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Thursday, September 21, 2017

On Monday night, New Jersey, US-based toy retail giant Toys R Us filed for bankruptcy in the US as well as in Canada. The retailer filed it from Richmond, Virginia for Chapter 11 bankruptcy code in the US, and a judge allowed a loan of over US$2 billion.

According to the filing, the retail chain owns US$6.6 billion in assets, but has a debt of US$7.9 billion. They were under a roughly US$5 billion debt since the company underwent a three-way acquisition in 2005. Kohlberg Kravis Roberts, Bain Capital, and Vornado Realty Trust acquired Toys R Us for around US$7 to US$7.5 billion. After the US judge approved a loan, Toys R Us received about US$3 billion from the lenders to continue the business and survive a competitive market, and restructure their business model. E-commerce giant Amazon.com, Walmart and Target are some of the competitors for the conventional ‘brick and mortar’ toy shop, with lower priced-merchandise and fast, cheap delivery. In a conference call in June, CEO Dave Brandon said “very, very aggressive pricing online” was causing problems. He also said the company was experiencing “significant weakness in demand for their products globally”. Toys R Us are to clear a debt of US$400 million by May 2018.

Toys R Us said they would continue to operate for the holiday season. Bankruptcy lawyer Jeff Gleit said Toys R Us “need to do both a financial restructuring as well as an operational restructuring” and “needs to modernize with the times”. Last holiday season, Toys R Us made sales around US$4.5 billion. Overall, the company reported a US$29 million loss in 2016. CEO Brandon said, “Our objective is to work with our debt holders and other creditors to restructure the US$5 billion of long-term debt on our balance sheet, which will provide us with greater financial flexibility to invest in our business”.

Toys R Us employs more than 60 thousand people in 38 countries around the world in more than 1600 stores. The company’s stocks fell by six percent after filing for Chapter 11 protection. US bankruptcy code Chapter 11 allows the company to restructure under a plan approved by the court. The company would also be shielded from creditors’ claims during the process. For the stores located in Canada, Toys R Us filed bankruptcy in Ontario and are to undergo reorganisation. However, 259 stores located outside the US or Canada will not undergo reorganisation, the company said.

Over 300 US-based retailers have filed for bankruptcy this year, and hundreds of stores closed.

Sunday, November 23, 2008

A Pembroke Pines, Florida teenager killed himself Wednesday, November 19, while broadcasting on the live video site Justin.tv. After making suicide threats and being encouraged by Justin.tv viewers and Bodybuilding.com forum members, Abraham K. Biggs, 19, committed suicide by taking an overdose of opiates and benzodiazepine, which had been prescribed for his bipolar disorder.

Biggs first began blogging about his planned suicide 12 hours before the actual event. He died after taking pills and lying on the bed in front of the webcam. After the broadcast, viewers who apparently thought it was a hoax posted messages such as “OMG”, “LOL”, and “hahahah”.

Hours later, after being alerted by viewers who had noticed that Biggs had stopped breathing, law enforcement and paramedics arrived, discovered his body, and covered the camera. The Broward County Medical Examiner’s Office has reportedly confirmed Biggs’ death.

According to Montana Miller of the Bowling Green State University, the circumstances of this case were not shocking: “If it’s not recorded or documented, then it doesn’t even seem worthwhile. For today’s generation it might seem, ‘What’s the point of doing it if everyone isn’t going to see it?'”

Biggs’ sister Rosalind was angry that neither the website nor its viewers reacted soon enough to save him. “They got hits, they got viewers, nothing happened for hours,” she said. She described him as “very happy” and “friendly and outgoing.” “On a normal day, you couldn’t really tell that he got as low as he did.” However, he did have relationship problems with his girlfriend, according to a friend.

Mental health professionals have warned about the possibility that other mentally troubled people would copy his actions. According to Dr. David Shaffer of Columbia University, “Any video showing it as heroic or romantic or glamorous could reduce the anxiety people might feel about suicide. It becomes a respectable behavior and lowers the threshold of suicide.” He and other psychiatrists recommend that potentially suicidal teens talk to others and “tell what’s going on.”

Tuesday, April 26, 2005

Rescuers working with cranes and heavy equipment at the scene of Japan’s worst rail accident in forty years pulled 3 survivors and more bodies out of the wreckage of a packed commuter train that derailed on Monday. The crash is now claiming 95 lives and over 400 injuries. Hopes are fading for more survivors in the rail car search where it is thought a dozen bodies may yet remain.

The train crashed into the side of a nine-story apartment building located nearby a bend where it jumped the track. Relatives of those lost are arriving in Amagasaki to identify loved ones in a gymnasium where a makeshift morgue is located.

Police searching for the cause of yesterday’s disaster investigated eight offices of West Japan Railway Co on Tuesday for clues to the rail driver. Police conducting the probe said professional negligence may be involved. The train operator, who in the past received a warning for a similar incident, over-shot the stop at the previous station and had to back the train up nearly 40 m (130 feet).

It is unclear whether the inexperienced driver of the train survived, 23-year-old Ryujiro Takami with 11 months on the job.

Running late and traveling at what survivors thought was excessive speed, it is believed the train lost control at a bend in the track where 71 km/h (44 mph) was the speed limit; however, any speeds under 134 km/h (83 mph) should not have caused derailment.

The train and aircraft disaster research committee, which reports to the Ministry of Land, Infrastructure and Transport, began to research the disaster. The committee members revealed unofficially the physical reasons of the disaster are quite complexe A member of the committee says the speed of train was monitored and at the fifth train it was recoreded that this car had run at 108 km/h speed in a certain moment after emergency brake had worked.

Friday, March 23, 2007

In a press release earlier today, New York State Agriculture Commissioner Patrick Hooker, along with Dean of Cornell University’s College of Veterinary Medicine Donald F. Smith, confirmed that scientists at the New York State Food Laboratory identified Aminopterin as a toxin present in cat food samples from Menu Foods.

Menu Foods is the manufacturer of several brands of cat and dog food subject to a March 16, 2007 recall.

Aminopterin is a drug used in chemotherapy for its immunosuppressive properties and, in some areas outside the US, as a rat poison. Earlier reports stated that wheat gluten was a factor being investigated, and officials now state that the toxin would have come from Chinese wheat used in the pet food, where it is used for pest control. Investigators will not say that this is the only contaminant found in the recalled food, but knowing the identity of the toxin should assist veterinarians treating affected animals.

The Food Laboratory tested samples of cat food received from a toxicologist at the New York State Animal Health Diagnostic Center at Cornell University. The samples were found to contain the rodenticide at levels of at least 40 parts per million.

Commissioner Hooker stated, “We are pleased that the expertise of our New York State Food Laboratory was able to contribute to identifying the agent that caused numerous illnesses and deaths in dogs and cats across the nation.”

The press release suggests Aminopterin, a derivative of folic acid, can cause cancer and birth defects in humans and can cause kidney damage in dogs and cats. Aminopterin is not permitted for use in the United States.

The New York State Food Laboratory is part of the Federal Food Emergency Response Network (FERN) and as such, is capable of running a number of unique poison/toxin tests on food, including the test that identified Aminopterin.

Tuesday, September 27, 2005

Sun Microsystems has released StarOffice 8 today. StarOffice 8 is a commercial office suite that includes word-processing, spreadsheet, presentation, drawing and database applications.

According to Sun, StarOffice 8 “provides excellent compatibility with Microsoft Office”. This new version improves Word, Excel and PowerPoint import and export filters, improving support for password-protected Word and Excel files and presentations with complex animations, autoshapes and slide transitions. StarOffice 8 also includes a Microsoft Office macro converter allowing many Microsoft Office macros to work in StarOffice.

StarOffice 8 is also the first commercial office suite to support the OASIS Open Document Format for Office Applications (OpenDocument). OpenDocument is an XML based file format created by the Organization for the Advancement of Structured Information Standards. Massachusetts has recently announced the plan to switch to OpenDocument format. Microsoft has said it will not support the OpenDocument format.

StarOffice 8 is based on the open source OpenOffice.org project. OpenOffice.org was founded July 2000, by Sun with the release of StarOffice code under two open source licenses.

StarOffice 8 is available as a download from Sun’s Web site for $69.95, or packaged product can be ordered for $99.95. Enterprise customers can purchase StarOffice 8 for $35 (£20) per user. OpenOffice.org is available for free from openoffice.org.

Friday, November 3, 2006

On November 13, Torontonians will be heading to the polls to vote for their ward’s councillor and for mayor. Among Toronto’s ridings is Scarborough-Agincourt (Ward 39). Two candidates responded to Wikinews’ requests for an interview. This ward’s candidates include Wayne Cook, Mike Del Grande (incumbent), Samuel Kung, Lushan Lu, Sunshine Smith, and John Wong.

For more information on the election, read Toronto municipal election, 2006.

Thursday, September 18, 2008

In the lead-up to the 2008 Canadian federal elections much speculation was made about environmental issues and initiative, with various parties maneuvering to claim some portion of the green mantle. But it was the Liberal party which first brought a full-blown policy to the public.

In the months since the Green Shift initiative was brought forth, the political pundits and activists have both talked about this year as the first election where the environment would be a major issue on the minds of voters, and possibly a decisive one for the electorate.

It’s indeed true the environment ranks very high in minds of voters across the country, particularly among young voters. One national survey of Canadians between 18 and 25 finds the environment is the top issue. A poll of all voters found it to be the third most important single issue over all, behind the economy and health care, but the poll suggested that no one issue has really caught the attention of the electorate with many issues gaining similar attention.

The parties themselves seem indecisive, trying to claim a focus on environmental issues but rarely making specific proposals or promises, with the notable exception of the Liberals whose platform has been targeted by opponents and commentators as “wildly experimental” and “doesn’t go deep enough” by turns.

Examining the platforms of the New Democratic Party regarding air pollution and global warming as available on their website, one is struck by a lack of substance. Reference is made to C-377, the Climate Change Accountability Act, which the NDP calls “Layton’s Kyoto-Plus Bill”, which was passed in 2006. The party believes Canada can achieve its Kyoto requirements by 2012, though no mention is made of how a Layton government would do so.

In June of 2008 the Liberals tabled a plan, the Green Shift, which they claim would reduce Canada’s greenhouse gas emissions 20% under 1990 emissions – well below the 6% required by Canadian law when Canada ratified the Kyoto Accord – by 2020, which is rather after the 2008-2012 phase-in period required by that same law. The method of performing this reduction would be to shift the Canadian tax system, reducing income and revenue taxes by replacing them with taxes on greenhouse gas emissions. The plan generated considerable discussion and opposition, and the party has back-pedaled in some portions and added on in others, as well as announcing a couple of separate initiatives to soften the effects for farmers, homeowners, and fishermen among others.

A more diverse approach than solely a “Carbon Tax” is proposed in the Green Party’s platform, which presents an almost holistic approach of adherence to the Kyoto obligations, “Cap and trade” of carbon emissions, industry development with both green technology R&D and regulation as well as consumer subsidies, and their own version of a carbon tax. Alone of the parties they specifically mention the role of international diplomacy/trade as a part of their approach.

Such an approach appears to be anathema to the Conservatives, whose mantra since their election has been that Kyoto cannot be complied with without forcing an economic recession on the country, and used the Throne Speech of 2007 to reiterate that position. They have opposed cap-and-trade schemes in the past, but their platform for this election states their plan to reduce greenhouse gas emissions includes emissions caps for “four air pollutants commonly associated with smog and acid rain,” as well as “tough emission reduction targets”.

In contrast to the laundry-list of unconnected initiatives on the Conservative’s website, the clean platform pamphlet created by the Bloc Québécois makes a simple and apparently heartfelt statement on the environment:

La lutte aux changements climatiques est devenue un enjeu fondamental pour l’humanité et le Québec est déterminé à apporter sa contribution, à sa façon. À Ottawa, c’est le Bloc Québécois qui mène la lutte en faveur de l’application du protocole de Kyoto dans le respect des choix du Québec.

Tackling climate change has become a fundamental issue for all of humanity and Québec is determined to make its contribution, in its own way. In Ottawa, the Bloc Québécois, respecting Québec’s choices, is leading the fight to enforce the Kyoto Protocol.

Just how they plan to enforce the Kyoto obligations is not stated, though they do discuss a carbon market, and tax incentives for home heating upgrade and transportation.

There seems to be a wide if somewhat shallow interest in the electorate as to just what each party is offering on the environmental file. But with sketchy platforms regarding environmental issues, it’s no wonder some of the parties have turned to the subject of economics in recent days.