Monday, May 22, 2006

Luxembourg’s largest steel company Arcelor is ready to study Mittal Steel‘s improved takeover offer, the former said on Sunday, opening the door to possible talks with Indian steel magnate Laxminivas Mittal. Arcelor Chairman Joseph Kinsch told reporters after a meeting of Arcelor’s board that the company’s directors would be ready to examine the details of Mittal’s latest offer once it has been approved by the CSSF (Luxembourg’s financial regulatory body).

Until Sunday, Arcelor, the world’s second-largest steel company, had firmly rejected world-leader Mittal’s bid to take the former company over and form a global steel giant. The softening of Arcelor’s stance comes after Mittal Steel raised its hostile cash-and-equity bid by a third on Friday and dropped a key demand for family control over the combined entity.

Media reports had suggested that Arcelor was trying to find another company to rescue it from being taken over by Mittal Steel. Possible candidates included Russian tycoon Vladimir Lisin and Russia’s Magnitogorsk Iron & Steel Works (MMK). Mittal’s move on Friday came after the value of its initial offer fell more than 10 percent behind the market worth of Arcelor, as the latter announced a buyback of its own shares at above-market prices to ward off Mittal Steel.

Laxminivas Mittal, who has hinted that the bitter takeover battle might have a hint of racism involved in it, told the French newspaper La Tribune that he was sure that the attractive nature of his revised offer would enable him to obtain over 50% of the Arcelor shares. He added that he was of the opinion that the involvement of a Russian third party would not be in the best interests of Arcelor’s shareholders.

Thursday, October 17, 2013

Both the United States House of Representatives and Senate agreed to a bill yesterday to end the government shutdown and to raise the debt limit of the federal government. President Barack Obama has signed the bill into law.

Workers employed by agencies of the US federal government who had previously been furloughed have returned to work. The law has funded the government until January 15 and has extended the debt ceiling until February 7. The law also establishes a bipartisan committee to look into drafting a long-term budget agreement. This committee is due to report back to Congress in December.

Republicans did not manage to extract any significant changes to Obama’s healthcare law, the Affordable Care Act. They had hoped to get the implementation of the law delayed by a year, but have instead provided that those wishing to sign up for healthcare benefits must provide proof of their income.

In a statement, the House Speaker, John Boehner, said the Republicans would continue to fight Obama’s healthcare law: “Our drive to stop the train wreck that is the president’s health care law will continue. We will rely on aggressive oversight that highlights the law’s massive flaws and smart, targeted strikes that split the legislative coalition the president has relied upon to force his health care law on the American people.”

The Democratic Leader in the House, Nancy Pelosi, said on Twitter: “The unnecessary shutdown America endured for 16 days has come to an end. Speaker finally did the right thing and allowed the House to vote.”

Thursday, March 2, 2006

Buffalo, New York —In an unanimous vote, the City of Buffalo‘s Planning Board voted to table the Elmwood Village hotel Proposal, postponing voting on legislation for up to 30 days.

The Board said its decision was due to the lack of public involvement, saying that there have not been enough meetings.

The Elmwood Village Hotel is a proposed project by Savarino Construction Services Corporation and was designed by Karl Frizlen of The Frizlen Group. The hotel would be placed on Elmwood and Forest Avenues in Buffalo, New York. In order for the hotel to be built, at least five buildings, that include both businesses and residents, must be demolished.

The Forever Elmwood Corp. is a Buffalo-based non-profit organization founded in 1994. Justin Azzarella, the Executive Director for the organization voiced support for the proposal, stating: “I am here today to lend Forever Elmwood’s support the hotel project. Particularly, Forever Elmwood is encouraged by the fact that this building follows the more stringent Elmwood Village Design Guidelines. We have been speaking with Savarino Construction, and they have promised us [Forever Elmwood] that they will engage the community further, including the surrounding Block Clubs and businesses. For that reason, while Forever Elmwood is in support of this project and the type of project that it is, we are asking also that the project be tabled so that the community can be further engaged. Specifically the surrounding Block clubs which include the Granger, Claremont, Asland and The Lincoln Parkway Block Clubs.”

“Because of the excellent work that Karl does and the game plan that they have, I think its an ideal use of this particular location. I think that this particular type of development needs to be encouraged and promoted as opposed to roadblocked,” said a man who owns five properties near the proposal site.

However, Evelyn Bencinich, a resident of Granger Place and whose house would be located directly behind the hotel said, “My property value will be depreciated or non-existent because no one is going to want to live behind a multi-story hotel. We are facing up to a year of noisy and dangerous demolition and construction. Children, pets and even drunk rebellers could wander on site and get hurt. Traffic tie-ups caused by large machinery and garbage bins is inevitable. Where will pedestrians walk? We could experience increased unsanitary flooding in our yards and basements due to the digging and cementing for the underground parking garage. Rats will be displaced into the immediate neighborhoods and be in great abundance. Once we get past the year of nightmare construction, what if you build it and they don’t come? We could ultimately have a seven million dollar rooming house on our corner.”

Patty Morris, co-owner of Don Apparel with Nancy Pollina at 1119 Elmwood also asked that the project be tabled saying, “this has only been public knowledge for less than two weeks and the public never saw the redesign. How can you vote on anything that no one has seen yet? The Board cut off Morris saying, “so specifically you don’t have any problem with it [the design] you just…” Morris then said, “Oh I am totally against this project, but thats besides the point isn’t it.”

The planning board is also concerned that the current design may still be too big.

At one point Board member Susan Curran Hoyt said, “we know you’ve cut down your number of rooms on this project, but we still see it doesn’t seem to fit the description of a ‘botique’ hotel,” and asked Eva Hassett, Vice President of Savarino Construction, “we wonder if you could reduce the rooms further.”

“One thing I didn’t talk about was the price levels of these rooms and that will be important to know. The room rate will be somewhere between US$120 and $160 a night, which is about the same price of the Hampton Inn down town and the smaller you make the hotel, the more expensive the rooms will get. We believe that we’ve made a good compromise in terms of the size of the hotel and perhaps botique means different things to different people,” said Hassett.

The board was also concerned that there is not enough parking asking, “are there alternative plans for valet parking off-site, in the event that you have a full hotel or a large event going on?”

“We are exploring several possibilities with respect to additional parking for valet and parking near-by,” replied Hassett. “We are also exploring the possibility of using the rear of 1105 Elmwood for additional parking, which would give us an additional ten or eleven spaces.”

The new design has a total of 55 parking spaces for 72 rooms, with 39 of them underground and the rest on ground level.

Hassett also said that a “parking study” will be done on the area.

Concerns that the second floor of the hotel will be too close to the property of 605 Forest were also brought up. The board asked how far the hotel would be from the property and Karl Frizlen replied saying it would “be approximately five feet from the property line,” but he also admitted that, “I do not know exactly how close the house next door” will be from the hotel, but did say “I think the house is about four or five feet away from the property line and we [the hotel] sit right on the property line.”

The board is concerned the setback from the property is not enough saying the space between the building and the hotel is “pretty narrow.”

The City’s Common Council also agreed to table the proposal also citing the need for more public engagement and the need for more organizations to respond including the Buffalo Preservation Board and the Office of Historic Preservation.

During that meeting, Hassett also said the proposal to try and get a variance to obtain the properties of 605 and 607 Forest were “now off the agenda.”

The Common Council is expected to meet and hold a public hearing about the project and the rezoning of the properties to be demolished (1119-1121 Elmwood) on Tuesday March 7, 2006 at 2:00 p.m. in Council Chambers at City Hall. At the moment the properties are not zoned for a hotel.

Saturday, June 23, 2007

Lydia Playfoot, a 16 year old schoolgirl from West Sussex, England, has been faced with expulsion by her school, Millais School of Horsham, for wearing a purity ring that symbolises her dedication to chastity.

Her case, that she should be allowed to wear the ring as it is an “expression of [her] faith and should be exempt from the school’s rules on wearing jewelery”, was taken to the High Court on Friday. Judgement in the case was reserved for a future date.

This case echoes a decision in a case last year. The Law Lords rejected Shabina Begum‘s, former pupil of Denbigh High School, in Luton, Bedfordshire, appeal to wear a Muslim Jilbab to school.

Miss Playfoot spoke to BBC Radio regarding the case. She said “Muslims are allowed to wear headscarves and other faiths can wear bangles and other types of jewellery. It feels like Christians are being discriminated against.” Her lawyers have argued that her right to wear the ring as a symbol of faith is upheld by the Human Rights Act 1998

Tuesday, June 23, 2009

At least nine people have been reported killed in a serious collision incident between two metro trains in Washington, D.C., United States.

The collision which occurred on the Red Line between Fort Totten and Takoma Park stations of the city’s Washington Metropolitan Area Transit Authority during the early evening (1700 local time) is also reported to have injured a number of other passengers. The fatalities include the operator of one of the trains. At 7:58 pm local time, two more fatalities were confirmed, resulting in a total of six deaths.

In a statement to media, Washington Mayor Adrian Fenty was quoted as saying “With the four confirmed fatalities, it is my preliminary understanding that this would be then the deadliest accident in the history of our Metro train transit system,” at a news conference following the incident.

The Metro’s general Manager John Catoe was also quoted as saying “We are extremely saddened that there are fatalities as a result of this accident, which has touched our Metro family. We hope to have more details about the casualties later today. Our safety officials are investigating, and will continue to investigate until we determine why this happened and what must be done to ensure it never happens again,”

The cause of the collision incident is still unclear, although it has been suggested by some sources that a derailment or head on collision may have led to the incident.