GM Plans 1-for-100 Reverse Stock Split

May 6th, 2009

WARNING: This is not a recommendation to buy, sell or hold any financial instrument.

Shorts drool and autoflagellate with anticipation.

Via: AP:

General Motors Corp. notified shareholders Tuesday it is planning a reverse stock split that would give them one share of new stock for every 100 shares they currently own.

The automaker said in a filing with the Securities and Exchange Commission that the deal would be part of an agreement with the Treasury Department in which the government would assume at least half of GM’s debt in exchange for company shares. GM will send the information to shareholders currently holding a total of 610.5 million outstanding shares.

GM spokeswoman Julie Gibson said the company is merely notifying shareholders of what it may do if it reaches deals to swap debt for stock with the Treasury Department and bondholders. The company, she said, is not making an offer to shareholders.


White House Won’t Release Alleged Photos from Air Force Operation Over Lower Manhattan

May 5th, 2009

And Now: White House Will Release a Photo

The White House plans to soon release a photo from the controversial Air Force One-style flyover of Manhattan last week, despite claiming earlier that there was no need to release any official images from the incident.

White House Press Secretary Robert Gibbs told reporters Wednesday that an internal report will probably be completed this week.

“We’ll release its findings and release a photo,” he said.

—

Seriously, people, WTF was this?

Via: New York Post:

The $328,835 snapshots of an Air Force One backup plane buzzing lower Manhattan last week will not be shown to the public, the White House said yesterday.

“We have no plans to release them,” an aide to President Obama told The Post, refusing to comment further.

The sole purpose of the secret photo-op, which sent thousands of New Yorkers running for cover, was to take new publicity shots of the presidential jet over the city.

“The photos . . . are classified — that’s ridiculous,” Councilman Peter Vallone Jr., said.

The photos have not technically been “classified,” a White House aide said, but they are being kept from public view.


Georgia Says Foils Rebellion; Points Finger at Russia

May 5th, 2009

Via: Reuters:

Georgia said it put down a mutiny at a military base on Tuesday and accused Moscow of financing a coup on the eve of NATO war games in the former Soviet republic.

Russia, which fought a war with Georgia last year, denied any involvement and said President Mikheil Saakashvili was trying to shift the blame for his domestic problems.

Georgia’s opposition said the incident was “a show” to deflect attention from protests against the president.

Saakashvili called the rebellion at the Mukhrovani tank base a “serious threat.” Police kept reporters at a distance and it was not clear how many of the 500 soldiers there were involved.

About three hours after news broke of a military uprising, around 30 tanks and armoured personnel carriers entered the base, followed later by Saakashvili and the ministers of defence and interior, a Reuters reporter said.

Officials said officers had surrendered and their commander had been arrested.


Google Deletes Alex Jones Channel on YouTube

May 5th, 2009

Via: InfoWars:

You Tube has once again proven itself to be a corporate gatekeeper working to destroy free speech and the alternative media after it suspended the popular ‘Alex Jones Channel’ – primarily because Alex Jones showed a print out of a news article during a live show.

The Alex Jones Channel, started by a fan but since embraced as the “official” Alex Jones micro-site on You Tube, has routinely featured in the website’s most popular ranking charts and has collectively attracted millions of views for videos painstakingly catalogued and uploaded over the past two years.

Those videos are now completely gone after You Tube bosses deleted the channel, primarily because the Pittsburgh Post-Gazette complained that Alex Jones had shown a computer print out of one of their articles about the Poplawski cop killer incident last month.

To claim that showing a print out of an article is a violation of copyright is of course completely insane – not a day goes by without TV news anchors showing newspaper stories on live television. Indeed, C-Span’s popular Washington Journal program almost entirely consists of the host showing clippings of newspaper stories every morning.


The Vegetarian Myth: Food, Justice and Sustainability by Lierre Keith

May 5th, 2009

I’ve listened to a few of Lierre Keith’s radio appearances and talks. This information will be nothing new to those of you who are involved with producing your own food in ways that build top soil. To the rest of you, this will be deep, chilling doom… for your belly.

Lierre Keith is absolutely NOT suggesting that eating industrially produced meat is a viable option. Obviously, it isn’t. What is she saying to eat? In short: Food that encourages perennial polycultures to thrive; meat and fish with the standard Weston A Price caveats. She mentions Weston A Price by name, actually. But this is not your standard WAPF advocacy message. Keith advocates Derrick Jensen’s militant anti civilization perspective, which, unfortunately, is dumb. I’m not saying that we’re not fucked, or to look for glimmers of hope inside this system. I’m saying that the release of nuclear weapons should be on the mind of anyone advocating the indiscriminate destruction of critical infrastructures. I wrote about this in Resistance on the Brink of Oblivion:

In a linear* collapse scenario—what we’re living in now—there is less of a chance of nuclear weapons being used. If, however, an insurgency began dismantling key infrastructures, the regimes in question could (and probably would) see the threats as strategic and begin to follow scripted war plans that include the use of strategic nuclear weapons. In such a cascading collapse, the release of nuclear weapons would, because of the confusing nature and fast pace of events, be much more likely.

Voluntary simplicity is as frightening to many people as armed insurgency. Those, however, are the only viable options that remain at this late stage of the game. If you go with voluntary simplicity, you have to assume that the system is actually in the process of collapsing, because, if it doesn’t collapse, we will pass a point beyond which resistance of any meaningful kind will be impossible. If you go with armed insurgency—and, let’s say that you, by some miracle, actually manage to collapse civilization—avoiding total extinction via thermonuclear holocaust would be your next goal.

Choose carefully.

* Linear is probably the wrong word. Orderly might be better.

Unfortunately, there is no quick way out of this, assuming that there is a way out of this at all.

I hope that Lierre Keith’s (rhetorical) anti civilization militancy doesn’t put you off from investigating her perspectives. She presents a great deal of critical information with regard to the fallacies of large scale agriculture and the mass production of annual monocrops.

Via: Lierre Keith:

We’ve been told that a vegetarian diet can feed the hungry, honor the animals, and save the planet. Lierre Keith believed in that plant-based diet and spent twenty years as a vegan. But in The Vegetarian Myth, she argues that we’ve been led astray–not by our longings for a just and sustainable world, but by our ignorance.

The truth is that agriculture is a relentless assault against the planet, and more of the same won’t save us. In service to annual grains, humans have devastated prairies and forests, driven countless species extinct, altered the climate, and destroyed the topsoil–the basis of life itself. Keith argues that if we are to save this planet, our food must be an act of profound and abiding repair: it must come from inside living communities, not be imposed across them.

Part memoir, part nutritional primer, and part political manifesto, The Vegetarian Myth will challenge everything you thought you knew about food politics.

Research Credit: RF


Russia to Build Floating Arctic Nuclear Stations

May 4th, 2009

Ok, I’ll write it to save you from having to post it as a comment:

WHAT COULD POSSIBLY GO WRONG?

Via: Guardian:

Russia is planning a fleet of floating and submersible nuclear power stations to exploit Arctic oil and gas reserves, causing widespread alarm among environmentalists.

A prototype floating nuclear power station being constructed at the SevMash shipyard in Severodvinsk is due to be completed next year. Agreement to build a further four was reached between the Russian state nuclear corporation, Rosatom, and the northern Siberian republic of Yakutiya in February.

The 70-megawatt plants, each of which would consist of two reactors on board giant steel platforms, would provide power to Gazprom, the oil firm which is also Russia’s biggest company. It would allow Gazprom to power drills needed to exploit some of the remotest oil and gas fields in the world in the Barents and Kara seas. The self-propelled vessels would store their own waste and fuel and would need to be serviced only once every 12 to 14 years.

In addition, designers are known to have developed submarine nuclear-powered drilling rigs that could allow eight wells to be drilled at a time.

Bellona, a leading Scandinavian environmental watchdog group, yesterday condemned the idea of using nuclear power to open the Arctic to oil, gas and mineral production.

“It is highly risky. The risk of a nuclear accident on a floating power plant is increased. The plants’ potential impact on the fragile Arctic environment through emissions of radioactivity and heat remains a major concern. If there is an accident, it would be impossible to handle,” said Igor Kudrik, a spokesman.

Environmentalists also fear that if additional radioactive waste is produced, it will be dumped into the sea. Russia has a long record of polluting the Arctic with radioactive waste. Countries including Britain have had to offer Russia billions of dollars to decommission more than 160 nuclear submarines, but at least 12 nuclear reactors are known to have been dumped, along with more than 5,000 containers of solid and liquid nuclear waste, on the northern coast and on the island of Novaya Zemlya.

The US Geological Survey believes the Arctic holds up to 25% of the world’s undiscovered oil and gas reserves, leading some experts to call the region the next Saudi Arabia. But sea ice, strong winds and temperatures that can dip to below -50C have made them technologically impossible to exploit.


N.Y. Times to File Notice It Will Close Boston Globe

May 4th, 2009

Via: Washington Post:

The New York Times Co. said last night that it is notifying federal authorities of its plans to shut down the Boston Globe, raising the possibility that New England’s most storied newspaper could cease to exist within weeks.

After down-to-the-wire negotiations did not produce millions of dollars in union concessions, the Times Co. said that it will file today a required 60-day notice of the planned shutdown under the Worker Adjustment and Retraining Notification law.

The company and union had set a deadline of midnight last night to forge an agreement. But negotiations continued until 8 a.m. and the company fashioned agreements with the unions representing mailers and drivers during the extended talks, the Associated Press reported. However, talks with other unions, including the Boston Newspaper Guild, are expected to continue later this week.

The threatened shutdown could amount to a negotiating ploy to extract further union concessions, since the notice does not require the Times Co. to close the paper after 60 days.
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But it puts the unions under fierce pressure to produce additional savings; the Boston Newspaper Guild promptly called the step a “bullying” tactic by the company.

Some industry observers have expressed skepticism that Times Co. Chairman Arthur Sulzberger Jr. would want his legacy to include the shuttering of the Globe, which his company bought in 1993.

But the Times Co. itself is under strong financial pressure. It recently mortgaged its new Manhattan headquarters, borrowed $250 million from a Mexican billionaire at 14 percent interest, laid off 100 newsroom staffers and cut salaries by 5 percent.

Globe management said in a toughly worded statement: “Filing the WARN notice is a difficult step that we would like to avoid. But, unfortunately, given the state of the negotiations, it is one we must be prepared to take.”

The paper’s circulation dropped 14 percent in the most recent six-month period. The Globe is expected to lose $85 million this year, the company says.


Bank of England Carried Out Pandemic Flu Exercise in 2006, “With Eerie Prescience”

May 4th, 2009

Via: Independent:

With eerie prescience, the City tracked a pandemic using a ‘bird flu’ scenario in 2006 – leaving it better prepared for the effects of the swine flu outbreak.

…

UK financial regulators have rehearsed how a pandemic like the swine flu, now spreading from Mexico, will affect Britain. In the most detailed disaster planning exercise held anywhere in the world, more than 70 City firms, including HSBC and Norwich Union, secretly tested how the crisis would unfold over five months.

The exercise, which began in November 2006, was masterminded by the Bank of England, the Financial Services Authority and the Treasury – the three authorities that monitor financial stability. It was condensed into six weeks, with firms sent updates as the crisis developed.


“It was nothing malicious, Oxford believes, just some flu vaccine research that broke out of containment.”

May 4th, 2009

Via: NPR:

The question, then, is how nasty the virus will end up being. Professor John Oxford at St. Bart’s and the Royal London Hospital says there’s some reason for cautious optimism.

“In one sense, it’s one of the mildest shifts because most people on the planet have got some memory, have come across H1N1 viruses since 1978,” Oxford says.

Even though health officials are calling this new virus H1N1, that’s also the type of virus that’s in wide circulation today. And it has an interesting history. It was the dominant flu virus through the 1920s, ’30s and ’40s. Oxford says it disappeared in 1957, when it was displaced by another flu virus. But then a strain of H1N1 suddenly reappeared in 1977.

“Now where could it have come from?” he asks. “We reckon now, in retrospect, it was probably released accidentally from a laboratory, probably in northern China or just across the border in Russia, because everyone was experimenting with those viruses at the time in the lab.”

It was nothing malicious, Oxford believes, just some flu vaccine research that broke out of containment. The descendents of this virus are still circulating. He notes that most people who have encountered the newly emerged H1N1 virus seem to have developed only mild disease, and he speculates that’s because we have all been exposed to a distant cousin, the H1N1 virus that emerged in the 1970s.

“That escaped virus perhaps will provide some benefit now in the face of this pig thing,” Oxford says.

Research Credit: D


Tiananmen: The Flame Burns On

May 4th, 2009

Via: Guardian:

Twenty years ago tanks rolled into Beijing’s Tiananmen Square to crush the biggest pro-democracy movement in history. Hundreds were killed, thousands jailed and many fled to escape persecution. Here exiled leaders of the student revolution tell their remarkable stories and reveal how, after being forced to build new lives, they remain haunted by its bloody legacy.

Over seven tumultuous weeks of nationwide demonstrations and protests, beginning with the death of the sacked reformer, Hu Yaobang, on 15 April 1989 and ending with the movement’s violent suppression on 4 June, an estimated 100 million people across China demonstrated in support of political reform. The movement was inchoate, contradictory and politically confused but it remains the biggest peaceful pro-democracy movement in human history. For the millions who took part, life would never be the same again.

Last week I listened to a man in his 40s unburden himself of a secret he had carried for two decades. He was a student leader in a major provincial city, and although he was arrested in mid-June 1989, he was released after a month of enforced confessions. He moved to another city and eventually made a successful career. But for 20 years the burden of the hopes that were shattered on 4 June, and the apprehension that he could be targeted at any time by a regime that never forgets and rarely forgives, has weighed on his spirit. It is part fear, part depression, part rage.

Some are still in prison. Others, in mourning, are still harassed. A few campaign openly for a reversal of the Communist Party’s verdict that the movement was the work of “a small clique of counter-revolutionaries” who wanted to overthrow the party and the socialist system. Behind the few high-profile campaigners and dissidents is the much larger throng of those who still nurse memories too painful to discuss.

It’s been two decades since that lone protester defied a column of tanks on Beijing’s Avenue of Eternal Peace, before vanishing, never to be identified. Since that time, China has prospered economically. The party has embraced the market and traded the socialist system it claimed to defend for the pleasures of getting rich. Younger generations are vague about a movement that still cannot be publicly discussed or documented. But the suppression at Tiananmen continues to exact a high price: the constant falsification of history, a political system frozen by the fear of the people’s judgment, and a leadership that sees the ghosts of Tiananmen wherever voices call for political reform.


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