Wednesday, May 16, 2007

The Thomson Corporation and Reuters Group PLC announced Tuesday that they have agreed to combine the two companies. The boards of both Thomson and Reuters will recommend the merger to their shareholders.

The Canadian Thomson-family holding company Woodbridge, which controls 70% of Thomson, has agreed to vote in favour of the deal and the Reuters Founders Share Company, which controls a special share in Reuters, will also support the merger.

Based on the TSX CA$46.36 closing share price of Thomson on May 14, 2007, each Reuters share would be valued at 691 pence and, therefore, the full capital of Reuters valued at approximately £8.7 billion. Cash requirements for the deal are to be provided by Thomson. Woodbridge will own approximately 53 percent of the combined company, other Thomson shareholders 23 percent and Reuters shareholders about 24 percent.

The merger arrangement will leave two separate companies that will be operated as a single entity. The boards of the two companies will be identical as will the senior executive management team. Thomson will be renamed to Thomson-Reuters Corporation, and will be listed on both the TSX and the NYSE. Thomson-Reuters PLC will list on the London Stock Exchange and the NYSE.

Reuters current CEO, Tom Glocer, will become CEO of the combined company while Thomson President and CEO Richard J. Harrington will retire at the completion of the merger.

Thomson has currently 32,000 employees worldwide, with operations in 37 countries and revenues of US$6.6 billion in 2006. Thomson’s major business operations centre around financial information and legal services, with smaller ventures in tax accounting, health care, and the scientific field. Thomson is headquartered in Stamford, Connecticut, in the United States.

Reuters is one of the world’s largest news agencies, with a total of 16,800 staff in all divisions, but derives more than 90 percent of its revenue from its financial service business. It is the merger of Thomson and Reuter’s financial services divisions that may have been the genesis of the talks. It has been suggested that both companies wanted a better economy of scale to compete with Bloomberg, the American financial services giant.

“We are enormously proud of the evolution of The Thomson Corporation and the value it has created for all our shareholders,” said David Thomson, Chairman of Thomson. “We recognize the rich history of Reuters and are committed to uphold the Reuters Trust Principles.”

The chairman of Reuters, Niall FitzGerald, expressed his satisfaction with the merger. “The shared expertise and complementary strengths of these two companies makes for a strategically compelling and financially attractive combination,” said FitzGerald in a joint press release. “I am especially proud that Reuters journalism will continue to be governed by the powerful Reuter Trust Principles of independence, integrity and freedom from bias.”

The new company is projecting efficiencies of greater than US$500 million per year, by the end of the third year after closing the deal.

Criticisms were raised by Reuters journalists, who voiced concerns in an open letter to the Reuters Founders Share Company. They worried whether or not “a reconstituted Reuters would maintain the high standards of journalism and the integrity, independence and freedom from bias that have shaped the company’s 156-year-old reputation.”

It is expected that the merger will draw the attention of regulators due to the size and nature of the transaction. “Antitrust authorities in Europe and the U.S. are almost certain to apply a more detailed and lengthy review of the acquisition than is typical, because of the limited number of companies that supply prices, data, news and financial tools,” said Simon Baker, analyst, Credit Suisse in London.

Thursday, November 16, 2006

Buffalo, New York — A proposed hotel that was supposed to be built at the corner of Elmwood and Forest Avenues in Buffalo, New York is apparently off the table. The former proposal was going to be called The Elmwood Village Hotel and would have consisted of 72 rooms and cost between $7 to $10 million American dollars to build.

Today several unknown individuals were seen removing a sign that was dedicated to the “Elmwood Village Gateway,” which signifies the beginning of the Elmwood Village at the formerly proposed project’s location.

Nearly an hour later the men replaced the sign with a different and unexpected sign: “For Sale: 5 commercial parcels and 1 carriage house, By: Owner.” Those 5 “parcels” are 1109-1121 Elmwood and 999 Forest Avenue, which is located in an illegal alley, according to the City of Buffalo, behind the 5 other properties on Elmwood. Hans Mobius owns all properties named in the sale.

Sam Savarino, CEO of Savarino Companies never owned the properties and has repeatadly told Wikinews in exclusive interviews that he still had a “contract to buy the properties” and on October 2, 2006 told Wikinews in an exclusive interview that he “extended” the “agreement to purchase the property[s] and will have it under contract for what we hope is a sufficient period of time.”

“He [Mobius] is undoubtedly concerned because he has lost some tenants and is a bit impatient. I think he has properly portrayed the situation,” said Savarino in an exclusive interview with Wikinews.

Savarino also says that there may be “legal issues” to work out now, before anything else can move forward, regarding the proposal.

“There are some legal complexities that must be sorted out before anything can happen there,” added Savarino.

The welcome sign was; however, not removed entirely. The sign was placed, facing the same direction of north, on the side of the Forest Plaza Art Gallery, a new art gallery located on the corner of Forest and Elmwood.

Nancy Pollina, owner of Don Apparel which was located at 1109 Elmwood, but closed on October 14, 2006 considers this a possible “victory” in regards to the lawsuit filed against the hotel to stop it from being built, alleging that several laws were broken, including not performing an Environmental Impact Study before the proposal was approved by the city, during its approval and the proposal was “rushed.” Patricia Morris, who operates Don Apparel with Pollina, Angeline Genovese and Evelyn Bencinich, owners of residences on Granger Place which abut the rear of the proposed site, Nina Freudenheim, a resident of nearby Penhurst Park, and Sandra Girage, the owner of a two-family residence on Forest Avenue less than a hundred feet from the proposed hotel’s sole entrance and exit driveway, were also plaintiffs in the lawsuit. They filed the suit with a lawyer representing them, Arthur J. Giacalone, on April 25, 2006 in New York State Supreme Court, but the case has never gone to a courtroom.

Giacalone believes that a press release issued in July regarding the project was nothing but a statement to “save face,” but that the placement of the for sale sign might be a way of convincing Savarino to speed up the sale of the properties.

“I thought all along that Savarino’s July press release might be no more than an effort to save face. But we have no way of knowing. Similarly, Mobius might have put the for-sale sign up in an attempt to pressure Savarino into closing the deal. There’s no way to tell,” said Giacalone in an exclusive interview with Wikinews.

In regards to the lawsuit, Giacalone thinks it may now be in “limbo.”

“The lawsuit still sits in limbo,” added Giacalone.

Monday, April 24, 2006

Investors are rushing to fund new ventures in renewable energy as Americans continue to see rising gasoline prices at the pump. The price for crude oil continues to rise to new record highs ($75 per barrel of crude oil on NYMEX as of Friday’s close). According to the results of a survey reported by the San Francisco Gate, in the 1st Quarter of 2006 investments in the clean technology sector has increased by 13% to $3.36 Billion in the US. In addition to attracting venture capital, clean technology companies are receiving a buzz from high profile investors.

Bill Gates, Founder of Microsoft, announced last week that his venture group (Cascade Investments) initiated the purchase of 25.5% ownership in Pacific Ethanol Inc. Pacific Ethanol is an ethanol production company that plans to expand operations by opening a new facility in California. Gates is not alone in high profile investments into the clean energy market, Bob Metcalfe (Founder of 3COM and Inventor of Ethernet), who acts as the managing partner of Polaris Ventures, announced the VC’s first investment into the energy market. Polaris, which manages over $3 Billion in funds, invested $6.8 million into GreenFuel Technologies Corporation of Cambridge, MA. GreenFuel Technologies is an emissions to biofuels company, that utilizes natural algae in their patented bioreactors to turn greenhouse gas emissions from power plants into rich bio fuel. Polaris’s investment into GreenFuel was part of the company’s $18 Million Series B financing round that also included a high profile venture capital investor: Draper Fisher Jurvetson. When asked about the new industry venture, Bob Metcalfe said, “Energy has got to be one of the top five problems the world faces, and it’s been frustrating to watch activists and politicians fail to solve the problem,…Now it’s time for the entrepreneurs and scientists to give it a try.”

According to the International Energy Association, demand for renewable energy fuels will more than quadruple in the next decade. The current jump in oil prices is fueling investment into this relatively new market as investors view clean technology as an emerging opportunity rather than a public relations campaign. As gasoline prices continue to rise, alternative fuels become respectively cheaper and more attractive. In his latest State of the Union Address, President Bush outlined a plan to direct new investment into ethanol production and other clean technologies. According to a poll conducted by CBS News, Americans now see gas prices as one of their top three main concerns. With pressure coming from constituents, politicians are beginning to exert pressure on new spending on renewable technology to promote energy independence. Yet another front in this debate is that of environmental concern. With global warming on the rise, and many European governments eagerly searching for a Carbon Dioxide solution, the promise of reducing these emissions by 46% (as claimed by GreenFuel’s bio reactor system) begins to resonate as a promising environmental and business opportunity.

Wednesday, August 5, 2009

Environmentalists in Brazil are urging the country’s residents to urinate in the shower while washing themselves, to help conserve water and save the rainforest. Television ads being aired in the country claim that by doing so, the nation could save over 1,000 gallons of water per household each year.

SOS Mata Atlantica ran the ad campaign in an attempt to use comedy to get people to reduce the amount of water they use. “[The ad is] a way to be playful about a serious subject,” said Adriana Kfouri, a spokesperson for Atlantica.

The animated ad narrated by children shows people, including a trapeze artist, an alien and dancers, all taking a shower while at the same time, urinating in it. The ending of the ad then states, “Pee in the shower! Save the Atlantic rainforest!”

Ken Livingstone, former mayor of London, England, proposed a similar campaign in 2006. He said urine should be classified as a “green waste” and that “there is no earthly reason that you need to flush the loo if you have merely urinated. That’s a huge saving of water.”

Friday, April 8, 2005

A Virginia, USA jury found a man, described as one of the top ten spammers in the world, guilty on Friday of the felony crime of using an alias to send massive bulk e-mailings. The 9 year prison sentence handed down by the jury was put on hold by the Loudoun County Circuit Judge Thomas Horne, allowing the perpetrator, Jeremy Jaynes of Raleigh, N.C., to seek an appeal.

Jaynes, who used the alias “Gaven Stubberfield” as well as others, peddled junk products and pornography. Prosecutors say he grossed up to $750,000 a month by sending at least 10 million emails a day using 16 high-speed lines.

The case was prosecuted in Virginia because it is the home to the leading internet service provider AOL, the company who instigated the charges. This is the first time a conviction has been gained using the legislation enacted in 2003 to curb bulk e-mail, aka spam, from unsolicited distribution into users mailboxes.

Jaynes remains free on a $1 million bond while his case is appealed. Prosecutors differed with his attorneys on the prospects of Jaynes winning his appeal.

His attorney, David Oblon, though never denying that his client was in the “marketing” business, argued that nine years was too long to sentence an out of state resident for a law that had taken effect just two weeks earlier.

“We have no doubt that we will win on appeal,” Oblon told reporters. “Therefore any sentence is somewhat moot. Still, the sentence is not what we recommended and we’re disappointed.”

Prosecuter Lisa Hicks-Thomas said she was pleased with the outcome and confident the law would be upheld on appeal.

Friday, November 7, 2014 Albuquerque, New Mexico — Online entertainment is a booming market, and plenty of players are making their play; back in March of this year The Walt Disney Company bought the multi-channel network Maker Studios. What is web entertainment, and the arts therein? And, who are the people venturing into this field? Wikinews interviewed Mario Lucero and Isabel Ruiz, the founders of Heaven Sent Gaming, a small entertainment team. This group has been responsible for several publications, within several different media formats; one successful example was aywv, a gaming news website, which was #1 in Gaming on YouTube in 2009, from September to November; Heaven Sent Gaming was also the subject of a referential book, released in 2014, entitled Internet Legends – Heaven Sent Gaming.

Thursday, June 23, 2011

Retired West Virginia engineer Lowell Jackson “Jack” Fellure won the presidential nomination of the Prohibition Party yesterday at the party’s National Convention in Cullman, Alabama. He won on the second ballot, defeating Thompson Township tax accessor James Hedges of Pennsylvania, who initially ran unopposed. Party Chairman Toby Davis of Mississippi received the vice presidential nomination.

The Prohibition Party is the third oldest existing political party in the United States, having been established in 1869. It reached its height of popularity during the late 19th century. As its name suggests, the party heavily supported the Eighteenth Amendment to the United States Constitution, which banned the sale of alcohol, and resulted in the US period known as Prohibition (1919–33). The party has declined since the repeal of Prohibition in 1933, but has continued to nominate candidates for the presidential election.

Fellure, 79, has run for president in every election since 1988, though usually as a Republican. This run marks his first as a member of the Prohibition Party. On his campaign website, he cites the Authorized 1611 King James Bible as his presidential platform, and calls for the teaching of the Bible in public schools, criminalization of homosexuality, and the elimination of abortion, the liquor industry and pornography. On economics, he supports reducing taxes and balancing the federal budget.

Hedges, the first Prohibition Party member elected to public office since 1959, announced his campaign in February 2010, and was the only candidate until last month. According to Vice Chairman June Griffin: “While Jim has contributed valuable resources to this Party…his positions regarding Environmentalism and passivity toward war forced me to vote for Jack Fellure. As well, his insistence on a moratorium on the building of nuclear plants caused much unrest among the membership. Yet he prevailed to install this plank.”

The ten voting Prohibition Party convention delegates and a few guests met for the National Convention, which began on Monday at the Holiday Inn Express in Cullman. Tuesday featured a short greeting from Cullman Mayor Max Townson, followed by addresses from Libertarian consultant Stephen P. Gordon, Ballot Access News publisher Richard Winger, and Eunie Smith of the Eagle Forum.

Gordon, who previously worked as the e-Campaign manager for the 2008 Bob Barr presidential campaign, jokingly commented that his speech “stunk”. He opened his address with the joke that “the way to pick out the libertarian at a Prohibition Party function is that I’m the one wearing the Jerry Garcia tie.” He discussed how third party candidates could utilize new media to their advantage, but avoided any ideological topics.

Winger, an expert on election law, discussed ballot access and the history of the Prohibition Party. He notably explained how the party had cost the Republicans presidential victories in the elections of 1884 and 1916, which forestalled the passage of the Eighteenth Amendment by Republicans, who wanted to do away with the alcohol issue. Gordon later commented that Winger’s speech was well-received by the audience.

After Winger’s speech, the convention broke for lunch. Afterwards, Smith, the widow of former Congressman Albert L. Smith, Jr., focused on immigration and education in her address. When asked about the Eagle Forum’s participation in the fight against alcohol, she commented that the group was focused on more pressing issues such as gambling.

After the nomination, some party members traveled to the grave of Sidney Catts in Florida. Catts, who died in 1936, was the first and only state governor elected from the Prohibition Party.

The party will now begin ballot access drives in Louisiana, Mississippi, Florida, New Jersey, Utah, Colorado, Tennessee and Arkansas. In 2008, the late Gene Amondson appeared on the ballot in Colorado, Florida and Louisiana and picked up a total of 653 votes.