Sunday, September 17, 2006

The Segway Hype

In February 2003, I stated that the hype surrounding the Segway scooter was just that, hype.

At that point in time, due to the company’s inability to actually sell many of the supposed “revolutionary” scooters, Segway was looking to the government in order boost sales, or, in other words, to be a viable business enterprise.

Today I read that Segway is recalling all of the 23,500 scooters manufactured since the product first went to market in 2002.

The Segway scooter is not a revolutionary personal transportation vehicle.  It’s simply a novelty.

Posted by John Venlet on 09/17 at 11:48 AM
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Old Crow Medicine Show

Radley Balko has a review posted on Old Crow Medicine Show’s latest album Big Iron World.

I received the disc a couple of weeks ago, and if you enjoy casting your ear towards a bit of old timey, bluegrass, bluesy, gospel sound, from time to time, Balko’s review is worth a read, and the disc is worth a purchase.

Posted by John Venlet on 09/17 at 11:03 AM
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Oriana Fallaci

I’m sad to see that Oriana Fallaci has passed away.  That woman had fire in her belly.

Times Online Obit

New York Times Obit

Posted by John Venlet on 09/17 at 09:44 AM
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An ARM Full

Karen DeCoster’s recent post, On ARMs, Bullish Know-Nothings, et al, critcized my posted thoughts on Karen’s labeling of ARMs as “evil.”

In her post, Karen notes that much of the ARM market could not exist without the propping up which the government affords the financial markets.  A fact which I do not disagree with.

Be that as it may, and regardless of Karen thinking my thoughts on ARMs, as merely risky financial tools, as being “poorly thought out and very misguided,” I think Karen’s own comments, in her post linked above, support my statement that Karen is erroneous in labeling ARMs as evil.

In my post, Pay Option ARM and Hammered, I stated that the issue, in regards to ARMs, is not that they are evil, but that they are marketed unethically.

...I will offer some insights on what I think is the actual issue with the sale of this loan product to individuals.  A lack of ethics within the mortgage industry, more specifically the subprime/non-conforming loan industry,...

Karen supports this statement in her post when she writes,

Historically, ARMs were financial vehicles created by banks only for their most wealthy and financially sound/responsible clientele.

Karen then reiterates this further into her piece when she writes,

...once a luxury financing alternative that private banks offered to wealthy individuals…

This is what I had to say in my post in regards to whom ARMs were being sold to.

The loan was being sold to individuals on fixed incomes, to individuals in real estate markets known to be stagnant or depreciating, and to individuals who could barely qualify for the minimum monthly payment due at the inception of the mortgage.  Individuals at the most risk for payment default were (are) being sold the riskiest home loan product on the market.

I stand by my words, which follow.

ARMs are not evil, they are simply financial tools.  The issue is the ethics of those pushing the this loan product to those individuals who are least capable of operating the tool.

Posted by John Venlet on 09/17 at 08:36 AM
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Muslim Temper Tantrums

The Pope’s recent speech at the University of Regensburg has precipitated a temper tantrum in the Muslim world akin to a napless, spoiled three year old’s reaction to being told, “No, you can’t have a cookie.”

The speech runs 3,751 words, by my count, and a mere 32 of those words have the Muslims kicking, screaming, attacking churches, and threatening all out war.

The offending portion of the Pope’s speech runs as such,

Show me just what Mohammed brought that was new, and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached.

and is actually a quote from a discourse between a Byzantine emperor and a Persian in the year 1391.

The Pope has issued an apology, natch, wherein he regrets offending the “sensibilities” of the Muslims.  This is like giving a cookie to the temper tantrum throwing three year old just to get the kid to shut up.  Which, of course, just reinforces the behavior being exhibited.

Posted by John Venlet on 09/17 at 07:35 AM
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