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Thursday, January 7, 2010

With this year’s November midterm elections fast approaching, three prominent United States Democrats announced their plans for retirement from public service on Wednesday.

Powerful and influential—yet controversial for his alleged close ties to the financial sector and his handling of last year’s bailout—Senator Christopher Dodd of Connecticut announced that he would not be seeking a sixth term this year.

In a speech to his supporters in East Haddam, Connecticut, the sixty-five-year-old senior senator—with his family at his side—said, “I have been a Connecticut senator for thirty years. I’m very proud of the job I’ve done and the results delivered. But none of us is irreplaceable. None of us is indispensable.”

He then went on to say, “Over the past twelve months, I’ve managed four major pieces of legislation through the United States Congress, served as chair and acting chair of two major Senate committees, placing me at the center of the two most important issues of our time—health care and reform of financial services.”

In addition to highlighting some personal travails, Dodd alluded to his precarious political situation, “I lost a beloved sister in July, and in August, Ted Kennedy. I battled cancer over the summer, and in the midst of all of this, found myself in the toughest political shape of my career.”

Despite this, Dodd adamantly maintained that none of the above reasons were the causes for his retirement. He said that his reasons were more “personal,” and that his retirement would hopefully give him a much-wanted opportunity to spend more time with his family.

Senator Byron Dorgan of North Dakota announced that he would not run for re-election this year either.

“Although I still have a passion for public service and enjoy my work in the Senate, I have other interests and I have other things I would like to pursue outside of public life,” said the sixty-seven-year-old, three-term senator who said he came to this decision after discussing his future with his immediate family over Christmas.

Governor of Colorado, Bill Ritter announced that he too would not seek a second term. The fifty-three-year-old freshman governor said that although he felt his race was “absolutely winnable,” after some deep “soul searching,” he realized that he truly wanted to retire from politics nonetheless. This due to the fact that he felt his main priority should be to be a better husband to his wife as well as a better father to their four children.

When asked to comment on Senator Dodd’s retirement on behalf of the Administration, Vice President Joseph Biden said Dodd would “be long recognized as one of the most significant senators of my generation.”

He furthermore stated, “I believe the nation will miss his wisdom, wit and compassion. I count myself lucky because I know he’s not going too far and will always be a source of advice and counsel.”

Biden gave similar comments and expressed like sentiments about the retirement of his other two Democratic colleagues as well.

Sunday, August 20, 2006

Track Star Marion Jones, winner of 3 gold medals in the 2000 Sydney Olympics, has tested positive for the performance enhancing drug, EPO. The hormone helps create extra red blood cells which allows the user’s body to absorb extra oxygen.

Jones was expected to compete in yesterday’s Golden League meet in Zurich, Switzerland, but left early in the morning for “personal reasons.” It was announced earlier today (UTC) that she had tested positive for EPO. Jones faces a two year ban if her B test sample comes back positive.

Jones has a history of association with steroid users and dealers. In 1999, her then husband CJ Hunter tested positive for a similar drug, Nandralone. He had to withdraw from the 2000 Sydney Olympics, and received a two year ban.

Jones later divorced him, and in 2002 started a relationship with another track star, Tim Montgomery, who were both coached by Trevor Grahm.

Montgomery set a record in the 100 meter sprint of 9.78 seconds at a race in Paris that year. He was banned for two years and stripped of his record due to evidence in the Federal BALCO investigation. In the BALCO investigation, several witnesses stated that Marion Jones was taking banned substances received from BALCO.

Jones’ coach, Grahm, has been involved with 10 other athletes that tested positive and were ultimately banned for the use of illegal substances. Justin Gatlin, also coached by Grahm, also tested positive for artificial Testosterone, but has not been banned or stripped of his record.

Another American athlete, cyclist Floyd Landis tested positive for excessive levels of adrenaline after winning the Tour-de-France, which may lead to him being the first winner in the tournament’s history to be stripped of the title.

Friday, January 9, 2009

Global chemical manufacturer LyondellBasell — the third-largest private chemical company in the world — has collapsed. The firm filed for Chapter 11 bankruptcy protection in the United States, as well as the Dutch equivalent. They had failed to meet a January 4 deadline on postponed debt payments, and talks with creditors failed.

Headquartered in The Netherlands, LyondellBasell is owned by private equity tycoon Len Blavatnik, who had already refused the company a loan to help deal with debt resulting from a $12.7 billion merger between Basell International Holdings and Lyondell Chemical to create LyondellBasell Industries.

The company had already appointed Kevin McShea from Alix Partners to restructure the firm. McShea was assigned speculatively prior to the bankruptcy filing. Access Industries, Blavatnik’s company, refused to extend credit as part of a loan deal brokered in March, a decision Lyondell Chemicals Company, a subsidiary of LyondellBasell, stated they were unhappy with.

LyondellBasell had postponed $280 million worth of interest payments, which Standard & Poor said placed it in “selective default” with a “rapidly weakening liquidity position”. S&P also said that LyondellBasell have debts of $26 billion in a report on the company prior to the firm’s collapse.

LyondellBasell responded with a press release, issuing the following statement: “Standard & Poor’s definition of ‘selected default’ related to our corporate credit rating should not be misinterpreted to suggest that LyondellBasell is currently in default of its bank agreements. As they stated in their press release, ‘This is a default in our opinion according to our definitions and criteria.’ LyondellBasell is not currently in default according to its agreements with its lenders.”

The company met with high oil prices shortly after the expensive merger. This was followed by a general tail-off in demand caused by the ongoing financial crisis. Investors were continuing to bet before the collapse that the firm would restructure under bankruptcy protection, leaving lenders with big losses, potentially over 90% of their investments. The cost of credit protection for LyondellBasell bonds had soared. The creditors include Merrill Lynch, Goldman Sachs, Citigroup, ABN Amro and UBS.

On Thursday, an interim allowance was made by a judge for LyondellBasell to seek up to $2.167 billion of loans. There is also an emergency loan paid out of $100 million. As well as LyondellBasell, 79 affiliates have become insolvent. Citigroup has said the collapse will set them back $1.4 billion in unpaid debts.

Sunday, December 26, 2004

Indian Ocean – The death toll continues to grow and millions face a homeless life in the new year as coastal communities in south Asia struggle against continued aftershocks and flooding caused by the largest earthquake to strike the planet in more than a generation.

The magnitude 9.0 undersea megathrust earthquake struck off the western coast of Sumatra, Indonesia on December 26, 2004, at 00:58:50 UTC (or 07:58:50 local time in Jakarta and Bangkok).

The earthquake was the strongest in the world since the 9.2-magnitude Good Friday Earthquake which struck Alaska, USA in 1964, and the fourth largest since 1900. More than 140,000 deaths[1] were caused by resulting tsunami, which in Thailand were up to 10 meters (33 feet) tall, and struck within three hours of the initial event.

Multiple tsunamis struck and ravaged coastal regions all over the Indian Ocean, devastating regions including the Indonesian province of Aceh, the coast of Sri Lanka, coastal areas of the Indian state of Tamil Nadu, the resort island of Phuket, Thailand, and even as far away as Somalia, 4,100 km (2,500 mi) west of the epicenter.

While the earthquake and the tsunamis are no longer ongoing (other than aftershocks), the humanitarian and economic crisis generated by the disaster is still ongoing. This report will attempt to cover the crisis as it continues to develop.

Sunday, March 22, 2009

Elizabeth Mitchell, who plays Juliet Burke on the popular series Lost, has been cast in the ABC pilot for V, its remake of the classic science fiction television miniseries, according to an Entertainment Weekly report.

Although ABC and Warner Bros. officials told the magazine she was only cast as a guest star, the announcement led to speculation and concern that the casting could mean Mitchell’s character will be bumped off at the end of Lost‘s fifth season.

EW reports at least two characters will be killed during this season, which ends in May 2009.

During a January interview with New York magazine, Mitchell said of the Shakespearean roots in her name, ” I’m certain it’s not random because they’re never random. It does seem to me that she’s pretty much destined for tragedy, whichever way she goes, no matter how hard she tries to fight against it.”

Juliet, who was introduced in show’s third season, was one of the “Others” who were on the island before the main characters’ plane crashed there. She is currently involved in a love-quadrnagle with characters Sawyer, Jack and Kate.

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Friday, October 9, 2009

Macedonian President Gjorge Ivanov voiced expectations on Tuesday that the process of resolving the country’s long-standing name dispute with Greece will receive a new impetus, given the new government in Athens. He said that a compromise is possible, if the process continues under the auspices of UN resolutions and talks focus only on the name, and not on the Macedonian identity and language.

Ivanov added that any compromise shouldn’t “be offensive” to either Macedonia or Greece.

“A compromise is possible if the process is under the auspices of the UN resolution and only the name [of Macedonia] is discussed,” said Ivanov, as quoted by the MIA news agency. “A solution which is not insulting either for Macedonia or for Greece is a compromise.”

Greece and the Republic of Macedonia have been at odds over who has the right to the name of Macedonia — which is shared by a province in northern Greece — since 1991, when Macedonia declared independence from Yugoslavia.

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