The talk show Titan Oprah will me calling the quits after 25 years on the air. The Oprah Show was and still is the longest running daytime talk show that has ever aired. She will announce the news officially on her show, Friday November 20th. Discovery Communications CEO David Zaslav today said his company, which is partnering with Ms. Winfrey to launch the Oprah Winfrey Network on cable next year, expects her to terminate “The Oprah Winfrey Show” in 2011, when her contract expires, to focus on OWN.

We are thrilled that ‘The Oprah Winfrey Show’ will continue production through the 2010–2011 season, its 25th year on the air,” CBS Television Distribution said in a statement. “We are grateful to Ms. Winfrey, her producers and all of our affiliates who remain committed to bringing viewers this exceptional series. We would certainly welcome and hope that ‘The Oprah Winfrey Show’ would continue in syndication beyond that, but that is a decision only Ms. Winfrey will be making.”

We heard Chris’s side of the story earlier this year, but now it is Rihanna’s turn. The singer is set to speak about the February assault for the first time on Friday (November 6) in an interview with “Good Morning America”, and then later that night on “20/20.” Check out the video below.

Antoine Walker former NBA stud and 3 point specialist has encountered some financial problems of late. According, to several newspaper and Internet reports Walker after making millions in the NBA is broke. In his 12 year NBA career Walker has made more than $110 million along with money coming from endorsements. During the last several months, the once millionaire athlete has been pursued by multiple financial institutions for unpaid debts. Walker owes approximately $4 million to debt collectors.

Walker financial troubles were brought to light in July, when he was arrested for writing bad checks to a casino in Lake Tahoe, California. Walker wrote $800,000 in fraudulent checks to the casino. Walker also faces felony check fraud charges in Las Vegas. All his financial trouble cannot be blamed on his obvious gambling problem; he supported about 70 friends and family members over his NBA career. I wonder if they will help him out in his time of need. This is a crazy ending to a once prominent career. I don’t know what the futures hold for Antoine Walker, but the VILLA wishes him the best of luck with his future.

A law firm in Atlanta is reported suing rapper Ludacris after he allegedly stiffed them on legal fees. According to Courthouse News, Carlton Fields P.A. is suing the rapper and his Ludacris Foundation for unpaid legal fees and expenses of $61,820. The firm is suing for the cash, and court fees.

Mike Tyson reunited with Evander Holyfield on “The Oprah Winfrey Show” on Friday (October 16) despite biting his ear off over a decade ago. They shook hands shook several times during their interview, which Tyson said was the first time they spoke in length since bitting incident. During Tyson’s first appearance earlier in the week, he said that the initial apology following the incident was not sincere. When he saw Holyfield this time, he didn’t apologize. Instead, he praised him.

“This is a beautiful guy,” he said, holding Holyfield’s arm affectionately for several seconds. “I just want you to know it’s just been a pleasure … being acquainted with you.”

Asked by Winfrey if he was still missing part of his ear, Holyfield pointed to it and said, “Just a little bit.”

You talk about biting,” Holyfield said. “I’m the person that bit every brother in my family.”

For those that did not get a chance to see Mike Tysons appearance on The Oprah Show Monday (October 12), just to let you know; It was memorable and emotional. This show has not only given a big boost in exposure for his new documentary “Tyson,” but it is also resulting a reunion with boxing rival Evander Holyfield, who Tyson bite during their second fight in June 1997. He admitted that he’s never really spoken to Holyfield since it happened, and now Oprah is making that happen. The episode will air live on Friday (check local listings for times). For more information, visit Oprah.com.

Shyne was set to be released from prison on Tuesday (October 6), but it seem that his released has been postponed due to his immigration status. Officials are determining whether or not Shyne should be deported back to Belize, where he was born. It is unclear when the matter will be resolved. Stay posted for more details.

Rapper Shyne will be released from prison today, after spending approximately 10 years behind bars. Shyne, 30, was convicted of shooting a bystander at a New York nightclub following a dispute between Sean Combs and another person. Before his untimely incarceration, Shyne without a doubt solidified himself as one of the best rappers. Shyne will serve 2 years of probation upon his release. Rappers from all over are welcoming Shyne home with open arms. For example, Fabolous tweeted “Somebody gettin outta jail is like a Hood Holiday…Welcome Home Shyne Po… Brooklyn Love”.That’s good to see that he has people behind him that are supportive. Although, he is no longer signed to Bad Boy Records anymore, I would be on the look out for some new material from Shyne in the upcoming months. 10 years locked up behind bars, I know Shyne has some fresh material to talk about and will definitely put all these bubble gum rappers in their place.

Kyle Bush

New York Time’s best-sellers list last week consisted of 50 Cent’s latest book “The 50th Law book”, which is first in rappers history to ever make that list. This book is 50’s strategic advice on life and how to become successful. This book landed at #5 on the paper’s “Hardcover Advice” list, and in its second week the book fell three spots to #8. The book, released by HarperStudio, is out now and retails for $19.99, but, is currently on sale through Amazon.com for just over $11. I might have to get my copy.

The people that run Apple’s ever so popular software giant iTunes seems like they might be in a little trouble. Eminem’s music publishing company Eight Mile Style LLC. is claiming that iTunes put 93 of Em’s song for sale on it’s online store without authorization. Eight Mile Style LLC. is alleging copyright infringement against Apple Inc. and since a deal was not agreed upon and the case will head to court this morning.

By: Adrian Gonzalez

The economic stimulus plans looks like it is helping citizens of Pennsylvania since the beginning of summer according to an article written online for the Philadelphia Inquirer. John Barrett (49), Michael Volpe (61), and Randy Myers (32) were all unemployed before the package and are now all back to work. Even though some jobs are being created from the package, a lot of people still have questions on if the money is reaching those in need. Seeing the creation of jobs lets others know that the money has reached the street level, but is it enough? Philadelphia is set to receive $90.6 million from the stimulus package and even though many may feel like it has not reached “street” level, it has, it is just needs to be spent wisely so it is not being seen as fast as many would like it to. What are your thought? Has the stimulus package affected you or your family? Let us know.

By: Adrian Gonzalez

So by now everyone that has any type of access to entertainment knows what Kanye West did to Taylor Swift at the MTV Video Music Awards this past Sunday. Well, someone decided to make a funny website which has a picture of Kanye West with the saying “This website is pretty good, and I’m gonna let you see it, but Beyonce has one of the best websites of all time.” What you have to do is go to (http://kanyelicio.us/) and enter the URL of any website and click the “Do It” button. Once you do that the site will pop up with the picture of Kanye and the saying over it. It’s pretty funny how people are running with the concept. What’s next?

By: Adrian Gonzalez

A lot of people think that ATV’s are meant more for the country-side or areas where there are really no cars around. They are also meant to be used for extreme sports, such as during the X-Games, which is featured on ESPN. A specific neighborhood in Philadelphia has had an on-going problem with teens and young adults using them for all purposes, except what they are really meant for. Earlier this week, teens in the Kensington section of Philadelphia were blocking Hurley Street near Ontario and man driving a Mercury Sable honked the horn and yelled at them to move. When he did this, they started throwing objects at his car and chased him until he crashed into other parked cars. As the man was fleeing the scene, the group on the ATV’s and dirt bikes chased him and eventually ran him over. Residents in the area have complained about the use of these motorized vehicles because the teens using them also are seen using drugs, doing graffiti, and even drinking alcohol while using them. Hopefully the police can start a program to crackdown on these actions by the teens and stop these acts of violence.

By: Adrian Gonzalez

For those that didn’t have the privilege to see the VMA’s last night. You have to see the video below of Janet Jackson’s performance which was dedicated to her brother Michael. This performance took the whole show. Trust and believe that when you finish the video below, all you can do is clap and smile. Janet really put her heart in this performance which is very emotional to watch.

It has been nearly two years since Kanye’s mother past from complications of cosmetic surgical procedure. Well it seems that her death has not been forgotten in the state of California. This week California created a law called the “Donda West Law” which prohibit cosmetic facial surgery unless a physical exam is conducted 30 days before the procedure, and written clearance is provided.

By: Adrian Gonzalez

Ice Cube has teamed with ESPN to created a documentary about The Los Angeles Raiders titled “Straight Outta L.A”. The documentary will dig deep into the origins of the Raiders from their time as an Oakland-based team, until 1982, when owner Al Davis won a court decision allowing the team to move to Los Angeles. Ice Cube said he was attracted by the group’s familiar sliver and black uniforms, which he would later popularize as fashion trend in Hip-Hop via his pioneering rap group, N.W.A..

Michael Jackson died of cardiac arrest just over two months ago after his doctor, Conrad Murray, gave him a lethal drug cocktail at his rented Bel Air estate in June.The death was ruled a homicide last week.

Under a 2004 Massachusetts law, a special election must be held 145 to 160 days after a Senate seat becomes vacant. The winner of the election would serve the remainder of a senator’s unexpired term.

This weekend’s box office was taken over by the new sci-fi thriller “District 9″. This crazy sci-fi took in a reported $37 million. This movie is tale about Alien forced by humans to live in filth in a ghetto in South Africa.

District 9 beat out last week’s #1, “G.I. Joe: The Rise of Cobra,” which slipped to second place this weekend with $22.5 million, raising its 10-day total to $98.8 million.

Floyd Mayweather prepares to face Juan Manuel Marquez in mid-September, but he continues he gives back to the community. Today (August 14), the undefeated boxer will speak at an hour-long life skills class to youth clients at the Nevada Partnership for Homeless Youth (NPHY) Safe Place Drop-In Center. Mayweather and his team will also frequently prepare hundreds of packed lunches for distribution to homeless people living on the streets and in makeshift tents throughout Central Las Vegas.

People should not have to live this way,” Mayweather said. “We give turkeys away every year during Thanksgiving, but what about the rest of the year? We will continue to hand out food as long as there are people out there that need to eat.”

Jennifer Hudson (Singer/actress) is the proud mother of a brand new baby boy as of Monday (August 10) in New York.The 27-year-old welcomed David Daniel Otunga Jr. into the world. He is named after her fiance, David Otunga, former contestant of “I Love New York.”

According to ABC2News.com, on July 31 author Damon Lloyd Goffe filed a lawsuit in the District of Columbia Court against the talk show queen Oprah and her Harpo Inc. production company for plagiarizing his book “A Tome of Poetry ” in her internet published work “Pieces of My Soul”.

The author is seeking $1 trillion in damages, claiming Oprah sold 650 million copies of her book online at $20 a pop, so he’s owed $1.2 trillion.

Former President Bill Clinton brought two freed U.S. journalists out of North Korea Wednesday following rare talks with reclusive leader Kim Jong, who pardoned the women sentenced to hard labor for entering the country illegally.

Euna Lee and Laura Ling were heading back to the U.S. with Clinton, his spokesman Matt McKenna said, less than 24 hours after the former U.S. leader landed in the North Korean capital on a private, humanitarian trip to secure their release.

What does North Korea and Clinton have in common?

Jeffrey Ellison

The Hip Hop community has lost another great artist, Titus “Baatin” Glover of the Detroit based group Slum Village body. Baatin was found dead in his home Saturday (August 1). The circumstances of Glover’s death remain unclear. Talib Kweli along with others have begun to pay their respects via Twitter, with Talib saying

“I’m at a loss right now. Hi-Tek was set to dj for Slum Village tonight. RIP Baatin. More influential than you can imagine. Slum Village forever.”

For those that are not sure who Baatin is check out the video below.

Michael Vick may have gotten a break with the NFL commissioner this week, but money issues continue. According to the Associated Press, the NFL player’s New York-based bankruptcy lawyers are asking a judge to approve $1.5 million for their fees. The Crowell and Moring law firm originally asked for nearly $2.7 million, but they reduced their request after the U.S. trustee and one of Vick’s major creditors filed court papers saying the amount was excessive.

Eminem fans get ready for Em’s costumes auction that’s already in effect as we speak. It started Monday (July 27). In this auction you can expect to see his video and staged costumes, including an MJ outfit he wore in one of his past videos (Just Lose It). The MJ outfit includes a red sequined jacket, white glove and black hat, pants and shoes, and starts at $6,000. Those interested can check out the auction at GottaHaveRockandRoll.com, and will run through August 5.

According to ESPN, NFL commissioner Roger Goodell has reportedly decided on a conditional reinstatement that would allow Vick to attend training camp if he signs with a team. However, he could be suspended for the first four games of the 2009 season. Goodell met with Vick, his agent and two other members of his camp, but nothing was officially confirmed.

If Vick isn’t signed by an NFL team, ESPN reporter Chris Mortensen says he’ll have an option to sign with the upstart United Football League, set to begin play in October and finish its inaugural season on Thanksgiving weekend. Under UFL policy, he would be free to sign with the NFL once the UFL season ends.

This past Saturday (July 25) VILLA had a special guest appearance. Cuban Link showed love to VILLA’s Reading location this past Friday.

Wendy Williams also known as the “Gossip Queen” has decided to quits her longtime radio career for television. On Thursday (July 23) Wendy stated that she would be leaving her daily radio show on July 31 to focus on “The Wendy Williams Show,” full-time.

“I want to tell all of my fans that after July 31, I will no longer be doing a show with WBLS,” Williams said in a statement. “I really was blessed to have a broadcast home in New York on radio for the past seven years and I want to thank everyone who supported me. I have one of the best jobs in the world, making a difference in the lives of my fans made all the difference to me and I look forward to doing the same thing in my new role as a TV host. My hope is that you will do your best to find me on your remote so I can continue to entertain and inform you each and every day.”

Wendy Williams radio show has consistently rated as one of the highest rated programs on WBLS, despite its controversial tone.

Mr.Terius Youngdell Nash also known as “The Dream” signed Christina Milian back in February to his Radio Killa Records, and less than six months later, the two musicians are coupled up and engaged … officially. Wow That was quick!

These photos (spotted on Rap-Up.com) show the future Mrs. Nash rocking that huge rock on her finger with a big smile on her face.

“Terry Crews is the perfect person to replace me as Nick,” Ice Cube said. “His physical comedy is undeniable.”

President Obama is looking into allegations that the Bush administration resisted efforts to investigate a CIA-backed Afghan warlord over the killings of hundreds of Taliban prisoners in 2001. Check out the video below.

Charles Barkley, made a donation to the victims of a wildfire at Lake Tahoe two years ago. He sent them a check for $90,000 this week. According to USA Today, South Tahoe’s Community Disaster Resource Center was shocked, especially since Barkley dropped a cool $100,000 just one year before, and officially proclaimed a “Charles Barkley Day.”

The fire cost the city $11.7 million to fight, said reports. Barkley toured the disaster area shortly after the fire and hosted a dinner for 100 firefighters.

Lauren London confirmed rumors of her pregnancy over the 4th of July weekend, when she popped up at Diddy’s All-White Party in Beverly Hills showing off her belly. I guest you would like to know who is the baby’s father? Rumors are saying that Lil Wayne is the father, but nothing has been confirmed.

Michael Jackson’s memorial details announced Friday (July 3), putting a rest of speculation of whether his body would be sent to Neverland Ranch for a public memorial. Jackson reps and AEG Live, who are hosting the event, stated that a public memorial for Michael would take place at 10 a.m. on Tuesday (July 7) at Los Angeles’ Staples Center.

To be eligible for tickets, fans had to log on to Staples Center.com and register between last Friday and 6 p.m. last Saturday. On Sunday, 8,750 names were drawn randomly. The Ticketmaster will be distributing tickets and wristbands to those chosen today.

When tickets for the last set of Michael Jackson shows went on sale in London, they sold out quickly. 750,000 people bought tickets for the 50-night “This is It” concert. According to reports, the promoters, AEG Live, behind the “This Is It” Michael concerts recorded enough material of Jackson’s rehearsals that they will be able to release at least one live CD/DVD.

On Monday, June 15, 2009, VILLA along with sponsors Nike and 100.3 The Beat, began a summer grassroots initiative to refresh the City of Brotherly Love by means of a water ice truck. Yes….you read it right! VILLA has a water ice truck all summer long and will be visiting neighborhoods around its stores and hitting up other key events, selling water ice for ONLY $.20 cents. This initiative is to celebrate VILLA’s 20th Anniversary. During the week, the truck will be at The Chosen League at Cherashore Playground (10th & Onley) from 7pm to 9pm. This is a summer basketball league sponsored by Nike and VILLA. This will be an exciting summer for VILLA, so keep your eyes open for VILLA’s 20th Anniversary Water Ice Truck coming to a neighborhood near you!

Music icon Michael Jackson, whose fame spanned from his childhood with the legendary Jackson 5 to a superstar solo career that earned him the nickname ‘King of Pop,’ died Thursday afternoon at a Los Angeles hospital at the age of 50. Brother Jermaine confirmed Jackson’s death from suspected cardiac arrest at a press conference Thursday evening. “It is believed he suffered cardiac arrest in his home. However, the cause of his death is unknown until results of the autopsy are known,” Jermaine said.

This is truly is a sad day. Michael Jackson was and still is a true inspiration to to us all. To his signature moves and hart felt music. It hurts our harts deep to hear that one of our long term icons that we grew up mimicking as children even into adulthood has left us. We at the VILLA want to send our prayers to the Jackson family and fans. Yet Michael Jackson may not be present on earth, his music will still live on.

Knowing the ending of life on earth itself has made scientist come up with countless theories. At the turn of the 21st century, conspiracy theorists claimed that the Y2K bug was only a small part of the end. The new century would bring about total destruction, and no one would survive. Others believe that Earth is slated for another ice age, which will kill off all living things.

­In 2006, Mel Gibson produced a movie about the Mayan culture. “Apocalypto”, which follows one man’s journey from slavery back to his family. In the movie, a young woman prophesies that a man will bring an end to the Mayans and wipe out their civilization. In the real world, some theorists don’t believe a man will be the end of the Mayans, instead a spiritual event will be the cause.The Mayan calendar even gives us a date for this theoretical event: Dec. 21, 2012.

What’s your thoughts on this theory?

The Recording Industry Association of America (RIAA) continues his quest against illegal file-sharing, and won a victory last week when it was awarded a $1.92 million judgement against a 32-year-old woman from Minnesota.

According to reports, Jammie Thomas-Rasset was found guilty in an earlier case in which she was ordered to pay $222,000 for the same songs. However, that case was declared a mistrial, and she opted for a new trial instead of settling with the RIAA like 30,000+ others before her to get hit with suits from the organization.

That decision turned out to be the wrong one, when a federal jury on Thursday (June 18) found Thomas-Rasset liable for file-sharing, fining her $1.92 million for allegedly downloading 24 songs.

The missile, believed to be a Taepodong-2 with a range of up to 4,000 miles, would be launched from North Korea’s Dongchang-ni site on the northwestern coast, said the Yomiuri daily, Japan’s top-selling newspaper.The missile launch could come between July 4 and 8, given the North’s propensity to launch on U.S. holidays.

While the newspaper speculated the Taepodong-2 could fly over Japan and toward Hawaii, it said the missile would not be able to hit Hawaii’s main islands, which are about 4,500 miles from the Korean peninsula.

South Korea’s Lee said Wednesday in Washington that was essential for China and Russia to “actively cooperate” in getting the North to give up its nuclear program, suggesting the North’s bombs program may trigger a regional arms race.

Wednesday (June 17) the same day the iPhone 3.0 software update goes live, Blackberry is announcing the new Blackberry Tour 9630. BlackBerry users!!! We now have another model to be envious over. Research In Motion (RIM) has announced a new BlackBerry model called the BlackBerry Tour. They call it a “world phone,” meaning it can easily access voice and data services on networks outside the user’s home country, which has proven popular with business users in the past. The smartphone’s removable battery will provide up to 5 hours of talk time and 14 days of standby time. Using BlackBerry Media Sync the phone will be able to synch music from iTunes and Windows Media Player. The new version will be available “later this summer” from Verizon Wireless and Sprint in the U.S., reports Business Week.

President Barack Obama said Friday he looked forward to signing a bill that would give the Food and Drug Administration power to regulate the manufacturing, marketing and sale of tobacco.

The legislation would give the FDA power to ban candy and fruit-flavored cigarettes, widely considered appealing to first-time smokers, including youths. It would prohibit tobacco companies from using terms such as “low tar,” “light” or “mild,” require larger warning labels on packages, and restrict advertising of tobacco products. It also would require tobacco companies to reduce levels of nicotine in cigarettes.

Treasury Secretary Timothy Geithner states that the Obama administration doesn’t want to place caps on executives’ pay even though it believes excessive compensation led to risktaking that contributed to the financial crisis. Geithner also stated that the shareholder measures, as well as legislation to keep corporate compensation committees independent from boards of directors, will reinforce pay guidelines that the administration released today.

The Obama administration will give a new Treasury official power to reject executive pay packages at firms that receive U.S. government assistance and wants legislation that would seek to tame compensation across the corporate world.

North Korea convicted two American journalists and sentenced them Monday to 12 years of hard labor for crossing into its territory, intensifying the reclusive nation’s confrontation with the United States. The Obama administration said it would pursue “all possible channels” to win the release of Laura Ling and Euna Lee, reporters for former Vice President Al Gore’s San Francisco-based Current TV media venture. The two were reporting about the trafficking of North Korean women at the time of their arrest, and it’s unclear if they strayed into the North or were grabbed by aggressive border guards who crossed into China. A cameraman and their local guide escaped.

Jose Carrasquillo, 26, was taken into custody on Tuesday afternoon in the vicinity of Front and Clearfield Streets. Carrasquillo was placed under arrest on an outstanding warrant for a contempt of court charge from a previous case. Police say they are investigating Carrasquillo’s possible connections to at least 2 more sexual assault cases. One involving a woman, another involving a 15-year-old girl. Officers say that the victims in those crimes contacted police after Carrasquillo’s photo was released as part of the investigation of the rape of an 11-year-old girl.

The last days for GM are in effect. General Motors filed for level Chapter 11 bankruptcy Protection today. The company said it has $172.81 billion in debt and $82.29 billion in assets. A union spokesman at the GM plant in Spring Hill confirms the 2,500 employees there have been told the plant will be idled. As it reorganizes, the fallen icon of American industrial might will rely on $30 billion of additional financial assistance from the Treasury Department and $9.5 billion from Canada. That’s on top of about $20 billion in taxpayer money GM already has received in the form of low-interest loans. GM’s bankruptcy filing is the fourth-largest in U.S. history and the largest for an industrial company.

On Tuesday May 26, 2009, President Obama made history by nominating Sonia Sotomayor for the Associate Justice of The Supreme Court position. This made Ms. Sotomayor the first Hispanic, and the third woman to serve on the high court. She is from the Bronx, NY, and received her A.B. from Princeton University, and graduated from Yale’s law school in 1979. So we at VILLA want to congradulate Sonia Sotomayor on her success.

Based on the book “Push” by Sapphire comes the movie “Precious”. The movie comes as a painful reminder of how hard life can be. A young black girl from Harlem dealing with teen pregnancy, economic struggles and an abusive mother overcomes everything. She is accepted into an alternative school where she meets a teacher that sympathizes with her story and helps her find a new path in life. Be on the lookout for this inspirational movie November 6,2009.

Seth Williams won the five candidate race for the democratic candidate for the District Attorney office. Williams took 41 percent of the popular vote and will race against republican Michael Untermeyer in the November election to decide who will be Philadelphia’s next D.A. He is the favorite to win against the uncontested GOP candidate, because 80% of Philadelphia’s voters are democrats. If elected, Seth Williams will be Philly’s first black D.A.

Gasoline prices are rising to the roof, as we approach the Holiday. AAA stated that in the five-county Philadelphia area, the average price of unleaded regular went up from $2.24 to $2.35 per gallon in the last week. I’m not sure where these guys were pumping, but I’m sure it wasn’t in West Philadelphia. I paid $2.40 per gallon this weekend. I just hope that we don’t make steps backward in to last summers gas prices.

Yesterday was Temple University’s 122nd Commencement! Temple University graduated 7,423 students on May 14, 2009. The Class of 2009 represented 82 countries around the world and 45 states, including Washington D.C. and Puerto Rico. There were 112 student athletes which graduated and the School of Liberal Arts graduated the most students with 1,390. It was a very special day for family and friends and especially the graduates. Good luck to those who graduated an their futures in begining their professional careers.

By: Adrian Gonzalez

State Attorney General Tom Corbett had a press conference discussing a series issue that has developed at PennDot. Apparently, since 2002, nearly 50 people have used fake IDs to get fraudulent driver’s licenses. Even worse is that several of these individuals are ex-cons. Robert Banks of North Philadelphia was caught and charged with 45 counts of obtaining fraudulent licenses between 2001 and 2003 and selling them for up to $1,200. Corbett blames PennDot for putting customer service in front of security, that could have prevented these scams. This issue is important for PennDot because it is basically allowing criminals and others basically get away with privileges that can help them get away with even more serious acts.

By: Adrian Gonzalez

Yesterday was the 19th Annual Race For Cure. The race is put on to raise awareness for breast cancer research. Being on Mother’s Day, there were about 100,000 people that took part in the race and all the other activities that took place. There was also a big group of breast cancer survivors that were honored on Mother’s Day, at the race. It was a big success and hopefully, the Susan G. Komen Foundation continues to receive the much needed support to find a cure one day.

By: Adrian Gonzalez

The College Opportunity Resources for Education (CORE) scholarship program founded b Congress man Chaka Fattah will continue to be in existence for another year at least. The CORE Philly program which serves on going college students from Philadelphia High Schools was expected to end this Spring due to the inability to generate funds after being affected by the City’s budget cuts but yesterday Rep. Chaka Fattah announced that he secured a total of $1.45 million from two federal grants which will be able to continue the program for the next academic year. Both grants are believed to be generated from President Barack Obama economic stimulus spending plan. The Congressman also announced a few changes to the program among which Lawyer Sonte Reavis will now chair the program and also high school graduates going to state related college institutions will now be eligible for up to $2000 in funds instead of the previous $3000 both ongoing high school public and private universities were eligible for. Community college bound high school graduates are eligible for up to $500. Over 13,000 students have reportedly benefitted from the Core Philly Scholarship program since established in 2003 and the program has provided over $24 million in scholarship money to students for their educational needs.

By: Piayon Lassanah

President Obama is expected to name a replacement for the soon to be retired U.S. Supreme Court Justice David Souter within the next two weeks. Obama will be aided in the selection by a small group of experienced political advisors who will be gathering recommendations from members of Congress and will narrow the list down to the best possible replacement for Justice Souter. It is believed that Obama’s choice of a small group of advisors is to avoid a leak of information about the selection of a potential candidate, a situation which occurred during his cabinet position nominations soon after being elected to office as the media were already aware of most of his cabinet nominations before they were announced publicly. Among the list of possible candidates include Judge Sonia Sotomayor in the 2nd circuit of the appeals court who could be the first Latino in the Supreme Court and the third woman to serve in the court. Rumors are circulating that the president could name a female to the Supreme Court bench. Among other possible candidates includes Elena Keagan, the president solicitor and a former dean at Harvard Law School, Jennifer Granholm a Harvard Law School Graduate and current Governor of Michigan and Judge Diane Woods of the 7th Circuit in the U. S. Court of Appeals. It is believed that President Obama will fill at least two more vacancies in The Supreme Court before the end of his term.

Meanwhile outgoing Justice David Souter reflected upon his days of service in the Supreme Court yesterday in Philadelphia at a conference of judges from the tri-state area where he received applause from the crowd before and after his speech. He indicated the leak of his retirement news was unplanned and also urged legal professionals to take satisfaction in “something worth doing” and “try to do it well”. Last Friday, Justice Souter announced his retirement which is set to begin when the Supreme Court finishes in the summer.

By: Piayon Lassanah

The 30th Annual Broad Street run was held yesterday. A record 22,913 finished the race despite the rain. The race started at Central High School and ended at the Navy Yard (10 miles). Kenya’s Linus Maiyo and Jane Murage were the winners of the men’s and women’s division in the race. For their hard hustle, manager Lisa Buster treated both to a Philly cheesesteak and they both won a $1,500 check. Rain or shine, the race still was going to happen and it was a great turn out. Some of the members from VILLA participated as well in the big race. Congrats to everyone that was able to start and finish and those who just participated.

Most NFL fans who are Comcast subscribers have been bothered by news that Comcast would no longer carry the NFL Network today May 1. Those concerns might have been eased as Comcast and the National Football League, which owns the network, began renegotiating a new deal as the previous contract ended yesterday and talks had reached a stalemate. The disagreement was over whether Comcast would carry the NFL Network Channel on its “general interest” channel package as the league would prefer but Comcast which has the network Channel in its sports package claims the network is too expensive to transmit and therefore charges $7 extra for its sports package in which the NFL Network is included.

The National Football League and Comcast are both believed to be engaged in promising discussions to reach a compromise as the NFL Network Channel continues to be available on Comcast. NFL Network is a true football fan favorite and it carries many programs which are not available on any other major sports network television. The NFL Network broadcasts the NFL Combine which allows fans to follow each aspiring NFL player going through each workout at the combine in Indianapolis and also broadcasts NFL from previous seasons which is a rarity among other major sports network television like ESPN or Comcast’s own sports channel. It’s good to see both sides come together to work out the differences after the prolonged disagreement and court case.

By: Piayon Lassanah

Senator Arlen Specter who is a longstanding Republican senator from Pennsylvania announced his switch onto the Democratic Party yesterday in a move which came as a surprise to many since the senator was a prominent Republican leader and famous for his years of service in congress. Senator Specter cited his increasing “odds with the Republican Philosophy” as a reason for the switch and admitted some of his former Republican politicians might be disappointed in the announcement but principles were of most importance in his decision making. Senator Specter’s timing of the announcement ironically comes a year before he runs for re-election in the Democratic majority state of Pennsylvania and raises several questions among political pundits who believe he would have faced a tough re-election campaign. Luckily enough, the Senator has already secured the backing of two most prominent Democrats, Majority Leader Harry Reid and President Barack Obama in his bid for re-election on the Democrat ticket.

The announcement received mixed reviews across both parties as most Democrats especially senators welcomed Senator Specter with happiness but others remained skeptical and questioned the senator’s motives and voting patterns on key issues claiming that it would be important also for him to act as a “Democrat.” Among the Republicans, most were unhappy with the news since it meant a loss of a seat in the Senate which would give the Democrats more advantage as they will now have 59 votes, just one shy of the 60 required to stop a filibuster or delay in legislation which one side is opposed and the 60th vote can come from the still contested Minnesota race which Democrat Al Franken is leading. Other Republican politicians were somewhat excited according to the Republican National Committee Chairman Micheal Steele because Senator Specter was out of line with the rest of the party due to his “left wing voting record” but the chairman believes, however, that the senator switched sides “to further his personal political interests because he knew that he was going to lose a Republican primary due to his left-wing voting record”. The appeal of this announcement will only increase as the opinions of different politicians, political analysts and the general public continues especially as the campaign for re-election kicks off.

By: Piayon Lassanah

According to the Center For Disease Control and Prevention, “Swine Influenza (swine flu) is a respiratory disease of pigs caused by type A influenza that regularly causes outbreaks of influenza among pigs. Swine flu viruses do not normally infect humans, however, human infections with swine flu do occur, and cases of human-to-human spread of swine flu viruses has been documented.” The reason being is that this past weekend, the epidemic that started in Mexico City, has now reached the U.S. In Mexico, 86 are already dead and there are 1,384 suspected cases. In the U.S., there are at least 20 confirmed cases of the outbreak in the states of New York, Texas, California, Kansas, and Ohio. Around the world; Canada, New Zealand, Spain, France, and Israel are reported to have cases. This flu is serious because it is deadly. There is a complete shutdown in Mexico City and anyone with plans to travel are being allowed to change travel plans with U.S. airlines. Reporters are saying that this has potential to get worse. What are your thoughts?

By: Adrian Gonzalez

Temple University yesterday announced the approval of its tuition increase of about 2.9% for the 2009-2010 fiscal year, about two months earlier than previous announcements. Temple University, who’s main campus is in Philadelphia, is supported by the State of Pennsylvania and serves about 36,000 students. The 2.9% increase will result in an increase from $10,858 dollars to $11,174 dollars for in-state students and a $19,878 to $20,454 increase for out-of-state students as approved by the school Board of Trustees. School officials explained that the early notice was to enable parents to adequately prepare and plan for whichever means of financing their child/children’s education especially in the current economic downturn.

The school also announced its commitment to supporting its students with its decision to increase the financial aid budget by $21 million over the next three years to assist students paying for college. The financial aid budget increase will begin with $7 million within the first year and the remainder to be will be determined as the school spent a total of $65 million on financial aid last year.

By: Piayon Lassanah

Today is April 22, 2009! This is also known as Earth Day 2009. Schools and organizations worldwide usually take some time out of their day to focus on doing something positive for their community and even more importantly, the Earth. An increasingly important issue that the world is facing is the huge amounts of garbage that is pilling up in our oceans. The Philadelphia Metro newspaper has a sub-title to one article from today’s paper that says “Our oceans are covered in patches of garbage as big as a continent.” So on this Earth Day 2009, do something for the Earth. Whether if it is picking something up and tossing it in the trash or going to a local park and help cleaning it up, every little move counts.

By: Adrian Gonzalez

Michael Hayden the former CIA head under President Bush Administration criticized President Obama over the release of interrogation tactics of terror suspect detainees during former President Bush administration. By releasing documents of the interrogation methods which detailed acts such as slamming the suspects against walls, keeping them awake for long hours, slapping them and using waterboard or simulated drowning tactics, Hayden claimed the president compromised national security. President Obama ordered the shut down of all CIA secret prisons which were being used to torture suspects and his administration released nine memos from former president Bush Administration last month and recently declared that the CIA officers who used such tactics will not be persecuted for the painful interrogation of the suspects.

The President stated that those tactics “undermined our moral authority and so not make us safer” and along with most human rights officials believes that they are a form of torture and in violation of the detainee’s rights. Hayden in contrast believed that the interrogation tactics used is not torture and was actually valuable in getting suspected terrorist to reveal information which made the country safer. The President also asserted that most of the information released in the memos was already public and withholding the memos will only deny the public facts already in public domain. The debate over “harsh” interrogation techniques will continue as there is an ongoing American Civil Liberties Union lawsuit against the government which aims to examine the treatment of prisoners through the use of the Freedom of Information Act.

By: Piayon Lassanah

In the next couple days Philadelphia Mayor, Michael Nutter, will sign a law that will ban drivers, skateboarders, and bicyclers from using handheld devices (most importantly cell phones) while commuting. This has been an ongoing problem in the city that has led to dangerous accidents and even deaths. A lot of people use their cell phones will driving which does have an effect on how one drives and its surroundings. Many will be opposed to this band but it is what the city needs to do in order to crack down on this serious issue. When signed, according to Philly.com, the law will put fines to first-time offenders of $150; a second offense draws a $300 fine. Be careful out there!

By: Adrian Gonzalez

Somalia pirates struck once again, this time attacking the Unite States owned Cargo Liberty Sun, which was en-route to Mombasa, Kenya to deliver American food aid to the continent. Luckily this time the pirates were unsuccessful in their attack as they were unable to get onto the cargo ship after firing rounds of rocket-propelled grenades and other automatic weapons at the ship. The Liberty sun was later rescued by United States Navy in the area and is currently being escorted by American Battleship the U.S.S Bainbridge which also partook in the successful rescue of Captain Phillips on Sunday after he was held hostage for several days by another group of pirates last Wednesday. Representatives from the company which owns the Liberty Sun vessel said the vessel had delivered food aid last week to the Sudanese port and was heading to Kenya when the attacks occurred.

The Attack comes in wake of series of other attacks recently as early Tuesday and Monday and the pirates are believed to be in retaliation for what happened on Sunday when Navy Seals shot and killed three of their own after they held an American cargo captain Richard Phillips hostage. On Monday pirates attacked and captured two Egyptian ships carrying between 18- 24 passengers according to the Egyptian government and early Tuesday Somalia pirates captured a 35,000-ton Greek-owned bulk carrier the MV Irene, luckily the crew were unharmed but were warned to stay away from the area. The Pirates also captured a Lebanese owned vessel the MV Sea Horse. U.S Combined Task Force 151 and NATO Operation Allied Protector are believed to be patrolling the area for safety.

By: Piayon Lassanah

After being held hostage for four days by Somalia Pirates of the coast of East Africa in the Indian Ocean, Captain Phillips was successfully rescued by U.S Navy Seals yesterday. Captain Richard Phillips and his 19-member crew on the Maersk Alabama cargo were attacked by four pirates on Wednesday while transporting goods to Somalia and in fear of the safety of his crew members Captain Phillips offered himself to be taken as hostage by the pirates. The Pirates then took the Captain in a smaller covered lifeboat and held him as ransom. The Pirates then began negotiations with the Navy and Federal Bureau Investigation officials from the United States and threatened to kill the captain if their demands weren’t met.

Negotiations began between the Pirates, Somalia Elders and FBI officials but reached a stalemate and at one point Captain Phillips even jumped into the ocean in an attempt to escape but was later recaptured by the pirates. Later on the weekend after the pirates apparently began running out of fuel, water, and food supplies they agreed for those items to be transported to them and for one of them to be given medical attention after wounding himself being injuring in the attack on the Captain’s boat at which point Navy Seals gained the leverage sought and moved in on the lifeboat. Later when Navy Seals personnel saw an AK-47 pointed at the Captain’s from through a small window of the lifeboat and feared his life was in danger, Seal snipers from the nearby Navy warship the Bainbridge then fired simultaneously at the pirate with the AK-47 pointed at the captain’s back and two other pirates who had their head out of the rear hatch in the lifeboat. All three pirates died and amazingly the Captain was rescued unharmed. The final pirate who was seeking medical treatment was captured and could face criminal prosecution. Captain Phillips is safely in the hands of navy officials and is expected back in the United States soon.

By: Piayon Lassanah

It was months back when Temple University Health System decided that it would make Northeastern Hospital an outpatient facility and stop running as an impatient facility. This decision was made due to a $6.6 million deficit in fiscal year 2008, and a projected $15 million deficit this fiscal year. The services mentioned Northeastern Hospital would be offering include prenatal care, lab work and radiology services. This could possibly eliminate 800 jobs. Temple’s health system has announced a 30 day reprieve where officials will further discuss the plans to convert Northeastern into the outpatient facility and open July 1. Whatever is finally decided on will make a big impact on the employees at Northeastern and the surrounding Port Richmond community.

By: Adrian Gonzalez

Drexel University President Constantine Papadakis died at the University of Pennsylvania Hospital after a long battle with cancer and pneumonia. “Taki” as he was called by love ones was in his 13th year as Drexel’s president and died with his wife and daughter by his bedside. The University plans on having a memorial in early May on the school West Philadelphia campus and has a photo gallery of the life and times of Papadakis on the school’s website that dates back to his childhood days.
Papadakis who is of Greek descent began as Drexel’s President in 1995 after serving as the Colorado State University chairman of Engineering Department. He is acknowledged as the transformer of the university which increased admissions, added a new law and medical school, experienced significant improvements in the campus setting and lifestyle and was currently considering a West Coast campus expansion in California under his tenure. Among the mourners include Drexel’s 20,700 student body, 7,300 staff members, Mayor Michael Nutter, school trustees and alumni’s, ex mayor John Street, presidents of other universities and many other friends and families.

By: Piayon Lassanah

This past Saturday (April 4, 2009) was the city-wide clean-up day in the city of Philadelphia. Many organizations and businesses came out to various parks, playgrounds, and neighborhoods to help make the city look better. Mayor Nutter even came out to distribute the blue recycling bins to homes in different ares of the city. It was just a positive day where many came together as one for a common goal, which was helping our community. VILLA was present a few clean-ups including one at Clemente Playground on 18th & Wallace.

By: Adrian Gonzalez

AT&T landline employees union will continue work today without a new contract despite several threats of an impending strike if the workers proposals are not met as contract issues are still being worked out in hope that an agreement will be reached soon during the talks in Austin, Texas. Five of AT&T original six contracts expired Saturday night and workers have complained that AT&T wants to shift healthcare cost to employees and retirees despite earning about $12.9 billion in profits last year alone. Employees claim the company wants to increase premiums and co-pays while denying coverage to retirees. AT&T representatives claim the company currently pays about $5.5 million to help subsidize healthcare cost and would need to reduce the amount to remain competitive but union representatives are claiming the increase in premiums could be as high as $7000 for some employees which could place a financial burden on those employees.

Along with health care, another issue of contention is pension plans and union representatives are claiming that the company wants to alter the pension plans of current employees and eliminate the plan of new employees and that current wage offerings will be taking a step backwards for employees. It is interesting to watch the story unravel and hopefully both sides can work a compromise where both sides will be comfortable.

By: Piayon Lassanah

Reports reveal that Goggle is currently in talks to take over the social networking site Twitter for about $1 billion. The social networking site Twitter has gained popularity recently and is being used by many athletes, musicians and other famous individuals to keep fans updated with certain events taking place in their lifestyles. Twitter rise to popularity has taken some spotlight away from the number one social networking site Facebook which ironically attempted to purchase Twitter a few months ago for half a billion dollars. Twitter holds a major advantage in the search engine game over the popularly used goggle search engine and there were talks about collaborating both sites as most believe Twitters ability to provide up-to-date real time information doing searches poses a threat to Goggle’s search engine but Twitter is somewhat inferior to Goggle in terms of providing search information about stock prices, movie times, or a Wikipedia page which is why a merger will makes sense.

Twitter’s owners Evan Williams and Biz Stone had previously sold Blogger to Goggle five years ago and if the deal actually goes through Twitter will become a subsidiary of Goggle which poses a threat to other internet Giants like Yahoo and Microsoft.

By: Piayon Lassanah

A computer worm Conficker.c, has created fear among internet users as news began spreading of a possible global attack on computers similar to the global fear of the of the Millennium bug? Conficker as popularly known among internet experts is believed to have already infected between 5-10 million computers currently causing several problems, but today supposedly a master computer which controls the worm will take over the infected laptops causing harm. Many individuals including myself are hoping this is just another April fool’s joke and that the story will be long gone in no time but others believe that the worm has the ability to shut down websites, delete files, collect passwords, bank account or other personal information from their computer and even convince some web users to purchase fake products and software from online.

Conficker is believed to trap itself in one’s computer and prevent windows from downloading software or performing automatic updates to help eliminate the problem, so users who haven’t had windows update preferably in March of this year might be at risk. Microsoft has also issue a $250,000 reward for information leading to the arrest of the creator of the worm. The worm can however be eliminated by downloading one of the following removal programs online at http://download.cnet.com/1770-20_4-0.html?query=conficker&searchtype=downloads&tag=mncol;txt .

By: Piayon Lassanah

Mayor Michael Nutter and Governor Ed Rendell yesterday named three new appointees to the Philadelphia School Reform Commission. News of the appointment came at the High School of the future in West Philadelphia where it was announced that Robert L. Archie Jr. of Duane Morris L. L. P, Johnny Irizarry director of the Center for Hispanic Excellence at University of Pennsylvania and Joseph Dworetzsky of Hangley Aronchick Segal & Pudlin were Nominated to the School Reform Commission. Both Mr. Archie Jr. and Mr. Irizarry were nominated by Mayor Nutter to four year terms and will be sworn in on April 8th at the next reform commission meeting, while Mr. Dworetzky was nominated to a five year term by Governor Rendell and will be sworn in after state approval. Rendell as Governor is responsible for appointing the Chairperson of the commission and named Robert L. Archie Jr. as chairman.

Also among the appointees include Heidi Ramirez who was reappointed to a five year term after joining the commission last year to replace the resigned James Navels and is currently the director of the Urban Education Collaborative at Temple University. Governor Rendell also nominated the Former chairwoman of the commission Sandra Dungee to the State Board of Education. The School Reform Commission was established in 2001 after the state takeover of the district which serves about 167,000 students and has made strides in academic performance as students scoring proficient doubled from 24 to 45 percent in reading and from 20 to 49 percent in math.

By: Piayon Lassanah

There has been a lot of recent controversy on the Deferred Retirement Option Plan (DROP), in city hall. Mayor Nutter is arguing that some council members are allowed to opt for the retirement plan, receive their lump sums, and still return to serve in city council. In fact, a member could retire for one day, collect their money, and then comeback to serve in city hall. Nutter is also arguing that this program is not for elected officials. Thirteen elected officials have already collected or will take a total of $4.6 million through the plan, home by 2012. This includes $2.1 million from council members: Verna($571,679), Tasco ($467,566), Frank DiCicco($392,194), Jack Kelly($299,163), Donna Reed Miller($190,099) and Frank Rizzo($189,873). This is just sad that these supposed council members who are working to help the issues with finances in the city are there and taking all that money and still being able to work to get more money. Hopefully, justice is made.

By: Adrian Gonzalez

Teenagers who were sentenced by a corrupt judge received good news as they were cleared of their convictions by the Pennsylvania Supreme Court. After investigations, the state Supreme Court ruled, judge Mark Ciavarella failed to ensure that the teenagers appearing before him were properly represented hereby violating their constitutional rights. Under the law of Pennsylvania a person under 17 may not waive their right to a lawyer unless the decision is “knowingly, intelligently, and voluntarily”. The teenagers records were expunged because of their poor or lack of proper representation according to the state Supreme Court.

Another significant issue is that judge Ciavarella of Luzerne County Pennsylvania was convicted last month after pleading guilty to agreeing to send children to two private youth detention centers in the state for financial gain. Judge Ciavarella and an accomplice senior juvenile judge Michael Conahan pleaded guilty and admitted receiving about $2.6 million from the builder and co-owner of the private detention center and were in agreement to keep a steady flow of children to these detention centers. Both judges will serve 87 months in prison as part of their plea agreement and will lose both their seats as judges and their bar license. The harsh nature and severity of Ciaverella rulings included the conviction of a 15 year old to a wilderness camp for mocking an assistant principal on Myspace, placed a 13 year old in boot camp for two weekends for trespassing a vacant building, and also sentenced another 17 year old to detention and five months of boot camp for helping a friend steal Dvds at Wal-Mart.

By: Piayon Lassanah

Robert Tracey Jr., a former firefighter was arrested and charged in connection with the arson attacks which created havoc for the residents of Coatesville in earlier in the year. Robert Tracey Jr. was awarded the Officer of Year title in 2004 and had just received a promotion in Coatesville West End Fire Company but was arrested yesterday on his 37th birthday. Tracey Jr is charged with starting the fires which occurred on the 100 block of Hope Avenue just before midnight and the other on the 600 block of Madison Street, which is only blocks away from residence and his bail is currently set at $2 million.

Tracey Jr. who is married with five children, was recently hired by the City fire department on a part-time basis only a month ago and both houses in which he is being accused of setting ablaze were being occupied by residents but luckily no one was harm due to the quick response of those occupants.

By: Piayon Lassanah

A smaller passenger engine plane crashed en route to an airport in Butte, Montana killing 14-17 people. The plane was carrying some young children between the ages of 6-10 years on a ski vacation to Bozeman Montana. The aircraft which was a single engine turboprop left Orville, California but crashed at a cemetery in Butte about 500 feet from the airport while attempting to land. Although the flight was scheduled to land in Bozeman, it’s apparent that the pilot may have diverted from the original route for unknown reasons and officials think the plane might have had some mechanical problems which required the pilot to attempt an emergency landing. According to officials also the pilot did not issue an emergency landing signal and since the plane is not a commercial flight it does not have a black box to determine what went wrong. Witnesses say the plane took a nose-dive into the ground and think the pilot might have lost control of the flight.

By: Piayon Lassanah

The Treasury Department is expected to launch a new Auto Supplier Support Program which is expected to provide financing of up to $5 billion to the auto industry which is expected to help revive the automotive industry in its current downturn. The funds which will be obtained from the Troubled Asset Release Program set up earlier by lawmakers. The Auto Supplier Support Program according to officials in the treasury department will help give “suppliers the confidence they need to continue shipping parts, pay their employees and continue their operations. The program will guarantee suppliers that funds not received from shipping transactions with car companies will be government-protected and after a payment of two percentage points on each shipment wanted guaranteed by the program. The program however has a requirement that doesn’t include foreign auto makers who operate in the United States.

General motors and Chrysler have both agreed to participate in the program as suppliers had initially requested about $18.5 million to assist their struggling sector which is under pressure due to all the layoffs by auto manufacturing companies.

By: Piayon Lassanah

Former Senator Vincent Fumo was found guilty on all 137 counts of corruption relating to conspiracy, fraud, tax offenses, and the obstruction of justice. The jury consisting of ten women and two men also found Fumo’s codefendant and close friend Ruth Arnao guilty on the 45 counts charged with. Federal prosecutors in the case against the ex-senator are still seeking a prison term more than 10 years and will also demand that the senator pay back about $4 million dollars which they believed he took from the state, Senate, Philadelphia Museum and a South Philadelphia community improvement organization. The presiding Judge Ronald L. Buckwalter set bail at $2 million and refused to grant the prosecutor’s request that the ex-senator be locked up immediately fearing the risk that he might escape and never report to serve the his sentence.

As bail collateral ex-senator Fumo signed an agreement giving up rights to his 27 bedroom mansion in Spring Garden, homes at Jersey Shore and Florida and a farm outside of Harrisburg should he run away and will have to check in with court officials four times a week and also not leave the nine-county federal Eastern District without permission from officials. The defense team made of the ex-senator’s lawyer Daniel J. Cogan promises an appeal of the verdict and is contesting an issue in which Judge Buckwalter kept Juror Eric Wuest on the jury panel after posting an online status about the case on the social networking sites Facebook and Twitter as juror are prohibited from revealing facts about a case. The revelation indicates that this intriguing trial which lasted over 22 weeks might not be completely over after all.

By: Piayon Lassanah

By: Adrian Gonzalez

With a contract deadline of Sunday at 12:01am, will the Southeast Pennsylvania public transportation provider, Septa, go on strike? Contracts expire but negotiations have been positive between Septa and the local workers union. Even though a strike does not look like it will happen, there is still chance that it may since new contracts are yet to be signed. A strike will not be good because so many people rely on Septa to go to work, go to school, or just as a form of everyday transportation. Hopefully contracts are agreed upon because I rely on Septa myself at least during the week. Also, even though gas prices are reasonable right now, they are currently rising slowly.

By: Adrian Gonzalez

New Jersey’s Governor, Jon Corzine, wants taxpayers to dish out more money to support a proposed $29.8 billion dollar state budget. Corzine says that this move will “put our state on a stronger footing for tomorrow”, when discussing the potential effect on the state’s future. The governor wants to eliminate property tax rebates for all except the elderly and citizens that make less than $75,000 a year. He also wants to raise taxes on on the rich and employers. The $2 billion that New Jersey will receive from the federal stimulus package will reportedly go to education and medical needs. Raising taxes is also part of the budget plans whick will not sit well with many. Click here for more details on the NJ budget plans.

By: Adrian Gonzalez

After last year’s horrific summer at the pumps, gas prices look like they are slowly rising as it gets warmer again. The average gasoline price for unleaded gas has risen about 30 cents since December. The demand for gas dropped significantly during last summer’s price increases past $4 dollars. As the prices went down, the demand increased but seems like the prices are just going back up. If it continues, this summer will be horrific for many once again. Also, analysts say that gas prices will be rising another 5-25 cents within the coming weeks. Play it out smart everyone because times are rough and this will makes it worst.

By: Adrian Gonzalez

Yes, I know it sounds like it is coming early but the clocks do change this weekend. Daylight savings time begins this Sunday March 8, around 2:00am or so, and ends on November 1. The time will go ahead by 1 hour taking an hour away to sleep but in return the day will be an hour longer. This is my favorite time of the season and is a sign that good weather in coming and it’s almost summer time.

By: Adrian Gonzalez

The Southeastern Pennsylvania Transport Authority (SEPTA) is expected to create over 5,000 jobs as part of President Obama American Recovery and Reinvestment Act in the economic stimulus plan. SEPTA is expected to receive about $200 million which is more than half of its operating budget sometime in late spring as part of the Reinvestment Act and has planned on implementing several infrastructure improvement operations which will immediately create the numerous job opportunities for citizens. Small and large businesses in the area are already in a bidding competition to win construction projects created by the stimulus package. Among the new jobs created by the Stimulus projects supposedly includes 1,915 in construction, 875 in material companies, 2800 in goods and service provision companies to construction and material workers.

The Stimulus project is also expected to include about $36 million for the “well deserving” renovation of the Broad Street Line, Girard and Spring Garden Station” and about $5.3 million for the renovation of R5 Lansdale line bridges and Norristown Viaduct which has faced a continuous deterioration. The funds of the stimulus project are expected to support the cost of 40 new hybrid buses to the tune of about $18 million and about 20 other stimulus-funded projects are expected to be bided upon later this month and sometime in the next including a $23 million Fern Rock Yard track renewal project. The creation of over 5,000 jobs will hopefully begin soon enough to help regenerate consumer spending in the area and nation as a whole.

By: Piayon Lassanah

Reports of a Nor’Eastern surfaced late last week. The snow started yesterday around 6pm eastern time in Philadelphia. The storn hit many other states including Alabama, Georgia, New Jersey, New York, Connecticut, and Massachusetts. Late last ght, the news channels announced that there would be no public or catholic schools open today. As I am writing, there is still snow falling, and will not stop until early in the afternoon. New Jersey has a total of about 10 inches so far with 4-6 inches still about to fall. Be careful going out today because even though the snow looks pretty, it can be dangerous.

By: Adrian Gonzalez

President Obama informed lawmakers yesterday that he plans on withdrawing combat troops out of Iraq by August of 2010. The president however plans on keeping up to 50,000 support troops in Iraq after combat troops have left in 2010. Although the plan falls only three months short of Obama’s initial campaign promise of bringing combat forces home within 16 months, the delay is viewed as essential by members of both parties as it gave military officials more time to complete their mission in Iraq. The President told lawmakers that he plans on keeping support troops within the 35,000- 50,000 range after combat forces leaves and military officials believe this will be crucial in protecting U.S interest in Iraq as these troops will focus on overseeing supplies and logistics. Some Democrat officials are supposedly in slight opposition believing that the number of non-combat forces is too large while other republicans like Senator John McCain supports the plan to leave 50,000 non combat troops in Iraq.

The plan will apparently seek a compromise between both parties and the President indicated that the plan will be revisited should conditions in Iraq deteriorate after the troop’s withdrawal. The President said his decision was based on consultations with military commanders and he plans on revealing full details later today during his trip to camp Lejeune, the largest Marine Corp base on the East coast with about 150,000 people in North Carolina. Current Iraqi prime minister in a statement issued yesterday expressed little concern over the troop’s withdrawal and seemed confident in his local Iraqi troops stating “We have faith in our armed forces and our security services, to protect the country and consolidate security and stability….. [And] We have no worries for Iraq if American troops pull out. Thank God we have succeeded in ridding ourselves of sectarianism and racism.

By: Piayon Lassanah

President Obama addressed a joint session of congress last night in a widely applauded speech which stressed on reviving our struggling economy. The president offered hope to citizens after acknowledging the severity of current economic times and expressed his usually relentless spirit while promising better times as he stated “”We will rebuild. We will recover, and the United States of America will emerge stronger than before.” The President also reminded us of the need for urgency of action in matters relating to Finance, Healthcare and Education. With finance Obama urged congress to quickly “reform our outdated regulatory system”, In Health care he stated “reform cannot wait, it must not wait, and it will not wait another year” and when speaking on Education the president would quicken the reform pace and “expand our commitment to charter schools.”

President Obama assured citizens of the safety of our financial system, a matter of constant concern in recent times as banks stocks have fell sharply especially with the recent fear of nationalization. The President stated “you should also know that the money you’ve deposited in banks across the country is safe; your insurance is secure; you can rely on the continued operation of our financial system.” President Obama also expressed his satisfaction that the stimulus bill was passed and promised huge oversight of the spending after asking Vice President Biden “to lead a tough unprecedented effort…….because nobody messes with Joe”. The President expressed his desire to cut the federal budget and eliminate wasteful spending as he explained “In this budget, we will end education programs that don’t work and end direct payments to large agribusinesses that don’t need them. We’ll eliminate the no-bid contracts that have wasted billions in Iraq, and reform our defense budget so that we’re not paying for Cold War-era weapons systems we don’t use.” The President’s speech was well received by his audience as he drew applause from lawmakers and many watching it on television also expressed their satisfaction with the president’s speech.

By: Piayon Lassanah

President Barack Obama after proposing the stimulus bill to help revive the slumping economy is currently working on a plan to reduce the federal budget deficit in half by the end of his first presidential term in the year 2013. The President who is faced with a $1.3 trillion dollar budget deficit from the previous administration plans on cutting the deficit to about $533 billion largely by reducing the Iraq war expenditures and eliminating the temporary tax breaks established by former President Bush. Obama who will be releasing the blueprint for his fiscal budget for 2010 later this week said in his weekly radio address that his budget will be “sober in its assessments, honest in its accounting, lays out in detail my strategy for investing in what we need, cutting what we don’t, and restoring fiscal discipline.” The budget plan will supposedly eliminate former president Bush tax breaks to individuals making $250,000 a year and is also expected to have cuts in some government health programs to free up more money and increase access to healthcare as part of his plan to reform the national health care system.

By: Piayon Lassanah

19 year old Roger Leon Barlow Jr and 20 year old Mark Gilliam were arrested yesterday in connection with the Arson cases in the Coatesville area this year. Barlow was arrested after he confessed to starting at least 9 of the 23 fires in the Coatesville area this year. Barlow Jr is a resident of Downingtown just nine miles away from Coatesville and his intent is still unknown. Barlow is facing arson, aggravated assault and related offences charges and admitted to starting the January 24 fire which spread across 15 row homes in the Coatesville area. He is currently in a Chester County jail with bail set at $9million with a hearing on Monday. Coatesville which has about 10,000 residents was devastated by 18 fires this year and 5 others in nearby communities. Barlow lived in a Downingtown apartment home with his family and his mother admitted that he has a slight “mental handicap” for which he had “been in counseling services ever since he was a boy” and spent most of his high school days in special education. The second suspect Mark Gilliam was arrested later and charged with attempted arson for the January 25 incident at the Happy Days Family Bistro in Thorndale which is about four miles away from Coatesville. It is believed that the two know each other and authorities reportedly seized computers from Gilliam’s home.

Motion sensor lights were distributed to residents by residents and patrols in the area was also increased earlier this month. Investigations are still underway to solve the remaining cases and residents are hoping that those responsible will be caught and brought to justice.

By: PIAYON LASSANAH

In the first step of a reform effort Superintendent Arlene Ackerman of the Philadelphia School District is expected to present the draft of a new 5 year reform plan at the School Reform Commission meeting at the district office on 440 North Broad Street. Goals of the presented draft will include “student success, school choice, great staff, accountability for all, and world-class business operations” in an effort to reform consistent failing schools. Nine work groups made up of district employees and school workers proposed classifying the consistently failing schools under 4 reform models charter, contract, innovation, and performance schools as a means of determining an appropriate reform intervention. Citizens and others present will be allowed to ask questions regarding the daft proposals as the reform group have until March 18 to present a final version of the reform plan before the commission. The draft proposal is expected to rival a similar plan undertaken by Chicago for its failing public schools and is another major step towards reforming the district by Superintendent Acker who arrived in the city in June.

By: Piayon Lassanah

On Friday night around 8pm, Philadelphia Police responded to yet another murder in the city, but this time it was another police officer. Officer John Pawlowski of the 35th Police District first responded to an attempted robbery on Broad and Olney where the killer, Rasheed Scrugs, was trying to rob a cab driver. Apparently Scrugs said that he would kill the cabbie and the police if they responded to the scene. Scrugs kept his word. When officer Pawlowski arrived he told Scrugs to take his hand out his pocket, and he refused. Scrugs then shot at the officer through his jacket, not allowing the officer to even see the gun . Officer Pawlowski was killed at the age of 25 and left back his wife who was 2 months pregnant with their first child. Scrugs was shot and is still in the hospital. This is horrible what is going on in our city and needs to stop. People are so cold-blooded and need to realize that police are of higher authority and are only here to protect the city and its people. VILLA sends out its condolences to the Pawlowski family and 35th Police District.

By: Adrian Gonzalez

Senator Roland Burris of Illinois is hearing calls by Republican legislators for his resignation after reports he released on Saturday indicated that he was contacted by Robert Blagojevich the brother of the impeached Governor Rod Blagojevich for assistance with raising campaign funds for the former governor, a statement which contradicts his testimony before a House Committee investigating Blagojevich last month. Senator Burris believes there wasn’t any wrongdoing and explained “I’ve always conducted myself with honor and integrity…..At no time did I ever make any inconsistent statement.” The Senator who was nominated by ex Governor Blagojevich as a replacement for President Obama’s vacated Senate seat has been under scrutiny by several news media and mostly republicans after it was revealed that the ex governor had solicited funds from candidates for the position.

Republican Representative Jim Durkin also of the impeachment committee and House Republican Leader Tom Cross have called for an investigation of Senator Burris about a possible perjury. The House investigating committee had asked the Senator if he had ever spoken to Robert Blagojevich or other aides of the ex governor about President Obama vacated seat but the senator didn’t reveal any contact with Robert Blagojevich. Current Governor and Democrat Pat Quinn who replaced Rod Blagojevich however stated that the Senator at least owes the people of Illinois an explanation for the contradiction. Senator Burris in defense issued a statement explaining “I was asked to raise money by the governor’s brother and made it unequivocally clear to him that it would be inappropriate and pose a major conflict because I was interested in the Senate vacancy…..I did not donate or help raise a single dollar for the governor from those conversations and would never consider making a donation through a third party”.

By: PIAYON LASSANAH

Continental Airlines Flight 3407 crashed late yesterday into a house in suburban Buffalo, New York killing the 44 passengers and five crew members on board. The flight was coming from Newark’s Liberty International airport in New Jersey and en-route to the Buffalo Niagara International Airport in Clarence Center, New York. The unfortunate incident occurred at about 10:20pm when the flight hit the home and burst into flames only five minutes before its due arrival at the Buffalo Airport. Emergency Response team rushed to the scene as Fire trucks attempted to put off the blaze but the cause of the crash to the 74-seater turboprop Bombardier Dash 8 Q400 plane was undetermined as of yet.
There was a slight wintry mix around the area during the crash however which could be a factor as 12 of the nearby houses had to be evacuated and a limited state of emergency declared in the area. The two residents of the home are believed to have made it out safely after residents confirmed watching the blaze with them nearby. A video from the scene after the crash can be seen here.

By: PIAYON LASSANAH

Looking for ways to compete in the market, Microsoft has revealed plans about a web-based service that will allow users to store, share, and backup their data from their cell phones. The site will allow users up to 200mb of free storage to use for their files. The service will connect only Windows 6.0 and possibly 6.1 operating system operated phones to the web. In the process, selected files will go through the synchronization process where they will be backed up online on the website and users will be able to access them by signing up for the free service. This service might be great for many users of Windows based phones that have issues saving or backing up their files. There is not an exact mention of when the service will be available. How will this affect the sales of Windows based and non-Windows based cell phones?

By: Adrian Gonzalez

Nissan announced that it will post its first loss in nine years and is expected to cut about 20,000 jobs as it is experiencing the rippling effects of the global recession as economies continue to struggle during this period of downturn. Nissan which is Japan’s third largest automaker behind Toyota and Honda is expected to post a net loss of $ 2.91billion dollars as demands for its popular Altima and Xterra models declined considerably. Many other automakers are also experiencing the economic crisis as car sales have declined to its lowest since the 1980’s and automakers expect the downward trend in auto sales to continue. Toyota, Honda, Mitsubishi, Mazda, General Motors, Chrysler and Ford have all posted yearly losses. Nissan also announced that it will be eliminating bonuses for members on its board of directors and will also reduce their salaries by 10 percent while cutting global production by 20 percent and reducing labor cost in high-cost production countries.

By: PIAYON LASSANAH

The Senate will try another attempt at passing President Obama’s proposed $937 billion dollars stimulus package today after it was approved by members of the house last week. The stimulus package which was originally about $800 million and was passed by the majority-led Democrats in the House without a single Republican vote has been increased with incentives supporting the declining housing and automobile industries and additional funding for medical research. Republicans criticized the package figure as being too large, without enough tax cuts while stating that it doesn’t create enough jobs. Democrats however hold the majority in the Senate with 58 seats and would require only 60 votes to pass the package. Obama and other democrats have lobbied for some Republican support in passing the bill stressing its importance due to the current economic crisis.

Some Democrats worked with Republicans on reducing the package with the hope of gaining the needed bipartisan support to pass the bill and attempted to make a $100 billion dollar reduction in the package. Also expecting to influence the passing of the stimulus package is a job report which is also expected to be released today and most experts are predicting a job loss of over $500,000 for the last month as applications for jobless benefits have risen to its highest in 26 years.

By: Piayon Lassanah

After failing to gain a two-thirds majority vote last month on the idea of postponing the Digital Television switch from regular antennas, the house will vote again today but will require only a majority bill this time to postpone the transition to DTV. Advocates have pushed for a delay in the transition from the 17th of this month to a later date since most eligible homes are currently without digital converter boxes and the transition would leave them without regular television service. It is estimated that about 1.8 million people are currently on the waiting list to receive about 3.3 million coupons and it is highly unlikely that these individuals who are mostly poor, disabled or elderly will receive it before the 17th deadline due to the processing length of applications. Each coupon provides a $40 dollar discount off the price of a DTV converter box and comes with a two per household limit and also households with cable service providers wouldn’t need to make any adjustments. The senate had also approved the postponement bill earlier in a vote and is waiting on members of the House to carry-on with the process today.

By: Piayon Lassanah

Governor Rendell plan on instituting a Tuition Relief Act which would provide about $128 million in grants for state-system schools to help provide financial assistance for college freshmen’s attending community colleges or any of the 14 state schools. The grants will be based on family income and families earning less than $ 100,000 will be eligible for benefit with every student paying at least $1,000 towards their college education. The Tuition Relief Act according to Rendell is an important component of his budget this year as many families are facing financial pressures of financing education, especially with Pennsylvania being considered one of the most expensive states for financing college education. The Tuition Act also proposes an increase in the yearly funding of each new freshman class over the next four years to a final cost of about $534 million.

The Act projects additional 10,000 students to enroll into the current state system of 112,000 and another 10,000 into community colleges which currently enroll about 190,000 with the increase in funding. The Governor is expected to elaborate further on the Act and reveal how it will be funded. The 14 state-system schools expecting to receive aid includes: Bloomsburg, California, Cheyney, Clarion, East Stroudsburg, Edinboro, Indiana, Kutztown, Lock Haven, Mansfield, Millersville, Shippensburg, Slippery Rock and West Chester while it is still unclear if the two other state related colleges; Temple University and Penn State will receive aid.

By: Piayon Lassanah

Philadelphia Mayor, Michael Nutter, will be visiting VILLA’s 4034 Lancaster Ave. location on Sunday, February 8, 2009 at 1pm to announce the launch of a new commercial corridor revitalization program. The funding from this program will provide $13 million in improvements on Philadelphia commercial corridors. VILLA has been chosen as an example of a strong and thriving neighborhood business. VILLA is proud to serve as an anchor business on a growing commercial corridor like Lancaster Avenue. We will continue to support vibrant urban neighborhoods.

By: Adrian Gonzalez

In what many say has been the roughest economic times in decades, the fourth quarter in 2008 recorded the highest decrease in gross domestic product (GDP) with a 3.8% decline. GDP is a crucial measure of economic performance. Analysts say that the decline could have been at 5% if shipments of goods declined at the same rate as orders did. Exports in the fourth quarter of 2008 declined by 19.7% and imports declined by 15.7%. Credit spending has gone down as well and experts believe these rough economic times will continue right through the summer. This is the most the GDP has dropped in about 25 years. With what seems like a great new stimulus plan by President Barack Obama, hopefully everyone will be able to recover soon than later.

By: Adrian Gonzalez

Toyota Motor Corporation has announced that it will recall more than 1.35 million Vitz and two other models. The reason for the recall is for a global defect in the seatbelt and/or a component in the exhaust system. The recalls in Japan consist of a little over 525,000 Vitz, Belta and Ractis cars that were built from January 2005 to April 2008. The Belta is also known as the Yaris in many other markets. Even with this recall, Toyota is still considered the global industry leader and even over took General Motors in global sales last week for the first time ending GM’s 77 year run as the world’s largest automaker. So, if you are an owner of the Toyota Yaris look into the current recall and make sure your car is not part of the recall.

By: Adrian Gonzalez

The Southeastern Pennsylvanian suburb of Coatesville experienced another fire damage over the weekend as over 15 homes were destroyed on the 300 block of Fleetwood Street causing over $1million dollars in damages and leaving dozens of people homeless. The fire which led the city to declare a State of Emergency is believed to be arson related as the Coatesville community has been under siege recently experiencing about 13 arson related damages in the New Year. The severity of the fire was intense as the local fire department required assistance from 25 other departments in the surrounding counties of Chester, Montgomery and Lancaster but thankfully everyone escaped unharmed.

The Southeastern Pennsylvania chapter of the Red Cross also rose to the occasion by providing financial assistance for food, clothing and hotel accommodation according to a representative of the organization. Some citizen’s had already formed community watch groups to provide surveillance assistance primarily at night as residents expressed their discontent with the small number of readily available police officers. City officials have been supplying smoke detectors and batteries to citizens while planning on providing motion sensor lights at a reduced rate with hope of solving the problem while urging citizens also to clear all unwanted trash and debris from porches and backyards as the have all been connected in the arson cases.

By: PIAYON LASSANAH

The proposed merger of two of the Pennsylvania’s most popular and largest health insurance companies came to an end apparently after both parties were unwilling to accept some conditions of the merger as established by the Insurance Department. Highmark Blue Shield which operates out of Pittsburgh and Independence Blue Cross which is based in Philadelphia had submitted a merger application in April of 2007 but both parties became skeptical of its approval and ended talks after believing that the State Commissioner Joel Ario wouldn’t approve the merger. Commissioner Ario later stated that “In this case, bigger would have been bad for consumers… [And]…it would have given the new company … too much leverage in the Pennsylvania market.” If completed the merger would have generated the seventh largest U.S. insurer in the lowly competitive insurance market of Philadelphia. Both parties explained that a condition of the merger was to forgo either the Blue cross or Blue Shield logo which they were unwilling to meet as this would have drawn another Blue plan competitor to operate in Pennsylvania which would most likely lead to loss of revenues due to competition. Most Pennsylvania residents are currently faced with high rates of coverage which has also contributed to the large number of uninsured adults in the region.

.By: PIAYON LASSANAH

Barack Obama was officially sworn in as the President of our United States on the historic day of January 20th, 2009 during the inauguration ceremony in Washington D.C. In the presence of more than a million jubilant crowd and at the most anticipated event in recent history Barack Obama was sworn in as President at noon taking over from George W Bush. President Obama later during his inaugural address to the nation explained “On this day, we gather because we have chosen hope over fear, unity of purpose over conflict and discord”. He indicated the urgency of the current economic situation and the need for Americans to take action and work together in improving the country, he explained “Starting today, we must pick ourselves up, dust ourselves off, and begin again the work of remaking America.” The President also indicated that “What is required of us now is a new era of responsibility — a recognition, on the part of every American, that we have duties to ourselves, our nation, and the world, duties that we do not grudgingly accept but rather seize gladly… [And]…This is the price and the promise of citizenship.” The President expressed a desire of friendliness in foreign relations but stated that America will not be in fear of anyone. The President reiterated the need for America’s support and patience with his administration as change may take a while and “With hope and virtue, let us brave once more the icy currents, and endure what storms may come,” Obama said.

Such a historic and joyous event was however faced with an unfortunate event as Senator Edward M. Kennedy suffered a seizure due to his brain cancer condition and was taken away in an ambulance but all appeared well as it was confirmed that the senator was laughing and joking at the hospital and anticipating work. A slight setback however was the inability of Hilary Clinton to obtain confirmation in the senate as secretary of state after several colleagues of hers on Obama’s cabinet did. Senator Cornyn of Texas is reportedly blocking her confirmation as he expressed concerns about financial donations to her husband’s foundation, Hilary however is expected to receive confirmation in a day or two from the democrat led senate. The President later danced the night away with his wife Michele at several Ball events organized for the inauguration before retiring to the white house.

By: Piayon Lassanah

One of the most important and recognized activist in United States history is officially being honored today. MLK’s official birthday is Jan 15, 1929 but the U.S. honored him by making the third Monday of January, a national holiday. MLK is known for a non-violent civil rights movement that protested racial discrimination in federal and state law. Also, for the “I Have A Dream” speech on his “March to Washington.” President Ronald Regan signed the national holiday into law in the year 1983. Across the U.S., this day is also a day of service and today the Villa will be servicing at Kensington High School in Philadelphia, PA. MLK was assassinated in 1968. Happy Birthday MLK!

By: Adrian Gonzalez

Thursday afternoon’s top story in the news was about a plane crash in the Hudson River in New York. US Airways Flight 1549 was on its way to Charlotte, North Carolina when it crashed into a flock of birds just after takeoff from LaGuardia Airport. The crash disabled the engines and the pilot ended up maneuvering the plane into the Hudson River. The flight had 155 people on it in total and all of the passengers survived. One victim did suffer two broken legs, but no other major injuries were reported. The governor says it was a “Miracle on the Hudson”, as everyone survived. One shot of the scene showed how the passengers were standing on both wings of the plane while the plane was floating in the frigid waters. God bless everyone on that flight.

By: Adrian Gonzalez

This whole week a good portion of the nation will be experiencing very frigid temperatures. The temperature is very low in the Midwest and Eastern parts of the United States. Some places are experiencing temperatures in the double-digit minus range. Today and especially the rest of the week will feel very frigid outdoors. In some parts of New York it has reached as low at 8 degrees below zero. Places like Indiana, Ohio, Chicago, and Minnesota are experiencing frigid temperatures along with ice and snow. So stay bundle up if traveling the rest of the week because it will be very cold!

By: Adrian Gonzalez

Philadelphia Gas Works customers will experience a slight rate increase of 5.2% this year in an effort to bail out the company due to its poor financial state primarily as a result of a financial deal arranged by CDR Financial Products with JPMorgan Chase and Co. The increase will require customers to raise about $60 million dollars of which $30 million will be used to cancel the deal with the remaining funds being used to shore up the company finances. The interest rate swap deal was done in 2006 when PGW refinanced about $310 million in debts by selling bonds in an attempt to capitalize on low interest rates with JPMorgan Chase and Co agreeing to buy back the bonds if investors refused them with PGW also paying bond insurers Financial Security Assurance to guarantee the bonds if PGW was failed to continue paying them off. Also PGW had the choice of issuing fixed-rate bonds at 5.25% interest rate or agreeing to an interest swap agreement which would mean a cheaper initial rate and the company chose the latter and hired CDR to complete the deal. CDR used JPMorgan and Chase to complete the swap which resulted in an annual savings of about $4.5 million dollars but as a result of economic turmoil’s, interest rate increase, and bond markets freeze, PGW ended up on the wrong end of a seemingly cost effective deal.

PGW is allegedly paying a 7.25% or an additional $6 million dollars annually on bonds and the worst case is JPMorgan informed PGW that it can no longer hold its bonds which according to the deal calls for PGW to pay a total of $60 million annually for the next five years beginning in July until its debt are paid off, with the only escape clause requiring PGW to pay over $30 million to JP Morgan and Chase to cancel the deal or find a new lender who’s willing to sell new bonds before the July date. The rate increase for residents comes as utility companies across the region cut rates to providers due to the low price of natural gas and also eliminates some of the benefits of the 9.4% temporary reduction rate established by PGW which expires in the spring but the cause of this unfortunate circumstance is primarily attributed to the state of the economy which has affected financial institutions.

By: Piayon Lassanah

Yesterday was the first big speech that president-elect Barack Obama has given since winning the presidential election back in November 2008. The setting of the speech was George Mason University in Fairfax, Virginia. The topic of the speech was the ever so popular state of the economy. One important aspect of the speech was the proposed $3,000 tax credit to companies that hire workers or retain workers. Other subjects mentioned were infrastructure, technology, global warming, jobs, and energy. The main outcome of the speech was the mixed opinions from both democrats and republicans. They both agreed to not completely side with how the possible $1 trillion dollars that will be need will be used and in general that the amount is just too much. With the state of the economy doing so poorly, it may now take a few years to return to normal.

By: Adrian Gonzalez

 Still need DTV coupons to purchase your digital converter box for the February 17 digital transition? Well it looks like you may be in some trouble. The NTIA (National Telecommunications and Information Administration) has just announced that the funds in $1.34 billion dollar program have been exhausted for the time being. So what does this mean to us the consumers? Well, anyone that let their coupons expire is basically out of luck, unless they know someone that can get them one. Even new people that still haven’t signed up for coupons will be placed on a waiting list to try and receive those that were let expired by other consumers. This also means that approximately 8 million households will not be prepared for the digital transition, which is what the government wanted to prevent by starting the coupon program in the first place. There were survey’s which had consumers feeling that the transition was still too confusing and this could be one reason many let their coupons expire. Whatever the case may be, hopefully if the program is able to get more funds, all households will get their boxes as soon as possible if they do not have cable or satellite already.
 
By: Adrian Gonzalez

New Mexico’s Governor Bill Richardson decided to relinquish his nomination as president-elect Barack Obama’s commerce secretary yesterday, just a few weeks to the presidential inauguration. The reason for withdrawing his position was that Richardson is part of a grand jury investigation in which some of his political donors won an enormous state contract. A California based company contributed to Richardson’s political activities and after won a little more than a $1 million dollar transportation contract after that. The investigation is saying that Richardson played part in how much the company was given in the contract. This is the second disruption that has plagued Barack Obama during the period before inauguration, as the first was when Illinois Governor Rod Blagojevich was arrested for trying to apparently auction off Obama’s senate seat. Obama has done a good job in keeping quite with these two incidents, but now he just needs a new commerce secretary.

By: Adrian Gonzalez

With the plans of shutting down 11 Philadelphia public libraries by Mayor Michael Nutter and his administration, Judge Idee C. Fox ordered not to close any libraries without city council’s approval on Tuesday afternoon. This decision was made a day before the libraries were originally scheduled to close. Judge Fox said that closing the libraries would do a lot of harm to the members of the communities the libraries were located in, especially heavy users. Mayor Nutter will appeal the decision but will now need the approval of city council, which will probably be denied. In budget related news, the judge did approve the closure of several fire houses saying that the fire unions did not have sufficient backup information to keep them open. With the $8 million that was to be saved from closing the libraries, the Mayor will now have to work on another plan to save this money.

Happy New Year everyone!

By: Adrian Gonzalez

Philadelphia Mayor Michael Nutter will be having a news conference at City Hall today at 1pm to discuss the current situation of the Philadelphia libraries. When first mentioning the state of the economy for the city, there was mention of big budget cuts and one important cut was libraries in the city. Mayor Nutter mentioned closing down city pools and libraries. When the talk of closing libraries was mentioned many parents and city officials were angered and it was not just one library mentioned to close, it is 11 libraries to close. Three city council members are angered because they do not want to allow Mayor Nutter to make the decision to close the libraries without their approval. Nutter has been going to townhall meetings at local high school to discuss the city’s budget deficit and today’s conference will possibly give a brighter look on the state of the city libraries.

By: Adrian Gonzalez

Wal-Mart agreed to settle a lawsuit brought by former employees who complained about the company’s terrible work practices towards employees. Wal-Mart is expected to pay up to $640 million dollar in settling about 63 nationwide lawsuits against the company relating to unfair work-related practices after employees accused the company of not issuing breaks, refusal to pay overtime, and a general mistreatments of workers over the pass years. The final amount to be used in the settlement by Wal-Mart is expected to reduce the companies’ fourth quarter profits or share price by about 6 cents. Wal-Mart has faced harsh public scrutiny over allegations made by many due to its working conditions and officials believe the negative limelight has harmed the company’s reputation and in some cases revenue generation potential, as many individuals view Wal-Mart as exploitative towards its employees.

By: Piayon Lassanah

The College Opportunity Resources for Education (CORE Philly) program which was recently closed due to insufficient funding is reportedly under federal inquiry after FBI officials questioned employees of the program regarding the use of its finances. Core Philly is a scholarship program for Philadelphia high school graduates that provide four year financial assistance for college tuition and related expenses. The program was founded by State Representative Chaka Fattah in 2003 and supported by former Mayor John Street, the Philadelphia School District and City Council and received $4million and $6 million a year for four years from the City and School District of Philadelphia respectively.

It is reported that federal investigators made an inquiry about the use of the program finances and Representative Chaka Fattah believes it was made concerning a $700,000 dollars grant made by the Justice Department and that this is a regular procedure for monitoring federal funds and that it may have gained high exposure due to complaints from a disgruntled employee. Chaka Fattah although holding no position in the program operations has helped raised millions of dollars as a result of his legislative position in congress and being a member of the influential House Appropriations Committee but he recently announced the its closure due to budget cuts and its inability to raise money for an endowment fund as only $5 million of the initial $200 million goal has been met. The program has benefited several high school graduates and close friends of mine and it is still the hope of many that the program can be revived by seeking additional sources of funding.

By: Piayon Lassanah

President George Bush announced a plan today to provide General Motors and Chrysler with $13.4 billion in loans and an additional $4billion in February from the Treasury Department Temporary Assistance Relief Program which was established to primarily assist financial institutions and the housing industry. Ford stated earlier that it didn’t need immediate assistance and that’s why it wasn’t included in the assistance package. The plan is expected to temporarily save General Motors and Chrysler which had already planned on cutting jobs due to their troubled financial situation. The financial industry had requested assistance over a month ago went representatives from Ford, General Motors and Chrysler went to Congress but were denied initially and told to come back with a better financial sustainability plan. On a second attempt the House agreed on a plan to assist the companies which was later denied in the Senate and on Thursday President Bush proposed the idea of a structured bankruptcy which sparked fear into many citizens who relied on the industry for Jobs. It is expected that the companies will need more financial assistance and might receive additional aid from President-Elect Barack Obama economic revival plans

By: Piayon Lassanah

The infamous Iraqi reporter Muntadhar al-Zaidi who threw his shoes at President George Bush during a press conference on a surprise visit to Iraq received support from hundreds of supporters who urged the Iraqi government to release him from prison. The video of al-Zaidi throwing both shoes at President Bush was aired worldwide and has been a popular search on Youtube’s website. Immediately after Al-Zaidi was approached by several security officials who threw him to the ground and arrested him and he is likely to be charged with assaulting a foreign Head of State under Iraqi law and is expected to face trial soon. The supporters who were mostly students from Diyala University in Iraq consider Al-Zaidi an honorable Iraqi and urged the government to release him immediately. Al-Zaidi brother however fears for his safety saying his brother might be assassinated once he is released.

By: Piayon Lassanah

As if the current financial crisis hasn’t been terrible enough, 2 individuals Michael Dreier and Bernard Madoff were busted in less than a week for fraudulently cheating investors out of millions of dollars in a serious case of white collar crimes. The first culprit Dreier who is a Harvard Law School and Yale College graduate was first caught in Canada after he impersonated another Lawyer at a Teachers’ Pension Plan but was later released on a $100,000 bail only to be arrested when he returned to his residence in New York for fraud. Dreier who owns Dreier LLP and has about 85 employees working for him somehow managed to dupe two hedge funds into giving him over $100 million dollar and claiming that he sold financial notes at discount rates. Those unfortunate employees of Dreier LLP are most likely going to lose their jobs at a crucial time as the holiday’s approaches. It is estimated that Dreier cheated investors and hedge funds of about $380 million. Hedge funds is defined as “an actively managed private investment fund that seeks attractive positive returns by employing many aggressive and conservative strategies, instruments and tools of the trade” and usually generate higher returns then stocks and bonds but involves larger sums of money and has experienced its share of decline in the current financial crisis. Dreier is currently being held in prison and has been refused a $10 million dollar bail request for fear that he might escape.

The second culprit Bernard Madoff was well trusted in the investment sector as he was formerly the chairman of the Nasdaq Stock Exchange. Madoof is believed to have duped high profile investors, pensioners, charities, and banks to the tune of about $50 billion after running a major scam in which he over-paid investors with cash from investments by new investors and was caught trying to give his unknowing employees millions of dollars. The unfortunate employees will likely be without jobs as the holiday approaches also. The list of victims of the scam includes major foreign financial institutions, the charitable foundation of Carl Shapiro a Boston Philanthropist, HSBC, Fred Wilpson owner of the New York Mets, Norman Braman a former owner of the Philadelphia Eagles, the charitable foundation of Senator Frank Lautenberg of New Jersey etc. It is still being determined is these individuals will be able to at least recoup some of their monies after the SEC froze all revenues of Madoof Investment Securities LLC.

By: Piayon Lassanah

The proposed $14 million auto bailout for General Motors, Ford, and Chrysler reportedly collapsed in the senate after initially being approved by congress. The current dispute is believed to be over union wages as republicans proposed labor cuts and that work rules be similar to its Japanese competitors Honda, Nissan and Toyota. The collapse of the bailout comes as a surprise as it was already approved by the House and even backed by President Bush and the White House. The current alternative being explored is using part of the $700 billion Wall Street rescue package to assist the three automakers as their collapse will have a significant impact on Wall Street and the entire global economy. General Motors and Chrysler are seeking immediate assistance while Ford stated it has enough funds to last at least a year but will need long term financing. The timing of the bailout is also crucial as a complete collapse would mean several job losses during the holiday period as many families will struggle to provide food and gifts for their loved ones and would further weaken the economy which is deep in a recession.

By: PIAYON LASSANAH

The current financial crisis in the United States and globally across the world has had several effects on city’s finances and revenues across the world. The financial crisis which was triggered by the subprime mortgage problems posed several problems for cities trying to raise funds through loans or attempting to maximize returns on financial investments to help maximize their revenue generating potential and this has led to cuts in city services and rate increases in service provision. Cities revenue are primarily generated through taxes, state and federal aid and are used to provide services and build infrastructures with additional revenue coming from borrowing as in municipal bonds, returns on investments and additional taxes, fees or charges. Cities have several sources of revenue generation to carry out their various services and projects and among these include property taxes, federal and state grants, borrowing, special taxes, fees and charges and capital investments.

As homeowners default on their mortgages and their homes become foreclosed there are less property tax assessed on individuals and henceforth less revenue for cities. The decline in the housing market also posed a problem for cities as lower property values will result in less revenue generated from assessed properties. Also when issuing municipal bonds cities collect funds from individual and other investment bankers with the goal of repayment after a specific period of time but recently the volatile markets and economic crisis have made it difficult for most to honor their commitment on bonds proving that they aren’t as safe as once considered and this also leads to a huge decline in bond purchases meaning less revenues for cities. In spite of the crisis mayors have been pleading to state and federal officials for additional aid to help their cities fund additional infrastructures and carry out regular services but have been denied up till now. Cities normally invest excess funds or funds for long term projects into financial equities, securities and other investment pools to maximize the return on these funds and generate additional capital while minimizing losses. The financial crisis led to huge loses for many cities especially in hedge funds, domestic, private and international equities. Hedge funds which “is an actively managed private investment fund that seeks attractive positive returns by employing many aggressive, and conservative strategies, instruments and tools of the trade and have resulted in significant losses of up to 20 percent this year. Philadelphia, New York Texas and San Diego are examples of hedge funds owning cities. San Diego had “lost about $87 million in its pension funds when its hedge funds Amanrath bet heavily on natural gas and lost over 65 percent of its total asset. The experiment by San Diego echoed the problems most cities were already facing as they had experienced huge losses due to the financial markets and at the time any risky investment were and are still being avoided by investors.

Mayor Michael Nutter of Philadelphia, Shirley Franklin of Atlanta and Phil Gordon went to congress to request $50 billion in aid to cities from the treasury bailout fund but were denied. Most cities are resulting to cutting services or increasing rates for certain services to avoid a budget deficit. Philadelphia experienced cuts in fire, libraries, pools, snow removal and garbage disposal services in an attempt to avoid a $108 million budget deficit in six months. Chicago mayor Richard Daley’s budget proposal included an “increase in downtown daily garage parking taxes to $3 from $2.25, increase in taxes on tickets to sporting events and theaters by one percentage point and enact a new annual fee on private garbage dumpsters for businesses and larger condominium and apartment complexes”. Milwaukee also increased fees as snow removal fees rose in September by a total of $7.50 each for households and is still considering a $37 garbage collection fee increase. The problem cities face when increasing rates to generate additional revenues is the threat of residents leaving as a result of these rate increases and this places cities in a tight position trying to generate revenue to provide residents with adequate services without taxing them so much that they’ll have to leave.

By: Piayon Lassanah

On December 5, 2008, Villa was featured in an article on Business Week’s website. It describes how the Villa has been overcoming the bad state of our economy. below is the article in its entirety, that was written by Steve Hamm of Business Week:

Villa: A Bright Spot in the Retail Gloom
While most retailers are suffering, Villa has held up relatively well, in part because its customers never got hooked on easy credit
By Steve Hamm

It’s late morning in the Villa store on Penn St., the main drag in downtown Reading, Pa., and Alex Rodriguez, a 21-year-old construction worker dressed all in black from his Sox baseball cap to his Nike (NKE) ACG boots, has a huge smile on his face. Rodriguez has just laid down $150 for a pair of Air Jordan Ring 6 basketball shoes—white with shiny black patent leather sides. He’ll add it to the collection of 35 pairs of Air Jordan shoes he keeps on display in his apartment like so many museum pieces. “Some people collect cars. I collect Jordans,” he says.

He also shops frequently at the Villa store in Reading, one of 22 outlets the company operates in neighborhoods of large cities or downtowns of smaller burgs in Pennsylvania, New Jersey, and Delaware. In fact, Rodriguez points out that he purchased every article of clothing he is wearing at Villa.

Fortunately for the chain’s management, there are a lot of shoppers like Rodriguez in Philadelphia, Pittsburgh, and other cities in the Northeast who treat the Villa stores like an all-you-can-eat buffet: They just keep coming back for more. U.S. same-store sales for November fell by 2.7% from last year, according to the International Council of Shopping Center’s index of 37 stores, the largest drop in 39 years. But for now, Villa seems to be shielded from the worst of it. Its sales rose 25% in November, and gross margins rose by a healthy 6%—though the stores that had been open more than a year recorded a sales decline of 8% because of discounting. Despite facing the worst retailing climate in decades, Chief Executive Jason Lutz expects to open four or more stores in the next 12 months and to see his sales stay on an even keel. “We’re not immune to what’s going on in the economy, but we’re positioned well to ride out the roller-coaster,” he says.

The Urban Advantage
Here’s why: Villa’s customers, primarily African Americans and Latinos between the ages of 14 and 30, didn’t get caught in the credit trap. For the most part, they don’t own houses and don’t have credit cards. Only 15% of Villa’s sales come via plastic. Also, most of the customers or their parents work in government jobs or in service industries and are less vulnerable to layoffs than those in banking or manufacturing. The same logic goes for other chains that serve not-so-well-heeled urban folks, including Family Dollar (FDO) and Save-A-Lot.

The chain didn’t start off as an urban fashion mecca. It was launched 19 years ago as Sneaker Villa by Chris and Ruth Lutz, a waitress and a steel worker, in a suburban strip mall outside Reading. Their goal was simply to be able to make enough money to pay for their kids’ educations. After eldest son Jason graduated from college, he saw the opportunity to capitalize on the popularity of hip-hop culture and opened stores in urban neighborhoods. But Lutz didn’t just want to sell sneakers and T-shirts in cities. He wanted his stores to become part of the communities and to help rebuild them.

Over the years the Lutzes have run numerous programs aimed at improving the lives of their customers and their communities, including discounts for high school students who don’t skip school and for people who turn in guns to the police. The stores provide above-market-rate wages, plus health benefits for full-time employees, and they train people from the neighborhoods to be managers. Store managers often act like father figures for their communities, dispensing advice and setting up rap contests. Darren “Big Moe” Walton, a 310-pound former footballer who manages the company’s Philadelphia stores, dreams of being CEO one day. “Hopefully, I’ll sit in Jason’s office and realize the American Dream,” he says.

The help-the-neighborhood ethic is more than altruism. Lutz believes that if he wins the trust of shoppers and helps build up the local economies, it will boost store revenues.

Money to Spend
Villa’s business strategy is far different from that of most fashion and sneaker chains. It pays low rents and faces little competition in urban centers. Yet surprisingly, there’s disposable income in its markets. Within a one-mile radius of a store opened in West Philadephia last summer, for instance, there are 25,000 households with an average annual income of $25,000. Half of the apartments rent for less than $500 a month. So there’s money left over.

There’s something else unusual about Villa: It’s financed not by bank loans but by venture capitalists. VCs including California’s New Cycle Capital and Rosewood Capital bet $17 million on the company two years ago. Thanks to the VC cash, Lutz has ambitious long-term goals. Within five years he hopes to increase the number of stores at least fourfold to between 80 and 100 in Pennsylvania, Ohio, New Jersey, and New York. Revenues last year came in at roughly $27 million, up 25% from the year before.

Even as the company grows, it retains some of the flavor of a family business. Chris and Ruth instilled a strong work ethic. While they no longer have official roles, they stay involved. Both were breaking down cardboard boxes in the stock room of Sneaker Villa’s West Philadelphia store during the grand opening in May.

Four years ago, after taking over as president, Jason incurred the wrath of his parents by expanding too rapidly and suffering a cash crunch. In May 2005 he was running out of funding options. The Seattle venture capital firm Maveron had turned down his plea for money, but he flew west to make one last pitch. Maveron shot him down again. Yet the day was a turning point. Maveron partner Ben Black was struck by Sneaker Villa’s blend of social mission and ambitious business goals. Black decided he couldn’t let Lutz fail. He tapped his own savings to help fund Sneaker Villa. “I was the person of last resort,” says Black.

The seemingly rash act ultimately led Black to leave Maveron and create New Cycle Capital with a friend, Josh Becker. They bill their firm as the first U.S. venture outfit focused on profit-making companies with explicit social missions. Eventually, venture investors led by New Cycle Capital acquired about two-thirds of Villa’s equity. They helped Lutz get the business on an even keel after the expansion troubles, in part by bringing in a handful of seasoned executives. Larry Long, a former executive at Modells Sporting Goods, came on as chief financial officer and helped Lutz win back credibility with shoe vendors and financial firms.

Some advocates for the poor criticize Villa for charging high prices for its designer items. “If the stated mission of a business is to help uplift a community, selling expensive items that most residents cannot readily afford seems incongruent to that aim,” says Yvonne Bynoe, a senior fellow at Wake Forest University who studies urban culture. But Villa’s regular customers are quick to voice their support for the company. The stores have a wide range of merchandise at varied price levels, and they see a retailer that’s heavily involved in their communities. “They treat you like family,” says Floyd Brown, a 33-year-old security guard who’s a regular at the branch in Allentown, Pa. The challenge for Villa will be keeping that family feeling strong and the sales flowing in the midst of the worst economic slump in decades.

Here is a link to the actual article: Villa featured in Business Week

The South Street Bridge in Philadelphia is scheduled to close today at 9:30am to begin a two year reconstruction. The reconstruction cost will be to the tune of $67 million dollars and would require an entire demolition of the structure. Usual traffic from the bridge will be diverted towards the Chestnut and Walnut Streets bridges. The bridge was reconstructed in 1922, but due to safety concerns and the collapse of a Minnesota bridge that killed 13 people and injured 143 last year after cars dropped in the river the safety of the bridge has received numerous attentions. Traffic congestions will increase significantly and authorities have urged commuters and visitors to take public transportation or bikes to reduce the overflow of traffic. The bridge closure will means the closure of the Broad Street Expressway exit that serves Center City and West Philly and many nearby businesses are concerned of loss of revenue during the two year term since customers wouldn’t be as much due to the bridge’s closure. SEPTA also changed the route of the 12 bus towards the University Avenue Bridge to drop off passengers between 33rd and 38th streets on Spruce Street.

By: PIAYON LASSANAH

Verizon has been pleading with the Philadelphia City Council over the past few days to approve its proposed 15 year agreement which would allow the company to set up cable television and high speed television services in the region. If approved Verizon would join Comcast as the only cable television service providers. Comcast which most citizens currently believe holds a monopoly in cable service provision wants City Council to properly analyze Verizon’s plan without a hasty approval. Comcast argued that in its agreement they had to allocate $10 million in free cable and internet service to the city and laid out a detailed plan on when and where services will be provided with fines penalties if the goal wasn’t met. Verizon however maintains that the proposed agreement includes $11.3 million in grants but due to competition they wouldn’t list the neighborhoods which service will be targeted at initially for fear that Comcast may begin offering discounts, promotions and multi-year contracts in those areas which will limit their profit potential but may disclose its plan in private to city officials so they’ll know that they aren’t targeting wealthier customers. Verizon plans on providing about one-third of the city with FIOS service within three years and the entire city within seven years with West Philadelphia, Germantown, Chestnut Hill, and Southeast Philadelphia being part of its first phase while the Far Northeast, Mayfair, Roxborough and Eastwick will be in the second phase.

Most citizens welcome the competition and believe it will drive down costs since Comcast has been the only major service provider for years with its only competition being the more expensive satellite television services. Verizon FIOS television service is believed to be of better picture quality then the regular cable service since it transmits stations through its fiber-optics (FIOS) network which also allows more television channels, high definition programming and on Demand services then cable television which mostly use the less effective coaxial cable for transmission. If the agreement is indeed approved and Verizon offers reasonable prices Comcast might lose a lot of customers especially since FIOS come with the well-sought NFL Network channel which prompted most to switch to satellite television since it broadcasts NFL Thursday night games not shown on the regular cable channels.

By: PIAYON LASSANAH

On Monday, the National Bureau of Economic Research of officially declared that the United States economy has been in a recession since last December and some economists are predicting that this period of downturn will extend into the year 2010 which will set a record for the length of a recession since World War II and is expected to be more painful than previous recessions. The announcement confirmed the fears of many citizens who expect worse to come and have been more judicious in their spending habits. The announcement however came only two days after the national Black Friday sales and would have meant less spending for some individuals who are more pessimistic about the state of the economy but economists have been urging more consumer spending which is supposed to help boost the market out of its current slump. Hours after the announcements shares in numerous stocks fell greatly and the stock market experienced its lowest fall in months just after five successive days of rises. For most the only bright spot in the current recession is gas prices which are currently under $2.00 a gallon for regular and have provided consumers with some flexibility in their spending habits as a result of the fall in oil prices. It is believed that an average of 120,000 jobs a month have been lost this year through October and analysts expect the current unemployment rate to rise from 6.5% in October to about 8% next year. The government however is optimistic of being able to turn the economy around and most lawmakers have been pushing for additional stimulus plans to help boost the economy.

By: PIAYON LASSANAH

Shooting attacks broke out in India on Wednesday November 26 in two luxury Hotels with regular foreign visitors and a Jewish Community Center which left about 121 people dead and 370 injured after almost 36 hours of shooting in the Indian commercial district. The terrorist are still holding residents and visitors of the two hotels, the Taj Mahal Palace and the Oberoi Trident complex and the Jewish Community Center hostage. Indian police commando’s who were deployed are trying to reduce the number of casualties and have been able to free over 200 hostages being held by the terrorists in the Oberoi Trident Complex. The commandos were seen on top on the hotel buildings and engaging in combats through the windows of nearby buildings in an attempt to save the hostages and are in the final stages of the rescue as the Oberoi trident has been cleared with final plans being made to rescue remaining hostages being held by about two terrorist in the Taj and several others at the Jewish Center. The terrorists are believed to have come from sea and had planned the attacks over several months as they had established control rooms in both hotels to execute their plan. It is still unclear which terror group is responsible for the attacks but a group name Deccan Mujahedeen have declared responsibility. It is also reported that three U.S citizens were among the injured, a British, Japanese, Italian, and two Australian citizens reported dead and a total of 22 foreigners being injured as of Thursday as a result of this unfortunate situation.

By: PIAYON LASSANAH

Popular social networking site Facebook, won a lawsuit totaling $873 million against a Canadian spammer, who used illegal phishing to gain accesses into different user’s account and spread spamming messages to other users. The culprit, Adam Guerbuez of Montreal who also runs Atlantis Blue Capital and Ballervision.com, was charged with sending over 4 million spamming messages of sexually explicit advertising messages for “penis enlargements” and similarly associated products. Facebook however is unsure of its ability to collect the full amount in the ruling from Mr. Guerbuez but hopes that the ruling will serve as deterrence to other spammers and illegal users of the site and help to promote a healthier online networking experience for its customers. As a result of the ruling Mr. Guerbuez will be banned from accessing Facebook as the social networking business attempt to retrieve its money.

By: PIAYON LASSANAH

The federal government in another bailout attempt as a result of the nations troubling financial economy, decided to financially assist Citigroup by guaranteeing the financial institution up to $306 million for bad mortgages and assets in an attempt to stabilize the stock price of the company which dropped by over 60% as a result of buyer’s uncertainty in the financial stability of the institution. The federal government also provided an additional $20 billion dollars to be used by Citigroup for its financial operations. The plan to rescue Citigroup was imminent for most as the failure of a financial institution of such magnitude with many operations globally would have been disastrous for the American and global economy as a whole. The urgency in implementing the rescue plan was also important to reduce further loses due to low stock prices as a result of individuals selling their stocks due to the uncertainty about the Bank’s financial well-being. Citigroup share as of Friday sold at about $3.77 cents, a drop from the initial trading price of about $38.00 earlier in the year. The effects of the rescue plan were evident in foreign markets as trading for the Bank’s share rose by almost 41% in Germany. The plan however is not the result of government just shedding out cash to the institution but rather the federal government will receive $27 billion of preferred shares with an 8% dividend pay rate to the treasury department and an agreement to follow the Federal Deposit Insurance Corporation established mortgage modification program.

By: PIAYON LASSANAH

Members of congress were unable to advance automakers request for a bailout in the wake of the financial decline of U.S automakers as a result of the current economic conditions. Officials indicate the inability of Detroit’s Big three General motors, Chrysler and Ford to provide detail convincing reports to show congress how crucial the bailout has become to the American economy and their actual plans on using the proposed $25 billion figure led to congress decision on postponing the request until December 2nd when congress returns from Thanksgiving break. Congress desire for accountability is evident as most individuals blame top executives in these corporations for their current situation and think throwing money at them would be only a short term solution to a recurring problem. Automakers have been trying to sell the severity of the situation to congress by indicating the number of job losses such a crisis would cause and how important the proposed $25 billion dollar is to the American. It still remains to be seen the different turns this story will bring as most automakers fear the worse if a bailout agreement can’t be reached and look towards job cuts etc.

By: Piayon Lassanah

On Monday night Sgt Timothy Simpson a 20 year old veteran died at the Temple University Hospital after being involved in a car crash while responding to a robbery when his police cruiser was slammed into by William Foster who was being pursued by police officers in a different case. Foster a 41 year old convicted criminal was being chased for running a red light and driving dangerously when he hit Sgt Simpson at the intersection of Aramingo and Allegheny Avenue in the Port Richmond neighborhood of Philadelphia. Officer Simpson left behind his wife and three kids and has a brother who is also in the police force. The death of Officer Simpson raises the total number of officers who lost their lives on duty to five in shortly over a year, Officer Chuck Cassidy, Sgt Stephen Liczbinski, Officer Isabel Nazario and Officer Patrick Macdonald all lost their lives in the line of duty. What angers most citizens and Police Officials is why a dangerous individual as Foster was on the streets after several encounters with the law including Philadelphia New Jersey and Bucks county police departments and several crimes were drug-related, burglary, theft, assault, criminal trespassing etc. His most recent crime was on November 5th for shoplifting in Bucks County and would have constituted a violation and a reason to be jailed after being sentenced to 17 years on probation by a judge in 2007 but it is still unclear why Foster was never apprehended and sentenced. The city and the Police Force mourn the death of another dedicated officer who risked his life to serve and protect us.

By: Piayon Lassanah

Philadelphia’s “Good’s for Guns Exchange” program on Saturday achieved some positive results as a total of 353 firearms ranging from handguns, pistols, hunting rifles, shotguns among others were taken off the streets of Philadelphia. The program which exchanges handguns for a $100 girt certificate to Shoprite Supermarket was launched over two years ago by State Representative Chaka Fattah and is believed to have collected over two thousand firearms from individuals in the city. On Saturday the program was held by Sate Senator Vincent Hughes and some citizens swapped handguns at the St Barbara Catholic Church on the 5300 block of Lebanon Street in West Philadelphia. The program’s goal is to reduce the violence and murders caused by firearms in the city and promote the overall safety of individuals in the city. The program’s “no questions asked” policy keeps information on the firearms confidential as the firearms are collected by the police and cross-referenced in police databases to determine if they were used in a crime or reported stolen and if the database checks are clean the firearms are then melted. The “no questions asked” policy and the $100 dollar gift certificate are incentives for many individuals who wants to get rid of firearms in their possession.

The program is also popular across the country in several areas, with plans already being set in Akron, Ohio for the thanksgiving break on November 21 and 22 for individuals to turn in guns and receive $100 Acme gift cards for their Thanksgiving meals and other celebrations.

By: Piayon Lassanah

A 42-year old American patient who had been diagnosed with aids for over ten years is reported healed after a bone marrow transplant by German doctor Geno Hutter. The patient whose name is currently being withheld for privacy reasons was undergoing a bone marrow transplant to cure his blood disease Leukemia and was apparently given transplanted blood stem cells from another person who’s resistant to the disease. Dr Hutter intentionally placed the resistant bone marrow from a donor with natural genetic mutation which makes blood cells immune to HIV in the American patient and after 600 days without HIV medication and in continued tests the patient still show no signs of the HIV virus. The effectiveness of the treatment requires a patient to find a donor who has a similar tissue match and has the uncommon genetic mutation for immunity to the HIV virus and this would put pressure on most people who wouldn’t be able to afford such a treatment or find an individual with a similar tissue match. The revelation however maintains the path for further exploration and gives hope that a realistic cure for the disease may be developed to help save the lives of millions worldwide currently infected with the virus.

By: Piayon Lassanah

Circuit City the second largest electronics retailer in the United States filed for bankruptcy on Monday. The bankruptcy move could have been anticipated as stock prices traded relatively low and circuit city had announced the closure of some stores and the reduction of about 17 percent of its
workforce. Circuit city filed under the Chapter 11 code of bankruptcy which would allow the government to protect it from creditors while giving it some time to reorganize and possibly settling its debt on a future date. Shares for circuit city remained below a dollar value and the current low level of
consumer spending is not improving the situation as the company has fewer funds to work with and the current share value sits between 10 and 15 cents.

Circuit city’s creditors are numerous and the amounts in debts are huge with Hewlett-Packard leading the pack at 119 million dollars, followed by Samsung with 116 million dollars. Circuit city still plan on keeping about 566 stores open while it reorganizes and tries to get rid of some merchandise and
employees. It is still surprising to many how a famous national retailer like circuit city would go bankrupt all of a sudden as it owns about 700 stores and 40,000 employees and is definitely the first in the retailer chain to fall so abruptly even though its main competitors Wal-Mart and Best Buy have also made considerable loses as a result of the terrible state of the economy. The irony of the situation however is that the company now becomes attractive to numerous consumers as they figure to have huge sales and discounts especially during the black Friday shopping extravaganza

By: Piayon Lassanah

President Obama has offered few individuals’ top positions in his transition cabinet for change as he assembled his staff to assist him begin serving the country while others politicians’ especially top democrats hope to be offered a desired position sometime soon. Some top officials currently already named to the new cabinet includes Mr. Rahm Emmanuel as Chief of Staff, Mr. David Axelrod as Senior Advisor to the President, Mr. David Podesta, Peete Rouse, Mrs. Valerie Jarrett as Transition Co-chairs and Robert Gibbs as Press Secretary. Mr. Rahm Emmanuel was among the earliest Barack selected and is believed to have a high level of understanding for issues and is a good negotiator which would be needed in reaching possible compromises. Mr. David Axelrod served the as the chief strategist to the Obama campaign and will now be the senior adviser to the new President. MR. Podesta, Rouse and Mrs. Jarrett who were all named as co-chair also have immense experience in politics and are believed to be well prepared to serve the positions.

Concurrently many other high profile democrat politicians are hoping to secure a position with the president-elect cabinet. Some notable names include John Kerry who is believed to be in the run for Secretary of State. Mr. Tom Daschle is being linked to Health Care but is currently facing opposition from Howard Dean who happens to be a doctor also. Obama faces another important task of selecting individuals on his the staff as this will go a long way to determine his success in office.

By: Piayon Lassanah

The impact of Wall Street’s financial turmoil on American cities has become more evident as in less than a week both Mayor Michael Nutter of Philadelphia and Michael Bloomberg of New York announced budget cuts aimed at slashing deficits facing both cities.

Mayor Michael Nutter announced yesterday in a budget address his plan to reduce the city’s current budget deficit. Mayor Nutter’s plan included the proposed closure of about 68 swimming pools, the closure of 11 library branches, the laying-off of 200 city workers and elimination of 600 vacancies, freezing the current business and wage tax for the next five years, the removal of small residential streets from
snow plowing routes etc. The plan which is scheduled to begin on January 1st 2009 according to Nutter includes a ten percent pay cut in his $186,000 salary and other pay cuts of some top officials within his cabinet. The mayor also plan on introducing a proposal to the Treasury Department to include Philadelphia and other cities in the fiscal bailout plan and working with President-elect Barack Obama to secure federal funds for cities with infrastructure costs as Philadelphia current budget deficit is estimated at $850 million.

On Wednesday mayor Bloomberg announced his plan to reduce the city’s budget gap of 303 dollars this year and 3.7 billion dollars next year. The mayor’s plan includes the proposed reduction of about 3,000 city jobs partly through the lay-off of about 500 city workers, a 7 percent tax property tax increase, the cancellation of Police classes for new cadet officers in January, reduction in fire academy hours and
overnight personnel, the elimination of 320 seasonal park jobs and 187 sanitation street cleaning jobs etc. The budget cuts by both mayors drew mixed responses as many believed they are needed even though most people would be upset by such program and personnel reductions. The tight nature of Philadelphia’s budget due to untouchable established expenditures like pensions, salaries and benefits contributed to the difficulty in coming up with such budget cuts for example as the Mayors faced a daunting task of deciding which programs to cut.

By: Piayon Lassanah

After several months of anticipation and for the first time in history an African American was elected President of the United States. President Barack Obama in a convincing victory over Senator McCain won 349 of the required 270 electoral college vote and 52% of the popular votes while senator McCain won a mere 147 and picked up 42% of the popular votes. President Obama picked up a few republican strongholds and battle states like Virginia, Ohio, New Hampshire and Iowa which was anticipated before the elections and swept other democratic strongholds like Pennsylvania, California and New York convincingly.

Polling stations in the area opened as early as 6:00am in New Jersey and 7:00am in Pennsylvania and Delaware. The voting process went smoothly with very few long lines in the early morning but as the afternoon came so did the crowd at some polling stations. Many voters seemed excited in the Philadelphia and Delaware county area and there were relatively few issues. When polls closed at 8:00 pm many voters stayed glued to their television sets waiting for the official announcement. President Obama sprung to an early lead which he maintained and built upon up till about 11:00 pm when it was announced on CNN that he had officially won the election and the pandemonium began as several excited supporters took to the streets and screamed “Yes We Can” “Yes We Did” all night long. College students in the city joined local residents in a march to city hall where the excitement continued as several people wearing or waving Obama paraphernalia screamed in excitement with some even hanging out of vehicles. The crowd enjoyed the historic celebration and managed to stay safe as there weren’t any visibly Police arrests or destruction to public property by citizens as was evident in the Phillies World Series parade last week and the cops did a great job in maintaining safety and clearing up traffic by blocking off several sections of Broad Street which was filled with pedestrians and redirecting traffic to other less busy connecting streets. Thanks to all those who took part in History by voting and your voices were heard.

By: Piayon Lassanah

Americans have indicated their current disapproval of vice presidential candidate Sarah Palin as majority feels she is responsible for Senator McCain current decline in popularity among voters. Information from CNN Research Corporations Opinion Survey proves most level of support for senator McCain is declining as a result of his running mate Sarah Palin who most believe is not qualified or lacks knowledge on many of the issues surrounding this election. Poll results from likely voters prove 57% believes Palin does not have the personal qualities of a president and this represents an eight percent increase since September of this year. Also 53% of individuals had indicated their support for Palin over Joe Biden in a separate vote for vice president but the current polls shows Biden would defeat Palin by about 12 percentage points if separate elections were held for vice-presidents. Also according to the polls 53% of likely voters believe McCain would continue Bush policies as indicated by Barack Obama, while 45 percent believed otherwise.

Sarah Palin’s low level of approval has come as a surprised since she initially had a high approval after the announcement of her as vice President candidate but many negative press revelations has contributed to her current low appeal including a $150,000 clothes expenditure by the Republican campaign for the Alaskan Governor, her daughters teenage pregnancy which most believe was due to Palin’s inability to control her household and reports that she won the vice presidency candidate nomination by Washington lobbyist influence. McCain’s overall decline in support as a result of Sarah Palin’s nomination is difficult to measure since she was partly responsible for his popularity due to her initial appeal.

By: Piayon Lassanah

After further investigations police officials have charged Hunter Smith and Joe Fischer in connection with the life-sized effigy of Senator Obama which was found hanging outside of the University of Kentucky’s mining and mineral building. The charges include burglary, disorderly conduct and theft. An effigy is described as a crude representation of a person disliked as a form of ridicule and for such an image of Obama to be hanging from a tree at a major University is very disappointing knowing what it represents and the situation caused serious racial tension on the University’s campus and across the nation. The school officials had alerted the Secret Service after the life-sized Effigy was discovered by a professor riding his bicycle to class on Tuesday morning around 7:30am. Joe Fischer who is 22 years old attends the University of Kentucky while his partner in crime Hunter Bush previously attended Bluegrass Community and Technical College and both individuals had asked members of a fraternity for items to make the effigy but never informed them on why it was needed.

Effigies of political candidates are becoming common especially around this Halloween period as one of Senator McCain and his running mate Sarah Palin where found outside of a California home. The situation is often embarrassing as these candidates are being depicted in a crude and disrespectful manner. In the last weekend before the election, lets make the right decision and stay away from all this nonsense.

By: Piayon Lassanah

Former Detroit Mayor Kwame Kilpatrick began his 120 days sentence on Tuesday October 28th 2008, after being convicted for obstruction of justice and pleading no contest to assault on a Sheriff’s officer. Ex-mayor Kilpatrick was taken to Wayne County jail in Detroit where he will begin the four months sentence. Kilpatrick’s conviction was as a result of an affair with his former classmate and Chief of Staff Christine Beatty in which he lied about their sexual affair as both individuals were married at the time but text messages obtained in the case proved opposite and Kilpatrick had also lied in a civil suit brought forward by police officers who claimed he illegally demoted them. Kilpatrick was also ordered to pay restitution of $ 1Million to the City of Detroit and serve 5 years of probation but the ex-mayor has only came up with a $20,000 figure as down payment and had to sign a revocation of his Law license. Council President Ken Cockrel Jr. was promoted to mayor on interim basis with plans being held for a special election in May to fill the rest of ex-mayor Kilpatrick’s term. The revelation of Kilpatrick and Beatty scandal stems partially from an incident in which Beatty and Kilpatrick were responsible for the wrongful termination of Deputy Police Chief Gary Brown and after Mr. Brown sued both Beatty and Kilpatrick denied involvement in his termination but investigations through text messages revealed their involvement in Brown’s termination and their extra-marital affair. Copies of the textual exchange between both parties have been made public and can be seen at http://media.freep.com/documents/stefani042908/index.htm but discretion is advised as some may find the language used offensive.

By: Piayon Lassanah

As November 4th draws near with polls indicating an Obama victory, some Republicans have taken it upon themselves to slander the Senator from Illinois in any way possible in an attempt to sway votes to the Republican side. An Email sent out to 7500 Jewish voters by Pennsylvania Republicans compared voting for Senator Obama to starting another holocaust. The email which was apparently paid for by Pennsylvania Republican party “Victory 2008” committee linked voting for Obama to the events which led to the holocaust when stating “Jewish Americans cannot afford to make the wrong decision on Tuesday, November 4th, 2008…..Many of our ancestors ignored the warning signs in the 1930s and 1940s and made a tragic mistake. Let’s not make a similar one this year”. The email also accused Senator Obama of teaching Acorn members to participate in “Voter Registration Fraud” and associating him with William Ayers, a terrorist who “thought the terrorist didn’t do enough on 9/11. The email is believed to have been signed by prominent republican leaders of the state including the former State Supreme Court justice Sandra Schultz Newman. Republican leaders immediately dismissed the Email claiming that it was offensive and inaccurate and Mr. Bryan Rudnick who was identified as responsible for the letter was terminated from his position. Mr. Rudnick however stated “I had authorization from party officials to send the email…. [And] I’m not looking to draw anyone else through the mud, so I’m not naming names right now”. The email seems to be another failed attempt to
destroy senator Obama’s image which continues to backfire on Republicans and putting them in a negative spotlight.

By: Piayon Lassanah

The Organization of Petroleum Exporting Countries (OPEC) announced in an emergency meeting in Austria that it will reduce its production output by about 1.5 million barrels per day after heavy slides in the price of crude oil. Crude oil which is used in the production of gasoline was at a record high price of $147.2 a barrel in July but has currently slid by about 55% in the 3 month period due to the current global financial crisis which has meant a lower demand for crude oil. The lower demand and continual production output which leads to the continual decline in value of crude oil sparked OPEC leaders to cut production in an attempt to stabilize prices and have crude oil at a favorable value to these producing countries. OPEC is made up of Indonesia, Saudi Arabia, Algeria, Angola, Kuwait, Libya, Nigeria, Qatar, Venezuela,
Ecuador, Iran, Iraq, and the United Arab Emirates but Indonesia plans on leaving at the end of 2008. The organization is often labeled a cartel since they control majority of the world’s petroleum production and are able to influence prices but the current cut in production is with the hope that gas prices might rise and not continue to fall as rapidly as in previous weeks as OPEC leaders have threatened of another cut in December if prices don’t improve.

By: Piayon Lassanah

Pennsylvania is an important battleground state in the upcoming election and current polls are predicting a democratic victory for Senator Obama. Pennsylvania has 21 Electoral College votes which will be crucial to both candidates effort in attaining the 270 required for the American presidency. The usually democratic state is becoming more crucial to senator McCain campaign as polls indicate he is close to losing several traditional Republican states and capturing Pennsylvania would offset his loses in those particular Republican states like Iowa, Colorado, and New Mexico which has a combined total of 21 electoral college votes. Both candidates understand the importance of Pennsylvania and have been campaigning heavily with Senator Obama securing assistance from the Clintons who command lots of support in the state and also the major democratic political figures like Governor Rendell, Philadelphia’s Mayor Nutter, Chaka Fattah, John Murtha etc. McCain, whose fourth visit to the state in two week was yesterday, has campaigned heavily in central and western Pennsylvania which possesses a large Republican base. Recent polls however show Senator Obama with a double digit lead in Pennsylvania and with previous democratic candidates John Kerry and Al Gore narrowly winning the state and less than two weeks to elections McCain might be facing a dilemma. Please remember to vote on Election Day as this is a crucial election for the state as a whole since we hold a huge influence in determining the next president of the United States.

By:Piayon Lassanah

As if the momentum from last week’s debate victory was not enough, another blow was dealt to Senator McCain campaign chances yesterday as prominent Republican and former Secretary of State Colin Powell made the announcement that he endorses Barack Obama for President. Powell reasoning was as a result of Senator Obama “ability to inspire, because of the inclusive nature of his campaign, because he is reaching out across all America [and] because of who he is”. The former Secretary of State commended Senator Obama on NBC’s “Meet the Press” and stated “I think he is a transformative figure, he is a new generation coming onto world state, onto American Stage and for that reason I’ll be voting for Sen. Barack Obama”.

Former Secretary Powell also expressed his disappointment with the current state of his Republican Party in the statement “I’m also troubled by, not what senator McCain says, but what members of the party say….such things as well u know that Mr. Obama is a Muslim..Well the correct Answer is, He’s not a Muslim, he’s a Christian, he has always been a Christian. But the really right answer is “what if he is? Is there something wrong with being a Muslim in this country? The answer is ‘No’, that’s not America.” Senator McCain however expressed that he and the Former Secretary of State are “long-timed friends” and “this isn’t a surprise” while Colin Powell explained “it isn’t easy to disappoint senator McCain in the way that I have this morning and I regret that”.

By: Piayon Lassanah

In the final presidential debate held on Wednesday night presidential candidates Barack Obama and John McCain continued their effort to convince the American public why each will make a better president. Time conflict with the Phillies and Dodgers Baseball National League Championship Series might have led to less viewership in comparison to the second one as it drew 29 million viewers which was a 12 percent drop. The debate however continued with McCain usual aggressive but ineffective approach as he attacked senator Obama on several issues including taxes and Obama calm and unmoved nature.

The highlight of the night for most perhaps was McCain’s questioning of Barack’s tax plan which proposes a tax on individuals earning more than $250,000 annually. McCain used Joe Wurzelbacher of Holland, Ohio, who through a discussion with senator Obama in Ohio had expressed his desire to purchase a small plumbing business but feared being taxed under Obama’s proposal since he might be in a new tax bracket. Senator McCain in trying to reach “Joe the plumber” explained Joe, I want to tell you, I will not only help you buy that business that you worked your whole life for and I will keep your taxes low and I will provide available and affordable health care for you and your employees,” but Obama responded saying he had explained to Joe that majority of small businesses don’t make over $250,000 and tax breaks were also another remedy for small businesses. Ironically Joe Wurzelbacher is not even a licensed plumber in the state of Ohio, might be republican since he voted in their primary election in March, and owes over $1,000 in taxes according to recent reports.

CNN poll results showed 58% of watchers thought Obama performed best as opposed to 31% who believed opposite. Obama seemed more capable of handling taxes and health care according to 56% and 62% of watchers respectively as opposed to McCain’s 41 and 31%. Overall the polls suggested that Obama’s favorable opinion rose from 63% to 66% as opposed to McCain’s decline from 51% to 49%.

By: Piayon Lassanah

Yesterday in an Atlanta Court the children of Dr. Martin Luther King squared off against each other over documents of their late mother Coretta Scott King. The court battle is allegedly over a book deal with the New York printing group Penguin Press which has already threatened to end the deal if they can’t have access to the documents. Dr. King’s three children, Rev. Bernice King, Martin Luther King III, and Dexter King are involved in the suit and Dexter who happens to be the head of the family estate is requiring access to the documents of his mother which happens to be in his sister Rev.
Bernice’s possession but she claims that their mother wanted no part of the $1.4 million book deal. The superior court judge presiding over the case Ural Glanville postponed a decision even though being well aware of the penguin group alleged deadline and Dexter King attorneys feared that other siblings might try to delay a ruling in attempt to intentionally miss the deadline. Dexter King also announced that this feud among others as a result of power struggle has broken their relationships and communication is currently done between attorneys. In a statement issued Rev. Bernice King and Martin Luther King III indicated that this is not a regular family feud but an “ongoing attempt to protect and maintain the integrity of our mothers legacy; although she is no longer hear to speak for herself it is important that the integrity and validity of her voice be protected”. We wish the family the best and hope they can settle their differences amicably.

By: Piayon Lassanah

Congress is currently considering a $150 billion dollars economic stimulus plan with the hope that it will increase consumer spending and help small businesses get back on their feet. The proposal is being initiated by Nancy Pelosi a Democratic speaker of the House of Representative and is seen to be of benefit to average citizens by increasing spending on public works, increasing food stamps programs and unemployment benefits and it is unclear whether congress will be called into session to vote on the proposal before the November 4th elections. The 150 billion dollar stimulus plan if initiated would be the second of its kind after tax rebate stimulus checks were given to citizens earlier in the year to boost consumer spending and help businesses cope with the difficult economic times.

As a result of the low consumer spending resulting in less funds available to businesses to carry out their daily operations , most companies and employers have begun downsizing by eliminating certain equipments , supplies or jobs in an attempt to balance their books and continue to make profits. The stimulus proposal is being heavily backed by most democrats in congress who believe it is important since it gives assistance to middle class families and average citizens which was done for financial institutions in the 750 billion dollar bailout bill passed recently. The bill also provides for poor families by establishing more food stamps programs and tax reliefs for others.

By: Piayon Lassanah

Trading on Wall Street continues to take a hit as many investors are withdrawing their money out of the stock market in favor of more secured investments and this is also affecting global markets. Stock markets across the world are experiencing a loss in revenues as resulting from fear generated sell-offs by investors who believe we are heading for a global recession since credit markets remain frozen and most efforts by global policy makers have generated little success. London’s stock exchange the FTSE 100 fell by 5.4%, the German Dax lost 7.9% and the CAC-40 of France fell by 6.1% as the Dow Jones, NASDAQ, and SP 500 of the United States fell to 7.3%, 7% and 5.4% respectively. Asian markets also took a hit with Japan’s Nikkei, Hong Kong’ Hang Sang, South Korea’s kopsi, and Singapore’s straits were down 10%, 8%, 7%, and 7% respectively. With many nations having to bail out banks Britain offered its banks an 848 billion bailout to unfreeze credit markets and have the economy running again and believes most countries should follow their lead in an effort to avoid a global recession.

- Piayon

Chalk up another victory for Democratic presidential candidate Barack Obama according to polls from the second presidential debate held in Nashville Tennessee. The debate was held in a town-hall format where audience members asked candidates questions mostly relating to the state of the economy. Senator Obama continued his approach of avoiding jabs and trying to properly address the issues which seemed like a direct opposite to senator McCain’s jabs with a little desire to discuss the economy approach. Senator Obama avoided returning jabs and confidently addressed issues and
this was a smart strategy since most believed he has a better understanding of the economy than his opponent who supported George Bush who many believe didn’t do enough to prevent our economic crisis. The highlight of McCain unsuccessful jabs was in his speech on Energy which he claimed was “loaded with goodies, billions for the oil companies” and asked rhetorically “You know who voted for it? You might never know. That one,” while pointing at Senator Obama which seemed childish and inappropriate to most since he referred to his co-senator as “that one”. McCain also proposed buying up bad home loans and stated “I would order the secretary of the Treasury to immediately buy
up the bad home loan mortgages in America and renegotiate at the new value of those homes.” while adding “until we stabilize home values in America, we’re never going to start turning around and creating jobs and fixing our economy.” This seemed highly unpopular since most are already tired of
the recent “quick fix” and bail out approach of government which have provided little results and pose a huge burden on taxpayers.

In a poll conducted by CNN, 54 percent of people believed Obama did better as opposed to the 30 percent who thought McCain did better and 57 percent thought Obama was more intelligent as opposed to the 25 percent who believed McCain was more intelligent. Sixty-three percent also
thought McCain spent time attacking his opponent as opposed to the 17 percent who said Obama did and most importantly, 54 percent of independent voters believed Obama won the debate while 28 percent said McCain won. And there you have it “Men Lie, Women Lie, Numbers Don’t” Congratulations Obama.

—-Piayon