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Anti-junta demonstrations grow in Bangkok

Monday, June 11, 2007

Anti-junta demonstrations in Bangkok reached their largest point yet on Saturday night, when between 10,000 and 15,000 protesters marched from Sanam Luang to the Royal Thai Army headquarters to call for the resignation of Council for National Security chairman General Sonthi Boonyaratglin.

Yesterday, Sonthi, the leader of last year’s coup d’état, rejected the protesters demands, saying he would remain as chairman of the military’s governing body in the best interests of Thailand, and that he wasn’t doing the job for personal gain.

“And I doubt the motives of these people who are organizing the rallies,” Sonthi was quoted as saying by The Nation newspaper.

The demonstrations continued yesterday, albeit smaller, with crowds estimated at 3,000. The organizer is People’s Television (PTV), a satellite television station that supports ousted prime minister Thaksin Shinawatra. Organizers have vowed to continue the demonstrations until the junta gives up power.

The protest movement has grown over the past two weeks, after the junta partially lifted the ban on political activities, and since a Constitutional Tribunal ruling that dissolved the former ruling Thai Rak Thai party, which was led by Thaksin, and banned 111 of the party’s officials from politics for five years.

The government has tolerated the protests, if only just barely. Text messages were sent out by the junta to mobile-phone subscribers, asking them to stay away from the protests. Police have surrounded the demonstration venue, Sanam Luang, an open field near the Royal Palace in Bangkok, an in effort to keep the demonstration contained.

But Saturday night, the 1,000-strong riot force, using only shields and no other weapons, was unable to keep the crowd, estimated at up to 15,000, in place. “We could not repel them and that has to be fixed,” Manit Wongsomboon, commander of Metropolitan Police district 1, was quoted as saying by the Bangkok Post.

Sonthi said he did not view the situation as serious or see a need to impose a state of emergency.

“There is nothing to worry about, they [protestors] can come, but everything will be within the rule of law,” he was quoted as saying by the Thai News Agency.

General Pongthep Thetprateep, spokesman for interim Prime Minister Surayud Chulanont, said the premier agrees.

“The PM is following the situation closely. No one wants to impose a state of emergency. It is the last resort. If they do not listen and assault officials and destroy things then it may be necessary. There is a better way out right now,” Pongthep was quoted as saying by The Nation.

Surayud, the head of the military-installed government, yesterday appealed for acceptance of the Thai Rak Thai’s dissolution by the public. He said several major policies implemented by the populist government of Thaksin would continue, including a low-cost medical scheme.

“We must thank the Thai Rak Thai party for creating and implementing projects which benefit poor people, but at the same time we must accept the verdict of the Constitution Tribunal on dissolving this party because it had committed several political blunders,” Surayud said in an address on television and radio.

Surayud had harsh criticism for Thaksin.

“The rule of law came under fierce attack from the powerful, the rich and cronies. Corruption washed through our government,” Surayud said. “Even Thaksin accepted that this was the case when he told Time magazine’s readers around the world a few months ago that ‘corruption in Thailand won’t go away, it’s in the system’. What shameful words for any ex-prime minister of our country to say, especially one who had promised to wage a war against corruption.

“I would like to ask you this: Do we want to allow those people with ill intentions to steal our nation’s wealth day-by-day? I don’t think we do.”

At the Sanam Luang rally on Saturday night, former senator Kraisak Choonhaven was attacked by around 70 demonstrators.

“You are not on our side. Go away,” one of the demonstrators shouted at Kraisak, according to a report in today’s Bangkok Post, which also published photos of the attack, showing one demonstrator launching a flying kick at the senator as he was rushed away by aides. The senator, a critic of ousted premier Thaksin, received some bruises.

“This is the rudest demonstration I’ve ever seen,” Kraisak was quoted as saying at a press conference by the Post. “Crowd control police had to exercise extreme patience in dealing with such a misbehaved mob.”

A new constitution, which the Constitutional Drafting Assembly began debating today, is being drawn up. One of the provisions of the draft charter is that once it is enacted, the Council for National Security will be no more.

The drafting assembly, which has been fractious, must approve or reject the draft in 25 days. If the draft is approved, a national referendum, scheduled to be held in mid-August, will be held. If the draft is rejected, the Council for National Security could choose a an old constitution. Most likely, that would be an amended form of the 1997 “people’s constitution,” a military spokesman was quoted as saying on Radio Thailand by the Bangkok Post.

Among the controversial points in the draft charter, is a provision to make Buddhism the state religion, a move that critics say could further galvanize Muslim insurgents in southern Thailand.

The drafting body disagreed on motions about Buddhism and the creation of a national crisis council, and the motions were dropped.

As the constitutional assembly begins, a hunger strike is taking place by Buddhist monks outside Parliament House.

The Constitutional Drafting Assembly chairman, Noranit Sethabutr, told the Thai News Agency that the body “would have to find the best and most peaceful way to push through the draft.”

In the wake of the dissolution of the Thai Rak Thai, a new anti-junta party has formed, with around 60 former Thai Rak Thai lawmakers as leaders.

The movement has been referred to by various names, including Khon Rak Thaksin Mai Oaw Padejkarn (Supporters of Thaksin Against Dictatorship) or literally, “Love Thaksin, No Dictatorship,” or simply, Democratic Alliance Against Dictatorship.

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Opening race of 2014 F1 season brings ‘fascination’

Monday, March 17, 2014

Nico Rosberg won the opening race of this year’s Formula 1 season in Australia yesterday. TV commentators spoke of “fascination throughout the field” as big names retired and new names proved themselves.

Former champion Lewis Hamilton qualified on pole but problems were evident by the second lap when he received a team radio message telling him “we need to retire… save the engine, save the engine!” Another followed rapidly, however, telling him to “just stay out, stay out, just keep on rolling”. Hamilton left the race on the fourth lap.

Reigning champion Sebastian Vettel did not fare much better, having only qualified twelfth, with engine woes of his own. He too quit the race in the early stages, staying behind to watch the race and, according to commentator and retired Scottish F1 racer David Coulthard, learn what he could from the sidelines.

Vettel and Hamilton were not the only stars retiring early. Veteran racer Felipe Massa was rammed from behind by Kobiashi’s Caterham, sending both cars out and prompting deployment of yellow flags for several laps while the debris was recovered. The crash was triggered by Kobiashi clipping Kimi Raikkonen, damaging the front of Kobiashi’s car. Raikkonen stayed in the race and managed to finish eighth. The first ten cars over the finish line score points towards both the driver’s and constructor’s championships.

I apologise to Felipe

Coulthard and fellow commentators believe Kobiashi, who took responsibility for the accident, may receive points on his racer’s licence in a new system to deal with transgressions introduced this year. Kobiashi called the crash “My mistake[… I] should have braked earlier, and I apologise to Felipe”. Massa said Kobiashi “cannot do a start like that, every time” he does so will lead to an accident.

More drama followed shortly after when Valteri Bottas clipped a wall on lap 10, breaking the rim of his back-right wheel. The rim was left on the track, followed shortly thereafter by the tyre off the wheel. The safety car was deployed for several laps until the debris was recovered. Despite the setback Bottas climbed back up the standings and finished in sixth place.

Many drivers, including cars at the front of the pack, took advantage of the safety car period to do pit stops. Some are now considering using less fuel than the maximum allowance in a move the FIA never expected technologically possible when drafting the rules several years ago.

It was a day for débutantes at Albert Park, a street circuit where racing took place in close proximity to busy public roads. Newcomer Kevin Magnussen scored third place on his first F1 race, while fellow rookie Daniil Kvyat came in tenth and became the youngest-ever F1 points scorer. Kvyat takes the record from Vettel by several months while Magnussen becomes the first Dane on an F1 podium.

[it is] such a pleasure to have such a fast car

Not every débutante was so lucky; Caterham driver Marcus Eriksson dropped out of his first race after being radioed “Stop the car, stop the car, engine oil pressure”. Established racers Pastor Maldonado and Romain Grosjean, both Lotus drivers, also stopped with technical trouble. All three cars pulled up at the side of the track on different laps, each triggering yellow flags. Despite the retirements, fourteen cars finished which was more than some commentators were expecting.

Hamilton was upbeat about his retirement, saying “It’s tough for everyone but that’s the way it is” and adding “We’re not the only ones [to have difficulties]”. Vettel was more pessimistic, claiming this is “going to be a long season”. Asked about the cause of his engine troubles, Hamilton said “One of the cylinders, I think, was not firing”.

The race was unusual from start to finish, having been shortened by one lap after the first start was aborted by amber lights instead of just green. The end is more controversial; home driver Daniel Ricciardo scored his first-ever Australian Grand Prix podium finish in second place but was later disqualified for an alleged breach of fuel regulations. Ricciardo had been the first Australian driver to stand on the podium in his home country since Formula 1 brought the event into the championship format used today.

His disqualification is not final, however. His team, Red Bull, have vowed to appeal. If the appeal fails all the drivers below him move up one position, meaning first-time entrant Magnussen will have come in second place and Kvyat will be ninth. That would see Sergio Perez score a point for Force India by moving into tenth. Perez’s race was hampered early by a puncture picked up in the opening lap.

I’m really proud of what I did today. There are more positives than negatives

Ricciardo was reported to the stewards by technical delegate Jo Bauer who claimed his car “exceeded consistently the maximum allowed fuel flow of 100kg/h”. 100kg is also the maximum fuel allowed on board cars, a new limit set for this season. The fuel flow rule is also new this year; F1 cars averaged about 170kg/h last year.

Ricciardo was disqualified after five hours of steward deliberations. Red Bull have hit back with a statement saying many teams have found the FIA’s fuel flow meter to be faulty. They say they are “confident the fuel supplied to the engine is in full compliance with the regulations.” Today Andrew Westacott, chief executive of the Australian Grand Prix, said the appeal outcome may not be known for weeks.

Prior to Ricciardo’s disqualification, the remaining point-scorers were Jensen Button in fourth, Fernando Alonso in fifth, Nico Hulkenberg in seventh, and Jean-Eric Vergne in ninth.

Racers and fuel rules were not the only things fresh for this race. Williams are on the back of their worst-ever season and have changed their livery to brighter, whiter cars. Another new innovation is the introduction of red lights on the rear of cars that blink when the vehicle is not using electricity, warning the car behind of possible deceleration. F1 cars also now sport hybrid turbo engines.

Rosberg, speaking after what is his first Australian victory, said it is “Such a pleasure to have such a fast car.” He came a full 24 seconds ahead of Ricciardo. It is also the hundredth victory by an F1 car powered by a Mercedes engine.

“Whatever the outcome I’m really proud of what I did today”, Ricciardo said as he awaited the stewards’ disqualification decision. “There are more positives than negatives”.

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Looted, possibly contaminated body parts transplanted into USA, Canadian patients

Monday, March 20, 2006

Fears of contaminated bone and skin grafts are being felt by unsuspecting patients following the revelation that funeral homes may have been looting corpses.

Janet Evans of Marion Ohio was told by her surgeon, “The bone grafts you got might have been contaminated”. She reacted with shock, “I was flabbergasted because I didn’t even know what he was talking about. I didn’t know I got a bone graft until I got this call. I just thought they put in screws and rods.”

The body of Alistair Cooke, the former host of “Masterpiece Theatre,” was supposedly looted along with more than 1,000 others, according to two law enforcement officials close to the case. The tissue taken was typically skin, bone and tendon, which was then sold for use in procedures such as dental implants and hip replacements. According to authorities, millions of dollars were made by selling the body parts to companies for use in operations done at hospitals and clinics in the United States and Canada.

A New Jersey company, Biomedical Tissue Services, has reportedly been taking body parts from funeral homes across Brooklyn, New York. According to ABC News, they set up rooms like a “surgical suite.” After they took the bones, they replaced them with PVC pipe. This was purportedly done by stealth, without approval of the deceased person or the next of kin. 1,077 bodies were involved, say prosecuters.

Investagators say a former dentist, Michael Mastromarino, is behind the operation. Biomedical was considered one of the “hottest procurement companies in the country,” raking in close to $5 million. Eventually, people became worried: “Can the donors be trusted?” A tissue processing company called LifeCell answered no, and issued a recall on all their tissue.

Cooke’s daughter, Susan Cooke Kittredge, said, “To know his bones were sold was one thing, but to see him standing truncated before me is another entirely.” Now thousands of people around the country are receiving letters warning that they should be tested for infectious diseases like HIV or hepatitis. On February 23, the Brooklyn District Attorney indicted Mastromarino and three others. They are charged with 122 felony counts, including forgery and bodysnatching.

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Welsh University announces intelligent robot conducting biology experiments

Sunday, April 5, 2009

Adam is a robot developed by Welsh Aberystwyth University researchers which combines artificial intelligence (AI), robotics and automation to independently conduct and analyse biological laboratory research.

“What’s new and exciting about Adam is [it is] the first time we’ve managed to show that a computer can not only think up new scientific ideas, but experimentally test them and decide whether they’re true,” said Ross King, a computer science professor and lead researcher at Aberystwyth University, “Adam makes up its own mind what to do. It decides what experiments to do, what to test.” He says that for other lab experiments the hardware is already in place, the only step needed is to change the software.

The artificial intelligence alone spans three computers which holds the databases and analytical software to enable Adam to think. For the yeast experiment, Adam was loaded with databases which hold known information relating to yeasts and organisms. Adam compared all fields in the database to find the areas of missing information from which he devised 20 hypotheses.

Adam’s AI is connected to robotic arms, sensors, incubators and cameras which enable Adam to start over 1,000 individual experiments every day and follow their progress over a week.

A part of the process is that Adam’s AI can cycle and analyze the results of the experiments as well doing routine repetitious lab work. Following Adam’s testing, King’s team manually tested three of Adam’s hypotheses and found that the robot’s conclusions were correct, and each was a breakthrough to the scientific community.

Adam has spawned discussion amongst researchers. William Melek, an assistant professor of mechanical engineering at Ontario’s University of Waterloo, has noted that to set up the AI needed for subsequent experiments involving new biological variables and criteria, the human expertise would be time consuming to customize it. The usefulness would be limited therefore to the allotment of human input needed to set up Adam.

David Waltz of Columbia University and Bruce Buchanan of the University of Pittsburgh say that “For the foreseeable future, the prospect of using automated systems as assistants holds vast promise as these assistants are becoming not only faster but much broader in their capabilities — more knowledgeable, more creative, and more self-reflective,” They note the potential of such lab assistants which may more efficiently process the research data.

It was reported that Adam cost about $1million in production costs and this was weighed against the costs of hiring lab techs. King said, We made many mistakes and learned from Adam. Eve is a much cleaner design.”

Eve is the second AI computer under development by Professor King’s research team. Eve’s artificial intelligence will be enhanced to analyze compounds needed for medicinal drugs which may treat killer diseases such as malaria.

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Plastic Surgery Procedures That Are Performed To Ensure The Best Results}

Plastic Surgery – Procedures That Are Performed To Ensure The Best Results

by

Jonathan A PetersWith the advancement in technology, many people have found out that they have the choice to fix parts of their bodies that they are not happy with. Sometimes all it takes is a simple non invasive outpatient procedure and you are good to go. Today, both men and women of all ages are requesting plastic surgery to improve their appearance. Men may in particular seek for a rejuvenated face, a balanced nose, or a trimmer waistline while women on the other hand, prefer facelifts and breast augmentation surgery.The following are examples of common plastic surgery procedures:Liposuction proceduresThe ideal body shape for men is considered trim, with an athletic looking broad chest and shoulders, a narrow hip and thigh area, and a flat abdomen. However, as the men grow older, fat accumulates around the breast area, abdomen, the flanks and along the neck and chin. Therefore, many men go for liposuction to get rid of the fatty areas that often prove resistant to exercise and diet. Men who have loose hanging skin and areas of excess fat can opt for the more traditional excision procedures, in addition to the liposuction procedures.Any man who has hanging abdominal skin, neglected hernia or loose abdominal muscles may select a tummy tuck or a full abdominoplasty. The surgical procedure helps in removing excess fat and tightens the abdominal wall muscles. Men with good skin elasticity featuring moderate levels of abdominal fat can benefit greatly from the liposuction alone.Facelift surgeryFor any woman who is bothered by the signs of aging on her face, facelift surgery can be her way out. It is also known as rhytidectomy. The facelift surgical procedures help to eliminate signs of aging on the neck and the face, such as: Mid-face sagging Deep creases on the lower eyelids Deep creases on the nose that extend to the mouth corners Fat that is displaced Excess fatty deposits and loose skin under the jaw and chin that makes persons with normal weight to appear as if they have double chins Loss of the tone of muscles along the lower face that may create jowlsA facelift is a restorative surgical procedure that does not change the fundamental appearance of an individual. Furthermore, it does not stop the aging process. Therefore, a facelift is performed surgically because non-surgical rejuvenation procedures do not achieve good results. The procedure is good for: For persons who are physically healthy For persons who do not smoke For persons who have specific and positive outlook including realistic goals that can help improve their appearance.With the advancement in technology, many people have found out that they have the choice to fix parts of their bodies that they are not happy with. Sometimes all it takes is a simple non invasive outpatient procedure and you are good to go. Today, both men and women of all ages are requesting plastic surgery to improve their appearance. Men may in particular seek for a rejuvenated face, a balanced nose, or a trimmer waistline while women on the other hand, prefer facelifts and breast augmentation surgery.The following are examples of common plastic surgery procedures:Liposuction proceduresThe ideal body shape for men is considered trim, with an athletic looking broad chest and shoulders, a narrow hip and thigh area, and a flat abdomen. However, as the men grow older, fat accumulates around the breast area, abdomen, the flanks and along the neck and chin. Therefore, many men go for liposuction to get rid of the fatty areas that often prove resistant to exercise and diet. Men who have loose hanging skin and areas of excess fat can opt for the more traditional excision procedures, in addition to the liposuction procedures.

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[youtube]http://www.youtube.com/watch?v=8XYgt0S6Ql0[/youtube]

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Spelbound declared winner of Britain’s Got Talent 2010

Monday, June 7, 2010

An acrobatic group known by the name of Spelbound has been declared as the winner of Britain’s Got Talent 2010, a televised variety talent show competition broadcast on ITV in the United Kingdom. As the winning act of the show, Spelbound have won £100,000 (US$144,580, €120,313, A$175,079) and a place at The Royal Variety Performance, an annual gala evening that is attended by senior members of the British Royal Family.

In no particular order, the top three acts were revealed to be two dancers known by their stage name of Twist and Pulse, gymnastic group Spelbound and Kieran Gaffney, whose act involves playing on the drum kit. After Kieran Gaffney was revealed to be in third place, Anthony McPartlin, who hosts Britain’s Got Talent with Declan Donnelly, said to Kieran: “Well done Kieran. Kieran, you’re a star, you came back, you got all the way to the final. I know you’ve loved this. You’ve loved this, haven’t you?” In response to this, Kieran Gaffney stated: “Thank you very much. Thank you, everyone for supporting me. Thank you.”

Shortly afterwards, on the episode that was broadcast live on ITV1 on Saturday, Anthony announced: “After tens of thousands of auditons, five semi-finals and an amazing final, this…this is it. One of you is about to walk away with £100,000 and a place at this year’s Royal Variety Performance. The winner of Britain’s Got Talent 2010 is…Spelbound!” Glen Murphy from Twist and Pulse commented about finishing in second place, stating: “Yeah, it’s amazing. I can’t even believe it. I can’t believe it at all.”

Alex Uttley, a 24-year-old member of Spelbound, commented on the gymnastic group’s victory, commenting: “Oh, my god. This is unbelieveable. We just want to say thank you to everyone out there. It just shows that all our hard work has paid off.” One of the coaches of Spelbound, named Neil Griffiths, stated about Spelbound: “Oh, they’ve worked so hard over the last few weeks. Um, since the semi-final, we…we really had to pull out the stops to try and up the game. They’ve not known they’ve worked in the gym from six in the morning till twelve…twelve o’clock of the night. I couldn’t have asked for more. Um, it’s a team of coaches. I don’t take all the credit myself. There’s, uh, two people up there that know who they are who’ve been fantastic.”

Spelbound consists of 24-year-old Alex Uttley, Nicholas Illingworth, aged 24, Adam Buckingham, aged 21, 20-year-old Adam McAssey, 19-year-old Douglas Fordyce, 18-year-old Edward Upcott, 18-year-old Leighanne Cowler, 17-year-old Katie Axten, 17-year-old Lauren Kemp, 15-year-old Jonathan Stranks, Abigail Ralph, aged 15, 13-year-old Hollianne Wood and Amy Mackenzie, aged 12. Bookmakers had previously predicted that Spelbound would be the most likely act to become the winner of the series.

The running order for the final started with Twist and Pulse. The second act to perform was Liam McNally, a 14-year-old singer. The running order subsequently continued with 40-year-old impressionist Paul Burling, singer Christopher Stone, aged 28, Tina & Chandi, a woman and dog dancing act, Connected, a five-piece singing group, Kieran Gaffney, aged 12, 22-year-old Tobias Mead, a dancer, 80-year-old singer Janey Cutler and Spelbound in that particular order.

Earlier on in the final, Britain’s Got Talent judge Amanda Holden has stated to Spelbound: “We are hosting the 2012 Olympics and I think ‘what a brilliant opening act’.” Fellow judge Piers Morgan also commented that “[t]he purpose of this show is to identify hidden great British talent. You are that act.” After Spelbound won in the final, another judge, named Simon Cowell, stated that “the right boys and girls won on the night” and that he could “only say on live TV that that was one of the most astonishing things I have ever seen. Seriously.”

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What Is A Learning Disability?}

What is a Learning Disability?

by

Wendy Greif

Learning and behavioral disabilities have an adverse affect on the lives of millions of children. According to the data I have researched, one in five children in the United States suffers from a learning disability. Many of them have more then one learning disability. But, of course, not all learning problems are necessarily learning disabilities. Some children naturally learn slower then other children. The question is, how does one tell the difference between a slow learner and a child with a learning disability?

[youtube]http://www.youtube.com/watch?v=lN05UfmIAh4[/youtube]

Learning disabilities cover a broad range that include problems with speech, language, reading, mathematics, concentration and reasoning. Until recently, learning disabilities were not well defined, poorly understood and often placed in other categories. Research in the last 20 years or so, has been delving into the underlying issues involved in various learning disabilities. The use of medications, various forms of therapy and assistive technology has also helped in the treatment and understanding of learning disabilities.Specific learning disability is defined as – a disorder in one or more of the basic psychological processes involved in understanding or in using language, spoken or written, which disorder may manifest in imperfect ability to listen, think, speak, read, write, spell, or do mathematical calculations (according to IDEA of 1997 -PL 105-17).Specific learning disability includes such conditions as perceptual handicaps, brain injury, minimal brain dysfunction, dyslexia, and developmental aphasia; to name a few. It does not include children whose conditions are primarily caused by visual, hearing, or motor problems, mental retardation, emotional disturbance, or due to environmental, cultural, or economic disadvantage. During the development of the brain and spinal cord, a child is most at risk of any number of malformations. These malformations may contribute to any number of developmental disabilities, including but not limited to language skills, social-adaptive skills, gross motor development and fine motor development. Doctors continue to research and study the brain and how it functions in children and adults with learning disabilities.Let’s briefly define a view of the more prevalent learning disabilities.Dyslexia – the impaired ability to read, spell and write words, despite the ability to see and recognize words. Affects approximately 8% of the population. Often accompanied by strengths in areas such as creativity or physical coordination. Can be a slight problem to a very severe problem.Dyscalculia – the inability to apply mathematical concepts, functions, and procedures. It affects between 2 and 6% of the children in the USA. Poor mental math ability, often with problems in using money.Attention Deficit Hyperactive Disorder (ADHD) – this includes hyperactivity, impulsivity and inattention. Children who are hyperactive tend to be restless and are constantly in motion. Those who are impulsive will say or do whatever is on their mind. They act before they think. Between 3 to 5% of school aged children have ADHD. It is believed that there are several factors for the cause of ADHD, including genetic problems, abnormal brain structure, or low levels of certain brain chemicals. Up to 4% of these children will continue to have problems with ADHD into adulthood.Attention Deficit Disorder (ADD) – difficulty focusing and maintaining attention.

Wendy Greif is a mother and graduate of USF in Special Education. She has taught children with various disabilities in both South Carolina and Florida. Mrs. Greif operates an informational website for parents and caregivers of children and/or adults with special needs ( http://www.specialneedschildrenandadults.com ).

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What is a Learning Disability?}

US unemployment rate reaches 9.8%

Friday, October 2, 2009

Companies in the United States are shedding more jobs, pushing the country’s unemployment rate to a 26-year high of 9.8%.

The US Labor Department said on Friday that employers cut 263,000 jobs in September, with companies in the service industries — including banks, restaurants and retailers — hit especially hard. This is the 21st consecutive month of job losses in the country.

The United States has now lost 7.2 million jobs since the recession officially began in December 2007. The new data has sparked fears that unemployment could threaten an economic recovery. Top US officials have warned that any recovery would be slow and uneven, and some have predicted the unemployment rate will top 10% before the situation improves.

“Continued household deleveraging and rising unemployment may weigh more on consumption than forecast, and accelerating corporate and commercial property defaults could slow the improvement in financial conditions,” read a report by the International Monetary Fund’s World Economic Outlook, predicting that unemployment will average 10.1% by next year and not go back down to five percent until 2014.

Mark Zandi, chief economist at Moody’s Economy.com, said that “it’s a very fragile and tentative recovery. Policy makers need to do more.”

“The number came in weaker than expected. We saw a lot of artificial involvement by the government to prop up the markets, and now that that is starting to end, the private sector isn’t yet showing signs of life,” said Kevin Caron, a market strategist for Stifel, Nicolaus & Co.

Also on Thursday, the US Commerce Department said factory orders fell for the first time in five months, dropping eight-tenths of a percent in August. Orders for durable goods — items intended to last several years (including everything from appliances to airliners) — fell 2.6%, the largest drop since January of this year.

The US government has been spending billions of dollars — part of a $787 billion stimulus package — to help spark economic growth. There have been some signs the economy is improving.

The Commerce Department said on Thursday that spending on home construction jumped in August for its biggest increase in 16 years. A real estate trade group, the National Association of Realtors, said pending sales of previously owned homes rose more than 12 percent in August, compared to August 2008.

A separate Commerce Department report said that consumer spending, which accounts for more than two-thirds of US economic activity, rose at its fastest pace in nearly eight years, jumping 1.3 percent in August.

Other reports have provided cause for concern. A banking industry trade group said Thursday the number of US consumers making late payments, or failing to make payments, on loans and credit cards is on the rise. A survey by a business group, the Institute for Supply Management, Thursday showed US manufacturing grew in September, but at a slower pace than in August when manufacturing increased for the first time in a year and a half.

Stock markets reacted negatively to the reports. The Dow Jones Industrial Average fell 41 points in early trading, reaching a level of 9467. This follows a drop of 203 points on Thursday, its largest loss in a single day since July. The London FTSE index fell 55 points, or 1.1%, to reach 4993 points by 15.00 local time.

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GM posts first annual loss since 1992

Friday, January 27, 2006

General Motors Corporation (GM) has posted its first annual loss since 1992. GM reported losing US$4.8 billion in the fourth quarter of 2005 and a total loss of $8.6 billion for the entire year.

GM admitted Thursday night that the loss could swell further as it pays pensions and healthcare costs to thousands of former workers. GM warned that the amount calculated for last year is preliminary and could rise before it is officially reported to the US securities and exchanges commission in March.

The loss was far greater than analysts predicted. Ford, the second of the big three American car manufacturers, beat predictions earlier in the week. In contrast, Toyota is expected to report that it will beat last year’s profit of $11 billion.

GM’s automotive division lost $1.5 billion in the fourth quarter, driven by losses in North America. This has been attributed to GM’s shrinking market share, which has been taken by Japanese manufacturers Toyota and Nissan.

A further $1.3 billion was lost in restructuring charges. As part of the restructure, GM plans to cut 30,000 jobs and close 12 facilities by 2008.

An aide for Kirk Kerkorian, GMs largest individual investor (at 9.9%), has called on the company to halve its $1.1 billion annual dividend, cut executive pay and sell Saab.

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