Saturday, September 29, 2018

Yesterday morning near the international airport located on Weno island of Chuuk state of the Federated States of Micronesia, Oceania a passenger airplane of model Boeing 737-800 flown by the Air Niugini carrier crashed into sea as its pilot missed the runway. All 47 people on board — by differing reports, 36 passengers and eleven crew or 35 passengers and twelve crew — survived.

The report by the international commercial aviation safety organization Jet Airliner Crash Data Evaluation Centre indicated the crash coincided with a sudden intensification of the weather conditions. timeanddate.com-supplied data from CustomWeather reported rain showers at 9:40 a.m. local time, following cloudy conditions at 8:50 a.m.

The airplane reportedly landed around 9:30 a.m. local time, short of the runway by about 160 m to 200 m (about 525 to 650 feet), according to reports. Locals immediately began to rescue the passengers and crew on fishing boats. Officials arrived after about ten minutes, according to a witness quoted by The Guardian.

In an interview, a passenger alleged the crew started panicking and yelling, The Guardian reported. A first responder, Dr James Yaingeluo, also said the airplane crew were in panic. He said, “There was a little bit [of] chaos at first because everybody was really panicked and tried to get out of the plane […] other than that we were doing as much as we can. Luckily there are no casualties.”

Yaingeluo said nine people were taken to a hospital. Four people remained in hospital, one “seriously injured”, according to reports recounted by ABC News on Friday evening.

Flight 73 was coming from Pohnpei in the Federated States of Micronesia. Its destination was Port Moresby in Papua New Guinea, with a stop at the Chuuk state.

Friday, January 25, 2008

B2B Trade Area of Taipei Game Show, criticized by trade buyers last year, but accompanied with 2008 Taiwan Digital Content Forum, moved to the second floor at Taipei World Trade Center for world-wide participants with a better exchange atmosphere this year.

Not only local OBMs (Softstar Entertainment, Soft-World International Corp., International Games System Corp., …, etc.) but also companies from New Zealand, Canada, Japan, Hong Kong, and South Korea showcased different specialists with multiple styles. Especially on South Korea, participated members from G? Trade Show (Game Show & Trade, All-Round, aka Gstar) showcased gaming industry of South Korea and the G? upcoming at this November with brochures.

In the 2-days Digital Content Forum, world-class experts not only shared industry experiences, members from Taiwan Gaming Industry Association also discussed and forecasted marketing models for gaming industry. With participations from governmental, industrial, and academical executives world-wide, this forum helps them gained precious experiences of digital content industry from several countries.

According to the Taipei Computer Association, the show and forum organizer, the digital content industry in Taiwan was apparently grown up recent years as Minister of Economic Affairs of the Republic of China Steve Ruey-long Chen said at Opening Ceremony yesterday. Without R&Ds from cyber-gaming, and basic conceptions from policies and copyright issues, this (digital content) industry will be fallen down in Taiwan. If this industry wanted to be grown up in sustainability, gaming OBMs in Taiwan should independently produce different and unique games and change market style to market brands and games to the world.

Tuesday, March 7, 2006

Kirby Puckett, a former professional baseball player and Minnesota Twins legend, died Monday afternoon, March 6, in a Phoenix, Arizona, hospital, one day after suffering a stroke and undergoing emergency surgery for the resultant cerebral hemorrhage. He was 45 years old.

The Hall of Fame center fielder, whose .318 career batting average is surpassed only by Joe DiMaggio among right-handed hitters, was a ten-time All-Star in twelve seasons with the Minnesota Twins. “Puck” won six Gold Glove awards and five Silver Slugger awards for defensive and offensive excellence at his position, and led the Twins to World Series Championships in 1987 and 1991. He retired as the Twins’ all-time leader in hits, doubles, total bases, at-bats and runs, records that he still holds to this day. Unfortunately, his playing career was cut short in 1996, when he was diagnosed with glaucoma, which has left him blind in one eye. Even though his career was considerably shorter than those of most inductees, it was long enough for Baseball Hall of Fame eligibility. He was inducted in 2001, his first year of eligibility.

Puckett had gained weight in recent years, and was reportedly still suffering from a bitter divorce in 2002, and was still depressed about his career being cut short. His professional relationship with the Twins ended in 2002, and he went into seclusion thereafter. However, the Twins have constantly attempted to contact Puckett in hopes that he would return to help the team in some form. He also had his personal reputation sullied by an incident in 2003 where he was accused of groping a woman in a bathroom in a Minneapolis-area restaurant. He was cleared of all charges, but the emotional damage he incurred from the incident had increased his self-imposed seclusion from the baseball community.

Puckett suffered the stroke early Sunday morning at his home in Scottsdale, Arizona. He was initially transported by ambulance to Scottsdale Memorial Hospital, then was airlifted to Scottsdale Osborne Hospital for emergency surgery in an attempt to stop a cerebral hemorrhage. After that, he was transferred St. Joseph’s Hospital and Medical Center‘s Barrow Neurological Institute in Phoenix in hopes of further treatment. His condition declined, however. He received the last rites and passed away Monday afternoon.

Puckett is survived by his ex-wife Tonya, his children Catherine and Kirby Jr., and his fiancee, Jodi Olson. Funeral arrangements are pending.

Monday, March 27, 2006

The Prime Minister of the United Kingdom Tony Blair addressed a special joint sitting of the Australian Parliament March 27, 2006. After introductory speeches by both the Prime Minister of Australia John Howard and the Leader of the Opposition Kim Beazley, Blair spoke on globalisation and trade, security, terrorism, and the war in Iraq and Afghanistan. He also touched on the Middle East and climate change.

Mr Blair started by reminiscing about his childhood, when he lived from the age of two until five in Adelaide, South Australia. “I remember returning from the hospital where my sister Sarah had just been born, looking at her in the back of the old Austin that we drove; running errands for our neighbour, Mr Trederay; taking showers under the garden hose in the heat on the lawn; visiting friends up-country in the Adelaide Hills; and being chased by magpies as I ran across the open ground near our home.”

He talked about the inevitability of Globalisation, but warned that it should be tempered by social justice. “Globalisation is a fact, but the values that govern it are a choice. We know the values we believe in: democracy and the rule of law, but also justice, the simple conviction that, given a fair go, human beings can better themselves and the world around them.” He later linked security with justice, saying “there is no prosperity without security and no security without justice. That is the consequence of an interconnected world.”

He described the two perspectives on trade as “open or closed”, meaning those who support free trade and reduction of tarrifs, and those who are more protectionist. Mr Blair was firmly in the “open” camp, but he warned that poverty must also be tackled. “Everywhere you look today, the tide of protectionist sentiment is flowing. In this World Trade Round we have the opportunity to make it ebb. At stake, obviously, is our commitment on world poverty and development.” According to Blair, rich western nations have a long way to go before their markets can be considered open. “Europe’s agricultural protection is a policy born of another age and it is time to end it. But change in Europe alone is not the answer. America must open up; Japan, too.”

He also linked trade to development, saying that the connection was a matter “of justice, because the poorest nations need to be able to stand on their own two feet and trade in our markets.”

He warned of the immediate threat of “Islamist extremism”, but argued that terrorism did not begin with the September 11 attacks in the United States, but rather had a much longer history. “It simply came to our notice then. Its victims are to be found in the recent history of many lands, from Russia and India but also Algeria, Pakistan, Libya, Saudi Arabia, Yemen, Indonesia, Kenya and countless more.”

He acknowledged that the decision to invade Iraq was as divisive in Britain as in Australia, but sought to justify military action, saying “for almost three years now we have been in Iraq with full United Nations support. From the outset our forces in Afghanistan have been there with UN authority. In both cases, there is the full support of democratically elected governments.” He also spoke of the gains made by both Iraq and Afghanistan. “In each case, the people have, for the first time, been offered a chance to vote. In each case, they have seized it, despite obstacles we can scarcely imagine.”

He spoke in support of the US Alliance, but said that maintaining some independence was important. “I do not always agree with the United States. Sometimes they can be difficult friends to have.”

Mr Blair called on the United States to work for security in the Middle East, and especially for a two state solution. “once the Israeli election has taken place, we must redouble our efforts to find a way to the only solution that works—a secure state of Israel and a viable, independent Palestinian state.”

Mr Blair emphasised the need to focus on climate change, and said that it was even more important now with the crisis over oil prices. He noted the differences between the Australian and British approaches to climate change, and argued that co-operation was needed. “At some point we must bring it all together. There will be no agreement worth having that does not involve the United States, China and India, as well as the rest of us.”

Friday, April 17, 2009

Anti-tax anti-spending rallies called Tea Parties took place across the United States Wednesday. The rallies were held in various locations from Boston, Massachusetts to San Francisco, California.

Wednesday was chosen by organizers as it is the federal income tax filing deadline, as well as the deadline for many states. The rallies were named after the Boston Tea Party, a 1773 pre-American Revolution event protesting taxation without representation.

Organizers indicated that Tea Parties took place at more than 850 locations, with a combined total of 750,000 to over 1 million attendees. The Americans for Tax Reform has tallied 242 locations with around 299,071 attendees.

In Washington, D.C., several thousand protesters demonstrated outside the White House about taxes and excess spending by the national government. The Secret Service stopped the rally after a suspicious package was tossed over the White House fence. With the area cleared, a bomb squad robot inspected the package that turned out to be a box of tea bags. The area was reopened.

Monday, June 21, 2010

Sweden’s first royal wedding since 1976 took place Saturday when Crown Princess Victoria, 32, married her long-time boyfriend and former personal trainer, Daniel Westling, 36. The ceremony took place at Stockholm Cathedral.

Over 1,200 guests, including many rulers, politicians, royals and other dignitaries from across the world, attended the wedding, which cost an estimated 20 million Swedish kronor. Victoria wore a wedding dress with five-metre long train designed by Pär Engsheden. She wore the same crown that her mother, Queen Silvia, wore on her wedding day 34 years previously, also on June 19. Victoria’s father, King Carl XVI Gustaf, walked Victoria down the aisle, which was deemed untraditional by many. In Sweden, the bride and groom usually walk down the aisle together, emphasising the country’s views on equality. Victoria met with Daniel half-way to the altar, where they exchanged brief kisses, and, to the sounds of the wedding march, made their way to the the silver altar. She was followed by ten bridesmaids. The couple both had tears in their eyes as they said their vows, and apart from fumbling when they exchanged rings, the ceremony went smoothly.

Following the ceremony, the couple headed a fast-paced procession through central Stockholm on a horse-drawn carriage, flanked by police and security. Up to 500,000 people are thought to have lined the streets. They then boarded the Vasaorden, the same royal barge Victoria’s parents used in their wedding, and traveled through Stockholm’s waters, accompanied by flyover of 18 fighter jets near the end of the procession. A wedding banquet followed in the in the Hall of State of the Royal Palace.

Controversy has surrounded the engagement and wedding between the Crown Princess and Westling, a “commoner”. Victoria met Westling as she was recovering from bulemia in 2002. He owned a chain of gymnasiums and was brought in to help bring Victoria back to full health. Westling was raised in a middle-class family in Ockelbo, in central Sweden. His father managed a social services centre, and his mother worked in a post office. When the relationship was made public, Westling was mocked as an outsider and the king was reportedly horrified at the thought of his daughter marrying a “commoner”, even though he did so when he married Silvia. Last year, Westling underwent transplant surgery for a congenital kidney disorder. The Swedish public have been assured that he will be able to have children and that his illness will not be passed on to his offspring.

Westling underwent years of training to prepare for his new role in the royal family, including lessons in etiquette, elocution, and multi-lingual small talk; and a makeover that saw his hair being cropped short, and his plain-looking glasses and clothes being replaced by designer-wear.

Upon marrying the Crown Princess, Westling took his wife’s ducal title and is granted the style “His Royal Highness”. He is now known as HRH Prince Daniel, Duke of Västergötland. He also has his own coat-of-arms and monogram. When Victoria assumes the throne and becomes Queen, Daniel will not become King, but assume a supportive role, similar to that of Prince Phillip, the husband of the United Kingdom’s Queen Elizabeth II.

Monday, January 12, 2009

Byrraju Ramalinga Raju, founder and chairman of Satyam Computer Services, and his brother, B. Rama Raju, the company’s managing director, were arrested late Friday by Andhra Pradesh police. The brothers were placed under judicial custody in a Hyderabad, India jail and will remain there until January 23. Facing charges of criminal breach of trust (Section 406 of IPC), criminal conspiracy (Section 120-B), cheating (Section 420), falsification of records and forgery (Section 468), and fraudulent cancellation of securities (Section 477-a), they face up to ten years imprisonment if convicted.

After 18 hours of interrogation by the Crime Investigation Department (CID) at the state police headquarters, the Raju brothers were sent to the Chanchalguda prison and slept Saturday night on the floor along with 26 other low-risk inmates.

S. Bharat Kumar, the Rajus’s lawyer, asked the magistrate to issue orders for health monitoring. “His blood pressure is fluctuating and he needs medical treatment,” said Bharat Kumar. Mr. Raju appeared before the court Saturday while a team of doctors visited him after he had complained of chest pain.

Raju has Hepatitis-C, and both brothers have high blood pressure, so health precautions are necessary while imprisoned. Prison rules mandate service of jail food thrice a day. The menu includes 650 gm of rice thrice a day with 250 gm of vegetable curry and 125 gm of ‘daal’ plus tea twice a day.

Satyam’s chief financial officer Vadlamani Srinivas, who was also arrested Saturday, had undergone preliminary investigation and appeared Sunday before a special court, according to A. Sivanarayana, Andhra Pradesh additional director general of police. Srinivas was remanded to judicial custody until January 23 by Mr. D. Ramakrishna, Sixth Chief Metropolitan Magistrate, and sent to the Chanchalguda jail with the Raju brothers after interrogation by CID’s Crime Branch (the CB-CID). During his Saturday night arrest and probe by CB-CID, Srinivas made revelations which are contained in his confession letter as submitted to Network 18. “According to me fixed deposits are unreal and fictitious which were managed and was an understanding between the audit section management,” Srinivas stated.

The Hyderabad court on Monday postponed the bail hearings of the Raju brothers and Srinivas to January 16. To be defended by a battalion of 25 lawyers, the three accused will remain in Chanchalguda Central Jail until further court order. The Raju brothers were shifted Sunday to a mid-size Old Hospital Barrack cell shared with a bootlegger.

In 2008, the company struggled to purchase two infrastructure companies founded by family members of company founder and CEO Dr. Raju – Maytas Infrastructure and Maytas Properties – for $1.6 billion, despite concerns raised by independent board directors. Dr. Raju tendered his resignation on January 7 after due notice of falsified accounts to board members and the SEBI.

Since January 7 when two lawsuits were commenced, dozens of other class action law suits were filed against Satyam for hundreds of millions of dollars damages based on fraud in the United States District Court for the Southern District of New York in Manhattan, among others. The securities fraud class-action lawsuits have been filed on behalf of investors who bought Satyam American Depositary Receipts (ADRs) since 2004.

On Wednesday Dr. Raju admitted to falsifying and overstating Satyam’s cash reserves by $1B US dollars (£661m) or 94% of its cash and bank balances on books at the end of September.

The fraud was perpetrated several years ago to bridge “a marginal gap” between actual and accounting books operating profits, and continued for several years. “It was like riding a tiger, not knowing how to get off without being eaten,” B. Raju said.

In a letter to the board, Dr. Raju said that neither he nor the managing director had benefited financially from the inflated revenues. Further claiming that none of the board members had any knowledge of the dire company situation, he noted that Satyam’s balance sheet as of the September 30, 2008, carried inflated figures for cash and bank balances of INR 5,040 crore (as against INR 5,361 crore reflected in the books). He alleged it also carried an accrued interest of INR 376 crore which was non-existent. He confessed that he himself prepared an understated liability of INR 1,230 crore on account of funds amid an overstated debtors’ position of INR 490 crore (as against INR 2,651 crore in the books).

Indian analysts have compared the Satyam-Raju scandal to the infamous American Enron scandal. Immediately following the media expose, PricewaterhouseCoopers, auditor of Satyam’s accounts, was set to be probed for complicity in the controversy. Times Now has reported that the Andhra Pradesh CID arrested PricewaterhouseCoopers (PWC) representative Gopal Krishnan for investigation on Saturday night.

New York-listed Satyam Computer Services Ltd., India’s fourth-biggest software firm, is a consulting and information technology services company based in Hyderabad, India. Founded in 1987 by Dr. Byrraju Ramalinga Raju, Satyam’s network spans 67 countries on six continents. It employs 53,000 professionals in India, the United States, the United Kingdom, the United Arab Emirates, Canada, Hungary, Singapore, Malaysia, China, Japan, Egypt and Australia. Its monthly salary outflow is estimated at six billion rupees ($125 million). Deriving more than half of its revenues from the United States, it serves 700 global companies, 185 of which are Fortune 500 corporations.

Satyam’s clients include Nestle, Ford, General Electric Co., General Motors Corp., Nissan Motor Co., Applied Materials Inc., Caterpillar Inc., Cisco Systems Inc. and Sony Corp., and brought in about $40bn last year.

In December 2008, a failed acquisition attempt involving the company Maytas led to a plunge in Satyam’s share price. After Wednesday’s confession, Satyam stocks fell further by more than 70%, while the BSE SENSEX dropped to 7.3% Wednesday, causing the removal of Satyam Computer Services from its indices on Thursday. The shares free fell to 11.50 rupees on Friday, their lowest level since March 1998, compared with around last year’s high of 544 rupees.

The New York Stock Exchange has terminated trading in Satyam stock as of January 7, while the National Stock Exchange of India said it will remove Satyam from its S&P CNX Nifty 50-share index from January 12.

India’s biggest-ever corporate fraud has seriously tainted India Inc.‘s strong corporate governance image. “The admission of fraud in financial affairs has created an adverse impression in the minds of trade, business and industry across the world,” the Indian government admitted. The government intervened on Friday night, dismissing Satyam’s board of directors, announcing it will appoint representatives to manage the affairs of the insolvent outsourcing giant. The board would meet within seven days. Dr Yeduguri Samuel Rajasekhara Reddy, chief Minister of State of Andhra Pradesh, India, on Sunday said that the main agenda is to protect the jobs of the software professionals. “We are taking all needful steps in coordination with the government of India to ensure that the jobs of 53,000 engineers are protected and the shareholders’ money is salvaged,” Reddy said.

“We are working on the names. The Satyam case is an aberration. The credibility of the Indian corporate sector in general, and IT sector in particular, should not be allowed to suffer because of this.” Prem Chand Gupta, the Corporate Affairs Minister said. The Federal Government of India appointed a three-member independent board with full authority for Satyam on Sunday and was set to convene within 24 hours. “We have appointed Deepak Parekh, chairman of Housing Development Finance Corporation, Kiran Karnik, former president of IT industry body NASSCOM and C. Achutan, former member of Securities and Exchange Board (SEBI) of India,” Mr. Gupta said.

In early Monday trading (0535 GMT) after the creation of the three-member board, Satyam shares rocketed upwards 60% to 38.15 rupees, even though the main Mumbai market was down more than 2%. BBC reported that Satyam shares have jumped 51% to 36.05 rupees on Monday after the stock lost 87% last week. “The constitution of the new board is seen as a positive step by the market. It’s a confidence boosting measure,” K.K. Mital, Globe Capital, New Delhi head of portfolio management services said. “But the rally will depend largely on the financial situation at the company and the kind of measures that are taken to improve liquidity,” he added.

The Company Law Board, however, has requested Satyam’s interim board not to implement its decisions. “We are asked by the Company Law Board not to implement the decisions of the board. But we are allowed to continue our activity. The team which was constituted recently is continuing its work,” Satyam head global marketing and communications, Mr. Hari Thalapalli, said.

Lazard Ltd., who has a 7.4% stake in Satyam, sought representation on the new board and wrote as much to The Indian Ministry of Corporate Affairs. “As the largest shareholder in the company, we want to be consulted in whatever decisions are being taken by the Indian government. We have written to the Ministry of Corporate Affairs and are awaiting a reply from them,” Hitesh Jain, a partner at ALMT Legal, who claimed to represent Lazard, said. “It is a fair proposal and we will take a decision as and when we clear other issues. No decision on this has been taken yet,” P.C. Gupta replied.

Meanwhile, the Securities and Exchange Board of India (SEBI) also announced it will try to control the damage and take steps to boost investor confidence. “This exercise will be undertaken after the third quarter results and is expected to be completed by end of February this year,” a SEBI official statement said. A SEBI team is also investigating acting-CEO Ram Mynampati whose salary was greater than that of founder Dr. Raju and all the directors combined. Dr. Raju had just one fifth of Mynampati’s total package of over Rs 3.5 crore as of March 2008. All the directors comparably received only a total of Rs 2.6 crore as salary, commissions, sitting fees, professional fees and other receivables.

Further, the Andhra Pradesh Police CID and teams assigned by the Economic Offences Wing of the CB-CID conducted searches Sunday of homes of the accused including the ex-CFO’s office to gather documentary evidence about the financial fraud.

Tuesday, April 5, 2005After a blowout win for the New York Yankees on Sunday, their ancient rivalry with the 2004 World Series champion Boston Red Sox resumed with a close game on Tuesday that went down to the wire. Yankees closer Mariano Rivera had a blown save in the top of the ninth when he surrendered a solo home run to Red Sox catcher Jason Varitek that tied the score at 3-3. Yankee Derek Jeter saved the day in his lead-off at bat in the bottom of the ninth, hitting a walk-off home run off Keith Foulke to win the game for the Yankees. Yankees manager Joe Torre said, “We escaped today. Mariano is still the best in the game as far as I’m concerned. That doesn’t mean that clubs aren’t going to get to him once in a while. These guys we’re playing are the world champs.”

Rivera and the Yankees won’t soon forget the glory snatched from them by the Red Sox in last year’s American League Championship Series. The Red Sox were within three outs of being defeated in a sweep when they rallied against Mariano Rivera at Fenway Park in Game 4. They went on to win in 12 innings, and won the next three games to take the Series, and went on to win the World Series.

Other spotlights included starting pitcher Carl Pavano‘s debut for the Yankees and Hideki Matsui, who hit his second home run in two games.

Today’s game was played in front of 54,690 at Yankee Stadium.