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Monday, January 25, 2010

Sales of previously owned homes in the US fell at the fastest rate ever recorded last December, according to data from the National Association of Realtors (NAR).

According to the association, existing home sales fell 16.7% last month, to an annual rate of 5.45 million, the largest crash since 1968. The figure was less than the 5.90 million units, or an eleven percent drop, predicted by most analysts.

Sales of homes went up for the entire of 2009 to 5.156 million units, or 4.9% for the year, and prices dropped from 2008 by 12.4%.

NAR chief economist Lawrence Yun described the figures as being “probably the largest annual drop since the Great Depression”. He said that “the market is going through a period of swings driven by the tax credit. We’re likely to have another surge in the spring. Job creation is the key to a continued recovery in the second half of the year.”

Pierre Ellis, a senior economist for Decision Economics in New York, commented on the figures, saying: “The drop in home sales is the payback for the acceleration of sales that occurred with the original first-time home buyers tax credit. […] There is an issue as to whether the decline represents a fundamental weakening.”

“The housing market continues to face significant headwinds, including high unemployment, record delinquencies and foreclosures, the specter of rising mortgage rates as the Fed’s [mortgage-backed securities] purchase programs comes to a close in late March, and tight credit,” Omair Sharif, an economist for RBS Securities, noted.

“Still, the resale market showed resilience in the second half of 2009, and the expansion and extension of the tax credit to April 30 could boost purchases during the spring selling season,” he said.

“We’ll see a pickup in existing home sales in the next couple of months as people take advantage of the tax-credit extension”, economist Adam York of Wells Fargo Securities LLC in Charlotte, North Carolina claimed. He fore-casted a pace of 5.4 million. He said that there were unlikely to be buyers of homes, despite the fact that the U.S. was “past the bottom.”

All four regions of the country saw a decline in sales. In the Northeast, sales fell 19.5 percent, in the Midwest, they plunged 25.8 percent. The South, the country’s largest region, saw a 16.3% decline, while in the West, sales waned by 4.8%.

US stocks fell slightly after the announcement, but went back up later in the day.

Sunday, October 4, 2015

Nine people were killed on Thursday by 26-year-old Chris Harper Mercer on the campus of Umpqua Community College in Roseburg, Oregon. By various reports seven or nine people were also injured. Officials said Mercer killed himself during the subsequent shootout with police.

Mercer began the killing spree in a class where he was a student by shooting the class teacher, and killed eight students in that and at least one other classroom. In the next classroom, a student nurse unsuccessfully tried to save the life of her friend who was wounded by the gunman. Another student, ex-soldier Chris Mintz, was shot seven times after coming to help.

The reasons for the attack are not known but CNN reports he singled out people who identified themselves as Christian. The BBC noted Mercer may have revealed his plans via social media and possibly left a written statement. He briefly served in the US Army in 2008.

An ATF (Bureau of Alcohol, Tobacco, Firearms and Explosives) agent said authorities found six weapons at the college and a further seven weapons from the gunman’s home, including a shotgun, all of which appear to have been obtained lawfully by Mercer and members of his family. State laws permit people to carry concealed weapons in higher education institutions and at least one other person at the college was armed. Oregon recently passed a new gun law in response to a shooting incident in 2012, in which a man used a stolen rifle to murder two other people in a Portland shopping center.

Later on Thursday, President Barack Obama spoke for twelve minutes about the incident and called for stricter gun controls in line with other countries like Australia and the United Kingdom. Referring to earlier similar shootings, he said “Somehow this has become routine. The reporting is routine. My response here at this podium ends up being routine, the conversation in the aftermath of it. We have become numb to this”. This is reportedly the fifteenth occasion Obama has spoken out after such a killing spree. He expressed his belief that there would soon be a “press release” from the pro-gun lobby, who would call for a reduction of gun controls. He also predicted there would be criticism levelled at him about his politicization of the matter, but he said “this is something we should politicize.” Although no new initiative was outlined, Obama highlighted Congressional opposition which had stopped “the collection of data on shooting incidents” and stated “this is not something I can do myself.”

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Sunday, April 8, 2012

According to press releases from the French Nuclear Safety Authority (ASN), Unit 2 of the Penly Nuclear Power Plant in France shut down Thursday afternoon after operators were alerted to “small quantities of burning oil.” The plant is operated by Électricité de France (EDF). Emergency crews were dispatched to the 1,330-megawatt French reactor following an alarm triggered there at 11:20 UTC Thursday. According to EDF, there were “no consequences for the environment” and no one was injured.

The ASN said in a statement the anomaly had been provisionally placed at level 1 on the International Nuclear Event Scale, which ranks occurrences at nuclear power plants on a scale ranging from 1 to 7, with 7 representing an event with lasting consequences for health and the environment such as the Fukushima Daiichi disaster following a Tsunami in Japan in March 2011.

The alarm was triggered after two fires broke out in the reactor building. The fires are reported to have been caused by leaks in one of the cooling pumps that are part of the reactor’s cooling system. The source of the fire was determined to be one or more pools of oil which had leaked from one of a pump’s joints, catching fire. They were quickly suppressed and the reactor remains shut down due to damage to the cooling pump.

After the fires were put out, radioactive water was then discovered to be leaking from the pump into the reactor’s drainage bin.The ASN released a statement at 05:00 UTC saying they had received “confirmation by EDF that the leak in the primary pump n°1 of the reactor n°2 at the Penly NPP had stopped.” ASN has undertaken an investigation into the causes of the incident which will later be published on their website. The reactor will remain shut down until the damage is repaired and the cause of the incident is known.

The Penly nuclear site, located on the coast to the northwest of Paris, is home to two Pressurized Water Reactor (PWR) units and is cooled using water from the English Channel. PWRs are a common variety of nuclear reactors named for their use of highly pressurized water in their primary cooling systems. All of the 58 nuclear power plants which supply France with over 75% of its energy, are of this type.

Friday, March 13, 2009

A team of archaeologists excavating an Ancient Egyptian tomb have discovered golden jewelry in a recently-discovered lower chamber at the Valley of the Kings burial site in Luxor, Egypt.

Two golden rings and five golden earrings were found in the tomb of Djehuty, an 18th-dynasty official of Queen Hatshepsut, and were probably the property of Djehuty or his family.

The discovery was announced by Farouk Hosni, Egypt’s current Minister of Culture.

Djehuty was overseer of the treasury and overseer of works for the Queen. Hatshepsut reigned approximately 1479–1458 BCE. Djehuty was responsible for managing the huge amounts of precious goods brought in from Egypt’s military expedition to Punt in the Horn of Africa and the vast building projects of Hatshepsut which have made the female pharaoh one of the most-remembered of any from ancient Egypt.

Djehuty died after Hatshepsut did, sometime during the reign of Thutmosis III. Both Hatshepsut’s and Thutmosis’s names are recorded on the tomb. In a fashion typical of ancient Egyptian rivalries, Hatshepsut’s name was partly obscured on the monument over the tomb sometime after the queen’s death.

The team, led by José Manuel Galán of the National Research Center (Consejo Superior de Investigaciones Científicas, CSIC), in Madrid, Spain, had been excavating the tomb, designated TT11 and located in the necropolis of Dra’ Abu el-Naga’, since 2002. While much of Djehuty’s funerary equipment was lost to fire in antiquity, the lower chamber of his tomb was concealed at the end of a three-meter shaft and discovered at the end of 2008.

A superficial description of the tomb itself was recorded almost two hundred years ago by 19th-century French Egyptologist Jean-François Champollion, rubble blocking the entrance hindered excavation until the 21st century. In that time, emphasis in Egyptology has changed from the cataloging of treasures to the investigation of ancient culture, life and religion.

Since excavation began, Djehuty’s tomb has yielded a number of surprises. It was discovered that the tomb was re-used repeatedly up to and during the Greco-Roman period. There is an unusual face-on depiction of pharaoh Thutmosis III hunting ducks, and the mummy of a young, bejewelled, as-yet unidentified woman.

In 2007, 44 preserved bunches of flowers thought to be from Djehuty’s funeral were found in the site. In their 8th season of excavation, which ended on February 22, 2009, the team also found considerable evidence that below Djehuty’s tomb is a network of burial sites from the 11th dynasty, four thousand years old.

The lower chamber also displays passages from the Egyptian funerary text the Book of the Dead on its walls and a colorful mural of the goddess Nut, an embodiment of the heavens, on the ceiling. The names of Djehuty and his parents were also intact in the second chamber; the names were defaced in the previously-known first chamber of the tomb, which had also been looted.

According to a press release from Dr. Zahi Hawass, Secretary General of Egypt’s Supreme Council of Antiquities, Djehuty’s tomb is only the fifth known decorated burial chamber of the 18th dynasty. An additional unusual feature of the tomb is that its upper chamber is decorated in relief, rather than simply paint. When the excavation is completed, Dr Galán’s team plans to open the site to the public as the carved stoneworks will not be destroyed by tourists’ activities as paint would.

The identification of Djehuty is a complicated one, as a number of officials of the 18th dynasty bore the name, including a general and several governors. The name itself is an alternate transliteration of the name of the Egyptian god usually written in English as Thoth.

Tuesday, September 2, 2008

File:Burj dubai palms.jpg

Burj Dubai in the United Arab Emirates is now the world’s tallest man-made structure, after reaching a record height of 688 metres, The tower is now over 160 stories – the largest number of floors in any building across the world, its developer real estate giant Emaar Properties said in a statement.

The tower unofficially became the world’s tallest man-made structure in April, 2008 after surpassing the KVLY-TV mast (628.8 metres) in North Dakota in the United States. Though the final height of the tower has not been disclosed yet, it is expected to reach 800m. It will be officially recognised as the world’s tallest structure only when the construction is fully completed.

The tower was designed by Chicago, Illinois-based Skidmore and is being constructed by high-rise building experts from South Korea’s Samsung Engineering & Construction, Belgium’s Besix and United States Turner Construction.

Tuesday, January 27, 2009

Starting February 1, Cospas-Sarsat will discontinue monitoring the frequencies that are used for analog-based emergency position-indicating radio beacons (EPIRB), the 121.5 and 243 MHz frequencies. Search and rescue (SAR) groups worldwide will only monitor the 406 MHz frequency, which is dedicated to digital locators.

The 406 MHz digital band has many advantages over the older analog systems. Since the locators send data to satellites, rather than just provide a continuous signal, much more will be known about the emergency before a SAR group arrives, such as the type of vehicle and owner. In addition, the accuracy will be greatly enhanced from a 1400 square kilometre (500 square mile) search zone down to just 90m (100 yards) if the locator has a GPS fix. The most important reason for the switch is the reduction of false positives. With the older analog bands, only about one in every 50 alerts was real, whereas with the digital system that is reduced to about one in every 17 alerts being real.

With fewer false positives and greatly increased accuracy, SAR groups around the world will be better able and faster to respond to life-threatening emergencies within the critical “golden day”. They will also be able to do this with fewer wasted resources.

The phase-out of analog transponders has been a long time coming. The first warnings were sent by the US Coast Guard in 2000, and analog devices have not been manufactured in the last several years. For most large boats the cost of upgrading to the new system was negligible. The change February 1 is worldwide, with both the International Civil Aviation Organization and the International Maritime Organization recommending the switch.