It has been confirmed that Conde Nast, owner of Wired and other magazines, acquired Boston-based Reddit earlier this morning, and will make the announcement later today. All four reddit employees will relocate to Wired’s San Francisco office. This is what I hope happens to me someday. I would be so happy if I could be bought out by a bigger company and be able to retire. With the news of Reddit, I wonder how much longer till Digg gets acquired. It is only a matter of time, since the new dot com buying spree is beginning again. I give them a couple weeks.
read more | digg story
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While I agree that people should be careful about what they post online, I don’t think that employers should be basing all hiring on these postings. When I post online, I make sure to consider the consequences of the posts not just in the short term but the long term as well. According to a recent survey by CareerBuilder, one in four managers now ‘Google’ potential employees and 51% of applications were rejected because of what was found. So by using those stats, it means that around 12.5% of applications were rejcted due to what they had posted online. Online posting could also work the other way; say you wrote a very interesting, insightful article. A prospective employer could infact use that to increase your chances of being hired. The moral of the whole story is, watch what you write online since people can and will read it.
read more | digg story
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The time changed the other day, although for people living in Saskatchewan, the day could pass without anyone noticing. For pretty much everyone else the time was set back one hour. Remember the saying old “Spring forward, Fall back”. The only reason people in Saskatchewan might notice is because their favorite tv shows might not be on at the same time. But it seems like every time change debate grows in Saskatchewan about whether or not we should start to change our clocks. There is a lot of argument and quite a few points brought forward, but it never seems like any progress is made. Some of the funniest excuses are from farmers who say the cows don’t know what time it is and the time change would distrupt their eating patterns. I laugh because the farmer could always feed the animals at a different time if they cared so much. In my opinion, saving daylight in the summer would be nice since the sun is always up way before I get up. It would be nice to move an hour of that into the evening. If the only inconvenience for saving an hour of daylight a day is changing the clocks twice a year, then I’m all for it.
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Emirates Airline cancelled its order and options for 20 Airbus A340 aircraft. This cancellation comes after earlier announcements from Airbus about further delays for the A380 aircraft. Emirates is Airbus’s largest customer with an order of 45 A380 aircraft for a total around $13.5 billion. The A380 is a superjumbo jet, the worlds largest, with a double-decker 555-seat capacity. Emirates doesn’t seem to be satisfied with the delays and can’t really do much. I believe that this cancellation of the A340 was made easier following the delays of the A380. As well, Emirates is supposidly sending an engineering team to Airbus’s manufacturing facilites in Toulouse, France to gather data on how long they estimate the planes will take to construct. My feelings are that Airbus better put on a good show or another 45 airplane deal could very well be cancelled. I wonder what kind of compensation Emirates would have to pay for cancelling such a large order? … $100 million?? Either way, Emirates won’t be able to escape these delays easily.
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Andrew Thomson announced in the legislature that the sales tax for Saskatchewan will be cut from 7% to 5% effective tomorrow. This change is due to the current oil and gas boom that the government is currenly enjoying. This is their way of giving back to the people of the province. This cut moves the sales tax one percent below the old level that it was at before the NDP were re-elected in 2003. The move puts Saskatchewan with the lowest PST in the country besides Alberta which doesn’t have a provincial sales tax. This news comes a little late for myself, having bought a new car two weeks ago; which kind of sucks because that kind of tax break would actually mean a lot to me.
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The Techcrunch blog uncovered an early video of digg. Kevin Rose was presenting the site on The Screen Savers back in December 2004. The reason I found the video interesting is the way in which Kevin was describing the whole thing. He kept talking about the site as if it wasn’t actually his. In reality, Kevin was one of the founding members of the site, and this whole self promotion without letting anyone know its his site seems kind of deceptive. I don’t really know why he wasn’t more upfront with the matter that it was his. Maybe the producers at G4TV wouldn’t have allowed him to show it has they known. Either way, I remember that it wasn’t long after this video that he actually quit G4. Regardless, the video itself shows off a very old version of Digg with a lot less features and an uglier design. Take a look here.
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Industrial and Commerical Bank of China (SHA:601398) stock increased 15% after its first day of trading. The stock raised $21 billion in its initial public offering last week and are the largest bank in China. They have 355,000 employees and $800 billion in assets. They are one strong bank that shouldn’t be going anywhere for a long time. There has been a lot of foreign interest in these Chinese banks due to the expoding growth in their economy. With annual GDP growth of over 10% for the last 7 years or so, you can tell that all forms of business are going to be doing well. While I was in China, I did my banking through the much smaller and more inconvenient China Merchant’s Bank. That was probably a poor choice in a bank since they weren’t as common thus making their ATMs for. I still have my debit card, and there is probably a chance my account might still be open (although with pennies as a balance).
Source – International Herald Tribune
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On October 16, a shopkeeper (Wasek Safrah) at a mini mall in Ossining, NY didn’t like the way an employee at another store parked. He punched the guy’s car causing a dent, then got a forklift and attempted to move the car. He also punched the driver in the mouth. He didn’t succeed in moving the car. The police officer in the article just sounds stupid. “We don’t know what his intention was” — Since the guy wasn’t going to move his car, he was going to move it for him; it makes perfect sense. This guy is a hero in many peoples eyes. How many times have you ever been angry with the way someone parked but didn’t do anything about it. It is too bad that he was arrested on charges of criminal mischief and assault. After hearing about he forklift, I wish the video was on youtube.
Source – CBC
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On Thursday, October 26, 2006 President Bush signed a bill that authorizes the construction of a 700 mile fence on the 2100 mile border with Mexico. The fence itself is to keep illegal Mexican immigrants from entering the USA. The United States for the longest time has had some pretty lax border control and only now are they starting to get tough. Mexico’s President does not support this idea of a fence at all, calling the whole thing “deplorable.” I would have to agree with him. There is not need for a fence to control borders. If people really want to get into the United States, all the fence is going to do is slow them down for a couple minutes. In the past there was also talk from some senators about a similar project for the Canadian border! Now that is ludicrous. If senators think that Canadians are going to try to sneak into the United States to steal jobs they are badly mistaken. If the United States ever decided to put up a wall with Canada, I think Canada should put up a second wall but build it faster and get it up first. Then Canada can control the wall. But, history has taught us a thing or two about putting up walls. They will separate people for a bit, but in the end the wall will come down or just become obsolete. Take for example the Berlin Wall or the Great Wall in China; one wall is destroyed the other is obsolete. The United States should focus its resources on building something useful like new schools for children caught up in their war on terror in the Middle East.
CNN coverage
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WestJet Airlines Ltd (TSE : WJA) has just recorded their best ever third quarter. They had a profit of $52.8 million up from $30.3 in the same period of 2005. They are attributing the increased profits to improved cost efficiency with things from more fuel efficient airplanes, self serve kiosks and web check-ins. The average age for their fleet is only 2.3 years. This alone will help reduce all sorts of costs because of the major expenses involved in the maintenance of airplanes. With newer airplanes also comes better service. All the new airplanes have lcd screens built into the seats for entertaining trips.
Everytime I hear about airlines in the news they are always in financial trouble, but then they release news like this. With news of huge profits, I become skeptical. Why if they are making so much money do they constantly increase the prices of fares? They also add on fuel surcharges when the costs go up but then seem to forget to remove them when the fuel goes back down. I suppose they are a business and their main goal is to make money, but sometimes they should cut the consumers a break… How about a seat sale!!
Source – Calgary Sun
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