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Friday, October 17, 2008

The International Monetary Fund (IMF) is preparing a series of loans to both Hungary and Ukraine as financial problems are hitting the two countries. Hungary has already received a €5 billion credit line from the European Central Bank (ECB). Ukraine is seeking a loan of up to US$14 billion.

The credit line to Hungary will be used to cover banks’ shortage of euros. Hungary has a severe debt problem with them posting an account deficit of €5.3 billion or 4.9% of GDP this year. As a result of this, Hungary is unable to find suitable credit to store up its supply of euros.

“We are in close dialogue with the Hungarian authorities and the EU to discuss further responses to the current challenges, including possible technical and financial support by the IMF”, said Dominique Strauss-Kahn, Managing Director of the IMF. “I have informed the authorities that the IMF stands ready to assist their efforts. We will provide technical assistance as needed and, in the context of a supportive policy setting, are ready to undertake [decisions] on possible financial assistance, responding rapidly.”

Ukraine’s Finance Minister Viktor Pynzenyk met with an IMF team on Thursday. In a statement, Pynzenyk said “the parties discussed a situation of influence the world financial crisis had on the economy of Ukraine.” It is not yet known how much the IMF is expected to lend to Ukraine but it is expected to be between $3 billion to $14 billion. It is also not known what type of conditions might be placed on the loan.

In addition to financial uncertainty, Ukraine is suffering from political turmoil with the current President, Viktor Yushchenko, calling a snap parliamentary election for December. The Prime Minister, Yulia Tymoshenko, has made moves to stop the election. Ukraine’s yearly trade deficit has increased by almost $7 billion since last year.

The credit line by the European Central Bank is the first time publicly that it has extended help to countries other than the 15 that make up the Eurozone.

According to Reuters, Hungary might be able to start the process of joining the euro quicker then expected. Currently, Hungary is on track to join the euro in 2011 or 2012, but if sped up, it is possible it could join as early as 2010. This might protect Hungary from further financial problems.

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.

Tuesday, January 20, 2009

Today, the official ceremony ushering in Barack H. Obama II as the new president of the United States took place at the United States Capitol in Washington, D.C.. A 21-gun salute, as well as the playing of four ruffles and flourishes and “Hail to the Chief”, marked the moment he assumed power from his predecessor, George W. Bush.

Bush’s second term as President of the United States, which began on January 20, 2005, expired with the swearing-in of the 44th President of the United States, Barack Obama, at noon EST (UTC-5), under the provisions of the Twentieth Amendment to the United States Constitution.

Bush performed his final official act this morning, welcoming Barack Obama and Michelle to the White House for coffee before the swearing-in, shortly before 10am EST, and then accompanied them there by motorcade to attend the ceremony. Last week, Bush had made his farewells to the nation in a televised address, saying that the inauguration turns a page in race relations. “Obama’s story — his black father was from Kenya, his white mother from Kansas — represents “the enduring promise of our land,” said Bush.

Pope Benedict XVI on Tuesday called on Obama to seek “understanding, co-operation and peace” among nations. “I offer cordial good wishes, together with the assurance of my prayers that Almighty God will grant you unfailing wisdom and strength in the exercise of your high responsibilities,” the Pontiff said.

The National Mall gates at the inaugural ceremony opened early, with official introductions beginning around 11:30am EST. On the west front lawn of the U.S. Capitol, Senator Dianne Feinstein provided the call to order and welcoming remarks, shortly after followed by invocation by the Rev. Rick Warren and a musical performance by Aretha Franklin.

Vice President-elect Joseph R. Biden, Jr., a Democrat, who was elected Vice President in the 2008 presidential election, took his oath of office, succeeding Dick Cheney. Biden took his oath at 11:57am EST from Associate Justice John Paul Stevens.

Supreme Court Chief Justice John Glover Roberts, Jr. then administered the oath of office to Obama, under Article II, Section 1, Clause 8. “I do solemnly swear (or affirm) that I will faithfully execute the office of President of the United States, and will to the best of my ability, preserve, protect, and defend the Constitution of the United States. So help me God,” Obama swore, using the 1861 President Lincoln Inaugural Bible.

First Lady Michelle LaVaughn Robinson Obama and daughters Malia Ann and Sasha, Senate Majority Leader Harry Reid, and Speaker of the House Nancy Pelosi were among the record-setting crowd of over 2 million people, including more than a million people that filled the National Mall. Vice President Dick Cheney arrived in a wheelchair, having pulled a muscle in his back while moving, White House spokeswoman Dana Perino said.

Obama has decided to follow tradition and use his full name, including his middle name Hussein, regardless of its past and present use by detractors as an effort to slander his image. The advanced scheduled program stated that the inaugural address was to be delivered by “the President of the United States, The Honorable Barack H. Obama.”

The President delivered his inaugural address in front of Capitol Hill with the theme “A New Birth of Freedom,” commemorating the 200th anniversary of the birth of Abraham Lincoln, said Feinstein.

Obama focused on the restoration of public confidence and personal “responsibility,” reassuring recession-weary Americans they can rebound from hard times. He conveyed to the world his desire to fix a battered U.S. image overseas. He asked the nation to reject the “culture of anything goes” and to restore a national value system that honors responsibility and accountability. Elizabeth Alexander recited a poem, followed by the benediction by Rev. Joseph E. Lowery. The National Anthem was thereafter played by The United States Navy Band “Sea Chanters.”

Over 200 million viewers worldwide had watched inauguration videos and live streams provided online by a number of news organizations and online video broadcasting companies over the internet. The event was also available live to select iPhone users.

Following his speech, President Obama escorted former President George W. Bush at 12:53pm EST as they left for a departure ceremony. Bush lifted off, ending his 8 years as president, with Obama waving goodbye from the courtyard of the US Capitol.

At 2:35pm EST in the Capitol’s Statuary Hall, at the inaugural luncheon attended by Obama, it is reported that Ted Kennedy had a stroke. Paramedics arrived and took the senator to a hospital.

A parade extended for over two hours in the afternoon. It included 15,000 people, 240 horses, dozens of marching bands, two drum and bugle corps, and one mariachi band from Espanola, New Mexico.

Just after 4pm EST, Obama and his wife joined the celebrating crowds on Pennsylvania Avenue. After a short time waving to the masses, they returned to the Presidential Limousine, a 2009 Cadillac, which transported them to the White House. The First Limo has replaced President Bush’s Cadillac DTS Presidential Limousine that rolled out in 2004.

Mr and Mrs Obama plan to attend a total of ten official inaugural balls, including the Neighbourhood Ball, the Obama Home States (Illinois and Hawaii) Ball, the Biden Home States (Pennsylvania and Delaware) Ball and the Youth Ball. American R&B singer-songwriter Beyoncé has been planned to perform the first dance song. The Obamas will return to the White House, their new home, following the last ball.

Tuesday, September 25, 2007

Billy Murrell, a persistent graffiti vandal from South East London, has become the first recipient of an Anti-Social Behaviour Order (Asbo) granted to Transport for London (TfL) by Greenwich Magistrates. The civil order also bans him from the top deck of buses throughout England and Wales for three years.

Murrell, a 17-year-old from Plumstead, has a history of convictions for criminal damage on public transport, including vandalising a Tube carriage in Brixton station and for damaging buses and other public property using marker pens.

This is Transport for London’s first Anti-Social Behaviour Order against a graffiti vandal — TfL was granted the power to apply for Asbos by the Home Secretary in September 2006.

The Anti-Social Behaviour Order was issued at Greenwich Magistrates Court on 12 September and also bans him from carrying any permanent marker pens or any glass cutting equipment on London Underground, railway property or any other transport provider’s property.

Metropolitan and Transport police have been made aware of Murrell’s Asbo, and have distributed his photo.

In detail, Murrell is prohibited from:

• Entering any depot, siding or other part of London Underground property or railway property or any transport providers property which is not expressly open to the public whether on payment or otherwise throughout England and Wales

• Carrying the following articles, in any area specified (above) or in any public place, namely any form of unset paint in any form of container, any form of permanent marker pen, any form of shoe dye or permanent ink in any form of container, any form of paint stripper in any form of container, any form of grinding stone, glass cutting equipment, glass etching solution or paste, throughout England and Wales

• Aiding, abetting, counselling or encourage any person who was attempting or committing any form of unlawful damage towards any property not belonging to or under the direct authorised control of the defendant throughout England and Wales

• Travelling on the top deck of the any public transport bus within England and Wales

If without reasonable excuse the defendant does anything which he is prohibited from doing by this order, he shall be liable to a detention and training order, which has a maximum term of 24 months – 12 months of which is custodial and 12 months in the community

Upon turning 18 he will be liable to imprisonment up to five years.

Sunday, December 11, 2005

New York City is on track to grind to a halt on December 15 when the Transport Workers Union Local 100 contract with the Metropolitan Transportation Authority expires. Union members gathered at Jacob Javits today and unanimously approved a strike authorization if the negotaions between the TWU and MTA fail. Among the many disagreements are the MTA’s employee rules and salary increases.

MTA employees have complained about the rule that requires them to call and alert a supervisor prior to taking a bathroom break of no more than ten minutes. Workers have pointed out that supervisors are not always accessible, especially during the overnight shifts. Another rule in dispute is the employee’s uniform: “Sikh workers, whose religion requires they wear a turban, must wear one made of TA-issued fabric with the TA logo front and center.”[1] But the major sticking point has been the pay raises. The union has demanded an 8% increase per year for the next three years, but the MTA has offered 5% over two years. The MTA was running a deficit during the previous contract negotiation in 2002, forcing the TWU to accept what the MTA offered. But now, reportedly US$1 billion in the black and offering free rides for the holidays to its riders, the union is looking to cash in on the MTA’s good fortunes.

The TWU began broadcasting radio advertisements on the news stations 1010 WINS-AM and 880 WCBS-AM to gain public support. Part of it goes “MTA bosses are making buses run faster, while carrying more people, and don’t even give the operators enough time for a bathroom break” and “Security alert levels are still high, but MTA bosses are taking conductors off trains, closing token booths and installing turnstiles that make emergency evacuation very difficult.”Michael Bloomberg had stressed in the negotiations of 2002 that the city would enforce the Taylor Law, which prohibits public employees from striking and fines strikers two days wages each striking day. Echoing his previous position three years ago, Mayor Bloomberg said “They should stay in a room until they come to an agreement.” Corporation Counsel Michael Cardozo said a strike could cost as much as US$10 million a day in police overtime and other expenses.

The last transit strike was in April 1980, and lasted for eleven days. TWU President Roger Toussaint called the proposed health provisions, pension givebacks, and wage increase “an insult to our members”, and went on to suggest that the odds of a strike were 50/50. Both Toussaint and chief MTA negotiator Gary Dellaverson said they were confident that a strike could be averted, but union members made clear that they will strike if – or as most commuters fear, when – the negotiations fail and the deadline is passed.

Saturday, January 19, 2008

Matthew Higa, 23, has been arrested in connection with the death of a 23-month-old boy. Higa is alleged to have thrown the child from a pedestrian overpass into oncoming traffic on Honolulu’s H-1 Freeway.

The local coroner’s office noted that the child died on impact after falling 30 feet (9 meters) from the overpass. This occurred during Thursday’s lunch rush hour in the heart of downtown. Upon impact, several cars struck the child, which caused traffic to grind to a halt.

The toddler, Cyrus Nainoa Tupa?i Belt, was pronounced dead at the scene at 12:07 p.m. (2207 UTC), approximately 27 minutes after being allegedly being ejected from the overpass by Higa. The portion of H-1 was closed for approximately five hours with traffic diverted to side streets. The freeway was reopened in time for the evening commute.

At first the relationship between Higa and the child was unclear, but later reports stated that Higa lived adjacent to him and had babysat him on previous occasions. The boy’s mother was out of town at the time of his death, but it was revealed that the child was supposed to be in the custody of his father and not with Higa.

Higa graduated from Roosevelt High School in 2003. In the summer of 2004 Higa was involved in an incident where police reports indicate a three-car race resulted in the death of a friend. Higa has since had a criminal history, with more than a dozen arrests but no convictions, and reports from neighbors of erratic behavior.

Queen’s Medical Center, which houses a psychiatric ward in Honolulu, noted that he was a patient there as recently as December 11, 2007. When arrested, Higa was wearing hospital scrubs, which were not immediately conducive to whether Higa was a patient in Queen’s psychiatric wing in the last couple of days. A representative of Queen’s declined to comment on whether Higa was admitted in the last week.