Monday, December 3, 2007

The caretaker prime minister of Belgium, Guy Verhofstadt, reappeared on the political stage today as he accepted the royal request to suggest solutions to the ongoing federal government formation talks.

Recollecting his statement to the press on June 10, 2007, when he recognised his electoral loss and the victory of his opponent Yves Leterme, he told reporters today that he “hadn’t thought nor hoped to face you once more, but the King has asked me to inform him on a short term about possible strategies to deal with the political stalemate in which we have ended up over the last few months.”

Indeed, after 177 days, the country’s political parties have still found no compromise on the roles of the French- and Dutch-language community. Two days ago, Leterme returned to King Albert II to tender his resignation as leader of the formation talks.

The incumbent PM said he would discretely contact the leaders of all democratic parties during the next few days. He said his starting point would be dual: the country needs a considerable reform of its federal status, and there are certain urgent problems that outrange the capacities of the caretaker government dealing with the ongoing affairs.

Verhofstadt called for all involved to take responsibility, in the interest of the country and its citizens.

Friday, December 19, 2008

Camera company Polaroid has filed for Chapter 11 bankruptcy protection in the United States. The firm, famed for the introduction of instant photography, says alleged fraud by the founder of their parent group is to blame.

Owned since 2005 by Petters Group Worldwide, Polaroid says that the group’s founder Tom Petters is “under investigation for alleged acts of fraud that have compromised the financial condition of Polaroid.” Authorities believe Petter, currently in police custody, was running fraud worth £3 billion, something he denies.

Petters Group, itself, filed for bankruptcy in October. Both firms now face restructuring, which Polaroid is confident won’t affect daily operations — in fact, the company is “planning for new product launches in 2009,” and claims to have “entered bankruptcy with ample cash reserves sufficient to finance the company’s reorganization under Chapter 11.”

Polaroid has further said that employees will be paid without interruption, and that while members of Petters Group are under investigation for fraud, Polaroid’s management is not. The company, based in Minnesota, also has subsidiaries which will enter bankruptcy with it.

Friday, April 7, 2006Legislators in the Massachusetts General Court, their name for the state legislature, approved legislation on Tuesday, April 4, that would make it the first state in the United States to require all residents to have health insurance and impose penalties for non-compliance. Massachusetts Governor Mitt Romney, a Republican who is expected to run for U.S. President in 2008, is expected to sign the bill.

The bill passed the lower house, the Massachusetts House of Representatives by a vote of 155-2, and unanimously by the state senate. The Democratic Party holds supermajorities in both houses of the legislature.

Among the bill’s provisions are these:

1. Businesses that employ more than 10 people are required to provide health insurance for all staff or face fines of $295 per year per uninsured worker.
2. Individuals will be required to enroll in a health plan by July 1, 2007, or face tax penalties.
3. Health insurers will provide partially to fully subsidized coverage for low-income residents.

At least one other state (Hawaii) requires employers to provide employee health insurance, but no other state holds individuals accountable for coverage.

[edit]

Tuesday, January 2, 2007

A 21-year-old New Zealander, who has not been named, was sexually assaulted by another man early yesterday morning (NZDT) in Wellington, New Zealand. The New Zealand police have described the sexual attack as “prolonged and terrifying”.

The man was first threatened with a weapon at a shopping center located in Riddiford Street, Newtown, Wellington and was then forced into a dark and isolated carpark where the sexual attack occurred.

Detective Sergeant Zane Smith, said that they have been given a very good description of the attacker and with that description have released an identikit picture. The attacker is a male M?ori aged between mid-20s and early 30s, measures around 1.8 metres and has a solid build. The most identifiable feature is a M?ori tattoo located on his chin. The attacker was also wearing a ‘50 Cent‘ green hooded top, faded black baggy jeans and was wearing sneakers coloured red and white.

The attacker has still not been found and police are asking for anyone who may have been in the Riddiford Street shopping centre between 2:00 a.m. and 3:30 a.m.

CCTV (closed-circuit television) cameras are being examined.

Sunday, December 4, 2005

These are short blurbs about current events in the business world.