16.11.07

Transcontinental Driving Record Claimed to be Broke

Friday , October 19, 2007

By Rick Leventhal

FF

Full disclosure: I like to drive fast. Always have.

I was intrigued and excited to meet and interview Alexander Roy, who, with a co-driver, claims to have broken the unofficial transcontinental driving record, racing from New York City to the Santa Monica Pier in 31 hours and four minutes in a 2000 BMW M5.

The pair are backing up their boast with plenty of documentation, including in-car video, GPS markers, eyewitnesses, and a time card punched in Manhattan and again when they reached the California coast (the time card machine was flown across country and held on the pier by a waiting friend).

I'm not endorsing the feat. I'm not encouraging anyone else to attempt it. It's dangerous and could've been deadly for innocent people along the 2,795 mile route. I do believe Alex when he tells me he did all he could to mitigate the dangers to others, and I believe him when he tells me he lost sleep worrying about it. He says they plotted the course on interstate highways during a stretch of time when traffic would be at a minimum (over the Columbus Day weekend in 2006), and avoided reckless driving that might call attention to themselves, since a single police stop would've likely ended their chance at infamy. Roy says they didn't tailgate, didn't weave, didn't flash lights at other drivers, and avoided passing on the right or at super high speeds.

He's an interesting character who took his pursuit of the record very seriously, enlisting the help of friends to create spreadsheets documenting checkpoints, mileage and time goals, gas station stops and driver rotations. They mapped out the route mile by mile, choosing the roads of least resistance, avoiding tolls, traffic lights, and construction projects. Alex says they only hit four tolls and three or four red lights and three turns the entire way and had only one scare of a possible police stop in Oklahom

He says they averaged 90.1 miles per hour and still managed to get 17.6 mpg, even with the extra weight of a spare 20-gallon gas tank in the rear. They spent most of the trip in sixth gear, avoiding heavy acceleration and aggressive braking, hitting their highest speeds (up to 160 mph) on stretches of empty road in the late night and early morning hours, assisted by night vision cameras with thermal imaging monitors inside to reveal animals, obstacles, officers, even potholes not clearly visible to the naked eye. The car was also equipped with four GPS units (one each for the driver, co-driver and backseat and a backup), police scanners, a CB radio, a radar detector, laser jammers, stabilized binoculars (day and night vision) and an air-to-ground radio to keep in touch with a Cessna overhead, flown by a friend who led Alex and his team across the midwest.

Alex tells me he hopes other people don't try to replicate his feat, not because he doesn't want his record broken, but because he doesn't want anyone to get hurt. The speed demon claims he doesn't speed anymore and won't try to repeat his high-speed journey, although he may race on a track from time to time. He's now spending his time promoting a book he wrote about his life and exploits and record-breaking run. When I asked him about his motivation, he spoke of his late father who dreamed of and attempted to take part in the Cannonball run, and of his own love for the film, but reiterated the physical and emotional tolls of two years of planning and 30-plus hours of wide-eyed high-speed driving.

"I think everybody, at the end of the day, is inspired by Burt Reynolds," he said with a smile. "Because that's funny. Cannonball Run is funny. What we did I think is incredible and maybe fascinating — but I don't think it was funny."

(http://www.foxnews.com)

Democrats to benefit some in U.S. health sector

Fri Nov 16, 2007 5:01pm EST


By Kim Dixon and Lisa Richwine

NEW YORK (Reuters) -

While Republicans vying for the U.S. presidency warn about Democratic plans for a "government takeover of healthcare," many companies in the sector see opportunities should a Democrat win.

Supporting cheaper versions of pricey biologic drugs and helping Americans without health insurance are among the benefits cited by executives this week at the Reuters Health Summit in New York.

The spiraling cost of health care is often named the biggest domestic policy worry in national polls.

Democrats back more expansive measures to boost coverage of the 47 million Americans currently uninsured and support greater us of generic drugs to curb costs.

"What Democrats are very likely to support is a national approach to the uninsured," said David Snow, chief executive at Medco Health Solutions Inc (MHS.N: Quote, Profile, Research). "Net-net for Medco, it's a good thing."

Medco was spun off of drugmaker Merck & Co (MRK.N: Quote, Profile, Research) in 2003 and sells pharmacy services to employers and the government, reaching 60 million people. Demand for its services would likely grow if more people were insured. Rivals include CVS Caremark (CVS.N: Quote, Profile, Research) and Express Scripts (ESRX.O: Quote, Profile, Research)

Executives, including big drugmakers more wary of government involvement, say the pressure to hold down health costs means the government's role is likely to expand under either party.

"Ultimately, I don't think the American public wants to spend more than more than 16 percent of their GDP (gross domestic product) on healthcare," UK's Shire Plc (SHP.L: Quote, Profile, Research) chief executive Matthew Emmens said.

Health care costs were about 16 percent of GDP in 2005, according to government data, but are projected to rise to nearly 20 percent of GDP by 2016.

Of the conventional wisdom that Democrats are worse for healthcare than Republicans, Emmens said: "I don't believe that."

Many pharmaceutical executives worry about pressure on prices coming from employers who provide health insurance and individuals who have seen their co-payments increase.

"Hopefully in the U.S. we'll be able to address that more with market forces and less through government intervention," Roche Holding AG (ROG.VX: Quote, Profile, Research) chief executive Franz Humer said.

One factor driving costs is so-called biologic drugs, man-made versions of human proteins that are more complex to make and often several times more expensive than chemical-based drugs.

Legislation creating a legal pathway to approve cheaper generic versions has stalled in Congress but more Democrats than Republicans back it.

One company that wants to sell generic biologics is Abbott Laboratories' (ABT.N: Quote, Profile, Research) spin-off Hospira Inc (HSP.N: Quote, Profile, Research). Hospira Chief Executive Chris Begley said companies seeking to cut health costs are poised to benefit in the current environment.

"If you can't afford something, does it really add value?" he said, referring to branded drug prices.

Hospital companies struggling with rising levels of unpaid medical bills and are encouraged by proposals to increase insurance coverage.

The "further on the left you get, the more comprehensive their solutions tend to be and the more they care about getting everyone into the system," which would benefit the industry, said hospital chain Tenet Healthcare's (THC.N: Quote, Profile, Research) Chief Executive Trevor Fetter.

HEDGING BETS

Major drugmakers oppose several measures backed by Democrats, such as legalizing cheaper imported prescriptions from Canada and letting the government negotiate drug prices in the federal Medicare health program.

"Historically they have been seen as a little distant from the industry," said Schering-Plough Corp (SGP.N: Quote, Profile, Research) Chief Executive Fred Hassan, adding that individual Democrats have been supportive.

Companies are hedging their bets, with national polls showing Democrats have a shot at the White House and could retain control of both houses of the U.S. Congress.

The sector has significantly boosted the proportion of campaign contributions going to Democrats in the 2008 election cycle, compared with 2006, according to the Center for Responsive Politics.

Individuals and political action committees associated with the health sector have given just over half their contributions thus far to Democrats, about $3.9 million, versus $3.8 million to Republicans, according the group.

That contrasts with the 2006 election cycle, where the sector gave about two-thirds of their contributions, or $13.2 million to Republicans, versus $6.1 million to Democrats.

Smaller biotech companies may be especially vulnerable to effort to hold down drug prices.

"If you don't have a free market mechanism for pricing, it's going to dampen the investment climate, and that is going to hurt the smaller companies more than the big companies," Onyx Pharmaceuticals Inc (ONXX.O: Quote, Profile, Research) chief executive Hollings Renton said.

In the end, the industry's worries are tempered by the belief that Americans will not want to give up the idea of choice -- of pharmaceuticals, doctors or health plans.

"Even the proposals put out by the candidates are moderate," said Schering-Plough's Hassan. "Nobody is saying we are going to do away with employer-sponsored health care."

(Editing by Tim Dobbyn)

(http://www.reuters.com)

15.11.07

Terror crackdown: Passengers forced to answer 53 questions BEFORE they travel

Terror crackdown: Passengers forced to answer 53 questions BEFORE they travel

By JAMES SLACK -
Last updated at 17:37pm on 15th November 2007

Travellers face price hikes and confusion after the Government unveiled plans to take up to 53 pieces of information from anyone entering or leaving Britain.

For every journey, security officials will want credit card details, holiday contact numbers, travel plans, email addresses, car numbers and even any previous missed flights.

The information, taken when a ticket is bought, will be shared among police, customs, immigration and the security services for at least 24 hours before a journey is due to take place.

Anybody about whom the authorities are dubious can be turned away when they arrive at the airport or station with their baggage.

Those with outstanding court fines, such as a speeding penalty, could also be barred from leaving the country, even if they pose no security risk.

The information required under the "e-borders" system was revealed as Gordon Brown announced plans to tighten security at shopping centres, airports and ports.

This could mean additional screening of baggage and passenger searches, with resulting delays for travellers.

The e-borders scheme is expected to cost at least £1.2billion over the next decade.

Travel companies, which will run up a bill of £20million a year compiling the information, will pass on the cost to customers via ticket prices, and the Government is considering introducing its own charge on travellers to recoup costs.

graphic

(http://www.dailymail.co.uk)

14.11.07

Monetary Authorities with the largest foreign reserves in 2007

At the end of 2006, 65.7% of the identified official foreign exchange reserves in the world were held in United States dollars and 25.2% in euros.

Monetary Authorities with the largest foreign reserves in 2007.
Rank Country/Monetary Authority billion USD (end of month)
1 Flag of the People's Republic of China People's Republic of China $1434 (September)
2 Flag of Japan Japan $954 (October)
Flag of Europe Eurozone $483 (September)
3 Flag of Russia Russia $448 (November 2)
4 Flag of India India $267 (November 2)
5 Flag of the Republic of China Republic of China (Taiwan) $266 (October)
6 Flag of South Korea South Korea $257 (September)
7 Flag of Brazil Brazil $173 (November 13)
8 Flag of Singapore Singapore $158 (October)
9 Flag of Hong Kong Hong Kong $142 (October)
10 Flag of Germany Germany $126 (September)
Large reserves are often seen as a strength, as it indicates the backing a currency has. Low or falling reserves may be indicative of an imminent bank run on the currency or default, such as in a currency crisis.

Foreign exchange reserves are important indicators of ability to repay foreign debt and for currency defense, and are used to determine credit ratings of nations, however, other government funds that are counted as liquid assets that can be applied to liabilities in times of crisis include stabilization funds, otherwise known as Sovereign wealth funds. If those were included, Norway and Persian Gulf States would rank higher on these lists, and UAE's $1.3 trillion Abu Dhabi Investment Authority would be second after China. Singapore also has significant government funds including Temasek Holdings and GIC. India is also planning to create its own investment firm from its forex reserves.

(http://en.wikipedia.org)

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