India suspends Kingfisher Airlines' licence

NEW DELHI (Reuters) - Kingfisher Airline's licence was suspended on Saturday after it failed to address the Indian regulator's concerns about its operations, forcing the debt-laden carrier to stop taking bookings.

Controlled by Vijay Mallya - the self-styled "King of Good Times" - and seven months behind on salary payments among other missed bills, Kingfisher's fleet has been grounded since the start of the month when a staff protest turned violent.

The airline, which has never made a profit since being founded in 2004 and reeling under $1.4 billion of debt, will have its licence reinstated if it provides a plan that satisfies the Directorate General of Civil Aviation (DGCA).

A complete cancellation of the licence was unlikely, said a government source, who declined to be named as he is not permitted to speak to the media.

The company's steep decline has underlined the problems of operating in India's airline sector, where players grappling with rising fuel costs face aggressive pricing caused by overcapacity.

The suspension signaled the regulator's lack of patience with Kingfisher after months of cancelled flights and staff walkouts, and marked a rare tough stance by the government against a high-profile corporate.

"The actual position is not changed because of this order," Kingfisher said in a statement. "We have, in any case, always maintained that once the issues with the employees are resolved, we will first present our resumption plan to DGCA for review, before resuming operations".

Kingfisher, which had previously suspended all bookings before November 6, said it would cease taking any reservations until operations resumed.

Mallya, a liquor baron who owns a Formula 1 motor-racing team, is famous for lavish parties at his $16 million beachside villa in Goa and also his company's annual swimsuit calendar.

The licence suspension, until further notice, was announced by Arun Mishra, director general at the DGCA.

The move had been widely expected after Kingfisher failed to respond properly to queries from the regulator regarding its ability to provide a "safe, efficient and reliable service".

"The suspension of Kingfisher's licence is unfortunate but not unexpected," Amber Dubey, director, aerospace and defence at KPMG India, said in a statement. "Kingfisher's ability to bounce back from this situation appears challenging."

Kingfisher's woes will likely help rivals such as Indigo and SpiceJet by lowering capacity on key routes.

The airline had said on Friday it expected to begin flying again on November 6 if the government approved its plan to resume operations.

The Centre for Asia Pacific Aviation has said a fully funded turnaround for Kingfisher would cost at least $1 billion.

(Writing by Henry Foy; Editing by Dan Lalor)

Source: http://news.yahoo.com/india-suspends-kingfisher-airlines-license-092354161--finance.html

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The Wide-Ranging Benefits of Your Insurance Policy Peter Konig Art

Oct20

Lewisville Auto Insurance Every year, more cars and drivers travel the highways. With countless vehicles on the road, accidents will happen. The difference between a small bother and major pain can be automobile insurance. So how do you know what insurance you need and how much to buy? Auto insurance protects you by paying for damage caused to your car or another person?s car and injury to others, yourself, or your passengers, and certain other occurrences, such as theft. Car insurance is mandated by law in all states and provinces. Without insurance, you risk having to pay the full cost of any harm you cause others or of repairing or replacing your car if it is damaged or stolen.Liability pays for damages due to bodily injury and property damage to others for which you are responsible. Bodily injury damages include medical expenses, lost wages and pain and suffering. Property damage includes damaged property and loss of use of property. If you are sued, it also pays your defense and court costs. State laws usually mandate minimum amounts, but higher amounts are available and usually recommended. Personal injury protection: This is required in some states and is optional in others. It pays you or your passengers for medical treatment resulting from a crash, regardless of who may have been at fault, and is often called no-fault coverage. It may also pay for lost earnings, replacement of services and funeral expenses. The minimum amount of this insurance is usually set by the state. Medical payments: This type of coverage is available in non-no-fault states and will pay no matter who is responsible for the accident. It pays for an insured person?s reasonable and necessary medical or funeral expenses for bodily injury from a crash. Collision: Pays for damage to your car caused by a collision. Comprehensive: This applies if your car is stolen or damaged by causes other than collision, including fire, wind, hail, flood or vandalism. Uninsured motorist: Pays for damages when an insured person is injured in a crash caused by another person who does not have liability insurance or by a person who cannot be identified (usually a hit-and-run driver). Under-insured motorist: Pays for damages when an insured person is injured in a crash caused by another person who does not have enough liability insurance to cover the full amount of the damages. Other coverages, like car rental and emergency road service, are also available.Your auto insurance payments vary by company and will depend on several factors, including: * What coverage you select * The make and model of the car you drive * Your driving record * Your age, sex and marital status and * Where you live Many people think of auto insurance as a necessary evil, but it can save your financial well-being. Evaluate your needs, do your research and with the help of your insurance agent choose the option that best suits you.

Source: http://peterkonigart.com/the-wide-ranging-benefits-of-your-insurance-policy-4/

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Be Nice to Your Sad Friends with BlackBerries

Plato said "Be kind, for everyone you meet is fighting a hard battle." This is particularly true if you meet someone using a BlackBerry, perhaps the hardest of all battles. But they don't deserve pity. Around BlackBerry users, we must remember manners, courtesy, and a few basic rules of kindness. More »

Source: http://feeds.gawker.com/~r/gizmodo/full/~3/zaC7NvoNrO4/be-nice-to-your-sad-friends-with-blackberries

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Sony cutting 2000 jobs in Japan | Video Game Blog, Video Games ...

By joarPublished: 19 October 2012 8:53 AM UTC

Posted in: News, Playstation News

Tags: financial, Jobs, Sony

Japanese behemoth Sony has announced its plans to cut 2000 jobs in Japan via an early retirement scheme. The PlayStation devision is sacrificing the most, with 20% of its workforce being sacked by year?s end. According to Sony this will allow them to save around 30 billion yen annually.

This should come as no surprise as Sony themselves announced plans to cut 10,000 jobs earlier this year. The company says that this move will ?revitalize and grow? its electronics business. Sony as a whole has been struggling financially for years now. In August, they revealed a $312 million loss for the first quarter of 2012, with $45 million of that being attributed to its gaming devision. They?ve also been closing studios left and right, including Zipper Interactive, Big Big and Studio Liverpool. Here?s to hoping they can turn things around.

via The Next Web

Article from Gamersyndrome.com

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1. Sony confirm new console!
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4. Sony?s Kevin Butler Pokes Fun at Wii and Natal
5. Sony Buys Media Molecule

Source: http://gamersyndrome.com/2012/news/sony-cutting-2000-jobs-in-japan/

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The HTC J Butterfly looks amazing, Bionic owners getting ICS [From the Forums]

Just in case you missed out on some of the Android news today, now is the time to go ahead and get yourself fully caught up. Here on the blogs and in the Android Central Forums there is plenty to talk about. Have some questions? Need some help or just looking to chat Android? You know where to go, check out some of the threads below to get started.

• Rumored Device Forums - HTC J Butterfly North American variant?
• Samsung Galaxy S3 Forums - Jelly Bean leak improved LTE and WiFi. Just me?
• Google Nexus 7 Tablet Forums - What's on the playground?
• Droid Bionic Forums - ICS update for the Bionic.. finally!
• Android Contest Forums - [Open] Android Central's Million Member Giveaway!

We've got nearly 1 million members helping members and nearly 2 million posts in our Android Forums. Are you one of them? Join today!

Source: http://feedproxy.google.com/~r/androidcentral/~3/VMYr34z5tbc/story01.htm

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Feature on Grey Likes Baby! ? ex ? photographers

Who We Are

exposure | photostyle is owned by Tyler & Rachel who grew up and live in Peoria, IL. Beau, our third photographer, is a friend and uber-helpful Jack-of-All-Trades who has been cello teacher, graphic designer, athletic director, and lifeguard (in addition to being an amazing photographer) all before age 23. Nelson, Tyler's brother and another business founder, is now available for hire in the Chicago area. As a team of baby, family, senior and wedding photographers, we have over 20 years of professional experience.

There's more (including photos) here.

Source: http://blog.ex-ps.com/favorites/feature-on-grey-likes-baby/

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Federal Reserve bomb suspect considered Obama as potential target

NEW YORK (AP) ? A Bangladeshi man snared in an FBI terror sting considered targeting President Barack Obama and the New York City Stock Exchange before settling on a car bomb attack on the Federal Reserve, just blocks from the World Trade Center site, a law enforcement official told The Associated Press on Thursday.

The official, who was not authorized to speak publicly about the investigation and talked to the AP on condition of anonymity, stressed that the suspect never got beyond the discussion stage in considering an attack on the president.

In a September meeting with an undercover agent posing as a fellow jihadist, Quazi Mohammad Rezwanul Ahsan Nafis explained he chose the Federal Reserve as his car bomb target "for operational reasons," according to a criminal complaint. Nafis also indicated he knew that choice would "cause a large number of civilian casualties, including women and children," the complaint said.

The bomb was phony, but authorities said that Nafis' admiration of Osama bin Laden and aspirations for martyrdom were not.

FBI agents grabbed the 21-year-old Nafis ? armed with a cellphone he believed was rigged as a detonator ? after he made several attempts to blow up a fake 1,000-pound the bomb inside a vehicle parked next to the Federal Reserve Wednesday in lower Manhattan, the complaint said.

Nafis appeared in federal court in Brooklyn on Wednesday to face charges of attempting to use a weapon of mass destruction and attempting to provide material support to al-Qaida. Wearing a brown T-shirt and black jeans, he was ordered held without bail and did not enter a plea. His defense attorney had no comment outside court.

[Related: Suspect's family shocked]

Nafis is a banker's son from a middle class neighborhood, and family members said Thursday that they were stunned by his arrest.

"My son can't do it," his father, Quazi Ahsanullah, said as he wept in his home in the Jatrabari neighborhood in north Dhaka, Bangladesh.

"He is very gentle and devoted to his studies," he said, pointing to Nafis' time at the private North South University in Dhaka.

However, Belal Ahmed, a spokesman for the university, said Nafis was a terrible student who was put on probation and threatened with expulsion if he didn't bring his grades up. Nafis eventually just stopped coming to school, Ahmed said.

Ahsanullah said his son convinced him to send him to America to study, arguing that with a U.S. degree he had a better chance at success in Bangladesh.

"I spent all my savings to send him to America," he said.

He arrived in January on a student visa and studied for one semester at Southeast Missouri State University, but requested a records transfer in January and the University did not know why. Apparently, he instead decided to plot an attack, reaching out for possible conspirators who turned out to be government agents, authorities said.

He had sought assurances from one undercover, posing as an al-Qaida contact, that the terrorist group would support the operation.

"The thing that I want to do, ask you about, is that, the thing I'm doing, it's under al-Qaida?" he was recorded saying during a meeting in a bugged hotel room in Queens, according to the complaint.

Later, Nafis "confirmed he was ready to kill himself during the course of the attack, but indicated he wanted to return to Bangladesh to see his family one last time to set his affairs in order," the complaint said.

But there was no allegation that Nafis actually received training or direction from the terrorist group.

The federal case was the latest where a terrorism plot against the city turned out to be a sting operation.

Four men were convicted in 2009 in a plot to bomb synagogues and shoot down military planes with missiles ? a case that began after an FBI informant was assigned to infiltrate a mosque in Newburgh, about 70 miles north of New York City. The federal judge hearing the case said she was not proud of the government's role in nurturing the plot.

A Pakistani immigrant was convicted in 2006 for a scheme to blow up the subway station at Herald Square in Midtown. His lawyers argued that their client had been set up by a police informant who showed him pictures of Iraq abuse to get him involved in an attack against civilians.

The bank in New York, located at 33 Liberty St., is one of 12 branches around the country that, along with the Board of Governors in Washington, make up the Federal Reserve System that serves as the central bank of the United States. It sets interest rates.

Dozens of governments and central banks store a portion of their gold reserves in high-security vaults deep beneath the building. In recent years, it held 216 million troy ounces of gold, or more than a fifth of all global monetary gold reserves, making it a bigger bullion depository than Fort Knox.

As a result, the Federal Reserve is one of the most fortified buildings in the city, smack in the middle of a massive security effort headed by the New York Police Department, where a network of thousands of private and police cameras watch for suspicious activity.

Obama will be in New York City on Thursday night. He will appear with Republican challenger Mitt Romney at the Alfred E. Smith Memorial Foundation Dinner, an annual political event.

Source: http://news.yahoo.com/ap-source-obama-considered-potential-target-125217136--finance.html

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