Tuesday, March 31, 2009
Sacre bleu! France threatens to storm out of G20 summit
Sunday, March 29, 2009
Resignation of CEO should be just the beginning if GM is to recover
Saturday, March 28, 2009
Saturday night is lights out for planet Earth
It's going to be a lot more symbolism than substance today when nearly 3,000 cities and towns across the world turn out lights to express concern about global climate change. Major cities in Asia, the Middle East and Europe have already gone dark and it's only Saturday afternoon in the United States. "We think we are going to have 100 million people around the world sending a message that climate change is real, and we need to take action now," said World Wildlife Fund CEO Carter Roberts, according to Cable News Network (CNN). "The world is watching to see what America is going to do because if America acts on climate change, the world will follow." The participation of the United States in international agreements to address climate change is crucial because it is one of the leading producers of greenhouse gases, which are blamed for much of the problem. After helping to negotiate the Kyoto emissions reduction treaty in 1997, the U.S. famously withdrew from the agreement before it took effect in 2005. More than 650 communities in the Philippines, one of the first countries in the world to reach 8:30 p.m., participated in the Saturday's event. Lights began going out first in Sydney, Australia, birthplace of the Earth Hour idea in 2007. Hundreds of Australians lined Sydney harbor to watch the city's lights begin to go out, CNN said. Lights went out at monuments around the world, including the pyramids in Egypt, the Vatican, the Eiffel Tower and the Acropolis in Greece. But something tangible could be accomplished by the event. Organizers want to bring the global concerns to the attention of world leaders attending an international summit on climate change in Denmark later this year, according to CNN.
Thursday, March 26, 2009
Newspapers should have figured this one out years ago
New talk today of cutbacks at the country's most respected daily newspaper publishers focused additional attention on the plight of that industry, which has been losing millions of dollars and subscribers since the Internet explosion. Today's news focused on announcements by the New York Times Co. and Washington Post Co. of new rounds of cost-cutting that will include layoffs and salary reductions, according to the Reuters international news service. The Times said it had laid off 100 workers and cut nonunion salaries, and had asked its unionized workers to make similar concessions. "This was a very difficult decision to make," said a memo sent to employees Times Chairman Arthur Sulzberger Jr. and Chief Executive Janet Robinson. "The environment we are in is the toughest we have seen in our years in business." The Post said it was offering another round of buyouts to its news, circulation and production staffs. But none of this was a surprise to anyone in the business. The old newspaper business model -- earning most of the revenue from classified advertising -- just doesn't work anymore because Internet sites can outdo traditional publishing in cost and reach. Yet newspapers have resisted long-term change and in large part failed to develop new revenue sources, leading to large-scale layoffs at U.S. publishers such as Gannett Co. and McClatchy Co. and closures of some of country's best-known newspapers, such as the Rocky Mountain News in Denver and the print edition of the Seattle Post-Intelligencer. The result has included a dizzying pace of newspaper mergers that created huge conglomerates that have proven unable to sustain themselves. This doesn't seem outrageously difficult. Small papers can make money, massive papers cannot. If the smartest people in the country can't figure out a business model that works with this information, maybe newspaper industry moguls should give up trying to become rich magnates and embrace the not-for-profit world instead. The country needs an informed, literate citizenry -- the very Constitution of the United States was written with the press in mind -- because even back in the late-18th century its advocates understood that the state cannot always be trusted to do the right thing. But if the titans of industry can't get figure out something as simple as this, it may be time to let the most unwieldy of them go under, start again with local, easy-to-print and distribute newspapers, and consign the mega-papers to the circular file of history.
Wednesday, March 25, 2009
Twitter looks to turn Internet popularity into cash
Tuesday, March 24, 2009
Financial crisis claims another government
Sunday, March 22, 2009
China can't keep its totalitarian hands off Tibet
Saturday, March 21, 2009
Madoff case is a distraction, albeit a huge one
Friday, March 20, 2009
Obama gets into trouble on Tonight Show
Why all the fuss about President Barack Obama's appearance on the Tonight Show? So, the president went on a TV talk show, as reported by the Associated Press, but presidents have been known to go on television from time to time. Sure, he shouldn't have said the thing about the Special Olympics -- at least it was funny, if in bad taste -- but that's hardly worth getting all excited about. Plus, he apologized to people who took it too personally. No, the crap that has been stirred up about it is being fomented by the same fools who are getting on his case about everything, especially the incredibly bad shape the economy was in when George W. Bush left office. Right, George W. Bush -- remember him? His government is the one that took its hands off the regulatory steering wheel and set the economy on its collision course. Is that the same guy whose emergency agencies left the people of the Gulf Coast to starve in the aftermath of Hurricane Katrina? Yes. Is that the same guy who declared "mission accomplished" in Iraq in 2003 even though it wasn't true and 140,000 U.S. troops are still there? Yes again. It's about time the nation's supposedly educated pro-Republican political leaders and pundits find their ways back to a semblance of intellectual honesty. The United States has just emerged from eight years of governance by one of the worst administrations ever, and it's going to take some time to fix everything.
Thursday, March 19, 2009
Administration confirms commitment to democratic values
Tuesday, March 17, 2009
France rejoins NATO military command
Monday, March 16, 2009
Empire strikes back -- U.S. plans to recoup AIG bonuses
Just days after the revelation that a major insurer that got $180 billion in federal bailout money intended to award $165 million in employee bonuses, the U.S. Treasury Department said Monday that it would try to recoup the money, according to the Reuters international news service. The Treasury Department's action came after President Barack Obama said he was "outraged" by the bonuses given by American International Group (AIG) and would seek to block them. In remarks at the White House, Obama said he was "choked up with anger" over the bonus payments. "How do they justify this outrage to the taxpayers who are keeping the company afloat?," he said. AIG said on Sunday that it was contractually obligated to make the $165 million in awards for 2008, but would revamp its bonus system under new chief executive Edward Liddy. The 2008 bonuses are the last installment of $450 million in bonus money agreed to by former CEO Martin Sullivan. Bonuses totalling $55 million were paid in December, Reuters said.
Saturday, March 14, 2009
AIG bonuses demonstrate what's wrong with Wall Street
Friday, March 13, 2009
Back to civilization: U.S. drops 'enemy combatant' designation for detainees
Thursday, March 12, 2009
Madoff conviction might only be the beginning
If the Western economic system is ever to regain respect from the everyday people it was supposed to benefit, today's conviction of Wall Street financier Bernard Madoff is only the first in a long line of similar cases -- most still to be filed. The former Nasdaq chairman pleaded guilty on Thursday to running a $65 billion investment fraud thought to be the largest in Wall Street history, according to the Reuters international news service. The 70-year-old is expected to be sentenced to prison for the rest of his life. At a federal court hearing in Manhattan, Madoff admitted to setting up a worldwide Ponzi scheme from the beginning, but said he expected to be able to get himself and his clients out of it quickly, Reuters said. "I am painfully aware that I have deeply hurt many, many people," he told U.S. Judge Denny Chin in his first public acknowledgment of the fraud. "When I began my Ponzi scheme I believed it would end shortly and I would be able to extricate myself and my clients from the scheme." Madoff, who read from a prepared statement, said he was unable to shut down the scheme, which used money from new investors to pay earlier investors for 20 years. "As the years went by, I realized that my arrest and this day would inevitably come," Madoff said. The scandal has increased scrutiny of Wall Street and government regulators who were supposed to be monitoring investments and preventing wrongdoing. The scam was first brought to the attention of the U.S. Securities and Exchange Commission in 1999, Reuters said. Investors -- some of whom attended today's court hearing, included hedge funds, banks, Jewish charities, the wealthy, and small individual investors in North and South America and Europe. Madoff could get a sentence as long as 150 years for the 11 charges against him, which include securities fraud, money laundering and perjury, Reuters said. Sentencing is scheduled for June 16.
Tuesday, March 10, 2009
United States and China have too much to lose
It may well be that the economic and military power of the United States and the rising power of China are on an inevitable collision course, but nothing unforgettable is going to happen now. The two powerhouses need each other too much and get along too well to allow that to happen, particularly with Secretary of State Hillary Clinton due to arrive in China on Wednesday. So, Monday's incident involving a U.S. naval survey vessel and five Chinese military ships in the South China Sea cannot be anything serious, despite the rising level of rancor emanating from Washington and Beijing. China accused the United States of violating its exclusive economic zone, while U.S. officials accused the Chinese of "harassment," according to the Reuters international news service. Dennis Blair, the new U.S. National Intelligence Director, told the Senate Armed Services Committee in Washington that the incident reflected "a trend" in Chinese policies toward "military, aggressive" behavior. He called the incident the gravest between the two countries since the 2001 collision between a Chinese military plane and a U.S. surveillance plane off Hainan in 2001, Reuters said. That is probably true. But the 2001 incident was resolved peacefully even though China probably had a right to be upset about spying. Beijing has a key military base on the island.
Italy seeks dismissal of criminal case against spies over Bush rendition program
It certainly looks as if lawyers representing Italy will succeed in getting the criminal prosecution against 33 U.S. and Italian undercover operatives thrown out of Rome's Constitutional Court and avoid another international embarassment over the former Bush administration's war on terror. The 33 spies -- 26 Americans and 7 Italians, are accused of kidnapping a Muslim imam from Milan in 2003 and flying him to Egypt, where he claims he was tortured. The Americans, many or all of whom are reported to be CIA agents, are being tried in absentia. The government in Rome contends prosecutors broke Italian law while building their case against the 33 operatives by using wiretaps and questioning them about classified matters, and wants the evidence suppressed. "If the government's position is upheld by the Constitutional Court, certain evidence will become impossible to use," Italy's attorney Ignazio Francesco Caramazza, who wants the trial stopped, told the Reuters international news service before the start of this week's closed-door hearings. An attorney for the prosecutors, Alessandro Pace, contends no laws were broken in the gathering of evidence. The trial, which is due to start in a lower court, has been held pending the outcome of this appeal. Human rights groups accuse the United States and some of its allies of breaking international law by using agents to capture suspects in other countries, Reuters said, a practice called "rendition." But the United States defends rendition as an important anti-terrorism tool and denies torture allegations, Reuters said, including those raised by the Milan man, Hassan Mustafa Osama Nasr, also known as Abu Omar. Nasr claims he was beaten and shocked in custody before being released in 2007. He still faces allegations of terrorist activity in Italy.
Monday, March 9, 2009
Stem-cell decision shows return of common sense to U.S. policy
New U.S. President Barack Obama's long-anticipated decision on Monday to lift restrictions on stem-cell funding imposed by former President George W. Bush demonstrates just how far the United States has come in rejoining the world community it used to lead. The decision, which fulfilled a campaign promise, clears the way for U.S. scientists and companies to apply for federal funding to pay for research into whether manipulating human embryonic stem cells could produce treatments or cures for many diseases. "We will lift the ban on federal funding for promising embryonic stem cell research," Obama said to applause at a White House gathering, according to the Reuters international news service. "We will also vigorously support scientists who pursue this research. And we will aim for America to lead the world in the discoveries it one day may yield." The decision reverses controversial Bush administration policies that sharply limited U.S. participation in stem-cell research already underway worldwide. "When it comes to stem cell research, rather than furthering discovery, our government has forced what I believe is a false choice between sound science and moral values," Obama said at the gathering. "As a person of faith, I believe we are called to care for each other and work to ease human suffering. I believe we have been given the capacity and will to pursue this research -- and the humanity and conscience to do so responsibly." Bush restricted federal funding to a small group of existing cells to prevent the destruction of human embryos, which and other religious conservatives consider murder. But many scientists had accused Bush of sacrificing research and subverting scientific findings for political considerations, Reuters said, not only on stem cells but on climate change policy, energy and reproductive and end of life issues. Shares of companies specializing in stem cell research rose sharply after the announcement, with Geron Corp gaining as much as much as 35 percent and StemCells Inc up 73 percent at one point. Republican Sen. Sam Brownback of Kansas issued a statement of opposition to Obama's decision. "If an embryo is a life, and I believe strongly that it is life, then no government has the right to sanction their destruction for research purposes," the statement said, according to Reuters. Stem cell experts agree that stem cells offer the potential of a new science of regenerative medicine, which could lead to a way to replace brain cells destroyed by Alzheimer's disease, reverse genetic defects such as cystic fibrosis and regrow severed spinal cords.