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Shots - Health News UOK? 'Dystextia' Alerts Doctors To Neurological Problems December 24, 2012 The inability to send coherent text messages, or 'dystextia,' is helping doctors diagnose neurological problems. In one recent case, a series of garbled text messages was an early signal that a woman was having a stroke.
Shots - Health News Text Messages Help Smokers Kick The Habit December 3, 2012 Texting may not always be the best method of communication, but it can be a promising support network for smokers who want to quit. Several recent studies show that receiving an encouraging text can help stave off a cigarette craving and boost motivation to quit for good. Listen Loading… 3:00 Download Playlist
13.7: Cosmos And Culture Can College Students Resist The Lure Of Facebook, Twitter During Class? August 16, 2012 What's a professor to do when students are more focused on their electronic gadgets than on class? Commentator and William and Mary professor Barbara J. King writes an open letter to students, and issues them a challenge.
All Tech Considered Text-Talented Or R U All Thumbs? August 8, 2012 If you think terrific thumbs are all you need to take home the U.S. National Texting Championship, think again. This is no touch and go competition.
The Two-Way FAWC: Wisconsin Teen Retains Title Of Fastest Texter In America August 8, 2012 Competitors will be in New York City this afternoon for the annual LG U.S. National Texting Championship. There's a $50,000 top prize at stake, BTW.
Blog Of The Nation Please Leave A Message October 23, 2011 Leaving and listening to voice messages may be a dying routine, but texts and emails just aren't the same. Producer Priska Neely recently took a long bus trip and decided to go through a full inbox. Voice mail may take longer, but sometimes it's worth it.
Blog Of The Nation It Could've Been Love, But It's All Over Now January 26, 2011 Gchatting, texting or Facebook messaging with the object of your affection. Back in my day, it would've been e-mail. So much to say, but you never pull the trigger. This video's gone viral, prompting many to consider saying what they mean.


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Tag Archives: Model A
AACA's Top 10: Club picks 'Most Significant Antique Automobiles'
The Antique Automobile Club of America (AACA) selected 10 vehicles it has determined are the most significant automobiles that have influenced American automotive history. More
Categories: Club News, Hobby News
Tags: AACA, antique automobiles, beetle, Cadillac, Chevrolet, Cord, cruved-dash, Essex, Ford, LaSalle, Model A, Model T, old cars, Oldsmobile, vw
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New Model A Ford Museum to be world's largest
A new Model A Ford Museum — touted as the world's largest public museum dedicated to the 1928 through 1931 Ford Model A — will have its grand opening ceremony on May 18 in Hickory Corners, Mich., from 9 a.m. … More
Watching The Fords Go By: 'A' ghost story
Are you intrigued by anecdotal stories about old Fords and the people connected to them? Check out this ghost story… if you dare… More
Model A 101: Car connects club and career center
KANEVILLE, Ill. – Fox Valley Region of the Model A Restorers Club, Geneva, got together with students of the Auto Tech class at the Fox Valley Career Center, Kaneland High School to introduce the Model A Ford. Automotive classes are … More
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ACD Museum kicks off festival with 12 classics for sale in benefit
The Seventh Annual Auburn Cord Duesenberg Automobile Museum's Benefit Extravaganza will be at 6 p.m. Aug. 30. This is the Museum's premier event of the ACD Festival Weekend. Each year automobiles (not from the museum's collection) are auctioned at the … More
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Iowa celebrates Model A Day
The Hawk A Model A Ford Club is hosting its third annual Iowa Model A Day on Saturday, Aug. 20, 2011 in Amana, Iowa. Organizers say the intent and purpose is to bring Model A owners, Model A enthusiasts and … More
Legendary marques to compete at Dana Point
Impressive Nethercutt Collection to display classics during three-day weekend More
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HOLIDAY MODEL A Tour
On May 28, several dozen members of the Model A Ford Club of America departed from a McDonalds on Capital Drive, in Milwaukee, for an adventure that some participants planned to take more than a week to complete. While the … More
Stolen restored Model A pickup recovered
Truck found in Montana storage unit
Hartmaier Model A to journey to new home at AACA Museum
This Saturday, a 1929 Model A Ford continuously owned and operated for nearly 80 years by the same man will ride to its new home at the AACA Museum in Hershey, Pa. The car will become a part of the museum's permanent collection as willed by its now-deceased owner.

subset: commoncrawl


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OCR for page 71
Investing Private aM
Public Capital in
the Urban Future
Just as today's urban areas reflect past patterns of capital investment,
those of tomorrow will reflect the flow of capital that is occurring now.
Private capital flows to economic activities and, incidentally, to the places
where those activities occur. The activities that attract private capital and
the speed with which they attract it can have a profound impact on patterns
of development and, as we have seen, on how areas evolve in the urban
Because they rarely reach major money and stock markets, local and
state policies appear to have relatively little effect on the flows of private
capital to firms; the market and federal policies are far more influential.
State and local policies are, however, far more important factors in the
location of firms. Public investment in urban infrastructure, environmental
regulations, and economic development policies can influence where firms
are able to locate. Federal policy also substantially affects the level of
state and local public investment and the kinds of facilities that are pro-
This chapter discusses the implications for urban areas of policies that
would stimulate the flow of capital to those sectors of the economy that
show promise of strong performance in international markets and others
that need modernization or are important to national interests. Such policies
are significant for urban policy because they could accelerate the trans-
formation of urban areas; they raise significant issues about the use of
capital resources in urban economic development. The level and quality
of public investments are other aspects of national urban policy that can
OCR for page 71
Rethinking Urban Policy
affect how well, and how fast, urban areas are able to adjust to a major
shift in economic structure. We thus consider the need to make sufficient
capital available for infrastructure to support economic development. We
conclude the chapter by discussing a framework for urban economic de-
velopment strategy.
When we talk about the flow of capital to particular sectors of the
economy, we do so with considerable modesty. The state of knowledge
of capital markets and how they work is still rudimentary. What causes
investors to move their money from one sector to another and especially
from one region to another is not always clear. Classes of investors seek
different objectives: some are content with secure, long-term low yields;
others take high risks in hope of quick, high returns. The sources of capital
are diverse. Financial institutions, businesses, pension funds, and indi-
viduals make millions of calculated or impulsive decisions every day.
They consider factors ranging from exhaustive studies by market and
industrial analysts to their horoscopes. Net flows of capital reflect the
cumulative result of those decisions. In this context one factor that influ-
ences investor choice is public policy.
Whether it is deliberately interventionist or passive toward capital mar-
kets, public policy affects levels of risk and rates of return on investments.
It also influences how investors perceive certain sectors of the economy.
For example, monetary and fiscal policies affect how much capital is
available to the private sector for investment and its cost to borrowers.
Credit and tax policies may encourage investments in industries such as
housing or energy development. Direct subsidies may improve yields from
investments in agriculture or defense industries. Indirect subsidies such
as tax credits or loan guarantees can reduce risks for activities such as
research and development or new enterprises.
Although they do not fully determine the direction of capital flows, the
effect of national economic policies on the flow of capital to different
sectors of the economy is increasingly recognized as a serious national
problem (Schwartz and Choate, 1980:65-88; U.S. Congress, Joint Eco-
nomic Committee, 19741. In spite of gaps in our understanding of just
how or to what extent policy affects capital flows, some sectors have been
consciously subsidized over a long period of time housing, agriculture,
defense, and transportation are examples. An estimated 13.9 percent of
the GNP in 1980 was consumed in subsidies to various industries, exclu-
sive of the costs to consumers of various special barriers to international
competition, such as tariffs, market quotas, cartelization (Reich, 19821.
OCR for page 71
Investing Private and Public Capital in the Urban Future 73
Whatever the original reasons for these subsidies, they have often con-
tinued, almost as entitlements, without serious assessment of their impact
on the flow of capital to other sectors that might improve both national
economic efficiency and interregional or intergroup equity (Schwartz,
19834. The lack of any coherent strategy results in part from the fact that
most subsidies arose initially more from the success of specific industries
in legislative lobbying than from a careful determination that their net
effect assisted the economy in meeting international competition, increased
productivity, or provided for real growth in the GNP.
Once established, such subsidies are extremely difficult to terminate
because they produce an organized constituency that represents both labor
and management; it often spans the ideological spectrum from right to
left. The withdrawal of subsidies, whether direct or indirect, can create
genuine economic dislocation. Adjustment problems are no less severe
than those created by technological change or foreign competition. Fi-
nancial institutions, for example, have undergone major restructuring in
the wake of changes in monetary and credit policies and as a result of
changes in federal regulations. Similarly, the sectoral consequences of the
1981 Economic Recovery Tax Act are substantial, but many of them were
both unanticipated and unintended (Palmer and Sawhill, 19821.
In the absence of any conscious sectoral perspective, national macro-
economic policies are highly susceptible to political pressure and panicked
governmental responses to industrial crises, as in the cases of Lockheed,
Chrysler, Wisconsin Steel, or the thrift industry. While all or any of the
actions taken to rescue these industries or firms might be defended from
a rational economic policy perspective, they offer no suggestion of what
U. S . policy might be toward the next crisis. Moreover, the ad hoc approach
to sectoral policy that they illustrate tends to focus on the most troubled
among specific industrial sectors, leaving the growth sectors of the econ-
omy to chance.
Sectoral Policy and Its Critics
This lack of coherence has led a growing number of economists and
business interests to propose that the United States establish an industrial
or sectoral policy aimed at strengthening the international competitive
~ Reich (1982) points out that in 1980 five times as much was being spent on research and
development in the commercial fisheries industry as in the steel industry and that while the
timber industry received tax breaks of $455 million, the semiconductor industry received none
(also see Schwartz and Choate, 1980).
OCR for page 71
Rethinking Urban Policy
position of U.S. industries and at facilitating the adjustment of the econ-
omy to structural changes (Bell and Lande, 1982; Business Week, June
30, 1981; Leone and Bradley, 1981; Reich, 1982; Schwartz and Choate,
The advocates of this position argue that national economic policy has
been concerned primarily with the aggregate growth of capital and that,
while this is necessary, it is not sufficient when the overall restructuring
of the national economy is occurring simultaneously with the internal
restructuring of many sectors and industries. Thus in contrast with the
thrust of traditional national economic policy, sectoral policy would be
more concerned with capital allocation than with aggregate capital for-
mation. It would focus on the most productive pattern of investment,2
favoring those linked industries that show strong promise as international
competitors and as sources of economic growth as well as other industrial
groups that are important to national interests. At the same time, sectoral
policies would seek to develop the industrial infrastructure and the skilled
work force that is needed to support those linked industries. They would
also recognize the need to balance the growth of regions, to maintain a
strong productive capacity in certain industries, and to assist workers
forced to retrain or relocate in order to defuse the resistance to economic
change likely to come from those who would be hardest hit (Reich, 1982:751.3
The critics of sectoral policy contend that it would involve the govern-
ment in planning the economy and in the selection of industrial winners
and losers through a political process rather than through the market.
National economic policy, they argue, should concentrate instead on cap-
ital formation, letting the market determine where capital should flow.
The basic concern of the national government should, therefore, be on
the aggregate growth of the economy, without regard to where that growth
occurs regionally or in which sectors of the economy.
While advocates of sectoral policy point to the success of other coun-
tries, particularly Japan, in promoting the growth of some industries and
facilitating the shrinkage of others that were less competitive, the critics
remain skeptical of the actual effect of public policy on national economic
2 The evidence is weak that the restructuring of the economy that has occurred, as such, has
increased productivity at least as productivity is usually measured. Since 1973 the effect on
productivity has been slightly negative (Jorgenson, 1980). A more recent study concludes,
however, that the shift to services has had a negligible effect on productivity decline, a fact that
is attributable mainly to shifts in goods-producing industries (Kutscher and Mark, 1982).
3 Such authors as Reich (1982) and Schwartz (1983) distinguish their proposals from "reindus-
trialization," which implies an effort to revitalize industries with a declining share of world
markets or those that make products that have little growth in demand.
OCR for page 71
Investing Private and Public Capital in the Urban Future
performance. They see government intervention primarily as a ratification
of market or industry choices rather than as a decisive factor in them.
They point to failures in decisions or refusals of industries to follow policy
and to great differences in national attitudes toward monopolies, labor
relations, and banking systems as constraints on transferring cooperative
approaches to industrial policy, such as those in Japan, to the United States
(Eads, 198 14.
Critics also argue that the market, with all its faults, is still far better
at selecting competitive industries than a bureaucracy or the Congress.
The market provides a reliable feedback mechanism that tests the sound-
ness of investment. Because government-induced investments generate
constituencies devoted to the perpetuation of the intervention even if it
is unsuccessful from the point of view of the overall economy any
industrial policy would lack the self-correcting discipline of the market.
The result would be unnecessary overinvestment in some sectors and
underinvestment in others because of political choices (Eads, 19811.
A Strategy for Sectoral Policy
As we have discussed in Chapter 4, macroeconomic policy makes choices
that may favor some industries or sectors over others. The result is an
implicit industrial policy. The decision-making process is not structured
in a manner that requires the consequences of those choices to be weighed
against each other. In many cases, subsidies are not identified and their
costs are not even acknowledged (Eads and Graham, 19824.
Political choices about the economy tend to be made largely in terms
of anticipated first-order consequences, that is, will they stimulate or
dampen the growth of the GNP? In an increasingly interdependent econ-
omy, second-order consequences�effects on specific sectors of the econ-
omy or on economic regions though often unintended, may be more
significant. These consequences are also harder to foresee or forecast.
There is a need for a more sophisticated understanding of these second-
order consequences and for consideration of alternative policies that might
have more salutary effects or fewer adverse impacts. Just as the Full
Employment Act and the creation of the Council of Economic Advisers
and the Joint Economic Committee have made the President and the
Congress more sensitive to the first-order consequences of their economic
decisions, it is now desirable to require wider understanding of second-
order consequences for particular sectors of the economy and for urban
Given the pluralism of our political economy, it may not be possible,
even if it were deemed desirable, to produce an internally consistent,
OCR for page 71
Rethinking Urban Policy
comprehensive, and explicit sectoral policy. In that light the task is to
understand the policy system well enough to obtain a better result from
the implicit policies. This suggests a conscious strategy as distinguished
from a specific policy or comprehensive law on the subject. It also allows
for a more experimental approach in an area in which too little is known
to justify a doctrinaire program.
Such an approach recognizes that some sectors and activities may indeed
be more promising than others for improving the competitiveness of U.S.
industries in the world economy; to the extent that our competitiveness is
enhanced, the number of jobs and the levels of income would be increased.
In this approach, economic policies should be examined to see whether
they are likely to reduce friction that impedes the development of those
sectors that are growing in response to market forces (Schwartz and C:hoate,
1980:109ff.~. This approach to sectoral strategy is concerned with accel-
erating or at least not impeding the shift of capital and workers from
declining to more promising sectors, as they are defined by the market.
It is also concerned with revitalizing and modernizing those sectors that
are important to national security, such as energy, machine tools, and
basic metals (National Academy of Engineering, 1983), and to other
national interests, such as public health and agriculture.
Sectoral strategy is concerned not only with the traditional or troubled
industries, such as the automotive sector, in which new capital is needed
for modernization, but also with emerging industries, such as genetic
engineering and international health services, and with sectors in which
the United States may already be dominant but could maintain or expand
its market position, such as computer technology. This strategy assumes
that some sectors can be expected to shrink and others to grow as they
adapt to new technologies, new markets, and new relationships within the
economy (Schwartz, 19831.
In addition to marginally influencing the flow of capital to those sectors
with strong market potential, sectoral strategy should support investment
in the development of the resources and systems they need to thrive. This
includes support for research and development, either directly or indirectly
through incentives built into macroeconomic policies (Mansfield, 19821.4
It also includes support for infrastructure (both public and private), training
the labor force, and improving management and productivity systems.
4 See Landau (1982) for a discussion of the importance of research and development to the
national economy and the relationship of tax policies to research and development. The delay
between invention and innovation and the discontinuity between old and new technologies appear
to be serious issues in need of policy attention (see Girifalco, 1981).
OCR for page 71
Investing Private and Public Capital in the Urban Future
Different sectors require different treatment during their growth cycles.
While price deregulation may be sufficient to reinforce enormous flows
of capital to energy-related industries, a quite different, more detailed
approach is required to speed modernization of the automobile, steel, and
machine tool industries. For them it is important not only to introduce
new technology, such as robotics, but also to bring about major institu-
tional changes in research and development, to change the locations of
some parts of the production process, to change management and labor
relations processes, and to improve international trade and marketing con-
ditions (National Research Council, 1983~. Public policy can affect the
degree and timing of these changes. Tax credits for plant modernization
or research and development, trade agreements, and the regulatory climate
all affect investment decisions.
Strategies appropriate to growth in high technology may also require
more than general tax credits for investments. Special incentives or pro-
grams for high-risk ventures seem required, particularly since one of the
principal forms of capital in new small enterprises is the talent of a few
scientists, engineers, and managers (Landau, 19821. Front-end venture
capital for such enterprises may often be far more crucial than tax abate-
ment or tax credits. It may also be important to consider changes in
supporting institutional systems, such as small-business development cor-
porations, patent law reform, university-corporate relationships (Giamatti,
1982), and university-government relationships (National Academy of
Sciences, 19831. In this sector and others, such as health services, the
supply of trained workers is a basic requirement for growth. The avail-
ability of business services can also be critical to high-risk, small-scale
enterprises. This is suggested by the high survival rate of firms assisted
by Control Data Corporation's Business Technology Centers (Norris, 19821.
Considerations such as these argue that the principal instruments of
macroeconomic policy could, at a minimum, be better informed and sharp-
ened by a conscious identification of those sectors that show considerable
promise for growth, those that are in trouble, and how each is likely to
be affected by existing or proposed policies (Eads and Graham, 1982~.
Macroeconomic policies could also benefit from an effort to identify their
intended (or at least their anticipated and probable) consequences for flows
of capital to particular sectors of the economy and how they might, cor-
respondingly, affect the structure of the labor market. Although economic
theory has not reconciled the conflicts in perspective between macro-
economic and microeconomic thought, a unified theory does not seem
necessary in order to establish a regularized feedback process to allow
these two perspectives to confront and be informed by each other (Landau,
1982; Michalski, 19821.
OCR for page 71
Rethinking Urban Policy
The admonition of critics of industrial policy that it would be unwise
for government to try to choose specific winners and losers is sound.
Experience with government support of research and development in seven
different industries suggests that the support was most successful when it
was associated with government procurement or a well-defined public objec-
tive, when the expenditures were guided by the scientific community, and
when potential users guided fund allocations. Programs in which govern-
ment officials tried to identify projects that would be commercial winners
were the least successful (Nelson, 19821.
It should be possible, however, to do a better job of coordinating national
economic policies to complement or reinforce the strategies of industrial
sectors as they seek to strengthen their positions in the market. It should
also be possible to reinforce the ability of market participants to plan ahead
more confidently but still leave private investors free to evaluate business
opportunities and to make decisions (Michalski, 1982~. In this sense,
sectoral strategy is not national planning but an attempt to make the
economy more adaptable and dynamic. Its objectives are to smooth the
movement of capital and labor out of declining industries and to ensure
that capital, labor, and other support is available to the more promising
and essential sectors. It aims to "accelerate and smooth the adjustments
that capital and labor markets would otherwise achieve more slowly on
their own" (Reich, 1982~.
Implications of Sectoral Policy for Urban Areas
Policies that prop up industries with poor futures on an equal basis with
industries that have promising futures ultimately waste resources and do
not really improve the long-run economic prospects of the urban areas in
which the troubled industries are located. The capacity of urban areas to
adjust to the new roles they must play depends heavily on the performance
of those sectors that are central to their economies and on their ability to
attract and nurture new kinds of economic activity. From an urban per-
spective, a sectoral strategy at the national level would help urban areas
understand better where the economy is headed and how their communities
and labor forces may be affected. It would help them identify the parts
of their local economies that have the most potential for growth in market
shares and jobs as well as those that have less, even though they may
continue to be viable enterprises.
Neither a general recovery of the national economy nor a more coor-
dinated approach to policies affecting the flow of capital to particular
sectors will result in an even distribution of economic opportunity and
wealth among regions and urban areas. The introduction of a sectoral
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Investing Private and Public Capital in the Urban Future 79
perspective into the shaping of national economic policies would alter
some of the urban effects of macroeconomic policies, but it would not
confront many of the most difficult issues of urban economic adjustment.
The phenomenon of simultaneous growth and decline within many urban
areas will continue. So will the concentration of services in the national
and regional centers and the decline of some of the older manufacturing
centers as capital flows are directed to higher-yielding investments that,
incidentally, are located elsewhere.
Some areas will get richer while others become poorer. There will still
be substantial labor redundancy in places where old industrial and labor
markets are contracting and changing structurally, even while some local
industry is being revitalized. The rate of job creation will diverge on the
basis of the economic function each metropolitan area performs. There
will still be serious institutional barriers to the mobility of workers from
one industry or occupation to another and from one metropolitan area or
region to another.
Sectoral strategies are concerned primarily with the mainstream of the
economy. This means that in all likelihood the reinforcement of capital
would flow to high-technology enterprises, producer services, and some
nonprofit services such as health and education. Substantial and accel-
erated growth would be expected in those places that have the natural
resources, labor forces, or other established growing industries on which
these activities depend and the institutional base, external economies, and
environment conducive to their needs. Similarly, the higher-level work-
ers professionals, technicians, and managers- could expect greater gains
from national economic growth than could service, clerical, and blue-
collar workers. Within individual areas and within the urban system, there
will be firms, places, and people that lose and gain.
A change in national tax policy, for example, that provides increased
incentives for research and development could provide some advantages
to cities in which research institutions associated with growing industries
are located. Policies that make it easier to sell services abroad would help
urban economies in which large-scale business service firms are concen-
trated, chiefly the diversified and specialized service centers.
Large-scale military expenditures are most helpful to the military-in-
dustrial centers and to those diversified or specialized centers that contain
substantial suppliers of military hardware or services. Some defense ex-
penditures, especially for research and development, and set-asides for
procurement from depressed areas are important tools for urban economic
development when they are consciously used to complement market forces
in the diffusion of innovation to other industries and to different urban
areas (Rees, 1983~.
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80 Rethinking Urban Policy
It is important to recognize that modernizing an industry does not nec-
essarily mean restoring the same jobs in the same places. The urban areas
that could be most affected by sectoral policies aimed at modernizing the
automobile industry can be easily identified. But modernization may in
fact entail closing inefficient plants, mechanizing much of the work, and
relocating some operations in other regions or countries.
Two hard-to-swallow realities should be acknowledged: (1) greater
competitive advantage in any single set of linked industries does not
necessarily lead to more jobs in all of the industries in that sector, and
(2) all places do not stand to benefit equally from structural adjustments
(Schwartz, in press). There are, in fact, substantial conflicts between
sectoral and regional or urban policies (Garn and Ledebur, 19821.
Shifting From Distress to Opportunity
In a perfect world no policy would be necessary for those left behind.
They would adjust to the emerging economy, and a new market equilib-
rium would be established. In the real political economies of advanced
nations, however, friction impedes adjustment and prolongs it because
the economic system is not pure and because its parts places, people,
and firms are not interchangeable and have considerable inertia. Some
places and people have less resilience, less capacity for positive adjustment
to different long-term economic roles, than others. Because the growing
and declining sectors are not evenly distributed among the regions of the
country and among the different types of areas within the urban system,
there is a need for a spatial as well as a sectoral perspective on national
economic strategy.
What happens at the level of the urban area is important to the national
economic system. When local unemployment is prolonged, some of the
unemployed become unemployable. The decline of local industry can lead
to a shrinkage of resources available for maintaining infrastructure and
services. A change that may appear minor from the national perspective
can be calamitous in the communities in which it is concentrated. Because
of the preexisting mix of industries and occupations in specific commu-
nities and because of enormous investment in capital stock, there are far
more rigidities to overcome at the local level than free market theory
acknowledges. What appears as a national equilibrium can be composed
of offsetting conditions of disequilibrium among urban areas, in which
capacities for adjustment vary widely.
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Investing Private and Public Capital in the Urban Future 81
Historically, national urban policy has consisted primarily of place-
oriented policies. These have included local planning assistance, urban
redevelopment programs, employment training programs,5 and a variety
of income and fiscal transfer programs (Hanson, 1982; President's Com-
mission for a National Agenda for the Eighties, 1980~. Although these
programs were substantial in number and have involved billions of dollars
over the past two decades in direct grants, fiscal and income transfers,
and tax expenditures or credits, they have been marginal to national eco-
nomic policy. Like sector-related policies, urban policy often has been
made as if national economic policy did not exist (Howell, 1981:346-
3471. There has been a tendency among national policy makers to think
of distressed cities and urban neighborhoods as backwaters rather than as
parts of the mainstream of policy.
Criticism of place-oriented policies by the President's Commission on
the Eighties and the Reagan administration is valid to the extent that these
policies were often designed to delay economic changes through subsidies
to obsolete enterprises, skills, or settlements (U.S. Department of Housing
and Urban Development, 19821. But such criticism is too sweeping. While
some place-oriented policies have probably been counterproductive to
constructive economic change and some have simply been ineffective,
others have materially assisted cities, industries, and workers in making
a transition to new functions and in generating better long-range local
economic opportunities.6 In general, however, program evaluations are
so fragmentary that conclusions about whether programs have worked
belong more to the realm of political than empirical judgment. About all
that can safely be said is that place-oriented programs have had a minor
if not negligible effect on the primary forces at work on the urban and
national economy (Vaughan, 1977:132-1374. But most of these policies
were not intended as measures to alter primary economic forces. They
were conceived instead to address specific local conditions, such as phys-
ical deterioration, lack of job skills, or poor public services.
Place-oriented policies have typically been targeted on the basis of
indices of "distress." Because of the politics involved in developing
statutory formulas for the distribution of funds, some have argued that
s The Comprehensive Employment and Training Act, however, was not strictly a place-oriented
6 For example, see evaluations of the Urban Development Action Grants program conducted by
the Reagan administration (Housing and Development Reporter, February 1, 1982:687) and the
Comprehensive Employment and Training Act (Mirengoff et al., 1980a, 1980b; also see Glick-
man, 1980).
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Rethinking Urban Policy
in tandem with other strategic tools, such as leveraged loans and infras-
tructure improvements.
No national or local economy can prosper without an adequate system
of facilities to support trade and commerce, to ease the travel of workers,
and to dispose of waste generated by urban life and industrial production.
There has long been a consensus that the federal government has a re-
sponsibility for promoting the development of a national system of in-
frastructure that can attract, support, and serve economic growth in all
regions of the country. ~3 This has meant, historically, a major contribution
by the federal government to sharing the cost of the necessary facilities
with state and local governments.
A national system of infrastructure includes the international and in-
terregional transportation system, advanced communications capability,
an energy supply and distribution system that is reasonably stable and
serves all regions of the country, adequate regional water supplies, and
waste disposal facilities that do not endanger the public health or safety.
A national system also involves adequate systems of urban facilities that
make it possible for the economy to function efficiently.
While all of these are components of a national system, the same level
of federal participation is not required for each. Electric power and energy
pipelines and most industrial waste disposal or reclamation systems can
be provided primarily by private industries. Federal involvement can be
limited primarily to tax policies that encourage business investment in the
facilities providing the necesary service and to regulations that deal with
fair pricing and environmental protection. Most urban infrastructure is
provided by state and local governments through their own capital fi-
nancing systems, primarily general obligation and revenue bonds. When
facilities are financed through revenue bonds, users pay fees that retire
the debt. Federal assistance has been crucial to the ability of state and
local governments to finance some public works, however. If substantial
federal financing of facilities is available, limited state and local funds
can sometimes be devoted to other projects.
Some parts of the national system are financed primarily by the federal
government, either rlire.ctiv ns in the. cane. of wnte.r reclamntion and water-
|3 Both the Reagan and Carter administrations, for example, identified urban infrastructure as a
major concern of national policy (U.S. Department of Housing and Urban Development, 1980,
1982). Major business groups have also strongly encouraged federal support of urban public
works (Committee for Economic Development, 1977).
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Investing Private and Public Capital in the Urban Future 87
ways projects, or indirectly, as in the case of the interstate highway
program. Except when it retains operating jurisdiction, the federal gov-
ernment provides little in the way of operating support for the capital
projects it helps finance. The urban mass transportation program has been
an exception to this generalization, but the Reagan administration has
proposed that the operating subsidies for public transportation be termi-
While a direct and substantial financial role for the federal government
in every aspect of the country's infrastructure is unnecessary and unde-
sirable, there is a national interest in ensuring that the infrastructure is
provided, that it adds up to a national system, and that it is kept in good
operating condition. Despite the broad consensus that the quality of in-
frastructure is important to the national interest, the nation as a whole in
recent years has fallen behind in maintaining existing systems and con-
structing new facilities.'4 The causes are complex. Many of the public
facilities built during the depression and the early post-World War II period
now need replacement or major repair. Systematic maintenance programs
have rarely been as attractive as new construction. Public expectations
have risen for the performance and quality of facilities. The costs of debt
service have risen, and repairs and new construction have been postponed.
The growth of urban social programs has competed with maintenance and
debt service for local budget priority.
The Need to Assess Need
The federal government is, and is likely to continue to be, a major
source of funding for key elements of urban infrastructure that are directly
related to economic development, particularly transportation and urban
sanitary systems. In addition to specific facility grant programs, a sub-
stantial amount of the money made available to localities through the
Community Development Block Grant program is used for local public
works projects.'5 Aside from the issue of the adequacy of funding for
these programs, there is a fundamental problem that should be promptly
addressed because its resolution will affect the future levels of expenditure
|4 The exact level of need is in considerable doubt, but there is agreement that it is substantial.
Estimates of need range from less than $1 trillion (Peterson et al., in press) to $3 trillion (Choate
and Walters, 1981). The problem is complicated by the absence of reliable data on existing
conditions in many cities and by the use of standards that often exceed possible funding levels
(National Research Council, 1982a; O'Day and Neumann, 1984).
|5 Since 1975, when the program began, 30 percent of all Community Development Block Grant
funds available have been used for public works.
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Rethinking Urban Policy
at all levels of government as well as the costs to users of the system.
That is the problem of assessing need and establishing priorities for ex-
penditures. To a considerable degree, federal standards for construction
or performance of these systems drive estimates of need. Since all esti-
mates of need are far higher than any foreseeable level of combined federal,
state, and local expenditures for public works, the cost-effectiveness as
well as the scientific or engineering basis for some of the standards that
are currently used should be closely reexamined (Hatry, 1981; O'Day and
Neumann, 1984; Public Technology, Inc., 19801.
The federal government should sponsor research on cost-effective stan-
dards and techniques for needs assessment and disseminate the results. It
should promote the development of guidelines for use by local govern-
ments and states in assessing the condition of their infrastructure and in
setting priorities and creating funding mechanisms for both construction
and maintenance programs.
Financing Urban Capital Improvements
Even if savings are possible through adopting more cost-effective stan-
dards for performance and through developing better techniques for ex-
tending the life of existing facilities and for replacing them, a major new
investment in public facilities in a number of urban areas clearly is needed.
Given the level of investment that will be required to provide, repair,
replace, maintain, and operate urban infrastructure, many state and local
governments will not be able to achieve acceptable levels of service with-
out some form of federal assistance.
One critical contribution of the federal government to urban infrastruc-
ture has been the income tax exemption for interest from state and local
bonds, although it is debatable whether it would be more equitable and
less costly to subsidize local capital programs directly than to take the
loss in taxes. This policy, however, has made possible the financing of
public works at relatively low rates of interest until recently, when bond
rates soared into double digits, effectively doubling the cost of debt service
in the course of a few years. High interest rates on general obligation
bonds have forced postponement of bond issues and deferral of construc-
tion and major renovation or replacement projects by many governments.
Continued deferral leads to even greater deterioration of facilities, resulting
in higher operating costs for governments and lost productivity for the
private sector and contributing to a jurisdiction's overall economic prob-
lems. Even in more favorable markets, cities and states with weak credit
ratings have an extremely difficult time marketing their bonds at reasonable
rates of interest. The bond rating of cities varies considerably, and in
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Investing Private and Public Capital in the Urban Future 89
recent years more major cities have lost ground in the bond market ratings
than have gained (Government Finance Research Center, 19821.
The cost of money for capital improvements is only one aspect of the
problem. For many decades, municipal bond markets were remarkably
stable, with interest rates hardly fluctuating from year to year. Long-term
capital improvement and debt retirement programs were possible. In recent
years, however, the bond market has become volatile, with greater fluc-
tuations occurring over a month than used to occur over several years.
This has made long-term financial planning extremely difficult for many
governments. These uncertainties have been compounded by fluctuating
funding levels for intergovernmental capital programs and changes in
direction or emphasis in the kinds of facilities eligible for federal assis-
tance. It is not of much value to a city if funds are available for bridge
repair when its most pressing need is for a new water system.
Other institutional problems abound at local and state levels. Only a
few jurisdictions have strong capital planning, budgeting, and management
systems. Consequently, needs are often inadequately measured, and prior-
ities are established more often on a political basis than in a framework
of effective investment in a jurisdiction's capital plant.
Many of these problems should be addressed by state and local gov-
ernments, regardless of federal infrastructure policy. Their resolution could
be facilitated, however, and the uncertainties of the bond market and of
federal assistance, which are well beyond state and local control, could
be ameliorated by establishing a national infrastructure bank linked to
similar banks at the state level (Peterson, 19841.~6
An infrastructure bank could be capitalized by consolidating current
capital grant programs and issuing Treasury bonds. Such an approach
should be preferred over a new block grant because it offers a long-term
commitment to a long-term problem. Instead of making direct grants to
jurisdictions, it could lend, refinance, or guarantee loans from the state
infrastructure banks for part of the cost of projects. Loans tend to impose
a tighter discipline than grants; since they must be repaid, they require
more careful attention to such matters as maintenance and user-fee fi-
nancing, when that is feasible. This approach would reintroduce long-
term stability to the financing of public facilities and permit better long-
term capital planning. The bank could provide, first, a source of capital
that could enable urban areas to catch up with their backlog of facility
needs. Second, the bank could use its considerable leverage as a lender
and its technical expertise to bring about needed institutional reforms,
]6 Governor Thomas Kean of New Jersey has proposed such a state infrastructure bank.
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Rethinking Urban Policy
such as restructuring financial management systems, requiring loan re-
cipients to develop programs for regularly assessing the condition of their
facilities, developing long-range capital programs, and improving and
adequately funding facility operations. The latter could include require-
ments that appropriate revenue-producing facilities recover full user costs
and that loan recipients establish depreciation accounts sufficient to meet
or at least substantially offset the eventual replacement costs incurred
when a facility wears out. Such accounts could help prevent future crises
in facility financing. In many respects, leverage for strengthening state
and local institutional capacity for financing and managing public facilities
is more important to the long-term quality of infrastructure, and to urban
economic development, than any one-time infusion of capital (Peterson,
Setting Priorities for Investment in Public Facilities
One of the recurring criticisms of federal programs in support of urban
public works is that they distort local priorities because of the varying
amounts of money available for different programs and because some
programs have more favorable ratios of federal-to-local support than oth-
ers. Consequently, it is argued, local and state governments tend to "need?'
what the federal government will finance with the least local matching
contribution. In addition, there are few federal programs that provide any
support for the operation and maintenance of the highly sophisticated
facilities that are built with federal funds. Thus a bargain in facility con-
struction often becomes a burden to operate for the jurisdiction or for its
The consolidation of all urban public facilities grants programs into a
single national infrastructure bank would permit state and local govern-
ments to draw on it to help support their own capital improvements pro-
grams to aid the economic transformation of a community. Loans could
encompass major maintenance and replacement programs that properly
should be financed through long-term debt. Before grants or loans from
the fund are approved, there should be assurances that a jurisdiction has
a long-range capital budget and a plan for financing the operation of the
facility. The proportion of the program financed by the federal bank could
be related to the fiscal capacity of the jurisdiction to finance its capital
debt in the context of its overall fiscal condition.
Peterson (1984) has estimated that a national infrastructure bank cap-
italized initially at $20 billion could provide the leverage and stability
needed to help the nation's urban areas catch up with their public facility
investments. The determination of how much capital to make available
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Investing Private and Public Capital in the Urban Future 91
can be made only in the context of all other federal budget commitments.
It seems clear, however, that there is a growing perception of a crisis in
urban infrastructure and that existing levels of expenditure by all levels
of government will need to be increased.
One important reason for increasing the level of national financing for
urban public facilities is to accelerate the process of economic transition
and to help cities equip themselves with the basic public systems appro-
priate for their functions. In a number of older cities where the economy
is contracting, this may mean closing down rather than replacing obsolete
parts of their infrastructure, mothballing excess capacity, and enhancing
the capacity and performance of parts of the system that support growing
and developing sectors and neighborhoods. Growing urban areas may need
to create new systems or enhance existing facilities. In newly developing
urban areas, the economic functions being performed may not require total
re-creation of all the large-scale integrated systems that have characterized
municipal engineering for the last 90 to 100 years. Smaller systems may
be more appropriate for some new patterns of urban settlement and de-
velopment. In other cases it may be possible to substitute management
strategies for new capital improvements.
Using Economic Leverage
The objective of urban economic development policy is to strengthen
the local economy, which usually means diversification and adjustment
toward more economically competitive activities. The basic technique for
achieving that objective is leverage using available resources and pol-
icies to facilitate higher levels of private investment in those activities
than would otherwise occur. The federal government can exercise some
of this leverage through more careful formulation of its economic policies
and through the creation of banks that wholesale leverage capital for public
and private investments in urban areas. The ultimate effectiveness of such
leverage, however, depends on how state and local governments use the
leverage capital available to them.
Using Capital and Maintenance Budgets
Both state and local governments should recognize the importance of
their capital and maintenance budgets to their economic strategies. It is
their transportation systems, water and sewerage systems, parks, and other
amenities that influence the specific location of private capital investments.
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Rethinking Urban Policy
Public facilities can be used to influence the location of employment
centers. A few states and localities have begun to make deliberate use of
them in this manner, both to encourage economic development in places
where it can best assist in meeting economic development objectives and
as a means of containing public costs.'7 A number of states notably
California, Florida, and Oregon as well as many local governments have
used public facilities as a major growth management tool that favored
urban over rural areas by denying urban infrastructure to the latter. A
jurisdiction may stage the development process by scheduling the exten-
sion of facilities to particular areas. Not only is the presence of facilities
important, but the level of service is also critical to future investment
decisions by private business (Federal Reserve Bank of New York, 19811.~8
Using Joint Development Techniques
Infrastructure can be used as part of a package in joint development
projects to improve an area's attractiveness to investors. This strategy is
particularly appropriate for transit and parking facilities that are integrated
into a project but financed with public bonds rather than at commercial
interest rates. In addition, such facilities may qualify for federal grants or
may involve land or air rights that can be used to reduce private front-
end costs. In such cases the land and facilities may be used as investments,
the government retaining an equity interest through a limited partnership;
the land may be leased to the developer, cutting development costs and
providing larger future revenues than would be obtained through taxation
of the project; or the land may be sold below market price, recovering
the revenue conceded in the sale through later appreciation in the value
of the property (Gladstone Associates, 19784.
For these kinds of leveraging arrangements to be possible, the states'
basic enabling laws governing capital programming, condemnation pow-
ers, and land management must be flexible enough to permit state and
local governments to select the most workable techniques for a particular
activity. State law should permit and encourage joint ventures without
specifying the form they must take. This should include authorizing local
|7 For example, the governor of Maryland issued an executive order in June 1982 requiring all
state agencies to relate their facilities programs to support economic development considerations
and to reinforce local development plans (also see Schwartz, 1982).
~8 For example, the Houston Chamber of Commerce estimates that traffic tieups cost Houstonians
$1.9 billion a year. One major company, Diamond-Shamrock Oil, relocated to Dallas, reportedly
because of traffic problems (New York Times, September 28, 1982:A16).
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Investing Private and Public Capital in the Urban Future 93
governments to enter joint ventures as equity partners with private cor-
Land assembly is often essential to successful development, particularly
in the older parts of cities in which ownership has been fragmented,
preventing industrial expansion and the development of attractive designs
for reuse. Some states have broadened their eminent domain doctrines to
include public benefits as well as public purposes, allowing condemnation
of land for resale to private entities for industrial development even though
urban renewal powers are not used. It should also be possible for local
governments to lease publicly owned land or to use their interests in the
land as equity. Either action can have substantial leverage on the profit-
ability of a project that has several options for location in a given met-
ropolitan area.
Avoiding Ineffective Incentives
While greater flexibility is needed in the ability of government to fashion
institutional arrangements to meet the needs of specific projects in order
to carry out overall development strategies, there are disadvantages to
indiscriminate subsidizing of private economic development. Local tax
abatement schemes, for example, have been shown to have little leverage
in actually attracting investment, compared with such other measures as
venture capital, high-quality services, and public facilities. Industrial rev-
enue bonds can provide leverage capital, as can the use of tax increment
financing districts to support service and facility improvements for an
industrial park or business district, but these devices should be used only
when the private investments they supplement or subsidize are likely to
achieve local goals for jobs, tax base growth, and adjustment to new
economic functions.
Indiscriminate use of industrial revenue bonds can put local jurisdictions
into a subsidy-bidding war with each other for investments. Such com-
petition often wastes tax capacity and does not add to the total metropolitan
economy. If industrial revenue bonds can be used to secure investments
that would not otherwise be made, they are valuable tools in economic
development strategy. If they merely work to displace development from
one community to a neighboring one or shift activity from one local
business to another, there is little justification for the federal subsidy of
such bonds.
Careful consideration should be given to limiting the use of all lever-
aging mechanisms to activities that meet the criteria discussed above. This
can avoid their use as props for dying industries or as weapons in inter-
jurisdictional competition for tax base. Such an approach also emphasizes
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Rethinking Urban Policy
the urgent need for states to institute fiscal equalization programs (which
are discussed in Chapter 7) and not only help meet fiscal problems but
also make possible more rational policies with regard to the development
of infrastructure and the location of employment centers in metropolitan
Using Regulations
Reform of development regulations is another aspect of regional and
local policy that deserves some attention. Most systems of regulation have
grown up in response to perceived abuses of public interests by developers.
They are not, therefore, designed to facilitate development or to increase
its economic value but to prevent or ameliorate egregious externalities.
In many communities, investors have come to regard the regulatory process
as capricious, uncertain, and costly.
In reforming the regulatory system, we should remember that major
urban projects increasingly are negotiated between public planning and
development agencies and private developers, rather than approved through
the rigid application of rules. This requires that broad authority be dele-
gated to talented negotiators for both the public and private participants.
It also requires considerable procedural skill in the public review aspects
of the process and an aptitude for balancing conflicting financial, com-
munity, and other interests. There are no formulas for a successful reg-
ulatory system, but there are reasonably clear policy objectives: regularity
in the basis for decisions, a fair process, substantial reductions in the
amount of time it takes to obtain final approval, and opportunity for high-
quality design. Reform of the regulatory process need not mean a lowering
of standards of design or performance. There is now extensive experience
with planned development regulations and performance or incentive zon-
ing demonstrating that a better built environment is possible through a
more flexible regulatory system.
Using Urban Design
Finally, an urban economic development strategy should include a strong
urban design element. While it need not be provided in great detail, a
design concept that establishes an image, theme, or strong idea for future
development can guide and stimulate both public agencies and private
investors to provide the overall scale, amenities, sense of place, linkages,
and sorts of activities that make a place function well as a center of
economic and social life rather than as a sterile collection of buildings
and facilities. Such concepts may need amendment as experience is gath-
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Investing Private and Public Capital in the Urban Future 95
Bred, so that there is plenty of room for alternative designs and ability to
meet changing market conditions.
Design is not only a way of identifying the character of a neighborhood,
a district, or a whole city; it is also an important tool for a realistic
leadership statement on the future of the area or some part of it. Every
major privately initiated urban revitalization effort has worked from a
design concept.
Imaginative and sensitive design can provide the symbolism that is often
needed to mobilize public and financial support. It need not be grand or
costly to have a strong effect on the quality of the environment and hence
its attractiveness to other investors. The innovative reuse of old buildings,
as in Ghirardelli Square or Faneuil Hall, can do a great deal to change
the character of a much larger area. A new project, such as Baltimore's
Harbor Place or Nicolet Mall in Minneapolis, illustrates how good design
can play a critical role in reorienting the city's self-image and can con-
tribute to its economic transformation. Attention to neighborhood design,
the streetscape, pedestrian spaces, and the linkages between business dis-
tricts, cultural facilities, and other features of a city or region can make
a difference in the kind of investment climate that is created.
Good urban design is functional. It is not abstract but practical and
facilitates the functions that the city intends to perform. As we know more
about modern services, for example, it should be possible to design places
in which they can operate efficiently and comfortably. As capital becomes
less constrained, convenience and amenity can be powerful competitive
The design process is an exercise in policy informed by technology and
art. It is important to develop urban design ideas through a process of
consultation and legitimization so that they reflect values important to the
community. And it is also important to leave room in designs for adjust-
ments the market may find it necessary to make.
The framework that we have outlined for capital investment in the urban
future is flexible. It does not depend on any given level of federal? state,
or local spending or other activity. It seeks only to identify basic consid-
erations that could help urban areas make the transition from old economic
patterns to the assumption of new roles in an advanced economy. Clearly
the level of resources devoted to urban development is important. The
less there is, the more important it is to have a clear strategy for using
what is available as effectively as possible. For some things, of course,
there must be sufficient resources or the job should not even be undertaken.
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96 Rethinking Urban Policy
Stripped to its essentials, this framework suggests that public policies
be aware of their effects on the sectors of the economy. National economic
policy should consciously encourage those sectors that the market has
shown a tendency to favor or that have prospects of being strong com-
petitors. A more competitive national economy should result. Successful
sectoral policy, however, could have serious adverse effects in some urban
areas because of the way in which our economic activities and labor force
are geographically distributed. We therefore need parallel policies that
encourage a flow of capital to urban areas for investment in their more
promising sectors and to help them attract such activities. By acting as a
wholesaler rather than a retailer of such capital, the federal government
can avoid the rigidities of past urban capital programs and leave enough
flexibility for local leadership to tailor investment strategies to its special
Finally, an important element of capital investment strategy is a policy
to ensure the development of a national system of infrastructure that can
attract, support, and serve an advanced economy. This does not demand
that the federal government directly finance all of the needed improvements
in national and nationally related urban public facilities. It does mean that
the federal government must pursue policies that ensure that someone
builds and maintains them. State and local decision makers should devise
means of using the resources and powers at their disposal, from whatever
source, in a manner that gives them as much leverage as possible on
private capital investment.
These policies, pursued alone, would seldom neutralize and would often
accelerate the trend toward a sharp division between rich towns and poor
towns. In an economically advanced nation, it is neither equitable, effi-
c1enl, nor politically prudent to pursue polices that leave some areas
lagging so far behind that they operate as a drag on the whole economy.
In later chapters we discuss options for stabilization policies, actions to
foster the development of strong local institutions to manage the transition
of local economies, equalization of fiscal capacities among state and local
governments, and other strategies to help the less resilient areas and their
people adjust to an advanced economy in a positive way and to accelerate
that transition.
Thus far we have dealt primarily with investments in physical capital.
As our discussion of what is happening to our cities strongly suggests,
investment in human capital is of equal if not more importance for the
future of America's urban economy. We turn in Chapter 6 to strategies
for addressing that issue.


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John Angus
Dearborn, MI - United States
John Angus
Member Since: 12/02/2012
I am someone who did not develop as a photographer until later in life, just a snapper before that. While taking a photography course at a local community college the tutor, Tony Gomez opened my eyes to the world around us and the light we all look for came on.
This is my art form and I enjoy every aspect of it, from being out taking the pictures, through processing to seeing the final print.
There is beauty all around us and we just have to look to find it, sometimes in the most unlikely places.


text:
A collection of news and information related to Dateline NBC (tv program) published by this site and its partners.
Top Dateline NBC (tv program) Articles
Displaying items 56-66
This weekend: NBA All-Star Game, Daytona 500, Oscars, 'The Walking Dead'
Story | Feb 24, 2012 | 4:45 PMIf you don't want the Oscars, you have other options Sunday: A new episode of "The Walking Dead" at 9 on AMC. Or "The Amazing Race" at 8 on CBS. Or "The Celebrity Apprentice" at 9 on NBC. Or "Luck" at 9 on HBO. TCM has decided to throw Bette Davis against... -
Jose Baez tells HLN: Gary Giordano has a different lifestyle
Story | Dec 1, 2011 | 9:40 PM"That has absolutely nothing to do with Robyn and Gary," Baez said. "To bring out the mud -- everyone has a past, everybody's done things that they're not proud of. To try and bring that up as some kind of reason why he would murder a friend of his is... -
Friday's Highlights: 'Great Performances: The Little Mermaid From San Francisco Ballet' on KOCE
Story | Dec 15, 2011 | 9:36 PMClick here to download TV listings for the week of Dec. 11 - 17 in PDF format TV listings for the week of Dec. 11 - 17 in PDF format are also available at latimes.com/entertainment/news/tv Weekly TV Listings and more...... -
CBS wins with 'Blue Bloods'; what do 'Grimm' ratings mean?
Story | Nov 5, 2011 | 4:40 PMIn Orlando, the top shows were "Blue Bloods" with 170,200 viewers, "CSI: NY" with 130,800, "A Gifted Man" with 110,300, "Grimm" with 95,600 and "The O'Reilly Factor" on Fox News Channel with 80,400.... -
'Blue Bloods' lifts CBS; Cotton Bowl helps Fox
Story | Jan 7, 2012 | 4:41 PMThe Orlando Magic had 113,000 viewers across two channels, according to the early ratings. The ESPN coverage drew nearly 81,000 viewers, and the Sun Sports telecast pulled in 32,000. The Magic lost to the Chicago Bulls, 97-83. The Cotton Bowl delivered... -
NBC unveils midseason schedule, 'Community' and 'Prime Suspect' on bench
Story | Nov 14, 2011 | 4:36 PMNBC has unveiled its midseason schedule, which adds four new series and shakes up much of the lineup while benching the struggling "Community" and "Prime Suspect."... -
Tim Tebow, Broncos score in Sunday ratings
Story | Jan 9, 2012 | 4:42 PMPreliminary national ratings show the Wild Card playoff game averaged 41.9 million viewers in the 7 p.m. hour.... -
'Blue Bloods,' 'CSI: NY' deliver for CBS
Story | Nov 12, 2011 | 4:40 PMThis post has been updated: The winners in the Friday ratings race were familiar series. "Blue Bloods" and "CSI: NY" kept CBS on top for the night in total viewers as well as the 18-to-49 age group. "Blue Bloods" with... -
NBC unveils midseason lineup, shifts 'Harry's Law,' 'Up All Night'
Story | Nov 14, 2011 | 4:40 PMThe other new series are "The Firm," an adaptation of the Tom Cruise movie; "Fashion Star," a reality competition hosted by executive producer Elle Macpherson; and the comedy "Are You There, Chelsea?"... -
'Extreme Makeover: Home Edition' helps ABC tie CBS
Story | Jan 14, 2012 | 4:40 PM"Extreme Makeover: Home Edition," which ended its ABC run Friday night, went out a winner in one respect. The reality show, which visited Joplin, Mo., in the two-hour finale, didn't have the most viewers in its time slot. CBS did better with... -
Orlando Magic, Los Angeles Lakers win local ratings race
Story | Jan 21, 2012 | 4:40 PMThe Magic game was also first with the 25-to-54 age group. Fox's "Kitchen Nightmares" was second in that count, and "20/20" was third....


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Archive for October, 2010
Some killer Code
Thursday, October 21st, 2010Scariest movie when I was a kid
Thursday, October 21st, 2010More uses for baking soda, the pesticide use and wash is interesting
Thursday, October 21st, 2010Easy, effective wash for fresh produce to protect against foodborne bacteria and pesticide residue. The powdery quality of baking soda makes it useful as a gentle scrub for fruits and vegetables, and its especially effective for fruit such as pears and apples that you may want to eat raw without peeling. How to use it: Shake some dry baking soda into your hands, rub it over the fruit and then rinse off under your kitchen faucet.
Safe insect repellent to keep ants, cockroaches and other undesirable critters from your kitchen cabinets. Place jar lids filled with water (for the insects to drink) and sprinkle baking soda (for them to eat) nearby on the bottoms of cabinets and under the sink. The chemical reaction of the two together kills the ants. Theres an outdoor version, too — combine a teaspoon of baking soda with one-third of a cup of cooking oil… shake well in a watering can then sprinkle the mixture lightly on plants.
Relief from stinging and itching. If a bee or other insect stings you, make a paste of baking soda and water (aim for the consistency of toothpaste) and rub onto the site — youll find that the pain subsides quickly. The reason it works: The baking soda neutralizes the toxins that trigger the pain along with some of the reactive compounds produced in the affected tissue. This paste also is useful in soothing itching from bites by mosquitoes and other insects, as well as for rashes, hives and even poison ivy.
To soothe an upset stomach after a large or troublesome meal. If you cant get your stomach to quiet down after eating something that disagrees with you (or when youve eaten too much), try completely dissolving one-half teaspoon of baking soda in four ounces of water. This is essentially the same compound that your stomach produces to neutralize stomach acid. There are some important caveats: Dont take within two hours of medications (especially tetracycline, which is used to treat bacterial infections), and dont take with large amounts of milk (it increases the likelihood of allergic reaction). Dont use this remedy if you are on a sodium-restricted diet for high blood pressure. And, since frequent gastritis and heartburn can be signs of more serious issues, including heart disease, dont rely on this remedy more than once in a while. If you are having regular digestive difficulties, see your doctor.
As an underarm deodorant. You can pat a bit of baking soda onto each armpit after a morning shower, just like an old-fashioned dusting powder. While this wont stop you from sweating, it will diminish the unpleasant odor. Not only is this far less expensive than commercial deodorants, its also perfectly safe. Antiperspirants actually plug the sweat glands, and some people think this may cause cancer. (See Daily Health News, April 15, 2010, "The Antiperspirant-Cancer Connection.") Along the same lines, you also can use baking soda as a foot deodorant — just sprinkle a bit on your feet or in your shoes.
As an exfoliant. Baking soda is a gentle and effective exfoliant that almost all skin types can tolerate and only rarely causes an allergic reaction — its a good way to clean and open pores, diminishing whiteheads and clearing oily skin.To remove dead cells on the outer layer of skin, splash some water on your face… put some baking soda into the palm of your hand… and gently rub on the baking soda, using circular motions. Rinse.
And a final tip — baking soda is baking soda, so you can save money by purchasing a store brand instead of the better-known national ones. Not that theyre expensive either, but now that you know about all these nifty uses, you just might find that youre going through a lot more baking soda than before.
Vicki Lansky, author of more than two dozen books on parenting and household management, lives in Minnetonka, Minnesota. Her Web site is www.PracticalParenting.com or go to www.BookPeddlers.com/BP.BSoda.html for more information on her book on baking soda.
Puzzles that required computer solutions
Wednesday, October 20th, 2010Long-time Dr . Dobbs readers may remember
Dr. Eccos Omniheurist Corner
where Professor Dennis Shasha posed
puzzles that required computer solutions.
Dennis is returning to Dr. Dobbs, but with
a new twist on puzzles. The idea is to take
inspiration from the challenging apps that
readers have faced and to turn those into
If you have written an application that
required extensive use of heuristics
(because no algorithm would solve it) or
that is otherwise algorithmically interesting,
please send mail to Dennis at
firstname.lastname@example.com. Put Tough Apps in the
subject line. If Dennis likes it, he will contact
you. Then he will try to understand what youve
done and create a puzzle explaining the algorithmic
core. You will write a little blurb about yourself
and the problem if you want.
An empty hotel room represents a lost opportunity
to the hotel owner. The marginal cost of
cleaning a room is minimal compared to the fixed
cost of the personnel, rent, and so on. So, the
hotel has every interest in filling all its rooms.
Clever travellers and entrepreneurs can take
advantage of this by waiting until the last minute
to buy cheap rooms. Of course, they run the risk
that they may not sleep anywhere. The result is a
game. Lets work up to the game in stages. It will
lead us to strange and amoral places, I promise.
Suppose you have the only hotel
in town. You have three rooms free for tonight.
You know from history that there will be one visitor
who is willing to spend $300 per night,
another at $200 per night, and one at $100 per
night. Well abbreviate this demand profile to 1 @
$300, 1 @ $200, 1 @ $100. If you have to give the
same price to all comers, what should you set
your price to be?
$200 you get
$400 and leave one room empty. A recurrent
theme in this puzzle is that charging the same
price to everyone in the service of fairness results
in empty hotel rooms and roomless travellers.
Suppose there are two hotels next to one
another of the same quality and the demand is
twice that before, i.e. 2 @ $300, 2 @ $200, 2 @
$100. Now if your hotel sets the price at $200, the
other hotel can set the price at, say, $180 and get
three guests out of the four. You get only $200.
If you dont know how much the
other hotel will charge, then what can you guarantee
to obtain?
Solution to Warm-Up 2: If your hotel charges
$133 and the other charges more, then you will
fill your three rooms and get $399. On the other
hand, if the other hotel also charges less but more
than $100, then you will get only $133. So, if you
charge $100, you will guarantee an income of
$300. If the other hotel reasons the same way,
then there will be six rooms for six travellers,
each costing $100 per night. Note how much better
this is for consumers.
Warm-Up 3: The hotel owners approach anagent to set room prices for both of them. They
agree to give the agent a portion of any extra profit they would
make beyond the $300 they can already get.
Solution to Warm-Up 3: If the agent sets prices at $200 per
room instead of $100, then each hotels profits will increase to
$400 (less the agents commission) while leaving two travelers
without rooms. This is why a single agent (whether online or not)
can be as bad for consumers as a hotel monopoly.
Now Its Your Turn
1. Suppose you have the only hotel in town and it has six rooms.
The general problem is, given a demand profile and a certain number
of rooms, try to find the price per room that will maximize
hotel profits if you control all the rooms in a town. If the demand
profile is x @ $300, y @ $200, and z @ $100, for which positive
values of x, y, and z would you set the price for your six rooms at
$300, for which positive values would you set the price at $200,
and for which at $100?
2. If you control all the rooms in town, is there ever any profitmaximization
reason to charge $250, given the above demand profile?
Why or why not?
3. Suppose there are two virtually identical hotels on the same
block each having three rooms, but you control the rooms of only
one and the demand profile is again x @ $300, y @ $200, and z @
$100. For which x, y, and z values would you charge $200 to guarantee
as much revenue as possible? For which x, y, z would you
charge $300?
4. Staying in the two hotel scenario, for which x, y, z would you
charge something strictly between $200 and $300 in your hotel
(assuming you dont know what the other hotel charges)? What if
you did know the other hotels prices and customers would always
compare prices before taking a room?
5. Loyalty programs and other perks may direct customers your
way. Suppose that your perks program can convince all travelers to
come to your hotel first. Each traveler will take a room in your
hotel if you charge what he or she is willing to pay. As usual, there
are six travelers altogether, where x travelers will be willing to pay
$300, y @ $200, and z @ $100. How should you set your prices as
a function of x, y, and z? How should your competitor set prices?
6. As you can see, the pricing power of the hotel owner depends as
much on consumer behavior (whether consumers compare prices)
as on monopoly power, either gained directly or through an agent.
Do you see any general pattern?
1. If x >= 3 and y <= 4, then setting the price at $300 is best for the
hotels, though only x people will get rooms. Otherwise, if x + y >=
3, then charge $200 to get $800 for the two hotels. Otherwise, set
the hotel prices to $100.
2. No. You capture no more customers than if you set the price to
$300 and receive less revenue.
3. We already saw in the Warm-Ups that you would charge $100 if
x = y = z = 2 to guarantee at least $300 in revenue. Any other price
would give a lesser guarantee (though the possibility of more). If x
>= 5, then each hotel may as well charge $300 as each will get at
least two customers at that price. If x <= 4 and x + y >= 5, then
$200 is the best price (because charging $300 would guarantee you
only one customer and charging $200 gurantees at least two).
4. There are no x, y, z for which it is worthwhile to charge something
between $200 and $300 unless you know the prices of the
other. If, on the other hand, you knew the other hotel was charging
$300 and x = 3 and y = 5, then you could charge say $280 and
get all the $300 customers.
5. If x >= 3, then a price of $300 will guaranteee $900. If x + y >=
2, then $200 will guarantee $600. Your competitor cant charge
even $200 unless x + y >= 5.
6. With monopoly power, you know all customers will come to
you, so you can set the price through direct calculation. In a competitive
market, you have to assume the worst case. If you can convince
customers to come to you first, then you can charge the most
per room.


text:
Free schools are supposed to be an expression of people power, but how will they work when local people are against the plans?
Questioning Michael Gove on his Education Bill a week ago I found out that Hammersmith & Fulham was to be blessed with not two but three free schools. Only one of these schools, ARK Conway Primary, is anywhere near getting its application to the Government for funds in order.
The West London Free School, is proving controversial not least because it is ousting 22 charities and a school for severely disabled children in its rush to open.
However, less well known, is the latest edition to H&F's free school experiment – the Rivendale Free School, which intends to take over the small health centre on Milson Road.
It was only when local parents and residents in the area contacted me last week, and came to my surgery that I found out the plan to close the health centre and open the new school by this Autumn.
There are many problems that have been identified with putting a school in this location. Perhaps the biggest problem is that there is so little space for a school here, that they're putting the children's playground on the roof!
The proposals are being so hastily rushed through that pupils are being enrolled before the school has the either the money or the permission to go ahead, and when they haven't even finished consulting on whether they should have the school at all.
One local parent expressed their outrage about this, "The information put out by them is so overconfident that it begs the question of a foregone conclusion resulting from the'consultation'. And it is interesting to note that of the people I have spoken to, nobody on Masbro, Milson, Bolingbroke, Addison Gardens or even Minford Gardens (the office of the Rivendale) knew the consultation was in process."
Local parents and residents left the free school's owners in no doubt about what they think of the proposals at a meeting on Tuesday night at the Masbro Centre. The hall was full of people protesting that they don't want the school in the area, not least because of the three very good schools already in place have adequate places for demand for the foreseeable future. See the link to their website here.
In its prospectus the free school says that it will compete with local primary schools with the effect of taking away money and other resources from them. Understandably the parents at Addison and Lena Gardens are up in arms about this.
Elsewhere, the ARK Conway Free School in Wormholt is under attack from local residents for the disruptive effect it will have in its equally inappropriate site.
Free schools are supposed to be about 'Parent Power' in action. So if the parents don't want them how else will you sell them Mr Gove?


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Will Maria Bartiromo's New FOX Show Work? - Mike Swanson (03/10/2014)
By Mike Swanson on Sun, 03/09/2014 - 12:31Maria Bartiromo left CNBC several months ago. You may be wondering where she has gone. Well she left to sign a contract for FOX Business and just launched a new morning show there a few weeks ago.


text:
Found May 06, 2013 on
FF Locker Room:
The Los Angeles Dodgers have placed short stop Hanley Ramirez on the 15-day disabled list with a left hamstring strain that was suffered just a few games into his return to game action. Having hit close to a .500 clip since his return, this is yet another prominent injury setback for the unfortunate Dodgers this season. Los Angeles has called up short stop Dee Gordon to take his place on the active roster.
The post Dodgers Place Hanley Ramirez On Disabled List With Hamstring Strain appeared first on FFLockerRoom | NFL - MLB News | Fantasy Sports Advice | Sports Talk.
Original Story:
Dodgers' Ramirez on DL with strained hamstring
Trade With Cardboard Heaven: A Zack Greinke Royal Trifecta and Matt Kemp Goes Out of Bounds.
Matt Kemp Literally Gives Fan the Shirt Off His Back
Prospect Video: Yasiel Puig
Video: Matt Kemp gives away hat, jersey, shoes to lucky fan
Los Angeles Dodgers Activate Clayton Kershaw, Disable Ted Lilly
Matt Kemp hands disabled fan autographed ball, jersey and shoes
Matt Kemp Is The Type of Pro Athlete Every Athlete Should Aspire To Be.
Video: Matt Kemp suprises fan with his jersey, hat, and autographed baseball
Matt Kemp Gives Hat, Jersey & Shoes To Sick Fan
Tony Gwynn Jr. And The Heckler
Dee Gordon's return may ease Dodgers' infield struggles
Los Angeles Dodgers manager thinks losing is winning
The Dodgers and Giants have played each other very close through the years.
Diamondbacks-Dodgers Preview
MLB Forum Discussions
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Beyoncé Debuts More Sequin Nipples On Night #2 Of Mrs. Carter Tour
Because why have just the one leotard?
Because why have just the one leotard?
Alex Rees 10 months ago 34 responses
BuzzFeed is currently working with select partners to help them track what's hot on their sites using the same advanced social tracking and analytics tools used on BuzzFeed.com.
If you're interested, contact us at email@example.com.


text:
Fitz reopens 17 days after river's crest
The Fitz Casino & Hotel Tunica reopened May 27, four weeks after projected Mississippi River flooding caused a mandatory closing of all area casinos. The river crested May 10 at 47.8 feet (at Memphis).
"Our team members worked hard to keep the flood waters at bay and secure the casino from flooding," said general manager Chuck Miller. "We filled and stacked sandbags and built temporary dams and water barriers to protect it. The water came just inches from the doors, but we held strong and didn't let it in."
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