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Thursday, June 4, 2009

In a New York press conference at 16:15 UTC, June 1st, Fritz Henderson, the Chief Executive Officer of General Motors, which filed for bankruptcy and Chapter 11 protection from its creditors earlier today, outlined a plan for what he called a “New GM”.

Speaking to the press under safe harbor provisions of U.S. law, Henderson described the events of today as a “defining moment” in the history of General Motors. Speaking to the public he said that “The GM that let you down is history,” and described a “New GM” that he expected to result from the bankruptcy process.

Henderson stated that he envisioned the bankruptcy process would take between 60 and 90 days. He stressed several times his view that the process would be one that is executed quickly, saying that not just a sense of urgency but “pure unadulterated speed” was his expectation of the process. He emphasized that “GM remains open for business” during the bankruptcy period, continuing to sell and to support its products, and that day one motions had been filed in the bankruptcy court in order to allow this.

Regarding the bankruptcy process he said, “We will do it right. And we will do it once.”

He stated that the plan for General Motors had the support of the United Auto Workers union, the Canadian Auto Workers union, the GM VEBA, and a majority of the unsecured bondholders of GM. He also mentioned that GM had already received €1.5 million in bridge financing from the German government.

In response to questions about the possibility of the United States federal government, a majority shareholder in the restructured company, dictating future product development and strategy, such as the sale of more fuel-efficient and green vehicles; he first observed that the federal government had already stated to him that it had “no real interest in running our business” and that he expected that still to be his job. Of the specific hypothetical scenario where the management of GM wants to make one type of car, because it thinks that it is the right thing for the business, and the U.S. government wants to make another type of car, he stated that “I don’t think it’s going to happen.” Expanding on that point he stated that he expected the “New GM” to focus upon “highly fuel-efficient and green technology”, and that operating both in accordance with U.S. environmental laws and in response to customer demand would naturally result in the New GM producing the types of vehicles that the U.S. government would encourage.

The “New GM” he also expected to focus on “four core brands”, and will size its dealership to match that. He stated that GM would offer a “deferred termination” package to dealers, to allow them to cease dealing in GM vehicles in a managed and gradual way.

He stated that the bankruptcy filings did not cover General Motors’ businesses in Latin America, Europe and the Middle East, and Asia and the Pacific. Of GM’s profitable ventures in China, specifically, he stated that they were “a critical part of the New GM”. In response to questions of whether the New GM would import cars from China to the U.S., he stated the formative company’s core principle that “We build where we sell” applied in both directions, with GM building in China to sell in China and building in the U.S. to sell in the U.S., stating that this shortened supply chains.

He declined to predict when the New GM would return to profitability, stating that the goal was rather to lower the break-even EBIT point for the company. He also declined to speculate upon when the U.S. government would sell its stake in the company, saying that that was a question “better addressed to the U.S. Treasury”, and merely saying that he expected it to be “years, not months” when the U.S. Treasury felt it would give “the right return for taxpayers.”

Friday, April 22, 2005

A bill introduced last week by Republican Rick Santorum in the US senate, S. 786, could prohibit National Weather Service from publishing free forecasts online.

This would have no effect on The National Hurricane Center as the bill exempts forecasts meant to protect “life and property.”

“The weather service proved so instrumental and popular and helpful in the wake of the hurricanes. How can you make an argument that we should pull it off the Net now? What are you going to do, charge hurricane victims to go online, or give them a pop-up ad?” said Dan McLaughlin, a spokesman for Sen. Bill Nelson, D-Fla.

Barry Myers, executive vice president of AccuWeather a service that currently competes with National Weather Service free forecasts , said “the bill would improve public safety by making the weather service devote its efforts to hurricanes, tsunamis and other dangers”.

Last year the NOAA eliminated a policy that had prohibited them from offering services that could be provided by the private industry.

Thursday, May 13, 2010

Wikinews reporter Iain Macdonald has performed an interview with Dr Isabella Margara, a London-based member of the Communist Party of Greece (KKE). In the interview Margara sets out the communist response to current events in Greece as well as discussing the viability of a communist economy for the nation. She also hit back at Petros Tzomakas, a member of another Greek far-left party which criticised KKE in a previous interview.

The interview comes amid tensions in cash-strapped Greece, where the government is introducing controversial austerity measures to try to ease the nation’s debt-problem. An international rescue package has been prepared by European Union member states and the International Monetary Fund – should Greece require a bailout; protests have been held against government attempts to manage the economic situation.

Thursday, October 1, 2009

A tsunami that was generated in the South Pacific by a powerful undersea earthquake has killed at least 110 people, according to authorities.

The majority of the fatalities occurred in Samoa, where rescue workers say at least 84 people were killed. Another 24 people are confirmed dead on American Samoa, while at least seven fatalities have been reported in nearby Tonga.

The US Geological Survey says an 8.0 magnitude earthquake struck early Tuesday local time. It generated waves that devastated coastal areas, knocked down buildings and sent cars floating out to sea.

Strong aftershocks followed the initial earthquake, with at least one measuring a magnitude 5.6. Tsunami alerts were issued for the entire South Pacific region but were later canceled. Survivors fled to high ground and stayed there for hours.

Several villages were destroyed on the southern Samoan coast of Upolu, which is also home to many tourist resorts.

During a flight on from Auckland, New Zealand to Apia, Samoa, Samoan Prime Minister Tuilaepa Sailele Malielegaoi told reporters he was shocked by the disaster. “So much has gone. So many people are gone. I’m so shocked, so saddened by all the loss.”

“The situation is very bad,” said Marie-Francoise Borel, a spokesperson for the International Red Cross, to the CTV News Channel by telephone. “This massive wave has swept across – it’s destroyed villages, it’s destroyed homes, people are in shock.”

The assistant chief executive of Samoa’s disaster management predicted that the death toll in the country could surpass one hundred, saying that searches for bodies in the region are still ongoing.

“They are still continuing the searches for any missing bodies in the area. Some areas have been flattened and the tsunami had brought a lot of sand onshore, so there have been reports the sand has covered some of the bodies. So we need specialised machines to search for bodies that are buried under the sand,” he said.

The communications head for the International Federation of the Red Cross, Jason Smith, told the Al Jazeera news agency that the Red Cross “[…] is working hard through five evacuation centres to provide people with safe places to stay and access to clean water,” estimating that up to 15,000 people in sixty villages were affected by the tsunami.

At the capital of American Samoa, Pago Pago, the tsunami measured 1.57 meters in height. The superintendent of the National Park of American Samoa Mike Reynolds reported four waves as high as six meters. People who experienced the quake said it was long, lasting from 90 seconds to three minutes.

Pago Pago city streets were strewn with overturned vehicles, cars, and debris. Some buildings located only slightly above sea level were completely destroyed by the waves, and power in some locations is not expected to be restored for up to a month. FEMA administrator Craig Fugate said that “we’re focused on bringing in the assistance for people that have been injured, and for the immediate needs of the tens of thousands of survivors down there.”

“The first federal team members are currently en route to American Samoa aboard a Coast Guard plane and will be providing on the ground assessments once they arrive on the island,” Fugate said. “FEMA, who has provisions pre-positioned in a distribution center in Hawaii, is also preparing to send supplies as needed to help meet the immediate needs of the survivors.”

Didi Afuafi, 28, who was riding on a bus in American Samoa when the tsunami struck, described her experiences. “I was scared. I was shocked. All the people on the bus were screaming, crying and trying to call their homes. We couldn’t get on cell phones. The phones just died on us. It was just crazy,” she said. “This is going to be talked about for generations.”

US President Barack Obama declared a major disaster in American Samoa, and has sent federal aid to support local recovery efforts in the US territory.

“My deepest sympathies are with the families who lost loved ones and many people who have been affected by the earthquake and the tsunami,” Obama said. He had earlier pledged in a written statement to give a “swift and aggressive” government response to the disaster.

“I am closely monitoring these tragic events, and have declared a major disaster for American Samoa, which will provide the tools necessary for a full, swift and aggressive response,” Obama said.

During a Wednesday appearance near Washington, D.C., the president said the US was ready to help its “friends” in neighboring Samoa and throughout the region.

In Tonga, seven people were confirmed dead and another three missing, after waves struck Niuatoputapu, a northern island.Acting prime minister Lord Tuita said in a statement that “according to information gathered from Niuatoputapu so far, seven people are confirmed dead, three missing and four with very serious injuries,” Lord Tuita, the acting prime minister, said in a statement. “It is reported that the tsunami did serious damage to the village of Hihifo, which is like the capital of the island.

“The hospital on the island is reported to have suffered major damage; telephone communication has been cut as a result of damage to equipment and facilities on the island; homes and government buildings have been destroyed,” he said.

An airplane was reportedly chartered by Tongan authorities to determine the amount of damage done to Niuatoputapu, but wasn’t able to land.

A compilation of brief news reports for Monday, October 26, 2009.

A fatal car crash has killed a 79-year-old man Framingham, Massachusetts, United States, and seriously injured a woman. The woman is currently being held at Norwood, Massachusetts Hospital and is being treated for serious injuries. It was a single vehicle crash that happened on Route 1 on Saturday afternoon in Walpole, Massachusetts.

The car was heading south when it lost control and struck a utility pole just after 4 P.M. local time on Saturday. The man died at the scene.

Sources

• “Fatal car crash in Walpole” — NBC 10, October 25, 2009
• “Framingham man killed in Walpole car crash.” — Metro West Daily News, October 25, 2009

Ireland has pledged €1.35 million in emergency aid to Ethiopia, in order to help quell the ongoing food crisis in the country.

According to figures by the Ethiopian government released on Friday, the number of people needing food aid in the country is 6.2 million.

Irish Minister of State for Overseas Development Peter Power said that he was “deeply concerned” about the figures.

• “Ireland and Norway donate millions for Ethiopia emergency” — Jimma Times, October 24, 2009
• “€1.3m pledge for Ethiopian crisis” — Independent.ie, October 24, 2009

Saturday, October 1, 2011

Last week, Nature Genetics carried twin studies into the genetics of bipolar disorder and schizophrenia. This special report examines the month’s research into the illnesses in detail, with Wikinews obtaining comment from experts based in Australia, the United States, and the United Kingdom ahead of the U.S. Mental Illness Awareness Week, which starts tomorrow.

Eleven genetic regions were identified; seven of these were for schizophrenia and five of those were hitherto undiscovered. The parallel studies, conducted separately, examined more than 50,000 people worldwide and identified two genetic loci associated with both diseases.

Little is known about the two illnesses, each of which affects around 1% of people and is treated with strong medication. Bipolar sufferers experience extremes of mood – depression and mania, hence the previous name “manic depression” for the illness. Schizophrenia is associated with hearing voices, chaotic thoughts, and paranoia. There is no known cure.

The latest research examined both the healthy and the afflicted, using computers to scan genomes. Inheritance was thought to be a factor from prior knowledge of the diseases as a familial trait, but the original desire had been to isolate a single faulty gene. Instead it has become apparent that the genetic factors are many; in the case of schizophrenia, at most around 30% of the genetic components are thought to have been identified.

The University of Chicago’s Pablo Gejman, a lead researcher on the schizophrenia study, explained to Wikinews in a telephone interview from Buenos Aires, Argentina that “One of the goals of genetic research is to find druggable targets” – to “find treatments at the root of the problem”.

Whilst noting that there is no guarantee the genetic code identified is druggable, Gejman named calcium-activated neurochemical channels in the brain as candidates for new drugs. The channels were linked to schizophrenia in the study.

Gejman explained that a genetic locus called mir137 “suggests an abnormality of gene regulation.” The diseases are so poorly understood that it is uncertain if they are in fact two components of a single spectrum, or even each comprised of multiple illnesses.

The new and “provocative data” gathered showed the significant loci identified were “not part of the pre-existent hypothesis.” Calling this “interesting”, Gejman added that the team found no evidence that dopamine receptors are involved; current drug treatments target dopamine receptors. The findings are “not related to anything we thought we knew [about schizophrenia],” he told our correspondent.

Quizzed about the possibility variations in the genetic factors involved in expressing the diseases explained the variation seen in symptoms, Gejman was uncertain. “We will have the answer, probably, only when we sequence the whole [human] genome.” He notes that the relationship between genotype and phenotype is unclear, and that “We know very little of the genetic architecture of schizophrenia and” other disorders.At the time the results were published, participating scientist Professor Rodney Scott from the University of Newcastle in Australia said “The strength of this research is in the numbers. The findings are robust and give us a lot of statistical power to identify the genetic determinants of schizophrenia.” Scott told Wikinews that “If any single centre tried to undertake such a study, it would require millions of pounds. Since it was a collection of data from across the world the costs were spread. In this era of financial difficulty it will become increasingly difficult to secure funding for this type of project even though the pay-offs will be significant.”

Gejman expressed similar sentiment. “The research budget is not growing, which makes [funding] difficult,” he said, though he felt the cost “is not prohibitive because of the benefits.” “I think that it was money well invested” and “very well spent for the future,” he said, adding that organisations in Europe and the US were aware of the importance of such research.

Gejman also agreed on reliability – the study is “Very reliable because of the sample size; that should provide robust results… [we] have worked with a much larger sample than before.” Scott told us it was “a highly reliable study” that has the potential to lead to new treatments “in the long run”.

Another point was the two genetic loci identified as common to both – how much support do they lend to the notion the diseases are linked? “Until more information is available it is really only suggestive,” says Scott. “Strong enough to say there may be potentially a common pathway that bifurcates to give rise to two diseases.”

“It is an excellent demonstration,” said Gejman “because you have the same chains that are common to both disorders, in fact not just the same chains but also the same alleles.” He stressed uncertainty in how strong the relationship was, however.

Scott said examining how the variation of genetic factors may translate into varied symptoms being expressed “certainly is a good target for future research”; “It is not known how many genetic factors contribute to either of these diseases but it is likely that not all are necessary to trigger disease.” “New questions will always arise from any major study,” he told our reporter. “Certainly, new questions about bipolar and schizophrenia are now able to be formulated on the basis of the results presented in the two reports.”

These weren’t the only studies to look at the two diseases together in September. The British Medical Journal carried research by a team from the University of Oxford and King’s College London that examined mortality rates in England for schizophrenia and bipolar sufferers. They found both groups continued to suffer higher mortality rates than the general population – whilst these included suicides, three quarters of deaths were down to ailments such a s heart conditions. General death rates dropped from 1999 to 2006, but sufferers below 65 saw their death rate remain stable – and the over-65 saw theirs increase.

“By 2006, the excess risk in these groups had risk to twice the rate of the general population, whereas prior to that it had only been 1.6 times the risk, so it increased by almost 40%,” said Dr Uy Hoang of Oxford. The study looked at every discharged inpatient with a diagnosis of either condition in England in the relevant time.

Hoang said at the time of the research’s release that doctors should devote attention to predicting and preventing physical illness associated with mental disorders. His study comes at a time when the UK has launched a “no health without mental health” strategy which does attempt to screen for physical illnesses coinciding with mental illnesses. The government aims to reduce the death rate of those with mental disorders.

Rodney Scott described this research result to Wikinews as “Possibly” connected to genetic association with other hereditary ailments, such as cardiovascular disease; he told us another possibility is that “The continued raised mortality rates may be associated with the diseases themselves.”

“We believe the NHS [National Health Service] and Department of Health need to do more to support research and service development for people with bipolar disorder,” Wikinews was told by Suzanne Hudson, Chief Executive of London-based British charity MDF The Bipolar Organisation. “The provision of specialist services for bipolar is very limited in the UK and the demand for our services is unprecedented.”

“A genetic test for bipolar would be a useful tool but the science and ethics are very complex,” Hudson told us, referring to the Nature Genetics genetic study. “Just because someone has ‘bipolar genes’ does not mean they might go on to develop it. Family studies of bipolar show that this is a likely outcome of genetics research in this area. Even if it were possible to accurately predict bipolar in this way, questions about how you treat that person are difficult. For example do you start medication that is not necessary at that point in time?”

“Current treatment is not satisfactory” because it does not always work and has “side effects,” Gejman told us. Robert Whitaker, a US medical journalist and book author, told an audience in New Zealand at the end of August that evidence suggests antidepressant drugs may make children and teenagers worse – “You see many become worse and end up with a more severe diagnosis, like bipolar illness,” and the suicide risk may increase.

Whitaker blames commercial interests. “The adult market appeared saturated, and so they began eying children and teenagers. Prior to this, few children and youth were seen as suffering from major depression, and so few were prescribed anti-depressants.”

One possible alternative, raised by a connection between depressive illness and inflammation, is aspirin and similar compounds. “The link between inflammation and mood disorders has been known for sometime and the use of aspirin and other drugs in depression is now becoming more common in the literature,” Hudson says. “Any new treatments for bipolar, which is a very complex and co-morbid illness, has to be a good thing.”

Professor Dr. Michael Berk, chairman of psychiatry at Australia’s Deakin University, recently gave a talk to just this effect. Speaking at this year’s Congress of the European College of Neuropsychopharmacology, held this past month, he also highlighted statins as a treatment. Recognising the link to physical ailments, he told an interviewer “The brain does not exist in isolation, and we need to understand that pathways similar to those that underpin risks for cardiovascular disorders, stroke, and osteoporosis might also underpin the risk for psychiatric disorders, and that other treatments might be helpful.”

Berk also touched upon speed of diagnosis and treatment; “Early interventions can potentially improve the outcome” of bipolar sufferers, he told his audience. MDF The Bipolar Organisation claim an average of ten years is possible before a person is diagnosed. “This clearly is an issue, if we believe that earlier diagnosis and treatment facilitate better outcomes,” Berk told Wikinews. Though he questions the effectiveness of currently-used drugs on advanced bipolar cases, he does not go so far as to say drugs are actively harmful. He told us “it appears that our best treatments work best earlier in the illness course; and that seems to apply to psychotherapy and pharmacotherapy.”

Berk has already performed research using statins which suggests they can form a treatment. He now seeks funding for research involving aspirin. On funding, he tells Wikinews “psychiatric disorders comprise between 16% and 22% of the burden of disability (depending on who measures it), attracts^[sic] just over 6% of the clinical budget at least in Australia and 3% of the research budget. Research as a discretionary spending item is at great risk.”

Berk’s research, in the past, has been funded by companies including GlaxoSmithKline. Hudson told Wikinews this did not concern her charity; in fact, they welcomed it. “We believe it is important pharmaceutical companies continue to invest in the development of new medications for bipolar. This is how it works in all other health specialities and mental health should be no different.”

“There is a need for greater education for mental health professionals and GPs [general practitioners] about bipolar [in the UK],” she told us. “As the national bipolar charity we receive many, many calls and requests from GPs and other health professionals for our leaflets and information sheets which is fantastic. We very much welcome opportunities to work together for the benefit of individuals affected by bipolar.”

Wikinews contacted the UK’s National Institute for Clinical Excellence (NICE) to discuss issues raised in this article, including future treatments, genetic screening, and mortality rates. NICE did not respond.

Might statins and/or aspirin improve treatment – might they be cheaper, perhaps, or safer? “This is an area of research promise,” says Berk, “however it is too early to make any clinical treatment claims; [all] we can say is that this needs to be studied in properly designed trials capable of giving a more definitive answer.” And what of possible explanations for the increased mortality rate observed in England? Should researchers look at whether bipolar influences more than just the brain, or if it is linked to other genetic conditions?

“For sure,” he told us. “There is new evidence that similar pathways contribute to the risk for both medical and psychiatric illness, both in terms of lifestyle factors, and biomarkers of risk.”

Sunday, May 18, 2014

The governor of the Bank of England, Mark Carney, has warned that the state of the housing market in the United Kingdom is the current biggest domestic threat to the country’s economy, due to lack of house building, and regulatory issues.

In an interview to be aired on Sky News today, he said the housing market is the “biggest risk” to the economy and has “deep, deep structural problems”. Of house building he said: “There are not sufficient houses built in the UK. To go back to Canada, there are half as many people in Canada as in the UK, twice as many houses are built every year in Canada as in the UK and we can’t influence that.”

“We’re not going to build a single house at the Bank of England. We can’t influence that. What we can influence […] is whether the banks are strong enough. Do they have enough capital against risk in the housing market?”

Carney also said the Bank of England would look into the procedures used to issue loans and mortgages to see if they were being granted appropriately: “We’d be concerned if there was a rapid increase in high loan-to-value mortgages across the banks. We’ve seen that creeping up and it’s something we’re watching closely.”

Kris Hopkins responded to Carney on behalf of the government, saying the government “inherited a broken housing market, but our efforts to fix it are working”. “We’ve scrapped the failed top-down planning system, built over 170,000 affordable homes and released more surplus brownfield sites for new housing. We’ve also helped homebuyers get on the housing ladder, because if people can buy homes builders will build them. Housebuilding is now at its highest level since 2007 and climbing. Last year councils gave permission for almost 200,000 new homes under the locally-led planning system and more than 1,000 communities have swiftly taken up neighbourhood planning. It’s clear evidence the government’s long-term economic plan is working.”

Earlier this month, the Organisation for Economic Co-operation and Development called on the UK government to “tighten” access to the ‘Help to Buy’ scheme introduced by George Osborne and the coalition government in 2013. ‘Help to Buy’ has also recently been criticised by three former Chancellors of the Exchequer — the Conservatives Norman Lamont and Nigel Lawson, and former Labour Chancellor Alistair Darling. Darling said: “Unless supply can be increased substantially, we will exacerbate that situation with schemes like Help to Buy.”