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Tuesday, February 21, 2006

SpaceX Corporation has postponed the launch of the maiden flight of their Falcon 1 rocket again at their Kwajalein launch facility. Although not as damaging as the previous delay on November 11, this is certainly a significant set back for Elon Musk, the founder and CEO of SpaceX.

A full engine test was conducted on the rocket, and the launch pad equipment which holds the rocket on the launch pad after engine firing seemed to work as planned. This safety equipment is designed to keep the rocket from causing damage or being destroyed in the event that some equipment malfunction occurs immediately after the rocket engines start. Under similar circumstances with other rockets the entire rocket together with its payload would have been destroyed due to a computer report of malfunction.

The exact reasons for failure were not disclosed by SpaceX, but Elon Musk said on his web site, “I will post a longer update next week, after we have enough time to finish forensics of recent events and formulate next steps.”

Saturday, May 7, 2005

Testing began on a chemical reactor at the Newport Chemical Depot near Terre Haute, Indiana on Friday morning. If successful, the reactor will be put to use destroying the large VX nerve gas stockpiles stored at the facility over the course of the next two years. After the disposal project experienced several delays, the facility announced it would begin pumping VX into a completed disposal unit for testing. The unit consists of a chemical reactor in which the VX will be mixed with water and sodium hydroxide, heated to 194°F while mixed with paddles. The resulting chemical, called hydrolysate, is chemically similar to commercial drain cleaners and has similar properties. If the test is successfully completed , the unit will continue processing the VX until the entire stockpile has been neutralized, a process projected to take two years. Administrators expect to complete testing on May 10, 2005.

According to the controversial plan, the finished waste product would be shipped to New Jersey for final reprocessing. The inert chemical would then be emptied into the Delaware River where natural attenuation would occur.

Residents near the proposed river disposal site in New Jersey oppose this idea. The contractor for the final component of this disposal would be the DuPont Corporation.

NCD is a bulk chemical storage and destruction facility in west central Indiana, thirty miles north of Terre Haute. Originally founded during World War II to produce RDX, a conventional explosive, it later became a site for chemical weapons manufacturing during the Cold War. It is now used to securely store and gradually neutralize part of the US stockpile of VX.

VX was manufactured by the U.S. in the 1950s and 60’s as a deterrent to possible Soviet Union use. It was never deployed, and the manufacture was halted in 1969 after an order signed by then-president Richard Nixon.

In 1999, the Army announced it awarded a disposal contract to Parsons Infrastructure & Technology, Inc., a business unit of Parsons Corporation. Some 220 civilian Parsons employees work at the facility, which is supervised by an Army officer reporting to the U.S. Army Chemical Materials Agency, and a board of civilian government overseers called the Indiana Citizens’ Advisory Commission, some of whose members are appointed by the state governor.

Security at the facility is controversial. A private security service, supplemented by a complement of Indiana National Guard soldiers, guarded the facility until April 14, 2005, when the soldiers were withdrawn. An Indianapolis television station has questioned security measures in some of its special reports.

Monday, March 12, 2007

24 of 26 Swiss Cantons rejected the proposal for a single health insurance system, in which premiums would be based on income and wealth. The vote on Sunday was the latest in a series of attempts to cut rising costs and ease the financial burden on citizens.

Around 71% of voters rejected the reform. Turnout was at about 46%, slightly above the Swiss average.

As expected, voters in the main German-speaking part of the country turned down the planned reform, which was supported by the centre-left but opposed by the centre-right as well as the business community, parliament and the government.

Opposition in the French and Italian speaking regions was less pronounced. The cantons Jura and Neuchâtel in the French speaking regions voted in favor of the proposed reforms.

Health insurance premiums are higher in southern and western Swiss cantons than in German-speaking areas.

The Swiss Interior Minister Pascal Couchepin said an important part of the Swiss Population appeared to be opposed to “a revolution” in health insurance but he said that he wanted current reforms currently under discussion in the Swiss Parliament to go ahead. He called on all sides, especially health insurers and the cantonal authorities, to make efforts to reduce spending on health insurance and aim for a greater cost efficiency. Currently Switzerland has 87 private insurers providing mandatory basic health care coverage for Swiss residents under a 1996 law. But costs have sky-rocketed. Over 100,000 people are not covered by health insurance due to non payment.

Opponents to the initiative argued that a single insurance system would lead to complacency and create a two-tier system, in which the wealthy would be the only ones available to afford to have additional private insurance coverage.

Supporters of the initiative said a single health insurer would increase the system’s efficiency and allow for annual savings of at least 300 million Swiss Francs (about $245 million) in administrative costs. Currently, the funding system is unbalanced, since many clients on low incomes use state subsidies to pay their premiums, according to the Green Party and the Social Democrats.

The initiative to unite all the insurance companies and introduce premiums based on wealth and income was the most recent in a series of attempts over the past ten years to reduce the public spending on health care. A proposal, similar to this recent proposal, to modify the funding system of the health insurance companies was rejected by 73% of voters in 2003.

Switzerland has the most expensive health system in Europe. Switzerland’s expenditure on health care was 11.6% in 2005, in front of Germany and France but behind the United States.

Wednesday, November 26, 2008

Australian Prime Minister Kevin Rudd has told the House of Representatives that the federal budget may need to fall into “temporary deficit” if the global economic crisis impacts upon Australia further. The Prime Minister said it would draw upon its budget surplus to stimulate growth and jobs.

The Prime Minister said the Australian economy had changed significantly over the past few months and warned that there were hard times to come for many people. Mr Rudd said the situation will worsen before it gets any better.

Mr Rudd said that the government will go into temporary deficit and spend on infrastructure to stimulate growth if required and not to do so would be irresponsible.

“If Australian economic growth slows further because of a further deepening of the global crisis then it follows that Australian Government revenues will reduce further,” he said.

“Under those circumstances, it would be responsible to draw further from the surplus and if necessary to use a temporary deficit to begin investing in future infrastructure needs including hospitals, schools, TAFEs, universities, ports, roads, urban rail and high speed broadband.” He added, “Such action would support growth would support families and jobs and would be undertaken in the national interest.”

If the budget fell into deficit, it would be first time the federal budget has gone into deficit since 2001. Previously, the government has refused to concede the budget would go into deficit, contrary to predictions by economists.

The admission by the government follows claims on the weekend by the Prime Minister that he did not expect the budget would go into deficit “in the current circumstances.” Today Mr Rudd told parliament that the global economic crisis is accelerating.

“The world economy is deteriorating rapidly,” Mr Rudd told parliament.

“The impact of the global financial crisis … has grown from a trickle to a flood. It is now sweeping across the world from China to Chile, from Germany to Japan.”

The government slashed its budget surplus forecast earlier this month by AUD15 billion to $5.1 billion and revised down revenue for the next four years by a further $40 billion. Mr Rudd blamed part of the downgrade to falling commodity prices.

Figures recently released by the OECD predict that Australia will manage to avoid a recession this year; economic growth is predicted to be 1.7%.

Opposition leader Malcolm Turnbull used the Prime Minister’s announcement to attack the Rudd government’s economic credentials. He said any deficit would be regarded by voters to be a failure in economic management.

Mr Turnbull asserted that it is unlikely that any deficit would be temporary. “Experience and history tell us that Labor deficits are never temporary,” he told parliament. “The last Labor deficit lasted for six years. It only came to an end with the election of a coalition government.”

Mr Turnbull said the government had remained focused on inflation for longer than they should have.

“It was the only government in the developed world that was ignoring the global financial crisis…and was declaring its own war on inflation, when much darker storm clouds were on the horizon.”

The Liberal leader took aim at comments made by Finance Minister Lindsay Tanner and Prime Minister Rudd on the weekend that said the budget would not be allowed to fall into deficit.

“Forty-eight hours [later] and that has been completely abandoned,” said Turnbull.

Tuesday, September 13, 2005

US-based Oracle Corporation announced earlier today that they are buying rival US-based Siebel Systems for $10.66 USD per share. Siebel shareholders have the option to receive the $10.66 per share in cash or in Oracle stock. This deal is valued at approximately $5.85 billion USD. Siebel Systems’ Board of Directors has already voted in favour of the acquisition. Founder Thomas Siebel has also given his support. A special meeting will soon be held for Siebel stockholders to vote on the acquisition. If all goes well the deal should close in the early part of next year.

After acquiring Siebel; Oracle, which specializes in database applications, will become the second largest software company. Oracle has offices in more than 145 countries, and employs over 50,000 people. This acquisition will make Oracle the largest customer relationship management (CRM) applications company in the world. CRM applications include accounting, inventory management and customer management software. “Siebel’s 4,000 applications customers and 3,400,000 CRM users strengthen our number one position in applications in North America and move us closer to the number one position in applications globally”, said Oracle CEO Larry Ellison.

“Today is a great day for Siebel Systems’ customers, partners, shareholders, and employees,” said Thomas M. Siebel, Chairman and Founder of Siebel Systems. Many analysts predicted the acquisition of Siebel after Oracle bought competitor PeopleSoft for $10 billion USD, last December.