Thousands take part in protests across US against government’s financial policy

Sunday, March 1, 2009

Last Friday, thousands of people, in a total of more than thirty US cities, took part in a protest against the economic policy of the US government.

The event, which was inspired by the Boston Tea Party, took place due to comments made by CNBC presenter Rick Santelli.

“This is America! How many of you people want to pay for your neighbors’ mortgages, that has an extra bathroom and can’t pay their bills?” said Santelli, speaking on-air to the television audience. “We’re thinking about having a Chicago tea party in July. All you capitalists that wanna show up at Lake Michigan, I’m gonna start organizing.”

The protest took place in anger against the American Recovery and Reinvestment Act of 2009 (ARRA). Several protesters voiced their opposition to this act. “I’m sick and tired of it,” said protester Barbara Keeton, speaking to WYFF4.com. “That’s my money. That’s my grandchildren’s future. It’s down the toilet.”

“The debt that Obama’s got, is way higher now, less than 100 days after he’s been in office,” she continued.

Organizers of Friday’s protests have announced that they are planning a new series of protests on April 15.

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What Are Bridging Loans

By Chris Clarke

Bridging loans have come into their own as a form of finance for the enterprising and shrewd borrower. The bridging market has grown exponentially over the last few years and is now estimated to be worth over 2.5 billion and growing at 25% per year. Although it still has a role to assist borrowers release cash quickly it is increasingly being used to help property developers and investors.

As well as traditional uses for bridging loans, such as residential property, there are lenders who will fund semi-commercial and full commercial properties. This is despite commercial property being perceived as having an increased risk factor. Although the risk has not diminished , the demand for this type of borrowing has forced lenders to respond. This demand is fueled by the growth in interest in commercial property by professional investors, and the rising incidence of businesses getting into financial difficulties, thus needing to raise capital quickly.

Because bridging lenders take a flexible approach to clients with bad credit they will not usually require a credit check, however they will always need to be satisfied that the property being offered as security is suitable.

There have been a multitude of new entrants to the bridging market which has forced some of the more established lenders to re-shape their lending policies. The old, tarnished image has been eroded with new dynamic lenders who are willing to utilize the latest IT advances and employ the highest levels of customer care taking their place.

[youtube]http://www.youtube.com/watch?v=N0ebIheDW3k[/youtube]

At the core of all bridging loans is the ratio of the loan amount compared to the value of the asset, usually referred to as the Loan to Value(LTV) and this is the single most important criteria when a lender considers a proposal for finance. This is partly why brokers are used for the majority of bridging loans. A broker will know which bridging lenders will require a credit check and which will consider applications from clients with bad credit histories, this means that a broker should be able to help find the right type of funding.

Some of the more common uses of bridging finance include:

Auctions:

If a person buys a property at auction they have to complete the purchase within 28 days. Using a mainstream lender it would be almost impossible to organize drawdown of funds in time, however bridging loans can easily be arranged in this time frame.

Buying Property at Undervalue:

Approaching a mainstream lender with a proposal to purchase a property at under value is pointless as they will only consider the purchase price. However bridging loans can be raised against the value of the property and not the purchase price. This means that theoretically it is possible to purchase a property at discount without putting any money into the deal.

Debt Relief:

Business people often get into financial difficulties due to cash-flow problems. These can be a result of trading problems or even unexpected tax demands, where there is equity in a freehold property bridging loans are an ideal solution.

Currently there is no Code of Practice, or indeed any self-regulating body to govern the activities of bridging lenders, although there have been several attempts to form one. The Council of Mortgage Lenders (CML) will accept bridging finance lenders as members, as will the National Association of Commercial Finance Brokers (NACFB) but neither organisation is geared to examine the specifics of bridging loans. Where the loan is required to assist with the purchase of a family home the Financial Services Authority (FSA) have very strict controls over who can lend money and under what terms.

Just like a conventional mortgage, bridging loans carry some serious legal consequences should a borrower not make payments, or fail to clear the loan at the agreed time. One clause to be on the look out for is one which entitles the lender to charge excessive penalty interest if any payments are late, although most will make a charge, it should be reasonable. It is also important to make sure you fully understand the implications of redeeming the loan early.

Most bridging lenders are now well organized, customer focused organizations, the on-going threat of increased regulation has seen the death of some of the unsavory business practices which means that bridging loans should continue to be a valuable tool.

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by talking to a commercial finance broker. Spectrum Business Finance have been arranging bridging finance for over 5 years and have the experience to accommodate most circumstances.

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French TV director Alain Jaubert talks about art programs in Taiwan

Sunday, January 20, 2008

Alain Jaubert, director of the famous art program Palettes by Association Relative à la Télévision Européenne (ARTE) was invited by Taiwan Public Television Service (PTS Taiwan) and the French Institute in Taipei to talk about productions on his art program on January 19 in Taipei City. He also talked about some experiences and functionalities on art programs with the Chairman of National Culture and Arts Foundation Mingchuan Huang.

According to PTS Taiwan, Jaubert failed at his first attempt to produce “Palettes” in 1984, but finally succeeded in 1987 after his proposal was recalled and Jaubery tried another production style to introduce history and background on establishments of notable pictures to Europe. This program was finally recognized and encouraged by administration centers from three ancient monuments (Louvre, Musée d’Orsay, and Pompidou Centre). This also echoed Jaubert’s words in his speech: “Without support by art comrades and those administrations centers, ‘Palettes’ would not exist; I wouldn’t have become notable in Europe.”

Before the Executive Panel, the PTS Taiwan screened highlights from some art programs including “Pelettes” by ARTE and “Avant Guard Liberation” by Mingchuan Huang. After the screening, executives talked about specifications on art programs and forecasted the future of directions on art programs world-wide.

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Wikinews’ overview of the year 2007

Monday, December 31, 2007

What would you tell your grandchildren about 2007 if they asked you about it in, let’s say, 20 year’s time? If the answer to a quiz question was 2007, what would the question be? The year that you first signed on to Facebook? The year Britney Spears and Amy Winehouse fell apart? The year author Kurt Vonnegut or mime Marcel Marceau died, both at 84?

Let’s take a look at some of the international stories of 2007. Links to the original Wikinews articles are in bold.

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Is Buying Stocks A Good Idea?

By Scott M Bradley

Many people wonder whether or not buying stocks is a good idea. Those who do not take part in investing may feel that buying stocks is not a good idea because there is risk to it. Well, this is right; there is risk to buying stocks. When you buy stocks, you are hoping that the price of the stock increases, that way you can sell the stocks for more money. For example, if you buy one share for $20 and that share doubles in price, you make $20 off your investment. Now, if you had 10,000 shares at $20 and it doubled in price, you would make $200,000. Is it any surprise that one of the richest men in the world, Warren Buffet, has been able to make so much money through investing?

However, buying stocks is something that can help you greatly in your life when you do it right. When you are buying stocks without a broker, or you are buying stocks with a discount broker, you can make good money by investing in the stock market.

If you go to the stock market and start investing without doing research, you will only end up losing all of your money. All of the steps to buying stocks include a step for research because it is so incredibly important. When you research stocks, you can determine what stocks will go up and what stocks will go down. You won’t know exactly what stocks will go up or down, but at least you will have a better idea of how stocks will do. When someone asks ‘Is buying stocks suggested in articles smart?’ the only answer that we can give is yes. Various websites have been designed to help give you an indication of how stocks are going to do. These websites do the research and give you the scoop on what is going to happen so that you can begin to make a decision about how to invest.

[youtube]http://www.youtube.com/watch?v=0uTJGXMw0w0[/youtube]

Does this answer the question of whether or not buying stocks is a good idea. Well, yes buying stocks are a good idea and here are just some of the reasons why.

1.When you spend most of your working life investing, you can make a lot of money. When you have 40 years before retirement, you can invest heavily in your youth because you have more time to make up for falls in the stock market. In the long-run, buying stocks gives higher rewards than other types of investments.

2.When you invest in the stock market, you make money for doing nothing. You work at a job and you make money when you are at the job, but with stocks you make money even when you are sleeping. The stocks go up and down without you doing anything. It is all based on the work of others. When a company does well, you do well. It is possible, on a rapidly increasing stock, to make double or three times what you make a year at your job, without having to do anything but invest.

3.While there are risks to investing, buying stocks is not gambling. People will often ask what is the difference between buying and selling stocks and gambling, and to that we can say that with stocks you do research, while with gambling it is all about luck.

Buying stocks is something that can help you make a lot of money when you do it well. Buying stocks is a good idea when you do your research because you can make a lot of money. Of course, there is the chance you will lose a lot of money on the stock market, but there is just of much of a chance that you will make a lot of money. Fortunes are won and lost on the market on a daily basis.

So, is buying stocks a good idea? If you do your research and put a lot of thought into buying stocks, then yes it is a good idea. If you are picking stocks at random, then it is not a good idea. This is what you need to remember with investing in the stock market.

About the Author: This article was written by Scott Bradley, private equity investor. How Much Money Do You Need To Start Buying Stocks

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UK bank gets emergency support

Friday, September 14, 2007

British bank Northern Rock received emergency loans from the Bank of England yesterday, as it felt the effects of the financial crisis originating in the U.S. subprime mortgage market. Queues formed outside branches as many customers sought to withdraw their savings, and shares fell heavily.

Northern Rock, based in Newcastle, is one of the UK’s largest mortgage lenders, with total assets and loans of £113 billion. Pressure has grown on the bank as other institutions have become less willing to buy mortgage debt, following the American subprime crisis.

The support from the central bank was authorised by the Government and the Financial Services Authority, following assurances that the problems were temporary and the bank remained solvent. Some current mortgages are being used as collateral. The lending is an “unlimited” facility, at an interest rate higher than the base rate. Chancellor of the Exchequer Alistair Darling, speaking on Radio 4’s Today programme, encouraged customers to carry on as normal, stating that “Northern Rock will be able to carry on its business”.

Northern Rock chief executive Adam Applegarth also called for calm, but customers were seen queuing outside branches across the country to withdraw money. It is reported that the company website also crashed under the demand.

Shares in the bank fell 31.5% on Friday, down almost 60% from their highest value this year. Applegarth admitted that profits would be hit, but stated that the bank would adapt to the changes. Shares in other lenders also fell, with Paragon being the most extreme, dropping almost 17%. The FTSE 100 closed down 1.17% (74 points) following a recovery in the afternoon.

The last time the Bank of England acted as “lender of last resort” in this way was in 1973, after the collapse of Cedar Holdings.

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Woman returns home with Christmas turkey, a month after setting out

Tuesday, January 19, 2010

A Scottish woman who set out before Christmas to purchase a turkey finally made it home on Monday, after being cut off by snow for a month. Kay Ure left the Lighthouse Keeper’s cottage on Cape Wrath, at the very northwest tip of Great Britain, in December. She was heading to Inverness on a shopping trip.

However on her return journey heavy snow and ice prevented her husband, John, from travelling the last 11 miles to pick her up. She was forced to wait a month in a friend’s caravan, before the weather improved and the couple could finally be reunited.

They were separated not just for Christmas and New Year, but also for Mr Ure’s 58th birthday. With no fresh supplies, he was reduced to celebrating with a tin of baked beans. He also ran out of coal, and had to feed the couple’s six springer spaniels on emergency army rations.

“It’s the first time we’ve been separated”, said Mr Ure in December. “We’ve been snowed in here for three weeks before, so we are well used to it and it’s quite nice to get a bit of peace and quiet.”

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3 In 1 Credit Report Getting A Copy Of Your Credit Report And Seeing What Needs To Be Improved

By Carrie Reeder

If you are concerned about identify theft or regular credit monitoring, you likely understand the importance of obtaining a copy of your free personal credit report. Neglecting to monitor your credit may prove damaging in the long run. It does not take long for a person to access your information and begin opening accounts in your name. For this matter, consumers are advised to obtain a 3 in 1 credit report every six months.

Benefits of a Credit Report

Aside from protecting yourself against identify theft, credit monitoring is essential for improving your credit rating. Although lenders use credit reports to judge a loan applicant’s creditworthiness, credit reports are also beneficial because they keep us informed of our credit standing. Thus, we can know our odds of obtaining a home loan, auto loan, etc.

[youtube]http://www.youtube.com/watch?v=_mBJc-4a3nM[/youtube]

How to Get a Copy of Your Credit Report

Getting a copy of your 3 in 1 credit report is simple. Furthermore, because reports are viewable online, there is no valid reason not to check your report at least once annually. Every city across the country has a local credit agency which will issue copies of your credit report from all three bureaus. However, if you prefer the convenience of the internet, there are various websites offering 3 in 1 reports for a small fee.

To obtain a copy of your personal reports, you must provide information such as name, address, social security number, etc. Once your information is verified, credit reports are either sent via email, or viewable from the website. Your entire credit history will show before your eyes.

Why Obtain Copies of a 3 in 1 Credit Report?

If you are hoping to improve your credit rating, obtaining a 3 in 1 credit report should be the first step you take. This way, you know exactly what needs improving. The report will list all creditors, current balances, and account standing. Moreover, you should review your report for errors. If inaccuracies are present, contact the bureau and discuss clarifying the matter.

In addition, credit reports include a credit score. This 3 digit number carries a lot of weight. Low scores indicate bad credit, whereas high scores equal good credit. If the goal is to improve credit score, it may be wise to improve in certain areas. For example, avoid late or skipped payments, reduce debt to income ratio, settle collection accounts, and limit your number of credit inquiries.

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Interview with Ton Roosendaal about Elephants Dream and free content movies

Sunday, May 21, 2006

Three days after the Internet release of the free content 3D short Elephants Dream (see Wikinews coverage), we exchanged e-mails with Ton Roosendaal about the reaction to the film, open source filmmaking, and the changes to Blender that resulted from the production. Ton Roosendaal is the lead developer of the Blender 3D rendering and modelling software that was used for the movie. He is also the chairman of the Blender Foundation, a non-profit organization which was formed in support of the software and projects like Elephants Dream.

How much money did the Blender Foundation spend on producing the movie? Has the money been fully recouped by DVD orders and donations?

We still have to finish the final bookkeeping for this project. It has been executed in co-production with the Netherlands Media Art Institute, and we each had our own internal budgeting for the project. When you exclude expenses of pre-production and producer personnel, the total budget was about 120,000 €, of which we covered half. Our contribution was roughly covered half by the DVD sales, and half by European Union support (http://www.uni-verse.org consortium).

One of the most common criticisms of CGI films is focus on technology over content. For instance, Final Fantasy: The Spirits Within flopped with audiences, in spite of being an undisputed technical milestone. I’ve seen many reviews that criticized the plot of “Elephants Dream” as too bizarre or confusing. In retrospect, are you happy with the story development process?

Haha, I knew the story and plot would get a mixed acclaim. There’s a couple of reasons I’d like to mention for it.

First of all; the criticism resembles how people witness Blender itself, too. Many people expect that Free Software is an easy accessible mass audience product. We get a lot of complaints by non-artists that they can’t get into the software easily, whilst the complexity of commercial products like Maya or Houdini is perceived as a confirmation of its “quality”. Apparently an Open Movie created similar expectations with the audience.

Luckily we also got many positive reviews of the artistic result of the movie. It is quite abstract, but definitely has many layers of information, inspiring many of the viewers to see relevant real life messages hidden here.

For this project we’ve teamed up with the Netherlands Media Art Institute, internationally renowned as a resource for video art. So for Elephants Dream, we’ve had the luxury to challenge ourselves to create real independent artistic content as well. The artists had a lot of freedom from the start; they were responsible for the concept, story and creative development of the entire movie. This has resulted in a lot of quite personal choices, based on what the artists liked to do themselves. I really cherish such an approach, it has resulted in a very motivated team working crazy hours the last months to get it all realized.

But, most importantly; the main target of our project was not only to create a 3D movie short, but to experiment with ways to improve the efficiency and quality of open source development. On this aspect only, this project was just a huge success, and the main reason for our sponsors (the DVD pre-sale) to support it. I know they might have liked a cartoonish funny movie with furry animals better, but for that you get already pretty well served by the bigger 3D animation studios. 🙂

I’m the first to admit that – looking back especially – certain aspects worked out quite weakly; there’s loose ends and questionable decisions, especially in story development and continuity. That’s just the risk of doing experiments, and nothing I regret really. The five artists from our user community who were invited to make the movie were young people with no professional background in filmmaking. Their personal incentive to participate in this project was also to learn from it, and to create a good portfolio for their future career. I’ve witnessed them grow in competence in the past year enormously, something I’m incredibly proud of.

On the technical level, the only major criticism I’ve seen of “Elephants Dream” is the character animation, especially in the opening scene — many reviewers felt that the movements seemed a bit unnatural. Do you agree with these criticisms? If so, what do you think can be done to improve on that level?

Yeah, the challenge the artists set themselves – to use quite realistic personages – is also something that easily works against you. In many animation movies they introduce characters in the beginning in a way you get used to their specific characteristic movements, so you accept a certain level of non-realism easily. (Check the weird walk cycles in The Incredibles for example). Another aspect is that we’ve started work on the first scenes, and ended with the last scenes. I can clearly see the animation quality increase, and that whilst the ending scenes were done in much less time due to time constraints.

We also didn’t schedule to do 9.5 minutes of animation either…. Originally it was more like 6. But, it’s always easier to look back to define the right decisions, eh? 🙂

I’m very happy with the reviews we got so far; luckily the movie was perceived as a professional quality product, and reviewed based on comparisons with what the big studios come up with. Even when we couldn’t satisfy all these quality demands, it has luckily not been branded as a pathetic presumptuous attempt by amateurs!

Do you think there is hope for a full-length open movie project in the near future? Would the Blender Foundation be interested in such a project, or do you intend to continue focusing mainly on shorts?

I’d like to wait a little while with defining what a next project would look like. Given the constraints of “organizing projects to improve open source development”, we might have not much choice either. It would probably mean to work with a new team each time, so most likely be based on shorts only. On the other hand, there’s also clear signals that this approach works well, and creates excitement and involvement of a lot of people, also from producers and sponsors. That might enable us to set up a next project based on larger targets. For a full-length feature film however, we should involve a sufficient amount of experienced film makers as well, and/or invite the first team to participate again. That would put a lot of pressure on the required budget…. You can’t do that based on a 1000 DVD pre-sale target. Would more be like 20,000 or so…. 🙂

How did the process of making the movie feed back into the development of Blender? Are there major technical changes that were made only or primarily because of the film?

Already during the pre-production phase the artists have defined the key targets for Blender development. This then was coordinated with the online development community too. I’ve done the most crucial (re-)development mostly myself, though. Especially on the character animation tools, on the rendering pipeline and compositing tools.

It is especially the latter I’m most satisfied with. In 3D movie production the compositing stage creates a giant content bottleneck. By transparently integrating this in our render-pipeline, a very efficient workflow has been achieved. And, not to forget, Blender now also offers the first production-level open source compositor on the market!

The current summary you can find in our work-in-progress release notes.

What are the key technical features in Blender you want to add or improve for future movie projects?

Depends on what the movie is about! There’s always hundreds of features you can work on. However, we’ll have to work on that anyway, movie project or not. There’s a lot of professionals using Blender now, and they can’t wait for the Blender Foundation to do movies! Look at this studio for example:http://www.plumiferos.com/

I read that at least one proprietary software package, Reaktor, was used for the sound effects. Is this because no equivalent free software solution exists yet? Will future projects have a “free software only” policy?

We’ve limited the “Open Source tools” requirement to our own Studio Orange only. That was what we could keep in control at least, and I can tell you it was not always easy even… 🙂

For sound and music we’ve decided from the beginning to seek an external sponsor. We have chosen to work with the best quality studio and composer we could find, preferably using open source, but not as a prerequisite.

My own competence is solely within the CG [computer graphics, Ed.] side of movie making. When it comes to music editing, or video encoding and DVD authoring, I could only decide to choose to work with external parties with proven competences in that area. I have to be practical in projects like this, especially to ensure it will be realized.

Hopefully, now we’ve got so much attention world wide, we can involve more non-CG open source next time, too. I will definitely strive for the maximum here, but it will fully depend on the amount of professional support we can get.

Blender itself was originally closed source freeware, until it was “liberated” through a fundraising campaign. If you could choose one proprietary application to “set free” where such a goal could be realistically achieved, which one would it be?

Well, the “realistically achieved” demand makes it quite difficult. 🙂 Looking back at similar cases, like Mozilla and OpenOffice.org, it was always very circumstantial. It just happens sometimes, you can’t organize something like this to happen in advance. The only common denominator is “a company in troubles”… so, who’s in trouble now?

What is your personal favorite computer-animated full-length film?

Uuuh… that differs every week! Probably Ice Age (the first one). Mostly because they didn’t overdo showcasing 3D technology so much, but created truly adorable characters and great funny gags.

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European Union Council to accept software patent directive

December 22, 2004

The controversial European Union Directive on the Patentability of Computer Implemented Inventions, also called the “software patent directive” has been put to rest for 2004. The directive was expected to easily pass through the European Council’s Fisheries Council on Tuesday, December 21, but was removed from the agenda at the request of Poland’s Minister of Science and Computerisation, Wlodzimierz Marcinski.

The directive’s opponents, some of whom had conceded defeat on Tuesday before the vote was taken, will continue the debate informally until meetings resume in 2005.

Software developers, who supported the European Parliament‘s proposal last year to definitively rule out software patents, welcomed the delay as a chance to reintroduce those provisions into the current draft.

Florian Mueller, campaign manager of NoSoftwarePatents.com, which is supported by three IT companies (1&1, Red Hat, and MySQL AB), applauded Poland’s move.

“The Polish government deserves greatest admiration for its courage!” said Mueller in a press release. “Now Europe has the opportunity to have a constructive debate on the severe shortcomings of the current Council text, under the new Luxembourgish EU presidency next year.”

Germany’s representative also backed the delay, saying it would allow everyone to align the current proposal to changes proposed by the European Parliament last year.

“We were well aware that [the current proposal] has room for improvement with an eye to the objective of arriving at a consensus position between the EU Council and the European Parliament,” Germany’s Federal Minister of Justice Brigitte Zypries said in a Tuesday statement. “We will continue to work constructively toward finding a solution that even better meets the needs of those concerned than the decision taken in May of this year.”

On May 18, 2004 EU Council reached a political agreement on a “Common Position” on the directive which ignored the European Parliament’s vote from last year. The Council vote generated a lot of controversy. Later, the Dutch parliament failed to convince its EU representatives to reverse their vote.

According to the new voting weights which took effect on November 1, the majority needed to formally adopt the Common Position (after translations were done) is questionable. The 20 countries that supported the Directive on May 18 fall short of the new qualified majority by 16 votes.

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