Monday, June 1, 2009

United States automobile manufacturing firm General Motors filed for bankruptcy and Chapter 11 protection from its creditors at 12:00 UTC Monday, in a Manhattan, New York federal bankruptcy court. This was the largest bankruptcy filing for a U.S. manufacturing company, and with declared assets of $82.29 billion and a debt of $172.81 billion, and the fourth largest bankruptcy filing in recent U.S. history — after the bankruptcies of Lehman Brothers ($691.06 billion), Washington Mutual ($327.91 billion), and WorldCom ($103.91 billion).

The filing, expected to be the first of many, was for a New York GM affiliate, Chevrolet-Saturn of Harlem Incorporated. Numbered 09-50026, it named GM as a debtor in possession, and was filed before judge Robert Gerber.

GM is to be represented throughout the filing process by Weil Gotshal & Manges, a New York law firm specializing in bankruptcy.

The chief restructuring officer, named in the filing, is to be Al Koch, a managing director at AlixPartners LLP in New York, who will report directly to Fritz Henderson, the Chief Executive Officer of General Motors.

In its bankruptcy petition, GM listed its primary creditors as:

The amount owed to UAW excludes “approximately $9.4 billion corresponding to the GM Internal VEBA“. USD22,760 millions are owed to bondholders.

Analysts have observed that the effect of the bankruptcy filing on the U.S. economy is not expected to be as major as it once would have been. One such voice, Mark Zandy, an economist at Moody’s Economy.com, commented that “Bankruptcy now is irrelevant in terms of the economic consequence of what’s happening to GM.” Such analysts believe that the economic impact of GM’s problems has already been felt, with its effects on parts suppliers and employment. They also believe that GM’s programme of accelerated payments, and its participation in a U.S. Treasury program to ensure prompt payments to parts manufacturers, will have cushioned the effect of the bankruptcy itself.

Speaking on Bloomberg Radio, David Cole, chairman of the Center for Automotive Research in Ann Arbor, stated that the fragility of the parts suppliers, the loss of whom would threaten the entire automobile manufacturing industry, was of more immediate concern than the GM bankruptcy.

Also filing for chapter 11 protection today were Saturn LLC and Saturn Distribution Corporation, subsidiary companies of General Motors.

As a consequence of the bankruptcy, General Motors Corporation (GM.N) was removed from the Dow Jones Industrial Average, and was replaced by Cisco Systems (CSCO.O), these changes scheduled by Dow Jones & Company to take effect from the opening of trading on June 8.

Monday, March 12, 2007

Microsoft’s officials admitted that the company’s Windows Live OneCare security suite has been accidentally deleting e-mails of those users that worked with Outlook and Outlook Express.

Microsoft’s OneCare forum included postings that stated the cause of message deletion. Thus the issue occurred thanks to an antivirus application that finds e-mails containing viruses. The problem with the software was that the antivirus, instead of deleting or quarantining the hazardous e-mail, deleted all messages from the personal folder.

The forum, however, gave hope in a post saying that some messages might be recovered but only in case they were quarantined. Thus users are able to find those e-mails in OneCare’s quarantine facility.

The administrator of the forum, Stephen Boots, outlined that he was very unhappy with the issue which, he said, appeared over a year ago and the company thought it fixed the problem with the release of 1.5 version. Boots said that the beta version of the program worked fine but when the final version was launched the problem occurred once again.

According to the statement, reported by the spokesperson of the software giant, Microsoft is now working to fix the problem and release an updated version of OneCare on March 13.

OneCare was criticized after it failed to pass an independent test of security products that provided a certain certification. In addition to this the program did not provide enough protection for Windows Vista users.

Thursday, October 1, 2009

A tsunami that was generated in the South Pacific by a powerful undersea earthquake has killed at least 110 people, according to authorities.

The majority of the fatalities occurred in Samoa, where rescue workers say at least 84 people were killed. Another 24 people are confirmed dead on American Samoa, while at least seven fatalities have been reported in nearby Tonga.

The US Geological Survey says an 8.0 magnitude earthquake struck early Tuesday local time. It generated waves that devastated coastal areas, knocked down buildings and sent cars floating out to sea.

Strong aftershocks followed the initial earthquake, with at least one measuring a magnitude 5.6. Tsunami alerts were issued for the entire South Pacific region but were later canceled. Survivors fled to high ground and stayed there for hours.

Several villages were destroyed on the southern Samoan coast of Upolu, which is also home to many tourist resorts.

During a flight on from Auckland, New Zealand to Apia, Samoa, Samoan Prime Minister Tuilaepa Sailele Malielegaoi told reporters he was shocked by the disaster. “So much has gone. So many people are gone. I’m so shocked, so saddened by all the loss.”

“The situation is very bad,” said Marie-Francoise Borel, a spokesperson for the International Red Cross, to the CTV News Channel by telephone. “This massive wave has swept across – it’s destroyed villages, it’s destroyed homes, people are in shock.”

The assistant chief executive of Samoa’s disaster management predicted that the death toll in the country could surpass one hundred, saying that searches for bodies in the region are still ongoing.

“They are still continuing the searches for any missing bodies in the area. Some areas have been flattened and the tsunami had brought a lot of sand onshore, so there have been reports the sand has covered some of the bodies. So we need specialised machines to search for bodies that are buried under the sand,” he said.

The communications head for the International Federation of the Red Cross, Jason Smith, told the Al Jazeera news agency that the Red Cross “[…] is working hard through five evacuation centres to provide people with safe places to stay and access to clean water,” estimating that up to 15,000 people in sixty villages were affected by the tsunami.

At the capital of American Samoa, Pago Pago, the tsunami measured 1.57 meters in height. The superintendent of the National Park of American Samoa Mike Reynolds reported four waves as high as six meters. People who experienced the quake said it was long, lasting from 90 seconds to three minutes.

Pago Pago city streets were strewn with overturned vehicles, cars, and debris. Some buildings located only slightly above sea level were completely destroyed by the waves, and power in some locations is not expected to be restored for up to a month. FEMA administrator Craig Fugate said that “we’re focused on bringing in the assistance for people that have been injured, and for the immediate needs of the tens of thousands of survivors down there.”

“The first federal team members are currently en route to American Samoa aboard a Coast Guard plane and will be providing on the ground assessments once they arrive on the island,” Fugate said. “FEMA, who has provisions pre-positioned in a distribution center in Hawaii, is also preparing to send supplies as needed to help meet the immediate needs of the survivors.”

Didi Afuafi, 28, who was riding on a bus in American Samoa when the tsunami struck, described her experiences. “I was scared. I was shocked. All the people on the bus were screaming, crying and trying to call their homes. We couldn’t get on cell phones. The phones just died on us. It was just crazy,” she said. “This is going to be talked about for generations.”

US President Barack Obama declared a major disaster in American Samoa, and has sent federal aid to support local recovery efforts in the US territory.

“My deepest sympathies are with the families who lost loved ones and many people who have been affected by the earthquake and the tsunami,” Obama said. He had earlier pledged in a written statement to give a “swift and aggressive” government response to the disaster.

“I am closely monitoring these tragic events, and have declared a major disaster for American Samoa, which will provide the tools necessary for a full, swift and aggressive response,” Obama said.

During a Wednesday appearance near Washington, D.C., the president said the US was ready to help its “friends” in neighboring Samoa and throughout the region.

In Tonga, seven people were confirmed dead and another three missing, after waves struck Niuatoputapu, a northern island. Acting prime minister Lord Tuita said in a statement that “according to information gathered from Niuatoputapu so far, seven people are confirmed dead, three missing and four with very serious injuries,” Lord Tuita, the acting prime minister, said in a statement. “It is reported that the tsunami did serious damage to the village of Hihifo, which is like the capital of the island.

“The hospital on the island is reported to have suffered major damage; telephone communication has been cut as a result of damage to equipment and facilities on the island; homes and government buildings have been destroyed,” he said.

An airplane was reportedly chartered by Tongan authorities to determine the amount of damage done to Niuatoputapu, but wasn’t able to land.

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, June 5, 2007 File:Swan Hill3.jpg

Eleven people have been killed, and more than 20 injured, when a V/Line passenger train and a semi trailer collided at a level crossing on the Murray Valley Highway in northern Victoria, Australia. At least 13 more are still missing and are believed to be trapped in the wreckage.

The collision, which occurred at 1:40 p.m. local time, was approximately 10 km north of the town of Kerang, on the Swan Hill railway line.

The train involved in the accident was a service from Swan Hill, which departed at 1:00 p.m. from Swan Hill railway station, and was destined for Melbourne. The train was comprised of a locomotive and three carriages.

Witness reports say that the semi-trailer collided into the second of the three carriages, and then detached the third carriage from the remainder of the train and causing it to derail. The whole side of the second carriage was ripped open from the direct impact of the semi-trailer.

The injured have been transferred from the scene to hospitals in the area, including Kerang and Mildura, by ambulance. Helicopters and light aircraft have been used to transfer patients to Melbourne, as local hospitals struggle with the sudden influx of patients. The driver of the semi-trailer has been moved to the hospital in Mildura in “critical condition”, according to police at the scene.

The train had 39 people on board the 1:00 p.m. service, according to train documents. This included three staff employed by the train operator V/Line, who have all been accounted for and are not injured. Of the 36 passengers on the train, it has been reported that 23 have suffered injuries.

Reports say six people were airlifted to Melbourne for treatment, however one has since died. The remaining 17 have been moved to regional hospitals, including the temporary relief centre in Kerang, according to a Rural Ambulance Service spokesperson.

Although there are still 13 people unaccounted for, police say it is possible that some had bought tickets and were therefore listed on the train manifest, but did not end up catching the service.

Premier of Victoria Steve Bracks is expected to fly to the crash scene this evening. He has ordered a full investigation into the incident. Federal Minister for Transport Mark Vaile has offered Federal government assistance from the Australian Transport Safety Bureau to help with the investigation. The Prime Minister John Howard has offered the Victorian government any additional aid that is requires in the aftermath of this incident.

Tuesday, September 6, 2005

The Sony PlayStation Portable went on sale in the UK on Thursday, September 1. In the three days following the release, more than 185,000 PlayStation Portables were sold. This sets a new sales record on game consoles. The record was previously held by Nintendo, who sold 87,000 Nintendo DS handhelds the first three days after its release. The PlayStation Portable is being sold for £179 in the UK.

Twenty of the 24 games launched with PlayStation Portable are in the top 40. PlayStation Portable games also occupy nine of the top 10 slots on the sales charts. The game Ridge Racer was the most popular, with one in every five people buying both the PlayStation Portable and Ridge Racer at the same time.

Sony’s main competitors in the handheld gaming console market are Nintendo with the Nintendo DS and Nokia with the nGage. Like Nintendo and Nokia, Sony is marketing the device as being able to do more then just play games. The PlayStation Portable can play specially created versions of poular movies and surf the Internet wirelessly. Sony expects to sell a million PlayStation Portables in the UK before Christmas.

Saturday, August 29, 2015

Four foreign men have today gone before a court in Hungary on suspicion of people smuggling. Their detention relates to Thursday’s discovery of a lorry full of corpses in Austria. The death toll was yesterday finalised at 71.

The lorry had been abandoned since Wednesday on the hard shoulder of the “Eastern Motorway”, near the Hungarian border. Roadworkers became suspicious of dark liquid seeping from the vehicle, and responding police found the bodies. Initial police estimates were that 20–50 were suffocated in the back of the lorry which was near Parndorf.

The arrested men are thought to include the vehicle’s owner and at least two drivers. Three are Bulgarian and one is from Afghanistan. Criminal suspects in Hungary can generally be held for 72 hours before charge but prosecutors, citing the seriousness of the case, want the period extended. Extradition to Austria is possible.

Of the 71 dead, 59 are men, eight are women, and four are children. The children are thought to be aged three, eight, and ten years, alongside an eighteen-month-old baby. “There was also a Syrian travel document found” police spokesman Hans Peter Doskozil told journalists “so of course our first assumption is that these people were migrants, and likely a group of Syrian migrants. We can rule out that they were Africans”.

The four accused were escorted into court in Kecskemet, central Hungary, by a police convoy. Reportedly the lorry traveled from Kecskemet. Hungary is presently building a border fence across the Serbian frontier, as migrants from war-torn Syria and other regions seek access to the Schengen Area of free movement, which covers most of the EU.

Slovak chicken meat company Hyza, a previous owner, previously told Wikinews the lorry has changed hands several times in roughly the last year. After they sold it they say it was exported to Hungary; it now bears Hungarian plates but still features Hyza branding including pictures of meat.

On the day of the discovery Hyza quickly removed a graphic from their homepage featuring cartoon chicken stowaways in a car being inspected at a customs post. The stowaways also appeared with a line through them alongside the word “imigranti” and the site www.imigranti.sk in one corner. On the other side was Hyza’s logo. Imigranti.sk is also unavailable.

Police today found 26 migrants in a lorry near Braunau am Inn, Austria. The driver, from Romania, refused to stop for police and was arrested following a chase. Police said three children were hospitalised for “severe dehydration”. Found near the German border, the migrants were from Afghanistan, Syria, and Bangladesh.