Posts Tagged ‘Family

12
Aug
10

Fed Effort to Aid Recovery Fails to Calm Investors

NEWS
Fed Effort to Aid Recovery Fails to Calm Investors

Thursday, August 12, 2010

More worried about the recovery, the U.S. Federal Reserve has taken a small step to bolster the U.S. economy.

Wrapping up a one-day meeting, the Fed said it will use money from its investments in mortgage securities to buy government debt on a small scale. That could help nudge down long-term rates on mortgages and corporate debt, but wouldn’t have a dramatic impact on stimulating economic growth, economists say.

Perhaps more importantly, the largely symbolic action sends a signal that the Fed sees the recovery weakening and that it stands ready to take more aggressive action, if needed, to keep it on track.

Delivering a more downbeat assessment, the Fed now believes economic growth will be ‘more modest’ than it had anticipated at its late June meeting.

The Fed, citing ‘subdued’ inflation, said it would keep its target for a key interest rate at zero to 0.25 percent for an ‘extended period’.
Investors reacted positively to the statement. Stocks that were down sharply before the announcement made up some lost ground. The Dow Jones industrial average, down about 100 points just before the Fed decision, was down about 40 a short time later. However, the market was likely to fluctuate, as it usually does while investors pore over the Fed’s statement.

Treasury prices rose slightly as investors were pleased by the Fed’s plan to buy government debt, which would reduce the amount of Treasury securities in the market. The yield on the Treasury’s 10-year note, which moves in the opposite direction from its price, fell to 2.77 percent from 2.82 percent just before the announcement.

Economists doubt the Fed can turn around the economy on its own. Some believe additional help from Congress is needed. Others are sceptical that easier credit or even more government aid will persuade Americans to shop more and hire more. Yet others think some jobs – like in construction – will never return to pre-recession levels, as the economy makes a structural shift.
• Latest News & Headlines » Home «
Share

Advertisements
05
Aug
10

Proposition 8, California’s ban on gay marriage, overturned by judge

NEWS
Proposition 8, California’s ban on gay marriage, overturned by judge

Thursday, August 05, 2010

••• Actress Portia de Rossi and her TV talk show wife Ellen DeGeneres have joined the celebration in the U.S. after a judge overturned California’s gay marriage ban.

Geelong-born de Rossi and DeGeneres married legally in 2008, shortly before Californians voted for Proposition 8, which ended gay marriage in the state and sparked furious public debate and a legal challenge.

Two gay couples launched the federal lawsuit challenging Proposition 8, claiming it violated their civil rights and, in San Francisco on Wednesday, Chief U.S. District Judge Vaughn Walker ruled the voter-approved ban violated California’s constitution.
‘I am ecstatic that Proposition 8 has been overturned in the state of California. This is an incredibly exciting and historical day and a big step towards equal rights for all,’ de Rossi, the former star of U.S. TV series Ally McBeal and Arrested Development, wrote in a Tweet to fans.

DeGeneres wrote: ‘This just in: Equality won!’

Judge Vaughn’s ruling will not be the end of the debate or court battles, with the matter likely to be fought all the way to America’s highest court, the Supreme Court.

Gay couples would not immediately be allowed to marry in California.
Judge Vaughn temporarily stayed his order until Friday, giving Proposition 8 backers time to file appeals and seek a long-term stay.

Protect Marriage, a coalition of religious and conservative groups that sponsored the ban, confirmed it would appeal the ruling to the 9th U.S. Circuit Court of Appeals, which would likely be a preview to the final Supreme Court showdown.

In his ruling, Judge Vaughn wrote there was no rational basis for excluding gays and lesbians from marriage and Proposition 8 failed to ‘advance any rational basis in singling out gay men and lesbians for denial of a marriage license’.

‘The evidence shows conclusively that moral and religious views form the only basis for a belief that same-sex couples are different from opposite-sex couples,’ Walker wrote.
• Latest News & Headlines » Home «
Share

02
Aug
10

Doug Suttles happy to eat Gulf seafood

NEWS
Doug Suttles happy to eat Gulf seafood
BP executive ‘absolutely’ would eat Gulf seafood

Monday, August 02, 2010

Earth

One of BP’s top executives said that not only would he eat Gulf seafood, but he would feed it to his family too. While many fear that the unprecedented amount of chemical dispersants, such as Corexit, in the water has turned it into a toxic soup, more water has been opened.
Fears run high, but many in the seafood industry give a different point of view. While acknowledging the amount of toxic chemicals (over 1 million gallons of Corexit) is unprecedented and unlike anything ever seen before; the rigorous testing by the EPA, NOAA and U.S. Fish and Wildlife fisheries have caused some to conclude that seafood is safer than it has ever been.
Water tests, air quality samples and soil tests have been conducted regularly and the data is used to determine which federal and state waters would be closed or opened. With the high amount of testing, some feel the seafood is the safest it’s been.
Others disagree. They want to know exactly what is being tested. What byproducts result from Corexit and oil and are they being tested in the seafood?
Though NOAA has opened more federal waters and people are returning to beaches, there are many who will not eat Gulf Coast seafood, regardless of what Doug Suttles chooses to feed his family.
• Latest News & Headlines » Home «
Share

01
Aug
10

It’s Official: Chelsea Clinton Ties the Knot!

NEWS
It’s Official: Chelsea Clinton Ties the Knot!
Chelsea Clinton marries banker Marc Mezvinsky in star-studded ceremony in New York

Sunday, August 1, 2010

••• Chelsea Clinton has married her longtime boyfriend at an exclusive estate along New York’s Hudson River.

Bill and Hillary Clinton announced in a statement that their daughter wed investment banker Marc Mezvinsky on Saturday night after weeks of secrecy and buildup that had celebrity watchers flocking to the small village of Rhinebeck for the evening nuptials.

‘Today, we watched with great pride and overwhelming emotion as Chelsea and Marc wed in a beautiful ceremony at Astor Courts, surrounded by family and their close friends,’ the Clintons said.
‘We could not have asked for a more perfect day to celebrate the beginning of their life together, and we are so happy to welcome Marc into our family. On behalf of the newlyweds, we want to give special thanks to the people of Rhinebeck for welcoming us and to everyone for their well-wishes on this special day.’

More than 400 guests were expected at the historic estate.
Details of the wedding were kept fanatically close to the vest, with shopkeepers, innkeepers, vendors and restaurateurs sworn to secrecy.

Officials restricted airspace over the estate, and the area will remain a no-fly zone until 03:30 am local time on Sunday.
Roads were also blocked off, and inconvenienced neighbors were soothed with a complimentary bottle of wine.

Some of the celebrities spotted in Rhinebeck for the event included actors Ted Danson and Mary Steenburgen, fashion designer Vera Wang and Madeleine Albright, who was secretary of state during Bill Clinton’s second term as president.

The wedding took place at Astor Courts, a secluded estate along the Hudson River built as a Beaux Arts style playground for John Jacob Astor IV more than a century ago.
The estate features the sort of commanding view that once inspired Hudson River School painters, as well as 20 hectares of buffer space to shield the party from prying eyes.

Chelsea Clinton and Mezvinsky were friends as teenagers in Washington, and both attended Stanford University.

They now live in New York, where Mezvinsky works at G3 Capital, a Manhattan hedge fund. Mezvinsky worked previously at Goldman Sachs as an investment banker.

Clinton completed her master’s degree in public health earlier this year at the Mailman School of Public Health at Columbia University.

Mezvinsky is a son of former U.S. Reps Marjorie Margolies-Mezvinsky of Pennsylvania and Ed Mezvinsky of Iowa, longtime friends of the Clintons.

His parents are divorced.
» Related: Clinton wedding extravaganza special!
• Latest News & Headlines » Home «
Share

31
Jul
10

Weekly Address: Good News on Autos, Obstruction on Small Business

NEWS
Weekly Address: Good News on Autos, Obstruction on Small Business
President Obama Hails Successes of the Restructuring of the Auto Industry, Calls on GOP Leaders to Stop Blocking Aid for Small Businesses

Saturday, July 31, 2010

In this week’s address, President Obama praised the successes of the auto industry restructuring. When his administration decided to invest in the American car companies, some said such a move was bound to fail. But since GM and Chrysler have emerged from bankruptcy, the auto industry has added 55,000 jobs – the strongest growth in 10 years – and for the first time since 2004, all three companies are operating at a profit. The President also called on Republican leaders in the Senate to stop blocking a vote on a bill helping small businesses. Even though this bill will help the recovery, and has been endorsed by groups like the Chamber of Commerce and the National Federation of Independent Business, the Republican Senate leadership continues to hold it hostage to politics by denying an up-or-down vote on the bill.

Hello everyone. I’m speaking to you from the GM auto plant here in Detroit, Michigan, where a hopeful story is unfolding in a place that’s been one of the hardest hit in America.

In the twelve months before I took office, American auto companies lost hundreds of thousands of jobs. Sales plunged 40 percent. Liquidation was a very real possibility. Years of papering over tough problems and failing to adapt to changing times – combined with a vicious economic crisis – brought an industry that’s been the symbol of our manufacturing might for a century to the brink of collapse.

We didn’t have many good options. On one hand, we could have continued the practice of handing out billions of taxpayer dollars to the auto industry with no real strings attached. On the other hand, we could have walked away and allowed two major auto companies to go out of business – which could have wiped out one million American jobs.

I refused to let that happen. So we came up with a third way. We said to the auto companies – if you’re willing to make the hard decisions necessary to adapt and compete in the 21st century, we’ll make a one-time investment in your future.

Of course, if some folks had their way, none of this would be happening at all. This plant might not exist. There were leaders of the “just say no” crowd in Washington who argued that standing by the auto industry would guarantee failure. One called it “the worst investment you could possibly make.” They said we should just walk away and let these jobs go.

Today, the men and women in this plant are proving these cynics wrong. Since GM and Chrysler emerged from bankruptcy, our auto industry has added 55,000 jobs – the strongest period of job growth in more than ten years. For the first time since 2004, all three American automakers are operating at a profit. Sales have begun to rebound. And plants like this that wouldn’t have existed if all of us didn’t act are now operating maximum capacity.

What’s more, thanks to our investments, a lot of these auto companies are reinventing themselves to meet the demands of a new age. At this plant, they’re hard at work building the high-quality, fuel-efficient cars of tomorrow – cars like the plug-in hybrid Chevy Volt that can run 40 miles before taking a sip of gasoline. Throughout Michigan, an advanced battery industry is taking root that will power clean electric cars – an industry that produced only 2 percent of the world’s advanced batteries last year, but will now be able to produce as much as 40 percent in a little over five years. That’s real progress.

There’s no doubt that we have a long way to go and a lot of work to do before folks here and across the country can feel whole again. But what’s important is that we’re finally beginning to see some of the tough decisions we made pay off. And if we had listened to the cynics and the naysayers – if we had simply done what the politics of the moment required – none of this progress would have happened.

Still, even as these icons of American industry are being reborn, we also need to stand shoulder-to-shoulder with America’s small businessmen and women, as well – particularly since they’re the ones who create most of the new jobs in this country.

As we work to rebuild our economy, I can’t imagine anything more common-sense than giving additional tax breaks and badly-needed lending assistance to America’s small business owners so they can grow and hire. That’s what we’re trying to do with the Small Business Jobs Act – a bill that has been praised as being good for small businesses by groups like the Chamber of Commerce and the National Federation of Independent Business. It’s a bill that includes provision after provision authored by both Democrats and Republicans. But yesterday, the Republican leaders in the Senate once again used parliamentary procedures to block it. Understand, a majority of Senators support the plan. It’s just that the Republican leaders in the Senate won’t even allow it to come up for a vote.

That isn’t right. And I’m calling on the Republican leaders in the Senate to stop holding America’s small businesses hostage to politics, and allow an up-or-down vote on this small business jobs bill.

At a time when America is just starting to move forward again, we can’t afford the do-nothing policies and partisan maneuvering that will only take us backward. I won’t stand here and pretend everything’s wonderful. I know that times are tough. But what I also know is that we’ve made it through tough times before. And we’ll make it through again. The men and women hard at work in this plant make me absolutely confident of that.

So to all the naysayers out there, I say this: Don’t ever bet against the American people. Because we don’t take the easy way out. That’s not how we deal with challenge. That’s not how we build this country into the greatest economic power the world has ever known. We did it by summoning the courage to persevere, and adapt, and push this country forward, inch by inch. That’s the spirit I see in this plant today, and as long as I have the privilege of being your President, I will keep fighting alongside you until we reach a better day.
Thanks.

• Latest News & Headlines » Home «
• Source(s): The White House
Share

30
Jul
10

President Obama in Detroit: The Fight for America’s Workers

NEWS
President Obama in Detroit: The Fight for America’s Workers
President Obama hails auto bailout as good news in Michigan

Friday, July 30, 2010

Today the President was in Detroit visiting workers at a Chrysler plant and a GM plant that have not only survived, but found success after critics looking to score political points claimed there was no hope for them. For those critics the President offered a lesson: “Don’t bet against the American worker.”

During the two years since the economy took its hard downward turn, millions of Americans have had to fight with everything they had to stay afloat, to keep food on the table, to keep their businesses in business – and nowhere has that been more true than in Detroit.

The President has also been fighting alongside America’s workers – from the Recovery Act that’s saved or created about 3 million jobs, to the fight today over small business lending – and of course for the workers in Detroit and across America who contribute to the decades-old craft of American cars. When political opponents said that helping the American auto industry survive was a lost cause, and tried to turn public frustration against the President, he stepped in and made the hard choices anyway. There couldn’t necessarily be a life raft for everybody, but he was not going to let a million American jobs fall by the wayside simply because it opened him up for cheap political attacks.
And as the report released yesterday made clear, that investment is paying off: “In the year before GM and Chrysler emerged from bankruptcy, the auto industry shed 334,000 jobs. In the year since, auto industry employment has increased by 55,000 jobs. This is the fastest year-over-year growth in auto employment since 1999.” Not only that, but with a boost from the Recovery Act’s investments in the clean energy economy, the industry has turned toward the future in ways many thought they never could. A quick look at the interactive map released yesterday gives a glimpse of how America can move back to the front of the pack in the coming generation of fuel efficient and electric vehicles.

In his visit to the Chrysler Jefferson North Assembly Plant, speaking to workers who have had to fight just to keep working, it was clear the President felt in a bit of a fighting mood himself:

The President: Investments like those mean jobs for American workers to do what they’ve always done: build great products and sell them around the world.

So the bottom line is this – we’ve got a long way to go, but we’re beginning to see some of these tough decisions pay off. We are moving forward.

I want you to remember, though, if some folks had their way, none of this would have been happening. I just want to point that out. Right? I mean this – this plant – this plant and your jobs might not exist. There were leaders of the “just say no” crowd in Washington – they were saying – oh, standing by the auto industry would guarantee failure. One of them called it “the worst investment you could possibly make.”

Audience: Boo!

The President: They said – they said we should just walk way and let those jobs go.

Audience: Boo!

The President: I wish they were standing here today. (Applause.) I wish they could see what I’m seeing in this plant and talk to the workers who are here taking pride in building a world-class vehicle. I don’t think they’d be willing to look you in the eye and say that you were a bad investment. They might just come around if they were standing here and admit that by standing by a great American industry and the good people who work for it, that we did the right thing. It’s hard for them to say that. You know, they like admitting when I do the right thing. (Laughter.) But they might have had to admit it. And I want all of you to know, I will bet on the American worker any day of the week! (Applause.)

• Latest News & Headlines » Home «
• Source(s): The White House
Share

29
Jul
10

Clinton wedding extravaganza special!

NEWS
Clinton wedding extravaganza special!

Thursday, July 29, 2010

••• Wedding bells aren’t ringing yet, but the cash tills are, as the countdown begins in tiny Rhinebeck to Chelsea Clinton’s celebrity wedding on Saturday.

‘It’s like having the Olympics in your town,’ exclaimed Alex Batkin, manager of the up-market Wing and Clover arts-and-craft boutique.

Like the rest of the world, locals can only guess at details of the secrecy-shrouded marriage between Chelsea, daughter of former president Bill Clinton and Secretary of State Hillary Clinton, and her investment banker beau Marc Mezvinsky.

The guest list remains under wraps, with names as varied as Steven Spielberg and Oprah Winfrey thrown around on gossip websites, but President Barack Obama apparently is not showing.

The location is assumed to be the posh Astor Courts estate just outside Rhinebeck, almost a three hours drive from New York City, though even this has never been confirmed.

In any case, Rhinebeck, population less than 8000, is laying out the welcome mat.

‘Congratulations to Marc and Chelsea!’ a poster in the window of Pete’s Famous Restaurant, an old style diner, says.

‘Mazel tov,’ reads a sign in Samuel’s sweets shop, using the Hebrew for ‘good luck’ in a nod to the Jewish Mezvinsky.
Mixed with goodwill is hunger for good business in a sleepy town shifting from rural roots to the glitzier role of retreat for New York’s wealthy.

Echoing the Clinton family news blackout, no one here will openly discuss their share in the bonanza brought by the expected 400 guests at a no-expenses-spared party. But, clearly, no one wants to be left out.

One of the big winners is believed to be the picturesque Beekman Arms inn, which claims to be the oldest continuously operating hotel in the United States.

Workers were adding a lick of white paint under the roof on Tuesday as staff lugged in suitcases to fully booked rooms.

Asked who was staying, the normally polite front desk clerks became stony faced.

‘No comment,’ one told a reporter. Another conveyed the same message by raising her hands to make an X with two fingers.

Batkin’s store revealed at least one success: a painting bought as a gift for the betrothed.

The picture is emblazoned ‘Chelsea and Marc’ over a naive-style depiction of a wedding cake surrounded by trees, squirrels and a fish-filled river.
Of course, Batkin wouldn’t say how much the painting went for – or to whom.

‘I just can’t,’ he said apologetically.

Across the road at Liquors and Wines, Mike Haley said the supplier for white wine at the party would be Clinton Vineyards from the happily named nearby town of Clinton.

‘It’s light and dry. It goes good with fish or chicken,’ he said.

Haley looked wistfully at his huge selection of bottles. ‘I’d love to supply. I haven’t had a call from them yet, though,’ he said.

Hoping to get at least a few financial crumbs from the wedding table, he did put some bottles of Clinton Vineyards Tribute 2009 in his storefront window.’

Another entrepreneur seeking wedding joy is Rhinebeck Deli, where the menu features the Hillary Clinton-themed ‘Secretary of Steak’.’

Even the Hudson Valley Renegades, a minor league baseball team, wants to get in on the act.’
Their mascot, a man dressed as a raccoon, stood at Rhinebeck’s main crossroads on Tuesday with a sign reading: ‘Chelsea Will U Marry Me?’ Locals and bemused tourists grinned at the sight.’

‘We’re trying to get a little buzz going for the team, so people come down to the park and check us out,’ explained teammate A.J. Tomeny.’

All the excitement would implode spectacularly if it turned out Rhinebeck was not the real wedding location, but an elaborate diversion in the Clinton information war – as a few conspiracy minded locals suspect.’

The Hudson Valley News, a local weekly that has become a must-read for the growing international press corps in the town, says not to worry.’

Without citing sources, the latest edition reports that the wedding will indeed take place at Astor Courts, starting at 6 pm on Saturday and that police will shut down roads in the vicinity.’

‘Congratulations Chelsea and Marc’ the slightly premature front page banner headline reads.’

Drinking coffee in Pete’s Famous Restaurant, 79-year-old Ed Hammond called the hoopla ‘insane’.’

‘I think they’ve lost track of the two people at the centre, the ones actually getting married,’ he said.’

‘Myself, I’ll get the hell out. I’m not much of one for crowds.’
» Related: It’s Official: Chelsea Clinton Ties the Knot!
• Latest News & Headlines » Home «
Share




Calendar

September 2017
M T W T F S S
« Aug    
 123
45678910
11121314151617
18192021222324
252627282930  

Archives

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Join 3 other followers

© Copyright 2010 Dominic Stoughton. All Rights reserved.

Dominic Stoughton's Blog