Saturday, July 20, 2013

DubV replied to JY : MLB Friday 19th July 2013 in Baseball .

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    Michael Geist: Telus Attacks: The Battle To Keep Verizon Out of Canada

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    Telecom giant Telus has had an eventful week as it moves from claiming that Canada "really should be the most expensive country for wireless service in the OECD" to increasing its prices in the shift toward two-year contracts to now declaring war on the government's commitment to injecting greater competition into the Canadian marketplace. While the comments that something less than the highest prices in the developed world are a "great success story we should be celebrating" generated considerable media attention (here, here and here), the bigger long-term issue is the full-court lobbying press to stop the entrance of new competition.

    Yesterday, Telus CEO Darren Entwistle was campaigning at the Globe and Mail and National Post, warning of a "bloodbath" if the government sticks with its commitment to allow for a set-aside of spectrum for new entrants such as Verizon. Telus is concerned that a set-aside would allow Verizon to purchase two of the four available blocks, leaving the big three to fight it out over the remaining two blocks. Telus emphasized its prior investments in arguing for a "level playing field" in the auction.

    Yet to borrow Telus' phrase - "scratch the surface of their arguments and get to the facts" - and it becomes clear the fight is not about level playing fields since new entrants have been at a huge disadvantage for years in Canada. Indeed, even with a spectrum set-aside, there would not be a level playing field as companies such as Telus would have big advantages that include restrictions on foreign ownership for broadcast distribution (thereby blocking Verizon from offering similar bundled services), millions of subscribers locked into long term contracts, far more spectrum than Verizon would own, and its shared network with Bell that has saved both companies millions of dollars.

    While the companies frame their arguments around level playing fields, the real goal is simply to keep competition out of the country. For Verizon (or any major new entrants), a spectrum set-aside will be crucial since it is the only way to obtain sufficient spectrum (when combined with the existing spectrum from Wind Mobile and Mobilicity) to establish a viable fourth wireless network that could compete directly with the big three incumbents. If Telus gets their way, the removal of the set-aside would kill the government's stated goal of a viable fourth carrier since there would be little reason for Verizon to enter the country only to face many of the same disadvantages that has hamstrung the smaller new entrants.

    Moreover, if there is a sense of deja vu about the Telus arguments, it is because it made the same "level playing field" and big investment arguments back in 2007 to argue against a set-aside in that spectrum auction. For example, in June 2007 it stated (though notably on the same day it argued for a set-aside to address competition concerns arising from a proposed Bell - Telus merger):

    We strongly believe that the competitive playing field should be free from government intervention so that companies can compete fairly for customers. Over the span of a few years, Telus evolved from a regional provider of wireless services in Alberta and B.C. to a leading national carrier. We accomplished this not by seeking regulatory benefits, but by investing more than $7 billion in a national wireless network that delivers advanced wireless services like mobile TV and satellite radio across the country.

    In the early days of spectrum allocation, these same companies argued for a regulated approach to assist with their entry into the market. In 1984, the government allocated its first block of spectrum for wireless services, specifically reserving spectrum for Cantel (later Rogers), who benefited from no upfront payments and regulations that mandated that the incumbent providers could not provide service in a given region before Cantel established service there. In 1995, the government again adopted a regulated approach to the allocation of spectrum for PCS services, setting aside spectrum for the two new entrants - Microcell and Clearnet - that are today owned by Rogers and Telus.

    Make no mistake: the Telus lobbying campaign will be joined by Bell and Rogers as the three companies spend millions of dollars in advertising and lobbying to keep the Canadian market free from much needed competition (the Wire Report reports that ten board members each from Telus and BCE have registered to lobby the government on spectrum). The government has insisted that it will do whatever is necessary to ensure greater competition and consumer choice in the wireless sector. The potential Verizon entry into Canada - undoubtedly conditioned on a spectrum set-aside - is precisely what is needed. In this case, sticking with its policy by siding with consumers and greater competition has the dual advantage of being both good policy and good politics.

    ?

    Follow Michael Geist on Twitter: www.twitter.com/mgeist

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    Source: http://www.huffingtonpost.ca/michael-geist/telus-canada_b_3625415.html

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    Friday, July 19, 2013

    Washington Federal acquiring 51 Bank of America branches

    SEATTLE (AP) - Seattle-based Washington Federal is acquiring 51 Bank of America branches in eastern Washington, Oregon, Idaho and New Mexico.

    The company announced the move Friday with its earnings report and also said it has completed its conversion to a national bank charter.

    The acquisitions will give Washington Federal a total of 236 branches. The additions:

    Washington: Clarkston, Cle Elum, Chelan, Chewelah, Colfax, Colville, Dayton, Deer Park, Leavenworth, Moses Lake, Newport, Odessa, Omak, Pullman, Quincy, Republic, Walla Walla and two in Wenatchee.

    Idaho: Four in Boise, Gooding, Hailey, Idaho Falls, Ketchum, Nampa, Osburn, Payette, Pocatello, Salmon, Sandpoint and Twin Falls.

    Oregon: Hermiston, Hood River, La Grande, Milton-Freewater, Ontario and The Dalles.

    New Mexico: Angel Fire, Chama, two in Clovis, Espanola, Hobbs, Raton, Roswell, two in Silver City, and Socorro.

    Source: http://www.keprtv.com/news/local/Wash-Federal-acquiring-51-Bank-of-America-branches-216162511.html

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    Transport Canada mum on rail safety rules

    Transport Canada won?t say what the minimum requirements are for making sure a parked train won?t roll away and it won?t disclose the rules set by the rail companies for keeping unattended trains with potentially dangerous goods stationary.

    The CBC asked Transport Canada to clarify the rules for tying down a train a few days after the Lac Megantic tragedy. More than two days later, the response ignored the specific request for minimum requirements and referred to the Canadian Rail Operating Rules.

    The guidelines in the CROR, however, lack specificity on parking trains.

    Section 112, on "Securing Equipment", says: "When equipment is left at any point a sufficient number of hand brakes must be applied to prevent it from moving. Special instructions will indicate the minimum hand brake requirements for all locations where equipment is left."

    The section goes on to discuss parking a train on a siding, and to specify that hand brakes need to be fully tested before they can be used to secure equipment.

    Eight days after the initial request, Transport Canada continues to rebuff CBC's inquiries with vague answers.

    "The rules provide specific instructions for the use of hand brakes to prevent the train from moving when equipment is not in use," it said in an email to CBC.

    "Each railway has instructions that further specify how many handbrakes are applied. These instructions also govern special circumstances such as a grade. The handbrake requirements are not load specific. Requirements are determined by the amount of cars, terrain, etc."

    NDP MP Olivia Chow said that's not good enough.

    "Canadians need to know that the trains coming through their neighbourhoods are safe," Chow said on Thursday.

    That's why the Conservatives should not hide the operations of these trains, said Chow, vice chair of the House of Commons transport committee.

    "If there's nothing to hide, come clean. Tell Canadians what the operations are and whether they are safe or not."

    Lac-M?gantic

    In the early morning of July 6 a Montreal, Maine and Atlantic train, which included five engines, a boxcar and 72 cars of crude oil, left its parking spot in Nantes, Que., near the Maine border, and rumbled downhill into Lac-M?gantic. The crude oil cars separated from the engines and boxcar, and two explosions and a fire engulfed the town of 6,000.

    Rescue officials have recovered 42 bodies and at least eight people are still believed missing.

    The causes of the explosions are still a mystery, but what has consumed rail experts is what precautions did MMA locomotive engineer Tom Harding take to secure the train. Did he comply with MMA's own internal special instructions for that stretch of rail? Did the MMA guidelines meet the requirements of Transport Canada?

    The company originally said after the accident that Harding had put on the air brakes and left the engine running when he jumped in a taxi to go to a hotel for the night. It also said that Harding applied the appropriate number of hand brakes. A fire started in the main engine, and the firefighters who extinguished the fire were accused of shutting down the engine, which released the brakes.

    A fire burned for nearly 24 hours after a train derailment in downtown Lac-M?gantic, Que., on July 6 after a train operated by MMA railways came off the tracks, spilling crude oil and causing explosions in the town of 6000. 42 bodies have been recovered.A fire burned for nearly 24 hours after a train derailment in downtown Lac-M?gantic, Que., on July 6 after a train operated by MMA railways came off the tracks, spilling crude oil and causing explosions in the town of 6000. 42 bodies have been recovered. (Paul Chiasson/Canadian Press)

    Last Wednesday, MMA chairman Ed Burkhardt confused the debate by saying Harding "told us he applied 11 hand brakes and our general feeling is that now, that is not true."

    That the CROR allows individual companies to set their own special instructions creates confusion, says Ian Naish, a consultant with 27 years in transportation safety.

    "The rules that are applied by Transport Canada, Rule 112, says that sufficient number of hand brakes must be applied when you are stopping a train and leaving it for a bit," explained Naish. "Well how do you define that? Various railways have defined it different ways for various types of grades, or types of trains.

    "The way the regulatory system has operated for the last 20 to 25 years is, basically, the railways are responsible to regulate themselves, and the federal government is the overseer, the watcher of the way they operate."

    Canadian Pacific, which has traditionally had the strictest rules on securing trains because of the risks of having steeper lines through the Canadian Rockies, sent out new general operating instructions to its employees last week in anticipation of stricter Transport Canada rules.

    On Thursday morning, new Transport Minister Lisa Raitt said if there are going to be any new rules coming from Transport Canada, "I'll be the one announcing them. As for Canadian Pacific, I'm very pleased to see they're taking a look at theirs and I spoke to CN this week and they?re doing the same."

    Company rules on 'braking, securement' kept secret

    The Montreal, Maine and Atlantic, CN and CP have refused to share their special instructions with the CBC, calling them proprietary, and Transport Canada said they can?t release it because "this type of information is not in the public domain, as it involves a third-party."

    But an investigator with the Transportation Safety Board, which has looked at a long list of runaway trains, derailments and crashes, told the CBC that the rules are "vague and unclear."

    The investigator, who spoke on condition of anonymity, cited the 13 CN coal cars that slid downhill last year in Hanlon, Alta., crashing into a parked train.

    The TSB concluded the rules were unclear, CN's standards were inadequate and the staff had problems calculating just how many cars need to be locked down by hand.

    Chow argues that Transport Canada has ignored too many recommendations, not only from the Transportation Safety Board but also a scathing report by the Auditor General in 2011 which says alarm bells were raised in 2005 about transporting dangerous goods.

    "Transport Canada said it would take a year or two to implement the auditor general's recommendations, but these are not new problems," said Chow.

    "It's been eight years that they had no comprehensive list of what's being transported, what's the performance standard and what's the quality assurance program" for transporting dangerous goods.

    "That?s not acceptable."

    The answer, says Chow, is not a public inquiry, but transparency and strong government.

    "Without transparency we don't know who is accountable," she told CBC Thursday. "Why do we need a government if they don't regulate?"

    Source: http://www.cbc.ca/news/canada/story/2013/07/18/transport-canada-rail-safety.html?cmp=rss

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    Thursday, July 18, 2013

    China's economy slows for second straight quarter, testing reforms

    Economy

    July 15, 2013 at 7:54 AM ET

    A Chinese man rides a delivery bike past a propaganda bill board with the words "China, Forward!" in Beijing, China, Monday, July 15, 2013.

    Ng Han Guan / AP

    A Chinese man rides a delivery bike past a propaganda bill board with the words "China, Forward!" in Beijing, China, Monday, July 15, 2013.

    China's economic growth in the second quarter of the year may not have slowed as much as some had feared, but a large degree of uncertainty about the outlook for the world's second biggest economy remains, strategists say.

    Data on Monday showed the Chinese economy grew 7.5 percent year on year in the June quarter, in line with expectations, but down from 7.7 percent in first three months of the year to mark the second straight quarter of slowing growth.

    "Who knows if 7.5 percent [growth] is sustainable? It really is a question of watching the data and where it stabilizes is what's important for the market," Simon Warner, head of macro markets at AMP Capital, told CNBC Asia's "Cash Flow."

    (Read More: Just how low will China allow growth to go?)

    "We have a real situation in China where nobody really knows where Chinese growth is going to settle down in the coming quarters," he added.

    The China gross domestic product (GDP) data bought some relief to markets, which had braced for a weaker-than-forecast number after recent data sparked fears of a sharp slowdown in growth.

    Asian stock markets were a touch firmer after the GDP release, while the China-data sensitive Australian dollar hit a session high of about $0.9109.

    (Read More: Why aren't markets rallying over China's GDP?)

    In a statement, the China statistics bureau said economic performance in the first half was stable, with economic indicators within a reasonable range.

    New Premier Li Keqiang has been prominent in pushing for economic reform over fast-line growth, suggesting the government is in no rush to offer fresh stimulus to revive an economy in a protracted slowdown.

    With the latest GDP data, China's growth has slowed down in nine of the last 10 quarters.

    The government's official growth target for 2013 is 7.5 percent, impressive by world standards but it would be the slowest pace in 23 years for China.

    The main worry for China's leaders is if the economic slowdown leads to high unemployment that could spark social unrest. So far government officials say employment is stable.

    So for now, economists do not see any major stimulus or policy shift and instead expect the government to tough out the slowdown as they pursue a longer-term vision of reforming the economy towards consumer-led, rather than export- and investment-led growth.

    (Read More: Why China delivered such a big miss in trade data)

    China's full-year growth was 7.8 percent in 2012 and the government targets growth of 7.5 percent for 2013, which would be the slowest in 23 years, according to Reuters.

    Analysts at Nomura said that while they maintained their 2013 GDP forecast of 7.5 percent, they had lowered their 2014 forecast to 6.9 percent from 7.5 percent after Monday's GDP report ? partly on an expectation that China's government would lower its official growth forecast for next year.

    "In the U.S. we can't predict what's going to happen in three months' time and here we have folks saying growth will be 7.5 percent," said Bill Smead, CEO at Smead Capital Management. "And that's fantastic but I'd like to take them [policymakers] into some other arena so I could make some money out of their ability to predict things so exactly."

    Last week, the International Monetary Fund (IMF) highlighted slowing Chinese growth as one of the three main threats to global economic growth.

    ? By CNBC.Com's Dhara Ranasinghe; follow her on Twitter @DharaCNBC. Reuters contributed to this report.

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    Ford targets "all customers" with Tourneo passenger vans

    Date: 18 July 2013 ??|?? Author: Paul Barker

    Ford is targeting a wide range of customers for its growing family of Tourneo passenger vehicles based on the new Transit Custom and forthcoming Connect models.

    "The simplest way to think is that it's a car," Ford's fleet boss Phil Hollins told BusinessCar, likening the Tourneo vehicles to the B-, C- and S-max range of people carriers, though at a lower price point.

    "There was some research done at [Ford's UK development centre] Dunton that said people who buy these would probably never see themselves in a B-, C- or S-max," claimed Hollins.

    "It's complimentary product offering; not a van with windows and seats in the back but a?smart people mover." He claimed that argument is backed up by the Tourneo models coming in the car specification grades including Zetec and Titanium, rather than the light commercial vehicle trims of Base, Trend and Limited.

    The customer base will be across retail, fleet segments and tourism.

    "They will be everything customer- wise. All our products need to be relevant across all segments," continued Hollins.

    Although the Tourneo Transit Custom and Connect models are confirmed for the UK, there's still a question mark about whether Ford will take the Tourneo passenger version of the new baby Courier van.



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    Source: http://www.businesscar.co.uk/news/2013/ford-targets-all-customers-with-tourneo-passenger-vans

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    Obama steps in to push health plan as critical date draws near (reuters)

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    Wednesday, July 17, 2013

    wahaladey: Themba Mokoena South Africa







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