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If you lived on a street where a neighbour frequently and flagrantly broke the law, you would want something done about it, especially if that neighbour took part of your garden, replaced the fence with a 30ft wall, cut down your trees and redirected your water supply.
Suppose the authorities to whom you complained merely denounced the illegalities and took no action? You might think that this situation is inconceivable. But that is precisely what has been happening to the Palestinians for the best part of 60 years.
On July 9, 2004, the International Court of Justice in The Hague (ICJ) produced a strong advisory opinion on the legal consequences of the construction of a wall in the occupied territories.
Fourteen of 15 judges agreed the core findings: that the construction was contrary to international law, both human rights and humanitarian; that it should be dismantled with reparations being made for all damage caused. This was adopted by a UN General Assembly resolution on July 20, 2004.
This resolution, like so many before it concerning violations perpetrated by Israel, was fundamentally ignored. The ICJ had not only specified the obligations owed by Israel under international law but also spelt out very clearly the obligations incumbent on third-party states to ensure that the core values or peremptory norms — such as the right to self-determination — are upheld by those states that break them. This is a matter of common sense and ordinary reason; for, were it to be otherwise, the rule of law and the authority of international justice would be completely undermined.
It was in this context that the Russell Tribunal was reconvened in Barcelona on March 1 to 3 to examine the legal responsibility for violations in the Palestinian Territories. Four more international sessions are planned.
The tribunal has an illustrious history with its origins in the Bertrand Russell Peace Foundation launched in 1963. The first tribunal concerned the war in Vietnam, and led to citizens’ commissions of inquiry held in several American cities. A second tribunal was established to investigate human rights violations in South America in 1974-75.
These are tribunals of conscience, created in response to the demands of citizens in many countries who feel that perpetrators must be held to account and that states cannot be allowed to act with impunity; which is often the result of inaction and complicity by others.
The first session examined the responsibility of the European Union and its member states. The hearings dealt with six topics: self-determination; the annexation of East Jerusalem; settlements and the plundering of natural resources; the EU Israel Association agreement; the Gaza blockade/Operation Cast Lead; and the wall.
Proceedings were opened by Stéphane Hessel, a co-author of the Universal Declaration of Human Rights, followed by 27 witnesses with a range of expertise and experience (lawyers, academics, aid workers, human rights advisers, members of the European and British parliaments and a military adviser).
Israel’s violations are well known and well documented through to the Goldstone report on the invasion of Gaza in early 2009 and were summarised in the tribunal’s report under ten separate headings. The Palestinian Territories determined that a form of apartheid is being practised. The EU and its member states were found to have transgressed the EU Treaty itself as well as international obligations under the UN Charter and the 1966 Covenant on Civil and Political Rights.
The real question, however, is not just inaction but positive action undertaken by Europe that supports the illegality. This can be exemplified by the export of weapons and components; the trade in produce from settlements in the occupied territories and above all the multibillion EU Israel Association agreement that confers benefits on Israel. The EU is the third most important trading partner for Israel and the EU Parliament has passed a resolution requiring the suspension of the association agreement, but like so much else this has not been implemented.
It was obvious to the tribunal, therefore, that the EU may not be prepared to comply with international law. In these circumstances it is necessary for concerned citizens to examine ways in which accountability may be effected. There are a number of legal avenues that can be pursued against individual European governments and their agencies, and individual private companies that maintain the regime of illegality. Additionally Israeli perpetrators of war crimes are susceptible to universal jurisdiction and are liable to be arrested should they travel to Europe.
So far the exercise of this power has not been overwhelmingly embraced by European states; instead it has been left to the endeavours of committed individuals on behalf of the victims and their families in the Palestinian Territories.
BY Michael Mansfield, QC, From Times Online March 11, 201,
The author, a QC, was one of the eight member international jury panel of the RTP. See their full report at www.russelltribunalonpalestine.com
NEW YORK (Fortune) -- Whether it's steel, textiles, or auto manufacturing, Wilbur Ross has built a lucrative career finding gold in industries left for dead.
He did it first at Rothschild, and since 2000 at his own investment fund, WL Ross & Co. To cite just one example, Ross bought bankrupt steelmaker LTV for $325 million in 2002, and sold it for $4.5 billion two years later.
As the economy continues to struggle, Fortune's Katie Benner sat down with the master of distressed investing to hear where prospects can be found in this turbulent time.
Where do you think the biggest opportunities are now?
There are deep value opportunities in insurance stocks, which were beaten down because of their exposure to the subprime crisis, annuities, and commercial real estate. I won't name names, but some well-managed life insurance and fire and casualty companies will come through this stronger. They used to trade at one or two times book value but now trade at three-quarters book.
Regional and subregional banks still have a lot of issues to resolve, and they have enough commercial real estate assets on their books to make most of them insolvent on a mark-to-market basis. Of course, they won't all mark their assets to market and their loans won't all go bad. But another several hundred banks will fail before we get through this cycle. We just bought Bank United in Florida for $925 million, and the FDIC is providing about $4.9 billion in assistance.
I still like TIPS (Treasury inflation-protected securities), and I think a big opportunity is coming in the municipal bond market. Even if it doesn't default, some state or local government will come close enough to scare everyone to death. That will be a wonderful buying opportunity.
And as one of the public-private investment managers for the Treasury, we have been buying lots of residential mortgage-backed securities. The price often more than discounts the problems that are ahead. After another year or so of property value declines I think that market will stabilize along with the securitization market. Securitization is a fundamentally sound idea, even if it was poorly executed.
How can we fix the securitization market?
No one had skin in the game. That's where things went wrong. My proposal then is that everyone has skin in the game. Ratings agencies' fees and compensation should be paid over time and depend on the enduring quality of the rating. Employees at banks and brokerages should have their compensation tied to the long-term success of their products. If a trader is paid a big bonus for a portfolio that turns out to be a disaster a year later, did he really earn the money he was paid?
What about commercial real estate? There are reports that you want to buy the near-bankrupt apartment complex Peter Cooper Village/Stuyvesant Town in New York City.
At some point commercial real estate will become very interesting, but not yet. The declines in value are not over. Stuyvesant Town is an early indicator of what's to come -- it's a poster child for the mistakes made during the boom -- and we are interested in it.
In the original deal for the complex, the financing was predicated on the idea that the apartments would no longer fall under rent control and that they would start generating a lot more cash. That never happened.
There were also 11 tiers of mezzanine debt on the complex, which probably have no value. The debt was distributed into six or so commercial mortgage-backed securities that were sliced up and sold to investors. So there's a huge pile of paper out there that is very affected by this deal. At some point these securities will fall in value enough to be attractive. But at the moment the prices don't reflect the problem environment that we see.
What is the investment opportunity at Stuyvesant Town if you can't significantly raise rents?
Eleven thousand middle-class families live in Stuyvesant Town -- more than in a small town. New York City needs affordable, middle-class housing. If the debt put on the complex is the right size for the amount of cash the complex generates it could be a very good investment.
How do you see 2010?
This is going to be a volatile year. It won't be a year of stock markets, but of the individual stock. Some will do very well, despite the environment.
Government intervention is one. Washington, D.C. is the new Wall Street. No significant financial transaction of any consequence occurs without it. About 90% of all mortgages are granted through Washington.
Health-care reform would mean another 16% of the economy under more government supervision. But there is no evidence that more regulation makes things better. The most highly regulated industry in America is commercial banking, and that didn't save those institutions from making terrible decisions.
The relationship between information and decision-making is a challenge. Everyone gets the same information at basically the same time, so the value of information has gone to zero. And there has not been proportionate growth in the investment community's ability to sort through it all. People spend so much time absorbing that they don't have time to understand what it means. This creates volatility.
For example, people suddenly decide Greece is the problem, and whack, the market is down 10%. If weeks from now people decide California is the problem, markets will move again. Everyone has known for over a year that both places are troubled. Why do we care now? How do we know that the problems of Greece or rescuing that country will make a difference in the economic landscape one way or the other?
That's why the value of expertise and the ability to interpret information will someday go to infinity.
By Chavon Sutton, staff reporterMarch 9, 2010: 3:47 AM ET
NEW YORK (CNNMoney.com) -- The percentage of American workers with virtually no retirement savings grew for the third straight year, according to a survey released Tuesday.
The percentage of workers who said they have less than $10,000 in savings grew to 43% in 2010 from 39% in 2009, according to the Employee Benefit Research Institute's annual Retirement Confidence Survey. That excludes the value of primary homes and defined-benefit pension plans.
Workers who said they had less than $1,000 jumped to 27% from 20% in 2009.
Confidence in ability to save enough for a comfortable retirement hovered at 16% of respondents, the second lowest point in the 20-year history of the survey.
"Americans' attitudes toward retirement have clearly tracked the economy the last couple of years, and that seems to be the case in 2010," said Jack VanDerhei, EBRI's research director and co-author of the survey, in a statement.
A drop in the bucket
The percentage of workers who said they have saved for retirement fell to 69% from 75% in 2009. While VanDerhei attributed the decline in current savings rates to job losses, mortgage problems and the suspension of corporate 401(k) matches in 2009, he said the economy isn't entirely to blame.
"In previous years, there were a whole lot of people who had nothing to begin with," said VanDerhei. The gap between what Americans have saved and what they'd need for retirement is forcing workers to prolong their working years.
According to the survey, 24% of workers said they have postponed their planned retirement age in the past year, up from 14% in 2008.
But even as fears over health care costs and job prospects mount, the survey found that only 46% of workers have tried to calculate what they need for a comfortable standard of living in their golden years.
"People just don't want to think about this," said VanDerhei. "Everybody thinks they're too young to think about it, until suddenly they're too old to do anything about it."
In general, financial planners say that retirement savings, including Social Security benefits and pension, should be large enough to provide about 80% of pre-retirement income.
To reach that target, "most Americans need to be saving within the healthy range of 6% - 10% (of their salary)," said Beth McHugh, vice president of workplace investing for Fidelity Investments.
But the survey found that 54% of the workers with some form of savings said that they have less than $25,000 stowed away.
Delaying retirement, though not ideal, is a good sign that people are finally facing reality.
"People have figured out that they don't have enough money," VanDerhei said. "Still, I'd rather they bite the bullet today, rather than take the chance that they'd have a job when they are 65."
The EBRI surveyed 1,153 U.S. workers and retirees, age 25 and older, in January.
KUALA LUMPUR: Banks have begun raising their base lending rates (BLRs) following Bank Negara’s move to lift the overnight policy rate (OPR) by 25 basis points last week.
Five of the largest banks in the country raised their BLR to 5.8%.
Malayan Banking Bhd (Maybank) and CIMB Bank Bhd were the first two banks to announce their interest rate hike from 5.55%.
The two banks raised their BLR and base financing rates to 5.8% effective today following Bank Negara’s OPR revision last Thursday.
In a statement, Maybank president and CEO Datuk Seri Abdul Wahid Omar said the interest rate revision was based on the recent adjustment in the OPR.
“We expect to see better growth from our core business segments, leveraging on the improving economic environment and as more customers take advantage of the diversity of our product and service offerings,” he added.
Public Bank will also raise its BLR to 5.8% today, according to Bank Negara’s banking info website.
“We are supportive of Bank Negara’s move to normalise interest rates as the economy regains stability and are immediately transmitting it to both savers and borrowers,’’ said CIMB group chief executive Datuk Seri Nazir Razak in a statement.
Nazir said it was the right time to raise interest rates as the economic environment had normalised and growth momentum was strong.
“We saw the fourth quarter gross domestic product (GDP) numbers and we are looking at a GDP growth north of 4% this year potentially,’’ he told reporters at the launch of CIMB Twin Yield Income Investment structured product yesterday.
“Those conditions suggest that it is time to normalise interest rates. As best as I can tell, it is a good decision.’’ CIMB also raised its savings and fixed deposit rates by up to 25 basis points.
The RHB banking group also raised its BLR for RHB Bank Bhd to 5.8% today.
In a statement, group managing director Datuk Tajuddin Atan said RHB would be balancing the increased borrowing rates by offering more competitive rates for depositors.
Hong Leong Bank Bhd will increase its BLR to 5.8% effective March 10.
Bank Negara raised the OPR as the economy has improved significantly and returned to its path to recovery. “Given this improved economic outlook, the Monetary Policy Committee (MPC) decided to adjust the OPR towards normalising monetary conditions and preventing the risk of financial imbalances that could undermine the economic recovery process,’’ said Bank Negara in its monetary policy statement last week.
“At the new level of the OPR, the stance of monetary policy continues to remain accommodative and supportive of economic growth.”
A rise in interest rates is usually greeted with trepidation as economists typically worry about its impact on growth and demand.
This time around, that apprehension is not yet visible.
“At the moment the impact will not be great as it is coming off historic lows,’’ said AmResearch economist Manokaran Mottain.
The Association of Banks Malaysia said the increase in OPR would not impede access to financing nor affect the industry’s lending activities.
The banking industry recorded a loans growth of 8.6% in January and 7.8% in December.
Analysts said the impact the BLR increase would have on bank’s profits would depend on whether deposit rates would be raised by the same quantum.
They said bank margins were squeezed when interest rates were cut but they expected net interest margins to widen as interest rates rose.
By Jeremy Hsu, TechNewsDaily Contributor. posted: 08 March 2010 05:25 pm ET
China supplies most of the rare earth minerals found in technologies such as hybrid cars, wind turbines, computer hard drives and cell phones, but the U.S. has its own largely untapped reserves that could safeguard future tech innovation.
Those reserves include deposits of both "light" and "heavy" rare earths — families of minerals that help make everything from TV displays to magnets in hybrid electric motors. A company called U.S. Rare Earths holds the only known U.S. deposit of heavy rare earths with a concentration worth mining, according to a recent report by the U.S. Geological Survey (USGS).
Light rare earths include the minerals ranging from lanthanum to gadolinium on the periodic table of elements, while heavy rare earths range from terbium to lutetium.
Averting disaster If developed, such deposits could help the U.S. avoid a possibly crippling rare earth shortage in the next decade. China has warned that its own industrial demands could compel it to stop exporting rare earths within the next five or 10 years.
"There is already a shortage, because there are companies that already can't get enough material," said Jim Hedrick, a former USGS rare earth specialist who recently retired. "No one's trying to expand their use of rare earths because they know there's not more available."
U.S. Rare Earths practically stumbled upon its first rare earth deposit at Lehmi Pass, on the border between Idaho and Montana, about 15 years ago. The company founders coveted the area's reserves of thorium — an alternative nuclear fuel — and took little interest in the rare earths that were only used, at the time, in lighter flints and tracer bullets for the military.
Their view changed over the years as rare earths became practically irreplaceable in high-tech products used by millions of people today. The company only recently changed its name to U.S. Rare Earths after staking out another deposit at Diamond Creek, Idaho.
"The fact is, the Diamond Creek property is today, the most accessible, undeveloped rare earth resource with significant [heavy rare earths] that there is in North America," said Jack Lifton, an independent consultant who works with U.S. Rare Earths.
Recent USGS figures estimate that the U.S. holds rare earth ore reserves of up to 13 million metric tons. By contrast, the entire world produced just 124,000 metric tons in 2009 — but it would take both time and money for the U.S. to become self-sufficient in producing rare earths.
Deposits near civilization The Diamond Creek location has the added advantages of being in mining-friendly Idaho and having access to nearby highways and power lines — factors that would make opening a mine much easier. "We have power, light and roads, so we're not in the middle of the wilderness," said Ed Cowle, CEO of U.S. Rare Earths.
Cowle hopes to attract enough funding over the next six months to do some exploratory drilling at his company's deposits. He also pointed to growing interest from national legislators in prodding the federal government to take action.
"Many times opening a mine takes a certain period of time, but if there's a strategic need for material from government, that time period can be lessened," Cowle told TechNewsDaily. "We're hopeful of that because of the nature of what's in the ground."
An expensive proposition Another company, Molycorp Minerals, has already begun processing "light" rare earths, such as lanthanum and neodymium, from a stockpile it accumulated at its mine in Mountain Pass, California. But it still has to ship its rare earths to China for final processing, because only China currently has the equipment needed for the job.
"No one [in the U.S.] wants to be first to jump into the market because of the cost of building a separation plant," Hedrick explained. The former USGS specialist said that such a plant requires thousands of stainless steel tanks holding different chemical solutions to separate out all the individual rare earths.
The upfront costs seem daunting. Hedrick estimated that opening just one mine and building a new separation plant might cost anywhere from $500 million to $1 billion and would require a minimum of eight years.
Lifton has also suggested that many U.S. companies have not jumped into the market because China's state-owned mines keep rare earth prices artificially low. But if U.S. companies do not begin mining American rare earth deposits soon, they may be left scrambling if China does one day stop exporting rare earths.
But Cowle, the CEO of U.S. Rare Earths, seems hopeful that momentum has already begun building for the U.S. government to encourage development of its own rare earth deposits.
"From what I see, security of supply is going to be more important than the prices," Cowle said.
Some of IBM's Power7 machines have been shipping for several weeks, and the high-end Power 770 and 780 boxes start shipping this coming week. Now, the sales pitching and smooth talking by IBM and its local business partners will begin. What, exactly, will that sales pitch be?
That all depends on what gear you have installed, how old it is, who made it, and what applications it runs. One thing is for sure: IBM is trying to get out in front of a whole lot of upcoming server iron to show some good numbers.
Business partners make their own pitches to their customers, of course, but they take their cues from IBM. And as you well know since even before the Power Systems division was created from the merger of the formerly independent System i and System p divisions, IBM is keen on dividing and conquering the server market and bringing as many workloads as it can to the Power7 lineup.
This chart, culled from a presentation IBM gave to partners a few days ahead of the launch of the Power7 machines, succinctly sums up how Big Blue wants to push its Power7 boxes this year:
First and foremost, IBM wants to remind everyone that it has dominant Unix market share (in terms of revenues) and that compared to its $5bn in sales, Hewlett-Packard and Oracle (now that it has assumed control of Sun Microsystems) have a combined $8bn in sales, split about evenly between the two. IBM was able to make $600m in sales (presumably including software and services as well as hardware) last year on HP and Sun takeouts, and it wants to accelerate these. If a Power Systems migration is not in the cards, IBM is perfectly happy to bolster its share of the $30bn X64 server space by moving HP-UX and Solaris workloads to Linux on X64 iron.
While the chart doesn't say this, there is also some migration to Windows going on here and there. IBM also wants to go into HP, Dell, and Fujitsu shops using X64 iron and consolidate multiple workloads onto Power-based servers. This is a familiar plan, and one that IBM's AS/400 faithful have seen since PC-based server cards were first slapped into AS/400s back in the early 1990s and that was augmented as logical partitioning debuted back in the late 1990s on the AS/400. (And yes, well ahead of LPAR support for AIX that was worth a damn. But don't expect the Unix-centric Power Systems people to mention that).
As you can see, IBM wants to "minimize leakage" from Power Systems to X64 boxes, and it doesn't have any arrows that would show Power or X64 workloads moving to HP or Oracle Unix iron. Like that never happens. Of course it happens, and there are hundreds of millions of dollars in consolidation at stake there too. Interestingly, there is nothing in this chart that mentions i/OS specifically and that says there is a goal to accelerate migrations from X64 iron to Power-i/OS combinations or to minimize leakage of i/OS workloads to X64 iron. But there should be, and hopefully, there is even though the presenters briefing business partners did not get into the i/OS strategy.
AMD and Intel on the way
There are a whole lot of new chips coming down the pike from Intel and Advanced Micro Devices, and if IBM had waited until May for the initial Power7 launch, it would not be able to get business partners psyched up with a chart like this:
This chart compares the performance of various servers on SAP's two-tier Sales & Distribution (SD) ERP benchmark test. A four-socket Opteron 8400 box using the latest six-core chips does about the same amount of work as an Oracle/Sun T5440 server (also four sockets) using the eight-core Sparc T2+ processors. With 15,600 SD users supported, the four-socket, 32-core Power 750 server was able to do more than three times the work. (That machine is configured with AIX 6.1 and DB2 9.7 and uses the 3.55 GHz Power7 cores with all the threads turned on).
Both AMD and Oracle/Sun are on track to more or less double the performance of these machines by the middle of this year, and interestingly, AMD is not planning on offering an eight-socket version of the future 12-core "Magny-Cours" Opteron 6000 systems, and Sun will not push beyond four cores with the Sparc T3s later this year, either. So the Power 750 will likely have a sustainable advantage here in terms of performance.
It is unclear how HP Integrity machines (what IBM still calls Superdomes in its presentations) using the new quad-core Itanium 9300s (formerly known as "Tukwila") will perform on the SAP SD benchmark, but HP did test what I presume was an I/O and memory constrained BL860c Itanium 9140M blade (with two 1.66 GHz cores in each of its two sockets) and was able to support 1,165 SD users on the same test running HP-UX 11i v3 and Oracle 10g, but this machine had average response times of just under two seconds (the norm back then) instead of sub-second (which is the norm now).
A 32-processor, 64-core Fujitsu PrimeQuest 580A server tested in April 2008 was able to handle 10,400 SD users, but with a nearly two-second response time. The Tukwila processors and their new memory architecture, based on the QuickPath Interconnect, are going to have to do a whole lot better to compete. And if they cannot compete on performance, they are going to have to make it up with price/performance. Ditto for the Sparc T3s and any servers from Oracle or Fujitsu supporting Solaris on quad-core Sparc64-VII chips.
Claims to fame
As all vendors accentuate the positive, IBM is throwing around a lot of claims. For instance, business partners are being told that a single Power 740 with four sockets can replace 92 Sparc T2000 servers, cutting back the number of cores by 95 per cent, the square footage of floor space by 97 per cent, and the energy used by 95 per cent. IBM also has another slide that uses the SPECint_rate2006 benchmark to "prove" a Power 750 with four-sockets (32 cores) can do 29 per cent more work than an Integrity Superdome with 64 1.6 GHz cores, but it burns only 1,950 watts instead of 11,586.
If you read the fine print, these are not the wattages of the systems as they are running the test, but the maximum power usage for data center site planning, which as far as I am concerned is playing it a bit loose. But the SPEC tests don't all track power consumption, and if you were trying to get a feeling for performance per watt, you would have to do exactly what IBM did.
The Power 750 apparently smokes four-socket Sparc, X64, and Itanium systems in terms of performance and performance per watt on the SPECint_rate2006 test. With a SPECint_rate2006 of 1,060, that smoked a Sparc M4000 server with 2.52 GHz Sparc64-VII chips (152 rating with 2,350 watts), a Sparc T5440 with 1.6 GHz Sparc T2+ chips (360 rating with 2,700 watts), an HP rx6600 with Itanium2 chips (102 rating with 1,600 watts), and an HP ProLiant DL580 G5 using older six-core Xeon 7400 chips (291 rating with 1,412 watts).
A two-socket Xeon 5500 box can do almost as much work (254 rating using the 2.93 GHz Xeon X5570, and a Westmere-EP kicker will probably be on the order of a 380 rating on the test). HP has four-socket Opteron boxes rated at nearly 400 on the SPECint_rate2006 test, but IBM didn't bring this up. And HP will be pushing up to around 800 or so with the Magny-Cours later this quarter. That Magny-Cours box will have 48 cores and no threading compared to the Power 750 with 32 cores. IBM will still be able to show more oomph per core on this test, but AMD and its partners are going to cram more cores into the box.
The other thing we noticed in the sales pitch is that IBM is assuming that a replaced machine has lower utilization (but is running at maximum electrical consumption) and that when you consolidate onto a Power7 box, you can run it at higher utilization and thereby save big bucks. Obviously, many i/OS, AIX, HP-UX, and Solaris shops are running at high utilization, so the savings IBM shows may not materialize. But just to show you one example so you can be careful of this.
In one presentation, IBM says that a Power 780 can consolidate nine 64-core Integrity (well, it said Superdome) boxes into a single Power 780 and save 91 per cent on floor space and cut the number of cores by 88 per cent. Those nine HP Integrity boxes have 576 cores running at 1.6 GHz, but IBM's comparison assumes that they are only running at 25 per cent utilization (you gotta read the fine print), while the single Power 780 with its 64 cores running at 3.8 GHz (a full rack, taking up only 7.6 square feet of floor space) hum along at 75 per cent utilization.
While IBM is offering three times the performance per core compared to the dual-core Itanium 9000/9100 series, the utilization levels it set in the comparison account for another factor of three in compression. If you assume the machines are running at the same utilization (which they would be on a test like SPECint_rate2006), then IBM has only a factor of three compression, and if you go with the full-out 128-core HP Integrity box, then the Power 780 has only a 54 per cent performance advantage if you look at the actual SPEC tests. And by the way, a Sparc Enterprise M9000, rated at 2,586 on this SPEC test, beats the 780, although by IBM's reading of the Oracle/Sun manuals it burns seven times the juice at maximum loading.
Here's another comparison IBM cooked up, which kills the ProLiant and Integrity birds with one comparison stone:
These comparisons above are based on the SPECint_rate2006 test as well, which seems to be IBM's favorite with the Power7 launch. And the CPU utilization on the unvirtualized ProLiant boxes is assumed to be low (19 per cent according to the fine print at the back of the presentation) and is at 60 per cent on the Power 750.
Ultimately, what customers need to look at to do comparisons is raw data on the systems themselves, then they need to examine benchmarks and other performance data, gather up pricing information, and finally try to weave together a picture that has more depth and breadth than the IBM sales pitch. ®
I am, by nature, a happy person. And I am glad that scientists have now confirmed I am on the upward trend and will not become a grumpy old man as predicted.
German and American scientists, analysing a long-term British survey of more than 21,000 men and women, have come to the conclusion that happiness starts to dip in the teenage years and continues on a downward spiral until the age of 40.
It then levels off until about 46, before rising to a peak more than 30 years later.
The age when one is most content is 74. According to the study, as reported in The Daily Mail, a combination of fewer responsibilities and financial worries, and having more time to yourself, produces a contentment unknown earlier in life.
I wonder if the majority of those above 46, who are salaried workers, will agree with the findings. Those of us in this age group, including yours truly, are probably at middle or senior management levels at this point of our career.
In return for a higher remuneration, with a company car and other benefits thrown in perhaps, we find that our responsibilities are also on an upward trend.
We are confronted with new challenges that test our patience and this is compounded by the fact that the home front is just as challenging around this time.
At times, you wonder if it might be better if you had been bypassed for the promotion.
So, how do we stay happy? I believe if we treat happiness as a state of emotion, that would be impossible. But the joy that comes from within is something that we can all aspire to attain. The secret is not to be a rat in the rat race.
I have seen people in the workplace who are able to deal with the ever-changing circumstances simply by adopting the right attitude.
They are not necessarily those who believe they should not rock the boat at all, but are the ones wise enough to choose the right battles to fight.
Often, they understand that people matter more than things, and are thus able to be a catalyst for change that will be embraced by all.
Then there are the people who are stuck in a routine each day, but always ready to greet others with a smile each morning.
How often we take for granted the cleaners who keep our office and our toilets spick and span. Or the guards who keep us safe and escort us to the basement parking lots in the middle of the night. If you look closer, you will find that they are a happy and contented lot.
So, if you are starting your working week by reading Monday Starters, tell yourself that you can choose to be happy, simply by thoughtful words and actions, and let that happiness rub off on your colleagues. Not that tough, right?
By Soo Ewe Jin, Deputy executive editor believes in the serenity prayer: “God grant me the serenity to accept the things I cannot change; courage to change the things I can; and wisdom to know the difference.”
