thedynamictrend.com

Wednesday, November 15, 2006

The anti-globalization culture jamming group The Yes Men recently delivered a presentation at a Wharton Business School conference on trade and investment in Africa.

A performance artist, using the name Hanniford Schmidt, pretending to be a WTO representative, announced a new WTO initiative for “full private stewardry of labor” in some parts of Africa. His talk attempted to make clear that this meant slavery.

“This is what free trade’s all about,” said Schmidt. “It’s about the freedom to buy and sell anything—even people.”

Schmidt reported that “One conference attendee asked what incentive employers had to remain as stewards once their employees are too old to work or reproduce” but that “there were no other questions from the audience that took issue with Schmidt’s proposal.”

Wharton Business School placed a notice on the conference site stating that their invitation of Schmidt had been based upon his misrepresentation of himself as a representative of the WTO, and that they do not endorse his views.

Monday, October 2, 2006

Buffalo, New York —Sam Savarino, CEO of Savarino Companies, the development company to be in charge of building the Elmwood Village Hotel at Forest and Elmwood Avenues in Buffalo, New York has told Wikinews in an exclusive interview that the contract to buy the properties from 1109-1121 on Elmwood Avenue in Buffalo has been “extended,” but would not elaborate on how long the extension would last.

“We have extended our agreement to purchase the property and will have it under contract for what we hope is a sufficient period of time,” said Savarino.

The hotel would require the demolition of the five properties on Forest and would cause several businesses to relocate or close their doors. The hotel will be 72 rooms and will cost at least 7 to 10 million dollars to build. Wyndham Hotels is expected to be the owner/operator of the hotel. The properites are still owned by Hans Mobius. Two other properties, 605 and 607 Forest might also be part of the proposal, but lawsuits have so far stopped any development from taking place.

Savarino also stated in a recent interview with Wikinews that his company may be “about ready for round two” in the process of resubmitting the hotel proposal to the City of Buffalo’s Common Council and Planning Board.

“If we were to go through the re-zoning process again it could be arduous,” said Savarino.

In July, Savarino “withdrew” the proposal which is undergoing a “do-over,” according to Vice President of Savarino Companies, Eva Hassett.

In related news, several residents around the area of the proposed hotel were speculating that current roadwork to repair and add sewer lines on Forest Avenue were part of the construction process for the proposed hotel. Savarino has denied those claims.

“We are certainly not doing any work on the site nor is any work being performed on our behalf or at our direction [in relation to the hotel],” said Savarino.

So far, the proposal has not been resubmitted to the City’s Common Council or Planning board and there is no word on when the proposal will be resubmitted.

Wyndham Hotels, which is owned by Cendant Corporation, has not commented on the proposal despite several attempts to contact them.

Saturday, August 2, 2008

A 54-year-old German farmer who lost both arms in a farming accident six years ago has become the first patient to receive a complete double arm transplant. The patient, whose name has not been released, underwent the operation at the Klinikum rechts der Isar, part of the Technical University of Munich (Technische Universität München), last week; he is said to be recovering well.

The operation lasted 15 hours and was performed by a team of 40 specialists in Plastic Surgery, Hand Surgery, Orthopedics and Anesthesiology, under the direction of the head of the Plastics and Hand Surgery department, Prof. Hans-Günther Machens, Dr. Christoph Höhnke (Head of Transplants, Senior Physician; Plastics and Hand Surgery) and Prof. Edgar Biemer, the former Chief of Plastic Surgery at the Clinic.

In a press statement released by the clinic, it was revealed that the patient had been thoroughly physically checked and had psychological counselling prior to the surgery to ensure he was mentally stable enough to cope with the procedure. Since completion of the surgery, the patient has been on immuno-suppressant drugs to prevent rejection of the new limbs.

Following the surgery, the press release from the clinic’s press manager, Dr. Tanja Schmidhofer, included the following statement:

Without the immuno-suppressant drugs given to the patient, the risk of there being a Graft-versus-Host Reaction or GvHR, would have been significant due to the upper arm containing a large amount of bone marrow, consisting of ICC’s or Immuno-Competent Cells, which would have triggered a near total rejection of the new limbs. A GvHR is a condition which results in the cells from the transplant attacking the immune system of the body.

Indications from the clinic suggest that the double attachment went well, although it could be up to 2 full years before the patient is able to move the arms.

The donor arms came from an unnamed teenager, who is believed to have died in a car accident.

Sunday, September 28, 2008

The United Kingdom is set to become the second European country to place graphic images on cigarette packets. 15 different images are to be placed on the packs of all brands of cigarettes. They will be introduced on October 1. The images will be introduced onto all other forms of tobacco by 2010.

The written warnings were introduced in 2003 and have been deemed a success by the Department of Health. A spokesman said that the written warnings had been a success with research showing more than 90,000 smokers had been motivated to call the NHS quit line because of them.

Despite being the only the second country in Europe to introduce the images several other countries have already placed them onto packets. These include Canada, Australia, Brazil, New Zealand and Singapore.

Chief medical officer Sir Liam Donaldson said: “Written health warnings have encouraged many smokers to stop. These new stark picture warnings emphasis the harsh health realities of continuing to smoke.”

Not everyone is welcoming the new images. The smoking lobby group, Forest, said smokers were being unfairly targeted and called the images intrusive and offensive. Simon Clark, director of Forest, said the group supported education efforts “but these pictures are designed not just to educate but to shock and coerce people to give up a legal product”.

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Tuesday, July 12, 2005

Doctors at the regional burn center at St. Joseph Hospital in Fort Wayne, Indiana are treating a patient flown in from war-torn Afghanistan.

U.S. Army’s 113th Battalion, which is made up of Indiana National Guardsman, discovered five-year-old Zia after a propane explosion in suburban Kabul] earlier this year destroyed homes and killed six of the boy’s family members.

The blast left Zia with third degree burns on his arms, torso and legs. Guardsmen, familiar with the Fort Wayne burn center, worked with non-profit group, Northeast Indiana Burn Council to raised $18,500 to fly Zia, accompanied by his father Abdul Qahir, to Fort Wayne for treatment.

Upon arrival, he was rushed to the St. Joseph burn unit, where after a few days of recovery fromtravel, underwent his first surgery June 23. The second and final surgery was postponed ninedays from an original date of July 2 because the boy developed an infection in one of his wounds,which is common for burn patients.

The second surgery grafted skin onto burn wounds on Zia’s arm, chest and the second toe on hisright foot. Tuesday, doctors said Zia was recovering and appeared to be in good spirits. Inpreparation for their planned return trip to Afghanistan in September, doctors are teaching Zia’sfather physical therapy techniques needed for further recovery. “Without good therapy, he couldbe right back where we started,” Dr. John Mancoll, the lead surgeon on the case, said in aninterview with the Fort Wayne Journal Gazette newspaper.

Thursday, October 3, 2013

A review this week by Wikinews of US Consumer Financial Protection Bureau (CFPB) complaints about mortgages in the United States shows Bank of America leads all lending institutions in complaints.

Since mortgages complaints were recorded in December 2011, 77,622 total have been added to CFPB’s database. 29.2% of these complaints involved Bank of America, with the second most received by Wells Fargo, accounting for 15.5% of all complaints. JPMorgan Chase ranked third by volume of complaints with 9.8%. Ocwen was fourth with 8.7% and Citibank was fifth with 4.8%. Nationstar Mortgage; Green Tree Servicing, LLC; HSBC; PNC Bank; U.S. Bancorp; OneWest Bank; SunTrust Bank; Flagstar Bank; and Select Portfolio Servicing, Inc. each had between 1.0 and 3.8% of total complaints. The remaining 14.4% of all complaints about consumer mortgages were divided between about 530 other lending institutions.

The Motley Fool reported last month that for the past fiscal quarter, the biggest US based mortgage lenders were from first to fifth Wells Fargo, JPMorgan Chase, Bank of America, Quicken Loans and U.S. Bancorp.

According to the US Federal Reserve, debt for family residences stands at US$10.706 trillion for the second quarter of 2013. As of the end of June of this year, Bank of America is the United States’s second largest commercial bank with US$1.343 trillion in domestic assets. Wells Fargo is the fourth largest commercial bank with US$1.251 trillion in domestic assets. JPMorgan Chase is the largest US commercial bank with US$1.329 trillion in domestic assets and US$1.947 trillion in total assets.

The mortgage complaints in the CFPB report include several subproducts. Conventional fixed mortgages account for 27.1% of all complaints. Conventional adjustable mortgages account for 10.0%. FHA mortgages account for 7.7% of all complaints. Home equity loans or lines of credit account for 3.8% of all complaints. VA mortgages are 1.4% of all complaints. Second mortgages and reverse mortgages each account for 0.6% of complaints. The remaining 48.7% of complaints are about other mortgages or other mortgage issues. A few years ago, FHA loans accounted for about 10% of all US mortgages while VA loans accounted for about 3%. Prime loans accounted for over 75% of the market and the rest were subprime mortgages.

California leads all states by volume of complaints with 14768. It is followed by Florida, New York, Georgia and Texas. When complaints are divided by a state’s total population, New Hampshire leads. The state is followed by Washington D.C., Maryland, Georgia and Florida. Complaints do not correlate with national rankings for August’s foreclosure rate by state where Nevada topped the list, followed by Florida, Ohio, Maryland and Delaware.

Two zip codes account for over 1,000 total complaints between them. 565 complaints originated in the 48382 zip code, which is in Commerce Township, Michigan, located in suburban Detroit. 553 complaints originated in the 33071 zip code, in Coral Springs, Florida. According to real estate website Zillow, there are currently 1,033 properties in foreclosure in Coral Springs while Commerce Township only has 131 properties currently in foreclosure. Four other zip codes have 100 plus complaints originating from them. 91730, in Rancho Cucamonga, California, had 158 complaints. 33409, in West Palm Beach, Florida, had 132. 92626, in Costa Mesa, California, had 125 complaints. 92660, in Newport Beach, California, had 122 complaints. Respectively, the towns had 534, 1,068, 153, and 134 properties currently in foreclosure. These numbers are higher than for the cities of a few sampled zip codes where there was only one complaint, such as Gold Hill, Oregon which has 4 properties in foreclosure, and Decatur, Illinois which has 6 properties in foreclosure.

The CFPB categorizes complaints into six categories: “Loan modification, collection,foreclosure” or problems when a person is unable to pay; “Loan servicing, payments, escrow account” or problems with making a payment; “Application, originator, mortgage broker”; “Credit decision / Underwriting”; “Settlement process and costs”, and “Other”. The CFPB says the complaint types indicate consumers “appear to be driven by a desire to seek agreement with their companies on foreclosure alternatives. The complaints indicate that consumer confusion persists around the process and requirements for obtaining loan modifications and refinancing, especially regarding document submission timeframes, payment trial periods, allocation of payments, treatment of income in eligibility calculations, and credit bureau reporting during the evaluation period.” Currently, 59.6% of all complaints against lenders deal with being unable to pay. 25.1% deal with problems in making a payment. 7.0% have to do with the application process.

Of the complaint-heavy zip codes, for 48382 in Commerce Township, Michigan, 98.9% of all complaints have to deal with being unable to pay. Accounting for 23.4% of all mortgage complaints in Commerce Township, 132 of the complaints for being unable to pay were made regarding Bank of America, accounting for 97.8% or all but 3 complaints against them from the zip. 121 of the Bank of America responses in Commerce Township were closed with explanation and 12 were closed with non-monetary relief. 33071 in Coral Springs is different, with 537 of the 553 complaints being categorized under other. Only 11 complaints relate to foreclosure and issues with being able to pay. 92626 in Costa Mesa, where 32% of the mortgage complaints were about Bank of America and 26.4% were about Wells Fargo, had 93.6% of its complaints dealing with being unable to pay. 5 total complaints dealt with payment issues and 3 dealt with applications.

Beyond regional variance in complaint types lodged, the top five mortgage lenders by volume of complaints all had being unable to pay as their top complaint category, ranging between 55.8% for Citibank and 69.4% for Bank of America. Problems with payment accounted for the second largest area of complaints, with Ocwen having the largest percentage of complaints at 31.9% and Bank of America having the smallest at 18.8%. Foreclosure was the top area of complaints for a number of other lending institutions including 1st Alliance Lending, OneWest Bank, Ally Bank, Banco Popular de Puerto Rico, Bank of the West, BMO Harris, BOK Financial Corp, Caliber Home Loans, Inc, Capital One, Deutsche Bank and EverBank.

Nationally, complaints reached a high of 5,840 for January 2013, 1,107 more than the next highest month of April 2013. The total emerging for September is the second lowest since records were first kept in December 2011. On a state by state level, this pattern largely repeats with a major exception for Florida which saw a peak of 849 complaints in June 2012. Then, as now, Florida was one of the top five states in the nation in its foreclosure rate. The national January spike came as the Qualified Mortgage standard required by the The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 came into play. It required mortgage lenders to take steps to insure borrowers could repay their mortgages.

Bank of America’s complaint volume follows the national trend, with a spike in January 2013 with 1,925 total complaints. Unlike nationally, the next month by volume of complaints was February of this year with 1,598 complaints. Prior to that, the highest month was May 2012 with 1,418 complaints. The lowest volume of complaints is September this year with 334.

Wells Fargo matched national trends for volume of complaints by month, with the exception of the current month being the lowest on record for number of complaints with 197 compared to the next lowest month, December 2011, when they had 221. JPMorgan’s complaint volume by month spiked in January and March of this year with 504 complaints. April of this year was the next highest month with 493 complaints, edging out May of last year with 488 complaints. September this year is on track to be the lowest month by complaint volume.

The federal government shutdown is unlikely to impact the current mortgage situation in the United States directly for most consumers, though mortgage processing by the Federal Housing Administration could be slower, resulting in fewer mortgages processed.

Monday, September 24, 2007

Marion Schaffer is running for the Green Party of Ontario in the Ontario provincial election, in the Oakville 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.