Well, without Essemblix, drugs are built by a slow and expensive process of trial and error; slow and expensive enough that the design-to-product process of even one successful drug typically takes on the order of $800 million dollars and 15 years. Most of that money, and most of that time, isn’t spent on clinical trials and FDA approval either — most is spent simply on design and synthesis of new, testable drugs. But with Essemblix, design and synthesis is no longer a time and money sink; Essemblix drugs, says the National Science Foundation, could be conceived and produced “in weeks, or even days.” Best of all, the Essemblix has already been used to produce drugs. P24RDN, a brain-cancer medication produced by Parabon, has been shown “safe and effective” in preclinical trials. PJ-01 , a drug made by both Parabon and Janssen Pharmaceuticals, is currently in preclinical trials for the treatment of prostate cancer. Oculus Rift Virtual Reality Headset “Virtual reality” had a moment in the mid-90s, what with Total Recall and Virtual Boy. But back in the day, the gaming technology wasnt quite up to par. Mid-90s VR displays were plagued by weight, menaced by low resolution, doomed to make gamers nauseous — and eventually, all of them died debt reduction with a whimper. But now VR is back, and this time it looks like its going to work. The Oculus Rift, made by ModRetro founder Palmer Luckey, boasts a huge field of vision, resolution approaching Retina-level, and head-tracking sans latency and sans nausea. Better yet, the Rift has a reasonable price tag ($300) and scads of corporate support — the creators of DOOM have announced that theyre making their fourth game Rift-compatible (as well as their re-release of DOOM 3) and a Rift-compatible version of Minecraft is in the works. With a $2 million war chest from their Kickstarter campaign and game developers going gaga over the tech, could the Oculus Rift be the biggest thing since Kinect? Mind-Controlled Cybernetic Limbs Disabled men and women may gain cyborg limbs if researchers at UC Irvine have their way. A team of engineers at the university have developed a pair of mind-controlled robotic legs that walk in response to a person thinking I want to walk now. The legs are currently in prototype, and have thus far only been tested on able-bodied people. But the UC Irvine team plans to start tests on the disabled soon. Along with holding the potential of giving the immobile mobility, these legs are just one of several brain-reading technologies invented this year. Besides the mind-controlled legs from UC Irvine, weve seen the genesis of extremely popular mind-controlled robotic cat ears and (perhaps less trivially) the crazy mind-reading binoculars from DARPA that spot the enemies your conscious mind doesnt even know youve seen. Form 1 3D Printer 3D printers found their way into the news in 2012, and it would be a shame not to put one on this list. As tech trends go, this ones been a long time coming — for the past year or so, weve heard people oooh and aaah over devices that can print jewelry, chairs, human jaw bones, organic chemicals, parts for jet engines and now, guns. But why the Formlabs’ Form 1 of all 3D printers? Its a big sell because it brings ultra-precise laser-based printing, previously the hallmark of only the best 3D printers on the market, down to a consumer price point. Suddenly, top-of-the-line 3D printing can be done at home. Grasshopper Reusable Rocket Weve been able to spend humans to space since the 1960s, but its never been cheap. Every rocket weve made so far has been at least partially disposable — which means every rocket weve ever built leaves pieces in space and has to be partially rebuilt every time it launches. You may have guessed, this is expensive. The holy grail of rocketry has been a completely reusable rocket, but its been the stuff of fantasy — until now. Enter Elon Musk, the billionaire PayPal founder who very badly wants to go to Mars. After many years of work, his SpaceX flight company has built the first reusable rocket, which took its first test flight in September 2012. The rocket, known as the Grasshopper, is as tall as a 10-story building and has thus far flown twice, once to the height of 6 feet and once to the height of 17.7 feet. Seems like small potatoes maybe, but both test flights landed safely, the rocket was reused, and the flights further proved that the Grasshopper is capable of vertical take-off and landing — a necessity when travelling to planets without runways.
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Nowhere to Hide in Worst Bond Losses Since 2008: Credit Markets
The three major bureaus are: Equifax , Experian , and TransUnion . 2. Im only responsible for half of a joint debt: Just because you get a loan with another person doesnt mean youre responsible for only half of it. Both you and the co-borrower are fully responsible for the debt. So if the cosigner is your spouse and you end up going separate ways, the lender will hold you and your spouse individually responsible for the whole debt. Thus, if an agreement is reached, dont just tell it to the judge. Let the credit issuer know as well. The same applies in most other situations in which you cosign for a loan, like auto and student loans. 3. My high income and credit score net the best credit card deals. If you are an affluent customer with an excellent credit history, chances are you get tons of credit card offers that come with rewards. But credit cards with these kinds of reward programs often come with a catch: Interest rates are generally higher. And in many cases, these higher-end cards have annual fees. The cards with the lower rates lack the attractive rewards, but are also less likely to have annual fees. So look beyond that prequalified offer that will get you thousands of miles and check what the interest rate and annual fee are before you apply. The rewards, which include airline miles, hotel stays, and cash rebates , may be worth the fee, which is usually waived the first year. 4. All mortgage and home equity interest is tax deductible. This is true for most middle-income earners, but the federal government has a $1 million cap on mortgage interest. There are also limits on interest for home equity loans. The cap for home equity loans is $100,000. You can take out more than $100,000 under a home equity loan and still deduct the entire interest if the money goes for home improvement, like adding a wing to your house. A tax consultant can fill you in on the details. 5. Credit cards from retailers are often a good deal.
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5 credit score secrets of the young and FICO-savvy
4. They kept their balances low — and credit limits high. Nguyen says he deliberately spread his balances out and kept them low so that he didn’t inadvertently hurt his credit score by increasing his credit utilization rate . He never runs up a balance more than 30 percent to 40 percent of the total amount of his credit limit. Maintaining a low utilization rate is an important component to a high credit score. Nguyen says he also asked for credit limit increases in order to help boost his score. “Every nine months, I requested to increase the limit on my credit card,” he says. “I would ask them, ‘Would it be possible to increase it without running a credit check?’ and if they were able to approve it, I would take that amount.” Nguyen’s strategy allowed him to gradually increase his credit limit — and improve his credit utilization – without adding unnecessary credit history inquiries to his credit report. Wetzel followed a similar strategy after he and his wife realized that canceling another card would affect their credit utilization. “We asked for a credit line increase with [our] other credit card in order to compensate for the canceled card,” says Wetzel. Blogger Schrage says that asking for a credit limit increase is easy and, if approved, is a sure way to boost your score “because it will effectively reduce the amount of your credit limit that you’re using.” “Call up the credit card company and just say, ‘Hey, I’d like a credit limit increase,'” says Schrage. However, he adds, “You don’t want to request too much,” because then you may not be approved. 5. They monitored their credit files. Mike Canahuati, 30, of Houston, was shocked when he tried to rent an apartment in college and was turned down because of poor credit. When he looked into why he had a low score, he found out that his mother’s poor credit history had negatively affected his. “My mom, before she passed away, went on a little spending spree — and I didn’t know this, but I was an authorized user on the account. She didn’t think that it would affect me or my sister’s credit.” But it did. “I wrote a letter to all of the major credit reporting agencies asking them to please remove me,” says Canahuati. “That was not me, that was my mother’s.” Canahuati successfully had his mother’s cards cleared from his credit history. Eventually, Canahuati’s credit score slowly “started to rise to a more accurate figure” and is now high enough to qualify for exceptionally low rates on two mortgages and a car loan. “Sometimes you don’t actually know what’s reported to the bureaus” until you see your credit report, says accountant Tiffany Powell of Surprise, Ariz. Powell had a similar shock recently. “My company card ended up on my credit report and the entire company’s credit ended up on my credit report. I know for sure that was paid late every month. I had to call all three credit bureaus and American Express to get it taken away from my credit.” Powell recommends young adults check their credit report regularly for any errors or discrepancies.
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Five credit myths that can cost you money
Photographer: Matthew Lloyd/Bloomberg Bloomberg News Nowhere to Hide in Worst Bond Losses Since 2008: Credit Markets By Victoria Stilwell Company Lookup Go Investors are finding no shelter from the worst corporate-bond losses in almost five years as debt plunges for the most creditworthy to the riskiest borrowers in every industry worldwide. Company debentures erased 2.2 percent the last three months, the worst quarterly decline since a 5.2 percent plunge in the period ended September 2008, when the collapse of Lehman Brothers Holdings Inc. ignited the worst credit crisis since the Great Depression, Bank of America Merrill Lynch index data show. All 16 industries in the index lost during the period, from a 0.7 percent decline for the debt of automakers to a 3.5 percent drop in energy-company bonds. Speculation that Federal Reserve Chairman Ben S. Bernanke may soon lead a pullback from unprecedented stimulus efforts fueled a 1 percentage point jump in 10-year Treasury yields the past two months. That sparked withdrawals from bond funds and a slowdown in corporate debt issuance from a record pace. Royal Bank of Scotland Group Plc strategists in the U.S. lowered their predictions for 2013 gains last week. There has been no safe haven, said Jeroen van den Broek, head of credit strategy for ING Bank NV in Amsterdam, who recommends investors buy credit, with a preference for investment-grade debt. Were seeing a complete focus on rates and everything surrounding Bernanke. Junk Deflated Even junk-rated bonds, typically considered a buffer against rising interest rates because they offer larger relative yields over Treasuries, lost 1.5 percent in the second quarter, compared with a 2.4 percent decline for investment-grade notes. By comparison, when 10-year Treasury yields surged 1.45 percentage points during two months in 2003, speculative-grade debt fell 2 percent, less than half the 4.3 percent drop in their higher-graded, lower-yielding counterparts. High yield has been hit more than we would have expected, especially considering the losses we see in investment grade, said Putri Pascualy, the senior credit strategist at Pacific Alternative Asset Management Co. in Irvine, California, which oversees $4 billion in fixed-income investments. Its not cheap, but its approaching fair value. Global Spreads Elsewhere in credit markets, the cost of protecting corporate bonds from default in the U.S. and Europe fell to the lowest in almost two weeks. Egypts borrowing costs and credit risk climbed to records as masses poured into the nations streets demanding President Mohamed Mursi step down, prompting the military to threaten intervention. Alstom SA (ALO), the worlds third-largest power-equipment maker, sold bonds for the first time since October. The Markit CDX North American Investment Grade Index, a credit-default swaps benchmark used to hedge against losses or to speculate on creditworthiness, dropped 2.6 basis points to a mid-price of 84.5 basis points as of 12:09 p.m. in New York, poised for the lowest closing level since June 18, according to prices compiled by Bloomberg. In London, the Markit iTraxx Europe Index fell 4.5 to 114.7, the lowest since June 19. Both indexes typically decline as investor confidence improves and rise as it deteriorates. Credit swaps pay the buyer face value if a borrower fails to meet its obligations, less the value of the defaulted debt.
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