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Thursday, March 15, 2018

This morning, United States-based toy retail giant Toys “R” Us filed for liquidation with United States bankruptcy court. The company had about 735 stores in the country which may be closed as a result of the liquidation.

The motion came after the US holidays, after which the company said its revenue fell short of expectations. Toys “R” Us was seeking cooperation with its Canadian business to leave 200 stores open, the court papers said. The company said it would be unable to realize an earlier goal to leave as many as 400 stores open.

The papers filed in the court indicated that the United States holiday sales produced revenue US$250 million short of the expectations. In the report to the court, Toys “R” Us blamed in part its weakened e-commerce business. It wrote, “The stark reality is that the debtors are projected to run out of cash in the U.S. in May 2018.”

Toys “R” Us chief executive officer Dave Brandon said, “This is a profoundly sad day for us as well as the millions of kids and families who we have served for the past 70 years.”

Toys “R” Us said it was preparing to sell its businesses in Asia and Central Europe, including Germany, Austria, and Switzerland.

In September 2017, Toys “R” Us filed for bankruptcy in the US and Canada, and a judge allowed a US$2 billion loan.

Kohlberg Kravis Roberts, Bain Capital Partners, and Vornado Realty Trust purchased Toys “R” Us for US$6.6 billion in 2005. According to CNBC, the company had US$4.9 billion in debt at that time, which made it difficult for the company to adapt to the changing market.

Monday, August 18, 2014

Yesterday the Peshmerga, military of the autonomous region of Kurdistan in Iraq, gained control of parts of the Mosul Dam, as part of their advance against insurgents of the Islamic State. International opposition to the Islamic militant group has grown this week.

The Peshmerga were supported this weekend by US airstrikes in their attempt to push back the Sunni insurgents, and Kurdish officials reported “good progress” in the face of “fierce resistance”. Reuters reported eyewitness accounts of Kurdish forces successfully retaking Batmaiya and Telasqaf, mostly Christian towns as close to Mosul — about 18 miles (30 km) — as they have come since June when government forces were forced out.

Mosul Dam, Iraq’s largest hydroelectric dam, is vital to the region’s irrigation, as well as water and power supplies. It was seized by the insurgents of the Islamic State, also known as ISIS or ISIL, on August 7, as part of their advance across Northern Iraq.

The advance of the Islamic State has prompted responses from many parts of the international community. On Friday the UN Security Council unanimously adopted a resolution targeting the extremist group’s finances and leaders. Six individuals were named and now face travel bans, asset freezes, and arms embargoes. The resolution also warned of the possibility of other sanctions against anyone found to be trading with the Islamic State, in a move aimed at stopping their supply of weapons and economic gain from sale of oil being produced by the oil fields under their control.

On the same day as the Security Council’s resolution, foreign ministers of the European Union’s member states issued a joint statement welcoming the efforts of those European states supporting Kurdish forces. This support includes the supply of military supplies from France, and humanitarian aid from the UK, with Eastern European countries providing military materials also being transported by the UK. Germany and the Netherlands were also reportedly considering the possibility of supplying aid where needed.

The US began launching airstrikes on August 8, and have continued to do so in support of the Kurdish forces and civilians stranded on Mount Sinjar.

The responses from the international community follow reports of brutality against religious minorities in Northern Iraq — such as Yazidis and Christians — accompanying the Islamic State advance across the region.

Rudaw reported from within Kurdistan that the local political parties have put aside their differences and are recruiting volunteers to send to the front. Many of these parties can trace their beginnings back to the 1960s–1990s struggle against the Iraqi army, many of whom continue to maintain militias which are now being deployed to reinforce the Kurdish army in the region. These are reported to have been joined by groups of ethnic Kurds from Iran.

Reports say hundreds of Yazidi volunteers are also being trained inside Kurdistan to help fight the Islamic State’s advance.

Sunday, November 6, 2016

The following is the sixth and final edition of a monthly series chronicling the U.S. 2016 presidential election. It features original material compiled throughout the previous month after an overview of the month’s biggest stories.

In this month’s edition on the campaign trail: the Free & Equal Foundation holds a presidential debate with three little-known candidates; three additional candidates give their final pleas to voters; and past Wikinews interviewees provide their electoral predictions ahead of the November 8 election.

Monday, October 1, 2007

Jim Reeves is running for the Green Party of Ontario in the Ontario provincial election, in the York-Simcoe riding. Wikinews’ Nick Moreau interviewed him regarding his values, his experience, and his campaign.

Stay tuned for further interviews; every candidate from every party is eligible, and will be contacted. Expect interviews from Liberals, Progressive Conservatives, New Democratic Party members, Ontario Greens, as well as members from the Family Coalition, Freedom, Communist, Libertarian, and Confederation of Regions parties, as well as independents.

Tuesday, January 19, 2010

A Scottish woman who set out before Christmas to purchase a turkey finally made it home on Monday, after being cut off by snow for a month. Kay Ure left the Lighthouse Keeper’s cottage on Cape Wrath, at the very northwest tip of Great Britain, in December. She was heading to Inverness on a shopping trip.

However on her return journey heavy snow and ice prevented her husband, John, from travelling the last 11 miles to pick her up. She was forced to wait a month in a friend’s caravan, before the weather improved and the couple could finally be reunited.

They were separated not just for Christmas and New Year, but also for Mr Ure’s 58th birthday. With no fresh supplies, he was reduced to celebrating with a tin of baked beans. He also ran out of coal, and had to feed the couple’s six springer spaniels on emergency army rations.

“It’s the first time we’ve been separated”, said Mr Ure in December. “We’ve been snowed in here for three weeks before, so we are well used to it and it’s quite nice to get a bit of peace and quiet.”

Saturday, August 14, 2010

Ali Akbar Salehi, chief of Iran’s Atomic Energy Agency, announced Friday that Iran is scheduled to launch its first nuclear power plant in Bushehr. Russia said that it will start loading fuel into the reactor on August 21, 2010.

Russia has assisted Iran in the construction of this reactor since the mid-1990s. The proposal to build this reactor was put forth 35 years ago by Mohammad Rez? Sh?h Pahlavi, the former emperor of Iran.

Dmitry Anatolyevich Medvedev, the current president of Russia, said that Iran and Russia are in active trade partnership. Medvedev called on Iran last month to explain its nuclear program.

The official launch is scheduled for August 21, 2010. Russia has promised to run the plant by supplying fuel and taking away fuel waste.

Sunday, January 27, 2008

Viktor Schreckengost, the father of industrial design and creator of the Jazz Bowl, an iconic piece of Jazz Age art designed for Eleanor Roosevelt during his association with Cowan Pottery died yesterday. He was 101.

Schreckengost was born on June 26, 1906 in Sebring, Ohio, United States.

Schreckengost’s peers included the far more famous designers Raymond Loewy and Norman Bel Geddes.

In 2000, the Cleveland Museum of Art curated the first ever retrospective of Schreckengost’s work. Stunning in scope, the exhibition included sculpture, pottery, dinnerware, drawings, and paintings.

Thursday, June 19, 2008

Buffalo, New York —Judge Justice Christopher Burns of the New York State Supreme Court has ordered a halt to an emergency demolition on a 19th century stable and livery on 428-430 Jersey Street in Buffalo, New York that partially collapsed on Wednesday June 11, initially causing at least 15 homes to be evacuated. At least two homes remain evacuated.

Burns orders that both the city and the group Save The Livery (www.savethelivery.com) have to come to an agreement on what to do with the building, and try to work out ways of saving at least some portions if it including the facade, side walls and a lift tower. Save The Livery is comprised of concerned area residents who have grown to love the building’s historic and unique character. On June 14, they won a temporary restraining order to stop demolition. The court ruled that the city was only allowed to remove material in immediate danger to residents and pedestrians, but stated that the demolition could only be performed with “hand tools.” The court also ordered that any rubble which had fallen into neighboring yards when the building collapsed, to be removed.

“It is in the interest of the city to have a safe environment–but also important to maintain a sense of historical preservation,” stated Burns in his ruling. Burns has given the sides until tomorrow (Friday June 20) to come to an agreement and has ordered both parties to return to court at 9:30 a.m. (eastern time) “sharp.” Activists of Save The Livery urge supporters of the stable to “fill the courtroom” to show “continued and ongoing support.” The hearing is scheduled to take place at 25 Delaware Avenue in the Supreme Court building, 3rd Floor, trial part 19.

Currently the building is owned by Bob Freudenheim who has several building violations against him because of the buildings poor condition. He has received at least five violations in three months and residents who live near the building state that Freudenheim should be “100% responsible” for his actions. Many are afraid that if the building is demolished, Freudenheim’s charges of neglect will be abolished.

On June 17, developer and CEO of Savarino Companies, Sam Savarino was at the site of the stable, discussing the building with residents and preservationists. In 2006, Savarino proposed and planned The Elmwood Village Hotel, a ‘botique’ hotel on the Southeast corner of Elmwood and Forest Avenues. The project was later withdrawn after residents filed a lawsuit against Savarino and the city. Wikinews extensively covered the story, and contacted Savarino for his professional opinion on the building.

“[I would] love to see it preserved. I was there to see if there was anything we could do to help, to see if anything can be salvaged. I just want to see the right thing happen, and so does the city,” stated Savarino to Wikinews who added that he was allowed inside the building for a brief period.

“The side walls are beyond repair. The roof has rotted and it could come down at any time,” added Savarino who also said that the building “below the second floor appears to be stable.” He also states that the back wall of the building, which borders several homes, appears to be intact.

“Eliminating the back wall could be a problem for the neighbors. It is not unreasonable to leave at least 12 feet” of the back wall standing, added Savarino.

Savarino did not say if he was interested in buying the property, but did state, “I am sure there are a couple of people interested” in buying the property. On Thursday, Buffalo News reported that a “businessman” might be interested in purchasing the property, though Wikinews is not able to independently confirm the report. Savarino says that with the property still slated for emergency demolition, a potential buyer could face tax fees of nearly US$300,000.

Freudenheim gave the city permission to demolish the building on Thursday June 12 during an emergency Preservation Board meeting, because he would not be “rehabilitating the building anytime soon.” Freudenheim, along with his wife Nina, were part-owners of the Hotel Lenox at 140 North Street in Buffalo and were advocates to stop the Elmwood Village Hotel. They also financially supported a lawsuit in an attempt to stop the hotel from being built. Though it is not known exactly how long Freudenheim has owned the stable, Wikinews has learned that he was the owner while fighting to stop the hotel from being built. Residents say that he has been the owner for at least 22 years.

The building was first owned by a company called White Bros. and was used as a stable for a farm which once covered the land around the building for several blocks. The Buffalo Fire Department believes the building was built around 1814, while the city property database states it was built in 1870. Servants and workers of the farm were housed inside resident quarters situated at the rear of the building on what is now Summer Street, but are now cottages where area residents currently reside. Some date as far back as 1829.

At about 1950, the stable was converted into an automobile body shop and gasoline station.A property record search showed that in 1950 at least four fuel storage tanks were installed on the property. Two are listed as 550 square feet while the other two are 2,000 square feet. All of the tanks are designated as a TK4, which New York State says is used for “below ground horizontal bulk fuel storage.” The cost of installing a tank of that nature according to the state, at that time, included the tank itself, “excavation and backfill,” but did not include “the piping, ballast, or hold-down slab orring.” It is not known if the tanks are still on the property, but residents are concerned the city was not taking the precautions to find out.

Monday, July 4, 2011

Officials announced that a treasure containing sacks of diamonds and gold coins as well as golden idols, jewelry and other riches has been discovered in the secret subterranean vaults of Sree Padmanabhaswamy temple, in the southwestern state of Kerala, India. Estimates of its worth have been rising and it is now thought to be worth US$20 billion.

The Hindu temple was built in the 16th century by the kings of the then Kingdom of Travancore to serve as a royal chapel for the rulers of Travancore. The six vaults containing the treasure have been undisturbed for over a century. Assessment of the treasure began on June 27 after a lawyer concerned about the security of the treasure petitioned India’s Supreme Court, which then appointed a seven-member panel of experts to inventory the treasure. The panel does not have the power to determine to whom the treasure will belong. Estimates of the treasure’s worth are rising, provoking a heated debate as to how the treasure will be used in a country that has 450 million poverty-stricken people.

The chief minister of Kerala, Oommen Chandy, announced on Sunday the treasure would remain with the temple, and security matters would be decided in consultation with the Travancore Royal Family, the temple management, and the temple priest.

“The gold was offered to the lord. It is the property of the temple. The government will protect the wealth at the temple,” Oommen Chandy said. Meanwhile, hundreds of armed police have been deployed around the temple to protect the treasure.

However, the view that the treasure should remain at the temple has been disputed. Among the dissenters is eminent jurist V R Krishna Iyer, who said the treasure should be put in a national trust for the peoples’ benefit. “God’s wealth belongs to the people, not to the king. It’s meaningless to say that it belongs to Hindus or any particular religious community,” said Iyer. “A mechanism should be devised to ensure that the benefits of it reach the poor and the needy and not the rich.”

Five of the six vaults of the Sree Padmanabhaswamy Temple have been inventoried.

On Saturday, reports leaked to the press revealed that the treasure, including a golden idol of Mahavishnu and a golden ‘anki’, were found in one of the vaults, estimated to weigh 30 kilograms, along with precious stones, silver, two coconut shells of pure gold and another golden idol as well as other jewels and valuable coins. The panel hopes to find more treasure when the sixth and final vault is opened, but the attempt was suspended on Monday because the iron door inside presented “technical problems” requiring further consultation before opening. This vault is thought to contain the bulk of the wealth.

Keralan officials in a preliminary estimate said that the treasure was worth over US$11.2 billion; those estimates have now risen to US$20 billion. Historians say that the temple’s location on a site through which passed lucrative trade routes support the higher evaluations.

“Traders, who used to come from other parts of the country and abroad for buying spices and other commodities, used to make handsome offerings to the deity for not only his blessings but also to please the then rulers,” said P.J. Cherian, the director of Kerala Council for Historic Research

Some suggest that the profit from the sale of the treasure would be enough to wipe out the entire public debt of Kerala and fund future Kerala projects such as seaports, airports and highways.