| Fed slashes key rate 0.75 points
The Fed's reduction in the federal funds rate from 4.25 percent to 3.5 percent marked the biggest cut in that target rate for overnight loans going back to 1990. It marked the first time the Fed has changed the funds rate between meetings since 2001, when the central bank was battling the combined effects of a recession and the terrorist attacks. Federal Reserve Chairman Ben S. Bernanke and his colleagues approved the large rate cut after an emergency video conference Monday night, a day when global markets had been pounded by rising fears that weakness in the world's largest economy was spreading worldwide. Despite the Fed's bold move, stocks plunged at the opening. But the Dow rebounded, finishing the day off 128.11 points at 11,971.19. Analysts said the milder decline at the end of the day after such a rough start showed that the Fed's effort to reassure Wall Street had had an effect.
South Africa: Training to Limpopo's Small Scale Miners
About 50 people who are engaged in small scale mining activities in Limpopo have been provided with skills that will help them run their projects more effectively. The beneficiaries, most of whom are women, were awarded certificates of competence in Tzaneen on Friday. "We want to see people in rural communities using natural resources to create a better life for themselves. They must share in the mineral wealth of our land," said project coordinator Keith Charles. He said the two-week long course was supported by the national Departments of Minerals and Energy, Economic Affairs and the provincial Department of Economic Development, Environment and Tourism.The certificates are endorsed by the Mining Qualification Authority. .
Power loss a blow to wind farm
Predictictions of annual generation for planning and financing, is based on the AVERAGE, not maximum capacity. Consider this analogy. Your automobile may have an engine rated at 100 horsepower (or "hp"). Yet, when cruising the roads, you may only be using 10 hp. Then why not use a 10 hp engine? Because you need the extra horspower in bursts for accelerations from a stop or to pass other cars. That "extra" 90 hp is essential. Likewise, occasional and seasonal winds greater than the average carry vast amounts of energy. A wind turbine rated for 100% maximum power in the average wind would be an engineering and financial stupidity. A wind turbine generating 1/3 of its maximum potential output may , in fact, be running 100% of the time, and be performing exactly as required.How else could it capture the energy of high winter winds if it ran at full maximum in summer calm? This is different than a nuclear reactor.
Exxon v. Venezuela and you’re the loser in this battle
Exxon claims it's won a round in its court battle against Venezuela. Venezuelan assets are now frozen in Britain and Netherlands. A lawsuit is in court int he U.S. as well. Exxon claims total Venezuelan assets valued at $36 billion dollars are now frozen. In turn Venzuela is threatening to retaliate by cutting off oil exports to the U.S. in what it terms an economic war. Bet they won't have any trouble selling that oil elsewhere. Of course nothing like a good slam-bang international oil crisis to set up another upward surge in crude oil prices which have now once again gone over $90 per barrel. Exxon v. Venezuela trumps recession fears for now. And this is another full employment act for lawyers. Even V's socialist regime will have to pay international law firms.
Town of Happy Valley-Goose Bay named winner of WinterLights Celebrations: A cut above the rest
When it comes to winter, we do it right. The great efforts of the residents of Happy Valley-Goose Bay are the reason the town won the award for the WinterLights Celebrations, says Ken Anthony, director of Tourism, Culture and Recreation for the town. HV-GB won in the 1 to 10,000-population category beating the three competing communities of City of Armstrong, British Columbia, District of Chetwynd, British Columbia, City of Dauphin, Manitoba. Mayor Leo Abbass said the award is recognition of all the hard work done by everyone over the past year. "Work on next years celebrations has already begun and next year will be bigger and better," Mayor Abbass said. WinterLights judges Lisa Redpath and Gerry Teahen, described the community as leaders in the Canadian winter experience. The town offers a unique blend of first class and world-class traditional and cultural indoor and outdoor events for every enthusiast.
Guest Commentary: Waterboarding the truth: The attorney general of ...
And yet, on Jan. 6, the Associated Press reported the White House said waterboarding is legal. Prove it, Mukasey. Largely overlooked in the press coverage of Mukasey's evasiveness - much more sophisticated than Alberto Gonzales' - were his answers concerning Steven G. Bradbury, the longtime acting head of the Justice Department's Office of Legal Counsel, which is charged with monitoring the legality of the department's actions - or inactions. The president keeps unsuccessfully and insistently renominating .
Terror czar warns of changing threat
WENDY ALEXANDER has been reported to the procurator fiscal for failing to register her leadership campaign donations. Dr Jim Dyer, the standards commissioner, has sent a report to the area fiscal in Lothian and Borders after concluding there was evidence the Labour leader broke the rules on declaring gifts. .
Fantasy Aces: Match game
He's currently No. 3 in the world, and started this season with a runner-up finish at the the Mercedes-Benz Championship, a tie for fourth at the Sony Open and a tie for 11th last week in L.A.
Go ahead, point out the fact that he lost the Mercedes to Daniel Chopra in a sudden-death playoff, which can be considered a match-play situation.
But here's the best part: Stricker faces Chopra in Wednesday's first round.
He will get his revenge.
Ace up Soderstrom's sleeve: Scott Verplank.
Picking a guy who's known for stepping it up in Ryder Cups and Presidents Cups doesn't seem like a bad choice, until you see who he's up against in Round 1: Tiger-killer Nick O'Hern. I still like the upset here.
Lance Ringler's best bet: K.J.
Monday Letters to the Editor
Excepting the moral argument for adequate teacher salaries, the rising cost of education is due primarily to entitlements, waste, incompetence and a leadership vacuum. Education is becoming re-segregated by socio-economic class. This is a sinister but effective exclusion of the most needy. - DONALD A. SELLEK Manhattan Beach .
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