Beginning on March 20, 2012, Chairman Ben S. Bernanke will deliver a four-part lecture series about the Federal Reserve and the financial crisis that emerged in 2007.
The series begins with a lecture on the origins and missions of central banks, followed by a lecture that will discuss the role and actions of the Federal Reserve in the period after World War II. In the final two lectures, the Chairman will review some of the causes of, and policy responses to, the recent financial crisis, focusing specifically on the actions of the Federal Reserve.
The lectures are being offered as part of an undergraduate course at the George Washington University School of Business through March 29.
Live video of each lecture will be available to the public at http://www.ustream.tv/federalreserve. Transcripts and video recordings will be made available following each lecture.
For more information on the lecture series, go to http://www.federalreserve.gov/newsevents/lectures/about.htm.
Wednesday, February 29, 2012
Why you can't get a decent job...a reporter's opinion
In Barack Obama's 2006 book The Audacity of Hope, in the chapter entitled "Opportunity," Google's workforce is mentioned. "As far as I could tell, not one was black or Latino," Obama wrote.
When he confronted one of Google's executives with this observation, he was told that in order to stay competitive, only top graduates from "the top math, engineering, and computer science programs in the country" were being hired.
The U.S. Department of Labor reports that the number of unemployed persons in the U.S. was 12.8 million in January 2012. Companies, however, are still looking for employees with specific skills. Some of these skills are not being absorbed by black and Latino students, therefore, many people with these skills are brought in from Asia and Eastern Europe with proper immigration credentials and are hired.
Although most companies pride themselves on being good at hiring a diverse workforce, many remain mostly lopsided when it comes to racial diversity and top heavy on technology skills. Many companies are looking for people who can hit the ground running in sales and engineering positions and possess strong cognitive abilities, meaningful work experiences, and have made major contributions to society.
Some companies seem to be looking for super men and women! There are not too many of these godlike folks around, and the regular Joe and Joan who have had mediocre careers without the advantages of publishing a book, bringing their company millions in revenue, or simply known for showing up at work everyday and not causing trouble may have a hard time in today's job market.
According to CNN Money, ten top companies are looking to hire some 56,000 people. These companies are probably looking for employees with similar skills possessed by their company's leaders. Let's take a closer look at major companies to see the training their leaders received.
Adobe Systems Incorporated
Shantanu Naraven, President and Chief Executive Officer - B.S. in electronics engineering from Osmania University in India, a master’s degree in computer science from Bowling Green State University and a master’s degree in business administration from the Haas School of Business
Chesapeake Energy
Aubrey McClendon, Chairman of the Board & CEO - Duke University graduate
Edward Jones
James Weddle, Managing partner - graduate of DePauw University and earning an MBA from Washington University, St. Louis
Larry Page, CEO - B.S. in engineering from the University of Michigan, Ann Arbor and a master’s degree in computer science from Stanford University
Sergey Brin, Co-Founder - B.S. with honors in mathematics and computer science from the University of Maryland at College Park. Brin is currently on leave from the Ph.D. program in computer science at Stanford University.
Intel
Paul S. Otellini, President and CEO - bachelor's degree in economics from the University of San Francisco, MBA from the University of California, Berkeley
PricewaterhouseCoopers
Dennis Nally, Global Chairman - graduate of Western Michigan University, Mr. Nally also completed the Columbia University and Penn State University Executive Programs
Qualcomm
Irwin Mark Jacobs, Founder - B.E.E. degree from Cornell University and his M.S. and Sc.D. degrees from the Massachusetts Institute of Technology
The Boston Consulting Group
Hans-Paul Bürkner, President and CEO - received diploma from University of Bochum, M.A. from Yale University, and D.Phil from University of Oxford where he was a Rhodes Scholar
Wegmans Food Markets
Danny Wegman, CEO - Harvard University graduate with a bachelor's degree in economics
Whole Foods Market
John B. Elstrott, Chairman of the Board - undergraduate degree from Louisiana State University and a doctorate degree from The University of Colorado
©2012 Tomi Johnson. All rights reserved.
Tuesday, February 28, 2012
BREAKING NEWS: Ohio prosecutor states accused school shooter is "someone who is not well..."
Chardon, Ohio prosecutor David Joyce said in a press conference following the first hearing for T.J. Lane, the accused killer of three students in a school cafeteria, that Lane was "someone who is not well." This opens up the defense for an insanity plea. Joyce also said that Lane told police investigators that he shot five students at random and did not know them.
Under Ohio law R.C. 2901.01(A)(14), "A person is 'not guilty by reason of insanity' relative to a charge of an offense only if the person proves, in the manner specified in section 2901.05 of the Revised Code (i.e. by a preponderance of the evidence), that at the time of the commission of the offense, the person did not know, as a result of a severe mental disease or defect, the wrongfulness of the person's acts."
Lane remains in protective detention, ordered by Juvenile Court Judge Timothy Grendell. More news is unfolding as the investigation moves forward.
Under Ohio law R.C. 2901.01(A)(14), "A person is 'not guilty by reason of insanity' relative to a charge of an offense only if the person proves, in the manner specified in section 2901.05 of the Revised Code (i.e. by a preponderance of the evidence), that at the time of the commission of the offense, the person did not know, as a result of a severe mental disease or defect, the wrongfulness of the person's acts."
Lane remains in protective detention, ordered by Juvenile Court Judge Timothy Grendell. More news is unfolding as the investigation moves forward.
Monday, February 27, 2012
Africa Heritage Center (AHC) opens on SPSU campus
A delegation of United Nations dignitaries from Africa visited the campus of Southern Polytechnic State University (SPSU) in Marietta, Ga. today in celebration of Black History Month and the launch of an Africa Heritage Center (AHC).
The delegation was led by Ambassador Cheick Sidi Diarra, under-secretary general, special advisor on Africa and high representative for least-developed countries, landlocked developing countries and small island developing states. Accompanying him was his special assistant, Kavazeua Katjomuise, and his personal assistant, Mary Nyumu.
Some classes were cancelled, with professors giving students assignments to report on the event.
The dignitaries met with university and African Heritage Foundation (AHF) officials who recently formed an alliance that seeks to build bridges between the 55 nations of the African Union and the United States. More than 26 African nations are represented in the SPSU student body. Tunde Adetunji, a cultural ambassador from Nigeria, founded the AHF and serves as its president and CEO.
The delegation also visited the "Celebrate Africa: Journey Through the Ages Exhibition" currently on display in the Architecture Gallery as part of Black History Month. The exhibition has been commissioned for a world tour. "Celebrate Africa" made its debut during the 1996 Olympics and traveled extensively afterward to various institutions throughout the U.S., Brazil and Canada detailing the splendor and significance of African culture.
After touring the campus and planting trees to represent the U.N., the ambassador gave a presentation on economic opportunities in Africa. Notes on the event will be posted when completed.
Photo courtesy of SPSU newsroom photo gallery.
Wednesday, February 22, 2012
Spotlight on nonprofit: SEWA International USA
Don't judge an entertainer until you've danced in her/his barefeet! That is what I took away from the artistic performances and informational presentations provided by SEWA International USA in THIRKAN 2012 on February 18 at Berkmar High School in Lilburn, Ga.
"We can relate to their daily hardships. We are proud of our culture and strive to help...the orphaned, widowed, mentally ill, distressed youth, and deserving students. "Our duty is to share. We sleep well, but we have a greater task ahead than just keeping ourselves comfortable," Sreenath told the crowd of about 300.
Another notable guest at the event was Dr. Ravi Sarma, an oncologist and practicing doctor. “One’s spirit can be kept alive by giving a little of ourselves to make a lot of someone else’s life,” Dr. Sarma was quoted as saying in a previous interview.
SEWA is billed as the only Hindu, faith-based NGO permitted to operate in Sri Lanka.
The organization lives by the creed, "Love Ever, Hurt Never." The event brought to my mind the idea that the inhabitants of Sri Lanka have a shared history of sacrifice faced by other displaced and suffering peoples around the globe. Despite their suffering, the result is relational caring.
A history lesson focusing on Portuguese and British invasions of Sri Lanka was also given during the 4 1/2 hour event.
The experience gave me a different respect for Indian and Hindu culture and renewed my faith in social justice and nonviolent change espoused by Gandhi and later adopted by the Rev. Dr. Martin Luther King, Jr.
"We do have a lot in common," said Rakesh Pathak, one of the event's organizers.
To learn more about SEWA, go to http://www.sewausa.org or email info@sewausa.org.
Photos courtesy of SEWA International USA.
©2012 Tomi Johnson. All rights reserved.
Wednesday, February 8, 2012
Denzel Washington's new character completes sociopath research
In the new movie thriller Safe House, Academy Award winner Denzel Washington plays a killer with no conscience.
Interviewed this morning on NBC's Today Show, Washington said he researched how to play the role by reading Dr. Martha Stout's book, "The Sociopath Next Door: the ruthless versus the rest of us."
The movie, directed by Daniel Espinosa, will be released in U.S. theaters on February 10 by Universal Pictures and was filmed in Cape Town, South Africa.
To view the movie trailer, go to http://www.youtube.com/watch?v=wNWFAHgOBEs&feature=relmfu
Interviewed this morning on NBC's Today Show, Washington said he researched how to play the role by reading Dr. Martha Stout's book, "The Sociopath Next Door: the ruthless versus the rest of us."
The movie, directed by Daniel Espinosa, will be released in U.S. theaters on February 10 by Universal Pictures and was filmed in Cape Town, South Africa.
To view the movie trailer, go to http://www.youtube.com/watch?v=wNWFAHgOBEs&feature=relmfu
Thursday, February 2, 2012
Romney's republicanomics evident in "poor" speak
Republican presidential candidate Mitt Romney did say what he meant, that he wasn't concerned about the poor because they have a "safety net" with holes he will fix if he becomes leader-in-chief. What the???
I have heard this 'ole Republican philosophy before, that the poor are being taken care of and will continue to be taken care of by the compassionate, well-educated, philanthropic rich folks!
I used to utilize services from a chiropractic clinic that is operated by a chiropractic college in the facilities of one of the largest black churches in metro ATL. Both the doctors running the clinic are white conservatives who supported Herman Cain first, and then switched to Gingrich, probably because he's a fellow Georgian. They were very adamant about their choices and voiced them during clinic hours.
Although 99% of the people served in this clinic are black, 100% of the doctors are white, and approximately 90% of the interns are white. Most of these interns have to complete clinical work to graduate.
Anyway, I've stopped going there because of the tone of the talk I've gotten from one female doctor who has the same Romney lingo: "I'm sick of hearing about the poor," she told me. "Poor folks are in the state they are in from making bad choices." This same doctor frowned and gave the "gagging herself" sign when she saw a black woman wearing a jacket with Obama's image on the back of it. She told me she hates Obama's arrogance, especially the way he walks off Air Force One.
Little does she want to recognize it, but if it weren't for the poor, she would not have a job at the outreach clinic! It is also my belief that the rich often profit from the poor who are scammed because they are not smart enough (did not have quality education) to not be hoodwinked! The rich, who mostly inherit their money, always like to blame the poor for not being successful and failing to pull themselves up by their own bootstraps.
What more do you expect from trickle-down Republicanomics!
©2012 by Tomi Johnson. All rights reserved.
I have heard this 'ole Republican philosophy before, that the poor are being taken care of and will continue to be taken care of by the compassionate, well-educated, philanthropic rich folks!
I used to utilize services from a chiropractic clinic that is operated by a chiropractic college in the facilities of one of the largest black churches in metro ATL. Both the doctors running the clinic are white conservatives who supported Herman Cain first, and then switched to Gingrich, probably because he's a fellow Georgian. They were very adamant about their choices and voiced them during clinic hours.
Although 99% of the people served in this clinic are black, 100% of the doctors are white, and approximately 90% of the interns are white. Most of these interns have to complete clinical work to graduate.
Anyway, I've stopped going there because of the tone of the talk I've gotten from one female doctor who has the same Romney lingo: "I'm sick of hearing about the poor," she told me. "Poor folks are in the state they are in from making bad choices." This same doctor frowned and gave the "gagging herself" sign when she saw a black woman wearing a jacket with Obama's image on the back of it. She told me she hates Obama's arrogance, especially the way he walks off Air Force One.
Little does she want to recognize it, but if it weren't for the poor, she would not have a job at the outreach clinic! It is also my belief that the rich often profit from the poor who are scammed because they are not smart enough (did not have quality education) to not be hoodwinked! The rich, who mostly inherit their money, always like to blame the poor for not being successful and failing to pull themselves up by their own bootstraps.
What more do you expect from trickle-down Republicanomics!
©2012 by Tomi Johnson. All rights reserved.
Wednesday, February 1, 2012
What do Democrats have to gain from Republican bickering?
Please post or email your comments.
Photo: ©2012 by Tomi Johnson. All rights reserved.
Tuesday, January 31, 2012
Occupy Oakland set for another police confrontation
While nearly 400 protesters were arrested on Sunday, the deadline to disband Occupy Oakland demonstrations has passed. Many believe an all out battle between police and protesters is about to ensue.
What do the protesters want? Read their declaration below which was passed on 10/31/11 and is taken directly from their website :
"Occupy Oakland, in solidarity with the Occupy movement and with the local community, has established the principle of claiming for open use the open space that has been kept from us. We are committed to helping this practice continue and grow. Here in Oakland, thousands of buildings owned by city, banks, and corporations stand idle and abandoned. At the same time social services such as child and healthcare, education, libraries and community spaces are being defunded and eliminated.
"Occupy Oakland supports the efforts of people in all Oakland neighborhoods to reclaim abandoned properties for use to meet their own immediate needs. Such spaces are already being occupied and squatted unofficially by the dispossessed, the marginalized, by many of the very people who have joined together here in Oscar Grant Plaza to make this a powerful and diverse movement.
"We commit to providing political and material support to neighborhood reclamations, and supporting them in the face of eviction threats or police harassment. In solidarity with the global occupation movement, we encourage the transformation of abandoned spaces into resource centers toward meeting urgent community needs that the current economic system cannot and will not provide."
What do the protesters want? Read their declaration below which was passed on 10/31/11 and is taken directly from their website :
"Occupy Oakland, in solidarity with the Occupy movement and with the local community, has established the principle of claiming for open use the open space that has been kept from us. We are committed to helping this practice continue and grow. Here in Oakland, thousands of buildings owned by city, banks, and corporations stand idle and abandoned. At the same time social services such as child and healthcare, education, libraries and community spaces are being defunded and eliminated.
"Occupy Oakland supports the efforts of people in all Oakland neighborhoods to reclaim abandoned properties for use to meet their own immediate needs. Such spaces are already being occupied and squatted unofficially by the dispossessed, the marginalized, by many of the very people who have joined together here in Oscar Grant Plaza to make this a powerful and diverse movement.
"We commit to providing political and material support to neighborhood reclamations, and supporting them in the face of eviction threats or police harassment. In solidarity with the global occupation movement, we encourage the transformation of abandoned spaces into resource centers toward meeting urgent community needs that the current economic system cannot and will not provide."
Monday, January 30, 2012
JOBS top priority at World Economic Forum
Ending its conference this weekend in Davos-Klosters, Switzerland, business leaders at the World Economic Forum concluded that the international community should focus on promoting growth and creating jobs, particularly for youth. The annual meeting's theme was The Great Transformation: Shaping New Models.
“Jobs should be our number one priority,” declared Annual Meeting Co-Chair Vikram Pandit, Chief Executive Officer of Citi, in a session on the global agenda for 2012. Added fellow Co-Chair Paul Polman, Chief Executive Officer of Unilever: “It is unacceptable that 200 million people cannot enter the workplace.”
To drive the new growth needed for full recovery from the recent global recession, governments have to provide the right environment, policies and leadership. “We believe that government should set up industry and other sectors for success,” said Sheryl Sandberg, Chief Operating Officer of Facebook, who also served as a Meeting Co-Chair.
For Alejandro Ramirez, Chief Executive Officer of Cinepolis, the chief concern must be the widening wealth gap. “We need to reduce the income inequality we are seeing everywhere in the world that is increasing the backlash.”
Nobel Peace Prize Laureate Muhammad Yunus, Chairman of the Yunus Centre, said that what the world needs today is visionary leadership. “We need to spend a lot more time ‘visioning’. Unless we have a vision, we are lost.”
World leaders weigh in
German Chancellor Angela Merkel called for “more Europe”, with structural reforms, belt-tightening and greater labour market mobility necessary to underpin revival. Mario Draghi, President of the European Central Bank, cautioned that Europe’s banking sector is entering a critical phase, with €230 billion of bonds due in the near future, even though assertive action by the ECB and Europe’s banks had so far been successful in averting another credit crunch.
Japanese Prime Minister Yoshihiko Noda nevertheless offered his support, saying that: “Japan stands ready to support the Eurozone as much as possible.” Noda also mentioned that Japan is working with South Korea and India to try to prevent the sovereign debt contagion spreading to Asia.
Christine Lagarde, Managing Director of the International Monetary Fund (IMF), said: “No country is immune and everybody has an interest in making sure that this crisis is resolved adequately.” Timothy Geithner, US Secretary of the Treasury, agreed with the consensus forecast that the United States economy would grow between 2-3% this year, but warned that it could be set back by a prolonged crisis in the Eurozone.
In another extraordinary act of philanthropy, the Bill & Melinda Gates Foundation announced an extra US$ 750 million to the Global Fund to Fight AIDS, Tuberculosis and Malaria. “These are tough economic times, but that is no excuse for cutting aid to the world’s poorest,” said Bill Gates, Co-Chair of the Gates Foundation. In a session on food security, Gates argued that he is “optimistic” about the daunting challenge of doubling food production by 2050 to feed a population forecast to hit 9 billion.
The World Economic Forum also launched a new initiative during the Annual Meeting to improve global resilience to major cyberrisks. “Partnering for Cyber Resilience” is a set of shared principles, signed and endorsed by chief executives of companies who recognize the interdependence of all organizations in combating cyberrisks and their role in contributing to a safer digital environment.
Other major issues addressed at the conference included Tunisia's new constitution, more trade instead of aid for Haiti, democratization of Myanmar, progress towards a common market in Africa, ensuring clean/sustainable energy supplies, and creation of a national women’s development fund to protect human rights and deliver improvements in education and healthcare for women.
“Jobs should be our number one priority,” declared Annual Meeting Co-Chair Vikram Pandit, Chief Executive Officer of Citi, in a session on the global agenda for 2012. Added fellow Co-Chair Paul Polman, Chief Executive Officer of Unilever: “It is unacceptable that 200 million people cannot enter the workplace.”
To drive the new growth needed for full recovery from the recent global recession, governments have to provide the right environment, policies and leadership. “We believe that government should set up industry and other sectors for success,” said Sheryl Sandberg, Chief Operating Officer of Facebook, who also served as a Meeting Co-Chair.
For Alejandro Ramirez, Chief Executive Officer of Cinepolis, the chief concern must be the widening wealth gap. “We need to reduce the income inequality we are seeing everywhere in the world that is increasing the backlash.”
Nobel Peace Prize Laureate Muhammad Yunus, Chairman of the Yunus Centre, said that what the world needs today is visionary leadership. “We need to spend a lot more time ‘visioning’. Unless we have a vision, we are lost.”
World leaders weigh in
German Chancellor Angela Merkel called for “more Europe”, with structural reforms, belt-tightening and greater labour market mobility necessary to underpin revival. Mario Draghi, President of the European Central Bank, cautioned that Europe’s banking sector is entering a critical phase, with €230 billion of bonds due in the near future, even though assertive action by the ECB and Europe’s banks had so far been successful in averting another credit crunch.
Japanese Prime Minister Yoshihiko Noda nevertheless offered his support, saying that: “Japan stands ready to support the Eurozone as much as possible.” Noda also mentioned that Japan is working with South Korea and India to try to prevent the sovereign debt contagion spreading to Asia.
Christine Lagarde, Managing Director of the International Monetary Fund (IMF), said: “No country is immune and everybody has an interest in making sure that this crisis is resolved adequately.” Timothy Geithner, US Secretary of the Treasury, agreed with the consensus forecast that the United States economy would grow between 2-3% this year, but warned that it could be set back by a prolonged crisis in the Eurozone.
In another extraordinary act of philanthropy, the Bill & Melinda Gates Foundation announced an extra US$ 750 million to the Global Fund to Fight AIDS, Tuberculosis and Malaria. “These are tough economic times, but that is no excuse for cutting aid to the world’s poorest,” said Bill Gates, Co-Chair of the Gates Foundation. In a session on food security, Gates argued that he is “optimistic” about the daunting challenge of doubling food production by 2050 to feed a population forecast to hit 9 billion.
The World Economic Forum also launched a new initiative during the Annual Meeting to improve global resilience to major cyberrisks. “Partnering for Cyber Resilience” is a set of shared principles, signed and endorsed by chief executives of companies who recognize the interdependence of all organizations in combating cyberrisks and their role in contributing to a safer digital environment.
Other major issues addressed at the conference included Tunisia's new constitution, more trade instead of aid for Haiti, democratization of Myanmar, progress towards a common market in Africa, ensuring clean/sustainable energy supplies, and creation of a national women’s development fund to protect human rights and deliver improvements in education and healthcare for women.
Friday, January 27, 2012
Forum on Black Population to be hosted by Census Bureau and Urban League
The U.S. Census Bureau will host a forum with the National Urban League on the black population at Black Entertainment Television studios on Wednesday, Feb. 1, from 9 a.m. to noon (EST). This event will highlight statistics from the 2010 Census, providing a portrait of the black population in the U.S. Following the presentation, an expert panel will discuss the statistics and their implications.
Speakers will include Robert Groves, director, U.S. Census Bureau; Marc Morial, chief executive officer and president, National Urban League; Chanelle Hardy, senior vice president/executive director, National Urban League; Nicholas Jones, chief, Racial Statistics Branch, U.S. Census Bureau; Tallese Johnson, Racial Statistics Branch, U.S. Census Bureau; Kristal High, editor, Politic365; Margaret Simms, fellow and director, Low-Income Working Families project, Urban Institute; Roderick Harrison, Howard University professor, Joint Center for Political and Economic Studies; Patricia Coulter, chief executive officer, Urban League of Philadelphia; Tracey Webb, founder, Black Gives Back Blog and Black Benefactors; Odis Johnson Jr., assistant professor, African American Studies, Maryland Population Research Center, University of Maryland; and Julianne Malveaux, president, Bennett College.
Black Entertainment Television Studios/Headquarters is located at 1235 W Street NE, Washington, DC. If you wish to attend, please register no later than the close of business on Monday, Jan. 30. RSVP required to enter premises. Please RSVP to pio@census.gov.
Speakers will include Robert Groves, director, U.S. Census Bureau; Marc Morial, chief executive officer and president, National Urban League; Chanelle Hardy, senior vice president/executive director, National Urban League; Nicholas Jones, chief, Racial Statistics Branch, U.S. Census Bureau; Tallese Johnson, Racial Statistics Branch, U.S. Census Bureau; Kristal High, editor, Politic365; Margaret Simms, fellow and director, Low-Income Working Families project, Urban Institute; Roderick Harrison, Howard University professor, Joint Center for Political and Economic Studies; Patricia Coulter, chief executive officer, Urban League of Philadelphia; Tracey Webb, founder, Black Gives Back Blog and Black Benefactors; Odis Johnson Jr., assistant professor, African American Studies, Maryland Population Research Center, University of Maryland; and Julianne Malveaux, president, Bennett College.
Black Entertainment Television Studios/Headquarters is located at 1235 W Street NE, Washington, DC. If you wish to attend, please register no later than the close of business on Monday, Jan. 30. RSVP required to enter premises. Please RSVP to pio@census.gov.
Federal Reserve states high unemployment rate still a major economic concern
The Federal Reserve released information this week stating that global growth was slowing and that the U.S. unemployment rate remains elevated. Additionally, the Reserve cautioned that growth in business fixed investment has slowed, and the housing sector remains depressed. Inflation has been subdued in recent months, and longer-term inflation expectations have remained stable.
The organization's Federal Open Market Committee consistent with its statutory mandate seeks to foster maximum employment and price stability. The Committee expects economic growth over coming quarters to be modest and consequently anticipates that the unemployment rate will decline only gradually toward levels that the Committee judges to be consistent with its dual mandate. Strains in global financial markets continue to pose significant downside risks to the economic outlook. The Committee also anticipates that over coming quarters, inflation will run at levels at or below those consistent with the Committee's dual mandate.
To support a stronger economic recovery and to help ensure that inflation, over time, is at levels consistent with the dual mandate, the Committee expects to maintain a highly accommodative stance for monetary policy. In particular, the Committee decided today to keep the target range for the federal funds rate at 0 to 1/4 percent and currently anticipates that economic conditions--including low rates of resource utilization and a subdued outlook for inflation over the medium run--are likely to warrant exceptionally low levels for the federal funds rate at least through late 2014.
The Committee also decided to continue its program to extend the average maturity of its holdings of securities as announced in September. The Committee is maintaining its existing policies of reinvesting principal payments from its holdings of agency debt and agency mortgage-backed securities in agency mortgage-backed securities and of rolling over maturing Treasury securities at auction. The Committee will regularly review the size and composition of its securities holdings and is prepared to adjust those holdings as appropriate to promote a stronger economic recovery in a context of price stability.
Voting for the FOMC monetary policy action were: Ben S. Bernanke, Chairman; William C. Dudley, Vice Chairman; Elizabeth A. Duke; Dennis P. Lockhart; Sandra Pianalto; Sarah Bloom Raskin; Daniel K. Tarullo; John C. Williams; and Janet L. Yellen. Voting against the action was Jeffrey M. Lacker, who preferred to omit the description of the time period over which economic conditions are likely to warrant exceptionally low levels of the federal funds rate.
Info taken from Jan. 25th press release.
Wednesday, January 25, 2012
Euphoria from State of the Union speech turns to failed expectations in the light of day
"Go, Barack, you tell 'em," melted into the feeling, "What could I have been thinking last night," as I stood in the Career Fair line the day after the President of the United States claimed that things were getting better, economically speaking.
"Many companies are refraining from making major hiring decisions until after the 2012 Presidential election," said Carl Walker, an employment counselor with the Georgia Department of Labor. "They are waiting to see how the election will impact their businesses, from a regulation and tax viewpoint." His message didn't make being unemployed more bearable.
The Career Fair, billed as a Diversity Hiring Expo, had hundreds of well-dressed, well-educated people waiting in line with high hopes of starting another job. My husband met the organizer who was making copies at Kinko's the night before the fair. "Know anyone looking for a job? Tell them to come to the Fair tomorrow. They will be hiring, no joke," he said. Instead, I was disappointed to find employers were only hiring for entry level positions, looking for military recruits and insurance sales people.
Oh, yeah, colleges and training companies were on the scene in full force, trying to get the already over-educated to sign up for retraining classes.
Boeing was giving out toy airplanes, mints, and ink pins. Home Depot was giving out bags with their name emblazoned on them for you to use at the grocery store. No one was available to talk about the status of recently posted resumes or the availability of management positions. Insurance agents were looking for people to sell "protection" or buy into long term investment accounts. The military was looking for young men and women and trying to find out where the next fair was going to be.
All the applicants were dressed for success, except for one woman who had left the sales tag on the bottom of her shoe where you could see it. She probably left it there in anticipation of returning the pair should she not land a job.
I believe these "fairs" are unfair because they give people hope that they may be blessed with a job based on their resume, experience, and personal appearance. Unfortunately, that doesn't cut it in today's job market.
"Job fairs really don't do anything," my daughter told me when I voiced my disappointment. "Job fairs are a waste of time," my son said. Both are under 30 and employed. And finding work at the employment office is just about the same scenario. I'm worn out from being let down.
And what do I think of Obama's late night exuberance now? One economist has already told me that he thinks Obama lacks courage and timidity, pushes notions of black dysfunctionality in stump speeches, fosters lukewarm jobs plans, is not meeting the needs of Americans in the current jobs crisis, and has a shallow or empty ethical core.
Something has got to give.
I would like to propose that we switch it up on taxes so we can take care of the deficit..let those who make over $1 million pay 33% in taxes, and those who make less pay 15%!
©2012 Article by Tomi Johnson. All rights reserved.
Tuesday, January 24, 2012
Career Fair in metro Atlanta January 25
Professional dress and resumes required! Call 770-955-8000 to get driving directions.
This is your opportunity to meet with top quality employers seeking leadership and diversity in professional candidates like you! Be prepared for a possible interview!
Participating companies: The Boeing Company, The Home Depot, Coca-Cola, Allstate, AFLAC, Bankers Life & Casualty, Consort Institute, CompassionCare Hospice, DeVry University, Keller Graduate School of Management, DiversityHiringExpos.com, Georgia Department of Labor, MetLife Financial Group, Primerica Financial, ProvNet Strategies, Inc., The Art Institutes, Trinity Broadcasting Network, U.S. Air Force, U.S. Navy, University of Phoenix, VIRTUOUS Career Services, Legal Sheild and more!
Companies wishing to recruit in Atlanta should call Jim Carter @ (770) 881-7620 ASAP. For additional career fair information or to preregister, visit:
http://www.diversityhiringexpos.com.
Monday, January 23, 2012
The White House announces plan to employ 180,000 youth
The search tool builds upon an open standard, the JobPosting schema and will include technical and promotional support by Google, Internships.com, AfterCollege, LinkedIn and Facebook. The Corporation for National and Community Service has also released a new toolkit created in collaboration with the WHCCS and employers to support businesses and communities in their efforts to help young people become productive citizens and connect to greater opportunities.
“America’s young people face record unemployment, and we need to do everything we can to make sure they’ve got the opportunity to earn the skills and a work ethic that come with a job," said President Obama in a White House press release.
"This is an all-hands-on-deck moment. That’s why we’re launching Summer Jobs+, a joint initiative that challenges business leaders and communities to join my Administration in providing hundreds of thousands of summer jobs for America’s youth,” Obama said.
Three key ways organizations can engage are:
1. Learn and Earn: Provide youth jobs for the summer of 2012 in the form of paid internships and/or permanent positions that provide on-the-job training. Of the roughly 180,000 job commitments announced today more than 70,000 are Learn and Earn commitments
2. Life Skills: Provide youth work-related soft skills, such as communication, time management and teamwork, through coursework and/or experience. This includes resume writing or interview workshops and mentorship programs.
3. Work Skills: Provide youth insight into the world of work to prepare for employment. This includes job shadow days and internships.
More information about this initiative can be found at dol.gov/summerjobs.
Photo: White House - Obama on telephone in Oval Office.
Breaking News: Tracy Morgan collapses during award ceremony
Last summer Morgan made his animation debut lending his voice for Jerry Bruckheimer’s G-FORCE, a combination live-action/CG film. Morgan starred as “Blaster,” one of the highly trained secret agent guinea pigs dispatched to save the world. The film opened number one in US box offices and was celebrated by audiences worldwide.
A milestone for Morgan was reached in 2009 with the release of his first book, a compilation of studied anecdotes and some of the more serious moments that shaped him and his career entitled I Am The New Black. With the success of his first book, he is currently beginning work on a full autobiography due out possibly as early as next year.
As a stand-up comic who has headlined across the country, Morgan was first introduced to television audiences in his role as “Hustleman” on the hit comedy series “Martin.” He went on to join “Saturday Night Live” in 1996 where he appeared for seven seasons and created such memorable characters as “Astronaut Jones” and “Brian Fellows.”
After leaving SNL, Morgan went on to star in his own comedy series “The Tracy Morgan Show” and voiced “Spoonie Luv” on Comedy Central’s “Crank Yankers.” Morgan currently resides in New York City.
Photo uploaded by Jamie jca, Author -Alex Erde from Scarsdale, United States 2008 Creative Commons Attribution 2.0 Generic license.
Saturday, January 21, 2012
Please forgive me while I'm sorting things out...
Just wanted you to know that I sometimes makes mistakes on my IPad...found out today that I need glasses...that may be the reason why I sometimes make spelling mistakes...know that I'm not perfect, but I am trying the best that I can to inform you of my thoughts ...will have my bifocals soon.
Luv,
Tomi Johnson
Luv,
Tomi Johnson
Tuskegee Airmen signify passing the test
As the movie Red Tails hits theaters across the country, we remember that the famed Tuskegee Airmen and their instructors were heroes who shot down planes AND myths. Here are some comments and photos from these living legends from interviews I conducted in 2002.
Col. Charles E. McGee, Bethesda, MD, National President of the Tuskegee Airmen, talked about that era. “You had to take a physical examination and besides being physically qualified, you had to pass mental tests. Being colorblind would keep you out; in fact, we had a friend who went through the training and was able to get by until that final physical and didn’t receive his commission because he was colorblind. But those were standards for everybody, Black or White, set for pilots coming into the Army Air Corps in 1941 through 1946. It’s important that those who are captains, first officers, or engineers are qualified so that people who have their tickets punched and board an aircraft can feel comfortable.
Captain Eugene W. Garges, Jr., Manhasset, Long Island, NY, (Eastern Airlines) was a flight trainer for the Tuskegee Airmen and talked about the experiment and the participant’s aptitudes. “The color of your skin has nothing to do with your aptitude as a pilot. I always told everybody that. When people find out that I had been at Tuskegee, and asked me, ‘How were they?’ I said, ‘No different from anybody else.’ The Tuskegee Airmen proved what should not have had to be proven – that they could fly.
“I have one memory of when an instructor took a man up for his first flight in an AT6 and gave him a lot of acrobatics, and asked him if he could do that, and he said, ‘I’ll try’ and he did it as well as the instructor. And the instructor came down, went to the flight leader, and told him he had a student that could fly as good as he could. And he said, ‘Do you have a guy by the name of James?’ And it was Chappie James. He was a good pilot. My advice to young pilots is to stay in school and get all the education you can.”
Airman LeRoy F. Gillead, a native New Yorker, “Most people have no idea there were 14,612 Black and White civilian and military women and men in the Tuskegee experiment because only the 450 combat pilots get the recognition, which is just about 3%. The Tuskegee Airmen were not all Black; that is a misconception people have. All those people were part of this experiment that began with the civilian pilot training program in 1939. It had five phases – 2 civilian and 3 military components. I enlisted in the 2nd Army Air Corps at Mitchell Field in New York to go to Chanute Field in Illinois to get technical training and become part of the 99th Bomber Squadron. It began in the fall of 1939 at six Black colleges, from the fighter group to the bomber group. There were 1500 support people behind those 450 pilots that went overseas.
“Most of the Blacks who came out of the experiment worked for the government, not commercial airlines. I don’t personally know of any airline pilot who was a Tuskegee Airmen. I don’t think that happened. The number of Blacks in the commercial airline industry has only varied by 1 or 2% from whenever they started. It’s still a very small amount. The potential for pilots in America is diminishing, not increasing because of automation and the kinds of planes they fly. Now you see people flying smaller planes, and they can fly pilots longer. The potential of being a pilot is not an open field as say electronics, but pilots make good money. It’s like basketball…all these boys who want to play basketball can’t succeed. They got 10,000 trying to be Michael Jordan, but very few can do it.”
©2002 Photos by Kurk D. Johnson. All rights reserved.
©2012 Article by Tomi Johnson. All rights reserved.
Friday, January 20, 2012
Gingrich's attack on media baseless, infidel powerplay
In last night's Republican debate, when asked about possible infidelity and an "open marriage" request, Gingrich answered the question posed by veteran CNN journalist John King in this manner, "The destructive, vicious, negative nature of much of the news media make it harder to govern this country, harder to attract decent people to run for public office."
First of all, before taking a job in what Gingrich categorizes as the "elite" media, one has to sign a contract that demands professionalism, ethical behavior, and truthfulness. For instance, the Cox Media Group which owns the Atlanta Journal-Constitution requires reporters to sign a news staff policy agreement which includes, "Newspapers function as a watchdog on government and other institutions. This means we must adhere to a high ethical standard ourselves. We cannot hold others to a higher standard than our own. We must conduct ourselves and our business in a way that reflects favorably on us as professionals and the AJC as an institution devoted to the public good."
I'm sure John King had to sign a similar agreement. Political candidates, however, do not have to sign these types of agreements. When Gingrich was Speaker of the House, he took an oath to defend the Constitution. As required by Article 6 of the U.S. Constitution, "Members of Congress shall be bound by oath or affirmation to support the Constitution. Representatives, delegates, and the resident commissioner all take the oath of office on the first day of the new Congress."
Gingrich took the following oath, "I will support and defend the Constitution of the United States against all enemies, foreign and domestic; that I will bear true faith and allegiance to the same; that I take this obligation freely, without any mental reservation or purpose of evasion; and that I will well and faithfully discharge the duties of the office on which I am about to enter. So help me God."
When he got married, he also took an oath: "I, Newt, take thee, Candance (1st wife)/ Marianne (2nd wife), to be my lawful wedded Wife, to have and to hold from this day forward, for better for worse, for richer for poorer, in sickness and in health, to love and to cherish, till death us do part, according to God's holy ordinance; and thereto I plight thee my troth." He agreed to remain faithful to his wives two times before he married his present wife who was his mistress. He asked wife #2 for a divorce soon after she was diagnosed with multiple sclerosis.
And if Newt becomes President, will he also take his oath lightly? My guess is that he will fall back into being as faithless a leader as he was an infidel in the bedroom.
The best way to win a war is not to start one. Don't start no S, won't be no S!
Photo by Gage Skidmore. Creative Commons Attribution-Share Alike 3.0 Unported license.
©2012 Tomi Johnson. All rights reserved.
Thursday, January 19, 2012
Wal-Mart vs The Morons: debate on adopting corporate rules to run the government
UPDATE: On January 20, 2012, Sam's Club named Rosalind Brewer CEO, the first woman and first African American to hold this position. Brewer will report directly to Wal-Mart CEO Mike Duke.
An email has been circulating suggesting that the federal government should be run like Wal-Mart, and that Wal-Mart executives should be hired to run the U.S. government. These facts could also be considered in trying to figure out whether a corporate executive has the credentials to run the national government. The pros and cons for this idea are mentioned below.
PROs:
In 2000, Wal-Mart's assets totaled more than the GDP of 155 of the 192 countries in the world, with annual sales of more than $137.6 billion. Americans spend $36,000,000 at Wal-Mart every hour daily, equating to $20,928 profit every minute! Wal-Mart employs 1.6 million people, is the world's largest private employer. Wal-Mart is the largest company in the history of the world. Wal-Mart now sells more food than Kroger and Safeway combined and more food than any other store in the world. 90% of all Americans live within fifteen miles of a Wal-Mart. This lays the ground work for suggesting that MAYBE the guys who run Wal-Mart could fix the economy.
Some suggest that the President of the U.S. and all of Congress are corrupt morons who have led to the following debacles:
- U.S. Postal Service, Social Security, Medicare, Medicaid, and Fannie Mae/Freddie Mac are broken.
- The War on Poverty has been lost.
- The Department of Energy is an abysmal failure.
- Government run health care will not work.
- Veterans, children in poverty, the unemployed, and the homeless are increasingly suffering.
CONS:
The EEOC is suing Wal-Mart over allegations of sexual harassment of female employees in Alabama. Nearly three-quarters of a million women work as "sales associates" in Wal-Mart stores. On average these women earn $6.10 per hour, or $12,688 per year if they are permitted to work full-time. This wage puts many of their families below the poverty level — half even qualify for federal assistance under the food stamp program.
Current and former employees in California are suing Wal-Mart for sex discrimination in pay, promotion, and compensation. This will be the country's largest sex discrimination suit against a private employer if it is granted class-action status.
Women who make pants in El Salvador earn 15 cents for each pair; Wal-Mart sells these pants for $16.95 in its U.S. stores. Also, contractors in El Salvador force workers to take pregnancy tests. According to Brandeis University Professor Ellen I. Rosen, women in Central America who make clothes for Wal-Mart live in shacks lacking running water or plumbing while women in China live nine to twelve to a room in government-provided dormitories. Some of Wal-Mart's workers in the U.S. spend their nights in trucks of motel rooms without cooking facilities.
Wal-Mart's health insurance plan excludes contraceptive coverage. A suit, which is seeking class action status, has been filed in Georgia regarding this exclusion.
The Maine Department of Labor ordered Wal-Mart to pay the largest fine in state history for violating child labor laws. The Department of Labor discovered 1,436 child labor law infractions at twenty Wal-Mart chains.
Lawsuits pertaining to Americans with Disabilities Act (ADA) violations have been filed in Missouri, Arizona, California, and Arkansas.
Employees from Wisconsin, Michigan, Ohio, Washington, Illinois, Iowa, and West Virginia have sued Wal-Mart for underpaying its hourly workers. Employees from Missouri and Kansas have filed class-action suits alleging "acts of wage abuse." These acts include neglecting to pay workers overtime, preventing rest and lunch breaks, and forcing them to "work off the clock."
A former employee in New Jersey reported being harassed and fired after telling his boss that he was undergoing a sex change. He won the case, and Wal-Mart was ordered to pay him $2 million.
The National Labor Relations Board (NLRB) has filed suit against the New Castle, Pennsylvania Wal-Mart for unfair labor practices. It alleges that Wal-Mart illegally discouraged workers of the Tire and Lube Express department from joining a union. The NLRB also filed a suit against the Jacksonville, Texas Wal-Mart for unfair labor practices. It alleges that Wal-Mart threatened meat cutters, interrogated them regarding their union sympathies, and fired those who are pro-union. The United Food and Commercial Workers Union has filed a complaint with the NLRB alleging that two workers were fired because of their union organizing activities.
Following a vote in favor of union representation by the butchers in Jacksonville, Texas, Wal-Mart announced that meat cutting would end at 180 stores.
In the video Behind the Labels: Garment Workers in U.S. Saipan, Wal-Mart is featured as one of the retailers which contract with "sweatshops" in Saipan for the manufacturing of garments sold in their stores.
Bloggers' notes:
The U.S. government is set up to protect the individual rights of ALL citizens and should be run as a democracy. Wal-Mart is set up to protect the interests of its stockholders and deals with profits only...is out to make the most profit it can regardless of whether its employees are making a living wage. Wal-Mart may be customer friendly, as far as prices, but it leaves a lot to be desired when it comes to taking care of its own human resources as its many EEOC lawsuits suggest. If you compare Wal-Mart's pricing to other stores, you may find that its prices are the same or maybe only cents cheaper than other stores with better employee benefits and processes.
Also, Sam Walton's kids are multi-billionaires, according to Forbes Magazine, truly the top of the 1%! They and their stockholders are the ones who are living high on the hog at the disadvantage of their employees, many of them who are impoverished but possibly are happy to have a job, which provides some since of dignity, instead of living on food stamps which is probably worse.
As far as getting the best deal on food, this may not be the best food for the body. Wal-Mart has good food prices but a lot of food coming from outside the country, foods with a lot of preservatives and additives. As we age, we are becoming more cautious when it comes to these foods which could be killing us. It is probably better to eat less WALMART food and more nutritious foods and not stock up on canned foods and processed meats from Wal-Mart.
If you want a good deal on non-food items, go to Sears stores which are being liquidated as well as many others including some Bloomingdale's stores which are getting beaten by low prices of Internet stores, Wal-Mart, and Target which have taken a big chunk of their customer base.
An email has been circulating suggesting that the federal government should be run like Wal-Mart, and that Wal-Mart executives should be hired to run the U.S. government. These facts could also be considered in trying to figure out whether a corporate executive has the credentials to run the national government. The pros and cons for this idea are mentioned below.
PROs:
In 2000, Wal-Mart's assets totaled more than the GDP of 155 of the 192 countries in the world, with annual sales of more than $137.6 billion. Americans spend $36,000,000 at Wal-Mart every hour daily, equating to $20,928 profit every minute! Wal-Mart employs 1.6 million people, is the world's largest private employer. Wal-Mart is the largest company in the history of the world. Wal-Mart now sells more food than Kroger and Safeway combined and more food than any other store in the world. 90% of all Americans live within fifteen miles of a Wal-Mart. This lays the ground work for suggesting that MAYBE the guys who run Wal-Mart could fix the economy.
Some suggest that the President of the U.S. and all of Congress are corrupt morons who have led to the following debacles:
- U.S. Postal Service, Social Security, Medicare, Medicaid, and Fannie Mae/Freddie Mac are broken.
- The War on Poverty has been lost.
- The Department of Energy is an abysmal failure.
- Government run health care will not work.
- Veterans, children in poverty, the unemployed, and the homeless are increasingly suffering.
CONS:
The EEOC is suing Wal-Mart over allegations of sexual harassment of female employees in Alabama. Nearly three-quarters of a million women work as "sales associates" in Wal-Mart stores. On average these women earn $6.10 per hour, or $12,688 per year if they are permitted to work full-time. This wage puts many of their families below the poverty level — half even qualify for federal assistance under the food stamp program.
Current and former employees in California are suing Wal-Mart for sex discrimination in pay, promotion, and compensation. This will be the country's largest sex discrimination suit against a private employer if it is granted class-action status.
Women who make pants in El Salvador earn 15 cents for each pair; Wal-Mart sells these pants for $16.95 in its U.S. stores. Also, contractors in El Salvador force workers to take pregnancy tests. According to Brandeis University Professor Ellen I. Rosen, women in Central America who make clothes for Wal-Mart live in shacks lacking running water or plumbing while women in China live nine to twelve to a room in government-provided dormitories. Some of Wal-Mart's workers in the U.S. spend their nights in trucks of motel rooms without cooking facilities.
Wal-Mart's health insurance plan excludes contraceptive coverage. A suit, which is seeking class action status, has been filed in Georgia regarding this exclusion.
The Maine Department of Labor ordered Wal-Mart to pay the largest fine in state history for violating child labor laws. The Department of Labor discovered 1,436 child labor law infractions at twenty Wal-Mart chains.
Lawsuits pertaining to Americans with Disabilities Act (ADA) violations have been filed in Missouri, Arizona, California, and Arkansas.
Employees from Wisconsin, Michigan, Ohio, Washington, Illinois, Iowa, and West Virginia have sued Wal-Mart for underpaying its hourly workers. Employees from Missouri and Kansas have filed class-action suits alleging "acts of wage abuse." These acts include neglecting to pay workers overtime, preventing rest and lunch breaks, and forcing them to "work off the clock."
A former employee in New Jersey reported being harassed and fired after telling his boss that he was undergoing a sex change. He won the case, and Wal-Mart was ordered to pay him $2 million.
The National Labor Relations Board (NLRB) has filed suit against the New Castle, Pennsylvania Wal-Mart for unfair labor practices. It alleges that Wal-Mart illegally discouraged workers of the Tire and Lube Express department from joining a union. The NLRB also filed a suit against the Jacksonville, Texas Wal-Mart for unfair labor practices. It alleges that Wal-Mart threatened meat cutters, interrogated them regarding their union sympathies, and fired those who are pro-union. The United Food and Commercial Workers Union has filed a complaint with the NLRB alleging that two workers were fired because of their union organizing activities.
Following a vote in favor of union representation by the butchers in Jacksonville, Texas, Wal-Mart announced that meat cutting would end at 180 stores.
In the video Behind the Labels: Garment Workers in U.S. Saipan, Wal-Mart is featured as one of the retailers which contract with "sweatshops" in Saipan for the manufacturing of garments sold in their stores.
Bloggers' notes:
The U.S. government is set up to protect the individual rights of ALL citizens and should be run as a democracy. Wal-Mart is set up to protect the interests of its stockholders and deals with profits only...is out to make the most profit it can regardless of whether its employees are making a living wage. Wal-Mart may be customer friendly, as far as prices, but it leaves a lot to be desired when it comes to taking care of its own human resources as its many EEOC lawsuits suggest. If you compare Wal-Mart's pricing to other stores, you may find that its prices are the same or maybe only cents cheaper than other stores with better employee benefits and processes.
Also, Sam Walton's kids are multi-billionaires, according to Forbes Magazine, truly the top of the 1%! They and their stockholders are the ones who are living high on the hog at the disadvantage of their employees, many of them who are impoverished but possibly are happy to have a job, which provides some since of dignity, instead of living on food stamps which is probably worse.
As far as getting the best deal on food, this may not be the best food for the body. Wal-Mart has good food prices but a lot of food coming from outside the country, foods with a lot of preservatives and additives. As we age, we are becoming more cautious when it comes to these foods which could be killing us. It is probably better to eat less WALMART food and more nutritious foods and not stock up on canned foods and processed meats from Wal-Mart.
If you want a good deal on non-food items, go to Sears stores which are being liquidated as well as many others including some Bloomingdale's stores which are getting beaten by low prices of Internet stores, Wal-Mart, and Target which have taken a big chunk of their customer base.
Wednesday, January 18, 2012
World Bank projects negative economic impacts on developing countries
According to a press release issued by the World Bank, developing countries should prepare for further downside risks, as Euro Area debt problems and weakening growth in several big emerging economies are dimming global growth prospects.
The Bank has lowered its growth forecast for 2012 to 5.4 percent for developing countries and 1.4 percent for high-income countries (-0.3 percent for the Euro Area), down from its June estimates of 6.2 and 2.7 percent (1.8 percent for the Euro Area), respectively. Global growth is now projected at 2.5 and 3.1[1] percent for 2012 and 2013, respectively.
Slower growth is already visible in weakening global trade and commodity prices. Global exports of goods and services expanded an estimated 6.6 percent in 2011 (down from 12.4 percent in 2010), and are projected to rise by only 4.7 percent in 2012. Meanwhile, global prices of energy, metals and minerals, and agricultural products are down 10, 25 and 19 percent respectively since peaks in early 2011. Declining commodity prices have contributed to an easing of headline inflation in most developing countries.
Although international food prices eased in recent months, down 14 percent from their peak in February 2011, food security for the poorest, including in the Horn of Africa, remains a central concern.
“Developing countries need to evaluate their vulnerabilities and prepare for further shocks, while there is still time,” said Justin Yifu Lin, the World Bank’s Chief Economist and Senior Vice President for Development Economics.
Developing countries have less fiscal and monetary space for remedial measures than they did in 2008/09. As a result, their ability to respond may be constrained if international finance dries up and global conditions deteriorate sharply.
To prepare for that possibility, Hans Timmer, Director of Development Prospects at the World Bank, said: “Developing countries should pre-finance budget deficits, prioritize spending on social safety nets and infrastructure, and stress-test domestic banks.”
While prospects in most low-and middle-income countries remain favorable, the ripple effects of the crisis in high-income countries are being felt worldwide. Already, developing country sovereign spreads have increased 45 basis points on average and gross capital flows to developing countries plunged to $170 billion in the second half of 2011, compared with $309 billion received during the same period in 2010.
“An escalation of the crisis would spare no-one. Developed- and developing-country growth rates could fall by as much or more than in 2008/09” said Andrew Burns, Manager of Global Macroeconomics and lead author of the report. “The importance of contingency planning cannot be stressed enough.”
The full report and accompanying datasets are available at www.worldbank.org/globaloutlook
The Bank has lowered its growth forecast for 2012 to 5.4 percent for developing countries and 1.4 percent for high-income countries (-0.3 percent for the Euro Area), down from its June estimates of 6.2 and 2.7 percent (1.8 percent for the Euro Area), respectively. Global growth is now projected at 2.5 and 3.1[1] percent for 2012 and 2013, respectively.
Slower growth is already visible in weakening global trade and commodity prices. Global exports of goods and services expanded an estimated 6.6 percent in 2011 (down from 12.4 percent in 2010), and are projected to rise by only 4.7 percent in 2012. Meanwhile, global prices of energy, metals and minerals, and agricultural products are down 10, 25 and 19 percent respectively since peaks in early 2011. Declining commodity prices have contributed to an easing of headline inflation in most developing countries.
Although international food prices eased in recent months, down 14 percent from their peak in February 2011, food security for the poorest, including in the Horn of Africa, remains a central concern.
“Developing countries need to evaluate their vulnerabilities and prepare for further shocks, while there is still time,” said Justin Yifu Lin, the World Bank’s Chief Economist and Senior Vice President for Development Economics.
Developing countries have less fiscal and monetary space for remedial measures than they did in 2008/09. As a result, their ability to respond may be constrained if international finance dries up and global conditions deteriorate sharply.
To prepare for that possibility, Hans Timmer, Director of Development Prospects at the World Bank, said: “Developing countries should pre-finance budget deficits, prioritize spending on social safety nets and infrastructure, and stress-test domestic banks.”
While prospects in most low-and middle-income countries remain favorable, the ripple effects of the crisis in high-income countries are being felt worldwide. Already, developing country sovereign spreads have increased 45 basis points on average and gross capital flows to developing countries plunged to $170 billion in the second half of 2011, compared with $309 billion received during the same period in 2010.
“An escalation of the crisis would spare no-one. Developed- and developing-country growth rates could fall by as much or more than in 2008/09” said Andrew Burns, Manager of Global Macroeconomics and lead author of the report. “The importance of contingency planning cannot be stressed enough.”
The full report and accompanying datasets are available at www.worldbank.org/globaloutlook
Tuesday, January 17, 2012
My appeal to Newt Gingrich to help me find employment
This message was emailed to Mr. Gingrich's office earlier today.
"Dear Mr. Gingrich,
Thank you for agreeing to help me find a job during last night's debate. I need a job making a living wage. Better yet, I need a job that will make me part of the 1% club of which you belong. I believe that I can do what it takes to make between $300k and $550k per year so I can be on a level playing field with you and the rest of your Republican friends. I will even settle for a job making 20% of those numbers so I can pay my bills and buy food. I have education and experience in public relations, marketing, political leadership, education, and project management.
Since you said you can help poor people find jobs, where can I fax my resume? If you or your staff don't respond, I will know that your remarks last night about helping African Americans find jobs were all a joke.
A legal U. S. citizen"
I urge others wishing to get assistance from Gingrich to email him by going to his campaign website. NOTE: Gingrich said he was going to help the poor learn how to get a job, but did not say he was going to make sure they became employed or give them a job himself.
"Dear Mr. Gingrich,
Thank you for agreeing to help me find a job during last night's debate. I need a job making a living wage. Better yet, I need a job that will make me part of the 1% club of which you belong. I believe that I can do what it takes to make between $300k and $550k per year so I can be on a level playing field with you and the rest of your Republican friends. I will even settle for a job making 20% of those numbers so I can pay my bills and buy food. I have education and experience in public relations, marketing, political leadership, education, and project management.
Since you said you can help poor people find jobs, where can I fax my resume? If you or your staff don't respond, I will know that your remarks last night about helping African Americans find jobs were all a joke.
A legal U. S. citizen"
I urge others wishing to get assistance from Gingrich to email him by going to his campaign website. NOTE: Gingrich said he was going to help the poor learn how to get a job, but did not say he was going to make sure they became employed or give them a job himself.
Monday, January 16, 2012
MLK Day speaker compares King to Nehemiah and washing machine part
After a score of sermonettes, political speeches, litanies, and songs, Rev. Haynes was introduced by MLK's youngest child, the Rev. Dr. Bernice A. King. "You know, when a preacher shows up without a bible, you know he has the word deep within him," King said.
Haynes compared MLK to the biblical Nehemiah whose mission was to save his people and rebuild city walls which were forms of security in the ancient world. He said neither King nor Nehemiah were self centered. He said many successful people, however, are akin to pardoned turkeys living on Turkey Hill who have forgotten there are others who are suffering from mis-education, hunger, poverty, injustice, and disease.
"Like some people, the turkey who has been saved from slaughter and is kicking it with the rich and famous, forgets about folks in penal institutions," Haynes said. He continued that longevity in America is closely tied to a person's zip code.
"Nehemiah was the king's former cup bearer who resorted to prayer to rebuild walls," Haynes said.
Haynes also made many references to President Barack Obama. "He inherited a hot mess...an economy that was losing jobs, wars were being mismanaged...but together, we can make a difference, rebuild walls, heal our land." He urged people to organize and mobilize, even when "all hell is breaking loose."
Haynes also compared MLK to a washing machine's agitator which stirs up waters to get stains out. He said King agitated by speaking truth to power and was admonished for doing so by preachers in Birmingham, Ala. before he wrote his famous letter from jail.
He said King was angry and became agitated when he witnessed poverty, injustice, and Jim Crow apartheid in America. Like King, "Be not content to give out charity, but change policy," he said.
Haynes said King was a victim of identity theft. "You don't get killed or hunted by the FBI for dreaming. King was dangerous because he agitated to change public policy," he said. "He used the spirit of sacrifice for the greater good, like Nehemiah when he was governor.
"We must fight voter suppression, right education, spur economic empowerment, fight for the next generation, " Haynes continued. "God, please remember me with favor, for all I have done for these people...for people who can't pay me back," should be our cry.
"Favor, slap your neighbor, can't be equated with finance...we must have the power to overcome opposition and fulfill King's mission...you don't have to fly first class on an airplane to exhibit first class behavior," Haynes concluded.
©2012 Tomi Johnson. All rights reserved.
Friday, January 13, 2012
How will top college in U.S. celebrate the King Holiday?
On Sunday, Jan. 15, from 4 p.m. to 6 p.m., quilt artists Jeanne Marklin of Williamstown and Betty Warner of Connecticut will present “Unspoken Truth about Color: A Dialogue in Art Quilts about Racism” in the lobby of the ’62 Center for Theatre and Dance. Twenty-four quilts will be featured, and light snacks and refreshments will be provided.
From 7 p.m. to 9 p.m. in Brooks-Rogers Recital Hall, the Multicultural Center Change Series will present a lecture titled, “Brother Outsider: The Life of Bayard Rustin.” Rustin was one of the first “freedom riders,” served as an advisor to King, and helped organize the 1963 March on Washington.
On Monday, Jan. 16, from 9 a.m. to noon, there will be a social change media project in Baxter Hall, Paresky. The project includes a film screening of Citizen King and a slideshow of activist, social, and cultural scholars of different social movements.
From 10 a.m. to noon, Williams College librarians Christine Menard and Mercedea Shriver will present “Understanding the Times and Reason for Movement: A Library Exhibit” in Baxter Hall, Paresky. They will provide historical documents, including national newspapers, magazines, record articles, and photos, available for checkout on site.
At noon, President Adam Falk and Muslim Chaplain Bilal Ansari will lead a moment of silence in memory of King and provide a few words on the importance of the day in Baxter Hall. Immediately following, selected essays and poems by 5th and 6th grade Williamstown Elementary School students will be read.
The museum exhibit “African Americans and the American Scene, 1929 – 1945″ will be open for display from 1:15 p.m. to 3 p.m. at the Williams College Museum of Art. The exhibit looks at the role of African Americans in the visual and performing arts during the Great Depression.
From 3 p.m. to 5 p.m., local speakers, educators, and activists will present “Continuing the Fight for Justice: Active Engagement in the Berkshires and Beyond” in Baxter Hall, Paresky. They will speak about their involvement with the Spruces mobile home park and the Occupy Movement locally. Students for Social Justice is organizing this programming.
At 7:30 p.m., Stewart Burns, coordinator of community engagement, will give a talk and lead a discussion titled “Breaking the Silence of the Night: Dr. King’s Call to Serve in 2012.” The event will take place in Paresky Theater.
Williams College is a private liberal arts college founded in 1793 which has an enrollment of approximately 2,200 students. The events are sponsored by the Williams College Multicultural Center, the ’62 Center, the Chaplains’ Office, Dining Services, the Center for Community Engagement, Williams College Museum of Art, and Sawyer Library.
Photo: Creative Commons Attribution-Share Alike 2.0 Generic license.
Children's Healthcare of Atlanta holds book and toy drive for MLK holiday
"Life's most persistent and urgent question is, 'What are you doing for others'" was a quote made by Dr. King, and this drive is a display of our care and support," said LaTasha Hood - Adkins.
In 1998, Egleston Children's Health Care System and Scottish Rite Medical Center formed Children's Healthcare of Atlanta — one of the largest pediatric systems in the country. The new system had a single priority: children and families.
The donations will be made to children in the hospital on January 20, 2012. For more information, contact Ms. Adkins at 678-731-5650 or Jennifer Alicea at 678-731-5738.
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