And They Say American Football is Violent?

From Brazil: [bold added]

SAO PAULO (AP) — Police say enraged spectators invaded a football field, stoned the referee to death and quartered his body after he stabbed a player to death.....Local news media say the spectators also decapitated Silva and stuck his head on a stake in the middle of the field.

They probably don't have rules against "hitting above the shoulders" like they do here in the States.

It Could Have Been Much Worse

All passengers were evacuated (Mercury News photo)

Little solace to the families of the two dead and the dozens critically injured, but the crash of an Asiana 777 at SFO could have been much, much worse.

Two grim firsts:

It was the first fatality involving a passenger aircraft at SFO since 1953 (1964 if one counts cargo airplanes).

It was the first passenger fatality recorded for the Boeing 777, which was introduced in 1995.

The triple-7 was regarded as a huge risk for Boeing because cutting-edge technology was used in its design, manufacture, and operations: the revolutionary giant twin engines (not a "derivative" of previous models), the exclusive reliance on computer-aided design, the fly-by-wire instead of mechanical controls, and the use of composite materials in its construction. The airplane has proved to be a spectacular commercial success and had a stellar safety record...until today. Here's hoping that the NTSB investigation does not reveal serious problems with the aircraft. © 2013 Stephen Yuen

Wisdom from Warren

Warren Buffett in 1999:

It's a huge structural advantage not to have a lot of money. I think I could make you 50% a year on $1 million. No, I know I could. I guarantee that.

Comments:

1) Let's feel sorry for Warren Buffett for having so much money that he can't make the returns that he made when younger.

2) Never having achieved 50% returns, we are interested in buying Warren Buffett's advice. Unfortunately, the price tag depletes/obliterates our nest egg.

3) Come to think of it, maybe we should pay him: if having only $1 million is a "huge structural advantage", a stake of only $500,000 or $100,000 should enable us to wipe the floor with Mr. Market.

The Minutes Before the Fireworks

Toward Ryan Park and the Metro Center, from the Beach Park Bridge

Happy July 4th!

Party On

Fireworks for sale at Don Quijote market.

In Hawaii New Year's Eve has always been the principal fireworks holiday.

Everyone participated. As a 4-year old I waved my first sparklers, creating a figure-8 with the blue trail. The older boys threw cracker balls, trying to make each other jump. The men and women lit a few cherry packs ritualistically, then went back inside to enjoy food, drink, and conversation.

At midnight the patriarch of the family, then my grandfather and now my father, lit a string of 10,000 firecrackers hoisted on a ladder. Many of the other families in the neighborhood were doing the same, and the din was earsplitting. After watching for a few minutes, I would go inside to get away the noise and smoke.

July 4th in Hawaii has become a second fireworks holiday, mainly due to commercialization. Although the meaning of Independence Day is quite different in the Islands (where some believe that "independence" was forcibly taken away by the United States at the end of the 19th century), for most people the desire to have a good time overwhelms historical misgivings.

Party on. © 2013 Stephen Yuen

Too Much Power

San Bruno station is shuttered during the strike

Diversification isn't just a desirable attribute of investment portfolios, it's a fundament of capitalism. If purchasers of goods or services are too reliant on one supplier, purchasers are vulnerable to supply disruptions, price hikes, unfavorable contract renegotiations, and other characteristics of monopolies.

"Natural" monopolies, such as public utilities that have no competition because of their economies of scale, are regulated by the government. When the government operates the monopoly, consumers are for the most part helpless.

For thousands of commuters Bay Area Rapid Transportation (BART) trains are the only transit method. Alternative transportation--including driving--from the East Bay to San Francisco is costly and can be much slower. That is why the BART strike, which began Monday, is so devastating. It's also dysfunctional (bold added):

BART's labor stoppage is polluting the air, wasting commuters' time and, at least by one estimate, costing the overall Bay Area economy $73 million per day.

The most public sticking points that led to the strike have been raises and pension contributions, a dispute that is separated by $17.53 million a year.

When the monopolist sneezes, everyone catches cold---a cautionary tale about granting any entity, public or private, too much power over everyone's lives.
© 2013 Stephen Yuen
[Update - 7/5/13: trains will resume service for 30 days as management and unions attempt to reach a deal.]

JJ Bistro and French Pastry

Lobster pasta---one of the entrées on
 that day's $29 prix fixe menu

After a steady diet of sushi, plate lunches, Korean, and Chinese food, a little Continental cuisine is just what the gourmand palate (most certainly not what the doctor) ordered.

JJ Bistro and French Pastry is a reasonably priced French restaurant in Kaimuki. The evening coincided with the expiration of a Groupon promotion; the restaurant was packed, and I had to park across the street. Nevertheless, we were seated within 15 minutes.

Three-appetizer plate

Bisque

We had to wait for the waitress to take our order, but after she did so the dishes arrived promptly. The salad greens were very fresh, and none of the appetizers or entrées--even those with cream--had a heavy touch.

Desserts are selected from the counter near the entrance (JJ has a thriving take-out business). We made our selection, which was taken home to be enjoyed the next day.

JJ Bistro has become one of our essential stops due to a family member's fondness for their pastry. O, the sacrifices we make for love. © 2013 Stephen Yuen

© 2013 Stephen Yuen