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Old 2013-05-14, 02:28   Link #10161
SaintessHeart
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Join Date: Nov 2007
Age: 25
4 Things Rich People Should Stop Saying

Quote:
I have nothing against rich people. Hell, I’m hoping to become rich too. And if you ask around, some people would place me in…would place me in the “not poor” category, let’s leave it at that. But that being said, I want to point out that there are some seriously annoying rich people in this country. Not because they have money, bu because they like to say the following crap. If you’re one of them, please stop it:

1. If You’re Not Rich, It’s Your Own Fault

Ah, the meritocracy argument. The belief that effort always correlates to success.

This belief conveniently ignores context. See, certain professions pay better at different times and places. If this were the 1940′s, for example, my pay as a writer would kick seven shades of faeces out of a movie director. And if we were in the Middle Ages, we’d probably point at doctors and say “That’s what happens when you don’t study hard“.

Now, let’s look at 21st century Singapore: No matter how much effort a mechanic, cleaner, or childcare teacher puts in, that person will not earn more than an investment banker.

That isn’t necessarily because investment bankers work harder, or somehow contribute more to society (in fact, the closer to manual labour a job is, the more likely it is to directly benefit society). It’s just that the current economy makes banking a more profitable trade.

If we can save the company $5 million, we might get an extra sandwich at lunch.

The investment bankers, like the app developers who work five hours a week, happened to be in the right place at the right time. They’re rich partly due to circumstance, and not because they’re inherently superior beings launched from Krypton.

I’m not suggesting they didn’t do any work to get there. Or that they don’t have talent. I’m just saying they need to acknowledge it’s not just will, but also circumstance (including educational opportunities) that gave them their success. And maybe following us on Facebook, because we talk about career upgrading all the time.

And that sometimes, people can’t succeed because they’re in the wrong place or time. Not because they don’t try as hard.


2. Mocking the Amount of Money Involved in Scandals

When a scandal hits the front page, there’s a lot of public indignation. Maybe someone seriously overpaid for bicycles, or the director of a charity fund decides “Hey, you know what would help impoverished kidney patients? A golden tap in my office.”

When that happens, we’re all shaken. It ruins our trust in charities, government bodies, etc. But then a small percentage of our population (typically the rich) will say something stupid. Stuff like:

“Come on, $X dollars only? That sort of money is nothing! Why are you people getting worked up over what is, to me, a tiny amount?”

It gets even worse when backed by arguments like:

-$2,000+ is an okay price for a bicycle. I mean, who can’t afford to pay that money for a bit of convenience?
-Compared to how much swindler X made for charity / the government / a company, the money he took is no big deal

Those arguments are (1) a slap in the face, and (2) missing the point.

A few thousand, or hundred thousand, is not a small amount of money. It might seem that way, if you have a District 9 condo worth a Saudi Prince’s harem.

But for many Singaporeans, an amount like $57,000 could pay their HDB loan for years. When rich people roll their eyes at the “trivial” amounts, it’s no less than a wealthy, fat tourist waving a a drumstick at hungry villagers. We’re happy you’re rich and all, but you don’t have to act like a contemptuous dic…person.

Second, we’re not outraged at the amount of money involved. We get that, when someone commits a commercial crime, it isn’t so he can buy a $2 Slurpee. We’re outraged at the betrayal of trust.

It’s not about whether $10,000 or $10 was wrongfully taken. The point is that it was wrongfully taken. If your 10 year old son steals $20 out your wallet, how would you feel? Betrayed and alarmed? Or would you laugh and say “Hell, it’s just $20?”

That’s what we’re pissed about. And that’s why rich people need to lay off the “He may have stolen $X, but he made $Y” argument. It misses the point.


3. Dispensing Advice That Only Other Rich People Can Use

Rich people who were born poor will never do this. But Singapore is home to the occasional heir, who never had to earn his money. And when that person gives advice, I cringe.

Mostly, the advice sounds like this:

Poor Man: I don’t even have a bowl of Yong Tau Foo, I’m starving man.

Rich Brat: Then why don’t you drink some Bird’s Nest? It’s very filling.

Other examples are:

Suggesting your relieve stress by taking a one month holiday, and not understanding why you can’t do this
Wondering why you won’t go on an all salmon diet and sign up for a $3,000 Yoga class, when it’s for your own health
Asking why you don’t just “take a cab there”. Every. Damn. Time.
Suggesting you cure your poverty by investing in property or gold. Because he thinks someone who makes $1,200 a month is in a position to do this.

Look, if you inherited money, congratulations. We’re all happy for you. But if you’re going to walk around dispensing advice, may I suggest you listen first?

Perhaps if you spent less time talking, and more time understanding the issues of the less fortunate, you’d be able to make a real contribution.


4. Saying That Money Trickles Down, Even if You Won’t Invest in Us

Do you invest in local start-ups? Contribute a lot to charity? If you do, you sort of have a right to use the “trickle down” argument.

But you need to realize some rich people are just here to stash money, or for the tax breaks. Or to buy our property. And that money doesn’t “trickle down”. It sloshes around in their bank account, never circulating into our society.

Saying it “trickles down” is like putting a bag of plasma in my hand, and telling me if I hold it long enough I’ll have a full blood transfusion.

So if you’re one of those rich people who walk around saying: “Singaporeans suck, they have no creativity, I’ll never invest here, blah blah blah“, then stop using terms like “trickle down” or “a rising tide lifts all boats”. You do nothing for us. We’re doing you the service, by giving you a low-tax residence that you contribute diddly squat to.

Now back in the 70′s and 80′s, people didn’t put their money here because we’re a tax haven. Or because it’s easy to import cheap labour here. They came here to set up businesses and invest in our workforce, because we had the best and brightest.

They believed in us. Hell, we believed in ourselves. And as a consequence, we got richer together. Now that’s a trickle down effect. If we’re lucky, we’ll recapture that spirit.

But in the meantime rich guy, unless you actually invest in us, lay off the trickle down arguments.
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When three puppygirls named after pastries are on top of each other, it is called Eclair a'la menthe et Biscotti aux fraises avec beaucoup de Ricotta sur le dessus.
Most of all, you have to be disciplined and you have to save, even if you hate our current financial system. Because if you don't save, then you're guaranteed to end up with nothing.
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Old 2013-05-14, 06:43   Link #10162
ganbaru
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Calif. man who said he fled zombies pleads guilty
http://hosted.ap.org/dynamic/stories...05-13-22-49-48

Wisconsin boy gets handwritten response from Biden
http://hosted.ap.org/dynamic/stories...05-14-07-25-29
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Old 2013-05-14, 08:12   Link #10163
SaintessHeart
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Age: 25
U.S. hedge fund calls for Sony Entertainment spin-off

Quote:
(Reuters) - Billionaire hedge fund investor Daniel Loeb on Tuesday called on Sony Corp to spin off its lucrative entertainment arm, setting the stage for a clash between his activist Wall Street fund and management at the Japanese electronics maker.

Loeb said his Third Point hedge fund had accumulated a little more than 6 percent of Sony's shares - a stake worth $1.1 billion - making it the largest stakeholder in the inventor of the Walkman portable music player and Trinitron TV.

In a letter Loeb personally delivered to CEO Kazuo Hirai at Sony's headquarters, the fund manager said Third Point was willing to put up another 200 billion yen ($1.97 billion) to support an initial public offering of up to a fifth of the entertainment arm, which includes one of Hollywood's top film studios and a leading music label.

Loeb, 51, is one of the best known figures in the secretive hedge fund industry with a record of clashing with corporate executives over strategy, including engineering a successful boardroom shake-up at Yahoo Inc last year.

"HIDDEN GEM"

In his letter, Loeb endorsed Hirai's attempts to revive Sony, but said the problems of the company's electronics business distracted from the value of U.S.-based Sony Entertainment, an asset he called a "hidden gem".

Loeb said the proposed spin-off of a unit that is home to artists such as Beyonce and Adele and produced movie franchises like "Iron Man" and "Spider-Man" could add another 60 percent to Sony's stock price.

While Sony has sold off real estate and other assets to cover losses on consumer electronics, Hirai sees the entertainment business as core to the company's long-held vision of marrying content and hardware.

"The entertainment businesses are important contributors to Sony's growth and are not for sale," Sony said in response to Loeb's proposal. "We look forward to continuing constructive dialogue with our shareholders as we pursue our strategy."

Hirai, a 52-year old Sony veteran who started his career in the music business, is due to give an update on his strategy for the company at a briefing in Tokyo on May 22.

JAPAN CHALLENGE

Sony shares have already doubled this year amid a rally in Japanese shares as foreign investors bet economic policies of Prime Minister Shinzo Abe will pull the economy out of a two-decade slump.

Loeb cited the hopes for economic reforms raised by Abe in making his case for change at Sony.

"Sony stands at the crossroads of compelling corporate opportunity and massive Japanese economic reform," Loeb wrote in the letter, which was made available to media. Corporate leaders like Hirai, he added, "can spearhead this important growth."

Third Point's flagship fund posted a return of 10.5 percent for investors in January-April, a time when the rest of the hedge fund industry lagged with an average return of just under 5 percent. The fund was helped by its positions in Yahoo, a bet on Greek government bonds and its holdings of Japanese shares.

After taking a stake in Yahoo, Loeb agitated successfully to oust the CEO and members of the Internet company's board after charging that directors were living in "an illogical Alice-in-Wonderland world."

But Loeb does not have a well-known track record in Japan where activist investors have had little success, rebuffed by corporate boards packed with insiders and creditor banks that tend to side with management in maintaining the status quo.

Investors and analysts have argued for years that Sony could be worth more in a break up because of a decade-long slump in its electronics business as it ceded ground to rivals such as Apple Inc in portable music and Samsung Electronics in flat panel TVs.

RIGHTS OFFERING

Rather than a traditional IPO, Loeb has proposed selling a 15-20 percent stake in Sony Entertainment through a rights offering to existing Sony shareholders. The move would allow the parent company to shift some debt off its balance sheet.

Taking the unit public would provide incentives for its executives to run the operations more efficiently. Raising its profit margins to the industry average could in theory add another 625 billion yen in market value, Loeb said.

Loeb cited Sony Financial, the profitable insurance arm that was spun-off but is still majority-owned by Sony, as an example of how the move could be beneficial for the group.

Most importantly, the cash generated could be used to help streamline the electronics business, which suffers from a lack of focus even after Hirai took the helm from former CEO Howard Stringer in 2012, Loeb said.

Hirai's strategy to revive Sony in consumer electronics is to focus on cameras, PlayStation game consoles and smartphones.

Loeb's proposal could trigger buying of Sony's stock, said Tetsuro Ii, chief executive of Tokyo-based fund manager Commons Asset Management. Sony closed Tuesday up 1.2 percent at 1,877 yen, valuing the entire company at $19 billion.

"Be it Sony or Panasonic, at the end of the day these electronics companies have to do something. It's not a bad thing that this option exists," Ii said.
Sharp to seek Samsung edge for survival as Apple sales lose steam

Quote:
(Reuters) - Japanese display maker Sharp Corp, a supplier to Apple Inc, will aim to boost sales to the iPhone maker's chief rival Samsung Electronics Co under a three-year rehabilitation roadmap to secure its survival.

The business plan, due for release on Tuesday, will lean further on banks that last year saved it from failure, as a 200 billion yen ($2 billion) convertible bond will fall due in September, three sources familiar with the plan told Reuters late last week.

Sharp will also release full-year earnings figures, including forecasts for the year to next March 31 when operating profit is expected to reach 52.9 billion yen, according to the average estimate of 13 analysts surveyed by Thomson Reuters I/B/E/S.

The company's plan will target annual operating profit of 150 billion yen by the year to March 2016, helped by expanded screen shipments to its Korean partner, the sources said. Sharp posted annual operating profit in the 100 billion to 200 billion yen range throughout the five years to March 2008, before its TV and display businesses were battered by overcapacity, a strong yen, and stiff competition from Korean and Taiwanese rivals.

Sharp was rescued last October by 360 billion yen in emergency loans from Mizuho Financial Group, Mitsubishi Financial Group and other lenders. To secure the bailout, it had to mortgage offices and factories in Japan, including one that makes screens for Apple's iPad and its latest iPhone.

The company also agreed to trim its workforce by 10,000 people and seek buyers for overseas assets including TV assembly plants in China, Malaysia and Mexico.

Sharp will borrow a further 150 billion yen this year from its banks to help meet its near-term debt obligations, and will give the lenders a number of senior management positions, the sources said on condition that they not be identified.

SOFTENING GROWTH

A key challenge for Sharp's recovery, however, is keeping its factories busy enough to earn profits that will satisfy its creditors despite slowing growth in its business making screens for Apple's iPads and iPhones.

Analysts project annual profit growth at Apple to average less than 5 percent over the next decade, compared with an average of 60 percent over the past five years.

In January, Sharp had to curtail production of 9.7-inch iPad screens, hurting output levels and threatening its recovery in profitability. The Japanese company is preparing to begin large-scale production next month of screens for Apple's next iPhone model, the sources said.

Sharp's earnings for the year ended on March 31 are expected to include a worse-than-forecast 500 billion yen net loss, in part because it had to write off panel plant assets after lower-than-anticipated production levels left it with excess capacity, sources familiar with the situation told Reuters early this month.

In a March agreement with Samsung Electronics that provided cash-strapped Sharp 10.4 billion yen in capital in return for a 3 percent stake, Japan's leading liquid crystal display fabricator also promised to supply small display screens to the world's biggest maker of mobile phones.

An earlier plan for Hon Hai Precision Industry, a Taiwanese company that builds many of Apple's gadgets, to buy 9.9 percent of Sharp unravelled as the Japanese company balked at relinquishing any managerial control to its prospective partner.

Although Hon Hai and Sharp have said they remain in contact, cooperation for now is limited to their shared ownership of the world's most advanced LCD plant in Sakai, western Japan, and a plan to jointly sell smartphones in China.

Sharp in December also sought help from mobile chipmaker Qualcomm Inc, agreeing to sell an equity stake for $120 million. The two companies plan to develop new screens based on Sharp's power-saving IGZO panel technology.

Sharp's shares have staged a turnaround since sinking to their lowest in more than three decades last October while it struggled with debt and sought a bailout.

Since mid-November, its share price has more than tripled, compared with a 70 percent rise in the benchmark Nikkei average. It surged 12.4 percent on Monday to close at 506 yen, its highest close in more than a year.


The company will release its latest earnings results and forecasts for the current business year at 2:00 a.m. EDT. Its president, Takashi Okuda, will hold a news briefing at 4:00 a.m. EDT to present the three-year business plan.
Is it just me, or are Japanese big businesses are becoming as namby-pamby as the general stereotype of males in the country?
__________________

When three puppygirls named after pastries are on top of each other, it is called Eclair a'la menthe et Biscotti aux fraises avec beaucoup de Ricotta sur le dessus.
Most of all, you have to be disciplined and you have to save, even if you hate our current financial system. Because if you don't save, then you're guaranteed to end up with nothing.
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Old 2013-05-14, 09:49   Link #10164
RRW
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Quote:
Originally Posted by SaintessHeart View Post
Is it just me, or are Japanese big businesses are becoming as namby-pamby as the general stereotype of males in the country?
nah It just the case turning a bigger ship take long.
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Old 2013-05-14, 12:10   Link #10165
Bri
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http://www.telegraph.co.uk/science/s...-suggests.html

Evidence for idiocracy?
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Old 2013-05-14, 13:52   Link #10166
AnimeFan188
Senior Member
 
Join Date: Jan 2008
Mayor says Japan's wartime sex slaves were necessary:

"Osaka's outspoken mayor has said the system in which Asian women were
forced to become wartime prostitutes before and during World War II was
necessary to "maintain discipline" in the Japanese military."

See:

http://news.msn.com/world/mayor-says...were-necessary



Also:

Japan pulls back on denials of WWII sex slavery:

"A new document has surfaced detailing testimony from a Japanese solider who
admitted to abducting Chinese women to use as military sex slaves."

See:

http://news.msn.com/world/japan-pull...ii-sex-slavery
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Old 2013-05-14, 14:15   Link #10167
Xellos-_^
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Quote:
Originally Posted by AnimeFan188 View Post
Mayor says Japan's wartime sex slaves were necessary:

"Osaka's outspoken mayor has said the system in which Asian women were
forced to become wartime prostitutes before and during World War II was
necessary to "maintain discipline" in the Japanese military."

See:

http://news.msn.com/world/mayor-says...were-necessary
already being discuss in the Normal News Thread
Quote:
Also:

Japan pulls back on denials of WWII sex slavery:

"A new document has surfaced detailing testimony from a Japanese solider who
admitted to abducting Chinese women to use as military sex slaves."

See:

http://news.msn.com/world/japan-pull...ii-sex-slavery
how is either this story "silly"?
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Old 2013-05-14, 14:52   Link #10168
AnimeFan188
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Quote:
Originally Posted by Xellos-_^ View Post
already being discuss in the Normal News Thread
how is either this story "silly"?
Not silly, but certainly odd how some Japanese politicians have gone from denial
to apologist-mode without skipping a beat.
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Old 2013-05-14, 15:29   Link #10169
Seitsuki
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Politicians doing that is odd?

Where've you been?
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Old 2013-05-14, 15:45   Link #10170
AnimeFan188
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Quote:
Originally Posted by Seitsuki View Post
Politicians doing that is odd?

Where've you been?
I was expecting them to double-down on the denial.

"We didn't do such things during the war! It's all a *conspiracy* to defame us!"
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Old 2013-05-14, 20:58   Link #10171
ganbaru
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Join Date: Dec 2007
Location: Betweem wisdom and insanity
UN: Eat more insects; good for you, good for world
http://hosted.ap.org/dynamic/stories...05-13-11-12-39
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Old 2013-05-15, 00:47   Link #10172
TinyRedLeaf
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Join Date: Apr 2006
Location: Singapore
Age: 39
Hong Kong cries fowl over flattened rubber duck
Quote:
Hong Kong (May 15, Wed): The giant inflatable rubber duck which has attracted tens of thousands of visitors since it sailed into Hong Kong two weeks ago was reduced to a sad deflated disc today in the city's harbour.

Duck mania has gripped Hong Kong since its arrival, with locals and tourists flocking to catch a glimpse of the 16.5m-tall (54-feet) artwork, conceived by Dutch artist Florentijn Hofman.

But those who made the trip to Victoria Harbour to see it this morning were left disappointed as the wind had been firmly taken out of the duck's sails, leaving it looking like a floating fried egg.

Organisers said that the duck had been deflated last evening as part of scheduled maintenance work and that it would be towed to a shipyard today for thorough checking.

A spokesman for the organisers said there are no details yet about when the duck would be re-inflated.

AFP
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Old 2013-05-15, 06:38   Link #10173
ganbaru
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Join Date: Dec 2007
Location: Betweem wisdom and insanity
Fighting eagles crash land on Minn. airport runway
http://hosted.ap.org/dynamic/stories...05-14-14-39-16

Geneva auction sells nearly $5M of actress' jewels
http://bigstory.ap.org/article/actre...ction-3m-1-gem
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Old 2013-05-15, 06:48   Link #10174
SaintessHeart
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Quote:
Originally Posted by TinyRedLeaf View Post
Someone should set up a roast-duck-kebab pushcart nearby. Sure to make alot of money.
__________________

When three puppygirls named after pastries are on top of each other, it is called Eclair a'la menthe et Biscotti aux fraises avec beaucoup de Ricotta sur le dessus.
Most of all, you have to be disciplined and you have to save, even if you hate our current financial system. Because if you don't save, then you're guaranteed to end up with nothing.
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Old 2013-05-16, 00:25   Link #10175
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Two bald eagles in air battle crash-land at airport

Quote:
There was a crash landing Sunday at the Duluth International Airport, but it didn’t involve airplanes. Rather, it was two bald eagles, which were fighting in midair when they locked talons. In a rare spectacle of nature, they were unable to disengage in time before crashing to the runway.

“Apparently, mature eagles will sometimes fight over territories,” Randy Hanzal, a Minnesota conservation officer, told GrindTV in an email. “They will do battle in the air, crashing into each other and grabbing an intruding eagle with their talons.
http://www.grindtv.com/outdoor/natur...nd-at-airport/
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Old 2013-05-16, 04:44   Link #10176
JokerD
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In the Philippines, an election decided by the flip of a coin

Quote:
(CNN) -- In the hi-tech era of electronic voting, election authorities in the Philippines settled a dead heat between two candidates for mayor in a decidedly old-school way -- by flipping a coin.

When all the ballots were counted after Monday's election, the two men running for mayor in the town of San Teodoro -- Marvic Feraren and Boyet Py -- both ended up with 3,236 votes each, CNN affiliate ABS-CBN reported Wednesday.

To break the impasse, a decision was taken to use a coin, Reny Pagilagan, the town's acting election officer, told the local broadcaster.

The Philippine Commission on Elections permits coin flips as a way of deciding tied votes, according to ABS-CBN.

So, the two rivals faced off inside a ring of desks in a bare-walled room, taking it in turns to flick the coin to the ground.

At the end of the contest, Feraren, the son of a previous mayor, was declared the winner.

The outcome was received without negative reaction in San Teodoro, which is in the province of Oriental Mindoro, ABS-CBN reported.
Erm, coin flip, ok...
Although I think it was more amazing that they both got the same amount of votes...
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Old 2013-05-17, 15:35   Link #10177
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YouTube
Sorry; dynamic content not loaded. Reload?
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Old 2013-05-17, 20:17   Link #10178
ganbaru
books-eater youkai
 
 
Join Date: Dec 2007
Location: Betweem wisdom and insanity
Birth of anteater has Connecticut zoo staff puzzled
http://hosted.ap.org/dynamic/stories...05-17-08-47-14
Quote:
GREENWICH, Conn. (AP) -- An anteater has given birth at a Connecticut conservation center, prompting officials there to wonder how the mother conceived.

Officials at the LEO Zoological Conservation Center tell the Greenwich Time ( http://bit.ly/14wsum4 ) they had removed the only male anteater from the enclosure in August, long before the six-month gestation period for baby Archie would have begun.
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Old 2013-05-18, 03:28   Link #10179
Anh_Minh
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Anteater Jesus?
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Old 2013-05-18, 03:29   Link #10180
NoemiChan
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Quote:
Originally Posted by JokerD View Post
Erm, coin flip, ok...
Although I think it was more amazing that they both got the same amount of votes...
The fact is it's ridiculously LEGAL.Win 3 out of 5 and you win.
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