Sunday, January 20, 2008

The Standard Chartered Marathon, nicknamed “The Greatest Race on Earth“, held its third stage in Mumbai, India today. Because of the scorching hot weather in India, marathon runners had to adapt to the weather to overcome the challenge.

More than 30,000 runners participated in this race, joined by local NGOs and disabled who participated in a special charity short-distance running including 6km dream run, 4.3 km senior, and 2.5km wheel-chair classes. Gabriela Szabo, former Romanian Olympic Gold Medalist, named as charity ambassador of the race, was pleased by the participation from experts and NGOs.

An hour into the race, former champion Daniel Rono and Joseph Kimisi took the lead, but then Tariku Jifar from Ethiopia and defending champion John Ekiru Kelai took over Rono and Kimisi. After 40 kilometres, Kelai took a decisive lead and finally retained his champion title in 2 hours 12 minutes 22 seconds.

In the Women’s Group, Mulu Seboka from Ethiopia won the champion with 2H30m03s. Local runners Surendra Singh & Kavita Raut won the Men’s and Women’s Champions in the half-marathon class.

Thursday, July 3, 2014

Ian Narev, the CEO of the Commonwealth Bank of Australia, this morning “unreservedly” apologised to clients who lost money in a scandal involving the bank’s financial planning services arm.

Last week, a Senate enquiry found financial advisers from the Commonwealth Bank had made high-risk investments of clients’ money without the clients’ permission, resulting in hundreds of millions of dollars lost. The Senate enquiry called for a Royal Commission into the bank, and the Australian Securities and Investments Commission (ASIC).

Mr Narev stated the bank’s performance in providing financial advice was “unacceptable”, and the bank was launching a scheme to compensate clients who lost money due to the planners’ actions.

In a statement Mr Narev said, “Poor advice provided by some of our advisers between 2003 and 2012 caused financial loss and distress and I am truly sorry for that. […] There have been changes in management, structure and culture. We have also invested in new systems, implemented new processes, enhanced adviser supervision and improved training.”

An investigation by Fairfax Media instigated the Senate inquiry into the Commonwealth Bank’s financial planning division and ASIC.

Whistleblower Jeff Morris, who reported the misconduct of the bank to ASIC six years ago, said in an article for The Sydney Morning Herald that neither the bank nor ASIC should be in control of the compensation program.

Friday, March 10, 2006

On February 8, the same day Super Size Me opened in Prague, a Czech film company’s volunteer known as Karel Gustav Bozan began a 1 month diet of Czech pub food and beer in a Czech version called “Super Spek Me”; which translates loosely as “Super Flab Me”.

Zuzana Pudilova of Aerofilms described the volunteer at that time: “He is a well-built man between 45 and 50. He is almost 2 metres tall, he is not exactly thin but until now he has had quite a healthy lifestyle.”

Karel ate typical Czech pub food for an entire month with three rules: no vegetables or fresh fruit (unless they came with a meal) no exercise, and lots of beer.

Karel’s menu consisted entirely of typical Czech dishes. Obesity therapist, Iva Malkova, had warned at the beginning of the project: “People in the Czech Republic eat much more fat, especially animal fat than is recommended.” Pub meals in the Czech Republic often consist of such fatty items as goose with dumplings or sausages.

Yesterday the results were announced; Karel lost six kilos, his cholesterol went down and so did his liver enzymes, triglyceride and uric acid levels. His blood pressure did not change. At his interview with Radio Prague he said: “I feel good, great! The food was varied and there were even enough greens in the garnish. As for beer, I tried to alternate brands but I always settled it with Pilsner. I liked the experiment, it was all paid for by the distributor, Aerofilms. I would do it again, maybe they will propose it to me!”

Zuzana Pudilova of Aerofilms said: “The result of the experiment is surprising – both for us and the experts who monitored it. The medical report says our volunteer has lost weight and his blood sugar has dropped. So we have come to the conclusion that fatty Czech pub grub is not all that bad for you – which I guess wasn’t meant to be the result of the experiment at all.”

Sunday, May 8, 2005

In order to save the lives of seabirds, the government of New Zealand has ordered the recall from sub-Antarctic waters of the entire fleet of New Zealand’s 35 squid fishing boats. Once at port, the boats are to take on independent observers to ensure that they follow codes of practice. Violators of the new rules face a fine of up to NZ$100,000.

Fisheries Minister David Benson-Pope said that “blatant bad behaviour” on the part of the boats, flouting a voluntary code of practice set up a year ago, demanded immediate action.

An Air Force aeroplane was sent on a tour of inspection last month. Benson-Pope reported that observations from the inspection revealed that, contrary to the agreed code of practice:

• 46% of the fishing fleet were not using equipment to scare sea birds away from vessels, with a further 8% only using it intermittently.
• 30% of the fishing fleet were discharging offal (which attracts seabirds) while trawling or hauling nets, with a further 25% doing so intermittently.
• Only 30% of the fishing fleet actually complied with both mitigation and offal management requirements.

Mr Benson-Pope referred to a voluntary code of practice adopted in the tuna fishing industry which he said had reduced death of seabirds by 95%.

Wednesday, February 2, 2005

Eben Moglen, Columbia University Law Professor, will head the newSoftware Freedom Law Center (SFLC). An initial 4 million dollars has been provided by Open Source Development Labs (OSDL) to fund the project.

The law center will provide free legal service for open source projects and developers. In 2004 OSDL established a separate $10 million Linux Legal Defense Fund providing legal support for Linus Torvalds, Linux kernel creator and end user companies subjected to Linux-related litigation by the SCO Group. The new law center will not be affiliated with the OSDL.

“This is about taking care of the goose that laid the golden egg and not letting wolves come in the middle of the night and steal it away,” Moglen said during a press conference. “This is a legal firm not involved so much in litigating and defending as it will be for counseling and advising and nurturing non-profits and to prevent millions of dollars in litigation.”

Moglen will serve as chairman and director-counsel of the non-profit organization. Also on board as directors are: Lawrence Lessig, law professor at Stanford Law School; Daniel Weitzner, director of the World Wide Web Consortium‘s technology and society activities; and Diane Peters, general counsel at the OSDL. Daniel Ravicher, executive director of the Public Patent Foundation, will help manage as legal director.

Moglen, one of the world.s leading experts on copyright law as applied to software, will run the new Law Center from its headquarters in New York City. The Law Center will initially have two full-time intellectual property attorneys on staff and expects to expand to four attorneys later this year. Initial clients for the Law Center include the Free Software Foundation and the Samba Project.

Other services provided by the SFLC include: asset stewardship, to avoid intellectual property claim conflict; license review and compatibility analysis; legal consulting and lawyer training.

Monday, January 26, 2009

As the newly inaugurated Barack Obama administration continues to push for a US$825 billion stimulus package to aid the struggling United States economy, some Republican legislators say they will not vote for such a plan without the inclusion of more tax cuts and less “unnecessary” spending.

Arizona Senator John McCain, Obama’s general election opponent and a leading voice within the Republican Party, says he would not vote for the American Recovery and Reinvestment Plan as it currently stands. Appearing on Fox News Sunday yesterday, McCain echoed his campaign platform in saying, “We need to make tax cuts permanent, and we need to make a commitment that there’ll be no new taxes.”

McCain and other Republicans say they are unhappy with the bill introduced in the House of Representatives, which combines roughly $550 billion in domestic spending with $275 billion in tax cuts. McCain believes not enough Republican proposals have been integrated into the plan, which he fears will result in the plan becoming “just another spending project” rather than a job creator.

“Republicans have not been brought in, to the degree that we should be in, to these negotiations and discussions. So far, as far as I can tell, no Republican proposal has been incorporated,” McCain said. “We’re losing sight of what the stimulus is all about, and that is job creation.”

The Arizona senator is known for his bipartisan efforts in Washington, D.C., but he defined his role in the new Senate as the “loyal opposition”, which does not mean “that I or my party will be a rubber stamp” for Obama, he said.

In his first weekly address since being sworn in, President Obama explained the stimulus plan in further detail, calling it a plan to “immediately jumpstart job creation as well as long-term economic growth.” He outlined several of the bill’s priorities, including the creation or salvation of up to four million jobs, as well as sweeping investments in health care, education, energy and infrastructure.

Among these investments are a new electricity grid with more than 3,000 miles of transmission lines, the weatherization of 2.5 million homes, health insurance protection for more than 8 million Americans, a renovation of over 10,000 schools, a project to repair thousands of miles of roadways, and an expansion of broadband Internet access.

Obama also laid out the rationale behind the stimulus, saying that “unprecedented action” is necessary in order to prevent further economic distress. “Our economy could fall $1 trillion short of its full capacity, which translates into more than $12,000 in lost income for a family of four,” Obama said. “In short, if we do not act boldly and swiftly, a bad situation could become dramatically worse.”

The president addressed the skepticism surrounding the stimulus package, pledging to “root out waste, inefficiency, and unnecessary spending”, while holding the government accountable for its actions. “We won’t just throw money at our problems,” Obama said. “We’ll invest in what works.”

Still, Republicans such as House Minority Leader John Boehner are skeptical of the plan’s effectiveness in rebuilding the economy. “I think a lot of Republicans will vote no because it’s a lot of wasteful Washington spending”, he commented on Meet the Press, repeating McCain’s call for less federal spending and more tax cuts.

Examples of “wasteful” spending cited by Republicans include millions of coupons to aid in the digital television transition, $200 million for new sod on the National Mall, and $360 million to fight sexually transmitted diseases, which includes funding for contraceptives. House Republicans have claimed it will take 10 years before the economy feels the effect of a stimulus, and that the combined spending of the stimulus and the financial bailouts of last year will leave future generations with over $2 trillion of debt.

In response to the stimulus plan being pushed through Congress, Boehner and Republican Whip Eric Cantor presented Obama with an alternative stimulus plan on Friday, one that relies exclusively on income and business tax cuts. “Our plan offers fast-acting tax relief, not slow-moving and wasteful government spending,” Boehner said. The counterproposal includes an income tax reduction that would save families an estimated $3,200 a year.

Despite this opposition, the stimulus bill is expected to pass through Congress by mid-February, as the Republican minority does not have enough votes to stop its approval. Senate Minority Leader Mitch McConnell expressed a general support of the plan at a White House meeting with Obama and other congressional leaders. “I do think we’ll be able to meet the president’s deadline of getting the package to him by mid-February,” McConnell said. The bill is expected to go before Congress for a vote on Monday, February 2.

Obama’s top economic adviser Lawrence Summers defended the stimulus plan while on Meet the Press. He said the bill was intended to balance the long-term initiatives mentioned above with the tax cuts desired by Republicans. He also said Obama was committed to spending three quarters of the stimulus money within 18 months.