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Monday, January 24, 2005

Riga, Latvia — The Central Bank of Lithuania announced that it plans to adopt the common European currency, the euro in 2007, and replace its national currency, the litas.

Lithunia intends to introduce the use of the euro as an official currency on January 1, 2007, where it will be used alongside the litas until January 15. From January 15, the euro would become the only official means of payment.

Lithuania joined the European Union in 2004, and like the other new member states, it is obliged to adopt the euro when it is ready. However, in order to adopt the euro, a country must be part of the EU’s Exchange Rate Mechanism II (ERM II) for at least two years. During that time, the currency must not fluctuate more than 2.25% in relation to the euro. Additionally, the budget deficit should be under 3% of gross domestic product.

Lithunia became part of ERM II in June 2004, meaning that the earliest it could join the euro would be in June 2006. However, its target is 2007, which, at the present moment, seems to be achievable, considering the country’s low inflation and budget deficit. The litas has been pegged to the euro, since February 2002, at a rate of 1 euro = 3.45 litas.

So far, only 12 out of the 25 members of the European Union have adoped the euro. However, in the next decade, it is expected that most, if not all, of the ten new member states will adopt the currency. Lithuania is expected to be the first to adopt the currency, in 2007. Estonia and Slovenia, which are the only other new member states that are part of ERM II, are also expected to join the common currency at this time.

Larger countries like Hungary, Czechia and Poland, which are not yet part of ERM II, may have to wait until 2010 at least, due to their large budget deficits.

Lithuania has been one of the most enthusiastic new member states concerning European integration. Besides its early adoption of the euro, it was the first country in the EU to ratify the European Constitution.

Friday, March 13, 2009

Two life boats were empty, one person is dead and sixteen others are missing after a helicopter crashed into the frigid north Atlantic Ocean reported search and rescue official, March 12. The Sikorsky S92 helicopter sunk below the surface and the debris field was located about 47 nautical miles (87 km; 54 mi) southeast of St. John’s, Newfoundland and Labrador.

Maydays and alerts were sent at 9:18 local NL time (7:48 EST). The helicopter pilot radioed his intent to return to St. John’s.File:CHC S-92.jpg

The lone survivor, Robert Decker, was taken to a local hospital in critical condition. He was rescued by a helicopter which arrived 45 minutes after take off.

Of the eighteen people on board one other body was found and taken to St. John’s, Newfoundland and Labrador. The cause of the crash is under investigation, but Canadian prime minister Stephen Harper called the incident a “tragic accident”. Julie Leroux of the Transportation Safety Board said that mechanical problems were reported on the helicopter, but further investigation was needed.

Earlier reports stated that two people and a life raft were seen in the waters 87 kilometers (54 miles) southeast of St. John’s. There were reports of a second life raft as well. Rescuers soon discovered that the life rafts were empty.

For those wearing survival suits, the survival time would be approximately 24 hours. Wave heights at the time of the crash were six to nine feet (two to three meters), with freezing water temperatures. As a result, emergency rooms at St. John’s hospital were prepared for survivors suffering from hypothermia reported Deborah Collins of the Eastern Health Board.

On board were workers heading to two offshore oilfields, mainly the Sea Rose platform, a part of the White Rose offshore oilfield 315 kilometers (196 miles) southeast of St. John’s. Two people on board were staff of Cougar Helicopters, and two passengers traveling to the Hibernia platform.

Two Cormorant rescue helicopters and one military Hercules plane flew into high winds during the rescue effort. The search and rescue team was supplemented by a coast guard ship and supply ship. There were reports that two other helicopters were dispatched as well.

Monday, June 30, 2008

Vastly different from the YODEX, mainly focused on students’ designs, the 2008 2nd Taiwan Designers’ Week, a collective show organized by Taiwan Designers’ Web for industrial designs and individual design studios, took place at the Xinyi Public Assembly Hall, formally known as “Si-Si Nan Cun (in Chinese: ????)” and entitled the theme of “Design & Beyond”.

This professional exhibition featured topical designs including “Play with the Eating Culture”, “Wall”, “The Story of Paper-Cutting”, “Basket”, “Between On and Off”, “50 Pleasures in the Study – Dian Shin Refreshment 2008”, “Reincarnation”, and “NoName Design”, at Xinyi Public Assembly Hall; “City Yeast 2008?Balcony Project” at Xue Xue Institute from June 26th to July 8th; “Having A Perfect Life Is Easy” at Taipei Artist Village from June 27th to July 7th. In addition, The XRANGE Studio also created a giant floating cloud at Central Square of Xinyi Public Assembly Hall.

Innovative designs in this exhibition showcased different topical elements on environment, modern lifestyle, current incident, and subculture. Those reflect the achievements by professional designers in Taiwan as Taiwan’s designs were affirmed in several international design competitions including G-mark, Red Dot, and iF.

After this exhibition, Taiwan Design Center, the show co-organizer, scheduled several upcoming competitions and shows from this August to October including “Taiwan Design Expo”, “Taiwan Design Award”, “Taiwan International Design Competition”, and “Creative Taiwan”.

Friday, March 20, 2009

The owner of a New Jersey real estate investment firm has been charged with using $2 million of his company’s money for construction at his home and other projects not related to work.

Gary Klein, owner of the Asbury Park-based REI Group Inc., surrendered himself to police after a Monmouth County grand jury indicted him on one count of theft by deception charges.

The charges were the result of a three-year investigation into his practices. Klein, 45, of Colts Neck Township, faces up to 10 years in state prison if convicted. Klein was released Friday after posting $75,000 bail.

Klein attracted clients by telling them he would invest their money in projects that would result in returns of 12 and 85 percent. Prosecutors said the actions mirrored those of a Ponzi scheme.

Robert Weir, Klein’s attorney, said the operation was not a Ponzi scheme, but legitimate business investments that went bad as the economy declined. Weir also said Klein hired a receiver to try and return the investors’ money once the investments started to go sour.

“It’s a shame that a business that experienced a turn in the real estate market is now being treated as a criminal problem. That was not Mr. Klein’s intent,” Weir said to The Star-Ledger.

Weir said the investments were used for building rehabilitation projects in Asbury Park and the construction of Florida condominium complexes, but authorities said Klein used the money to repay earlier investors who were cashing out, as well to help build his own home.

Saturday, November 10, 2007

The U.S Consumer Product Safety Commission has recalled more products over the last few days, though not all because of excessive lead.

While American toy companies have been rocked in the last few months by numerous unsafe Chinese-made products, mostly due to excessive amounts of lead in paint, a few of the latest recalls were actually due to design flaws.

Also recently recalled are sunglasses and toy cars from the Dollar General chain of price-point retailers.

Monday, December 31, 2007

The electoral commission of Pakistan held a meeting today to decide whether the general election of the country will go ahead as planned next week on Saturday January 8, 2008. A firm decision is expected on Tuesday; however, according to CNN, Election Commission Secretary Kanwar Dilashad told The Associated Press that a recommendation has been made to the Government to delay the election. It has not been stated how long this electoral delay will be, as no new projected date for the election has yet been proposed.

Violent civil unrest has occurred across Pakistan following the assassination of Pakistan People’s Party (PPP) leader Benazir Bhutto; although this is now drawing to a close, its impact threatens to jeopardize the general election, combined with the aftermath of the state of emergency only recently lifted by President Pervez Musharraf.

Prior to her death Bhutto had accused Musharraf of attempting to rig the balloting and had called for a boycott. However, leaders of the PPP and other parties sympathizing with Bhutto’s view have now indicated that they will not boycott the election when it is held. It was announced yesterday that nominal control of the PPP will be held by Bilawal Bhutto Zardari, Mrs. Bhutto’s son; however his father, Asif Ali Zardari, has declared an intention to handle party affairs on behalf of his son, on the grounds that he is still “of a tender age” at 19 years old. Mr. Zardari has stated that the PPP will contest the poll.

Thursday, November 16, 2006

Buffalo, New York —A proposed hotel that was supposed to be built at the corner of Elmwood and Forest Avenues in Buffalo, New York is apparently off the table. The former proposal was going to be called The Elmwood Village Hotel and would have consisted of 72 rooms and cost between $7 to $10 million American dollars to build.

Today several unknown individuals were seen removing a sign that was dedicated to the “Elmwood Village Gateway,” which signifies the beginning of the Elmwood Village at the formerly proposed project’s location.

Nearly an hour later the men replaced the sign with a different and unexpected sign: “For Sale: 5 commercial parcels and 1 carriage house, By: Owner.” Those 5 “parcels” are 1109-1121 Elmwood and 999 Forest Avenue, which is located in an illegal alley, according to the City of Buffalo, behind the 5 other properties on Elmwood. Hans Mobius owns all properties named in the sale.

Sam Savarino, CEO of Savarino Companies never owned the properties and has repeatadly told Wikinews in exclusive interviews that he still had a “contract to buy the properties” and on October 2, 2006 told Wikinews in an exclusive interview that he “extended” the “agreement to purchase the property[s] and will have it under contract for what we hope is a sufficient period of time.”

“He [Mobius] is undoubtedly concerned because he has lost some tenants and is a bit impatient. I think he has properly portrayed the situation,” said Savarino in an exclusive interview with Wikinews.

Savarino also says that there may be “legal issues” to work out now, before anything else can move forward, regarding the proposal.

“There are some legal complexities that must be sorted out before anything can happen there,” added Savarino.

The welcome sign was; however, not removed entirely. The sign was placed, facing the same direction of north, on the side of the Forest Plaza Art Gallery, a new art gallery located on the corner of Forest and Elmwood.

Nancy Pollina, owner of Don Apparel which was located at 1109 Elmwood, but closed on October 14, 2006 considers this a possible “victory” in regards to the lawsuit filed against the hotel to stop it from being built, alleging that several laws were broken, including not performing an Environmental Impact Study before the proposal was approved by the city, during its approval and the proposal was “rushed.” Patricia Morris, who operates Don Apparel with Pollina, Angeline Genovese and Evelyn Bencinich, owners of residences on Granger Place which abut the rear of the proposed site, Nina Freudenheim, a resident of nearby Penhurst Park, and Sandra Girage, the owner of a two-family residence on Forest Avenue less than a hundred feet from the proposed hotel’s sole entrance and exit driveway, were also plaintiffs in the lawsuit. They filed the suit with a lawyer representing them, Arthur J. Giacalone, on April 25, 2006 in New York State Supreme Court, but the case has never gone to a courtroom.

Giacalone believes that a press release issued in July regarding the project was nothing but a statement to “save face,” but that the placement of the for sale sign might be a way of convincing Savarino to speed up the sale of the properties.

“I thought all along that Savarino’s July press release might be no more than an effort to save face. But we have no way of knowing. Similarly, Mobius might have put the for-sale sign up in an attempt to pressure Savarino into closing the deal. There’s no way to tell,” said Giacalone in an exclusive interview with Wikinews.

In regards to the lawsuit, Giacalone thinks it may now be in “limbo.”

“The lawsuit still sits in limbo,” added Giacalone.

Friday, March 23, 2007

In a press release earlier today, New York State Agriculture Commissioner Patrick Hooker, along with Dean of Cornell University’s College of Veterinary Medicine Donald F. Smith, confirmed that scientists at the New York State Food Laboratory identified Aminopterin as a toxin present in cat food samples from Menu Foods.

Menu Foods is the manufacturer of several brands of cat and dog food subject to a March 16, 2007 recall.

Aminopterin is a drug used in chemotherapy for its immunosuppressive properties and, in some areas outside the US, as a rat poison. Earlier reports stated that wheat gluten was a factor being investigated, and officials now state that the toxin would have come from Chinese wheat used in the pet food, where it is used for pest control. Investigators will not say that this is the only contaminant found in the recalled food, but knowing the identity of the toxin should assist veterinarians treating affected animals.

The Food Laboratory tested samples of cat food received from a toxicologist at the New York State Animal Health Diagnostic Center at Cornell University. The samples were found to contain the rodenticide at levels of at least 40 parts per million.

Commissioner Hooker stated, “We are pleased that the expertise of our New York State Food Laboratory was able to contribute to identifying the agent that caused numerous illnesses and deaths in dogs and cats across the nation.”

The press release suggests Aminopterin, a derivative of folic acid, can cause cancer and birth defects in humans and can cause kidney damage in dogs and cats. Aminopterin is not permitted for use in the United States.

The New York State Food Laboratory is part of the Federal Food Emergency Response Network (FERN) and as such, is capable of running a number of unique poison/toxin tests on food, including the test that identified Aminopterin.