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Monday, January 31, 2005

Metlife announced on 01/31/05 that they were going to acquire Travelers Life and Annuity from Citigroup. Travelers Life and Annuity is an insurance underwriter. MetLife is a large life insurance and annuities underwriter. MetLife will have to borrow a lot of money to pay for the company, so rating agencies like S&P warn that the AA credit rating of MetLife might be lowered. This would cause the interest rates at which all of MetLife’s debt must be repaid to increase.

Citigroup committed to continue distributing Travelers life insurance and annuities through its Smith Barney stock brokers, Primerica agents, and Citibank branches.

Citigroup was previously known as Travelers Insurance before it bought Citicorp. First the Property and Casualty business of Travelers was spun off, and now the life insurance division has been sold off. This is primarily because insurance underwriters get a lower price to earnings multiple from the stock market because of the cycles and uncertainty associated with the insurance business. Also, having an insurance underwriter and a bank together does not usually create “cross-sell” opportunities, because consumers and businesses almost always buy life insurance and annuities through brokers who have a duty to give them other options. Citigroup will continue to sell insurance through its brokers as before.

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Tuesday, November 4, 2008

Republican John McCain has conceded the election to Democrat Barack Obama. After two years of campaigning, today United States citizens went to the polls to vote for the Presidency and for numerous Senate, House, state and local races across the country. The District of Columbia and at least 32 states had early voting before election day. By October 31, over 23 million people had voted by mail or at early voting locations. Of the approximately 6 million people of known party affiliation who voted early, 58% were Democrats and 42% were Republicans.

Record numbers of voters were expected to the polls on election day. There were reports of technical problems and long lines across the country. Heavy turnouts were reported in Indiana, Ohio, and Wyoming, among other states.

By 11:45 A.M. EST Obama is projected to have won 349 electoral votes to McCain’s 163 votes. The popular vote at this time was 62,992,553 (52%) for Obama, 55,796,823 (46%) for McCain.

Wednesday, December 7, 2005

Australian researchers say they have scientifically proven that stress causes sickness. The Garvan Institute in Sydney has discovered that a hormone, known as neuropeptide Y (NPY) is released into the body during times of stress. Their findings show the hormone can stop the immune system from functioning properly.

“Neuropeptide Y is one of those hormones that gets unregulated or released from neurones when stressful situations occur…it’s known for example that it regulates blood pressure and heart rates so your heart rate goes up but it hasn’t been known that it actually can affect immune cells as well,” said Professor Herbert Herzog, one of the researchers.

Herzog feels it is good to finally have proof of something people have suspected for so long.

“Now we have proven without doubt that there is a direct link and that stress can weaken the immune system and that makes you more vulnerable when you for example have a cold or flu and even in the more serious situations such as cancer can be enhanced in these situations,” said Herzog.

The Garvan Institute study centres on two key events that enable the human body to recognise foreign substances and control invaders. When our body encounters a pathogen (bacteria and viruses), the immune cells retain and interrogate suspects. Their activation is made possible by NPY. These cells then return to the lymph nodes, which are found all over the body, with information about the foreign invaders. The lymph nodes are where decisions about defence are made.

“Most of us expect to come down with a cold or other illness when we are under pressure, but until now we have mostly had circumstantial evidence for a link between the brain and the immune system,” said lead Garvan researcher, associate Professor Fabienne Mackay. “During periods of stress, nerves release a lot of NPY and it gets into the bloodstream, where it directly impacts on the cells in the immune system that look out for and destroy pathogens (bacteria and viruses) in the body.”

In the case of bacteria and viruses, TH1 cells are part of the attack team that is sent out on the ‘search and destroy’ mission. But when their job is done they need to be turned ‘off’ and the immune system reset. The same hormone, NPY, that activates the sentry cells now prompts the TH1 cells to slow down and die.

“Under normal conditions, circulating immune cells produce small amounts of NPY, which enables the immune cells on sentry duty and the TH1 immune cells to operate – it’s a yin and yang kind of situation. But too much NPY means that the TH1 attack is prevented despite the foreign invaders being identified – and this is what happens during stress,” added McKay.

The impact of stress on the body has been observed in athletes. Ph. D researcher at the University of Queensland, Luke Spence, together with the Australian Institute of Sport, studied elite and recreational athletes over five months.

They found elite athletes were more susceptible to respiratory diseases under stress.

“A lot of elite athletes put themselves through vast amounts of physical stress in their training, but also their emotional, psychological stress of feeling the pressure of Australia on their shoulders, wanting to compete and wanting to do their best,” said Spence.

It’s not just athletes who are prone to stress. Pressures at work and at home may cause emotional and mental stress that can be equally damaging. Almost a third of all work absenteeism in Australia is due to illness, costing employers over $10 billion a year.

“I think it has a huge impact for the work force and also for employers – if their employees are constantly stressed, constantly under pressure, they are more likely to get sick,” Spence said.

Further research could lead to the development of new drugs which may inhibit the action of the neuropeptide Y hormone.

Herzog warns people to minimise stress before it becomes a problem.

“Relaxation methods like yoga will help you to prevent that but there will still be people out there that are not responding to that and treatment by interfering with the system will be important,” he said. “There’s obviously some time until such a treatment will be available but this is something we will definitely work towards.”

The Garvan research will be published in the Journal of Experimental Medicine, Volume 202, No. 11.

Sunday, May 21, 2006

A missing 11-year-old girl was found safe on Thursday around 5 a.m. PDT after disappearing May 16 while riding her scooter to a local video store near the north Okanagan town of Armstrong, British Columbia. Carmen Kados left home on her regular two kilometer trip to the local store around 6:45 p.m. Tuesday. She wasn’t seen again after leaving the store around 7:15 p.m.

Carmen’s mother called authorities and reported the young girl missing around 8:45 p.m. — police located her scooter, a cell phone and the video she had rented in a parking lot near the store. Other possessions were found but exact details were not disclosed for investigative purposes, according to Corporal Henry Proce, spokesman for the Royal Canadian Mounted Police.

“The first 24 hours, the first 48 hours, are crucial and as more time elapses you become more and more fearful of a worst-case scenario,” Proce said.

A wide net was cast in hopes of locating Kados — police and as many as 65 search and rescue volunteers searched the largely rural area, scouring railroad tracks, streams, and parking lots. The girl and her alleged abductor were located separately around 5 a.m. Thursday. The suspect in the abduction was identified as a transient known to police. Police indicate that community involvement, including tips and a description of the abductor, were instrumental in locating the suspect.

Kados was brought to Vernon Jubilee Hospital, and her parents joined her there. Police reported she had been injured, but the injuries were not life threatening. Both Kados and her parents are traumatized by the incident; spokesman Proce did not expect they would be making a public statement soon.

“I think anybody that’s a parent can only begin to imagine how it must feel not to know where your child is,” said Proce. “This is a little 11-year-old girl and to not know where she is even for an hour, never mind 36 hours, would be something only a few of us can even imagine.”

Wednesday, March 16, 2011

Israeli military forces today seized a ship claimed to be carrying weapons bound for the Gaza Strip.

The ship, a German-owned and Liberian-flagged freighter named Victoria, had departed from a port in Syria before travelling to Turkey, from where it departed for Alexandria, Egypt. A French company had chartered the vessel, which was intercepted and boarded by Israeli commandos about 200 miles from shore while in international waters.

Victoria was reportedly boarded without incident, and is being taken to Ashdod, a port city in Israel. Three containers of weapons were found on board the ship, though the type or total number are unknown. A further inspection of the cargo will be carried out once the ship reaches Ashdod.

According to Benjamin Netanyahu, the Israeli prime minister, “[o]n the boat we discovered many weapons destined for terror groups in the heart of Gaza.” He also claimed that Iran was responsible for shipping the weapons, saying that “[t]he only certain thing is the source of the weaponry was Iran, and there was a Syrian relay station as well.”

Friday, March 10, 2006

Buffalo, New York —The Common Council of Buffalo voted on Tuesday to send the Elmwood Village Hotel proposal “to committee for further discussion”, after citing the need for more public involvement.

The Elmwood Village Hotel is a development proposal by the Savarino Construction Services Corporation, a project designed by the architect Karl Frizlen of The Frizlen Group. The hotel would be placed on the southeast corner of Elmwood and Forest Avenues in Buffalo.

To make way for the project, at least five buildings located at 1109 to 1121 Elmwood Ave would be demolished. At least two properties on Forest Avenue could also be demolished. The Elmwood properties, according to Eva Hassett, Vice President of Savarion Construction, are “under contract”, but it is unclear if Savarino Construction actually owns the Elmwood properties. Hans Mobius, a former mayorial candidate, is still believed to be the current owner the properties. Mobius also owns 607 Forest Avenue.

The properties 605 and 607 Forest Avenue could also be included in the proposal according to Hassett.

“We would use a Special Development Plan to rezone 1119-1121 Elmwood and 605 Forest to a C-2 zoning category,” stated Hassett. It is possible that Savarino Construction may try to obtain a variance for 605 Forest, which would allow them to enforce eminent domain, should the hotel be allowed to go forward.

The building at 607 Forest was also discussed to be rezoned, but it is unclear what the plans would be for that property. During the February 28 Common Council meeting, Hassett stated that the properties 605 and 607 were “now off the agenda”.

Pano Georgiadis, owner of Pano’s Restaurant at 1081 Elmwood, owns the property at 605 Forest and attended Tuesday’s Common Council meeting.

“Having a hotel is a bright idea. We all love the idea of a hotel, but the way that it is presented, is wishful thinking. This hotel does not fit. It’s like putting two gallons of water in a gallon jug, it does not fit. At the last meeting, the architect admitted that they are planning to put the undergound parking lot and the hotel, right at the property line. If I open my window, I will be able to touch the wall, that goes fifty feet high”, said Georgiadis.

“There is a problem having a seventy-two room hotel and fifty-five parking spaces. That means that all the other cars will spill all over the neighborhood. The footprint is simply too small. If you have a bigger [parking] lot, and a smaller hotel, I will welcome a hotel. I have a parking lot at my own business, and I am chasing people all day long. Remember, the city says it has ‘zero tolerance [for illegal parking]’. Try telling that to the guy from Albany who came to see his kids, that are going to Buffalo State, who would get tickets totaling over a hundred dollars”, added Georgiadis.

The city’s Planning Board is scheduled to meet on March 14, 2006 at 9:00 a.m. about the proposal. Although a discussion will take place, no vote is expected to be taken.

At the moment, none of the properties are zoned for a hotel. Savarino Construction plans on asking for a C2 zoning permit. If that does not work, they plan to implement a new zoning plan called a “special development plan” which would allow for only a hotel on the site. That zone would not be able to be changed.

“This [project] justifies Mobius’s refusal to invest in any maitenance^[sic] or improvements”, on the properties said Clarence Carnahan, a local resident. “Where were the Council persons over the years? Where were the city inspectors over the years, to make sure that he maintained and improved his properties? The government was supposed to be protecting, not being preditorial. I see a predatorial issue here when it comes to this hotel. Over the years: Why has the local government been disfunctional when it came to Mobius’s properties? Refusal to invest in improvements, doesn’t that sound like a slumlord? Maybe I am missing a point here, but what kind of messages does this send to other slumlords that havn’t^[sic] been jailed or fined? It’s [the hotel] trying to be pushed through.”

Carnahan also presented signs for residents and or business owners who are opposed to the hotel, that could be placed in windows or on stakes in the yard. Some of the signs said, ‘No tell hotel’, ‘Hans off, no hotel’, ‘It takes more than a hotel to make a village’. and ‘Keep Elmwood free, no hotel’. Carnahan plans on making more signs for a protest to be held on Saturday March 18, at 2:00 p.m. (EST) on Elmwood and Forest. Some signs were given to individuals after the meeting.

“First things first, Hans is the problem, and I don’t think it has been addressed. Let’s roll back the clock on this project. What can we do with Hans? There is such thing as eminent domain, which could be of greater interest to the community, to seize the property at its lowest assessed value”, said Nancy Pollina, co-owner of Don Apparel with Patty Morris at 1119 Elmwood. “There are so many ideas that have not been explored and we are about to give this parcel away, to a big developer.”

Mobius has not returned any calls by Wikinews regarding the situation.

A freelance journalist writing for Wikinews has obtained a letter, exclusively, addressed to one of the five business owners from Hans Mobius stating:

There is a proposal to develop my property which you are currently renting. Because of opposition to this development, it does not look like it will happen. I will let you know if there any changes.

Despite the letter, there have been no plans or decisions made to end the proposal.

To date, none of the business owners or residents of 1119-1121 Elmwood have received an eviction notice.

Business owners and residents gave an indication of what they would like to see happen at the corner; a project similar to one done locally last year. There, developers renovated two buildings on Auburn and Elmwood Avenues, merging the buildings into one thus allowing for more shop space. Among some of the shops to move in after the development were Cone Five Pottery, The Ruby Slipper, and Abraham’s Jewelers. Prior to the renovation work, the left building in the picture was boarded up for several years. Many of the concerned locals would like to see a similar development on Forest and Elmwood.

Rocco Termini, a developer in Buffalo, proposed a similar design at the February 28 community meeting

In an interview after the February 28 meeting, Termini stated, “I will be willing to take a look at this myself, or I would be more than happy to be partners with Sam, Sam Savarino”, who is President and Chief Executive Officer of Savarino Construction Services Corp.

So far Savarino Construction has no plans to team up with Termini.