Moving Day in Japan

This week is going to be tough. After more than four years living and working in Tokyo, I am moving back to the U.S., at least for a little while.

My friends and colleagues are already being way too kind. (That happens a lot here.) I'm going to be crying all week. :-(

I'll probably have much more to write in the next few days.

Chase: The Dysfunctional Bank?

Chase recently offered an attractive promotion for 100,000 British Airways miles when signing up for one of their credit cards, so I did. Whereupon Chase decided to knock down my credit limit on my existing Chase credit card, and they didn't try particularly hard to reach me to ask what I thought.

Fortunately I have excellent credit, so I was not thrilled, but perhaps I can understand why banks are a little skittish these days in not extending more credit, even to their best customers. However, I rang up Chase to ask them to cancel the previous card and to set a single, more reasonable credit limit on the new card. What a surprise: Chase can't (won't) do that. (The agent muttered something about how a new card cannot get the previous limit. Which makes no sense of course, since I'm still the same person who pays his bills.) I was also told that if I cancel my first credit card then that would reduce my credit score. I think I'll take that risk, Chase.

In contrast, I am very happy with my Charles Schwab Visa Card which is administered through FIA Card Services, formerly part of MBNA and now part of Bank of America. I think Chase is going to lose this customer.

First Christmas in Tokyo

I'm approaching the end of my fourth year living in Tokyo. Time flies. But it looks like the first year I will spend Christmas in Japan instead of the U.S.

December 25th is just another ordinary work day in Japan, and I think I'll be going to the office just for the sheer comedy of it. However, I'll probably host a small Christmas party that evening.

It might be my last Christmas in Tokyo. More on that topic when I know more.

Betting on Premature Deaths

Wall Street has figured out yet another way to speculate on a financial instrument, this time on life insurance:

After the mortgage business imploded last year, Wall Street investment banks began searching for another big idea to make money. They think they may have found one.

The bankers plan to buy “life settlements,” life insurance policies that ill and elderly people sell for cash — $400,000 for a $1 million policy, say, depending on the life expectancy of the insured person. Then they plan to “securitize” these policies, in Wall Street jargon, by packaging hundreds or thousands together into bonds. They will then resell those bonds to investors, like big pension funds, who will receive the payouts when people with the insurance die.

The earlier the policyholder dies, the bigger the return — though if people live longer than expected, investors could get poor returns or even lose money.

I have no problem with this idea on one condition: only life insurance policies covering Wall Street financiers would be eligible for such trading.

Ted Kennedy and Succession

Senator Ted Kennedy has died. His death is a huge loss to American governance and public welfare. He will be sorely missed.

Shortly before his death, Senator Kennedy wrote a letter to the principals in Massachusetts state government, including the governor, urging them to pass a law permitting the governor to appoint a temporary successor who would serve until a special election. Kennedy proposed that the temporary senator could not stand in the special election.

The great senator's last wish is still a great idea. The Massachusetts legislature should act on it. However, I would propose one very slight modification which would apply to future untimely deaths: elected senators (and for that matter representatives) should have the power to name a temporary successor themselves. Only if they fail to name a temporary successor, or if the temporary successor cannot (or will not) serve, should the state's governor appoint the successor. After all, we voters elect our representatives, investing in them the responsibility for making important decisions on all types of legislation. So it makes sense that the senator or representative himself/herself should have the first opportunity to name a temporary successor. He/she is in the best position to select an individual who would carry on the same legacy, consistent with the wishes of the voters in the most recent election, until voters get another opportunity to express their views. The governor is a different office, and perhaps a member of a different party, with more distant democratic authority to fill such a vacancy.

So, both to honor Senator Kennedy's legacy and as a matter of good public policy, let's start with Massachusetts and get a temporary successor law passed right away. The law should permit each senator or representative to name their own temporary successor. If for some reason this particular temporary successor is not named or cannot serve, then the state's governor names the temporary successor. In either case the temporary successor cannot stand for election, and a special election is held within a reasonable period of time. (Within five months is a reasonable period of time.)

Touchscreen Automatic Sushi

Recently I enjoyed dining at a sushi restaurant (すしや) in or near Funabashi (Tokyo area). It is an amazing place. Each table has a touchscreen showing the current menu items. If something is out of stock, then it automatically disappears from the screen. The screen keeps a running yen total, so you can spend exactly what your budget allows. You can also see which orders have already been filled and which the kitchen is still preparing.

The kitchen receives all the orders electronically, and then the staff prepare your sushi. When ready, they put your sushi on a special tray which carries an electronic tag matching your table number. (There's a supply of numbered tags near the kitchen's dispatching station.) The dispatcher places the tray on the conveyor belt, and the computerized conveyor belt automatically carries your sushi order to your table. There are well-timed paddles that push your orders onto your table. The only items that require waitress delivery, perhaps for legal or safety reasons, are the liquids, especially the alcoholic ones. (Non-sushi side dishes, desserts, and fruit enjoy conveyor delivery.) As with other sushi restaurants, self-service water and tea are available at your table. But unlike other kaiten (conveyor) sushi places, where the sushi ages on the line, this advanced conveyor sushi restaurant prepares everything to order. The quality is much better as a result.

Here are a couple links with more information on this uniquely Japanese sushi palace:

http://juventus.livedoor.biz/archives/51135407.html
http://www.yamato-f.com/yamadenmaru.html

It's the Card, Stupid

Ezra Klein cites a Boston Globe editorial about health insurance coverage in Massachusetts, and he makes an interesting point that if coverage comes first, cost control will naturally follow.

To extend that thought, I sure hope Team Obama is ready to mail every American a new, standardized, universal health insurance card quickly, very soon after they can get health care legislation in place. It's an important way to demonstrate that every American is getting a tangible benefit. Yes, there will be a few nutjobs who publicly destroy their cards, but they'd only reinforce the point, finally, that all Americans should receive reasonable health coverage.

I fear the White House and reformers in Congress haven't started getting the cards ready.

Great Haircut Deal in Tokyo

I stopped by "Hair Shop Japan" in Funabashi this morning. They offer full service for a mere 1900 yen. Full service means a haircut, shampoo (after the haircut, which is the way it should be), and full shave. Unfortunately they don't use the straight razor except around the ears and in back. The remainder of the shave is with a safety razor, and of course that's not nearly as good. However, I think for an extra charge they'll use the straight razor all around.

Recommended.

Pondering Suicide? Don't Block Traffic in China

Speaking of China, the AP reports that Chen Fuchao perched himself on the edge of a bridge in southern China, contemplating suicide and bringing traffic to halt for about five hours. A passer-by, Lai Jiansheng, walked up to the man, shook his hand, then pushed him off the ledge, saluting after he fell.

Lai said he was fed up with Chen. "I pushed him off because jumpers like Chen are very selfish. Their action violates a lot of public interest. They do not really dare to kill themselves. Instead, they just want to raise the relevant government authorities' attention to their appeals."

Chen fell onto an air cushion positioned by police and survived, suffering spine and elbow injuries. Lai was arrested.

Back from China

I just spent about 4 days in China, in Hangzhou specifically. It still amazes me how common China's national bird, the construction crane, is. And how many McMansions there are.