A compilation of brief news reports for Saturday, December 6, 2008.

The global monthly sales of German car maker BMW have fallen by more than a quarter, as consumers are spending less due to the economic slowdown.

According to the company, BMW sales have fallen 26.2% in November from a year ago, whilst sales of its Mini subsidiary, which is based in the United Kingdom, were 20.8% lower. Sales in November for BMW’s luxury Rolls-Royce branch were also down 18.5%.

From the period of January to November, the company sold 1.32 million cars, 1.8 percent fewer than last year, when it sold 1.34 million vehicles.

Sources

• “BMW sales dip more than a quarter” — BBC News Online, December 5, 2008
• “BMW’s November sales slide 25 percent” — The Miami Herald, December 5, 2008

The United States space agency NASA has put off the launch of Mars Science Laboratory rover mission. It was scheduled to fly next year, but the mission has been delayed by testing and hardware problems.

According to agency officials, the launch of the rover would be postponed until 2011. The delay could add US$400 million to the cost of the mission, which is likely to be higher than $2 billion.

“We will not lessen our standards for testing the mission’s complex flight systems, so we are choosing the more responsible option of changing the launch date,” said Dough McCuistion, the director NASA’s Mars program.

Sources

• “Nasa delays its next Mars mission” — BBC News Online, December 5, 2008
• “NASA delays next Mars rover mission” — The Earth Times, December 5, 2008

Three Canadian soldiers were killed by a bomb in southern Afghanistan Friday, bringing the number of Canadian military casualties in the war to 100.

Canada’s top commander in Afghanistan, Brigadier General Denis Thompson, said that his troops were bringing “peace and stability” to the country. 2,500 Canadian troops are based in southern Afghanistan as part of NATO’s mission to defeat the Taliban.

Canada’s military presence in Afghanistan is due to end in 2011.

Sources

• “Canada Afghan death toll hits 100” — BBC News Online, December 5, 2008
• Agence France-Presse. “Afghanistan deaths bring Canada troops’ toll to 100: military” — Google News, December 5, 2008

Armed robbers pulled off a record jewelery heist in Paris, France when they on Thursday robbed the Harry Winston store near Avenue des Champs-Élysées.

Four male thieves, two of whom where dressed as women, stole most of the inventory of the high-profile boutique. The loot has been valued at €85 million (US$107 million).

The robbers brandished firearms and forced fifteen customers and staff into a corner of the store. No shots were fired and no one is reported hurt. Police have no immediate leads.

Sources

• “Robbers in drag steal $100M in jewel heist” — CNN, December 5, 2008
• Agence Press-France. “Diamond thieves pull off 100-million-dollar Paris heist” — Google News, December 5, 2008

Monday, December 3, 2007

At Thanksgiving dinner David Shankbone told his white middle class family that he was to interview Reverend Al Sharpton that Saturday. The announcement caused an impassioned discussion about the civil rights leader’s work, the problems facing the black community and whether Sharpton helps or hurts his cause. Opinion was divided. “He’s an opportunist.” “He only stirs things up.” “Why do I always see his face when there’s a problem?”

Shankbone went to the National Action Network’s headquarters in Harlem with this Thanksgiving discussion to inform the conversation. Below is his interview with Al Sharpton on everything from Tawana Brawley, his purported feud with Barack Obama, criticism by influential African Americans such as Clarence Page, his experience running for President, to how he never expected he would see fifty (he is now 53). “People would say to me, ‘Now that I hear you, even if I disagree with you I don’t think you’re as bad as I thought,'” said Sharpton. “I would say, ‘Let me ask you a question: what was “bad as you thought”?’ And they couldn’t say. They don’t know why they think you’re bad, they just know you’re supposed to be bad because the right wing tells them you’re bad.”

Saturday, October 9, 2010

Kolontar, Hungary is currently being evacuated as new damage was discovered at the burst reservoir that spilled hazardous sludge on Monday 04 October 2010 in Western Hungary. If the embankment dam of the storage pond that already released about 700,000 cubic meters of highly alkaline (pH ~13) red sludge into the area would entirely collapse, an extra volume of 500,000 cubic meters of red mud could be released.

A second spill containing more sediments from the bottom of the reservoir would be heavier and thicker than the first one, and would move less rapidly. The flash flood of Monday already killed seven people, chemically burnt 150 others, and left the land and the surface water devastated by the sodium hydroxide and the iron oxides bearing also traces of heavy metals. According to Reuters the prime minister of Hungary, Viktor Orban, arrived in the village Saturday morning.

It is also being reported that the newly discovered damage is minor; however, disaster crews do not want to take any chances and are evacuating the village’s 800 inhabitants as a precaution. The evacuees are being taken to a sports hall and two high schools, which are eight kilometers away from the reservoir in a town called Ajka.

Monday, June 1, 2009

In a televised speech from the White House at 16:00 UTC today, President of the United States Barack Obama presented a reorganization plan following the 12:00 UTC announcement by General Motors that it had filed for bankruptcy and Chapter 11 protection from its creditors, the largest bankruptcy of a U.S. manufacturing company.

Describing the problem with the company as one that had been “decades in the making,” Obama explained the rationale behind his proposed reorganization plan for General Motors. He stated that his intent was not to “perpetuat[e] the bad business decisions of the past,” and that loaning General Motors money, when debt was its problem, would have been doing exactly that. His plan, he stated, was for the United States government, in conjunction with the governments of Canada and Ontario (which he thanked for their roles alongside the government of Germany which he thanked for its role in selling a corporate stake in GM Europe), to become shareholders in General Motors. The United States government would hold a 60% stake. The government will give GM a capital infusion of US$30 billion in addition to the funds it has already received.

Of the government ownership he stated that he refused “to let General Motors and Chrysler become wards of the state”, and described the bankruptcy of Chrysler, and the bankruptcy of General Motors that he envisioned as being “quick, surgical, bankruptcies”. He pointed to the bankruptcy of Chrysler as an example of what he envision for General Motors, but stated that General Motors was a “more complex company” than Chrysler.

Responding to challenges voiced by political opponents, before the speech, that the federal government would actively participate in the affairs of the restructured company, he stated that he had “no interest” in running GM, and that the federal government would “refrain from exercising its rights” as a corporate shareholder for the most part. In particular, he stated that the federal government would not exercise its rights as a shareholder to dictate “what new type of car to make.” He stated that he expected the restructured GM to make “high quality, safe, and fuel-efficient cars of tomorrow,” and several times described what he anticipated as “better” and “fuel-efficient” cars, after a streamlining of GM’s brands.

He said to the general public that “I will not pretend that the hard times are over.” He described the financial hardship that some — shareholders, communities based around GM plants, GM dealers, and others — would undergo as a “sacrifice for the next generation” on their parts, so that their children could live in “an America that still makes things,” concluding that one day the United States might return to a time when the maxim (a widely-repeated mis-quotation of what Charles Erwin Wilson once testified before the U.S. Senate when nominated for the position of Secretary of Defense) would once more be true that “what is good for General Motors is good for the United States of America.”

Monday, January 25, 2010

Sales of previously owned homes in the US fell at the fastest rate ever recorded last December, according to data from the National Association of Realtors (NAR).

According to the association, existing home sales fell 16.7% last month, to an annual rate of 5.45 million, the largest crash since 1968. The figure was less than the 5.90 million units, or an eleven percent drop, predicted by most analysts.

Sales of homes went up for the entire of 2009 to 5.156 million units, or 4.9% for the year, and prices dropped from 2008 by 12.4%.

NAR chief economist Lawrence Yun described the figures as being “probably the largest annual drop since the Great Depression”. He said that “the market is going through a period of swings driven by the tax credit. We’re likely to have another surge in the spring. Job creation is the key to a continued recovery in the second half of the year.”

Pierre Ellis, a senior economist for Decision Economics in New York, commented on the figures, saying: “The drop in home sales is the payback for the acceleration of sales that occurred with the original first-time home buyers tax credit. […] There is an issue as to whether the decline represents a fundamental weakening.”

“The housing market continues to face significant headwinds, including high unemployment, record delinquencies and foreclosures, the specter of rising mortgage rates as the Fed’s [mortgage-backed securities] purchase programs comes to a close in late March, and tight credit,” Omair Sharif, an economist for RBS Securities, noted.

“Still, the resale market showed resilience in the second half of 2009, and the expansion and extension of the tax credit to April 30 could boost purchases during the spring selling season,” he said.

“We’ll see a pickup in existing home sales in the next couple of months as people take advantage of the tax-credit extension”, economist Adam York of Wells Fargo Securities LLC in Charlotte, North Carolina claimed. He fore-casted a pace of 5.4 million. He said that there were unlikely to be buyers of homes, despite the fact that the U.S. was “past the bottom.”

All four regions of the country saw a decline in sales. In the Northeast, sales fell 19.5 percent, in the Midwest, they plunged 25.8 percent. The South, the country’s largest region, saw a 16.3% decline, while in the West, sales waned by 4.8%.

US stocks fell slightly after the announcement, but went back up later in the day.

Sunday, February 21, 2010

Three teenage girls were killed in Florida after they were hit by a train while crossing a narrow bridge. The accident occurred Saturday night at around 1830 local time (2330 UTC) in Melbourne, Brevard County. The names of the girls have not been released, as the next of kin are still to be notified.

A boy had walked ahead, and successfully made his way across the bridge. When the other girls began to cross, they had not noticed a train was coming. Melbourne Police Department spokesman Lieutenant Marc Claycomb said “They were unable to get out of the way in time and they were struck by the train.”

Witness John Vallee said he heard the train operated by Florida East Coast Railway make a sudden stop after the incident. He then came the the bridge and made the discovery, and called 9-1-1.

“It’s tragic,” Lieutenant Claycomb said. “There’s no other way to put it.”

Tuesday, January 31, 2006

Today, the nominees for the 78th Academy Awards were announced in Los Angeles, California.

Best Picture nominees this year are Brokeback Mountain, Capote, Crash, Good Night, and Good Luck., and Munich. The director of each of these films received director nominations. Nominees include George Clooney (Good Night, and Good Luck.), Paul Haggis (Crash), Ang Lee (Brokeback Mountain), Bennett Miller (Capote), and Steven Spielberg (Munich). This is the first time since 1981 that every Best Picture nominee also received a nod for Direction.

Brokeback Mountain leads this year’s Oscar pack overall, with eight nominations. Brokeback is followed by Crash, Good Night, and Good Luck., and Memoirs of a Geisha, who each earned six. Capote, Munich, and Walk the Line each received five nominations. King Kong, Pride and Prejudice, and The Constant Gardener picked up four nominations, while Cinderella Man, The Chronicles of Narnia: The Lion, the Witch and the Wardrobe, and War of the Worlds pick up three. A History of Violence, Hustle & Flow, Mrs. Henderson Presents, North Country, Syriana, and Transamerica each received two nods each.

Best Animated Feature Film nominees are Howl’s Moving Castle, Tim Burton’s Corpse Bride, and Wallace & Gromit: The Curse of the Were-Rabbit. None of these films used primarily CGI-animation, the first year this can be claimed, since the 2001 creation of the award category. Corspe Bride marks both Tim Burton and Mike Johnson’s first nominations. Wallace & Gromit’s Steve Box is celebrating his first nomination, while co-producer Nick Park has three Oscars for Best Animation Short, a fourth nomination, of which he lost to himself in 1990. Hayao Miyazaki won the Best Animated Feature award in 2002, for Spirited Away.

Uniquely neither animation powerhouse, Disney or DreamWorks, is directly nominated in the category. Disney’s Buena Vista Entertainment distributes Miyazaki film Howl’s Moving Castle, while DreamWorks distributed Wallace and Gromit, animated by Aardman Animations.

Best Foreign Language Film nominees include Italian film Don’t Tell, France’s Joyeux Noël, Palestine’s Paradise Now, Germany’s Sophie Scholl – The Final Days, and South Africa’s Tsotsi. Italy has been up for an Oscar 27 times, France 34 times, and Germany has had six nominations. This is only South Africa’s second nomination, with the first coming last year, and Palestine’s first ever Academy Award nomination.

Nominees for Best Documentary Feature are Darwin’s Nightmare, Enron: The Smartest Guys in the Room, March of the Penguins, Murderball, and Street Fight. March of the Penguins, produced in France, actually grossed more than any of the Best Picture nominees, the first time in history such an occurrence has happened.

The top 19 films in box office received a total of only 14 nominations, with a majority of these in the categories of Visual Effects, Sound Mixing and Sound Editing.

Perhaps one of the most interesting stories for Hollywood as a whole, is the tremendous success of Participant Productions in its first year of operation. eBay founder Jeff Skoll‘s movie house produced nominees Good Night and Good Luck. (6), North Country (2), Syriana (2), and Murderball (1). The company aims to fund feature films and documentaries that promote social values while still being commercially viable.

The 78th Academy Awards presentation will be held on Sunday, March 5.

• Philip Seymour Hoffman – Capote
• Terrence Howard – Hustle & Flow
• Heath Ledger – Brokeback Mountain
• Joaquin Phoenix – Walk the Line
• David Strathairn – Good Night, and Good Luck

• George Clooney – Syriana
• Matt Dillon – Crash
• Paul Giamatti – Cinderella Man
• Jake Gyllenhaal – Brokeback Mountain
• William Hurt – A History of Violence

• Judi Dench – Mrs. Henderson Presents
• Felicity Huffman – Transamerica
• Keira Knightley – Pride & Prejudice
• Charlize Theron – North Country
• Reese Witherspoon – Walk the Line

• Amy Adams – Junebug
• Catherine Keener – Capote
• Frances McDormand – North Country
• Rachel Weisz – The Constant Gardener
• Michelle Williams – Brokeback Mountain

• Brokeback Mountain
• Capote
• The Constant Gardener
• A History of Violence
• Munich

• Crash
• Good Night, and Good Luck
• Match Point
• The Squid and the Whale
• Syriana

• Good Night, and Good Luck
• Harry Potter and the Goblet of Fire
• King Kong
• Memoirs of a Geisha
• Pride & Prejudice

• Batman Begins
• Brokeback Mountain
• Good Night, and Good Luck
• Memoirs of a Geisha
• The New World

• Charlie and the Chocolate Factory
• Memoirs of a Geisha
• Mrs. Henderson Presents
• Pride & Prejudice
• Walk the Line

• The Death of Kevin Carter: Casualty of the Bang Bang Club
• God Sleeps in Rwanda
• The Mushroom Club
• A Note of Triumph: The Golden Age of Norman Corwin

• Cinderella Man
• The Constant Gardener
• Crash
• Munich
• Walk the Line

• The Chronicles of Narnia: The Lion, the Witch and the Wardrobe
• Cinderella Man
• Star Wars Episode III: Revenge of the Sith

• Brokeback Mountain
• The Constant Gardener
• Memoirs of a Geisha
• Munich
• Pride & Prejudice

• In the Deep – Crash
• It’s Hard Out Here For a Pimp – Hustle & Flow
• Travelin’ Thru – Transamerica

• Badgered
• The Moon and the Son: An Imagined Conversation
• The Mysterious Geographic Explorations of Jasper Morello
• 9
• One Man Band

• Ausreisser (The Runaway)
• Cashback
• The Last Farm
• Our Time is Up
• Six Shooter

• King Kong
• Memoirs of a Geisha
• War of the Worlds

• The Chronicles of Narnia: The Lion, the Witch and the Wardrobe
• King Kong
• Memoirs of a Geisha
• Walk the Line
• War of the Worlds

• The Chronicles of Narnia: The Lion, the Witch and the Wardrobe
• King Kong
• War of the Worlds

Friday, May 12, 2006

Peter Costello’s budget announcement has led to rejoicing for small businesses, but the lack of joy for those pushing for radical corporate taxation reform has led to many businesses asking “what about us?”

Personal taxation and small business have been the big winners after this year’s federal budget. Although dampened by the twin economic threats of rising interest rates and petrol prices, there should be a reasonable amount of real income savings for both low and high income earners, with those receiving Medicare, or a superannuation benefit, privy to an even lower level of taxation (0% for those on super benefits).

Small business also has benefited from the Howard government’s 11th annual budget, with them receiving a higher level of reducing depreciation, leading to a higher level of deductions in the years following the uptake of new technology or other capital. They are also privy to a AU$435 million dollar tax cut to compensate for their changing accounting requirements under the government’s new AIFRS reporting standards, as well as increasing the uptake of both the small business tax relief scheme and CGT (Capital Gains tax) Concessions.

The budget was not a complete loss for big business however, as superannuation laws have been tweaked to streamline contribution and payment rules previously impeding those with multitudes of staff.

But this is not enough, says Big 4 accounting firm Ernst & Young. In their newly published paper “Taxation of Investment in Australia: the need for ongoing reform”. In it they lead the charge for a greater streamlining and organization of the corporate tax system in Australia, submitting that it will lead to reductions in “disincentives to work save and invest in Australia [as well as improving] the international competitiveness of Australian businesses.” This follows from a recent report brought out by Mr. Costello himself about the need for tax reform in Australia.

A budget night Mr. Costello was notably coy about any future reform of corporate tax in Australia. He alluded to the report by his ministers but kept from outlining the government’s plan precisely.