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03/31/2004

Yen-US$ Forex Level

The yen just broke the 105 yen/$US barrier. It went as high as 104.60 yen this morning. At this rate, the yen should crack the parity level before the beginning of summer. Many people in the forex markets speculate that the MoF has given up (for now) their massive foreign currency interventions. I even read somewhere on the internet that John Kerry, Democratic-nominee for the upcoming election, has weighed in on the problems of Japanese intervention in the markets. I don't suspect that Kerry's remarks have influenced the boys at the MoF one little bit.

So, the recent non-interventionist stance sure has me thinking: Are the MoF boys planning on sitting on the side lines and waiting until after the summer to intervene? Or have they signaled the end of massive interventions to Japanese manufacturers and Nippon Keidandren? The Japan Federation of Business Leaders have often publicly stated that they desire a forex level of 115 or lower in order to give companies time to adjust to a new world economy of a stronger yen (AGAIN!).

At this rate of fall for the dollar, I should pull out my US$ Amex card and begin using it again. The last time I think I used the card was when the yen was strong and getting stronger.

(Excerpt from Nikkei News)

TOKYO (Kyodo)--The U.S. dollar fell below 105 yen to hit a 45-month low against the Japanese currency Wednesday morning in Tokyo on speculation that Japanese monetary authorities have halted their massive dollar-buying interventions, dealers said.

(More news: Reuters.com)

03/30/2004

Office 2003: Student Edition

Just received Office 2003: Student Edition yesterday. Up until Monday, I was using the reliable Office 2000 Premium Edition. Wanted to upgrade and see if the 2003 is better than the 2000. Oh, why did I order the Student Edition? I am slowly working on my MBA so I am still a registered student. Educational discounts sure come in handy! Once I get some time in with the software, I'll blog some comments about it.

I wonder if Bill and Steve will read my comments?

Roppongi Hills Doors Sensors: Speculation on Cause

Article from the Asashi Newspaper

Revolving door sensors didn't `see' boy, video shows

The Asahi Shimbun

Footage from a security camera strongly points to the possibility that sensors failed to work, causing the tragic death of a 6-year-old boy who caught his head in a revolving door of the Roppongi Hills complex, police said Monday.

Speculation now focuses on blame for the sensors' failure to notice the child.

The footage showed that when the boy, Ryo Mizokawa, approached the door, it continued to revolve at its regular speed, 80 centimeters per second. As a result, as soon as the revolving door hit the boy, it pushed his entire body and smashed him into an edge of a stationary wall, police said.

Police suspect that poor maintenance of the infrared sensor could have weakened its detection abilities, and, as a result, caused the accident.

According to police, the boy was holding hands with his 38-year-old mother when they were walking toward the Roppongi Hills complex. When they approached the entrance, the boy let go of his mom's hand and ran toward the revolving door.

There was an 80- centimeter-high barrier consisting of two poles and red belts in front of the revolving door. But the footage shows that the boy ran around the guard ropes and tried to enter the revolving door. Because he was running, his body was leaning slightly forward.

The infrared sensors were installed on the ceiling and at 15 centimeters from the floor. It's possible the sensor near the floor did not detect the boy because of his stance.

The sensor on the ceiling was originally designed to detect an object between the 2.4-meter-high ceiling and 80 centimeters from the floor. However, when the police investigated the accident scene, they found that the sensor on the ceiling failed to detect an object that was 117 centimeters tall-the same height as the boy.

Sanwa Shutter Corp. is the parent company of Tajima Junzo Co., maker of the revolving door.

According to Sanwa Shutter officials, the sensor's detection abilities would be weaker if there were dust or dirt on the sensor. Also, they said, there is the possibility that maintenance workers had intentionally made the sensor's detection abilities weaker. Set to be highly sensitive, the revolving door would often stop unnecessarily.

Mori Building Co., which manages the complex, and Sanwa Shutter are disputing what was said in a meeting held two days after a previous incident.

On Dec. 7, a 6-year-old girl was also caught in a revolving door and suffered slight injuries on the back side of her ear.

Mori officials said they realized then for the first time that the sensors had a blind spot and asked Sanwa officials to make the blind spot smaller.

Sanwa officials contend, however, that Mori officials complained in that meeting that the revolving door often stopped suddenly.

So, Sanwa officials said they told the Mori officials that the sudden stops could be prevented if the sensors' detection coverage were made smaller.(IHT/Asahi: March 30,2004) (03/30)

Roppongi Hills: Police Raided Offices

I was very surprised to read on the internet that the police raided the offices of the Mori Building Co. who operate Roppongi Hills. When I went down for lunch today, there was a few more people from the press camped out on the plaza. (I have never seen so many Nikon D2H cameras in one public location until this afternoon.) The building operators and the door manufacturers are at the receiving end of heavy scrutiny by both the police and the media. I don't expect this to end at anytime soon.

Here is a short excerpt from a few articles on the Nikkei News web site.

Police Search Mori Building In Revolving Door Probe

TOKYO (Kyodo)--Police on Tuesday searched the offices of the operator of Tokyo's Roppongi Hills commercial complex where an automatic revolving door killed 6-year-old boy last Friday by crushing his head, and also looked for evidence at the door's distributor.

Police To Raid Sanwa Shutter On Door Death

TOKYO (Dow Jones)--Japanese police will search the premises of Sanwa Shutter Corp. (5929) Tuesday.

03/29/2004

More News on the Roppongi Hills Accident

Apparently, the revolving doors system does not have a special safety feature built into its design. I wonder if this fact will influence how the authorities will punish either the door manufacturer or Mori Building Co.

I know this may be in poor taste but shouldn't we place some of the blame on the mother of the child? Why was the child allowed to run unattended into a revolving door system when it was about to close?

(Mainichi News.)

(The Japan Times.)

My Visits to the USA



create your own personalized map of the USA
or write about it on the open travel guide

Okay. I am not a well-travelled person when it comes to our cousins to the south.

Dr. Rice: Why must she testify in public?

If Dr. Rice has already testified in closed-door sessions, why must she testify in public?

(CNN.)

03/28/2004

Bobby Valentine: Chiba Lotte Marines

What a wonderful way to start off a new season for the baseball team and return of their old manager, Bobby Valentine. In 1995, the popular manager and very much successful leader was basically booted off the team by then-General Manager Tatsuro Hirooka. The relationship between the two was often written about in the sports dailies back in 1995.

In yesterday's season opener, the team handed Valentine a wonderful present: the game winning baseball. I don't follow Japanese baseball very much but I am glad that Valentine chose to return to Japan and lead his former team again. It will make for a very interesting year and hopefully, more wins for the often lackluster team.

Here is an article from The Daily Yomiuri newspaper's web site. (Note: The Daily Yomiuri does not archive its web articles so I have posted it here.)

Sweet day for Valentine @$: TOKOROZAWA, SaitamaMake no doubt about it, Bobby Valentine is back, creating a stir and thri [sic]


Jim Allen Daily Yomiuri Sportswriter

Make no doubt about it, Bobby Valentine is back, creating a stir and thriving on the response it gets.

A lot had happened in the 8 years 181 days since Bobby Valentine last won a Pacific League game.

In 1995, Valentine was fired despite managing the Chiba Lotte Marines to a second-place finish. He returned to the States and took the New York Mets to the World Series before following destiny back to Chiba this spring.

On Saturday, the Marines provided their hyperactive skipper with the perfect homecoming present, a 5-3 victory over the Seibu Lions on opening day at Seibu Dome.

"What a fun game!" Valentine shouted to his players as they exited the field. "What an exciting game, huh? Yeah!"

On the same field where he last managed the Marines to victory on Sept. 28, 1995, Valentine clutched the ball closer Masahide Kobayashi threw to record the game's final out and puckered up to it for the cameras.

"I'm going to treasure this ball," said Valentine, with a look of complete satisfaction. "Like the ball from my World Series win and the ball from my Little League no-hitter. I'll treasure this one like those two others.

"It's so great that Kobayashi gave it to me. I was really touched."

In the big scheme of things, teams get no extra credit for winning on opening day, but the manner of the victory had Valentine beaming.

"It's just one win and this is a long season we have," said Valentine. "But it was played so well, I got a great feeling from it.

"I don't know how I could have been more impressed."

The Marines played solid defense, appeared to have a plan at the plate, and ran the bases well. Not only that, but they seemed to be having a good time doing it.

While there was little of the in-game trickery that Valentine occasionally likes to show, he had the local media buzzing during batting practice.

On a board in the dugout used to post both teams' lineups, Valentine had ordered three numbers to be written next to the name of each batter in the Lions starting lineup.

Asked what the figures represented, Valentine said it was a method for remembering something about his unfamiliar opposing players.

"And later, I'll add other numbers, and other colors," said the skipper with a grin.

Pressed for details, he told the beat reporters, "You figure it out. That's your homework."

To add to the day's party atmosphere, the inventive and energetic Marines fans repeatedly chanted the manager's name both before and after the game.

With victory in his pocket, Valentine jogged to the edge of the outfield and tried to further incite the club's already energized supporters. He faced the fans, windmilled an arm like a basketball player celebrating a slam dunk and clearly savored the moment.

--Jim Allen

More News: Roppongi Hills - Revolving Doors

Here is some more information on the incident that occured on Friday morning where a young six-year old boy lost his life in an accident.

(Japan Times.)

Short excerpt of the article:

A total of 32 similar accidents have occurred at the Roppongi Hills complex since its opening in April, including 10 in which people sustained injuries serious enough to require transport in an ambulance to a hospital, according to Mori Building Co., which runs Roppongi Hills.

"OK"-sign to Tyco Defense Team

Does this one single act make the case against Tyco officials 'dead in the water'? Is it possible that a mistrial will be declared? (NY Times)

I sure hope the same does not happen in any WorldCom trial. For the record, I was one of the investors in WorldCom that lost my investment when it was revealed that the 'books were cooked'. Company managers who willingly play instrumental roles in the deception of the investors and government should, in my opinion, be found guilty and made to serve prison time. Of course, it is the responsibility of the government to prove, beyond a reasonable doubt, that the charges are true.

In another matter, take a look at the case of People vs. James Olis, former Dynegy executive, who was just sentenced to a 24-year prison sentence for fraud. Ouch! That has got to hurt!

Senkaku Islands or Diaoyu Islands

Japan calls them the 'Senkaku Islands'. China and Taiwan calls them the 'Diaoyu Islands'. I finally took a look at an atlas and now understand where these important islands are located. According to some report by a UN agency, there are possible oil deposits under the islands. If so, I can understand why all three countries want control over the islands.

The islands are once again in the news: seven Chinese activists landed on the islands this past week. They were detained by the Japanese and removed to Okinawa. Eventually after some time in detention, they were released and expelled from the country.

I hope the two economic powers in Asia/Pacific are not going to pull the entire region into a political and/or military confrontation over the islands. With so many problems in this world, China and Japan need not put the world into more turmoil.

(Japan Times.)

(NY Times.)

03/27/2004

Roppongi Hills: Scene of Deadly Accident

roppongi_hills_4.JPG


As I was leaving work last night, the media was all over Roppongi Hills Tower gathering news video footage of the accident scene. I don't know how the owners of the business complex will address any future concerns with the rotating door system. I saw a press conference with the door manufactuers and they stated that the door will continue operating even though their is an obstruction blocking its path. The doors continued operating for 25cm.

In the press, they stated that the building owners did not post guards at the revolving doors to prevent accidents. While this may sound bad, I don't know of many office buildings that post guards at all revolving door entrances to prevent accidents.

With Allies Like These ...

Wonderful article written by Nick Schulz (TCS: Tech Central Station) about how the French government use the USA to serve their own national interests. If it suits the aims of the French government to blame the US, they do so willingly. I am looking forward to the UN's investigation in the alleged corruption of high-ranking officials by the former leaders of Iraq.

Found the link to Schulz from Professor Bainbridge's blog. Thanks.

(TCS: Tech Central Station)

Downsize This! Michael Moore

Just received Moore's book in the mail. I read with much amusement of 'The Etiquette of Downsizing'. Item #8 on his list is very revealing of how companies view their employees: "Don't provide extensive justification for the downsizing decision." I guess this is why the Donald gets away with his now famous (soon-to-be-patented) phrase: You're fired! I wonder if Donald Trump will write a 'How To' guide on firing people? Heck, he might another couple of million dollars for his efforts.

By the way, yes, I do think Michael Moore is way out there in left field and much of what he says and writes about I may not necessarily agree with but it is interesting to read and understand what is happening out in the USA from his point-of-view.

03/26/2004

Roppongi Hills: Terrible Accident

Earlier today a terrible accident caused the life of a very young boy. It is so hard to believe that could happen so easily.

(Mainichi News.)

Alan Riding Finds Ma Yan: Wonderful Story

I read this article in one of the national English dailies which carries the NY Times. In the article titled "Diary reveals Chinese girl's dreams', one can not help to take a step back from our busy lives and think about this extraordinary young woman. Here story and life is one that should be read to young school children. While many of us here in the corporate world think about getting that next big service contract, how many stock options we will get next year, where we should go for lunch, or what to buy for the wife for Christmas, Ma Yan only thinks about getting an education and helping her family out of rural poverty in China.

In the article, the young lady's diaries have been published in most major languages: they will come out in English soon. Alan Riding has kindly brought not only her tales to the forefront of our minds but also the rest of young children in poverty-stricken areas of China.

I hope Ma Yan does get into a great university and becomes a journalist. I, for one, would really like to read about what is happening in China. I hope one day the entire country is freed from the communist reins of the government.

Hats off! to Alan Riding for bringing the story to us.

(NY Times Article by Alan Riding)

March 24, 2004
A Chinese Girl's Diary Builds a Bridge Out of Rural Poverty
By ALAN RIDING

PARIS, March 23 — The long road that brought Ma Yan to the Paris book fair this week began three years ago in the remote village of Zhang Jia Shu in Ningxia region of northern China. At the time she was distraught because her parents could not afford to keep her in school. Today she is the 16-year-old author of "Ma Yan's Diary: The Daily Life of a Chinese Schoolgirl," which has sold 45,000 copies in France and has already appeared in eight languages in addition to French.

Thanks to its publication, her family is no longer poor, and 250 other Ningxia youngsters, mostly girls, now have scholarships to continue studying. Even in Beijing the book has helped some remember the darker side of China's economic miracle.

Initially Ms. Ma's role was accidental. At her boarding school in Yuwang, 15 miles from her home, the preteenage students were required to keep journals. It just happened that one day in May 2001 her account of the struggle against hunger and poverty was given to a group of visitors from Beijing, along with a letter that Ms. Ma's mother, Bai Juhua, had received from her daughter.

The letter caught the attention of the visitors, including Pierre Haski, the Beijing correspondent of the Paris daily Libération. In it Ms. Ma lamented that there was no money to keep her in school. "I'm back in the house, and I till the land in order to pay for my brothers' schooling," she wrote, adding: "I want to go school, Mother. I don't want to work at home. How wonderful it would be if I could stay in school forever!"

Mr. Haski's assistant, He Yanping, then translated the diary, which was written between Sept. 2 and Dec. 28, 2000, when Ms. Ma was 12. Most entries are brief, but they convey her strong character. When an older boy beats her brother, for example, she vows: "If I study hard and make daily progress, I'll go to university and become a policewoman. And if those boys bend the law even a tiny little bit, I won't fail to have them punished." A desire to lift her parents out of poverty is a further motivation. "I must work really well in order to go to university later," she writes. "Then I'll get a good job, and Mother and Father will at last have a happy life." But she also wants to improve herself. "In these times even beggars need degrees," she writes. "Nothing works for you if you don't study. In the big cities even going to the toilet entails being able to read."

One month after reading this journal, Mr. Haski and Ms. He returned to Zhang Jia Shu. Ms. Ma was back at school, but only because her parents had borrowed money and her mother had taken a laborer's job to repay the loan.

After meeting Ms. Ma and her parents the visitors gave them $120 to allow the 13-year-old to stay at school and her mother to pay off her loan.

"For me that was it," Mr. Haski later recalled. "We'd done our bit and would leave."

But after Libération published his article about Ma Yan and her plight on Jan. 11, 2002, Mr. Haski began receiving checks from readers. His instinct was to use the donations to keep other peasant girls in school. But he also received a proposal to publish Ms. Ma's journal in France, and he traveled to Zhang Jia Shu with a contract. By then Ms. Ma had filled another journal covering July 3 to Dec. 13, 2001. (Her father had used the paper of her journal for the early months of 2001 to roll cigarettes.) This diary was much more somber than the earlier one.

"I'm terribly hungry," she writes. "There's been no bread or vegetables since Tuesday. When I eat my rice now, there's nothing to go with it. I even stole a piece out of a comrade's bowl without alerting her. When she came back to the dormitory, she called me all manner of names." She goes on, "I have to study well so that I won't ever again be tortured by hunger and lack of money."

She also worries about her mother, who complains of acute stomach pains. "My mother's face is as black as coal, and her lips are all cracked. She looks terrible. What's wrong with her? Usually when she comes back from her mother's, she's happy, full of chat and laughter. But today ——" She reflects mournfully, "Mother is the saddest and most unfortunate mother in the world."

But with the advance paid by the French publishers things improved. Ms. Ma and Mr. Haski, who edited and annotated the book, decided to give 25 percent of their royalties to the Association for the Children of Ningxia, which Mr. Haski had set up in France after his first article appeared. After "Ma Yan's Diary" came out in France in October 2002, the association's membership grew to 300, and more donations poured in. By February 2003, 42 pupils in Ningxia had received grants.

Since then the diary has also appeared in Italy, Sweden, the Netherlands, Japan, Greece, Taiwan, Japan, Spain and Portugal. An English-language edition will be published in Britain by Virago this summer.

"I thought, `My job as a reporter is to denounce injustice, not to correct it,' " Mr. Haski said in an interview. "Then I found myself in a situation where I could influence reality, but I had to live with that responsibility — to Ma Yan but also to a region that in a sense we have destabilized. The villagers can't understand that something written by a 14-year-old girl could be of interest in France. At times I can't sleep."

Still, he said, the Chinese authorities have been cooperative. "Ma Yan's Diary" was published in China in October 2003, and its author appeared three times on government television. At a news conference she illustrated the fate of many poor peasant girls by reading a letter from a cousin forced to leave school and marry. "By the time you receive this letter," the cousin wrote, "I will already be in the palace of marriage, which is the tomb of my life."

After Ms. Ma finished reading the letter, Mr. Haski recalled, most of the reporters in her audience were in tears. Now, in Paris on her first trip outside China, Ms. Ma seems unfazed by the attention."I can eat when I want to," she said in an interview. "My parents don't have to travel to work. They have bought some land, a donkey, some sheep. They have a motorbike, a new television and a telephone. We have also repainted the house. I think that is enough."

But she has bigger ambitions. "I want to study journalism at university," she said. Asked why, she pointed to Mr. Haski, whom she calls Uncle Han. "Because Uncle Han and others traveled across the country and found poor children like us," she said. "I'd like to be a journalist so I, too, can help poor children."

Mr. Haski conceded that early in this bizarre adventure he worried that Ms. Ma might be spoiled by her sudden fame and relative fortune. But now he feels reassured. "Her teachers say she is still a good student who is generous with her colleagues," he said. Ms. Ma, too, seems aware that she still has far to go. "To get to university in Beijing," she said, "I have to do very well in the exams."

03/25/2004

EU Fines Microsoft $612M

Is this a lot of money? Will the fine prevent the next monopolist from doing the same?

(CBS Market Watch.)

03/24/2004

Geniuses: OK/Cancel

I just spent a good hour going through a wonderful site with wild and funny cartoons. If you are in need of some laughter, you must visit now! Don't wait! Go now!! OK/Cancel.

My favorite cartoon is this one about 'Usability Labs'.

Danah Boyd: Pictures of Robbers?

You have got to read about a terrible incident that happened to danah boyd: her purse was stolen. Luckily, one of people at same locale got a few photographs of the people suspected of the crime. I wonder if the police will solve the crime before fellow bloggers track down the names of the (suspected) culprits? Social Networks: Crime Buster!

(Blog Link)

FBI Tracked John Kerry

No surprise here. The question we all should be asking is "Who wasn't the FBI tracking in the 1970s?" I suspect that the FBI tracked anyone who voiced opposition to the government's position on the Vietnam War. If the FBI is in the business to know what its citizens think about the government, current-White House Administration, US-interests abroad, then I am sure they must be tracking everyone. As each and every person in all probability has voiced 'opposition' to any of the items above, they must have come to the attention of the FBI. How many have protested against the government on its position on Roe v Wade? How many people voiced disgust or contempt for Bill Clinton's transgressions while in Office? How many people are upset at Cheney for his ties to big business? How many people are upset because of the 'issue of outsourcing jobs' to India and China? How many people are unhappy with the quality of water in their cities? How many people are unhappy with the rising gasoline prices? Gee, so many reasons to be unhappy at government. The list goes on and on. So, when someone drags up the fact that the FBI was tracking John Kerry in the 1970s, I believe we should take this as a 'non-issue' and a 'so-what?'. If people are upset that John Kerry was tracked by the FBI, then petition government to change the FBI Charter. [Me thinks that is another valid reason for the FBI to begin tracking you!]

Now, if the FBI has records that Kerry supported 'terrorists', 'communists', or 'some other wacko group', then let us know. Other than something big, I don't think people should be swayed one way or another when they sit in that little voting booth come November day.

(CNN.com)

Police Presence at JR Stations

It's so nice to see that the Metro Police has placed more uniformed police officers at the major JR Stations. Each day, I can see more and more of them at JR Shinjuku. While I hope the mere presence deters lunatics and radicals from waging an attack against Japan, I wonder when we will see metal detectors at the entrance wickets. I sure hope we never see that day come but we had better prepare for it.

When I was in Hong Kong during Christmas 1992, I was shocked to see so many policemen decked out in full riot gear carrying machine guns. Down on Nathan Road (Golden Mile), there must have been about 10 police officers on each and every corner for a half kilometre. While I felt somewhat intimidated by their presence, I did feel a bit safer.

If Japan wants to show its strength and resolve, I expect the NPA and the Prefectural Police Agencies starting massive hiring campaigns to help shore up their human resources.

03/22/2004

Abortion Records: New Battleground

I have not been following this case at all. Need to read up on it when I get some time. If the records have the name of the woman erased, will it still be okay for the federal government to examine those records? Difficult question.

(CNN.com)

Snowing in March???

Yup! Those big white flakes falling from the sky tonight were snow flakes. Unbelievable! It was snowing in West Tokyo earlier this evening. I sure hope it warms up tomorrow!

03/21/2004

Justice Antonin Scalia: Friendship with VP Cheney Under Scrutiny

I find it presumptuous that some believe Supreme Court Justice Scalia can not be objective on any subject matters pertaining to VP Cheney argued in front of the Court. Why would any sitting Justice wish to tarnish his/her good standing and the legitimacy of the highest court in the land by helping a 'fishing buddy'. To think or argue that Justice Scalia would do so is illogical.

(CNN.)

03/20/2004

CFA Leve I - Study Guide

Just received my study guide in the post yesterday. Now I know what I have got to do over the next eight months: I sit for the examination in December. I am no way ready for the summer sitting. Study Session 1 sets the foundation for the entire course of study: Ethical and Professional Standards. Right now I am studying the GIPS(c) standards.

Krugman vs Bush: Again

Paul Krugman, in his op-ed piece for the NY Times, takes another look (shot) at GW for the 'my way or highway' approach to fighting terrorism. In the upcoming elections, political strategists on both sides are telling the electorate what a vote for Bush or Kerry means. In some Republican's eyes, a vote for Kerry is a vote to weaken the Republic. Enemies of the US will see each and every vote for Kerry as a sign that the US electorate does not support the war. While a vote for Bush is being played as another nail in the coffin of civil liberties as seen in some of the Democrat's eyes.

As an impartial observer, I can't vote in the US elections, I hope the US voter can see beyond the political campaign rhetoric and bullsh** and vote for which candidate has the best vision for the US for the next four years. Politicians always talk about planning for the next generation of children but I really don't think most politicians plan that far in advance: They are more concerned about how they will win their next election.

As for Professor Krugman, I would like to see him critque both candidates on how each sees the USA will be at the end of 2010. The candidate with the best vision and the best plans on how to get there should be chosen as the next President of the United States.

(NY Times.)

03/19/2004

Taiwan Shooting: Democracy Threatened?

Was the shooting meant as a warning to Taiwan about China's threat of attack should Taiwan take one step closer to declaring independence?

(Globe and Mail.)

03/18/2004

What now Air Canada?

Is he going to buy the airline or isn't he? That is the question of the day. With Air Canada's union unwilling to give in on the concessions, they have handed Victor Li the perfect opportunity to walk away from the deal. Now, does it cost Li to walk away? Or does he get compensated for his troubles? And if he does give up his plans on taking over the airline, who is going to buy it then?

(Globe and Mail.)

WG - the White Guy's Getting Married!

My old roommate just sent me word that he is finally taking the plunge into marital bliss. He and his lovely future-bride live out on the paradise island of Vancouver Island. I am not sure if I can get away from Japan to help celebrate the festive occasion but I'll do my best.

Oh, if you haven't noticed yet, his nickname is 'White Guy'. He signs all his emails that way. As for me, I'm Killer. I believe I have some photos of WG and his fiancee somewhere in one of my photo albums.

Wonderful news! Indeed...

107.17 Yen to US$: Hooray!

I cannot believe the markets are driving the US$ down and the JPN Yen up! Gee, I never thought it could happen so quickly. I guess the MoF and the BOJ have their hands tied behind their backs right now. I hope the forex markets continue driving the yen up towards parity by the end of the quarter. With any luck, we might see the yen rise to the dreaded 100 yen level before the end of the year. If the greenback drops that low that fast, I'll plan a winter getaway to Hawaii for Christmas.

Forex: Dollar Dives 1 Yen In Tokyo, Threatens To Fall Into 106 Yen Level

TOKYO (Kyodo)--The U.S. dollar dived by a full yen to a one-month low Thursday morning in Tokyo, threatening to fall into the 106 yen range as the market tested Japanese monetary authorities' resolve to halt the dollar's decline.

At noon, the dollar was quoted at 107.14-16 yen against Wednesday's 5 p.m. quotes of 108.20-30 yen in New York and 108.26-28 yen in Tokyo.

The U.S. currency moved between 107.11 yen and 108.36 yen during the morning. The morning low was the lowest in Tokyo since Feb. 20.

(Rest of the story can be found at Nikkei.co.jp - subscription required.)

03/17/2004

Endaka: Japanese Yen Surging Again

Climb Baby Climb! Go Baby Go! I am so happy to see the yen rise above the 108.50 range. I expect it to break the 107.75 level in the very near future. Yeah! Let's see how much the BOJ and the MOF will take before the next wave of forex intervention. Will we see a 105 yen-US$ before the end of the year?

03/16/2004

Richard Werner: Special to The Daily Yomiuri

Very well written article by Richard Werner. He offers a quick look at how Japan is 'dining on a trough' full of US greenbacks. This growing diet of US dollars either is a smart move by the government or a very unwise decision by the government.

Unfortunately the Daily Yomiuri does not provide constant access to the article, so I have copied it here. If you have time, check out the web site quickly because Yomiuri rotates the articles off the site very soon.

Princes of the Yen - A 'must' read if you want to understand Japan and what is happening to the country.

BUSINESS INSIDE / Currency intervention waste of Japanese resources

Richard Werner / Special to The Daily Yomiuri

Last year, the Japanese government spent 20 trillion yen worth of taxpayers' money on buying U.S. Treasury bonds. This was the biggest annual amount of official purchases of foreign currency assets by any country in history. Since then, the Japanese appetite for U.S. government debt has really increased--this January alone, the government bought more than 7 trillion yen (about 68 billion dollars) worth of U.S. dollar assets, almost half of which was spent on Treasuries, breaking all records for such purchases during any one month.

As a result of these investments, the Japanese government has become the single most important buyer of newly issued U.S. government debt.

Some would argue that buying U.S. Treasuries may be a justifiable investment. Unlike stock investors, buyers of government bonds who hold on to the paper until maturity should not lose any money--assuming the government does not default. It is certainly true that among the many assets available, U.S. Treasuries are a viable option for any investor, including governments. But this argument assumes that the Japanese government had the money in the first place. While the Singapore government or the government of the Principality of Liechtenstein may have no national debt, the same does not hold true for Japan.

Admittedly, Japan is a rich country and its gross domestic product is second only to that of the United States. But the Japanese national debt is not far behind the U.S. debt and the Japanese debt-income ratio is higher than that of the United States.

But does the Japanese government not own a lot of assets--the largest foreign exchange reserves in the world, to be precise? True. But these are almost entirely held in the said U.S. Treasuries. Thus it does not make sense to use these foreign exchange reserves to purchase U.S. Treasuries: If that was desired, no new purchases would be necessary, and the government would be happy with the vast stockpile already in its possession. Apparently it is not.

But if the Japanese government cannot use its foreign exchange reserves to buy U.S. Treasuries, how else can it pay for them? After all, for the better part of the past decade tax revenues have been far smaller than government expenditures. The ensuing fiscal deficits have increased national debt to record amounts.

The answer is that the Japanese government has been borrowing money in order to lend it to the U.S. government. Let's get this clear: Japan's government issues debt, such as government bonds, so that it can purchase the government bonds issued by the United States. This raises a few questions. For instance: Does the Japanese government really need to buy more U.S. Treasuries, despite already owning the world's single biggest pile of them? Does it really make sense to borrow money, just to lend the money to another country that needs to borrow?

Here is how the experts have explained events to us in the media: The Japanese government is borrowing money to buy the debts of the U.S. government, because this will weaken the Japanese currency, and that is a good thing for Japan's economy. That's apparently why the International Monetary Fund's Managing Director Horst Koehler, since then elevated to president-elect of Germany, has praised Japan for its actions.

We can quickly test whether this story is true by simply verifying whether such official purchases of U.S. Treasuries have indeed weakened the yen.

There is no such evidence. In 1994, Japan conducted official foreign exchange intervention of more than 30 billion dollars. The yen strengthened to a record high of 79.75 yen per dollar by April 1995. In 1999, Japan set a new world record in official currency intervention, spending more than 50 billion dollars on weakening the yen. The yen responded by strengthening almost 20 percent by the end of that year. The government has remained the sole competitor in the increasingly frantic bid to break its previous records in currency intervention. Despite the foreign exchange intervention of about 200 billion dollars in 2003 and the first few weeks of this year, the yen rose from about 120 yen per dollar to 105 yen.

There is no empirical evidence that the Japanese government is buying U.S Treasuries to weaken the yen--quite the opposite. Also, it is not clear that a weaker yen would actually stimulate the economy, as it makes the badly needed imports of raw materials and intermediary inputs more expensive. Remember, Japan even runs a trade surplus with China.

Instead of holding a world record of 777 billion dollars in foreign exchange assets, mostly in the form of U.S. government debt, the Japanese government could sell them and use the proceeds to pay back some of its own record-breaking debt mountain, or stop issuing new debt--Japanese foreign exchange reserves currently amount to about 86 trillion yen, which should pay for the annual budget deficit.

Yet, the policy of buying U.S. Treasuries must have some beneficiaries, otherwise it would probably not have been adopted.

It certainly has helped the U.S. government. The Japanese purchases of U.S. Treasuries in 2003 were almost enough to fund half of the U.S. government's annual fiscal deficit. Thanks to loyal Japanese support, the U.S. administration has been able to handle its rapidly expanding fiscal deficit with ease, ballooning military and paramilitary costs of running its empire notwithstanding.

What is harder to understand is why Japan, which has the highest debt-GDP ratio among industrialized countries, should go further into debt, just so that the already profligate U.S. government can fund its growing indebtedness. In effect, Japanese taxpayers, already suffering from over a decade of recession, a collapsing pension system and record national debt, are being asked to also shoulder the debts of the U.S. government. It may be convenient for the U.S. military-industrial complex to obtain such generous funding from Japan.

But is it in the Japanese interest? I think taxpayers have a right to demand that their money is spent more wisely and in their best interest.

Werner is an investment strategist and fund manager. He is author of "Princes of the Yen: Japan's Central Bankers and the Transformation of the Economy" (M. E. Sharpe, 2003). Werner can be reached at werner@profitfund.com

Krugman: Is the USA ready?

Krugman in his NY Times piece brings up some very interesting observations surrounding GW's efforts in the battle against terrorism. I respect Krugman for his work in the area of economics and really wish he stay focused and write about topics in that field.

I do understand that the actions taken by any sitting-president affect the economy either directly or indirectly. The current fight against terrorism, or Saddam, or Iraq, or the Taliban cost real dollars. Those dollars used to fight the ongoing war against terrorism must come from somewhere. Either the US government has to begin printing up cash like there is 'no tomorrow' or they must sell treasurys to countries like Japan: a country that never gets tired of gorging itself on greenbacks. While it is too early to tell or judge whether GW has been right or wrong to spend so much money on fighting the enemies of the Republic, I believe it is best left to future historians to determine whether GW led the USA wisely or unwisely.

(NY Times.)

Nortel CFO and Controller Put on Paid Leave

As an investor in Nortel, the news does not please me one little bit. But, I guess that the company is doing its best to put its 'house' in order - this is a good thing! Looks like many investors are getting cold feet as shares dropped 19% on the news. I'll hang onto my shares and give Mr Dunn some more time to fix the company. Hopefully, he knows what he is doing.

(CFO.com)

AIMR: Standards of Practice Handbook

I've begun my Level I preparations. Trying to be logical here, I am following the Study Guide faithfully. This means my first batch of readings come from the handbook. In the handbook, candidates cover the code and the standards of professional conduct. I have gotten through about 30% of the readings thus far. Interesting scenarios. There are five main standards to cover. Each standard has its own sections and sub-sections. After reading the Standard, we can read the application of the standard through the examination of a series of examples. Finally, we cover the procedures for compliance. I'll try to spend the rest of the week to get a good foundation of the material before I crack open the CFA Level I Readings.

03/15/2004

Day Off: Study Time

Decided to take a paid holiday. I really need a day away from the office and get some rest. I woke up at 09:30 today rather than my regular wake-up time of 04:00. Gee, those extra five hours+ of quality rack time sure help!! Yesterday, my wife and I went to Ben Affleck's flick, Paycheck, in Kichijoji. I really liked the movie and hope Affleck works with John Woo again soon. Great action scenes and great storyline.

I guess today will mark the first day of my CFA studies. My books arrived on Saturday morning. I have marked out the chapters I need to read and master for the examination. Today's study session will begin with "Standards of Practice Handbook". The examination date is 5 December 2004. So, it is "T minus seven months and counting..."

Capitalistic China??

Good news for the world! The latest developments in China opens up more economic opportunities for people within and outside of China. The state should never own property that private citizens can own for themselves. What if the PRC is signalling a massive shift in political will and economic might? Many people have predicted that the 21st Century will belong to Asia. Asia will be the engine of economic growth for the world. Will more and more companies set up operations in this region? Will more and more westerners relocate to the region in order to find gainful employment? I wonder if the number of people studying Mandarin Chinese will increase in the next few years?

Sunday, March 14, 2004

China Adds Private Property, Human Rights To Constitution

BEIJING (Kyodo)--Chinese legislators approved Sunday constitutional changes to protect private property and human rights, with Premier Wen Jiabao vowing to uphold the new rules in the face of skepticism that the changes are only symbolic.

Legislators in the National People's Congress approved the package of amendments with a vote of 2,863 in favor, 10 against and 17 abstentions.

The vote came on the 10th and final day of the NPC's annual session, held in the Great Hall of the People on Beijing's Tiananmen Square.

Approved were 15 changes to the Constitution, most notably a new clause that the nation would ''respect and ensure human rights'' and lines that say the government must compensate people for property it confiscates in the public interest.

''With the revisions to the Constitution, China will be stable and that way China will develop faster,'' said Li Liancheng, a delegate from Henan Province in central China.

There was no discussion before the vote, which follows direction from the Communist Party plenum in October.

Experts and NPC deputies say the changes took place to protect private and foreign investment as well as appease some 10 million people who have been forced to give up their homes for infrastructure projects and real estate development.

The human rights clause addresses criticism, often from overseas, that China prohibits freedoms of religion and speech.

Chinese people who have faced legal problems, such as land and home confiscation, say the constitutional changes mean little without court reform and a corruption cleanup.

Throughout the NPC meeting, people from around China tried to approach the Great Hall of the People and complaints offices in Beijing. Police took some home and sent others to suburban resorts to stop them from approaching the congressional deputies.

At a press conference following the NPC closing ceremony, the premier said Communist Party members would lead enforcement of the constitutional changes to set examples for society. He said later that every crime would be punished.

''This amendment to the Constitution is of great significance to the citizens of China,'' Wen said. He called the landslide NPC vote was ''a reflection of the will of the Chinese people.''

Other constitutional amendments link former President Jiang Zemin's political theories to those of Karl Marx, Vladimir Lenin, Mao Zedong and Deng Xiaoping.

The awkwardly named ''Three Represents'' theory advocates an advanced society and economy. The average Chinese person does not know what the theory means.

The amended Constitution also includes the words ''encouragement'' and ''support'' in a section on the non-state economy.

China has amended its Constitution three times since approving it in 1982. The last time was in 1999, when it added language to boost private business.

Brand Marketing: Marth Stewart

Pending appeal, Martha Stewart - the brand, is holding up to the scrutiny of her convictions. I foresee a few bumps in the road ahead for her company, but I believe the brand will hold up and continue to get stronger. People who have never given any consideration on shopping Martha Stewart will do so in the near term. Why? When people really sit down and examine what Martha was convicted of they will find the behaviour of the district attorney and the government downright unfair. She was convicted of lying to federal investigators. While lying is a big 'no-no' in anyone's books, no one should lose their company or respect of their peers over it.

It must be very exciting to be on the inisde of Martha Stewart Living Omnimedia (MSO) right about now: the marketing teams must be working ovetime on how to use the recent convictions to the company's advantage. To be on that marketing team right now would be a 'thrill and challenge of a lifetime.'

(CBS Market Watch.)

03/13/2004

Dick Grasso in the News Again

Just when Mr Grasso thought the worst was over, subpeonas are being handed to him. Will his new troubles disappear if he returns his generous retirement package?

(CBS Market Watch.)

03/12/2004

Nortel: Restating 2003 Results

This is not very good: news of a restatement. I will not give up on the company. I watched the share price hit rock bottom and rise up again. My time horizon is a bit too long for most people but, what else can I do with my money? Just hang on for a few more years. Just keep telling myself - 'only a few more years and I will sell my shares...'

(Globe and Mail.)

03/11/2004

ISPs vs. Spammers

For all its worth, I sure hope the Titans can slow down the amount of spam mail hitting my mail boxes. I don't think anyone can ever stop them but, I will keep my fingers crossed!

(CNN.)

03/10/2004

Ugly Incident - Bertuzzi: Hockey

Just finished reading a news article about a horrific fighting incident that has left one player in the hospital with a severe neck injury. I really don't know how the NHL Board of Governors can reduce or eliminate such incidents as it seems that 'fighting' is an ingrained part of the sport.

(Globe and Mail.)

03/09/2004

SCO Lawsuit: Explained

For the longest time, I could not understand what SCO is suing anyone for: Am I the only one who does not understand what is happening? Well, thanks to Mark F. Radcliffe, in his posting at AlwaysOn, I have a better understanding. Let's hope that Novell can show that they and not SCO own the copyrights to that pesky code.

If you need a score card to tell who is winning, read Radcliffe's summary: it'll help!!

TED2004: The Pursuit of Happiness

If you have five minutes to spare, you must visit this web site (TED) and just listen to the beautiful music created by a very talented young lady. When she started playing, I felt so calm and relaxed. It is incredible how talented some people are in this world. I read about this person's performance in an email. Here is a part of that email.

(email excerpt)

Jennifer Lin is a fourteen-year-old pianist from southern California.
She began her presentation by playing two very difficult classical
pieces; to my untrained ears, she sounded as good as any professional
performer two or three times her age.

It was her third piece that brought the house down. She announced
that she would like to improvise a song... and asked an audience
member to select five notes, at random, from the C scale. She got
the sequence C, G, B, A, E.

Fourteen years old, with a live audience of 800 adults awaiting a
brand new piece of music, based on a theme of five notes just handed
to her. She had ten seconds to prepare.

[You can find the music, slide slow and a world of inspiration by accessing "Magic moments from TED2004".]

-original column

[comments: by the way, doesn't Goldie Hawn look absolutely fabulous??!!!]

(from Mark Hurst@Good Experience.com)

Same Sex Marriages: New Battleground

As I have written earlier, the surrounding debate and struggle over same-sex marriages will be elevated to national debate due to the upcoming presidential election. GW has come out against same-sex marriages and has even gone as far as supporting a constitutional amendment to thwart any further attempts to allow same-sex unions to be considered/viewed/legalised as marriages. With a few more states being added to the new fight/debate, we can expect any future debates between GW and Kerry to have this one issue on the list of 'must-talk about' in front of a national audience. With the US confronting other much more serious issues such as the Iraq Reconstruction, Twin Deficits, Illegal Immigration, Gun Control, and Education, I hope the issue of same-sex marriage does not push aside the other, in my opinion, more important issues.

(CNN.)

03/08/2004

RNC vs. MoveOn.org

It sure is going to be a very interesting run-up to the presidential election this year. Both sides have ensured a very tough campaign. The ads being sponsored by MoveOn.org are all over the internet and if they can not buy time on the major networks, perhaps they will just use other means to spread their message. BTW, the ads aren't that bad.

(CNN.)

03/07/2004

Warren Buffet: Annual Letter to Shareholders

The Sage of Omaha speaks out.

(CNN Money.)

Sun Microsystems: Credit Rating - Junk

Is it time for Scott to step down? In an article written by Dan Lee, SUN should expect some rough roads ahead as S&P has downgraded their crediting rating to 'junk'. Here's the opening paragraph of the article:

In a setback to Sun Microsystems' turnaround plans, Standard & Poor's on Friday downgraded the Santa Clara computer server company's credit rating to ``junk'' status.

(Mercury News.)

03/06/2004

China vows to reduce growth of economy

I was a bit surprised to read this headline on the front page of an English daily here in Japan. In an article written by Joseph Kahn for The New York Times, he writes of the problems of a runaway growth economy within the country is having on the much poorer rural areas. Much of the growth of the Middle Kingdom is located near large urban centres and coastal regions. It should go without saying that like many nations, most of the richer zones of any country are near major waterways. According to the article, some 800 million people live outside cities.

What this means is that there are some 400 million people within China who receive direct benefits from a growing country. I guess it is up to these well-off people to send money and jobs back into the 'hinterlands'. Okay, here are some interesting points to consider now. If the PRC government deems it is necessary to send money, jobs and development to those regions, how much strain will this place on the world's resources? How much more cement, steel and oil will China devour and consume? These 800 million people represent a huge marketplace for any international company seeking to bring its products and services to new segments.

(Joseph Kahn: NY Times)

Japan's Forex Reserves: $777B

Yup. That's $777,000,000,000 of hard cold US bucks that Japan is holding. As everyone knows, the Japanese have been buying the greenback in order to keep the buck above the 110 yen rate. With so much US currency in control of the Japanese government, does this grant it future leverage over its partnership? If not, why not? Everyone keeps on harping on the need for the Japanese manufacturers to operate in an economic world where it can continue to export its wares abroad. Since Japan is still primarily an export-driven economy, the need for a weaker yen or conversely, a stronger yen, one must question the long term effects of such a monetary policy.

(Japan Times.)

strategist

  • Beaujolais_nouveau_race
    photos of me/with friends who have had a great impact on my life. i hope to see some of them again when our paths cross. i wish them all well and hope they always reach for the stars and realise their dreams.

The White Guy

  • File0021
    One of my oldest friends, "White Guy". During my visit to Canada, I made a short stop in Vancouver and "WG" got on his canoe and made the journey from Nanaimo across the dangerous waters separating the "Island" from the continent of decadence. He brought a lovely woman with him - "B". (Side note: I sure hope WG doesn't scream at me for posting his photos online.)

Best Friends

  • With_shannon_at_club_rush_1992
    People who have had the biggest impact on my life. Each snapshot represents a perfect moment in my life. I hope to see all my friends again one day. If given a chance, I would do it all again - no question about it. No hesitations. My life journey has taken me from my hometown of Regina, Canada, to Osaka, to Tokushima, and to Tokyo. Each person and each city has left a mark on my life.

Former Colleagues

  • File0010_3
    Wonderful colleagues always make work go much faster and more enjoyable!

Japan

  • Yoyogi_animation_institute
    my home away from home on the canadian prairies. japan has been my home for the past 12+ years. each new journey is chronicled in my photo album. each picture is worth more than a thousand words. each with its own memory and story to tell.

Memories of Tokushima

  • File0028
    I spent two wonderful years in Tokushima, Japan. The summer months are wonderful as the city puts on a fabulous festival, "The Awa-Odori", (The Awa Dance), that attracts people from all over the country. The motto of the dance is simple: A fool dances, A fool watches, Why not dance with us and be a fool! If you ever get a chance to see and dance at the festival, you should. It is a wonderful time and you will never forget it. The dance festival occurs in the month of August during the O-bon Holiday period; usually in the period of the 13th to the 15th.

Sting: Interview with the Commander

  • Sting
    Interview with Sting to talk about his new album, Sacred Love. The interview was held in Shinjuku, Tokyo on 30 October 2003. Sting is highly articulate and a wonderful person to interview. He is passionate about his music and his work to help make the world a better place for everyone. While the interview was quite short, I felt like I had personally known Commander Sting for years. Why am I referring Sting as 'Commander Sting'? At the beginning I asked Sting how I should address him as he has been awarded the CBE by Queen Elizabeth. He thought 'Commander' would be fine. So as the Commander requested, I addressed him as 'Commander'. (All rights reserved.)

Golden Week 2004

  • Dsc01981
    April 29: Greenery Day I spent the day in Minami Ozawa at an outlet shopping centre. I had a great time running into each store to see what special deals they were offering to some of the thousands of shoppers there. While shopping I could not help but think I was in Honolulu doing some shopping. This is my first outlet mall I have visited since my arrival in Japan. I hope to hit another outlet mall in Yokohama at the weekend.

Celebrations

  • Kn005001
    Enjoying the company of others is very much a celebration that lives in our hearts and minds for eternity. Each party brings together new friends and old friends. So many new memories to share with others.

EBay

  • Dsc01447
    My collection of eBay items and photos. I am an avid collector of Snoopy goods and eBay Live! products. I have full sets of trading cards given out to attendees at the conventions. I was lucky to attend the 2003 convention in Orlando, Florida and got to meet Pierre, Meg and Griff. I had the opportunity of speaking with Meg twice at last year's convention. She is very much a people person who enjoys talking to the regular folk. I have never seen a company CEO spend so much time and effort in talking with people. After seeing first hand how eBay works with its buyers and sellers, I now understand why the company is a leader in the world of e-commerce.

EBay Live! 2003

  • Fh000001
    either you love business travel or you hate it: i love it! Had a chance to meet up with the gang at eBay in Orlando. It was nice meeting Pierre and Meg. Gosh, those two are like 'rock stars' - I sure got caught up in the hype!!!

Dido: life for rent

  • Dido_crew_2
    Dido: life for rent - Performance for special fans, press, Record Label, promoters and others. Wonderful acoustic guitar set held at Tatou Tokyo in Roppongi on 30 October 2003. Dido sang as Vinnie played the acoustic guitar. She sang several songs and told the audience some funny stories. I really like her story about loving to fly. Now, why would anyone love to fly? Dido does some of her song writing on planes. Interesting, don't you think???

roppongi hills

  • Dsc00948
    Roppongi Hills is a very interesting place to visit and work. The Mori Tower is a very practical office building. With many floors with commercial tenants, workers never had to travel far to see a dentist or physician. What I enjoyed the most about working at Roppongi Hills was the 'activity of night life' in the zone no matter what time I left the office building. If you have never been to Roppongi, do try to visit. It is a 24x7 neighbourhood.

China

  • Hong_kong_airport_02
    The face of the Middle Kingdom is changing. I suspect that within the next 10 years, the old China that we know today, will no longer be there in the future. I expect a much more stronger economy with heavy influences spreading from Hong Kong into the mainland. I am not sure what the country will look like in 25 years but, I expect it to become quite western and more open to western influence and ideas. Hopefully, more people will visit the country in a more free world. It has been some 10 years since I last set foot inside of Hong Kong. I never thought I would ever return to the former British Colony in a post-1997 world. I was happy to see the former colony still vibrant and busy. It is like nothing has changed with the 'handover'. Hong Kong Island still looks very much like a bustling place. Visiting Mainland China was an adventure for me. Again, I never thought I would ever set foot in China. Shanghai is a very nice city to visit. I sure wish I had had more time during this most recent business excursion into the Middle Kingdom. Perhaps, on my next trip to the country, I can spend more time looking around and seeing how 'western' and 'open' the country has become.

Global Travels

  • Dscn0979
    Photos taken during my trips abroad. I hope these photos wil help to remind me of how wonderful and different the world truly is. Embrace such differences and always be open to new cultures and new experiences.

Xmas 2003-Tokyo

  • Dsc00905
    Christmas party with dear friends...