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Saturday, September 20, 2008

The parliament of Indonesia has approved government plans to make an Initial Public Offering (IPO) of shares in three major state-owned firms, privatising them. They are steelmaker Krakatau Steel, Bank Tabungan Negara (BTN) and national flag carrier Garuda Indonesia.

The parliament has left the process fully in the hands of the government, and has set the maximum stake to be sold at 30% for BTN and Krakatau, and 40% for Garuda. Although Indonesia has been known to fund budget deficits with privatisation, the intention is for the funds from this scheme to go to the businesses themselves to allow expansion.

Krakatau expects 3.2 trillion Rupiah (IDR) from the sale, while the estimated price for their stock is between IDR3 and IDR4 trillion (321 – 428 million USD). Both ArcelorMittal SA, the biggest steelmaker in the world, and BlueScope Steel Ltd, the largest in Australia, have expressed an interest in the IPO. Krakatau will use the funds to help finance an expansion scheme which aims to have production doubled to five million tonnes in 2011.

BTN, which focuses on home owner loans, has set itself a target income of IDR36.12 trillion (3.86 billion USD) in 2010 compared to a projected IDR22.9 trillion ( 2.45 billion USD) this year. Net profit for this year is projected at IDR472 billion (50.5 million USD)and is hoped to rise to IDR1.39 trillion (148.7 million USD) in 2010. The bank’s loan to deposit ratio is predicted to rise from 105.05% this year to 144.93% in 2012. BTN hopes to conduct its IPO before the end of 2008.

Garuda is not quite 100% state-owned to start with, unlike the other two, but is very close with 95.44% of the company belonging to the government. Like all of Indonesia’s 51 airlines, Garuda is on the list of air carriers banned in the EU due to safety concerns raised after a string of air accidents in the nation. Garuda expects to raise IDR4.2 trillion (449.4 million USD) in funds from the IPO, and will use IDR2.5 trillion (267.5 million USD) to pay off its debts and invest IDR1.7 trillion (181.9 million USD) in new aircraft.

The government is still working to get a deal to make IPOs for architectural firm Yodya Karya and three plantation firms called Perkebunan Nusantara III, IV and VII.

Tuesday, March 29, 2005A team of Australian surgeons yesterday reattached both hands and one foot to 10-year-old Perth boy, Terry Vo, after a brick wall which collapsed during a game of basketball fell on him, severing the limbs. The wall gave way while Terry performed a slam-dunk, during a game at a friend’s birthday party.

The boy was today awake and smiling, still in some pain but in good spirits and expected to make a full recovery, according to plastic surgeon, Mr Robert Love.

“What we have is parts that are very much alive so the reattached limbs are certainly pink, well perfused and are indeed moving,” Mr Love told reporters today.

“The fact that he is moving his fingers, and of course when he wakes up he will move both fingers and toes, is not a surprise,” Mr Love had said yesterday.

“The question is more the sensory return that he will get in the hand itself and the fine movements he will have in the fingers and the toes, and that will come with time, hopefully. We will assess that over the next 18 months to two years.

“I’m sure that he’ll enjoy a game of basketball in the future.”

The weight and force of the collapse, and the sharp brick edges, resulted in the three limbs being cut through about 7cm above the wrists and ankle.

Terry’s father Tan said of his only child, the injuries were terrible, “I was scared to look at him, a horrible thing.”

The hands and foot were placed in an ice-filled Esky and rushed to hospital with the boy, where three teams of medical experts were assembled, and he was given a blood transfusion after experiencing massive blood loss. Eight hours of complex micro-surgery on Saturday night were followed by a further two hours of skin grafts yesterday.

“What he will lose because it was such a large zone of traumatised skin and muscle and so on, he will lose some of the skin so he’ll certainly require lots of further surgery regardless of whether the skin survives,” said Mr Love said today.

The boy was kept unconscious under anaesthetic between the two procedures. In an interview yesterday, Mr Love explained why:

“He could have actually been woken up the next day. Because we were intending to take him back to theatre for a second look, to look at the traumatised skin flaps, to close more of his wounds and to do split skin grafting, it was felt the best thing to do would be to keep him stable and to keep him anaesthetised.”

Professor Wayne Morrison, director of the respected Bernard O’Brien Institute of Microsurgery and head of plastic and hand surgery at Melbourne’s St Vincent’s Hospital, said he believed the operation to be a world first.

Monday, November 6, 2006

The German version of the encyclopedia Wikipedia, has been used in an attempt to spread a “malicious code” which would unleash a virus on to personal computers worldwide.

The page titled: “W32.Blaster” (link in German) was edited in a way where a link was placed in the article directing users to a site where an alleged fix for the Lovesan/MS Blaster worm, but the fix turned out to be false and the file was considered “malicious.” Computers that were target would receive e-mails from what appeared to be the Wikipedia.org website telling them to download the fix and including a link to it.

“The good news is that the authorities at Wikipedia quickly identified and edited the article on their site,” said senior technology consultant at Sophos anti-virus, Graham Cluley.

Although the edit has since been reverted or removed, until recently the edit remained in an archived version of the page; eventually, the archived version was also removed.

“A version of the page remained in the archive, allowing the hackers to send out spam and continue to direct visitors to the malicious code,” added Cluley.

It is not known how many computers have been affected by the worm, if any at all. It is also not known when the edit was made and how long it was active on the site before it was deleted. However it appears that it was deleted on October 31, as the page was partially deleted on that day twice, according to log files (english translation courtesy of google translate).

Tuesday, May 29, 2007

A 13-year-old boy was killed and ten people were injured in an accidental shooting incident in the Brazilian town of Rondonopolis.

The police were staging a mock hijack as a training exercise with real people in a bus as an audience on Saturday. They fired their guns at cardboard cutouts of criminals in the exercise. However, they used live ammunition in their guns, and the shots went straight through the cutouts and the glass windows of the bus.

Luis Henrique Dias Bulhoes, 13, was killed by a single shot to the head received from one of three 12-gauge shotguns that were amongst the weaponry the 16 police were using. Among the 600 people attending the exercise, six children and three adults were also injured.

Police admitted to the blunder on Monday. They believe bullets from more than one gun reached the audience. Seven of the 16 policeman are temporarily dismissed from their positions pending investigations.

Sunday, October 7, 2007

Shona Bracken is running for the Communist Party in the Ontario provincial election in Toronto—Danforth. Wikinews interviewed her regarding her values, her experience, and her campaign.

Saturday, June 2, 2007

The U.S. Department of Justice (DOJ) has reported that four arrests have been made in a foiled plot to blow up jet-fuel supply tanks and pipeline at John F. Kennedy International Airport (JFK), in New York City. The DOJ suggested the plot was interrupted in the early planning stages through cooperative law enforcement work in the United States and abroad.

The four arrested were identified by the DOJ in a press release Saturday as Russell Defreitas, a U.S. citizen and native of Guyana, Abdul Kadir, a citizen of Guyana and past member of the Guyanese Parliament, Kareem Ibrahim, a citizen of Trinidad, and Abdel Nur, also a citizen of Guyana.

Defreitas, a former employee of JFK was arrested in Brooklyn, New York. Kadir and Ibrahim were arrested in Trinidad. It was not made clear where Nur was arrested, however the DOJ indicated that the U.S. will initiate extradition proceedings for the three.

The DOJ alleged that the four began the planning in January, 2006 through to the present. It was revealed that law enforcement officials believed the targets included buildings, fuel tanks, and fuel pipelines at JFK, which were to be destroyed with explosives. The primary pipeline target was the Buckeye Pipeline, which distributes fuel to depots as far away as Pennsylvania. It also serves New Jersey and various boroughs of New York.

It was alleged by the DOJ that the plotters “tapped into an international network of Muslim extremists from the United States, Guyana, and Trinidad, and utilized the knowledge, expertise, and contacts of the conspirators to develop and plan the plot, and obtain operational support and capability to carry it out.”

Defreitas traveled from Guyana to JFK to allegedly conduct surveillance of the airport on four occasions in January 2007. According to the DOJ press release, the four plotters “obtained satellite photographs of JFK airport and its facilities from the Internet and traveled frequently between the United States, Guyana, and Trinidad to discuss their plans and solicit the financial and technical assistance of others.”

U.S. attorney for the Eastern District of New York Roslynn Mauskopf described the scenario as “one of the most chilling plots imaginable.” She went on to say at a news conference in New York that “the devastation that would be caused …is just unthinkable.”

Tuesday, October 14, 2008

The San Diego, California suburb of Chula Vista has responded to the recent housing crisis with an aggressive blight control ordinance that compels lenders to maintain the appearance of vacant homes. As foreclosures increase both locally and throughout the United States, the one year old ordinance has become a model for other cities overwhelmed by the problem of abandoned homes that decay into neighborhood eyesores.

Chula Vista city code enforcement manager Doug Leeper told the San Diego Union Tribune that over 300 jurisdictions have contacted his office during the past year with inquiries about the city’s tough local ordinance. Coral Springs, Florida, and California towns Stockton, Santee, Riverside County, and Murietta have all modeled recently enacted anti-blight measures after Chula Vista’s. On Wednesday, 8 October, the Escondido City Council also voted to tighten local measures making lenders more accountable for maintenance of empty homes.

Under the Chula Vista ordinance lenders become legally responsible for upkeep as soon as a notice of mortgage default gets filed on a vacant dwelling, before actual ownership of the dwelling returns to the lender. Leeper regards that as “the cutting-edge part of our ordinance”. Chula Vista also requires prompt registration of vacant homes and applies stiff fines as high as US$1000 per day for failure to maintain a property. Since foreclosed properties are subject to frequent resale between mortgage brokers, city officials enforce the fines by sending notices to every name on title documents and placing a lien on the property, which prevents further resale until outstanding fines have been paid. In the year since the ordinance went into effect the city has applied $850,000 in fines and penalties, of which it has collected $200,000 to date. The city has collected an additional $77,000 in registration fees on vacant homes.

Jolie Houston, an attorney in San Jose, believes “Lenders will respond when it costs them less to maintain the property than to ignore local agency requirements.” Traditionally, local governments have resorted to addressing blight problems on abandoned properties with public funds, mowing overgrown lawns and performing other vital functions, then seeking repayment afterward. Chula Vista has moved that responsibility to an upfront obligation upon lenders.

As one of the fastest growing cities in the United States during recent years, Chula Vista saw 22.6% growth between 2000 and 2006, which brought the city’s population from 173,556 in the 2000 census to an estimated 212,756, according to the U.S. Census Bureau. Chula Vista placed among the nation’s 20 fastest growing cities in 2004. A large proportion of local homes were purchased during the recent housing boom using creative financing options that purchasers did not understand were beyond their means. Average home prices in San Diego County declined by 25% in the last year, which is the steepest drop on record. Many homeowners in the region currently owe more than their homes are worth and confront rising balloon payment mortgages that they had expected to afford by refinancing new equity that either vanished or never materialized. In August 2008, Chula Vista’s eastern 91913 zip code had the highest home mortgage default rate in the county with 154 filings and 94 foreclosures, an increase of 154% over one year previously. Regionally, the county saw 1,979 foreclosures in August.

Professionals from the real estate and mortgage industries object to Chula Vista’s response to the crisis for the additional burdens it places on their struggling finances. Said San Diego real estate agent Marc Carpenter, “that kind of measure will add additional costs to banks that have been hit really hard already and ultimately the cost will be transferred down to consumers and investors.” Yet city councils in many communities have been under pressure to do something about increasing numbers of vacant properties. Concentrations of abandoned and neglected homes can attract vandals who hasten the decline of struggling neighborhoods. Jolie Houston explained that city officials “can’t fix the lending problem, but they can try to prevent neighborhoods from becoming blighted.”

CEO Robert Klein of Safeguard, a property management firm, told the Union Tribune that his industry is having difficulty adapting to the rapidly changing local ordinances. “Every day we discover a new ordinance coming out of somewhere”, he complained. Dustin Hobbs, a spokesman from the California Association of Mortgage Bankers agreed that uneven local ordinances are likely to increase the costs of lending. Hobbs advised that local legislation is unnecessary due to California State Senate Bill 1137, which was recently approved to address blight. Yet according to Houston, the statewide measure falls short because it fails to address upkeep needs during the months between the time when foreclosure begins and when the lender takes title.

Thursday, June 21, 2007

US aircraft manufacturer Adam Aircraft have received US$105 million in funding for two aircraft that they currently produce, namely the Adam A500 and the Adam A700 AdamJet. Both are carbon-bodied six-seat civil utility aircraft. The A500 is piston-engined and has a Push-pull configuration and the A700 is of a new variety of aircraft known as very light jets (VLJs).

A significant proportion of the money came from a senior secured credit facility from Morgan Stanley Senior Funding Inc. Adam Aircraft say that the money will be used to accelerate the production of the A500 and to move the A700 through the certification process with the Federal Aviation Administration (FAA).

Founder and CEO of Adam Aircraft Rick Adam said that investors were given confidence by the company’s order backlog, currently valued at around $800 million. Earlier this month, China’s Hainan Zhong Hang Tai General Aviation Airlines expressed their confidence in the uncertified A700 when they announced that they had placed an order for 50 of the new aircraft. They say that they chose the A700 because it had the largest cabin space of any VLJ, with company CEO Jason Fan adding that he thought the “innovative twin-tail design remind(s) people of a Formula 1 race car.” It is an expensive purchase, as the Chinese government charges a 21% import tax on new aircraft.

Rick Adam said of the new funds “this financing allows Adam Aircraft to aggressively pursue our product development and production growth plans,”.

Adam Aircraft say that the A700 is presently undergoing flight tests and development processes. The company hopes to certify it with the FAA in 2008.

Sunday, December 13, 2015

Macomb, New York Councilman Steve Burke took some time to speak with Wikinews about his campaign for the U.S. Democratic Party’s 2016 presidential nomination.

Burke, an insurance adjuster and farmer, was elected councilman in Brookhaven, New York in 1979. He left the town after being accused and found not guilty of bribery in the 1980s. Since 1987 he has served as Macomb councilman off-and-on and currently holds the post. From 1993 to 1996 and 1999 to 2002 he worked as chairman of the Democratic Party of St. Lawrence County, New York. Among his many political campaigns, Burke unsuccessfully sought the Democratic Party’s presidential nomination in 1992 and recently attempted to run for U.S. Congress in 2014 but too many of his ballot petition signatures were found invalid. Burke filed with the Federal Election Commission to run for president in the 2016 election on September 18, 2015 and has qualified for the first-in-the-nation New Hampshire Primary.

With Wikinews reporter William S. Saturn?, Burke discusses his political background, his 2016 presidential campaign, and his policy proposals.

Friday, January 9, 2009

An Israeli rocket has struck the Press TV building in the Gaza Strip. According to the news agency, other television news stations called Al-Alam and Al Arabiya are also based inside the building. At least two people have been injured. The attack occurred at about 15:40 GMT.

There was no warning prior to the attack and only journalists were inside the building when the rocket hit. Press TV states that some of their broadcasting equipment on the building’s roof was damaged in the blast. According to live video being broadcast by Press TV, journalists on the roof are marked with ‘TV’ or ‘press’ on their coats and helmets. Press TV uses the roof of their building to broadcast most of their live video feeds of Gaza.

The agency claims that they were given assurance by the Israeli military that the building would not be targeted. The agency also states that coordinates of the building were given to the Israeli military everyday so they would not attack the building or mistake news crews for Hamas militants.

Despite the claim by witnesses and Press TV employees, a spokesperson for the IDF states that the building was not a target and was likely a result of “collateral damage.” There are no reports of other buildings having been hit in the area around the Press TV building.

Press TV states that regardless of the attack, they are still “prepared to show the horrific attacks by the IDF (Israeli Defense Force) with graphic images of children being killed”.

Press TV, an Iranian based news agency, is one of few international news agencies broadcasting live video feeds of Gaza and currently has more journalists in Gaza than any other world news agency.