Controversial development training cited in religious discrimination lawsuits
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Controversial development training cited in religious discrimination lawsuits

Friday, May 23, 2008

A controversial development training course called “Landmark Forum” is cited in religious discrimination lawsuits in United States federal courts in New York and Washington, D.C. The seminars are run by a San Francisco, California-based for-profit training company called Landmark Education. The company evolved from Erhard Seminars Training “est”, and has faced criticism regarding its techniques and its use of unpaid labor. The sperm bank and surrogacy company Los Angeles-based Growing Generations is named as a defendant in the New York lawsuit, and the Democratic political action committee Twenty-First Century Democrats is a defendant in the Washington, D.C. case.

In separate lawsuits filed in the United States District Court for the Southern District of New York in Manhattan, New York, and in the United States District Court for the District of Columbia in Washington, D.C., former employees are suing their employers for monetary damages and claiming religious discrimination after their employers allegedly mandated that they attend courses at Landmark Education.

In the US$3 million federal lawsuit filed in New York, Scott Glasgow is suing his former employer Growing Generations and its CEO Stuart Miller. Growing Generations maintains sperm banks and also arranges surrogacy for gay couples who wish to have children. The company has offices in New York and Los Angeles, and has done business with celebrities including actor B. D. Wong of Law & Order: SVU.

Glasgow was marketing director of Growing Generations, and claims he was fired in June 2007 after refusing to continue attending Landmark Education seminars. Glasgow is also suing for sexual harassment, and claims Miller came on to him in September 2006. He made approximately $100,000 per year as the company’s marketing director, and was the company’s only employee based out of New York City. The company’s main offices are in Los Angeles.

I want them to stop imposing Landmark on the employees, and I want an apology.

“I was shocked when I was fired. It took me months to right myself. I want them to stop imposing Landmark on the employees, and I want an apology,” said Glasgow in a statement in The Village Voice. Brent Pelton, one of Glasgow’s attorneys, stated that: “The Landmark philosophy is deeply ingrained in the culture of the company”. Glasgow said that the Landmark Education training courses were “opposite” to his Christian beliefs. According to Glasgow he was questioned by Miller in May 2007 after he walked out of a Landmark Education course, and was fired shortly thereafter. “We stand by the allegations contained in the complaint and we look forward to proving them at trial,” said Pelton in a statement to ABC News.

Ian Wallace, an attorney who represents Growing Generations, claimed that Glasgow wasn’t fired but walked away from his position. “Growing Generations and Mr. Miller are very confident that these claims will be dismissed ultimately, and there’s no factual basis for them whatsoever,” said Wallace in a statement to The Village Voice. Lawyers representing Growing Generations and Stuart Miller declined comment to The New York Post, and did not immediately return a message from ABC News.

In Glasgow’s complaint, entered into federal court record on April 18, he asserts that Landmark Education constitutes a “religion”, and “perceived their philosophy as a form of religion that contradicted his own personal beliefs”. He states that when he was promoted to Director of Marketing, he asked Miller if he could stop attending the Landmark sessions but was told that they were mandatory for all of the company’s executives and that Landmark is “very much the language of the company.” Glasgow said his performance at the company was assessed based on how he was “touching, moving and inspiring” others, a phrase from the Landmark philosophy, as opposed to his business accomplishments at the company. The complaint claims that the actions of Miller and Growing Generations violated Federal, New York State and New York City civil rights laws.

The lawsuit filed in federal court in Washington, D.C. deals with a separate plaintiff and company, but the plaintiff in the suit also claims that religious discrimination took place for allegedly being mandated to attend Landmark Education courses. Kenneth Goldman is suing the United States Democratic political action committee Twenty-First Century Democrats (also 21st Century Democrats) and its former executive director Kelly Young. Goldman was formerly the communications director of 21st Century Democrats.

According to Goldman’s complaint, three employees of 21st Century Democrats were fired after refusing to attend the Landmark Forum course. The complaint asserts that Landmark Education has “religious characteristics and theological implications” which influenced the mission of 21st Century Democrats and the way the organization conducted business. Goldman’s complaint states that in addition to himself, a training director and field director were also fired after they made it clear they would not attend the Landmark Forum.

Goldman says executive director Young infused Landmark Education jargon terms into staff meetings such as “create possibilities”, “create a new context”, and “enroll in possibilities”. He also claims that Young “urged” staff members to participate in Landmark Education events outside of the workplace, drove employees to and from Landmark functions, and used funds from 21st Century Democrats to pay for employees to attend those functions. Goldman’s complaint asserts that he was discriminated against in violation of the District of Columbia Human Rights Act.

While we are not a party to this lawsuit and have no firsthand knowledge of it, we can only assume that we are being used as a legal and political football to further the plaintiff”s own financial interests.

In a statement in The Washington Times, the executive director of 21st Century Democrats, Mark Lotwis, called the lawsuit “frivolous” and said: “we’re going to defend our organization’s integrity”. Landmark Education spokeswoman Deborah Beroset said that the Landmark Forum “is in no way religious in nature and any claim to the contrary is simply absurd,” and stated: “While we are not a party to this lawsuit and have no firsthand knowledge of it, we can only assume that we are being used as a legal and political football to further the plaintiff”s own financial interests.”

The New York lawsuit was filed April 14, and is still in early filing stages. A conference with the federal court judge in the case has been scheduled for June 17. The Washington, D.C. suit began in November 2007, and entered mediation this past March. As of April 15 the parties in the case were due back to court on July 11 to update the court on the mediation process.

Landmark Education is descended from Erhard Seminars Training, also called “est”, which was founded by Werner Erhard. est began in 1971, and Erhard’s company Werner Erhard and Associates repackaged the course as “The Forum” in 1985. Associates of Erhard bought the license to his “technology” and incorporated Landmark Education in California in 1991.

This is not the first time employees have sued claiming mandatory attendance at “Forum” workshops violated their civil rights. In a lawsuit filed in December 1988 in the United States District Court for the Northern District of Georgia, eight employees of DeKalb Farmers Market in Decatur, Georgia sued their employer claiming their religious freedom and civil rights were violated when they were allegedly coerced into attending “Forum” training sessions. “Many of these training programs, particularly at large corporations, claim to be purely psychological, aimed at improving productivity and morale and loyalty. But in fact they are religious,” said University of Denver religious studies professor Carl Raschke in a statement to The Wall Street Journal.

The DeKalb Farmers Market employees were represented by lawyers for the American Civil Liberties Union. Consulting Technologies Inc., an affiliate of Transformational Technologies Inc., was named as a party in the lawsuit. Transformational Technologies was founded by Werner Erhard, and was not named as a party in the suit. The “Forum” course that the employees claimed they were mandated to attend was developed by Werner Erhard and Associates. Employees said that they were fired or pressured to quit after they objected to the Forum courses.

The workers claimed that the Forum course contradicted with their religious beliefs. The plaintiffs in the suit included adherents of varying religious backgrounds, including Christianity and Hinduism. “The sessions put people into a hibernating state. They ask for total loyalty. It’s like brainwashing,” said Dong Shik Kim, one of the plaintiffs in the case. The plaintiffs said they lost their jobs after objecting to a “new age quasi-religious cult” which they said was developed by Werner Erhard.

The DeKalb Farmers Market denied the allegations, and an attorney for the company Edward D. Buckley III told The Wall Street Journal that employees were encouraged, not coerced, to attend the training sessions. According to The Wall Street Journal, The Forum said it would not sanction workers being coerced to attend its training sessions.

The parties in the DeKalb Farmers Market religious discrimination case came to a settlement in May 1989, and the case was dismissed with prejudice in June. The terms of the out-of-court settlement were not made public, but the employees’ attorney Amy Totenberg told The Wall Street Journal that the case “has made employers come to grips with the legitimate boundaries of employee training”.

According to Title VII of the Civil Rights Act of 1964, employers must “reasonably accommodate” their employees’ religious beliefs unless this creates “undue hardship”. In September 1988, the Equal Employment Opportunity Commission issued a policy-guidance notice which stated that New Age courses should be handled under Title VII of the Act. According to the Commission, employers must provide “reasonable accommodation” if an employee challenges a training course, unless this causes “undue hardship” for the company.

In October 2006, Landmark Education took legal action against Google, YouTube, the Internet Archive and a website owner in Queensland, Australia in attempts to remove criticism of its products from the Internet. The company sought a subpoena under the Digital Millennium Copyright Act in an attempt to discover the identity of an anonymous critic who uploaded a 2004 French documentary of the Landmark Forum to the Internet. “Voyage au pays des nouveaux gourous” (Voyage to the Land of the New Gurus) was produced by Pièces à Conviction, a French investigative journalism news program. The Electronic Frontier Foundation represented the anonymous critic and the Internet Archive, and Landmark withdrew its subpoena in November 2006 in exchange for a promise from the anonymous critic not to repost the video.

Landmark Education itself has come under scrutiny for its controversial labor practices. The company has been investigated by the United States Department of Labor in separate investigations originating out of California, Colorado, and Texas. Investigations focused on the heavy reliance of unpaid labor in the company’s workforce, which Landmark Education calls “assistants” and deems volunteers.

An investigation by the U.S. Dept. Labor based out of Colorado found that activities performed by Landmark Education’s “assistants” include: “office, clerical, telephone solicitation and enrollment, as well as greeting customers, setting up chairs, handling microphones during the seminars and making coffee. Additionally, a number of volunteers actually teach the courses and provide testimonials during and after the courses.” The Colorado investigation’s 1996 report found that “No records are kept of any hours worked by any employees.” According to a 1998 article in Metro Silicon Valley: “In the end the Department of Labor dropped the issue, leaving Landmark trumpeting about its volunteers’ choice in the matter.” Metro Silicon Valley reported that Landmark Education at the time employed 451 paid staff, and also utilized the services of 7,500 volunteers.

After an investigation into Landmark Education’s labor practices by the U.S. Dept. Labor’s offices out of California, the company was deemed to have overtime violations. According to the Department of Labor’s 2004 report on the investigation, back wages of $187,569.01 were found due to 45 employees. An investigation by the U.S. Dept. Labor in Texas which concluded in 2005 stated: “Minimum wage violation found. Volunteers (Assistants) are not paid any wages for hours worked while performing the major duties of the firm. The assistants set up rooms, call registrants, collect fees, keep stats of classroom data/participants, file, they also are answering phones, training and leading seminars.”

The Texas investigation also discovered an overtime violation. Landmark Education agreed to pay back wages for the overtime violation, but did not comply with the overtime violation found by the U.S. Dept. Labor for the “assistants”. Landmark Education denied that the “assistants” are employees, though the Department of Labor report concluded: “Interviews reveal that the employees are taking payments, registering clients, billing, training, recruiting, setting up locations, cleaning, and other duties that would have to be performed by staff if the assistants did not perform them.”

According to the 2004 investigative report by Pièces à Conviction in the “Voyage au pays des nouveaux gourous” program, Landmark Education was investigated by the French government in 1995. In the “Voyage au pays des nouveaux gourous” program volunteers were filmed through a hidden camera and shown performing duties for Landmark Education in France including manning phones, recruitment and financial work for the company, and one volunteer was shown cleaning a toilet.

Le Nouvel Observateur reported that after “Voyage au pays des nouveaux gourous” aired in France, labor inspectors investigated Landmark Education’s use of unpaid volunteers. According to Le Nouvel Observateur, one month after the labor investigation took place the French branch of the company had disbanded. A former “Introduction Leader” to the Landmark Forum, Lars Bergwik, has recently posted a series of videos to YouTube critical of the company and its practices. Bergwik appeared on a 2004 investigative journalism program on Sweden’s Channel 4, Kalla Fakta (Cold Facts). According to Bergwik, after the Kalla Fakta program on Landmark Education aired, “Landmark left Sweden”.

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Rescue attempts continue for Tasmanian miners
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Rescue attempts continue for Tasmanian miners

Thursday, May 4, 2006

Rescuers are continuing their efforts to reach the trapped miners in the Beaconsfield mine in northern Tasmania.

A five tonne borer drilling machine has been secured in place to drill a one metre hole through the remaining 12-16 metres of rock that fell into the main shaft.

Since drilling began at 7pm last night, the machine has made a 2 cm wide pilot hole half way to the miners.

The trapped miners have been given egg sandwiches and yogurt, and have received apple ipod MP3 players filled with the miners favourite songs to pass the time and drown out the sounds of the drilling.

Meanwhile on the surface, the ever-growing media frenzy in Beaconsfield has forced the mine operators to enforce bag checks of rescuers entering the mine to ensure that no recording devices are taken into the mine.

Retrieved from “https://en.wikinews.org/w/index.php?title=Rescue_attempts_continue_for_Tasmanian_miners&oldid=1167387”

Category:Conflict-of-interest editing on Wikipedia
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Category:Conflict-of-interest editing on Wikipedia

This category mentions the Wikimedia Foundation, one of its projects, or people related to it. Wikinews is a project of the Wikimedia Foundation.

This is the category for conflict-of-interest editing on Wikipedia.

Refresh this list to see the latest articles.

  • 12 October 2015: Wikinews interviews painter Pricasso on his art and freedom of expression
  • 29 May 2009: Church of Scientology indefinitely banned from editing Wikipedia
  • 6 May 2009: Congressional computers continue to be used to vandalize Wikipedia
  • 2 September 2008: News agencies suggest that campaign operative for Republican Party edited article on vice presidential nominee
  • 26 August 2008: Staffs for US presidential candidates John McCain and Barack Obama caught making questionable edits to Wikipedia
  • 14 March 2008: Jimmy Wales accused of editing Wikipedia for donations
  • 5 March 2008: Wikipedia founder embroiled in affair and financial allegations
  • 10 September 2007: FOX News fares poorly in investigation of media edits to Wikipedia
  • 19 August 2007: U.S. House Ethics Committee to examine congressional press secretary vandalizing Wikipedia articles with government computer
  • 27 January 2007: Microsoft offers to pay blogger to ‘correct’ Wikipedia article
?Category:Conflict-of-interest editing on Wikipedia

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Purchasing Kids Toys That Are Personalized

Purchasing Kids Toys That are Personalized

by

Kevin Germain

Spring seems to be the season for birthday parties. We have five close birthdays within the months of May, June and July. I went to the store to find some presents and realized that nothing really stood out. Nothing was the type of personalized kid’s toys that I remember getting when I was younger. So I set to find something that could be played with outside that I could take home and personalize.

[youtube]http://www.youtube.com/watch?v=gvuR5l5JUQ8[/youtube]

I found the cutest little watering cans that I knew my nieces would love. I bought them and took them home. I knew I wanted to get them swimsuits too so I went in and found two that I thought were adorable. When I got home I got out the paint and went to town designing the watering cans with the same design that was on each of the girl’s swimsuits. I know the girls are going to love their gifts. Now I was on a mission to personalize toys for the other three birthday parties we have to go to. My niece who is turning two is a bit tricky for me. I decided that a step stool would be nice. This is the year of independence and she is going to be learning to potty train, help in the kitchen and start to want to reach her toys on her own. I purchased a sturdy wood stool from our local handyman. I happened to know that this is a special design he makes strictly for smaller children for sturdiness. It is perfect. It has two steps and is extremely stable and light enough for her to carry around on her own. To personalize if I took the colors from her new big girl bed spread and started to paint it. As I was painting it I thought of all of the adventures she likes to have. Her parents are avid hikers so I made sure to include some girlie hiking boots. She loves to get her nails done so I painted her getting a manicure. I wanted to make sure it was something she could use as she got older so I decided not to paint cartoons and princess which she might like today but not tomorrow. I finished the project with several coats of gloss and added non slip tape to the steps and voila a beautiful personalized children’s birthday gift. So as I was feeling creative to start I lost my mo-jo when it came to the last two parties we were to attend. I searched the web and found a website dedicated to selling personalized kid’s toys and accessories. My nephew that is in martial arts mentioned that he did not have a place to display his belts so I decided upon the KidKraft personalized martial arts belt holder. Complete with his name and the date he started martial arts on it. He is going to love it! Last but not least was my best friend’s son. I have lost all motivation for buying birthday presents but knew I loved this personalized gift giving idea. I went back to the site where I located the martial arts belt holder. I found the perfect item for him. He is into hiding his stuff from his four sisters. I purchased a KidKraft personalized locker. It will sit perfectly by his bedside and his personalized with his name. I know when he gets it he will love it. I can already see him locking up his Lego’s and books. This year I know the gifts we will give will be favorites. I know my kid’s favorite toys are the ones that have a personalized touch. I would recommend if you are looking for a kid’s toys that you search the internet and look for a personalized toy or item. The kid is your life will treasure it forever.

If you have enjoyed this article from Kevin Germain at CPS please visit

myfavoritekidstoys.com

today where you will find useful information on

personalized kid’s toys

.

Article Source:

ArticleRich.com

Former Wikileaks employee destroys unpublished leaked documents
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Former Wikileaks employee destroys unpublished leaked documents

Tuesday, August 23, 2011

A former Wikileaks employee has destroyed 3,500 unpublished leaks to Julian Assange’s site, and taken the site’s encrypted system to create a spinoff project.

Daniel Domscheit-Berg, Assange’s former right-hand man, left Wikileaks last year after a disagreement between the pair; and, has now demolished files sent to the Wikileaks site such as the US no-fly list, Bank of America documents and “detailed information about 20 neo-Nazi groups”.

Domscheit-Berg took the whistle-blower site’s submission system to create a rival-site, OpenLeaks, consequently Wikileaks will not be able to receive online leaked files, and will have to use “snail mail” from an Australian PO box.

In an interview with Der Spiegel, Domscheit-Berg said the unpublished documents had been shredded to protect their sources. In his book published this year, ‘Inside Wikileaks’, he revealed his motives for destroying the files and taking the encrypted system, writing, “children shouldn’t play with guns”. He stated the material would be returned to Assange “if and when he can prove that he can store the material securely and handle it carefully”.

Wikileaks retaliated, claiming the destroying of documents hindered the “leaking of many issues of public importance”, accusing Domsheit-Berg of theft and sabotage. Via twitter, Wikileaks gave several responses over the weekend, writing, “DDB spits on every courageous whistleblower who leaked data if they destroy the keys and refuse to return it”.

In a statement made by Wikileaks, Assange claims Domscheit-Berg was in contact with the FBI, and is assisting the US investigation into the site. Another statement from Wikileaks claims Domscheit-Berg has “repeatedly attempted to blackmail Wikileaks by threatening to make available, to forces that oppose Wikileaks, these private communications”.

On August 14, Wikileaks accused OpenLeaks of stealing its ideas. Domscheit-Berg aims to make the rival site a more transparent and democratic site than Wikileaks.

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NSW Parliament passes alcohol-fuelled violence bill hours after drafting
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NSW Parliament passes alcohol-fuelled violence bill hours after drafting

Saturday, February 1, 2014

Thursday morning, members of the Parliament of New South Wales, Australia, discussed drafts of two bills relating to liquor intoxication assault crimes starting at 10 o’clock in the morning (AEDT; 2100 UTC), and approved them later during the day: the Lower House approved at midday and the Upper House at 7pm. The new legislation imposes harsher penalties on behaviour under alcohol influence, and a set of other restrictions in the Sydney central business district (CBD).

The full formal names of the bills are Liquor Amendment Bill 2014 and Crimes and Other Legislation Amendment (Assault and Intoxication) Bill 2014. The latter was assented, while the former was still pending assent from the Governor-General. The bills were cognate. The latter formally commenced on Thursday except for Schedule 5, maximum fines changes, subject to commence on a day appointed by proclamation.

The opposition said they would support the legislation before they saw it, citing support of any progress on such laws. The opposition leader, John Robertson, said “We will support the Government’s one-punch laws. The Government had to be dragged kicking and screaming to do something about alcohol-fuelled violence.”

The parties, while actively discussing the draft, did not support amendments raised during the discussion and the bill passed more quickly than usual, on the same day. However, Greens Member of Parliament (MP) John Kaye didn’t support the bills, naming some issues he didn’t expect the bill to address but found more important, such as “the dangerous promotions of deep discounting of alcohol, the failure to enforce responsible service of alcohol in venues and excessive liquor outlet density”.

One provision defined a new offense, assault causing death while intoxicated — by alcohol or other drugs — with an eight-year non-parole period. The penalty notice fines for misconduct and swearing in public were raised from AU$200 and $150 to $500, while the maximum fine for “continuation of intoxicated and disorderly behaviour following move on direction” — direction “to leave a public place and not return for a specified period” — was increased from 6 penalty units ($660) to 15 penalty units ($1,650).

The legislation also restricted sales of alcohol from bottle shops in the CBD until 10pm instead of midnight.

The bill was drafted in response to death of 18-year-old teenager named Daniel Christie on January 11, following eleven days in hospital after allegedly being punched by drunk Shaun McNeil, 25, at Kings Cross. He allegedly also attacked Daniel’s brother, Peter; McNeil’s court case has been adjourned until March.

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How To Start Your Own Forex Trading Online

Submitted by: Mark Aucamp

This information is created for anyone who has an interest in forex trading online to generate income part-time or full-time. New traders will need to learn the basic principles of the foreign exchange market before starting. Whilst experienced traders can cosider this a refresher in forex trading online.

There are basically four steps to follow if you are considering trading forex online. Though, their order is not particularly important, the more important part is their content, to which the great attention and responsibility must be paid.

Forex Trading Online – The First step

Selecting the right Forex Trading Broker online is your first step.. You could have a great strategy, good technical analysis skills or an outstanding intuition but you will ultimately fail if you choose a bad broker. A good forex broker is one that will not steal your money, will perform real trading with your positions and will support your chosen deposit and withdraw methods and has fast and helpful user support service. Look for a broker that is registered with some sort of governmental financial ombudsman. Probably the most important aspects of the broker is it s trading platform – but for a new trader this part is not so crucial as for expert traders. Still you ll want to trade with some powerful and informative platform as a MetaTrader or its analogs. For new traders the more important is a demo account which is often used to trade virtual money while you are training your forex skills. If you’re new trader, start only with the demo account! Don t lose your cash on your first mistakes! Take advantage of learning forex trading using a demo account even if you are eager to start earning money -play it cautious!

[youtube]http://www.youtube.com/watch?v=R6ft90FLI-I[/youtube]

Forex Trading Online – The second step

Learning basic fundamentals of forex trading is an important second step. If you have already found your Forex Trading Online broker, you will easily get all information from its website or user support. There are numerous articles and websites dedicated to forex basics in the World Wide Web. All you have to do is just Google for forex trading basics and you ll find everything you wanted plus much more. This approach shouldn t be underestimated, because aiming to trade without learning the market works is not only very risky, it will also become boring soon.

Forex Trading Online – Third step

Education is a crucial third step to forex trading online. FX trading education is not similar to any other education you probably have got in your life. Forex Trading market is very chaotic, so is the training – there are no fixed rules and all time laws, it is unstable and dynamical. So, to be on the top you must learn new things about Forex Trading regularly and constantly. Aim to read plenty of books, articles other traders opinions as you can. The more you learn, the more educated you will be. And with good Foreign exchange education you will be able to create very sophisticated and effective trading strategies.

Forex Trading Online – Fourth step

To achieve the successful results in Forex Trading market you need to develop your very own strategies. While you are learning you ll be satisfied with known strategies and probably even forex signals. But true goal which results in successful forex trading is always to develop your own strategies. Not one strategy, but to follow the market day by day, developing new strategies and improving those which began to fail. And this comes not only to the trading strategy (this part is obvious), but also to the money management strategy (this part is often underestimated). While you gain experience of trading you ll inevitably build such strategies that will fit your trading style, you character and your life as best as they can. And after that, trading can become a genuine pleasure, which will eventually result in your financial freedom.

About the Author: Mark Aucamp continues to provide Talk Money Blog followers with Finance Advice in the areas of

Debt Management

, Financial Debts , and more. Mark has worked for quite some time as a Consultant and Advisor offering Debt Management and

Logbook Loan Advice

to fee paying customers. http://talkmoneyblog.co.uk

Source:

isnare.com

Permanent Link:

isnare.com/?aid=1153703&ca=Finances

On the campaign trail, June 2012
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On the campaign trail, June 2012

Thursday, July 5, 2012

The following is the eighth in a monthly series chronicling the U.S. 2012 presidential election. It features original material compiled throughout the previous month after a brief mention of some of the month’s biggest stories.

In this month’s edition on the campaign trail, a Green Party presidential candidate who announced his 2012 plans to Wikinews four years ago speaks to Wikinews once again, the candidate leading the California American Independent Party presidential primary discusses his campaign, and Wikinews explores whether Senator Rand Paul of Kentucky will be selected as the Republican Party vice presidential nominee.

Retrieved from “https://en.wikinews.org/w/index.php?title=On_the_campaign_trail,_June_2012&oldid=4467226”

US Federal Reserve raises interest rate from 5% to 5.25%
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US Federal Reserve raises interest rate from 5% to 5.25%

Thursday, June 29, 2006

The United States Federal Reserve has announced an increase of 25 basis points (0.25%) in the federal funds rate bringing it to 5.25 percent. It also announced its approval of a 25 basis point increase in the discount rate to 6.25 percent.

The federal funds rate is the interest rate at which depository institutions such as banks lend balances they maintain at the Federal Reserve (called federal funds) to other banks overnight. The discount rate is the interest rate that an eligible bank is charged to borrow short term funds directly from the central bank through the discount window.

In its statement, the Fed said that growth is moderating from its quite strong pace earlier in the year, which it partly attributed to a cooling of the housing market and the delayed effect of increases in interest rates and energy prices. The Fed noted that inflation measures were “elevated” in recent months and that while productivity gains have held down increases in labor costs and inflation expectations “remain contained”. However, it pointed out that high levels of resource utilization and high energy and commodity prices have the potential to sustain inflation pressures.

In its outlook over its future moves, the Fed statement said “Although the moderation in the growth of aggregate demand should help to limit inflation pressures over time, the Committee judges that some inflation risks remain. The extent and timing of any additional firming that may be needed to address these risks will depend on the evolution of the outlook for both inflation and economic growth, as implied by incoming information.”

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Charles Lazarus, founder of US-based toy retail giant Toys ‘R’ Us, dies at 94
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Charles Lazarus, founder of US-based toy retail giant Toys ‘R’ Us, dies at 94

Saturday, March 24, 2018

On Thursday, Charles Lazarus, the founder of United States toy retailer Toys “R” Us, died in Manhattan, New York, New York of respiratory failure. He was 94. His death came a week after Toys “R” Us announced that all of the stores were closing.

Toys “R” Us issued a statement in which they said, “There have been many sad moments for Toys “R” Us in recent weeks, and none more heartbreaking than today’s news about the passing of our beloved founder, Charles Lazarus. He visited us in New Jersey just last year and we will forever be grateful for his positive energy, passion for the customer and love for children everywhere. Our thoughts and prayers are with Charles’ family and loved ones.”

Michael Goldstein, who was a close friend and former Toys “R” Us chairman, said: “He was the father of the toy business. He knew the toys and loved the toys and loved the kids who would shop in the stores. His face lit up when he watched kids playing with toys.” In a phone interview Goldstein said that Charles Lazarus died in Manhattan.

Lazarus no longer held a stake in the chain, CNN reported. Lazarus took over his father’s bicycle repair shop in 1948 at the age of 25 and changed it to baby furniture. He opened the first Toys “R” Us store in 1957. Lazarus had remained its CEO until 1994.

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