Senate to Add Incentive to Proposed “Stimulus Plan”
January 29, 2008
(Long Island, N.Y.) The Senate Finance Committee Chairman Max Baucus released an arrangement made by the Senate to further improve the incentives that were originally proposed by House Leaders and the White House. Included in the new proposal is in extending rebate to Senior Citizens raising the benefits for those unemployed.
In a statement yesterday, Baucus D-Mont says “My proposal will give America’s seniors the same rebate as any wage earner; The White House says we mustn’t slow the economic stimulus agreement down, or blow it up. I agree. We’re going to improve it and get it passed right away.”
In show of support fellow Senator Majority Leader Harry Reid a Democrat from Nevada said “I strongly support Chairman Baucus’ efforts to garner bipartisan support to improve the House agreement, and I intend to take legislation to the floor as quickly as possible to strengthen the economy,”
In his state of the Union Address on Monday, President George W. Bush encouraged the Senate and lawmakers to speed up the process and for them not to over-do it by loading too much into the bill. “That would delay it or derail it, and neither option is acceptable” the president said. “This is a good agreement that will keep our economy growing and our people working.”
According to the terms of the new package proposed by the Senate, States that has less than a 6% unemployment rate will have a 13 week extension of payments for those whose benefits have run-out while for States that have over 6% of its population currently unemployed a higher 26 week extension is given. Also set to receive a bonus are Senior Citizens both who currently pay and those who do pay taxes. “This is a package in sync with the House bill but stronger and broader,” said Sen. Charles E. Schumer, D-N.Y. “We hope and expect it will get bipartisan support.”
QTRAX Hits Snag Before Launching
January 29, 2008
(Long Island, N.Y.) New York based company QTRAX, a new online site aimed in allowing users to legally download free music on the internet through Peer to Peer (P2P) music services made possible by ad-sponsors, had problems just hours after it was announced to be launched at MIDEM, the biggest get-together in the Music Industry Worldwide, in France after Warner Music declared that the company behind QTRAX have not secured a licensing agreement with them.
Immediately following Warner Music’s announcement, EMI Group PLC, Universal Music Group and BMG Music entertainment which forms the so called “Big Four” in the US music industry confirmed that QTRAX had not made any deals with them as well. In an earlier statement, QTRAX claimed that they have already secured arrangements with the aforementioned companies and that a deal was already in place. They also claimed to have over 26,000,000 songs ready to be downloaded legally by using the newest version of Microsoft Windows Media player and is said to be in the process of making these files Ipod Friendly as well.
Qtrax’s president and chief executive Allan Klepfisz says in a short statement that they have already reached deals with the other record labels and music production companies except the Big Four and also acknowledged that a deal with BMG Music, Emi Group, UMC and Warner Music is already in place though the contract is yet to be signed. “With everybody else, we have agreed on all terms, “We are finalizing agreements with the major record labels here at MIDEM. We chose MIDEM to launch so that we could do it with the full awareness of the key players in the music industry,” he emphasized.
The Beta software version of QTRAX for Microsoft was supposed to be launched by midnight of January 28, 2008 while the BETA version for MAC was scheduled to be released on March 8th, 2008. Due to the problems with the recording labels, downloading from the site is currently disabled.
Spears Friend and Manager Reveals Psychiatrist Visit
January 28, 2008
(Long Island, N.Y.) Britney Spears friend and manager Sam Lutfi made a call to Barbara Walters to inform her that the singer/actress has been to a psychiatrist to help her get through some “mental issues” that she has been struggling with the past year.
Walters said in her daytime talk show “The View”, which airs on ABC, that Sam confided in her when he revealed “She has been having mood swings. She’s been having trouble sleeping, and she is in touch with her mother — ’cause we had heard she wasn’t — and her mother has been very supportive of whatever it is that Britney is going to do”. Walters also added that Lutfi stated that Spears has been to a psychiatrist and that she is starting some kind of treatment.
Spears have become the nations leading gossip initiator starting with her divorce from second husband Kevin Federline in 2006. After that divorce, she lost both custody and visitation rights to her children after a judge ruled her incapable of raising her own children. She also has frequented rehabilitation centers for various drug and alcohol addictions. On numerous occasions, Spears has been caught by paparazzi wearing no undergarments and these photos have made headline news across the World.
According to a recent survey among different media outlets across the country, Spears was the number one most profitable celebrity for last year. Francois Navarre, founder of the paparazzi agency X17 said “Britney is the most bankable celebrity out there right now, and she has been for the past year “During the ambulance incident, traffic doubled every hour” regarding the incident in which Britney had a standoff with the Fire and Police department when she lost custody for her children.
Sarah Ivens an editor for OK! Magazine which dedicated a 10-person team in Los Angeles for a Spears Alert as they call it says “An editor’s dream is to have a real life soap opera unraveling in front of you, and Britney provides that every week”
With all these recent problems, Spears has regained her mother’s confidence and the two have been showing support through tough times. Spears and her mother had a public feud through the media years ago when Spears was a dominating Pop star and she had totally neglected her family in return.
After Great Comeback Wall Street Expects Capricious Week
January 28, 2008
(Long Island, N.Y.) Last week started slowly for Wall Street, the Dow Jones Industrial was losing points at the triple digit mark while the NASDAQ index and the Standard and Poor 500 composites saw declines. Then came some positive news from the White House about the “Stimulus Plan“ along with some great quarterly reports coming in from giants like Microsoft and the tables quickly turned propelling the market into a 2 day rally that conclusively netted a positive week for the US economy. Expect much of the same unsettledness in the world markets this week.
Wall Street expects a more positive outlook entering this week but is not necessarily convinced of it. A big part of this optimism hinges deeply on the approval of the “stimulus plan” from the Senate. If the senate gives its nod this week it could be a crucial turning point for Wall Street, one that could make or break the week. Another factor would be the result of the Federal Reserves meeting which will commence on January 29th-30th. If plans go through, the Fed will probably announce an additional cut in interest rates again which could further help our economy.
On the opposite side of the spectrum, these moves could easily create a negative impact that could pave the way for Recession. Experts also conclude that our economy needs sustenance after these strategic ploys are implemented to continue growth. Alan Gayle who is the senior investment strategist and director of asset allocation for Trusco Capital Management says “If their expectations are met, they quickly ask, what’s next?”
Anthony Conroy who is the managing director of BNY ConvergEx Group said of our economy, “If we’re not at a bottom, we’re probably very close,” He also added that, “Volatility won’t be over for a while,” Conroy said. “These credit issues don’t go away overnight.”
The NASDAQ closed down last week with a gain of 0.59 percent. Standard and Poor 500 index finished the week 0.41 percent higher while the Dow Jones Industrial which struggled on the early part of the week gained 0.89% by week’s end.
Chief Negotiator to Senate: Pass the Deal Now!
January 28, 2008
(Long Island, N.Y.) Henry Paulson who played an integral part as the chief negotiator of the deal reached by Congress and the White house last week dubbed the “stimulus plan” designed to inject the economy with over $150 Billion to help tax payers and business owners recover from a fledgling economy warned the Senate yesterday to approve the proposal quickly in order to avoid the resentment of an already irritated public.
The White House last week released a plan agreed upon by house leaders to rebate over 117 Million taxpayers of checks amounting from $600-1200 per household and more if dependents where declared; up to $300 per dependent. Also, in the proposal is a $50 Billion incentive to businesses for building new plants and equipments this year. The proposal is already in the Senate for review and a quick resolution was called upon by the public to ensure faster releasing of the said rebates and incentives.
“I don’t think the Senate is going to want to derail that deal,” Treasury Secretary Henry Paulson said. “And I don’t think the American people are going to have much patience for anything that would slow down the process.”
Senate representatives stated that they should not be pressured for quick resolution since they have the Public’s best interest at heart. They are considering some elements of the deal that could help benefit the public much more than the original plan hatched by Congress and the White House. Some of which includes extending unemployment benefits for workers whose benefits have run out, boosting home heating subsidies, raising food stamp benefits and approving money for public works projects.
New York Senator Hilary Rodham Clinton said, “We’ve got to take care of the people who are losing their jobs with more unemployment. We may have to look at food stamps for people who are falling out of the middle class”
In a statement to the Senate’s claim of added benefits, Paulson added that “I believe that what we’ve got here is something that will work and will work quickly and more quickly than some other alternatives,” Paulson said. “And again, once you start considering additions — the food stamps, unemployment insurance and so on — it’s a slippery slope, and there is a real danger that we’re going to bog down and screech to a stop.”
If the deal is approved by the Senate, checks will be issued as early as May and taxpayers could receive checks through the mail by Mid June, which some hope will even be in time to give the economy and the stock market the boost it needs. The announcement of such a plan created an upsurge of positive trading at Wall Street last week.
Djokovic Wins Aussie Open Finals
January 28, 2008
(Long Island, N.Y.) In what was considered as one of the best matches of all time, Novak Djokovic of Serbia and Montenegro won his first GrandSlam event title in the Australian Open against young upstart Jo-Wilfired Tsonga of France with a score of 4-6, 6-4, 6-3, 7-6(2).
Thousands of fans cheering wildly in the stands and Millions at home where treated to a classic match in the finale. The game was an onslaught of power and finesse filled with unparalleled intensity on both sides of the court. Tsonga who started the 2007 season as the World’s 198th ranked player and this year as an unseeded player in the tournament played like an aged warrior in capturing the first set showing no sign of fear and vulnerabilities at the start of the match. He was making tremendous shot’s that were almost reminiscent of the game he had against World number 2 ranked player Rafael Nadal in the semifinal round where he dismantled the Spaniard in a dominating straight set that often left Nadal with his jaw dropped to the floor with Tsonga’s abilities.
The third seeded Djokovic stayed in the game and matched Tsonga’s intensity in the second set setting up a crucial break when Tsonga sent a ball flying wide on a forehand at 30-40 down and 3-all at the set that gave him the lead and the chance to serve the set out which he did to capture his first set win of the match. “I knew that I’m playing against a big server, and I have to wait for my chances, and, you know, he started the match really well. You could see that in the first set. And he was obviously a better player in that first set.” Said Djokovic of Tsonga’s fast start.
As the third set started, Tsonga raised his level up a notch in another battle that commenced but Djokovic was ready for it this time. Using big serves right on the T or wide on the forehand side, Djokovic never allowed Tsonga to challenge his serve games while frequently giving Tsonga a run for his money on his own service game. By the latter stages of the set, Tsonga was obviously weary and his weakness showed when Djokovic broke him again to set up another set-point which he captured with ease.
In the fourth set, Djokovic apeared to start feeling some heat as his right leg started to tighten up. Tsonga immediately attacked his forehand side to capitalize on his opponent’s misfortunes but his own aggressiveness in taking advantage eventually spelled his doom. Without any break of serves, the set went to a thrilling tie-break but with too much aggression on Tsonga’s side to attack the forehand of Djokovic, he made untimely unforced errors that gave the fourth set and the Championship to the Serbian who collapsed in the court after the final point and tears flowed as his jubilation started.
With the support of the Australian crowd clearly on Tsonga’s side, he gallantly accepted defeat and said, “It’s all right,” he told the fans at Rod Laver Arena, his high cheekbones lit up by a mischievous grin. “I still love you guys.”
Heavily Marketed Drug Vytorin Awaits Approval from FDA
January 28, 2008
(Long Island, N.Y.) Merck & Co./Schering-Plough Pharmaceuticals, the sole distributor of the drug Vytorin which claims to lower cholesterol levels at a more effective rate, will have to wait for the final trial results before the FDA will make a decision for the release of the drug to the public.
Vytorin is a combination of ezetimibe, best known as Zetia in the United States and the statin drug simvastatin best known as Zocor in the U.S. and is said to be dramatically more effective than taking regular drugs to reduce the build-up of plaque in the arteries. After months of heavy marketing for Vytorin, experts in the medical field criticized the usefulness of it since early indications have shown that taking the much expensive drug reacts in the same way as taking Zocor or scientifically known as simvastatin alone.
Dr. John Jenkins, director of the FDA’s Office of New Drugs, Center for Drug Evaluation and Research said “We have not yet received a final study report and can’t explain why Vytorin didn’t lead to lesser amounts of plaque compared to patients treated with simvastatin alone, once we receive the final study report, we estimate it will take as long as six months for us to fully evaluate the results of the Enhance study,” he said. “And we will be considering whether any further action is warranted in regard to Zetia or Vytorin, and also whether this study has any impact on our approach to the approval of lipid-lowering drugs.”
An enhanced trial was conducted which resulted in two critical findings. First in a more positive manner, it conclusively reported that by taking Vytorin it reduces cholesterol levels effectively. Secondly and the most damaging to the claims of Merck & Co./Schering-Plough Pharmaceuticals, the study showed that the build-up of plaque, which causes the arteries to clog up, was doubled in patients taking Vytorin rather than Zocor alone.
Dr. Harlan M. Krumholz professor of the Yale University School of Medicine said that “We have enough information from Enhance to say it is not providing much evidence that this drug is delaying the progression of atherosclerosis, it raises uncertainty whether this drug produces benefits for actual patients.” “This [Vytorin] is really a second-line drug,” Krumholz said. “We really should be guided by evidence, not marketing, and the evidence is really strong for statins. If lifestyles aren’t sufficient to lower cholesterol, the next place they should go is statins. Only after those have failed should you go to the next step,” he added, referring to Vytorin.
Obama Wins South Carolina Primary
January 27, 2008
(Long Island, N.Y.) In what some would call a big turn of events, Democratic hopeful Barack Obama has finished ahead of top rival Hilary Rodham Clinton for the South Carolina Primary in a heatedly contested state and secure a crucial win for his bid to the Oval Office.
South Carolina boasts 50% of its voters as African American and Obama won 80% of those votes. He also won 25% of the White population. In a gathering with his supporters, Obama said “The choice in this election is not between regions or religions or genders.” He also added amidst roaring crowds in Columbia that repeatedly interrupted his remarks with cheers. “It’s not about rich versus poor, young versus old, and it is not about black versus white. This election is about the past versus the future.”
Many political experts predict the South Carolina primary as a critical juncture for the Democratic Party and were heavily contested between the top two candidates which included racially charged debates and accusations for both sides. After her loss, Clinton said “I want to tell you how excited I am that the eyes of the country turn to Tennessee and the other states that vote on February 5th” the New York senator told a crowd of several hundred at Tennessee State University. “Millions and millions of Americans will have the chance to have their voices heard and their votes counted.”
Finally showing signs of diplomacy, Hilary Clinton called Obama to congratulate him on his win. Obama finished with 55% of the votes; Clinton was a distant second with 27% while John Edwards secured 18% of the votes, Edwards also vowed to stay in contention for the Democratic Party nomination when he said that he would “give voice to millions of Americans who have absolutely no voice in this democracy.”
Democratic hopefuls take to the road as they campaign in different parts of the nation for the super Tuesday primaries dubbed “The Tuesday of Destiny” which simultaneously holds primaries for 24 different crucial states including Tennessee, Utah, California, Illinois, Idaho, Alabama, Alaska, Arizona, Arkansas, Colorado, Conn, Delaware, Georgia and New York. A landslide win on February 5th almost guarantees the nomination for the Democratic Party candidacy for Presidency.
Birth Control Pills Help Protect Against Cancer
January 25, 2008
(Long Island, N.Y.) In a recent study conducted worldwide, researchers concluded that Birth Control Pills are especially effective in protecting women from Ovarian Cancer even years after they stop taking them. For those who has taken them for more than 15 years, they could be protected up to 30 years from the time they stop taking them.
Ovarian Cancer is a malignant or benign tumor of any histology within an Ovary. Thousands of deaths to women are attributed to Ovarian Cancer and it is the fifth leading cause of death for women worldwide. This startling finding in their research gave optimism to the medical society who works feverously to find a cure for this disease.
Valerie Beral who is the lead author and director for the study says, “Not only does the pill prevent pregnancy, but in the long term, you actually get less cancer.” She also added that “This is the first medication that we know of to cut ovarian cancer risk.” In their study; they had women from all walks of life worldwide enrolled in a program that monitors their progress as they age. They where categorized into two groups, women who takes contraceptive pills and those who does not. The study showed after five years, that 12 women for every 1000 without the pills developed ovarian Cancer while only 8 Women out of 1000 for those who took Birth Control Pills.
“To be able to save thousands of women’s lives every year by using contraceptives is remarkable,” said Dr. Beth Karlan, director of the Women’s Cancer Research Institute at Cedars Sinai in California.
This breakthrough in research studies could save numerable lives worldwide as there has never been a known cure for Ovarian cancer before while the cause is usually unknown as well. Scientist are still searching for answers though for the reasons of the decline in incidents of Ovarian Cancer with pills. “It may have something to do with the hormones in the contraceptives.” said Dr. Debbie Saslow, director of breast and gynecologic cancer at the American Cancer Society. “Hormones such as estrogen can be growth-promoting in some body parts and have the opposite effect in other body parts” she said.
Stimulus Plan Means Rebates by May
January 25, 2008
(Long Island, N.Y.) In an effort to encourage the public into spending more and in return help increase revenues for businesses, The White House and Congress came up with a deal called the ‘Stimulus Package’ that could pump $150 Billion to a heavily torn economy and could help the U.S. stave off its first Recession since 2001.
Under the agreement, tax rebates will be issued to those people who filed their taxes consistently. The rebates could range from $600 to $1200 with a small bonus for those who filed taxes with a family dependent. Individuals will be given a $600 check; Couples who both work and file their taxes will be issued a $1200 check while those couples with Children will be given an extra $300 per child. The rebates could be issued by May and received through the mail by June for those who qualify and would be timely for families to spend during the spring season to help a fledging business community and increase revenue. Many claim the congress and the President need to move faster to get the bill signed with reports that it could reach the Presidents’ desk by February 15th, if not stalled by further changes.
President George W. Bush said in a statement, “This package will lead to higher consumer spending and increased business investment,” Also discussed and should be tackled in this package is in extending benefits for those people who’s benefits have run out due to unemployment. “I do not understand, and cannot accept, the resistance of President Bush and Republican leaders to including an extension of unemployment benefits for those who are without work through no fault of their own,” said Committee on Ways and Means Chairman Charles Rangel.
Rivaling Democratic and Republican Party’s both came through in forging this deal leaving any animosity behind in the hopes of saving our economy. California Democrat Pelosi said “I can’t say that I’m totally pleased with the package, but I do know that it will help stimulate the economy. But if it does not, then there will be more to come.” while Ohio representative Boehner said “You know, many Americans believe that Washington is broken” the Ohio Republican said. “But I think this agreement and I hope that this agreement will show the American people that we can fix it.”
Immediately after the deal was announced, a great breakthrough in the stock market proved that the government could be doing the right thing in reviving a struggling economy as Wall Street bounced back to record heavy gains in a 2-day stretch never been seen since the early part of the month and a clear indication in the minds of the experts and analyst that we are heading into a positive direction.
