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Press Release:

LET THE ADVENTURE CONTINUE: PENTAX UNVEILS Optio WG-2 and Optio WG-2 GPS

13th Generation PENTAX Adventure Cameras Now Waterproof to 40 Feet, New Backlit 16 MP Sensor, Shoots 1080p Video and Feature Six LED Lights, and Optional SportMount Chest Harness

DENVER, CO. (February 7, 2012)…PENTAX RICOH IMAGING AMERICAS CORPORATION just  pushed the PENTAX WG adventure camera series to the edge for the 13th time with the introduction of the PENTAX Optio WG-2 and PENTAX Optio WG-2 GPS digital compact cameras.   These rugged, waterproof, dustproof and shock-resistant models feature more durability than ever before as well as improved image quality in high-sensitivity shooting and Full 1080p HD movie recording capability.

The Optio WG camera family is ready for adventure in any outdoor setting. Foremost in the latest models’ feature set is a new back-illuminated 16 megapixel CMOS image sensor and powerful imaging engine that perform superbly in high-sensitivity settings such as night shooting or in poorly illuminated indoor settings.  The WG-2 models deliver clear, sharp images with less noise than previous models.
Other major improvements in the latest models include:

• High-resolution Full HD 1080p movie recording (1920 x 1080 pixels) at 30 FPS with high quality h.264 compression.
• Waterproof to depths of 40 feet.
• Digital Microscope mode with one additional macro LED (total of six lights) for excellent macro lighting of subjects as close as 1 cm.
• A newly designed GPS module that delivers a shorter time lag before GPS start-up and longer battery life during GPS activation.  
• A new optional SportMount Chest Harness that straps-on the WG-2 for hands-free HD movie capture of every exciting moment of adventure on land, sea or in the air.  

Other outstanding WG-2 features include:

• Shockproof design protects camera drop up to 5 feet.
• Crushproof construction withstands weights up to 220 LBF (pound-force).
• Coldproof to sub-freezing temps of minus 10 degrees C (14 degrees F).
• Dustproof design protects the camera from dry, dusty environments.
• Wide angle 5X internal optical zoom lens (28-140mm equivalent).
• Large 3 inch LCD features HVGA resolution (460,000 dots) and anti-reflective coating on its protective cover.
• Hardened cover with SP coating protects internal lens elements.
• An HDMI port (Micro, Type-D) plays back beautiful, high definition images and video on HDTVs.
• Pixel Track, Digital, and Movie Shake Reduction ensure sharp, blur-free images and video.
• Fast Face Detection technology including Smile Capture and Blink Detection to capture perfect portraits.
• A Handheld Night Snap mode produces a single blur-free, composite image from four images of the same scene.
• An autofocus assist lamp helps to quickly and accurately focus.
• Extended dynamic range helps bring out extra highlight and shadow detail.
• PENTAX infrared remote control compatibility for remote shooting.
• GPS and non-GPS versions are available in several new stylish color options.

Priced at $349.95 USD, Optio WG-2 will be available in a choice of Black or Vermillion Red, while the Optio WG-2 GPS will be priced at $399.95 USD in a choice of Shiny Orange or Gloss White. The new SportMount Chest Harness will be priced at $49.95 USD and should be available late spring or early summer 2012.  Optio WG-2 cameras can be pre-ordered on www.pentaxwebstore.com to ship by March 2012.  

PENTAX OPTIO WG-2 and OPTIO WG-2 GPS FACT SHEET

Newly incorporated back-illuminated CMOS image sensor for high-quality images

The Optio WG-2 and Optio WG-2 GPS are equipped with a new back-illuminated CMOS image sensor that offers lower noise even when camera is set to higher sensitivities. With sensitivity as high as ISO 6400 and 16.0 effective megapixels, this image sensor delivers super high-resolution images.  A new imaging engine also applies the latest super-resolution technology to image processing operations to further ensure sharp, clear, high-resolution images. These models also feature a new Handheld Night Snap mode, which captures four images of the same scene, then automatically produces a single blur-free, composite image.

Full 1080p HD movie recording for extended recording of high-quality movies

The Optio WG-2 and Optio WG-2 GPS now offer Full 1080p HD movie recording function in h.264 recording format for high-quality, extended movie clips (1920 x 1080 pixels) at a frame rate of 30 frames per second. The cameras feature a high-speed camera function* for slow-motion playback of captured movie clips and an interval movie function to simplify advanced movie-recording techniques. A micro-HDMI terminal (Type D) on the camera body allows output of Full HD movie clips and sound to external devices.

* When this function is selected, the recorded size is fixed at VGA (640 x 480 pixels).

Improved, Advanced GPS function to add a new dimension to digital photography (available with the Optio WG-2 GPS only)*

PENTAX improved the GPS function in the latest Optio adventure models in a number of ways:
1)         An improved GPS module that shortens the time lag before the start of GPS operation which  greatly extends the operating life. 
2)         The module also allows users to record position data when shooting still images and take advantage of various GPS-compatible applications and services provided by the included software* and such Web sites as Google Maps™. 
3)         The module corrects the built-in clock automatically to match local time of a particular shooting location.
4)         The module automatically creates log data and stores it as a KML-format file onto an SD memory card.  This log feature helps users keep accurate track of the movement during outdoor shooting, and display it later on the computer using various online services such as Google Earth™. 
5)         Overall improvements to speed, accuracy, and battery life when GPS receiver is active.

* This function is available with the Windows version only.

Heavy-duty construction for underwater shooting up to 40 feet for up to two continuous hours

PENTAX upgraded the Optio WG-2 and Optio WG-2 GPS’s underwater performance in depths up to 40 feet (from 30 feet)  for up to two hours of continuous operation (equivalent to IPX8 or JIS Class 8 waterproof performance). The new cameras also are designed to be highly shockproof,* dustproof,** coldproof, ***, and crushproof.**** Together, these features make the Optio WG-2 and Optio WG-2 GPS dependable, heavy-duty imaging partners in harsh, demanding shooting conditions.

* Measured under PENTAX-original testing standards (from a height of 1.5 meters, onto a surface of 5cm-thick plywood), conforming to the Method 516.5-Shock of the MIL-Standard 810F, to show the stable operations.
** Measured under PENTAX-original testing standards, equivalent to IPX6 or JIS Class 6.
*** Measured under PENTAX-original testing standards, with which camera is proven to withstand temperatures as low as -10°C to show the stable operations.
**** Measured under PENTAX-original testing standards, by which camera is put on with weights up to 100 kgf or kilogram-force (220 LbF or Pound Force) to show the stable operations.

Digital Microscope mode with six LED Macro Lights for outstanding macro photography

PENTAX added an additional LED light to the new WG-2 models.  By positioning six LED Macro Lights (compared with five) around the circumference of the lens barrel for macro shooting, the new models offer brighter, more uniform illumination on the subject when the Digital Microscope mode is selected.*   With the Macro Lights, users may clearly see a magnified view of the microscopic world often unnoticeable with the naked eye on the camera’s LCD monitor and effortlessly capture eye-catching images. The function increases the illumination level of the LED Macro Lights at the moment of shutter release.  The function is also upgraded to allow for the use of a higher shutter speed to minimize camera shake and subject movement. The Macro Lights can provide other user-friendly non-macro features, such as a Self-Portrait Assist mode which illuminates the macro lights when the camera detects a face within the frame; and a new LED lighting mode that illuminates the Macro Lights using them as a makeshift flashlight in the dark.

* When the Digital Microscope mode is selected, the recorded size is fixed at 2.0 megapixels (at 16:9 proportions).

Extra-large, high-resolution 3.0-inch LCD monitor

Each new Optio WG-2 and Optio Wg-2 GPS features an extra-large, high-resolution 3.0 inch LCD monitor with wide 16:9 aspect ratio and approximately 460,000 dots of resolution.  An Anti-Reflection (AR) coating minimizes annoying glare and reflections to assure a sharp, clear on-screen images even under harsh sunlight, while its wide-view design offers a clear view of the monitor from approximately 170 degrees horizontally and vertically, making it particularly useful in low and high angle shooting.

5X optical zoom lens with 28mm wide-angle coverage

The new Optio WG2 and Optio WG-2 GPS feature a high-performance 5X optical zoom lens covering focal lengths from 5mm to 25mm (equivalent to approx. 28mm wide angle to 140mm telephoto in the 35mm format). This versatile zoom lens captures beautiful images of a wide range of subjects and scenes from spectacular landscapes to family/group shots in a confined space. With the camera’s Intelligent Zoom function, users may further extend the zoom range to approximately 36 times to cover the focal length of an approximately 1008mm super-telephoto lens (in the 35mm format) to capture extra-high-magnification images without compromising image quality.

Triple Shake Reduction (SR) protection for stabilized, sharp, blur-free images

(1) Pixel Track SR mechanism
When recording still images, this shake-reduction mechanism effectively compensates for camera shake by digitally processing affected images.
(2) Digital SR mode
When the cameras detect low-lighting conditions in still-image shooting, sensitivity automatically rises  to as high as ISO 6400 making it possible to use a higher shutter speed to effectively minimize the adverse effects of camera shake and subject motion under poor lighting conditions.
(3) Movie SR mode*
During movie recording, this digital shake-reduction mode effectively compensates for camera shake to produce beautiful, blur-free movie clips.

* When the Movie SR mode is selected, the angle of view becomes narrower than normal shooting.

Additional Features

• Carabiner strap included for hooking the camera to a backpack or other outdoor gear
• Two remote-control receptors for remote control (optional accessory) signal either from front or back of the camera
• A Macro Stand standard accessory for effortless macro photography even at a minimum distance of one centimeter away from the subject
• High-speed Face Detection function captures up to 32 faces in approx. 0.03 seconds, and Smile Capture function to automatically release the shutter the instant the subject’s smile is detected
• Instant startup with a Playback mode (simply press and hold the playback button)
• Auto Picture mode automatically selects the most appropriate shooting mode from 16 different scene modes
• 12 digital filters
• Digital Wide mode to compose  an extra-wide-angle picture (equivalent to approx. 21mm wide angle in the 35mm format) from two separate images
• Pet mode to automatically recognizes the face of a dog or cat
• Image viewing, editing and filing software included: MediaImpression 3.5 for PENTAX (Windows version compatible with Windows 7) and MediaImpression 2.1 for PENTAX (Macintosh version compatible with Mac OS X 10.7)
• Compatibility with Eye-Fi wireless LAN SD memory cards
• SportMount Chest Harness will be available as an optional accessory to shoot your adventure video from your perspective.

Pentax Optio WG-2 and WG-2 GPS specifications

Additional images

Press Release:

PENTAX to Exhibit 7 Reference Products at CP+ 2012 Camera and Imaging Show

PENTAX RICOH IMAGING COMPANY, LTD. is pleased to announce the exhibition of seven reference products — interchangeable lenses and camera accessories currently under development — at CP+ 2012, one of the largest and most comprehensive camera and imaging shows in Asia. This annual event will be held from February 9th to 12th at the PACIFIC YOKOHAMA convention center in Japan.

Reference Products

1 Interchangeable lens for medium-format digital SLR camera

   Model name (tentative): smc PENTAX-D FA645 90mm F2.8

• Unifocal medium-telephoto lens for use with the PENTAX 645D
• Focal length ideal for portraiture and high-quality image reproduction with beautiful bokeh (out-of-focus) effect
• Market launch scheduled for 2012

2 Interchangeable lenses for K mount digital cameras

   Model name (tentative): smc PENTAX-DA 560mm F5.6

• Unifocal super-telephoto lens for use with K mount interchangeable-lens digital cameras
• Sharp, well-defined images — particularly with distant subjects — thanks to the adoption of optics used in astronomical telescopes
• Market launch scheduled for 2012

   Model name (tentative): smc PENTAX-DA 50mm F1.8

• Unifocal standard lens for use with K mount interchangeable-lens digital cameras
• Maximum aperture of F1.8 for high-quality images with a superb rendition of depth and natural bokeh (out-of-focus) effect
• Market launch scheduled for 2012

3 Interchangeable lenses for Q mount digital camera

   Model name (tentative): TELEPHOTO ZOOM

• Telephoto zoom lens (high-performance-lens series) for use with Q mount interchangeable-lens digital camera
• Exceptional image rendition for sharp, high-contrast images, even at the edges of the image field, thanks to the state-of-the-art optical design
• Market launch scheduled for 2012

   Model name (tentative): MOUNT CAP LENS

• Unifocal standard lens (unique-lens series) for use with Q mount interchangeable-lens digital camera
• Eye-catching “body mount cap” design, along with a toy-camera-like visual effect
• Market launch scheduled for 2012

4 Interchangeable K-mount lens for the PENTAX K-01

   Model name: to be announced later

• Super-thin interchangeable lens especially designed for PENTAX K-01
• Market launch: to be decided

5 Lens adapter

   Model name: Adapter Q for K mount lens

• Lens adapter for mounting a K mount lens onto a Q mount interchangeable-lens digital camera body
• Built-in shutter unit; manual-focus operation only
• Market launch scheduled for spring 2012

Press Release:

PENTAX RICOH IMAGING AMERICAS CORPORATION INTRODUCES OPTIO VS20 WITH 20X ZOOM AND VERTICAL SHOOTING ENHANCEMENTS

(DENVER, CO) January 25, 2012…PENTAX RICOH IMAGING AMERICAS CORPORATION announced the Optio VS20 digital compact camera today. This versatile model features a high-power 20X optical zoom lens (28-560mm equivalent) and a second vertical shutter-release button with zoom lever for effortless portrait oriented shooting. A vertical shutter release and zoom lever give the Optio VS20 a unique feature typically found on DSLR cameras, which lends itself to added stability at long optical zooms, as well as comfortable grip for such images as portraits, high rise buildings and architecture, monuments, trees, sports action, and panorama frames. The Optio VS20 even includes a vertical tripod socket for outstanding stabilized vertical support.  A new Handheld Night Snap mode also is introduced to capture beautiful images with minimal blur and noise even in low light settings.

The Optio VS20 body is built in a compact digital form factor, and offers several other advanced functions and user-friendly features including:

• A 16.0 megapixel CCD sensor with mechanical sensor shift Shake Reduction for stabilized, blur-free images even in low lighting
• A large 3.0 inch, wide view (approx. 170 degrees) LCD for easy image capture and review
• Auto Picture mode that automatically chooses the best camera settings
• Triple Shake Reduction (SR) for sharp, blur-free images and video
• Other new scene modes including Fish-eye, Sketch modes and a Stretch filter for more creative options 

The PENTAX Optio VS20 will be available in noble black and brilliant white on www.pentaxwebstore.com for $249.95 in February 2012.

PENTAX OPTIO VS20 FACT SHEET

The 20X optical zoom lens with 28mm wide-angle coverage handles a variety of subjects and scenes

The Optio VS20 features a high-performance, extra-powerful 20X optical zoom lens covering focal lengths from 28mm wide angle to 560mm super-telephoto (equivalent in the 35mm format).  The extra-wide zoom range captures images in a wide range of subjects and scenes from landscapes to sports events.   A high-quality Macro mode shoots down to just one centimeter from the subject.  An  Intelligent Zoom function further extends the zoom range to approximately 144X to cover the focal length of an approximately 4032mm super-telephoto lens (in the 35mm format) without compromising image quality.

Effortless, comfortable vertical-position shooting with image orientation shift and vertical position tripod socket

The Optio VS20 enhances vertical shooting three ways:

• An extra shutter-release button and a second zoom lever offers a better grip for vertical shots 
• Automatic shift of image display orientation (from horizontal landscape to vertical portrait by detecting vertical alignment with its orientation sensor)
• A vertical-position tripod socket to securely set the camera up with a lighter, more portable tripod

Exceptional image quality

With 16.0 effective megapixels, a high-performance smc PENTAX zoom lens, and a CCD shift Shake Reduction (SR) mechanism, the Optio VS20 delivers well-defined, high-quality images.  Even when enlarged, images offer high-resolution prints with outstanding edge-to-edge sharpness.

Large 3.0 inch LCD monitor

The Optio VS20 features an HVGA high-resolution 3.0 inch color LCD monitor with approximately 460,000 dots. Since this extra-large monitor provides a clear view of images and menus, the photographer can quickly and efficiently check captured images and menu settings. In addition, the monitor is treated with AG (Anti-Glare) coating to improve visibility by minimizing reflections and blocking stains such as fingerprints.

Triple Shake Reduction for sharp, blur-free images

Sensor-shift-type Shake Reduction (SR) mechanism

The advanced sensor shift SR mechanism produces sharp, blur-free images even under shake-prone shooting conditions such as when shooting with a telephoto lens, at sunset or indoors with low-lighting.

Digital SR mode*

During still-image shooting, the Optio VS20 automatically raises its sensitivity to as high as ISO 6400 by detecting the subject’s brightness level. This user-friendly feature allows photographers to capture the subject at faster shutter speeds to minimize the risk of camera shake and subject shake.

Movie SR mode**

During movie recording, the Movie SR mode effectively compensates for camera shake to produce beautiful, stabilized movie clips.

*When the Digital SR mode is selected, the recorded size is fixed at five megapixels (2592 x 1944 pixels).
** When the Movie SR mode is selected, the angle of view becomes narrower than normal shooting.

Automatic selection of the most appropriate shooting mode

The Optio VS20 features the PENTAX-developed Auto Picture mode, which automatically selects the most appropriate shooting mode for a given subject or scene by accurately assessing various photographic conditions over the entire image field. This user-friendly mode selects one of 15 shooting modes including Blue Sky and Sunset among others, and optimizes various camera settings (such as sensitivity and shutter speed) for the best results with minimal effort.

New Scene and Filter modes for greater creative options

Thirteen user-friendly scene modes allow the photographer to effortlessly capture beautiful images simply by selecting a desired scene mode for a given subject or scene.  Handheld Night Snap for low light allows photographers to take pictures while confirming the level of filtering effect on the LCD monitor, and Fish-eye and Sketch modes offer creative visual effects for more personalized expression.  A New Stretch filter extends a particular portion of an image for an eye-catching special effect.

Upgraded auto face recognition function with a new face recall function

The Optio VS20 Face Recognition AF & AE function offers a new Face Recall function that prioritizes a pre-registered face when optimizing focus and exposure settings, which comes in handy when taking group shots. To assist the photographer in capturing beautiful, lively snapshots, the Optio VS20 also provides other user-friendly features including the Smile Capture mode that automatically releases the shutter the moment the camera detects the subject’s smile, and the Blink Detection function that warns the photographer when the subject’s eyes close at the time of shutter release.

High-quality HDTV movie recording with pushbutton start

The Optio VS20 captures beautiful, high-definition movie clips (1280 x 720 pixels).* Since the camera provides an independent movie recording button on its back panel, the user can instantly start recording movie clips from any shooting mode. It also features three new digital filters (Fish-eye, Miniature and Sketch mode) to allow the user to experiment with more diversified visual expressions.

*When the Optio VS20’s AV output terminal is used, movie clips are output as normal image-size data. If the user wishes to play back movie clips at high-definition TV proportions (1280 x 720 pixels), the data must be transferred to a personal computer for playback.

Pentax Optio VS20 specifications

Additional images

The Sigma Corporation is pleased to announce the new Sigma 17-50mm F2.8 EX DC HSM for Sony, and for Pentax.
This large aperture standard zoom lens is designed for digital SLR cameras and covers a focal length from 17mm wide angle. It is a compact lens with an overall length of just 91.8mm (3.6”). This lens offers a large aperture of F2.8 throughout the entire zoom range, making it ideal for many types of photography such as portraiture and landscapes. Two FLD (“F” Low Dispersion) glass elements, which have performance equal to fluorite glass, compensate for color aberration. Two glass mold and one hybrid aspherical lens, provide excellent correction for field curvature and astigmatism.

The Super Multi-Layer Coating reduces flare and ghost. This lens has superior peripheral brightness and provides sharp, high contrast images even at the maximum apertures. High image quality is assured throughout the entire zoom range. Incorporating HSM (Hyper Sonic Motor), the lens provides fast and quiet AF. The lens has a minimum focusing distance of 28cm (11”) throughout the entire zoom range and a maximum magnification ratio of 1:5. The rounded 7 blade diaphragm creates an attractive blur to the out of focus images. The inner focusing system eliminates front lens rotation, making the lens particularly suitable for use with the supplied petal-type lens hood and circular polarizing filters.

17-50mm F2.8 EX DC OS HSM for Sony and for Pentax will be discontinued with the launch of this lens.

Sigma 17-50mm F2.8 EX DC HSM Specifications:

Press Release:

PENTAX ANNOUNCES THE OPTIO RZ18 WITH 18X ZOOM

GOLDEN, CO. (September 12, 2011)…PENTAX Imaging Company announced the Optio RZ18 digital compact camera. Featuring a slim, lightweight body, the new model offers a powerful 18X optical zoom lens covering focal lengths from 25mm wide angle to 450mm super-telephoto (in the 35mm format). The Optio RZ18 is the latest addition to PENTAX Optio RZ zoom lens series, which provides photographers simple, effortless shooting of a wide variety of subjects and occasions, from travel and landscape to action and spectator sports.

The Optio RZ18 features include:

• Generous 18X zoom (equivalent to 25-450mm) with extra wide angle lens captures subjects near and far.
• High resolution 16 megapixel sensor for large prints or aggressive image cropping.
• Slim footprint for outstanding portability and inconspicuous use.
• Multiple PENTAX Shake Reduction (SR) image stabilization options, including sensor-shift SR, for sharp images in any lighting.
• Large 3 inch LCD with HVGA resolution (460,000 dots).
• Powerful automatic shooting modes such as Auto Picture and scene modes take the guesswork out of great photography.
• Creative special effects filters add artistic flair to the common snapshot.
• Advanced 9-point autofocus with a 4cm super macro mode.
• Face detection for perfectly focused and exposed portraits, includes a dedicated pet recognition feature.
• Widescreen HD video in 720p at 30 frames per second.

The Optio RZ18 will be available in black, pearl white or metallic orange for $299.95 USD in October 2011.

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The World’s Smallest, Lightest Interchangeable Lens Camera

GOLDEN, CO. (June 23, 2011)…PENTAX Imaging Company has announced the PENTAX Q – the world’s smallest and lightest interchangeable lens camera (ILC).* The Q offers the versatility and precision of an advanced DSLR in a body that is significantly smaller than every other digital ILC body available on the market today.

The camera’s tiny size, lightweight design, and superior image quality are made possible by an innovative PENTAX developed imaging system. With a high-resolution 12.4 megapixel, 1/2.3 inch CMOS image sensor, the Q carves out an entirely new camera category that extends beyond traditional digital compact, APS-C or 4/3 digital cameras. The backlit sensor is a highly efficient light-gathering instrument that produces very little noise at high sensitivity levels particularly in low light settings. Further, the new Q lens mount is a perfect match with the new sensor and every interchangeable Q lens is designed for more advanced image quality than may be found on traditional compact digital cameras. This innovative PENTAX design is the foundation of the Q’s position as the world’s smallest, lightest ILC system with superior image quality.

Several important features of the PENTAX Q include:

• A newly designed PENTAX Q-mount lens system for convenient interchangeability with a variety of specialty Q lenses including prime, zoom, fisheye and more.
• Exceptional image quality in 12.4 megapixels from the Q’s 1/2.3 inch backlit CMOS image sensor. Capable of producing 12 bit DNG RAW and JPG images, the backlit CMOS sensor is a highly efficient light-gathering instrument designed specifically to produce very low noise at high levels of sensitivity.
• Extremely compact, durable, lightweight, scratch resistant magnesium alloy body.
• The power and flexibility of traditional DSLR shooting modes such as Program, Aperture/Shutter Priority, and Metered Manual exposure control as well as highly convenient PENTAX Auto Picture and 21 scene modes for casual shooting, including new Forest and Stage Lighting options
• A variety of creative modes, Smart Effect options, or camera settings that assign to the Q’s Quick Dial located on the front of the camera. Smart Effects modes enhance digital photography by applying a series of effects to images to achieve high quality finishing. Brilliant Color, Vintage Color, Warm Fade, Bold Monochrome, and Water Color are just some of the Smart Effects available and may be assigned on the Q’s Quick Dial.
• In-camera HDR capture mode shoots 3 images of varying exposures, blending them to bring out the details in even the darkest shadows and brightest highlights of extreme contrast shots.
• High quality motion video with stunning full 1080p HD clarity at 30 frames per second. The Q processes the full HD video using high quality h.264 compression for superior color and detail and offers creative video effects through custom image modes, digital video filters, and interval shooting.
• A sensor-shift Shake Reduction system with integrated DRII Dust Reduction for blur and dust free images even in low lighting.
• 5 frames per second continuous shooting mode for any fast action setting.
• Effortless bokeh control with the Q’s Bokeh Control filter. (Traditionally controlled through a DSLR lens’s aperture, bokeh is the out of focus part of the background that helps to emphasize the subject, drawing the viewer’s eyes to the most important part of the photo.) The Q offers a fine degree of extra control over image bokeh via an in-camera filter operation.
• Powerful USER modes allow the creative photographer to save a series of favorite camera settings, filters, and custom image modes for instant reuse.
• Shutter speeds range from 1/2000 to 30 seconds for freezing fast action or capturing long nighttime exposures. Bulb mode adds flexibility for low light photography and motion effects.
• A built-in popup flash adds the perfect amount of extra light to an image with a high extension to naturally reduce the redeye effect common to compact cameras. The Q’s flash is effective to 23 feet at 200 ISO, and covers a wide angle 28 degree field of view.
• Compatibility with the latest generation SD, SDHC, and SDXC memory cards for ultra-high capacity storage as well as outstanding image file portability.

Along with the Q, PENTAX introduced the PENTAX 01 Standard Prime kit lens and an optional optical viewfinder. The unifocal standard lens has a focal length equivalent to 47mm in the 35mm format. The lens offers a natural perspective similar to that of the human eye and is ideal as a multipurpose, everyday standard lens for various subjects including landscape and portraiture. With a maximum aperture of F1.9, it performs superbly in dim lighting and may be easily adjusted for bokeh. Incorporating two high grade aspherical optical elements, this lens compensates various aberrations to a minimum .

Featuring the state-of-the-art optics incorporating special optical glass elements and PENTAX exclusive lens coating technology, this lens delivers beautifully defined, high quality images that are sharp and high contrast even at the edges. The AF motor installed in the lens assures smooth, quiet focusing operation. The lens shutter mechanism allows the PENTAX Q’s built-in auto flash to be synchronized to the camera’s top shutter speed of 1/2000 second (or 1/250 second when using an accessory flash unit). This lens is also equipped with a built-in ND (neutral density) filter, which comes in handy when shooting with open aperture at bright locations or when using slower shutter speeds.

The shoe-mounted viewfinder attachment is an optional accessory. This External Viewfinder O-VF1 offers outstanding compositional framing, even in the brightest sunlight where viewing an LCD screen is traditionally a challenge. (Note: The Viewfinder offers framing marks for the Standard lens.)

Available in white or black body models, the PENTAX Q and Standard Prime lens (available in silver) kit will be around $800. Initially, the PENTAX Q system will ship in Japan. Anticipated shipping time to the United States is early Fall 2011.

The optional shoe-mounted viewfinder will be available at the same time for $249.95 USD. Each may be pre-ordered now on www.pentaxwebstore.com The PENTAX 01 Standard Prime kit lens will not be sold separately. More information is available here: www.pentaximaging.com/news

Zoom, Fish-Eye, Toy Telephoto Among Selection

GOLDEN, CO. (June 23, 2011)…In addition to the standard lens announced today, PENTAX Imaging Company has announced four accessory Q-mount lenses designed for exclusive use with the PENTAX Q – the world’s smallest, lightest interchangeable lens system camera (ILC).* Each new lens is highly compact and lightweight with an optimized image circle to match the size of the Q’s CMOS image sensor. This new Q-mount lens series offers PENTAX Q users a comprehensive lens selection. 

PENTAX 02 Standard Zoom
With a focal length equivalent to a 27.5-83.0mm zoom lens in the 35mm format, this standard zoom lens is ideal for wide angle to medium telephoto range. With four extra-low-dispersion and low-refractive aspherical optical elements, the lens offers exceptional image rendition while effectively reducing chromatic aberration to a minimum over the entire zoom range. The Standard Zoom features a minimum focusing distance of 11.8 inches (30 centimeters) at all focal lengths for close-up photography. Featuring a high-grade finish, this lens incorporates the special optical glass elements and PENTAX exclusive lens coating technology for beautifully defined, high quality images that are sharp and high contrast even to the edges. The AF motor installed in the lens assures smooth, quiet focusing operation. The lens shutter mechanism allows the PENTAX Q’s built-in auto flash to be synchronized to the camera’s top shutter speed of 1/2000 second (or 1/250 second when using an accessory flash unit). This lens is also equipped with a built-in ND (neutral density) filter for open aperture shooting at bright locations or when using slower shutter speeds. The lens price $299.95 USD.

Three additional lenses also are announced. Each offers outstanding value at an affordable price so users may produce a variety of distinctive, dramatic images. Each features manual focus operation, fixed aperture and lightweight lens mount minus a lens shutter unit to reduce size and weight.

PENTAX 03 Fish-Eye
This ultra wide angle lens offers an extra wide 160 degree angle of view allowing photographers to create a fish eye visual effect. The distinctive ultra wide angle characteristics produce unique, eye-catching images with an exaggerated, distorted perspective and a pan-focus effect that captures every element in the image field in sharp focus. The lens price is $129.95.

PENTAX 04 Toy Lens Wide and PENTAX 05 Toy Lens Telephoto
With optics designed specifically to retain various lens aberrations, these lenses produce subdued, nostalgic images like photos taken with a traditional toy camera. The Toy Lens Wide is a unifocal wide angle field of view with a focal length equivalent to 35mm in the 35mm format. The PENTAX 05 Toy Lens Telephoto is a unifocal medium telephoto lens with a focal length equivalent to 100mm in the 35mm format. The PENTAX 04 Toy Lens Wide price is $79.95 and the PENTAX 05 Toy Lens Telephoto is $79.95.

Additional accessories for the PENTAX Q system lenses will include the following (prices and availability to be announced):

PENTAX-100 PL Filter
Attached to the PENTAX 01 Standard Prime or PENTAX02 Standard Zoom, the 40.5mm polarizing filter minimizes reflections on the water or glass surface, which are difficult to remove during digital processing, to assure crisp, high contrast images.

MH-RA 40.5mm
A metallic, dome-shaped lens hood for exclusive use with the PENTAX 01 Standard Prime lens.

PH-SBA 40.5mm Lens
A plastic, square-shaped lens hood for exclusive use with the PENTAX 02 Standard Zoom lens.
Initially, the PENTAX Q system will ship in Japan. Anticipated shipping time to the United States is early Fall 2011.

Each of these lenses may be pre-ordered now on www.pentaxwebstore.com The PENTAX 01 Standard Prime kit lens will not be sold separately. More information is available here: www.pentaximaging.com/news 

Press Release

Announcing the 18-200mm F/3.5-6.3 Di III VC (Model B011), Tamron’s first high-power zoom for Sony’s NEX-series mirrorless interchangeable-lens cameras*.

Tamron 18-200mm F/3.5-6.3 Di III VC (Model B011)

Innovative lens is lightweight, compact, and features a striking new form factor with two color options.

December 8, 2011, Saitama, Japan – Tamron Co., Ltd. (President & CEO: Morio Ono; Headquarters: Saitama City), a leading manufacturer of optical equipment, announced the introduction of an exciting new lens, the 18-200mm F/3.5-6.3 Di III** VC (Model B011). The new high-power zoom lens is designed for the Sony E-mount system of its NEX series interchangeable-lens, lightweight and compact digital cameras. Sales in Japan will commence from December 15, 2011.

Product Features

• 1. High-power 18-200mm*1) lightweight and compact zoom lens weighing 460g with a 62mm filter is designed for the E-mount system of Sony’s NEX series mirrorless interchangeable-lens cameras. Equipped with Tamron’s acclaimed VC (Vibration Compensation), the lens enables easy handheld shooting from 18mm wide angle to 200mm full telephoto.
• 2. Striking appearance worthy of the NEX series design. The metallic lens barrel exterior is available in two colors: black and silver.
• 3. Stepping motor adopted for the AF drive, a construction that accommodates Contrast-detection AF and shooting video.

* “Mirrorless interchangeable-lens cameras” are also known as “Compact System Cameras.”

**Di III (Digitally integrated design): A designation Tamron gives to lenses engineered specifically for mirrorless interchangeable-lens cameras with no internal mirror box or pentaprism, adopting an optical design that matches the characteristics of the digital camera. (Note: These lenses cannot be used with digital SLR cameras with built-in mirror box or conventional 35mm film SLR cameras).

(*1) As the NEX series cameras (NEX-3, NEX-C3, NEX-5, NEX-5N as of December 8, 2011) have an image sensor equivalent in size to APS-C sensors, the angle of view is 27-300mm when converted to 35mm format.

The 18-200mm F/3.5-6.3 Di III VC (Model B011) (referred to below as 18-200mm Di III VC) is a high-power zoom lens, developed by zoom lens pioneer Tamron, for use with the E-mount system of Sony’s NEX series compact interchangeable-lens cameras. Tamron brings 19 years of high-power zoom lens development technologies to this product.

Tamron has created a lens that is compact and lightweight, featuring a 62mm filter and weighing only 460g, at the same time delivering superlative image quality. This size allows users to easily enjoy shooting across the whole range – from wide-angle to full telephoto – with just one lens.

Featuring a striking appearance befitting the NEX series design, the lens is available in silver and black.
The AF drive has a stepping motor that is optimal for the Contrast-detection AF system employed by NEX series cameras. This has also enabled improvements in AF performance when shooting video. In addition, ease of operation is enhanced with the Direct Manual Focus (DMF) function, which allows the user to make fine manual adjustments after initially focusing by AF.

The focal length coverage is 18-200mm. Converted to the coverage of a the 35mm format, this is equivalent to a range of 27mm wide-angle up to 300mm full telephoto. This allows the user to take wide-angle shots of expansive landscapes and powerful telephoto images that enlarge the details of distant subjects—all with one lens. In addition, by setting the lens at the telephoto end (200mm) and moving in to the minimum focus distance of 0.5m, flower petals, jewelry and other small objects can be shot as expanded close-ups.

Equipped with Tamron’s acclaimed VC (Vibration Compensation), and thanks to its light weight and compact size, this lens allows easy handheld shooting of sharp images with no camera shake over a wide range of settings, from everyday snapshots to memorable travel scenes.

This lens was developed, manufactured and will be sold based on the specifications for the E-mount that was disclosed by Sony Corporation under Tamron’s license agreement with Sony Corporation.

• About the stepping motor
  The B011′s autofocus mechanism uses a stepping motor that is an ideal match for the Contrast-detection AF system used in Sony’s NEX series cameras. The stepping motor’s actuator allows finely tuned control of angular rotation,
  and since it drives the focusing mechanism directly without an intermediate reduction gear, it also provides superbly quiet performance.
• VC (Vibration Compensation)
  Tamron’s VC mechanism employs a three-coil system, whereby three driving coils activate the shake-compensating VC lens group electromagnetically via three steel balls. The VC lens elements are held in place only by contact with the steel balls, achieving smooth movement with little friction. This provides a stable viewfinder image with excellent tracking performance that eliminates the blur from handheld shots for cleaner, crisper shots.
• About the new VC mechanism (moving coil system)
  Tamron’s conventional VC (Vibration Compensation) unit has a moving magnet system with heavy magnets in the vibration-compensating lens. However, the new VC mechanism adopts a lightweight moving coil system that reduces the load on the drive system. This allows the drive to be operated with smaller coils and magnets, reducing the weight and size for the entire VC unit. In addition, improvements to software and other elements of the VC mechanism used in the 18-200mm Di III VC have made the mechanism even quieter

Tamron 18-200mm F/3.5-6.3 Di III VC Specifications

• *1. Length is the distance between the mount face and the tip of the lens.
• *2. Entire length is the distance between the tip of the lens and the tip of the protrusion.

*The angle of view is calculated based on the latest image sensor size of Sony’s NEX series.

*The angle of view of the lens when used for video on the Sony digital HD video camera recorder
NEX-VG10 is 32.4 – 360mm when converted to the 35mm format.

a NOTE: When using Continuous AF (AF-C) Mode

-Due to an inherent characteristic of this TAMRON lens, when using the Sports Action mode on Scene Selection, the continuous operation of the focus search function may cause some fluctuation in the LCD monitor image. However, there will be no associated problems on photos taken in this situation.

-In other Shoot Modes (P, A, S, M), when the focus mode is set to Continuous AF (AF-C), the same condition may also arise. There will also be no associated problems on photos taken in this situation.

*As an alternative to either of the above settings, you can change the focus mode to Single-shot AF (AF-S) or Direct Manual Focus (DMF) and continue shooting.

Simon: I’ve spent the last few weeks using the 18-270mm mounted on a Canon EOS 7D as my main walkaround camera, and – on the few sunny days we’ve had here in Seattle – captured around a thousand exposures. In use this versatile lens is impressive: focus is snappy and is almost completely silent, you can get surprisingly close, and the image stabilization helps keep things sharp at the long end. Although at a pixel level the results betray the optical compromises involved, I see little to complain about at normal viewing magnifications (something you can hopefully judge for yourself using this gallery of raw converted images). More importantly, the value of a single, small and light lens covering such a huge range more than makes up for the slighty fussy bokeh, visible CA, and distortion at the wide end.

Announcing the development of a full size premium telephoto zoom – the Tamron Superior Performance SP 70-300mm F/4-5.6 Di VC USD (Model A005) for Nikon mount.

March 9, 2010, Saitama, Japan – President and CEO Morio Ono of optical equipment manufacturer Tamron Co., Ltd., announced another advance in their pursuit of high resolution images in the telephoto lens category with the development of a 70-300mm F/4-5.6 telephoto zoom lens featuring image stabilization––VC (Vibration Compensation) and an ultrasonic auto-focus drive –– USD (Ultrasonic Silent Drive). The SP 70-300mm F4-5.6 Di VC USD (Model A005) high-resolution DSLR telephoto zoom lens has been produced for the Nikon mount, with the development of compatible mounts for Canon and Sony to follow*3.

While this new lens is designed for digital SLR cameras, it can be used with both full-frame sensor and AF 35mm cameras with a zoom range of 70-300mm; or with APS-C sensor cameras where the angle of view will change the zoom range equal to 109-465mm*4.

With superior optical performance, Tamron’s own USD (Ultrasonic Silent Drive) and VC (Vibration Compensation), the SP 70-300mm F4-5.6 Di VC USD (Model A005) provides the performance of a high-end premium telephoto zoom that is appealing to a broad spectrum of photography enthusiasts.

Unparalleled optical performance in a fast and steady telephoto zoom lens
In the pursuit to achieve the most outstanding image resolution in the 70-300mm class, Tamron’s Anniversary lens – the SP AF70-300mm F4-5.6 Di VC USD (Model A005) – utilizes an advanced optical design that features a LD (Low Dispersion) and an XLD (Extra Low Dispersion) lens element made from specialized materials that prevent chromatic aberration. As a result, the SP AF70-300mm F4-5.6 Di VC USD (Model A005) boasts sharper contrast and greater descriptive performance than all others in its class.

In addition, it is the first Tamron lens sporting a USD (Ultrasonic Silent Drive), Tamron’s very own ultrasonic auto-focus drive mechanism. This USD mechanism delivers fast focusing, making it a perfect telephoto zoom choice for photographing sports, racing, or other fast-moving subjects. The lens also boasts Tamron’s proprietary VC (Vibration Compensation) image stabilization to assist in hand-held photography, not only at long focal length ranges where blurring is common, but also under low-lit conditions, dramatically enhancing photographic freedom.

This combination of best in class image resolution, Ultrasonic Silent Drive and Vibration Compensation is a new achievement of Tamron technology, culminating in the production of a premium 70-300mm telephoto zoom lens.

Product Features
New optical system optimized for digital cameras achieves top resolution in the 70-300mm class with specialized glass elements including an XLD (Extra Low Dispersion) lens
This lens’ advanced optical design employs a sophisticated XLD (Extra Low Dispersion) lens element made from specialized high-grade glass that has lower dispersive properties than standard LD lenses (where refraction causes the dispersion of white light into spectral hues). The dispersive properties of the XLD lens are at a level similar to fluorite, and in combination with a LD element make for an optimal optical design that delivers best in class resolution with advanced axial chromatic and magnification aberration correction – major inhibitors of image quality enhancement. The result is a lens that delivers sharp contrast and better descriptive performance throughout the entire zoom range.

Fast focusing USD (Ultrasonic Silent Drive), the ultrasonic autofocus drive
The lens is equipped with Tamron’s first-ever ultrasonic auto-focus drive USD (Ultrasonic Silent Drive). It achieves faster focusing making this telephoto lens perfect for photography of sports, motor racing, and other fast-moving subjects. With advanced motor technology and newly developed software, Tamron’s USD delivers precise and noiseless focusing at turbo speed.

USD (Ultrasonic Silent Drive)
Tamron’s USD works with the high-frequency ultrasonic vibrations that are produced by a ring called a ‘stator’. Energy from the vibrations is used to rotate an attached metallic ring known as the ‘rotor’. Piezoelectric ceramic, an element that produces ultrasonic vibrations when voltage of a specific frequency is applied is arranged in a ring formation on the stator. This electrode configuration of piezoelectric ceramic causes two ultrasonic vibrations to occur in the stator.

By effectively combining these two ultrasonic vibrations, it is possible to convert the energy from the vibrations that produced simple motion into energy known as ‘deflective traveling waves’, which then moves around the circumference (rotation direction) of the ring.

With the USD, the friction between these deflective traveling waves created on the metallic surface of the stator and the surface of the rotor produce force, causing the rotor to rotate. The focusing ring lens, which is linked to the rotor, is thus moved, creating a fast and smooth auto-focus drive.

Equipped with Tamron’s VC (Vibration Compensation) image stabilization
The SP 70-300mm F4-5.6 Di VC USD employs Tamron’s esteemed image stabilization mechanism–VC (Vibration Compensation) seen in both the AF18-270mm Di II VC (Model B003) and SP AF17-50mm F/2.8 XR Di II VC (Model B005). With VC, the photographer has the freedom to shoot at a shutter speed that is an extra four stops slower without having to worry about blurring. This makes capturing handheld, evening, night, and interior shots much easier.

VC (Vibration Compensation)
Tamron’s VC mechanism employs a three-coil system, whereby three driving coils activate the shake-compensating VC lens group electromagnetically via three steel balls. The VC lens elements are held in place only by contact with the steel balls, achieving smooth movement with little friction. This provides a stable viewfinder image with excellent tracking performance that eliminates the blur from camera shake for cleaner, crisper shots.

Full time manual focus at your fingertips
Auto-focus has many benefits but sometimes the photographer needs the control of manual focus. Full time manual offers just that: the crossover from auto-focus to manual focus by simply adjusting the focus ring, allowing the photographer to make adjustments on the fly. This feature helps the lens produce impressive results even in telephoto situations where the depth of field is narrow.

Better balance and consistent length with internal focusing
When focusing, the internal elements of the lens move and the lens’ external size does not change. This offers better balance and easier telephoto shots. Moreover, the barrel is not subject to stray light entering from external helicoids that can negatively affect images. And because the external elements do not move, it makes it easier to utilize polarizing filters and the flower shape hood to control the amount of light that enters the lens.

Enjoyable photography for a wide range of enthusiasts, from those using traditional film cameras, to digital SLRs with full-frame or APS-C size sensors
With a full-frame digital or 35mm SLR, portrait and medium telephoto shots can be achieved on the wider 70mm end of the range and spectacular telephoto shots at the longer 300mm side. When using an ASP-C sensor camera the angle of view changes, giving it the equivalent range of 109-465mm for bold ultra-telephoto shots. And with a maximum magnification ratio 1:4, the lens can be used to explore in the realm of semi-macro photography.

Uncompromising countermeasures to reduce ghosting and flare
Digital photography requires extreme precision, which is why Tamron incorporates new BBAR (Broad-Band Anti Reflection) multilayer coatings that reduce reflection into the lens elements. This ensures excellent performance in all photographic conditions and enhances light transmission on both long and short wavelengths. Also, Tamron applies internal surface coatings on cemented surfaces of lens elements to make images sharper with better color reproduction and balance.

Simple yet beautiful exterior design

Tamron adopted a simple design with a smooth silhouette to ensure that this lens fits well with various SLR cameras. The exquisite textured paint gives a well-crafted finish to the exterior.

Flower-shaped hood with excellent stray light shielding properties–a standard accessory
The flower-shaped hood has been designed specifically to block out damaging light rays and ensures clear, sharp descriptive performance.

*1 XLD-Extra Low Dispersion lens is made from specialized high-grade glass that has lower dispersive properties than standard LD lenses.
*2 USD-Ultrasonic Silent Drive is Tamron’s proprietary ultrasonic motor drive.
*3 The Sony mount is not equipped with the VC image stabilization mechanism, as anti-shake functionality is included in the body of Sony digital SLR cameras. Consequently, the name of the Sony mounted lens, SP 70-300mm F/4-5.6 Di USD, does not include the VC description.
*4 Tamron’s conversion 1.55x

Tamron 70-300mm F/4-5.6 specifications

Press Release:

TAMRON LAUNCHES FAST SP AF17-50MM WITH
VIBRATION COMPENSATION FOR NIKON DX-FORMAT DSLRS

September 1, 2009, Saitama, Japan— Tamron Co., Ltd. announced the release of the SP AF17-50mm F/2.8 XR Di II (*1) VC LD Aspherical [IF] (Model B005NII), a high speed f/2.8 wide-to-moderate-telephoto zoom lens designed exclusively for Nikon-mount digital SLR cameras with smaller sensors. Featuring Tamron’s proprietary tri-axial Vibration Compensation (VC) mechanism that minimizes the effects of handheld camera shake, the lens will be available starting on September 17, 2009 in Japan. Tamron plans to introduce the lens in a Canon mount version shortly after the new Nikon mount version with built-in motor hits the market.

The new SP 17-50mm F/2.8 XR Di II VC covers the very popular 17-50mm focal length range (equivalent to 26-78mm in the full-frame 35mm format*2) making it extremely versatile. Its wide aperture and outstanding performance provide practical advantages in low-light shooting and aesthetic image control, thereby enriching the user’s range of creative expression. The new lens delivers impressive sharpness and striking contrast over its entire focal-length and aperture range, and at its maximum aperture of f/2.8 it produces beautiful images enhanced by shallow depth of-field, and smooth, natural transitions in out-of-focus areas of the image (i.e. excellent bokeh.) The new lens is equipped with Tamron’s proprietary Vibration Compensation (VC) image stabilization mechanism, which controls the effects of camera shake in three planes. VC provides more opportunities for sharp hand-held photography at the slow shutter speeds needed when shooting in low-light conditions (e.g. night or indoor scenes) dramatically enhancing the user’s level of photographic freedom.

MISSION ACCOMPLISHED
The previously announced, still currently available Tamron SP 17-50mm F/2.8 XR Di II (Model A16) boasts superlative optical performance for a fast standard zoom lens and has been acclaimed world-wide as a masterpiece of compact optical design. In developing the new Tamron SP 17-50mm F/2.8 XR Di II VC zoom, the primary goal was to maintain this incredible compactness and ease-of-use while simultaneously enhancing its convenience and expanding its performance envelope. As a result of concerted efforts, the engineers were able to incorporate Tamron’s proprietary state-of-the-art Vibration Compensation (VC) image stabilization mechanism into the new lens without materially increasing its size and weight. As a result of this success, the SP 17-50mm F/2.8 XR Di II VC makes sharp hand-held photography possible under a vastly expanded range of photographic situations.

VC (VIBRATION COMPENSATION)
The Tamron Vibration Compensation mechanism employs a three-coil system in which three driving coils move internal optical components within the VC lens electromagnetically, based on signals originating from three steel ball bearings. Since the VC compensating lens elements are held in place solely by contact with these bearings, smooth, virtually frictionless movement is assured, providing the stabilized viewfinder images and excellent tracking performance characteristic of VC lenses. Moreover, since the VC lens elements move parallel to the image plane via electronic control alone, the mechanical structure is simplified, and the lens is more compact.

Features

Tamron’s proprietary VC (Vibration Compensation) image stabilization mechanism
Equipping a fast standard zoom with the advanced VC mechanism enables extended hand-held shooting possibilities along with enhanced versatility. It allows the full range of photographic expression, all the way from maximizing the expressive background-blurring effects by shooting at the maximum aperture of f/2.8, to fixed focus photography at the smallest apertures using extended depth of field.

Compact size with a filter thread of Ø72mm, while delivering both a large F/2.8 diameter and VC
While the size of a lens tends to increase when it’s equipped with an image stabilizer unit, Tamron has kept this lens as compact as possible through improvements to optical, mechanical and VC designs, thus achieving a remarkably compact size with a filter thread of 72mm.
Since the new Tamron 17-50mm VC lens is a large diameter f/2.8 zoom, the optical image stabilization system is also relatively large compared with previous VC lenses. To achieve the same anti-shake effect as the renowned VC mechanism incorporated into Tamron’s high power zoom lenses— models B003 and A20— the engineers had to enhance the VC unit itself, the mechanism that controls the optical image stabilization system. This initially led to an increase in size compared with existing lenses. It was therefore necessary to reduce the size of the VC unit while at the same time increasing its torque of driving power. This could only be achieved by bringing to all of Tamron’s advanced engineering capabilities that had enabled is to produce high-power zoom lenses and light, compact, high-speed standard zooms. After a prolonged program of development entailing exhaustive research and tireless testing, Tamron’s engineers finally achieved their goal, a fast, compact zoom lens with a filter thread of 72mm incorporating both a large f/2.8 maximum aperture and an effective Vibration Compensation mechanism.

This stunning achievement entailed innovations in both manufacturing technology and production engineering, including improvements to the precision, weight, and strength of the lens’ components. The result: The Tamron SP AF17-50mm F/2.8 XR Di II VC, an extraordinarily complex lens to manufacture but a joy to use.

The optical system, optimized for the characteristics of digital cameras, uses special glass for multiple elements, to enhance optical quality while maintaining compactness
With its innovative use of XR (Extra Refractive Index) glass, Tamron has optimized the overall optical power distribution and reduced the size of the lens, while at the same time implementing advanced correction of optical aberrations. In addition, the optimized positioning of three compound aspheric elements has enabled further shortening and compression of the entire optical system while maintaining outstanding imaging performance. Two LD (low dispersion) lens elements are also employed to make effective corrections for axial chromatic aberrations and chromatic aberrations due to magnification, a major factor in enhancing optical quality in digital photography. The result: excellent image performance throughout the zoom range.

• Optimizing the angle of light rays striking the image sensor
  To reduce the impact of changes in aberrations due to zooming, the optical design adopted for this lens was developed to literally guide the angles of rays of light entering from the center to the periphery of the lens. This ensures that the light rays fall within a set range on the image sensor, enhancing image quality.
• Reduced fall-off of peripheral brightness
  The fall-off in peripheral brightness that limits resolution in wide-angle shooting is very well controlled, resulting in excellent image detail from the center to the outer edges and corners of the image field.
• Superior resolution
  The fall-off in peripheral brightness that limits resolution in wide-angle shooting is very well controlled, resulting in excellent image detail from the center to the outer edges and corners of the image field.
• As an SP Di II class lens, this lens delivers top imaging performance in all key parameters–high resolution, high contrast, and excellent detail rendition.
• Uncompromising countermeasures to reduce ghosting and flare
  The latest BBAR (Broad-Band Anti-Reflection) multi-layer coatings are used to reduce reflection from the lens, ensuring excellent performance in all photographic conditions. The coatings enhance light transmission in both the short wavelength and long wavelength ranges. In addition, internal surface coatings (coatings on cemented surfaces of lens elements) have been applied to all cemented surfaces, for sharpness, optimum color reproduction performance and excellent color balance.

Minimum focus distance of 11.4″ (0.29m) across the zoom range, with macro capability of 1:4.8
Even with its VC image stabilization optical system this lens delivers a minimum focus distance of 11.4″ over the entire zoom range, enabling stress-free close-up photography. The maximum magnification ratio at 50mm is 1:4.8(*3).

Simple, beautiful exterior design
A simple, classic design with a smooth silhouette has been adopted to ensure that this lens combines well with various SLR cameras. The highest quality textured paint has been used to give a superb finish to the exterior.

Zoom lock mechanism, useful when carrying the lens/camera over your shoulder
The lens includes Tamron’s zoom lock mechanism to prevent the lens barrel from extending by its own weight when lens is being carried on the camera pointing downward.

Flower-shaped hood with excellent stray light shielding properties supplied as standard accessory=
The flower-shaped hood is ideally matched to the frame of the viewfinder screen to effectively block damaging light rays coming in from outside the borders of the image area, ensuring clear, sharp flare-free performance. The hood is provided as a standard accessory

*1 Di II (Digitally integrated design) lenses are designed exclusively for use with digital SLR cameras (equivalent to APS-C size), and employ an optical system optimized for the characteristics of those cameras. Di II lenses are not designed for use with digital SLR cameras with image sensors larger than APS-C size or 35 mm film SLR cameras.

*2 Tamron’s conversion value is 1.55 x

*3 This lens enables photography of virtually the same range as that when using a lens with a maximum magnification ratio of 1:3.1 on a full frame format camera, as APS-C size image sensors are smaller than 35mm film.

Tamron SP 17-50mm F/2.8 XR Di II VC specifications

Press Release:

Tamron Develops SP AF60mm F/2.0 Di II MACRO 1:1

Life-size macro lens designed exclusively for digital SLR cameras with APS-C size image sensors* that features a fast maximum aperture of F/2

Cologne, March 24th, 2009 - Tamron Co., Ltd, a comprehensive manufacturer of optical products with its head office in Saitama City, announced the development of the SP AF60mm F/2.0 Di II LD (IF) MACRO 1:1 (Model G005), a life-size macro lens designed exclusively for digital SLR cameras with APS-C size image sensors** that offers a fast maximum aperture of F/2.0.

The SP AF60mm F/2.0 Di II LD (IF) MACRO 1:1 (Model G005), covering an equivalent angle of view of 93mm when converted to the 35mm format*** and boasting a maximum aperture of F/2.0—one stop faster than the F/2.8 maximum aperture found on conventional macro lenses in the same class—is a fast life-size macro lens that delivers dramatically attractive blurred background effects.  

The new life-size macro lens from Tamron is expected to be made available in mounts for Canon, Nikon (with built-in AF motor) and Sony. Price and launch dates will be announced at a later date.

Development Concept
Tamron’s macro lenses (SP AF90mm F/2.8 Di MACRO 1:1 (Model 272E), SP AF180mm F/3.5 Di MACRO 1:1 (Model B01) are world renowned for their outstanding optical performance.  Particularly, the Tamron SP AF90mm macro lens first introduced in 1979 and subsequently upgraded and renewed seven times since has been highly evaluated by many photographers as a lens that delivers not only attractive out-of-focus effects and sharp descriptive performance in macro photography with its easy-to-use focal length, but also as a lens ideal for portraiture.

Amid the growing popularity of APS-C size DSLRs, Tamron recognizes that there are many photographers who wish to enjoy macro photography with a focal length that provides an angle of view equivalent to 90mm.

Tamron therefore developed the SP AF60mm medium telephoto macro lens to meet the desire of those users and goes a step further by providing the extremely fast and desirable maximum aperture of F/2.0. The SP AF60mm is a high performance and versatile lens that is suitable not only for macro photography of textiles, small creatures, flora and more, but also for portraiture by making good use of its easy-to-use focal length, fast maximum aperture and high optical quality even in low-lit conditions.

Optical Features

Medium telephoto 1:1 life-size macro lens featuring a fast maximum aperture of F/2.0 that strikes a fine balance between attractive out-of-focus effects and sharpness
The SP AF60mm is a medium telephoto macro lens designed for APS-C size digital SLR cameras that realizes the fast maximum aperture of F/2.0 for the first time in the world****. Using an optical design approach that attaches methodical importance to optical quality, Tamron’s optical designers have successfully controlled complex movements of respective lens groups in order to restrain the increase in aberration changes due to the fast maximum aperture, thus achieving outstanding depictive performance that is uniformly sharp from the center to the periphery.

Since the maximum aperture of F/2.0 provides a depth-of-field that is shallower than that of conventional F/2.8 lenses, the new lens enables the user to expand the range of the macro photographic expression. The SP AF60mm developed by combining Tamron’s accumulated macro lens design know-how is an attractive lens that maintains a well-balanced relationship between sharp image performance and beautiful out-of-focus background effects.

Employment of special low-dispersion glass elements
The lens employs two large LD (low dispersion) glass elements in its first group to thoroughly compensate for various aberrations and attain high optical quality.

Working distance of 100mm, the longest distance among lenses in this class*****
Tamron has realized the long working distance of 100mm from the front element of the lens to the subject in 1:1 life-size macro photography. The long working distance allows the user to take macro shots while maintaining a sufficient distance from such subjects like timid insects that are likely to escape if you move in too close. Also, with this longer working distance, you can prevent capturing the shadow of the lens barrel as is often the case with conventional macro lenses with insufficient working distances.

Meticulous countermeasures against ghosting and flare
Tamron employed new BBAR (Broad-Band Anti-Reflection) multi-layer coatings in order to ensure optimum performance in all photographic situations. The new BBAR coatings  enhances the light transmission factors in both the short and long wavelength ranges, a condition that was thought incompatible with conventional anti-reflection coating technology. In addition, Tamron employs internal surface coatings (coatings on cemented surfaces of lens elements) for sharpness, high color reproduction performance and superior color balance.

Mechanical Features

Lightweight and compact macro lens boasts F/2.0 fast maximum aperture
In order to prevent the lens from becoming bulky due to the fast F/2.0 maximum aperture, Tamron’s mechanical engineers thoroughly reviewed the internal constructions of conventional macro lenses and improved the accuracy of precision components by combining Tamron’s accumulated mechanical engineering techniques. Through the employment of precision injection-molded engineering plastic parts with high reliability, Tamron realized a compact body that measures only 73mm ( 2.9in.) in its maximum diameter and weighs a mere 400g (14.1oz.).

Internal focusing system for enhanced ease of use
The lens employs an internal focusing (IF) system without changing the overall length of the lens due to focusing. Since the front group of the lens does not extend, the lens is particularly easy to use in close focusing ranges. Tamron has realized the working distance of 100mm, the longest distance among lenses in this class******. The internal focusing system combined with new optical solutions to realize this longer working distance allows the user to enjoy macro photography comfortably while maintaining an adequate distance from subjects.

Full-time manual control mechanism
Delicate focusing control is essential in macro photography. The lens incorporates a full-time manual control mechanism that enables the user to manually adjust focus without engaging the AF/MF switch-over button, even when in the auto-focus mode. In addition, the lens employs a large focus control ring to ensure a solid grip and precise control when manually focusing.

Simple and attractive outer design
The lens employs a new outer design that is more refined and smoother in its overall contours by minimizing concavity, convexity and variations in its profile to match various digital SLR cameras. The lens barrel features a delicate matte finish, which enhances the high quality appearance of the lens.

*Tamron’s conversion value is 1.55X.
** Di II lenses are designed exclusively for use with digital SLR cameras equipped with APS-C size image sensors and employ an optical system optimized for the characteristics of those digital cameras. Di II lenses are not designed for use with 35mm film cameras or digital SLR cameras with image sensors larger than 24 x 16mm.
*** The special note “APS-C size equivalent” is hereinafter omitted.
****As of February 1, 2009, according to our research of 50-60mm life-size macro lenses
*****As of February 1, 2009, according to our research of 50-60mm life-size macro lenses
******As of February 1, 2009, according to our research of 50-60mm life-size macro lenses

Tamron SP AF60mm F/2.0 Di II MACRO 1:1 specifications

Press Release:

TAMRON announces the development of the AF18-270MM Di II VC ULTRA HIGH POWER ZOOM LENS

A Technological Breakthrough—World’s Longest Range 15X Zoom Lens Has Exclusive Built-In Vibration Compensation Mechanism Optimized for Consumer Digital SLR Cameras

July 30, 2008, Saitama City, Japan — Tamron Co., Ltd., under the leadership of Mr. Morio Ono, President, has announced the development of a unique ultra high power zoom lens—the Tamron AF18-270mm F/3.5-6.3 Di II VC LD Aspherical (IF) MACRO (Model B003), the first¹ digital SLR lens in the world that delivers a remarkable zoom ratio of 15X (28-419mm equivalent) and is equipped with a highly effective Vibration Compensation (VC) mechanism. Designed exclusively for digital SLR cameras with APS-C sized image sensors², the new lens delivers outstanding image quality over its entire zoom range and its exclusive VC anti-shake system facilitates sharp handheld photography even at the longest telephoto settings.

With its vast zoom-range, the Tamron AF18-270mm F/3.5-6.3 Di II VC lens enables the user to cover virtually any photographic subject from wide angle to ultra telephoto simply by turning the zoom control. It covers angles of view equivalent to 28mm to 419mm when converted to the 35mm format³. In addition, this breakthrough lens is equipped with Tamron’s exclusive, proprietary tri-axial Vibration Compensation (VC) mechanism that eliminates or substantially reduces the effects of handheld camera shake. As a result, the user can enjoy the convenience of handheld photography in virtually any situation, from shooting candid images, to covering sporting events, to news photography, without worrying about camera shake having an adverse effect on image quality. The new lens will be made available in Canon and Nikon mounts. The price and launch date of the new lens will be announced at a later date.

DEVELOPMENT BACKGROUND

Since launching the Tamron AF28-200mm F/3.8-5.6 (Model 71D) in 1992 that was highly acclaimed as the first high power zoom lens suitable for practical use, Tamron has continued to develop innovative zoom lenses as the “pioneer in high power zoom lenses”. With the AF18-200mm F/3.5-6.3 XI Di II (Model A14), Tamron realized an 11.1X zoom power for the first time in a zoom lens exclusively designed for digital SLR cameras and expanded the telephoto range further to 13.9X with the AF18-250mm F/3.5-6.3 Di II (Model A18), making steady progress in extending the range of high performance, high power zoom lenses.

Tamron’s engineers faced the even more formidable challenge of finding solutions for the problem of “handheld camera shake” while expanding the telephoto range even further and have eventually developed the AF18-270mm F/3.5-6.3 Di II VC. This lens has attained the maximum zoom power of 15X for the first time in the world, namely as a zoom lens exclusively designed for digital SLR cameras. It enables the user to cover an extremely wide angle-of-view range equivalent to a 28mm-419mm lens in the 35mm format. In addition, the lens is equipped with Tamron’s original and exclusive VC mechanism that effectively compensates for “handheld shake”, which would otherwise become visible as un-sharpness or blur in images shot handheld. Moreover this system is effective over the extremely wide focal length range of this extended ultra telephoto lens and Tamron’s VC mechanism provides maximum compensation performance at all focal lengths. The VC system enables the user to enjoy the full benefits of ultra-tele photography comfortably and provides amazingly stabilized viewfinder images as well. In short, this unique VC image stabilization system delivers the maximum potential built into the world’s longest-ratio zoom lens—15X.

Tamron was able achieve all these remarkable accomplishments thanks to its advanced optical/mechanical design technologies and production know-how accumulated over 16 years as the pioneer in high power zoom lens design, and its commitment to ongoing research and development. Even more important, in combining an amazingly high zoom ratio along with the VC function Tamron has maintained a high priority on its traditional goals of lightness and compactness. As a result the new Tamron AF18-270mm Di II VC delivers all the functionality and performance you expect from the latest Tamron ultra high power zoom, a lens that exemplifies our time-honored concept of “One great lens covering everything from wide angle to telephoto”. 

MAIN FEATURES

1. World’s first and greatest zoom ratio of 15X, covering 28-419mm 35mm-equivalent angle of view
Going back to the basic concept of “one lens covering everything from wide angle to telephoto,” engineers at Tamron took up the difficult task of expanding the zoom range of Tamron’s high power zoom lenses even further. Their unstinting efforts to extend the telephoto end beyond previous limits while retaining the wide-angle end at 18mm has borne fruit as an ultra high power zoom lens that is exclusively designed for DSLR cameras and boasts the greatest zoom range of 15X for the first time in the world.

2. Tamron’s original VC mechanism for effective shake-free hand-held photography
Tamron’s proprietary VC (Vibration Compensation) mechanism was built in the AF28-300mm F/3.5-6.3 Di VC (Model A20) for the first time. It demonstrated its powerful compensation effect employing a tri-axial system that is designed to let three coils drive a compensator lens electromagnetically via three steel balls. Since the compensator lens is supported on rolling steel balls with very low friction, follow-up performance is also enhanced, resulting in stabilized viewfinder images. Since the mechanism is designed to allow parallel shifting of the compensator lens solely by means of electrical control, the mechanical construction is simpler and more compact, so the lens can be kept as small and light as possible.

3. Designing a high power, compact zoom lens with VC mechanism: Optical design optimization meets optimum power distribution
In developing the long-range zoom lens, Tamron’s optical designers pursued the optimum distribution of power within the overall optical system based on the optical design know-how Tamron accumulated over 16 years since the introduction of the first compact AF28-200mm in 1992. The resulting optical system uses two LD (Low Dispersion) glass elements and three aspherical elements in order to effectively compensate for various aberrations including astigmatism, yet this design allows the first optical group to be small enough in diameter to realize the overall goal of a compact lens that incorporates a handheld-shake compensation mechanism.

Note: In order to realize the high zoom ratio of 15X, the optical system does not use any XR (extra dispersion glass) element. Instead, compactness is achieved through optimization of the power distribution within the whole optical system.

4. Minimum focusing distance of 19.3” over the entire zoom range for the max. mag. ratio of 1:3.5
The AF18-270mm Di II VC allows close focusing down to 0.49m (19.3 inches) from the subject over the entire zoom range even though it incorporates the VC mechanism. The maximum magnification ratio of 1:3.5⁴ at its 270mm telephoto end is the top class capability among high power zoom lenses exclusively designed for digital SLR cameras.

5. Optical system optimized for digital SLR cameras by taking incident rays of light reaching the image sensor into consideration
In order to effectively compensate for changes in aberrations due to zooming, the zoom lens employs an innovative optical system that is designed to converge the angles of rays of light entering from the center to the periphery of the lens. The light rays thus reach the image sensor within a defined circle that assures high imaging performance and reduces light falloff.

6. High resolution performance
As a lens exclusively designed for digital SLR cameras, this zoom lens delivers high resolution and contrast performance for outstanding image quality with sufficient flatness of the field under an extremely wide range of photographic conditions.

7. Thorough countermeasures, including advanced internal surface coatings, prevent ghosting and flare
Tamron employs multi-layer coatings in order to reduce reflections on lens surfaces as well as internal surface coatings (coatings on the cemented surfaces of lens elements) in order to minimize reflections from the sensor itself within the mirror box, a problem inherent to all digital SLR cameras.

8. The world’s first and greatest zoom power of 15X plus built-in VC mechanism achieved along with a remarkably slim maximum diameter of less than 80mmDesigning a lens with the world’s first and greatest zoom ratio of 15X inevitably entailed a larger travel distance of the components within the optical systems, but Tamron has successfully accommodated the optical system as well as the special VC mechanism in a remarkably compact and slim package by employing mechanical design technology accumulated over many years. The result: A slim design measuring less than 80mm in diameter despite the fact that it is an ultra high power zoom lens that incorporates a VC mechanism. Production engineering this unique zoom lens meant incorporating complex optical/mechanical components, and Tamron’s engineers had to employ innovative manufacturing techniques including methods of further enhancing accuracy, reducing weight, and increasing the strength of many components.

Note: In order to achieve the world’s first and greatest zoom ratio of 15X, metal mounts are used in both Canon- and Nikon-mount lenses.

9. Zoom lock mechanism for convenience in carrying the outfit
The lens has a built-in zoom lock mechanism to prevent its barrel from sliding forward when the lens is being carried on the camera.

10. Flower-shaped lens hood as a standard accessory
The lens is supplied with a flower-shaped lens hood as a standard accessory. It is designed to efficiently cut harmful light entering at angles other than intended angles at all four corners of the frame. This ensures clear, flare-free images.

11. New outer design matches the newest generation high power zoom lens in the digital era

• The lens employs a new outer design that is more refined and smoother in its overall contours by minimizing concavity, convexity, and variations in profile in order to match the latest digital SLR cameras.
• A gold-colored metal ring is placed at a key portion of the lens as used in other Di II lenses. The “TAMRON” logo placed in the center portion of the lens enhances visibility of the brand while refining the overall design.
• Delicate matte finish is added to the black painting over the lens barrel in order to enhance the high quality appearance of the lens.
• The textured rubber pattern of the zoom and focus control rings has been improved again to a more pronounced, easy to grasp design than the conventional rubber pattern, for better feel and touch in manipulating the lens.

1 “The world’s longest zoom range” and “world’s first” are statements that apply to interchangeable lens exclusively designed for digital SLR cameras equipped with APS-C sized image sensors, as of June 2008, according to Tamron’s survey.

2 Di (Digitally integrated) II lenses employ optical systems designed for exclusive use on digital SLR cameras equipped with smaller sized (APS-C sized) image sensors. Di II lenses are not designed for use with 35mm film cameras or digital SLR cameras with image sensors larger than 24mm x 16mm. (This special note “APS-C sized image sensors” is hereinafter omitted.)

3 Tamron’s conversion value is 1.55X

4 A format covered by an APS-C sized image sensor is smaller than that of 35mm format film. Therefore, this lens is capable of filling the frame by capturing an area that is almost the same as an area covered by a lens designed for the 35mm format and providing the maximum magnification ratio of 1:2.3.

Tamron lens specifications

A lightweight, high-performance and fast tele-zoom realizing 0.95m (ft) MFD over the Entire Zoom Range

Mr. Morio Ono, President of Tamron Co., Ltd., has announced the launch of SP AF70-200mm F/2.8 Di LD (IF) MACRO, a lightweight, high-performance and fast tele-zoom lens designed for DSLR cameras with 35mm full-size image sensors.

The new SP AF70-200mm Di LD (IF) MACRO (Model AA001) is an F/2.8 fast tele-zoom designed for DSLRs with 35mm full-size image sensors, inheriting product concept of the existing SP AF28-75mm F/2.8 XR Di (Model A09) that is highly acclaimed as a compact and fast standard zoom lens enabling photographers to enjoy high cost　performance characteristics.

While dimensional increases are confined to the absolute minimum, the new SP AF70-200mm F/2.8 Di LD (IF) MACRO zoom lens offers the MFD (minimum focusing distance) of 0.95m over the entire zoom range for the maximum macro magnification ratio of 1:3.1 at f=200mm focal length, for stress-free photography, combined with the advantage of an internal focusing (IF) system.

It enables the user to cover a focal length range of 70mm medium telephoto to 200mm telephoto when mounted on a 35mm full-size DSLR camera and a focal length range from 109mm to 310mm equivalent* ultra telephoto (35mm equivalent, in an angle of view of 7°59’) when mounted on a DSLR camera equipped with an APS-C sized image sensor.
*Tamron’s conversion ratio is 1.55x.

Availability

Main features

1. 0.95m MFD over the Entire Zoom Range for 1:3.1 Maximum Magnification Ratio
   This zoom lens, designed for use with full-size format SLR cameras, boasts a fast maximum aperture of F/2.8, yet it allows close-focusing down to 0.95m over the entire zoom range. The maximum magnification ratio is 1:3.1 at the 200mm tele-end. The filter diameter is confined to φ77mm as a result of the use of an advanced optical design pursuing optimum optical power distribution.
2. Soft Out-of-Focus Effect and Sharp Depiction
   In order to realize soft out-of-focus effect and sharp depiction performance at the same time, the zoom lens uses three LD (low dispersion) elements. As a result, the optical system effectively compensates for lateral and on-axis chromatic aberrations that are major image-degrading factors in telephoto photography, in order to provide edge-to-edge sharpness and high-contrast image quality with flat-field characteristics over the entire zoom range in various photographic situations.
3. Lightweight, yet Fast F/2.8 Maximum Aperture
   The lens features a fast maximum aperture of F/2.8, yet it weighs a mere 1,112.6 grams (39.2oz.), since it uses barrel parts made of engineering plastic materials having excellent dimensional stability and sufficient strength for professional use and even industrial applications.
4. Internal Surface Coatings Minimize Ghosting and Flare
   Through the use of “Internal Surface Coatings (i.e., multiple-layer coatings on cemented surfaces of plural elements) and multiple-layer coatings to prevent reflections from lens surfaces, ghosting and flare due to reflections that occur when light enters through the front element as well as reflections caused by the imager itself in the mirror box are reduced to the absolute minimum.
5. One-Touch AF/MF Switchover Mechanisms (for Canon and Nikon only)
   The models for Nikon and Canon cameras are equipped with AF/MF switchover mechanisms to allow one-touch switchover from AF mode to MF mode or vice versa electronically and mechanically by simply sliding the button. (Sony and Pentax systems require AF/MF switchover operation on both the camera and lens.)
   Since the lens uses an IF (internal focusing) system, the focusing ring does not rotate during focusing, which ensures good holding balance at all times. In the MF mode, focusing is performed as easily and comfortably as with an MF lens. Since the overall length of the lens does not change due to zooming or focusing, it offers excellent operability and holding balance.
6. Detachable Tripod Grip Ring
   The lens is supplied with a lightweight and rigid aluminum removable tripod socket.
7. Flower-shaped Lens Hood
   A flower-shaped lens hood is included as a standard accessory. The special hood provides optimum shading of superfluous light rays that enter from the rectangular frame outside the image field.

Tamron SP AF 70-200mm F/2.8 Di LD (IF) Macro specifications

*The cosmetic design and specs are subject to change without notice.
*Values given are for Nikon AF-D cameras.

RCP Obama vs. Romney: Obama +2.4%; 7-day change: Obama +0.9%.

RCP Obama approval: 48.4%; 7-day change: +1.0%.

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Top stories

1) The Senate confirmed two nominees to the Fed’s Board of Governors. “The Senate on Thursday confirmed two nominees chosen by President Obama for the Federal Reserve Board of Governors, overcoming Republican objections and bringing the seven-member board to full strength for the first time since 2006, before the economic crisis. The Harvard economist Jeremy C. Stein and the investment banker and lawyer Jerome H. Powell were confirmed easily after a morning of debate. The vote for Mr. Stein was 70 to 24, and for Mr. Powell, 74 to 21. Neither has widely known views on the central policy questions facing the Fed: whether to take more action to reduce unemployment or whether the economy is already at risk of a dangerous acceleration of inflation. For months, Senator David Vitter, a Louisiana Republican and a member of the Banking Committee, held up the nominations.” John Cushman Jr. in The New York Times.

@philizzo: Senate only took six months to confirm two completely uncontroversial Fed nominees that represented both parties. Hooray?

@justinwolfers: I doubt anyone knows where Powell & Stein are on the hawk/dove spectrum. But both are smart & neither is doctrinaire, which is a good start.

2) The U.S. imposed tariffs on Chinese solar panels. “The United States on Thursday announced the imposition of antidumping tariffs of more than 31 percent on solar panels from China. The move by the Commerce Department is certain to infuriate Chinese officials already upset after recent bilateral frictions over Chinaas human rights policies and its increasingly confrontational approach toward American allies like the Philippines and Japan. The antidumping decision is among the biggest in American history, covering one of the largest and fastest-growing categories of imports from China, the worldas largest exporter. The department said the United States bought $3.1 billion worth of Chinese solar cells last year, giving China more than half the American market for the devices. Many solar panel installers in the United States have opposed tariffs on Chinese panels, contending that inexpensive imports have helped spur many homeowners and businesses to put solar panels on their rooftops.” Keith Bradsher and Diane Cardwell in The New York Times.

@drgrist: Let’s get this straight: we’re subsidizing coal-industry exports to China and taxing solar-power imports from China? That about right?

3) House Republicans want tax reform in 2013. “As part of a year-end budget deal, House Republicans are urging adoption of ‘fast-track procedures’ to force lawmakers to complete a sweeping overhaul of the U.S. tax code in 2013…’There is strong support to use the expiration of the [Bush tax cuts] as leverage to force action in 2013 on comprehensive tax reform,’ Camp told the Federal Policy Groupas annual tax seminar. ‘How? Simple: In addition to extending current low-tax policies originally enacted in 2001 and 2003, we should enact fast-track procedures to compel comprehensive tax reform next year.’ Camp said he is mulling what form those procedures might take. He and House Speaker John A. Boehner (R-Ohio), who endorsed the idea this week, made comparisons to the process by which lawmakers adopt trade agreements negotiated with other nations. Under that system, Congress has 90 days to reject or approve a pact in its entirety without amendment.” Lori Montgomery in The Washington Post.

4) The Postal Service will begin the first phase of its cost-cutting plan. “The United States Postal Service announced Thursday that it would begin consolidating 48 mail processing centers beginning in July, the first phase of a cost-cutting plan that is intended to save the agency nearly $1.2 billion a year as it tries to adjust to declining mail volume. The agency said it would consolidate an additional 92 processing centers in February, and 89 more in early 2014. In all, the Postal Service said it would close 229 processing centers — about half of the total — and it expects to save about $2.1 billion a year after the plan is fully carried out in 2014. About 5,000 workers will be immediately affected by the consolidations, the agency said, though it was unclear if they would be reassigned or given incentives to retire. About 13,000 employees will be affected once the first phase is completed by February. A total of 28,000 positions will be eliminated by 2014.” Ron Nixon in The New York Times.

5) Differing approaches to growth will dominate the G8 summit. “There are 4,169 miles between Berlin and Washington. But on economic policy, the two capitals sometimes appear to be on different planets…Chancellor Angela Merkel, her advisers and even much of the German opposition see Europeas problems in starkly different terms than the Obama administration does. Merkelas impulse — to fight debt at all costs to boost investor confidence — has been at the core of Europeas crisis response, because industrial powerhouse Germany has been calling the shots. But she has come under heavy criticism from Americans who say her efforts are misplaced. The differing approaches have gained renewed urgency as the crisis flares again in the euro zone, and Europeas response will probably dominate discussions Friday at the Group of Eight summit at Camp David.” Michael Birnbaum in The Washington Post.

Top op-eds

1) MANN AND ORNSTEIN: Our broken political system needs fixes that will work. “Gridlock and political dysfunction. Partisanship at record levels. Attack politics run amok…Weave all heard the laments — weave made some of them ourselves — that Washington is broken, that our political system canat grapple with the nationas big, long-term problems. So what can be done about it?…Restoring the filibuster to its traditional role of allowing an intense minority to temporarily hold up action in areas of great national moment — and away from its new use as a regular weapon for obstruction — should be a top priority. Senate rules should allow only one filibuster on any bill (now there can be two or more). Currently, the burden is on the majority to provide the 60 votes to break a filibuster; instead, the minority party should have to take the floor and hold it via debate, and provide the 41 votes needed to maintain the filibuster.” Thomas Mann and Norman Ornstein in The Washington Post.

2) KRUGMAN: The euro’s fate doesn’t look bright. “Suddenly, it has become easy to see how the euro — that grand, flawed experiment in monetary union without political union — could come apart at the seams. Weare not talking about a distant prospect, either. Things could fall apart with stunning speed, in a matter of months, not years. And the costs — both economic and, arguably even more important, political — could be huge. This doesnat have to happen; the euro (or at least most of it) could still be saved. But this will require that European leaders, especially in Germany and at the European Central Bank, start acting very differently from the way theyave acted these past few years. They need to stop moralizing and deal with reality; they need to stop temporizing and, for once, get ahead of the curve. I wish I could say that I was optimistic…All of us, then, have a big stake in European success — yet itas up to the Europeans themselves to deliver that success. The whole world is waiting to see whether theyare up to the task.” Paul Krugman in The New York Times.

3) WOLF: If Greece leaves the eurozone the results would be devastating. “The irritation of the eurozone with Greece is at extreme levels. After all, 80 per cent of Greeks say they are in favour of staying in the euro, but then they fail to elect politicians prepared to implement the agreed programme. This drives creditors crazy. Increasingly, the latter are inclined to accept Greek exit, even welcome it. But they should be careful what they wish for. A departure would create severe dangers. The danger of contagion is obvious. The long-run danger is more subtle. But the eurozone either is an irrevocable currency union or it is not. If countries in difficulty leave, it is not. It is then an exceptionally rigid fixed-currency system. That would have two dire results: people would not trust in its survival and the economic benefits of the single currency would largely disappear. These perils are not of concern to the eurozone alone…The risk that a bigger eurozone upheaval would cause a global crisis is real.” Martin Wolf in The Financial Times.

4) PEARLSTEIN: The choice is more complicated than austerity or growth. “Fiscal austerity or economic growth? Although itas not officially on the agenda, that question will dominate the discussions this weekend as political leaders of the worldas largest economies assemble at Camp David…The argument for belt-tightening austerity is that government debt in many countries has climbed so high that it threatens to create a vicious spiral: Higher interest rates beget recessions, which in turn lower government tax revenues and lead lenders to demand even higher interest rates. The inevitable result is default and depression…Where the problem comes in is that too much austerity imposed too quickly risks causing another, similar downward spiral. In this deflationary spiral, overly aggressive tax increases and budget cuts lead to sharp increases in unemployment and decreases in spending and investment, causing tax revenues to fall so much that budget deficits actually go up.” Steven Pearlstein in The Washington Post.

5) GAYER AND SWAGEL: Principal reductions won’t fix the housing market. “Edward DeMarco, the temporary director of the Federal Housing Finance Agency, continues to endure blistering criticism for refusing to allow Fannie Mae and Freddie Mac to pay for large-scale principal reductions for underwater borrowers (those who owe more than their homes are worth) or to facilitate refinancings for those stuck with high interest rate mortgages. The embattled regulator says he is merely trying to prevent Fannie and Freddie from adding to the more than $190 billion in losses that taxpayers have covered since September 2008…House Democrats have accused him of hiding data purportedly proving that principal reductions would save money and reduce foreclosures…Beating up DeMarco may prove cathartic for policy makers looking to assign blame for economic doldrums. The proposed remedy, however — having taxpayers pay for principal writedowns and mass refinancings — would do little to solve the nationas housing woes.” Ted Gayer and Phillip Swagel in Bloomberg.

Top long reads

Jim Tankersley on innovators and inequality: “‘Weave had it backward for the last 30 years,’ Hanauer said at the TED conference. ‘Rich businesspeople like me donat create jobs. Rather, they are a consequence of an ecosystemic feedback loop animated by middle-class consumers.’ When the middle class thrives, he said, ‘businesses grow and hire, and owners profit.’ Emerging research from high-powered experts across the ideological spectrum backs that economic inversion. Their work shows how Americaas long-term prosperity is in jeopardy because the middle class is struggling and the super-rich are pulling away…It is tempting to view the stagnation of the middle class and the disappearance of middle-skill jobs as a problem for only some of us. Thatas simply untrue. Mounting economic evidence suggests strongly that Hanaueras argument is correct and is, in fact, fundamental to Americaas future. Itas not a do-good argument. It is a selfish one, both for innovators and for every other American counting on the innovator class to power growth for decades to come.”

Baroque pop interlude: Rufus Wainwright plays “Out of the Game” live on WFUV.

Got tips, additions, or comments? E-mail me.

Still to come: Jobless claims didn’t move; negotiators need to decide on a drug tracking system; House Democrats want to make voting easier; it isn’t looking like Keystone XL will be in the highway bill; and a baby just wants to melt your heart by hugging every single goat.

Economy

The eurozone may be ready for a Greek exit. “It is increasingly conceivable that Greece may leave the euro zone, not just because of its own political dysfunction but also because the consequences of such an exit for the rest of the Europe and the global economy no longer seem quite so scary. The foot-dragging and brinkmanship of the last few years have won the other members of the currency union valuable time to prepare for life without Greece. Banks have recorded losses on Greek investments, companies are making contingency plans and Europe has bolstered rescue funds for other vulnerable nations like Portugal, Ireland and Spain. Those measures also have reduced the risks for the United States, making it less likely that a ‘Lehman moment’ will spread panic through global financial markets. American investment funds and banks have also sharply reduced their investments in Europe.” Binyamin Appelbaum in The New York Times.

Jobless claims held steady. “First-time claims for US unemployment insurance held steady at 370,000 last week, tempering some of the recent positive sentiment surrounding the jobs market. Initial claims for jobless benefits in the week ending May 12 remained unchanged from the previous weekas upwardly revised figure of 370,000, according to the US labour department. Claims in the week of May 5 had originally been reported at 367,000…The four-week moving average, which smooths out seasonal factors, stood at 375,000, a decrease of 4,750 from the previous weekas revised average of 379,750…The number of people who continued to receive jobless benefits rose by 18,000 in the week ended May 5 to 3.27m. Aside from last week they are at the lowest level since July 2008…The initial jobless claims data are a reflection of weekly firings and tend to fall as job growth picks up.” Anjli Raval in The Financial Times.

Jamie Dimon will testify before the Senate. “JP Morgan Chase CEO Jamie Dimon will be called to testify before the Senate Banking Committee in the coming weeks, the panelas chairman announced Thursday — and Dimon plans to accept. Sen. Tim Johnson (D-S.D.) said Dimon – whose firm has been under intense scrutiny after the billions of trading losses it sustained – will be invited to speak before his committee after it holds a pair of hearings on Wall Street oversight…Dimon will agree to appear before the panel, a company spokeswoman said…Johnson said his staff, as well as staffers for Sen. Richard Shelby (R-Ala.), the top Republican on the banking panel, have held briefings with regulators and with JPMorgan in the past week. No date was given for the hearing with Dimon. The two hearings that will be held before the CEOas appearance will be on May 22 and June 6 and will feature officials from the Securities and Exchange Commission, Commodity Futures Trading Commission, the Federal Reserve and other agencies.” Seung Min Kim in Politico.

The SEC is under fire for allowing settlements without admission of wrongdoing. “The Securities and Exchange Commission, which polices corporations, can usually count on support from Democrats and a rougher reception from Republicans. But, on Thursday, the agency found an issue on which its traditional friends are its critics and its traditional critics are its friends. At a House hearing, Republican lawmakers defended the agency against complaints that it lets wrongdoers off the hook too easily when it routinely allows them to settle charges without admitting wrongdoing. Democrats said they were worried that such settlements could send the wrong message, allowing corporations to treat SEC enforcement actions as just another cost of doing business. The issue has become a flash point in the debate over who is to blame for the financial crisis and whether the wrongdoers are being held accountable.” David Hilzenrath in The Washington Post.

Some GOP freshmen are bucking the ‘no new taxes’ pledge. “A small but increasingly vocal group of freshman Republicans are publicly rejecting the idea they are beholden to Grover Norquistas Americans for Tax Reform pledge for their entire congressional careers. One such member, Scott Rigell of Virginia, has openly rejected the pledge, explaining on his website that it would prevent Congress in some cases from eliminating corporate loopholes or government subsidies because those changes would have to be revenue-neutral. The math, he said, just doesnat make sense…The tax pledge has long been a litmus test for any conservative who wants to be taken seriously in a Republican primary. That some newcomers are repudiating it lends support to critics who argue the document is more valuable as a campaign tool than a guidepost for governing. Norquist insists heas not bothered by any hedging on the part of the freshmen…But the slip in devotion, however slight, is notable considering how strong a hold the pledge has had over the GOP.” Kate Nocera in Politico.

Two Senators are pushing a bill to tax the capital gains of expatriates. “Two Senate Democrats proposed a law Thursday to set a 30 percent capital gains tax rate for expatriates on all future investment gains in the wake of reports that Facebookas Eduardo Saverin renounced his American citizenship to skirt taxes on his IPO haul…The move means Saverin is subject to so-called exit taxes in the United States on some of the earlier value of his Facebook holdings, but it will be much less than he would have paid if he remained an American citizen once Facebook had gone public. If Schumer and Casey have their way, though, Saverin and others who have done similarly in the past wouldn’t escape so easily. The two Democrats unveiled a bill called the Ex-PATRIOT Act, or the ‘Expatriation Prevention by Abolishing Tax-Related Incentives for Offshore Tenancy’ Act…If it does pass, it would require Saverin and others who renounce citizenship to pay taxes at a 30 percent rate on any U.S. investment.” Tony Romm in Politico.

Legos are excellent interlude: How legos became art.

Health Care

The FDA user fee bill must resolve differences over a drug tracking system. “Perhaps the biggest piece of unsettled business in the massive Food and Drug Administration user fee bill is whether it will include a national system for tracking drugs — an effort to combat the menace of counterfeit medications. And the FDA and certain industry stakeholders were still working through key differences Thursday on what the system should look like, according to lobbyists familiar with the negotiations. That raises questions about whether theyall reach an agreement in time for the user fee legislation the Senate is expected to begin debating next week. If not, it could be added during the House and Senate conference. The Pharmaceutical Distribution Security Alliance, an industry group that includes most of the stakeholders, has put forward a proposal that would require manufacturers to give each lot of drugs an individual serial number. That number could be checked through the whole distribution system against a database to ensure authenticity.” Brett Norman in Politico.

Some conservatives are protesting the House GOP’s Obamacare replacement plan. “Thirty minutes. Thatas the roughly time it took for conservatives to jump all over Speaker John Boehner (R-Ohio) and his leadership team after the GOPas game plan for dealing with President Barack Obamaas health care law leaked to the media. Their gripe? Republicans would try to replicate popular parts of Obamaas health care law if the Supreme Court overturns the law this summer. Rather than sending out news releases or rushing to cable TV for a rant, conservatives blasted House Republican leadership on a private Google email group called The Repeal Coalition. The group is chock- full of think tank types, some Republican leadership staffers, health care policy staffers and conservative activists, according to sources in the group. The behind-the-scenes fight among Republicans richly illustrates why House GOP leadership is so cautious, sensitive and calculating when it comes to dealing with the conservative right.” Jake Sherman in Politico.

@sam_baker: How many times do we need to explain to the world that making insurers cover everyone is very much tied to the mandate?

Domestic Policy

The Justice Department issued rules to stem prison rape. “The Justice Department on Thursday issued the first comprehensive federal rules aimed at ‘zero tolerance’ for sexual assaults against inmates in prisons, jails and other houses of detention. The regulations, issued after years of discussions among officials and prisoner advocacy groups, address a problem that a new government study finds may afflict one out of every 10 prisoners, more than twice as many as suggested by an earlier survey. Congress passed the Prison Rape Elimination Act in 2003, and the rules to carry it out are the first to address federal, state and local prisons and jails, including institutions holding juveniles. The standards are binding on federal prisons, and states that do not comply could lose 5 percent of their federal financing…The government expects the rules to cost billions of dollars to achieve fully — perhaps as much as $7 billion, which is less than 1 percent of the systemas overall cost, over the next 15 years, depending on how they are carried out.” John Cushman Jr. in The New York Times.

House Democrats introduced legislation to making voting easier. “House Democratic leaders on Thursday introduced legislation to streamline Americans’ trips to the polls. The bill is a response to a slew of recent state legislation – some proposed, some already law – setting stricter standards for voters to register or cast a ballot. Supporters of those state efforts — including new picture ID and proof-of-citizenship requirements – say they’re necessary to weed out ineligible voters and maintain the integrity of elections. But critics contend they’re designed to suppress eligible voters, particularly minorities and low-income Americans who tend to vote Democratic…At issue are a growing list of state laws recently enacted – usually by Republican lawmakers – in the name of preventing voter fraud. Since the start of 2011, at least 14 states have passed – or are about to pass – new voting restrictions that will affect this year’s presidential election…Eight states have passed new photo ID laws – quadrupling the number before 2011.” Mike Lillis in The Hill.

Interspecies friendship interlude: A baby hugs and rests his head on all the goats..

Energy

A top negotiator said Keystone XL will be dropped from the highway bill. “A senior House Democrat who supports the Keystone XL oil pipeline predicted Thursday that the project will be left on the cutting room floor in House-Senate negotiations over transportation legislation. ‘My guess is that it would not be in the final product,’ said Rep. Nick Rahall (D-W.Va.), the top Democrat on the House Transportation and Infrastructure Committee. The comments are the latest sign that backers of the pipeline will face hurdles winning its inclusion in the bill to reauthorize popular road and infrastructure programs. The House version of the transportation programs funding bill includes language that approves construction of TransCanada Corp.as proposed pipeline to bring Canadian oil sands to Gulf Coast refineries. The Senate plan omits it, and bicameral talks are under way to craft a final bill before the current transportation programs authorization expires at the end of June.” Ben Geman in The Hill.

@MarkLeibovich: After string of sub-par Starbucks experiences, calling for rise in Cafe Standards….

Wonkbook is compiled and produced with help from Karl Singer and Michelle Williams.

RCP Obama vs. Romney: Obama +2.5%; 7-day change: Obama +1.2%.

RCP Obama approval: 48.3%; 7-day change: +1.0%.

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Top stories

1) JPMorgan Chase’s $2 billion loss may now be more than $3 billion. “The trading losses suffered by JPMorgan Chase have surged in recent days, surpassing the bankas initial $2 billion estimate by at least $1 billion, according to people with knowledge of the losses. When Jamie Dimon, JPMorganas chief executive, announced the losses last Thursday, he indicated they could double within the next few quarters. But that process has been compressed into four trading days as hedge funds and other investors take advantage of JPMorganas distress, fueling faster deterioration in the underlying credit market positions held by the bank…The Federal Reserve is examining the scope of the growing losses and the original bet, along with whether JPMorganas chief investment office took risks that were inappropriate for a federally insured depository institution, according to several people with knowledge of the examination.” Nelson Schwartz and Jessica Silver-Greenberg in The New York Times.

A class action lawsuit was filed against JPMorgan Chase over its losses. “A class-action lawsuit was filed Tuesday against JPMorgan Chase on behalf of investors accusing the bank of misleading shareholders about the $2 billion in trading losses that have roiled the company this week. Lawyers said the bank did not fully disclose the risky nature of JPMorganas trades. The lawsuit alleges the bank falsely told shareholders that its bets on financial instruments known as derivatives were ‘hedges’ that would help the firm offset overall risk in its portfolio. Instead, lawyers say, the bank was betting purely for profit and did not fully disclose how much money the bank had already lost before by the time it held an April 13 conference call with investors. The result was that JPMorganas stock price traded at ‘artificially inflated prices,’ the lawsuit alleges…The law firm is still seeking a lead plaintiff for the lawsuit and others who bought the companyas stock between April 13 and May 10.” Jia Lynn Yang in The Washington Post.

@morningmoneyben: What’s another billion between friends?

2) Republicans plan to keep pre-existing condition protections if Obamacare is overturned. “House Republican leaders are quietly hatching a plan of attack as they await a historic Supreme Court ruling on President Barack Obamaas health care law…If the law is partially or fully overturned theyall draw up bills to keep the popular, consumer-friendly portions in place — like allowing adult children to remain on parentsa health care plans until age 26, and forcing insurance companies to provide coverage for people with pre-existing conditions…The post-Supreme Court plan — a ruling should come in June — has long been whispered about inside House leadership circles and among the Houseas elected physicians but is now being discussed with a larger groups of lawmakers….On Tuesday, the major options were discussed during a small closed meeting of House Republican leaders, according to several sources present.” Jake Sherman and Jennifer Haberkorn in Politico.

3) The Fed’s latest minutes suggested change isn’t likely. “The Federal Reserve is solidly entrenched in its current policies and there is little sign that a change is in the offing, according to an account the Fed published Wednesday of the most recent meeting of its policy-making committee. The Fed released a statement after its Federal Open Market Committee met in late April affirming that it would continue its efforts to reduce borrowing costs for businesses and consumers, and the account released Wednesday does not significantly alter that basic message…Still, the account suggests the committee was closer to slackening — specifically, by reeling in its prediction that interest rates will remain near zero until late 2014. Only four of the 17 Fed officials on the committee said that they expected the Fed to hold rates at the current level through 2014, down from six in January, when the Fed last published their projections. But the committee decided not to shift its official projection.” Binyamin Appelbaum in The New York Times.

@justinwolfers: Fed guidance: We have a plan. We don’t plan to follow it. But our plan to revise our plans isn’t a plan, either.

@BCAppelbaum: Fed minutes confirm that April FOMC meeting was very boring

4) The White House is pushing for a tough interpretation of the Volcker rule. “In the wake of losses at J.P. Morgan Chase & Co., the White House is seeking to ensure a tough interpretation of a regulation designed to prevent banks from making bets with their own money, according to people familiar with the matter. White House officials have intensified their talks with the Treasury Department in the days since J.P. Morgan’s losses came to light, these people say–representing the first tangible political impact from a trading mess that has cost one of the nation’s most prominent banks more than $2 billion…The Volcker rule, named for former Federal Reserve Board Chairman Paul Volcker, is currently being hashed out by regulators, with the Federal Reserve taking a lead role. Its goal is to stop banks trading for profit, rather than on behalf of clients or for hedging purposes, on the grounds that taxpayers are on the hook if such efforts go awry.” Carol Lee and Damian Paletta in The Wall Street Journal.

5) A clash over the debt ceiling looks unavoidable. “President Obama and House Speaker John Boehner (R-Ohio) clashed during a White House meeting on Wednesday…The president convened the meeting of the bipartisan congressional leadership to discuss his ‘to-do list’ for Congress, but an aide to the Speaker said the bulk of the meeting was spent on other issues, including a pile-up of expiring tax provisions and the next increase in the federal debt limit. Boehner asked Obama if he was proposing that Congress increase the debt limit without corresponding spending cuts, according to a readout of the meeting from the Speakeras office. The president replied, ‘Yes.’ At that point, Boehner told Obama, ‘As long as Iam around here, Iam not going to allow a debt-ceiling increase without doing something serious about the debt.’…The meeting came one day after Boehner delivered a speech…in which he said he would once again demand spending cuts and reforms that exceed any increase in the nationas borrowing limit that Congress approves.” Russell Berman and Alicia Cohn in The Hill.

@tylercowen: This week’s possible collapse of the global economy is another reason why another debt ceiling showdown would be insane.

Top op-eds

1) KLEIN: Don’t worry about America’s ‘decline.’ “Whenever someone tells me that the U.S. is in decline, I donat have any idea what theyare talking about. And neither, I tend to think, do they. The claim is maddeningly vague. What does it mean for the U.S. to be in decline? Are we talking about our geopolitical influence relative to other world powers? Our standard of living relative to other nations? Our current standard of living compared with some assumption about its appropriate rate of improvement?…If hundreds of millions of Chinese and Indians continue to be stuck on unproductive farms or in unskilled jobs rather than being freed to develop their human capital, the rest of the world will be denied access to the endless innovations they otherwise might have developed…So, yes, the U.S. has its problems. But I wouldnat trade our problems for anyone elseas.” Ezra Klein in Bloomberg.

2) WILL: Subsidizing student loans is wasteful. “Congress is absent-mindedly creating a new entitlement for the already privileged. Concerning the ‘problem’ of certain federal student loans, the two parties pretend to be at daggers drawn, skirmishing about how to ‘pay for’ the ‘solution.’ But a bipartisan consensus is congealing: Certain student borrowers — and eventually all student borrowers, because, well, why not? — should be entitled to loans at a subsidized 3.4 percent interest rate forever…Taxpayers, most of whom are not college graduates (the unemployment rate for high school graduates with no college education: 7.9 percent), will pay $6 billion a year to make it slightly easier for some fortunate students to acquire college degrees (the unemployment rate for college graduates: 4 percent)…Between now and July, the two parties will pretend that it is a matter of high principle how the government should pretend to ‘pay for’ the $6 billion while borrowing $1 trillion this year.” George Will in The Washington Post.

3) MELTZER: Banks need higher capital requirements, not more rules. “The J.P. Morgan mistakes that resulted in a loss of $2 billion or more have awakened some senators to the fact that the Dodd-Frank financial-regulation legislation of 2010 did not prevent errors of judgment and investment losses. But the politicians have drawn the wrong conclusion. They claim that more regulation will protect the public. That’s wrong…This debate suggests that regulation is often ambiguous, and none is more so than the Volcker rule, which the regulators themselves have yet to define in detail. Unlike the Volcker rule and other regulations, equity capital requirements are unambiguous and easily monitored in periodic bank examinations or daily inspection of balance sheets…Experience shows that regulation is an inadequate substitute for bank capital. Scrutiny failures by the Securities and Exchange Commission left investors in the Madoff and Stanford funds with huge losses. Regulation failed to protect the public.” Allan Meltzer in The Wall Street Journal.

4) FRANKEL: Inflation targeting is dead. “It is with regret that we announce the death of inflation targeting. The monetary-policy regime, known as IT to friends, evidently passed away in September 2008. The lack of an official announcement until now attests to the esteem in which it was held, its usefulness as an ornament of credibility for central banks, and fears that there might be no good candidates to succeed it as the preferred anchor for monetary policy…One candidate to succeed IT as the preferred nominal monetary-policy anchor has lately received some enthusiastic support in the economic blogosphere: nominal GDP targeting. The idea is not new. It had been a candidate to succeed money-supply targeting in the 1980as, since it did not share the latteras vulnerability to so-called velocity shocks…Inflation targeting is survived by the gold standard, an elderly distant relative. Although some eccentrics favor a return to gold as the monetary anchor, most would prefer to leave this relic of another age to its peaceful retirement.” Jeffrey Frankel in Project Syndicate.

5) WESSEL: Don’t forget about the job market’s missing workers. “Where have all the workers gone? In the past two years, the number of people in the U.S. who are older than 16 (and not in the military or prison) has grown by 5.4 million. The number of people working or looking for work hasn’t grown at all. Is this because members of the big baby-boom generation are now beginning to retire? Have a lot of people dropped out of the workforce temporarily, and are likely to return when there are more jobs to be had? Or are more of the long-term unemployed becoming the never-again employed? The short answer is yes…One thing is clear: The longer people remain out of work, the more risk they will fall out of the workforce altogether. Getting them back to work–or keeping them tied to the job market through training or volunteering or collecting unemployment compensation–would have long-lasting benefits.” David Wessel in The Wall Street Journal.

Top long reads

Jamelle Bouie on Mitt Romney’s economic policy: “On the tax side, Romney promises a litany of tax reductions, beginning with a permanent extension of the George W. Bush tax cuts. Individual income-tax rates would go down, capital-gains taxes would diminish, the estate tax would vanish, and corporate taxes would drop to 25 percent (from the current level of 35 percent). He has vowed to phase out every tax policy related to both the stimulus and the Affordable Care Act…Past experience suggests that tax reductions are not good medicine for job growth. The Bush cuts, for example, were followed by the slowest job expansion since World War II. Although the economic situation is dramatically worse than it was when Bush took office, Romney intends to reduce taxes even more for high-income earners. You could plausibly say that Romney intends to grow the economy with the old-time magic of trickle-down economics.”

Dream pop interlude: Beach House plays “Walk In The Park” live on WFUV..

Got tips, additions, or comments? E-mail me.

Still to come: The Senate voted down a bunch of budget plans; the Obama administration is trying to get states on board with health exchanges; the House passes VAWA; Keystone XL may not stop a highway bill deal; and maybe if a dog just tries again he will be able to get through the door.

Economy

Angela Merkel indicated openness to stimulus for Greece. “Chancellor Angela Merkel of Germany said Wednesday that she was ready to discuss stimulus programs to get the Greek economy growing again and that she was committed to keeping Greece in the euro zone, signaling a softer approach toward the struggling country. The fierce rhetorical salvos out of Germany in the past week gave way to conciliatory gestures by Ms. Merkel, who throughout the crisis has shown a propensity for managing through brinkmanship. ‘I have the will, the determination to keep Greece in the euro zone,’ she said in an interview on CNBC on Wednesday, in what appeared to be an attempt to relax an increasingly tense situation. If Greek officials are looking for ‘stimulus to be pursued for growth in the euro zone, which we could pursue in the interest of Greece, weare open for this,’ Ms. Merkel said. ‘Germany is open for this.’” Nicholas Kulish and Melissa Eddy in The New York Times.

Greeks continue to withdraw their savings. “The spasm of panic in Greece about a possible exit from the euro zone may have passed, but deposit withdrawals are continuing and Greece’s banks face a weeklong wait for the money that will guarantee they stay afloat until a new government can be formed, according to bankers and government officials. Greek savers withdrew over a!700 million ($890 million) from their banks on Monday, according to President Karolos Papoulias, a foretaste of what may turn Greece’s feared exit from the euro into a self-fulfilling prophecy. Despite no visible signs of anxiousness at Greek bank branches Wednesday, an official at a major bank said things weren’t back to normal…The steady outflow of deposits from Greek banks hasn’t yet turned into a bank run but economists have long warned that a run on banks could develop if the population fears that a Greek exit from the euro is nigh and that savings in bank accounts could be redenominated in a weak new national currency.” Geoffrey Smith and Costas Paris in The Wall Street Journal.

The Senate voted down five budget plans. “The Senate became a political staging ground for meaningless budget votes on Wednesday, as five different budget plans spanning a range of fiscal ideologies failed, the latest chapter in Washingtonas dysfunctional spending wars. First up was the House Republican budget, authored by Rep. Paul Ryan (R-Wisc.), which failed on a 41-58 roll call with five Republicans joining all Democrats in voting no. It was a replay of last year, when the Senate defeated Ryanas budget 40-57. The most obvious political vote of the session was a 0-99 roll call on President Barack Obamaas budget blueprint — which was offered by Republicans. While that tally is sure to become fodder for campaign ads, Democrats dismissed it as a political stunt since there was no real policy language attached to the Obama budget. Three other budget blueprints, offered by tea-party Sens. Pat Toomey, Mike Lee and Rand Paul, also were rejected in lopsided votes.” Scott Wong in Politico.

@daveweigel: Was today Fake Budget Vote Day? Damn, forgot my cowboy hat and airhorn

Foreclosures remain high. “The percentage of American homeowners behind on their mortgage payments fell during the first quarter to the lowest level since the end of 2008. But the share of loans in foreclosure remains stubbornly high, according to a survey Wednesday. At the end of March, 11.8% of all loans were at least 30 days past due or in foreclosure, the report from the Mortgage Bankers Association said. While that is still high by historical standards, it has improved steadily over the past two years, falling from 12.8% a year ago and 14.7% two years ago. The decline in the share of homeowners late on payments was due almost entirely to fewer new cases of delinquency, a sign that households’ finances are improving. The percentage of borrowers behind on their mortgage but not in foreclosure fell to 7.4% at the end of March from 8.3% a year earlier…Some 4.4% of mortgages were in some stage of foreclosure at the end of March, unchanged from the previous quarter and down only slightly from 4.5% a year ago.” Nick Timiraos in The Wall Street Journal.

Housing starts rose last month. “U.S. home building grew in April, the latest sign that the recovery may be strengthening in the long-struggling market. Separately, U.S. industrial output rebounded in April, a sign of healthy demand for factory goods. Home construction increased 2.6% from March to a seasonally adjusted annual rate of 717,000, the Commerce Department said Wednesday. Year-over-year, starts were up nearly 30%. Economists surveyed by Dow Jones Newswires had forecast April’s housing starts would grow to a seasonally adjusted annual rate of 685,000. That would have been a 4.7% jump from the prior month’s previously reported figures. March starts, however, were revised significantly upward to a rate of 699,000 starts from a previously reported 654,000. The newly stated data reflects a 2.6% decline from February. Construction of single-family homes, which made up 69% of housing starts last month, grew 2.3% in April and was up 18.8% from a year ago.” Eric Morath and Alan Zibel in The Wall Street Journal.

@grossdm: Can’t believe tweeps aren’t more excited about housing start figures. Good things happen when home construction rises

Tumblr interlude: Brad Pitt eating things.

Health Care

The Obama administration launched a new effort to get states on board with exchanges. “The Obama administration on Wednesday made a fresh bid to coax reluctant governors to work with the federal government to help enact the health-overhaul law…To get more states to go along with the idea, the Obama administration is allowing states to divide the responsibilities of managing the new exchanges with the federal government. States will have until Nov. 16–or 10 days after the presidential election–to pick that option, officials said Wednesday. States that work with the federal government could help administer some or many key aspects of their exchanges, the administration said. Those include determining which insurance plans the exchange contains and identifying lower earners who qualify for the Medicaid program or subsidies to help them purchase private plans…States that don’t opt to work with the federal government at all will have to use a fully federally run exchange beginning in 2014.” Louise Radnofsky in The Wall Street Journal.

Domestic Policy

The House passed its version of the Violence Against Women Act. “Defying a veto threat from the White House, the House approved its version of the Violence Against Women Act amid furious backlash from Democrats and womenas groups that it wouldnat do enough to protect abused victims. Wednesdayas vote to renew the 1994 anti-violence law was 222-205. Twenty-three Republicans voted against the bill, while six Democrats voted for it. Vice President Joe Biden, who wrote the law as a senator, said after the vote the measure would water down key protections for victims…The Violence Against Women Act was enacted in 1994 and renewed twice since. This year, Senate Democrats added a host of protections that would cover undocumented immigrants, same-sex partners and Native American women, and the bill passed the chamber 68-31 in late April. Democrats and the Obama administration want the House to pick up the Senateas version of the bill.” Seung Min Kim in Politico.

A Senate panel passed a domestic partner benefits bill. “A week after President Barack Obama publicly proclaimed his support for same-sex marriage, a Senate panel easily passed a measure that would extend benefits to gay and lesbian partners of federal workers. On a voice vote, the Senate Homeland Security and Government Affairs Committee approved the Domestic Partnership Benefits and Obligations Act. The bill is intended to give the same benefits to same-sex partners that spouses of straight federal workers currently receive. Among the benefits that would be provided to same-sex partners are health care benefits, long-term care, family and medical leave, and retirement benefits, according to Sen. Joe Lieberman (I-Conn.), the billas chief sponsor who has repeatedly introduced the measure in previous Congresses…According to Liebermanas office, one of three employers offers benefits to their workersa domestic partners, as well as 60 percent of Fortune 500 companies and half of employers with more than 5,000 employees.” Seung Min Kim in Politico.

Adorable animals who lack basic life skills interlude: A dog can’t understand why he can’t get through the door.

Energy

Republicans may not insist on Keystone XL inclusion in the final highway bill. “Republicans are pressing for approval of the Keystone XL oil pipeline in a final House-Senate transportation bill but appear unlikely to draw a line in the sand that jeopardizes the infrastructure legislation. While the proposed Alberta-to-Texas pipeline is a top GOP and oil-industry priority, Republicans might have incentive to keep the matter unresolved, enabling them to continue using Keystone as a political weapon during the campaign season…GOP lawmakers are nonetheless calling the pipeline a top priority, and express confidence that there is growing support for including it in a final transportation bill. But asked if they would insist on Keystone as a condition for an agreement, several GOP lawmakers said they didnat want to discuss ‘hypotheticals,’ while others hinted that they theyare flexible on the matter.” Ben Geman in The Hill.

@BobCusack: Prediction: Highway bill gets signed into law w/o Keystone. GOP loses the policy battle, but uses Keystone relentlessly on campaign trail.

The U.S. may announce ‘anti-dumping’ tariffs on Chinese solar panels. “Renewable energy companies around the world are awaiting a decision Thursday by the U.S. Commerce Department on whether to impose anti-dumping tariffs on solar panels imported from China, as a little-noticed policy shift by the department last year has made the outcome of the case unusually hard to predict. Chinese companies grabbed nearly half the U.S. market for solar panels last year through aggressive price cuts that helped make solar energy considerably more affordable for U.S. families and electric utilities. But solar panel manufacturers in the United States have accused the Chinese companies of ‘dumping’ panels: selling them below the cost of manufacturing and shipping them, so as to seize market share, drive competitors out of business and raise prices later. Any anti-dumping tariffs would be in addition to anti-subsidy tariffs of 2.9 percent to 4.73 percent that the department imposed in March on solar panels from China.” Keith Bradsher in The New York Times.

Obama will reportedly push for a coordinated release of emergency oil stocks. “President Obama will press Group of Eight leaders this weekend to support a coordinated release of emergency oil supplies, according to a news report. Obama will discuss the potential oil release during a G8 summit at Camp David on Friday and Saturday, Kyodo News, a Japanese news outlet, reported. White House officials have said for months that releasing oil from the U.S. Strategic Petroleum Reserve (SPR), a 696-million-barrel oil stockpile stored along the Gulf Coast, is ‘on the table.’ Reuters, in a series of stories earlier this year, reported that U.S. officials have approached French and British officials about coordinating an oil release…Obama released 30 million barrels of oil from the SPR last summer in order to make up for supply losses from Libya. At the time, administration officials said the supply losses were threatening the economic recovery. The president tapped the SPR in conjunction with International Energy Agency nations.” Andrew Restuccia in The Hill.

@AndrewRestuccia: Talk of Obama tapping the SPR is putting the GOP in the awkward position of having to say it’s unnecessary because gas prices are dropping

Wonkbook is compiled and produced with help from Karl Singer and Michelle Williams.