Vikram's posterous http://vikram.posterous.com Stay in school if you don't want to grow up. posterous.com Sun, 13 Sep 2009 17:00:51 -0700 Milla and Troy http://vikram.posterous.com/milla-and-troy http://vikram.posterous.com/milla-and-troy

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http://files.posterous.com/user_profile_pics/18429/DSC_0013.JPG http://posterous.com/users/10Aq6qE3aw1 Vikram Vikram
Thu, 20 Aug 2009 08:12:53 -0700 Milla (before and after her haircut) http://vikram.posterous.com/milla-before-and-after-her-haircut http://vikram.posterous.com/milla-before-and-after-her-haircut

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http://files.posterous.com/user_profile_pics/18429/DSC_0013.JPG http://posterous.com/users/10Aq6qE3aw1 Vikram Vikram
Thu, 13 Aug 2009 18:40:06 -0700 Mike Vick http://vikram.posterous.com/mike-vick-1 http://vikram.posterous.com/mike-vick-1 I love dogs and other animals to the extent that I now have two rescued dogs and am a vegetarian. 
That said, I find it absurd that Michael Vick went to jail for what he did, and even more ridiculous that he has been suspended from the NFL. 

If you eat anything short of free range, grass fed meat and are upset about Mike Vick being back in the NFL (he signed with the Eagles today), you are a hypocrite. Nearly all industrially farmed animals are treated at least as badly as Vick's dogs were. If you are OK with keeping such an industry in business, you have no right to point a finger at Vick. His crime was different from yours only in that you had someone else do it for you.

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http://files.posterous.com/user_profile_pics/18429/DSC_0013.JPG http://posterous.com/users/10Aq6qE3aw1 Vikram Vikram
Thu, 13 Aug 2009 14:45:27 -0700 Milla http://vikram.posterous.com/milla-7 http://vikram.posterous.com/milla-7 MIlla is the latest addition to our family. She's a two year old rescued Jack Russell Terrier from Ohio.

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http://files.posterous.com/user_profile_pics/18429/DSC_0013.JPG http://posterous.com/users/10Aq6qE3aw1 Vikram Vikram
Sat, 31 Jan 2009 16:13:41 -0800 Pittsburgh (Superbowl XLIII Weekend) http://vikram.posterous.com/pittsburgh-superbowl-xliii-wee http://vikram.posterous.com/pittsburgh-superbowl-xliii-wee

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http://files.posterous.com/user_profile_pics/18429/DSC_0013.JPG http://posterous.com/users/10Aq6qE3aw1 Vikram Vikram
Fri, 23 Jan 2009 16:25:57 -0800 First of many promises to be broken. http://vikram.posterous.com/first-of-many-promises-to-be-b http://vikram.posterous.com/first-of-many-promises-to-be-b

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http://files.posterous.com/user_profile_pics/18429/DSC_0013.JPG http://posterous.com/users/10Aq6qE3aw1 Vikram Vikram
Fri, 23 Jan 2009 16:17:00 -0800 I wish he were in our Legislature. http://vikram.posterous.com/i-wish-he-were-in-our-legistla http://vikram.posterous.com/i-wish-he-were-in-our-legistla

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http://files.posterous.com/user_profile_pics/18429/DSC_0013.JPG http://posterous.com/users/10Aq6qE3aw1 Vikram Vikram
Thu, 22 Jan 2009 18:05:50 -0800 This is just awful. http://vikram.posterous.com/this-is-just-awful http://vikram.posterous.com/this-is-just-awful http://www.amnesty.org/en/news-and-updates/news/israeli-armys-use-white-phosp...

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http://files.posterous.com/user_profile_pics/18429/DSC_0013.JPG http://posterous.com/users/10Aq6qE3aw1 Vikram Vikram
Thu, 08 Jan 2009 13:52:49 -0800 Seema's lewd birthday. http://vikram.posterous.com/seemas-lewd-birthday http://vikram.posterous.com/seemas-lewd-birthday

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http://files.posterous.com/user_profile_pics/18429/DSC_0013.JPG http://posterous.com/users/10Aq6qE3aw1 Vikram Vikram
Fri, 12 Dec 2008 23:46:24 -0800 Finger with pins. http://vikram.posterous.com/finger-with-pins http://vikram.posterous.com/finger-with-pins
Mypicture

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http://files.posterous.com/user_profile_pics/18429/DSC_0013.JPG http://posterous.com/users/10Aq6qE3aw1 Vikram Vikram
Wed, 10 Dec 2008 19:26:07 -0800 Bailout? http://vikram.posterous.com/bailout http://vikram.posterous.com/bailout
According to the US Department of commerce, at it's peak in 2000, there were 1,313,600 people employed by the American automotive industry. The peak number of people employed in automotive parts was 1,022,200. That's a total of 2,335,800. 

Any remotely Bayesian (updates his/her beliefs based on observations: also known as learning) agent would be pessimistic about Detroit's likelihood of ever becoming sustainable again. The big three CEOs' rhetoric is cheap. It's entirely costless for them to state, in front of Congress, that if they are given enough money, the industry will survive. 

The most probable scenario is that, given a bailout, rather than just disappearing, the Auto industry will have a long drawn out death. And this isn't particularly great for workers. They will be confronted by a great deal of uncertainty about their livelihoods. 

A reasonable assumption would be that most workers are, in fact, risk-averse. That is, they would be willing to accept say a year's salary for sure (and look for jobs during that time) rather than a random period ranging from a few months to a few years (the latter being with very small probability). 

Why not just do that? Why don't we just liquidate the "big three" , throw in more of the government's money and offer reasonable unemployment packages to everyone who loses their job as a result? Supposing an average salary of $60,000.00 (this is a reasonable assumption as an order of magnitude: it's not off by a zero or two), a year's compensation for 2,500,000  workers (a generous upper bound) would be about $150 billion. To pay for it, sell whatever assets the auto industry has. And for whatever the difference is, remember that we are willing to pay large amounts for bailouts of all kinds when we think that they might work: think of this as a bailout for the auto worker. 

What are the objectives of an intervention? 
1. Prevent massive job loss.
2. Prevent the repercussions of such a collapse, bringing down the rest of the economy.

A plan like this would address the issue of job loss in a more sustainable way. First, it would shield people who would potentially lose their jobs from uncertainty. Second, it would give people time and resources to invest in human capital: they would be able to gain skills that could help them find other jobs.

If the incomes of those involved in the industry are not affected, their spending is not likely to be affected immediately either. And if they are able to find better/different jobs by the end of their guaranteed salary period, which they should, the persistent effect of a disappearing industry would be mitigated.

As for the supply side, the source of the problem has been the ineptitude of the American auto industry. This wouldn't have been a problem if there weren't competitors to take their lunch. Those competitors have done a better job of adapting market conditions like a shift in demand towards better mileage, lower emissions, etc. 

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http://files.posterous.com/user_profile_pics/18429/DSC_0013.JPG http://posterous.com/users/10Aq6qE3aw1 Vikram Vikram
Tue, 09 Dec 2008 14:26:41 -0800 Botched call by the refs, back when we beat San Diego http://vikram.posterous.com/botched-call-by-the-refs-back http://vikram.posterous.com/botched-call-by-the-refs-back Alright, so if you look at the numbers, the Ravens are only one game behind the Steelers and could easily win the division. 

Suppose they beat us on Sunday and go on to beat Dallas and Jacksonville. Further, suppose Pittsburgh loses to Tennessee and beats Cleveland. Nobody would suggest that this is an unlikely scenario. 

The problem is that Pittsburgh and Baltimore are tied in terms of record, head-to-head, division record, and conference record. It them comes down to point differential. Both teams being crap on offense and amazing on defense, they have similar points differentials. As of now, Pittsburgh has 106 and Baltimore is at  116. Over the next two weeks, that could get closer. And there's a chance that it could be within 7... In which case Baltimore wins the division because of something as absurd as a confused ref who botched his announcement after a review! 

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http://files.posterous.com/user_profile_pics/18429/DSC_0013.JPG http://posterous.com/users/10Aq6qE3aw1 Vikram Vikram
Mon, 17 Nov 2008 18:06:40 -0800 Broken pinky http://vikram.posterous.com/broken-pinky http://vikram.posterous.com/broken-pinky
Mypicture

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http://files.posterous.com/user_profile_pics/18429/DSC_0013.JPG http://posterous.com/users/10Aq6qE3aw1 Vikram Vikram
Sun, 09 Nov 2008 00:43:02 -0800 The actual wedding http://vikram.posterous.com/the-actual-wedding http://vikram.posterous.com/the-actual-wedding I didn't take any pictures. I had my hands full with other responsibilities...

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http://files.posterous.com/user_profile_pics/18429/DSC_0013.JPG http://posterous.com/users/10Aq6qE3aw1 Vikram Vikram
Sun, 09 Nov 2008 00:41:34 -0800 The Madras reception http://vikram.posterous.com/the-madras-reception http://vikram.posterous.com/the-madras-reception

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http://files.posterous.com/user_profile_pics/18429/DSC_0013.JPG http://posterous.com/users/10Aq6qE3aw1 Vikram Vikram
Sun, 09 Nov 2008 00:34:02 -0800 Madras. http://vikram.posterous.com/madras http://vikram.posterous.com/madras Pictures from the trip to Madras.

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http://files.posterous.com/user_profile_pics/18429/DSC_0013.JPG http://posterous.com/users/10Aq6qE3aw1 Vikram Vikram
Sun, 09 Nov 2008 00:30:39 -0800 Oblivious bull. http://vikram.posterous.com/oblivious-bull http://vikram.posterous.com/oblivious-bull Couldn't care less about the bus behind him...

Dsc_0561

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http://files.posterous.com/user_profile_pics/18429/DSC_0013.JPG http://posterous.com/users/10Aq6qE3aw1 Vikram Vikram
Sun, 09 Nov 2008 00:30:11 -0800 Cricket: Karnataka vs Railways Ranji (Ganesh's First Class Debut) http://vikram.posterous.com/cricket-karnataka-vs-railways http://vikram.posterous.com/cricket-karnataka-vs-railways My friend Ganesh Satish had his cricket Debut for Karnataka State. Unfortunately (perhaps fortunately for the team) I didn't get to see him bat since the openers Robin Uthapa and Pavan did a good job.

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http://files.posterous.com/user_profile_pics/18429/DSC_0013.JPG http://posterous.com/users/10Aq6qE3aw1 Vikram Vikram
Sun, 09 Nov 2008 00:21:26 -0800 Day two http://vikram.posterous.com/day-two-6001 http://vikram.posterous.com/day-two-6001

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http://files.posterous.com/user_profile_pics/18429/DSC_0013.JPG http://posterous.com/users/10Aq6qE3aw1 Vikram Vikram
Tue, 28 Oct 2008 15:49:58 -0700 Day one http://vikram.posterous.com/day-one-6002 http://vikram.posterous.com/day-one-6002 Here are a few pictures from the first day of my trip to India for my sister's wedding. We just had family around all day.
It also happens to be Diwali: hence the fireworks.

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http://files.posterous.com/user_profile_pics/18429/DSC_0013.JPG http://posterous.com/users/10Aq6qE3aw1 Vikram Vikram