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On April 2, 2013, Governor Chris Christie signed P.L. 2013, C.40, P.L. 2013, C.41 and P.L. 2013, C.42 into law. The three laws are intended to make New Jersey more business friendly by aligning New Jersey's corporate statutes with those found in neighboring states such as Delaware and New York.
A summary of each bill is provided below:
I. A-3049/S-2328 (P.L. 2013, C.40): Allows New Jersey resident domestic corporations to affirmatively disavow the applicability of the New Jersey Shareholders' Protection Act (14A:10A-1 et seq.) by amending their bylaws.
Specifically, the bill amends the definition of "resident domestic corporation" to provide that a resident domestic corporation does not include an issuer of voting stock that is organized under the laws of New Jersey but neither maintains its principal executive offices in New Jersey nor has significant business operations located in New Jersey if that corporation's board of director adopts an amendment to its bylaws electing not to be a resident domestic corporation within 90 days from the effective date of the bill (July 2, 2013).
The bill also allows a resident domestic corporation to engage in a business combination with an interested stockholder if the transaction that caused the person to become an interested stockholder was approved by the resident domestic corporation's board of directors prior to the stock acquisition date. (Generally, an "interested stockholder" is an owner of 10% or more of the outstanding voting stock of the corporation.)
The bill further allows a subsequent business combination between a resident domestic corporation and an interested stockholder if the subsequent business combination is approved by (1) the board of directors, or a committee of that board, consisting solely of persons who are not employees, officers, directors, stockholders, affiliates or associates of that interested stockholder; and (2) the affirmative vote of the holders of a majority of the voting stock not beneficially owned by such interested stockholder at a meeting called for such purpose.
Finally, the bill exempts from the provisions of the New Jersey Shareholders' Protection Act any stockholder who was the beneficial owner of 5% or more of the voting power of the outstanding voting stock of that resident domestic corporation on the effective date of the bill if the resident domestic corporation did not, on the effective date of the bill, have its principal executive offices located in New Jersey or significant business operations located in New Jersey.
II. A-3050/S-2327 (P.L. 2013, C.41): Allows corporate shareholder meeting participation by remote communication and clarifies remedies for dissenting shareholders.
The bill makes various revisions to the New Jersey Business Corporation Act, which required shareholders to be physically present to participate in meetings of shareholders.
The bill further provides that a shareholder participating in a meeting of shareholders by means of remote communication shall be deemed present and shall be entitled to vote at the meeting if the corporation has implemented reasonable measures to (1) verify that each person participating remotely is a shareholder; and (2) provide each shareholder participating remotely with a reasonable opportunity to participate in the meeting, including an opportunity to vote on matters submitted to the shareholders, and to read or hear the proceedings of the meeting substantially concurrently with those proceedings.
The bill also provides that as to that class or series of remotely participating shareholders, the notice required to be given to shareholders about the meeting shall describe the means of remote communication to be used.
Finally, the bill also clarifies the situations in which a shareholder may challenge a corporate action-amending N.J.S. 14A:11-1 by adding paragraph (5), which provides that dissenter's rights are the exclusive remedy for dissatisfied shareholders in corporate mergers and corporate transactions as specified in subparagraphs (a) and (b) of paragraph (1) of N.J.S.14A:11-1. This exclusivity provision follows section 13.02(d) of the American Bar Association's Model Business Corporation Act and provisions enacted by several other states. The intent of these provisions of the bill is that dissenter's rights should be the exclusive remedy for shareholders who are dissatisfied with the corporate actions enumerated in paragraph (1) (regardless of whether the shareholder has exercised his or her right to dissent), with the exception that a shareholder may bring an action only if the corporation has not complied with Chapter 11 of Title 14A of the New Jersey Statutes or if the corporation has engaged in fraudulent or material misrepresentation, or deceptive means, in obtaining approval of such transactions.
III. A-3123/S-2326 (P.L. 2013, C.42): Revises law concerning derivative proceedings and shareholder class actions.
The bill repeals the current law concerning actions brought in the right of a corporation by a shareholder and supplements the New Jersey Business Corporation Act with a new set of regulations concerning derivative proceedings. Certain provisions of the bill are also applicable to shareholder class actions against a corporation or its directors arising out of breach of duty imposed by New Jersey statutory or common law.
Under the bill, the regulations governing derivative proceedings and shareholder class actions are applicable only if the certificate of incorporation makes them applicable. The bill raises the value of plaintiffs' shareholdings required to avoid having to post security for a fee award-which had not been increased since 1968-to $250,000. The bill also adds the judicially developed concept that the shareholder plaintiffs must continue to hold the shares throughout the derivative proceeding.
Under the bill, a New Jersey corporation may amend its certificate of incorporation to supersede judicial case law developments regarding demand requirements and adopt the statutory standards. This allows corporations to avoid derivative suits that may impose unnecessary costs on the corporation. If adopted by a corporation, demand is required in every derivative proceeding, and disinterested directors, shareholders or court-appointed professionals are authorized to make a decision, after a good faith investigation, that the derivative proceeding is not in the best interests of the corporation.
The bill is largely based on sections 7.40 to 7.47 of the Model Business Corporation Act, with substantial additions based on section 7.44 of Chapter 156D of the Massachusetts Business Corporation Law. The New Jersey Corporate and Business Law Study Commission recommends the legislative reforms in the bill.
Summary: New Jersey corporations should be mindful of these new laws. Of particular importance are:
(i) the voluntary provisions of P.L. 2013, C.42 that afford New Jersey-based corporations the right to amend their certificates of incorporation to provide greater protections against shareholder derivative suits; and
(ii) the provisions of P.L. 2013, C.40 that clarify that the New Jersey Shareholders' Protection Act covers all publicly traded corporations that are formed under New Jersey law unless the corporation's board of directors passes a bylaw amendment opting out by July 2, 2013.
See more »
DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.
© McCarter & English, LLP
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- halikowski
- Reviews: 389
Exerzitienhaus (Barmherzige Schwestern)
Contact: Barmherzige Schwestern [email@example.com]. Anna Gigl is the managing director.
fruit garden all around. High ceilings, roomy.
Cost 39 euros for single room including hearty all-you-can cold breakfast.
Not brand new, but everything good quality.
- halikowski
- Reviews: 389
Monastery: Kreuzschwestern
Adresse:
Privatklinik der Kreuzschwestern GmbH
Kreuzgasse 35
8010 Graz
AUSTRIA

Tel.: (0043) 0316/331-0

Fax: (0043) 0316/331-3444

E-Mail: email@example.com
Don't know it personally, but as the Barmherzige Schwestern in Mariengasse 6A are often booked out, this is a recommended second choice
- daniwales
- Reviews: 3
Strategger strabber: Privatpension Strategg hmmmmmmmm
Dont be fooled by the pictures or any info they give you about transport links, the house is not as big as we thought, the famly run house is cold, unwelcoming and vey basic, no kettle etc in room, no shops open after 7pm, the closest shop is over 30 minutes away by bus.....

We arrived at the house at 8.30pm after a 15 hour journey and asked if there was anywhere we could get a drink ( tea, coffee, soft drink) and some food we were told no, although there was a perfectly functioning kitchen on our floor, we had nothing to eat or drink until the following morning :(

transport links re fabulous from there but we were told it was a journey of just 15 minutes that turned out to be 45 minutes, one evening our electric went off but because it was after 10pm they would'nt do anything about it so we sat with tea lights in the dark.......

There is also an unpleasant smell in the hallways that got into our hair and clothes, they wouldnt let us use the radiotors either so we were freezing cold in the nights, I ended up with a chest infection......
Stunning views........
- Boniek
- Reviews: 70
I forget: The Addams Family
In both 1993 and 1994 I stayed with Helga so it was only 2004 when I experienced an Austrian Hotel. We chose the nearest place to the station. Unfortunately I can't recall it's name but if you turn right out of the station, cross over the road, it's the first hotel you come to. There's a hostel a little further on on the right hand side but this place is comfy and cheap.

The rooms are not en-suite but they're a good size, clean and quiet. We got the room for 20yoyos each and the batchroom was right across from us. The only downside was the bloody bathroom was freezing - even in August and it took unitl October for the water to heat up!!! Apart from that it was fine and on a budget I'd recommend it as a little bit of luxury.
The girl that checked us in instantly reminded me of a young Mortisha Addams!! She looked alive because she did move - but very slowly. I assumed the reason she didn't smile was simply because her face had forgotten the correct sequence of muscle movements. But she wasn't all that bad cos we survived the night..!! To be honest I think she "looked down" upon us poor back-packers...feck her!!!
- orlikins
- Reviews: 1189
I lived here, hahahahaha :) Partaaaay Central!: My flat!
Very central, only like 10 mins walk from the Hauptplatz. 12th floor, had great view of the Schlossberg and the city centre. Man, I still miss that apartment sometimes, the rent was excellent value and the landlord was friendly.
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Microsoft Cloudifies ERP for SMBs With Dynamics NAV 2016 Release
Microsoft enlists the cloud for the latest launch of its enterprise resource planning software for small businesses.Overshadowed this week by Microsoft's splashy Windows 10 device event was the official launch of Dynamics NAV 2016, the enterprise resource planning (ERP) software platform for small and midsize businesses. In keeping with the Microsoft's post-PC, "cloud-first" product strategy, the latest version of Dynamics NAV features deeper ties to the Redmond, Wash., software giant's Azure-backed cloud services slate. "Microsoft Dynamics NAV 2016 offers significant new capabilities in mobility, business insight, and cloud services, as well as deeper interoperability with Microsoft Azure, Microsoft Dynamics CRM and Office 365," said Microsoft Corporate Vice President Wayne Morris in an Oct. 5 announcement. The cloud is the great equalizer, enabling SMBs to stand their ground against larger enterprises, according to Morris. "SMBs worldwide are looking to lower costs and compete more effectively with larger organizations, and are turning to technology to help streamline processes, empower workers with insights anywhere and on any device, and to scale securely through the power of the cloud," he said. Accordingly, Dynamics NAV 2016 works in tandem with several Microsoft cloud services to enhance SMB business processes with enterprise-grade capabilities. They include new business analytics capabilities, courtesy of Power BI, Microsoft's cloud-based business intelligence software offering.
Customers can glean business insights "with pre-built Microsoft Power BI dashboards and data connections that give teams instant access to key performance indicators in an intuitive environment designed for secure collaboration," stated Morris. Dynamics NAV 2016 also features native integration with Microsoft Dynamics CRM Online, allowing organizations to link their customer service and sales operations.
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text:
|Half Baths
|Property type
|Minimum Stay
|5 nights
Luxury home with an old time plantation feel with all the modern amenities The property is fenced and gated. A half acre lot is filled with tropical plants of every color.There are orchids, hibiscus, plumeria, ginger, and other tropical plants. The driveway is lined by 11 mature royal palms.The pool is larger than normal and is kidney shaped with a large sunning deck. The ground floor includes double french doors opening into a spacious foyer. There are three large bedrooms and two large baths on the ground floor Each bedroom has french doors opening to the garden and is well appointed with luxurious island style linens, comfortable beds, televisions, night stands and comfortable seating They are very private and ideal for several couples and mult-generational visitors A large stairway leads from the foyer to the top floor into a spacious screened in sunroom with high ceilings.The views of the ocean and mountains are beautiful.Top flr includes master suite, 1/2 bath, living/dining.
Ideal for multi generation families and : Each bedroom is very private with its own door into gardens or lanais. making the Palm House ideal for mulit generational family vacations or several couples. The celiings are very high and each bedroom is very spacious. The master suite has a plantation style canopy bed and a shower with two showerheads. The master bedroom lanai has great views of the gardens and the ocean.
We rented this property for 6 adults and two children. In addition, several other family man embers would be joining us for meals and time together for the holidays,
The first concern came to our attention when we tried to close the French doors separating the living room from the bed room. After several attempts to reach the caretaker (his phone was consistently busy) we tried to reach the owner, Patricia Kerrigan. Her phone went to voice mail. We left a message. Two days later a man came to repair the doors.
The second concern came to our attention when we opens the dishwasher to stack dishes. We noticed standing water and an obnoxious smell. We tried to run the water empty hoping to clean it. A few minutes into the cycle we realized there was a serious problem. Also, the garbage disposal backed up. While running the disposal it was obvious there was a problem based on the loud broken-like sound.
We tried to contact the owner but were unable to reach her. Again, busy signal for the caretaker and voice mail for the owner. This time her mailbox was full and we were unable to leave her a message. After several days and a growing putrid smell we were able to contact the owner. She offered the number of a repair service and an additional phone number to contact her.
From Dec 21-29, we did not have the use of a dishwasher/disposal. The greater concern was having to deal with a growing biohazard in the dishwasher. We did not have the use of either appliance during our 11 day stay.
Since I had contact w/the owner I informed her of several other concerns. The propane grill needing repair. The flagstone around the pool being torn up, under repair, and repair not completed. Because of construction, the pool furniture was tossed to the side, the flagstone laying in piles around the pool. This presented a hazard for the young and older family members we had staying with us. Because of this, we did not use the pool.
I notified the all concerns but did not get any customer satisfaction. The final concern is, there is a cleaning fee but no cleaning service.
Thank you, Pat Kerrigan, for our wonderful two-week stay in Hawaii on the Big Island. We arrived late in the evening in the dark, but we awoke to the most beautiful scenery when we walked out on the lanai! The birds provided the music for our stay as well! The pool was used only a few times, but was great in the late afternoons when the sun was at it's hottest. Lots of fun to take a private dip in the pool! I wish we could have used the slide. Kids would really enjoy that if it were up and running.
The kitchen was well stocked with all the equipment we needed to prepare our many breakfasts there. We had a bit of a problem with the dishwasher when we first ran it, but Pat sent out her handyman and soon we had a new dishwasher, which was great as there were nine of us to do dishes for at one point.
There were plenty of linens and towels, and a washer and dryer to help out, too. I don't understand the complaints about the stove and oven in other reviews, as these seemed quite new when we were there, and worked wonderfully. I would have loved to take home the refrigerator/freezer. My family members remarked how they liked the extra drawer for beverages. Ice maker was a little slow when we would empty it for the cooler for a day at the beach, but normally it worked well for our mai tai's.
I wasn't sure of what we would find for bathrooms when we got there as there were no pictures to see, but the master bath was very nice with two sinks, an open shower, and jetted tub. There was another half-bath on the upper level, and two large bathrooms for the three downstairs bedrooms. Very adequate! Oh, yes! And the beds were awesome! The mattresses were so comfortable!
We were surprised to say the least by the geckos. They are friendly little creatures and nothing to be scared of, but we soon found out that we had to clean up after ourselves after every meal or they would soon be looking around for any little scraps we would leave around.
On the last day of our stay we found out that our flight was cancelled because of a snowstorm on our route home. Pat most generously offered an extra night's stay free of charge so that we wouldn't have to find other arrangements. This allowed us another day to spend at the beach, where we actually spotted dolphins and turtles close to the shore. Thank you again, Pat, for sharing your beautiful home with us. We recommend the Palm House to anyone with family because of all the space. Wonderful
The great: This house is absolutely gorgeous! We were 4 couples that took a valentines weekend trip to Big Island. This was a perfect house for us. There was plenty of room for all of us with beautiful views.
The not so great: the pool was not heated so it was like freezing lake water. We tried to get in but it wasn't pleasant. There's no hot tub.
The bad: The owner didn't give us the check in information until the day of at 11:00am. I called multiple times and her voicemail was full so I couldn't leave a message. I left multiple messages via email and on the vrbo site. She finally called back the morning of check in while we were on our flight to big island. This started off our trip pretty stressful.
This home was incredibly lovely! The rooms are all painted with gorgeous tropical colors, inviting you to relax and just enjoy the beauty. The bedrooms' white curtains float softly in the breeze that wafts in through vented windows. There are even gentle wind chimes making a peaceful background sound. The grounds were equally wonderful and spacious, with lush foliage. The house is a good distance away from any neighbors, providing a nice sense of privacy. The distance also gave the house a perfect climate, just far enough away from the ocean to still be warm, but not too hot or cold, making for pleasant evenings too. An added bonus was the panoramic ocean view from the lanai.
We enjoyed the swimming pool so much! It was clean with a huge deck. The days were warm enough so that a dip in the pool was an extra bonus.
Our entire stay in Patricia's home was absolutely perfect. When my family returns, we would truly feel fortunate if we were able to stay in this serene, idyllic home again. Thank you Pat for making our time on the big island so special.
The property is just as described. Very nice landscaping and exterior. Pool is in good condition. It is not heated, so be aware that if you want a warmer pool, it might be a little chilly in the winter months. There are easy parking spots for 2 cars. More might require some coordination among drivers. The inside was in good shape. Everything was clean. Laundry and bathroom facilities were great. Most of our time was on the upper level with the large porch, large rooms for sitting to read and talk. The large kitchen made it possible to make our family style dinner each night and the dinner table accommodated the 8 of us. The kitchen has a most everything you would need for meal preparation. Some of the knives can be dull, but there is a guy who parks a van near the Costco who will sharpen knives if you need to sharpen one sharpened. The grills were great for cooking and the fridge accommodated all our groceries. One item that has to do with the Kona geography and not the house might be important to those that need to be in contact. The home is on the edge of AT&T and T-mobile cell service, so it wasn't uncommon for our phones to loose service in parts of the house, but regain it when we stepped out onto the second floor porch.
We were unsure about this property at first as the pictures on here were less than perfect. We decided to take a leap-of-faith based on the good reviews and I am so glad that we did. My parents live on the island and Pat was kind enough to take time out of her day to show my parents around before we paid her the full amount.
The owners are great. They allowed my mom to bring groceries over early and cook dinner there in the house before we arrived. Bob greeted them as Pat was away working and he continued to be helpful. The following day my son locked the bedroom door and Bob came right over to try to help the boys get back into the room. Wednesday is lawn/garbage/pool day. Bob was there working and I asked him if he could help figure out what was wrong with the TV in the master bedroom. He got the pieces to fix it right up. There was another issue I told him about and he fixed it that night.
One of the rooms downstairs now has a king sized bed, a nice TV set up, a desk and the day bed in that room. My boys slept in there. The other has a queen and they did have a pack-and-play, highchair, toys, exersaucer, and various baby/little kid things. That was helpful for our 6 mo old and our kids. The other room had a queen bed and a couch, a nice TV and a little desk my daughter used for her laptop. They were not huge, but not crowded. The master had a comfy king, a nice TV, seating, a private lanai (perfect view of the sunset on this lanai). Each room has a ceiling fan and a separate plug in fan, perfect for what the temps were. The screened in porch was by far our favorite room. The pictures show one of it with the old furniture and one with the new L shaped couch. It has the L couch currently and another matching couch (no day bed) however, our oldest slept in there every night as it was cool and we spent most of our time playing board games and hanging out in here. The living room has 3 couches and a nice big TV. There are 3 lanais upstairs, two out front facing the pool and ocean and one on the back facing the back. There are a couple of neighbors but you feel very secluded having a coffee farm next door and it's at the end of a street.
The kitchen has a new fridge and stove (both not pictured) and even though the oven is a bit sad, it did work. We cooked there every night. It was VERY well equipped, I just wish they had a pizza pan. Otherwise, they have blenders, food processor, pans, pots, dishes, etc.
Thank you, Bob and Pat! We loved it!
The Palm House is in close proximity to beaches, golf and shopping but feels like it is away from it all. It is located in a small housing community with all six houses having half acre lots and swimming pools.
The property is fenced and gated and at an elevation that affords good views of the ocean and mountains. The gardens are spectacular with flowers of every kind; orchids, plumeria, hibiscus, ginger, and others. Pineapples, avocado, mango, and banana grow on the property. There is a large swimming pool with a sunning deck. The views are great, 180 degree view of the ocean. The property is reminiscent of an 'Old Hawaii plantation' with all the modern conveniences
|Rate Period
|Weekend Night
|Monthly *
My Standard Rate
5 night minimum stay
|Property Damage Protection
|$300 + Tax
|Tax Rate
Please contact owner for rates during October as there is a premium for Ironman dates.
* Approximate monthly rate. Actual rate will depend on the days of the month you stay.


text:
Alexis De Tocqueville and the Art of Democratic StatesmanshipBy: L. Joseph Hebert (editor), Brian Danoff (editor), Albert W. Dzur (contributor), Derek Barker (contributor), Richard Boyd (contributor), Lawler Lawler (contributor), Paul Carresse (contributor), Hebert Hebert (contributor), Brian Danoff (contributor), Khalil M. Habib (contributor)Hardback
More than 4 weeks availability
DescriptionIn 1835, Alexis de Tocqueville famously called for 'a new political science' that could address the problems and possibilities of a 'world itself quite new.' For Tocqueville, the democratic world needed not just a new political science, but also new arts of statesmanship and leadership. In this volume, editors Brian Danoff and L. Joseph Hebert, Jr. have brought together a diverse set of essays which reveal that Tocqueville's understanding of democratic statesmanship remains highly relevant today.
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About AuthorBrian Danoff is assistant professor of political science, Miami University. L. Joseph Hebert, Jr. is associate professor and chair of political science at St. Ambrose University.
Contents1 Acknowledgments 2 Introduction 3 Part I: Statesmanship and Political Philosophy 4 Speech Given to the Annual Public Meeting of the Academy of Moral and Political Sciences on April 3, 1852 5 Leading by Leaving 6 Aristotle and Tocqueville on Statesmanship 7 Macchiavelli and Tocqueville on Majority Tyranny 8 Montesquieu, Tocqueville, and the Politics of Mores 9 Intellectuals and Statesmanship? Tocqueville, Oakeshott, and the Distinction between Theoretical and Practical Knowledge 10 Part II: Statesmanship and Government 11 Tocqueville's View of the American Presidency and the Limits of Democratic Statesmanship 12 Changing the People, Not Simply the President 13 Moderating the Penal State through Citizen Participation 14 Part III: Statsmanship Outside of Government 15 From Associations to Organizations 16 The Tragedy of American Progress 17 The Catholic Church in the Modern World 18 Tocqueville on How to Praise the Puritains Today 19 Part IV: Statesmanship Abroad 20 Tocqueville's Foreign Policy of Moderation and Democracy Expansion 21 The Twofold Challenge for Democratic Culture in Our Time
Product Details
- publication date: 13/12/2010
- Format: Hardback
- Number Of Pages: 350
- weight: 685
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Question time! Those who work, do your children do after school activities? If so, how do you manage it?
With the after school stuff DD and DS1 do (and no doubt DS2 and DS3 in a years to come), I'm starting to wonder if it's still going to be doable next year when I'm on prac placements for Uni, and therefore working 9am-5pm, 5 days a week? At this rate I'm going to have to look for a nanny who can ferry my kids to their activities!
How does it work in your family?


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Mystified by dropper seatposts? Here's a quick guide to how they work
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Gallery: Adam Hansen's Ridley Helium SLX
Customised race rig of the Grand Tour veteran


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It's a jungle out there in the dating world — literally speaking, for contestants on NBC's summer reality series "Love in the Wild," which has just been renewed for a second season.
NBC will bring back the dating competition in the summer of 2012 for Season 2, the network announced Thursday (Oct. 20). That means a whole new crop of singles will compete in "rigorous adventure challenges" as they try to find love.
Even if you didn't get on board with the summer guilty pleasure, you'll be happy to know that two couples from last season — winners Samantha Woods and Mike Spiro, along with runners-up Heather Pond and Miles Haefner — are still happily dating.
Paul Telegdy, NBC's head of reality and late-night programming, said in a statement,
"The success of the relationships formed on the first season of this series is a testament to the unique format of this show. We look forward to an even more compelling season as the series will return with new format twists and a new set of contestants who will conquer the wild — or not — to find love."
The show performed well in the ratings for a summer show, averaging a 1.8 rating and 5.5 million viewers each week, consistently finishing first among the big networks in the ever-important 18-49 demographic.


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That is probably right. But what about the bigger question: is the worldwide long-term downward trend in inflation, evident since the late 1970s, still secure? Will we in 10 years' time have become accustomed to zero inflation, even (as in Japan at the moment) falling prices? For if that downward trend is secure, anything that might happen here in the next few months will come to be seen as a little blip on the graph. And even the blip may be less marked if worldwide deflationary forces are stronger than the pundits currently believe.
Anyone determined to worry about inflation can trot out a series of justifications for their concern. Some of these are specific to individual countries: for example, that the Federal Reserve was too eager to cut US interest rates earlier this month; that German inflation has been stubbornly high; or that the UK Government will try to encourage a pre-election boom - albeit on a less spectacular scale than in the late 1980s. Others are more general. Of these, the most important at the moment is the fear that last year's surge in commodity prices has yet to work through the system and therefore there is considerable inflation in the pipeline.
Commodity prices are important not because the prices of raw materials (with the possible exception of oil) loom particularly large in industrial costs, but rather because they are at the start of the price chain. As the world economy expands, it typically uses more raw materials, the supply of which cannot be increased quickly. Prices rise sharply, which in turn push up producer prices, which in turn push up retail prices. Workers then see their real wages squeezed and accordingly bid up their own wages, which then puts further pressure on prices, and so on.
When commodity prices shot upwards last year, there were considerable fears that this was the start of just such a cycle. It might be a less marked cycle than those of the 1970s and early 1980s, but it was a cause for concern nonetheless, particularly in countries (such as Britain) that did not compensate for rising raw material prices by having an appreciating currency. Indeed, much of the concern here about inflation is based on the fear that these external cost pressures have still to work their way through the system. But is there really trouble in the pipeline? And could a significant fall in commodity prices race to help?
The background to these questions is given in the chart on the left, showing nearly a century of commodity prices, excluding oil. Most obviously, the long-term trend of commodity prices, expressed in real terms, is downward. This makes sense. As the world economy has developed, it has gradually become more efficient in the use of raw materials: the new electronics industries use much less physical product than the old electro-mechanical ones.
Aside from that downward trend, four further things stand out: the jaggedness of the fluctuations about that trend; the fact that we are now pretty much in line with the trend; the fact that while periods of global depression such as the 1930s were associated with lower-than-trend commodity prices, the long period of steady growth during the 1950s and 1960s also saw lowish prices; and that the worst period for prices (worst, that is, from the point of view of the consumers, not the producers) was the very high inflation period of the 1970s.
The contrast between the 1950s and 1960s on the one hand, and the 1970s on the other, is instructive. It proves nothing of course, but it does suggest that the present downward trend in inflation is quite likely to be reinforced by lower-than- trend commodity prices. It is perfectly plausible that we could have another decade or two when prices fall not just in real terms but in money terms, too.
What about the shorter term? One of the problems of analysing commodity prices is that they are stuck by lots of shocks - agricultural products are hit by poor harvests, while all commodities are affected by speculation. To try to iron out these shocks and look at the broad demand, Kleinwort Benson has constructed an indicator that scales down any large movements - the idea being to produce an indicator that focuses on changes in demand for commodities rather than fluctuations in prices or changes in supply. The result is the graph on the right. It shows that the commodity boom is over in the sense that prices are no longer tending to rise - a point confirmed by The Economist Non-Oil Commodity Index, which peaked at the beginning of this year. That would be consistent with a pause in worldwide growth. Kleinwort reckons that the balance of probability is that commodity prices will now move from the neutral zone into a down phase, though it does not think that commodity prices will fall off a cliff. If the world economy avoids a sharp slowdown in the next 18 months, commodities should be able to hang on to their recent gains.
Kleinwort uses this as an indicator of the state of the world economy, the theory being that commodity prices are available on a daily basis, and so tell us what is happening much more quickly than the regular indicators. But telling us about pressure in demand for commodities also says something about the relationship between that demand and prices. It looks very much as though the worst of the commodity price upsurge was past even before there was any evidence of a slow-down.
Looking ahead, therefore, the balance of probability is surely that commodity prices are at worst a neutral force for inflation, at best a very helpful one.
As far as Britain is concerned, it may well be that the surprises on inflation, if there are to be any, will be pleasant rather than unpleasant. The inflation in the pipeline is there, and nothing can be done about that. The whole economic process, from manufacturing through to retailing, is under great pressure as companies find that competitive conditions are such that they can only pass on price increases to a very limited extent. But a modest recovery in sterling, coupled with a modest fall in commodity prices, would greatly reduce the pressure at the beginning of the chain. And some slowing of the rate of growth will ensure that competition contains prices at the other.
This leads to some conclusions for Britain. Ever since the Bank of England launched its quarterly Inflation Report, inflation has tended to turn out better than forecast. Sooner or later, one might assume, it is going to turn out worse. But with a little help from commodities, it may continue to surprise.
And the rest of the world? It is really very difficult to see sustained inflationary pressure anywhere. The failure of last year's mini-boom in commodities to lead to much higher prices in the developed world means it is safe to assume that the downward secular trend in inflation is indeed secure.
- More about:
- Consumer Prices
- Economics
- Manufacturing


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This review is from: Sabrent USB 2.0 to Serial (9-Pin) DB-9 RS-232 Adapter Cable 6ft Cable with Hexnut connectors (SBT-FTDI)
Pros: Works with Win8.1 64bit. Plugged it in the HP Envy laptop and within seconds it was ready to go. Tested with a radio controlled by a Windows program and it worked flawlessly.
Cons: None
Other Thoughts: Many cables will work with Win7 but it does not mean that it will work with Win8. This one does work.READ FULL REVIEW
This review is from: Aluratek ABS02F Portable Bluetooth Wireless Speaker
Pros: Good sound quality considering the size. Rugged case, solidly built. Good battery life.
Cons: The only problem I have with this unit is similar to another review posted earlier. The unit doesn't seem to remember what it has been paired with earlier and therefore will not connect to a device without putting it in the discovery mode. It will not pair with my S3 or a bluetooth adapter unless you go through the process to pair by holding the button down. My phone easily pairs with other bluetooth devices and those devices remember so you don't have to go through the process each time like you do on the Aluratek.
Other Thoughts: Great price on sale even with the pairing inconvenience.READ FULL REVIEW


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Nick has worked with Greenpeace for more than 10 years and is now Head of Digital at Greenpeace NZ.
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Before Greenpeace, Nick worked with a small group called Native Forest Action campaigning to stop native logging on the West Coast.
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Everything we accomplished and every action we took in 2010 was thanks to you, and millions of Greenpeace supporters like you around the world. Join us in looking back on a year of action, with 99 of the best images in less than two... Read more >
Greenpeace and a broad swath of civil society groups in Australia and Europe have successfully prevented solvents and explosives maker Orica from sailing tonnes of extremely harmful chemical waste from Australia to Denmark for incineration. In re... Read more >
Today the Government announced a complete u-turn on plans to mine New Zealand's best conservation land. There will be no mining in Schedule 4 land or any national parks now or in the future!
This is a huge victory for the environment and for future generations. We saw the biggest protest in a generation and an avalanche of submissions. It goes to show that people power works, that when enough of us act together - we are unstoppable.
The Government's turnaround is a heartening example of people power in action. This is a historic victory for the record number of New Zealanders who stood up to protect our most treasured places and for a vision of a truly sustainable and progressive 21st century economy for New Zealand. This is a hugely signif... Read more >
Since December there has been a glut of stories challenging the science of climate change as represented by the IPCC. Should we be concerned? Only about climate change.
Lately there's been a rash of stories all ending with the word "gate" and all ques... Read more >
At the beginning of 2009, faced with a climate in crisis, a Government not taking it seriously and the huge opportunity that the Copenhagen summit presented, we decided it was time to get a lot of people to step up and say yes, we want action on clima... Read more >
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Developer Larry Silverstein wants the Port Authority to guarantee loans, in the absence of private financing, for him to build two towers at the World Trade Center site. But Gov. David Paterson isn't buying it.
From WNYC:
PATERSON: Where private money is eschewing the opportunity, public money should not be used either because the public's money is just as important and that is why.
From the Daily News:
Paterson's charm offensive was backed up with tough talk as he told Silverstein that taxpayers would not plow billions of public dollars into funding speculative private-sector office towers that cannot lure private financing.
"The public's dollars are just as important as anyone else's - and that is why I insist we cannot finance anyone else's project," the governor told reporters. "The state is not going to be the only entity that has risk in the project."
Now the government hasn't been asked to invest in the speculative office tower planned for Atlantic Yards, but the Metropolitan Transportation Authority (controlled by Paterson and Mayor Mike Bloomberg) moved to lower Forest City Ratner's risk in AY, allowing a delayed payment schedule and a railyard worth $100 million less, without asking for any concessions in return.
Tuesday, July 21, 2009
Paterson on Ground Zero towers: Public money just as important as private money
Posted by Norman Oder at 8:10 AM
Labels: David Paterson
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Shop for living room furniture online at Freedom including coffee tables, cabinets, TV units, rugs, cushions & more.
Create a beautiful living room with the Freedom range of sofas, sofa beds, coffee tables, throws and more. Whatever your style, we can make your living room an elegant place to relax.
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Light scuffles broke out, Monday morning, when hundreds of Palestinian Authority (PA) Arabs, including police officers and the governor of the PA's Ramallah District, came to groves belonging to the Binyamin-region Jewish community of Adei Ad.
Arutz Sheva was told that Israeli police and troops protected the Arabs.
Tags:PA Arabs, PA Security Forces, Adei Ad


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Registration for
Ocala Marathon, Half Marathon, & 5K
Registration for
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The official registration dates are from
Sunday, 24 January 2010 12:00 AM
Tuesday, 18 January 2011 11:59 PM
Pre-registration has closed for this event, however there will be day of race registration. Registration will be available at the Expo being held at the Holiday Inn & Suites - Ocala Conference center on January 22, 2011 from 10:00 a.m. until 6:00 p.m.
Tell your friends!!!!
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|"Miguel Farah" <miguel.fa...@gmail.com>
|Re: [lang] After 2.2, what to add?
|Tue, 01 Aug 2006 19:43:24 GMT
On 8/1/06, Niall Pemberton <email@example.com> wrote: > On 8/1/06, Miguel Farah <email@example.com> wrote: > > (I'm new here, so please be a little kind if I'm royally screwing up) > > Welcome :-) Thanks. >[...] > > I think I can contribute new methods for string manipulation and text > > formatting, but I need to know wether some of my utilities have been > > considered previously and turned down, for any reason. Is there some > > sort of log with this information? > > The best place to look is JIRA which we use for issue tracking: > > http://issues.apache.org/jira/browse/LANG >[...] Great. I looked at everything, trimmed/pruned my stuff, and now I'm down to a few methods that haven't been done or proposed. I'll start with something simple: StringUtils has the repeat(String, int) method, which repeats a string the given number of times. 1) I propose adding repeatToLength(String, int), which repeats the string enough times for the result to have exactly the given length. StringUtils.repeatToLength("abc", 9) == "abcabcabc" StringUtils.repeatToLength("abc", 8) == "abcabcab" A second method, repeatToLengthFromTheRight(String, int) cuts the possible excess at the beginning: StringUtils.repeatToLengthFromTheRight("abc", 9) == "abcabcabc" StringUtils.repeatToLengthFromTheRight("abc", 8) == "bcabcabc" 2) I propose adding repeat(char, int), which simply invokes repeat(String.valueOf(char), int). This makes it easier on the programmer, who doesn't have to do the conversion himself. -- Miguel Farah email@example.com --------------------------------------------------------------------- To unsubscribe, e-mail: firstname.lastname@example.com For additional commands, e-mail: email@example.com
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