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Tuesday, October 10, 2006

The upcoming 2006 Brampton municipal election, to be held November 13, features an array of candidates looking to represent their wards in city council or the council of the Peel Region.

Wikinews contributor Nick Moreau contacted many of the candidates, including Derek Begley, asking them to answer common questions sent in an email. This ward’s incumbent is John Sprovieri; also challenging Sprovieri is Sherdaljit Dhillon, Mahen Gupta, Satpaul Johal, Dalbir S. Kathuria, and Vahid Saadati-Khanshir.

Sunday, January 27, 2008

Viktor Schreckengost, the father of industrial design and creator of the Jazz Bowl, an iconic piece of Jazz Age art designed for Eleanor Roosevelt during his association with Cowan Pottery died yesterday. He was 101.

Schreckengost was born on June 26, 1906 in Sebring, Ohio, United States.

Schreckengost’s peers included the far more famous designers Raymond Loewy and Norman Bel Geddes.

In 2000, the Cleveland Museum of Art curated the first ever retrospective of Schreckengost’s work. Stunning in scope, the exhibition included sculpture, pottery, dinnerware, drawings, and paintings.

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.

Friday, September 15, 2006

BT Global Services this week laid out its vision for the next three years: its revenues to double in the USA, Japan, India and China, and £400m of annual savings, achieved through offshoring and slashing its procurement costs. £200m of this will come from a reduction in what it spends on technology from vendors on large systems integration projects.

CEO Andy Green admitted that BT had been slower than rivals such as IBM and Accenture to ramp up its offshore headcount. But he claimed that BT Global Services is thriving as the fastest-growing division within BT. He said that the division was outperforming its closest rivals, T-Systems, Orange Enterprise and AT&T Enterprise, which had all posted revenue declines for the most recent quarter. He said BT was fast becoming a familiar brand to businessmen in New York, Tokyo, Mumbai and Shanghai.

He disclosed a few revenue figures not revealed before. For the financial year ending March 2006, UK revenues rose just 2% to £5.5bn, while overseas revenues shot up 48% to £3.3bn. And of the £8.8bn total revenue, £1.6bn was captive work for its parent, while of the remaining £7.2bn, 18% came from the UK government sector and 17% from financial services. BT said it still harbours ambitions to conquer America, despite the failure of the ‘Concert‘ partnership with V in the 1990s.

In a separate story, BT announced it has chosen Chinese vendor ZTE to develop a dual-mode handset — 3G and DAB-IP — for launch by its BT Movio subsidiary next year. DAB-IP (in other words, IP over the DAB digital radio network) will enable BT Movio to broadcast four TV channels at acceptable quality to the handset.3G will enable video-on-demand, so that the users can specify what video clips or programmes they wish to watch. UK legislation specifies that no more than 30% of the DAB spectrum can be used for non-radio purposes, so BT is lobbying for more DAB spectrum to be released, to enable higher quality video and/or more TV channels.

Sunday, October 21, 2007

Torture proliferates American headlines today: whether its use is defensible in certain contexts and the morality of the practice. Wikinews reporter David Shankbone was curious about torture in American popular culture. This is the first of a two part series examining the BDSM business. This interview focuses on the owners of a dungeon, what they charge, what the clients are like and how they handle their needs.

When Shankbone rings the bell of “HC & Co.” he has no idea what to expect. A BDSM (Bondage Discipline Sadism Masochism) dungeon is a legal enterprise in New York City, and there are more than a few businesses that cater to a clientèle that wants an enema, a spanking, to be dressed like a baby or to wear women’s clothing. Shankbone went to find out what these businesses are like, who runs them, who works at them, and who frequents them. He spent three hours one night in what is considered one of the more upscale establishments in Manhattan, Rebecca’s Hidden Chamber, where according to The Village Voice, “you can take your girlfriend or wife, and have them treated with respect—unless they hope to be treated with something other than respect!”

When Shankbone arrived on the sixth floor of a midtown office building, the elevator opened up to a hallway where a smiling Rebecca greeted him. She is a beautiful forty-ish Long Island mother of three who is dressed in smart black pants and a black turtleneck that reaches up to her blond-streaked hair pulled back in a bushy ponytail. “Are you David Shankbone? We’re so excited to meet you!” she says, and leads him down the hall to a living room area with a sofa, a television playing an action-thriller, an open supply cabinet stocked with enema kits, and her husband Bill sitting at the computer trying to find where the re-release of Blade Runner is playing at the local theater. “I don’t like that movie,” says Rebecca.

Perhaps the most poignant moment came at the end of the night when Shankbone was waiting to be escorted out (to avoid running into a client). Rebecca came into the room and sat on the sofa. “You know, a lot of people out there would like to see me burn for what I do,” she says. Rebecca is a woman who has faced challenges in her life, and dealt with them the best she could given her circumstances. She sees herself as providing a service to people who have needs, no matter how debauched the outside world deems them. They sat talking mutual challenges they have faced and politics (she’s supporting Hillary); Rebecca reflected upon the irony that many of the people who supported the torture at Abu Ghraib would want her closed down. It was in this conversation that Shankbone saw that humanity can be found anywhere, including in places that appear on the surface to cater to the inhumanity some people in our society feel towards themselves, or others.

“The best way to describe it,” says Bill, “is if you had a kink, and you had a wife and you had two kids, and every time you had sex with your wife it just didn’t hit the nail on the head. What would you do about it? How would you handle it? You might go through life feeling unfulfilled. Or you might say, ‘No, my kink is I really need to dress in women’s clothing.’ We’re that outlet. We’re not the evil devil out here, plucking people off the street, keeping them chained up for days on end.”

Below is David Shankbone’s interview with Bill & Rebecca, owners of Rebecca’s Hidden Chamber, a BDSM dungeon.

Wednesday, July 13, 2005

The U.S. space agency NASA called off the launch of Space shuttle Discovery today after a problem with a fuel sensor in the external tank used to detect fuel exhaustion. According to the agency-run NASA TV, the low-fuel sensor was either malfunctioning or damaged. The launch was already facing the threat of a scrub due to thunderstorms in the area.

The sensor is one of four used to trigger the engine cutout after launch. Although only two are required for normal operation, and the Shuttle can be flown with one, NASA elected to maintain full redundancy. Should more of the sensors fail, the engine might burn out due to lack of fuel, a situation that has not been tested.

The problem was detected during a simulation of an empty tank. When placed in a mode simulating an empty tank, three of the sensors correctly registered that the tank was empty, while the faulty sensor stayed in the “full” state. NASA is currently unsure whether the problem relates to the sensor, the instrumentation circuits reporting the sensor’s state, or the simulation circuits.

The problem comes after a separate incident yesterday when a cockpit window cover fell from the Orbiter, damaging thermal protection tiles. A similar problem caused the replacement of the fuel tank in June. NASA described the problem as an “intermittent fault”.

The launch, which was scheduled for 3:51 ET (20:51 UTC), would have been the first launch of a shuttle since Columbia‘s February 2003 crash which killed all crew members aboard.

It is still unknown to NASA officials what caused the sensor to become defective. It is also unknown at the moment whether the issue will be fixed on the launch pad, or in the Vehicle Assembly Building – in which it takes close to a full day’s time to transport a shuttle between the two areas.

In the interim, the crew of the shuttle will stay at KSC unless there are further delays, in which case the crew might be transported back to JSC in Houston for refresher training.

Thursday, June 21, 2007

Seeking to stave off the forest fires that have blanketed five Southeast Asian countries with choking haze for the past two years, Indonesian environmental and forestry officials said yesterday they would be able to reduce the number of hot spots this year by more than half.

Meeting in Jambi, Sumatra, cabinet ministers from Brunei, Malaysia, Singapore and Thailand heard what Indonesia plans to do this year to combat the illegal forest fires, which start each year during the August-November dry season.

“We are targeting a drop of about 50 percent in forest fires but we are entering the dry season between July and August so we have to increase our alertness,” Indonesian deputy environment minister Masnellyarti Hilman was quoted as saying by Agence France-Presse. “We explained the efforts that we’ve taken to prevent a repeat of the choking haze…and they praised our efforts,” he said.

A statement issued by the ministers after the meeting said Indonesia’s efforts would reduce the number of hot spots by 58 percent from the previous year.

Caused by slash-and-burn cultivation on palm oil and timber plantations on Borneo and Sumatra, the haze has covered parts of the affected countries for the past two years. It was first problematic in 1997, due to the El Niño weather pattern.