New York Knicks Lose to Toronto Raptors
February 25, 2008
(Long Island, N.Y.) The Toronto Raptors exacted revenge over the New York Knicks after a humiliating loss at Madison Square Garden two days ago with a win tonight in blowout fashion at home in Air Canada Center in Toronto with a final score of 112-92.
The game was tight for the first two quarters with Toronto leading only by a single point at halftime at 53-52. All-star forward Chris Bosh of the Raptors was hampered by foul troubles early in the first quarter which limited his playing time with only 8 minutes before halftime. After the break, the Raptors used a blistering 18-3 run which blasted the game wide open. Jose Calderon ignited the run by converting 2 straight 3 point shots followed by consecutive 3 point attempts from Anthony Parker and Andrea Bargnani before Chris Bosh capped off the amazing run with a authoritative slam dunk to effectively put away the game against the Knicks.
Last year’s top draft pick Andrea Bargnani led Toronto’s attack with 25 points, 5 assist and 7 rebounds as the Italian silenced his critiques with his improving play of late. Chris Bosh provided ample support for Bargnani finishing with 17 points on top of 5 rebounds and three assist while recently acquired center Primoz Brezec which was obtained last week from the Detroit Pistons contributed 11 points and 3 rebounds in 12 minutes of playing time in his debut with the Raptors.
Jamal Crawford led the Knicks offensive with 26 points, 6 assists and 2 rebounds but conceded 2 turnovers. Starting Center Eddy Curry who was a topic of much trade speculations before the NBA trading deadline passed last February 19 finished with 12 points and 5 rebounds. Nate Robinson also finished with respectable numbers in tallying 20 points and 8 rebounds.
The New York Knicks hope to bounce back at home on Wednesday after a two day break against the Charlotte Bobcats while the Toronto Raptors expect to keep its momentum with a win opposite The Indiana Pacers tomorrow night on a back end of a back-to-back schedule.
FDA Approves Avastin as Breast Cancer Drug
February 25, 2008
(Long Island, N.Y.) The Food and Drug Administration Bureau shocked experts in the medical field last Friday when it released clearance for the drug Avastin made by Genetech as a breast cancer treatment after an advisory panel of the bureau made recommendations to the opposite.
Last year, specialists convened to determine the effectiveness of Avastin as a breast cancer treatment for the FDA. Although results did show minimal slowing in growth of the tumors by using Avastin, the drug failed to improve patient condition or to diminish the cancerous tumor entirely. Subsequently they voted 5 to 4 against the approval of Genetech’s request and provided the results of their study to the FDA with their recommendation.
“All they had was progression-free survival in one trial, no increase in quality of life and patient deaths in the Avastin group,” said Fran Visco, President of National Breast Cancer Coalition. “We’re very confused why the FDA made this decision.”
Health experts fear that the decision made by the FDA to approve Avastin with very little proof of affectivity could set as precedence for other pharmaceutical companies with similar products to push for approval by the bureau thereby lowering the standards of breast cancer treatment in the market from the initial object of complete recovery to merely survival.
“If the FDA sets a precedent of approving a drug based on progression free survival, people are afraid they may stop looking at survival as the most important endpoint,” said Dr. Kay Dickersin, director of the Center for Clinical Trials at Johns Hopkins University.
Meanwhile, the Breast Cancer Organization was optimistic of Avastin’s approval for breast cancer treatment as a new option for patients. “The benefits we’re looking at here matter because they give patients hope,” said Margaret C. Kirk, the group’s chief executive. “Without disease progression they may survive to see a discovery that can help them.”
Troubled Star Britney Spears Granted Visitation Rights to Children
February 23, 2008
(Long Island, N.Y.) Britney Spears who lost custody to her two sons Sean Preston, 2, and Jayden James, 1, a couple of months ago after a California judge determined the Pop star as “unfit to raise her own children” was granted visitation rights yesterday as ex-husband Kevin Federline agreed to modify the earlier court ruling in favor of Spears.
Spears gained tremendous popularity worldwide as a marvelous rising pop star when she released her first album entitled “Baby one more time” in 1999 which sold over 9 million copies worldwide and debuted at the top spot in the billboards 100 hit list. In the year 2000, Britney released her second album “Oops I did it again” which broke numerable music industry records including highest first week sales with 1,319,193 copies sold in its opening week. Subsequently she released her self titled third album in 2001 and her fourth record called “In the Zone” in 2003 although with lesser success than the first two.
A month ago, the 26 year old star was hospitalized in UCLA Medical Center in their psychiatric institution after it was determined that she was a physical threat even to herself. A conservatory right which is granted to people who can’t handle their own matters for reasons beyond their control was granted to her parents. Two weeks after she was admitted, a psychiatrist intimated positive developments in Spears mental state and was subsequently released to her parents care.
Elliot Mintz, spokesperson for both Kevin Federline and his lawyer Mark Vincent Kaplan released a statement praising the efforts of Spears parents, James and Lynn Spears, as the vital cog which convinced Federline in agreeing to the new terms. He also admitted that with her parent’s guidance, Spears is well on her way to recovery. “James Spears went a long way in terms of stabilizing an environment that surrounded Britney which was wildly in flux,” Mintz said. “It’s clear Britney is in a different place now than she was a week or two ago.”
Wall Street Closes Week on High Note
February 23, 2008
(Long Island, N.Y.) Wall Street closed Friday with impressive gains to upend a volatile week and preserve nervous optimism among investors with numerous newsworthy reports expected to be filed by fortune 500 companies and economic numbers handed out by the Department of Commerce and the Fed.
The Dow Jones staged a remarkable comeback after being down 140 points by mid-afternoon DJI reversed its fortunes by gaining over 225 points in the last hour of trading after CNBC announced that bothered bond insurer Ambac Financial Group Inc. have released a plan to rescue the troubled company. Dow Jones ended the day gaining 96.72 points or a 0.79% increase from previous day trading to end with 12381.02 points for the week. NASDAQ also made a modest rally to rise 3.57 points and end with 2303.35 points while Standard and Poor 500 increased 10.58 points and concluded the week with 1353.11 points.
Jim Herrick, manager of equity trading at Baird & Co.said of Ambac’s rumor “There’s probably some validity to the rumors with the overall financial crunch we’ve experienced, this brings new confidence in the sector.”
News of a bailout plan to save Ambac Financials reached Wall Street late in the day’s trading which proved to be crucial as it injected higher optimism among investors to stay active in the market. The proposed plan was hatched by a consortium of banks such as Citigroup Inc., UBS AG, Wachovia Corp. and Royal Bank of Scotland Group PLC and with the participation of New York State Insurance Department. Their goal is to infuse cash into the company which would allow Ambac financials to retain its “AAA” rating which is essential in receiving new businesses.
“We continue to be engaged in and fully supportive of the bond insurers’ ongoing efforts to resolve their current problems,” said Andrew Mais, director of public affairs at the New York State Insurance Department. “As insurance regulators, it is our responsibility to protect policyholders and ensure a healthy, competitive market for insurance products. We are encouraged by any developments that further these goals in this important market.”
Obama, Clinton Face Off In Texas
February 22, 2008
(Long Island, N.Y.) The Democratic Party candidates Barrack Obama and Hilary Rodham Clinton faced off in Texas in a political debate which many experts predict the most crucial stage for Clinton’s campaign for the White House.
Clinton threw jabs with Obama’s highly publicized plagiarism charges in a speaking engagement before Wisconsin held their own primary last week. In his speech, the IL Senator was quoted as saying “Don’t tell me words don’t matter, ‘I have a dream’ — just words? ‘We hold these truths to be self-evident, that all men are created equal’ — just words? ‘We have nothing to fear but fear itself’ — just words? Just speeches?”
This words where eerily similar to the one Mass. Gov. Deval Patrick made last election. Deval, a close friend of Obama addressed a crowd of supporters in 2004 said, “‘We hold these truths to be self-evident, that all men are created equal’ — just words? Just words?” Patrick said. “‘We have nothing to fear but fear itself’ — just words? ‘Ask not what your country can do for you, ask what you can do for your country.’ Just words? ‘I have a dream’ — just words?”
Clinton’s remark “Changes you can xerox” regarding Sen. Obama’s mantra drew loud boos from the crowd. While Obama showed grace when saying, “What we shouldn’t be spending time doing is tearing each other down. We should be spending time lifting the country up.” which prompted the bi-partisan crowd to cheer wildly.
Political analysts described Clinton’s accusations and campaign as “desperate” and “reeling” amidst Obama winning 11 straight primaries and caucuses including Wisconsin and Hawaii last Tuesday.
Vital issues both candidates debated are the recurring illegal immigration problem in Texas. Both candidates agree that a more high tech surveillance is required to combat this problem. They disagreed on the current political struggles in Cuba after Fidel Castro tendered his resignation. Clinton wants no part in new Cuban President Raul Castro until he introduces new political reforms while Obama was open to a discussion. Another issue tackled was health care which a key factor for both of their campaigns.
The two candidates where fierce yet subtle in some moments as they sat facing each other in a swivel chair at the center of University of Texas Auditorium. Clinton was especially unpredictable, criticizing Obama one minute in saying “If your candidacy is going to be about words then they should be your own words,” she said. “…Lifting whole passages from someone else’s speeches is not change you can believe in, it’s change you can Xerox.” Then following it up with a compliment when she said, “No matter what happens in this contest, I am honored to be here with Barack Obama.”
Latest delegation counts have Obama leading with 1,358.5 to Clinton’s 1,264. Both candidates will square off in the next primary in for Texas and Ohio on March 4.
EU and US Joins Forces to Crackdown on Fake Computer Components
February 22, 2008
(Long Island, N.Y.) Encouraged by their recent success both the E.U. customs officers and its counterpart in the US agreed to be more belligerent in cracking down counterfeit computer components entering both countries through multiple channels which is a vital necessity for companies distributing such products.
“Traffickers and counterfeiters have become much more sophisticated,” U.S. Customs and Border Protection Assistant Commissioner Daniel Baldwin said. “They are no longer confining themselves to trafficking in some of the traditional goods we used to see them in, such as footwear or handbags. We’ve identified a pretty significant problem, a fairly high risk for critical infrastructure. There will be criminal investigations.”
In a two week stretch bridging November and early December last year, both agencies were able to confiscate more than 360,000 fake goods posed as genuine products for over 40 different brands in an procedure tagged as “Operation Infrastructure”. Most of the confiscated items came from China, a country considered to be a hub of counterfeit goods.
In a released statement, US customs recognized the operation as an important step for maintaining integrity to the business industry and is vital for healthcare and communications. “The counterfeiting of networking hardware and integrated circuits has critical infrastructure, national security and health and safety implications,” the statement read.
During the operation, operatives seized computer components such as integrated circuits, resistors, capacitors and amplifiers valued at over $1.3 Billion. Recovered counterfeit goods also had fake seals and trademarks by companies like Cisco, Intel, Philips Electronics and Asus.
“The success of Operation Infrastructure clearly demonstrates our commitment to jointly working with our European counterparts to stop the international flow of illicit goods and protect our consumers and businesses from these harmful products,” added Dan Baldwin.
Pentagon Destroys Unexploited Satellite
February 22, 2008
(Long Island, N.Y.) The Pentagon announced yesterday a “probable” direct hit on a broken down spy satellite with sophisticated secret imaging capabilities which carried 1000 lbs. of frozen toxic propellant off the orbit of the earth and successfully eliminated threats of Toxic hydrazine hitting populated areas in the world.
The Spy-satellite was launched on December of 2006 but ceased functioning immediately after its first orbit off the earth prompting Pentagon to consider shooting it down as an alternative before it becomes a biochemical threat to the earth. Pentagon lost its ability to control it after the satellite’s Central Computer failed. The satellite weighs over 5,000 lbs and carries 1,000 lbs. of hydrazine which is used as a propellant. NASA researchers expected the Satellite to hit Earth’s atmosphere early next month which gives the military very little window of opportunity to score a direct hit.
Late Wednesday night, Pentagon initiated the operation by launching a Navy missile which carried no warhead from ballistic missile defense cruiser USS Lake Erie at the Pacific Ocean west of Hawaii at exactly 10:26 PM. After the missile was launched off the naval ship, a visible fireball followed by a vapor cloud appeared which the military believed to be a confirmation that they made direct contact with the rogue spy satellite.
“We have a high degree of confidence we got the tank, We acted upon our fist opportunity to hit the satellite before expected bad weather turns out hampering our operations. Thus far, we see nothing larger than a football,” said Marine Gen. James Cartwright in a Pentagon briefing yesterday indicating the size of scattered debris they have detected after the impact.
Pentagon insiders cited numerous reasons for the Military to shoot down the spy satellite such as displaying its missile defense capability and the fact that Pentagon hardly wants the satellite to fall on enemy territory. “The spy agency doesn’t want some part of the satellite to fall into the wrong hands” says Philip Coyle, a former assistant secretary of defense. He also added, “we can shoot down a satellite in a test without creating a lot of debris like they did.” referring to China’s botched missile launch to destroy similar satellite for their country which created great amounts of dangerous space garbage.
Wall Street Starts to Absorb Losses
February 22, 2008
(Long Island, N.Y.) Wall Street opened trading today sluggishly as investors awaited economic reports due next week from the Department of Labor and other agencies. The Dow Jones lost 60.57 points which is 0.49 percent lower when the day started. The NASDAQ absorbed a 18.73 point decline while the Standard and Poor 500 also lost 7.65 points to settle at 1334.88 points.
Yesterday, the Dow Jones Industrial lost over 140 points as investors pulled back on trading after the Federal Reserve Bank of Philadelphia announced a weak reading on regional manufacturing. Another concern that led to a lethargic trading yesterday was the news that Wall Street’s Conference Board’s monthly index of leading economic indicator dropped.
The Fed released a statement on their monthly manufacturing index which clearly reads recession. For the month of February, Philadelphia Fed said that its business activity index dropped to negative 24.0 adding to the losses incurred on January which had a negative 21.0 reading and on the last two months of 2007. “This is clearly pointing to an economy that is in recession,” said Eric Green, economist at Countrywide Financial in Calabasas, California.
Pierre Ellis, a senior economist at Decision Economics in New York added, “Four monthly declines in a row ordinarily is taken as an indicator of a manufacturing recession,”
Experts acknowledged today the importance of the reports set to be released next week on existing home sales and durable goods which are key barometers for economic struggles or growth as a crucial point in predicting the pace at which the market either expands or decreases. An opinion evidenced in today’s trading, as investors are hesitant to buy stocks amidst concerns for a disastrous report which led to early day trading losses. Investors see little optimism in current economic trend even after drastic measures were made by Feds and White House to revive our economy. Instead, most are concerned of inflation on the horizon, a sentiment voiced by many.
“I find it funny that people who didn’t think there was any inflation in the pipeline are now talking about stagflation,” said Barry Ritholtz, CEO director of equity research for Fusion IQ. “This is nothing like the 1970’s, which was a pretty dismal period and not just because of polyester and disco.”
Celebrity Babies: Big Hit for Magazine Covers
February 21, 2008
(Long Island, N.Y.) Magazine covers are spilled with cuddly photographs of celebrity moms with their celeb-children or images of about-to-be celebrity moms lately as magazine editors put a premium in capturing Hollywood star’s during and after their pregnancies to usurp the demand of the gossiping public.
Sarah Ivens, editor in chief of OK! Magazine had this to say for the ongoing celebrity trend, “Part of the reason that the demand is so huge — and everyone is so excited about it — is because it’s such a nice antidote to all the other celebrity news that’s going on at the moment, there’s nothing not to love about watching these woman blossom and their bodies change and then having babies. It’s all just such fun, lovely, positive stuff, isn’t it?”
Expectant Hollywood personalities or parents make bundles of cash in signing contracts with high-end magazine companies to award sole distributing rights for images of their babies and on some cases, their pregnancy.
Currently, Jennifer Lopez who and husband Marc Anthony who are pregnant with twins are in serious discussions with People and OK! magazine in a reported $6 Million deal that would grant both publications lone distributorship for images of J.Lo and her babies. Under the agreement, People and OK! mag can also take photographs of Lopez during her pregnancy and as she gives birth.
In 2006, UN spokeswoman Angelina Jolie and husband Brad Pitt allowed sole ownership of images to their child Shiloh to People Magazine after the publishing company conceded over $4 Million dollars in donation to the UN and other charitable institutions in behalf of the couple.
Other celebrities known to have made similar deals to Magazine covers are Christina Aguilera and her son for $1.5 million, pregnant teen sensation Jamie Lynn Spears for $1 million, Julia Roberts and Halle Barry. The motivation for celebrities to sign on contracts with magazine companies does not lie solely on making money but in protecting their privacy as well. By agreeing to give their consent to a single publication sole access in their private lives, they also eliminate the risk of paparazzi attacks as images of them taken by other entities outside of the publishing company which signed them violates publication laws.
FDA to Probe for New Flu Vaccine
February 21, 2008
(Long Island, N.Y.) The Food and Drug Administration have called on a panel of flu specialists all over the country for their annual meeting in an effort to keep pace with the ever dynamic influenza virus by forecasting which strain of the deadly virus will likely strike next winter and allow scientists to develop new vaccines against the disease ahead of time.
This year, the FDA made a wrong prediction of which strains would attack which resulted with researchers concocting a vaccine with only a 40% success rate among patients with influenza in the US. The Bureau hopes to avoid that same mistake for next winter which is the reason for the earlier than usual assembly. The most damaging type of strain currently affecting Americans nationwide is the Brisbane /10 detected only after the vaccines were made last year.
Dr. Nancy Cox, CDC’s flu director said, “We didn’t have enough information to know that this was going to be a serious player, we thought we were going to have a pretty mild season until a few weeks ago.”
Influenza Virus has many variations but the most troublesome to humans is Influenza Virus A which has been classified by scientists as the type with the most potent pathogens for humans and causes the most brutal disease. It is further classified from the viral surface proteins it posses as hemagglutinin (HA or H) and neuraminidase (NA or N). Currently there are 16 identified subtypes of H while nine N subtypes of influenza A virus have been identified. Early in the 20th century, Influenza virus killed over 40 million people when a pandemic called “Spanish Flu” hit majority of the populated cities worldwide.
“Influenza viruses are changing all the time. We’re trying to have a window which allows us enough time to manufacture a vaccine. We can’t just turn on a dime,” said Dr. Norman Baylor, FDA’s chief of vaccine review.
