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Australian government to tackle banks on mortgages

Sunday, January 13, 2008

In response to higher than expected mortgage rate increases last week, Australian treasurer Wayne Swan flagged changes to banking regulations to increase competition between lenders on home mortgages.

Swan announced yesterday he had sought a Treasury report on the banking sector ahead of talks over the next fortnight on reforms to make it easier for bank customers to move mortgages between lenders by forcing banks to reduce exit fees, to “make the market more competitive”.

“Everybody knows we’ve been impacted upon by the U.S. sub-prime mortgage crisis that has pushed up the cost of money,” Swan said.

“But, as I said last week, some of the increases we saw by the banks were not justified. In my view, they were excessive. I urge people to vote with their feet. If there are obstacles to people voting with their feet, switching their accounts, we’ll have a look at those.”

The banking industry, however, insists that loan refinancing is not a complicated process currently, according to the head of the Australian Bankers Association (ABA), David Bell. “There is a competitive marketplace for home loans and the Cannex website shows the many products that are available,” said Bell. “Regarding the switching of transaction accounts, the Australian Payments Clearing Association is conducting a community consultation process on this issue. ABA member banks support this process.”

Hurricane Bill now a Category 4 storm

Wednesday, August 19, 2009

Following a period of steady intensification, Hurricane Bill is now a Category 4 major hurricane, as defined by the Saffir-Simpson Hurricane Scale.

Bill formed on August 12 and became the 2009 season’s first hurricane on August 17. For the past few days, the storm has been moving toward the west-northwest, but that is expected to change later this week as it turns more toward the north. After that, its track is uncertain, though National Hurricane Center (NHC) forecasters believe the hurricane will pass between Bermuda and the United States.

As of 11 a.m. AST August 19 (0900 UTC August 19), Hurricane Bill was located within 15 nautical miles of 18.0°N 54.9°W, about 460 mi (740 km) east of the Leeward Islands. Maximum sustained winds were near 115 knots (135 mph, 215 km/h), with stronger gusts. Forecasters estimate the storm’s minimum barometric pressure at 950 millibars.

Bermuda could be under the most significant threat from Bill, and officials there have been monitoring the storm’s progress. Derrick Binns, Permanent Secretary of the Ministry of Labour, Home Affairs and Housing, reported that “We have been following the storm closely since its inception, and today we reviewed our planning and procedures to ensure all are in sync. While we have not as yet issued hurricane warnings, I think it is important to advise residents to check their emergency kits to be sure supplies are adequate.”

	…[it is] almost inevitable that the storm will find some part of Eastern Canada. Whether that’s the marine areas or the land district, it’s still too far to say.

Bill is expected to spare the United States from any significant impact, but forecasters advise that since the storm is still several days away, nothing is certain. Indeed, residents of Long Island, New York are keeping a close eye on the cyclone’s progress.

Forecasters also warn that Bill could target parts of eastern Canada. Residents of Nova Scotia, mindful of the extensive damage from Hurricane Juan several years prior, are beginning to take precautionary measures.

Regardless of its exact track, Bill will likely generate rough surf and dangerous rip tides along the coast of the U.S. and Canada.

Tropical cyclones are known to be unpredictable, so interests in the regions potentially in Bill’s path are urged to track the storm’s progress over coming days and review emergency plans.

Ways Funeral Directors In Middletown Can Help Survivors Handle Arrangements For A Loved One Who Has Recently Passed

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byAlma Abell

After a loved one passes, it can be a very emotional and difficult time for those they leave behind. Unfortunately, those who the deceased person was closest to are generally the ones who must begin planning the burial, cremation and funeral for their loved one. While many times a person may have left detailed instructions on how they want their remains to be handled, often they have not and this means the loved one will be responsible for making these types of decisions as well. This can be a lot for a person who is grieving to handle and often speaking to Funeral Directors in Middletown can be beneficial in helping them to get through this process.

In most cases, planning a burial or cremation will involve a number of choices and decisions to be made. Often just making these types of decisions during such an emotional time can be overwhelming for the survivors. By having a professional who not only understands the process but also what the survivors are going through, it can be much easier for everyone to handle.

Funeral Directors in Middletown will know what types of arrangements need to be made for the body and any services being planned. They can help by guiding the survivors charged with making the arrangements through the various steps in the process. From obtaining the body from the morgue or other facility to preparing it for a funeral or cremation, a funeral director will know what needs to be done and will handle it quickly and efficiently.

Once the decisions about burial or cremation have been made, a funeral director from a business, like John P. Condon Funeral Home, will be able to help the family in choosing the casket or urn for the remains. They can also make sure the family has a burial plot or other type of arrangements if necessary.

The funeral directors are generally also helpful in setting up a service at a chapel or other type of facility as well. Most funeral homes offer these types of facilities for use during the wake, funeral or memorial service. While the family can set these types of services up to reflect their personal needs, the funeral home will often be on hand to help in guiding them through the various options available and can often provide music, a speaker or other services as needed as well.

News briefs:January 04, 2008

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New Zealand’s new small change

Monday, July 31, 2006

Today New Zealand’s new coins have been released. The new coins replace the 10, 20 and 50 cent coins, while the 5-cent coin is being removed from circulation for good.

The new coins retain the same design as before but the 10-cent coin is now copper coloured. All coins except the 10-cent are now made from plated steel and nickel, making them lighter and cheaper to produce. The 10-cent coin is made from plated steel and copper.

Brian Lang, Reserve Bank of New Zealand Currency Manager, said: “The introduction of smaller, lighter coins is one of New Zealand’s biggest currency changes since the introduction of decimal currency on 10 July 1967.”

The Reserve Bank reports that they have issued 1,037 million coins since the introduction of decimal currency.

However, people can still use their old change between now and 1 November 2006, when the old coins will cease being legal tender.

A survey conducted by ACNielsen, on behalf of the Reserve Bank, in January 2004 shows that 51% liked the idea of the new coins initially.

The ANZ Bank are asking for people to donate their old 5-cent coins to Plunket in their ‘5s for under fives’ appeal.

This article features first-hand journalism by Wikinews members. See the collaboration page for more details.

Reasons To Hire Furnace Contractors

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byadmin

With the winter chill in full effect all around the country, many people have to run their heaters more. If you have had your unit maintained properly by a professional, then the increase in use of your heating unit should not pose any problems. For the homeowners who have not taken the time to hire a professional for maintenance, the increased use of their unit may lead to repair issues. If you start to notice that your heating unit is not performing as it should, then you need to call in a professional to take a look for you. Here a few of the reasons to hire furnace contractors to fix your heating system.

The Experience is Troubleshooting

The best reason that you should hire a professional for furnace repairs is that they have the experience needed to troubleshoot your system. In most cases, there are a variety of different repair issues that have the same symptoms, which is why you need to hire a professional to troubleshoot it. By getting to the root cause of the problems you are having, the contractors will be able to fix the system in a very short amount of time.

High Quality Parts and Repairs

Another advantage that comes with using a professional for your furnace repairs is that they can provide you high quality repairs and replacement parts. The worst thing that any homeowner can try to do is their own heating system repairs due to the danger involved.. A professional will be able to do the job in half the time that you can and without any of the danger. You need to call around your area to see which heating contractor can best meet the needs that you have. The time that goes into your research will be worth it in the end.

When in the market for a great Furnace Contractors, look to the team at Poudre Valley Air. They have been in the business for a number of years and can bring their experience to work for you. Cal them or visit pvair.com for more information on what they can do for you.

Finding Professional Help With Your Home’s Air Conditioner

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byadmin

You and your family count on several appliances around your home to keep you comfortable and make everyday life easier, including your air conditioner. You may have recently found your air conditioner to start operating poorly, but you can find the professional help you need to get back to cool comfort quite quickly. No matter how much work your cooling system requires, you should find a residential air conditioning contractor in Honolulu HI to be the best solution.

You likely have never really thought about the things that could go wrong with your cooling system, and you don’t have to when you have an expert you can count on. You can focus more on other tasks around your home when you can trust a residential air conditioning service Honolulu, HIto be handling the work your air conditioner requires to get back to good-working order. There may be many sources that the problem could be coming from, but you won’t have to worry about them when a licensed contractor is making necessary repairs.

You can often find the best sources of information by doing a little research. You may find the internet to be a very good way to find any sort of product or service you require at any time of the day. You can utilize this tool to find a residential air conditioning contractor in Honolulu, HI to come quickly. You can input some information into a search engine to come up with several companies in your area. They will often have their own websites for you to look at and determine if they are able to help with your needs. You can narrow your search down further when you include the brand of air conditioner you need help with, as you will only come up with companies that have experience with your brand.

After you have found a few service companies that you believe you could use, you can then call and get quotes for the work you require. They may want to come to your home to give you a more accurate quote for the repairs or replacement necessary. You can compare each residential air conditioning contractor Honolulu, HI to determine who you believe will do the best work. They should then come within a few days to get your air conditioner running better than ever before.

Building collapses, leaving four dead in Hong Kong

Monday, February 1, 2010

A decades-old building collapsed along Ma Tau Wai Road in Hong Kong at about 1:30pm on Friday, local time. That building was located at 45J, Ma Tau Wai Road in Hung Hom. A shop on its ground floor was undergoing renovations when the building collapsed. The street was full of dust afterwards. Firefighters arrived at the scene to search survivors and they asked residents in the buildings nearby to evacuate the area. Those buildings included 45G and 45H.

Chief Executive Donald Tsang called for an investigation into the cause of the building collapse. He aimed at preventing similar incidents. The government required all old buildings with similar structures to undergo inspection, according to Secretary for Development Carrie Lam.

The government has confirmed that four people were dead in the incident. Rescue efforts ended on Saturday morning when the government confirmed that no one was missing. Lam visited the scene on Saturday afternoon and sought advice from the police and Buildings Department. The police has started its investigation into the incident. Secretary for Labour & Welfare Matthew Cheung said that the government would do its best to meet the victims’ needs.

The collapsed building was more than 50 years old. The government had inspected its five-storey structure before the incident and had ordered repairs. After the tragedy, the government announced that it would inspect buildings older than 50 years in one month. The government has restricted access to buildings at 45G and 45H as they were in danger.

Dublin gets ready to be rocked once again by U2

Friday, June 24, 2005

240,000 U2] fans are preparing for Ireland’s most successful band ever to return for a hometown gig in Dublin. The supergroup is playing Friday, Saturday and Monday in front of 80,000 people a night at Croke Park. Gardaí have put in place a massive traffic management plan to cope with the influx of people. Fans have been queing since Thursday morning when a group of fans from Holland, Italy and Canada started queuing outside the stadium.

The concert forms part of U2’s current “Vertigo” world tour. The support acts include emerging Irish bands Snow Patrol and The Thrills along with already very popular Paddy Casey. Ash and The Bravery will cap it off as warm up acts on Monday.

The gates for the gig will open at 4pm with the actual band not expected until around 8.30pm. Irish media has entered a frenzied anticipation of the concert all this week, with constant coverage on radio stations. The national broadcaster, RTÉ, is set to dedicated almost 3hr 30min to the band with an exclusive interview by Dave Fanning forming the centerpiece of the stations coverage of the “U2 weekend”. Coldplay frontman Chris Martin, who played in front of a sell out crowd in Dublin earlier this week told fans that U2 were “still the best band in the world”.

Croke Park is the fourth largest stadium in Europe, with an official capacity of 82,000 – bigger than both Cardiff’s Millennium Stadium and Paris’ Stade de France. Croke Park is used to host GAA matches in sports such as hurling and Gaelic football and regularly attracts audiences of 60,000 or more in the summer months.

Are H 1 B Workers Paid Much Less Than Us Workers?

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Are H-1B Workers Paid Much Less Than US Workers?

V. B. Velasco Jr., Ph.D.

Mention H-1B work visas to a bunch of American programmers or engineers and you re likely to hear a cry of outrage. H-1B visa holders, it is commonly said, are responsible for taking jobs away from hardworking American high-tech workers. In addition, disgruntled American techies often complain that H-1B workers are paid much less than their American counterparts. They claim that companies typically use H-1Bs as cheap labor, and that this results in lowered wages for Americans and foreigners alike. In response, defenders of the H-1B program argue that these foreign workers help the economy grow and that there are adequate safeguards to ensure that they earn comparable wages.

The truth, I believe, lies somewhere in between.

The issue of whether H-1B holders take jobs away from Americans is legitimate, albeit one that is seldom addressed thoroughly by either side of this debate. For now though, I d like to focus on the second of these issues, namely, Are H-1B workers getting paid much less, and thus, depressing the competitive salaries for US workers?

First, I think it s clear that some H-1Bs are being paid much less than their American counterparts. By law, companies are required to pay their H-1B employees in accordance with the prevailing wage for that job; however, determining the prevailing wage can be highly subjective and rife with loopholes. For example, a company can give its H-1B applicants a job title that does not accurately reflect his job duties. In addition, prevaling wage determinations (by necessity) rely on a fairly coarse means of classifying an applicant s job level and classification, which gives companies some leeway in deciding how to file their job descriptions.

[youtube]http://www.youtube.com/watch?v=0eVp59pUZZw[/youtube]

Furthermore, tales abound within high-tech industries of companies that hire foreign workers from so-called job shops consulting firms that specialize in supplying low-paid H-1B workers, typically from India. Accurate figures can be difficult to find, as these reports typically come from either anecdotal sources or a government audit that was performed in 1996; however, these stories cannot be easily discounted either. I myself once worked with two programmers (one Indian, one Pakistani) who had been recruited by such an outfit, where they had been paid embarassingly low wages.

Nevertheless, while such abuses do occur, I think that the extent of this problem has been vastly overblown. Various studies indicate that H-1Bs are paid much less than American workers are; however, these studies are typically conducted by special interest groups that oppose the H-1B program. No definitive governmental investigation has yet substantiated these statistics.

In addition, I contend that such studies are based on questionable statistics and methodologies. Most notably, they fail to consider that your typical H-1B visa holder will be a recent graduate, and thus, relatively young. It should therefore be no surprise that they will earn less than many Americans who work in the same field. In fact, the National Science Foundation (NSF) reports that foreign-born professionals actually earn more than their American counterparts when one compares individuals with the same ages and degree levels, and when one considers the year in which these degrees were granted.

Additionally, when critics complain that H-1B holders are underpaid, these allegations are typically based on either anecdotal evidence or the prevailing wage declarations that were filed for those H-1B applications. Anecdotal evidence only pertains to individual cases though, and says nothing about H-1B cases on the whole. As for prevailing wage declarations, these figures only indicate the minimum wages that employers are allowed to pay; they don t indicate the salary levels that are actually paid.

Naturally, US Citizen and Immigration Services (USCIS) does not make the H-1B salary levels publicly available, thus making it impossible to compare actual income. However, the National Foundation for American Policy asked a prominent law firm to select 100 randomly selected H-1B cases from among its client files. These files contained both the prevailing wage level and the actual salary levels as reported to the USCIS. The result? On the average, the average wage was more than 22% higher than the prevailing wage. Furthermore, this figure does not consider possible wage increases after the applicant has been hired. While we cannot conclude that these cases are representative of H-1B salary levels in general, this informal study does illustrate the problem with drawing hasty conclusions based solely on the prevailing wage declarations.

In fact, hiring H-1B holders can be decidedly more expensive than hiring a native-born worker. When hiring a US citizen, the costs generally stop with the job offer; not so with H-1B visa applicants. Hiring on an H-1B basis typically requires almost $6000 in additional legal and government fees and that doesn t even include the cost of the extra work required from in-house human resource personnel. If the employee seeks green card sponsorship, this can require an additional $10,000 maybe more. On top of that, sponsoring for an H-1B visa or a green card can be a risky proposition with no guarantee of success. Perhaps some companies do sponsor H-1B holders in order to save money, but if so, these savings are greatly offset by the additional expenses and legal headaches involved.

What s more, other statistics refute the claim that foreigner high-tech workers earn much less than Americans do. A study by Center for Labor Market Studies at Northeastern University reports that foreign-born and native professionals in math and the sciences earn virtually identical salaries. The same study showed that in computer science and mathematics, salaries were roughly the same for master s degree holders, and were actually higher for the bachelor s degree and doctorate holders. Salary levels were comparable for at all three levels within the life sciences. Native-born American engineers with bachelor s or master s degrees admitedly earned more than than their foreign-born counterparts; however, the situation was reversed when it came to doctorate holders.

So in summary, is it true that H-1B visa holders are paid much less than US workers? Sometimes, that s true. On the whole though, I think that this alarmist claim is greatly overblown, and we have good reason to believe that they are generally paid well. For this reason, I think we should not be quick to conclude that this influx of H-1B workers is dragging salary levels down.

About the author:V. B. Velasco Jr., Ph.D. works for a small biotechnology firm that provides

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Are H-1B Workers Paid Much Less Than US Workers?