Monday, September 7, 2015

The US economy added 173,000 jobs in August, the Bureau of Labor Statistics reported on Friday. The unemployment rate fell from 5.3 to 5.1 percent, the lowest since April 2008.

Although August job gains were lower than most economists forecast, job growth numbers for June and July were revised upwards by a combined 44,000. Average job gains over the past three months stand at 221,000, compared to March-May’s 189,000 monthly average. Over the past twelve months, job growth has averaged 247,000 per month.

Average hourly earnings rose 0.3 percent, or 8 cents, marking the largest increase in earnings in seven months. Hourly earnings had risen by 6 cents in July. Wages have risen by 2.2 percent over the past year.

Job growth in August was primarily concentrated in the health care and social assistance, financial activities, and professional and business services sectors. Those three areas of the economy added a combined 108,000 jobs. Food service and drinking places employment increased by 26,000 over the month, and other economic sectors saw employment hold steady. Manufacturing, on the other hand, saw employment decline by 17,000 in August. A stronger dollar and worldwide economic weakness make US exports less desirable, leading to a flattening in manufacturing employment so far this year after steadily rising in the early years of the US economic recovery.

The solid overall job gains led analysts to slightly raise expectations for a decision by the Federal Reserve to raise interest rates this month. Investors raised the likelihood of a September rate increase from 26 percent before the jobs report to 30 percent, and stocks dropped by over one percent on Friday. “The payrolls data is certainly good enough to allow for a Fed rate hike in September,” said Deutsche Bank’s head of currency strategy, Alan Ruskin. “The big question is still whether financial market volatility will scupper the plans.”

“This is the first time the market has looked at a Fed meeting and really has no idea what the Fed is going to do,” said Mark Kepner, a New Jersey equity trader with Themis Trading. “Right now you’re looking at the overall uncertainty and that’s what’s hanging on the market. I don’t think this number in and of itself changes how somebody’s going to vote.”

Thursday, July 13, 2006

Buffalo, New York —According to the developer Savarino Construction Services Corporation, the proposed Elmwood Village Hotel which would be placed on the corner of Elmwood and Forest Avenues in Buffalo, New York has been withdrawn from the city’s Planning Board and Common Council and will undergo a “do over”; however, Eva Hassett, Vice President of Savarino says that the proposal will be resubmitted, from scratch by the end of next week.

The hotel would require the demolition of at least five properties, 1109-1121 Elmwood and would cause the closure of several businesses. Already, two businesses, Skunk Tail Glass and Six Nations Native American Gift Shop have relocated, outside the Elmwood Strip. Don apparel, H.O.D. Tattoo and Mondo Video still remain on Elmwood; however, Mondo Video is planning on moving to a new location. The hotel will be 72 rooms and will cost at least 7 million dollars to build.

“We’re lovers, not fighters. Our energies should be spent on developing a really wonderful project, not wasted in court. We’ll start over with a clean slate and take as much time as necessary to hear people out and end up with a very positive project for the neighborhood,” said President of Savarino Construction, Sam Savarino.

The hotel will not undergo any major changes in its design says Savarino. “We would anticipate little if any physical change to the plans.” He also alleges that the issues with the hotel were not with the design or the proposal and also says that the hotel is still right for the intersection.

“The perceived problem was with the process, not the proposal itself. We believe this is the right thing to do on that corner,” added Savarino.

According to the Buffalo News, the projects resubmission is aimed to “shed the lawsuits” against the proposal. The Buffalo News also claims that the Common Council members are all still “in favor of the project.” The proposal was unanimously passed by the council on March 21, 2006.

Attorney Arthur J. Giacalone who represents the plaintiffs, Nancy Pollina and Patricia Morris, who operate Don Apparel (a vintage clothing and collectibles shop at 1119 Elmwood Avenue), Angeline Genovese and Evelyn Bencinich, owners of residences on Granger Place which abut the rear of the proposed site, Nina Freudenheim, a resident of nearby Penhurst Park, and Sandra Girage, the owner of a two-family residence on Forest Avenue less than a hundred feet from the proposed hotel’s sole entrance and exit driveway, says that the hotel proposal was “inappropriately rushed,” but some council members disagree. Defendants in the lawsuit against the hotel are, Buffalo’s Common Council and Planning Board, Mayor of Buffalo, Byron W. Brown, Savarino Construction Services Corporation, Hans J. Mobius and his son Hans S. Mobius owners of the properties at stake, Pano Georgiadis, owner of Pano’s Restaurant on Elmwood, and Cendant Corporation, the parent company of Wyndham Hotels, which will be, according to Savarino, the hotel operator. Attorney David State is representing the city, Planning Board, Mayor Byron Brown and the Common Council.

“I don’t think it was a rush job,” said Dominic J. Bonifacio Jr., the council’s Majority Leader.He also alleges that the only way to make “it [the hotel] a better project and ease the concerns of some neighbors would be to find a way to provide more parking.”

In an exclusive phone interview with Wikinews, Giacalone states that the lawsuit against the hotel and the city “will not be moved [withdrawn] unless the Common Council resins their [prior] decisions in passing the proposal.” Giacalone also says that Savarino has yet to submit any new plans for the proposal to the city. He also says that he “still plans to represent all plaintiffs” if they wish to continue with the suit and the use of his services.

Giacalone rescheduled the preliminary hearing which is “still in place” for July 27, 2006. When asked if the properties are still owned by Mobius, Giacalone replied “yes” and that according to attorney Bob Knoer, the Lawyer representing Hans Mobius, the owner of the properties that could be demolished, there is “no contract between Savarino” and that Mobius “plans to put the properties back on the market.” Mobius has not returned phone calls or e-mails and has not yet commented on the situation or the proposal itself. The city denies these claims.

In an exclusive phone interview by Wikinews, area councilman Joseph Golombek states that the reason for the resubmission of the proposal was due to “a mistake in the Planning process” and that none of the council members have “indicated that they have changed their opinions on the hotel” and still remain in favor of the project.

“I still think the Hotel is a good idea for that part of Elmwood. For Elmwood to stay strong and vibrant it must continue to grow and adapt to change. It is a different community than it was twenty years ago and will be different in another twenty years. The opponents of the Hotel have the opportunity to challenge it and are doing that. Even though I disagree with them I am glad there is a safety mechanism for people who disagree with government. We need to keep moving forward,” added Golombek.

Supporters of the hotel proposal are planning on holding a rally to support the new development. WNYmedia.net claims that the first rally will be held to support the hotel proposal on July 17, 2006 at 5:00 p.m. on Elmwood and Forest, on the site of the proposed location. According to WNYmedia.net they “are tired of the anti development crowd in Western New York.” They also blast opponents of the hotel proposal calling them “bananas” and “nimbys.” People opposed to the hotel proposal are planning on “counter attacking” with their own protest on the same day and time.

==Sources==

• Sharon Linstedt. “Elmwood hotel proposal to start over” — Buffalo News, July 12, 2006

• BuffaloWatchdog. “The Great BANANA Blackout Rally Monday on Elmwood and Forest” — WNY Media Network, July 12, 2006

Sunday, September 28, 2008

Four people have been arrested on terrorism charges in Islington, London, England, after a suspected petrol bombing on the house of Martin Rynja, owner of book publishing company Gibson Square.

His company recently sparked controversy after buying the rights to publish The Jewel of Medina, a work of fiction by Sherry Jones depicting the Muslim prophet Muhammad and his child bride, Aisha.

The bombing, which occurred in the early hours of Saturday morning, led to the evacuation of the £2.5 million property in Lonsdale Square. Three men, aged 22, 30 and 40, were arrested at 2:25am BST by armed officers, two in Lonsdale Square, and one after being stopped near Angel tube station.

Police comments suggested that the trio had been under surveillance, and that they had advance knowledge of the plot and simply waited for the arsonists to strike, before arresting them.

On Saturday, a woman was arrested for obstructing police during their searches of four addresses – two in Walthamstow, and two in Ilford and Forest Gate.

Speaking earlier this month, Mr Rynja said that “The Jewel of Medina has become an important barometer of our time. As an independent publishing company, we feel strongly that we should not be afraid of the consequences of debate.” Ms Jones commented that she did not intend for her novel to be offensive to Islam. She noted that she “[has] deliberately and consciously written respectfully about Islam and Muhammad.” She “envisaged that [her] book would be a bridge builder” between Islam and the western world.

Sunday, July 8, 2007

The U.S. Army installation at Fort Lee in Virginia will begin using a program called RAPIDGate that will replace passes issued to non-military persons who regularly require access to the facility. The program will take effect July 10, when the practice of issuing 90-day passes to people who present a valid driver’s license, vehicle registration, and proof of insurance for the vehicle used for access ends. Those passes will be grandfathered out as they expire.

The RAPIDGate program for fast entry into Fort Lee replaces what was once access privileges performed by the installation itself, which came free of cost. The new outsourced program administered by Portland, Oregon-based Eid Passport, Inc. enhances security to the installation by performing background checks. Their service comes at a price. The screening process makes a ten-year felony background check, performs a check against terrorist and sexual offender watch lists, and does a social security cross reference to validate a person’s identity.

Qualified applicants are issued a pass that enables them to bypass inspection pits and use any of the facility’s seven gates for access. Businesses whose employees would benefit by this are required to contact the program provider and have “point of contact” persons who can validate an applicant’s employment. Enrollment in the program costs the business US$199. A pass for each employee of the business costs $159 annually. The pass for employees expires after a year, when a new background check is required by the program.

The program is a voluntary alternative for civilians to conform with new access policies mandated by the Department of Defense and the U.S. Army, according to an information pamphlet distributed by the base. A kiosk will be set up at Fort Lee to accept applications that process a photograph, social security number, and fingerprint.

Those without a RAPIDGate pass will need to enter the fort at locations where their vehicle can be inspected. A rigorous inspection involves armed guards asking the driver to place keys on the dash board, pop the hood and the trunk, open the glove box, and have all occupants exit the vehicle and open all doors, including the hood and trunk. While the vehicle is inspected inside, another guard uses a mirror attached to a wand to inspect under the chassis of the vehicle’s undercarriage.

Eid Passport, Inc. specializes in identity authentication and background screening. Fort Lee will be the 12th military installation out of an estimated 250 military installations on U.S soil to implement identity screening as part of new policies mandated by the Department of Defense (DoD).

“The pass contains no personal information,” said David Smith, the director of marketing for Eid Passport. It does contain a barcode which is scanned at entry. The RAPIDGate program database includes a biometric fingerprint that might be checked by the scanning device against the presenter of the pass in times of elevated security. The pass is also embedded with an active RFID transmitter. The pass is scanned on entry to the fort at the gate check point, but not upon exit. If the RFID transmitter works properly, movement into and out of the base will be recorded.

The Fort Lee pamphlet mentions a “a new mandate” by the DoD. That mention appears to be in reference to portion of the language found in an Instruction issued in October last year by the DoD that states, “Implement a verification process, whether through background checks or other similar processes, that enables the U.S. Government to attest to the trustworthiness of DoD contractors and sub-contractors.”

The Instruction stems from a Directive signed by President Bush in August of 2004. That Directive, from the Department of Homeland Security, says in part, “Wide variations in the quality and security of forms of identification used to gain access to secure Federal and other facilities where there is potential for terrorist attacks need to be eliminated.”

Fort Lewis in Washington state was the first U.S. military installation to adopt the RAPIDGate program as a test in 2004. Since then, Fort Sam Houston, Fort Carson, and Fort Bragg, among other installations have adopted the program.

“What happened at Fort Dix, [New Jersey], as we look at it, is a Fort Dix issue,” Laura Arenschield reported spokesman for the 18th Airborne, Tom McCollum, as saying in June. “That should not be taken as an invitation for someone to try it here at Fort Bragg, but (security) is a living, breathing entity. You have to constantly change it just to keep those who are trying to penetrate it on their toes.” The new security measures will go into effect at Fort Bragg, North Carolina, which is among the largest of domestic military bases, starting July 8.

Thursday, September 15, 2005

The body’s immune system is less effective at quashing disease than it could be – but if it were better the immune system might do more harm than good, according to new research by Michael Deem and colleagues of Rice University in Houston.

The immune system has apparently evolved to be mildly inefficient so that it achieves a balance between quick response to disease and decreased probability of autoimmune disease, a condition in which the immune system attacks healthy tissue.

The authors drew their conclusions from a model of the dynamics of antibody evolution. Their simulations show that while there are mechanisms that would allow the immune system to develop antibodies that respond faster and more strongly against invading pathogens, those mechanisms would also create antibodies that are likely to attack the body’s own healthy cells. The model also bolsters controversial suggestions that chronic infections could lead the immune system awry, ultimately resulting in rheumatoid arthritis or other autoimmune ailments.

The study will be detailed in a forthcoming issue of the journal Physical Review Letters.

Tuesday, April 24, 2007

The United States Coast Guard (USCG) has seized 20 tons or nearly 40,000 pounds of cocaine with a street value of over US$500 million in what authorities call one of the largest cocaine busts in history.

Three busts in total were made in a period of nearly one month. The first on February 19, off the coast of Mexico, March 18 off the coast of Panama and on March 25, also off the coast of Panama.

In the first bust on February 19, “the Ecuadorian-flagged fishing vessel Don Juan K was approached in the Pacific Ocean February 19 off the coast of Mexico while allegedly offloading cocaine into “go-fast” (cigarette-style boat) boats. The fishing vessel’s crew apparently set fire to Don Juan K in an attempt to destroy the evidence and flee in the go-fasts. The USCGC Sherman stopped the go-fasts and recovered about 900 pounds of cocaine as Don Juan K sank. The 14 crew members are being processed for further legal action,” said a statement on the USCG’s website.

The second bust on March 18 yielded nearly 40,000 pounds of cocaine.

“The 330-foot Panamanian-flagged motor vessel Gatun was interdicted in the Pacific Ocean Mar. 18 off the coast of Panama while heading north toward the United States. Sherman’s crew stopped and boarded the vessel and found 765 bales of cocaine weighing approximately 38,000 pounds in two shipping containers. Gatun was escorted back to Panama and its 14 crew members processed for further legal action,” added the statement.

In the third bust on March 25, at least 2,000 pounds of cocaine was seized, also from a ship off Panama’s coast.

“[The] Sherman’s crew stopped and boarded a small stateless go-fast in the Pacific Ocean Mar. 25 off the coast of Panama following a short chase, in which, the go-fast attempted to flee at a high rate of speed. Approximately 2,000 pounds of cocaine was found aboard the go-fast and its four crew members were processed for further legal action,” said the statement.

Several agencies both in the U.S. and in other countries in Central and South America and will continue to investigate the extent of the drug ring.

“The Coast Guard works in close coordination with Joint Interagency Task Force South, U.S. Attorney’s office, Panama Express South, DEA, FBI, Bureau of Immigration and Customs Enforcement, and Customs and Border Protection, as well as the Departments of Justice, State and Homeland Security on counter drug operations in the Pacific Ocean near Central and South America. These drug smuggling routes are some of the most active, yielding roughly 70 percent of the cocaine seized annually by the Coast Guard,” added the statement.

Thursday, September 21, 2017

On Monday night, New Jersey, US-based toy retail giant Toys R Us filed for bankruptcy in the US as well as in Canada. The retailer filed it from Richmond, Virginia for Chapter 11 bankruptcy code in the US, and a judge allowed a loan of over US$2 billion.

According to the filing, the retail chain owns US$6.6 billion in assets, but has a debt of US$7.9 billion. They were under a roughly US$5 billion debt since the company underwent a three-way acquisition in 2005. Kohlberg Kravis Roberts, Bain Capital, and Vornado Realty Trust acquired Toys R Us for around US$7 to US$7.5 billion. After the US judge approved a loan, Toys R Us received about US$3 billion from the lenders to continue the business and survive a competitive market, and restructure their business model. E-commerce giant Amazon.com, Walmart and Target are some of the competitors for the conventional ‘brick and mortar’ toy shop, with lower priced-merchandise and fast, cheap delivery. In a conference call in June, CEO Dave Brandon said “very, very aggressive pricing online” was causing problems. He also said the company was experiencing “significant weakness in demand for their products globally”. Toys R Us are to clear a debt of US$400 million by May 2018.

Toys R Us said they would continue to operate for the holiday season. Bankruptcy lawyer Jeff Gleit said Toys R Us “need to do both a financial restructuring as well as an operational restructuring” and “needs to modernize with the times”. Last holiday season, Toys R Us made sales around US$4.5 billion. Overall, the company reported a US$29 million loss in 2016. CEO Brandon said, “Our objective is to work with our debt holders and other creditors to restructure the US$5 billion of long-term debt on our balance sheet, which will provide us with greater financial flexibility to invest in our business”.

Toys R Us employs more than 60 thousand people in 38 countries around the world in more than 1600 stores. The company’s stocks fell by six percent after filing for Chapter 11 protection. US bankruptcy code Chapter 11 allows the company to restructure under a plan approved by the court. The company would also be shielded from creditors’ claims during the process. For the stores located in Canada, Toys R Us filed bankruptcy in Ontario and are to undergo reorganisation. However, 259 stores located outside the US or Canada will not undergo reorganisation, the company said.

Over 300 US-based retailers have filed for bankruptcy this year, and hundreds of stores closed.