Saturday, November 4, 2006

On November 13, Torontonians will be heading to the polls to vote for their ward’s councillor and for mayor. Among Toronto’s ridings is Don Valley East (Ward 33). One candidates responded to Wikinews’ requests for an interview. This ward’s candidates include Zane Caplan, Shelley Carroll (incumbent), Jim Conlon, Sarah Tsang-Fahey, and Anderson Tung.

For more information on the election, read Toronto municipal election, 2006.

Wednesday, February 1, 2006

Comscore Media Metrix Canada has reported that Online Retailers in Canada have seen significant increase in traffic to their websites. In December 2005, 17.9 million shopped retail web sites, an increase of 13 percent over December 2004.

At the top of the list is eBay with 10.9 million visitors, an increase of 16 percent over December 2004. Amazon was next with 6.5 million, an increase of 21 percent.

Best Buy, Canadian Tire, Apple, Sears, and Walmart are among the retailers who all saw an increase in online retail sales.

Flowers and home furnishings purchases also showed big increases from a year ago.

Friday, May 11, 2007

Internet TV came one step closer to reality as startup web broadcaster Joost recently announced that it signed a deal with Warner Brothers to host some of its WBTV-branded content. This deal, along with content deals with other television providers, lately Time Warner and Sony Pictures Television, makes Joost (pronounced “juiced”) the sweetheart aggregator and provider in the coming on-demand, freely distributed online TV broadcasts.

Joost bills itself as an online community where viewers, “can watch what you want, when you want, in full-screen eye-quality proper TV.” The service currently provides about 150 channels, although the availability of some channels varies by country or region due to copyright restrictions. Viewers can navigate screen menus to make programming choices, and then use “widgets” from drop-down menus that allow users to interact with the programming.

“Widgets include a clock, integration of instant messaging, RSS/News feeds and a chat room for the particular channel being viewed on the screen. Users have the ability to opt out of the widgets during viewing or can easily access them from the mouse-activated menus,” according to John P. Gamboa of the Dailey Aztec.

The development efforts at Joost are backed by technology-savvy web entrepreneurs Niklas Zennström and Janus Friis. The two used Internet peer-to-peer networking to create Kazaa, and then later Skype. The cutting-edge music file sharing and telephony implementations of these two applications, some say bleeding edge, appear to have had an affect on the approach being used now by the two at Joost along with co-developers. The copyright infringement-plagued Kazaa was sold to Sharman Networks in 2002. Skype was sold to eBay in October 2005 for $2.6 billion. In July last year, Kazaa settled with music record labels by making a $100 million payment as reparations for illegal file sharing activities employed by users of the application that enabled the distribution of copyright-infringed music files.

Kazaa became a copyright bust. Skype became a jaw-dropping hit, and a hit in the jaw of telcom carriers whose management of voice transmission became undermined by the sub-set of Internet users with broadband connectivity and peer-to-peer web awareness. The evolution is distinctively one-way. Online broadband peer-to-peer connectivity is here to stay after a nasty birth.

“People are looking for increased choice and flexibility in their TV experience, while the entertainment industry needs to retain control over their content,” said Joost chief executive officer Fredrik de Wahl. “We’ve married that consumer desire with the industry’s interests.”

The “marriage” of TV content to “consumer desire” is the hot-spot that media conglomerates are still seemingly trying to figure out as they dispense their less valuable content for Internet consumption. Joost has managed to secure some rights to webcast programming, but the content is not the highest quality broadcasted TV programming currently available through established subscription cable and satellite distribution channels, or even free airwave TV.

Underlying the concept of Internet TV is the distribution of content in a way that is more efficient than the existing model. Peer-to-peer networking over the Internet makes programming available when a user asks for it. The ‘on-demand’ feature of this approach frees up space in the distribution pipeline and provides feedback to the aggregator to know exactly what is in demand. It gives a middle-man the leverage to negotiate with media conglomerates and then manage a pipeline flooded with unviewed content, thereby conserving bandwidth. It also lets viewers opt for free online TV programming through content arrangements made by the web broadcaster, who acts as a gateway to the programs. However, it is not an advertising-free service.

The Joost hoopla is partly spurred on by its expansionist decision on May 1 to allow users of the Beta version to distribute 99 invitations to other people who could become Beta users.

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.

Wednesday, August 15, 2007File:240-dogFighting.jpg

Three Finnish men have been arrested as part of an investigation by the Finnish National Bureau of Investigation (NBI) into apparent illegal dogfights in various locations in the south of the country.

Dog fights, in which two dogs are pitted head-to-head for the entertainment of spectators and for gambling, is illegal in Finland, and is covered by Finland’s animal protection laws, as dogs often sustain severe or even fatal injuries. It is believed this case also involved gambling, thus rendering the suspects, if convicted, in breach of gambling laws also.

The investigation was started in July after the British Broadcasting Corporation (BBC) forwarded information to the NBI, claiming that during an investigation of its own for a programme it was making into dog fighting in the United Kingdom, they had uncovered connections to comparable activity in Finland.

“We are trying to find out when the activity has started and how widespread it has been. Apparently, just a small gang of people has been involved.” said Detective Chief Inspector Göran Wennqvist, adding that “We are now trying to find out whether or not this is part of a larger international organisation or just local criminal activity.”

It is believed the dogs went through training fights to test if they were suitable for fighting prior to actual events. A number of animals thought to have been used for fighting have been examined by a veterinarian to determine the types of injuries sustained by the dogs.

Despite the fact that dog fighting is known to have occurred in various countries – including countries close to Finland, such as Sweden, Norway, and Russia – neither the police or the Finnish Kennel Club were aware of any previous incidents occurring in Finland, although chairman of the board of the Finnish Kennel Club Martti Mannersuo told reporters that he recalled a rumour “many years ago” of domestic dog fights occurring in Finland, although this went unconfirmed. Wennqvist, however, independently told YLE “In other Nordic countries, they have seen incidents of dog fighting since the 90’s, but I haven’t come across any cases in Finland in 32 years,” although it is unclear if this was a confirmed case or if it were linked to the rumour Mannersuo had reported.

Friday, August 27, 2010

Apple Inc. will hold a music-centered event in San Francisco, California on September 1. It has been widely speculated that the company will introduce an updated line of iPod portable music players and a new Apple TV.

The company e-mailed invitations for the event to various media organizations on Wednesday. The message included a picture of a guitar and the time of the event. Apple did not release any information about what products would be involved.

Apple has released new iPods through previous similar events in September in anticipation of the holiday shopping season. This year, Apple may unveil a new iPod Touch with two cameras, similar to their recent iPhone 4 design. It will likely also update the iTunes music store and software.

Speculation about a new Apple TV is mixed. While many blogs are reporting that a refresh of the device will be announced, analysts say that it is unlikely to happen during next Wednesday’s event. According to Reuters, sources are saying that Apple is negotiating with major television networks, including ABC and NBC, in order to provide shows for purchase on iTunes. However, they also reported that the deal has not been completed, and none of the companies involved have commented on the rumors.

It has also been rumored that Apple will introduce a new online music service. In 2009, Apple took over a company that allowed users to stream music online rather than download individual songs. Apple has not confirmed the rumors.

Last September’s media event saw the return of Apple CEO Steve Jobs after he took a break to undergo a liver transplant. This year, the event will be held in San Francisco’s Yerba Buena Center for the Arts, previously used by Apple in April for the unveiling of the iPad.

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.

Monday, July 25, 2005

Windsor Castle, one of Queen Elizabeth II of the United Kingdom’s official residences, is to get a hydro-electric power scheme.

The £1 million project will consist of a series of under-water turbines to be installed at Romney Weir in the nearby River Thames. The system will generate 200kW, enough to meet approximately one third of the castle’s electricity needs.

The electricity from the four turbines will not be sold into the local electricity grid, but will instead be directly connected to Windsor Castle’s electrical system. It will save 600 tonnes of carbon dioxide from being released into the atmosphere every year.

The scheme was announced after it gained planning permission from the local council, the plans having been submitted in February of last year. A feasability study will now be conducted, with construction scheduled to start next year.

The Windsor Castle is not the only environmentally-friendly Royal scheme. A borehole beneath Buckingham Palace provides cold water for air-conditioning and the Duke of Edinburgh’s taxi runs on liquid petroleum gas.