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Monday, September 7, 2015

The US economy added 173,000 jobs in August, the Bureau of Labor Statistics reported on Friday. The unemployment rate fell from 5.3 to 5.1 percent, the lowest since April 2008.

Although August job gains were lower than most economists forecast, job growth numbers for June and July were revised upwards by a combined 44,000. Average job gains over the past three months stand at 221,000, compared to March-May’s 189,000 monthly average. Over the past twelve months, job growth has averaged 247,000 per month.

Average hourly earnings rose 0.3 percent, or 8 cents, marking the largest increase in earnings in seven months. Hourly earnings had risen by 6 cents in July. Wages have risen by 2.2 percent over the past year.

Job growth in August was primarily concentrated in the health care and social assistance, financial activities, and professional and business services sectors. Those three areas of the economy added a combined 108,000 jobs. Food service and drinking places employment increased by 26,000 over the month, and other economic sectors saw employment hold steady. Manufacturing, on the other hand, saw employment decline by 17,000 in August. A stronger dollar and worldwide economic weakness make US exports less desirable, leading to a flattening in manufacturing employment so far this year after steadily rising in the early years of the US economic recovery.

The solid overall job gains led analysts to slightly raise expectations for a decision by the Federal Reserve to raise interest rates this month. Investors raised the likelihood of a September rate increase from 26 percent before the jobs report to 30 percent, and stocks dropped by over one percent on Friday. “The payrolls data is certainly good enough to allow for a Fed rate hike in September,” said Deutsche Bank’s head of currency strategy, Alan Ruskin. “The big question is still whether financial market volatility will scupper the plans.”

“This is the first time the market has looked at a Fed meeting and really has no idea what the Fed is going to do,” said Mark Kepner, a New Jersey equity trader with Themis Trading. “Right now you’re looking at the overall uncertainty and that’s what’s hanging on the market. I don’t think this number in and of itself changes how somebody’s going to vote.”

Wednesday, October 21, 2009

Kapil Sibal, India’s Minister of Human Resource Development (HRD) held a meeting Monday to present his reform plans for the Indian Institutes of Technology (IIT) sector by increasing the entrance percentage to 80% and above in the class XII (final year) board exams. A three-member committee was set up to review the proposal.

Sibal said, “The present criteria is that students need to secure 60% in class XII for appearing in IIT-JEE. This is not acceptable”, pointing out that the current criteria where students getting more than 60% in the board exam of the twelfth class are eligible for IIT-JEE is not good enough and that it has to be raised to 80-85%.

He also stated that students undervalue final year board exams, preparing instead for the Indian Institute of Technology Joint Entrance Examination (IIT-JEE); they enrol in coaching institutes and concentrate on their study material in order to enter IIT. He wants to abolish these “teaching shops.”

The meeting decided that they would set up two committees, one headed by Anil Kakodkar, Atomic Energy Commission (Chairman) and other by T. Ramasamy, Department of Science and Technology (Secretary). The first committee is scheduled to decide final year board percentage and the second one is scheduled to set the curriculum.

The Kakodkar committee also plans to decide how to abolish coaching institutes and how to move IIT field forward with a greater emphasis on research. The committee is expected to submit its report in the next six months. The minister also clarified that some of these will be implemented from the 2010 academic year and some from 2011.

The meeting was also expected to reduce the fee for African and South Asian Association for Regional Cooperation (SAARC) countries as their fees are higher than those of Indians. The review committee says that people of other countries are tempted to study in India but they refrain due to high fees. The Ramasamy committee is expected to submit its report in the next three months.

Lastly, the meeting said that it will appoint board members and directors on the basis of nominations and independent rank and power to ensure IIT’s activity.

Monday, March 10, 2008

According to a report by The New York Times (The Times), New York Governor Eliot Spitzer informed his senior administration officials on Monday that he was being investigated for using a “high-class” prostitution ring. The Times report cites anonymous officials who work for Spitzer. A law enforcement official who spoke to Associated Press on condition of anonymity stated that a federal wiretap related to a recent investigation revealed that Spitzer paid for prostitutes from an online service under investigation.

ABC News reported that, according to federal officials, the federal investigation into the prostitution ring was initially motivated by money transfers which led agents to believe Governor Spitzer was hiding bribes. Sources familiar with the case spoke to The Washington Post and CNN, and said that Spitzer is identified as “Client 9” in court documents and on a federal wiretap.

In a brief press conference held Monday afternoon, Spitzer apologized to his family and to the public, but did not directly admit or deny involvement in the prostitution ring. “I apologize first and most importantly to my family. I apologize to the public, to whom I promised better. I must now dedicate some time to rededicate my trust to my family,” he said, adding that he “acted in a way that violates his obligation to his family.”

Spitzer did not answer questions from reporters, indicating he would have more to say “in short order.” He did not admit or deny any allegations.

The Times’ report alleges that Gov. Spitzer was a client of the Emperors Club VIP, a high-priced international prostitution ring. Last week, federal investigators arrested four people involved with the operation in and around New York. The investigation utilized undercover work and wiretap recordings at various club locations, including New York and Washington, with the latter allegedly containing Spitzer’s voice.

Reports indicate the governor learned on Friday, March 7, of federal investigators’ discovery of his alleged involvement in the prostitution ring. He informed his top aides on Sunday night before meeting with the rest of his staff Monday, according to The Times. Sources for the Fox News Channel and WCBS-TV in New York report Spitzer could resign and be indicted, in which case the Lieutenant Governor of New York, David Paterson, would become governor.

James Tedisco, the New York State Assembly Republican Minority Leader, says Spitzer should resign and state Republican leadership will initiate impeachment proceedings if the governor fails to step down. “Today’s news that Eliot Spitzer was likely involved with a prostitution ring and his refusal to deny it leads to one inescapable conclusion: he has disgraced his office and the entire state of New York. He should resign his office immediately,” stated Tedisco.

Wednesday, August 5, 2015

U.S. Republican Party presidential candidate Mark Everson, former commissioner of the Internal Revenue Service (IRS), filed a complaint on Monday with the Federal Election Commission (FEC) to challenge his exclusion from Thursday’s first Fox News Republican Party presidential debate. Everson argues his exclusion violates Title 11 of the U.S. Code of Federal Regulations in that debate hosts must not “structure the debates to promote or advance one candidate over another”, and must “use pre-established objective criteria to determine which candidates may participate in a debate.”

Everson served as Commissioner of the IRS from 2003 to 2007, during the George W. Bush administration. After his departure, he briefly served as CEO of the American Red Cross, worked in the cabinet of Indiana governor Mitch Daniels, and worked for the tax consulting firm alliantgroup. He announced his candidacy this past March with a sixteen-page open letter in which he outlined the six pillars of his campaign: amnesty for illegal immigrants, reinstatement of the military draft, a promise to serve only a single presidential term, and calls for tax reform, deficit reduction, and corporate responsibility.

Fox News claims Everson fails to meet the criteria it established for Thursday’s two debates. Only seventeen candidates meet the criteria, which require a candidate “consistently” be included in “recognized” opinion polls. The prime-time event features the top ten candidates by average polling percentage. The other seven participate in a separate debate just before the prime time event.

In his complaint, Everson urges the FEC to compel Fox News to include him in the second tier debate as the eighth participant.

Everson argues Fox News, in violation of Title 11, “structure[d] the debates to promote or advance one candidate over another” through a July 27 change to its criteria that replaced a pre-existing one percent polling threshold with a threshold admitting those “consistently” included in “recognized” polls. He alleges this was done to ensure the inclusion of the low-polling candidates former Hewlett-Packard CEO Carly Fiorina, former New York governor George Pataki, Senator Lindsey Graham, and former Virginia governor Jim Gilmore, because Fox News recognizes these candidates as “major players.”

Furthermore, Everson argues the Fox News criteria are not “objective,” as Title 11 requires, because they fail to define the terms “consistently” and “recognized” when referring to polls. He asserts he was included in the Republican Party’s online straw poll in May and is the only candidate still listed on that poll who has been excluded from Thursday’s debate.

Election law expert Richard Winger, publisher of Ballot Access News, says Everson is “completely correct” in his challenge. However, he believes Everson only has a chance of success if he actually files a lawsuit rather than simply complaining to the FEC.

Wednesday, August 29, 2007

An English lawyer has pleaded guilty to perverting the course of justice. He faked a legal judgment and sent it to a father who was pleading in Taunton family court to be able to remain involved in his child’s upbringing. The lawyer, London barrister Bruce Hyman, now awaits his sentence. The judge indicated that he could receive a prison sentence. Bruce Hyman is well-known in media circles, having produced The Hitchhiker’s Guide to the Galaxy on BBC Radio. He also produced a series with Clive Anderson, at Above the Title Productions, called Unreliable Evidence.

The father, a former City financier, had attended a series of court hearings in order to make suitable arrangements to see his child following an acrimonious divorce. Shortly before one of these hearings he received an email, ostensibly from a self-help group to which he belonged, which had attached a Court of Appeal case that appeared favourable to an application he had made for the judge to stand down from the case. The father, who was representing himself, duly showed the case to the judge. At this point, Bruce Hyman, the lawyer representing the former wife, claimed to the judge that the case was a forgery, which indeed it turned out to be.

After confirming that the self-help group had not sent him the email, the father then embarked on some detective work his own. The fraudulent email was traced via its header to a dial-up internet connection and a phone number belonging to a shop in London. The shop was able to recover CCTV footage which showed a man sending the email from an Apple laptop. The man turned out to be Bruce Hyman.

Sentencing of Hyman is due in Bristol Crown Court on the 19th of September.

Friday, February 6, 2009

Denny’s 1,600 chain restaurants across North America, Puerto Rico and Canada, were slammed for eight hours Tuesday with hungry patrons standing on sidewalks for nearly two hours to take advantage of the $5.99 “Grand Slam Breakfast” giveaway.

Denny’s, a dining chain with annual revenue of about $900 million, has advertised in a TV commercial Sunday during the Super Bowl XLIII that it would give away its signature breakfast from 6 a.m. until 2 p.m. local time Tuesday, at all its restaurants in the U.S., Canada and Puerto Rico, while supplies lasted.

Denny’s Diner has promoted the iconic dish giveaway heavily, with a bold 30-second appeal ad that aired during the third quarter of the Super Bowl 43 on Sunday, plus another 15-second ad during the post-game show, offering a free breakfast to some 90 million viewers. In addition, it has placed a full-page ad in USA Today‘s Monday edition. The promotion was further announced on The Today Show and notices were also sent out to the chain’s “Denny’s Breakfast Club” members.

The NBC ad, which was bought to unveil a new promotion for customers squeezed by the recession, may have cost as much as $3 million, said Nelson Marchioli, CEO of Denny’s Corp. Super Bowl XLIII’s 30-second commercial time slot costs $2.4 million–$3 million for the airtime alone, excluding production and talent costs.

The game was televised live by the US NBC Sunday Night Football and Canada’s CTV Television Network. BayTSP has reported that, “as of 10 a.m. Wednesday, commercials that initially aired during NBC’s Super Bowl XLIII broadcast subsequently had been watched online more than 28 million times.”

“The promotion has a total cost of $5 million U.S., which includes $3 million for the commercial on NBC,” said a Denny’s spokesman, noting also that the company received about $50 million in news coverage, most of which was positive. According to a Denny’s representative, two million people walked through the restaurant chains’ doors Tuesday, and each Denny’s restaurant served an average of 130 Grand Slams per hour.

With the “Denny’s Feeds America” promotion, the company has reported 14 million hits on its Web site between Sunday night and Monday morning. Denny’s shares rose 6 cents, or 3.1 percent, to $1.98 in afternoon trading. The stock has traded in a range of $1.18 to $4.10 over the past 52 weeks.

“Denny’s free Grand Slam” has ranked in the top 10 Google searches early Tuesday and fell to No. 18 by the end of the promotion, while “denny s locations” was #9 on Google Trends, which tracks fast-rising searches. It has also held spots No. 1 (Denny’s) and 7 (Grand Slam) on Twitter‘s trending topics. It has generated much chat on Twitter, garnering 1,700 tweets on Tuesday, compared with its average of 59. Doritos, winner of the USA TODAY survey for best Super Bowl spot ad, had 933 mentions after reaching a peak of almost 3,300.

The idea of the TV ad was to get people to come in and re-evaluate Denny’s Diner. “A lot of people have forgotten what Denny’s is, or they think they know, while we’ve come out with a whole lot of new products. We felt like we needed to jump start the brand,” Denny’s Chief Marketing and Innovation Officer Mark Chmiel said.

“We’re celebrating the Grand Slam this year,” Chmiel said. According to the company’s financial data, on January 15 Denny’s reported systemwide comparable-store sales for the fourth quarter were down 6.1 percent, compared to a 0.2 percent decline from the same period in 2007.

According to Robert Gonzalez, public relations company Hill & Knowlton spokesman, Denny’s has expected at least 2 million people to eat a free Grand Slam by the end of the promotion. “Every restaurant is packed with people and lines,” Gonzalez said. “Everything today is about fast. People are on the go, and they’re eating fast food. It’s cutting into sit-down dining,” he added.

“Each of the more than 1,500 Denny’s were planning to make about 100 Grand Slams an hour,” Denny’s spokeswoman Cori Rice said. It had predicted it will have served about 1,400 people per location, more than five times the normal volume. “Grand Slam Breakfast” is a four-item option on its menu, consisting of two pancakes, two eggs, two strips of bacon and two sausage links. It weighs in at 44 grams of fat, 56 carbohydrates and 770 calories.

Nationwide, Denny’s expected to sell about 2 million Grand Slams — about 15 percent of the annual tally. According to Mark Chmiel, chief marketing operator and executive vice president, the diner chain has reported approximately 2 million meals worth more than $12 million were given away nationwide and each Denny’s restaurant served an average of 130 Grand Slams per hour. It estimated it has earned about $50 million worth of public relations following the free Grand Slam campaign, Chmiel said.

The company is also experimenting with a Grand Slam Burrito and also has introduced for this year, a Grand Slamwich, which includes eggs, bacon, sausage and cheese between two slices of bread, with a teaspoon serving. “It already has shown strong consumer appeal,” said Chmiel. The company has received flood of e-mails and letters proving the positive impact of the Grand Slam campaign and commercials on its customers.

Chmiel also announced he’s planning a third major promotion in this year’s third quarter, which happens to include another major sporting event, the World Series. “That’s one we’re definitely looking at,” he said.

Jobless Paris Winslow of downtown San Francisco, California has joined the long line which stretched from the front door on Mission Street, between Fourth and Fifth streets, to the corner of Fourth and up the block. “The economy is getting kind of scary. This line looks like those pictures of soup kitchen lines during the 1929 Great Depression,” Winslow said.

“I came all the way from San Francisco for a free $6 meal, Isn’t that pathetic? A year ago, I never would have done this. These days I’m willing to put my ego on the back burner,” said Stephen Weller, a jobless contractor who waited with his dog, Emmett. California Denny’s restaurant managers have issued rain checks (for free chilled meals, as security backed by actual bacon) to anyone who failed to get in by the 2 p.m. deadline.

A big eater could also “Slam It Up” by adding any two additional items for 99 cents each to their meal. Customers on Tuesday were also handed “bounceback” coupon books that include offers for additional free menu items with purchases. Chicago Tribune reporter Kevin Pang has eaten five free Grand Slams on Tuesday at five different Denny’s Diners in four hours. He claims to have consumed 4,100 calories at Harwood Heights, 5:36 a.m, at Schiller Park, 6:22 a.m., at Franklin Park, 7:08 a.m., at Melrose Park, 7:41 a.m. and at Grand Slam No. 5 Oak Park, 8:57 a.m.

“The Grand Slam has always been a Denny’s favorite. This free offer is our way of reacquainting America with Denny’s real breakfast and with the Denny’s brand,” Denny’s CEO Nelson Marchioli said in a statement. In 1977s, the Grand Slam started as a baseball-related promotion in Atlanta, Georgia. Its normal price averages around $5.99. Marchioli said the event was also a way to kick-off its “Year of the Grand Slam” promotion. Denny’s claimed it has sold 12.5 million Grand Slams a year.

“The economy’s tough and people are jumping all the way to fast food to try to figure it out. We all use fast food, whether it’s for time or convenience or for money. But you can go to Denny’s and you don’t have to give up a real breakfast and that was the whole focus of our commercial,” Marchioli explained. McDonald’s (MCD, Fortune 500) has done well during this economic meltdown since the global recession pushes people toward less expensive dining options.

McDonald’s has announced plans Wednesday to open 175 new restaurants in China this year despite the global economic crisis, thereby increasing the number of outlets in China by 17 percent, from 1,050 currently. Last month, McDonald’s 2008 net profit has risen 80 percent from 2007 to 4.3 billion dollars.

Marchioli has also introduced Denny’s $4 Weekday Express Slam, which is a streamlined version of the Grand Slam. “I want to take back share. For too long, we have allowed others to take share, whether it was Starbucks or McDonald’s. They’re fine competitors and I don’t expect to take all their business from them, but I’d like a little bit back,” Marchioli noted.

According to Rafi Mohammed, author of “The Art of Pricing,” people love free. “It triggers a Pavlovian response in people,” said Mohammed. If Pavlov’s dogs salivate when a bell rings, Denny’s free Grand Slam breakfast has attracted 2 million hungry customers. “I believe free maximizes trial and doesn’t devalue a product as long as it is a rare event. Aside from the cost, the major downside is that it attracts customers who truly have no intention of coming back,” he added.

According to University of Portland consumer psychology professor Deana Julka, people flock to free promotions amid just a few dollars saving because there’s nothing in life for free. “So when there’s something out there that costs nothing, it creates a psychological rush. Especially in these times when people feel overtaxed or overburden, there’s an internal reward people feel by getting something for free,” she said. “It’s being thrifty and feeling like you beat the system. Free really hits the spot for a lot of people,” Julka added.

“Free is an emotional hot button. When free is concerned, there is no downside – or, at least, we don’t see the downside immediately. So we overvalue everything that is free. People love free stuff, particularly when money’s tight,” said Dan Ariely, a business professor at Duke University, author of “Predictably Irrational: The Hidden Forces That Shape Our Decisions.”

Experts, however, explained these moves need to be done sparingly, since giveaways can teeter in the balance between desperation and a well designed marketing ploy. “Giving your product away for free is not worth it because it undermines your brand value,” said branding expert Rob Frankel, saying people are attached to the idea of it being free, than the actual product itself.

Free giveaways are not anything new in the food industry. “It just feels good when you can get something for free and not have to worry about it coming out of your wallet,” Frankel noted. Dunkin’ Donuts and Panera Bread all have had free coffee and food promos last year. “In November, Starbucks gave away free cup of coffee to anyone who came in on Election Day. Have you taken a look at how Starbucks is doing now?” Last week it has announced it would shut down 300 stores, in addition to the 600 it already planned to close.

On February 24, IHOP will be offering a free shortstack to every customer to encourage donations (in place of the cost) for Childrens Miracle Network. The International House of Pancakes (IHOP) is a United States-based restaurant chain that specializes in breakfast foods and is owned by DineEquity. The chain had more than 1950 restaurants in all 50 states, the U.S. Virgin Islands, Canada and Mexico. Since 2006, IHOP’s National Pancake Day celebration has raised over $1.85 million. In 2008, over 1.5 million pancakes (12 miles high if they were stacked) were given to customers for donations.

Denny’s (“Denny’s Diner”) is a full-service diner/family restaurant chain in the United States. It operates over 2,500 restaurants in the United States (including Puerto Rico), Canada, Curaçao, Costa Rica, El Salvador, Jamaica, Japan, Mexico, and New Zealand). The resto chain is known for always being open, serving breakfast, lunch, dinner, and dessert around the clock.

Today, Denny’s operates about 1,600 restaurants in all 50 U.S. states, Canada and Mexico. There are also about 578 Denny’s restaurants in Japan operated under a license by a subsidiary of Seven & I Holdings, seven Denny’s locations in New Zealand, and approximately 38 Denny’s diners in the United States. Denny’s headquarters is now located in Spartanburg, South Carolina, headquarters of the parent company Trans World Corporation that acquired Denny’s in 1987.

Denny’s was historically notable for offering a free meal to anyone on their birthday. The offer included a limited number of meal options from a special birthday menu. The promotional ritual ceased in 1993, though occasionally individual franchises will continue the tradition.

In 2008, Denny’s has ceased to be in the ranks among the top diner chains in the $83 billion breakfast market, whose top five firms — McDonald’s, Starbucks, Dunkin’ Donuts, Burger King and IHOP — accounted for 22 percent of the volume. “A lot of consumers have written Denny’s off their let’s-go-there list,” said Ron Paul, president of Technomic, a consulting firm.

Super Bowl XLIII was an American football game between the American Football Conference champion Pittsburgh Steelers (15–4) and the National Football Conference champion Arizona Cardinals (12–8) to decide the National Football League (NFL) champion for the 2008 NFL season. It was played on February 1, 2009, at Raymond James Stadiumin Tampa, Florida. It has an attendance of 70,774 and 98.7 million viewers. Pittsburgh earned its sixth Super Bowl win, thus securing sole possession of the record for most Super Bowl wins.

Thursday, December 1, 2005

Surgeons in France have performed a face transplant operation on a French woman who had lost her nose, lips and chin after being savaged by a dog. According to Iain Hutchison, an oral-facial surgeon at Barts and the London Hospital, the transplant is the first one to use skin from another person.

Doctors say the woman’s new face will be a “hybrid” between her donor’s face and her own face before the attack. In the five hour long operation, the donor’s tissues, muscles, arteries and veins were attached to the patient’s lower face. It is more favourable to use skin from another person’s face instead of skin from another part of the patient’s body, as the texture and colour of the skin are more likely to match.

A statement released by the hospital in Amiens said that the 38-year-old patient, who wishes to remain anonymous, has not been able to eat or speak properly since the attack in May this year. The woman was reportedly in “excellent general health” and her graft looked normal.

Ethical concerns, psychological impact, concerns 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 Hutchison 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.”