May 17 2012

Abbott surprised by Palmer’s LNP bid

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Mining magnate Clive Palmer will have to run the normal preselection gauntlet to become the Liberal National Party's (LNP) candidate in federal Treasurer Wayne Swan's Queensland seat.

The mining billionaire announced on Monday he would seek LNP preselection for the Brisbane seat of Lilley, which Mr Swan holds for Labor on a margin of 3.2 per cent.

“I was as surprised as everyone else at the announcement today,” Opposition Leader Tony Abbott told reporters on Monday.

“Clive Palmer, like millions and millions of other Australians Where to buy windows 7 key, is desperate to see a bad government gone.

“But like everyone else who wants to run for the LNP, I'm afraid he's got to run the gauntlet of a very testing preselection process.”

Mr Abbott urged the LNP to pick the “right candidate” for that seat and every other Queensland seat.

The electorate of Lilley needed someone who would do the hard yards Server 2008 Key, knocking on doors, going to shopping centres and talking to local newspapers Windows 7 Key, Mr Abbott said.

“We need a grassroots candidate and I'm confident that that's what will be delivered.”

Asked about some of Mr Palmer's more colourful statements, Mr Abbott said only: “Clive's a character.”

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May 17 2012

JPMorgan trading loss a credit negative Moody’s

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NEW YORK (Reuters) – Moody’s Investors Service on Monday said JPMorgan Chase & Co’s $2 billion trading loss announced last week is a negative development for the bank’s bondholders. replica watches

JPMorgan’s credit rating of Aa3, firmly ensconced in investment grade territory, is on review for downgrade replica watches, along with other major global financial institutions and Western European banks.

“This development is credit negative” for JPMorgan bondholders, Moody’s said. “This nasty surprise from one of the better managed banks once again highlights the opacity of the risks of global investment banks replica watches, as well as the difficulty of controlling these risks,” Moody’s analyst Peter Nerby wrote in the firm’s Weekly Credit Outlook report.

On Thursday the bank disclosed the $2 billion trading loss, citing a failed hedging strategy. This development will be included in its current rating review, but in itself does not mark any change to its current status.

(Reporting By Daniel Bases; Editing by Padraic Cassidy)

Related Quotes and News Company Price Related News

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May 17 2012

Ghanaian Oil Only for the 1 Percent

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In 2007, substantial oil deposits were discovered in the Jubilee field off the coast of Ghana’s Western Region, and production began in 2010. As a result, Sekondi-Takoradi, the region’s coastal capital, has gained new prominence in a country whose most high-profile urban center has generally been the national capital of Accra. There is already unmanageable congestion at Takoradi Harbor.

During my visit to Ghana in March 2012, I was eager to assess the mood of the country in light of its much-touted new oil industry. The initial euphoria over the discovery of petroleum has clearly waned, giving way to widespread skepticism and lowered expectations among both the press and the public at large.

With a fatalistic shrug, one taxi-driver told me that “it won’t make any difference” to ordinary people.

Rumors and Innuendo

This cynicism has been abetted by accusations of impropriety, creditable and otherwise Tattoo Case Box, leveled at the multinational petroleum companies operating in Ghana. The challenge is telling which is which.

For example, there are a number of conspiracy theories about why the level of oil production from the Jubilee field, originally projected at 120,000 barrels per day (bpd), reached a peak of only about 70,000 bpd in 2011. One claim I heard is that the oil companies really are producing the target amount, or even more, but are using an “incorrect” manometer that understates the actual amount. The 50,000 bpd difference is “sold on the side” to some secret buyer somewhere and the oil executives pocket the money. However, journalists and oil engineers I spoke to thoroughly discounted this scenario. The logistics alone of getting several partner companies to conspire to carry out such a fraud would be well nigh unworkable.

As a drilling supervisor explained to me, the shortfall doesn’t stem from anything quite that nefarious. Rather, the problem probably has to do with a flaw in the design of the screen and proppant that goes into a well bore to prevent sand and rock from contaminating the extracted crude oil. The technical glitch is beyond the scope of this article, but some observers believe it might have been avoided if the Jubilee field had been less fast-tracked than it was. In other words, the rapid development of the Jubilee field may now be showing its downsides.

Rumors and innuendo about Ghana’s oil industry proliferate because the industry lacks transparency Tattoo Guns Kits, which is at least in part a reflection of the Ghanaian government’s insufficient oversight. For some time, the government-owned oil company, Ghana National Petroleum Corporation (GNPC) — which is a carried interest partner with private multinationals like Tullow, Anadarko, and Kosmos — also acted as a regulator. The Petroleum Commission Act passed in June 2011 was designed to obviate the potential conflicts of interest that could arise from such an arrangement.

Where Are the Jobs?

Although the Ghanaian government has stated that it wants to see 90 percent of all oil jobs going to Ghanaians by 2020, it has fallen short of producing a local content bill in parliament, leaving oil companies with considerable leeway to contract any entity of their choosing. One company was reportedly importing bread, baked beans, carrots, corn, and other items from other countries (including neighboring Côte d’Ivoire) to feed its employees. And according to award-winning Takoradi journalist Kwaku Owusu-Peprah, Ghanaian Airline Antrak Air was passed over in favor of the European company NHV. Ironically, on occasions when NHV has had difficulties filling Tullow’s schedule requirements, it has asked Antrak for assistance.

Clearly, Ghana’s local supply industry cannot be carved out of the deal and excluded. On the other hand, if there are deficient areas, then both government and private enterprise need to step up their efforts to satisfy the consumption requirements of the oil companies.

But where Ghana’s oil industry has failed to stimulate some sectors of the economy, it has actively menaced others. For example, the nets of Ghanaian fishermen can become snagged on the rigs and sea floor installations, causing considerable hazards. For that reason, a 500-meter prohibited zone has been imposed around oil facilities and vessels at sea. If fishermen breach this boundary, they risk running afoul of regulations imposed by the Ghanaian navy, whose fishery protection vessels are on standby in the vicinity of oil installations and vessels.

Understandably, Ghanaian fishermen feel that their government is not on their side, pointing to the absence of protections for their livelihood. There is no government plan or fund in place to compensate fishermen in the event of an oil spill, which has apparently already occurred at least once.

Fishermen foster considerable animosity toward the petroleum industry, not least because of a number of collisions between fishing canoes and supply vessels. They also assert that oilrigs deprive them of large catches at night, when fish swarm to the bright lights of the rigs. They maintain that the decreased fish yields recorded since 2007 are due directly to offshore oil exploration and production. With the inevitable proliferation of more oil installations in the Gulf of Guinea, the fishing community worries that an overwhelming number of new restricted areas will proliferate. These fishermen ask with more than a little irony if there will be fishing zones established that are off-limits to oil companies.

In drawing attention to the threat of oil exploration and production to their livelihoods, these fishermen invoke the larger question of how ready Ghana is to manage the environmental challenges of this notoriously dangerous and polluting industry.

Fear and Suspicion

As Ghana feels its way along the path of oil production, a mood of fear and suspicion pervades a broad cross section of the Ghanaian citizenry that the deck is stacked against them. Like the cab driver above, they believe that oil prosperity will accrue Professional Tattoo Machines, both now and in the future, to a tiny minority that includes petroleum CEOs, expatriate employees, and well-connected ministers of government — a coterie too exclusive even to constitute the 1 percent.

Will Ghana’s newest industry, then, precipitate the world’s next Occupy movement?

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May 17 2012

Big Government, Better-Off Kids

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Dhaija Smith, 4,  finishes her milk during breakfast with her classmates at the Brown E. Moore Head Start Center in Shreveport, La.

Photograph by Mario Villafuerte/Getty Images.

In this time of taking a knife to state and federal budgets, big cuts in government funding for children are in process or on the way. In particular, many states have slashed funds for preschool and after-school programs, and Congress is considering more.

To deal with deficits, some of these kinds of cuts may be necessary. But lest they move recklessly, legislators should think carefully about which government investments have helped kids most and why. The often-overlooked history is that children are better off today than they were 30 years ago, measured by the four yardsticks that are critical to adult success—educational attainment, criminal behavior, teen births, and alcohol and drug abuse. Take a look at this chart:

Births to teenage mothers have fallen by more than 25 percent since 1980 because of a decline in teen pregnancies (there has been no increase in the abortion rate for young women). The violent crime rate for teenagers has fallen 15 percent since 1980 (and has declined more than 50 percent from its peak in the mid-1990s). Binge drinking among youth declined by almost half and drug use by one-third from 1980 to 2010. Meanwhile, educational attainment is up. According to the U.S. Department of Education, the graduation rate for the high-school class of 1980 was 71.5 percent. In 2010, the graduation rate was 75.6 percent. All of these outcomes have improved despite waves of immigration, higher graduation standards, the inclusion of more children with learning disabilities in schools, and the well-known increase in single-parent families.

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Thus, there is real cause for celebration. The breadth of the good news is often missed, however, because analysts generally have focused too narrowly, looking only at a single outcome and at programs that target teenagers, instead of taking into account the impact of the government’s increased investment Damascus Steel Tattoo Machines, beginning in the 1960s, in programs for pregnant women and young children. For example, economist Janet Currie reports that participation in WIC, a federal program that provides food to pregnant women, greatly decreases the likelihood that they will give birth prematurely or have a low-birth-weight infant—two factors that influence children’s cognitive development and school performance. And as Nobel economist James Heckman has gotten a lot of attention for showing, early childhood programs can help set good patterns for the future. For example, long-term follow-ups of children who received intensive services through the Old’s Nurse Home Visitor program, the Abecedarian Childcare and Home Visit program, the Perry Preschool, and the Chicago Parent and Child Centers all found that the young children in these programs were much less likely to have a child as a teen or to be delinquent, compared with children like them who were not in these programs.

While very few children have participated in intensive programs like these, studies of Head Start, which began supporting millions of children in the 1960s and ’70s, also find long-term effects. Although the evidence is mixed with respect to whether participation in Head Start produces long-term cognitive gains Professional Tattoo Machine, other research by Currie shows that children who attended Head Start were more likely to graduate from high school and attend college than their siblings who did not. Among African-American families, siblings who attended Head Start were significantly less likely to be charged with a crime.                                                                                                                       

So far, I’ve been telling you about programs that have been widely recognized. Here’s what’s new: research has begun to demonstrate the importance for their development of connecting children with caring adults. We’ve come to understand that these relationships are critical for helping children overcome adversity—they can actually alter how a child’s brain changes. Over the past 40 years, the number of programs in this category, such as Big Brother and Big Sister, Boys and Girls Clubs, and other after-school programs, has grown enormously. Efforts like these are rarely cataloged, let alone evaluated, so researchers are cautious in making broad claims about impact. But the importance of adult-child connections supports government spending on a range of programs that foster them. There’s no magic-bullet program. But it’s also wrong to blast the government for throwing money at a problem it can’t solve. We’ve been making wise investments How To Tattoo Gun, and we’ve been getting results.

Thanks to Stanford law and education student Charles Wysong for his research on this article.

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May 16 2012

Thomson survives suspension vote

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Craig Thomson remains in parliament after the coalition failed to have the former Labor MP suspended following serious allegations of corruption.

The opposition wanted Mr Thomson booted out for 14 days in what manager of opposition business Christopher Pyne said was a bid to restore confidence in parliament.

“This sorry affair has damaged the parliament and its reputation,” Mr Pyne told parliament on Tuesday.

The opposition move followed a report of a Fair Work Australia investigation that alleges Mr Thomson Replica Bandage dresses, who was elected to the NSW seat of Dobell in 2007, breached workplace laws over the spending of more than $71,000 in HSU funds on his campaign.

It found more than $154,000 was spent on one staffer and $41,000 on another connected to his campaign.

Fair Work Australia found Mr Thomson spent almost $500,000 of union members’ funds on escorts, cash withdrawals, meals and electioneering, including $1,425 after he became a federal MP.

The Australian Electoral Commission (AEC) is examining the report to determine whether there is anything that warrants it making further inquiries into the allegations first raised in the media in April 2009.

The commission previously decided there were no reasonable grounds to use its coercive powers to get more information, as there was no direct evidence in the public domain of allegations and amounts of money allegedly used by Mr Thomson.

Mr Thomson has denied any wrongdoing.

Opposition frontbencher Bronwyn Bishop, who has been pursuing the issue for more than two years, told AAP the AEC had mishandled the matter and needed to explain itself.

She said the ALP also needed to pay back all of the money spent on the Dobell campaign.

Mr Pyne told parliament he was not moving the suspension motion lightly Discount DKNY Clothing, saying the allegations surrounding Mr Thomson were very serious.

“The most serious that can be made: that he engaged in corruption and that he misused union funds to the tune of almost half a million dollars.

“Out in the public they view the 43rd parliament with sheer horror and revulsion.”

Leader of the House Anthony Albanese said Mr Thomson was entitled to stay in his backbench seat until investigating authorities came to their conclusions.

Opposition Leader Tony Abbott had said the same when Liberal MPs Andrew Laming and Ross Vasta were subject to police and Criminal and Misconduct Commission investigations in Queensland, Mr Albanese said.

“And I am not surprised that he would have some respect for judicial processes because he has been in the dock – I haven’t.”

Mr Pyne attempted to have Mr Thomson prevented from voting on the motion but Deputy Speaker Anna Burke said parliamentary procedures entitled the MP to vote.

The opposition’s motion was lost 70 votes to 72.

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May 15 2012

True-to-Life Stories

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Thanks to chance and circumstance—because people left them, sent them, or lent them—a trio of autobiographies landed on my desk last weekend: Valerie Plame’s Fair Game: My Life As a Spy, My Betrayal by the White House, George Tenet’s At the Center of the Storm: My Years at the CIA, and Peter Gay’s My German Question: Growing Up in Nazi Berlin. Though Plame and Tenet were published in 2007, and Gay in 1998, I hadn’t read any of them before.

Motivation to pick them up was, however, provided by Margaret B. Jones and Misha Defonseca. For those who missed their stories, Jones, a half-Indian drug-dealing gang member who grew up in foster homes, according to her well-received memoir, last week turned out to be Margaret Seltzer, an all-white suburbanite who grew up with her family. Defonseca, a Jew who survived the Holocaust by living with wolves, according to her acclaimed autobiography, is in fact Monique De Wael, a Catholic who spent the war in Brussels. The two revelations—coming in the wake of JT Leroy, James Frey, Binjamin Wilkomirski, and other hoaxes—inspired much criticism of the publishing industry (why do they fall for it? why don’t they fact-check?) and some excellent parodies. (See Slate’s “advertisement” for Margaret B. Jones’ next volume: “She brought down Sen. Joseph McCarthy, founded the Black Panthers Tattoo Supplies, and wrote Ronald Reagan’s Berlin Wall speech—all before taking over the notorious Crips gang in South Central …”)

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But maybe these extreme examples should inspire some other questions, too. How “true,” for example, are real autobiographies, written by real people, describing real events? Coincidentally Tattoo Supplies, I was first taught to ask this question by Gay, now an emeritus professor of history, during a seminar on autobiography that he taught some 20-odd years ago. As I recall it, we were debating Rousseau’s Confessions when Gay pointed out some element of the story that could not possibly have been true. He then invited us to think about why, in that case, Rousseau had changed it. For unconscious emotional reasons? Or consciously, in order to shape his reputation?

Reading Gay’s own idiosyncratic autobiography, it’s evident that he had such historical uses and abuses of autobiography in mind while he was writing it. During his account of growing up in, and emigration from, 1930s Berlin, he frequently questions both his recollections and his motives for recording them. He confesses to prejudices—most notably a hatred for the Nazi regime—that might color his account of his pre-Nazi early childhood. He admits to important gaps in his memory.

By contrast, Tenet’s and Plame’s books show no such hesitations, no such uncertainties, and certainly admit to no prejudice. Tenet does concede that “no such undertaking is completely objective,” but he calls his book “as honest and as unvarnished as I could make it.” Plame doesn’t even go that far, offering instead, by way of introduction, a rollicking account of her CIA recruitment (and, bizarrely, a very large number of irrelevant childhood photographs).

But I have no intention of picking on Tenet and Plame, much though they might deserve it, just because I stumbled on their books last weekend. After all, what struck me about their memoirs was not their uniqueness, but their very similarity to other books in the “political memoir” genre, recent examples of which include the autobiographies of both Clintons; Leadership, by Rudy Giuliani; No Retreat, No Surrender,  by Tom DeLay; and The Audacity of Hope, by Barack Obama (but not his first, quirky, pre-fame book, Dreams From My Father), just to name an arbitrary few.

Beyond “setting the record straight,” none of these books was ever intended to have deeper literary or historical significance. They don’t do careful self-analysis, but neither do they add much to the bigger picture. They don’t necessarily lie, but they are intended to shape public perceptions of the author, which is why many read like extended versions of those candidate-life-story films one sees nowadays at political conventions. Some—I’m thinking here of Bill Clinton’s hefty memoir—seem designed to decorate coffee tables, not to be read at all.

So, why don’t the publishers who produce them come in for more criticism? And why aren’t authors more often parodied? (“He achieved peace in Northern Ireland, fixed the American health-care crisis, and singlehandedly dismantled the New York City trash collection mafia—all the while remaining a perfect husband and father and never accepting a single penny from lobbyists …”)

Or maybe the publishing industry shouldn’t get all the blame. We’ve all gotten used to the idea that life stories can be “sold,” that lives that contain accidents, deviations, and inexplicable moments of uncertainty—as all lives do—can be crafted, shaped, and presented to the public by marketing specialists—and yet still remain “true.” No wonder we’re so easily taken in, nowadays, by fraudsters, hucksters, fake drug dealers, and children who claim to have been raised by wolves.

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May 14 2012

Spy ShotsVW’s Sharan van

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There’s a whole class of small minivans over in Europe that we miss out on here in the US. Ford’s got the great new S-Max, and Volkswagen’s working on bringing a new version of its Sharan to market.

AutoExpress managaed to nab a new Sharan, due by the end of 2008 Hale Bob Dresses sale, with one of its long lenses. These people movers are a smaller alternative for folks who need flexibility and utility coupled with an easy-driving, carlike demeanor. They’d slot nicely into the strata of the US marketplace under the ever-larger minivans we have on offer now. VW’s got some catching up to the S-Max to do with their new Sharan.

For the current version of the MPV Buy Herve Leger gown, VW and Ford teamed up to produce the Galaxy and Sharan models together in Portugal. By resting on its laurels Christian Audigier Clothes sale, Volkswagen has been left in the dust while everyone else updated and refined their MPV offerings. Ford, for its part Buy Bandage dresses, has since brought out the S-Max and a new version of the Galaxy. Underpinning the Sharan is an adaptation of the Passat platform Cheap DKNY Clothes, and the MPV offers the same powertrain options as the Passat Cheap White Herve leger, as well.

[Source: AutoExpress]

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May 14 2012

Aston Martin Cygnet gets the green light

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Aston Martin Cygnet – Click above for high-res image gallery

Niche automakers like Aston Martin are facing increasing difficulties with our overcrowded planet. On the one hand, emissions regulations are tightening Buy DKNY Clothes, forcing automakers to reduce their carbon footprint across their range. On the other, big GTs like those that Aston builds, svelte though they are Cheap Herve Leger v neck, are becoming increasingly inconvenient for navigating crowded city streets. Aston’s answer to both these problems is the Cygnet Herve Leger gown sale, and it’s just been announced for production.

The city car shown until now in concept form is based heavily on the Toyota iQ, but in Cygnet form will be hand-assembled at Aston’s factory at Gaydon in Warwickshire Herve Leger gown sale, England, alongside the company’s Grand Tourers. Production is slated to begin next year in 2011 Replica Christian Audigier Clothing, with pricing and specifications due to be announced later this year. Official announcement in the press release after the jump White Herve leger sale, updated high-res image gallery below.

Related GalleryAston Martin Cygnet
[Source: Aston Martin]

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May 14 2012

Biden’s Gaffe Immunity

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Democratic vice presidential nominee Sen. Joseph Biden 

When Joe Biden described an Obama ad attacking John McCain’s inability to use a computer as “terrible,” the world acted as if the Joe-pocalypse had finally arrived. Jonathan Martin of Politico called it “perhaps his most off-message statement yet.”Newsday dubbed him “gaffe-a-minute Joe.”National Review’s Victor Davis Hanson said it raised “serious concern whether Biden is up to the job.”

Please. Biden’s blunder couldn’t matter less. Not because gaffes never matter—they can, if they play into public perceptions of the candidate’s character—but because Joe Biden is gaffe-proof. Whatever traps he sets for himself, however many minorities he offends Herve Leger v neck sale, he always seems to wriggle out. It’s almost as if, by committing so many gaffes Discount BCBG Dresses, he has become immune to their effects. “Joe Biden Makes Gaffe” is the new “Dog Bites Man.”

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In the past week, Biden hasn’t disappointed. When the federal government announced the AIG bailout, Biden said it was a bad idea. (The official campaign stance at the time was neither support for nor opposition to the bailout; Obama gently chided Biden for going off-message.) In Ohio, Biden said he’s against clean-coal technology. (That was his stance in the primaries, not Obama’s current stance.) And in an interview with Katie Couric, he said that when the markets crashed in 1929, “Franklin Roosevelt got on the television and didn’t just talk about the princes of greed. He said, ‘Look, here’s what happened.’ ” (FDR wasn’t president then, nor did television exist.)

As a result, the Obama/Biden campaign was on alert Tuesday. Biden addressed a crowd of about 150 at a community center in Woodbridge, Va., about an hour outside Washington. During the primaries, this would have been an informal event—Biden might have rambled for a bit Herve Leger sale, mostly from memory, before taking questions from the audience. This time he was all business. The dais/teleprompter setup seemed better suited to an arena than a small gym. Biden read his speech Replica Herve Leger v neck, shook hands, and took off. At one point, a Secret Service guy nudged closed the rope barriers separating the press from the rest of the room. A Biden spokesman said he uses the teleprompter sporadically. He had some new material about McCain supporting Bermuda tax shelters that he wanted to get right. But you can also see why the Obama campaign may see the value of the teleprompter: It’s like a verbal leash.

Later that day, after a speech to the National Jewish Democratic Conference, an Obama staffer picked off reporters trying to worm through the scrum surrounding Biden. We dutifully returned to our pen. It would normally be fine to talk to Biden, the staffer explained, but this was a private event, not a campaign event. Yet Alexis Rice, communications director for NJDC, said it was entirely up to the campaign who gets to talk to Biden. “I’m happy to have as many reporters as possible talk to Biden Buy Chloe Dresses,” she said.

Clamping down is a campaign’s way of reasserting control. If a candidate can go off-message in an interview with Katie Couric, how can he be trusted to greet reporters at a rope line? Better to run a tight ship than risk a candidate running his mouth.

But it’s hard to see Biden’s runaway mouth doing much damage. Just look at the history. Biden drew glares when he suggested that in Delaware Buy Christian Audigier Clothing, “you cannot go to a 7-Eleven or a Dunkin’ Donuts unless you have a slight Indian accent.” Later, he called Obama “the first mainstream African-American who is articulate and bright and clean and a nice-looking guy.” Careers have ended over less. But Obama bailed him out, saying he knew Biden meant well. Those two gaffes could easily have created the narrative that Joe Biden is a racist. But that didn’t happen.

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May 13 2012

Blake Griffin to auction dunked-over Kia Optima on

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Mixed opinions arise when discussing Blake Griffin’s over-car dunk at the 2011 NBA Slam Dunk Contest. Regardless Replica Tag Heuer Watches sale, it got people talking and the 2011 Kia Optima played a major role in the jam. Kia turned Griffin’s hop into a commercial, and now Griffin is again using that same Optima for another good move; one that will benefit cancer research organization Stand Up to Cancer.

With the help of AutoTrader.com, Blake Griffin will auction off the car that helped him win the 2011 Dunk Contest title. Signed by the recently named Rookie of the Year Replica Graham London Watches, this Optima has been seen by millions of people courtesy of YouTube (and you can join that group by clicking past the jump and watching the dunk for yourself).

All proceeds will go to Stand Up for Cancer, which is a charity close to Griffin’s heart. His friend, and former high school basketball teammate Where find Replica Harry Winston Watches, Wilson Holloway recently lost a three-year battle with Hodgkin’s Lymphoma. AutoTrader.com Replica Graham London Watches, which typically does not auction vehicles Replica Porsche Design Watches for Cheap, has stated that it’s eager to help raise as much money as possible for such a worthy charity. The auction will run through May 15th Replica Aigner Watches, and can be viewed at a special Blake Griffin-specific page on AutoTrader.com.

Click past the jump to get a refresher on Griffin’s sedan-soaring slam, then be sure to read through the press release for more information. It’s also worth mentioning that donations can be made to Stand Up to Cancer here.

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