Definitely not seeing Phil Ivey at the World Series of Poker tournament he is definitely expected at

Big time pro poker player Phil Ivey is definitely avoiding the WSOP at the moment, states Big Lead Sports. According to Ivey’s accusation in court, his and WSPO associate Full Tilt Poker has yet to refund online poker player funds long after the United States government shut down online poker houses. As federal agents consistently work with online gambling online websites to refund online poker gamblers, parent business Tiltware, LLC, has held on to over $150 million in customer funds, a decision that has inspired Ivey to take Tiltware to trial.

The ‘deeply disappointed’ Ivey after Full Tilt’s actions

Full Tilt’s actions are more than just embarrassing, Phil Ivey said on his Facebook page. He said it makes it extremely hard for qualified poker players to get a better reputation without going to buy-in tournaments.

“I am not playing in the world Series of Poker, as I do not believe it is fair that I compete when others cannot,” writes Ivey. “I am doing everything I can to seek a solution to the problem as quickly as possible.”

Reputation of Phil Ivey definitely not doing this well

Ivey thinks that his reputation has been damaged in the past few months since he has been closely associated with Full Tilt and the company has not done anything. Ivey had to think of something he could do. He is definitely going decided to sue Full Tilt Poker’s founder, Tiltware, LLC. From Ivey’s Facebook statement against his (perhaps) former team:

“I sincerely hope this statement will ignite those capable of resolving the problems into instant action… I will dedicate the entirety of my time and efforts to finding a solution for those who have been wronged by the painfully slow process of repayment.”

Full Tilt allegedly had no bank reserve account

One thing Levy accuses Tiltware of is not having a financial institution reserve account for Full Tilt Poker. This made it so players could not effortlessly be refunded. Just like banks invest money deposited into them, online poker online websites invest the money deposited into them. Full Tilt does this also, reports International Business Times.

Federal regulators are aware of this, and hence there are laws governing reserves that must be maintained by individual banks (or online gambling sites). It appears that Full Tilt is definitely either unwilling or unable to refund all the customer money in once. Since online gambling websites don’t typically have any kind of FDIC insurance like banks do and generally they don’t get financial institution bailouts, this could possibly be a very risky place for customers to put their money. The government would have to open the nation’s wallet for players to get their money back.

Articles cited

Big Lead Sports

thebiglead.com/index.php/2011/06/01/phil-ivey-is-boycotting-the-world-series-of-poker/

Casino Scam Report

bit.ly/loVhfI

International Business Times

bit.ly/mR3mMV

Wall Street Journal

online.wsj.com/article/SB10001424052748704628404576265060852516194.html

A car headlamp course

Most drivers only know whether their car headlights are working or not. There’s a fascinating story behind the evolution of the headlamp, Popular Mechanics explains to us. Knowing how they work and the way to maintain them is much more than interesting, but can conserve you from unwanted collisions.

From open fire to blinding flash

Either kerosene or acetylene was used over a century ago for headlamps. These open flames were eventually swapped out by small electric blubs within a reflector/lens casing. As old bulbs suffered from insufficient insulation, corrosion was common and would quickly dim the lights. Before the corrosion though, the lights were like constant high beams. In fact, they ended up becoming illegal in 1941 by the U.S. government since they would almost blind people.

Sealed-beam lights around now

Standard household light bulbs seemed to be comparable to Tungsten filament bulbs. By the 1920s, people started to have switches for high and low beam lights. Since bulbs were quite cheap to make, the brightness and beam control was inconsistent. By 1973, sealed-beam lights were exchanged by quartz-iodine technology.

The next move

QI is the Quartz-Iodine light. It is the standard headlight right now. The bulb is fairly much tiny. It is better protected too with the sealing materials we have today. Quartz glass can stand higher temperatures, so the filament can burn hotter, producing brighter light. When a QI bulb is replaced, headlamps do not need re-aiming to occur. Modern filaments make this possible.

HID: Like a bolt from the heavens

HIDs are known as high-intensity-discharge bulbs. They look like little lightning bolts with their arc. While a high initial current is needed to turn the bulb on, once an HID is up and running it requires less energy than a standard QI lamp. Most observers claim an HID produces a crisper beam, but because they take a moment to reach full intensity, high-beams on HIDs could be problematic, particularly in emergency situations. It can cost a lot, but you are able to modify HID arrays with QI bulbs.

Bulbs that shine like crazy

Taillights already use LED (light-emitting diode) lights, but they are not standard for headlamps yet. According to Popular Mechanics, only the Audi A8 has them standard today. LEDs light up very quickly which allows people to see further distances with the bright and power efficient LED light.

If you don’t own an Audi A8 and want to experience LED headlights now, there are DIY options accessible, such as the one described at the Instructables site. Keep in mind that because LEDs use so little power, conventional turn signal switches aren’t compatible. In order to get the right current going, you’ll have to switch them out.

Citations

Instructables

instructables.com/id/DIY-LED-car-headlights!/

Popular Mechanics

popularmechanics.com/cars/how-to/maintenance/how-your-headlights-work

An inside look at LED headlights

youtube.com/watch?v=wSkQ4h-sFiY

Loughner found incompetent

Jared Lee Loughner, arrested for a deadly shooting rampage in Tucson Ariz. on Jan. 8, has been ruled incompetent to endure trial. Loughner, after an angry episode, was pulled out of the trial Wednesday by U.S. Marshals.

Tucson shooting hurt 13 individuals and killed another six

Gabrielle Giffords is a U.S. Representative who was having a community meeting outside a supermarket where the shooting spree occurred on Jan 8. Loughner allegedly opened fire, leaving six people dead, including a 9-year-old girl and U.S. District Judge John Roll. Thirteen other people were hurt, including Rep. Giffords (D), who continues to recuperate from her head injuries. Loughner has pleaded not guilty to all of the 49 federal charges he received from the Jan. 8 shootings.

How he acted in pretrial

The 22 year old defendant said “Thank you for the freak show. She died in front of me,” while in the pretrial hearing, although it was unclear. Who he was referring to is unclear. Nobody knows.

Loughner was asked by U.S. District Judge Larry Burns is he wanted to behave in the court room or watch the court from another room on a TV screen to which Loughner said, “I want to watch the TV screen.”

Those who survived the attack there

There were two survivors, maybe more, of the attack that heard the outburst in the court room. Pam Simon was Gifford’s aide who was shot in the right wrist and chest. A bullet hit the back of Army Col. Bill Badger’s head, and he also attended. Loughner was subdued by people after the attack including Badger.

Defendant considered not competent

Judge Burns was asked in March to choose whether or not Loughner would be able to stand trial, which caused the hearing. After Loughner was looked at by a Jail Bureau psychologist and a court-appointed expert, Burns made his decision. Both decided that Loughner was incompetent. ”The defendant was not able to comprehend the charges,” according to Burns.

Four months at federal facility

Until Loughner is considered competent or about four months, Loughner will be in a federal facility. Another hearing will be scheduled later. It will occur September 21. He will be able to stay even longer after the four months are up. This is assuming he is considered incompetent still. It doesn’t matter how long he stays there. His stay could be extended several, many times.

How the defense will use this

It is unclear whether Loughner’s lawyers plan to argue an insanity defense. They have described him as a “gravely mentally ill man” and say that the problem will make a difference to the trial in court filings though.

Citations

Huffington Post

huffingtonpost.com/2011/05/25/jared-loughner-tucson-shooting_n_866723.html

Bloomberg

bloomberg.com/news/2011-05-25/giffords-shooting-suspect-loughner-taken-out-of-courtroom-after-outburst.html

CNN

cnn.com/2011/CRIME/05/25/arizona.loughner.competency/?hpt=T1

How the NBA mock draft 2011 will go

Basketball authorities like ESPN’s Bill Simmons and Chad Ford do not see big things coming out of the 2011 NBA Draft, but some solid picks will be accessible. Here are the top 10 NBA mock draft picks for 2011, in case your team needs help.

Cleveland Cavaliers can be drafting Kyrie Irving, PG (Duke)

Even though Kyrie Irving isn’t amazing, he has great potential. He should be a top-15 point guard eventually. Considering the Cavs still need the kind of leadership Baron Davis’ scraggly beard and oversized ego could not provide, Irving could serve them well.

Minnesota Timberwolves considering Enes Kanter, C (Turkey) as a pick

The Wolves needs to work on building itself up again even though Kevin Love had a fantastic season. If the team is going to keep Love interested, they’ll need a big male to make them respectable. Many look at the 6-foot-11, 272-pound Kanter as a high-energy rebounder and defender that may scare opposing guards while others think it is a gamble.

Chances of Utah Jazz choosing Derrick Williams, SF (Arizona)

Even though Williams was a power forward as a Wildcat, he will most likely be a small forward in the NBA. Utah may simply give up on the rest of the 2011 NBA Draft crop and ask for a popular man. This would be BYU’s Jimmer Fredette.

Cleveland Cavaliers could pick Jonas Valanciunas, Center (Lithuania)

Anderson Varejao may need a large male such as Valanciunas to help him out.

Toronto Raptors: Kemba Walker, PG (Connecticut) chances

Toronto badly needs a new direction at the point guard position, and Kemba Walker brings the speed, athleticism and moxie the rudderless Raptors’ roster needs.

Washington Wizards have the choice of Kawhi Leonard, SF (San Diego State)

A relentless rebounder and explosive athlete, Leonard is the kind of wing player the Wizards need to run with John Wall.

Sacramento Kings: Brandon Knight, Point Guard, Kentucky

Speed, defense and a good outside shot from the point in Knight would allow the Kings to use Beno Udrih as the super backup or 2nd ball-handler the offense needs to really get moving.

Detroit Pistons: Jordan Hamilton, SF (Texas) possibility

The Pistons will soon be losing Tayshaun Prince. That means they need a small forward soon. Hamilton can both shoot and rebound the ball.

Charlotte Bobcats: Fredette, Shooting Guard (Brigham Young University)

In order to make sure there is at least one consistent scorer, Charlotte will hope to get Fredette. Otherwise, Bismack Biyombo from the Congo should amp up the frontcourt athleticism while aggressively challenging shots.

Milwaukee Bucks wants Tristan Thompson, Power Forward (Texas) probably

Thompson is 6-foot-8 and 225 pounds. He is a fairly athletic man too. After the failed Yi Jianlian pick from 2007, the Bucks can be worried about going international. If they can get over it, they may just pick Biyombo.

Information from

Bleacher Report

bit.ly/kuOQ8z

Fox Sports

msn.foxsports.com/nba/story/2011-NBA-draft-lottery-winner-051711

The Sporting News

bit.ly/kYTnGq

2011 NBA Draft Lottery highlight: The final three

youtube.com/watch?v=GqWuPdf8u2o

Senate does not want 401(k) funds used as personal installment loan

The Senate is trying to keep people from using their 401(k) money as a source of personal loans. The new bill that is being put forth would limit how many times an individual can draw from retirement accounts before retirement.

Reason for retirement account

Business Week states that a permanent cap on the number of times an individual can take money out of an IRA fund such as a 401(k) might become reality with a bill the Senate is looking at. The reason why Senators Herb Kohl (D-WI) and Mike Enzi (R-WY) are hoping to create this limit is so that individuals don’t ruin their futures for an immediate need taken out of their 401(k) accounts. Senator Kohl is especially passionate about the bill. He said a retirement account isn’t “a piggy bank” and should not be treated as such. The “SEAL 401(k) Savings Act” is the bill. That is what it was named.

About 28 percent of people borrow from account

Aon Corp did a study and found that by the end of 2010, about 28 percent of people with a retirement account for instance a 401(k) borrowed, on average $7,860, from the account. About 58 percent of people who took personal installment loans out of their retirement funds had at least two large loans also. Defaulting was common among 70 percent of borrowers too. This was only if they borrowed from their retirement. Fidelity Investments, according to USA Today, found that about 22.5 percent of 401(k) those with accounts with Fidelity had a loan balance outstanding at the end of 2010. Between one fifth and one third of individuals had to use their 401(k) accounts or other retirement accounts for an emergency at some point.

Problem with retirement

The prospect of being able to retire one day, and to do so with confidence, is becoming more daunting for several individuals. Since parts of checks have been taken out for Social Security, Medicare and Medicaid, individuals just expect these programs to be there. These programs might not work as well as expected though. Social Security is on track to becoming insolvent, and the Social Security Administration would have to raise $6.5 trillion to become totally solvent again, according to CNN. In the next 25 years, the Social Security Trust Fund will most likely be depleted, and it cannot be fixed with the current Social Security payroll taxes.

Information from

Business Week

businessweek.com/news/2011-05-18/senate-bill-would-limit-use-of-401-k-s-as-rainy-day-funds.html

USA Today

usatoday.com/money/perfi/retirement/2011-05-11-401k-retiement-accounts-up_n.htm

CNN

money.cnn.com/2011/05/18/pf/expert/expert-social-security.moneymag/?section=money_latest

Powers of CFPB may be cut before it launches

The Consumer Financial Protection Bureau is going to launch in July. There are three bills in Congress that would have an effect on the CFPB. None of these bills have become law yet. All three, however, have been approved for House debate.

CFPB status

The Dodd-Frank Act started the Consumer Financial Protection Bureau to “promote fairness and transparency for mortgages, credit cards and other consumer financial products and services.” The bureau is set to open for the first time in July of 2011. There still is not Consumer Financial Protection Bureau director that has been added, despite the deadline. Without a director, the Consumer Financial Protection Bureau will continue to run. It will be under the direction of the Security of Treasury.

Bills to weaken Consumer Financial Protection Bureau introduced

It might not be long before the Consumer Financial Protection Bureau is weakened. Three bills in the U.S. House of Representatives have been introduced that might do this. Instead of a Consumer Financial Protection Bureau director, there would be a five-member commission with HR 1121. This is called the Responsible Consumer Financial Protection Regulations Act of 2011. HR 1315, called the Customer Financial Protection Safety and Soundness Act, would give the Financial Stability Oversight Council of the Department of Treasury the right to overturn any rules made by the CFPB. The agency wouldn’t be able to start without a director if the Bureau of Customer Financial Protection Transfer Clarification Act were to pass, or HR 1667. These three bills have been approved by the Financial Services Committee and will be debated in the House.

What the Consumer Financial Protection Bureau will do

Though the duties and responsibilities of the Consumer Financial Protection Bureau may change, there are several things the Bureau will likely remain responsible for. The Consumer Financial Protection Bureau will be in charge of customer protection. They’ll monitor financial products with this in mind. There are already a lot of federal financial laws. The Consumer Financial Protection Bureau would be in charge of enforcing this. Finally, the Bureau will have a ton of information available. Consumers will be able to access the information.

Information from

Treasury.gov

treasury.gov/initiatives/Pages/FSOC-index.aspx

WalletPop

walletpop.com/2011/05/12/5-things-the-consumer-financial-protection-bureau-will-do-for-yo/

House.gov

house.gov/

Mississippi river crests as worst is finished for Memphis

For the past few several weeks, the Mississippi river has been flooding and battering the American south. The most detrimental of it is over for Memphis, Tenn., as the river has crested near the Music City and floodwaters will only recede from here on. Though Memphis is past the worst of it, several other areas are still in danger of flooding.

Homeless people

Some of Tennessee’s amazing landmarks are just fine, although finished 1,000 people are considered homeless now. BBC states that Music City’s Beale Street district was not hurt by floodwaters at all. The Mississippi has not harmed Graceland, the estate that was the home of Elvis Presley in his later life until his death in 1977. One of the officials of the Shelby County Emergency Management Agency, the county Memphis is located in, was quoted as saying people would be willing to “charge hell with a water pistol” to keep Graceland safe. CBS reports that there have been over 1,300 homes evacuated in fears that the Memphis area could have more flash floods. It will take time for the water to recede back to normal.

Swollen Mississippi crests

After the snowfall near record on the East Coast of the United States, the Mississippi river has gotten very high. There was a 48 feet flood near Memphis though. That is just 10 inches lower than the 1937 record was. Though the worst of the danger is coming to an end in Memphis, there is considerable danger left for the rest of the cities and states along the path of the Mississippi river. Precautions are being taken to make sure that other areas are saved although floodwaters in the Mississippi river system and Mississippi river delta are showing lots of problems already. Pressure on the New Orleans’ levees should be relieved by the Bonnet Carre Spillway, reports MSNBC. The Army Corps of Engineers just opened it up. Floodwaters are already coursing through the delta, but measures are being taken to further prepare the area for the huge volume of water that is heading in that direction.

Not as bad as 1927 floods

The Christian Science Monitor reports that even though the flood levels are bad, they are not as bad as the floods in 1927 killing hundreds and costing millions. Due to the 1927 floods, there were finished 2,000 miles of levees made by the U.S. Army Corps of Engineers. The caveat is that every time a spillway has to be opened to keep flooding from becoming too harmful, other areas are flooded as water is diverted from the bulging Mississippi. As the water gets closer to the Gulf of Mexico and spillways have to open, finished 900,000 acres of farmland in Arkansas is anticipated to flood.

Information from

BBC

bbc.co.uk/news/world-us-canada-13337548

MSNBC

msnbc.msn.com/id/42973616/ns/us_news-environment/

CBS

cbsnews.com/stories/2011/05/09/travel/main20061138.shtml

Christian Science Monitor

csmonitor.com/USA/2011/0509/Mississippi-River-nears-crest-in-Memphis-but-concern-shifts-south