Wednesday, March 18, 2009

United States President Barack Obama stated Monday that insurance giant AIG is in financial trouble due to “recklessness and greed,” and called for legal action to stop the company from giving out millions of dollars in bonuses to its executives.

“It’s hard to understand how derivative traders at AIG warranted any bonuses, much less $165 million in extra pay,” Obama said. “How do they justify this outrage to the taxpayers who are keeping the company afloat.”

Obama’s statement comes after reports surfaced last weekend saying the insurance agency, which is in deep financial trouble, had paid US$165 million to executives in bonuses, after receiving $170 billion as part of a government bailout plan.

AIG has said that the bonuses have to be given out, as the company is legally required by contract to do so. A representative with the National Economic Council, Lawrence H. Summers, also said that the bonuses were required to be given out. If AIG had refused to give out the bonuses, employees could file a lawsuit against the company for the money.

“We cannot attract and retain the best and the brightest talent to lead and staff the A.I.G. businesses — which are now being operated principally on behalf of American taxpayers — if employees believe their compensation is subject to continued and arbitrary adjustment by the U.S. Treasury,” AIG CEO Edward M. Liddy said in a letter addressed to Treasury Secretary Timothy F. Geithner on Saturday.

Liddy said that he asked Geithner “to use that leverage and pursue every legal avenue to block these bonuses and make the American taxpayers whole.”

“I want everybody to be clear that Secretary Geithner’s been on the case,” Obama said. “He’s working to resolve this matter with the new CEO, Edward Liddy, who, by the way, everybody needs to understand, came on board after the contracts that led to these bonuses were agreed to last year.”

If the bonuses cannot be stopped, the U.S. Congress says they want AIG to reimburse the government. Congress is looking to impose stiff new taxes on the pay, or ordering the company to return the money which was originally granted from a government bailout. In a letter to House Speaker Nancy Pelosi on Tuesday, senator Richard Shelby promised that the treasury will recover all of the money. Several U.S. senators along with Liddy have sent letters to AIG asking for the bonuses to be renegotiated, something AIG agreed to and says they will reduce future bonuses by 30%. Senators state that if Libby does not respond by renegotiating the bonuses, the Senate Finance Committee will propose an excise tax. Not only will an excise tax be proposed on AIG, but all companies receiving bailout money and their employees who receive bonuses.

Numerous House Democrats have introduced legislation which would place a 100% tax on any bonuses of over $100,000 from companies that are receiving government bailout funds. Meanwhile in the Senate, a bipartisan proposal by Max Baucus (D-Montana) and Charles Grassley (R-Iowa) would levy a special 90% excise tax on AIG’s bonuses. Asked Senator Baucus, who chairs the Senate Finance Committee: “What is the highest excise tax we can impose that will stand up in court? Let’s find out.”

Friday, September 7, 2012

London, England — On Wednesday, Wikinews interviewed Duncan Campbell, one of the creators of wheelchair rugby.

((Laura Hale)) You’re Duncan Campbell, and you’re the founder of…

Duncan Campbell: One of the founders of wheelchair rugby.

((Laura Hale)) And you’re from Canada, eh?

Duncan Campbell: Yes, I’m from Canada, eh! (laughter)

((Laura Hale)) Winnipeg?

Duncan Campbell: Winnipeg, Manitoba.

((Laura Hale)) You cheer for — what’s that NHL team?

Duncan Campbell: I cheer for the Jets!

((Laura Hale)) What sort of Canadian are you?

Duncan Campbell: A Winnipeg Jets fan! (laughter)

((Laura Hale)) I don’t know anything about ice hockey. I’m a Chicago Blackhawks fan.

((Hawkeye7)) Twenty five years ago…

Duncan Campbell: Thirty five years ago!

((Laura Hale)) They said twenty five in the stadium…

Duncan Campbell: I know better.

((Hawkeye7)) So it was 1977.

((Laura Hale)) You look very young.

Duncan Campbell: Thank you. We won’t get into how old I am.

((Hawkeye7)) So how did you invent the sport?

Duncan Campbell: I’ve told this story so many times. It was a bit of a fluke in a way, but there were five of us. We were all quadriplegic, that were involved in sport, and at that time we had the Canadian games for the physically disabled. So we were all involved in sports like table tennis or racing or swimming. All individual sports. And the only team sport that was available at that time was basketball, wheelchair basketball. But as quadriplegics, with hand dysfunction, a bit of arm dysfunction, if we played, we rode the bench. We’d never get into the big games or anything like that. So we were actually going to lift weights one night, and the volunteer who helped us couldn’t make it. So we went down to the gym and we started throwing things around, and we tried a few things, and we had a volleyball. We kind of thought: “Oh! This is not bad. This is a lot of fun.” And we came up with the idea in a night. Within one night.

((Hawkeye7)) So all wheelchair rugby players are quadriplegics?

Duncan Campbell: Yes. All wheelchair rugby players have to have a disability of some kind in all four limbs.

((Laura Hale)) When did the classification system for wheelchair rugby kick in?

Duncan Campbell: It kicked in right away because there was already a classification system in place for wheelchair basketball. We knew basketball had a classification system, and we very consciously wanted to make that all people with disabilities who were quadriplegics got to play. So if you make a classification system where the people with the most disability are worth more on the floor, and you create a system where there are only so many points on the floor, then the people with more disability have to play. And what that does is create strategy. It creates a role.

((Hawkeye7)) Was that copied off wheelchair basketball?

Duncan Campbell: To some degree, yes.

((Laura Hale)) I assume you’re barracking for Canada. Have they had any classification issues? That made you

Duncan Campbell: You know, I’m not going to… I can’t get into that in a major way in that there’s always classification issues. And if you ask someone from basketball, there’s classification issues. If you ask someone from swimming… There’s always classification issues. The classifiers have the worst job in the world, because nobody’s ever satisfied with what they do. But they do the best they can. They’re smart. They know what they’re doing. If the system needs to change, the athletes will, in some way, encourage it to change.

((Laura Hale)) Do you think the countries that have better classifiers… as someone with an Australian perspective they’re really good at classification, and don’t get theirs overturned, whereas the Americans by comparison have had a number of classification challenges coming in to these games that they’ve lost. Do you think that having better classifiers makes a team better able to compete at an international level?

Duncan Campbell: What it does is ensures that you practice the right way. Because you know the exact classifications of your players then you’re going to lineups out there that are appropriate and fit the classification. If your classifications are wrong then you may train for six months with a lineup that becomes invalid when that classification. So you want to have good classifiers, and you want to have good classes.

((Laura Hale)) When you started in 1977, I’ve seen pictures of the early wheelchairs. I assume that you were playing in your day chair?

Duncan Campbell: Yes, all the time. And we had no modifications. And day chairs at that time were folding chairs. They were Earjays or Stainless. That’s all the brands there were. The biggest change in the game has been wheelchairs.

((Laura Hale)) When did you retire?

Duncan Campbell: I never retired. Still play. I play locally. I play in the club level all the time.

((Laura Hale)) When did you get your first rugby wheelchair?

Duncan Campbell: Jesus, that’s hard for me to even think about. A long time ago. I would say maybe twenty years ago.

((Laura Hale)) Were you involved in creating a special chair, as Canadians were pushing the boundaries and creating the sport?

Duncan Campbell: To a degree. I think everybody was. Because you wanted the chair that fit you. Because they are all super designed to an individual. Because it allows you to push better, allows you to turn better. Allows you to use your chair in better ways on the court. Like you’ve noticed that the defensive chairs are lower and longer. That’s because the people that are usually in a defensive chair have a higher disability, which means they have less balance. So they sit lower, which means they can use their arms better, and longer so they can put screens out and set ticks for those high point players who are carrying the ball. It’s very much strategic.

((Hawkeye7)) I’d noticed that in wheelchair basketball the low point player actually gets more court time…

Duncan Campbell: …because that allows the high point player to play. And its the same in this game. Although in this game there’s two ways to go. You can go a high-low lineup, which is potentially two high point players and two very low point players, which is what Australia does right now with Ryley Batt and the new kid Chris Bond. They have two high point players, and two 0.5 point players. It makes a very interesting scenario for, say, the US, who use four mid-point players. In that situation, all four players can carry the ball; in the Australian situation, usually only two of them can carry the ball.

((Laura Hale)) Because we know you are going soon, the all-important question: can Canada beat the Australians tonight?

Duncan Campbell: Of course they are. (laughter)

((Laura Hale)) Because Australians love to gamble, what’s your line on Canada?

Duncan Campbell: It’s not a big line! I’m not putting a big line on it! (laughter) I’d say it’s probably 6–5.

((Hawkeye7)) Is your colour commentary for the Canadian broadcast?

Duncan Campbell: That was for the IPC. I did the GB–US game this morning. I do the Sweden–Australia game tomorrow at two. And then I’m doing the US–France game on the last day.

((Laura Hale)) Are you happy with the level of coverage the Canadians are providing your sport?

Duncan Campbell: No.

((Laura Hale)) Thank you for an honest answer.

Duncan Campbell: Paralympic Sports TV is their own entity. They webcast, but they’re not a Canadian entity. Our Canadian television is doing… can I swear?

((Laura Hale)) Yeah! Go ahead!

Duncan Campbell: No! (laughter) They’re only putting on an hour a day. A highlight package, which to me is…

((Hawkeye7)) It’s better than the US.

Duncan Campbell: Yes, I’ve heard it’s better than the US. At the same time, it’s crap. You have here [in Great Britain], they’ve got it on 18 hours a day, and it’s got good viewership. When are we going to learn in North America that viewership is out there for it? How many times do we have to demonstrate it? We had the Paralympics in Vancouver two years ago, the Winter Paralympics, and we had crappy coverage there. There was an actual outburst demand to put the opening ceremonies on TV because they weren’t going to do it. And they had to do it, because everybody complained. So they did it, but they only did it in BC, in our home province, where they were holding it. The closing ceremonies they broadcast nationally because the demand was so high. But they still haven’t changed their attitudes.

((Laura Hale)) I have one last question: what did it mean for you when they had a Canadian flag bearer who was a wheelchair rugby player?

Duncan Campbell: I recruited that guy. It was fantastic. I recruited him. Found him playing hockey. And that guy has put in so much time and effort into the game. He absolutely deserves it. No better player.

((Laura Hale)) Thank you!

((Hawkeye7)) Thank you! Much appreciated.

Monday, July 26, 2021

Floods in Henan province in central China have left at least 25 people dead, and about 200,000 people have been evacuated as of Wednesday, with soldiers leading rescue efforts. The flooding caused landslides and the provincial capital Zhengzhou’s metro system and roads were inundated with water.

Passengers of the Zhengzhou Metro posted videos of water up to their neck while clinging to handrails. At least twelve people were killed in the metro, with five more being injured, and more than 500 were rescued.

Among the dead were also four people in Gongyi who died from houses and walls collapsing, with more than 20,000 forced to leave their homes. Nine thousand hectares of crops were also damaged, causing US$11.3 million worth of damage.

There have been storms and torrential rain in Henan province since July 17. According to the National Meteorological Center of CMA, 622.7 mm (24.51 in) of rain fell in 24 hours, far surpassing the 24-hour threshold of 250 mm (9.84 in) considered extremely heavy rainfall. From Saturday to Tuesday, 617.1 mm (25.30 in) of rain fell in Zhengzhou, almost the equivalent of its annual average of 640.8 mm (25.23 in).

There are several reasons for the downpour. First, Typhoon In-fa is approaching Fujian province in southeast China, causing large amounts of water vapor to be pushed inland. Second, the Taihang and Funiu Mountains cause water vapor to converge and go up, causing large amounts of relief rain.

According to Zhang Ning, chief weather broadcaster of the Henan Meteorological Service, the torrential rain would continue until Wednesday night. From July 22 to July 26 there are forecasted dispersed thunderstorms, but no large amounts of precipitation.

Friday, August 10, 2007

Global stock markets fell today, in a mass sell-off stemming from the sub-prime mortgage crisis in the United States. The Dow Jones Industrial Average rebounded late in the day after falling more than 250 points, ending the day down about 31 points. The UK’s FTSE-100 index fell 232.90 points to 6038.30, and Japan’s Nikkei 225 fell 406.51 points to 16764.09.

Central banks across the world are injecting funds into their banking systems to add liquidity, fearing that many financial firms with subprime ties will be insolvent. Yesterday, the U.S. Federal Reserve transferred US$24 billion to temporary reserves, following the European Central Bank, which authorized a record €83.6 billion addition to its banks, its biggest cash infusion ever. On Friday, the Fed entered into a $38 billion repurchase agreement of mortgage-backed securities, easing stockholder worries. Also on Friday, the Bank of Japan injected ¥1 trillion into Japan’s financial system.

The Federal Reserve met this week, but decided to maintain its target rate of 5.25%, although on Friday the federal funds rate was hovering around 6%, indicating a drop in liquidity.

The volatile week began last Friday with Bear Stearns tumbling as a result from its complete loss of two major hedge funds worth more than $1.5 billion. The hedge funds had been dangerously exposed to the massive sub-prime mortgage failure, and the company announced it was unable to return any money to investors.

Washington Mutual, and Countrywide Financial, both very large U.S. home loan lenders, saw shares fall. Countrywide Financial made a statement this week, saying they will be forced to retain a greater proportion of mortgage. American Home Mortgage Investment Corp, another large lender, recently filed for bankruptcy. The U.S. housing market has been declining for more than two years after the Federal Reserve raised interest rates 17 times. Now, lenders are in a quagmire from millions of people who are unable to repay loans after taking adjustable rate mortgages, teaser rates, interest-only mortgages, or piggyback rates.

Jim Cramer, of CNBC’s Mad Money, remarked that as many as seven million people will lose their homes from bad mortgages. Last Friday, Cramer went on a tirade on CNBC’s Street Signs, saying that the “Fed was asleep” and called for them to lower rates immediately.

Asian and European markets have become increasingly entangled in the subprime mortgage crisis in the U.S. Deutsche Bank of Germany lost almost $3.5 billion in share value, forcing the government to organize a bail-out. France’s largest bank, BNP Paribas SA, halted withdrawals from three large investment funds which were crippled by sub-prime exposure.

Tuesday, August 6, 2013

Pakistani officials placed the capital, Islamabad, on red alert after they received information of possible terrorist attacks on Pakistan Air Force headquarters. Action was taken quickly, with Air Force and Navy helicopters seen above Islamabad shortly after the officials were notified.

“Current information suggests that Al-Qaeda and affiliated organisations continue to plan terrorist attacks both in the region and beyond, and they may focus efforts to conduct attacks in the period between now and the end of August,” a United States State Department statement said.

Pakistani security forces and policemen are maintaining high surveillance in the area as search operations are conducted.

“This thick security blanket has been laid over the capital to head off any untoward incident,” Senior Superintendent of Police Operations, Dr Rizwan told GEO News.

The threat of an attack remains high and searches continue after a number of suspects were detained as a result of an operation in Margallah Hills. The area remains under surveillance, with all inns, hotels, guesthouses, restaurants, Afghan refugee settlements and slums subject to scrutiny.

Warning has been spread to the U.S., where Americans have been urged to take extra precautions overseas. The State Department identified subways and rail networks as potential danger areas, because of their history in previous terrorist attacks. This information accompanies the red alerts placed on Europe, South Asia, Africa and the Middle East earlier this year.

Sunday, July 14, 2013

George Zimmerman, a Florida man charged with the shooting of seventeen-year-old Trayvon Martin, was found not guilty of second-degree murder late Saturday night following 16 hours of deliberation. The case has drawn national attention in the United States because of questions it raises over “stand your ground” self-defense laws.

Zimmerman shot Trayvon Martin on February 26, 2012. Prosecutors argued that Zimmerman, a neighborhood watch captain, had pursued Martin on the basis of race, as Martin walked through Zimmerman’s gated community on the way back from a convenience store. Zimmerman’s lawyers argued Martin attacked Zimmerman who then shot Martin in self-defense after Martin punched him and repeatedly slammed Zimmerman’s head against the sidewalk.

Following the decision to acquit, by a six member all-female jury, of both a second-degree murder and a manslaughter charge, Zimmerman’s lawyer said: “I think the prosecution of George Zimmerman was disgraceful”. On Twitter, Zimmerman’s brother Robert said the decision made him “proud to be an American”.

Tracy Martin, Trayvon’s father, posted on Twitter to say “Even though I am broken hearted my faith is unshattered”. Jahvaris Fulton, Trayvon Martin’s brother, posted “Et tu, America?”, alluding to the Shakespearean phrase “Et tu, Brute?”

The National Association for the Advancement of Colored People (NAACP) have launched a petition calling on the US government to bring federal civil rights charges against Zimmerman. NAACP president Benjamin Jealous stated, “We are outraged and heartbroken over today’s verdict. […] We will pursue civil rights charges with the Department of Justice, we will continue to fight for the removal of Stand Your Ground laws in every state, and we will not rest until racial profiling in all its forms is outlawed.”

Saturday, January 29, 2011

U.S. Prohibition Party presidential candidate Jim Hedges of Thompson Township, Pennsylvania took some time to answer a few questions about the Prohibition Party and his 2012 presidential campaign.

The Prohibition Party is the third oldest existing political party in the United States, having been established in 1869. It reached its height of popularity during the late 19th century. The party heavily supported the Eighteenth Amendment to the United States Constitution, which banned the sale of alcohol, and resulted in the US period known as Prohibition (1919–33). It was repealed in 1933. The party has declined since this period, but has continued to nominate candidates for the presidential election.

In 2003, the party split into two factions. Preacher Gene Amondson and perennial candidate Earl Dodge were nominated for the presidency by their respective factions. After Dodge’s death in 2007, the party reunified and named Amondson as its sole presidential nominee for 2008. During the election, Amondson was interviewed by Wikinews. He died in 2009, leaving an opening in the party for 2012.

Jim Hedges is a longtime Prohibition activist, who holds the distinction of the first individual of the 21st century (and the first since 1959) to be elected to a political office under the Prohibition Party banner. In 2001, he was elected as the Thompson Township tax assessor, and was re-elected to the post in 2005. He served until his term expired in 2010. Hedges declared his intent to run for the Prohibition Party presidential nomination on February 18, 2010. This marks his first run for the presidency.

Saturday, August 12, 2017

Yesterday, the state government of Victoria, Australia announced their decision to trial self-driving vehicles on two of the state’s major connecting motorways, the CityLink and Tullamarine Freeway. The trial is to use autonomous vehicles from automobile companies including BMW, Mercedes-Benz, Volvo, and Tesla. The two-year trial is to have three phases.

The cars are to drive alongside commuters, but in public testing a driver is always to be present, as Victorian law requires drivers always keep a hand on the steering wheel. However, in occasional closures of the Burnley Tunnel, with no other drivers to endanger, the cars are to be tested with nobody in the vehicle.

Lane assist, cruise control, and recognition of traffic signs are in the trial’s first phase, expected to complete before the end of the year. This includes monitoring how the driver-less cars respond to road conditions, including lane markings and electronic speed signs.

“Victoria is at the forefront of automated vehicle technology — we’re investing in this trial to explore ways that this technology can be used to reduce crashes and keep people safe on our roads”, said Luke Donnellan, the Victorian Minister for Roads and Road Safety. He noted, “Ninety per cent of the fault of accidents is human error […] so we know that if we can take out human error we will have less accidents”.

Tim Hansen, Victoria Police’s Acting Assistant Commissioner, said that police had founded a project team to investigate how self-driving vehicles would change policing on roads. “Can we intercept vehicles more safely to avoid pursuits and ramming?”, he asked.

The trial is a partnership between the state government, Victoria’s road management authority VicRoads, owner of the CityLink toll road Transurban, and insurance company RACV.

Friday, February 6, 2009

Denny’s 1,600 chain restaurants across North America, Puerto Rico and Canada, were slammed for eight hours Tuesday with hungry patrons standing on sidewalks for nearly two hours to take advantage of the $5.99 “Grand Slam Breakfast” giveaway.

Denny’s, a dining chain with annual revenue of about $900 million, has advertised in a TV commercial Sunday during the Super Bowl XLIII that it would give away its signature breakfast from 6 a.m. until 2 p.m. local time Tuesday, at all its restaurants in the U.S., Canada and Puerto Rico, while supplies lasted.

Denny’s Diner has promoted the iconic dish giveaway heavily, with a bold 30-second appeal ad that aired during the third quarter of the Super Bowl 43 on Sunday, plus another 15-second ad during the post-game show, offering a free breakfast to some 90 million viewers. In addition, it has placed a full-page ad in USA Today‘s Monday edition. The promotion was further announced on The Today Show and notices were also sent out to the chain’s “Denny’s Breakfast Club” members.

The NBC ad, which was bought to unveil a new promotion for customers squeezed by the recession, may have cost as much as $3 million, said Nelson Marchioli, CEO of Denny’s Corp. Super Bowl XLIII’s 30-second commercial time slot costs $2.4 million–$3 million for the airtime alone, excluding production and talent costs.

The game was televised live by the US NBC Sunday Night Football and Canada’s CTV Television Network. BayTSP has reported that, “as of 10 a.m. Wednesday, commercials that initially aired during NBC’s Super Bowl XLIII broadcast subsequently had been watched online more than 28 million times.”

“The promotion has a total cost of $5 million U.S., which includes $3 million for the commercial on NBC,” said a Denny’s spokesman, noting also that the company received about $50 million in news coverage, most of which was positive. According to a Denny’s representative, two million people walked through the restaurant chains’ doors Tuesday, and each Denny’s restaurant served an average of 130 Grand Slams per hour.

With the “Denny’s Feeds America” promotion, the company has reported 14 million hits on its Web site between Sunday night and Monday morning. Denny’s shares rose 6 cents, or 3.1 percent, to $1.98 in afternoon trading. The stock has traded in a range of $1.18 to $4.10 over the past 52 weeks.

“Denny’s free Grand Slam” has ranked in the top 10 Google searches early Tuesday and fell to No. 18 by the end of the promotion, while “denny s locations” was #9 on Google Trends, which tracks fast-rising searches. It has also held spots No. 1 (Denny’s) and 7 (Grand Slam) on Twitter‘s trending topics. It has generated much chat on Twitter, garnering 1,700 tweets on Tuesday, compared with its average of 59. Doritos, winner of the USA TODAY survey for best Super Bowl spot ad, had 933 mentions after reaching a peak of almost 3,300.

The idea of the TV ad was to get people to come in and re-evaluate Denny’s Diner. “A lot of people have forgotten what Denny’s is, or they think they know, while we’ve come out with a whole lot of new products. We felt like we needed to jump start the brand,” Denny’s Chief Marketing and Innovation Officer Mark Chmiel said.

“We’re celebrating the Grand Slam this year,” Chmiel said. According to the company’s financial data, on January 15 Denny’s reported systemwide comparable-store sales for the fourth quarter were down 6.1 percent, compared to a 0.2 percent decline from the same period in 2007.

According to Robert Gonzalez, public relations company Hill & Knowlton spokesman, Denny’s has expected at least 2 million people to eat a free Grand Slam by the end of the promotion. “Every restaurant is packed with people and lines,” Gonzalez said. “Everything today is about fast. People are on the go, and they’re eating fast food. It’s cutting into sit-down dining,” he added.

“Each of the more than 1,500 Denny’s were planning to make about 100 Grand Slams an hour,” Denny’s spokeswoman Cori Rice said. It had predicted it will have served about 1,400 people per location, more than five times the normal volume. “Grand Slam Breakfast” is a four-item option on its menu, consisting of two pancakes, two eggs, two strips of bacon and two sausage links. It weighs in at 44 grams of fat, 56 carbohydrates and 770 calories.

Nationwide, Denny’s expected to sell about 2 million Grand Slams — about 15 percent of the annual tally. According to Mark Chmiel, chief marketing operator and executive vice president, the diner chain has reported approximately 2 million meals worth more than $12 million were given away nationwide and each Denny’s restaurant served an average of 130 Grand Slams per hour. It estimated it has earned about $50 million worth of public relations following the free Grand Slam campaign, Chmiel said.

The company is also experimenting with a Grand Slam Burrito and also has introduced for this year, a Grand Slamwich, which includes eggs, bacon, sausage and cheese between two slices of bread, with a teaspoon serving. “It already has shown strong consumer appeal,” said Chmiel. The company has received flood of e-mails and letters proving the positive impact of the Grand Slam campaign and commercials on its customers.

Chmiel also announced he’s planning a third major promotion in this year’s third quarter, which happens to include another major sporting event, the World Series. “That’s one we’re definitely looking at,” he said.

Jobless Paris Winslow of downtown San Francisco, California has joined the long line which stretched from the front door on Mission Street, between Fourth and Fifth streets, to the corner of Fourth and up the block. “The economy is getting kind of scary. This line looks like those pictures of soup kitchen lines during the 1929 Great Depression,” Winslow said.

“I came all the way from San Francisco for a free $6 meal, Isn’t that pathetic? A year ago, I never would have done this. These days I’m willing to put my ego on the back burner,” said Stephen Weller, a jobless contractor who waited with his dog, Emmett. California Denny’s restaurant managers have issued rain checks (for free chilled meals, as security backed by actual bacon) to anyone who failed to get in by the 2 p.m. deadline.

A big eater could also “Slam It Up” by adding any two additional items for 99 cents each to their meal. Customers on Tuesday were also handed “bounceback” coupon books that include offers for additional free menu items with purchases. Chicago Tribune reporter Kevin Pang has eaten five free Grand Slams on Tuesday at five different Denny’s Diners in four hours. He claims to have consumed 4,100 calories at Harwood Heights, 5:36 a.m, at Schiller Park, 6:22 a.m., at Franklin Park, 7:08 a.m., at Melrose Park, 7:41 a.m. and at Grand Slam No. 5 Oak Park, 8:57 a.m.

“The Grand Slam has always been a Denny’s favorite. This free offer is our way of reacquainting America with Denny’s real breakfast and with the Denny’s brand,” Denny’s CEO Nelson Marchioli said in a statement. In 1977s, the Grand Slam started as a baseball-related promotion in Atlanta, Georgia. Its normal price averages around $5.99. Marchioli said the event was also a way to kick-off its “Year of the Grand Slam” promotion. Denny’s claimed it has sold 12.5 million Grand Slams a year.

“The economy’s tough and people are jumping all the way to fast food to try to figure it out. We all use fast food, whether it’s for time or convenience or for money. But you can go to Denny’s and you don’t have to give up a real breakfast and that was the whole focus of our commercial,” Marchioli explained. McDonald’s (MCD, Fortune 500) has done well during this economic meltdown since the global recession pushes people toward less expensive dining options.

McDonald’s has announced plans Wednesday to open 175 new restaurants in China this year despite the global economic crisis, thereby increasing the number of outlets in China by 17 percent, from 1,050 currently. Last month, McDonald’s 2008 net profit has risen 80 percent from 2007 to 4.3 billion dollars.

Marchioli has also introduced Denny’s $4 Weekday Express Slam, which is a streamlined version of the Grand Slam. “I want to take back share. For too long, we have allowed others to take share, whether it was Starbucks or McDonald’s. They’re fine competitors and I don’t expect to take all their business from them, but I’d like a little bit back,” Marchioli noted.

According to Rafi Mohammed, author of “The Art of Pricing,” people love free. “It triggers a Pavlovian response in people,” said Mohammed. If Pavlov’s dogs salivate when a bell rings, Denny’s free Grand Slam breakfast has attracted 2 million hungry customers. “I believe free maximizes trial and doesn’t devalue a product as long as it is a rare event. Aside from the cost, the major downside is that it attracts customers who truly have no intention of coming back,” he added.

According to University of Portland consumer psychology professor Deana Julka, people flock to free promotions amid just a few dollars saving because there’s nothing in life for free. “So when there’s something out there that costs nothing, it creates a psychological rush. Especially in these times when people feel overtaxed or overburden, there’s an internal reward people feel by getting something for free,” she said. “It’s being thrifty and feeling like you beat the system. Free really hits the spot for a lot of people,” Julka added.

“Free is an emotional hot button. When free is concerned, there is no downside – or, at least, we don’t see the downside immediately. So we overvalue everything that is free. People love free stuff, particularly when money’s tight,” said Dan Ariely, a business professor at Duke University, author of “Predictably Irrational: The Hidden Forces That Shape Our Decisions.”

Experts, however, explained these moves need to be done sparingly, since giveaways can teeter in the balance between desperation and a well designed marketing ploy. “Giving your product away for free is not worth it because it undermines your brand value,” said branding expert Rob Frankel, saying people are attached to the idea of it being free, than the actual product itself.

Free giveaways are not anything new in the food industry. “It just feels good when you can get something for free and not have to worry about it coming out of your wallet,” Frankel noted. Dunkin’ Donuts and Panera Bread all have had free coffee and food promos last year. “In November, Starbucks gave away free cup of coffee to anyone who came in on Election Day. Have you taken a look at how Starbucks is doing now?” Last week it has announced it would shut down 300 stores, in addition to the 600 it already planned to close.

On February 24, IHOP will be offering a free shortstack to every customer to encourage donations (in place of the cost) for Childrens Miracle Network. The International House of Pancakes (IHOP) is a United States-based restaurant chain that specializes in breakfast foods and is owned by DineEquity. The chain had more than 1950 restaurants in all 50 states, the U.S. Virgin Islands, Canada and Mexico. Since 2006, IHOP’s National Pancake Day celebration has raised over $1.85 million. In 2008, over 1.5 million pancakes (12 miles high if they were stacked) were given to customers for donations.

Denny’s (“Denny’s Diner”) is a full-service diner/family restaurant chain in the United States. It operates over 2,500 restaurants in the United States (including Puerto Rico), Canada, Curaçao, Costa Rica, El Salvador, Jamaica, Japan, Mexico, and New Zealand). The resto chain is known for always being open, serving breakfast, lunch, dinner, and dessert around the clock.

Today, Denny’s operates about 1,600 restaurants in all 50 U.S. states, Canada and Mexico. There are also about 578 Denny’s restaurants in Japan operated under a license by a subsidiary of Seven & I Holdings, seven Denny’s locations in New Zealand, and approximately 38 Denny’s diners in the United States. Denny’s headquarters is now located in Spartanburg, South Carolina, headquarters of the parent company Trans World Corporation that acquired Denny’s in 1987.

Denny’s was historically notable for offering a free meal to anyone on their birthday. The offer included a limited number of meal options from a special birthday menu. The promotional ritual ceased in 1993, though occasionally individual franchises will continue the tradition.

In 2008, Denny’s has ceased to be in the ranks among the top diner chains in the $83 billion breakfast market, whose top five firms — McDonald’s, Starbucks, Dunkin’ Donuts, Burger King and IHOP — accounted for 22 percent of the volume. “A lot of consumers have written Denny’s off their let’s-go-there list,” said Ron Paul, president of Technomic, a consulting firm.

Super Bowl XLIII was an American football game between the American Football Conference champion Pittsburgh Steelers (15–4) and the National Football Conference champion Arizona Cardinals (12–8) to decide the National Football League (NFL) champion for the 2008 NFL season. It was played on February 1, 2009, at Raymond James Stadiumin Tampa, Florida. It has an attendance of 70,774 and 98.7 million viewers. Pittsburgh earned its sixth Super Bowl win, thus securing sole possession of the record for most Super Bowl wins.

Monday, December 24, 2012

Two cars have been involved in a road traffic accident in the Scottish Lothian and Borders region, causing three fatalities and sending three to hospital. The incident occurred on the A68 road approximately 1.5 miles south of the Midlothian village of Pathhead when a Škoda Octavia and a Nissan Note travelling in opposite directions collided at approximately 0730 UTC today.

The Nissan, which was carrying five occupants, overturned and came to rest on its roof. Three male Buddhist monks who sat in the back of the car died at the site of the crash. The female driver of the vehicle managed to get out of the vehicle herself but another male passenger in the front of the car had to be cut free by fire service members. The two front-seat passengers as well as the male driver of the Škoda were hospitalised at the Royal Infirmary of Edinburgh, although none of their injuries are considered likely to be fatal.

“This is a tragic incident,” Inspector Simon Bradshaw of Lothian and Borders Police said, “and we are currently in the process of carrying out inquiries in order to establish the full circumstances of the collision.” The A68 road close to the location of the accident was temporarily closed to allow police to investigate the incident, with traffic redirected to the B6370 road via the town of Gorebridge. The road has since reopened.