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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.”

Thursday, July 19, 2007

The French web survey provider XiTiMonitor reports that in their study conducted from Monday, July 2 to Sunday, July 8, 2007 on 95,827 websites, web browser Mozilla Firefox reached a 27.8% share in Europe, compared to 21.1% during the same period last year.

Firefox has its biggest market share in Slovenia and Finland where it amounts to 47.9% and 45.4%, respectively, while only 14.6% of people from the Netherlands and 15.2% of surfers in Denmark used Firefox in this survey. The share rose most in Ireland: from 24.9% to 38.6% (i.e. +13.7 points).

Microsoft’s web browser Internet Explorer remains the most used browser in Europe with a market share of 66.5%. Opera and Safari have a 3.5% and 1.7% share respectively, with other browsers at less than 1%.

Oceania remains the region with the highest usage of the freely licensed and open source software browser Firefox, with 28.9%. The continent with the strongest relative increase in market share is South America, where there is a 30% increase compared to last March. Numbers from the U.S.-based company Net Applications Inc. last month showed a fall in Firefox’s share from 15.42% in April to 14.54%.

Thursday, November 16, 2006

Buffalo, New York —A proposed hotel that was supposed to be built at the corner of Elmwood and Forest Avenues in Buffalo, New York is apparently off the table. The former proposal was going to be called The Elmwood Village Hotel and would have consisted of 72 rooms and cost between $7 to $10 million American dollars to build.

Today several unknown individuals were seen removing a sign that was dedicated to the “Elmwood Village Gateway,” which signifies the beginning of the Elmwood Village at the formerly proposed project’s location.

Nearly an hour later the men replaced the sign with a different and unexpected sign: “For Sale: 5 commercial parcels and 1 carriage house, By: Owner.” Those 5 “parcels” are 1109-1121 Elmwood and 999 Forest Avenue, which is located in an illegal alley, according to the City of Buffalo, behind the 5 other properties on Elmwood. Hans Mobius owns all properties named in the sale.

Sam Savarino, CEO of Savarino Companies never owned the properties and has repeatadly told Wikinews in exclusive interviews that he still had a “contract to buy the properties” and on October 2, 2006 told Wikinews in an exclusive interview that he “extended” the “agreement to purchase the property[s] and will have it under contract for what we hope is a sufficient period of time.”

“He [Mobius] is undoubtedly concerned because he has lost some tenants and is a bit impatient. I think he has properly portrayed the situation,” said Savarino in an exclusive interview with Wikinews.

Savarino also says that there may be “legal issues” to work out now, before anything else can move forward, regarding the proposal.

“There are some legal complexities that must be sorted out before anything can happen there,” added Savarino.

The welcome sign was; however, not removed entirely. The sign was placed, facing the same direction of north, on the side of the Forest Plaza Art Gallery, a new art gallery located on the corner of Forest and Elmwood.

Nancy Pollina, owner of Don Apparel which was located at 1109 Elmwood, but closed on October 14, 2006 considers this a possible “victory” in regards to the lawsuit filed against the hotel to stop it from being built, alleging that several laws were broken, including not performing an Environmental Impact Study before the proposal was approved by the city, during its approval and the proposal was “rushed.” Patricia Morris, who operates Don Apparel with Pollina, Angeline Genovese and Evelyn Bencinich, owners of residences on Granger Place which abut the rear of the proposed site, Nina Freudenheim, a resident of nearby Penhurst Park, and Sandra Girage, the owner of a two-family residence on Forest Avenue less than a hundred feet from the proposed hotel’s sole entrance and exit driveway, were also plaintiffs in the lawsuit. They filed the suit with a lawyer representing them, Arthur J. Giacalone, on April 25, 2006 in New York State Supreme Court, but the case has never gone to a courtroom.

Giacalone believes that a press release issued in July regarding the project was nothing but a statement to “save face,” but that the placement of the for sale sign might be a way of convincing Savarino to speed up the sale of the properties.

“I thought all along that Savarino’s July press release might be no more than an effort to save face. But we have no way of knowing. Similarly, Mobius might have put the for-sale sign up in an attempt to pressure Savarino into closing the deal. There’s no way to tell,” said Giacalone in an exclusive interview with Wikinews.

In regards to the lawsuit, Giacalone thinks it may now be in “limbo.”

“The lawsuit still sits in limbo,” added Giacalone.