Thursday, March 17, 2005

A letter and motion to be debated by Italian Parliament this week calls for action to address speculative bubbles and potential future financial crashes in the global economy. The motion asks for a global summit similar to the 1944 Bretton Woods United Nations Monetary and Financial Conference, which gave us the IMF and World Bank.

The letter raises questions about the sustainability of current financial trends, based on the highly speculative nature of today’s markets. For example, according to the letter, “It is estimated that the entire financial bubble, counting all financial derivatives and all other forms of existing debt, is equal to about $400 trillion, compared to a worldwide GDP of slightly more than $40 trillion”.

Last years collapse of Italian dairy company Parmalat, with “14.3 billion euros that must still be accounted for”, is given as evidence for “a lack of effective tools and controls regarding financial operations”. Enron, which famously collapsed in November 2001 revealing faudulent accounting practices from previously respected accounting firm Arthur Andersen, is given as another example.

Oddly, the largest collapse on record, that of WorldCom, is not mentioned, though the set of examples is not purported to be exhaustive. A number of other crashes are mentioned: the LTCM fund, Argentine bonds, Cirio, and Finmatica.

The motion, linked to supporters of the Lyndon LaRouche movement, is signed by Parliamentarians Lettieri, Soro, Delbono, Tolotti, Widmann, Villani Miglietta, Rosato, Albertini, Morgando, Diana, Luigi Pepe, Damiani, Ostillio, De Brasi, Maccanico, Carbonella, Paola Mariani, Grandi, Pistone, Giovanni Bianchi, Giacco, Benvenuto, Piscitello, Camo, Realacci, Squeglia, Rocchi, Iannuzzi, Intini, Meduri, Santino Adamo Loddo, Boccia, Villari, Chianale, Siniscalchi, Sandi, Cusumano, Cennamo, Annunziata, Rotundo, Bonito, Buemi, Pennacchi, Fanfani, Tarantino, Rodeghiero, Angioni, Detomas, and Nesi.

Debate was scheduled for March 14-18.

Tuesday, May 31, 2005

One thousand residents of the Defense Department-managed Armed Forces Retirement Home in Washington, D.C. filed a class-action lawsuit on May 24, asserting that the cut-backs in medical and dental services imposed by Secretary of Defense Donald Rumsfeld are illegal. The operating budget for the home was reduced from $63 million in 2004 to $58 million for 2005. The residents cite cuts in on-site X-ray, electrocardiogram, physical and dental services, and the closing of the home’s main clinic and an on-site pharmacy.

Chief Financial Officer Steve McManus responded that the changes not only save money but also achieved improved efficiencies. “We’re really trying to improve the benefits to our residents,” he said.

Most of the home’s costs are paid for by a trust fund and monthly fees paid by residents. By law, the Armed Forces Retirement Homes are required to fund, “on-site primary care, medical care and a continuum of long-term care services.”

Friday, March 13, 2009

A team of archaeologists excavating an Ancient Egyptian tomb have discovered golden jewelry in a recently-discovered lower chamber at the Valley of the Kings burial site in Luxor, Egypt.

Two golden rings and five golden earrings were found in the tomb of Djehuty, an 18th-dynasty official of Queen Hatshepsut, and were probably the property of Djehuty or his family.

The discovery was announced by Farouk Hosni, Egypt’s current Minister of Culture.

Djehuty was overseer of the treasury and overseer of works for the Queen. Hatshepsut reigned approximately 1479–1458 BCE. Djehuty was responsible for managing the huge amounts of precious goods brought in from Egypt’s military expedition to Punt in the Horn of Africa and the vast building projects of Hatshepsut which have made the female pharaoh one of the most-remembered of any from ancient Egypt.

Djehuty died after Hatshepsut did, sometime during the reign of Thutmosis III. Both Hatshepsut’s and Thutmosis’s names are recorded on the tomb. In a fashion typical of ancient Egyptian rivalries, Hatshepsut’s name was partly obscured on the monument over the tomb sometime after the queen’s death.

The team, led by José Manuel Galán of the National Research Center (Consejo Superior de Investigaciones Científicas, CSIC), in Madrid, Spain, had been excavating the tomb, designated TT11 and located in the necropolis of Dra’ Abu el-Naga’, since 2002. While much of Djehuty’s funerary equipment was lost to fire in antiquity, the lower chamber of his tomb was concealed at the end of a three-meter shaft and discovered at the end of 2008.

A superficial description of the tomb itself was recorded almost two hundred years ago by 19th-century French Egyptologist Jean-François Champollion, rubble blocking the entrance hindered excavation until the 21st century. In that time, emphasis in Egyptology has changed from the cataloging of treasures to the investigation of ancient culture, life and religion.

Since excavation began, Djehuty’s tomb has yielded a number of surprises. It was discovered that the tomb was re-used repeatedly up to and during the Greco-Roman period. There is an unusual face-on depiction of pharaoh Thutmosis III hunting ducks, and the mummy of a young, bejewelled, as-yet unidentified woman.

In 2007, 44 preserved bunches of flowers thought to be from Djehuty’s funeral were found in the site. In their 8th season of excavation, which ended on February 22, 2009, the team also found considerable evidence that below Djehuty’s tomb is a network of burial sites from the 11th dynasty, four thousand years old.

The lower chamber also displays passages from the Egyptian funerary text the Book of the Dead on its walls and a colorful mural of the goddess Nut, an embodiment of the heavens, on the ceiling. The names of Djehuty and his parents were also intact in the second chamber; the names were defaced in the previously-known first chamber of the tomb, which had also been looted.

According to a press release from Dr. Zahi Hawass, Secretary General of Egypt’s Supreme Council of Antiquities, Djehuty’s tomb is only the fifth known decorated burial chamber of the 18th dynasty. An additional unusual feature of the tomb is that its upper chamber is decorated in relief, rather than simply paint. When the excavation is completed, Dr Galán’s team plans to open the site to the public as the carved stoneworks will not be destroyed by tourists’ activities as paint would.

The identification of Djehuty is a complicated one, as a number of officials of the 18th dynasty bore the name, including a general and several governors. The name itself is an alternate transliteration of the name of the Egyptian god usually written in English as Thoth.

Wednesday, February 6, 2008

Wikinews held an exclusive interview with Wayne Allyn Root, one of the candidates for the Libertarian Party nomination for the 2008 U.S. presidential election.

Root is the founder and chairman of Winning Edge International Inc., a sports handicapping company based in Las Vegas, Nevada. In addition, he is an author and a television producer, as well as an on-screen personality both as host and guest on several talk shows.

Root, a long-time Republican, declared his candidacy for the Libertarian Party on May 4, 2007.

He says he is concerned about the qualities of many who run for president, and fears that they do not know the needs of American citizens. He also says that they cater to big businesses instead of small ones.

He has goals of limiting the federal government and believes that the US went into Iraq for wrong reasons. A strong supporter of the War on Terror, he feels that it was mishandled. He has conservative values and came from a blue collar family in New York. He graduated from Columbia University with fellow presidential hopeful Barack Obama in 1983.

Root believes that America is in trouble and hopes to change that if elected.

Wednesday, January 10, 2007

Apple Inc. today has introduced the much-anticipated iPhone at the Macworld Conference in San Francisco.

The iPhone is claimed to be “a revolutionary mobile phone” as stated on the Apple website. The device appears to be running a mobile version of the Apple operating system Mac OSX. It is approximately the same size as a 5th generation iPod, it has a 3.5-inch LCD touchscreen display that is used to access all features of the phone including number dial, as well as making phone calls. The iPhone plays music, movies, displays pictures and is able to connect to a wireless network.

Apple CEO Steve Jobs unveiled the device by walking onto the stage and taking the iPhone out of his jeans pocket. During his 2 hour speech he stated that “Today Apple is going to reinvent the phone, We are going to make history today”.

Today Apple also released their Media Center device – Apple TV. It will directly compete with Microsoft’s Media Center operating system. Apple has taken a different approach to the media center market; rather than storing content (such as movies, music and photos) on the device, Apple TV connects to a computer (Mac and Windows) over a wirless network connection and plays all content stored on that computer. This makes it substantially easier for users to organize their media content.