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Wednesday, March 18, 2009

United States President Barack Obama stated Monday that insurance giant AIG is in financial trouble due to “recklessness and greed,” and called for legal action to stop the company from giving out millions of dollars in bonuses to its executives.

“It’s hard to understand how derivative traders at AIG warranted any bonuses, much less $165 million in extra pay,” Obama said. “How do they justify this outrage to the taxpayers who are keeping the company afloat.”

Obama’s statement comes after reports surfaced last weekend saying the insurance agency, which is in deep financial trouble, had paid US$165 million to executives in bonuses, after receiving $170 billion as part of a government bailout plan.

AIG has said that the bonuses have to be given out, as the company is legally required by contract to do so. A representative with the National Economic Council, Lawrence H. Summers, also said that the bonuses were required to be given out. If AIG had refused to give out the bonuses, employees could file a lawsuit against the company for the money.

“We cannot attract and retain the best and the brightest talent to lead and staff the A.I.G. businesses — which are now being operated principally on behalf of American taxpayers — if employees believe their compensation is subject to continued and arbitrary adjustment by the U.S. Treasury,” AIG CEO Edward M. Liddy said in a letter addressed to Treasury Secretary Timothy F. Geithner on Saturday.

Liddy said that he asked Geithner “to use that leverage and pursue every legal avenue to block these bonuses and make the American taxpayers whole.”

“I want everybody to be clear that Secretary Geithner’s been on the case,” Obama said. “He’s working to resolve this matter with the new CEO, Edward Liddy, who, by the way, everybody needs to understand, came on board after the contracts that led to these bonuses were agreed to last year.”

If the bonuses cannot be stopped, the U.S. Congress says they want AIG to reimburse the government. Congress is looking to impose stiff new taxes on the pay, or ordering the company to return the money which was originally granted from a government bailout. In a letter to House Speaker Nancy Pelosi on Tuesday, senator Richard Shelby promised that the treasury will recover all of the money. Several U.S. senators along with Liddy have sent letters to AIG asking for the bonuses to be renegotiated, something AIG agreed to and says they will reduce future bonuses by 30%. Senators state that if Libby does not respond by renegotiating the bonuses, the Senate Finance Committee will propose an excise tax. Not only will an excise tax be proposed on AIG, but all companies receiving bailout money and their employees who receive bonuses.

Numerous House Democrats have introduced legislation which would place a 100% tax on any bonuses of over $100,000 from companies that are receiving government bailout funds. Meanwhile in the Senate, a bipartisan proposal by Max Baucus (D-Montana) and Charles Grassley (R-Iowa) would levy a special 90% excise tax on AIG’s bonuses. Asked Senator Baucus, who chairs the Senate Finance Committee: “What is the highest excise tax we can impose that will stand up in court? Let’s find out.”

Friday, June 17, 2011

Anthony Weiner announced his resignation yesterday afternoon as a Democratic representative from New York to the U.S. House of Representatives, a position he has filled for twelve years. He has been under pressure from politicians within his own party after a sex scandal engulfed his life and that of the Democratic party.

Weiner told reporters it was “impossible” to continue in his role after the events of the last few weeks, including revelations that he was involved in sexual relationships with a number of young women over the internet, including sending lewd photos of himself, and then lying about his actions to reporters.

He announced his resignation at a press conference in a Brooklyn senior center where 20 years ago he began his political career and apologized for his “personal mistakes”. His wife, Huma Abedin, did not accompany him, but Weiner apologized to her in his speech, saying that he hopes “most importantly, that my wife and I can continue to heal from the damage that I’ve caused.” He took no questions from reporters.

On June 6, Weiner had admitted to corresponding with women he met on the internet, including exchanging lewd photos. But on June 11 he declared in an emotional interview he would not resign. Under pressure from Democrats, Weiner requested a two-week leave of absence from his position in order to obtain treatment to become “a better husband and healthier person.”

However, Democratic politicians became increasingly anxious to put the growing scandal behind them, as it distracted members from more important issues such as problems with Medicare and the need for more jobs. As the scandal gained momentum, a variety of politicians, including Nancy Pelosi, the House Minority Leader, called on him to resign. President Barack Obama said he would resign if he were in Weiner’s place in an interview with ABC News.

“Weiner exercised poor judgment in his actions and poor judgment in his reaction to the revelations,” Pelosi said in a statement after Weiner announced his resignation. “Today, he made the right judgment in resigning.”

The scandal came to light May 27 after Weiner accidentally sent a photograph of his crotch on his public stream on the social networking website Twitter, and then tried to cover it up by blaming hackers for posting the picture, denying all responsibility.

Weiner later admitted sending online messages to other women, including to a 17-year-old high school student in Delaware, though a police investigation uncovered nothing illegal. On Wednesday, a former porn actress revealed that she had engaged in an online relationship with Weiner and that Weiner had asked her to lie about the nature of their contact.

More photos have continued to emerge, including one showing his nude genitals, and others showing him half naked. On Wednesday, the National Enquirer published images of Weiner cross-dressing while he was a college student at the State University of New York at Plattsburgh. In one photo, he is seen wearing a bra and pantyhose, while in another he is oiled and wearing swimming trunks.

Colleagues said Weiner wanted to wait for the return home of his wife, Abedin, before making a final career decision. He has been married for almost a year to Abedin, who is pregnant with the couple’s first child. She is a top aide to Hillary Clinton, the Secretary of State, and the couple’s wedding was presided over by former President Bill Clinton. She returned home to Washington, D.C. on Wednesday morning after having traveled with Clinton in the Middle East and Africa since June 8.

Weiner’s district covers parts of Brooklyn and Queens, boroughs of New York City. He ran an unsuccessful campaign for mayor of New York City in 2005, and he was considered a potential candidate for future races. Known to be an outspoken supporter of liberal causes, he has irked conservatives and Democratic leaders. In 2009, he pushed for government-run health care, even though Obama had opposed the idea.

Monday, October 13, 2008

In an attempt to speak with as many candidates as possible during the 2008 Canadian federal election, Wikinews has talked via email with John Kittredge. John is a candidate in Toronto, Ontario’s St. Paul riding, running under the Libertarian Party banner. Libertarians are a minor, registered political party; they are looking to earn their first ever seat in the House of Commons.

Incumbent Carolyn Bennett of the Liberals is running against Libertarian Kittridge, Conservative Heather Jewell, New Democrat Anita Agrawal, and Justin Erdman, a Green. Bennett was the Minister of Health under previous Prime Minister Paul Martin’s Liberal government. Since it was created in 1935, the riding has been batted about between the Liberals and the now defunct Progessive Conservative party.

The following is an interview with Mr. Kittridge, conducted via email. The interview has had very limited editing, to eliminate in-text mentions of website addresses, but is otherwise left exactly as sent to Wikinews.

Wednesday, July 21, 2021

Wikinews correspondent J.J. Liu spoke with Technological University Dublin (TUD) senior lecturer at the School of Surveying & Construction Management, Dr Lorcan Sirr on Friday regarding the supply of housing in the Republic of Ireland and relevant parallels across the rest of Europe, as well as recent developments by the government and private sector that are causing a rise in rents and home prices in the Irish real estate market.

Dr Sirr is a regular contributor to The Irish Times and has provided commentary to Irish radio station Newstalk, national broadcaster Raidió Teilifís Éireann (RTÉ) and various other publications. In addition to being a chartered planning and development surveyor and assessor to the Society of Chartered Surveyors, Dr Sirr is a Peace Commissioner and former external examiner for the Galway-Mayo Institute of Technology, according to his profile on Worky.

Dr Sirr was a lecturer and former head of research for the Faculty of the Built Environment at the Dublin Institute of Technology, which entered a merger with two partner institutes to become TUD January 1, 2019. He received his bachelor’s degree in estate management at the University of Greenwich, United Kingdom, and master’s degree in urban design and PhD in town planning at the University of Manchester. He has a second master’s in literature from KU Leuven, Belgium, and speaks French.

Friday, July 9, 2010

A California jury in a Humboldt County courthouse ordered nursing home operator Skilled Healthcare (SH) to pay $671 million (about €531 million) in a class action lawsuit from patients of SH’s 22 California facilities and their families. The jury found that SH failed to properly staff its facilities to comply with California state law.

The jury has not heard the case for punitive damages; however, it awarded the plaintiffs $613 million (about €484 million) in statutory damages. The remaining $58 million (about €46 million) was in restitution.

After the verdict was issued, Skilled Healthcare stocks plunged over 75% to a record low.

An official statement from SH says it “strongly disagrees” with the jury’s verdict. SH plans on filing an appeal to the decision. The company could possibly face bankruptcy because of this verdict.

One of the lawyers for the nearly 32,000 plaintiffs, Timothy Needham, claimed that inadequate staffing levels put SH’s patients at risk. He said, “The company knows that this lack of staffing causes a higher risk of problems for patients. Call lights don’t get answered, persons don’t get proper hygiene, persons don’t get their medications on time or the care they need.”

This lawsuit does not apply to SH’s facilities in Arizona, Iowa, Kansas, Missouri, Nevada, New Mexico, and Texas.

Monday, December 3, 2007

At Thanksgiving dinner David Shankbone told his white middle class family that he was to interview Reverend Al Sharpton that Saturday. The announcement caused an impassioned discussion about the civil rights leader’s work, the problems facing the black community and whether Sharpton helps or hurts his cause. Opinion was divided. “He’s an opportunist.” “He only stirs things up.” “Why do I always see his face when there’s a problem?”

Shankbone went to the National Action Network’s headquarters in Harlem with this Thanksgiving discussion to inform the conversation. Below is his interview with Al Sharpton on everything from Tawana Brawley, his purported feud with Barack Obama, criticism by influential African Americans such as Clarence Page, his experience running for President, to how he never expected he would see fifty (he is now 53). “People would say to me, ‘Now that I hear you, even if I disagree with you I don’t think you’re as bad as I thought,'” said Sharpton. “I would say, ‘Let me ask you a question: what was “bad as you thought”?’ And they couldn’t say. They don’t know why they think you’re bad, they just know you’re supposed to be bad because the right wing tells them you’re bad.”