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Wednesday, May 16, 2007

The Thomson Corporation and Reuters Group PLC announced Tuesday that they have agreed to combine the two companies. The boards of both Thomson and Reuters will recommend the merger to their shareholders.

The Canadian Thomson-family holding company Woodbridge, which controls 70% of Thomson, has agreed to vote in favour of the deal and the Reuters Founders Share Company, which controls a special share in Reuters, will also support the merger.

Based on the TSX CA$46.36 closing share price of Thomson on May 14, 2007, each Reuters share would be valued at 691 pence and, therefore, the full capital of Reuters valued at approximately £8.7 billion. Cash requirements for the deal are to be provided by Thomson. Woodbridge will own approximately 53 percent of the combined company, other Thomson shareholders 23 percent and Reuters shareholders about 24 percent.

The merger arrangement will leave two separate companies that will be operated as a single entity. The boards of the two companies will be identical as will the senior executive management team. Thomson will be renamed to Thomson-Reuters Corporation, and will be listed on both the TSX and the NYSE. Thomson-Reuters PLC will list on the London Stock Exchange and the NYSE.

Reuters current CEO, Tom Glocer, will become CEO of the combined company while Thomson President and CEO Richard J. Harrington will retire at the completion of the merger.

Thomson has currently 32,000 employees worldwide, with operations in 37 countries and revenues of US$6.6 billion in 2006. Thomson’s major business operations centre around financial information and legal services, with smaller ventures in tax accounting, health care, and the scientific field. Thomson is headquartered in Stamford, Connecticut, in the United States.

Reuters is one of the world’s largest news agencies, with a total of 16,800 staff in all divisions, but derives more than 90 percent of its revenue from its financial service business. It is the merger of Thomson and Reuter’s financial services divisions that may have been the genesis of the talks. It has been suggested that both companies wanted a better economy of scale to compete with Bloomberg, the American financial services giant.

“We are enormously proud of the evolution of The Thomson Corporation and the value it has created for all our shareholders,” said David Thomson, Chairman of Thomson. “We recognize the rich history of Reuters and are committed to uphold the Reuters Trust Principles.”

The chairman of Reuters, Niall FitzGerald, expressed his satisfaction with the merger. “The shared expertise and complementary strengths of these two companies makes for a strategically compelling and financially attractive combination,” said FitzGerald in a joint press release. “I am especially proud that Reuters journalism will continue to be governed by the powerful Reuter Trust Principles of independence, integrity and freedom from bias.”

The new company is projecting efficiencies of greater than US$500 million per year, by the end of the third year after closing the deal.

Criticisms were raised by Reuters journalists, who voiced concerns in an open letter to the Reuters Founders Share Company. They worried whether or not “a reconstituted Reuters would maintain the high standards of journalism and the integrity, independence and freedom from bias that have shaped the company’s 156-year-old reputation.”

It is expected that the merger will draw the attention of regulators due to the size and nature of the transaction. “Antitrust authorities in Europe and the U.S. are almost certain to apply a more detailed and lengthy review of the acquisition than is typical, because of the limited number of companies that supply prices, data, news and financial tools,” said Simon Baker, analyst, Credit Suisse in London.

Friday, March 23, 2007

In a press release earlier today, New York State Agriculture Commissioner Patrick Hooker, along with Dean of Cornell University’s College of Veterinary Medicine Donald F. Smith, confirmed that scientists at the New York State Food Laboratory identified Aminopterin as a toxin present in cat food samples from Menu Foods.

Menu Foods is the manufacturer of several brands of cat and dog food subject to a March 16, 2007 recall.

Aminopterin is a drug used in chemotherapy for its immunosuppressive properties and, in some areas outside the US, as a rat poison. Earlier reports stated that wheat gluten was a factor being investigated, and officials now state that the toxin would have come from Chinese wheat used in the pet food, where it is used for pest control. Investigators will not say that this is the only contaminant found in the recalled food, but knowing the identity of the toxin should assist veterinarians treating affected animals.

The Food Laboratory tested samples of cat food received from a toxicologist at the New York State Animal Health Diagnostic Center at Cornell University. The samples were found to contain the rodenticide at levels of at least 40 parts per million.

Commissioner Hooker stated, ““We are pleased that the expertise of our New York State Food Laboratory was able to contribute to identifying the agent that caused numerous illnesses and deaths in dogs and cats across the nation.”

The press release suggests Aminopterin, a derivative of folic acid, can cause cancer and birth defects in humans and can cause kidney damage in dogs and cats. Aminopterin is not permitted for use in the United States.

The New York State Food Laboratory is part of the Federal Food Emergency Response Network (FERN) and as such, is capable of running a number of unique poison/toxin tests on food, including the test that identified Aminopterin.

June 28, 2005

The Democratic Party held a public committee, aired on C-SPAN 3, at which former civilian employees based in or administering operations in Iraq, testified to specific instances of waste, fraud, and other abuses and irregularities by Halliburton and its subsidiary Kellogg, Brown and Root (KBR).

Allegations of fraud by Halliburton, specifically with regard to its operations in Iraq, have persisted since before the Iraq War. The associations between U.S. Vice President Dick Cheney and Halliburton, have been the basis for repeated speculation over possible political improprieties and business profiteering from the war.

Among the senators and representatives present at the hearing were Byron Dorgan (presiding), Henry Waxman, Frank Lautenberg, and Mark Dayton.

Among those testifying were Bunny Greenhouse, former Chief Contracting Officer of the U.S. Army Corps of Engineers, Rory Mayberry, former Food Program Manager for Halliburton subsidiary, and Allan Waller, of the Lloyd-Owen International security and operations firm.

Greenhouse, who provided the bulk of testimony, spoke for several minutes about her involvement in the evaluation and crafting of government Army contracts, and how explaining how superiors undermined and dismissed her concerns of illegal business practices. “Ultimately my main concern was the repeated insistence that the Rio contract be awarded to KBR without competitive bidding,” Greenhouse said. She testified to have been given misinformation in answer to her complaints, and being “overtly misled” by KBR managers.

Mayberry, still in Iraq, testified by video from questions prepared by the committee. He said that KBR routinely sold expired food rations to the Army. The interviewer asked, “Are you saying that Halliburton deliberately falsified the number of meals they prepared and then submitted false claims for reimbursement and that they did this to make up for past amounts auditors had disallowed?” Mayberry firmly answered “Yes.” He said that serving expired food ration was “an everyday occurrence, sometimes every meal.” He explained that Halliburton systematically overcharged for the number of meals as well, saying, “they were charging for 20,000 meals and they were only serving 10,000 meals.” Dorgan later commented, “obviously there’s no honor here, by a company that would serve outdated food to our troops in Iraq.”

Mayberry also claimed would-be whistleblowers were threatened “to be sent to Falluja” and other “places under fire” if they talked to media or governmental oversight officials. In 2003 and 2004, Falluja had been well known as dangerous for foreign troops and civilians. “I personally was sent to Falluja for three weeks. The manager told me that I was being sent away until the auditors were gone, because I had talked to the auditors,” Mayberry said.

“The threat of being sent to a camp under fire was their way of keeping us quiet. The employees who talked to auditors were sent to camps under more fire than other camps, and Anaconda.” This report led Dorgan and others to voice considerable outrage that U.S. citizens would be personally threatened with harm for talking to oversight officials or media.

Allan Waller testified to specific examples of how KBR officials had conspired in blocking Lloyd-Owen fuel transports, and using other coercive means against its competitor. The British Lloyd-Owen has a direct contract with the Iraq government to provide fuel to various parts of the country.

In his introductory remarks, Dorgan explained that Senate Republicans had blocked or ignored any requests by Democrats to have a formal bipartisan hearing, resulting in the need for an independent committee.

Sunday, October 15, 2006

Muslim groups from across the world are criticising the organisers of the 2012 Olympics in London after it was revealed that the games will take place over Ramadan. The most holy month in the Muslim calendar, which will take place from the 21 July to 20 August in 2012, involves fasting during daylight hours and will affect an estimated 3,000 athletes.

Joanna Manning Cooper, spokesman for the games said: “We did know about it when we submitted our bid and we have always believed that we could find ways to accommodate it.” Nevertheless, this will come as a huge embarrassment for the organisers who have tried to ensure the event involve all of Britain’s ethnic communities. A quarter of the athletes who took part in the 2004 Athens Olympics were from predominantly Muslim countries and the fast will put any athletes involved at a clear disadvantage.

The chairman of the Islamic Human Rights Commission, Massoud Shadjared said: “This is going to disadvantage the athletes and alienate the Asian communities by saying they don’t matter. It’s not only going to affect the participants, it’s going to affect all the people who want to watch the games.”

The president of the National Olympic Committee of Turkey, Togay Bayalti, said: “This will be difficult for Muslim athletes. They don’t have to observe Ramadan if they are doing sport and travelling but they will have to decide whether it is important to them. “It would be nice for the friendship of the Games if they had chosen a different date.”

The games will run from the 27 July to 12 August to coincide with the British Summer holidays. The summer holidays are a six week period running from mid July to early September. During this time, public transportation is generally less crowded and it will be easier to find the 70,000 volunteers needed to keep the games running. The International Olympics Committee has specified that the games must take place between July 15 to August 31. Giselle Davies, IOC spokesperson said, “We give a window to the five bid cities. The host city selects the dates within that window.”

The organisers are working with the Muslim Council of Great Britain to find ways around the problem.

Sunday, July 8, 2007

In 1999, Bernard Weber started the New7Wonders foundation, and eight years, 200 candidates and 100 million votes later, seven man-made structures now have something in common – they all hold the title of ‘Wonder’. Weber claims he started the foundation to ensure that “everybody can decide what the new seven wonders should be and not some government, not some individuals, not some institutions.”

Nominated structures had to be built or discovered before the year 2000, and out of the 200 nominations, only twenty-one were left by the early part of last year. Voting had been taking place for six months, but only recently did voting result in server crashes, causing the foundation to encourage text message voting.

The results were announced at a ceremony hosted by Hilary Swank, Ben Kingsley and Bollywood star Bipasha Basu in Lisbon, Portugal. Out of the twenty-one, the following seven were announced as the new ‘Wonders of the World’:

• Great Wall of China, in northern China. It was created in the 5th century BC to protect the northern borders of the Chinese Empire. The Wall is the world’s longest human-made structure, stretching over 6,400 km (4,000 mi).
• Christ the Redeemer in Rio de Janeiro, Brazil. The giant statue of Jesus Christ is 38 m (105 ft) tall and weighs 700 tonnes. The statue is located at the peak of the 700 m (2296 ft) Corcovado mountain, overlooking the city of Rio.
• Machu Picchu, above the Urubamba Valley, Peru. It is a city created by the Inca Empire, located on a mountain ridge. Machu Picchu was forgotten for centuries by the outside world, however not by the locals. It was brought to international attention by archaeologist Hiram Bingham in 1911.
• Petra, in Jordan. It is famous for having many giant stone structures carved into the rock. The site was revealed to the Western world by the Swiss explorer Johann Ludwig Burckhardt in 1812, but remained accessible only to Europeans until after World War I.
• Chichen Itza, on the Yucatán Peninsula, Mexico. It is a large archaeological site originally built by the Maya civilization. Chichen Itza was a major regional center in the northern Maya lowlands. Archaeological data suggest that Chichen Itza’s collapse was violent.
• Taj Mahal, in Agra, India. It is a white marble mausoleum generally considered the finest example of Mughal architecture. Mughal Emperor Shah Jahan commissioned it for his favorite wife, Mumtaz Mahal, and it was constructed between 1632 and 1648.
• Colosseum, in Rome, Italy. It is a giant amphitheatre located in the centre of the city, and was capable of seating around 50,000 spectators. It was constructed between 70 AD and 80 AD, and used for nearly 500 years for a variety of events.

Although the foundation had large amounts of public support, UNESCO, the United Nations cultural program, distanced themselves from the project, saying it had “no link whatsoever” to the project. UNESCO currently keeps tabs on 851 places in its ‘World Heritage Sites‘ program.

Left out of the Seven are the Pyramids of Giza, to which a respected Egyptian antiquities expert replied that the pyramids are a “symbol of the genius of the ancient people.” The foundation announced that the pyramids would have “honorary status” with the seven. The pyramids were the only remaining of the original Seven Wonders.

Weber claims that now that the man-made wonders have been chosen he has a new task: choosing the seven natural wonders of the world. He says he will start his new project immediately.

Monday, June 7, 2010

An acrobatic group known by the name of Spelbound has been declared as the winner of Britain’s Got Talent 2010, a televised variety talent show competition broadcast on ITV in the United Kingdom. As the winning act of the show, Spelbound have won £100,000 (US$144,580, €120,313, A$175,079) and a place at The Royal Variety Performance, an annual gala evening that is attended by senior members of the British Royal Family.

In no particular order, the top three acts were revealed to be two dancers known by their stage name of Twist and Pulse, gymnastic group Spelbound and Kieran Gaffney, whose act involves playing on the drum kit. After Kieran Gaffney was revealed to be in third place, Anthony McPartlin, who hosts Britain’s Got Talent with Declan Donnelly, said to Kieran: “Well done Kieran. Kieran, you’re a star, you came back, you got all the way to the final. I know you’ve loved this. You’ve loved this, haven’t you?” In response to this, Kieran Gaffney stated: “Thank you very much. Thank you, everyone for supporting me. Thank you.”

Shortly afterwards, on the episode that was broadcast live on ITV1 on Saturday, Anthony announced: “After tens of thousands of auditons, five semi-finals and an amazing final, this…this is it. One of you is about to walk away with £100,000 and a place at this year’s Royal Variety Performance. The winner of Britain’s Got Talent 2010 is…Spelbound!” Glen Murphy from Twist and Pulse commented about finishing in second place, stating: “Yeah, it’s amazing. I can’t even believe it. I can’t believe it at all.”

Alex Uttley, a 24-year-old member of Spelbound, commented on the gymnastic group’s victory, commenting: “Oh, my god. This is unbelieveable. We just want to say thank you to everyone out there. It just shows that all our hard work has paid off.” One of the coaches of Spelbound, named Neil Griffiths, stated about Spelbound: “Oh, they’ve worked so hard over the last few weeks. Um, since the semi-final, we…we really had to pull out the stops to try and up the game. They’ve not known they’ve worked in the gym from six in the morning till twelve…twelve o’clock of the night. I couldn’t have asked for more. Um, it’s a team of coaches. I don’t take all the credit myself. There’s, uh, two people up there that know who they are who’ve been fantastic.”

Spelbound consists of 24-year-old Alex Uttley, Nicholas Illingworth, aged 24, Adam Buckingham, aged 21, 20-year-old Adam McAssey, 19-year-old Douglas Fordyce, 18-year-old Edward Upcott, 18-year-old Leighanne Cowler, 17-year-old Katie Axten, 17-year-old Lauren Kemp, 15-year-old Jonathan Stranks, Abigail Ralph, aged 15, 13-year-old Hollianne Wood and Amy Mackenzie, aged 12. Bookmakers had previously predicted that Spelbound would be the most likely act to become the winner of the series.

The running order for the final started with Twist and Pulse. The second act to perform was Liam McNally, a 14-year-old singer. The running order subsequently continued with 40-year-old impressionist Paul Burling, singer Christopher Stone, aged 28, Tina & Chandi, a woman and dog dancing act, Connected, a five-piece singing group, Kieran Gaffney, aged 12, 22-year-old Tobias Mead, a dancer, 80-year-old singer Janey Cutler and Spelbound in that particular order.

Earlier on in the final, Britain’s Got Talent judge Amanda Holden has stated to Spelbound: “We are hosting the 2012 Olympics and I think ‘what a brilliant opening act’.” Fellow judge Piers Morgan also commented that “[t]he purpose of this show is to identify hidden great British talent. You are that act.” After Spelbound won in the final, another judge, named Simon Cowell, stated that “the right boys and girls won on the night” and that he could “only say on live TV that that was one of the most astonishing things I have ever seen. Seriously.”

Wednesday, January 25, 2012

On the eve of Australia’s national day celebrations, Prime Minister Julia Gillard announced Geoffrey Rush’s receipt of this year’s Australian of the Year award. Presenting the accolade to Rush on the lawn of Parliament House, Gillard cited his “outstanding achievements in a lifelong career on the stage and screen and long term commitment to the Australian arts”; Rush is one of only a handful of actors with a claim to the ‘Triple crown of acting’, having won Tony, Emmy and Academy awards..

Marita Cheng, a 22 year old engineering advocate — and student at the University of Melbourne, is the new Young Australian of the Year. Chosen for her “leadership in the occupational landscape for women by encouraging girls to pursue engineering studies and careers”, Cheng founded Robogals Global in 2008 to address low participation by women in technologically-oriented fields.

Laurie Baymarrwangga, an elder from the island of Murrungga in East Arnhem Land, Northern Territory, is the new Senior Australian of the Year. Cited for her “extraordinary commitment to maintaining her culture, the environment of her beloved Crocodile Islands and ensuring younger generations continue to keep their heritage alive”, she initiated the Yan-nhangu dictionary project, and still continues to support the now-online project; aged in her nineties, and not knowing English when she launched her project, Baymarrwangga was unable to attend the ceremony.

Lynne Sawyers of Darbys Falls was named Australia’s Local Hero. A foster mother to over 200 children and, as laid-out in her citation, “for 15 years, she has been on call to care for lost, abused and bewildered children in heartbreaking circumstances.”

Over 5,000 nominations contended for this year’s awards.

Sunday, June 19, 2005

The Indianapolis Formula One Grand Prix descended into farce when just six cars started the race on Sunday. The problem arose when Michelin discovered that its tires were incapable of more than ten laps at race pace.

The first indication of trouble was when the rear left tire of Ralf Schumacher’s Toyota racecar exploded during practice on Friday. Schumacher’s car collided with the track wall while travelling at 300 km/h (approx. 186 miles/h), leaving him shaken but generally unharmed. However, further investigations by Michelin revealed that another ten tires had suffered problems, with one also failing on track.

All the problems occurred on the rear left tire during the two long 90 degree corners leading onto the main straight. The nine degree banking and grooves cut into the surface of the track compounded problems.

It is believed that Michelin may not have properly accounted for the grooves cut into the Indianapolis track to improve grip for Indy cars after the track was resurfaced. Indy cars have smaller down-force generating wings so need more grip from their tires than Formula One cars.

Bridgestone, the other tire manufacturer currently in Formula One, did not have similar problems. It is possible that their US subsidiary, Firestone, who supplied tires for an Indy car race after the resurfacing, may have sent information back to their Formula One tires department in Japan. The three teams running Bridgestone tires – Ferrari, Jordan and Minardi – were therefore able to compete without any safety concerns.

Under FIA racing regulations, the only course of action was for the Michelin runners to withdraw from the race on safety grounds. Rules prevented alternative tires from being flown from France overnight, although Michelin were unsure whether these tires were also affected by the problem.

Drivers and teams had also suggested building a chicane to slow cars down between the corners, but Ferrari opposed the idea, and ultimately the FIA rejected the idea under regulations.

Actually the FIA rules states that the tyres manufacters should provide two sets of tyres for the race. One normal, optimized for performance, and one optimized for safety, to be used when the normal one set could not be used. In this case the safe set was not present.

The 123,000 fans watching from the stands were unaware of the farce unfolding below them until the parade lap before the race.

The fourteen Michelin runners peeled off into the pit lane rather than take up their starting positions on the grid. However, at least one driver, David Coulthard told his team that he was willing to race on the tires in question, had the decision been left up to him.

Fans jeered and booed as they realised what was happening, and a small number began throwing bottles and cans onto the track.

Rubens Barrichello, in a Ferrari, ran over one bottle of water at high speed which exploded in a spray of droplets.

Fans started stamping in the stands on the finish line straight, causing them to shake.

A British ITV filmcrew spoke to some fans. “I paid $85 for three-day ticket. I travelled nine hours from Baltimore to be here. Indy cars wouldn’t do this. NASCAR wouldn’t do this. I’ll never attend a race again – only watch on TV.”

Other fans had travelled from Mexico and Panama to watch the race, and said they wanted refunds.

A Police Captain also talked to ITV, saying he’d never seen fans as angry as this before. If trouble flared, they could call on 400-500 officers from local and state police, Indianapolis Police Department and the FBI under contingency plans.

The race was eventually won by Michael Schumacher from his Ferrari teammate Rubens Barrichello. Jordan’s Tiago Monteiro finished third. Despite what was clearly a one-manufacturer race for the win, both Ferrari drivers did indeed race one another hard, with them almost colliding following Schumacher’s exit from the pit lane after his second pitstop, with Barrichello having to take to the infield to avoid spinning off. Following the race, the two drivers did not speak.