The Isolated Entrepreneur

Many people use wikipedia as a first stop when they want to learn about a word, event or concept.  I use it for word definitions, plant and bird identification, and description of historical events.

But how unbiased is this free, online encyclopedia?   Recently, a new website has appeared called WikiScanner.  This website takes the editor information on wikipedia and makes it easier for readers to view the origin of the edits or a wikipedia entry. (more…)

Not only does it save you money since you don’t need to use a stamp or envelope, online banking is more environmentallly friendly.

Online Banking Saves Trees

Approximately 53 million people use online banking.  If all households were to make the switch, 16.5 billion trees and 2.3 million tons of wood could be spared.

• No postage stamps
• No envelopes
• No cardboard boxes or packaging material to send paper and envelopes to stores.

Less Pollutants and Energy Consumption

Less paper consumed means less paper is manufactured and less waste needs to be landfilled.

If all households used online banking,

• 3.9 billion pounds of carbon dioxide equivalents would be spared (equivalent to  355,015 cars being taking off the road)
• 13 billion gallons of water would be conserved (equivalent to 19,846 pools being filled)
• 1.6 billion pounds of solid waste would be produced (equivalent to 56,000 fully loaded garbage trucks)
• 8.5 million fewer particulates and 12.6 million less nitrogen oxide in the air (equivalent to getting 763,000 buses and 48,000 18-wheelers off the streets)

Source: Scientific American, “Money is Green, but Online Banking is Greener” (August 16, 2007)

Many Skype users had problems making and receiving calls yesterday (NYTimes) due to a Skype software error.  The company has pinpointed the problem but is unsure why it brought down the network.

The company could not ensure that the phone service would be 100% reliable today.  The problem has been in existence for 4 years and is in every user’s software.  It took a unique set of events to trigger it.

Expect a software update soon.  =-)

There is a new bill introduced in the House that would allow consumers to pay long-term care insurance premiums with pre-tax dollars by including them with employer’s flexible spending accounts.

The bill also stated that if 75% of individuals between the age of 40 and 65 were to purchase this insurance and maintain it, the annual savings in Medicare nursing home expense would total $19 billion, and annual savings in out-of-pocket expenses would total $41 billion by 2030.

Source: NASE Washington Watch Update, 8/15/07.

Summary of SBA, Office of Advocacy, Second Quarter, 2007: The Economy and Small Business (PDF)

Although the economy grew, small business owners and consumers have a more pessimistic outlook.

• The economy grew an annualized value of 3.4% in the second quarter - most of the growth is in net exports and private investments of non-residential construction.
• The NFIB optimism index fell to 96.0 in June and hiring plans for small businesses faded.  (The historical average for this index is 100.2. )
• The economic and business mood seems to reflect higher energy costs and the housing slow down.
• Unemployment rate is 4.5% which means businesses are still finding it hard to fill open positions.  Every industry except construction, manufacturing and retail trade gained jobs during this quarter.
• Short term interest rates stayed relatively the same.
• The current Senior Loan Officer Opinion Survey shows that the demand for small loans has weakened and banks are tightening their standards for small commercial and industrial loans.
• The core annualized inflation rate (does not include food and energy) grew 2.3%.
• The overall consumer price index grew by a annualized 5.2%.  A significant portion is due to higher energy and food costs.  The cost of West Texas crude oil was up nearly $7/barrel since March.

Have you taken a look at the recently reauthorization bill of the State’s Children Health Insurance Program (SCHIP)?

Funding of SCHIP is to come from increased cigarette taxes.  I am not a smoker - but why do most health initiatives require putting a bigger tax on tobacco?

Shouldn’t funding of healthcare be paid for by everyone?

Highlights 

•  The Senate’s bill would increase federal cigarette taxes by 61 cents.
• The House’s bill would increase the taxes to 45 cents but makes changes to the Medicare Advantage program.
• Coverage of  adults without children will be phased out after two years.  States can create a  requirement criteria for parents.
• Coverage of pregnant women will be reduced starting 2011.
• States need to create other aid programs in addition to SCHIP.

from CNet’s “House panel approves legal shield for bloggers“, August 1, 2007. 

Professional bloggers (one who makes his/her living writing blogs) may soon have the same protections as journalists - protecting them from revealing their sources.

On August 1st, a house panel verbally voted to expand the Free Flow of Information Act to include professional bloggers and independent writers.

It is unclear as to when this bill will head for the House floor for a vote or when the Senate will focus on a similar bill.  So for today, bloggers are most independent writers have no right to protect their sources.

The Free Flow of Information Act

• The practice of journalism is the “gathering, preparing, collecting, photographing, recording, writing, editing, reporting or publishing of news or information that concerns local, national or international events or other matters of public interest for dissemination to the public.”
• In the approved version, people eligible for the privilege could be forced to reveal their sources when it’s necessary to prevent an “act of terrorism” against the United States or its allies, when it’s clear that crimes have been committed, when “significant specified harm” to national security could occur, or when trade secrets, nonpublic personal information or health records are compromised in violation of existing laws.
• The revised bill attempts to exclude the “casual blogger” from reaping those benefits by stipulating the protections apply only to those who derive “financial gain or livelihood” from the journalistic activity

Currently, if you decide to move from one wireless carrier to another, you need to purchase a new phone as well.  Each wireless carrier currently approves which mobile devices will work on their network.

Soon a large chunk of new airwave frequencies will be up for auction by the FCC - and, with them, new rules will take into effect.  Consumers will be able to bring their own wireless device with them and download any software they want.

This will allow companies to enter the wireless electronics industry easier and give consumers more choice.

Summary of BusinessWeekOnline’s article, “The Pet Economy“, August 6, 2007.

Dogs and cats, once family pets for kids, are now popular among empty nesters, singles, and couples without kids. This shift in pet owners is important because, without kids in the household, they have money to spare.

Pet Trends

• 63% of American households (71 million homes) have at least one pet.
• Americans now spend $41 billion/year on their pets (double that of a decade ago).
• After electronics, pet care is the fastest growing retail sector (6% per year).
• Annual compound growth rate for core vet services over the last ten years is 10%.
• 42% of dogs now sleep in the same bed as their owners (34% in 1998)
• Half of all dog owners consider their pets comfort when purchasing a vehicle.
• A third of all dog owners purchase a birthday gift for their pets.

Specialized Services

• Doggy day care centers
• Doggie hotels instead of kennels
• Organic pet food and catered gourmet meals
• Braces, cosmetic surgery and artificial balls for neutered pets
• Specialized clothing for pets
• Pet Psychotherapy
• Pet cremation & funeral services

Today, the US Federal Minimum Wage Law of 2007’s first increase takes effect. This puts the minimum wage at $5.85 per hour.

The other two steps in minimum wage increases take place on:

• July 24, 2008, $6.55 per hour
• July 24, 2009, $7.25 per hour

Note: Your state minimum wage law may be higher than the Federal standard.
Resource: http://www.dol.gov/esa/whd/