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Sunday, April 19, 2009

Six-year-old Thomas David Horne from the United Kingdom has died and eleven other British tourists were injured Friday when their plane crashed in Canaima National Park in Venezuela. They were on a sight seeing tour of the world’s tallest waterfalls, the Angel Falls.

The single engine, nine-seater Cessna 208 Caravan, lifted off shortly before the end of the runway, lost power, and then surged briefly before plummeting into the Venezuelan jungle in front of the 3,200 ft falls.

“It started to take off and we sensed it was losing power. Then it seemed to get it back and lifted off just 200 metres before the end of the runway. Then it dived into the trees,” reported Makeli Freire, a park tour guide.

Three of the injured sustained serious injuries, while the others suffered mainly broken bones. Thomas Horne, who sustained serious head injuries, died on the way to a local hospital. The pilot, co-pilot and tour guide were among the injured. Everyone on board was flown to Ciudad Bolívar, the capital city of Venezuela’s Bolívar state, where they were treated for their injuries. Among the injured were Thomas’s mother and father Jane and David who were among those who had broken bones. They were British tourists finishing up a two week holiday to Venezuela.

“The young boy died as he was being flown to hospital. His parents are both physically OK but are completely distraught over the loss of their son,” said Maiker Puga, of the Ciudad Bolivar clinic.

Liz and her husband Keith Grainger and S. Phillips, also British tourists, were also injured in the crash. The names of the three other British tourists and the three person crew who were injured have not been released at this time.

The plane tour was offered by First Choice, a division of TUI Travel PLC who extended their “heartfelt sympathy to family and friends during this deeply sad time.” LTA airline has suspended further flights until the investigation is concluded.

June Holman, Thomas’s aunt who was not on holidays said, that “there is nothing worse than losing a loved one, especially not a young child with their whole life ahead of them. The thoughts of us all are with his parents Jane and Dave at this very sad time.”

Wednesday, March 31, 2010

Skyservice, a Canadian charter airline, has cancelled several flights from Toronto’s Pearson International Airport, with reports that the airline has ceased operations.

The company cites debt levels and changes in the vacation travel market with its decision to shut down operations and file for receivership. At the time of the filing in Ontario Superior Court, Skyservice is said to owe almost $9 million CAD to long-term partner and Thomas Cook subsidiary Sunquest Vacations. This situation exacerbated the debt load already put on the airline by a leveraged buyout in 2007 by Vancouver-based private equity firm Gibralt Capital Corporation. That placed more debt than was workable on the troubled airline, along with Roynat Capital calling in their loans to Skyservice earlier in the year.

Skyservice has stated that it will work with its partner companies and other providers to ensure customers stranded by the airline’s sudden shutdown are dealt with effectively, according to a company representative. In addition to customers impacted by the cancellation of flights for the month of April, approximately 860 jobs are expected to be lost as a result of this shutdown.

Tour operator Signature Vacations, under a contract with Skyservice until 2013, has stated that they were prepared for the airline’s receivership, having joined forces with rival service Sunwing Airlines.

Last year, operator Conquest Vacations declared bankruptcy, allegedly due to the economic downturn and reduced revenues throughout the industry.

Sunday, February 13, 2011

With a fourth-quarter investment earnings of $3.9 Billion CAD, largely driven by stock market rises, the Canada Pension Plan’s (CPP) assets rose to $140.1 Billion reported the CPP Investment Board on Thursday.

Rate of return for the quarter netted three percent, bringing the first nine months of the fiscal year to 8.3%. The fund’s broad exposure to equities, in concert with a good quarter for stocks both in Canada and internationally, was largely to be credited according to CEO David Deneson.

The assets value rose from $127.6 Billion March 31st 2010, to $138.6 B on September 30th, to $140.1 B December 31st. The $3.9 B investment earnings, 3.58 of which came from the 54% of the portfolio in equities, was partially offset by seasonal outlays of $2.4 B to plan members.

The fund was very active throughout the calendar year, and particularly active in infrastructure, real estate, and private equity. As part of a consortium they completed the $4.8 B purchase of UK-based Tomkins plc, as well as purchasing Australian-based Intoll for $3.4 B thus acquiring a 30% stake in the 407 Express Toll Route (ETR) near Toronto — which they expanded purchasing a further 10% stake from Spain’s Concesiones de Infraestructuras de Transporte, S.A. (CINTRA). They acquired a 25% equity stake in Westfield Stratford City, a retail complex adjacent to London’s Olympics venue, among many real estate ventures.

The CPP fund covers every province except Quebec, whose Caisse de Depot et Placement du Quebec is the only larger pension fund in Canada. The five-year annualised investment rate of return for the CPP reserve fund was 3.5%, its 10-year rate of return was 5.6%, at the close of 2010. The fund was established in 1997.

Saturday, September 1, 2007

The terrestrial analogue television broadcasts in Finland ended in September 1, 2007, at 04:00 local time, marking the transition to the digital DVB-T standard. DVB broadcasts were started in 2001, Users of terrestrial TV are no longer able to receive the formerly nationally available TV channels – YLE TV1, YLE TV2, MTV3, and Nelonen – without set-top boxes or TV sets with built-in digital receivers. SVT Europa is also no longer available in analogue networks.

Cable networks are permitted to make the analogue mode available until the end of February 2008.

While over 75% of households already use digital TV, as of mid-August, over 220 000 households that depend on terrestrial broadcasts have not yet purchased a set-top box. There are also areas where digital terrestrial broadcasts are not yet available. This is being remedied through relay transmitters that will be set up over the following months.

Sunday, August 20, 2006

Track star Marion Jones, winner of 3 gold medals in the 2000 Sydney Olympics, has tested positive for the performance enhancing drug, EPO. The hormone helps create extra red blood cells which allows the user’s body to absorb extra oxygen.

Jones was expected to compete in yesterday’s Golden League meet in Zurich, Switzerland, but left early in the morning for “personal reasons.” It was announced earlier today (UTC) that she had tested positive for EPO. Jones faces a two year ban if her B test sample comes back positive.

Jones has a history of association with steroid users and dealers. In 1999, her then husband CJ Hunter tested positive for a similar drug, nandralone. He had to withdraw from the 2000 Sydney Olympics, and received a two year ban.

Jones later divorced him, and in 2002 started a relationship with another track star, Tim Montgomery, who were both coached by Trevor Grahm.

Montgomery set a record in the 100 meter sprint of 9.78 seconds at a race in Paris that year. He was banned for two years and stripped of his record due to evidence in the Federal BALCO investigation. In the BALCO investigation, several witnesses stated that Marion Jones was taking banned substances received from BALCO.

Jones’ coach, Grahm, has been involved with 10 other athletes that tested positive and were ultimately banned for the use of illegal substances. Justin Gatlin, also coached by Grahm, also tested positive for artificial Testosterone, but has not been banned or stripped of his record.

Another American athlete, cyclist Floyd Landis tested positive for excessive levels of adrenaline after winning the Tour-de-France, which may lead to him being the first winner in the tournament’s history to be stripped of the title.

Wednesday, January 27, 2010

The bodies of two children were found this morning in a car in Heathfield, East Sussex, in the United Kingdom. A 43-year-old woman has been arrested on suspicion of the murders.

The boy and girl were both less than five years old, and were discovered at 11:46 this morning (GMT) when Sussex police officers forced their way into the vehicle, which was parked on Mill Close in Heathfield. The woman, who has yet to be identified, had visited Heathfield police station earlier this morning to report “an incident”, and was later arrested on suspicion of murder. The police say that they have identified the bodies. The identities will be revealed when the post mortem examinations take place, which is scheduled for next Thursday.

The woman was taken to Eastbourne District General Hospital, and has not yet been interviewed by the police. She is believed to be from Surrey but have connections with the Heathfield area. Mill Close, the road on which the incident occurred, has been closed, according to a police spokeswoman, who said, “An investigation is now under way and the area around the scene is cordoned off.” Chief Inspector Julia Pope, Wealden district policing commander, said, “This is a very tragic incident, but I would like to reassure people that it is fully contained and there is no threat to anyone in the area. We will move to restore normality and access to Mill Close as quickly as possible.” A spokesman for the South East Coast Ambulance Service said, “We sent an ambulance and two response cars but sadly two young children were pronounced dead at the scene.”

Wednesday, July 12, 2006

Canadian media company CHUM Limited has announced that it has agreed to be acquired by larger rival Bell Globemedia Inc. for $1.7 billion CAD cash, bringing the CTV and Citytv broadcast-television networks and such specialty channels as MuchMusic, TSN and Bravo! under the same corporate umbrella.

Shareholders will receive $52.50 per common share of CHUM and $47.25 per Class B (non-voting) share. The estate of the late Allan Waters, who died late last year, has agreed to tender all its shares to the bid, netting the Waters family nearly $450 million.

In a joint statement, CHUM’s chairman, Jim Waters, said, “In Bell Globemedia’s offer, we not only found value for shareholders, but confidence that we would be placing CHUM in the hands of an owner with the financial resources and track record to continue to grow and build on our collective legacy.”

Globemedia CEO Ivan Fecan added, “We are able to make this premium offer because Bell Globemedia is clearly the most logical buyer of CHUM. There is a unique strategic fit to our operations that can make the united company a stronger national champion in broadcasting. We intend to maintain and build the valuable CHUM brands and develop more opportunities for Canadian programming.” He added that CTV and Citytv will remain separate networks and “will maintain separate and independent news divisions in order to ensure a continued diversity and competition in news coverage.”

In a separate release, CHUM announced it would be cutting 281 jobs at its stations across the country, particularly at its Citytv stations in western Canada. Effectively immediately, evening newscasts at CKVU-TV Vancouver, CKEM-TV Edmonton, CKAL-TV Calgary and CHMI-TV in the Winnipeg market are being eliminated, with plans for a new newsmagazine tentatively titled In Your City at the three Prairie stations, and more resources being put into each station’s local version of Breakfast Television. Less drastic changes are planned for its A-Channel stations in smaller markets. The company said these changes will result “in a significant reduction in staffing and operating costs.”

The companies said that they expect to sell CHUM’s A-Channel stations, as well as Alberta educational broadcaster Access, to third parties, despite CTV’s historical ties to several of them. Many of the A-Channel stations were originally acquired by CHUM from Baton Broadcasting, the predecessor of Bell Globemedia, in 1997, as part of a trade that sent CHUM’s ATV and ASN assets in Atlantic Canada to Baton and allowed Baton to acquire the CTV network itself.

Despite CHUM’s ownership of MuchMusic and CTV’s recent launch of MTV Canada, the companies claim their specialty channels are “complementary” and did not indicate any sale plans.

Bell Globemedia is currently majority-owned by BCE Inc. but is awaiting regulatory approval for a restructuring involving the Ontario Teachers Pension Plan, Torstar Corp., and the Thomson family. In the interim, the takeover offer will be made by a new company owned by the proposed new shareholder structure.

Thursday, August 25, 2005

Created by the Brampton Arts Council and the City of Brampton, the Studios of Brampton studio tour will allow residents a chance to view works by dozens of local artists at twelve locations.

The tour will run October 1 & 2 from 10 pm until 4 pm ET.

On the tour are the personal studios of watercolourist Jack Reid, sculpture Marion Bartlett, woodworker Rick Bino, ceramicist Eric Wong, calligrapher and fashion illustrator Rosemarie Gidvani, abstract painter Karen Darling, oil painter John Cutruzzola, stain-glass artist Darlene Robichaud, and watercolourist Gordon Stuart.

Also on the tour is the Art Gallery of Peel, which will be exhibiting Sydney Drum, a Canadian artist based in New York, and Kelly McNeil.

Visual Arts Brampton and Beaux-Arts Brampton will both have line-ups of local artist members. VAB has confirmed displays by William Band, Bridget Doughty, Betty Jean Evans, Marguerite Finlayson, Conrad Mieschke, Keith Moreau, Mary Noble, Olga Rudge, and Elizabeth Patrick.

Sample works representing each location on the tour will be shown at the Brampton City Hall’s Atrium Gallery.