Monday, February 5, 2007

The return of Michael Dell as the Chief Executive Officer of computer making giant Dell marked a series of changes. In his memo to the employees of the company he founded, Michael Dell said that there will be no bonuses and that the company will reduce its management in an effort to cut costs.

2006 was not a financial success for Dell. It lost its leading market position to Hewlett-Packard, and the SEC started investigating Dell for possible accounting improprieties. Several executives also left during recent months.

The daily newspaper Austin American-Statesman reported the Rollins memo and posted on its website a copy of the e-mail. The e-mail was confirmed by Dell’s spokesman for the Associated Press.

Michael Dell’s memo also outlined the fact that all bonuses would be replaced by so-called “limited discretionary awards”. The beneficiaries of such awards will be all but senior management. There will also be a shortening in the period of stock investing.

Wednesday, March 20, 2013

The British Chancellor of the Exchequer George Osborne delivered the budget today, an annually-held audit of the country’s finances deciding how taxpayers’ money should be spent. He set out plans to boost the housing market in his fourth budget, as well as stating the economy will grow by 0.6% — half his prediction four months ago.

George Osborne revealed plans to improve the housing market, including a “Help to Buy” shared equity scheme which would offer buyers who can place a 5% deposit on a new house, a 20% loan to buy it. He said: “This is a budget for those who aspire to own their own home”. He also offered a new Mortgage Guarantee, created in conjunction with mortgage lenders — the scheme would allow them to offer loans to homeowners without the need for a large deposit and offer guarantees to support up to £130bn of lending for three years beginning in 2014.

As a measure to attract investment to the British economy, he announced to reduce corporation tax from 21% to 20% taking effect from April 2015. The rate of corporation tax has fallen from 28% in 2010 to the current level of 21%. The United Kingdom is to have lower rates of corporation tax than the USA at 40%, France at 33%, and Germany at 29%.

The Office for Budget Responsibility (OBR) stated the government debt reduction programme to reduce the budget deficit will miss its targets. The government has forecast the total public sector debt will begin to fall by the financial year 2015/2016, while OBR says national debt will reach a high of 85.6% of GDP, £1.58 trillion, in 2016/17. Osborne defended the government efforts to reduce the deficit and said: “Our judgement has since been supported by the IMF, the OECD and the Governor of the Bank of England.”

In response to the Budget speech, the Leader of the Opposition Ed Miliband said: “At the worst possible time for the country. It’s a downgraded budget from a downgraded Chancellor […] Debt is higher in every year of this Parliament than he forecast at the last Budget. He is going to borrow £200 billion more than he planned.”

The Shadow Chancellor of the Exchequer Ed Balls said to The Independent, “They are borrowing £245bn more in this Parliament, we said all along …said this two years ago, if they had moved more quickly with a sensible, targeted package of measures to kick-start the economy, which would have meant at that time more borrowing for a VAT [Value Added Tax] cut to bring forward housing investment, then we would have got the economy growing and the deficit coming down.”

The Business Secretary Vince Cable told the BBC in an interview, the “age of austerity” would probably end within the current decade, but made no more definite forecast.

The head of the British Federation of Small Businesses, John Walker, said: “The Budget opens the door for small businesses to grow and create jobs. The Chancellor has pulled out all the stops with a wide ranging package of measures to support small business. […] [W]e are pleased to see the scrapping of the 3p fuel duty due in September”.

Len McCluskey, the General Secretary of Unite the Union, criticized the budget for not helping working families. He said: “This is a Budget for the few by the few that attacks the many. Millionaires are days away from getting a £40,000 tax cut from the Tories, but George Osborne is using the budget to attack hard-working public sector workers. The worst chancellor in British history has gone further by giving big business another tax cut while staff caring for the sick get pay cuts. […] [H]e should have raised the national minimum wage by £1 and drop the senseless plan to give millionaires a tax break in a few days’ time”.

Wednesday, May 16, 2007

New York City Mayor Michael Bloomberg is prepared to spend one billion dollars of his own money for a 2008 White House bid, the Washington Times reports, citing his friends and “close associates” .

However, Mayor Bloomberg yesterday made light of Senator Chuck Hagel‘s suggestion that Bloomberg could run as an independent with Hagel as running mate. Bloomberg has so far denied that he is running but has not ruled out the possibility either.

Media reports speculate that Bloomberg is considering a run if the Democratic and Republican nominees cater more to the parties’ bases, leaving room for an independent candidate who can attract moderate voters for both camps.

TIME magazine reports that Bloomberg was at first ready to consider spending US$500 million for a presidential run.

Michael Bloomberg could have more money than either party candidates, former FEC chairman Michael E. Toner told the Times. Those funds would come in handy to mobilize the thousands of petitions needed to qualify for a run in some states.

The Washington Times also has reports of a Bloomberg adviser saying some people involved with John McCain‘s Presidential Campaign are prepared to leave and join Bloomberg’s campaign if he does indeed run.

Bloomberg’s advisers have also said that they have been studying and learning from Ross Perot‘s Presidential campaign in 1992. They have called and talked with Perot’s former advisers and campaign workers to learn from their mistakes and experience.

Bloomberg made his fortune with his company Bloomberg L.P., a financial news and data company. Forbes magazine ranked him 44th on a list of wealthiest Americans and 142nd on a list of billionaires worldwide. His net worth is estimated at US$5.5 billion.

Friday, August 19, 2005

An explosion from an underground utility chamber in downtown San Francisco severely injured a woman and shattered a window at a Ralph Lauren clothing store shortly after 10:00 a.m. Pacific time Friday. According to a caller to KCBS radio, a woman was engulfed in flames after the explosion triggered a fire in the store. The fire was quickly put out.

A bomb squad is currently investigating the explosion, and the cause has yet to be determined. One official said the explosion may have been caused by an electrical transformer. A witness described a fireball coming out of the side of the building

Pacific Gas & Electric Co. company spokesman Paul Moreno has stated that “there was no indication of a gas leak.” Moreno also described the aftermath of the blast. “The explosion did displace manhole covers — two round steel ones — and it also displaced a concrete cover as well,” Moreno said.

Some accounts have described a rift in the sidewalk caused by the explosion below.

Construction worker Tom Demartini, who was sitting in his truck outside the Ralph Lauren store, stated he saw the sidewalk rise up six or seven inches. “It sounded like a big poof, then there was a lot of smoke,” Demartini said. “One woman looked like she was badly burned.”

The burned woman was taken to the emergency room at St. Francis Hospital. Hospital spokeswoman Linda Gillespie had no immediate comment on her condition. Her name was not released.

Workers in a nearby office building described how the blast shook their buildings and that they thought it was an earthquake. According to one woman, the elevator in her building stopped.

Scores of police have evacuated buildings several blocks around the explosion. Kearny street between Sutter and Market has been closed to both vehicles and pedestrians.

Thursday, April 17, 2008

Eric Bogosian is one of America’s great multi-dimensional talents. “There’s sort of three different careers, and any one of them could exist by itself, on its own two feet. There was that solo stuff, and then I started writing plays in the late seventies.” Although his work has spanned genres, most readers will recognize Bogosian for his acting, which has included a memorable performance in Woody Allen‘s Deconstructing Harry to co-writing and starring in the Oliver Stone movie Talk Radio (based upon his Pulitzer Prize-nominated play) to playing the bad guy in Under Siege 2 to his current role in Law & Order: Criminal Intent as Captain Danny Ross. They may not know, however, that he had collaborated with Frank Zappa on a album, worked with Sonic Youth, and was a voice on Mike Judge‘s Beavis & Butthead Do America. He started one of New York City’s largest dance companies, The Kitchen, which is still in existence. He starred alongside Val Kilmer in Wonderland and his play Talk Radio was recently revived on Broadway with Liev Schreiber in the role Bogosian wrote and made famous.

Currently at work on his third novel, tentatively titled The Artist, Bogosian spoke with David Shankbone about the craft of writing and his life as a creative.

Monday, November 21, 2005

The international entry mail art show SAT: An Exhibit of Chairs was put on display Friday in Brampton, Ontario, Canada. Held in the Fridge Front Gallery at the Shoppers World Brampton mall, SAT is a diverse collection of artworks focusing on a generally mundane object, the chair.

Works in the show range from realism to abstract, dadaism to surrealism, post-modern to collage.

While some of the entries were submitted directly to Visual Arts Brampton, most came from a previous exhibit. Organized by Pati Bristow, No place to rest, chairs you can’t sit on ran at Shopping Trolley Gallery West and Seaman’s Library at Foothill College, both in Los Altos Hills, California, earlier in 2005. Guest curator Nicholas Moreau was unaware of the similarly themed exhibit, held so soon before. The theme for SAT was based on that of a 1987 juried art show organized by Visual Arts Brampton at the now-defunct Chinguacousy Library Gallery.

Works in Visual Arts Brampton’s showing of the exhibition are from 17 countries including Belgium, Brazil, Canada, Finland, France, Germany, Ireland, Italy, Japan, Netherlands, Norway, Pakistan, Romania, Spain, Uruguay, the United Kingdom, and the United States of America.

This is Visual Arts Brampton’s third mail art show. In 1999, Susan Williamson created The Great Canadian Mail Art Show for Artway at Bramalea City Centre; the show was so successful that the Art Gallery of Peel adopted it in 2001. The concept of a mail art show was revived in 2004 by Moreau, held at the new Artway Shoppers World. The Snail Mail World Postcard Art Show has been held annually since.

Visual Arts Brampton’s Fridge Front Gallery primarily hosts artwork by youth from its kids classes, and from schools in Brampton and Oakville. In contrast, the nearby Artway Gallery hosts artwork by professional and amateur adult artists from across Peel. VAB has successfully sought permission to create a third display space in Shoppers World, in the Zellers corridor. The space will host shows of mail art and works on paper year-round. The planned “World Art Gallery” will be the first ever permanent display space for mail art.

Saturday, February 16, 2008

While nearly all cover of the 2008 Presidential election has focused on the Democratic and Republican candidates, there are small political parties offering candidates, and those who choose to run without a party behind them, independents.

Wikinews is interviewing some of these citizens who are looking to become the 43rd person elected to serve their nation from 1600 Pennsylvania Avenue NW.

First off is Long Beach, California’s Frank McEnulty (b. 1956), a married father of two with an MBA (Venture Management) and BS (Accounting/Finance).

Thursday, October 4, 2007

Larry Stevens is running for the Libertarian Party in the Ontario provincial election, in the Kitchener-Conestoga riding. Wikinews’ Nick Moreau interviewed him regarding his values, his experience, and his campaign.

Stay tuned for further interviews; every candidate from every party is eligible, and will be contacted. Expect interviews from Liberals, Progressive Conservatives, New Democratic Party members, Ontario Greens, as well as members from the Family Coalition, Freedom, Communist, Libertarian, and Confederation of Regions parties, as well as independents.

Wednesday, February 11, 2009

On Monday, France announced a rescue plan for its struggling automotive industry. The plan totals €6.5 billion (US$8.5 billion). The European Commission, which enforces European Union legislation, said the conditions may break EU rules.

The plan calls for PSA Peugeot Citroën and Renault, the two largest French automakers, to receive a five-year loan of €3 billion at 6% interest, each. Meanwhile, Renault Trucks, which is owned by Volvo Group of Sweden, will receive a €500 million loan.

French President Nicolas Sarkozy said that the funds should be invested in environmental technology. Sarkozy added that “Renault and PSA have also committed to not to close any production sites for the duration of their loan and to do whatever they can to avoid layoffs.”

“It’s a commitment that I applaud because it ensures that this acute but temporary crisis will not destroy our industrial base and automotive know-how,” the President concluded.

The European Commission is concerned about the implied obligation to not close production facilities, which would go against EU rules.

“There are indications that carmakers will be obliged to maintain their center of production in France as a condition for government support,” said Jonathan Todd, a spokesman for the Commission on Tuesday in Brussels. “The Commission will not authorize aid that would tend to undermine the single market.”

Conditions that violate these rules “would render the aid illegal and will not be tolerated by the commission,” Todd said. “If there are measures that question the single market, the risk would be that the recession would be much worse, even becoming a depression as in the 1930s.”

“Today the Commission has written to the French authorities to ask for clarification of the plan,” Todd explained at a briefing. “We have not actually reached any conclusions as regards the French measures. We have a few concerns with what we saw in the press.”

Slovakia has already said that it will appeal to the EC, if the loans amount to a distortion of competition law.

“The philosophy of the EU is a single market without any barriers to transfer products and services,” Ján Po?iatek, the finance minister of Slovakia said.

In Germany, Verband der Automobilindustrie executive director Klaus Braeunig said that the French plan is “a clear distortion of competition.” He added, “We don’t want an international race in subsidies.”