Saturday, December 24, 2011

On Wednesday the Lansing, Michigan Capital Region International Airport and surrounding land was designated as an “aerotropolis” by the Michigan Economic Development Corporation Strategic Fund board. The Next Michigan Development program allows the airport to offer tax incentives in order to attract manufacturing, distribution, and technology businesses to the surrounding area.

Incentives can include property tax abatements or the elimination of most state and local taxes for a specified period of time. To qualify for the incentives, a company would have to start a new venture on airport property or expand an existing one. Additionally, companies need to use a minimum of two out of four transportation modes – freight, air, rail, or water.

The airport, in DeWitt Township, is the second in Michigan to receive an aerotropolis designation. The state’s other aerotropolis is located in the area surrounding Detroit Metropolitan and Willow Run airports. In October the city of Lansing and DeWitt Township approved a 425 tax-sharing agreement on the property, designating approximately 850 acres (344 ha) of land as available for future development.

Thursday, August 6, 2009

American film director John Hughes, noted for such movies as Sixteen Candles, Pretty in Pink and The Breakfast Club, died Thursday due to a heart attack.

A statement, released by his representative, said that he experienced the heart attack while on a morning stroll in Manhattan, New York. Hughes was born on February 18, 1950 in Michigan. He started his career as an advertising copywriter in Chicago. By the end of the 1970s he was a frequent contributor to the National Lampoon magazine.

In the 1990s, he made the Home Alone series, which became a box office sensation and turned Macaulay Culkin into a star.

In recent years, Hughes stepped back from the movie industry to spend more time with his family. He is survived by his wife of 39 years, Nancy, two sons and four grandchildren.

Sunday, June 17, 2007

The National Transportation Safety Board (NTSB), the agency responsible for investigating transportation accidents in the United States, released updates on three major investigations on June 14.

The NTSB, well known publicly for its involvement in the investigation of aviation incidents which involve harm or loss of human life, is also an agency that oversees the transportation of refined petroleum and gas products, chemicals and minerals.

The agency determined the cause of a natural gas pipeline explosion that killed six. It also detailed the cause of an accidental release of 204,000 gallons of anhydrous ammonia from a pipeline in an environmentally sensitive area, and released preliminary information involving two commercial aircraft coming within 30-50 feet of each other on a runway.

In the gas explosion disaster, the towing vessel Miss Megan, which was of specifications that did not require inspection by the United States Coast Guard, was being operated in the West Cote Blanche Bay oil field in Louisiana by Central Boat Rentals on behalf of Athena Construction on October 12, 2006. The Miss Megan was pushing barge IBR 234, which was tied along the starboard side of barge Athena 106, en route to a pile-driving location. Athena Construction did not require its crews to pin mooring spuds (vertical steel shafts extending through wells in the bottom of the boat and used for mooring) securely in place on its barges and consequently this had not been done. During the journey, the aft spud on the Athena 106 released from its fully raised position. The spud dropped into the water and struck a submerged, high-pressure natural gas pipeline. The resulting gas released ignited and created a fireball that engulfed the towing vessel and both barges. The master of the towing vessel and four barge workers were killed. The Miss Megan deckhand and one barge worker survived. One barge worker is officially listed as missing.

The NTSB blames Athena Construction for the disaster, citing in the final report that Athena Construction’s manual contained no procedures mandating the use of the safety devices on the spud winch except during electrical work. It was found that if the Athena 106 crew had used the steel pins to secure the retracted spuds during their transit, a pin would have prevented the aft spud from accidentally deploying. Furthermore, the spud would have remained locked in its lifted position regardless of whether the winch brake mechanism, the spud’s supporting cable, or a piece of connecting hardware had failed.

The NTSB also found that contributing to the accident was the failure of Central Boat Rentals to require, and the Miss Megan master to ensure, that the barge spuds were securely pinned before getting under way. The Board noted that investigators found no evidence that the Miss Megan master or deckhand checked whether the spuds had been properly secured before the tow began. While Central Boat Rentals had a health and safety manual and trained its crews, the written procedures did not specifically warn masters about the need to secure spuds or other barge equipment before navigating. The NTSB stated that the company’s crew should have been trained to identify potential safety hazards on vessels under their control.

NTSB Chairman Mark Rosenker said of the investigation’s results, “Having more rigorous requirements in place could have prevented this accident from occurring. Not only do these regulations need to be put in place but it is imperative that they are enforced and adhered to.”

The NTSB has made a number of safety recommendations as a result of this accident and the subsequent investigation. Recommendations were made to Athena Construction and Central Boat Rentals to develop procedures and train the employees of its barges to use the securing pins to hold spuds safely in place before transiting from one site to another.

The most major of the other recommendations are:

To the Occupational Safety and Health Administration:

• Direct the Maritime Advisory Committee for Occupational Safety and Health to issue the following documents document to the maritime industry: (1) a fact sheet regarding the accident, and (2) a guidance document regarding the need to secure the gear on barges, including spud pins, before the barges are moved, and detailing any changes to your memorandum of understanding with the Coast Guard.

To the U. S. Coast Guard

• Finalize and implement the new towing vessel inspection regulations and require the establishment of safety management systems appropriate for the characteristics, methods of operation, and nature of service of towing vessels.
• Review and update your memorandum of understanding with the Occupational Safety and Health Administration to specifically address your respective oversight roles on vessels that are not subject to Coast Guard inspection.

The NTSB also released the result of its investigation into an environmental disaster in Kansas on October 27, 2004 in which 204,000 gallons (4,858 barrels) of anhydrous ammonia was spilled from a ruptured pipeline in Kingman into an environmentally sensitive area. Chemicals from the pipeline entered a nearby stream and killed more than 25,000 fish, including some fish from threatened species.

The incident reached the scale that it did due to operator error after the initial rupture. The 8 5/8-inch diameter steel pipeline, which was operated by Enterprise Products Operating L.P., burst at 11:15 a.m. in an agricultural area about 6 miles east of Kingman, Kansas. A drop in pipeline pressure, indicating abnormal conditions or a possible compromise in pipeline integrity, set off alarms displayed on the computerized pipeline monitoring system. Shortly after the first alarm the pipeline controller, in an attempt to remedy the low pressure, increased the flow of anhydrous ammonia into the affected section of pipeline. A total of 33 minutes elapsed between the time when the first alarm indicated a problem with the pipeline and the initiation of a shutdown.

In its initial report to the National Response Center (NRC), the pipeline operator’s accident reporting contractor reported a release of at least 20 gallons of ammonia, telling the NRC that an updated estimate of material released would be reported at a later time. No such report was ever made. Because of the inaccurate report, the arrival of representatives from the Environmental Protection Agency was delayed by a full day, affecting the oversight of the environmental damage mitigation efforts.

The cause of the rupture itself was determined to be a pipe gouge created by heavy equipment damage to the pipeline during construction in 1973 or subsequent excavation activity at an unknown time that initiated metal fatigue cracking and led to the eventual rupture of the pipeline.

“We are very fortunate that such highly toxic chemicals of the size and scope involved in this accident were not released in a populated area,” commented Rosenker. “Had this same quantity of ammonia been released near a town or city, the results could have been catastrophic.”

As a result of this accident, the NTSB made the following safety recommendations:

To the Pipeline and Hazardous Materials Safety Administration:

• Require that a pipeline operator must have a procedure to calculate and provide a reasonable initial estimate of released product in the telephonic report to the National Response Center.
• Require that a pipeline operator must provide an additional telephonic report to the National Response Center if significant new information becomes available during the emergency response.
• Require an operator to revise its pipeline risk assessment plan whenever it has failed to consider one of more risk factors that can affect pipeline integrity.

To Enterprise Products Operating L.P.:

• Provide initial and recurrent training for all controllers that includes simulator or noncomputerized simulations of abnormal operating conditions that indicate pipeline leaks.

“The severity of this release of dangerous chemicals into the community could have been prevented,” said Rosenker. “The safety recommendations that we have made, if acted upon, will reduce the likelihood of this type of accident happening again.”

As well as concluding their investigation of the above accidents, the NTSB also released preliminary information regarding a serious runway incursion at San Francisco International Airport between two commercial aircraft on May 26, 2007.

At about 1:30 p.m. the tower air traffic controller cleared SkyWest Airlines flight 5741, an Embraer 120 arriving from Modesto, California, to land on runway 28R. Forgetting about the arrival airplane, the same controller then cleared Republic Airlines flight 4912, an Embraer 170 departing for Los Angeles, to take off from runway 1L, which intersects runway 28R.

After the SkyWest airliner touched down, the Airport Movement Area Safety System (AMASS) alerted and the air traffic controller transmitted “Hold, Hold, Hold” to the SkyWest flight crew in an attempt to stop the aircraft short of runway 1L. The SkyWest crew applied maximum braking that resulted in the airplane stopping in the middle of runway 1L. As this was occurring, the captain of Republic Airlines flight 4912 took control of the aircraft from the first officer, realized the aircraft was traveling too fast to stop, and initiated an immediate takeoff. According to the crew of SkyWest 5741, the Republic Airlines aircraft overflew theirs by 30 to 50 feet. The Federal Aviation Administration has categorized the incident as an operational error.

The NTSB sent an investigator to San Francisco, who collected radar data, recorded air traffic control communications, and flight crew statements, and interviewed air traffic control personnel prior to the NTSB making the preliminary release.

Friday, December 14, 2007

Former Canadian Prime Minister Brian Mulroney testified Thursday before an ethics committee in the Canadian House of Commons about the Airbus affair, a case involving alleged bribery at the highest levels of government to secure Airbus sales of aircraft to Air Canada.

In his testimony, Mulroney said that he should not have associated with German businessman Karlheinz Schreiber nor should have he accepted bundles of cash — which he placed in safe deposit boxes in two different countries.

Nonetheless, Mulroney denied accepting kickbacks. He admitted taking about CAD225,000 in cash from Schreiber in 1993 and 1994, which was after his departure from politics. He also said that the money involved promoting Schreiber’s private business dealings.

To the committee Muroney said: “When I look back on it today, I realize I made a serious error of judgment in receiving a payment in cash for this assignment even though it was decidedly not illegal to do so. That mistake in judgment was mine alone. I apologize and I accept full responsibility for it. … I should have declined the offer. I should have insisted that payment be in a more transparent or more accountable manner. By not doing so I inadvertently created an impression of impropriety on the high office I was privileged to hold.”

“Do you realize, Mr. Mulroney, that the way in which you acted in this matter did not make it appear that it were a legitimate transaction,” said MP Serge Ménard of Bloc Québécois.

Two days earlier, Schreiber testified before the same committee, alleging that Mulroney agreed to accept CAD300,000 to promote a light armored vehicle factory and benefited from the purchase of 34 Airbus aircraft by Air Canada.

“I never received a cent from anyone for services rendered to anyone in connection with the purchase by Air Canada from Airbus of 34 aircraft,” Mulroney said, refuting Schreiber.

Mulroney also attacked Schreiber’s credibility, pointing out that the German could be extradited to his home country where he faces charges. “He succeeded. He got what he wanted … he’s sitting in his mansion over in Rockcliffe,” Mulroney said. “I think he seriously misled every member of this House … with this false affidavit.”

The committee’s investigation will resume in late January, when it is expected to call dozens of witnesses.

Friday, December 12, 2008

Top broker and Wall Street adviser Bernard L. Madoff, aged 70, was arrested and charged by the FBI on Thursday with a single count of securities fraud, also known as stock fraud and investment fraud. He allegedly told senior employees of his firm on Wednesday that his $50 billion business “is all just one big lie” and that it was “basically, a giant Ponzi scheme (since at least 2005).” Mr. Madoff faces up to 20 years imprisonment and a fine of up to $5 million. FBI agent Theodore Cacioppi said Mr. Madoff’s investment advisory business had “deceived investors by operating a securities business in which he traded and lost investor money, and then paid certain investors purported returns on investment with the principal received from other, different investors, which resulted in investors’ losses of approximately $50 billion dollars.”

The former chairman of the Nasdaq Stock Market is also the founder and primary owner of Bernard L. Madoff Investment Securities LLC, the closely-held market-making firm he launched in 1960. The firm is one of the top market maker firms on Wall Street. He founded his family firm with an initial investment of $5,000, after attending Hofstra University Law School. He saved the money earned from a job lifeguarding at Rockaway Beach in Queens and a part time job installing underground sprinkler systems.

A force in Wall Street trading for nearly 50 years, he has been active in the National Association of Securities Dealers (NASD), a self-regulatory organization for the U.S. securities industry. His firm was one of the five most active firms in the development of the NASDAQ, having been known for “paying for order flow,” in other word paying a broker to execute a customer’s order through Madoff. He argued that the payment to the broker did not alter the price that the customer received. He ran the investment advisory as a secretive business, however.

Dan Horwitz, counsel of Mr. Madoff, in an interview, said that “he is a longstanding leader in the financial-services industry with an unblemished record; he is a person of integrity; he intends to fight to get through this unfortunate event.” Mr. Madoff was released on his own recognizance on the same day of his arrest, after his 2 sons turned him in, and posting $10 million bail secured by his Manhattan apartment. Without entering any plea, the Court set the preliminary hearing for January 12.

Madoff’s hedge fund scheme may rank among the biggest fraud in history. When former energy trading giant Enron filed for bankruptcy in 2001, one of the largest at the time, it had $63.4 billion in assets. The scheme would dwarf past Ponzis, and it would further be nearly five times the telecommunication company WorldCom fraud and bankruptcy proceedings in 2002.

The Securities and Exchange Commission filed a separate civil suit on Thursday against Bernard L. Madoff Investment Securities and its eponymous founder Mr. Madoff. It was docketed as “U.S. v. Madoff,” 08-MAG-02735, by the U.S. District Court for the Southern District of New York (Manhattan). SEC, New York associate director of enforcement, Andrew M. Calamari, asked the judge to issue seizure orders on the firm and its assets, and appoint a receiver. The SEC pleads, among others, that “it was an ongoing $50 billion swindle; our complaint alleges a stunning fraud that appears to be of epic proportions.” It further accused the defendant of “paying returns to certain investors out of the principal received from other, different investors” for years. Madoff’s hedge fund business had previously claimed to have served between 11 and 25 clients and had $17.1 billion in assets under management. But virtually all of the assets were missing.

United States District Court for the Southern District of New York Louis L. Stanton on Thursday appointed Lee Richards, a Manhattan lawyer, as the firm’s receiver. A hearing is set for Friday, for a ruling on the SEC’s petition to grant plenary powers to the receiver over the entire firm, and an absolute asset sequestration.

Doug Kass, president of hedge fund Seabreeze Partners Management said that “this is a major blow to confidence that is already shattered — anyone on the fence will probably try to take their money out.”

Tuesday, November 27, 2012

Japanese multinational company Fujitsu launched a website for a dog pedometer which allows customers to monitor their dog’s health online. The device measures data while attached to the dog’s collar. Customers are also able to add more data to the website manually, then it displays the complete set of data graphically. Fujitsu launched the website today (Tuesday) and plans to start the sales in Japan tomorrow (Wednesday).

The pedometer is called “Wandant”, from Japanese “Wan” equivalent to “woof”, and the “dant” of “pendant”. The latter refers to the pedometer, because it is attached to a dog collar. The users can transfer data to an Android phone using a touch-card to make it available online.

Fujitsu said Wandant would be the first cloud-based dog health-care service.

The data include walking, temperature, and shaking motion statistics. The users can manually enter additional data such as food quantities, weight, custom notes, and photos.

Fujitsu said, “The data are presented graphically on a custom website that makes trends in the dog’s activities easy to understand at a glance. This helps owners get a stronger sense of their dog’s health, while enabling communication with the dog.”