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Friday, March 30, 2007

Dell Inc., a global leader in computer hardware manufacturing and sales, announced yesterday that it will delay filing of its annual performance report, the Form 10-K, required for compliance with U.S. Securities and Exchange Commission (SEC) and Nasdaq listing rules.

In a press release, Dell explained that an audit committee of the company’s board of directors is carrying out an investigation into accounting and financial reporting issues. The company stated that it would delay filing of the 10-K since the investigation had not been completed.

The internal investigation has found evidence of accounting errors, misconduct, and deficiencies in areas of financial control.

The chairman of Dell’s audit committee, Thomas Luce III, indicated that the delay in filing would extend past the April 3, 2007 deadline as well as an April 18, 2007 extension date. “As we move toward the conclusion of our investigation, we are committing the time and resources required to ensure a thorough and comprehensive review and resolution of all identified issues and the implementation of appropriate remedial measures,” said Luce.

The investigation is to determine whether the restatement of any financial disclosures are warranted, based on the accounting errors identified. The probe will also assess whether there are deficiencies in Dell’s internal control over financial reporting.

Sunday, October 5, 2008

It has recently been made public that on September 27, seventeen year old Shaun Dykes jumped off a multistory building following encouragement from the crowd. According to the BBC’s Today programme, a variety of different people, including youths and middle aged citizens, were telling the teenager to jump.

Alasdair Kay, director of the Derby City Mission, saw the incident unfold. He expressed his shock and disgust at the incident. “People were filming… we could hear people shouting ‘[J]ump, you,'” she said. “They weren’t all just young people, some were middle-aged. To be honest with you I was sickened.”

Derbyshire’s Chief Constable Mick Creedon, also yesterday commented on the indent. “The tragic death of Shaun Dykes at Derby on 27th September has attracted much comment and media speculation,” he started. “The pain that Shaun’s family and friends are suffering must be unimaginable and they have my deepest sympathy.”

“The primary responsibility of the police is the protection of life, and the Derbyshire Constabulary will always have this responsibility at the forefront of our response to such tragic events as Shaun’s death last Saturday,” he continued. “We have very well trained and experienced staff, well practiced in dealing with such incidents and I have no doubt that the officers involved in talking to Shaun on Saturday did their best with the situation they were presented with.”

“The fact that they were unsuccessful in negotiating Shaun to safety will have been very painful for them, particularly for the two officers who spent two hours talking directly to him. They have my sincere thanks for their efforts as, I’m sure, they have the thanks of the vast majority of those reading this.”

Shaun Dykes, had been raised in a single parent family in a village near Derbyshire and he recently returned from a business course to study to become an accountant or a pilot.

Before his death, he was working part time in a local pub. Craig Doxey, his best friend, described Dykes. “He was always smiling and laughing about stuff. I think if it wasn’t for the crowd, Shaun would have got down and got some help from all his mates, work colleagues and the police.”

He went to Heanor Gate Science College, and he was openly gay. According to one of his friends from that school, Rebkha Minkley, “he always came in, in the morning with a smile on his face.”

According to the Today program, Dykes is believed to have left a suicide note before jumping off the building.

Monday, December 18, 2006

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The minimum wage in New Zealand will be increased by 9.8% on 1 April, 2007, the biggest increase in New Zealand for seven years.

The announcement was made today by Labour minister, Ruth Dyson, and will make the current minimum wage for workers over 18-years NZ$11.25 per hour, an increase $1.00 from the current wage of $10.25. Youth workers and youth workers being trained aged 16-years and 17-years will see an increase of $0.80 to $9.00, remaining at 80% of the adult minimum wage.

Ms Dyson said: “The boost in the minimum wage will ensure that lower paid workers share the benefits of economic growth, encourage people to join the workforce and provide protection for some of New Zealand’s most vulnerable workers.”

The Green Party of Aotearoa New Zealand has welcomed the announcement. Sue Bradford, spokesperson for the Greens’ Industrial Relations, said: “There is no better time than during a strong economy for New Zealand to boost the current poverty level minimum wages.”

Ms Bradford said: “The rise announced today is not overly generous. When cost of living adjustments are taken into account, the $12 an hour minimum wage level called for by the Greens during the 2005 election campaign, has now moved to just over $13 per hour. If one applied the European Union social standard – which sets the minimum wage at two thirds of the average wage – we would be setting New Zealand’s minimum wage at $13.66.”

However HealthCare Providers New Zealand is criticising the wage increases as currently the difference in minimum wage and the average caregiver wage rate is 10% ($10.25 and $11.33 respectively). Martin Taylor, chief executive officer, said: “If more funding is not made available then the government is agreeing to caregiving becoming a minimum wage occupation.”

Mr Taylor said: “We believe caregiving is an important job that deserves better wages, but you cannot pay out more than you are funded for. This sector is depended on government funding and we have already been waiting 9 months for DHBs to agree to our funding claim for the last minimum wage increase.”

The government believes that the change will benefit 110,000 adults of which the majority are woman, and 9,200 youth workers.

“With four months till the changes come into effect, businesses will have time to prepare. The date of 1 April was chosen to reduce compliance costs for businesses as it will coincide with the implementation date of four weeks’ annual holidays,” Ms Dyson said.

The government wishes that by the end of 2008 they will be able to increase the minimum wage of adults to at least $12.00 per hour, however the government will be keeping a close eye on the economy.

Wednesday, August 19, 2009

Following a period of steady intensification, Hurricane Bill is now a Category 4 major hurricane, as defined by the Saffir-Simpson Hurricane Scale.

Bill formed on August 12 and became the 2009 season’s first hurricane on August 17. For the past few days, the storm has been moving toward the west-northwest, but that is expected to change later this week as it turns more toward the north. After that, its track is uncertain, though National Hurricane Center (NHC) forecasters believe the hurricane will pass between Bermuda and the United States.

As of 11 a.m. AST August 19 (0900 UTC August 19), Hurricane Bill was located within 15 nautical miles of 18.0°N 54.9°W, about 460 mi (740 km) east of the Leeward Islands. Maximum sustained winds were near 115 knots (135 mph, 215 km/h), with stronger gusts. Forecasters estimate the storm’s minimum barometric pressure at 950 millibars.

Bermuda could be under the most significant threat from Bill, and officials there have been monitoring the storm’s progress. Derrick Binns, Permanent Secretary of the Ministry of Labour, Home Affairs and Housing, reported that “We have been following the storm closely since its inception, and today we reviewed our planning and procedures to ensure all are in sync. While we have not as yet issued hurricane warnings, I think it is important to advise residents to check their emergency kits to be sure supplies are adequate.”

Bill is expected to spare the United States from any significant impact, but forecasters advise that since the storm is still several days away, nothing is certain. Indeed, residents of Long Island, New York are keeping a close eye on the cyclone’s progress.

Forecasters also warn that Bill could target parts of eastern Canada. Residents of Nova Scotia, mindful of the extensive damage from Hurricane Juan several years prior, are beginning to take precautionary measures.

Regardless of its exact track, Bill will likely generate rough surf and dangerous rip tides along the coast of the U.S. and Canada.

Tropical cyclones are known to be unpredictable, so interests in the regions potentially in Bill’s path are urged to track the storm’s progress over coming days and review emergency plans.

Wednesday, February 20, 2008

Dutch financial institution ING Group reported today in its quarterly results an impairment charge of €194 million euros (approximately US$285.6 million). However, as a result of selling an equity stake in rival ABN AMRO, the net profit of €2.48 billion, was 18% higher than last year.

The impairment charge is a result of risky investments, including RBMS (mortgage) investments backed by subprime loans and Alt-A loans, which are made to borrowers with a slightly better credit profile than those in the subprime category, as well as from collateral debt obligations (CDOs).

CEO Michel Tilmant said that “solid risk management” shields ING from the worst effects of the financial crisis. “ING’s exposure to the riskiest assets is limited, and the RMBS investments we selected have a high level of structural credit protection to absorb significant losses as the U.S. housing crisis deepens,” added Tilmant.

Saturday, November 25, 2006

With the hopes of funding the creation of a statue in northern India that would end up dwarfing the Statue of Liberty, an unprecedented collection of Buddhist artifacts continue crisscrossing American, Europe, and Asia in three different, but related collections.

The Maitreya Project, the brainchild of Lama Zopa Rinpoche, seeks to build a monument and development dedicated to Buddhism at Kushinagar, Uttar Pradesh in northern India. The centerpiece of this massive development will be a 152m (500 ft) bronze statue of the Maitreya Buddha, the Buddha of the future.

Buddhist belief says that there have been Buddhas in the distant past and there will be Buddhas in the distant future. The historical Buddha, the one who was born in India about 2500 years ago, is known as Shakyamuni Buddha. Buddhist belief says that sometime in the distant future the teachings that Shakyamuni Buddha brought to Earth will fade away. At that point the Maitreya Buddha will be born and gain enlightenment in order to refresh and renew Buddhist teachings.

Along with the statue, the development is also planned to include temples, exhibition halls, parks, a museum, library, and a theater as well as a hospital and educational center.

In order to move forward with this project the Maitreya Project has created collections of artifacts that are touring the world. Once the statue is built these artifacts will be housed in it for viewing.

Buddhist artifacts are usually associated with the body of the person involved. While they can be such things as bone and teeth, usually they are pearl-like objects that are found and collected after the enlightened person is creamated. These pearl-like objects are called ringsel.

There are three collections of artifacts currently touring American, Europe, and East Asia. They include relics from the immediate past Buddha, called Kasyapa, the historical Buddha, five of his original disciples, several Tibetan and Zen masters, and the 14th Dalai Lama, Tenzin Gyatso.

Wikinews reporter Richard Kinne spent three days with the relics when the North American tour came to Ithaca, NY a few weeks ago. The relics travel with two caretakers, one of whom is always in close proximity to the relics. Setup for the relics display can take about four hours depending on the venue. Taking it down takes a bit under two hours.

Each morning of the tour the relics are taken out of their padded case and placed in clear plexiglass display cases. The relics are displayed individually in small containers called stupas. Some containers appear very full, while others contian just one very small object. Each evening the process is reversed and the padded case stays with the relic caretakers.

Between the morning and the evening people from all walks of life come to see the relics – believers, people who are curious, academics, Buddhist monks and nuns, both older folks and small children. While the Heart Relic Tour just does deals with displaying the relics, the sponsoring venue can add to the display in various ways such as lectures, meditation classes and demonstrations, or various other rituals.

The tour in North America reaches Jacksonville, FL during the first weekend of December. From there it will go to Miami between the 9th to the 11th, and then to Phoenix, AZ between the 15th to the 17th. In Asia the tour spends time in Malaysia in the first part of December.

Wednesday, March 9, 2005File:Plastic bag stock sized.jpg

They are cheap, useful, and very plentiful, and that is exactly the problem, according to researchers. A report issued on Feb. 23 by a cadre of environment and economics researchers suggested that Kenya should ban the common plastic bag that one gets at the checkout counter of grocery stores, and place a levy on other plastic bags, all to combat the country’s environmental problems stemming from the bags’ popularity.