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6.0 magnitude earthquake rocks eastern Turkey

Tuesday, March 9, 2010

A 6.0-magnitude earthquake struck Basyurt, in the Elazig province or eastern Turkey at 04:32 AM (02:32 GMT) on Monday. According to local Kandilli observatory, the quake struck at a depth of five kilometres; the epicenter was near Karakocan town in the same province.

The pre-dawn earthquake killed at least 40 people and almost 100 were injured. The village of Okcular was worst hit, claimed the press secretary for the provincial governor, Ozcan Yalcin. According to the U.S. Geological Survey, nearly five hours later, a magnitude-5.5 aftershock hit the province. 40 other aftershocks followed shortly, the highest of them being 4.4 magnitude, according to sources.

While no deaths were immediately reported, the government’s crisis management center soon put the toll at seventeen with another 60 injured according to the officials at Ankara, the capital. It was soon confirmed that at least 39 were dead; the toll is expected to rise. At least four of the victims were children.

Muammer Erol, the provincial governor of Elazig, stated Okcular, Yukari Kanatli and Kayali accounted for majority of the dead. He told CNN Turk that “villages consisting mainly of mud-brick houses have been damaged, but we have minimal damage such as cracks in buildings made of cement or stone”.

Okcular, the largest of the affected villages, accounted for at least seventeen of the dead. The village has a population of 800, and the majority of the dwellers live in mud-brick homes built on hillsides. About 25 to 30 houses were demolished in this village. “The village is totally flattened,” Hasan Demirdag, local administrator, told NTV.

Yadin Apaydin, the administrator of Yukari Kanatli, said his village had been severely affected. “Everything has been knocked down – there is not a stone in place,” he told CNN’s Turkey sister network, CNN Türk.

“Many houses have collapsed. Search and rescue teams have been sent to the area,” said the prime minister’s office in a statement. Injured people are being rushed to local hospitals according to sources. At least 100 people have been taken to hospital. Some who panicked after the first quake jumped from balconies or windows were injured.

Rescue workers, consisting of policemen as well as civilians dug with shovels to rescue people from the debris. The Turkish Red Crescent is also sending tents and blankets to be distributed. Neighboring districts are providing ambulances to assist the victims. Cemil Cicek, deputy Prime Minister of Turkey has left for the disaster area. Health Minister Recep Akdag, Housing Minister Mustafa Demir and State Minister Cevdet Yilmaz are accompanying him.

According to CNN Türk, the tremor of the earthquake was felt in the adjacent provinces of Bitlis and Diyarbakir, causing residents to panic.

Turkey lies on highly active fault lines and earthquakes often hit the nation. A 7.4-magnitude earthquake in Istanbul killed 20,000 people in August 1999. Most of the earthquakes that hit Turkey are usually minor.

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NTSB releases updates on status of 3 major US investigations

Sunday, June 17, 2007

The National Transportation Safety Board (NTSB), the agency responsible for investigating transportation accidents in the United States, released updates on three major investigations on June 14.

The NTSB, well known publicly for its involvement in the investigation of aviation incidents which involve harm or loss of human life, is also an agency that oversees the transportation of refined petroleum and gas products, chemicals and minerals.

The agency determined the cause of a natural gas pipeline explosion that killed six. It also detailed the cause of an accidental release of 204,000 gallons of anhydrous ammonia from a pipeline in an environmentally sensitive area, and released preliminary information involving two commercial aircraft coming within 30-50 feet of each other on a runway.

In the gas explosion disaster, the towing vessel Miss Megan, which was of specifications that did not require inspection by the United States Coast Guard, was being operated in the West Cote Blanche Bay oil field in Louisiana by Central Boat Rentals on behalf of Athena Construction on October 12, 2006. The Miss Megan was pushing barge IBR 234, which was tied along the starboard side of barge Athena 106, en route to a pile-driving location. Athena Construction did not require its crews to pin mooring spuds (vertical steel shafts extending through wells in the bottom of the boat and used for mooring) securely in place on its barges and consequently this had not been done. During the journey, the aft spud on the Athena 106 released from its fully raised position. The spud dropped into the water and struck a submerged, high-pressure natural gas pipeline. The resulting gas released ignited and created a fireball that engulfed the towing vessel and both barges. The master of the towing vessel and four barge workers were killed. The Miss Megan deckhand and one barge worker survived. One barge worker is officially listed as missing.

The NTSB blames Athena Construction for the disaster, citing in the final report that Athena Construction’s manual contained no procedures mandating the use of the safety devices on the spud winch except during electrical work. It was found that if the Athena 106 crew had used the steel pins to secure the retracted spuds during their transit, a pin would have prevented the aft spud from accidentally deploying. Furthermore, the spud would have remained locked in its lifted position regardless of whether the winch brake mechanism, the spud’s supporting cable, or a piece of connecting hardware had failed.

The NTSB also found that contributing to the accident was the failure of Central Boat Rentals to require, and the Miss Megan master to ensure, that the barge spuds were securely pinned before getting under way. The Board noted that investigators found no evidence that the Miss Megan master or deckhand checked whether the spuds had been properly secured before the tow began. While Central Boat Rentals had a health and safety manual and trained its crews, the written procedures did not specifically warn masters about the need to secure spuds or other barge equipment before navigating. The NTSB stated that the company’s crew should have been trained to identify potential safety hazards on vessels under their control.

NTSB Chairman Mark Rosenker said of the investigation’s results, “Having more rigorous requirements in place could have prevented this accident from occurring. Not only do these regulations need to be put in place but it is imperative that they are enforced and adhered to.”

The NTSB has made a number of safety recommendations as a result of this accident and the subsequent investigation. Recommendations were made to Athena Construction and Central Boat Rentals to develop procedures and train the employees of its barges to use the securing pins to hold spuds safely in place before transiting from one site to another.

The most major of the other recommendations are:

To the Occupational Safety and Health Administration:

  • Direct the Maritime Advisory Committee for Occupational Safety and Health to issue the following documents document to the maritime industry: (1) a fact sheet regarding the accident, and (2) a guidance document regarding the need to secure the gear on barges, including spud pins, before the barges are moved, and detailing any changes to your memorandum of understanding with the Coast Guard.

To the U. S. Coast Guard

  • Finalize and implement the new towing vessel inspection regulations and require the establishment of safety management systems appropriate for the characteristics, methods of operation, and nature of service of towing vessels.
  • Review and update your memorandum of understanding with the Occupational Safety and Health Administration to specifically address your respective oversight roles on vessels that are not subject to Coast Guard inspection.

The NTSB also released the result of its investigation into an environmental disaster in Kansas on October 27, 2004 in which 204,000 gallons (4,858 barrels) of anhydrous ammonia was spilled from a ruptured pipeline in Kingman into an environmentally sensitive area. Chemicals from the pipeline entered a nearby stream and killed more than 25,000 fish, including some fish from threatened species.

The incident reached the scale that it did due to operator error after the initial rupture. The 8 5/8-inch diameter steel pipeline, which was operated by Enterprise Products Operating L.P., burst at 11:15 a.m. in an agricultural area about 6 miles east of Kingman, Kansas. A drop in pipeline pressure, indicating abnormal conditions or a possible compromise in pipeline integrity, set off alarms displayed on the computerized pipeline monitoring system. Shortly after the first alarm the pipeline controller, in an attempt to remedy the low pressure, increased the flow of anhydrous ammonia into the affected section of pipeline. A total of 33 minutes elapsed between the time when the first alarm indicated a problem with the pipeline and the initiation of a shutdown.

In its initial report to the National Response Center (NRC), the pipeline operator’s accident reporting contractor reported a release of at least 20 gallons of ammonia, telling the NRC that an updated estimate of material released would be reported at a later time. No such report was ever made. Because of the inaccurate report, the arrival of representatives from the Environmental Protection Agency was delayed by a full day, affecting the oversight of the environmental damage mitigation efforts.

The cause of the rupture itself was determined to be a pipe gouge created by heavy equipment damage to the pipeline during construction in 1973 or subsequent excavation activity at an unknown time that initiated metal fatigue cracking and led to the eventual rupture of the pipeline.

“We are very fortunate that such highly toxic chemicals of the size and scope involved in this accident were not released in a populated area,” commented Rosenker. “Had this same quantity of ammonia been released near a town or city, the results could have been catastrophic.”

As a result of this accident, the NTSB made the following safety recommendations:

To the Pipeline and Hazardous Materials Safety Administration:

  • Require that a pipeline operator must have a procedure to calculate and provide a reasonable initial estimate of released product in the telephonic report to the National Response Center.
  • Require that a pipeline operator must provide an additional telephonic report to the National Response Center if significant new information becomes available during the emergency response.
  • Require an operator to revise its pipeline risk assessment plan whenever it has failed to consider one of more risk factors that can affect pipeline integrity.

To Enterprise Products Operating L.P.:

  • Provide initial and recurrent training for all controllers that includes simulator or noncomputerized simulations of abnormal operating conditions that indicate pipeline leaks.

“The severity of this release of dangerous chemicals into the community could have been prevented,” said Rosenker. “The safety recommendations that we have made, if acted upon, will reduce the likelihood of this type of accident happening again.”

As well as concluding their investigation of the above accidents, the NTSB also released preliminary information regarding a serious runway incursion at San Francisco International Airport between two commercial aircraft on May 26, 2007.

At about 1:30 p.m. the tower air traffic controller cleared SkyWest Airlines flight 5741, an Embraer 120 arriving from Modesto, California, to land on runway 28R. Forgetting about the arrival airplane, the same controller then cleared Republic Airlines flight 4912, an Embraer 170 departing for Los Angeles, to take off from runway 1L, which intersects runway 28R.

After the SkyWest airliner touched down, the Airport Movement Area Safety System (AMASS) alerted and the air traffic controller transmitted “Hold, Hold, Hold” to the SkyWest flight crew in an attempt to stop the aircraft short of runway 1L. The SkyWest crew applied maximum braking that resulted in the airplane stopping in the middle of runway 1L. As this was occurring, the captain of Republic Airlines flight 4912 took control of the aircraft from the first officer, realized the aircraft was traveling too fast to stop, and initiated an immediate takeoff. According to the crew of SkyWest 5741, the Republic Airlines aircraft overflew theirs by 30 to 50 feet. The Federal Aviation Administration has categorized the incident as an operational error.

The NTSB sent an investigator to San Francisco, who collected radar data, recorded air traffic control communications, and flight crew statements, and interviewed air traffic control personnel prior to the NTSB making the preliminary release.

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Hubble Space Telescope’s main camera stops working

Sunday, June 25, 2006

The Hubble Space Telescope’s (HST) main camera has ceased to function.

The telescope revolutionized astronomy with its stunning pictures of the universe. It has three separate electronic cameras and a collection of filters and light dispersers that are used to photograph distant celestial objects. The third-generation instrument installed by a space shuttle crew in 2002 went off line Monday. Engineers are still working to rectify the situation, but have not yet identified the source of the problem. The other two cameras are being used while repair efforts on the main camera continue.

“It’s still off line today,” said Max Mutchler, an instruments specialist at the Space Telescope Science Institute in Baltimore.

The cause of the main camera’s malfunction may be a faulty transistor or a disruption to the camera’s memory. “Both possibilities are things that can be resolved here on the ground,” said Ed Campion, a NASA spokesman at the Goddard Space Flight Center outside Washington, D.C. He also told the Associated Press Saturday that “he was hopeful the problem on the space-based telescope could be fixed from the ground.”

A solution could come as early as June 30.

NASA scientists say the studies being carried out with the Hubble will not be harmed, just the order reshuffled.

Hubble, launched in April 1990, is beginning to show its age. It needs new batteries and gyroscopes if it is to keep working beyond next year.

Early last year it was announced that Hubble would be cut from NASA’s 2006 fiscal year budget. However, there have been questions about the future of Hubble, with the famous space telescope in need of service and power if it is to continue to be active in 2007.

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Steve Fossett breaks record for longest nonstop flight, lands safely

Saturday, February 11, 2006File:Steve Fossett 04.jpg

Steve Fossett, 61, has broken the record for flying the longest nonstop flight in aviation history and has landed safely in England although, Steve Ridgeway chief executive of Virgin Atlantic, the company sponsoring Fossett’s record bid said, “he burst two tires on landing and the poor GlobalFlyer had to be dragged off the runway.”

Fossett had to land at Bournemouth Airport in Dorset instead of his planned destination of Manston Airport in Kent, because of generator problems.

After the flight, Fossett told the press, “I was really lucky to make it here today, there was a lot going on. The tension of the final part really took it out of me, but I will be fine in the morning.”

Fossett broke the previous record of 25,361 miles (40,210 km) (set by Dick Rutan flying the lightweight Voyager aircraft in 1986) when he passed over Shannon Ireland, even though he lost 750 pounds of fuel just after take-off from Kennedy Space Center Wednesday. His record has been recorded to have been broken at; 11:59am on February 11, 2006, (EST). His trip has taken about 80 hours (3 1/2 days) and covered 26,389.3 miles (42,469 km).

The plane Fossett was flying is a lightweight experimental aircraft. The GlobalFlyer is the only plane to make a non-stop circumnavigation of the earth on one tank of fuel.

Fossett has broken 110 world records.

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Woman returns home with Christmas turkey, a month after setting out

Tuesday, January 19, 2010

A Scottish woman who set out before Christmas to purchase a turkey finally made it home on Monday, after being cut off by snow for a month. Kay Ure left the Lighthouse Keeper’s cottage on Cape Wrath, at the very northwest tip of Great Britain, in December. She was heading to Inverness on a shopping trip.

However on her return journey heavy snow and ice prevented her husband, John, from travelling the last 11 miles to pick her up. She was forced to wait a month in a friend’s caravan, before the weather improved and the couple could finally be reunited.

They were separated not just for Christmas and New Year, but also for Mr Ure’s 58th birthday. With no fresh supplies, he was reduced to celebrating with a tin of baked beans. He also ran out of coal, and had to feed the couple’s six springer spaniels on emergency army rations.

“It’s the first time we’ve been separated”, said Mr Ure in December. “We’ve been snowed in here for three weeks before, so we are well used to it and it’s quite nice to get a bit of peace and quiet.”

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January

27

Asbestos controversy aboard Scientology ship Freewinds

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Asbestos controversy aboard Scientology ship Freewinds
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Friday, May 16, 2008

Controversy has arisen over the reported presence of blue asbestos on the MV Freewinds, a cruise ship owned by the Church of Scientology. According to the Saint Martin newspaper The Daily Herald and the shipping news journal Lloyd’s List, the Freewinds was sealed in April and local public health officials on the Caribbean island of Curaçao where the ship is docked began an investigation into the presence of asbestos dust on the ship. Former Scientologist Lawrence Woodcraft supervised work on the ship in 1987, and attested to the presence of blue asbestos on the Freewinds in an affidavit posted to the Internet in 2001. Woodcraft, a licensed architect by profession, gave a statement to Wikinews and commented on the recent events.

According to The Daily Herald, the Freewinds was in the process of being renovated by the Curaçao Drydock Company. The article states that samples taken from paneling in the ship were sent to the Netherlands, where an analysis revealed that they “contained significant levels of blue asbestos”. An employee of the Curaçao Drydock Company told Radar Online in an April 30 article that the Freewinds has been docked and sealed, and confirmed that an article about asbestos ran in the local paper.

Lloyd’s List reported that work on the interior of the Freewinds was suspended on April 27 after health inspectors found traces of blue asbestos on the ship. According to Lloyd’s List, Frank Esser, Curaçao Drydock Company’s interim director, joined Curaçao’s head of the department of labor affairs Christiene van der Biezen along with the head of the local health department Tico Ras and two inspectors in an April 25 inspection of the ship. “We are sending someone so that they can tell us what happened, where it came from, since when it has been there,” said Panama Maritime Authority’s director of merchant marine Alfonso Castillero in a statement to Lloyd’s List.

The Church of Scientology purchased the ship, then known as the Bohème, in 1987, through an organization called Flag Ship Trust. After being renovated and refitted, it was put into service in June 1988. The ship is used by the Church of Scientology for advanced Scientology training in “Operating Thetan” levels, as well as for spiritual retreats for its members. Curaçao has been the ship’s homeport since it was purchased by the Church of Scientology.

According to his 2001 statement, Lawrence Woodcraft had been an architect in London, England since 1975, and joined Scientology’s elite “Sea Organization” (Sea Org) in 1986. He wrote that he was asked by the Sea Org to work on the Freewinds in 1987, and during his work on the ship “noticed a powdery blue fibrous substance approximately 1 ½” thick between the paint and the steel wall,” which he believed to be asbestos. He also discovered what he thought was blue asbestos in other parts of the ship, and reported his findings to Church of Scientology executives. Woodcraft discussed his experiences in a 2001 interview published online by the Lisa McPherson Trust, a now-defunct organization which was critical of the Church of Scientology.

The Freewinds regularly inspects the air quality on board and always meets or exceeds US standards.

Church of Scientology spokeswoman Karin Pouw responded to Radar Online about the asbestos reports, in an email published in an article in Radar on May 1. “The Freewinds regularly inspects the air quality on board and always meets or exceeds US standards,” said Pouw. She stated that two inspections performed in April “confirmed that the air quality is safe,” and asserted that the inspections revealed the Freewinds satisfies standards set by the United States Occupational Safety and Health Administration and the U.S. Clean Air Act.

Pouw told Radar that “The Freewinds will be completing its refit on schedule.” The Church of Scientology-affiliated organization Citizens Commission on Human Rights (CCHR) had been planning a cruise aboard the Freewinds scheduled for May 8, but according to Radar an individual who called the booking number for the cruise received a message that the cruise had been delayed due to ongoing work on the ship. Citing an article in the Netherlands Antilles newspaper Amigoe, Radar reported on May 6 that a team from the United States and supervised by an independent bureau from the Netherlands traveled to Curaçao in order to remove asbestos from the Freewinds.

…if the Church of Scientology claims to have removed the blue asbestos, I just don’t see how, it’s everywhere. You would first have to remove all the pipes, plumbing, a/c ducts, electrical wiring etc. etc. just a maze of stuff.

“I stand by everything I wrote in my 2001 affidavit,” said Lawrence Woodcraft in an exclusive statement given to Wikinews. Woodcraft went on to state: “I would also comment that if the Church of Scientology claims to have removed the blue asbestos, I just don’t see how, it’s everywhere. You would first have to remove all the pipes, plumbing, a/c ducts, electrical wiring etc. etc. just a maze of stuff. Also panelling as well, basically strip the ship back to a steel hull. Also blue asbestos is sprayed onto the outer walls and then covered in paint. It’s in every nook and cranny.”

Many Scientologist celebrities have spent time aboard the Freewinds, including Tom Cruise, Katie Holmes, John Travolta, Kelly Preston, Chick Corea, Lisa Marie Presley, Catherine Bell, Kate Ceberano, and Juliette Lewis. Now magazine reported that Tom Cruise has been urged to seek medical attention regarding potential asbestos exposure, however a representative for Cruise stated he has “absolutely no knowledge” of the recent asbestos controversy. Cruise, Holmes, Travolta and Preston have celebrated birthdays and other events on the Freewinds.

There is not now and never has been a situation of asbestos exposure on the Freewinds.

In a May 15 statement to the United Kingdom daily newspaper Metro, a representative for the Church of Scientology said that “There is not now and never has been a situation of asbestos exposure on the Freewinds.” The Asbestos and Mesothelioma Center notes that agencies have recommended anyone who has spent time on the Freewinds consult with their physician to determine if possible asbestos exposure may have affected their health.

Raw blue asbestos is the most hazardous form of asbestos, and has been banned in the United Kingdom since 1970. Blue asbestos fibers are very narrow and thus easily inhaled, and are a major cause of mesothelioma. Mesothelioma is a form of cancer which can develop in the lining of the lungs and chest cavity, the lining of the abdominal cavity, or the pericardium sac surrounding the heart. The cancer is incurable, and can manifest over 40 years after the initial exposure to asbestos.

“This is the most dangerous type of asbestos because the fibres are smaller than the white asbestos and can penetrate the lung more easily,” said toxicologist Dr. Chris Coggins in a statement published in OK! Magazine. Dr. Coggins went on to note that “Once diagnosed with mesothelioma, the victim has six months to a year to live. It gradually reduces lung function until the victim is no longer able to breathe and dies.”

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January

27

Contaminated pet food causes massive recall

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Contaminated pet food causes massive recall
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Monday, March 19, 2007

At least 10 pets, 9 cats and 1 dog have died as a result of eating contaminated pet food, says the United States Food and Drug Administration, or FDA. The contamination caused cats and dogs to both go into kidney failure.

At least 51 brands of cat food and 40 brands of dog food have been recalled. The manufacturer of the food is Menu Foods, which is based in Mississauga, Ontario in Canada. The brands include: Iams, Nutro, and Eukanuba pet foods. Nestle, Purina PetCare Co., Procter & Gamble and Hill’s Pet Nutrition Inc. are voluntarily recalling their pet foods as a precaution. The FDA says that only wet food has been reported to have caused the deaths. The food was sold between December of 2006 and March 3 of 2007. The recall includes pouches and cans of wet food that total over 60 million.

“We are still trying to find out what the true picture is out there of animals. We’re talking about 1 percent of the pet food [supply] and it’s really just impossible to extrapolate at this point,” reported the FDA’s head veterinarian, Stephen F. Sundlof.

The manufacturer is currently performing tests to determine what might have caused the contamination, but so far, the source has not been identified.

“We’re testing and testing, but we can’t identify the problem in the product,” said Sarah Tuite, a spokeswoman for Menu Foods.

Anywhere from 40 to 50 cats and dogs were fed the contaminated food during testing by Menu Foods, and at least seven of those animals died. The species or how many cats or dogs died during testing is not known.

The FDA says that the possible cause of the contamination could be from heavy metals, lead or fungi inside wheat gluten which is used in pet foods as a “filler.”

A complete list of the products recalled can be found here: Menu Foods Recall List. Pet owners are urged to stop using any and all food on that list that may still be in their home. Owners are also asked to seek immediate veterinarian attention if the pets are suspected of eating the food.

The recall could cost over 30 million USD.

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January

26

Global markets plunge

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Global markets plunge
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Friday, October 10, 2008

Stock markets across the world have fallen sharply with several seeing the biggest drop in their history.

Asian markets saw the biggest sell-off. The Nikkei dropped 9.62% to reach a 20 year low. Japan also saw a collapse of a mid-size insurance company, Yamato Life Insurance Company, which declared bankruptcy. The Hang Seng, which was one of the few markets that was positive yesterday, fell 7.19%. Australia dropped by 8.4% and South Korea saw a 9% fall.

In Europe, markets dropped at the open with the FTSE losing 11%. They have recovered only sightly with all European markets losing more than 5%. The European sell off was more about the Asian lows then any specific news. European banks and financial institutes saw the most selling. Also, oil related companies saw large drops as an result of an expected decrease in oil consumption.

The U.S. markets opened lower with the Dow Jones Industrial Average falling below 8,000, before recovering slightly. President George W. Bush made an address on the economy and said markets were being “driven by uncertainty and fear.”

Oil has seen losses of more than US$6 in trading with the current price of a barrel of oil less than $80. This is a year low for oil. News also came out that OPEC will hold an emergency meeting on November 18 to discuss the falling price of oil.

Charities, such as Cats Protection, today said that they have lost much of their funds in collapsing banks. Cats Protection had a total of £11.2 million saved in the now-collapsed Kaupthing bank.

The British National Council for Voluntary Organisations said that 60 of its 6,500 have lost money due to the collapse of banks.

Contents

  • 1 Stock markets
    • 1.1 Dow Jones Industrial Average
    • 1.2 FTSE 100
    • 1.3 Nikkei 225
  • 2 International reaction
    • 2.1 George W. Bush
    • 2.2 Gordon Brown
    • 2.3 Jim Flaherty
  • 3 Market data
  • 4 Sources

The Dow Jones Industrial Average fell to its lowest level in five years at 8,579.19, falling 679 points in one day. This, at 7.3%, is the eleventh largest percentage fall in the history of the index. The growth then continued, with the index being up over 150 points on the start of the day at one point.

The index, did however, recover, and as of 19:30 UTC was up 17.68 points, or 0.21%, pushing the index up to almost 8600.

Peter Cardillo, chief market economist at Avalon Partners, commented on these massive falls. “What we’ve seen here was one big margin call that just kept feeding on itself, so the opposite could happen. But you need a catalyst,” he said. “I’m more convinced now than ever that this market has made a bottom. The capitulation came when we breached 8,000,” he continued. “It doesn’t mean we can’t go back and revisit that level.”

The UK’s FTSE 100 index fell dramatically to close below 4000, in the index’s worst week in history. This is despite the fact that just a few days ago the index was above 5000, and the index peaked above 5500 in September.The FTSE 100 index has fallen by 41% this year.

Barclays Wealth analyst Henk Potts commented on this massive fall. “We are drowning in a sea of red numbers,” he claimed. “Investors are concerned about the exacerbation of the credit crunch and the gloomy forecasts for economic growth. The reality is that most investors have been spooked by the sheer pressure that the credit crunch is putting on the global economy.”

The Japanese Nikkei 225 has recorded it’s third biggest drop in history with a massive sell-off in the exchange that has resulted in USD 250 billion being knocked of the index’s value.

Toyota, which is the second largest carmaker in the world, fell by the largest amount in 21 years, while Elpida Memory, the world’s largest manufacturer of computer memory, dropped in value to a record low.

Masafumi Oshiden, a fund manager in Toyota commented on the drop.”It’s capitulation,” he said. “There are lots of forced sellers. If you’re a fund that’s going bust you need to close out all your positions.”

George W. Bush commented on the financial situation earlier today. “Over the past few days, we have witnessed a startling drop in the stock market — much of it driven by uncertainty and fear,” he said. “This has been a deeply unsettling period for the American people. Many of our citizens have serious concerns about their retirement accounts, their investments, and their economic well-being.”

Bush then continued by promoting the government’s plan’s to get through the crises. “Here’s what the American people need to know: that the United States government is acting; we will continue to act to resolve this crisis and restore stability to our markets. We are a prosperous nation with immense resources and a wide range of tools at our disposal. We’re using these tools aggressively.”

Gordon Brown, the UK Prime Minister, also spoke on the economy. “I think we quickly realised that we cannot solve the problems we have got as a result of the sub-prime market collapse simply by improving liquidity,” he said speaking in Birmingham to business leaders earlier today. “That would simply not be enough to deal with the bigger problem of rebuilding the banking system for the future and restoring trust is a fundamental element of that.”

Jim Flaherty, the Canadian minister for finance, also commented today on the recent incidents in the economy. “It is important to underline that Canada’s banks and other financial institutions are sound, well capitalized and less leveraged than their international peers,” he claimed. “Our mortgage system is sound. Canadian households have smaller mortgages relative both to the value of their homes and to their disposable incomes than in the U.S.”

“”However, it is becoming increasingly clear that the continuing disruption of global credit markets, which has been severe and protracted, is making it difficult for our financial institutions to raise long-term funding. This is beginning to affect the availability of mortgage loans and other types of credit in Canada,” he continued. “The Government has therefore decided to act to address the current scarcity of private sector lending to Canadian mortgage markets and lending markets overall. This is going to make loans and mortgages more available and more affordable for ordinary Canadians and businesses.”

20:15, 10 October, 2008 (UTC)
  • DJIA
  • 8.451,19 128,00 1,49%
  • Nasdaq
  • 1.649,51 4,39 0.27%
  • S&P 500
  • 899,22 10,70 1,18%
  • S&P TSX
  • 9.264,57 335,61 3.50%
  • IPC
  • 19.952,30 357,87 1,76%
  • Merval
  • 1.215,990 71.340 5,54%
  • Bovespa
  • 35.615,26 1,474.03 3,97%
  • FTSE 100
  • 3.932,06 381,74 8,85%
  • DAX
  • 4.544,31 342,69 7,01%
  • CAC 40
  • 3.176,49 266,21 7,73%
  • SMI
  • 5.347,22 451,62 7,79%
  • AEX
  • 258,05 23,92 8,48%
  • BEL20
  • 2.123,44 117,44 5,24%
  • MIBTel
  • 15.438,00 1,081,00 6,54%
  • IBEX 35
  • 8.997,70 905,20 9,14%
  • All Ordinaries
  • 3.939,50 351,80 8,20%
  • Nikkei
  • 8.276,43 881,06 9,62%
  • Hang Seng
  • 14.796,90 1,146,37 7,19%
  • SSE Composite
  • 2.000,57 74,01 3,57%

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    January

    26

    Tanker truck fire causes collapse on Oakland Freeway

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    Tanker truck fire causes collapse on Oakland Freeway
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    Sunday, April 29, 2007

    A tanker truck carrying approximately 8,600 gallons of unleaded gasoline caught on fire on the Interstate 80/880 interchange in Oakland, California early Sunday morning around 3:40 AM. The fire resulted in the collapse of at least two sections of bridges at the interchange, including one carrying I-580. The multi-level freeway interchange known as the MacArthur Maze connects the Bay Bridge (Interstate 80) to Interstates 580, 880, and 980 and California State Highway 24, and as such it connects several major cities in California, including San Francisco, Oakland, and Berkeley.

    The driver, James Mosqueda, 51, of Woodland, California, escaped from his truck before the fire. He was the only person reported to be hurt, suffering second-degree burns. No other vehicles were involved in the crash.

    The driver was believed to be speeding, resulting in a loss of control of the truck, causing it to flip over and subsequently burst into flames. As the truck was traveling on the interchange of I-80 eastbound to I-880 southbound near the San Francisco Bay Bridge, it is speculated to have hit a guard rail or column during a turn. Shortly thereafter, it exploded into a fire that lasted several hours.

    Caltrans officials have announced that repairs will be fast-tracked, but will still take several weeks. Public transit has responded with plans to increase service and re-route buses that used the destroyed interchange.

    Gov. Schwarzenegger has declared a state of emergency that in addition to expediting repairs will suspend restrictions on truck traffic hours and provide free use of area public transportation on Monday, April 30.

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    January

    26

    Patient in Buckinghamshire hospital was treated in toilet, inquiry hears

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    Patient in Buckinghamshire hospital was treated in toilet, inquiry hears
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    Saturday, October 9, 2010

    A patient at Stoke Mandeville Hospital had to be treated in a toilet after wards became overcrowded, it emerged on Friday.

    The revelation came as Sheryl Pope, a Buckinghamshire National Health Service strategy director, was questioned over plans to bring healthcare to the forefront of the community. A number of councillers challenged her plans, however, claiming that the opposite had been happening.

    The Bucks Free Press reported that councillors asked Pope why community hospital beds are being closed and why more clinics are being centralised. The Overview & Scrutiny Committee for Public Health Services was told that an “under-used” gynaecology clinic located at Buckingham Community Hospital was moved to Stoke Mandeville, which one councillor said was already too congested.

    One person had to be treated in the toilet. I’m wondering how quickly you’re going to change it.

    “You’re bringing things into Stoke, but there’s such a lot of congestion there… One person had to be treated in the toilet. I’m wondering how quickly you’re going to change it,” High Wycombe councellor Wendy Mallen asked Mrs Pope, a joint director for strategy and system reform.

    It emerged that overnight wards at Chalfont’s and Gerrards Cross Hospital have remained closed since a fire risk was identified in 2008. Chalfont St Peter councillor, Bruce Allen, said of the revelation: “We’ve never had an answer from anyone of any intelligence to say what’s going to happen. We had a community hospital with 29 beds and it served us well. We keep asking when it’s going to be opened and we get nil answers. I’ve been to so many meetings and heard this nonsense. We can’t get an answer from anyone.”

    Mrs Pope replied by saying that she could not give a “definitive answer,” but said that she considered Chalfont’s to be “an important part of the jigsaw.” Mrs Pope was told by the chairman of the Buckinghamshire County Council committee that she had “a duty” to inform residents of the futue of the hospital. “Unfortunately there’s always a reason for delaying it,” said Mike Appleyard. “All I’m saying is sorry, no longer. We expect you to be here within six months with some answers on the community hospitals.”

    Hedley Cadd, another councillor, attacked the gynaecology transfer, saying that he and his wife were forced to travel for four hours to get to and from Stoke Mandeville Hospital, for a consultation that lasted only twenty minutes. Mrs Pope responded by saying that she was “very aware” of the issue, conceding that because the clinic is only 40% full, “those clinics are being denied to somebody else.” Mrs Pope said that it was too early to say how the Buckinghamshire Healthcare NHS Trust, a new organisation which is the result of a merger between the Buckinghamshire Hospitals NHS Trust and several community hospitals, would manage local hospitals.

    Anne Eden, Chief Executive of the new organisation, said: “We felt it was important to change our name to reflect the wide range of services we now offer patients from our hospitals and in community settings and in people’s own homes. In addition, discussions took place with staff across the organisation alongside patient representatives to evolve our five patient promises to reflect our extended range of services which underpin everything that we do.”

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