Ode To Capitalism

OTTAWA — A Canadian warship has made a major drug bust at sea.

The Department of National Defence says the HMCS Toronto has seized around 500 kilograms of heroin from a boat in the Indian Ocean.

The drugs were found after a naval boarding party searched the vessel as part of a security operation this past Friday.

"During this inspection, the boarding team recovered approximately 500 kilograms of heroin with an estimated street value of more than $100 million," the defence department said in a release Sunday.

The Theft of "Black Gold" on the High Seas

29 Mar

Reblogged from Lori Ann LaRocco's Blog:

Pirates have been romanticized in the movies and books for years, but the reality of these individuals is anything but sexy or exciting. Recently at the distinguished Heidmar Marine Forum, I had the privilege of speaking on a panel talking about America's Energy Revolution. While sitting in the audience waiting for my panel to begin, I listened to a very sobering topic- the Piracy in West Africa.

$277M USS Guardian is a complete loss: Navy plans to dismantle ship that ran aground in Pacific

31 Jan

Reblogged from National Post | News:

HONOLULU -- The U.S. Navy plans to dismantle a minesweeper that ran aground on a coral reef off the Philippines because the ship is a complete loss and because removing it intact would cause more damage to the reef and the ship's hull, a spokesman said Wednesday.

There's also a chance the USS Guardian might break up or sink if crews tried to remove it without taking it apart first, U.S.

Why the world's biggest hedge fund missed big in 2012

25 Jan

Reblogged from Fortune Finance: Hedge Funds, Markets, Mergers & Acquisitions, Private Equity, Venture Capital, Wall Street, Washington:

Bridgewater Associate's Ray Dalio has long been one of the market's best seers. That could be coming to an end.

FORTUNE -- Here's what needs to be asked about giant hedge fund Bridgewater Associates and its founder Ray Dalio: Is this guy really worth $2 billion a year? That's roughly the amount investors paid his firm in management fees in 2012.

Study Finds That We Still Believe Untruths Even After Instant Online Corrections

24 Jan

Reblogged from TechCrunch:

If you've ever wondered why birthers, inside jobbers, and other conspiracy theorists won't simply take the truth at face value, two researchers at OSU have found that we tend to ignore - and reject - instant corrections to data.

The study, performed by R. Kelly Garrett and Brian Weeks, examined what happens when untruthful information is immediately corrected in a news story.

Japan Confirms Dock on Washington Coast Is Tsunami Marine Debris

19 Jan

Reblogged from NOAA's Response and Restoration Blog:

The Japanese Consulate has confirmed that a 65-foot, concrete-and-foam dock that washed ashore in Washington’s Olympic National Park in late December 2012 is in fact one of three* docks from the fishing port of Misawa, Japan. These docks were swept out to sea during the earthquake and tsunami off of Japan in March 2011, and this is the second dock to be located.

Graphic: Out of Africa - Did the Colonial Powers ever Really Leave?

18 Jan

Reblogged from National Post | News: