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64 lbs. of mercury for sale … on Craigslist?

Talk about it

    A tip from an alert online shopper who noticed an unusual posting on Craigslist allowed authorities to recover 64 pounds of dangerous elemental mercury from a Floodwood resident.

    The ad, offering “instrument grade’’ mercury in four plastic bottles for $650, was posted by a man who said he found it when cleaning out his late grandfather’s garage.

    The alert shopper contacted the Western Lake Superior Sanitary District, which in turn notified the Minnesota Pollution Control Agency, triggering a hurried effort last month to get the mercury out of circulation.

    PCA officials decided the best action was to buy the mercury from the seller rather than begin a lengthy and complicated compliance investigation. WLSSD officials made the purchase for $300 using a state grant and brought the mercury back to the WLSSD Household Hazardous Waste Facility in Duluth for proper disposal.

    It’s believed to be the largest such mercury discovery in Minnesota since state regulations have been in place.

    The seller said his grandfather apparently had planned to use the mercury for mining gold. Mercury bonds with gold and often was used so the gold would sink and settle out during prospecting efforts.

    Mercury is a natural element, but in concentrated form it can be extremely toxic, even fatal. Small amounts of mercury in certain forms can make huge amounts of water toxic to humans. Even small amounts of regular exposure can build up in living organisms and cause reproductive and neurological problems.

    Dealing with a spill of 64 pounds — intentional or accidental — could have been a monumental environmental and human-safety crisis. Direct exposure to liquid or vaporized mercury can be hazardous and cause immediate health problems, officials said Thursday.

    “Exposure to mercury vapors, if it was to become heated in some way, is extremely dangerous,’’ said Carl Herbrandson of the Minnesota Department of Health.

    Most of the concern over mercury in recent years has been about airborne deposition — mercury that goes up in smokestacks and comes back down in rain and snow. But there have been major spills of mercury as well.

    In 2004, an emergency response and cleanup of a spill of about 12 pounds of mercury in Rosemount, Minn., cost nearly $525,000, according to PCA records. Two teenagers found the mercury in an abandoned home, played with it and eventually exposed 49 people, including 18 children. Many outdoor areas at Rosemount Woods and 14 homes had to be decontaminated, but no severe health problems were reported.

    State and federal governments have moved to get mercury out of power plant and factory emissions so the mercury doesn’t fall back to Earth and become toxic to fish, and the animals and people who eat fish. Regulations also have worked to remove mercury from products such as thermometers, blood pressure gauges, thermostats, light bulbs and switches; they even control the mercury released when dental fillings are burned in crematoriums.

    If even one mercury thermometer is broken in a school, it can force the evacuation of the entire building, said Jeff Connell, the PCA’s director of compliance and enforcement.

    Connell said it was fortuitous the seller decided to list the mercury for sale and even more so that someone thought it odd enough to contact hazardous material authorities.

    “Industry spends millions of dollars to keep a fraction of this much mercury out of the environment every year,’’ Connell said “And to think this could have easily ended up in a dumpster.”

    The mercury offered for sale was in four sealed plastic bottles and in its original packaging, WLSSD officials noted. They estimated it was about 20 years old. Although mercury is not illegal to own in Minnesota, state laws do regulate its sale and purchase.

    “It is legal to sell and purchase for very specific, well-regulated purposes, but not for just any reason. In this case we were able to step in and prevent an illegal sale from happening,’’ Connell said, noting no action will be taken against the seller.

    Connell noted that mercury is a naturally occurring element, but human activity releases more mercury to the environment than what is released through natural processes.

    “If you find anything suspicious, please do what this person did and call your local hazardous waste or household waste office, or call us,’’ said Anne Perry Moore, a spokeswoman for the PCA in Duluth. “And please don’t vacuum it up or just throw it out.’’

    For more information go to www.pca.state.mn.us/mercury or contact the state spill hotline at (800) 422-0798.

    Tags:
    news, health, environment, wlssd, minnesota

    Martin gun range targets sold online



    ORLANDO, Fla. –

    An unidentified entrepreneur admits he is trying to profit off Trayvon Martin’s death by selling gun range targets featuring the teen who’s death has sparked a nationwide controversy.

    Although Martin’s face does not appear on the paper targets, they feature a hoodie with crosshairs aimed at the chest.  A bag of Skittles is tucked in the pocket and a hand is holding a can resembling iced tea. 

    Martin purchased both items minutes before he was shot and killed by George Zimmerman in February, according to police.

    Zimmerman, who has pleaded not guilty to second-degree murder charges, originally told investigators he shot Martin in self-defense.

    According to an advertisement for the targets that had been posted on a popular firearms auction website, the sellers stated they “support Zimmerman and believe he is innocent and that he shot a thug.” 

    That online ad has since been removed.

    “This is the highest level of disgust and the lowest level of civility,” said Zimmerman’s attorney Mark O’Mara.

    O’Mara said he is worried about how Martin’s parents will react to the image of their son on a target intended to be used for shooting practice.

    The attorney is also concerned the targets will further inflame the community.

    “It’s this type of hatred — that’s what this is, it’s hate-mongering — that’s going to make it more difficult to try this case,” said O’Mara.

    Local 6 has been unable to determine the identity of the seller, who had also set up a website to sell the gun range targets.

    In an email exchange with reporter Mike DeForest, the seller wrote, “My main motivation was to make money off the controversy.”

    The seller would not disclose how many paper targets had been made, but said in an email, “The response is overwhelming.  I sold out in 2 days.” 

    Some of those targets were sold to two Florida gun dealers, according to the seller.

    Before DeForest identified himself as a reporter, the seller claimed that targets were still available for purchase. After being informed Local 6 was investigating his online business, the seller claimed the targets would no longer be sold.

    Firearm owners are buzzing about the Trayvon Martin targets on several gun enthusiast websites. 

    Very few have shown interest in purchasing the targets.  Most have expressed disgust.

    “Even though I fully believe Zimmerman was justified in shooting, Trayvon was still a human being and does not deserve that kind of disrespect in death,” wrote one firearm owners association website member.

    Attorney for the Martin family Natale Jackson said the family also believes the target is “disgusting.”

    “It’s a sad certain segment of our society that would think you could make a profit off the killing of a teenage boy,” Jackson said.
    The online advertisements for the targets have been taken down as of Friday.

    Fast-growing website Pinterest gets $100M boost to jump into online selling

    This screen shot taken Friday, Feb. 24, 2012, shows a page of women's products from Pinterest.com.This screen shot taken Friday, Feb. 24, 2012, shows a page of women's products from Pinterest.com.

    This screen shot taken Friday, Feb. 24, 2012, shows a page of women’s products from Pinterest.com.

    AP

    Pinterest, the fast-growing website that started as a place to share vintage postcards, recipes and crocheted camera strap ideas, has jumped into e-commerce.

    Rakuten, one of the world’s largest online commerce sites, announced Thursday it was leading a $100 million investment in Pinterest, the two-year-old social media bulletin board with 11.7 million unique users.

    “While some may see e-commerce as a straightforward vending machine-like experience, we believe it is a living process,” Rakuten CEO Hiroshi Mikitani said in a news release.

    The investment means the site, which started in 2010, is now worth $1.5 billion, the Financial Times reported.

    With 18 global markets, the Japan-based Rakuten can link its users, with their registered IDs, to products posted on the site or eventually to Rakuten’s many sites.

    “We want to enable our users to pin their own images with our ID,” he told the technology website TechCrunch. “Users can click and buy with it, and in the future we can create more new services.”

    Rakuten already uses Pinterest through its Rakuten Commerce and Rakuten Travel sites. Through acquisitions, the company also owns Buy.com in the United States, Priceminister in France, Play.com in the U.K. and Ikeda in Brazil.

    “Our goal is to help people discover things they love, by connecting people through their shared interests,” Pinterest CEO and co-founder Ben Silbermann said in a news release. “Bringing Rakuten on board gives us an amazing opportunity to move a step closer to this goal.”

    “They use beautiful graphics very effectively to create interest circles,” Mikitani told the FT. “The traffic coming from Pinterest probably will have a very high conversion rate. That is why I think they are very good at this discovery shopping.”

    Buying into Pinterest reflects Mikitani’s goal of “becoming the number one Internet service company in the world,” Michael Jaconi, CEO of Rakuten-owed FreeCause.com, told the Star.

    “Pinterest has enormous synergies with their business model” as a fit for Rakuten, said Jaconi, who is also a Rakuten executive officer. “It’s social and interactive and creates a relationship” with the people who use it.

    Joining Rakuten in the investment were Andreessen Horowitz, Bessemer Venture Partners, and FirstMark Capital.

    Rakuten bought the e-reader company Kobo in November, 2011.

    People forget companies are in the business of using their personal data “because such companies articulate their messages in utopian terms of communication and authenticity. Data is the new oil, and users have to be very careful,” author Andrew Keen was quoted as saying after the Kobo deal.

    Sell in May and the London whale


    By Mitch Tuchman

    I was in a great debate with a mathematician who builds algorithms for a multibillion-dollar hedge fund. He was adamant that his marketing timing and stock picking algorithms did better than just owning market index funds like ETFs, consistently, over a long period.

    But he was often stumped when discussing his performance in 2008 (his math didn’t predict when to get out and back in) and in 2011, he was wrong about timing in August.

    Finally, he said: “If there is one market timing strategy that works, it is ‘sell in May and go away’! I’ve backtested this for years and years and it has shown to increase returns.”

    This “tried and true” trader’s adage advises that one sell everything going into the summer and buy back in after Labor Day has certainly worked the last couple of years. The U.S. market peaked in April 2010 and then dropped until the Fed agreed to flood more capital into the economy with QE2. In 2011, after peaking in April, the U.S. market fell from July into October while our government dealt with the debt ceiling and panic erupted over European financial contagion over Greece.

    On April 2, 2012, the SP 500


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     closed at 1,419 and has reversed course down to about 1,330 today, already down over 6%. Is it time to sell in May? It depends upon what your goals are as an investor.

    The problem with market timing is that like most successful trading strategies, it works, until it doesn’t. And when it stops working, the losses can be dramatic. Just ask the now infamous “London Whale,” at JP Morgan Chase


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    .

    Traders affectionately call this “blowing up” — when a trade works and then suddenly, doesn’t. In “Blowing Up” (April 2002,
    New Yorker Magazine),

    Malcolm Gladwell recounts a story told by famous options trader Nassim Taleb:


    “A year after Nassim Taleb came to visit him, Victor Niederhoffer blew up. He sold a very large number of options on the Samp;P index, taking millions of dollars from other traders in exchange for promising to buy a basket of stocks from them at current prices, if the market ever fell. It was an unhedged bet, or what was called on Wall Street a “naked put,” meaning that he bet everyone on one outcome: he bet in favor of the large probability of making a small amount of money, and against the small probability of losing a large amount of money—and he lost.


    On October 27, 1997, the market plummeted 8%, and all of the many, many people who had bought those options from Niederhoffer came calling all at once, demanding that he buy back their stocks at precrash prices. He ran through a $130 million—his cash reserves, his savings, his other stocks—and when his broker came and asked for still more he didn’t have it.


    In a day, one of the most successful hedge funds in America was wiped out. Niederhoffer had to shut down his firm. He had to mortgage his house. He had to borrow money from his children. He had to call Sotheby’s and sell his prized silver collection—the massive 19th-century Brazilian “sculptural group of victory” made for the Visconde De Figueirdeo, the massive silver bowl designed in 1887 by Tiffany amp; Company for the James Gordon Bennet Cup yacht race, and on and on. He stayed away from the auction. He couldn’t bear to watch.”

    Here are a few more reasons why you probably shouldn’t try your hand at marketing timing:

    1. Getting out on time is the first trick. Getting back into the market is just as important. If you get out a little late, and in a little early, you may end up worse than doing nothing.

    2. For retirement investors, owning a diverse set of asset classes is important. In the last 12 months, the SP 500 hasn’t changed that much, but the Vanguard Emerging Markets ETF


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    is down nearly 20%. Are you able to time multiple markets, not just the U.S.’s?

    3. In a taxable account, the difference in tax rates can consume much of the advantages of your trade. You have to make 35% more in short-term gains just to break even with long-term gains on an after-tax basis.

    If you learn how to rebalance your portfolio, you can capture many of the gains from market volatility without betting on the market’s direction. But if you find investing ‘fun’ then this blood sport is one of the best on the planet. If you are working hard as the steward of your retirement funds, then play the game at your own peril.

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    Ill. Senate president champions online gambling

    Illinois should move quickly to establish itself as an international leader in online poker and other types of Internet gambling, state Senate President John Cullerton said Tuesday, claiming the payoff could amount to hundreds of millions of dollars.

    The Chicago Democrat is introducing legislation that would create a Division of Internet Gaming within the state lottery. Under his proposal, that new division would make Illinois the first state to jump into the world of online gambling. Illinois is already the first to sell lottery tickets online.

    “The state could organize the first major poker pool, garner worldwide popularity, and position itself as a `hub’ for multi-state and international iGaming,” Cullerton said in a letter to the governor and other legislative leaders.

    Cullerton said it is imperative for Illinois to act this spring, before other states take the lead.

    But others urged caution.

    “We should not rush to vote on this proposal, blinded by some dollar signs,” said Patty Schuh, spokeswoman for Senate Minority Leader Christine Radogno, R-Lemont. “This is a massive expansion of gambling that deserves serious consideration.”

    The U.S. Justice Department says states can offer Internet gambling so long as it doesn’t involve betting on sports teams. The ruling allowed Illinois to sell lottery tickets online, but it also opened the door to much broader gambling options.

    Cullerton’s proposal would allow online gambling by anyone who is 21 or older and physically in the state of Illinois. It would also let people set maximum amounts of time and money they could spend gambling.

    Sen. Terry Link, D-Waukegan, chairs the Senate Gaming Committee and is a frequent advocate of expanding gambling in Illinois. He praised Cullerton’s proposal as having “unlimited potential” and said it would not cut into business at Illinois casinos.

    Millions of people are already gambling online, Link said, so there’s no reason Illinois shouldn’t get some of that money. And if Illinois acts quickly, he said, it could establish itself before other states jump in.

    “It’s better to be first than to be last,” Link said.

    ——

    The legislation is HB4148

    Online: http://bit.ly/JtF5jE

    Touts get savvy, sell BE, MBBS seats online

    CHENNAI: Getting an engineering seat has never been easier, with admission brokers now available at the click of a button. As touts advertise admission to engineering and medical colleges online, the sale of management seats is no longer a hush-hush affair.

    Several websites such as olx.in, sahipasand.com and locanto.in carry advertisements that offer “direct admission in BE/BTech through the management quota“. TOI contacted a few of these ‘admission consultants’ to find that seats at top medical and engineering colleges across the country were up for sale from Rs 1 lakh to Rs 12 lakh.

    Many of these touts operate through hole-in-the-wall offices in places like T Nagar and Teynampet in Chennai.

    An advertisement by Ashutosh Singh on sahipasand-. com offers career counselling , career guidance and direct admission in SRM University. When contacted, Singh asks, “What is your budget?”

    A mechanical or computer engineering seat at the SRM main campus costs between Rs6.75 lakh and Rs 7 lakh. “Booking for the seats started in the last week of February. If you wait any longer, the rates are likely to go up,” Singh says.

    Rates are a little lower for other campuses of the same institute. A seat can be had for Rs 1 lakh to Rs 2 lakh at the university’s Ramapuram campus. “The only difference is the tall buildings on the main campus ,” says Singh.

    Aryan, of ‘Inspire Consultancy’ , has advertised on locanto.in. He offers, for a sum of Rs 15 lakh, a seat in any National Institute of Technology , which admits students through the centralized All-India Engineering Entrance Examination.

    “It’s a slightly illegal process but I can access your answer sheet and mark the correct answers if you are willing to pay,” he offers. But he suggests a private university , as the process is “safer and easier”.

    “Private colleges also offer 300% placement,” he says, referring to colleges that promise three jobs when a student graduates.

    Rates vary according to the courses too and you can expect to pay a heftier ‘donation’ if you score poorly in the class 12 exam. Seats in courses such as electronics and telecommunications engineering or electronics and instrumentation engineering are available for. 1.5 lakh. “It is difficult to get you a seat if you score lesser than 65% in class 12,” says Prabhat Sinha, who has put up an advertisement on olx.in. “But we can make it possible if you are ready to pay one-and-a-half times the cost.”

    Medical seats start at Rs 35 lakh for colleges affiliated to MGR University. A seat in a deemed university costs 28 lakh to 30 lakh.

    Sinha offers medical seats in Chennai Medical College, Raja Muthiah College , Sathya Sai Medical College and Meenakshi Medical college, among others. Medical seats are cheaper elsewhere , with seats in Karnataka on sale for 23 lakh and seats in Delhi available for as little as 10 lakh.

    For engineering aspirants , a mechanical engineering seat at Amity University in Noida can be bought for 4 lakh to 5 lakh and the rate at Galgotias College of Engineering and Technology, also in Noida, is 5 lakh to 8 lakh.

    When contacted, colleges said they were unaware about such agents or advertisements. “We have no information about these activities. These are all unwanted elements who want to use the good name of SRM university and make some money,” says SRM University vicechancellor Ponna Vaiko.

    “All admissions at SRM are via the entrance exam and those who opt for direct admissions have to approach the admissions office directly and not through any agent,” he adds.

    Ill. Senate president champions online gambling

    SPRINGFIELD, Ill. — Illinois should move quickly to establish itself as an international leader in online poker and other types of Internet gambling, state Senate President John Cullerton said Tuesday, claiming the payoff could amount to hundreds of millions of dollars.

    The Chicago Democrat is introducing legislation that would create a Division of Internet Gaming within the state lottery. Under his proposal, that new division would make Illinois the first state to jump into the world of online gambling. Illinois is already the first to sell lottery tickets online.

    “The state could organize the first major poker pool, garner worldwide popularity, and position itself as a ‘hub’ for multi-state and international iGaming,” Cullerton said in a letter to the governor and other legislative leaders.

    Cullerton said it is imperative for Illinois to act this spring, before other states take the lead.

    But others urged caution.

    “We should not rush to vote on this proposal, blinded by some dollar signs,” said Patty Schuh, spokeswoman for Senate Minority Leader Christine Radogno, R-Lemont. “This is a massive expansion of gambling that deserves serious consideration.”

    The U.S. Justice Department says states can offer Internet gambling so long as it doesn’t involve betting on sports teams. The ruling allowed Illinois to sell lottery tickets online, but it also opened the door to much broader gambling options.

    Cullerton’s proposal would allow online gambling by anyone who is 21 or older and physically in the state of Illinois. It would also let people set maximum amounts of time and money they could spend gambling.

    Sen. Terry Link, D-Waukegan, chairs the Senate Gaming Committee and is a frequent advocate of expanding gambling in Illinois. He praised Cullerton’s proposal as having “unlimited potential” and said it would not cut into business at Illinois casinos.

    Millions of people are already gambling online, Link said, so there’s no reason Illinois shouldn’t get some of that money. And if Illinois acts quickly, he said, it could establish itself before other states jump in.

    “It’s better to be first than to be last,” Link said.

    ___

    The legislation is HB4148

    Online: http://bit.ly/JtF5jE