Friday - September 30, 2011

Hope for Change

Dig This
Court Rules In Favor of Pebble Mine

An Alaska Superior Court judge has upheld the validity of temporary, revocable land and water use permits for mineral exploration at the Pebble copper-gold-molybdenum project in the Bristol Bay region of southwest Alaska.

Project opponents have waged a lengthy legal and political battle against the massive project, frequently citing risks to salmon and other fishery in the Bristol Bay

Bristol Bay is the large inlet just above where the Aleutian Island Chain connects to the mainland. It is where most of the salmon swim through on their way to their spawning grounds.

Superior Court Judge Eric Aarseth delivered a major blow to the environmental activists who have been using regulations lawsuits and billions of dollars to prevent the Pebble Mine Project in Alaska from helping to provide American energy independence. Judge Aarseth handed down a 154-page ruling in favor of Alaska in the most recent lawsuit aimed at preventing the Pebble Mine Project from even being able to begin the permit process.

Pebble Mine is one of the largest copper deposits in the world. It is in the United States and could release us from our dependence on buying copper from China, which provides 97% of the copper used in the world.

The environmentalist have argued that the Pebble Mine MIGHT impact salmon in Bristol Bay, Alaska, even though the mine is over 200 miles north of the area.

The judge ruled that evidence “did not support the plaintiffs’ claims that mineral exploration activities in the Pebble Project area were significantly impacting or causing long term harm to concurrent uses.”

After summarizing the state’s monitoring of Pebble’s exploratory activity to ensure compliance with the terms of the permits, Aarseth wrote:

“All of these documented efforts support the conclusion that the state was proactive when issuing permits with appropriate restrictions on Pebble’s activity and not merely rubber-stamping the applications. Further, the review process as well as the field surveys/investigations indicate that the State was actively enforcing the permits issued and thus placing itself in a reasonable position to revoke the permits if necessary. Last, by responding to concerns by Nunamta both in the review process as well as in enforcing the [permit] conditions, the State showed a reasonable concern for the concurrent users of the Pebble Area.”

Aarseth found Nunamta did not meet its burden of proof to show environmental harm and concluded, “Moreover, contrary to Plaintiffs’ assertions, the weight of the evidence tends to show that exploration activities are not changing water quality in the Pebble study area.”

He was also persuaded that Pebble has a “successful reclamation program” and there was no evidence of damage to vegetation. Aarseth similarly dismissed claims of harm to caribou or fish populations.

“The evidence shows that more than 20 years after minerals were first discovered at Pebble, the site continues to have pristine water and support wildlife and fisheries resources,” Aarseth wrote. “The harms that Plaintiffs’ witnesses describe are speculative; they are neither harms occurring in fact nor did they show that the harm will necessarily occur.”

The case was Numanta Aulukestai v. State of Alaska, DNR, and Pebble Limited Partnership and the whole decision is here.



There is another similar case, Rosemont Copper, a copper mine near Tuscan Arizona that could employ 1000, also being held hostage in the court system by the EPA and its tree hugging minions.

While this ruling is a significant win for the goal of American energy Independence, it is not the end of the issue. Environmental groups have aggressively fought the Pebble Mine Project for years. This particular lawsuit has been ongoing since 2009. Since Judge Aarseth’s ruling, they say they are taking the case to the Supreme Court.

Want to get involved? Visit Resourceful Earth to see how.

   Saturday - January 15, 2011

the russians are coming?

I’m not terribly well versed on these things BUT ...
according to the radio, BT owns large energy holdings in the USA.

So ....

With the Russians now having a stake in BP for a sizable amount of cash ....
Does that now mean the Russians also will have a hold of any sort in the US?

BP gives 5% stake to state-owned Russian oil firm as they reveal plans to drill Arctic

By Rupert Steiner and Simon Neville

BP signed a major deal last night that will see the Russian government own a chunk of Britain’s biggest oil firm.

It sold 5 per cent of its shares – worth £5billion – to Russia’s state-owned energy firm Rosneft.  Both companies have also agreed to co-operate in drilling for oil reserves in the Arctic.

The historic share-swap deal could open up lucrative revenue streams for BP, which is the third largest energy firm in the world.

But it also raises fresh concerns about the take-over of UK firms by foreign companies – including those, like Rosneft, that are effectively a branch of an overseas government.

Questions will also be asked about the security of Britain’s energy supplies, given Russia’s history of playing politics with oil and other resources.

the rest is here

   Monday - December 06, 2010

Students (?) close store for a hour over tax breaks to business … idiots on the left on the march.

First ... Hello to Franklin,TN if still there.

OK ... things that make a rant.  Like the enclosed.

I had never heard of the Woodcraft Folks before today. In fact, I can’t even find the article I’m looking at now, on line. And I have tried a 100 ways to bring it up. But of course, it’s the Telegraph and I should be used to it by now. Unfortunately, I’m not.

Therefore, rather try and copy the article, I’ll just give you the idea.

You already know about the student protests that started over an increase in college tuition.  Naturally, protests also mean destroying property. It also means that anyone opposing the rabble are right wing Nazi Fascist war mongers or words to that affect.

Now another protest group is hot and bothered because some businesses are avoiding taxes. In the latest case, it’s TopShop where the peace loving young managed to shut the store down. Of course it never occurs to the peace and freedom loving students that they are be depriving people who want to shop, the freedom to do so. No surprise as the only freedom that counts with the left is their freedom to disrupt others from going about their own legal business.

Now then, nobody here at BMEWS I’m reasonably sure will give a thumbs up to tax cheats or those who act in a criminal way to dodge what they owe. However, the thing these schmucks on the left don’t seem to understand is, it’s the government that gives the go ahead on tax forms to avoid some taxes. And what business will volunteer to turn down any tax break they can get?  But no matter, carrying signs proclaiming their allegiance to Socialism, these twits are out on the streets in this cause as well.
Which brings me to a group called Woodcraft Folks. Who are, a left wing version of the Scouts.  Fancy that.

Now then, these socially aware left wing lunatics are encouraging kids as young as 11 to take part in these demonstrations.  Some schools have been found to even give kids time off for this exercise.  WF leader took a group of 13 to 15 year olds to last week’s London protest.
Oh btw … Woodcraft Folks is also govt. funded. How about that?

Here’s what one commenter had to say which shows not all Brits have lost it.

Before targeting businesses we should be focusing our attentions on the far more wasteful and wealth destructive government.
No-one has to shop at TopShop but we all have to hand over our money to the government. That government can give away £13 billion in foreign aid, givea way our EU rebate worth over £1 billion a year, create unnecessary regulations and bureaucracy costing tens of billions a year.
I don’t blame Phillip Green for looking after HIS wealth. He is only accountable to his customers who can go elsewhere. Our governments are rarely accountable.
We need to stop paying hundreds of billions in benefits (including extending the housing benefit racket for another 8 months) before demanding more of other peoples money. 

Topshop forced to close in tax avoidance protest

Britain’s largest fashion store was forced to close as activists unruly left wing dupes carried out a series of protests against tax avoidance by big businesses.

By Michael Howie

Topshop’s flagship branch on London’s Oxford Street turned away customers on one of the busiest shopping days of the year as around 200 protesters took over the store.

Security staff removed a number of campaigners who chanted slogans directed at billionaire Topshop owner Sir Philip Green, whose business five years ago paid a £1.2 billion dividend to his wife, Tina, who resides in Monaco.

Sir Philip was this year appointed as an adviser to the Government on efficiency in the public sector.
The protest was organised by UK Uncut, which used social networking sites Twitter and Facebook to carry out a national day of action against stores owned by Sir Philip’s Arcadia Group, which also owns Dorothy Perkins, Burton, Evans and Miss Selfridge.

The protest group, as revealed in The Sunday Telegraph last month, was set up by Thom Costello, an Oxford graduate from south London who now works as a television researcher.

About 200 protesters inside the store began chanting slogans after whistles were blown at 11am, signalling the beginning of a long protest that forced the store to close for more than an hour.

Security staff and police officers bundled protesters and journalists, including Polly Toynbee, as a largely peaceful demonstration briefly threatened to turn violent.

One 62-year-old campaigner told how he was “pinned to the ground” by security staff after complaining that a young woman had been mistreated inside the store.

The campaigner, who only gave his name as John, said: “A young woman was grabbed around the neck so I complained. Several security guards jumped on me and I was pushed to the ground. I could hardly breath – it was terrifying.”

MORE HERE

A note ... Polly Toynbee is an extreme far left Marxist/Leninist/Trotsky loving wacko who thinks everyone who doesn’t agree with her view from the left must be Himmler himself. She is very quick to invoke the Nazi tag in every argument.

   Wednesday - November 10, 2010

it’s all about business …. innit ?  possible eye candy depending on your view of things

Our very unlikely trade envoy: How David Cameron wants Tamara Mellon to sell Britain to the world

By Geoffrey Levy
For international businessmen interested in trading with Britain, a treat is in store: she’s 5ft 6in, always in 5in stiletto heels, with long dark hair and a mesmerically silken manner.

Her name is Tamara Mellon, founder of the Jimmy Choo shoe label.

Just 24 hours after David Cameron had appointed her to become a global trade envoy (a similar role to that of Prince Andrew), the 43-year-old divorcee was at her office in New York where the books she is said to keep on her desk include Cosmic Coupling: The Sextrology Of Relationships, as well as Brit-Think, Ameri-Think: A Transatlantic Survival Guide.

Tamara is better acquainted with the Chancellor of the Exchequer, George Osborne, through a business leaders’ forum he invited her to join. Certainly, it has been quite a few weeks for the glamorous Ms Mellon, who has a delightful daughter, Minty, eight, from her failed marriage to U.S. banking heir Matthew Mellon.

First, she received an ‘Enduring Vision’ award from the Elton John Aids Foundation, then an OBE for services to the fashion industry from the Queen at Buckingham Palace. Now, she’s a government envoy. And she’s already worth around £100 million.

Not bad for a woman who used to run a market stall and almost wrote herself off with drugs. She still considers herself to be ‘in recovery’, helped by periods of meditation, cigarettes and the knowledge that Narcotics Anonymous (whose meetings she once attended) is always available to help if ever needed.

But then, she is the daughter of a man noted for his single-mindedness, a quality she obviously inherited, as became clear when she took her mother to court in a bitter dispute over £6 million shares in the company — and won.

Her dad, Tommy Yeardye, was born in Ireland to an unmarried Irish mother called Kathleen and brought up by her in London. He grew to be 6ft 4in with ‘fists like bricks’ and was nicknamed Muscles.

Stories about Yeardye, who died six years ago, and his alleged early friendships with underworld figures still swirl around the capital.

He most famously lived for some years with screen siren Diana Dors . He met her while working as a film body-double, standing in for Hollywood star Victor Mature. It was a bedroom scene. Within days he had moved into the voluptuous Dors’s Thames-side mansion.

There’s more interesting reading at the source.

THE MELLON GIRL SOURCE

OK ... Did you guys really think I was gonna leave you with a simple boring business story?  Although actually, the story isn’t that boring.
Anyway ... the answer is, of course not.

Ladies and Gentlemen .... I give you the new business envoy. okok, so the photo’s an old one. Who really cares?

   Friday - October 22, 2010

time and lifestyle and bad habits do tend to catch up with one. darn good to have pots of money then

Just to show ya how mean a newspaper can be.  NOT for showing her as she really is. No.  But for implying that this is her idea.  How daft is that?
She is a famous and VERY wealthy model.  She gets paid big bucks for this.

It’s the advertisers who want this look. And who can blame them?  Think about it.  While no fan of her previous lifestyle with drugs and drink and God knows what else, I think it’s okay that a career isn’t over at 35, especially if you look bad.  Although of course that will raise the question then of, what chance do newcomers have.
My answer to that would be, every chance in the world if they have the looks and the talent.  I guess with modeling though it’s more looks and discipline. And youth will always be in demand.  I just wish the fashion industry would make better use of it with their creations. 

Thank goodness for the world of tech and Photoshop and the airbrush.

Kate Moss turns back the clock with a little help from the airbrush in lingerie campaign

By Daily Mail Reporter
Last updated at 12:01 PM on 22nd October 2010

At the age of 36, it is not uncommon for a few wrinkles to appear on your face.

But Kate Moss seemingly wants us to believe that she has managed to maintain the perfect complexion and flawless figure that made her famous as a teenager.

The supermodel appears in a new campaign for Brazilian lingerie label Valisere looking a good decade younger than her years.

MORE HERE

I really don’t have the heart to post it on the facing page ....

   Saturday - October 16, 2010

Too Big To Fail, Or To Fine

SEC fines Countrywide CEO $67.5 Million


Too bad there’s no ruling that he actually has to pay them the money

Countrywide Financial Corp. co-founder Angelo Mozilo has agreed to a $67.5 million settlement to avoid trial on civil fraud and insider trading charges that alleged he profited from doling out risky mortgages while misleading investors about the risks.

Two other former Countrywide executives also settled before trial next week on charges filed by the Securities and Exchange Commission. But employment agreements that protect the men from lawsuits involving the failed lender mean Bank of America Corp., which bought Countrywide in July 2008, will pick up most of the tab.

The agreement requires Mozilo to repay $45 million in ill-gotten profits and $22.5 million in civil penalties. Former Countrywide President David Sambol owes $5 million in profits and $520,000 in civil penalties, and former Chief Financial Officer Eric P. Sieracki will pay $130,000 in civil penalties.

It’s “the fitting outcome for a corporate executive who deliberately disregarded his duty to investors by hiding what he saw in the executive suite,” SEC Enforcement Director Robert Khuzami said in a conference call with reporters.

But $25 million of Mozilo’s restitution will come from an escrow fund the company set up to cover shareholder litigation and Mozilo has no obligation to pay the remaining amount, according to the settlement agreement.

Sambol’s agreement stipulates that his entire $5 million forfeiture will come from the escrow fund.
...
The SEC accused the men of misleading shareholders about the quality of the loans on Countrywide’s books. The civil complaint also accused Mozilo of acting on his inside knowledge of the company’s precarious state when he sold shares between November 2006 and October 2007 ahead of its collapse, reaping more than $139 million.

Under the settlement, the three men did not admit wrongdoing.
...
Under the settlement, Mozilo agreed to never again serve as an officer or director of a publicly traded company. Sambol agreed not to do so for three years.

   Thursday - August 12, 2010

Sadder, but no wiser

OFailure

Political observer Rod Pennington says Obama’s numbers are significantly lower if the approval rating from black Americans is removed.

“What the poll fails to mention is the near universal support the President still enjoys among African-Americans which represent 14% of the population. If this support is subtracted from Mr. Obama, then he is somewhere in the range of 30% approval and 70% disapproval with all non-Blacks,”

The Obsolescence of Barack Obama

His fall from political grace has been as swift as his rise a handful of years ago. He had been hot political property in 2006 and, of course, in 2008. But now he will campaign for his party’s 2010 candidates from afar, holding fund raisers but not hitting the campaign trail in most of the contested races. Those mass rallies of Obama frenzy are surely of the past.

...

The country has had its fill with a scapegoating that knows no end from a president who had vowed to break with recriminations and partisanship. The magic of 2008 can’t be recreated, and good riddance to it.

blah blah blah, but it’s a decent read. Too bad it’s in the Wall Street Journal Op-Ed, where right-wing views are frequently found. When stories like this headline the New York Times, or take the lead on MSNBC, then I’ll believe that the great leftist masses have got the message. Until then, keep on fighting. Everything this rat bastard does is wrong, every single one of his policies is against the nation’s best interest on purpose, and every little flair-up in the press is most probably smoke and mirrors to distract you from paying attention to another dirty deal going down in the background.

NOvember can’t come soon enough.

And that “economic recovery”? Horse apples. Every day we get closer and closer to real long term depression. Business is going nowhere.

   Monday - June 14, 2010

What Was His Price?

We heard last week or so that TOTUS Obama is pushing efforts to “Save The Whales” by ending the 24 year old ban on hunting them. I guess his logic is that less whales will be culled by actual hunting then are being taken for “scientific research”. All the greenies, from the tree-huggers to the spotted owl lovers, have their knickers in a twist. So do lots of normal folks. Leave Moby alone!

Environmentalists, already peeved with the administration’s handling of the Gulf oil spill, are accusing President Obama of breaking his campaign pledge to end the slaughter of whales.

The Obama administration is leading an effort within the International Whaling Commission to lift a 24-year international ban on commercial whaling for Japan, Norway and Iceland, the remaining three countries in the 88-member commission that still hunt whales.

President Reagen (PBUH) helped put the ban in place, and since then the US has been firmly against whaling. I guess this is more of that Fundamental Change those 52ers were Hoping for.




But today the news story is that Japan has been blatantly bribing the International Whaling Commission, with bags full of money and sweet hoochie on the side! And, just as suddenly as Obama’s reversal on a very long standing US position, they too have reversed themselves!

Revealed: Japan’s bribes on whaling

A Sunday Times investigation has exposed Japan for bribing small nations with cash and prostitutes to gain their support for the mass slaughter of whales. The undercover investigation found officials from six countries were willing to consider selling their votes on the International Whaling Commission (IWC).

The revelations come as Japan seeks to break the 24-year moratorium on commercial whaling. An IWC meeting that will decide the fate of thousands of whales, including endangered species, begins this month in Morocco.

Japan denies buying the votes of IWC members. However, The Sunday Times filmed officials from pro-whaling governments admitting:
— They voted with the whalers because of the large amounts of aid from Japan. One said he was not sure if his country had any whales in its territorial waters. Others are landlocked.
— They receive cash payments in envelopes at IWC meetings from Japanese officials who pay their travel and hotel bills.
— One disclosed that call girls were offered when fisheries ministers and civil servants visited Japan for meetings.

Barry Gardiner, an MP and former Labour biodiversity minister, said the investigation revealed “disgraceful, shady practice”, which is “effectively buying votes”. The reporters, posing as representatives of a billionaire conservationist, approached officials from pro-whaling countries and offered them an aid package to change their vote.

The governments of St Kitts and Nevis, the Marshall Islands, Kiribati, Grenada, Republic of Guinea and Ivory Coast all entered negotiations to sell their votes in return for aid.  The top fisheries official for Guinea said Japan usually gave his minister a “minimum” of $1,000 a day spending money in cash during IWC and other fisheries meetings. He said three Japanese organisations were used to channel the payments to his country: the fisheries agency, the aid agency and the Overseas Fisheries Co-operation Foundation.

Japan has recruited some of the world’s smallest countries on to the IWC to bolster its support. A senior fisheries official for the Marshall Islands said: “We support Japan because of what they give us.”
A Kiribati fisheries official said his country’s vote was determined by the “benefit” it received in aid. He, too, said Japan gave delegates expenses and spending money. The IWC commissioner for Tanzania said “good girls” were made available at the hotels for ministers and senior fisheries civil servants during all-expenses paid trips to Japan.

(April 24, 2010)

The International Whaling Commission has announced a controversial proposal to save thousands of whales by allowing the first legal commercial hunts in 25 years.

The proposal, to be voted on at an IWC meeting in Morocco in June, sets out a ten-year plan that would bring Japan, Iceland and Norway back under the control of the 88-nation body.

The three nations have continued whaling by exploiting a loophole in the international moratorium on commercial hunting, passed in 1986, that allows lethal “scientific research”. Together, they kill about 3,000 whales a year, ten times as many as in 1993.

The new proposal, released in Washington last night, would replace the ban with legalised quotas and would allow the IWC to monitor all whaling. It is an attempt at a compromise between whaling nations and others such as the US and Australia that have long been opposed to it.

...

The proposal allows 400 minke whales a year to be hunted in the Antarctic for five years, then lowers that limit to 200 for the following five years. It also allows limited hunts of other species including fin, bowhead and grey whales in specific regions.

...

Earlier today Japan said that it would push for higher quotas in the IWC plan.

Bought and paid, folks, bought and paid. And they’re not even trying to hide it. And as soon as this measure passes, there will be higher quotas on the way. You know it. And suddenly Obama has a change of heart? Makes you wonder, don’t it?



On the third hand, Japan, Iceland, and Norway have killed more than 35,000 whales since the moratorium went into effect in 1986. Call it 1500 per year. For “scientific research”. Of all the whale species, only the smaller Minke is not considered to be seriously endangered. Maybe the ban never worked too well to begin with; out beyond the line, in the empty corners of the oceans, the only rules that can be enforced are those backed up with sustained and accurate naval gunfire.

extensive scientific research proves
whale tastes great with a bit of wasabi and soy sauce



Lending a bit of credence to the impending sellout ... IWC chairman Christian Maquieira is “suddenly ill” and will miss the meeting where the all-important voting takes place. What’s better than voting “present” on your own pet legislation? Not being there to vote at all, so you can escape any blame. Even though he introduced the idea to begin with.

The chairman of the International Whaling Commission has fallen ill and will not attend its annual meeting due to discuss his proposal to control the annual whale hunt, a spokeswoman said Monday.

The absence of Christian Maquieira could complicate efforts to negotiate a deal to end the stalemate between pro- and anti-whaling countries that has continued since a moratorium on commercial whaling was adopted 25 years ago.

Maquieira circulated a proposal in April to allow limited commercial hunting for 10 years. He has said it would halve the roughly 2,000 whales killed annually by Japan, Norway and Iceland, which exploit loopholes in the whaling ban.

Spokeswoman Jemma Jones said the commission has informed the 88 member states that Maquieira would miss the meeting starting next week in Agadir, Morocco. It will be chaired instead by his deputy, Anthony Liverpool, who co-authored the proposal.

No details of the Chilean’s illness were released.

Something stinks here. Smells worse than a beached and rotting whale.

   Friday - May 07, 2010

Protectionism? P&G Stocks “Too Big To Fall”?

Wild Ride On Wall Street
Dow Plunges Nearly 1000 points, Then Recovers

In one of the most gut-wrenching hours in Wall Street history, the Dow plunged almost 1,000 points Thursday before recovering to close down 348, as erroneous trading in Procter & Gamble and several other stocks sparked a massive selloff.

Fears about the spread of the European debt crisis dragged on stocks through the early afternoon. But the selling picked up in intensity and the Dow reached its nadir at around 2:40 p.m. ET.

The selling was a result of technical glitches that caused some stocks, including Dow component Procter & Gamble (PG, Fortune 500), to plunge 37% to $39.37 per share from the close of $62.12 Wednesday. The consumer products maker recovered most of that loss by the close, ending just 2% lower.

But the faulty P&G trading was responsible for 172 of the 998.50 points that the Dow Jones industrial average (INDU) lost at its worst, the biggest one-day point decline on an intraday basis in Dow Jones history.

The huge drop in P&G’s stock - reportedly from more than $60 to less than $40 - is widely believed to have been a trading glitch.

At around 2:45 p.m. ET, P&G’s (PG, Fortune 500) stock had fallen 10% to $56 on the New York Stock Exchange, triggering a “circuit breaker.” At that point, the NYSE slowed the trading of the stock for less than a minute. During that short time, other stock exchanges were allowed to trade P&G’s stock price on their own, instead of getting the price from NYSE.

According to Procter & Gamble and the NYSE, the Nasdaq stock exchange may have misprinted a quote of $39.37 a share. It is also possible that the electronic trades actually occurred, but they were made in error.

...

Late on Thursday Nasdaq said it had no technology or system issues associated with the trading that occurred between 2:00 and 3:00 p.m. ET.

But the exchange said that because it coordinates with other US Exchanges, “all trades executed between 2:00 and 3:00 p.m. ET greater than or less than 60%” of the stock price as of 2:40 p.m. ET or immediately prior to that time will be cancelled.

Silly me, I seem to recall from a few stock market crashes ago that these automated sell-off programs had been outlawed, to prevent exactly this. And we have some voice at NASDAQ saying there was no problem with the system. So what gives? The market is a fickle place, and if a panic sell-off of P&G occurs, that’s what happens. The herd stampedes out, the herd stampedes back in. It seems rather falsely protectionist to pull the stock from trading, and then declare that the low ball trades were not actually real. Somebody offered shares at that price, and somebody else agreed to buy them at that price, even if those decisions were made by a computer. So how can that be in error?

   Friday - April 23, 2010

Working Towards Freedom

GM Repays Debt Early: It’s A Start



I got this in my email this morning

Not bad. Nice effort. So, does this mean GM is now “free at last” and can operate as a privately owned company? Not hardly. They still owe the government zillions. This was just a drop in the bucket.

General Motors Co. has repaid the $8.1 billion in loans it got from the U.S. and Canadian governments, a move its CEO says is a sign automaker is on the road to recovery.

GM CEO Whitacre formally announced the loan paybacks Wednesday at the company’s Fairfax Assembly Plant in Kansas City, Kansas, where he also announced that GM is investing $257 million in that factory and the Detroit-Hamtramck plant, both of which will build the next generation of the midsize Chevrolet Malibu.

GM got a total of $52 billion from the U.S. government and $9.5 billion from the Canadian and Ontario governments as it went through bankruptcy protection last year. The U.S. considered as a loan $6.7 billion of the aid, while the Canadian governments held $1.4 billion in loans.

The U.S. government payments, made Tuesday, came five years ahead of schedule, and Whitacre said they are a sign that the automaker is on its way toward reducing government ownership of the company. The payments on the Canadian loans were also made Tuesday.

GM still owes $45.3 billion to the U.S. and $8.1 billion to Canada, money it received in exchange for large stakes in the company. The U.S. government now owns 61 percent of the company and Canada owns roughly 12 percent. GM plans to repay both with a public stock offering, perhaps later this year.

GM officials say the company’s public stock offering will take place when the markets and the company are ready. They will not predict how much of the remaining government debt will be repaid from the stock offering, but said it likely will take years for the governments to divest themselves fully.

The stock offering hinges on GM posting a profit, which Whitacre has said could come this year. GM lost $3.4 billion in the fourth quarter of 2009 on revenues of $32.3 billion. After the event at the Kansas City plant on Wednesday, Whitacre heads to Washington, where he is scheduled to meet with House Speaker Nancy Pelosi and other lawmakers.

I don’t think they are ready for an IPO yet. Not until they have paid off enough of their government debt to be 51% privately owned. Or 65%, given the uncertainty in the automotive marketplace and the possibility that they might need large infusions of cash from the government at some future date. They screwed us all with their bailout and the government’s takeover. Never again.

So keep paying down that debt GM. This is a good first effort. But I won’t be buying your stock, or your cars, until you can show me a lot more than just a profit for one measly quarter. And throw out the unions, or at least rip out most of their teeth. I’ll be damned if I’ll put a nickel into your company until you do.

   Tuesday - January 12, 2010

A MOST EXPENSIVE PARTY LAUNCH. BUT THE PARTY’S OVER.

I don’t suppose many of you have followed this story much if at all.  Being somewhat closer to this, Dubai has figured in the news here quite often since this SPECTACULAR opening of the resort for billionaires.  We’ve been buried in beautiful photos of the place and at the beginning there were all these very positive comments and promises for the bright future ahead.
Well, Aladdin’s lamp has gone darkish as the place has all but gone bust.  Empty and decaying (already) apt. complexes, restaurants that either never opened as scheduled or if they did have now closed.  Nowadays the photos we see of this grandiose dream are sadly not so forward looking and the future does indeed look grim.  The developers had hoped that one of the rich Arab countries might shovel in some needed cash, and they did indeed get some from one of the Arab states.  I forgot which one.

Dubai is a place where a person goes to jail for an offense like a bounced check. They are very serious about that.
Photos we see now show expensive cars simply left in the street to collect dust as the owners have walked away, broke. They have left homes and apts the same way.  Simply abandoned and very many have had to sneak out of the country. Not that they were involved in any criminal activity mind you.  But they found the bubble had burst and their funds were either non existent or near to being so.  They could no longer pay the staggering bills and faced jail, and so left.  Many others have stayed trying as best they can to salvage something.  The people one really has to feel sorry for, are the many who were recruited to work there as waiters and maids and low level jobs, who came from foreign countries and are now at the mercy of ppl who don’t have a large supply of that.  While the money wasn’t huge by our standards, it was by the standards of the countries they were recruited from. 

Until today, I hadn’t seen this 2008 video.  In ‘08 I was busy 27/7 helping the wife with a bed ridden elderly mother and I guess I missed a lot.
Better late then never though because this really is a sight to see.  Notice the cost of the party.  They didn’t.

Dubai resort The Atlantis stages most expensive launch party ever
The global recession may be biting, but try telling that to the Hollywood celebrities and billionaire business moguls who attended the opening of Dubai’s latest luxury resort, The Atlantis.

By Anita Singh, Showbusiness Editor
Published: 4:07PM GMT 20 Nov 2008

More than 2,000 guests attended the event on the man-made Palm Jumeirah island in the Persian Gulf. Robert De Niro, Janet Jackson, Denzel Washington and Lindsay Lohan were among them, while the British contingent included the Duchess of York, Sir Richard Branson, Dame Shirley Bassey, retail boss Sir Philip Green, television presenter Trinny Woodall and the singer Lily Allen.

They feasted on lobster and Middle Eastern mezze and the Veuve Clicquot champagne flowed freely, although the presence of Sheikh Mohammed bin Rashid Al Maktoum, the ruler of Dubai, and a sizeable number of other Muslim guests ensured that the drinks bill was relatively modest.

Security at the party was so tight that a two-mile exclusion zone was thrown around the island.

Kylie Minogue performed on stage for a reported £1.5 million fee but the real entertainment of the night was provided by the pyrotechnics. One million fireworks – almost 10 times the scale of the Beijing Olympics opening ceremony – lit up the Palm, with the organisers claiming the display was visible from space.

Even in Dubai, a part of the world renowned for excess, there had never been a party like it.

“We built something that’s quite extraordinary. We’ve got to tell the world about it,” said Sol Kerzner, the South African billionaire hotelier and casino tycoon.

The 1,539-room Atlantis took two years to build and cost £1 billion. Mr Kerzner admitted that the global economic downturn would have an effect on business.

“We are in a challenging time. The economy is basically in a recession and we have to adjust to the changing circumstances. We have to be careful with our cost levels” he said, although he did not believe he had splashed out too much on his guests: “I didn’t lay on private jets. They either came in their own private jets or by regular airline.”

Colin Cowie, the party planner, likened the logistics of organising the beachside party to the Normandy landings. He added: “People say, ‘How do you have a party like this in these economic times?’ But the funds were allocated a year ago, and you have to dream big to get a big result.”

THE PARTY’S OVER

From The Times
November 28, 2009

The spectre of “Financial Crisis 2” continued to loom over global markets yesterday after Dubai’s revelation that it may not be able to meet its debt obligations.

Stock markets in Asia and the United States fell sharply while the dollar and Japanese yen rose as investors shifted their money to their perceived safety.

UK banks were also revealed to be the biggest lenders to the United Arab Emirates, which includes Dubai, with more than $50 billion owed by the Gulf state’s residents.

In another blow to the beleaguered UK banking sector, the Royal Bank of Scotland emerged as the largest single loan-arranger to Dubai World, the state-owned conglomerate that sparked this latest financial crisis when it sought a standstill on its debt repayments on Wednesday.
Related Links

RBS, which is owned by British taxpayers, has arranged loans worth up to $2.3 billion to Dubai World.

The Financial Services Authority, the regulator, is understood to have sought assurances from banks that their exposure to Dubai will not threaten their financial strength. The FSA said it would continue to keep a close eye on the situation.

Dubai World, which owns a range of assets including the Turnberry golf club in southwest Scotland, sparked panic when it asked for the debt standstill. The company has liabilities of $60 billion and its Nakheel property division, which built the Palm Jumeirah development where the footballers David Beckham and Michael Owen own houses, was due to repay a $3.5 billion bond next month.

The standstill has raised the prospect that Dubai World and, by extension, the government of Dubai might default on their debt.

TIMES

Here’s a link for a lot of other links on the subject.  Makes for some fascinating reading.

BYE-BYE-DUBAI

notice the dates on these two stories. didn’t take long.

   Tuesday - November 24, 2009

Not so sure this is a great idea.  Except for MSFT (mis-fit) if it works.

Microsoft (MSFT) kinda reminds me of the old Al Capp cartoon with General Bullmoose.
“If it’s good for General Motors, it’s good for the USA.” Bah.  Most of you too young to recall that.

Hey ... finally felt well enough to get my butt in gear and go see the doctor.  They have just moved to new and more modern offices less then a mile down the road. Or maybe almost a mile. Trouble is, there isn’t any bus from our general area that goes anywhere near there. Forget walking in this weather and anyway, all the damn coughing has played havoc with ribs and stomach. Not to mention chest. Walking is not an option as well when your feet don’t alway perform the way nature intended them to.  So, the wife had to drive me there and sorry to say, she’s now developing what I just had. And she refuses to see a doctor.  Who kind of gave me what for, for waiting so long to see him as I have this chest infection for which the over the counter stuff does nothing.  I’m being long winded again but the reason for all this is my way of leading up to what I read in the instructions that came with the 50mg Doxycycline I was given. I think it’s funny. Here’s exactly what they say.  You couldn’t make it up.

YOU SHOULD TAKE THE CAPSULES EITHER SITTING DOWN OR STANDING UP. 

So I guess I can’t take em while laying flat on my back while reading a book. Which isn’t at all how I read a book anyway.
Standing up or sitting down.  ???  What exactly have I missed?  Must be here somewhere.

OK, bad news on the leaky roof thing and btw, we have a bad “rising damp” problem too. More on those later.

Microsoft makes move on the news

23rd November 2009

Rupert Murdoch has accused search engines such as Google of ‘stealing the news’
Microsoft has held secret talks with some of the world’s biggest media groups over a plan that could see millions of news stories pulled from Google.
In its most direct attack on Google yet, the software giant is understood to have offered to pay news organisations for providing their content exclusively through Microsoft’s Bing search engine.

Microsoft has held discussions with Rupert Murdoch’s News Corporation, which owns The Times and The Sun newspapers, along with a number of other media groups, sources said.
The move would see millions of news stories and feature articles blocked from the Google News service.
Severing his links with Google would represent a huge gamble for Murdoch, who like many other media owners is struggling to adapt to a world where consumers are used to getting news for free.

Google brings millions of visitors to News Corp sites, which in theory should boost the conglomerate’s online revenues.
But Murdoch believes that Google gets the better end of the deal, recently accusing search engines of ‘stealing our stories’.
‘It costs us a lot of money to put together good newspapers and good content,’ the media mogul said last week.

The Times will start charging visitors to its website in the spring, with other titles across the Murdoch empire expected to follow suit.
Murdoch’s Wall Street Journal and the Financial Times already charge hefty subscription fees for access to their websites. But experts say this works only because business executives are prepared to pay for their specialised content.

The case for getting consumers to pay for general news is less clear cut.

Online advertising revenues have so far come nowhere near to off-setting the collapse in newsstand and advertising revenues.
One possible solution is a system of micro-payments, where consumers would pay a small sum for each article or story they view.
For Microsoft, the friendly approach to the media industry is a bold statement of intent.

Microsoft re-launched its search engine as Bing this year and looks to be prepared to pay out hundreds of millions to unseat market leader Google.
Microsoft and News Corp declined to comment.

SOURCE

Not too sure about Mr. Murdoch. Are you? 

   Monday - October 05, 2009

BBC wins bid to keep star salaries under wraps (and it only cost us £200,000)

The big deal about this bit of business, is that the BBC is publicly funded.  For those who don’t know, people here pay a yearly TV license and they do try and collect using whatever means necessary.  So why shouldn’t the salaries be made public?

Thankfully, just last week we gave away the perfectly good (for now) TV set as anything I want to see is not shown on television. The set belonged to the wife’s mom who didn’t even use it the final two yrs of her life.  It just stood there in her room, silent. Truth to tell, we don’t miss TV and haven’t watched but one program in five years here.  Thank heaven for You Tube.

Even if we hadn’t given the set away, I’d have fought tooth and nail and refused to pay as others have.  Use my money to help pay millions a year to ONE foul mouthed,rude and crude individual? (pictured) Not bloody likely!

The surprise is how many folks simply buckle down and give up and pay.  I guess addictions are like that and I can only assume it is an addiction as why else would so many watch what’s on offer?  No thank You.

Think of it this way.  What if you were required to pay a license (USA) for a channel hosting Howard Stern? Even if you weren’t demented enough to think he was funny or talented or whatever.  Yes, I know millions do and millions are also tasteless and possibly very sick as well. But that’s not the point.  At least in the US you aren’t forced to get a TV license to fund things you think are gross and in very poor taste. Like the fellow pictured here who thought it quite funny when he and his sidekick made public calls to a well known actor, on air, telling the old guy all about the enjoyable sex one of em had with his grand daughter.  That’s what passed for entertainment, and this guy gets paid millions a year. Well, not with any of our money.

BBC wins bid to keep star salaries and Middle East report under wraps (and it only cost us £200,000)

By Liz Thomas
Daily Mail

Big earner: Jonathan Ross earns a reported £6million a year

The BBC has won a High Court battle to keep the salaries of its stars a secret.

The corporation spent more than £200,000 ensuring those who fund the service never know how their cash is spent.

Three years of appeals and legal wrangles mean it will not now have to disclose what it pays on-screen talent, production staff or how much money shows cost.

Mr Justice Irwin concluded that the ‘BBC has no obligation to disclose information which they hold to any significant extent for the purposes of journalism, art or literature, whether or not the information is also held for other purposes’.

Although insiders insist that details of executive pay will continue to be publicly released, the BBC could still use this ruling as a further tool to ensure it does not have to disclose the salaries of top talent.

The BBC has come under fire for the eye-watering sums it pays stars such as Jonathan Ross, Graham Norton and Chris Moyles.

Ross earns a reported £6million a year and around 40 other stars are paid more than £1million annually.

Jeremy Hunt, Tory culture spokesman, said: ‘We have long called for the BBC to open their books to the National Audit Office so licence-fee payers can be sure they are getting value for money.

‘If the BBC was more transparent about its finances then court cases like these could be avoided.’

Matthew Elliott, of the TaxPayers’ Alliance, said: ‘The BBC’s behaviour is shocking and incredibly disappointing.

‘Firstly, the fact that the Corporation has blown a fortune on lawyers trying to obscure the truth shows they see zero need for accountability, even when it’s rightfully required of them.

‘Secondly, the BBC should be entirely open and honest about how it spends licence-fee payers’ money. If they can’t justify the amount they are spending, they shouldn’t do it in the first place.

‘This is yet another example of the BBC being out of touch with the concerns of the people it is supposed to be entertaining, and who pay its keep.’

The case went to the High Court because the BBC consistently refused to comply with freedom of information requests from newspapers and members of the public.

The broadcaster was taken to the Information Commissioner, and the Information Tribunal, who both ruled that it should release the information.
Ruling: The BBC will not be forced to disclose an internal report on its Middle East coverage, or details of staff salaries

Ruling: The BBC will not be forced to disclose an internal report on its Middle East coverage, or details of staff salaries

But the BBC appealed to the High Court, which found previous hearings had not properly taken into account its evidence.

It also ruled that the broadcaster was exempt from sections of the Act as a public body, and therefore did not have to give out information relating to its programming in journalism, arts or literature.

A spokesman for the BBC said: ‘The BBC was entitled to decline to disclose the information on the basis that the Freedom of Information Act did not apply to it.’

SOURCE

Macker and BMEWS… I didn’t have this when originally posted but, here’s the other sick no talent turd who once worked for the BBC and was in on the sick joke I wrote about. And this bit of filth btw is doing well I understand, in the USA. GAK!

   Wednesday - September 30, 2009

Bye Bye EDS

A little follow up to Peiper’s post the other week about Dell Computer buying up Perot Systems.

EDS, an HP Company, Becoming HP Enterprise Services

HP today announced that EDS, an HP company, will become HP Enterprise Services.

The name change marks the next major step in a year-long integration of EDS into HP and emphasizes the growing global role of enterprise technology services in HP’s portfolio.

“Our clients expect us to harness the full power of HP’s portfolio to solve their business challenges,” said Joe Eazor, senior vice president and general manager, HP Enterprise Services. “Today we are combining the strong services brand equity that EDS has built over the last 47 years with HP’s technology leadership to become the leading IT services provider. We will continue to deliver the same service excellence that our clients have come to expect.”

To reflect the positive impact the EDS acquisition has made in expanding the breadth and depth of HP capabilities, the Technology Solutions Group will be renamed the HP Enterprise Business. This group is focused on business and government organizations of all sizes. In addition to enterprise services, its portfolio includes servers, storage, software, networking and technology services.

During the third quarter of fiscal year 2009, the HP Enterprise Business accounted for 47 percent of the company’s revenue and 60 percent of its non-GAAP operating profit.(1) All HP Enterprise Business units will continue to report to Ann Livermore, executive vice president of HP.

“Customers are facing tough challenges in their technology environments,” said Livermore. “Challenges such as a rigid infrastructure, increasing applications and information complexity are restricting the speed in which IT can add value to the business. HP is the best at helping customers manage and transform their technology environments to deliver better business outcomes.”

former EDS employees will appreciate my little graphical pun. For a long time EDS used “EDSolved” as an ad logo; see, we can solve all your problems! We (EDS employees at the time) always used to pronounce it as “ ‘e dissolved”. And now ... they have.

The rest of you can link to this YouTube video of one of their indecipherable commercials, either Running With The Squirrels or Herding Cats. We never understood them either, and we worked there at the time.

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Not that very many people ever read this far down, but this blog was the creation of Allan Kelly and his friend Vilmar. Vilmar moved on to his own blog some time ago, and Allan ran this place alone until his sudden and unexpected death partway through 2006. We all miss him. A lot. Even though he is gone this site will always still be more than a little bit his. We who are left to carry on the BMEWS tradition owe him a great debt of gratitude, and we hope to be able to pay that back by following his last advice to us all:

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2. Stay involved with government on every level and don't let those bastards get away with a thing
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It's been a long strange trip without you Skipper, but thanks for pointing us in the right direction and giving us a swift kick in the behind to get us going. Keep lookin' down on us, will ya? Thanks.

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Oh, and here's some kind of visitor flag counter thingy. Hey, all the cool blogs have one, so I should too. The Visitors Online thingy up at the top doesn't count anything, but it looks neat. It had better, since I paid actual money for it.

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