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Disney buys Pixar

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Disney buys Pixar

Tuesday, January 24, 2006

The Walt Disney Company has finalized a US$7.4 billion deal to acquire its long-time partner Pixar in an all stock buy-out. The deal will make Steve Jobs, current Pixar and Apple CEO, Disney’s largest shareholder with about 7% (valued at over $3.5 billion) and a member of the board of directors.

The merger was speculated all day Tuesday on the stock market and the announcement came just after trading closed for the day. Terms of the merger include Pixar’s John Lasseter becoming Disney’s new chief creative officer in charge of animation at the combined Disney-Pixar Animation Studios, as well as principal creative advisor at Walt Disney Imagineering, the unit of the company responsible for research and development of Disney theme parks worldwide.

Jobs purchased what became Pixar for $10 million in 1986 from George Lucas’s computer animation division at Lucasfilm. Toy Story, its first feature film came a decade later, and began a long string of animation hits, including Finding Nemo. Such successes proved to be increasingly elusive for Disney to manage on its own. The partnership between the two studios had become shaky in recent years, as former Disney head Michael Eisner clashed with Jobs over the renewal terms of their agreement. In 2003, prior to his dismissal from Disney, Eisner infuriated Pixar’s creative team by predicting Finding Nemo would be a failure. Steve Jobs broke off negotiations in January 2004, having told one executive previously, “I don’t see how the relationship can continue as long as Eisner is there.”

CEO of GM outlines plan for “New GM” after auto company declared bankruptcy

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CEO of GM outlines plan for “New GM” after auto company declared bankruptcy

Thursday, June 4, 2009

In a New York press conference at 16:15 UTC, June 1st, Fritz Henderson, the Chief Executive Officer of General Motors, which filed for bankruptcy and Chapter 11 protection from its creditors earlier today, outlined a plan for what he called a “New GM”.

Speaking to the press under safe harbor provisions of U.S. law, Henderson described the events of today as a “defining moment” in the history of General Motors. Speaking to the public he said that “The GM that let you down is history,” and described a “New GM” that he expected to result from the bankruptcy process.

Henderson stated that he envisioned the bankruptcy process would take between 60 and 90 days. He stressed several times his view that the process would be one that is executed quickly, saying that not just a sense of urgency but “pure unadulterated speed” was his expectation of the process. He emphasized that “GM remains open for business” during the bankruptcy period, continuing to sell and to support its products, and that day one motions had been filed in the bankruptcy court in order to allow this.

Regarding the bankruptcy process he said, “We will do it right. And we will do it once.”

He stated that the plan for General Motors had the support of the United Auto Workers union, the Canadian Auto Workers union, the GM VEBA, and a majority of the unsecured bondholders of GM. He also mentioned that GM had already received €1.5 million in bridge financing from the German government.

In response to questions about the possibility of the United States federal government, a majority shareholder in the restructured company, dictating future product development and strategy, such as the sale of more fuel-efficient and green vehicles; he first observed that the federal government had already stated to him that it had “no real interest in running our business” and that he expected that still to be his job. Of the specific hypothetical scenario where the management of GM wants to make one type of car, because it thinks that it is the right thing for the business, and the U.S. government wants to make another type of car, he stated that “I don’t think it’s going to happen.” Expanding on that point he stated that he expected the “New GM” to focus upon “highly fuel-efficient and green technology”, and that operating both in accordance with U.S. environmental laws and in response to customer demand would naturally result in the New GM producing the types of vehicles that the U.S. government would encourage.

The “New GM” he also expected to focus on “four core brands”, and will size its dealership to match that. He stated that GM would offer a “deferred termination” package to dealers, to allow them to cease dealing in GM vehicles in a managed and gradual way.

He stated that the bankruptcy filings did not cover General Motors’ businesses in Latin America, Europe and the Middle East, and Asia and the Pacific. Of GM’s profitable ventures in China, specifically, he stated that they were “a critical part of the New GM”. In response to questions of whether the New GM would import cars from China to the U.S., he stated the formative company’s core principle that “We build where we sell” applied in both directions, with GM building in China to sell in China and building in the U.S. to sell in the U.S., stating that this shortened supply chains.

He declined to predict when the New GM would return to profitability, stating that the goal was rather to lower the break-even EBIT point for the company. He also declined to speculate upon when the U.S. government would sell its stake in the company, saying that that was a question “better addressed to the U.S. Treasury”, and merely saying that he expected it to be “years, not months” when the U.S. Treasury felt it would give “the right return for taxpayers.”

Scottish Midlothian car crash kills three

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Scottish Midlothian car crash kills three

Monday, December 24, 2012

Two cars have been involved in a road traffic accident in the Scottish Lothian and Borders region, causing three fatalities and sending three to hospital. The incident occurred on the A68 road approximately 1.5 miles south of the Midlothian village of Pathhead when a Škoda Octavia and a Nissan Note travelling in opposite directions collided at approximately 0730 UTC today.

The Nissan, which was carrying five occupants, overturned and came to rest on its roof. Three male Buddhist monks who sat in the back of the car died at the site of the crash. The female driver of the vehicle managed to get out of the vehicle herself but another male passenger in the front of the car had to be cut free by fire service members. The two front-seat passengers as well as the male driver of the Škoda were hospitalised at the Royal Infirmary of Edinburgh, although none of their injuries are considered likely to be fatal.

“This is a tragic incident,” Inspector Simon Bradshaw of Lothian and Borders Police said, “and we are currently in the process of carrying out inquiries in order to establish the full circumstances of the collision.” The A68 road close to the location of the accident was temporarily closed to allow police to investigate the incident, with traffic redirected to the B6370 road via the town of Gorebridge. The road has since reopened.

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Wikinews interviews former Republican U.S. Senator Bob Smith on his latest run for office

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Wikinews interviews former Republican U.S. Senator Bob Smith on his latest run for office

Sunday, June 21, 2009

Earlier this month, former Republican U.S. Senator Bob Smith announced his candidacy for Florida’s open Senate seat in the 2010 midterm election. Smith, who was one of New Hampshire’s senators for two terms — which amounts to twelve years — said he is running for office in his recently adopted home state due to his disapproval of the direction in which America is headed. He is very optimistic about the conservative change he can potentially bring to Congress which is currently controlled by liberal-minded members of the Democratic Party.

Smith has, however, some major hurdles to overcome in the Republican primary. He is facing two well known politicians who have been elected to statewide office numerous times. The chief of these is current Governor Charlie Crist, a moderate-to-liberal who is currently leading in the polls. The second is former Speaker of the Florida House Marco Rubio, a center-right 38-year-old who has been criticizing Crist for months on the support he has shown for President Barack Obama’s controversial economic stimulus package.

Despite trailing both in recent polls, Smith believes that the polls themselves are irrelevant as the primary is over one year away. He is devoting the remainder of this summer to building up grassroots and financial support for his campaign.

Wikinews reporter Joseph Ford had the opportunity to speak with him about his run this past weekend.

“We must deliver a message that appeals to all members of the Republican Party, and that will appeal to Floridians in the general election,” Smith proclaimed. “I am in this race because I want to make my experience as a U.S. Senator available to my fellow Floridians.”

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The Benefits Of Hiring Immigration Attorneys

byAlma Abell

The laws, as they apply to US immigration are extremely complex and constantly being amended and added to. Those involved in any US immigration issue cannot afford to make errors; therefore, hiring immigration attorneys in Chicago is the key to proper preparation, presentation and eventual granting of the immigration benefits being applied for.

Preparation and processing of documents:

[youtube]http://www.youtube.com/watch?v=0Yjjw0D9guY[/youtube]

The majority of documents issued by US immigration are lengthy and quite confusing, especially to those whose first language may not be English. However, regardless of how complex the submissions may be, they must be prepared and submitted properly. One of the primary benefits of hiring immigration attorneys in Chicago is the fact that they are intimate with the forms and have the expertise that is needed to prepare the petition so that you are submitting a strong case to the authorities.

When you have a seasoned immigration attorney you have someone that will work alongside you, guiding you on how to complete the documentation that is needed. There are what seems, endless requirements including questionnaires, declarations, checklists and more. Once you and your attorney have completed this documentation, your attorney will prepare a cover letter that includes information highlighting the importance of your profession and how you, through your achievements, are eligible for permanent residency.

Prepare you for your interview:

Although not every immigration procedures demand a personal interview, the majority of them do. To ensure that you are fully prepared, your immigration attorney will work with you, informing you of the steps that you should take to have a successful interview with the authorities.

There is far more than plowing through paperwork, your immigration attorneys in Chicago will explain the options that you have available. The attorney can explain how you may gain citizenship through marriage; the laws that must be adhered to once you get your green card, the costs associated with getting your green card and more.

US immigration is extremely complex and difficult; there is no doubt that skilled immigration attorneys in Chicago can make the process more understandable and easier. If you are looking for a Chicago law firm that focus us on immigration issues you are invited to contact Din Law at http://www.dinlaw.com. Follow us on our Google+ page.

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Ban Ki-Moon says Cyprus solution “possible”

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Ban Ki-Moon says Cyprus solution “possible”

Monday, February 1, 2010

A new set of talks are scheduled to attempt to reunite Cyprus, prompting UN Secretary General Ban Ki-Moon to say that a solution is “possible and within reach” when he arrived in the country yesterday for talks between Greek and Turkish-Cypriot leaders that will take place later today.

Progress have been slow for the peace talks, which started in September 2008, but the UN chief said that a deal would require “courage, flexibility and vision as well as a spirit of compromise”. “I am under no illusion that the Cyprus problem is easy to solve”, he told reporters after he arrived in Larnaca yesterday in preparation for the talks with Greek Cypriot leader Demetris Christofias and Turkish Cypriot Mehmet Ali Talat today.

Ban said that “solving the Cyprus problem will give inspiration to all those around the world trying to solve other seemingly intractable problems and I’m looking forward to having good meetings with the leaders”, with the Greek and Turkish Cypriot leaders saying that they are committed to finding a solution. Monday’s talks will involve Ban holding talks with the two leaders individually, before chairing a meeting between the pair. Any deal that emerges will be a subject of two simultaneous referendums, one for each side of the border. Both sides agree that “nothing is agreed until everything is agreed”.

Jonny Dymond, the BBC Europe correspondent, has expressed fears that time is running out on a solution. There are also worries that the fast approaching northern Cyprus leadership elections will mean that Talat is replaced by nationalist Dervis Eroglu, who is leading in opinion polls. If this were to happen, talks might be shelved.

Cyprus has been divided since 1974, after Turkish forces invaded after a coup led by Greece allegedly aimed to absorb it. Northern Cyprus is only recognised as a state by Turkey.

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Murder, rape of Albert Namatjira’s great-granddaughter makes belated news

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Murder, rape of Albert Namatjira’s great-granddaughter makes belated news

Monday, April 3, 2006

Sometime during the night of Friday, January 28, 15 year-old Jenissa Ryan was assaulted and raped in Alice Springs. She was discovered near the entrance of Centralian Senior Secondary College around 10:30 a.m., and a college employee called an ambulance. The attack was not reported in the mainstream national media until this week, when it became known that the victim was the great-granddaughter of famous indigenous artist Albert Namatjira.

In an article published in Saturdays Sydney Morning Herald, Russell Skelton said that the fact that she was an Aborigine, and the location of her bashing, contributed to her death. “If Jenissa had been white, she might be alive today, though the scars of her brutal bashing and rape could never be erased. If she had been bashed and left for dead almost anywhere else, assistance would have been immediate and the outrage strident.” He also said that if her connection to Namatjira had been known, Jenissa’s death would have been a “national scandal.”

Police believe that she was attacked by a number of youths her own age while walking home. She continued to walk home, but collapsed unconscious near the entrance to the college. Here, according to police, she was found by three teenage boys, who dragged her out of view and raped her.

Jenissa was still alive when found. Skelton considered it likely that people had seen her during the morning but done nothing. “That means a number of residents of middle-class Grevillea Drive probably noticed. The white T-shirt and striped tracksuit pants were hard to miss,” he said.

She was taken to Alice Springs Hospital, and then flown to Adelaide’s Women and Children’s Hospital.

On February 13 Northern Territory Police charged a 16 year-old male and a 15 year-old female with assaulting Jenissa Ryan. Three other males, aged 14, 15, and 16, have been charged with having unlawful sexual intercourse with Jenissa Ryan. Police expressed gratitude for the assistance they had received from members of the public.

Father Asaeli Raass said that both indigenous and non-indigenous people were in denial about the incident. “Yes, it’s a painful thing, but people are sweeping it under the carpet when they should be confronting the big issues Jenissa’s death raises,” he said. He also said that the initial wave of publicity “never travelled outside Alice Springs.”

Jenissa’s mother, Carmel Ryan, said that her daughter wanted to be a painter, like her great-grandfather. “She wanted to be like him, to make a creative contribution we would all be proud of. Tragically that can never be, but I feel nothing but sorrow for the parents of the children involved in this terrible event,” she said.

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Category:January 11, 2008

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GM and Chrysler receive Canadian loans amid US restructuring ultimata

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GM and Chrysler receive Canadian loans amid US restructuring ultimata

Friday, April 3, 2009

General Motors (GM) and Chrysler will receive bridge loans from the government of Canada and the provincial government of Ontario, however no more will be forthcoming from either Canadian or US governments unless the companies can reinvent themselves.

“This is a regrettable but necessary step to protect the Canadian economy. We are doing this on the assumption that we obviously cannot afford either in the United States or Canada a catastrophic short-term collapse.” said Stephen Harper, Prime Minister of Canada.

“We cannot, we must not, and we will not let our auto industry simply vanish. This industry is, like no other, an emblem of the American spirit; a once and future symbol of America’s success,” said Barack Obama, President of the United States. “These companies – and this industry – must ultimately stand on their own, not as wards of the state.”File:Sinsheim quer.jpg

Chrysler will receive CA$1 billion and may in fact be eligible for as much as CA$4 billion. If Chrysler succeeds in the next 30 days with a restructuring plan it would be eligible for a US$6 billion loan. A part of Chrysler’s restructuring plan must include a partnership with Fiat within 30 days to appease the US administration. Fiat is a supplier of smaller fuel-efficient vehicles, and the merger will help Chrysler to be viable in the North American market. A Chrysler court bankruptcy would inevitably lead to it being sold off.

As a part of Chrysler’s restructuring plans, Tom LaSorda, the president of Chrysler announced that Canadian operations would fold if it does not receive both the US commitment of $2.3 billion of aid and a new Canadian Auto Workers CAW contract to reduce all-in costs by CA$19 per hour. As a result of this announcement Chrysler’s auto sales volume in Canada dropped 23% compared to March of 2008.

GM has until the end of May to restructure its company to receive up to CA$7.5 billion. As part of the companies restructuring, General Motor’s chief executive Rick Wagoner was replaced Sunday with Fritz Henderson, the current chief operating officer. Henderson spoke out on Tuesday that GM has submitted a restructuring plan which would close five plants, and this may be increased to meet the requirements for financial aid. He is in full compliance with Obama’s auto task force to seek bankruptcy if GM cannot negotiate with their unions, bondholders and others.

GM recently brought forward the “GM Total Confidence” program providing consumer purchase protection for customers who lose their job for economic reasons within the first two years from purchase. As a result of Chrysler’s restructuring announcement in Canada, GM’s Canadian vehicle sales volume fell only 17.3% compared to 2008, an increase from the previous month.

GM must reduce some of its legacy costs which include its pensions and union health care costs. A part of GM’s ailments arose from investing in supplying truck and SUVs during an economy of high gas prices when consumers were demanding fuel efficient vehicles.

Tony Clement, Canada’s Minister of Industry, is hoping that the CAW will support the restructuring process and re-negotiate their agreement. Whereas a United Auto Workers negotiator has said, “I don’t see how the UAW will do anything until they see what the bondholders will give up.”

The Obama administration is looking toward bankruptcy proceedings for the automakers, “as a mechanism to help them restructure quickly and emerge stronger. [It will] quickly clear away old debts that are weighing them down. What we are asking is difficult. It will require hard choices by companies. It will require unions and workers who have already made painful concessions to make even more. It will require creditors to recognise that they cannot hold out for the prospect of endless government bailouts.” said Obama.

The auto parts suppliers and IT software exporters in India have already been affected by the declining auto sales. GM and Chrysler software contracts provide US$300 to 350 million a year to vendors in India. As well these two major automakers usually award US$1 billion contracts to auto parts suppliers. “We are worried and closely watching the developments in the US to gauge the impact. The decline in auto sales in the US has already hit the order books of Indian suppliers,” said a Delhi auto parts supplier.

“Going forward, the industry will undoubtedly be smaller, but if our efforts are successful it will be viable and it will support good jobs for Canadians,” said Clements.

Betty Sutton, Ohio’s Congresswoman put forward the CARS act which provides a US$3,000 to 5,000 incentive for those who trade in their vehicle for a fuel-efficient car. “It clearly stimulates the economy, and it gets the consumer into the showroom and gets them buying again. But importantly — and this is what I particularly like about it — it really helps the environment quite a bit in two respects.” said William Clay Ford Jr., executive chairman of Ford Motor Co.

Ford Motor Company has not come forward with requests for assistance.

Since December GM and Chrysler have received US$17.4 billion government loans.

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Controversial medical center demolished in Buffalo, New York

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Controversial medical center demolished in Buffalo, New York

Saturday, May 26, 2007

A medical center, once the site of intense controversy over abortion in the 1990s, which has been vacant for nearly 10 years, was imploded in Buffalo, New York at 6:00 a.m. [eastern time] today.

Several streets in about a 2 block radius were shut down until the implosion occurred and the dust settled. At least 200 people watched in nearby parking lots and on rooftops of buildings to get a good look at the implosion.

The ground and the walls of buildings shook as the dynamite detonated and a brief shock wave could be felt as far as 1 1/2 blocks away. Witnesses even reported small pieces of bricks and concrete falling out of some buildings, but no one was injured.

The building, owned by Kaleida Health, once housed several medical offices, including an abortion clinic. Hundreds of people protested about the abortions outside the center during the Spring of Life Movement in 1992, but other medical procedures and treatments were also part of the center’s services. It was built in 1965 and was 14 floors tall.

Kaleida Health had the building imploded so that the current Buffalo Niagara Medical Campus can be expanded. Several other major medical facilities are also in the same area including Roswell Cancer Institute and Buffalo General Hospital.

“This implosion of 50 High Street will continue the explosion of growth on the Buffalo Niagara Medical Campus. This event will ensure future opportunity for investment, development and growth,” said the CEO and President of Kaleida Health in a statement on Thursday.

==Sources==

This article features first-hand journalism by Wikinews members. See the collaboration page for more details.
This article features first-hand journalism by Wikinews members. See the collaboration page for more details.

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