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Saturday, March 24, 2018

On Thursday, Charles Lazarus, the founder of United States toy retailer Toys “R” Us, died in Manhattan, New York, New York of respiratory failure. He was 94. His death came a week after Toys “R” Us announced that all of the stores were closing.

Toys “R” Us issued a statement in which they said, “There have been many sad moments for Toys “R” Us in recent weeks, and none more heartbreaking than today’s news about the passing of our beloved founder, Charles Lazarus. He visited us in New Jersey just last year and we will forever be grateful for his positive energy, passion for the customer and love for children everywhere. Our thoughts and prayers are with Charles’ family and loved ones.”

Michael Goldstein, who was a close friend and former Toys “R” Us chairman, said: “He was the father of the toy business. He knew the toys and loved the toys and loved the kids who would shop in the stores. His face lit up when he watched kids playing with toys.” In a phone interview Goldstein said that Charles Lazarus died in Manhattan.

Lazarus no longer held a stake in the chain, CNN reported. Lazarus took over his father’s bicycle repair shop in 1948 at the age of 25 and changed it to baby furniture. He opened the first Toys “R” Us store in 1957. Lazarus had remained its CEO until 1994.

Monday, July 17, 2006

The leaders of the Group of Eight (G8) nations met over the weekend in St. Petersburg in Russia for the 32nd G8 Summit, held under Russia’s presidency, to discuss the ongoing Israel-Lebanon crisis, the stalled world trade talks and other issues. They also met with other world leaders, the UN Secretary General Kofi Annan and World Trade Organisation chief Pascal Lamy.

Friday, December 23, 2005

The Conservative Party of Canada leader Stephen Harper today made bold claims about the Canadian Arctic region at a campaign stop in Winnipeg, “The single most important duty of the federal government is to protect and defend our national sovereignty.” . The prime minister-hopeful stated, “There are new and disturbing reports of American nuclear submarines passing though Canadian waters without obtaining the permission of —or even notifying — the Canadian government.”

Harper promised a significant increase in military presence in the Canadian region, which has had notable soveriegnty disputes with the United States, Russia, Denmark and Norway.”You don’t defend national sovereignty with flags,” Harper said. “You need forces on the ground, ships in the sea, and proper surveillance.”

Among other promises, Harper stated he would station three armed naval heavy ice breakers in the area of Iqaluit with 500 regular force personnel, recruit 500 more Canadian rangers, and build a new army training center in the area of Cambridge Bay on the Northwest Passage.File:Stephen Harper voa.jpg

“As prime minister, I will make it clear to foreign governments — including the United States — that naval vessels traveling in Canadian territorial waters will require the consent of the government of Canada,” Harper stated.

The Conservative Party Website states this ““Canada First” Northern Strategy will increase surveillance, navy, army and air force presence”.

The Liberal Party of Canada, the Conservatives’ most powerful rival in the election, quickly posted a rebuttal on their website. They claim Stephen Harpers stated defense budget of $5.3(CAD) billion over 5 years is not enough to afford the two polar icebreakers, which the Liberal party claims will cost $3(CAD) billion with the party estimating an upkeep of $150(CAD) million per year. “Where does Mr. Harper plan to find another $1 billion?” the party asked in their rebuttal.

The Arctic may be an important issue in the future for Canadians, as scientists expect the fabled Northwest Passage of the Arctic to open up for year round shipping by 2050 as a result of global warming. According to the online encyclopedia Wikipedia, trade routes from Europe to the Far East could save 4000 km through the passage, as compared to the current routes through the Panama Canal.

Canada last flexed its muscle in the Arctic in 2004 in its most massive Arctic exercise ever, with six hundred personnel from the three services (army, air force, navy) involved in a large exercise in the Baffin Islands.

Canadians are scheduled to go to the polls on January 23, 2006 in an early election as a result of a non-confidence motion in parliament against the former ruling Liberal party.

Friday, April 29, 2011

Apple Inc. CEO Steve Jobs announced on Wednesday that iPhone technology is not being used to monitor the location of its customers. The scandal arose from concern that data collected by Apple would make it possible for anyone with access to a person’s private computer to retrieve information about their movements.

Jobs acknowledged that while iPhones keep a database of Wi-Fi and cell tower hotspots these do not reveal anything about individual users’ location. “That’s what people saw on the phone and mistook it for location”

In a separate statement, Apple clarified the device is merely caching data in order to improve the speed of locating users in the future.

Jobs confirmed during the interview that Apple would testify before the United States Congress. “They have asked us to come and we will honour their request, of course.”

Apple have since made plans to release software updates that will cut the size of the wireless hotspot location database stored on its iPhones.

The data scandal, coined ‘Location-gate’ has overshadowed news of Apple’s announcement for sales of the delayed white iPhone 4 which will begin shipping from Thursday.

Thursday, November 8, 2007

Batters overpower pitchers on this the second day of 2007 BWC. Italy, Chinese Taipei, Japan, and Canada easily won by ending early the games against their opponents as their aggressive hitting made it look like batting practice.

Sunday, October 7, 2007

Cecile Willert is running for the Green Party of Ontario in the Ontario provincial election, in the Ajax—Pickering riding. Wikinews’ Nick Moreau interviewed her regarding her values, her experience, and her campaign.

Stay tuned for further interviews; every candidate from every party is eligible, and will be contacted. Expect interviews from Liberals, Progressive Conservatives, New Democratic Party members, Ontario Greens, as well as members from the Family Coalition, Freedom, Communist, Libertarian, and Confederation of Regions parties, as well as independents.

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.”