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Royal Caribbean: Cruise ship approaching Broward home was operating safely (w/ video) – Tampabay.com

Posted on March 9, 2017 by Danzig

Royal Caribbean Cruises said a cruise ship was operating safely and did not touch bottom in response to a Broward County couple's complaint that the boat had stopped within 100 feet of striking their waterfront home.

According to WFOR-TV and WPLG-TV in Miami, the Celebrity Equinox was leaving Port Everglades on Friday afternoon and heading toward the patio of Bill and Yasmine Todhunter.

Bill Todhunter said the cruise ships usually pass hundreds of yards away their home.

"I looked up and I knew something was wrong, because I was looking up at the bow of the boat," Todhunter told WFOR-TV.

Yasmine Todhunter grabbed her cellphone and began recording video, which shows engines on the front of the ship apparently trying to slow its approach. Her husband said the ship had "come aground."

Royal Caribbean Cruises, issued a statement saying the ship was navigating safely " under the guidance of local port pilots" and that it did not touch bottom.

The Equinox is 1,041 feet long and weighs more than 120,000 gross tons.

The Coast Guard told WFOR-TV that ships must report collisions or groundings, and Royal Caribbean has not. The Todhunters said they contacted the Coast Guard and said the agency was planning to investigate.

Royal Caribbean: Cruise ship approaching Broward home was operating safely (w/ video) 03/08/17 [Last modified: Wednesday, March 8, 2017 2:41pm] Photo reprints | Article reprints

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Royal Caribbean: Cruise ship approaching Broward home was operating safely (w/ video) - Tampabay.com

Royal Caribbean announces new cruise ship Symphony of the Seas and opens bookings – Royal Caribbean Blog (blog)

Posted on March 9, 2017 by Danzig

Royal Caribbean Blog (blog)

Royal Caribbean announces new cruise ship Symphony of the Seas and opens bookings
Royal Caribbean Blog (blog)
Royal Caribbean revealed the name of the ship, along with some key details surrounding its sailings. Symphony will arrive in April 2018, and begin service by sailing the Mediterranean in Spring and Summer 2018. Symphony of the Seas will make stops at ...
Royal Caribbean Signs Investment Agreement With Bahamas, Plans to Enhance Private Island CocoCayCruise Critic
Royal Caribbean Commits To BahamasTravel Market Report

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Caribbean operators rally against BVI Airways’ US services – ch-aviation

Posted on March 9, 2017 by Danzig

VI Airlink (V6, Beef Island) and fellow Caribbean operator interCaribbean Airways (JY, Providenciales) have filed a joint objection to BVI Airways (XV, Beef Island) and its recent application to the US Department of Transportation (DOT) for Exemption Authority and a Foreign Air Carrier Permit (FACP).

Last month, BVI Airways applied to the DOT for authority to conduct scheduled foreign air transportation of persons, property, and mail between the prescribed UK Caribbean gateway points via intermediate points, to points in the United States and beyond. It also sought authority to carry out charter foreign air transportation of persons, property, and mail between the British Virgin Islands and any point(s) in the United States.

It plans to offer a 4x weekly service between Beef Island and each of Miami Int'l and San Juan Luis Muoz Marin increasing to daily as market requirements dictate. Operations are on board ARJ-100 quadjets.

VI Airlink and interCaribbean Airways claim, however, that as parties whose operations may be affected by BVI Airways' application, they were never served a copy of its application in violation of DOT requirements.

Further to that, they question government's impartiality given an alleged investment made to stimulate demand for flights between the BVI and the United States. The two parties reference a Caribbean Journal press report wherein BVI Premier Orlando Smith is quoted as saying his government has "invested" USD7 million into the development of flights between Miami Int'l and Beef Island. BVI Airways, they claim, had previously claimed the funds mentioned to be a loan.

This issue of direct financial support, they argue, will create a conflict of interest between locally-owned airlines and the BVI government given the latter's purported role in BVI Airways' operations.

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Caribbean operators rally against BVI Airways' US services - ch-aviation

Royal Caribbean Finalizes Agreement With The Bahamas To Grow Tourism To The Destination – Yahoo Finance

Posted on March 9, 2017 by Danzig

MIAMI, March 8, 2017 /PRNewswire/ -- The world's largest cruise line, Royal Caribbean International, has committed to a multi-year agreement with the island nation of The Bahamas that will help grow tourism to the destination, rapidly increase the cruise line's employment of Bahamian nationals and invest in hospitality training to develop talent in the country.

At a signing ceremony attended by Perry Christie, Prime Minister of The Bahamas and Michael Bayley, president and CEO, Royal Caribbean International, the cruise line confirmed plans for a significant investment in major enhancements to CocoCay its private island destination in The Bahamas which will include the construction of a pier, additional guest features and amenities, and new opportunities for vendors and craftsmen to promote the culture of The Bahamas to visitors.

"Royal Caribbean has been a long-standing partner of the islands of The Bahamas and their plans to significantly increase tourism to our country as well as to develop the talent of our youth and expand employment opportunities for Bahamians is commendable," said Prime Minister Christie.

As part of the agreement, Royal Caribbean plans to work with The Bahamas government to develop a training program to provide those who aspire to a career in hospitality with a unique opportunity to participate in innovative training and development. The cruise line will create a curriculum that will prepare many thousands of students for careers at sea on board one of Royal Caribbean's ships. The classes will be facilitated by dedicated instructors who will provide students with theoretical and practical knowledge to help them develop valuable and marketable hospitality skills. In addition to the classroom experience, students will receive on-site guidance and training from shipboard professionals.

Royal Caribbean has committed to rapidly growing the number of Bahamian nationals employed by the cruise line in the next five years. In addition, they have joint ownership of the Grand Bahamas shipyard in Freeport at which major revitalizations and drydock maintenance of its ships take place.

"Tourism is an important engine of growth for the economy of destinations in the Caribbean and The Bahamas, and we are excited to bring more visitors on our newest and most innovative ships to this popular vacation spot," said Bayley. "Our commitment to The Bahamas is multifold. It is our responsibility to contribute to the country's economic diversity, to its employment base and the training of Bahamian youth as well as the protection of the environment. We are excited about the continued growth of tourism in The Bahamas, and look forward to doing our part to keep that growth and progress moving along in the years to come."

Operators of the world's largest ships with an additional two mega ships under construction and four on order, Royal Caribbean currently brings 1.7 million visitors a year to The Bahamas, with plans to significantly expand that number in the next decade as they add capacity in the region. With its strategic location and proximity to the United States, Bahamian destinations are already marquee ports of call for 13 of Royal Caribbean's ships and are consistently highly rated by guests.

Royal Caribbean International is an award-winning global cruise brand with a 48-year legacy of innovation and introducing industry "firsts" never before seen at sea.The cruise line features an expansive and unmatched array of features and amenities only found on Royal Caribbean, including jaw-dropping, Broadway-style entertainment and industry-acclaimed programming that appeals to families and adventurous vacationers alike. On board, guests are catered to with the cruise line's world-renowned friendly and engaging Gold Anchor Service by every staff and crew member. Royal Caribbean has been voted "Best Cruise Line Overall" for 14 consecutive years in the Travel Weekly Readers Choice Awards.

The cruise line sails 25 of the world's most innovative cruise ships to the most popular destinations in Bermuda and the Caribbean, Europe, Canada and New England, Alaska, South America, Asia, and Australia and New Zealand. Media can stay up-to-date by following @RoyalCaribPR on Twitter, and visiting RoyalCaribbeanPressCenter.com. For additional information or to make reservations, vacationers should call their travel agent; visitRoyalCaribbean.com; or call (800) ROYAL-CARIBBEAN.

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/royal-caribbean-finalizes-agreement-with-the-bahamas-to-grow-tourism-to-the-destination-300420341.html

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Royal Caribbean Finalizes Agreement With The Bahamas To Grow Tourism To The Destination - Yahoo Finance

Canadian fashion mogul Nygard pays $50K fine in Bahamas, but will appeal ruling – Times Colonist

Posted on March 9, 2017 by Danzig

LOS ANGELES A spokeswoman for Peter Nygard says the Canadian clothing manufacturer plans to appeal a ruling in the Bahamas that found he violated a 2013 court order to stop dredging near his beachfront home.

In a statement Wednesday, Sallie Hofmeister says Nygard and his associates "respectfully disagree" with the ruling, but they have paid the $50,000 fine handed down by the Bahamas Supreme Court.

A lawyer for the environmental group Save the Bays, which brought the case against Nygard, released a statement Tuesday calling the court ruling "an extraordinary triumph for environmental justice in the Bahamas."

Fred Smith says Nygard has nearly doubled the size of his property over the years by digging up sand and placing it along his beachfront.

However, Hofmeister says Nygard Holdings Ltd. was issued a permit authorizing the "lawful removal of obstructions" from a marina on the property.

She says the permit was issued after the original court order, and the firm had no reason to believe it was invalid or issued without property authority.

"It remains our contention that the removal and stockpiling of sand from the Nygard Cay marina was carried out in good faith in full accordance with the conditions of a government-issued permit," Hofmeister says.

She also says the company will challenge part of the judge's ruling that requires the company to move the stockpiled sand to a nearby beach.

"There was no evidence presented in court showing that any sand removed from Nygard Cays marina since the injunction had migrated from Jaws Beach," Hofmeister says.

"Therefore we believe there is no justification for requiring the sand to be moved to Jaws Beach."

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Canadian fashion mogul Nygard pays $50K fine in Bahamas, but will appeal ruling - Times Colonist

Army Veteran Gets Opportunity To Work In The Bahamas While On … – KHTS Radio

Posted on March 9, 2017 by Danzig

U.S. Army vet Kermit Johnson explains after his career change, LIMS gave him the amazing career opportunity which followed with an offer to film in the Bahamas. Dont miss a thing. Get breakingKHTS Santa Clarita News Alertsdelivered right to your inbox.

After the tour, I was pretty much stoked, Johnson says. This was my opportunity to actually change careers.

Johnson was involved in many other film positions, such as background or stand-in work, but he was never involved in sound until experiencing the production lots, which peaked his interest.

I always enjoyed the environments there, Johnson says.

The part that really initiated Johnson to become a part of LIMS is the support they provide for veterans.

Johnson joined the sound editing post-production department, and now as a graduate, he explains that, The skills they teach you there are skills that actually work in the real world.

LIMS provides real work experience, and that helped Johnson with an unplanned opportunity.

Fortunate for me, I had a job fall right into my lap, Johnson said: the opportunity to shoot a feature film in the Bahamas as a sound operator.

It was a fortunate moment where Johnson says he was at LIMS, at the right place, at the right time. Before I (knew) it, three days later, he said, I was on a plane to the Bahamas.

The Lifton Institute of Media Arts and Sciences, or LIMS, not only offers full-service movie studios Los Angeles filmmakers can use, but also doubles as a film production school. While LIMS students usually have never worked in the industry before, President Jimmy Lifton says that most people have skills that can be easily translated into the production trade. LIMS offers 10-week film production training and veterans job training programs designed to prepare students to go out and get a paid job on a movie or TV set.

Vet 200 Program

Lifton Institute of Media Arts & Sciences (LIMS)

27567 Fantastic Lane

Castaic, CA 91384

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Army Veteran Gets Opportunity To Work In The Bahamas While On ... - KHTS Radio

GulfMark Offshore: Insolvency Ahead? – GulfMark Offshore, Inc … – Seeking Alpha

Posted on March 9, 2017 by Danzig

This might be the last chance to sell or short GulfMark Offshore (NYSE:GLF).

GulfMark's Highland Knight. Source: Adrian SPye, Creative Commons.

Cash Running Low

The company's last financial statements are from Q3 2016. GLF shareholder equity fell from about $1 billion in 2014 to $518M last quarter, a decrease of almost 50% since the beginning of the market downturn. The company operates 71 vessels that provide support to offshore operations of the oil and gas industry, and fixed assets' carrying value has been impaired in the last months. The cash position is $10 million, and working capital is $23 million. But cash flow last quarter was -$12 million.

The cash from financing is mostly from increasing debt. At this burn rate the company should have already run out of cash by Q4 2016, and all working capital will be gone in by Q2 2017. Also, the company disclosed in their last 10-Q a cash commitment of $24 million:

We have a vessel under construction in Norway that was scheduled to be completed and delivered during the first quarter of 2016; however, in the fourth quarter of 2015, we amended our contract with the shipbuilder to delay delivery of the vessel until January 2017. Concurrently, in order to delay the payment of a substantial portion of the construction costs, we agreed to pay monthly installments through May 2016 totaling 92.2 million NOK (or approximately $11.0 million) and to pay a final installment on delivery in January 2017 of 195.0 million NOK (or approximately $24.4 million at September 30, 2016)

The company's access to the revolvers is subject to the valuation of the collateral (vessels) that could be further impaired in quarters to come, and many other inconvenient covenants that:

This latter point might ultimately prove to be a killer because the company is operating at a negative EBIT.

What's Next?

According to Stein's Law: "If something cannot go on forever, then eventually it must stop." Sooner rather than later, GLF will be unable to pay the interest on its debt (carried at about $473 million). GLF debt has been trading at deep discounts, between $30 and $65. The current prices around $60 represent a 100% rally from historic lows.

As previously mentioned on Seeking Alpha, a group of hedge funds has acquired a significant portion of the debt. Based on the table above, I believe their cost basis for the debt could be between $140 and $310 million. In other words, after a hypothetical bankruptcy, they will have acquired the company and its 71 offshore vessels at about $2 to $4.5 million each.

Market price of GLF debt. Source: Borse Berlin.

Worse Than Insider Selling

On March 7, the company disclosed the resignation of William Martin as a director. Martin is the CIO of Raging Capital Management, an investment fund that as of Dec. 31, 2016, was GulfMark's largest shareholder. This development might reflect differing interests between Raging Capital as a shareholder and as a bond holder.

Competitive Position

One of the main markets for GulfMark is the North Sea. In this region, the industry has begun to see consolidation through a three-way merger between Solstad Offshore (the aqcuirer), Farstad Offshore, and Deep Sea Supply. This deal is illustrative of what can happen to a distressed OSV (offshore support vessel) operator. After heavy losses, Farstad had an unsustainable capital structure:

Source: Created by author with data taken from Farstad's financial statements.

The company reached a restructuring deal with their debt holders that includes:

After the deal, old shareholders would keep 0.8% of the company:

Source: Created by author with data taken from Farstad's restructuring press release.

Immediately after this restructuring, Farstad and Solstad will merge through a stock-for-stock transaction. The ratio will be 0.35 shares of Solstad for every 12.5 shares of Farstad. Immediately afterward, Deep Sea Supply will merge into the new "Solstad Farstad." This new company will be a major global player in the industry, with a fleet numbering 155 vessels. The share of vessels provided by each predecessor is as follows:

Source: Created by author with data take from the companies' websites.

There are many differences among vessels in design, deadweight tons, etc., but this provides some insight about the merger. The actual ownership of the resulting entity will be split in such a manner that Farstad post-restructuring shareholders will own 59% of the company.

Solstad Farstad ownership will be as follows:

Source: Created by author with data from Farstad's restructuring press release.

There is, certainly, some important dilution for continuing Solstad shareholders: Now, they collectively own just 31% of the resulting company. But this could prove highly beneficial for them since they have received an almost debt-free Farstad, and the total debt/equity ratio is going down.

Contrast and Compare

One of the approaches I learned from Benjamin Graham is to compare the financial information of several companies to try and find which one has a better relative valuation. For example, I've taken the main, public American OSV companies:

Note: Income figures are in thousands. Source: Created by author with data taken from the companies' financial statements (GLF Q3 2016, TDW and HOS Q4 2016).

Only Hornbeck Offshore Services (NYSE:HOS) has positive cash flow, and their CEO announced plans to position the company as an acquirer in the industry.

Highway to Liquidation

Debtholders in the OSV industry face three scenarios:

1. The company is strong and there's little fear of a default under any circumstances.

2. The company is near insolvency, so it can be readily taken over and liquidated, merged, etc.

3. The company is in trouble but insolvency could happen a few years from now. By then, demand for secondhand vessels is going to be close to zero. This situation offers the least chance of recovering the principal.

It is in the best interests of debtholders to sell the underlying assets as fast as possible. Time works against them: As months go by, more cash is burnt by the companies and other foreclosures satisfy the secondhand vessel demand. I believe that intelligent debtholders will try to accelerate the realization of the company's assets, as long as they keep some resale value. The urgency will decline as the fleet approaches scrap value.

Catalyst

Tidewater (NYSE:TDW), the industry leader, is expected to announce either a restructuring or a bankruptcy on Monday, March 13. This could have contagious effects on the rest of the industry. Currently, the company does not comply with the debt covenants, and debtholders have been granting temporary waivers in order to avoid a default situation. Management has already warned that "it is likely that the shareholders' ownership interests will, at a minimum, be significantly diluted." It isn't pleasant for shareholders to be at the mercy of vulture funds.

The Effects of Consolidation

The OSV market is grossly oversupplied, and it is almost impossible to sell a fleet one vessel at a time. In many countries, cabotage laws restrict the operation of foreign-owned or foreign-flagged vessels, notably in the American Gulf of Mexico. Finding buyers will be harder as time goes by. Therefore, debtholders who want to maximize the probability of recovering their principal need to dispose of their fleets in the most value-adding manner. In the North Sea, Farstad's debtholders essentially wiped out the equity and traded the company as a whole. In return, they get shares of a promising industry leader that they can sell immediately in the stock market.

Now, consolidation is very bad news for the acquired companies (Farstad shareholders essentially got wiped out). There are many other Farstads out there and their shareholders face permanent capital losses. There is still a lot of pain coming for the equity in this industry.

Key Takeaways

Disclosure: I am/we are long HOS.

I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Editor's Note: This article covers one or more stocks trading at less than $1 per share and/or with less than a $100 million market cap. Please be aware of the risks associated with these stocks.

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GulfMark Offshore: Insolvency Ahead? - GulfMark Offshore, Inc ... - Seeking Alpha

Can You Opt Out Of Big IRS Offshore Penalties? – Forbes

Posted on March 9, 2017 by Danzig

Forbes

Can You Opt Out Of Big IRS Offshore Penalties?
Forbes
Undisclosed foreign accounts or income can trigger significant civil penalties. They can even carry potential criminal penalties. Since 2009, many U.S. persons with foreign accounts and income have come within the IRS's enormous offshore enforcement ...

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Can You Opt Out Of Big IRS Offshore Penalties? - Forbes

Is Transocean About to Make a Big Splash in the Offshore Rig Industry? – Motley Fool

Posted on March 9, 2017 by Danzig

It might not look like it based on Transocean's (NYSE:RIG) most recent earnings reports, but the company is making some very large strides to improve its position in the rig market. While once seen as a company with an extremely old, ineffective fleet, Transocean now looks younger, leaner, and ready to position itself for the upturn in the offshore market.

In fact, Transocean is so confident in its current position that it thinks it can do something that has been almost completely unheard of in recent years: According to executives in its fourth-quarter earnings call, it's ready to make an acquisition. Here are some notable quotes from the call that illustrate what management is thinking.

Image source: Getty Images.

There hasn't been a lot of new work for rigs out there. So even the shortest, cheapest contract can be helpful in putting some cash in the coffers. According to Transocean CEO Jeremy Thigpen, the company has actually been doing a rather remarkable job of capturing what little work that is available:

I'd also like to thank our marketing contracts team, which in 2016 despite intense competition, won roughly one-third of the contracted global floater fixtures. The combination of our long-standing and deep customer relationships, our global footprint, our excellent operational performance and our internal confidence to offer innovative commercial models helped us to capture market share in this challenging market without bidding below cash breakeven dayrates. Of note, we were also able to secure contracts for two cold-stacked rigs when our competitors had hot rigs that were available.

It may not be showing up much in the bottom line of Transocean's results, but keeping rigs working at even the most modest profits will go a long way for any rig company, especially since we have yet to hit the bottom of the market.

As the offshore rig industry goes through this deep downturn, one of the silver linings is that it is forcing companies to think of better ways to operate. One thing that Transocean is looking to do is coordinate more with its suppliers and equipment manufacturers to lower operational downtime and maintenance costs. According to Thigpen, the company is trying a novel approach:

[W]e are more closely collaborating with our supply partners, and leveraging our respective strength to further enhance our riser inspection maintenance program and proven optimized [blowout preventer] performance, further improve reliability and reduce the total cost of ownership over the lives of the assets. We will accomplish these joint objectives by migrating our service model to reflect actual use in lieu of a more traditional calendar-based approach to service and maintenance. This reliability-centered approach has been approved by [Det Norske Veritas], and being embraced by the respective [original equipment manufacturers]. Ultimately, through closer collaboration, coordination and the aligning of incentives, we are confident that we can further improve rig uptime while reducing our operating costs.

Transocean isn't the only company taking this kind of approach to equipment performance. In 2016, Diamond Offshore (NYSE:DO) signed an agreement with General Electric (NYSE:GE) where it sold its blowout preventers back to GE and, in exchange, will lease them from GE. The idea here is that the OEM will have a better understanding of the equipment itself and will be more in tune with the maintenance needs. It also puts skin in the game for the OEM, as it is only paid for when the equipment is in use.

This seems to be a trend taking hold across the industry, so don't be surprised if we see more offshore rig owners move toward these equipment leasing options in the future.

Probably the thing that investors care about more than anything else is when we can expect the market to turn for offshore operators. Based on Thigpen's statements, 2017 isn't going to be the year. Integrated oil and gas companies (thinkExxonMobiland Chevron) represent the bulk of offshore development money, and those players don't have much of their budget dedicated to offshore work and reserve replacement. But Thigpen's more optimistic about 2018:

As we looked toward 2018, we're increasingly encouraged. The [integrated oil companies], which represent the majority of the offshore and specifically, the Deepwater market, recognize that their future is ultimately dependent on reserve replacement and production growth, yet 2017 will represent the third consecutive year of reduced capital spending and underinvestment in core high-return assets. As such, we expect the natural course of accelerating depletion to narrow the gap between the supply and demand of oil, and place upward pressure on its price, ultimately encourage incremental activity. Additionally, by 2018, we as an industry, will have further streamlined our organization and our processes, realizing additional performance improvement in cost savings that will result in even lower breakeven for our customers.

Transocean has been the most aggressive company in terms of scrapping older rigs that probably won't have much use in the future. The demands from operators today mean only the highest-specification rigs get work. As much work Transocean has done in right-sizing its fleet, Thigpen admits there is still lots of progress left to be made by the industry as a whole:

Still, with approximately 315 floaters in the current market, which includes those under construction, we as an industry remain oversupplied, even when considering the more optimistic estimates of recovery. Although we cannot accurately predict what others will do as the market unfolds, we will continue to be very pragmatic in evaluating both our rigs rolling off contract and our assets that are currently stacked. As we identify rig that no longer fulfills our fleet strategy and/or does not best address what we believed to be our customers' specific demand, we will continue to quickly make the decision to recycle it.

Transocean's most recent rig report showed it had nine older rigs that are only deepwater and midwater capable.These are the most likely candidates to be recycled. Some are still under contract, though, so don't expect them to be sent to the scrap yard before their contracts are up.

This was probably the most interesting quote from the whole earnings call. Thanks to Transocean's efforts to right size the fleet, delay delivery of some rigs under construction, and maintain a strong balance sheet, Thigpen actually sees a ripe opportunity to make some acquisitions:

In addition to retiring less-marketable assets, there is a significant number of high specification rigs, either in the possession of the stressed market participants or shipyards that could enhance our overall fleet and competitive position. We will continue to evaluate these assets, and remain ready to act under the right circumstances.

Thigpen went on to say that there two ways Transocean can deal with this. Either it can use cash to take over a shipyard delivery that was supposed to go to another player, or it could use its equity to absorb a competitor. Using equity today isn't ideal -- shares are trading for the absurdly cheap valuation of 0.31 times tangible book value -- but even that low share price is better than some of its peers.

RIG Price to Tangible Book Value data by YCharts.

If the company is going to make those kinds of deals, though, CFO Mark Mey thinks the company will need to act fast to get the best deal possible.

[Y]ou cannot wait too long because the opportunity may not be there for you. So you have to make a pre-emptive strike. I think Transocean, given our marketing presence and market intelligence, we probably have the best information out there, and probably get a look before most people do. So I think when we do decide to go out and strike, you can read that as a sign that we think the market is certainly troughed and improving from there.

Transocean has pretty much been the only company as of late to discuss the possibility of making an acquisition right now, which shows what kind of strength it has in the market in general. If this isn't a sign that the company is one of the best-positioned to bounce back in the offshore drilling industry, I'm not sure what is.

Tyler Crowe owns shares of General Electric and Seadrill. The Motley Fool owns shares of and recommends Atwood Oceanics. The Motley Fool owns shares of General Electric. The Motley Fool has a disclosure policy.

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Is Transocean About to Make a Big Splash in the Offshore Rig Industry? - Motley Fool

Our ‘Offshore’ Podcast Continues With Season 2 ‘The Sacred Mountain’ – Honolulu Civil Beat

Posted on March 9, 2017 by Danzig

Native Hawaiians say Hawaiis tallest mountain is a sacred realm of creation.

Scientists believe its the best spot in the world for exploring the very origins of our galaxy.

For more than a decade, theyve been arguing over what happens on the summit of Mauna Kea. And, as it turns out, thats a good place to view the current international debate over indigenous rights, the importance of science in society and Americas legacy of colonialism.

In its second season, Offshore our podcast in partnershipwith PRX explores the clash between science and culture using the ongoing debate over whether a new telescope should be allowed on Mauna Kea on the Big Island.

The Thirty Meter Telescope is a $1.4 billion project proposed by a consortium of astronomers in collaboration with the state and the University of Hawaii. In late 2015, the Hawaii Supreme Court invalidated the state permit for the project and kicked it back to the Board of Land and Natural Resources for a new hearing, an event that recently wrapped up after months of testimony from dozens of people on both sidese.

Offshore editor Ben Adair records audio while Pua Case, a Native Hawaiian and opponent of the Thirty Meter Telescope, prays at an ahu across from Saddle Road at the base of Mauna Kea.

Jessica Terrell/Civil Beat

In this season, The Sacred Mountain, well take listeners to the summitas we explore why this mountain is so special to many people.

And then well take you to other places where the same debate overscience and culture, land use versus preservation, is playing out to North Dakota where the Standing Rock Sioux tribe is trying to protect itsland from an oil pipeline and to Arizona where the San Carlos Apaches have already been dealing with telescopes atop their mountain and now are trying to stop a mining company from operating on sacred lands.

Our question this season:Can these special places support a culture that goes back centuries and allow for science and technology to move forward?

Now this season of Offshore is available now on iTunes, Stitcher and anywhere you listen to podcasts. Offshore is produced by Jessica Terrell and April Estrellon, and edited by longtime radio producer Ben Adair.

And, on Saturday, the first season of Offshore A Killing in Waikiki will begin airing on Hawaii Public Radio. Offshore is scheduled to air at 4 p.m. Saturdays with a repeat of the episode the following Friday.

Season 1, which has been downloaded more than 700,000 times on podcast apps, examines the issue ofrace and power through two of Hawaiis most infamous court cases the Massie case in 1931 and the Deedy case in 2011. In both instances, a Native Hawaiian was killed by a white person in a position of power. We wondered what Hawaii, Americas most muticultural state, had learned that would be helpful to other areas of the country struggling with police shootings, for instance.

The answer might surprise you.

So download our new season of Offshore or listen to Season 1 on HPR starting this Saturday. You wont be disappointed.

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Our 'Offshore' Podcast Continues With Season 2 'The Sacred Mountain' - Honolulu Civil Beat

Offshore supplies taxable in India in case of composite contract for supply and services: AAR – Economic Times

Posted on March 9, 2017 by Danzig

MUMBAI: The Authority of Advance Ruling (AAR) recently held that the entire revenue of a company registered in Singapore from supplying goods or rendering services in India is taxable in India.

The contract under consideration was awarded to L&T, which in turn awarded a sub contract to the Singapore Company. The Singapore company was required to design the curtain wall and faade, supply all materials, erect, install, inspect, test and commission the entire subcontract, a research report by Nangia and Co, a tax consultancy, said.

The Singapore company was of the view that the scope of work could be broadly divided into two aspectsoffshore supply of goods and installation and other work to be executed at the airport.

AAR held that the entire money received by the Singapore company was taxable in India since the contract was a composite one and there was no evident division in the contract for supply of services.

This ruling shall impact all foreign companies executing EPC (Engineering, Procurement, and Construction) contracts in India. The observation of AAR shall act as a guiding factor for those planning to enter into an EPC contract in India, although an AAR is only binding on the applicant and that too for the specific case, Rakesh Nangia, managing director, Nangia & Co said.

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Offshore supplies taxable in India in case of composite contract for supply and services: AAR - Economic Times

Royal Caribbean Signs Investment Agreement With Bahamas, Plans to Enhance Private Island CocoCay – Cruise Critic

Posted on March 9, 2017 by Danzig

(10:37 a.m. EST) -- A hospitality training program and the construction of a pier at CocoCay are among the improvements included in a multi-year agreement between cruise line Royal Caribbean International and The Bahamas to grow tourism in the island nation.

CocoCay, Royal Caribbean's private island in The Bahamas, will see a number of enhancements, from new amenities and spaces for Bahamian vendors and craftsmen to the construction of a pier, which will greatly improve docking at the port. (CocoCay is currently a tender port, making it difficult to call when the weather is poor.) The addition of a pier means the port will be able to accommodate the cruise line's Oasis-class ships, the biggest cruise ships in the world.

During a phone call with the media this morning, Michael Bayley, president and CEO of Royal Caribbean International, said CocoCay will remain open while undergoing construction but added that passenger experience would not be affected. He also noted that some "minor redeployment" will be necessary but didn't elaborate.

Bayley called the renovations a "multiphase project" and alluded to the caliber of amenities that will eventually be available to visitors: "experiences like you find on Oasis Class. Expect CocoCay to deliver those types of experiences."

Construction will be complete in 2019, with some phases finished as early as next year.

The agreement also outlines a significant investment from Royal Caribbean to develop a training program intended to build and recruit the talents of Bahamian nationals, and to rapidly increase their employment with the cruise line over the next five years. According to the news release, students of the program will receive onsite guidance and training from shipboard professionals, as well as a classroom experience.

Bayley and Perry Christie, Prime Minister of The Bahamas, attended a recent signing ceremony to make the agreement official.

"Tourism is an important engine of growth for the economy of destinations in the Caribbean and The Bahamas, and we are excited to bring more visitors on our newest and most innovative ships to this popular vacation spot," Bayley said at the ceremony. "Our commitment to The Bahamas is multifold. It is our responsibility to contribute to the country's economic diversity, to its employment base and the training of Bahamian youth as well as the protection of the environment. We are excited about the continued growth of tourism in The Bahamas, and look forward to doing our part to keep that growth and progress moving along in the years to come."

Itineraries for Symphony of the Seas -- Royal Caribbean's latest cruise ship, debuting in spring 2018 -- were announced today, and include Nassau, Bahamas, on fall sailings from Miami.

"Royal Caribbean has been a longstanding partner of the islands of The Bahamas, and their plans to significantly increase tourism to our country as well as to develop the talent of our youth and expand employment opportunities for Bahamians is commendable," Christie said.

Royal Caribbean currently brings 1.7 million passengers a year to The Bahamas, with plans to expand that number over the next 10 years as they add capacity in the region. Bahamian destinations already serve as ports of call for 13 of Royal Caribbean's ships.

Royal Caribbean and The Bahamas share joint ownership of the Grand Bahamas shipyard in Freeport, where maintenance and refurbishment of Royal's ships take place.

--By Brittany Chrusciel, Associate Editor

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Royal Caribbean Signs Investment Agreement With Bahamas, Plans to Enhance Private Island CocoCay - Cruise Critic

New St. Paul police program aims to mentor recruits – Minneapolis Star Tribune

Posted on March 9, 2017 by Danzig

When the St. Paul police department put out a call late last year for licensed officers, Ehdoh Ezekisoe showed up at an informational session ready to join their ranks.

But the St. Paul resident who immigrated from a Thai refugee camp to the United States in 2005 didnt have the schooling or licensing required to apply for the police academy. St. Paul police Sgt. Pamela Barragan, a member of the departments community engagement unit, saw potential in Ezekisoe and stayed in touch with him; thered be an opportunity opening up soon.

On Wednesday, St. Paul police unveiled its first ever Law Enforcement Career Path Academy, a program aimed at mentoring recruits from diverse backgrounds who face financial, educational and employment hurdles.

I related a lot to him because I moved [to St. Paul] from Ecuador, Barragan said. He doesnt have a traditional support system.

For Ezekisoe, 22, who is Karen, its a chance to move beyond years of restaurant work and a short stint as a contract carpenter. Hes been working as a security guard since late 2016.

I want to have a career that I can be proud of, said Ezekisoe, who plans to apply. I think I can be a role model.

Between 20 to 25 participants are expected to enroll in the 2-year program that starts in April. A combination of private and public funds will help pay the recruits a stipend of $10.50 an hour while they are in class at Century College working toward their law enforcement degree. Senior Cmdr. John Lozoya, head of the community engagement unit, said the stipend is only for classes this summer, and that the department is working with Job Corps to find recruits employment afterward as they continue their education.

Although the program is aimed at diversifying the department and fostering interest among recruits between ages 18-24 from underrepresented groups, anyone of any age who faces financial and educational barriers will be considered, Lozoya said.

Community Action Partnership of Ramsey and Washington Counties, a private nonprofit, will also assist recruits with access to educational programs, transportation and employment.

The program was created because traditional recruitment efforts, such as job fairs, werent reaching underrepresented communities. Of the departments sworn staff of 619, about 25 percent are officers of color. Meanwhile, about 40 percent of St. Paul residents are people of color.

That really wasnt meeting the needs of our community, Lozoya said of traditional recruitment efforts. We are very intentional about recruiting from our own community and surrounding communities.

Recruits will be expected to volunteer 40 hours per week with the department this summer, and continue working with a St. Paul police mentor throughout their participation, helping with youth programs and outreach, and going on ride-alongs.

The program ultimately aims to act as a pipeline for new hires in St. Paul, but Lozoya expects that some recruits might change their minds and shift out of law enforcement, and completing the program doesnt guarantee anyone a spot with the department.

The bigger goal, Lozoya and Barragan said, is to create a diverse pool of educated and licensed officers ready to apply for jobs across Minnesota. If more funding is secured, Lozoya said, the department would consider starting another class next year.

We help each other, Barragan said. We rather have diversity across all law enforcement not just in St. Paul.

Applications are being accepted through March 31 at http://www.stpaul.gov/jobs.

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New St. Paul police program aims to mentor recruits - Minneapolis Star Tribune

4 Entrepreneurs Changing the Way We Think About Space Travel – Tech.Co

Posted on March 9, 2017 by Danzig

In 1969, man walked on the Moon. Since then, we havent done much. Sure, man made a few return trip and has viewed a lot further into the universe than ever expected. But as far as space travel is concerned, there hasnt been much progress. However, in recent years, entrepreneurs of all shapes and sizes have decided that NASA isnt the only one that gets to reach for the stars. And they have completely changed the way we think about outer space.

Whether theyre starting a commercial airline for space or reinventing the rocket, these entrepreneurs have forever altered the future of space travel. Theyre contributions to the field will make leaving our atmosphere as simple as buying a ticket. Sure, itll be a really expensive ticket, but well cross that bridge when we come to it.

If you want to learn about some of the most innovative minds in the space travel discussion, check out these four entrepreneurs:

Obviously, the founder of SpaceXis first on this list. Before Musk, space travel used to be an overwhelmingly expensive endeavor that required you toshoot millions of dollars worth of equipment into space without any hopes of getting back. Now, thanks to Musks revolutionary self-landing rocket, NASA and anyone else that wants to leave our atmosphere can do so without spending too much money. Granted, its still incredibly expensive, but its a little bit less so thanks to this man.

In the past, the only hope everyday citizens had of traveling to the Moon was becoming an astronaut.And if you struggled with math and hate enclosed spaces, that wasnt really an option. But thanks to Richard Branson and his company, Virgin Galactic, going to the Moon could soon be as easier as booking a flight to Australia.

The British philanthropist isnt the only way trying to make space travel a regular occurrence. Jeff Bezos and his company Blue Originare also in pursuit of affordable space travel. And if the space race wasnt heating up enough already, Bezos has locked down his first paying customer for a trip, a huge milestone for the company considering it was almost entirely funded by the CEO of Amazon.

While some entrepreneurs strive to send people into space, Naveen Jain and his company Moon Express hope to be the first private company to set foot on the Moon. As the first private entity to be given permission to take to the stars, Jain has taken a huge step towards combining space travel and business. As part of the Google Lunar XPRIZE competition, Moon Express is competing with a number of other companies to make it to the Moon before the deadline.

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4 Entrepreneurs Changing the Way We Think About Space Travel - Tech.Co

Why Space Travel Can Be Absolutely Disgusting – Live Science

Posted on March 9, 2017 by Danzig

Astronaut Bruce McCandless II floats above Earth, 330 feet (100 meters) from the cargo bay of the space shuttle Challenger, in 1984.

NASA's requirements for becoming an astronautare stringent, but not overly daunting. Essentially, hopefuls must have a bachelor's degree in science, be physically fit, and stand between 58.5 and 76 inches tall. What NASA doesn't mention, however, are the intangibles. You can probably think of a few: coolness under pressure, a problem-solving mentality, and the ability to work in a team setting. But one trait you might not consider is a strong stomach. The following stories illustrate why that definitely can come in handy.

The microgravity of space can lead to a lot of disgusting situations. If you think carpet spills are hard to clean, try collecting floating vomit, or desiccated skin.

"The calluses on your feet in space will eventually fall off," astronaut Scott Kelly revealed in aReddit AMA. "So, the bottoms of your feet become very soft like newborn baby feet. But the top of my feet develop rough alligator skin because I use the top of my feet to get around here on space station when using foot rails."

Floating calluses with the potential to enter an unaware, open mouth is enough to irk most people, but that's not the worst of it. Take whathappened during STS-1, for example.

In April 1981, astronauts John Young and Robert Crippen piloted the Space Shuttle Columbia successfully through its maiden mission, but not without a few hitches. The toilet clogged early on, forcing the two crewmembers to usefecal containment systems,long, tube-shaped bags affixed to the buttocks with a sticky seal to trap, and store, evacuated feces. Even worse, during re-entry, vacuum-dried fecal matter from the broken, bloated toilet migrated to the ventilation system and entered the main cabin. Young and Crippen survived the poop particles and soldiered through the *ick* factor in professional fashion.

Fecal containment systems were a brief inconvenience during STS-1, but they were business as usual during the Apollo missions. The clunky apparatuses were far from foolproof, especially in microgravity. During Apollo 10, when Tom Stafford, Gene Cernan, and John Young orbited the Moon, it seems a few "turds" may have eluded containment. Alan Boyleuncovered the smelly situationwhilst reviewing the declassified mission logs, and brought it to light over atNBC's Cosmic Log:

"Give me a napkin, quick," Stafford says. "There's a turd floating through the air."

"I didn't do it," Young says. "It ain't one of mine."

"I don't think it's one of mine," Cernan says.

"Mine was a little more sticky than that," Stafford replies. "Throw that away."

The astronauts discuss the finer points of waste disposal in space, and then move on to other business. But minutes later, it's "Houston, we have a problem" all over again.

"Here's another goddam turd," Cernan says. "What's the matter with you guys?"

Thanks to futuristicvacuum toiletsand well-designed filtration systems, escaped turds are no longer an issue. In fact, the International Space Station is "many, many times cleaner than your bathroom at home," Astrobiologist Kasthuri Venkateswaran,told theWashington Post.

Good news for aspiring astronauts who are easily grossed out!

Original article on RealClearScience.

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Why Space Travel Can Be Absolutely Disgusting - Live Science

New Burger Robot Will Take Command of the Grill in 50 Fast Food Restaurants – Singularity Hub

Posted on March 9, 2017 by Danzig

Would your burger taste as delicious if it was made by a robot?

Youll soon be able to find out at CaliBurger restaurants in the US and worldwide.

Cali Group partnered with Miso Robotics to develop Flippy the burger robot, which made its debut this week at the Pasadena, California CaliBurger.

Miso and Cali Group arent calling Flippy a mere robot, though; its a robotic kitchen assistant. And its not the first of its kind. San Francisco-based Momentum Machines has also been working on a burger bot for a few years.

Flippy brings some fresh tech to the table (no pun intended). Whereas in the past a typical assembly line robot (say at a car factory) needed everything lined up perfectly in front of themprecisely and consistently positionedto do their work, robots like Flippy are using the latest round of machine learning software to locate and identify whats in front of them and learn from experience.

That is, Flippys flexibility is a great example of robots becoming more flexible, in general.

Misos CEO compared Flippy to a self-driving car because of the way both use feedback loops to reach higher levels of performance.

Flippy doesnt look much like how you may imagine a robot either. Its body is a small cart on wheels, and it has no legs and just one arm. The arms six axes give it a wide range of motion and allow it to perform multiple functions (as opposed to simply moving up and down or back and forth).

Theres an assortment of detachable tools the bot can use to help it cook, including tongs, scrapers, and spatulas, and a pneumatic pump lets it swap one tool for another, rather than a human having to change it out.

Combined with its AI software, these tools will allow Flippy to eventually expand its chefdom beyond just burgersit could learn to make items like chicken or fish.

Some of Flippys key tasks include pulling raw patties from a stack and placing them on the grill, tracking each burgers cook time and temperature, and transferring cooked burgers to a plate.

Flippy cant single-handedly take a burger from raw to ready, though. Rather than adding extra ingredients itself, the bot alerts human cooks when its time to put cheese on a grilling patty. People also need to add sauce and toppings once the patty is cooked, as well as wrap the burgers that are ready to eat. Reportedly, Momentum Machines is working to include some of these additional burger assembly steps into its system.

Sensors on the grill-facing side of the bot take in thermal and 3D data, and multiple cameras help Flippy see its surroundings. The bot knows how many burgers it should be cooking at any given time thanks to a system that digitally sends tickets back to the kitchen from the restaurants counter.

Two of the bots most appealing features for restaurateurs are its compactness and adaptabilityit can be installed in front of or next to any standard grill or fryer, which means restaurants can start using Flippy without having to expand or reconfigure their kitchens.

CaliBurger has committed to using Flippy in at least 50 of its restaurants worldwide over the next two years.

What does this mean for the chains current line cooks, and for the future of low-skilled jobs in the restaurant industry?

Misos CEO acknowledged that his companys product may put thousands of people out of work, but he also said, Tasting food and creating recipes will always be the purview of a chef. And restaurants are gathering places where we go to interact with each other. Humans will always play a very critical role in the hospitality side of the business given the social aspects of food. We just dont know what the new roles will be yet in the industry.

Cali Groups chairman envisions Flippy working next to human employees, not replacing them completely. But he also noted that the bot is part of a "broader vision for creating a unified operating system that will control all aspects of a restaurant, from in-store interactive gaming entertainment to automated ordering and cooking processes, 'intelligent' food delivery and real-time detection of operating errors and pathogens."

As more restaurant operations become automated, demand for low-skilled jobs like line cooks will decline, but there may be a jump in demand for high-skilled workers like engineers. Even if the number of total jobs stays more or less stable, though, it will be difficult to bridge the resulting skills gap. One possible solution is for the same companies whose technology is eliminating jobs to invest resources in retraining displaced workers to fill newly created jobs that mayrequire different skills.

Meanwhile, robot-made burgers may bring benefits both to consumers and to the restaurant industry; money saved on wages can be applied to sourcing better-quality ingredients, for example, and having machines take over a kitchens most hazardous tasks will improve overall safety and efficiency.

Image Credit: Miso Robotics

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New Burger Robot Will Take Command of the Grill in 50 Fast Food Restaurants - Singularity Hub

3 Exciting Biotech Trends to Watch Closely in 2017 – Singularity Hub

Posted on March 9, 2017 by Danzig

As I start to look at the emerging trends of 2017 from the vantage ofIndieBio, where we see hundreds of biotech startup applications and technologies per year, a few key themes are already emerging. Even as political landscapes change, science and technology continue to push forward.

Most of us have seen science fiction shows that show future doctors regrowing and replacing entire organs. That fiction is now becoming a reality with cell therapies from companies like Juno (curing two infants with leukemia of their previously treatment resistant cancers with engineered T-cells), induced pluripotent stem cells (iPS) pioneered by the Nobel prize winning scientist, Shinya Yamanaka that can becomeany cell in the body, growing organoids (mini organs with some function of a fully grown organ like thestomach organoids grown by researchers in Ohio), and entirely re-grown organs.

There are a plethora of biotechs focused on developing the next generation of regenerative therapies. United Therapeutics is focused on growing humanized organs in Xenograph models (pigs),OneSkinis focused on growing and regenerating human skin, and companies likeScaled Biolabshave grown kidney organoids in the lab (with all 27 cells present in a full kidney present in the mini-organ).

Researchers in Taiwan have managed to sequence a little under half of the simple fruit flys brain with single neuron resolution over the last decade. Thats60,000 neurons with a resolution of 1 gigabyte each. The human brain dwarfs the fruit fly with 86 million neurons. Using the same imaging protocol, it was estimated it would take 17 million years to image the human brain, but luckily, technology continues to advance and accelerate in neuroscience.

Continued improvements in knowledge of other species, better resolution technologies from MRIs, CAT scans and EEGs, combined with machine learning, have resulted in dramatically improved understanding of the human brains functioning. Companies likeTruusthave developed technologies based off of high-dimensional 3D representations of energy flows within the brain (modeled off of the CERN particle accelerator) to improve our understanding of energy flows. The human (brain) connectome is being mapped, and were learning how to expand our treatments to include not just classical therapeutics and electrical stimulation, but also the use of ultrasound and magnetic stimulation (likeBerkeley UltrasoundandNeuroQuore).

Were also now exploring the use of previously banned substances like LSD, psilocybin, ketamine, and other psychoactive compounds for the treatment of depression, PTSD, and other mood and anxiety disorders with very promising results. In one study psilocybin (magic mushroom) caused a remission in previously treatment-resistant depression, an incredible life-changing result for these patients.

Beyond just the understanding and treatment of disorders of the brain, we stand on the cusp of true human enhancement with improved human-machine interfaces directly with the brain. Bryan Johnson founded Kernel, a company dedicated to creating a true implantable brain-machine interface, and Elon Musk claims he will shortly release information on a neural lace interface hes been developing for humanity. Human augmentation of the brain is just a short few years away.

It isnt software that will eat the world, its intelligence. Machine learning started to penetrate biotech R&D a few years back, with AI that could run and test hypotheses, in fact findingnovel regenerative pathwaysin planarium worms (worms that can be cut in half and regenerate).

At the start of this year, we saw the first FDA-approved application ofdeep learning for diagnosing heart conditions.Arterys system takes an average of 15 seconds to produce a result for one case which would take a professional human analyst between 30 minutes to one hour. The most interesting aspect of this is the more data, the better of a cardiologist Arterys system becomes.

Other companies likeMendel.aiare focusing on unleashing machine learning on understanding individual cancer cases and, at first, recommending clinical trials. They aim to eventually recommend treatments for patients that should exceed any one oncologists knowledge base with the latest published data.

Other companies likeAtomwise,GEA enzymes,andA2Aare designing better molecules, enzymes, and peptides for the treatment of diseasesin-silicoand novel foods augmented by machine learning.

This, however, is just the start for machine intelligence, which will affect everything from food, consumer goods, hospital informatics, logistics, diagnostics, treatment, and epidemiology. IBMs Watson is the past. Deep learning algorithms pioneered by GooglesTensorFlowand their new spin-off Verily, which just raised$800m at the start of this year to bring intelligence to healthcare, are the future.

Image Credit: Shutterstock

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3 Exciting Biotech Trends to Watch Closely in 2017 - Singularity Hub

Why Reality Is Not A Video Game And Why It Matters – New Hampshire Public Radio

Posted on March 9, 2017 by Danzig

Last week, Adam Gopnik of The New Yorker published a satirical essay, in which he wondered whether the strange reality we live in could be some kind of computer game played by an advanced intelligence (us in the future or alien).

His point was that if it is, the "programmers" are messing up, given the absurdity of current events: the incredible faux-pas at the Oscars, where the wrong best picture was announced; Donald Trump, the most outsider president ever elected in U.S. history; the strange comeback by the New England Patriots at the Super Bowl. These events, claims Gopnik, are not just weird; they point to a glitch in the "Matrix," the program that runs us all.

For most people trying to make a living, pay bills or fighting an illness, to spend time considering that our reality is not the "real thing" but actually a highly-sophisticated simulation sounds ridiculous. Someone close to me said, "I wish smart people would focus on real world problems and not on this nonsense." I confess that despite being a scientist that uses simulations in my research, I tend to sympathize with this. To blame the current mess on powers beyond us sounds like a major cop out. It's like the older brother framing the younger one for the broken window. "He threw the ball!" Not our fault, not our responsibility, "they" are doing this to us.

Of course, philosophers consider such questions because they are interesting and raise points about the nature of reality and our perception of it. The Are We Living in a Simulation? question comes from a 2003 paper by Oxford philosopher Nick Bostrom, who reasoned, compellingly, that given our own proficiency with computers and virtual reality, one of the following propositions must be true:

In other words, either we disappear, or our successors do or don't run simulations, including the one we are part of today. Bostrom's point is that if our species moves on to a new, posthuman phase, our "new us" will have unimaginable computation powers, and running realistic simulations will be a given. If this is the case, we would be like characters in a super-advanced Sims game, believing we have autonomy when, in fact, we are puppets in the hands of the game-players.

This sounds like a very Calvinist kind of situation, with God substituted by super-advanced game players. Or maybe we can call them Super Advanced Gaming Entities (S.A.G.E.)? Our fates are in the hands of "posthuman" entities with powers beyond our control. The key difference between God and a simulation (at least in this narrow context) is that God is presumably infallible, while simulations have glitches, or can have glitches.

The one glitch in the simulation argument is that there is nothing to stop the simulation at one super-advanced posthuman (alien) species. It could very well be that our simulators are, for their part, simulated by even more advanced simulators, and those by even more advanced ones, ad infinitum. Who is the first simulator? This reminds me of the "turtles all the way down" concept of Anavastha in Indian philosophy, where the world rests on an elephant that rests on a turtle that rests on a turtle that... In the West, it may be interpreted as infinite regression or the problem of the First Cause. (For a history of the "turtles all the way down" concept and its many occurrences and variations see here.)

This offers at least some sort of comfort, given that we all seem to be enslaved in an endless nested web of simulators. Only the first simulator is truly free. Familiar?

For Bostrom's argument to work, the key assumption is that advanced intelligences will have an interest in simulating their ancestors (in this case, us). Why would they, exactly? Would they expect to gain some new information about their reality by looking at their evolutionary past?

It seems to me that being so advanced they would have collected enough knowledge about their past to have little interest in this kind of simulation. Forward-looking may be much more interesting to them. They may have virtual-reality museums, where they could go and experience the lives and tribulations of their ancestors. But a full-fledged, resource-consuming simulation of an entire universe? Sounds like a colossal waste of time.

The simulation argument messes with our self-esteem, since it assumes that we have no free will, that we are just deluded puppets thinking we are free to make choices. To believe this is to give up our sense of autonomy: after all, if it's all a big game that we can't control, why bother? This is the danger with this kind of philosophical argument, to actually make us into what it's claiming we are, so that we end up abdicating our right to fight for what we believe in.

Let us make sure that we don't confuse philosophical arguments with our very real socio-political reality, especially not now. We need all the autonomy that we can muster to protect our freedom of choice.

Marcelo Gleiser is a theoretical physicist and writer and a professor of natural philosophy, physics and astronomy at Dartmouth College. He is currently teaching a Massive Online Open Course titled Question Reality! that goes much deeper into these questions. His latest book is The Simple Beauty of the Unexpected: A Natural Philosopher's Quest for Trout and the Meaning of Everything. You can keep up with Marcelo on Facebook and Twitter: @mgleiser

Why Reality Is Not A Video Game And Why It Matters - New Hampshire Public Radio

Musk and Bostrom’s computer simulation theory isn’t as crazy as it first sounds – The Plaid Zebra (blog)

Posted on March 9, 2017 by Danzig

Musk and Bostroms computer simulation theory isnt as crazy as it first sounds

BY: DUSTIN BATTY

As augmented reality and virtual reality technology continues to improve, concerns have arisen that in the future, we wont be able to tell what is real and what is computer-generated. According to some peopleincluding well-known innovator, inventor, and entrepreneur Elon Muskthere is a very good chance that we are all living in a computer simulation.

I know, I know; it sounds crazy. Weve all seen The Matrix, and most of us are aware that its just science fiction. But this theory isnt just senseless balderdash. Musk and the others who hold this theory, such as philosopher Nick Bostrom, make fairly compelling points to corroborate their arguments.

At Code Conference 2016, Musk points out the fact that video games have advanced from Pong to 3-dimensional near-realistic graphics in just over 40 years. It follows that in a few more decades, if we continue at our current rate of technological advancementor in a few millennia, if our advancement slows by a factor of a thousand, but eventuallywe will reach the level of technology necessary to create a fully realistic-seeming virtual reality.

One of the strongest counter-arguments to the computer simulation theory, as posited in an IFLScience article, is that running a truly lifelike simulation of a city, with all its trillions of interactions, would require a city-sized computer. In other words, the amount of computing power that would be required in order to process all of the human minds that are currently aliveas well as the environment in which we all exist and the visible universe that we can detectwould be impossible to develop.

After a lengthy build up in the paper he wrote on the subject, Bostrom claims that developing the computing power required to allow for the lives of 100 billion people, as well as the surrounding environment, is not actually impossible. It would, however, require a computer with the mass of a large planet, which is obviously something that were not even close to building. He says that the technology will become available eventually, if we are able to survive as a species long enough to become what he calls posthuman.

He describes the posthuman as those who are alive when humankind has acquired most of the technological capabilities that one can currently show to be consistent with physical laws and with material and energy constraints. It will probably take us thousands of years to reach a posthuman state, but Bostrom and Musk both point out that the time-frame doesnt matter. As long as the possibility of realistic simulations exists, then we are most likely in one.

The reason for this is simple logic. A simulation this advanced contains sentient beings that can create their own simulation; like in the movie Inception, there would be simulations within simulations within simulations. The chances that we are in the base reality rather than in one of the Inception layers is unlikely because there is only one base reality, but many simulated realities. And there would be no possible way to tell the difference.

So what does this mean for us? How do we move forward, knowing that theres a decent chance that we are in a computer simulation rather than in base reality? Well, we just keep on as if nothings changed. Because, if you think about it, nothing has changed. The world is just as real as it always was, and our reasons for living our lives the way we do are still true. We have simply been given a possible answer to the question about life, the universe, and everything. And I, for one, think its fascinating.

Tagged: computer simulation, elon musk, Nick Bostrom, posthuman, technology, Virtual Reality

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Musk and Bostrom's computer simulation theory isn't as crazy as it first sounds - The Plaid Zebra (blog)

BAK, basis voor actuele kunst – E-Flux

Posted on March 9, 2017 by Danzig

Former West: Art and the Contemporary After 1989 Edited by Maria Hlavajova and Simon Sheikh

formerwest.org mitpress.mit.edu bakonline.org Facebook

BAK, basis voor actuele kunst is pleased to announce the release of Former West: Art and the Contemporary After 1989. This publication includes over 70 texts, visual essays, and conversations by artists, thinkers, and cultural practitioners worldwide, and marks the culmination of an eight-year artistic and curatorial research experiment, FORMER WEST.

The volume explores with and through art the social, cultural, politico-economic, technological, and ecological repercussions of the end of the Cold War on the contemporary. In a nod to a supposed counterpart, the former east, the book proposes to former the west as a way of resisting the wests continued coloniality, and appeals to arts critical potential for thinking and living through alternatives.

Asking how to envision such alternative trajectories, the contributions probe the distinctions established within the post-1989 geopolitical order, specifically those of a global north and global south, and seek to align the post-communist condition with the postcolonial constellation. They consider in parallel the cultural, political, and environmental upheavals that structure the present moment with the post-ideological, posthuman, and posthistorical formations that have emerged in intellectual and artistic response. The book queries not only history and historicization in their western guise, current conditions defined by wars, creeping normalizations of contemporary fascisms, post-truth, and algorithmic cultures, but also solidarities in the context of global class recomposition and migration, unfolding in chilling relevance to the political atmosphere of today.

Contributors include: Nancy Adajania, Edit Andrs, Athena Athanasiou, Zygmunt Bauman, Dave Beech, Brett Bloom, Rosi Braidotti, Susan Buck-Morss, Campus in Camps, Dipesh Chakrabarty, Chto Delat?/What is to be done?, Jodi Dean, Angela Dimitrakaki, Dilar Dirik, Marlene Dumas, Keller Easterling, Okwui Enwezor, Charles Esche, Silvia Federici, Mark Fisher, Federica Giardini and Anna Simone, Boris Groys, Gulf Labor Coalition, Stefano Harney, Sharon Hayes, Brian Holmes, Tung-Hui Hu, Wendy Hui Kyong Chun, Sami Khatib, Delaine Le Bas, Boaz Levin and Vera Tollmann, Isabell Lorey, Jlius Koller, Sven Ltticken, Ewa Majewska, Artemy Magun, Suhail Malik, Teresa Margolles, Achille Mbembe, Laura McLean, Cuauhtmoc Medina, Sandro Mezzadra, Walter D. Mignolo, Aernout Mik, Angela Mitropoulos, Rastko Monik, Nstio Mosquito, Rabih Mrou, Pedro Neves Marques, Peter Osborne, Matteo Pasquinelli, Andrea Phillips, Nina Power, Vijay Prashad, Gerald Raunig, Irit Rogoff, Boaventura de Sousa Santos, Naoki Sakai, Rasha Salti, Francesco Salvini, Christoph Schlingensief, Georg Schllhammer, Susan Schuppli, Andreas Siekmann, Jonas Staal, Hito Steyerl, Mladen Stilinovi, Paulo Tavares, Trnh T. Minh-H, Mona Vtmanu and Florin Tudor, Marina Vishmidt, Marion von Osten, McKenzie Wark, and Eyal Weizman.

Former West: Art and the Contemporary After 1989 is edited by Maria Hlavajova and Simon Sheikh. Visual introductions to book chapters are curated by Maria Hlavajova and Kathrin Rhomberg.

Former West: Art and the Contemporary After 1989 has been published in the context of the curatorial and artistic research experiment FORMER WEST (200816), developed by BAK and realized through manifold partnerships with artists, theorists, activists, as well as art and educational institutions transnationally. Leading up to this publication, a series of public editorial meetings has been held in Utrecht (2014), London (2015), Budapest (2015), and Warsaw (2015), in which themes, contributions, and propositions for this publication have been considered in dialogue with the public.

The publication is out now and can be ordered via MIT Press.

Read the original here:

BAK, basis voor actuele kunst - E-Flux

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