US Senate passes new bankruptcy bill

Saturday, March 12, 2005

In a vote of 74-25 last Thursday, the US Senate passed a measure that would change bankruptcy laws, making it harder for individuals seeking relief from their debt burden to avoid repayment. Almost twenty Democrats joined Republicans, who currently hold a majority of the seats in the US Senate, in passing the bill.

Lobbyists for credit card companies and financial services firms have worked for the bill during the last two administrations. A similar measure passed both the Senate and House during the previous administration, but then President Bill Clinton pocket-vetoed the measure in 2000.

Democrats sought to soften the bill by allowing bankruptcy filers to negotiate directly with lenders for relief, but the amendments were defeated by the Republican-controlled Senate. Proponents of the bill claim the rise of bankruptcy filings to nearly 1.5 million a year shows that abusers of credit use the filings to shield themselves from irresponsible practices.

“There has been an explosion of bankruptcy,” said Iowa Republican Sen. Charles E. Grassley, the bill’s sponsor. “We preserve the principle of a fresh start, but we also establish a principle that if you have the ability to repay some of your debt, you are not going to get off scot-free.” However, Massachusetts Democratic Sen., Edward M. Kennedy said, “This legislation makes the bankruptcy courts of the United States the collection agency for the credit-card industry.”

The bill impacts a broad spectrum of bankruptcy law, but the most significant impact is on personal bankruptcy filings. Individuals who get behind in repaying credit card debt face high interest charges and stiff late payment fees. By only meeting minimum payment requirements, borrowers remit to the lender over the life of the loan an amount in interest and other fees that can far exceed the value of the principal balance of the loan. This can put consumers who run up high balances on various cards at financial risk of default. Critics of the bill blame these aggressive lending practices as a contributing factor in the rising trend of bankruptcy filings from 1996.

The proposed bill doesn’t only affect debtors with credit card debt.

It also affects debtors who have run up large medical bills.

Patients with a past medical history that disqualifies them from full medical coverage, can easily find themselves facing insurmountable medical bills after just a short stay in the hospital. These individuals will no longer be able to get a fresh start after these personal disasters, and will be forced to live in poverty until they can pay off their medical bills as part of their Chapter 13 filing. (Prior to this bill, they would have been able to file Chapter 7, completely discharging their debt.)

Chapter 7, which accounts for 70% of bankruptcy filings, allows individuals to eliminate most non-secured debts after liquidating assets, with the notable exemption of one’s principle residence in most states. The Senate passed bill would change Chapter 7 eligibility by applying a means-test, where those with a median income higher than the state average would be required to file under Chapter 13 provisions. Under Chapter 13 protection, an individual’s debt is not forgiven; rather it is restructured for payment under more lenient terms.

This was the first major overhaul of federal bankruptcy law in many years.

Under the old bankruptcy law, a personal bankruptcy attorney could not be held financially responsible for his clients mendacity. Under the new bankruptcy law, the bankruptcy attorney is responsible for his client’s lies to the Court about his assets and the bankruptcy attorney and his insurance carrier can be held responsible by the Bankruptcy Court.

The result is that personal bankruptcy attorneys (this does not apply to corporate bankruptcy attorneys) are likely to flee the personal bankruptcy field when the new law takes effect. Their insurance companies will not offer the sort of coverage that they would need to continue to practice.

So when consumers need to file personal bankruptcy under the new law, they will be unlikely to find a bankruptcy attorney to represent them. Consumers will have to file pro se: such consumers will be likely to fail due to the complexity of the law.

The bottom line is that the field of personal bankruptcy law as a practice area of law will cease to exist when the new bankruptcy law takes effect, and consumers will be unable to secure legal counsel and so consumers will lose what legal protections counsel now affords them.

Under the new bankruptcy law about one half million Americans will be forest to pay for at lest 5 years on longer they will be held in servitude as chattel they will be completely subservient to a dominating influence of the company that holds the loan. Their loan will be put on the market for sale for profit. The people will be forced to work harder. People who fail to go to court will have a arrest warrant made out in their name and people who refuseto pay. They will be subject to fines and or jail. About fifty thousand Americans will punished by a fine and or about three thousand Americans every year will go to jail under the new bankruptcy law. For some people this will be a third strike they will be put in jail for life.

The bill has the support of President Bush, and its passage in the House sometime next month seems likely. If enacted into law, lending companies will recover more money on what otherwise would be written off as bad loans. Those persons of median and higher income seeking relief would be required to file under Chapter 13 status and pay up to $100 per month under court imposed conditions. It is expected the proposed changes would cause a sharp increase in filings before the new law could take effect.

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Ontario Votes 2007: Interview with Green Party candidate Gordon Kubanek, Nepean Carleton

Tuesday, October 9, 2007

Gordon Kubanek is running for the Green Party of Ontario in the Ontario provincial election, in the Nepean-Carleton riding. Wikinews’ Nick Moreau interviewed him regarding his values, his experience, and his campaign.

Stay tuned for further interviews; every candidate from every party is eligible, and will be contacted. Expect interviews from Liberals, Progressive Conservatives, New Democratic Party members, Ontario Greens, as well as members from the Family Coalition, Freedom, Communist, Libertarian, and Confederation of Regions parties, as well as independents.

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Itch Eresting Facts About Head Lice

Submitted by: Jeff Foster

Head lice; defined as common insect infestation of the human head hair. Most likely, you remember when you were young and had your own little encounter with this little pesky insect.

Head lice lay eggs in the human scalp and can only survive on human hair. Of course, despite contrary belief, it doesn t even matter if your hair is silky clean or greasy dirty everyone is susceptible to head lice.

The reason why it doesn t matter the status of your hair is because each little lice has long front legs which grip into your scalp. Neither shampoo, water, nor hardly anything else can shake it of its home.

The head lice has adapted over millions of year to suit the environment of the human head. Even back in the times of mummies in Ancient Egypt, they showed evidence of retaining head lice.

They can not survive anywhere else besides your head and so if they do happen to fall out, the lice surely die within 48 hours.

[youtube]http://www.youtube.com/watch?v=qvwedox8wv8[/youtube]

Head lice can lay over two hundred eggs in their lifetime, easy enough to begin an entire colony on your head.

This head lice is frequently found in children, ages 4 11, especially if they attend after school programs. Kids can easily contract head lice and share it with their peers, because really; kids what don t they share?

So the first thing that you might hear is a complaint of my head itches or you might notice your child consistently scratching their head.

Once your children have a lice infestation it is very common and rather easy for them to pass it on to you and other family and friends.

If they do happen to pass these little critters on to you don t worry. Head lice, although annoying, are not dangerous or carry disease. They only are an irritant and create irritation and give your scalp rashes.

Another inaccurate head lice myth is that they can fly. Can head lice fly? No, head lice do not have wings and therefore do not fly around from head to head. Lice may only change hosts through human contact; a hair brush, clothes where hair has been left, etc.

Dead or empty louse eggs are called nits. Even when most of the living lice have been destroyed from the scalp, the nits may still remain. Generally in school districts today, any child with nits are not allowed to attend schooling until they are nit-free.

Lice live for so long in the human hair by feeding off human blood. To do this they must penetrate the scalp and you d never even know it. In fact, nearly 5% of the United States population contracts head lice each year.

Do the math on that one; that s nearly 12 million people! Head lice may be small but they sure are getting attention all around the world.

About the Author: For more important information on getting rid of

head lice

be sure to visit www.rid-headlice.com where you will find advice and tips on

head lice treatment

and removing those annoying critters.

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Dozens killed after car bomb explodes in market in Peshawar, Pakistan

Wednesday, October 28, 2009

Pakistani officials have said that at least 100 people were killed and over 200 injured after a car bomb exploded in a marketplace in the city of Peshawar on Wednesday. The attack was the deadliest in the country in this year.

Initially, large fires were reported to be burning around the marketplace, which was crowded with people. The flames spread easily because there were many stores in the area selling flammable fabrics. Police said the blast was heard throughout most of the city, and the explosion reportedly left a hole in the ground up to ten feet wide.

The Associated Press reported that many of the victims are women.

“There was a huge blast. There was smoke and dust everywhere. I saw people dying and screaming on the road,” said an eyewitness, Mohammad Siddique, to the Agence France-Presse news agency.

Several buildings collapsed as a result of the detonation, and rescue workers searched through the rubble looking for survivors beneath the debris.

Muzamil Hussain, a member of local medical staff, described his experiences to the Associated Press: “There were a lot of wounded people. We tried to help them but there were no ambulances so we took the victims on rickshaws and other vehicles. There were no police. The police and government didn’t help us, the police even opened fire on us.”

“Bodies are scattered and badly burned because of the fire caused by the explosion. The explosion took place in a very crowded market,” Mohammed Naeem, a spokesman for a local ambulance service, said.

Some people expressed anger that the bombings managed to be carried out in broad daylight in a crowded area. “What kind of security alert is this? It was an explosives-packed car. Look at the mosque, it ceases to exist anymore. For God’s sake, do something,” said a local middle-aged shopkeeper, as quoted by the CNN news agency.

A state of emergency at the Lady Reading Hospital in Peshawar, where many of the wounded people were hospitalised, was called soon after the explosion. Hospital officials appealed to the public and to other medical centres for blood donations.

The bomb attack happened just hours after Hillary Clinton, the United States Secretary of State, flew to the nation to discuss peace with Pakistan’s military commanders and political figures. Clinton will be in Islamabad for three days.

Clinton condemned the attack. “These attacks on innocent people are cowardly. They are not courageous. If the people behind these attacks were so sure of their beliefs, let them join the political process,” she said.

The bombing also comes just days after Pakistani military forces captured the town of Kotkai, the hometown of Taliban Chief Hakimullah Mehsud, and one of his top officers, Qari Hussain.

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Amazon.com to acquire Whole Foods at US$42 per share

Saturday, June 17, 2017

Yesterday, e-commerce giant Amazon.com announced they are to acquire Texas based retail grocery store chain Whole Foods Market at US$42 per share. According to the deal worth US$13.7 billion (£10.7 billion) the retail grocery store chain is to keep the Whole Foods Market brand name and John Mackey is reportedly to remain its CEO.

After the announcement, Amazon’s shares went up more than two percent and Whole Foods Market shares went up by about 28%. Shares of other grocery-selling chains like Kroger, Target, Sprouts Farmers and Costco experienced a dip after the announcement.

Amazon runs their own online grocery — Amazon Fresh — which started a decade ago in Seattle, Washington. Amazon’s? CEO Jeff Bezos said, “Millions of people love Whole Foods Market because they offer the best natural and organic foods, and they make it fun to eat healthy.”

Whole Foods Market started in 1978, and employs about 87000 people in its roughly 460 stores across the US, UK and Canada. The deal is expected to cover debts of Whole Foods Market.

Whole Foods Market CEO Mackey said, “This partnership presents an opportunity to maximize value for Whole Foods Market’s shareholders, while at the same time extending our mission and bringing the highest quality, experience, convenience and innovation to our customers.”

The acquisition, which has not yet received approval from the shareholders of Whole Foods Market, adds a 27% premium to Thursday’s closing value of its stock. This would be Amazon’s largest acquisition if the deal is done.

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Cocktail Dress And Its Versatility

Cocktail Dress and Its Versatility

by

Colleen S.Lee

Almost every woman loves dresses and likes to put on fancy dress in parties to drive attention. Ever since, wearing these kinds of outfits had been a fashion for ladies. They dress well in special events to increase their charm. This fancy dress for parties is referred to as the cocktail dress. It is comfortable and made with an attitude. Also, it offers fancy and pleasurable feelings to the person wearing the dress that drives people to glance at them. Cocktail dresses are normally used in dinner parties, wedding events, formal evening occasions, fancy parties, award and social nights, prom nights and other occasions. Because of its versatility it can be suited for any figures of women.

[youtube]http://www.youtube.com/watch?v=Ei6JvK0W60I[/youtube]

Sizes for cocktail fashion depends on the continuing trend in your locality. Customization of these dresses adds glamour and exquisiteness to the user. The length may range from ankle level to knee level, usually slightly shorter compared to the full length gowns and lengthy than the mini skirt. Christian Dior a known designer termed this kind of dress as a cocktail dress. Western females become well known using this kind of dress matched with cardigans or fitted jackets. Cocktail gowns enhance the elegance in women. It provides attractive, fashionable, modern and fancy looks to them. A distinct feeling and freeness in cocktail gowns enhances the mood of the party. Cocktail Dress Kinds and Designs There are lots of available cocktail dresses present within the market these days, which ranges in: — Thigh high — Spicy and short skirt — Jeweled cocktail — Strapless cocktails — Chiffon cocktails — Wool blended cocktails — Halter cocktails These are the kind of dresses staples in many women dress in wardrobes. The materials used in the design are silky and smooth which gives a romantic effect. Many of the cocktail dresses provide a sexy appeal in several women. In choosing for the right dress, you need to look not for those luxurious fabrics yet with beautiful cuts, sleek one and may add ideal elegance in the dress. Even though you have a plus size body, it does not mean that you cannot wear cocktail dress. There are cocktails suitable for you and suitable for any figures. Seasonal cocktails become attractions nowadays. For some summer cocktail events and parties, clothing with bright colors such as green, pastels and floral patterns are perfect. And for winter events, like get together and planned dates, you can opt for navy or crimson blue and muted tones such as brown as the top choice. Different cocktail outfit in your closet shows the conscious and keen attitude of dressing. Beauty and comfort are the best things to consider when you are to choose a dress. Also, it would be excellent to match the kind of dress in the occasion you plan to go with. However, when cocktail dress is the subject, it is versatile and can match any events in your life. In fact, you can wear this kind of dress anywhere and anytime, may it be from simple lunch or dinner event, office suit, ball, or other special events.

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Commonwealth Bank of Australia CEO apologies for financial planning scandal

Thursday, July 3, 2014

Ian Narev, the CEO of the Commonwealth Bank of Australia, this morning “unreservedly” apologised to clients who lost money in a scandal involving the bank’s financial planning services arm.

Last week, a Senate enquiry found financial advisers from the Commonwealth Bank had made high-risk investments of clients’ money without the clients’ permission, resulting in hundreds of millions of dollars lost. The Senate enquiry called for a Royal Commission into the bank, and the Australian Securities and Investments Commission (ASIC).

Mr Narev stated the bank’s performance in providing financial advice was “unacceptable”, and the bank was launching a scheme to compensate clients who lost money due to the planners’ actions.

In a statement Mr Narev said, “Poor advice provided by some of our advisers between 2003 and 2012 caused financial loss and distress and I am truly sorry for that. […] There have been changes in management, structure and culture. We have also invested in new systems, implemented new processes, enhanced adviser supervision and improved training.”

An investigation by Fairfax Media instigated the Senate inquiry into the Commonwealth Bank’s financial planning division and ASIC.

Whistleblower Jeff Morris, who reported the misconduct of the bank to ASIC six years ago, said in an article for The Sydney Morning Herald that neither the bank nor ASIC should be in control of the compensation program.

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American Museum of Natural History removes statue of Theodore Roosevelt

Friday, January 21, 2022

The American Museum of Natural History in New York City removed a statue of the 26th President of the United States, Theodore Roosevelt, on Thursday following over a year of controversy. The statue, officially the “Equestrian Statue of Theodore Roosevelt,” depicts Roosevelt riding a horse flanked by a Native American and an African American at either side on foot.

The statue had stood at the steps of the museum since 1940 as a tribute to the former president who the museum notes “as a devoted naturalist and author of works on natural history”.

The museum requested the statue be removed in June 2020 following global protests over the killing of George Floyd in Minneapolis. The museum said: “the statue itself communicates a racial hierarchy that the Museum and members of the public have long found disturbing.”

The request for removal was supported by former New York Mayor Bill de Blasio, Roosevelt’s great-grandson Theodore Roosevelt IV and the New York City Public Design Commission (NYCPDC). The NYCPDC resolved to remove and temporarily store the statue.

The New York Young Republican Club has defended the statue. Club leader Gavin Wax told Fox News in 2020: “this was about a cultural revolution engulfing our nation. We need to stand up, we have history on our side.” In November, it was announced that the statue would be moved to the Theodore Roosevelt Presidential Library in Medora, North Dakota.

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Emergency at JDS Uniphase in San Jose, CA

Friday, March 3, 2006

The San Jose, California fire department and Hazardous Materials crews today responded to a chemical emergency at a JDS Uniphase manufacturing facility. The incident, at 80 Rose Orchard Drive, off North First St., sent between 15 and 17 people, including two firefighters, to the hospital with symptoms and for observation.

Those exposed to the hazard reported a smell of “burnt rubber”, along with symptoms of eye and throat irritation.

Over 48 others were held in a nearby building while the incident was assessed. Rose Orchard Way was closed for much of the day while emergency crews responded. Estimates put the incident at about 10 a.m. (1800 UTC).

As of 6 p.m. television news reports, authorities still had not determined the source or nature of the chemical, but said neighboring buildings were not in danger.

JDS Uniphase manufactures fiber optic communications and test equipment, and was formed from a merger of JDS FITEL and Uniphase Corporation in 1999.

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Drawbacks Of Gambling

Gambling: Gambling is no doubt a very common social evil practiced in todays era. Let us understand initially what does gambling refer to? The literal meaning of gambling is exposing to risk money or valuable items in the hope of gaining more than what is already staked for the same. In other words, gambling is the act of investing more to gain more. Moreover, to have a wide knowledge of the same, lets consider some prominent forms of gambling which are illustrated as follows:-

Kinds of Gambling:

1.Legalized Gambling2.Illegalized Gambling3.Online Gambling4.Sports Gambling

Now to have a better understanding of every single form of gambling, we need to have a look on the context of every single form.

1.Legalized Gambling: Legalized gambling is the kind of gambling which is considered lawful to an extent. 2.Illegalized Gambling: Illegalized gambling refers to the act of betting illegally. It often happens that a combination of individuals utilize the free promotion of state lotteries to gamble. 3.Online Gambling: The process of online gambling includes the usage of a shared electronic interface wherein two or more persons dont need to meet and the specified game can be played and is displayed on the users computer screen while he is playing. Online casino websites have mushroomed in hordes over the last few years. 4.Sports Gambling: The following are the sub headers of sports gambling :LottoTabHousieRaffles andCasino Unfavorable Consequences of Gambling: There are innumerous shortcomings of gambling. People unscrupulously involve in gambling in the greed of making more and more money as there is no labor associated with it and this is the shortest key for making more money by risking less of it. It is a bad social practice which ruins the family as a whole as the family members may start hating the person who is gambling in the family due to his negligence and this core problem can give rise to the destruction of the whole family which could shatter their lives, their aspirations, dreams and almost everything. A problem gambler has nothing to do with worldly affairs and is not even concerned for the family members. He ends up failing to realize that he himself is inviting disaster on his own as one can win several times but not always and the same will not help him to earn a living as well.

The addiction of gambling is so enormous that once accustomed to it, all the savings become negligible as the person is not always winning in the same. People start becoming bankrupt and the rich becomes poor day by day. In fact, the money saved up for important future necessities and calamities, people end up emptying out the same for his simple concern of more monetary gains. As a matter of fact, the person heavily involved in gambling finds himself ending up with huge debts messed up.

It even hampers ones academic growth and career which shatters your life completely. Students who are addicted to gambling are so much concerned and worried for the same that they start playing with their careers and lives knowingly or unknowingly. They bunk classes, whenever they sit to study, their mind gets diverted, thus leading to giving up studies and getting inclined towards the addiction of gambling and taking it up as a profession due to which there is a decline in the performance graph. But if there is a failure by chance in the profession that is of gambling which is opted by todays youth then he is left with no other alternative than to repent on his own decision for wasting up his entire career, money and last but not the least, precious time which could be utilized in more creative and productive works. It wont be impossible but yes he would have to invested a lot time, labor and much more to make his career a success as he has already wasted a lot of these.

Gambling also leads to mental and physical ailments. The people, who have already wasted much of their savings and wealth in gambling, end up developing sleeping and eating disorders due to several worries of paying off debts and the loan sharks chasing them for their money they find themselves helpless in developing themselves due to lack of proper diet and slumber. Students end up giving up their studies, thus ruining their career and the same are even compelled to commit suicide due to inability to pay off debts.

People develop illnesses like hypertension, high blood pressure, dejection, despair and they always stay in a pensive mood, brooding over the insult to their dignity and prestige and repenting for it for the rest of their lives which lead to family destruction as well. Persons become addicted to alcohol and unnecessary intoxications which ruin their families, their own lives and the lives of their family members as well. The basic problem associated with gambling is that it is a situation wherein a person cant help betting more and more money hoping to win more than what is risked. In his hope and urge to win more and more, the person fails to realize that he will have to gamble at the cost of all his possessions whether living or non-living. It also declines ones morale due to which he is more concerned for the importance of wealth. It is rather an unjust mean to earn money for here luck works wonders and also finishes you off. People commit theft and robbery for paying off debts and are more inclined towards alleged doings. Gambling pollutes moral values like discipline, hard work, truth, faith in God and demoralizes our ethics. It demotivates a person from doing labor and enjoying its sweet fruit as these days gambling has become a short and sweet mode of earning a living easily provided to make fortune for you. It enhances evils like greediness and selfishness. The gambler thinks only about him and of making more wealth and does not care for general welfare. It is an open invitation to corruption in the society. Hence, the process of eliminating the same should be at work at a greater speed.