The Real Reason for the Fed’s 50bp Cut

Hellasious:

Occam’s Rule: Sometimes the truth is so simple that even as it stares us in the face we are blind to it.
The Federal Reserve cut its Fed Funds benchmark rate by 50 bp to 4.75%, more than most analysts’ expectations. Already there have been trillions of pixels written to explain why, but none that I have seen follow the time-honored Occam or KISS principle (Keep It Simple, Stupid).
Here is a chart that explains the FRB’s move; for the non-professional there is an explanation after it.

The Cult of Leica

Anthony Lane:

Fifty miles north of Frankfurt lies the small German town of Solms. Turn off the main thoroughfare and you find yourself driving down tranquil suburban streets, with detached houses set back from the road, and, on a warm morning in late August, not a soul in sight. Nobody does bourgeois solidity like the Germans: you can imagine coming here for coffee and cakes with your aunt, but that would be the limit of excitement. By the time you reach Oskar-Barnack-Strasse, the town has almost petered out; just before the railway line, however, there is a clutch of industrial buildings, with a red dot on the sign outside. As far as fanfare is concerned, that’s about it. But here is the place to go, if you want to find the most beautiful mechanical objects in the world.

Travel Nightmare

Wayne Slavin:

I don’t normally post personal items, but I think that everyone should know about some of the horrible things happening at San Diego International Airport and with Delta Airlines. I wrote this immediately after the events that transpired so that I would have an accurate log.
Summers are the busiest travel time of the year. Each year more than 750 million passengers move through our country’s airports raking up more than 800 billion miles of travel. (Source) Along with the increase in demand, air travel complaints are up as well. (Source PDF)
Now, we all know this year has been a special one for the airlines and air travel as a whole. From the JetBlue hostage crisis, the terrorist “dry runs” on airport security around the country, and the most recent debacle on Southwest Airlines where they asked a woman to cover up because of her lewd attire.
Also, after learning about Xeni’s experiences, reading Bruce’s article, I decided to post this. Here we go!

The truth, the whole truth, about lying in court

Edward Walsh:

It was a rare and startling moment in any courtroom. The judge was sentencing a defendant, but directed some of his harshest comments at three witnesses who had helped prosecutors obtain the conviction.
One of the witnesses “flat-out lied. He should be charged with perjury,” said Multnomah County Circuit Judge Michael McShane.
The judge’s outburst was unusual, but it also raised a fundamental question about the justice system: How much lying occurs in courtrooms by people who have sworn to tell the truth?

Vino Volo

Vino Volo:


Home » About Vino Volo
About Vino Volo
At Vino Volo, our goal is to bring the world of wine tasting and retail wine sales to where it is most convenient for air travelers. Our innovative wine tasting restaurant and retail stores are specifically designed for passengers and our website is available to continue serving them even after they leave the airport.
Vino Volo (derived from Italian for “wine flight”) combines a boutique retail store with a stylish tasting lounge and bar, allowing guests to taste wines in a comfortable setting. Vino Volo serves great wines from across the globe by the glass or in tasting flights. All wines poured are also available for purchase by the bottle, allowing travelers to purchase wines to take with them or have shipped to their home (subject to state law).
Our Stores
Warm wood tones and comfortable leather lounge chairs welcome travelers into a sophisticated yet approachable post-security retreat in the airport terminal. Every Vino Volo location has an integrated retail area showcasing the wines being poured and offers elegant small plates to pair with the wines. Customers enjoy items such as locally-produced artisan cheeses, dry cured meats, and smoked salmon rolls wrapped around crab meat with crème fraiche. All of Vino Volo’s dishes are available for customers to enjoy in the store or packaged to carry with them onto their flight.
7-10 new stores are planned for airports in 2007. We encourage you to check our website periodically for updates on new locations.
About Taste, Inc.
Vino Volo is owned and operated by Taste, Inc., founded in 2004 and backed by industry leaders in wine, retail, and the hospitality industries. Vino Volo plans to open several dozen stores in airports across the country in the next five years. Taste, Inc. is headquartered in San Francisco, California.
Taste, Inc. is led by executives with deep industry expertise. Doug Tomlinson, Taste’s CEO, has over 16 years of career success in launching and spinning off new businesses. Doug has helped several Fortune 500 clients start new businesses or divisions and has been featured as a cover author in Harvard Business Review. Ellen Bozzo, Director of Finance and Administration, has over 20 years of experience in multi-unit retail finance, including the role of Controller for Peet’s Coffee & Tea. Joe LaPanna, Regional General Manager, has over 19 years of experience in high-end restaurant and wine retail management as well as managed the expansion of two major restaurant concepts. Carla Wytmar, Director of Development & Marketing, is a 20-year veteran in the food & wine industry, having worked with Hyatt Hotels Corporation, The Walt Disney World Company and as a consultant to top chefs and wine companies across the country.
Standing behind the Vino Volo team is a group of highly-credentialed investors and advisors with over a century of combined experience in retail, hospitality and wine that include the founder of Ravenswood Winery, the founder of Scharffen Berger Chocolate Maker, and the CEO of Jamba Juice, among others. Each member of this group sits on a formal Advisory Board and actively consults to Vino Volo on its development and execution. “Taste, Inc. DBA Vino Volo” is the California-based legal entity behind all Vino Volo operations.
About our Team
Vino Volo prides itself on building teams dedicated to customer service and with deep expertise in wine tasting and retail. Customer service is a cornerstone of Vino Volo’s strategy, and Vino Volo invests heavily in training its talented staff to make wine approachable. A highly trained team of Wine Associates helps customers explore and enjoy Vino Volo’s wines. The company also has a patented tasting framework to ease customers through the wine discovery process. Vino Volo is redefining service in airports, recently ranking #1 in customer service among over 900 airport stores mystery shopped, and is the recipient of the Airport Revenue News 2007 Award for Highest Regard for Customer Service.
Vino Volo offers some of the best opportunities in the wine industry, including:
* Intensive training program on service and wine
* Opportunity to continuously taste and learn about wine
* Annual retreat to a wine region of the world
* Full benefits package to full-time employees
* Competitive compensation package
For More Information
Visit our stores or Contact Us. We look forward to hearing from you!
Anything that can make airline travel more enjoyable is a welcome development, so beleaguered travelers take heart: Vino Volo…the leader of upscale wine bars at airports. – Wine Enthusiast

A conversation with Ed Iacobucci about the reinvention of air travel

Jon Udell:

In Free Flight, the seminal book on the forthcoming reinvention of air travel, James Fallows tells a story about Bruce Holmes, who was then the manager of NASA’s general aviation program office. For years Holmes clocked his door-to-door travel times for commercial flights, and he found that for trips shorter than 500 miles, flying was no faster than driving. The hub-and-spoke air travel system is the root of the problem, and there’s no incremental fix. The solution is to augment it with a radically new system that works more like a peer-to-peer network.
Today Bruce Holmes works for DayJet, one of the companies at the forefront of a movement to invent and deliver that radically new system. Ed Iacobucci is DayJet’s co-founder, president, and CEO, and I’m delighted to have him join me for this week’s episode of Interviews with Innovators.
I first met Ed way back in 1991 when he came to BYTE to show us the first version of Citrix, which was the product he left IBM and founded his first company to create. As we discuss in this interview, the trip he made then — from Boca Raton, Florida to Peterborough, New Hampshire — was a typically grueling experience, and it would be no different today. A long car trip to a hub airport, a multi-hop flight, another long car trip from hub airport to destination.

Jolly green heretic

The Economist:

Stewart Brand, a pioneer of both environmentalism and online communities, has not lost his willingness to rock the boat.
IN SOME respects Stewart Brand’s green credentials are impeccable. His mentor was Paul Ehrlich, an environmental thinker at Stanford university and author of “The Population Bomb”, published in 1968. That book, and the related Club of Rome movement of the 1970s, famously predicted that overpopulation would soon result in the world running out of food, oil and other resources. Though it proved spectacularly wrong, its warning served as a clarion call for the modern environmental movement.
Mr Brand made his name with a publication of his own, which also appeared in 1968, called “The Whole Earth Catalogue”. It was a path-breaking manual crammed with examples of small-scale technologies to enable individuals to reduce their environmental impact, and is best known for its cover, which featured a picture of the Earth from space (which Mr Brand helped to persuade America’s space agency, NASA, to release). The book became a bestseller in anti-corporate and environmental circles. In 1985 Mr Brand co-founded the WELL, a pioneering online community that was a precursor of today’s social-networking websites such as MySpace and Facebook.
Mr Brand still has a following among the Birkenstock set, and even lives on a tugboat near San Francisco. But meet him in person and it becomes clear he is not exactly your typical crunchy-granola green. Sitting down to lunch at a posh beach resort on Coronado Island, off San Diego, he does not order a vegan special but a hearty Angus burger with bacon, cheese and French fries, and a side-order of lobster bisque. “I’m genetically a contrarian,” he says with a broad smile.

Midwest Airlines Overture to Northwest – Bad for Flyers?

Tom Daykin:

Northwest Airlines Corp.’s planned investment in the corporate parent of Midwest Airlines came about after Midwest Chairman and CEO Timothy Hoeksema contacted his counterpart at Northwest – about one week after Midwest shareholders elected three board members nominated by rival suitor AirTran Holdings Inc.
Also, Northwest’s planned ownership stake in Oak Creek-based Midwest Air Group Inc. would be around 47%, based on its level of equity investment in the transaction.
Those facts were disclosed today in a preliminary proxy statement Midwest Air filed with the Securities and Exchange Commission. The document includes previously withheld details on how Midwest Air reached its sale agreement in August with TPG Capital, a Fort Worth, Texas-based private equity firm, and Northwest.
According to the statement, Hoeksema on June 22 called Doug Steenland, Northwest chairman and chief executive officer, and “discussed Northwest’s interest in exploring a possible transaction with us.”
The conversation was “following up on a call (Hoeksema) had placed in early June,” the statement said, without specifying a date.

I’ve noticed that Midwest is no longer competing for the lowest (or lower) fares to many markets from Milwaukee and Madison. Northwest is often lower, largely to compete with AirTran. It will be interesting to see how this plays out…. I assume this was one, perhaps of several reasons why Northwest would like to keep Midwest around – higher fares within their near-monopoly upper Midwest markets. Southwest may well address the upper midwest market – a boon for local flyers.