gvpme.com

Monday, November 9, 2009

China has executed nine people for taking part in July’s ethnic unrest in the western city of Ürümqi, according to a local state news agency.

The official Xinhau news agency reported that the nine were the first of those convicted in the riots to be executed. It said the sentences were carried out with the approval of the country’s supreme court; however, it was not immediately clear where the executions were carried out.

Violence erupted in the Xinjiang regional capital of Ürümqi on July 5, after Uighurs protested the deaths of two Uighur factory workers in a brawl with Han Chinese in southern China’s Guangdong province.

Uighurs said the protests turned violent when police cracked down on the rally. Protesters then attacked ethnic Han people in the regional capital. Two days later, Han Chinese staged revenge attacks. Nearly 200 people are believed to have been killed, but the official toll is much lower.

At least 21 people have been sentenced in connection with the Ürümqi riots, in crimes ranging from murder to arson, robbery, and destruction of property. Twelve people have been sentenced to death.

Sunday, January 11, 2009

While it was just a joke, the Federación Nacional de Cafeteros de Colombia doesn’t find a recent “Mother Goose and Grimm” comic terribly funny.

In what the coffee growers association calls “an attack on national dignity and the reputation of Colombian coffee,” the characters in a comic strip by Pulitzer Prize-winning cartoonist Mike Peters call into question the relationship of Colombian coffee growers and the crime syndicates of Columbia.

The cartoonist is being sued not only for “damages [to] the intellectual heritage” of the coffee, but also “moral compensation. A public manifestation,” to the tune of $20 million.

At the start of a week-long series of strips, a dog character named “Ralph” finds out that part of chemist and food storage technician Fred Baur‘s remains was buried in a Pringles can, upon his last wishes. Baur’s best known innovation, among multiple, was the patented can and packing method for the Pringles potato chip. The character theorizes what other remains might be interred in their food packaging. Eventually, the dog states that “when they say there’s a little bit of Juan Valdez in every can, maybe they’re not kidding.”This play on an old advertising slogan refers to fictional character Juan Valdez, created by the Federación Nacional.

In a statement Peters says:

Julio Cesar Gonzalez, El Tiempo newspaper’s famous cartoonist, told the BBC that the lawsuit is “a real waste of time.”

In 2006, the Federación Nacional sued Café Britt over their advertising campaign titled “Juan Valdez drinks Costa Rican coffee. In a counter-suit, Britt presented an affidavit from a Costa Rican man named “Juan Valdez”, acknowledging that he drinks Costa Rican coffee, and that the name is too generic to be exclusive. A variety of legal challenges and charges from both sides were eventually dropped. The phrase was actually first used in a 1999 speech by Jaime Daremblum, then-Costa Rican ambassador to the United States.

Mother Goose and Grimm appears in over 800 newspapers worldwide; Peters has won the Pulitzer for his editorial cartoons for the Dayton Daily News. Thirty years ago, his editorial cartoon about electricity prices featured Reddy Kilowatt, an electricity generation spokescharacter. The Daily News defended that comic image in the United States Supreme Court, winning on the basis that “the symbol was not selling a product”, and thus the satire was legally permissible.

Peters drinks Colombian coffee.

Thursday, September 21, 2017

On Monday night, New Jersey, US-based toy retail giant Toys R Us filed for bankruptcy in the US as well as in Canada. The retailer filed it from Richmond, Virginia for Chapter 11 bankruptcy code in the US, and a judge allowed a loan of over US$2 billion.

According to the filing, the retail chain owns US$6.6 billion in assets, but has a debt of US$7.9 billion. They were under a roughly US$5 billion debt since the company underwent a three-way acquisition in 2005. Kohlberg Kravis Roberts, Bain Capital, and Vornado Realty Trust acquired Toys R Us for around US$7 to US$7.5 billion. After the US judge approved a loan, Toys R Us received about US$3 billion from the lenders to continue the business and survive a competitive market, and restructure their business model. E-commerce giant Amazon.com, Walmart and Target are some of the competitors for the conventional ‘brick and mortar’ toy shop, with lower priced-merchandise and fast, cheap delivery. In a conference call in June, CEO Dave Brandon said “very, very aggressive pricing online” was causing problems. He also said the company was experiencing “significant weakness in demand for their products globally”. Toys R Us are to clear a debt of US$400 million by May 2018.

Toys R Us said they would continue to operate for the holiday season. Bankruptcy lawyer Jeff Gleit said Toys R Us “need to do both a financial restructuring as well as an operational restructuring” and “needs to modernize with the times”. Last holiday season, Toys R Us made sales around US$4.5 billion. Overall, the company reported a US$29 million loss in 2016. CEO Brandon said, “Our objective is to work with our debt holders and other creditors to restructure the US$5 billion of long-term debt on our balance sheet, which will provide us with greater financial flexibility to invest in our business”.

Toys R Us employs more than 60 thousand people in 38 countries around the world in more than 1600 stores. The company’s stocks fell by six percent after filing for Chapter 11 protection. US bankruptcy code Chapter 11 allows the company to restructure under a plan approved by the court. The company would also be shielded from creditors’ claims during the process. For the stores located in Canada, Toys R Us filed bankruptcy in Ontario and are to undergo reorganisation. However, 259 stores located outside the US or Canada will not undergo reorganisation, the company said.

Over 300 US-based retailers have filed for bankruptcy this year, and hundreds of stores closed.

Monday, June 21, 2010

Sweden’s first royal wedding since 1976 took place Saturday when Crown Princess Victoria, 32, married her long-time boyfriend and former personal trainer, Daniel Westling, 36. The ceremony took place at Stockholm Cathedral.

Over 1,200 guests, including many rulers, politicians, royals and other dignitaries from across the world, attended the wedding, which cost an estimated 20 million Swedish kronor. Victoria wore a wedding dress with five-metre long train designed by Pär Engsheden. She wore the same crown that her mother, Queen Silvia, wore on her wedding day 34 years previously, also on June 19. Victoria’s father, King Carl XVI Gustaf, walked Victoria down the aisle, which was deemed untraditional by many. In Sweden, the bride and groom usually walk down the aisle together, emphasising the country’s views on equality. Victoria met with Daniel half-way to the altar, where they exchanged brief kisses, and, to the sounds of the wedding march, made their way to the the silver altar. She was followed by ten bridesmaids. The couple both had tears in their eyes as they said their vows, and apart from fumbling when they exchanged rings, the ceremony went smoothly.

Following the ceremony, the couple headed a fast-paced procession through central Stockholm on a horse-drawn carriage, flanked by police and security. Up to 500,000 people are thought to have lined the streets. They then boarded the Vasaorden, the same royal barge Victoria’s parents used in their wedding, and traveled through Stockholm’s waters, accompanied by flyover of 18 fighter jets near the end of the procession. A wedding banquet followed in the in the Hall of State of the Royal Palace.

Controversy has surrounded the engagement and wedding between the Crown Princess and Westling, a “commoner”. Victoria met Westling as she was recovering from bulemia in 2002. He owned a chain of gymnasiums and was brought in to help bring Victoria back to full health. Westling was raised in a middle-class family in Ockelbo, in central Sweden. His father managed a social services centre, and his mother worked in a post office. When the relationship was made public, Westling was mocked as an outsider and the king was reportedly horrified at the thought of his daughter marrying a “commoner”, even though he did so when he married Silvia. Last year, Westling underwent transplant surgery for a congenital kidney disorder. The Swedish public have been assured that he will be able to have children and that his illness will not be passed on to his offspring.

Westling underwent years of training to prepare for his new role in the royal family, including lessons in etiquette, elocution, and multi-lingual small talk; and a makeover that saw his hair being cropped short, and his plain-looking glasses and clothes being replaced by designer-wear.

Upon marrying the Crown Princess, Westling took his wife’s ducal title and is granted the style “His Royal Highness”. He is now known as HRH Prince Daniel, Duke of Västergötland. He also has his own coat-of-arms and monogram. When Victoria assumes the throne and becomes Queen, Daniel will not become King, but assume a supportive role, similar to that of Prince Phillip, the husband of the United Kingdom’s Queen Elizabeth II.

Friday, April 3, 2009

General Motors (GM) and Chrysler will receive bridge loans from the government of Canada and the provincial government of Ontario, however no more will be forthcoming from either Canadian or US governments unless the companies can reinvent themselves.

“This is a regrettable but necessary step to protect the Canadian economy. We are doing this on the assumption that we obviously cannot afford either in the United States or Canada a catastrophic short-term collapse.” said Stephen Harper, Prime Minister of Canada.

“We cannot, we must not, and we will not let our auto industry simply vanish. This industry is, like no other, an emblem of the American spirit; a once and future symbol of America’s success,” said Barack Obama, President of the United States. “These companies – and this industry – must ultimately stand on their own, not as wards of the state.”File:Sinsheim quer.jpg

Chrysler will receive CA$1 billion and may in fact be eligible for as much as CA$4 billion. If Chrysler succeeds in the next 30 days with a restructuring plan it would be eligible for a US$6 billion loan. A part of Chrysler’s restructuring plan must include a partnership with Fiat within 30 days to appease the US administration. Fiat is a supplier of smaller fuel-efficient vehicles, and the merger will help Chrysler to be viable in the North American market. A Chrysler court bankruptcy would inevitably lead to it being sold off.

As a part of Chrysler’s restructuring plans, Tom LaSorda, the president of Chrysler announced that Canadian operations would fold if it does not receive both the US commitment of $2.3 billion of aid and a new Canadian Auto Workers CAW contract to reduce all-in costs by CA$19 per hour. As a result of this announcement Chrysler’s auto sales volume in Canada dropped 23% compared to March of 2008.

GM has until the end of May to restructure its company to receive up to CA$7.5 billion. As part of the companies restructuring, General Motor’s chief executive Rick Wagoner was replaced Sunday with Fritz Henderson, the current chief operating officer. Henderson spoke out on Tuesday that GM has submitted a restructuring plan which would close five plants, and this may be increased to meet the requirements for financial aid. He is in full compliance with Obama’s auto task force to seek bankruptcy if GM cannot negotiate with their unions, bondholders and others.

GM recently brought forward the “GM Total Confidence” program providing consumer purchase protection for customers who lose their job for economic reasons within the first two years from purchase. As a result of Chrysler’s restructuring announcement in Canada, GM’s Canadian vehicle sales volume fell only 17.3% compared to 2008, an increase from the previous month.

GM must reduce some of its legacy costs which include its pensions and union health care costs. A part of GM’s ailments arose from investing in supplying truck and SUVs during an economy of high gas prices when consumers were demanding fuel efficient vehicles.

Tony Clement, Canada’s Minister of Industry, is hoping that the CAW will support the restructuring process and re-negotiate their agreement. Whereas a United Auto Workers negotiator has said, “I don’t see how the UAW will do anything until they see what the bondholders will give up.”

The Obama administration is looking toward bankruptcy proceedings for the automakers, “as a mechanism to help them restructure quickly and emerge stronger. [It will] quickly clear away old debts that are weighing them down. What we are asking is difficult. It will require hard choices by companies. It will require unions and workers who have already made painful concessions to make even more. It will require creditors to recognise that they cannot hold out for the prospect of endless government bailouts.” said Obama.

The auto parts suppliers and IT software exporters in India have already been affected by the declining auto sales. GM and Chrysler software contracts provide US$300 to 350 million a year to vendors in India. As well these two major automakers usually award US$1 billion contracts to auto parts suppliers. “We are worried and closely watching the developments in the US to gauge the impact. The decline in auto sales in the US has already hit the order books of Indian suppliers,” said a Delhi auto parts supplier.

“Going forward, the industry will undoubtedly be smaller, but if our efforts are successful it will be viable and it will support good jobs for Canadians,” said Clements.

Betty Sutton, Ohio’s Congresswoman put forward the CARS act which provides a US$3,000 to 5,000 incentive for those who trade in their vehicle for a fuel-efficient car. “It clearly stimulates the economy, and it gets the consumer into the showroom and gets them buying again. But importantly — and this is what I particularly like about it — it really helps the environment quite a bit in two respects.” said William Clay Ford Jr., executive chairman of Ford Motor Co.

Ford Motor Company has not come forward with requests for assistance.

Since December GM and Chrysler have received US$17.4 billion government loans.

Saturday, September 29, 2007

After the launch of “Halo 3” on Tuesday (September 25), Microsoft promoted a brand new Xbox360 racing game “Project Gotham Racing 4” (PGR4) with a friendship match as a “TOP on TOP” competition between Taiwanese World Cyber Games (WCG) PGR3 Delegate You-cheng Liu and “Drift Master of Taiwan” Po-hsiung Chou at YAMAHA MotorTown in Taipei City, Taiwan.

Before the friendship match, Cary Chen (Senior Product Marketing Manager of Entertainment and Device Division, Microsoft Taiwan) show the new features on PGR4 to the press, VIPs, and guests and praised the “PGR” game series with the “Kudos” skill points. He remarked that in the “PGR4”, not only joined new car type and racing motorcycles, but also add Dynamic Weather System feature for the performance of new different type experiences on weathers, driving, and racing lane.

Chen also remarked that PGR series is surely respected because of the racing game competition factor on WCG from 2006. This “PGR” series can realize lots of dreams of players on making some special skills which can’t be done on reality. With the Xbox Live linking, PGR series has successfully made a great achievement.

After the presentation and demos, Microsoft Taiwan held a friendship match. Before the match, Y. C. Liu welcomed P. H. Chou with Chou drove a BMW car to the main entrance. After the entrance, the match started. With the witnesses of VIPs, press, and players, Liu won the friendship match by the turning fault of Chou. Even though Chou wanted to invite Live as a racer in reality after the match, but Liu temporarily declined with his consideration.

Microsoft Taiwan announced that the Chinese Version of “PGR4” will be available on October 5, and welcomed players competing with “I want ‘PGR4’ Helmet!” photo competition. And also, “Yamaha PGR4 Cup – Taiwan Driving Master Championship” will be held and set qualification section in October and final section in December of Information Month in Taipei.

Tuesday, February 1, 2022

On Monday, the United Arab Emirates announced it would impose a federal corporate tax of 9% on business profits, effective from June 1, 2023.

The tax will be levied from all corporations except those involved in “extraction of natural resources”. Businesses with profits up to 375 thousand dirhams will be categorised as small businesses and will be exempted from the tax.

The Emirates has long been a low tax country with no personal tax. The Ministry of Finance said the tax was being imposed to combat tax avoidance and to realign the country on major issues such as the digitalisation of the global economy. It may be linked to a recent international agreement on a minimum global corporate tax rate but the Ministry did not elaborate.

Monday, June 21, 2010

Sweden’s first royal wedding since 1976 took place Saturday when Crown Princess Victoria, 32, married her long-time boyfriend and former personal trainer, Daniel Westling, 36. The ceremony took place at Stockholm Cathedral.

Over 1,200 guests, including many rulers, politicians, royals and other dignitaries from across the world, attended the wedding, which cost an estimated 20 million Swedish kronor. Victoria wore a wedding dress with five-metre long train designed by Pär Engsheden. She wore the same crown that her mother, Queen Silvia, wore on her wedding day 34 years previously, also on June 19. Victoria’s father, King Carl XVI Gustaf, walked Victoria down the aisle, which was deemed untraditional by many. In Sweden, the bride and groom usually walk down the aisle together, emphasising the country’s views on equality. Victoria met with Daniel half-way to the altar, where they exchanged brief kisses, and, to the sounds of the wedding march, made their way to the the silver altar. She was followed by ten bridesmaids. The couple both had tears in their eyes as they said their vows, and apart from fumbling when they exchanged rings, the ceremony went smoothly.

Following the ceremony, the couple headed a fast-paced procession through central Stockholm on a horse-drawn carriage, flanked by police and security. Up to 500,000 people are thought to have lined the streets. They then boarded the Vasaorden, the same royal barge Victoria’s parents used in their wedding, and traveled through Stockholm’s waters, accompanied by flyover of 18 fighter jets near the end of the procession. A wedding banquet followed in the in the Hall of State of the Royal Palace.

Controversy has surrounded the engagement and wedding between the Crown Princess and Westling, a “commoner”. Victoria met Westling as she was recovering from bulemia in 2002. He owned a chain of gymnasiums and was brought in to help bring Victoria back to full health. Westling was raised in a middle-class family in Ockelbo, in central Sweden. His father managed a social services centre, and his mother worked in a post office. When the relationship was made public, Westling was mocked as an outsider and the king was reportedly horrified at the thought of his daughter marrying a “commoner”, even though he did so when he married Silvia. Last year, Westling underwent transplant surgery for a congenital kidney disorder. The Swedish public have been assured that he will be able to have children and that his illness will not be passed on to his offspring.

Westling underwent years of training to prepare for his new role in the royal family, including lessons in etiquette, elocution, and multi-lingual small talk; and a makeover that saw his hair being cropped short, and his plain-looking glasses and clothes being replaced by designer-wear.

Upon marrying the Crown Princess, Westling took his wife’s ducal title and is granted the style “His Royal Highness”. He is now known as HRH Prince Daniel, Duke of Västergötland. He also has his own coat-of-arms and monogram. When Victoria assumes the throne and becomes Queen, Daniel will not become King, but assume a supportive role, similar to that of Prince Phillip, the husband of the United Kingdom’s Queen Elizabeth II.