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Monday, June 21, 2010

Sweden’s first royal wedding since 1976 took place Saturday when Crown Princess Victoria, 32, married her long-time boyfriend and former personal trainer, Daniel Westling, 36. The ceremony took place at Stockholm Cathedral.

Over 1,200 guests, including many rulers, politicians, royals and other dignitaries from across the world, attended the wedding, which cost an estimated 20 million Swedish kronor. Victoria wore a wedding dress with five-metre long train designed by Pär Engsheden. She wore the same crown that her mother, Queen Silvia, wore on her wedding day 34 years previously, also on June 19. Victoria’s father, King Carl XVI Gustaf, walked Victoria down the aisle, which was deemed untraditional by many. In Sweden, the bride and groom usually walk down the aisle together, emphasising the country’s views on equality. Victoria met with Daniel half-way to the altar, where they exchanged brief kisses, and, to the sounds of the wedding march, made their way to the the silver altar. She was followed by ten bridesmaids. The couple both had tears in their eyes as they said their vows, and apart from fumbling when they exchanged rings, the ceremony went smoothly.

Following the ceremony, the couple headed a fast-paced procession through central Stockholm on a horse-drawn carriage, flanked by police and security. Up to 500,000 people are thought to have lined the streets. They then boarded the Vasaorden, the same royal barge Victoria’s parents used in their wedding, and traveled through Stockholm’s waters, accompanied by flyover of 18 fighter jets near the end of the procession. A wedding banquet followed in the in the Hall of State of the Royal Palace.

Controversy has surrounded the engagement and wedding between the Crown Princess and Westling, a “commoner”. Victoria met Westling as she was recovering from bulemia in 2002. He owned a chain of gymnasiums and was brought in to help bring Victoria back to full health. Westling was raised in a middle-class family in Ockelbo, in central Sweden. His father managed a social services centre, and his mother worked in a post office. When the relationship was made public, Westling was mocked as an outsider and the king was reportedly horrified at the thought of his daughter marrying a “commoner”, even though he did so when he married Silvia. Last year, Westling underwent transplant surgery for a congenital kidney disorder. The Swedish public have been assured that he will be able to have children and that his illness will not be passed on to his offspring.

Westling underwent years of training to prepare for his new role in the royal family, including lessons in etiquette, elocution, and multi-lingual small talk; and a makeover that saw his hair being cropped short, and his plain-looking glasses and clothes being replaced by designer-wear.

Upon marrying the Crown Princess, Westling took his wife’s ducal title and is granted the style “His Royal Highness”. He is now known as HRH Prince Daniel, Duke of Västergötland. He also has his own coat-of-arms and monogram. When Victoria assumes the throne and becomes Queen, Daniel will not become King, but assume a supportive role, similar to that of Prince Phillip, the husband of the United Kingdom’s Queen Elizabeth II.

Thursday, February 22, 2007

New Zealand’s monopoly ISP, Xtra, owned by Telecom New Zealand, is going to credit 60,000 customers after completing an internal review of itself last week and finding that there was an error with its traffic management policy on their Go Large plan.

The 60,000 customers, less than 10% of Telecom’s subscribers, who subscribed to Go Large, which boasts full speeds and no data cap, since December 8, 2006 till late February, 2007 will receive up to NZ$160 in credit. Telecom has temporarily stopped either new or existing customers from signing up to the new plan, and will also ask existing customers in the next couple of weeks if they wish to change plans, stay on the same plan with a changed traffic management policy, or cancel their service.

The credit, automatically applied to the affected customers monthly bill, will cost Telecom itself around $7.5-$8.5 million.

Kevin Bowler, general manager of Telecom’s consumer marketing, said that the traffic management policy process was found to be not what they had originally intended it to do. The fault applied to all forms of Internet use, instead of certain applications, like large music, or movie downloading. “Clearly it is not an ideal situation and therefore we are crediting Go Large customers for plan charges incurred during this period.”

“In this instance with the Go Large plan our internal technical review showed we had made an error and we believe that we are doing the right thing by crediting customers,” Mr Bowler said.

New Zealand’s Commerce Commission has been investigating complaints by customers who say that they are not receiving what Xtra promised since the same time when Xtra initiated its traffic management policy, December. Deborah Battell, fair trading director, said that the Commerce Commission is pleased Telecom is crediting customers for its error. “However, the Commission is concerned that Telecom’s actions may not address the full extent of the problems. The Commission will continue its investigation into whether the promotion breached the Fair Trading Act. In particular, the Commission is considering whether Telecom’s initial representation that Go Large gave customers unlimited access was misleading, as the company’s reasonable use policy in effect placed limits on use.”

The reasonable use policy meant subscribers could not download BitTorrents, or use other peer-to-peer services without giving priority Internet access to other subscribers.

Ernie Newman, chief executive of the Telecommunications User Association of New Zealand (TUANZ), said that it is good that Telecom is to repay its subscribers for their own error, but says that it will diminish their trust in Telecom, and other phone companies. “We applaud their openness. But sadly it is another episode in a chain of events where customers have signed up for broadband services that were advertised as offering attractive speeds or data limits, but in reality have delivered a whole lot less.”

“Something in Telecom needs to change. There have been too many disappointments, too much over-promising and under-delivering. This simply adds to the concern of many people that when it comes to the impact of broadband on customers lives and businesses, Telecom has not yet got the message,” Mr Newman said.

Thursday, June 4, 2009

In a New York press conference at 16:15 UTC, June 1st, Fritz Henderson, the Chief Executive Officer of General Motors, which filed for bankruptcy and Chapter 11 protection from its creditors earlier today, outlined a plan for what he called a “New GM”.

Speaking to the press under safe harbor provisions of U.S. law, Henderson described the events of today as a “defining moment” in the history of General Motors. Speaking to the public he said that “The GM that let you down is history,” and described a “New GM” that he expected to result from the bankruptcy process.

Henderson stated that he envisioned the bankruptcy process would take between 60 and 90 days. He stressed several times his view that the process would be one that is executed quickly, saying that not just a sense of urgency but “pure unadulterated speed” was his expectation of the process. He emphasized that “GM remains open for business” during the bankruptcy period, continuing to sell and to support its products, and that day one motions had been filed in the bankruptcy court in order to allow this.

Regarding the bankruptcy process he said, “We will do it right. And we will do it once.”

He stated that the plan for General Motors had the support of the United Auto Workers union, the Canadian Auto Workers union, the GM VEBA, and a majority of the unsecured bondholders of GM. He also mentioned that GM had already received €1.5 million in bridge financing from the German government.

In response to questions about the possibility of the United States federal government, a majority shareholder in the restructured company, dictating future product development and strategy, such as the sale of more fuel-efficient and green vehicles; he first observed that the federal government had already stated to him that it had “no real interest in running our business” and that he expected that still to be his job. Of the specific hypothetical scenario where the management of GM wants to make one type of car, because it thinks that it is the right thing for the business, and the U.S. government wants to make another type of car, he stated that “I don’t think it’s going to happen.” Expanding on that point he stated that he expected the “New GM” to focus upon “highly fuel-efficient and green technology”, and that operating both in accordance with U.S. environmental laws and in response to customer demand would naturally result in the New GM producing the types of vehicles that the U.S. government would encourage.

The “New GM” he also expected to focus on “four core brands”, and will size its dealership to match that. He stated that GM would offer a “deferred termination” package to dealers, to allow them to cease dealing in GM vehicles in a managed and gradual way.

He stated that the bankruptcy filings did not cover General Motors’ businesses in Latin America, Europe and the Middle East, and Asia and the Pacific. Of GM’s profitable ventures in China, specifically, he stated that they were “a critical part of the New GM”. In response to questions of whether the New GM would import cars from China to the U.S., he stated the formative company’s core principle that “We build where we sell” applied in both directions, with GM building in China to sell in China and building in the U.S. to sell in the U.S., stating that this shortened supply chains.

He declined to predict when the New GM would return to profitability, stating that the goal was rather to lower the break-even EBIT point for the company. He also declined to speculate upon when the U.S. government would sell its stake in the company, saying that that was a question “better addressed to the U.S. Treasury”, and merely saying that he expected it to be “years, not months” when the U.S. Treasury felt it would give “the right return for taxpayers.”

Sunday, August 20, 2006

Track Star Marion Jones, winner of 3 gold medals in the 2000 Sydney Olympics, has tested positive for the performance enhancing drug, EPO. The hormone helps create extra red blood cells which allows the user’s body to absorb extra oxygen.

Jones was expected to compete in yesterday’s Golden League meet in Zurich, Switzerland, but left early in the morning for “personal reasons.” It was announced earlier today (UTC) that she had tested positive for EPO. Jones faces a two year ban if her B test sample comes back positive.

Jones has a history of association with steroid users and dealers. In 1999, her then husband CJ Hunter tested positive for a similar drug, Nandralone. He had to withdraw from the 2000 Sydney Olympics, and received a two year ban.

Jones later divorced him, and in 2002 started a relationship with another track star, Tim Montgomery, who were both coached by Trevor Grahm.

Montgomery set a record in the 100 meter sprint of 9.78 seconds at a race in Paris that year. He was banned for two years and stripped of his record due to evidence in the Federal BALCO investigation. In the BALCO investigation, several witnesses stated that Marion Jones was taking banned substances received from BALCO.

Jones’ coach, Grahm, has been involved with 10 other athletes that tested positive and were ultimately banned for the use of illegal substances. Justin Gatlin, also coached by Grahm, also tested positive for artificial Testosterone, but has not been banned or stripped of his record.

Another American athlete, cyclist Floyd Landis tested positive for excessive levels of adrenaline after winning the Tour-de-France, which may lead to him being the first winner in the tournament’s history to be stripped of the title.

Wednesday, March 30, 2005British computer magazine PC Pro has investigated the electricity costs of running today’s computers.

Their investigations showed that an individual could save £250 a year while a medium-sized business could potentially save £5,000 a year by making changes to the way computers and their peripherals are operated.

A CRT monitor uses £150 of electricity over five years; enough to pay for a new low-power LCD monitor. Using a screen saver, rather than turning the monitor off or using many computers’ built-in feature to turn monitors off after a period of inactivity, could cost £100 alone in a year.

It was also discovered that turning a single laser printer off overnight and on weekends would save £70 over the life of the printer.

Many others computer users however run ‘distributed computing’ projects while their computers are idle, such as the ‘@home’ series of projects (including the well-known ‘SETI@home’).

Friday, July 1, 2005

Dr. Lester Friedlander, a former United States Department of Agriculture (USDA) vet, had been blowing the whistle on the USDA beef inspection practices before the latest case of bovine spongiform encephalopathy (BSE) was confirmed. Dr. Friedlander said that inspectors are allowed only 15 seconds of inspection and that unhygienic practices are common in the meat industry; practices such as cow carcasses with abscesses being hosed off, wrapped up and shipped to the consumer.

Friedlander also claims that some supervisors were more concerned about falsifying inspection documents than protecting consumers and that on June 9, 2005, a cow in Texas with BSE symptoms was sent straight to the rendering plant without testing.

There have also been allegations of a “don’t ask,don’t tell” approach being applied by US health officials when confronted with human deaths which may be caused by eating BSE contaminated meat.The Organic Consumers Association reported last year that hundreds of people are dying in the US each year from Creutzfeldt-Jakob Disease (CJD or vCJD) (the human counterpart of BSE) and the deaths are being written off as “unexplainable”. The disease causes holes in the brains of the victims.

A New Jersey lawyer, Janet Skarbek is being called “the next Erin Brockovich” for her research into the “Cherry Hill cluster” of 12 deaths she said were caused by people eating BSE infected meat; “I’m up to 12 confirmed cases of CJD, where it says CJD on their death certificates and where they all ate at the same racetrack,” Skarbek said.

New Jersey state officials have said that the 12 deaths did not result from the human form of mad cow disease, but rather from sporadic CJD; but Skarbek says the government’s numbers don’t add up. “If you just take five of the victims from New Jersey that ate at the track most recently, two were out of 100 administrative employees and three were out of 1,000 season-pass holders. So out of that population of 1,100 people, we should see one case of CJD every 909 years.”

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Friday, March 20, 2009

Following the Pilkhana massacre which occurred February 25 and 26 leaving 74 dead and the inferno at the Bashundhara City shopping mall complex March 13 leaving seven dead, Prime Minister Sheikh Hasina said security measures are being tightened countrywide across Bangladesh.

Fire drills will be enacted at all key-point installations (KPI). Fire fighting systems will be examined by the fire brigade and the public works department (PWD) to ensure functionality. Security measures will be enhanced supplementing areas under private security such as at the Bashundhara City Complex.

The Fire Service and Civil Defence Department requires modernization and needs new equipment to fight fires past the sixth floor of buildings. The Fire Brigade says it needs turntable ladders, snorkels, foam-tenders, lighting units, emergency tenders, fireproof uniforms, and rescue ropes for fire fighting and rescue operations. Transportation to fires is also an issue due to narrow roads, low electrical wires and congestion.

The Bangladesh National Building Code requires fire fighting equipment installed in buildings over seven floors. This code is to be monitored by authorities to ensure compliance with the new guidelines and to make sure buildings are being maintained.

The Bashundhara City Complex opened Monday for shoppers two days after Friday’s blaze. A probe is underway to determine the cause of the fire and to assess structural damage.

Loss of life was minimized as the blaze broke out on a Friday, the beginning of the weekend in Bangladesh, so offices in the upper floors were empty. The lower eight floors are used for shopping and the upper floors are all Bashundhara Group offices.

The mall is valued at Tk 7.0 billion (US$100 million). It is not known if the complex is covered by fire insurance.

It is estimated that it will take over two years to rebuild the area damaged by flames which were burned down to a skeleton. Bashundhara City’s technical advisor, Latifur Rahman, estimated damages at Tk 2.0 billion (US$29m).

Only one television cameraman has been allowed in to film the burnt area. None of the 2,500 shops, cinemas or cafes were burnt by the inferno. The seventh and eighth floors still experience smoke damage, and there was water damage to merchandise.

A three member committee is currently investigating the cause of the fire which will consist of Iqbal Khan Chowdhury, joint secretary of the ministry, representatives of the police, IGP Noor Muhammad, and fire brigade, Director General Abu Nayeem Md Shahidullah. The committee is required to report within the week with their findings. The forensics department is also sifting through the burnt remains.

The Dhaka Chamber of Commerce and Industries has also formed a committee which has begun interviewing witnesses and recording their testimony alongside the government committee.

It has been discovered that 150 closed circuit cameras were not being used when the fire started. Another mystery is why the mall fire fighting system has been found unused.

“In the shopping mall there is an ultra-technology elevator which runs even without electricity but we have found that locked,” Iqbal Khan Chowdhury, joint secretary (Police) of the home ministry, said. “Why the fire burnt so fiercely is a matter to think. We have to see if there was any incendiary substance there. These matters seem to be mysterious.”

Mall management has been asked to submit substances and items which would have been in the upper floors when the fire started. The fire erupted on the 17th floor and spread quickly to the two floors above and engulfed the three floors below. The aerial ladders belonging to the Fire Service and Civil Defence reached as high as the 13th floor of the 21-storey building.

Videos have been sent to the United States (US) for examination to assist in determining the cause of the fire and to help in the damage assessment. Experts from the US are expected to arrive soon.

Firefighters were brought to the rooftop of the 20-storey tower by helicopter. The only fatality in this operation was Baki Billa, a firefighter of Bashundhara City firefighting department, who fell when climbing down a rope from a helicopter to the roof of the building. Three other firefighters made the transition safely. At this same time, the chief security officer was safely rescued by the Bangladesh Air Force helicopter, a Bell 212. Six security officers of the complex also lost their lives.

Wednesday, February 7, 2018

At 3:45 p.m. Tuesday, Eastern Time (2045 UTC), the SpaceX Falcon Heavy rocket launched from Kennedy Space Center in Florida, United States. Its cargo: a US$100,000 Tesla sportscar, the personal property of SpaceX CEO Elon Musk, which he hopes will soon be in its own orbit around the Sun. This is the most powerful rocket since the Saturn V of Project Apollo was retired in 1970. The rocket is meant to follow a course called a Hohmann transfer orbit.

“It’ll be a really huge downer if it blows up,” Musk told the press the day before the launch, but went on to say, “If something goes wrong, hopefully it goes wrong far into the mission so we at least learn as much as possible along the way. I would consider it a win if it just clears the pad and doesn’t blow the pad to smithereens. That’s four million pounds of TNT equivalent so there’s probably not going to be much left if that thing lets loose on the pad.” The car was equipped with a fully space-suited dummy, cameras to monitor its trip into space, a copy of Douglas Adams’ Hitchhiker’s Guide to the Galaxy, and a radio blasting Space Oddity by David Bowie.

The Falcon Heavy has a total of 27 engines and stands 230 feet (70.1 m) tall. According to SpaceX, the Falcon Heavy uses three boosters, the same kind as the company’s smaller cargo rockets. After the rocket exited the Earth’s atmosphere, two of these boosters detached from the main body of the rocket and, in a first for space technology, were successfully guided back down to the landing pad about ten minutes after launch. The third was to have landed on a drone ship, but missed by around 100 yards (about 90 meters) and hit the ocean “at around 200 miles per hour,” according to Musk. The reusability of the boosters makes an enormous difference in the cost of the launch.

Even the relatively heavy-hauling U.S. Space Shuttle program, which was closed in 2013, did not rely on rockets as powerful as those used in Project Apollo, the program in which NASA, the U.S. Government space agency, sent manned missions to the Moon in the 1960’s and 70’s. Most recent space projects have focused on smaller, lighter machinery, such as Scaled Composites’ SpaceShipOne in 2004, which reached space after being carried part of the way by a carrier jet instead of launching from the ground. As of last week, the most powerful rocket in use was the Delta IV, operated by the United Space Alliance. It costs about US$435 million per launch, while SpaceX says the Falcon Heavy will cost US$90 million per launch.

NASA is also working on a heavy-duty rocket, the Space Launch System, but there have been delays.

Monday, January 31, 2005

Metlife announced on 01/31/05 that they were going to acquire Travelers Life and Annuity from Citigroup. Travelers Life and Annuity is an insurance underwriter. MetLife is a large life insurance and annuities underwriter. MetLife will have to borrow a lot of money to pay for the company, so rating agencies like S&P warn that the AA credit rating of MetLife might be lowered. This would cause the interest rates at which all of MetLife’s debt must be repaid to increase.

Citigroup committed to continue distributing Travelers life insurance and annuities through its Smith Barney stock brokers, Primerica agents, and Citibank branches.

Citigroup was previously known as Travelers Insurance before it bought Citicorp. First the Property and Casualty business of Travelers was spun off, and now the life insurance division has been sold off. This is primarily because insurance underwriters get a lower price to earnings multiple from the stock market because of the cycles and uncertainty associated with the insurance business. Also, having an insurance underwriter and a bank together does not usually create “cross-sell” opportunities, because consumers and businesses almost always buy life insurance and annuities through brokers who have a duty to give them other options. Citigroup will continue to sell insurance through its brokers as before.