Monday, January 25, 2010

Sales of previously owned homes in the US fell at the fastest rate ever recorded last December, according to data from the National Association of Realtors (NAR).

According to the association, existing home sales fell 16.7% last month, to an annual rate of 5.45 million, the largest crash since 1968. The figure was less than the 5.90 million units, or an eleven percent drop, predicted by most analysts.

Sales of homes went up for the entire of 2009 to 5.156 million units, or 4.9% for the year, and prices dropped from 2008 by 12.4%.

NAR chief economist Lawrence Yun described the figures as being “probably the largest annual drop since the Great Depression”. He said that “the market is going through a period of swings driven by the tax credit. We’re likely to have another surge in the spring. Job creation is the key to a continued recovery in the second half of the year.”

Pierre Ellis, a senior economist for Decision Economics in New York, commented on the figures, saying: “The drop in home sales is the payback for the acceleration of sales that occurred with the original first-time home buyers tax credit. […] There is an issue as to whether the decline represents a fundamental weakening.”

“The housing market continues to face significant headwinds, including high unemployment, record delinquencies and foreclosures, the specter of rising mortgage rates as the Fed’s [mortgage-backed securities] purchase programs comes to a close in late March, and tight credit,” Omair Sharif, an economist for RBS Securities, noted.

“Still, the resale market showed resilience in the second half of 2009, and the expansion and extension of the tax credit to April 30 could boost purchases during the spring selling season,” he said.

“We’ll see a pickup in existing home sales in the next couple of months as people take advantage of the tax-credit extension”, economist Adam York of Wells Fargo Securities LLC in Charlotte, North Carolina claimed. He fore-casted a pace of 5.4 million. He said that there were unlikely to be buyers of homes, despite the fact that the U.S. was “past the bottom.”

All four regions of the country saw a decline in sales. In the Northeast, sales fell 19.5 percent, in the Midwest, they plunged 25.8 percent. The South, the country’s largest region, saw a 16.3% decline, while in the West, sales waned by 4.8%.

US stocks fell slightly after the announcement, but went back up later in the day.

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

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

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

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

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

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

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

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

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

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

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

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

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

Saturday, March 14, 2009

Rico Daniels is a British TV presenter living in France who is known for his two television series — The Salvager — whilst he still lived in the UK and then Le Salvager after he moved to France. Rico has been in a variety of jobs but his passion is now his profession – he turns unwanted ‘junk’ into unusual pieces of furniture. Rico’s creations and the methods used to fabricate them are the subject of the Salvager shows.

Rico spoke to Wikinews in January about his inspiration and early life, future plans, other hobbies and more. Read on for the full exclusive interview, published for the first time:

Monday, October 14, 2013

Half-a-million people have fled their homes in and around the Indian state of Orissa after Cyclone Phailin made landfall.

Wikinews interviewed specialists in meteorology about the devastation the cyclone has caused.

Sunday, November 7, 2010Roush Fenway Racing driver Carl Edwards won the NASCAR Nationwide Series 2010 O’Reilly Auto Parts Challenge held yesterday at Texas Motor Speedway in Fort Worth, Texas.

Kyle Busch came in second for Joe Gibbs Racing, and Brad Keselowski finished third to win his title after leading through the season. Busch’s teammate Joey Logano started from 10th place on the starting grid, but finished 4th in front of Martin Truex, Jr. Jason Leffler (Braun Racing) and Reed Sorenson (Braun Racing) finished behind Truex, Jr. in 6th and 7th. Kevin Harvick, Paul Menard, and Steve Wallace rounded out the top ten finishers in the race. Pole position winner James Buescher finished 37th, after being involved in an accident on lap 44.

In the Drivers’ championship, Keselowski clinched the championship with 5,314 points, 465 ahead of Edwards, and 695 ahead of Busch in third. Justin Allgaier was scored fourth, Menard was sixth, and Harvick was seventh, after finishing eighth. Trevor Bayne and Leffler was ninth and tenth. Keselowski now cannot be beaten with only two races to go. “My whole family made so many sacrifices along the way and I’m surrounded by great people. I’m happy and blessed to have this whole team around me. Almost had a win here today and wanted it to work out,” he said after the race.

Afterward, Edwards commented, “I had to do everything I could. I got the best restart I could and it ended up giving us the race. I knew if I gave him an inch he would beat us.” Busch followed in the press conference and said “Carl Edwards jumped the restart by about three lengths before the restart mark.” He was then asked if he should have brought it up to NASCAR, but he answered, “Does it fucking matter? Race is over. Carl Edwards is in victory lane. Nothing you can do about it. Our car was fast in the beginning but didn’t have the speed it took at the end of the race. I don’t know if it was under the hood or through the corners. It was disappointing finishing second but whatever.”

Thursday, October 18, 2007

It can be difficult to be John Reed.

Christopher Hitchens called him a “Bin Ladenist” and Cathy Young editorialized in The Boston Globe that he “blames the victims of terrorism” when he puts out a novel like Snowball’s Chance, a biting send-up of George Orwell‘s Animal Farm which he was inspired to write after the terrorist attacks on September 11. “The clear references to 9/11 in the apocalyptic ending can only bring Orwell’s name into disrepute in the U.S.,” wrote William Hamilton, the British literary executor of the Orwell estate. That process had already begun: it was revealed Orwell gave the British Foreign Office a list of people he suspected of being “crypto-Communists and fellow travelers,” labeling some of them as Jews and homosexuals. “I really wanted to explode that book,” Reed told The New York Times. “I wanted to completely undermine it.”

Is this man who wants to blow up the classic literary canon taught to children in schools a menace, or a messiah? David Shankbone went to interview him for Wikinews and found that, as often is the case, the answer lies somewhere in the middle.

Reed is electrified by the changes that surround him that channel through a lens of inspiration wrought by his children. “The kids have made me a better writer,” Reed said. In his new untitled work, which he calls a “new play by William Shakespeare,” he takes lines from The Bard‘s classics to form an original tragedy. He began it in 2003, but only with the birth of his children could he finish it. “I didn’t understand the characters who had children. I didn’t really understand them. And once I had had kids, I could approach them differently.”

Taking the old to make it new is a theme in his work and in his world view. Reed foresees new narrative forms being born, Biblical epics that will be played out across print and electronic mediums. He is pulled forward by revolutions of the past, a search for a spiritual sensibility, and a desire to locate himself in the process.

Below is David Shankbone’s conversation with novelist John Reed.

Saturday, March 1, 2008

While nearly all coverage of the 2008 Presidential election has focused on the Democratic and Republican candidates, the race for the White House also includes independents and third party candidates. These parties represent a variety of views that may not be acknowledged by the major party platforms.

Wikinews has impartially reached out to these candidates, throughout the campaign. We now interview independent Presidential candidate Frank Moore, a performance artist.

Friday, May 6, 2005

Romania’s National Authority for Tourism (ANT) announced that they would promote tourism in Romania through a new branding strategy, in collaboration with the United States Agency for International Development. The director of ANT, Marius Critonescu, said that the branding exercise will be “a significant component of the Romania’s development as a new tourist destination of international level.” He also added that the development of an integrated brand for Romanian tourism will promote a more positive image for the country, thereby increasing the number of tourists and investors. In recent times, there has been quite a lot of investment in “national branding”, especially in the field of tourism, as most marketing experts believe that branding for a product or a country is theoretically the same thing, and that the same strategies and approach should be used for both.

Concerning the Romanian tourism rebranding, international tourism and marketing expert James MacGregor stated that, “We have to touch the hearts and souls of the contemporary tourists who no longer travel for a simple beach or ski track. They want to live a self-knowledge experience that is truly uplifting and will leave unforgettable memories. The brand must show them not what they will see or do as tourists but what they will feel when visiting Romania.”