Tuesday, May 15, 2007

Virgin Media announced weak results last week, in part due to competition from Sky. Virgin Media lost 47,000 customers from January to March 2007, while Sky gained 51,000 customers in the same time period.

Franklin Mutual Advisers, which has 9.4% of the Virgin Media shares (Sir Richard Branson owns 11%) wants to have a meeting with Virgin Media about its “strategic direction, corporate governance and management”. Franklin Mutual Advisers is known to take great interest in the companies in which it invests.

This has caused many of the other investors of Virgin Media to demanding meetings with the management of the company. The demands are due to confusion among shareholders at the direction in which the company is heading, The Guardian reports. After the attempt to buy ITV was stopped last year, the shareholders think that Virgin Media may lose its battle with Sky and TalkTalk.

Another issue causing concerns amongst investors is the £25.2 million pay cheques for the top seven executives of Virgin Media. Virgin Media reported a £15.3 million loss last year.

Saturday, April 30, 2005

The British Food Standards Agency (FSA) has announced a recall of foods containing banned dyes which increase the risk of cancer. The food products were sold at the Tesco, Waitrose, and Somerfield supermarkets.

A Bristol company called “Barts Spices” found the illegal Para Red substance in their Barts Ground Paprika, which was sold in 48g and 46g jars with a “Co-op” label. The batch codes on the affected products are 5032 and 5089 (expiration Dec 2007), and 5075 (expiration February 2007).

Tesco also found that their 130g package of BBQ rice cakes (expiration November and December 2005) contained both Para Red and Sudan I.

“It would be very prudent to assume that it could be a genotoxic carcinogen,” FSA scientific advisers told reporters.

“As a company committed to supplying only the very finest quality food ingredients, we took the immediate decision to withdraw our ground paprika spice from all outlets selling the product and advertised a product recall in the national press,” a Barts Spices spokesman said in a statement.

Sudan I is only authorized for industrial use to colorize petroleum products, such as shoe polish. Para Red and Sudan I are banned under the British Colours in Food Regulations of 1995.

Britain last went through a major food recall in February, when Worcester Sauce was found to contain chili powder dyed with Sudan 1.

Sunday, May 29, 2005

Brazil —Denunciations of political corruption threaten the Brazilian government. The most recent case involves a deputy of the political party PTB (who supports the government of the Brazilian President Luiz Inácio Lula da Silva) in a scandal of the services of post office.

Lula’s government representatives said that they will investigate all the denunciations and affirmed that the government is a victim of political enemies.

Sunday, July 22, 2007

United Arab Emirates (UAE) developer Emaar Properties has claimed that their Burj Dubai commercial and residential tower, currently under construction, has become the world’s tallest building, reaching a height of 512.1 metres (or 1,680 feet) and 141 storeys.

The current official record holder, Taipei 101 of Taiwan, has a height of 508 metres and 101 storeys, and will retain the “tallest building” title for some time to come. The Council on Tall Buildings and Urban Habitat sets the criteria for achieving height records for buildings, and will not evaluate the Burj Dubai until construction is complete in late 2008. Although final height details have been kept secret by the developer, the Burj Dubai is expected to reach nearly 700 metres in height, with approximately 160 storeys.

The current record holder for the world’s tallest free-standing structure is the CN Tower in Toronto, Canada. It has a height of 553 metres. The Burj Dubai, therefore, would claim both records when it is completed.

Once the Burj Dubai is completed, it will have required 330,000 cubic metres of concrete, 39,000 tonnes of steel and 142,000 square metres of glass, according to Emaar Properties. The building will have 56 lifts (elevators) that can move at a rate of speed of 1.75 to 10 metres per second.

Dubai is undergoing a construction boom currently with the Burj Dubai as the planned centrepiece of a $US20 billion project, which will eventually realize some 30,000 apartments and boast the world’s largest shopping mall.

There have been criticisms of the working conditions for construction workers in the UAE. A majority of the estimated 500,000 construction workers in the UAE are foreign workers from India, Pakistan and Bangladesh.

In a 2006 report on the UAE’s treatment of migrant workers, entitled Building Towers, Cheating Workers, Human Rights Watch documented abuses in UAE such as, “extremely low wages, several years of indebtedness to recruitment agencies for fees that UAE law says only employers should pay, the withholding of employees’ passports, and hazardous working conditions that result in apparently high rates of death and injury.”

In October of last year, Human Rights Watch delivered specific recommendations to the UAE government for improvement of working conditions. The UAE government acted swiftly on the report and put in place several improvements, which were applauded by Human Rights Watch.

However, the salaries of migrant construction workers remain in the range from $106 to $250 per month, while the national average wage is over $2,000 per month. Trade unions remain illegal in the UAE.

Tuesday, May 17, 2005

Microsoft Corporation announced plans to launch a new security product later this year, named Windows OneCare.

Product features are to include anti-virus software capabilities, a new firewall and PC tune ups. The PC tune ups include utilities for improved backup and restore capabilities, and easy access to Windows PC maintenance tools for file repair and hard drive clean up.

The major elements of the product are:

• A firewall that (unlike Windows Firewall but like third party personal firewall products for Windows) prevents unauthorized programs from making outgoing connections
• Anti-spyware, based upon Microsoft AntiSpyware
• Virus protection, based upon technology bought by Microsoft from the Romanian company GeCAD
• Scheduled disc cleanup and defragmentation.
• Automatic backup to writable CD or DVD.

An early beta version of product, not including the anti-spyware capability, has already been released to Microsoft employees. A public beta is scheduled for later in 2005.

Microsoft plans to make Windows OneCare available to customers for a yearly subscription fee.

Recently, Microsoft bought Giant software, makers of antivirus and spyware prevention software. Windows Anti-Spyware software is already built on this system.

Tuesday, August 2, 2005

Massey Energy Co., the fourth largest coal producer in the U.S., filed a federal lawsuit against the Governor of West Virginia, Joe Manchin.

Massey’s CEO Don Blankenship alleged that Gov. Manchin acted in retaliation against the company’s coal mining operations because the company spent $650,000 in an advertising campaign to defeat the governor sponsored pension bond proposal. The $5.5 billion bond proposal, intended to shore up the state’s sagging pension plan, was defeated in a special election held in June.

The Massey lawsuit, filed last Tuesday on July 26 in the U.S. District Court in the W.V. southern district, was referred to by Gov. Manchin as having less to do with the bond proposal than with the newly increased state “severance tax” on coal. Nearly 40 million tons of coal production will be subject to the 56-cent tax.

According to Blankenship, that tax amounts to $22.4 million in additional costs for the company, but he denied the increase has anything to do with the lawsuit.

The company reported profits that almost tripled during the second quarter compared to a year ago. Of the company’s rosy earnings picture, Blankenship urged states to “show some frugality” by not placing tax burdens on coal to solve state budget shortfalls. He said his company is “playing a role” because there was no need for the bond sale and the state can afford to make payments into the pension system.

Blankenship acknowledged during a conference call the now-rescinded June 30 permit by the W.V. Department of Environment Protection (DEP). At issue was the department’s permit for mining operations near the Marsh Fork Elementary School, in Sundial, W.V. The school rests at the base of a mountain selected by Massey for “Mountain Top Removal” (MTR) mining techniques. Along with the mining equipment, a coal preparation plant and a sludge pond were established on the mountain. Protest groups, mainly the Coal River Mountain Watch and Mountain Justice Summer, presented a list of demands to Massey officials that included shutting down the preparation plant, ceasing all MTR mining above the Marsh Fork Elementary School, and abandoning plans for a second coal silo near the school. They also ask that the Marsh Fork school be cleaned up or relocated. The state permit for a second coal storage silo was rescinded by the DEP the same day Massey filed the Manchin lawsuit.

Gov. Manchin in June said that Blankenship could expect tougher state scrutiny of his business affairs since the Massey media campaign against the pension bond proposal. “I think that is justified now, since Don has jumped in there with his personal wealth trying to direct public policy,” he said at an appearance at an American Electric Power event in Putnam County.

Monday, November 28, 2005

SpaceX called off the much-delayed inaugural launch of their new Falcon 1 rocket on Saturday from Kwajalein’s Omelek Island launch site. The intent was to launch the U.S. Air Force Academy’s FalconSat 2 satellite, which will monitor plasma interactions with the Earth’s upper atmosphere and magnetosphere.

The launch was delayed, then finally cancelled after an oxygen boil-off vent had accidentally been left open. The oxygen was unable to cool the helium pressurant, which then proceeded to evaporate faster than it could be replenished. A main computer issue, probably serious enough to cause a scrub on its own, was also discovered.

This long-anticipated flight was originally expected to be launched in January 2005, however a series of setbacks forced a series of delays, with the flight most recently scheduled to be in early 2006. It was intended to be launched from the Kwajalein atoll in the middle of the Pacific Ocean.

The maiden voyage was originally intended to launch from Vandenberg Air Force Base in California with a Naval Research Laboratory satellite and a Space Services Incorporated space burial payload.