Sunday, January 3, 2010

Nearly a quarter of Iceland’s voters have signed a petition calling for President Ólafur Ragnar Grímsson to veto the bill passed last week to pay €3.8 billion to the United Kingdom and The Netherlands to compensate depositors impacted when the Icesave online bank collapsed in 2008.

“I consider it to be a reasonable demand that the economic burden placed on the current and future generations of Icelanders, in the form of a state guarantee for Icesave payments to the UK and Dutch governments, be subject to a national referendum,” says the petition.

The petition also demands a referendum be held; any bill not signed by the President must do so under the country’s constitution. This constitutional clause has only once been invoked since the country’s independence from Denmark in 1944. Ólafur challenged a media reform bill in 2004 which the parliament passed by a margin of only two votes. The bill which would have forced the breakup of Baugur Group due to a mix of media and business interests.

The group collecting signatures and who handed over the petition to the President, InDefence, called the bill a “huge risk” for Iceland’s economic future. “All projections based on realistic assumptions […] showed without doubt that Iceland would be unable to meet the payments stipulated by the Icesave loan agreements as set out in the disputed legislation,” it announced in a statement.

Organiser Magnus Arni Skulason made the comparison between repaying the debt and financing Iceland’s health service. “We were able to represent our arguments to the president, and also on the occasion we handed over a petition to ask the president to reject the current Icesave bill,” he said to the BBC. “The interest rate on the Icesave agreement for Iceland is like running the National Health Service of Iceland for six months.”

Magnus expressed preference for the previous legislation from the Icelandic government in August last year. That would have seen the interest paid limited and a time-limit on the period for payment where any outstanding amount would be written off after fifteen years.

Icelandic Prime Minister Jóhanna Sigurðardóttir and her coalition government threatened to resign if the bill was not passed by parliament. It did so by a slim three vote majority: 33 in favour, 30 against. One junior minister has already resigned over the matter.

Icesave was the online service offered by the Landsbanki bank and proposed high interest rates to investors. When it collapsed in October 2008 it had its accounts frozen and had to be rescued, losing 320,000 British and Dutch investors their savings. They were compensated in part by their own governments, which in turn looked to the Icelandic goverment to recompense them. In addition to the Landsbanki, the Glitnir and Kaupthing banks also had to be rescued by the Icelandic government.

The €3.8 billion, to be repaid in installments starting in 2017 over eight years, represents 40% of Iceland’s gross domestic product. Repayment of the debt is an important factor in the country’s application to join the European Union.

Saturday, June 11, 2005

A House subcommittee voted Thursday to sharply reduce the federal government’s financial spending for Fiscal Year ’06, including eliminating taxpayer funds that help produce such shows as Sesame Street and Arthur.

The spending cutbacks far exceeded even those requested by the White House. Among initiatives slated for reduction are $39 million for conversion to digital programming and $50 million for upgrading PBS’s aging satellite technology.

The subcommittee also acted to eliminate federal money for the Corporation for Public Broadcasting, a body created by Congress to pass funds on to public broadcasters. The CPB would see a 25 percent reduction in next year’s budget, down from $400 million to $300 million, funds that currently account for 14.9% of all public broadcasting revenues[1].

Ideological concerns over publicly-financed content have recently become a point of contention for the Republican-controlled CPB. The day after the new budget was approved, CNN obtained an internal memo by NPR’s executive vice president Ken Stern that blamed the cuts on “recent public turbulence caused by CPB chairman Ken Tomlinson’s irresponsible attacks on public broadcasting.” Stern’s memo also told staffers the cut would not hurt NPR directly because it receives little direct support from the CPB. Instead, he emphasized, smaller local stations that rely upon federal dollars are most likely to be affected, which could in turn take a bite out of regular dues and fees, NPR’s largest revenue source.

Under the budget, the Ready to Learn program’s $23 million appropriation for children’s shows is rescinded in its entirety. John Lawson, president of the Association of Public Television Stations, said the cut was retribution for an episode of “Postcards From Buster” featuring a pair of lesbian parents from Vermont. A spokesman for the Appropriations Committee, John Scofield, denied the claim.

“Ready to Learn was one of more than 50 programs terminated in the spending bill,” he told the New York Times. “It might be a nice program to do, but not in a flat budget with large budget deficits. We felt the same way about 49 other programs.”

Overall, the cuts would signal the most dramatic cutback of public broadcasting since Congress created the CPB in 1967. The spending bill is expected to pass the Appropriations Committee and the House, but final legislation will be negotiated with the Senate.

Thursday, January 22, 2009

Billy Werber, third baseman in Major League Baseball, has died at the age of 100. Werber died of natural causes on Thursday, January 22, 2009 at an assisted living center in Charlotte, North Carolina. He was moved there after his health deteriorated a month ago.

His son said that when admitted, Werber refused to eat solid foods and would only drink liquids. “He just refused to eat and that was his plan,” Bill Werber Jr. told the Associated Press. He added that his father was “sharp up until four weeks ago”.

Born William Murray Werber on June 20, 1908 in Berwyn Heights, Maryland, he played for the New York Yankees from (1930, 1933), the Boston Red Sox from (1933-1936), the Philadelphia Athletics from (1937-1938), Cincinnati Reds from (1939-1941) and the New York Giants from (1942).

In 1934, Werber became the starting third baseman of the Red Sox. He responded with a career-high .321 batting average, including 200 hits; led the American League with 40 stolen bases, and posted double digits in doubles (41), triples (10) and home runs (11). He led the league in stolen bases in 1935 (29) and 1937 (35). Boston traded him to the Philadelphia Athletics for the 1937 season, and he joined the Cincinnati Reds in 1939.

In an 11-season career, Werber was a .271 hitter with 78 home runs and 539 RBI in 1,295 games. One of the most aggressive baserunners of the 1930s, probably the most aggressive next to Ben Chapman, he stole 215 bases. He was inducted into the Cincinnati Reds Hall of Fame in 1961.

His wife Kathryn ‘Tat’ Werber died in 2000, after she and Werber had been married 70 years. Bill Werber Jr. says that his father is to be cremated and services, which will be open to the public, will be held on the weekend of January 31 through February 1.

Saturday, October 20, 2007

Dell Inc. announced on Tuesday that it will partner up with the Microsoft-Nortel Innovative communications alliance (ICA) team to sell Unified Communications and VoIP products.

The announcement on Tuesday the 16th of October 2007 includes Dell selling VoIP, data and wireless networking products from Nortel and the Microsoft Office Communications Server 2007 and other unified communications products.

The partnership with both manufacturers should allow Dell to provide a pre-integrated solution.

In March 2007, competitors IBM and Cisco announced they would join in the competition for developing unified communications applications and the development of open technologies around the unified communications and collaboration (UC2) client platform an application programming interfaces (APIs) offered by IBM as a subset of Lotus Sametime.

“We want to make it simple for our customers to deploy unified communications so their end users can get access to all their messages in one place – whether its e-mail, phone or mobile device. This will pave the way for more business-ready productivity tools,” said vice president of solutions, Dell Product Group, Rick Becker.

• Customers have four options:
  • Core Office Communication Server 2007 – provides instant messaging and on-premise Microsoft Live Meeting.
  • Office Communication Server: Telephony – enables call routing tracking and management, VoIP gateway and public branch exchange (PBX) integration.
  • Audio and Video Conferencing – allows point-to-point conference, video conference and VoIP audio conference.
  • Exchange Unified Messaging – provides voicemail, e-mail and fax in Microsoft Outlook, and anywhere access of Microsoft Outlook Inbox and Calendar.

[edit]

Monday, September 29, 2008

The US House of Representatives rejected a bill on the USD 700 billion bail out of US banks. The voting on the bill has completed.

If passed, the bailout plan would have allowed for the United States government to purchase devalued mortgage backed securities, resulting from the subprime mortgage crisis from troubled financial institutions. The US Treasury Secretary Henry Paulson has said that the plan could cost up to $700 billion.

There has been considerable debate over several parts of the plan, which failed with 228 votes opposing, 205 supporting, and 1 not voting. The bill had much more support by the Democratic Party (with 60% of Democrats voting “aye”) than the Republican Party (of which only 33% voted for the bill).

George W. Bush described the bill before the vote was made. “This legislation deals with complex issues, and negotiators were asked to address them in a very short period of time. I appreciate the leadership of members on both sides of the aisle, who came together when our nation was counting on them. Negotiations are sometimes difficult, but their hard work and cooperation paid off,” he said, in a speech in which Bush begged politicians to support the bill.

Bush continued describing the bill. “The bipartisan economic rescue plan addresses the root cause of the financial crisis — the assets related to home mortgages that have lost value during the housing decline. Under the Emergency Economic Stabilization Act, the federal government will be authorized to purchase these assets from banks and other financial institutions, which will help free them to resume lending to businesses and consumers.”

According to BBC News, congressmen opposed the bill after receiving 50 times as many letters against the bill as for the bill. George Bush attempted to respond to the criticisms of the bill by US citizens. “I know many Americans are worried about the cost of the bill, and I understand their concern. This bill commits up to 700 billion taxpayer dollars, because a large amount of money is necessary to have an impact on our financial system. However, both the non-partisan Congressional Budget Office and the Office of Management and Budget expect that the ultimate cost to the taxpayer will be far less than that”.

Sunday, October 4, 2015

Nine people were killed on Thursday by 26-year-old Chris Harper Mercer on the campus of Umpqua Community College in Roseburg, Oregon. By various reports seven or nine people were also injured. Officials said Mercer killed himself during the subsequent shootout with police.

Mercer began the killing spree in a class where he was a student by shooting the class teacher, and killed eight students in that and at least one other classroom. In the next classroom, a student nurse unsuccessfully tried to save the life of her friend who was wounded by the gunman. Another student, ex-soldier Chris Mintz, was shot seven times after coming to help.

The reasons for the attack are not known but CNN reports he singled out people who identified themselves as Christian. The BBC noted Mercer may have revealed his plans via social media and possibly left a written statement. He briefly served in the US Army in 2008.

An ATF (Bureau of Alcohol, Tobacco, Firearms and Explosives) agent said authorities found six weapons at the college and a further seven weapons from the gunman’s home, including a shotgun, all of which appear to have been obtained lawfully by Mercer and members of his family. State laws permit people to carry concealed weapons in higher education institutions and at least one other person at the college was armed. Oregon recently passed a new gun law in response to a shooting incident in 2012, in which a man used a stolen rifle to murder two other people in a Portland shopping center.

Later on Thursday, President Barack Obama spoke for twelve minutes about the incident and called for stricter gun controls in line with other countries like Australia and the United Kingdom. Referring to earlier similar shootings, he said “Somehow this has become routine. The reporting is routine. My response here at this podium ends up being routine, the conversation in the aftermath of it. We have become numb to this”. This is reportedly the fifteenth occasion Obama has spoken out after such a killing spree. He expressed his belief that there would soon be a “press release” from the pro-gun lobby, who would call for a reduction of gun controls. He also predicted there would be criticism levelled at him about his politicization of the matter, but he said “this is something we should politicize.” Although no new initiative was outlined, Obama highlighted Congressional opposition which had stopped “the collection of data on shooting incidents” and stated “this is not something I can do myself.”

Friday, August 14, 2009

According to official records, Hong Kong’s economy has left a year-long recession, recording a growth of 3.3% in the second quarter ended in June. The figures, which were seasonally adjusted, were higher than forecast by economists.

As a result, the government has increased its growth predictions for 2009. Previous estimates suggested the economy would contract by 5.5% to 6.5%. Now, the contraction is only predicted to be between 3.5% and 4.5%.

“The GDP data was much better than we expected, partly because the exports were better and partly because of a pick-up in private consumption,” Bank of East Asia’s chief economist, Paul Tang, noted. “Private consumption is being driven up by stock market gains and by the property sector, which started doing well.”

However, government economist Helen Chan warned that “while we are seeing some light at the end of the tunnel, […] the outlook remain highly uncertain because the situations in the United States and Europe are still very weak.”

Tuesday, January 26, 2010

The mystery of the location of a viewpoint used by English painter John Constable has been solved, after nearly 200 years. The Stour Valley and Dedham Church was painted in Suffolk, England, between 1814 and 1815, but changes to the landscape meant that the spot he chose was not known, despite the best efforts of historians and art experts.

Now the puzzle has been answered. Martin Atkinson, who works for the National Trust as property manager for East Suffolk, used clues from the painting and looked at old maps to track down the viewpoint. Trees had grown, a hedgerow had been planted and boundaries had moved or disappeared, but Atkinson eventually worked out where Constable had stood. He said, “When I discovered that I had worked out the location where Constable painted this particular masterpiece, I couldn’t believe it. All the pieces of the jigsaw finally fitted together.”

Atkinson used an 1817 map of East Bergholt, where Constable grew up, as a reference point, but found that the view would have changed not long after the painting was completed. “The foreground didn’t fit at all, it was quite unusual as we know Constable painted it in the open air so he would have been standing in the scene. The hedgerow in his work no longer exists and there’s another hedgerow that runs across the scene today which wasn’t there. When you stand on the road on which he would have stood, and use the oak tree as a reference point, you see the same view. It’s great to see where an old master stood – and be inspired by the same view,” he said.

Suffolk, where Constable painted many of his finest paintings, is often called “Constable country”. Most, but not all, of the locations that Constable depicted are known. The picture is now housed in the Museum of Fine Arts, Boston, Massachusetts.