Econintersect: Every day our editors collect the most interesting things they find from around the internet and present a summary "reading list" which will include very brief summaries of why each item has gotten our attention. Suggestions from readers for "reading list" items are gratefully reviewed, although sometimes space limits the number included.
As Sunnis, Shiites Battle, Are Iraq's Kurds Preparing to Declare Independence? (Robert Windrem, NBC News) A new independent country of Kurdistan is a possibility but a confederation within a restructured Iraq with two or more autonomous regions is still a possibility. One thing is likely, however, and that is that the Kurds will control a larger area in the future and will strengthen their autonomy, if not complete independence.
Debunked: 5 Lightning Myths That Could Kill You (Jonel Aleccia, NBC News) You don't have to be in a storm to be in danger. If you can hear thunder get into shelter. And ground lightning is just as dangerous as a strike from the air. Read the detailed list of five myths.
Today there are 7 articles discussed 'behind the wall'.
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SCOTUS rules inherited IRAs are not retirement funds (Susan Jordan, Employee Benefit News) Retirement funds such as IRAs and 401(k) accounts are protected from claims of creditors under U.S. bankruptcy law. The Supreme Court has ruled that an inherited IRA does not qualify as a retirement account for the beneficiary and is therefore subject to claims of creditors in a bankruptcy proceeding.
They Belong in Prison, Not on TV (William Rivers Pitt, Truthout.org) Hat tip to Rob Carter. A very harsh critique of our (mis-)adventures in Iraq from one whose criticism started in August 2002.
Performance for pay? The relation between CEO incentive compensation and future stock price performance (Michael J. Cooper, Huseyin Gulen and P. Raghavebdra Rau, Social Science Research Network) The authors plotted "abnormal returns" (substantially the difference between industry averages and the individual companies) and found that the highest executive compensations packages appear to be extremely extractive of company value as reflected by the accumulated loss in stock price over the three years following the measured compensation. For companies with the lowest executive compensations there was also a small negative relative to the "normal returns". Note: Presumably there were one or more groups of pay levels that gave a positive result for shareholders (to produce an industry average deviation of zero), but that was not displayed.
US oil refiners taking advantage of changing energy landscape (Walter Kurtz, Sober Look) Increased pipeline capacity as well as higher rail traffic to the gulf coast refiners has dramatically reduced the "oil glut" at Cushing, Oklahoma. Kurtz provides another graph which shows the refinery capacity utilization rising in mirror image of the inventory drop. Will there be enough increased new supply to keep this refinery production going or will we see crude shortages driving up fuel costs after the Cushing oversupply is all gone?
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