US president Obama, Congress call for blocking of executive bonuses at AIG insurance company
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US president Obama, Congress call for blocking of executive bonuses at AIG insurance company

Wednesday, March 18, 2009

United States President Barack Obama stated Monday that insurance giant AIG is in financial trouble due to “recklessness and greed,” and called for legal action to stop the company from giving out millions of dollars in bonuses to its executives.

“It’s hard to understand how derivative traders at AIG warranted any bonuses, much less $165 million in extra pay,” Obama said. “How do they justify this outrage to the taxpayers who are keeping the company afloat.”

Obama’s statement comes after reports surfaced last weekend saying the insurance agency, which is in deep financial trouble, had paid US$165 million to executives in bonuses, after receiving $170 billion as part of a government bailout plan.

AIG has said that the bonuses have to be given out, as the company is legally required by contract to do so. A representative with the National Economic Council, Lawrence H. Summers, also said that the bonuses were required to be given out. If AIG had refused to give out the bonuses, employees could file a lawsuit against the company for the money.

“We cannot attract and retain the best and the brightest talent to lead and staff the A.I.G. businesses — which are now being operated principally on behalf of American taxpayers — if employees believe their compensation is subject to continued and arbitrary adjustment by the U.S. Treasury,” AIG CEO Edward M. Liddy said in a letter addressed to Treasury Secretary Timothy F. Geithner on Saturday.

Liddy said that he asked Geithner “to use that leverage and pursue every legal avenue to block these bonuses and make the American taxpayers whole.”

“I want everybody to be clear that Secretary Geithner’s been on the case,” Obama said. “He’s working to resolve this matter with the new CEO, Edward Liddy, who, by the way, everybody needs to understand, came on board after the contracts that led to these bonuses were agreed to last year.”

If the bonuses cannot be stopped, the U.S. Congress says they want AIG to reimburse the government. Congress is looking to impose stiff new taxes on the pay, or ordering the company to return the money which was originally granted from a government bailout. In a letter to House Speaker Nancy Pelosi on Tuesday, senator Richard Shelby promised that the treasury will recover all of the money. Several U.S. senators along with Liddy have sent letters to AIG asking for the bonuses to be renegotiated, something AIG agreed to and says they will reduce future bonuses by 30%. Senators state that if Libby does not respond by renegotiating the bonuses, the Senate Finance Committee will propose an excise tax. Not only will an excise tax be proposed on AIG, but all companies receiving bailout money and their employees who receive bonuses.

What is the highest excise tax we can impose that will stand up in court? Let’s find out.

Numerous House Democrats have introduced legislation which would place a 100% tax on any bonuses of over $100,000 from companies that are receiving government bailout funds. Meanwhile in the Senate, a bipartisan proposal by Max Baucus (D-Montana) and Charles Grassley (R-Iowa) would levy a special 90% excise tax on AIG’s bonuses. Asked Senator Baucus, who chairs the Senate Finance Committee: “What is the highest excise tax we can impose that will stand up in court? Let’s find out.”

Industrial Hose Reels

Submitted by: Camille Howe

Industrial hose reels are one of the most vital material handling tools you can invest in. Many organizations use heavy machinery that requires pressurized water, oil, or air to operate. Some of these devices also require exceptionally high voltage that can be delivered only through very large diameter, heavily insulated power cords. Because these hoses are very heavy and cumbersome to carry by hand, it is neither safe nor ergonomic to try to move them around manually without an industrial hose reel. It only takes 25 lbs of force applied at the wrong angle to damage a worker s back, and in addition to the potential liability, dragging hoses around the floor or across a construction site will eventually wear on the hose and damage it.

An industrial hose reel will eliminate the risk of injury and damage to heavy industrial cords and pressure hoses with large diameters. Commercial hose reels come in different sizes based upon the size and nature of the hose or cord they are being used for. They are further divided into four categories based upon the type of retrieval they are used for. Because it takes one hand to guide the hose onto a commercial reel, category selection should be based upon workload, ergonomics, and type of industrial environment the hose reel is used in.

1. Hand crank hose Reels

When a worker has both hands free, one hand can crank the hose onto the reel, and the other can guide it. These reels are designed for long, large capacity industrial hoses with up to 4,000 PSI.

2. Motor Driven Hose Reels

These industrial reels are used for hoses ranging from 200PSI to 10,000 PSI and are recommended for environments where the worker has only one hand free to guide the hose onto the spool.

[youtube]http://www.youtube.com/watch?v=RUh4I8Ehopg[/youtube]

3. Spring Driven Reels

Spring driven models do not require an external power source to operate. Easy Rack carries spring driven industrial reels for air hoses, oil hoses, grease hoses, hydraulic hoses, vacuum hoses, and oxy acetylene hoses. We also have spring driven cable reel for welding equipment in both stainless steel and aluminum models.

4. EZ Coil Commercial Reels

These are a special kind of spring driven industrial hose reel engineered to retract hoses at only 20% the speed of other spring driven models. They are designed for combustible environments it is unsafe to operate a motor or electrically driven hose reel for risk that a spark may cause an explosion.

5. Electric Cord and Cable Reels

These commercial reels are designed specifically for retractable Extension Cord Reels, Hand Crank Welding Reels, and Static Discharge Grounding.

Because there are so many models available in each industrial hose reel series, it is important to narrow your selection and buy a unit that is the closest match to your requirements. The following 5 principles are recommended when making your selection. We also recommend that you follow the following guidelines when selecting an industrial hose reel(s) for your facility.

1. Select your reel based on hose I.D., O.D., and Length

2. Compare the size of your hose to the inlet and outlet sizes on the reel.

3. Determine the safest and most ergonomic method of retraction.

4. Determine where you need to mount the hose.

5. Select the type of hose you will be using.

6. Customize your commercial hose reel.

Even after selecting a near perfect match to your industrial requirements, it may be possible to customize the hose reel further to meet the exact specifications of your process flow. Contact a material handling specialist at Easy Rack to see what customization options are available, or to make certain you have decided on the safest, most ergonomic, and most efficient hose reel possible.

About the Author: Easyrack.org. For more information on

Industrial Hose Reels

visit our the section on our website devoted to

Hose Reels.

Source:

isnare.com

Permanent Link:

isnare.com/?aid=284733&ca=Business

Cook Islands rugby league player Adam Watene dies after training session age 31
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Cook Islands rugby league player Adam Watene dies after training session age 31

Monday, October 13, 2008

Cook Islands and Wakefield Trinity Wildcats rugby league player Adam Watene has died. The Wildcats announced the death of the 31-year-old earlier today. They reported he collapsed in the gym shortly after a training session.

A spokesman said, “The Wakefield Trinity Wildcats are sad to announce the sudden passing of Adam Watene. The circumstances surrounding Adam’s death were sudden and unexpected. Everyone at the Wildcats’ thoughts are with Adam’s family, and we ask for their privacy to be respected at this difficult time.”

Watene started his rugby league with the Castleford Tigers and was later signed by the Bradford Bulls. After a year of playing for the bulls of which he only made five first team appearances, he was allowed to sign for the Wakefield Trinity Wildcats. He played a total of 28 games in the two seasons he was with the club.

The Wildcats also said “There will be no further comment from the club at this stage.” Watene is survived by his wife and two children.

BDSM as business: An interview with the owners of a dungeon
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BDSM as business: An interview with the owners of a dungeon

Sunday, October 21, 2007

Torture proliferates American headlines today: whether its use is defensible in certain contexts and the morality of the practice. Wikinews reporter David Shankbone was curious about torture in American popular culture. This is the first of a two part series examining the BDSM business. This interview focuses on the owners of a dungeon, what they charge, what the clients are like and how they handle their needs.

When Shankbone rings the bell of “HC & Co.” he has no idea what to expect. A BDSM (Bondage Discipline Sadism Masochism) dungeon is a legal enterprise in New York City, and there are more than a few businesses that cater to a clientèle that wants an enema, a spanking, to be dressed like a baby or to wear women’s clothing. Shankbone went to find out what these businesses are like, who runs them, who works at them, and who frequents them. He spent three hours one night in what is considered one of the more upscale establishments in Manhattan, Rebecca’s Hidden Chamber, where according to The Village Voice, “you can take your girlfriend or wife, and have them treated with respect—unless they hope to be treated with something other than respect!”

When Shankbone arrived on the sixth floor of a midtown office building, the elevator opened up to a hallway where a smiling Rebecca greeted him. She is a beautiful forty-ish Long Island mother of three who is dressed in smart black pants and a black turtleneck that reaches up to her blond-streaked hair pulled back in a bushy ponytail. “Are you David Shankbone? We’re so excited to meet you!” she says, and leads him down the hall to a living room area with a sofa, a television playing an action-thriller, an open supply cabinet stocked with enema kits, and her husband Bill sitting at the computer trying to find where the re-release of Blade Runner is playing at the local theater. “I don’t like that movie,” says Rebecca.

Perhaps the most poignant moment came at the end of the night when Shankbone was waiting to be escorted out (to avoid running into a client). Rebecca came into the room and sat on the sofa. “You know, a lot of people out there would like to see me burn for what I do,” she says. Rebecca is a woman who has faced challenges in her life, and dealt with them the best she could given her circumstances. She sees herself as providing a service to people who have needs, no matter how debauched the outside world deems them. They sat talking mutual challenges they have faced and politics (she’s supporting Hillary); Rebecca reflected upon the irony that many of the people who supported the torture at Abu Ghraib would want her closed down. It was in this conversation that Shankbone saw that humanity can be found anywhere, including in places that appear on the surface to cater to the inhumanity some people in our society feel towards themselves, or others.

“The best way to describe it,” says Bill, “is if you had a kink, and you had a wife and you had two kids, and every time you had sex with your wife it just didn’t hit the nail on the head. What would you do about it? How would you handle it? You might go through life feeling unfulfilled. Or you might say, ‘No, my kink is I really need to dress in women’s clothing.’ We’re that outlet. We’re not the evil devil out here, plucking people off the street, keeping them chained up for days on end.”

Below is David Shankbone’s interview with Bill & Rebecca, owners of Rebecca’s Hidden Chamber, a BDSM dungeon.

Contents

  • 1 Meet Bill & Rebecca, owners of a BDSM dungeon
    • 1.1 Their home life
  • 2 Operating the business
    • 2.1 The costs
    • 2.2 Hiring employees
    • 2.3 The prices
  • 3 The clients
    • 3.1 What happens when a client walks through the door
    • 3.2 Motivations of the clients
    • 3.3 Typical requests
    • 3.4 What is not typical
  • 4 The environment
    • 4.1 Is an S&M dungeon dangerous?
    • 4.2 On S&M burnout
  • 5 Criticism of BDSM
  • 6 Related news
  • 7 External links
  • 8 Sources

US unemployment rate reaches 9.8%
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US unemployment rate reaches 9.8%

Friday, October 2, 2009

Companies in the United States are shedding more jobs, pushing the country’s unemployment rate to a 26-year high of 9.8%.

The US Labor Department said on Friday that employers cut 263,000 jobs in September, with companies in the service industries — including banks, restaurants and retailers — hit especially hard. This is the 21st consecutive month of job losses in the country.

The United States has now lost 7.2 million jobs since the recession officially began in December 2007. The new data has sparked fears that unemployment could threaten an economic recovery. Top US officials have warned that any recovery would be slow and uneven, and some have predicted the unemployment rate will top 10% before the situation improves.

“Continued household deleveraging and rising unemployment may weigh more on consumption than forecast, and accelerating corporate and commercial property defaults could slow the improvement in financial conditions,” read a report by the International Monetary Fund’s World Economic Outlook, predicting that unemployment will average 10.1% by next year and not go back down to five percent until 2014.

Mark Zandi, chief economist at Moody’s Economy.com, said that “it’s a very fragile and tentative recovery. Policy makers need to do more.”

“The number came in weaker than expected. We saw a lot of artificial involvement by the government to prop up the markets, and now that that is starting to end, the private sector isn’t yet showing signs of life,” said Kevin Caron, a market strategist for Stifel, Nicolaus & Co.

Also on Thursday, the US Commerce Department said factory orders fell for the first time in five months, dropping eight-tenths of a percent in August. Orders for durable goods — items intended to last several years (including everything from appliances to airliners) — fell 2.6%, the largest drop since January of this year.

The US government has been spending billions of dollars — part of a $787 billion stimulus package — to help spark economic growth. There have been some signs the economy is improving.

The Commerce Department said on Thursday that spending on home construction jumped in August for its biggest increase in 16 years. A real estate trade group, the National Association of Realtors, said pending sales of previously owned homes rose more than 12 percent in August, compared to August 2008.

A separate Commerce Department report said that consumer spending, which accounts for more than two-thirds of US economic activity, rose at its fastest pace in nearly eight years, jumping 1.3 percent in August.

Other reports have provided cause for concern. A banking industry trade group said Thursday the number of US consumers making late payments, or failing to make payments, on loans and credit cards is on the rise. A survey by a business group, the Institute for Supply Management, Thursday showed US manufacturing grew in September, but at a slower pace than in August when manufacturing increased for the first time in a year and a half.

Stock markets reacted negatively to the reports. The Dow Jones Industrial Average fell 41 points in early trading, reaching a level of 9467. This follows a drop of 203 points on Thursday, its largest loss in a single day since July. The London FTSE index fell 55 points, or 1.1%, to reach 4993 points by 15.00 local time.

Category:June 7, 2006
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Stingray kills head diver of Underwater World Singapore
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Stingray kills head diver of Underwater World Singapore

Friday, October 7, 2016

Following an accidental death at the closed Underwater World Singapore (UWS) aquarium in Sentosa on Tuesday, operations to relocate the facility’s animals have been suspended.

Phillip Chan, 62, the head diver of the defunct facility, was moving stingrays in preparation for transfer to another aquarium when one of them stung him in the chest. Singapore newspaper The New Paper reported no prior such stingray incident was known to have occurred in Singapore. Australian conservationist Steve Irwin died in a similar manner in 2006.

Following a call to the Singapore Civil Defense Force at 2:20 pm, Chan was found near the entrance of UWS, where attempts were made to resuscitate him via CPR. He was taken to Singapore General Hospital, where he died from his injuries. While Chan’s colleagues declined to comment to The New Paper, a staff member at Shangri-La’s Rasa Sentosa Resort & Spa, who witnessed Chan being taken away by ambulance, stated, “It all happened very quickly. The ambulance came and quickly left the premises. I’ve never seen such an incident happening here before.”

UWS operator Haw Par Corporation described Chan as a “veteran diver, aquarist and animal caregiver who had been caring for the aquatic animals at UWS since its opening in 1991”. Ten staff, including Chan, remained at UWS after its closure on June 27 to facilitate care for its animals until they could be suitably relocated. In addition to assisting the Ministry of Manpower’s (MOM) Occupational Safety and Health Inspectorate with their investigations, Haw Par has pledged Chan’s family “all possible support and assistance”. Due to Chan’s death, MOM has ordered the cessation of animal transfers from UWS while investigations are pending.

In an interview with The New Paper, Dr. Tan Heok Hui, an ichthyologist and Lee Kong Chian Natural History Museum operations officer, stated, “Stingrays attack when they feel threatened, cornered or alarmed. Sometimes, a stingray might feel threatened when someone accidentally steps on it. Stingrays have backward pointing barbs on the spine that have serrated edges. They don’t just cause physical pain, the toxins in the spine can also cause extreme discomfort. When a spine pierces human flesh, it breaks and releases toxins into the flesh.”

Stingray venom contains serotonin, a neurotransmitter that can induce severe muscle contractions. According to Dr Tan, “If a victim is hit in vital organs like the chest area, it may trigger a cardiac arrest, which could subsequently be fatal”. “Stingrays are not usually aggressive, and choose defensive methods to protect themselves. However, stingrays are still wild animals, and when provoked and left with no choice, they will defend themselves using their sting.”

In an interview with The New Paper at the time of UWS’ closure in June, Chan said of the animals he worked with, whom he described as his “band of friends”, “They are so quietly tame. […] We intend to find them the best homes and environment. The next time I see them, I might not recognise them any more but if I dive, they might recognise me.”

Chan’s work at UWS entailed diving into the tanks and feeding the animals whilst visitors took photos. In an interview at the time with The Straits Times, Chan stated, “I treat [the animals] like my babies.” Chan also related anecdotes where he was bitten by sharks who mistook him for fish, releasing him when they recognised their mistake, describing the animals as “gentle”. “Whenever I get in danger,” said Chan, “I just keep calm. I can overcome any danger by just being calm”.

MOM stated of Chan’s death, “The Ministry of Manpower was informed about an incident that took place at Underwater World Singapore Pte Ltd’s premises at Siloso Road on 4 October 2016. Officers from MOM’s Occupational Safety and Health Inspectorate responded to the scene immediately and commenced investigations. Preliminary findings indicate that a worker was pierced in his chest by the barb of a stingray while he was in the midst of transferring the stingray from its tank. He was conveyed to hospital where he subsequently succumbed to this injuries.[sic] MOM has instructed the occupier to stop all activities associated with the transferring of sea animals. Investigations are ongoing.”

Glasgow cannabis enthusiasts celebrate ‘green’ on city green
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Glasgow cannabis enthusiasts celebrate ‘green’ on city green

Tuesday, April 22, 2014

Coinciding with Easter Sunday, Glasgow Cannabis Social Club’s annual 420 event was held on Glasgow Green, under sunny blue skies, and overlooking the river Clyde. Despite the city’s council attempting to revoke permission for the gathering at the last minute, police were happy for it to go-ahead with approximately a dozen officers attending in high-visibility vests.

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The Daily Record reported five arrests were made for minor offences, likely smoking and possession of small quantities of cannabis. Taking a less-sensational — and more accurate — line of reporting, the Monday edition of Glasgow’s Evening News stated five were referred to the Procurator Fiscal who is responsible for deciding if charges should be brought.

Official figures provided by the police were that 150 attended. With people coming and going, Wikinews reporters estimated upwards of 200 attended, compared to nearly 700 who had signed up for the event on Facebook. Hemp goods were advertised and on sale at the event, and some attendees were seen drinking cannabis-themed energy drinks.

“I was searched and charged under the Misuse of Drugs Act (which is a lot of bollocks)” one attendee noted online, adding “not fair to happen on a brilliant day like it was, other than that I had a great day!” A second said they were openly smoking and ignored by police, who “were only really focusing on people who looked particularly young”.

Cannabis seeds were openly and legally sold at the event and a hydroponics supplier brought a motortrike towing an advertising trailer. Actually growing cannabis is, however, illegal in the UK.

With the event openly advocating the legalisation of cannabis, speakers put their arguments for this to a receptive crowd. Retired police officer James Duffy, of Law Enforcement Against Prohibition, spoke of the failed United States alcohol prohibition policy; stressing such policies needlessly bring people into contact with criminal elements. Highlighting other countries where legalisation has been implemented, he pointed out such led to lower crime, and lower drug use overall.

One speaker, who produced a bottle of cannabis oil he had received through the post, asserted this cured his prostate cancer. Others highlighted the current use of Sativex by the National Health Service, with a cost in-excess of £150 for a single bottle of GW Pharmaceuticals patented spray — as-compared to the oil shown to the crowd, with a manufacturing cost of approximately £10.

Similar ‘420’ pro-cannabis events were held globally.

Scientists grow beating rat heart in lab
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Scientists grow beating rat heart in lab

Monday, January 14, 2008

Scientists from the University of Minnesota have successfully created a beating heart in a lab. The team was led by Dr. Doris Taylor, director of the University’s Center for Cardiovascular Repair, used a process called “decellularization” in which the hearts were taken from newborn rats and stripped of their cells. The resulting non-living mass, called an extracellular matrix or ECM, contains no cells and therefore will not be rejected by its new owners. New muscle and endothelial cells are then injected into the ECM and stimulated electrically.

The first micro-contractions occurred within two days of the new cells being injected into the ECMs and visible contractions began to occur within seven to eight days. The rat hearts beat strongly enough to pump fluid out the aorta, although the force at which they beat was only equivalent to 2 percent of a normal adult rat or about 25 percent of a 16 week old human fetus.

The researchers will next be testing the process of pig hearts for which ECMs have already been created. A pig heart is roughly the size of a human heart. The eventual hope of the project is to be able to use the process on human hearts taken from cadavers or pig hearts with human cells injected, though it remains to be seen whether or not the process will work on a heart from a larger animal, such as a pig or human. The team also plans to experiment with the process on other organs such as kidneys, livers and lungs.

Twin bomb blasts in 2 Philippine malls kill 6, injure 38
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Twin bomb blasts in 2 Philippine malls kill 6, injure 38

Thursday, December 18, 2008

Twin blasts, allegedly caused by improvised explosive devices, rocked two upscale malls in the main financial district in Aguinaldo Street in Iligan City on Thursday. At least three people were killed and forty-seven were wounded when two improvised crude bombs exploded and damaged the Unicity Commercial Center at 1:35 p.m. and the nearby Jerry’s Shoppers Plaza 10 minutes later.

The mall blasts occurred a day before President Gloria Macapagal-Arroyo’s scheduled visit to the City, her maternal hometown. Lanao del Norte police Superintendent Dimacuta Sanggacala said he “corrected the earlier report that six people had been killed, saying that some of those whom they thought were dead were seriously hurt.” “Forty-five people were injured and being treated at the Sanitarium City Hospital and Dr. Uy City Hospital,” he added.

The City of Iligan (Cebuano: Dakbayan sa Iligan; Filipino: Lungsod ng Iligan) is a highly urbanized city North of the province of Lanao del Norte, Philippines, and the province’s former capital. It is approximately 795 kilometers southeast of Manila with a population of 308,046 people as of 2007.

The provincial police said that CCTV video footages from both malls show two men both wearing scarfs, had placed the explosives inside bags and left at the package or baggage counters of the malls. An L-300 van was also destroyed in the blasts. The local SOCO forces, the Explosive Ordnance Disposal team (bomb experts) and the bomb-sniffing K9 unit of the 403rd Brigade were immediately dispatched to search the site for more victims.

Col. Nicanor Dolojan, commander of the Army’s 403rd said that “our suspect here are the lawless MILF group because of the type of the (improvised explosive device) that were used. That IED manifest their signature, using mortar rounds. Terrorism, which is their real intention, to sow terror in the area.That is our initial findings.” Iligan City Mayor Lawrence Cruz said that his local government received several “threats to bomb establishments – department stores, churches, schools, public places, and markets.”

Continuous clashes began in August between government troops and the Moro Islamic Liberation Front, after the High Court annulled a Memorandum of Agreement on peace. Reuters reported that “five people were wounded in two blasts on December 4 in another part of Mindanao, which army officials blamed on rogue Muslim rebels fighting a long-running insurgency in the south.” “There have been at least three bomb attacks on bus terminals in the south since July as violence escalated after Manila and the Moro Islamic Liberation Front (MILF), the country’s largest Muslim rebel group, failed to sign a territory deal in August.” it added. In November, three people were also injured in the blasts of the Traveler’s Inn and the Caprice Lodge in Iligan City.

The Abu Sayyaf Group (lang-ar????? ??? ????; Jam??ah Ab? Sayy?f, ASG), also known as ‘al-Harakat al-Islamiyya’ is one of several militant Islamist separatist groups based in and around the southern islands of the Philippines, in Bangsamoro (Jolo, Basilan, and Mindanao) where for almost 30 years various Muslim groups have been engaged in an insurgency for a state, independent of the predominantly Catholic Philippines.

The Times of India reported that “the southern Philippines region of Mindanao is the hotbed of a decades-old Muslim separatist insurgency that has, in recent years, been suspected of harbouring Islamic militants with ties to the al-Qaida network of Osama bin Laden.”

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