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Apple introduces iPhone and Apple TV

Wednesday, January 10, 2007

Apple Inc. today has introduced the much-anticipated iPhone at the Macworld Conference in San Francisco.

The iPhone is claimed to be “a revolutionary mobile phone” as stated on the Apple website. The device appears to be running a mobile version of the Apple operating system Mac OSX. It is approximately the same size as a 5th generation iPod, it has a 3.5-inch LCD touchscreen display that is used to access all features of the phone including number dial, as well as making phone calls. The iPhone plays music, movies, displays pictures and is able to connect to a wireless network.

Apple CEO Steve Jobs unveiled the device by walking onto the stage and taking the iPhone out of his jeans pocket. During his 2 hour speech he stated that “Today Apple is going to reinvent the phone, We are going to make history today”.

Today Apple also released their Media Center device – Apple TV. It will directly compete with Microsoft’s Media Center operating system. Apple has taken a different approach to the media center market; rather than storing content (such as movies, music and photos) on the device, Apple TV connects to a computer (Mac and Windows) over a wirless network connection and plays all content stored on that computer. This makes it substantially easier for users to organize their media content.

Scholastic sued for Harry Potter copyright infringement

Thursday, July 15, 2010

A trustee of the estate of the late author Adrian Jacobs filed a lawsuit against the US publisher of the Harry Potter series, Scholastic Inc, on Tuesday. He claimed that J. K. Rowling, the author of the Harry Potter series, had copied scenes from Jacob’s novel, The Adventures of Willy the Wizard, to the fourth novel of the series, Harry Potter and the Goblet of Fire. The suit followed a similar case last year, in which the trustee sued the UK publisher of the series, Bloomsbury Publishing plc. Both of these cases are currently pending.

The complaint stated that in both books, the protagonists “are required to deduce the exact nature of the central task in the competition”, and had done so in a bathroom. Both books also involved “rescuing hostages imprisoned by a community of half-human, half-animal creatures.” The suit also claimed that Christopher Little, a literary agent of Rowling, was originally the literary agent of Jacobs. The claim was denied by Scholastic.

Scholastic called the claim “completely without merit”. They pointed out that Rowling had said in February that she had never read Jacobs’ book. The trustee said that the US was the world’s largest foreign market, so they brought their first overseas action there. He demanded that all copies of the Harry Potter novel be destroyed, and all the profit made by the book given to him.

What To Look For In A Financial Advisor

By Jay Moncliff

Competent financial advisors don’t have a particular look about them, even if they claim to have proof of their ability. To protect yourself, it is important to ask the kind of questions that will indicate whether the potential advisor has the requisite level of skill to handle your financial affairs, or whether you should look elsewhere. The following simple questions will help you determine if the advisor under scrutiny can really help with your financial affairs.

The first enquiry you should make relates to education. Competence and quality with advisors comes in the form of a relevant tertiary education, professional memberships of financial advisory groups, and certificates or further qualifications that show ongoing professional development. It is also important to enquire about length of experience in the financial industry, and in particular how long the individual has been working as an advisor. This should be considered the first step in your financial advisor selection process.

[youtube]http://www.youtube.com/watch?v=-4Nw-xWL5Qs[/youtube]

The second avenue of enquiry relates to payment for services. This question is important as financial planners can bill hourly, work for retainer and some work on a commission basis. Each of these payment channels attract differing fee levels, and this information will influence your choice of financial advisor. It pays to know up front.

Another excellent gauge of success and ability is testimonials, and in particular referrals. If the financial planner you are considering cannot provide referrals you should be sceptical about any claims about past success they may make. The opinions of previous clients are excellent indicators of the ability of a financial planner.

Finally, ask for a plan. Any financial advisor worth their fee will happily outline the scope of their services, tell you what information you need to provide them, and work with you across all relevant areas to develop a plan for you to reach your financial goals.

About the Author: Jay Moncliff is the founder of mileniumfinancialservices.com a website specialized on Financial Advisor, resources and articles. This site provides updated information on Financial Advisor. For more info on Financial Advisor visit: mileniumfinancialservices.com

Source: isnare.com

Permanent Link: isnare.com/?aid=25529&ca=Finances

Two nuclear submarines collide in the Atlantic Ocean

Wednesday, February 18, 2009

The Nuclear ballistic missile submarines Triomphant, from France, and HMS Vanguard, of the British Royal Navy, collided deep under the middle of the Atlantic Ocean in the middle of the night between February 3 and 4, despite both vessels being equipped with sonar. The collision caused damage to both vessels but it did not release any radioactive material, a Ministry of Defence (MOD) official confirmed Monday.

A Ministry of Defence spokesman said nuclear security had not been breached. “It is MOD policy not to comment on submarine operational matters, but we can confirm that the U.K.’s deterrent capability was unaffected at all times and there has been no compromise to nuclear safety. Triomphant had struck ‘a submerged object (probably a container)’ during a return from a patrol, damaging the sonar dome on the front of the submarine,” he said.

A French navy spokesman said that “the collision did not result in injuries among the crew and did not jeopardise nuclear security at any moment.” Lack of communication between France and other members of NATO over the location of their SLBM deterrents is believed to be another reason for the crash.

According to Daily Mail, the vessels collided 1,000ft underwater in the Bay of Biscay (Golfe de Gascogne; Golfo de Vizcaya and Mar Cantábrico), a gulf of the North Atlantic Ocean. It lies along the western coast of France from Brest south to the Spanish border, and the northern coast of Spain west to Punta de Estaca de Bares, and is named for the Spanish province of Biscay, with average depth of 5,723 feet (1,744 m) and maximum depth is 9,151 feet (2,789 m).

Each submarine is laden with missiles powerful enough for 1,248 Hiroshima bombings, The Independent said.

It is unlikely either vessel was operating its active sonar at the time of the collision, because the submarines are designed to “hide” while on patrol and the use of active sonar would immediately reveal the boat’s location. Both submarines’ hulls are covered with anechoic tile to reduce detection by sonar, so the boats’ navigational passive sonar would not have detected the presence of the other.

Lee Willett of London’s Royal United Services Institute said “the NATO allies would be very reluctant to share information on nuclear submarines. These are the strategic crown jewels of the nation. The whole purpose of a sea-based nuclear deterrent is to hide somewhere far out of sight. They are the ultimate tools of national survival in the event of war. Therefore, it’s the very last thing you would share with anybody.”

First Sea Lord Admiral Sir Jonathon Band GCB, ADC of the United Kingdom, the most senior serving officer in the Royal Navy, said that “…the submarines came into contact at very low speed. Both submarines remained safe. No injuries occurred. We can confirm the capability remains unaffected and there was no compromise to nuclear safety.”

“Both navies want quiet areas, deep areas, roughly the same distance from their home ports. So you find these station grounds have got quite a few submarines, not only French and Royal Navy but also from Russia and the United States. Navies often used the same nesting grounds,” said John H. Large, an independent nuclear engineer and analyst primarily known for his work in assessing and reporting upon nuclear safety and nuclear related accidents and incidents.

President of the Royal Naval Association John McAnally said that the incident was a “one in a million chance”. “It would be very unusual on deterrent patrol to use active sonar because that would expose the submarine to detection. They are, of course, designed to be very difficult to detect and one of the priorities for both the captain and the deterrent patrol is to avoid detection by anything,” he said.

The development of stealth technology, making the submarines less visible to other vessels has properly explained that a submarine does not seem to have been able to pick out another submarine nearly the length of two football pitches and the height of a three-story building.

“The modus operandi of most submarines, particularly ballistic-missile submarines, is to operate stealthily and to proceed undetected. This means operating passively, by not transmitting on sonar, and making as little noise as possible. A great deal of technical effort has gone into making submarines quiet by reduction of machinery noise. And much effort has gone into improving the capability of sonars to detect other submarines; detection was clearly made too late or not at all in this case,” explained Stephen Saunders, the editor of Jane’s Fighting Ships, an annual reference book (also published online, on CD and microfiche) of information on all the world’s warships arranged by nation, including information on ship’s names, dimensions, armaments, silhouettes and photographs, etc.

According to Bob Ayres, a former CIA and US army officer, and former associate fellow at Chatham House, the Royal Institute of International Affairs, however, the submarines were not undetectable, despite their “stealth” technology. “When such submarines came across similar vessels from other navies, they sought to get as close as possible without being detected, as part of routine training. They were playing games with each other – stalking each other under the sea. They were practising being able to kill the other guy’s submarine before he could launch a missile.Because of the sound of their nuclear reactors’ water pumps, they were still noisier than old diesel-electric craft, which ran on batteries while submerged. The greatest danger in a collision was the hull being punctured and the vessel sinking, rather than a nuclear explosion,” Ayres explained.

Submarine collisions are uncommon, but not unheard of: in 1992, the USS Baton Rouge, a submarine belonging to the United States, under command of Gordon Kremer, collided with the Russian Sierra-class attack submarine K-276 that was surfacing in the Barents Sea.

In 2001, the US submarine USS Greeneville surfaced and collided with Japanese fishing training ship Ehime Maru (????), off the coast of Hawaii. The Navy determined the commanding officer of Greeneville to be in “dereliction of duty.”

The tenth HMS Vanguard (S28) of the British Royal Navy is the lead boat of her class of Trident ballistic missile-capable submarines and is based at HMNB Clyde, Faslane. The 150m long, V-class submarine under the Trident programme, has a crew of 135, weighs nearly 16,000 tonnes and is armed with 16 Trident 2 D5 ballistic missiles carrying three warheads each.

It is now believed to have been towed Monday to its naval base Faslane in the Firth of Clyde, with dents and scrapes to its hull. Faslane lies on the eastern shore of Gare Loch in Argyll and Bute, Scotland, to the north of the Firth of Clyde and 25 miles west of the city of Glasgow.

Vanguard is one of the deadliest vessels on the planet. It was built at Barrow-in-Furness by Vickers Shipbuilding and Engineering Ltd (now BAE Systems Submarine Solutions), was launched on 4 March, 1992, and commissioned on 14 August, 1993. The submarine’s first captain was Captain David Russell. In February 2002, Vanguard began a two-year refit at HMNB Devonport. The refit was completed in June 2004 and in October 2005 Vanguard completed her return to service trials (Demonstration and Shakedown Operations) with the firing of an unarmed Trident missile.

“The Vanguard has two periscopes, a CK51 search model and a CH91 attack model, both of which have a TV camera and thermal imager as well as conventional optics,” said John E. Pike, director and a national security analyst for http://www.globalsecurity.org/, an easily accessible pundit, and active in opposing the SDI, and ITAR, and consulting on NEO’s.File:Triomphant img 0394.jpg

“But the periscopes are useless at that depth. It’s pitch black after a couple of hundred feet. In the movies like ‘Hunt for Red October,’ you can see the subs in the water, but in reality it’s blindman’s bluff down there. The crash could have been a coincidence — some people win the lottery — but it’s much more possible that one vessel was chasing the other, trying to figure out what it was,” Pike explained.

Captain of HMS Vanguard, Commander Richard Lindsey said his men would not be there if they couldn’t go through with it. “I’m sure that if somebody was on board who did not want to be here, they would have followed a process of leaving the submarine service or finding something else to do in the Navy,” he noted.

The Triomphant is a strategic nuclear submarine, lead ship of her class (SNLE-NG). It was laid down on June 9, 1989, launched on March 26, 1994 and commissioned on March 21, 1997 with homeport at Île Longue. Equipped with 16 M45 ballistic missiles with six warheads each, it has 130 crew on board. It was completing a 70-day tour of duty at the time of the underwater crash. Its fibreglass sonar dome was damaged requiring three or four months in Drydock repair. “It has returned to its base on L’Ile Longue in Brittany on Saturday under its own power, escorted as usual by a frigate,” the ministry said.

A Ballistic missile submarine is a submarine equipped to launch ballistic missiles (SLBMs). Ballistic missile submarines are larger than any other type of submarine, in order to accommodate SLBMs such as the Russian R-29 or the American Trident.

The Triomphant class of strategic missile submarines of the French Navy are currently being introduced into service to provide the sea based component (the Force Océanique Stratégique) of the French nuclear deterrent or Force de frappe, with the M45 SLBM. They are replacing the Redoutable-class boats. In French, they are called Sous-Marin Nucléaire Lanceur d’Engins de Nouvelle Génération (“SNLE-NG, literally “Device-launching nuclear submarine of the new generation”).

They are roughly one thousand times quieter than the Redoutable-class vessels, and ten times more sensitive in detecting other submarines [1]. They are designed to carry the M51 nuclear missile, which should enter active service around 2010.

Repairs for both heavily scraped and dented, missile-laden vessels were “conservatively” estimated to cost as much as €55m, with intricate missile guidance systems and navigation controls having to be replaced, and would be met by the French and British taxpayer, the Irish Independent reported.

Many observers are shocked by the deep sea disaster, as well as the amount of time it took for the news to reach the public. ”Two US and five Soviet submarine accidents in the past prove that the reactor protection system makes an explosion avoidable. But if the collision had been more powerful the submarines could have sunk very quickly and the fate of the 250 crew members would have been very serious indeed,” said Andrey Frolov, from Moscow’s Centre for Analysis of Strategies and Technologies.

“I think this accident will force countries that possess nuclear submarines to sit down at the negotiating table and devise safety precautions that might avert such accidents in the future… But because submarines must be concealed and invisible, safety and navigation laws are hard to define,” Frolov said, noting further that there are no safety standards for submarines.

The unthinkable disaster – in the Atlantic’s 41 million square miles – has raised concern among nuclear activists. “This is a nuclear nightmare of the highest order. The collision of two submarines, both with nuclear reactors and nuclear weapons onboard, could have released vast amounts of radiation and scattered scores of nuclear warheads across the seabed,” said Kate Hudson, chair of Britain’s Campaign for Nuclear Disarmament.

“This is the most severe incident involving a nuclear submarine since the Russian submarine RFS Kursk K-141 explosion and sinking in 2000 and the first time since the Cold War that two nuclear-armed subs are known to have collided. Gordon Brown should seize this opportunity to end continuous patrols,” Hudson added. Despite a rescue attempt by British and Norwegian teams, all 118 sailors and officers aboard Kursk died.

“This reminds us that we could have a new catastrophe with a nuclear submarine at any moment. It is a risk that exists during missions but also in port. These are mobile nuclear reactors,” said Stephane Lhomme, a spokesman for the French anti-nuclear group Sortir du Nucleaire.

Nicholas Barton “Nick” Harvey, British Liberal Democrat Member of Parliament for North Devon has called for an immediate internal probe. “While the British nuclear fleet has a good safety record, if there were ever to be a bang it would be a mighty big one. Now that this incident is public knowledge, the people of Britain, France and the rest of the world need to be reassured this can never happen again and that lessons are being learned,” he said.

SNP Westminster leader Angus Robertson MP for Moray has demanded for a government statement. “The Ministry of Defence needs to explain how it is possible for a submarine carrying weapons of mass destruction to collide with another submarine carrying weapons of mass destruction in the middle of the world’s second-largest ocean,” he said.

Michael Thomas Hancock, CBE, a Liberal Democrat Member of Parliament for Portsmouth South and a City councillor for Fratton ward, and who sits on the Commons defence committee, has called on the Ministry of Defence Secretary of State John Hutton to make a statement when parliament sits next week.

“While I appreciate there are sensitive issues involved here, it is important that this is subject to parliamentary scrutiny. It’s fairly unbelievable that this has happened in the first place but we now need to know that lessons have been learnt. We need to know for everyone’s sakes that everything possible is now done to ensure that there is not a repeat of the incident. There are serious issues as to how some of the most sophisticated naval vessels in the seas today can collide in this way,” Mr. Hancock said.

Tory defence spokesman Liam Fox, a British Conservative politician, currently Shadow Defence Secretary and Member of Parliament for Woodspring, said: “For two submarines to collide while apparently unaware of each other’s presence is extremely worrying.”

Meanwhile, Hervé Morin, the French Minister of Defence, has denied allegations the nuclear submarines, which are hard to detect, had been shadowing each other deliberately when they collided, saying their mission was to sit at the bottom of the sea and act as a nuclear deterrent.

“There’s no story to this — the British aren’t hunting French submarines, and the French submarines don’t hunt British submarines. We face an extremely simple technological problem, which is that these submarines are not detectable. They make less noise than a shrimp. Between France and Britain, there are things we can do together….one of the solutions would be to think about the patrol zones,” Morin noted, and further denying any attempt at a cover-up.

France’s Atlantic coast is known as a submarine graveyard because of the number of German U-boats and underwater craft sunk there during the Second World War.

Arranging The Nursery Furniture For Convenience, Safety And Style

byphineasgray

You could hire an interior designer to arrange the nursery furniture or just follow tried and true principles. The main considerations are safety, convenience and style. Safety issues include concerns like placing furniture on throw rugs and creating a tripping hazard or placing furniture too close to a heater. Convenience issues concern placing furniture so that it makes it as easy as possible take care of the infant. The last consideration is style, or the nursery’s appearance.

Safety First!

When you are placing furniture in the nursery, it is very important to ensure that tripping hazards are eliminated as much as possible. You also want to locate furniture in a way that minimizes the risk of running into it. While holding an infant, tripping or hitting furniture while walking through the room presents a risk of injury for both you and the baby.

Of course, throw rugs should always be used cautiously. It is much too easy to trip or slip on a them.

Another safety consideration concerns crib placement. The crib should be placed so the baby is not exposed to window drafts or sunlight exposure. For several days, you may need to study how sunlight hits the room, keeping in mind that the angle of the sun will change through the seasons. The most cautious approach is to place the crib on the side of the room where there is no window, or even in the middle of the room if that is not possible.

By placing the crib close to the door’s room, you can avoid walking across the room in the middle of the night too. During the night is when the danger of tripping is highest. However, the nursery should always have a nightlight burning during the dark hours of the day.

Convenience Second!

In terms of convenience, you want to place hampers, rockers, storage units and other frequently used items where they are easily accessible. For example, the hamper should be placed close to the changing table, so you do not have to walk across the room to drop dirty clothes into it.

If you frequently read to the baby, then the bookcase can be placed on the same side of the room as the rocker in which you rock the infant. When reading time is done, the book can be easily put away.

Style Third!

The nursery style includes décor, furniture arrangement, visual appeal and room balance. There are a number of things to keep in mind when designing the nursery.

* Do not overcrowd the room with baby furniture* Do not bunch up furniture, like placing a hamper, bookcase and chair side-by-side-by-side* Consider the shape of the room and the shape and size of the furniture to determine the best placement* Use the baby furniture to enhance the room’s appearance in terms of space by creating focal points to break up empty space in long rooms or very large rooms* Choose a color scheme and stick with it because too many colors can make a nursery look too busy* Remember to place furniture so there is room to open room doors, cabinet doors, dresser drawers and so on

The nursery becomes one of the most used rooms in a house. Interior design considerations are about much more than just visual appearance. It is concerned with ensuring the room can be conveniently used in a safe manner. The nursery décor is a stylish bonus.

Check out Gotobaby for really unique and creative children’s furniture of all kinds.

Former Satyam CEO Raju, his brother and CFO arrested and detained in profit-fraud scandal

Monday, January 12, 2009

Byrraju Ramalinga Raju, founder and chairman of Satyam Computer Services, and his brother, B. Rama Raju, the company’s managing director, were arrested late Friday by Andhra Pradesh police. The brothers were placed under judicial custody in a Hyderabad, India jail and will remain there until January 23. Facing charges of criminal breach of trust (Section 406 of IPC), criminal conspiracy (Section 120-B), cheating (Section 420), falsification of records and forgery (Section 468), and fraudulent cancellation of securities (Section 477-a), they face up to ten years imprisonment if convicted.

After 18 hours of interrogation by the Crime Investigation Department (CID) at the state police headquarters, the Raju brothers were sent to the Chanchalguda prison and slept Saturday night on the floor along with 26 other low-risk inmates.

S. Bharat Kumar, the Rajus’s lawyer, asked the magistrate to issue orders for health monitoring. “His blood pressure is fluctuating and he needs medical treatment,” said Bharat Kumar. Mr. Raju appeared before the court Saturday while a team of doctors visited him after he had complained of chest pain.

Raju has Hepatitis-C, and both brothers have high blood pressure, so health precautions are necessary while imprisoned. Prison rules mandate service of jail food thrice a day. The menu includes 650 gm of rice thrice a day with 250 gm of vegetable curry and 125 gm of ‘daal’ plus tea twice a day.

Satyam’s chief financial officer Vadlamani Srinivas, who was also arrested Saturday, had undergone preliminary investigation and appeared Sunday before a special court, according to A. Sivanarayana, Andhra Pradesh additional director general of police. Srinivas was remanded to judicial custody until January 23 by Mr. D. Ramakrishna, Sixth Chief Metropolitan Magistrate, and sent to the Chanchalguda jail with the Raju brothers after interrogation by CID’s Crime Branch (the CB-CID). During his Saturday night arrest and probe by CB-CID, Srinivas made revelations which are contained in his confession letter as submitted to Network 18. “According to me fixed deposits are unreal and fictitious which were managed and was an understanding between the audit section management,” Srinivas stated.

The Hyderabad court on Monday postponed the bail hearings of the Raju brothers and Srinivas to January 16. To be defended by a battalion of 25 lawyers, the three accused will remain in Chanchalguda Central Jail until further court order. The Raju brothers were shifted Sunday to a mid-size Old Hospital Barrack cell shared with a bootlegger.

Contents

  • 1 The offences
  • 2 About Satyam Computer Services
  • 3 Impact on Satyam Computer Services finances and reactions
  • 4 Related news
  • 5 Sources

In 2008, the company struggled to purchase two infrastructure companies founded by family members of company founder and CEO Dr. Raju – Maytas Infrastructure and Maytas Properties – for $1.6 billion, despite concerns raised by independent board directors. Dr. Raju tendered his resignation on January 7 after due notice of falsified accounts to board members and the SEBI.

Since January 7 when two lawsuits were commenced, dozens of other class action law suits were filed against Satyam for hundreds of millions of dollars damages based on fraud in the United States District Court for the Southern District of New York in Manhattan, among others. The securities fraud class-action lawsuits have been filed on behalf of investors who bought Satyam American Depositary Receipts (ADRs) since 2004.

On Wednesday Dr. Raju admitted to falsifying and overstating Satyam’s cash reserves by $1B US dollars (£661m) or 94% of its cash and bank balances on books at the end of September.

The fraud was perpetrated several years ago to bridge “a marginal gap” between actual and accounting books operating profits, and continued for several years. “It was like riding a tiger, not knowing how to get off without being eaten,” B. Raju said.

In a letter to the board, Dr. Raju said that neither he nor the managing director had benefited financially from the inflated revenues. Further claiming that none of the board members had any knowledge of the dire company situation, he noted that Satyam’s balance sheet as of the September 30, 2008, carried inflated figures for cash and bank balances of INR 5,040 crore (as against INR 5,361 crore reflected in the books). He alleged it also carried an accrued interest of INR 376 crore which was non-existent. He confessed that he himself prepared an understated liability of INR 1,230 crore on account of funds amid an overstated debtors’ position of INR 490 crore (as against INR 2,651 crore in the books).

Indian analysts have compared the Satyam-Raju scandal to the infamous American Enron scandal. Immediately following the media expose, PricewaterhouseCoopers, auditor of Satyam’s accounts, was set to be probed for complicity in the controversy. Times Now has reported that the Andhra Pradesh CID arrested PricewaterhouseCoopers (PWC) representative Gopal Krishnan for investigation on Saturday night.

New York-listed Satyam Computer Services Ltd., India’s fourth-biggest software firm, is a consulting and information technology services company based in Hyderabad, India. Founded in 1987 by Dr. Byrraju Ramalinga Raju, Satyam’s network spans 67 countries on six continents. It employs 53,000 professionals in India, the United States, the United Kingdom, the United Arab Emirates, Canada, Hungary, Singapore, Malaysia, China, Japan, Egypt and Australia. Its monthly salary outflow is estimated at six billion rupees ($125 million). Deriving more than half of its revenues from the United States, it serves 700 global companies, 185 of which are Fortune 500 corporations.

Satyam’s clients include Nestle, Ford, General Electric Co., General Motors Corp., Nissan Motor Co., Applied Materials Inc., Caterpillar Inc., Cisco Systems Inc. and Sony Corp., and brought in about $40bn last year.

In December 2008, a failed acquisition attempt involving the company Maytas led to a plunge in Satyam’s share price. After Wednesday’s confession, Satyam stocks fell further by more than 70%, while the BSE SENSEX dropped to 7.3% Wednesday, causing the removal of Satyam Computer Services from its indices on Thursday. The shares free fell to 11.50 rupees on Friday, their lowest level since March 1998, compared with around last year’s high of 544 rupees.

The New York Stock Exchange has terminated trading in Satyam stock as of January 7, while the National Stock Exchange of India said it will remove Satyam from its S&P CNX Nifty 50-share index from January 12.

India’s biggest-ever corporate fraud has seriously tainted India Inc.‘s strong corporate governance image. “The admission of fraud in financial affairs has created an adverse impression in the minds of trade, business and industry across the world,” the Indian government admitted. The government intervened on Friday night, dismissing Satyam’s board of directors, announcing it will appoint representatives to manage the affairs of the insolvent outsourcing giant. The board would meet within seven days. Dr Yeduguri Samuel Rajasekhara Reddy, chief Minister of State of Andhra Pradesh, India, on Sunday said that the main agenda is to protect the jobs of the software professionals. “We are taking all needful steps in coordination with the government of India to ensure that the jobs of 53,000 engineers are protected and the shareholders’ money is salvaged,” Reddy said.

“We are working on the names. The Satyam case is an aberration. The credibility of the Indian corporate sector in general, and IT sector in particular, should not be allowed to suffer because of this.” Prem Chand Gupta, the Corporate Affairs Minister said. The Federal Government of India appointed a three-member independent board with full authority for Satyam on Sunday and was set to convene within 24 hours. “We have appointed Deepak Parekh, chairman of Housing Development Finance Corporation, Kiran Karnik, former president of IT industry body NASSCOM and C. Achutan, former member of Securities and Exchange Board (SEBI) of India,” Mr. Gupta said.

In early Monday trading (0535 GMT) after the creation of the three-member board, Satyam shares rocketed upwards 60% to 38.15 rupees, even though the main Mumbai market was down more than 2%. BBC reported that Satyam shares have jumped 51% to 36.05 rupees on Monday after the stock lost 87% last week. “The constitution of the new board is seen as a positive step by the market. It’s a confidence boosting measure,” K.K. Mital, Globe Capital, New Delhi head of portfolio management services said. “But the rally will depend largely on the financial situation at the company and the kind of measures that are taken to improve liquidity,” he added.

The Company Law Board, however, has requested Satyam’s interim board not to implement its decisions. “We are asked by the Company Law Board not to implement the decisions of the board. But we are allowed to continue our activity. The team which was constituted recently is continuing its work,” Satyam head global marketing and communications, Mr. Hari Thalapalli, said.

Lazard Ltd., who has a 7.4% stake in Satyam, sought representation on the new board and wrote as much to The Indian Ministry of Corporate Affairs. “As the largest shareholder in the company, we want to be consulted in whatever decisions are being taken by the Indian government. We have written to the Ministry of Corporate Affairs and are awaiting a reply from them,” Hitesh Jain, a partner at ALMT Legal, who claimed to represent Lazard, said. “It is a fair proposal and we will take a decision as and when we clear other issues. No decision on this has been taken yet,” P.C. Gupta replied.

Meanwhile, the Securities and Exchange Board of India (SEBI) also announced it will try to control the damage and take steps to boost investor confidence. “This exercise will be undertaken after the third quarter results and is expected to be completed by end of February this year,” a SEBI official statement said. A SEBI team is also investigating acting-CEO Ram Mynampati whose salary was greater than that of founder Dr. Raju and all the directors combined. Dr. Raju had just one fifth of Mynampati’s total package of over Rs 3.5 crore as of March 2008. All the directors comparably received only a total of Rs 2.6 crore as salary, commissions, sitting fees, professional fees and other receivables.

Further, the Andhra Pradesh Police CID and teams assigned by the Economic Offences Wing of the CB-CID conducted searches Sunday of homes of the accused including the ex-CFO’s office to gather documentary evidence about the financial fraud.

Ontario Votes 2007: Interview with Green Party candidate Lloyd Helferty, Thornhill

Sunday, October 7, 2007

Lloyd Helferty is running for the Green Party of Ontario in the Ontario provincial election, in the Thornhill riding. Wikinews’ Nick Moreau interviewed him regarding his values, his experience, and his campaign.

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

Earthquake, tsunami combo caused devastation in Pichilemu, Chile

Thursday, March 4, 2010

Pichilemu, Chile – Last Saturday, Chile was hit by a 8.8 earthquake. Many coastal towns were also hit by a tsunami, and Pichilemu was one of them. Its inhabitants were surprised by the giant waves that destroyed the most of the costanera and that reached the city square.

Pichilemu, that means in Mapudungun language small forest, is one of the most famous Chilean resort towns in the central zone of Chile. It is recurrently visited by surfers from all the world, because the Punta de Lobos beach is considered one of the best for surf practice worldwide.

Central Pichilemu was not severely damaged by the earthquake, but the tsunami caused significant destruction. The Fishermen Creek, located in front of the beach, was completely destroyed, and its machines are now unusable. Most of the Agustín Ross architecture that characterized the city, three of them being National Monuments of Chile, were damaged. The Agustín Ross Mirador, a famous location in front of the beach, located less than 200 meters from the Fisherman Creek, was completely destroyed. Its famous balustrades were washed away or thrown asunder. Many restaurants, kiosks and a circus were affected by the tsunami.

The rural parts of Pichilemu, like Ciruelos, Rodeillo and Espinillo feature houses constructed from adobe. Many were more than 100-years old, and were destroyed or are now uninhabitable.

The most powerful aftershock was produced almost 40 kilometers in front of the coast of Pichilemu, at the 03:10 local time (07:10 UTC) in March 2, with an intensity of 5.5 in the Richter scale, according to the USGS.

The Intendant of the O’Higgins Region, Juan Núñez, had a meeting with the Governor of the Cardenal Caro Province, Loreto Puebla, the Mayor of Pichilemu, Roberto Córdova, and naval and military authorities, juntas de vecinos representatives. They decided to leave the Carabineros police force to maintain the security of the city.

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The Arturo Prat square was severely damaged by the earthquake and later by the tsunami. In the left picture, can be seen some kiosks, all of them were destroyed, as can be seen on the right picture. Image: Diego Grez.

A boat that was originally in front of the Fisherman Creek of Pichilemu, was thrown almost a block away by the powerful tsunami that hit Chile last Saturday. Image: Diego Grez.

A fair was located in front of the beach, called Feria Internacional Artesanal, where Peruvian and Chilean craftsman were selling their crafts. All of their premises were destroyed, and later looted by the people that were passing by the costanera. Image: Diego Grez.

This is how looked the Agustín Ross ‘Mirador’ (balcony) in the past. Image: Diego Grez.
The Famous Agustín Ross balcony (mirador), before and after the earthquake and tsunami. Image: Diego Grez.

A strong aftershock was originated around Pichilemu, in March 5, 2010, at 12:34:32 AM at epicenter (03:34:32 AM UTC). Image: USGS.

Actor Robert Blake acquitted

Thursday, March 17, 2005

Visibly relieved and sobbing as the verdict was read, Robert Blake was acquitted on all counts and walked out of the courtroom yesterday a free man.

Charged with murdering his wife, the jury acquitted Blake due to lack of evidence. He was also charged with two counts of soliciting to have his wife Bonnie Lee Bakley killed. The jury acquitted him on one count, and the judge dismissed the second after the jury became deadlocked in an 11-1 vote.

He was greeted by a crowd of cheering supporters outside the courthouse. The star of the television series Baretta crushed out one of his trademark cigarettes and spoke to the gathering, thanking his lawyers and private investigators who he described as, “This small band of dedicated warriors that saved my life.”

In a speech that lasted 30 minutes, he talked of having to spend $10 million for his defense and said that he was now a poor man who needed a job. The 71 year-old actor also said he was ready to “cowboy it…Get in a motor home or van, feel the wind in my hair and find a little bar in Arizona or someplace.”

The prosecution, which did not seek the death penalty, painted Blake as caught in a loveless marriage with Bakley. Tricked into marrying her by his love of their daughter Rosie, now 4, they claimed that he had felt trapped by a woman who had a history of being a low-life grifter. They alleged that Blake, frustrated after trying to find someone to kill his wife for him, killed her himself. They also claimed that he was the trigger man who, after dining with his wife in their favorite restaurant, put two bullets in her head as the two of them sat in their car outside.

The jury foreman in the trial, Thomas Nicholson, described the prosecution case against Blake as “flimsy.” He said “they could never connect all the links in the chain. We couldn’t put the gun in his hand.” Blake’s defense team was also able to successfully discredit witnesses who testified on the solicitation charges.

World’s oldest living woman dies at age 115

Friday, January 19, 2007

The world’s oldest known woman, Montrealer Julie Winnefred Bertrand, died on Thursday, passing away peacefully in her sleep.

She earned the distinction as the oldest living woman when 116-year-old Elizabeth Bolden of Tennessee, U.S.A. died on December 11, 2006.

Bertrand was born on September 16, 1891 in Coaticook, a town in Quebec’s Eastern Townships, and lived there for the majority of her life. She was the oldest of six children, and never married. She moved to Montreal after the death of her parents, and later moved into a nursing home.

She had never left her sixth-floor room in the nursing home for two years, but unexpectedly, she asked to tour the building the day before she died.

Bertrand will be buried in Coaticook.

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