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Contains news articles on many different topics.  There's general news, of course, then selected items from, about or related to Ireland.  There's news on Irish Wolfhounds and Science and Technology and finally, there's Financial News.  This Day in History has been moved to its own submenu.  The topic is being populated with articles and should be available for registered users on January 1, 2009.



Earthquake in Los Angeles PDF Print E-mail
Archived News
Written by Hugh McManus   

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Wednesday, 30 July 2008 17:53

July 30, 2008: A small earthquake took place just outside Los Angeles County near Chino Hills.  The quake, measured at 5.4, rattled buildings around LA but caused minimal damage.  The quake was felt through the Los Angeles basin and as far away as Las Vegas, Nevada.   Close to forty aftershocks measuring up to 3.8 on the Richter scale were felt in the hours after the main earthquake.  The earthquake occurred on a fault system that is located south of the San Gabriel Mountains and south of the Sierra Madre fault zone.   Only about one in twenty of such earthquakes turn out to be "foreshocks": a smaller quake that precedes a much stronger event.

There were no reported injuries. This link to the United States Geological Survey website provides more details on the earthquake.

 
You are a skilled reader PDF Print E-mail
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The Latest News
Written by Hugh McManus   

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Wednesday, 30 July 2008 17:51
Aoccdrnig to a rscheearch at an Elingsh uinervtisy, it deosn't mttaer in waht oredr the ltteers in a wrod are, the olny iprmoetnt tihng is taht frist and lsat ltteer is at the rghit pclae. The rset can be a toatl mses and you can sitll raed it wouthit porbelm. Tihs is bcuseae we do not raed ervey lteter by itslef but the wrod as a wlohe.
 
Qantas incident PDF Print E-mail
Archived News
Written by Hugh McManus   

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Wednesday, 30 July 2008 17:50
July 30, 2008: An oxygen tank is suspected in the explosive decompression of a Qantas B744.
 
Manifest Investing news PDF Print E-mail
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Financial News
Written by Hugh McManus   

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Wednesday, 30 July 2008 17:49

Manifest Investing has started a study series on Wells Fargo [NYSE:WFC]: a major US bank that is currently caught up in the mortgage crisis.  The series, for registered users, contains detailed information on the crisis and an overview of the mortgage mess.  Non-members may register on the site for a complimentary 30-day trial.  Click on this link to visit Manifest Investing.

 
Two more banks go under PDF Print E-mail
Financial News
Written by Hugh McManus   

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Wednesday, 30 July 2008 17:48

First National Bank of Nevada and First Heritage Bank NA of California was closed by the Office of the Comptroller of the Currency today, July 25, 2008.

The Feds seized two more banks on Friday and sold them to Mutual of Omaha Bank for an undisclosed sum.  To date, there have been seven seizures in 2008.  The largest closure occurred two weeks ago, when IndyMac Bank of Pasadena, CA was seized by the FDIC (Federal Deposit Insurance Corporation).  The twenty-eight offices of the banks will reopen on Monday as branches of Mutual of Omaha Bank.  The bank is a subsidiary of the insurance and financial services company with $19 billion in total assets.

 
Good news on banks? PDF Print E-mail
Financial News
Written by Hugh McManus   

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Wednesday, 30 July 2008 17:48

So, banks are in a world of hurt right now, following the closure of IndyMac Bank on Friday (July 11, 2008).  But, there could be opportunties.  It may be the time to consider actually purchasing a bank or two!

I am getting more confident about banks.  I believe it was at the Money Show in Las Vegas in 2007 when we talked about the issue.  At that time, I was guessing that the economy was in the hole for between $500 billion and $1 trillion.  It now looks like it's closer to a trillion.  It's not a big deal.  The economy will fix itself.

Read more...
 
Is Washington Mutual worth buying? PDF Print E-mail
Hugh's Views
Written by Hugh McManus   

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Wednesday, 30 July 2008 17:46

Washington Mutual [NYSE:WM] is the largest savings and loan association in the United States.  Washington Mutual offers complete banking services to consumers and businesses.  The company offers retail and consumer lending and mortgage services.  The company has more than 2,500 branches or offices throughout the United States.

Washington Mutual has extensive exposure to the mortgage market; there is wide-spread concern that the company is overly exposed and may suffer the same fate as IndyMac Bank--a California company which was seized by the FDIC on July 11, 2008.  Management at Washington Mutual has continuously stated that the bank has no liquidity issues and that the bank does not expect any future problems.  On July 25, management reported that liquidity has been boosted to $50 billion.  The company no longer has exposure to the subprime market.

The stock price has suffered.  The price has dropped from close to $38.40 in July 2007 to $3.84 on July 25, 2008.  Over the past few weeks--particularly after the seizure of IndyMac Bank--the stock has seen dramatic price swings.  Trading volume is at an all time high.  If the company has liquidity problems, the equity markets will not be a source of new funding.

Washington Mutual has problems, real problems; it remains to be seen if those problems are fatal.  At this point I think that there is a better than a 50/50 chance that the bank will be seized by the FDIC.  Confidence in the bank is ebbing.  The company is not, at least in the short term, worthy of consideration by a serious investor.  The long term prospects for the bank are probably more sanguine.  However, if the company performs well in the fourth quarter--particularly, following inevitable write downs--the company is worth revisiting.

 
Damaging your credit score PDF Print E-mail
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Archived News
Written by Hugh McManus   

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Wednesday, 30 July 2008 17:44
ABC TV's Good Morning America ran a segment this morning [July 28, 2008] on credit scores.  A synopsis is given next.

In the US, a good credit score is considered to be 700 and above.  As credit tightens, it's getting harder to get the best credit cards; those with the best credit get the best deals.

The first piece of advice is that consolidation of debt isn't necessarily better.  Spreading your debt among a number of cards is better than one card with a large balance.  Pay off as many cards each month.

About 15% of your credit score is based on your history, so holding a card for a long time helps.

Should you take your time when shopping for a loan?  Keep in mind that each inquiry into your credit history will ding your credit.  So shopping can actually damage your credit.  It's best to do your shopping in a fourteen day window to minimized the affects of potential lenders peering into your credit history.

Believe it or not, parking tickets and library books are now turned over to collectors.  Yep, holding a book past due can potentially affect your credit.

Don't just have one kind of debt.  Creditors want to see various types of debt: a housing payment, car payment, etc.  Creditors want to see your ability to handle multiple forms of debt.

There you have it!

 
Continental Airlines Announces Lie-Flat BusinessFirst Seats PDF Print E-mail
Financial News
Written by Hugh McManus   

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Monday, 28 July 2008 22:36

Continental Airlines [NYSE:CAL] today unveiled its new lie-flat BusinessFirst seats.  The airline reported that the seats would be deployed in the fall of 2009 on the B777-200 fleet; installation on the B757-200 would begin in 2010.  The seats will be installed on the new B787 as they are delivered. 

Continental's new BusinessFirst seats allow customers to lie completely flat, reclining 180-degrees and providing 6 1/2 feet (2 meters) of sleeping space in the fully extended position on its widebody aircraft. The lie-flat seat is one of the widest business-class seats in the air, measuring up to 25 inches when the adjustable armrest is positioned flush with the seat cushion, allowing customers to sleep more comfortably. Electronic "one-touch" controls enable customers to easily move the seats to pre-set upright, cradle and fully extended sleep positions and additional controls allow customers to adjust the seat back, lumbar support and leg and foot rests to the custom position most comfortable for them.

The lie-flat seats provide more individual storage space for personal items. Laptop power, headset and USB plugs are conveniently tucked above the customer's shoulder. There is additional storage under the ottoman, on a shelf under the monitor and on an amenity storage alcove that provides room for small personal items such as a book or magazine and a water bottle.

iPod connectivity will also be available at the seat, allowing each customer to view their personal videos and enjoy their music, all while the iPod is charging. BusinessFirst seats on the 787 and 777 aircraft will feature a 15.4-inch video monitor for customers to enjoy on-demand movies, music and games. Seats on the 757 aircraft will feature 10.6-inch monitors.

The new BusinessFirst seats also have a six-way adjustable head rest, an individual overhead reading light and an adjustable seat light allowing a customer to read in bed without disturbing their neighbor and a privacy shell that allows for seclusion from other travelers.

Two Years to Design and Perfect

Continental's product marketing team began researching new seat options in the fall of 2006 when planning BusinessFirst service for the new 787 Dreamliner aircraft. The airline visited with numerous seat manufacturers worldwide before selecting BE Aerospace, which created five different design concepts. Concurrently, Continental sought feedback from a focus group of BusinessFirst frequent flyers that identified and prioritized key needs of global travelers and worked closely with the airline's project team and the seat manufacturer to help create the new seat. The important features requested by the focus group were to install a wider seat that could lay completely flat and be easy to operate.

Seats are the Centerpiece of Premium Service

BusinessFirst service features an extensive gourmet menu served with premium wines and champagnes created by Continental's Congress of Chefs and Sommeliers. International Concierge Service provides individualized pre- and post-flight services for BusinessFirst customers at 42 airports around the world. Customers traveling in BusinessFirst may also access any of Continental's 27 Presidents Clubs and more than 60 airline affiliated lounges worldwide.

Continental Airlines has won numerous awards for its BusinessFirst product. The Official Airline Guide has awarded Continental's BusinessFirst as the Best Executive/Business Class for five consecutive years (2003 - 2007), and Conde Nast Traveler magazine rated Continental's premium BusinessFirst service the highest among all U.S. carriers for trans-Atlantic and trans-Pacific flights 10 years in a row.

Continental currently operates the Boeing 777 on routes between Newark and Beijing, Delhi, Frankfurt, Hong Kong, London/Heathrow, Mumbai, Paris, Rome, Tel Aviv and Tokyo, and between Houston and London/Heathrow, Paris and Tokyo.

 
Three Church of Ireland parishes request admission to the Catholic Church PDF Print E-mail
News from Ireland
Written by Hugh McManus   

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Sunday, 28 October 2007 14:25

The Irish Catholic newspaper has reported that three Church of Ireland parishes have requested admission into the Catholic Church.  The Church of Ireland is part of the Anglican communion, essentially the Episcopal Church in Ireland.  The parishes are in the counties of Down, Tyrone and Laois and are part of what is referred to as the "traditional rite" of the church.  The communities are dissatisfied with what they see as increased liberalization within the Anglican community.  The parishes have asked for "full, corporate, sacramental union" with the Catholic Church which implies the acceptance of authority from the Pope.

 
Thinking of emigrating back to Ireland? I'd wait. PDF Print E-mail
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Friday, 31 March 2006 18:24

So you're think of moving back to Ireland, the Celtic Tiger?  I have at least three friends that are in the process of either moving or accepting jobs on the Emerald Isle.  The country has seen record growth over the past ten or so years; it has been featured on the US investigative program 60 Minutes; for the past few years, people have been emigrating into Ireland from other EU countries, Asia and Africa.  All signs point to a great future; however, there are possible clouds on the horizon.

Read more...
 
Cherokee Pharmaceuticals Profile PDF Print E-mail
Science News
Written by Hugh McManus   

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Saturday, 01 January 2000 00:00

Cherokee Pharmaceuticals Profile

Cherokee Pharmaceuticals is an API small molecule contract manufacturer based in Riverside in the heart of Pennsylvania.  The company specializes in route-scouting, process development, optimization, scale-up and validation together with cGMP production of phase one clinical material through commercial supply.  With a dedicated project manager coordinating all activities, including technical transfer, material is delivered in specification and on time.  Cherokee Pharmaceuticals also offers complete analytical support including method development, transfer and validation.  The company boasts a sixty-year history in pharmaceutical development and production, specializing in complex, multi-step processes.  Cherokee Pharmaceuticals is a reliable and responsive partner.

Cherokee Pharmaceuticals serves emerging and legacy small molecule pharmaceutical companies world-wide.  While our major focus has been the US domestic market, our central Pennsylvania manufacturing campus benefits from its designation by the US government as a foreign trade zone.  This designation facilitates the easy movement of certain products into and out of the USA, allowing us to offer seamless service to pharmaceutical companies throughout the world.

With over sixty years of service as a dedicated production plant for a major US pharmaceutical company, the newly formed Cherokee Pharmaceuticals can easily handle demanding chemistry with a time-challenged delivery schedule.  We have unique experience in rapidly improving and running complex chemical processes.  Cherokee has dealt with all major chemistries and has unparalleled experience in working with anti-infectives, including anti-viral compounds, and oncology products.  We boast world-class regulatory support and full, in-house analytical support for any project.

 
Cherokee Logo PDF Print E-mail
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Sunday, 12 December 1999 00:00

Cherokee Logo

 
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