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Thursday, September 28, 2006

Gerasimos Macridis, 39-years-old, left the court room discharged without conviction after hacking into the New Zealand Reserve Bank’s phone system and then asking for money for his services after pointing out these security flaws to both the Reserve Bank and Telecom New Zealand in May, 2006, and offering to fix them. He had identified himself as a security consultant.

The New Zealand Police then raided his home and took his computer on 21 September. Macridis told police that he did not think it was illegal, but knew he was not authorised to access the phone systems. Telecom then took him to court.

Colin McGilicray, police prosecutor, said: “Macridis has a significant number of previous fraud convictions and it appeared he was trying to obtain money through virtue of his technical knowledge.”

Macridis, who represented himself, told the court that for 11-years he had worked as a casual security consultant and he had worked for Telecom, police and Department of Internal Affairs.

Macridis thought himself as an honest, law abiding citizen as his 1994 conviction had ‘turned his life around’.

Judge Ian Mill said this case was very unusual and also noted that Macridis ended his offending over 10-years ago.

Mill said: “Macridis used his talents to identify security risks and he had identified a grave risk to the Reserve Bank and its customers. Macridis provided a report of his findings, requested payment albeit without a contract and for his troubles was prosecuted. He did not pass the information on to others and did not use it for personal gain.”

“In my view his intentions were honourable,” Mill added.

Mill discharged him without conviction on the basis that a conviction would be out of proportion with his actions.

Monday, October 15, 2007

Sam Brownback is perplexed. The U.S. Senator from Kansas and Presidential candidate is a Republican whose politics—he is against marriage for gay people, he is against abortion, and he has a clean image in a party tainted by scandal—should speak favorably to the party’s base. But it has not. “I’m baffled by that myself,” Senator Brownback told Wikinews reporter David Shankbone. “We haven’t been able to raise money.”

A recent poll in Iowa has put him in eighth place, with 2% supporting his campaign. “If we don’t finish fourth or better in Iowa…we’ll pull out.”

Senator Brownback’s relationship with God infuses almost every answer you find below. Although he doesn’t feel “competent” to explain why God would dislike gays, he does feel strongly that allowing two men or two women to enter into the union of marriage will destroy it for heterosexuals. Pointing to the research of Stanley Kurtz at the Hoover Institution, Brownback asserts that Northern Europeans have “taken the sacredness out of the institution.”

In the interview, Senator Brownback discusses the tug-and-pull that befalls him when his constituents show up at his office and say, “Look, I’m a conservative, but we need this bridge, we need this subsidy, we need this hospital.” Brownback feels this spending system needs to be changed; however, when it comes to energy policy, Brownback is there for his constituents. David Shankbone asked the Kansas Senator, a supporter of cellulosic ethanol, why he doesn’t support the lowering of tariffs on sugar since sugar ethanol delivers 8 times the energy output of cellulosic ethanol. Brazil, in particular, has become energy independent because of its sugar ethanol program. It’s cheaper to produce, and there is vastly more bang for the buck in sugar fuel than in corn fuel; an entire country no longer needs to import oil because of it. Federal tariffs currently make sugar ethanol too expensive in the United States. “You’re going to kill the ethanol industry here just as it gets going,” was Senator Brownback’s response. However, there is a debate over whether the process to make corn ethanol uses more energy than the ethanol itself produces.

Below is David Shankbone’s interview with Senator Sam Brownback.

Thursday, July 14, 2005

First Active has become the first financial institution to offer 100% mortgages in the Republic of Ireland. The bank previously offered 100% financing to professionals in finance and medicine, but is now to offer this product to anyone who can afford to meet the repayments.

The development is a huge boost for first time home buyers who have been struggling to get on the Irish property market in recent years due to the rapid increase in house prices. A typical first time buyer in Dublin with 92% financing would normally have to put down a deposit of €20,000-€30,000 in cash, but now have the option to produce no deposit.

First Active has said that 100% mortgages will be available across its entire range of mortgage products.

Note however that this is not necessarily an entirely positive development.

The United States and most of Europe have experienced a housing price bubble in recent years. A bubble occurs when buyers purchase a property not because its price is appropriate for its actual value but because they expect the price to significantly rise in the short term permitting resale with a profit.

In other words, the prices people pay for properties becomes divorced from the real value of the property; the purchase is speculative and depends purely upon the expectation that people will continue to buy properties in this way (e.g. without proper consideration of their real value).

The terrible weakness in this is that when the market corrects itself and prices fall to a level where properties are being priced at their actual realistic value, anyone holding a property loses a great deal of money, since the price they paid does not reflect the actual realistic value of the property.

This kind of shock to the housing market is extremely undesirable. Significant write downs in the value of property often significantly depress the economy as a whole.

Less than 100% mortgages force buyers to invest a significant amount of money in the act of purchasing their house, which tends to discourage purely speculative purchasing, thus helping to mediate house price bubbles.

With 100% financing, anyone who can meet repayments can speculatively purchase a property. This naturally encourages pricing bubbles.

Sunday, November 25, 2007

Despite the hopes of many University of Wisconsin-Madison (UW) students, The Onion was not named after their student center. “People always ask questions about where the name The Onion came from,” said President Sean Mills in an interview with David Shankbone, “and when I recently asked Tim Keck, who was one of the founders, he told me the name—I’ve never heard this story about ‘see you at the un-yun’—he said it was literally that his Uncle said he should call it The Onion when he saw him and Chris Johnson eating an onion sandwich. They had literally just cut up the onion and put it on bread.” According to Editorial Manager Chet Clem, their food budget was so low when they started the paper that they were down to white bread and onions.

Long before The Daily Show and The Colbert Report, Heck and Johnson envisioned a publication that would parody the news—and news reporting—when they were students at UW in 1988. Since its inception, The Onion has become a veritable news parody empire, with a print edition, a website that drew 5,000,000 unique visitors in the month of October, personal ads, a 24 hour news network, podcasts, and a recently launched world atlas called Our Dumb World. Al Gore and General Tommy Franks casually rattle off their favorite headlines (Gore’s was when The Onion reported he and Tipper were having the best sex of their lives after his 2000 Electoral College defeat). Many of their writers have gone on to wield great influence on Jon Stewart and Stephen Colbert‘s news parody shows.

And we are sorry to break the news to all you amateur headline writers: your submissions do not even get read.

Below is David Shankbone’s interview with Chet Clem and Sean Mills about the news empire that has become The Onion.

Wednesday, April 4, 2012

The following is the fifth in a monthly series chronicling the U.S. 2012 presidential election. It features original material compiled throughout the previous month after a brief mention of some of the month’s biggest stories.

In this month’s edition on the campaign trail, a politician from outside the fifty states receives significant mention as a potential Republican Party vice presidential nominee, Wikinews gets the reaction of three Democratic Party candidates after the party strips delegates from two of their fellow challengers, and a minor third party removes its presidential nominee for fraud.

Friday, May 26, 2006

Rail services between Melbourne and Adelaide in Australia are expected to be disrupted until early next week following a fatal crash between a truck and freight train in Lismore, Victoria 170 Km (105 miles) South-West of Melbourne.

The B-Double truck hit the side of a 1,375 metre long freight train at a level crossing at 7:13 a.m. AEST on Thursday in heavy fog, derailing two locomotives and 44 goods wagons. Victorian police said that the truck had been wedged beneath the wreckage of the train.

The driver of the truck, thought to be a 34-year-old man from Wedderburn in Victoria’s North-West died in the crash. The train driver and an observer escaped uninjured. Police said it could take a number of days to retrieve the truck driver’s body. “It could possibly take days to retrieve the body” a Victorian police spokesperson said.

Great Southern Railways, which operates “The Overland” passenger train service between Melbourne and Adelaide said it expected rail services to be disrupted up until early next week. The company will transfer passengers to bus services or allow them to claim a full refund.

The crash will also disrupt freight services between Melbourne and Adelaide.

Local residents and the Victorian opposition are blaming the crash on the level crossing itself, which has no booms, lights or bells.

Rob Dennis, a local resident said the level crossing is the cause of the crash, as it is not fitted with boom gates or flashing lights.

“And it’s a blind turn for anything in a large vehicle,” he said.

Terry Mulder, the opposition’s transport spokesperson said the Bracks Government should have spent part of the $750 million allocated to fast rail projects to upgrading level crossings in Victoria.

“The State Labor Government has wasted $750 million on fast rail projects,” Mr Mulder said.

Mr Mulder said that Victoria has 2,274 level crossings, 1,468 which have no warning systems in place.

Tuesday, December 10, 2013

Major British charity Comic Relief has invested money in arms, alcohol and tobacco firms, according to a BBC Panorama investigation to be broadcast this evening.

The probe discovered evidence of hundreds of thousands of pounds going towards shares in weapons firms like BAE Systems and alcohol company Diageo. It is also alleged to have pledged upwards of £3 million into tobacco firms.

Ethical fund manager Helen Wildsmith told Panorama: “If people who’ve been giving them money, after watching the television, next year think twice and don’t give that money, because they’re concerned about their investment policy, then that could be argued to be a breach of fiduciary duty. They’re risking their reputation, and a charity’s reputation is very precious.”

Comic Relief was founded in 1985, and since then has taken in nearly £1 billion in donations. It funds charitable organisations in the United Kingdom as well as overseas. It uses a range of managed funds, which invests the money in the charity’s name – including on the stock market – in order to maximise return.

A spokesperson for the charity told the British newspaper The Daily Telegraph: “We put the money into large managed funds, as many other leading charities and pension funds do. On balance, we believe this is the approach that will deliver the greatest benefits to the most vulnerable people.”

The controversial investments were made between 2007 and 2009, Panorama explains. Peter Bennett-Jones, former chair of the company, defended the investments in a post on The Guardian’s website.

He said: “The Charity Commission guidance is quite clear that trustees must invest for the best possible financial return, while taking a level of risk appropriate for money in their care. They should only adopt an ethical investment approach with specific justification and not on the grounds of individual moral views. This sounds counterintuitive, but it is the law.”

Wednesday, October 21, 2015

Indian cricketer Virender Sehwag yesterday announced his retirement from international cricket matches and the next Indian Premier League season. Opener Sehwag played his last test match in March 2013 against Australia. He scored 8,586 runs, including 23 centuries, in 104 test matches, with a batting average of 49.34.

Sehwag, who turned 37 yesterday, said on Twitter “I hereby retire from all forms of international cricket and from the Indian Premier League. A statement will follow.” He stated he has not retired from first-class cricket matches, and he is also scheduled to appear in the Masters Champions League in February 2016.

Also known as the Nawab of Najafgarh, Sehwag is the only Indian cricketer to score a triple century in test matches, making 309 runs against Pakistan in 2004 and 319 against South Africa in 2008.

Sehwag stated, “I have always done what I felt was right and not what conformists thought to be right […] God has been kind and I have done what I wanted to do, on the field and in my life, and I had decided some time back that I will retire on my 37th birthday.”

Fellow Indian cricketers praised Sehwag when news of his retirement broke. Sachin Tendulkar referred to Sehwag’s “tremendous achievements” and “superlative performances”, V. V. S. Laxman called him “a pure entertainer”, and Ajinkya Rahane described him as “an inspiration to billions of cricket fans across the world.”

Tuesday, January 18, 2005

Toulouse, FRANCE — In a ceremony attended by several European political leaders and 5,000 VIP guests, Airbus unveiled plans for the A380, a twin-deck aircraft that can carry up to 840 people in all-economy class (550 for a Boeing 747), or 555 people in typical three mixed classes layout.

The new aircraft will take the world’s-largest title away from rival Boeing’s 747. Boeing’s upcoming new design, the 7e7, does not attempt to compete directly with the A380 but instead is aimed at a more efficient and comfortable flight at 200-250 seats.

Airbus chief executive Noel Forgeard stated that he expected sales of the aircraft to exceed the 250 required for the project to break even. To date, 149 confirmed orders for the aircraft have been received. Airbus has hopes that sales will exceed 700. The company is currently in talks with China regarding possible sales there.

The first test flight of the aircraft may take place as early as March, and the first commercial flight is expected to take off in mid-2006 from Singapore’s Changi Airport.

British and American airline Virgin Atlantic has purchased six of these aeroplanes and intend to fit them with gyms and bars as well as seats.