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byAlma Abell
Minnesota dental patients who are displeased with the appearance of their smiles can acquire treatments to remedy this problem. These treatments can eradicate ugly stains found on their tooth enamel caused for staining foods and beverages. If you wish to explore the possibilities with Teeth Whitening Chaska today, you should contact a dentist to schedule an appointment.
The Benefits of Whitening Treatments
According to statistics released by the American Dental Association, ninety-nine percent of adults feel that an individual’s smile is among the most critical asset needed in society. Of the individuals surveyed believe that a whiter smile makes you more attractive and a more viable asset in the business world. When asked, these individuals said they would be happier in their lives if they had a whiter, healthier smile.
What Causes Tooth Discoloration
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Medication
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Smoking
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Thursday, June 5, 2008
On June 3rd, 2008, two United States Internet service providers (ISPs) announced they would begin tests to slow web access for their most active customers and charge them for extra speed. Comcast and Time Warner Cable, two of the largest ISPs in North America, both made separate announcements of their plans. The actions come in the wake of an investigation by the Federal Communications Commission (FCC), over whether Comcast had restricted some customers from sharing videos, music, and similar files. The FCC investigation led to a US Congress debate over whether and how much control ISPs should have over the flow of customer data.
Public interest groups complained in November 2007 to the FCC that Comcast had specifically targeted customers using applications that made use of the BitTorrent system, a popular form of file sharing. Free Press, an advocacy group that pushes for better oversight of cable operators such as Comcast, stated that Comcast practices were discriminatory towards users of the legal technology. “The cable companies see a hammer hovering above their heads and are scrambling to find ways to reduce the appearance of wrongdoing,” said Ben Scott, head of the group.
According to Roger Entner, a senior vice president from Nielsen IAG, as little as 5 percent of all Internet users may consume as much as 50 percent of all the bandwidth on the Internet. “This is the politically correct version of doing what Comcast had been doing before, though it takes the occasional [peer-to-peer] user off the hook,” Entner said. Sena Fitzmaurice, a Comcast spokesperson, said, “This says we won’t be looking at what type of traffic that there is, even though we still need to manage the network.”
Comcast’s tests are expected to begin in Chambersburg, Pennsylvania and Warrenton, Virginia.
While Comcast will attempt to throttle the speed of all its high-volume users, Time Warner Cable intends to use a different method. They will meter and bill clients, charging more money for faster speeds and larger amounts of transmitted data, functioning more like a traditional public utility, such as an electric company or cell phone service. Their metered billing test will begin on June 5 in Beaumont, Texas for newly enrolled customers. “Instead of raising prices across the board, consumers who are excessive users would pay,” said Alex Dudley, a Time Warner Cable spokesman. “It is clearly the fairest way to fund the investment that is going to be required to support that use.”
An Associated Press report that Time Warner Cable will bill customers between $29.95 to $54.90USD per month has been confirmed by the cable operator, with clients charged an extra $1 for each gigabyte (GB) by which they exceed their purchased plan. Art Brodsky, communications director of Public Knowledge, a consumer advocacy group in Washington D.C., has expressed concerns about the Time Warner Cable plan. Time Warner Cable’s most expensive offering, $54.90, comes with 15 megabits-per-second of data transfer speed and a 40 gigabyte limit on total data transfer.
“An HD (high-definition) movie is 8GB or so, three movies is more than half your allowance for a month, and heaven knows what else you might want to watch,” Brodsky says. “This is not a relieving congestion scheme as much as it is a rationing scheme. All it does is protect an inadequate infrastructure from the cable company.”
Thursday, December 18, 2008
A team of eight transplant surgeons in Cleveland Clinic in Ohio, USA, led by reconstructive surgeon Dr. Maria Siemionow, age 58, have successfully performed the first almost total face transplant in the US, and the fourth globally, on a woman so horribly disfigured due to trauma, that cost her an eye. Two weeks ago Dr. Siemionow, in a 23-hour marathon surgery, replaced 80 percent of her face, by transplanting or grafting bone, nerve, blood vessels, muscles and skin harvested from a female donor’s cadaver.
The Clinic surgeons, in Wednesday’s news conference, described the details of the transplant but upon request, the team did not publish her name, age and cause of injury nor the donor’s identity. The patient’s family desired the reason for her transplant to remain confidential. The Los Angeles Times reported that the patient “had no upper jaw, nose, cheeks or lower eyelids and was unable to eat, talk, smile, smell or breathe on her own.” The clinic’s dermatology and plastic surgery chair, Francis Papay, described the nine hours phase of the procedure: “We transferred the skin, all the facial muscles in the upper face and mid-face, the upper lip, all of the nose, most of the sinuses around the nose, the upper jaw including the teeth, the facial nerve.” Thereafter, another team spent three hours sewing the woman’s blood vessels to that of the donor’s face to restore blood circulation, making the graft a success.
The New York Times reported that “three partial face transplants have been performed since 2005, two in France and one in China, all using facial tissue from a dead donor with permission from their families.” “Only the forehead, upper eyelids, lower lip, lower teeth and jaw are hers, the rest of her face comes from a cadaver; she could not eat on her own or breathe without a hole in her windpipe. About 77 square inches of tissue were transplanted from the donor,” it further described the details of the medical marvel. The patient, however, must take lifetime immunosuppressive drugs, also called antirejection drugs, which do not guarantee success. The transplant team said that in case of failure, it would replace the part with a skin graft taken from her own body.
Dr. Bohdan Pomahac, a Brigham and Women’s Hospital surgeon praised the recent medical development. “There are patients who can benefit tremendously from this. It’s great that it happened,” he said.
Leading bioethicist Arthur Caplan of the University of Pennsylvania withheld judgment on the Cleveland transplant amid grave concerns on the post-operation results. “The biggest ethical problem is dealing with failure — if your face rejects. It would be a living hell. If your face is falling off and you can’t eat and you can’t breathe and you’re suffering in a terrible manner that can’t be reversed, you need to put on the table assistance in dying. There are patients who can benefit tremendously from this. It’s great that it happened,” he said.
Dr Alex Clarke, of the Royal Free Hospital had praised the Clinic for its contribution to medicine. “It is a real step forward for people who have severe disfigurement and this operation has been done by a team who have really prepared and worked towards this for a number of years. These transplants have proven that the technical difficulties can be overcome and psychologically the patients are doing well. They have all have reacted positively and have begun to do things they were not able to before. All the things people thought were barriers to this kind of operations have been overcome,” she said.
The first partial face transplant surgery on a living human was performed on Isabelle Dinoire on November 27 2005, when she was 38, by Professor Bernard Devauchelle, assisted by Professor Jean-Michel Dubernard in Amiens, France. Her Labrador dog mauled her in May 2005. A triangle of face tissue including the nose and mouth was taken from a brain-dead female donor and grafted onto the patient. Scientists elsewhere have performed scalp and ear transplants. However, the claim is the first for a mouth and nose transplant. Experts say the mouth and nose are the most difficult parts of the face to transplant.
In 2004, the same Cleveland Clinic, became the first institution to approve this surgery and test it on cadavers. In October 2006, surgeon Peter Butler at London‘s Royal Free Hospital in the UK was given permission by the NHS ethics board to carry out a full face transplant. His team will select four adult patients (children cannot be selected due to concerns over consent), with operations being carried out at six month intervals. In March 2008, the treatment of 30-year-old neurofibromatosis victim Pascal Coler of France ended after having received what his doctors call the worlds first successful full face transplant.
Ethical concerns, psychological impact, problems relating to immunosuppression and consequences of technical failure have prevented teams from performing face transplant operations in the past, even though it has been technically possible to carry out such procedures for years.
Mr Iain Hutchison, of Barts and the London Hospital, warned of several problems with face transplants, such as blood vessels in the donated tissue clotting and immunosuppressants failing or increasing the patient’s risk of cancer. He also pointed out ethical issues with the fact that the procedure requires a “beating heart donor”. The transplant is carried out while the donor is brain dead, but still alive by use of a ventilator.
According to Stephen Wigmore, chair of British Transplantation Society’s ethics committee, it is unknown to what extent facial expressions will function in the long term. He said that it is not certain whether a patient could be left worse off in the case of a face transplant failing.
Mr Michael Earley, a member of the Royal College of Surgeon‘s facial transplantation working party, commented that if successful, the transplant would be “a major breakthrough in facial reconstruction” and “a major step forward for the facially disfigured.”
In Wednesday’s conference, Siemionow said “we know that there are so many patients there in their homes where they are hiding from society because they are afraid to walk to the grocery stores, they are afraid to go the the street.” “Our patient was called names and was humiliated. We very much hope that for this very special group of patients there is a hope that someday they will be able to go comfortably from their houses and enjoy the things we take for granted,” she added.
In response to the medical breakthrough, a British medical group led by Royal Free Hospital’s lead surgeon Dr Peter Butler, said they will finish the world’s first full face transplant within a year. “We hope to make an announcement about a full-face operation in the next 12 months. This latest operation shows how facial transplantation can help a particular group of the most severely facially injured people. These are people who would otherwise live a terrible twilight life, shut away from public gaze,” he said.
Friday, February 9, 2018
On Wednesday morning, US poet, lyricist, and digital rights activist John Perry Barlow died in his sleep at his San Francisco home. The announcement of his death specified no cause, but reportedly Barlow had recently experienced debilitating health problems. The co-founder of the digital rights legal defense non-profit Electronic Frontier Foundation (EFF) and former lyricist of rock band Grateful Dead was 70. The EFF announced his death.
Barlow composed lyrics for the Grateful Dead, several songs for the psychedelic rock band over almost 25 years. In the 1990s, he shifted his focus to the Internet, composing essays on Internet culture and working with the EFF to protect digital rights.
Born to Republican state legislator Norman Barlow and his wife Miriam, Barlow was raised on the Bar Cross Ranch in Pinedale, Wyoming. Barlow became friends with future Grateful Dead guitarist Bob Weir in high school before attending Wesleyan University in Middleton, Connecticut, where he studied comparative religion. During his studies, Barlow began visiting LSD (lysergic acid diethylamide) drug advocate Timothy Leary.
After graduation in 1969, he opted to travel the world and returned to his family’s ranch in 1971. With his father ill from a stroke, the younger Barlow began ranching before Weir contacted him to finish songs for the latter’s solo album Ace. The collaboration continued with the Grateful Dead and their individual members, with Barlow contributing occasional lyrics until the band’s 1995 dissolution. In 1977, he married Elaine Parker. He sold the family ranch in 1988 due to financial strain.
Barlow became interested in the online world in the 1980s, including becoming a leader at on-line forum the WELL. In 1990, Barlow was interrogated by an Federal Bureau of Investigation agent about possible connections to underground hackers. He posted his experience to the WELL and discovered that Mitch Kapor had had a similar encounter. The duo decided to join together to help provide legal defense for the hackers and formally incorporated the EFF, adding to the EFF board Stewart Brand, John Gilmore, and Apple Inc. co-founder Steve Wozniak. He served on the board of the EFF until his death. He and Elaine divorced in 1995. He met Cynthia Horner in 1993 and was briefly engaged to her before her unexpected death from an undiagnosed health condition at the age of 29.
In addition to digital activism, Barlow was an early commentator on Internet culture, writing several pieces for Wired in its early years and penning essays such as “A Declaration of the Independence of Cyberspace” (1996) that helped define digital citizenship. In 1998 he became a fellow of Harvard University’s Berkman Klein Center for Internet and Society and in 2013 he was inducted into the Internet Hall of Fame. Barlow stayed active in issues related to civil liberties and rights, helping to create the Freedom of the Press Foundation in 2012. Although he had mostly retired from songwriting, he contributed to several songs by jam band The String Cheese Incident.
Barlow suffered a major heart attack in 2015. By late 2016, he faced several serious health conditions, leading several musicians to hold a benefit concert for him to raise funds for his medical bills. He recently completed his memoir Mother American Night, slated for release on June 5.
Barlow is survived his ex-wife Elaine Parker Barlow; the couple’s three daughters Leah Justine, Anna Winter, and Amelia Rose; and a granddaughter.
Tuesday, January 28, 2014
Evansville, Indiana, United States — This past week marked the opening night of an Andy Warhol exhibit at the University of Southern Indiana. USI’s art gallery, like 189 other educational galleries and museums around the country, is a recipient of a major Warhol donor program, and this program is cultivating new interest in Warhol’s photographic legacy. Wikinews reporters attended the opening and spoke to donors, exhibit organizers and patrons.
The USI art gallery celebrated the Thursday opening with its display of Warhol’s Polaroids, gelatin silver prints and several colored screen prints. USI’s exhibit, which is located in Evansville, Indiana, is to run from January 23 through March 9.
The McCutchan Art Center/Pace Galleries at USI bases its exhibit around roughly 100 Polaroids selected from its collection. The Polaroids were all donated by the Andy Warhol Photographic Legacy Program, according to Kristen Wilkins, assistant professor of photography and curator of the exhibit. The Andy Warhol Foundation for the Visual Arts made two donations to USI Art Collections, in 2007 and a second recently.
Kathryn Waters, director of the gallery, expressed interest in further donations from the foundation in the future.
Since 2007 the Andy Warhol Photographic Legacy Program has seeded university art galleries throughout the United States with over 28,000 Andy Warhol photographs and other artifacts. The program takes a decentralized approach to Warhol’s photography collection and encourages university art galleries to regularly disseminate and educate audiences about Warhol’s artistic vision, especially in the area of photography.
Wikinews provides additional video, audio and photographs so our readers may learn more.
Wilkins observed that the 2007 starting date of the donation program, which is part of the Andy Warhol Foundation for the Visual Arts, coincided with the 20th anniversary of Andy Warhol’s death in 1987. USI was not alone in receiving a donation.
K.C. Maurer, chief financial officer and treasurer at the Andy Warhol Foundation, said 500 institutions received the initial invitation and currently 190 universities have accepted one or more donations. Institutional recipients, said Mauer, are required to exhibit their donated Warhol photographs every ten years as one stipulation.
While USI is holding its exhibit, there are also Warhol Polaroid exhibits at the Tang Teaching Museum and Art Gallery at Skidmore College in Saratoga Springs, New York and an Edward Steichen and Andy Warhol exhibit at the Mary & Leigh Block Museum of Art at Northwestern University in Evanston, Illinois. All have received Polaroids from the foundation.
University exhibits can reach out and attract large audiences. For example, the Weatherspoon Art Museum at the University of North Carolina at Greensboro saw attendance levels reach 11,000 visitors when it exhibited its Warhol collection in 2010, according to curator Elaine Gustafon. That exhibit was part of a collaboration combining the collections from Duke University, located in Durham, North Carolina, and University of North Carolina at Chapel Hill, which also were recipients of donated items from the Andy Warhol Photographic Legacy Program.
Each collection donated by the Andy Warhol Photographic Legacy Program holds Polaroids of well-known celebrities. The successful UNC Greensboro exhibit included Polaroids of author Truman Capote and singer-songwriter Carly Simon.
“I think America’s obsession with celebrity culture is as strong today as it was when Warhol was living”, said Gustafon. “People are still intrigued by how stars live, dress and socialize, since it is so different from most people’s every day lives.”
Wilkins explained Warhol’s obsession with celebrities began when he first collected head shots as a kid and continued as a passion throughout his life. “He’s hanging out with the celebrities, and has kind of become the same sort of celebrity he was interested in documenting earlier in his career”, Wilkins said.
The exhibit at USI includes Polaroids of actor Dennis Hopper; musician Nick Rhodes of Duran Duran; publishers Jann Wenner of Rolling Stone Magazine and Carlo De Benedetti of Italy’s la Repubblica; disco club owner Steve Rubell of Studio 54; photographers Nat Finkelstein, Christopher Makos and Felice Quinto; and athletes Vitas Gerulaitis (tennis) and Jack Nicklaus (golf).
Wikinews observed the USI exhibit identifies and features Polaroids of fashion designer Halston, a former resident of Evansville.
University collections across the United States also include Polaroids of “unknowns” who have not yet had their fifteen minutes of fame. Cynthia Thompson, curator and director of exhibits at the University of Arkansas, Fayetteville, said, “These images serve as documentation of people in his every day life and art — one which many of us enjoy a glimpse into.”
Warhol was close to important touchstones of the 1960s, including art, music, consumer culture, fashion, and celebrity worship, which were all buzzwords and images Wikinews observed at USI’s opening exhibit.
He was also an influential figure in the pop art movement. “Pop art was about what popular American culture really thought was important”, Kathryn Waters said. “That’s why he did the Campbell Soup cans or the Marilyn pictures, these iconic products of American culture whether they be in film, video or actually products we consumed. So even back in the sixties, he was very aware of this part of our culture. Which as we all know in 2014, has only increased probably a thousand fold.”
“I think everybody knows Andy Warhol’s name, even non-art people, that’s a name they might know because he was such a personality”, Water said.
Hilary Braysmith, USI associate professor of art history, said, “I think his photography is equally influential as his graphic works, his more famous pictures of Marilyn. In terms of the evolution of photography and experimentation, like painting on them or the celebrity fascination, I think he was really ground-breaking in that regard.”
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The Polaroid format is not what made Warhol famous, however, he is in the company of other well-known photographers who used the camera, such as Ansel Adams, Chuck Close, Walker Evans, Robert Mapplethorpe, and Helmut Newton.
Wilkins said, “[Warhol] liked the way photo booths and the Polaroid’s front flash looked”. She explained how Warhol’s adoption of the Polaroid camera revealed his process. According to Wilkins, Warhol was able to reproduce the Polaroid photograph and create an enlargement of it, which he then could use to commit the image to the silk screen medium by applying paint or manipulating them further. One of the silk screens exhibited at USI this time was the Annie Oakley screen print called “Cowboys and Indians” from 1987.
Wilkins also said Warhol was both an artist and a businessperson. “As a way to commercialize his work, he would make a blue Marilyn and a pink Marilyn and a yellow Marilyn, and then you could pick your favorite color and buy that. It was a very practical salesman approach to his work. He was very prolific but very business minded about that.”
“He wanted to be rich and famous and he made lots of choices to go that way”, Wilkins said.
| It’s Warhol. He is a legend. | ||
Kiara Perkins, a second year USI art major, admitted she was willing to skip class Thursday night to attend the opening exhibit but then circumstances allowed for her to attend the exhibit. Why did she so badly want to attend? “It’s Warhol. He is a legend.”
For Kevin Allton, a USI instructor in English, Warhol was also a legend. He said, “Andy Warhol was the center of the Zeitgeist for the 20th century and everything since. He is a post-modern diety.”
Allton said he had only seen the Silver Clouds installation before in film. The Silver Clouds installation were silver balloons blown up with helium, and those balloons filled one of the smaller rooms in the gallery. “I thought that in real life it was really kind of magical,” Allton said. “I smacked them around.”
Elements of the Zeitgeist were also playfully recreated on USI’s opening night. In her opening remarks for attendees, Waters pointed out those features to attendees, noting the touches of the Warhol Factory, or the studio where he worked, that were present around them. She pointed to the refreshment table with Campbell’s Soup served with “electric” Kool Aid and tables adorned with colorful gumball “pills”. The music in the background was from such bands as The Velvet Underground.
The big hit of the evening, Wikinews observed from the long line, was the Polaroid-room where attendees could wear a Warhol-like wig or don crazy glasses and have their own Polaroid taken. The Polaroids were ready in an instant and immediately displayed at the entry of the exhibit. Exhibit goers then became part of the very exhibit they had wanted to attend. In fact, many people Wikinews observed took out their mobiles as they left for the evening and used their own phone cameras to make one further record of the moment — a photo of a photo. Perhaps they had learned an important lesson from the Warhol exhibit that cultural events like these were ripe for use and reuse. We might even call these exit instant snap shots, the self selfie.
Children enjoy interacting with the “Silver Clouds” at the Andy Warhol exhibit. Image: Snbehnke.
Kathryn Waters opens the Andy Warhol exhibit at USI. Image: Snbehnke.
At the Andy Warhol exhibit, hosts document all the names of attendees who have a sitting at the Polaroid booth. Image: Snbehnke.
Curator Kristin Wilkins shares with attendees the story behind his famous Polaroids. Image: Snbehnke.
A table decoration at the exhibit where the “pills” were represented by bubble gum. Image: Snbehnke.
Two women pose to get their picture taken with a Polaroid camera. Their instant pics will be hung on the wall. Image: Snbehnke.
Even adults enjoyed the “Silver Clouds” installation at the Andy Warhol exhibit at USI. Image: Snbehnke.
Katie Waters talks with a couple in the Silver Clouds area. Image: Snbehnke.
Many people showed up to the new Andy Warhol exhibit, which opened at USI. Image: Snbehnke.
At the exhibit there was food and beverages inspired to look like the 1960s. Image: Snbehnke.
A woman has the giggles while getting her Polaroid taken. Image: Snbehnke.
A man poses to get his picture taken by a Polaroid camera, with a white wig and a pair of sunglasses. Image: Snbehnke.
Finished product of the Polaroid camera film of many people wanting to dress up and celebrate Andy Warhol. Image: Snbehnke.
Saturday, March 20, 2010
According to an announcement from Gwent Police, a baby boy has died after being found abandoned behind a convenience store in Gwent, Wales. The boy, who has not yet been identified, was found behind a Spar convenience store in the town of Cwmcarn at 1815 GMT on Tuesday. The baby was found to be wrapped in a towel which was in a plastic shopping bag. Bystanders who were walking past the scene mistakenly believed that the bag had been unintentionally left there by a person who had visited the gym that is located next to the store.
A 14-year-old boy, who is the son of the man who owns the convenience store, then examinied the bag and discovered the baby. He made a phone call to the emergency services, however, when the baby was taken to Royal Gwent Hospital, it was pronounced dead on arrival. The baby was younger than one day old at the time of his death. A post-mortem examination proved to be indeterminate. Gwent Police have now launched an investigation to try and determine the identity of the baby’s mother.
Gursewak Singh, the father of the person who discovered the baby and the owner of the shop, explained: “We asked friends and colleagues what the bag was doing there, but it didn’t belong to anyone. A boy who works with us said it was just a towel in there and he didn’t open it. In the evening I went out to it and opened it, only saw a towel on top and didn’t look thoroughly. I just thought it was clothes underneath and didn’t want to root through them. I picked it up and hanged it on the gatepost so someone walking by might see it and recognise it as theirs. At about six o’clock there was a power cut and my 14-year-old son went out and picked up the bag and opened it and saw a little head in there. He called his uncle and said: ‘It’s not clothes, come and look’. They came over and saw the baby in there.” Singh commented that this incident “was shocking. We were all devastated. I wish we had checked earlier. If we had gone through the bag we could have made a difference. I’m worried what sort of condition the person who left the bag is in. We are so concerned about her. Other people saw the bag, but nobody thought about it. There could be a baby still alive. I wish we had checked straight away.”
Gwent Police member Superintendent John Burley stated about this case: “We are extremely concerned about the health and wellbeing of the mother of the baby and are appealing for her to come forward to receive any medical treatment she may require. This is a tragic incident which will sadden the local community and our priority at the moment is finding the mother of the baby. I would appeal to anyone who may have been in the vicinity of the Spar store on Thursday morning or afternoon who may be able to offer any information to assist our inquiry.”
Friday, October 2, 2009
Companies in the United States are shedding more jobs, pushing the country’s unemployment rate to a 26-year high of 9.8%.
The US Labor Department said on Friday that employers cut 263,000 jobs in September, with companies in the service industries — including banks, restaurants and retailers — hit especially hard. This is the 21st consecutive month of job losses in the country.
The United States has now lost 7.2 million jobs since the recession officially began in December 2007. The new data has sparked fears that unemployment could threaten an economic recovery. Top US officials have warned that any recovery would be slow and uneven, and some have predicted the unemployment rate will top 10% before the situation improves.
“Continued household deleveraging and rising unemployment may weigh more on consumption than forecast, and accelerating corporate and commercial property defaults could slow the improvement in financial conditions,” read a report by the International Monetary Fund’s World Economic Outlook, predicting that unemployment will average 10.1% by next year and not go back down to five percent until 2014.
Mark Zandi, chief economist at Moody’s Economy.com, said that “it’s a very fragile and tentative recovery. Policy makers need to do more.”
“The number came in weaker than expected. We saw a lot of artificial involvement by the government to prop up the markets, and now that that is starting to end, the private sector isn’t yet showing signs of life,” said Kevin Caron, a market strategist for Stifel, Nicolaus & Co.
Also on Thursday, the US Commerce Department said factory orders fell for the first time in five months, dropping eight-tenths of a percent in August. Orders for durable goods — items intended to last several years (including everything from appliances to airliners) — fell 2.6%, the largest drop since January of this year.
The US government has been spending billions of dollars — part of a $787 billion stimulus package — to help spark economic growth. There have been some signs the economy is improving.
The Commerce Department said on Thursday that spending on home construction jumped in August for its biggest increase in 16 years. A real estate trade group, the National Association of Realtors, said pending sales of previously owned homes rose more than 12 percent in August, compared to August 2008.
A separate Commerce Department report said that consumer spending, which accounts for more than two-thirds of US economic activity, rose at its fastest pace in nearly eight years, jumping 1.3 percent in August.
Other reports have provided cause for concern. A banking industry trade group said Thursday the number of US consumers making late payments, or failing to make payments, on loans and credit cards is on the rise. A survey by a business group, the Institute for Supply Management, Thursday showed US manufacturing grew in September, but at a slower pace than in August when manufacturing increased for the first time in a year and a half.
Stock markets reacted negatively to the reports. The Dow Jones Industrial Average fell 41 points in early trading, reaching a level of 9467. This follows a drop of 203 points on Thursday, its largest loss in a single day since July. The London FTSE index fell 55 points, or 1.1%, to reach 4993 points by 15.00 local time.
Friday, January 27, 2006
General Motors Corporation (GM) has posted its first annual loss since 1992. GM reported losing US$4.8 billion in the fourth quarter of 2005 and a total loss of $8.6 billion for the entire year.
GM admitted Thursday night that the loss could swell further as it pays pensions and healthcare costs to thousands of former workers. GM warned that the amount calculated for last year is preliminary and could rise before it is officially reported to the US securities and exchanges commission in March.
The loss was far greater than analysts predicted. Ford, the second of the big three American car manufacturers, beat predictions earlier in the week. In contrast, Toyota is expected to report that it will beat last year’s profit of $11 billion.
GM’s automotive division lost $1.5 billion in the fourth quarter, driven by losses in North America. This has been attributed to GM’s shrinking market share, which has been taken by Japanese manufacturers Toyota and Nissan.
A further $1.3 billion was lost in restructuring charges. As part of the restructure, GM plans to cut 30,000 jobs and close 12 facilities by 2008.
An aide for Kirk Kerkorian, GMs largest individual investor (at 9.9%), has called on the company to halve its $1.1 billion annual dividend, cut executive pay and sell Saab.
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