Friday, June 5, 2009

General Motors Corporation (GM), an American automaker which has filed for bankruptcy protection, announced on Friday that the Penske Automotive Group (PAG) was selected to purchase Saturn Corporation. The transaction should be completed in October.

The purchase includes rights to the Saturn brand, its five current models and its dealership network. Two models would be discontinued, the Sky and Astra. GM would continue building the Aura sedan, the SUV’s, Vue and Outlook for at least two more years.

Saturn has 350 dealers across the United States. The dealers employ more than 13,000 jobs and sell only the Saturn autos. Canadian Saturn dealers are not included in the deal.

According to Penske future Saturn vehicles will be fuel economy focused. An expert indicated that this would move Saturn back to its roots of a entry level car company. PAG is in talks with several international automakers to replace GM after 2011. Automotive News reports that Renault Samsung Motors of Korea is the most likely candidate.

Penske wants Jill Lajdziak, Saturn’s general manager, and Tom LaSorda, former Chrysler President to head up the company when it is independent of GM.

Serra Automotive in Grand Blanc Township, Genesee County, Michigan, is in talks to take a partial ownership in a new Saturn lead by Penske.

Tuesday, March 17, 2009

Funerals began Monday across Newfoundland for the deceased of the downed Sikorsky S92 helicopter that crashed into the Atlantic Ocean on Friday killing 17 of the 18 people on board. All bodies have now been recovered, and the voice and flight data recorders have been retrieved to aid the investigation.

“We have a big attachment to the sea, even if a family is not directly involved you know how dangerous it is out there. Some funerals are strictly a family matter. In this situation there’s a large extended family because we’re all affected,” said Jim Maher, the uncle of Allison Maher, 26, the first deceased recovered after the crash.

The Archbishop of St. John’s, Martin Currie, said, “Tragedy is no stranger to the people of Newfoundland. They’re very resilient people and in a time of tragedy, they come together to support each other. Most of the communities in Newfoundland are small communities. Everybody knows everybody.”

The Transportation Safety Board has retrieved nine more bodies from the wreckage. The Atlantic Osprey is the offshore supply vessel which has been with the search and rescue effort since day one. The newly recovered bodies were taken back to St. John’s aboard the ship.

Since the recovery operations began Monday “it took 24 hours to get nine bodies out Each presents its own challenges depending on how it is entangled inside the aircraft” said RCMP Sergeant Wayne Newell.

Operations continued Tuesday to recover the final seven bodies tangled inside the mangled wreck 120 to 150 meters (394 to 492 feet) below the ocean surface. Remotely operated vehicles (ROVs) are being used in the icy waters to place the bodies in a basket so they can be raised to the surface. After the Atlantic Osprey arrived in port, the bodies were taken to the Newfoundland’s chief medical officer by hearse for identification.

Of the 19 people aboard, Robert Decker is the sole survivor. Decker’s family has informed the RCMP that he is not yet able to communicate. Decker, who was put on life support when first admitted to hospital with injured lungs and broken bones, has said a few words; RCMP investigators hope that he will be able explain what happened in the accident and assist with the investigation, possibly toward the end of the week.

Twelve names of the missing victims had previously been announced, and with family permission, the RCMP have now released the names of Corey Eddy, from Paradise, N.L., age 32, and John Pelley, from Deer Lake, N.L. age 41.

Friday, March 2, 2007

Sirius CEO Mel Karmazin appeared before a newly formed Antitrust Task Force, a sub-committee of the House Judiciary Committee, on Wednesday last week in Washington, D.C. to defend the proposed U.S. merger between XM and Sirius satellite radio services.

The hearing, carried live on C-SPAN, was attended by representatives from various competing broadcast companies. The representatives challenged the merger deal, and some speakers were openly hostile to Karmazin and to satellite radio in general, while other speakers were more civil.

Several times during the debate, the discussion centered on the failed merger deal between the two satellite television networks DirecTV and Echostar. The comparison between this proposed radio merger and the failed television merger was settled to some extent with an understanding that nearly all television viewers now use either cable or satellite to view available programming. Televised programming content is now delivered mainly in the form of a subscription, rather than airwave transmissions.

Unlike television programming, most radio listeners use over the air receivers to listen to free programming content supported advertisers.

“We come to this hearing with an open mind, but we recognize that the companies have the obligation to convince the Congress, the regulators, and most importantly, the American People that this combination will improve the competitive playing field and benefit consumers,” said John Conyers, the sub-committee chairman. To determine the legality of this merger, Congress first needs to decide whether a combined XM and Sirius would be a monopoly, as the only satellite radio provider in the United States, or whether the new company will actually be in competition with other forms of radio-like entertainment, according to Conyers. The hearing focused on alternatives such as Internet radio, terrestrial radio, portable audio devices, and emerging services, such as cell phone services and WiMax.

Friday, August 4, 2017

Yesterday, French capital football club Paris Saint-Germain triggered a €222 million (about US$263m, £198m) buyout clause of Brazilian winger Neymar to sign him from FC Barcelona, making him the most expensive footballer of all time by breaking the previous fee record of Paul Pogba’s transfer from Juventus FC to Manchester United. Neymar signed a five year contract with Paris SG which runs until June 2022.

25-year-old Neymar made his professional debut for Santos FC in January 2009, netting 138 goals in 229 matches. He was signed by FC Barcelona in 2013. Since then, Neymar has scored 105 goals and provided 80 assists in 186 games for Barça. In four seasons at Camp Nou, Neymar won two LaLiga titles, three Copa del Rey trophies, and one each of Champions League trophy Supercopa de España. Neymar was part of Barcelona’s treble winning squad in 2014–15, and finished third in 2015’s FIFA Ballon d’Or. Neymar made an international debut at the age of eighteen. He has scored 52 goals in 77 games for Brazil.

Paris SG’s Qatari president Nasser Al-Khelaifi said, “Today, with the arrival of Neymar Jr, I am convinced that we will come even closer, with the support of our faithful fans, to realizing our greatest dreams”.

After penning a five-year contract, Neymar said, “I am extremely happy to join Paris Saint-Germain. Since I arrived in Europe, the club has always been one of the most competitive and most ambitious. And the biggest challenge, what most motivated me to join my new teammates, is to help the club to conquer the titles that their fans want.”

Neymar’s lawyer submitted a check of €222m to deposit Neymar’s buy-out clause at LaLiga’s headquarters, but it was rejected. LaLiga officials issued an official statement, which read, “We can confirm that the player’s lawyers came to the La Liga offices this morning to deposit the clause and that it has been rejected.[…] That’s all the information we are giving out at this moment.”

Later, Neymar’s legal representative delivered the check to FC Barcelona. A statement from Barcelona confirmed they received the payment and Neymar was no longer contracted to the club. The statement read, “On Thursday afternoon Neymar Jr’s legal representatives visited in person the Club’s offices and made the payment of 222 million euros in the player’s name with regards to the unilateral termination of the contract that united both parties.” ^{((es))Spanish language: ?Esta tarde, representantes legales de Neymar Jr. se han personado en las oficinas del Club y han hecho efectivo, en nombre del jugador, el pago de 222 millones de euros, en concepto de indemnización por la rescisión unilateral y sin causa del contrato que unía a ambas partes.} It also said, “the Club will pass on to UEFA the details of the above operation so that they can determine the disciplinary responsibilities that may arise from this case.” ^{((es))Spanish language: ?el Club trasladará a la UEFA los detalles de esta operación para que depuren las responsabilidades disciplinarias que puedan derivarse de este caso.} Financial fair play rules prevents European clubs from spending more than €30 million from their earnings. Paris SG was fined by UEFA in 2014 for violating financial fair play rules.

Manchester United’s manager José Mourinho, who spent about €105 million last season to sign Paul Pogba, and a reported fee of €75 million to sign Belgian striker Romelu Lukaku from Everton FC this season, said, “Expensive are the ones who get into a certain level without a certain quality. For £200m, I don’t think [Neymar] is expensive. […] I think he’s expensive in the fact that now you are going to have more players at £100m, you are going have more players at £80m and more players at £60m. And I think that’s the problem. […] So I think the problem is not Neymar, I think the problem is the consequences of Neymar.”

Liverpool manager Jürgen Klopp said, “I thought Fair Play was made so that situations like that can’t happen. That’s more of a suggestion than a real rule.”

French club Lille director general Marc Ingla, who had once served as Barça’s vice-president said, “It’s a blow for Barcelona. Neymar is an accelerator to this bright future of Ligue 1. The young talent pool we have here is the best in Europe. For sure we can still compete with PSG. Once you get on the pitch it’s 11 v 11 and all the transfer fees and salaries narrow a bit.”

Before the official announcement of the agreement, yesterday, Arsenal’s manager Arsène Wenger also remarked about the financial fair play and said, “Once a country owns a club, everything is possible. It becomes very difficult to respect the financial fair play because you can have different ways or different interests for a country to have such a big player to represent [that] country. It can’t justify the investments and looks unusual for the game. That’s why I always [support] football living with its own resources. You don’t look at the numbers in their absolute value anymore. Football has been for a long time out of normal society and the numbers are like the NBA in basketball, so it’s not comparable to normal life anymore. Those are the numbers. It was already out of context of society, so after it just becomes a bit extra. You cannot calculate what it brings in anymore, it’s just a number.”

On Wednesday, Neymar’s Lionel Messi posted on Instagram: “It was a great pleasure to have shared all these years with you, friend @neymarjr [Neymar]. I wish you good luck in this new stage of your life. See you tomorrow” ^{((es))Spanish language: ?Fue un placer enorme haber compartido todos estos años con vos, amigo @neymarjr [Neymar]. Te deseo mucha suerte en esta nueva etapa de tu vida. Nos vemos Tkm}.

Barcelona’s striker Luis Suárez dedicated an Instagram post for Neymar after Lionel Messi, and said, ” My friend i wish you the best in everything that comes!!! Also thank you for your support, for everything that i learned with you and for the unique moments that we spent together!!!! Keep like this and never change love you little bro” ^{((es))Spanish language: ?Amigo desearte todo lo mejor en lo que viene!!! También agradecerte todo el cariño que me diste, por lo que aprendí contigo y por los momentos únicos que pasamos!!!! Seguí así y no cambies nunca te quiero hermanito}.

Neymar has been assigned number 10 jersey.

Thursday, June 3, 2010

Apple announced Monday that it has sold over two million iPads, just two months after the device began shipping in the US and only days after its international launch.

Apple shares rose 2.9 percent (US$7.41) to US$264.29 Tuesday afternoon. Market analysts also upped price targets and sales estimates in response to the announcement. Shares for AT&T, who provides data plans for the iPad, also rose yesterday.

Prior to the iPad’s April 3 launch, many analysts had speculated about the viability and marketability of the device. However, iPad sales have been faster than anticipated. Although it was only expected to sell one million iPads for the whole quarter, Apple announced in early May that it had surpassed the one-million mark in just 28 days. It again surprised industry watchers, who were expecting about 1.6–1.7 million iPads to have been sold when Apple announced that it had passed the two-million mark. iPad sales may make up over ten percent of Apple’s revenue this quarter, a feat that took the iPhone twice as long to achieve. The iPad has been so popular and supplies of the tablet so low that Apple tried to place limits on the number of iPads a person can purchase earlier.

Apple had postponed sales of the iPad to Europe and Asia until last weekend due to strong demand for the tablet in the US. In addition to the US, it now sells the devices in Australia, Canada, France, Germany, Italy, Japan, Spain, Switzerland, and the U.K., and will begin shipping iPads to Austria, Belgium, Hong Kong, Ireland, Luxembourg, Mexico, Netherlands, New Zealand, and Singapore in July.

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