Wednesday, March 18, 2009

United States President Barack Obama stated Monday that insurance giant AIG is in financial trouble due to “recklessness and greed,” and called for legal action to stop the company from giving out millions of dollars in bonuses to its executives.

“It’s hard to understand how derivative traders at AIG warranted any bonuses, much less $165 million in extra pay,” Obama said. “How do they justify this outrage to the taxpayers who are keeping the company afloat.”

Obama’s statement comes after reports surfaced last weekend saying the insurance agency, which is in deep financial trouble, had paid US$165 million to executives in bonuses, after receiving $170 billion as part of a government bailout plan.

AIG has said that the bonuses have to be given out, as the company is legally required by contract to do so. A representative with the National Economic Council, Lawrence H. Summers, also said that the bonuses were required to be given out. If AIG had refused to give out the bonuses, employees could file a lawsuit against the company for the money.

“We cannot attract and retain the best and the brightest talent to lead and staff the A.I.G. businesses — which are now being operated principally on behalf of American taxpayers — if employees believe their compensation is subject to continued and arbitrary adjustment by the U.S. Treasury,” AIG CEO Edward M. Liddy said in a letter addressed to Treasury Secretary Timothy F. Geithner on Saturday.

Liddy said that he asked Geithner “to use that leverage and pursue every legal avenue to block these bonuses and make the American taxpayers whole.”

“I want everybody to be clear that Secretary Geithner’s been on the case,” Obama said. “He’s working to resolve this matter with the new CEO, Edward Liddy, who, by the way, everybody needs to understand, came on board after the contracts that led to these bonuses were agreed to last year.”

If the bonuses cannot be stopped, the U.S. Congress says they want AIG to reimburse the government. Congress is looking to impose stiff new taxes on the pay, or ordering the company to return the money which was originally granted from a government bailout. In a letter to House Speaker Nancy Pelosi on Tuesday, senator Richard Shelby promised that the treasury will recover all of the money. Several U.S. senators along with Liddy have sent letters to AIG asking for the bonuses to be renegotiated, something AIG agreed to and says they will reduce future bonuses by 30%. Senators state that if Libby does not respond by renegotiating the bonuses, the Senate Finance Committee will propose an excise tax. Not only will an excise tax be proposed on AIG, but all companies receiving bailout money and their employees who receive bonuses.

Numerous House Democrats have introduced legislation which would place a 100% tax on any bonuses of over $100,000 from companies that are receiving government bailout funds. Meanwhile in the Senate, a bipartisan proposal by Max Baucus (D-Montana) and Charles Grassley (R-Iowa) would levy a special 90% excise tax on AIG’s bonuses. Asked Senator Baucus, who chairs the Senate Finance Committee: “What is the highest excise tax we can impose that will stand up in court? Let’s find out.”

Wednesday, May 16, 2007

Prince Harry, known as Prince Henry of Wales, who was recently set to leave for Iraq with his regiment, has been prohibited from going. The Chief of the General Staff (Head of the British Army) General Sir Richard Dannatt, has decided Prince Harry would not be deployed based on his review of specific risks.

“I have decided today that Prince Harry will not deploy as a Troop Leader with his Squadron,” said General Dannatt in a statement. “”There have been a number of specific threats – some reported and some not reported, which relate directly to Prince Harry as an individual. These threats place not only him but also those around him to a degree of risk that I now deem unacceptable.”

Despite Prince Harry’s previous threats to quit the army if he was not allowed to deploy to Iraq, a spokesman has said he will stay in the army. “Let me also make quite clear that as a professional soldier, Prince Harry himself will be extremely disappointed,” added General Dannatt.

A number of threats have been a factor in the Chief of the General Staff’s decision making, saying that “sending him in not only endangers those around him, the effect of being kidnapped would be a blow to the entire UK.”

The UK Ministry of Defence (MoD) indicated in a press release Wednesday that the decision was based on a military assessment and that Clarence House, Buckingham Palace, 10 Downing Street and the Defence Secretary had been informed of the decision.

The MoD acknowledged that some insurgents in Iraq might try to claim victory with the decision, but that it was important to deny them “such a high value target”.

Monday, September 11, 2006

Pope Benedict XVI went to visit his homeland in Marktl-am-Inn, Germany today. The Pope celebrated Mass in front of 70,000 people, at Kapellplatz square. Benedict had a six-day homecoming tour of his native Bavaria, a state in Germany. He said a prayer remembering 9/11 victims.

Benedict also planned to make visits to where he was born, and to Freising, where he was ordained a priest. He will also visit Regensburg, where he once taught theology; he still has a house in the city, and his brother Georg, a retired priest and choir director, lives there as well.

“This is the mother that generations have come to Altoetting to visit,” he said. “To her we entrust our cares, our needs and our troubles.”

He visited his first house, which he lived till he was two years old. The house had to be cleaned after it was spattered with blue paint early on Sunday. The police described it as vandalism.

“This is a really big thing — I’ve never seen a pope before,” said Juergen Tauer, a 38-year-old computer technician from the Bavarian town of Degendorf who took the day off to travel to Altoetting with his wife and three children. “It’s great that the pope is coming to Altoetting.”

Everyone was excited about the chance to see the pope.

Monday, January 18, 2010

According to local officials, a United States drone attack in Pakistan’s South Waziristan province has killed at least fifteen people, although some reports put the death toll as high as twenty. The incident occurred in the Shaktoi region of the province.

“Now the death toll is 15. It could rise further. People are still busy removing rubble,” said a senior security official to the Reuters news agency. He commented that most of the dead were foreign fighters.

“The drones are apparently tracking and targeting Pakistani Taliban chief Hakimullah Mehsud, whose presence is frequently reported in the area,” said another official.

The United States has increased attacks using drones since a suicide bomber killed seven US intelligence agents in eastern Afghanistan in late December of last year.

Monday, October 30, 2006

Following the Wikimedia Foundation’s retreat in Frankfurt am Main, Germany the Foundation made changes to the organization of the Board of Trustees. The board, which consisted of Jimmy Wales, Tim Shell, Michael Davis, Florence Nibart-Devouard and Erik Möller voted unanimously to elect board member Nibart-Devouard as the new Chair of the Wikimedia Foundation.

Founder Jimmy Wales said, “I nominated Florence to be the Chair of the Foundation in recognition of her outstanding service for the past few years and her unsurpassed passion for our goals. Having such a trusted community representative elected as our new chair demonstrates the growth and strength of our organization.”

Nibart-Devouard, 38 and currently living in Clermont-Ferrand, will still be working with Wales.

Tuesday, October 20, 2015

A London man charged on Sunday with drugging and murdering four men made his first court appearance yesterday. Stephen Port, 40, was remanded to appear before a higher court tomorrow.

Port faces four counts of murder and four counts of “administering a poison with intent to endanger life or inflict grievous bodily harm”. He is alleged to have administered overdoses of recreational drug GHB. He allegedly murdered the men at his home before dumping the bodies, after finding victims online using gay dating services.

Three of the deaths were last year. Anthony Patrick Walgate, 23, was found dead on June 19, 2014 in Cooke Street. Port lives in Cooke Street. The other three alleged victims were found in the vicinity of St Margaret’s Church on North Street. Gabriel Kovari, 22, was discovered dead on August 28. Daniel Whitworth, 21, was found dead the following month on September 20. Fourth alleged victim Jack Taylor, 25, was found a year later on September 14.

Whitworth and Kovari were known to each other, according to testimony at inquest. The Metropolitan Police has referred itself to the Independent Police Complaints Commission concerning what police called “potential vulnerabilities in [our response] to the four deaths.” Police did not initially link the deaths.

Special needs teacher Port, who was guarded by three officers in the dock, spoke in court to confirm his identity. He did not indicate if he will deny the offences. He was arrested following a police appeal to trace a man seen with Taylor shortly before his death.

Police at the time released security footage of Taylor’s movements, with an officer telling the press “the man captured on CCTV may well be the last person to talk to Jack.” The four deaths were finally linked and passed to the Metropolitan Police’s serious crime investigators on Wednesday last week.

The Magistrates’ Court ordered Taylor to appear at the Old Bailey, a famed London courthouse, tomorrow. He spent the hearing holding one arm, and repeatedly looking at the floor, whilst clad in a grey tracksuit given to him by the authorities holding him.

Saturday, October 27, 2007

Gay Talese wants to go to Iraq. “It so happens there is someone that’s working on such a thing right now for me,” the 75-year-old legendary journalist and author told David Shankbone. “Even if I was on Al-Jazeera with a gun to my head, I wouldn’t be pleading with those bastards! I’d say, ‘Go ahead. Make my day.'”

Few reporters will ever reach the stature of Talese. His 1966 profile of Frank Sinatra, Frank Sinatra Has a Cold, was not only cited by The Economist as the greatest profile of Sinatra ever written, but is considered the greatest of any celebrity profile ever written. In the 70th anniversary issue of Esquire in October 2003, the editors declared the piece the “Best Story Esquire Ever Published.”

Talese helped create and define a new style of literary reporting called New Journalism. Talese himself told National Public Radio he rejects this label (“The term new journalism became very fashionable on college campuses in the 1970s and some of its practitioners tended to be a little loose with the facts. And that’s where I wanted to part company.”)

He is not bothered by the Bancrofts selling The Wall Street Journal—”It’s not like we should lament the passing of some noble dynasty!”—to Rupert Murdoch, but he is bothered by how the press supported and sold the Iraq War to the American people. “The press in Washington got us into this war as much as the people that are controlling it,” said Talese. “They took information that was second-hand information, and they went along with it.” He wants to see the Washington press corp disbanded and sent around the country to get back in touch with the people it covers; that the press should not be so focused on–and in bed with–the federal government.

Augusten Burroughs once said that writers are experience junkies, and Talese fits the bill. Talese–who has been married to Nan Talese (she edited James Frey‘s Million Little Piece) for fifty years–can be found at baseball games in Cuba or the gay bars of Beijing, wanting to see humanity in all its experience.

Below is Wikinews reporter David Shankbone’s interview with Gay Talese.

Sunday, June 8, 2008

A lively shopping district was suddenly struck by an indiscriminate murder spree on a Sunday afternoon. A young man attacked a crowd with a rented truck, and then stabbed people with a dagger, around 12:35 JST (3:35 UTC) on Sunday in the Akihabara district of Chiyoda Ward, Tokyo. The suspect, identified as Tomohiro Kat?, aged 25, was arrested on suspicion of attempted murder. Seven people were killed, and ten injured.

The injured people include pedestrians, a 53-year-old policeman, and a taxi driver, 54, who is believed to have left his taxi in order to help a pedestrian hit by the truck. About 17 ambulances came to the scene. NHK reports that medical teams trained for disasters joined the rescue.

The dead are six men aged between 19 and 74 and a 21-year-old woman; each was identified by police.

The truck, traveling on Kanda My?jin-d?ri (Kanda My?jin Avenue), ran into the crowd at a crossing on Ch??-d?ri (Ch?? Avenue), which is a vehicle-free road every Sunday. After entering the crowd, the truck continued moving for about 30 meters. The suspect then exited the truck and began stabbing people. According to a witness, the suspect, upon being pursued by police, ran south on Ch??-d?ri and was cornered in a narrow alley. The suspect dropped his knife after the police officer drew his gun, and was overpowered by the officer and several bystanders.

The suspect has been quoted as confessing to police, “I came to Akihabara to kill people. I’m tired of the world. Anyone was OK. Today I came alone.” The suspect, a native of Aomori City, lived and worked as a dispatched temporary employee in Shizuoka Prefecture. After being held at the Manseibashi Police Station, he was sent on Tuesday to the Tokyo District Public Prosecutors Office.

At the scene, a table covered with a white cloth was set for memorial flowers and other offerings on the morning of Monday, June 9. As acquaintances of the dead and passersby visited, the table soon filled—almost flooded—with flowers, drink bottles, pictures, and folded paper cranes.

The incident occurred on the same date with the 2001 Osaka school massacre, in which eight elementary school students were killed.

NHK reported the incident as confirmed within 45 minutes, interrupting a news channel program for one minute. Some newspapers created special issues to report the incident as June 8 was a Sunday and also a press holiday, many newspapers in Japan were not scheduled for delivery on that evening or the following morning.

The Akihabara district is famous for its Electric Town with wholesalers and retailers of video games or electric gadgets such as PC parts, televisions and kitchen appliances. It has also become famous for distinctive trends in cultures created or supported by the youth.

Local residents, business owners, and government officials from Chiyoda Ward assembled for an emergency meeting on Monday to discuss whether the practice of maintaining the vehicle-free area on Sundays ought to be continued. The Tokyo Metropolitan Public Safety Commission is also expected to discuss the issue.