How Big Roller Coaster Prevents Children From Going To School Early

Apparently there’s a roller coaster lobby. They’d prefer that children had more play tim

The Economics Of Malaysia Airlines

Jessica Plautz caught up with Malaysia Airlines: The carrier is now estimated to be losing $2.2 mill

An Algorithm For Predicting Supreme Court Rulings

David Kravets wrote about an equation created by researchers to predict Supreme Court rulings: The m

 

How Big Roller Coaster Prevents Children From Going To School Early

August 27, 2014 in Daily Bulletin

Apparently there’s a roller coaster lobby. They’d prefer that children had more play time writes Benjamin Freed:

  • In Virginia a 1986 law makes it illegal to start class before America’s Labour Day.
  • The law was designed to give theme park owners an extra week of crowds.
  • One major theme park operator made over $200,000 in political donations in what is seen as an effort to keep the law on the books.
  • 324 free tickets are also recorded as being given to the lawmakers that are willing to report such things.

Read about some of the other lobbying done, what the Governor has to say, and more over here.

Source: Washingtonian

The Economics Of Malaysia Airlines

August 26, 2014 in Daily Bulletin

Jessica Plautz caught up with Malaysia Airlines:

  • The carrier is now estimated to be losing $2.2 million a day as planes fly empty.
  • The airline was unprofitable even before the twin disasters of MH17 and MH370.
  • Malaysia Airlines has doubled the commission it offers to travel agents who book routes on their flights.
  • It has also slashed prices – a flight from Kuala Lumpur to Beijing costs $238. Other carriers charge over $500.
  • If the airline has to shut down because of the crash it won’t be the first. Three years after flight 103 from London to New York was bombed in the 80s, the airline Pan Am went bankrupt.

See photos of the empty planes and terminals, and read more over here.

Source: Mashable

An Algorithm For Predicting Supreme Court Rulings

August 25, 2014 in Daily Bulletin

David Kravets wrote about an equation created by researchers to predict Supreme Court rulings:

  • The model has a 70% accuracy rate when predicting the rulings of Supreme Courts going back 60 years.
  • In contrast a Supreme Court fantasy league (seriously) has found that its power players have an accuracy rate of about 75%.
  • Fantasy SCOTUS and creators of the algorithm will soon be holding a competition to see which one is more accurate.
  • If effective, the model could be used to help litigators determine their trial strategy.
  • The model uses information about the justices such as the party that appointed them and the year they were born as variables.
  • It also takes into account information about the case and the general disposition of the court among the 90 variables it tracks.

Read about the model, how it works, why it’s better than models before it, and more over here.

Source: ArsTechnica

The Economics Of Super Bowl Performances

August 24, 2014 in Daily Bulletin

Jordan Weissmann wrote about some news coming out of the Super Bowl:

  • Typically performers of the Super Bowl halftime shows don’t get paid – the publicity bump they get is compensation enough.
  • Now the game organizers are exploring the idea of having the performers pay to have the right to perform at the event.
  • The logic goes that the Super Bowl deserves some of the income that the artists will get as a result of the show.
  • If this practice becomes institutionalized then in the future we might only see artists who desperately need a publicity bump and are willing to pay for it perform. This may well hurt the quality.

Read more here.

Source: Slate

Consumers Love Athletic Clothing. Athletics Not So Much.

August 22, 2014 in Daily Bulletin

Sara Germano wrote about the surge in demand for athletic clothing:

  • In a economy that continues to struggle, athletic apparel is a bright spot, expected to grow by almost 50% to $200 billion by 2020.
  • What’s odd though is that while demand for exercise clothing is high, consumers are increasingly avoiding exercise.
  • Instead wearing athlete clothing seems to be becoming fashionable, especially with millennials.
  • This business is known as “athleisure”.
  • Demand for yoga clothing, for example, is growing about ten times faster than participation in yoga.
  • Boots and flannels are also becoming popular with those who have no plans to go hiking.

Read about the peculiarities of the athleisure market, what wearers of the clothing have to say, and more over here.

Source: The Wall Street Journal

The Future Of Room Service?

August 21, 2014 in Daily Bulletin

The Economist looked at a robot serving guests at a hotel in Silicon Valley:

  • The robot is called “botlr”, has a bow tie, and can deliver food and other items to guest rooms.
  • As they don’t need to be awkwardly tipped, travelers may come to prefer robot bellhops.
  • In lieu of a tip Botlr does ask that guests tweet a thank you message.
  • The hotel experience in general is increasingly getting rid of humans. Check in and check out can be done online, phones can act as keycards, and concierges can be reached via Twitter.

Read about why the writer thinks that handing out tips to humans might just be worth it after all, what unions think of the robot, and more over here.

Read more of Centives’ coverage of room service here.

Source: The Economist

How One Movie Transformed Hollywood

August 19, 2014 in Daily Bulletin

Over at Cracked David Wong and Tom Reimann argued that 1995 film Waterworld transformed the movie industry:

  • The film was over budget to the tune of $175 million – making it the most expensive film in history at the time.
  • It was a disappointment at the American box office, failing to make back its cost of production.
  • But it was a smash hit overseas – as a mindless action flick people from all cultures could enjoy it, even if they didn’t speak the language or understand the cultural references.
  • That taught Hollywood that the real money was in making films that appeal to people all over the world – rather than deeper more introspective films.
  • Thus while in the past films rarely made international debuts – usually only if they were already successful in the American market – these days they open everywhere at the same time.
  • American moviegoers have seen the quality decline which is why theater attendance and domestic box offices have been falling.
  • But global revenues are up boosting movies like Transformers and Iron Man 3.

Read about the economics of the industry, why this is a natural consequence of globalization, how television is now the place to go for quality and more over here.

Source: Cracked

The Economics Of State Airlines

August 18, 2014 in Daily Bulletin

The Economist took a look at state airlines:

  • Even before the recent disasters Malaysia airlines was no different from most other state airlines in its struggles to be profitable.
  • Countries got into the habit of keeping state airlines because they were believed to be an important part of a country’s transport infrastructure.
  • However in an era of low cost carriers and competitive management, state backed carriers have failed to adapt.
  • This is because they are usually run with political motives in mind. Government cronies are appointed to manage the carriers and planes are forced to serve unprofitable routes.
  • They are also hamstrung with rules such as free rides for politicians.
  • Meanwhile they face higher costs than other airlines as they are usually too small to negotiate good prices on aircraft.
  • In addition to the bad press associated with firing thousands of workers, some politicians fear that shutting down state airlines will cause vital connection to other countries to disappear.
  • However countries such as Switzerland and Belgium indicate that the absence of an airline does not harm a country’s prospects.

Read about the bailouts that debt ridden Italy had to provide its airline, why Greece’s Olympic airlines was forced to deliver newspapers, and why abandoning state airlines might make countries better connected to the rest of the world over here.

Source: The Economist

The Future Of Motorcycle Helmets

August 17, 2014 in Daily Bulletin

Jordan Crook wrote about a helmet that will make you wish you owned a motorcycle:

  • An inventor has designed a helmet that allows riders to have a digital rearview mirror so they can see what’s behind them without turning their head.
  • It also comes with turn by turn GPS directions. It has “infinitely variable focal distance” so that it will stay in focus no matter where the rider looks.
  • The helmet connects to phones via Bluetooth, runs on battery, and lasts for up to 9 hours.
  • It’s called the Skully Smart Motorcycle Helmet and it costs $1,499.

Read about the motorcycle road safety problems this device aims to resolve, details about how it works, and more over here.

Source: Techcrunch

How Firms Have Learned To Deal With Chinese Government Raids

August 15, 2014 in Daily Bulletin

In recent times firms such as Mercedes-Benz and Microsoft have been targets of surprise raids by Chinese officials. Unlike in other countries the legal protections offered to business are few. Michelle Price and Norihiko Shirouzu wrote about how companies have learnt to live with the raids:

  • Companies have started conducting mock raids to teach employees how to act in the event that one happens.
  • Workers are encouraged to offer their raiders tea or coffee and to have lunch with them as a sign of cooperation and openness.
  • Exchanging business cards is seen as polite and can help to build a rapport, as well as allow legal experts to track down raiders through China’s plethora of bureaucracies.
  • The raiders maybe distracted by other things at their targets’ offices. In at least one case a raider spent most of his time flirting with a secretary.

Read about the relative absence of legal protections in China, why it matters which organization is doing the raiding, and more over here.

Source: Reuters