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Wednesday, June 20, 2007

If you are in the market for new bedding, and not too concerned with the new United States guidelines for mattress fire resistance, now might be a good time to buy. Mattresses sold in the U.S. must meet new federal guidelines for flammability starting on July 1.

The flammability of mattress sets sold in the U.S. is subject to a new mandatory federal regulation requirement passed by the Consumer Product Safety Commission (CPSC) on February 16 last year. The requirement, costing mattress manufacturers an estimated $100 million to meet, is scheduled to take effect on July 1. The commission anticipates that the new standards will save 270 lives and 1,330 injuries per year from mattress fires.

“We’ve passed a new open flame regulation and the whole idea behind the regulation is to make sure that if a mattress catches on fire that the fire burns slowly enough that people have enough time to get out of the house and get away,” said Hal Stratton, chairman of the CPSC

Radio and TV advertising spots are reacting to the new regulation by discounting prices on mattresses that fail to meet the new guidelines. Sales made in the mattress industry, like the automobile industry, are highly negotiable on price. The new regulation does not appear to have much “teeth” for mattresses already in the distribution pipeline, but it is a new law that is a bargaining position for potential buyers.

Sunday, March 4, 2018

On Thursday in a meeting at New York Attorney General Eric Schneiderman’s office, Maria Contreras-Sweet Group, billionaire Ron Burkle, and a number of other investors acquired assets of The Weinstein Company for reportedly about US$500 million. The Weinstein Company had financial difficulties and was nearly bankrupt after Harvey Weinstein was accused of sexual misconduct by dozens of women last year, which impacted the business budget.

At least two of The Weinstein Company board of directors — consisting of Tarak Ben Ammar, Lance Maerov and Bob Weinstein — participated in the meeting, according to The New York Times. Maria Contreras-Sweet Group was represented by Maria Contreras-Sweet and Ron Burkle. The New York Attorney General Eric T. Schneiderman was also in the meeting.

Maria Contreras-Sweet Group agreed to pay The Weinstein Company’s debt, sized at US$225 million, reports indicated. The acquisition would save around 150 jobs held at the Weinstein Company. Maria Contreras-Sweet Group announced the deal, also confirmed by The Weinstein Company. The deal was expected to take about 40 days to be completed.

The agreement required Maria Contreras-Sweet Group to protect the jobs of company employees, and establish a victim compensation fund which would compensate victims of Harvey Weinstein’s alleged sexual misconduct while not rewarding the “bad actors”, as Schneiderman put it — people who had contributed to the sexual misconduct. The victim compensation fund would allegedly be around US$90 million, according to reports.

New York Attorney General Eric Schneiderman filed a lawsuit against The Weinstein Company in early February of this year. He reportly indicated he might settle the lawsuit after the deal is finalized.

Maria Contreras-Sweet Group said they would use the assets in creating a new movie studio with a majority-female leadership.

The Weinstein Company said on Monday, three days before the deal announcement, it intended to file for bankruptcy as it could not find a buyer that would keep it afloat until the deal would be finalized.

The Weinstein Company was founded in 2005.

Friday, March 20, 2009

Following the Pilkhana massacre which occurred February 25 and 26 leaving 74 dead and the inferno at the Bashundhara City shopping mall complex March 13 leaving seven dead, Prime Minister Sheikh Hasina said security measures are being tightened countrywide across Bangladesh.

Fire drills will be enacted at all key-point installations (KPI). Fire fighting systems will be examined by the fire brigade and the public works department (PWD) to ensure functionality. Security measures will be enhanced supplementing areas under private security such as at the Bashundhara City Complex.

The Fire Service and Civil Defence Department requires modernization and needs new equipment to fight fires past the sixth floor of buildings. The Fire Brigade says it needs turntable ladders, snorkels, foam-tenders, lighting units, emergency tenders, fireproof uniforms, and rescue ropes for fire fighting and rescue operations. Transportation to fires is also an issue due to narrow roads, low electrical wires and congestion.

The Bangladesh National Building Code requires fire fighting equipment installed in buildings over seven floors. This code is to be monitored by authorities to ensure compliance with the new guidelines and to make sure buildings are being maintained.

The Bashundhara City Complex opened Monday for shoppers two days after Friday’s blaze. A probe is underway to determine the cause of the fire and to assess structural damage.

Loss of life was minimized as the blaze broke out on a Friday, the beginning of the weekend in Bangladesh, so offices in the upper floors were empty. The lower eight floors are used for shopping and the upper floors are all Bashundhara Group offices.

The mall is valued at Tk 7.0 billion (US$100 million). It is not known if the complex is covered by fire insurance.

It is estimated that it will take over two years to rebuild the area damaged by flames which were burned down to a skeleton. Bashundhara City’s technical advisor, Latifur Rahman, estimated damages at Tk 2.0 billion (US$29m).

Only one television cameraman has been allowed in to film the burnt area. None of the 2,500 shops, cinemas or cafes were burnt by the inferno. The seventh and eighth floors still experience smoke damage, and there was water damage to merchandise.

A three member committee is currently investigating the cause of the fire which will consist of Iqbal Khan Chowdhury, joint secretary of the ministry, representatives of the police, IGP Noor Muhammad, and fire brigade, Director General Abu Nayeem Md Shahidullah. The committee is required to report within the week with their findings. The forensics department is also sifting through the burnt remains.

The Dhaka Chamber of Commerce and Industries has also formed a committee which has begun interviewing witnesses and recording their testimony alongside the government committee.

It has been discovered that 150 closed circuit cameras were not being used when the fire started. Another mystery is why the mall fire fighting system has been found unused.

“In the shopping mall there is an ultra-technology elevator which runs even without electricity but we have found that locked,” Iqbal Khan Chowdhury, joint secretary (Police) of the home ministry, said. “Why the fire burnt so fiercely is a matter to think. We have to see if there was any incendiary substance there. These matters seem to be mysterious.”

Mall management has been asked to submit substances and items which would have been in the upper floors when the fire started. The fire erupted on the 17th floor and spread quickly to the two floors above and engulfed the three floors below. The aerial ladders belonging to the Fire Service and Civil Defence reached as high as the 13th floor of the 21-storey building.

Videos have been sent to the United States (US) for examination to assist in determining the cause of the fire and to help in the damage assessment. Experts from the US are expected to arrive soon.

Firefighters were brought to the rooftop of the 20-storey tower by helicopter. The only fatality in this operation was Baki Billa, a firefighter of Bashundhara City firefighting department, who fell when climbing down a rope from a helicopter to the roof of the building. Three other firefighters made the transition safely. At this same time, the chief security officer was safely rescued by the Bangladesh Air Force helicopter, a Bell 212. Six security officers of the complex also lost their lives.

Tuesday, March 29, 2005A team of Australian surgeons yesterday reattached both hands and one foot to 10-year-old Perth boy, Terry Vo, after a brick wall which collapsed during a game of basketball fell on him, severing the limbs. The wall gave way while Terry performed a slam-dunk, during a game at a friend’s birthday party.

The boy was today awake and smiling, still in some pain but in good spirits and expected to make a full recovery, according to plastic surgeon, Mr Robert Love.

“What we have is parts that are very much alive so the reattached limbs are certainly pink, well perfused and are indeed moving,” Mr Love told reporters today.

“The fact that he is moving his fingers, and of course when he wakes up he will move both fingers and toes, is not a surprise,” Mr Love had said yesterday.

“The question is more the sensory return that he will get in the hand itself and the fine movements he will have in the fingers and the toes, and that will come with time, hopefully. We will assess that over the next 18 months to two years.

“I’m sure that he’ll enjoy a game of basketball in the future.”

The weight and force of the collapse, and the sharp brick edges, resulted in the three limbs being cut through about 7cm above the wrists and ankle.

Terry’s father Tan said of his only child, the injuries were terrible, “I was scared to look at him, a horrible thing.”

The hands and foot were placed in an ice-filled Esky and rushed to hospital with the boy, where three teams of medical experts were assembled, and he was given a blood transfusion after experiencing massive blood loss. Eight hours of complex micro-surgery on Saturday night were followed by a further two hours of skin grafts yesterday.

“What he will lose because it was such a large zone of traumatised skin and muscle and so on, he will lose some of the skin so he’ll certainly require lots of further surgery regardless of whether the skin survives,” said Mr Love said today.

The boy was kept unconscious under anaesthetic between the two procedures. In an interview yesterday, Mr Love explained why:

“He could have actually been woken up the next day. Because we were intending to take him back to theatre for a second look, to look at the traumatised skin flaps, to close more of his wounds and to do split skin grafting, it was felt the best thing to do would be to keep him stable and to keep him anaesthetised.”

Professor Wayne Morrison, director of the respected Bernard O’Brien Institute of Microsurgery and head of plastic and hand surgery at Melbourne’s St Vincent’s Hospital, said he believed the operation to be a world first.

Tuesday, March 29, 2005A team of Australian surgeons yesterday reattached both hands and one foot to 10-year-old Perth boy, Terry Vo, after a brick wall which collapsed during a game of basketball fell on him, severing the limbs. The wall gave way while Terry performed a slam-dunk, during a game at a friend’s birthday party.

The boy was today awake and smiling, still in some pain but in good spirits and expected to make a full recovery, according to plastic surgeon, Mr Robert Love.

“What we have is parts that are very much alive so the reattached limbs are certainly pink, well perfused and are indeed moving,” Mr Love told reporters today.

“The fact that he is moving his fingers, and of course when he wakes up he will move both fingers and toes, is not a surprise,” Mr Love had said yesterday.

“The question is more the sensory return that he will get in the hand itself and the fine movements he will have in the fingers and the toes, and that will come with time, hopefully. We will assess that over the next 18 months to two years.

“I’m sure that he’ll enjoy a game of basketball in the future.”

The weight and force of the collapse, and the sharp brick edges, resulted in the three limbs being cut through about 7cm above the wrists and ankle.

Terry’s father Tan said of his only child, the injuries were terrible, “I was scared to look at him, a horrible thing.”

The hands and foot were placed in an ice-filled Esky and rushed to hospital with the boy, where three teams of medical experts were assembled, and he was given a blood transfusion after experiencing massive blood loss. Eight hours of complex micro-surgery on Saturday night were followed by a further two hours of skin grafts yesterday.

“What he will lose because it was such a large zone of traumatised skin and muscle and so on, he will lose some of the skin so he’ll certainly require lots of further surgery regardless of whether the skin survives,” said Mr Love said today.

The boy was kept unconscious under anaesthetic between the two procedures. In an interview yesterday, Mr Love explained why:

“He could have actually been woken up the next day. Because we were intending to take him back to theatre for a second look, to look at the traumatised skin flaps, to close more of his wounds and to do split skin grafting, it was felt the best thing to do would be to keep him stable and to keep him anaesthetised.”

Professor Wayne Morrison, director of the respected Bernard O’Brien Institute of Microsurgery and head of plastic and hand surgery at Melbourne’s St Vincent’s Hospital, said he believed the operation to be a world first.

Monday, May 7, 2018

On Saturday, United Launch Alliance launched a Atlas V 401 rocket carrying NASA’s InSight Mars lander and two Mars Cube One (MarCO) miniature spacecraft known as cubesats. The pre-dawn launch from Vandenberg Air Force Base Space Launch Complex 3E in Lompoc, California was declared a success. This was the very first deep space launch from the west coast of the United States, and aimed to send a lander to the surface of the planet Mars to study its interior.

Launched alongside InSight were two MarCO cubesats, the first to be sent beyond Earth, nicknamed ‘WALL-E’ and ‘Eve’ after the protagonists of the 2008 animated science fiction film WALL-E. They were designed as a dual telecommunications relay for InSight during the spacecraft’s descent through the Martian atmosphere.

Traditionally, NASA launched interplanetary spacecraft at Cape Canaveral Air Force Station in Florida on the United States’ east coast. There, rockets were sent eastward over the Atlantic Ocean, borrowing the Earth’s rotational velocity to shoot their payloads out into the solar system. Due to congestion on the launch calendar at Canaveral, NASA chose to launch the spacecraft from from Vandenberg Air Force Base on the country’s west coast instead. A launch eastward from Vandenberg would have been dangerous due to densely populated areas being located downrange. Instead, rockets launched from Vandenberg were sent in a south-southeast trajectory. For Insight and MarCO, the spacecraft was placed in a temporary polar orbit after the launch, with the pair being shot towards Mars during a escape burn performed over the North Pole.

Despite a heavy fog settling in at the rocket’s launch pad in Lompoc, the United Launch Alliance declared a “100% chance of favorable weather for liftoff”. Spectators in Lompoc were treated to a mostly obscured view of the launch, though they were witness nonetheless to the sound and shock waves of the Atlas V’s Common Core first stage as it lifted the spacecraft off the ground on-schedule at 4:05 PDT (1105 UTC). People along the coast of southern California and northern Baja California, however, were in clear view of the Atlas V’s main engine burn and the first burn of the rocket’s Centaur upper stage. People in Orange County, California were treated to the sight of InSight and the Centaur almost eclipsing the planet Jupiter in the night sky.

The recently-inaugurated Administrator of NASA, Jim Bridenstine, congratulated the InSight team in an address televised live on NASA TV after the launch, along with the United Launch Alliance on what was their 128th successful launch in a row. The InSight mission part of NASA’s Discovery program, a class of low-cost solar system exploration missions. It was selected to launch in the program after beating the Comet Hopper and Titan Mare Explorer proposals amongst responses to a 2010 request.

Both InSight and the MarCO cubesats are en route to Mars. InSight carries eight scientific instruments, including a seismometer known as Seismic Experiment for Interior Structure (SEIS). The SEIS instrument will be recording the very first seismic measurements of Mars, which scientists hope will shed light on the structure of Mars beneath its surface. The lander was equipped with two cameras, based on the architecture of the Mars Exploration Rover’s navigation camera and hazard avoidance camera, to allow mission scientists to monitor the activity of the instruments. NASA scheduled a November 26 landing for InSight on a broad plain in the planet’s northern hemisphere, known as Elysium Planitia.

Tuesday, January 27, 2009

Martin Garbus, Esq. filed a shareholder derivative suit Monday against Marvel Entertainment and its Chief Executive Officer Isaac Perlmutter, as well as Stan Lee, the creator of Marvel superhero characters, and Lee’s wife and former Marvel Studios head, Avi Arad. The suit is for more than US$750 million (£528M) — about half of the estimated proceeds from Marvel’s movies.

Plaintiff Stan Lee Media (SLM) has four shareholders who live in Florida, California and Canada, and include Jose Abadin and Nelson Thall. The company is suing for recovery of civil damages representing one-half of film and book earnings from such blockbuster films as Spider-Man, Iron Man, X-Men, Hulk, and Fantastic Four franchises.

Defendants are accused of copyright violations over both the Marvel superhero characters and intellectual properties created by Stan Lee. Spider-Man’s three cinematic outings, starring Tobey Maguire, earned more than $1bn (£702m). “Most of Marvel’s financial success, including from the films, comes out of assets created by Stan Lee that are the subject of this suit,” the complaint states.

Lee, 86, has denied the allegations and has previously filed his own $50 million counter lawsuit against SLM, claiming the company has destroyed his name and reputation and prevented his effort to develop such properties as “The Accuser” and “The Drifter” and others via his first-look deals with Disney and Virgin Comics. Lee also co-created Daredevil, Doctor Strange and Thor.

Former dot-com company STM further alleges that it has agreed to pay Lee a $250,000 annual salary plus $100 million in company stock in exchange for the rights to the superhero characters. “That money should have gone to the corporation,” said Garbus. Lee’s counsel, Mark Williams, replied: “We look forward to a positive resolution for Stan Lee and his family.” Marvel has said the court pleadings, which were filed in U.S. District Court in Manhattan, are filled with “ridiculous claims”.

SLM ran out of operating capital during the dot-com meltdown in December 2000, closing operations entirely by December 19 of that year. The company was placed into Chapter 11 Reorganization in Bankruptcy by Stan Lee in 2001. During the insolvency proceedings, Lee assigned the major character franchises he had created to his new public company, POW! Entertainment, without the bankruptcy court’s approval.

Two multi-billion dollar lawsuits for damages were filed against Lee, his new company, his new partner Arthur Lieberman and Marvel Entertainment for cybersquatting and failure to disclose the existence and value of the Rights Assignment Lee made to the company when he founded it.

The company remained under bankruptcy protection until the US Trustee for the Central District of California moved to dismiss the bankruptcy proceedings for failure of the company as debtor in possession to comply with basic requirements of filing monthly reports and paying quarterly fees to the Trustee. SLM was taken back by the shareholders after its dismissal from bankruptcy and hired a legal and accounting forensic consultant to review all transactions that occurred during bankruptcy.

By November 2006, all of the officers and directors of the company had resigned or abandoned their positions and the company’s lawyers for the debtors in possession attempted to obtain court authorization to destroy or dispose of the company’s books and records. This initiated a long-running legal battle between shareholders and the company’s founder, Lee.

The plaintiffs in this most recent suit contend that Lee, Perlmutter, Arthur Lieberman and Avi Arad conspired in bad faith to conceal and misappropriate financial interests in Lee’s creations assigned to Stan Lee Media in 1998. SLM’s meltdown involved its former President Peter F. Paul fleeing to Brazil, contributions made to Bill and Hillary Clinton, Paul’s extradition and more. In 2007, SLM filed a $5 billion lawsuit in which it claimed co-ownership of all of Stan Lee’s creations for Marvel.

Tuesday, November 20, 2007

The labor strikes in France, which began on November 13, 2007, are continuing as hundreds of thousands of civil servants hold a 24-hour work stoppage. The action by postal workers, teachers, air traffic controllers and hospital staff, have left many schools closed and airports facing delays and flight cancellations.

The November 2007 strikes in France began when SNCF rail workers and Paris Métro engineers went on strike to protest reforms by President Nicolas Sarkozy, which would reduce early retirement pensions.

Under current regulations, civil servants in France may retire after 37.5 years of service. Some professions, primarily in the rail industry, have an accelerated schedule, allowing rail workers to retire as early as age 50 with full benefits. The government wants to change that saying that these special pensions apply to 1.6 million workers and amount to 6% of the governments total pension payments.

The rail strike has, according to opinion polls, become quite unpopular. Speaking today, Sarkozy said “I am thinking about those millions of French people who after a day’s work do not have a bus, a metro or a train to get home and who are tired of being held hostage. I am thinking of those companies that risk having to lay off workers.”

The French finance minister Christine Lagarde estimated the strikes cost the economy of France €350 million each day. “It’s a real worry for the French economy,” she said. Public accounts minister Éric Wœrth spoke on France Inter radio and agreed that a prolonged strike would hurt the economy. “Not over several days. But if it lasted longer, it could obviously have consequences,” he said.

The civil servants that began their 24-hour stoppage today are protesting what they say has been a de facto pay-cut. The purchasing power of their wages has dropped by 6% since 2000. They are demanding pay-raises and are protesting proposed job-cuts for 2008. The government has proposed to cut some 23,000 jobs, half of which would be in education.

The third work stoppage by French energy workers started last night, reducing electrical output by 9%. Newspaper distributors also went on strike, in protest of proposed restructuring. Students protested other reforms that would give universities greater autonomy. The students blocked access to buildings at campuses across the country.