December 2004 Archive

Director’s Cuts: Three Slideshows Produced on my U

December 31st, 2004

Below is a short (2 minute) video about the arrival of my Sony U and my first impressions of it. Actually, this “video” is just a fancy slideshow that I created on my Sony U750 using Photo Story (free download from Microsoft) and pictures shot with my tiny Pentax S5i.

Below that are links to two longer slideshows that I made for my ex-wife. She is in D.C. for the holidays while I’m here in Alabama with our daughter. I sent her these slideshows as a gift and to let her see what our daughter’s been doing while down South.

Making the shows with Photo Story was amazingly easy, but getting and tweaking HTML code to embed a Windows Media Player in a web page created with Blogger has actually been a big headache. I still haven’t got it quite right.

The “embedded” media player below works fine, sometimes, for the Firefox browser, but not yet for Internet Explorer (go figure–it works with a third party product, but it doesn’t work with three Microsoft products–Windows MediaPlayer, Photo Story and Internet Explorer!).

However, anybody with Windows Media Player (which exists for the Macintosh, too) should be able to click on the three simple links I’ve put below the “embedded” player. Each of these links should then launch and play one of the slideshows in a new window.

Launch Sony U Slideshow in a separate window

Launch Personal Holiday Slideshow 1 in a separate window

Launch Personal Holiday Slideshow 2 in a separate window

The difficulty of posting video with Blogger surprised me. Posting photos to a web page built with Blogger is now phenomenally easy with free tools like Picasa and its affiliated Hello component. However, video blogging (even with just slideshows) is apparently not yet idiot proof.

December 30th, 2004


Journals on the Shelf
Posted from my Sony U

Insanely Great: Early Impressions of the Sony U

December 29th, 2004

This is the second week I’ve had my new computer, a Sony Vaio U series, designated model VGN-U750P.

I am still exploring its advantages and limitations, but thus far I adore it.

My “U” is:

1. a full-blown Windows computer;

2. outfitted with good technical specs;

3. small enough for me to carry virtually everywhere;

4. able to accept pen input;

And now that I’ve installed the Tablet PC edition of Windows XP 2005, my U is:

5. equipped with phenomenal handwriting recognition.

These features each provide special utility. Their combination in one computer raises the U to another level.

I think a U equipped with the most current version of Windows for the Tablet PC is worthy of Jobs’ “insanely great” or Gates’ “super cool” designation.

Alternative Cases for the U

December 26th, 2004

At least two companies offer handsome leather cases for the Sony Vaio U series of “ultra-portable computers” or UPCs.

One such firm is PDAir; another is Xigma. All U models have the same external form factor, so these cases fit the U50, U70, U71 and and U750P now being sold in the U.S. They come in sizes for both the standard or enhanced battery. These look like great, serious options. I’ve ordered one already. While waiting on it to arrive, I have discovered other possibilities.

The Radio Shack Sponge Bop Case.

Radio Shack markets this as a CD case, but it is suitable for U owners looking to make a strong Goofy Goober fashion statement.

PRO: Though it’s a snug fit, the U can be zipped up inside. The second compartment can accommodate the AC adapter or an extra battery. At $5, it’s extremely affordable.

CON: No room for external keyboard, zero padding & considerable danger that some toddler after just the bag will make off with your U.

Hello Kitty Backpack
Some find Sponge Bop too frenetic. A Hello Kitty motif may appeal to such sensibilities. This ample case boasts the finest vinyl craftsmanship.

PRO: Holds a U, external keyboard and AC adapter with room left over for a camera.

CON: Only available from grey market importers; warranty card in Japanese.

Info on the Sony Vaio U

December 26th, 2004

There is a Yahoo group focused on the U series. Its name refers to the U50 and U70, the initial Japan-released models, but the information is relevant to the U750P now being sold in the U.S.

Another of the best sources for U info. is the blog jkOnTheRun. He was a pioneer in getting a U to run the Tablet version of the Windows XP operating system, as chronicled here. The insight and information on his site played a significant role in my decision to buy a U.

The U and I

December 25th, 2004

I am writing this on my new computer, a Sony Vaio U750. It’s small. Really, really small.

It fires my imagination as no computer has in a long time–as no “Wintel” box ever has.

It’s a cross-breed of my PDA and my Tablet PC. Not long ago I was euphoric about those machines, but I think the U will replace both of them.

An extensive, sober assessment will require that I use it a while longer, perhaps for about a month. But my initial ardor is intense.

Going forward, some of this blog will be about my experience with this new computer, about the U and I.

On-line Shareholder Voting Regs

December 9th, 2004

In follow-up to its new investor protection regulation promulgated Tuesday, the CSRC today issued provisional guidance for on-line shareholder voting, available here in Chinese.

PRC Investor Protection Reg

December 9th, 2004

The full text of the new PRC investor protection regulation that I wrote about yesterday is now available in Chinese here.

Dow Jones’ story about it is here.

The PRC’s English-language China Daily reports on the new rules here.

As I wrote earlier when the draft was first offered for public comment, I think this is a meaningful change in PRC securities regulation. The consequences of listing in China will now be much greater. Instead of just enjoying a capital windfall, managers and dominant shareholders (who don’t usually hold listed shares) must now obtain approval from holders of listed shares–generally a minority of shareholders–before taking many fundamental corporate actions. Public shareholders have been enfranchised. This is a big deal. It is potentially the single most important regulatory change made since China began its stock markets.

The rule requires that 50% of the listed shares at a meeting approve certain fundamental transactions. There is a catch-all that requires shareholder approval when an action can have a material affect on the interests of holders of listed shares.

What types of matters will have a “material affect” and should therefore be approved by public shareholders is not defined. It will be interesting to see whether or not the PRC court system or some other body can provide meaning to this provision and if they do so in a way that bolsters investor control over listed firms. When a group of shareholders become unhappy about a corporate action that has not been submitted to public shareholders for approval, can they sue to invalidate the action?

CSRC Enacts Investor Protection

December 7th, 2004

The CSRC has enacted a new investor protection regulation, Xinhua reported late last night.

The final text of the rule should be available shortly, but it doesn’t seem to be posted anywhere yet Sina currently has a link that purports to be to the new reg, but actually it brings up the draft the CSRC posted for comment back in late September, not the final rule. The CSRC website is still devoid of reference to the new rule.

The final rule reportedly retains the right of holders of listed shares to vote as a group on certain major matters (and requires that 1/2 of public shareholders approve these matters); prohibits issuers that have not paid dividends for three years from publicly issuing new securities; provides for independent directors to be elected by cumulative voting; and urges listed firms to allow for e-voting. Additional regs on some of these specific subjects are expected.

A collection of Chinese reports on the draft reg is here.

Technology, Innovation & China

December 1st, 2004

Today I attend an on-campus event about communication and information technology in China. It was hosted by a University of Maryland outfit that has the rather grandiose name the Institute for Global Chinese Affairs (IGCA).

Professor Ernest Wilson of the University of Maryland and Professor Wang Xiangdong of the Chinese Academy of Social Sciences made a presentation.

They plan to collaborate on some research about the growth of the CIT sector in China and its implications. Today they provided a general overview of the topic and some of their research plans.

I found the discussion particularly stimulating because my own research agenda touches on technological innovation in China. I am particularly interested in how law and institutional arrangements in China are affecting technological innovation.

I’ll follow the work of Professors Wilson and Wang with interest.

Transparency?

December 1st, 2004

“Transparency” (touming) is a popular buzzword in China as it is elsewhere. The English-language China Daily reports here about recent calls for increased transparency made by a high-level government official. The article reports:

“All administrative information pertaining to the interests of the public — except state secrets, business secrets and matters of personal privacy — must be made public,” said He Yong, deputy secretary of the Communist Party of China (CPC) Central Commission for Discipline Inspection, said at a national symposium on publicizing government affairs here recently.

Departments that do not obey the rules “will be punished seriously,” he said.

My reaction at this point in the article was, “Yeah, great. Amen”

The article continued:

The move is seen as another step of the Chinese Government towards building a transparent, clean and efficient government, part of its efforts to boost economic prosperity and social order.

It’s interesting that Xinhua’s proffered rationale for greater transparency is that it will lead to greater economic prosperity and “social order.” I think that’s probably true, but obviously in a democratic system you could predicate a call for transparency on the notion that citizens simply have the right to know what their government is doing, regardless of its affect on wealth creation and even if it would lead to short-term disquiet.

Still, I think increasing transparency is a good thing, even if the motive is not political liberalism. Indeed, increasing transparency on economic rationales would seem to bolster the idea that economic liberalization will encourage political liberalization, that “constructive engagement” is the right policy approach because, inter alia, economic liberalization can be a Trojan horse for political liberalization.

I think there has been a steady, incremental increase in transparency in PRC government operations in recent years. But, still, this headline “China Promotes transparent government” overstates realities.

Let me give an example. For months I have been trying to get my hands on a series of judicial decisions issued by the Harbin Intermediate People Court. The judgments are for lawsuits brought by shareholders against Daqing Lianyi, a listed PRC company that the CSRC has determined inflated its profits in order to become listed and then continued to make false disclosure after its listing. These Harbin decisions are the first court judgments to come down in group litigation cases (gongtong susong) since the PRC Supreme People’s Court issued rules on private shareholder litigation. I wrote an article about the SPC’s rules on shareholder litigation, so naturally I am quite interested in how the actual cases are now being handled.

The PRC press has reported widely that the trial court issued judgments in favor of some of the plaintiffs, and Xuan Weihua, one of the lawyers for the plaintiffs, has given many interviews complaining about some aspects of the judgments. However, I need to read the actual judgments–not just press reports about them–to write a follow-up piece, and so far I have been unable to get my hands on copies of the judgments. Ostensibly, they are public records. But they aren’t in the public domain. These “public” records are being kept secret. Lawyers involved in the case are reluctant to share copies of the judgments, knowing they are “sensitive.” But these are not documents related to the national security of China. They are court records about shareholders suing a listed company for disclosure fraud. If they are “sensitive” it must be because the court is reluctant to expose its rationales to public scrutiny or some factual aspect of the case is embarrassing to the government. In either event, someone has decided the decisions shouldn’t be public, and they aren’t.

So I agree China needs to increase transparency. The headline “China promotes transparent government” should be understood to mean “China’s secretive government is beginning to allow transparency in some areas while maintaining black box operations in other areas.”

Old, politically embedded habits will die hard, so there is likely to be room to increase transparency in PRC government operations for a long time.