"Surgical Bankruptcy"

Auto giant, Chrysler, will file for bankruptcy after talks between creditors and government officials fizzled last night.  This "surgical bankruptcy" will radically reorganize the division of ownership:  55% to Chrysler's retiree health fund, 35% to Fiat, 8% to the United States and two percent to Canada.  

Particularly striking to some economists and historians is that the plan turns over ownership of a major U.S. industrial company to an employee-run trust, a deal that is "unprecedented on this scale," according to Harley Shaiken, a University of California at Berkeley professor and expert on unions.

The government plan also calls for ensuring that Chrysler maintains substantial U.S. manufacturing operations. It requires that at least 40 percent of company sales volumes remain manufactured domestically, or for the company's total production in this country to remain at least at 90 percent of its U.S. production last year.

North Korea

North Korea has threatened to carry out a second nuclear test unless the United National Security Council apologises for criticism of its rocket launch earlier this month.

Day 219

Photo Op Uproots 9/11 Memories

An Air Force One plane and fighter jet flew over the site of the former World Trade Center sending workers in nearby hi-rise buildings in a panic.  The fly overs were scheduled and coordinated by the Department of Defense to update photo archives of Air Force One near historic landmarks like the Statue of Liberty.  Many NYC officials, including Mayor Bloomberg, were not notified and NYPD were told not to release information to the public.  Not cool.

Day 218

Same Sex Marriage

The Iowa Supreme Court is set to approve same sex marriages.  Dozens of couples lined up at the Polk County recorder's office to apply for marriage licenses.  Way to go Iowa! 

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Day 215

Pakistan vs. Taliban

Pakistan began a new offensive against Taliban militants.  Fighting is concentrated in the Lower Dir district.  The outbreak leaves Washington on edge:

The Taliban's advance toward Islamabad has heightened concern in Washington that its ally is in danger of sliding into chaos. U.S. officials want Pakistan to take a stand rather than cede more territory to militants through policies of appeasement like the introduction of Islamic law.

Western governments that need Pakistan's support to defeat al Qaeda and succeed in stabilizing Afghanistan, dread the idea of any threat to the security of Pakistan's nuclear weapons.

Swine Flu

20 people have died as a result of the swine flu virus in Mexico City.  This new bred of flu virus is a combination of human, pig, and bird viruses.  The virus has also spread to 8 confirmed people living in California and Texas.  

Day 214

Stress Test

The Federal Reserve is administering "stress tests" to 19 major banks.  Tests are set to measure how well the banks will withstand the deepening recession.  A detailed description will be disclosed later today, but the results will not be released until May 4.

Craigslist

The "Craigslist Killer" and Boston University medical student, Philip Markoff, has sparked concerns about services provided by the popular online community forum.  CL is expected to implement strategies to prevent advertisements for erotic services.  

Day 213

United Nations

10 countires: Australia, Canada, Germany, Israel, Italy, New Zealand, the Netherlands, Poland and the United States has boycotted the UN racism conference "for fear that it would turn into a platform for anti-Semitism."  

Day 212

Abduhl Wali-i-Musi: Somali Pirate?

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Day 209

This Day in History

Oklahoma City Bombing occurred this day in 1995.  

Roxana Saberi

Iranian-American journalist, Roxana Saberi, has been sentenced to 8 years in prison by the Iranian justice system.  She is charged with espionage.  The verdict has been denounced by Secretary of State Clinton and will be formally appealed.

Day 208

Memos Reveal Torture

U.S. memos released today show torture methods approved by the Bush Administration and used by the CIA including...

plastic neck collar to repeatedly slam a prisoner into a wall, confining a suspect in a box with insects, keeping detainees naked, and standing in painful positions.  The memos also approve slapping, sleep deprivation, and waterboarding - a technique that simulates drowning.

Day 207

Harley Davidson's profit drops 37%.  The motorcycle company has been reducing production over the last year and are facing another round of layoffs.

Family Day

My family is visiting me from California.  Today we had a family day at the Museum of Science- a wondrous and magical exploratorium of exhibits and hands-on activities.  It almost made me wish I was a kid again.

Day 205

Al Franken, Senator?

The latest round in the Minnesota senate race goes to Al Franken after a three-judge panel ruled in his favor.  At press time, Franken leads by 312 votes.  His opponent, Norm Coleman, has vowed to appeal the ruling.  And so, the people of Minnesota will need to wait a little longer for their senator.  

Day 204

Houston Fire Depatment

A veteran firefighter and a rookie who had served in Iraq died battling a Houston house fire.

The Houston Fire Department identified the victims as 50-year-old Capt. James Harlow of Pasadena and 29-year-old probationary firefighter Damion Hobbs, who grew up in Alvin.

Harlow had worked for the department since August 1979. Hobbs graduated from firefighter training in March.

A news release from the department said the cause of the house fire, reported early Sunday, is under investigation.

Hobbs returned from a 14-month tour of duty in Iraq in July 2007. His sister, Janice DeShazer, said Hobbs was in the reserves with the Texas Air National Guard at Ellington Field Joint Reserve Base in Houston.

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Day 201

More Political Unrest in Thailand

Tensions rise in Thailand as protesters bombard Bangkok to challenge Prime MinisterAbhisit Vejjajiva four month old regime.  Protesters align themselves with former Prime Minster Thaksin Shinawatra, "a former policeman and Texas-educated devotee of George W. Bush."

Thaksin remains popular with Thailand's rural majority. Poor and marginalized Thais, especially in the north and northeast, were won over by his campaign of "paddy-field populism," offering health and education programs. His followers, known as the United Front for Democracy Against Dictatorship, or UDD, believe he has the economic prowess to steer Thailand out of the global economic crisis.

Sons of Iraq

A suicide bomber killed 9 people and injured 31 in the town of al-Iskandariya (40 miles south of Baghdad.  The bomber attacked when "awakening councils", also known as Sons of Iraq, were meeting to collect salaries.

Awakening councils, also known as Sons of Iraq, are primarily a Sunni movement composed of former insurgents or sympathizers who have turned against al Qaeda. The U.S. military credits them with having played a key role in bringing about the nationwide drop in violence that coincided with the "surge" in U.S. forces in Iraq. 

L'Aquila, Italy

Italy mourned as thousands, led by heads of Church and State, bade an emotional farewell on Good Friday to more than 200 people killed in the earthquake that devastated the town of L'Aquila.

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Day 199

Wal-Mart Woes

Consumer spending is down and Wal-Mart is feeling the effects.  Sales for the Easter holiday are expected to be down as well.

French Union Workers

French workers of the CGT (Confederation generale du travail) trade union lock up their bosses in the British owned Scapa Group, in southern France.

"Staff at French plants run by Sony, 3M and Caterpillar have also held managers inside factories overnight to demand better layoff terms -- a form of labour action dubbed "bossnapping" by the media."

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Day 197

Obama Approval Rating

Obama's approval rating is 66%, the highest on record.

IBM and SUN

Talks for IBM's acquisition of Sun Microsystems has faltered sending Sun's stocks southbound. 

I've always liked IBM's logo.  It reminds me of the old school dot matrix printers that would print one line at a time while emitting a violent screech.  The Sun logo is pretty smart as well- very microchip-esque.

Day 196

Suicide Bomber

Violence continues to spread in Pakistan.  A suicide bomber attacks a mosque in a Shiite mosque in Chakwal City, killing 22 people.   Another day of senseless tragedy.  

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Day 194

Shooting Rampage

41 year old Jiverly Wong opened fire in an American Civic Association in Binghamton, NY, killing 14 people before killing himself.  He was recently laid off.  Another example of why this country needs better gun control. 

Border Disputes

Thailand and Cambodia clash over disputed territory in the area surrounding Preah Vihear Temple.  The Thai ministry claim that only one soldier has been killed while a Cambodian spokesman has reported that there were four Thai soldier casualties and 10 Thai prisoners.  

Day 193

Losing momentum but still hanging on.  Wouldn't it be nice if a portion of Bill and Melinda Gates' fortune went towards struggling artists?  

Bill and Melinda Gates

The Bill and Melinda Gates Foundation announced a partnership with the Chinese Health Ministry to help eradicate tuberculosis. $33 million in funds are earmarked to fight the cause. 

Day 192

One man died today at the G20 protest in London.  

G20

Protesters rain on the streets of London during the G20 summit. Approximately 4,000 demonstrators were present.  Bankers in the area were advised not to invite clients for meetings and to dress down as to look less like "bankers".