Saturday, October 20, 2007

Some say history tends to repeat itself. Today marked a day in history, when 20 years ago, the United States Dow Jones Industrial Average market crashed, on what is known as ‘Black Monday‘. The crash sent the market tumbling down 508 points, losing nearly 24%. On Friday, the Dow Jones nearly broke that record when the market closed at -366.94 points, down almost three percent.

Several factors could be to blame for the loss, one being Turkey’s government approving a measure on October 18 to send Turkish troops into Iraq in an attempt to take out militants of the Kurdistan Workers Party (PKK). This sent oil prices skyrocketing to the highest prices in history, with the highest record being just over US$89.00, which was set on October 18.

Fears that the housing market in the U.S. has come to a standstill has also lead Caterpillar Inc., which manufactures and sells construction equipment to issue a warning that the standstill would cause profits to drop, and the American economy to be severely hurt. On Friday their stocks lost nearly six percent to close at $73.57.

Investors and experts of the markets are disturbed by the losses calling the situation ugly.

“It’s pretty ugly. A company like Caterpillar should be a poster child for global growth and benefits of the weak dollar. It makes you question: Is global growth really that strong? Has the earnings kick from the weak dollar played itself out?” said Bell Curve Trading chief strategy expert, Bill Strazzullo.

Others believe that the losses were a way of emotionally responding to the events of ‘Black Monday.’

“Some of the earnings reports were a little disappointing but not that bad. I think we’re responding emotionally to the 20th anniversary of the October 1987 stock market crash. I’d like to laugh except it hurts,” said T Rowe Price Head trader, Andy Brooks.

The NASDAQ also took heavy losses to close down 74.15 points or -2.64%, closing at 2,725.16. The S&P 500 was also hit hard, losing 39.45 points, or -2.56%, closing at 1,500.63.

Tuesday, March 6, 2007

Manchester United will be taking on eleven of the top players in Europe in a celebration match next Tuesday at Old Trafford, and the lineup for the European XI is coming together nicely. The game is a UEFA-Manchester United collaboration created to commemorate not only the 50th anniversary of the signing of the Treaty of Rome, but also the 50th anniversary of Manchester United entering into European club competitions. Funds raised in the match will go to support the Manchester United Foundation, which works with local charities as well as UNICEF to aid children in need. Italian Marcello Lippi will be in charge of coaching the European XI side, and his assistant will be Andy Roxburgh. Confirmed players have slowly been filing into the team, but with current Manchester United on-loan striker Henrik Larsson confirmed, the XI is now complete.

Wednesday, January 12, 2005

This afternoon the RAF launched an operation to rescue nineteen sailors from a Spanish trawler in difficulties in a North Atlantic storm.

Radio contact with the FV Cibeles was lost yesterday evening at 2030 UTC when the crew reported to the ship’s owners that they were in trouble. Last night, UK Coastguard picked up a satellite emergency beacon signal as winds reached speeds of over 70 mph.

This morning a RAF Nimrod maritime patrol aircraft located the ship adrift 180 miles off the Scottish Western Isles. A nearby tanker, the Aegean Spirit, diverted with the intention of taking the trawler in tow and arrived at 1500 UTC.

However, the tanker was unable to take the trawler on tow, and with no other vessels capable of towing the ship nearby, the Coastguard Rescue Seeking helicopter “Mike Uniform” was launched from Stornoway to extract the crew. The tanker remained on scene to offer some protection from the weather, currently reported as gale force winds and rough seas.

• Joanne Groenenberg. “COASTGUARD HELICOPTER “MIKE UNIFORM” TO EVACUATE CREW FROM SPANISH FISHING VESSEL” — UK Coastguard, January 12, 2005

Friday, August 19, 2005

An explosion from an underground utility chamber in downtown San Francisco severely injured a woman and shattered a window at a Ralph Lauren clothing store shortly after 10:00 a.m. Pacific time Friday. According to a caller to KCBS radio, a woman was engulfed in flames after the explosion triggered a fire in the store. The fire was quickly put out.

A bomb squad is currently investigating the explosion, and the cause has yet to be determined. One official said the explosion may have been caused by an electrical transformer. A witness described a fireball coming out of the side of the building

Pacific Gas & Electric Co. company spokesman Paul Moreno has stated that “there was no indication of a gas leak.” Moreno also described the aftermath of the blast. “The explosion did displace manhole covers — two round steel ones — and it also displaced a concrete cover as well,” Moreno said.

Some accounts have described a rift in the sidewalk caused by the explosion below.

Construction worker Tom Demartini, who was sitting in his truck outside the Ralph Lauren store, stated he saw the sidewalk rise up six or seven inches. “It sounded like a big poof, then there was a lot of smoke,” Demartini said. “One woman looked like she was badly burned.”

The burned woman was taken to the emergency room at St. Francis Hospital. Hospital spokeswoman Linda Gillespie had no immediate comment on her condition. Her name was not released.

Workers in a nearby office building described how the blast shook their buildings and that they thought it was an earthquake. According to one woman, the elevator in her building stopped.

Scores of police have evacuated buildings several blocks around the explosion. Kearny street between Sutter and Market has been closed to both vehicles and pedestrians.

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.

Tuesday, July 17, 2007

Pittsburgh, Pennsylvania — Local caterers get ready for big business, as almost three thousand fans converge on the David L. Lawrence Convention Center over the Independence Day weekend for the world’s largest ever furry convention, Anthrocon 2007.

Many hope to renew acquaintances, or meet new friends. Others look to buy from dealers and artists, or show off new artwork or costumes. Some attend to make money, or even learn a thing or two. But one thing unites them: They’re all there to have fun.

Wednesday, March 8, 2006

Environmental scientists say they have concrete evidence that the planet is undergoing the “largest mass extinction in 65 million years”. Leading environmental scientist Professor Norman Myers says the Earth is experiencing its “Sixth Extinction.”

Scientists forecast that up to five million species will be lost this century. “We are well into the opening phase of a mass extinction of species. There are about 10 million species on earth. If we carry on as we are, we could lose half of all those 10 million species,” Myers said.

If we do not do more, Myers says, the planet will continue to lose around 50 species per day compared to the natural extinction rate of one species every five years. He projected this rate in the late 1980s to much criticism, but the figure is now widely accepted by scientists. “The whole thing is taking place in what you might call a flickering of an evolutionary eye,” said Myers. “It’s hard to keep up with unless we damp down on some of the causes of the evolution.”