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Monthly Archives: July 2017
Why is there a row brewing about bringing back town councils? – thejournal.ie
Posted: July 2, 2017 at 9:10 am
Image: Sam Boal
ITS NOT OFTEN that you find Sinn Fin and Fianna Fil on the same side of a political argument.
But that happened this week when Fianna Fils Shane Cassels suggested bringing back town councils just three years after they were abolished.
Having made his political bones on Navan Town Council before graduating to county council and then the Dil, Cassels is adamant that what Irelands towns need is further devolution of power.
With new Minister of State with special responsibility for local government, John Paul Phelan, open to reforming the system and to re-introducing some form of local councils, the idea could become reality.
What is a town council?
Town councils were the lower tier of local government and spanned the country from Ardee to Youghal, with 744 members sitting on them.
However, the tiers of government were not necessarily hierarchical. Town councils were able to exercise some functions within their areas parallel to those performed by the county council for the balance of the county.
This, Cassells argues, meant they were able to have a real impact on their towns. Speaking of Navan as he brought forward his bill this week, he said:
I was asked today at the press conference were the Town Councils nothing more than talking shops well if in the case of my own town council if the delivery of a 13 million theatre, new swimming pool and gymnasium, 68 acre park, enterprise zone and enhanced town core is the result of talking shops well then it is pretty effective one.
However in 2014, 80 town and borough councils were abolished as part of local government reform under the Fine Gael/Labour government.
The Local Government Bill, published by the then Minister for the Environment Phil Hogan, reduced the number of councillors by more than 40%.
It saw 4.6 million handed over to town councillors who did not run for election or did not get elected.
Why were they scrapped?
In the Putting People First document, the work of town councils was acknowledged.
Town authorities are well positioned to build and maintain good connections with local communities, which is particularly relevant in the context of possible concerns regarding lack of connection between citizens and local authorities, particularly in urban areas, with the continuing trend towards urbanisation in the context of increasing population and demographic diversity.
In principle, sub-county structures should facilitate subsidiarity, accountability and democratic representation but the degree to which these objectives can be optimised through the current arrangements is affected by weaknesses.
It goes on to say that town councils were an additional overhead on government services, that some of their work was duplicated and they lacked the scale necessary to be fully efficient.
The scrapping was called the most radical reform of local government in 100 years but left local politicians fuming. In Letterkenny, one councillor called Hogan an arrogant man.
In 2013, then deputy mayor of Letterkenny Tom Crossan told TheJournal.ie that town councils were necessary.
Letterkenny is the capital of Donegal and towns like it should be supported through town councils thats the point we wanted to make to him.
We have spent the last number of years pumping 300 million of investment into the town new parks, a leisure centre, a theatre. Were also the first town in Ireland to appoint a town gardener to decorate the town.
Why should they be brought back?
Across the spectrum, there appears to be broad support for bringing back town councils, with Sinn Fins Imelda Munster calling the abolition an unmitigated disaster.
The abolition of the town councils in 2014 was an unmitigated disaster for Drogheda. For all of the 80 towns that lost their town and borough councils. Drogheda is the largest town in Ireland.
What was the benefit of the abolition of the councils? It does not appear to have made much of a saving for the exchequer. The Department claimed in a statement prior to the introduction of the Local Government Reform Act 2014 that savings of 15 million to 20 million per year would be achieved through the abolition of town councils.
I requested information in a parliamentary question on the annual savings achieved each year since the introduction of the Act. The Department refused to provide me with this information.
I think it is high time that we re-established town councils.
Cassells agrees.
Centralising power in Dublin is not the best way to run the country. The Local Government reforms of 2014 left Ireland with the weakest system of local Government in Europe. We need local solutions to local problems. A new town council system, with real powers and resources, will help us achieve that. The Bill is a step forward in realising one of the key commitments in the Fianna Fil manifesto and the current Programme for Government.
A report on the effects of the reform is due this summer.
Under Cassells plan, the town councils would be reinstated in time for the 2019 local elections.
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Scotland needed government. It got nationalism instead – Spectator.co.uk (blog)
Posted: at 9:10 am
As you approach the Scottish Parliament from the Royal Mile, a modest curve juts out from the obnoxious angles. This camber, the Canongate Wall, is studded with 26 slates of Scottish stone each bearing a quotation from the Bible and scriveners of more questionable repute. Among them is the instruction to work as if you live in the early days of a better nation, etched on Iona marble and attributed to the novelist Alasdair Gray. The words are totemic for Scottish nationalists, a rallying cry heard often during the 2014 referendum. And why not? They bear the promise of national rebirth, of hope in even the darkest days.
Inside, where the SNP can not only work but legislate for a better nation, inertia reigns. MSPs have only just returned to law-making after a year without passing any bills except the budget; Ministers were otherwise engaged, seeking to parlay Englands Leave vote into support for Scottish independence. That didnt go entirely to plan and after a punishing reversal in the General Election, Nicola Sturgeon has graciously allowed that she might wait a while longer before pushing a second referendum. On Tuesday, after ten years of SNP government, the First Minister declared: We look forward to getting on with the job in the best interests of all the people of Scotland. On Thursday, Holyrood went into recess for the summer.
It is just as well. The Presiding Officers gavel fell on a parliament at its lowest ebb since reconvening in 1999. Scottish education is in crisis, embarked on yet another bout of tinkering masquerading as reform as surveys show literacy and numeracy rates across all levels, genders, and incomes stalling or tumbling. The Scottish Government is now abolishing the surveys, the third such metric they have withdrawn from because its findings were unpalatable. Schools are now light 4000 teachers, colleges 150,000 places and youngsters from deprived backgrounds are four times less likely to reach university. Since 2010, spending on education has been cut by more than 1bn.
Cancer referral waiting times are being met by only two of 15 health boards and accident & emergency departments continue to miss the four-hour wait target. Little wonder, since the Scottish Government has U-turned on a promise to cut junior doctors hours and left 3,000 nursing posts unfilled. A usually sober think tank warns Scotland could tip into recession any day now; a troubled IT scheme has delayed CAP payments to farmers for the second year in a row; and for reasons which even SNP MSPs struggle to understand, the government reintroduced the banned practice of tail-docking puppy dogs.
This is what politics looks like when everything must revolve around the constitution or go spin. And even that they can no longer do properly, forced to publish their second referendum consultation quietly on the last day of parliament, so unhinged were the public responses. A clanjamfrie of prejudice and paranoia, demands ranged from stripping English-born voters of the franchise to safeguarding against MI5 rigging the vote again.
Scottish politics has been poisoned by nationalism but, worse, it has been enervated by it. In the early days of our better nation, cynicism abounded about devolution. Holyrood was a diddy parliament with diddy powers and diddy politicians.Eventually MSPs decided that the country would only take them seriously if they took themselves seriously, and they embarked on a restless legislative agenda of land reform, repeal of Clause 28, free personal care, a new teacher pay agreement, abolition of tuition fees, and a ban on smoking in public places. There was still cynicism and resistance, scandals and rows but Scotlands parliament had finally grown up.
What changed, and there is no way to dress this up or wish it away, was the election of an SNP government in 2007. For the first four years, their lack of a majority and Alex Salmonds political nous, saw Holyrood rumble along much as usual, if in a less radical direction, with extra police, a council tax freeze, and cuts to business rates. But the SNPs surprise majority in 2011 made independence a live issue and, as soon became clear, the only issue. Other legislation did not stop, even if it slowed, but all became secondary to preparing for, holding, and campaigning in the independence referendum. At the same time, the single-mindedness that unites the SNP made for a parliament that was boorish and Politburish. Opponents were branded anti-Scottish and routinely accused of talking down Scotland; comically unrebellious backbenchers and Nationalist-dominated committees nodded along to most of the executives wishes.
The wages of Scotlands ten-year romance with the politics of identity are all around. Holyrood is now a proper parliament with proper powers and even the odd proper politician but it has a diddy government. For a nationalist party, the SNP is remarkably unambitious for the country it professes to love. Alasdair Grays injunction actually a paraphrase of Canadian poet Dennis Lee does not require the better nation to be near or even plausible; it merely tells us to strive in pursuit of improvement. The Nationalists seem to strive only in pursuit of independence and where independence looks impossible they seem not to strive at all.
Devolution has stopped working and will not restart until the SNP settles for a better nation on the way to an ideal one.
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Everything President Trump has tweeted (and what it was about) – Los Angeles Times
Posted: at 9:09 am
President Trump promoted his appearanceat a "Celebrate Freedom" concert honoring veterans.
He was spending the pre-Independence Day weekend at his golf club in Bedminster, N.J., but traveled back to Washington for the event Saturday night.
The evangelical megachurch First Baptist Dallas and Salem Media Group sponsored the event at the John F. Kennedy Center for the Performing Arts. First Baptist Pastor Robert Jeffress was a strong backer of Trump during the 2016 campaign.
Overwhelming support from evangelical voters helped propel Trump to victory in 2016. Since he took office, Christian conservatives have been overjoyed by Trump's appointment of Justice Neil M. Gorsuch to the Supreme Court and his executive order directing the IRS to ease up on a rarely enforced limit on partisan political activity by churches.
The event at times felt like one of Trump's signature campaign rallies, with the president promising an adoring crowd that America would "win again" and prompting cheers with attacks on the news media.
"The fake media tried to stop us from going to the White House, but I'm president and they're not," he said.
Besides speaking to the event's religious theme, Trump renewed his campaign promise to always take care of America's veterans.
"Not only has God bestowed on us the gift of freedom, he's also given us the gift of heroes willing to give their lives to defend that freedom," he said.
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Everything President Trump has tweeted (and what it was about) - Los Angeles Times
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Trump vows to support and defend religious freedom in US – ABC News
Posted: at 9:09 am
President Donald Trump vowed to support and defend religious liberty, telling a gathering of evangelical Christians that the threat of terrorism is "one of the most grave and dire threats to religious freedom in the world today."
"We cannot allow this terrorism and extremism to spread in our country, or to find sanctuary on our shores or in our cities," Trump said Saturday night at a "Celebrate Freedom" concert honoring veterans. "We want to make sure that anyone who seeks to join our country shares our values and has the capacity to love our people."
The evangelical megachurch First Baptist Dallas and Salem Media Group sponsored the event at the John F. Kennedy Center for the Performing Arts. First Baptist Pastor Robert Jeffress was a strong backer of Trump during the 2016 campaign.
The event at times felt like one of Trump's signature campaign rallies, with the president promising an adoring crowd that America would "win again" and prompting cheers with attacks on the news media.
"The fake media tried to stop us from going to the White House, but I'm president and they're not," he said.
Trump appeared on a stage decorated with a massive American flag. Choirs performed "The Battle Hymn of the Republic" and other hymns and debuted a song with the lyrics "make America great again" Trump's campaign slogan.
Besides speaking to the event's religious theme, Trump renewed his campaign promise to always take care of America's veterans.
"Not only has God bestowed on us the gift of freedom, he's also given us the gift of heroes willing to give their lives to defend that freedom," he said.
Overwhelming support from evangelical voters helped propel Trump to victory in 2016. Since he took office, Christian conservatives have been overjoyed by Trump's appointment of Justice Neil Gorsuch to the Supreme Court and his executive order ordering the IRS to ease up on a rarely enforced limit on partisan political activity by churches.
Trump was spending the pre-Independence Day weekend at his golf club in Bedminster, New Jersey, but traveled back to Washington for the event.
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Trump vows to support and defend religious freedom in US - ABC News
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In our opinion: Religious freedom requires both legislative and judicial solutions – Deseret News
Posted: at 9:09 am
Steve Heap, AdobeStock
Facade of the U.S. Supreme Court in Washington, D.C.
The Supreme Courts Trinity decision, in which it decided Trinity Lutheran Church in Missouri deserved equal treatment when it came to federal money for playground surfacing materials, was significant.
For one thing, it was a 7-2 decision, giving it a heft that goes beyond the courts normal 5-4 ideological shift. For another, new justice Neil Gorsuch used the words free exercise of religion in his response to the opinion, noting this as a key part of the First Amendment. It was refreshing to hear such language at a time when the establishment clause, which prohibits the government from establishing a religion, seems to take precedence over the freedom to actually act on ones beliefs.
But when it comes to expert guesses about what this portends for continuing religious-freedom decisions, such as the pending case involving a Colorado baker who refused to serve a gay couple for their wedding, one thing becomes clear: Many of these sorts of cutting-edge culture-war disputes might be more appropriately handled through legislative compromise.
Unfortunately, lawmakers in statehouses and in Washington seem skittish to even attempt such a thing. The result often is that a decision pleases only one side of the debate, leaving the other determined to continue the battle until a more sympathetic court is in place.
We often tout the so-called Utah Compromise, enacted two years ago, as the gold standard in such disputes. Thats because this remarkable effort brought together Republicans, Democrats, religious leaders and leaders of the LGBT community to find a workable balance between the need to preserve religious freedom and to protect people from discrimination. It was a significant step toward peace in the culture war.
No side in that effort got entirely what it wanted, but the agreement brought all sides together and has proved effective. As a result, Utah has largely escaped the kinds of contentious legal disputes that separate these factions elsewhere.
At the time the compromise was made law, we hoped it would serve as a template for other states to follow. Legislative compromises calm angry public rhetoric and can help keep Supreme Court justices from having to make all-or-nothing decisions or parse matters in less-than-perfect ways. Unfortunately, few states have followed this lead.
The Trinity decision weakened the so-called Blaine Amendment in Missouri. James G. Blaine was a prominent Republican lawmaker in the 19th century who tried to pass a constitutional amendment prohibiting the use of public funds for parochial schools. His efforts were seen as targeting the Catholic Church and going along with anti-Catholic sentiments of the day.
He failed in Washington, but several states included such amendments in their own constitutions. Since then, these have come to be regarded by some as emblematic of the intent of the First Amendment, which is a mistake.
The courts Trinity decision was narrowly cast, so the broader effects on prohibitions against taxpayer support for religious schools is unclear. So, too, are guesses about how the court might rule in its next session in the Colorado wedding-cake case. Conservative Justice Anthony Kennedy is seen as a swing vote there, and he authored the decision legalizing gay marriage.
So the nation watches and waits; it prognosticates and wrings its collective hands. Think how much more effective it might be for states to actively settle such issues by brokering meaningful compromises that give each side a stake in the outcome and that protect the rights for all involved.
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In our opinion: Religious freedom requires both legislative and judicial solutions - Deseret News
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July 4, 2017: Some quotes on what freedom means – Atlanta Journal Constitution
Posted: at 9:09 am
On Tuesday, America will celebrate Independence Day.
In honor of July 4th, heres what some patriots, politicians and just plain people have to say about freedom.
The winds that blow through the wide sky in these mounts, the winds that sweep from Canada to Mexico, from the Pacific to the Atlantic - have always blown on free men. Franklin D. Roosevelt
We on this continent should never forget that men first crossed the Atlantic not to find soil for their ploughs but to secure liberty for their souls. Robert J. McCracken
"The American, by nature, is optimistic. He is experimental, an inventor, and a builder who builds best when called upon to build greatly." John F. Kennedy
"You can't separate peace from freedom because no one can be at peace unless he has his freedom." Malcolm X
Liberty means responsibility. That is why most men dread it. George Bernard Shaw
You have to love a nation that celebrates its independence every July 4, not with a parade of guns, tanks, and soldiers who file by the White House in a show of strength and muscle, but with family picnics where kids throw Frisbees, the potato salad gets iffy, and the flies die from happiness. You may think you have overeaten, but it is patriotism. Erma Bombeck
My God! How little do my countrymen know what precious blessings they are in possession of, and which no other people on earth enjoy! Thomas Jefferson
Those who deny freedom to others deserve it not for themselves. Abraham Lincoln
"The essence of Americathat which really unites usis not ethnicity, or nationality, or religion. It is an ideaand what an idea it is: that you can come from humble circumstances and do great things. That it doesn't matter where you came from, but where you are going." Condoleezza Rice
Freedom is never free. Author Unknown
There is nothing wrong with America that cannot be cured by what is right with America. William J. Clinton
"Patriotism is easy to understand in America; it means looking out for yourself by looking out for your country." Calvin Coolidge
My country, 'tis of thee, Sweet land of liberty, Of thee I sing, Land where my fathers died, Land of the pilgrims' pride, From every mountainside, Let freedom ring! Samuel Francis Smith
Republicans believe every day is the Fourth of July, but the democrats believe every day is April 15. Ronald Reagan
"So let freedom ring from the prodigious hilltops of New Hampshire. Let freedom ring from the mighty mountains of New York. Let freedom ring from the heightening Alleghenies of Pennsylvania! Let freedom ring from the snowcapped Rockies of Colorado! Let freedom ring from the curvaceous peaks of California! But not only that; let freedom ring from Stone Mountain of Georgia! Let freedom ring from Lookout Mountain of Tennessee! Let freedom ring from every hill and every molehill of Mississippi. From every mountainside, let freedom ring." Martin Luther King Jr.
"Courage, then, my countrymen, our contest is not only whether we ourselves shall be free, but whether there shall be left to mankind an asylum on earth for civil and religious liberty." Samuel Adams
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July 4, 2017: Some quotes on what freedom means - Atlanta Journal Constitution
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OUR VIEW: A spirit for freedom, liberty – Cullman Times Online
Posted: at 9:09 am
Thomas Jefferson is largely credited with writing the Declaration of Independence, agreed upon by the colonial Congress in signature and spirit.
As the Declaration circulated through the American colonies and arrived in Great Britain, the rogue American leaders became the most wanted men in the known world. War was already afoot, but this document captured the spirit and tenacity of the American Revolution.
There was no turning back. There was no king who would ever again rule over the Americans, even upon the threat of death.
The tone of speeches and articles penned by the inspirational leaders of the Revolution captured the emotions and deep feeling of many people in the colonies. At the same time, the blunt challenges to British rule were viewed as shocking insolence across the ocean.
As the worlds super power in that, age the British were confident they could crush the insurrection. But a ragtag gathering of farmers and townsfolk had other ideas at Lexington and Concord.
The war would be long, with the cause of freedom often in doubt.
America eventually gained its independence, with timely assistance from France. George Washington, the able leader of American troops, became president.
The celebrations that followed the British surrender were spirited affairs with fireworks and feasting.
While the early years of the United States were difficult, out of the debates and arguments came the Bill of Rights, the Constitution and a foundation for personal liberty and freedom that would eventually lead the nation to stand as a union, to overthrow the institution of slavery, and finally end most discriminatory practices in government and society.
The union has never been perfect, but its widely acclaimed around the world as better than anything that exists. As Americans, we have fought each other, stood up for others around the world who were persecuted, and brought an end to many tyrannical governments that oppressed and murdered millions of people.
Our strength remains in the determination and wisdom of our Founders who recognized that the Creator made all people in equal value, and that government should be for the people and by the people.
We still find the establishment and purpose of our nation an inspiring story that continues to play out. No one person has control over the lives of Americans because our direction and existence is a collective effort of the people. Its part of what makes the United States of America great.
Today, we hope everyone has a safe and meaningful Independence Day. Our nation remains a beacon of hope for the world and thats worth remembering and celebrating every day.
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OUR VIEW: A spirit for freedom, liberty - Cullman Times Online
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Will Goodbody: What a week in technology – RTE.ie
Posted: at 9:09 am
Updated / Sunday, 2 Jul 2017 10:17
There is always a huge amount of interesting stuff going on in the world of technology.
But every so often there is an outstanding period, where we are acutely reminded just how pivotal and far reaching a role technology now plays in our lives, writes RT's Science and Technology Correspondent Will Goodbody.
Last week was one of those periods.
It began last weekend with news that the US government was lodging a Supreme Court appeal against Microsoft's victory in a court case that is crucial to the future of data privacy and cloud computing.
The case revolves around US law enforcement agents efforts, as part of a criminal investigation, to access emails that are being held on a Microsoft server in a data centre in Dublin.
Microsoft not surprisingly has pushed back, arguing even though it is a US based company, the data is not stored in that country and the government does not therefore have the jurisdiction to reach across oceans to access it.
But the US government is not taking the decision of the federal appeals court earlier this year lying down and is to take the matter to the Supreme Court.
The case is hugely significant as it threatens to not only undermine the privacy rights of huge numbers of people, but it also could seriously damage the cloud computing model on which so many services are now based.
After all, if companies and users become nervous that data they have legitimately entrusted to cloud service providers could suddenly become reachable by law enforcers in other jurisdictions without a local warrant, then the proposition becomes irreparably damaged.
Google anti-trust
Just days later on the other side of the Atlantic, came an unrelated significant twist in events for another giant of the global tech sphere.
Google was slapped with a fine of 2.4 billion by the European Commission for breaking laws forbidding anti-competitive practices.
After an exhaustive seven year probe, Europe concluded the internet giant had wrongly used its dominant position in the search market to artificially promote its shopping price comparison service in an anti-competitive manner.
It was a record fine and in the long-term could prove a significant blow to Alphabet, Google's parent, if it chooses to accept the medicine by changing how this and related services work into the future.
But from the perspective of those of us living and shopping in Europe, it also goes to demonstrate just how at the mercy of a small handful of internet based technology services we have become and how we can be easily manipulated.
Most of us now research and buy products online by carrying out a Google search.
The Commission's investigation revealed 95% of all user clicks are on the first page of such search results, with the top generic result getting 35% of all clicks.
And the tendency is even stronger on mobile.
What that means is that we, being the lazy creatures we are, tend to make our buying choices on the first few suggestions we are offered, not taking time to consider that in many cases those suggestions are there because someone may have paid Google for them to be there.
Held to ransom?
Just as the implications of that EU ruling were beginning to sink in, another cyber attack began to sweep the globe.
It seemed to originate in the Ukraine, reportedly in a maliciously compromised software update for a tax package that is widely used there.
It knocked out central bank, shop and airport systems in the country, but quickly spread across continents causing havoc in small and large businesses, including Maersk, Mondelez and Merck.
Initially it appeared to be just another sophisticated form of ransomware, locking the device master file structures until a $300 ransom was paid via Bitcoin.
It had the appearance of another virus released last year called Petya and seemed to exploit some of the same vulnerabilities as "WannaCry", the ransomware that caused chaos globally in May.
But later it began to emerge that this "GoldenEye" malware may have been more about destroying data than earning cash for the hackers.
Either way, the incident once again went to underline just how dependent we are on technology in our everyday lives and how vulnerable we've become to an assault on those systems.
It is fast becoming abundantly clear that cybercrime is starting to pose as big a threat to global security as other far more obvious concerns, like terrorism, political instability and climate change.
It also underlines the need for co-ordinated global action to at least slow down if not stop the criminals and to raise awareness and educate the public and businesses about how to protect themselves as much as possible, even though at times it may seen impossible.
Facebook's milestone
Those frenzied efforts by IT experts everywhere to stop the virus and patch their systems overshadowed another illuminating announcement - this time from Facebook.
Thirteen years after it first launched, the social network now has two billion monthly active users.
The milestone makes Facebook the largest social app in the world (in terms of those regularly logging on).
Two thirds of those monthly users go into the service every day and Facebook has no intention of stopping there.
Two billion using it means there are still five billion who don't and that is the focus of Mark Zuckerberg as he pushes its expansion on into the developing world.
Still, it is a staggering number of people using one internet based service and is another example of how technology is transforming how we communicate.
It might not all be for the good though and Facebook has a great deal of work to do in making the platform a safe, tolerant and pleasant place to be.
But it is astonishing that this number of people are now connected to a service that lets them share news, thoughts and feelings through text, video and icons.
iPhone turns 10
As Facebook marked its milestone on Wednesday, a day later and 15 minutes down Route 101 in California, Apple was having its own celebrations as it marked tenyears since the first iPhone went on sale in 2007.
It is unlikely that when he hopped on to the stage to launch it six months earlier at that year's MacWorld conference, that Steve Jobs could have foreseen what a revolution it would bring in technology.
He introduced it as an iPod, phone and internet communication device.
But since then it has evolved into a camera, a GPS navigator, a video recorder, a mobile wallet, a gaming system, a video player and much more.
We have also seen an entire economy and ecosystem grow up around the concept of apps.
It is not hyperbole to say it kickstarted a reinvention of the phone industry and although it is a word that is frequently overused in tech, the iPhone was the essence of disruption, sending Apple on a trajectory towards stunning financial success.
Some will argue that the culture it has spawned, where heads are more often looking down at phones instead of up at the real world, where work is done everywhere and all the time not just in the office during work hours, and communication is instantaneously reactionary rather than considered, has set us back rather than moved us forward.
But as other events earlier last week also demonstrate, while technology brings us many amazing new opportunities, few things in life are universally positive.
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5 Top Technology Mutual Funds for Cutting-Edge Investors – Motley Fool
Posted: at 9:09 am
Investors gravitate to technology stocks because of their exposure to the fast-paced innovative tech sector. Some of the best-known and best-performing stocks of all time have come from the technology industry, and many investors still believe that there's plenty of potential for even bigger gains going forward. Funds with good track records have attracted considerable assets, and that's why the following five technology mutual funds stand out among the elite of the industry.
Data source: Fund providers.
If you want exposure to the top technology stocks, then both the Vanguard and Fidelity technology mutual funds deliver. In both funds, you'll find the stalwarts of the industry among the top 10 holdings, and they make up a relatively large portion of the overall assets of the fund. For instance, more than 40% of the Vanguard fund's assets are tied up in five stocks, and two of those holdings are different share classes issued by the same company. You'll find some companies in adjacent sectors with technology leanings, but for the most part, the Vanguard fund's holdings are squarely within technology. Moreover, with expenses of just 0.10%, the price is right for this index mutual fund.
The Fidelity fund goes a bit further afield, including some companies that aren't strictly tech stocks but that have cutting-edge applications in areas like electric vehicles. You'll pay up for management with this fund, but a greater exposure to companies with a global scope might be worth the extra cost for some tech investors.
Image source: Getty Images.
Two funds from T. Rowe Price make the list, and they have different ways to attack the tech sector. The Science and Technology Fund looks a lot like the Fidelity and Vanguard funds above, with many names from the top ranks of the tech sector. Yet the weightings are much different, with a greater emphasis toward the more innovative companies in the social networking, cloud computing, and internet services industries. You'll also find a greater exposure to high-technology healthcare names, especially those producing cutting-edge medical devices that have had dramatic impacts on the quality and sustainability of healthcare with certain applications. Even with this fund, an international exposure to the sector adds some diversification.
The Global Technology Fund goes a step further, casting its net across the globe in search of the best companies with high-technology aspirations. From pure cloud computing and internet services companies to consumer and industrial stocks with the know-how to bring transformative change to their respective industries, the Global fund makes a slightly different play on where tomorrow's leadership in technology will come.
Finally, the Columbia Seligman fund looks a lot different from its peers. Big tech stocks play a much less important role in this fund, with outsized bets on smaller stocks providing some differentiation from the crowd. That has earned the fund a five-star rating from Morningstar, and long-term performance has also been relatively impressive.
The downside of the fund is that it charges a sales load of up to 5.75%, and expenses of 1.35% per year for the Class A shares of the fund are quite high. That means that money will come out of your pocket when you first buy shares and never get invested into the fund at all, instead going directly to your financial professional.
These top technology mutual funds have attracted considerable amounts of assets, and they each take different tacks toward capturing returns from technology stocks. By looking more closely at these five stocks, you'll be able to pick the one that best fits your own particular investing strategy.
Dan Caplinger has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
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5 Top Technology Mutual Funds for Cutting-Edge Investors - Motley Fool
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Self-Driving Car Technology Foiled By Kangaroos – HuffPost
Posted: at 9:09 am
As the inevitable robot takeover looms, its nice to know we have one surprising weapon in our arsenal: kangaroos.
Volvo has confessed that the springy marsupials are throwing off the Large Animal Detection systems being developed for self-driving cars, the Australian Broadcasting Corp. reports.Those systems are meant to make sure the cars avoid animals along the road, such as deer or cattle.
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But the hopping of the kangaroos is messing with the detection, which uses the ground as a reference point, Volvo Australias technical manager David Pickett told the Australian Broadcasting Corp.
Weve noticed with the kangaroo being in mid-flight ... when its in the air it actually looks like its further away, then it lands and it looks closer, he said.
Originally, Volvo tested out the detection software on moose in Sweden. Researchers have been working on the kangaroo problem for more than a year.
However, Kevin McCann, managing director of Volvo Australia,told The Guardian that researchers would be able to solve the problem before the driverless cars are commercially available in 2020. He noted that any driverless car maker working in Australia would likely run into similar issues.
Any company that would be working on the autonomous car concept would be having to do the same developmental work, McCann said.
The BBC points out that the problem would hardly be a trivial one for self-driving cars in Australia, since kangaroo collusions are a significant problem for regular cars. About 80% of vehicle collisions with animals in Australia involve kangaroos, adding up to more than 16,000 kangaroo-related collisions every year.
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