The Flying Car Gets Real

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(popsci.com) The team at Terrafugia is about to fulfill the fantasy of every driver - pilot: a consumer vehicle that can take to the highways and the skies. All they have to do is finish the first one.

Transition is not a flying car. The vehicle, set to go on sale this year, will cruise smoothly on the road and through the sky. It will have four wheels, Formula One–style suspension, and a pair of 10-foot-wide wings that fold up when it switches from air to asphalt. And when the engineers at Terrafugia in Woburn, Massachusetts, let me sit inside their just-finished proof-of-concept vehicle and grab the steering wheel, it’s easy to imagine piloting this thing up and out of traffic, into the open skies.But we’re not talking about a flying car.

The Transition is a “roadable aircraft.” The team makes this distinction clear in conversation, on Terrafugia T-shirts, and in big, blue letters on the side of the trailer outside their shop.The flying car has been a mainstay of our imagined transportation future for as long as there have been automobiles and airplanes: fanciful vehicles that promise to have us commuting like George Jetson.

Scores of garage inventors have spent their lives creating detailed designs, scale models, even working prototypes. In the 1950s, Molt Taylor, a former Navy pilot, flew a few versions of his Aerocar, an plane/car hybrid that attached to a separate, towable set of wings and a tail. But he couldn’t sign up enough customers to turn it into a business.

Now, the people who are closest to making that dream real—putting a car in the air, whatever they call it—are about the least starry-eyed folks you could meet. Terrafugia co-founder Carl Dietrich, 31, winces at that idea. “I’d hesitate to call any of us visionaries,” he says. “We’re engineers.”

Clean Up: Marc Stiller sands a component while Carl Dietrich (kneeling) and Andrew Heafitz look on. John B. CarnettDietrich’s company isn’t hinging its plans on out-of-reach technology or infrastructure. You won’t find any ducted fans or references to antigravity. He and his team are instead building a single-engine, rear-propeller airplane that just happens to be street-legal. They perfected the design in software simulators and are using materials proven in earlier vehicles.

The Transition will meet Federal Aviation Administration standards in airplane mode and satisfy National Highway Transportation Safety Administration and Environmental Protection Agency regulations on the road. You’ll be able to take off only from a runway, and you’ll need a pilot’s license to do so. If you’re stuck in traffic, you’ll remain stuck. As they say, a roadable aircraft.

Unfortunately, that sober approach doesn’t make their task any easier. Dietrich’s team intends to manufacture and sell several hundred Transitions a year. That means doing things that no flying-car hopefuls before them ever have: Build an aircraft that can take potholes and protect its occupants if it slams into a brick wall at 30 miles an hour. Do it cheaply and reliably, again and again. Score passing grades from all those federal agencies. Find someone to insure it.

The Keys of Happiness for New Year 2009 !

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(elpais.com) If you are a skeptic who does not believe in magic formulas for happiness, if the crisis leaves no money for gifts, but with time to devote to others if its goals for 2009 is to achieve a desired good material ... what follows might interest you. It turns out that the pursuit of happiness, well-being subjective sense of personal satisfaction, it is no longer a matter of gurus who give advice, but has entered fully into the sciences if not exact, but experimental. And some of their findings are surprising. Show, for example, that there is more happiness in altruism (welfare of others) that hedonism (egoist pleasure), and sleep more every day that bought a new car. We also know that each of us has a basal happiness dependent genes themselves but they marked a fire, you can manipulate ... provided that proper controls are discovered. What's nice is that those who seek happiness for the diseccionan ingredients are economists, sociologists and psychologists who publish their work in scientific journals with the greatest impact internationally. Yes, there is a scientific pursuit of happiness.

The results of surveys paint roughly the following picture. In rich countries are happier than the poor. Well. But beyond a minimum level of wealth, money and happiness are decoupled: while the purchasing power multiply the feeling of well being just varies. And pointed out the paradox in the seventies economist Richard Easterlin, and corroborated through the years. Abascal Fernandez put it well: "My children have all the game and are not happier than it was my father, who played with a string and a cardboard box on the street: they had less, but the levels of happiness were appear. WVS (World Values Survey) also show that the level of happiness remains more or less stable over the years, as well as differences between countries. In the Nordic countries and in Latin America declared happier than in Asia (Denmark, Colombia, Nigeria and Puerto Rico are usually in the lead). However, after recent data, in July, Ron Inglehart, the head of WVS, drew attention to the fact that since 1981, happiness seems to have increased in 45 of the 52 countries studied. Inglehart and others attribute it to the best quality of life in countries that are beginning to emerge from poverty and the spread of democracy, allegedly linked to more personal freedom. But in any case, the picture provided by the major surveys for many is too blurred, so we try to refine more detailed investigations with a smaller scale. Give some results on age and sex.

In general, there is agreement that young people are happier and retirees. A recent study by the French National Statistics Institute (INSEE) in 1975 after surveys showed that after a pothole on the forty years, the happiness back and reaches its peak during the sixty, "regardless of marital status or income level. And last July, U.S. researchers, including Easterlin analyzed decades of data before concluding that young women are happier state, but 48 years to turn things round and change are the ones who are more satisfied with their lives. In general, we agree that this work shows that happiness is correlated with "tangible benefits in many areas of life," writes Sonja Lyubomirsky, of Stanford University. Among them: more likely to be married than to divorce, more friends and more social support, more creativity and productivity in higher quality work and well paid, more active and vital energy, better mental and physical health, ability to self; and even more longevity. Moreover, "people happy is not selfish, and the literature suggests that they tend to be relatively more cooperative, charitable and focused on others," said Lyubomirsky Review of General Psychology.

But this is not enough to draw conclusions about the welfare formula vital to begin with because it is not possible to know if you're happier to be married, for example, or the reverse. That is, we need to dissect the most happiness and better in the laboratory. The researchers are doing, with curious results. They have sharpened their weapons, ie, have developed new methods to measure happiness, apart from the survey stated. Kahneman is the author of one of them. Several studies suggest that happiness that individuals declare when asked on how they feel overall is very influenced by irrelevant factors such as the formulation of questions or to just have a good or bad experience, a classic example: patients who undergo a test to pass it off saying less wrong if the last few minutes are pleasant, even at the cost of extending the review.

Thus, Kahneman asked subjects of the experiment to assign a degree of happiness to each of their daily actions, reliving, not only giving an overall value. With this method, conducted and published in Science in 2004 with almost one thousand women who reported how successful their efforts were: sex, going out with friends and relax before television appeared high on the list, while little sleep a very busy work schedule was very unpleasant. Again, family and friends reveal important but not the money (covered the basics). And this is not the only anti-intuitive result on happiness. There is more like that of cancer surgery patients may feel happier than healthy people, that victims of serious accidents declare high levels of happiness, or that, by contrast, people who have not won the lottery, soon after the shock, happier than ordinary mortals. The explanation might be in the genes.

Several studies in twins indicate that there is a kind of permanent staff level of happiness, who spent time around the world tends to come back no matter what happens, or almost. In 1996 a 4,000 pairs of twins suggested that the sense of well-being with one's life is genetic in at least 50%. And this year, British and Australian researchers have returned to obtain a similar result. Another anti-intuitive result: it generates more happiness spend money on others than in ourselves. He has shown work by Elizabeth W. Dunn (University of British Columbia, Vancouver, Canada) in Science last March, which gave money to volunteers, they were instructed on how to spend it and then measured their levels of satisfaction. This result coincides with the greatest happiness which correlates with actions to help others and to promote virtue. Altruism, the researchers conclude, puts on the track of happiness much more than the pursuit of pleasure. "Given that people seem to overlook the benefits, policies to promote it could be a good way to translate into more national wealth more national happiness," writes Dunn.

But then, if money is not the happiness and personal pleasure nor why today's society seems to focus on these factors? Is there a general blurring? The cause could be an illusory phenomenon that Kahneman described in Science and other publications in 2006. "When people consider the impact of a single factor in their welfare, such as income, but not only, is prone to exaggerate its importance, we call this trend illusion focus (...). This illusion can be a source of errors in making important decisions, "the expert wrote. This also helps to estimate the happiness of others. "Everyone was surprised at what can be happy that paraplegics," Kahneman said. "The reason is that there are paraplegics all the time. They enjoy their meals, their friends. Read the news. It has to do with where the focus is." All these experiments have one ultimate goal: to help improve the degree of personal happiness. It is not a utopia, say the researchers. Genes, after all, leave a space of 50% to autoexperimentación. You can start with this Christmas: ask for less and Kings, however, more generous ... It produces more sleep every day to buy a car The women say happier than men to 48 years Welfare depends on genetics, but the manipulation is possible Creativity, energy and activity and the vital importance of quality work "People are not happy selfish, tending to be more cooperative and charitable"

Altruism outweighs hedonism in getting satisfaction - equally well-being depends on the genes and our performance - a 40 hole, with the peak 60.

Merry Christmas 2008 !!! ...

b










It's Christmas every time a brother smile and hold out his hand.

It's Christmas every time you're in silence to listen to others.

It's Christmas every time you don't accept those principles that banish the oppressed on the margins of society.

It is Christmas every time you hope to those who despair at the physical and spiritual poverty.

It is Christmas every time you humbly acknowledge your limits and your weakness.

It is Christmas every time we allow the Lord to revive it to others.

Mother Teresa of Calcuta.

Tips for a Happy New Year 2009

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Carlos Slim's letter to its employees: internal communication in times of crisis. Carlos Slim is the richest man in the world. He owns a large number of companies and is in the big game of politics and global business. And since last week is circulating on the Internet that would have sent a letter to all its employees with a clear and, according to experts, very accurate description of the global crisis.

Dear colleagues: Like all insurance already heard, we took several weeks for a lot of global financial volatility. Will have heard of banks, insurers and stock exchanges that have gone bankrupt in the world. They see the exchange rate which is over 12 mexican pesos per dollar.

The purpose of this email is not alarm, but try to explain my view the causes of all this. They also explain what they perceive to be doing this at the global level to stop this crisis. Finally giving recommendations and comment on a personal level we are doing at the company. Try to do this it easier to understand but if someone did not understand some of the mail please ask and I can be the explanation.

I ask you to please read the entire document. All sections are very important. For the managers of branches: Please deliver a copy to the people who have no computer.

Background

The crisis in the U.S. beginning with mortgages. For many years the value of the properties was rising steadily. In these years of prosperity are relaxed the criteria for loans. The banks in order to provide more mortgages packaged together or with some financial instruments called for Mortgage Backed Bonds. They were sold in financial markets to other banks, pension funds, insurers and investors.

The problem was when property prices are no longer boarding and in some cases began to decline. As part of the relaxation of lending criteria they mentioned in the preceding paragraph without a hitch some banks lend to buy homes (providing 100% of property value) and in some cases provided to people who had no jobs. Lowering the value of the properties, many people realized that the bank had more money than their property was worth. Therefore stopped paying their mortgages.

The owners of these debts (the owners of the bonds that are mentioned above) went into panic and began to sell their bonds. This caused a stampede to sell these bonds. The famous Bonds are bought and sold like any product (tomatoes, houses, cars). Even when they have guaranteed mortgages, the law of supply and demand govern the value of these bonds. Having a lot more supply that demand values went to the floor. As a benchmark bonds which have a market value of $ 100, were sold to values of $ 35. What's illogical problem is that these bonds are as remember as collateral properties that have not disappeared and that 1) the properties have not had a drop in value of more than 20%, and 2) only 6-7% of the loans have failed to pay. That's why this mortgage crisis has no logic.

However, the owners of these bonds have an obligation to valuate the Bonds in his accounts to the value of what they are worth in the marketplace. By having bought $ 100 and have it valued at prices much lower, the difference is a loss that has to be reflected in the income statement. This has caused many companies such as banks, insurance companies, and so on. they had to report millions in losses and in some cases the banks that have not been able to get more capital have gone bankrupt for this reason.

The problem has grown so that I come to affect banks that did not have these bonds. As background is important to understand that daily between banks lend money to fund its loans and its daily operations (same thing happens in companies like ours). With uncertainty about the outcome of the crisis, banks are raising the cost of borrowing between them.

They are also putting trust between them and no longer provided. This has caused other financial institutions will be bankrupt, infected by the initial problem. But are the rest of the economy as it affect us? The banks by the uncertainty of 'what will happen?', Are leaving companies to give me people. This is happening globally. And if you give it, ask for more guarantees and / or climb up the cost of providing. The companies lower inventory levels, reduce costs and lower profits. This is causing companies to stop selling, have to reduce expenditures and to having to lay off people.

We are experiencing a crisis of confidence globally. As the saying goes' Fear not go on a donkey '. As in many cases when there is any kind of crisis the 'just in case' does emerge from the crisis proportions. This is basically what is happening. The fear of many investors are doing that this crisis will spread like a virus worldwide. Already contagion Europe and Asia. And this affects Mexico (all latin american too), and even if what our leaders refuse this were to beat us (eye deny not incompetent but because the worst thing they can do is to spread panic). How big is the impact?

Much depends on what you do the governments of countries biggest in the world and the speed with which they do and how fast it will impact at companies and individuals.

Governments worldwide are taking action to prevent the economies are slow and give assurance and security to all of us as individuals.

First is the security that we have in the savings banks are safe and that if the bank are gone bankrupt this money. Governments are giving this assurance to people guaranteeing deposits in banks, or in some countries by increasing the amount of deposit insurance. This is to prevent people like us go to the bank to get their money and save it under the mattress. This is a very important measure for the crisis does not spread to ordinary people.

The second thing we are doing is providing governments with financial companies (as between the banks no longer are providing or are too expensive) for these finance companies can turn to companies like ours to provide and the economy can continue in its normal movement. Finally in the U.S. government will allow you to buy the bonds famous for that with more demand for these bonds by the law of supply and demand, may be worth more attached to reality and not based on irrationality. Also for the Banks can sell these bonds to the government and with the money they receive in return be able to lend to companies like ours.

It is important to understand that by the size of the economy of Mexico, unfortunately we can not do much to reverse what is happening globally. As a country we are insignificant for the global problem. But the impact of what happens affects us. For more than a few politicians can blame the current government, is just political propaganda because the government is acting in the best possible way. To give you an idea of the differences in size, in the U.S. went into bankruptcy of the great bourse company Lehman Brothers. The broker-dealer was larger than the entire Mexican financial system together.

Governments are responding to that understand the magnitude of the problem. Its stock took to give results (that is like medicine to the sick, is not immediate reaction).

In the inter we have to prevent them as individuals and as a company. WHAT CAN WE DO?

As Director, I am worried both the continuity of the company as the tranquility of you and advise them and support them as much as possible so we can all do well in these events. It is possible that Mexico's economy will slow. This would impact us as a company and therefore a personal level. That's why some recommendations to embark on a personal level and then informs them that steps are we going to do at the company.

On a personal level

• Caring for your work. Not only implies having the right attitude to go to work every day but try to take care of continuity of the business. Be more efficient, not waste time on the Internet. Do their job in excellence.
• Lower level of personal expenses. It is important to review their personal expenses and seek tighten their belts. Be careful not to spend on things other than necessities.
• Save as much as possible. This becomes even more important because of the uncertainty that currently exists.
• Keep your money in the bank (Disclaimer: what leader or general manager could advise this in Argentina?). For more heed that banks are breaking in the world, it is very unlikely that this happens in Mexico. It is also important to understand that their savings in banks are insured by the federal government. Having their money under the mattress, with a buddy or some cash savings will not necessarily get this guarantee.
• Download as much as possible their debts, especially the debts that have an interest rate that is not fixed. I refer to credit cards and personal loans. Interest rates will rise. Among faster to pay for these loans better. NO pay only the minimum that shows the state of mind.
• Analyze the rate of interest they are paying for their debts. If you need support consult with Human Resources or directly to me.
• Understand the difference between using a credit card and debt with a credit card. The first case is one that uses your card and pays full each month. The second case is one that uses the credit given by the bank or department store. The former has no problem that there is no cost. The second pays interest.
• Credit cards and card shops are a great temptation. Do not take out new and some do it if they can cancel. In the future be able to draw again. By contrast, for mortgage loans (Infonavit, etc.). A fixed rate at this point it's best not to advance payments, but save money. NO time to stop paying their houses. It is their most important assets.
• DO NOT buy bids' Months without Interest. " I am very concerned about this form of marketing that many retailers use to sell more. As the person does not feel at the moment is inclined to make the purchase.
• Be careful with the loans to others. It's very common that someone close to request them borrowed money. If they do come to ask any guarantee (the bill from the car, etc.).. This person may be drowning and may be worn if you do not have much caution.
• Stay healthy. The diseases cost money. Get on a diet, lower weight, exercise, lower cigarettes, lower alcohol.
• Discuss this with your family. It is important that their partners and their children what they understand.

Conclusions

It is uncertain how long this global crisis. People with whom I have talked extensively commented that at least 6 months but can last up to 2 years. The important thing is to first understand that he and learn from the lesson. They also do not get carried away by people alarmist, from journalists to people nearby. That is why we invested time in this release. It is their right to be informed.

Again, the purpose of this email is not alarmed, is informing. Is not the end of the world but if the world is going to affect us. It builds on my long experience and discussion with experts in the field.

On the other hand we have to take action on a personal level and enterprise levels to ensure the continuity of our source of livelihood.
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( Comment form Oscar Granda )

In few words, we must care the money, increasing our income and decreasing ours expenses. Merry Chritmas and Happy New Year 2009 !!!

Air Compressed Car MDI - Energetic Revolution

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MDI (Motor Developement International) is a project initiated and directed by Guy NEGRE the CEO of the company, this mechanical engineer started his career with researches on engines’ efficiency. Among his numerous creations, we particularly remember a rotary distribution device for a R8 GORDINI which produced 152 HP at 11 000 rpm, his light aircraft engines (SACMA) and also the development of a 3.5 liters W 12 engine, for Formula 1 races in the 80s. Throughout his career Guy NEGRE, has designed nearly one hundred engines.

Having in mind the protection of the planet, Guy NEGRE has then concentrated his efforts towards the development of zero pollution engines and created MDI in 1991.The aims of this company are to promote and develop ecological energies; conceive and produce non-pollutant vehicles and systems. Its study office develops new technologies and innovative production methods. MDI is the owner of numerous patents pertaining to the improvement of its compressed air engines and their technical environment; these patents are protected in 127 countries.

The fruit of more than ten years of researches, MDI’s mono-energy engines operate on a totally eco-friendly basis using compressed air stored at high pressure.

These engines are used on vehicles designed for urban use, backup generators or industrial tractors. They are particularly tailored for applications where the torque has an importance and when an averagely moderate power is needed.

Together with the zero pollution engines, some other versions having the same technical basis have also been created by MDI, they are known as the dual-energy engines. In the case of dual-energy engines, an energetic adjuvant (petrol, diesel, oil, alcohol or gas) is burned in an external continuous combustion chamber. These dual-energy engines have more range and the amount of toxic gases released is very low.

Less than two Liters per hundred Kilometers (at 90 Km/h for MiniFlowAIR)
Zero NOx,
3 to 4000 times less unburned HC compared to conventional engines.
3 times less C02 emissions in comparison to classic engines.

These engines will be fitted on production generators. Regarding the vehicles that will be operated using these engines; there will be no pollution when used in towns as they would be operating on the ‘compressed air mode’ only. On the motorway these engines provide a good range thanks to the combustion of the liquid or gas adjuvant.

Finally based on this new technology, MDI has imagined and developed a « thermodynamic theory » which will give rise to further improvement in the years to come, thus creating a real energetic revolution.

All MDI engines have an active chamber and are protected worldwide by patents. They can be used for a wide range of applications, varying from 4 to 75 hp. Hybrid cars will be an alternative for users who need more autonomy, greater travel at 100 kms.

Fifty engineers and technicians work on the compressed air vehicles with the support of TATA Motors, the exclusive licensee for MDI’s technologies in India since 2007. The agreement provides that TATA will support the technologies final development and optimization for their use in India.

( Comment of Oscar Granda )

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The principle of this engine (zero pollution) is simple: to reverse the work of an air compressor machine. Instead of using the rotational energy -from an electric motor- to compress air, it uses compressed air to produce rotational energy in the engine. However, one big problem was the need to store air at high pressures that would be very dangerous potential accidents. Recently, MDI has developed technology more secure, they promise to achieve in the next years, a real energy revolution.

APEC 2008 - Economies to take Economic and Financial Measures to face World Crisis

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Lima, Nov. 23 (ANDINA).- The 21 member economies of the Asia-Pacific Economic Cooperation Forum (APEC) agreed today to take economic and financial measures to solve the world financial crisis, as it is stated on the Declaration of Lima, issued today by APEC leaders. “We welcomed the monetary and fiscal stimulus provided by APEC member economies and will take all necessary economic and financial measures to resolve this crisis, taking the necessary actions to offer hope to those most in need”, indicates the Declaration. Yesterday, Japan offered to grant loans for up to 100 billion dollars to the emerging economies through the International Monetary Fund (IMF) in order that they can overcome the financial crisis that restricts the credit lines of the international banking. China also announced recently that it will grant a fiscal estimulus of 586 billion dollars to maintain its domestic demand, and therefore a growth of at least eight percent a year, percentage that according the World Bank will help to avoid that the commodities’ prices drop in the international market. Likewise, in previous days, Korea announced an extra package of expenditure of 9.3 billion dollars and tax benefits. The financial market strengthening of the region was emphasized as a measure to advance in the regional economic integration. "We emphasized the importance of strengthening financial markets in the region and welcomed the capacity building activities initiated by APEC Finance Ministers to reform capital markets", says the Declaration. According to the Declaration, the present world financial crisis is one of the most serious economic challenges that economies have ever faced, so they will act decisively to face the imminent global economic slowdown. Main paragraphs of this declaration are :

FINANCIAL CRISIS AND TRADE LIBERALIZATION. The current financial crisis is one of the most serious challenges we have faced ever. Act swiftly and decisively to deal with the impending global economic slowdown. We salute the fiscal and monetary stimulus provided by APEC economies and we will take all economic and financial measures necessary to resolve this crisis. Our determination to resolve the global economic situation which is deteriorating and support a rapid, ambitious and balanced conclusion of the negotiations of the Doha Development Agenda of the WTO (World Trade Organization) as outlined in a separate statement issued at the summit.

FREE TRADE AREA APEC. Last year we agreed an ambitious agenda in the long term to strengthen regional economic integration. We welcome the progress reported in 2008 by ministers and officials to achieve this goal. We support the work plan 2009 for the agenda of Regional Economic Integration (REI) to build on the achievements of this year at REI and accelerate efforts in all areas of this agenda. Our goal of free trade and investment and transparency will be achieved through a series of reform measures combined with unilateral liberalization bilateral, regional and multilateral levels. In this regard we welcome the progress made in reviewing the prospects and options for a possible free trade area in Asia-Pacific (FTAAP) as a long-term perspective. We note the council of ministers that although an FTAAP would probably be economically beneficial for the region, its creation also presents challenges. We instruct ministers and officials to take more steps in the consideration of perspectives and options for a possible FTAAP, including making a more analytical work on the economic impact of an FTAAP. In addition to instruct officials to take initiatives designed to promote greater convergence between the economies in key areas of the portfolio of APEC trade and investment, including areas such as customs administration, trade facilitation and border services.

FOOD SAFETY. We are deeply concerned about the impact that volatile prices of food combined with food shortages in some developing economies are having and our achievements in poverty reduction and the increase in real income in the past decade. The poor are particularly vulnerable to higher prices for groceries. We support a fully coordinated response and a comprehensive strategy to address this issue through the Comprehensive Framework for Action developed by the Task Force on Global Food Crisis UN. A rapid, ambitious and balanced conclusion of the negotiations of the Doha Round would bring about substantial improvements in market access and reduce distortions in global agricultural trade.

CORPORATE SOCIAL RESPONSIBILITY (CSR). We agreed that because of rising expectations among consumers, investors and entrepreneurs on global sustainable and responsible business practices, volunteer activities that make up the RSC will remain an important aspect in the business of the 21st century. We encourage companies to incorporate CSR in their business strategies to address social concerns, labor and environmental issues. The development of CSR in the region depend on the different domestic economic, social and cultural rights. Agree to promote CSR practices in APEC economies on a voluntary basis to supplement public policies that promote sustainable development.

FIGHT AGAINST CORRUPTION. Corruption in the public and private sectors is a serious threat to social and economic development in the region. We recognize that when criminal entities operate illegally with corrupt officials from public and private sectors, the result is a culture of impunity and financial exploitation of the legitimate economy. We agree to strengthen our collective will to combat corruption and illegal transnational networks to promote good governance, supporting public-private partnerships, promoting market integrity and transparent financial systems. We recognize that the criminalization of corruption may facilitate greater regional cooperation.

HUMAN SECURITY. Pledge our full cooperation to ensure that the flow of people, goods and investments remain safe and open and that markets operate without interruption. We urge ministers and officials of APEC to continue to contribute to ensuring the economy, trade, investment and financial systems in the region against terrorist attacks or misuse of money laundering using the trade. We welcome the ongoing efforts of the international community to combat piracy and armed assault in marine waters. The frequency and intensity of natural disasters linked to the distortion of weather patterns in the region is increasing. We agreed that significant challenges in this area are growing in complexity and require increased international cooperation. It takes a greater risk reduction, disaster preparedness for emergencies and expansion of local capacities for disaster management. We support efforts to prepare the economy for the accelerated recovery of areas affected by disasters.

CLIMATE CHANGE, CLEAN ENERGY SECURITY AND DEVELOPMENT. Successfully confront climate change will be crucial for new generations. Climate change must be addressed on a global basis, through international cooperation under the Framework Convention on Climate Change United Nations (UNFCCC) in 2009. Reducing poverty will probably be more difficult in developing economies more vulnerable to the adverse effects of climate change. We support an effective long-term cooperation beyond 2012 paa combat climate change under the UNFCCC, according to the principles of common but differentiated responsibilities and respective capabilities. Recognizing that climate change could impede the ability of economies to achieve sustainable economic growth and reduce poverty, we strongly support international cooperation and capacity building for mitigation and adaptation goals to be pursued in the same way. We also call for additional and coordinated efforts to better understand the vulnerabilities caused by the impact of climate change on our oceans and their resources to develop strategies for access to energy resources adequate, reliable, clean and that they can afford is vital to sustain economic prosperity in the region. We reaffirm our commitment to support the energy needs of regional economies by promoting open energy markets and free trade and investment in energy. These markets are crucial for the development of renewable energy and the spread of low-emission energy technologies.

INSTITUTIONAL REFORM. We pledge to strengthen the institutional process of APEC to ensure that it maintains its capacity to respond in a rapidly changing global environment. We welcome the progress in the appointment of an Executive Director of APEC Secretariat for a fixed period. We welcome the offer by Indonesia to host (the summit) APEC in 2013 and the invitation of the prime minister of Singapore to meet again in Singapore in 2009.

( Comment of Oscar Granda )

No doubt, recover the CONFIDENCE in the financial systems is the key to overcome this Global Economic Crisis. More dangerous that the financial Crisis generated in USA, is the panic transmited, the psychological shock and the fear to the people around the world. Presidents and Chairmans must recover the confidence in "the system" to their peoples and take the necessary steps, towards revive the global economy.

Crisis? What crisis? Dubai Hotel to throw US$ 20 mln Party

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DUBAI (AFP) Dubai is throwing a multi-million-dollar extravaganza on Thursday to launch a luxury hotel on an artificial palm-shaped island, despite the bite from the global financial crisis.
More than 2,000 world celebrities are due to attend the event which has been dubbed by the local press as "the party of the decade."

Talk show queen Oprah Winfrey, actors Robert De Niro and Denzel Washington, and former basketball great Michael Jordan are expected to walk the red carpet at the 1.5-billion-dollar "Atlantis, The Palm" hotel.

The evening will peak with a fireworks display that will be "seven times larger than this year's Olympic Games opening ceremony" in Beijing and will be "visible from space", according to the event organisers.

The event will cost a hefty 20 million dollars, said Sol Kerzner, the South African billionnaire, hotel and gambling tycoon, who is organising the bash.

"We built something that's quite extraordinary. We've got to tell the world about it," Kerzner told AFP about the lavish hotel which was built through a joint venture with giant local developer Nakheel.

Nakheel, which is controlled by the Dubai government, has built some of the most iconic projects that have put the Gulf emirate on the world map, including a cluster of islands making the shape of the world.

Located at the trunk-top of the Palm Jumeirah, one of three palm-shaped islands, Atlantis occupies the entire central part of a huge breakwater.
The 1,539-room hotel is made up of two pale rose towers, which are linked by a bridge which houses a 35,000-dollar-a-night suite.

Management says there is a waiting list of guests for the suite.
The Dubai hotel is inspired by the original Atlantis that Kerzner built in the Bahamas but is not
an average 5-star hotel.

It boasts the largest waterpark in the Middle East and a gigantic aquarium in which 65,000 fish, along with an enormous whale shark, swim in 11 million litres of water.

The project was conceived at a time before the global economic crisis began biting the Gulf emirate.

But Kerzner says he is optimistic about the future, adding that he designed the hotel "for the medium to longer term."

The hotel opened unofficially on September 24 and has had an occupancy rate of 80 percent, Kerzner said. "We don't know how long it's going to take for the economy around the world to take off again," he added.

The financial meltdown has affected Dubai and other Gulf emirates.
The local stock market has crashed, losing two thirds of its value since the beginning of the year, and Dubai's real estate sector, a major driving force of domestic economy, has begun to stutter.

Even Nakheel, Kerzner's partner in the Atlantis, announced on Monday that it would scale down its activities.

The bulk of Dubai's tourists come from European countries, mainly Britain, which also have been hard hit by the crisis, and this could have a direct impact on Atlantis.
Kerzner, 73, acquired his fame and fortune in the 1970s and 1980s by building hotels and casinos in South Africa, including the prestigious resort Sun City.

He appears to share with Dubai the same taste for challenges and larger-than-life projects, which might explain the partnership between this Jewish businessman and the Arab sheikhs who rule this Gulf emirate.

(Comment of Oscar Granda)

More dangerous that the financial Crisis generated in USA, is the panic transmited, the psychological shock and the fear to the people around the world. Presidents and Chairmans must recover the confidence in "the system" to their peoples and take the necessary steps, towards reviving their economies and thus revive the global economy.