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Letter Of Credit Rule #1: Strict Compliance: What Are Adzing Machines?

March 22, 2015 Roy Becker

Letter Of Credit, Issuing Bank, Strict Compliance

LETTER OF CREDIT: STRICT COMPLIANCE

One cardinal rule of letters of credit always prevails: strict compliance. Early in my career as an international banker, a lawyer wisely told me, “Roy, when processing a letter of credit, your job is to compare; not interpret.” That advice has helped me on numerous occasions to keep issues in perspective.

It would have helped another banker in this lesson, too, if she had received the same advice.

Before the electronic computer age, international banks typically communicated with each other by telex. A bank in Greece issued a letter of credit by telex and advised it through a New York bank. Upon receipt of the letter of credit, the New York bank followed their policy to re-type the information on their own letterhead and send it to the beneficiary.

BAD JUDGMENT

As the typist transferred the information onto the bank’s letterhead, she came across the merchandise description, which read, “1,000 adzing machines.” In her best judgment, the bank in Greece had made a mistake, so she altered it to read, “1,000 adding machines.”

Upon receipt of the letter of credit, the beneficiary shipped the adding machines and presented documents to the New York bank, which made payment because the documents correctly complied with the terms of the letter of credit.

ISSUING BANK REFUSED TO PAY

The New York bank couriered the documents to the issuing bank in Greece which promptly refused to honor them because their customer had indeed ordered 1,000 adzing machines, an ancient wood-working tool.

The bank in Greece held the New York bank responsible and returned the shipment. The New York bank, left holding the bag so to speak, ended up with 1,000 adding machines. Unable to sell them to recover their losses, the bank made a decision to use the adding machines in their next promotional offer.

"COMPARE, NOT INTERPRET"

If the bank had simply instructed their letter of credit staff to compare, not interpret, this story would have had an uneventful ending and would have never made it into this blog.

In Blogs, Business, Featured Stories, World Tags adzing machin, credit rule, international bank, international banker, issuing bank, Letter of credit, srict compliance, telex
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Connect & Collaborate - Denver is the Big Time

March 20, 2015 Tammy Schaffer

When you think of a city that has the best of both coasts, Denver really has it all. With the exception of a shoreline. It's no wonder people want to live here, and businesses see Colorado as an ideal place to start up or relocate. highnoon logo indexWe tend to think of New York or Los Angeles when we consider big names in television. However, Denver-based, High Noon Entertainment has made a name for themselves, producing some of the highest rated shows on Food Network, HGTV, Discovery Channel, Travel Channel and Animal Planet, among others.

Jim BergerJim Berger, CEO of High Noon Entertainment started the company in 1997 with three partners he had worked with in his television news days at KUSA. Together they launched wildly popular shows, Emergency Vets and Unwrapped and continued to produce winning programs leading to current hits like Cake Boss, Fixer Upper and Dude, You're Screwed.

With main offices in Denver and a presence in both New York City and L.A., High Noon and their staff manage to work in the top of the industry while maintaining a more tolerable, Colorado lifestyle.

In this Pro-Business Colorado edition of Connect & Collaborate, Jim Berger shares some business strategy, and highs and lows with Dave Tabor of CACI.

 

Frederic de Loizaga 0106891Also with a keen eye on Colorado businesses, is Frederic de Loizaga, Senior Associate with CBRE in Denver. Frederic focuses on commercial properties in the South Metro Denver market, for companies considering relocating to Colorado. CBRE is fine tuned on real estate by analyzing the potential labor force, the political landscape, and where an industry's competition lies, just to name a few.

"The Denver market is as hot as it can be.  So many groups want to break in. There are a lot of first time buyers to Colorado."    ~ Frederic de Loizaga

It's the evident success of businesses in Denver that draw more companies, and more job-seekers to our fine city. Opportunity abounds.

Listen Saturday at 1:00 PM on 710 KNUS –  Please let us know what you think of our program, either by commenting here or on Facebook at Connect & Collaborate with ICOSA or join the discussion on Twitter @ICOSAMagazine.

 

In Blogs, Featured Stories, Radio/Podcasts
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Amazon Prime Air, 30 Minute Package Delivery, In the Near Future

March 20, 2015 Contributor

Amazon Gets Experimental Airworthiness Certificate

The certificate allows Amazon Prime Air to test drones outdoors. Amazon is looking to use drones to deliver packages in 30 minutes. The drone will have to be in the pilot's sight, during daylight and only go up to 400 feet or below.

The Federal Aviation Administration issued an experimental airworthiness certificate to an Amazon Logistics, Inc. unmanned aircraft (UAS) design that the company will use for research and development and crew training. The FAA typically issues experimental certificates to manufacturers and technology developers to operate a UAS that does not have a type certificate.

Under the provisions of the certificate, all flight operations must be conducted at 400 feet or below during daylight hours in visual meteorological conditions. The UAS must always remain within visual line-of-sight of the pilot and observer. The pilot actually flying the aircraft must have at least a private pilot’s certificate and current medical certification.

The certificate also requires Amazon to provide monthly data to the FAA. The company must report the number of flights conducted, pilot duty time per flight, unusual hardware or software malfunctions, any deviations from air traffic controllers’ instructions, and any unintended loss of communication links. The FAA includes these reporting requirements in all UAS experimental airworthiness certificates.

In Blogs, Featured Stories, Lifestyle Tags 30 minute delivery, Amazon Prime Air, Prime Air
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Three Axis Gimbals - An Ancient Technology Is Now Advancing Video Production & Media Services

March 18, 2015 Keenan Brugh

What technology reaches back to the ancient Greeks, helped navigation during the Age of Exploration, and even enabled the NASA space program? 3-Axis Gimbals. And now, with the rapid increase of their performance-to-price value, three axis gimbals are revolutionizing modern media services. With the advent of brushless handheld stabilizers and gimbal systems suspended from drones, high end production value is now available at reasonable pricing. If you're considering video production to enhance your branding, now is the best time to contact ICOSA Media Services.

Known at least as far back as the times of Philo of Byzantium, a system of interlocking rings - known as gimbals - allows objects to remain independent of the external rotation of its support. While simple to understand when you look at one, the results still appear quite magical.

Gimbals enabled the Age of Exploration by stabilizing a ship's compass, allowing for more accurate measurements and more precise location mapping. While latitude was relatively easy to figure out with simple observations of the sun's maximum height in the sky as seen at noon, longitude was much more difficult - especially at sea with constant changes to a ship's roll, pitch, and yaw. Many great minds worked on ways to solve this challenges and let navigators know where they were around the world. The result has changed the course of history.

space_gimbalOver the years, NASA has also found many uses for gimbals, first and foremost for their navigational instruments. Its uses also range from training astronauts to handle the g-forces of space travel to satellite tracking and dynamic image stabilization. Rocket engines and thrusters are also often on gimbal systems in order to have greater control over the direction of their force. The American aerospace industry, including publicly funded research and R&D initiatives from private firms like Ball Aerospace and the Sierra Nevada Corporation, have dramatically advanced the state of the art. Below, you can see a photo of Ball Aerospace's Space Based Space Surveillance Gimbal.

 

 

 

 

ball_space_gimbal

Just like other NASA-developed spinoff technologies, the original investment in advancing gimbals has rippling returns. In addition to the micro accelerometers in everyone's smartphones, the field of modern videography and film production are now benefitting greatly from successful spinoffs. For a relatively low cost, a film director can achieve shots that would have previously only been possible with carefully planned out crane or dolly shots.

 

 

 

1280px-AlamoFilming

Historically, smooth motion shots required meticulous planning and the construction of expensive tracks or counterweight balancing systems. To the right is an example from the set of the movie The Alamo. It shows crews using a dolly to achieve a tracking shot during a battle scene. A jib crew can also be seen in the background. These processes cost a lot of time and money, which is why they were usually reserved for high budget Hollywood studios and their blockbuster productions.

 

 

 

With the advent of unmanned aerial vehicles, or drones, cranes may be becoming obsolete. DJI is an industry leader with their Phantom 2 and Spreading Wings platforms. They seem to have become the preferred filming drone based on my conversations with the aerial operators I know. In their development of aerial vehicles that can carry cameras, the issue of image stabilization became apparent, as it did to NASA when trying to stabilize images from cameras aboard satellites and spacecraft. So they used a three axis gimbal system powered with brushless electric motors. Below is an image of a camera suspended below a DJI Spreading Wings uav system.

 

shutterstock_235068922 (1)Now, separating that technology from aerial devices has resulted in the DJI Ronin, a handheld gimbal stabilizer for impressive videography.

 

Whether you are needing visual communication to improve your company's branding or simply just to share your message with the world, now is the best time to do it. Feel free to contact ICOSA Media Services today to discuss turning your vision into reality.

 

ICOSAMedia_IconLogo4

 

 

 

 

 

 

In Featured Stories, Innovation, Science & Technology Tags 3-Axis Gimbal, Film, Media Services, production
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Letter of Credit Non-payment Resulted in Paper Slippers Becoming a Tax Deduction

March 17, 2015 Roy Becker

Letter Of Credit, Beneficiary, Applicant

LETTER OF CREDIT ISSUED FOR THE PAYMENT

A New York bank issued a letter of credit for the importation of paper slippers used in medical clinics and hospitals. The patients donned the disposable slippers as they strolled through sanitary areas of the hospital. The merchandise description on the letter of credit read as follows: “paper slippers with soles double-stitched.”

"DISCREPANCIES" IN THE DOCUMENTS

The documents presented by the beneficiary did not properly indicate double-stitched soles. The issuing bank inadvertently overlooked this requirement and honored the beneficiary’s request for payment.

When the applicant received the slippers and inspected the incorrect documents, he rejected them, demanding that the issuing bank refund their money. Since the bank had already paid the beneficiary, the bank became the unwilling owner of single-stitched paper slippers with little hope of selling them to recover their loss.

DONATE THE SLIPPERS

An official at the bank ingeniously suggested they donate the slippers to a Veterans Administration hospital and capture a tax deduction. The savings resulting from the tax deduction nearly compensated the bank for its loss.

Another lesson learned, thanks to Jim Harrington.

In Blogs, Business, Featured Stories, Information, Intelligence, World Tags Applicant, beneficiary, compensate, donate, Letter of credit, merchandise descripion, Payment, recover loss, refund money, rejected, request for payment, Roy Becker, tax deduction
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Hubble Sees A Smiling Lens | NASA

March 16, 2015 Contributor

In the center of this image, taken with the NASA/ESA Hubble Space Telescope, is the galaxy cluster SDSS J1038+4849 — and it seems to be smiling. You can make out its two orange eyes and white button nose. In the case of this “happy face”, the two eyes are very bright galaxies and the misleading smile lines are actually arcs caused by an effect known as strong gravitational lensing.

Galaxy clusters are the most massive structures in the Universe and exert such a powerful gravitational pull that they warp the spacetime around them and act as cosmic lenses which can magnify, distort and bend the light behind them. This phenomenon, crucial to many of Hubble’s discoveries, can be explained by Einstein’s theory of general relativity.

In this special case of gravitational lensing, a ring — known as an Einstein Ring — is produced from this bending of light, a consequence of the exact and symmetrical alignment of the source, lens and observer and resulting in the ring-like structure we see here.

Hubble has provided astronomers with the tools to probe these massive galaxies and model their lensing effects, allowing us to peer further into the early Universe than ever before. This object was studied by Hubble’s Wide Field and Planetary Camera 2 (WFPC2) and Wide Field Camera 3 (WFC3) as part of a survey of strong lenses.

A version of this image was entered into the Hubble’s Hidden Treasures image processing competition by contestant Judy Schmidt.

Article provided by Nasa.gov

Image Credit: NASA/ESA Caption: ESA

In Blogs, Featured Stories, World Tags ESA, galaxy, Hubble, NASA, Smile, Space Telescope
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Connect & Collaborate - Colorado Leads

March 13, 2015 Tammy Schaffer

Colorado is home to many innovators, and great thinkers. It's one way we lead the nation. From meeting the needs of future business leaders, by instilling in them an ethical compass, to having our fingers on the launch button of modern day space craft, we in Colorado continue to stay ahead of the curve.

meaneyWe're talking with Dr. Mark Meaney, Executive Director of the CU Leeds School of Business Center for Education on Social Responsibility. CESR incorporates business ethics into the curriculum, so that as students learn about running a business, they also understand how more delicate matters should be handled. The need for a focus on ethics and social responsibility stemmed from a change in federal regulations in 1992 which changed sentencing guidelines for organizations that violated the law. Now prosecutors could investigate an organization and determine who was responsible for the crime, where previously, an organization would get a "slap on a wrist" with no one person being held accountable.

Tune in to learn more about how ethics apply to business, and how it fits into the curriculum.

Edgar Johanson Then, stay with us for a conversation with Edgar Johansson, President of the Colorado Space Business Roundtable. We'll discuss the latest projects currently in space, and the upcoming Aerospace Day at the Capitol, March 23rd.

Listen Saturday at 1:00 PM on 710 KNUS –  Please let us know what you think of our program, either by commenting here or on Facebook at Connect & Collaborate with ICOSA or join the discussion on Twitter @ICOSAMagazine.

 

Extended Interview with Mark Meaney:

Segment four: Edgar Johansson, Colorado Space Business Roundtable:

In Blogs, Featured Stories, Radio/Podcasts
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Growing up in the shadow of Everest

March 12, 2015 Contributor

Google maps has reached Everest. Earlier today Google published photos of a 10-day trek through the Khumbu region. The article below is that story. Phortse, Khumbu Region, Nepal

Apa Sherpa is a Sherpa mountaineer who holds the world record for reaching the summit of Mount Everest 21 times—more than any other person. In 2009, Apa founded the Apa Sherpa Foundation, a nonprofit that works to provide better educational and economic opportunities to the young people of the Khumbu region. In March 2014, Apa Sherpa, Google Earth Outreach, and the Nepalese nonprofit Story Cycle, embarked on a 10-day trek through the Khumbu region, supporting local people to enhance the digital representations of their communities on Google Maps. We hope the project will empower the Apa Sherpa Foundation, Story Cycle, other nonprofits, and Sherpa community members to tell their stories through Google Maps. -Ed.

 

Apa Sherpa on the summit of Everest with a memorial to Sir Edmund Hillary who passed away in 2008. Photo credit: Apa Sherpa Foundation

I was born in 1960 in Thame, a small town in the Khumbu region of Nepal, which is home to Mount Everest, the world’s tallest peak. Even though I grew up in the shadow of the mountain, I dreamt of being a doctor instead of a climber. That dream was never realized. When I was 12, my father passed away, and I had to find work to support my family. So I began carrying goods up the mountain as part of an expedition team. At 30, a dream that had never been mine came true: I summited Everest for the first time as a porter.

Our region is famous for being home to Everest, but it’s also the home of the Sherpa community and has been for centuries. The region has much more to offer than just the mountain. So last year, I guided the Google Maps team through my home region to collect Street View imagery that improves the map of our community. Now you can find Thame on the map and explore other communities nestled at the base of Everest, like Khumjung and Phortse.

Phortse Thakiri Chholing Gomba, Monastery, Nepal
Partnering with Google Maps allowed us to get important local landmarks on the map and share a richer view of Khumbu with the world, including local monasteries, lodges, schools and more, with some yaks along the way! My hope is that when people see this imagery online, they’ll have a deeper understanding of the region and the Sherpa people that live there.

 

Map of Thame, Apa Sherpa’s hometown, before the Google Mapping project [above] and added locations [below]

When people ask what it feels like to reach the top of Mount Everest, I say “heaven.” But I haven’t summited the mountain 21 times because I love climbing. I earned this world record in pursuit of a greater goal: to provide a good education and a better, safer life for my kids. My hope is that my children and future generations have many choices for employment outside of mountaineering. Through the Apa Sherpa Foundation, I now work to improve educational access by funding the Lower Secondary School in my hometown to give children other options for their future, so they can pursue their dreams to be doctors—or anything else they want to be, like mine, so many years ago.

Your online trip to my home awaits you on Google Maps. And if you ever get the chance to visit the Khumbu region in person, come stay at the Everest Summiteer Lodge that I built with my own hands. We’ll be ready to welcome you.

Namaste, Apa Sherpa

In Blogs, Featured Stories, Information, World Tags Apa Sherpa Foundation, everest, Google Maps, Khumbu, Nepal, Sherpa, Summiteer lodge
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Why Self-Managed Teams Are the Future of Business

March 10, 2015 Chuck Blakeman

Could you build a business around teams of people who have no manager and who report to no one up a "food chain"? If you want your business to thrive going forward, you just might want to

Self-Managed Teams Are Already A Proven Success

A recent Harvard Business Journal article was titled, "Are We Ready for Self-Management?" as if this is a new, experimental thing. The fact is that many large, highly successful companies like W. L. Gore, Semco, Barry Wehmiller and countless others have been structured this way for up to fifty years.

Command and control freaks still talk as if this is some kind of fringe thing. But self-managed teams are time-tested, proven and here to stay, and a tidal wave of companies are moving in that direction, because the data on why you should do it is irrefutable.

It's Not The Team, It's Ownership

The magic isn't in the concept, but in the principle behind it--ownership stemming from the power to make decisions. When people are encouraged to bring the whole, creative, messy person to work, and make important decisions, they take ownership in ways they never would before. That's important, because ownership is the most powerful motivator in business. A business that motivates everyone to take ownership has found the holy grail.

Responsibility, Not Tasks

The archaic Industrial Age system employed by most companies today would have you believe that a single manager is better at making decisions than the ten people who work under them. But in the emerging work world of the Participation Age, a company believes that the ten people most affected by the decision will be better at making it. The result of both mindsets are revealing. The Industrial Age manager takes the responsibility to make the decisions, and then doles out tasks for the team to complete. But the Participation Age company delegates responsibility to the team, for them to make those decisions. When you assign tasks ("put this nut on that bolt"), people feel used, but when you delegate decision-making responsibility ("make a great washing machine"), people take ownership. Of course this only works if you believe that one manager is not smarter than ten people who are closer to the problem. As Janice Klein of MIT found, a few companies attempted a form of this in the 1980s, but didn't dismantle the management structure that would have reduced their command and control. It's not a management tactic as they discovered, but a culture shift. If you're not totally convinced, don't attempt self-managed teams. You'll just get hives and make a mess of the whole thing.

More of Everything

Many companies have benefited for decades from giving people back their brains. These companies grow faster, are more productive and more profitable, have lower turnover, and have increased longevity. As more and more owners and investors see the numbers, they will demand that their companies move in this direction.

It's Simple, Just Not Easy

Are you motivated to enter the Participation Age with self-managed teams? It won't happen overnight. A century of "bosses" have taught people they are not quite as smart and motivated as managers. You have to reverse that notion, and it will take time for people to trust you really are doing it.

Here's how:

1) Form a team around anobjective(i.e. 4-12 people) 2) have them FIRST clearly define the desired result, 3) then the process(es) needed to get that result. 4) Then THEY set metrics for steps in the process and 5) for pay based on the result desired (quality, quantity, speed, etc.,) 6) finally THEY decide what happens if the metrics aren't met and how to move team members along if they are not contributing appropriately. 7) Leadership approves. 8) Run it.

Safeguarding Your Future 

In the Participation Age, people don't want jobs that just pay the bills, they want work that allows them to be fully human, make decisions and own their stuff. As more companies leave the Industrial Age management structures behind and invite people to decide, they are more likely to retain the great people they have. Giving people their brains back is becoming a necessity for keeping them. Self-managed teams is one great way to do that.

In Blogs, Business, Featured Stories, Intelligence Tags Chuck Blakeman, Industrial Age, manager, participation age, proven success, self managed, self managed teams, self management, team
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Application Open for Governor’s Award for Excellence in Exporting 

March 10, 2015 Stacy Feeney

Colorado’s Office of Economic Development and International Trade (OEDIT) is currently accepting applications for the 2015 Governor’s Award for Excellence in Exporting.  This award has been given to Colorado exporters every year since 1970 and recognizes economic growth through international trade.  Winners will be formally recognized on May 19, 2015 at World Trade Day, the region’s premier international trade event. The Excellence in Exporting award provides official recognition from the State, and can help Colorado companies increase their competitiveness in international markets. Oliver Manufacturing received the award in 2014. Director of Sales and Marketing Jon Moreland said, “Establishing rapport with potential customers half a world away can be challenging.  What better way to gain credibility in international opportunities than to tout an award from the Governor of Colorado.”

Colorado’s product and service exports totaled approximately $20 billion in 2013. The Excellence in Exporting Award recognizes this contribution to the State’s economy by highlighting one or more firms for noteworthy accomplishments in international business.

Colorado-based companies that have exported products or services for three years or more are eligible to apply.

Applications are due on or before Friday, April 17, 2015.  Applications are available on OEDIT’s website.  For questions, contact Stacy Feeney, International Outreach Manager at [email protected]

Governor Hickenlooper presents the Excellence in Exporting Award to Oliver Manufacturing in 2014

http://www.advancecolorado.com/international-business/exporting-colorado governors export award

In Blogs, Featured Stories, State Tags 40westarts-org, Colorado, Colorado Office of Economic Development and International Trade, economic growth, Excellence in Exporting, exporters, Governor of Colorado, Governor's Award for Excellence in Exporting, International business, International Outreach, OEDIT, product, service exports
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Connect & Collaborate - Company Week

March 6, 2015 Tammy Schaffer

As manufacturing makes a resurgence in the United States, it helps to draw focus on growth and challenges of the industry. That's the advantage of Company Week, The Voice of the Rocky Mountain Manufacturing Economy.  Company Week is a digital media platform dedicated to sharing the latest news, technology, and other advances.

BartTaylorcolumn_200_172

Bart Taylor, Founder of Company Week, joins us in a Pro-Business Colorado Edition of Connect and Collaborate, where he shares that he identified the need for a information on the regional manufacturing economy, here and in the Rocky Mountain West.

Taylor saw the surge surge of maker and manufacturing businesses in Colorado, including craft beer and organic and natural foods.  By offering a platform for manufacturers, Taylor hopes he's contributing  to the growth of America's industrial capability.

John Buck Headshot

Also in this week's show, we talk with John Buck, a self-described writer and student of the subjects of Leadership, Legacy and Relationships. Buck describes one's professional as divided into thirds, the final third being retirement. He admits that everything changes then, from the frequency of interactions with others, to being challenged throughout the day. John Buck encourages everyone to consider their legacy, and to start now!

 

Listen Saturday at 1:00 PM on 710 KNUS –  Please let us know what you think of our program, either by commenting here or on Facebook at Connect & Collaborate with ICOSA or join the discussion on Twitter @ICOSAMagazine.

 

 

In Blogs, Featured Stories, Radio/Podcasts
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Self-Driving Cars in 30 U.S. Cities by 2017

March 6, 2015 Guest Author

There will be driverless buses and pods as well.

By Sage Lazzaro | 03/05/15 10:47am
Originally appearing in the Observer

Finally, we can put up our feet and let computers take the wheel.

Automated vehicle pilot projects will roll out in the U.K. and in six to 10 U.S. cities this year, with the first unveiling projected to be in Tampa, Florida as soon as late spring. The following year, trial programs will launch in 12 to 20 more U.S. locations, which means driverless cars will be on roads in up to 30 U.S. cities by the end of 2016. The trials will be run by Comet LLC, a consulting firm focused on automated vehicle commercialization.

“We’re looking at college campuses, theme parks, airports, downtown areas—places like that,” Corey Clothier, a strategist for automated transportation systems who runs the firm told, The Observer.

He explained that they’re focusing on semi-controlled areas and that the driverless vehicles will serve a number of different purposes—both public and private. The vehicles themselves—which are all developed by Veeo Systems—will even vary from two-seaters to full-size buses that can transport 70 people. At some locations, the vehicles will drive on their own paths, occasionally crossing vehicle and pedestrian traffic, while at others, the vehicles will be completely integrated with existing cars.

What would happen if you combine driverless cars with an on-demand service like Uber? One study says it would make nine out of ten cars on every road totally obsolete.

One of the early test sites will be the U.S. Army’s Fort Bragg in North Carolina. There, small pod-like vehicles will transport wounded troops from their barracks to the nearby hospital for treatment and check-ups. The Comet team is also planning a pilot project at The United States Military Academy at West Point, although Mr. Clothier said this site has not been finalized.

An automated vehicle system will also be implemented at Stanford with its first purpose being to provide transportation around their SLAC National Accelerator Laboratory campus. Scientists and academics travel from all over the world to visit the center, and the first application of the automated vehicle system will be to transport visiting scientists to the accelerator.

At the first test site in Tampa, the plan is to start with public transit around the Museum of Science and Industry and eventually expand to the University of Southern Florida campus and the neighboring City of Temple Terrace. The Comet team is also planning trials in two other cities in Florida; Greenville, South Carolina and Seattle, Washington, where the 70-person buses will be used in public transit.

At 25 to 40 percent cheaper, the cost to ride the driverless public transit vehicles will be significantly less expensive than traditional buses and trains, according to Mr. Clothier. They’ll also be far less expensive to operate. The vehicles are electric, rechargeable and could cost as low as $1 to $3 to run per day.

In addition to these first trials of automated vehicles for commercial use in the U.S., the U.K. will begin running tests this year in Greenwich, London as well. The $9 million project called GATEway will consist of public self-driving shuttles that will link residents to transport hubs, The O2 Arena and other destinations in northern Greenwich, carrying eight to ten passengers at a time.

Greenwich was chosen for the Project—which is being led by the U.K.’s Transport Research Laboratory (TRL)—because, since it’s home to the Prime Meridian.

“It is the global reference point for time and links to navigation,” Nick Reed, the TRL academy director, said. “It also has a massively growing population, so we’re trying to meet the needs of that with the technology.”

Upon entering the shuttles, each passenger chooses from the pre-determined destinations on the touch screen, and then the computer determines and readjusts the route as riders hop on and off. Each vehicle uses lasers to build up an image of the route and determine where it is and where it needs to go.

These shuttles will drive along their own route but must cross pedestrian and vehicle traffic at times. The lasers will also enable the cars to determine when it’s safe to cross and also to spot obstructions. At a recent launch event, the vehicles proved how safe they are and how well they can sense obstructions and the world around them.

“You can image a lot of the journalists wanted to see this thing run into pedestrians, so they were almost jumping in front of it,” Mr. Reed said laughing. “But it was doing what it was supposed to do and stopping.”

He also explained that these shuttles are only the first part of the trials. They’re also working on autonomous valet parking that would enable drivers with ordinary cars to pull up to their destination, send their car to park itself and then summon it later. Additionally, they’re beginning to research how automated vehicles can be used for grocery delivery and other urban services.

Mr. Reed feels that this technology won’t completely replace today’s cars and trains, but that it is disruptive and will be the norm soon.

He described his first experience in a driverless vehicle as feeling “vulnerable at first,” but said that it quickly became very comfortable.

“It’s a bit unnerving to begin with because you realize the system is in control and you’re relying on the sensors and brakes to keep you safe, but very quickly after seeing it respond to pedestrians and such, you see it work and become very comfortable. I became relaxed even,” he said, adding how happy we’ll all be to be able to just watch Netflix while our cars drive us around.

Mr. Clothier, who has been riding in automated vehicles since their military-only days and has even been passenger to a computer among semis driving at 65mph on a Michigan highway, feels similarly.

“It’s a whole new thing, but it will be comfortable,” he said. “People are very comfortable riding in [them]. It’s kind of like an elevator: you go in, put in your destination, the doors close and you’re off.”

SEE: Mercedes-Benz’s New Car Is Driverless

Correction: The SLAC National Accelerator Laboratory participated in the Smart America Challenge as a possible future pilot site but a trial is not set to run there at this time.

In Automotive, Featured Stories, Industry, Innovation, Nation, News, Science & Technology Tags self driving cars
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Construction-defects Bill is Needed Fix

March 3, 2015 Jeff Wasden

Colorado is uniquely positioned to capitalize on numerous economic advantages that have lowered our unemployment rate, seen strong growth in several identified sectors and generated more than 70,000 new jobs in 2014, while the forecast for this year continues to trend upward. While economists predict a 2.5 percent growth rate for 2015, we are faced with an immense issue — skyrocketing housing costs. A recent analysis by Zillow showed renters would need to make $35 an hour to stay within the rule of thumb regarding share of housing costs to annual income. Denver is a desirable city for millennials who bring ideas, innovation, creativity and passion to the workplace. Our housing costs and lack of diversity threaten the very fabric of attainable and affordable options.

As a leading statewide business organization, the Colorado Business Roundtable understands how important providing attainable housing is to community building. COBRT will be unabashedly relentless in our support of options that allow our first responders, teachers, and business community to not only work but also live within our cities and communities. We also have many seniors who desire to live near their children and grandkids who need lower-maintenance properties.

Colorado’s construction-defects law passed in 2001 and has undergone several amendments since. Most cite the changes passed in 2003 and 2007 that have caused owner-occupied, multi-family housing to shrink from 23 percent of the marketplace to 3.1 percent in 2014. While we can spend a lot of time looking at what got us to where we are today, we do not prefer to look in the rearview mirror but find creative, bipartisan, pragmatic ways to fix this issue.

Senate Bill 177 is a bipartisan repair or fix in both the House and Senate that has done exactly what needed to happen: stakeholders sitting down and listening to all parties and learning from proposed legislation the past two years. The COBRT is proud to be a part of the Homeowner Opportunity Alliance, a large, diverse coalition of business leaders, trade associations, chambers of commerce and community leaders. The Colorado Business Roundtable strongly feels that homeowner rights and protections will not be weakened or restricted by the passage of SB177.

Senate Bill 177 ensures that construction issues within a condo or townhouse community are not only addressed fairly and quickly but take into account the rights of homeowners and respect the members of the association community. While every homeowner deserves the right to have, in most cases, their biggest investment protected and repaired in the case of an issue, SB177 stops the current practice in which a small number of owners — often a simple majority of a homeowners association board — can enter into legal action without the knowledge or authorization of the majority of homeowners.

There are cases where homeowners have transferred or attempted to refinance their home and been told, much to their surprise, that they cannot because of pending legal action. This is not only egregious but morally wrong, in our view.

According to state Sen. Jessie Ulibarri, D-Commerce City, SB177 differs from previous legislation in that it adds language requiring mandatory mediation and arbitration prior to filing a construction defects claim. This dispute resolution, as a way to repair or cure issues prior to initiating a lawsuit, creates a more favorable market for insurers, who cite the threat of litigation as a primary driver for the high cost of insuring owner-occupied, multi-family housing options. Alternative dispute resolution is a legally enforceable, effective, less costly way and — just as important — a less time-consuming method of resolving disputes.

We want to stress the importance of creating a workable resolution process that is fair to homeowners. One that protects their rights, which fosters conditions that will allow the building of diverse and affordable housing options, and encourages new developments near light rail and transit stations. The Colorado Business Roundtable values the importance of community — one made of not only first-time home buyers and the millennial generation that brings so much creativity and enthusiasm but also seniors, firefighters, law enforcement and great workers in manufacturing, energy, technology and health sciences.

Locally, communities like Lakewood and Parker have passed ordinances to create a local remedy to encourage or spur needed development within the multi-family, owner-occupied space. While we are appreciative of their efforts and successes, this is an area where our elected leaders at the state level need to step up and ensure the passage of SB177. From the House and Senate sponsors to leadership and the rank and file dedicated servant leaders, there is broad-based bipartisan support. Please reach out to your legislator and encourage him or her to support the passage of this important economic and community-building legislation.

Jeff Wasden, a Highlands Ranch resident, is president of the Colorado Business Roundtable. He can be reached at [email protected].

Previously published by the Highlands Ranch Herald

In Blogs, Featured Stories, Politics Tags COBRT, Colorado, construction, defects law, growth rate, homeowner, Homeowners Opportunity Alliance, Jeff Wasden, jobs, legislator, SB177, Sen Jessie ulibarri, Senate Bill 177, unemployment rate
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Putin’s Culture of Fear and Death

March 3, 2015 Contributor

Boris Nemtsov threw his big body, big voice and big heart into the uphill battle to keep democracy alive in Russia.

Garry Kasparov, speaks openly about Putin's Russia. ___________

By GARRY KASPAROV As posted on WSJ March 1, 2015

Boris Nemtsov, my longtime friend and colleague in the Russian opposition, was murdered in the middle of Moscow on Friday night. Four bullets in the back ended his life in sight of the Kremlin, where he once worked as Boris Yeltsin ’s deputy prime minister. Photos showed a cleaning crew scrubbing his blood off the pavement within hours of the murder, so it is not difficult to imagine the quality of the investigation to come.

Vladimir Putin actually started, and ended, the inquiry while Boris’s body was still warm by calling the murder a “provocation,” the term of art for suggesting that the Russian president’s enemies are murdering one another to bring shame upon the shameless. He then brazenly sent his condolences to Boris’s mother, who had often warned her fearless son that his actions could get him killed in Putin’s Russia. Boris was a passionate critic of Mr. Putin’s war in Ukraine and was finishing a report on the presence of Russian soldiers in the ravaged Donbas region, a matter that the Kremlin has spared no effort to cover up. But the question “Did Putin give the order?” rings as hollow today as when journalist Anna Politkovskaya was gunned down in 2006, the same year that Putin critic Alexander Litvinenko was poisoned in London—or when a Malaysia Airlines passenger jet was shot down over eastern Ukraine last year.

Certainly the arrogance of the assassins is a notable clue. They could have chosen many dark and out-of-the-way places along the same route Boris took but instead sent a message by selecting a prominent and heavily surveilled spot. Opposition leaders are always watched closely by Russia’s security services before public rallies—Boris had been planning a protest against the Ukraine war on Sunday—so how could these trained bloodhounds not notice that someone else was following him? Regardless of whether President Putin gave the order, there is no doubt that he is directly responsible for creating the conditions in which these outrages occur with such terrible frequency.

The early themes in Mr. Putin’s reign—restoring the national pride and structure that were lost with the fall of the Soviet Union—have been replaced with a toxic mix of nationalism, belligerence and hatred. By 2014 the increasingly depleted opposition movement, long treated with contempt and ridicule, had been rebranded in the Kremlin-dominated media as dangerous fifth columnists, or “national traitors,” in the vile language lifted directly from Nazi propaganda.

Mr. Putin openly shifted his support to the most repressive, reactionary and bloodthirsty elements in the regime. Among them are chief prosecutor Alexander Bastrykin, who last week declared that the Russian constitution was “standing in the way of protecting the state’s interests.” In this environment, blood becomes the coin of the realm, the way to show loyalty to the regime. This is what President Putin has wrought to keep his grip on power, a culture of death and fear that spans all 11 Russian time zones and is now being exported to eastern Ukraine.

Boris Nemtsov was a tireless fighter and one of the most skilled critics of the Putin government, a role that was by no means his only possible destiny. A successful mayor in Nizhny-Novgorod and a capable cabinet member and parliamentarian, he could have led a comfortable life in government as a token liberal voice of reform. But Boris was unqualified to work for the Putin regime. He had principles, you see, and could not bear to watch our country slide back into the totalitarian depths.

And so Boris launched his big body, big voice and big heart into the uphill battle to keep democracy alive in Russia. We worked together after he was kicked out of Parliament in 2004, and by 2007 we were close allies in the opposition movement. He was devoted to documenting the crimes and corruption of Mr. Putin and his cronies, hoping that they would one day face a justice that seemed further away all the time.

Boris and I began to quarrel after Mr. Putin returned as president in 2012. To me, the Putin return signaled the end of any realistic hopes for a peaceful political path to regime change. But Boris was always optimistic. He would tell me I was too rash, that “you have to live a long time to see change in Russia.” Now he will never see it.

We cannot know exactly what horror will come next, only that there will be another and another while President Putin remains in power. The only way his rule will end is if the Russian people and the elites understand that they have no future as long as he is there. Right now, no matter how they really feel about Mr. Putin and their lives, they see him as invincible and unmovable. They see him getting his way in Ukraine, taking territory and waging war. They see him talking tough and making deals with Angela Merkel and François Hollande. They see his enemies dead in the streets of Moscow.

Statements of condemnation and concern over the Nemtsov murder quickly poured forth from the same Western leaders who have done so much to appease the Kremlin in recent days, weeks and years. If these leaders truly wish to honor my fearless friend, they should declare their support for the many tens of thousands of marchers who turned Sunday’s protest rally into a funeral procession. Western leaders should declare in the strongest terms that Russia will be treated like the criminal rogue regime it is for as long as Mr. Putin is in power. Call off the sham negotiations. Sell weapons to Ukraine that will put an unbearable political price on Mr. Putin’s aggression. Tell Russian oligarchs, every one of them, that there is no place their money will be safe in the West as long as they serve the Putin regime.

The response so far hasn’t been encouraging. Given President Putin’s sordid record, calls from Western leaders for him to “administer justice” could almost be considered sarcastic. Western media inexplicably continue to air, unchallenged, statements by his cadre of propagandists. Many reports credulously cite Mr. Putin’s high approval rating at home, as if such a concept has any meaning in a police state. Meanwhile, the Russian media churn out preposterous and insulting conspiracy theories about the death of a man they had called an enemy of the state.

We may never know who killed Boris Nemtsov, but we do know that the sooner President Putin is gone, the better the chances are that the chaos and violence Boris feared can be avoided.

Mr. Kasparov is the chairman of the New York-based Human Rights Foundation. His book on Vladimir Putin, “Winter Is Coming,” will be published by Public Affairs in the fall.

In Blogs, Featured Stories, Nation, News, Politics, World Tags aggression, Alexander Bastrykin, Alexander Litvinenko, Angela merkel, Anna Politkovskaya, Boris Nemtsov, Boris Yeltsin, Four bullets, Francois Hollande, Friday night, Garry Kasparov, Kasparov, Kremlin, Moscow, Mr Putin, murdered, Nizhny-Novgorod, President Putin, Putin regime, Putin's russia, Russian opposition, Russion, Ukraine, Vladimir Putin
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Does The Letter Of Credit Police The Transaction? Which Seems Better? New Or Reconditioned?

March 2, 2015 Roy Becker

Letter Of Credit, Confirming Bank, Issuing Bank, UCP

LETTER OF CREDIT WAS PAID BY THE BANK This insightful story, told by Jim Harrington, concerns a company that builds equipment for manufacturing cans used in the food and beverage industry. The manufacturer received a letter of credit to pay for a shipment of one machine. Since the documents complied with the terms of the letter of credit, the confirming bank in the Unites States made payment and sent the documents to the issuing bank in Brazil. The issuing bank in Brazil inspected the documents and also honored the payment.

BUYER CLAIMED IT WAS A USED MACHINE, NOT NEW

When the goods arrived in Brazil, the buyer discovered that the vintage machine, manufactured in the 1920s, did not meet the conditions of the contract, which indicated a new machine.

BANKS DEAL IN DOCUMENTS, NOT IN GOODS

When the buyer complained to the issuing bank in Brazil, the bank explained that they deal in documents, not in goods, and that the buyer had no claim against the bank because the documents complied with the terms of the Letter of Credit. As a courtesy, the issuing bank sent a message to the confirming bank, which in turn contacted the beneficiary to inform him of the mistake. Upon checking his records, the beneficiary discovered that through a computer error, a reconditioned machine left their warehouse instead of a new machine.

A GOOD DEAL FOR THE BUYER

The beneficiary contacted the buyer in Brazil with an offer to return the used machine in exchange for a new one, or alternatively, accept a credit of $100,000 and keep the old machine. Upon careful thought, the buyer determined that the more stringent manufacturing specs in the 1920s made the reconditioned machine of better quality than a new one, so he decided to keep the old one and accepted the $100,000 credit.

LETTER OF CREDIT RULES WERE FOLLOWED

The rules for processing letters of credit (UCP) clearly indicate that with a letter of credit, “Banks deal with documents and not with the goods, services or performance to which the documents may relate” (Article 5). Any disputes regarding the goods are handled directly between the buyer and seller, properly leaving the bank as an independent paymaster.

In Blogs, Business, Featured Stories, World Tags bank, beneficiary, brazil, conditions, confirming bank, goods, ICO Terms, International shipping, Letter of credit, manufacturing, shipment, UCP
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Connect & Collaborate - Export Trade

February 27, 2015 Tammy Schaffer

The doors to international business are open to you, just take a step through. Many businesses overlook their ability to do business overseas because they think it's too complicated, they're not sure how to get paid, or that there is simply too much red tape.

The Colorado Business Roundtable works to bring people together to make business endeavors easier. That's why we're introducing you to people who can guide you and your business through the process.

Our guests this week are Robina Peanh, Regional Manager at Meridian Finance Group; Paul Bergman Director of U.S. Department of Commerce Export Assistance Center, and John Boner, Vice President of Sales at CAP Logistics. These three organizations have found that their combined efforts help other businesses navigate overseas exports with ease.

The U.S. Department of Commerce Export Assistance Center provides guidance for small businesses as they look to launch their services and products overseas.  A common concern businesses tend to voice is the ability to get paid, but Paul Bergman is encouraging, "If you do it properly, you will probably have less bad debts than you do domestically. Ninety-eight percent of the time you will get paid if you follow the proper steps."

Robina Peanh, at Meridian Finance Group also serves as a guide through the financial sectors, through relationships with numerous lenders who have the expertise in international trade and can offer finance programs for clients looking to export.

CAP Logistics handles freight forwarding, both domestically and internationally. With more than 30 years experience, CAP is familiar with the strategies to move cargo between international ports, while negotiating the documentation required.

Together, this trio is able to tap into the resources needed for successful international trade, each with strengths in particular areas. Learn more by listening to the full conversation, Saturday at 1:00 PM on 710 KNUS.

Please let us know what you think of our program, either by commenting here or on Facebook at Connect & Collaborate with ICOSA or join the discussion on Twitter @ICOSAMagazine.

In Blogs, Featured Stories, Radio/Podcasts
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New Transcontinental Flights, La Guardia Airport to San Francisco

February 27, 2015 Contributor

Long-haul Flights From La Guardia

Flights that are longer than 1,500 miles are currently banned from New York's La Guardia Airport, however regulators are considering removing the ban, and the effect on ticket prices, air traffic, noise and operations. This restriction is decades old, going back to 1984. The Port Authority of New York and New Jersey, are looking into the perimeter rule, “to determine whether it remains in the best interest of the region’s air travelers.” The authority said any change would occur only after thorough analysis and consultation with all interested parties in a public and transparent manner.”

Journalist Andrew Tangle and Jack Nicas reported;

“The mix of flights at La Guardia would change materially,” said Mike Boyd, president of aviation-consulting firm Boyd Group International. “Why would you have a 50-seat jet going to Charlottesville when that slot can be used for a 150-seat jet going to Seattle?”

Discussions on lifting the rule began late last year and have accelerated recently, people familiar with the talks said. The authority plans to study how abolishing the rule would affect air traffic, ticket prices, noise and operations at the region’s airports, these people said. The study could be completed within a few months, and lifting the rule would require approval by the bistate authority’s board of 11 commissioners, these people said. The discussions come as the governors of New York and New Jersey recently backed a report that, in part, called for easing regulatory burdens at the region’s airports.

Delta Air Lines Inc. and American Airlines Group Inc. control 40% and 28%, respectively, of the departing seats at La Guardia. JetBlue Airways Corp. and United Continental Holdings Inc. have much smaller positions there and have instead invested heavily in John F. Kennedy International and Newark Liberty International airports, which could lose some value if travelers can fly nonstop to more destinations from La Guardia.

Officials at two airlines said Delta has been lobbying Port Authority officials to reconsider the perimeter rule. Delta declined to comment.

Rob Land, JetBlue’s senior vice president of government affairs, said officials should complete a long-awaited project to replace a key terminal building before embarking on a rule change that would pack more travelers into an already overcrowded airport.

“The deplorable conditions at La Guardia from a customer perspective as well as an airline perspective operationally are only getting worse by the day and we have yet to begin the yearslong ‘pardon our dust’ period that is the Central Terminal project,” Mr. Land said. “It would seem the last thing we want to do is add more crowds to La Guardia until we appropriately address capacity issues.”

La Guardia’s two main 7,000-foot runways could support aircraft that can reach some near European cities, such as London and Paris, and Latin American destinations like Mexico City and Bogotá, Colombia. But La Guardia lacks a federal border-clearance facility, which is needed to accept travelers from most international airports, and has little space to add one.

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Still, without a perimeter rule, airlines at La Guardia could serve a handful of new international destinations, including Dublin and Vancouver, because those airports can pre-clear U.S.-bound travelers under agreements with U.S. border officials. Airlines already serve Toronto, Montreal, Ottawa and Halifax from La Guardia.

Travelers, politicians and airline officials have criticized La Guardia, built in 1929, for being outdated. Vice President Joe Biden last year said it was out of a “Third World country.”

The next step in a project to replace La Guardia’s 50-year-old Central Terminal Building, known to travelers as Terminal B, has been delayed until at least April pending the outcome of a broader design competition for New York airports. Some industry officials said they worry that lifting the perimeter rule could further delay La Guardia’s overhaul—concerns that are shared by some at the Port Authority, a person familiar with the process said. “Lifting the perimeter rule will absolutely have some impact on the procurement,” the person said.

The perimeter rule has roots in the 1950s, when the Port Authority limited La Guardia flights to within 2,000 miles, according to court documents. The authority formalized the rule in 1984 but tightened the restriction to 1,500 miles, with the exception of Denver. The rule isn’t in effect on Saturdays, and some airlines have experimented with longer flights on that day. Delta currently flies to Aruba and back on Saturdays.

The idea was to limit air traffic at La Guardia to business travelers and steer vacationers taking longer-distance flights to farther-flung Newark Liberty and JFK airports.

An executive at one airline said officials implemented the perimeter rule partly because decades ago, La Guardia’s runways could only handle aircraft that could fly less than 1,500 miles or so. But 30 years later, smaller jets can fly much farther than they used to.

“Today’s aircraft performance is such that it’s a really an anachronistic design to divide markets between La Guardia and the long-haul New York airports,” said Bob Mann, a New York-based airline consultant.

Limiting carriers to a 1,500-mile radius from La Guardia has resulted in nonstop service for a few dozen smaller cities in the eastern U.S., including Roanoke, Va., Lexington, Ky., and Bangor, Maine. Airline officials and consultants said that because slot restrictions prohibit carriers from adding more net flights at La Guardia, airlines would almost certainly drop flights to smaller cities in exchange for new service to the West Coast. Airlines stand to earn far more by flying larger planes to bigger cities than on serving small cities with 50-seat jets.

“This will change [smaller cities’] access to New York,” said Mr. Boyd, the airline consultant. “But it’s good business—the highest and best use of an asset.”"

In Blogs, Business, City, Featured Stories, Nation Tags airlines, airports, American Airlines Group, Boyd Group International, Central Terminal, Delta Air Lines, JetBlue Airways, JFK, La Guardia, long haul, Newark, perimeter rule, Port Authority, Port Authority of New York and New Jersey, runways, travelers, United Continental Holding
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Draft Drone Rules Rule Out Long Distances

February 25, 2015 Keenan Brugh

The technological advances of unmanned aerial vehicles (UAVs) have been remarkable over the last couple of years. Their increasing capabilities and affordability promise many opportunities for commercial applications, ranging from farming to logistics. Despite the immense potential, the Federal Aviation Administration (FAA) has long been quiet about the upcoming regulatory framework. Until now.

The FAA has just released proposed rules for commercial drones within the United States.

Although the rules are not as draconian as some people feared, commercial applications for UAVs are still facing limitations compared to other countries.

The FAA isn't requiring commercial drones to undergo a lengthy and costly certification process. UAVs under 55 lbs can be flown as long as the operators have passed a basic aeronautical test.

They must, however, be flown below 500 feet, only in daylight, and remain within view of their operators at all time. They also can not be flown over people, such as at concerts and sporting events.

This is a “good first step”, says the Association for Unmanned Vehicle Systems. It would easily allow, for example, a real estate agent to take aerial photographs of a house being put up for sale. It would also allow for farmers looking to survey crop conditions.

Not being allowed to fly over crowds might prevent television companies from filming sporting events with drones. Perhaps further certifications would allow such maneuvers in the future.

The requirement that the UAVs stay within line of sight is also a big limitation, preventing long-distance flights (inspecting forests and monitoring pipelines, for example). This would also rule out Amazon's plan of using drones to deliver goods ordered online.

Michael Huerta, head of the FAA, says that as drones develop the rules will continue to "evolve."

As the technology improves and operators build experience, perhaps the agency will eventually permit longer-range, out-of-sight flights.

In the meantime, the current proposals will undergo a lengthy period of public comment before being finalized- possibly in 2017.

Drone operations in other countries are already getting airborne with pilot projects. In China, Alibaba has launched a drone delivery service for tea orders. In Europe, the logistics firm DHL has begun delivering medicine and other urgent supplies to a small island off the coast of Germany.

To see some of these pilot programs in action, check out this video from the Wall Street Journal:

In Business, Featured Stories, Industry, Innovation, Intelligence, Nation, News, Science & Technology Tags drones, FAA, UAV
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Obama Vetoes Keystone XL Pipeline

February 25, 2015 Contributor

The Keystone XL Pipeline bill would have authorized a 1,179-mile pipeline. The debate is a hot topic for environmentalists and North America's energy industry. The Keystone Pipeline has been under review for the past six years. Just this past Tuesday, Obama promised to veto the approval. ________

TO THE SENATE OF THE UNITED STATES:

I am returning herewith without my approval S. 1, the "Keystone XL Pipeline Approval Act."  Through this bill, the United States Congress attempts to circumvent longstanding and proven processes for determining whether or not building and operating a cross-border pipeline serves the national interest.

The Presidential power to veto legislation is one I take seriously.  But I also take seriously my responsibility to the American people.  And because this act of Congress conflicts with established executive branch procedures and cuts short thorough consideration of issues that could bear on our national interest -- including our security, safety, and environment -- it has earned my veto.

BARACK OBAMA

_______________________________

Related article: KEYSTONE XL PIPELINES BIGGEST OPPONENT IS ITS MISGUIDED PUBLIC PERCEPTION

Journalist Amy Harder and Colleen McCain Nelson explain in detail;

"Mr. Obama vetoed the legislation, not the pipeline itself. The administration retains the ultimate authority over the pipeline, and the veto doesn’t affect the review, which is in its final stage.

The move prompted immediate criticism from Republicans, who have described the TransCanada Corp. project as a jobs and infrastructure measure. Majority Leader Mitch McConnell (R., Ky.) said on the Senate floor Tuesday that the chamber plans to hold a vote to override the veto by next Tuesday, although neither the Senate nor the House appears to have the requisite two-thirds of votes for an override.

MORE IN CAPITAL JOURNAL

Keystone Veto to Test Whether Obama, GOP Can Move Forward Barack Obama Has Issued Fewer Vetoes Than 75% of Presidents Tuesday’s veto was Mr. Obama’s third since he became president in 2009. His other two vetoes were on relatively minor bills: one involving legislation dealing with the notarization of mortgages, and the second rejecting a spending bill for technical reasons.

Many Democrats oppose the project, saying it wouldn’t create many permanent jobs and citing environmental risks that come with pipelines, including spills.

While the rejection of the Keystone legislation was no surprise, it will test whether the White House and Republicans can push forward on some shared interests while undertaking battles on other issues. Mr. Obama has threatened to veto several other Republican bills, among them legislation to alter the Affordable Care Act and to impose new sanctions on Iran.

The Keystone action also comes as a standoff over funding the Department of Homeland Security escalates, with Republicans trying to use the issue as leverage to block the president’s executive actions on immigration.

Republican leaders in Congress and Mr. Obama have pledged in recent weeks to work together on areas such as easing trade deals and overhauling tax laws. But Tuesday’s veto, along with other emerging conflicts, has brought into focus the divisions that could impede efforts for a Democratic president and Republican-controlled Congress to forge deals.

“President Obama has rejected our attempt to work together,” House Majority Leader Kevin McCarthy (R., Calif.) said in a statement.

White House officials repeatedly have said that disagreements over one issue shouldn’t become obstacles to agreement on any other issue. The skirmish over Keystone could test that aspiration.

“The question is whether Congress and the administration will be able to pursue a two-track relationship, where they disagree where they must and agree where they can,” said William Galston, a senior fellow at the Brookings Institution and a former policy adviser to President Bill Clinton.

In a message to Congress, Mr. Obama cited the continuing State Department review as the reason for his veto, saying that the legislation “conflicts with established executive branch procedures and cuts short thorough consideration of issues that could bear on our national interest—including our security, safety and environment.”

Asked if the Obama administration might eventually approve the pipeline after the State Department review is complete, White House spokesman Josh Earnest said Tuesday: “That possibility still does exist. This is an ongoing review.” Yet, Mr. Obama has spoken skeptically of the pipeline in recent months.

As proposed, the Keystone XL pipeline would move as many as 830,000 barrels of oil a day, mostly from Canada’s oil sands to Steele City, Neb., where it would connect with existing pipelines to Gulf Coast refineries. As many as 100,000 barrels of that oil could come from North Dakota’s booming oil fields.

If completed, the pipeline system would span 1,700 miles and cross six U.S. states. TransCanada already has spent $3 billion on the project, and the total cost could surpass $10 billion—more than twice an initial estimate—if it is ever built.

On its website Tuesday, TransCanada, based in Calgary, Alberta, said it “remains fully committed” to its project, despite Mr. Obama’s veto."

In Blogs, Business, Canada, Energy, Featured Stories, Oil & Energy, World Tags Canada, Keystone Pipeline, Keystone XL, obama, Oil sands, Pipeline
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Be skeptical of government-owned broadband networks

February 24, 2015 Jeff Wasden

Vastly expanding the reach of taxpayer-funded broadband networks, and overriding common-sense state technology laws — as President Obama recently proposed — is the perfect example of the old adage, "If it sounds too good to be true, it probably is." Colorado businesses and taxpayers must turn a skeptical eye toward municipal or government-owned networks (GONs) and, fortunately, our state laws allow local citizens to vote before such an expensive investment is foisted on them. The robust and excessively rosy claims for GONs — which the president echoed in his announcement — are centered on assertions that that they work well and cost taxpayers nothing. These claims simply don't stand up to long-term scrutiny, as demonstrated by the experience in cities around the country.

Expect this debate to heat up fast nationally and here in Colorado. In fact some local government advocates are proposing to eliminate your right to vote on GONs, hoping to duck the in-depth scrutiny that comes along with a local election.

Consider these basic facts that some government advocates don't want you to know:

Look at history. GONs routinely disappoint consumers and taxpayers. Many municipal networks are more expensive to consumers than services offered by private network providers. In fact, advocates often say that there is no cost to taxpayers at all, despite ample evidence to the contrary. And when things go awry, local taxpayers foot the bill - which results in higher taxes, precious local funds diverted from other priorities, or both.

Consider the costs. Local governments routinely tell their citizens that budgets are often too tight to adequately fund public safety, transportation or education, to name just three essential government functions. Adding GONs to the mix is one more (and very expensive) demand on local tax dollars.

Can the private sector do it better? The past troubles that GONs have had are public record and well-documented. A solution that reduces the risk to taxpayers and local budgets is to partner with the private sector to bring cutting-edge broadband services to more Colorado communities. Effective routes to do this include providing tax incentives to build out networks, updating ordinances to reflect ever-changing technologies and speeding up permitting processes. Companies have invested hundreds of millions of dollars in Colorado over the past three years — including Comcast's WiFi investment for downtown Denver, and the gigabit network CenturyLink is deploying in Denver and Colorado Springs. Sustainable broadband deployment is assured when the private sector can respond to changing technologies and provide state-of-the-art service — a level of agility that government just doesn't have.

The desire here in Colorado — and across the country — for high-speed, low-priced broadband access is understandable and we applaud President Obama for drawing attention to this issue. But as with every major taxpayer investment, the risks and rewards must be weighed by taxpayers and local elected officials. Local governments can and should aggressively advocate for the rollout of broadband in their communities, but it's clear that government is not best suited to build, subsidize, manage and maintain its own network.

That's why a robust local dialogue leading to an up-or-down vote is the best route to ensure that taxpayers know what they're being asked to buy — and, potentially, bail out. Coloradans should push back hard against a Washington-designed solution being sold as a broadband panacea.

Jeff Wasden is president of the Colorado Business Roundtable.

Originally published at the Denver Post.

In Blogs, Business, City, Featured Stories, Information, Politics Tags broadband networks, budgets, Colorado businesses, funded, GONs, government-owned networks, higher taxes, investment, municipal networks, obama, private network providers, taxpaer, tech, tech law
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