* Oil falls below $41 as recession batters US (Alex Kennedy)

SINGAPORE — Oil prices fell below $41 a barrel Friday in Asia as soaring U.S. unemployment and bleak corporate results kept investors pessimistic about demand for crude.

* Oil stays over $40; world stock markets fall

VIENNA Poor U.S. corporate results, rising crude inventories and OPEC output cuts kept oil prices hovering near $40 today.

* Kidnapping, outsourcing prompt Nigerian oil union strike (Carmen Gentile, United Press International)

Nigeria’s oil unions are threatening to stop work over plans to outsource inspections, as well as the growing danger in the country’s oil sector, as three more kidnappings were reported from the poor Delta region, including that of the wife of a former oil minister.

* Oil remains near $40 on mixed news

VIENNA — Poor U.S. corporate results, rising crude inventories and OPEC output cuts kept oil prices hovering near $40 on Thursday.

* Hans Beck dies at 79; inventor of Playmobil toys (Valerie J. Nelson, Los Angeles Times)

Beck died near Lake Constance in southern Germany, where he moved after retiring in 1998, a Playmobil USA spokeswoman confirmed.

* Letters to the Editor for Thursday, February 5, 2009 (News & Advance)

The media and the Obama administration are beginning to make us hate corporate America and its abuses and excesses. We see daily articles on the bonuses that CEOs are receiving while their work forces are slashed, sports events are sponsored by bailed-out banks, or excessive profits are being made in the face of an energy crisis. Every day we see more and more companies laying off workers. Th…

* Changes in lifestyle can increase vitality as winter progresses (Commercial Appeal)

Caffeine in coffee and energy drinks activates the nervous system, which expends energy and causes fatigue.

* Around the nation (Houston Chronicle)

WASHINGTON The chairman of a House committee overseeing airlines says it should be harder for carriers to work together on setting prices and schedules.

* How to beat the winter energy blahs (Denver Post)

Winter makes you want to eat potatoes, drink wine and sleep forever. The days are dark and short, seasonal depression causes fatigue, and the couch is often far more inviting than the frigid outdoors.

* Community news in brief (News Journal)

The Delaware Adolescent Program Inc. is expanding a program which has raised the GPA of students in Laurel by 10 percent to include DAPI s pregnant and parenting teen population throughout Delaware.

CIE Train

Well, it’s another new year, another set of fare hikes for CIE. Everything’s going up, as usual: Bus, train and Luas users are all going to have to cough up that little bit extra for the luxury of these public services. Of course, this is nothing new – it’s been happening every single new year for at least the last decade. It’s as regular as the services themselves are not.

During the Celtic Tiger years, the excuse used by CIE for putting up prices was rising fuel costs, the added pressure on services to cater for immigrant commuter workers to the country, etc etc. Well, we can see now that those excuses were a load of rubbish – the workers are leaving Ireland in droves, fuel costs are at their lowest in years, and yet the fares still make their annual leap. Not only that, but many routes are going to have their services reduced, and some will be cut altogether.

This time, the explanation is that the CIE have made massive operating losses in the last year, due to a drop in demand for services.

So, let’s be clear: This company’s reaction to making operating losses is to increase fares. Now, I’m no business acolyte, but I am familiar with the concept of common sense. And there is no common sense in CIE’s explanation. It goes against even the most basic rules of commercial interaction. You attract customers by lowering the cost to them, right? But no, this insular, state-mollycoddled service can keep putting up  fares while issuing statements that defy logic outright. Why? Because they have a monopoly. Because so many people have no choice but to use them. (And like all good monopolies, CIE hate criticism. A few years back, I wrote an article for a college magazine that lambasted their quality of service. CIE promptly contacted the college’s students union and informed them that if they continued publishing this type of disparagement, measures would have to be taken. Legal action was not directly threatened, but the state of affairs was made very clear.)

CIE Logo

It’s actually cheaper now to run a small car on a week to week basis than it is to use the bus regularly. Certainly, for longer trips, there is no comparison. The fact is that in a world suffering an environmental crisis, where almost every other first-world nation is actively encouraging its citizens to get out of the car and use public transport, Ireland is swimming furiously against the tide. Increased fares, less routes and no improvement on what is, let’s be honest, a shite service…. what are they playing at? Our Government seems determined to put more people on the already-congested roads.

Also, despite CIE’s claims that they are hemorrhaging customers, we still see comments and headlines like these:

http://www.independent.ie/opinion/letters/cie-fare-hikes-cant-be-justified-1595255.html

or

http://www.tribune.ie/news/article/2008/sep/28/irish-rail-enough-empty-trains-to-get-to-the-moon/

in which we see a glimpse of the astonishingly wasteful practices of the company. When you read reports that say “…almost 20% of the empty mileage is attributable to Iarnród Éireann’s refusal to decentralise drivers to commuter centres…”, it’s difficult to feel sympathy for the huge losses that they manage to incur. These people have no idea how to run a streamlined business, and have no incentive to learn, either. Why should they? They know that no matter how much they run the company into debt (and the national transport infrastructure into the ground) that they will be bailed out in the new year. The commuter will pay the price, simply because they have to. No heads will roll, no individual will be held accountable, and no competition will be allowed to show them up for the shambles they are.

And all of this is occurring in the most difficult economic climate the country has seen in decades, where people are struggling to even find work to pay off their debts, and in which Fianna Fail responded to a national financial crisis by rolling out a Sheriff-Of-Nottingham budget that specifically targeted the middle classes, students and the elderly – the people least likely to fight back. But these would-be-victims surprised the whole country by organising their collective anger and making a difference. Specifically, the ageing population of the country took to the streets in their droves because of the withdrawal of free medical cards. Rarely have I felt more proud to be Irish than when I read reports of government ministers being shouted down by OAPs who had had enough and were not going to take it anymore. Fianna Fail got very scared and made budget backtracks faster than anyone had anticipated.

OAP Protests

But that was a rare high point in a situation that has seen Fianna Fail try to claw money back from the most vulnerable; the very money that the government wasted in the first place and continues to waste. Instead of blatant theft, the government has simply adopted a strategy of “testing the waters”. They see how far they can go before people freak out and protest. And yes, the OAPs and students put up a fight, but look at what wasn’t protested or repealed: A new ‘levy’ of between 1 and 2% on all incomes. Increased air travel tax, now a huge 10 Euros per flight (over 300km).  Alcohol tax is up there with the highest in Europe, and general VAT rates went up. So, when huge crowds of Irish shoppers crossed the border to the North to do their shopping with the much fairer UK rates, they were rebuked by Finance Minister Brian Lenihan, who said:

“When you shop in Northern Ireland, you’re paying Her Majesty’s taxes, you’re not paying taxes to the state that you live in.”

That’s right, folks – it’s your patriotic duty to get robbed. Forget about the myriad bank executives who receive little more than a slap on the wrist for deeply irresponsible – and often, illegal – financial activities. Forget the black hole of public funding that is the Health Service Executive. Forget the fact that Hoffa-esque unions have held this country to ransom for decades, and that noone in government has the guts to do a thing about it. Forget all that, because once you cross the border to actually get value for your money, you become a veritable dissident.

Funnily enough, “patriotic duty” was also the weak reasoning behind Fianna Fail’s campaign to get the Lisbon Treaty passed. Rather than present any cogent arguments, they told the country that it was our civic obligation to (a) not ask questions and (b) tick the ‘yes’ box. This “just shut up and do it” attitude extended to the point where Cowen admitted that he had not read the entire text of the Treaty.

And yet, in this catalogue of monumentally selfish and cavalier actions, the worst still seems to me the CIE price hike. Why? Because it targets the people who have no choice. Because CIE can’t come up with a single good excuse for their actions. Because every other country in Europe has a transport system that is at least somewhat affordable and dependable. Because, as someone told me the other day, the ticket machine in Cork Bus Station does not accept 50 Euro notes – and often, neither do the drivers. Because it’s an insult those of us who do our bit for the environment. Because it exemplifies the quagmire of bureaucracy and non-responsibility that has helped send this country into a recession. Because this shambles of a company, this paradigm of wastefulness and arrogance, continues to exist only because it exploits the people who have no choice but to use it. Worst, because it seems the most like a  slap in the face.

How can a government expect the citizens of a country to do anything for them in the name of ‘Patriotic Duty’ when there is so little patriotism being shown by the government themselves?

f

November 22 2008

By Nigel Morris

Banks are told to do their bit for the economy / Downing Street considers ‘nuclear option’ to make lenders release cash

The Government is using the threat of a wholesale nationalisation of banks in an attempt to force institutions to lend billions to small companies struggling to survive as Britain slips into recession.

Downing Street yesterday made plain its fury over high street banks which refuse to use the massive injection of taxpayers’ money they have received to come to the rescue of businesses hit by the credit crisis. Lenders have also faced criticism over interest rates charged to homeowners and for stepping up repossessions.

Meanwhile, Gordon Brown dismissed suggestions that he should take advantage of his reviving popularity by calling a June general election, insisting he was fully focused on steering Britain out of the downturn, starting with Monday’s pre-Budget report.

It will spell out plans for tax cuts and assistance for the country’s 4.7 million small firms. The aid will be funded by increases in government borrowing, which is on course to exceed £100bn next year. Alistair Darling, the Chancellor, will also announce that taxes will have to rise in the medium term to reduce the national debt. The financial stimulus package is designed to breathe new life into the economy but Mr Darling fears the behaviour of the banks could undermine the moves.

He is expected to announce controlson the interest rates charged on small business loans, as well as measures to stem the rising tide of repossessions.

Ministers are irritated that banks the Treasury bailed out are dragging their feet over passing on the money. The Treasury took stakes in HBOS, Lloyds TSB and Royal Bank of Scotland in return for £37bn of public funds. The banks promised to return lending to last year’s levels. John McFall, the chairman of the Treasury select committee and an ally of Mr Brown and Mr Darling, raised the prospect of state control, saying: “If the banks do not play ball, and will not resume lending, then the demand for full-scale nationalisation may well grow.”

No 10 refused to rule out such a step, regarded by officials as the “nuclear option”. Mr Brown’s spokesman said: “In these circumstances, of course we have got to look at all the options. But we want to work constructively with the banks to ensure they fulfil the commitments they have entered into.”

Asked a second time about full nationalisation, he replied: “It would clearly be foolish for anybody to rule out specific options at this stage.”The Government has made little effort to disguise its frustration at the behaviour of banks towards small businesses and mortgage-payers.

Mr Darling is preparing to use his pre-Budget report to fire a shot across their bows with tough demands on lending. He is not expected to impose further legal sanctions on banks, such as the appointment of a powerful watchdog to monitor lending rates, but officials want to keep options in reserve if the banks fail to respond.

As figures from the Council of Mortgage Lenders showed a 12 per cent increase in house repossessions in the third quarter, Mr Brown signalled further help was on the way for families at risk of losing their homes. He acknowledged that Northern Rock, which is already in public hands, was among the worst offenders. “We have been talking to Northern Rock about its practices and I think you will see some changes … very soon,” he said.

Mr Brown dismissed suggestions he could call a general election on 4 June, to coincide with European and local elections, if Labour’s recovery in the polls is sustained into next spring. “My undivided attention is on the economy, I’m not thinking about anything else, it’s 100 per cent of my attention and you just discount all these stories. I’m actually not thinking about anything related to internal politics.”

Angela Knight, the chief executive of the British Bankers’ Association, insisted that lending to small firms was at the same level as last year.

Meanwhile, Honda said that production would halt at its Swindon plant for two months, but none of its 4,800 workers would be laid off.

Source

- The market took a beating again today – breaking a few records for largest intraday drop, a 52 week low (52 week high was exactly a year ago, today) – closed below 8,600 for the first time in a long while (May, 2003, apparently).

Ambulance called prior to Bent’s release

VIDEO: KOB-TV
done

From the Assocated Press:

SANTA FE, N.M. – Authorities say the leader of an apocalyptic sect in northeastern New Mexico has been released from jail after his son posted his bond.

The clerk of the magistrate court in Clayton said a $55,000 bond was posted for Wayne Bent. He was released Friday afternoon.

Bent is accused of sex crimes against young female followers. His sect lives on a compound called Strong City in a remote area near the New Mexico-Colorado line.

At first court appearance on Thursday, his bond was lowered from $500,000.

: : : : : : : : : : :

Ok, so I have stumbled across something very difficult to get around without cash; Bouncers! I don’t mean to stereotype or slander but so far the average door man standing in between me and a good night on the tiles with my friends has not had the time/intellect/inclination to even want to hear my story. I expect the choice of establishment I regularly choose to frequent has not helped the situation; maybe a bigger, more professional, mainstream club might yield more sympathy. It is just a pity that those clubs cost more to get in than I am able to afford in cash or card most of the time and the bars and clubs I can afford, and prefer going to, are guarded by monstrous, unqualified Neanderthals demanding shrapnel to the value of £3.

Three miserly Pounds! It seems frustrating enough that the East End Dives feel like that is a fair price for being the last places open every night of the week, for being the last resort of the Hoxtonites and for just being in the right postcode this year. But what I just cannot swallow, try as I might, is the inconsistency and illogic behind this bastard three Pounds. I wouldn’t mind the guaranteed argument, the bartering, the negotiation and the almost certain rejection from these door men if I wasn’t absolutely-fucking-positive that the average looking blonde haired temptress in front of me got in for free.

I must admit, and I am ashamed to say so, I have played the invaluable wild-card a number of times. My beautiful and increasingly pissed-off girlfriend has come to my rescue, bailing me out and getting me into the bar or club. Sometimes in return for drinks on the inside but mostly out of kindness and for that, I would like to thank her.

This one is going to be difficult. I’m not going to give up. I will find a way around these unreasonable meat-heads somehow, and hopefully without resorting to growing my hair and getting a boob-job.