Outrage
Follows Report Government To Spend $50 Million On Resort For "Young
Illegal Immigrants" - (www.zerohedge.com) While
we understand that there are many nuances in the ongoing illegal immigrant
debate, and there are certainly two sides to every story, we can't help but
wonder if the US government granting a $50 million award to BCFS Health and Human Services to house "young illegal immigrants at the
site of the current Palm Aire Hotel and Suites" in Weslaco, Texas is the
best use of government funding. As KRGV reported,
" A center for unaccompanied minors set to open in Weslaco later this year will
be the first of its kind in the nation, officials with a network of non-profits
said. A center for unaccompanied minors set to open in Weslaco later this
year will be the first of its kind in the nation, officials with a network of
non-profits said... Representatives with BCFS said the Palm Aire will undergo a
multi-million dollar transformation." Perhaps the reason why the public's
attention has not only been picqued by this news, but has led to a broad wave
of outrage, is that a cursory scan of the Hotel complex reveals accomodations
which are inaccessible to millions of Americans, let alone "unaccompanied
minor immigrants." BCFS has a prepared reason why it needs the funding: BCFS
runs a temporary detention center for young illegal immigrants at Lackland Air
Force Base in San Antonio. BCFS began as an orphanage for Hispanic children in
San Antonio in 1944. "Children ... who weren't able to go into other
orphanages. They weren't allowed at the white orphanages, they weren't allowed
at the African-American orphanages," said Krista Piferrer, with BCFS
external affairs
BofA
Profit Declines on $4 Billion Costs for Litigation - (www.bloomberg.com) Bank of America Corp., the second-biggest U.S. bank, said profit
declined 43 percent as it spent $4 billion to cover litigation costs, including
a mortgage settlement with American International Group Inc. (AIG)Shares of the company fell as much as 2.4
percent. Net income dropped to $2.29 billion in the second quarter, or 19 cents
a share, from $4.01 billion, or 32 cents, a year earlier, theCharlotte, North Carolina-based lender said today in a
statement. “The quality of earnings was weak, because where revenue beat
expectations, like in fee income, it really was based on equity and debt
securities gains,” said Charles Peabody, a Portales Partners LLC analyst. “It
doesn’t get people excited when the stock has already run up ahead of
earnings,” he said, referring to the 2.8 percent gain this week through
yesterday.
Rioforte
prepares to file for creditor protection - (www.reuters.com)
Rioforte, a holding company of Portugal's
troubled Espirito Santo banking clan, is preparing to file for creditor
protection, sources familiar with the matter said on Tuesday, hours before
Rioforte was due to repay over $1 billion in debt to Portugal Telecom. The
filing will be made with a court in Luxembourg, where Rioforte is registered,
one source close to the process said, adding that the filing is aimed at
preventing insolvency that would entail uncontrolled asset sales at any price. Rioforte
declined to comment. The sources would not comment on how such a filing could
impact Tuesday's deadline of a 847-million-euro repayment to Portugal Telecom
of Rioforte commercial paper.
They said negotiations between Rioforte and PT were still going on.
Google
Lawyer Turned Landlord Inflames City’s Tech Clash - (www.bloomberg.com) To
an outsider, it might seem that Google Inc. (GOOGL) in-house lawyer Jack Halprin’s dispute
with his tenants is about money. But it’s more complicated than rents and
return on investment. Halprin’s Google connection has intensified the anger
many San Francisco residents already felt over the influx of flush tech
newcomers like him. And things have gotten personal. Two years ago Halprin, 45,
paid $1.48 million for a 107-year-old Victorian in the city’s Mission District,
an increasingly popular destination for the hip -- wealthy and not -- to live
and congregate. Facebook Inc. (FB) Chief Executive Officer Mark
Zuckerberg paid
$10 million last year for a hillside home blocks away from from Halprin’s
Guerrero Street building. Halprin’s next moves pushed him to the fore in the
larger clash between tech’s moneyed workforce and longtime residents laying
claim to the city’s Bohemian legacy. Halprin moved into one of the seven rental
units he acquired and began a series of evictions to get rid of the other
tenants, beginning with Susan Coss, 48. He said he needed her unit for his
domestic partner, according to state court papers.
Hungry
U.S. Power Plant Turns to Russia for Coal Shipment - (www.bloomberg.com) When New
Hampshire’s
largest utility needed to rebuild coal supplies after the past frigid winter,
it turned to Russia rather than Appalachia in the U.S. Northeast or Wyoming’s Powder River Basin. The Doric Victory, a
bulk carrier the length of two football fields, transported the fuel almost 4,000
miles (6,436 kilometers) from Riga, Latvia, last month toPublic Service of New Hampshire’s Schiller power plant in Portsmouth, a 150-megawatt
facility that’s produced electricity since 1952. Utilities in the U.S. are
scrambling for coal, on pace to increase imports 26
percent this year, as railroad bottlenecks slow deliveries and electricity demand climbs with an improving economy. Russia,
the world’s third-largest exporter of the fuel, will boost shipments 3.9
percent to 106 million metric tons this year, IHS Energy forecasts, part of
President Vladimir
Putin’s
plan to expand Russia’s role in the global coal market.
Brazil
risks a recession as presidential campaign heats up - (www.reuters.com)
EU Considers New Russia Sanctions as U.S. Raises Pressure - (www.bloomberg.com)
EU Considers New Russia Sanctions as U.S. Raises Pressure - (www.bloomberg.com)
No comments:
Post a Comment