nettime SONY admits that CD/44.1PCM is inferior

2006-02-12 Thread David Mandl
The people at Irdial Discs deconstruct (to put it politely) Sony's  
hype about their newest audio technology:

http://www.irdial.com/scum.htm

-

Sony:

...you don't have to throw out your old CDs, although once you have  
experienced SACD you may want to.

Irdial:

...the true sound in every recording from the inception of digital  
mastering in the PCM era, from Betamax PCM 501 up to the CDRs and  
Exabytes that are now regularly sent to pressing plants, is now, by  
the admission of SONY lost to mankind. The true sound of these  
recordings will never EVER be heard by anyone, ever. Of course all of  
the labels that took our advice and mastered onto tape have been  
spared this disaster, but the truth is most record labels deafly  
embraced CD and digital mastering, and now, we all have to pay.

-

Wherever you stood in the vinyl vs. CD debate, it was not hard to see  
this coming.  For years people have been predicting (or joking) that  
the record companies would at some point try to make everyone replace  
their entire music collections *again*.  No one ever lost money  
overestimating the chutzpah of the record industry.

But much more interesting is the question about information-loss that  
Irdial alludes to above.  Will every record recorded in the last  
twenty years sound like digital garbage to listeners in 2015 (the way  
the amazingly accurate digital samplers of the eighties sound like  
shit now)?

There are also frightening parallels here with Nicholson Baker's  
brilliant Double Fold (about libraries burning gorgeous old books  
and newspapers en masse to replace them with unreadable microfilm).   
Ditto for the situation with genetically engineered crops, but I'll  
save that for another time.

--Dave.

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Re: nettime Project for a New Atlantis [pt 12]

2005-09-17 Thread David Mandl
True, of course, but the word cover is a bit tricky with Led
Zeppelin.  They famously stole dozens of old blues songs songs, in
some cases almost note-for-note, and simply credited them to
Page/Plant, collecting all the royalties for themselves.  Nice work
if you can get it.

There are tapes floating around with forty minutes of Led Zeppelin
songs recording thirty years earlier, some of them virtually identical
to LZ's version.  It's amazing how nervy they were.  They were
actually sued successfully in at least one or two cases.

--Dave.



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Re: nettime commercial communism

2005-07-04 Thread David Mandl
This is a fascinating subject.  A few comments, if this thread isn't cold yet:

The days of the paternalistic corporation are over in the U.S., but a handful of
companies still provide a pretty warm cocoon for their employees.  These tend 
to be
some of the bigger and more elite financial companies, and so the beneficiaries
tend to be pretty privileged workers, but it's still surprising what goes on at
some of these places.  (The top executives at nearly every company live in a
virtual parallel universe that few people outside of their circle even know
anything about, and those people are getting more and more lavish perks all the
time, but that's another story.)

In the extreme cases, these companies form almost a SEPARATE GOVERNMENT--not in 
the
sense of lawmakers or -enforcers, but in the sense of protection of their
citizens.  For example, some of them have international SOS numbers for 
employees
to call if they're in trouble anywhere in the world.  This may not seem like 
much,
but it's very revealing about the attitude toward government services at these
elite corporations.  Basically, in cases where it really matters, they wouldn't
dream of relying on the government to take care of them--it's just understood 
that
public services are not good enough for them.  (And this is sort of true, in the
sense that the public service infrastructure is in a constant state of decay--a
vicious cycle, I guess.)  They always employ private security, some of it much 
more
elaborate (and probably more on the ball) than the Feds. Similarly, the idea of
putting your kids in public school (even in wealthy neighborhoods) is often not
even considered: When you're a high-level exec and you relocate, you look for a
house and you look for a private school.

There's a fine but real line between the usual dot-com type benefits (on-site
massages, foosball, or whatever) and other kinds of services that say, We want 
to
control everything ourselves, and not rely on the same public agencies as the
hoi-polloi.  Yes, some of this is the standard behavior of rich people, but 
there
have also been subtle changes in the politics of benefits in the past couple 
of
decades--I'd say Post-Reagan, significantly.

I hate to quote Tom Wolfe, but there was an interesting throw-away line in 
Bonfire
of the Vanities.  The rich, Upper East Side bond trader takes a cab/limousine 
to
work every morning, and this horrifies his father, a genuine Old Wall St. 
aristo,
who took the Lexington Ave. subway to work (a twenty-minute ride) every day of 
his
life. Forty years ago, it would have been inconceivable to actually take a limo 
to
work every day.  Now it's standard practice.  For people at a certain level, the
subways just don't exist.

--Dave.

On Tue, 28 Jun 2005, brian carroll wrote:

  hi Craig,

  .US corporations have long seemed to have
   become communal organizations by way of
   childcare, housing, eating, healthclubs,
   recreation when off work with employees,
   etc. and the role of ideology in culture
   is reinforced by these same mechanisms.

 For a minuscule portion of the working population of the .US perhaps,
 but for the vast majority (and still growing) they get nothing of the
 sort from their paymasters.

  true, most have none of it and few have some of it,
  though i wonder if it may function as part of the
  'ideal' that drives ideology that this system does
  work at some point in some way- and possibly there
  is an element of the casino logic to it, to win big
  by landing in such jobs with the right education, etc.

  the yearly lists of 'best corporations to work for'
  judge these based on employee perks, etc. and during
  the dot-com boom in San Francisco, getting massages
  or playing ping-pong may also qualify in some way
  as to how the 'corporate campus', lifestyle even,
  may not be benign fun but a human resources gambit.
  Google retains this lifestyle and now is at the top,
  and yet it almost function as if a secret society,
  having replaced the machined IBM uniformed workforce.

[...]

--
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nettime NASA photo analyst: Bush wore a device during debate

2004-10-30 Thread David Mandl
http://www.salon.com/news/feature/2004/10/29/bulge/index.html

[Nelson's photos at the URL above]

NASA photo analyst: Bush wore a device during debate
Physicist says imaging techniques prove the president's bulge was not
caused by wrinkled clothing.
by Kevin Berger

Oct. 29, 2004 | George W. Bush tried to laugh off the bulge. I don't
know what that is, he said on Good Morning America on Wednesday,
referring to the infamous protrusion beneath his jacket during the
presidential debates.  I'm embarrassed to say it's a poorly tailored
shirt.

Dr. Robert M. Nelson, however, was not laughing. He knew the president was 
not telling the truth. And Nelson is neither conspiracy theorist nor 
midnight blogger. He's a senior research scientist for NASA and for 
Caltech's Jet Propulsion Laboratory, and an international authority on 
image analysis. Currently he's engrossed in analyzing digital photos of 
Saturn's moon Titan, determining its shape, whether it contains craters or 
canyons.

For the past week, while at home, using his own computers, and off the 
clock at Caltech and NASA, Nelson has been analyzing images of the 
president's back during the debates. A professional physicist and photo 
analyst for more than 30 years, he speaks earnestly and thoughtfully about 
his subject. I am willing to stake my scientific reputation to the 
statement that Bush was wearing something under his jacket during the 
debate, he says. This is not about a bad suit. And there's no way the 
bulge can be described as a wrinkled shirt.

Nelson and a scientific colleague produced the photos from a videotape, 
recorded by the colleague, who has chosen to remain anonymous, of the 
first debate. The images provide the most vivid details yet of the bulge 
beneath the president's suit. Amateurs have certainly had their turn at 
examining the bulge, but no professional with a r=E9sum=E9 as impressive 
as Nelson's has ventured into public with an informed opinion. In fact, no 
one to date has enhanced photos of Bush's jacket to this degree of 
precision, and revealed what appears to be some kind of mechanical device 
with a wire snaking up the president's shoulder toward his neck and down 
his back to his waist.

Nelson stresses that he's not certain what lies beneath the president's 
jacket. He offers, though, that it could be some type of electronic 
device -- it's consistent with the appearance of an electronic device worn 
in that manner. The image of lines coursing up and down the president's 
back, Nelson adds, is consistent with a wire or a tube.

Nelson used the computer software program Photoshop to enhance the texture 
in Bush's jacket. The process in no way alters the image but sharpens its 
edges and accents the creases and wrinkles. You've seen the process 
performed a hundred times on CSI: pixelated images are magnified to 
reveal a clear definition of their shape.

Bruce Hapke, professor emeritus of planetary science in the department of 
geology and planetary science at the University of Pittsburgh, reviewed 
the Bush images employed by Nelson, whom he calls a very highly respected 
scientist in his field. Hapke says Nelson's process of analyzing the 
images are the exact same methods we use to analyze images taken by 
spacecraft of planetary surfaces. It does not introduce any artifacts into 
the picture in any way.

How can Nelson be certain there's some kind of mechanical device beneath 
Bush's jacket? It's all about light and shadows, he says. The angles at 
which the light in the studio hit Bush's jacket expose contours that fit 
no one's picture of human anatomy and wrinkled shirts. And Nelson compared 
the images to anatomy texts. He also experimented with wrinkling shirts in 
various configurations, wore them under his jacket under his bathroom 
light, and couldn't produce anything close to the Bush bulge.

In the enhanced photo of the first debate, Nelson says, look at the 
horizontal white line in middle of the president's back. You'll see a 
shadow. That's telling me there's definitely a bulge, he says. In fact, 
it's how we measure the depths of the craters on the moon or on Mars. We 
look at the angle of the light and the length of shadow they leave. In 
this case, that's clearly a crater that's under the horizontal line -- 
it's clearly a rim of a bulge protruding upward, one due to forces pushing 
it up from beneath.

Hapke, too, agrees that the bulge is neither anatomy nor a wrinkled shirt. 
I would think it's very hard to avoid the conclusion that there's 
something underneath his jacket, he says. It would certainly be 
consistent with some kind of radio receiver and a wire.

Nelson admits that he's a Democrat and plans to vote for John Kerry. But 
he takes umbrage at being accused of partisanship. Everyone wants to 
think my colleague and I are just a bunch of dope-crazed ravaged Democrats 
who are looking to insult the president at the last minute, he says. And 
that's not what this is about. This is 

nettime Citibank forced to suspend private-banking operations in Japan

2004-09-21 Thread David Mandl

This is quite a serious penalty (unless it gets overturned).  U.S.
regulators take note.

The proof that the authorities in Japan, the EU, etc., are actually feared 
is in Citibank's respectful, no-bullshit response (ditto Microsoft, for 
example--though of course they contested the charges against them).  The 
Financial Times reported that officials of Citibank Japan sincerely 
apologized in their statement.  In contrast, Morgan Stanley was so flip 
about a fine imposed on them in the U.S. last year that they were actually 
scolded by the government and made to issue another statement apologizing 
for the first one.

 --Dave.

-

Citigroup Is Dealt Blow
By Japanese Regulators

By ANDREW MORSE
Staff Reporter of THE WALL STREET JOURNAL
September 17, 2004 1:48 p.m.

TOKYO -- Japanese financial authorities ordered Citigroup Inc. to
suspend its private-banking operations, in one of the harshest
penalties ever handed down against a bank in Japan.

The Financial Services Agency on Friday it would revoke subsidiary
Citibank N.A.'s effective license to serve high net-worth customers.
In a strongly worded statement, the financial regulatory body
criticized the unit for not having properly functioning internal
controls, adding that it found a long list of serious violations of
laws and regulations and extremely inappropriate transactions.

The order shuts down one Tokyo branch, as well as satellite offices
in three major cities.

The FSA said that over a three-year period, Citibank employees misled
customers about the risk involved in some products, tied loans to the
purchase of specific investments, allowed transactions that looked
like money laundering and extended loans that would later be used to
manipulate publicly traded stock, it said. Regulators also said
Citibank's Japanese operations had ignored warnings from Citibank
branches in other countries about problems with some clients.

The punishment is the strongest against a bank since a Credit Suisse
unit had its license pulled in 1999, according to FSA officials. The
officials said that details of the investigation had been passed on
to another regulatory body that might consider criminal charges
separately.

The closure of the private-banking business in Japan will have little
material impact on Citigroup's overall performance. Citigroup posted
net profit of $17.9 billion in 2003, of which only 3% came from the
global private banking business. Though the unit's services are
heavily promoted in Japan, they have fewer than 5,000 customers.

Still, the severity of the punishment and the nature of the
complaints will certainly further damage Citigroup's
already-tarnished reputation. Earlier in the week, the financial
services giant acknowledged that a huge trade it conducted in thinly
traded European government bonds was problematic and had invited the
scrutiny of local regulators, as well as the ire of other banks that
lost millions of dollars in the trade.

It's likely that Citigroup's other businesses in Japan will suffer in
the wake of the FSA's actions. Japanese clients often halt business
transactions with group companies when one unit falls foul of
regulators. Citibank, which has been operating in Japan since 1902
and has 9,000 employees, also has a retail banking business and a
securities arm in Japan.

Citigroup has been on a campaign to rehabilitate its image after
scandals involving controversial financing arrangements for troubled
clients like Enron Corp. and WorldCom Inc. brought regulatory
inquiries and shareholder lawsuits. Citigroup's reputation is also
scuffed by a research scandal in which a high-profile analyst wrote
glowing reports of companies Citigroup was doing business with.

The FSA investigation portrayed a culture within Citigroup's Japan
operations that tolerated lax and potentially criminal practices as
long as aggressive sales targets were met. FSA officials said that
Citibank salespeople routinely took advantage of Japanese customers,
many of whom were wealthy, suggesting unrealistic returns on
investments and encouraging them to purchase complicated, derivative
products they didn't understand.

In some cases, the salespeople sold derivative products based on U.S.
Treasuries and Japanese government bonds at prices well above what
the market would have indicated their price should be. Though FSA
officials declined to say how much higher than fair value the prices
were, they indicated Citibank salespeople put unreasonably high
markups on the products.

The private-banking arm also violated Japanese banking law by
brokering and soliciting unauthorized products, including foreign
real estate investments, foreign life insurance policies and deals
involving art.

Citibank said it was taking the appropriate measures to prevent the
situation reoccurring. Six officers, including former chief country
officer for Japan Charles Whitehead and head of private banking
Koichiro Kitade, have left the 

Re: nettime The Art of Sweatshops

2004-08-10 Thread David Mandl
Joy [EMAIL PROTECTED] wrote:

 *Some US firms prefer cons to Indians*

 USA Today
 Ontario, July 8
 [http://www.hindustantimes.com/news/5922_873417,00150022.htm]

 But the convicted workforce elicits as much dread as
 interest. Companies flinch at the prospect of a public-relations
 backlash should news leak out that they employ hardened criminals.

LOL!  I was naive enough to believe, after reading the beginning of that
sentence, that it would end with something like, should news leak out
that they employ sub-sub-sub-minimum-wage slave-labor in prisons to do
work that people should be getting real salaries and benefits for.  
Honestly.  But, damn, it probably would be the hardened criminal aspect
that would get my fellow Americans all riled up.  What a country.

--Dave.

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nettime Un-Liberating the Airwaves: WFMU's Ken Freedman on the FCC

2004-05-13 Thread David Mandl
Un-Liberating the Airwaves
WFMU's Ken Freedman on the Post-Janet Jackson FCC
Interview by Dave Mandl
Brooklyn Rail (http://brooklynrail.org)

Dave Mandl (Rail): How have things changed for radio broadcasters in
the wake of Janet Jackson's Super Bowl performance?

Ken Freedman: Things have changed drastically in recent months. As
recently as last fall, the Federal Communications Commission (FCC) issued
a series of decisions that loosened their language rules
considerably--ruling, for example, that the word fuck was permissible if
used non-literally, as an adjective. Things have now not only reverted to
the way they were before, they've become much more rigid than ever.
Although there have not been any new rules passed into law yet by either
the FCC or Congress, it's an entirely new landscape for TV and radio
broadcasters. And as is always the case with the FCC, there are absolutely
no written guidelines or definitions to help broadcasters determine what
is legal speech and what is illegal speech.

Rail: Does this affect mostly high-profile broadcasters, or is no one
under the FCC's radar any more?

Freedman: It's safe to say that no one is under the FCC's radar. Although
most language fines have been leveled at larger commercial broadcasters,
the FCC has historically fined many small community and college stations
as well. And small non-commercial stations have (historically) had to pay
the same fines as larger commercial stations. I think it's also safe to
say that the FCC's most inexplicable and unfair language decisions have
been leveled at small non-commercial stations. The best example of this
was KBOO's airing of a Sarah Jones poem called Your Revolution, which
was clearly a feminist poem, not sexual in nature, but it contained the
phrase blow job. The FCC gave KBOO (a small, non-commercial, community
station in Portland, Oregon) a $7,000 fine. KBOO spent double that in
legal bills fighting the fine, but they eventually prevailed. Bear in mind
that this case was several years ago, well *before* the current crackdown
began.

Rail: So why now? Is this really just because Janet Jackson flashed a
breast on TV? Are there politics at work here--say, kissing up to the
religious right? Or is this crackdown the kind of thing that some FCC
member was dreaming of already, and Boobgate provided a golden
opportunity?

Freedman: The Super Bowl incident just added momentum to a process that
was already in place. Due to rulings like last October's Bono ruling, TV
and radio stations had been getting more and more adventurous with regard
to sexual talk and antics on the air. For years, one of the FCC's five
commissioners (Michael Copps, a Democrat) had been lobbying for more
severe FCC punishments for language violations. He had been getting
ignored until earlier in 2003, when several highly publicized incidents
(including the Opie and Anthony sex at St. Patrick's broadcast, and the
Madonna-Britney kiss) started giving him some traction. Then there was the
Bono ruling, which really started the censorship wheels rolling. And then
the Super Bowl just ignited it all and turned it into a hot political
issue in an election year.

The FCC claims they received 200,000 emails in the days following the
Super Bowl. (They now claim that closer to 800,000 emails and letters have
been received about this.) This put enormous pressure on Michael Powell
(FCC head honcho) to deal with it. Powell took an enormous public black
eye over the FCC's ownership issue last year [when the FCC relaxed
restrictions on the number of stations individual companies could own]. Up
until the Super Bowl, the ownership issue was the FCC's most popular
debate ever, and the public came out largely *against* the FCC's stance on
it. Powell couldn't politically afford to ignore Boobgate after the
ownership fiasco. In fact, Powell did a 180-degree about-face on language.
Up until the Super Bowl, Powell had a fairly sane approach to the
censorship issue. He used to make public pronouncements that he didn't
want the FCC to become the nation's nanny, etc. No more.

This crackdown also has to be taken in historical context as yet another
in a series of language crackdowns that the FCC periodically undertakes.
But there's a big difference--during this crackdown, it looks like there
will be new federal laws passed regarding language and censorship. That's
never happened before. So even after this political storm subsides,
broadcasters may have a whole new set of federal laws on the books that
they will have to deal with for years.

Rail: You mentioned the fact that this is happening in an election year.
What's the significance of that? Is there pressure on the FCC from
senators or the White House, for example?

Freedman: There has been a great deal of pressure on the FCC from senators
and congresspeople, over the indecency issue as well as other issues. But
mostly, the indecency issue has simply become a point that incumbents can
point to during the re-election 

nettime We don't support that

2004-02-24 Thread David Mandl
Excellent article in Salon describing the nether world of customer
service in the twenty-first century (what I like to call the No-Service
Economy), from someone who spent a lot of time working there:

http://www.salon.com/tech/feature/2004/02/23/no_support/

The explicitly stated goal of these people is to GET YOU THE HELL OFF THE
PHONE AS SOON AS POSSIBLE--no more, no less.

If that's not enough for you, there's an interesting discussion of the
article on Slashdot, with some more illuminating first-hand accounts,
here:

http://slashdot.org/articles/04/02/23/163241.shtml

--Dave.

-- 
Dave Mandl
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Re: nettime Era of LibreSelf-Deception Society Manifesto

2004-01-10 Thread David Mandl
On Fri, 9 Jan 2004, Morlock Elloi wrote:

 Generic capitalism bad something else good essays are FUCKING
 BORING. NO ONE READS THAT. MAKES YOU LOOK DUMB AND NOT BEING LAID IN
 MONTHS.

So if we prevent everyone from getting laid for a couple of months
they'll all turn against capitalism?  Let's try it.  Except me--I
already dislike capitalism.

   --Dave.

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nettime CyberINsecurity: The Cost of Monopoly

2003-09-25 Thread David Mandl
http://www.ccianet.org/papers/cyberinsecurity.pdf

CyberINsecurity: The Cost of Monopoly
How the Dominance of Microsoft's Products Poses a Risk to Security

[From the introduction:]

Computing is crucial to the infrastructure of advanced countries. 
Yet, as fast as the world's computing infrastructure is growing, 
security vulnerabilities within it are growing faster still. The 
security situation is deteriorating, and that deterioration compounds 
when nearly all computers in the hands of end users rely on a single 
operating system subject to the same vulnerabilities the world over.

Most of the world's computers run Microsoft's operating systems, thus 
most of the world's computers are vulnerable to the same viruses and 
worms at the same time. The only way to stop this is to avoid 
monoculture in computer operating systems, and for reasons just as 
reasonable and obvious as avoiding monoculture in farming. Microsoft 
exacerbates this problem via a wide range of practices that lock 
users to its platform. The impact on security of this lock-in is real 
and endangers society.

Because Microsoft's near-monopoly status itself magnifies security 
risk, it is essential that society become less dependent on a single 
operating system from a single vendor if our critical infrastructure 
is not to be disrupted in a single blow. The goal must be to break 
the monoculture. Efforts by Microsoft to improve security will fail 
if their side effect is to increase user-level lock-in. Microsoft 
must not be allowed to impose new restrictions on its customers - 
imposed in the way only a monopoly can do - and then claim that such 
exercise of monopoly power is somehow a solution to the security 
problems inherent in its products. The prevalence of security flaw in 
Microsoft's products is an effect of monopoly power; it must not be 
allowed to become a reinforcer.

Governments must set an example with their own internal policies and 
with the regulations they impose on industries critical to their 
societies. They must confront the security effects of monopoly and 
acknowledge that competition policy is entangled with security policy 
from this point forward.

[snip]

-- 
Dave Mandl
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nettime New from Autonomedia: BEHIND THE BLIP, by Matthew Fuller

2003-07-11 Thread David Mandl
New from Autonomedia...

BEHIND THE BLIP: ESSAYS ON THE CULTURE OF SOFTWARE
by Matthew Fuller

Software actively shapes the way we know, see, and do things in the 
world.  In BEHIND THE BLIP, a far-reaching and strikingly original 
collection of essays on the culture of software, new-media critic 
Matthew Fuller sets out some of the ways in which people are opening 
this process up to greater debate and experimentation.  BEHIND THE 
BLIP brings together insights from social studies of science and 
philosophies of technology, with accounts and ideas from hackers, 
artists, inventors, programmers, and other users of software.

BEHIND THE BLIP surveys the potential grounds for software criticism 
and proposes some currents in software that call for new ways of 
thinking about the subject.  It also offers numerous case studies 
taken from Fuller's own experience participating in the production of 
a popular experimental web browser; a site parasiting search engines 
to hack racism on the net; and a large-scale disassembly of the 
world's favorite writing machine, Microsoft Word.  BEHIND THE BLIP 
refuses to stop asking questions or settle for what's served up on 
the desktop.  Along the way, fundamental possibilities for 
technology, computers, and culture are set loose.



While most institutions are still trying to figure out what to do 
with 'new media,' some of the best new-media artists and theorists 
have already moved on to the next paradigm: the study of software 
culture.  Matthew Fuller's excellent collection is the first 
monograph in this emerging field.  Combining solid understanding of 
theory and modern art history with the groundbreaking practical work 
in software culture, Fuller brilliantly analyzes the tools which we 
all use every day to interface with the world and each other: web 
browsers, search engines, word processors.  What Fuller gives us is 
not just a usual book of theory but rather a kind of software--a 
'critical help system' to help us understand what is really going on 
behind the menu and the windows of our computer screens.
--Lev Manovich, Visual Arts Department, University of California, San Diego;
author of THE LANGUAGE OF NEW MEDIA (MIT Press)



A compelling hybrid of sci-fi style merged with hard-edged software 
criticism from the perspective of a very dissatisfied customer.  This 
book is your chance to ingest the venom and bile of Bill Gates's evil 
twin.
--Critical Art Ensemble



Matthew Fuller is Reader in Media Design at Piet Zwart Institute, 
Rotterdam.  As a member of the group I/O/D and collaborator with the 
group Mongrel, he participated in some of the key experiments in 
software that ground this book.  He is the author of ATM (Shake 
Editions) and co-editor of README! ASCII CULTURE AND THE REVENGE OF 
KNOWLEDGE (Autonomedia).

BEHIND THE BLIP is published by Autonomedia: http://www.autonomedia.org

Paper, $14.95, 6x9, 165 pages, ISBN 1-57027-139-9
Information: http://www.autonomedia.org/behindtheblip
Individual orders and course adoptions: Autonomedia, Phone/Fax (718) 963-2603
email: [EMAIL PROTECTED]
Regular mail orders: PO Box 568, Brooklyn, NY. 11211-0568

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nettime Quick note on Weill, Spitzer, and the N.Y.S.E.

2003-03-25 Thread David Mandl
However you feel about New York Attorney General Elliot Spitzer's 
motives in his prosecution of Wall St. criminals, you've got to 
admire the guy.  He may merely be grandstanding (with his eye on a 
higher political office), and naturally he's been ignoring deeper 
Wall St. issues while focusing on the prosecution of high-profile 
bogeymen like Jack Grubman, but the guy just keeps drawing blood.

The latest: Sandy Weill, the C.E.O. of Citibank, was recently 
nominated as a director to represent public investors on the board 
of the New York Stock Exchange.  He withdrew his nomination a few 
days later after a public outcry, mainly from Spitzer, who said:

I can think of few people less-suited to represent the public 
interest on the New York Stock Exchange board than Sandy Weill.  His 
company is paying one of the largest fines in history for 
perpetrating one of the largest frauds on the investing public. To 
imagine he should be the voice of the small investor is ludicrous.

I was stunned to read this, even though it's so painfully obvious. 
The fact is that even though Citibank has just been fined a 
staggering $400 million for defrauding investors (with Weill directly 
implicated in the chicanery, incidentally), the public perception 
of them really hasn't changed at all.  This is just not the kind of 
thing government officials say publicly about the head of Citibank. 
It was great to read it on the front page of the Wall St. Journal.

--Dave.

-- 
Dave Mandl
[EMAIL PROTECTED]
[EMAIL PROTECTED]
http://www.wfmu.org/~davem

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nettime Christopher Hill, R.I.P

2003-02-26 Thread David Mandl
Christopher Hill, the great Marxist historian and author of The 
World Upside Down died this past Monday.

Obituary at:

http://www.guardian.co.uk/obituaries/story/0,3604,902955,00.html

-- 
Dave Mandl
[EMAIL PROTECTED]
[EMAIL PROTECTED]
http://www.wfmu.org/~davem

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