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.

Friday, May 3, 2013

With over 100 Guantanamo Bay detainees in a hunger strike against their incarceration, President Barack Obama, on Tuesday, renewed his push for the closure of the facility.

President Obama addressed a news conference at the White House on Tuesday saying he would have a team of officials review the issue before again appealing to Congress to close the prison holding “terror” suspects in Cuba. “I think it is critical for us to understand that Guantanamo is not necessary to keep America safe,” he said. “It is expensive. It is inefficient. It hurts us in terms of our international standing. It lessens co-operation with our allies on counter-terrorism efforts. It is a recruitment tool for extremists. It needs to be closed.”

These remarks were made after 40 US Navy medical staff were sent to the facility to deal with the growing hunger strike that began on February 6 this year, where twenty one inmates are now being force fed; five of those are in hospital. “I don’t want these individuals to die,” President Obama said.

Calls by the Center for Constitutional Rights however, have called for President Obama to transfer men from the facility now; a power he has over Congress. “He should use the certification/waiver process created by Congress to transfer detainees, starting with the 86 men who have been cleared for release,” the New York-based group said.

When asked for greater details about President Obama’s intentions, National Security Council spokeswoman Caitlin Hayden said the president was “considering a range of options for ways that we can reduce the population there,” including “reappointing a senior official at the State Department to renew our focus on repatriating or transferring” lower-risk detainees.

Saturday, December 10, 2005

While this wasn’t Interview with the Vampire, getting a live interview with Jimmy Wales of the Wikimedia Foundation is requiring more work and planning than ever. Four contributors to four different Wikinews language editions (with Swedish, Netherlands, and Polish) arranged to interview “Jimbo” in the Wikinews IRC channel, squeezed in before interviews with a periodical and a cable news source.

Sunday, January 21, 2007

Ricky “The Hitman” Hatton regained the IBF light welterweight title belt he relinquished less than 12 months ago when he defeated Juan Urango in Las Vegas, Nevada tonight.

“The Hitman” won by unanimous decision, as the fight went to 12 rounds. Despite early match odds suggesting Hatton would dominate the fight, this was not the case. Each round was close, but most pundits and judges alike agreed that Urango only won 1 of the 12 rounds, with Hatton taking the other 11.

Despite the unfamiliar confines of Las Vegas, Hatton looked touched by the ringing of football fan-like chants, familiar in British boxing, that rang around the arena, as more than half of it was filled by traveling support from across the atlantic.

Many in the UK will hope Hatton has ended the “curse” that has seen names such as Frank Bruno, Naseem Hamed, Barry McGuigan and others fall short while headlining fights on “The Strip”.

From here, it is widely believed “The Hitman” will move on to fight Jose Luis Castillo in June, again likely in Vegas.

Monday, February 18, 2013

Venezuela’s government has opened a granite processing plant in the state of Bolívar, with the intention of providing about 25% of the granite required nationwide.

Ricardo Menéndez, vice president of the Productive Economic Area, said Venezuelan President Hugo Chávez has yearned for the creation of this project to empower Venezuelan construction. Granito Bolívar is reportedly the most modern Venezuelan granite plant, not consuming community water or electricity, and is also the largest, with a daily capacity to supply enough material for use in construction of about 820 houses.

Menéndez said, “These granite blocks are the natural resources of our country, are the wealth we have as a country and often [some] simply decided to remove this richness from our country and take them to other countries” ^{((es))Spanish language: ?Esos bloques de granito son la riquezas naturales de nuestro país, son las riquezas que tenemos como patria y que muchas veces sencillamente esas riquezas decidieron sacarlas de nuestro territorio nacional y llevarlas a otros países}.

According to Menéndez, with the help of a state plan, Venezuela intends to exploit its 40,000 million cubic meters or more of granite reserves, generating a set of factories. “[T]he central theme is that these plants, all these factories, are for the construction of socialism; that means using our potential, develop the value chain within the country and of course that yields benefits from the point of view of the production system’s organization…. [Granito] Bolívar is not only the vision that historically we had of exposing richness, but the industries, basic industries we have, that level of our workers in the basic industries and in addition the development of the potential we have in the state” ^{((es))Spanish language: ?el tema central es que estas plantas todas estas fábricas son para la construcción del socialismo, eso significa utilizar nuestras potencialidades, dessarrollar la cadena de valor dentro del país y por supuesto que eso genere beneficios desde el punto de vista de la organización del sistema productivo … Bolívar no solamente es la visión que históricamente se tuvo de exponer las riquezas, sino que son las empresas, las empresas básicas que tenemos, ese nivel de nuestros trabajadores de la empresas básicas y adicionalmente el desarrollo del potencial que tenemos en el estado}.

For the construction of the plant, supplied by 23 quarries, the government of Bolívar provided about 30 million bolívares (US$4.7 million) and the national government €2.3 million (US$3 million). Bolívar reportedly has reserves of about 40,000 million tons of red, black, pink and white granite, sufficient for domestic demand for 200 years.

Sunday, March 18, 2007

Pakistan police stormed the offices of television news broadcaster Geo news in the capital city using tear gas and firing rubber bullets in the building.

Police personnel charged into the facility batons drawn and thrashed offices and attacked the staff of GEO News and its sister affiliates the The News International and Jang newspaper, forcing the channel to go off air for more than six hours on Thursday.

The news channel’s attempts to go on air from the port city of Karachi, some 2700 kilometers away, were thwarted by the pro-Musharraf government of Sindh.

Bomb disposal squad backed by federal paramilitary force stormed the Karachi office forcing an immediate evacuation of the premises. The bomb disposal squad took two and half hours to conduct an office to office sweep of the five story building, resulting in damage to computer and camera equipment.

Geo News continuously airing a prerecorded loop of prayers asking God to bless the nation and guide the leaders by granting them mental abilities to make proper decisions in critical times. The loop also continuously showed the footage of the nation’s founder, Qaid-e-Azam Muhammed Ali Jinnah, addressing the first constituent assembly of Pakistan and promising freedom of speech and press, along with clips from riots and military bombing of the former East Pakistan (now Bangladesh).

President Pervez Musharraf came on live phone call within minutes of resumption of transmissions and said, “I apologize for what has happened, I see this as a conspiracy to uproot my government.”

General Musharraf came to power after a blood-less coup in 1999 by overthrowing the democratically elected government of Nawaz Sharif, charging the government with corruption.

Friday, December 10, 2021

On Wednesday, India’s Chief of Defence Staff, General Bipin Rawat died in a helicopter crash in the hills near the Coonoor city of Tamil Nadu. The general was flying to Wellington, Tamil Nadu with 13 others. Among the dead were his wife and other top defence personnel. The aircraft involved in the crash was a Mil Mi-17 v5. The Indian Air Force later confirmed the death of all but one of the 14 persons on the flight.

The helicopter took off from Sulur Air Force Station and was headed to the Defence Services Staff College (DSSC) in Wellington, Tamil Nadu. General Rawat, his wife and his staff were travelling to the DSSC, where Rawat was to address the college’s faculty and student officers. At 12:08 PM local time (0638 UTC), the helicopter lost contact with the Sulur Air force base. It subsequently crashed near a residential colony of private tea estate employees on the outskirts of the hamlet of Nanjappachatiram, Bandishola Panchayat, in the Katteri-Nanchappanchathram area of Coonoor Taluk, Nilgiris district.

Krishnaswamy, an eyewitness told the BBC, “Even the electric poles shook. Trees toppled. There was smoke everywhere, there was a raging flame above the trees. I saw just one person with my own eyes, he was burning, and he fell down.” Reportedly, the crash victims were burnt beyond recognition. The only survivor Group Captain Varun Singh is undergoing treatments in the military hospital in Wellington. The cause of the crash remains unknown but is suspected to be bad weather and poor visibility. The Indian Air Force has initiated an inquiry about the crash to ascertain the reason.

The Defence Minister of India Rajnath Singh expressed deep condolences about the incident and stated, he was “deeply anguished by the sudden demise of Chief of Defence Staff Gen Bipin Rawat, his wife and 11 other Armed Forces personnel in an extremely unfortunate helicopter accident today in Tamil Nadu. His untimely death is an irreparable loss to our Armed Forces and the country.” Rawat was the first Chief of Defence Staff of India who was appointed in December 2019 by the Appointments Committee of the Cabinet.