Metro.usMyMetro Events http://www.metro.us Tue, 14 May 2013 16:17:28 +0000 en-US hourly 1 http://wordpress.org/?v=3.5.1 Bloomberg News’ top editor, calls client data policy ‘inexcusable’ http://www.metro.us/newyork/news/2013/05/13/bloomberg-news-top-editor-calls-client-data-policy-inexcusable/ http://www.metro.us/newyork/news/2013/05/13/bloomberg-news-top-editor-calls-client-data-policy-inexcusable/#comments Mon, 13 May 2013 19:59:11 +0000 Samantha Cheney http://www.metro.us/newyork/?p=149915 A man walks past a screen displaying sto Matthew Winkler, editor-in-chief of Bloomberg News, apologized on Monday for allowing journalists "limited" access to sensitive data about how clients used Bloomberg terminals, saying it was "inexcusable", but that important customer data had always been protected. His statement came as the European Central Bank said it was in "close contact with Bloomberg" about any possible breaches in the confidentiality of data usage. The U.S. Federal Reserve and the Bundesbank, Germany's central bank, said they were examining whether there could have been leaks. A source briefed on the situation said the U.S. Treasury Department was looking into the question as well. The practice of giving reporters access to some data considered proprietary - including when a customer looked into broad categories such as equities or bonds - came to light in media reports last week. In response, the parent company, Bloomberg LP, said it had restricted such access last month after Goldman Sachs Group Inc complained. Winkler, in an editorial posted on Bloomberg.com, said: "Our reporters should not have access to any data considered proprietary. I am sorry they did. The error is inexcusable." Goldman flagged the matter to Bloomberg after the bank found that journalists had access to more information than it had known and argued the information was sensitive and should not be seen by reporters. The news triggered fears at Wall Street firms about the privacy of sensitive data, as well as at the Fed and other U.S. government departments that use Bloomberg terminals. In the editorial, Winkler sought to clarify what exactly Bloomberg journalists could see. He said they had access to a user's login history, as well as "high-level types of user functions on an aggregated basis, with no ability to look into specific security information." He said the practice dates back to the early days of Bloomberg News in the 1990s, when reporters used the terminal to find out what kind of news coverage customers wanted. "As data privacy has become a central concern to our clients, we should go above and beyond in protecting data, especially when we have even the appearance of impropriety," Winkler wrote. "And that's why we've made these recent changes to what reporters can access." BLOOMBERG'S BOOK Data security was an issue that company founder Michael Bloomberg wrestled with in his 1997 book, "Bloomberg by Bloomberg." In general, he wrote, restricting access to proprietary information can be an ineffective exercise. Often "the whole data security issue is overblown at most corporations that think they have a lot to guard," wrote Bloomberg, who has been mayor of New York City since 2002. "Pilferage and leakage are costs of doing business. Live with them. While some restrictions make sense, many are ridiculous." In his statement, Winkler emphasized that Bloomberg News "has never compromised the integrity of that data in our reporting" and said Bloomberg journalists are subject to standards that are among the most stringent in the business. "At no time did reporters have access to trading, portfolio, monitor, blotter or other related systems," he said. "Nor did they have access to clients' messages to one another. They couldn't see the stories that clients were reading or the securities clients might be looking at." Even though the information available to Bloomberg reporters was limited, senior Goldman executives argued that a trader could profit just by knowing what type of securities high-profile users were looking at, or what questions a government official raised with Bloomberg's help desk, people with direct knowledge of their views said. The issue made people inside the bank uncomfortable with even the Bloomberg marketing and sales team's access to information, the sources said. In disclosing the new restrictions set last month, Chief Executive Daniel Doctoroff said Bloomberg had created the position of client data compliance officer to ensure that its news operations never have access to confidential customer data. Closely held Bloomberg, which competes with Thomson Reuters , the parent of Reuters News, gets the bulk of its revenue from terminal sales to financial institutions. Bloomberg has more than 315,000 terminal subscribers globally, with each Bloomberg terminal costing more than $20,000 a year. Last year it posted revenue of $7.9 billion. In a statement on Friday, Thomson Reuters said its news division operates "completely independently, with reporters having no access to non-public data on its customers, especially any data relating to its customers use of its products or services."  ]]> A man walks past a screen displaying sto

Matthew Winkler, editor-in-chief of Bloomberg News, apologized on Monday for allowing journalists “limited” access to sensitive data about how clients used Bloomberg terminals, saying it was “inexcusable”, but that important customer data had always been protected.

His statement came as the European Central Bank said it was in “close contact with Bloomberg” about any possible breaches in the confidentiality of data usage. The U.S. Federal Reserve and the Bundesbank, Germany’s central bank, said they were examining whether there could have been leaks. A source briefed on the situation said the U.S. Treasury Department was looking into the question as well.

The practice of giving reporters access to some data considered proprietary – including when a customer looked into broad categories such as equities or bonds – came to light in media reports last week. In response, the parent company, Bloomberg LP, said it had restricted such access last month after Goldman Sachs Group Inc complained.

Winkler, in an editorial posted on Bloomberg.com, said: “Our reporters should not have access to any data considered proprietary. I am sorry they did. The error is inexcusable.”

Goldman flagged the matter to Bloomberg after the bank found that journalists had access to more information than it had known and argued the information was sensitive and should not be seen by reporters.

The news triggered fears at Wall Street firms about the privacy of sensitive data, as well as at the Fed and other U.S. government departments that use Bloomberg terminals.

In the editorial, Winkler sought to clarify what exactly Bloomberg journalists could see. He said they had access to a user’s login history, as well as “high-level types of user functions on an aggregated basis, with no ability to look into specific security information.”

He said the practice dates back to the early days of Bloomberg News in the 1990s, when reporters used the terminal to find out what kind of news coverage customers wanted.

“As data privacy has become a central concern to our clients, we should go above and beyond in protecting data, especially when we have even the appearance of impropriety,” Winkler wrote. “And that’s why we’ve made these recent changes to what reporters can access.”

BLOOMBERG’S BOOK

Data security was an issue that company founder Michael Bloomberg wrestled with in his 1997 book, “Bloomberg by Bloomberg.” In general, he wrote, restricting access to proprietary information can be an ineffective exercise.

Often “the whole data security issue is overblown at most corporations that think they have a lot to guard,” wrote Bloomberg, who has been mayor of New York City since 2002. “Pilferage and leakage are costs of doing business. Live with them. While some restrictions make sense, many are ridiculous.”

In his statement, Winkler emphasized that Bloomberg News “has never compromised the integrity of that data in our reporting” and said Bloomberg journalists are subject to standards that are among the most stringent in the business.

“At no time did reporters have access to trading, portfolio, monitor, blotter or other related systems,” he said. “Nor did they have access to clients’ messages to one another. They couldn’t see the stories that clients were reading or the securities clients might be looking at.”

Even though the information available to Bloomberg reporters was limited, senior Goldman executives argued that a trader could profit just by knowing what type of securities high-profile users were looking at, or what questions a government official raised with Bloomberg’s help desk, people with direct knowledge of their views said.

The issue made people inside the bank uncomfortable with even the Bloomberg marketing and sales team’s access to information, the sources said.

In disclosing the new restrictions set last month, Chief Executive Daniel Doctoroff said Bloomberg had created the position of client data compliance officer to ensure that its news operations never have access to confidential customer data.

Closely held Bloomberg, which competes with Thomson Reuters , the parent of Reuters News, gets the bulk of its revenue from terminal sales to financial institutions.

Bloomberg has more than 315,000 terminal subscribers globally, with each Bloomberg terminal costing more than $20,000 a year. Last year it posted revenue of $7.9 billion.

In a statement on Friday, Thomson Reuters said its news division operates “completely independently, with reporters having no access to non-public data on its customers, especially any data relating to its customers use of its products or services.”

 

The post Bloomberg News’ top editor, calls client data policy ‘inexcusable’ appeared first on Metro.us.

]]>
http://www.metro.us/newyork/news/2013/05/13/bloomberg-news-top-editor-calls-client-data-policy-inexcusable/feed/ 0
@Warren Buffett is in the house, gains 140,000 followers in three hours http://www.metro.us/newyork/news/2013/05/03/warren-buffett-joins-twitter/ http://www.metro.us/newyork/news/2013/05/03/warren-buffett-joins-twitter/#comments Fri, 03 May 2013 06:21:48 +0000 Tony Metcalf http://www.metro.us/newyork/?p=144615 Warren Buffet, who has joined Twitter Warren Buffet, who has joined Twitter[/caption] Warren Buffett accumulates Twitter followers even faster than he makes money. The 82-year-old "Oracle of Omaha" joined the service and sent his first tweet on Thursday, picking up more than 45,000 followers in just under 45 minutes and 140,000 in the first three hours. "Warren is in the house," Buffett said under the handle "@WarrenBuffett." The handle was not officially verified by Twitter, but was confirmed by Fortune magazine, which hosted Buffett for a live webcast Thursday. It was billed as the first social media event for the notoriously technology-averse billionaire. If followers were dollars, Buffett is having even more success on Twitter than he had with one of his best investments ever, his 2008 stake in Goldman Sachs Group Inc. That deal gave him preferred stock that paid dividends at $900 a minute. On Twitter, he has gathered 1,000 followers a minute. By joining Twitter, the Berkshire Hathaway Inc chief executive officer now stands in good mogul company. Other relatively recent converts to the service include News Corp CEO Rupert Murdoch (@RupertMurdoch) and former U.S. President Bill Clinton (@BillClinton). (Reporting by Ben Berkowitz; Editing by Matthew Lewis and Lisa Von Ahn)]]> Warren Buffet, who has joined Twitter
Warren Buffet, who has joined Twitter

Warren Buffett accumulates Twitter followers even faster than he makes money.

The 82-year-old “Oracle of Omaha” joined the service and sent his first tweet on Thursday, picking up more than 45,000 followers in just under 45 minutes and 140,000 in the first three hours.

“Warren is in the house,” Buffett said under the handle “@WarrenBuffett.”

The handle was not officially verified by Twitter, but was confirmed by Fortune magazine, which hosted Buffett for a live webcast Thursday. It was billed as the first social media event for the notoriously technology-averse billionaire.

If followers were dollars, Buffett is having even more success on Twitter than he had with one of his best investments ever, his 2008 stake in Goldman Sachs Group Inc.

That deal gave him preferred stock that paid dividends at $900 a minute. On Twitter, he has gathered 1,000 followers a minute.

By joining Twitter, the Berkshire Hathaway Inc chief executive officer now stands in good mogul company. Other relatively recent converts to the service include News Corp CEO Rupert Murdoch (@RupertMurdoch) and former U.S. President Bill Clinton (@BillClinton).

(Reporting by Ben Berkowitz; Editing by Matthew Lewis and Lisa Von Ahn)

The post @Warren Buffett is in the house, gains 140,000 followers in three hours appeared first on Metro.us.

]]>
http://www.metro.us/newyork/news/2013/05/03/warren-buffett-joins-twitter/feed/ 0
AAA: Gas prices expected to drop http://www.metro.us/newyork/news/2013/05/01/aaa-gas-prices-expected-to-drop/ http://www.metro.us/newyork/news/2013/05/01/aaa-gas-prices-expected-to-drop/#comments Wed, 01 May 2013 12:42:21 +0000 Sean McCullen http://www.metro.us/newyork/?p=143257 AAA expects gas prices will drop 11 to 31 cents for the summer driving season. Credit: Getty Images AAA expects gas prices will drop 11 to 31 cents for the summer driving season.
Credit: Getty Images[/caption] Gas prices will drop to a national average of between $3.20 and $3.40 for the summer driving months, according to AAA. Regular gas averaged $3.55 per gallon nationally in April--a three-year low for the month. That cost represents a roughly 13-cent decrease from March. On Tuesday, gas averaged $3.51 across the country. One year earlier, on April 30, 2012, a gallon of gas cost $3.82. Low oil costs and ample refinery production are expected to continue to drive down the cost of gas in the coming months, according to Jenny M. Robinson, AAA Mid-Atlantic's manager of public and government affairs. “Gas prices in much of the country have declined this spring because of lower oil costs, ample refinery production and continued weak demand,” Robinson said. “Gas prices have fallen faster and earlier than ever before for this time of year, and it is saving motorists millions of dollars per day in lower fuel costs. "Families taking trips this summer can expect to pay lower gas prices than recent years as long as there are not any refinery problems or significant international news events,” she added. The current average gas price for New Jersey is $3.313; Pennsylvania, $3.461; and Delaware, $3.383.]]>
AAA expects gas prices will drop 11 to 31 cents for the summer driving season. Credit: Getty Images
AAA expects gas prices will drop 11 to 31 cents for the summer driving season.
Credit: Getty Images

Gas prices will drop to a national average of between $3.20 and $3.40 for the summer driving months, according to AAA.

Regular gas averaged $3.55 per gallon nationally in April–a three-year low for the month. That cost represents a roughly 13-cent decrease from March.

On Tuesday, gas averaged $3.51 across the country. One year earlier, on April 30, 2012, a gallon of gas cost $3.82.

Low oil costs and ample refinery production are expected to continue to drive down the cost of gas in the coming months, according to Jenny M. Robinson, AAA Mid-Atlantic’s manager of public and government affairs.

“Gas prices in much of the country have declined this spring because of lower oil costs, ample refinery production and continued weak demand,” Robinson said. “Gas prices have fallen faster and earlier than ever before for this time of year, and it is saving motorists millions of dollars per day in lower fuel costs.

“Families taking trips this summer can expect to pay lower gas prices than recent years as long as there are not any refinery problems or significant international news events,” she added.

The current average gas price for New Jersey is $3.313; Pennsylvania, $3.461; and Delaware, $3.383.

The post AAA: Gas prices expected to drop appeared first on Metro.us.

]]>
http://www.metro.us/newyork/news/2013/05/01/aaa-gas-prices-expected-to-drop/feed/ 0
Hackers seize AP Twitter feed, send bogus message about White House attack http://www.metro.us/newyork/news/2013/04/23/hackers-seize-ap-twitter-feed-send-market-moving-bogus-message/ http://www.metro.us/newyork/news/2013/04/23/hackers-seize-ap-twitter-feed-send-market-moving-bogus-message/#comments Tue, 23 Apr 2013 19:10:43 +0000 Morgan Rousseau http://www.metro.us/newyork/?p=139582 The Associated Press's Twitter account was hacked Tuesday. PHOTO CREDIT: TWITTER The Associated Press's Twitter account was hacked Tuesday. PHOTO CREDIT: TWITTER[/caption] A phony news report sent shock waves throughout social media, and eventually the stock market Tuesday when a hacker got a hold of the Associated Press's Twitter account. [related tag=”Twitter” limit=5] A little after 1 p.m., a false tweet sent out by the Associated Press's twitter handle, "@AP," reported there were two explosions in the White House, and that President Barack Obama was injured. The Associated Press's account was quickly suspended, and a spokesman called the tweet "bogus." The AP has nearly 2 million Twitter followers. White House spokesman Jay Carney told reporters that the president was fine. According to Reuters, a group calling itself the Syrian Electronic Army, which is supportive of that country's leader, Bashar Al-Assad, on Tuesday claimed responsibility on its own Twitter feed for the AP hack. The group has also claimed it was behind past hacks of Twitter accounts for National Public Radio, BBC and CBS's "60 Minutes" program, among others. The fraudulent tweet sent the S&P 500 and Dow Jones Industrial Average plunging sharply before they recovered. Stock and bond futures also were affected, according to Reuters. The AP said the tweet came after hackers made repeated attempts to steal the passwords of AP journalists. A glimpse at the momentary financial frenzy: In what one trader described as "pure chaos," the three-minute plunge triggered by the tweet briefly wiped out $136.5 billion of the S&P 500 index's value, according to Reuters data. The Dow Jones Industrial Average temporarily dropped 143.5 points, or 0.98 percent. Follow Morgan Rousseau on Twitter: @MetroMorgan Follow Metro Boston on Twitter: @MetroBOS]]> The Associated Press's Twitter account was hacked Tuesday. PHOTO CREDIT: TWITTER
The Associated Press’s Twitter account was hacked Tuesday. PHOTO CREDIT: TWITTER

A phony news report sent shock waves throughout social media, and eventually the stock market Tuesday when a hacker got a hold of the Associated Press’s Twitter account.

A little after 1 p.m., a false tweet sent out by the Associated Press’s twitter handle, “@AP,” reported there were two explosions in the White House, and that President Barack Obama was injured.

The Associated Press’s account was quickly suspended, and a spokesman called the tweet “bogus.” The AP has nearly 2 million Twitter followers.

White House spokesman Jay Carney told reporters that the president was fine.

According to Reuters, a group calling itself the Syrian Electronic Army, which is supportive of that country’s leader, Bashar Al-Assad, on Tuesday claimed responsibility on its own Twitter feed for the AP hack.

The group has also claimed it was behind past hacks of Twitter accounts for National Public Radio, BBC and CBS’s “60 Minutes” program, among others.

The fraudulent tweet sent the S&P 500 and Dow Jones Industrial Average plunging sharply before they recovered. Stock and bond futures also were affected, according to Reuters.

The AP said the tweet came after hackers made repeated attempts to steal the passwords of AP journalists.

A glimpse at the momentary financial frenzy:

In what one trader described as “pure chaos,” the three-minute plunge triggered by the tweet briefly wiped out $136.5 billion of the S&P 500 index’s value, according to Reuters data.

The Dow Jones Industrial Average temporarily dropped 143.5 points, or 0.98 percent.

Follow Morgan Rousseau on Twitter: @MetroMorgan
Follow Metro Boston on Twitter: @MetroBOS

The post Hackers seize AP Twitter feed, send bogus message about White House attack appeared first on Metro.us.

]]>
http://www.metro.us/newyork/news/2013/04/23/hackers-seize-ap-twitter-feed-send-market-moving-bogus-message/feed/ 0
(UPDATED) Krystle Campbell: Second victim identified in Boston Marathon blast http://www.metro.us/newyork/news/2013/04/16/krystle-campbell-second-victim-identified-in-boston-marathon-blast/ http://www.metro.us/newyork/news/2013/04/16/krystle-campbell-second-victim-identified-in-boston-marathon-blast/#comments Tue, 16 Apr 2013 18:23:08 +0000 Mary Ann Georgantopoulos http://www.metro.us/newyork/?p=135703 Krystle Campbell Credit: Facebook Krystle Campbell, 29, was from Medford, Mass.
Credit: Facebook[/caption] Medford woman Krystle Campbell, 29, was identified as the second victim of the Boston Marathon explosions. Initially told she had survived but her daughter had been misidentified as her friend. Campbell's mother, Patty, tearfully remembered her daughter on the porch of their Park Street home this evening. “We are heartbroken at the death of our daugther," she said. "She was a wonderful person. Everyone that knew her loved her. She had a heart of gold. She was always smiling." Following Monday's blasts, Patty Campbell reportedly received news that Krystle had been injured but was OK. She was later notified that Krystle's identity had been mixed up with her friend's. "I can’t believe this is happening," she told reporters. "She was such a hard worker in everything that she did, it just doesn’t make any sense” Yahoo! News spoke with her father, who said: “My daughter was the most lovable girl. She helped everybody and I’m just so shocked right now. We’re just devastated. She was a wonderful, wonderful girl. Always willing to lend a hand.”[embedgallery id = 134983] Campbell was a 2001 Medford High School graduate. [videoembed id = 134930] She was the second victim to be identified after Monday’s attack that claimed three lives and injured more than 170 people. Eight-year-old Martin Richard, of Dorchester, was also killed. His mother and sister were also badly injured in the attack. Martin and his family were waiting by the finish line for his father to finish running the marathon race. [related tag ="Boston Marathon"]“My dear son Martin has died from injuries sustained in the attack on Boston. My wife and daughter are both recovering from serious injuries,” said Martin’s father Bill Richard in a statement issued through a spokesman. “We thank our family and friends, those we know and those we have never met, for their thoughts and prayers. I ask that you continue to pray for my family as we remember Martin. We also ask for your patience and for privacy as we work to simultaneously grieve and recover. Thank you.” The third victim has yet to be identified, pending notification of next of kin.]]>
Krystle Campbell Credit: Facebook
Krystle Campbell, 29, was from Medford, Mass.
Credit: Facebook

Medford woman Krystle Campbell, 29, was identified as the second victim of the Boston Marathon explosions.

Initially told she had survived but her daughter had been misidentified as her friend.

Campbell’s mother, Patty, tearfully remembered her daughter on the porch of their Park Street home this evening.

“We are heartbroken at the death of our daugther,” she said. “She was a wonderful person. Everyone that knew her loved her. She had a heart of gold. She was always smiling.”

Following Monday’s blasts, Patty Campbell reportedly received news that Krystle had been injured but was OK. She was later notified that Krystle’s identity had been mixed up with her friend’s.

“I can’t believe this is happening,” she told reporters. “She was such a hard worker in everything that she did, it just doesn’t make any sense”

Yahoo! News spoke with her father, who said: “My daughter was the most lovable girl. She helped everybody and I’m just so shocked right now. We’re just devastated. She was a wonderful, wonderful girl. Always willing to lend a hand.”

Campbell was a 2001 Medford High School graduate. 

She was the second victim to be identified after Monday’s attack that claimed three lives and injured more than 170 people.

Eight-year-old Martin Richard, of Dorchester, was also killed. His mother and sister were also badly injured in the attack. Martin and his family were waiting by the finish line for his father to finish running the marathon race.

“My dear son Martin has died from injuries sustained in the attack on Boston. My wife and daughter are both recovering from serious injuries,” said Martin’s father Bill Richard in a statement issued through a spokesman. “We thank our family and friends, those we know and those we have never met, for their thoughts and prayers. I ask that you continue to pray for my family as we remember Martin. We also ask for your patience and for privacy as we work to simultaneously grieve and recover. Thank you.”

The third victim has yet to be identified, pending notification of next of kin.

The post (UPDATED) Krystle Campbell: Second victim identified in Boston Marathon blast appeared first on Metro.us.

]]>
http://www.metro.us/newyork/news/2013/04/16/krystle-campbell-second-victim-identified-in-boston-marathon-blast/feed/ 0
Obama budget targets millionaires, replaces sequester cuts http://www.metro.us/newyork/news/2013/04/10/us-usa-fiscal/ http://www.metro.us/newyork/news/2013/04/10/us-usa-fiscal/#comments Wed, 10 Apr 2013 10:21:43 +0000 Tony Metcalf http://www.metro.us/newyork/?p=132597 U.S. President Barack Obama delivers remarks on measures to reduce gun violence, at the University of Hartford in Connecticut April 8, 2013. REUTERS/Jason Reed President Barack Obama's budget proposal is hoped to find enough common ground for a deficit reduction accord. Credit: Jason Reed/Reuters[/caption] The White House  this morning proposed a budget that sharply trims the U.S. deficit over three years by forcing millionaires to pay more in taxes and enacting spending cuts that replace the sequester reductions that went into place last month. President Barack Obama's fiscal 2014 budget blueprint ensures that those making $1 million a year or more would have to pay at least 30 percent of their income, after gifts to charity, in taxes, officials said. That increase, along with spending cuts and a 28 percent cap on tax deductions for high earners, would bring the U.S. budget deficit down to 2.8 percent of GDP by 2016, senior administration officials told reporters. The nonpartisan Congressional Budget Office in February projected the U.S. deficit to be 5.3 pct of GDP this year. The president's budget stands little chance of being enacted into law. However, senior administration officials said that, in spite of Republican leaders' resistance to tax increases, they hoped it could lead to a deficit reduction accord. "There continue to be people who are on the Republican side ... in the Senate at least, who are saying things that would give you some hope that there is a path to a deal," a senior administration official told reporters. The president is breaking from the tradition of using the largely symbolic budget release to outline his ideal tax and spending proposals. Instead, he is trying to relaunch talks to resolve a long-running fiscal battle with his Capitol Hill adversaries. To do so, Obama is offering a concession that has enraged many of his supporters: adopting a less generous measure of inflation to calculate cost-of-living increases for the beneficiaries of many federal programs. One result would be diminished benefits for most recipients of the popular Social Security retirement program. Although Obama has pledged to shield some of the most vulnerable beneficiaries, the proposal has drawn strong opposition from Democrats and groups representing labor and the elderly. At the same time, his budget proposal faces seemingly insurmountable opposition from Republican leaders, who reject any new tax revenues. Obama's hope is to build a coalition of lawmakers willing to compromise, although most observers see that as unlikely. He has invited 12 Republicans to dinner at the White House on Wednesday in an effort to soften resistance. "The question is, are Republicans going to be willing to come to us to do the serious thing that they say is so important in terms of reducing our deficit," a senior administration official said in a conference call with reporters the day before the budget release. Both sides are so dug in that they were unable to prevent some $85 billion in across-the-board sequestration cuts from going into effect March 1. Obama's budget proposal would replace those cuts with his original deficit reduction proposal from December. That offer included $930 billion in spending reductions and some $580 billion in tax revenues. The president's budget includes spending on policy priorities such as infrastructure and early childhood education. He would pay for those programs with additional new taxes and the elimination of some tax breaks for the well-off. The budget also includes a 10 percent tax credit for small businesses that raise wages or hire new workers. The president's advisers said the budget proposal would achieve $1.8 trillion in deficit reduction over 10 years. Added to the $2.5 trillion in deficit cuts from past efforts, the total would be above the $4 trillion reduction both Republicans and the White House have said would be an acceptable goal. Obama's budget is a clear contrast with a rival blueprint put forward by Representative Paul Ryan, the 2012 Republican vice presidential nominee and potential 2016 presidential candidate. "You can invest in the middle class, create jobs and reduce our deficits," a senior administration official said. "We don't have to choose between deficits as far as the eye can see and the sort of austerity that's in the Paul Ryan budget."]]> U.S. President Barack Obama delivers remarks on measures to reduce gun violence, at the University of Hartford in Connecticut April 8, 2013. REUTERS/Jason Reed
President Barack Obama’s budget proposal is hoped to find enough common ground for a deficit reduction accord. Credit: Jason Reed/Reuters

The White House  this morning proposed a budget that sharply trims the U.S. deficit over three years by forcing millionaires to pay more in taxes and enacting spending cuts that replace the sequester reductions that went into place last month.

President Barack Obama’s fiscal 2014 budget blueprint ensures that those making $1 million a year or more would have to pay at least 30 percent of their income, after gifts to charity, in taxes, officials said.

That increase, along with spending cuts and a 28 percent cap on tax deductions for high earners, would bring the U.S. budget deficit down to 2.8 percent of GDP by 2016, senior administration officials told reporters. The nonpartisan Congressional Budget Office in February projected the U.S. deficit to be 5.3 pct of GDP this year.

The president’s budget stands little chance of being enacted into law. However, senior administration officials said that, in spite of Republican leaders’ resistance to tax increases, they hoped it could lead to a deficit reduction accord.

“There continue to be people who are on the Republican side … in the Senate at least, who are saying things that would give you some hope that there is a path to a deal,” a senior administration official told reporters.

The president is breaking from the tradition of using the largely symbolic budget release to outline his ideal tax and spending proposals. Instead, he is trying to relaunch talks to resolve a long-running fiscal battle with his Capitol Hill adversaries.

To do so, Obama is offering a concession that has enraged many of his supporters: adopting a less generous measure of inflation to calculate cost-of-living increases for the beneficiaries of many federal programs. One result would be diminished benefits for most recipients of the popular Social Security retirement program.

Although Obama has pledged to shield some of the most vulnerable beneficiaries, the proposal has drawn strong opposition from Democrats and groups representing labor and the elderly.

At the same time, his budget proposal faces seemingly insurmountable opposition from Republican leaders, who reject any new tax revenues.

Obama’s hope is to build a coalition of lawmakers willing to compromise, although most observers see that as unlikely. He has invited 12 Republicans to dinner at the White House on Wednesday in an effort to soften resistance.

“The question is, are Republicans going to be willing to come to us to do the serious thing that they say is so important in terms of reducing our deficit,” a senior administration official said in a conference call with reporters the day before the budget release.

Both sides are so dug in that they were unable to prevent some $85 billion in across-the-board sequestration cuts from going into effect March 1.

Obama’s budget proposal would replace those cuts with his original deficit reduction proposal from December. That offer included $930 billion in spending reductions and some $580 billion in tax revenues.

The president’s budget includes spending on policy priorities such as infrastructure and early childhood education. He would pay for those programs with additional new taxes and the elimination of some tax breaks for the well-off.

The budget also includes a 10 percent tax credit for small businesses that raise wages or hire new workers.

The president’s advisers said the budget proposal would achieve $1.8 trillion in deficit reduction over 10 years. Added to the $2.5 trillion in deficit cuts from past efforts, the total would be above the $4 trillion reduction both Republicans and the White House have said would be an acceptable goal.

Obama’s budget is a clear contrast with a rival blueprint put forward by Representative Paul Ryan, the 2012 Republican vice presidential nominee and potential 2016 presidential candidate.

“You can invest in the middle class, create jobs and reduce our deficits,” a senior administration official said. “We don’t have to choose between deficits as far as the eye can see and the sort of austerity that’s in the Paul Ryan budget.”

The post Obama budget targets millionaires, replaces sequester cuts appeared first on Metro.us.

]]>
http://www.metro.us/newyork/news/2013/04/10/us-usa-fiscal/feed/ 0
Cyprus reopens banks after bailout http://www.metro.us/newyork/news/2013/03/28/cyprus-reopens-banks-after-bailout/ http://www.metro.us/newyork/news/2013/03/28/cyprus-reopens-banks-after-bailout/#comments Thu, 28 Mar 2013 09:51:31 +0000 Tony Metcalf http://www.metro.us/newyork/?p=127095 An European Union flag is seen ablaze during an anti-bailout rally outside the presidential palace in Nicosia March 27, 2013. REUTERS/Yannis Behrakis A European Union flag burns during an anti-bailout rally outside the presidential palace in Nicosia on Wednesday. Credit: Reuters[/caption] Cypriot banks reopened Thursday morning with tight controls imposed on transactions to prevent a run on deposits after the government was forced to accept a stringent EU rescue package to prevent the country from going bankrupt. Banks were shut almost two weeks ago as the government negotiated a 10 billion euro ($13 billion) bailout package, the first in Europe's single currency zone to impose losses on bank depositors. Bank staff turned up for work early in Nicosia as cash was delivered by armored trucks. Authorities said the emergency rules imposed to limit withdrawals and prevent a bank run will be temporary, but economists say they will be difficult to lift as long as the economy is in crisis. In Nicosia there was relief that the banks were reopening, but some apprehension about what might happen. Yorgos Georgiou, who owns a dry cleaning business, said: "Finally people's mood will be lifted and we can start to trust the system again." But he added: "I'm worried about the poor kids working in the cashiers today, because people might vent their anger at them. You can't predict how people will react after so many days." One man, Kostas Nikolaou, a 60-year-old pensioner, said the uncertainty of the past two weeks had been "like a slow death". He added: "How can they tell you that you can't access your own money in the bank? It's our money, we are entitled to it." The Cyprus stock exchange said it would remain closed Thursday. On Wednesday night, container trucks loaded with cash pulled up inside the compound of the central bank in the capital Nicosia to prepare for the reopening, a Cyprus central bank source said. A helicopter hovered overhead, and police with rifles were stationed around the compound. As in all countries that use the euro, Cyprus's central bank supplies cash for its banks from the European Central Bank in Frankfurt. Officials have promised that enough funds will be on hand to meet demand. The ECB did not comment on reports it had sent extra cash to the island. A Finance Ministry decree imposes strict controls limiting cash withdrawals to no more than 300 euros per day and banning the cashing of cheques. The island's central bank will review all commercial transactions over 5,000 euros and scrutinize transactions over 200,000 euros on an individual basis. People leaving Cyprus can take only 1,000 euros with them. An earlier draft of the decree had put the figure at 3,000. With just 860,000 people, Cyprus has about 68 billion euros in its banks — a vastly outsized financial system that attracted deposits from foreigners as an offshore haven but foundered after investments in neighboring Greece went sour. The European Union and International Monetary Fund concluded that Cyprus could not afford a rescue unless it imposed losses on depositors, seen as anathema in previous euro zone bailouts. 'Cyprus euro' Cyprus's financial difficulties have sent tremors through the already fragile single European currency. The imposition of capital controls has led economists to warn that a second-class "Cyprus euro" could emerge, with funds trapped on the island less valuable than euros that can be freely spent abroad. The finance ministry decree said the measures had been imposed for seven days, after a central bank official had initially said the period would be four days, subject to review. Many experts are skeptical. In a Reuters poll of economists this week 30 out of 46 said the controls would last months, while 13 expected they would endure a matter of weeks. Three said they could last years. "This is a typical set of exchange control measures, more reminiscent of Latin America or Africa," said Bob Lyddon, General Secretary of the international banking association IBOS. "These are permanent controls until the economy recovers." The bailout, agreed in Brussels on Monday, looks set to push Cyprus deeper into an economic slump, shrink the banking sector and cost thousands of jobs. Cyprus Popular Bank will be closed and its guaranteed deposits of up to 100,000 euros transferred to the biggest bank, Bank of Cyprus. Deposits of more than 100,000 euros at both banks, too big to enjoy a state guarantee, will be frozen, and some of those funds will be exchanged for shares issued by the banks to recapitalize them. While big depositors will lose money, the authorities say deposits up to 100,000 euros will be protected. The Cypriot parliament had vetoed an earlier plan that would also have hit small depositors. European leaders said the bailout deal averted a chaotic national bankruptcy that might have forced Cyprus out of the euro. Many Cypriots say the deal was foisted upon them by Cyprus's partners in the 17-nation euro zone, and some have taken to the streets to vent their frustration. On Wednesday, some 2,500 people rallied outside the offices of conservative President Nicos Anastasiades, waving banners and flags. They chanted: "I'll pay nothing; I owe nothing." For now, residents said they are confused and worried by the capital controls, and wonder how they will affect daily life. A 42-year-old Romanian hotel maid, who gave her name as Maria, said she was worried she would not be able to cash her pay cheque due Friday. The hotel, she said, was unable to pay staff in cash because most guests paid by credit card. "What shall I do?" she asked. "Hold up the cheque and look at it?"]]> An European Union flag is seen ablaze during an anti-bailout rally outside the presidential palace in Nicosia March 27, 2013. REUTERS/Yannis Behrakis
A European Union flag burns during an anti-bailout rally outside the presidential palace in Nicosia on Wednesday. Credit: Reuters

Cypriot banks reopened Thursday morning with tight controls imposed on transactions to prevent a run on deposits after the government was forced to accept a stringent EU rescue package to prevent the country from going bankrupt.

Banks were shut almost two weeks ago as the government negotiated a 10 billion euro ($13 billion) bailout package, the first in Europe’s single currency zone to impose losses on bank depositors.

Bank staff turned up for work early in Nicosia as cash was delivered by armored trucks.

Authorities said the emergency rules imposed to limit withdrawals and prevent a bank run will be temporary, but economists say they will be difficult to lift as long as the economy is in crisis.

In Nicosia there was relief that the banks were reopening, but some apprehension about what might happen.

Yorgos Georgiou, who owns a dry cleaning business, said: “Finally people’s mood will be lifted and we can start to trust the system again.”

But he added: “I’m worried about the poor kids working in the cashiers today, because people might vent their anger at them. You can’t predict how people will react after so many days.”

One man, Kostas Nikolaou, a 60-year-old pensioner, said the uncertainty of the past two weeks had been “like a slow death”.

He added: “How can they tell you that you can’t access your own money in the bank? It’s our money, we are entitled to it.”

The Cyprus stock exchange said it would remain closed Thursday.

On Wednesday night, container trucks loaded with cash pulled up inside the compound of the central bank in the capital Nicosia to prepare for the reopening, a Cyprus central bank source said. A helicopter hovered overhead, and police with rifles were stationed around the compound.

As in all countries that use the euro, Cyprus’s central bank supplies cash for its banks from the European Central Bank in Frankfurt. Officials have promised that enough funds will be on hand to meet demand. The ECB did not comment on reports it had sent extra cash to the island.

A Finance Ministry decree imposes strict controls limiting cash withdrawals to no more than 300 euros per day and banning the cashing of cheques.

The island’s central bank will review all commercial transactions over 5,000 euros and scrutinize transactions over 200,000 euros on an individual basis. People leaving Cyprus can take only 1,000 euros with them. An earlier draft of the decree had put the figure at 3,000.

With just 860,000 people, Cyprus has about 68 billion euros in its banks — a vastly outsized financial system that attracted deposits from foreigners as an offshore haven but foundered after investments in neighboring Greece went sour.

The European Union and International Monetary Fund concluded that Cyprus could not afford a rescue unless it imposed losses on depositors, seen as anathema in previous euro zone bailouts.

‘Cyprus euro’

Cyprus’s financial difficulties have sent tremors through the already fragile single European currency. The imposition of capital controls has led economists to warn that a second-class “Cyprus euro” could emerge, with funds trapped on the island less valuable than euros that can be freely spent abroad.

The finance ministry decree said the measures had been imposed for seven days, after a central bank official had initially said the period would be four days, subject to review.

Many experts are skeptical. In a Reuters poll of economists this week 30 out of 46 said the controls would last months, while 13 expected they would endure a matter of weeks. Three said they could last years.

“This is a typical set of exchange control measures, more reminiscent of Latin America or Africa,” said Bob Lyddon, General Secretary of the international banking association IBOS.

“These are permanent controls until the economy recovers.”

The bailout, agreed in Brussels on Monday, looks set to push Cyprus deeper into an economic slump, shrink the banking sector and cost thousands of jobs.

Cyprus Popular Bank will be closed and its guaranteed deposits of up to 100,000 euros transferred to the biggest bank, Bank of Cyprus.

Deposits of more than 100,000 euros at both banks, too big to enjoy a state guarantee, will be frozen, and some of those funds will be exchanged for shares issued by the banks to recapitalize them.

While big depositors will lose money, the authorities say deposits up to 100,000 euros will be protected. The Cypriot parliament had vetoed an earlier plan that would also have hit small depositors.

European leaders said the bailout deal averted a chaotic national bankruptcy that might have forced Cyprus out of the euro. Many Cypriots say the deal was foisted upon them by Cyprus’s partners in the 17-nation euro zone, and some have taken to the streets to vent their frustration.

On Wednesday, some 2,500 people rallied outside the offices of conservative President Nicos Anastasiades, waving banners and flags. They chanted: “I’ll pay nothing; I owe nothing.”

For now, residents said they are confused and worried by the capital controls, and wonder how they will affect daily life.

A 42-year-old Romanian hotel maid, who gave her name as Maria, said she was worried she would not be able to cash her pay cheque due Friday. The hotel, she said, was unable to pay staff in cash because most guests paid by credit card.

“What shall I do?” she asked. “Hold up the cheque and look at it?”

The post Cyprus reopens banks after bailout appeared first on Metro.us.

]]>
http://www.metro.us/newyork/news/2013/03/28/cyprus-reopens-banks-after-bailout/feed/ 0
Cyprus deal reached at last minute http://www.metro.us/newyork/news/2013/03/25/cyprus-deal-at-last-minute/ http://www.metro.us/newyork/news/2013/03/25/cyprus-deal-at-last-minute/#comments Mon, 25 Mar 2013 11:40:20 +0000 Tony Metcalf http://www.metro.us/newyork/?p=125376 An anti-Troika protester holds a Cypriot flag during a demonstration outside the EU offices in Nicosia March 24, 2013. REUTERS/Yannis Behrakis An anti-Troika protester holds a Cypriot flag during a demonstration outside the EU offices in Nicosia March 24, 2013. REUTERS/Yannis Behrakis[/caption] Cyprus clinched a last-ditch deal with international lenders to shut down its second-largest bank and inflict heavy losses on uninsured depositors, including wealthy Russians, in return for a 10 billion euro ($13 billion) bailout. The agreement came hours before a deadline to avert a collapse of the banking system in fraught negotiations between President Nicos Anastasiades and heads of the European Union, the European Central Bank and the International Monetary Fund. Swiftly endorsed by euro zone finance ministers, the plan will spare the Mediterranean island a financial meltdown by winding down the largely state-owned Popular Bank of Cyprus, also known as Laiki, and shifting deposits below 100,000 euros to the Bank of Cyprus to create a "good bank". Deposits above 100,000 euros in both banks, which are not guaranteed under EU law, will be frozen and used to resolve Laiki's debts and recapitalize Bank of Cyprus through a deposit/equity conversion. The raid on uninsured Laiki depositors is expected to raise 4.2 billion euros, Eurogroup chairman Jeroen Dijssebloem said. Laiki will effectively be shuttered, with thousands of job losses. Officials said senior bondholders in Laiki would be wiped out and those in Bank of Cyprus would have to make a contribution. An EU spokesman said no across-the-board levy or tax would be imposed on deposits in Cypriot banks, although the hit on large account holders in the two biggest banks is likely to be far greater than initially planned. A first attempt at a deal last week collapsed when the Cypriot parliament rejected a proposed levy on all deposits. Cyprus government spokesman Christos Stylianides said: "We averted a disorderly bankruptcy which would have led to an exit of Cyprus from the euro zone with unforeseeable consequences." Asked about the level of losses on uninsured depositors on Bank of Cyprus, he told state radio it was not possible to be specific at this stage. "The assessment is that it will be under or around 30 percent. But that is a bit of an arbitrary estimate." German Finance Minister Wolfgang Schaeuble said Cypriot lawmakers would not need to vote on the new scheme, since they had already enacted a law setting procedures for bank resolution. "It can't be done without a bail-in in both banks ... This is bitter for Cyprus, but we now have the result that the (German) government always stood up for," Schaeuble told reporters, saying he was sure the German parliament would approve. Lefteris Christoforou, vice-chairman of the ruling Democratic Rally party, said it was important that Cyprus had avoided a chaotic bankruptcy. "It is a bad deal, but the extreme scenario we had to contend with was worse." Former central bank government Afxentis Afxentiou added: "It's a new day for Cyprus ... I believe that in two or three years Cyprus will find its feet." A senior source in the Brussels talks said Anastasiades threatened to resign at one stage on Sunday if he was pushed too far. He left EU headquarters without making any comment. Conservative leader Anastasiades, barely a month in office and wrestling with Cyprus' worst crisis since a 1974 invasion by Turkish forces split the island in two, was forced to back down on his efforts to shield big account holders. Diplomats said the president had fought hard to preserve the country's business model as an offshore financial centre drawing huge sums from wealthy Russians and Britons but had lost. The EU and IMF required that Cyprus raise 5.8 billion euros from its banking sector towards its own financial rescue in return for 10 billion euros in international loans. The head of the EU rescue fund said Cyprus should receive the first emergency funds in May. IMF chief Christine Lagarde said the agreement was "a comprehensive and credible plan" that addresses the core problem of the banking system. "This agreement provides the basis for restoring trust in the banking system, which is key to supporting growth," she said in a statement. With banks closed for the last week, the Central Bank of Cyprus imposed a 100-euro daily limit on withdrawals from cash machines at the two biggest banks to avert a run. French Finance Minister Pierre Moscovici rejected charges that the EU had brought Cypriots to their knees, saying it was the island's offshore business model that had failed. "To all those who say that we are strangling an entire people ... Cyprus is a casino economy that was on the brink of bankruptcy," he said. The euro gained against the dollar on the news in early Asian trading. Analysts had said failure to clinch a deal could cause a financial market sell-off, but some said the island's small size - it accounts for just 0.2 percent of the euro zone's economic output - meant contagion would be limited. The abandoned plan for a levy on bank deposits had unsettled investors since it represented an unprecedented step in Europe's handling of a debt crisis that has spread from Greece to Ireland, Portugal, Spain and Italy. ORDINARY PEOPLE Among ordinary Cypriots, there was a mood of wariness about the deal. "How long will it last?" asked Georgia Xenophontos, 23, a hotel receptionist in Nicosia. "Why should anyone believe anything this government says?" Cyprus's banking sector, with assets eight times the size of the economy, has been crippled by exposure to Greece, where private bondholders suffered a 75 percent "haircut" last year. Without a deal by the end of Monday, the ECB said it would have cut off emergency funds to the banks, spelling certain collapse and potentially pushing the country out of the euro. Under the bailout agreement, Laiki's ECB funds will pass to Bank of Cyprus, and the central bank will "provide liquidity to BoC in line with applicable rules". Anticipating a run when banks reopen on Tuesday, parliament has given the government powers to impose capital controls. About 200 bank employees protested outside the presidential palace on Sunday, chanting "Cyprus will not become a protectorate". On Tuesday, the 56-seat parliament had rejected a levy on depositors, big and small. Finance Minister Michael Sarris then spent three fruitless days in Moscow trying to win help from Russia, whose citizens and companies have billions of euros at stake in Cypriot banks. On Friday, lawmakers voted to nationalize pension funds and split failing lenders into good and bad banks - the measure to be applied to Laiki. The plan to tap pension funds was shelved due to German opposition, a Cypriot official said. The tottering banks held 68 billion euros in deposits, including 38 billion in accounts of more than 100,000 euros - enormous sums for an island of 1.1 million people that could never sustain such a big financial system on its own.]]> An anti-Troika protester holds a Cypriot flag during a demonstration outside the EU offices in Nicosia March 24, 2013. REUTERS/Yannis Behrakis
An anti-Troika protester holds a Cypriot flag during a demonstration outside the EU offices in Nicosia March 24, 2013. REUTERS/Yannis Behrakis

Cyprus clinched a last-ditch deal with international lenders to shut down its second-largest bank and inflict heavy losses on uninsured depositors, including wealthy Russians, in return for a 10 billion euro ($13 billion) bailout.

The agreement came hours before a deadline to avert a collapse of the banking system in fraught negotiations between President Nicos Anastasiades and heads of the European Union, the European Central Bank and the International Monetary Fund.

Swiftly endorsed by euro zone finance ministers, the plan will spare the

Mediterranean island a financial meltdown by winding down the largely state-owned Popular Bank of Cyprus, also known as Laiki, and shifting deposits below 100,000 euros to the Bank of Cyprus to create a “good bank”.

Deposits above 100,000 euros in both banks, which are not guaranteed under EU law, will be frozen and used to resolve Laiki’s debts and recapitalize Bank of Cyprus through a deposit/equity conversion.

The raid on uninsured Laiki depositors is expected to raise 4.2 billion euros, Eurogroup chairman Jeroen Dijssebloem said.

Laiki will effectively be shuttered, with thousands of job losses. Officials said senior bondholders in Laiki would be wiped out and those in Bank of Cyprus would have to make a contribution.

An EU spokesman said no across-the-board levy or tax would be imposed on deposits in Cypriot banks, although the hit on large account holders in the two biggest banks is likely to be far greater than initially planned. A first attempt at a deal last week collapsed when the Cypriot parliament rejected a proposed levy on all deposits.

Cyprus government spokesman Christos Stylianides said: “We averted a disorderly bankruptcy which would have led to an exit of Cyprus from the euro zone with unforeseeable consequences.”

Asked about the level of losses on uninsured depositors on Bank of Cyprus, he told state radio it was not possible to be specific at this stage. “The assessment is that it will be under or around 30 percent. But that is a bit of an arbitrary estimate.”

German Finance Minister Wolfgang Schaeuble said Cypriot lawmakers would not need to vote on the new scheme, since they had already enacted a law setting procedures for bank resolution.

“It can’t be done without a bail-in in both banks … This is bitter for Cyprus, but we now have the result that the (German) government always stood up for,” Schaeuble told reporters, saying he was sure the German parliament would approve.

Lefteris Christoforou, vice-chairman of the ruling Democratic Rally party, said it was important that Cyprus had avoided a chaotic bankruptcy.

“It is a bad deal, but the extreme scenario we had to contend with was worse.”

Former central bank government Afxentis Afxentiou added: “It’s a new day for Cyprus … I believe that in two or three years Cyprus will find its feet.”

A senior source in the Brussels talks said Anastasiades threatened to resign at one stage on Sunday if he was pushed too far. He left EU headquarters without making any comment.

Conservative leader Anastasiades, barely a month in office and wrestling with Cyprus’ worst crisis since a 1974 invasion by Turkish forces split the island in two, was forced to back down on his efforts to shield big account holders.

Diplomats said the president had fought hard to preserve the country’s business model as an offshore financial centre drawing huge sums from wealthy Russians and Britons but had lost.

The EU and IMF required that Cyprus raise 5.8 billion euros from its banking sector towards its own financial rescue in return for 10 billion euros in international loans. The head of the EU rescue fund said Cyprus should receive the first emergency funds in May.

IMF chief Christine Lagarde said the agreement was “a comprehensive and credible plan” that addresses the core problem of the banking system.

“This agreement provides the basis for restoring trust in the banking system, which is key to supporting growth,” she said in a statement.

With banks closed for the last week, the Central Bank of Cyprus imposed a 100-euro daily limit on withdrawals from cash machines at the two biggest banks to avert a run.

French Finance Minister Pierre Moscovici rejected charges that the EU had brought Cypriots to their knees, saying it was the island’s offshore business model that had failed.

“To all those who say that we are strangling an entire people … Cyprus is a casino economy that was on the brink of bankruptcy,” he said.

The euro gained against the dollar on the news in early Asian trading.

Analysts had said failure to clinch a deal could cause a financial market sell-off, but some said the island’s small size – it accounts for just 0.2 percent of the euro zone’s economic output – meant contagion would be limited.

The abandoned plan for a levy on bank deposits had unsettled investors since it represented an unprecedented step in Europe’s handling of a debt crisis that has spread from Greece to Ireland, Portugal, Spain and Italy.

ORDINARY PEOPLE

Among ordinary Cypriots, there was a mood of wariness about the deal.

“How long will it last?” asked Georgia Xenophontos, 23, a hotel receptionist in Nicosia. “Why should anyone believe anything this government says?”

Cyprus’s banking sector, with assets eight times the size of the economy, has been crippled by exposure to Greece, where private bondholders suffered a 75 percent “haircut” last year.

Without a deal by the end of Monday, the ECB said it would have cut off emergency funds to the banks, spelling certain collapse and potentially pushing the country out of the euro.

Under the bailout agreement, Laiki’s ECB funds will pass to Bank of Cyprus, and the central bank will “provide liquidity to BoC in line with applicable rules”.

Anticipating a run when banks reopen on Tuesday, parliament has given the government powers to impose capital controls.

About 200 bank employees protested outside the presidential palace on Sunday, chanting “Cyprus will not become a protectorate”.

On Tuesday, the 56-seat parliament had rejected a levy on depositors, big and small. Finance Minister Michael Sarris then spent three fruitless days in Moscow trying to win help from Russia, whose citizens and companies have billions of euros at stake in Cypriot banks.

On Friday, lawmakers voted to nationalize pension funds and split failing lenders into good and bad banks – the measure to be applied to Laiki. The plan to tap pension funds was shelved due to German opposition, a Cypriot official said.

The tottering banks held 68 billion euros in deposits, including 38 billion in accounts of more than 100,000 euros – enormous sums for an island of 1.1 million people that could never sustain such a big financial system on its own.

The post Cyprus deal reached at last minute appeared first on Metro.us.

]]>
http://www.metro.us/newyork/news/2013/03/25/cyprus-deal-at-last-minute/feed/ 0
150-foot asteroid passing by Earth is warning and goldmine http://www.metro.us/newyork/news/2013/02/14/150-foot-asteroid-passing-by-earth-is-warning-and-goldmine/ http://www.metro.us/newyork/news/2013/02/14/150-foot-asteroid-passing-by-earth-is-warning-and-goldmine/#comments Thu, 14 Feb 2013 19:16:17 +0000 Cassandra Garrison http://www.metro.us/newyork/?p=112226 Credit: NASA Credit: NASA[/caption] The 5 miles per second rock shooting through the Eastern sky Friday could unlock vast wealth, or spell destruction. The 150-foot wide asteroid 2012 DA14 is the largest to ever be detected passing this close and will provide lessons for space exploration. “This is a unique opportunity,” Dwayne Brown, a spokesman for Nasa’s science department, told Metro. “This can tell us about asteroid trajectories, how the Sun affects them, and their origin in nature.” 2012 DA14 will pass just 17,000 miles away - within communication satellite orbit - and although it is not considered a threat, it will influence disaster preparation. “If we can better understand the approach, that helps us with an asteroid on collision course,” says Brown, adding that a strategy already exists based on deflection. “You can nudge it onto another course with even a light touch.” Nasa have made asteroid study a top priority, and an army of robotic telescopes and sky surveyors helped to spot 2012 DA14 in February 2012. It is significant progress given that many asteroids are only seen as, or after, they pass. Citizen astronomers have key to the advance, and thousands of enthusiasts will be watching the skies Friday. “Some amateur astronomers have observatories that would make a university jealous,” said David Dickinson, editor of the Astroguyz website. “Websites allow you to calculate co-ordinates for accurate location, how to watch and monitor events – and we’re constantly exchanging information live on Twitter.” [related id= "national"] Civil society groups are increasingly partners in asteroid exploration and have been heavily involved in the 2016 launch of the OSIRIS-REx satellite, the first mission to mine samples from moving asteroids. 2012 DA14 has an estimated value of $200 billion in precious metals, hinting at a lucrative future in asteroid mining. Yet over half of all Near-Earth Objects (NEO) remain undetected and a threat. “We need to find objects down to at least 100m, the vast majority of which we haven't found yet,” Richard Crowther, chief engineer at the UK Space Agency, told Metro. A sudden, catastrophic event remains a possibility. How to watch 2012 DA14 will be closest at 1924 GMT Friday and will be visible from parts of Europe and Africa. David Dickinson recommends being somewhere as dark as possible with telescope or binoculars and a wide field of vision. Calculate its route beforehand and focus on one position, the asteroid will resemble a shooting star and will be clearest when passing in front of the Moon. Check out Astroguyz.com or b612foundation.org to find out more, or http://www.nasa.gov/ntv to watch live.]]> Credit: NASA
Credit: NASA

The 5 miles per second rock shooting through the Eastern sky Friday could unlock vast wealth, or spell destruction. The 150-foot wide asteroid 2012 DA14 is the largest to ever be detected passing this close and will provide lessons for space exploration.

“This is a unique opportunity,” Dwayne Brown, a spokesman for Nasa’s science department, told Metro. “This can tell us about asteroid trajectories, how the Sun affects them, and their origin in nature.”

2012 DA14 will pass just 17,000 miles away – within communication satellite orbit – and although it is not considered a threat, it will influence disaster preparation. “If we can better understand the approach, that helps us with an asteroid on collision course,” says Brown, adding that a strategy already exists based on deflection. “You can nudge it onto another course with even a light touch.”

Nasa have made asteroid study a top priority, and an army of robotic telescopes and sky surveyors helped to spot 2012 DA14 in February 2012. It is significant progress given that many asteroids are only seen as, or after, they pass.

Citizen astronomers have key to the advance, and thousands of enthusiasts will be watching the skies Friday. “Some amateur astronomers have observatories that would make a university jealous,” said David Dickinson, editor of the Astroguyz website. “Websites allow you to calculate co-ordinates for accurate location, how to watch and monitor events – and we’re constantly exchanging information live on Twitter.”

Civil society groups are increasingly partners in asteroid exploration and have been heavily involved in the 2016 launch of the OSIRIS-REx satellite, the first mission to mine samples from moving asteroids. 2012 DA14 has an estimated value of $200 billion in precious metals, hinting at a lucrative future in asteroid mining.

Yet over half of all Near-Earth Objects (NEO) remain undetected and a threat. “We need to find objects down to at least 100m, the vast majority of which we haven’t found yet,” Richard Crowther, chief engineer at the UK Space Agency, told Metro. A sudden, catastrophic event remains a possibility.

How to watch

2012 DA14 will be closest at 1924 GMT Friday and will be visible from parts of Europe and Africa. David Dickinson recommends being somewhere as dark as possible with telescope or binoculars and a wide field of vision. Calculate its route beforehand and focus on one position, the asteroid will resemble a shooting star and will be clearest when passing in front of the Moon. Check out Astroguyz.com or b612foundation.org to find out more, or http://www.nasa.gov/ntv to watch live.

The post 150-foot asteroid passing by Earth is warning and goldmine appeared first on Metro.us.

]]>
http://www.metro.us/newyork/news/2013/02/14/150-foot-asteroid-passing-by-earth-is-warning-and-goldmine/feed/ 2
New Yorkers remember former mayor Ed Koch http://www.metro.us/newyork/news/local/2013/02/01/new-yorkers-remember-former-mayor-ed-koch/ http://www.metro.us/newyork/news/local/2013/02/01/new-yorkers-remember-former-mayor-ed-koch/#comments Fri, 01 Feb 2013 08:35:01 +0000 Metro Archive http://metro.1over0.com/newyork/uncategorized/2013/02/01/new-yorkers-remember-former-mayor-ed-koch/ passed away at the age of 88.

Governor Andrew Cuomo called him "one of our most admired public leaders." "No New Yorker has - or likely ever will - voice their love for New York City in such a passionate and outspoken manner than Ed Koch," Cuomo said. "New York City would not be the place it is today without Ed Koch's leadership over three terms at City Hall." Mayor Michael Bloomberg called him a champion for the city. "Ed helped lift the city out of its darkest days and set it on course for an incredible comeback," Bloomberg said. "We will miss him dearly, but his good works – and his wit and wisdom – will forever be a part of the city he loved so much." Manhattan District Attorney Cyrus Vance remembered Koch as someone with "wise advice" who helped reform the criminal justice system. "Every New Yorker has the right to walk the streets of our city without fear, and all New Yorkers deserve equal access to justice," Vance said. "We’d be far, far further from these goals today if not for Mayor Ed Koch’s foresight and vision and courage." Others remembered him as a legendary New Yorker, the man Bloomberg called "an irrepressible icon." "He was a quintessential New Yorker, a clever man and politician and possessed the chutzpah that truly made him one of the best mayors in this city's history," Brooklyn Chamber of Commerce President Carlo Scissura said.]]>
Local politicians mourned former mayor Ed Koch today, who passed away at the age of 88.

Governor Andrew Cuomo called him “one of our most admired public leaders.”

“No New Yorker has – or likely ever will – voice their love for New York City in such a passionate and outspoken manner than Ed Koch,” Cuomo said. “New York City would not be the place it is today without Ed Koch’s leadership over three terms at City Hall.”

Mayor Michael Bloomberg called him a champion for the city.

“Ed helped lift the city out of its darkest days and set it on course for an incredible comeback,” Bloomberg said. “We will miss him dearly, but his good works – and his wit and wisdom – will forever be a part of the city he loved so much.”

Manhattan District Attorney Cyrus Vance remembered Koch as someone with “wise advice” who helped reform the criminal justice system.

“Every New Yorker has the right to walk the streets of our city without fear, and all New Yorkers deserve equal access to justice,” Vance said. “We’d be far, far further from these goals today if not for Mayor Ed Koch’s foresight and vision and courage.”

Others remembered him as a legendary New Yorker, the man Bloomberg called “an irrepressible icon.”

“He was a quintessential New Yorker, a clever man and politician and possessed the chutzpah that truly made him one of the best mayors in this city’s history,” Brooklyn Chamber of Commerce President Carlo Scissura said.

The post New Yorkers remember former mayor Ed Koch appeared first on Metro.us.

]]>
http://www.metro.us/newyork/news/local/2013/02/01/new-yorkers-remember-former-mayor-ed-koch/feed/ 0
Former New York mayor Ed Koch dies at 88 http://www.metro.us/newyork/news/local/2013/02/01/former-new-york-mayor-ed-koch-dies-at-88/ http://www.metro.us/newyork/news/local/2013/02/01/former-new-york-mayor-ed-koch-dies-at-88/#comments Fri, 01 Feb 2013 07:30:22 +0000 Metro Archive http://metro.1over0.com/newyork/uncategorized/2013/02/01/former-new-york-mayor-ed-koch-dies-at-88/ Former New York City mayor Ed Koch died on Friday at age 88 after a year of repeated hospitalizations, a spokesman for Koch said.

As mayor from 1978 to 1989, the forceful, quick-witted Koch, with his trademark phrase “How’m I Doing?,” was a polarizing figure and the city’s constant promoter.

Koch died at about 2 a.m. (0700 GMT) at New York-Presbyterian hospital, the spokesman for Koch said.

Koch was credited with lifting New York from crushing economic crises to a level of prosperity that was the envy of other U.S. cities. Under his leadership, the city regained its fiscal footing and undertook a building renaissance.

But his three terms in office were also marked by racial tensions, corruption among many of his political cronies, the rise in AIDS and HIV, homelessness and a high crime rate. In 1989, he lost the Democratic nomination for what would have been a record fourth term as mayor

The post Former New York mayor Ed Koch dies at 88 appeared first on Metro.us.

]]>
http://www.metro.us/newyork/news/local/2013/02/01/former-new-york-mayor-ed-koch-dies-at-88/feed/ 0
City Council may soon regulate indoor tanning in Philly http://www.metro.us/newyork/news/local/2013/01/31/city-council-may-soon-regulate-indoor-tanning-in-philly/ http://www.metro.us/newyork/news/local/2013/01/31/city-council-may-soon-regulate-indoor-tanning-in-philly/#comments Thu, 31 Jan 2013 19:01:03 +0000 Metro Archive http://metro.1over0.com/newyork/uncategorized/2013/01/31/city-council-may-soon-regulate-indoor-tanning-in-philly/ Billboard fight suspended In other City Hall news, after two years of legislative battles over the issue, City Council has for now given up its fight to erect a 10,000 square-foot digital wall wrap on the Electric Factory building at 8th and Callowhill streets. Councilman Mark Squilla on Thursday announced that, following Mayor Michael Nutter's veto of a bill allowing the signage – a portion of which revenue would have gone to fund local schools – he would not seek an override vote. "The self-serving interest of the billboard industry have never been stronger in this city and we are extremely grateful to the mayor for doing the right thing," said Mary Tracy of anti-blight nonprofit Scenic Philadelphia. "This has been a tough issue for Councilman Squilla and we are grateful to him for not requesting an override vote."]]> Philadelphians seeking to get some color in anticipation of the coming spring may soon face more regulations.

City Councilman Bill Greenlee on Thursday introduced legislation that would require the city’s indoor tanning facilities to issue customers written warnings about the danger of artificial sunlight and to restrict minors’ access to sun beds.

“There is a clear and ever increasing risk of cancer over the years for those who are exposed to indoor tanning beds,” Greenlee said.

The legislation would require tanning salons to have customers sign warnings outlining the risks of repeated artificial UV ray exposure, including premature aging, skin cancer and damage to unprotected eyes.

Greenlee pointed to statistics he called “staggering” – 71 percent of the one million people who use tanning beds each day are females between the ages of 16 and 29, and studies show that young people who patronize tanning salons have a 69 percent increased chance of a common form of early-onset skin cancer.

“Teenage girls and young women make up the growing number of tanning bed customers,” Greenlee said. “And they often feel pressure to look tan for proms and other events without considering the risks, thinking they are not vulnerable to skin cancer.”

The Center for Disease Control estimates that those who begin tanning younger than the age of 35 have a 75 percent higher risk of melanoma.

Greenlee’s legislation would require tanning facilities to obtain written permission from legal guardians to allow minors to tan, as well as ban all those under the age of 14 from tanning beds without a note from a licensed doctor.

Billboard fight suspended

In other City Hall news, after two years of legislative battles over the issue, City Council has for now given up its fight to erect a 10,000 square-foot digital wall wrap on the Electric Factory building at 8th and Callowhill streets.

Councilman Mark Squilla on Thursday announced that, following Mayor Michael Nutter’s veto of a bill allowing the signage – a portion of which revenue would have gone to fund local schools – he would not seek an override vote.

“The self-serving interest of the billboard industry have never been stronger in this city and we are extremely grateful to the mayor for doing the right thing,” said Mary Tracy of anti-blight nonprofit Scenic Philadelphia. “This has been a tough issue for Councilman Squilla and we are grateful to him for not requesting an override vote.”

The post City Council may soon regulate indoor tanning in Philly appeared first on Metro.us.

]]>
http://www.metro.us/newyork/news/local/2013/01/31/city-council-may-soon-regulate-indoor-tanning-in-philly/feed/ 0
Congressman Bob Brady saves Philly bike race for 2013 http://www.metro.us/newyork/news/local/2013/01/31/congressman-bob-brady-saves-philly-bike-race-for-2013/ http://www.metro.us/newyork/news/local/2013/01/31/congressman-bob-brady-saves-philly-bike-race-for-2013/#comments Thu, 31 Jan 2013 18:56:16 +0000 Metro Archive http://metro.1over0.com/newyork/uncategorized/2013/01/31/congressman-bob-brady-saves-philly-bike-race-for-2013/ Congressman Bob Brady on Thursday announced that, in the wake of last week’s cancellation of the 2013 Philadelphia International Cycling Championship due to financial woes, he’s assembled a new leadership team to host a new bike race this year.

“The mayor has called for a premier cycling event and the team we have pulled together intends to deliver nothing less for the city of Philadelphia in 2013,” Brady said in a statement. “As long as there is a wall in Manayunk, there will be a world class cycling event in Philadelphia.”

The newly-titled Philly Cycling Classic will be directed by Robin Morton of G4 Productions. The leadership team also includes Philadelphia Insurance Triathlon founder Alan Morrison, Philadelphia Triathlon head Richard Adler, co-founder of Cadence Cycling Foundation Ryan Oelkers, businessman Bob Clowry, Jane Lipton of the Manayunk Development Corporation and Karen Bliss of Marketing for Advanced Sports International.

More information regarding sponsorship and scheduling is expected to be released in the coming weeks.

The post Congressman Bob Brady saves Philly bike race for 2013 appeared first on Metro.us.

]]>
http://www.metro.us/newyork/news/local/2013/01/31/congressman-bob-brady-saves-philly-bike-race-for-2013/feed/ 0
Nine Philadelphia judges indicted in traffic ticket fixing scheme http://www.metro.us/newyork/news/local/2013/01/31/nine-philadelphia-judges-indicted-in-traffic-ticket-fixing-scheme/ http://www.metro.us/newyork/news/local/2013/01/31/nine-philadelphia-judges-indicted-in-traffic-ticket-fixing-scheme/#comments Thu, 31 Jan 2013 18:45:56 +0000 Metro Archive http://metro.1over0.com/newyork/uncategorized/2013/01/31/nine-philadelphia-judges-indicted-in-traffic-ticket-fixing-scheme/

Charges and penalties

All defendants are charged with conspiracy, aiding and abetting, mail fraud and wire fraud.
Some also face allegations of perjury and making false statements to the FBI. – Administrative Judge of Traffic Court Michael Sullivan faces up to 440 years in prison and a $5.5 million fine. – Traffic Court judge Michael Lowry faces a maximum sentence of 205 years in prison and a $2.75 million fine. – Former Traffic Court judge Robert Mulgrew faces up to 145 years in jail and a $2 million fine. – Former Traffic Court judge Willie Singletary faces a maximum sentence of 490 years in jail and a $6.5 million fine. – Former Traffic Court judge Thomasine Tynes could receive up to 230 years in prison and a $3.25 million fine. – Chester County magisterial district judge Mark Bruno faces a maximum sentence of 60 years in prison and a $750,000 fine. – Former Traffic Court director of records William Hird could receive up to 315 years in jail and a $4.5 million fine. Other defendants include business owners Moy and Alfano, senior Traffic Court judge Fortunato N. Perri Sr., Bucks County senior magisterial district judge H. Warren Hogeland and Delaware county senior district judge Kenneth Miller. – METRO / AW

Cleaning court


Political watchdog Committee of Seventy on Thursday suggested several steps to start rebuilding the public's trust in the city Traffic Court. CEO Zack Stalberg pointed out that the primary election for three open Traffic Court seats is less than four months away and suggested concerned voters let their ballots do the talking – or that Gov. Tom Corbett step in and appoint three judges who have demonstrated transparency and integrity. Seventy also suggested that the First Judicial District mandate ethics training for Traffic Court employees, the Philadelphia Bar Association should evaluate and publicly rate all 2013 Traffic Court Candidates and the city Democratic and Republican committees endorse candidates based on those ratings. Stalberg said that in the long term, Traffic Court needs to be either dissolved or completely overhaul the Philadelphia Traffic Court. “Today’s indictments are not isolated episodes that can be fixed by getting rid of several bad actors," he said. "There has been one scandal after another in Traffic Court. This pattern must end." – METRO / AW]]>
Nine current and former Philadelphia Traffic Court judges were indicted for fraud, conspiracy and other charges on Thursday in what federal prosecutors called a culture of ticket fixing.

“Those who seek to game the system by refusing to follow the rules need to be held accountable by the rule of law they swore to uphold,” U.S. Attorney Zane David Memeger said in a statement.

The 77-count indictment said “the ticket fixing was pervasive and frequent,” continued from July 2008 until September 2011 and cost the city an untold amount.

“For years, even beyond the dates of the conspiracy charged, there existed a culture of ticket fixing at Traffic Court,” it said.

The indictment said that local politicians, including ward leaders, politically connected individuals, and those with influential positions in business, labor, industry or society, asked Traffic Court judges or administrators for preferential treatment for constituents, relatives, friends, and associates who had been issued citations.

One business owner, Henry Alfano, 68, described in the indictment as the owner of an automotive business and the landlord for two gentlemen’s clubs, is accused of fixing tickets for his friends. In exchange, he paid a judge with free car repairs, car maintenance, car towing, videos and seafood.

Another businessman, Robert Moy, 56, owner of a translation service, sometimes guaranteed his customers favorable results on their traffic tickets, and did so by working through a traffic court judge, the indictment said.

William Brennan, a lawyer who represents former judge Willie Singletary, told Reuters on Thursday that he will enter a plea of not guilty for his client.

“I’m pleased after reviewing this lengthy document, this indictment, that the government does not allege that my client took one thin dime,” Brennan said.

Charges and penalties

All defendants are charged with conspiracy, aiding and abetting, mail fraud and wire fraud.
Some also face allegations of perjury and making false statements to the FBI.

– Administrative Judge of Traffic Court Michael Sullivan faces up to 440 years in prison and a $5.5 million fine.

– Traffic Court judge Michael Lowry faces a maximum sentence of 205 years in prison and a $2.75 million fine.

– Former Traffic Court judge Robert Mulgrew faces up to 145 years in jail and a $2 million fine.

– Former Traffic Court judge Willie Singletary faces a maximum sentence of 490 years in jail and a $6.5 million fine.

– Former Traffic Court judge Thomasine Tynes could receive up to 230 years in prison and a $3.25 million fine.

– Chester County magisterial district judge Mark Bruno faces a maximum sentence of 60 years in prison and a $750,000 fine.

– Former Traffic Court director of records William Hird could receive up to 315 years in jail and a $4.5 million fine.

Other defendants include business owners Moy and Alfano, senior Traffic Court judge Fortunato N. Perri Sr., Bucks County senior magisterial district judge H. Warren Hogeland and Delaware county senior district judge Kenneth Miller.

METRO / AW

Cleaning court

Political watchdog Committee of Seventy on Thursday suggested several steps to start rebuilding the public’s trust in the city Traffic Court.

CEO Zack Stalberg pointed out that the primary election for three open Traffic Court seats is less than four months away and suggested concerned voters let their ballots do the talking – or that Gov. Tom Corbett step in and appoint three judges who have demonstrated transparency and integrity.

Seventy also suggested that the First Judicial District mandate ethics training for Traffic Court employees, the Philadelphia Bar Association should evaluate and publicly rate all 2013 Traffic Court Candidates and the city Democratic and Republican committees endorse candidates based on those ratings.

Stalberg said that in the long term, Traffic Court needs to be either dissolved or completely overhaul the Philadelphia Traffic Court.

“Today’s indictments are not isolated episodes that can be fixed by getting rid of several bad actors,” he said. “There has been one scandal after another in Traffic Court. This pattern must end.”

METRO / AW

The post Nine Philadelphia judges indicted in traffic ticket fixing scheme appeared first on Metro.us.

]]>
http://www.metro.us/newyork/news/local/2013/01/31/nine-philadelphia-judges-indicted-in-traffic-ticket-fixing-scheme/feed/ 0
PHOTOS: Philly’s Bicentennial Bell moved into storage http://www.metro.us/newyork/news/local/2013/01/31/photos-phillys-bicentennial-bell-moved-into-storage/ http://www.metro.us/newyork/news/local/2013/01/31/photos-phillys-bicentennial-bell-moved-into-storage/#comments Thu, 31 Jan 2013 18:32:04 +0000 Metro Archive http://metro.1over0.com/newyork/uncategorized/2013/01/31/photos-phillys-bicentennial-bell-moved-into-storage/ The bell, cast in the same London foundry that in 1751 created the Liberty Bell, was a 1976 gift from Queen Elizabeth II celebrating the country's 200th birthday. Her trip to Philadelphia that year marked the first time a British monarch visited the city. The tower that until Thursday housed the bell is being demolished for the National Museum of the American Revolution. The bell will reportedly be relocated in Independence National Historic Park. ]]> The National Park Service on Thursday removed Philadelphia’s six-ton Bicentennial Bell from a 130-foot-tall brick tower near a former visitor center at 3rd and Chestnut streets and placed into storage.

The bell, cast in the same London foundry that in 1751 created the Liberty Bell, was a 1976 gift from Queen Elizabeth II celebrating the country’s 200th birthday. Her trip to Philadelphia that year marked the first time a British monarch visited the city.

The tower that until Thursday housed the bell is being demolished for the National Museum of the American Revolution. The bell will reportedly be relocated in Independence National Historic Park.

The post PHOTOS: Philly’s Bicentennial Bell moved into storage appeared first on Metro.us.

]]>
http://www.metro.us/newyork/news/local/2013/01/31/photos-phillys-bicentennial-bell-moved-into-storage/feed/ 0
Grand Central Terminal Turns 100 http://www.metro.us/newyork/news/local/2013/01/31/grand-central-terminal-turns-100/ http://www.metro.us/newyork/news/local/2013/01/31/grand-central-terminal-turns-100/#comments Thu, 31 Jan 2013 17:43:56 +0000 Metro Archive http://metro.1over0.com/newyork/uncategorized/2013/01/31/grand-central-terminal-turns-100/ But with the help of renovations, it has reemerged as a beloved architectural gem, visited by roughly 750,000 people each day. “The design is impeccable,” said MTA spokeswoman Marjorie Anders. “The feeling that you get when you walk into the main concourse with its soaring arched ceiling and its magnificent monumental windows and the stars coming down, it has a visceral effect on people.” Most visitors to the terminal ride the subway or Metro-North trains, check out the 35 eating establishments or 68 shops, take a walking tour or self-guided audio tour, or just pass through to avoid bad weather outside. Others are content simply to gawk up at the ceiling in wonder, much the same way people did when Grand Central Terminal first opened in 1913. In fact, shipping tycoon Cornelius Vanderbilt completed the first Grand Central, called Grand Central Depot, even earlier. “When he built the original one (in 1871), it was far out of town,” said Anthony W. Robins, co-author of “Grand Central Terminal: 100 Years of a New York Landmark.” “The city was concentrated much further south.” In 1900, the depot was renamed Grand Central Station following a large expansion effort. Two years later, however, a train collision in a smoke-filled tunnel killed 15 and injured 38, prompting demands for electric trains to replace steam-powered ones. That’s exactly what the station’s owners decided to do. During the construction of Grand Central Terminal from 1903 to 1913, they electrified and buried the tracks, which used to look somewhat like Sunnyside Yards in Queens. “It really created East Midtown,” Robins said in reference to the new buildings that popped up on site.
People originally flocked there in droves. In addition to the train tracks, a movie theater, an art school, CBS’ television studios and tennis courts could all be found there at various points. Nonetheless, it eventually began to deteriorate as focus shifted from train to car and air travel.
“It was dangerous, it was filthy and there was a huge homeless population,” Robins said. In the 1970s, the city – with the help of celebrities like Jacqueline Kennedy Onassis – narrowly averted an attempt to essentially replace the structure with a 55-story skyscraper.
Renovations have since restored its former splendor. “It’s come through all of these hard times,” Robins said. “In a way it’s mirrored the progress of the city over the last 40 years.”
Grand Central Timeline -1903: Construction begins on Grand Central Terminal. Three churches, an orphan asylum, 120 houses and a number of other structures are demolished to clear space. -1913: The station, which cost over $2 billion in today’s dollars, opens to the public at midnight on Feb. 1. The first train leaves 20 minutes later. -1967: New York’s Landmarks Preservation Commission, which formed soon after the destruction of nearby Pennsylvania Station, designates Grand Central as a landmark. -1976: Croatian nationalists plant a bomb in a Grand Central locker, which kills a police officer during a botched disarming operation. -1978: The U.S. Supreme Court upholds Grand Central’s landmark status, thereby thwarting efforts to replace it with a skyscraper. -1991: Amtrak moves its operations from Grand Central to Penn Station. -1998: A major renovation to restore the station’s former splendor is (mostly) completed.
Nooks and crannies of Grand Central -The world’s largest clock made with Tiffany glass, measuring 14 feet in diameter, stands near Grand Central’s 42nd Street entrance next to statues of Minerva, Hercules and Mercury. -Carved acorns and oak leaves found throughout the terminal are the family symbol of the Vanderbilts, who played a major role in the station’s development. -A hidden spiral staircase connects the main concourse information booth with a lower level information booth. -A whispering gallery, located near the Oyster Bar & Restaurant, carries the tiniest bit of sound from one corner of a 50-foot-wide domed chamber across the ceiling to another corner.]]>
Equal parts transit hub and tourist destination, Grand Central Terminal celebrates its 100th birthday on Friday.

The iconic station has experienced its share of difficulties over the years, most notably when it fell into disrepair and was nearly wrecked to make way for a skyscraper.
But with the help of renovations, it has reemerged as a beloved architectural gem, visited by roughly 750,000 people each day.

“The design is impeccable,” said MTA spokeswoman Marjorie Anders. “The feeling that you get when you walk into the main concourse with its soaring arched ceiling and its magnificent monumental windows and the stars coming down, it has a visceral effect on people.”

Most visitors to the terminal ride the subway or Metro-North trains, check out the 35 eating establishments or 68 shops, take a walking tour or self-guided audio tour, or just pass through to avoid bad weather outside.

Others are content simply to gawk up at the ceiling in wonder, much the same way people did when Grand Central Terminal first opened in 1913.

In fact, shipping tycoon Cornelius Vanderbilt completed the first Grand Central, called Grand Central Depot, even earlier.

“When he built the original one (in 1871), it was far out of town,” said Anthony W. Robins, co-author of “Grand Central Terminal: 100 Years of a New York Landmark.” “The city was concentrated much further south.”

In 1900, the depot was renamed Grand Central Station following a large expansion effort. Two years later, however, a train collision in a smoke-filled tunnel killed 15 and injured 38, prompting demands for electric trains to replace steam-powered ones.

That’s exactly what the station’s owners decided to do. During the construction of Grand Central Terminal from 1903 to 1913, they electrified and buried the tracks, which used to look somewhat like Sunnyside Yards in Queens.

“It really created East Midtown,” Robins said in reference to the new buildings that popped up on site.
People originally flocked there in droves. In addition to the train tracks, a movie theater, an art school, CBS’ television studios and tennis courts could all be found there at various points.

Nonetheless, it eventually began to deteriorate as focus shifted from train to car and air travel.
“It was dangerous, it was filthy and there was a huge homeless population,” Robins said.

In the 1970s, the city – with the help of celebrities like Jacqueline Kennedy Onassis – narrowly averted an attempt to essentially replace the structure with a 55-story skyscraper.
Renovations have since restored its former splendor.

“It’s come through all of these hard times,” Robins said. “In a way it’s mirrored the progress of the city over the last 40 years.”

Grand Central Timeline

-1903: Construction begins on Grand Central Terminal. Three churches, an orphan asylum, 120 houses and a number of other structures are demolished to clear space.

-1913: The station, which cost over $2 billion in today’s dollars, opens to the public at midnight on Feb. 1. The first train leaves 20 minutes later.

-1967: New York’s Landmarks Preservation Commission, which formed soon after the destruction of nearby Pennsylvania Station, designates Grand Central as a landmark.

-1976: Croatian nationalists plant a bomb in a Grand Central locker, which kills a police officer during a botched disarming operation.

-1978: The U.S. Supreme Court upholds Grand Central’s landmark status, thereby thwarting efforts to replace it with a skyscraper.

-1991: Amtrak moves its operations from Grand Central to Penn Station.

-1998: A major renovation to restore the station’s former splendor is (mostly) completed.

Nooks and crannies of Grand Central

-The world’s largest clock made with Tiffany glass, measuring 14 feet in diameter, stands near Grand Central’s 42nd Street entrance next to statues of Minerva, Hercules and Mercury.

-Carved acorns and oak leaves found throughout the terminal are the family symbol of the Vanderbilts, who played a major role in the station’s development.

-A hidden spiral staircase connects the main concourse information booth with a lower level information booth.

-A whispering gallery, located near the Oyster Bar & Restaurant, carries the tiniest bit of sound from one corner of a 50-foot-wide domed chamber across the ceiling to another corner.

The post Grand Central Terminal Turns 100 appeared first on Metro.us.

]]>
http://www.metro.us/newyork/news/local/2013/01/31/grand-central-terminal-turns-100/feed/ 0
Gov. Tom Corbett serves up plan to privatize Pa. liquor sales http://www.metro.us/newyork/news/local/2013/01/31/gov-tom-corbett-serves-up-plan-to-privatize-pa-liquor-sales/ http://www.metro.us/newyork/news/local/2013/01/31/gov-tom-corbett-serves-up-plan-to-privatize-pa-liquor-sales/#comments Thu, 31 Jan 2013 17:42:46 +0000 Metro Archive http://metro.1over0.com/newyork/uncategorized/2013/01/31/gov-tom-corbett-serves-up-plan-to-privatize-pa-liquor-sales/ Reactions
Some stakeholders decried what they say are threats to middle-class unionized jobs and small businesses, as well as a blow to state revenue. "We all know what will become of our distributors and taverns that rely on beer sales and have adapted in order to compete in a closed system. They will fail and those local businesses that support our little league teams and volunteer firefighter organizations will be lost, replaced by indifferent big box stores run by huge corporations." – State Sen. Jim Ferlo "It’s nice that the governor has acknowledged that he created a school funding crisis, but our students shouldn’t have to count on liquor being available on every corner in order to have properly funded schools. We need to restore the nearly $1 billion in education cuts made by Governor Corbett with an adequate and sustainable funding plan, not with money that doesn’t exist." – Pennsylvania State Education Association president Mike Crossey "The governor is targeting 5,000 family-sustaining jobs and more than $500 million a year in taxes and profits that this valuable, publicly held asset provides.” – President of United Food and Commercial Workers Union Local 1776 Wendell W. Young IV "The governor’s fixation with privatization now includes a bizarre and unhealthy attempt to tie education achievement to what can only be described as a one-time alcohol funded stimulus package." – State Sen. John Yudichak   Consumers, for the most part, rejoiced over the prospect of the increased convenience and choice the plan would offer. "PA liquor stores potentially going away? F––k yeah welcome to the rest of America!" – @robothero "I'm very excited about Governor Corbett's plan to privatize the liquor board. The government shouldn't be the only seller in a free market." – @darin22b "PA bout to have a one stop shop, liquor beer grocery store all in one." – @_StackzXo Though not everyone was so happy. "Ya know who loves @GovernorCorbett's cynical plan to sell off our liquor stores? CVS, Walgreens, Rite-Aid and Walmart." – @tettemer]]>
Gov. Tom Corbett was in Philadelphia on Thursday to discuss his plan to privatize Pennsylvania’s liquor sales.

“Here in Philadelphia, we know that there are a few people – no, make that many people – that get in their cars and travel across those bridges or travel down 95 and over to Delaware or New Jersey to buy their alcohol,” Corbett said. “I want a system that gives our people the flexibility to have their purchases here in Pennsylvania.”

Corbett’s plan would over the next four years allow customers to purchase beer and wine from grocery stores and big box retailers, buy six-packs from convenience stores and obtain takeout bottles of wine from restaurants and taverns.

It would also allow beer distributors that obtain the proper licenses to become “one-stop shops” slinging wine, liquor and six-packs. Distributors can currently only sell beer by the keg or case.

The number of alcohol retailers in the state would double. “This proposal would allow the number of establishments to be naturally driven by the free market, as it is in other states,” Corbett said.

Aside from Utah, Pennsylvania is the only state that controls its own liquor sales.

“Simply put, I am proposing that Pennsylvania join the ranks of those 48 other states and once and for all get out of the business of selling wine and liquor, get out of the business of being a monopoly,” Corbett said.

An estimated $1 billion in revenue from the auction of retail and wholesale liquor licenses, as well as from stepped-up enforcement and penalties of alcohol sale violations included in the plan, will go to block grant to fund public schools and childhood enrichment education.

“It is time for Pennsylvania to lift the rules put in place 75 years ago,” Corbett said. “Because the selling of alcohol is clearly not a core responsibility of government, but education is.”

Reactions

Some stakeholders decried what they say are threats to middle-class unionized jobs and small businesses, as well as a blow to state revenue.

“We all know what will become of our distributors and taverns that rely on beer sales and have adapted in order to compete in a closed system. They will fail and those local businesses that support our little league teams and volunteer firefighter organizations will be lost, replaced by indifferent big box stores run by huge corporations.”

– State Sen. Jim Ferlo

“It’s nice that the governor has acknowledged that he created a school funding crisis, but our students shouldn’t have to count on liquor being available on every corner in order to have properly funded schools. We need to restore the nearly $1 billion in education cuts made by Governor Corbett with an adequate and sustainable funding plan, not with money that doesn’t exist.”

– Pennsylvania State Education Association president Mike Crossey

“The governor is targeting 5,000 family-sustaining jobs and more than $500 million a year in taxes and profits that this valuable, publicly held asset provides.”

– President of United Food and Commercial Workers Union Local 1776 Wendell W. Young IV

“The governor’s fixation with privatization now includes a bizarre and unhealthy attempt to tie education achievement to what can only be described as a one-time alcohol funded stimulus package.”

– State Sen. John Yudichak  

Consumers, for the most part, rejoiced over the prospect of the increased convenience and choice the plan would offer.

“PA liquor stores potentially going away? F––k yeah welcome to the rest of America!”

– @robothero

“I’m very excited about Governor Corbett’s plan to privatize the liquor board. The government shouldn’t be the only seller in a free market.”

– @darin22b

“PA bout to have a one stop shop, liquor beer grocery store all in one.”

– @_StackzXo

Though not everyone was so happy.

“Ya know who loves @GovernorCorbett’s cynical plan to sell off our liquor stores? CVS, Walgreens, Rite-Aid and Walmart.”

– @tettemer

The post Gov. Tom Corbett serves up plan to privatize Pa. liquor sales appeared first on Metro.us.

]]>
http://www.metro.us/newyork/news/local/2013/01/31/gov-tom-corbett-serves-up-plan-to-privatize-pa-liquor-sales/feed/ 0
State board: Happy hour regulations should not change despite free drinks at casinos http://www.metro.us/newyork/news/2013/01/31/state-board-happy-hour-regulations-should-not-change-despite-free-drinks-at-casinos/ http://www.metro.us/newyork/news/2013/01/31/state-board-happy-hour-regulations-should-not-change-despite-free-drinks-at-casinos/#comments Thu, 31 Jan 2013 16:49:14 +0000 Metro Archive http://metro.1over0.com/newyork/uncategorized/2013/01/31/state-board-happy-hour-regulations-should-not-change-despite-free-drinks-at-casinos/ most of the restaurant and bar owners in attendance opposed reinstating "happy hour" citing concerns about over consumption and a potential increase in new, inexperienced establishments seeking to cash in on it. State Treasurer Steve Grossman, who oversees the ABCC, said he strongly supports the commission's findings. "Public safety was a key factor in conducting this review, and the overwhelming sentiment is that scaling back the Happy Hour Regulation would compromise the lives and well-being of the residents of the Commonwealth," he said in a statement. "The Regulation is supported by bar and tavern owners, the law enforcement community, and public safety officials, who all believe that it has played a substantial part in preventing unthinkable tragedies."]]> You can finally stop holding your breath, college students.

“Happy hour” will not be coming to Massachusetts.

After a series of public hearings held throughout the state last year that sought input on a possible change to the state’s “happy hour” regulations to prevent “unfair competition” from future casinos, the Alcoholic Beverages Control Commission issued its final report today.

The commission cited concerns over public safety as one reason why they were not recommending bringing back “happy hour.”

“The record of comments shows a clear and convincing concern that any change to the Happy Hour Regulation will have a negative impact on the public safety in the Commonwealth,” the commission wrote in its report.

When the expanded gambling bill was passed, it allowed for free drinks to be offered to patrons of the gaming establishment. The law also required the ABCC to examine whether that was negatively impact restaurants and bars who were prohibited from doing so. Commission members wrote that they found no basis for unfair competition.

“The Commission has found no factual basis and no basis compelled by applicable law to amend (the Happy Hour Regulation) in order to protect on-premises alcoholic beverages Licensees from unfair competition with proposed gaming establishments,” the report said.

During a hearing on the issue in August, most of the restaurant and bar owners in attendance opposed reinstating “happy hour” citing concerns about over consumption and a potential increase in new, inexperienced establishments seeking to cash in on it.

State Treasurer Steve Grossman, who oversees the ABCC, said he strongly supports the commission’s findings.

“Public safety was a key factor in conducting this review, and the overwhelming sentiment is that scaling back the Happy Hour Regulation would compromise the lives and well-being of the residents of the Commonwealth,” he said in a statement. “The Regulation is supported by bar and tavern owners, the law enforcement community, and public safety officials, who all believe that it has played a substantial part in preventing unthinkable tragedies.”

The post State board: Happy hour regulations should not change despite free drinks at casinos appeared first on Metro.us.

]]>
http://www.metro.us/newyork/news/2013/01/31/state-board-happy-hour-regulations-should-not-change-despite-free-drinks-at-casinos/feed/ 0
Brooklyn yeshiva teacher accused of molesting teen boys http://www.metro.us/newyork/news/local/2013/01/31/brooklyn-yeshiva-teacher-accused-of-molesting-teen-boys/ http://www.metro.us/newyork/news/local/2013/01/31/brooklyn-yeshiva-teacher-accused-of-molesting-teen-boys/#comments Thu, 31 Jan 2013 13:59:19 +0000 Metro Archive http://metro.1over0.com/newyork/uncategorized/2013/01/31/brooklyn-yeshiva-teacher-accused-of-molesting-teen-boys/  
Brooklyn District Attorney Charles Hynes' office said Malik has not yet been arraigned. His lawyer, Stacey Richman, was reportedly in court and could not be reached for questions. In 2009, the DA's office set up a hotline specifically for sex abuse victims in the Orthodox Jewish community, referred to as Kol Tzedek. Spokesman Sandy Silverstein said they've "gotten a number of calls" but did not provide exact figures. Silverstein said that since it was established in 2009, the hotline has resulted in more than 100 cases (not necessarily convictions). The call reporting the allegations against Malik did not go through Kol Tzedek, according to Silverstein.

Follow Danielle Tcholakian on Twitter @danielleiat
]]>
On the heels of convicted child molester Nechemya Weberman’s sentencing last week to 103 years in prison, the Brooklyn Hasidic community is again facing allegations of child sex abuse in their midst.

33-year-old Yoel Malik was arrested last night and charged with several counts of sex abuse and endangering the welfare of a child, based on reports that he molested at least four teenage boys.

Malik and the four victims are all members of the Satmar sect and part of the Hasidic community in Brooklyn, officials said. Malik was a teacher at the Yeshiva Ohr-Hamier, which is reportedly closed for financial reasons. All of the victims were students at the school for the 2011-2012 school year.

Nechemya Weberman, an unlicensed therapist jailed for molesting a young girl sent to him for counseling, was also a member of the Brooklyn Satmar Hasidic community.

The NYPD rape hotline received an anonymous call on Sunday reporting an alleged victim of sexual assault, and naming Malik as the assailant. According to the caller, Malik took the victim to a motel at 400 Washinton Avenue in Brooklyn for seven hours.

Police say video footage from the location shows Malik and the victim entering the motel, and the room, as well as leaving the hotel seven hours later.

Police say the victim agreed to discuss the allegations after a pre-planned two-week trip to Israel, but refused to say more over the phone because his parents were present. He is 16 years old.

The caller reported three other victims. Two are 16, the other is 15.

Malik allegedly engaged in various acts with the boys, ranging from fondling to oral and anal sex. The alleged incidents took place in motels and Malik’s car, and a few reportedly occurred in Monticello, NY. The fourth victim reported one experience in a synagogue in Williamsburg.

Cops say Malik told them he was a victim of sexual abuse at age 12 as well, at the hands of a family friend, but refused to produce further information on the incident.

Police report he admitted hotel encounters with the first two victims. The second victim told police Malik massaged his back and neck, and provided him with cigarettes as they watched TV together for three hours in a motel on Shore Parkway. Police say Malik confessed to the massage, but denied providing cigarettes or alcohol.

Malik also confirmed the encounters reported by the third victim, though denied any sexual activity took place, police said. The third victim told police Malik drove him home from school on two occasions and molested him in the car the first time. A week later Malik allegedly performed oral sex on another teenager in the backseat while the third victim was in the passenger seat. When the boy told Malik to stop on the first occasion, he reportedly did; when he asked to be taken home immediately on the second occasion, Malik complied as well.

Malik accused the victims of making sexual advances toward him, which he told police he refused.
 

Brooklyn District Attorney Charles Hynes’ office said Malik has not yet been arraigned. His lawyer, Stacey Richman, was reportedly in court and could not be reached for questions.

In 2009, the DA’s office set up a hotline specifically for sex abuse victims in the Orthodox Jewish community, referred to as Kol Tzedek. Spokesman Sandy Silverstein said they’ve “gotten a number of calls” but did not provide exact figures. Silverstein said that since it was established in 2009, the hotline has resulted in more than 100 cases (not necessarily convictions).

The call reporting the allegations against Malik did not go through Kol Tzedek, according to Silverstein.

Follow Danielle Tcholakian on Twitter @danielleiat

The post Brooklyn yeshiva teacher accused of molesting teen boys appeared first on Metro.us.

]]>
http://www.metro.us/newyork/news/local/2013/01/31/brooklyn-yeshiva-teacher-accused-of-molesting-teen-boys/feed/ 0
Protesters to demand an end to MBTA’s random bag inspections http://www.metro.us/newyork/news/2013/01/31/protesters-to-demand-an-end-to-mbtas-random-bag-inspections/ http://www.metro.us/newyork/news/2013/01/31/protesters-to-demand-an-end-to-mbtas-random-bag-inspections/#comments Thu, 31 Jan 2013 13:54:09 +0000 Metro Archive http://metro.1over0.com/newyork/uncategorized/2013/01/31/protesters-to-demand-an-end-to-mbtas-random-bag-inspections/ a group of people who are fed up with the inspections will descend upon the MBTA to voice outrage over what they call "un-warranted bag checks in subways." Organizers have dubbed the protest "TSA out of MBTA Day of Action." The MBTA has been conducting the random security inspections regularly since October 2006, the same year a federal appeals court ruled that random bag searches do not violate the Fourth Amendment. Passengers are selected on a random basis through the use of a computer generated sequence of numbers. Inspectors brush the exterior of carry-on bags with a swab that is placed in explosive trace detection equipment.   The process should take about 20 seconds if no positive reading occurs, according to Transit Police. "They are not searches. These random, non-intrusive inspections take place every week at various stations," MBTA Spokesman Joe Pesaturo said. Organizers of Saturday's event said in a press release that they planned to reach out to the MBTA, Governor Deval Patrick, The Dept. of Homeland Security and Mayor Thomas M. Menino to demand an end to the inspections. According to Pesaturo, "There have been very few complaints in six years." Saturday's demonstration will start at noon, with protesters gathering at five points in the city - Harvard Square, South Station, Lechmere Station, Kenmore Square, and Ruggles Station. At 3 p.m., protesters will band together at the Parkman Bandstand on Boston Common. The Fourth Amendment of the U.S. Constitution states: "The right of the people to be secure in their persons, houses, papers, and effects, against unreasonable searches and seizures, shall not be violated, and no warrants shall issue, but upon probably cause, supported by oath or affirmation, and particularly describing the place to be searched, and the person or things to be seized." In August 2006, The U.S. Court of Appeals for the 2nd Circuit in New York upheld a decision that bag inspections on the MTA do not violate the Fourth Amendment if they are based on a "special need" to conduct inspections without a warrant and are tailored to protect the rights of individual riders. According to the ruling, inspections are legal as long as: 1) Riders get general notice of the program
2) The inspections focus on baggage large enough to carry explosives
3) It's quick
4) It's conducted in the open
5) Persons to be inspected are selected via a predetermined cycle - i.e. one out of every five Details about Saturday's event can be found at OccupyBoston.org. Route information is available below: ]]>
You know the feeling; avoiding eye contact with Transit Police as you pass by the T’s random security inspection tables even though you (probably) have nothing to hide.

Most people cringe when authorities rummage through their belongings, but they deal with it. But on Saturday, a group of people who are fed up with the inspections will descend upon the MBTA to voice outrage over what they call “un-warranted bag checks in subways.”

Organizers have dubbed the protest “TSA out of MBTA Day of Action.”

The MBTA has been conducting the random security inspections regularly since October 2006, the same year a federal appeals court ruled that random bag searches do not violate the Fourth Amendment.

Passengers are selected on a random basis through the use of a computer generated sequence of numbers. Inspectors brush the exterior of carry-on bags with a swab that is placed in explosive trace detection equipment.  

The process should take about 20 seconds if no positive reading occurs, according to Transit Police.

“They are not searches. These random, non-intrusive inspections take place every week at various stations,” MBTA Spokesman Joe Pesaturo said.

Organizers of Saturday’s event said in a press release that they planned to reach out to the MBTA, Governor Deval Patrick, The Dept. of Homeland Security and Mayor Thomas M. Menino to demand an end to the inspections.

According to Pesaturo, “There have been very few complaints in six years.”

Saturday’s demonstration will start at noon, with protesters gathering at five points in the city – Harvard Square, South Station, Lechmere Station, Kenmore Square, and Ruggles Station.

At 3 p.m., protesters will band together at the Parkman Bandstand on Boston Common.

The Fourth Amendment of the U.S. Constitution states: “The right of the people to be secure in their persons, houses, papers, and effects, against unreasonable searches and seizures, shall not be violated, and no warrants shall issue, but upon probably cause, supported by oath or affirmation, and particularly describing the place to be searched, and the person or things to be seized.”

In August 2006, The U.S. Court of Appeals for the 2nd Circuit in New York upheld a decision that bag inspections on the MTA do not violate the Fourth Amendment if they are based on a “special need” to conduct inspections without a warrant and are tailored to protect the rights of individual riders.

According to the ruling, inspections are legal as long as:

1) Riders get general notice of the program
2) The inspections focus on baggage large enough to carry explosives
3) It’s quick
4) It’s conducted in the open
5) Persons to be inspected are selected via a predetermined cycle – i.e. one out of every five

Details about Saturday’s event can be found at OccupyBoston.org.

Route information is available below:

The post Protesters to demand an end to MBTA’s random bag inspections appeared first on Metro.us.

]]>
http://www.metro.us/newyork/news/2013/01/31/protesters-to-demand-an-end-to-mbtas-random-bag-inspections/feed/ 0
Toro Y Moi: Pop cruise http://www.metro.us/newyork/entertainment/2013/01/31/toro-y-moi-pop-cruise/ http://www.metro.us/newyork/entertainment/2013/01/31/toro-y-moi-pop-cruise/#comments Thu, 31 Jan 2013 13:26:12 +0000 Metro Archive http://metro.1over0.com/newyork/uncategorized/2013/01/31/toro-y-moi-pop-cruise/ Chaz Bundick straddles both coasts and collaborates with hot ticket friends as music artist Toro Y Moi.  Toro Y Moi’s name could be a shout out to Hemingway, sushi, or haters of R&B, it’s an interpretive call.  His music is extremely accessible, down-tempo synth, fitting for a coastline drive or cocktail hour.  Or a nightcap.

Anything in Return is the artist’s third full-length release, out this month on Carpark.  The striking thing about Toro Y Moi is the focused way the artist presents himself vocally and on camera; sort of zen with panache.  Bundick comes across centered, laid-back, and forthright.  A young artist with style, Chaz is the attractive nerd you want to get to know.   

Toro Y Moi plays Webster Hall Feb 13 and Music Hall of Williamsburg Feb 14.

The post Toro Y Moi: Pop cruise appeared first on Metro.us.

]]>
http://www.metro.us/newyork/entertainment/2013/01/31/toro-y-moi-pop-cruise/feed/ 0
Suspected South Shore serial arsonists arrested http://www.metro.us/newyork/news/2013/01/31/suspected-south-shore-serial-arsonists-arrested/ http://www.metro.us/newyork/news/2013/01/31/suspected-south-shore-serial-arsonists-arrested/#comments Thu, 31 Jan 2013 13:13:00 +0000 Metro Archive http://metro.1over0.com/newyork/uncategorized/2013/01/31/suspected-south-shore-serial-arsonists-arrested/ a string of arson fires on the South Shore in recent months. Mark Sargent, 45, and Jeanmarie Louis, 23, are so far charged with burning a building and attempt to burn a public building, according to the Plymouth district attorney's office. The office scheduled a news conference this afternoon with the state fire marshal to release more information. During their arraignment in Brockton District Court this morning, a prosecutor said authorities have linked Sargent to nearly two dozen other fires in recent months, according to the Globe.]]> Two Middleboro men were arrested in connection with a fire in West Bridgewater and authorities believe they may be responsible for a string of arson fires on the South Shore in recent months.

Mark Sargent, 45, and Jeanmarie Louis, 23, are so far charged with burning a building and attempt to burn a public building, according to the Plymouth district attorney’s office.

The office scheduled a news conference this afternoon with the state fire marshal to release more information.

During their arraignment in Brockton District Court this morning, a prosecutor said authorities have linked Sargent to nearly two dozen other fires in recent months, according to the Globe.

The post Suspected South Shore serial arsonists arrested appeared first on Metro.us.

]]>
http://www.metro.us/newyork/news/2013/01/31/suspected-south-shore-serial-arsonists-arrested/feed/ 0
Boston pushing for better nutrition, activity in childcare programs http://www.metro.us/newyork/news/2013/01/31/boston-pushing-for-better-nutrition-activity-in-childcare-programs/ http://www.metro.us/newyork/news/2013/01/31/boston-pushing-for-better-nutrition-activity-in-childcare-programs/#comments Thu, 31 Jan 2013 13:08:57 +0000 Metro Archive http://metro.1over0.com/newyork/uncategorized/2013/01/31/boston-pushing-for-better-nutrition-activity-in-childcare-programs/ Boston Moves for Health  that promotes  physical activity and healthy nutrition among the city’s childcare programs. Tomorrow Franklin Square House Children’s Center in Roxbury, Cribs & Cradles Family Child Care in Dorchester, and Small Fry Fun House Daycare, also in Roxbury, will be recognized as the city's first programs to adopt the initiative’s "best practice standards," according to health officials. Menino's Boston Moves for Health program was created in the hopes of improving the health and wellness of the city by increasing access to free and low-cost physical activities and healthy living resources.  Menino has challenged Bostonians to lose one million pounds and move ten million miles together. 
]]>
As rates of obese and overweight children continue to skyrocket, Boston health officials are launching a new initiative aimed at childcare programs.

Barbara Ferrer, executive director of the Boston Public Health Commission, today announced the Boston Healthy Childcare Initiative, a program of Boston Moves for Health  that promotes  physical activity and healthy nutrition among the city’s childcare programs.

Tomorrow Franklin Square House Children’s Center in Roxbury, Cribs & Cradles Family Child Care in Dorchester, and Small Fry Fun House Daycare, also in Roxbury, will be recognized as the city’s first programs to adopt the initiative’s “best practice standards,” according to health officials.

Menino’s Boston Moves for Health program was created in the hopes of improving the health and wellness of the city by increasing access to free and low-cost physical activities and healthy living resources.  Menino has challenged Bostonians to lose one million pounds and move ten million miles together. 

The post Boston pushing for better nutrition, activity in childcare programs appeared first on Metro.us.

]]>
http://www.metro.us/newyork/news/2013/01/31/boston-pushing-for-better-nutrition-activity-in-childcare-programs/feed/ 0
City gives safety vests to delivery bikers, hoping to make streets safer http://www.metro.us/newyork/news/local/2013/01/31/city-gives-safety-vests-to-delivery-bikers-hoping-to-make-streets-safer/ http://www.metro.us/newyork/news/local/2013/01/31/city-gives-safety-vests-to-delivery-bikers-hoping-to-make-streets-safer/#comments Thu, 31 Jan 2013 12:39:19 +0000 Metro Archive http://metro.1over0.com/newyork/uncategorized/2013/01/31/city-gives-safety-vests-to-delivery-bikers-hoping-to-make-streets-safer/ forums around the city, where business owners and cyclists can learn about bike safety laws. Many people have complained that some delivery cyclists can be reckless as they rush to fill orders. DOT instructors visit businesses – 3,530 since July, according to the city – to tell them that they must provide helmets, bikes, vests and identification numbers to all delivery bikers. Fines for not following these requirements can be as much as $250. About 57 percent of businesses comply, according to the DOT. Beginning in April, DOT employees will enforce rules requiring delivery cyclists to complete an online safety course covering the laws. “New Yorkers want their deliveries in a New York minute, but the businesses that employ bike riders need to be as up to speed safety as they are on making fast deliveries,” DOT Commissioner Janette Sadik-Khan said. The eight forums will be in Queens, Manhattan and Brooklyn beginning Feb. 21, with a 3 p.m. event at the Brooklyn Arts Exchange.]]> Many New Yorkers might have ducked out of the way as a delivery biker careened down a street, rushing to make a delivery on time.

In an effort to make street users safer, the Department of Transportation announced today that they will give 1,500 cyclists safety gear.

The safety initiative, called SaferHood, will distribute bells, bike lights and reflective vests.

The equipment will be given out at forums around the city, where business owners and cyclists can learn about bike safety laws.

Many people have complained that some delivery cyclists can be reckless as they rush to fill orders.

DOT instructors visit businesses – 3,530 since July, according to the city – to tell them that they must provide helmets, bikes, vests and identification numbers to all delivery bikers.

Fines for not following these requirements can be as much as $250.

About 57 percent of businesses comply, according to the DOT.

Beginning in April, DOT employees will enforce rules requiring delivery cyclists to complete an online safety course covering the laws.

“New Yorkers want their deliveries in a New York minute, but the businesses that employ bike riders need to be as up to speed safety as they are on making fast deliveries,” DOT Commissioner Janette Sadik-Khan said.

The eight forums will be in Queens, Manhattan and Brooklyn beginning Feb. 21, with a 3 p.m. event at the Brooklyn Arts Exchange.

The post City gives safety vests to delivery bikers, hoping to make streets safer appeared first on Metro.us.

]]>
http://www.metro.us/newyork/news/local/2013/01/31/city-gives-safety-vests-to-delivery-bikers-hoping-to-make-streets-safer/feed/ 0
MBTA officials report 2.3 percent ridership increase in 2012 http://www.metro.us/newyork/news/2013/01/31/mbta-officials-report-2-3-percent-ridership-increase-in-2012/ http://www.metro.us/newyork/news/2013/01/31/mbta-officials-report-2-3-percent-ridership-increase-in-2012/#comments Thu, 31 Jan 2013 12:33:21 +0000 Metro Archive http://metro.1over0.com/newyork/uncategorized/2013/01/31/mbta-officials-report-2-3-percent-ridership-increase-in-2012/ Despite fare increases, cuts in service and scores of constantly dissatisfied customers, the MBTA today reported that nearly 400 million people rode the T in 2012.   

System-wide ridership for the year was 2.3 percent higher than 2011, according to T officials.

When the fare increase was first proposed, analysts projected a ridership decrease of as much as 5.5 percent.  Last year marked the first time that average daily ridership was above 1.3 million for an entire calendar year.

The post MBTA officials report 2.3 percent ridership increase in 2012 appeared first on Metro.us.

]]>
http://www.metro.us/newyork/news/2013/01/31/mbta-officials-report-2-3-percent-ridership-increase-in-2012/feed/ 0
Mayor Menino says he won’t close mouth on gun reform until action taken http://www.metro.us/newyork/news/2013/01/31/mayor-menino-says-he-wont-close-mouth-on-gun-reform-until-action-taken/ http://www.metro.us/newyork/news/2013/01/31/mayor-menino-says-he-wont-close-mouth-on-gun-reform-until-action-taken/#comments Thu, 31 Jan 2013 12:30:53 +0000 Metro Archive http://metro.1over0.com/newyork/uncategorized/2013/01/31/mayor-menino-says-he-wont-close-mouth-on-gun-reform-until-action-taken/ Until something gets done on gun control, Mayor Thomas Menino plans to keep talking.

Menino, who is also the co-chair of the coalition Mayors Against Illegal Guns, joined more than a dozen other Massachusetts mayors today at his temporary Beacon Hill home to record a Public Service Announcement calling for action on gun law reform that will soon air across the state.

“We’re not going to let this fade away,” said Menino, “even if we have to talk about it every single day.”

Menino’s group, which nationally includes nearly 1,000 mayors, has called for many of the reforms proposed by President Barack Obama and Vice President Joe Biden including a ban on large capacity magazines, requiring background checks for every gun buyer and making gun trafficking a federal crime.

Somerville Mayor Joseph Curtatone, a former handgun owner, joined in Menino’s call for action and said he is a supporter of the Second Amendment who wants “sensible guidelines” and “common sense reforms” on gun laws.

“We support the Second Amendment … but our duty as municipal leaders and mayors is to protect the people we serve,” he said.

Menino said the Bay State has some of the toughest gun laws in the nation and the problem of gun violence is partly caused by the loopholes and loose laws in other states.

“Guns don’t stop at the borders,” he said. “They keep coming. You need nationwide legislation.”

Menino also used the opportunity to criticize the executive vice president of the National Rifle Association Wayne LaPierre, who called for armed guards inside schools after the Newtown school shooting.

“When LaPierre came out and said more guns are needed in schools, that’s crazy. He’s crazy,” Menino said. “The NRA just wants more guns.”

The post Mayor Menino says he won’t close mouth on gun reform until action taken appeared first on Metro.us.

]]>
http://www.metro.us/newyork/news/2013/01/31/mayor-menino-says-he-wont-close-mouth-on-gun-reform-until-action-taken/feed/ 0
VIDEO: Nunchuck-wielding thugs attack man for jacket http://www.metro.us/newyork/news/local/2013/01/31/video-nunchuck-wielding-thugs-attack-man-for-jacket/ http://www.metro.us/newyork/news/local/2013/01/31/video-nunchuck-wielding-thugs-attack-man-for-jacket/#comments Thu, 31 Jan 2013 11:02:12 +0000 Metro Archive http://metro.1over0.com/newyork/uncategorized/2013/01/31/video-nunchuck-wielding-thugs-attack-man-for-jacket/ www.nypdcrimestoppers.com or via text by texting TIP577 to 274637 (CRIMES).]]> Three teens assaulted a 25-year-old man Sunday afternoon at the West 157 Street subway station in Washington Heights.

The assailants approached the victim on the mezzanine of the station and told him they liked his jacket and wanted it.

They beat and kicked him and when he resisted, one of the suspects began to beat him with a pair of nunchucks.

The victim was able to escape through the turnstile and was treated at Columbia Presbyterian Hospital and released with lacerations to his head.

The suspects are between 17 and 19 years old, Hispanic and each about 5-foot-7 or -8 and 150 pounds. One wore a grey jacket and yellow and burgundy baseball cap; the second wore a grey jacket and green baseball cap; the third wore a black t-shirt and black-and-grey checkered scarf.

The assault was captured on surveillance video:

The NYPD requested that anyone with information about the suspects call the Crim Stoppers Hotline at 800-577-TIPS. Tips can also be submitted online at www.nypdcrimestoppers.com or via text by texting TIP577 to 274637 (CRIMES).

The post VIDEO: Nunchuck-wielding thugs attack man for jacket appeared first on Metro.us.

]]>
http://www.metro.us/newyork/news/local/2013/01/31/video-nunchuck-wielding-thugs-attack-man-for-jacket/feed/ 0
Stouffer’s Mac ‘N Cheese Truck: Delicious food for Hurricane Sandy relief http://www.metro.us/newyork/lifestyle/2013/01/31/stouffers-mac-n-cheese-truck-delicious-food-for-hurricane-sandy-relief/ http://www.metro.us/newyork/lifestyle/2013/01/31/stouffers-mac-n-cheese-truck-delicious-food-for-hurricane-sandy-relief/#comments Thu, 31 Jan 2013 09:59:43 +0000 Metro Archive http://metro.1over0.com/newyork/uncategorized/2013/01/31/stouffers-mac-n-cheese-truck-delicious-food-for-hurricane-sandy-relief/ Master of Spice chef Lior Lev Sercarz (he created the chili mac while fellow chef "Grill Girl" Elizabeth Karmel is the one behind the BBQ mac) to talk about the launch of the food truck and why Stouffer’s is so dedicated to bringing delicious, cheap food to New Yorkers all for a good cause. "They thought it would be fun to see how they could give their product a little twist," he says of the much-loved Stouffer’s mac and cheese. Finding out that they actually make their own pasta and use 100 percent cheddar cheese, Chef Sercarz explained how "we came up with five toppings to show that you can have the plain, classic one but if you want to change it once in a while, you can do it." Stouffer’s and Nestle, the parent company, are donating all of the proceeds from the sales of the $4 mac and cheese which is currently driving around New York City and opening its doors from about 11 a.m. until 3 p.m. Other than Chef Sercarz’s and Chef Karmel’s mac and cheese, Stouffer’s also invited six celebrity chefs to join in a friendly competition where they serve up their own take on macaroni and cheese--and the winner will have a $25,000 donation to the Mayor’s Fund to Advance New York City in support of hurricane relief efforts. Besides serving up the really delicious macaroni and cheese (the chili mac was my personal favorite), Chef Sercarz hopes that they will be able to raise as much money as possible and also interact with people to hear their own favorite versions of Stouffer’s mac and cheese. If you’re interested in some yummy for-a-good-cause $4 macaroni and cheese, check out one of these locations:
  • 1/28 Monday: 40th & 5th/Bryant Park
  • 1/29 Tuesday (Celebrity Chef Seamus Mullen): 26th bw 7 & 8 (Chelsea Television Studios)
  • 1/30 Wednesday: 23rd & Park (Madison Square Park)
  • 1/31 Thursday (Celebrity Chef Amanda Freitag): 48th & 3rd
  • 2/1 Friday: Hudson & King St (Tribeca)
  • 2/4 Monday: 14 & Irving (Union Square)
  • 2/5 Tuesday (Celebrity Chef Lee Ann Wong): 4 World Financial Center, North End Ave @ Vescey St
  • 2/6 Wednesday: 57 & 8th (Hearst Building*)
  • 2/7: Thursday (Celebrity Chef Marc Murphy): 46 & Vanderbilt (Grand Central area)
  • 2/8 Friday: Hanover Square
  • 2/11 Monday (Celebrity Chef Chris Santos): Varick & Vandam (SoHo)
  • 2/12 Tuesday: Water & Wall -OR- Broad
  • 2/13 Wednesday: 46 & 6th
  • 2/14 Thursday (Celebrity Chef Sarah Simmons): 48th & 3rd

You can also follow along with the Stouffer’s Mac ‘N Cheese Truck on Facebook, Twitter and #stouffersmobilemac. Enjoy it today and, trust me, you’ll be feeling good on many levels. (Images via Irina Gonzalez) ]]>
Do you know the only thing better than a classic macaroni and cheese dish that everyone loves? Buying that mac ‘n cheese in order to raise money for the victims of Hurricane Sandy. That’s what is currently happening thanks to the Stouffer’s Mac ‘N Cheese Truck going around New York City from today until Thursday, February 14th–the day of love to send a “big hug to New York.”

I was lucky enough to attend the new food truck’s kick-off event, where Stouffer’s representatives served up free macaroni and cheese (traditional, chili mac and BBQ mac) to Gerritsen Beach, Brooklyn, residents that were affected by the October disaster.

After trying the three different kids of macaroni and cheese (YUM!), I sat down with Master of Spice chef Lior Lev Sercarz (he created the chili mac while fellow chef “Grill Girl” Elizabeth Karmel is the one behind the BBQ mac) to talk about the launch of the food truck and why Stouffer’s is so dedicated to bringing delicious, cheap food to New Yorkers all for a good cause.

“They thought it would be fun to see how they could give their product a little twist,” he says of the much-loved Stouffer’s mac and cheese. Finding out that they actually make their own pasta and use 100 percent cheddar cheese, Chef Sercarz explained how “we came up with five toppings to show that you can have the plain, classic one but if you want to change it once in a while, you can do it.”

Stouffer’s and Nestle, the parent company, are donating all of the proceeds from the sales of the $4 mac and cheese which is currently driving around New York City and opening its doors from about 11 a.m. until 3 p.m. Other than Chef Sercarz’s and Chef Karmel’s mac and cheese, Stouffer’s also invited six celebrity chefs to join in a friendly competition where they serve up their own take on macaroni and cheese–and the winner will have a $25,000 donation to the Mayor’s Fund to Advance New York City in support of hurricane relief efforts.

Besides serving up the really delicious macaroni and cheese (the chili mac was my personal favorite), Chef Sercarz hopes that they will be able to raise as much money as possible and also interact with people to hear their own favorite versions of Stouffer’s mac and cheese.

If you’re interested in some yummy for-a-good-cause $4 macaroni and cheese, check out one of these locations:

  • 1/28 Monday: 40th & 5th/Bryant Park
  • 1/29 Tuesday (Celebrity Chef Seamus Mullen): 26th bw 7 & 8 (Chelsea Television Studios)
  • 1/30 Wednesday: 23rd & Park (Madison Square Park)
  • 1/31 Thursday (Celebrity Chef Amanda Freitag): 48th & 3rd
  • 2/1 Friday: Hudson & King St (Tribeca)
  • 2/4 Monday: 14 & Irving (Union Square)
  • 2/5 Tuesday (Celebrity Chef Lee Ann Wong): 4 World Financial Center, North End Ave @ Vescey St
  • 2/6 Wednesday: 57 & 8th (Hearst Building*)
  • 2/7: Thursday (Celebrity Chef Marc Murphy): 46 & Vanderbilt (Grand Central area)
  • 2/8 Friday: Hanover Square
  • 2/11 Monday (Celebrity Chef Chris Santos): Varick & Vandam (SoHo)
  • 2/12 Tuesday: Water & Wall -OR- Broad
  • 2/13 Wednesday: 46 & 6th
  • 2/14 Thursday (Celebrity Chef Sarah Simmons): 48th & 3rd

You can also follow along with the Stouffer’s Mac ‘N Cheese Truck on Facebook, Twitter and #stouffersmobilemac. Enjoy it today and, trust me, you’ll be feeling good on many levels.

(Images via Irina Gonzalez)

The post Stouffer’s Mac ‘N Cheese Truck: Delicious food for Hurricane Sandy relief appeared first on Metro.us.

]]>
http://www.metro.us/newyork/lifestyle/2013/01/31/stouffers-mac-n-cheese-truck-delicious-food-for-hurricane-sandy-relief/feed/ 0
MBTA reports morning delays on commuter line, light rail, buses http://www.metro.us/newyork/news/2013/01/31/mbta-reports-morning-delays-on-commuter-line-light-rail-buses/ http://www.metro.us/newyork/news/2013/01/31/mbta-reports-morning-delays-on-commuter-line-light-rail-buses/#comments Thu, 31 Jan 2013 09:35:01 +0000 Metro Archive http://metro.1over0.com/newyork/uncategorized/2013/01/31/mbta-reports-morning-delays-on-commuter-line-light-rail-buses/ MBTA officials have reported wide spread disruptions in service this morning.

The Providence/Stoughton commuter rail line was delayed 15-30 minutes this morning, and all south side commuter rail lines faced delays of up to 20 minutes due to signal problems.

The Lowell commuter line faced 15-minute hold ups due to the weather.

The Green Line was disabled for a bit due to a medical emergency, and the Red Line saw 20-minute delays thanks to a disabled train.

Weather and traffic caused widespread bus delays as well. As of 9:45 a.m. the T was still struggling with keeping service on schedule – residual delays are likely throughout the morning.

The post MBTA reports morning delays on commuter line, light rail, buses appeared first on Metro.us.

]]>
http://www.metro.us/newyork/news/2013/01/31/mbta-reports-morning-delays-on-commuter-line-light-rail-buses/feed/ 0
EMT convicted of sex crimes http://www.metro.us/newyork/news/local/2013/01/31/emt-convicted-of-sex-crimes/ http://www.metro.us/newyork/news/local/2013/01/31/emt-convicted-of-sex-crimes/#comments Thu, 31 Jan 2013 09:27:42 +0000 Metro Archive http://metro.1over0.com/newyork/uncategorized/2013/01/31/emt-convicted-of-sex-crimes/ An FDNY paramedic has been convicted of sexually assaulting five people, Brooklyn District Attorney Charles Hynes said.

According to prosecutors, Angus Pascall, 36, an FDNY EMT, was convicted yesterday for the sexual assaults. 

One case involved an 11-year-old.

Hynes recounted a string of harrowing assaults.

According to prosecutors, the first crime was in 2001, when he asked to leave a package for the neighbor of a 22-year-old woman. He then forced his way into the apartment, threatened her with a gun and raped her.

Eight years later, in 2009, he forced a 19-year-old to perform oral sex inside her apartment building’s elevator, armed with a machete. 

He also attacked another girl, 14, but fled when she struggled and screamed.

In 2010, he trapped an 11-year-old girl inside an elevator and sexually assaulted her. 

The fifth case was also in 2010, when he forced a woman, 20, into his car at gunpoint, prosecutors said, raping her in the backseat.

This victim memorized his license plate number, reporting it to the police.

Pascall will be sentenced Feb. 13. He faces up to life in prison.

The post EMT convicted of sex crimes appeared first on Metro.us.

]]>
http://www.metro.us/newyork/news/local/2013/01/31/emt-convicted-of-sex-crimes/feed/ 0