Tuesday, February 23, 2010

Toyota has been accused by a U.S. House of Representatives committee with misleading the public and investigators over its recent recalls.

The accusations, in a statement from the House Energy and Commerce Committee, claim that Toyota both relied on a flawed study in its assessment of the issue of sticking accelerator pedals at the heart of the recalls, and then made misleading statements about its response. According to the authors of the letter, Henry Waxman and Bart Stupak, Toyota dismissed, rather than investigated, the idea that the cars’ computers were at fault. In a statement, James Lentz, the president of Toyota’s American division, claimed that hardware issues were to blame, and that dealers were repairing the faulty part. Toyota also released a study commissioned from the research firm Exponent that said electronic systems were not to blame.

According to the House committee, however, the study involved only six vehicles, none of which had problems with their electrical systems, and was insufficient to produce an accurate result. “Our preliminary assessment is that Toyota resisted the possibility that electronic defects could cause safety concerns, relied on a flawed engineering report and made misleading public statements concerning the adequacy of recent recalls to address the risk of sudden unintended acceleration.”

The company is under a criminal investigation, and has received two subpoenas for documents from two House committees relating to the recalls, although whether they are directly related to the letter is unclear. The documents are related to accelerator issues in several models, as well as brake problems with the Prius hybrid car, and were served earlier in in February by a federal grand jury and the Securities and Exchange Commission. Toyota has released upwards of 75,000 pages of documents under the requests.

In a separate, though related, development, it has emerged that Toyota last year negotiated a limited recall for two models, the Toyota Camry and Lexus ES, that were affected by the accelerator recalls, saving the company an estimated $100 million. A confidential internal presentation in July 2009 made the claim, and a month later, a Lexus ES, one of the models under the limited recall crashed in California, killing four people. The claims apparently referenced a September, 2007 recall of floor mats that could trap gas pedals, the same problem that triggered a full recall of numerous Toyota cars to fix the same problem. In the same presentation, the company claimed to have avoided recalls of another model related to rust, as well as delaying new federal safety regulations.

Sunday, December 13, 2015

Macomb, New York Councilman Steve Burke took some time to speak with Wikinews about his campaign for the U.S. Democratic Party’s 2016 presidential nomination.

Burke, an insurance adjuster and farmer, was elected councilman in Brookhaven, New York in 1979. He left the town after being accused and found not guilty of bribery in the 1980s. Since 1987 he has served as Macomb councilman off-and-on and currently holds the post. From 1993 to 1996 and 1999 to 2002 he worked as chairman of the Democratic Party of St. Lawrence County, New York. Among his many political campaigns, Burke unsuccessfully sought the Democratic Party’s presidential nomination in 1992 and recently attempted to run for U.S. Congress in 2014 but too many of his ballot petition signatures were found invalid. Burke filed with the Federal Election Commission to run for president in the 2016 election on September 18, 2015 and has qualified for the first-in-the-nation New Hampshire Primary.

With Wikinews reporter William S. Saturn?, Burke discusses his political background, his 2016 presidential campaign, and his policy proposals.

Tuesday, May 31, 2005

One thousand residents of the Defense Department-managed Armed Forces Retirement Home in Washington, D.C. filed a class-action lawsuit on May 24, asserting that the cut-backs in medical and dental services imposed by Secretary of Defense Donald Rumsfeld are illegal. The operating budget for the home was reduced from $63 million in 2004 to $58 million for 2005. The residents cite cuts in on-site X-ray, electrocardiogram, physical and dental services, and the closing of the home’s main clinic and an on-site pharmacy.

Chief Financial Officer Steve McManus responded that the changes not only save money but also achieved improved efficiencies. “We’re really trying to improve the benefits to our residents,” he said.

Most of the home’s costs are paid for by a trust fund and monthly fees paid by residents. By law, the Armed Forces Retirement Homes are required to fund, “on-site primary care, medical care and a continuum of long-term care services.”

Wednesday, January 25, 2017

Today, Spanish tennis player Rafael Nadal defeated Canadian player and current world number 3 Milos Raonic in three straight sets in the Australian Open’s quarter-finals. Defeating Raonic 6–4, 7–6, 6–4, Nadal is to face fifteenth seeded Bulgarian player Grigor Dimitrov in his fifth semi-finals appearance at the Rod Laver Arena.

In the first set, Raonic served six aces, but committed ten unforced errors. Nadal won the first set 6–4 in 43 minutes. The second set lasted for 81 minutes, going to 6–6. Nadal bettered the two, in the tie breaker. Nadal registered only four aces in the entire match as compared to Raonic’s fourteen but won two break points. Nadal won the third set winning it 6–4 to register his 50th win in the Australian Open in two hours and 44 minutes.

Nadal’s head to head record against the Canadian is 7–2. He recently lost against Raonic in the Brisbane Open. Nadal bagged 88% net points in the match winning 76 points in the first serve. After the match, King of Clay said, “I am just excited about being back in the final rounds of the most important events. I am here to try to win this. It is always difficult, but I fought and I worked hard to try to make that happen.” Nadal has not featured in any of the Grand Slam semi-finals after 2014’s French Open.

Swiss player and 2014 winner Stan Wawrinka is only player from the top five seed left in the tournament. He is to face his compatriot Roger Federer in the semi-final.

Sunday, January 10, 2010

Two people in Kenya died earlier today after a five-storeyed building under construction in the town of Kiambu collapsed. Four others were said to have been injured.

The incident occurred in the middle of the night, at 02:30 local time (23:30 UTC), on Sunday morning. The building was only a few metres from another building that collapsed in October of last year, killing thirty people.

The building is reported to have been condemned last year, when the authorities deemed it substandard. Preparations to demolish the building started yesterday, in accordance with a court order that required the building to be destroyed within thirty days.

One of the casualties from the accident was Maina Irungu, aged seventeen; the other hasn’t been identified. People wounded by the collapse were taken to the Kiambu District Hospital. The victims were all people who lived in houses near the collapsed building. Rescue operations are still ongoing, being conducted by the Red Cross, police, and military. Officials also ordered evacuation of two buildings in the vicinity when cracks were spotted on them, according to Capital FM Kenya.

This story in itself is reflective of a major infrastructure problem in Kenya, according to the BBC, China says it will give a US$7 million (£4.4m, €4.9m) grant to help fund infrastructure development projects in Kenya.

Sunday, April 24, 2005

New York Stock Exchange (NYSE) announced last Wednesday that it has agreed definitively to merge with Chicago-based Archipelago Exchange (ArcaEx) and form a new publicly traded, for-profit company known as NYSE Group. This announcement was followed two days later by NASDAQ®, which independently announced a definitive agreement to purchase Instinet Group.

Archipelago and Instinet are innovative e-trading (electronic trading) companies, and formerly were the two largest American rivals to NYSE and NASDAQ, in recent years taking increasingly large portions of their market share. The Securities and Exchange Commission (SEC) and other regulatory agencies still have to review and approve the transactions, particularly with respect to US securities law and antitrust law, in order to ensure that the marketplace remains lawful and competitive.

Other pending issues for NASDAQ include obtaining the approval of Instinet shareholders, as well as customary closing conditions. NYSE must obtain the approval of its members and Archipelago shareholders.

These changes, a reaction to increased e-trading competition and a changed regulatory environment, will result in NASDAQ and NYSE trading each other’s shares and attempting to grab market share, which many hope will drive down transaction costs and ultimately benefit consumers. However, at least one commentator, Dan Ackman writing in Forbes, has noted that the trading commission at the NYSE currently averages less than a nickel (US$0.05) per share, and was less enthusiastic about potential efficiency gains from electronic trading at the exchange.

The transactions are also intended to make the two leading American stock exchanges more globally competitive with such exchanges as the London Stock Exchange, the Frankfurt Stock Exchange, the Toronto Stock Exchange, and the Australian Stock Exchange located in Sydney.

Thursday, June 4, 2009

In a New York press conference at 16:15 UTC, June 1st, Fritz Henderson, the Chief Executive Officer of General Motors, which filed for bankruptcy and Chapter 11 protection from its creditors earlier today, outlined a plan for what he called a “New GM”.

Speaking to the press under safe harbor provisions of U.S. law, Henderson described the events of today as a “defining moment” in the history of General Motors. Speaking to the public he said that “The GM that let you down is history,” and described a “New GM” that he expected to result from the bankruptcy process.

Henderson stated that he envisioned the bankruptcy process would take between 60 and 90 days. He stressed several times his view that the process would be one that is executed quickly, saying that not just a sense of urgency but “pure unadulterated speed” was his expectation of the process. He emphasized that “GM remains open for business” during the bankruptcy period, continuing to sell and to support its products, and that day one motions had been filed in the bankruptcy court in order to allow this.

Regarding the bankruptcy process he said, “We will do it right. And we will do it once.”

He stated that the plan for General Motors had the support of the United Auto Workers union, the Canadian Auto Workers union, the GM VEBA, and a majority of the unsecured bondholders of GM. He also mentioned that GM had already received €1.5 million in bridge financing from the German government.

In response to questions about the possibility of the United States federal government, a majority shareholder in the restructured company, dictating future product development and strategy, such as the sale of more fuel-efficient and green vehicles; he first observed that the federal government had already stated to him that it had “no real interest in running our business” and that he expected that still to be his job. Of the specific hypothetical scenario where the management of GM wants to make one type of car, because it thinks that it is the right thing for the business, and the U.S. government wants to make another type of car, he stated that “I don’t think it’s going to happen.” Expanding on that point he stated that he expected the “New GM” to focus upon “highly fuel-efficient and green technology”, and that operating both in accordance with U.S. environmental laws and in response to customer demand would naturally result in the New GM producing the types of vehicles that the U.S. government would encourage.

The “New GM” he also expected to focus on “four core brands”, and will size its dealership to match that. He stated that GM would offer a “deferred termination” package to dealers, to allow them to cease dealing in GM vehicles in a managed and gradual way.

He stated that the bankruptcy filings did not cover General Motors’ businesses in Latin America, Europe and the Middle East, and Asia and the Pacific. Of GM’s profitable ventures in China, specifically, he stated that they were “a critical part of the New GM”. In response to questions of whether the New GM would import cars from China to the U.S., he stated the formative company’s core principle that “We build where we sell” applied in both directions, with GM building in China to sell in China and building in the U.S. to sell in the U.S., stating that this shortened supply chains.

He declined to predict when the New GM would return to profitability, stating that the goal was rather to lower the break-even EBIT point for the company. He also declined to speculate upon when the U.S. government would sell its stake in the company, saying that that was a question “better addressed to the U.S. Treasury”, and merely saying that he expected it to be “years, not months” when the U.S. Treasury felt it would give “the right return for taxpayers.”

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Thursday, December 1, 2005

In what appeared to be a hostage situation ended in tragedy this afternoon in the quiet Massachusetts town of North Reading when the body of a 72-year old man, Roaldas Baran, and his 65-year old wife, Zinaida Girdauskiene, were found dead in an apparent murder-suicide at 14 Country Club Road.

The situation began when a neighbor heard four gunshots and a woman screaming and called 9-1-1. Police arrived at the home, and encountered the 72-year old man standing over, a brief conversation was held with the man who then went back inside the house. Then a fifth shot was fired. The SWAT team of the North Eastern Massachusetts Law Enforcement Council was brought in to clear the house and evacuate the surrounding houses. The Massachusetts State Police was also on hand.

Martha Coakley, the District Attorney for Middlesex County reported on what was found upon the SWAT team entering the house.

“In the bedroom, lying, apparently a victim of several gunshot wounds, was a female. We know her to be approximately 65-years-old. In the kitchen on the floor, also apparently the victim of a suicide, was a male we know now to be approximately 72-years-old who was her husband.”

Emily LaGrassa, Coxley’s spokeperson said the man apparently shot the woman and turned the gun on himself. Two guns were recovered.

North Reading Police had been called to the house once before in August 2004. The North Reading police are currently investigating further.

Wednesday, November 22, 2006

The 1999 and 2000 year model Honda Civic SiR tops the list of Canada’s most stolen cars.

Consumer popularity also assures the cars will be popular with thieves. Its the second year in a row the Honda SiR has topped the list.

Rick Dubin Vice President of Investigations for the Insurance Bureau of Canada said “The Civics are easy targets.”

Dubin said that once stolen, the cars are most often sold to “chop shops” where thieves completely dismantle the vehicles. The automobile’s individual parts are worth more than the entire car.

The sheer numbers of the cars and their lack of theft deterrent systems make them thieves’ preferred choices.

1999 and 2000 Honda Civics do not come with an electronic immobilizer, however all Hondas from 2001 and onward are equipped with an immobilizer. Immobilizers will be mandatory on all new cars sold beginning September 2007. The devices enable an engine computer to recognize an electronic code in the key. If the code in the key and the engine don’t match exactly, the vehicle can’t be started.

In third place was the 2004 Subaru Impreza, while the 1999 Acura Integra came in fourth, with the 1994 Honda Civic rounding out the top five.

In sixth place, the 1998 Acura Integra, and the 1993 Dodge Shadow completed seventh.

When asked why early model vehicles are selected, he said that, “auto thieves continue to find it easier to steal older vehicles lacking an IBC-approved immobilizer. We’ve seen this trend developing for several years, and these results confirm it.”

Another Honda automobile, the 1996 year model Civic filled eighth place, with the 2000 German Audi TT Quattro in ninth.

The American 1996 Chevrolet/GMC Blazer rounded out the top ten.

None of the above cars had an electronic immobilizer.