Daily Digest 11/10 - China's Problem With Fakes, How Big Oil Left Motorists Stranded After Sandy

Economy

Can the 'American Dream' be reversed in India? (westcoastjan)

More than half of the start ups founded in Silicon valley since 2005 were begun by immigrants to America, with as many as 1 in 3 started by an Indian, according to research from the Kauffman Foundation.

But now a small yet significant group of Americans are leaving their homeland for India.

Iran says repelled unidentified plane from its airspace (westcoastjan)

Earlier on Friday, General Massoud Jazayeri, a senior military commander, said Iranian forces were prepared to respond to any incursion by air, sea or land, without specifically mentioning the drone incident, Fars reported.

On Thursday, U.S. officials said the unarmed Predator drone was in international airspace on November 1 when Iranian warplanes opened fire on it. The aircraft was not hit.

Bedsocks all the rage for cash-strapped BRRRRitons (westcoastjan)

Energy providers have been in the firing line this autumn, accused of exploiting consumer confusion with a difference of over 300 pounds ($480) between the cheapest and most expensive tariffs on the market, according to uSwitch, a price comparison service.

Vancouver pursuing bylaw to bolster Kinder Morgan’s liability (westcoastjan)

Vancouver Mayor Gregor Robertson, whose council has voted to oppose the expansion, said the city will be directly affected by any oil spill and staff are working on a bylaw that will ensure the company has enough liability insurance to cover costs in a worst-case scenario.

'Fine wine' hoard highlights China's problem with fakes (westcoastjan)

Analysts say that 70% of bottles of Chateau Lafite sold in China are fakes. The estate has fought and won six lawsuits against Chinese companies over fine wines.

Kodak bankruptcy ruling: Lessons for business and workers (Tall)

Kodak in a pre-ruling statement said it could not "support continued payment of retiree benefit" even after initiating several cost-reduction actions that included laying off "nearly 4,000 employees this year and exiting or winding down several businesses and the proposed sale of our Personalized Imaging and Document businesses."

Big Data Meets Big Government; It's a Moneyball World Now (adam)

The article explains how the Obama team realized early on that one major weakness to their effectiveness was the existence of too many databases not sharing information between another, similar to the FBI and the CIA prior to 9/11. Once they merged all that data together into one massive system—a “megafile”—all sorts of interesting patterns and predictions could be made by modeling the psychology of everyday Americans across the country.

Jim Rogers: Money Printing Will Run Amok (David B.)

Rogers was quoted as saying that he feels money printing is going to run amok now and that he has had to “invest based on what’s happening and not what he would like”. An Obama victory has many worried that rampant money printing will continue, as the open-ended QE3 from the Fed has been met with much opposition. Still, monetary policy is at the will of the Fed, not Obama. Bernanke’s term does not end for another two years so a Romney victory would likely have had little sway over the current policy.

How Big Oil left motorists stranded at the pumps in Superstorm Sandy (westcoastjan)

Motorists in New York and New Jersey, desperate for gas amid constrained supply and power outages, spent hours in snaking lines waiting for a chance to hit the pumps. But those who rushed to stations bearing the names of the world’s biggest and best known oil companies were the least likely to find fuel.

High Risk Investing - The New Trend in Energy: Interview with Andrew McCarthy (James S.)

Risk perception isn’t what it used to be. Ask the swelling ranks of Canadian junior oil and gas companies braving high-risk venues like Sudan, Iraq and even Yemen.

Calgary-based company plans first U.S. oil sands project (westcoastjan)

“Our current plan is to proceed with the construction of the first phase next year — our first full year of operations. We expect to be in full production in 2014,” Cameron Todd, chief executive of the company, said in an interview. “This will be the first-ever oil sands extraction project commercially built in the United States.”

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