Author: Admin

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.

Friday, June 20, 2008

The third annual Taste of Taiwan Cuisine opened on Wednesday of June 18, 2008 and runs until June 21. Organized by Taiwan External Trade Development Council to promote the culinary culture of Taiwan, the tradeshow featured three main shows for food and food packaging industries: “Food Taipei”, “Foodtech Taipei”, and “Taipei Pack”.

Twenty-seven countries including United States, South Korea, Canada, Japan, Sri Lanka, Austria, Philippines, Chile, Malaysia, Spain, Fiji, Poland, and six nations from Africa, grouped their own national pavilions for sourcing and procurement. In addition, the Taiwan Pavilion featured sections on culture, product image, brand design, and agriculture verification in Food Taipei.

Industrial solutions including medical applications, packaging machines, food CNCs, and bar-code printers are showcased in the “Foodtech Taipei” and “Taipei Pack”. Seminars and forums from security, global marketing, and policies for food, machinery, and packaging industries are also held during show hours.

After the 3-in-1 show in Taipei, the Kaohsiung International Food Show will be scheduled for November.

Wednesday, May 21, 2008

At least two men in Sweden were arrested after security officials at the Oskarshamn Nuclear Power Plant discovered traces of an explosive material on a plastic bag. Oskarshamnsverkets Kraftgrupp OKG operates the plant, which is one of three nuclear power plants in Sweden.

Reports say that on the outside of a bag was Acetone peroxide, or TATP, primarily used as a high yield explosive, but is also an organic peroxide used in making chemicals for cleaning.

The unidentified men in their 40’s to 50’s, who were contractors and welders hired for doing work at the plant, were stopped as they entered the plant. Authorities were called to the scene along with the bomb squad, who sealed off parts of the plant when they detected the explosive material on a bag’s handle. Security detected the material in what is described by CNN as a “routine” security check. Police believe it was on one of the man’s hands when it rubbed off onto the bag, but no bomb was found after an extensive search. Both men have been charged with attempted sabotage and are still undergoing interrogation. Both face sentences of up to two years in prison.

Plant officials state that the plant has never received a threat “not in the past, not now, and we have no threat for the future,” said President of OKG, Lars Thuring. “The only thing that we have found is this trace of explosives in the bag.”

TATP is “very unstable, very sensitive to both friction and shocks,” said Swedish Defense Research Agency expert, Svante Karlsson. A small amount could cause serious damage to someone handling the material which is described as ‘Mother of Satan’. Would-be ‘shoe bomber’ Richard Reid used the substance in an attempt to blow up American Airlines flight 63 from Paris, France to Miami, Florida in 2001. The same substance was also used in the July 2005 bombings in London, England.

The plant’s reactors, where the men were scheduled to work, were turned off on May 11 for routine maintenance. The rest of the plant’s operations were not interrupted.

See the discussion page for instructions on adding schools to this list and for an alphabetically arranged listing of schools.

Due to the damage by Hurricane Katrina and subsequent flooding, a number of colleges and universities in the New Orleans metropolitan area will not be able to hold classes for the fall 2005 semester. It is estimated that 75,000 to 100,000 students have been displaced. [1]. In response, institutions across the United States and Canada are offering late registration for displaced students so that their academic progress is not unduly delayed. Some are offering free or reduced admission to displaced students. At some universities, especially state universities, this offer is limited to residents of the area.

Tuesday, April 20, 2021

Wikinews extended invitations by e-mail on March 23 to multiple candidates running in the Texas’ 6th congressional district special election of May 1 to fill a vacancy left upon the death of Republican congressman Ron Wright. Of them, the office of Democrat Daryl Eddings, Sr. agreed to answer some questions by phone March 30 about their campaigns and policies. The following is the interview with Ms Chatham on behalf of Mr Eddings, Sr.

Eddings is a federal law enforcement officer and senior non-commissioned officer in the US military. His experience as operations officer of an aviation unit in the California National Guard includes working in Los Angeles to control riots sparked by the O. J. Simpson murder case and the police handling of Rodney King, working with drug interdiction teams in Panama and Central America and fighting in the Middle East. He is the founder of Operation Battle Buddy, which has under his leadership kept in touch with over 20 thousand veterans and their families. He was born in California, but moved to Midlothian, Texas. He endeavours to bring “good government, not no government”. Campaign manager Faith Chatham spoke to Wikinews on matters ranging from healthcare to housing.

An Inside Elections poll published on March 18 shows Republican candidate Susan Wright, the widow of Ron Wright, is ahead by 21% followed by Democrat Jana Sanchez with 17% and Republican Jake Ellzey with 8% with a 4.6% margin of error among 450 likely voters. The district is considered “lean Republican” by Inside Elections and voted 51% in favour of Donald Trump in last year’s US presidential election. This is down from 54% for Trump in 2016’s presidential election, the same poll stated.

Wednesday, October 4, 2006

The US Army Corps of Engineers decision to place restrictions on issuance of nationwide pollution permits has been upheld by a federal court. In National Association of Home Builders v. Army Corps of Engineers, the District Court for the District of Columbia found that the Corps of Engineers had not acted in an “arbitrary” or “capricious” manner in changing the terms and conditions for issuance of a national pollution permit, including reducing the size of area into which pollutants may be discharged from 10 acres to 1 acre, raising the threshold for requiring additional permits from 1 acre to 1/10 acre,

A nationwide permit allows an organization to engage in certain industrial activities on a national basis (such as mining and construction), reducing the amount of paperwork and filings needed for otherwise minor environmental impacts, as opposed to an ordinary permit for a specific location which will engage in activities which generate water pollution.

Due to concerns over the amount of discharge taking place in waterways, the Corps of Engineers began in the 1980s to reduce the authority granted by nationwide permits and to bar use of the permits in certain ecologically sensitive areas.

Some industry groups, including the plaintiff in the above case, The National Association of Home Builders, sued the Corps of Engineers in 2000 over the change in an attempt to block its implementation. Environmental groups, including the Sierra Club, were given permission to intervene in the case in support of the actions of the Corps.

Environmental groups were pleased with the decision, but are concerned over other actions of the Bush Administration, such as the attempts to weaken provisions of the 2002 Clean Water Act to allow additional dumping of construction and mining waste into waterways as fill material.

Friday, February 17, 2006

Buffalo, New York —Savarino Construction Services Corp. has proposed a $7 million hotel project at the Forest and Elmwood Avenue intersection, according to The Buffalo News. The proposal calls for a 5-story, 45,000 square-foot 80-room hotel with underground parking for at least 50 vehicles, and 4,500 square-feet of retail space on the lower level.

Hans Mobius, the owner of the five properties to be purchased in the plan (1109 to 1121 Elmwood), reportedly signed a contract with Savarino to assemble the development.

“We saw a huge opportunity to bring something to the Elmwood Village that will make sense and bring a service that’s currently not available,” said Eva Hassett, vice president of Savarino. “Elmwood is such a wonderful place to eat, shop, walk and spend time. We believe this project will add to that vibrant environment.”

Some business owners in the area see it differently. Wikinews interviewed 2 of the 4 owners whose business’s would be demolished if the development goes through.

Nancy Pollina, of Don Apparel at 1119 Elmwood, who found out about the development only yesterday, said she is “utterly” against the proposal. Her apparel shop has stood at the same location for nearly 14 years. She has volunteered in the community, and helped create several gardens around bus shelters in the city, and served on Forever Elmwood Board for six years as head of Beautification. Patty Morris co-owns Don Apparel with Pollina.

“To say this is a good looking project, I want to say the emperor has no clothes. This [project] does not take into consideration the needs of the college students. I have been told by college students, these shops here, are the reason they leave the campus,” said Mrs. Pollina.

Buffalo State College is 500-feet from the intersection.

Michael Faust, the owner of Mondo Video said, “Well, I do not really want to get kicked out of here. The landlord was very open, and the deal he made with me when I moved in here was ‘the rent is cheap and I [the landlord] will not fix anything and that will not change.'” Faust said he first learned of the development plan, “about 48 hours ago. I found out on Tuesday when the Buffalo News called and asked for my opinion on this.” Faust has not said if he will make plans to relocate. “We have to see if this [house] is going to get knocked down first,” said Faust.

An “informational” meeting, where citizens can voice opinions and learn about the proposal, will be held on Tuesday February 21, 2006 at 5:00pm (eastern), at the Burchfield-Penney Art Center Gallery at Buffalo State College, Rockwell Hall.

Executive director of Forever Elmwood Corporation, Justin P. Azzarella would not comment on whether or not the organization supports the development, saying, “you will just have to come to the meeting.”

Forever Elmwood Corp. is designed to preserve and protect the unique and historic nature of Elmwood Avenue and its surrounding neighborhoods and encourage neighborhood commercial revitalization. The organization was founded in 1994.

Nearly two years ago, the Forever Elmwood Corp. assisted in the blocking of the demolition of the Edward Atwater house at 1089 Elmwood next to Pano’s Restaurant which is at 1081 Elmwood. Owner Pano Georgiadis wanted to expand his restaurant onto the property where the house now stands, but the Common Council denied his permit to demolish saying the house is a historical landmark and needs to be protected. Georgiadis, who has a bleeding ulcer, said that all the court cases landed him in the hospital. “I got a bleeding ulcer, and since then, I don’t care about this house anymore, or this city. I just go to work every day. I think [preservationists] are parasites,” said Georgiadis.

Georgiadis will not be attending Tuesday’s meeting saying, “I will be out of town.”

In 1995 Hans Mobius proposed a plan to develop a Walgreens, that was to be placed in the same location, but residents and business owners shot down the proposal. Walgreens eventually withdrew its request for a variance after pressure from the community.

Thursday, July 6, 2006

Canadian Prime Minister Stephen Harper met with President George W. Bush at the White House today. The meeting was a short one and focused primarily on global security, particularly bilateral security issues addressing the two countries.

One of the larger issues was the pending U.S. law that would require everyone crossing the Canada-U.S. border to have a passport or a special identification card. Prime Minister Harper said; “if the fight for security ends up meaning that the United States becomes more closed to its friends, then the terrorists have won,” as part of his appeal that Congress delay or reject the proposed border law. [1].

Prime Minister Harper brought birthday greetings and a surprise gift. But Bush found out about it during the press conference in the East Room. A Canadian reporter had allegedly blew the secret. [2].