Tuesday, February 23, 2010

Toyota has been accused by a U.S. House of Representatives committee with misleading the public and investigators over its recent recalls.

The accusations, in a statement from the House Energy and Commerce Committee, claim that Toyota both relied on a flawed study in its assessment of the issue of sticking accelerator pedals at the heart of the recalls, and then made misleading statements about its response. According to the authors of the letter, Henry Waxman and Bart Stupak, Toyota dismissed, rather than investigated, the idea that the cars’ computers were at fault. In a statement, James Lentz, the president of Toyota’s American division, claimed that hardware issues were to blame, and that dealers were repairing the faulty part. Toyota also released a study commissioned from the research firm Exponent that said electronic systems were not to blame.

According to the House committee, however, the study involved only six vehicles, none of which had problems with their electrical systems, and was insufficient to produce an accurate result. “Our preliminary assessment is that Toyota resisted the possibility that electronic defects could cause safety concerns, relied on a flawed engineering report and made misleading public statements concerning the adequacy of recent recalls to address the risk of sudden unintended acceleration.”

The company is under a criminal investigation, and has received two subpoenas for documents from two House committees relating to the recalls, although whether they are directly related to the letter is unclear. The documents are related to accelerator issues in several models, as well as brake problems with the Prius hybrid car, and were served earlier in in February by a federal grand jury and the Securities and Exchange Commission. Toyota has released upwards of 75,000 pages of documents under the requests.

In a separate, though related, development, it has emerged that Toyota last year negotiated a limited recall for two models, the Toyota Camry and Lexus ES, that were affected by the accelerator recalls, saving the company an estimated $100 million. A confidential internal presentation in July 2009 made the claim, and a month later, a Lexus ES, one of the models under the limited recall crashed in California, killing four people. The claims apparently referenced a September, 2007 recall of floor mats that could trap gas pedals, the same problem that triggered a full recall of numerous Toyota cars to fix the same problem. In the same presentation, the company claimed to have avoided recalls of another model related to rust, as well as delaying new federal safety regulations.

Wednesday, February 27, 2008

“Five singers, one drummer. No guitars, no bass, no keyboards but nevertheless an unbelievable melodic metal experience.”

That’s how the official website of van Canto describes the band. Hailing from Germany, van Canto are what is called an a capella metal band, the pioneers of this new genre.

The band released their debut, A Storm to Come, in December 2006. Exactly a year later, van Canto announced a global signing to Gun Records/Sony BMG, and their debut was released worldwide on December 14.

Van Canto are now experiencing considerable success. They recently provided support for Finnish symphonic power metal band Nightwish, as well as receiving a slot at the internationally famous Wacken Open Air festival in Germany. The prestigious event sees them sharing the bill with acts such as Hatebreed, Sonata Arctica, As I Lay Dying, Soilwork, Children of Bodom, Nightwish, Lordi and headline act Iron Maiden.

Van Canto’s second album will be recorded across this month and next, with famed producer Charlie Bauerfeind, although no release date has yet been confirmed.

In light of recent events, van Canto member and founder Stefan Schmidt has given the band’s first interview in English, all previous interviews being in German or Italian. Wikinews now exclusively brings you that interview below.

Sunday, December 26, 2004

Indian Ocean – The death toll continues to grow and millions face a homeless life in the new year as coastal communities in south Asia struggle against continued aftershocks and flooding caused by the largest earthquake to strike the planet in more than a generation.

The magnitude 9.0 undersea megathrust earthquake struck off the western coast of Sumatra, Indonesia on December 26, 2004, at 00:58:50 UTC (or 07:58:50 local time in Jakarta and Bangkok).

The earthquake was the strongest in the world since the 9.2-magnitude Good Friday Earthquake which struck Alaska, USA in 1964, and the fourth largest since 1900. More than 140,000 deaths[1] were caused by resulting tsunami, which in Thailand were up to 10 meters (33 feet) tall, and struck within three hours of the initial event.

Multiple tsunamis struck and ravaged coastal regions all over the Indian Ocean, devastating regions including the Indonesian province of Aceh, the coast of Sri Lanka, coastal areas of the Indian state of Tamil Nadu, the resort island of Phuket, Thailand, and even as far away as Somalia, 4,100 km (2,500 mi) west of the epicenter.

While the earthquake and the tsunamis are no longer ongoing (other than aftershocks), the humanitarian and economic crisis generated by the disaster is still ongoing. This report will attempt to cover the crisis as it continues to develop.

Friday, August 24, 2007

Just before midnight Wednesday, four-year-old Taylor Bailey, nicknamed Bucky, was attacked by a neighbor’s dog. The Staffordshire Bull Terrier mix named Money chased the boy after he stepped out of his mother’s car, eventually knocking the boy to the ground and latching onto his leg.

The same dog had bitten the boy’s father the week before, according to the family, although this has not been confirmed by police. He recognized the dog and alerted his mother to the dogs presence just moments before the attack. She urged her son to come to her, but the one-year-old, 85-pound (~39 kg) male broke free from his restraints and attacked the screaming boy.

The struggle lasted several minutes before the boy’s mother, Melinda Walters, was able to fight off the dog, leaving her knees scraped and thigh scratched. The boy’s legs were punctured, scratched and bruised with bits of flesh missing. “It didn’t go away. It was just trying to grab me … trying to kill me,” the boy said. Walters was carrying her three-year-old son Jason on her hip during much of the fight.

The dog’s owner, Marquita Mooney, 23, was ticketed along with a relative who was watching the dog. She said that rather than register the dog as a potentially dangerous animal—which involves an insurance bond, fees, kennel requirements and more—she would have the dog put down. Police reports indicate that the dog bit two other dogs about two weeks ago. Mooney has been ticketed for both incidents.

This is the second such incident in Minneapolis this month—seven-year-old Zach King Jr. was attacked and killed in his home last week by his family’s pit bull—fueling the debate over banning pit bulls and other “dangerous breeds” in some communities. Since 1966, there have been four other deaths from dog attacks in Minnesota, all but one of which were of children seven-years-old or younger.

Friday, December 29, 2006

Real estate tycoon Donald Trump on CNN’s Anderson Cooper 360 reacted to Rosie O’Donnell’s comments about him on the The View.

“Rosie has some real problems,” Trump said on Anderson Cooper 360. “Rosie’s a loser. She’s been a loser always.”

It started when Miss USA Tara Conner was caught under age drinking. Trump, the owner of the Miss Universe Organization, gave her a second chance. Rosie O’Donnell called him a “Pimp” on her personal blog and said he has no right to be “the moral compass for 20-year-olds in America” on The View, which she co-hosts.

“Rosie got mentally beaten up by me,” Trump told The Post yesterday, “because she’s a mental midget, a low-life.”

“It’s too bad a degenerate is able to get away with things like that,” Trump said yesterday. “I met Tara the night of the pageant and didn’t see her again until she got into trouble.”

Trump said that he would sue her over her comment.

“It will never end on my behalf because I’ve exposed Rosie for what she is: a very dumb human being,” Trump told the Associated Press. “She’s got no intelligence, but I’ve known that for a long time. Unfortunately, Rosie’s pulled the wool over the public.”

When CNN contacted O’Donnell, one of her representatives said she was unavailable for comment. CNN’s Anderson Cooper 360 also said that she is welcome to comment anytime.

Monday, April 6, 2009

Leaders and central banks in Russia, China, Malaysia, Indonesia, Thailand, and Kazakhstan have called for an international currency system.

Speaking on April 1 in advance of the G-20 summit in London, Russian president Dmitry Medvedev argued that the international finance system needed a “new construction” including “new currency systems”, saying that such a new system could be the purpose of a revamped IMF and World Bank. The IMF was originally founded in 1946 as the overseer of the Bretton Woods system, which from its founding until the 1970s tied the western world’s currencies to the US Dollar, which was in turn backed by gold. Russia’s proposal was for the new currency to serve as a reserve currency, one which would take the place of the dollar, euro, and other heavily-traded currencies as an international standard of exchange.

Medvedev’s comments are a reversal of Russian position from a lukewarm response following a looser outline for a worldwide currency by Kazakhstani president Nursultan Nazarbayev. On March 11, Nazarbayev suggested the establishment of the “acmetal”, a portmanteau of “acme” and “capital“, as a reserve currency replacing the ruble in international transactions, first for Central Asia and then worldwide. 1999 Economics Nobel laureate Robert Mundell, speaking to the Daily Telegraph, endorsed the idea, saying “It would be a very good idea if the G-20 took that idea up in London”.

2001 Nobel economics prize winner Joseph Stiglitz, meanwhile, said the new currency could come about quickly if it was based on an expansion of the IMF’s already established system of Special Drawing Rights, units of exchange used by the IMF which already have some of the features of currency. Stiglitz argued that, as the US dollar has become the standard global reserve currency, it has inadvertently created a system which hurts the world economy. “It’s a net transfer, in a sense, to the United States of foreign aid,” he argued, reasoning that when other countries purchase US dollars in order to use them on international markets (such as for the buying and selling of petroleum), they effectively give the US a zero-interest loan — sometimes at times when they can least afford it. Stiglitz made his comments as head of a United Nations panel of economists giving recommendations to address the global financial crisis.

In the weeks leading up to the G-20 conference, the People’s Republic of China also began discussing a new system for reserve currencies. In a March 23 speech, Zhou Xiaochuan, governor of the People’s Bank of China, endorsed a new reserve currency, saying “the desirable goal of reforming the international monetary system, therefore, is to create an international reserve currency that is disconnected from individual nations and is able to remain stable in the long run, thus removing the inherent deficiencies caused by using credit-based national currencies.” Zhou went on to endorse the expansion of the SDR system in the long-term creation of a reserve currency government by the IMF. While Zhou did not mention the US dollar specifically, analysis by Qu Hongbin, chief China economist for HSBC, for the Financial Times said that the speech “is a clear sign that China, as the largest holder of US dollar financial assets, is concerned about the potential inflationary risk of the US Federal Reserve printing money”.

China holds $740 billion as assets; inflation in the US economy, which has been low in recent years, would directly cause those assets to lose value.

While the Chinese government has engaged in currency swaps with several other growing economies, such as South Korea, Argentina, Malaysia and Indonesia, the Chinese Yuan cannot be used itself as a reserve currency as it cannot be freely traded on the global market.

The Chinese-Russian proposal was not entered onto the agenda at the G-20 meeting itself. Nonetheless, British Prime Minister Gordon Brown said that the G-20 was open to considering the proposal if and when a detailed one is presented. United States President Barack Obama, meanwhile, endorsed the continuation of dollar supremacy, saying that the US dollar is “extraordinarily strong” and arguing that its strength was the result of the intrinsic stability of the United States economic and political system; US treasury secretary Timothy Geithner had, the week before, made comments that while he supported an expansion in the SDR mechanism he rejected the idea of a global currency. Rather than change the role of SDRs, the G-20 meeting instead added $250 billion in support to the fund backing SDRs.

After the G-20 conference ended on Thursday, Malaysia’s The Star BizWeek reported that the central banks of Indonesia, Malaysia and Thailand had endorsed the Chinese proposal. All three countries have close economic ties with China and suffered heavily from the collapse of their currencies in the 1997 Asian Financial Crisis; the sudden growth in the value of the US dollar relative to those countries’ native currencies sharply increased debt in Southeast Asia’s economies, leading to a wave of bankruptcies.

International reaction from other economies has been mixed and guarded. Luiz Inacio Lula da Silva, President of Brazil, said that the currency proposal was important to discuss but did not give extensive comment. And while UPI reports that India supported the SDR proposal at the G-20 conference, the Indian Press Trust quotes Indian Prime Minister Manmohan Singh as saying last month, “It is too early to talk about common currency.”

Calls for an independent global reserve currency are not new. In 1944, John Maynard Keynes proposed the “bancor“, a unit like the SDR supported by a basket of commodities. Keynes’ idea was rejected and the US dollar took the equivalent role under the Bretton Woods system. Keynes proposed that the bancor system would be reinforced by a tax on participating countries’ current accounts, the difference between their exports and their imports, in order to encourage balanced trade. Meanwhile, monetary unions have become more popular since the end of the gold standard, with most of the European Union now trading the euro, and several countries outside the EU using it as a de facto currency; five West African countries adopting the eco at the end of this year; and the African Union planning to introduce the afro in 2028. Proposals for a North American currency union based around the so-called “amero” have been frequently discussed as the focus of conspiracy theories in the United States, but none of the US, Canada or Mexico have actively pursued the establishment of any such monetary union, however the dollar is the currency of several Latin American countries.

Wednesday, September 13, 2006

Police in the town of Malegaon have recovered explosives from a yellow container placed in the Mohammadiya Madrassa shopping complex on Kidwai Road. A bomb disposal squad has been rushed to the site, and the surrounding area has been cordoned off. Officers from the Anti-Terrorist Squad, along with IG P.K Jain and Superintendent of Police Rajyawardhan, are also at the site. Jain, however refused to confirm whether the device was a bomb, saying only that it was a “suspicious looking container with wires and a battery attached to it.” He said that if it was indeed an IED, police would either attempt to defuse it, or detonate it in an isolated area.

Meanwhile, police in Nashik have seized 11 detonators, 5 blasting gelatin(gelignite) sticks and a revolver from a building named Raj Sarthi. At least 38 people were killed and over 180 injured on 8 September, when three bombs went off near the Hamidia Mosque during the Shab-e-Barat festival. Although the communally sensitive town has so far been quiet, officials have once again declared an alert in Malegaon.

Wednesday, March 9, 2005File:Plastic bag stock sized.jpg

They are cheap, useful, and very plentiful, and that is exactly the problem, according to researchers. A report issued on Feb. 23 by a cadre of environment and economics researchers suggested that Kenya should ban the common plastic bag that one gets at the checkout counter of grocery stores, and place a levy on other plastic bags, all to combat the country’s environmental problems stemming from the bags’ popularity.