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Luis Miguel Goitizolo

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RE: ARE WE NOW IN THE END TIMES?
5/22/2012 9:36:01 PM

Helium Shortage Is No Laughing Matter

Fears of helium shortage on the rise: Baloons won't float, but the impact on space travel and medicine could be more serious. Why it is vanishing>>





"Choose a job you love and you will not have to work a day in your life" (Confucius)

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Luis Miguel Goitizolo

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RE: ARE WE NOW IN THE END TIMES?
5/24/2012 6:02:17 PM

Facebook IPO: From “In Trouble” to Court

2012 MAY 24
Posted by Stephen Cook

Facebook IPO: From “In Trouble” to Court

Stephen: This whole Facebook IPO is very, very odd. Not even with what is the world’s largest customer base and the world’s most invasive marketing tools has the social networking site been able to fulfill the original public offering price.

The questions keep coming about the concealment of important information by Facebook and the underwriters as shareholders’ losses – which are in the billions – continue to rise. As does their anger and the number of calls they are making to their lawyers…

Facebook, Wall Street Banks Under Fire from Lawmakers and Lawyers

Two US congressional committees said they would conduct preliminary inquiries into Facebook’s IPO, and attorneys filed two separate lawsuits alleging that average investors were misled.

By Jim Puzzanghera and Stuart Pfeifer, Los Angeles Times - May 23, 2012

http://www.latimes.com/business/la-fi-facebook-beseiged-20120524,0,393314,full.story

WASHINGTON — Already grappling with regulatory reviews of its troubled initial public offering, Facebook Inc. and the Wall Street banks that shepherded the deal are now under fire from lawmakers and lawyers.

Two congressional committees said Wednesday that they would conduct preliminary inquiries into the IPO. And attorneys filed two separate lawsuits alleging that average investors were misled in the days before Facebook shares began trading Friday.

“Shareholders suffered billions of dollars in losses,” said Darren Robbins, a partner in the San Diego law firm of Robbins Geller Rudman & Dow, which filed one of the suits. “To have what was perceived as a watershed IPO result in this kind of harm is deeply troubling.”

Facebook has vowed to defend itself vigorously against shareholder suits.

And the Menlo Park, Calif., company reportedly was considering moving its stock listing to the New York Stock Exchange from the Nasdaq Stock Market, whose technical glitches executing trades Friday added to the IPO’s woes.

Facebook shares rose $1 on Wednesday to close at $32, a 3.2% gain. But the shares still were trading well below the IPO price of $38.

A revised revenue forecast issued by Facebook only days before its initial public offering has become a flash point for investors, regulators and lawyers.

Robbins Geller, which recovered $7.2 billion for Enron shareholders in 2008 in the largest-ever class-action settlement, sued on behalf of three Facebook shareholders. It was the most high-profile of at least three suits seeking class-action status filed this week.

The suits alleged that Facebook Chief Executive Mark Zuckerberg and the banks underwriting the IPO concealed crucial information shortly before the social networking company went public.

The Robbins Geller lawsuit, filed in the U.S. District Court in Manhattan, accused the defendants of failing to disclose fully before last Friday’s IPO a revised forecast showing that revenue would not be growing as anticipated because users were moving to mobile devices that can’t display as many ads.

Meanwhile, regulators are examining whether investment banker Morgan Stanley, the lead underwriter, selectively informed clients of an analyst’s negative report about the company before the stock started trading.

The Securities and Exchange Commission and the Financial Industry Regulatory Authority, the self-policing body for the securities industry, said their agencies are looking into the events surrounding the IPO. Rick Ketchum, the head of FINRA, said Tuesday that the question is “a matter of regulatory concern.”

Neither the SEC nor FINRA would provide additional details.

“Until we unwind the facts and circumstances surrounding this situation, it is inappropriate to speculate about what potential violations may have occurred,” a FINRA spokesperson said Wednesday.

The Robbins Geller suit focuses on what it alleged was the failure of the companies to disclose to all investors that Facebook was “experiencing a severe and pronounced reduction in revenue growth due to an increase of users of its Facebook app or website through mobile devices rather than a traditional PC.”

The suit alleges that Facebook had told the lead underwriters of the IPO to reduce their 2012 estimates for the company and that information was “selectively disclosed” to preferred investors and left out of the prospectus and registration statement.

“The notion that the lead underwriters would contemporaneous with a road show and a filing of the registration statement receive information and thereafter materially reduce revenue projections for the very period the IPO occurred is nothing less than shocking,” Robbins said.

“You’re telling one group of folks and giving them access to one thing while people are putting up more than $15 billion worth of cash,” he said. “There’s a reason why you have multiple investigations.”

Facebook spokesman Andrew Noyes said the company would fight the suit. “We believe the lawsuit is without merit and will defend ourselves vigorously,” he said.

A spokesman for Morgan Stanley, which has taken the most heat for the IPO’s problems, declined to comment on the suit.

But the firm addressed the suit’s main issue in a statement Tuesday, saying its procedures complied “with all applicable regulations.”

Morgan Stanley said that after Facebook released a revised securities filing May 9 “providing additional guidance with respect to business trends,” a copy was forwarded to all of the bank’s institutional and retail investors and “was widely publicized in the press at the time.”

Jill Fisch, a law professor at the University of Pennsylvania, said underwriting an IPO and analyzing its stock are supposed to be separate. But there’s no obligation for analysts to share their conclusions with everyone and often provide better information to their favored clients.

“That’s standard operating practice on Wall Street,” she said. “That’s why analysts provide information to the big institutional investors. Those are the preferred customers.”

Plaintiff attorneys may have a difficult time prevailing in the lawsuit, in part because Facebook’s registration statement disclosed that revenues were down because of customers’ increasing use of mobile devices, said Thomas Hall, who is co-head of litigation at the New York law firm Chadbourne & Parke.

“The issue in the case will be: Was that enough or do they have to make more specific disclosures?” Hall said. “It certainly is not on its face what I would call a very strong case.”

The Senate Banking Committee and House Financial Services Committee are both looking into the

Facebook IPO, though neither has started a formal investigation or set hearings, aides said.

“Effective capital markets require transparency and accountability, not one set of rules for insiders and another for the rest of us,” said Sen. Sherrod Brown (D-Ohio), chairman of the Senate Banking subcommittee on financial institutions and consumer protection.

Brown said the SEC “must fully investigate and take appropriate action if it discovers any violations.”

SEC Chairwoman Mary Schapiro said Tuesday that there are issues related to the Facebook IPO that the agency needed to look into.

Senate Banking Committee Chairman Tim Johnson (D-S.D.) said his staff is setting up briefings with Facebook, regulators and other stakeholders.

The House Financial Services Committee staff also is gathering information about Facebook’s IPO, said Marisol Garibay, a committee spokesperson.

"Choose a job you love and you will not have to work a day in your life" (Confucius)

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Luis Miguel Goitizolo

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RE: ARE WE NOW IN THE END TIMES?
5/24/2012 11:16:19 PM

‘Many innocent civilians in Afghanistan killed by US drone strikes’
Tue May 8, 2012 6:20PM GMT

U.S. drone strikes in Afghanistan have killed many innocent civilians and are “highly counterproductive.”

According to research by well-renowned American philosopher James Fetzer, as many as 140 innocent civilians were being killed for every militant targeted in Afghanistan.

“From the point of view of Afghan people, every time an innocent civilian is taken out, about 10 others join the resistance to the American occupation,” Fetzer told Press TV’s U.S. Desk on Tuesday.

Fetzer said, “It is tragic that we are there in the first place because these wars of aggression in Afghanistan and Iraqwere never justified. They were sold to the American people on the basis of lies and false claims.”

The U.S. military has claimed responsibility for an airstrike that killed six innocent members of a family on Friday in southwestern Afghanistan and pledged a formal apology would be forthcoming.

Civilian deaths have been a key source of tension between President Hamid Karzai and U.S.-led forces in Afghanistan. The civilian casualties caused by coalition military operations have drawn angry condemnation from the Afghan public as well.

Also read:

Drone attacks in Pakistan (Wikipedia)

Obama terror drones: CIA tactics in Pakistan include targeting rescuers and funerals

"Choose a job you love and you will not have to work a day in your life" (Confucius)

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Luis Miguel Goitizolo

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RE: ARE WE NOW IN THE END TIMES?
5/25/2012 9:30:26 PM

Canada student protests erupt into political crisis with mass arrests

By Adam Gabbatt, The Guardian
Thursday, May 24, 2012


More than 500 people were arrested in Montreal on Wednesday night as protestors defy controversial new law Bill 78

Protests that began in opposition to tuition fees in Canada have exploded into a political crisis with the mass arrest of hundreds of demonstrators amid a backlash against draconian emergency laws.

More than 500 people were arrested in a demonstration in Montreal on Wednesday night as protesters defied a controversial new law – Bill 78 – that places restrictions on the right to demonstrate. In Quebec City, police arrested 176 people under the provisions of the new law.

Demonstrators have been gathering in Montreal for just over 100 days to oppose tuition increases by the Quebec provincial government. On Tuesday, about 100 people were arrested after organisers say 300,000 people took the streets.

But what began as a protest against university fee increases has expanded to a wider movement to oppose Bill 78, which was rushed through by legislators in Quebec in response to the demonstrations. The bill imposes severe restrictions on protests, making it illegal for protesters to gather without having given police eight hours’ notice and securing a permit.

On Wednesday night, police in Montreal used kettling techniques – officers surrounding groups of protesters and not allowing them in or out of the resulting circle – before conducting a mass arrest.

Police immediately declared Wednesday’s protest illegal, but allowed it to continue for about four hours before surrounding protesters and making arrests.

Martine Desjardins, who represents more than 125,000 students in her role as president of the federation of university students in Quebec, said protesters had been “peaceful” on Wednesday’s march.

“It makes a lot of people angry,” she said. “We fear that tonight, because there will be more demonstrations going on, people will become a bit more violent, because as you saw yesterday, when you are peaceful, you get arrested.”

Police arrested 518 people at the demonstration, the largest number detained in a single night so far. Montreal police constable Daniel Fortier, who told reporters rocks were thrown at police, said most of those arrested would face municipal bylaw infractions for being at an illegal assembly.

“I was so so scared,” said Magdalena, one of those arrested, who asked that her last name not be given. She told the Guardian that she had been taking part in the protests since February, and that Wednesday night’s action had actually seemed particularly peaceful.

“This was one of the most jovial I’ve taken part in,” she said. “We were commenting how in good spirits we were, how everyone seemed in such great energy. There were families, children, women with strollers, which you don’t necessarily see at the night protests as much,” she said.

Protesters were allowed to walk freely and briskly through Montreal, she added, but that changed when they came to certain intersection, the pace of the march slowing dramatically. “We didn’t think anything of it,” Magdalena said. “All of a sudden you just smelled tear gas and could see smoke, and people were running.”

Magdalena said people from the front of the march came running back past her and her friend, who had been strolling with their bicycles. “We turned around and there was already a line of cops behind us. We tried to go on the other side but then there was cops there too.

Police officers then tightened their ring around the “hundreds” of protesters, she said, not allowing anyone in or out. Magdalena said this situation continued for an hour, before everyone in the group was read their rights. After that, it was another “hour or two” before she was detained with plastic handcuffs and led to a city bus. She said they were then kept on the bus for “hours and hours” and were not allowed to go to the toilet. “I have some medical problems, and I wasn’t feeling well. I really needed some water and I needed some sugar, and they were really awful, they said they didn’t care,” she said.

Magdalena said she was eventually charged with being part of an unlawful assembly, and given a ticket for $634, which she said she planned to contest.

Protesters have vowed to continue the nightly protests that began on 14 February when Quebec’s liberal provincial government announced it would introduce tuition fee increases over a five-year period. The Quebec government’s department of education, leisure and sport says fees would go up by $325 (£200) per year for five years from autumn 2012, a total increase of $1,625.

The protests have resulted in a backlash against the Quebec prime minister, Jean Charest, who has refused to back down over the tuition fee increase, and the new law.

Students have been boycotting classes over the past three months, arguing that the increases would lead to an increased dropout rate and more debt.

In response to the protests, the provincial government rushed through Bill 78 on 18 May. As well as the restrictions on protests, it suspends the current academic term and provides for when and how classes are to resume.

Some student organisers said that the introduction of the bill, far from cowing the demonstrations, had actually brought more support for their cause.

‘This draconian law has revolted me’

Mathieu Murphy-Perron, who has been helping to organise demonstrations against tuition fees since last year, saod: “I would say that I’ve seen more individuals come out and say: ‘You know what? I was neutral on the question of tuition fees, but to bring this draconian law has revolted me and I will take to the streets with you.

“There have been more and more people who recognise that Bill 78 is a breach of the right of freedom of speech, freedom of assembly, freedom of association, and they’re not going to have it.”

Some legal experts argue that the bill contravenes Canada’s charter of rights and freedoms. Montreal constitutional lawyer Julius Grey told the Vancouver Sun that Bill 78 was “flagrantly unconstitutional”. Opposition has come from the Quebec Bar Association and the Quebec human rights commission.

In an appearance on NBC’s Saturday Night Live in the US on Saturday night, the Grammy award-winning band Arcade Fire, who come from Montreal, wore symbolic red squares of cloth on their chests during their performance, in support of the protests.

Murphy-Perron said the red-hued, four sided shapes were visible “everywhere you go” in Montreal, adding that they show the “inter-generational aspect of this struggle”.

“You see red squares on buildings, on homes, on children, on teenagers, on students, on bluehairs, you see them everywhere.”

Desjardins said that she and other student representatives will meet with the government next week in Montreal or Quebec City to discuss tuition fees – the fourth meeting since strikes began.

In the meantime the daily marches would continue, she said, adding that protesters were also planning a protest in Ottawa, around 150 miles west of Montreal, on 29 May. Ottawa is in a different province from Montreal, and so safe from the clutches of Bill 78 – introduced only in Quebec.

“It’s something to ridicule the bill,” she said. “If we are restricted to have a demonstration in Montreal, or in the province, we are going to go outside the province, to Ontario, and have a big demonstration there.”

guardian.co.uk © Guardian News and Media 2012

"Choose a job you love and you will not have to work a day in your life" (Confucius)

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Luis Miguel Goitizolo

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RE: ARE WE NOW IN THE END TIMES?
5/25/2012 9:46:03 PM
Please friends don't miss the video in this article, it's so revealing
Tuition Hike Protests in Quebec: Entitlement Mentality or Legitimate Outrage?











For more than 100 days, students in the province of Quebec have been protesting Jean Charest’s Liberal government’s planned tuition increase of 75% over five years. As the Montreal Gazette’s timeline on tuition issues shows, the Charest administration has slowly changed its position on support for higher education since 2003 under pressure from university administrators and ongoing government budget pressures.

The standoff between universities, the government and students has escalated recently with ramped up protests, an oppressive law banning students from protesting, clashes with police and hundreds of arrests. While most people agree that the new law is unconstitutional, support for the students objectives is mixed. Some are standing behind the students in complete “solidarité” with their goals, while others think they are taking things too far.

What is the Quebec Government Proposing?

IRIS, a socio-economic research organization, provides a summary of the government’s tuition hike plans:

In its last budget, the Quebec government planned to hike tuition fees so that it will soon cost students $3,793 a year for university studies — or an increase of nearly 75% ($1,625) over five years. If we take into account previous increases (from 2007-2008 to 2011-2012, tuition will have gone up $2,125 (127%) in ten years, jumping from $1,668 to $3,793. And the uptrend will continue past 2017 because tuition fees are slated to be indexed to inflation, even if student earning power does not follow this rise in the cost of living.

The IRIS document goes on to explain that the government intends to use increased tuition fees to earmark additional money for universities, however only slightly more than half of that will be used to improve teaching conditions and student services.

Are Low Tuition Fees a “Free Ride” or a Right?

Although everyone understands the need for governments to seek balanced budgets, there is a divide in Quebec between the government, which states that the tuition increases are essential, and students who see the possibility to pursue other avenues. The Graduate Student Association at Carleton University put together a video outlining some of the key facts that the government is not sharing, positioning this as a choice between investing in an educated, thoughtful society or asking students to pay for continued tax cuts for the banks and the rich.


On his blog, Alberta Conservative Member of Parliament Brent Rathgeber expressed his thoughts about the protests and the protesters:

The Quebec Student strike and protests, like the popular Greek austerity protests, reveal some odd entitlements-mentality of consumers of the modern welfare state. Since the Quebec students pay the least, they feel they have the most to lose by increased fees for their education. Expressed alternatively, one becomes dependent on free or nearly free service. Accordingly, when that free service is terminated, like any dependence, there is an adverse reaction caused by withdrawal.

His remarks are but one example of the divide between the values of Quebecers and those outside the province. An education, like a passport, is considered by many to be a rightful entitlement. It is understandable that there is some fee to the user, but access to higher education should not be something that is available only to those who can afford it. It should be available and accessible to anyone who has the academic credentials to get in. Basing access to education on grades and potential, not money, helps to ensure that higher learning fosters knowledge and innovation, instead of simply being a profit center churning out degrees in exchange for money. It helps to ensure that everyone, regardless of their socioeconomic background, has the opportunity to succeed.

In the last federal election, Liberal leader Michael Ignatieff proposed an education bursary based on the concept that “you get the grades, you get to go.” Although there were some issues with the math behind the proposal, the concept of merit-based access to education instead of income-based access to education is one that Quebecers believe in and have supported over the years.

Higher Tuition Rates Have Consequences

At the same time as the Bank of Canada and other authorities are warning Canadians about their levels of personal debt, the proposed Quebec tuition hike threatens to plunge more young Canadians deep into debt before they’ve even started their careers. The website QuebecTuitionFees.ca, points out some of the consequences of an increase in tuition:

  • At least 7000 students will lose access to a university education, primarily those from low-income families whose parents cannot provide further financial assistance.
  • Students will need to work, on average, an additional 162 hours per year to stay in school. Most students already work more than 16 hours per week, and research shows that working more than 15 hours per week as a significant negative impact on academic achievement.

For many students, the increase will simply be too much, leaving them without an education in an already tough job market.

Quebec’s Distinct Society

While student fees in Quebec are significantly lower than in the rest of Canada and the United States, they are higher than in European countries like France and Germany where university education is either free or provided at a low cost. Quebec is more progressive than other provinces in many areas, includingmore generous and flexible maternity and parental leave programs, and its $7 per day subsidized day care program (which more than pays for itself).

The culture in Quebec is one that supports subsidizing of programs that increase the welfare of citizens and thereby allow them to make a positive contribution to society. This is perhaps a cultural difference between Quebec and other parts of North America, but the students are far from being a group of entitled brats as some people are portraying them. They are simply putting their foot down and standing up for what is right for them and for future generations, including my children.

More protests and more arrests are expected tonight as students continue to march in protest against the proposed 75% tuition hike. There is currently no end in sight.

Related Stories

Quebec Attempts to Quash Students’ Free Speech with New Law

Quebec’s Subsidized Child Care Pays for Itself

Proposed Canadian Learning Passport: Will $1,500 Per Year Make a Difference?


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Photo credit: Kunal Shah on flickr



Read more: http://www.care2.com/causes/tuition-hike-protests-in-quebec-entitlement-mentality-or-legitimate-outrage.html#ixzz1vv6UKt1q

"Choose a job you love and you will not have to work a day in your life" (Confucius)

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