Week 16

Hospital official: James Gandolfini probably died of a heart attack

CNN News
By Ben Brumfield and Livia Borghese
June 20, 2013
http://edition.cnn.com/2013/06/20/showbiz/gandolfini-main/index.html?hpt=hp_t1

Summary:

According to the head of a Rome hospital's emergency department, James Gandolfini probably died of a heart attack. He was traveling in Rome, where he was on vacation and was scheduled to attend the Taormina Film Fest. Though ambulance staff tried to resuscitate him at the hotel, he was already dead when he arrived at the emergency room.

Opinion:

He was known as the actor with a great talent. Importantly, he treated everyone, no matter their title or position, with equal respect. I was so sad because he was a newly married and had a son. The son is too young to be fatherless. I understand how sorrowful and depressing it is to lose someone whom one loves. I feel sorry for his family and pray for them to forget bad things and to have strength to cope with the difficulties.

Week 15

North Korea Postpones Talks With South

The Wall Street Journal
By Jeyup S. Kwaak
June 11, 2013
http://online.wsj.com/article/SB10001424127887324634304578539022876105896.html

Summary:

Few days ago, North Korea surprisingly offered of talks with South, aiming at normalizing commercial projects and potentially reopening the jointly run Kaesung industrial zone. However, North Korea withdrew from talks for Wednesday. An official statement from the Communist North says its neighbor never intended the talks to occur and sought obstacles to cancel the dialogue.

Opinion:

I hoped that talks would help to relieve tensions between two countries; but it did not happen. If North Korea has an open mind to have a conversation, it would benefit North Korea both politically and economically. As I learned in Economics class, transitional countries, changing an economic system from a command economy to a market economy, benefit from the global economy and develop. I hope there will be another opportunity for a conversation.

Week 14

Cheating scandal: SAT canceled for all of South Korea

MSN News
By Michelle McGuinness
May 13, 2013
http://news.msn.com/world/cheating-scandal-sat-canceled-for-all-of-south-korea

Summary:

Some South Korean students who were looking forward to attending American colleges were very surprised because the College Board decided to cancel the scheduled May 4 session of the exam due to allegations of widespread cheating. It’s the first time the SAT test has been called off in an entire country.

Opinion:

Those cheaters shamed all Koreans. This is not the first incident of SAT cheating in South Korea. In 2007, some 900 students who took the exam in January of that year had their scores canceled after an investigation found an unknown number of students had seen at least part of the exam before the test was given. I am very disappointed that things had to turn out this way. I hope this incident will not affect our admission.

Week 13

Florida Shortens Yellow Lights, Red-Light Camera Tickets Surge

The Washington Post
By Richard Read
May 17, 2013
http://www.washingtonpost.com/cars/florida-shortens-yellow-lights-red-light-camera-tickets-surge/2013/05/16/add4df08-be39-11e2-b537-ab47f0325f7c_story.html

Summary:

Florida used to have a law that stated yellow light times be based on the speed limit or the speed at which drivers were actually going, whichever was greater. 10 News found out that the Florida Department of Transportation (FDOT) removed “whichever was greater” from the language of the law, which lead to shorter yellow-light times. The Florida Department of Transportation says that it reaps no financial benefit from red-light cams and had no incentive to trim yellow-light times. red-light cameras generated $100 million for Florida last year, and they're on track to haul in $120 million in 2013.

Opinion:

The Florida Department of Transportation says that it reaps no financial benefit from red-light cams and had no incentive to trim yellow-light times. However, I agree that red-light cameras do make roads safer. It can also contribute to the government revenue. I personally think that curtailing yellow-light times can do just the opposite. Yellow-light actually allows people to be cautious the red-light beforehand.

Week 12

The Worst Unemployment Crisis In Modern History Is Unfolding Right Now

Business Insider
By Matthew Boesler
May 6, 2013
http://www.businessinsider.com/spanish-unemployment-crisis-2013-4#ixzz2Tjtrfm3I

Summary:

At 27.2%, Spain is suffering the worst unemployment rate in modern history. Spain is tied with Greece, and is worse than the approximately 25% unemployment rate that the U.S. saw during The Great Depression. The causes, by now, are familiar — the end of a massive, bubble-fueled construction boom in 2008 led to spiraling unemployment and a deep recession, wreaking havoc on the Spanish economy. And although the country managed to return to marginally positive economic growth in 2010 and 2011, it has since slipped back into recession, and the outlook isn't good.

Opinion: 

The problem is compounded by the fact that Spanish businesses are closing their doors at a record pace. In January, there were even two cases of men who set themselves on fire. At least one of them was reported to have lost his job and was facing financial issues. This is the environment from which those in Spain are actively attempting to escape. During the good years, Spain experienced a swelling population as immigrants came to fill the excess of employment opportunities caused by the Spanish construction boom. However, the population outflow isn't just former immigrants turning into emigrants. As we learned in economics class this week, unemployment brings lots of negative consequences. Spain should recover its economy to expansion.

Week 11

S. Korea's labor productivity growth slows steeply

Maeil Business Newspaper
May 6, 2013
http://vip.mk.co.kr/news/view/21/20/998847.html

Summary:

Labor productivity growth, which has driven the growth of the South Korean economy, has rapidly lost steam. In particular, labor productivity in the service sector has failed to close the gap with advanced economies, and thus the government urgently needs to implement policies to address the issue. Real per-capita gross domestic product (GDP) of Korea increased sevenfold from the level of 1970s to $27,157 ($21,482 in nominal terms) over 2010~2011, the report said. But per-capita GDP growth slowed to 4.4 percent, about one third of the level of 1970s. The report breaks GDP growth down into labor productivity, working hours, employment rate and working-age population growth.

Opinion:

Compared to the United States' labor productivity growth, that of the Korea across sectors averaged 6.0% between 2002 and 2007, below 7.9 percent of the US between 1978 and 1983. In the same comparison, Korea's service industry labor productivity growth showed a relatively smaller gap with Japan's. As I learned in Economics class, productivity plays a significant role in a country's economy. Especially, labor productivity greatly affects the economic growth in a nation. I hope Korea's labor productivity growth will be accelerated. Therefore, its economy can recover and thus rapidly develop.

Week 10

Meet your new $100 bill

CNN

By Emily Jan Fox
April 24, 2013

http://money.cnn.com/2013/04/24/news/economy/new-100-dollar-bill/

Summary:

The Federal Reserve said Wednesday that a newly designed $100 bill would begin circulating in October, more than two years after the initial target date. The $100 bill, a prime target for counterfeiters, will in its new version feature advanced security features such as a blue 3-D ribbon running through the middle and a disappearing image of the Liberty Bell. Benjamin Franklin's face will still be printed off-center on the front of the bill.

Opinion:

This is the fourth time the $100 bill has been redesigned. The major reason why the Federal Reserve made this new $100 bill is to outwit counterfeiters with increasingly sophisticated designs. It improved counterfeiting technology. Korea as well first introduced 50,000 Won bill in 2009 with highly advanced technology to prevent from counterfeiting. Since $100 bill is a prime target for counterfeiters, it should be designed highly sophisticated and complicated. I hope this new $100 bill would decrease the number of counterfeit money.

Week 9

Samsung Galaxy S4 vs HTC One hands-on

Cnet Asia
By Aloysius Low
April 26, 2013
http://asia.cnet.com/samsung-galaxy-s4-vs-htc-one-hands-on-update-62221036.htm

Summary:

It's this year's ultimate prize fight and likely the one you've been waiting for. Announced much earlier, is the flagship handset from HTC, the One. Despite its beautiful hardware and interesting software, the One has been plagued by delays, allowing the latecomer, the Samsung Galaxy S4 to enter the fight at about the same time.

Opinion:

I was waiting for Galaxy S4 to come out for a long time. The S4 feels quite solid this time. And the overall impressive. It looks almost similar to S3 on the front, but it's the rear glossy cover that lets it down. Even though smartphones have interesting software, I personally think that S4 is much better.

Week 8

iPhone slowdown hits Foxconn revenue

CNN News
By Ramy Inocencio
April 11, 2013
http://edition.cnn.com/2013/04/11/business/iphone-slowdown-foxconn-revenue/index.html?hpt=ibu_c2

Summary:

The parent company of Apple's biggest parts supplier, Taiwan-based Hon Hai Precision Industry, also known as Foxconn, had a 19.2% drop in revenue during the first quarter as iPhone orders slowed down faster than expected. Richard Lai, Editor-in-chief for Engadget China, says that increased competition in the smartphone market suggests an over-reliance on Apple behind Foxconn woes. 

Opinion:

This is happened because of high competition in the smartphone market, especially between Samsung and Apple. Actually, Apple is having slower sales compared to Samsung. If they go along the streets now, a lot of people are purchasing a Samsung device more than an Apple device. Many people are getting bored with the iPhone look or frustrated with the iPhone's battery life. On the other hand, Samsung has been offering better battery life and bigger screens. Apple should make an innovative design or item to recover its reputation and to compete with Samsung.

Week 7

National nonprofit wants to double the survival rate of lung cancer by 2022

News-Sentinel.com
By Ellie Bogue
April 3, 2013
http://www.news-sentinel.com/apps/pbcs.dll/article?AID=/20130403/NEWS/130409899/0/FRONTPAGE

Summary:

[Story]
Cathryn Robertson suffered from lung cancer. When she went to her doctor, it was diagnosed as a pulled muscle at first, but she later learned that she had stage four lung cancer. Even though she had never smoked, neither had anyone in her family, she was experiencing that pain. However, there was a family history of cancer. At stage four the cancer had already spread through her body. Her prognosis was terminal, and by age 57 she was dead.

In an effort to come to terms with her mother's death and create something positive out of something so profoundly negative, Kristen Robertson decided to get the word out about lung cancer. She joined Free to Breathe Fort Wayne, part of the nationwide Free to Breathe event series that raises found for the National Lung Cancer Partnership. The National Lung Cancer Partnership advocates research, awareness and change. Free to Breathe in Allen County does grass-roots fundraising for the national nonprofit organization. The local organization held its first fundraising event in Fort Wayne. The national organization wants to double the survival rate for lung cancer patients by 2022. They plan to do this by funding more research, treatment, tumor testing and clinical trials.

Opinion:

Unfortunately, 50 percent of the people diagnosed with lung cancer have a family history or a lifestyle that contributes to the risk, like smoking. However, the other 50 percent of the people who develop lung cancer have no family history, no known environmental hazards. Since lung cancer has very few symptoms until its late stage, it is very difficult to find. The organization is working to make sure information is getting out to patients about treatment options as well as to educate the public about the disease. It also develops additional programs. People can save several lung cancer patients by supporting and fundraising for this national nonprofit organization. This actually helps a lot to increase survival rate. I sincerely hope that many patient can get a proper treatment for their diseases and get lots of supports from the organization.

Week 6

Cyprus gets $13 billion bailout, must crack down on banking

CNN News
By Ben Brumfield
March 16, 2013
http://edition.cnn.com/2013/03/16/world/europe/cyrus-big-bailout/index.html?iref=storysearch

Summary:

Eurozone finance ministers Saturday granted a $13 billion bailout package to Cyprus as it struggles with a bloated financial sector that is threatening the region's economy. It reckoned at €17 billion and seemed likely to impose an undue burden on Cyprus. Official loans on that scale would amount to 95% of Cypriot GDP. The Mediterranean island's banking system has become "fragile" and must be downsized. The Eurogroup said in a statement announcing the 10 billion euro bailout.

Opinion:

I was very shocked that the official loans is very large size that is even relative to the country's GDP. I cannot imagine how enormous amount that is. In practice the main answer will be to support Cyprus's pension funds and domestic banks into financing the government bonds.

Week 5

25,000 US Deaths Linked to Sugary Drinks

abc News
By Katie Moisse
March 20, 2013
http://abcnews.go.com/blogs/health/2013/03/19/25000-us-deaths-linked-to-sugary-drinks/

Summary:

In a study that's sure to shake up the soda ban debate, Harvard researchers have linked the sugary drinks to 180,000 deaths a year worldwide, 25,000 in the United States alone. The study comes one week after a judge blocked New York City Mayor Michael Bloomberg’s proposed ban on super-sized sodas, and one day after Mississippi Gov. Phil Bryant signed a bill preventing municipalities from setting limits on soda and salt content.

Opinion:

I think it is such a serious problem in the United States that can harm people's health. I was very shocked that the sugary drinks is extremely harmful to our health. However, I don't think it is the role of government to micro-regulate citizens' dietary decisions. The responsibility for one's personal health depends on individual choices about a proper diet and appropriate exercise. The government has no reason to worry about what people eat or drink. They need to focus more on important things that will actually fix the country's problems. Due to the regulation, health care and insurance costs might increase. As we learned this week in economics class, government regulation can affect supply. I hope this study would prevent people from drinking sugary drinks.

Week 4

Crude Oil Futures Settle Higher on U.S. Jobs Data

The Wall Street Journal
By David Bird
March 7, 2013
http://online.wsj.com/article/SB10001424127887323628804578345653207763868.html

Summary:

U.S. crude oil futures prices climbed 1.3% to settle at their highest level in a week Thursday on hopes that signs of an improving employment outlook will translate into stronger oil demand. The price of oil rose and briefly topped $92 for the first time this month. Many traders believe that the large supply of oil in the U.S. has kept a lid on prices. Carl Larry, analyst at Oil Outlooks and Opinions said that the key is jobs. The economy will be improved and translate to jobs growth and higher demand for oil.

Opinion:

The market will need to overcome the level in order to continue higher. One important factor will be U.S. strength. After all, there was a stronger than expected jobs number for the month of February, and if there is more hiring going on in the U.S., then it means that there will more than likely be more manufacturing going on, of which there is normally more demand for oil. This week, we learned about demand. Oil is inelastic because their is no substitutes. However, if the price of oil keeps growing, the quantity demanded will eventually decrease. Therefore, the price should be balanced to satisfy the demand. 

Week 3

Some Employers Could Opt Out of Insurance Market, Raising Others' Costs

NYTimes
By Robert Pear
February 17, 2013
http://www.nytimes.com/2013/02/18/us/allure-of-self-insurance-draws-concern-over-costs

Summary:

Federal and state officials and consumer advocates have grown worried that companies with relatively young, healthy employees may opt out of the regular health insurance market to avoid the minimum coverage standards in President Obama's widespread law, a move that could drive up costs for workers at other companies. Companies can avoid many standards in the new law by insuring their own employees, rather than signing up with commercial insurers, because Congress did not want to disrupt self-insurance arrangements that were seen as working well for many large employers.

Opinion:

The new health card law created powerful incentives for smaller employers to self-insure. However, this trend could destabilize small-group insurance markets. It is not clear how many companies have already self-insured in response to the law. In our lecture, insurance is required to protect people from the financial effects of unexpected losses. I strongly believe that employers should provide an insurance coverage for their employees.

Week 2

Park Geun-hye becomes South Korea's first female president

CNN
By CNN Staff
February 26, 2013
http://edition.cnn.com/2013/02/24/world/asia/south-korea-female-president/index.html?iref=allsearch

Summary:

On Monday, Park Geun-hye became South Korea's first female president, pledging to secure South Korea against the threat of an increasingly hostile North Korea at the same time as improving relationships with Pyongyang. In her address, she called for the revival of an economic boom her father, Park Chung-hee, had once overseen and urged North Korea to abandon its nuclear weapons program.

Opinion:

Park Geun-hye made history Monday by becoming South Korea's first female president. Two weeks before her inauguration, North Korea detonated an underground nuclear device, testing her campaign promise to reach out to the North to help end five years of diplomatic silence and high tension on the divided Korean Peninsula under her predecessor, Lee Myung-Bak. North Korea's recent nuclear test is a challenge for her to the survival and future of the Korean people. Ms. Park should manage this serious issue in order to improve the relationship between North and South. Furthermore, the relationship between the United States and South Korea will be important in the economy. I anticipate she will usher in a new era of hope whereby the happiness of each citizen becomes the bedrock of our nation's strength which in turn is shared by and benefits all Koreans.

Week 1

Obama pushes Congress to avoid forced spending cuts

CNN
February 19, 2013
By Jessica Yellin and Tom Cohen
http://edition.cnn.com/2013/02/19/politics/forced-budget-cuts/index.html

Summary:

On Tuesday, President Obama said that forced spending cuts set to take effect March 1 won't grow the economy or create jobs, which he called the top priorities of his administration. He also warned of diminished emergency services, longer airport security lines and other problems if Congress fails to reach agreement on avoiding the harshest impacts of automatic spending cuts. The purpose of the deep cuts to all discretionary programs and the military was to motivate Congress to reach a comprehensive deficit reduction agreement that would replace them. However, such a deal has proved impossible, leading to the imminent application of $85 billion in spending cuts for 2013 and almost $1 trillion over 10 years.

Opinion:

Even though the purpose of the spending cuts was to reach a deficit reduction, I think it is inappropriate. It may cause a lot of problems. If the budgets are cut forcefully, it would affect many business and workers in the US. If they cut budgets on education, teachers will be laid off. If they cut budgets on defense, soldiers won't get their pay. Accordingly, it will decrease the workplace and the economy won't grow. Therefore, spending cuts should be balanced to cope with those problems.