Wednesday, October 25, 2006

On November 1, 2006 the old five, ten, twenty and fifty cent coins will be illegal tender, but the Reserve Bank of New Zealand says there are still at least 100 million still to be returned.

According to the Reserve Bank, most of the old coins have been lost in drains or buried in rubbish. “We think there is still another 100 million sitting around in people’s homes,” Brian Lang, currency manger for the Reserve Bank, said.

Lang said: “So far, just over 280 million coins have been returned, but there are more out there. Since 1967 the Reserve Bank has issued more than a billion of the old ‘silver’ coins. So if you don’t want to be stuck with loads of old coin – there’s never been a better time to empty your coin jars, sweep the car glove box and rummage behind the couch cushions.”

The coins still awaiting to be handed in, by either spending them, taking them to a bank or donating them to charity, are estimated to be worth between NZ$5 million and $50 million.

“A last-minute burst of publicity may convince people to bring the coins in. It’s a bit of a hassle though. Human nature being what it is, people just don’t care,” Lang said.The Karori Wildlife Sanctuary located in Wellington say that they have collected over $9,000 in old coins. Sanctuary spokesman, Alan Dicks said: “The campaign was particularly fitting because the old coins depicted tuataras and kiwis, both of which can be found living at the sanctuary. The money will go towards supporting general ecological restoration of the sanctuary. We want to get over ten grand, but the more the better.”

Lang said: “Though the coins will no longer be legal tender, banks will continue to exchange them until at least the end of the year,” and the Reserve Bank will always exchange them. “We are still getting people coming in with two-dollar notes,” Lang added.

Monday, December 18, 2006

A state of emergency was declared Sunday for the U.S. state of Washington by governor Christine Gregoire, as additional reports of storm-related casualties surfaced. The state National Guard has been deployed to aid in distributing supplies.

Thousands were still without power in the coastal and Puget Sound regions, though most urban areas were back with power as late as Sunday afternoon, and outages were mostly contained to rural and unincorporated areas. Puget Sound Energy reported that roughly 500,000 energy customers out of the 700,000 who lost power were back in service by Sunday evening. Seattle City Light, the city’s independent municipal utility, reported only 18,000 customers still without power as of Monday morning, down from a peak of 175,000.

Four additional deaths related to the post-storm power outage had been reported as of Monday, bringing the total number of casualties to eight. A man in Gig Harbor was electrocuted by a downed power line while walking his dog. Another man in Spanaway died when an unattended candle caused a house fire.

Two died from carbon monoxide poisoning in separate incidents related to use of combustion devices indoors. Roughly a hundred additional cases of non-fatal carbon monoxide poisoning were reported from people using generators or grills indoors. News radio stations and authorities warned the public to stay away from downed power lines and not to use grills indoors. Dr. Neil Hampson at Virginia Mason’s hyperbaric unit, where a number of victims were being treated, warned it could be “the worse case of carbon monoxide poisioning in the country”.

On Monday, four new carbon-monoxide deaths were reported in a family of five in Burien due to an indoor generator. In Canada, which had some damage from the week’s storms, two southern British Columbia carbon monoxide deaths were also reported. Despite continued warnings, hospitals are still seeing cases of carbon monoxide poisoning, including a family in w:Shoreline, Washington which was taken to the hospital after they reported symptoms due to their indoor grill. Neighbors of the Burien family suggested that noise concerns are leading people to place noisy generators indoors.

The massive power outage left many stores and gas stations unable to operate. Some businesses opened with the help of backup generators, conserving power by foregoing heat and refrigeration, exterior lighting, and half the interior lighting. Most stores had run out of “D” size batteries, the most common size for flashlights, as well as firelogs and other essentials. Gasoline shortages were reported throughout the area, with one man selling excess fuel for as high as $15 per gallon, over 5 times the average retail price.

The Red Cross set up shelters throughout King and other affected counties for those without power or food. Hotels reported no vacancies as whole families took shelter in powered hotels, especially in Seattle. Restaurants also reported brisk business as people sought out a hot cooked meal. Tons of perishable food were expected to have become unsafe after the prolonged outage disabled refrigerators and freezers both in homes and stores.

Many of those without power visited nearby friends and family living where power had been continued or restored, while others traveled out of the area to places that had not been affected. The widespread outage made long-distance traveling treacherous on some major routes, with roadway lighting, cellular towers, and services disabled by the outage.

Most major roadways which were closed during the storm were reopened on Friday. The 520 Floating Bridge over Lake Washington, a major conduit to the technology-rich Eastside, sustained minor damage. Amtrak, which had halted its Cascades service, resumed Saturday evening. Sea-Tac Airport resumed operations with a reduced flight load, after a transient power outage on Friday disabled the airport radar and caused all planes to be grounded until it was repaired.

Wednesday, April 13, 2022

A 17-year-old boy has died and a 16-year-old boy is in a serious condition in hospital after a fight broke out at the Royal Easter Show in Sydney, Australia, on Monday at around 8 p.m. Sydney time (10:00 UTC).

According to New South Wales Ambulance Inspector Mark Whittaker, the 17-year-old, who worked at the event, went into cardiac arrest after being stabbed in the chest in front of his parents. Paramedics performed CPR on the teenager before loading him into an ambulance. He died while being transported to Westmead Hospital. The 16-year-old suffered stab wounds to his leg and is undergoing treatment.

A 15-year-old boy was arrested at the show and was taken to Auburn Police Station for playing a small role in the stabbing, according to police. He appeared in a juvenile court and was granted bail on charges of affray, carrying a knife in public and being armed with intent.

Strike force detectives are still trying to track down others involved in the stabbing. They believe the stabbing was not a random attack, and instead was a planned confrontation between two groups.

The carnival’s adult section was closed to allow forensics teams to inspect the area.

The show’s manager Murray Wilton denied claims that event security failed. He said that it was impossible to check the bags of all attendees, and that they had decided to carry out random bag checks instead.

Event organisers have promised that full refunds will be offered for people who no longer wish to attend the show.

Australian Prime Minister Scott Morrison gave his condolences and said: “All our kids will be going to the Royal Easter Show. My kids will be going to the Royal Easter show. We want them to be safe. This is a very distressing event. The violence that is there, that has no place. It has no place in this country. It has no place at an event where people are coming to enjoy themselves.”

Superintendent Danielle Emerton of the New South Wales Police Force has reassured people that the show is still safe and asked for the public’s help to find others involved in the stabbing. She said: “We know that there were thousands of people at the show last night and we know that there’s a lot of vision that is out there,” urging anyone with information about the incident to come forward.

Thursday, February 24, 2005

A paste containing synthetic tooth enamel can seal small cavities without drilling. Kazue Yamagishi and colleagues at the FAP Dental Institute in Tokyo say that the paste can repair small cavities in 15 minutes.

Currently, fillers don’t stick to such small cavities so dentists must drill bigger holes. Hydroxyapatite crystals, of which natural enamel is made, bond with teeth to repair tiny areas of damage.

Yamagishi and colleagues have tested their paste on a lower premolar tooth that showed early signs of decay. They found that the synthetic enamel merged with the natural enamel. The synthetic enamel also appears to make teeth stronger which will improve resistance to future decay. As with drilling, however, there is still the potential for pain: The paste is strongly acidic to encourage crystal growth and causes inflammation if it touches the gums.

The paste is reported in the journal Nature.

Saturday, September 15, 2007

Nervous savers have re-formed queues this morning outside many branches of Northern Rock, after the £2.68 billion bank took an emergency loan from the Bank of England, the UK central bank.

Shares in the bank had dropped 25% by lunchtime yesterday in London – and stood nearly 60% lower from their high of February – after the Bank of England acted in its capacity as “lender of last resort” to provide Northern Rock with short-term financing to enable it to continue operations.

The Bank of England hasn’t acted as lender of last resort since 1973, when the collapse of Cedar Holdings – a pioneer of second mortgages to UK home-owners – threatened a crisis in the country’s banking industry.

Northern Rock has been hit hard since June this year by the turmoil in world credit markets. Although only 0.24% of its assets are exposed to subprime US housing debt, the bank’s business model saw it grow its loan book by 43% in the first six months of this year. Rather than lending money deposited with it by savers, Northern has borrowed aggressively in the short-term capital markets.

“Northern Rock is not a reckless lender,” said Angela Knight, head of the British Bankers Association on national radio this morning. Urging the bank’s savers not to withdraw their money in panic, “the mortgage lending it does well and it does in a high quality, high calibre way,” she added.

But savers queuing to withdraw their money from Northern Rock today said they were “horrified” by the Bank of England needing to step in.

“I am going to take out the lot, every penny,” said one Northern Rock saver to Bloomberg as he queued outside the bank’s West End branch in London.

Thursday, May 8, 2014

Citing violations of its policy regarding “Marine mammal items”, eBay terminated an online listing on Monday by the town of Cape St. George, Newfoundland and Labrador, Canada, for a 40 ft (12 m) sperm whale carcass reportedly beached upon its shores about a week prior.

With an initial asking price of 99 cents, bidding for the carcass reportedly rose to C$238.03 within 15 bids. Reports variously state the final price of the whale, prior to the removal of the listing from the auction site on Monday at about 2:30pm, was C$2,025 or C$2,075. Listed in eBay’s “really weird” category, the carcass was considered by eBay to be an example of “items made from marine mammals regardless of when the product was made”, which are prohibited as per site rules.

Following a council meeting on Sunday in the town of 950 residents, Cape St. George’s mayor, Peter Fenwick, put the whale up on the auction site in a bid to have it removed from the town’s premises, citing a lack of cooperation from provincial and federal government officials on the matter. “It’s your problem, you solve it”, Fenwick recounted to The Globe and Mail (TGaM) as the response he received from them. Apart from eBay, Kijiji was also suggested as another avenue by which to sell the carcass.

Fenwick told CTV News, several years prior another sperm whale measuring 15 ft was beached in the area, but disappeared without incident, an act Fenwick attributed to be the work of Fisheries and Oceans Canada. “This time”, he remarked, “the authorities have told us that it’s our whale, it’s our responsibility to get rid of it.”

On putting the carcass for sale, Fenwick remarked, “We knew we had to do something with it and this seemed to be the least expensive way of disposing of it.” In a news release, Fenwick highlighted a possible use for the carcass, particularly its bones. “The 40 foot sperm whale will make a spectacular exhibit once the fat and muscle is removed, and the town is asking museums and other organizations that could use a whale skeleton to contact the town for further details.”

On retaining the whale himself, Fenwick stated, “As a town we would dearly love to keep the whale and put it on exhibit in the town but the cost of such a venture would be hard to justify.” Fenwick told TGaM the whale was “in half decent shape”. “This one looks like it died very recently and hasn’t decomposed much”, which Fenwick suggested elsewhere was due to the whale’s present location, partially submerged in near-freezing water. However, Fenwick noted its close proximity to a residential area, saying homeowners who lived there were “very interested in seeing the whale gone.”

eBay was not the only organization who barred the sale from taking place. “We also got threatened by the federal department of the environment, and told to pull the ad off or they would prosecute us”, said Fenwick on the opposition he said he received from Environment Canada, which viewed the sale as contravening a federal act designed to protect endangered species. “I received a call from the federal department of the environment saying that you’re not allowed to sell any parts of sperm whales, even if they’re dead.” he added. “So I said, ‘Oh that’s very good, I’m glad to hear that, now can you send somebody over here to get rid of it for us?'” Fenwick’s request was met with a negative response from Environment Canada.

“They’ve got to sort it out somehow. The uncertainty means it just sort of sits there and rots.” Once decomposition sets in, Fenwick remarked the carcass would become a “real nuisance”. “I don’t know if you’ve ever seen a whale that’s been rotting on the beach for a couple of months — actually sometimes you can’t see it for the clouds of flies around it — but you can smell it for about a mile”, he added.

On finding alternate means to dispose of the carcass, Wayne Ledwell, a member of Newfoundland’s Whale Release and Strandings, suggested the whale be towed out to a remote area. “They need to do that right away, when they come in and they’re fresh,” said Ledwell. “No one wants to go touch them … everything becomes gooey and slippery and you can’t stand up on the whale and it gets on your boots and you can’t get the smell off and then you go home and the dog rolls in it and you get it in your kitchen and you curse the whales, and you curse the government and … it becomes a mess.” Fenwick said they’d considered the idea, enlisting a local fisherman who, however, judged his engine too small for the job.

Previously, blue whale carcasses washed ashore in the towns of Trout River and Rocky Harbour, located about 150 km further north, and were taken by Royal Ontario Museum for preservation of the skeletons. Fenwick suggested the sperm whale carcass in his town might also meet a similar fate, as the sperm whale’s status as the largest toothed whale might prove to be a drawing attraction for such a facility.

Regarding what he plans to do next with the carcass, Fenwick said “If we’re not allowed to sell it, we’re willing to drop our 99 cent price down to a zero.” He said he hoped some eBay bidder stays interested in the whale. “We’ll be glad to talk to them about giving them the whale. We’re hoping that’s not illegal.” He also said he hoped the publicity from the town’s predicament, which garnered national attention, and its unusual means of finding a solution, would draw in someone interested in taking the whale off his hands at their own expense.

Should the whale fall under new ownership, Fenwick advised it be moved away from the town to a beach devoid of people, and the blubber left as food for seagulls, insects, and other predators. He estimated “It’ll probably take a year or so to get down to the skeleton.” As monetary gain was reportedly not what the town cared about, Fenwick was willing to offer the carcass for free, though one report noted money raised from the listing could have gone towards the building of a skate park.

The listing on eBay, as put up by Fenwick, read:

Thursday, October 3, 2013

A review this week by Wikinews of US Consumer Financial Protection Bureau (CFPB) complaints about mortgages in the United States shows Bank of America leads all lending institutions in complaints.

Since mortgages complaints were recorded in December 2011, 77,622 total have been added to CFPB’s database. 29.2% of these complaints involved Bank of America, with the second most received by Wells Fargo, accounting for 15.5% of all complaints. JPMorgan Chase ranked third by volume of complaints with 9.8%. Ocwen was fourth with 8.7% and Citibank was fifth with 4.8%. Nationstar Mortgage; Green Tree Servicing, LLC; HSBC; PNC Bank; U.S. Bancorp; OneWest Bank; SunTrust Bank; Flagstar Bank; and Select Portfolio Servicing, Inc. each had between 1.0 and 3.8% of total complaints. The remaining 14.4% of all complaints about consumer mortgages were divided between about 530 other lending institutions.

The Motley Fool reported last month that for the past fiscal quarter, the biggest US based mortgage lenders were from first to fifth Wells Fargo, JPMorgan Chase, Bank of America, Quicken Loans and U.S. Bancorp.

According to the US Federal Reserve, debt for family residences stands at US$10.706 trillion for the second quarter of 2013. As of the end of June of this year, Bank of America is the United States’s second largest commercial bank with US$1.343 trillion in domestic assets. Wells Fargo is the fourth largest commercial bank with US$1.251 trillion in domestic assets. JPMorgan Chase is the largest US commercial bank with US$1.329 trillion in domestic assets and US$1.947 trillion in total assets.

The mortgage complaints in the CFPB report include several subproducts. Conventional fixed mortgages account for 27.1% of all complaints. Conventional adjustable mortgages account for 10.0%. FHA mortgages account for 7.7% of all complaints. Home equity loans or lines of credit account for 3.8% of all complaints. VA mortgages are 1.4% of all complaints. Second mortgages and reverse mortgages each account for 0.6% of complaints. The remaining 48.7% of complaints are about other mortgages or other mortgage issues. A few years ago, FHA loans accounted for about 10% of all US mortgages while VA loans accounted for about 3%. Prime loans accounted for over 75% of the market and the rest were subprime mortgages.

California leads all states by volume of complaints with 14768. It is followed by Florida, New York, Georgia and Texas. When complaints are divided by a state’s total population, New Hampshire leads. The state is followed by Washington D.C., Maryland, Georgia and Florida. Complaints do not correlate with national rankings for August’s foreclosure rate by state where Nevada topped the list, followed by Florida, Ohio, Maryland and Delaware.

Two zip codes account for over 1,000 total complaints between them. 565 complaints originated in the 48382 zip code, which is in Commerce Township, Michigan, located in suburban Detroit. 553 complaints originated in the 33071 zip code, in Coral Springs, Florida. According to real estate website Zillow, there are currently 1,033 properties in foreclosure in Coral Springs while Commerce Township only has 131 properties currently in foreclosure. Four other zip codes have 100 plus complaints originating from them. 91730, in Rancho Cucamonga, California, had 158 complaints. 33409, in West Palm Beach, Florida, had 132. 92626, in Costa Mesa, California, had 125 complaints. 92660, in Newport Beach, California, had 122 complaints. Respectively, the towns had 534, 1,068, 153, and 134 properties currently in foreclosure. These numbers are higher than for the cities of a few sampled zip codes where there was only one complaint, such as Gold Hill, Oregon which has 4 properties in foreclosure, and Decatur, Illinois which has 6 properties in foreclosure.

The CFPB categorizes complaints into six categories: “Loan modification, collection,foreclosure” or problems when a person is unable to pay; “Loan servicing, payments, escrow account” or problems with making a payment; “Application, originator, mortgage broker”; “Credit decision / Underwriting”; “Settlement process and costs”, and “Other”. The CFPB says the complaint types indicate consumers “appear to be driven by a desire to seek agreement with their companies on foreclosure alternatives. The complaints indicate that consumer confusion persists around the process and requirements for obtaining loan modifications and refinancing, especially regarding document submission timeframes, payment trial periods, allocation of payments, treatment of income in eligibility calculations, and credit bureau reporting during the evaluation period.” Currently, 59.6% of all complaints against lenders deal with being unable to pay. 25.1% deal with problems in making a payment. 7.0% have to do with the application process.

Of the complaint-heavy zip codes, for 48382 in Commerce Township, Michigan, 98.9% of all complaints have to deal with being unable to pay. Accounting for 23.4% of all mortgage complaints in Commerce Township, 132 of the complaints for being unable to pay were made regarding Bank of America, accounting for 97.8% or all but 3 complaints against them from the zip. 121 of the Bank of America responses in Commerce Township were closed with explanation and 12 were closed with non-monetary relief. 33071 in Coral Springs is different, with 537 of the 553 complaints being categorized under other. Only 11 complaints relate to foreclosure and issues with being able to pay. 92626 in Costa Mesa, where 32% of the mortgage complaints were about Bank of America and 26.4% were about Wells Fargo, had 93.6% of its complaints dealing with being unable to pay. 5 total complaints dealt with payment issues and 3 dealt with applications.

Beyond regional variance in complaint types lodged, the top five mortgage lenders by volume of complaints all had being unable to pay as their top complaint category, ranging between 55.8% for Citibank and 69.4% for Bank of America. Problems with payment accounted for the second largest area of complaints, with Ocwen having the largest percentage of complaints at 31.9% and Bank of America having the smallest at 18.8%. Foreclosure was the top area of complaints for a number of other lending institutions including 1st Alliance Lending, OneWest Bank, Ally Bank, Banco Popular de Puerto Rico, Bank of the West, BMO Harris, BOK Financial Corp, Caliber Home Loans, Inc, Capital One, Deutsche Bank and EverBank.

Nationally, complaints reached a high of 5,840 for January 2013, 1,107 more than the next highest month of April 2013. The total emerging for September is the second lowest since records were first kept in December 2011. On a state by state level, this pattern largely repeats with a major exception for Florida which saw a peak of 849 complaints in June 2012. Then, as now, Florida was one of the top five states in the nation in its foreclosure rate. The national January spike came as the Qualified Mortgage standard required by the The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 came into play. It required mortgage lenders to take steps to insure borrowers could repay their mortgages.

Bank of America’s complaint volume follows the national trend, with a spike in January 2013 with 1,925 total complaints. Unlike nationally, the next month by volume of complaints was February of this year with 1,598 complaints. Prior to that, the highest month was May 2012 with 1,418 complaints. The lowest volume of complaints is September this year with 334.

Wells Fargo matched national trends for volume of complaints by month, with the exception of the current month being the lowest on record for number of complaints with 197 compared to the next lowest month, December 2011, when they had 221. JPMorgan’s complaint volume by month spiked in January and March of this year with 504 complaints. April of this year was the next highest month with 493 complaints, edging out May of last year with 488 complaints. September this year is on track to be the lowest month by complaint volume.

The federal government shutdown is unlikely to impact the current mortgage situation in the United States directly for most consumers, though mortgage processing by the Federal Housing Administration could be slower, resulting in fewer mortgages processed.