An Ecuadorian appeals court has upheld the US$18bn Lago Agrio judgment against US oil major Chevron (NYSE: CVX). Chevron continues seeking a reversal...
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Source: http://www.bnamericas.com/news/oilandgas/appeals-court-upholds-us18bn-ruling-against-chevron
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Source: www.last.fm --- Tuesday, January 03, 2012
http://www.last.fm/music/Tom+Scharpling+and+WFMU ...
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By Suttinee Yuvejwattana and Daniel Ten Kate
(Adds finance minister?s comments in second paragraph)
Dec. 30 (Bloomberg) -- Thailand?s government scrapped a proposal to transfer $35 billion of legacy debt from bank bailouts to the central bank, and will find other ways to alleviate the burden on the government?s finances.
?Transferring debts to the Bank of Thailand will be like printing money,? Finance Minister Thirachai Phuvanatnaranubala told reporters today. ?The methods we are using must not affect fiscal and monetary discipline and must not hurt confidence among foreign investors and international agencies.?
The decision came after a meeting today with Bank of Thailand Governor Prasarn Trairatvorakul. Deputy Prime Minister Kittiratt Na-Ranong said yesterday the step would save the government as much as 65 billion baht ($2 billion) in annual interest costs that could be used to fund anti-flood measures.
The proposal increased concerns that Prime Minister Yingluck Shinawatra?s administration was infringing on the central bank?s independence, after Kittiratt in October said the BOT should lower interest rates to help businesses cope with the country?s worst flooding since 1942. Thirachai had opposed the measure, warning earlier this week it could hurt investor confidence and stoke inflation.
The baht gained 0.4 percent to 31.64 as of 1:48 p.m. in Bangkok. Yesterday it fell the most in two months to the weakest level since Aug. 16, 2010, according to data compiled by Bloomberg.
Deposit Protection
The government may take 0.39 percent of the 0.4 percent fee that commercial banks pay to the Deposit Protection Agency to pay interest on the debt, Thirachai said, adding that it would amount to about 30 billion baht per year. The government also plans to amend the law to allow the Financial Institutions Development Fund to collect fees from commercial banks, which would amount to a further 20 billion baht, he said.
?This will remove the interest burden from the government,? he said. ?If the central bank records a profit, they can also use that to reduce the debt.?
The Financial Institutions Development Fund racked up a 1.4 trillion baht debt during the 1997 Asian financial crisis on loans aimed at rescuing struggling lenders. The government closed more than 60 non-bank financial companies and seized half of the nation?s 14 commercial banks that received help from the fund.
Under a repayment agreement in 2002, the finance ministry makes interest payments while the central bank pays down the principal whenever it earns a yearly profit. The Bank of Thailand has reported annual net income once since 2004 and last year reported a net loss of 117 billion baht, mostly due to losses on foreign exchange.
Since 1997, the principal on the debt has fallen by 300 billion baht, or about 21 billion baht per year. During that time the government has paid as much as 65 billion baht in interest annually, according to Kittiratt, who said yesterday the central bank would report a ?record high profit? for 2011.
--Editor: Tony Jordan
To contact the reporters on this story: Suttinee Yuvejwattana in Bangkok at suttinee1@bloomberg.net; Daniel Ten Kate in Bangkok at dtenkate@bloomberg.net
To contact the editors responsible for this story: Chris Anstey at canstey@bloomberg.net; Peter Hirschberg at phirschberg@bloomberg.net
Source: http://c.moreover.com/click/here.pl?r5694015235
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How can this brutal and costly enterprise be justified? Traditionally, philosophers answering this question have argued either that the punishment of wrongdoers is a good in itself (retributivism), or that it is a regrettable means to a valuable end, such as the deterrence of future wrongdoing, and thus justifiable on consequentialist grounds. This book offers a critical examination of those theories and advances a new argument for punishment's justification, calling it the 'duty view'. On this view, the permission to punish offenders is grounded in the duties that they incur in virtue of their wrongdoing. The most important duties that ground the justification of punishment are the duty to recognize that the offender has done wrong and the duty to protect others against wrongdoing. In the light of these duties the state has a permission to punish offenders to ensure that they recognize that what they have done is wrong, but also to protect others from crime.
In contrast to other justifications of punishment grounded in deterrence, the duty view is developed in the light of a non-consequentialist moral theory: a theory which endorses constraints on the pursuit of the good. It is shown that it is normally wrong to harm a person as a means to pursue a greater good. However, there are exceptions to this principle in cases where the person harmed has an enforceable duty to pursue the good. The implications of this idea are explored both in the context of self-defence, and then in the context of punishment. Through the systematic exploration of the relationship between self-defence and punishment, the book makes significant progress in defending a plausible set of non-consequentialist moral principles that justify the punishment of wrongdoers, and marks a significant contribution to the philosophical literature on punishment.
Source: http://lsolum.typepad.com/legaltheory/2011/12/legal-theory-bookworm-3.html
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Source: http://www.facebook.com/SI.Golf/posts/227709613973533
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A born (and some say one-dimensional) scorer, Davis used his time abroad to transform his game into a far more well-rounded one.
Over the past 15 months, the man who once scored 20 points a game in the NBA has called three continents and four countries home.
Ricky Davis' travels started after he was waived the Clippers in the 2009-10 season -- following an 12-year NBA career -- when he picked up with Turkish club T?rk Telekom B.K in March of 2010. He left Turkey for China that October, signing with the Jiangsu Dragons, then headed to France in the spring, joining up with Chorale Roanne. Fully recovered from a knee injury that hobbled him during his years in L.A., he felt, as he put it, that he was "back."So he came home. Urged on by a compact season that's already opened the door for 11 players out of the NBA D-League, Davis signed with the Maine Red Claws -- affiliate of his former team, the Boston Celtics -- and starts his NBA comeback tour on Thursday against the Canton Charge -- affiliate of another one of his former teams, the Cleveland Cavaliers. NBADLeague.com caught up with him after Red Claws shootaround on Thursday.
Kevin Scheitrum, NBADLeague.com: You?ve had a busy year. How are the frequent flyer miles doing?
Davis: I?ve got ?em built up. I?ve been to China. Been to France. All over.
NBADLeague.com: You were playing some great ball overseas. What prompted you to come Stateside, to the NBA D-League?
Davis: I think it?s better for me to stay in the States and work my way up to get called-up. Overseas is fun -- with FIBA, it?s great. But I think I?m more toward the end of my career.
NBADLeague.com: So obviously the goal here is to get back to the NBA as soon as possible, but do you have a mental timeline? What are your goals?
Davis: To come in and have fun. To come in and have fun, to help the team I?m on and get some victories, then let everything take care of itself. Pretty much trying to take it one day at a time, one play at a time and go from there.
NBADLeague.com: When you played, you were the quickest guy on the court. How has your game changed since you left the NBA?
Davis: Not at all. It?s pretty much the same game. I?m probably about two inches lower in my vertical. I?ve still got the quickness, and I?m just getting smarter as a veteran
NBADLeague.com: Sometimes it takes stepping away to learn something about yourself. What did you learn about yourself, about your game, after you left the NBA?
Davis: I learned a lot, of course. I just grew. It was more or less staying focused and looking back on some of the stuff that wasn?t good for me early in my career.
It was all a learning experience. I had fun with it, and now it?s about becoming a better player overall. A better teammate.
NBADLeague.com: Is there anything in particular you look back on and say, ?I wish I didn?t do this or that??
Davis: Not really. I did some bad things, but the only thing I regret is my triple-double. But everything else comes with experience. People forget I got drafted when I was 17, so I had a lot of young ?myself-myself? attitude, and now it?s more about being part of a team, and more of what I can do to help the team.
NBADLeague.com: You were always known as a scorer, maybe at the cost of the other parts of your game. But back then, you were scoring 20 points a game in the NBA. How much have you focused on defense and rebounding over the past few years?
People forget I got drafted when I was 17, so I had a lot of young ?myself-myself? attitude, and now it?s more about being part of a team, and more of what I can do to help the team.
Davis: Defense has always been there, but when you?re the leading scorer on the team you kind of shy away from the defensive end. But over the years, as you get more experience on defense, you learn that defense definitely helps in offense. And it?s been great working on rebounding and working on my whole-all-around game.
I want to get other people involved. I can score the ball. It?s like riding a bike. You never forget it.
NBADLeague.com: If you got called-up, you wouldn?t be the marquee scorer ? at this point in your career, what?s your value to an NBA team?
Davis: Being an all-around player, and still being that scorer. Definitely being a scorer is one of my skills, and it helps that I can definitely dish the ball and cheer my other teammates on. Instead of me being focused on playing 48 minutes, I?ll be focused on playing 25 minutes and helping get everybody the ball.
NBADLeague.com: How much did playing around the world make you appreciate what it?s like to play in the NBA?
Davis: A whole lot. One-hundred percent. It really humbles you. It brings you back to reality, and how you got there. [The NBA] was a good experience for me. I played 12 years, I could?ve kept going, but I think it was good for me to get humbled and start Path Two.
NBADLeague.com: What made you stick with the game, instead of hanging it up?
Davis: Those last few years with the Clippers, my knee was kinda hurting, I wasn?t explosive, but I didn?t want to let people know what was going on. I lost my explosiveness, and I couldn?t score the ball like I could in those two years.
Then, after the Clippers, I got my knee right, went overseas and realized I?m back.
NBADLeague.com: Just in the past year, you were in Turkey, China and France. Did you set up Get Bucket Brigades all over the world?
Davis: I sure didn?t. I actually wanted to, but it was hard with the language barrier. I got a couple church kids coming out [Thursday night], though ? 10-12 of them.
NBADLeague.com: How?d the language-learning go? Did you pick up anything?
The NBA was a good experience for me. I played 12 years, I could?ve kept going, but I think it was good for me to get humbled and start Path Two.
Davis: I can talk a little in Turkish, and I know a little French. Chinese is a little tough, though.
NBADLeague.com: The NBA D-League is known as a place where you make your mark in rebounding, defense and ball control. Are you looking to really play up the rebounding angle of your game? Maybe go after more balls than you normally would, and put less of a focus on scoring?
Davis: I?m coming in to grab boards and do what I do best, and that?s scoring. I added in the getting-people-involved part, but you gotta do what you do best, and for me that?s scoring.
NBADLeague.com: How much did having a shortened, compact schedule ? with a lot of expected player movement ? have to do with your coming to the NBA D-League?
IDavis: That had a lot to do with it ? it was a big plus. With a short season and not knowing your whole roster, and a short training camp, I think it?ll be good for me as a veteran player, to sneak in there and make a roster.
NBADLeague.com: A lot of the veterans in the NBA D-League talk about how much they enjoy being able to teach the younger guys, in addition to their own quest for the NBA. What are you gonna try to get across to the young guys?
Davis: You tell them to stay focused. You can lose focus from game to game to game, and the thing is to go game to game, don?t get too cocky, stay humble and make others better. I think that?s when you become more successful and powerful, when you?re making others better.
NBADLeague.com: A lot of the Maine fans know you from your Celtics days. How excited are you to play in front of them?
Davis: Absolutely. I think that was a great place for me, in Maine, and Boston, where we got the Bucket Brigade still over there. It?ll be great for me to go back to where I had a great time playing. And I?m starting in a game where we?re playing Cleveland, I mean Canton, so those are two of my old places. I?m looking forward to contributing
Source: http://www.nba.com/dleague/news/ricky_davis_reclaws_q_and_a_2011_12_29.html
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Mitt Romney is mostly ignoring his GOP rivals, concentrating instead on challenging Barack Obama. It's part of his general election strategy, designed to show Republicans in Iowa and elsewhere that he'd be most 'electable' next November.
As the New Year?s weekend revelry slides toward the more serious Iowa caucuses next Tuesday, Mitt Romney?s steady-as-she-goes campaign increasingly centers on the bottom line in presidential nominating politics for challengers: electability.
Skip to next paragraphHe?s leaving it to independent PACs to rhetorically bludgeon his GOP rivals, campaigning with such prominent and respected supporters as New Jersey Gov. Chris Christie. And though there are months and many primary elections to go, Romney already is running against Barack Obama.
That makes sense, given what could be the most important element in this past week?s CNN poll in Iowa.
Ron Paul leads Romney on most issues. But asked who had the best chance of beating Obama, Iowa Republicans made it clear: At 41 percent, Romney nearly triples Paul?s 14 percent. Asked who?s more ?presidential,? Romney leads Paul by 6 points (25-19).
Other polls indicate Romney?s strength versus Obama as well.
As noted by Real Clear Politics, Romney is the only GOP hopeful who bests Obama in any of the recent polls (Rasmussen Reports and Public Policy Polling). And on the Real Clear Politics polling average, Romney is much closer to Obama (1.6 percentage points), than Newt Gingrich (8.9 points), Rick Perry (12.5 points), Michele Bachmann (15 points), Rep. Paul (7.7 points), or Jon Huntsman (8.6 points).
As Obama?s favorability ratings creep upward, the relative strength of the challenger as measured by the somewhat ineffable ?electability? becomes more important ? hence Romney?s directly engaging Obama.
?I will be talking about his record and his failure, and he will be trying to make this a personal attack, which I think will sour the American people,? Romney told the Boston Herald. ?One of the reasons people supported candidate Obama was his soaring vision for a more positive America, and he has now succumbed to the more base form of politics which is attacking individuals, dividing Americans and poisoning the spirit of leadership.?
If that sounds like Romney is offering his own version of ?hope and change,? he is.
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