Thursday, July 17, 2008

North America’s oldest retailer, Canada’s Hudson’s Bay Company (HBC), will be transferred from one American owner to another. NRDC Equity Partners, LLC, owners of U.S. department store Lord & Taylor, will purchase HBC from the estate of Jerry Zucker, who died in April.

In 2006, the fate of HBC was first in doubt when Zucker bought it for $1.1 billion from another American owner. The businessman wanted to convert The Bay into a more upscale department-store chain.

Zucker had also begun remodeling the company’s Zellers chain to imitate the Target Corporation, creating wider aisles, expanding outlets, and selling at prices that matched those of the Wal-Mart Canada Corporation.

NRDC plans to introduce up to 15 Lord & Taylor stores in Canada by converting some of HBC’s existing properties, which include stores such as The Bay, Zellers and Home Outfitters. Under the deal announced on Wednesday, NRDC will support a newly-established holding corporation, the Hudson’s Bay Trading Company, with $500 million in funding.

The Hudson’s Bay Company was established in 1670 to support trade and development throughout the northern North American territory that is now Canada.

Monday, April 14, 2008

This weekend, April 12–13, the joint Development Committee of the World Bank Group and the International Monetary Fund (IMF) held its annual Spring Meeting in Washington, D.C.

The Group of Seven (G7), which is comprised of the economic policy makers from the United States, United Kingdom, France, Germany, Italy, Canada, and Japan, held its annual meeting on Friday, April 11. This meeting, which rotates locations, was also held in Washington, D.C.

The Development Committee meeting ended on Sunday, with a call from the economic leaders for assistance to the countries which been adversely affected by rising food prices. Economic growth has slowed to its lowest rate in five years, while the rising costs of food and energy have not slowed.

Robert Zoellick, the president of the World Bank, said, “We have to put our money where our mouth is. Now. So that we can put food into hungry mouths. It’s as stark as that.” He called for US$500 million in emergency funds for the United Nations’s World Food Programme by May 1, 2008.

“All that has been done [in the past decade] can be undone very rapidly by the crisis coming from the increase in food prices,” said Dominique Strauss-Kahn, the managing director of the IMF.

“Children will be suffering from malnutrition, with consequences for all their lives,” he said. He cited the growing use of land for biofuels as contributing to rising food costs. In the end growing violence and civil unrest could be a result.

Strauss-Kahn further warned that eventually it could become “not only a humanitarian question,” but could also affect developed nations by leading to trade imbalances.

Specifically cited as a current example, was Haiti, where just this weekend, violence escalated resulting in the death of a United Nations peacekeeper and the ousting of Prime Minister Jacques-Édouard Alexis.

United States Secretary of the Treasury Henry Paulson cautioned that affected countries “need to resist the temptation of price controls and consumption subsidies that are generally not effective and efficient methods of protecting vulnerable groups.”

Price controls and subsidies “tend to create fiscal burdens and economic distortions while often providing aid to higher-income consumers or commercial interests other than the intended beneficiaries,” Paulson said.

In their Friday statement, the G7 said “there have been at times sharp fluctuations in major currencies, and we are concerned about their possible implications for economic and financial stability.” This marked the first time since the February 2004 meeting in Boca Raton, Florida, that the wording on foreign exchange has been altered.

The G7 presented a plan to strengthen regulation of capital markets. They urged financial firms to “fully” disclose their at-risk investments and improve capital reserves. While the G7 did not outline new monetary or fiscal policies, it did promise action “as appropriate.” The timetable for the plan is 100 days.

The head of G7 Market Economics at Tullett Prebon, Lena Komileva, observed, “The implicit message is that the G7 is moving closer towards concerted action in the event that persistent volatility in the foreign exchange market presents new risk of systemic failure in the financial industry.”

“While action is unlikely in the short run, they are probably already considering a pre-emptive move in foreign exchange markets to slow the dollar’s decline,” added Komileva.

Economists at Goldman Sachs told their clients, “After a period where the possibility of G7 policy intervention seemed very remote, providing no counterweight to the dollar depreciation forces, we are moving towards a regime where G7 intervention is a more real possibility.”

Friday, February 22, 2008

Steve Wright, yesterday convicted of the murder of five women in Ipswich, Suffolk, England, has today been sentenced at Ipswich Crown Court to life imprisonment. The bodies of the five women who worked as sex workers in Ipswich were found around the town in December 2006.

The judge, Mr Justice Gross said that a “substantial degree of pre-meditation and planning” was involved meaning the requirments for a whole life sentence for Wright was met. He said, “This was a targeted campaign of murder. It is right you should spend your whole life in prison.”

Speaking after the sentencing, Deputy Chief Constable of Suffolk Police, Jacqui Cheer said, “At the start of the inquiry we could not have asked for anything more. It is a tribute to all the people who have been involved – not only police officers but their support teams and all the members of the public who phoned-in offering information.”

Monday, May 30, 2011

The University of Chicago’s Joe and Rika Mansueto Library was shut down by a power outage for a short time on Saturday, preventing library personnel from providing full services to its patrons.

The US$81 million library, which opened May 16, includes a 180-seat reading room under a 691-panel glass dome. Five stories underground, a system of five cranes retrieves books sorted into bins, carrying a maximum of about 3.5 million volumes. As of 3:50 p.m. CDT, the automated storage and retrieval system, along with staff computers at the circulation desk, were shut down, preventing patrons from retrieving materials stored underground.

The glass ceiling normally allows enough natural light to pass, but rain clouds in the area darkened the room. Patrons began to flip light switches in front of their seats, but to no avail, and a circulation clerk announced that there had been a power outage. Some patrons then moved to the adjacent Regenstein Library, which still had power. Power was still running along the corridor linking Mansueto and Regenstein Libraries, along with the nearby restrooms and Special Collections Research Center.

An electrician arrived at the building at around 3:50 p.m., and power had been restored by 5:45 p.m.

Sunday, October 10, 2010

Residents of a Leeds, England neighbourhood have requested help from a council because their neighbourhood is plagued by crime, overcrowding, and community tensions.

Leeds City Council received a request for help from residents of Hyde Park, who said they were worried about the increasing level of anti-social behavior and worsening community relations. A report will be unveiled on Wednesday by a council delegation, highlighting the problems in the area. “The people living in Hyde Park come from widely different population groups… these groups have very different customs, needs and living styles and this can provoke high levels of tension in the area,” the delegation said.

The council claims that because of the 28 per cent ethnic minority population and the 40,000 students living in the neighbourhood, there are tensions between residents. They added, however, that they are actively encouraging people to work together, citing a multi-faith forum, a cricket competition and activities which bring old and young together.

The report says that the council are trying to build relationships between Muslims and police, something which they said is “particularly important after the area’s connection to the London bombings on 7th July 2005.” A local newspaper reported that “the Shebab project introduces young Muslims to role models from sport and culture and also runs scholars’ talks to counter extremist ideologies.”

Crime has increased by 7% in the past year in Hyde Park, and residents noted that anti-social behaviour was getting worse. The council said that an anti-burglary task force had helped to reduce the number of thefts from homes. Residents complained that there was a lack of pride in the area, and at the end of the academic year in the summer, large piles of rubbish were left in streets, yards and alleyways. The report adds that the council operates a recycling scheme aimed towards teenagers, and that rubbish collections have increased.

The Guardian reported on Wednesday that campaigners are attempting to “take control of a derelict school building and transform it into a community hub are appealing for sponsors and partners in a bid to turn their dreams into reality.” They say that the unused building, owned by the council, could be used for meetings and events. A volunteer group of residents have been working on a business plan, and have gained support from local businesses to create “a vision of an open, accessible and valuable resource for all.”

A member of the commitee, however, said he was “frustrated” with the council’s attitude towards the plans. “The RPCC is slightly frustrated with certain communication issues that we’ve had with the council, but we’re working with them and hoping to gain further assistance going forward,” he said. “It’s a shame that certain setbacks could have been avoided.”

The deputation added that “a major factor in Hyde Park’s suffering is its high level of population density”, which they conceded is something they are unable to change. The council responded to complaints that streets are “cheap and unhealthy takeaways, letting agents and boarded-up shop fronts,” by saying that Hyde Park Corner and Headingley are, according to the Yorkshire Post, “thriving shopping areas and work had taken place to ensure a good mix of outlets.”

The report concludes: “The council acknowledges that because of the very particular circumstances which exist in the neighbourhood, Hyde Park faces difficult challenges which affect the quality of life of residents and that ‘normal’ service levels may not be sufficient to tackle some of these. The council will do more to enable local people to influence how services work and how local problems are tackled. Local community and voluntary groups will be invited to play an active role.”

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.

Sunday, July 10, 2005

On Friday, the annual meeting of the leaders of the world’s eight most powerful countries, the Group of Eight (G8), ended ahead of schedule with few resolutions to the disappointment of many. The G8 meeting ended early Friday to accommodate Tony Blair, who requested to return to London in response to Thursday’s bombings in London. At the conclusion of the meeting, the leaders pledged to increase humanitarian aid to Africa by $50 billion, however $30 billion had already been pledged previously.

The group was unable to make significant progress regarding global warming, but made several key decisions relating to combating poverty in Africa. The eight leaders pledged to double the previously proposed aid of $25 billion to $50 billion a year by 2010. The group also confirmed an earlier announcement that they would cancel the debt of 18 countries, mostly in Africa, selected from among the 38 heavily indebted poor countries (HIPCs).

Additionally, $2 billion was earmarked for aid to the Palestine Nation. In addition to the increase in aid for Africa, the group announced universal access to AIDS treatment, committed to a peacekeeping force in Africa, and heard African leaders’ promises to move toward democracies that follow the rule of law.

Adriano Campolina Soares, head of ActionAid’s Americas office, stated her disappointment with the resolutions. “The G8 have completely failed to deliver trade justice. President George W. Bush and the European Union have played a cynical game of bluff. The US has no intention of giving up or lowering the massive subsidies it gives its cotton farmers, that are forcing 10 million farmers in West Africa out of business. Poor countries should take this as a warning that they will have a hard fight in the upcoming trade talks at the World Trade Organization.”

Jennifer Morgan, climate-change director for the World Wildlife Fund expressed frustration with the United States’ effort. “There’s been no movement from the Bush administration, even the very noble efforts of Prime Minister Blair to get President Bush to change his position have failed.”

U2 singer Bono sees it in a different perspective. “It’s worth stopping for a second and looking back down the valley of where we’ve come from, we jumped up and down when Live 8 raised $200 million, and now, to stop for a second, we are talking about $25 billion in new money.”

Live 8 organizer Bob Geldof described the summit as a “qualified triumph.”

Gordon Brown, British Chancellor of the Exchequer: “It makes you angry because there’s nothing in science or technology or medicine that should prevent us from tackling poverty. It’s a lack of political will and if Gleneagles is about anything it’s bringing together all the countries of the world – rich and poor – agreeing that we’ve got to take the action that’s necessary. That’s why I hope by the time Gleneagles is finished we can say that the timetable for action and poverty is one that will lead to great improvements by 2015.”

Friday, March 10, 2006

Buffalo, New York —The Common Council of Buffalo voted on Tuesday to send the Elmwood Village Hotel proposal “to committee for further discussion”, after citing the need for more public involvement.

The Elmwood Village Hotel is a development proposal by the Savarino Construction Services Corporation, a project designed by the architect Karl Frizlen of The Frizlen Group. The hotel would be placed on the southeast corner of Elmwood and Forest Avenues in Buffalo.

To make way for the project, at least five buildings located at 1109 to 1121 Elmwood Ave would be demolished. At least two properties on Forest Avenue could also be demolished. The Elmwood properties, according to Eva Hassett, Vice President of Savarion Construction, are “under contract”, but it is unclear if Savarino Construction actually owns the Elmwood properties. Hans Mobius, a former mayorial candidate, is still believed to be the current owner the properties. Mobius also owns 607 Forest Avenue.

The properties 605 and 607 Forest Avenue could also be included in the proposal according to Hassett.

“We would use a Special Development Plan to rezone 1119-1121 Elmwood and 605 Forest to a C-2 zoning category,” stated Hassett. It is possible that Savarino Construction may try to obtain a variance for 605 Forest, which would allow them to enforce eminent domain, should the hotel be allowed to go forward.

The building at 607 Forest was also discussed to be rezoned, but it is unclear what the plans would be for that property. During the February 28 Common Council meeting, Hassett stated that the properties 605 and 607 were “now off the agenda”.

Pano Georgiadis, owner of Pano’s Restaurant at 1081 Elmwood, owns the property at 605 Forest and attended Tuesday’s Common Council meeting.

“Having a hotel is a bright idea. We all love the idea of a hotel, but the way that it is presented, is wishful thinking. This hotel does not fit. It’s like putting two gallons of water in a gallon jug, it does not fit. At the last meeting, the architect admitted that they are planning to put the undergound parking lot and the hotel, right at the property line. If I open my window, I will be able to touch the wall, that goes fifty feet high”, said Georgiadis.

“There is a problem having a seventy-two room hotel and fifty-five parking spaces. That means that all the other cars will spill all over the neighborhood. The footprint is simply too small. If you have a bigger [parking] lot, and a smaller hotel, I will welcome a hotel. I have a parking lot at my own business, and I am chasing people all day long. Remember, the city says it has ‘zero tolerance [for illegal parking]’. Try telling that to the guy from Albany who came to see his kids, that are going to Buffalo State, who would get tickets totaling over a hundred dollars”, added Georgiadis.

The city’s Planning Board is scheduled to meet on March 14, 2006 at 9:00 a.m. about the proposal. Although a discussion will take place, no vote is expected to be taken.

At the moment, none of the properties are zoned for a hotel. Savarino Construction plans on asking for a C2 zoning permit. If that does not work, they plan to implement a new zoning plan called a “special development plan” which would allow for only a hotel on the site. That zone would not be able to be changed.

“This [project] justifies Mobius’s refusal to invest in any maitenance^[sic] or improvements”, on the properties said Clarence Carnahan, a local resident. “Where were the Council persons over the years? Where were the city inspectors over the years, to make sure that he maintained and improved his properties? The government was supposed to be protecting, not being preditorial. I see a predatorial issue here when it comes to this hotel. Over the years: Why has the local government been disfunctional when it came to Mobius’s properties? Refusal to invest in improvements, doesn’t that sound like a slumlord? Maybe I am missing a point here, but what kind of messages does this send to other slumlords that havn’t^[sic] been jailed or fined? It’s [the hotel] trying to be pushed through.”

Carnahan also presented signs for residents and or business owners who are opposed to the hotel, that could be placed in windows or on stakes in the yard. Some of the signs said, ‘No tell hotel’, ‘Hans off, no hotel’, ‘It takes more than a hotel to make a village’. and ‘Keep Elmwood free, no hotel’. Carnahan plans on making more signs for a protest to be held on Saturday March 18, at 2:00 p.m. (EST) on Elmwood and Forest. Some signs were given to individuals after the meeting.

“First things first, Hans is the problem, and I don’t think it has been addressed. Let’s roll back the clock on this project. What can we do with Hans? There is such thing as eminent domain, which could be of greater interest to the community, to seize the property at its lowest assessed value”, said Nancy Pollina, co-owner of Don Apparel with Patty Morris at 1119 Elmwood. “There are so many ideas that have not been explored and we are about to give this parcel away, to a big developer.”

Mobius has not returned any calls by Wikinews regarding the situation.

A freelance journalist writing for Wikinews has obtained a letter, exclusively, addressed to one of the five business owners from Hans Mobius stating:

There is a proposal to develop my property which you are currently renting. Because of opposition to this development, it does not look like it will happen. I will let you know if there any changes.

Despite the letter, there have been no plans or decisions made to end the proposal.

To date, none of the business owners or residents of 1119-1121 Elmwood have received an eviction notice.

Business owners and residents gave an indication of what they would like to see happen at the corner; a project similar to one done locally last year. There, developers renovated two buildings on Auburn and Elmwood Avenues, merging the buildings into one thus allowing for more shop space. Among some of the shops to move in after the development were Cone Five Pottery, The Ruby Slipper, and Abraham’s Jewelers. Prior to the renovation work, the left building in the picture was boarded up for several years. Many of the concerned locals would like to see a similar development on Forest and Elmwood.

Rocco Termini, a developer in Buffalo, proposed a similar design at the February 28 community meeting

In an interview after the February 28 meeting, Termini stated, “I will be willing to take a look at this myself, or I would be more than happy to be partners with Sam, Sam Savarino”, who is President and Chief Executive Officer of Savarino Construction Services Corp.

So far Savarino Construction has no plans to team up with Termini.