Monday, September 4, 2006

The collision of a freight train with a passenger train just north of Cairo in the town of Shebin al-Qanater. The accident claimed 5 lives and injured another 30. It is reported that one of the dead was the engineer of the freight train.

In August the director of rail service in Egypt was fired after a similar accident killed 58 people in the town of Qalyoub. A public inquiry into that accident is underway amid growing criticism of the government for lax rail safety and transport regulation.

Mohammed Mansour, Egypt’s new director of transport has agreed that the transportation system is in need of extensive overhauls. The government has approved $860 million to develop the rail infrastructure, plus another $600 million in loans to private rail operators.

Thursday, October 5, 2006

Former Sarasota dermatologist Michael Rosin is heading to prison to serve a 22-year prison sentence for defrauding Medicare by performing unnecessary surgeries on elderly Sarasota, Florida patients.

On Rosin’s 56th birthday, in front of his family, Judge William Castagna sentinced him to 22 years in federal prison. The judge also ordered Rosin to pay $3.7 Million to the government, $3.6 Million to the medicare trust fund and $48,866 to patients.

More than 865 elderly Sarasota area residents had multiple surgeries performed by Rosin when biopsies showed of no signs of cancer, or could not be read. Rosin was convicted of diagnosing cancer on almost everyone who entered his office. Biopsy slides were found to have bubble gum or foam on it instead of skin samples.

Former patients of Rosin testified at the trial that his surgeries left them disfigured. The $46,866 awarded to the patients will help to repay them for the costs associated with the unnecessary surgeries.

Throughout the trial Rosin maintained that he was innocent. He blamed his office staff for the unreadible slides and the slides with the gum and foam on them. Rosin said his biggest mistake was giving his office staff too much access to the lab.

Rosin’s attorney said that the doctor will appeal his convection. Rosin tried many different defenses including that he was not competent to assist in his own defense.

A compilation of brief news reports for Sunday, December 7, 2008.

Officials say that progress is being made in a deal to bail out three United States carmakers. The U.S. government will be holding weekend talks on the plan after two days of Congressional hearings.

Dana Perino, the White House press secretary, stated that discussions with both parties had been “constructive”.

Executives from the three companies – General Motors, Ford, and Chrysler – have pleaded before two Congressional committees, asking for $34 billion in order to stop collapse.

“I’m convinced that by Sunday we will have an agreement that people can understand on this bill,” said Barney Frank, a representative from the state of Massachusetts.

Sources

• “‘Progress’ in US auto bail-out” — BBC News, December 6, 2008
• “Bailout Progress: Accord by Sunday?” — ABC News, December 6, 2008

The people of Ghana, a country often shown of as an example of a good democracy in Africa, will vote for a new president and parliament.

The current president, John Kufuor, will resign after serving the maximum of two terms in office. The elections are expected to be close.

The three main contenders for the presidency are: the Nana Akufo Addo from New Patriotic Party, who was the foreign minister under the current president, John Atta Mills running for the National Democratic Congress, and the Convention People’s Party’s candidate, one Paa Kwesi Nduom.

Sources

• Douglas Mpuga. “Ghanaians Enthusiastic About Sunday Poll” — VOA News, December 6, 2008
• Will Ross. “Ghana to vote for new president” — BBC News Online, December 6, 2008

The Archbishop of York, Dr John Sentamu, said that Zimbabwe’s president Robert Mugabe must be forced out of office and face trial for his crimes against humanity.

“The time has come for Robert Mugabe to answer for his crimes against humanity, against his countrymen and women and for justice to be done. The winds of change that once brought hope to Zimbabwe and its neighbours have become a hurricane of destruction, with the outbreak of cholera, destitution, starvation and systemic abuse of power by the state,” said Sentamu.

Sentamu that the power-sharing deal that was signed by Mugabe and the Zimbabwean opposition in September was “now dead”.

Dr Sentamu’s statement comes after a severe cholera outbreak spread in Zimbabwe, and saw 12,545 cases reported and 565 people dead.

Sources

• “Archbishop urges Mugabe overthrow” — BBC News Online, December 6, 2008
• “Mugabe must be toppled now – Archbishop of York” — guardian.co.uk, December 6, 2008

Republicans experienced another victory late Saturday, as the Associated Press called the race in Louisiana’s 2nd district at 22:35 CST in favor of Anh “Joseph” Cao, heralding the first Vietnamese-American member of Congress and sending the incumbent scandal-ridden Louisiana Congressman William Jefferson home after nine terms.

Sources

• “Beleaguered congressman trails in Louisiana vote” — CNN, December 6, 2008
• “APNewsShort” — Associated Press, December 6, 2008

Friday, April 3, 2009

General Motors (GM) and Chrysler will receive bridge loans from the government of Canada and the provincial government of Ontario, however no more will be forthcoming from either Canadian or US governments unless the companies can reinvent themselves.

“This is a regrettable but necessary step to protect the Canadian economy. We are doing this on the assumption that we obviously cannot afford either in the United States or Canada a catastrophic short-term collapse.” said Stephen Harper, Prime Minister of Canada.

“We cannot, we must not, and we will not let our auto industry simply vanish. This industry is, like no other, an emblem of the American spirit; a once and future symbol of America’s success,” said Barack Obama, President of the United States. “These companies – and this industry – must ultimately stand on their own, not as wards of the state.”

Chrysler will receive CA$1 billion and may in fact be eligible for as much as CA$4 billion. If Chrysler succeeds in the next 30 days with a restructuring plan it would be eligible for a US$6 billion loan. A part of Chrysler’s restructuring plan must include a partnership with Fiat within 30 days to appease the US administration. Fiat is a supplier of smaller fuel-efficient vehicles, and the merger will help Chrysler to be viable in the North American market. A Chrysler court bankruptcy would inevitably lead to it being sold off.

As a part of Chrysler’s restructuring plans, Tom LaSorda, the president of Chrysler announced that Canadian operations would fold if it does not receive both the US commitment of $2.3 billion of aid and a new Canadian Auto Workers CAW contract to reduce all-in costs by CA$19 per hour. As a result of this announcement Chrysler’s auto sales volume in Canada dropped 23% compared to March of 2008.

GM has until the end of May to restructure its company to receive up to CA$7.5 billion. As part of the companies restructuring, General Motor’s chief executive Rick Wagoner was replaced Sunday with Fritz Henderson, the current chief operating officer. Henderson spoke out on Tuesday that GM has submitted a restructuring plan which would close five plants, and this may be increased to meet the requirements for financial aid. He is in full compliance with Obama’s auto task force to seek bankruptcy if GM cannot negotiate with their unions, bondholders and others.

GM recently brought forward the “GM Total Confidence” program providing consumer purchase protection for customers who lose their job for economic reasons within the first two years from purchase. As a result of Chrysler’s restructuring announcement in Canada, GM’s Canadian vehicle sales volume fell only 17.3% compared to 2008, an increase from the previous month.

GM must reduce some of its legacy costs which include its pensions and union health care costs. A part of GM’s ailments arose from investing in supplying truck and SUVs during an economy of high gas prices when consumers were demanding fuel efficient vehicles.

Tony Clement, Canada’s Minister of Industry, is hoping that the CAW will support the restructuring process and re-negotiate their agreement. Whereas a United Auto Workers negotiator has said, “I don’t see how the UAW will do anything until they see what the bondholders will give up.”

The Obama administration is looking toward bankruptcy proceedings for the automakers, “as a mechanism to help them restructure quickly and emerge stronger. [It will] quickly clear away old debts that are weighing them down. What we are asking is difficult. It will require hard choices by companies. It will require unions and workers who have already made painful concessions to make even more. It will require creditors to recognise that they cannot hold out for the prospect of endless government bailouts.” said Obama.

The auto parts suppliers and IT software exporters in India have already been affected by the declining auto sales. GM and Chrysler software contracts provide US$300 to 350 million a year to vendors in India. As well these two major automakers usually award US$1 billion contracts to auto parts suppliers. “We are worried and closely watching the developments in the US to gauge the impact. The decline in auto sales in the US has already hit the order books of Indian suppliers,” said a Delhi auto parts supplier.

“Going forward, the industry will undoubtedly be smaller, but if our efforts are successful it will be viable and it will support good jobs for Canadians,” said Clements.

Betty Sutton, Ohio’s Congresswoman put forward the CARS act which provides a US$3,000 to 5,000 incentive for those who trade in their vehicle for a fuel-efficient car. “It clearly stimulates the economy, and it gets the consumer into the showroom and gets them buying again. But importantly — and this is what I particularly like about it — it really helps the environment quite a bit in two respects.” said William Clay Ford Jr., executive chairman of Ford Motor Co.

Ford Motor Company has not come forward with requests for assistance.

Since December GM and Chrysler have received US$17.4 billion government loans.