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Wednesday, March 16, 2005

The United Kingdom Chancellor of the Exchequer, the Right Honourable Gordon Brown PC MP, in a speech to the British House of Commons today presented his ninth Budget, what is very likely to be his last Budget before the next UK General Election. This opened the parliamentary debate on the 2005 Finance Bill, and was followed by responses from the opposition parties.

In a 48 minute long speech, the Chancellor presented a Budget of “tax cuts that are reasonable, spending that is affordable, and [economic] stability that is paramount”, that was “the prudent course for Britain”. There were few surprises that had not already been indicated in his 2004 pre-Budget report. The increase in the threshold on stamp duty was greater than that forecast by commentators, as was the amount of the Council Tax rebate to households with pensioners.

Sunday, January 16, 2022

United Kingdom-based pharmaceutical giant GlaxoSmithKline (GSK) confirmed January 15 it had rejected three “unsolicited, conditional and non-binding proposals” by Unilever to acquire its Consumer Healthcare division, including one bid of GBP50 billion in value made on December 20, believing Unilever “fundamentally undervalued” the business and its potential.

News that Unilever attempted to buy GSK Consumer Healthcare for 50 billion pounds, split between GBP41.7 billion in cash and 8.3 billion in Unilever shares, was first reported by The Sunday Times, and subsequently confirmed by both companies. Had the latest acquisition offer gone through, it would have been the largest deal since the beginning of the Covid-19 pandemic, and one of the biggest ever among companies listed on the London Stock Exchange.

A deal would likely mean integrating the GSK division into Unilever’s own beauty and personal care business, which has seen profit margins struggle under Covid-19 lockdowns and higher costs for plastics and petrochemicals.

A brief response on the Unilever website confirmed it “had approached GSK and Pfizer about a potential acquisition”, and adds GSK Consumer Healthcare “would be a strong strategic fit” as the company looks to rework its portfolio. GSK indicated the proposals were “carefully evaluated” by its board of directors, but unanimously rejected under the conclusion they “were not in the best interests of GSK shareholders” and “failed to reflect the intrinsic value of the business and its potential”.

The Sunday Times have indicated the latest deal did not include an acquisition premium or recognition of corporate synergies; the joint venture between GSK and healthcare firm Pfizer, which holds a minority stake in the company, was initially projected to generate GBP500 million in cost savings by this year and realise “substantial cost synergies”. The BBC’s business editor Simon Jack wrote that a standard takeover premium would be about 30%, but could be reduced over the GBP10 billion in debt GSK was predicted to “leave on the books”, of the GBP22 billion net debt GSK reported for Q3 2021.

The deals were assessed by the Board respective of a proposed demerger of GSK Consumer Health into a separate PLC in the middle of this year. Jack wrote GSK “always” had “an open mind to a trade sale to another party if the price was right.” Unilever did not take into account the standard takeover premium, the value of cost savings and Board confidence Consumer Health could deliver “superior organic sales growth” of between four and six per cent in the medium term. This was despite valuations of about GBP50 billion by Goldman Sachs and Barclays analysts, and a lower GBP45 billion valuation by Jeffries Group.

There are no current talks between Unilever and either Pfizer or GSK, and the Unilever statement reads: “There can be no certainty that any agreement will be reached.” Under CEO Alan Jope, Unilever has focused its investments and marketing on brands which “communicate a strong environmental or social purpose” by streamlining its holdings in items like beauty products and tea. Jope previously said Unilever would concentrate on smaller takeovers in industries like luxury beauty and wellness.

However, Russ Mould, investment director at AJ Bell, told the BBC this would be a “high risk deal” at a time investors are cautious about GSK’s performance, but also a time of rising inflation he says encourages “consumer goods with loyal customers”. Mould added despite strong cashflow, Unilever had recently missed targets on sales and profit margins, putting pressure on the CEO.

Pressure by activist shareholders Elliott Management Corporation and Bluebell Capital Partners have also mounted against GSK CEO Emma Walmsley over the unit’s failure to develop a Covid-19 vaccine and Walmsley’s own lack of scientific experience. GSK has been involved in the ongoing development of a Covid-19 vaccine with French biopharmaceutical company Sanofi, and announced preliminary results from Phase 3 trials last month.

In 2018, Unilever bought several consumer nutritional products from GSK, including its flagship product Horlicks, and merged its Indian subsidiary, Hindustan Unilever, with GSK Consumer Healthcare India.

Saturday, October 21, 2006

Evangelist Kent Hovind and his wife, Jo, are trying to convince a federal jury that their money from video and amusement park admission sales belong to God and cannot be taxed. The trial began at United States District Court for the Northern District of Florida on Tuesday October 18, 2006 after twelve jury members and two alternates were selected to decide on the 58 federal courts against Hovind and his wife. The trial was expected to take at least two weeks to complete with the prosecution hoping to rest its case Tuesday, but a defense attorney became ill and the Judge delayed the trial until October 30th.

Hovind is a Young Earth creationist who does many speaking engagements and debates. He also sells videos giving a pro-creationism perspective, which he receives income for. Hovind, who calls himself “Dr. Dino”, received a Ph.D in “Christian education” from the unaccredited correspondence school Patriot Bible University in 1991.

Prosecutor Michelle Heldmeyer said from 1999 to March 2004, the Hovinds took in more than $5 million. Heldmeyer charged Hovind on 12 counts for failing to pay about $470,000 in federal income, Social Security and Medicare taxes for his ministry employees between March 31, 2001, and Jan. 31, 2004. Counts 13 through 57 include Hovind’s wife for making 45 transactions in a little more than a year, sometimes taking out as much as $9,500 at a time. Banks are required to report cash withdrawals that exceed $10,000.

In count 58 against Kent includes filing a frivolous lawsuit against the IRS, demanding damages for criminal trespass, filing an injunction against an IRS agent, making threats against investigators and those cooperating with the investigation, and filing false complaints against the IRS for false arrest, excessive use of force and theft.

In July with his attorney, Public Defender Kafahni Nkrumah, Hovind stated that he did not recognize the government’s right to try him on tax-fraud charges.

This is not the first time Hovind has found himself in legal trouble. In 2002 he refused to get a $50.00 building permit for his Dinosaur Adventure Land, and after three years of legal battles the court ruled that he get a permit or the building would be razed. The park, which depicts dinosaurs as coexisting with humans in the last 6-4,000 years with the more recent “dinosaurs” being the Loch Ness monster, is reportedly open after Hovind paid for the permit and fines totaling $10,402.64.

More directly, M.C. Powe, an IRS officer who investigates people who have unpaid tax returns or unpaid tax liabilities, testified at Hovind’s current trial on October, 19, 2006 that she first attempted to collect taxes from the Hovinds in 1996. She noted Hovind tried several “bullying tactics” that included suing her at least three times. These resulted in each case being thrown out.

Assistant U.S. Attorney Benjamin Beard handled Hovind’s bankruptcy in 1996 testified on Wednesday that in 1996 after Hovind’s vehicles were seized by the IRS, he filed under the Chapter 13 “wage-earner plan,” available only to those who have a regular source of income. However, Hovind wrote that he had no form of income, that he rejected his Social Security number and that his employer was God, Beard testified.

In a 2005 affidavit, the Hovinds argue that Social Security is essentially a “Ponzi scheme.” The Hovinds referred to the United States Government as “the ‘bankrupt’ corporate government” and said they were renouncing their United States citizenship and Social Security numbers to become “a natural citizen of ‘America’ and a natural sojourner.”

On Thursday an employee of AmSouth Bank explained that the Currency Transaction Reports requires the bank to report any time a cash amount of $10,000 or more is withdrawn or deposited. This employee noted that various records demonstreated Jo Hovind had made transactions up to $15,000 at a time.

Also on Thursday Hovind’s former neighbor testified regarding Hovind’s purchasing of her Palafox Street home. On the stand she said Hovind paid her $30,000 in cash as part of the $155,000 sale.

In this week’s trial two of Hovind’s workers testified in federal court that they didn’t consider where they worked to be a church. In court Hovind maintains he does not have to pay the taxes because his employees were “volunteers,” “missionaries” or “ministers” and his business was a ministry.

However, Brian Popp, Hovind’s employee for at least eight years, said he considered himself a minister at the time of his employment, but said Hovind’s ministry isn’t a church. Popp also testified that Hovind knew about the bank’s requirement to report transactions over $10,000 and said it was “not safe to carry large sums of cash.”

Further, Popp said Hovind told his workers not to accept mail addressed to “KENT HOVIND” because Hovind told the workers the government created a corporation in his “all-caps name” and if the mail was accepted, Hovind claimed, it would be accepting the responsibilities associated with that corporation.

Diane P. Cooksey, served as a sales representative for the ministry from January 2003 to June 2005, and said Hovind expected to pay her own taxes. Cooksey said, “He explained what his belief was, right up front in the interview, that I would pay my own taxes.” As told’s worker, she received $10 an hour in a weekly paycheck, punched a time clock, was given 10 paid vacation days a year, and considered herself an employee, not a missionary as a few others called themselves.

The IRS raided Hovind’s Dinosaur Adventure Land in April 2004, after which Hovind required his employees to sign nondisclosure agreements. “I was uncomfortable signing it, I guess, because of not having a full understanding,” Cooksey said.

Rebekah Horton, vice president of the unaccredited Pensacola Christian College, took the stand on the second day of the trial and testified that “We know the Scriptures do not promote (tax evasion)”. “It’s against Scripture teaching.”

Horton was given a videotape in the mid 1990s from a woman who worked for Hovind. The video contained “another evangelist advocating tax evasion,” Horton explained. The woman who gave the tape to Horton claimed Hovind’s philosophy as “You were giving a gift with your work, and they were giving a gift back to you.”

Pensacola Christian College decided to disallow its students from working with Hovind’s Creation Science Evangelism and reported Hovind’s scheme to the IRS.

On Friday, attorney David Charles Gibbs testified that Hovind claimed he had no obligation to pay employee income taxes and explained with “a great deal of bravado” how he had “beat the tax system.” Gibbs is an attorney with the Gibbs Law Firm, also is affiliated with the Christian Law Association, a nonprofit organization founded by his father that offers free legal help to churches nationwide in a suburb of St. Petersburg, Florida. Gibbs attended the Marcus Pointe Baptist Church when Hovind was a guest speaker at the church on October 17, 2004. Hovind invited Gibbs and others to Hovind’s home for pizza and soda.

Gibbs testified they talked for many hours, and Hovind “tried to stress to me that he was like the pope and this was like the Vatican.” Also Gibbs explained Hovind also told him he preferred to deal in cash because “dealing with cash there is no way to trace it, so it wasn’t taxable.”

Later on Friday, Special IRS Agent Scott Schneider took up the remainder of the day and is expected to resume Monday. Schneider told the jury his investigation revealed that Hovind “hadn’t filed tax returns ever, to my knowledge.”

Hovind tried suing the IRS and Schneider several times to avoid providing information required by the IRS. Each filing was thrown out by the judges.

Schneider’s discussed documents seized during the 2004 raid of Hovind’s property. These documents, Schneider explained, indicated Hovind ran his ministry as a business with “meticulous” payroll documents and a time clock employees had to punch in and out.

In the raid cash was found “all over the place.” Ultimately, $42,000 in cash was seized along with half-dozen guns (including a SKS semiautomatic) at the Hovinds’ home.

The Pensacola News Journal noted that “in one memo, Jo Hovind informed her daughter, who works at the park, that her pay would be docked $10 for talking too long on the telephone when she should have been working.”

Wednesday, November 9, 2005

The Dover, Pennsylvania school board became the first to mandate inclusion of Intelligent Design in a public school biology curriculum. For this year’s November 8 election, Republicans fielded a pro-Intelligent Design slate of candidates including some returning candidates who had previously voted to include a statement about Intelligent Design in the biology curriculum. A mixed slate of Democrat and Republican candidates came forward as an alternative group of school board candidates, the Dover CARES coalition. They proposed to remove Intelligent Design from the biology curriculum but allow discussion of Intelligent Design in courses dealing with philosophy and comparative religion.

All eight open school board seats were won by Dover CARES coalition candidates. Two candidates who had previously voted as school board members to include intelligent design in the public school science curriculum received the fewest votes in Tuesday’s election. One of the newly elected board members is Bryan Rehm, a parent of a Dover school student. Rehm, along with ten other parents, initiated a law suit against the school board for its decision to insert Intelligent Design into the science curriculum.

In October 2004, the Dover school board decided that Intelligent Design is a scientific theory that should be mentioned in biology classes that include discussion of biological evolution as part of the course content. The board mandated that a statement should be read in those classes stating “Intelligent Design is an explanation of the origin of life,” and “The school leaves the discussion of the Origins of Life to individual students and their families.”

The school board’s statement on Intelligent Design directs students to the book Of Pandas and People as a source of information “for students who might be interested in gaining an understanding of what Intelligent Design actually involves.” This book is published by the Foundation for Thought and Ethics, a non-profit organization founded for the purpose of “promoting and publishing textbooks presenting a Christian perspective.”

Parents of some Dover public school students filed a lawsuit against the school board, charging that including the school board’s statement on Intelligent Design was an attempt to introduce religion into the science curriculum. The book Of Pandas and People says, “Intelligent design means that various forms of life began abruptly through an intelligent agency.” The original complaint in the law suit against the school board claimed that “Intelligent design is a non-scientific argument or assertion.”

The US District Court Judge John Jones, who heard the non-jury case, hopes to make his ruling by the end of the year. The evidence phase of the trial ended on November 4, 2005.

A local Dover newspaper, the York Daily Record, editorialized that Dover voters should take trial testimony into account during the general election when they could cast votes for school board members along with other elective offices.

Biology teachers in the Dover schools have refused to read the school board’s statement on Intelligent Design to students because the Pennsylvania state code for education states that “The professional educator may not knowingly and intentionally misrepresent subject matter.” In a letter to their administrator, the teachers stated their view that “Intelligent design is not science.” School administrators have been reading the school board’s Intelligent Design statement to students in Dover public schools.

Friday, March 3, 2006

Australian swimmer Ian Thorpe is reported to be feeling much better after suffering from chest pain for some time.

The Olympic gold medalist was due to swim in the 100m and 200m freestyle and in three relays at the Commonwealth Games, but due to his complaints his fitness has been in doubt. He has been unable to take the drugs needed to overcome his pain as they are banned from the Games.

Thorpe told the media Thursday “It’s actually the best I’ve felt in a while; the antibiotics are starting to work.”

Thursday, February 4, 2010

With a state by-election coming up in Victoria, Australia, many minor parties and independent candidates will be looking to gain a seat in the Legislative Assembly. Liz Mumby is one of the independents.

“I am a medical sales professional, a wife and mother and a small business owner,” says Mumby, the Division of Altona. “I don’t come from a political background, I live in the real world.” She argues that “we should not limit the debate to public transport issues just because the retiring member was the Minister for Public Transport.”

Wikinews reporter Patrick Gillett held an exclusive email interview with Mrs. Mumby.

Thursday, January 7, 2010

With this year’s November midterm elections fast approaching, three prominent United States Democrats announced their plans for retirement from public service on Wednesday.

Powerful and influential—yet controversial for his alleged close ties to the financial sector and his handling of last year’s bailout—Senator Christopher Dodd of Connecticut announced that he would not be seeking a sixth term this year.

In a speech to his supporters in East Haddam, Connecticut, the sixty-five-year-old senior senator—with his family at his side—said, “I have been a Connecticut senator for thirty years. I’m very proud of the job I’ve done and the results delivered. But none of us is irreplaceable. None of us is indispensable.”

He then went on to say, “Over the past twelve months, I’ve managed four major pieces of legislation through the United States Congress, served as chair and acting chair of two major Senate committees, placing me at the center of the two most important issues of our time—health care and reform of financial services.”

In addition to highlighting some personal travails, Dodd alluded to his precarious political situation, “I lost a beloved sister in July, and in August, Ted Kennedy. I battled cancer over the summer, and in the midst of all of this, found myself in the toughest political shape of my career.”

Despite this, Dodd adamantly maintained that none of the above reasons were the causes for his retirement. He said that his reasons were more “personal,” and that his retirement would hopefully give him a much-wanted opportunity to spend more time with his family.

Senator Byron Dorgan of North Dakota announced that he would not run for re-election this year either.

“Although I still have a passion for public service and enjoy my work in the Senate, I have other interests and I have other things I would like to pursue outside of public life,” said the sixty-seven-year-old, three-term senator who said he came to this decision after discussing his future with his immediate family over Christmas.

Governor of Colorado, Bill Ritter announced that he too would not seek a second term. The fifty-three-year-old freshman governor said that although he felt his race was “absolutely winnable,” after some deep “soul searching,” he realized that he truly wanted to retire from politics nonetheless. This due to the fact that he felt his main priority should be to be a better husband to his wife as well as a better father to their four children.

When asked to comment on Senator Dodd’s retirement on behalf of the Administration, Vice President Joseph Biden said Dodd would “be long recognized as one of the most significant senators of my generation.”

He furthermore stated, “I believe the nation will miss his wisdom, wit and compassion. I count myself lucky because I know he’s not going too far and will always be a source of advice and counsel.”

Biden gave similar comments and expressed like sentiments about the retirement of his other two Democratic colleagues as well.

Wednesday, October 12, 2005

The lawyer for one of the members of the so called Bali Nine is claiming he will challenge the legality of the indictment against his client.

Adnan Wirawan, the lawyer of Martin Stephens from Wollongong, says his client has been unfairly accused as being the ring leader of an alleged conspiracy to smuggle drugs: “He’s a human suitcase… he was being told what to do.”

Stephens appeared in Denpasar District Court on Wednesday. The prosecution claimed that Stephens and Renae Lawrence, from Newcastle, had their hotel and trip to Bali paid for by the accused mastermind, Andrew Chan.

Stephens’ mother, Michelle, was in court for her son’s first appearance and says she will support him throughout his trial: “I’m here to support my son, and I love him and I believe in him. And that’s all I can say.”