NY case underscores Wi-Fi privacy dangers - Yahoo! News
What it should be: "I think it's convenient and polite to have an open Wi-Fi network," said Rebecca Jeschke, whose home signal is accessible to anyone within range."Public Wi-Fi is for the common good and I'm happy to participate in that — and lots of people are," said Jeschke, a spokeswoman for the Electronic Frontier Foundation, a San Francisco-based nonprofit that takes on cyberspace civil liberties issues.
What it is: Wi-Fi and Internet was never invented or intended for criminal use or criminals--of any sort. Why should the innocent pay a price for the dammed? Love good, hate evil. Society is always burdened with what to do about evil, as it infects just about everything. Evil is inconvenient to those who are just. Concentrate on incarcerating the dammed and leave the innocent alone. Open and unsecured Wi-Fi or hotspots, as they were called back in the day before the widespread use of wireless internet, are just as the EFF spokeswoman said.
Sunday, April 24, 2011
Saturday, April 23, 2011
Homeless woman prosecuted for enrolling son in Conn. school - Yahoo! News
Homeless woman prosecuted for enrolling son in Conn. school - Yahoo! News
This is an unfortunate shame. It is as if we as a body of people, who form this country, have no common sense. Why put this woman in jail and kick her friend out? Isn't their another way? The harshness of the law meets these women because they are poor and black or because the law regarding changing school districts is harsh?
This is an unfortunate shame. It is as if we as a body of people, who form this country, have no common sense. Why put this woman in jail and kick her friend out? Isn't their another way? The harshness of the law meets these women because they are poor and black or because the law regarding changing school districts is harsh?
Friday, April 22, 2011
Change Your Eye Color Surgery: Eye Surgery Safety | Suite101.com
Change Your Eye Color Surgery: Eye Surgery Safety | Suite101.com
Some who have undergone this groundbreaking surgery express regrets and have developed vision problems.
Some who have undergone this groundbreaking surgery express regrets and have developed vision problems.
Wednesday, April 20, 2011
State Rep. Charlie Brown: IBLC Condems Affordable Health Care Repeal
State Rep. Charlie Brown
INDIANA BLACK LEGISLATIVE CAUCUS FORMALLY CONDEMNS
U.S. HOUSE REPEAL OF AFFORDABLE HEALTH CARE
U.S. HOUSE REPEAL OF AFFORDABLE HEALTH CARE
INDIANAPOLIS —— Members of the Indiana Black Legislative Caucus today condemned the Republican-controlled U.S. House of Representatives for voting to deny millions of Hoosiers basic health care coverage, including affordable prescription drugs and protections against unreasonable premium increases.
“Today, the Republicans who run the U.S. House have voted to repeal the Affordable Care Act,” said State Rep. Vanessa Summers (D-Indianapolis), chairwoman of the caucus. “This means they are more interested in protecting big insurance companies, rather than the millions of Hoosiers who will benefit from the provisions of this act.”
State Rep. Cherrish Pryor (D-Indianapolis) added, “If this repeal is approved in the U.S. Senate—which thankfully looks very unlikely at this point in time—we would see a return to the days when children with pre-existing medical conditions would be denied coverage, when people who are sick would see coverage cancelled, and when the amount of care a person receives would be based on the arbitrary whims of insurance industry bean-counters, not doctors.”
Caucus members noted that the impact of repealing the Affordable Care Act would be felt across all segments of Indiana’s population:
- More than 21,000 young adults would lose their insurance coverage through their parents’ health plans. (The Act allows young adults to stay on their parents’ plans up to the age of 26 if they do not have coverage of their own.)
- More than 3.8 million Indiana residents with private insurance coverage would find themselves vulnerable again to having insurance companies place limits on how much will be spent on their health care.
- Nearly 280,000 Hoosiers again would be at risk of losing their insurance at the moment they are in an accident or fall sick, simply because of a mistake made on their application for coverage.
- More than 950,000 older Hoosiers who have Medicare coverage would be forced to pay extra for annual check-ups, and they would have to help pay for services like mammograms and colonoscopies.
- More than 66,000 Hoosiers on Medicare would lose the discounts they were set to receive for falling into the “donut hole” coverage gap, which means they would be paying significantly more on their prescription drugs.
“Beyond all of these things, repealing this act would prevent Indiana from getting the federal resources that would help us crack down on unreasonable insurance premium increases,” noted State Rep. Charlie Brown (D-Gary), ranking Democrat on the Indiana House Public Health Committee and a long-time advocate of universal health care.
“In addition, we wouldn’t be getting the federal funds needed to start health insurance exchanges to drive down costs and we wouldn’t have the support needed to start a consumer assistance program designed to protect all of us from the worst insurance industry practices,” Summers continued.
Pryor said, “Repealing this act will bring a return to the worst abuses that created our country’s health care crisis. We are hopeful that the U.S. Senate will do what’s right and stop this travesty by refusing to follow the House’s lead.”
If you have an opinion you would like to share about this issue or any other topics related to Indiana state government, you can contact Rep. Brown directly.
State Rep. Vernon G. Smith: Indiana Dems Moderate Radical Right HB
State Rep. Vernon G. Smith
DEMOCRATS ACHIEVED GOAL OF MODERATING RADICAL REPUBLICAN BILLS
INDIANAPOLIS —— State Rep. Vernon G. Smith (D-Gary) said Indiana House Democrats returned to the Statehouse after gaining concessions on several Republican bills now before the Indiana House of Representatives.
Smith said the protest by Democrats did not cost taxpayers any money as House Republicans claimed. He said the business before the Indiana House and Senate should be completed by the end of April, so no special session is necessary. In addition, House Democrats gave up their daily stipend, while their Republican colleagues collected theirs. The Democrats also were fined $350 per day by the Republican majority for denying a quorum in the House.
“When I calculated what our protest cost me in fines, loss of daily stipend and other expenditures, the figure was more than $8,000,” said Smith. “It has been a significant drain of personal finances, yet it was worth the cost. If we had not left the state to prevent a quorum, these extreme, Republican bills would have decimated our public education system and severely damaged the earning power of working-class families in Indiana.
“The Republicans were pushing these bills through the process as quickly as possible, which prevented proper, public review of these devastating measures,” explained Smith. “The stop-action allowed a timeout for millions of Hoosiers, so they could learn more about what was happening in Indianapolis. Our protest was absolutely necessary.
“With the solid support and thunderous voice of a vast number teachers, in addition to thousands of working families, many from Northwest Indiana, we were able to force the House Republicans to compromise on several of the bills,” added Smith. “The compromises are not perfect, but those particular bills are much better than they were. I appreciate Speaker Bosma’s willingness to negotiate with us and help find solutions to our most serious concerns.”
Smith said the compromises included several areas of contention:
- the so-called “right-to-work” legislation is off the table, preserving collective bargaining rights and preventing Hoosier wages from being drastically reduced;
- the permanent ban on public employee bargaining is off the table in the House;
- collective bargaining rights for teachers is protected;
- enabling legislation for the private takeover of public schools is off the table in the House;
- private school vouchers will be limited to 7,500 students in the first year and 15,000 in the second year, rather than creating the largest voucher program in the country, which would have shifted $1 billion in state tax money from public schools to private schools;
- instead of an outright ban of Project Labor Agreements (PLAs), as originally proposed by Republicans, PLAs will still be able to be included with projects passed by public referendum; and
- the threshold for applying the common construction wage to projects would be $250,000 for 2012 and $350,000 for 2013, instead of the GOP’s original $1 million threshold, which would have had a significant, negative impact on Hoosier workers.
If you wish to share your views or opinions about these issues or any other topics related to Indiana state government, please contact me. Please take a moment—if you have not already done so—to sign up for periodic Statehouse eUpdates about the Indiana State Legislature.
Tuesday, April 19, 2011
Friday, April 15, 2011
Is 'racial resentment' behind health reform backlash?
Is 'racial resentment' behind health reform backlash?
(yes)
Ask a truthful (many are) southern white man how he feels about taking orders from a black man(or woman) . Now ask any man. What did you find out?
Surprised? I'm not. I live with this fact everyday that I am black.
I am reading the Book of Revelation right now, learning about how God warns us humans to repent from our evil ways and all but a few ignore his warnings. If people won't listen to their Creator, why do I expect them to listen to me? We have to stop hindering and mistreating each other. What good comes of it?
"A mob of 10,000 white men destroyed the prosperous black community of Tulsa, known as Greenwood or Black Wall Street. The white community, resenting the success of their African-American neighbors, killed at least 300 black residents, possibly many more. "
(yes)
Ask a truthful (many are) southern white man how he feels about taking orders from a black man(or woman) . Now ask any man. What did you find out?
Surprised? I'm not. I live with this fact everyday that I am black.
I am reading the Book of Revelation right now, learning about how God warns us humans to repent from our evil ways and all but a few ignore his warnings. If people won't listen to their Creator, why do I expect them to listen to me? We have to stop hindering and mistreating each other. What good comes of it?
"A mob of 10,000 white men destroyed the prosperous black community of Tulsa, known as Greenwood or Black Wall Street. The white community, resenting the success of their African-American neighbors, killed at least 300 black residents, possibly many more. "
Thursday, April 14, 2011
Philippine priest in ancient battle with 'demons' - Yahoo! News
Philippine priest in ancient battle with 'demons' - Yahoo! News
"With God by your side, you can do no wrong."
This article is about a priest who left a comfortable lifestyle to serve the Lord in a capacity that many pretend do not exist. He banishes demons and unclean spirits from the souls of humans.
"With God by your side, you can do no wrong."
This article is about a priest who left a comfortable lifestyle to serve the Lord in a capacity that many pretend do not exist. He banishes demons and unclean spirits from the souls of humans.
Thursday, April 7, 2011
Japan: Significant Needs in Remote Quake and Tsunami-hit Areas | Doctors Without Borders
Japan: Significant Needs in Remote Quake and Tsunami-hit Areas | Doctors Without Borders
Oxygen, non-food, medical items and water needed.
Oxygen, non-food, medical items and water needed.
7 Ways You're Exposed to Radiation -- When Should You Worry? (When should you pray.)
7 Ways You're Exposed to Radiation -- When Should You Worry?
We humans should stop poisoning the earth. Radiation affects all living things--animal, plant and human. These facts are based on adult exposure, not children, women in their childbearing years, infants or babies-in-the-womb.
We humans should stop poisoning the earth. Radiation affects all living things--animal, plant and human. These facts are based on adult exposure, not children, women in their childbearing years, infants or babies-in-the-womb.
Wednesday, April 6, 2011
Press Gaggle by Press Secretary Jay Carney aboard Air Force One en route Philadelphia, Pennsylvania - Barack Obama | Government News from the White House and Congress - Senate/House of Representatives
Press Gaggle by Press Secretary Jay Carney aboard Air Force One en route Philadelphia, Pennsylvania - Barack Obama | Government News from the White House and Congress - Senate/House of Representatives
Release Time:
For Immediate Release
Aboard Air Force One
En Route Philadelphia, Pennsylvania
1:06 P.M. EDT
MR. CARNEY: So, here we are flying to Philadelphia. I’m here to gaggle. And I just wanted to quickly brief you on phone calls the President made this morning to Senator Reid and to Speaker Boehner. He had good conversations with both leaders, got an update on negotiations over funding for fiscal year 2011, and will monitor progress as the day progresses -- as the day continues, and will -- he’ll call another meeting at the White House if he believes that that’s required. But for now, he was just getting an update.
Q Can you provide an update on the thinking from the White House now on a short-term CR just until they can finalize these negotiations?
MR. CARNEY: What the President said yesterday is what his position is today, which is that he would entertain a essentially clean, very short-term CR if there were an agreement entrain and all that was necessary was a few more days to essentially file the paperwork and get it through the process on Capitol Hill.
Q Jay, the President said yesterday that he would call another meeting today if there wasn’t an agreement yesterday, and then the next day if there wasn’t an agreement --
MR. CARNEY: No, he said if there wasn’t progress. And we all -- you all have reported that there has been some progress in these conversations, in these meetings. And that’s good, obviously -- not an agreement, but progress. And he will monitor the progress or lack thereof on the Hill and will call a meeting if he thinks it’s necessary.
Q With that said --
Q -- his speech to come back for the meeting?
MR. CARNEY: He’ll call a meeting at whatever hour of the day is necessary if he believes that progress is not being made, because we are very close to a situation that would bring about a shutdown in government. And he thinks it would be the -- highly unnecessary and the height of irresponsibility to not get an agreement when agreement is so clearly within reach.
We are, as we talked about yesterday, the Democrats and the President have shown -- demonstrated a willingness to move more than halfway towards the Republicans, willingness to accept the largest domestic discretionary spending cuts in history, discretionary spending cuts that represent the largest cuts as a percentage of GDP since 1982, cuts in programs that in an ideal world he would not want to have to make.
So he’s -- but also he’s laid out his priorities and the choices that he thinks face us now as we are in these final stages of negotiations.
Q Will the President still go to New York even if he needs to call a meeting?
MR. CARNEY: We have no -- well, that's an “if, if” question, a speculative question. We have no plans to change our schedule. As I said, if a meeting needed to be called -- and as of now, there are reports of progress on the Hill. So I’m not saying -- I’m not saying a meeting will happen or not happen today. It may happen tomorrow if necessary. Or as he said, if he needs to meet tomorrow, he’ll meet tomorrow. If he needs to meet today, he’ll meet today, Thursday, Friday, as the President said yesterday.
Q Is he going to talk about that in either appearance today, about the budget negotiations?
MR. CARNEY: I don't want to anticipate what he’ll say. The trip to Philadelphia, he’ll have a town hall meeting to talk about things that Americans really care about as opposed to bickering in Washington over very small -- small ball.
Q Right, but they care about whether the government will shut down or not, right?
MR. CARNEY: Well, they care about gas prices and they care about how energy prices affect their livelihoods and they care deeply about an energy policy that would reduce our dependence on foreign oil in the long term so that we don't have these kind of situations, the shock that people get when prices go up at the gas pump like they have.
So I think that most Americans would -- you would find are much more worried about that than they are about CR FY2011 budget negotiations.
Q Can I just ask one more -- on the wire, it said, right before we took off, that “U.S. official says Qaddafi appeals to Obama in a letter to halt NATO campaign.” Can you -- do you have anything on that, Jay?
MR. CARNEY: Well, we can confirm that there was a letter, but obviously not the first. And the issue of a ceasefire is, as the President made clear when he announced his decision a number of weeks ago, is that it’s not a question of the conditions to -- the conditions the President laid out were clear, which is action, not words -- cessation of violence, withdrawal from the cities and the menacing sort of positions that the Qaddafi forces had taken. And I would just leave it at that, that words are different from actions.
Q Did he talk to President Karzai this morning about the Koran burning?
MR. CARNEY: He did have a SVTC with President Karzai, but I don’t have a readout on the meeting.
Q Will there be a readout later, do you think?
MR. CARNEY: I’ll have to check. I don’t know.
Q Just real quickly back to the budget, would Democrats and the White House accept a $40 billion tax cut package if it did include the riders?
MR. CARNEY: I’m not going to negotiate the elements of an agreement. What I would say is $40 billion is $80 billion; 33 is 73 -- $73 billion, which the President and the Democrats have shown that they are willing to accept, is a great deal more than halfway towards the Republicans. It is also the very amount of spending cuts that the Speaker of the House, the leader of the Republican Party in the House, and the chairman of the House Republican Appropriations Committee identified initially as their target, their goal -- $73 billion, largest cuts in history.
So that’s our position and we believe that what separates us here is not a question about who is for spending cuts and who is not, but an issue over choices made that are -- need to be made in terms of what the composition of those cuts are and choices that we think are -- need to be made based on priorities like funding for education, funding for medical research, funding for Head Start, and not, as I’ve said before, funding for highway earmarks or military spending that the Pentagon has already said it does not want and does not need.
So those are the choices we believe are on the table.
Q Thank you.
MR. CARNEY: Thanks, guys.
END
1:13 P.M. EDT
Saturday, April 2, 2011
Wednesday, March 30, 2011
Low levels of radiation found in US milk - Yahoo! News
Low levels of radiation found in US milk - Yahoo! News (Yikes! What??!!)
Food and Drug Administration officials say milk radiation levels are expected to drop.
Remember, women in their childbearing years, expectant mothers and parents of children should check with their physician to find out if it is better to avoid milk and other certain food products during this period of elevated radiation risks.
Food and Drug Administration officials say milk radiation levels are expected to drop.
Remember, women in their childbearing years, expectant mothers and parents of children should check with their physician to find out if it is better to avoid milk and other certain food products during this period of elevated radiation risks.
Report: Radiation From Japan Found In Chicago Area - Yahoo! News
Report: Radiation From Japan Found In Chicago Area - Yahoo! News
It's the type of radiation associated with the nuclear facility in Japan.
It's the type of radiation associated with the nuclear facility in Japan.
Friday, March 25, 2011
Tuesday, March 22, 2011
Radiation sensors detect very low levels of radiation in Washington state -- Port Angeles Port Townsend Sequim Forks Jefferson County Clallam County Olympic Peninsula Daily news
Radiation sensors detect very low levels of radiation in Washington state -- Port Angeles Port Townsend Sequim Forks Jefferson County Clallam County Olympic Peninsula Daily news
Radiation detected is said to pose "no threat."
Radiation detected is said to pose "no threat."
Quick Takes: Dick Cheney, HBO style - latimes.com
Quick Takes: Dick Cheney, HBO style - latimes.com
Former U.S. Vice President Dick Cheney on deck for HBO mini-series on his life.
Former U.S. Vice President Dick Cheney on deck for HBO mini-series on his life.
Monday, March 21, 2011
Sunday, March 20, 2011
Radiation found in imported beans from Japan
Taiwaneese officials say a shipment of fava beans was found to have higher than normal radiation levels. The beans were shipped from Japan, far west of the nuclear site, according to a published report. There was only speculation as to how the beans came in contact with radiation.
Elevated Radiation Levels Found in Japanese Food and Water Sources Most Harmful to Children, Expectant Mothers
What happens when radiation is ingested?
What happens when radiation is ingested?
Saturday, March 19, 2011
Dominant chip maker, Japan supply chain worries deepen
Factories closed Friday for the world's fifth largest semniconductor producer
UPDATE 3-Telecom gear makers raise Japan supply chain fears - CNBC
UPDATE 3-Telecom gear makers raise Japan supply chain fears - CNBC
Wednesday, February 23, 2011
2012 Ad Blitz for Obama Planned - WSJ.com
2012 Ad Blitz for Obama Planned - WSJ.com
"Mr. Obama discouraged independent groups from working on his behalf during the 2008 presidential race. Democratic strategists now believe the Obama campaign will give them the green light to create independent advertising efforts for 2012 to rival the well-funded conservative groups that appeared in the 2010 congressional elections."--WSJ
"Mr. Obama discouraged independent groups from working on his behalf during the 2008 presidential race. Democratic strategists now believe the Obama campaign will give them the green light to create independent advertising efforts for 2012 to rival the well-funded conservative groups that appeared in the 2010 congressional elections."--WSJ
Saturday, February 19, 2011
Tuesday, February 15, 2011
New York Stock Exchange Euronext, Deutsche Boerse merger details find approval by board members
A merger of New York Stock Exchange Euronext Liffe, by German-run
Deutsche Boerse, has met with board approval, Tuesday February 15. European and U.S. regulators must approve unnamed trade group before the deal is solidified. Upon approval, it will be the world's largest holder of equities and derivatives.
European markets rose to its highest since 2008 but U.S. markets declined in the wake of dismal sales data and the fact that Exxon says it is running out of places to find oil.
According to an article on Businessweek.com, the newly formed structure, regarding futures market share, mirrors the Chicago Mercantile Exchange Group and U.S. options would be larger than the Chicago Board of Exchange, Inc. The article also said the merger may spur other securities exchange mergers. Financial industry insiders speculate that globally, mergers of established exchanges will fend off competition from upstart exchanges. The article went on to speculate that the CBOE and Nasdaq may be the next merger candidates. These mergers have the potential to positively impact long-term growth.
Hong Kong Exchanges & Clearing Ltd. is today's largest securities exchange in the world and even it wants to keep merger options open.
The response to the news of the merger was tremendous. There were
over 400 comments on the MSNBC news web site, Sunday morning, as a details of the deal were being hammered out. However, many commentators were skeptical of the merger's implications. Some led with conspiracy theory ideas and others expressed concern with regulatory limitations.
"Peter17" explained that profits from stock exchanges belong to the
shareholders not the countries in which they are formed. "If the NYSE
continues to make a profit in the U.S. they will pay taxes in the U.S.," was
the comment left on Friday, when the article was posted.
"Saxon" suggested to investors to buy assets and not to hold (USD) dollars.
More than one commenter said they could not appreciate the full scope of the
merger but felt that it would have an impact. Some even speculated about a
New World Order--reminiscent of chatter three decades past.
On the minds of commentators is globalization and the possibility of a new
United States currency, the Amero, which exists in theory.
"Mygirl1" said the U.S. is making its way toward trading in the theoretical
"Amero"--as the Europeans utilize the Euro in Europe. This commentator also
worried that the world's bankers would head up a "new world order" and
control the world's finances.
But more than a new world order, the newly formed entity will have to title itself to show equity among the participants although Deutsche Boerse will hold 60 percent of the newly-formed merger, the Businessweek article said.
"TruePatriot-445959" said because financiers have always worried about oil-
rich countries trading oil in currencies other than the U.S. dollar, this
merger is helpful and will introduce more regulation and consistency into the
market which is helpful to the United States.
One commentator,"smeagol likes raw fishes," said the merger may fail in that
Frankfurter Boerse has been outbid before in a takeover. However, that was not the case in this instance. Deutsche Boerse was outbid by NYSE Group, in an attempt to acquire the London Stock Exchange in 2006. Frankfurter Boerse is the world's oldest securities exchange--created in the 1500s--and is one of eight owned by Deutsche Boerse.
If the deal is deemed legal by domestic and international regulators, Deutsche Boerse AG (XETRA:DB1) and NYSE Euronext (NYSE:NYX) will combine to create the largest venue for capital raising and equities trading. The combined group will offer clients global scale, product innovation, operational and capital efficiencies, and an enhanced range of technology and market information solutions, according to a press release on the Euronext web site. The profit in the merger is found with the structure's ability to trade futures and options, industry experts claim.
According to a released statement by Euronext, the transaction is structured as a combination of Deutsche Boerse and NYSE Euronext under a newly created Dutch holding company, which is expected to be listed in Frankfurt, New York and Paris. On the NYSE Euronext side, this will be effected through a merger of NYSE Euronext and a US subsidiary of the new holding company in which each NYSE Euronext share will be converted into 0.4700 of a share of the new holding company. On the Deutsche Boerse side, the new holding company will launch a public exchange offer, in which shareholders of Deutsche Boerse may tender their shares of Deutsche Boerse for an equal number of shares of the new holding company.
Following full completion of the contemplated transactions, the former Deutsche Boerse shareholders would own 60 percent of the combined group and the former NYSE Euronext shareholders would own 40 percent of the combined group on a fully diluted basis and assuming that all Deutsche Boerse shares are tendered in the exchange offer. The transaction is expected to close at the end of 2011.
Principal financial advisers to Deutsche Boerse are Deutsche Bank and J.P. Morgan Securities LLC. Principal financial advisers to NYSE Euronext are Perella Weinberg Partners, and BNP Paribas. Legal advisers are Linklaters to Deutsche Boerse and Wachtell, Lipton, Rosen & Katz, Stibbe N.V. and Milbank, Tweed, Hadley & McCloy LLP to NYSE Euronext. Further financial advice is being provided by Credit Suisse, Goldman, Sachs & Co., Morgan Stanley & Co. Inc., and Societe Generale.
The release also said the group will have dual headquarters, in Deutsche Boerse’s newly built green tower near Frankfurt and in New York, at 11 Wall Street, home to the New York Stock Exchange trading floor, and will take advantage of its existing global operations. The Company will be led by a one-tier board with 17 members –15 directors plus the Chairman and the CEO. Of the 15 directors, nine will be designated by Deutsche Boerse and six by NYSE Euronext. Reto Francioni will be Chairman, and will also be responsible for group strategy and global relationship management. Duncan Niederauer will be Chief Executive Officer and will lead an Executive Committee with an equal number of current Deutsche Boerse and NYSE Euronext executives.
The four NYSE Euronext executives are Niederauer as CEO, based in New York, Dominique Cerutti as Head of Technology Services & IT, based in Paris, Lawrence Leibowitz as Head of Cash Trading and Listings and John K. Halvey as General Counsel, both based in New York. The four executives coming from Deutsche Boerse are Andreas Preuss as Head of Derivatives, based in Frankfurt, Jeffrey Tessler as Head of Settlement & Custody, based in Luxembourg, Frank Gerstenschlaeger as Head of Market Data & Analytics and Gregor Pottmeyer as Chief Financial Officer of the combined group, both based in Frankfurt.
Andreas Preuss will assume the role of Deputy CEO and President. Dominque Cerutti will assume the role of President, and Lawrence Leibowitz will assume the role of Chief Operating Officer.
The combined group will have 2010 combined net revenues of EUR[1] 4.1 billion/US$ 5.4 billion, and 2010 EBITDA of EUR 2.1 billion /US$ 2.7 billion, thus becoming the world’s largest exchange group by revenues and EBITDA. Based on 2010 net revenues, the combined group will earn approximately 37percent of total revenues in derivatives trading and clearing, 29 percent in cash listings, trading and clearing, 20 percent in settlement and custody, and 14 percent in market data, index and technology services.
Sources:
Businessweek.com
Euronext.com
MSNBC.com
The Chronicle U.S.A.
MSNBC.com
Deutsche Boerse, has met with board approval, Tuesday February 15. European and U.S. regulators must approve unnamed trade group before the deal is solidified. Upon approval, it will be the world's largest holder of equities and derivatives.
European markets rose to its highest since 2008 but U.S. markets declined in the wake of dismal sales data and the fact that Exxon says it is running out of places to find oil.
According to an article on Businessweek.com, the newly formed structure, regarding futures market share, mirrors the Chicago Mercantile Exchange Group and U.S. options would be larger than the Chicago Board of Exchange, Inc. The article also said the merger may spur other securities exchange mergers. Financial industry insiders speculate that globally, mergers of established exchanges will fend off competition from upstart exchanges. The article went on to speculate that the CBOE and Nasdaq may be the next merger candidates. These mergers have the potential to positively impact long-term growth.
Hong Kong Exchanges & Clearing Ltd. is today's largest securities exchange in the world and even it wants to keep merger options open.
The response to the news of the merger was tremendous. There were
over 400 comments on the MSNBC news web site, Sunday morning, as a details of the deal were being hammered out. However, many commentators were skeptical of the merger's implications. Some led with conspiracy theory ideas and others expressed concern with regulatory limitations.
"Peter17" explained that profits from stock exchanges belong to the
shareholders not the countries in which they are formed. "If the NYSE
continues to make a profit in the U.S. they will pay taxes in the U.S.," was
the comment left on Friday, when the article was posted.
"Saxon" suggested to investors to buy assets and not to hold (USD) dollars.
More than one commenter said they could not appreciate the full scope of the
merger but felt that it would have an impact. Some even speculated about a
New World Order--reminiscent of chatter three decades past.
On the minds of commentators is globalization and the possibility of a new
United States currency, the Amero, which exists in theory.
"Mygirl1" said the U.S. is making its way toward trading in the theoretical
"Amero"--as the Europeans utilize the Euro in Europe. This commentator also
worried that the world's bankers would head up a "new world order" and
control the world's finances.
But more than a new world order, the newly formed entity will have to title itself to show equity among the participants although Deutsche Boerse will hold 60 percent of the newly-formed merger, the Businessweek article said.
"TruePatriot-445959" said because financiers have always worried about oil-
rich countries trading oil in currencies other than the U.S. dollar, this
merger is helpful and will introduce more regulation and consistency into the
market which is helpful to the United States.
One commentator,"smeagol likes raw fishes," said the merger may fail in that
Frankfurter Boerse has been outbid before in a takeover. However, that was not the case in this instance. Deutsche Boerse was outbid by NYSE Group, in an attempt to acquire the London Stock Exchange in 2006. Frankfurter Boerse is the world's oldest securities exchange--created in the 1500s--and is one of eight owned by Deutsche Boerse.
If the deal is deemed legal by domestic and international regulators, Deutsche Boerse AG (XETRA:DB1) and NYSE Euronext (NYSE:NYX) will combine to create the largest venue for capital raising and equities trading. The combined group will offer clients global scale, product innovation, operational and capital efficiencies, and an enhanced range of technology and market information solutions, according to a press release on the Euronext web site. The profit in the merger is found with the structure's ability to trade futures and options, industry experts claim.
According to a released statement by Euronext, the transaction is structured as a combination of Deutsche Boerse and NYSE Euronext under a newly created Dutch holding company, which is expected to be listed in Frankfurt, New York and Paris. On the NYSE Euronext side, this will be effected through a merger of NYSE Euronext and a US subsidiary of the new holding company in which each NYSE Euronext share will be converted into 0.4700 of a share of the new holding company. On the Deutsche Boerse side, the new holding company will launch a public exchange offer, in which shareholders of Deutsche Boerse may tender their shares of Deutsche Boerse for an equal number of shares of the new holding company.
Following full completion of the contemplated transactions, the former Deutsche Boerse shareholders would own 60 percent of the combined group and the former NYSE Euronext shareholders would own 40 percent of the combined group on a fully diluted basis and assuming that all Deutsche Boerse shares are tendered in the exchange offer. The transaction is expected to close at the end of 2011.
Principal financial advisers to Deutsche Boerse are Deutsche Bank and J.P. Morgan Securities LLC. Principal financial advisers to NYSE Euronext are Perella Weinberg Partners, and BNP Paribas. Legal advisers are Linklaters to Deutsche Boerse and Wachtell, Lipton, Rosen & Katz, Stibbe N.V. and Milbank, Tweed, Hadley & McCloy LLP to NYSE Euronext. Further financial advice is being provided by Credit Suisse, Goldman, Sachs & Co., Morgan Stanley & Co. Inc., and Societe Generale.
The release also said the group will have dual headquarters, in Deutsche Boerse’s newly built green tower near Frankfurt and in New York, at 11 Wall Street, home to the New York Stock Exchange trading floor, and will take advantage of its existing global operations. The Company will be led by a one-tier board with 17 members –15 directors plus the Chairman and the CEO. Of the 15 directors, nine will be designated by Deutsche Boerse and six by NYSE Euronext. Reto Francioni will be Chairman, and will also be responsible for group strategy and global relationship management. Duncan Niederauer will be Chief Executive Officer and will lead an Executive Committee with an equal number of current Deutsche Boerse and NYSE Euronext executives.
The four NYSE Euronext executives are Niederauer as CEO, based in New York, Dominique Cerutti as Head of Technology Services & IT, based in Paris, Lawrence Leibowitz as Head of Cash Trading and Listings and John K. Halvey as General Counsel, both based in New York. The four executives coming from Deutsche Boerse are Andreas Preuss as Head of Derivatives, based in Frankfurt, Jeffrey Tessler as Head of Settlement & Custody, based in Luxembourg, Frank Gerstenschlaeger as Head of Market Data & Analytics and Gregor Pottmeyer as Chief Financial Officer of the combined group, both based in Frankfurt.
Andreas Preuss will assume the role of Deputy CEO and President. Dominque Cerutti will assume the role of President, and Lawrence Leibowitz will assume the role of Chief Operating Officer.
The combined group will have 2010 combined net revenues of EUR[1] 4.1 billion/US$ 5.4 billion, and 2010 EBITDA of EUR 2.1 billion /US$ 2.7 billion, thus becoming the world’s largest exchange group by revenues and EBITDA. Based on 2010 net revenues, the combined group will earn approximately 37percent of total revenues in derivatives trading and clearing, 29 percent in cash listings, trading and clearing, 20 percent in settlement and custody, and 14 percent in market data, index and technology services.
Sources:
Businessweek.com
Euronext.com
MSNBC.com
The Chronicle U.S.A.
MSNBC.com
Sunday, February 13, 2011
Deal for the World's Largest Trading Powerhouse in the works
Nearly two decades of trades, buyouts, mergers and takeovers leads to deal, financial world abuzz
A "planned takeover" of New York Stock Exchange Euronext Liffe, by German run
Deutsche Boerse, is in the works this week. Board members began gathering
Sunday, February 13, 2011 to hammer out the details, according to a news
report on the MSNBC web site.
The response to the news of the potential takeover was tremendous. There were
over 400 comments on the MSNBC news web site, Sunday morning.
"Peter17" explained that profits from stock exchanges belong to the
shareholders not the countries in which they are formed. "If the NYSE
continues to make a profit in the U.S. they will pay taxes in the U.S.," was
the comment left on Friday, when the article was posted.
"Saxon" suggested to investors to buy assets and not to hold (USD) dollars.
More than one commenter said they could not appreciate the full scope of the
merger but felt that it would have an impact. Some even speculated about a
New World Order--reminiscent of chatter three decades past.
On the minds of commentators is globalization and the possibility of a new
United States currency, the Amero, which exists in theory.
"Mygirl1" said the U.S. is making its way toward trading in the theoretical
"Amero"--as the Europeans utilize the Euro in Europe. This commentator also
worried that the world's bankers would head up a "new world order" and
control the world's finances.
"TruePatriot-445959" said because financiers have always worried about oil-
rich countries trading oil in currencies other than the U.S. dollar, this
merger is helpful and will introduce more regulation and consistency into the
market which is helpful to the United States.
One commentator,"smeagol likes raw fishes," said the merger may fail in that
Frankfurter Boerse has been outbid before in a takeover.
Frankfurter Boerse is the world's oldest securities exchange--created in the
1500s--and is one of eight owned by Deutsche Boerse.
Deutsche Boerse was outbid by NYSE Group, in an attempt to acquire the London
Stock Exchange in 2006.
Sources:
http://deutsche-boerse.com
http://www.msnbc.msn.com/id/41536645/
http://en.wikipedia.org/wiki/NYSE_Euronext
http://www.msnbc.msn.com/id/41536645/
http://business.newsvine.com/_news/2011/02/11/6034595-german-takeover-of-new
-york-stock-exchange-seen-next-week#comments
http://financial-dictionary.thefreedictionary.com/Frankfurter+B%c3%b6rse
http://en.wikipedia.org/wiki/Eurex
http://en.wikipedia.org/wiki/NYSE_Euronext_Liffe
http://en.wikipedia.org/wiki/NYSE_Euronext
http://en.wikipedia.org/wiki/NASDAQ
http://en.wikipedia.org/wiki/North_American_currency_union
A "planned takeover" of New York Stock Exchange Euronext Liffe, by German run
Deutsche Boerse, is in the works this week. Board members began gathering
Sunday, February 13, 2011 to hammer out the details, according to a news
report on the MSNBC web site.
The response to the news of the potential takeover was tremendous. There were
over 400 comments on the MSNBC news web site, Sunday morning.
"Peter17" explained that profits from stock exchanges belong to the
shareholders not the countries in which they are formed. "If the NYSE
continues to make a profit in the U.S. they will pay taxes in the U.S.," was
the comment left on Friday, when the article was posted.
"Saxon" suggested to investors to buy assets and not to hold (USD) dollars.
More than one commenter said they could not appreciate the full scope of the
merger but felt that it would have an impact. Some even speculated about a
New World Order--reminiscent of chatter three decades past.
On the minds of commentators is globalization and the possibility of a new
United States currency, the Amero, which exists in theory.
"Mygirl1" said the U.S. is making its way toward trading in the theoretical
"Amero"--as the Europeans utilize the Euro in Europe. This commentator also
worried that the world's bankers would head up a "new world order" and
control the world's finances.
"TruePatriot-445959" said because financiers have always worried about oil-
rich countries trading oil in currencies other than the U.S. dollar, this
merger is helpful and will introduce more regulation and consistency into the
market which is helpful to the United States.
One commentator,"smeagol likes raw fishes," said the merger may fail in that
Frankfurter Boerse has been outbid before in a takeover.
Frankfurter Boerse is the world's oldest securities exchange--created in the
1500s--and is one of eight owned by Deutsche Boerse.
Deutsche Boerse was outbid by NYSE Group, in an attempt to acquire the London
Stock Exchange in 2006.
Sources:
http://deutsche-boerse.com
http://www.msnbc.msn.com/id/41536645/
http://en.wikipedia.org/wiki/NYSE_Euronext
http://www.msnbc.msn.com/id/41536645/
http://business.newsvine.com/_news/2011/02/11/6034595-german-takeover-of-new
-york-stock-exchange-seen-next-week#comments
http://financial-dictionary.thefreedictionary.com/Frankfurter+B%c3%b6rse
http://en.wikipedia.org/wiki/Eurex
http://en.wikipedia.org/wiki/NYSE_Euronext_Liffe
http://en.wikipedia.org/wiki/NYSE_Euronext
http://en.wikipedia.org/wiki/NASDAQ
http://en.wikipedia.org/wiki/North_American_currency_union
Friday, February 11, 2011
Editorial: Our Presidential Challenge
On Thursday, President Barack Obama put a challenge to the American People. He said Egypt is in an up rise. Their people have stood up, in the face of slight.
The unspoken question is, have we stood up, American People? Do we write our congressmen, en masse or hold public rallies? If we have done so, do we utilize social media appropriately to announce these societal challenges?
No, for the most part.
The people of Egypt appear to be a common-sense, old-world type of people. If you had a home to be in, wouldn't you be in it? They camp out because they no longer have a place to be. Their homes and families were intact but that is no longer true. Youth can't get jobs and start families. When their family structure is threatened--the people fight to stop it. Women are in a place where they mostly reproduce. They have a big generation of people now to force the issue and have voice.
But the main point is that many of them are homeless. They have no food or water. Many businesses are not open or don't have money to operate and their everyday way of life has been disrupted. The people there fight against this. They were relived temporarily when banks opened but then that apparently has stopped. If they were able to live their everyday life, I think that they would. Without basics like food and water, it becomes dire and impossible. Their whole country is in an uproar. The entire Egyptian class system is shaken. Pharaohs have ruled for thousands of years. The people fought for change and got change, it appears.
I guess the American People handle things differently. If it doesn't show up in the news stream, we won't search for it, lest we be characterized and pointed out as a nut. Okay. (because we know those nuts are the only ones dumb enough to keep up and speak out--no regular people do this.)
Anyway anyone wanting to pay attention, speak up and stand out, please be advised to keep the reading level at sixth grade. Our communication purpose should be to inform, not to impress strangers with our verbal prowess.
Let us take a look at the meaning of the country, Egypt's, name: "home of the ka (soul) of Ptah", the name of a temple to the god Ptah at Memphis.
Ptah is Patron of: creation, craftsmen, artisans.
Appearance: A man with a punt beard, wrapped up like a mummy, but with his hands free which grip a great staff made up of the symbols for life, stability, and power. Sometimes he wears a skullcap crown and stands on the hieroglyph for Maat.
Is this why the mummies in the museums were attacked? Were they trying to wake up the gods?
I dunno.
Source: Tour Egypt
The unspoken question is, have we stood up, American People? Do we write our congressmen, en masse or hold public rallies? If we have done so, do we utilize social media appropriately to announce these societal challenges?
No, for the most part.
The people of Egypt appear to be a common-sense, old-world type of people. If you had a home to be in, wouldn't you be in it? They camp out because they no longer have a place to be. Their homes and families were intact but that is no longer true. Youth can't get jobs and start families. When their family structure is threatened--the people fight to stop it. Women are in a place where they mostly reproduce. They have a big generation of people now to force the issue and have voice.
But the main point is that many of them are homeless. They have no food or water. Many businesses are not open or don't have money to operate and their everyday way of life has been disrupted. The people there fight against this. They were relived temporarily when banks opened but then that apparently has stopped. If they were able to live their everyday life, I think that they would. Without basics like food and water, it becomes dire and impossible. Their whole country is in an uproar. The entire Egyptian class system is shaken. Pharaohs have ruled for thousands of years. The people fought for change and got change, it appears.
"But what is absolutely clear is that we are witnessing history unfold. It’s a moment of transformation that’s taking place because the people of Egypt are calling for change. And they’ve turned out in extraordinary numbers representing all ages and all walks of life, but it’s young people who’ve been at the forefront -- a new generation, your generation, who want their voices to be heard," Pres. Barack Obama said at the start of a speech delivered in Michigan Thursday afternoon, February 10.
I guess the American People handle things differently. If it doesn't show up in the news stream, we won't search for it, lest we be characterized and pointed out as a nut. Okay. (because we know those nuts are the only ones dumb enough to keep up and speak out--no regular people do this.)
Anyway anyone wanting to pay attention, speak up and stand out, please be advised to keep the reading level at sixth grade. Our communication purpose should be to inform, not to impress strangers with our verbal prowess.
Let us take a look at the meaning of the country, Egypt's, name: "home of the ka (soul) of Ptah", the name of a temple to the god Ptah at Memphis.
Ptah is Patron of: creation, craftsmen, artisans.
Appearance: A man with a punt beard, wrapped up like a mummy, but with his hands free which grip a great staff made up of the symbols for life, stability, and power. Sometimes he wears a skullcap crown and stands on the hieroglyph for Maat.
Is this why the mummies in the museums were attacked? Were they trying to wake up the gods?
I dunno.
Source: Tour Egypt
Remarks by the President on Egypt, National Wireless Initiative in Marquette, Michigan
February 10, 2011
Before I begin, I just want to say that we are following today’s events in Egypt very closely. And we’ll have more to say as this plays out. But what is absolutely clear is that we are witnessing history unfold. It’s a moment of transformation that’s taking place because the people of Egypt are calling for change. And they’ve turned out in extraordinary numbers representing all ages and all walks of life, but it’s young people who’ve been at the forefront -- a new generation, your generation, who want their voices to be heard. And so going forward, we want those young people and we want all Egyptians to know America will continue to do everything that we can to support an orderly and genuine transition to democracy in Egypt.
THE PRESIDENT: Have a seat, have a seat. It is wonderful to be here in the Upper Peninsula with so many Yoopers. (Applause.) How many of you are Green Bay fans, too? (Applause.) I’ve been seeing too many Green Bay fans lately. (Laughter.)
It is great to be here. It is great to be at Northern Michigan University. We’ve got some wonderful guests here that I just want to mention. First of all, somebody who is as good a public servant, not just good at what he does but good at heart and works tirelessly on behalf of the entire state, your senior senator, Carl Levin, is here. (Applause.) Now, his partner in the Senate could not be here because she’s actually leading a Democratic caucus retreat, but she’s been fighting for manufacturing, for broadband, for a lot of things that we’re talking about here today. So I just want to acknowledge Debbie Stabenow, who deeply cares about the work that you do up here. (Applause.)
I want to thank the great hospitality of Mayor John Kivela, who has been showing me around town. Thank you so much, Mayor Kivela. (Applause.) The President of Northern Michigan University, Dr. Les Wong, is here. (Applause.) And all of you are here. (Laughter.) And you guys are pretty special. Absolutely.
Now, as we watch what’s taking place, we’re also reminded that we live in an interconnected world. What happens across the globe has an impact on each and every one of us. And that’s why I’ve come to Marquette today -- not only because it’s beautiful, and the people are really nice -- which is true. (Applause.) But I’ve come here because in the 21st century, it’s not just the big cities where change is happening. It’s also in towns like this where the jobs and businesses of tomorrow will take root, and where young and talented Americans can lead. It’s towns like this where our economic future will be won.
Now, in the short term, the best thing we can do to speed up economic growth is to make sure families and businesses have more money to spend, and that’s exactly what -- got a little applause there. (Laughter.) That’s exactly why we passed those tax cuts in December. That’s what it’s doing. Because Democrats and Republicans came together, Americans’ paychecks will be a little bigger this year and businesses will be able to write off their investments and companies will grow and they’ll add workers. But we’ve got more to do.
Our measure of success has to be whether every American who wants a job can find a job; whether this country is still the place where you can make it if you try. In a world that’s more connected and more competitive, other nations look at this moment as their moment, their turn to win the jobs and industries of our time. I see things differently. I see this as America’s moment to win the future, so that the 21st century is the American century just like the 20th century was. (Applause.) Yes we can. (Applause.)
But to do this, we’re going to have to up our game, Marquette. We got to up our game. To attract the best jobs, the newest industries, we’re going to have to out-innovate, out-educate, out-build. We’re going to have to out-hustle the rest of the world. (Applause.) That means investing in cutting-edge research and technology, like the new advanced battery manufacturing industry that’s taking root right here in the state of Michigan. It means investing in the skills and training of our people, just like it’s taking place at this university. It means investing in transportation and communications networks that move goods and information as fast as possible.
And to make room for these investments, we’re going to have to cut whatever spending we can do without. We’ve got a real issue with debts and deficit, and so we’ve got to live within our means. And that means that we’ve got to cut out things that aren’t adding to growth and opportunity in order to invest in those things that are.
And that’s why I’ve proposed that we freeze annual domestic spending for the next five years. That will reduce the deficit by more than $400 billion over the next decade. It will bring spending to the lowest share of our economy since Eisenhower was President. That’s a long time ago. Even I wasn’t born then. (Laughter.)
So government has to do what American families do every day: live within our means. But even as we do so, we can’t sacrifice our future. I’ll just give you guys an analogy. If you’re trying to cut back in your family, you might decide, we’re not going to go out to dinner so often; maybe we’ll skip the vacation; we’re not going to remodel the kitchen. But you wouldn’t stop saving for your child’s college education. You wouldn’t stop saving for your own retirement. If your boiler was broken or your roof had a leak, you’d still go ahead and make those investments.
Well, the same is true with our country. We’ve got to cut out the equivalence of eating out and vacations. I know there may be some restaurant owners here -- go eat at their restaurants -- (laughter) -- but I’m just making a general point. Even as we cut out the things we can afford to do without, we got a responsibility to invest in those areas that will have the biggest impact on our future, and those things are innovation, education and infrastructure.
And that last area –- infrastructure -– is why I’ve come here today. Connecting a country of our size has never been easy. Just imagine what Americans experienced when they fanned out from 13 colonies to settle a continent. If you wanted to get from one coast to the other, it would take you months; it would cost you a small fortune. If you settled in the heartland, you were an island, with no real market to sell your goods or buy what you needed. You might have to wait until the traders came by before you stocked up.
So we decided to build a railroad to span a continent -– one that would blast through mountains of granite and use thousands of miles of steel, and put to work an army of citizens and immigrants to work. It was an endeavor that would also require support of our government. It didn’t just happen on its own. As General William T. Sherman said, “Uncle Sam is the only giant I know who can grapple the subject.”
So even as President Lincoln tried to hold the North and South together, he was determined to see this railroad unite East and West. And private companies joined the charge, racing one another to meet in the middle. And eventually, a telephone operator -- a telegraph operator sent out a simple message to the cheers of a waiting nation. The telegraph just said: “Done.” Done. Now, if he knew that we were still talking about it today, he might have come up with something more inspiring. (Laughter.)
But overnight, the transcontinental railroad laid the way for a nationwide economy, not a bunch of local economies, but a nationwide economy. Suddenly, a cross-country trip was cut from months to days. The cost to move goods and mail plummeted. Cowboys drove cattle to railcars that whisked them back East. Entrepreneurs could sell anything, anywhere.
After the railroad was completed, a newspaper proclaimed: “We are the youngest of peoples. But we are teaching the world to march forward.” Teaching the world to march forward.
That’s who we are. We are a nation that has always been built to compete. And that’s why, decades later, FDR set up the Rural Electrification Administration to help bring power to vast swaths of America that were still in darkness. Companies said that building lines to rural areas would be too costly. I mean, big cities already had electricity. But they said, it’s too costly to go out into remote areas. It’s too costly to come up into the Upper Peninsula.
So Americans in these towns went without refrigeration or running water. If you wanted a glimpse of the larger world, your town might run a movie off a small diesel engine. It might not even last the full film.
Once power lines were laid down, electricity flowed to farms across the country, transforming millions of lives. There’s a well-known story of a Texas family returning home the first night their farmhouse was hooked up, and a woman thought it was on fire. And her daughter said, “No, Mama, the lights are on.” Think about that. That wasn’t that long ago, and government was there to help make sure that everybody -- everybody, not just some -- but everybody -- not just those who folks could make an immediate profit off of -- but everybody had access to electricity.
So years later, as our nation grew by leaps and bounds, we realized that a patchwork system of back roads and dirt paths couldn’t handle the biggest economy in the world. So President Eisenhower helped make it possible to build an Interstate Highway System, and that, too, transformed the nation -- as much as the railways had.
And finally, we could ship goods and services to places that the railroads didn’t reach. It meant that we could live apart from where we worked. We could travel. We could see America.
Each of these achievements -- none of them just happened. We chose to do them. We chose to do big things. And every American benefited -– not just from new conveniences. Not just from the jobs created by laying down new lines or tracks or pavement. We benefited enormously from new economic growth -– from the scores of businesses that opened near each town’s new train station, or new power line, or new off-ramp.
So this is a new century, and we can’t expect tomorrow’s economy to take root using yesterday’s infrastructure. We got to think about what’s the next thing, what’s the next big thing, and make sure that we’re at the forefront -- just like we were in the last century.
Today, new companies are going to seek out the fastest, most reliable ways to move people, goods and information, whether they are in Shanghai or in Chicago. So if we want new jobs and businesses here in America, we’ve got to have the best transportation system and the best communication network in the world. It’s like that movie, Field of Dreams: If we build it, they will come. (Laughter.) But we’ve got to build it. We’ve got to build it.
Over the last two years, we’ve begun rebuilding for the 21st century. This is a national project that has meant thousands of jobs for the hard-hit construction industry. And I’ve now proposed redoubling these efforts. We want to put more Americans to work repairing crumbling bridges and roads. Within 25 years, our goal is to have 80 percent of Americans with access to high-speed rail, which could allow you to go to places in half the time it takes by car. Within five years, we want to make it possible for businesses to put high-speed wireless services in reach of virtually every American.
And that last part, high-speed wireless, is why I chose to come to Northern Michigan University today. (Applause.) Now let me give you some context. Today, more than 90 percent of homes in South Korea subscribe to high-speed broadband. They just have better networks than we do. In America, the nation that created the Internet -- by the way, because of government investment; it didn’t just happen by itself magically -- because of government R&D, we created the Internet, but yet only 65 percent of households here in America can say the same. When it comes to high-speed Internet, the lights are still off in one-third of our households. One out of every three households in America don’t have that same access. For millions of Americans, the railway hasn’t showed up yet.
For our families and our businesses, high-speed wireless service, that’s the next train station; it’s the next off-ramp. It’s how we’ll spark new innovation, new investment, new jobs.
And you know this here in Northern Michigan. That’s why I showed up, in addition to it being pretty and people being nice. (Laughter and applause.) For decades now, this university has given a new laptop to every incoming student. Wi-Fi stretched across campus. But if you lived off-campus, like most students and teachers here, you were largely out of luck. Broadband was often too expensive to afford. And if you lived a bit further out of town, you were completely out of luck, because broadband providers, they often won’t build networks where it’s not profitable, just like they wouldn’t build electrical lines where it wasn’t profitable.
So this university tried something new. You partnered with various companies to build a high-speed, next-generation wireless network. And you managed to install it with six people in only four days without raising tuition. Good job. Good job, Mr. President. (Applause.) By the way, if you give me the name of these six people -- (laughter) -- there’s a whole bunch of stuff in Washington I’d like to see done in four days with six people. (Laughter.)
So today, this is one of America’s most connected universities, and enrollment is near the highest it’s been in 30 years.
And what’s more -- and this is what makes this special -- you told nearby towns that if they allowed you to retrofit their towers with new equipment to expand your network, then their schools, their first responders, their city governments could use it too. And as a result, police officers can access crime databases in their cars. And firefighters can download blueprints on the way to a burning building. And public works officials can save money by monitoring pumps and equipment remotely.
And you’ve created new online learning opportunities for K-12 students as far as 30 miles away, some of whom -- (applause) -- some of whom can’t always make it to school in a place that averages 200 inches of snow a year. (Laughter and applause.) Now, some of these students don’t appreciate the end of school [snow] days. I know Malia and Sasha get really excited about school [snow] days. Of course, in Washington things shut down when there’s an inch of snow. (Laughter.) But this technology is giving them more opportunity. It’s good for their education, it’s good for our economy. In fact, I just came from a demonstration of online learning in action. We were with Professor Lubig and he had plugged in Negaunee High School -- (applause) -- and Powell Township School in Big Bay. (Applause.) So I felt like the guy in Star Trek. I was being beamed around -- (laughter) -- across the Upper Peninsula here. But it was remarkable to see the possibilities for these young people who are able to, let’s say, do a chemistry experiment, and they can compare the results with kids in Boston.
Or if there’s some learning tool or material they don’t have immediately accessible in their school, they can connect here to the university, and they’re able to tap into it.
It’s opening up an entire world to them. And one of the young people who I was talking to, he talked about foreign policy and what we were seeing in places like Egyptian. And he said, what’s amazing especially for us is that now we have a window to the entire world, and we can start understanding other cultures and other places in ways that we could never do without this technology.
For local businesses, broadband access is helping them grow and prosper and compete in a global economy. In fact, Marquette has been rated one of the top five “eCities” in Michigan for entrepreneurship. (Applause.) That’s right.
So here’s a great example, Getz’s Clothiers. (Applause.) The Getzes are here. Where are the Getzes? They’re around here somewhere. There they are right there.
This is a third-generation, family-owned, Marquette institution. They’ve occupied the same downtown store for more than a century -– but with the help of broadband, they were recently listed as one of America’s 5,000 fastest-growing companies. Now how did they pull that off? (Applause.)
Obviously they’ve got great products, great service. But what’s also true is online sales now make up more than two-thirds of their annual revenue. Think about that. You got a downtown department store; now two-thirds of its sales are online. It can process more than 1,000 orders a day, and its workforce has more than doubled. So you’ve got a local business with a global footprint because of technology.
Now, if you can do this in snowy U.P. -- (laughter) -- we can do it all across America. In fact, many places already are. So in Wagner, South Dakota, patients can receive high-quality, lifesaving medical care from a Sioux Falls specialist who can monitor their EKG and listen to their breathing -- from 100 miles away. In Ten Sleep, Wyoming -- I love the name of that town, Ten Sleep -- it’s a town in Wyoming of 300 people. A fiber-optic network allowed a company to employ several hundred teachers who teach English to students in Asia over the Internet, 24 hours a day. You’ve all heard about outsourcing. Well, this is “insourcing” -- where overseas work is done right here in the United States of America. (Applause.)
So we want to multiply these stories -- we want to multiply your story -- all over the country. We want to invest in the next generation of high-speed wireless coverage for 98 percent of Americans.
This isn’t just about faster Internet or being able to find a friend on Facebook. It’s about connecting every corner of America to the digital age. It’s about a rural community in Iowa or Alabama where farmers can monitor weather across the state and market across the globe. It’s about an entrepreneur on Main Street with a great idea she hopes to sell to the big city. It’s about every young person who no longer has to leave his hometown to seek new opportunity -- because opportunity is right there at his or her fingertips. (Applause.)
So to make this happen, we’re going to invest in research and development of emerging technologies and applications. We’re going to accelerate breakthroughs in health and education and transportation, and deploy a new nationwide, interoperable wireless network for first responders -– making sure they’ve got the funding and the frequencies that they were promised and that they need to keep us safe. (Applause.) It’s important. By selling private companies the rights to these airwaves, we won’t just encourage private investment and expand wireless access; we’re actually going to bring in revenues that lower our deficits.
Now, access to high-speed Internet by itself won’t make a business more successful, or a student smarter, or a citizen more informed. That takes hard work. It takes those late nights. It takes hustle. It takes that quintessentially American drive to be the best. That’s what’s the most important ingredient for our success.
But we’ve always believed that we have a responsibility to guarantee all our people every tool necessary for them to meet their full potential. So if they’re willing to work hard, they can succeed. And in a 21st-century economy, that has never been more important. Every American deserves access to the world’s information. Every American deserves access to the global economy. We have promised this for 15 years. It’s time we delivered on that promise. (Applause.) It’s time we delivered on that promise.
So connecting our people. Competing with the rest of the world. Living within our means without sacrificing what’s required to win the future. We can do all this because we’ve done it before.
In 1960, at the height of his presidential campaign, JFK came to Michigan. And it was a moment similar to this one. Other nations were doing their best to try to take our place at the top. And here in Michigan, he made it clear that if we wanted to keep from being knocked off our perch, there could only be one goal for the United States. It could be summed up in one word: “first.” First.
“I do not mean first, but,” he said. “I don’t mean first, when. I don’t mean first, if. I mean first -– period.” And “The real question now,” he continued, “The real question,” he continued, “is whether we’re up to the task –- whether each and every one of us is willing to face the facts, to bear the burdens, to provide the risks, and to meet our dangers.” That was 50 years ago. But things haven’t changed in terms of what’s required to succeed.
And we were up to the task then. I believe we’re up to the task today. Time and again, whether westward or skyward, with each rail and road that we’ve laid, in every community, we’ve connected with our own science and imagination, and we forged anew our faith that we can do anything. We do big things. That’s who we are. And that’s who we’re going to have to be again -– a young nation that teaches the world to march forward.
That’s what you’re doing up here in U.P. That’s what you’re doing here at Northern Michigan University. That’s what we’re all going to do together in the months and years to come.
Thank you. God bless you. God bless the United States of America. (Applause.)
END
2:07 P.M. EST
Friday, February 4, 2011
Thursday, February 3, 2011
Monday, January 31, 2011
2011 State of the Union Address Aimed at the American People
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"The idea of America endures. Our destiny remains our choice..." 44th President of the United States, Barack Obama, during his 2011 State of the Union Address
The 2011 State of the Union speech addresses rough economic times from the standpoint of everyday Americans. Pres. Obama stresses planning for the future of America, tackling the debt and using our freedoms responsibly.
In spite of strong phrases and talking points from either side of the process, President Obama, in his 2011 State of the Union address, explained that vigorous debate is a part of our American democratic process. It is normal and healthy and shows that our process is working. He explained that change is coming in the country and the American people have to be a part of new jobs and industry taking root in our country.
As president, Obama is exposed to information in which the public is unaware. The fact that business and industry may take root in other countries is not new. The president has been saying that all along but have we been listening? When anyone repeats information over and over to the public, it is because it is crucial the idea becomes rooted in the brain of the American people. The point: times have changed, please change with it. Evolve, people.
"At stake is whether new jobs and industries take root in this country, or somewhere else... to win the future, we'll need to take on challenges that have been decades in the making...the rules have changed. In a single generation, revolutions in technology have transformed the way we live, work and do business. Nations like China and India realized that with some changes of their own, they could compete in this new world. And so they started educating their children earlier and longer, with greater emphasis on math and science. They're investing in research and new technologies," the president said during his speech.
This is the president as Chief Economic Officer-in-chief and he is telling the employees/the American people that we need to improve our skills, education and knowledge base and our hiring process for new employees and we need to close more deals. In other words, "always be closing"--in everything we do. And the president is serious. He has repeated this mantra countless times and we will hear it again and again until we begin to change. Schools have to change the way they educate students. School curriculum has to be refined to reflect the needs of the future. Parents have to change for the better, child rearing practices.
We have to re-prioritize our needs. Most of this change will be slightly uncomfortable and will require a spirit of cooperation on local levels where we will find ourselves talking to each other again, communicating ideas and debating which way to go.
There will be frictions and hurt feelings and bruised egos but this is the process a freed man and woman growing and changing in a modern America must engage. We cling to our democratic process and our freedoms but with those freedoms comes a cost--temporary personal discomfort. Our forefathers spilled their blood for those freedoms, so how much more of the burden of freedom should we, the beneficiaries of the fight, bare? All of it because we live free today.
And truth be told, we all hate that feeling. We are out of our comfort zones and we have to speak civilly to each other and we may complain bitterly all along the way but we know it has to get done as this is our American Way. We must even take up the slack from those who refuse to cooperate as they are selfish and ignorant.
This country is up against countries that do not have vigorous debate--they tell the people what they are doing after they start doing it. They don't ask permission as they are not democracies and the people do not have freedom. America is the sharpening stone, the measuring stick in which world leaders use to show their progress. As they gain, they say in effect, their form of government is better than our democratic nation. This is the foreign attitude the president combats everyday. What they don't say is how the people hurt as individuals because they do not live in a democracy. However, we do and must prove our system of government is best by keeping up.
This process, as the president has said many times, is not Democrat or Republican or Independent or Green. It is American, red, white and blue. Those stripes are wide and those stars are big and blue is everywhere. We all fit in it. We are fashioned in a circle and it is time to take up the yoke of our forefathers and fight for our existence in this modern, changing world. The fight is with ourselves and within ourselves and not with each other. We are angry because the road will be tough and we have grown soft--some of us.
"Many people watching tonight can probably remember a time when finding a good job meant showing up at a nearby factory or a business downtown. You didn't always need a degree, and your competition was pretty much limited to your neighbors. If you worked hard, chances are you'd have a job for life, with a decent paycheck, good benefits, and the occasional promotion. Maybe you'd even have the pride of seeing your kids work at the same company. That world has changed. And for many, the change has been painful," the president said during his speech.
However, Americans don't back down from a challenge. We still have the largest and most prosperous economy in the world--$14.6 trillion compared to the Chinese $5.7 trillion Gross Domestic Product.
We will win the future, he said, by investing in biomedical research, information technology and clean energy technology. Common sense moves. Our funding will go to scientists and engineers to solve problems. We will embrace electric vehicles and eliminate taxpayer support of big oil companies. By 2035, wind, solar, nuclear and natural gas energy technologies will power our economy and we need to be prepared educationally.
President Obama, as King Solomon the wise leader of Biblical times, asked us to turn away from our present adolescent, hedonistic ways and grow up.
"Tonight, let's agree to make the effort," he said.
The president said investing in infrastructure improvements like roads and bridges will put Americans back to work but Congress has to work together and approve legislation introduced to them that will make this happen. This is what "bipartisan effort" means. Building high speed rail and Internet will aid the economy. Technology companies that depend on fast moving information understand that we are running out of bandwidth.
This can have a detrimental impact on the American economy but those still living in the Industrial Age don't quite get it because high speed rail and the Internet may not be a big part of their lives--or so they think. If everyone around you uses it to help you with health care, the way you get paid, learn, train and many other ways, is it less important because the individual who knows very little about it doesn't understand?
In other words, there are people who do not share the same priorities as the president who are standing in the way of progress because they do not and won't gain understanding. They want to cling to the past and fail to meet future challenges and then find some scapegoat to blame.
The president also said lowering the corporate tax rate will spur business creation and growth without adding to the deficit. Cutting tax breaks for the wealthiest Americans, doubling exports and enforcing trade agreements will also aid economic growth. However, "bipartisan support" is needed from our legislators.
A spending freeze on annual domestic spending, removing unnecessary business regulations while upholding consumer safeguards and tackling the National Debt will cement the American economic future success.
The president also said America can't win the future with a government of the past, asking for a cut of outdated agencies and bureaucracy.
Improving student curriculum and education will prepare the country for future success.
A domestic spending freeze will help cut the National Debt.
President Barack Obama uses common sense leadership stratagies to illustrate America's future.
http://ping.fm/c70oV
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Sunday, January 30, 2011
Atlanta Housewives Season Finale: Charges of Financial Abuse against Peter by mom of Cynthia, sister
The show opens with Lawrence performing "Closet Freak," a song Kandi wrote for him. The performance was good. Ne Ne started out talking about not having anything to do with Kim. All of the ladies were fierce at the show. (There was an unidentified lady in the audience that had half-blonde and half-black bob--that was cute.)
All the drama was quietly at Cynthia's house. She is short on money and the bridesmaid dresses ain't even thought of since the bride's dress comes first. Cynthia said she doesn't do broke well. It's two days before the wedding.
Then her sister put it out there: How is Peter contributing to the relationship? Cynthia can still work. Peter says he is born to be a restaurant. (since closing the restaurant)
She asked her dad to help her out financially with the wedding. He said he can't swing it.
Mini-cliffhanger!
Phaedra's baby Aden is sooooo cute with the fattest, sweetest cheeks. Momma is going back to work after an eight-week maternity leave and she cried. It's tough leaving baby for work. Every mom knows that.
Kim is so thin. Kandi announces she is touring with Fantasia. She addressed the issue of Kim once again, going around Kandi on the money tip over one of the songs she wrote and details of their business relationship.
They decided to let Kandi's manager and Kim's attorney handle the business end so that they could remain cool. Kandi said distribution for "The Ring Didn't Mean A Thing," will not happen if the details aren't worked out because as it stands, Kandi and her people own the rights to the song.
Whoo. Good girl Kandi--handle it!
Sheree is auditioning for a film, "If These Hips Could Talk."
Sheree is learning to take direction well. Terri Vaughn was on the panel. (secretary on Steve Harvey Show) She seemed to express frustration. Sheree was supposed to portray an angry black woman. She seemed to deliver that. Ms Vaughn seemed to sit up and notice.
Ne Ne, Ne Ne, Ne Ne. Whoooooooo. The list of things-to-do for her son Bryson was involved (for a teen). Teens don't understand. Being momma is tough. You end up saying the same thing over and over and over again. She said Bri-Bri needs a job.
Comes the nuptial countdown. Cynthia's mom paid the last minute, down-to-the wire $3,000 for the open bar at the venue. Phew.
Cynthia's sister questions why the sadness and stress from sister Cynthia. Duh, money problems. Mal, Cynthia's sister, is worried about her sister and the stress made Mal cry! Her mom broke it down: she thinks Peter is financially abusing Cynthia and that he lies.
"Allow him to give," she tells her daughter, because a man will do whatever you allow him to do, she said.
Back to Ne Ne. She and Greg talked over glasses of wine. Greg essentially apologized but Ne Ne said he is always apologizing, so she didn't care.
"It doesn't change anything," she said, adding he needs to change his behavior. They still plan to put parenting first.
Reason number one why Cynthia should not marry Peter:
OK DAMN--PETER DIDN'T GET THE WEDDING BANDS AND IT WAS ON HIS LIST OF THINGS TO DO.
What does that say about the wedding?
Anyway, Cynthia’s dress was amazing in platinum silver. It was an original and it was everything.
Kim is bringing to the wedding, Kroy Biermann, of the Atlanta Falcons football team--who she met at one of the many functions they attend. She said it’s serious but she has been keeping it quiet so that it can last. The big reveal will be at Cyndi’s wedding.
Peter shows to his wedding up full tilt asking for vodka and cranberry.
Last wedding cliffhanger: they forgot the marriage license and are not sure where it is.
It’s official: mom and sis do not want Cynthia to marry. They hijacked the marriage license so when she does marry it won’t legal? Dunno about that one, she does have a license but it just not presented to the pastor. I know he does have to sign the thing.
Anyway.
All the ladies looked fab at the wedding. Kim brought her own bottle because she said Cynthia couldn’t afford good wine if she was, “whining about the honeymoon.”
Ne Ne said Kim is invisible to her.
Well, Sheree said she could see where “they cut corners.” (no abundance of flowers)
Meow. Dang. Kim, Sheree and Phaedra had the claws out for this one!
Anyway, Cynthia was beautiful--like a work of art in that dress--and the ceremony went forth Peter in spite of his imperfections. Ahhh, love. (remember that her mom and sis hid the license so I am not clear if it is legal or not--whooo--because Mal was visibly upset as if she felt guilty about her involvement in the whole thing. Whooo.
The full-skirted, tucked dress (with toile petticoat beneath) had a crease-pleat, choker-collar and huge side bow, also at the neck. Accompanied by large drop earrings, an up do and evening makeup, Cynthia glowed.
Okay, the wrap-up: Dwight and Ne Ne made up at the reception and danced after he presented her with some of the flowers from the wedding arrangements.
P.S. Ne Ne will be on the Apprentice in March. Looks fun! And Kim is preggers, due in June! Whooo!
Source: Atlanta Housewives, Bravo Channel
Site: http://ping.fm/v7p5t
Read the blogs: http://ping.fm/WzAMW/blogs
All the drama was quietly at Cynthia's house. She is short on money and the bridesmaid dresses ain't even thought of since the bride's dress comes first. Cynthia said she doesn't do broke well. It's two days before the wedding.
Then her sister put it out there: How is Peter contributing to the relationship? Cynthia can still work. Peter says he is born to be a restaurant. (since closing the restaurant)
She asked her dad to help her out financially with the wedding. He said he can't swing it.
Mini-cliffhanger!
Phaedra's baby Aden is sooooo cute with the fattest, sweetest cheeks. Momma is going back to work after an eight-week maternity leave and she cried. It's tough leaving baby for work. Every mom knows that.
Kim is so thin. Kandi announces she is touring with Fantasia. She addressed the issue of Kim once again, going around Kandi on the money tip over one of the songs she wrote and details of their business relationship.
They decided to let Kandi's manager and Kim's attorney handle the business end so that they could remain cool. Kandi said distribution for "The Ring Didn't Mean A Thing," will not happen if the details aren't worked out because as it stands, Kandi and her people own the rights to the song.
Whoo. Good girl Kandi--handle it!
Sheree is auditioning for a film, "If These Hips Could Talk."
Sheree is learning to take direction well. Terri Vaughn was on the panel. (secretary on Steve Harvey Show) She seemed to express frustration. Sheree was supposed to portray an angry black woman. She seemed to deliver that. Ms Vaughn seemed to sit up and notice.
Ne Ne, Ne Ne, Ne Ne. Whoooooooo. The list of things-to-do for her son Bryson was involved (for a teen). Teens don't understand. Being momma is tough. You end up saying the same thing over and over and over again. She said Bri-Bri needs a job.
Comes the nuptial countdown. Cynthia's mom paid the last minute, down-to-the wire $3,000 for the open bar at the venue. Phew.
Cynthia's sister questions why the sadness and stress from sister Cynthia. Duh, money problems. Mal, Cynthia's sister, is worried about her sister and the stress made Mal cry! Her mom broke it down: she thinks Peter is financially abusing Cynthia and that he lies.
"Allow him to give," she tells her daughter, because a man will do whatever you allow him to do, she said.
Back to Ne Ne. She and Greg talked over glasses of wine. Greg essentially apologized but Ne Ne said he is always apologizing, so she didn't care.
"It doesn't change anything," she said, adding he needs to change his behavior. They still plan to put parenting first.
Reason number one why Cynthia should not marry Peter:
OK DAMN--PETER DIDN'T GET THE WEDDING BANDS AND IT WAS ON HIS LIST OF THINGS TO DO.
What does that say about the wedding?
Anyway, Cynthia’s dress was amazing in platinum silver. It was an original and it was everything.
Kim is bringing to the wedding, Kroy Biermann, of the Atlanta Falcons football team--who she met at one of the many functions they attend. She said it’s serious but she has been keeping it quiet so that it can last. The big reveal will be at Cyndi’s wedding.
Peter shows to his wedding up full tilt asking for vodka and cranberry.
Last wedding cliffhanger: they forgot the marriage license and are not sure where it is.
It’s official: mom and sis do not want Cynthia to marry. They hijacked the marriage license so when she does marry it won’t legal? Dunno about that one, she does have a license but it just not presented to the pastor. I know he does have to sign the thing.
Anyway.
All the ladies looked fab at the wedding. Kim brought her own bottle because she said Cynthia couldn’t afford good wine if she was, “whining about the honeymoon.”
Ne Ne said Kim is invisible to her.
Well, Sheree said she could see where “they cut corners.” (no abundance of flowers)
Meow. Dang. Kim, Sheree and Phaedra had the claws out for this one!
Anyway, Cynthia was beautiful--like a work of art in that dress--and the ceremony went forth Peter in spite of his imperfections. Ahhh, love. (remember that her mom and sis hid the license so I am not clear if it is legal or not--whooo--because Mal was visibly upset as if she felt guilty about her involvement in the whole thing. Whooo.
The full-skirted, tucked dress (with toile petticoat beneath) had a crease-pleat, choker-collar and huge side bow, also at the neck. Accompanied by large drop earrings, an up do and evening makeup, Cynthia glowed.
Okay, the wrap-up: Dwight and Ne Ne made up at the reception and danced after he presented her with some of the flowers from the wedding arrangements.
P.S. Ne Ne will be on the Apprentice in March. Looks fun! And Kim is preggers, due in June! Whooo!
Source: Atlanta Housewives, Bravo Channel
Site: http://ping.fm/v7p5t
Read the blogs: http://ping.fm/WzAMW/blogs
Sunday, December 26, 2010
Why men act out against women - CNN.com
Why men act out against women - CNN.com
CNN.com explains that "TED is a nonprofit organization devoted to 'Ideas worth spreading,' which it distributes through talks posted on its website. Anthony Porter is co-founder of "A Call to Men," a national organization addressing domestic and sexual violence prevention and the promotion of healthy manhood. "
CNN.com explains that "TED is a nonprofit organization devoted to 'Ideas worth spreading,' which it distributes through talks posted on its website. Anthony Porter is co-founder of "A Call to Men," a national organization addressing domestic and sexual violence prevention and the promotion of healthy manhood. "
Tuesday, December 21, 2010
President Obama Signs Critical Legislation to Prevent Child Abuse and Domestic Violence | The White House
In 2008, 772,000 children were victims of abuse and neglect. Nearly 2,000 of those children died. By providing states and local communities with new tools to identify and treat abuse and neglect, CAPTA-funded services will continue to protect children across the country. Prevention efforts will help parents by addressing high risk-factors like substance abuse, mental illness and domestic violence.
Domestic violence still affects 1 in 4 women in states and territories across the country.
Monday, December 20, 2010
Sunday, December 19, 2010
How leaks affect you :: Local News :: Post-Tribune
How leaks affect you :: Local News :: Post-Tribune
Leaking underground containers can cause cancer and poison groundwater. Click to read the article.
Leaking underground containers can cause cancer and poison groundwater. Click to read the article.
Saturday, December 18, 2010
101210-tax-relief-african-americans.pdf (application/pdf Object)
101210-tax-relief-african-americans.pdf (application/pdf Object)
Commentary: imadeamesss.com
The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010:
A Win for African American Families
The agreement announced by the President not only secures vital tax relief and investments in
our workers that will create jobs and accelerate economic growth, it contains specific policies
that provide targeted support for African Americans. In addition to extending unemployment
insurance for 13 months, the bill builds off the gains made in the Recovery Act. The agreement
will extend key provisions such as the Earned Income Tax Credit (EITC) and the Child Tax
Credit (CTC) that disproportionately help African American families and children.
• An estimated 2.2 million African American families will benefit from the expansion
in the EITC and CTC that are extended in this agreement. These credits help roughly
4.7 million African American children or almost half (44%) of all African American
children.
• The extension of Unemployment Insurance will benefit 1.1 million African
Americans. That is why the National Congress of Black Women praised the President
for giving the unemployed a “new lease on life” and a “survival line” through the next 13
months.
Illustrative Example: Working African American mother with three children making $20,000.
This family will:
• Receive a tax cut of more than $2,100 from extending recent expansions in the EITC and
Child Tax Credit as part of this agreement.
• Receive a $400 tax cut from the new payroll tax cut.
• Compared to the Republican alternative, this family will receive a total tax benefit of
$2,500 next year.
HIGH IMPACT, JOB CREATING TAX CUTS FOR AFRICAN AMERICAN FAMILIES
Economic studies consistently find that lower-income households are the most likely to spend
additional money, creating jobs and helping overall growth. That’s why the Congressional
Budget Office has concluded that “policies aimed at lower-income households tend to have
greater stimulative effects.”
Beginning in the Recovery Act, the President has demonstrated his commitment to extend
benefits and tax cuts to struggling families as the right thing to do for family security and our
economy. According to a study released last year by the Center on Budget and Policy Priorities,
seven policies included in the Recovery Act have kept 1.4 million African-Americans above the
poverty line.
1
1
Sherman, Arloc “Stimulus Keeping 6 Million Americans Out of Poverty in 2009, Estimates Show.” Center on
Budget and Policy Priorities, September 2009.
Page 2
Three of these policies are continued in the current bill, including Unemployment Insurance, the
EITC and the Child Tax Credit.
Earned Income Tax Credit
The EITC in the Recovery Act:
The Earned Income Tax Credit (EITC) supplements the wages of low income workers, lifting
more children out of poverty than any other single program or category of programs.
Under the Recovery Act, the EITC was expanded to reduce the marriage penalty and to create a
“third tier” of the EITC for families with three or more children. This means larger families now
receive up to $1,040 more than they would have under the old system.
By extending the EITC in the agreement:
• About 4.1 million African American children will benefit from an expanded EITC tax
credit. Without this agreement, their families could lose up to $1,040.
Child Tax Credit
The Child Tax Credit in the Recovery Act:
The Child Tax Credit helps low-and moderate-income families with children. The credit allows
families to reduce their federal income tax by a certain amount for each qualifying child under
the age of 17 in a household. In 2001, the Child Tax Credit was expanded to $1,000 per child,
but was unavailable to millions of low income families because the minimum amount of earned
income used to calculate the credit was set at about $12,500 in today’s dollars.
In the Recovery Act, the Administration and Congress secured an important expansion in the
Child Tax Credit for lower income families by lowering the minimum amount from about
$12,500 to $3,000.
By extending the CTC with the $3,000 minimum threshold in the agreement:
• 2.7 African American children will benefit from a larger CTC.
• For many families, extending the minimum threshold in the CTC will result in thousands
of dollars in additional tax benefits that would have otherwise been lost. For example:
o A married couple with three children making $23,000 will receive $3,000 in child
tax credits compared to about $1,540 if only the 2001/2003 tax cuts were
extended – an increase of about $1,460.
Page 3
o A single mother with two children making $17,000 will receive $2,000 in child
tax credits compared to about $640 if only the 2001/2003 tax cuts were extended
– an increase of about $1,360.
American Opportunity Tax Credit
The American Opportunity Tax Credit in the Recovery Act:
• The Recovery Act expanded the AOTC so that it now provides up to three times more
relief than was previously available under the Hope Credit and Lifetime Learning Credit
and is refundable for low-income students for the first time.
• The AOTC gives working families and students a $2,500 per year partially refundable tax
credit to help students and their families cover the cost of college tuition.
The American Opportunity Tax Credit in the agreement:
• This deal fully extends AOTC for two years, ensuring that more than 8 million students
will continue to receive this tax benefit to help them afford college.
Unemployment Insurance
Extension of Unemployment Insurance is especially helpful for African Americans
• The unemployment rate among African Americans was 16% in November 2010. It has
increased 7 percentage points since the beginning of the recession in December 2007.
• Young African Americans face extremely high rates on unemployment, with 28% of
those ages 16-24 in unemployment in November 2010.
• African Americans also face longer durations of unemployment. For example, 47% of
unemployed African Americans have been unemployed for 27 weeks or more, compared
to 43.8% for all unemployed (not seasonally adjusted). The median African American
unemployed worker has been unemployed for almost a month longer than the median
unemployed worker.
The agreement secures an extension of unemployment insurance for an additional 13 months.
Without this extension, 330,600 African Americans looking for work would have lost their
benefits this month alone, and through the end of next year over 1.1 million unemployed African
Americans would have lost their benefits.
• Extending unemployment benefits provides crucial economic security to American
families. A recent report by the Council of Economic Advisers found that while 14
million people received federally supported unemployment insurance benefits through
Page 4
October 2010, an additional 26 million people living in their households benefitted
indirectly.
• About 42 percent of these recipients have, or live with, children. As of October, 2010
10.5 million children had benefitted from this provision.
Commentary: imadeamesss.com
The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010:
A Win for African American Families
The agreement announced by the President not only secures vital tax relief and investments in
our workers that will create jobs and accelerate economic growth, it contains specific policies
that provide targeted support for African Americans. In addition to extending unemployment
insurance for 13 months, the bill builds off the gains made in the Recovery Act. The agreement
will extend key provisions such as the Earned Income Tax Credit (EITC) and the Child Tax
Credit (CTC) that disproportionately help African American families and children.
• An estimated 2.2 million African American families will benefit from the expansion
in the EITC and CTC that are extended in this agreement. These credits help roughly
4.7 million African American children or almost half (44%) of all African American
children.
• The extension of Unemployment Insurance will benefit 1.1 million African
Americans. That is why the National Congress of Black Women praised the President
for giving the unemployed a “new lease on life” and a “survival line” through the next 13
months.
Illustrative Example: Working African American mother with three children making $20,000.
This family will:
• Receive a tax cut of more than $2,100 from extending recent expansions in the EITC and
Child Tax Credit as part of this agreement.
• Receive a $400 tax cut from the new payroll tax cut.
• Compared to the Republican alternative, this family will receive a total tax benefit of
$2,500 next year.
HIGH IMPACT, JOB CREATING TAX CUTS FOR AFRICAN AMERICAN FAMILIES
Economic studies consistently find that lower-income households are the most likely to spend
additional money, creating jobs and helping overall growth. That’s why the Congressional
Budget Office has concluded that “policies aimed at lower-income households tend to have
greater stimulative effects.”
Beginning in the Recovery Act, the President has demonstrated his commitment to extend
benefits and tax cuts to struggling families as the right thing to do for family security and our
economy. According to a study released last year by the Center on Budget and Policy Priorities,
seven policies included in the Recovery Act have kept 1.4 million African-Americans above the
poverty line.
1
1
Sherman, Arloc “Stimulus Keeping 6 Million Americans Out of Poverty in 2009, Estimates Show.” Center on
Budget and Policy Priorities, September 2009.
Page 2
Three of these policies are continued in the current bill, including Unemployment Insurance, the
EITC and the Child Tax Credit.
Earned Income Tax Credit
The EITC in the Recovery Act:
The Earned Income Tax Credit (EITC) supplements the wages of low income workers, lifting
more children out of poverty than any other single program or category of programs.
Under the Recovery Act, the EITC was expanded to reduce the marriage penalty and to create a
“third tier” of the EITC for families with three or more children. This means larger families now
receive up to $1,040 more than they would have under the old system.
By extending the EITC in the agreement:
• About 4.1 million African American children will benefit from an expanded EITC tax
credit. Without this agreement, their families could lose up to $1,040.
Child Tax Credit
The Child Tax Credit in the Recovery Act:
The Child Tax Credit helps low-and moderate-income families with children. The credit allows
families to reduce their federal income tax by a certain amount for each qualifying child under
the age of 17 in a household. In 2001, the Child Tax Credit was expanded to $1,000 per child,
but was unavailable to millions of low income families because the minimum amount of earned
income used to calculate the credit was set at about $12,500 in today’s dollars.
In the Recovery Act, the Administration and Congress secured an important expansion in the
Child Tax Credit for lower income families by lowering the minimum amount from about
$12,500 to $3,000.
By extending the CTC with the $3,000 minimum threshold in the agreement:
• 2.7 African American children will benefit from a larger CTC.
• For many families, extending the minimum threshold in the CTC will result in thousands
of dollars in additional tax benefits that would have otherwise been lost. For example:
o A married couple with three children making $23,000 will receive $3,000 in child
tax credits compared to about $1,540 if only the 2001/2003 tax cuts were
extended – an increase of about $1,460.
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o A single mother with two children making $17,000 will receive $2,000 in child
tax credits compared to about $640 if only the 2001/2003 tax cuts were extended
– an increase of about $1,360.
American Opportunity Tax Credit
The American Opportunity Tax Credit in the Recovery Act:
• The Recovery Act expanded the AOTC so that it now provides up to three times more
relief than was previously available under the Hope Credit and Lifetime Learning Credit
and is refundable for low-income students for the first time.
• The AOTC gives working families and students a $2,500 per year partially refundable tax
credit to help students and their families cover the cost of college tuition.
The American Opportunity Tax Credit in the agreement:
• This deal fully extends AOTC for two years, ensuring that more than 8 million students
will continue to receive this tax benefit to help them afford college.
Unemployment Insurance
Extension of Unemployment Insurance is especially helpful for African Americans
• The unemployment rate among African Americans was 16% in November 2010. It has
increased 7 percentage points since the beginning of the recession in December 2007.
• Young African Americans face extremely high rates on unemployment, with 28% of
those ages 16-24 in unemployment in November 2010.
• African Americans also face longer durations of unemployment. For example, 47% of
unemployed African Americans have been unemployed for 27 weeks or more, compared
to 43.8% for all unemployed (not seasonally adjusted). The median African American
unemployed worker has been unemployed for almost a month longer than the median
unemployed worker.
The agreement secures an extension of unemployment insurance for an additional 13 months.
Without this extension, 330,600 African Americans looking for work would have lost their
benefits this month alone, and through the end of next year over 1.1 million unemployed African
Americans would have lost their benefits.
• Extending unemployment benefits provides crucial economic security to American
families. A recent report by the Council of Economic Advisers found that while 14
million people received federally supported unemployment insurance benefits through
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October 2010, an additional 26 million people living in their households benefitted
indirectly.
• About 42 percent of these recipients have, or live with, children. As of October, 2010
10.5 million children had benefitted from this provision.
Thursday, December 9, 2010
UPDATE: INDIANA BABY GETS LIFE SAVING OPERATION!
UPDATE: BABY GETS OPERATION!
Non-profit MDwise pays for baby Seth's operation!
After budget cuts, Indiana baby denied life-saving treatment - Yahoo! News
Non-profit MDwise pays for baby Seth's operation!
After budget cuts, Indiana baby denied life-saving treatment - Yahoo! News
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