Thursday, October 3, 2013

A review this week by Wikinews of US Consumer Financial Protection Bureau (CFPB) complaints about mortgages in the United States shows Bank of America leads all lending institutions in complaints.

Since mortgages complaints were recorded in December 2011, 77,622 total have been added to CFPB’s database. 29.2% of these complaints involved Bank of America, with the second most received by Wells Fargo, accounting for 15.5% of all complaints. JPMorgan Chase ranked third by volume of complaints with 9.8%. Ocwen was fourth with 8.7% and Citibank was fifth with 4.8%. Nationstar Mortgage; Green Tree Servicing, LLC; HSBC; PNC Bank; U.S. Bancorp; OneWest Bank; SunTrust Bank; Flagstar Bank; and Select Portfolio Servicing, Inc. each had between 1.0 and 3.8% of total complaints. The remaining 14.4% of all complaints about consumer mortgages were divided between about 530 other lending institutions.

The Motley Fool reported last month that for the past fiscal quarter, the biggest US based mortgage lenders were from first to fifth Wells Fargo, JPMorgan Chase, Bank of America, Quicken Loans and U.S. Bancorp.

According to the US Federal Reserve, debt for family residences stands at US$10.706 trillion for the second quarter of 2013. As of the end of June of this year, Bank of America is the United States’s second largest commercial bank with US$1.343 trillion in domestic assets. Wells Fargo is the fourth largest commercial bank with US$1.251 trillion in domestic assets. JPMorgan Chase is the largest US commercial bank with US$1.329 trillion in domestic assets and US$1.947 trillion in total assets.

The mortgage complaints in the CFPB report include several subproducts. Conventional fixed mortgages account for 27.1% of all complaints. Conventional adjustable mortgages account for 10.0%. FHA mortgages account for 7.7% of all complaints. Home equity loans or lines of credit account for 3.8% of all complaints. VA mortgages are 1.4% of all complaints. Second mortgages and reverse mortgages each account for 0.6% of complaints. The remaining 48.7% of complaints are about other mortgages or other mortgage issues. A few years ago, FHA loans accounted for about 10% of all US mortgages while VA loans accounted for about 3%. Prime loans accounted for over 75% of the market and the rest were subprime mortgages.

California leads all states by volume of complaints with 14768. It is followed by Florida, New York, Georgia and Texas. When complaints are divided by a state’s total population, New Hampshire leads. The state is followed by Washington D.C., Maryland, Georgia and Florida. Complaints do not correlate with national rankings for August’s foreclosure rate by state where Nevada topped the list, followed by Florida, Ohio, Maryland and Delaware.

Two zip codes account for over 1,000 total complaints between them. 565 complaints originated in the 48382 zip code, which is in Commerce Township, Michigan, located in suburban Detroit. 553 complaints originated in the 33071 zip code, in Coral Springs, Florida. According to real estate website Zillow, there are currently 1,033 properties in foreclosure in Coral Springs while Commerce Township only has 131 properties currently in foreclosure. Four other zip codes have 100 plus complaints originating from them. 91730, in Rancho Cucamonga, California, had 158 complaints. 33409, in West Palm Beach, Florida, had 132. 92626, in Costa Mesa, California, had 125 complaints. 92660, in Newport Beach, California, had 122 complaints. Respectively, the towns had 534, 1,068, 153, and 134 properties currently in foreclosure. These numbers are higher than for the cities of a few sampled zip codes where there was only one complaint, such as Gold Hill, Oregon which has 4 properties in foreclosure, and Decatur, Illinois which has 6 properties in foreclosure.

The CFPB categorizes complaints into six categories: “Loan modification, collection,foreclosure” or problems when a person is unable to pay; “Loan servicing, payments, escrow account” or problems with making a payment; “Application, originator, mortgage broker”; “Credit decision / Underwriting”; “Settlement process and costs”, and “Other”. The CFPB says the complaint types indicate consumers “appear to be driven by a desire to seek agreement with their companies on foreclosure alternatives. The complaints indicate that consumer confusion persists around the process and requirements for obtaining loan modifications and refinancing, especially regarding document submission timeframes, payment trial periods, allocation of payments, treatment of income in eligibility calculations, and credit bureau reporting during the evaluation period.” Currently, 59.6% of all complaints against lenders deal with being unable to pay. 25.1% deal with problems in making a payment. 7.0% have to do with the application process.

Of the complaint-heavy zip codes, for 48382 in Commerce Township, Michigan, 98.9% of all complaints have to deal with being unable to pay. Accounting for 23.4% of all mortgage complaints in Commerce Township, 132 of the complaints for being unable to pay were made regarding Bank of America, accounting for 97.8% or all but 3 complaints against them from the zip. 121 of the Bank of America responses in Commerce Township were closed with explanation and 12 were closed with non-monetary relief. 33071 in Coral Springs is different, with 537 of the 553 complaints being categorized under other. Only 11 complaints relate to foreclosure and issues with being able to pay. 92626 in Costa Mesa, where 32% of the mortgage complaints were about Bank of America and 26.4% were about Wells Fargo, had 93.6% of its complaints dealing with being unable to pay. 5 total complaints dealt with payment issues and 3 dealt with applications.

Beyond regional variance in complaint types lodged, the top five mortgage lenders by volume of complaints all had being unable to pay as their top complaint category, ranging between 55.8% for Citibank and 69.4% for Bank of America. Problems with payment accounted for the second largest area of complaints, with Ocwen having the largest percentage of complaints at 31.9% and Bank of America having the smallest at 18.8%. Foreclosure was the top area of complaints for a number of other lending institutions including 1st Alliance Lending, OneWest Bank, Ally Bank, Banco Popular de Puerto Rico, Bank of the West, BMO Harris, BOK Financial Corp, Caliber Home Loans, Inc, Capital One, Deutsche Bank and EverBank.

Nationally, complaints reached a high of 5,840 for January 2013, 1,107 more than the next highest month of April 2013. The total emerging for September is the second lowest since records were first kept in December 2011. On a state by state level, this pattern largely repeats with a major exception for Florida which saw a peak of 849 complaints in June 2012. Then, as now, Florida was one of the top five states in the nation in its foreclosure rate. The national January spike came as the Qualified Mortgage standard required by the The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 came into play. It required mortgage lenders to take steps to insure borrowers could repay their mortgages.

Bank of America’s complaint volume follows the national trend, with a spike in January 2013 with 1,925 total complaints. Unlike nationally, the next month by volume of complaints was February of this year with 1,598 complaints. Prior to that, the highest month was May 2012 with 1,418 complaints. The lowest volume of complaints is September this year with 334.

Wells Fargo matched national trends for volume of complaints by month, with the exception of the current month being the lowest on record for number of complaints with 197 compared to the next lowest month, December 2011, when they had 221. JPMorgan’s complaint volume by month spiked in January and March of this year with 504 complaints. April of this year was the next highest month with 493 complaints, edging out May of last year with 488 complaints. September this year is on track to be the lowest month by complaint volume.

The federal government shutdown is unlikely to impact the current mortgage situation in the United States directly for most consumers, though mortgage processing by the Federal Housing Administration could be slower, resulting in fewer mortgages processed.

Friday, May 5, 2006

Australian Prime Minister John Howard and federal industry minister Ian MacDonald today announced that the federal government would be providing Ford Australia with a AU$52.5 million (US$40.4 million) “financial assistance package”. Additional assistance will also be provided by the Victorian state government.

According to Mr Howard, the injection will secure Ford’s manufacturing operations in Australia “for the long term”.

From the package, AU$40 million will be used for the design and manufacture of Ford’s next model Falcon and Territory vehicles, which will be built in Australia.

Despite being given a major facelift in 2002 and another in 2005, the Falcon’s bodyshell dates back to 1998. The current Falcon will need to serve the company until at least 2007 when the new model is anticipated. In the meantime, it will face stiff competition from the completely new Holden Commodore (the Falcon’s major competitor) which will be released in the second half of this year.

The additional AU$12.5 million will be spent on the development of a light commercial vehicle platform, which will be built overseas and marketed to around 80 countries. Mr Howard said that the light commercial project would involve construction of a research and development centre, which will become the base for R&D projects in the region.

Mr MacFarlane said that the research facility was exciting for Australia and that it would put the Australian automotive in the spotlight.

“The funding has helped Ford Australia secure the largest automotive R&D project ever undertaken in Australia which is equally exciting news for local Ford employees and Australian component producers” he said.

“The project will see Ford Australia become a centre for automotive design and engineering excellence in the Asia Pacific region which will bring spin-off benefits for the broader industry,”

“This opportunity will put both Ford Australia, and the Australian automotive and components sectors on the world map as far as our automotive design and engineering capabilities are concerned.” Mr MacFarlane said.

Mr Howard claims that the projects will create 273 jobs and secure the future of the “iconic” Ford Falcon, which has been built in Australia since 1960.

The financial package is conditional upon Ford Australia giving the Australian automotive component industry an opportunity to supply components for the vehicles produced by the two projects.

Friday, July 29, 2011

Today sees the reopening of the National Museum of Scotland following a three-year renovation costing £47.4 million (US$ 77.3 million). Edinburgh’s Chambers Street was closed to traffic for the morning, with the 10am reopening by eleven-year-old Bryony Hare, who took her first steps in the museum, and won a competition organised by the local Evening News paper to be a VIP guest at the event. Prior to the opening, Wikinews toured the renovated museum, viewing the new galleries, and some of the 8,000 objects inside.

Dressed in Victorian attire, Scottish broadcaster Grant Stott acted as master of ceremonies over festivities starting shortly after 9am. The packed street cheered an animatronic Tyrannosaurus Rex created by Millenium FX; onlookers were entertained with a twenty-minute performance by the Mugenkyo Taiko Drummers on the steps of the museum; then, following Bryony Hare knocking three times on the original doors to ask that the museum be opened, the ceremony was heralded with a specially composed fanfare – played on a replica of the museum’s 2,000-year-old carnyx Celtic war-horn. During the fanfare, two abseilers unfurled white pennons down either side of the original entrance.

The completion of the opening to the public was marked with Chinese firecrackers, and fireworks, being set off on the museum roof. As the public crowded into the museum, the Mugenkyo Taiko Drummers resumed their performance; a street theatre group mingled with the large crowd, and the animatronic Tyrannosaurus Rex entertained the thinning crowd of onlookers in the centre of the street.

On Wednesday, the museum welcomed the world’s press for an in depth preview of the new visitor experience. Wikinews was represented by Brian McNeil, who is also Wikimedia UK’s interim liaison with Museum Galleries Scotland.

The new pavement-level Entrance Hall saw journalists mingle with curators. The director, Gordon Rintoul, introduced presentations by Gareth Hoskins and Ralph Applebaum, respective heads of the Architects and Building Design Team; and, the designers responsible for the rejuvenation of the museum.

Describing himself as a “local lad”, Hoskins reminisced about his grandfather regularly bringing him to the museum, and pushing all the buttons on the numerous interactive exhibits throughout the museum. Describing the nearly 150-year-old museum as having become “a little tired”, and a place “only visited on a rainy day”, he commented that many international visitors to Edinburgh did not realise that the building was a public space; explaining the focus was to improve access to the museum – hence the opening of street-level access – and, to “transform the complex”, focus on “opening up the building”, and “creating a number of new spaces […] that would improve facilities and really make this an experience for 21st century museum visitors”.

Hoskins explained that a “rabbit warren” of storage spaces were cleared out to provide street-level access to the museum; the floor in this “crypt-like” space being lowered by 1.5 metres to achieve this goal. Then Hoskins handed over to Applebaum, who expressed his delight to be present at the reopening.

Applebaum commented that one of his first encounters with the museum was seeing “struggling young mothers with two kids in strollers making their way up the steps”, expressing his pleasure at this being made a thing of the past. Applebaum explained that the Victorian age saw the opening of museums for public access, with the National Museum’s earlier incarnation being the “College Museum” – a “first window into this museum’s collection”.

The museum itself is physically connected to the University of Edinburgh’s old college via a bridge which allowed students to move between the two buildings.

Applebaum explained that the museum will, now redeveloped, be used as a social space, with gatherings held in the Grand Gallery, “turning the museum into a social convening space mixed with knowledge”. Continuing, he praised the collections, saying they are “cultural assets [… Scotland is] turning those into real cultural capital”, and the museum is, and museums in general are, providing a sense of “social pride”.

McNeil joined the yellow group on a guided tour round the museum with one of the staff. Climbing the stairs at the rear of the Entrance Hall, the foot of the Window on the World exhibit, the group gained a first chance to see the restored Grand Gallery. This space is flooded with light from the glass ceiling three floors above, supported by 40 cast-iron columns. As may disappoint some visitors, the fish ponds have been removed; these were not an original feature, but originally installed in the 1960s – supposedly to humidify the museum; and failing in this regard. But, several curators joked that they attracted attention as “the only thing that moved” in the museum.

The museum’s original architect was Captain Francis Fowke, also responsible for the design of London’s Royal Albert Hall; his design for the then-Industrial Museum apparently inspired by Joseph Paxton’s Crystal Palace.

The group moved from the Grand Gallery into the Discoveries Gallery to the south side of the museum. The old red staircase is gone, and the Millennium Clock stands to the right of a newly-installed escalator, giving easier access to the upper galleries than the original staircases at each end of the Grand Gallery. Two glass elevators have also been installed, flanking the opening into the Discoveries Gallery and, providing disabled access from top-to-bottom of the museum.

The National Museum of Scotland’s origins can be traced back to 1780 when the 11th Earl of Buchan, David Stuart Erskine, formed the Society of Antiquaries of Scotland; the Society being tasked with the collection and preservation of archaeological artefacts for Scotland. In 1858, control of this was passed to the government of the day and the National Museum of Antiquities of Scotland came into being. Items in the collection at that time were housed at various locations around the city.

On Wednesday, October 28, 1861, during a royal visit to Edinburgh by Queen Victoria, Prince-Consort Albert laid the foundation-stone for what was then intended to be the Industrial Museum. Nearly five years later, it was the second son of Victoria and Albert, Prince Alfred, the then-Duke of Edinburgh, who opened the building which was then known as the Scottish Museum of Science and Art. A full-page feature, published in the following Monday’s issue of The Scotsman covered the history leading up to the opening of the museum, those who had championed its establishment, the building of the collection which it was to house, and Edinburgh University’s donation of their Natural History collection to augment the exhibits put on public display.

Closed for a little over three years, today’s reopening of the museum is seen as the “centrepiece” of National Museums Scotland’s fifteen-year plan to dramatically improve accessibility and better present their collections. Sir Andrew Grossard, chair of the Board of Trustees, said: “The reopening of the National Museum of Scotland, on time and within budget is a tremendous achievement […] Our collections tell great stories about the world, how Scots saw that world, and the disproportionate impact they had upon it. The intellectual and collecting impact of the Scottish diaspora has been profound. It is an inspiring story which has captured the imagination of our many supporters who have helped us achieve our aspirations and to whom we are profoundly grateful.“

The extensive work, carried out with a view to expand publicly accessible space and display more of the museums collections, carried a £47.4 million pricetag. This was jointly funded with £16 million from the Scottish Government, and £17.8 million from the Heritage Lottery Fund. Further funds towards the work came from private sources and totalled £13.6 million. Subsequent development, as part of the longer-term £70 million “Masterplan”, is expected to be completed by 2020 and see an additional eleven galleries opened.

The funding by the Scottish Government can be seen as a ‘canny‘ investment; a report commissioned by National Museums Scotland, and produced by consultancy firm Biggar Economics, suggest the work carried out could be worth £58.1 million per year, compared with an estimated value to the economy of £48.8 prior to the 2008 closure. Visitor figures are expected to rise by over 20%; use of function facilities are predicted to increase, alongside other increases in local hospitality-sector spending.

Proudly commenting on the Scottish Government’s involvement Fiona Hyslop, Cabinet Secretary for Culture and External Affairs, described the reopening as, “one of the nation’s cultural highlights of 2011” and says the rejuvenated museum is, “[a] must-see attraction for local and international visitors alike“. Continuing to extol the museum’s virtues, Hyslop states that it “promotes the best of Scotland and our contributions to the world.“

So-far, the work carried out is estimated to have increased the public space within the museum complex by 50%. Street-level storage rooms, never before seen by the public, have been transformed into new exhibit space, and pavement-level access to the buildings provided which include a new set of visitor facilities. Architectural firm Gareth Hoskins have retained the original Grand Gallery – now the first floor of the museum – described as a “birdcage” structure and originally inspired by The Crystal Palace built in Hyde Park, London for the 1851 Great Exhibition.

The centrepiece in the Grand Gallery is the “Window on the World” exhibit, which stands around 20 metres tall and is currently one of the largest installations in any UK museum. This showcases numerous items from the museum’s collections, rising through four storeys in the centre of the museum. Alexander Hayward, the museums Keeper of Science and Technology, challenged attending journalists to imagine installing “teapots at thirty feet”.

The redeveloped museum includes the opening of sixteen brand new galleries. Housed within, are over 8,000 objects, only 20% of which have been previously seen.

The Window on the World rises through the four floors of the museum and contains over 800 objects. This includes a gyrocopter from the 1930s, the world’s largest scrimshaw – made from the jaws of a sperm whale which the University of Edinburgh requested for their collection, a number of Buddha figures, spearheads, antique tools, an old gramophone and record, a selection of old local signage, and a girder from the doomed Tay Bridge.

The arrangement of galleries around the Grand Gallery’s “birdcage” structure is organised into themes across multiple floors. The World Cultures Galleries allow visitors to explore the culture of the entire planet; Living Lands explains the ways in which our natural environment influences the way we live our lives, and the beliefs that grow out of the places we live – from the Arctic cold of North America to Australia’s deserts.

The adjacent Patterns of Life gallery shows objects ranging from the everyday, to the unusual from all over the world. The functions different objects serve at different periods in peoples’ lives are explored, and complement the contents of the Living Lands gallery.

Performance & Lives houses musical instruments from around the world, alongside masks and costumes; both rooted in long-established traditions and rituals, this displayed alongside contemporary items showing the interpretation of tradition by contemporary artists and instrument-creators.

The museum proudly bills the Facing the Sea gallery as the only one in the UK which is specifically based on the cultures of the South Pacific. It explores the rich diversity of the communities in the region, how the sea shapes the islanders’ lives – describing how their lives are shaped as much by the sea as the land.

Both the Facing the Sea and Performance & Lives galleries are on the second floor, next to the new exhibition shop and foyer which leads to one of the new exhibition galleries, expected to house the visiting Amazing Mummies exhibit in February, coming from Leiden in the Netherlands.

The Inspired by Nature, Artistic Legacies, and Traditions in Sculpture galleries take up most of the east side of the upper floor of the museum. The latter of these shows the sculptors from diverse cultures have, through history, explored the possibilities in expressing oneself using metal, wood, or stone. The Inspired by Nature gallery shows how many artists, including contemporary ones, draw their influence from the world around us – often commenting on our own human impact on that natural world.

Contrastingly, the Artistic Legacies gallery compares more traditional art and the work of modern artists. The displayed exhibits attempt to show how people, in creating specific art objects, attempt to illustrate the human spirit, the cultures they are familiar with, and the imaginative input of the objects’ creators.

The easternmost side of the museum, adjacent to Edinburgh University’s Old College, will bring back memories for many regular visitors to the museum; but, with an extensive array of new items. The museum’s dedicated taxidermy staff have produced a wide variety of fresh examples from the natural world.

At ground level, the Animal World and Wildlife Panorama’s most imposing exhibit is probably the lifesize reproduction of a Tyrannosaurus Rex skeleton. This rubs shoulders with other examples from around the world, including one of a pair of elephants. The on-display elephant could not be removed whilst renovation work was underway, and lurked in a corner of the gallery as work went on around it.

Above, in the Animal Senses gallery, are examples of how we experience the world through our senses, and contrasting examples of wildly differing senses, or extremes of such, present in the natural world. This gallery also has giant screens, suspended in the free space, which show footage ranging from the most tranquil and peaceful life in the sea to the tooth-and-claw bloody savagery of nature.

The Survival gallery gives visitors a look into the ever-ongoing nature of evolution; the causes of some species dying out while others thrive, and the ability of any species to adapt as a method of avoiding extinction.

Earth in Space puts our place in the universe in perspective. Housing Europe’s oldest surviving Astrolabe, dating from the eleventh century, this gallery gives an opportunity to see the technology invented to allow us to look into the big questions about what lies beyond Earth, and probe the origins of the universe and life.

In contrast, the Restless Earth gallery shows examples of the rocks and minerals formed through geological processes here on earth. The continual processes of the planet are explored alongside their impact on human life. An impressive collection of geological specimens are complemented with educational multimedia presentations.

Beyond working on new galleries, and the main redevelopment, the transformation team have revamped galleries that will be familiar to regular past visitors to the museum.

Formerly known as the Ivy Wu Gallery of East Asian Art, the Looking East gallery showcases National Museums Scotland’s extensive collection of Korean, Chinese, and Japanese material. The gallery’s creation was originally sponsored by Sir Gordon Wu, and named after his wife Ivy. It contains items from the last dynasty, the Manchu, and examples of traditional ceramic work. Japan is represented through artefacts from ordinary people’s lives, expositions on the role of the Samurai, and early trade with the West. Korean objects also show the country’s ceramic work, clothing, and traditional accessories used, and worn, by the indigenous people.

The Ancient Egypt gallery has always been a favourite of visitors to the museum. A great many of the exhibits in this space were returned to Scotland from late 19th century excavations; and, are arranged to take visitors through the rituals, and objects associated with, life, death, and the afterlife, as viewed from an Egyptian perspective.

The Art and Industry and European Styles galleries, respectively, show how designs are arrived at and turned into manufactured objects, and the evolution of European style – financed and sponsored by a wide range of artists and patrons. A large number of the objects on display, often purchased or commissioned, by Scots, are now on display for the first time ever.

Shaping our World encourages visitors to take a fresh look at technological objects developed over the last 200 years, many of which are so integrated into our lives that they are taken for granted. Radio, transportation, and modern medicines are covered, with a retrospective on the people who developed many of the items we rely on daily.

What was known as the Museum of Scotland, a modern addition to the classical Victorian-era museum, is now known as the Scottish Galleries following the renovation of the main building.

This dedicated newer wing to the now-integrated National Museum of Scotland covers the history of Scotland from a time before there were people living in the country. The geological timescale is covered in the Beginnings gallery, showing continents arranging themselves into what people today see as familiar outlines on modern-day maps.

Just next door, the history of the earliest occupants of Scotland are on display; hunters and gatherers from around 4,000 B.C give way to farmers in the Early People exhibits.

The Kingdom of the Scots follows Scotland becoming a recognisable nation, and a kingdom ruled over by the Stewart dynasty. Moving closer to modern-times, the Scotland Transformed gallery looks at the country’s history post-union in 1707.

Industry and Empire showcases Scotland’s significant place in the world as a source of heavy engineering work in the form of rail engineering and shipbuilding – key components in the building of the British Empire. Naturally, whisky was another globally-recognised export introduced to the world during empire-building.

Lastly, Scotland: A Changing Nation collects less-tangible items, including personal accounts, from the country’s journey through the 20th century; the social history of Scots, and progress towards being a multicultural nation, is explored through heavy use of multimedia exhibits.

Sunday, May 2, 2010

As reports came out yesterday that the oil spill caused by the explosion and sinking of an oil rig in Gulf of Mexico near Louisiana had reached the coast, the Obama administration announced a ban on all future offshore drilling at least until the investigation into the incident is completed.

Early Friday morning, the US Coast Guard received reports that oil from the spill had washed ashore, and while officials have not confirmed the reports, winds continue to push the slick northward towards land, and conditions are deteriorating, making cleanup of the spill increasingly difficult. The Coast Guard said it was planning to conduct a flyover of the slick to determine its extent sometime on Friday. According to the National Weather Service, strong winds and thunderstorms are predicted to continue through the weekend, hindering cleanup efforts.

Also early on Friday morning, a senior government official, White House advisor David Axelrod, said that the government was immediately banning all new offshore drilling until the investigation into the spill had been completed. His announcement came just after a month the administration relaxed restrictions of offshore drilling.

The operation to clean up the spill has accelerated in recent days, with the US Navy having joined the effort, as well as resources from the Coast Guard and British Petroleum (BP), the lessor of the rig at the time of the explosion. The total assets deployed in the operation are estimated to be around 1,900 people and more than 300 ships and aircraft. Additionally, six remotely operated submarines are trying to stem the leaks, which now number three, at the ocean’s floor.

On Wednesday, the estimated amount of oil spilling from the damaged well was raised to 5,000 barrels, or around 210,000 gallons, a day, five times the original estimate of 1,000 barrels a day. This figure was later revised upwards again to 25,000 barrels (1.05 million gallons) per day. So far, the cleanup operation has laid around 210,000 feet of containment booms to protect vulnerable wildlife refuges on the Gulf Coast, and an additional 66,000 feet of boom has been provided by the US Navy. Since the beginning of the operation, more than 18,000 gallons of an oil/water mix have been recovered from the ocean, and after a successful test burn of oil, plans are being made to scale the burns up. According to a BP official, “We believe we can now scale that up and burn between 500 and 1,000 barrels at a time.” The first test burned around 100 barrels of oil.

Despite the efforts, many are still worried about the potential consequences of the spill, and officials said that the damage could end up being more than that caused by the Exxon Valdez oil spill 20 years ago, which spilled 11 million gallons of oil into Alaska’s Prince William Sound. One analyst said that he expected “that movement is going to continue to stress and fatigue the pipe and create more leaks,” adding that “this is not on a good trajectory.”

BP has developed two options to stop the flow of oil at the source, but both are expected to take at least weeks to complete. The first option is to lower large structures over the leak, which would allow the oil to be safely transported to the surface. BP is building one such structure, but it isn’t expected to be completed for at least several weeks. The second option is to drill a second well which would then plug the leak at the source. A well for this purpose will begin to be drilled within two days, although it could be up to three months before the leak is completely plugged.

Friday, September 14, 2007

The Kennedy Center announced that its 30th presentation of the Kennedy Center Honors would go to pianist Leon Fleisher, comedian Steve Martin, singer Diana Ross, director Martin Scorsese and musician Brian Wilson. The Center was opened to the public in 1971 and was envisioned as part of the National Cultural Center Act, which mandated that the independent, privately-funded institution would present a wide variety of both classical and contemporary performances, commission the creation of new artistic works, and undertake a variety of educational missions to increase awareness of the arts.

In a statement, Kennedy Center Chairman Stephen A. Schwarzman said that “with their extraordinary talent, creativity and perseverance, the five 2007 honorees have transformed the way we, as Americans, see, hear and feel the performing arts.”

Fleisher, 79, a member of the Peabody Institute‘s music faculty, is a pianist who lost use of his right hand in 1965 due to a neurological condition. He became an accomplished musician and conductor through the use of his left hand. At 67, he regained the use of his right hand. With the advent of Botox therapy, he was once more able to undertake two-hand performances in 2004, his first in four decades. “I’m very gratified by the fact that it’s an apolitical honor,” Fleisher said. “It is given by colleagues and professional people who are aware of what [an artist] has done, so it really is apolitical — and that much more of an honor.”

Martin, 62, a comedian who has written books and essays in addition to his acting and stand-up comedy career, rose to fame during his work on the American television program Saturday Night Live in the 1970’s. Schwarzman praised his work as that of a “renaissance comic whose talents wipe out the boundaries between artistic disciplines.” Martin responded to the honor saying, “I am grateful to the Kennedy Center for finally alleviating in me years of covetousness and trophy envy.”

Ross, 63, was a product of Detroit‘s Brewster-Douglass Projects when as a teeager she and friends Mary Wilson and Florence Ballardis formed The Supremes, a ground-breaking Motown act. She portrayed singer Billie Holiday in the 1972 film Lady Sings the Blues, which earned her an Oscar nomination and a Golden Globe award. “Diana Ross’ singular, instantly recognizable voice has spread romance and joy throughout the world,” said Schwarzman. Ross said she was “taken aback. It is a huge, huge honor and I am excited to be in this class of people.”

Scorsese, 64, is one of the most accomplished directors the United States ever produced, whose work includes Mean Streets, Taxi Driver, GoodFellas, Cape Fear, The Last Temptation of Christ and The Departed, for which he won a 2006 Academy Award for Best Director after being nominated eight times. Scorsese said, “I’m very honored to be receiving this recognition from the Kennedy Center and proud to be joining the company of the very distinguished individuals who have received this honor in years past.”

Wilson, 65, along with his brothers Dennis and Carl, formed the Beach Boys in 1961. They had a series of hits that included “Surfin’ U.S.A.” and “Wouldn’t It Be Nice.” Their 1966 album Pet Sounds is considered one of the most influential recordings in American music. “This is something so unexpected and I feel extremely fortunate to be in the company of such great artists,” said Wilson, who is currently on tour.

The Kennedy Center’s board of trustees is responsible for selecting honorees for “lifetime contributions to American culture through the performing arts.” Previous honorees, including Elton John and Steven Spielberg, also submitted recommendations. A wide variety of people were under consideration, including Emanuel Ax, Evgeny Kissin, Renee Fleming, Laurence Fishburne, Francis Ford Coppola, Melissa Etheridge and Kenny Chesney.

President Bush and first lady Laura Bush will attend the center’s presentation at its opera house on December 2, 2007, which will broadcast on December 26 on CBS.