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Friday, March 20, 2009

New Jersey is considering a state-wide ban on Brazilian waxes, the removal of hair from the bikini area.

Although genital waxing has never really been allowed in the state, the New Jersey Board of Cosmetology and Hairstyling plans to propose a ban with more specific legal wording, in response to two women who reported being injured during a wax. The board will consider the proposal at their next meeting on April 14.

If the measure passes, New Jersey may become the only US state to ban the practice outright.

Although millions of Americans engage in bikini waxes, which generally cost between $50 and $60 per session, the practice comes with risks. Skin care experts say the hot wax can irritate delicate skin in the bikini area, and result in infections, ingrown hairs and rashes.

Waxing on the face, neck, abdomen, legs and arms would continue to be permitted in the state under the proposed ban. Although New Jersey statutes have always banned bikini waxing, the laws were unclear and seldom enforced.

As a result, many salons from around the state have offered bikini waxing for years. Many salon owners spoke out against the proposed ban, which they said would severely damage their business.

“I really don’t know if the state can stop it at this point,” said Valentia Chistova, owner of the Monmouth County salon Brazil. “I know a lot of women who are really hooked.”

Friday, December 12, 2008

Top broker and Wall Street adviser Bernard L. Madoff, aged 70, was arrested and charged by the FBI on Thursday with a single count of securities fraud, also known as stock fraud and investment fraud. He allegedly told senior employees of his firm on Wednesday that his $50 billion business “is all just one big lie” and that it was “basically, a giant Ponzi scheme (since at least 2005).” Mr. Madoff faces up to 20 years imprisonment and a fine of up to $5 million. FBI agent Theodore Cacioppi said Mr. Madoff’s investment advisory business had “deceived investors by operating a securities business in which he traded and lost investor money, and then paid certain investors purported returns on investment with the principal received from other, different investors, which resulted in investors’ losses of approximately $50 billion dollars.”

The former chairman of the Nasdaq Stock Market is also the founder and primary owner of Bernard L. Madoff Investment Securities LLC, the closely-held market-making firm he launched in 1960. The firm is one of the top market maker firms on Wall Street. He founded his family firm with an initial investment of $5,000, after attending Hofstra University Law School. He saved the money earned from a job lifeguarding at Rockaway Beach in Queens and a part time job installing underground sprinkler systems.

A force in Wall Street trading for nearly 50 years, he has been active in the National Association of Securities Dealers (NASD), a self-regulatory organization for the U.S. securities industry. His firm was one of the five most active firms in the development of the NASDAQ, having been known for “paying for order flow,” in other word paying a broker to execute a customer’s order through Madoff. He argued that the payment to the broker did not alter the price that the customer received. He ran the investment advisory as a secretive business, however.

Dan Horwitz, counsel of Mr. Madoff, in an interview, said that “he is a longstanding leader in the financial-services industry with an unblemished record; he is a person of integrity; he intends to fight to get through this unfortunate event.” Mr. Madoff was released on his own recognizance on the same day of his arrest, after his 2 sons turned him in, and posting $10 million bail secured by his Manhattan apartment. Without entering any plea, the Court set the preliminary hearing for January 12.

Madoff’s hedge fund scheme may rank among the biggest fraud in history. When former energy trading giant Enron filed for bankruptcy in 2001, one of the largest at the time, it had $63.4 billion in assets. The scheme would dwarf past Ponzis, and it would further be nearly five times the telecommunication company WorldCom fraud and bankruptcy proceedings in 2002.

The Securities and Exchange Commission filed a separate civil suit on Thursday against Bernard L. Madoff Investment Securities and its eponymous founder Mr. Madoff. It was docketed as “U.S. v. Madoff,” 08-MAG-02735, by the U.S. District Court for the Southern District of New York (Manhattan). SEC, New York associate director of enforcement, Andrew M. Calamari, asked the judge to issue seizure orders on the firm and its assets, and appoint a receiver. The SEC pleads, among others, that “it was an ongoing $50 billion swindle; our complaint alleges a stunning fraud that appears to be of epic proportions.” It further accused the defendant of “paying returns to certain investors out of the principal received from other, different investors” for years. Madoff’s hedge fund business had previously claimed to have served between 11 and 25 clients and had $17.1 billion in assets under management. But virtually all of the assets were missing.

United States District Court for the Southern District of New York Louis L. Stanton on Thursday appointed Lee Richards, a Manhattan lawyer, as the firm’s receiver. A hearing is set for Friday, for a ruling on the SEC’s petition to grant plenary powers to the receiver over the entire firm, and an absolute asset sequestration.

Doug Kass, president of hedge fund Seabreeze Partners Management said that “this is a major blow to confidence that is already shattered — anyone on the fence will probably try to take their money out.”

Thursday, October 2, 2008

While nearly all mainstream coverage of the 2008 Presidential election has focused on the Democratic and Republican candidates, the race for the White House also includes independents and third-party candidates. These prospects represent a variety of views that may not be acknowledged by the major party platforms.

Wikinews has reached out to these candidates throughout the campaign and now presents an interview with Donald K. Allen of Youngstown, Ohio, an independent presidential candidate who registered with the Federal Election Committee in January 2007. He says that his three major policies are “1. Take care of America and Americans first. 2. Turn our economy around. 3. Secure our borders.”

Allen was previously interviewed by Wikinews, although the previous interview was only five questions long, and did not go into the candidate’s policy in much detail. As a result, Wikinews has decided to do a more in depth interview, which is available below.

Saturday, April 17, 2010

Journalist, counselor, painter, and US 2012 Presidential candidate Joe Schriner of Cleveland, Ohio took some time to discuss his campaign with Wikinews in an interview.

Schriner previously ran for president in 2000, 2004, and 2008, but failed to gain much traction in the races. He announced his candidacy for the 2012 race immediately following the 2008 election. Schriner refers to himself as the “Average Joe” candidate, and advocates a pro-life and pro-environmentalist platform. He has been the subject of numerous newspaper articles, and has published public policy papers exploring solutions to American issues.

Wikinews reporter William Saturn? talks with Schriner and discusses his campaign.

Friday, March 31, 2006

Canada has become the first western country to freeze aid and cut diplomatic ties to Palestine after the Palestinian Legislative Council installed a government led by Hamas. No other country has yet followed through on threats to end aid to the Palestinian Authority. Aid may still go to Palestine through the United Nations.

The Canadian Arab Federation head, Faraj Nakhleh, later expressed his dismay at the decision, which he says will harm the interests of the 3.5 million Palestinians who are at risk of starvation.

Thursday, January 27, 2005

PORTO ALEGRE-RS, Brazil —The fifth World Social Forum (WSF) has kicked off in Porto Alegre, Rio Grande do Sul state, Brazil. The Forum is back in its original home, Porto Alegre, after last year being held in Mumbai, India. The event was opened January 26, 2005 and it is scheduled to continue until January 31.

The World Social Forum is an annual meeting organized by left organizations, mainly from Brazil. It discuss strategies to fight back against the neo-liberalism, capitalism and imperialism. According to the organizers “The World Social Forum is an open meeting place where groups and movements of civil society opposed to neo-liberalism and a world dominated by capital or by any form of imperialism, but engaged in building a planetary society centred on the human person, come together to pursue their thinking, to debate ideas democratically, for formulate proposals, share their experiences freely and network for effective action.”

Just under 6000 different groups and organizations will participate in the six day event which joins discussions, protests and festivals.

Both the Brazilian president Luiz Inácio Lula da Silva and Venezuelan president Hugo Chávez are to be guests at the forum; however the reception of the two leaders is set to be quite different. Da Silva (commonly referred to as Lula) has faced criticism from the leftists set to make up the majority of participants at the forum due to the allegedly weak results of the government social politics and the way the government conducts the Economy. This is in stark contrast to the reception that he received at the 2003 forum (also in Porto Alegre), where he was hailed as a hero.

Hugo Chávez on the other hand is set to receive a warmer welcome for enforcing a 2001 law allowing for the expropriation of idle agricultural land from large estates. However, the government of Venezuela has also received criticism for what some feel to be intimidation of journalists and other anti-democratic acts.

This year the event has been tarnished by the Brazilian journalist Políbio Braga, who alleges illicit negotiations between the World Social Forum and GP Equipamentos Elétricos Ltd, a Brazilian company contracted to work on the infrastructure for the forum. He also accuses the Brazilian government of trying to stop the police investigation into the matter.

In 2006 the forum is scheduled to be held in Venezuela and/or simultaneously in different cities around the world.