Mortgage Refinancing Beware Current Mortgage Rates Canada Showing Upward Trends

Submitted by: John Velazco

The general market in Canada is reliable and is also recovering. Certainly this has a direct influence on the Canadian mortgages. For instance during the last 12 months, we can easily notice a growth in Canadian mortgage rates three times one after the other. As now we have seen in the past, the rate of interest in Canada has normally been at an economical rate. Having said that, we expect the home loan rates to increase ultimately that year. The prime rate continues to be at 3% after the fall of 2010. There isn’t any justification to imagine that this will alter in no way till July that year. That being said, what should your approach be pertaining to Canadian Mortgage Rates?

At the moment if you happen to be with an adjustable rate mortgage you must just continue enjoying cheaper interest levels. Some mortgage brokers recommend cashing in on this moment, to give a boost to the monthly installment right away. This sort of financial condition can normally be a catalyst for positives for purchasers and sellers similarly. Attributable to the Canadian economy being healthy there won’t be any noticeable changes in your home prices, great for both, fixed as well as adjustable mortgage rate schemes. The Canadian financial system simultaneously has a bearing on the inflation rate which is of course firm. Nevertheless, home loan rates in Canada can climb from now on owing to one important element – latest inflation rate.

[youtube]http://www.youtube.com/watch?v=4gbzU8tjfUk[/youtube]

Bank of Canada aims at stopping the inflation rate at almost 2% or lesser. Owing to this probability plus the danger of the home loan rates in Canada rising, ensure you lock in your mortgage rates right now. Viewing the latest market scenario, Bank of Canada cautions to prevent too much use of credit and citizens in Canada are advised to cut back on their debts. Providing the economy survive it, the mortgage rates could possibly increase. A small amount of solutions comprise deciding on home loans which are supplied with a less expensive rate, apart from that to eliminate loans and also remaining credit. One more intelligent solution shall be to refinance your mortgage as a way to consolidate financial obligations.

Opting for fixed mortgage is one more alternative. Why? For the reason that these obviously have a extended settlement tenure, for that reason it eliminates the hazards of fluctuation in the financial system. Provided you want to accomplish this, there will be fewer complications as time passes should Canadian home loan rates keeps on increasing. Variable mortgage rates will indeed be a good choice for anyone who needs to sell any time soon. For anybody opting for a mortgage, the variable ones are actually a superb choice. There is a boost in the fixed rate home loans within the last few weeks to 3.82% a short time back, which resulted in a 1.72% growth. As such analysts are frequently promoting a variable, bearing inflation in mind plus as well repaying it almost like a fixed kind.

These formerly discussed solutions will enable you to choose an ideal mortgage scheme having lowest interest rate; there are numerous flaws to prevent! Of course you can use our Canadian mortgage calculator to figure out the monthly payments.

About the Author: John is an expert in the field. For more information on

Canada Mortgage

, and

Home mortgages

Please visit: http://www.ratesupermarket.ca

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Saudi Arabia: Princes arrested after protesting austerity

Monday, January 8, 2018

On Thursday, eleven princes were arrested in Riyadh, Saudi Arabia; authorities announced in a statement on Saturday. The princes were reportedly arrested for participating in a protest against austerity measures in the kingdom.

Authorities ascribed these arrests to a wider crackdown on corruption but did not name any of those arrested. Those arrested are being detained at al-Ha’ir Prison. “No one is above the law in Saudi Arabia. Everyone is equal and is treated the same as others,” said Saturday’s official statement.

News of the protest and arrests first broke on Friday on a website known as Sabq. The Saudi royal family may number in the thousands, and the government recently announced an end to paying for their water and energy bills. The protest, which is being described as a sit-in at the Qasr al-Hokm royal palace, was in opposition to the cuts in royal benefits, but also related to the murder conviction and execution of a cousin of theirs in 2016, calling for compensation for his death.

Crown Prince Mohammad bin Salman has been overseeing anti-corruption, austerity and social reforms programs since late last year, which included giving women the right to drive automobiles. Besides cutting the aforementioned benefits for members of the royal family, the austerity program has also included doubling domestic gasoline prices and levying new taxes on most goods and services. Offsetting some of these measures, King Salman stepped in, saying students, government employees and military personnel would receive cost-of-living allowances, according to the Saudi Press Agency.

Retrieved from “https://en.wikinews.org/w/index.php?title=Saudi_Arabia:_Princes_arrested_after_protesting_austerity&oldid=4377159”

Denunciations of Scandals Threaten UN

Tuesday, April 19, 2005

Denunciations of corruption, bribe, collection of bribes from refugees [1] and of sexual scandal involving the peacekeepers [2], [3] threaten the Organization of the United Nations (UN).

The gravest denunciations involve the aid project to Iraq, called Oil-for-Food. Grave denunciations of bribe exist, superfluous accounting and collaboration with the ex-dictator Saddam Hussein, against staff of the UN, companies and politicians of several countries. Even the secretary of the UN, Kofi Annan was suspicious of participation in the plan of corruption. And also grave doubts still hover about his son, Kojo Annan.

The gravity of the denunciations threatens not only the credibility of the UN, but its existence.

Secretary Kofi Annan said that he is going to promote reforms in the organization. [4]

Retrieved from “https://en.wikinews.org/w/index.php?title=Denunciations_of_Scandals_Threaten_UN&oldid=4540035”

Benefits Of Installation And Siding Repair In Charles Mo

byadmin

Whether someone is building a home or they simply want to give their current home a new look, investing in top-quality siding is important. Companies that do installation and siding repair in Charles MO know there are a variety of options available, but none match the durability of vinyl siding. Today’s contractors are here to point out some of the benefits of residential vinyl siding. For those considering the investment, below are some of the reasons why vinyl siding comes so highly recommended by contractors and homeowners alike.

Cost Savings

If a person is concerned about their budget, vinyl siding can be more cost-efficient than fiber cement or natural wood siding. In most cases, vinyl siding is about half the cost of other materials. Furthermore, because it’s easier to install, the customer spends less on labor during the process of installation.

Durability

One of the main benefits of vinyl siding is that it is much more durable than other siding options. Unlike wood siding, which can gradually rot, vinyl siding is not affected by water and it is made to stand up to the elements. Most vinyl siding offered by local contractors comes with an extensive warranty for additional peace of mind.

Energy Efficiency

Many of today’s homeowners are concerned about the home’s overall energy usage. Investing in insulated siding can provide the owner with hundreds of dollars in energy savings each year. Certain kinds of energy-efficient vinyl siding may also make a homeowner eligible for rebates and discounts as well.

Low Maintenance

Some homeowners prefer to invest in vinyl siding because of its easy care and low maintenance. It is highly pest resistant, and it does not rot, crumble or fade with time. The only maintenance it generally needs is the occasional treatment with a pressure washer.

To find out more about the advantages of vinyl siding installation and Siding Repair in Charles MO, call the local pros. They specialize in siding repair, roofing repair and installation, decks, patio covers and more. Be sure to visit the website or contact us to learn about all their services or to schedule an appointment.

Class action launched by Australian bushfire survivors against SP AusNet

Wednesday, February 18, 2009

The largest class action in Victorian history was commenced at the Supreme Court of Victoria on Friday the 13th by Slidders Lawyers against electricity distribution company SP AusNet and the Brumby Government in relation to the Kilmore East fire that became part of the Kinglake complex.

Because of the lawsuit, SP AusNet SPN.AX’s shares on Monday have dropped more than 13.36 per cent or 14.5 cents, to an intra-day low of 94 cents, was at 98.5 cents at 10:38 a.m. local time, before recovering slightly to be 7.5 cents lower at A$1.01 by 1144 AEDT (0003 GMT) or 6.9 percent in Sydney trading. Shares in SP AusNet closed 3.7 percent lower at A$1.045 on Monday.

Power supplier SP AusNet said it has asked the Victoria Court regarding the status of the class action proceedings saying the firm had insurance policies in place consistent with industry standards. “SP AusNet will continue to update the market as further information becomes available,” the company said.

The claim has focused on alleged negligence by SP AusNet in its management of electricity infrastructure. It maintains most of the power lines in eastern Victoria. Its fallen power line is believed to have sparked the blaze that tore through Kinglake, Steels Creek, Strathewen, Humevale, and St Andrews. The plaintiffs include thousands of angry Kinglake farmers, small business owners, tourist operators and residents who lost homes.

Leo Keane, the lead plaintiff in the class action has alleged “SP AusNet owed a duty of care to landowners to operate and manage power lines in a way that limited the risk of damage from bushfires.”

On Thursday Phoenix Taskforce had taken away a section of power line as well as a power pole from near Kilmore East, part of a two-kilometre section of line in Kilmore East that fell during strong winds and record heat about 11am last Saturday. It was believed to have started the fire there, since within minutes a nearby pine forest was ablaze, and within six hours the bushfire had almost obliterated nearly every building in the towns in its path.

“It is believed that the claim will be made on the basis of negligent management of power lines and infrastructure,” Slidders Lawyers partner Daniel Oldham said. The law firm has announced it was helping landowners and leaseholders get compensation for the 2003, 2006, 2007 and 2009 bushfires. “If you have been burnt by the recent bushfires, please register your interest using the form below as soon as possible,” the law firm’s website stated.

The Insurance Council of Australia has placed the cost of the bushfires at about $500 million. “That means keeping electricity lines clear of trees and in a condition that won’t cause fires. They must also have systems in place to identify and prevent risks occurring,” Melbourne barrister Tim Tobin, QC, said. According to the 2006 census, Kinglake had a population of almost 1,500 people.

But SP AusNet’s legal liability has been limited at $100 million under an agreement inked by the former Kennett government with private utility operators, when the former State Electricity Commission was privatized in 1995. Accordingly, the Brumby Government could be legally obliged to pay damages of the differences amounting to hundreds of millions of dollars.

SP AusNet Ltd said some of its electricity assets have been damaged by the Victoria bushfire. “As a preliminary estimate, it is thought that damage has been sustained to approximately one per cent of SP AusNet’s electricity distribution network, mainly distribution poles, associated conductors and pole top transformers,” SP AusNet said in a statement to the Australian Securities Exchange (ASX). It explained that up to 6,000 homes and businesses on its network were without power due to bushfires, including the Kinglake complex fire, Beechworth fire, and fires across Gippsland including Churchill and Bunyip.

SP AusNet said the firm will cooperate fully and will assist in any fire probe. “We stand ready to assist the relevant authorities with their inquiries if it is necessary for us to do so now and in the coming months,” SP Ausnet spokeswoman Louisa Graham said in a statement.

“Our priority is to restore power to fire-affected areas as quickly as possible. We believe the claim is premature and inappropriate … SP AusNet will vigorously defend the claim. If the claim is pursued, SP AusNet advises that it has liability insurance which provides cover for bushfire liability. The company’s bushfire mitigation and vegetation management programmes comply with state regulations and were audited annually by state agencies,” Grahams explained.

Victorian Auditor-General Rob Hulls said “there was an ‘unseemly rush’ by some lawyers to sue before the cause of the fires had been fully investigated.”

“The government body had audited the network’s bushfire risk to make sure required distances between power lines and vegetation were maintained. Power companies had been given a clean bill of health, and electricity firms were judged to be ‘well prepared for the 2008-09 bushfire season.’ There were no regulations applying to the distances between poles supporting electricity lines and spans of one kilometre were not unusual,” a spokesman for Energy Safe Victoria explained.

Christine Nixon, the 19th and current Chief Commissioner of Victoria Police said investigations into the cause of the bushfires were ongoing. “I know people are angry, and so are all of us in this community. But we need to kind of have a sense that the proper processes are in place and we need to go through the investigation and through the court case,” Nixon said. “At this stage we are not able to confirm how it started. I understand there is some legal action that people are taking, but at this stage we’re still investigating its cause. But the whole circumstances of that fire are part of our Taskforce Phoenix, and as we move through that we’ll be able to tell the community more once we’re able to confirm or deny what we think is the cause of these fires,” Nixon added.

On Thursday, two people were arrested in connection with the fires, having been observed by members of the public acting suspiciously in areas between Yea and Seymour; although they were both released without charges laid.

Brendan Sokaluk, age 39, from Churchill in the Gippsland region, was arrested by police at 4pm on Thursday, in relation to the Churchill fires, and was questioned at the Morwell police station. He was charged on Friday with one count each of arson, intentionally lighting a bushfire and possession of child pornography. The arson case relates to 11 of the 21 deaths in the dire Gippsland fire, which devastated 39,000 hectares in the Latrobe Valley, Calignee, Hazelwood Koornalla and Jeeralang. Two teams of Churchill firefighters were almost lost in the inferno that remains out of control.

Mr Sokaluk joined the CFA Churchill brigade in the late 1980s as a volunteer fire fighter, left in the 1990s and attempted to rejoin twice, but was rejected. He failed to appear in Melbourne Magistrate’s Court Monday for a scheduled hearing, since the court reset the committal hearing on May 25. He is represented by lawyer Julian McMahon.

Magistrate John Klestadt has lifted the suppression order which kept the suspect’s identity a secret but identifying photographs were barred from being released. Mr Sokaluk was remanded in protective custody from Morwell to a cell in Melbourne for his own safety amid fears angry prisoners will target him and real risk of vigilante attacks. He faces a maximum sentence of 25 years imprisonment if convicted on the arson charge.

“This is an extraordinary case. The level of emotion and anger and disgust that the alleged offenses have aroused in the community is unprecedented.” Mr Sokaluk’s defense lawyer Helen Spowart argued. The prosecution has moved the Court for more time to prepare its case, saying there would be up to 200 witnesses to interview.

Slater & Gordon has indicated that they were awaiting the report of the to-be-established Royal Commission, expected in late 2010, before initiating any claims.

Armed with a $40 million budget, the Royal Commission’s Chair Justice Bernard Teague will be assisted by former Commonwealth ombudsman Ron McLeod, who led the inquiry into the 2003 Canberra bushfires, and State Services Authority Commissioner Susan Pascoe. The Commission has said its interim report is due on August 17 while the final report will be submitted by July 31, 2010.

Judge Bernard Teague has announced Tuesday he will meet with fire victims and fire authorities within the next two weeks. “We want to do that as soon as possible – probably not next week but starting to have these discussions the week after,” he said.

Julia Eileen Gillard, the Deputy Prime Minister of Australia and deputy leader of the federal Australian Labor Party (ALP) said the federal and Victorian governments would respond quickly to the royal commission’s report. “Everybody who has lived through this experience in Victoria and around the nation has asked the question: ‘Why? What can we do better?’. No one wanted to see the report “as a book on a shelf gathering dust,” she said.

Victoria bushfire experts, led by Forest Fire Victoria – a group of scientists and forestry experts – have condemned the government’s “Living with Fire” policy and the state’s failure to initiate serious fuel-reduction programs. The Victoria government had failed to seriously act on bushfire safety recommendations submitted last June by the Victorian Parliamentary Environment and Natural Resources Committee.

As death toll rises, evidence mounts of lack of planning prior to Australia’s worst bushfire. “Living with Fire” policy means Kinglake fire trucks were dispatched to an earlier fire in Kilmore, leaving Kinglake undefended. “Kinglake was left with no fire brigade and no police. The trucks had been sent to Kilmore. I’ve been in the fire brigade for 10 years. There was always a law—the trucks had to be on the hill. Because of the government we got gutted at Kinglake. They should have been getting generators ahead of the fire—so people would have had a chance of fighting it. As soon as the power went, I couldn’t keep fighting the fire at my place,” Rick and Lauren Watts, and their friend Neil Rao, spoke to the WSWS.

Rick has also criticized the lack of early warning communications systems, since emergency siren warnings in the town had been stopped some years earlier. Humevale resident Sina Imbriano who has six children was angry about the failure of state and federal governments to set up a recommended telephone warning system amid its “stay and defend or go” policy. Bald Spur Road residents Greg Jackson and his wife Fotini said the government’s “stay and defend or go” policy was “fruitless” since the critical issue was early warnings, but “they [the government] just won’t spend the money.”

Also on Friday, five law firms from Victoria’s Western Districts, including Warrnambool-based Maddens Lawyers and Brown & Proudfoot, held a meeting to discuss a potential class action in relation to the Horsham fire, which was also thought to have been started by fallen power pole that burnt vast swathes of land in Mudgegonga and Dederang, Victoria. The lawsuit will also focus on the fire that blackened about 1750 hectares at Coleraine.

Maddens senior attorney Brendan Pendergast said: “We don’t know who the defendant is at this stage. We are unsure who the electrical supplier is for that area but we should know in a few days. There were people who had their homes burnt to the ground and they will need to reconstruct, replace their contents,” he said. Maddens has initiated a register of affected landowners for the recent bushfires, saying the firm has included victims of the Pomborneit fire that burnt almost 1300 hectares in the proposed class action amid the CFA’s statement the blaze could have been deliberately lit.

Frances Esther “Fran” Bailey, Liberal member of the Australian House of Representatives (1990-93 and 1996-present), representing the electorate of McEwen in Victoria said the Country Fire Authority (CFA) had told her one of the power lines had broken before the fire.

“The local CFA [Country Fire Authority] told me on that Saturday, with those very high winds, one of the lines had broken and was whipping against the ground and sparked,” she said. “Whether or not that is the cause of that terrible fire that actually took out Kinglake and maybe Marysville, the investigations will prove that, but we’ve got to do better,” she added.

Victorian Premier John Brumby said the power line claim would be examined as part of the Royal Commission into the bushfire. “No stone will be left unturned. So, I think it’s important the Royal Commission does its work. And, the Royal Commission will, of course, look at all of the factors with the fires,” Mr Brumby said. At least 550 houses were incinerated and 100 people have been killed, leaving more than 1,000 homeless in the Kinglake bushfire and surrounding areas.

SP AusNet – Singapore Power International Pte Ltd is a wholly-owned subsidiary of Singapore Power Limited (51% interest in SP AusNet). SP AusNet’s electricity transmission and distribution networks, along with the gas distribution assets, enable it to deliver a full range of energy-related products and services to industrial and domestic customers in Victoria, Australia.

Singapore Power ( ?????????) is a company which provides electricity and gas transmission, distribution services, and market support services to more than a million customers in Singapore. As the only electricity company in Singapore, and also one of its largest corporation, SP was incorporated as a commercial entity in October 1995 to take over the electricity and gas businesses of the state provider, the Public Utilities Board. Since 1995, Temasek Holdings controls the entire company with a 100% stake. SP is involved in a major investment in Australia‘s Alinta in partnership with Babcock & Brown, after putting up a bid of A$13.9 billion (S$17 billion), beating out a rival bid by Macquarie Bank.

The devastating 2009 Victorian Black Saturday bushfires, a series of more than 400 bushfires across Victoria on February 7 2009, is Australia’s worst-ever bushfire disaster, claiming at least 200 deaths, including many young children, and is expected to pass 300. 100 victims have been admitted to hospitals across Victoria with burns, at least 20 in a critical condition, and 9 on life support or in intensive care. The fires have destroyed at least 1,834 homes and damaged many thousands more. Many towns north-east of Melbourne have been badly damaged or almost completely destroyed, including Kinglake, Marysville, Narbethong, Strathewen and Flowerdale. Over 500 people suffered fire-related injuries and more than 7,000 are homeless. It has scorched more than 1,500 square miles (3,900 square kilometers) of farms, forests and towns.

The Supreme Court of Victoria is the superior court for the State of Victoria, Australia. Founded in 1852, it is a superior court of common law and equity, with unlimited jurisdiction within the state. Those courts lying below it include the County Court of Victoria, the Magistrates’ Court of Victoria and the Victorian Civil and Administrative Tribunal (which is technically not a court, but serves a judicial function). Above it lies the High Court of Australia. This places it around the middle of the Australian court hierarchy.

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Konami Cup Asia Series 2007 Day 1: Uni-Lions reverses China, SK Wyverns ends Japan’s winning streak

Thursday, November 8, 2007

Konami Cup Asia Series 2007 battled in Tokyo Dome today, with 2007 BWC in Taiwan and upcoming 2007 Asian Baseball Championship chained on the qualification of 2008 Summer Olympics, this series may varied Asian’s teams recently.

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Wikinews interviews Democratic candidate for the Texas 6th congressional district special election Daryl Eddings, Sr’s campaign manager

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.

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Useful Tips While Buying Used Cars}

Useful Tips While Buying Used Cars

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[youtube]http://www.youtube.com/watch?v=g3l8fEk77T8[/youtube]

HarshaAre you keen in buying a car for yourself but your limited budget is not allowing you to buy a brand new one? Then, why don’t you consider buying a used car within a reasonable price? Buying a used car will definitely ease you off that extra financial burden that you might face while buying a brand new car. Well, the automobile market these days is full of dealers offering a whole range of used cars; so all you need is the full knowledge of how to pick the best used car for yourself. Worry not, we are here to enlighten you with some useful tips that you can keep in mind while buying used or second hand carsSet the BudgetThe first tip to use while buying a used car is to set the budget because if you are not clear on how much your pocket allows you to spend on a second hand car, you won’t be able to buy a perfect one for yourself. Moreover, once the budget is set, you can actually shortlist the cars that fit your budget and then you can look out for the best options among them from various used car dealers.

Car Model

Second thing to consider while buying a used car is to select the car model depending on your needs. For this, you must take time out to assess your own requirements and if possible your family’s requirements as well and once this is done, you can choose the best suiting car models. Also, try to set your priority of a diesel car or a petrol car, as this will go a long way in buying an appropriate used car.

Fuel Efficiency

Another important factor to consider while going on a spree to buy a used car is to check the fuel economy. No matter, in whatsoever country you live, the fuel efficiency can’t be ignored for your second hand car. This is even more important if you are thinking to buy a used car in an Asian country like India, where the fuel prices are always rising.

Research

Make sure to complete your research before actually visiting a used car dealer, so that you are aware of all the things and parameters to consider before finalizing a car. For this, you can check out the various car portals to read the reviews about different car models. Apart from this, you can even check out the leading auto magazines to get to the more wise choice of a second hand car.Physical Check Out & Test DriveEven a child makes sure to check a toy before buying, so buying a car, be it a used one is a big thing and you should never neglect checking it out physically from all the angles. On the other hand, just checking the physical appearance of your chosen second hand car is not enough; don’t forget to go for a test drive. Also, make sure to drive the car yourself to see all the features while in a running position.

I am a blogger who writes about used cars in India

Article Source:

eArticlesOnline.com}

CEO of GM outlines plan for “New GM” after auto company declared bankruptcy

Thursday, June 4, 2009

In a New York press conference at 16:15 UTC, June 1st, Fritz Henderson, the Chief Executive Officer of General Motors, which filed for bankruptcy and Chapter 11 protection from its creditors earlier today, outlined a plan for what he called a “New GM”.

Speaking to the press under safe harbor provisions of U.S. law, Henderson described the events of today as a “defining moment” in the history of General Motors. Speaking to the public he said that “The GM that let you down is history,” and described a “New GM” that he expected to result from the bankruptcy process.

Henderson stated that he envisioned the bankruptcy process would take between 60 and 90 days. He stressed several times his view that the process would be one that is executed quickly, saying that not just a sense of urgency but “pure unadulterated speed” was his expectation of the process. He emphasized that “GM remains open for business” during the bankruptcy period, continuing to sell and to support its products, and that day one motions had been filed in the bankruptcy court in order to allow this.

Regarding the bankruptcy process he said, “We will do it right. And we will do it once.”

He stated that the plan for General Motors had the support of the United Auto Workers union, the Canadian Auto Workers union, the GM VEBA, and a majority of the unsecured bondholders of GM. He also mentioned that GM had already received €1.5 million in bridge financing from the German government.

In response to questions about the possibility of the United States federal government, a majority shareholder in the restructured company, dictating future product development and strategy, such as the sale of more fuel-efficient and green vehicles; he first observed that the federal government had already stated to him that it had “no real interest in running our business” and that he expected that still to be his job. Of the specific hypothetical scenario where the management of GM wants to make one type of car, because it thinks that it is the right thing for the business, and the U.S. government wants to make another type of car, he stated that “I don’t think it’s going to happen.” Expanding on that point he stated that he expected the “New GM” to focus upon “highly fuel-efficient and green technology”, and that operating both in accordance with U.S. environmental laws and in response to customer demand would naturally result in the New GM producing the types of vehicles that the U.S. government would encourage.

The “New GM” he also expected to focus on “four core brands”, and will size its dealership to match that. He stated that GM would offer a “deferred termination” package to dealers, to allow them to cease dealing in GM vehicles in a managed and gradual way.

He stated that the bankruptcy filings did not cover General Motors’ businesses in Latin America, Europe and the Middle East, and Asia and the Pacific. Of GM’s profitable ventures in China, specifically, he stated that they were “a critical part of the New GM”. In response to questions of whether the New GM would import cars from China to the U.S., he stated the formative company’s core principle that “We build where we sell” applied in both directions, with GM building in China to sell in China and building in the U.S. to sell in the U.S., stating that this shortened supply chains.

He declined to predict when the New GM would return to profitability, stating that the goal was rather to lower the break-even EBIT point for the company. He also declined to speculate upon when the U.S. government would sell its stake in the company, saying that that was a question “better addressed to the U.S. Treasury”, and merely saying that he expected it to be “years, not months” when the U.S. Treasury felt it would give “the right return for taxpayers.”

Retrieved from “https://en.wikinews.org/w/index.php?title=CEO_of_GM_outlines_plan_for_%22New_GM%22_after_auto_company_declared_bankruptcy&oldid=4455649”

Australian health workers to close intensive care units in Victoria next week

Thursday, March 13, 2008

Members of Australia’s Health Services Union (HSU) will go on strike in Victoria next week in a dispute over stalled wage and career structure negotiations. Over 5000 physiotherapists, speech pathologists and radiation therapists will walk off the job next week, effectively closing the state’s 68 largest health services.

The strike will force the closure of intensive care units and emergency departments across the state.

It is feared the strike could continue into Easter.

National secretary of the HSU, Kathy Jackson said admissions would be crippled, while intensive care patients would have to be evacuated to New South Wales, Tasmania and South Australia as hospitals will not be able to perform tests or administer treatment.

“When an ambulance shows up you can’t admit a patient without an X-ray being available, you can’t intubate them and you can’t operate on them,” she said.

“If something goes wrong in an ICU you need to be able to X-ray, use nuclear medicine or any diagnostic procedure,” said Ms Jackson.

Ms Jackson said the HSU offered arbitration last year, but the state government refused. “They’re not interested in settling disputes, they hope that we are just going to go away.”

“We’re not going away, we’ve gone back and balloted the whole public health workforce in Victoria, those ballots were successful, 97 percent approval rating,” she said.

The HSU is urging the government to commence serious negotiations to resolve the dispute before industrial action commenced.

The government has offered the union a 3.25 per cent pay increase, in line with other public sector workers but the union has demanded more, but stopped short of specifying a figure.

Victorian Premier John Brumby said the claim would be settled according to the government’s wages policy. “The Government is always willing and wanting to sit down and negotiate with the relevant organisations . . . we have a wages policy based around an increase of 3.25 per cent and, above that, productivity offset,” he told parliament.

The union claims it is also arguing against a lack of career structure, which has caused many professionals to leave the health service. Ms Jackson said wages and career structures in Victoria were behind other states.

Victorian Opposition Leader Ted Baillieu said he was not in support of the proposed strike and called on the government to meet with unions. “There could not be a more serious threat to our health system than has been announced today.”

“We now have to do whatever is possible to stop this strike from proceeding,” he said.

The opposition leader will meet with the union at 11:30 AM today.

Victorian Hospitals Industry Association industrial relations services manager Simon Chant said hospitals were looking at the possible impact and warned that patients may have to be evacuated interstate if the strike goes ahead.

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