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Real World Economics: Railroads need a better safety plan

Published Fri, 21 Feb 2025 10:49:33 GMT

Edward LottermanWhen the BNSF derailment at Raymond, Minn., last month came across the news, it was ironically appropriate that I was reading Gillian Tett’s book, “Fools Gold.” It is a superb account of the development of credit default swaps, derivative financial instruments designed to reduce risk, that instead ended up amplifying it, leading to the financial meltdown of 2007-09.What’s the link? Well, the derivatives that brought our economy to its knees and devastated millions of innocent-bystander households were invented by a team at JPMorgan headed by an intense libertarian who believed that economies performed optimally with little, if any, government regulation. Today, the same is true of the founders of Silicon Valley Bank and of cryptocurrencies. Credit default swaps and SVB ended in debacles; cryptocurrencies eventually will as well.The cult of this form of economic libertarianism rests on assumptions that several conditions necessary for optimal markets alway...

ACSO: Albany man pulled over in stolen car, arrested

Published Fri, 21 Feb 2025 10:49:33 GMT

ALBANY, N.Y. (NEWS10) -- An Albany man was arrested after being pulled over while driving a stolen car, according to the Albany County Sheriff's Office. Joey Ward Jr., 22, faces multiple charges. Get the latest, news, weather, sports and community events delivered right to your inbox! On Saturday, Albany County Sheriff's Office deputies pulled over a car in the area of Washington Avenue and Lark Street. Deputies say the car matched the description of a vehicle reported stolen from Schenectady. Deputies say they took Ward, who was identified as the driver, into custody without further incident. Charges:Third-degree criminal possession of stolen propertySeventh-degree criminal possession of a controlled substanceTraffic citationsWard is held at the Albany County Correctional Facility as a pre-arraigned detainee and will be arraigned before the City of Albany Criminal Court.

Why a former coach calls Broncos defensive lineman Zach Allen “a professional jerk,” and means it as a compliment

Published Fri, 21 Feb 2025 10:49:33 GMT

When NFL teams descended on the 2019 scouting combine in Indianapolis, they were bombarded with defensive front-line talent.By the time the draft rolled around, teams spent 10 of the first 19 picks on defensive linemen and edge rushers, including the likes of Nick Bosa, Quinnen Williams, Dexter Lawrence, and Jeffery Simmons. Along with that star-studded group, a pair of somewhat less-heralded players shined.Player A: 6-foot-4, 281 pounds. 40-yard dash: 5.00 seconds. Broad jump: 112 inches. Vertical: 32.5 inches. Shuttle: 4.36 seconds. Three-cone: 7.34 seconds.Player B: 6-foot-3, 281 pounds. 40-yard dash: 5.12 seconds. Broad jump: 110 inches. Vertical: 31.5 inches. Shuttle: 4.53 seconds. Three-cone: 7.71 seconds.Player A was drafted No. 65 overall. Player B went six picks later. Over the past three seasons, they’ve played 1,850 defensive snaps over 41 games and 1,892 snaps over 42 games, respectively. They each signed three-year contracts upon reaching free agency this offseason. Pla...

Why Avalanche’s “ugly,” stubborn win against LA Kings was their most important of the year: “That’s all you’re going to face another week from now”

Published Fri, 21 Feb 2025 10:49:33 GMT

LOS ANGELES — How bad must a team’s performance be for the coach to feel lucky to be tied at intermission — right after coughing up a two-goal lead?The answer was in the Avalanche locker room late Saturday night.“I thought we were lucky to be tied,” Jared Bednar said after a bizarre 4-3 win over the Kings. “We were lucky to be tied after one. We were lucky to be tied after two.”The paradox came after two. Colorado (48-24-6) had returned from a hideous first period, built a 2-0 lead with puck luck and other fortuitous favors, then instantly surrendered that advantage. It was square going into the third period of a crucial game, after 40 thoroughly uninspiring minutes.But Bednar felt lucky it was tied.That’s why the win that followed is perhaps the Avalanche’s most important of the 2022-23 season.Not because of what it meant for the division standings. Not because it allowed the Avs to protect their claim to first place over Dallas...

Mysterious purple jelly-like creatures washing ashore in Southern California

Published Fri, 21 Feb 2025 10:49:33 GMT

Look, but don’t touch. That’s the message from marine biologists as Southern California sees an influx of jellyfish-like creatures called By-the-Wind Sailors.On Saturday, Dana Wharf Whale Watching posted a video showing the mysterious, purple blobs that travel with the ocean currents and winds. They're beginning to wash ashore by the hundreds along the California coast, according to Surfer.com.By-the-Wind sailors are known as colonial hydroid, meaning they’re comprised of a colony of tiny creatures similar to the Portuguese Man O'War. (Dana Wharf)By-the-Wind sailors are known as colonial hydroids, meaning they’re comprised of a colony of tiny creatures, similar to the Portuguese Man O'War. They feed on algae and zooplankton and are a favorite meal for sunfish, according to Nona the Naturalist with Dana Wharf Whale Watching.Like jellyfish, By-the-Wind Sailors also have stinging cells, so marine biologists say people should avoid touching them.

Los Gatos’ equity, diversity report calls for community engagement, affordable housing

Published Fri, 21 Feb 2025 10:49:33 GMT

The Los Gatos Planning Commission took a first look last month at a plan designed to identify ways to make the town a more inclusive place for all residents.“I think this is a necessary step to take these abstract concepts and turn them into meaningful actions we can take in the town,” Commissioner Melanie Hanssen said at a March 22 meeting where the Justice, Equity, Diversity and Inclusion, or JEDI, report was introduced.All commissions and committees, as well as the general public, will have the opportunity to provide feedback on the report, which included recommendations for community engagement and building more affordable housing in town.Last year the town council was verbally harassed by a far-right group that criticized the council’s diversity, equity and inclusion efforts and critical race theory. Then-mayor Marico Sayoc and her family became the target of some of the vitriol, which included anti-LGBTQ comments.There was also anti-Semitic graffiti left at the Addison-Penzak ...

’80s icons take the stage at Campbell’s Heritage Theatre

Published Fri, 21 Feb 2025 10:49:33 GMT

Campbell’s Heritage Theatre wraps up its 2022-23 season with an evening of ’80s pop music featuring Taylor Dayne and Sheena Easton on Thursday, April 27.Between them, the two pop icons have amassed nine Grammy Award nominations, two Grammy Awards, two Billboard Music awards, one American Music Award, six platinum albums, five gold albums, 39 Billboard Top 20 singles and 11 No. 1 Billboard singles.Dayne’s debut single “Tell It To My Heart” led to international pop stardom in 1987. Ranked as the No. 18 Female Dance artist of all time by Rolling Stone magazine, Dayne is equally recognized for her songwriting talent. She wrote many of her own hits as well as Tina Turner’s “Whatever You Want.”Dayne has also worked as an actress, appearing on Broadway in Elton John and Tim Rice’s “Aida” and co-starring in Denis Leary’s TV drama “Rescue Me.”Easton is the first – and still only – artist to have a Top 5 record on each of Billboard’s primary singles charts. She has sold over 20 million ...

Cupertino festival features, blossoms, tea and rabbits

Published Fri, 21 Feb 2025 10:49:33 GMT

Special art projects involving tea and rabbits are planned for Cupertino’s 39th annual Cherry Blossom Festival later this month.The festival, set for April 29-30 at Memorial Park, celebrates the sister city relationship between Cupertino and Toyokawa, Japan. Outdoor entertainment includes Taiko drum groups, Japanese dancers, various martial arts and musical performances. Children’s activities feature games, arts and crafts, and a petting zoo.The nearby Quinlan Community Center will host indoor performances and cultural displays, demonstrations, workshop and activities. Chief among these performers is Madame Soko Kobara, who has been teaching the Urasenke Japanese tea ceremony the Bay Area for over 55 years and will demonstrate the ceremony at the festival.In 1968, Kobara and her husband, the Rev. Seiji Kobara, received permission from the grand tea master in Kyoto to perform a public tea ceremony demonstration. Since then, she’s gone on to earn the distinction of “Meiyo Shihan,” or ...

City of Cupertino co-hosts informational meeting on Lehigh quarry

Published Fri, 21 Feb 2025 10:49:33 GMT

Lehigh update meetingSanta Clara County Supervisor Joe Simitian, in partnership with the City of Cupertino, is holding an in-person public meeting with a virtual option on Wednesday, April 26, 6:30-8:30 p.m., to provide an update on the Lehigh Southwest Cement Plant and Permanente Quarry. For more information, visit district5.sccgov.org/5th-district/events.Spring events at McClellanSpring is upon us, and many of the native flora are in full bloom. Join park rangers on Saturday, April 22, 1:30-3 p.m., for a walk through McClellan Ranch Preserve to explore identification properties, ecosystem services, connection to wildlife and how native flowers were a part of the everyday life for the Ohlone Indians.The following Saturday, April 29, rangers will hold a wildlife tracking class from 1 to 2:30 p.m. at McClellan Ranch. Learn about species identification through their tracks.Registration is required for both events to reg4rec.org.Picchetti poetry jauntNature poetry has a long tradition ...

Milpitas launches mortgage relief program

Published Fri, 21 Feb 2025 10:49:33 GMT

Mortgage relief availableThe City of Milpitas last month launched the mortgage relief portion of its Rent and Mortgage Relief Program to help low- and moderate-income residents who need funding assistance to stay in their homes.The federal government has allocated American Rescue Plan Act (ARPA) funding to the City of Milpitas for communities, organizations and businesses that have been adversely impacted by the COVID-19 pandemic.The city council approved the use of $950,000 in American Rescue Plan Act (ARPA) funds to assist Milpitas residents and designated 75% of the funding to rent relief and 25% to mortgage relief.The Rent and Mortgage Relief Program will provide up to $5,000 in rent relief and up to $15,000 for mortgage relief per household. The rent relief allotment launched in December to help Milpitas residents in need of support during the holiday season, and funding remains available.“The city’s new assistance program is intended to help with current housing conditio...