Tuesday, November 6, 2012

Melbourne Cup parade stops a city

AAP

Melbourne Cup favourite Americain came behind rival Dunaden in the Melbourne Cup parade but owner Kevin Bamford wasn't worried.

"We can live with it today," he said as the parade got underway in Melbourne on Monday.

Dunaden took out last year's Cup while Americain, winner in 2010, finished fourth.

Mr Bamford knows the defending Cup champion is his biggest threat, but he also has his eyes on competitors who have crossed the seas to race.

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"All the imports we don't know about," he said when asked who he saw as the biggest threat.

Master trainer Bart Cummings, who has two runners as he chases a 13th Cup win with Sanagas and Precedence, had no such concerns.

"I can't think of any threats," he told AAP.

Mr Bamford and Mr Cummings were among the dozens of members of racing royalty who turned out for the parade that stops a city ahead of the race that stops a nation.

Joining them were tens and thousands of people who had come from all over Australia.

Ros Dodd and Jane Savage came from Adelaide to attend the Cup.

Bess and Bryn Savage have been staking out a front-row spot on the corner of Bourke and Swanston streets since just after 10am.

They travelled from Western Australia as part of a group of 16 to watch the 2012 Melbourne Cup.

"We love it and we love Melbourne," Mrs Savage said.

"We came about five years ago," Mr Savage said.

"We really enjoyed it."

? 2012 AAP
Brought to you by aap

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Sorry, Keynesians, Hurricane Sandy is not great for the economy

New York
-
Is a disaster as catastrophic as Hurricane Sandy actually beneficial to the economy and a nation's populace? Keynesian economists like to suggest such nonsense, but the notions have already been refuted by the likes of Frederic Bastiat.
The destruction that Hurricane Sandy perpetrated on the United States east coast is estimated to be more than $50 billion. It will take months, possibly years, to rebuild that part of the country. It was a tragic incident that has not been seen in the U.S. since Hurricane Katrina ? or perhaps every time economists, like Paul Krugman, open their mouths.


Last week?s disaster would fit to the background of Frederic Chopin?s Prelude Op. 28 No. 24 in D minor, but not into an economic model that would report positive news and endless job creation, which would benefit President Barack Obama or Mitt Romney, if elected Tuesday.


What am I talking about? Who in their right mind is even suggesting Hurricane Sandy was great for the economy? I am referring to a report published in the Financial Times, and elsewhere across the media landscape, which insinuates post-Hurricane Sandy will be a terrific boost into the U.S. economy. Here are some quotes from the referenced report: ?The storm that ravaged the north-east coast of the US last week will hit economic growth in the final quarter of 2012 but will boost it in the first half of next year, company executives and economists say, creating some positive momentum for the winner of this week?s presidential election. ?However, economists are already looking forward to the likely boost to GDP next year from spending on reconstruction. Goldman Sachs estimated that while the storm would reduce GDP growth by up to 0.5 percentage points in the fourth quarter, it would add ?slightly more? than that to growth in the first quarter of 2013. ?Clearing up the damage and rebuilding will also boost demand for many companies. H&E Equipment Services, the construction equipment rental, sales and service chain, said on Thursday it expected to benefit from the reconstruction.? It?s unfortunate to see, even after all these decades, economists purport the notion a disaster invokes economic growth. This herein lies the denunciation by 19th century French economist Frederic Bastiat and his 1850 piece ?That Which is Seen, and That Which is Not Seen.? In Part No. 1 of his articulate article titled ?The Broken Window,? Bastiat talks about a shopkeeper, who has his window broken by some individual and he now must hire someone to fix the damage. The local townspeople are distraught by the news, but they make the case that this will benefit the economy because he must hire the window repairman. However, if his window was never broken in the first place, he would have had money that he could?ve done something else with, such as go to the local cinema, dine out at the local jazz club or purchase clothing from a local tailor. There could?ve been countless other ways he could?ve spent his earnings. This famous idea is now referred to as the Broken Window Fallacy. The notion that we should break everyone?s windows, create endless chaos and provide unimaginable damage is fantastic for an economy is foolishness. Unfortunately, there are members of our society, who are held in high esteem because of certain (worthless) accolades and awards, that actually hold validity to this failed principle. One of these men is economist Paul Krugman. Krugman hasn?t, not yet anyway, said that Hurricane Sandy is great for the economy, but he has shared the concept that disaster equals economic growth. During an interview with CNN, Krugman suggested that an alien invasion would generate wealth, while also proposing that World War II helped end the Great Depression. Both theories are surely incorrect. World War II didn?t conclude the Great Depression. It only profited the military-industrial complex (weapons manufacturers, airplane developers and other defense contractors). What ended the Great Depression were vast spending cuts to the federal budget. Although Krugman likes to (rightly) rail against the neo-conservatives for trying to benefit from wars, he is just as much a culprit because his ideas are contributing to such public policies that lead to endless wars, loss of life and unwanted calamities practiced by the present U.S. administration and its predecessors. In conclusion, in the Keynesian mind, if you want immense economic growth, just initiate obliteration to a society.

Source: http://www.digitaljournal.com/article/336236

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Sunday, November 4, 2012

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FW hosts multi-state wheelchair basketball tournament

FORT WAYNE, Ind. (WANE) - People came to Fort Wayne from Wisconsin, Michigan and even Canada for the Summit City Showcase Adult Wheelchair Basketball Tournament on Saturday, November 3.

In a recent survey, Fort Wayne ranked as the fourth largest in the country for adaptive sports and recreation, our sister station WANE reports.

?The amount of people in Fort Wayne who still don?t know we?re here is kind of astounding. People in California know who we are, but people three blocks down don?t. So, we?d love to have people come check us out and help spread the word.?

The Fort Wayne Turnstone Bandits compete again on Sunday, November 4 from 9 a.m. to noon.

Source: http://www.wishtv.com/dpp/news/indiana/fw-hosts-multi-state-wheelchair-basketball-tournament

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Chicago Mayor Rahm Emanuel Interview with Candy Crowley on CNN?s State of the Union ? 11/4/12

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Source: http://uneditedpolitics.com/2012/11/04/chicago-mayor-rahm-emanuel-interview-with-candy-crowley-on-cnns-state-of-the-union-11412/

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Saturday, November 3, 2012

Fuel shortage means gridlock in lines for gasoline

A sign indicates that no gas is available at a gas station in the Brooklyn borough of New York, Friday, Nov. 2, 2012. Homeland Security Secretary Janet Napolitano on Friday temporarily waived a maritime rule to allow foreign oil tankers coming from the Gulf of Mexico to enter Northeastern ports to help ease a fuel shortage in the areas hardest hit by Superstorm Sandy. Area residents have been struggling to find gas stations with power. At stations with power, residents have faced miles-long lines and dwindling supplies. (AP Photo/Seth Wenig)

A sign indicates that no gas is available at a gas station in the Brooklyn borough of New York, Friday, Nov. 2, 2012. Homeland Security Secretary Janet Napolitano on Friday temporarily waived a maritime rule to allow foreign oil tankers coming from the Gulf of Mexico to enter Northeastern ports to help ease a fuel shortage in the areas hardest hit by Superstorm Sandy. Area residents have been struggling to find gas stations with power. At stations with power, residents have faced miles-long lines and dwindling supplies. (AP Photo/Seth Wenig)

A police officer moves a car that is out of gas, trying to position it so it can fill up, at a gas station in the Brooklyn borough of New York, Friday, Nov. 2, 2012. In parts of New York and New Jersey, drivers face another day of lining up for hours at gas stations struggling to stay supplied. Superstorm Sandy damaged ports that accept fuel tankers and flooded underground equipment that sends fuel through pipelines. Without power, fuel terminals can't pump gasoline onto tanker trucks, and gas stations can't pump fuel into customers' cars. (AP Photo/Seth Wenig)

A cab driver pushes his taxi cab forward in a line for gasoline in the Brooklyn borough of New York, Friday, Nov. 2, 2012. In parts of New York and New Jersey, drivers face another day of lining up for hours at gas stations struggling to stay supplied. Superstorm Sandy damaged ports that accept fuel tankers and flooded underground equipment that sends fuel through pipelines. Without power, fuel terminals can't pump gasoline onto tanker trucks, and gas stations can't pump fuel into customers' cars. (AP Photo/Seth Wenig)

Shortly before the gas ran out, customers wait in line at a Hess station where the line of cars snaked 10 blocks, and at least 60 people waited to fill red gas cans for their generators, in the Gowanus section of Brooklyn, New York Friday morning, Oct 2, 2012. Courier Winston Alfred said he had been there in his van since 4:20 am, and was second in line, when he was turned away four hours later. (AP Photo/David Caruso)

People and vehicles line up at a gas station waiting to fill up, Friday, Nov. 2, 2012, in Newark, N.J. In parts of New York and New Jersey, drivers lined up early Friday for hours at gas stations that were struggling to stay supplied. The power outages and flooding caused by Superstorm Sandy have forced many gas stations to close and disrupted the flow of fuel from refineries to those stations that are open. (AP Photo/Julio Cortez)

(AP) ? When it came to fuel supplies and patience, the New York metro area was running close to empty Friday.

From storm-scarred New Jersey to parts of Connecticut, a widespread lack of gasoline or electricity to pump it brought grousing, gridlock and worse, compounding frustrations as millions of Americans struggled to return to normal days after Superstorm Sandy. A man pulled a gun in one gas-line fracas that led to an arrest.

Lines of cars, and in many places queues of people on foot carrying bright red jerry cans for generators, waited for hours for the precious fuel. And those were the lucky ones. Other customers gave up after finding only closed stations or dry pumps marked with yellow tape or "No Gas" signs.

"EMPTY!" declared the red-type headline dominating the New York Daily News' front page.

"I drove around last night and couldn't find anything," said a relieved Kwabena Sintim-Misa as he finally prepared to fill up Friday morning in Fort Lee, N.J., near the George Washington Bridge, where the wait in line lasted three hours.

Arlend Pierre-Louis of Elmont, on Long Island, said he awoke at 4:30 a.m. to try to get gas.

When he finally found some ? "the one working pump in Elmont" ? the line was so long he gave up and returned to his home, which still has no light or hot water.

At a Hess gas station in the Gowanus section of Brooklyn, the 10-block line caused confusion among passing drivers.

"There's been a little screaming, a little yelling. And I saw one guy banging on the hood of a car," said Vince Levine, who got in line in his van at 5 a.m. and was still waiting at 8 a.m. "But mostly it's been OK."

While the snaking lines and frayed nerves revived memories for some of the crippling Arab oil embargo of the 1970s, a cabdriver stuck in a 17-block line at a Manhattan station remained philosophical.

"I don't blame anybody," said Harum Prince. "God, he knows why he brought this storm."

Many tried to heed Mayor Michael Bloomberg's admonition to "have some patience" as the stricken metro area recovers from the unprecedented storm that upended daily life with power outages, food shortages and other frustrations besides lack of fuel.

But tempers boiled over in some places.

Arguments in gas station queues in New York's Queens borough and in Pelham led to arrests, authorities said. In the first case, a man pulled a gun, and in the second police confiscated a box cutter. No one was hurt.

Power outages that lingered across the region prevented some gas stations that had fuel from being able to pump it, officials said. But fuel supplies themselves were badly disrupted by the storm.

Sandy damaged ports that accept fuel tankers and flooded underground equipment that sends fuel through pipelines. Without power, fuel terminals can't pump gasoline onto tanker trucks, and gas stations can't pump fuel into customers' cars.

The Port of New York and New Jersey was slowly starting to accept tankers, but some cargo was being diverted to the Port of Virginia. Federal requirements for low-smog gasoline have been lifted, and fuel trucks are on their way to the area.

Officials said they were working to speed the flow of fuel.

On Friday, Homeland Security Secretary Janet Napolitano temporarily waived a maritime rule to allow foreign oil tankers coming from the Gulf of Mexico to enter Northeastern ports. The action, she said, would "remove a potential obstacle to bringing additional fuel to the storm-damaged region."

New York Gov. Andrew Cuomo, meanwhile, signed an executive order waiving the state's requirement that fuel tankers register and pay a tax before unloading.

Tankers, he said Friday, are now making "great progress" delivering fuel to distribution centers.

"No reason to panic," the governor urged.

Bloomberg told reporters Friday that the gas-supply issues "are starting to be alleviated" through the temporary regulatory fixes and other developments. He noted a plan is in place to ensure that police, fire and other emergency vehicles have the fuel they need. Buses, including school buses, are also a priority.

"But the bottom line is that the gasoline system is getting back on its feet," he said.

Delays due to storms, the mayor added, "have happened before. They spring up very quickly, and they go away very quickly. We basically have a supply system ? as it comes in we use it. If it stops coming in, we're in trouble."

But keeping perspective could be a challenge as the gas lines lengthened.

Many service centers along the Garden State Parkway and the New Jersey Turnpike were so full that cars trying to pass at highway speeds sometimes had to swerve to avoid them.

One New Jersey town, Belleville, passed an emergency ordinance that rations gas: Effective Monday, people with odd numbered license plates (or driver's licenses for individuals filling gas containers) will only be allowed to get gas on odd-numbered days; even-numbered plates on even-numbered days.

In Connecticut, traffic jams created by New Yorkers exiting from Interstate 95 to take advantage of the stations that were open were "making it difficult for everybody," said Greenwich police Lt. Kraig Gray.

Police monitored lines in many places, including a Hess station in Fort Lee, N.J., where an officer was seen ordering a man out of line after sneaking in from a side street.

Among those waiting there, Kenneth Kelly of Englewood Cliffs took it all in stride.

"It ain't that bad. I could be in Queens," he said, referring to the confrontations there. "I've seen a lot of bad in my life, people getting sick and things like that. This is what I call an inconvenience. Now, losing something like a house, that would be bad."

___

Associated Press writers David Porter, Katie Zezima and Richard Pienciak in New Jersey; Amanda Barrett, Eileen AJ Connelly, Meghan Barr and Jennifer Peltz in New York; and Alicia Caldwell in Washington, D.C., contributed to this report.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/f70471f764144b2fab526d39972d37b3/Article_2012-11-02-Superstorm-Running%20on%20Empty/id-dcc592a58e4a4f0bb15bd4d51c80dd23

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Penn St. officials arraigned on new charges in Sandusky case

HARRISBURG, Pa. (AP) -- Two Penn State administrators were arraigned Friday on new accusations they hushed up child sexual abuse allegations against former assistant football coach Jerry Sandusky.

The hearing for Gary Schultz and Tim Curley on charges of endangering the welfare of children, obstruction and conspiracy lasted about 10 minutes in a suburban Harrisburg courtroom. Bail was set at $50,000.

Afterward, Schultz attorney Tom Farrell talked of the positive things the men have accomplished, along with their co-defendant, former Penn State president Graham Spanier.

''People of this character do not do, have not done what they're charged with,'' Farrell said.

Curley and Schultz shook hands and greeted each other warmly inside the courtroom but said little during the proceeding, after which they drove away to be fingerprinted.

Spanier has been out of state at a relative's funeral and will be arraigned on Wednesday, the judge said.

The three men were accused in a withering 39-page grand jury report that was made public Thursday of conspiring to conceal complaints about Sandusky, which gave him time and access to molest more boys before his arrest nearly a year ago.

Prosecutors alleged the men decided not to alert police or child welfare authorities after getting a 2001 report of Sandusky sexually abusing a boy in a team shower.

Attorney General Linda Kelly said at a Capitol news conference Thursday that all three ''knowingly testified falsely and failed to provide important information and evidence.''

Spanier is charged with perjury, obstruction, endangering the welfare of children, failure to properly report suspected abuse and conspiracy. Curley and Schultz were first charged a year ago, with perjury and failure to report abuse. Trial on those counts is scheduled for January.

Spanier's lawyers asserted his innocence and described the new charges as an attempt by Gov. Tom Corbett to divert attention from the three-year Sandusky investigation that began under his watch as attorney general.

Corbett spokesman Kevin Harley called the defense statement the ''ranting of a man who has just been indicted for covering up for a convicted pedophile.''

Sandusky, who spent decades on the Penn State football staff and was defensive coordinator during two national championship seasons, was convicted in June of sexually abusing 10 boys over 15 years. He has maintained his innocence and is serving a 30- to 60-year prison sentence.

Curley, 58, is the athletic director on leave while he serves out the last year of his contract. Schultz, 63, has retired as vice president for business and finance.

In a pair of pretrial motions filed this week regarding their earlier charges, Curley and Schultz both focused on the role played by Cynthia Baldwin, the university's then-chief counsel who accompanied them to their grand jury appearances. They argued charges should be dismissed, or grand jury testimony suppressed, because they believed Baldwin was representing them.

Baldwin's grand jury testimony was a key piece of the evidence used to support the new charges.

''We were stunned, we were flabbergasted that she would testify against our clients,'' said Curley's lawyer, Caroline Roberto.

Farrell said Baldwin, a former state Supreme Court justice, ''has betrayed her clients, her profession and testified falsely.''

Baldwin's lawyer Charles De Monaco referred a reporter to a statement issued this summer in which he defended her, saying she ''at all times fulfilled her obligations to the university and its agents.''

Spanier, 64, of State College, had been university president for 16 years when he was forced out after Sandusky's November 2011 arrest. He remains a faculty member but was placed on paid leave Thursday.

Source: http://sports.yahoo.com/news/charges-bring-penn-state-officials-063752769--spt.html

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