Wednesday, March 3, 2010

Ford Motor Company said on Tuesday that its sales in the United States rose 43% in February compared to the same period last year, as the automaker outsold rivals Toyota and General Motors.

Ford said that total sales improved to 142,285 units, compared to 141,951 units sold by GM. Additionally, Ford said that its share of the total US car market rose to 17%, up from 14% a year ago. The increase was better than analysts had predicted, and Ford’s stock rose to a five-year high in morning trading, before declining later in the day. Ford’s sales were significantly influenced by a 74% increase in fleet sales to businesses. Rental car agencies alone accounted for around 30,000 units sold. Sales to retail consumers increased only 28%.

The increases were led by sales of two sedans, the Fusion and Taurus, which rose 166.5 and 93.3% respectively, although sales of other models such as SUVs and pickup trucks also increased. Both models were significantly redesigned last year, and analysts said that improved quality from such cars were driving the increases.

Other companies also reported February sales today, nearly all reporting sales gains as well, although none as large as those of Ford. Toyota was the sole exception to the sales gains, as their sales declined 8.7%, as the company was faced with a global recall during the month that led to a temporary stoppage of production for some models.

“The strength of our new products … are resonating with customers,” said Ken Czubay, Ford’s vice president of sales and marketing. However, he believed that traditional Toyota customers were not buying rival autos, but rather awaiting the results from the recalls.

Thursday, March 15, 2018

This morning, United States-based toy retail giant Toys “R” Us filed for liquidation with United States bankruptcy court. The company had about 735 stores in the country which may be closed as a result of the liquidation.

The motion came after the US holidays, after which the company said its revenue fell short of expectations. Toys “R” Us was seeking cooperation with its Canadian business to leave 200 stores open, the court papers said. The company said it would be unable to realize an earlier goal to leave as many as 400 stores open.

The papers filed in the court indicated that the United States holiday sales produced revenue US$250 million short of the expectations. In the report to the court, Toys “R” Us blamed in part its weakened e-commerce business. It wrote, “The stark reality is that the debtors are projected to run out of cash in the U.S. in May 2018.”

Toys “R” Us chief executive officer Dave Brandon said, “This is a profoundly sad day for us as well as the millions of kids and families who we have served for the past 70 years.”

Toys “R” Us said it was preparing to sell its businesses in Asia and Central Europe, including Germany, Austria, and Switzerland.

In September 2017, Toys “R” Us filed for bankruptcy in the US and Canada, and a judge allowed a US$2 billion loan.

Kohlberg Kravis Roberts, Bain Capital Partners, and Vornado Realty Trust purchased Toys “R” Us for US$6.6 billion in 2005. According to CNBC, the company had US$4.9 billion in debt at that time, which made it difficult for the company to adapt to the changing market.

Sunday, December 24, 2006

A unanimously passed United Nations Security Council resolution imposing sanctions on Iran has been dismissed by Iranian president Mahmoud Ahmadinejad as a “piece of paper.” Ahmadinejad said that it is in “the best interest of the West” to have a “nuclear Iran” and that Iran will not stop enriching uranium.

“It is a piece of torn paper … by which they aim to scare Iranians … It is in the Westerners’ interests to live with a nuclear Iran,” said Ahmadinejad.

Ahmadinejad also goes on to say that anyone who “backs” the U.N. resolution will “soon regret” their acts. He also added that in “February, Iranians will celebrate” the nation becoming a nuclear power.

“This resolution will not harm Iran and those who backed it will soon regret their superficial act. Iranians are neither worried nor uncomfortable with the resolution … we will celebrate our atomic achievements in February,” added Ahmadinejad.

On December 23, 2006, the U.N. stated that the resolution is “determined to give effect to its unmet 31 July demand that Iran suspend all uranium enrichment-related and reprocessing activities. The Security Council today imposed sanctions on that country [Iran], blocking the import or export of sensitive nuclear material and equipment and freezing the financial assets of persons or entities supporting its proliferation sensitive nuclear activities or the development of nuclear-weapon delivery systems,” reported the press release on the U.N.’s website.

The U.N. also said that Iran must suspend all uranium enrichment and that the sanction would be lifted if the country complies with the U.N..

“Unanimously adopting resolution 1737 (2006) under Article 41 of the Charter’s Chapter VII, the Council decided that Iran should, without further delay, suspend the following proliferation sensitive nuclear activities: all enrichment-related and reprocessing activities, including research and development; and work on all heavy-water related projects, including the construction of a research reactor moderated by heavy water. The halt to those activities would be verified by the International Atomic Energy Agency (IAEA).”

The U.N. also stated that “specifically, all States [countries] should prevent the supply, sale or transfer, for the use by or benefit of Iran, of related equipment and technology, if the State determined that such items would contribute to enrichment-related, reprocessing or heavy-water related activities, or to the development of nuclear weapon delivery systems. The Council decided it would terminate the measures if Iran fully complied with its obligations, or adopt additional ones and possible further decisions if the country did not.”

Iran also said that beginning on “Sunday morning, we [Iran] will begin activities at Natanz” which has “3,000 centrifuges” which they “will drive them with full speed” in response to the U.N.’s resolution.

“From Sunday morning, we will begin activities at Natanz, the site of 3,000-centrifuge machines, and we will drive it with full speed. It will be our immediate response to the resolution,” said Ali Larijani, the top nuclear negotiator for Iran.

The U.N. will review the resolution and Iran’s activities in 60 days.

Tuesday, October 28, 2008

Acting teacher and director Milton Katselas died Friday at age 75, after suffering from heart failure at Cedars-Sinai Medical Center in Los Angeles, California. He began the Beverly Hills Playhouse in 1978 and taught acting classes there to noted actors including George Clooney and Gene Hackman. Katselas is survived by a sister and two brothers.

Katselas directed an off-Broadway production of Edward Albee‘s The Zoo Story, and received a Tony Award nomination for his 1969 direction of Butterflies are Free. Actress Blythe Danner won a Tony Award for her role in Butterflies are Free under Katselas’ direction. He moved to California to direct the film version of that play, and went on to direct films and television movies. Actress Eileen Heckart received an Academy Award for her role in the film version of Butterflies are Free.

Katselas directed the San Francisco and Los Angeles productions of the play P.S. Your Cat Is Dead! by playwright James Kirkwood, Jr. In his author’s notes in the publication of the script, Kirkwood acknowledged Katselas, and wrote that the plays were “directed with incredible energy and enthusiasm by Milton Katselas, to whom I am extremely indebted”.

Katselas directed the television movie Strangers: Story of a Mother and Daughter, and actress Bette Davis received an Emmy Award for her role in the movie. Katselas taught many famous actors including Michelle Pfeiffer, Richard Gere, Robert Duvall, Jack Lemmon, Al Pacino, Goldie Hawn, Christopher Walken, Burt Reynolds, George C. Scott, Elizabeth Taylor, Richard Burton, Alec Baldwin, and Patrick Swayze. Katselas was credited with being able to nurture actors with raw talent so that they could develop strong Hollywood careers. He utilized innovative techniques in his courses – one course called “Terrorist Theatre” had a simple premise: successfully get an acting role within six weeks or leave the course.

He grew up in Pittsburgh, Pennsylvania to parents who had immigrated from Greece, and graduated from Carnegie Mellon. He studied acting with Lee Strasberg in New York at the Actors Studio, and received advice from directors Joshua Logan and Elia Kazan.

Katselas was a prominent Scientologist, and a July 2007 profile on Katselas in The New York Times Magazine observed that some of his students stopped taking courses at the Beverly Hills Playhouse because they felt they had been pressured to join the Church of Scientology. According to the article, Katselas credited Scientology founder L. Ron Hubbard “for much of his success in life”, and one of his students works at Scientology’s Celebrity Centre. The article commented that some in Los Angeles view the Beverly Hills Playhouse as “a recruitment center for Scientology”.

Katselas met L. Ron Hubbard after moving to California, and began studying Scientology in 1965. The New York Times Magazine reported that he had reached the level of “Operating Thetan, Level 5, or O.T. V.” in 2007. According to The New York Times Magazine when Scientologists proceed up the “The Bridge to Total Freedom” they learn the story of Xenu, and that: “75 million years ago the evil alien Xenu solved galactic overpopulation by dumping 13.5 trillion beings in volcanoes on Earth, where they were vaporized, scattering their souls.” A Church of Scientology publication, Source, lists Katselas as reaching O.T. V. in 1989.

Though some actors felt pressured to join the Church of Scientology after taking courses at the Beverly Hills Playhouse, at least one individual felt Katselas was not active enough with the organization. Actress Jenna Elfman left the Beverly Hills Playhouse because she felt Katselas was not committed enough to Scientology. Katselas had previously directed Elfman in half of Visions and Lovers: Variations on a Theme, two one-act plays about relationships that he had written himself. In 1999 Katselas had planned to adapt the script of Visions and Lovers to a film version, and Elfman was set to reprise her role from the play. In an article in Variety about the project, Elfman commented on her experience working with Katselas: “He is brilliant, and knows me so well as a person and an actress that he gets the most out of me.”

Other prominent Scientologist actors who have studied under Katselas include Giovanni Ribisi, Jason Lee, and Leah Remini. According to Rolling Stone, Katselas also recruited actress Kelly Preston to Scientology. Actress Nancy Cartwright (the voice of Bart Simpson), told Scientology publication Celebrity that Katselas motivated her to get more active in Scientology, and she stated she took the organization’s “Purification Rundown” and her life “took off completely”.

Anne Archer was introduced to Scientology while studying at the Beverly Hills Playhouse, as was former Scientologist and now outspoken critic actor Jason Beghe. Beghe told Roger Friedman of FOX News in April 2008 that “He [Katselas] gets kickbacks”, and that he was brought to a Scientology center by fellow Beverly Hills Playhouse classmate Bodhi Elfman, Jenna Elfman’s husband. In a 1998 article for Buzz Magazine, Randye Hoder wrote “In his class, Katselas is careful not to label anything as a tenet of Scientology, but there is no question that the church’s influence seeps into the playhouse.”

Anne Archer’s husband and fellow Scientologist, producer Terry Jastrow, commented to The New York Times Magazine that Katselas changed the way he experiences life on a day-to-day basis: “I go out in the world and look at human behavior now. I see a woman or man interacting with a saleslady, and I see the artistry in it. Life is an endless unspooling of art, of acting, of painting, of architecture. And where did I learn that? From Milton.”

Actor Anthony Head of Buffy the Vampire Slayer spoke highly of Katselas in a 2002 interview with San Francisco Chronicle: “He’s this wonderfully intuitive teacher and his premise is basically: The only real barriers are the ones we put in front of ourselves. If you say, ‘My character wouldn’t do that’ — bollocks! Ultimately it’s you who wouldn’t say that. Who knows what your character might do.” In the acknowledgements of her 2004 autobiography Are You Hungry, Dear?: Life, Laughs, and Lasagna, actress Doris Roberts wrote: “I thank my friend and acting teacher, the incredible Milton Katselas, for his insights, wisdom, and inspiration, which have helped make me the actress that I am.”

Katselas authored two books: Dreams Into Action: Getting What You Want, first published in 1996 by Dove Books, and Acting Class: Take a Seat, which came out earlier this month. Dreams Into Action, a New York Times Bestseller, sought to modify motivational acting exercises to the field of business.

In an interview in the 2007 book Acting Teachers of America, Katselas commented on his experiences as an acting teacher over the years: “I have very special teachers here at the Beverly Hills Playhouse—some have been with me for over twenty-five years. I believe that to make a difference over the long haul, we need to train teachers. I really care about the craft of acting. It’s absolutely necessary to take the time and patience to really develop an actor.”

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.”

Saturday, December 5, 2009

According to Médecins Sans Frontières the health care system in Sierra Leone causes loss of life because the poor cannot afford medical treatment.The maternal death rate and the child mortality rate in Sierra Leone are the highest in the world.Experiences of Médecins Sans Frontières had shown that free care or low fees lead to a dramatic increase in the number of patients.Nonetheless the national health system of Sierra Leone demands payment for all treatment with simple consultations costing as much as 25 days of income.According to Action Against Hunger the number of children with acute malnutrition has reached almost twice the level of the WHO‘s emergency threshold of 2% in the Moyamba district of Sierra Leone.

The Los Angeles Times writes that Sierra Leone, in spite of decades of foreign aid, has not yet increased the standard of living of its people considerably and 60% of the public spending of Sierra Leone come from other governments and nonprofit organizations.Since 2002 the country received $1 billion in aid but the infant mortality rate is almost the highest in the world, lower than Angola but higher than Afghanistan. The newspaper further reports that the United Nations state that 1 in 8 Sierra Leonean women die giving birth, as compared to 1 in 4,800 in the United States and that life expectancy in Sierra Leone is merely 41 years while in Bangladesh life expectancy reaches 60 years.

The government of Sierra Leone had expressed its intend to abolish user fees for women and children with a new plan for a fairer health care system that was to be revealed on the Sierra Leone Investment and Donor Conference, which was held in London on November 18 and 19.

“The Sierra Leone government has publicly stated its commitment to abolish user fees, and the UK government and other donors have promised to help,” said Seco Gerard, advisor at Médecins Sans Frontières’s analysis and advocacy unit. “What is crucial now is that Sierra Leone actually receives the necessary funding and technical assistance to realise this objective. It is time that words are being followed up by concrete action. If not, people who could otherwise be saved will continue to die needlessly every day.”

The Telegraph reports that president Bai Koroma was also hoping to secure a significant increase in aid donations with his new health plan.While Germany declined to support president Bai Koroma’s “Agenda for Change” and urged to give more consideration to women’s welfare the country received support from the European Union, DFID, UNIPSIL, World Bank, IFAD and the African Development Bank. From the pledges of $850 million the government of Sierra Leone was hoping for only about $300 millions could be secured, with attached conditionalities concerning the use of funding.

In a presentation at the Ministry of Finance and Economic Development in Freetown the Unicef representative for Sierra Leone, Mr. Mahimbo Mdoe, expressed gratitude about a pledge of about $1.3 million conveyed by the Ambassador of Japan to Sierra Leone, His Excellency Mr. Keiichi Katakami, and about earlier donations to UNICEF-Sierra Leone in the past years, amounting to over $20 million.The intended application of the funding is the goal to half child and maternal mortality by 2010, to introduce a social health insurance scheme, to improve equipment and to train health professionals.

Saturday, May 29, 2010

Actor, director, and artist Dennis Hopper has died today at the age of 74. He was known to suffer from prostate cancer since October 2009.

He was born Dennis Lee Hopper on May 17, 1936 in Dodge City, Kansas. As a young man, Hopper became interested in acting and eventually became a student of the Actors Studio. He made his first television appearance in 1955, and appeared in two films featuring James Dean, Rebel Without a Cause (1955) and Giant (1956). Over the next ten years, Hopper appeared frequently on television in guest roles, and by the end of the 1960s had played supporting roles in several films. He directed and starred in Easy Rider (1969), winning an award at the Cannes Film Festival, and was nominated for an Academy Award for Best Original Screenplay as co-writer of the film’s script.

Hopper was unable to build on this success for several years, until a featured role in Apocalypse Now (1979) brought him attention. He subsequently received critical recognition for his work in Blue Velvet and Hoosiers, with the latter film garnering him an Academy Award nomination for Best Supporting Actor. Hopper’s more recent work included a leading role in the television series Crash.

Hopper was a prolific photographer, painter, and sculptor whose works have been exhibited worldwide.

On January 12, 2010, several months after the cancer diagnosis, Hopper had filed for divorce from his wife Victoria Duffy leading to an extended public feud between the couple over the course of the following months.