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January 22, 2012

Italy: Divers find woman’s body in stricken ship

Filed under: business, marketing — Tags: , , , — Gladiator @ 4:08 am

Italian Coast Guard divers have found a woman’s body in a corridor of a submerged section of the capsized Costa Concordia, raising to at least 12 the number of dead in the cruise liner accident.

Coast Guard Cmdr. Cosimo Nicastro told The Associated Press that the body, wearing a life jacket, was found in a narrow corridor near an evacuation staging point at the ship’s rear Saturday.

The body was brought to Giglio, the Tuscan island where the cruise liner hit a reef and ran aground on Jan. 14. Twenty people are missing.

THIS IS A BREAKING NEWS UPDATE. Check back soon for further information. AP’s earlier story is below.

ROME (AP) _ Italian Coast Guard divers have found a woman’s body in a corridor of a submerged section of the capsized Costa Concordia, raising to at least 12 the number of dead in the cruise liner accident.

Coast Guard Cmdr. Cosimo Nicastro told The Associated Press that the body, wearing a life jacket, was found in a narrow corridor near an evacuation staging point at the ship’s rear.

The body was brought to Giglio, the Tuscan island where the cruise liner hit a reef and ran aground on Jan. 14. Twenty persons are missing.

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January 15, 2012

Italian officials say cruise ship missing now 17

Filed under: business, houses — Tags: , , , — Gladiator @ 4:24 pm

Italian officials have lowered the number of people still unaccounted-for in the grounding of a cruise ship off Tuscany.

Tuscany’s regional president Enrico Rossi said that there were now six crew members and 11 passengers who haven’t been located out of the 4,200-plus people who were aboard the Costa Concordia when it struck a reef and capsized Friday night.

Three people have been confirmed killed and three people were rescued more than 24 hours after the disaster: a South Korean honeymooning couple and an Italian member of the ship’s crew, who was hoisted to safety Sunday afternoon by helicopter.

The Concordia’s commander has been detained on accusations of manslaughter and abandoning the ship. He has said the reef wasn’t marked.

THIS IS A BREAKING NEWS UPDATE. Check back soon for further information. AP’s earlier story is below.

GIGLIO, Italy (AP) _ An Italian prosecutor has confirmed allegations from passengers and others that the captain of the cruise ship Costa Concordia abandoned the stricken liner before all the passengers had left.

Three people are confirmed dead after the huge cruise ship carrying more than 4,200 people ran aground on Friday night.

Asked Sunday by Sky Italia TV about allegations that the captain had left the ship before the last passenger had been rescued, Grosseto prosecutor Francesco Verusio replied, “Unfortunately I must confirm that circumstance.”

The captain, Francesco Schettino, was detained for questioning for suspected manslaughter, abandoning ship before all others and causing a shipwreck.

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December 27, 2011

Traffic will flow during Chain of Rocks bridge work

Filed under: business, money — Tags: , , , — Gladiator @ 2:36 am

The road has been heavily patched, and there’s no room to pull over to change a tire.

Welcome to the twin Interstate 270 bridges over the Chain of Rocks Canal, the 8½-mile, manmade bypass to the Mississippi River.

The Illinois Department of Transportation will soon replace the aging spans in Madison County. Built in 1963, the truss bridges are in need of repair and are too narrow to accommodate more lanes in the future.

Walsh Construction Co. of Chicago has been awarded a $104 million contract to build the new four-lane bridge, which will be just north of the existing bridges.

Traffic will remain on the existing bridges while the new span is built, said Paul Grabowski, an engineer at the Illinois Department of Transportation. He predicted “minimal” effects on traffic while construction is under way. The new bridge should be open to traffic by December 2013.

The plan stands in sharp contrast to the one being used by the Missouri Department of Transportation to renovate the westbound Blanchette Bridge span over the Missouri River between St. Charles and St. Louis counties.

That project, which is also being carried out by Walsh Construction, will require eastbound and westbound traffic to temporarily share the current eastbound span.

For the Illinois bridge, Grabowski said, some earthwork already has begun on Chouteau Island, between the Mississippi River and the canal, in preparation for temporary lanes. Earth is also being moved near the western abutment.

The new bridge will have room for a third lane in the future. Until then, the bridge will have two lanes and an extra merging lane cash advance loan no fax.

Grabowski said the deck was in poor condition and the structural steel needed repair.

The truss spans over Chain of Rocks Canal are similar to the Interstate 35W bridge that collapsed in Minneapolis in 2007. But Grabowski said it was structurally adequate.

The new bridge will be a single span and will resemble the Poplar Street Bridge.

Glenn Scott of Wildwood drives over the two bridges every day while making his 49-mile commute to work in the Metro East.

Although he travels in the opposite direction of the heaviest commuter traffic, he has been caught in traffic jams when highway crews make frequent repairs. That kind of work is usually done at nonpeak times of day.

“It definitely is one of the worst sections of road I drive on on any kind of regular basis,” Scott said. “As often as they’ve worked on that section of roadway, you’d think it would be in pristine shape. But it’s really pretty rough.”

The new I-270 bridge will cross the Chain of Rocks Canal, which opened in 1954. The canal allows barge traffic to bypass a treacherous reach of the Mississippi River just north of St. Louis.

Illinois is awaiting necessary permits from the Army Corps of Engineers. Mike Petersen, a spokesman for the corps, said the agency was reviewing the project before granting IDOT a temporary easement to begin construction.

The current I-270 bridges over the Chain of Rocks Canal carry nearly 55,000 cars a day.

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December 10, 2011

Blue Coat agrees to be taken private in $1.3B deal

Filed under: business, management — Tags: , , , — Gladiator @ 3:36 am

Blue Coat Systems, a provider of Internet networking and security products, says it has agreed to be acquired by private equity firm Thoma Bravo in a $1.3 billion deal.

Blue Coat Systems Inc. said Friday that its shareholders will receive $25.81 for each of the company’s stock they own. That’s a 48 percent premium over Blue Coat’s closing stock price Thursday.

Blue Coat has been working to turn its business around in a challenging time for the networking equipment industry pay day loans. Based on Thursday’s closing, its stock is down 41.5 percent year-to-date.

The company sells WAN, or “wide area network” optimization technology. This helps boost the performance of applications shared over computer networks.

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November 17, 2011

European debt woes push TSX lower

Filed under: banks, business — Tags: , , , — Gladiator @ 10:20 am

TORONTO

October 30, 2011

Contrast of misery, normalcy in flood-wary Bangkok

Filed under: business, term — Tags: , , , — Gladiator @ 2:04 pm

On one side of Bangkok, you’ll find the victims of Thailand’s worst flooding in half a century. They float down trash-strewn waterways, paddling washtubs with wicker brooms over submerged neighborhoods.

Just a few miles (kilometers) away, you’ll find something else entirely: well-heeled shoppers perusing bustling malls decorated with newly hung Halloween decorations, couples sipping espresso in the air-conditioned comfort of ultrachic cafes.

Although catastrophic flooding has devastated a third of this Southeast Asian nation and submerged some of the capital’s northernmost districts, the reality for the majority of this sprawling metropolis of 9 million people is that life goes on.

The desperate images of disaster contrast sharply with scenes of total normality _ from night-owls drinking cocktails in red light districts to tourists enjoying relaxing foot massages in faux-leather chairs downtown.

An exodus of thousands of Bangkok residents to nearby resorts and a government-ordered five-day holiday have left the notoriously congested city unusually easy to maneuver by taxi and three-wheeled tuk-tuk.

“It’s better, in a way,” Nicole Attwater of Sydney said Sunday, adding that she was happy to brave some flooding to see the Grand Palace, the gold-studded former seat of the Thai monarchy, with far lighter crowds than normal on a sunny morning.

“It’s a good time to come, because it’s quiet,” she said.

Most of Bangkok is dry, with little to indicate that anything is wrong _ except for the ominous walls of sandbags stacked around hotels and homes, and the apocalyptic predictions of everyone from expatriate bloggers to some members of the Thai government.

Yet, the threat of floodwaters sweeping through the city is still very real. Nationwide, 381 people have died over the last three months, and 110,000 more have been displaced _ 10,000 of them in Bangkok, according to government figures. The catastrophe has put hundreds of thousands of people out of work and cost billions of dollars in damage _ a bill that grows larger by the day.

Among items struck from tourists’ agendas: shopping for crafts at the popular Chatuchak weekend market and dinner cruises down the city’s Chao Phraya river _ all canceled due to the high waters. The river swelled to a record high level early Sunday, spilling into some neighborhoods and sparking fears it would flood the inner city.

Fears over worse-case scenarios and travel warnings issued by foreign governments have slashed visitors by half at sites like the Grand Palace and the giant gold-plated Reclining Buddha inside Bangkok’s Wat Pho temple complex.

But the biggest problem by far, said tour guide Keerati Atui, is the media, which he said has given the impression that most of Bangkok is under water.

“Look around,” he said, gesturing to lines of tourists streaming into the white-walled palace. “It’s dry. Everything here is normal.”

River water has lapped at the palace gates and even crept inside, but much of it has welled up through drains in the riverside neighborhood. One picture posted this week on Twitter showed a cameraman filming a television news anchor on a street beside the palace in ankle-high water. On both sides of the pair, the street was bone dry.

Heavy monsoon rains have pummeled a large swath of Asia since July. As floodwaters crept across Thailand, they first drowned neighboring provinces, then districts on the northern outskirts of Bangkok. Last week, advancing water forced the city’s Don Muang airport, which is used mainly for domestic flights, to shut down. However, the international Suwarnabhumi airport remains open, and the city’s skytrain and subway lines were functioning normally.

Nobody knows how far the water will go, but so far Bangkok’s defenses have mostly held.

Statements from government leaders have alternated from assurances the capital would be spared to dire warnings that nowhere is safe.

Panicked Bangkokians have stripped supermarkets and convenience stores of bottled water and dried noodle supplies in recent weeks as a result, but there is still plenty to drink. Both those items can be still found in street-side shops along the city’s temple-dotted riverside, where the mineral water is ice cold and the noodle soup is spicy and sprinkled with fish balls.

“A lot of people are overreacting, they’ve been hoarding too much stuff,” said Kwanpimol Pleegluay, a 48-year-old housewife. “They watch the news and see people in other flooded provinces and think that’s going to happen to them here.”

Kwanpimol was taking a casual stroll along the Chao Phraya with her husband over the weekend _ to see how high the river swelled. After peering into the water, she took his photo and chose one word to describe the scene: “Beautiful,” she said.

On the other side of the Chao Phraya, where the 200-year-old pagoda of the city’s famed Temple of the Dawn rises from the banks, 42-year-old monk Phramaha Abhin said he was not worried.

“The Lord Buddha taught us not to be negligent, we must always prepare,” said Phramaha, referring to newly laid protective layer of sandbags outside the temple, where he lives. “But he also taught us not to foolishly fear that which hasn’t happened yet.”

Many people in Bangkok and neighboring provinces see the flooding as something that should be accepted, not something to be angry about.

In Bangkok’s heavily flooded Thonburi district, a navy team evacuated a stranded pregnant woman whose water broke Sunday. Aorasa Wisetkoop looked anxious, but remained calm and held tightly onto her belly, while a rescue team lifted her into a boat.

“We had to get her to hospital,” rescuer Nitipat Mongolpradit said.

But along with every tragic and urgent incident in the inundation, there were images of Thais splashing in the floodwaters for fun.

When the river began flowing like a waterfall over a wall into Chantana Srisuwan’s wooden-shack kitchen, the 58-year-old pulled out a stack of aluminum pans, soaped them up and began washing them. “Why bother being troubled?” she asked.

“If we think we shouldn’t get wet, we’ll never have peace of mind,” she said, as a neighbor complained he could not sleep because his bed was submerged beneath encroaching waves. “If there’s no water, great. But if there is, we have to learn to live with it.”

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October 6, 2011

Steve Jobs, Apple co-founder and Silicon Valley icon dead at 56

Filed under: business, news — Tags: , , , — Gladiator @ 6:04 am

Steve Jobs, founder of Apple Inc., and visionary whose enduring legacy is held firmly in the hands and hearts of millions of people around the world, died Wednesday evening.

The man who will be remembered as one of the most influential entrepreneurs of the 20th century was 56 years old.

Apple confirmed Jobs

September 5, 2011

Asian stocks down on dreary US jobs data

Filed under: business, houses — Tags: , , , — Gladiator @ 5:28 am

Asia-Pacific stocks took a beating early Monday after jobs data out of the U.S. last week revived fears of a recession in the world’s largest economy.

Japan’s Nikkei was 1.7 percent down in early trading at 8,797.89. Australia’s S&P ASX 200 fell 2.1 percent to 4,154.90. New Zealand’s NZX 50 declined 0.7 percent to 3,279.30. South Korea’s Kospi Composite Index slid 2.5 percent to 1,821.65.

Companies that count on brisk economic growth to fuel their revenues were hit hard. Japan’s Hitachi Construction Machinery lost 4.3 percent. Energy Resources of Australia Ltd. tumbled 4.4 percent.

The Dow Jones industrial average closed 2.2 percent lower Friday, wiping out its gain for the week, on the heels of a dismal jobs report.

The Labor Department reported that no jobs were added in the U.S. in August. It was the worst employment report in 11 months and renewed fears that another recession could be on the way.

The lack of hiring in the U.S. last month surprised investors. Economists were expecting 93,000 jobs to be added. Previously reported hiring figures for June and July were revised lower. The average work week declined and hourly earnings fell. The unemployment rate held steady at 9.1 percent. The rate has been above 9 percent in all but two months since May 2009.

The Dow Jones industrial average lost 253.31 points to close at 11,240.26. It was the biggest fall in two weeks. The Standard & Poor’s 500 index fell 2.5 percent to 1,173.97. The Nasdaq composite fell 2.6 percent to 2,480.33.

The sour jobs report comes on top of Europe’s debt problems, which are still dragging on. Meanwhile, China’s economy is showing signs of slower growth.

Those problems could weaken global demand for many kinds of commodities including oil and metals. Inpex Corp., Japan’s leading energy explorer, sank 3.1 percent.

Investors seeking a relatively stable sore of value during times of economic turbulence in financial markets have been scooping up gold, sending its price up 50 percent over the past year.

Gold-related shares were among the few posting gains Monday. Australia’s Newcrest Mining Ltd., the country’s top gold miner, rose 2 percent.

In currencies, the euro weakened to $1.4165 from $1.4187 in late Friday trading in New York. The yen weakened to 76.77 yen from 76.72 yen.

Benchmark crude for October delivery slipped 62 cents to $85.83 per barrel on Monday on the New York Mercantile Exchange. The contract fell $2.48, or 2.8 percent, to finish at $86.45 on the Nymex on Friday.

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August 19, 2011

Relaxing Obama hits bookstore, Vineyard golf links

Filed under: business, mortgage — Tags: , , , — Gladiator @ 11:16 pm

Summer reading and a bit of golf. That says vacation for many Americans. And briefings on the economy and national security if you’re the president.

Barack Obama began the first full day of his Martha’s Vineyard vacation on Friday by taking his daughters book shopping, then hitting the golf links at a private course.

The White House was at pains to point out he also was briefed by aides on national and international issues.

At the Bunch of Grapes bookstore, Obama was greeted by shouts of “2012″ and “Four More Years.” Dressed casually in jeans and an untucked blue polo shirt, he introduced his daughters to patrons before setting off in search of vacation reading. The girls, meanwhile, shopped with a purpose.

“They’ve got to buy some books,” Obama said of Malia, 13, and Sasha, 10, adding that one of them had a school assignment.

One woman, Terry Wilson, 63, of Alexandria, Va., told the president: “Please don’t forget the teachers.” Obama replied that he loves teachers. “How could I forget them?” he said.

At the end of the 15-minute shopping trip, Obama was seen holding five or six books, including “Brave New World,” Aldous Huxley’s futuristic classic, and “The Bayou Trilogy,” a crime novel by Daniel Woodrell set in Louisiana swampland.

Obama emerged to cheers from well-wishers who were kept behind yellow police tape, then climbed into his SUV and rode back to his vacation compound to drop off the girls before being driven to Vineyard Golf Club in Edgartown. Aides said his afternoon foursome included longtime Chicago friend Eric Whitaker and two White House staffers cash advance.

Several Republican presidential candidates have criticized Obama for coming to this upscale island resort off the coast of Massachusetts at a time of economic uncertainty across the country.

The 10-day stay on Martha’s Vineyard is Obama’s third straight summer on the island off Cape Cod, and his visit to the Bunch of Grapes was a reprise of how he started last year’s vacation. Once again, it was a father-and-daughters outing, with first lady Michelle Obama elsewhere on the island.

Inside the bookstore, once Malia and Sasha had picked out books, Obama went to the cashier to pay but was heard disagreeing with the $32 price he was quoted, which seemed low for the size of his stack. He later paid by credit card, telling the cashiers that he uses it only about three times a year.

“We’re counting on you!” one patron yelled as Obama left the store.

He also found a supportive audience outside the shop.

“He’s working all the time. He’s getting a little relaxing when he’s with his girls,” said Virlynn Atkinson White, from Washington, D.C., who also was on vacation. “But for the most part, I’m sure he’s working. There’s too much going on in the country. He’s very conscientious.”

The White House defends Obama’s desire for time to recharge and spend time with his family before the new school year begins. Officials also say the president is never really on vacation.

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Associated Press writer Erica Werner contributed to this report.

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July 2, 2011

Eurozone delays decision on new Greek bailout

Filed under: business, news — Tags: , , , — Gladiator @ 7:16 am

Eurozone finance ministers have canceled a crisis meeting planned for Sunday because they need more time _ as much as two more months _ to nail down the details of a second bailout for Greece, officials said Friday.

They will, however, hold a video conference on Saturday to sign off on a new loan installment that will keep Greece from bankruptcy over the summer.

Whereas the payout of the next loan installment from Greece’s first bailout was a near certainty after Athens voted through new austerity measures this week, talks were still ongoing over a second rescue package that would support Greece over the longer-term.

“It would have been too ambitious to get the deal (on a second package of rescue loans) done by Sunday,” said a eurozone official. Several key aspects of a new bailout, such as the contribution of banks and other investment funds, are still up in the air _ although eurozone leaders said last week that there will be new financing for the struggling country.

The ministers will continue their discussions on the new program at their next scheduled meeting on July 11, the official said quick payday loans. He was speaking on condition of anonymity because of the sensitivity of the talks on Greece.

A second eurozone official said that while the cornerstones of the new program have to be drawn up soon, it may not be finalized until the next Greek loan installment is due in September. The official was also speaking on condition of anonymity.

A spokesman for Jean-Claude Juncker, the prime minister of Luxembourg and chairman of the Eurogroup, said earlier that a video conference had been scheduled for Saturday evening, but didn’t provide a reason for the change in the plan. He said he didn’t know whether a statement would be released after the call.

The ministers have to sign of on a euro12 billion ($17 billion) loan installment of Greece’s existing bailout, without which the debt-ridden country would default in July. Greece this week fulfilled the preconditions for getting the money by passing unpopular austerity and privatization programs through parliament.

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