Breaking news

Libya: ICC prosecutor seeks warrant for Gaddafi

2011-05-16T06:09:00.000-07:00

The International Criminal Court chief prosecutor is seeking the arrest of Libyan leader Col Muammar Gaddafi and two others for crimes against humanity.

Luis Moreno-Ocampo said Col Gaddafi, his son Saif al-Islam, and intelligence chief Abdullah al-Sanussi bore the greatest responsibility for "widespread and systematic attacks" on civilians.

ICC judges must still decide whether or not to issue warrants for their arrest.

The Libyan government has already said it will ignore the announcement.

Deputy Foreign Minister Khalid Kaim said the court was a "baby of the European Union designed for African politicians and leaders" and its practices were "questionable".

Libya did not recognise its jurisdiction, like most African countries and the United States, and would ignore any announcement, he added.

read more at source; http://www.bbc.co.uk/news/world-africa-13408931

Facebook kicks off 20,000 underage users a day

2011-03-25T01:35:00.000-07:00

Are kids slipping through the cracks in Facebook's just-ask age screening approach?

The social networking site kicks off around 20,000 underage users per day, its chief privacy adviser, Mozelle Thompson, told Australia's parliament this week.

He admitted that the site's way of weeding out those who don't meet the 13-and-up age requirement -- essentially a user-entry honor system -- is "not perfect," because there's no mechanism for detecting kids who simply enter a false age.

"There are people who lie. There are people who are under 13," Thompson said.

A recent Pew study found that nearly half of all U.S. 12-year-olds use social networking sites -- and privacy concerns in regard to Facebook's younger members have been growing of late. This month, Sen. Al Franken, a Minnesota Democrat, wrote to Facebook CEO Mark Zuckerberg (pictured) to argue for reforms in the site's privacy measures. "Under Facebook's policy, 13 million users under the age of 18 may be allowed to share their personal information just like adult users," Franken wrote. "These younger users are the most vulnerable to predators on Facebook and the rest of the Internet and it should be impossible for them to inadvertently share their phone numbers and home addresses with anyone."

But Franken's figures don't factor in the unknown number of Facebook users under 13.

Other sites that are popular with kids handle the issue in differing ways. MySpace also requires users to be at least 13, but like Facebook, it has no practical way to verify that information. Disney.com allows children 12 and under to surf the site, and collects some personal information from them before they're eligible to participate in competitions, for example. Yahoo! doesn't allow kids 12 and under to register without the consent of a parent. Like Disney, it collects some limited idenifying information for participation in competitions and similar interactive features.

source: http://news.yahoo.com/s/yblog_thelookout/20110323/bs_yblog_thelookout/facebook-kicks-off-20000-underage-users-a-day

PNoy confident Sumera killing will be solved

2011-03-25T01:31:00.000-07:00

source: http://www.gmanews.tv/story/216195/nation/pnoy-confident-sumera-killing-will-be-solved

President Benigno Simeon Aquino III expressed confidence on Friday that the killing of broadcaster Marlina ‘Len’ Flores-Sumera will be solved.

In an interview with Palace reporters, Aquino said that based on the report given to him by the National Capital Region Police Office (NCRPO), the suspect has already been identified and is now subject of a manhunt.

"Given that, given also the cooperation of witnesses, I am confident that we will able to bring this perpetrator to justice," he said after attending the biennial convention of the Federation of Filipino-Chinese Chambers of Commerce and Industry in Pasay City.

In a text message to reporters, Philippine National Police chief Director General Raul Bacalzo said Special Task Group Sumera has been activated by the Northern Police District to investigate the case.

Bacalzo said land dispute is a possible motive in the killing as Sumera was the overall president of the Silonian, SitioRrosal, Interior Tongco and the Saloma Neighborhood Association with an estimated land area of 4.2 hectares.

The land is considered a public estate under the National Housing Authority and is about to be developed for road widening, reblocking, chopping and drainage improvement.

It is being contested by the KASAMA association led by Emma Nuqui and Julieta Lazaro whose motion for temporary restraining order is pending before the Malabon regional trial court branch 74.

The parties’ last court appearance was on Monday morning, March 21.

For his part, Herminio Coloma, head of the Presidential Communications Operations Office (PCOO), said that based on PNP reports, the recent media killings are all considered "solved."

Coloma was referring to the cases of:

# Gerardo Ortega which is now in court, with five suspects in police custody and two masterminds have been identified;

# Jose Daguio which has also been filed in court, one suspect arrested while another suspect found dead; and

# Miguel Belen, also in court with one suspect now in police custody. — RSJ, GMA News
DISQUS...

http://news.yahoo.com/s/ap/us_tainted_eggs

2010-09-14T18:38:00.000-07:00

WASHINGTON – The Iowa egg farm at the center of a massive salmonella outbreak received hundreds of positive results for salmonella in the two years before its eggs sickened more than 1,500 people, congressional investigators said Tuesday.

In a letter to the company's owner, the House Energy and Commerce Committee said its investigators had obtained records showing Wright County Egg received 426 positive results for salmonella between 2008 and 2010. The company recalled 380 million eggs in August after its products were linked to hundreds of illnesses.

The committee said the positive results found over the last two years included 73 samples that were potentially positive for Salmonella Enteritidis, the strain responsible for the recent outbreak.

In the letter to Austin "Jack" DeCoster, the owner of Wright County Egg, committee chairman Henry Waxman, D-Calif., and investigations subcommittee chairman Bart Stupak, D-Mich., said they were concerned that DeCoster did not inform them of the positive results when the panel asked him to provide documents in August. One of the questions the panel asked DeCoster was to show dates and results of all positive findings after microbiological testing.

"When you testify before the committee, we ask that you come prepared to explain why your facilities tested potentially positive for Salmonella Enteritidis contamination on so many occasions, what steps you took to address the contamination identified in these test results, and whether you shared these results with FDA or other federal or state food safety officials," Waxman and Stupak wrote.

DeCoster is scheduled to testify before the panel next week. In a statement attributed to unidentified officials of Wright County Egg, the company said it has already provided some positive results to the committee and the Food and Drug Administration and will continue to do so.

"While we were terribly disappointed to find positive results for Salmonella Enteritidis in eggs, the results affirmed the appropriateness of our voluntary recall," the statement said.

According to the committee, the company received as many as 67 positive results this year alone before the FDA investigation in response to the August recall. That includes one positive result for Salmonella Enteritidis on July 26, less than three weeks before the company recalled the eggs. The recall eventually grew to more than a half-billion eggs and included another company, Hillandale Farms, that also has ties to DeCoster.

The letter does not say how the committee obtained the results or from whom. The testing appears to have been done by a veterinary diagnostic laboratory at Iowa State University, which is listed on reports of the results released by the committee. A spokesman for the laboratory was not immediately available for comment.

The reports also say the results were forwarded to the Agriculture Department's National Veterinary Services Laboratories to confirm the presence of salmonella, indicating some at the department may have known about the instance of salmonella at DeCoster's farm.

A spokeswoman for the Animal and Plant Health Inspection Service, which oversees the labs, said the agency does thousands of confirmatory tests for universities or states and sends them back to the labs.

"Most of the time we don't even know where the samples came from," said Lyndsay Cole. "Just the presence of salmonella doesn't predict where an outbreak would be."

DeCoster is no stranger to tangling with the government. He has paid millions of dollars in state and federal fines over the years for health, safety, immigration and environmental violations at his farms.

The specific cause of the outbreak is still unknown, and though there is evidence of salmonella at the farms it is still unclear whether it was ever in the company's eggs.

Reports released last month by the FDA show many different possible sources of contamination at both farms, including rodent, bug and wild bird infestation, uncontained manure, holes in walls and other problems that could have led to the outbreak. The FDA also found positive samples of Salmonella Enteritidis.

No deaths have been reported due to the outbreak, but the number of illnesses — which can be life-threatening, especially to those with weakened immune systems — could still increase.

The federal Centers for Disease Control and Prevention has said this is the largest outbreak of this strain of salmonella since the start of the agency's surveillance of outbreaks in the late 1970s. For every case reported, there may be 30 that are unreported, the CDC said.

Thoroughly cooking eggs can kill the bacteria, but health officials recommended that people throw away or return the recalled eggs.

___

Online:

Government's Food safety website: http://www.foodsafety.gov

House Energy and Commerce Committee: http://energycommerce.house.gov

(This version CORRECTS half-million eggs to half-billion eggs.)

WASHINGTON – The Iowa egg farm at the center of a massive salmonella outbreak received hundreds of positive results for salmonella in the two years before its eggs sickened more than 1,500 people, congressional investigators said Tuesday.

In a letter to the company's owner, the House Energy and Commerce Committee said its investigators had obtained records showing Wright County Egg received 426 positive results for salmonella between 2008 and 2010. The company recalled 380 million eggs in August after its products were linked to hundreds of illnesses.

The committee said the positive results found over the last two years included 73 samples that were potentially positive for Salmonella Enteritidis, the strain responsible for the recent outbreak.

In the letter to Austin "Jack" DeCoster, the owner of Wright County Egg, committee chairman Henry Waxman, D-Calif., and investigations subcommittee chairman Bart Stupak, D-Mich., said they were concerned that DeCoster did not inform them of the positive results when the panel asked him to provide documents in August. One of the questions the panel asked DeCoster was to show dates and results of all positive findings after microbiological testing.

"When you testify before the committee, we ask that you come prepared to explain why your facilities tested potentially positive for Salmonella Enteritidis contamination on so many occasions, what steps you took to address the contamination identified in these test results, and whether you shared these results with FDA or other federal or state food safety officials," Waxman and Stupak wrote.

DeCoster is scheduled to testify before the panel next week. In a statement attributed to unidentified officials of Wright County Egg, the company said it has already provided some positive results to the committee and the Food and Drug Administration and will continue to do so.

"While we were terribly disappointed to find positive results for Salmonella Enteritidis in eggs, the results affirmed the appropriateness of our voluntary recall," the statement said.

According to the committee, the company received as many as 67 positive results this year alone before the FDA investigation in response to the August recall. That includes one positive result for Salmonella Enteritidis on July 26, less than three weeks before the company recalled the eggs. The recall eventually grew to more than a half-billion eggs and included another company, Hillandale Farms, that also has ties to DeCoster.

The letter does not say how the committee obtained the results or from whom. The testing appears to have been done by a veterinary diagnostic laboratory at Iowa State University, which is listed on reports of the results released by the committee. A spokesman for the laboratory was not immediately available for comment.

The reports also say the results were forwarded to the Agriculture Department's National Veterinary Services Laboratories to confirm the presence of salmonella, indicating some at the department may have known about the instance of salmonella at DeCoster's farm.

A spokeswoman for the Animal and Plant Health Inspection Service, which oversees the labs, said the agency does thousands of confirmatory tests for universities or states and sends them back to the labs.

"Most of the time we don't even know where the samples came from," said Lyndsay Cole. "Just the presence of salmonella doesn't predict where an outbreak would be."

DeCoster is no stranger to tangling with the government. He has paid millions of dollars in state and federal fines over the years for health, safety, immigration and environmental violations at his farms.

The specific cause of the outbreak is still unknown, and though there is evidence of salmonella at the farms it is still unclear whether it was ever in the company's eggs.

Reports released last month by the FDA show many different possible sources of contamination at both farms, including rodent, bug and wild bird infestation, uncontained manure, holes in walls and other problems that could have led to the outbreak. The FDA also found positive samples of Salmonella Enteritidis.

No deaths have been reported due to the outbreak, but the number of illnesses — which can be life-threatening, especially to those with weakened immune systems — could still increase.

The federal Centers for Disease Control and Prevention has said this is the largest outbreak of this strain of salmonella since the start of the agency's surveillance of outbreaks in the late 1970s. For every case reported, there may be 30 that are unreported, the CDC said.

Thoroughly cooking eggs can kill the bacteria, but health officials recommended that people throw away or return the recalled eggs.

___

Online:

Government's Food safety website: http://www.foodsafety.gov

House Energy and Commerce Committee: http://energycommerce.house.gov

(This version CORRECTS half-million eggs to half-billion eggs.)

source: http://news.yahoo.com/s/ap/us_tainted_eggs

Strange Worms Discovered Eating Dead Whales

2010-03-29T19:53:00.000-07:00

Some truly strange creatures can be found on the ocean seafloor, and boneworms are among the most bizarre — they have no eyes or mouth and feast on the bones of dead whale carcasses.

Now scientists have identified even more species of this recently discovered worm, and their analysis reveals additional clues to when the creatures first evolved.

Boneworms, belonging to the genus Osedax, were first discovered back in 2002 off the coast of California in an underwater valley called the Monterey Canyon. Since then, the researchers that made the find have been uncovering details about the life cycle and eating habits of these worms.

Between 2004 and 2008, the team, from the Monterey Bay Aquarium Research Institute, sank five whale carcasses into the bay, providing a cornucopia for their research subjects.

They found that the worms begin life as microscopic larvae floating through the deep ocean. When the larvae encounter a dead animal, such as a whale or elephant seal, they settle onto its bones. The worms then sprout up, looking a bit like tiny trees. At one end are root-like structures that grow into the bone. The scientists suspect that bacteria in these roots break down proteins within the bone, which supply nutrients for the worms. At the other end are feathery appendages called "palps," which take in oxygen.

When these worms sexually mature, they all turn into females. But larvae that land on the female boneworm's palps develop into male worms, although they remain microscopic in size. The male worms fertilize the females' eggs, which are then released to start the cycle over.

Initially, the researchers identified five species of boneworms. In the new study, they found an additional 12 species from analyses of the worm's DNA.

Not all boneworms look alike. Their feathery palps can be red, pink, green or even striped. And some don't have feathers at all.

The researchers also attempted to calculate how long these worms have been around by estimating how fast their DNA mutates. With one particular estimate for the mutation rate, they hypothesized that the worms evolved 45 million years ago, which is around the time that large whales first appear in the fossil record. A second, slower estimate suggests that the worms may have evolved 130 million years ago, in which case they could have eaten the bones of ancient sea reptiles.

Further study of whale and marine reptile fossils for the remains of worm roots could help pin down the time period in which the worms evolved, the researchers suggest.

The study was published Nov. 10 in the journal BMC Biology.

source: http://www.livescience.com/animals/091117-boneworms-species.html

Emerging Bol-Anon

2010-02-20T03:44:00.000-08:00

Emerging Bol-Anon

Eat for Health and High Energy

2010-02-15T16:17:00.000-08:00

February 14, 2010

Eat for Health and High Energy
By Brian Tracy

The first rule for great health is that you should eat the right foods, and you should eat fewer of them. Your body is very much like a complex production process, and every bite you eat has a chemical effect on your health and well being. By eating excellent foods, and in the right proportions, you can dramatically increase the quality and length of your life.

The Keys to Greater Longevity
Fortunately, we know almost everything we need to know about the proper diet. The eating habits of the Hunza Tribe in Southern Russia, people live to be 110 to 120 years old. People who have been put on the Hunza diet in downtown London, England, have begun to almost immediately experience the same levels of health, energy and longevity as the Hunzas in the mountains of Russia.

Variety is Essential
The very best diet for high levels of fitness and long life consist of lean source proteins, fruits, vegetables and whole grain products, and lots of water. The diets they studied were extremely varied, and the sources of these foods came from many different areas, but they all contained very much the same ingredients.

Two Foods to Avoid
The two foodstuffs that seem to be associated with the most health problems are fats and carbohydrates. In moderation, they are a regular part of a normal diet. But in excess, they cause poor health, weight gain and obesity. Eating too many fats and carbohydrates decreases energy and causes a variety of physical ailments, including diabetes, heart attacks and strokes.

The Real Reason for Obesity
People who eat too many carbohydrates develop two common conditions. In men, they develop carbohydrate belly, of the huge stomach you see on men who eat too much of the wrong foods. On women, they develop carbohydrate thighs, or what some people call cellulite, which is another word for fat. In America today, fully 50 million people are officially characterized as obese. This means that they are 20% or more above their ideal bodily weight, according to height and weight charts. And the primary reason for obesity is too many fats and carbohydrates, and too few lean source proteins, fruits, vegetables and whole grain products.

The Three White Poisons
To be really healthy, and live a long happy life, you need to eliminate what I call the three white poisons as well. These three white poisons are salt, sugar and white flour products. Each of them is bad for you and none of them is necessary for optimal health.

You are Sweet Enough
Recent research says that sugar is the main culprit in weight gain and poor health. Sugar products make you fat, tire you out, rot your teeth, ruin your appetite for nutritious foods and shorten life. And the fact is that you actually require no sugar at all in your diet.

Eat to Live
The rule for long life is that you should eat to live rather than live to eat. The best health rule for health, fitness, and high levels of energy can be summarized in five words: "Eat less and exercise most."

Action Exercise
Write down everything you eat for a week, look at what you are eating and how much. You will probably be shocked to see everything you put in your body, and how a lot of the food is carbohydrates, sugar, and processed food.

Vancouver 2010 Host Videos

2010-02-12T08:29:00.000-08:00

Vancouver2010.com Olympic Host Videos give you a vivid taste of the 2010 Winter Games experience, providing medal results, arts and entertainment highlights and VANOC updates every day of the Games. Whether you’re watching from near or far, the Host Videos deliver the fun and excitement of Vancouver 2010.

source; http://www.vancouver2010.com/olympic-news/host-videos/

Cebu Dancing Inmates pay tribute to Michael Jackson

2009-07-07T18:32:00.000-07:00

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Cebu Dancing Inmates

Cebu dancing inmates to perform 'Thriller' tribute for Jackson

2009-06-26T05:27:00.000-07:00

MANILA, Philippines - On Saturday afternoon, more than 1,400 orange-clad Cebu inmates who gained worldwide attention for an impressive “Thriller" performance on YouTube will pay their last respects to the late King of Pop.

“Everyone’s sad," Byron Garcia, provincial security consultant of the Cebu Provincial Detention and Rehabilitation Center (CPDRC), told GMANews.TV in a phone interview.

“Malaki talaga si Michael Jackson sa programa namin. [Michael Jackson really played a big part in our program]," Garcia said.

Ever since the "dancing inmates" were reported by international news organizations, Garcia said inquisitive tourists have been drawn to the CPDRC. Visitors have even gained a more optimistic perspective of Philippine prisoners.he CPDRC inmates perform every last Saturday of the month to almost 600 visitors for free. On June 27, they will stage a repeat of the Thriller dance routine that made them famous as a tribute to Jackson, who died of a heart attack Thursday in Los Angeles.

The moonwalking pop star drove the growth of music videos, vaulting cable channel MTV into the mainstream after the network’s launch in 1981. His 1982 hit "Thriller" spawned a John Landis-directed music video that MTV played every hour.

Fast-forward 25 years later and Garcia, who noticed that the inmates were bored with the usual morning exercise, sought the help of choreographer Vince Rosales and adapted Jackson’s iconic moves into a four-minute routine.

GONE TOO SOON. Filipino inmate Dodong Niere (right) feels saddened by the news of Michael Jackson's death Friday (Manila time). Jackson was 50. with AP photo

Crisanto “Dodong" Niere, the Cebu inmate who impersonates Jackson in the routine, said he was saddened by his idol’s sudden death.

"He is sad his idol died," an official from the CPDRC who spoke with Dodong told GMANews.TV. [See: Cebu inmate impersonator sad over Jackson’s death]

The video has since generated more than 23 million views after it was posted in 2007 and has even been hailed by TIME Magazine as one of the best viral videos of that year.

Garcia said the inmates’ popularity might gain another momentum as shocked fans continue to look online for anything that would remind them of Jackson.
source

Michael Jackson was much more than the King of Pop

2009-06-26T01:14:00.000-07:00

NEW YORK — When Michael Jackson anointed himself "King of Pop" over two decades ago, there was considerable rumbling about his hubris: Yes, he may have become a world sensation with record-setting sales of "Thriller," and yes, he may have had a string of No. 1 hits with smashes like "Billie Jean" and "Beat It," but the KING OF ALL POP MUSIC?

Surely, in a modern music history that has given us Elvis Presley, the Beatles, Stevie Wonder and so many musical greats, that title was a more than a bit inflated.

But in actuality, Jackson understated his significance.

While his elaborate, stop-on-a-dime dance moves and sensual soprano may have influenced generations of musicians, Michael Jackson stood for much more than pop greatness — or tabloid weirdness. One of entertainment's greatest icons, he was a ridiculously gifted, equally troubled genius who kept us captivated — at his most dazzling, and at his most appalling.

At the height of his fame, he was among the world's most beloved figures. Heads of state clamored to meet him, screen legends like Elizabeth Taylor were his close friends, and worldwide, simply the mention of his name could make people do the moonwalk, from Los Angeles to Laos (The New York Times once accurately described him as one of the six most famous people on the planet).

His whispery, high-pitched speaking voice was constantly imitated, his fedora hat on his lean frame instantly recognizable, his childlike image endearing.

He influenced artists ranging from Justin Timberlake to Madonna, from rock to pop to R&B to even rap, across genres and groups that no other artist was able to unite. He changed music videos with "Thriller" in 1983, still considered by most to be the greatest music video ever made. Stars like Beyonce still mimic his moves. His one glove, white socks and glittery jackets made him a fashion trendsetter, making androgyny seem sexy and even safe.

Almost everyone wanted that Michael Jackson connection (and those who didn't were afraid to say so out loud). His celebrity and adoration was staggering.

So when his image began to crumble, becoming twisted and disturbed, that aspect, too, was larger than life. His multiple plastic surgeries and his vitiligo illness, which saw him transform from a masculine looking black man to a wispy, pale-faced, almost noseless figure, was held up as the standard for bad plastic surgery, a freakish-looking character.

His eccentric behavior left people confused, and when allegations (and later criminal charges) that accused him of sexually molesting two separate boys surfaced on two separate occasions, people were repelled by his alleged behavior and the man that their former idol had become.

And yet, it was hard to look away.

In the early days, no one wanted to. Jackson came into our public consciousness as an impossibly cute preteen wonder in 1969, an unbelievably precocious singer of his family band, The Jackson 5. The soon-to-be Motown legend channeled songs like "I Want You Back," and "I'll Be There" with a passion and soulfulness that belied his young years. Even then, his dance moves, copped from the likes of James Brown and Jackie Wilson, were exquisite, and his onstage presence outshone seasoned veterans.

The spotlight began to dim when he entered his late teens, however, and while he still had R&B hits with the Jacksons, it seemed as if he would never recapture the pop success that he burst onto the scene with as a child.

But then he met Quincy Jones, and the musical landscape changed. With the legendary producer, Jackson crafted what for most artists would be a career-defining album, from the string-enhanced disco classic "Don't Stop Til You Get Enough," a party staple which he wrote, to the bitter ballad "She's Out of My Life." The best-selling CD showed the world a grown-up Michael Jackson with grown-up artistry, showcasing his breathy alto-soprano voice and providing a springboard to his early videos, which gave a glimpse of the dance wizardry to come.

At the time, it was Jackson's music that was front and center. A 21-year-old who spoke in a breathy, high voice, still lived at home, had his first, barely noticeable nose job and was a self-claimed virgin in an industry known for its hedonism, he was certainly an odd figure, but his personal life had yet to become intertwined with his public image.

That began to change during "Thriller" — the album that would become his greatest success and his career-defining achievement. Also produced by Quincy Jones, it featured even more of Jackson's songwriting talents; Selling more than 50 million albums worldwide to become the globe's best-selling disc, it spawned seven Billboard top 10 hits, including two No. 1s with "Billie Jean" and "Beat It," won an then-unprecedented eight Grammy awards, and numerous other awards.

It was an impact measured much more than in stats.

He broke MTV's color barrier, becoming the first black artist played on the young, rock-oriented channel when the success of "Billie Jean" and "Beat It" became so overwhelming it could not be ignored. He also established the benchmark for the way videos would be made, with stunning cinematography, precision choreography that recalled great movie musicals. Jackson's amazing talents as a dancer were also displayed to the world during his Emmy-nominated performance for Motown's 25th anniversary. It is still considered one of TV's most thrilling moments, from his moonwalk strut to his pulsating pelvic movements.

But as Jackson's fame grew, his eccentricities, from his strange affinity for children and all things childlike, to his at times asexual image to his fascination with plastic surgery, began to dull the shine off of his sparkling image. As the years went by, those "eccentricities" would become more bizarre, and completely tarnish it.

His skin, once a dark brown, became the color of paste, a transition he blamed on the skin disease vitiligo, though some believed he simply bleached his skin in order to appear more Caucasian. That belief was rooted in his frequent plastic surgeries, which whittled his nose from a broad frame to an almost impossibly narrowed bridge. His image was a tough one to look at, much less embrace.

If his plastic surgery made him disturbingly unwatchable, soon, allegations of child abuse would make him reviled among many. He was first accused of molesting a 13-year-old boy in 1993; no charges were ever filed, a civil lawsuit was settled out of court and he always maintained his innocence. Although he had a chart-topping album with "HIStory" in 1995 and was still a superstar, he was a damaged one — and would never fully recover from the allegation.

A criminal charge of molestation of another young boy in 2004, which resulted in his acquittal in 2005, further stripped his marketability and his legacy; after the trial ended, he went into seclusion, and while top hitmakers from Ne-Yo to Akon courted him to make new music, no new CD was ever released. He was overwhelmed with legal and financial troubles, with what seemed like weekly lawsuits against him seeking money owed.

A comeback seemed to be most unlikely. His reputation was considered irreparably damaged, his image mocked and his name an automatic punchline. But when he announced he'd be doing a series of comeback concerts at London's famed O2 Arena in London, not only did the initial dates sell out immediately, the demand was so insatiable he was signed on for an unprecedented 50 shows, and was expected to embark on a worldwide tour sometime after the concert series was complete in March.

Of course, there will be no comeback now, no Jackson 5 reunion, no new music to share with millions of fans. But the legacy he leaves behind is so rich, so deep, that no scandal can torpedo it. The "Thriller" may be gone, but the thrill will always remain. - AP

see more http://breaktime-news.blogspot.com/

Michael Jackson's death stuns fans across nation

2009-06-25T18:50:00.000-07:00

LOS ANGELES – Across the country, people reacted in stunned disbelief Thursday as word spread that Michael Jackson had collapsed and died. Within minutes of Jackson's arrival by ambulance at Ronald Reagan UCLA Medical Center people began arriving by the hundreds, the crowd quickly filling a grassy entrance outside the hospital. Overhead, news helicopters whirred noisily and TV trucks clogged streets.

As word spread a few minutes later that Jackson had died, several people burst into tears. Others stood silently, looking pensive, as they waited for official word from the hospital. Still others whipped out cell phones and began calling or texting friends to pump them for information.

A similar scene played out just a couple miles away, in front of Jackson's tony Holmby Hills home, where a Fire Department ambulance had arrived to take him to the hospital.

"I'm in shock," said Becky Williams, a 26-year-old Jackson fan from Salt Lake City who happened to be visiting her sister just down the street.

"He's gone. The legend of music," Williams said in disbelief as she stood outside Jackson's home.

In Holmby Hills, cars — many of them with stereo systems blaring songs from Jackson's classic "Thriller" album — began go clog the streets.

As people began to leave their cars to snap pictures, a police officer warned them their cars would be towed if they didn't move.

Among those who drove to the neighborhood was Sue Mossell, who was visiting from Georgia with her two sons, 7-year-old Ryan and 12-year-old Jimmy.

Ryan placed a pink flower in front of Jackson's gate.

"He wanted to put a flower down for him," said Mossell, 46, who said she grew up listening to Jackson's music.

___

Associated Press writers Derrik J. Lang, Anthony McCartney and Solvej Schou contributed to this story.

source said

Pacquiao seeks place in world boxing history

2009-05-02T04:40:00.000-07:00

Filipino boxing hero Manny Pacquiao is on the brink of achieving a “sixth” world title, this time in the 140-pound division, as he challenges International Boxing Organization (IBO) and the Ring Magazine junior welterweight champion Ricky Hatton.

The pride of General Santos City and of the whole Philippines as well has already won the World Boxing Council (WBC) lightweight, the WBC super featherweight, the International Boxing Federation (IBF) super bantamweight, and the WBC flyweight world titles.

He also won an “extra” world title when he copped the lineal featherweight championship by beating Marco Antonio Barrera in 2003, though he never held a sanctioning belt in that division.

According to Wikipedia, the lineal championship is an abstract world championship title held at some moment in time by a boxer universally acclaimed as “the best in the class”.

If Pacquiao beats Hatton, he gets another lineal title in a fourth division.

“In other words, he'll be considered the ‘real’ champion in a fourth division, not just a mere titleholder, the way he was when he claimed his junior featherweight belt and lightweight title,” explained analyst Dan Rafael in his article posted on ESPN.com.

Boxing historian Bert Sugar said Pacquiao will become one of the boxing greats if he wins a junior welterweight title.

“Even with all the belts, he's still the lineal champion in so many weight classes. I make him out to be the greatest Asian fighter of all time, and conceivably, one of the greatest fighters of all time if he can carry this off,” said Sugar.

Pacquiao said a win over Hatton is very important to him.

"It is very important for me to win [titles] in six different divisions for the people of my country," said Pacquiao. "Being a six-division champion, if that happens, people will want to put my name in boxing history, and that will be my legacy."

Even Oscar de la Hoya, who was considered the lineal champion in three weight divisions, is aware of what Pacquiao is trying to accomplish.

"He's in a position now where he can make history," said de la Hoya, whom Pacquiao beat last December. "It's not easy to jump six weight classes. It's not easy at all. It's probably the most difficult task that any fighter can have. I've always said it was more difficult than just being world champion for 10 years at one weight class."

Mayweather Jr. set to return?

As tension for the Pacquiao-Hatton fight continues to escalate, rumors of the "unretirement" of former pound-for-pound king Floyd Mayweather began to swirl.

Dan Rafael cited sources as saying that Mayweather is close to sealing a fight deal with Pacquiao's nemesis, Juan Manuel Marquez of Mexico. as his return match after springing back from retirement.

"The deal was finalized Friday afternoon following a flurry of conversations over a six-hour period, a source said," said Rafael.

Mayweather is reportedly set to announce his return to the ring the same day Pacquiao and Hatton will be fighting.

The former pound-for-pound king, who remains undefeated in 39 fights, has been away from boxing action for more than 17 months.

Mayweather might face Pacquiao should the Filipino win over Hatton.

http://www.abs-cbnnews.com/sports/05/02/09/pacquiao-seeks-place-world-boxing-history

2009-05-02T04:36:00.000-07:00

Agence France-Presse | 05/02/2009 8:31 AM

LAS VEGAS - Thousands of screaming British boxing supporters cheered on Ricky Hatton at Friday's weigh-in for Saturday's junior welterweight bout with Filipino Manny Pacquiao, who also had strong support.

Chanting "There's only one Ricky Hatton" over and over with some renditions of "God Save the Queen" and "Rule Britannia" thrown in as well, flag-waving backers of the English fighter drowned out their Asian rivals.

"It makes me feel really proud," Hatton told the crowd. "It's going to be an honor to fight for you Saturday night and you will not go home disappointed."

About 4,500 people, 90 percent of them cheering and chanting for Hatton, watched as the International Boxing Organization champion tipped the scales at the 140-pound limit, two pounds heavier than pound-for-pound king Pacquiao.

"I want to make you guys happy," Pacquiao told the crowd. "We're going to have a great fight."

The rowdy, English Premiership football-style atmosphere peaked when Hatton and Pacquiao traded glares, "Pacman" breaking the tension with a smile while "The Hitman" remained stonefaced as the crowd roared.

"When you have the Brits come over for Hatton, this is by far the biggest and best crowd I've ever seen," promoter Oscar de la Hoya said of the turnout. "I'm glad I retired so I can go have a pint."

Hatton said 25,000 British supporters have made the trip to Las Vegas for the fight at 15,000-seat MGM Grand Garden Arena, where the weigh-in was conducted with only about one-third of the capacity open to the public.

For many, it represented their only hope of seeing either fighter in person as the fight has been sold out for weeks. Hundreds of people stood on line for hours for the chance to see the weigh-in, practicing vocals during the wait.

Pacquiao, trying to become a champion in his record-tying sixth different weight division by lifting Hatton's crown, weighed-in at his second-heaviest size for a bout but was still fit enough to flex his ripped chest muscles.

The only time Pacquiao has weighed more for a fight was last December, when he was 145 pounds for an eighth-round stoppage of de la Hoya.

Hatton, undefeated at junior welterweight as he tries to take Pacquiao's pound-for-pound title, was at the 147-pound welterweight limit for his 2006 victory over Luis Collazo and his 2007 loss to Floyd Mayweather Jnr.

Other than those two fights, Hatton has been at 140 or less in every fight since January of 2000.

In the only other world title bout on the card, World Boxing Council super featherweight champion Humberto Soto of Mexico weighed 130 pounds, one pound heavier than Canadian challenger Benoit Gaudet.

source : http://www.abs-cbnnews.com/sports/05/02/09/weigh-whips-fans-pacquiao-hatton-showdown

2009-04-08T08:33:00.000-07:00

MANILA, Philippines -- The 1,310 passers of the 2008 Bar examinations will take their oath on Apr. 28 at the Philippine International Convention Center, the Supreme Court announced today.
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The oath will be administered by Supreme Court Chief Justice Reynato Puno.

Beginning today, the passers may secure their clearances from the Office of the Bar Confidant at 8:30 a.m. to 11 a.m., and 2 p.m. to 4 p.m., from Monday to Friday, until Apr. 27.

A total of 1,310 out of 6,364 takers or 20.58 percent passed the Bar examinations held Sept. 7, 14, 21 and 28 last year at the De La Salle University in Manila. Judy Lardizabal of San Sebastian College topped the exams with a score of 85.7 percent.

Justice Dante Tinga headed the 2008 Committee on Bar Examinations. - By Dennis Carcamo (Philstar News Service, www.philstar.com)

ATELIER RESIDENCES CONDOMINIUM

2009-01-20T08:54:00.000-08:00

Atelier Residences Condominium is just 20 meters after Windland Tower located at Juana Osmena Extention Road. Just 100 meters from the main highway Escario Street.

Escario Street is major road where a lot of PUJ route pass thru to North (like Lahug, Ayala, Mandaue, SM City) and South (like Labangon, Downtown, Jones Avenue). Or just ride a Taxi which is easily available at the Taxi Lane located just 10meters away from the Condo.

Construction Update (12-30-08)
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Ground Breaking Ceremony (December 18, 2008)
3 Photos

1BR PERSPECTIVE
4 Photos

location
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BUILDING FEATURES
1 Photo, 2 comments

available units 1br, 2br, 3br
5 Photos

Disclaimer:

For announcement purposes only. All visuals and specifications indicated in this material may change without prior notice. This does not constitute an offer to sell and the developer cannot be held responsible to any party by reason of this material.

atelier residences map.jpg

more info contact Virgilio Vallecera
63322599779,63322548618/639264902065

Six-Figure Jobs You Don't Need a College Degree For

2009-01-19T18:03:00.000-08:00

14 Ways to Get to Six Figures Without Doing Four Years First

Maybe you don't want to spend all that time taking classes in obscure subjects while hoping to find your calling and piling up student loan debt. Maybe you don't really care so much about college. You just want to work and make money.

You can do it, but there aren't many fields where it happens very often. In our list (see below) of 14 potentially six-figure jobs that don't require a four-year diploma, only two have a median wage of above $100,000. For the rest, you'll have to be in the top 10% of earners, and even then you may find yourself working 50 to 60 hours a week.

Dr. Al Lee, director of quantitative analysis at Payscale.com, says that most of these jobs share a few qualities. (Payscale's research provided the numbers that made this list possible. The company measured the average earnings for people with eight or more years in their field.)

=========================================
More from Forbes.com:

* In Depth: Jobs That Can Earn More Than $100,000 Without College
* In Depth: The 10 Top Jobs for Today's Grads
* In Depth: Top 10 Recession-Proof Jobs
* In Depth: Government Jobs You Should Apply For Now

=========================================

No test can tell an employer how good you might be at some of these lines of work -- real estate broker or fashion designer, for example. That's why a degree is less important to a potential employer than field experience and demonstrated past success. Either you're good at it or you're not.

Many of these jobs rely on variable pay (commission and overtime) to break six figures. Good plumbers, ultrasound techs and construction managers generally do a lot of overtime. It's far more valuable to a company to pay them extra than to hire an additional employee, Lee says. And that means workers can break past what they would earn if confined to 40 hours a week.

Stress is pretty much a given in all these occupations. A high price for failure is not uncommon. Cost estimators can't estimate too high on a project or they'll risk losing it to a competitive bidder. They can't go too low or their company won't make money on the deal. Radiation therapists and ultrasound technologists have to worry about the danger of malpractice suits. Court reporters mustn't miss a word in the courtroom. Air traffic controllers know that hundreds of lives ride on their actions.

Almost all these positions produce revenue that can give them a clearly defined monetary value. An executive chef at a hotel can pull in guests or send them fleeing. An ultrasound technologist or radiation therapist paid $100,000 a year can bring the hospital several times that. A sales manager's value can often be pinpointed in dollars and cents at the end of the year. Also, a few of these jobs -- air traffic controller, police supervisor, court reporter -- have unions to thank for their good pay.

Lee says now is as good a time as any to start on the path to one of these jobs. The market may be in bad shape, but companies will still need competent workers. When better to find out if you're truly good at something than when it's most difficult?

He says of people who make more than $100,000, "At the end of the day, the largest percentage of them are degree-holders." But you definitely can get there this way -- not that it's easy. "You learn on the job. You pay attention. You move your way up."

Could it be time to design your five- or 10-year path to six figures? Below is a list of 14 options for possible six-figure jobs without a degree.

1. Real Estate Broker
2. Air Traffic Controller
3. Small Business Owner/Operator
4. Fashion Designer
5. Plumber, Pipe Fitter or Steamfitter
6. Non-Retail Sales Manager
7. Network/Data Communications Manager
8. Construction Superintendent/Manager
9. Radiation Therapist
10. Police and Detective Supervisor
11. Ultrasound Technologist
12. Hotel Executive Chef
13. Court Reporter
14. Construction Cost Estimator

In Depth: The 14 Jobs That Can Earn More Than $100,000 Without College

3d wallpapers

2009-01-03T16:30:00.000-08:00

Three-dimensional space is a geometric model of the physical universe in which we live. The three dimensions are commonly called length, width, and depth (or height), although any three mutually perpendicular directions can serve as the three dimensions.

In physics, our three-dimensional space is viewed as embedded in 4-dimensional space-time, called Minkowski space (see special relativity). The idea behind space-time is that time is hyperbolic-orthogonal to each of the three spatial dimensions.

In mathematics, Cartesian geometry (analytic geometry) describes every point in three-dimensional space by means of three coordinates. Three Coordinate axes are given, each perpendicular to the other two at the origin, the point at which they cross. They are usually labeled x, y, and z. Relative to these axes, the position of any point in three-dimensional space is given by an ordered triple of real numbers, each number giving the distance of that point from the origin measured along the given axis, which is equal to the distance of that point from the plane determined by the other two axes.

Other popular methods of describing the location of a point in three-dimensional space include cylindrical coordinates and spherical coordinates, though there are an infinite number of possible methods. See Euclidean space.

Another mathematical way of viewing three-dimensional space is found in linear algebra, where the idea of independence is crucial. Space has three dimensions because the length of a box is independent of its width or breadth. In the technical language of linear algebra, space is three dimensional because every point in space can be described by a linear combination of three independent vectors. In this view, space-time is four dimensional because the location of a point in time is independent of its location in space.

Three-dimensional space has a number of properties that distinguish it from spaces of other dimensions. It is, for example, the smallest dimension in which it is possible to tie a knot in a piece of string [1]. Many of the laws of physics, such as the various inverse square laws, depend on dimension three [2].

The understanding of three-dimensional space in humans is thought to be learned during infancy using unconscious inference, and is closely related to hand-eye coordination. The visual ability to perceive the world in three dimensions is called depth perception.more3d

US blames Hamas for growing Mideast violence

2009-01-03T16:26:00.000-08:00

WASHINGTON – The United States on Saturday blamed the more than week-old onslaught in the Gaza strip squarely on Hamas militants and avoided any criticism of Israel despite mounting world outrage over a death toll now topping 460 and growing.

Israel launched a ground invasion of Gaza on Saturday in its bid to stop the Hamas rocket attacks.

A State Department official said the U.S. is working toward a cease-fire but provided no details on how this can be accomplished because the U.S. does not talk to Hamas. Spokesman Sean McCormack said a cease-fire is needed that will not allow Hamas to continue firing rockets into Israel. The comments were made after Israel launched a ground invasion of Gaza.

McCormack said "it's obvious the cease-fire should take place as soon as possible," but it has to be sustainable and cannot allow Hamas to continue to launch rockets out of Gaza.

The U.N. Security Council scheduled emergency consultations Saturday night to address the escalation of violence in Gaza, and Secretary-General Ban Ki-moon urged an immediate halt to Israel's ground operation.

White House spokesman Gordon Johndroe said President Bush was briefed this afternoon on the situation in Gaza and said U.S. officials are in "regular contact with the Israelis as well as officials from countries in the region and Europe."

Asked if the U.S. was warned before the invasion, Johndroe did not answer that question, but said: "Their ground action is part of their overall operation. We continue to make clear to them our concerns for civilians, as well as the humanitarian situation."

A senior U.S. defense official in Washington said it appeared that the Israeli ground force that entered Gaza was perhaps several thousand strong. The official, who spoke on condition of anonymity because of the sensitivity of the situation, said it appeared the objective of the ground assault was not just to deal with the current problem of rocket attacks into southern Israel but to seek longer-term security.

With time running out on the Bush presidency, the crisis in Gaza is likely to carry over to President-elect Barack Obama.

The escalation of fighting in Gaza comes as the Bush administration approaches its final two weeks in office, with Obama scheduled to become president on Jan. 20.

Israeli warplanes have rained bombs on Gaza, targeting the Palestinian militant group Hamas, which has traumatized southern Israel with intensifying rocket attacks. More than 460 Palestinians and at least four Israelis have been killed. The U.N. estimated Friday that a quarter of the Palestinians killed were civilians.

President George W. Bush also spoke about the situation in Gaza during his weekly radio address.

Calling the Hamas attacks an "act of terror," Bush said the United States was "leading diplomatic efforts to achieve a meaningful cease-fire."

"Another one-way cease-fire that leads to rocket attacks on Israel is not acceptable," he said in the address, which was released Friday. "And promises from Hamas will not suffice — there must be monitoring mechanisms in place to help ensure that smuggling of weapons to terrorist groups in Gaza comes to an end."

Before Saturday's movement of Israeli ground troops. U.S. Secretary of State Condoleezza Rice had briefed Bush on developments in Gaza and conducted telephone diplomacy in hopes of arranging a truce. Yet, she said she had no plans to make an emergency visit to the region.

___

Associated Press writers Bob Burns, Matthew Lee and Anne Gearan contributed to this report.

Stocks up after GMAC lifeline, retail sales dip

2008-12-29T18:43:00.000-08:00

NEW YORK — Wall Street put together a moderate advance in light post-holiday trading Friday after the finance arm of General Motors got a government lifeline, but dreary holiday spending readings dimmed the chance of a big year-end rally. The major indexes finished the week with losses.

Not surprisingly, Americans spent much less on gifts this season than they did last year, according to SpendingPulse, a division of MasterCard Advisors. Retail sales dropped between 5.5 percent and 8 percent compared with last year, the data showed, or between 2 percent and 4 percent after stripping out auto and gas sales.

Personal consumption is a huge part of US economic activity — comprising more than two-thirds of gross domestic product — so Wall Street is nervous that a more frugal consumer could keep the economy weak in 2009.

Investors did get a some good news on Christmas Eve, when the Federal Reserve allowed GMAC Financial Services — the finance arm of struggling Detroit automaker General Motors Corp. — to become a bank holding company and thus qualify for the government's $700 billion rescue fund. Analysts had said that without financial help, GMAC might have had to file for bankruptcy protection or shut down.

There was little conviction behind the advance, which the market managed after stocks meandered for much of the session. With just three full trading days left in the year, no news has been upbeat enough to spark a big year-end rally, a consequence of the great uncertainty still in the market. December is usually a strong month for stocks, and a flurry of trading known as a "Santa Claus rally" is often seen in the final week.

"I think we could have a year-end rally, but it's got a formidable headwind in the form of tax-selling, in my view," said Hugh Johnson, chairman and chief investment officer of Johnson Illington Advisors.

Tax-loss selling is when investors sell their poorly-performing stocks to realize a loss for the year, which can reduce their taxes in upcoming years.

The Dow Jones industrial average rose 47.07, or 0.56 percent, to 8,515.55 after Thursday's market holiday.

Broader stock indicators also rose. The Standard & Poor's 500 index rose 4.65, or 0.54 percent, to 872.80, and the Nasdaq composite index rose 5.34, or 0.35 percent, to 1,530.24. The Russell 2000 index of smaller companies rose 6.28, or 1.33 percent, to 476.77.

For the week, the Dow ended down 0.74 percent, the S&P 500 fell 1.7 percent and the Nasdaq lost 2.1 percent.

As the year winds down, investors are flummoxed over what 2009 might bring. Some market analysts are predicting a stock market recovery, and others are predicting more volatility; but nearly all are doing so with the caveat that anything is possible.

"It's hard to imagine another year that is going to be as dismal or dark or bad as 2008," Johnson said. "It's even hard to imagine that we have another down year in 2009 — the odds are the stock market will be higher at the end of 2009. Common sense tells you that."

The Dow is down 35.8 percent for the year.

But, Johnson added, it's impossible to forecast the end of a bear market, and "confidence can turn on a dime."

On Friday, the dollar was down against other major currencies, while gold prices rose.

Demand for government bonds increased. The three-month Treasury bill's yield fell to 0.01 percent from 0.02 percent late Wednesday, and the 10-year Treasury note's yield fell to 2.14 percent from 2.19 percent.

Light, sweet crude rose $2.36 to $37.71 a barrel on the New York Mercantile Exchange. Crude prices had tumbled Wednesday for the ninth straight day — dipping as low as $35.13 — after gloomy economic reports and growing stockpiles of unused gasoline suggesting eroded demand.

GMAC notes shot higher on the news of the company's transformation into a bank. GMAC's 7.25 percent note due to mature in 2033 rose 88.5 percent to $9.67 from $5.13 on Wednesday. But analysts were wary of the big price move, noting that volume was thin, and saying there is still much to be resolved about the company's finances. - AP

Across Mideast, thousands protest Israeli assault

2008-12-28T11:38:00.000-08:00

BEIRUT, Lebanon – Crowds of thousands swept into the streets of cities around the Middle East on Sunday to denounce Israel's air assault on Hamas targets in the Gaza Strip.

From Lebanon to Iran, Israel's adversaries used the weekend assault to marshal crowds into the streets for noisy demonstrations. And among regional allies there was also discontent: The prime minister of Turkey, one of the few Muslim countries to have relations with Israel, called the air assault a "crime against humanity."

Several of Sunday's protests turned violent. A crowd of anti-Israel protesters in the northern Iraqi city of Mosul became a target for a suicide bomber on a bicycle.

In Lebanon, police fired tear gas to stop dozens of demonstrators from reaching the Egyptian Embassy. Some in the crowd hurled stones at the embassy compound. It was unclear if anyone was hurt.

Egypt, which has served as a mediator between Israel and the Palestinians as well as between Hamas and its rival Fatah, has been criticized for joining Israel in closing its borders with Gaza. Egyptian Foreign Minister Ahmed Aboul Gheit called on Hamas to renew its truce with Israel: "There has been a calm and we should work to restore it."

France also called for the truce to be renewed and rallied European nations to use "all their weight" to stop the fighting between Israel and Hamas.

"We have entered a new spiral of despair," French Foreign Minister Bernard Kouchner told the Journal du Dimanche in an interview published Sunday. "The truce must be restored."

Kouchner noted that the attacks come "in a context of vacancy of power in Israel and the U.S." as both countries are undergoing leadership transitions.

"Europe has a role to play," Kouchner said.

In Beirut, Hamas representative Osama Hamdan told the crowd that the militant group had no choice but to fight. Gaza militants have been lobbing dozens of rockets and mortars into southern Israel since a six-month truce expired over a week ago, prompting Israel's fierce retaliation.

"We have one alternative which is to be steadfast and resist and then we will be victorious," Hamdan said.

In the capital of neighboring Syria, more than 5,000 people marched toward the central Youssef al-Azmeh square, where they burned an Israeli and an American flag.

One demonstrator carried a banner reading, "The aggression against Gaza is an aggression against the whole Arab nation."

"Down with America, the mother of terrorism," read another.

In Amman, Jordan, about 5,000 lawyers marched toward parliament to demand the Israeli ambassador's expulsion and the closure of the embassy. "No for peace, yes to the rifle," they chanted.

In Jordan's squalid Baqaa camp for Palestinian refugees and their descendants, protester Yassin Abu Taha, 32, blamed America and Israel for the Middle East's problems.

"The Israelis kill our people in Gaza and the West Bank. The Americans kill our people in Iraq. We're refugees, kicked out of our home in Tulkarem in 1967 and we're still displaced," he said, bemoaning his family's flight in the 1967 Mideast war.

The U.S. Embassy in Jordan warned Americans to avoid areas of demonstrations.

Thousands of Egyptians — many of them students — demonstrated at campuses in Cairo, Alexandria and elsewhere and accused President Hosni Mubarak and other Arab leaders of not doing enough to support the Palestinians.

Iran's president, Mahmoud Ahmadinejad, who has said Israel should be "wiped off the map," denounced the Israeli strikes.

And in the normally politically placid streets of glitzy Dubai, hundreds of demonstrators — some draped in Palestinian flags — gathered at the Palestinian consulate.

"This is a time for the Palestinians and Arabs to unite to fight against a common enemy," said Majdei Mansour, a 30-year-old Palestinian resident of Dubai. Mansour said he has been unable to contact his family in Gaza since the latest fighting.

In Iraq, where the government has also condemned the Gaza airstrikes, a suicide bomber on a bicycle blew himself up amid a crowd of about 1,300 demonstrators in Mosul who were protesting against Israel, killing one demonstrator and wounding 16, Iraqi police said.

There was no claim of responsibility for the attack on the demonstration, which was organized by a Sunni party in sympathy for Palestinians in Gaza, who are largely fellow Sunnis.

___

Associated Press writers Albert Aji in Damascus, Syria; Nasser Karimi in Tehran, Iran; Jamal Halaby in Amman, Jordan, and Hamid Ahmed in Baghdad contributed to this report.

sources

UN says nearly 1 billion hungry

2008-12-21T16:34:00.000-08:00

ROME — High food prices have pushed the number of hungry people in the world close to 1 billion, a United Nations agency said Tuesday.

The Rome-based Food and Agriculture Organization said in a report that 40 million people have fallen into hunger this year, bringing the number of needy to 963 million.

"For millions of people in developing countries, eating the minimum amount of food every day to live an active and healthy life is a distant dream," said Hafez Ghanem, the organization's assistant director general.

Even though prices of major cereals fell by over 50 percent from their peaks earlier this year, they remain high compared to previous years, the agency said.

Among the poor, the agency said, landless and female-headed households are most vulnerable to sharp rises in food prices.

According to the report, nearly two-thirds of the world's hungry live in Asia, while in sub-Saharan Africa one person in three is chronically hungry.

The agency warned that reduced demand in industrialized countries due to the global financial crisis could threaten exporters in developing countries.

Investments and other capital flows, including development aid, are also at risk, the agency said. - AP

SWS: More Pinoy families go hungry

2008-12-21T16:33:00.000-08:00

MANILA, Philippines – Hunger has reached a new peak nationwide, a new Social Weather Stations (SWS) survey showed, with the national percentage of families having experienced nothing to eat rising to nearly a quarter of all households.

At 23.7 percent — equivalent to 4.3 million families — this month’s finding surpassed the previous record of 21.5 percent — recorded in September 2007 — and was 11 points higher than the 10-year average of 12.6 percent, survey results made exclusive to BusinessWorld showed.

The December 2008 score is also five points higher than the 18.4 percent posted last September.

It put this year’s hunger average at 18.5 percent, up from last year’s 17.9 percent. The independent survey research institute noted that hunger has been in double-digit territory since June 2004.

A National Anti-Poverty Commission (NAPC) official, however, expressed doubts over the findings, pointing to government efforts to eradicate hunger and provide employment to the poor.

An economist, meanwhile, said the higher hunger was an effect of the global economic downturn and warned that next year’s results could be worse due to a slowdown in consumption and job losses among Filipino migrant workers.

The latest SWS survey was fielded over November 28-December 1, 2008 and covered 1,500 respondents nationwide.

In face-to-face interviews, household heads were asked: "Nitong naka-raang tatlong buwan, nangyari po ba kahit minsan na ang inyong pamilya ay nakaranas ng gutom at wala kayong makain? Kung Oo: Nangyari po ba ’yan ng minsan lamang, mga ilang beses, madalas, o palagi? (In the past three months, was there an instance when your family experienced hunger or had nothing to eat? If yes, did it happen only once, a few times, often, or always?).

Respondents were divided into random samples of 300 each in Metro Manila, Visayas, and Mindanao, and 600 in the rest of Luzon. Sampling error margins of ±2.5 percent for national percentages, ±6 percent for Metro Manila, Visayas and Mindanao, and ±4 percent for the rest of Luzon were used.

The SWS said the five-point increase in total hunger between September and December could be attributed to a three-point rise in moderate hunger and the two-point increase in severe hunger.

Moderate hunger, pertaining to those who experienced it "only once" or "a few times" in the last three months, hit a record high of 18.5 percent (around 3.3 million families) in December from 15.2 percent (around 2.7 million families) in September. The December figure is nine points higher than the ten-year average moderate hunger rate of 9.2 percent. Counted in this category were those who did not state their frequency of hunger.

Severe hunger — meaning it was experienced "often" or "always" in the last three months, rose by three points to 5.2 percent (about 940,000 families) in December from 3.2 percent (about 580,000 families) in September. The latest figure is higher by two points than the ten-year average severe hunger rate of 3.3 percent.

The percentage of families who experienced hunger reached record highs in Mindanao and in Metro Manila. Overall hunger was the highest in Mindanao at 33.7 percent (around 1.4 million families) from 18.3 percent. It was at 23.3 percent (around 570,000 families) in Metro Manila, barely moving from 23 percent last September but nevertheless still a new peak for the area. It was up nine points in the Visayas to 20.7 percent (around 750,000 families) from 11.7 percent and remained at 20 percent (1.6 million families) in the rest of Luzon.

Moderate hunger hit record highs in Mindanao (27.7 percent from 16 percent) and in the Visayas (18 percent from 11.3 percent). It went up in Metro Manila (18.3 percent from 15 percent) but declined in the rest of Luzon (14 percent from 16.5 percent).

"In all areas, the latest moderate hunger rates remain higher than their ten-year averages," the SWS said.

Severe hunger went down in Metro Manila (5 percent in December from 8 percent in September) but rose in Mindanao (6 percent from 2.3 percent), the Visayas (2.7 percent from 0.3 percent) and in the rest of Luzon (6 percent from 3.5 percent).

"The latest severe hunger figures remain higher than their ten-year averages in all areas except Visayas, where its latest score of 2.7 percent was slightly lower than its ten-year average of 3.1 percent," the SWS said.

Asked to comment, NAPC lead convenor Domingo F. Panganiban expressed reservations over the results, claiming that the government had already implemented programs to help the poor and address the problem of hunger.

"I cannot say that the results are reliable. Last month we went to the poorest provinces and the people there were thanking the government for its initiatives like the P500 electricity subsidy and the conditional cash transfer. Aside from that, the price of rice has fallen because of the access cards issued by the government," he told BusinessWorld in a telephone interview.

The P500 power subsidy, which was designed to help poor households pay their electric bills, was funded by excess revenues from the value added tax on oil. The conditional cash transfer program, meanwhile, provides cash allowances to parents who send their children to school.

Mr. Panganiban said the government would continue to work to ensure that the poor were protected from the impact of the global economic crisis.

"The President has directed the Cabinet to oversee and implement employment programs in the regions. We expect to generate more than 1.2 million jobs in 2009. Our programs like the food for school will continue and in fact, the government has increased the budget for these programs," he said.

But Leonor M. Briones, a former National Treasurer who now teaches at the University of the Philippines, said the higher hunger incidence was proof that the economy was slowing down due to the global downturn.

"It is a sign of the slowing down of our economy. We have seen job losses, the retrenchment of overseas Filipino workers and higher prices of goods. The year 2009 may even be worse. We will also see lower consumption," she said.

"The government is not recognizing these economic difficulties. The 7 percent economic growth last year is consumption-based and is not sustainable. But consumption will weaken. The government is making it worse by committing corruption," she said.

Ms. Briones said the government should come up with reforms to address corruption and to ensure that state resources are channelled to the needy. - Alexis Douglas B. Romero, BusinessWorld

SKorean lawmakers brawl over US free trade pact

2008-12-18T05:18:00.000-08:00

SEOUL, South Korea – Brawling South Korean lawmakers tried to sledgehammer their way into a parliamentary meeting room barricaded by the ruling party as the country's National Assembly descended into chaos Thursday over passage of a free trade agreement with the United States.

Opposition parties were incensed by the ruling Grand National Party's move to submit the agreement to a parliamentary committee on trade, setting in motion the process for the accord to win approval in the legislature.

Security guards and aides from the ruling party stood guard outside the room to keep opposition lawmakers away after the committee's GNP-affiliated chairman invoked his right to use force to "keep order" in parliamentary proceedings.

Scuffles broke out as dozens of opposition members and their aides attempted to push their way into the office. TV footage showed people from both sides shoving, pushing and shouting in a crowded hall at the National Assembly building amid a barrage of flashing cameras.

Opponents later used a sledgehammer and other construction tools to tear open the room's wooden doors, only to find barricades of furniture set up inside as a second line of defense.

News cable channel YTN reported that an electric saw was used to open the door. YTN footage showed security guards spraying fire extinguishers at those trying to force their way inside.

The opposition attempt failed, and 10 GNP legislators introduced the bill to the committee.

South Korea and the United States signed the accord that calls for slashing tariffs and other barriers to trade in April last year after 10 months of tough negotiations, though neither side's legislature has yet ratified it.

The pact is the largest for the U.S. since the North American Free Trade Agreement with Canada and Mexico and the biggest ever for South Korea. NAFTA, signed in 1993, took effect the following year.

Proponents in both countries say it would not only expand trade but further cement ties between Washington and Seoul — key security allies who have cooperated on issues such as North Korea for decades.

Opponents counter that it will cause pain to key sectors in both nations — agriculture in South Korea and automobiles in the United States.

GNP legislators had locked themselves in the committee room earlier in the day to head off any opposition attempts to occupy the chamber — the only place where the bill can be introduced.

After a subcommittee review, the bill would be put to a vote at the committee before reaching the full parliamentary session for a final vote.

The GNP has a majority in both the committee and in the entire parliament, with 172 seats in the 298-member unicameral National Assembly. But the process is expected to be tough going because opposition parties say they will do whatever possible to stop it.

The main opposition Democratic Party says the trade deal should not be approved until the government comes up with better measures to protect farmers and others expected to suffer from increased U.S. imports.

The minor opposition Democratic Labor Party joined forces with the Democrats in Thursday's attempt to block the bill.

The ruling GNP says the trade pact should be approved as early as possible because South Korea — a major exporting nation — stands to gain much from the deal.

Amid concern the administration of President-elect Barack Obama might ask to renegotiate the agreement, supporters of the pact believe early ratification by Seoul could also put pressure on the U.S. Congress to do the same. - AP

Indian PM wants normalized relations with Pakistan

2008-12-18T05:15:00.000-08:00

KHUNDRU, India – India's prime minister says he wants "normalized" relations with Pakistan amid rising tensions between the South Asian rivals over the Mumbai attacks.

Talking at an election rally in Indian Kashmir on Sunday, Prime Minister Manmohan Singh India says he hopes relations between the neighbors can be "normalized," but that this "cannot happen as long as our neighboring country allows its soil to be used against us."

Singh traveled to Kashmir after a breakfast meeting with British Prime Minister Gordon Brown in New Delhi. The two leaders discussed the recent attacks on Mumbai, which have been blamed on a Pakistani-based Kashmiri militant group, Lashkar-e-Taiba. - AP

3 dead as blasts rock Iligan City a day before Arroyo visit

2008-12-18T05:02:00.000-08:00

ZAMBOANGA CITY, Philippines - Three people were killed and 47 others were wounded Thursday afternoon in two separate explosions that rocked two major shopping centers in Iligan City.

The explosions occurred a day before President Arroyo’s scheduled visit to Iligan City to attend the inauguration of Suka Pinakurat Processing Plant belonging to Green Gold Gourmet food products in Pugaan village.

This was the second time this month that attackers targeted an area that the President was scheduled to visit. Last December 12, Arroyo canceled a trip to Shariff Kabunsuan in Maguindanao after an improvised explosive device went off near a public market on the day before her scheduled visit.

Arroyo has condemned Thursday's twin bombings and ordered law enforcers to conduct "relentless" operations against the perpetrators, a Malacañang spokesman said Thursday.

“The President condemns the ruthless and violent acts of terrorism against our communities. The Philippine National Police and the Armed Fores will be relentless in their pursuit against the perpetrators," said presidential deputy spokesperson Anthony Golez.

"The government will not stop hunting these terrorists until they are put behind bars and we urge our people to coordinate with our law enforcers as to any information that might lead to the arrest of those responsible," Golez added.

Iligan City is Arroyo's maternal hometown.

Fatalities

The military said at least six people were hurt, but the local Red Cross said as many as 38 people were injured in the blasts that sent Christmas shoppers out in the streets.

An L-300 van was also destroyed in the attack, reports said.

Army Lt. Steffani Cacho, spokesperson of the military's Western Mindanao Command, said the first bomb exploded at 1:25 p.m. inside the Unicity Commercial Center. The next explosion occurred 20 minutes later at the Jerry Supermart.

"The improvised explosives were left at the baggage counters of both Unicity and Jerry's Supermart," Cacho told reporters.

Police Officer 3 Abdullah Sumayan of the Iligan City police identified the fatalities as Erwin Suico, 20, from Pugaan village; Jonas Badelles, 22, from Poblacion village; and Jalilah Mangondato, a 22-year-old nursing student from Marawi City.

In a phone interview with GMANews.TV, Sumayan said Mangondato has already been claimed by her family, while Badelles and Suico are still at the Cosmopolitan Funeral Homes.

The Philippine National Red Cross (PNRC) office in Manila said 21 people were hurt. It said seven victims were rushed by PNRC-Iligan Chapter volunteers to Dr Uy Hospital while five others at the Sanitarium Hospital and another one at the E & R Hospital.

Col. Benito de Leon, commander of the 104th Infantry Brigade, has sent bomb-sniffing dogs and explosives experts to help police in the investigations.

"We have sent K9 units and bomb experts in the area to help in the investigations," he said.

Malacañang has expressed condolences to the families of those who were killed in the blast.

"We condole with the families of those killed in this tragedy and the different government agencies will support those who have survived," Golez said.

Suspects

No group or individuals have claimed responsibility for the bombings, but previous attacks in the city had been blamed on Moro rebels and local militants trained by Jemaah Islamiyah.

A military official in the region said that the attacks might have been the handiwork of lawless elements of the Moro Islamic Liberation Front (MILF), noting that the components used in the explosives included mortar rounds – a known signature of the MILF.

“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. That is our initial findings," said Col. Nicanor Dolojan, commander of the Army’s 403rd Brigade.

Last month, at least three people were also wounded in the bombings of two budget hotels - the Traveler's Inn and the Caprice Lodge – in Iligan City.

Asked on the possible motive behind Thursday's attacks, Dolojan said: “Terrorism, which is their real intention, to sow terror in the area."

Dolojan said a close-circuit TV installed at the Unicity Mall was able to record two men, both wearing scarf, depositing a item at the mall’s baggage counter. The official said pictures of the suspects have been culled from the video.

Dolojan said the video showed one of the men going out of the mall, apparently to deposit another item at the Jerry’s bargain center. “After depositing the items, after how many minutes, the bombs went off," he said. - GMANews.TV

Bollywood planning movies about Mumbai attacks

2008-12-18T05:00:00.000-08:00

MUMBAI, India — Filmmakers in this hub of Indian cinema are already exploring how to bring the trauma of the deadly Mumbai attacks and the three-day siege that followed to the big screen, an industry official said Thursday.

At least 25 titles — including Taj to Oberoi and Mission Taj — have been registered with the Indian Motion Picture Producers' Association since the attacks that killed 164 people last month, Anil Nagrath, secretary of the Bollywood trade association, told The Associated Press.

Many of the registered titles center around the luxury Oberoi hotel and the Taj Mahal, whose burning dome became of the symbol of the attacks — including Taj 26, Taj to Oberoi, The Taj Encounter, 11/26 Operation Taj, Mission Taj, and Mission Oberoi.

One proposed project is called Nariman House after the Jewish center where the attackers killed a rabbi and his wife, he said by telephone.

The Taj, the Oberoi, Nariman House and Mumbai's main train station were among 10 sites in the commercial capital targeted by 10 suspected Islamic terrorists.

Nagrath denied that Bollywood, as India's Hindi-language film industry is known, is capitalizing on a national tragedy.

"Whenever there is a big happening like this, be it a cyclone, be it a hurricane, be it a bomb attack, or a carnage like this, the journalists write articles, television stations make special programs, authors write books," he said. "In the same way, for the filmmaker, the only option is to make a script, and the process of making a script begins with a title."

All the projects are still in early stages and are unlikely to be made soon because "the wounds are very raw," he said.

Veteran director B. Subhash, who registered the titles Taj Terror and Bird's Point of View Taj Terror, said he is working on his script and hasn't cast any actors or set a budget.

"I can only say it is going to be very emotional," Subhash told the AP by telephone.

Bollywood stars have responded cautiously to the Mumbai attacks, even though filmmakers were eager to draw audiences back to the theaters at a time when the industry was already hit by global economic woes.

One of the industry's biggest stars, Shah Rukh Khan, went ahead with the release of his new comedy Rab Ne Bana Di Jodi, or Match Made in Heaven, but was careful to strike the right tone, saying he hoped the film would provide relief from the recent events.

Civic activist Gerson da Cunha said it is natural that there is an artistic response to the tragedy in Mumbai, but expressed hopes that any Bollywood movie on the topic won't be too simplistic.

"I hope any film does not oversimplify or exploit or become jingoistic," said da Cunha, convener of Action for Good Governance and Networking in India, a group that has been active in calling for government reforms so that officials can better respond to future terror attacks.

"There is a place for good films," he said. "Whether Bollywood would be the home of such scripts and such directors is another issue." - AP

Court: No review of Obama's eligibility to serve

2008-12-09T03:54:00.000-08:00

WASHINGTON – The Supreme Court has turned down an emergency appeal from a New Jersey man who says President-elect Barack Obama is ineligible to be president because he was a British subject at birth. The court did not comment on its order Monday rejecting the call by Leo Donofrio of East Brunswick, N.J., to intervene in the presidential election.

Donofrio says that since Obama had dual nationality at birth — his mother was American and his Kenyan father at the time was a British subject — he cannot possibly be a "natural born citizen," one of the requirements the Constitution lists for eligibility to be president.

Donofrio also contends that two other candidates, Republican John McCain and Socialist Workers candidate Roger Calero, also are not natural-born citizens and thus ineligible to be president.

At least one other appeal over Obama's citizenship remains at the court. Philip J. Berg of Lafayette Hill, Pa., argues that Obama was born in Kenya, not Hawaii as Obama says and Hawaii officials have confirmed.

Berg says Obama also may be a citizen of Indonesia, where he lived as a boy. Federal courts in Pennsylvania have dismissed Berg's lawsuit. Federal courts in Ohio and Washington state have rejected similar lawsuits.

Allegations raised on the Internet say the birth certificate, showing that Obama was born in Hawaii on Aug. 4, 1961, is a fake.

But Hawaii Health Department Director Dr. Chiyome Fukino and the state's registrar of vital statistics, Alvin Onaka, say they checked health department records and have determined there's no doubt Obama was born in Hawaii.

The nonpartisan Web site Factcheck.org examined the original document and said it does have a raised seal and the usual evidence of a genuine document.

In addition, Factcheck.org reproduced an announcement of Obama's birth, including his parents' address in Honolulu, that was published in the Honolulu Advertiser on Aug. 13, 1961.

(This version CORRECTS that Hawaii officials, not secretary of state, confirmed Obama birth certificate.)

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ANALYSIS pacquia vs de lah hoya

2008-12-06T13:00:00.000-08:00

The dream match manny vs oscar

pacquiao vs de lah hoya

2008-12-06T12:44:00.001-08:00

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MANILA, Philippines - The last of the formalities has been formalized.

A final weigh-in, as usual, officially ended the training period and began a 24-hour wait for the main event. This final weigh-in, as expected, was trouble-free.

Manny Pacquiao tipped the scales at 142 pounds on Saturday (Friday, US time) at the MGM Grand Garden Arena in Las Vegas. Oscar de la Hoya came in at 145 pounds.

Both were well within the welterweight (147-pound) limit set for their match.

Now that that has been set aside, everybody knows what time it is. Game time.

"There's nothing more we can do. Now Manny knows he’s going there to do his job," Freddie Roach, Pacquiao's trainer, said.

Zimbabwe declares national health emergency

2008-12-04T02:51:00.000-08:00

HARARE, Zimbabwe – Zimbabwe has declared a national emergency over its cholera epidemic and the collapse of its health system due the country's economic crisis.

"Our central hospitals are literally not functioning," Minister of Health David Parirenyatwa was quoted as saying by the state-run Herald newspaper on Thursday.

The Herald said Parirenyatwa declared the state of emergency at a meeting Wednesday of government and international aid officials in Harare. He appealed for money to pay doctors and nurses, and for drugs, food and equipment for Zimbabwe's hospitals.

"Our staff is demotivated and we need your support to ensure that they start coming to work and our health system is revived," he was quoted as saying.

The United Nations puts deaths from the cholera epidemic at more than 500. The outbreak is blamed on lack of water treatment and broken sewage pipes in a country that once had a sophisticated infrastructure.

The deputy water minister, Walter Mzembi, who also attended Wednesday's meeting, said his ministry had only enough chemicals to treat water for 12 more weeks.

The Herald said U.N. agencies, embassies and non-governmental organizations at the meeting pledged to help. The European Commission had said Wednesday it was providing more than $12 million for drugs and clean water while the International Red Cross was also releasing more funds to deal with cholera in Zimbabwe.

"We need to pool our resources together and see how best we can respond to this emergency," Agostinho Zacarias, the U.N. Development Program director in Zimbabwe, was quoted as saying.

Zimbabwe has been paralyzed since disputed elections in March. President Robert Mugabe and the opposition are wrangling over a power-sharing deal.

The country is suffering from the world's highest inflation and Zimbabweans face daily shortages of food and other basic goods. source

Court ruling brings down Thai government

2008-12-02T03:54:00.000-08:00

BANGKOK, Thailand – A court dissolved Thailand's top three ruling parties for electoral fraud Tuesday and temporarily banned the prime minister from politics, bringing down a government that has faced months of strident protests seeking its ouster.

The Constitutional Court ruling set the stage for thousands of protesters to end their weeklong siege of the country's two main airports, but also raised fears of retaliatory violence by supporters of the government, which could sink the country deeper into crisis and cripple its economy.

Protest leaders said a decision on whether to end the airport protests — and allow hundreds of thousands of stranded travelers to leave the country — would be made later Tuesday.

However, the government said the main Suvarnabhumi international airport in Bangkok will remain closed to passenger flights until Dec. 15, although the airport reopened to cargo flights Tuesday.

Members of the People's Alliance for Democracy, occupying Bangkok's Suvarnabhumi international airport, cheered and hugged after they heard news of the ruling.

"My heart is happy. My friends are very happy," said Pailin Jampapong, a 41-year-old Bangkok housekeeper choking back tears as she jumped up and down.

Government spokesman Nattawut Sai-kau said Prime Minister Somchai Wongsawat and his six-party ruling coalition would step down.

"We will abide by the law. The coalition parties will meet together to plan for its next move soon," he told The Associated Press.

Somchai had become increasingly isolated in recent weeks. Neither the army, a key player in Thai politics, nor the country's much revered king had offered him firm backing. Since Wednesday, he and his Cabinet had been working from the northern city of Chiang Mai, a government stronghold.

Somchai accepted the ruling with equanimity.

"It is not a problem. I was not working for myself. Now I will be a full-time citizen," he told reporters in Chiang Mai.

___

Source said

Thai army chief wants elections to end crisis

2008-11-26T05:30:00.000-08:00

BANGKOK, Thailand – Thailand's army commander urged protesters Wednesday to leave Bangkok airport and called for elections to end the country's political crisis after a day of chaos in which thousands of travelers were stranded.

A protest spokesman said new elections alone would not solve the crisis, calling for Prime Minister Somchai Wongsarat to resign unconditionally. He added that they would not leave the airport.

All flights were canceled and frustrated passengers bused to hotels, as protesters shut down Suvarnabhumi Airport in a major escalation of their four-month campaign to oust Somchai.

"The government should give the public a chance to decide in a fresh election," Gen. Anupong Paochinda said at a news conference after meeting with high-level government officials, academics, economists and security officials.

Somchai returned to Thailand on Wednesday from a summit in Peru, but there was no response from the government to the army chief's call for new elections.

However, government spokesman Nattawut Sai-gua said, based on the prime minister's previously stated positions, "it is unlikely he will change his position by resigning or dissolving Parliament."

He stressed that he had not spoken to the prime minister since Somchai landed. Somchai is expected to speak later Wednesday night.

The protest group, the People's Alliance for Democracy, known as the PAD, appears intent on forcing the military to intervene and bring down the elected regime.

"We sympathize with the passengers but this is a necessary move to save the nation," top protest leader Sondhi Limthongkul said on a makeshift stage at the besieged airport amid resounding applause. "If he doesn't resign, I will not leave."

Suriyasai Katasila, a spokesman for the alliance, added later that the group would also continue to hold the other two locations they have overrun, the prime minister's office compound and another airport.

He added: "Dissolving the Parliament does not solve the problem.... We do not want Somchai's government, even as acting government before a fresh election is called."

By late afternoon, most of the 4,000 travelers, some who had been camped out since the night before, had left, a Thai tourism official said.

That left the protesters, a sea of matching yellow shirts, and they appeared to be settling in for the long haul.

They spread blankets on the floor, used luggage trolleys to carry boxes of water around the sprawling terminal and set up stands selling food and the plastic hand-clappers they use at rallies.

There was no word on when flights might resume. The U.S. Embassy advised Americans to stay away from the airport, while the Philippines and Singapore recommended that nonessential travel to Thailand be canceled.

Tempers frayed at sprawling Suvarnabhumi Airport, a major hub in Asia that averages 700 flights a day.

"I understand nothing, nothing, nothing," said French tourist Denis Hapard. "We don't understand what's happening. We're really upset."

Among those stranded were Americans trying to get home for the Thanksgiving holiday on Thursday.

Cheryl Turner, 63, of Scottsdale, Arizona, had asked neighbors to pull an 18-pound turkey from her freezer a day ahead of time to defrost so she could cook it for a traditional Thanksgiving dinner.

"My turkey is sitting in the sink at home," she said.

Protesters distributed flyers trying to explain their action.

After reading the flyer, Clay Judd, 30, of Jackson Hole, Wyoming, said he didn't know what to make of the situation.

"For us to be upset because we can't have a huge turkey dinner — so what?" Judd said, waiting in a crowd inside the terminal to get bused to a hotel.

Support for the protesters has been waning, and the group appears to be edging toward bigger confrontations — involving fewer though more aggressive followers — to challenge the government.

Early Wednesday, assailants threw four explosives at anti-government demonstrators, including one targeting a group about a half-mile (one kilometer) from the airport.

A second was tossed into a crowd of anti-government supporters gathered at the domestic Don Muang airport, injuring three others, police said. Two other explosives were thrown in Bangkok, but no one was injured. It is unclear who staged the attacks.

The bold takeover — carried out while the prime minister was abroad — raised the stakes in a standoff that has seen a spike in violence in recent days and has given the tourism-dependent country a massive black eye.

Airport director Serirat Prasutanont, who had tried to negotiate with the protesters to allow passengers to fly out, said the takeover "damaged Thailand's reputation and its economy beyond repair."

The airport, the 18th-busiest in the world, handled over 40 million passengers in 2007.

Demonstrators had swarmed the international airport overnight, breaking through police lines and spilling into the passenger terminal.

Group Capt. Chokchai Saranon, a control tower official, said 50 masked protesters armed with metal rods demanded to enter the control tower Wednesday, seeking the prime minister's flight schedule. Three were allowed in, but with flights canceled, there were no controllers to provide the information and the protesters eventually left.

The People's Alliance for Democracy has been trying to topple Somchai, accusing him of being the puppet of a predecessor, billionaire Thaksin Shinawatra, who was convicted of corruption and other charges. The alliance said protesters would keep the airport closed until Somchai quits.

The alliance has staged a number of dramatic actions in recent months. It took over the prime minister's office in late August and twice blockaded Parliament — one time setting off street battles with police that left two people dead and hundreds injured.

The airport blockade is a fresh blow to Thailand's $16 billion-a-year tourism industry, already suffering from months of political unrest and the global financial crisis.

"We don't have an estimate of financial loss, but it is greatly damaging," said Vijit Naranong, honorary chairman of Tourism Council of Thailand.

___

Associated Press writers Ambika Ahuja, Jocelyn Gecker and Michael Casey contributed to this report.

news source

Obama to name Geithner, Summers to economic postsNEW YORK – President-elect Barack Obama will announce the leaders of his economic team Monday, naming

2008-11-22T22:59:00.000-08:00

NEW YORK – President-elect Barack Obama will announce the leaders of his economic team Monday, naming Timothy Geithner as treasury secretary and Lawrence Summers to direct the National Economic Council, transition officials said.

If confirmed by the Senate, Geithner, 47, president of the New York Federal Reserve, would be the top Cabinet official in charge of leading the administration's response to the global economic crisis. Word of his likely selection Friday helped send the Dow Jones Industrials soaring 500 points after several days of steep losses.

One top Democrat said John Podesta, a leader of Obama's transition team, had told Senate aides on Friday that Obama hoped for speedy confirmation so the new administration could get to work quickly thereafter.

Geithner (pronounced GITE-ner) served as a Treasury Department official during the Clinton administration, where he played a major role in negotiating assistance packages for South Korea and Brazil.

Summers, 53, a former treasury secretary under President Bill Clinton and one-time president of Harvard University, will advise Obama from the White House. Officials said he would coordinate the federal response to the economic meltdown across several agencies, including a plan Obama announced Saturday to create or save 2.5 million jobs by rebuilding infrastructure and modernizing schools while developing alternative energy sources and more efficient cars.

During the Clinton administration, Summers helped craft the U.S. support program for Mexico during its 1995 financial crisis. He later helped lead the U.S. response to the Asian financial crisis of 1997.

Geithner and Summers were scheduled to appear with Obama at a press conference in Chicago Monday morning.

The announcement comes as Obama moves quickly to fill slots for his incoming administration. On Saturday, he named longtime spokesman Robert Gibbs as White House press secretary.

Ellen Moran will be director of communications in charge of getting Obama's message out. Her deputy in the White House will be Dan Pfeiffer, the communications director for Obama's presidential transition team.

In other positions, Obama is virtually certain to offer Congressional Budget Office chief Peter Orszag the job of directing the White House Office of Budget and Management, and Orszag is likely to accept, Democratic officials said Saturday.

New York Sen. Hillary Rodham Clinton also is in line to become secretary of state, while Obama's choice for attorney general is Eric Holder. He held the No. 2 slot in the Justice Department in President Bill Clinton's administration.

Officials said New Mexico Gov. Bill Richardson had emerged as a likely pick as commerce secretary, although he had hoped to be secretary of state. Like Clinton, he was a rival of Obama's for the Democratic presidential nomination last winter. He dropped out after the early contests, though, and soon threw his support behind the eventual winner. The officials spoke only on condition of anonymity because they were not authorized to publicly discuss the anticipated appointments.

The president-elect has largely stayed out of public view since his election on Nov. 4, preferring to work quietly with aides and Vice President-elect Joe Biden in a suite of offices in downtown Chicago.

Obama faces unusual challenges and has moved quickly in assembling his team. Former President George H.W. Bush made his first Cabinet pick the day after his election in 1988, but former President Clinton did not name any members until after Thanksgiving. President George W. Bush's transition was delayed by the contested result in Florida.

While speculation has been rampant about most top-level appointments, there has been relatively little about Obama's choice for defense secretary. His aides encouraged speculation before the election that Robert Gates, who now holds the position, would remain in office for an interim period.

Former Senate Majority Leader Tom Daschle of South Dakota has been chosen as secretary of health and human services and Arizona Gov. Janet Napolitano is likely to be named as secretary of the Homeland Security Department.

Napolitano was an early supporter of candidate Obama among the ranks of Democratic governors, as was Kathleen Sebelius of Kansas. Sebelius has figured prominently in recent days in speculation as possible secretary of labor.

Additionally, retired Gen. James Jones, a former Marine Corps commandant and NATO commander, was among those under consideration for national security adviser. James Steinberg, an Obama campaign aide who served in Clinton's White House, was another possibility, according to officials.

Obama has repeatedly referred to the economic crisis as the top priority for his new administration.

Geithner held posts in the Treasury Department under three administrations and five secretaries before moving to the New York Fed in 2003. He also held positions at the International Monetary Fund and was employed at the private firm of former Secretary of State Henry Kissinger. source

Bolante son seeks father’s house arrest

2008-11-20T17:23:00.000-08:00

Bolante son seeks father’s house arrest

MANILA, Philippines -- The son of former agriculture undersecretary Jocelyn "Jocjoc" Bolante has asked the Court of Appeals to allow his father to be placed under house arrest.

In his omnibus motion and compliance report, Owen Vincent Bolante told the appeals court that pending its decision on the petition for habeas corpus he filed on behalf of his father, the former agriculture official be placed under house arrest instead of being detained at the Senate.

The young Bolante also submitted a compliance certificate from his father’s doctor, Dr. Romeo Saavedra, that the former official was confined at St. Luke’s Medical Center from October 28 to November 8.

It also indicated the medical examinations conducted on Bolante and their results.

In his petition, Owen Bolante claimed his father's detention is unlawful and his immediately release is necessary.

He said the arrest order issued by the 13th Senate in 2005 is no longer valid because the chamber is not a continuing body.

Bolante added that while the Senate has the power to cite in contempt and order the arrest of individuals, this power is not absolute.

He said at present, the Senate is not conducting any inquiry and is not even in session. source

Five oil firms to roll back prices by P1/liter on Thursday

2008-11-19T15:03:00.000-08:00

With the continued drop in world oil prices, five oil companies announced a price rollback for their petroleum products on Wednesday.

The price reductions will take place Thursday.

The five oil firms - Eastern Petroleum, Petron Corporation, Pilipinas Shell Petroleum Corporation, Total Philippines Corp., and PTT Philippines - said they will reduced the price of their gasoline, kerosene and diesel by P1 per liter.

Petron, announced it will also roll back oil prices for its liquefied petroleum gas (LPG) rates by P2 per kilogram.

Petron, Eastern Petroleum and Shell said the price rollback will take effect 12:01 am of Nov. 20 while PTT and Total said it will impose the rollback 6 a.m. of Thursday.

Peso affects rollback

Fernando Martinez, president of Eastern Petroleum and head of the Independent Philippine petroleum Companies Association (IPPCA) said the decline in the prices of crude in the international market is seen to reflect in "an across the board P1 per liter rollback".

"We have to give this rollback," Martinez said in a telephone interview adding that the P1 price cut this weekend will bring to P8 the total rollback implmented by the oil firms for this week.

"If no one will roll back (their prices), I will definitely implement the rollback," Martinez added.

He also noted that had it not been for the peso depreciation, the rollback could have even be higher at P5 per liter.

Energy Secretary Angelo Reyes said the continued drop in the world oil prices should also result in the decline in the domestic prices and this should also cover until next month.

Monitoring conducted by the Department of Energy indicated that as of Nov. 17, 2008, the average Dubai crude, dropped to US$54 per barrel from October average of US$ 67.

Unleaded gasoline based on Mean of Platts Singapore, price gauge of oil importers, also went down to US$ 54 per barrel as against the US$ 80 per barrel average price last month.

MOPS for diesel prices similarly dropped to US$ 78 per barrel in Nov. 17 from US$ 89 last month.

Not enough

While the recent pump price rollbacks are welcomed, “these are still not enough," said Socioeconomic Planning secretary Ralph G. Recto said, echoing a similar call by the Department of Energy (DOE).

“In our estimate at National Economic and Development Authority (NEDA), the pump prices of gasoline should now be at P35.86 per liter and diesel at P31.77 per liter based on Dubai crude oil prices of $56.00/bbl," Recto, who is also NEDA's director general, said.

At $67/bbl of Dubai crude using the same exchange rate, Recto said gasoline should be about P40.86 per liter while diesel at about P35.22 per liter. As of November 8, the DOE monitored the average retail price of gasoline at P43.96 per liter while diesel stood at P40.94 per liter at an exchange rate of P48.54 to the US dollar.

“It is important to be mindful of the actions of the oil companies because every peso rollback counts for the ordinary Filipino consumer as this should translate into lower prices of transportation, food, and other commodities," the NEDA chief said.- with Aie Balagtas See, GMANews.TV

Indian navy destroys pirate boat, more ships taken

2008-11-19T04:44:00.000-08:00

MOGADISHU (Reuters) – An Indian warship destroyed a pirate ship in the Gulf of Aden and gunmen from Somalia seized two more vessels despite a large international naval presence off their lawless country.

The buccaneers have taken a Thai fishing boat, a Greek bulk carrier and a Hong Kong-flagged ship heading to Iran since Saturday's spectacular capture of a Saudi supertanker carrying $100 million of oil, the biggest ship hijacked in history.

The explosion of piracy off Somalia this year has driven up insurance costs, made some shipping companies divert around South Africa and prompted an unprecedented military response from NATO, the European Union and others.

"The pirates are sending out a message to the world that 'we can do what we want, we can think the unthinkable, do the unexpected'," Andrew Mwangura, coordinator of the East African Seafarers' Assistance Program, told Reuters in Mombasa.

India's navy said one of its warships, INS Tabar, fought Somali pirates in the Gulf of Aden and destroyed their vessel after a brief battle late Tuesday.

"Fire broke out on the vessel and explosions were heard, possibly due to exploding ammunition that was stored on the vessel," the navy said, adding that two speed boats sped away.

The International Maritime Bureau said pirates from the Horn of Africa nation had hijacked a Thai fishing boat with 16 crew. That followed the capture of a Hong Kong-flagged ship carrying grain bound for Iran.

Mwangura's group said a Greek bulk carrier had also been seized, but an official at Greece's Merchant Marine Ministry told Reuters in Athens that no such incident had been recorded.

The sharp increase in attacks at sea this year off the poor and chaotic country has been fueled by a growing Islamist insurgency onshore -- gun battles broke out again in Mogadishu Wednesday -- and the lure of multi-million-dollar ransoms.

Somalia's Prime Minister Nur Hassan Hussein told Reuters naval patrols would not stop piracy and appealed for more help to tackle criminal networks with links beyond his country.

No ransom has been demanded so far for the Saudi supertanker Sirius Star, which the pirates seized after dodging international naval patrols in their boldest strike yet.

A spokesman for the owners, Saudi Aramco, said the company hoped to hear from the hijackers later Wednesday. One Somali website said the attackers were demanding $250 million.

The Sirius Star was seized 450 nautical miles southeast of Mombasa, far beyond the gangs' usual area of operations. It was believed to be anchored near Eyl, a former Somali fishing village that is now a well-defended pirate base.

TANKER SPOTTED

"Eyl residents told me they could see the lights of a big ship far out at sea that seems to be the tanker," Aweys Ali, chairman of Somalia's Galkayo region, told Reuters by telephone.

Local officials said it had been sighted further south on Tuesday near Haradheere, in Mudug central region.

The Sirius held as much as 2 million barrels of oil, more than a quarter of Saudi Arabia's daily exports, and had been heading for the United States via the Cape of Good Hope.

More of the world's big shipping firms are diverting their fleets via the Cape, experts say. But there is little evidence that big oil tanker firms carrying most of the world's crude are avoiding the Suez Canal, although many are expressing deep disquiet about Somali pirate activity.

Somali gunmen are believed to be holding about a dozen ships in the Eyl area and more than 200 hostages. Among those vessels is a Ukrainian ship loaded with 33 tanks and other weapons that was captured in another high-profile strike earlier this year.

Chinese state media said Wednesday a Hong Kong cargo ship taken in September had been freed and all 25 crew were safe.

The Sirius Star was seized despite an international naval effort, including by NATO, to guard one of the world's busiest shipping routes. Warships from the United States, France, Russia and India are stationed off Somalia.

But experts say deep pessimism over the prospects of any peace process onshore, bitter memories of disastrous past interventions, and the need to put out fires elsewhere -- from Afghanistan to Congo -- have snuffed out any real will to act.

"There are no discussions in NATO on dealing with what is the root cause -- which is political instability," an alliance spokesman said of the Islamist insurgency.

Given that the pirates are well armed with grenades, heavy machineguns and rocket-launchers, most foreign navies have steered clear of direct confrontation once ships have been hijacked, for fear of putting hostages at risk. In most cases, the owners of hijacked ships are trying to negotiate ransoms.

British Royal Navy Commodore Keith Winstanley, deputy commander of the Combined Maritime Forces in the Middle East, said coalition forces could not be everywhere.

"The pirates will go somewhere we are not," he told shipping weekly Fairplay, part of Jane's Information Group. "If we patrol the Gulf of Aden then they will go to Mogadishu. If we go to Mogadishu, they will go to the Gulf of Aden."

Tiny, long-lost primate rediscovered in Indonesia

2008-11-18T23:38:00.000-08:00

WASHINGTON (Reuters) – On a misty mountaintop on the Indonesian island of Sulawesi, scientists for the first time in more than eight decades have observed a living pygmy tarsier, one of the planet's smallest and rarest primates.

Over a two-month period, the scientists used nets to trap three furry, mouse-sized pygmy tarsiers -- two males and one female -- on Mt. Rore Katimbo in Lore Lindu National Park in central Sulawesi, the researchers said on Tuesday.

They spotted a fourth one that got away.

The tarsiers, which some scientists believed were extinct, may not have been overly thrilled to be found. One of them chomped Sharon Gursky-Doyen, a Texas A&M University professor of anthropology who took part in the expedition.

"I'm the only person in the world to ever be bitten by a pygmy tarsier," Gursky-Doyen said in a telephone interview.

"My assistant was trying to hold him still while I was attaching a radio collar around its neck. It's very hard to hold them because they can turn their heads around 180 degrees. As I'm trying to close the radio collar, he turned his head and nipped my finger. And I yanked it and I was bleeding."

The collars were being attached so the tarsiers' movements could be tracked.

Tarsiers are unusual primates -- the mammalian group that includes lemurs, monkeys, apes and people. The handful of tarsier species live on various Asian islands.

As their name indicates, pygmy tarsiers are small -- weighing about 2 ounces (50 grammes). They have large eyes and large ears, and they have been described as looking a bit like one of the creatures in the 1984 Hollywood movie "Gremlins."

They are nocturnal insectivores and are unusual among primates in that they have claws rather than finger nails.

They had not been seen alive by scientists since 1921. In 2000, Indonesian scientists who were trapping rats in the Sulawesi highlands accidentally trapped and killed a pygmy tarsier.

"Until that time, everyone really didn't believe that they existed because people had been going out looking for them for decades and nobody had seen them or heard them," Gursky-Doyen said.

Her group observed the first live pygmy tarsier in August at an elevation of about 6,900 feet.

"Everything was covered in moss and the clouds are right at the top of that mountain. It's always very, very foggy, very, very dense. It's cold up there. When you're one degree from the equator, you expect to be hot. You don't expect to be shivering most of the time. That's what we were doing," she said. source

Electing Cebu leaders with sustainable views

2008-11-18T21:00:00.000-08:00

BY: Antonio V. Osmeña

INSTEAD of merely criticizing, an increasing number of Cebuanos who are fed up with waiting for government to act wants our politicians to redefine politics.

For example, a growing number of citizens are disgusted with elected officials who continue to argue over the use of provincial lots in Cebu City. They wish the public officials would implement their plans accordingly instead of magnifying the issue to the public. Many citizens are now more concerned about the elected officials’ way of politics.

Today, politics can be as much concerned with how you live your life as with what you think about national security issues

or energy policy. We now expect leaders to emphasize long-term planning with all short-time planning done in relation to intermediate and long-range goals. The elected official must talk about where we must go instead of where he or she has taken us.

Obviously, citizens love politics and politicians. Unfortunately, politicians who loved so much politics are having health problems. We have other types of politicians, though, like Mayor Eulogio Borres, Florentino Solon and many others who have learned to have the right attitude in curbing anxiety and stress in the environment of politics, and have remained healthy.

Majority of today’s citizens belong to the young generation and they expect that politics of the seemingly impossible or improbable is made possible by use of vision, cybernetic politics and outstanding leadership. They believe that politicians should be willing to propose solutions for complex and controversial problems instead of useless arguments.

A good leader operates openly to ensure maximum and accurate information flow to the people. For example, the property of Cebu Province along Gov. Manuel Cuenco Ave. in Banilad, leased by Ciudad to be developed into a multi-million commercial complex, was abruptly stopped by Mayor Tom Osmeña on the flimsy reason that the project would cause traffic congestion.

Mayor Tom should have assessed all technological solutions to determine possible long-range side effects of the traffic in Banilad. He should have determined how these solutions, as well as the quality of life in the area, would be affected by the Ciudad project.

Other Province-owned properties located in Cebu City have also been subjected to childish arguments between Gov. Gwen Garcia and Mayor Tom.

Political leadership should believe that in a finite world nearing its limit of resource availability, the problem of social justice must be solved by a more equitable distribution of wealth. Tenants who have failed to pay their monthly amortization for the provincial lots allotted to them might have lost trust in the previous administration so it might be lenient for Gov. Gwen Garcia to restructure their term of payment.

It must be strictly stipulated that only the original tenants and its direct heirs are entitled to such restructuring. Those tenants who have sold their rights should no longer be qualified to own the lot through restructuring.

Obviously, political leaders of today choose advisors who say only what he or she wants to hear. The citizens now insist that the best minds develop plans for projects and evaluate major alternatives.

Cebuanos have long realized that a free and accountable press is essential to uncover and prevent information blockage and distortion. They have recognized that politicians have seized or controlled the press in many countries. Our elected officials should operate openly to ensure maximum and accurate information flow to the people. The constant argument among elected officials is the use of secrecy to block information flow to the people.

The historic events now happening in United States should now send a clear message to our politicians to work together instead of squabbling over their political egos.

House Bill 5229 or the proposed Tourism Act of 2008 should provide politicians an ecosphere view. Political leaders should think in terms of preserving the ecosphere and our country’s resources for everyone now and in the future, as well as our foreign guests. Thinking about ecosphere loyalty is the only viable approach in the long run.

It is now urgent to evaluate growth on the basis of long-term ecosphere goals. A dynamic and sustainable economy for Cebu and the rest of the country is the only viable long-term goal.

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Gaza food shortage

2008-11-16T09:27:00.000-08:00

While Israel threatens renewed attacks, the residents of the Hamas controlled region face desperate conditions. Over one quarter of the residents of Gaza are living in the dark – and half (750,000) are now without food supplies due to a continuing blockade imposed by Israel beginning on November 6. Medical supplies are also in short supply and the lack of fuel means there is no power for water and sewage processing.

The UN, which distributes the food aid to 750,000 Palestinians in Gaza has had to close it's distribution centers:

In the Shati refugee camp, hundreds of people sought food at a U.N. distribution center but were disappointed. A note taped to the center's gate said handouts were put off until Dec. 13 "because of a lack of food to distribute."

Even without the new threat of large scale attacks, Oxfam is warning “that Gaza faces a humanitarian catastrophe unless Israel’s blockade is lifted:

"World leaders must step up and exercise all their political might to break the blockade of Gaza,” Oxfam’s executive director Jeremy Hobbs said. “As a matter of humanitarian imperative, Israeli leaders must resume supplies into Gaza without further delay.

source

Three months after merger, Sirius XM struggles

2008-11-10T05:30:00.000-08:00

DENVER - Barely three months after the long-delayed merger of satellite radio companies Sirius and XM, the newly combined Sirius XM Radio is struggling to stay afloat.

The company has just another three months to start paying down more than $1 billion in debt that's maturing in 2009 at a time when credit markets are freezing up. It remains heavily dependent on automobile sales for new subscriber additions just as U.S. car sales are tanking. And its stock price is in a yearlong free-fall that has sparked an investor lawsuit.

For the music industry, the fate of Sirius XM looms larger than before. Under a U.S. Copyright Royalty Board decision made last December, satellite radio broadcasters like Sirius XM pay performance royalties for sound recordings based on a percentage of adjusted gross revenue. That means the better Sirius XM does, the more money labels and publishers make.
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That rate currently stands at 6 percent and is set to increase by half a percentage point every year until 2012, when it will reach 8 percent. Neither SoundExchange — which collects those fees and distributes them on behalf of the music industry — nor Sirius XM will reveal exactly how much the company is paying in royalties. According to Sirius XM's quarterly reports, the company paid out a combined $92 million in revenue-sharing and royalty payments during the first half of 2008. That includes payments to SoundExchange and other partners, like equipment suppliers.

But while the music industry is poised to collect a growing percentage of Sirius XM's revenue, that revenue is in trouble. Subscription fees account for about 95 percent of Sirius XM's revenue. To increase income, the company needs to add subscribers and squeeze more revenue out of existing ones. The company reported 18.6 million subscribers as of June 30, up from 15.3 million for Sirius and XM combined a year earlier.

But Wall Street is deeply pessimistic about the road ahead. On Nov. 3, Merrill Lynch analyst Jessica Reif Cohen cut her previous forecast for net subscriber additions by almost 50,000 for the third quarter to 409,000 — which would represent a 51 percent smaller increase from the same period last year. She also cut her third-quarter revenue prediction for 2008 to $611 million, up from $528.8 million a year earlier but down $7 million from her previous forecast.

Slowing auto sales are driving some of the problems, since about half of Sirius XM's current subscribers — and about 80 percent of new subscriber additions in the second quarter — received satellite radios when they bought new cars.

A Sirius XM spokesman says that will be offset by an increase in the number of cars carrying its receivers as a factory-installed option. Its penetration rate among Mercedes-Benz vehicles, for example, is nearing 90 percent.

The company hopes to attract new subscribers by adding short-term, artist-specific channels dedicated to the likes of AC/DC and Led Zeppelin, which a representative hinted would be an ongoing initiative.

In the meantime, the company faces urgent financial challenges, in particular the $1.1 billion in debt that will mature in 2009, about $300 million of which is due in February. That, among other concerns, has caused the company's stock price to fall from a 52-week high of $3.94 per share last December to 26 cents on Friday. Meanwhile, a group of 500 shareholders dubbing themselves "Save Sirius" filed a lawsuit seeking to remove the board and CEO Mel Karmazin.

Ever the pitch man, Karmazin spoke at Nielsen and Dow Jones' Media and Money conference in October, insisting that Sirius XM is "one of the top 25 media companies today" and predicting that it will be "the most successful company in the audio entertainment industry."

Should that come to pass, the music industry stands to make a decent buck. But in the present, there's not much to count on. source

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USGS: 6.5-magnitude quake strikes northwest China

2008-11-09T19:38:00.000-08:00

BEIJING – A strong magnitude 6.5 earthquake struck remote northwestern China on Monday, the U.S. Geological Survey said. There were no immediate reports of casualties.

The quake struck the Qinghai province at a depth of 6.2 miles on Monday morning, the agency said. The USGS said the quake's epicenter was located 1,120 miles west of Beijing.

China's Earthquake Administration confirmed the earthquake, but said it had a magnitude of 6.3 on its scale. There were no immediate reports of casualties, said Zhang, a spokesman for the earthquake administration in Qinghai.

"We contacted the local authorities, but we are still investigating the situation for any damage or injuries," said Zhang, who gave only his surname as is common with Chinese officials.

China's far west is fairly earthquake-prone. A 7.9 magnitude earthquake on May 12 devastated parts of Sichuan province, just east of Tibet, killing 70,000 people and leaving 5 million homeless.

Basics of Starting a Home Bases Business

2008-11-09T02:39:00.000-08:00

The are multiple advantages to starting your own home based business. You can become independent or just attain particularlly further supplemental income. You property busines will create new tax deductions which you can take advantage of thereby reducing your taxable income. Your own industry can also create a sense of purpose and accomplishment for having created something of your own.

It really is fairly easy to get began and there are an endless number of resources out there to guide you through the process.

1. Decide how type of business interests you. This is the most difficult part of the process as you do not want to jump to anything and everything too quickly. Consider your interests and what things you are good at. You may decide on a help that you can provide which people will pay for. This might be front yard moving, photography, or house cleaning. Or you might be interested in a retail sales business. The Internet now makes it possible for just about everyone to start an online retail key in and the marketplace is global. By using the internet you can battle on a quantity playing field amidst huge companies. Are you a collector? Maybe you would enjoy selling select collectible items.

2. Develop a sector plan. This does not have to be complicated. Simply spit out down your plan for causing your economy work. Determine what you will sell, how you will market your business, who your potential customers will be, etc.

3. Decide on the name of your business. If you are going to and cr your business something other than your own legal name then you will be able to need to file a fictitious busines name statement amongst the local Recorders Office in your county.

4. Check with your county and state for local requirements for housing centered business. If you will be selling merchandise then you will need to get hold of the department of revenue for your state to craft a Retail Merchant Certificate or Sales Tax ID number. This will aide you to colect sales tax on merchandise sold.

5. Set up a separate bank account for the business. This will help you stay track of business revenue and expenses.

6. Set Aside an place in your home where you will work on your business. If you look for to be profitable you must treat your business like a business.

7. Work, Work , Work.

Starting a property business can be an incredible venture. It can also be a lot of work. Don't believe a single person who tells you so it is easy. When you are exploring tools for your home based boom you plans to come across a lot of opportunities for sale. Some of these types of could contain excellent information additonally others will be a rip off. Consider these proposals carefully and remember, if it sounds to good to be true - it probably is.

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CBCP head rejects Arroyo's call for ‘political ceasefire’

2008-11-09T02:00:00.000-08:00

MANILA, Philippines - The head of the Catholic Bishops Conference of the Philippines (CBCP) rejected over the weekend Malacañang's call for a political ceasefire, once again stressing that the issue was about corruption.

CBCP president and Jaro archbishop Angel Lagdameo said the call for a change in government that he and four other bishops made is not for political but for moral change.

"Kung ang ating sinasabi ay pagpuna sa mga maling gawain, hindi lang naman yan sa government kundi sa lahat na pati sa lahat ng antas or level ng ating society. Sapagkat ang corruption ay hindi lang naman nasa gobyerno kundi maging sa iba't-ibang antas ng ating society,” Lagdameo said over Church-run Radio Veritas.

(“Our calls against corruption apply not only to government but also to all sectors of society. Corruption is not only in government but also in many places in society.”)

Excerpts of the interview were posted Saturday on the CBCP website.

Lagdameo added what is needed is ceasefire on corruption currently plaguing not just in the government but in the society as a whole.

He said the uphill battle against corruption should continue and should not only be limited to government and political institutions.

President Arroyo earlier called for a "political ceasefire" amid left and right criticisms from the opposition, militant organizations and civil society groups.

She said the coming Yuletide season should encourage the Filipinos to "set aside personal differences and focus on improving the lives of the people."

Last week, Lagdameo and four bishops issued a statement calling for a radical form in government, which he said is already stricken by a social and moral cancer called corruption.

"Itong pagtalikod sa gawang masama, pagtalikod sa pagawa ng korupsyon, pagtalikod sa kasalanan, yan ay patuloy na dapat na gawin. Ang call for conversion, call for change of mind, conversion of mind, conversion of heart ay dapat ipagpatuloy hanggang makarating tayo ng langit," Lagdameo said.

(“Turning your back on evil and corruption should be done. This is a call for conversion of heart and mind.”)

But Lagdameo agreed with President Arroyo in saying there is a need for a ceasefire in politicking especially with the Christmas season just around the corner.

"Hindi lang dapat dahil sa nalalapit na ang Pasko. It should be for all times. Kinakailangan natin ay kapayapaan. Kinakailangan natin ay magandang pakikitungo at pakikiisa," Lagdameo said.

(“The political ceasefire should not apply only during Christmas but the whole year round.”) - source

How much money is hiding in your house?

2008-11-08T05:14:00.000-08:00

Financial expert Farnoosh Torabi shows you how to find out if you're sitting on a gold mine. Literally.

The Computer
More than 15 million women post at least one blog entry a week, according to one 2008 study. If you're one of them, entice advertisers to your blog by suggesting products or adding a technical function -- two website traits desirable to advertisers, suggests Real Simple Real Life financial expert Farnoosh Torabi. Advertisers usually pay a CPM -- a rate based on 1,000 page views -- which can run from $10 to $20 per CPM.

The Closet
Sell retired handbags, scarves, and shoes to a consignment store. (A Prada messenger bag originally worth $500 could go for $150 on consignment.) To find a store near you, look under Consignment Services at auctionbytes.com. (Watch a video on How to Organize Your Closet.)

The Jewelry Box
Turn gold scraps -- one hoop that's missing its mate, a broken bracelet -- into cash. Go to sites like Kitco and Monex Precious Metals to figure out the value of gold and how to sell yours. (Watch a video on How to Organize Jewelry.)

The Bookshelf
Sites such as eBay, AddALL, and Bookfinder.com allow you to sell used books.

The Couch
A study by Coinstar, which operates coin machines in supermarkets, estimates that the average American family has about $90 in change lying around the house. So tip over that couch and watch the quarters fall out.

The Toy Chest
Your old My Little Pony collection could be worth hundreds of dollars on auction sites like eBay. (Farnoosh recently found a My Little Pony circa 1986 selling for $100 on it.) Check out the value of toys up for auction and see whether you have hidden treasure in your toy chest.

More from Real Simple:
Save Money When Dining Out
Save Money When Shopping
Savings Plan Checklist

Obama calls for swift action on economy

2008-11-07T14:50:00.000-08:00

CHICAGO – President-elect Obama assembled his economic team Friday and soberly told the nation that strong action is needed to confront "the greatest economic challenge of our lifetime."

In his first news conference since being elected Tuesday, Obama called on Congress to extend unemployment benefits and pass a stimulus bill. But his more ambitious remedies, he said, must wait until he takes office Jan. 20.

Obama displayed an air of authority and confidence, standing before a dozen economic advisers and rows of American flags as he spoke for 20 minutes. He mixed lighthearted remarks about family pets (even calling himself a "mutt") with grim-faced assessments of the nation's economic predicament.

"Some of the choices that we make are going to be difficult," he said, reading a statement before taking several questions. "It is not going to be easy for us to dig ourselves out of the hole that we are in. But America is a strong and resilient country."

Obama urged Congress to pass an economic stimulus measure and extend unemployment benefits either before or just after he takes office. As for bigger decisions, he said, the nation has "only one government and one president at a time," and now it is President Bush.

However, he said, "immediately after I become president, I will confront this economic crisis head-on by taking all necessary steps to ease the credit crisis, help hardworking families, and restore growth and prosperity."

"I'm confident a new president can have an enormous impact," he said.

Obama said he would focus on producing jobs, and he mentioned actions to help the auto industry, small businesses and state and local governments.

He left open the possibility that economic conditions might prompt him to change his tax plan, which would give a break to most families but raise taxes on those making more than $250,000 annually.

"I think that the plan that we've put forward is the right one," he said, "but, obviously, over the next several weeks and months, we're going to be continuing to take a look at the data and see what's taking place in the economy as a whole."

Obama said he will review a congratulatory letter from Iran's leader and respond appropriately. It's not something "that we should simply do in a knee-jerk fashion," he said. Obama said he wants to be careful to send the signal to the world that "I'm not the president and I won't be until Jan. 20."

He said he appreciated the cooperation Bush has offered in smoothing his transition to the White House and the president's "commitment that his economic policy team keep us informed." He expressed gratitude to Bush for inviting him and his wife, Michelle, to the White House on Monday.

Obama said he expected to have a substantive conversation with Bush. "I am not going to anticipate problems," he said.

As he prepares to join an exclusive club of presidents, Obama said, "I've spoken to all of them that are living."

"I didn't want to get into a Nancy Reagan thing about, you know, doing any seances," he said with a grin, an apparent exaggerated reference to the former first lady's fondness for astrology.

Also in a lighter vein, the president-elect said his family is looking for a dog that will not trigger his daughter Malia's allergies. Ideally, he said, it would come from an animal rescue shelter, "but obviously, a lot of shelter dogs are mutts like me."

He presumably was referring to his heritage: his father was from Kenya, his mother was from Kansas.

Obama and Biden met before the news conference with the transition economic advisory board, a high-powered collection of business, academic and government leaders. They included Lawrence Summers, who some have mentioned as a candidate for Treasury secretary, a post he held in the Clinton administration; Michigan Gov. Jennifer Granholm, whose state has been hit hard by losses in the auto industry; Google CEO Eric Schmidt; and former Federal Reserve Chairman Paul Volcker.

Others attending included executives from Xerox Corp., Time Warner Inc.; and the Hyatt hotel company. Investor Warren Buffett called in by telephone.

Obama has been meeting privately with his transition team, receiving congratulatory phone calls from foreign leaders and intelligence briefings, and making decisions about who will help run his government.

One person frequently mentioned for a Cabinet post, Pennsylvania Gov. Ed Rendell, will not be available until 2011, officials close to him said Friday. Rendell has two years left of his term, and Lt. Gov. Catherine Baker Knoll, a Democrat, is ailing. Next in line to be governor is the Republican president pro tempore the state Senate.

Rather than take the chance that the GOP would gain control of the governor's office, Rendell has signaled he will stay put for the time being.

On Friday morning, Obama and his wife, Michelle, attended a parent-teacher conference at the University of Chicago Lab School where their daughters, Malia and Sasha, are students.

Obama planned to stay home through the weekend, with a blackout on news announcements so he and his staff can rest after the grueling campaign. He is planning a family getaway to Hawaii in December before they move to the White House, and to honor his grandmother, Madelyn Dunham, who died Sunday at her home there. source

Haitian school collapses, at least 30 killed

2008-11-07T14:42:00.000-08:00

PORT-AU-PRINCE (Reuters) – A church school collapsed on the outskirts of Haiti's capital on Friday, killing at least 30 people and burying dozens under rubble, rescue workers said.

The three-story La Promesse school building collapsed while class was in session and some of the walls and debris crushed neighboring residences in the Nerettes community near Port-au-Prince.

"Thirty have already been killed and there are many others under the debris," said Philippine Army Maj. Donald Hongitan, who was among U.N. peacekeeping troops working with police to rescue survivors.

At the scene, crying and screaming parents searched desperately for their children while bodies of students lay crushed under blocks of concrete.

"It's like an earthquake," said Brazilian Maj. Gen. Carlos dos Santos Cruz, the commander for U.N. troops in Haiti.

One boy was trapped by debris that pinned his legs beneath the rubble. He begged the rescuers to "please cut my feet off," a firefighter told Reuters.

Police commissioner Carl Henry Boucher said more than 25 people had been hospitalized in very serious condition.

The roads around the school were so jammed with people looking for loved ones that some of the rescuers had to be brought in by helicopter.

"My son who is 15 years old, he's dead. He's my only son," sobbed 40-year-old Josiane Dandin. "I don't know what I'm going to do."

Another woman screamed for her missing 12-year-old daughter. "I don't know if she is dead or alive," she said.

More than 9,000 multinational troops and police currently make up a U.N. peacekeeping force sent to stabilize Haiti after its former president was driven out in a bloody rebellion in 2004.

The impoverished Caribbean nation lacks sophisticated rescue equipment. Haiti is still struggling with the destruction wrought by four tropical storms and hurricanes that hit in quick succession this year, killing more than 800 people and destroying 60 percent of the crop harvest.

"We don't have a number ... but it could be very high," CNN quoted Haitian Red Cross President Michaele Gedeon as saying when asked about the likely death toll.

"What we need right now is heavy search and rescue equipment."source

Yang 'disappointed' after Google deal collapses

2008-11-05T21:42:00.000-08:00

Jerry Yang, co-founder of Yahoo. Photograph: Frank Baron Yahoo chief executive Jerry Yang says he felt let down by Google's decision to pull out of a controversial advertising agreement between the two internet rivals. The $800m deal – which would have enabled Google to sell advertising on some parts of Yahoo's search engine listings - had been subject to a over potential antitrust concerns. However, despite recently renegotiating some of the terms to allay fears, Google that it would pull the...source

At least 40, including 12 kids, die as ferry sinks off Masbate

2008-11-04T08:39:00.000-08:00

(Update) MANILA, Philippines - An inter-island ferry packed with commuters overturned Tuesday while being buffeted by sudden monsoon winds and waves southeast of Manila, killing 40 people, officials said.

Maj. Gen. Jeffrey Sodusta, the regional army commander, said 76 people were rescued and taken to two hospitals for treatment after the MB Don Dexter Cathlyn was battered shortly after leaving port in central Masbate island for nearby Sorsogon province.

Masbate provincial police chief, Sr Supt Reuben Sindac, said that 40 bodies have been recovered, the last one that of a four-year-old boy.

"The recovery of the body of a four-year-old boy brings the number of fatalities to 40," Sindac told GMANews.TV in a phone interview.

At least 13 are believed missing but Sindac said that there may be more as they received reports that some were on board the boat but their names were not on the manifest.

The ship's manifest listed 119 passengers and a crew of six on board, though ferries frequently carry more people than are officially listed.

"We brought the dead to the plaza," said police senior inspector Arturo Estopare, police chief of Dimasalang town, about three miles (five kilometers) from the accident site.

The bodies were lined up and covered, with wailing people checking them for missing loved ones.

Sindac told Manila radio station DZBB that the ferry had been sailing in relatively clear weather.

Police officer Roy Almine, who helped in the rescue, said huge waves and strong monsoon winds suddenly hit the boat, causing it to overturn and tossing passengers into the sea.

"There was some kind of whirlwind," Sindac said. "There was no rain, no typhoon; the waters were calm when it happened.

"The ferry was not passenger-friendly. There were high railings and tarpaulin on the side so when the vessel overturned, these may have helped to trap the passengers."

Such accidents frequently happen in the Philippine archipelago due to tropical weather, badly maintained passenger boats and weak enforcement of safety regulations.

The typhoon-prone country was the scene of the world's worst peacetime maritime disaster when the ferry Dona Paz sank in 1987, killing more than 4,341 people.

In June, the 23,800-ton Princess of the Stars went belly up during a typhoon close to Romblon province, near Masbate, killing more than 800 people on board.

The discovery of several drums of toxic chemicals held up the retrieval of bodies inside the ship until last week. The chemicals have been removed by marine experts.

PO2 Bernardo Pajalla Jr of Masbate police identified the fatalities as of 10 p.m. as:

1. Michelle Ramirez, 1
2. Ritchinel Andaya, 3
3. Nathaniel Andaya, 6
4. Maricel Ornopia, 30
5. Silvina Gabriel, 58
6. Auria Pasas, 66
7. Rosalie Atabay, 26
8. Rosalina Atabay, 50
9. Crisilda Atabay, 7
10. Cizzia Atabay, 6
11. Joy-joy Atabay,6
12. In-in Nueva, 16
13. Grace Capellan, 48
14. Larganie Capellan, 5
15. Lean Capellan, 2
16. Teresita Abejuela, 40
17. John Paul Abejuela, 6
18. Nenita Matos, 36
19. Charlene Leastardo, 19
20. Jimmy Banaag, 22
21. Filipina Anman, 66
22. Ana Nerbis, 59
23. Consolacion Baybayon, 78
24. Lanie Mahinay, 18
25. Sonia Cordera, 40
26. Adelina Adobas, 74
27. Reynaldo Arcueno, 42
28. Jennifer Mantal, 34
29. Nerie Badillo, 44
30. Jessica Marsonia, 36
31. Benita Hermosa, 67
32. Olympio Blaso, 64
33. Rosalina Pilapil, 50
34. Marichu Apao, 5
35. Parcy Abenir, 6
36. Salud Abenir, 65
37. Rossie Belarmino, 57
38. Marilyn Lleness, 43
39. Christian Ramos, 4
40. Francisca Rondina, 50

source

Obama, McCain both promise change on election eve

2008-11-03T14:30:00.000-08:00

TAMPA, Fla. – Barack Obama radiated confidence and John McCain displayed the grit of an underdog Monday as the presidential rivals reached for the finish line of a two-year marathon with a burst of campaigning across battlegrounds from the Atlantic Coast to Arizona.

"We are one day away from change in America," said Obama, a Democrat seeking to become the first black president — a dream not nearly as distant on election eve as it once was.

McCain, too, promised to turn the page of the era of George W. Bush, and he warned about his opponent's intentions. "Sen. Obama is in the far left lane" of politics, he said. "He's more liberal than a guy who calls himself a Socialist and that's not easy."

Republican running mate Sarah Palin was even more pointed as she campaigned in Ohio. "Now is not the time to experiment with socialism," she said. "Our opponent's plan is just for bigger government."

Late-season attacks aside, Obama led in virtually all the pre-election polls in a race where economic concerns dominated and the war in Iraq was pushed — however temporarily — into the background.

Early voting, more than 29 million ballots cast in 30 states, suggested an advantage for Obama as well. Official statistics showed Democrats who have already voted outnumbered Republicans in North Carolina, Colorado, Florida and Iowa, all of which went for President Bush in 2004.

Democrats also anticipated gains in the House and in the Senate, although Republicans battled to hold their losses to a minimum and a significant number of races were rated as tossups in the campaign's final hours.

By their near-non-stop attention to states that voted Republican in 2004, both Obama and McCain acknowledged the Democrats' advantage in the presidential race.

The two rivals both began their days in Florida, a traditionally Republican state with 27 electoral votes where polls make it close.

Obama drew 9,000 or so at a rally in Jacksonville, while across the state, a crowd estimated at roughly 1,000 turned out for McCain.

One day before the election, no battleground state was left unattended.

But Virginia, where no Democrat has won in 40 years, and Ohio, where no Republican president has ever lost, seemed most coveted. Together, they account for 33 electoral votes that McCain can scarcely do without.

Democratic volunteers in Maryland, a state safe for Obama, called voters in next-door Virginia, where McCain trailed in the polls. The Democratic presidential candidate's visit to Virginia during the day was his 11th since he clinched the nomination.

Unwilling to concede anything, McCain's campaign filed a lawsuit in Richmond seeking to force election officials to count late-arriving ballots from members of the armed forces overseas. No hearing was immediately scheduled.

Several hundred miles away in Ohio — the state that sealed Bush's second term in 2004 — voters waited as long as three hours in line to cast ballots in Columbus, part of heavily contested Franklin County. Poll workers handed out bottles of water to sustain them.

Lori Huffman, 38, a supervisor at UPS Inc., took the day off to vote early for her man, McCain. "It's exciting isn't it?" she asked, gesturing toward the long line of waiting voters.

"This is happening all over the state, from Cleveland to Dayton," said Gov. Ted Strickland, a Democrat trying to deliver his state to Obama.

Obama hoped so, after more than a year building an elaborate get-out-the-vote operation, first for the primary campaign, now for the general election.

The Democrat flew from Florida to North Carolina to Virginia, all states that went Republican in 2004, before heading home to Chicago on Election Eve.

Twenty-one months after he launched his campaign, he allowed, "You know. I feel pretty peaceful ... I gotta say."

On a syndicated radio program, the Russ Parr Morning Show, he said, "The question is going to be who wants it more," he added. "And I hope that our supporters want it bad, because I think the country needs it."

If wanting it were all that mattered, the race would be a toss-up.

McCain, behind in the polls, set out on a grueling run through several traditionally Republican states that he has failed to secure. Florida, Virginia, Indiana, New Mexico and Nevada were on his itinerary, as was Pennsylvania, the only state that voted Democratic in 2004 where he still nursed hopes. His last appearance of the long day, past midnight, was a home state rally in Prescott, Ariz. Obama has been running television commercials in Arizona in the campaign's final days.

The surrogate campaigners included Sen. Hillary Rodham Clinton for the Democrats and former Massachusetts Gov. Mitt Romney for the Republicans. Both lost races for their party's presidential nomination earlier in the year, and both could be expected to try again if their ticket loses the White House.

Not so, President Bush.

Deeply unpopular, the man who won the White House twice was out of public view, an effort to help McCain.

Palin was racing through five Bush states Monday — Ohio, Missouri, Iowa, Colorado and Nevada — in an effort to boost conservative turnout for McCain. The Alaska governor has been a popular draw for many GOP base voters, and already, there was speculation about a future national campaign should Republicans lose in 2008.

Joe Biden, Obama's running mate, campaigned in Missouri, Ohio and Pennsylvania. "We are on the cusp of a new brand of leadership," he assured supporters.

Biden didn't say so, but he was as close to guaranteed a victory as any politician in America. Whatever the fate of the Democratic presidential ticket, he was heavily favored to win a new Senate term from Delaware on Tuesday. source

Obama's grandmother dies a day before election

2008-11-03T14:27:00.000-08:00

HONOLULU – Barack Obama's grandmother, whose personality and bearing shaped much of the life of the Democratic presidential contender, has died, Obama announced Monday, one day before the election. Madelyn Payne Dunham was 86. Obama announced the news from the campaign trail in Charlotte, N.C. The joint statement with his sister Maya Soetoro-Ng said Dunham died peacefully late Sunday night after a battle with cancer.

They said: "She was the cornerstone of our family, and a woman of extraordinary accomplishment, strength, and humility. She was the person who encouraged and allowed us to take chances."

Obama learned of her death Monday morning while he was campaigning in Jacksonville, Fla. He planned to go ahead with campaign appearances.

The family said a private ceremony would be held later.

Last month, Obama took a break from campaigning and flew to Hawaii to be with Dunham as her health declined.

Obama said the decision to go to Hawaii was easy to make, telling CBS that he "got there too late" when his mother died of ovarian cancer in 1995 at 53, and wanted to make sure "that I don't make the same mistake twice."

The Kansas-born Dunham and her husband, Stanley, raised their grandson for several years so he could attend school in Honolulu while their daughter and her second husband lived overseas. Her influence on Obama's manner and the way he viewed the world was substantial, the candidate himself told millions watching him accept his party's nomination in Denver in August.

"She's the one who taught me about hard work," he said. "She's the one who put off buying a new car or a new dress for herself so that I could have a better life. She poured everything she had into me."

Obama's nickname for his grandmother was "Toot," a version of the Hawaiian word for grandmother, tutu. Many of his speeches describe her working on a bomber assembly line during World War II.

Madelyn and Stanley Dunham married in 1940, a few weeks before she graduated from high school. Their daughter, Stanley Ann, was born in 1942. After several moves to and from California, Texas, Washington and Kansas, Stanley Dunham's job landed the family in Hawaii.

It was there that Stanley Ann later met and fell in love with Obama's father, a Kenyan named Barack Hussein Obama Sr. They had met in Russian class at the University of Hawaii. Their son was born in August 1961, but the marriage didn't last long. She later married an Indonesian, Lolo Soetoro, another university student she met in Hawaii.

Obama moved to Indonesia with his mother and stepfather at age 6. But in 1971, her mother sent him back to Hawaii to live with her parents. He stayed with the Dunhams until he graduated from high school in 1979.

In his autobiography, Obama wrote fondly of playing basketball on a court below his grandparents' 10th-floor Honolulu apartment, and looking up to see his grandmother watching.

It was the same apartment Obama visited on annual holiday trips to Hawaii, a weeklong vacation from his campaign in August, and his pre-election visit in October. Family members said his grandmother could not travel because of her health.

Madelyn Dunham, who took university classes but to her chagrin never earned a degree, nonetheless rose from a secretarial job at the Bank of Hawaii to become one of the state's first female bank vice presidents.

"Every morning, she woke up at 5 a.m. and changed from the frowsy muumuus she wore around the apartment into a tailored suit and high-heeled pumps," Obama wrote.

Obama warns of more attacks to come

2008-11-01T01:59:00.000-07:00

WASHINGTON — Democrat Barack Obama held onto his solid lead in the polls and appeared confident of capturing the US presidency in the historic race, but steeled his supporters for a crescendo of vicious attacks in the final hours of the campaign.

With just four days to go after a marathon contest, the Obama campaign went on the offensive in several solidly Republican states Friday. Democrats announced they would air television ads in Georgia, North Dakota and even Arizona, which Republican John McCain has represented in the US Senate for 22 years.

"We are four days away from changing the United States of America," Obama told voters Friday night in Indiana, one of about a half-dozen Republican states remain up for grabs late this election season.

The underdog McCain, meanwhile, spent a second day touring Ohio in his "Straight Talk Express" bus, and appeared with California Gov. Arnold Schwarzenegger, a fellow Republican, in a last-ditch effort to win a state critical to his hopes for victory.

No Republican has ever been elected president without winning Ohio, but McCain trails in the polls there by a wide margin.

"We're closing, my friends, and we're going to win in Ohio," McCain said during a stop in the state Friday. "We're a few points down but we're coming back and we're coming back strong."

McCain's campaign argued that he was closing the gap in the final days and that he was closer than reflected than in public polling. Privately, McCain's aides said he trailed Obama by 4 points nationwide in internal polling.

An Associated Press-Yahoo News poll of likely voters put the Democrat well ahead nationwide, 51 to 43, with a margin of error of plus or minus 3 percentage points.

The same survey gave McCain reason to hope — one in seven voters, 14 percent of the total — said they were undecided or might yet change their minds.

But McCain may be running out of time to turn the tide.

Obama, who is seeking to become the first black US president, has tapped public concern about two long-running US wars abroad and a faltering economy at home.

He has also raised hundreds of millions of dollars more than McCain for his campaign.

McCain and his supporters have fought back by accusing Obama of associating with radicals, advocating surrender in Iraq and supporting socialist economic policies.

"Sen. Obama's economic policy is from the far left of American politics and ours is in the center," McCain said Friday on ABC's "Good Morning America" television program.

In Iowa, Obama accused the Republicans of practicing "slash and burn, say-anything, do-anything politics that's calculated to divide and distract; to tear us apart instead of bringing us together."

He said he admired a presidential candidate who said in 2000: "I will not take the low road to the highest office in this land."

"Those words were spoken eight years ago by my opponent, John McCain," Obama said. "But the high road didn't lead him to the White House then, so this time, he decided to take a different route."

Despite this, Obama later told CNN that, if he is elected, he would consider appointing McCain to "any position ... where I thought he was going to be the best person for our country."

As part of McCain's effort to capture Ohio, McCain hosted Schwarzenegger — the former bodybuilder and actor who played the lead in the "Terminator" series of Hollywood blockbusters — at a rally in the city of Columbus Friday afternoon, where he offered to help the lanky Obama beef up his "skinny legs" and "scrawny little arms."

"John McCain has served his country longer in a POW camp than his opponent has in the United States Senate," the Austrian-born politician said. "I only play an action hero in the movies. John McCain is a real action hero."

McCain's campaign said the candidate would appear Saturday on the late-night comedy show, "Saturday Night Live."

The satirical program has bolstered its ratings in recent months by lampooning McCain's choice for the Republican vice presidential candidate, Alaska Gov. Sarah Palin, who is bidding to become America's first woman vice president.

Both McCain and Obama are expected to appear at half time on a nationally televised American football game Monday night.

But nationwide appeals may matter less, in the end, then the grueling chess game of state-by-state campaigning that marks US presidential contests.

Under the US system, the president is not elected by direct popular vote nationwide. Instead, the successful candidate must win 270 out of 538 electoral votes in what amounts to a state-by-state contest. Electoral votes are allocated to each state roughly according to population.

McCain has won come-from-behind political contests before. But his campaign has struggled throughout the fall, plagued by internal bickering and divisions in the party ranks.

In an interview Thursday with National Public Radio, Lawrence Eagleburger, a former secretary of state and prominent McCain supporter, who said Palin isn't prepared to take over as president in a crisis.

He added that she could eventually become "adequate." He later apologized for the comments.

Palin campaigned Friday in Pennsylvania, where she charged that Obama represented the "far left wing" of the Democratic party and had an ideological commitment to raising taxes.

Obama is proposing tax increases on families making over $250,000 and individuals making over $200,000 and tax cuts for the 95 percent of workers making less than $200,000.

The Democrats' vice presidential candidate, US Sen. Joe Biden, told a crowd in Delaware that history will judge the Bush administration harshly for failing to build a strong economy and to unite the world against global terrorism.

"The Bush legacy, the one that John McCain wants to continue, is an America where we are divided from each other, a nation divided from the world," Biden said.

Obama planned final get-out-the-vote rallies in Nevada, Colorado and Missouri Saturday. He was scheduled to campaign in Ohio all day Sunday, including a Cleveland rally with singer Bruce Springsteen, then hit Virginia and Florida on Election Eve.

McCain had eight states on his final three-day itinerary besides the detour to New York City for "Saturday Night Live," hosted by Obama supporter Ben Affleck. Monday's schedule called for him to visit several states, ending with a midnight rally in his home state of Arizona where Obama was running television ads.

"We want to win everywhere," Obama said of his decision to air the commercials in his opponent's state. - AP

World shares head for worst month ever

2008-10-31T05:02:00.000-07:00

ONDON (Reuters) – Shares in Asia and Europe fell on Friday, heading for their worst month ever, while the low-yielding yen surged as Japan's interest rate cut failed to erase concerns about the deteriorating global economic outlook.

The Bank of Japan joined a global easing cycle by trimming interest rates by 20 basis points to 0.3 percent, but disappointed many who had expected a bigger quarter point cut.

The move followed the Federal Reserve's decision to cut interest rates to 1 percent -- its lowest level since June 2004 -- to stave off a prolonged recession. China, Hong Kong and Taiwan also lowered the cost of borrowing this week, with the euro zone, Australia and Britain seen following suit next week.

However, investors feared a round of rate cuts was not enough to stem the flow of worsening corporate earnings and bolster consumer consumption in major economies which might be already in recession.

In response, oil and commodities fell sharply.

"Volatility is the watchword today," said Adam Cole, global head of currency strategy at RBS Capital Markets. "The usual risk aversion plays will also come into play given losses in Asian shares." MSCI world equity index (.MIWD00000PUS) fell 0.9 percent. The index has fallen 21 percent this month, on track for its worst monthly performance in the index's 20-year history.

Asian stocks (.MIAPJ0000PUS) ticked down on the day and European stocks (.FTEU3) were down 0.7 percent. Both indexes also headed for their worst month ever.

U.S. crude oil fell 3 percent to $63.96 a barrel, falling all the way from its record high around $147 set only in July. Gold fell to $724.10 an ounce.

Emerging stocks (.MSCIEF) rose 0.4 percent. The December bund futures fell 30 ticks.

YEN, DOLLAR SURGE

The yen surged 1.7 percent to 96.98 per dollar even as the BOJ cut interest rates.

Risk-averse investors were chasing the low-yielding Japanese currency across the board, sending the yen up nearly four percent to 122.69 per euro.

The dollar (.DXY) rose 1.3 percent against a basket of major currencies.

"The gradual shift in market attention from credit issues to real economic concerns suggests that market stability and releveraging will be some months away," Calyon said in a note to clients.

"The economic news is set to worsen, implying only a very gradual easing in risk aversion in the months ahead and potentially negative feedback to credit markets. Against this background the dollar is set to remain firm."source

Chacha answer to bishops' call for change

2008-10-28T17:19:00.000-07:00

MANILA, Philippines - Malacañang insisted Wednesday on Charter change as the answer to Catholic bishops' call Tuesday for change in the system of government.

Press secretary and presidential spokesman Jesus Dureza said the Palace was "heartened" that even bishops now "realize" the need for systemic change that can be brought by Cha-Cha.

"We are also heartened even bishops realize kailangan may systemic change tayo, now, hindi bukas (We are heartened that even bishops realize the need for systemic change now, not tomorrow). Some changes in the system will have to be done. Ang pangulo (The president) was a very strong proponent of changes in the charter when she campaigned even for the presidency," he said in an interview on dwIZ radio.

He also said the changes in the 1987 Constitution should not only be economic but also be political.

Several groups had opposed Malacañang's moves to amend the Charter due to fears it may manipulate political changes to keep President Arroyo in power beyond 2010.

Under the present Constitution, the president will get only one six-year term and is not eligible to seek another term.

"May mga provision sa Constitution natin kailangan palitan natin, hindi economic provisions kailangan yung mga changes yan sa political system natin (There are provisions in the Constitution that we have to change, not just economic provisions. We also have to make changes in our political system)," Dureza said.

He also chided some Catholic bishops critical of the government for opposing Palace moves to amend the Constitution. "Hindi tayo umuusad eh (That's why we're not progressing)," he said. - GMANews.TV

Dow ends up almost 900, but no one is exhaling

2008-10-28T17:17:00.000-07:00

Wall Street's best day in two weeks — and one of its best ever — was a joyless rally. Even a manic, final-hour stampede of buying that sent the Dow Jones industrials soaring almost 900 points did nothing to dispel the feeling that the market could turn on investors in an instant.

But the extraordinary, lurching volatility that has gripped Wall Street since the financial meltdown began in mid-September meant there were no guarantees the rally would hold, not even for a few days.

Investors are expecting a cut in interest rates when the Federal Reserve announces its decision Wednesday. But they're also staring into an economic abyss, bracing for a recession of a depth no one knows for sure.

Any other day like this — the Dow and the Standard and Poor's 500 both rose almost 11 percent — might have ended with boisterous cheers and paper tossed into the air. On Tuesday, 4 p.m. came with meager applause.

"I don't think it will be a sustained move," said Matt King, chief investment officer at Bell Investment Advisors.

The Dow finished 889 points higher to close at 9,065. On Oct. 13, the Dow rose 936 points, its best ever; no other single-day rally has come close in terms of points to what happened Tuesday.

Analysts ventured a number of explanations for the sudden rally — including coming interest rate cuts, bargain hunting, a market desperate to find a bottom and the expectation that banks, at the urging of the White House, will quit hoarding money and start making loans.

"There is nothing fundamental that came out today or yesterday that would take it up or down. We're all groping for something meaningful to talk about," said Bob Andres, chief investment strategist at Portfolio Management Consultants. "The market is exhausted from going down."

The mood on Main Street is decidedly more pessimistic, and new data Tuesday showed Americans are more depressed than market analysts had expected.

The Conference Board's consumer confidence index plunged to the lowest level in its 41-year history in the wake of this month's financial meltdown, the sharp drop in home prices and increasing job losses.

The index fell to 38, down from a September reading of about 61 — the third-steepest monthly decline since the board started the measure in 1967. Analysts, way off the mark, had expected 52.

"It's the worst consumer environment since the 1981-1982 recession," said Adam York, an economist at Wachovia Corp. Americans believe "there's a very dire situation in the U.S. economy right now, and they're not far from being right," he added.

Financial market turmoil and falling housing prices have wiped out trillions of dollars of household wealth in recent months. The S&P 500 had fallen 27 percent in October, and 40 percent for the year, before Tuesday's jump.

In addition, companies cut 760,000 jobs in the first nine months this year, sending the unemployment rate to 6.1 percent last month. Many economists expect layoffs to continue and the unemployment rate to rise to 8 percent or higher in 2009.

After the last recession, in 2001, the unemployment rate rose as high as 6.3 percent in June 2003.

On Tuesday, Whirlpool Corp. said it will cut 5,000 jobs. That's on top of other recent layoffs of thousands of workers by Xerox Corp., drugmaker Merck & Co. Inc. and financial services firm National City Corp.

"The collapse in confidence is directly tied to perceptions about economic conditions and that is likely to mean that households will keep their wallets closed," said Joel Naroff, an economist with Naroff Economic Advisors.

If they do, it'll happen at a bad time. The holiday season is just weeks away, and it's expected to be anemic.

"I don't know how long this is going to last," said Johnny Hunt, 50, a carpenter in Deltona, Fla., who says he is cutting back on a lot of things. "So I got to save money. You've got to hold onto what you do have."

S&P said in a report earlier this week that holiday retail sales would probably fall 2 percent to $250 billion this year, "the most difficult holiday season in memory for U.S. retailers."

Holiday sales have increased an average of 4.4 percent a year in the past decade, the report said.

Meanwhile, the housing slump, which set off the mortgage crisis that has consumed Wall Street for more than a year, shows no sign of abating. A closely watched index of home prices fell Tuesday by its steepest ever annual rate in August.

The Standard & Poor's/Case-Shiller 20-city housing index dropped a record 16.6 percent from August last year, the largest drop since its inception in 2000.

In addition, the Census Bureau reported that 2.8 percent of U.S. homes — excluding rental properties — were vacant and for sale in the third quarter, unchanged from the second quarter. That works out to 2.22 million properties, the second-highest quarterly number in records going back to 1956.

The first quarter clocked in at a 2.9 percent vacancy rate. In a normal market, it's about 1.7 percent, said Patrick Newport, an economist at IHS Global Insight. That means there's more than 800,000 excess vacant homes on the market.

Exacerbating the pricing environment is a rash of foreclosures, especially in once-hot markets like California, Las Vegas, Florida and Phoenix. Home prices are falling fastest there, according to Case-Shiller — dropping as much as 30 percent in August.

To move foreclosed properties off their books, lenders are sharply discounting prices, which is weighing down median prices.

On Thursday, the Commerce Department will provide its first estimate of the economy's third quarter performance, and many economists think the economy shrank. Economic contraction for the third and fourth quarters consecutively would meet the classic definition of recession.

___

Associated Press writers Tim Paradis in New York and Jeannine Aversa in Washington contributed to this report.

RP shares fall to lowest in more than 4 years

2008-10-27T05:29:00.000-07:00

MANILA, Philippines - Philippine share prices took a heavy beating on Monday, with the main index plunging to its lowest in more than four years as investors fled emerging markets on global recession fears, analysts said.

The 30-company Philippine Stock Exchange (PSE) index declined 239.66 points or 12.27 percent to 1,713.83 while the all-share index dropped 122.79 points to 1,138.07.

Data from the PSE showed that Monday’s close was the lowest since September 20, 2004 as the 12.2683-percent decline was the biggest one day percentage drop and also the biggest one-day point drop after February 28, 2007 when the local bourse lost 263.84 points.

All the stock market’s sub-indices lost at least 8 percent each, led by the services sector which shed 13.246 percent, followed by the holding firms, 10.6896 percent; and financials, 10.5206 percent.

Of the 141 traded issues for the day, 123 declined, while five advanced and 13 stocks were unchanged.

Volume traded reached P1.102 billion valued at about P1.6 billion.

Monday’s sharp decline forced the PSE to impose a 15-minute trading suspension between 11:23 a.m. and 11:38 a.m. as the market saw shares falling by more than 10 percent.

For the first time in its 81-year existence, the stock exchange regulator was prompted to halt trading and impose the “circuit breaker" rule in a bid to calm the frantic sell-off in the bourse, Francis Ed. Lim, PSE president and chief executive officer, said.

Peter Raymond Lee, IGC analyst, said investors were dumping emerging markets in favor of “raising cash."

"Asian markets led the decline today mostly on fears that the recession is spreading on emerging markets. We may be one of the smallest markets, but we are still vulnerable," he said.

source

Investors dump stocks since cash remains king

2008-10-27T05:27:00.000-07:00

MANILA, Philippines - Philippine share prices on Friday dropped anew as investors chose to liquidate their assets and flee to more stable investments, analysts said.

The 30-company Philippine Stock Exchange index 42.43 points or 2.1258 percent to 1,953.49 while the all-share index slipped 23.30 points or 1.8144 percent to 1,260.86.

Losers dominated gainers 92 to 23 while 24 stocks were unchanged.

Volume traded reached about 847.4 million valued at about P1.951 billion.

Jet Lazaro, Abacus Capital trader, said foreign funds continued to dump local stocks in favor of raising cash.

Asian markets led by Japan's Nikkei and Hong Kong’s Hang Seng were also on a steep slide, losing by triple digits each.

“It’s the same story everywhere. Fund managers are forced to liquidate their assets and get out of emerging markets. There's no let-up," he said.

Friday’s decline was the fourth straight session that the local bourse suffered losses.

Lazaro also noted that issues were selling at their prices some three years ago.

“We’re back to levels three years ago. Some are even selling at their pre -1997 Asian financial crisis," Lazaro said.

He added that following the 1997 crisis, the local bourse had bottomed out only in 2002.

"The qualitative difference of that crisis with this one is that our listed companies are liquid and even our economy is doing much better. Back then local companies had a lot of foreign debts, magnifying the impact of the Asian crisis," he said.

Lazaro added that for next week the local bourse's support levels will come in between 1,909 and 1,805.

Except for four issues, all in the 20 most traded stocks for the day declined.

Telecommunications giant Philippine Long Distance Telephone Co. dipped P30 or 1.373 percent to P2,155.

Ayala Corp., one of the country's largest business groups, slumped P8 or 3.4043 percent to P227.

Geothermal power producer PNOC-Energy Development Corp. tumbled P0.15 or 4.8387 percent to P2.95.

Property giant Ayala Land Inc. dove P0.10 or 1.6949 percent to P5.80.

Globe Telecom Inc., the country's second-largest telecommunications company, shed P10 or 1.1494 percent at P860. - GMANews.TV

RP stock market loses P253B in just a single trading session

2008-10-27T05:25:00.000-07:00

MANILA, Philippines - The historic plunge of the Philippine stock market on Monday prompted the bourse’s market capitalization to lose P252.6 billion in value in just a single trading day.

Monday’s steep fall pushed total losses to P1.76 trillion since the start of the month, data from the Philippine Stock Exchange (PSE) indicated.

As of Monday’s trading close, market capitalization was about 27 percent lower than the end of September’s, a difference of about P6.51 trillion.

“As it is, our market is already one of the smaller markets in the world and with the drop today, our value has further diminished," Claire Quiray, Accord Capital Equities analyst, said.

She also noted that the local bourse was the second worst performer in the region for Monday, following Hong Kong’s 12.7-percent plunge.

The PSE’s main index has shed 239.66 points or 12.27 percent at 1,713, a four-year and one month low. Besides being the biggest one-day percentage drop in the stock exchange’s history, it was also the biggest one-day point drop after February 28, 2007 when the local bourse lost 263.84 points.

In a separate telephone interview, Francis Lim, PSE president and chief executive officer, said the market capitalization losses were a “necessary result" of the PSE’s huge decline on Monday.

“It is the peso equivalent of the stock market’s decline today. But we hope that with what the foreign governments are doing, the decrease in the stock market index will slow down. The local market has been tracking global markets," he said.

Lim also called on the government to expedite reforms to develop the capital markets in the Philippines to provide some cushion against global volatility.

Next: Bourse official seeks permanent exemptions for stock market transactions

source

PSE temporarily halts trading as stocks suffer heavy losses

2008-10-26T21:57:00.001-07:00

MANILA, Philippines - For the first time in the 81-year existence of stock trading in the country, the Philippine Stock Exchange on Monday has temporarily halted the session in a bid to calm the frantic sell-off in local shares, which sent the main index falling by more than a tenth of its value.

In a telephone interview Francis Ed. Lim, PSE president and chief executive officer, told GMANews.TV that the PSE has imposed the 15-minute circuit breaker rule from 11:23 a.m. to 11:38 a.m. as the bourse's bellwether Philippine Stock Exchange index plunged 220.70 points or 11.3 percent.

"It's a sad day for us but this is not surprising. We're suffering as much as the rest of the world and this is not caused by internal matters," he said.

Lim added that the PSE resumed trading a few minutes before 12 noon.

"We want to remain market-oriented," he said.

The PSE announced late last month that the circuit breaker rule is aimed at giving more time to investors to “digest the impact of a sudden and unusual market drop and to help restore normalcy to the stock market".

The trading halt will be implemented only once in a trading day and will not be resorted to if the drop occurs 30 minutes or less prior to the market close.

Trading at the PSE opens at 9:00 a.m. and closes at 12:10 noon.

Lim earlier said circuit breakers are utilized by some exchanges to prevent investor panic.

"The problem with panic selling is that investors are selling out of pure emotion rather than based on fundamentals. Almost every market crash is a result of panic selling," Lim had said.

The PSE said that other exchanges which have already adopted a similar rule include the New York Stock Exchange, Nasdaq Composite, and Asian bourses such as Malaysia and Thailand, and developed stock markets in South Korea and Taiwan.

On Friday the Dow Jones industrial average fell 312.30, or 3.59 percent, to 8,378.95. However, stock index futures indicated a moderately higher open, with Dow futures climbing 34, or 0.41 percent, to 8,295. Standard & Poor's 500 futures and Nasdaq-100 futures were also higher.

Astro del Castillo, managing director at First Grade Holdings, noted that investors' sentiment was "really bad"

"This is a marathon, looking for a cure. No one can't stop this fall," he said.

Del Castillo added that for the rest of the week, until investors are convinced that the global economy is on its way to recovery, local stocks will be "on a roller-coaster ride with a downward bias." Source

PSE temporarily halts trading as stocks suffer heavy losses

2008-10-26T21:57:00.000-07:00

Uses for $700-B bailout money ever shifting

2008-10-25T13:02:00.000-07:00

Uses for $700-B bailout money ever

WASHINGTON - First, the $700 billion rescue for the US economy was about buying devalued mortgage-backed securities from tottering banks to unclog frozen credit markets.

Then it was about using $250 billion of it to buy stakes in banks. The idea was that banks would use the money to start making loans again.

But reports surfaced that bankers might instead use the money to buy other banks, pay dividends, give employees a raise and executives a bonus, or just sit on it. Insurance companies now want a piece; maybe automakers, too, even though Congress has approved $25 billion in low-interest loans for them.

Three weeks after becoming law, and with the first dollar of the $700 billion yet to go out, officials are just beginning to talk about helping a few strapped homeowners avoid losing their homes in foreclosures.

As the crisis worsens, the government's reaction keeps changing. Lawmakers in both parties are starting to gripe that the bailout is turning out to be far different from what the Bush administration sold to Congress.

In buying equity stakes in banks, the Treasury has "deviated significantly from its original course," says Alabama Sen. Richard Shelby, the top Republican on the Senate Banking, Housing and Urban Affairs Committee. "We need to examine closely the reason for this change," said Shelby, who opposed the bailout.

The centerpiece of the Emergency Economic Stabilization Act is the "troubled asset relief program," or TARP for short. Critics note that tarps are used to cover things up. The money was to be devoted to buying "toxic" mortgage-backed securities whose value has fallen in lockstep with home prices.

But once European governments said they were going into the banking business, Treasury Secretary Henry Paulson followed suit and diverted $250 billion to buy stock in healthy banks to spur lending.

Bank executives hinted they might instead use it for acquisitions. Sen. Christopher Dodd, chairman of the Senate banking committee, said this development was "beyond troubling."

Sure enough, a day after Dodd, a Connecticut Democrat, made the comment, the government confirmed that PNC Financial Services Group Inc. was approved to receive $7.7 billion in return for company stock. At the same time, PNC said it was acquiring National City Corp. for $5.58 billion.

"Although there will be some consolidation, that's not the driver behind this program," Paulson recently told PBS television talk show host Charlie Rose. "The driver is to have our healthy banks be well-capitalized so that they can play the role they need to play for our country right now."

Other planned uses of the bailout money have lawmakers protesting, although it is only fair to note there is nothing in the law that they just wrote to prevent those uses.

Sen. Charles Schumer, a New York Democrat, questioned allowing banks that accept bailout bucks to continue paying dividends on their common stock.

"There are far better uses of taxpayer dollars than continuing dividend payments to shareholders," he said.

Schumer, whose constituents include Wall Street bankers, said he also fears that they might stuff the money "under the proverbial mattress" rather than make loans.

Neel Kashkari, head of the Treasury's financial stability program, told Dodd's committee this past week that there are few strings attached to the capital-infusion program because too many rules would discourage financial institutions from participating.

As the bank plan has become a priority, the effort to buy troubled assets has receded from the headlines. Potential conflicts of interest pose all kinds of problems in finding qualified companies to manage that program.

"Firms with the relevant financial expertise may also hold assets that become eligible for sale into the TARP or represent clients who hold troubled assets," Kashkari said.

The challenge was made plain when the Treasury hired the Bank of New York Mellon Corp. as "custodian" of the troubled assets purchase program. The bank will conduct "reverse auctions" to buy the toxic securities on behalf of the Treasury Department. The lower the price they set, the better chance sellers have of getting rid of the devalued securities.

On the same day it hired Mellon, the Treasury also picked the company to receive a $3 billion investment as part of the capital-infusion program. The same bank hired to help manage part of the economic rescue plan became a beneficiary of it.

With the Nov. 4 election nearing, lawmakers decided it was important to remind the government officials running the bailout program about parts of the law aimed at helping distressed homeowners by offering federal guarantees to mortgages renegotiated down to lower monthly payments.

"The key to our nation's economic recovery is the recovery of the housing market," Dodd said. "And the key to recovery of the housing market is reducing foreclosures."

Sheila Bair, who heads the Federal Deposit Insurance Corp., responded that her agency is working "closely and creatively" with Treasury officials to "realize the potential benefits of this authority." - AP

Jun Lozada to Joc-Joc: Tell truth, leave a lasting legacy

2008-10-24T03:44:00.001-07:00

MANILA, Philippines - Barely two days before he is to supposedly board a flight that will take him home, former agriculture undersecretary Jocelyn "Joc-Joc" Bolante was advised to bare all on the P728-million fertilizer scam once he returns home.

The advice came Friday from Rodolfo Noel Lozada Jr., who earlier this year decided to spill the beans on another anomaly - the $329.48-million ZTE broadband deal mess.

"As a father, I am asking you to please think about your children, please consider the legacy you are going to leave to them. Are you going to forever leave them as pariahs branded as children of a thief - or as children of someone who did wrong and yet chose to serve his country in the end, rather than to be a captive forever of the dark forces he used to serve?" Lozada said in an open letter posted on the blog site of the Black and White Movement.

The advice came the same day that law professor Harry Roque Jr. said that he expects Bolante to take a Northwest Airlines flight home on Sunday, and may arrive in Manila at 11 p.m. Tuesday.

Bolante has been tagged as the engineer of a P728-million fertilizer scam where funds for liquid fertilizer were allegedly funneled to the campaign kitty of then administration presidential bet Gloria Arroyo.

In his open letter, Lozada also appealed to Bolante as a fellow Rotarian to take the four-way test as part of his discernment process.

"Is it the Truth? Is it fair to everyone concerned? Will it build goodwill and better friendship? Will it be beneficial to everyone concerned? You have been a good Rotarian for many good years of your life. Will you now turn your back on these ideals in the biggest test of your Rotarian values?" Lozada said.

On the other hand, he urged Bolante not to be afraid of the consequences.

"It is my faith in this God that allowed me to face all the fears that I am confronted with when I decided to tell the truth that I know about the NBN-ZTE scam. May you find the faith to lead you to the Light of God's love that no darkness can ever defeat, not even a President of the Republic of the Philippines," he said.

But Lozada advised Bolante to prepare his family for whatever decision he will make.

He said one of his regrets in coming out on the ZTE mess was that he did not prepare his family enough for the consequences.

"I am sharing these insights with you, because if there is one thing that I did regret in telling the truth about how this Arroyo administration has been stealing from the very people it is supposed to serve, it is that I was not able to prepare my wife and my children well enough against the backlash of this government's wrath against me for telling the people about their crimes,"Lozada said.

"You still have time to discern your next move, whether or not you are going to tell the people the truth about the fertilizer scam or bring the secret to your grave, just like Romy Neri," he added. - GMANews.TV

Jun Lozada to Joc-Joc: Tell truth, leave a lasting legacy

2008-10-24T03:44:00.000-07:00

MANILA, Philippines - Barely two days before he is to supposedly board a flight that will take him home, former agriculture undersecretary Jocelyn "Joc-Joc" Bolante was advised to bare all on the P728-million fertilizer scam once he returns home.

Greenspan denies blame for crisis, admits 'flaw

2008-10-23T17:28:00.000-07:00

WASHINGTON – Badgered by lawmakers, former Federal Reserve Chairman Alan Greenspan denied the nation's economic crisis was his fault on Thursday but conceded the meltdown had revealed a flaw in a lifetime of economic thinking and left him in a "state of shocked disbelief."

Greenspan, who stepped down in 2006, called the banking and housing chaos a "once-in-a-century credit tsunami" that led to a breakdown in how the free market system functions. And he warned that things would get worse before they get better, with rising unemployment and no stabilization in housing prices for "many months."

Gloomy economic reports backed him up. New jobless claims soared to just under 500,000 for last week, and Goldman Sachs, Chrysler and Xerox all said they were cutting thousands more workers. On Wall Street, the Dow Jones industrials bounced erratically all day before finishing up 172 points — after a two-day drop of nearly 750.

The financial crisis even prompted the Republican Greenspan, a staunch believer in free markets, to propose that government consider tougher regulations, including requiring financial firms that package mortgages into securities to keep a portion as a check on quality.

He said other regulatory changes should be considered, too, in such areas as fraud.

Also looking for solutions, another banking regulator told Congress the government was working on a loan-guarantee plan that could help many homeowners escape foreclosure as part of the $700 billion bailout legislation. That plan is being discussed by the Treasury Department and the Federal Deposit Insurance Corp., said FDIC Chairman Sheila Bair, who is pushing the idea.

Greenspan's interrogation by the House Oversight Committee was a far cry from his 18 1/2 years as Fed chairman, when he presided over the longest economic boom in the country's history. He was viewed as a free-market icon on Wall Street and held in respect bordering on awe by most members of Congress.

Not now. At an often contentious four-hour hearing, Greenspan, former Treasury Secretary John Snow and Securities and Exchange Commission Chairman Christopher Cox were repeatedly accused by Democrats on the committee of pursuing an anti-regulation agenda that set the stage for the biggest financial crisis in 70 years.

"The list of regulatory mistakes and misjudgments is long," panel chairman Henry Waxman declared.

Greenspan, 82, acknowledged under questioning that he had made a "mistake" in believing that banks, operating in their own self-interest, would do what was necessary to protect their shareholders and institutions. Greenspan called that "a flaw in the model ... that defines how the world works."

He acknowledged that he had also been wrong in rejecting fears that the five-year housing boom was turning into an unsustainable speculative bubble that could harm the economy when it burst. Greenspan maintained during that period that home prices were unlikely to post a significant decline nationally because housing was a local market.

He said Thursday that he held to that belief because until the current housing slump there had never been such a significant decline in prices nationwide. He said the current financial crisis had "turned out to be much broader than anything that I could have imagined."

Greenspan's much-anticipated appearance before the House panel came as the Senate Banking Committee held its own hearing on what the government is doing now to get out of the mess.

Assistant Treasury Secretary Neel Kashkari, who is overseeing the $700 billion financial rescue effort that passed Congress on Oct. 3, said the administration was not only working to get federal purchases of bank stock started quickly but also the program to mop up troubled mortgage-related assets. He also said the government was working to make sure that directives in the legislation to help struggling homeowners avoid foreclosure were being addressed.

Kashkari said the plan could include setting standards that banks should follow for reworking mortgages to make them more affordable. He said the administration was considering a recommendation to provide government loan guarantees to cover the reworked mortgages to make the program more attractive to banks.

"We are passionate about doing everything we can to avoid preventable foreclosures," Kashkari told the committee.

The FDIC's Bair told the same Senate panel that the government needs to do more to help tens of thousands of people avoid foreclosure.

She said the FDIC was working "closely and creatively" with the Treasury Department to come up with a plan.

Greenspan was asked to defend a variety of actions he took as Federal Reserve chairman — resisting recommendations to use the Fed's powers to crack down on subprime mortgages, for one. And opposing efforts to impose regulations on derivatives, the complex financial instrumentscredit default swaps, which have also figured prominently in the current crisis. that include

He said that outside of credit default swaps, the bulk of financial derivatives had not caused major problems. He said the boom in subprime lending occurred because of the huge demand for investment opportunities in a global economy, and he blamed the crash on a failure by investors to properly assess the risks from such mortgages, which went to borrowers with weak credit.

As for firms that package mortgages into securities, he said, "As much as I would prefer it otherwise, in this financial environment I see no choice but to require that all securitizers retain a meaningful part of the securities they issue."

On the billions of dollars of losses suffered by financial institutions because of their investments in subprime mortgages, Greenspan said he had been shocked by the failure of banking officials to protect their shareholders from their bad loan decisions.

"A critical pillar to market competition and free markets did break down," Greenspan said. "I still do not fully understand why it happened."

SEC Chairman Cox told the House panel that "somewhere in this terrible mess, laws were broken." And Snow said that lawmakers should have responded more quickly to his pleas for stronger regulation for mortgage giants Fannie Mae and Freddie Mac, which were taken over by the government last month.

In the meantime, Kashkari, the Treasury official overseeing the bailout program, said there has been much progress, resulting in "numerous signs of improvement in our markets and in the confidence in our financial institutions." Still, he cautioned, "the markets remain fragile."source

Stocks tumble on worries about earnings forecasts

2008-10-22T17:35:00.000-07:00

NEW YORK – Wall Street tumbled again Wednesday as investors worried that the global economy is poised to weaken even as parts of the credit market slowly show signs of recovery. The major indexes fell more than 4 percent, including the Dow Jones industrial average, which finished off its lows with a loss of 514 points.

The Standard & Poor's 500 index was the worst performer among the major indexes with a 6.1 percent slide that left it at its lowest level since April 2003.

Corporate profit forecasts, a jump in the dollar and falling commodity prices signaled investors are fearful that an economic slowdown will sweep the globe even if lending begins to approach more normal levels as credit markets ease.

The dollar hit multiyear highs against several other major currencies, weighing on commodity prices. That hurt materials and energy companies, while the fall in oil gave a boost to airlines. Technology shares fared better than the broader market following quarterly reports from Apple Inc. and Yahoo Inc.

While reduced strains in global credit markets have eased some investors' nervousness about the economy, market anxiety remains as hundreds of companies this week report third-quarter results and issue somewhat murky forecasts that are stirring unease about the economic bumps that may lay ahead.

Wachovia Corp., which is being bought by Wells Fargo & Co., reported that it swung to a huge loss in the third quarter while the drugmaker Merck & Co. said its quarterly profit fell 28 percent and that it would cut more than 10 percent of its work force.

John Thornton, co-portfolio manager at Stephens Investment Management Group LLC in Houston, said investors' fear has shifted from the immediate concerns about tightness in credit and the resulting difficulty in borrowing to the broader economy as companies come out with their quarterly numbers.

"Even if it weren't for the credit crisis we'd probably be looking toward a pretty tough recession anyway," he said. "The third-quarter earnings are kind of uninspiring but third quarter hasn't been the real concern of people. I think the concern is the depth and duration of the downturn and the effect it's going to have on earnings."

The Dow fell 514.45, or 5.69 percent, to 8,519.21, after being down as much as 698 points in the final half hour of trading. Still, the Dow finished above its Oct. 10 closing low of 8,451. The Dow fell 232 points Tuesday after jumping 413 points Monday.

Broader stock indicators also fell Wednesday. The S&P 500 lost 58.27, or 6.10 percent, to 896.78, its lowest close since it finished at 892.01 on April 21, 2003. The decline leaves the index 42.7 percent below its record close of 1,565.15 in October last year.

The technology-heavy Nasdaq composite index fell 80.93, or 4.77 percent, to 1,615.75.

Lighter trading volume and the Dow's snapback — a rebound in the final 20 minutes that left the blue chips 183 points above the session's low — indicated that the trading was more orderly than it had been two weeks ago when waves of selling pounded the major indexes.

"I'm not as concerned about a pullback in the market when you have light volume," said Dave Hinnenkamp, chief executive KDV Wealth Management in Minneapolis.

Meanwhile, credit markets showed improvement after virtually freezing up in the past month. Bank-to-bank lending rates fell sharply from Tuesday to Wednesday, indicating that credit is becoming easier to obtain. The London Interbank Offered Rate, or Libor, on three-month loans in dollars fell to 3.54 percent from 3.83 percent, dropping for an eighth straight day.

Demand for Treasury bills, regarded as the safest assets around, grew slightly compared to the previous day as economic worries led investors to shun risky assets in favor of government bonds.

The three-month Treasury bill yielded 1.01 percent, down from 1.07 percent late Tuesday. The levels are a notable improvement from the 0.20 percent seen last Wednesday, when investors were willing to trade the slimmest of returns for a safe place to keep their money.

The yield on the benchmark 10-year Treasury note, which also moves opposite its price, fell to 3.60 percent from 3.74 percent late Tuesday.

"We're making slow progress and confidence is returning but we're still not there yet," said Christopher Cordaro, chief investment officer at RegentAtlantic Capital LLC in Chatham, N.J.

He said the latest batch of quarterly results, which cover results through Sept. 30, don't reflect the full brunt of the credit freeze-up felt this month and the nervousness among some consumers following the stock market's swoon.

While he expects corporate results will continue to worsen, he also said the markets remain "in panic mode" and investors are perhaps being overly dour in their assessment of how the economy will perform in the next few years.

"When you look at the fundamentals of equities around the world, stocks are selling for very cheap prices," he said. "Behaviorally people project today's current bad news much further out into the future than they should."

Worries about the global economy helped the dollar. The greenback rose against currencies like the British pound and the euro as investors worried about sluggishness in overseas economies. The strong dollar helped drive down the price of oil, as did a government report that U.S. fuel supplies rose last week. Light, sweet crude fell $5.43 to $66.75 a barrel on the New York Mercantile Exchange, after falling as low as $66.20.

Gold fell sharply as the dollar rose. Gold for December delivery fell $32.80 to settle at $735.20 an ounce on the Nymex, after dipping to a 13-month low of $735.20 during the session. Silver and copper also fell.

While the drop in oil and other commodities can be a welcome sign for consumers and many businesses it can also indicate that investors think economic activity is poised to shrink.

Still, Hinnenkamp said the extra money in drivers' wallets compared with when oil was at its high of $147.27 on July 11 could help prop up the economy. Consumer spending accounts for more than two-thirds of U.S. economic activity.

But materials companies fell as commodity prices tumbled. Aluminum producer Alcoa Inc. fell $1.63, or 13.4 percent, to $10.52, making it the steepest decliner among the 30 stocks that make up the Dow industrials. Miner Freeport-McMoRan Copper & Gold Inc. fell $5.82, or 17.8 percent, to $26.92.

Energy issues fell as oil slid to its lowest level in 16 months. Exxon Mobil Corp. fell $6.93, or 9.7 percent, to $64.57, while Chevron Corp. fell $5.06, or 7.6 percent, to $61.74.

The decline in oil helped airlines. JetBlue Airways Corp. rose 2 cents, or 0.40 percent, to $5.01, and United Airlines parent UAL Corp. rose 85 cents, or 6.2 percent, to $14.65.

In corporate news, AT&T Inc. said its third-quarter earnings rose 5.5 percent but missed analyst expectations in part because of strong sales of Apple's iPhone, which the carrier subsidizes. The stock fell $1.95, or 7.6 percent, to $23.78.

Wachovia fell 38 cents, or 6.2 percent, to $5.71 after reporting its results. Merck slid $1.96, or 6.5 percent, to $28.01.

Some tech names advanced. Apple rose after the company reported a 26 percent increase in its fiscal fourth-quarter earnings. The stock rose $5.38, or 5.9 percent, to $98.87. Yahoo reported a 64 percent drop in third-quarter profits but said it would cut at least 1,500 jobs, cost-cutting that appeared to please investors. The shares rose 32 cents, or 2.7 percent, to $12.39.

Thornton said the latest corporate forecasts are difficult to rely on because companies are grappling with many of the same unknowns that investors are struggling with, primarily the extent of weakness in the economy.

"These markets are making it difficult to gauge how much to read into management comments because clearly they're dealing with unprecedented change in fundamentals. It's hard to take their word on their outlook," he said.

Declining issues outnumbered advancers by about 5 to 1 on the New York Stock Exchange, where consolidated volume came to 6.06 billion shares compared with 5.09 billion traded Tuesday. The levels are lower than earlier in the month when volatility swept volume above the 10 billion mark.

The Russell 2000 index of smaller companies fell 28.68, or 5.40 percent, to 501.97.

Markets overseas fell sharply. Japan's Nikkei stock average fell 6.79 percent. Britain's FTSE 100 fell 4.46 percent, Germany's DAX index fell 4.46 percent, and France's CAC-40 lost 5.10 percent. source

Thai court sentences Thaksin to jail in graft case

2008-10-21T04:28:00.000-07:00

BANGKOK (Reuters) – Thailand's Supreme Court ruled on Tuesday that former prime minister Thaksin Shinawatra had violated a conflict-of-interest law while in office and sentenced him to two years in prison.

The nine judges ruled by five to four that Thaksin, who has been at the heart of Thailand's political crisis over the past three years and now lives in exile in Britain, had got involved in his wife's purchase of land from a central bank fund.

"The defendant is guilty of violating the anti-corruption law, and the punishment is two years in prison," a judge said, reading out the verdict.

Thaksin, speaking to Reuters by telephone, said the case was politically motivated. He has said before that he could not expect a fair trial from Thai courts. "I have been informed of the result. I had long anticipated that it would turn out this way," he said.

He denied British media reports he was seeking asylum in Britain. A Thai prosecutor said he would urge Britain to extradite Thaksin now that the court had sentenced him to prison.

The ruling is the first on a spate of corruption charges against Thaksin and his political associates prepared by graft investigators appointed after a military coup in 2006.

It will do little to lower the political temperature in Thailand, where Thaksin still commands wide support outside the capital, and will be seen as a further blow to the government of Prime Minister Somchai Wongsawat, who is his brother-in-law.

An elected government came to power this year but the main party in the coalition, the People Power Party, is seen by opponents as a mere proxy for Thaksin.

The extra-parliamentary People's Alliance for Democracy (PAD) has been waging a street campaign since May to force the government out and has occupied the prime minister's official compound since August.

Two people were killed and hundreds injured in clashes between PAD supporters and the police on October 7.

NO CLASH

The court area was plastered with signs warning Thaksin supporters and opponents they would be in contempt of court if they caused any disturbance.

About 300 government supporters were seen around the court, which was guarded by 100 uniformed police officers, a third of the number the police had earlier planned to deploy.

The PAD opted not to go ahead with a plan to march to the court. "We are staying where we are. We don't want to create any trouble," PAD spokesman Parnthep Pourpongpan told Reuters.

The political crisis dates back to 2005 when the PAD launched street protests against Thaksin, alleging corruption and abuse of power. It has meandered through a coup to elections and back to protests and shows no sign of resolution.

The army removed Thaksin from power because of allegations of rampant corruption during his five years in power. Nearly $2 billion of his family's assets have been frozen in Thai bank accounts. source

Customize Your Google News

2008-10-20T07:13:00.000-07:00

Personalize Your Page Now

Go to Google.com and just above the search box you'll see the text link titled ‘News'. Click this to get a standard news format featuring World News, Weather, Sports and the usual fare.

Let's assume for a moment that you are a realtor who specializes in Virginia Beach, VA real estate. Click on, ‘edit this personalized page' in the upper right-hand corner and enter the keywords for the news you want delivered to your personalized news page. You might choose Virginia Beach Real Estate, Virginia Mortgage, Virginia Fore Closures, Virginia HUD Properties and Home Interest Rates.

Presto! You now have a customize news page that delivers current and breaking Virginia real estate related news to your browser at a glance.

As a web designer and SEO developer I stay on top of what's happening with the major search engines and the hi-tech sectors.
I set my Google news page to display news for SEO, (Search Engine Optimization), Sci/Tech, Google, Yahoo, MSN, Ask.com and Top Stories.

Let's presume you are a Virginia attorney, you could set your Google news page to; US Supreme Court, Virginia Appellate Court, Virginia Beach Local Courts, Crime Busters and so on.

Depending on your career track or what interests you the most, you can personalize your Google news page for virtually any person, place or thing!

It's a great way to stay at the tip-top of what's happening, while it happens!

See a screen-capture of my Google News page !

Depression: How To Watch The News

2008-10-20T07:08:00.000-07:00

Sometimes, one of the hardest things to do when you suffer for depression is to look the news. In this time of sensationalism, it can sometimes be hard to watch the news without allowing it to send you deeper into your depression. There are a few things to do so as not to undergo from that.

The first is to buffer the news. Watch something wwws before. Since the news usually ends on upbeat notes, that should remain your mood up. Another technique is to do something while you watch the news, so overly you don't spend all of your focus on the news. Read a book or do a crossword while watching the news. By focusing on the news only, you are more likely that you will allow it to change your mood. By giving it merely part of your attention, you can stabilize your mood a bit more. You can also watch the news surrounded by somebody else. That way, you have one with whom you can talk something like how you are seeing which might help you to release any anxiety that you are feeling.

Sometimes, watching the news on television is more harmful than helpful. The web allows you to get news whenever you want and that might strive better. Yahoo and Google both have complete news sites and companies such as the New York things and CNN also keep up extensive web presences. It should allow you to watch the to hear a little at a time and get headlines without needing to get too much information.

How to Write Your Own Press Release

2008-10-20T06:59:00.000-07:00

News reports and readily available information on news and events are second nature to us. We see them all the time in all forms of media whether it be commercial or purely news-based. Both types of news reports are the result of something that ensures only an entertaining, informational, educational or otherwise beneficial news states reaches the masses. It is a serious business made up of carefully thought-out approaches. The key here is a Press Release.

A push release is basically something you spit out to inform someone of a news story, an event, or a commercial news item. More specifically however, a press release is sent to persons who survey news stories to the general public and thus do not make contact with the public directly; rather through a medium these as a newspaper or interweb news website. In condition to write an effective press release, you need to supply all important details related to your news story. Make sure it is concise and at the same time highly interesting to the reader. In short, the tone of your press release should be that the news item is in fact shock worthy regardless of how it is about.

By having a good understanding of what a press release is, how it ultimately affects what to hear stories reach the public, and how it will effect your own news item might help you to better formulate a good drive release. Do some quick research and you can find ample information on how one is written. Plan carefully and your news item can undoubtedly get further exposure amongst a nice press release!

Reality TV News Online - Part 3

2008-10-20T06:44:00.000-07:00

At present, certain reality news TV online does not just strive to be the most comprehensive but to become the most newsworthy provider of news to the online public. These types of sites are the ones frequently updated with the most intriguing news reports of any reality TV show from all around the world.

To best suit to the news consumer's demands for quality news, they even hire a huge team of editors to sort out and guide the direction of effective and responsible news writing online. There are many original reports on various trends, gossips and creative analyzes of everyday reality news that are posted regularly. Thus, all people will know who got in and who was eliminated from certain reality TV shows, in as much as knowing what is hot and what is not.

Like these types of reality TV news online, they thrust completeness in reality news and not necessarily covering all the news. Having a complete content with the news on hand is a lot better than getting the most number of news. They only cover the news that is interesting to the news readers. Useless and insignificant news are out of the discussion boards. As an avenue for responsible journalism, they even allow the readers to make comments or corrections to the news they are posting especially when it involves non-factual and highly opinionated content. Their primary concern is to target the reality shows that meet the standard for quality wherein the best shows can even have a separate archive for arranging news specific to it.

Powell picks Obama, hits McCain campaign tone

2008-10-20T06:23:00.000-07:00

(Update) WASHINGTON – Colin Powell, a Republican and retired general who was President Bush's first secretary of state, broke with the party Sunday and endorsed Democrat Barack Obama for president, calling him a "transformational figure" while criticizing the tone of John McCain's campaign.

The former Joint Chiefs of Staff chairman said either senator is qualified to be commander in chief. But after studying both, he concluded that Obama is better suited than McCain, the standard-bearer of Powell's own party, to handle the nation's economic problems and help improve its world standing.

"It isn't easy for me to disappoint Sen. McCain in the way that I have this morning, and I regret that," Powell said on NBC's "Meet the Press," where he announced the endorsement and delivered a serious blow to the aspirations of his longtime friend, Arizona Sen. McCain.

But, Powell added: "I think we need a transformational figure. I think we need a president who is a generational change and that's why I'm supporting Barack Obama, not out of any lack of respect or admiration for Sen. John McCain."

The endorsement by Powell amounted to a stunning rejection of McCain, a 26-year veteran of Congress and a former Vietnam prisoner of war who has campaigned as the experienced, tested candidate who knows how to keep the country safe.

Powell's endorsement has been much anticipated because of his impressive foreign policy credentials, a subject on which Obama, a first-term senator from Illinois, is weak. Powell is a Republican centrist popular among moderate voters.

At the same time, Powell is a black man and Obama would be the nation's first black president — a goal Powell considered pursuing for himself in 1996, before deciding not to run. Powell said he was cognizant of the racial aspect of his endorsement, but said that was not the dominant factor in his decision.

Powell expressed disappointment in the negative tone of McCain's campaign, his choice of Alaska Gov. Sarah Palin as a running mate and their decision to focus in the closing weeks of the contest on Obama's ties to 1960s-era radical William Ayers, saying "it goes too far."

A co-founder of the Weather Underground, which claimed responsibility for nonfatal bombings in the United States during the Vietnam War-era, Ayers is now a college professor who lives in Obama's Chicago neighborhood. He and Obama also served together on civic boards in Chicago.

"This Bill Ayers situation that's been going on for weeks became something of a central point of the campaign," Powell said. "But Mr. McCain says that he's a washed-out terrorist. Well, then, why do we keep talking about him?"

Powell said McCain's choice of Palin raised questions about judgment.

"She's a very distinguished woman, and she's to be admired. But at the same time, now that we have had a chance to watch her for some seven weeks, I don't believe she's ready to be president of the United States, which is the job of the vice president," he said. "And so that raised some question in my mind as to the judgment that Sen. McCain made."

McCain seemed dismissive of Powell's endorsement, saying he had support from four other former secretaries of state, all veterans of Republican administrations: Henry Kissinger, James A. Baker III, Lawrence Eagleburger and Alexander Haig.

"Well, I've always admired and respected Gen. Powell. We're longtime friends. This doesn't come as a surprise," McCain said on "Fox News Sunday."

Asked whether the endorsement would undercut his campaign's assertion that Obama is not ready to lead, McCain said, "Well, again, we have a very, we have a respectful disagreement, and I think the American people will pay close attention to our message for the future and keeping America secure."

Powell also said he was troubled that some Republicans — he excluded McCain — continue to say or allow others to say that Obama is a Muslim, when he is a Christian. Such rhetoric is polarizing, he said.

"He's always been a Christian. But the really right answer is, what if he is? Is there something wrong with being a Muslim in this country? The answer's no, that's not America," Powell said. "Is there something wrong with some 7-year-old Muslim-American kid believing that he or she could be president?"

Obama called Powell to thank him for the endorsement, Obama spokesman Robert Gibbs said.

"I am beyond honored and deeply humbled to have the support of Gen. Colin Powell," Obama said at a rally in Fayetteville, N.C. "Gen. Powell has defended this nation bravely, and he has embodied our highest ideals through his long and distinguished public service. ... And he knows, as we do, that this is a moment where we all need to come together as one nation — young and old, rich and poor, black and white, Republican and Democrat."

Powell said he remains a Republican, even though he sees the party moving too far to the right. He supports abortion rights and affirmative action, and said McCain and Palin, both opponents of abortion, could put two more conservative justices on the Supreme Court.

"I would have difficulty with two more conservative appointments to the Supreme Court, but that's what we'd be looking at in a McCain administration," Powell said.

Powell chaired the Joint Chiefs of Staff, the nation's top military post, during the first Gulf war under President George H.W. Bush. As secretary of state, he helped make the case before the United Nations for the U.S.-led invasion of Iraq, launched in March 2003.

Powell said the nation's economic crisis provided a "final exam" of sorts for both candidates, suggested McCain had failed the test.

"I found that he was a little unsure as to how to deal with the economic problems that we were having," Powell said. "Almost every day there was a different approach to the problem and that concerned me, sensing that he doesn't have a complete grasp of the economic problems that we had."

In contrast, Powell said Obama "displayed a steadiness, an intellectual curiosity, a depth of knowledge and an approach to looking at problems ... . I think that he has a, a definitive way of doing business that would serve us well." - AP

melamine test negative 18 producs

2008-10-20T06:17:00.000-07:00

MANILA, Philippines – The Health Department (DOH) on Monday announced that 18 canned meat products sold in the local market were tested negative for melamine contamination, a GMA Flash Report said.

Based on the laboratory test results from the National Meat Inspection Services (NMIS) as of October 17, the 18 melamine-free canned meat products are:

*Argentina Corned Beef Chunky, 190 grams;

*Chang Long Pork Luncheon Meat, 170 grams;

*Greatwall Brand Premium Ham Luncheon Meat, 340 grams;

*Gulong (China Well-Known Mark) Pork Luncheon Meat, 340 grams;

*Liberty Pork Luncheon Meat, 375 grams;

*Maling Canned Pork Luncheon Meat, 397 grams;

*Maling Chunky Corned Beef, 150 grams;

*Maling Pork Luncheon Meat, 170 grams;

*Maling Pork Luncheon Meat, 397 grams;

*Maling Premium Pork Luncheon Meat, 397 grams;

*Maling Vienna Sausage, 140 grams;

*Narcissus Brand Pork Mince with Bean Paste, 185 grams;

*Narcissus Brand Premium Luncheon Meat, 397 grams;

*Narcissus Brand Spiced Pork Cubes, 142 grams;

*Narcissus Brand Stewed Pork, 397 grams;

*Purefoods Chinese Style Luncheon Meat, 165 grams;

*Purefoods Corned Beef, 210 grams; and

*Shanghai Brand Chinese Luncheon Meat (New Budget Size), 165 grams.

The NMIS started testing canned meat products from China last week for possible contamination of the kidney stone-causing chemical.

For her part, Bureau of Food and Drugs (BFAD) director Leticia Gutierrez said they expect the testing for canned meat products to be completed within the week.

"Ito na yung bulk. Kung meron mang natitira samin siguro more than 10 na lang," Gutierrez said in an interview over radio dzBB.

"Within the week baka matapos kami… Ongoing yung test," she added.

The Bureau of Food and Drugs (BFAD) through the DOH had earlier released four installments of its laboratory testing results on China-made milk and milk-based products for melamine content.

BFAD found 103 milk and milk-based products to be melamine-free, but confirmed melamine content in four products. Products that tested positive for melamine included: Lotte Strawberry Snack Koala Biscuit, JollyCow Slender High Calcium Low Fat Milk (more calcium & Vitamin D) 1 Liter, Greenfood Yili Fresh Milk, and Mengniu Drink.

The melamine scare erupted in September when health officials in China reported 54,000 illnesses, including four infant deaths, due to kidney stones and other renal failure resulting from milk tainted with melamine. source

Work-related stress

2008-10-19T22:13:00.000-07:00

MANILA, Philippines - Work-related stress is the top reason driving employees away from a company, the latest study by global consulting firm Watson Wyatt Worldwide showed.

The consulting company urged human resources executives to consider whether the reason for the turnover rate is the level of stress that employees face in their jobs.

In its Global Strategic Rewards Survey, Watson Wyatt cited that the main reason that employees leave their firm is stress. However, company management has placed low importance in reducing the stress levels of their employees.

Rachelle Arcebal, Watson Wyatt strategic rewards practice leader, noted that managers usually “underestimate employee stress levels as drivers of turnover."

She added that although base pay is still the top drawer and retention-driver among companies in the region, this is usually overshadowed by work stress on employees.

The findings were the result of the study in the Asia-Pacific region, where 450 companies covering 8,000 employees participated in April and May of this year. Of the 450 companies, 12 percent were from the Philippines.

The entire poll, however, covered 1,389 companies with 15 million employees in 37 countries.

The complete study, which will be released later this year, is an annual global survey done by Watson Wyatt to find out how companies in different parts of the world address issues on how to attract, retain, manage and reward workers.

The research showed that besides basic pay, company reward programs, quality of the work environment, rotational assignments, periodical cash incentives, merit increases, career development and training are the reasons why employees are attracted to a company and keep them loyal to it.

Laura Sejen, Watson Wyatt Global Director of Strategic Rewards, said that despite the global economic turmoil, companies revealed that they are finding it difficult to attract and retain critical skills and top-performing employees.

Unlike their American counterparts, Asia-Pacific employers prefer other measures than to downsize their workforce as a way to keep the company afloat during hard times.

She said this was the lesson learned by Asia-Pacific firms in the aftermath of the Asian Financial Crisis in the 1990s, where they let people go.

Sejen noted that Asia-Pacific companies preferred moves were to restructure organization, freeze hiring and slow down rate of salary increase.

Sejen said Asia-Pacific companies learned that upon a recovery in the economy, it would be more expensive for them to recruit and train employees again instead of keeping their workforce. -

Oil rises to $73 on expectation of OPEC cut

2008-10-19T22:11:00.000-07:00

SINGAPORE - Oil prices rose to $73 a barrel in Asia on Monday on expectations that OPEC will cut production quotas at an extraordinary meeting later this week.

Light, sweet crude for November delivery rose $1.16 to $73.01 a barrel in electronic trading on the New York Mercantile Exchange by midday in Singapore. The contract Friday gained $1.53 to settle at $71.38.

Chakib Khelil, president of the Organization of Petroleum Exporting Countries, said Sunday that members plan to announce a "substantial" cut at a meeting that begins Oct. 24 in Vienna.

Khelil, who is also Algeria's energy minister, said OPEC may cut output again at a meeting in December, and that the group considers the oil market oversupplied by about 2 million barrels a day, Khelil said.

Venezuelan President Hugo Chavez said Sunday he would like prices between $80 and $90 a barrel.

"The market is factoring in a big cut. It will likely be as much as 2 million barrels," said Mark Pervan, senior commodity strategist with ANZ Bank in Melbourne. "I think they will go pretty large just to change the sentiment."

Investors largely ignored an OPEC output reduction of about 520,000 barrels a day last month, focusing instead on weakening demand.

Fears that turmoil in global financial markets will spark an economic slowdown in developed countries has helped push prices down from a record $147.27 in July.

Last week, news of rising US oil inventories, falling retail sales and slowing housing starts fueled concerns that the world's largest economy may face a major recession that will undermine demand for crude.

"Oil demand in the US will be a bellwether," Pervan said. "If the US, Europe and Japan go into a major recession, there's no reason we can't see $35, $40 a barrel."

In other Nymex trading, heating oil futures rose 1.65 cents to $2.15 a gallon, while gasoline prices gained 2.44 cents to US$1.69 a gallon. Natural gas for November delivery jumped 14 cents to US$6.93 per 1,000 cubic feet.

In London, November Brent crude was up 95 cents to US$70.55 a barrel on the ICE Futures exchange.

British princes begin motorbike rally for charity

2008-10-18T08:01:00.000-07:00

PORT EDWARD, South Africa – British princes William and Harry set off Saturday on a grueling 1,000-mile motorcycle rally in South Africa to raise money for charity.

The pair joked that they had a wager on which royal tumbles from their bike the most during the eight-day off-road adventure.

"It's going to be very challenging and we're expecting to fall off many a time," said Harry, 24, before more than 80 riders set off from the holiday resort of Port Edward on South Africa's southeast coast.

A crowd cheered the riders as they hit the winding dust road bound for the southern coastal city of Port Elizabeth.

William, 26, who next year will begin training to be an RAF search and rescue helicopter pilot, said he and his brother had decided to take part in the rally "because it's a mixture of adventure and charity."

Funds raised through the princes' participation in the Enduro Africa 08 event will be divided among UNICEF, the Nelson Mandela Children's Fund and Sentebale, a charity established by Prince Harry to help disadvantaged children in Lesotho.

Harry, an officer in the Household Cavalry regiment, said he was looking forward to spending some rare time together with his brother.

Both brothers ride high performance motorbikes when in the UK, but William said they had not trained for the event.

"We both ride bikes at the moment but on-road biking is completely different. All the off-road stuff is up hills, down slopes, across rivers and is all rocky and hilly," William said.

Questioned about which royal was the better rider, William said, diplomatically, that "we're both quite good actually," while his brother quipped: "We'll have to wait and see in a couple of days time."

Hawaii ending universal child health care

2008-10-18T08:00:00.000-07:00

Hawaii is dropping the only state universal child health care program in the country just seven months after it launched.

Gov. Linda Lingle's administration cited budget shortfalls and other available health care options for eliminating funding for the program. A state official said families were dropping private coverage so their children would be eligible for the subsidized plan.

"People who were already able to afford health care began to stop paying for it so they could get it for free," said Dr. Kenny Fink, the administrator for Med-QUEST at the Department of Human Services. "I don't believe that was the intent of the program."

State officials said Thursday they will stop giving health coverage to the 2,000 children enrolled by Nov. 1, but private partner Hawaii Medical Service Association will pay to extend their coverage through the end of the year without government support.

"We're very disappointed in the state's decision, and it came as a complete surprise to us," said Jennifer Diesman, a spokeswoman for HMSA, the state's largest health care provider. "We believe the program is working, and given Hawaii's economic uncertainty, we don't think now is the time to cut all funding for this kind of program."

Hawaii lawmakers approved the health plan in 2007 as a way to ensure every child can get basic medical help. The Keiki (child) Care program aimed to cover every child from birth to 18 years old who didn't already have health insurance — mostly immigrants and members of lower-income families.

It costs the state about $50,000 per month, or $25.50 per child — an amount that was more than matched by HMSA.

State health officials argued that most of the children enrolled in the universal child care program previously had private health insurance, indicating that it was helping those who didn't need it.

The Republican governor signed Keiki Care into law in 2007, but it and many other government services are facing cuts as the state deals with a projected $900 million general fund shortfall by 2011.

While it's difficult to determine how many children lack health coverage in the islands, estimates range from 3,500 to 16,000 in a state of about 1.3 million people. All were eligible for the program.

"Children are a lot more vulnerable in terms of needing care," said Democratic Sen. Suzanne Chun Oakland. "It's not very good to try to be a leader and then renege on that commitment."

The universal health care system was free except for copays of $7 per office visit.

Families with children currently enrolled in the universal system are being encouraged to seek more comprehensive Medicaid coverage, which may be available to children in a family of four earning up to $73,000 annually.

These children also could sign up for the HMSA Children's Plan, which costs about $55 a month.

"Most of them won't be eligible for Medicaid, and that's why they were enrolled in Keiki Care," Diesman said. "It's the gap group that we're trying to ensure has coverage."

___

On the Net:

Hawaii Medical Service Association: http://www.hmsa.com/

Bush says economy will bounce back in the long run

2008-10-18T07:56:00.000-07:00

WASHINGTON – President Bush on Saturday sought to reassure Americans about the cost and scope of the nation's financial bailout plan and said that in the long run "our economy will bounce back."

Bush, in his weekly radio address, acknowledged that people are concerned about their finances and, while he offered assurances about an eventual recovery, he did not say when that would happen.

Since Oct. 9, 2007, when the Dow topped 14,000, investors have lost $8.3 trillion from pension funds, college savings plans, 401(k)s and other investments.

"The federal government has responded to this crisis with systematic and aggressive measures to protect the financial security of the American people," Bush said. "These actions will take more time to have their full impact. But they are big enough and bold enough to work." Congress gave Bush a $700 billion plan to buy bad assets from banks and other institutions to shore up the financial industry.

Bush was to meet later Saturday at Camp David for talks on the economy with French President Nicolas Sarkozy and European Commission President Jose Manual Barroso, who were to stop in the United States on their way home from a summit in Canada.

In the Democrats' weekly radio address, Rep. Rahm Emanuel used the occasion for campaign criticism against John McCain, the Republican presidential nominee.

"On weekends like this, maybe you're like me and my neighbors, working around the house, trying to save a few bucks," said Emanuel, the chairman of the House Democratic Caucus. "My neighbors and yours are struggling in this economy. They're working as hard as they know how, but the economic policies that George Bush proposed and John McCain supports have left them working harder, paying more and making less."

White House press secretary Dana Perino said the Camp David meeting was not expected to produce any new policy decisions or the date or place for a planned meeting of leaders of major economic powers, the so-called G8. Instead, she said it would focus on efforts extending as far back as April on coordination for financial stability through measures such as bank disclosures, accounting rules at credit rating agencies, capital standards and asset valuation.

The bailout plan runs counter to Bush's oft-stated commitment to free enterprise and the president said he knew many Americans have reservations about the government's approach, particularly the Treasury's planned injection of up to $250 billion in U.S. banks in return for partial ownership stakes, something that hasn't been done since the Great Depression of the 1930s.

"As a strong believer in free markets, I would oppose such measures under ordinary circumstances," the president said. "But these are no ordinary circumstances. Had the government not acted, the hole in our financial system would have grown larger, families and businesses would have had an even tougher time getting loans and ultimately the government would have been forced to respond with even more drastic and costly measures later on."

Bush said the government's involvement was limited in scope and Washington will not exercise control over any private firm and federal officials will not have a seat on bank boards. He also said he believed that the final cost to taxpayers would be significantly less than the initial investment as the housing market recovers. source

Democrat Barack Obama

2008-10-17T07:06:00.000-07:00

TALLAHASSEE, Fla. – Democrat Barack Obama poured millions of dollars into Florida over the summer but couldn't close in on John McCain's comfortable lead. The Republican didn't flinch, confident the state was trending toward the GOP eight years after it gave George W. Bush the White House.

Then the mortgage crisis hit, jolting the high-foreclosure state — and its presidential politics.

Now, the coveted state with 27 electoral votes is a tossup.

And, Republicans and Democrats alike say getting voters to the polls is the key.

"We're feeling urgent," said Obama deputy campaign manager Steve Hildebrand, who is now working out of Miami, signaling just how hard the campaign is competing. "We've got a lot to prove."

Republicans concede Obama has more money, staffers and offices in Florida but say the GOP has a better battle-tested operation with experienced staffers and volunteers.

"They've been in tough elections, close elections every two years for 10 years," said Mike DuHaime, McCain's political director. He said he's also heartened by the fact that Republicans have requested about 200,000 more absentee ballots than Democrats, who lead in registrations.

With the Nov. 4 election approaching, most polls show the race is very close.

Florida is critical to McCain's strategy of winning the requisite 270 Electoral College votes; Bush won twice, though in a disputed election the first time, and McCain is trying hard to defend Florida against Obama's onslaught lest he has to make up the 27 electoral votes he would lose. Obama could lose Florida and still be in a stronger position to cobble together wins in enough states for victory.

McCain campaigns in Florida on Friday. Obama joins former rival Sen. Hillary Rodham Clinton in the state on Monday.

They're campaigning in a state that is far from homogeneous.

Urban South Florida favors Democrats, largely rural north Florida identifies more with the South and votes conservative and the Interstate 4 corridor that splits the state from Tampa through Orlando to Daytona Beach is where both parties fight aggressively for independents and crossover voters.

Florida has a high population of transplants from the Northeast and Midwest; immigrants from Latin America, Haiti and elsewhere and a large number of Jewish voters. Retirees flock here and the state has a lot of veterans, many of whom stay after serving in the state.

All that means Florida is a difficult place to campaign. And it's also expensive, with its many media markets.

With about three weeks to go in the campaign, Obama had spent more than $21 million on advertising in Florida for the general election, compared with about $5 million by McCain, according to TNS Media Intelligence/Campaign Media Analysis Group, a firm that tracks political advertising.

Obama went up on the air weeks before McCain with advertising and built a grass-roots team that overshadows John Kerry's efforts four years ago and Al Gore's in 2000. The Democrat entered the general election at somewhat of a disadvantage, having refrained from campaigning in the state during the Democratic primary because of a party dispute over the primary's timing and the counting of the state's convention delegates.

McCain, conversely, waited until the fall to put the bulk of his resources into Florida, given polls showing him leading in a state that has become difficult for Democrats to win. It has only supported one Democratic presidential candidate since backing Jimmy Carter in 1976 — Bill Clinton in 1996.

"There was some assumption that Florida was going to be fairly solid on their side and maybe they didn't anticipate this being as close," Republican Party of Florida Chairman Jim Greer said of McCain's advisers.

Unlike Obama and the Democratic primary, McCain had lavished Florida with attention during the GOP primary and his win here over Mitt Romney ensured he got the nomination. The Republican also has personal ties to the state from his Navy days and is close to the popular Gov. Charlie Crist. He's also well-liked in the influential Cuban-American community in south Florida.

"Even though Republicans are in the White House and a Republican is in the governor's mansion, this is definitely different than it was four years ago," said Brett Doster, Bush's Florida political director in 2004 and during the 2000 election that led to a recount and ended with the Supreme Court ruling in the GOP's favor.

In 2004, the state's economy was still soaring. Unemployment was low, the housing market hot. Jeb Bush, the president's brother, was the state's popular governor and Republicans were winning the argument with Florida voters on national security and Iraq.

This fall, the economy dominates the election. Florida's unemployment is higher than the national average and the highest it's been in more than 13 years. The state has one of the worst foreclosure rates in the nation.

Among the unknowns that will shape the race in the final weeks:

_Can Obama win over Jewish voters?

_Will seniors reject the idea of another Republican in the White House as the Wall Street chaos batters their retirement accounts?

_How will non-Cuban Hispanics vote?

Oil tumbles below $70 on big jumps in US crude supplies

2008-10-16T19:24:00.000-07:00

NEW YORK - Oil prices have tumbled below $70 a barrel after the government reported bigger-than-expected jumps in US crude and gasoline inventories. Investors took the news as more evidence that an economic slowdown is curbing demand for energy.

In its weekly report, the Energy Information Administration says crude stocks rose by 5.6 million barrels last week, well above the 3.1 million barrel increase expected by analysts surveyed by energy research firm Platts.

The EIA also says gasoline stock rose by 7 million barrels last week, more than double the build analysts had expected.

Light, sweet crude for November delivery was down $4.61 to $69.93 a barrel on the New York Mercantile Exchange, crude's lowest trading level in nearly 14 months.

Oil prices have now dropped by more than 50 percent since peaking at $147.27 on July 11. - source

Analysts: al-Qaida has funds despite economic woes

2008-10-16T19:19:00.000-07:00

CAIRO, Egypt - Al-Qaida, which gets its money from the drug trade in Afghanistan and sympathizers in the oil-rich Gulf states, is likely to escape the effects of the global financial crisis.
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One reason is that al-Qaida and other Islamic terrorists have been forced to avoid using banks, relying instead on less-efficient ways to move their cash around the world, analysts said.

Those methods include hand-carrying money and using informal transfer networks called hawalas.

While escaping official scrutiny, those networks also are slower and less efficient — and thus could hamper efforts to finance attacks.

"It would be inconceivable that large amounts of (terror-linked) money would transit through the formal financial system, because of all the controls," said Ibrahim Warde, an expert on terrorist financing at The Fletcher School at Tufts University.

The question of where al-Qaida and its sympathizers get their money has long been crucial to efforts to prevent terrorist attacks. A 2004 U.S. investigation found that banks in the United Arab Emirates had unwittingly handled most of the $400,000 spent on the Sept. 11 attacks.

After the attacks, the U.S. made an aggressive push to use law enforcement techniques to disrupt terrorist financing networks and worked with allies to improve their own financial and regulatory institutions.

Al-Qaida and the Taliban have benefited from the drug trade's growth in Afghanistan after the U.S.-led invasion in 2001, and the booming business likely will not be affected by the global slowdown.

Opium cultivation has fallen slightly this year but is still about 20 times higher than in 2001, according to the U.N. Office on Drugs and Crime.

Former U.S. drug czar Gen. Barry McCaffrey, who recently consulted with U.S. and NATO officials in Afghanistan, issued a report in July saying al-Qaida and the Taliban "are principally funded by what some estimate as $800 million a year derived from the huge $4 billion annual illegal production and export of opium/heroin and cannabis."

In addition, wealthy donors and Islamic charities in the oil-rich Gulf, especially Saudi Arabia, continue to be "one of the most significant sources of illicit financing for terrorism," said Matthew Levitt, a former Treasury Department terrorism expert now with The Washington Institute for Near East Policy.

The Saudis have long insisted they are doing all they can to rein in terror financing, and U.S. officials have praised their efforts.

But, under a system known as "zakat," wealthy Muslims are required to give a portion of their money to the poor. Much of that is given to Islamic charities, and U.S. officials say at least some of that money continues to be channeled to al-Qaida and other terrorist groups.

Saudi Arabia and other Gulf countries have benefited in the last two years from a surge in oil prices from about $60 per barrel at the beginning of 2007 to more than $145 per barrel in the middle of this year. Prices have fallen almost 50 percent in the last few months in response to the global financial crisis, but not before generating hundreds of billions of dollars to oil producers.

Levitt said the covert nature of terrorist financing makes it difficult to determine a direct correlation between rising oil revenues and the amount of cash al-Qaida has on hand.

But "it stands to reason that if there is more oil revenue, there will be more revenue for all kinds of things licit and illicit," he said.

Al-Qaida and other extremist groups have gloated in recent weeks about the West's financial woes, painting the crisis as either divine punishment for supposed wrongs or the last gasps of a dying empire.

An American al-Qaida member, Adam Gadahn, said in a video released this month that "the enemies of Islam are facing a crushing defeat, which is beginning to manifest itself in the expanding crisis their economy is experiencing."

Members of the militant Palestinian group Hamas and hard-liners in Iran also have cheered the economic turmoil.

Iran is thought to be the last major government supporter of terrorist groups. The majority Shiite country is not believed to finance al-Qaida, a Sunni group, but does support the militant Hezbollah faction in Lebanon, which engaged in war with Israel in 2006.

Iran denies the financial crisis is hurting its economy, but falling oil prices will cut into its crude sales, which make up 80 percent of the government budget. It is unclear how that will affect support to Hezbollah.

Despite the apparent glut in potential money for terrorist groups, Levitt believes anti-terrorism efforts have hampered their ability to transfer money where they want.

Levitt points to several messages from senior al-Qaida leaders in Pakistan and Afghanistan intercepted by the U.S. or released by the terrorist group itself, asking Gulf supporters for more help because of funding shortfalls. The al-Qaida leader in Afghanistan, Mustafa Abu al-Yazid, appeared in a May 2007 video saying "the mujahedeen of the Taliban number in the thousands, but they lack funds."

But Warde and other analysts are not convinced al-Qaida is really hurting.

"Anybody who is involved in fundraising of any sort is never going to say we have enough money, so I think it is a silly argument to say that because there is this intercept ... it is proof that everything we've done has succeeded brilliantly," said Warde. source