Friday, January 2, 2009
A group of investors decided to jointly acquire what remains of the bankrupt mortgage lender Indymac Bank by 13,900 million dollars, federal regulators reported on Friday.
The Federal Deposit Insurance (FDIC, for its acronym in Spanish) indicated that a holding company headed by Steven Mnuchin General, co-director general of the private security firm Dune Capital Management, agreed to buy a Indymac in an agreement that was reached Wednesday and could be consummated in late March.
The investors formed a consortium that includes seven members of the investment firm MSD Capital of the company's founder computer Dell Inc., Michael Dell. The new company was called IMB Management Holdings LP.
Indymac, based in Pasadena, California, has been operated by the FDIC under the name of Indymac Federal Bank. Fell into bankruptcy last July.
"We have armed a group of private investors with experience in financial services for the once Indymac to acquire and operate through a new administration with extensive banking experience," said Mnuchin General in a communication. "Will inject significant private capital to enable it to Indymac once more effectively serve their customers and communities."
The other members of society are five private investment firms or hedge funds _J.C. Flowers & Co., Stone Point Capital, Paulson & Co, a fund controlled by the Fund Management of multimillionaire George Soros and a fund controlled by Silar Advisors LP.
Indymac has 33 bank branches in southern California with some 6,500 million dollars in deposits, nearly half of the company when they broke. It also owns a business of servicing debt with a face value of 157,700 million dollars which collects and delivers mortgages to investors, as well as the signing that Financial Freedom is a reverse mortgage company _sistema of private loans with federal insurance.
As part of the agreement, the corporation's government agreed to take losses on some loans from Indymac.
In a complex formula, the new investors would respond by the first 20% of the bank's loan losses, while the federal corporation would assume most of the losses later. In return, the investors agreed to maintain a surveillance program in the provision for housing that was established by the president of the corporation, Sheila Bair, in August.
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Israel destroys houses and the mosque of Hamas in Gaza
0 comments Posted by Lesbond at Friday, January 02, 2009Israel bombed a mosque on Friday that, he said, was used to store weapons, and destroyed the homes of at least 10 suspected extremists of Hamas, but international pressure forced it to allow hundreds Palestinians in third countries with passports to leave the besieged Gaza Strip.
Israel continued to accumulate artillery, armored units and infantry forces on the border with Gaza in an indication that the air offensive that began a week ago against the rulers of Gaza could soon become an attack by land.
At the same time, tend to increase international requests for a cease-fire, and French president Nicolas Sarkozy is expected in the region next week to promote a halt to the violence. Israel has been reluctant to a truce, and the U.S. secretary of state, Condoleezza Rice, said it has no plans to travel to the region.
"Hamas holds hostage the people of Gaza since its illegal coup against the forces of the president (of the Palestinian Authority) Mahmud Abbas," Rice said in Washington on Friday and accused the extremist group to use the territory as a "launching pad" for rockets to Israel. As a result, he said, Palestinians in Gaza carried "a very bad life."
"We work for a ceasefire that does not allow restoring the status quo ante, where Hamas could launch rockets," said Rice. "It is clear that there should be a ceasefire as soon as possible but we want a cease-fire that is lasting and sustainable."
The offensive triggered protests on Friday against Israel in the Middle East, in the Muslim world and parts of Europe.
Israel attacked targets and new Palestinian extremists fired at least 30 rockets into southern Israel. But Israel opened its border with Gaza to leave nearly 300 Palestinians with passports from third countries.
"There is no water, electricity or medicine. It's hard to survive. Gaza is destroyed," said Jawaher Haggi, a Palestinian-American 14 years to cross into Israel. He stated that his uncle died in an air strike when he tried to get medicine for his brother _el of Haggi_ father, who died later by his illness.
Many of the evacuees were women of foreign descent married to Palestinians who left their children. Spouses who did not have foreign citizenship were not allowed to leave.
The Israeli Foreign Ministry reported that the majority of the evacuees were Russian or Eastern Europeans, and they are authorized to request the departure of foreign embassies. He said that the decision had no relation to military plans.
Israel began air attacks on Saturday in a bid to halt weeks of rocket attacks become more frequent and more far-reaching from Gaza. The response has been a major blow to Hamas, but has not decreased their firing of projectiles.
On Friday, rockets injured four Israelis and damaged houses in the city of Ashkelon in southern Israel, police reported.
The Israeli army telephoned some houses in Gaza to warn of an imminent attack. In some cases, also fired a pump noise to warn civilians that homes would be destroyed with missiles, said Palestinian and Israeli authorities.
After destroying the premises of the security forces of Hamas, Israel became the focus group leaders. The Israeli fighter jets attacked some 20 houses that were suspected extremists of Hamas and members of other armed organizations, Palestinians said. A man died in an attack on the Jebaliya refugee camp in northern Gaza.
Other air operations killed five Palestinians, including a teenage boy in eastern Gaza and three children playing in the south of the strip, the official said Mosaiya Hassanain of the Ministry of Health.
At least 400 people in Gaza have died and 1,700 have been injured in the Israeli campaign, Palestinian officials said. Hamas has said that nearly half of the dead was up to their security forces.
The UN humanitarian coordinator for the Palestinian Territories, Maxwell Gaylard, said that at least 100 of the dead were civilians, and many were women and children. The United Nations also said that there was a health and food crisis in Gaza, despite an increase in shipments of humanitarian assistance.
Labels: World News
Thursday, January 1, 2009
China dairy firm president pleads guilty melamine case
0 comments Posted by Lesbond at Thursday, January 01, 2009The president of a Chinese dairy company was on trial on Wednesday with a milk scandal in a poor state that killed at least six children and other diseases caused thousands.
Tian Wenhua, 66, and former general manager of the now bankrupt Sanlu Group, pleaded guilty to charges of producing and selling goods of poor quality, "said state news agency Xinhua.
Tian appeared alongside three other executives of the company in a court of Shijiazhuang, capital of the northern province of Hebei. It is still unclear whether they could be condemned to death.
"(Tian) could face the death penalty for producing and selling contaminated baby milk products, along with three of its top managers in the Intermediate People's Court of Shijiazhuang," said the official China Daily Wednesday.
But the Xinhua report said the maximum sentence for the charges was life imprisonment.
Sanlu executives, partly owned by the New Zealand group Fonterra, not made known cases of Chinese children have developed kidney stones and other complications from drinking milk adulterated with melamine for months before they see the scandal became public in September.
Melamine, an industrial compound used in the manufacture of plastic chairs, tops, dishes, fire-resistant products, and even concrete, has been added to certain foods to circumvent quality tests because of its high nitrogen content.
Another 17 people involved in the production, sale, purchase and melamine adulteration in raw milk were on trial last week.
At least six children died and more than 290,000 have become sick from drinking contaminated milk, further damaging confidence in Chinese products and orders, triggering massive withdrawals worldwide.
Tian told the court Wednesday that he learned about the complaints from consumers for milk in poor condition in mid-May, according to Xinhua cited.
The company ordered a team led by Tian to handle the case, but did not send a written report on the milk powder at the city government of Shijiazhuang until August 2, said Tian.
The Shijiazhuang government did not report the case to senior officials until a month later, which raised speculation that the authorities tried to prevent an outrage stopped organizing the Olympic Games in Beijing.
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Study finds new way to stop lung cancer growth
0 comments Posted by Lesbond at Thursday, January 01, 2009The lung cancer cells produce a compound that helps the spread of the tumor to other parts of the body, according to a finding that could develop new ways to prevent metastasis, researchers reported on Wednesday.
The team identified a protein that "elements versicanos" of the immune system creates inflammation, which can stimulate the growth and spread of lung cancer.
Michael Karin, de la University of California en San Diego, y sus colegas hallaron esto en experimentos con ratones, pero dijeron que la proteína se encuentra en bajos niveles en algunas células pulmonares humanas normales y en otros tejidos.
The versicano is generated in large amounts by cells in the lung cancer, especially when it comes to aggressive tumors, the authors reported in the journal Nature.
Cancer is much more dangerous and difficult to treat when it expands from the original, in this case the lungs to other parts of the body. That process is called metastasis.
The investigators indicated that the results could lead to the development of new treatments to reduce the metastasis of lung cancer, perhaps by blocking the secretion of the protein involved in tumor cells.
The study showed that generates versicano production of immune system proteins called cytokines that cause inflammation, which stimulates the growth and spread of cancer.
"Our research shows that versicano, which is produced by cancer cells, induced an inflammatory response and that this process encourages the metastasis," said Sunhwa Kim, one of the authors.
"This just tells us that versicano block the inflammatory response or we can reduce the incidence of metastasis. However, it is not so easy," he added.
One difficulty is the complexity of the immune system.
Kim, who previously worked in the lab and is now Karin Johnson & Johnson, said the findings are a good start to study the problem in humans focused on this protein.
Worldwide, lung tumors are the leading cause of cancer death in men and second among women. Die annually around 376,000 men and 975,000 women, according to the American Cancer Society.
Caca year detected nearly 1.5 million new cases of lung cancer.
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Taliban insurgents ambushed the convoy of a district chief in southern Afghanistan and killed his 20 bodyguards, said Thursday a funciionario.
Mullah Salaam, district chief of Musa Qala in Helmand province and that time was a member of the ousted Taliban, emerged unscathed from the attack occurred on Wednesday against his caravan, said provincial spokesman.
The spokesman Dawood Ahmadi said two of the attackers were killed in a confrontation that occurred after the ambush in Helmand, a stronghold of Taliban and one of the main drug-producing regions of Afghanistan, the main supplier of heroin in the world.
Taliban group nobody could be reached immediately for comment on the matter and the Interior Ministry in Kabul confirmed the deaths of 20 guards in the payroll of the ministry.
This has been one of the bloodiest attacks against security forces in several months.
The ministry said a woman also was killed in the attack and added that it is expected to give details of the incident.
Afghanistan suffers one of its worst violence since 2005 when the Taliban movement began to regroup after being ousted in the invasion led by the United States after the attacks of September 11, 2001.
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Pope urges solidarity with the global economic crisis
0 comments Posted by Lesbond at Thursday, January 01, 2009Pope Benedict XVI began the New Year on Thursday, calling for global solidarity to fight poverty worsened by the global financial crisis.
The Pontiff, to raise a traditional New Year prayer for peace, said the economic crisis should be considered an opportunity to challenge "the dominant development model and amend it to narrow the gap between the haves and the have-nots.
"The current global economic crisis should also be seen as a test: Are we ready to look at it in all its complexity, and a challenge for the future, not only as an emergency that requires short answers?" He said during Mass in St. Peter's Basilica.
"Are we ready for a thorough review of the dominant development model to correct a concerted and long term?" He asked.
The pope added: "The state of the global environment and, above all, moral and cultural crisis (...) are demanding this, even more than the immediate financial problems."
Benedict XVI added that poverty threaten world peace and urged a new round of solidarity and sobriety.
The pope reiterated his appeal to end the conflict in the Gaza Strip, saying that violence was also a form of poverty and that a large majority of Israelis and Palestinians wanted peace.
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Czech Republic takes the reins of the European Union
0 comments Posted by Lesbond at Thursday, January 01, 2009The Czech Republic on Thursday took command of the European Union for the next six months, in which should help the bloc to manage its worst economic crisis in decades and face the renewed conflict in the Middle East.
Following the mandate of France, whose president Nicolas Sarkozy was launched to deal with several issues ranging from the financial turmoil to climate change, the Czechs have raised fears among other European states on its ability to manage the block.
The Czechs have tried to alleviate those fears, identifying key priorities such as economics, foreign affairs and energy, this highly topical after the Russian decision to cut gas supplies to Ukraine, the main transit country for gas European Union.
"Sarkozy has already called the prime minister (Mirek) Topolanek and congratulated him," said the Deputy Prime Minister for European Affairs Alexandr Vondra live on television.
Then he lit a huge metronome Prague, the symbol of the Czech presidency, but the ceremony was quite discreet since the official launch of the Czech presidency will be held on January 7.
The former communist state of 10 million people has suffered only slightly the economic crisis that has wreaked havoc on the rest of the bloc of 495 million people with stock market crashes, bank failures and job losses.
The minority government's center-right Prime Minister Topolanek has put obstacles to the Lisbon reform treaty, a text designed to streamline decision making in the EU and the country is one of only three EU states who have yet to ratify it.
The Czech president, Vaclav Klaus, a staunch Eurosceptic who has campaigned against further integration with other EU members, despite the prime of his ceremonial office.
Topolanek, who will lead the Czech presidency, will have to deal with these issues together with the already long list of challenges facing the new year, as the Middle East conflict.
In economics, the Czechs expected to grow slightly next year and see unemployment rise to six percent. The decision of other EU governments to assist with public funds to private sector contractors have no problems either, a situation that can cope with the big eurozone countries.
Experts say the success of the Czechs in the presidency of the EU will depend on whether the block used as a platform and if the Executive Committee of the EU or the "big three"-Germany, France and Great Britain take control if Prague does not.
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Russian Gazprom cut gas supplies to Ukraine
0 comments Posted by Lesbond at Thursday, January 01, 2009The Russian state monopoly Gazprom on Thursday halted gas supplies to Ukraine completely at the failure of negotiations on prices for 2009 and the debt of Ukraine, the company reported.
Gazprom spokesman Igor Volobuyev said that the cuts began at 10 am (0700GMT) on Thursday, as planned.
A spokesman for the Ukrainian gas company Naftogaz confirmed the sharp drop of supplies.
There are fears about a supply disruption could lead to a repetition of the European gas crisis of January 2006. Then, a dispute similar between the two countries temporarily halted shipments of gas to much of the continent. Ukraine controls the pipelines through which Russia supplies most of its customers in Europe.
While it cut gas to Ukraine, Gazprom said it has increased the amount of gas shipped by pipelines that serve mainly to Europe, which gets almost one quarter of its gas from Russia.
Russian Prime Minister Vladimir Putin has warned Ukraine not to divert gas to other consumers, saying it could have "very serious consequences" for the country where the fuel flowing to the damaged relations with Europe.
The President Viktor Yushchenko and the Ukrainian prime minister Yulia Tymoshenko issued a statement claiming that would ensure the uninterrupted transit of natural gas to Europe through Ukrainian territory.
Unable to reach an agreement reflects the great political division between Russia and Ukraine.
Gazprom had warned it would interrupt gas supplies unless Ukraine to pay its debt completely 2,100 million dollars and signed an agreement on prices for 2009. But neither of these two conditions are met.
Naftogaz paid $ 1,500 million andalusia RosUkrEnergo businessman with offices in Switzerland, said that according to cover the debt. But Gazprom chairman Alexei Miller said Wednesday night that Gazprom has not yet received the money. Gazprom also said that Ukraine should be 600 million more in penalties for late payment.
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At least 59 people, including several foreigners, died on Thursday at an exclusive nightclub fire in which a thousand revelers celebrating the New Year, police reported.
Police officers indicated that about 130 people were injured as a result of the incident, which erupted shortly after midnight in the Santika Club in Bangkok, an area where there are several entertainment centers.
The officials, who refused to give his name not be allowed to speak with the press, said the club was packed with about 1,000 people. Rescue workers said that there appeared to be more bodies inside the building destroyed by fire.
The overall police, Jongrak Jutanot, said that at least 59 people were killed and that among those injured, were citizens of Australia, Nepal, Japan and Holland. It was not immediately possible to determine the number or nationalities of the foreigners were killed.
Earlier, another general of police, Chokchai Deeprasertwit said the incident could be caused by firecrackers that customers made in the Santika or that sparks off a screen, surrounded by fireworks, which showed the countdown for the arrival New Year in a local scene.
Deeprasertwit reported that the deaths occurred by burns, poisoning and smoke various injuries when customers tried to flee in droves to the club, which had only one door.
A firefighter at the scene, Watcharapong Sri saard said that actually there was another door in the rear of the building, but only the staff knew of its existence. He added that to leave the club needed to go through several staircases and bars located on the side of the window on the second floor, also difficult to escape.
Rescue workers said most of the corpses were in the basement of the club, which usually attract many foreigners and wealthy Thais. The bodies, placed in white bags were arranged in rows in the front parking lot of the establishment, where they were irrigated many shoes of the victims.
A video provided to APTN, the television division of BP, one of several rescue workers showed bloody victims, beaten and burnt drawn dragged the club succeeded in flames or running out the door or windows broken.
The flames wrapped around the building during the rescue operation, and the concrete roof of the building came down shortly afterwards.
A journalist from the AP, who threw a glimpse inside the building, still in flames, said all the objects in it had been reduced to ashes.
Police and paramedics crews reported that the rescue operation was delayed by the intense traffic during the New Year in the district of Ekamai, and the large number of cars parked at the club.
A page on the Internet and entertainment centers in Bangkok said that the club attracts "a multitude of wealthy Thai students, along with Western and European models, who tend to appear there, with a crowd looking to drink whiskey and a big stage .
Another page states that the high ceiling and a huge cross in the main hall makes one feel as if you were walking into a church. "
Labels: World News
The world farewell in 2008 with sighs of relief
0 comments Posted by Lesbond at Thursday, January 01, 2009Hundreds of thousands of celebrities gathered in the frigid Times Square to welcome the new year, joining the rest of the people around the world happy to say goodbye to 2008 in hopes of leaving behind their economic problems.
The icy wind blowing to -17 degrees Celsius (1 degree Fahrenheit) in the area, but that did not stop the joyful meeting covered with felt hats and sleeping bags.
"We are somewhat concerned about the economy, but hope for the best," said Lisa Mills, Danville, Ohio, visiting New York on Wednesday night with her husband and daughter.
Former President Bill Clinton and Sen. Hillary Clinton, who is the secretary of state of President-elect Barack Obama as of January 21, Mayor Michael Bloomberg helped down the famous glass sphere for the Times Square countdown to midnight.
The New Year also brought Unfortunately, Thai rescue workers reported that at least 59 people died, including several foreigners, and wounded 200 others at an exclusive nightclub fire in which a thousand revelers held in Bangkok.
In the splendor of St. Peter's Basilica, Pope Benedict XVI called for "sobriety and solidarity."
During Mass on Wednesday evening, the pope described this period as "marked by uncertainty and concern about the future," but called on the faithful who are not afraid. He urged people to help the families in difficulty and said that Catholic Charities agencies are doing everything possible to support.
In other people tried to forget their problems, at least for one night.
Six luxury cruises passed near the famous Copacabana beach in Brazil while the fireworks sparkled with about 2 million Brazilians gathered.
Robert Philip, a builder of 22 years, watched the spectacle with a beer in hand and no shirt.
"I hope that today will be the beginning of the end of war and crisis," said Felipe, who wore his dark glasses even though it was midnight. "I hope 2009 will bring to President Obama, we can help everyone to have a better life."
In some parts of the United States parties were also victims of the economic crisis. The public celebrations were canceled in communities of Louisville, Kentucky and Nevada Mountains. In Miami Beach, Florida, producers of entertainment ticket sales reported slower than expected for the holidays of celebrities, they say, would have been spent in other years.
In other parts of the world could feel this austere. When Parisians stop buying champagne, oysters and foie gras to dismiss the New Year's Eve, you can be sure that things do not go well.
"We will not hold a big way, we are careful," said Siham Moussa architect of 24 years. "Eat fish during the New Year dinner," he said while some of the luxurious area around the Eiffel Tower buyers reduced their costs for New Year.
Sydney was the first major city in the world to receive the 2009, with a kaleidoscope of light and its port bath caused the jubilation over a million people.
Randolph King, aged 63 and living in York, England, tried to forget the loss of his retirement sitting on a hill near the bay of Sydney and hoping the spectacle of fireworks in the city. "I'm waiting for 2009, because things can not get a lot worse," he said.
Political and religious leaders offered few words of consolation, and most predicted more problems in 2009.
In Greece, a mob damage caused by Thursday morning in about 10 banks and shops in two cars used in the outskirts of Athens, police reported. Authorities reported no injuries or arrested.
In North Korea the traditional publisher of newspapers, controlled by the state, called on people to support leader Kim Jong Il and promote the country's army. The message of this year, accused South Korea of an "anachronistic policy of confrontation," but critics said the U.S. government as usual.
In the Philippines, President Gloria Macapagal Arroyo spoke of hope for the days to come, while in Hong Kong, admitted that some people were too depressed by his monetary problems to join the celebrations. And in Malaysia, the government simply decided not to sponsor any event.
In Iceland, the transmission annual New Year's celebration, which involved the prime minister left the air after a group of protesters attacked the hotel where the event was recorded. The demonstrators threw water balloons and firecrackers at police who responded with tear gas.
The protests, increasingly violent, have been common in Iceland, after the country's economy, one of the first to receive the most severe impacts of the crisis, was imploding under the weight of their debts.
In India, many people were happy to see the end of 2008, during which the country was rocked by terrorist attacks in several cities, culminating in three days of violence in Mumbai that left 164 dead.
"The year 2008 can be described as a year of crime, terrorism, killings and accidents," said Tavishi Srivastava, 51, a clerk from the northern city of Lucknow. "I sincerely hope that 2009 is a year of peace and progress".
At midnight in Japan temples were ringing their bells 108 times, representing the expulsion of demons while 108 worshipers threw coins and prayed.
In Tokyo, dozens of volunteers stirred huge pots of rice soup, placed tents and distributed blankets to the poor.
Labels: World News