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The Economist: The Long-Term Outlook for the Texas Economy
The author of this entry is responsible for this content, which is not edited by the Wilson County News or wilsoncountynews.com.
Dr. M. Ray Perryman
July 11, 2012
2852 views
3 comments
Texas is forecast to continue to outperform the nation through the long-term horizon. The Lone Star State fared much better than most of the United States during the recession, and currently faces lesser problems in term of unemployment and housing market conditions. Recently, the state's economy has continued to improve and unemployment rates have decreased, although they remain undesirably high in a few parts of the state.
A long-term economic forecasting perspective requires a slightly different focus, with emphasis on factors which are more fundamental to growth such as demographics, education, and the changing industrial base. Texas is facing substantial challenges in some of these areas, while others are improving the state's outlook.
The Texas housing market avoided the worst of the national downturn, and many areas are now approaching sales at levels historically supported by population expansion. Foreclosures are down and permits are increasing. Inventories of homes for sale are also falling. Another source of strength is oil and gas exploration and development. Rig counts have been trending well over 900, with activity in both long-established fields (such as those in the Permian Basin) and more recent finds (such as the Eagle Ford Shale in South Texas). Technological improvements have both increased total recoverable amounts and enhanced economies.
Most of the current growth in production of natural gas has come from shale formations such as the Barnett Shale in the Metroplex area and the Eagle Ford Shale (which also has substantial oil reserves). These fields are emerging as a crucial component of the nation's natural gas supply, and estimates of the total potential US supply from shale sources is rising rapidly as new fields are discovered and explored. While low gas prices are limiting new drilling at the moment, market patterns will change over the long-term horizon. Drilling for oil remains strong.
For the areas in close proximity to fields, the economic stimulus is particularly strong. Exploration and production involve huge capital investments, thousands of jobs, and millions in royalty payments. Although the Texas economy has diversified to the point where it is less tied to energy than in the past, oil and gas related activity will remain a notable source of economic stimulus for the foreseeable future.
Recent locations and expansions are also working to position Texas for future growth. A number of sizable investments in the state have substantial potential for synergistic development. The Caterpillar manufacturing facility in Victoria, technology firms such as Apple in Austin and the Metroplex, and many others will generate opportunities in the decades to come.
In spite of the good economic news for Texas, there remain substantial obstacles to continued success. Global and national issues can curtail the state's future performance. The debt crisis in Europe (and elsewhere), the "fiscal cliff" the United States is facing, and other sources of uncertainty pose threats to Texas' expansion.
The State budget situation is another cause for concern. Insufficient investment in needed infrastructure could stifle future expansion, as problems such as traffic congestion decrease the state's competitiveness for attracting corporate locations. The fundamental imbalances in State revenues and expenses must be addressed in a meaningful way or prosperity will ultimately be threatened. Another major challenge for the Lone Star State is educational attainment, but that's a topic for another day.
Balancing the strengths and challenges, The Perryman Group's latest forecast calls for reasonable expansion through the long-term forecast horizon. Compound annual growth in output (real gross product) during the 2011-2040 timeframe is expected to be 3.3%, which translates to expansion of more than $1.8 trillion. The information, durable manufacturing, and services sectors are projected to exceed a 3.9% compound annual rate of growth in output over the period.
Employment is forecast to increase at a 1.59% compound annual rate, with total gains of almost 6.4 million jobs. Sectors expected to see the largest numbers of new positions over the next three decades include services (projected to add some 3.9 million net new jobs) and wholesale and retail trade (up almost 876,000). The information sector is likely to see compound annual employment growth of more than 1.6%, while several others expand at a rate greater than 1.0%.
In conclusion, the Texas economy continues to recover from the recent recession, with notable job gains and improvement in the housing market. There are also positive trends at work, such as resurgence in traditional sources of business activity and major locations in emerging industries. At the same time, the Lone Star State must deal with key infrastructure and education issues or future economic performance will be jeopardized.
The Perryman Group's forecast calls for growth over an extended time horizon, though business cycles are inevitable. The state remains well positioned compared to most areas, and has the potential to see even better performance with meaningful solutions to fiscal and other issues.
Dr. M. Ray Perryman is President and Chief Executive Officer of The Perryman Group (
). He also serves as Institute Distinguished Professor of Economic Theory and Method at the International Institute for Advanced Studies.
Next Blog Entry (July 11, 2012) »
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Your Opinions and Comments
4 th Generation Texan
Sutherland Springs
July 17, 2012 7:56am
Report Abuse
"matilde"...that's a fine idea EXCEPT, South Texas would no longer have access to 40% of the oil refining capacity in Houston, Beaumont, Port Arthur. South ...
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"matilde"...that's a fine idea EXCEPT, South Texas would no longer have access to 40% of the oil refining capacity in Houston, Beaumont, Port Arthur. South Texas would no longer have access rail and highway to the largest user of petroleum products. South Texas would no longer have easy access to Universities that teach petroleum engineering. South Texas would no longer be able to easily get to areas where relatives are located. For generations, South Texas has been a drag on Texas as a whole. The State has had to spend a lot more in development, job training in South Texas than any other region.....get the drift? I suspect if Texas were divided into 4 regions, South Texas would come in in last place in just about any category you can name except for poverty. Without north and east Texas you would be without most of the petroleum industry, the world's 2nd largest seaport, the Largest Medical Center in the World, at least 2 major financial centers, NASA, all the major sports teams, headquarters to about 75 of the largest companies in the USA, 2 of the largest airports in the USA, most of the good high school football players, most of the highly regarded school districts, and on and on and on . Now, if you want to talk of Texas seceding from the USA, then I'm with you on that.
matilde serna
July 17, 2012 4:04am
Report Abuse
Texas is best, south texas need to secede from north texas and east texas. This is real
Texas. Os this allow in constitution? Make texas 3 states or a country and two states. ...
Read More
Texas is best, south texas need to secede from north texas and east texas. This is real
Texas. Os this allow in constitution? Make texas 3 states or a country and two states. Good ideas.
Elaine K.
July 11, 2012 11:48am
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Texas Elected Officials Urge Boy Scouts To...
(February 7, 2013)
V-Day for women and girls
(February 7, 2013)
Improving the Texas electricity market?
(February 6, 2013)
The President's Energy Policy Hypocrisy
(February 6, 2013)
January 2013
(January 31, 2013)
Affordable Care Act not so affordable
(January 31, 2013)
Letter of termination to the Second Amendment
(January 31, 2013)
The Economist: Immigration Reform
(January 31, 2013)
The Ominous U.S. Presence in Northwest Africa
(January 31, 2013)
'All Life is Not Equal'
(January 28, 2013)
The Economist: Big Business
(January 23, 2013)
Obama�s Medical Devices Tax � It May Be Harmful...
(January 16, 2013)
Pastor Giglio and the new moral McCarthyism
(January 16, 2013)
Exporting Natural Gas Would Boost the American...
(January 15, 2013)
The Hagel Brouhaha
(January 11, 2013)
The Economist: Texas� Budget Surplus
(January 10, 2013)
What the Fiscal Cliff Deal Tells Us About Congress
(January 9, 2013)
From the DNC Re: Tax Code
(January 5, 2013)
Government shut-down may be neded for long-term...
(January 4, 2013)
Banning Natural Gas Exports: Economic Illiteracy...
(January 3, 2013)
Fleeing Socialism: French Actor G�rard Depardieu...
(January 3, 2013)
The Economist: Stepping back from the 'cliff'
(January 3, 2013)
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With the dawning of the 21st century, a new awakening has emerged within people seeking to live a healthier lifestyle and improve the quality of their lives. iSatori was founded in 2001 by Stephen Adelé and a handful of dedicated, passionate associates who have since focused their efforts on providing customers with highly unique, innovative, and evidence-based dietary supplement solutions. Today, iSatori is satisfying the world's desire to feel and look better with branded life-enhancement products, nutrition and exercise plans, and ongoing customer support. iSatori was founded on the guiding principle of truth, science, and providing solutions, above merely selling supplements. All of their interactions demonstrate their respect for their customers, their employee associates, retail partners, suppliers, and community agencies.
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Featured Story
U.S. Stock Market Today Nails In Another Rally
Stock market today, Feb. 7: Today (Friday), U.S. stocks closed in positive territory for a second consecutive session after the January jobs report revealed a declining unemployment rate.
The Dow Jones Industrial Average closed up 1.06%, or 165.55 points at 15,794.08 points; the S&P 500 closed up 1.33%%, or 23.6 points at 1,797.02, and the Nasdaq Composite Index closed up 1.68%, or 68.7 points at 4,125.86.
To continue reading, please click here...
stock market ticker today
Finding a Sea of Calm in the Rising Market Mania
The markets have begun to swoon and one of the canaries was two Thai tycoons.
This pair of Thai tycoons, neither of them well-known internationally, has made a total of $27 billion in acquisitions in the past year, more than all Thai companies spent abroad in the preceding three years.
To continue reading, please click here…Read More...
Stock Market Today Reflects Strong Reliance on FOMC Meeting
The stock market today opened on an optimistic note as worries abate about the Fed indicating an end to quantitative easing after this week's Federal Open Market Committee (FOMC) meeting.
Shortly after the opening bell, the Dow Jones Industrial Average surged 172.02, or 1.14%, at 15,242.20. The Standard & Poor's 500 Index soared 16.43, or 1.01%, at 1,643.16. The Nasdaq jumped 40.11, or 1.17%, at 3,463.67.
To continue reading, please click here…Read More...
Stock Market Today: Is the End of the Winning Streak the Start of Something Big?
All good things must come to an end...
A winning investment strategy since the start of the year has been to buy the dips. But that tactic may be changing in the stock market today.
In another rollercoaster session on Wednesday, U.S. equities fell as investors prolonged a recent selloff spurred by the unwinding of bullish bets.
To continue reading, please click here...Read More...
Stock Market Today: Will a Bad Earnings Season Spoil This Year's Gains?
Coming off the worst week of the year, market participants have a cautious stance in the stock market today as earnings season kicks off - and will likely disappoint.
The Dow fell 13.29 points, or 0.09%, to 14,565.25 last week. The S&P shed 15.91, or 1.01%, to end the week at 1,553.28.
Monday, guarded investors kept a wary eye on developments in Eurozone, nuclear tensions in the Korean Peninsula, and Alcoa Inc.'s (NYSE: AA) earnings after the bell-the unofficial kick-off to Q1 earnings reports.
Red flags are waving that companies will report a slowdown in corporate profits. A number of companies have delivered lower guidance, with pre-earnings announcements sloped to the negative side. Companies in the S&P are expected to increase Q1 earnings a measly 1.5% over last year, according to Thomson Reuters.
Weak earnings could push any nervous investors to take gains and bail on markets for a while.
"Right now, projections for earnings in 2013 and the market are based on optimistic assumption," Howard Silverblatt, senior index analyst with S&P Dow Jones Indices told Barron's. "We can meet estimates if things move in the right direction. But the economy does not go straight up or down. There are bumps up or down. There are bumps in the road. And investors rarely get everything they need or want."
Here are some upcoming earnings reports to watch, as well as two of the biggest deals moving stocks this week.
To continue reading, please click here…Read More...
Stock Market Today is Up, But is a Pullback on the Way?
A handful of economic data helped the stock market today (Tuesday) resume a robust rally - but are we due for a pullback?
The Dow Jones Industrial Average closed up 111.90 points, or 0.77%, at 14,559.65. The Standard & Poor's 500 Index jumped 12.08 points, or 0.78%, to 1,563.77 - just a couple points from its record high. The Nasdaq climbed 17.18 points, or 0.53%, to close at 3,252.48.
The broad-based stock market rally followed a sell-off Monday, which took the Dow down 64.28 points, or 0.4%, to close at 14,447.75. The S&P and Nasdaq both fell 0.3% as investors mulled a bailout deal for Cyprus.
But the old adage that investors have a very short memory rang true Tuesday. Shrugging off yesterday's woes, market participants instead focused on encouraging U.S. economic data.
Buoying stocks Tuesday was a Commerce Department report that showed durable goods orders surged 5.7% in February. That handily beat economists' expectations of a 0.5% rise and reversed January's 3.8% plunge.
A separate report Tuesday revealed single-family home prices began 2013 with the biggest annual increase in six-and-a-half years. The S&P/Case Shiller composite index report is a further sign of a recovery in the housing market.
But the big question is if the rally will last.
To continue reading, please click here…Read More...
Stock Market Today: Why Stocks Slipped After Seven-Day Rally
After a seven-day rally that produced consecutive record highs for the Dow Jones Industrial Average, the stock market today (Tuesday) took a breather.
In early afternoon trading, the Dow Jones Industrial Average was down 16.66 or .12% at 14,430.63. The Standard & Poor's 500 Index was off 4.94, or .32% at 1,551.37. The Nasdaq was lower by 16.30, or .50% at 3,236.
"We've just been going up and up and up every day, and now a slight pullback. There is nothing surprising here, by any stretch of the imagination-it's natural to get a little pullback like this," Sean Kelly, managing director at Knight Capital told The Wall Street Journal.
Market participants continue to closely watch the S&P 500 Index. The broad-based market benchmark is close to its all-time closing high of 1,565.15 hit on Oct. 9, 2007.
But investors may be getting a bit concerned about the recent bull run. After falling to a six-year low on Monday, the VIX (the market's fear index), rose 7.8% Tuesday.
Also, the current bull market is aging. It turned 4 on Saturday. Only five of the past 11 bull markets have made it to their fifth birthday, according to data from S&P Capital. The average bull market since 1932 has endured for roughly four-and-a-half years.
Not helping stocks Tuesday was a read from the National Federation of Independent Business. While the report showed its small business optimism index rose in February, exceeding expectations, the federation's reading on expected business conditions remained in deep recession territory. Moreover, business owners reporting declining sales far surpassed those reporting increased sales.
To continue reading, please click here…Read More...
Stock Market Today: Apple, Bernanke, Durable Goods in Focus
The stock market today (Wednesday) opened modestly higher before staging a strong rally by mid-day.
Shortly after noon, the Dow Jones Industrial Average had jumped 133 points, or .96%, to 14,033, putting it within reach of its all-time high of 14,164, set in 2007. The Standard & Poor's 500 Index added 15.71, or 1.05%, to 1,512; and the tech-heavy Nasdaq climbed 35.18, or 1.09%, to 3,163.
Federal Reserve Chairman Ben Bernanke remains in the spotlight today. The Fed chief continues to defend the central bank's easy-money policies in his second day of testimony before Congress.
Also garnering attention was the Commerce Department's report that showed a 5.2% drop in orders for durable goods - products designed to last at least three years. The decline, steeper than the 3.5% decline economists had expected, came after strong gains in the previous month.
The slump shows the impact from reduced spending, ahead of sequestration, that has already taken hold.
With defense contractors feeling the effects of impending automatic spending cuts, defense capital goods orders plunged 69.5% in January, marking the steepest drop in more than a decade.
Also falling was demand for civilian aircraft, which plummeted 34%. The steep drop in this volatile category was attributed to a decline in orders at The Boeing Co. (NYSE: BA) due to battery problems in its Dreamliner 787.
The stock market today got a boost from the National Association of Realtors monthly index report of pending sales of existing U.S. homes - up 4.5% in January from the previous month, handily beating the 1.5% analysts had projected.
And providing a cushion, if not a catalyst, to markets, was an announcement from Fitch Ratings. The firm said that while sequester and a U.S. government shutdown would "erode confidence," it wouldn't prompt a downgrade of the nation's AAA credit rating.
To continue reading, please click here…Read More...
Stock Market Today: Finally Some Gains After Two-Day Slump
After two days of losses, the stock market today (Friday) reversed the slide and opened higher, thanks to better-than-expected earnings from Hewlett-Packard Co. (NYSE: HPQ) and American International Group Inc. (NYSE: AIG)
Shortly before 1 p.m. on Wall Street, the Dow Jones Industrial Average was up 114 points to 13,994.62, the Standard & Poor's 500 Index added 10.6 to 1,513.02 and the Nasdaq advanced 25 to 3,156.34.
While all three indexes are on track for their worst week of the year, the Dow is still up some 6% since the start of 2013, the S&P 500 has gained 5% and the Nasdaq has tacked on almost 4% despite giving back all of February's gains during the two-day selloff.
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Stock Market Today: Why a Pullback Isn't the Real End of a Rally
The stock market today (Monday) took a breather after a robust rally last week that left the Dow Jones Industrial Average just 155 points from its all-time high of 14,165.
In early afternoon trading Monday, the Dow gave back 125 points, the Standard & Poor's 500 Index shed 14, and the Nasdaq lost 38.
The pullback came on the heels of strong gains in January in which the Dow added 5.9%, marking the index's best performance for the first month of a year since 1994.
Most analysts remain bullish and aren't worried by Monday's declines, saying stocks were due for a temporary retraction and some profit-taking was in order.
"We should get a pullback. Markets have been on a tear and they have been on a tear for good, sound economic and earnings-driven reasons," Peter Kenny, managing director at Knight Capital in Jersey City, NJ told Reuters.
To continue reading, please click here...Read More...
Stock Market Today: This Stock Wins With or Without QE3
The major headlines in the stock market today include the Fed's decision to implement QE3, increased producer prices, and higher jobless claims.
- QE3 a 99% certainty?... Not quite- When the Federal Open Market Committee makes its statement at 12:30 p.m. EDT every investor will be waiting to hear if QE3 has finally arrived. After what seems like two years of speculation since QE2 was announced will we finally get QE3? According to Citigroup Inc. (NYSE: C) a gauge of indicators of market expectations for additional central bank stimulus rose to a record 99% in August. Yet many economists do not expect QE3 to be announced today for many reasons. If the Fed takes action it will be viewed as highly political coming just months before Election 2012. Even if the Fed announces QE3 but says it will delay QE3 purchases until after the election as it did with QE2, the political implications will still be there. Other reasons are the lack of progress the previous rounds of QE have had in turning around the economy - and not just the stock market. "The Fed continues to want the economy to grow faster and specifically, to grow more jobs, but the ability of QE to do that is extraordinarily limited," Catherine Mann, a finance professor at Brandeis and former Federal Reserve economist told CNN. "We know that QE reduced interest rates, but we also know that has not led to more construction, more mortgages, more business investment, or more lending. Since it hasn't done any of that, it probably hasn't created jobs either."
- Producer prices rise most in three years- Wholesale prices, measured by the producer price index, climbed 1.7% in August - the most since June 2009 - due to higher gasoline and natural gas prices. This was a faster increase than the 0.3% reported in July and ahead of the median forecast for a gain of 1.3%. Food prices rose 0.9% due to a rise in dairy and egg prices. The core producer price index which excludes food and energy rose 0.2%, which was in line with expectations. Tomorrow's consumer price index will be a good indicator if higher wholesale prices have translated into increased consumer prices.
Stock Market Today: This Tech Stock Rallies to All-Time High
The major headlines in the stock market today include Europe's latest rescue effort, cautious optimism on U.S. jobs, and these big-name stocks leading the rally:
- ECB unveils unlimited bond buying plan- European Central Bank (ECB) President Mario Draghi announced in Frankfurt today (Thursday) that the ECB will embark on a drastic new bond-buying plan. The new program, called "Outright Monetary Transactions," allows the ECB to buy bonds with maturities between one and three years without announcing any limits in advance, as long as the government in question is under a program approved by the Eurozone. The plan is aimed at stabilizing interest rates in the euro area and will require countries such as Spain and Italy to request aid from the ECB to activate the bond purchases.
"Under appropriate conditions, we will have a fully effective backstop to avoid destructive scenarios with potentially severe challenges for price stability in the euro area," Draghi said at a press conference. "Governments must stand ready to activate the EFSF/ESM in the bond market when exceptional financial-market circumstances and risks to financial stability exist -- with strict and effective conditionality. The ECB reserves the right to terminate bond purchases if governments don't fulfill their part of the bargain." The ECB held its benchmark rate at its record low level of 0.75%. Draghi announced that the ECB won't claim the status of a senior creditor if the bonds it buys have to be restructured and that the purchases will be "sterilized" meaning there will be no impact on the monetary supply.
- ECB unveils unlimited bond buying plan- European Central Bank (ECB) President Mario Draghi announced in Frankfurt today (Thursday) that the ECB will embark on a drastic new bond-buying plan. The new program, called "Outright Monetary Transactions," allows the ECB to buy bonds with maturities between one and three years without announcing any limits in advance, as long as the government in question is under a program approved by the Eurozone. The plan is aimed at stabilizing interest rates in the euro area and will require countries such as Spain and Italy to request aid from the ECB to activate the bond purchases.
Stock Market Today: Two Big Winners in Another Quiet Day
Here are the main headlines in the stock market today.
- Home prices show strong improvement- The S&P/Case-Shiller National Home Price Index increased for the fifth month in a row as prices in June on a non-seasonally adjusted basis were up 2.3% from the previous year and ahead of expectations for a 2.2% increase. Home prices rose 6.9% in the three months ended June 30 compared to the first three months of 2012. The index, which measures single-family homes and covers more than 80% of the housing market in the United States, continues to back up the belief that the housing market has finally turned a corner. "We seem to be witnessing exactly what we needed for a sustained recovery; monthly increases coupled with improving annual rates of change," said David Blitzer, a spokesman for Standard & Poor's, in a statement. "The market may have finally turned around."
- Consumer confidence falls to nine-month low- As worries over the economy escalate and more Americans are unemployed consumer confidence slipped to its lowest level since last November. In August, consumer confidence, measured by the Conference Board's Confidence Index, fell to 60.6 from 65.4. Economists had hoped the index would rise slightly to 66. The board's future expectations sub-index dropped to 70.7 from 78.4, while the present-conditions index was basically unchanged at 45.
- Mario Draghi to skip Jackson Hole- President of the European Central Bank Mario Draghi was expected to be the keynote speaker Saturday September 1 in the second day of the Jackson Hole, WY Symposium. Draghi will not attend due to his heavy workload regarding the strategy of the ECB's new bond-buying plan. Details regarding the European Stability Mechanism and other measures to improve the Eurozone debt crisis are expected to be announced at the ECB's next meeting Sept. 6.
Stock Market Today: Stocks Edge Higher To End the Week
Here are the major headlines in the stock market today.
- Capital goods orders declines most in 8 months- Orders for core capital goods which excludes transportation and defense dropped 3.4% in July, the biggest decline since November. Capital goods such as computers, engines, and communication equipment are thought to be key indicator of business spending and this drop certainly does not inspire any confidence in the economy. "There's uncertainty domestically about the tax environment, and there's uncertainty globally about the outcome of the European crisis," Millan Mulraine, a senior U.S. strategist at TD Securities in New York told Bloomberg. "This is not engendering business investment and hiring." Economists had expected this category to rise 0.7% after a previously reported 1.7% decline in June.
- Durable goods orders rise- Manufactured goods which are expected to last at least three years, increased 4.3% in July fueled by airline and auto sales. Economists had expected on average a 2.5% increase. Overall orders last month were lifted by a 14.1 % jump in transportation equipment as demand for civilian aircraft surged 53.9%. This was led by Boeing Co. (NSYE: BA) which had a strong performance at the Farnborough Air Show and received orders for 260 aircraft, up from 24 planes in June. Motor vehicle sales increased 12.8%, the largest increase since last July. Yet omitting the transportation sector, orders fell 0.4% and declined for the second month in a row.
To continue reading, please click here... Read More...
Stock Market Today: Poor Labor and Manufacturing Data Sends the Markets South
Here's what's making headlines in the stock market today.
- Jobless claims rise again- A higher number of people filed for their first week of unemployment benefits last week, a sign that the job market is not improving as hoped. For the week ended August 18 372,000 filed for unemployment, up 4,000 from the previous week, the Department of Labor said Thursday. Economists had expected initial claims to be 368,000. As of the July jobs report, 12.8 million people were counted as unemployed and about 5.59 million people received some kind of state or federal benefit in the week ended Aug. 4. "Jobless claims continue to indicate ... a sluggish labor market," Peter Cardillo, an economist at Rockwell Global Capital in New York told Reuters. "The numbers also strengthen the hand of the Fed to aid the economy with more stimulus."
- Global manufacturing slumps- The flash manufacturing Purchasing Managers Index for the U.S. edged slightly higher to a 51.9 reading in August from 51.4 in July, according to Markit. The August reading marked the first monthly increase in five months, but it was the third weakest result since the manufacturing sector stopped shrinking in October 2009. New export orders continue to be below the 50 mark, indicating contraction, but output and new orders rose. Also causing concerns is the HSBC Flash China manufacturing PMI which fell to 47.8 for August, its lowest level since November and well down from July's final figure of 49.3.


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Megabus run at 06:15 service from the Shudehill Interchange in Manchester, arriving at Colmore Circus in Birmingham at 08:45.
Colmore Circus is around a 10 to 15 minute walk from the start and the baggage drop at the National Indoor Arena so you should have plenty of time to get ready once you get off the coach ahead of the start at 10 am.
www.megabus.co.uk is the website.
Hope that helps!
Took part in a soaking wet Centurion Grand Prix 5 mile race today - It was so wet, the race numbers were washed off my and several other runners tops!
The February race which was called off due to snow, has now been rearranged for Sunday April 29th.
Also have seen a tweet from Tom Williams from parkrun saying that as well as carrying out a visit to Walsall yesterday ahead of their first event next weekend, he's also been checking out a new course in Wolverhampton.
Exciting times, with a choice of four, and potientially five parkruns events in the West Midlands county every Saturday morning.
To add to the existing 5k Parkruns in Birmingham, Solihull and Coventry, a new event in Walsall starts next Saturday (10th March) at 9.00 am.
It's being held at Walsall Aboretum. Details here:
Some disappointing news on BBC Radio Nottingham this morning:
The half marathon is still due to take place and the provisional date is set for Sunday September 30th.
There's an interview with race director Chris Sumner, on this morning's Radio Nottingham breakfast show available on the BBC iPlayer link below:
Interview starts at 2 hours 41 minutes in.
Re: Charlotte Smith and your finishing time.
A quick name search for photos on the www.marathon-photos.com website shows your time as 3 hours 05 minutes and 30 seconds.
I presume you're the runner wearing army gear!
Congratulations on your time!
Visit the official Runner's World page
Follow Runner's World on Twitter
Click here
Other Natmag-Rodale Sites
Run For Charity
Injury Clinics
About Runner's World


text:
"And if a woman should say she doesn't want to have children at all, the world is apt to go decidedly peculiar: 'Ooooh, don't speak too soon,' it will say - as if knowing whether or not you're the kind of person who desires to make a whole other human being in your guts, out of sex and food, then have the rest of your life revolve around its welfare, is a breezy, 'Hey - whevs' decision. Like electing to have a picnic on an unexpectedly sunny day or changing the background picture on your desktop. 'When you meet the right man, you'll change your mind, dear,' the world will say, with an odd, aggressive smugness."
— Caitlin Moran, How to Be a Woman (via littlekitsch)
(Source: futuresong, via booklover)


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DSCI1647 [Braintree: Ballot positions chosen for Nov. 8th election]
– Posted on October 6, 2011
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GREEN BAY, WI (LEARFIELD-WSAU) The Green Bay Packers and Minnesota Vikings will both start practicing today for their Sunday contest at Lambeau Field. It's likely that each team considers the other vulnerable.
The Packers have dropped three straight -- and the offense, defense, and special teams have all shown their weaknesses in the absence of injured quarterback Aaron Rodgers.
Minnesota is 2-and-8, with the uncertainty of who will start at quarterback every week. The Vikings have the N-F-L's fourth-lowest team passer rating at 72-point-five. They have not announced whether Christian Ponder, Matt Cassel, or Josh Freeman will start against the Pack on Sunday.
The Packers will definitely be the hungrier team, as they're fighting for their playoff lives. At 5-and-5, they're one of 10 teams at .500 or better vying for the N-F-C's six post-season spots. Green Bay's avenue to the playoffs appears to be in the N-F-C North, where they remain just a game behind co-leaders Detroit and Chicago -- and they still play both those teams once more.
Scott Tolzien will make his second straight start at quarterback for Green Bay.


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Under DDoS Attack?
Need Immediate DDoS Mitigation Support? A Verisign DDoS expert will contact you shortly
or Call +1‑703‑763‑4544
As the global leader in domain names, Verisign powers the invisible navigation that takes people to where they want to go on the Internet.
Verisign's infrastructure services help to ensure that your organisation's websites are reliable and always available.
Verisign provides in-depth analysis, insight and response recommendations to help keep businesses and government organisations ahead of new and evolving cyber threats and vulnerabilities.
As the Internet continues to expand, Verisign is committed to creating and driving advancements that keep the Internet fast, safe and reliable for all users.
Snort is an open source network intrusion detection (IDS) and prevention system (IPS). In addition to being available as a package for most Unix operating system distributions, various commercial hardware devices also use Snort as an IDS/IPS. For more information, see the vendor's website found at the following URL.
Remote exploitation of a design error vulnerability in Snort, as included in various vendors' operating system distributions, could allow an attacker to bypass filter rules.
Due to a design error vulnerability, Snort does not properly reassemble fragmented IP packets. When receiving incoming fragments, Snort checks the Time To Live (TTL) value of the fragment, and compares it to the TTL of the initial fragment. If the difference between the initial fragment and the following fragments is more than a configured amount, the fragments will be silently discarded. This results in valid traffic not being examined and/or filtered by Snort.
Exploitation of this vulnerability allows an attacker to bypass all Snort rules. In order to exploit this vulnerability, an attacker would have to fragment IP packets destined for a targeted host, ensuring that the TTL difference is greater than the configured maximum. By default, the maximum difference is 5.
If an attacker is successful, all fragments with invalid TTL differences will be dropped. No rules will be applied to them.
iDefense has confirmed the existence of this vulnerability in Snort 2.8 and 2.6. Snort 2.4 is not vulnerable.
In the snort.conf file, set the ttl_limit configuration value to 255 as shown below.
preprocessor frag3_engine: ttl_limit 255
This will set the allowable difference to the maximum possible value, and prevent fragments from being dropped.
Sourcefire has addressed this vulnerability by releasing version 2.8.1 of Snort. For more information consult their change log and source differences at the following URLs.
The Common Vulnerabilities and Exposures (CVE) project has assigned the name CVE-2008-1804 to this issue. This is a candidate for inclusion in the CVE list (http://cve.mitre.org/), which standardizes names for security problems.
02/26/2008 Initial vendor notification
02/26/2008 Initial vendor response
05/21/2008 Coordinated public disclosure
This vulnerability was reported to iDefense by Silvio Cesare.
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Copyright © 2008 Verisign, Inc.
Permission is granted for the redistribution of this alert electronically. It may not be edited in any way without the express written consent of iDefense. If you wish to reprint the whole or any part of this alert in any other medium other than electronically, please e-mail customer service for permission.
Disclaimer: The information in the advisory is believed to be accurate at the time of publishing based on currently available information. Use of the information constitutes acceptance for use in an AS IS condition. There are no warranties with regard to this information. Neither the author nor the publisher accepts any liability for any direct, indirect, or consequential loss or damage arising from use of, or reliance on, this information.


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New Zealand Embassy Jakarta, Indonesia
Doing business in New Zealand
Business.newzealand.com is the New Zealand Trade and Enterprise website designed for international investors and businesspeople interested in doing business with New Zealand. You can learn about New Zealand's economy and export industries, locate New Zealand companies, products and services, investment opportunities, and New Zealand participation at international events.
Business.govt.nz is the New Zealand government website that brings together business resources, tools and information to help people start, manage and grow their business. Business.govt.nz is managed and maintained by the Ministry of Economic Development (MED). MED works to ensure New Zealand is one of the best places in the world to do business.
Of interest
United Nations Handbook
The UN Handbook is a comprehensive guide to the UN system and how it works. Read more
Elections for the United Nations Security Council
New Zealand is a candidate for election to the UNSC for the two-year term 2015-16. Read more
Registering your overseas travel made easier
New Zealanders travelling or living overseas, registering your travel online now made easier. Read more
Ambassador's blog
Read the latest posts from David Taylor, New Zealand's Ambassador to Indonesia and to ASEAN. Read more
NZ Inc ASEAN strategy
This regional Strategy outlines how New Zealand and ASEAN will become better connected. Read more
New Zealand ASEAN Scholar Awards
Open to eligible candidates from the public, private and civil society sectors. Read more
The Christchurch Earthquake Appeal
News about how the donations are contributing to the rebuild, ways to donate and more.


text:
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The X Factor
What makes a company great. What makes people quit.
It was the day after Christmas when Helen Abe packed her bags for Kansas. The doctors had run some tests on her mother and found lung cancer. To root out the cancer, they would hit it with an aggressive, double shot of chemotherapy and radiation. Abe knew she had to be there for the hospitals trips, for the baffling medical reports, for the exhaustion.
"It was my mother, I had to go," says Abe, an executive assistant at the Hawaii District Navy Exchange and a single mom with one daughter. Abe had just one week of vacation to burn, then the bills would pile up. That was reason to worry when her mother's illness was already enough to worry about. But Abe's employer had a special program for situations like these. Employees at the Navy Exchange can donate their vacation days to co-workers in need, like Abe.
"I have never worked for a company that had that type of thing and I think it's wonderful, especially when you are in a situation which is pretty sad anyway," says Abe, 43, who returned to work six weeks later, after her mother completed her round of treatment, without missing a pay check. "It sure takes the burden off."
|HIGH ROLLERS: For the company's 20th anniversary, Maryl Group took its employees on a 4-day trip to Las Vegas. The employee first policy at Maryl is paying off for the company, too. In 2005, Maryl had its best year ever with $115 million in revenues, an 85 percent increase over 2004. Pictured are Maryl owners Mark and Cheryl Richards, flanked by employees. Photos by Jimmy Forrest
Those types of benefits are part of the reason the Navy Exchange ranks No. 5 on Hawaii Business' Best Places to Work List for large companies. Companies that take care of their people are places people want to work. But the benefits are only the beginning of the story. In interviews with consultants, professors and companies that are getting it right, the road to becoming a Best Place to Work is built on an affirmative, bottom-to-top corporate culture, not benefits.
Whether they work for a real estate firm, a hotel chain, a construction outfit, a school system, a hospital or a jewelry manufacturer/retailer, people want to believe in their company. People want to be supported, they want to grow, they want fairness, they want leaders and they want unity. That's how we're hardwired. "You can't buy your way into a Best Place to Work with benefits," says Richard Boyer, managing partner of Wilmington, Del.-based ModernThink, which was contracted by The Best Companies Group to compile our Best Places list.
In the following pages, we set out to unlock some of the secrets of being a Best Place to Work, because being a Best Place is not just feel-good rhetoric. The financial rewards are clear: less turnover, better hires and more production. Some methods are straightforward, like continually recognizing good work. Some of it comes down to intangibles, such as buy-in in a company's mission, such as the characters of its leadership and its employees, what we call the X factor.
At the Navy Exchange, Veronica Manz, human resources manager, says it's the mission of its retail/service centers – to support the men, women and families of the military – that has electrified the staff. So when Abe needed help when her mother fell ill, even at a large company such as the Navy Exchange, with more than 1,300 part-time and full-time employees, people were ready to help. It's not the benefit that's noteworthy, it's that people were so willing to give for the team.
"They don't even need to know the person; all they need to know is that they are Navy Exchange," says Manz.
More Than Words
Boyer, of ModernThink, remembers working with the senior leaders of a $600 million Mainland company a few months back. The executives were all patting each on the back because their staff had all reported they knew the company's newly adopted mission and values. Boyer asked the leaders to tell him what the values were. "Nine out of 10 went diving for their notes," he says. "Mission statements need to be more than posters on the wall."
Boyer says a strong mission or team can be rendered apathetic by floundering or distant leadership, and strong senior leadership can be sunk by a bitter or unqualified supervisor. Leadership and supervisors need to have both the talent and the ability to gain the respect that comes from establishing fairness and openness in the workplace.
Increasingly, as the next generation enters the workplace, more and more emphasis is being placed on what the company can do for the employee, says Boyer. "They want the company to invest in them," he says.
For Generation Y in particular – often defined as those born between 1980 and 2000 – the job needs to be rewarding, whether it is through career or personal growth or just a clear understanding of each employee's impact on the mission. Employees want proper training and support, they want constructive feedback and they want to be recognized for their work. They also want their personal lives to be incorporated into the company's vision, with opportunities such as flextime and telecommuting. It's not rocket science, nor does it have to cost a company a lot.
Good pay and benefits, such as health plans and 401(k)s, are keys to being competitive, but the overall commitment to workers has to be in place, Boyer says. That's what makes people love their jobs.
Boyer admits that, to some old-school business thinkers, this might sound like coddling your employees. It's not. It's about good business, and, in an increasingly competitive environment for workers today, this is also where business is headed. "That is the reason we are seeing more emphasis on being the employer of choice," Boyer says. The bigger issue today is how to do it.
University of Hawaii business professor Richard Brislin says he's surprised that more Hawaii companies have not moved in that direction. In Hawaii's extremely tight labor market, a nurturing corporate culture could easily distinguish a company, he says. Brislin cites unfair promotions and domineering supervisors as two quick ways in which companies create negative environments.
At ALTRES, a staffing and human resource outsourcing company, consultants help clients avoid the pitfalls of becoming places where no one wants to work, says Debbie Padello, director of human resources. Padello agrees that bad promotions and bitter supervisors have lasting negative effects in the workplace, but things like failing to give employees the tools they need or even just the absence of a common goal can also kill morale. The price can be steep.
"Negative morale spreads like cancer. Once employees don't appreciate where they work, they don't want to come to work and their productivity decreases. Or they leave," says Padello, whose company is No. 3 on the small-company list. "Negative morale is easier to foster than positive morale, but if you don't make it a priority, it will suck you down the tube."
|NAME RECOGNITION: All Edward Jones offices have just a two-person team, so clients are always sure to meet someone who knows your name. The company takes the same personal approach with all its employees. Pictured is Asa Kajihiro, investment representative, and Tara Rapoza, branch office administrator, at their Kakaako office.
The X Factor
When Jennifer Rappenecker, the regional director for Edward Jones in Hawaii, gave birth to her son two years ago, here's what the company did. Edward Jones hired an investment representative from Louisiana to come out to Maui and work her client list during her three-month maternity leave. The idea was to create a situation where Rappenecker would not have to worry about losing clients in her absence. The guy from Louisiana wasn't going to bring her Hawaii clients back home; so she could give her full attention to the first moments of motherhood.
"That was impressive to me," Rappenecker says.
All the companies on the Best Places to Work lists have the basics down. But we also found that all these companies had something extra special, some guiding light – a leader, a value or a mission – that tied everything together and took them from being good places to work to great places.
Take Edward Jones; No. 1 on the small-company list. It invests thousands of dollars training an investment representative. Then Edward Jones makes sure it treats them like it wants them around for a long time.
At PM Realty, No. 4 on the small-company list, Corrine Hiromoto, a senior property manager, says trust is the hallmark. "People feel they can grow here," she says. For herself, it meant everything that, when she was managing two small properties downtown, her boss asked her to take on City Financial Tower on Merchant Street. He recognized Hiromoto had bigger aspirations, gave her the support she needed and gave her the chance to get there. "When someone puts their faith in you, you want to make sure you do it," says Hiromoto.
At Outrigger Hotels, a locally founded, family-owned business, Hawaiian values are part of every aspect of its operations. Perhaps most of all, the value of ohana is reinforced from top to bottom. "People truly respect each other like family here," says assistant housekeeper Jo-Ann Yonamine. That is never clearer to Yonamine then when she sees the grandchildren of the founders intern at the company. "They do everything. They come to housekeeping and they make beds and clean toilets. Then they don't go out and eat lunch, they eat lunch with the housekeepers." Outrigger ranks No. 2 on the large company list.
At Na Hoku, president and CEO Ed Sultan, says the jewelry manufacturer and retailer has never embraced any textbook management theories on corporate culture. For years, Sultan's team had just been making decisions according to what was best for business. Now his team has established a straight-shooting style that permits no sacred cows and does absolutely everything it can to give its people the tools to flourish. His people like it. Na Hoku is No. 3 on the large-company list. "People like to be winners and here they can be," Sultan says.
At Maryl Group Inc., Mark Richards, who owns the company with his wife, Cheryl, says they worked for years to achieve a corporate culture that invigorated people. They did everything by the book, but something was always missing. Then the Richards had an Aha! moment. They not only had to make a workplace that people loved, they had to hire the kind of people who would flourish in it.
"We don't even look at the resume until we ascertain that applicant's value structure. Character is the first gate. Then we look at the experience profile and aspirations," Richards says. "For a long time, we had it wrong. We were looking for intellect, drive, creativity and all that kind of stuff and we were failing."
Now the development and construction firm is No. 1 on the large-company list. This past year, Maryl recorded its best year in its history, at $115 million, a 30-percent increase over the prior year, without a sizable increase in staff. "People are working harder, but they don't get the stress factor, because they enjoy what they do," Richards says. "It is a wonderful thing to behold."
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Investigators are responding to a hit and run accident that caused one of the vehicles to strike a building at Lee Boulevard and Curtis Avenue in Lehigh Acres.
According to the Lee County Sheriff's Office, a white Chevy Malibu was driving west on Lee Boulevard when it side swiped a blue pickup truck that was also headed west.
The pickup truck's driver lost control and the truck struck the building.
The driver of the Malibu fled the scene.
Deputies say the white Malibu has damage to the driver's side and is missing a mirror.
The driver of the pickup truck borrowed it from his boss.
"It's terrible that we're going to lose one of our trucks, but I mean we'll make do," said Robert Waring, the owner of the truck that hit the building.
3719 Central AvenueFort Myers, FL 33901Main Phone: (239) 939-2020Newsroom Phone: (239) 939-6223


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Of the 500 Fastest Supercomputers, 455 Run on Linux
Linux dominance helps out users, in the end.
The biannual list of the fastest supercomputers in the world was released at the beginning of June and unsurprisingly, the vast majority (91 percent, to be exact) run some form of the Linux operating system. The Linux Foundation's Amanda McPherson discussed the positive effect this statistic has on end users by citing that any improvements to Linux made by one of the supercomputer manufacturers got poured back into the kernel.
"Just remember that today's desktop PC was considered a super computer not long ago," McPherson added.
The United States lays claim to the highest number of supercomputers, along with the fastest supercomputer, the Cray XT Jaguar, which contains 224,162 processor cores and is capable of 1.759 peta FLOPS.
China increased its number of supercomputers to 24, tying Germany, while moving up to second place in performance behind the US.
IBM lead in market share with 196 supercomputers (39 percent of the market), while HP followed close behind with 186 units (37.20 percent).
Supercomputer performance is measured with the LINPACK Benchmark. This benchmark requires a computer to solve a dense system of linear equations and is scalable in order to optimize performance for a given system. In short, every system was tested under ideal conditions.
The BBC has provided a thorough visual aid for the list. The full list including every exhaustive detail can be found here.
Of Course!! Linux Forever!Of Course!! Linux Forever!
Issue 168/2014
Buy this issue as a PDF
Tag Cloud
Mozilla Labs Shuts Down
Mozilla's product think tank sinks silently into history.
Internet Giants Launch Collaboration to Improve Open Source
TODO group will focus on open source tools in large-scale environments.
Fedora Announces New Partition Manager App
New tool will look like GParted but support a wider range of storage technologies.
Mozilla Releases a New Firefox
New public key pinning feature will help prevent man-in-the-middle attacks.
Tool Predicts Which Websites Will be Compromised
Carnegie Mellon researchers say 3 million pages could fall down the phishing hole in the next year.
SSH Key Management Guidelines
The US government rolls new best-practice rules for protecting SSH.
Knoppix 7.4 Released
Klaus Knopper announces the latest version of his iconic Live Linux system.
PHP Attack Puts WordPress and Drupal at Risk
All websites that use these popular CMS tools could be vulnerable to denial of service attacks if users don't install the updates.
Heartbleed Bleeds On
According to a report, many potential victims of the Heartbleed attack have patched their systems, but few have cleaned up the crime scene to protect themselves from the effects of a previous intrusion.
Drone Brain Goes Open Source
DARPA and NICTA release the code for the ultra-secure microkernel system used in aerial drones.


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What happens when Justin Bieber poses with the Stanley Cup? A lot of sports fans complain, that's what.
Justin performed Tuesday night at Chicago's United Center, the home of the NHL's Blackhawks, who won the pro hockey championship last month. After the show, Justin had the opportunity to pose with the Stanley Cup, arguably the most recognizable championship trophy among the major sports.
The senior director of market development and community affairs for the Blackhawks, Peter Hassen , tweeted a photo of the Bieb with the Cup, a move that has not gone over well with some sports fans. A sample of the Twitter backlash: "When The Cup jumped the shark," "there are many words among them are shame and disappointment," and, "Just lost a lot of respect for Blackhawks."
Hassen defends the photo op, writing to one person on Twitter, "people need to relax. Justin Bieber reaches the same market audience that we will need to be the next Blackhawks fans."
Justin has also caught flak for stepping on the Blackhawks logo in the team's locker room -- a no-no among hockey players. The team's rep tells TMZ that Justin "did accidentally step on the logo but was immediately asked to step off and was extremely sorry as soon as he realized what he did."
In any event, Justin posing with a sports trophy isn't nearly as scandalous as his alleged urination into a restaurant mop bucket in New York City earlier this year.
Copyright 2013 ABC News Radio


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We encourage alumni to share their experience and love for Medaille College by nominating a first-time freshman or transfer student. Alumni must complete our Alumni Referral Scholarship Form and submit by February 1st for fall semester or by October 1st for spring semester starts.
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The instructors were knowledgeable and welcomed class discussions, with
respect for each student's contribution. I've learned how to be a more
effective leader. My capstone class gave insight on how to combine all
the education learned to operate a business. That's when I realized how
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Could Hershey soon print candy in 3-D?
The company is teaming up with 3D Systems to integrate the technology into its production. It could be used to make new candies.
By Christopher Freeburn
Hershey (HSY) is teaming with 3-D printer-maker 3D Systems (DDD) to integrate 3-D printing technology into the candy production process. The news sent 3D Systems' stock up almost 3% in Thursday trading.
Terms of the multi-year deal were not disclosed. A Hershey executive noted that the nation's top candy producer was always looking to "embrace new technologies." The 3-D printing technology could be used to create new types of candy products for Hershey. It may also be used to improve the production of existing Hershey brands.
Hershey produces Reese's Peanut Butter Cups, the top-selling candy brand in the U.S, and one projected to provide nearly $2 billion in revenue this fiscal year.
In October, Hershey launched its first new candy in three decades, a chewy caramel called "Lancaster."
Hershey also is taking on Nutella, the popular hazelnut-flavored snack spread from Italy's Ferrero, by introducing a line of chocolate-flavored snack spreads.
Shares of HSY gained more than 1% on Thursday.
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B&Bs in El Remate, Guatemala
Hostal Hermano Pedro TikalEl Remate, Flores
This is the best economic, family and ecological lodging choice settled in heart of Peten Forest on the Peten Itza Lake and the Biosphere Hill Cahi. It is also closed to Santa Elena/Flores and Tikal National Park where you can see the most amazingMore Details about Hostal Hermano Pedro Tikal
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Hotel Las GardeniasEl Remate, Flores, Peten
The Gardenias gives them the most cordial welcome to their family atmosphere, we can give information on how to do a better visit to Tikal National Park and other sites of interest to you. We accept Credit card (Visa), Traveler's Checks (U.S. dollar), we change Euros, Dollar Belizean, Mexican pesos. We have INTERNET service, one hour free for our guests. Our restaurant is open from 6:00 am to 9:00 pm, homemade style, our prices Q. 25.00 to Q.45.00 with several menus and dishes to...More Details about Hotel Las Gardenias
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