Haulage supremo, who built up the Eddie Stobart empire, has died in hospital after suffering from heart problems Haulage magnate Edward Stobart, who ran the Eddie Stobart lorry empire for more than three decades, has died at the age of 56. Stobart was managing director of Eddie Stobart Ltd, a business started by his father Eddie in the 1950s. Eddie Stobart is now in his 80s. He died on Thursday morning at University hospital, Coventry, after suffering from heart problems. Stobart is credited with having built up the brand. He first became involved in the company towards the end of the 1960s, and oversaw its growth from a regional supplier in Cumbria to a giant of the haulage industry, with a cult following. From beginnings in agriculture and then as a road haulage company, the company has expanded into rail and air transport, as well as logistics management and warehousing. But haulage operations continue, with the distinctive trucks operating throughout Europe. The individually named trucks attracted an “Eddie spotting” fanbase, which subsequently led to an official fan club and a merchandising operation selling Stobart-branded goods. The fan club has more than 25,000 members. In 2004, Stobart sold the company to his brother William and business partner Andrew Tinkler. The Stobart Group said: “It is with great sadness and regret that Stobart Group shares the news that Edward Stobart has passed away. Our thoughts are with Edward’s wife Mandy, his children and family at this difficult time.” Eddie Stobart Automotive industry Transport Camilla Turner guardian.co.uk
Continue reading …• Two new universal banks to be created • Cost of Irish bank bailout now €70bn Ireland’s embattled banks need to be bolstered by an extra €24bn (£21bn) – some €13bn of which needs to be used to prop up the troubled Allied Irish Banks (AIB). It takes the total bill for repairing the hole in the banking sector caused by the bursting of the Irish property bubble to €70bn. All the Irish banks are now likely to be state-owned. Two new universal banks are expected to be created from existing institutions – Bank of Ireland will remain while AIB and building society EBS are to be merged. “We will also ensure that they are fully recapitalised so that the world looks at these core banks with confidence and they in turn help instil confidence in our economy,” said Michael Noonan, minister for finance. The extra funds are within the funding envelope available for this purpose in the EU/IMF programme of support announced last year. Ireland’s central bank governor, Patrick Honohan, said it was “one of the costliest banking crises in history”. He said that by forcing banks to hold even more capital, he hoped that confidence would be restored to the sector, which is reliant on the European Central Bank for day-to-day funding. He said the banks needed to be able to have enough capital to meet even the markets’ most “gloomy prognostications”. While AIB will need €13.3bn, Bank of Ireland will need €5.2bn, EBS building society €1.5bn and Irish Life and Permanent some €4bn. Ireland had previously announced a figure of €46bn for the cost of bailing out its banks. Noonan blamed the cause of the crisis on the decision made in September 2008 by the former Fianna Fáil government to guarantee the banking sector and particularly Anglo Irish Bank during the international banking crisis. Anglo and Irish Nationwide were not part of the latest stress tests and there is no “immediate need” for extra capital there. “The country has been left with an appalling legacy: a legacy of debt, of unemployment, of emigration, of falling living standards and of low morale,” Noonan said. He added that overseas banks operating in Ireland, including Ulster Bank operation of Royal Bank of Scotland, “will help maintain the competitive fabric of the market” as Ireland’s banks were restructured. He described the revamped Bank of Ireland as “pillar one” of two “pillar banks”. It will shed €30bn of assets but retain its link with the Post Office in the UK. The “pillar two” bank – the combined AIB and EBS – will deleverage by €23bn by 2013. Ireland bailout European debt crisis Ireland European banks Europe Jill Treanor guardian.co.uk
Continue reading …Click here to view this media This complete video, once on YouTube and then on the Talking Points Memo website, has been yanked from both, simply because of the heat a rookie republican congressman (and former reality tv star) got for daring to mention he’s having trouble getting by on “only” $174,000, partly due to higher health care costs because of worse federal coverage than he was used to from Wisconsin as a District Attorney. Evan McMorris-Santoro at TPM details the farce controversy. GOPers Demand Sean Duffy Salary Tape Be Pulled From The Internet First the Republican Party in Polk County, Wisconsin, pulled the tape of Rep. Sean Duffy (R-WI) fretting about making ends meet on his $174,000 a year salary from its own website. Now they want it gone from the whole Internet. For a couple hours, the local county GOP was successful. But we’ve put an excerpt of the video back up. A day after TPM posted the video we obtained of Duffy talking about his salary at a Polk County town hall meeting earlier this year, the Polk County GOP contacted the video provider we used to host the video, Blip.tv, and demanded the video be taken down. The tape caused a stir for Duffy, a first-term conservative best known for his past as a reality TV show star on MTV’s The Real World. Democrats flagged the comments about his taxpayer-funded salary (which is nearly three times the median income in Wisconsin) and criticisms began to flow Duffy’s way. In the clip, Duffy is asked whether he’d support cutting his own salary. Duffy says he would, but only as part of a plan where all public employees’ salaries would be cut. He then said that the $174,000 in salary (not including benefits) he receives is a squeeze for his family of seven to live on: I can guarantee you, or most of you, I guarantee that I have more debt than all of you. With 6 kids, I still pay off my student loans. I still pay my mortgage. I drive a used minivan. If you think I’m living high on the hog, I’ve got one paycheck. So I struggle to meet my bills right now. Would it be easier for me if I get more paychecks? Maybe, but at this point I’m not living high on the hog. No doubt Crooks and Liars will receive a similarly sternly worded cease-and-desist letter, and the clip will be pulled from here also. But for now, here is the clip the Wisconsin GOP are so scared of being seen. (Can this story get any more pathetic?)
Continue reading …That you can’t libel the dead under English law means an apology is simply the cost of doing business for tabloid editors It is an interesting quirk of the English legal system that you can’t libel the dead. Very handy if you’re a tabloid news editor, at say, the Sun, and you publish an article about 23-year-old Julian Brooker from Brighton becoming a “human fireball” after touching a railway line while crawling around pretending to be Gollum from Lord of the Rings. The shop assistant was drunk, the red top behemoth informed its readers in 2005, because it was 23 October and Julian was obsessed with the number 23. A great tabloid exclusive. Were an iota of it true, that is. In the last 24 hours the Sun’s subsequent apology to the late Julian (“His parents have asked us to make clear he was not turned into a fireball, was not obsessed with the number 23 and didn’t go drinking on that date every month. We apologise for the distress this has caused Julian’s family and friends”) has resurfaced across the Twittersphere to howls of derision. Some unacquainted with the idiosyncrasies of Britain’s newspaper industry have questioned whether the whole thing is in fact a hoax. Sadly, it’s not. Far from being an exception, such cases stray dangerously close to being a rule. I make that claim with authority because during the two years I worked at the Daily Star I wrote similar, arguably worse, yarns. When Boyzone star Stephen Gately died in October 2009, I was dispatched to Mallorca to investigate. Beneath my byline in the days that followed were lurid revelations of heavy drinking, drugs he may have taken, and gay orgies he may have been part of. We tabloid reporters knew little, but under pressure to deliver much, the hotel bar soon swirled with speculation. Thoughts morphed into theories, theories shifted into fact. After all, you can’t libel the dead. The same month Kevin McGee, former husband of Little Britain star Matt Lucas, committed suicide. At the Daily Star I picked up the phone to a reader who claimed he knew the couple and the story behind the tragedy. “How much is that worth?” He asked. I told him we needed to meet first. He replied that he was out of town. “Sod it, you can’t libel the dead,” someone proffered. That afternoon I wrote the story: “LUCAS EX BLEW £2 MILLION ON DRUGS AND BOOZE.” The tabloid news cycle, unrelenting, waits for no man. It also doesn’t like whistleblowers, as I found out after I wrote a public resignation letter earlier this month. Tabloid editors often argue that the Press Complaints Commission is there to put things right when they get them wrong (except at Express Newspapers, where they have withdrawn their subscription to the PCC ). This is a disingenuous argument. They know the horse has bolted, and strapped to its back is a big bag of cash from readers who thought they were paying for thrusting journalism, for the inside scoop. Privately, they know human tragedy is a raw material ready to be forged into facile tabloid narratives, while an apology is just a cost of doing business, a gesture to keep the news wheel greased. But the association of Gollum will always taint Julian Brooker’s memory, and the cliche of a drugs- and booze-fuelled suicide always devalue that of Kevin McGee. Tabloids may not be able to libel the dead, but they can certainly start having more respect for them. Newspapers Libel reform Newspapers & magazines Richard Desmond Daily Star Northern & Shell National newspapers Stephen Gately Richard Peppiatt guardian.co.uk
Continue reading …The Afghan activist has become a celebrated critic of US policy, but her status abroad has cost her legitimacy in her homeland Malalai Joya’s article about the US kill team in Afghanistan expressed the disgust of many if not all Afghans , but her categorical rejection of the US intervention in Afghanistan is unfair. After all, without US intervention, Joya would not have been able to own a passport, let alone travel abroad. Equally, without the international community’s interference, there would not have been the 2003 Loya Jerga where she first gained international fame. Joya’s anti-US military rhetoric resonates with the leftist circles of the west who are her chief audience, and Joya’s celebrity status reached a climax recently when she appeared alongside Noam Chomsky in Boston . Back home in Afghanistan, though, she has become irrelevant. But to understand Joya’s contradictory views, we need to look at how her career began and developed. Let’s go back to the constitutional Loya Jerga of 2003 when Joya first became famous. At the time, she was an independent voice and had the audacity to make a relevant, but politically explosive comment. She said that the inclusion of war criminals threatened to undermine the assembly’s legitimacy with Afghans risking to miss out of a historical chance for justice. Morally, she was absolutely right; but the truth was that, after two decades of violence, it was inevitable that the leaders that had emerged owed their power to war. The international community had to work with what was there – and what was there was war leaders with dubious human rights records. To exclude them from the assembly was unreasonable because it would have driven them to start a new war front. Including them in the assembly meant that the Taliban remained the sole insurgents while the former mujahedin stopped fighting and began a new government. It was a morally flawed but pragmatic solution. Joya was driven by a burning desire for justice – pragmatism has never been her strength. Joya’s outspoken comment took the assembly by surprise. It was up to the assembly leader, Sebghatullah Mojaddedi, to diffuse the situation because he was older and more experienced. But Mojaddedi took offence and ordered Joya to leave the assembly. He then changed his mind and struck a gentler note, “Come back, child, you owe us an apology.” But it was too late: the old man had lost the young woman. And with that, Joya lost a chance to fully develop her potential and work on the kind of constructive and reconciliatory politics that Afghanistan needed. Since then, Joya’s career as MP has been marked by repeats of that crucial early scene of her, a young woman, confronting old jihadi men. The location shifted from the Loya Jerga tent to parliament, but Joya and her jihadi nemesis remained stuck in an endless cycle of accusation and counter-accusation. The Afghan audiences found the confrontations first interesting, then amusing and finally lost interest in them altogether. By then, Joya was ousted from parliament, but her career abroad was beginning to flourish. Her book tour of the US is part of this development. The tragedy of Joya is that she was spotted by the international media and a clandestine radical leftist Afghan organisation at a time when Afghan democracy was in its infancy. At the time, Afghan human rights groups had not yet developed fully to give Joya the kind of support she needed. Isolated and vulnerable, she became an easy prey and was picked up by a group whose politics were steeped in the anti-imperialist revolutionary world of the 1960s and 70s ideological battles. Joya has served as a respectable front for a group that otherwise has little backing in Afghanistan. Joya’s recurrent reference to “warlords in the pay of the US” are all about the group’s bitterness that Washington allied itself with the group’s Islamists rivals in the 1980s, enabling them to defeat the left. The alliance was abandoned between 1992 and 2001, but resumed fully with the 2001 intervention. Little wonder, then, that the group felt doubly betrayed by Washington. But Joya’s sudden fame in the west offered the group an unexpected chance to turn the tables and use Joya’s popularity abroad to give her legitimacy to attack the group’s jihadi nemesis in parliament. Joya’s confrontations often came out of the blue. During a session about trade, Joya raised her hand but instead of asking questions about trade, she questioned the mujahedin’s legitimacy . The speaker cautioned her that her comments were irrelevant because the session was about trade, but the damage was done and the session disrupted. Joya’s disruptions of parliament eerily resembled similar incidents of leftwing versus rightwing fights that interrupted parliament in the 1960s. The resemblance is natural because the parties involved were the same old leftist comrades versus rightwing Islamist brothers. Joya has become simply a new player in an old political dynamic. This also explained the intensity of the jihadis’ reaction to Joya. After all, criticising warlords was nothing unusual by 2007. But Joya was re-opening old wounds. Her repeated reference to the internal wars of the 1990s was the group’s message that the jihadi victory was not complete since they had failed to cement it through establishing a solid state. Needless to say, such nuances have been lost on the western media who presented Joya’s provocations as a woman’s struggle for rights and democracy. The thought that her disruption of parliament was evidence of an anti-democratic attitude on her part did not occur to them. After all, in the simplistic world of western politics, a young woman fighting bearded old men simply cannot be wrong. Afghanistan Noam Chomsky United States Gender Islam US foreign policy US military Middle East Nushin Arbabzadah guardian.co.uk
Continue reading …Youth hiding in south London shop when attackers opened fire, critically wounding a five-year-old girl, comes forward One of the youths thought to have been the target of the gang who shot five-year-old Thursha Kamaleswaran has contacted the police. The news came as sources revealed that up to 50 gangs operate in the area where Thursha and another bystander became innocent victims of a vicious turf war. Detectives investigating the shooting at the Stockwell Food and Wine Shop in south London on Tuesday night have called in territorial support group officers to reassure locals fearing revenge attacks. Chief Superintendent Nick Ephgrave called for people in the area to come forward if they have information about the “truly shocking event”. A shopkeeper, believed to be Roshan Selvakumar, 35, was also hit, suffering a head wound during the attack. They were caught up in the violence when two youths attempted to hide in the store as they were being chased by three other youths on bicycles. One youth stopped at the door and opened fire indiscriminately. The three attackers – who a witness said were aged between 14 and 17 – fled from the Stockwell Road shop, along Broomgrove Road and into the Stockwell Park estate. The victims, who police said were Sri Lankan, were rushed to hospital in south London. They are both in a critical but stable condition. Thursha was visiting her aunt and uncle, when the attackers struck. Crimestoppers is offering a £50,000 reward for information leading to the attackers’ capture. Police said the girl’s 12-year-old brother and three-year-old sister were also in the shop at the time of the shooting, but were unhurt. Thursha’s parents held a bedside vigil as she fought to recover from her injuries, a close family friend said. Velluppillai Navaratnam, 49, from Croydon, south London, said friends and family members were praying for her recovery. “I would like to say that it has been a very difficult time for family and friends,” he told reporters at the scene of the shooting. “The parents of Thursha are at the hospital now. We are all praying for her to get well soon.” Officers are still reviewing CCTV footage in a bid to track down the culprits, Detective Chief Inspector Tony Boughton told reporters at the scene in Stockwell. “We are beginning to get a clearer picture of what happened,” he said. “One of the youths who first ran into the shop has come forward to police and is assisting us with our inquiries. We are still trying to trace the other individual and appeal to him to come forward.” Gun crime Crime London Gangs Young people Communities guardian.co.uk
Continue reading …Click here to view this media As Dave pointed out earlier this week, Hannity has gone full-tilt birther alongside Donald Trump. In Wednesday’s show, he uses the controversy as a way to make Tim Pawlenty look reasonable while continuing to hammer on it.
Continue reading …US tech firm claims search engine is restricting competition to the ‘detriment of European consumers’ Microsoft has upped the ante in its bitter rivalry with Google by filing its first formal complaint to regulators, claiming the search engine giant is restricting competition. The US technology firm on Thursday filed the complaint to the European commission, which announced a formal investigation into Google in November , adding significant weight to the chorus of opposition which has seen complaints to Brussels from mainly small internet sites such as price comparison firm Foundem and Microsoft-owned firm Ciao. Microsoft acknowledged the irony of filing an antitrust complaint – the company has itself paid billions in fines and levies in a string of protracted anti-competitive cases over the years. “Having spent more than a decade wearing the shoe on the other foot with the European commission, the filing of a formal antitrust complaint is not something we take lightly,” said Brad Smith, Microsoft’s general counsel, in a blog posting . In a lengthy and detailed post Smith said that Microsoft had been prompted to act after witnessing a “broadening pattern of conduct aimed at stopping anyone else from creating a competitive alternative”. Smith added that as “troubling” as the competitive landscape is in the US market “it is worse in Europe”. with Google controlling up to 95% of the search market. The company goes on to outline a number of examples of a “pattern of actions” that it claims Google has taken to “entrench its dominance in the markets for online search and search advertising to the detriment of European consumers”. Microsoft alleges that these anti-competitive practices include stopping its search engine, called Bing, from indexing content on Google-owned YouTube; blocking Microsoft Windows smartphones from “operating properly” with YouTube; blocking access to content owned by book publishers; and limiting the flow of ad campaign information back to advertisers, making it more expensive to run ads with rivals. “Over the past year, a growing number of advertisers, publishers, and consumers have expressed to us their concerns about the search market in Europe,” said Smith. “They’ve urged us to share our knowledge of the search market with competition officials.” Google said it would be “happy to explain” how its business works. “We’re not surprised that Microsoft has done this, since one of their subsidiaries was one of the original complainants,” said a spokesman. “For our part, we continue to discuss the case with the European commission.” A spokeswoman for the European commission said: “The commission takes note of the complaint and, as is the procedure, will inform Google to allow it to submit its own views. No further comment.” Microsoft Computing Google Search engines Internet European commission European Union Digital media YouTube Mark Sweney guardian.co.uk
Continue reading …After shock resignation from Berkshire Hathaway empire, David Sokol says he did nothing wrong in buying stake in Lubrizol oil company David Sokol, once seen as the favoured successor to Warren Buffett, has rejected claims of insider trading and defended his purchase of shares in a company shortly before it was bought by the billionaire. Speaking for the first time since his shock resignation from the Berkshire Hathaway empire was announced on Wednesday night, Sokol insisted he had behaved legally and honourably. Sokol told CNBC he had no influence over which companies Buffett invested in and that his decision to quit Berkshire was unrelated to his stake in Lubrizol. “I don’t believe I did anything wrong,” Sokol told CNBC. “I made an investment that I believed in. If I didn’t believe in the company, I wouldn’t have invested in it.” Sokol told CNBC he had been contacted by bankers from Citigroup on 13 December last year. They suggested a number of potential acquisition targets including Lubrizol. Sokol concluded that Lubrizol was the most attractive and asked the bankers to set up a meeting between himself and chief executive James Hambrick. Sokol then attempted to buy 50,000 shares in the company, but only managed to acquire 2,300 which he sold shortly afterwards. In early January, he bought another 96,000 shares at about $104 (£65) each. According to Buffett , Sokol suggested buying Lubrizol on 14 or 15 January. The $9.7bn deal was announced on 14 March after Berkshire’s $135-per-share offer was accepted, giving Sokol a paper profit of almost $3m. Sokol acknowledged the Lubrizol stake did raise questions. “I can understand the appearance issue and that’s why we decided to make it public.” he said. The stake would eventually have been revealed under regulatory filings. During the TV interview, which was eagerly watched on Wall Street and in the City, Sokol explained he had no influence over whether Buffett’s Berkshire Hathaway would decide to bid for a company. “I don’t think there was any impropriety,” he insisted. “I didn’t have any inside information.” “The reality is that I didn’t think there was a 5% chance of Warren being interested in the company.” Sokol, who chaired several Berkshire subsidiaries, including the corporate airline, NetJets, said he had not been contacted by the Securities Exchange Commission over his share dealings. He also told CNBC that Charlie Munger, another of Buffett’s top lieutenants, had owned 3% of Chinese carmaker BYD before asking Sokol to examine teaming up with it. Berkshire bought 10% of BYD in September 2008 . Questioned about the timing of the move, Sokol said the team at NetJets could run the airline without him and that, by departing now, it would help the usual discussions about Buffett’s succession at Berkshire’s annual meeting at the end of April. Looking ahead, Sokol said he was keen to set up and run his own fund. He was also ebullient in his praise for the company he is leaving behind. “No disrespect to Warren or Berkshire – frankly, I love both of them,” he said. Sokol was also sufficiently relaxed to conclude the interview by wishing his granddaughter Lucy a happy birthday. Warren Buffett Investing Financial sector US economy Economics United States Graeme Wearden guardian.co.uk
Continue reading …