OneHourAhead

I know this is the second post in two days from someone no longer blogging but felt it was important.  Previous optimism was ill-founded, Muxtape is no more.  Go read Justin’s tale of just trying to spread music.

I was finally personally affected by the credit crunch today.  There shouldn’t be any real repercussions for me but my bank here in the US, Wachovia, was bought out by Citigroup today in a $2.1 Billion deal.  Apparently the bank “did not fail“.

From the FDIC press release:

“For Wachovia customers, today’s action will ensure seamless continuity of service from their bank and full protection for all of their deposits.” said FDIC Chairman Sheila C. Bair. “There will be no interruption in services and bank customers should expect business as usual.”

And Wachovia’s press release in full (although I haven’t received anything from the bank):

September 29, 2008
Wachovia Announces Bank Subsidiary Divestitures to Citigroup
Wachovia Corporation to become a focused leader in retail brokerage and asset management.
CHARLOTTE, NC—Wachovia today announced intentions to sell its retail bank, corporate and investment bank and wealth management businesses to Citigroup. Wachovia Corporation will remain a public company with two main operating subsidiaries:  Wachovia Securities, the nation’s third largest brokerage firm, and Evergreen Asset Management, a leading provider of asset management services.

“During recent weeks, the financial landscape has changed significantly and presented us with unprecedented challenges,” said Robert K. Steel, CEO and President of Wachovia.  “Today’s announcement is the best alternative for the company, enabling a resolution on the Golden West portfolio.”

Under terms of the transaction, Citigroup will pay $2.1 billion to Wachovia and assume the senior and subordinated debt of Wachovia Corporation.

The transaction is expected to close before year-end. It has been approved by directors of both companies and is subject to shareholder approval of Wachovia and the appropriate regulatory approvals.

Customers of both companies should continue banking as usual, and feel confident that their deposits are secure. Also, employees and vendors should continue to operate business as usual.

At this time, there are no changes to Wachovia’s board of directors and two Wachovia directors will join Citigroup’s board.

Wachovia Corp. will remain headquartered in Charlotte, NC.  Wachovia Securities will continue to be headquartered in St. Louis, MO. Citigroup will headquarter the retail bank in Charlotte and the investment bank in New York.

Wachovia’s investment bankers were Goldman Sachs, Perella Weinberg Partners and Wachovia Securities, and its legal advisors are Sullivan & Cromwell and Simpson Thacher & Bartlett.

Just in case you were wondering, it wasn’t my fault!  I owe ‘em nowt.

From Mat:

Silly meme: Choose a singer/band/group — answer using ONLY titles of songs by that singer/band/group.

1. Are you male or female? I’m a Poseur
2. Describe yourself. M.E.
3. What do people feel when they’re around you? Pure
4. How would you describe your previous relationship? I Nearly Married a Human
5. Describe your current relationship. We Take Mystery (To Bed)
6. Where would you want to be now? Down In The Park
7. How do you feel about love? A Prayer For The Unborn
8. What’s your life like? Complex
9. What would you ask for if you only had one wish? One Perfect Lie
10. Say something wise. Listen To My Voice

CNN are reporting that Sarah Palin, the current Governor of Alaska is McCain’s choice for his VP.

So either a black President or a female VP - exciting times.

Due to our man in Dundee, I have been listening to Dusty Springfield all week. So here is a little more for your delight:

University College London seems to have been chosen by the Wellcome Trust and the Gatsby Charitable Foundation to host a new £140-million centre dedicated to the research of neural circuits and behaviour. From the UCL website:

The Gatsby Charitable Foundation (Gatsby) is delighted that the Wellcome Trust (Wellcome) is collaborating with them for the purpose of developing a new Research Centre in Neural Circuits and Behaviour, to be called the Sainsbury–Wellcome (S–W) Centre, and to support individual researchers in the field of Neural Circuits and Behaviour elsewhere in the UK and the Republic of Ireland. Gatsby and Wellcome, advised by an international panel of eminent neuroscientists, have selected University College London (UCL) as the preferred host for the Centre. It is hoped that a final decision and formal agreement with UCL will be reached before the end of the year. Further information about the initiative will be made available in due course.

UCL already has a strong neuroscience department so this will really set out the university and London as being the centre for neuroscience within Europe.  From Nature News:

The institute will reportedly work mainly with model organisms such as mice, fruitflies and nematodes. It will employ newly developed techniques such as optogenetics, which allows researchers to switch genetically modified neurons on and off using light. It is believed that the institute will eventually host some 12–15 research groups at a new £60-million building on Huntley Street in Bloomsbury, near both the Wellcome Trust and UCL’s central campus.

Exciting (if you’re a neuroscientist)

If you look at my sidebar you’ll see under the ‘My Mux’ RSS feed

An error has occurred; the feed is probably down. Try again later.

A quick trip to the site gives us the reason

Yep, Muxtape, a site that was doing no harm to anyone, that linked each song to where you could buy it on Amazon, that had had no complaints from any artists, a site designed to spread the word of unknown music has been taken off the air while they deal with the RIAA.

The say the outage is just temporary and I hope so.  When it comes back up I urge you all to go and make your own mux to spread your own eclectic tastes to the word.

Just watching skins on BBC America.  They have had to subtitle it.

So much to choose from, where does one start?  Actually reading back through my list of posts at Alex’s suggestion I realised that most of it was tat. I am actually quite ashamed. I think my new blog year resolution should be to write a bit more thoughtfully so that come this time next year I rule the world.  Bwhahahaha.  But here are four posts which I would like you to re-read, even if not actually worthy of votes at LDV towers:

1. An early description of La Nuit des Musees in Lausanne.  I still don’t know whether anything like this happens in the UK but if any local councillors are listening…
2. How it might be possibly to invigorate the economy in the world’s poorest regions through science.
3. I still have this idea in the back of my head even if others seem less enthused.
4. My final post from Switzerland, looking at life in the Alpine enclave.

And if you still have time, you should still watch The Wire instead of Dr Who (just put that one in to piss off Alex!)