ANCHORAGE, Alaska -- A fifth explosion rocked Mount Redoubt early Monday morning during the volcano's overnight eruption. It was the largest yet, according to the Alaska Volcano Observatory. The AVO says another "large explosion" started at the volcano at 4:37 a.m. Monday, part of an eruptive sequence that began shortly after 10:30 p.m. Sunday.
The National Weather Service has issued an ash fall advisory for the cities of Talkeetna, Willow and Cantwell, effective until 8 a.m. Monday. Ash fall has been reported in Skwentna and Petersville, and AVO says ash is still being emitted from the volcano.
"Beginning at 10:38 p.m. (Sunday) night, we began to have explosive activity," geophysicist John Power with the United States Geological Survey said. "At this point we have recorded four separate explosive events.
"These events were very large, explosive eruptions of Redoubt Volcano."
An eruption cloud is estimated to be at 60,000 feet above sea level at present and heading north-northeast, according to the National Weather Service.
Predictions before the most recent eruption called for light ash fall and for it to miss Anchorage, but things can change rapidly.
Schools in the Mat-Su and Anchorage will remain open, according to Patty Sullivan, public information officer for the Mat-Su Borough and Anchorage School District spokesperson Heidi Embley. Embley went on to say that ash fall conditions would have to change dramatically to close schools, and in any event schools are better prepared to shelter kids if necessary.
A bulletin at the Kenai Peninsula Borough School District's Web site says its schools will also remain open. A flash flood warning has been issued for the Drift River near Mount Redoubt.
A Chevron oil terminal at Drift River just 27 miles from the volcano has initiated shutdown procedures to "both protect the health and safety of its employees and contractors and to safeguard the environment against a possible spill from its crude storage operations at its facility," Cook Inlet Pipe Line Co. said in a press release.
Elmendorf Air Force Base said all base personnel should report to work by 8 a.m. Monday.
Every Home Depot in Anchorage and the Mat-Su will be open 24 hours a day until further notice. A representative with the company says it is well-stocked with emergency supplies. There were about 20 people in line at the Tudor Road store at 2:20 a.m.
"What we've seen at Redoubt over the last two days is a very marked buildup in earthquake activity, earthquakes centered directly beneath the summit of the volcano," Power said.
The first explosion occurred at 10:38 p.m., a second at 11:02 p.m., a third at 12:14 a.m. and the most recent event at 1:39 a.m. At 9:32 p.m., AVO issued an update stating that seismicity at Redoubt had increased significantly. At 11:02 p.m. it issued a release saying the eruption had begun.
The history of Redoubt suggests that this is only the beginning. "Based on Redoubt's past eruptive behavior we might expect this particular eruptive episode to persist for some period of time," Power said. "The most recent eruption of Redoubt went on intermittently for a period of five months."
Elevated unrest at Redoubt began about six weeks ago with increased seismicity. AVO raised the alert level to orange, and it stayed there until about 10 days ago after a period of relative calm.
"This activity is something we've been expecting to see at Redoubt," Power said. "We first began tracking unrest at Redoubt in July of 2008. On November 5th we moved up our aviation alert to yellow, January 25th as activity escalated further we moved up to orange."
It was lowered back to yellow, but late Saturday evening it returned to orange when earthquake activity increased significantly, culminating in Sunday's eruption. We have not had any ash fall in the Anchorage or Mat-Su areas. But I do keep my North mask handy, and we are stocked up with supplies if we have to stay home and wait it out. Airline flights in and out of Fairbanks and Anchorage, as well as other Alaska hubs have been curtailed or canceled as a precaution in many cases.
Posted by: Alaska Paul ||
03/23/2009 12:28 ||
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A very big question is what will happen to the ice under the ash fall area. Will it drop the temperature, or will it darken the ice and make it more prone to melting?
#2
Its going to be interesting to see how Palin responds vis a vis that idiot in Louisiana or even The One at the Federal level should this thing become another Mt. Saint Helens. My bet is that the people in Alaska have about 100 times the reflexes, knowledge, instincts and pragmatism to anything coming out of Washington. Remember Obama's head of FEMA is from Florida where we had a volcanic eruption back when dinosaurs roamed.
Posted by: Jack is Back! ||
03/23/2009 13:39 Comments ||
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The eruptions that we expect from Redoubt, Spurr, et al, are mainly ash eruptions. Heat from melting ice can trigger mud flows down the mountainsides. All the entities around South Central Alaska are well versed in emergency preparedness, as well as the Chevron Drift River facility and offshore gas rigs in Cook Inlet. This is not New Orleans.
Posted by: Alaska Paul ||
03/23/2009 19:40 Comments ||
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I doubt anyone ever called Alaska the Big Easy.
Some 17 harragas drowned when an inflatable boat headed for Italy sank Friday (March 20th) off the coast of Sfax, Tunisia, Echorouk reported. The Tunisian Navy and fishermen managed to rescue 33 of the reported 100 passengers. Women and children are among the missing. The boat reportedly started its voyage from Libya.
Posted by: Fred ||
03/23/2009 00:00 ||
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100 people on an inflatable?
Posted by: Frank G ||
03/23/2009 6:43 Comments ||
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Dang it. Now where can I buy that Fendi bag my wife wants?
Posted by: Jack is Back! ||
03/23/2009 13:36 Comments ||
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Venezuelan President Hugo Chavez says his US counterpart is clueless about the 'reality of Latin America', urging him to 'read and study'.
Chavez described Barack Obama as a 'poor ignoramus' during a televised national address on Sunday after saying that the US president had accused him of 'exporting terrorism'.
"He goes and accuses me of exporting terrorism: the least I can say is that he's a poor ignoramus; he should read and study a little to understand reality," Chavez said.
The socialist president was referring to Obama's January interview with Spanish-language US network Univision, during which he accused Chavez of exporting terrorist activities, supporting Colombian guerrillas and hindering progress in Latin America.
"Such ignorance," Chavez said adding that "the real obstacle has been the empire that he today presides over, which has exported terrorism for nearly 200 years, has launched atomic bombs on innocent cities, has bombarded, invaded and issued orders to kill whenever they have taken the notion."
Chavez's remarks come after a Thursday meeting with US Democratic congressman William Delahunt, who is testing the water for a normalization of relations between the two countries.
The already tense relations between Caracas and Washington further strained in September when Chavez expelled the US ambassador in a dispute over US activities in Bolivia, which also expelled its US ambassador.
Chavez, who had repeatedly expressed his indifference towards Obama, is expected to meet face-to-face with the US president for the first time at a summit of leaders from across the Americas in April in Trinidad.
Posted by: Fred ||
03/23/2009 00:00 ||
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apparently Hoogo missed the $500K bribe book advance for O's book conversion to even more of a comic book
Posted by: Frank G ||
03/23/2009 7:38 Comments ||
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Chavez's remarks come after a Thursday meeting with US Democratic congressman William Delahunt, who is testing the water for a normalization of relations between the two countries.
I'm so proud to have Delahunt as my Congressman...
The economy shrank 8 percent in the first two months of the year, the Economic Development Ministry said Friday, as First Deputy Prime Minister Igor Shuvalov signaled that growth could return by the year's end.
Posted by: Fred ||
03/23/2009 00:00 ||
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A lot of us hold US T-bills. Viable companies should be going after same by issuing viable - vs "junk" - corporate bonds. The banks need re-financing and the new big equity holder - US Treasury - needs to sell off same. As long as a company is operating, bonds pay off. With better corporate disclosure legislation, investors can best determine where the smart money should go.
Warring bikers brawled through Australia's largest airport on Sunday, beating one suspected gang member to death and brandishing metal poles "like swords" as they rampaged through the main domestic terminal in front of terrified travellers. Police said a group of suspected gang members was ambushed as they disembarked from an airplane. They were on their way out of the country to rescue "Leather" Liton...
"A fight ensued, the fight moved through various parts of the terminal." They said 15 men were involved in the violence, which rampaged from the ground floor up one level to the departures hall before most of the men fled. They said one man died from head injuries after the brawl, which appeared to bear out warnings of an impending biker war. "They came running through picking up the big metal barrier poles and swinging them like swords at each other," a witness said.
Posted by: Fred ||
03/23/2009 00:00 ||
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Le président américain vient d'adresser une lettre «très sympathique " à Jacques Chirac, selon l'expression de ce dernier. «Je suis certain que nous pourrons au cours des quatre années à venir collaborer ensemble dans un esprit de paix et d'amitié afin de construire un monde plus sûr" , écrit le successeur de George W. Bush au prédécesseur de Nicolas Sarkozy. En évoquant le mot de « paix", Obama rend un hommage implicite à l'action de l'ancien président français qui s'était opposé à la guerre en Irak. Une intervention américaine contre laquelle le futur président américain s'était opposé comme sénateur, lors du vote au Congrès.
Paris -US President Barack Obama has indirectly praised former French president Jacques Chirac's fierce opposition to the US-led invasion of Iraq, the online edition of the daily Le Figaro reported on Thursday. In a letter described by Chirac as 'very nice,' Obama wrote, 'I am certain that we will be able to work together, in the coming four years, in a spirit of peace and friendship to build a safer world.'
The use of the word 'peace' was taken to be an indirect reference to Chirac's stance against the US intervention in Iraq, which Obama had also opposed as senator.
Our French-speaking readers, please help out in the comments, and thanks in advance.
Posted by: Steve White ||
03/23/2009 00:00 ||
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ObamaUpsets Sarkozy With Letter to Jacques Chirac French newspaper Le Figaro is horrified at the faux pas. And, current French President Sarkozy was appparently upset with the letter.
Europumas and Free Republic has the latest:
Now Obama has insulted French President Sarkozy!
Oh no! Obama sent a letter to Chirac, saying he looks forward to working with him the next four years. Le Figaro, French newspaper is horrified at the faux pas. Doesn't Obama ever consult his staff before acting? Sarkozy is the President there! It's like Sarko writing to George Bush and saying he looks forward to working with him. Chirac is the FORMER president.
#3
JFM, apparently O'man and his closed circle get all their information from that same MSM, so why should we all be surprised that they don't have a grasp on reality outside of journalism school's best and brightest. Remember in journalism, the narrative trumps truth.
#11
maybe next time when Sarkozy visits Obama, the Prez can give him a nice Jerry Lewis rubber mask in exchange for the case of Chateau Rothchild 1973 that Sarkozy gives Obama
#14
The common response seems to be that Obama is an idiot. I posit that he knows exactly what he wants to do... alienate everyone and thereby weaken the US in all foreign relations. Why? Dunno - maybe he's a one-worlder and and sees the US as the main obstacle to world gov't by the UN or some such. I'd look for links to Soros.
MADRID - The withdrawal of Spanish troops from Kosovo, which has drawn US criticism, will be done in a staged and flexible manner, the defence ministry said Sunday. Defence Minister Carme Chacon will meet NATO chief Jaap de Hoop Scheffer in Brussels this week, the ministry said, to discuss Spains pullout from the NATO-led force in Kosovo, a decision Chacon announced on Thursday.
The United States said Friday it was deeply disappointed and surprised by the planned withdrawal.
Spanish newspapers El Pais and El Mundo said Sunday that Madrid has made concessions to the US on the timing of the pullout as well as on its involvement in Afghanistan. Bernardino Leon, the top aide to Prime Minister Jose Luis Rodriguez Zapatero, promised US National Security Adviser General James Jones that the Kosovo pullout would be done gradually and that Spain would boost its contingent in Afghanistan, the papers reported.
The decision to withdraw Spanish troops from Kosovo, a territory whose independence Spain does not recognise, is firm and has been adopted by the government taking into account the operational necessities and the planning of our armed forces, the defence ministry statement said. This process will take place in a staged and coordinated manner with our allies and in a flexible way so that the bulk of our troops are back within the time limit indicated by the ministry, it said.
Unlike a number of European Union counterparts, Spain has declined to recognise Kosovo out of concern that it might set a precedent for separatists at home.
Posted by: Steve White ||
03/23/2009 00:00 ||
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The US is expected this week to announce plans to dispatch more federal agents to its border with Mexico in a bid to combat drug cartel operations there, US officials said.
Washington appears poised to bolster its customs and border protection forces along the 3000-plus kilometer (2000 mile) frontier, in what would be President Barack Obama's first major domestic security initiative.
The announcement is expected to come "in the next few days" a Department of Homeland Security official told AFP ahead of the announcement.
The impending plan comes as Secretary of State Hillary Clinton prepares to visit to Mexico on Wednesday. Her trip is to be followed next week by a visit from US Homeland Security Secretary Janet Napolitano and Attorney General Eric Holder. Those high-profile visits will set the stage for a summit in Mexico between Obama and Mexican President Felipe Calderon on April 16 and 17.
Check the region code on your gifts, Mr. Calderon ...
Mounting drug violence has claimed thousands of lives in northern Mexico and has emerged as a fully-fledged national security threat for the United States.
Obama said earlier this month that the government was considering deploying the National Guard to the border to prevent spillover from the bloody drug wars. The governor of the border state of Texas, Rick Perry, last month asked the president to deploy 1,000 soldiers as a precaution.
In Mexico more than 1,000 people have been killed so far this year in suspected drug attacks, amid the Mexican government's crackdown on warring cartels. Last year saw more than 5,300 killed in drug related violence.
The violence flared after Mexico's President Felipe Calderon declared war on drug cartels nearly two years ago, prompting armed resistance from the country's drug barons and setting off a turf warfare between rival gangs.
Moscow, Mar 23 (PTI) Russia is to shortly commence the delivery of nuclear fuel to India under a USD 700 million deal reached with the Department of Atomic Energy. A long-term contract was inked last month by the DAE and Russia's TVEL Corporation, one of the world's largest nuclear fuel suppliers.
A delegation of Hyderabad-based Nuclear Fuel Complex (NFC) today cleared the shipment of the first batch of 30 metric tonnes of uranium dioxide pellets to India, which would be used to fuel the Indian and Western-designed nuclear power plants in country.
According to 'Atomenergoprom' -- the mother organisation of TVEL Corporation, the protocols for the shipment of first batch were signed after the Indian experts had inspected it at the Machine-Building Plant in nearby town of Electrostal. TVEL would also ensure life-cycle supply of fuel for the light-water VVER reactors of the Kudankulam nuclear power plant in Tamil Nadu.
Russia is currently completing the assembly of first two VVER-1000 reactors with total 2,000 megawatt capacity at Kudankulam. Under a deal inked in December 2008 during President Dmitry Medvedev's maiden India visit, it will also build four more reactors to meet the growing requirements of the energy-hungry Indian economy.
Posted by: john frum ||
03/23/2009 17:14 ||
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A unit of General Electric Co. said Monday it signed preliminary agreements with two government-owned companies in India to build nuclear reactors to help meet India's energy production goals.
The potential value of the deals was not disclosed.
GE Hitachi Nuclear Energy said it signed memoranda of understanding with Mumbai-based Nuclear Power Corp. of India, the country's lone nuclear utility operating 17 reactors, and Bharat Heavy Electricals Ltd., a New Delhi-based manufacturer and supplier of power generation equipment and components.
GE Hitachi and the two companies will plan for "a potential multiple-unit Advanced Boiling Water Reactor nuclear power station," the U.S. company said in a news release.
In morning trading, GE shares rose 64 cents, or 6.7 percent, to $10.19.
Posted by: john frum ||
03/23/2009 17:05 ||
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India is taking several routes here. They are vying for several different types of reactors, operating at different scales of energy production, including thorium reactors, whose purpose is to burn up nuclear waste produced by other reactors.
LAHORE: The General Council of Pakistan Muslim League-Nawaz (PML-N) is meeting here on Monday in which Mian Nawaz Sharif will announce the national agenda.
Sources privy to PML-N told Geo News that Nawaz Sharif would announce the future course of action about charter of democracy (CoD), repeal of 17th Amendment and supremacy of parliament.
More than 5000 office bearers are expected to attend the meeting of Central General Council.
Posted by: Fred ||
03/23/2009 00:00 ||
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"Office bearers?"
Sounds like a tough gig, hauling an office around all day.
* PM says previous PPP-PMLN power-sharing set up in Punjab to continue if SC lifts ban on Shahbaz
* Says he will try to arrange Zardari-Nawaz meeting
* Nawaz says he wants withdrawal of 17th Amendment
* Says he is ready to work with Zardari and Gilani
Posted by: Fred ||
03/23/2009 00:00 ||
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Pakistan People's Party (PPP) Information Secretary Fauzia Wahab asked the Pakistan Muslim League-Nawaz (PML-N) in a press conference on Sunday not to conspire to create differences between the president and the prime minister. She said her party had been following the policy of reconciliation, and that the PML-N should support the PPP in this regard.The newly appointed information secretary said the 17th Amendment would be abolished "at an appropriate time" and that the PPP had distributed a draft amendment among political parties. Fauzia Wahab said the PPP was not in favour of governor's rule in Punjab and wanted the party that had the support of the majority in the provincial assembly to form government. She also said rivals of the PPP had been conspiring to eliminate the party from Punjab. To a question, she said former information minister Sherry Rehman was asked to accept another portfolio or step down. She said the PPP government was not against the freedom of media but added that the media should behave responsibly.
Posted by: Fred ||
03/23/2009 00:00 ||
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(IsraelNN.com) Outgoing Prime Minister Ehud Olmert lashed out viciously at Labor leader Ehud Barak Sunday because of his intention to join a government headed by Likud's Binyamin Netanyahu. Without naming names, Olmert said at the weekly cabinet meeting: "Whoever thinks that he can create international cooperation on the subject of Iran, on the basis of a policy that will kill any chance of a political agreement with the Palestinians and the Syrians, is suffering from delusions."
"Whoever believes in that," Olmert said, "all I can say is that I am sorry about his belief. But whoever does not believe in that, yet cooperates with it -- I can say that I feel sorry for his villainous nature."
The first part of his declaration was a hinted reference to Netanyahu. The second was a reference to Barak.
Olmert had more hinted barbs for Netanyahu and Barak: "He who wants to establish a government that will ignore the two-state solution, and who finds a numerical majority for that, will again prove that sometimes, a majority based upon foreign considerations can lead a country to the mouth of the abyss," he said -- referring to Netanyahu.
Again referring to Barak, Olmert added: "Those who, in the depth of their hearts, know the truth but prefer other considerations that have nothing to do with the good of the state, I say that they will not be cleansed. Israeli history will not forgive them."
Sources in Barak's bureau said in response that they "do not intend to be drawn into reactions to the pathetic attempts, which Olmert is having difficulty hiding, to hurt Defense Minister Barak in any way and at any cost. Olmert would do better to retire quietly and allow the political arena to function for the best interest of the state."
Posted by: Fred ||
03/23/2009 00:00 ||
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(Xinhua) -- Israel's Labor party chief Ehud Barak on Sunday set up a team to negotiate a possible coalition agreement with Prime Minister-designate Benjamin Netanyahu's Likudparty.
Labor has certain demands concerning economic, social and security issues, and "deliberations on these issues have yet to be exhausted and seeing eye to eye on them is pivotal to an agreement," said Barak's office in a statement.
The current defense minister, who recently voiced interest in joining the new administration yet met with heavy internal pressure, is trying to shape his interests ahead of a crucial party meeting scheduled on Tuesday, reported local news service Ynet.
Posted by: Fred ||
03/23/2009 00:00 ||
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Google has removed dozens of photos from its Street View service following complaints from web users. Among the images removed so far are a picture that shows a man being sick near Shoreditch High Street, another one of a man entering a sex shop in London, and an image that shows a group of people being arrested.
The offending images have instead been replaced with a black screen and the words: "This image is no longer available". But, but, inquiring minds want to know...
A spokesman for Google could not confirm the exact number of images removed, but said it had been "less than expected". "We're still 'reviewing' a few images of young men and young women, and may be doing so for some time."
"When we launched the service, we explained how importantly we take privacy and we explained how easy it is to remove pictures. We have received a few removals in the last 24 hours but it is less than expected.
"The tools are there for users to remove pictures they are not happy with. We are pleased that the tools we developed are working well."
Every image in Google Street View contains a link which users need to click on in order to "Report a concern" with the picture. They must then fill out a form identifying the area of the picture that is of concern, and the reason why they are requesting its removal. Google said that it aimed to resolve disputes about flagged images "very, very quickly".
Google has already confirmed that it will happily remove images of people's homes if they do not want the building to be visible in Street View. The company has a dedicated team whose job it is to assess requests for removal and ensure inappropriate images are taken down. We actually had one of our hobby vehicles parked in the driveway for sale at the time the Google-Photo folks came by. Just think, a Billion people could gaze at a '65 Fairlane convertible. It sold, but not to someone in China.
Google said it had used cutting-edge technology to automatically blur the faces of people captured in the photos, as well as the number plates on cars. But internet users have already found several instances where this blurring technology has not worked, leaving people clearly identifiable.
"The images you see on Street View are the same images you would see if you were to walk or drive down the road yourself," said Ed Parsons, a geospatial technologist at Google. "The rule of thumb is: if you or I can drive down a public road, then our camera cars can too."
Google has mapped the streets of more than 25 major cities across the UK, covering more than 22,369 miles of road since the project started last summer.
However, privacy campaigners have expressed concerns about the Street View service. "These images are being captured without people's permission for commercial use, and we believe that it is not legally acceptable," said Simon Davies, director of Privacy International. "They are also putting into place a system for updating these images in the future, and for storing the images digitally where they could be misused." "But they won't tell us where!"
Posted by: Mullah Richard ||
03/23/2009 10:06 ||
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Simon Davies is a moron. Hey Simon, if you want that level of privacy stay in and close all your curtains.
REDONDO BEACH, Calif., March 18, 2009 (GLOBE NEWSWIRE) -- Reaching new heights with its scalable building block approach for compact, electric laser weapons, Northrop Grumman Corporation (NYSE:NOC) has produced the most powerful light ray yet created by an electric laser, measured at more than 105 kilowatts (kW).
You only need 50K for many military weapons uses!
105KW should take care of most possible uses
Maronite Patriarch Nasrallah Butros Sfeir called for "reflecting on the repercussions" of amending the law allowing 18-year-olds the right to vote prior to passing it. During his Sunday sermon at the Notre Dame Cathedral in Bkirki Sfeir said: "The issue of voters' age has become a subject of discussion. One has to contemplate repercussions before ratification." Lebanon's Parliament on Thursday approved a bill lowering the voting age from 21 to 18 but the measure will not come into effect in time for the June parliamentary election. The law needs to be cleared by the Cabinet within four months before being ratified. Lebanon's electoral law was amended last September ahead of the June 7 vote which will pit the March 14 Forces against the opposition. But MPs at the time refused to adopt some amendments including lowering the voting age and introducing a quota for women in Parliament. Also in his Sunday sermon, Sfeir said Pope Benedit XVI's Africa tour reflects the efforts of the Catholic church in assisting the continent's residents combat all sorts of aliments.
Posted by: Fred ||
03/23/2009 00:00 ||
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The Ann Arbor News announced Monday that it will follow in the footsteps of the Seattle Post-Intelligencer by abandoning its daily newspaper format in favor of delivering stories online. The 174-year-old Michigan newspaper, operated by the Booth Newspapers arm of Advance Publications, said it would publish its final print edition in July.
The daily newspaper will die only to be replaced by an Internet news operation, AnnArbor.com.
"This is a difficult day for all of us at The Ann Arbor News," publisher Laurel Champion said in a letter published in Monday's edition. "As we say hello to AnnArbor.com, we will say goodbye to The Ann Arbor News."
The news website will be complemented by a "print product" two days each week, according to the publisher.
The announcement comes as three other Michigan newspapers revealed they would stop publishing daily and, instead, provide printed editions only on three days of each week.
Michigan is among the US states hardest hit by job losses, with the unemployment rate swelling to 11.6 percent in January.
"While we are inviting current Ann Arbor News employees to apply for positions with the new company, it is with a heavy heart that I let you know that job losses will be unavoidable," the publisher wrote.
The shift to online publication results from readers and advertisers turning increasingly to the Internet to get news and spread messages, Champion noted.
The Seattle Post-Intelligencer printed its final edition last week and became an online-only publication. As the 146-year-old newspaper rolled off the presses for the last time, SeattlePI.com, the website of the P-I, as the daily was known, looked toward the digital future. "One era ends, another begins," read a headline on a story on the P-I website.
#1
I can understand the gloating that liberal media outlets are being shutdown, but at the same time I'm a printing press manufacturer so this does not bode well for me or my company economically. Besides does the closing of the paper somehow limit the spread of leftist ideology?
#2
I can understand that a big-town paper might fail, but Ann Arbor isn't a big town. A small town paper just has to pay attention to the local news, the realtors and the local businesses to survive.
Posted by: Steve White ||
03/23/2009 15:56 Comments ||
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Besides does the closing of the paper somehow limit the spread of leftist ideology?
Maybe the Ann Arbor News is caving in to tree huggers. Or maybe they think they are embracing a "green" policy. Or maybe they figure they are going to be in line for carbon credit swaps. Ann Arbor is a liberal area. Or maybe they recognize that many people get their news from the internet. Our local newspaper has a paper version and an internet version. I wouldn't be surprised if the paper version goes away at some point.
#4
Besides does the closing of the paper somehow limit the spread of leftist ideology?
By shifting it on line, the playing field becomes more even. The left has owned the means of communications for so long, ie MSM. Now with the net, they can still spread their bias, but the cost of participating in the process has been made 'democratic' by technological mass production. It's not just for the rich anymore, than were cars and appliances which today we take for granted as being 'middle class'. As the failures of legions of editors and fact checkers has demonstrated, they are no better in the quality of their product than others. In fact, the net was allowed real 'experts' to finally be heard on numerous issues that would otherwise be buried down the memory hole of the inner party.
#1
Technically the only way a country can go bankrupt is by issuing debt in a currency other than its own (and then being unable to repay the debt), which the USA is unlikely to ever do.
The outcome will be hyper-inflation rather than bankruptcy as the government cranks up the printing presses to pay its bills.
#5
Darth I think phil is correct here. The big problem here will be inflation driven by trillions of dollars of deficits.
I lived through Jimmuh's disaster when those on a fixed income were clobbered by inflation rates of 10%. Now I'm the one on the fixed income as a "coerced" early retiree thanks to the crash of the economy. Despite saving as much as possible for the last 30 years I'll be in deep sneaks in a couple of years.
#6
I'm not convinced either, Beso. There are a lot of calls for a new global currency from all the regular nutjobs to the World Bank. They would love to bankrupt the US.
That is what Kyoto was about. Now they're getting a taste of the consequences before they had contingency plans in place. Hope they enjoy the next decade treading water without the life preserver.
Somebody remind me about what the Book of Revelation says about the Antichrist.
I think I see a pattern developing ...
Posted by: Bobby ||
03/23/2009 12:03 Comments ||
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#9
Expect moves toward a global currency, likely the World Bank's Special Drawing Rights.
Although a currency not backed by a state and the revenues of a state will be a disaster because no one has any incentive to maintains its value, which is the point of a currency (otherwise we would all just barter).
The administration of Barack Obama, the US president, has defended its plans to buy up billions of dollars of so-called toxic assets from banks in an attempt to encourage lending.
Christina Romer, who chairs Obama's council of economic advisers, said on Sunday that the White House would put about $100bn into its latest initiative to shore up the economy.
Initial government funding for the scheme, which aims to ease borrowing for consumers and businesses, would come from the existing $700bn Wall Street bailout programme, Romer told CNN.
"The crucial thing is getting lending going again. I can't say that enough, and that is why we're doing this," she said.
"The crucial thing is it's being designed precisely so that it is going to be safe. We very much have the taxpayers' interest in mind, but we also have the interest of the whole economy on the mind."
Private investors will also be encouraged to help get billions of dollars of the toxic assets - purchases made by the banks that exposed them to large losses - off their balance sheets.
Posted by: Fred ||
03/23/2009 00:00 ||
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#1
Banks will only get back into lending when they perceive that the system is rebooted with integrity in the process. Buying up toxic paper only puts money on the banks' books and not into the economy. If you want money back into the economy, skip the banks by re-chartering the First Bank of the United States and become the direct lender. Then banks either compete or watch their depositors and business move on to other opportunities.
#4
Markets seem to like what they've heard so far.
Well, yeah! The serfs are going to be forced to suck up their waste. I say 'their' to include all their 'representatives' who are on their bribe campaign donation rosters.
#5
Even Paul Krugman shot down this plan as it attempts to leave the launch pad: "the real problem with this plan is that it wont work. Yes, troubled assets may be somewhat undervalued. But the fact is that financial executives literally bet their banks on the belief that there was no housing bubble, and the related belief that unprecedented levels of household debt were no problem. They lost that bet. And no amount of financial hocus-pocus for that is what the Geithner plan amounts to will change that fact. "
#6
Unless Krugman is talking about International Trade, he is really not much of an authority.
Whatever else might be said of Tim Geithner, he has experience at the Federal Reserve Board and he was part of the 'rescue' of Bear Stearns and did a stint in the Dept of the Treasury a decade ago. The plan he came up with (which I admit is something he should have come up with weeks ago) has a lot of iffy stuff, including downside risk to the taxpayer, but there is a lot of upside potential here. Healthy regional and national banking is in the interest of both Wall Street and Main Street.
#7
Whatever else might be said of Tim Geithner, usually implies that the next thing to be said would be in his favor. His involvement in the crisis so far does not speak well of his understanding & abilities to solve it. I don't see the upside potential to bailing out so many terminally ill (insolvent) banks.
A multi-volume chronology and reference guide set detailing three years of the Mexican Drug War between 2010 and 2012.
Rantburg.com and borderlandbeat.com correspondent and author Chris Covert presents his first non-fiction work detailing
the drug and gang related violence in Mexico.
Chris gives us Mexican press dispatches of drug and gang war violence
over three years, presented in a multi volume set intended to chronicle the death, violence and mayhem which has
dominated Mexico for six years.
Rantburg was assembled from recycled algorithms in the United States of America. No
trees were destroyed in the production of this weblog. We did hurt some, though. Sorry.
Venezuelan President Hugo Chavez says his US counterpart is clueless about the 'reality of Latin America', urging him to 'read and study'. 
LAHORE: The General Council of Pakistan Muslim League-Nawaz (PML-N) is meeting here on Monday in which Mian Nawaz Sharif will announce the national agenda.
(IsraelNN.com) Outgoing Prime Minister Ehud Olmert lashed out viciously at Labor leader Ehud Barak Sunday because of his intention to join a government headed by Likud's Binyamin Netanyahu. Without naming names, Olmert said at the weekly cabinet meeting: "Whoever thinks that he can create international cooperation on the subject of Iran, on the basis of a policy that will kill any chance of a political agreement with the Palestinians and the Syrians, is suffering from delusions."
The Ann Arbor News announced Monday that it will follow in the footsteps of the Seattle Post-Intelligencer by abandoning its daily newspaper format in favor of delivering stories online. The 174-year-old Michigan newspaper, operated by the Booth Newspapers arm of Advance Publications, said it would publish its final print edition in July. 
The administration of Barack Obama, the US president, has defended its plans to buy up billions of dollars of so-called toxic assets from banks in an attempt to encourage lending.
