Given that the price of gold is standing around $1000, some people are thinking about gold rush again. This BBC video shows how to pan for the precious metal in California.
The job of panning seems to be very boring. But, according to the reporter, it’s possible for someone to find enough gold that is worth $7000 over a single weekend.
Read the full story.
On September 18th, 2007, the New York Times will stop charging for access to parts of its Web site called TimesSelect and its archives from 1987 to present.
The move comes two years to the day after The Times began the subscription program, TimesSelect, which has charged $49.95 a year, or $7.95 a month, for online access to the work of its columnists and to the newspaper’s archives. TimesSelect has been free to print subscribers to The Times and to some students and educators.
In addition to opening the entire site to all readers, The Times will also make available its archives from 1987 to the present without charge, as well as those from 1851 to 1922, which are in the public domain. There will be charges for some material from the period 1923 to 1986, and some will be free.
Source: Times to Stop Charging for Parts of Its Web Site
The NYT is among a few old-school media companies that continue to operate profitability in the booming Internet age. Many others simply died because their paid-subscription business model failed to bring in profits. I think the NYT’s latest move is within expectation. In today’s world, news change in a lightening speed, people are often reluctant to pay for information if they can get it somewhere else for free.
Remember CNN was charging people for their online news videos. Soon after the rise of YouTube and other video sharing sites, in order to attract more viewers, CNN opens up its online video service free of charge. I think the NYT is in a similar shoe today. Yahoo! and Google continue to push for more news contents to be published on their own sites. The NYT needs to find ways to keep their readers.
The media war in the Internet age continues…
The U.S. Census Bureau recently released the 2005 US census data. The median household income — the point at which half of residents earn more and half earn less — in the US rose sightly faster than inflation in 2005. However, more people are without health insurance — 16% of the US population. Nationwide, one in every 10 people over 25 years old have completed either a master’s or doctorate degree.
The news about more people not able to get adequate health care really bothers me. Health care is one of the most fundamental needs of a human being in a modern society. It kills me to think that it’s a fact that Paris Hilton’s dog gets more health care than some kids living in a poor neighborhood. Who’s fault this is? If people can’t receive health care because they are financially poor, the Government is the one to blame.
I’m quite surprised to see 1 out of 10 people in this country have completed an advanced degree. Not sure what are companies’ expectation these days when hiring new employees. Do they all expect candidates to have at least a master’s degree?
News Source: Independent Record
US Census Bureau Reports:
Recently China’s parliament enacted an updated bankruptcy law that better protects commercial creditors. The new law requires troubling firms to pay their creditors first instead of their workers.
This is a major news. In the past, the communist Chinese government typically gave a higher status to workers and farmers, as oppose to commercial businesses. In this new bankruptcy law, it does exactly the opposite. Creditors first, workers second. The new law brings China more in line with market-based countries such as the US and Japan. In additional, the bill will also permit firms that are struggling financially to request reorganization.
Source: BusinessWeek, BBC News.
