Thursday, April 23, 2009

The United Kingdom Chancellor of the Exchequer, Alistair Darling, yesterday announced the 2009 budget. The budget is an annual audit of the nation’s finances, and decides what should be done with taxpayers’ money.

The chancellor fell under scorn for his GDP growth forecasts, which are considered to be too optimistic in predicting that Britain will bounce back from its weakest economic performance since the end of the second world war. Darling forecast GDP growth of 3.5% in 2011, even after he was made to downgrade his predictions. He expects a record expansion of 1.25% next year, but chief UK economist Howard Archer disagrees, calling Darling’s predictions “mildly optimistic in the near term and much more optimistic in the long term.”

His plans for savers and pensioners, however, were commended by many, though was also criticised by a large portion of the populace. In the budget, Darling increased the amount that savers can put into an Individual Savings Account (ISA) from £7,200 to £10,200, of which £5,100 can be saved in cash. These increased limits will be available only to people aged over 50 from 6 October this year, and will not be available to everyone until 6 April next year. A number of financial experts described the move as being “too little, too late”, and Rumina Hassam, of price comparison website uSwitch.com, said: “The government’s decision to increase the cash ISA limit by £1,500 to £5,100 for the over 50’s is a just another kick in the teeth for the majority of savers as they will have to wait even longer to benefit. There is no doubt that savers have been sacrificed as a result of the plummeting base rate, bringing savings rates to an all time low.”

Friday, May 26, 2006

In February of 2006, the Savarino Services Construction Corp. proposed the construction of a seven million dollar hotel on Elmwood and Forest Avenues in Buffalo, New York. In order for the hotel to be built, at least five properties containing businesses and residents would have to be destroyed. It was not certain whether the properties were owned by Savarino or by the landlord Hans Mobius. The hotel was designed by Karl Frizlen of the Frizlen Group, and is planned to be a franchise of the Wyndham Hotels group.

Elmwood Avenue is known by the community as a popular shopping center, and Nancy Pollina of Don Apparel (who is “utterly against” the construction) claims it’s the only reason why students from Buffalo State College leave campus. Additionally, Michael Faust of Mondo Video said he did not want to “get kicked out of here [his video store property].”

In 1995, a Walgreens was proposed to be built on the same land, but Walgreens later withdrew its request for a variance because of pressure from the community. More recently, Pano Georgiadis tried to get the rights to demolish the Atwater House next to his restaurant on Elmwood Avenue, but was denied a permit due to the property’s historical value. He has since been an opponent to the hotel construction.

In the process of debating the hotel, it was thought that a hotel had previously existed on the proposed site, however; research done at the Buffalo and Erie County Historical Society had shown that no hotel had previously existed on the site.

[edit]

Sunday, October 21, 2007

Fans of the American hard rock band Aerosmith have launched legal action against the band in response to a late cancellation of a scheduled concert on the Hawaiian Island of Maui.

Attorney Brandee Faria filed a class action suit in Hawaii Circuit Court on October 19. The suit alleges that the band’s cancellation cost fans between US$500,000 (€349,944) and $3 million (€2.1 million) in travel and accommodation costs, as well as other related expenses.

The sold-out September 26 Maui concert – originally planned months before as the final show of a world tour that began in Brazil in April – was canceled by the band on the basis that they could not make it to the island in time after a September 24 concert in Chicago. The Chicago concert, which attracted 18,000 people, was rescheduled at the last minute after the original September 10 concert date had been postponed due to illness.

The band canceled the show at Maui’s War Memorial Stadium, which was set to be attended by 9,000 people, and apologized to fans. The band’s management company, HK Management Inc., gave no initial reason when they canceled on September 20, but blamed logistical reasons by the next day.

However, just days later, on September 29, the band traveled to the neighbor island of Oahu to play a corporate event in Honolulu for Toyota car dealers and private guests. An audience of 6,000 people celebrated the 50th anniversary of the Japanese automobile manufacturer at the University of Hawaii, with Toyota paying $500,000 (€349,944) to hire the campus. Aerosmith received $1 million (€700,000) to perform at the event. Faria alleges that Aerosmith abandoned the scheduled public concert on Maui in favor of the more lucrative corporate event on Oahu.

“…Defendants simply canceled the only public performance by Aerosmith in favor of the larger Chicago venue and the lucrative, private concert for the Toyota car dealers,” the complaint states.

Local officials had hoped the concert would attract other big names to the island.

Faria said that “I’ve had people contact me being out of pocket at much as $800 or $900,” adding that if the cancellation is found to be deceptive ticket holders may be eligible for a minimum of $1,000 each. The complaint also says that those aged 62 or over should receive at least $5,000 each. Currently about a dozen ticket holders are involved with the suit. If the action is approved by a judge, steps will be taken to contact everyone who purchased a ticket.