Former O.C. Star Mischa Barton Charged with DUI
February 27, 2008
(Long Island, N.Y.) Actress Mischa Barton who became famous while portraying a young socialite named Marissa Cooper in the hit TV series The O.C. was charged with misdemeanor counts and possession of an illegal substance after a traffic stop last December 27th, 2007 which yielded drugs and high alcohol levels for the actress.
According to E! news, Barton is facing one count of driving under the influence of alcohol or drugs. She was also charged with a count for driving while having a blood-alcohol level of 0.08 percent or higher, possession of over 28 grams of marijuana and driving without a license. On Jan. 10th, 2008, Barton acknowledged her mistakes and called a radio show to express her apology to the public in saying, “I was pulled over… just that. Obviously, I’m 100% responsible for my actions in this case and I’m really disappointed in myself… I don’t know what to say about it, except that I’m not perfect and I just don’t ever intend to do something this stupid again.”
“We are pleased that the District Attorney’s Office has very carefully reviewed all the evidence in Ms. Barton’s matter and has chosen to file only misdemeanor charges against her,” said Barton’s attorney, Anthony Salerno in a statement. He also added, “The D.A.’s Office is to be commended for treating this case the same as it would any other matter; Ms. Barton has received no special treatment, and they have done the same diligent review that they do in every case. As previously stated, Ms. Barton has taken full responsibility for any mistakes in judgment that she may have made. We will, of course, conduct a full review of all evidence received from the D.A.’s Office before making any final decisions on the resolution of the legal issues, but we are confident that this matter will be handled by both sides in a professional and respectful manner.”
Born Mischa Anne Marsden Barton in Hammersmith, London on January 24th, 1986, the 22 year old actress started her Hollywood career at the tender age of 9 co-starring in an Off Broadway premiere of Slavs. She also appeared in the soap opera ‘All My Children’ in 1996 portraying the role of young Lily Montgomery.
Study Findings: Antibiotics Overused
February 27, 2008
(Long Island, N.Y.) A recent study conducted by Hebrew Senior Life Institute for Aging Research in Boston which is affiliated with Harvard University suggests that doctors prescribed antibiotics more frequently than often required especially to aging patients with terminal diseases such as dementia and other brain disease.
The study was conducted by enrolling exactly 200 senior citizen patients with advanced stages of dementia. The respondents where observed for more than 18 months and within that time-frame, almost half of the subjects succumbed to death barely recognizing their loved ones. Nearing death, they also lost the ability to speak and the strength to walk on their own accord.
“Advanced dementia is a terminal illness,” said study co-author Dr. Susan Mitchell, a senior scientist with the Hebrew Senior Life Institute for Aging. “If we substituted ‘end-stage cancer’ for ‘advanced dementia,’ I don’t think people would have any problem understanding this. They were at what anyone would consider the very final stage,”
After carefully reviewing medical records of the subjects, researchers determined that over 42% of the respondents where given intravenous antibiotics two weeks before they died and an increase in dosage was evident as the patient nears death. Too much antibiotics could cause increased chances of contracting “superbugs” which are resistant to antibiotics and sometimes fatal to elderly patients prompting calls from the medical community for moderate use of antibiotics for all age group patients.
Doctors are crossed in opinions with regards to the usage of antibiotics. “Until that decision is made that death is imminent, there’s always hope,” said Dr. Eric Tangalos, a geriatrician at Mayo Clinic in Rochester, Minnesota, who was not involved in the study. “People do recover from those infections.”
Meanwhile, other medical experts have a broader logic on the subject, “You might rescue the patient from life-threatening pneumonia and they live a few days, weeks or even months longer,” said Bruce Jennings, a bioethicist with the Hastings Center, a research institute on medical ethics. “But the extra time you have bought them by that rescue is not beneficial.” in referring to the extremely low and difficult quality of life for patients with terminal cases experience.
Wall Street Continues Momentum Tuesday
February 27, 2008
(Long Island, N.Y.) Despite meteoric oil price increases in the New York Mercantile Exchange, Wall Street prevented losses after a slow start in the day’s trading to sustain its three day momentum and keep optimism high in the market in spite of recession and inflation threats to the US economy.
The Dow Jones Industrial gained 114.70 points for a 0.91 percent change from previous day trading to end with 12684.92 points. Broader indexes and composites NASDAQ and Standard & Poor 500 remained unchanged in points for the day.
Wall Street’s increase was fueled by IBM’s announcement of a proposed $15 Billion stock buyback which gave hope to investors and proved that some companies still possess the ability to spend heavily despite a savage torn market. IBM’s news was a fresh injection of optimistic help after negative economic figures trickled down Wall Street from the Labor Department of a higher than expected core wholesale prices in the US and the waning confidence of consumer to spend.
“The market is kind of overcoming negative news, which is potentially a next step toward higher prices,” said Ryan Detrick, senior technical strategist at Schaeffer’s Investment Research. “At least in the short-term, it’s a nice change here.”
Other key factors which negated the negative effects of Labor Department’s announcement came from retailers such as Target Inc. which announced a higher than expected fourth quarter profits. Rite Aid also expressed a jump in its quarterly report as its shares per stock rose 17 cents, or 6.5 percent, to $2.78. Another company on an upswing is RadioShack Corp. which had a better fourth quarter earnings report than predicted earlier by market experts.
At the New York Mercantile Exchange, Oil Prices recorded a new all-time high as it concluded the day trading at $101.70 a barrel which surpasses the record set earlier this month at $100.10 a barrel which was the first time Oil Prices finished a day above the $100 mark.
EA Bids $2 Billion on Take-two
February 27, 2008
(Long Island, N.Y.) Take-two Inc. which owns the hugely popular video game franchise Grand Theft Auto and all its variations received a $2 Billion buy-out offer from Video Game industry giant Electronics Art Inc.
Take-two Chief executive Ben Feder described EA’s offer as “the wrong price at the wrong time,” after his company’s stock jumped on Monday but intimated his openness to discuss any deals of a buyout with EA Inc. after Take-two releases the newest edition of its best-selling game Grand Theft Auto on April 30, 2008.
News of the buyout offer from EA Inc. sent Take-two Interactive Software Inc. stocks soaring with an impressive 55 cent a share increase yesterday from $26.34 to a close of $26.89. Experts agree that the offer from EA Inc. to takeover Take-Two stems from recent talks between Activision Inc. and rival company Blizzard Entertainment of a possible merger which would pose a big threat to EA’s domination in the Video Gaming industry.
Video game industry experts and Wall Street Analysts agree that EA Inc. holds the leverage in this deal as they have the luxury of transforming this transaction into a hostile bid or to play the waiting game and swoop in when the Take-two Inc. takes a price hit.
EA Inc. CEO John Riccitiello said in a press conference, “There can be no certainty that in the future EA or any other buyer would pay the premium we are proposing today, we believe our proposal is fully priced,” he said. “Grand Theft Auto IV should by now be essentially complete; the buyout bid would not jeopardize the development of this incredibly important title.”
Grand Theft Auto IV is slated for release on April 29, 2008. It is the newest installment of Take-two’s most popular video game which has sold over 65 Million copies worldwide. First introduced as Grand Theft Auto in 1997 the game was widely accepted worldwide which prompted the company to create subsequent controversial prequels such as Grand Theft Auto 2 on 1999, Grand Theft Auto 3 in Oct. of 2001, Grand Theft Auto: Vice City, Grand Theft Auto: San Andreas and Grand Theft Auto Advance.
Guilty Verdict for 5 Former CEO’s in AIG Scheme
February 27, 2008
(Long Island, N.Y.) After seven days of deliberation by a jury in Hartford Connecticut, five former insurance company CEO’s where found guilty and convicted of conspiracy, mail fraud, securities fraud and making false statements to the Securities and Exchange Commission which could carry a penalty of up to 230 years in prison and over $46 million in fines.
The Five defendants are Ronald Ferguson a former General Re CEO, Ex-General Re vice President Christopher P. Garand, Former General Re Chief Financial Officer Elizabeth Monrad, Robert Graham who previously held the distinction as the vice president and assistant general counsel for General Re and Christian Milton who served as AIG’s vice president of reinsurance from April 1982 to March 2005.
Prosecutors charged the five defendants with conspiracy to create fraud after gaining enough evidence in the case, mostly of which were paperwork from the two companies where authorities now believe the five accused falsified to create a side deal between Gen Re and AIG. Under the agreement, AIG would pay Gen Re a specified amount of cash for Gen Re to take out re-insurance policies together with AIG which would pump up AIG’s stock price and inflating reserves by over $500 million.
“The case sends the message to executives that their decisions will be scrutinized, and these types of offenses aren’t just speeding tickets that you can pay,” prosecutor Paul Pelletier told reporters after the verdict was read.
The defendants remained calm throughout the reading of the verdict and declined to comment after the hearing. Four of the defendants Ferguson, Milton, Graham and Monrad could face jail time of up to 230 years with $46 million in penalty while Christopher Garand faces an incarceration of over 160 years with $29 million in penalty.
“This is a very sad day, not only for Ron Ferguson, but for our criminal justice system,” Clifford Schoenberg, Ferguson’s personal attorney, said in a statement distributed at U.S. District Court in Hartford. “I and the rest of Ron’s legal team will not rest until we see him — and justice — vindicated.”
General Re is one of the world’s biggest reinsurance companies and is a subsidiary of Berkshire Hathaway Corporation which is a holding’s company run by business tycoon Warren Buffet. AIG or American International Group Inc. is one of the major Insurance corporations in America and is one of the components of Dow Jones Industrial at Wall Street. The company is based in New York.
“Pretty Boy” Floyd Mayweather to Wrestle
February 27, 2008
(Long Island, N.Y.) Undefeated six-time World Boxing Council champion Floyd Mayweather Jr. changed gears Monday and announced his intentions in fighting 430 lbs., 7-feet tall wrestler “Big Show” on March 30th as the main event of WWE’s “WrestleMania XXIV” at Citrus Bowl in Orlando Fl. in a press conference it Staples Center in Los Angeles, California.
With a current record of 39-0 peppered with 25 KO’s and the current holder of WBC’s welterweight belt, Floyd Mayweather Jr. sees little challenge ahead of him in the sport of boxing. It was rumored earlier in the year that a possible rematch with Mexico’s boxing legend Oscar De La Hoya sometime in September could take place. Another speculation has Mayweather fighting undefeated Julio Cesar Chavez Jr. who is the son of undefeated boxing icon Julio Chavez in a mega fight later this year.
Mayweather’s March 30th debut in pro-wrestling will net the fighter $20 Million in earnings and a chance to prove himself as the versatile athlete he privately perceives himself to be. “It’s entertainment. You have a chance to just be you and do what you want to do, wrestling takes care of business right on the spot, whatever they say they’re going to do, they do it right on the spot. There’s no waiting three, four, five months. Quick results, quick money. Quick big money, too.” said Mayweather.
In a press conference called by WWE Monday night to introduce both fighters ahead of their March 30th battle, Mayweather Jr. electrified the crowd at Staples Center by throwing thick wads of $100, $50 and $20 bills to the hundreds of supporters who gathered to view the spectacle.
Mayweather’s manager Leonard Ellerbee described the move as part of his camps ongoing efforts to make Mayweather a mainstream athlete among American sports fanatics. Last year, Mayweather Jr. was the fourth celebrity booted out in “Dancing with the Stars”. “It crossed him over and took him into the households of many middle-aged Americans and turned him into a mainstream superstar,” Ellerbee said. “Now when Floyd goes into the grocery store, the first thing 65-year-old ladies say is, “You’re Floyd from Dancing With the Stars.”
Wall Street Advance to Open the Week
February 27, 2008
(Long Island, N.Y.) A nervous Stock Market edged up Monday giving investors optimism to start the week as Wall Street braces for key economic figures coming by the Department of Labor and Commerce. Fueling the upsurge for Wall Street was the Standard & Poor’s affirmation of Ambac Financial Group Inc and MBIA Inc credit ratings.
The Dow Jones Industrial was the biggest winner last Monday as it spiked almost 190 points overnight which is good for a 1.53 percent change from last Friday’s trading to end with 12,570.22 points. Broader stocks indexes NASDAQ and the Standard & Poor 500 also received relief from the market as the NASDAQ composites gained 24.13 points or 1.05 Percent change to settle with 2,327.48 points while the Standard and Poor 500 indexes gathered 18.69 points a 1.38 percent change to end with 1,371.80 points.
On Monday, the S&P also announced its affirmation of credit ratings for troubled bond insurers Ambac Financials and MBIA Inc which gave the market unexpected source of optimism. Traders worried that a downgrade of companies like Ambac Financials credit ratings would lead to billions of dollars in losses as already struggling Banks and Investment firms would be forced to write-down securities. “This is essentially evidence that S&P has signed off any tentative deal,” said Charlie Smith who is the chief investment officer at Fort Pitt Capital Group regarding S&P ratings decision.
Wall Street analysts surmise that to keep losses in the minimum for Bond insurer firms, they need to be kept intact to avoid subsequent outbreak of investors unwilling to take a hit for the company. They also noted that further positive developments for struggling credit companies could help stabilize a volatile market. “Even the smallest bit of positive news and the market takes off, investors get excited if they sense a bottom in the financials because they’ve been the Achilles’ heel of this market.” said Chris Johnson, president of Johnson Research Group.
“Vantage Point” Earns $24 Million in Ticket Sales
February 25, 2008
(Long Island, N.Y.) Movie industry experts indicated that Box-office ticket sales this year have been encouraging despite economic turmoil and the recently concluded Writer’s guild strikeout. Last week’s turnout was no exception; “Vantage Point” topped Box-office sales for the week with over $24 Million in ticket sales by Sunday.
Dennis Quaid leads the cast in the movie as he plays a secret service agent named Thomas Barnes; the film revolves around the plot of a political assassination of the US president played by William Hurt as he was attending a war on terror summit in Spain. Barnes and Kent Taylor are the lead agents assigned to protect President Ashley. Howard Lewis enacted by Forrest Whitaker was an American tourist in Spain and was videotaping the whole event when the incident happened and believes he captured the face of the assassin in his camera and confides his hunch to agent Barnes and Taylor who immediately undertook the burdensome task of unmasking the real fugitive and untangling several eye-popping mysteries in the process.
“Audiences really love it when they get a summer-style popcorn movie at a time of the year when they don’t expect it,” said Paul Dergarabedian, president of box office tracker Media By Numbers. Sony Pictures distributed the movie and distribution department Ronry Bruer illustrated the movie as “fresh with lots of twists and turns. Audiences become very invested in it,”
Last Week’s number one “Jumper” by 20th Century Fox which set a record for highest sales for president’s weekend in gathering over $43.7 Million in its first week amassed another $12.7 million to finish second this week upping its total nationwide two week sales to $56.2 Million. Paramount’s “The Spiderwick Chronicles” came in third with $12.6 Million in sales while “Step Up 2 The Streets” and Warner Bros.’ romantic comedy starring Kate Hudson and Matthew McConaughey “Fool’s Gold” finished fourth and fifth respectively.
Spending, Inflation Reports Vital for Wall Street
February 25, 2008
(Long Island, N.Y.) Wall Street expects a big week coming in as reports out of the Federal Reserve, Department of Commerce and the Labor Department on consumer spending, inflation at manufacturer’s level and home sales numbers are due for release by the middle of the week. These economical figures could distinguish our country sliding into recession or avoiding it.
Market analysts brace for negative numbers as has been the trend in the last two quarterly reports from agencies involved but are nevertheless expectant of a better than expected report due to several concessions made by the government in helping troubled sectors of our economy such as slashing of the interest rates made by the feds last January and the government hatched proposal of a “stimulus package” aimed at helping consumers and small businesses.
By the end of last week, the Dow Jones Industrial gained 0.27 percent from its previous week finish while the Standard and Poor 500 inched up a respectable 0.23 percent. Meanwhile, NASDAQ absorbed a disturbing 0.71 percent loss for the whole week of trading which prompted skepticism among investors to trade.
“Could it fall further? Sure,” said Hans Olsen, chief investment officer in JPMorgan’s private client services and added.“ The Standard and Poor 500 is most vulnerable and has the slight chance of dropping below the 1300 mark which it experienced in a 3-day stretch last January. It is also possible for the stock market to end the year with decent returns, to say we’re hitting a bottom here might be premature.”
Amidst threats of Recession and Inflation, the biggest loser by far has been the housing market. Several factors are involved with the industry’s struggles so far including the high number of properties for sale which triggered a dip of about 1% for the month of January in home sales as with more supply the demand decreases dramatically according to a National Association of Realtors report. Another factor are the struggles in the mortgage industry which are parallel to housing concerns.
Ralph Nader Announces Bid for Presidency
February 25, 2008
(Long Island, N.Y.) Political activist Ralph Nader who will turn 74 years old this Wednesday announced his bid for the Oval Office, his fifth try since he first attempted to run for the Presidency in 1992 as an Independent candidate.
His announcement drew jeers from democrats who blamed him for Al Gore’s defeat in the 2000 elections against Bush and dismissed his candidacy as “delusional”. NY Sen. Hilary Rodham Clinton said “Obviously, it’s not helpful to whomever our Democratic nominee is. But it’s a free country, it’s just his passing fancy being his fifth time.”
Nader appeared in NBC’s meet the press to announce his candidacy this year and relegated most of his jabs to the Democrats in saying, “You take that framework of people feeling locked out, shut out, marginalized, disrespected,” he said. “You go from Iraq, to Palestine/Israel, from Enron to Wall Street, from Katrina to the bungling of the Bush administration, to the complicity of the Democrats in not stopping him on the war, stopping him on the tax cuts.”
Ralph Nader was born on February 27, 1934 in Connecticut; both of his parents were Lebanese immigrants into the US. He graduated from Princeton University in the year 1955 and finished Law School at Harvard in 1958. Nader created the NGO group Public Citizen which currently has over 140,000 members nationwide in 1971 to police government activities. He first ran for US presidency in 1992 and followed that defeat in 1996 and 2000 as the candidate for the reform party. In 2004, he ran as an independent and received only 0.2% of the total votes in the country.
Leading Democratic Party candidate Barrack Obama said of Nader’s latest show, “He thought that there was no difference between Al Gore and George Bush and eight years later I think people realize that Ralph did not know what he was talking about,” While Republican candidate former Arkansas Gov. John McCain welcomed Nader’s candidacy in saying, “I think it would probably pull votes away from the Democrats, not the Republicans.”
