Thursday, July 14, 2005

First Active has become the first financial institution to offer 100% mortgages in the Republic of Ireland. The bank previously offered 100% financing to professionals in finance and medicine, but is now to offer this product to anyone who can afford to meet the repayments.

The development is a huge boost for first time home buyers who have been struggling to get on the Irish property market in recent years due to the rapid increase in house prices. A typical first time buyer in Dublin with 92% financing would normally have to put down a deposit of €20,000-€30,000 in cash, but now have the option to produce no deposit.

First Active has said that 100% mortgages will be available across its entire range of mortgage products.

Note however that this is not necessarily an entirely positive development.

The United States and most of Europe have experienced a housing price bubble in recent years. A bubble occurs when buyers purchase a property not because its price is appropriate for its actual value but because they expect the price to significantly rise in the short term permitting resale with a profit.

In other words, the prices people pay for properties becomes divorced from the real value of the property; the purchase is speculative and depends purely upon the expectation that people will continue to buy properties in this way (e.g. without proper consideration of their real value).

The terrible weakness in this is that when the market corrects itself and prices fall to a level where properties are being priced at their actual realistic value, anyone holding a property loses a great deal of money, since the price they paid does not reflect the actual realistic value of the property.

This kind of shock to the housing market is extremely undesirable. Significant write downs in the value of property often significantly depress the economy as a whole.

Less than 100% mortgages force buyers to invest a significant amount of money in the act of purchasing their house, which tends to discourage purely speculative purchasing, thus helping to mediate house price bubbles.

With 100% financing, anyone who can meet repayments can speculatively purchase a property. This naturally encourages pricing bubbles.

Monday, June 20, 2011File:R. Lee Wrights LPNC 2012 State Convention.jpg

R. Lee Wrights, a candidate for the U.S. Libertarian Party’s presidential nomination, took some time to speak with Accredited Wikinews Reporter William Saturn about his presidential campaign and positions on political issues.

Wrights, a native of North Carolina, is an activist and lifetime member of the Libertarian Party who currently serves as the editor of several Libertarian publications. He previously worked as a medical technician in the United States Air Force and earned degrees in History and Journalism at Willmar College.

He is currently being challenged for the nomination by National Guard officer R.J. Harris, radio host Jim Duensing, former Nevada Libertarian Party chair Jim Burns, marketing executive Roger Gary and attorney Carl Person. 2008 Vice presidential nominee Wayne Allyn Root is also expected to make a run.

Saturday, August 25, 2007

The leading supplier of school uniforms in the United Kingdom, Lancashire-based manufacturer Trutex, has announced it is “seriously considering” including GPS tracking devices in future ranges of its uniform products after conducting an online survey of both parents and children.

“As a direct result of the survey, we are now seriously considering incorporating a [tracking] device into future ranges” said Trutex marketing director Clare Rix.

The survey questioned 809 parents and 444 children aged nine to 16. It showed that 44% of parents were worried about the safety of pre-teen children, and 59% wanted tracking devices installed in school apparel. 39% of children aged nine to 12 were prepared to wear clothing with tracking devices in them, while teenagers were notably less enthusiastic and more wary of what Trutex has admitted they see as a “big brother” concept.

However, Trutex has claimed the tracking devices would bring about worthwhile benefits, including being a valuable resource for parents who wanted to keep a close eye on where their children were at all times.

“As well as being a safety net for parents, there could be real benefits for schools who could keep a closer track on the whereabouts of their pupils, potentially reducing truancy levels” says Rix.

Each year, Trutex supplies 1 million blouses, 1.1 million shirts, 250,000 pairs of trousers, 20,000 blazers, 60,000 skirts and 110,000 pieces of knitwear to the UK.

It is not the first company to manufacture school uniforms with a central focus on child safety; last week Essex firm BladeRunner revealed it was selling stab-proof school blazers to parents concerned about violence against their children. The blazers were outfitted with Kevlar, a synthetic fibre used in body armour. It has already received orders internationally, including Australia.

If the Trutex tracking devices go ahead, it is unclear where in the uniform they will be located.

Monday, October 11, 2010

Wikinews interviewed author Amy Scobee about her book Scientology – Abuse at the Top, and asked her about her experiences working as an executive within the organization. Scobee joined the organization at age 14, and worked at Scientology’s international management headquarters for several years before leaving in 2005. She served as a Scientology executive in multiple high-ranking positions, working out of the international headquarters of Scientology known as “Gold Base”, located in Gilman Hot Springs near Hemet, California.

Thursday, March 8, 2007

Results are coming in for the Northern Ireland Assembly election held on Wednesday 7 March. With all first preference votes counted, both the Democratic Unionist Party (DUP) and Sinn Féin have made gains: the DUP received 30.1% of first preferences, an increase of 4.4 percentage points on the 2003 election, while Sinn Féin won 26.2%, up 2.6 percentage points. This means that the two parties have gained more than half of the vote. The Social Democratic and Labour Party (SDLP) came third with 15.2%, the Ulster Unionist Party fourth with 14.9% and the Alliance Party fifth with 5.2%.

The election is a crucial step in restoring devolved government to Northern Ireland, which has been under direct rule from Westminster since October 2002, when the Assembly was suspended after allegations that an IRA spy ring was operating there. The resulting court case collapsed. Attempts to get the leading unionist and nationalist parties to resume power-sharing had failed until the St Andrews Agreement was reached in October 2006. This agreement commits Sinn Féin to accepting the Police Service of Northern Ireland and the DUP to accepting power-sharing.

All 108 seats have now been filled. The DUP are the largest party with 36 seats, followed by Sinn Féin with 28 seats. Their combined total of 64 seats gives the two parties a majority of ten in the Assembly, assuming that they are willing to work together. Among others, DUP leader Ian Paisley has been elected in North Antrim, as has Sinn Féin leader Gerry Adams in West Belfast. DUP deputy leader Peter Robinson topped the poll in East Belfast, where Naomi Long of the Alliance Party was also elected. The leaders of the other two main parties were also elected: Mark Durkan of the SDLP was elected on the first count in Foyle, while Ulster Unionist leader Sir Reg Empey was elected on the third count in East Belfast. Alliance Party leader David Ford was elected in his constituency of South Antrim on the fifth count. Dawn Purvis, leader of the Progressive Unionist Party (PUP), was elected on the last count in East Belfast. The Green Party won their first ever seat in the Northern Ireland Assembly, when their Northern Ireland chairperson Brian Wilson was elected on the tenth count in North Down with 2839 first preference votes.

Anna Lo of the Alliance Party has become the first candidate from an ethnic minority background to have been elected to the Northern Ireland Assembly, winning a seat in South Belfast with the fourth highest first preference vote in the constituency, 3829 votes. She said her decision to stand had been an extension of her community work, and that she wanted to give a voice to Chinese people who never felt they had any part to play in Northern Ireland politics. She also said she hoped that indigenous voters who were fed up with “tribal politics” would give her their support, and that she was determined “to be much more than a candidate for ethnic minorities”.

Counting the votes cast in the 600 polling stations continued through to Friday 9 March. Turnout was 63.5%, down 0.5 percentage points on the previous election. Assembly elections use the Single Transferable Vote (STV) method of proportional representation, with each constituency returning six MLAs.

A new power-sharing Northern Ireland Executive is to be formed by 26 March, according to the St Andrews Agreement. The election of a First Minister and Deputy First Minister requires the support of a majority of unionist MLAs and of nationalist MLAs (“parallel consent”). In practice this means that the largest unionist party and the largest nationalist party must agree to share power. If they cannot agree by the deadline the Northern Ireland Assembly at Stormont will be suspended again and MLAs will have their salaries and allowances stopped. Though there has been criticism of the deal reached at St Andrews by elements within both the DUP and Sinn Féin, the government in Westminster believes that these dissenters are in a minority.

Northern Ireland Secretary Peter Hain said to CNN: “I’m optimistic that we can achieve a working government on March 26, but it’s a very stark choice for them — get into power, or shut up shop”. But he also warned that “if this falls over on March 26, there is no prospect of another settlement for a very long time, maybe years”. On Friday 9 March Mr Hain began separate meetings with the leaders and deputy leaders of the DUP and Sinn Féin.

Sinn Féin leader Gerry Adams said he had “no problem” with working with the Unionists and shaking the hand of Ian Paisley: “I think it is very, very important in terms of representing a community that for a long time was marginalized and excluded. We’re about reaching out to the Unionists”.

But Ian Paisley claimed that Sinn Féin’s decision to support the police had been “qualified”, and said, “you can’t pick and choose how far you are prepared to go for peace.” He also said that Sinn Féin had to “turn from their evil ways”. To the BBC he said: “We will enter into talks tomorrow with the Secretary of State, we will be meeting the Prime Minister next week, and the hard negotiations are now going to start. Sinn Féin are not entitled to be at the table until they declare themselves for democracy. I am a democrat, I don’t speak to loyalist paramilitaries, I don’t speak to Sinn Féin”.

On Friday 9 March British Prime Minister Tony Blair and Irish Taoiseach Bertie Ahern made a joint statement. They said, “The message of the electorate is clear. After so many years of frustration and disappointment, they want Northern Ireland to move on to build a better future together through the restored institutions. Many of the practical issues which have been raised in this election campaign can and should be resolved locally.” They said that they would work closely with the Northern Irish parties to restore devolved government by the deadline of 26 March and praised the progress already made in this direction. “The people of Northern Ireland have suffered grievous pain and loss. But enormous progress has been made and there is now no good reason why we should not be able to complete this historic process. All must now take responsibility in government for building and consolidating peace, this is what the people of Northern Ireland want. They deserve no less.”

[edit]

Thursday, August 30, 2007

Announced early Wednesday morning at Nokia’s GoEvent, in a plan to expand the company’s revenue, Finland-based company Nokia Inc. is developing a mobile phone similar to its rival iPhone, which will be available in the near future for Nokia customers. The phone is expected to be available by 2008.

Most of the features are the same as the iPhone’s. They include music, games, and many other features, even ones that the iPhone may not have. Ovi (in Finnish meaning “Door”) will be the door for more than 2 million songs and games available for download on the new device. Users will be able to download wirelessly in their own home or anywhere there is access to a computer.

But this is not the first time Nokia has made an attempt like this to increase its revenue. In October of 2003 the company revealed the N-Gage, a game-playing cell phone, but was “stocked-out” due to poor sales. The N95 smartphone, which was released in the U.S. on April 7, 2007 (before the iPhone on June 29, 2007) includes WiFi, a GPS, a music player, and a 5 megapixel digital camera. The three other phones that were revealed at the event in London will be in-stock next quarter. The new N81 and the modified N95 smartphones were among the revealed at yesterday’s event; the N81 is a new member to Nokia’s smartphone family; the N95 has been modified by having more memory and a sleeker LCD screen.

When Nokia was asked about the striking similarity between this and the iPhone, Nokia’s Executive Vice President and General Manager of Multimedia, Anssi Vanjoki, said, “If there is something good in the world then we copy with pride.”

Nokia first demoed their iPhone rival August 29th. During their demo they omitted the fact that the demo was for the software to be in use, not the actual hardware.[1]

Wednesday, January 13, 2010

File:Elizabeth and John Edwards by The Tonight Show.jpg

On Tuesday, United States television personality Conan O’Brien announced in a statement that he will no longer serve as the host for NBC‘s The Tonight Show if the network’s attempt to move his program to the post-midnight time slot comes to fruition.

This move, NBC has said, would be done to accommodate the return of the previous Tonight Show host, Jay Leno, back to late-night from his current prime-time slot.

In a long statement to the media, O’Brien states that NBC has given him a “scant” seven months to establish himself as host of The Tonight Show.

He continues to say that with his show still in “its infancy, NBC has decided to react to their terrible difficulties in prime-time by making a change in their long-established late night schedule.”

O’Brien adamantly declares that “delaying The Tonight Show into the next day to accommodate another comedy program will seriously damage what I consider to be the greatest franchise in the history of broadcasting.”

Citing his view that NBC’s purposed switch of The Tonight Show time slot could lead to the show’s ultimate “destruction,” O’Brien maintains that he would have no other choice than to step down as host—which could also include his possible move to another cable network—if this does in fact happen.