WebNotes by Harold Carey

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Archive for January, 2008

Jan
23

Alan Greenspan and the ‘extraordinary half-generation’

Harold Carey on Jan-23-2008

He had great credentials when President Ronald Reagan nominated him to be chief of the Federal Reserve in 1987. Just 69 days into Alan Geenspan’s term, however, the Dow dropped by 508 points and 22 percent (if the stock market average dropped 22 percent today, the Dow would lose about 3,000 points). The financial system was close to a financial panic, but that didn’t happen, not then and not during his five terms as Fed chairman.

In his book The Age of Turbulence, Greenspan says the effect of 9/11 was far different. Not much happened at all. He knew then that the world of a global capitalist economy is more resilient and fast-changing than it was in 1987.

Previous to his tenure, it was assumed that an unemployment rate below 6 percent would trigger inflation. Greenspan believed the New Economy would prevent that. In 1995 and 1996, he convinced the Federal Open Market Committee to leave interest rates low in spite of falling unemployment. He was right. The unemployment rate fell below 4 percent in the 1990s without causing inflation.

Some economists blame the post 9/11 interest rate cuts for cheap money that wound up in the real estate market. Greenspan says the blame lies less with the Fed and more with investors’ demand for high-yielding debt like subprime mortgage bonds.

His 531-page book provides glimpses of his life, including several less well-known aspects. Greenspan started playing the clarinet at age 12 and later studied at Julliard School of Music. He played professionally in the Henry Jerome band in 1944 before deciding on a career in economics. In 1948, he graduated summa cum laude from New York University and later earned a master’s degree and a Ph.D. He co-founded Townsend-Greenspan & Co., an economic consulting firm. In 1974, President Ford named him chairman of Committee on Social Security Reform.

The Age of Turbulence by Alan Greenspan, Penguin Press, 531 pages, $35.

Jan
22

2007 Economic Census

Harold Carey on Jan-22-2008

The economic census measures the nation’s economic activity, providing key source data for the gross domestic product (GDP) and other indicators of economic performance. Providing data that businesses need to compare industries and locations, the economic census is vital for developing business plans, gauging the competition and assessing efficiency.

On Dec. 17, 2007, most U.S. businesses with paid employees will receive an economic census form. The Economic Census takes place every five years in years ending in 2 and 7, and traces its roots back to the first census of manufactures in 1810.

Now 197 years since U.S. marshals first rode out on horseback to collect economic information, American businesses can respond via the Internet using an electronic reporting tool, or they may report using the paper form. A Web site was created
<www.business.census.gov>
to help businesses understand why the economic census is important. It also includes economic snapshots of selected industries.

Forms must be returned to the U.S. Census Bureau by Feb. 12, 2008. Online help can be found at:

<http://bhs.econ.census.gov/ec07/index.html>

Businesses that receive forms are required by federal law to respond. Information about individual firms is kept confidential.

4,700,000
The total number of census forms that are being mailed for the 2007 Economic Census. California is receiving approximately 550,000 forms, Texas approximately 330,000 and Alaska about 12,000. The Ashland, Ohio, micropolitan statistical area will receive about 710. To find an estimate of the number of forms your state, county or metropolitan area will receive, see

557
The number of different versions of the economic census form used to collect the data. There are 22 additional forms unique to Puerto Rico and the other island areas.

Driving Around

16 to 1
The ratio of auto paint or body repair shops to automobile driving schools.
$4,135,433
The average amount of sales per employee at new and used automobile wholesalers, including automobiles, trucks, trailers and other motor vehicles, such as motorcycles, motor homes and snowmobiles.

$24 million
Average new car dealer sales per establishment. This compares with $2 million for used car dealer sales.

At the Gas Pump

14.7%
Percent increase from 1997 to 2002 in the number of gas stations with convenience stores.

-38.6%
Percent decrease from 1997 to 2002 in the number of gas stations without convenience stores.

$1.99 million
Total amount of sales per gas station with a convenience store.

$2.25 million
Total amount of sales per gasoline station without a convenience store.

$259,000
The amount of revenue brought in per employee for gas stations with convenience stores.

$305,000
The amount of revenue brought in per employee for gas stations without convenience stores.

42%
Sales of cigarettes and other tobacco products by gas stations with convenience stores as a percentage of all retail sales of cigarettes and other tobacco products.

Eating, Drinking and Shopping

$258
Per capita sales at drinking establishments in Montana. <

$52
National average per capita sales at drinking establishments. Seven states had more than $100 in per capita sales (Montana, Nevada, Alaska, North Dakota, South Dakota, Wyoming and Wisconsin), while Mississippi and Virginia were among the states with the lowest per capita sales. Nevada ranked highest in average sales per establishment at $607,500, compared with a U.S. average of $305,000.

$1,115
Average sales at eating and drinking establishments of all types for every U.S. resident in 2002.

85
The average number of seats at a full-service restaurant in 2002. There were eight times as many full-service restaurants with an average cost per meal of $7 to $9.99 as there were with an average cost per meal of $30 or more. However the average sales per establishment for the less expensive eateries was nearly two and a half times less than those of the more expensive counterparts.

9,355
The number of department stores in the United States.

789 million square feet
The amount of selling space at department stores in the United States.

$278
Sales per square foot of selling space in U.S. department stores in 2002.
Sales per square foot of selling space in supermarkets and other grocery (except convenience) stores. Conventional department stores sell much less per square foot of selling space–$225. Warehouse clubs and supercenters do better, with $528 per square foot of selling space.

North vs. South
Among supermarkets and other grocery stores, the New England states were among the highest in sales per square foot of selling space with an average around $736 per square foot. Three Southern states – South Carolina, Mississippi and Arkansas – had sales per square foot of selling space less than half of their New England counterparts at about $337 per square foot.

Utilities, Movies and Fast Food

$23.3 million
The amount of the total receipts per establishment in the utilities sector. These were the highest per establishment among the 18 sectors in the 2002 Economic Census. Retail trade receipts per establishment were $2.7 million, while wholesale trade averaged $10.6 million.

$68,705
The average annual payroll per employee in the management of companies and enterprises sector. Employees in the manufacturing sector earned an average of $39,197. Accommodation and food services

$83,521
The revenue per employee for movie theaters (excluding drive-ins).

$9,744
The average annual salary per employee at movie theaters (excluding drive-ins).

65
The number of videotape rental stores per 1 million U.S. residents. There were also 17 movie theaters and one drive-in theater per 1 million U.S. residents.

285
Number of drive-in movie theaters nationwide. California and Ohio had the most with 28 each, followed by Pennsylvania (24), New York (22) and Indiana (16).

16
The average number of workers employed by a limited-service (fast-food) restaurant.

1,319
The average number of people employed at a casino hotel.

Sports

12,261
The number of golf courses and country clubs in the United States.

312,812
The number of employees working at golf courses and country clubs in the United States.

$21,280
The average salary per employee at U.S. golf courses and country clubs.

67
The number of professional (and semiprofessional) football establishments.

6,722
The number of employees who work for football establishments.

$411,824
The average salary per employee among football establishments.

242
The number of professional baseball establishments.

15,976
The number of people employed in professional and semiprofessional baseball.

$156,307
The average salary for employees who work for professional baseball establishments.

$25,701
Receipts per employee at skiing facilities.

Personal Business

Getting your hair done
18 to 1

The ratio of beauty salons to barbershops.

$39,584
The average receipts per employee at nail salons.

$38,271
The average receipts per employee at barbershops.

$36,457
The average receipts per employee at beauty salons.

Who needs a lawyer
169,120

The number of law offices across the nation.

Is there a doctor in the house?
705

The number of physician’s offices per 1 million residents

Buying a house
67%

Percent of revenue from real estate agents and brokers offices that came from the sale of residential property.

Leaky faucets?
The dollar value of business done per paid employee by plumbing and heating, ventilation and air conditioning contractors.

Yard work
76,102

The number of landscaping establishments. One-third of the landscaping businesses provide tree and shrub services; one in five operates a snowplow.

Taking care of the kids
91%

Percent of child day care services that have no paid employees. (Most are self-employed individuals.)

Sweet tooth?
$374

Average amount dentists in Washington received per each state resident, the highest in the country.

$247
The average receipts per capita for dentists

Special Editions of the U.S. Census Bureau’s Facts for Features are issued to provide background information for lesser-known observances, anniversaries of historic events and other timely topics in the news.

Jan
22

Curiosity most importance experience of life - Video

Harold Carey on Jan-22-2008

This is a video post I found about Seth Godin

The film stars the ever-curious Seth Godin. Prolific best-selling author and one of the most-read business bloggers in the world. I filmed Seth without really knowing much about him. The result is ‘curiosity’, a place we might have never reached if I had known the events of his life.

After having read Seth’s blog for a while now - I’m a fan - I suspect his ’success’ to come as a result of a burning curiosity.
Source: http://www.monday9am.tv/

Jan
22

One laptop per child - Video

Harold Carey on Jan-22-2008

A non-profit organization hopes to help children in impoverished countries by distributing low-cost computers.

Designed with help from major companies including Google, NewsCorp, and Nortel, the XO went into mass production in November and has been tested in countries like Brazil, Nigeria, and India already.

Jan
21

Setting Up a Wireless LAN

Harold Carey on Jan-21-2008

Provided by HPEstablish a Broadband Connection
Wireless networks are always an extension of your broadband wired connection. Before you put your wireless network in place, be sure you have a T1, DSL, cable, or other broadband connection in place in your office.

Decide Who, What, When, and Where
Determine who will be using the network and what they’ll be doing on it. Find out when they’ll need it so you can prevent bandwidth-intensive tasks from bogging down your wireless network. Determine the number and location of wireless access points.

Get the Gear
Purchase the gear that creates the wireless network and connects you to the Internet—the access points, routers, and hubs. You’ll also need to purchase wireless network cards for every desktop, laptop, PDA, printer, or other device that will connect to the established wireless network. Be sure that the cards support the same standard and broadcast frequency as the wireless access point.

Implement Wireless Security
Wireless networks broadcast data packets—your information—out into thin air where anyone can pick up the broadcasts. So you’ll need to implement some wireless-specific security measures, such as MAC addressing, data encryption, and other traditional security techniques.

© 2007 Hewlett-Packard Development Company, LP