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Wednesday, March 25, 2009

Treasury Department secretary Timothy Geithner and the Obama administration are pressuring Congress to allow the government to seize troubled financial institutions such as insurance companies and investment firms. Currently, banks are the only such entities that the government has authority to take over.

Speaking before the House Financial Services Committee, Geithner said “The United States government does not have the legal means today to manage the orderly restructuring of a large, complex non-bank financial institution that poses a threat to the stability of our financial system.”

Committee Chairman Barney Frank (D-MA) agreed, saying, “When non-bank major financial institutions need to be put out of their misery, we need to give somebody the authority to do what the FDIC can do with banks.”

Geithner would work with the White House and Federal Reserve to execute any such takeovers.

The expanded powers would have allowed the seizure of companies such as pariah AIG, which has already received US$180 billion in government aid. The recent controversy over the payment of bonuses has bumped up the plan to high priority. It was initially to have been part of a more comprehensive overhaul by the government of the financial regulatory system.

Not all are happy with the proposal. Republican House minority leader John Boehner derided the plan, saying it would be “an unprecedented grab of power.”

Maxine Waters (D-CA) criticised the government for its lack of transparency in dealing with the current crisis, and questioned Geithner on whether firms such as Goldman Sachs had received preferential treatment by the government. Such probing may indicate reluctance on the part of Congress to grant the expanded powers.

Other than simply taking over a firm, the government would also be able to purchase its assets, guarantee losses, and take out a partial ownership interest.

“It is a terrible, tragic thing that this country came into this crisis with such limited tools for trying to protect the economy itself from the kind of distress that would come as the system came back down to Earth,” Geithner summarized.

Tuesday, November 14, 2006

Christchurch, New Zealand‘s Jade stadium says they can host the 2011 Rugby World Cup final if Auckland can’t make a decision on whether or not they should build a new stadium on the waterfront or upgrade Auckland’s current stadium, Eden Park, costing NZ$500 million and $385 million respectively.

Jade Stadium would be able to host the final if they were to include temporary seating to accommodate 60,000 people, required by the International Rugby Board (IRB).

Gary Moore, mayor of Christchurch, said that if they were selected to host the final then they will ask the government for $80 million. The stadium is already planning for an upgrade, worth $60 million but that money will be funded from private and charitable organisations as well as the local and central governments. The current upgrade will see Jade stadium’s seating capacity grow to 43,000 and if they host a quarter-final or semi-final then temporary seating will increase the seats to 55,000.

Trevor Mallard, the Minister of Sport, said that the Auckland City Council and the Auckland Regional Council have both been given about two weeks to tell the government which decision it supports. If they cannot come to a decision then the final will most likely be given to Jade stadium, Christchurch. The least likeliest of all decisions, an upgrade of Carlaw park, but that is designated for a retirement home and on private land.

Mr Moore said that he and “stadium officials had offered Jade Stadium as a back-up final venue at a recent informal meeting with Mallard because of the continuing Auckland divisions over a site. This is about New Zealand Inc, not about Christchurch versus Auckland. What we have said to Trevor Mallard is we are able to put a stadium into Christchurch that would accommodate the numbers they would need as an insurance policy if Auckland cannot get its act together. The Government knows that when Christchurch or Canterbury puts its hand up it delivers with excellence.”

Bryan Pearson, chief executive of Vbase, the company which manages Jade Stadium, said: “It was not uncommon for major sporting venues to add temporary seating for big events. London had included temporary seating for some stadiums as part of its successful Olympic hosting bid. It was not a low-rent option, and was a commercially prudent way to marry short-term opportunity with long-term legacy.”

Mr Pearson hopes that Jade Stadium will not be used for the final as he understands why the government wants a national stadium, “Let’s hope this gets sorted and we can focus our attentions on playing a very major supporting role. We are only a third the size of Auckland, so what we can sustain post-World Cup is nowhere near what Auckland can.”

Warwick Taylor, former All Black, said it will be great if Christchurch can host the final even though he played in the 1987 final at Eden Park. Though Mr Taylor does say that an Auckland stadium is a better idea as a 60,000 seat stadium is more viable in such a large population city. Mr Taylor said that he “had great memories playing at Eden Park and in some ways would hate to see it lose the final. But I also like the idea of a national stadium.”

The New Zealand Rugby Union said that a waterfront stadium and an upgrade of Eden Park are the only two options being considered, and no other stadiums are being considered.

A lot of people are confirming that Christchurch will be able to cope with the huge amount of visitors that would arrive for the final as Christchurch has the highest per capita amount of restaurants and bars in Australasia. The city also features numerous hotels.

If New Zealand cannot deliver a final in a 60,000 seat World Class stadium then the IRB will allocated the final to another country.

Monday, November 28, 2005

SpaceX called off the much-delayed inaugural launch of their new Falcon 1 rocket on Saturday from Kwajalein’s Omelek Island launch site. The intent was to launch the U.S. Air Force Academy’s FalconSat 2 satellite, which will monitor plasma interactions with the Earth’s upper atmosphere and magnetosphere.

The launch was delayed, then finally cancelled after an oxygen boil-off vent had accidentally been left open. The oxygen was unable to cool the helium pressurant, which then proceeded to evaporate faster than it could be replenished. A main computer issue, probably serious enough to cause a scrub on its own, was also discovered.

This long-anticipated flight was originally expected to be launched in January 2005, however a series of setbacks forced a series of delays, with the flight most recently scheduled to be in early 2006. It was intended to be launched from the Kwajalein atoll in the middle of the Pacific Ocean.

The maiden voyage was originally intended to launch from Vandenberg Air Force Base in California with a Naval Research Laboratory satellite and a Space Services Incorporated space burial payload.

Saturday, December 14, 2013

At a meeting of the Council of Australian Governments yesterday leaders of the Australian states and territories agreed to a deal with Australian Prime Minister Tony Abbott which would delegate more environmental decision-making powers to the states and territories about projects that might affect the environment. The “one-stop shops” policy would mean that the states would do more of the assessments for projects with the intention that eventually some states would have the full authority to make the decisions.

Two states, Queensland and New South Wales, have agreed with Abbott a policy of “assessment bilaterals”. Abbott described them as follows: “Under those assessment bilaterals the states will do all the assessment work and we hope that in the not-too-distant future we will have approvals bilaterals in place which will mean the states will not only do the assessment but will also do the approvals.” All of the states and territories signed memoranda of understanding with the federal government on the issue of environmental regulation.

Tony Abbott argued it would not harm the environment and the “same high standards of environmental approval” would be used, but decisions would be quicker. The Australian government would still hold the power of veto over projects they deem environmentally problematic.

The Business Council of Australia welcomed the move, saying the regulation changes were a “long overdue breakthrough”.

The Australian Green Party has condemned the policy. Senator Larissa Waters, environment spokeswoman for the Greens, told reporters: “These deals pave the way for Tony Abbott to abolish a 30-year-old federal safeguard for our most precious natural places and wildlife, established when Bob Hawke stepped in to save the Franklin from being dammed […] Labor governments in South Australia, Tasmania and the ACT are trashing Bob Hawke’s legacy and contradicting federal Labor’s position”.

She continued: “Tony Abbott wants to put states and territories in charge of approving environmentally destructive projects that impact our World Heritage Areas and nationally endangered species.”

Jess Abrahams from the Australian Conservation Foundation also expressed opposition to the changes: “The memoranda of understanding signed today paves the way for the undoing of 30 years of national protection for places and species of national environmental importance”.

The Council also discussed truancy by indigenous students and the National Disability Insurance Scheme.

Wednesday, November 1, 2006

The New Zealand Medical Association (NZMA) has warned the public against taking party pills, even though they are legal in New Zealand. This warning comes because Benzylpiperazine, or BZP, can trigger hypothermia, seizures, paranoia, insomnia, anxiety, nausea, vomiting, palpitations and spasms of the muscle. Some of those side effects will occur if the person has taken 4.5 tablets.

Those who do take party pills should not mix them with medication, drugs or alcohol. Also those with mental illnesses are advised to steer clear of the pills.

Ross Boswell, chairman of the medical association, said: “There were growing concerns about the safety of BZP-based party pills,” and the legality of the pills is coming under fire. “If people insist on taking the pills, they should make sure they stick to the manufacturer’s recommended dose, of one or two pills, and not combine them with other stimulants.”

A study done at the Christchurch Hospital has shown that 61 patients had been to the emergency department a total of 80 times. Of those 80 times, 15 of them were toxic seizures and two patients presented life threatening conditions.

The pills are often sold as “herbal highs” but according to Boswell, there is nothing “herbal” about them as they were first made to treat cattle that had worms.

Boswell said: “Further research on the effects of BZP is soon to be released by the Health Minister,” as the New Zealand government is debating whether or not they should be banned or have their sale restricted.

Saturday, September 8, 2007

A minimum of 85 Hindu pilgrims have been killed in India and 64 injured after their lorry and trailer plunged 24m (80ft) into a river gorge late last night.

Approximately 150 people were on board when the driver lost control on a sharp bend near the village of Nagbavji, Rajasthan, smashing through a concrete crash barrier and continuing down into the valley, coming to rest inverted.

An overnight rescue operation was initiated, removing both survivors and bodies of the dead from the wreck, with the aid of cranes and spotlights. Ambulances and medical teams rushed to the scene from surrounding areas. Of the 64 who were hospitalised, three are reported to be in critical condition. The Press Trust of India reported that as many as 130 were injured, and Al Jazeera reported that there may have been 200 people on board. It is believed the death toll could rise still further, as many people remain trapped beneath the trailer.

The truck was a 12-wheeled model designed for hauling shipping containers, and was carrying pilgrims from three nearby villages Shiwal, Madri and Bhawa. The driver had offered to take them to their destination for free, a practise common in India, despite the fact that such trucks are not safe for passenger transport, being designed primarily as freight transporters.

The vehicle had been destined for the temple of Ramdev, a site considered by both Hindus and Muslims as being of high spiritual significance. The temple is the subject of an annual ten-day pilgrimage every September, which begins on September 13, although most of the 250,000 pilgrims who flock to the site arrive several days in advance of the festival.

The Chief Minister of Rajasthan Vasundhara Raje visited the three villages in which the victims resided. The local government has initiated a full inquiry into the disaster.

Wednesday, December 30, 2009

Peter Moore, a British IT consultant and computer programmer who was taken hostage by Iraqi militants during a May 2007 militant raid on the finance ministry in Baghdad, has been released alive and in good health.

He is the only known survivor of a group of five hostages, consisting of himself, three bodyguards, and Alan McMenemy, a security guard from Glasgow. The bodyguards (Alec Maclachlan, Jason Swindlehurst, and Jason Creswell) were later shot and killed, and their bodies have been returned to Britain. McMenemy is believed to have met the same fate. The last time Moore was known to be alive was when a DVD showing him was handed to Iraqi authorities earlier this year.

The five men were captured by a group of approximately forty men disguised as Iraqi policemen in May 2007, who are believed to belong to the Islamic Shia Resistance, an obscure militant organisation also known as the Righteous League. Moore is now in the British Embassy in Baghdad, and is to be reunited with his family as soon as possible, according to Milliband.

United Kingdom foreign secretary David Milliband said that he was “absolutely delighted at his release” after two and a half years of “misery, fear and uncertainty”. He claimed to be in a “remarkable frame of mind” after a “very moving” conversation with Moore. He also asked for the release of McMenemy’s body. He said that no “substantive concessions” had been made by the British government, instead praising Iraqi Prime Minister Nouri al-Maliki for his government’s process of reconciliation.

British Prime Minister Gordon Brown issued a statement in which he said he was “hugely relieved by the wonderful news that Peter has been freed”, calling for the British people to “remember the families of British hostages who have been killed in Iraq and elsewhere.” He continued with a pledge that the government would “continue to do everything [it] can to bring British hostages back to their loved ones, including the remaining hostage of the group in Iraq, Alan McMenemy”. He said, “I demand that the hostage takers return him to us.”

Moore’s father, Graeme, said he was “over the moon” about his son’s release, saying, “We are so relieved and we just want to get him home, back now to his family and friends. I’m breaking down, I’m just so overjoyed for the lad. It’s been such a long haul. I know that there have been one or two people working in the background to get Peter released. Peter is a very resilient lad and he always has been because of his background.” He said the British Foreign Office had been “obstructive” with regards to his son’s release.

Monday, February 26, 2007

Golfer Fuzzy Zoeller wants to sue the anonymous person who vandalised his article in the Wikipedia encyclopedia, a website resource almost anyone can edit.

An IP address from Josef Silny & Associates, a Miami education consulting firm, wrote a biased paragraph about him creating uproar from the golfer. The entry was posted twice: once sometime last year, and again in December 2006. The paragraph was removed last month, and deleted from the article history by Danny Wool, a staff member of the Wikimedia Foundation.

Zoeller is suing Josef Silny & Associates to find out who added this text.

“The Zoeller family wants to take a stand to put a stop to this. Otherwise, we’re all just victims of the Internet vandals out there. They ought not to be able to act with impunity,” said Zoeller’s attorney, Scott Sheftall.

The offensive edits, about which the suit is based, allegedly suggested that Zoeller admitted to consuming mass quantities of drugs and alcohol and beat his wife.

Through the court, Wikipedia can not be sued for a vandalous edit. The person or company, in this case, will be sued. In fact, the Wikimedia Foundation has not been contacted by Zoeller or his representatives about the lawsuit.

Monday, November 9, 2009

Former Formula One McLaren designer Gordon Murray has unveiled a new all-electric car.

The car model, which is known as the T.27, is due to be developed over the course of the next 16 months with four prototypes. The process that will be used during the course of the manufacturing of the vehicle is called iStream. The technology iStream had been invented by Gordon Murray in 1999 and means that all the parts are designed using a computer.

The project has approximately received £9,000,000 (US$14,919,000) in investment. The electric car is designed for urban purposes, such as in cities or towns. The weight of the vehicle is just 600 kilograms. It has the ability to travel at speeds of up to 60 miles per hour and can go for a maximum of 100 miles between recharges.

The designer thinks that motorists will some day be travelling in vehicles like this. Murray believes that the new car will be ‘the most efficient electric vehicle on earth’.

Friday, September 26, 2008

On October 14, 2008, Canadians will be heading to the polls for the federal election. Christian Heritage Party candidate John M. Wierenga is standing for election in the riding of Yellowhead. A journeyman welder with a company in Neerlandia, Alberta, John is an active member of the Neerlandia Canadian Reformed Church. Serving on his church council, he actively volunteers in the community, serving a partial term on the Pembina Pro-Life Board.

Wikinews contacted John, to talk about the issues facing Canadians, and what they and their party would do to address them. Wikinews is in the process of contacting every candidate, in every riding across the country, no matter their political stripe. All interviews are conducted over e-mail, and interviews are published unedited, allowing candidates to impart their full message to our readers, uninterrupted.

Since 2000, the riding has been represented by Conservative Rob Merrifield, originally a Canadian Alliance member. Besides Wierenga, other challengers for the riding include Melissa Brade (Canadian Action), Mohamed El-Rafih (Liberal), Ken Kuzminski (NDP), and Monika Schaefer (Green).

For more information, visit the campaign’s official website, listed below.