Wednesday, 31 October 2012

FEMA: Flood Insurance may be Lacking | Daily Business News

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In the wake of Hurricane Sandy, the Federal Emergency Management Fund (FEMA) has enough funding for disaster relief, but it may come up short for the federal flood insurance program, MHProNews has learned from CNNMoney. The National Flood Insurance Program (NFIP) paid out $1.8 billion following Hurricane Irene last year, but the tab this year is expected to run in the multi-billions, although it is too early to know the actual figure. FEMA still owes $18 billion to the Treasury Department for Hurricane Katrina, and while it has access to $3.8 billion, Congress may have to add funding to the program. Private insurers do not sell flood insurance. People in the Northeast are less likely to buy flood insurance than those living in the hurricane-prone South. However, since Hurricane Irene hit last year, 14 percent of homeowners living in the Northeast bought federal flood insurance, an increase from five percent in 2011.

(Photo credit: Spencer Platt/Getty Images)

Categories: News Item, Trends Tags: billions, Congress, disaster relief, emergency management fund, federal emergency management, Federal Flood Insurance, federal flood insurance program, FEMA, fema flood insurance, flood insurance program, Hurricane Irene, Hurricane Katrina, insurance, MHProNews, national flood insurance, national flood insurance program, private insurers, Treasury Department

Source: http://www.mhmarketingsalesmanagement.com/blogs/daily-business-news/fema-flood-insurance-may-be-lacking/

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Friday, 26 October 2012

Jailed punk band got what they deserved: Putin

NOVO OGARYOVO, Russia (Reuters) - President Vladimir Putin flatly rejected on Thursday Western criticism of the imprisonment of the Pussy Riot punk protest band, saying its three female members deserved their fate because they threatened the moral foundations of Russia.

During a two-hour dinner conversation with a group of foreign Russia experts, Putin spent most of his time carefully explaining how his country was trying to improve the business climate and diversify the economy away from its heavy dependence on oil and gas by promoting high-tech industries.

The Kremlin chief said he had "mixed feelings" about a $55 billion state-sponsored takeover of the country's number three private oil producer TNK-BP last week because it increased state-controlled Rosneft's domination of the energy sector.

But Putin said he acted to help BP and put an end to "fistfights" between the British oil major and its four Soviet-born oligarch partners. "We tried not to get involved, but when BP managers came to me and the government and said we want to cooperate with Rosneft, we could not say no," said Putin. Rosneft is run by a longtime close Putin ally, Igor Sechin, and the deal will give BP a stake of nearly 20 percent.

Putin said he was implementing new laws and reforming the courts to reach a target of moving Russia up from its 112th place in the annual World Bank rankings for ease of doing business - below Pakistan - to a top 20 place by 2018.

PUSSY RIOT

But the president, now in his 13th year running Russia, became animated only when asked about Pussy Riot during the seven-course meal with the Valdai Club of foreign journalists and academics at his Stalin-era residence in a wooded compound outside Moscow.

The Valdai members were kept waiting in a separate room for an hour and a half for the meeting, while Putin met a group of factory workers and teachers from the Volga region to discuss religious cults.

Two young women from Pussy Riot received two-year prison sentences for "hooliganism motivated by religious hatred" after performing a crude anti-Putin protest song in Moscow's main cathedral. A third band member was released on a suspended sentence.

At Thursday's dinner Putin raised his voice, looked straight at the questioner and asked why Westerners who criticized Russia for sending two of the young women to labor camps far from Moscow had not come out in support of a jailed American who made an anti-Muslim hate film.

"Do you want to support people with such views? If you do, then why do you not support the guy who is sitting in prison for the film about the Muslims?" the president shot back.

This was an apparent reference to "The Innocence of Muslims", a crude hate video that triggered violent protests across the Islamic world when it was aired on the Internet.

An actress in the film has identified an Egyptian-born Californian, Mark Basseley Youssef, as its author. Youssef is currently detained on suspicion of violating his probation terms for a bank fraud conviction.

"We have red lines beyond which starts the destruction of the moral foundations of our society," Putin went on. "If people cross this line they should be made responsible in line with the law." He described Pussy Riot's protest as "an act of group sex aimed at hurting religious feelings".

CLAMPDOWN ON DISSENT

Putin's comments came amid a wider clampdown on dissent in Russia, which has included arrests of opposition leaders on criminal charges and tighter controls on media.

This has led to fears that the political system, which is highly centralized under the Kremlin, is becoming increasingly ossified and intolerant.

Putin deflected a question about the possible stagnation of the system by saying Russia was re-introducing direct elections for state governors, making it easier for political parties to register and allowing citizens to petition the state Duma (parliament) directly with proposals.

Many of the same faces who worked with Putin when he was deputy mayor of St Petersburg in the early 1990s are still in senior positions in Moscow in the government and in state companies.

But Putin said around two-thirds of the members of the government had been changed when he returned to the Kremlin earlier this year, swapping places with his prot?g? Dmitry Medvedev, who is now prime minister.

"I prefer to choose qualified, experienced people who have proved they can do well," the president explained. He rejected suggestions that there were any disputes inside the government in the wake of the departure just over a year ago of long-time Finance Minister Alexei Kudrin.

TRADE GOALS

Putin insisted that Russia would continue to give a high priority to growing its trade with its top business partner China, aiming to boost bilateral business to $100 billion a year from current levels of $83.5 billion.

Beijing and Moscow were also keen to do as much trade as possible in their national currencies, he said, noting that the rouble was fully convertible and that it was a "matter of time" until the yuan was, too.

By contrast, he berated the European Union for its "ridiculous" slowness in agreeing a visa-free regime for Russia and attacked Brussels for not taking him up on an offer of cooperation on a new satellite navigation system between the European Galileo system and Russia's GLONASS project.

"The EU has a visa-free regime with certain Latin American countries, and I don't think their crime levels are any less than ours," he said. "I don't understand this approach."

Putin also had a ready answer for a questioner who enquired how he would stop an exodus of talented, qualified young people to the West. It was entirely normal, he said, for young people to study and work in other countries where there was more money or a good education on offer.

And what would the president want historians to highlight as the greatest achievement of his third term in the Kremlin?

"You know, I am never guided by a possible assessment of my work," Putin said, before highlighting how the economy had doubled in size under his stewardship, average incomes had soared, gold reserves were the world's fourth biggest, the birth rate had increased - all what he termed "modest, positive changes ... but not enough".

"We need to create a democratic, effective system of governance so that people feel they are participating," he said. "We need to create an effective economy which is looking forward and to guarantee the country's security. I am sure we are capable of solving all these problems."

(Additional reporting by Gleb Bryanski; Editing by Will Waterman)

Source: http://news.yahoo.com/pussy-riot-got-deserved-putin-201524715--finance.html

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Video: Clinton: Libya emails don't paint full picture (cbsnews)

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Economy is healing - Chancellor Osborne

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Thursday, 18 October 2012

Out Now Launches LGBT Business-to-Business Network at WTM

Marketing specialist Out Now Global is launching a new business networking service for travel companies looking to build share, reach and presence in the multi-billion valued travel market comprised of LGBT (lesbian, gay, bisexual and transgender) people at World Travel Market 2012.

Out Now Business Class http://www.outnowbusinessclass.com officially launches at WTM 2012 in London (November 5-8) and includes a new pavilion at the event to help industry operators unlock the potential of the LGBT travel market, which accounts for six per cent of the population and is worth at least USD $165billion annually (source: LGBT2020 Study) to the total global travel industry.

Members of Out Now Business Class also enjoy on-going online access to a premium suite of research, education and training resources to help operators grow their business in the LGBT market by getting access to the latest key market intelligence, customer trends, training programs and marketing strategies.

Out Now Global founder and CEO Ian Johnson said: ?Forward thinking brands know that effective LGBT marketing is much more than just selling stuff. Investment in areas such as customer service is paramount. But few businesses can do it on their own.

?Out Now Business Class is designed to help the travel industry better understand and leverage the LGBT consumer market through informed education and training, better networking opportunities and enhanced access to important trends around purchasing behaviours and decisions.?

Reed Travel Exhibitions Chairman World Travel Market Fiona Jeffery said: ?WTM has enjoyed a strong relationship with Out Now for the past six years with the LGBT marketing company supplying the latest research and opinion on the sector.

?I am delighted that this relationship has developed into a dedicated LGBT Pavilion giving countries and companies focused on the LGBT market a place to conduct business.?

Furthermore, Out Now will release the latest and most comprehensive research at World Travel Market - with brand new data from more than 20 countries including Brazil, India, Israel and Turkey. The new LGBT2020 tourism spend projections for 2013 will also be released, and Out Now Business Class will screen the world?s first ever gay airline advert at their LGBT marketing masterclass which is on Wednesday, November 7 at 10.30am at WTM. A preview of that advertising ? the world?s first ever gay tourism commercial - is online at http://www.youtube.com/watch?v=AyJk7n4KigM and has not been seen in public in full since 1996.

Source: http://www.ftnnews.com/mice/18778-out-now-launches-lgbt-business-to-business-network-at-wtm.html

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Earnings roundup: St Jude Medical, Amphenol

Among the earnings stories for Wednesday, Oct. 17, from The Associated Press:

? Medical device maker St. Jude Medical Inc. reported third-quarter earnings that beat expectations, though company shares slumped as the executives warned that the company could receive a regulatory warning over a California manufacturing plant.

? Amphenol, which makes fiber optic cables, said its third-quarter net income climbed 10 percent, driven by strength across a variety of markets.

? Television and digital media company Media General Inc. said its third-quarter net loss widened because of higher expenses, but revenue grew sharply thanks to an increase in political advertising and the Olympics.

? Dover Corp.'s third-quarter net income rose 40 percent, helped by acquisitions and by the absence of a big loss tied to discontinued operations from a year ago. But CEO Robert Livingston said the company faces challenges in the handset and electronics markets, along with uncertainty in the global economy, and the manufacturer cut its forecast for the year.

Source: http://news.yahoo.com/earnings-roundup-st-jude-medical-amphenol-192444815--finance.html

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Who Is the Highest-Paid Actor on Television?

Ashton Kutcher has a lot to be thankful for this year. Not only is he dating the sexiest woman alive and portraying one of the brightest minds of our generation in a new movie, he's also the highest paid actor on television.

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