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A compilation of brief news reports for Tuesday, December 9, 2008.

The United States media group Tribune Company has filed for bankruptcy protection on Monday as it struggled to sort out its US$13 billion debt. It is the second-largest newspaper publisher in the United States, responsible for the Chicago Tribune and the Los Angeles Times, among others.

The firm has been hit hard by the industry-wide slump in newspaper advert revenues this year. Sam Zell, the billionaire who owns Tribune, took out large loans in order to buy the firm back in June of 2007.

The United States Chapter 11 bankruptcy protection law states that a company can continue trading whilst it sorts out its finances.

Sources

• “US publisher in bankruptcy move” — BBC News Online, December 8, 2008
• “Tribune files for Chapter 11 bankruptcy” — MarketWatch.com, December 8, 2008

The Quebec general election is underway in the Canadian province of Quebec. Premier Jean Charest called the elections, saying he needed a majority to guide Quebec through a period of economic difficulties caused by the worldwide financial crisis.

Polls indicate that the Charest may obtain a majority, with support for his Quebec Liberal Party increasing to 45%, while support for the Parti Québécois remains at around 30%.

The polls will close at 01:00 GMT (20:00 local time), and the results will probably come in soon after that.

Sources

• “Quebec voters head to the polls” — BBC News Online, December 8, 2008
• “Quebec votes in provincial elections” — Agence France-Presse, December 8, 2008

The United States government is reportedly close to an agreement for a US$15 billion bailout plan for the country’s three largest auto firms.

According to a draft obtained by the Associated Press, the deal would give loans to Detroit‘s struggling Big Three automobile manufacturers — Ford, General Motors, and Chrysler — but under the condition that the auto industry restructures itself to survive. Another condition is that the incumbent US President, George W. Bush, would appoint an overseer to supervise the effort.

Analysts suggest that the agreement could be signed into law by the end of this week.

Sources

• “White House cool to plan for auto bailout” — MSNBC, December 8, 2008
• “US car bail-out nears agreement” — BBC News Online, December 8, 2008

Tuesday, October 1, 2013

A review this week by Wikinews of US Consumer Financial Protection Bureau (CFPB) complaints about student loans in the United States shows Sallie Mae leads all lending institutions in complaints. Of the 4,851 complaints dating back to March 2012 when the CFPB first began collecting student loan data, 2,262 or 46.6% of all complaints were about the lender. US Federal Reserve data from 2010/2011 shows Sallie Mae is the nation’s largest student loan lender, responsible for 25% of the market

The other major lenders in this space include Wells Fargo, JP Morgan Chase, PNC, and Discover. In complaints, AES/PHEAA came in second with 546, or 11.3% of all complaints. Wells Fargo, Citibank and JPMorgan Chase each had between 5% and 7.5% of all complaints, totaling 918 complaints between them. 78 other lending institutions round out the list of organizations with complaints filed against them for student loans.

Few of the complaints originate from people with problems with federal student loans. Less than 1%, 35 total, are for these types of loans, with Sallie Mae accounting for the bulk of complaints with 17 total. 14 other lending institutions have 3 or fewer complaints. For non-federal student loans, Sallie Mae is still the leader for complaints, with 2245 or 46.6% of all non-federal student loan complaints.

The Consumer Financial Protection Bureau sorts complaints into three issues: Problems when you are unable to pay, Repaying your loan, and Getting a loan. None of the federal loans had complaints about getting a loan. For non-federal loans, 65.5% of the 4,816 complaints related to loan repayment. Sallie Mae led in total complaints in this category with 1467. They were followed by AES/PHEAA with 356, Wells Fargo with 231, Citibank with 201, Discover with 158, JPMorgan Chase with 154, ACS Education Services with 143, and KeyBank NA with 116. CFPB says loan repayment issues include a basket of claim types including “fees, billing, deferment, forbearance, fraud, and credit reporting.” Problems when you are unable pay accounts for 30.8% of the complaints. Sallie Mae had 698 complaints. They were followed by AES/PHEAA with 181, JPMorgan Chase with 106, Wells Fargo with 104, Citibank with 70, and KeyBank NA with 58. Many of the complaints are, according to the CFPB, because borrowers have difficulty getting deferrments on loan repayment as a result of being unable to find employment.

The total complaints against Sallie Mae for September of this year is 2 fewer than the same time last year. The company’s performance this year compared to last year has been mixed. March and June numbers were down over 150 complaints from the same month a year before. April, May, July and August all saw increases of 17–43. Of the top six lenders by volume of complaints, only AES/PHEAA and Citibank saw drops every month between March and September from the total volume in the previous year. Wells Fargo had a gain of 1 in August and 6 in May from the previous year. JPMorgan Chase had a difference of 0 from the same month last year for April, 3 more this year for May, and 4 more for August. Discover saw an increase every month from the same period last year except for September. When the total complaints differences from year to year for March to September are counted, this year has 571 fewer complaints against the top six lenders.

Most, 1470, of the complaints against Sallie Mae were closed with explanations. 10.2% were closed with monetary relief. 7.7% were closed with non-monetary relief. 2.1% were closed with relief and 12.1% were closed without relief. AES/PHEAA’s complaint closure picture was much different. 40.1% of AES/PHEAA’s 546 complaints were closed with non-monetary relief, 35.3% were closed with explanations and 21.2% were closed without relief. Of the eight lending institutions with 100 or more complaints filed against them, Discover was the institution most likely to result in a closure with monetary relief with 12.9% of all their closures ending this way. Citibank was the institution with the highest percentage of closures ending with no relief at 26.0%.

Complaints over student loan lenders were geographically distributed, coming from 3,447 different zip codes. The largest cluster of complaints is for 20001, a Washington D.C. zip code with 10 complaints originating from there. 07950, the zip code for Morris Plains, New Jersey, and 37013, the zip code for Antioch, Tennessee, each had 8 complaints originating from them. Zip codes for Patchogue, New York; Philadelphia, Pennsylvania; Washington D.C.; and Arlington, Virginia each had 7 complaints originating from them. By volume of complaints by state, New York led with 497, with California second with 467, Pennsylvania third with 303, Florida fourth with 288 and Ohio fifth with 219 complaints. US Territories largely occupied the bottom spots. The Northern Marianas Islands, with a population of around 50,000, had 1 complaint. The U.S. Armed Forces – Pacific had 3. North Dakota and U.S. Armed Forces – Europe had 5 complaints each. South Dakota had 7. Wyoming had 8. Puerto Rico and Alaska had 9 each. Rounding out the bottom five states by volume of complaints, Mississippi had 11.

With the possibility of a United States government federal shutdown looming on October 1, student loans may be impacted because of potential for an automatic increase in interest rates.

Wednesday, October 3, 2007

Kristen Monster is running for the Family Coalition Party in the Ontario provincial election, in the Willowdale riding. Wikinews’ Nick Moreau interviewed her regarding her values, her experience, and her campaign.

Stay tuned for further interviews; every candidate from every party is eligible, and will be contacted. Expect interviews from Liberals, Progressive Conservatives, New Democratic Party members, Ontario Greens, as well as members from the Family Coalition, Freedom, Communist, Libertarian, and Confederation of Regions parties, as well as independents.

Thursday, August 23, 2007

Researchers say that new, ten million-year-old fossils found in Ethiopia, prove that the theory that humans may have evolved from a species of great apes eight million years ago, may not be true, but that humans may have split from apes as long as 10.5 million years ago.

At least nine fossilized teeth, one canine tooth and eight molars, of a previously unknown species of apes found in Africa were discovered by a team of researchers from Ethiopia and Japan who then compared the 3-D make up of the teeth to other fossils that date back as far as 8 million years and found that the fossils are likely a “direct ancestor” of apes currently living in Africa and that the new ape fossils were that of a species of gorilla who ate mostly plants high in fiber.

Current fossils and research say that the evolutionary split from apes to humans occurred at least eight million years ago. The new fossils say that the split may have happened as long as 10.5 million years ago.

“Based on this fossil, that means the split is much earlier than has been anticipated by the molecular evidence. That means everything has to be put back,” said researcher at the Rift Valley Research Service in Ethiopia and a co-author of the study, Berhane Asfaw.

Despite the finds, other researchers are not convinced that the findings are correct.

“It is stretching the evidence to base a time scale for the evolution of the great apes on this new fossil. These structures appear on at least three independent lineages of apes, including gorillas, and they could relate to a dietary shift rather than indicating a new genetic trait,” said a Professor at the London Natural History Museum in the United Kingdom, Peter Andrews who also added, “but the fossil evidence for the evolution of our closest living relatives, the great apes, is almost non-existent.

Researchers have named the newly discovered species Cororapithecus abyssinicus whose remains were found in the Afar Region of Ethiopia, the same place where the remains of Lucy were discovered in 1974.

Oh hi mark

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Monday, September 20, 2010

One of London’s most well known murals could be restored after years of neglect if plans by a group of community activists gain public support. The Fitzrovia Mural at Whitfield Gardens on London’s Tottenham Court Road was created by two mural artists and commissioned by Camden Council in 1980, but the mural has since decayed and been vandalised.

Plans will be presented at a public meeting this Tuesday, to include details of the restoration and promote local public space in contrast to potential commercial developments and the focus of the London 2012 Olympics. If enough funds are raised from charitable trusts and public donations the mural could be restored during the summer of 2011.

Plans to be put forward by the Fitzrovia Neighbourhood Association, and the London Mural Preservation Society, will present ways to fund not only the restoration work but also projects to raise awareness of conservation, heritage, and the residential and working community. The heritage and mural project hopes to involve many local people who could learn new conservation skills. Also planned are workshops with local children to involve them in their heritage, an exhibition by local artists, guided tours and a celebratory event at the end of the restoration project. In addition to this, a booklet would be produced containing collected oral histories of the people involved and a preservation trust to protect the mural in future years.

The playful painting was created on a Camden Council-owned building in 1980 by artists Mick Jones, (son of the late Jack Jones, trade union leader) and Simon Barber and is a mash up of scenes depicting problems faced by the neighbourhood over the preceding decade.

There is also a caricature of poet Dylan Thomas, who lived in Fitzrovia, and a mocking portrayal of then leader of the Greater London Council, Conservative politician Horace Cutler, who is pictured as a bat-like creature. Other characters include an anonymous greedy developer and a property speculator counting piles of cash.

Peter Whyatt of the neighbourhood association is jointly leading the project to restore the mural. Yesterday he told Wikinews he had a number of concerns about the possible success of the project.

“There are a great number of problems with getting this project off the ground and we also need to act pretty quickly for a number of reasons,” said Mr Whyatt.

“Firstly the mural is in a terrible state and deteriorating quickly. There is more graffiti being daubed on the site every month because one bit of graffiti attracts another bit. We really need to start the work in the next 12 months because going through another winter with the condition of the wall will causes more problems and inevitably more expense. We want to keep as much original artwork on the site as possible to keep the costs down. This is a big mural and it will be expensive to restore,” he continued.

“And that brings me to my second concern: cost. If we don’t get other community organisations on board to bid for money for this with us and to involve their beneficiaries and volunteers, it will be very difficult to secure the money needed. Money is very tight at the moment because to the current financial climate. We need to get support at this meeting on Tuesday and some firm commitments from people and organisations to get involved.

“Lastly there is a danger of a commercial development on the site. A public-private partnership to create a new art feature. Because of the existing mural’s subject matter – it mocks property speculators, and land developers, etc – a commercial scheme probably backed by a property developer would not want to restore the mural’s original message. They’d want some “good news” scheme, some greenwash idea that paints them in a positive light.

“However, despite these problems, Camden Council have offered to do a condition survey on the mural. This will save us a lot of money. But having said that there are five council departments to deal with to get permission for this restoration work, and they don’t always talk to each other.

“But if the public and local voluntary organisations show their support, we can make it happen,” Mr Whyatt concluded.

The mural restoration will be just one part of a year long project of heritage and conservation awareness-raising. “The project is not just about the mural but also wider plans to promote awareness of heritage and conservation in an area of London under threat from commercial development. In fact the bulk of the project is about the heritage and conservation and the mural is just one part of it, and the most visible because of its situation,” Mr Whyatt later added.

There will be a public meeting about the heritage and mural project at 7.30 pm tomorrow (Tuesday), at the Neighbourhood Centre, 39 Tottenham Street. The public can also comment about the proposals on the Fitzrovia Heritage and Mural website.