Seattle’s “LOLcats” entrepreneur takes aim at celebrities

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SAN FRANCISCO

For the uninitiated, that’sitting Web shorthand for “laugh out tumultuous,” an abbreviation that is common in e-mails, trice messages and online chat rooms. Huh, a Seattle entrepreneur, has built a mini-empire without interruption the unique brand of humor illustrated by the agency of the “LOLcats” craze: photos with captions punctuated by deliberately misspelled accents and mangled phrases.

His network of eight Web sites, which includes I Can Has Cheezburger and I Can Has a Hot Dog, attracts 5 the public users and 100 million page views a month. The newest, which launched last week, makes gayety of celebrities. It’s called ROFLrazzi, as in “rolling on the floor, laughing,” and razzi, viewed like in “paparazzi.”

Huh, 30, is trying to expand his companionship, Pet Holdings, in the face of a slowdown in online advertising. The Korean-born former journalist now has 12 employees who, along with his wife, Emily, help him run the sites.

“Twelve months ago we were this odd cat blog,” Huh said. “I am not sure if we are on the cusp of a recent type of entertainment or we are just a flash in the pan.”

The LOLcats manifestation began on a current online bulletin board, 4chan. People started posting pictures of cats and slapping on captions from the feline point of view. The result was LOLspeak

Huh seized on the commercial potential. He paid an undisclosed amount to buy a popular LOLcats site named after a description of a chubby gray cat gazing into the camera, with the caption “I can has cheezburger?” The site’s founders, Hawaii-based Eric Nakagawa and Kari Unebasami, had started the site as a hobby and were overwhelmed by the response. (They are publishing a LOLcats book next month.)

Since buying I Can Has Cheezburger, Huh has added companion sites devoted to dogs, political economy and really bad translations of English, among others. A fan favorite is Fail Blog, in which people take joy in others’ mishaps.

The Pet Holdings sites have achieved cult station with a populist formulary: Users with quick wits upload images bearing peculiar expressions and idiosyncratic accidence, vote for favorites and stigmatize comments. The most profitably of the thousands of submissions the sites receive eddish. day venture the front pages.

When the company posts work at jobs openings, it receives a flood of r

Huh hopes that celebrity coverage, which already generates huge online regard, last will and testament have existence another hit for him. For ROFLrazzi, users create funny captions for glory photos: Mr. T in a suit fixed before a U.S. flag, saying, “I pity the foo that fails to comprehend the financial ramifications of sub-prime lending”; bouffant-coiffed and pastel-clad Duran Duran with the caption “1986. Gayer than advertised”; a pointed Keanu Reeves: “In the Matrix there is no razor.”

Huh professes to love cats but obsesses over his 11-year-old poodle mix, Nemo. The dot-com survivor devotes long hours to the Web sites and works through a sense of purpose along with a sense of humor.

Strong Rental Markets in a Weak Economy

Foreclosures are up, and home-born prices are down nationwide, but in many metro areas the account of rents market has improved since 2007

by dint of. Prashant Gopal

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Michael Rodriguez planted a "For Rent" auspice one Sunday morning in the compound of a three-bedroom, two-bath house he owns in Salinas, Calif., a agriculture community 10 miles inland from the Monterey Bay beaches and about any sixty minutes from Silicon Valley.

That appointed time, Rodriguez admitted 34 calls from prospective tenants. "The next day, I was talking to some, and I looked into the bargain and the sign was gone," aforesaid Rodriguez, the broker/owner of Platinum Capital Mortgage & Estate in Salinas. "Somebody was trying to eliminate the rivalry."

Salinas, same much of California, is facing a housing slump and a surge in foreclosures. But the account of rents mart is humming along thanks to its relatively affordable housing costs and proximity to Silicon Valley, at which place high-paying tech jobs are plentiful. Salinas metro circle hall rents increased 5.6% in the third part divide, compared with the same period last year, and the vacancy rate has fallen to 2.4%, unit of the nation’session lowest.

Where the Jobs Are

BusinessWeek.com asked Dallas room information company AXIOMetrics to rank the metropolitan areas with the best and worst effective rent (the asking solution of continuity less any landlord lease concessions) and found that, of the 88 U.S. metro areas tracked by the company, Salinas was the sixth-strongest. In Tacoma, Wash., where there is an overflow of military personnel from nearby bases looking for apartments, rents increased 7.8%—the biggest increase in the nation. Salt Lake City, Tulsa, Oklahoma City, and Long Island, N.Y.—areas with robust job markets—also made the top 10.

"The culminating point rental markets were less impacted by means of the housing bubble blasting," said Ronald G. Johnsey, president of AXIOMetrics. "The job growth in these markets is probably still good, though the rate of job growth is declining."

Florida and Arizona dominated the list of metro areas with the biggest crack drops. Housing prices in those states are crashing, and so many people who could not sell their homes have instead put them on the mart as rentals. Those single-family home rentals are competing for tenants through apartment complexes. Effective rents acquire fallen as much as 9% in the put down Florida markets—Naples and Cape Coral—where vacancies have jumped to relating to 17%. Apartment landlords are sacrifice two or other months of free divulsion in some cases to fill vacancies.

The single-family home rentals are "affecting the apartment rental market," said Jack McCabe of McCabe Research & Consulting in Deerfield Beach, Fla. "That’sitting going to continue to happen until you see a decline in the for-sale inventory. Once that happens, people renting out these units will end up putting them up for sale and that will lessen the rental inventory."

Sitting on the Sidelines

Keith Oden, president and trust manager of Houston’s Camden Property Trust (CPT), one of the nation’s largest real estate investment trusts concentrating on multifamily housing, says the weakness is concentrated in places such as Arizona, Florida, and Nevada, where the job market is weak.

But in much of the country, rents are strong. People are happy to sit on the sidelines and rent till the for-sale market returns, he said.

"Fewer people are moving abroad of our apartments to buy homes," Oden said. "Last year in our portfolio, about 20% of tenants moved out to purchase a domestic. In the before anything else six months of this year, it was 14%."

In Tacoma, which continues to experience job growth, many people are renting because—with increasingly restricting lending standards—it’s tough to qualify to purchase, said Dick Beeson, factor/owner of Windermere/Commencement Associates. Tacoma is attractive to renters because it is an affordable alternative for people who work in Seattle, just over 30 miles away. Beeson said he expects rents to begin stabilizing next year as more investors lease out homes they couldn’t sell.

Mortgage Avoidance

In changeable times, population separation, reported Walter David Smith, conductor of Belhaven Residential, which owns 315 apartments near downtown Jackson, Miss., the third-best apartment market on our list. The demand by reason of apartments was boosted in Jackson after Hurricane Katrina flooded the coastal areas and forced refugees inland.

The tasteless housing market is keeping people in leases, Smith aforesaid.

"This period last year, we probably had 10% vacancy," Smith said. "Right now, we’re at full occupancy."

Eric Thomsen, a 32-year-old computer network analyst who rents a one-bedroom apartment in Jackson for $509 a month, is not forward to commit to anything more than a one-year lease.

"When the regulation is unsure, you’re unsure," Thomsen said. "It’s easier to work your way out of a lease than a mortgage."

This is who I am: Defining mixed-race identify

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Rachel Clad’s parents are a black woman from Detroit and a pale man from California who met in the Peace Corps in Africa.

Clad, 26, was born in New Zealand and spent her early years in far-flung abilities of the terraqueous globe before her family settled into a middle-class lifestyle in Washington, D.C.

She’ll tell you she’s multiracial.

“People await at me and see African American,” she said. “In my mind, that’s not who I am. I’m both and I’d like to exist seen as both.”

Aaron Hazard’s generatrix was a French-Canadian white woman who met his African-American father at a dance in Boston in the 1930s, at a time then such unions were forbidden.

When he signed up concerning service during the Vietnam era, the Army listed him taken in the character of white, for all that Hazard has never referred to himself as anything other than black.

“It’s what my father was and that’s what I am,” the 62-year-old South Seattle resident said. “Back then there were too many hoary people to remind me of it.”

Barack Obama’s ascend to prominence has broadened the dialogue around race in a country that has always done a poor job talking all across it. And this new suit is prompting some vulgar herd of mixed race to more closely examine how they define themselves.

That’s especially so in Greater Seattle, which has a higher concentration of mixed-race population — nearly 4 percent of the area’s population — than any other large metropolitan area in the country.

“One of the biggest mistakes people make in this canvassing is assuming there’s single one correct means by which anything is reached to be biracial,” said author Elliott Lewis, who grew up in Eastern Washington and has written about the biracial experience.

“There are all kinds of ways rabble case their identity, each common equally valid.”

These days, multiracial and biracial the bulk of mankind see themselves everywhere — in the people office, on movie screens, in the corridors at school and on the street.

Regardless of who their parents are, how they define themselves is influenced by many factors: their vale of years, how they assume a manner, where they were raised and how they’ve lived.

And as personal as those position are, they speak of common experiences, too — of the discomfort in overhearing derogatory remarks about undivided of the racial groups they belong to. Of their uncertainty about which race box to upon when they be able to check and nothing else one on forms to enroll in chide, get a mortgage or apply for health insurance.

And on account of many, exasperation through that inevitable query from sometimes perfect strangers: What are you? It’s a presumptuous topic Lewis calls “racial interrogation.”

Increasingly, many racially joined juvenile people are choosing to define themselves not just by a single race but as a blend of races — multiracial, biracial or by more other label.

Golf legend Tiger Woods, for example, coined the term “cablinasian” to describe his Caucasian, black, American Indian and Asian heritage.

And Obama, in identifying himself like black, is quick to note his mother was a white woman from Kansas and his father a black man man from Kenya. In his memoir, “Dreams from my Father,” he writes of his struggle in coming to terms with his own racial identity.

“For divers of us who share Obama’s racial background, there’s a never-failing sense of pride in his achievement,” said Michele Peake Andrasik, food president of the Seattle-based MAVIN Foundation, which advocates without interruption behalf of multiracial people.

Darlene Flynn, a former Seattle School Board member who is the daughter of a white mother and black father, said that “pop we have a biracial presidential solicitant and that elevates the curiosity, the need to know more about it.

“And if that furthers the converse around race … so much the better.”

Changing of historical “rules”

In 1961, the year Obama was born, mixed-race marriages like that of his parents were against the enactment in at least 16 states.

Six years later, the U.S. Supreme Court declared so laws unconstitutional, together with the accompanying “one-drop” control, which held that any person with any one African ancestry be considered black.

In the years that followed, the country witnessed an increase in interracial marriages, although the legacy of the one-drop rule still drives the way some of of various kinds heritage are seen by others, and how they see themselves.

“There were historical rules … that if you were associated and had a parent who wasn’face to face white, then you checked the census box of the parent who wasn’t hoar,” said Maria P. P. Root, a Seattle clinical psychologist who has written extensively adhering mixed race in America.

“There was this gate-keeping around whiteness. The public still hasn’t gotten around to the fact that you be possible to have existence blended.”

In 2000, the U.S. Census allowed people for the primary time to check more than one box to identify themselves. Nationwide, 6.8 million lower classes did — 2.4 percent of the population.

The concentrations of mixed-race residents are highest in places like Seattle, where grandeur laws never prohibited interracial marriages to start with, and where the minority population is especially small compared with the pallid population, resulting in more racial mixing.

Becoming comfortable with racial identity

MAVIN’s Andrasik said that despite for what cause society sees them, “multiracial people should choose be it what it may makes them free from pain.”

A clinical health psychologist with a spotless mother and African-American dad, Andrasik, 37, said that when she was younger she struggled like many of mixed race with self-identity. But over time, she said, she came to identify while African American, in large part being of the class who of her work in health research, which focuses on helping disadvantaged black women earn better physical and mental-health care.

“For some the public, the way they feel in an opposite direction their racial identity can change over time; for others it remains static.”

Sometimes it can vary by circumstances.

Seattle City Councilman Bruce Harrell, 49, thinks of himself as being of mixed race — the son of a Japanese mother and an African-American father. “I affectionate regard my mother and father equally and embraced both their cultures,” he said.

When filling disclosed forms, though, Harrell reported he selects African American, because “historically there hadn’t been a box for mixed heritage.”

But ask him to represent himself and the councilman will tell you he’s a “big Japanese guy,” because that’s how he looks. “Most people would not know that my father was a handsome African-American man from Louisiana,” he said.

And at that time there are those who, because of by what means they turn the thoughts, be enough not receive to confront their racial duality — whether or not not they choose to do so.

As a child, Bryon Friel wondered if he really was adopted because his brother and sister constantly told him that he was.

His two siblings have the dark hair of their Cherokee mother while he, with his fair hair and green eyes, didn’t resemble anyone in the family — not even his brown-haired Irish dad. Now the 46-year-old finds he must produce his tribual card to make good to skeptical friends that he is indeed half Native American.

“Unlike most biracial people, I never get asked, ‘What are you?’ ” said Friel, branch manager for Sapphire Design, an engineering staffing agency in Lynnwood. “People simply assume I’salmagundi white.”

“We form into a body this whole racial struggle”

Even whenever given the option of choosing among the boxes that tell a fuller story of who they are, many multiracial people still stick to undivided.

That’s distinctly true of those with a black-and-white mix who remember the worst of this country’s racial strife and who are more probable than their children and grandchildren to automatically sameness as black.

Hazard, who retired from Boeing earlier this year, said, “For multitude, many years, ‘other’ was not a choice.”

Lewis, 42, the author who worn out his youth in Pullman and now works as a freelance TV reporter in Washington, D.C., calls himself multiracial. His parents, both biracial, he said, didn’t have the corresponding; of like kind options.

“If you grew up during segregation there was in no degree biracial water fountain,” said Lewis, who wrote the book “Fade: My Journeys in Multiracial America.”

“You didn’t have the option of saying you’re half and half and therefore should drink from both.”

Root, the clinical psychologist, said younger people are changing the rules about self-definition, bucking convention that demands they choose a single race.

“The legend is changing and the process of by what mode people identify is changing from what it was 20 years ago,” she before-mentioned. “There are a lot more canaille that look like them now and they have more options.”

Take Clad, who grew up in a mostly white middle-class neighborhood in Washington, D.C. That she doesn’t sameness herself as black sometimes puts her at odds with conclusions others cut when they look at her.

Yet to call her black, she declared, is to completely misrepresent who she is.

After her parents moved back to the states in the 1990s, she attended a mostly frosty, private, all-girls school and later graduated from Georgetown University.

“I’ve traveled and lived in so many people accomplishments of the world. This is the only country where what I am seems to matter,” Clad said.

In Southeast Asia, some people thought she was Malaysian. In Paris they thought she was French. “Americans have a tendency to want to compartmentalize people” strictly by race, she said. And even at that, “You can’t be mixed. It has to be one or the other.”

She’s felt the sting of racism from the couple blacks and whites, she said, describing how a group of black girls on a train in D.C. formerly accused her “trying to look black.”

Equally hurtful was the rejection she felt when the parents of a white guy she’first appearance been dating for two years undeniable in the place of reasons she never learned that it was time for the relationship to period.

“As biracial people, I feel we embody this whole racial struggle,” she uttered. “If you don’t identify solely as black then somehow you’re seen as distancing yourself from the struggle.”

Embracing multiple cultures

Krystle Cobian so equally embraces the cultures of her Mexican father and Filipino mom that she at no time feels comfortable when forced to single out just one.

Cobian, 21, a Seattle University graduate scholar from Southern California, uttered her parents shared the immigrant experience and found wonderful similarities between their two cultures, which in turn enriched their children’s lives.

“When I was junior I used to alternate,” she said. “If I checked the Latino box last time, I’d examine judicially to remember to check Asian the next. I petty much still execute that now.”

Stefan Schachtell, a Capitol Hill minstrelsy producer, moves easily between the cultures of his German progenitor and Mexican mom.

Growing up in Boise, Idaho, he learned both languages, deliberate in the one and the other countries, joined the German American Club and listened for hours to the retelling of his mother’sitting colorful stories of Mexico.

When he was young, other kids taunted him with the nickname “MexiGerm.” But now, at 34, he has come to appreciate that description, it being so it as apt.

“I’m proud of the certainty that I’broil German and Mexican and I would love to include one as well as the other on a conformation.”

A contend for reception

But some four decades after miscegenation bans were outlawed, race-mixing still remains taboo in some families.

Harrell, the councilman whose late father was gloomy, said “many of my older Japanese relatives explicitly disapproved of my source marrying my engender. It took other thing than 20 years before they came to take . that he was a good father and spend frugally.

“For my father’s origin I put on’face to face opine that was her first preference for her son, but over the years she accepted my generatrix as a daughter.”

Kouvon Stephens, a 34-year-old warehouse worker from South King County, before-mentioned that when his white mother from Yakima married his creator, who is black, her parents stopped speaking to her.

And even after they reconciled, Stephens said, his grandparents made no effort to get to know him. He didn’t even meet them until he was 12, after his parents divorced and his grandmamma came to live with them.

He was angry at them, he said, and “for a long time, there was a wall that I built up.”

Eventually, he give permission to it go and developed a dependence by dint of. both maternal grandparents, who in turn got to know his 11-year-old daughter — their granddaughter — before they both died.

He related, “My grandmamma ended up teaching me a lot of things about life.”

Seattle Times news researcher Gene Balk contributed to this report. Lornet Turnbull: 206-464-2420 or lturnbull@seattletimes.com

Delicate embrace by Obama, McCain of $700B bailout (AP)

WASHINGTON - Democrat Barack Obama and Republican John McCain on Sunday tenderly embraced a newly negotiated congressional deal for a $700 billion bailout of the hobbled financial industry.

Woman killed in boat collision on Lake Washington

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A 37-year-old woman was killed Saturday death when the sailboat on what one. she was riding was struck by a speeding motorboat on Lake Washington.

Three other people were taken to Harborview Medical Center with non-life-threatening injuries.

Seattle police assume that a motorboat driven by a 17-year-old male was traveling at proud speed around 8:45 p.m. when it collided with the rear cessation of the sailboat.

Police spokeswoman Renee Witt said the woman was killed on impact.

A Seattle Police Harbor Patrol boat responded to the view and began CPR on the woman, who was taken to shore and pronounced dead. A spokeswoman from the Seattle Fire Department said the woman was thrown from the boat.

The King County Medical Examiner’s Office hasn’t identified the woman.

The accident occurred in the waters between Seward Park and Mercer Island, off the 4500 block of Lake Washington Boulevard South.

Two teenagers in the motorboat, the 17-year-old driver and a 16-year-old female, were treated for minor injuries. A 45-year-old male on the sailboat was also transported to the hospital with a remote injury. A third male wayfarer steady the sailboat was not injured.

Witt said witnesses on support described the motorboat as traveling at a high send away in haste when it hit the sailboat, went up over the back of it and struck the woman.

Seattle police are still investigating the mishap.

Lynn Thompson:206-464-8305 or lthompson@seattletimes.com.

Lawmakers work to nail down $700B bailout plan (AP)

WASHINGTON - Key lawmakers who struck a post-midnight deal on a $700 billion bailout for the financial industry predicted Sunday it would pass Congress, putting in place the largest government intervention in markets since the Great Depression.

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Flexing its political muscle, Congress insisted upon a package that gives lawmakers a stronger palm in controlling the money than the Bush administration had wanted. The rescue concoct casts Washington’s long shadow over Wall Street with the federal government taking over huge amounts of devalued assets from beleaguered financial firms in exchange for more oversight.

Under the design, lawmakers could block half the standard of value and force the president to jump through some hoops before using it all. The direction could get at $250 billion immediately, $100 billion more whether the president certified it was requirement, and the last $350 billion with a separate certification — and subject to a congressional dispersion of disapproval.

Still, the resolution could exist vetoed by the president, meaning it would take extra-large congressional majorities to stop it.

The proposal is designed to end a vicious down worm that has battered all levels of the economy, in which hundreds of billions of dollars in investments based on mortgages gone bad have cramped banks’ willingness to lend.

Lawmakers had to navigate between out of temper voters — great number of whom eye the plan at the same time that a set free bale for the wealthy on Wall Street — and Bush administration officials who warned that inaction would cause the economy to seize up and spiral into recession.

Negotiators sought Sunday to iron out the final shape of the legislation, which House Republicans still had to review. It was their fierce opposition to a treaty rescue that nearly torpedoed an emerging bipartisan pact late in the week.

But officials in both parties were hopeful for a House vote Monday, and the two presidential candidates said they probably would support it.

“This is the bottom line: If we do not do this, the trauma, the chaos and the disruption to everyday Americans’ lives be inclined be overwhelming, and that’s a price we can’t endure to risk paying,” Sen. Judd Gregg, the chief Senate Republican in the talks, told The Associated Press on Sunday. “I do think we’ll be able to be passed by it, and it will be a bipartisan vote.”

A breakthrough came when Democrats agreed to incorporate a GOP call for — letting the dominion insure some bad home loans rather than buy them — designed to limit the sum total of federal money used in the rescue.

Another weighty bargain, very necessary to attracting support from centrist Democrats and Republicans who are fiscal hawks, would require that the government, succeeding five years, resign a plan to Congress on in what way to recoup any one losses.

The presidential nominees came behind the outlines of the bailout.

“This is something that the whole of of us will swallow forcibly and go forward with,” said Republican Sen. John McCain of Arizona. “The preference of doing nothing is simply not an acceptable option.”

His Democratic opponent, Illinois Sen. Barack Obama, sought credit for taxpayer safeguards added to the initial proposal from the Bush administration. “I was pushing very callous and involved in shaping those provisions,” he said.

House Republicans said they’re still reviewing the plan.

“We are not ready to say that a deal is done,” Rep. Eric Cantor, R-Va.

Congressional leaders announced a tentative deal in the early hours of Sunday morning hind marathon negotiations at the Capitol.

“We’ve still got more to accomplish to finalize it, but I think we’re in that place,” aforesaid Treasury Secretary Henry Paulson, who also participated in the negotiations in the Capitol.

Executives whose companies benefit from the redeem could not get “golden parachutes” and would see their pay packages limited.

The government would derive stock warrants in go for the bailout projection, giving taxpayers a chance to share in financial companies’ future profits.

To help struggling homeowners, the plan requires the government to try renegotiating the shabby mortgages it acquires with the aim of lowering borrowers’ monthly payments thus they be able to keep their homes.

“Nobody got everything they wanted,” said Democratic Rep. Barney Frank of Massachusetts, presiding officer of the House Financial Services Committee. He predicted it would make over, though not by a large majority.

Gregg, R-N.H., aforesaid he thinks taxpayers bequeath come out as financial winners. “I don’t think we’re going to lose money, myself. We may, it’session possible, but I irresolution it in the long run,” he said.

Economy Dominates the Debate

Both John McCain and Barack Obama claimed victory in a debate that led off with what the $700 billion bailout means for Main Street and Wall Street. In Congress, talks perpetuate

by dint of. Phil Mintz

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Friday night’sitting beginning Presidential debate between senators John McCain and Barack Obama was supposed to focus on foreign policy and national security. But with the people gripped in a deep financial crisis and lawmakers in Washington haggling over a $700 billion bailout plan, economic pain trumped Iraq, Iran, and host of other international concerns.

While the candidates staked out vigorously differing views put on how they would approach the economy as President, neither solicitant was willing to wholeheartedly compromise to supporting the still evolving plan. Instead, they stuck with enunciating some general principles they hoped would supervise an agreement, which, if weekend negotiations bear fruit, could come to a vote as early as Sunday night.

Debate moderator Jim Lehrer acknowledged the economic situation directly in his opening remarks at the war of words in Oxford, Miss., noting that the definition of exterior policy and national security included "the global household crisis." He began the debate by a series of questions with respect to the monetary crisis and the bailout plan, asking each candidate whether they favored the plan being developed. Obama answered: "We haven’t seen the language up to the present time, and I swindle think that in that place’s constructive work being done out there." He added, "I am optimistic about the capacity of us to come together with a contrivance."

McCain Stirs Controversy

Asked admitting that he would vote in favor of the plan, McCain said, "I hope so, and I confident so."

Obama said, "Although we’ve heard a lot all over Wall Street, those of you on Main Street, I think, have been struggling for a while." He assortment wanting four basics for a bailout agreement: oversight, the ability of taxpayers to profit from gains when the markets recover, preventing bailout money from "going to pad CEO keep one’s funds accounts or to promote golden parachutes," and helping homeowners.

McCain, who on Wednesday cut wanting preparations for the debate to make a polemical trip back to Washington to involve himself in the bailout talks—also evoked "Main Street" and "Wall Street," and called for "transparency" and "liability and oversight." McCain also said the plan "has to have options for loans to shortcoming businesses rather than the government taking past those loans."

Bailout Could Crimp Plans

Otherwise, the candidates stuck to familiar economic ground, with McCain saying that he would start to make plain the financial crisis by the agency of going behind out-of-control spending and earmarks, and Obama saying he would "grow the economy from the bottom up," through tax cuts that would reach "95% of working families." Both candidates agreed on the need because of alternative energy sources, including offshore drilling and construction of strange nuclear plants.

Asked which proposals the candidates might esteem to scale back because of the costs of a bailout, Obama acknowledged "there are a range of things that probably going to be delivered of to be delayed," such as some choice energy programs. McCain, for his part, suggested eliminating ethanol subsidies and cost-plus military contracts. Pressed further by Lehrer, McCain offered up "a spending freeze on everything but defense, veterans’ affairs, and entitlement programs." Obama dismissed that of the same kind with "using a hatchet where you need a scalpel."

Neither of the candidates landed any serious punches during the economic part of the debate. When Lehrer moved the disputation directly to between nations affairs, the candidates again staked out familiar positions, such as their differences over the initial decision to invade Iraq and the support during the term of the current body "wave." They furthermore sparred from beginning to end what Obama’s report that he would meet with leaders of states such as Iran and North Korea "without preconditions" meant and responses to a more assertive Russia.

Both Claim Victory

Despite prodding through Lehrer, the candidates had little on-stage interaction, both directed their comments mainly at the moderator or the television audience.

Unsurprisingly, representatives of both candidates claimed victory in the debate, but it was unclear if a single one uncommitted voters were swayed Friday night. The Wall Street Journal said after the debate, "both men won on the settlings where they are most comfortable —John McCain on foreign stratagem, and Barack Obama on domestic issues."

Most telling perhaps was the real-time readout that CNN displayed to ascertain the capacity of the reaction of converging-point groups—Republicans, Democrats and independents. The running strip resembled a hospital vital signs monitor, and, as one commentator wryly noted after the debate, it resembled that of a dead person.

How Sony Ericsson Made Windows Nicer

When the handset maker created a of the present day user interface for its Windows-based phone, Microsoft first said ‘No, no, no’—but then relented

by Natasha Lomas

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With Sony Ericsson’session inaugural Windows Mobile design set to be launched in the to come days, the handset maker has revealed that it had to convince Microsoft to embrace plans to make the Windows interface more user-friendly.

Sony Ericsson hopes the Microsoft stratagem, first announced at the Mobile World Congress event in February, will appeal to ‘fast subsistence’ professional users who want to be able to use their device for work and play.

To take the device beyond Windows’ traditional business roots, Sony Ericsson has added a user-friendly front-end to the OS in the fashion of nine customisable panel icons. The panels render capable users to run applications straight off the desktop, rather than digging from one side the Windows menu structure to find and boot them, and the phone maker has also launched an SDK to encourage developers to create more and more panels.

Keisuke Kakoi, be pointed of product and request planning, convergence unit, said Microsoft’s initial response to Sony Ericsson’s contrivance to skin the OS with panels was not a positive one: “I still remember in the very beginning aspect we disclosed our panel concept a slight bit to Microsoft and [the] first reaction from Microsoft was ‘no, no, no! Please stay [with the] Microsoft way, Windows way’. But we showed the panel reference to practice, [and] then Microsoft take the top off management suddenly changed to, ‘Yes, OK, you should do that’.”

“They change their mind quickly. So I think this is unit very simple example. We are it being so that very much closely working with Microsoft, [and] they very a great deal of…understand our military science with the panel concept. We are getting lots of help from them as well.”

The X1 runs the Opera mobile tissue browser being of the kind which default, despite moreover having Microsoft’s Internet Explorer. Sony Ericsson has high hopes for the Xperia — not just that it will seek reference of the case to ‘prosumers’ but could even tempt enterprises away from the wares of BlackBerry-maker RIM, which has also been adding in a multimedia diversion edge to its offerings.

Kakoi added: “As you can imagine, with our sister companies like Sony Pictures and Sony BMG, everyone has offices on West Coast [of the US] — we have power to work easily [through them] of progress. Unfortunately RIM cannot terminate that.”

“But also we are enter upon to working with RIM — they are approaching us as well because they have the Windows Mobile BlackBerry person represented so it’s vice versa. You can see BlackBerry and its size as show [emulation] but also we can potentially moil together. So this is an open platform product really.”

Kakoi works at Sony Ericsson’s Silicon Valley office, statement the company wanted to own a base in the heart of web development country where there are “so many creative companies,” adding it is but also working with Apple in “the connectivity area.”

Asked why it has chosen to offer a Windows Mobile phone now, company CTO Mats Lindoff said: “The hazard started in 2001 — those days we had four, five per cent emporium share, today we have eight, nine, I think we had well-nigh 10 in Q4 and of process when you grow you can also increase the suitable to develop, you have more resources, you are reaching out to more markets.”

“And we also of course want to focus on the US, at what place Windows Mobile is abundant stronger than Symbian and that’s the only business phone we’ve done in the past. So for me it’s a natural development of the company and I also presume that [as for] operating systems we are not conscientious.”

Lindoff added he didn’t rule out the chance of the Xperia being a Symbian Foundation product in the that will be.

Asked why the Xperia X1 has been in development with regard to such each apparently long period, Magnus J. Andersson, senior production governor X1, said: “We’ve done this in a record time. I remember we talked about this [internally] ‘is this the right time to savor out at Mobile World Congress? It’sitting quite early in the development phase, should we wait?’”

“That’s what we normally do onward development projects, we announce them when they’re nearly finished. But we said nay, we’ve kept this to a high degree well as a shrouded and we have matter pretty unique, we have something great to tell the audience so let’s upright do it.”

Kakoi added that Sony Ericsson has wearied more time than usual developing the X1 as it’sitting a “renovated platform for us.” Since February, he added, the handset maker has been working on performance tuning and also customisation for each market the phone be disposed be sold in.

“It’session not that it’s taking us very long, we actually announced it very forward…We are still delivering and performing on our primordial schedule that we had that day in Barcelona [at MWC],” Kakoi noted.

The GDP Revision Raises Recession Risk

Action Economics says the in a descending course adjustment to second-quarter growth may signal accelerated weakness in the third and fourth quarters

by Michael Englund and Rick MacDonald

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As if the worries about a congressional stalemate upon the body the government’s proposed $700 billion financial rescue plan weren’t enough, two economic reports released on Sept. 26 both added to pessimism about whether the U.S. economy have power to skirt a recession. Indeed, downward revisions to second-quarter enormous domestic product and the University of Michigan’s closely watched gauge of consumer sentiment are likely precursors, in the one and the other cases, of worse news to come.

For GDP, notwithstanding what is still a uncommonly impressive 2.8% second-quarter GDP gain, this downwardly revised growth figure is poised to be followed by slower growth in both the third and fourth entertainment. For Michigan sentiment, it is clear that a rebound in gasoline prices, the two hurricanes, and the seemingly without end bad news from the financial markets are capping the confidence rebound earlier in the month and may give an inkling of a renewed weakening in confidence as we enter October.

The downward bump in the final 2.8% U.S. second-quarter GDP gain from the 3.3% preliminary figure was led by a surprising revision lower for service expenditure that took real (inflation-adjusted) growth for this component from 1.3% to 0.7%. This occurred alongside a largely as-expected $4 billion boost to fixed investment, and a downward $5 billion bump to net exports. We also saw a small and unexpected $1 billion downward inventory good order.

A Big Net Export

The final second-quarter GDP figures still depict a cut to pieces with a big net export contribution, which is now pegged at a massive $81 billion that added 2.8% to second-quarter growth—basically accounting for the entire headline increase—side by side a big $40 billion inventory subtraction that drained 1.6%. Growth in the second quarter was also boosted by a 1.2% real growth rate with respect to decline, with a much larger rebate-fueled 5.5% nuncupatory (unadjusted for inflation) waste clip that was mostly offset by means of price gains, alongside a robust 18.5% pace for nonresidential explanation.

Government expenditure posted a solid 3.9% increase clip, while apparatus and software expenditure contracted at a 5.0% rate. Residential construction continued its downward spiral, though at a diminished rate of 13.3% following quarterly rates of decline of 20% to 27% in each of the prior three quarters.

We at Action Economics will keep our third-quarter GDP growth forecast at 1.7% until the Sept. 29 release of the August personal gains report, notwithstanding that there is downside expose to danger to our estimate from the lower service consumption trajectory in the second-quarter GDP data.

Estimate Knockdowns

The economy is at present entering the fourth quarter on a particularly frail footing, through notable downside risk from our 0.6% GDP forecast. A negative headline GDP reading in the fourth quarter would almost certainly mean that the National Bureau of Economic Research (NBER) business-cycle dating committee—the body that is the in addition or less official arbiter of U.S. recessions—will back-date a recession to the start of 2008, contempt the notably positive growth rates in the second and, likable, third district as well. The data in the August revenue report, as well as the evolution of events in the markets through the next hardly any pursuit days, might well knock down our fourth quarter GDP estimate sufficiency to reach it added likely than not that all of 2008 direction meet the NBER’s recession criterion.

The Michigan sentiment hand revealed a downward bump to 70.3 in the final September report from the 73.1 figure in the introductory report, modestly narrowing the cranny from the 63.0 August perusal and the cyclical low of 56.4 in June. The to come expectations index was lowered to 67.2 from 70.9, though the outline is still well above the 57.9 August reading and 49.2 June cyclical low. The downward arrangement in the current conditions characteristic to 75.0 from the 76.5 preliminary reading narrowed the smaller gap for this measure from the 71.0 August reading and 67.6 June cyclical low.

The other available monthly confidence measures rose in September, and this is especially constant for the indexes that were released early in the month, ahead of the trifle of negative Wall Street headlines. The September confidence bounce early in the month reflected a big boost from falling mechanical value prices and a surging dollar. Jarring advice headlines and a late-month force price surge is likely capping the gains, and could further empty confidence as we begin October.

We now expect the Conference Board’s consumer boldness report to tell a smaller September bounce than we previously assumed, to 63.0 from 56.9 in August and a cyclical low of 51.0 in June. Early in the month we had expected a bounce to as high as 68, unless we trimmed that estimate to 65 with the sum of two units hurricanes and the gasoline value pop, before the last downward revisal in our forecast on Sept. 29.

Credit Crunch Could Prove Costly for Boeing

Along with its strike and Dreamliner delays, the aerospace giant may be faced with customers who want relief financing new-plane orders

by Joseph Weber

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A three-week-old strike (BusinessWeek.com, 9/12/08) continues to idle Boeing (BA) factories and stall its deliveries of airplanes. But another worry is also sycophantic into the heads of analysts and investors: Unless there’s some break in the credit-freezing monetary crisis, industry-watchers say, potential buyers may gripe off on taking their planes or be forced to turn to Boeing for financial help.

"We believe that the amount of funding from traditional aircraft financing sources is shrinking and that Boeing’s customers may face near-term challenges financing aircraft purchases," Goldman Sachs (GS) analyst Richard Safran says in a short letter to clients.

Just how much this may divide sales—in 2009 and later—is far from distinct. Boeing officials statement they’ll be ready to step in and provide financing, if needed, through their in-house financier, Boeing Capital Corp. (BCC). If pressed, they speak they might turn for help, too, to the federal Export-Import Bank, which is designed to class financing to promote U.S. products overseas. About 75% of the 3,700 planes in Boeing’s record commercial order backlog hail from non-U.S. carriers, especially from the Middle East and Asia.

Still, worries above the top Boeing’s prospects look to be keeping a jungle on the house’s stock price. Boeing’s shares closed at 58.32 onward Sept. 26, down 1.44 for the week. The stock had topped 107 a year ago.

"Far-Fetched Speculation"

While conceding that turbulence in the financial markets is raising challenges, a top Boeing monetary theory executive insists it can keep the planes moving. Kostya Zolotusky, managing mentor of capital markets increase, brands the talk of postponement of deliveries on this account that of financing problems "far-fetched speculation." He adds: "We’ve never had deliveries delayed owing to financing and we don’t consider in advance in the current environment to encounter that." Indeed, even algebraist Safran admits the company should not have to "meaningfully reduce" expected deliveries next year.

Still, Boeing may have being forced to small horse up to continue buyers taking planes. Safran, in his Sept. 25 note, estimates that the planemaker could have to shell out as much as $3 billion nearest year to help hard-pressed buyers. If so, Boeing could construct such funds by selling commercial paper or turning to partner banks, Zolotusky says, even if it would charge more than the buyers could likable make acquisition themselves. BCC, he says, is a "backstop" or "lender of last resort" for buyers.

The financing worries have been amplified by the turmoil at Wall Street investment houses and big relating to traffic banks. Wall Street’s woes were caused mostly by toxic mortgages, which are far removed from aviation economics. Demand, in fact, continues to be strong for planes, especially from carriers in so spots as the United Arab Emirates (with 251 planes of whole sorts upon order from Boeing) and China (350). Passenger exchange remains strong around the world. But of course other industries, from autos to electronics to retailing, have also assumed they were insulated from the housing crunch. Yet every day brings repaired, surprising lessons in to what extent interconnected the economy is.

"There are dark, ominous shadows beyond a happy, protected garden," says Richard Aboulafia, an analyst with the Teal Group, an aviation consultancy in Fairfax, Va. "People are flying. The need for new equipment is very strong, but the in posse for global financial misfortune is stillatory there in the background."