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U.S. Senate approves revised bailout package after controversial additions

Saturday, October 4, 2008

The U.S. Senate passed a revised bailout bill designed to help the struggling U.S. financial economy, which has measures nearly identical to the bill rejected by the U.S. House of Representatives on Monday.

“Senate Democrats and Republicans believe it is essential that we work quickly on this important legislation to restore confidence to our financial system and strengthen the economy,” said Senate Majority Leader Harry Reid.

The new revisions include raising the FDIC insurance cap to $250,000, a move designed to please progressives. However, the $110 billion in tax breaks, earmarks and what has been called pork barrel spending is not offset by any increases in revenues and has added opposition to the bill from some Representatives in the House.

Earmarks added into the bailout bill included $192 million in tax rebates for the Virgin Islands rum industry, $148 million in tax cuts for the wool industry, $100 million tax cuts to the auto racing industry, and $48 million in Hollywood tax incentives.

Vice President of Taxpayers for Common Sense, Steve Ellis, offered his explanation for the pork and earmarks added in. “People who support some of these provisions will forget about the $700 billion and concerns they may have on that, and say, ‘If you give me a few million in tax breaks for my constituents, I’ll go along'”.

The tactic seems to have worked, however, managing to flip enough votes to pass the bill.

“The inclusion of parity, tax extenders and the FDIC increases has caused me to reconsider my position,” said Representative Jim Ramstad (R Minnesota), who voted against the previous bill on Monday. “All three additions have greatly improved the bill.”

But Representative Marcy Kaptur (D Ohio) was not changing her no vote. “I will not support this legislation because it’s the wrong medicine,” she said.

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The Senate took H.R.1424, a bill originating in the House concerning “equity in the provision of mental health and substance-related disorder benefits under group health plans, to prohibit discrimination on the basis of genetic information with respect to health insurance and employment,” and extended it with the bailout provisions.

H.R.1424 was introduced on March 9, 2007, by Rep. Patrick Kennedy (RI-1) and had the support of First Lady Rosalind Carter. It is noted on the Congressional Website that “On 10/1/2008, the Senate passed H.R.1424 as the vehicle for the economic rescue legislation. In the EAS version of the bill (Engrossed Amendment as Agreed to by the Senate), Division A (pp.1-110) is referred to as the Emergency Economic Stabilization Act of 2008; Division B (pp. 110-255) is referred to as the Energy Improvement and Extension Act of 2008; and Division C (pp. 255-441) is referred to as the Tax Extenders and Alternative Minimum Tax Relief Act of 2008.” It was not treated as an appropriations bill in the House.

There were two votes in the Senate. The first was to amend H.R.1424, which required 3/5 to be accepted, which it was. The second was a vote on the bill. Passage of the Bill required only a 1/2 majority. It was passed with 74 yeas and 25 nays. Senator Kennedy did not vote.

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Fake impotence drugs linked to low blood sugar outbreak

Thursday, February 12, 2009

An article in the February 12 issue of the New England Journal of Medicine reports on an unusual cause for an outbreak of low blood sugar among men in Singapore: illegal use of sexual performance enhancement drugs that were contaminated with a diabetes drug.

Between January and May 2008, 149 men and one woman between 19 and 97 (mean age 51) were admitted to five public hospitals for unexplained low blood sugar. Similar cases were reported in media reports from Hong Kong. Seven Singaporean patients remained in a coma because of prolonged sugar starvation of the brain, and four subsequently died. The diabetes drug glyburide was found in blood and/or urine samples in 85% of cases; 30% admitted having used illegal sexual performance enhancers.

The contaminated products were a counterfeit version of the drug Cialis (meant for the treatment of genuine erectile dysfunction), and three purported herbal preparation (the affected brands included Power 1 Walnut and Santi Bovine Penis Erecting Capsule). All four preparations additionally contained Viagra in varying concentrations. Two herbal products contained traces of the weight loss drug sibutramine, a compound related to amphetamines.

The drug packaging mentioned names of non-existent overseas production facilities, so the source of the contamination with the diabetes drug could not be established.

The authors underline the risks that is known to be associated with purchasing drugs from unreliable providers or from online resellers. The clandestine use of impotence drugs as sexual performance enhancers seems to have provided a good illustration of this problem. They further call for more efforts by national and international health and law enforcement agencies to curb the manufacturing, international transport and sales of untrustworthy medication.

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SpaceX Falcon I rocket fails to orbit test satellite

Wednesday, March 21, 2007

The SpaceX Falcon 1 rocket has failed to place a DARPA demonstration payload into orbit, on its first flight into space. The rocket launched from Omelek Island, at 01:10 GMT on 21 March, just less than a year after its maiden flight which failed just seconds after launch.

The rocket, which is the first privately-funded liquid-fueled launch vehicle, was intended to place the payload into a low-Earth orbit, but all contact with the rocket was lost just over five minutes into the flight.

The first stage burn proceeded nominally, and separation occurred on schedule. As the first stage fell away from the second, it was observed to have impacted on the engine bell of the second stage. About five minutes into the flight, the second stage began to roll out of control. All data was lost at T+5 minutes, 5 seconds.

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September

30

Sourcing Wholesale Goods

By Guna Seelan

Ask any entrepreneur for a business idea, and you’ll seldom hear retail. Many businessmen see retail as too difficult, or too risky, and one of the main reasons for this is that they don’t know how to source wholesale goods. Sourcing wholesale goods is one of the major hurdles facing any prospective businessman looking to venture into the retail market. However, with the advent of the Internet, it has become easier now than ever to both source and sell products from wholesale suppliers. In practical terms, what this means is that it is now easier than ever to enter the retail market through wholesale channels. In this article, we will cover the finer points of sourcing wholesale goods for your business.

Wholesalers are often considered to be insider secrets, and it is very rarely public knowledge. When making initial enquiries, it is almost impossible to find out who the main wholesalers are in your market, because the retailers don’t want to give the game away. Supply products down the chain makes good money for everyone involved, and at end of the day the retailers are only middlemen, taking a cut from the price you pay. Why would they let you in on it? What you have to do is dig a little deeper if you want to find wholesale suppliers.

[youtube]http://www.youtube.com/watch?v=FN-MZUUU1tU[/youtube]

Wholesale suppliers rarely advertise in your face, and if you’re wanting to buy from a wholesaler you’re going to have to go through a lot of hard work finding them first. Since the Internet has become more widespread, it has of course hand an effect on the way we look for information, but more on that later. For the time being, the primary way in which you should source wholesalers is in business directories. Business directories and relevant trade magazines are the main haunts of wholesalers, who usually work with a stable customer base rather than trying to actively recruit new clients. Finding them in a business listing guide is probably one of the best ways to discover the contact information you need to get the ball rolling on your acquisition.

Another vital tool in sourcing wholesale products is the world wide web, also known as the Internet. Every wholesaler that is worth his salts will have a website (usually a very poor website), allowing you to access their contact information, or order a brochure. Additionally there are one or two wholesale marketplaces where buyers and sellers can meet to exchange wholesale goods. Get yourself online, and get digging beneath the surface if you want to source wholesale goods – if you look in the right places, you’ll soon find the suppliers you are looking for.

Sourcing wholesale goods has traditionally been quite a difficult process, but rewarding after you’ve achieved success. By sourcing the right wholesale supplier, your business can flourish, through a mutual respect for each other’s needs and the desires of the end consumer. Over time, the relationship built with your wholesaler will prove to be very profitable, and provided you’ve chosen wisely, very successful.

About the Author:

redwholesale.com

is a wholesale purchasing and wholesale selling portal for wholesalers, retailers and manufacturers.

Source:

isnare.com

Permanent Link:

isnare.com/?aid=182018&ca=Marketing

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Canada’s St. Paul’s West (Ward 21) city council candidates speak

Friday, November 3, 2006

On November 13, Torontonians will be heading to the polls to vote for their ward’s councillor and for mayor. Among Toronto’s ridings is St. Paul’s West (Ward 21). One candidate responded to Wikinews’ requests for an interview. This ward’s candidates include John Adams, Tony Corpuz, Joe Mihevc (incumbent), and John Sewell.

For more information on the election, read Toronto municipal election, 2006.

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2008 YODEX Review: Varied competitions, Vast creations

Monday, May 26, 2008

The 27th Young Designers’ Exhibition 2008, recognized by the International Council of Societies of Industrial Design (ICSID) as the largest show of student creations, recently ended Sunday May 18. It was held at the Taipei World Trade Center. Improvements and expansions were seen with 107 academical and industrial units. Different design competitions participated and showcased their products and also received awards.

It’s no doubt that companies related to design and cultural industries want to discover creative talents from academical units in this exhibition. However, most companies still try to showcase different conceptional and applicative products in order to promote Taiwan’s designs into the world market. A typical example is Fora Series, a photo-voltaic product series by the Tsann Kuen Trans-nation Group.

Before entering into their careers, students participated in this show and showcased varied styles that differ from the usual industrial businesspeople. To get more opportunities and in order to interact with the design and cultural industries, students also participated in vast competitions and tried to get the top places. Some students also tried to design conceptional products in conjunction with industrial designs, especially in some design competitions.

In summary, not only did the 2008 YODEX, have companies which can discover talents and showcase achievements of industrial design in the exhibition, but students can make their stages to showcase excellences from their creations in several competitions related to YODEX.

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September

28

Florida man charged with stealing Wi-Fi

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Florida man charged with stealing Wi-Fi
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Update since publication

This article mentions that Wi-Fi stands for “Wireless Fidelity”, although this is disputed.

Thursday, July 7, 2005

A Florida man is being charged with 3rd degree felony for logging into a private Wi-Fi (Wireless Fidelity) Internet access point without permission. Benjamin Smith III, 41, is set for a pre-trial hearing this month in the first case of its kind in the United States.

This kind of activity occurs frequently, but often goes undetected by the owners of these wireless access points (WAPs). Unauthorized users range from casual Web browsers, to users sending e-mails, to users involved in pornography or even illegal endeavours.

According to Richard Dinon, owner of the WAP Smith allegedly broke into, Smith was using a laptop in an automobile while parked outside Dinon’s residence.

There are many steps an owner of one of these access points can take to secure them from outside users. Dinon reportedly knew how to take these steps, but had not bothered because his “neighbors are older.”

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September

27

US unemployment rate reaches 9.8%

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US unemployment rate reaches 9.8%
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Friday, October 2, 2009

Companies in the United States are shedding more jobs, pushing the country’s unemployment rate to a 26-year high of 9.8%.

The US Labor Department said on Friday that employers cut 263,000 jobs in September, with companies in the service industries — including banks, restaurants and retailers — hit especially hard. This is the 21st consecutive month of job losses in the country.

The United States has now lost 7.2 million jobs since the recession officially began in December 2007. The new data has sparked fears that unemployment could threaten an economic recovery. Top US officials have warned that any recovery would be slow and uneven, and some have predicted the unemployment rate will top 10% before the situation improves.

“Continued household deleveraging and rising unemployment may weigh more on consumption than forecast, and accelerating corporate and commercial property defaults could slow the improvement in financial conditions,” read a report by the International Monetary Fund’s World Economic Outlook, predicting that unemployment will average 10.1% by next year and not go back down to five percent until 2014.

Mark Zandi, chief economist at Moody’s Economy.com, said that “it’s a very fragile and tentative recovery. Policy makers need to do more.”

“The number came in weaker than expected. We saw a lot of artificial involvement by the government to prop up the markets, and now that that is starting to end, the private sector isn’t yet showing signs of life,” said Kevin Caron, a market strategist for Stifel, Nicolaus & Co.

Also on Thursday, the US Commerce Department said factory orders fell for the first time in five months, dropping eight-tenths of a percent in August. Orders for durable goods — items intended to last several years (including everything from appliances to airliners) — fell 2.6%, the largest drop since January of this year.

The US government has been spending billions of dollars — part of a $787 billion stimulus package — to help spark economic growth. There have been some signs the economy is improving.

The Commerce Department said on Thursday that spending on home construction jumped in August for its biggest increase in 16 years. A real estate trade group, the National Association of Realtors, said pending sales of previously owned homes rose more than 12 percent in August, compared to August 2008.

A separate Commerce Department report said that consumer spending, which accounts for more than two-thirds of US economic activity, rose at its fastest pace in nearly eight years, jumping 1.3 percent in August.

Other reports have provided cause for concern. A banking industry trade group said Thursday the number of US consumers making late payments, or failing to make payments, on loans and credit cards is on the rise. A survey by a business group, the Institute for Supply Management, Thursday showed US manufacturing grew in September, but at a slower pace than in August when manufacturing increased for the first time in a year and a half.

Stock markets reacted negatively to the reports. The Dow Jones Industrial Average fell 41 points in early trading, reaching a level of 9467. This follows a drop of 203 points on Thursday, its largest loss in a single day since July. The London FTSE index fell 55 points, or 1.1%, to reach 4993 points by 15.00 local time.

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September

27

Former Washington D.C. police officer sues district for racial discrimination and harassment

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Former Washington D.C. police officer sues district for racial discrimination and harassment
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Friday, June 22, 2007

According to court documents obtained by Wikinews, Randy Squires, an African American male and a former police officer of the Metropolitan Police Department of the District of Columbia (DCMPD) has filed a lawsuit against the department alleging racial discrimination and harassment by a fellow officer. Squires is also suing the former mayor of D.C., Anthony A. Williams, and the district’s Attorney Generals office. Squires is also suing his superior officer, Robert Atcheson, for racial discrimination and harassment.

“Defendant Atcheson treated Plaintiff differently than similarly situated Caucasian police officers in several respect[sic], including but not limited to assignments, evaluation, and disciplinary actions, deprivation of overtime and use of departmental vehicles,” stated court papers filed by Squires’ attorneys, Donald M. Temple and Dhamian A. Blue of Temple Law Offices in Washington D.C.

Squires accuses Atcheson, a white-caucasian male and a lieutenant in the Environmental Crimes Unit (ECU) Warrant Squad and the Paternity Warrant Squad, of discriminating against him on the basis of the color of his skin and also harassing him while on the job. Squires originally started to work in DCMPD 1988, and shortly after he was hired, he began to work in the ECU. Atcheson was in control of the unit Squires belonged to.

In court documents, Squires alleges Atcheson treated him with “flagrant racial discriminatory conduct,” like using the word “mope,” which is defined as slang for “nigger,” and that the discrimination was “designed to intimidate, insult, emasculate and humiliate” Squires. In one incident in 2002, during a training exercise, Atcheson allegedly “deprived Squires of appropriate breathing apparatus, which is designed to save life in emergency and hazardous situations,” but that the apparatus was “provided to two other caucasian officers.”

Documents also allege that Atcheson had “falsified” a report to North Carolina State Police after Squires was arrested and wrongfully charged with “unauthorized taking of a police vehicle.” Court documents say that the report to N.C. police states that “Atcheson falsely told Plaintiff (Squires) that he had photographic evidence of the police car outside Plaintiff’s home overnight and of Plaintiff driving the car from his home.”

Court documents also allege that Squires allegedly informed his superior officer of Atcheson, only known as ‘Captain Brito,’ of the incident, but no action was ever taken against Atcheson. Squires initially filed a complaint against Atcheson with the Equal Employment Opportunity Commission, (EEOC) in a letter on March March 8, 2005.

The Washington D.C. police department has investigated the claims made by Squires, which “revealed inappropriate conduct toward Squires,” but according to documents, no disciplinary action has been taken against Atcheson or his superiors.

The defendants “deny any and all allegations” that Squires has made against them and also state that Squires “failed to exhaust their administrative remedies and/or failed to comply with other mandatory filing requirements.” Defendants also say that “all actions taken by District (Washington D.C.) relating to Plaintiffs were necessary, reasonable, pursuant to lawful authority, and based on legitimate, non-discriminatory reasons” and that “the district denies that any district policymaker adopted, approved, condoned and/or maintained an unconstitutional policy, practice or custom of unlawful employment practices.”

Squires is asking at least US$350,000. Squires and the Defendants also request that a jury be present during the trial, which is scheduled to conclude on June 26.

This article features first-hand journalism by Wikinews members. See the collaboration page for more details.
This article features first-hand journalism by Wikinews members. See the collaboration page for more details.

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September

27

American singer Johnny Maestro dies at 70

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American singer Johnny Maestro dies at 70
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Friday, March 26, 2010

American singer Johnny Maestro died of cancer Wednesday at his home in Cape Coral, Florida. Maestro was best known for his 1958 hit song “16 Candles” with The Crests.

He began his career in the 1950s as lead singer for The Crests, an early interracial singing group. In 1968 he joined his band, The Del-Satins, with The Rhythm Method, another Long Island band. They became Johnny Maestro & The Brooklyn Bridge. Their song “The Worst That Could Happen” went gold in 1969. Maestro performed with The Brooklyn Bridge until two months before his death.

He was born on the Lower East Side of Manhattan on May 7, 1939 as John Mastrangelo. He is survived by his wife Grace and three children Lisa, Brad, and Tracy.

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