As we enter Summer, we often think of the many celebrations of the season; Graduations, Weddings, Anniversaries, Father’s Day, Fourth of July and Vacations. . . Yet this summer includes the festivities of the Democratic and Republican Conventions. We will be watching closely the political debates and speeches, to see who will lead our Country through the challenges overseas, the rising cost of fuel and the debacle of the sub-prime loans and real estate market. Many are forecasting this economic downturn as a potential “R”ecession for the Nation… Will we, as Americans, carry forth our ingenuity and resilience, and continue to move forward developing new solutions for the first decade of our 21st Century…as our forefathers did many times before…?

I believe we will come together as a Nation. And to carry on our great Nation, we must
begin at home, with the on-going building of foundations for bridging business, policy
and community leaders; to work cooperatively in developing economic growth like we
do through Technolink Association. Over the last ten years, we have bridged
relationships and linkages throughout Southern California and abroad. This year
alone we have watched Jet Propulsion Laboratory’s Phoenix spacecraft make a
successful landing on Mars, while bridging scientific cooperations with Israel. We
learned about the engineering of the Boeing C-17 and the many lives that are saved by
these great aircrafts. We heard special talks on future innovations, environmental
developments and climate change; insights on the security of our State given by
Matthew R. Bettenhausen, Advisor to Governor Arnold Schwarzenegger and Director
of the California Office of Homeland Security; and reports from the offices of
Governor Schwarzenegger, Congressman Ed Royce and John Campbell. I believe if
we continue to inspire the knowledge, innovation and heart of creative and critical
thinking of our current and future leaders, we as a Nation, will continue to stand
strong as the greatest nation in the 21st Century.

Finally, I would like to give a very special thanks and recognition to our international
members: The Honorable Manu Virtamo, Consul General of Finland, The Honorable
Yaron Gambury, Deputy Consul General of Israel, and Hans Vanden Dool, Deputy
Consul General of The Netherlands. We thank all of you for your endless efforts in
bridging relationship between the members of the Technolink Association and your
countries to strengthen economic growth and partnerships. We will miss all of you and
wish you the best at your new posts. . . Thank you for your friendship and support of
our community!!

Warmest Summer Wishes of Peace,
Ssusan Forte O’Neill, Editor, Technolink Association Perspectives
President and Founder, Forte Designs at www.fortedesigns.net

CHALLENGES TO CALIFORNIA’S GLOBAL LEADERSHIP
IN INNOVATION AND TECHNOLOGY

Ross C. DeVol Director, Regional Economics, Milken Institute

California might think that its leadership in innovation and technology remain unchallenged. The state enjoys considerable advantages, including the nation’s preeminent entrepreneurial ecosystem. However, the main threat to California’s status as a top-tier performer in technology and science can be seen in the severe deterioration of its measures of human capital. Our recent release of California’s Position in Technology and Science documents the extent of the decline of falling from 2nd as recently as 2004 to 4th among all 50 states in 2008.

A key problem that must be addressed is the falloff in graduate student enrollment in the University of California (UC) system and in other leading private universities across the state. Prior to 2001, the enrollment rates of foreign graduate students at UC campuses were on a clear, discernable upward trend. But this decade has seen a precipitous reversal. Enrollment of new international students in doctoral and master’s programs fell 39.7 percent and 34.6 percent, respectively, between the academic years of 2001-02 and 2004-05 in the UC system. Even more disheartening is the dramatic decline in international graduate student enrollment witnessed during the same time period throughout the UC system in life sciences (18.8 percent), physical sciences (39.9 percent) and engineering and computer sciences (29.5 percent).

One of the explanations for this decline is the unintended consequences of post-9/11 restrictions on student visas that were instituted in the name of national security. International graduate students represented a much larger share of total graduate enrollment in the UC System than in other major public universities, so UC was more adversely affected. Other leading universities around the world are successfully competing for top talent—and much of this increased competition stems from foreign universities recognizing that U.S. restrictions on student visas provide them with an opportunity to attract the most gifted students.

The UC system is also losing its competitive edge due to large increases in non- resident tuition rates in recent years. As California enters another budget crisis, we would do well to learn the lessons of price elasticity of demand in the graduate student market. Additionally, the UC system and other leading private universities in the state need to initiate a marketing campaign to introduce themselves to potential international graduate students. Unless California reverses this trend soon, it could be long-lasting, since ties to a particular school tend to be intergenerational and bound to tradition. For More Information Visit www.milkeninstitute.org

DEVELOPING FINANCIAL AND ECONOMIC LITERACY
THROUGH THE EXERCISE OF GOOD JUDGMENT:

Terry R. O’Neill, President & CEO The O’Neill Company Inc.

“History teaches us that we don’t learn anything from history.” -- Hegel

Between 2000 and 2003, technology stocks, which had previously grown to a third of the S&P index, had dropped 50% of their value… this is not to say that these were good or bad stocks, just that relying on past performance as a primary representation of the future is fraught with danger.
From 1996 thru 2000, American workers averaged a measly $49,204 (with median of $13,493) in their 401k retirement accounts. From 1996 thru 2006, average balances grew to $102,014 (with a median balance of $54,591)… Obviously, this is prior to the current market downturn.

However, for a husband and wife, the joint life annuity rate requires actuarially about $200 for every retirement benefit dollar they receive. This means if the couple required $10,000 per month of retirement income (adjusted for inflation), they would need approximately $2,000,000 of capital to provide their retirement income. And consequently, to deliver the same benefit, a single person would require an annuity purchase of about $123 per dollar of benefit; that is, $1,230,000 of capital would be required to deliver a monthly benefit of $10,000. Seems like a very dramatic shortfall from the current account averages.

In 1990, the aggregate value of California residential property was approximately 2.4 trillion US dollars; and in 2006, the value had grown by accretion to 6.5 trillion US dollars. On August 7, 2007, the Global and US economies were in an elongated economic growth cycle, having experienced a liquidity glut along with an extended period of tremendous financial innovation. Suddenly on August 8, 2007, markets seized and the global credit markets turned into a overnight crisis. Well, why was the shock that hit the financial markets not anticipated; or did some see the crises on the economic horizon? Regardless, most chose to ignore the warning.

We can and should blame ourselves for the lack of judgment, thinking that economic euphoria lasts forever. We can also look to the following professionals and individuals for blame: the non-resident speculators, regulators/central bankers, brokers/other intermediaries, rating agencies, institutional investors, home buyers and appraisers. Some homeowners used equity in their home like an ATM or a “stock option plan.”

We should learn from our past experiences and remember to invoke “good
judgment”…and strive to gain economic and financial literacy. We must also be
reminded that history repeats itself. Someone once said “you plan for war in times
of peace.” I always say “it wasn’t raining when Noah built the ark.” So here’s to
exercising “good judgment and personal accountability.”

For More Insights visit Terry at: terry@theoneillco.com or www.theoneillco.com

SPACE INNOVATIONS FROM JET PROPULSION LABORATORY

Lt. General Eugene “Gene” Tattini, Deputy Director, Jet Propulsion Laboratory

JPL continues to conduct its robotic exploration of space and to plan for future missions exploring the solar system, our own planet Earth, and the universe. JPL’s exploration mission includes five major themes: Mars exploration, solar system planetary exploration (other than Mars), astronomy and physics missions, searching for planets around stars other than our sun (“exoplanets”), and characterizing our own Earth. Recent and planned activities in these themes include: Mars: The Phoenix spacecraft landed near Mars’ north pole on May 25 to study the history of water, determine whether the area would support earlier or present life, and study the weather at Mars’ north pole. The robotic geologists Spirit and Opportunity continue to explore Mars on opposite sides of the planet in their 17th warranty period. The next Mars rover, the Mars Science Laboratory (four times larger than the current rovers), is under construction and test in preparation for its August 2009 launch. Solar system exploration: The Cassini Saturn orbiter has discovered water geysers on Saturn’s moon Enceladus (at -300°F), flew through these geysers at only 30 miles from the surface of the moon, and had its mission extended for another two years. The Dawn solar-electric, ion-engine-powered mission to study asteroids Vesta and Ceres (really a “dwarf planet” like Pluto) is successfully on its way to the asteroid belt beyond Mars. Astrophysics missions: The Spitzer Space Telescope continues to peer deep into space and back billions of years in time to study star and galaxy formation and the characteristics of the early universe 13.7 billion years ago, while the former Voyager outer planets mission, now the Voyager Interstellar Mission, is three times farther than Pluto and is seeking the boundary of the influence of our star, the sun, with the interstellar medium. JPL is building its next astrophysics mission, the Wide-field Infrared Survey Explorer (WISE) for launch in 2009. Earth Science: JPL missions continue to monitor the rapidly changing climate of our own planet caused by human activities since the industrial revolution. QuikScat has spotted dramatic loss of sea ice near the North Pole, and GRACE continues to observe accelerating loss of ice mass from both Greenland and Antarctica. CloudSat monitors clouds over the entire planet and measures the cloud structure of major storms such as hurricanes. This year JPL and its international partners will launch a new spacecraft to measure global ocean elevation (a follow-on to the already-flying Jason-1), and the Orbiting Carbon Observatory to measure total carbon dioxide over the whole globe. Exoplanet missions: The Spitzer Space Telescope continues to characterize planets around other stars, while JPL and its partners are building and testing the Kepler spacecraft for launch next year to search 100,000 stars for evidence of Earth-sized planets passing in front of them.

For More Information visit: www.jetpropulsionlaboratory.org

BOEING CHARTING A NEW FRONTIER FOR
ECO-FRIENDLY AEROSPACE TECHNOLOGIES….

Daryl Pelc, Vice President Engineering &Technology Advanced Systems
The Boeing Company

Boeing recognizes the serious challenges facing our eco-system and is committed to improving the effect of our operations, products and services on the technologies for environmentally progressive products and services -- and to design, develop and build them in an environmentally responsible manner.

Our technology approach focuses on improving the environmental performance of our products, improving the efficiency of the air transport systems in which they operate and investigating alternate energy sources, such as sustainable, advanced generation, nonfood biofuels.

Boeing has an ongoing legacy of integrating environmental performance improvements through technology advancements. Over the last 40 years, airplane CO2 emissions have been reduced by nearly 70 percent and the noise footprint area has been reduced by approximately 90 percent. That legacy continues today with every airplane we design and build.

Boeing’s newest airplanes, the 787 Dreamliner and the 747-8, exemplify the company’s dedication to environmental design innovation. Incorporating four innovative technologies—new engines, increased use of lightweight composite materials, high-efficiency systems applications, and modern aerodynamics—the 787 is designed for the environment with an impressive 20 percent improvement in fuel < use and an equivalent reduction in carbon dioxide emissions compared to today’s similarly-sized airplanes. The 747-8 offers a 16 percent improvement in fuel use and carbon dioxide emissions over the 747-400.

While the improvements we have made are significant, we believe we can do more. Boeing has implemented aggressive targets for reducing its impact on the environment both for its operations and the lifecycle of its products. And by learning from and enabling our employees to drive change, Boeing is embedding environmental thought and action into everything we do. Together we can make a difference. For More Information Visit: www.boeing.com

LITTLE BITS FROM THE INTERNET
Gilbert Kuang, Red Monkey Inc.

Resolution of Network Neutrality is critical for all new products and services which
use the Internet. A balance must be achieved between government control of internet
traffic and corporations desire to create new opportunities and profits through price tiering
and surcharges of broadband customers.

Protecting the internet and its users is important, but excessive control can promote
censorship and discrimination. Downloading The Daily Show, checking my mail, and
calling overseas are all equally important to me.

Guidelines must be created and enforced, but the Internet was founded as impartial
with equal access to all users. We must be able to maintain Quality of Service and still
provide equal access, if not universal access. We can and we should make the Internet
smart enough to be a “stupid” (meaning neutral) network for everyone. And still create
new opportunities and profits.

Otherwise, we should use phone line for voice, and a cable for video. Then I would
be able to make a call or watch TV while deleting spam in my mailbox. Now would that be
progress?

Red Monkey is an Internet provider, providing flat-rate DSL service and corpohosting services for a wide range of clients. www.redmonkey.net • 310/652-1400.

INSIGHTS FROM CONGRESSMAN JOHN CAMPBELL

“At the beginning of June, the Senate approved a bloated $3.1 trillion
budget, $21 billion above the President’s request.  Despite the looming entitlement
crisis and a deficit of nearly half a trillion dollars, the budget does nothing to
address these issues, not to mention that it allows more than 20 million taxpayers to
be burdened by the alternative minimum tax (AMT) after next year, it fails to renew
President Bush’s tax cuts, doesn’t even point out the need for earmark reform, nor
does it take into account the more than $50 billion dollar GI Bill, which will likely be
approved by Congress sometime in June.
  If it wasn’t apparent before, it is crystal clear now; the current majority is
more willing to pass on existing problems to the next administration and Congress
rather than work towards a solution now.” -- Congressman John Campbell
Contact: Chris Palmer, District Director 949.756.2244 www.campbell.house.gov

SACRAMENTO REPORT

Governor Schwarzenegger is focusing attention on several pressing issues,
but budget reform is first and foremost. California faces significant budget deficits
every time our economy struggles because there is no link between revenues and
spending – and the state spends billions more than it takes in because about 90
percent of our budget is automatically driven. Plus from year to year, we see wide
variations in revenues. So the Governor has proposed the Budget Stabilization Act,
a constitutional amendment that would require the creation of a Rainy Day Fund
into which the state would put money in above-average years to cover shortfalls in
below-average years. This type of structural reform will stop Sacramento from
spending all the money that comes in when revenues spike, and will make the
budget more dependable, predictable and stable, now and in the futumore news from the State Capitol visit: www.governor.ca.gov