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Friday, January 12, 2007

The iPhone only made its appearance as a prototype and there have been controversies aroused.

The dispute has come up between the manufacturer of the iPhone (which was resented on Wednesday for the first time) – Apple Inc. – and a leader in network and communication systems, based in San Jose – Cisco. The company claims to possess the trademark for iPhone, and moreover, that it sells devices under the same brand through one of its divisions.

This became the reason for Cisco to file a lawsuit against Apple Inc. so that the latter would stop selling the device.

Cisco states that it has received the trademark in 2000, when the company overtook Infogear Technology Corp., which took place in 1996.

The Vice President and general counsel of the company, Mark Chandler, explained that there was no doubt about the excitement of the new device from Apple, but they should not use a trademark, which belongs to Cisco.

The iPhone developed by Cisco is a device which allows users to make phone calls over the voice over Internet protocol (VoIP).

Tuesday, July 3, 2007

New currency notes are being introduced in Ghana today. The new currency, to be called the Ghanaian cedi, replaces the previous cedi which has been in circulation since 17 February, 1967.

The Ghanaian cedi will be exchanged at 10,000 old cedis to one new Ghanaian cedi. The exchange rate against the U.S. dollar starts at GH¢0.92 to one U.S. dollar. The new ISO code for the currency is GHS, and the new symbol, GH¢.

The change, which was originally scheduled by the Bank of Ghana to start on July 1, 2007, will instead start on Tuesday July 3, as the original date is Ghana’s Republic Day.

Monday, July 2, was declared a public holiday as the actual Republic Day fell on a Sunday. July 3, is thus the first day that the currency will be available to the public as banks open to the general public. This is because ATMs were shut down over the weekend so that the currencies could be checked and replaced in all of them nationwide. The old and new currencies will be used concurrently until the end of December 2007, when the old currency will cease to be legal tender.

This is the third Ghanaian cedi to be introduced in the country since 1965.

Friday, February 13, 2009

A Continental Connection flight from Newark to Buffalo crashed into a house about four to six miles from Buffalo Niagara International Airport on Thursday night, killing 50 people, officials said.

Continental Airlines Flight 3407 is a daily commuter flight from Newark Liberty International Airport in Newark, New Jersey to Buffalo, New York, operated under the Continental Connection brand by Virginia-based regional airline Colgan Air.

The Buffalo News has reported that the plane, a Bombardier Dash 8 turboprop with tail number N200WQ has crashed into a home located at 6038 Long Street, not far from the Clarence Center Fire Hall in the Buffalo suburb of Clarence Center approximately 10:17 p.m. EST (03:20 UTC), Thursday, February 12, 2009. Three people were inside the house.

According to Becky Gibbons of New York State Police and Chris Collins County Executive in Erie County, New York, the total number of fatalities is 50, including 45 passengers, four crew members and a person on the ground, while a woman and daughter on the ground were injured, near the edge of farmland, about seven miles from Buffalo Niagara International Airport.

Karen Wielinski, age 57, and her daughter, Jill, age 22 were brought to Millard Fillmore Suburban Hospital in Williamsville where they are in stable condition in the emergency room. The father, Douglas C. Wielinski, 61 died from his injuries. Two volunteer firefighters are also being treated for smoke inhalation and minor injuries. They are expected to be released later Friday morning.

The crew member names have been released as of 8:20 AM EST, and are listed as: Captain Marvin Renslow, First Officer Rebecca Shaw, Flight Attendant Matilda Quintero, Flight Attendant Donna Prisco, and Captain Joseph Zuffoletto who was an off-duty crew member.

One of the crash victims, Beverly Eckert, of Stamford, Connecticut and widow of 9/11 terror attack victim, Buffalo native, Sean Rooney, was coming home for her husband’s 58th birthday celebration. Her sister, Sue Bourque noted to The Buffalo News, “We know she was on that plane and now she’s with him.” Chris Kausner has said his sister Elise, age 24, a law student, was on board the plane. “I’m thinking about the fact that my mother has to fly home from Florida and what I’m going to tell my two sons,” he said.

The plane, which was carrying over 2.5 tonnes (5,000 pounds) of fuel, impacted a residence that was completely destroyed. Amid rain and sleet, the ill-fated plane exploded into a huge orange fireball, sparking a large fire which emergency crews had to contain. Twelve houses near the crash site were evacuated.

The aircraft in question was on approach to land at the nearby Buffalo Niagara International Airport when it disappeared from radar.

According to recordings from air traffic control, the pilot did not report any problem to approach control, and could not be contacted by the Buffalo tower after handoff. “Can other planes see anything?” asked the traffic controller, but no one has responded. The pilot’s last comment was “Colgan Flight 3407,” but there were no sounds of distress.

The Buffalo News has reported that crew members aboard the flight from Newark Airport reported mechanical problems as they approached Buffalo. Weather conditions were reported to be a wintry mix in the area, with light snow, fog, and 17 mile per hour winds.

In the 31-minute audio-recording there are conversations between the cockpit, air traffic control and other aircraft in the vicinity. Following take-off from Newark Airport, a female voice (pilot) in the 3407 plane’s cockpit is heard informing air authorities that her aircraft was turning on approach to landing. The pilot stopped communicating at 2,300ft.

“This aircraft was 5 miles out, all of a sudden we have no response from that aircraft,” the controller declares. 21 minutes and 45 seconds into the recording, the control tower informs a JetBlue Airlines: “…apparently we have an emergency, I’ll have to get back to you,” reported The Daily Telegraph.

“It was cold, snowing and dark but these planes are designed to fly in icy conditions. However, those conditions can be very fickle and if ice builds up on a plane it can be very difficult. At this time of year, when a pilot crashes approaching an airport that they will know well, the first thing you look at is the weather,” said David Learmount, of Flight International.

Continental Airlines Inc. said Colgan Air was in the process of collecting information. “Continental extends its deepest sympathy to the family members and loved ones of those involved in this accident. We are providing our full assistance to Colgan Air so that together we can provide as much support as possible for all concerned,” said Larry Kellner, CEO of Continental Airlines since December 2004.

The Bombardier Dash 8 a 74-seat is a twin-engined, medium range, turboprop airliner.

According to the Ascend Online Fleets database, Colgan, a company of about 1,100 employees has a fleet of 15 Bombardier Dash 8’s, along with 3 Hawker Beechcraft 1900D and 38 Saab 340B turboprops. Flight 3407’s airplane was less than one year old and had flown for only about 1,500 hours, said Kieran Daly, of the online aviation news service Air Transport Intelligence, saying that the doomed turboprop plane is one of the safest of its type.

Scandinavian Airlines (SAS) has permanently grounded its Dash 8s fleet after three crash landings during a two-month period in 2007 caused by faulty landing gear. “Confidence in the Q400 has diminished considerably and our customers are becoming increasingly doubtful about flying in this type of aircraft,” said Mats Jansson, SAS president and CEO. “I have decided to immediately remove Dash 8 Q400 aircraft from service,” he added.

“There is ‘no indication of any security related event’ that brought the plane down,” said FBI spokesman Richard Kolko. Conditions of freezing drizzle, known as hard rime, were the most likely cause of the tragedy.

The National Transportation Safety Board (NTSB) has announced that they would send a team to the crash site on Friday to begin the investigation. Lorenda Ward will serve as chief investigator with the assistance of NTSB Commissioner Steven Chealander and public affairs officer Keith Holloway. Ward has investigated several other plane crashes — including the 2006 New York City plane crash that claimed the life of New York Yankees pitcher Corey Lidle.

“We are deeply shocked and saddened by the tragic accident that occurred tonight in Clarence. Our focus right now is on supporting the first responders on the ground and their efforts to ensure the health and safety of people in the area,” said Chris Lee, an Republican politician from Corning, New York, representing the 26th Congressional District of New York.

The tragedy is the nation’s deadliest disaster since the Comair Flight 191 crashed in Lexington, Kentucky in August 2006. Delta Air Lines Flight 5191 was a scheduled U.S. domestic passenger flight from Lexington, Kentucky, to Atlanta, Georgia. On the morning of August 27, 2006, the Bombardier Canadair Regional Jet 100ER that was being used for the flight crashed while attempting to take off from Blue Grass Airport in Fayette County, Kentucky, four miles (6 kilometers) west of the central business district of the City of Lexington.

Financially, Continental is faced with volatile fuel prices amid a slowdown from the weak economy. It has posted losses of $585 million for 2008.

Tuesday, February 1, 2011

The president of Egypt has suffered a “devastating blow” after the country’s army announced they would not use force against their own people, who continue to protest against the government tonight. The news came hours after six journalists who reported on the protests were released from custody.

Hosni Mubarak yesterday announced a new cabinet, which does not include several figures who protesters largely do not approve of. Analysts have, however, suggested little had changed within the government; many positions, they say, are filled with military figures.

In a statement broadcast on state media in Egypt, the army said: “To the great people of Egypt, your armed forces, acknowledging the legitimate rights of the people … have not and will not use force against the Egyptian people.” A BBC correspondent in Cairo said the announcement meant it “now seems increasingly likely that the 30-year rule of Mr Mubarak is drawing to a close.”

“The presence of the army in the streets is for your sake and to ensure your safety and wellbeing. The armed forces will not resort to use of force against our great people,” the statement added. “Your armed forces, who are aware of the legitimacy of your demands and are keen to assume their responsibility in protecting the nation and the citizens, affirms that freedom of expression through peaceful means is guaranteed to everybody.”

Earlier today, six journalists from the independent news network Al-Jazeera were released from custody after being detained by police. The U.S. State Department criticized the arrests; equipment was reportedly confiscated from the journalists.

Egyptian officials yesterday ordered the satellite channel to stop broadcasting in the country. Al-Jazeera said they were “appalled” by the government’s decision to close its Egyptian offices, which they described as the “latest attack by the Egyptian regime to strike at its freedom to report independently on the unprecedented events in Egypt.”

In a statement, the news agency added: “Al-Jazeera sees this as an act designed to stifle and repress the freedom of reporting by the network and its journalists. In this time of deep turmoil and unrest in Egyptian society it is imperative that voices from all sides be heard; the closing of our bureau by the Egyptian government is aimed at censoring and silencing the voices of the Egyptian people.”

On Friday, Wikinews reported the government had shut off practically all Internet traffic both out of and into the nation, as well as disrupting cellphone usage. A spokesperson for the social networking website Facebook said “limiting Internet access for millions of people is a matter of concern for the global community.”

A reported 50,000 campaigners, who are demanding the long-time leader step down and complaining of poverty, corruption, and oppression, filled Tahrir Square in Cairo today, chanting “We will stay until the coward leaves.” It is thought 100 people have so far died in the demonstrations. Today there have been protests in Suez, Mansoura, Damanhour, and Alexandria.

Speaking to news media in the area, many protesters said the new cabinet did little to quell their anger. “We want a complete change of government, with a civilian authority,” one said. Another added: “This is not a new government. This is the same regime—this is the same bluff. [Mubarak] has been bluffing us for 30 years.”

In Tahrir Square today, protesters played music as strings of barbed wire and army tanks stood nearby. Demonstrators scaled light poles, hanging Egyptian flags and calling for an end to Mubarak’s rule. “One poster featured Mubarak’s face plastered with a Hitler mustache, a sign of the deep resentment toward the 82-year-old leader they blame for widespread poverty, inflation and official indifference and brutality during his 30 years in power,” one journalist in the square reported this evening.

Monday, June 1, 2009

In a televised speech from the White House at 16:00 UTC today, President of the United States Barack Obama presented a reorganization plan following the 12:00 UTC announcement by General Motors that it had filed for bankruptcy and Chapter 11 protection from its creditors, the largest bankruptcy of a U.S. manufacturing company.

Describing the problem with the company as one that had been “decades in the making,” Obama explained the rationale behind his proposed reorganization plan for General Motors. He stated that his intent was not to “perpetuat[e] the bad business decisions of the past,” and that loaning General Motors money, when debt was its problem, would have been doing exactly that. His plan, he stated, was for the United States government, in conjunction with the governments of Canada and Ontario (which he thanked for their roles alongside the government of Germany which he thanked for its role in selling a corporate stake in GM Europe), to become shareholders in General Motors. The United States government would hold a 60% stake. The government will give GM a capital infusion of US$30 billion in addition to the funds it has already received.

Of the government ownership he stated that he refused “to let General Motors and Chrysler become wards of the state”, and described the bankruptcy of Chrysler, and the bankruptcy of General Motors that he envisioned as being “quick, surgical, bankruptcies”. He pointed to the bankruptcy of Chrysler as an example of what he envision for General Motors, but stated that General Motors was a “more complex company” than Chrysler.

Responding to challenges voiced by political opponents, before the speech, that the federal government would actively participate in the affairs of the restructured company, he stated that he had “no interest” in running GM, and that the federal government would “refrain from exercising its rights” as a corporate shareholder for the most part. In particular, he stated that the federal government would not exercise its rights as a shareholder to dictate “what new type of car to make.” He stated that he expected the restructured GM to make “high quality, safe, and fuel-efficient cars of tomorrow,” and several times described what he anticipated as “better” and “fuel-efficient” cars, after a streamlining of GM’s brands.

He said to the general public that “I will not pretend that the hard times are over.” He described the financial hardship that some — shareholders, communities based around GM plants, GM dealers, and others — would undergo as a “sacrifice for the next generation” on their parts, so that their children could live in “an America that still makes things,” concluding that one day the United States might return to a time when the maxim (a widely-repeated mis-quotation of what Charles Erwin Wilson once testified before the U.S. Senate when nominated for the position of Secretary of Defense) would once more be true that “what is good for General Motors is good for the United States of America.”

Wednesday, March 18, 2009

United States President Barack Obama stated Monday that insurance giant AIG is in financial trouble due to “recklessness and greed,” and called for legal action to stop the company from giving out millions of dollars in bonuses to its executives.

“It’s hard to understand how derivative traders at AIG warranted any bonuses, much less $165 million in extra pay,” Obama said. “How do they justify this outrage to the taxpayers who are keeping the company afloat.”

Obama’s statement comes after reports surfaced last weekend saying the insurance agency, which is in deep financial trouble, had paid US$165 million to executives in bonuses, after receiving $170 billion as part of a government bailout plan.

AIG has said that the bonuses have to be given out, as the company is legally required by contract to do so. A representative with the National Economic Council, Lawrence H. Summers, also said that the bonuses were required to be given out. If AIG had refused to give out the bonuses, employees could file a lawsuit against the company for the money.

“We cannot attract and retain the best and the brightest talent to lead and staff the A.I.G. businesses — which are now being operated principally on behalf of American taxpayers — if employees believe their compensation is subject to continued and arbitrary adjustment by the U.S. Treasury,” AIG CEO Edward M. Liddy said in a letter addressed to Treasury Secretary Timothy F. Geithner on Saturday.

Liddy said that he asked Geithner “to use that leverage and pursue every legal avenue to block these bonuses and make the American taxpayers whole.”

“I want everybody to be clear that Secretary Geithner’s been on the case,” Obama said. “He’s working to resolve this matter with the new CEO, Edward Liddy, who, by the way, everybody needs to understand, came on board after the contracts that led to these bonuses were agreed to last year.”

If the bonuses cannot be stopped, the U.S. Congress says they want AIG to reimburse the government. Congress is looking to impose stiff new taxes on the pay, or ordering the company to return the money which was originally granted from a government bailout. In a letter to House Speaker Nancy Pelosi on Tuesday, senator Richard Shelby promised that the treasury will recover all of the money. Several U.S. senators along with Liddy have sent letters to AIG asking for the bonuses to be renegotiated, something AIG agreed to and says they will reduce future bonuses by 30%. Senators state that if Libby does not respond by renegotiating the bonuses, the Senate Finance Committee will propose an excise tax. Not only will an excise tax be proposed on AIG, but all companies receiving bailout money and their employees who receive bonuses.

Numerous House Democrats have introduced legislation which would place a 100% tax on any bonuses of over $100,000 from companies that are receiving government bailout funds. Meanwhile in the Senate, a bipartisan proposal by Max Baucus (D-Montana) and Charles Grassley (R-Iowa) would levy a special 90% excise tax on AIG’s bonuses. Asked Senator Baucus, who chairs the Senate Finance Committee: “What is the highest excise tax we can impose that will stand up in court? Let’s find out.”

Saturday, October 17, 2009

Prices for crude oil reached a one-year high on Friday, as increasing industrial production in the United States raised hopes that the economic recession might be easing.

US Crude oil futures gained for the seventh straight day, and has increased by 12.9% since October 7, and is now just above US$78 a barrel. The move came after a report released by the US Federal Reserve indicated a 0.7% rise in factory output.

Brent crude oil was also up, gaining 76 cents to reach $76.99.

Paul Crovo, an oil analyst based in Philadelphia, Pennsylvania for PNC Capital Advisors, said that there were increasing hopes that the economy would rebound. “There continues to be optimism about an economic rebound. Prices have been rising on speculation that this will lead to a tightening of the supply-demand balance going forward,” he said.