the world as we write it

smiley status'

    eat my Twitter?

    The Black Rider

    authentic since 1981 'welcome to my bomboclot mind'

    Tuesday, August 9, 2011

    Reuter site - Wall Street roars back in wild trade after Fed meet

    This article was sent to you from bombastic4000@yahoo.com, who uses Reuters Mobile Site to get news and information on the go. To access Reuters on your mobile phone, go to:
    http://mobile.reuters.com/article/topNews/idUSTRE7771O020110809

    Wall Street roars back in wild trade after Fed meet

    Tue, Aug 09 19:04 PM EDT

    By Rodrigo Campos

    NEW YORK (Reuters) - Stocks rallied on Tuesday in a volatile session as investors struggled to decipher the Fed's signals on the economy after a dizzying two-week slide.

    Buying accelerated into the close and the S&P 500 posted its best day in more than two years, following a drop of nearly 17 percent over the past weeks.

    The market reversed direction six times after a Fed statement that pledged two more years of near-zero interest rates.

    Bank shares roared back from recent losses with the KBW capital markets index up 6.7 percent.

    "The last three or four weeks, the stock market has really discounted a mild recession," said Mohannad Aama, managing director at Beam Capital Management LLC in New York.

    "Now after the Fed announcement, the market has to start factoring in what the response from the Fed and the government will be. There is still a small chance for a fiscal stimulus aimed at job creation. The FOMC statement today was positive for equities."

    The Dow Jones industrial average gained 429.92 points, or 3.98 percent, to end at 11,239.77. The Standard & Poor's 500 Index rose 53.07 points, or 4.74 percent, to 1,172.53. The Nasdaq Composite Index added 124.83 points, or 5.29 percent, to 2,482.52.

    About 16.4 billion shares traded on the New York Stock Exchange, NYSE Amex and Nasdaq -- more than twice the daily average so far this year of 7.75 billion.

    Advancing stocks outnumbered declining ones on the NYSE by a ratio of almost 12 to 1, while on the Nasdaq, almost five stocks rose for every one that fell.

    The three major U.S. stock indexes, though, are still in negative territory for the year, in spite of Tuesday's strong rally.

    At its session low after the Fed statement, the S&P 500 came within a few points of entering a bear market -- or a 20 percent decline from its recent closing high set on April 29.

    According to a Reuters poll, the United States faces one-in-four odds of slipping back into recession, though the economic outlook was seen as raising the likelihood of new Fed action.

    Even some investors hoping for action from the Fed acknowledged the central bank's options appear to be limited because the current crisis is not liquidity-driven, as it was in 2008.

    Equities suffered a massive drop on Monday, the first session since the United States lost its top-tier triple-A credit rating from Standard & Poor's. As a result of Monday's huge sell-off, the S&P 500 posted its worst one-day percentage loss since December 2008.

    (Additional reporting by Chuck Mikolajczak; Editing by Jan Paschal)

    Monday, August 8, 2011

    Think it's a game? (Kevin Hart voice)

    Sent via BlackBerry by AT&T

    Don't step into the tenement yard...

    Sent via BlackBerry by AT&T

    I'm from a city brainwashed by London

    Sent via BlackBerry by AT&T

    Reuter site - British riots spread on third night of violence

    This article was sent to you from bombastic4000@yahoo.com, who uses Reuters Mobile Site to get news and information on the go. To access Reuters on your mobile phone, go to:
    http://mobile.reuters.com/article/worldNews/idUSTRE7760G820110809

    British riots spread on third night of violence

    Mon, Aug 08 22:07 PM EDT

    By Stefano Ambrogi and Mohammad Abbas

    LONDON (Reuters) - Rioting and looting spread across London on Monday as hooded youths set buildings and cars ablaze, smashed shop windows and hurled bottles and stones at police in a third night of violence in Britain's worst unrest in decades.

    Prime Minister David Cameron cut short his holiday to fly home to tackle the violence, which appeared to be led by youths alienated by years of underemployment which left them feeling marginalized even before the economic downturn.

    "It's been building up for years. All it needed was a spark," said E. Nan, a young man in a baseball cap surrounded by other youths in Hackney in east London. "We ain't got no jobs, no money ... We heard that other people were getting things for free, so why not us?"

    The violence erupted late on Saturday in London's northern Tottenham district when a peaceful protest over the police shooting of a suspect two days earlier turned violent.

    By Monday, the violence had spread to parts of the south of the city, including Clapham Junction, one of London's busiest railway junctions, Woolwich in the capital's southeast and the Ealing area of west London.

    Attackers also smashed shops and looted property in the city of Birmingham in central England, police said, in the first sign of the riots spreading beyond the capital.

    In Hackney, a multi-ethnic area in east London close to the site of next year's Olympic Games, hooded youths set fire to rubbish bins and pushed them down a street toward police, while hurling bottles and bricks.

    Many laughed as they ran back when police charged them.

    In a street thick with smoke, looters smashed their way into a local shop, stealing whisky and beer. One man grabbed a packet of cereal, another ran off laughing with four bottles of whisky.

    "I am from South Africa and it reminds me of the riots there, except the police here are not so rough," said one middle-aged local resident, who declined to give his name.

    "But the kids don't have any respect for the police or for property. It's sad for the people who live round here."

    In Peckham, a poor area of south London, flames leapt into the air from a torched building and rubble was strewn across the street.

    A Reuters witness saw two people breaking into a shop and ripping a 50-inch plasma television off the wall. A youth in a balaclava carried the screen away and received a round of applause from the watching crowd.

    Cameron's office said he would cut short his holiday in Italy to chair a crisis meeting, amid growing calls from the public for officials to take control of the situation.

    Even before Monday night's violence, police had arrested 215 people, according to Home Secretary Theresa May.

    "The violence we've seen, the looting we've seen, the thuggery we've seen, this is sheer criminality ... these people will be brought to justice, they will be made to face the consequences of their actions," she said.

    "SENSELESS"

    Despite a heavy presence on some streets, police appeared unable to contain the violence as rioters who had initially coordinated through mobile phones and Twitter became increasingly confident.

    Monday's looting began long before nightfall when workers were returning home, many of them forced to walk as buses to areas hit by rioting were canceled.

    In Hackney, youths in brown hoods posed for pictures in front of a burning car on a street corner. Others swarmed around a skip full of bricks and gathered them up.

    "I don't know why they are doing this," said a middle-aged woman who lived nearby. "It's senseless ... they are just cacking on their own doorstep."

    The BBC said the Hackney clashes broke out after police stopped and searched a man.

    In Clapham, another Reuters witness saw dozens of youths walking in all directions with looted television sets and other electrical goods. He heard two of them discussing the number of Playstation 3s they had stolen, and shouting at another young man to return and get more.

    Looters hid their stolen goods in bins and behind the low walls of the Victorian terraced houses typical of Clapham. A large pile of boxed Blackberry phones rested by one wall.

    Government officials branded rioters as opportunistic criminals and said the violence would not affect preparations for next summer's Olympic Games.

    But the television pictures of rioting and blazing buildings, combined with disarray in the transport network, were likely to dent the capital's image as Britain struggles to avoid an economic recession.

    Youths appeared to have used a free message service on Blackberry mobile phones to coordinate attacks on shops and police.

    Research In Motion, the Canadian manufacturer of Blackberry smartphones, said it would work with British authorities, but gave no details on what information, if any, it would give the police.

    Some have described the disturbances as a cry for help from poor areas reeling from the government's harsh austerity cuts to tackle a big budget deficit, with youth services and other facilities cut back sharply.

    "It's very sad to see ... But kids have got no work, no future and the cuts have made it worse. These kids are from another generation to us and they just don't care," said Anthony Burns, 39, an electrician from Hackney. "You watch. It's only just begun."

    Officials said there was no excuse.

    "It was needless, opportunistic theft and violence, nothing more, nothing less. It is completely unacceptable," said Deputy Prime Minister Nick Clegg.

    (Additional reporting by Adrian Croft, Mohammed Abbas, Matt Falloon, Avril Ormsby and Jon Hemming; Writing by Myra MacDonald, editing by Tim Pearce)

    Banquet of Consequences.

    Sent via BlackBerry by AT&T

    Reuter site - Wall Street dives after S&P downgrade

    This article was sent to you from bombastic4000@yahoo.com, who uses Reuters Mobile Site to get news and information on the go. To access Reuters on your mobile phone, go to:
    http://mobile.reuters.com/article/topNews/idUSTRE7771O020110808

    Wall Street dives after S&P downgrade

    Mon, Aug 08 09:54 AM EDT

    By Edward Krudy

    NEW YORK (Reuters) - Stocks tumbled on Monday, tracking a sharp drop in global equity markets after rating agency Standard & Poor's cut the top-tier AAA credit rating of the United States, rattling already-jittery investors.

    The technology heavy Nasdaq fell more than 3 percent at the open.

    Market sectors most sensitive to the economy, such as the banking and natural-resource sectors, took the brunt of selling. United States Steel Corp fell 6.2 percent to $31.18, while Citigroup Inc dropped 5 percent to $31.83.

    S&P cut the U.S. long-term credit rating by a notch to AA-plus late Friday on concerns about debt in the world's largest economy. The downgrade could eventually raise borrowing costs for the U.S. government, companies, as well as consumers.

    The move came after a wild week for Wall Street -- its worst in more than two years -- as lingering concerns about sluggish economic growth and fears of a financial meltdown in the euro zone hit sentiment.

    Even the European Central Bank's dramatic intervention in bond markets, which pushed down yields on Spanish and Italian bonds, was not enough to stem selling.

    "What's concerning us and holding us back from buying what we think is value is that the ferocity of the momentum of the downside is still quite strong," said Paul Zemsky, head of asset allocation at ING in New York

    The Dow Jones industrial average dropped 215.55 points, or 1.88 percent, to 11,229.06. The Standard & Poor's 500 Index fell 27.71 points, or 2.31 percent, to 1,171.67. The Nasdaq Composite Index lost 58.30 points, or 2.30 percent, to 2,474.11.

    The New York Stock Exchange invoked a special regulation known as Rule 48 to smooth trading at the market open.

    MSCI's all-country world stock index dropped 2.5 percent and hit its lowest since September 2010.

    Safe-haven assets were in demand. Gold vaulted above $1,700 an ounce for the first time on Monday and hit a record $1,715.01.

    Last week's steep drop in equities wiped about $2.5 trillion off global market valuations. The S&P 500 has fallen over 12 percent since the end of April, with much of that selling coming on heavy volume last week. Prior to Monday, the index had retreated 11 percent in the last 11 sessions.

    Analysts said the S&P 500 index could test Friday's intraday low of 1,168.09. Some traders are looking for a pullback to the 32.8 percent retracement of the rally from the index's bear market low on March 2009. That level is around 1,100.

    ING's Zemsky said he was looking for support at 1,130, the level of a stock market breakout in September 2010, but warned that fast moving markets can quickly fall through support points.

    (Editing by Jeffrey Benkoe; editing by Jeffrey Benkoe)

    Sunday, August 7, 2011

    Reuter site - Hackers don't need movie magic to wreak havoc

    This article was sent to you from bombastic4000@yahoo.com, who uses Reuters Mobile Site to get news and information on the go. To access Reuters on your mobile phone, go to:
    http://mobile.reuters.com/article/internetNews/idUSTRE77600J20110807

    Hackers don't need movie magic to wreak havoc

    Sat, Aug 06 20:10 PM EDT

    By Jim Finkle

    LAS VEGAS (Reuters) - Evil hackers with state-of-the-art computers gain remote control of a power plant and blow it up, killing many people and threatening more mayhem if a huge ransom is not paid.

    It's a storyline straight out of a Hollywood action movie but those attending two of the world's biggest hacking conferences this week learned that such a scenario is not as outlandish as one might think.

    Some of the most alarming research released at the Black Hat and Defcon conferences in Las Vegas reveal vulnerabilities in aging computer systems that run power plants, chemical factories, water distribution systems and other industrial facilities around the globe.

    Boutique research firm NSS Labs uncovered a "back door" in industrial control systems from Germany's Siemens AG that could allow hackers to wreak havoc on nuclear power plants, oil and gas pipelines, water treatment systems, pharmaceuticals factories and other critical infrastructure.

    The "back door" is an undocumented access point that lets someone remotely break into the system using widely available "telnet" communications software and a six-character password that is the same on all Siemens systems and cannot be changed.

    "You get full control," said NSS Labs Chief Executive Rick Moy. "Things could go boom. Pipelines could explode if the pressure isn't monitored properly. Hazardous chemicals and fluids could leak out."

    Siemens spokesman Alexander Machowetz said the company was looking into the matter. "We are not aware of any real case of a hacker taking influence on a controller in one of our customer's facilities," he said.

    The new research from NSS comes after the firm disclosed another security flaw to Siemens in May, which the German company said it addressed with a software update.

    Last summer, researchers discovered the Stuxnet virus, a computer worm designed to attack the Siemens' industrial control systems that operate complicated factory machinery, known as Supervisory Control and Data Acquisition.

    Stuxnet was used to attack a nuclear enrichment facility in Iran in a blow to the country's nuclear program. Some experts have described Stuxnet as a "guided cyber missile" aimed at Iran's atomic program.

    EASY PREY

    Many industrial plants were built decades ago and then later hooked up to the Internet to make them more efficient. In the rush to embrace the Web, engineers left holes in their systems that hackers have started to exploit.

    "They stayed away from the security community. They wanted to do it themselves. Now they are wide open," said Rick Howard, general manager of VeriSign Inc's iDefense division and one of the researchers speaking at Defcon on securing critical infrastructure.

    Security experts from government agencies and big corporations attend the Black Hat and Defcon conferences every year, crowding into sessions alongside hackers, many of whom use their skills to promote security and fight cyber crime.

    At meetings that run through Sunday, they talked about headline-grabbing attacks, such as the massive cyber espionage campaign disclosed by Intel's McAfee security software unit, in which 72 organizations around the world were infiltrated.

    Howard gave a presentation on Saturday on Stuxnet, the first piece of malicious software to surface that was designed to attack an industrial control system.

    The U.S. Department of Homeland Security warned Congress last month that hackers likely are adapting the code in Stuxnet to build new weapons that could launch attacks on industrial control systems anywhere in the world.

    Jerome Radcliffe, an expert on Stuxnet, said many of the passwords in such systems are hard-coded into the devices, meaning they cannot be changed. That makes makes them easy prey.

    A diabetic, Radcliffe relies on a computer to measure his blood-sugar levels and dose him with insulin as needed. He hacked into that system and figured out a way to send it erroneous dosing instructions or order it to shut down.

    He said hackers could use a similar approach to attack machines used to distribute water to millions of home.

    "My insulin pump is a good human story," Radcliffe said. "It's a one-person deal. But if I could shut off the water for an entire city, that's a disaster."

    JAILBREAKING

    Three other hackers say they worked out how to remotely open and close prison-cell doors. These systems are controlled by the same type of computers as many industrial control systems, known as PLCs, or programmable logic controllers.

    The independent hackers conducted their research after spending just $500 to buy a used PLC on eBay and $2,000 for software from its manufacturer, Siemens. They identified security holes and discovered how to take advantage of them to launch an attack.

    So far the hackers -- a father-daughter pair and their friend -- have not tested their theories on a real prison but toured one facility, which they declined to identify.

    They said they saw a prison guard using the computer that controls the PLC to check his Google email, which could potentially give hackers a path to launch an attack.

    "This is a real threat. It's not something theoretical," said one of the hackers, Tiffany Rad.

    (Reporting by Jim Finkle; Editing by Tiffany Wu and Bill Trott)

    Reuter site - Verizon unions strike after contract talks fail

    This article was sent to you from bombastic4000@yahoo.com, who uses Reuters Mobile Site to get news and information on the go. To access Reuters on your mobile phone, go to:
    http://mobile.reuters.com/article/technologyNews/idUSTRE77622920110807

    Verizon unions strike after contract talks fail

    Sun, Aug 07 16:33 PM EDT

    By Roy Strom, Sinead Carew and Dhanya Skariachan

    NEW YORK (Reuters) - Almost half the workers in Verizon Communications wireline telecommunications business went on strike on Sunday as negotiations for a new labor contract failed.

    The strike, involving 45,000 workers, is the first walk-out that Verizon, one of the two big U.S. telephone network operators, has faced since 2000, when about 80,000 workers went on strike for about three weeks.

    Verizon and two unions -- The Communications Workers of America and the International Brotherhood of Electrical Workers -- had been in talks since late June but were still far apart when their contract expired Saturday night.

    The workers who went on strike are technicians and customer support employees in the wireline unit, which provides traditional phone services to homes and businesses in the Northeast as well as high-speed Internet and FiOS television service.

    The two sides were unable to agree on issues related to healthcare contributions, pension plans and work rules, according to Verizon and the CWA.

    Verizon is looking to keep costs in check at its wireline business, which has been declining for a decade as customers have disconnected their home phones in favor of cellphone and Internet services.

    A representative for the CWA, which represents about 35,000 of the workers, said that bargaining talks were expected to resume on Sunday while employees were told to start picketing as early as 6 a.m. EDT outside their work locations.

    "A strike is a hardship for all and not to be undertaken lightly," Jim Spellane, an IBEW spokesman said in an e-mail.

    "I think that the fact that we are on strike instead of finalizing an agreement is a testimony to Verizon's intransigence throughout the process," Spellane said.

    Michael Paleski, 45, who has worked for Verizon for 23 years, was one among the roughly 250 people gathered in front of Verizon's Manhattan corporate headquarters, where workers walked in and out of the building to chants of, "Scab! scab! scab!" on megaphones.

    The strikers were all dressed in red and had signs that read, "CWA workers on strike for middle-class jobs."

    "Nobody here wants a strike. I'm sure nobody on the other side wants a strike either. But we're also very disappointed that the company put forward so many demands for givebacks. We feel that's really the sticking point for us," Paleski said.

    "I have two children. I have a wife, a house and two cars. And things are not cheap these days, they're getting more expensive for us. And that's why we need to have the right contract structure."

    On Monday morning, thousands of striking workers will join mass picket lines and rallies at over 100 Verizon work locations across New York and New Jersey to pressure the company to back off its demands, said the CWA.

    VERIZON'S BACK-UP PLAN

    "As of now, talks are not taking place today. We're always willing to talk. We're willing to return to the bargaining table at any time," Verizon spokesman Richard Young said in an email on Sunday afternoon.

    "We're in the process of implementing our emergency action plans," Young added.

    Verizon said late Saturday night that it had trained tens of thousands of employees, from retirees to management, to fill the role of the workers who are now on strike.

    "We are confident that we have the talent and resources in place to meet the needs and demands of our customers," Marc C. Reed, Verizon's executive vice-president of human resources, said in a statement.

    Chris King, an analyst at Stifel Nicolaus, played down the impact of the strike on the company.

    "The wireline business is something that Verizon is less exposed to than they have ever been in the past," King said. "They are certainly more comfortable dealing with the strike today than they were 10 years or so ago."

    King, who has a "buy" rating on Verizon, said he sees the impact limited to slower-than-usual installations.

    UNACCEPTABLE DEMANDS

    Among the changes it is seeking, Verizon said it wants to freeze employee pension plans and replace them with an enhanced 401(k) plan." It also wants workers to contribute to healthcare insurance premiums.

    The CWA says the contributions to healthcare that Verizon wants the union members to make were unacceptable, and that increases in deductibles would make the proposed healthcare plan unaffordable.

    It said the profitable company is asking for far too many concessions from affected workers, who include technical and customer service employees in Verizon's wireline business.

    Verizon has 93,000 workers in its wireline business, of whom 58,000 are unionized. Including its Verizon Wireless venture with Vodafone Group Plc, the company's total workforce is 196,000 employees.

    (Reporting by Sinead Carew, Roy Strom and Dhanya Skariachan; Editing by Vicki Allen and Marguerita Choy)

    Saturday, August 6, 2011

    Reuter site - Busy NYC Starbucks block sockets to free up seats

    This article was sent to you from bombastic4000@yahoo.com, who uses Reuters Mobile Site to get news and information on the go. To access Reuters on your mobile phone, go to:
    http://mobile.reuters.com/article/oddlyEnoughNews/idUSTRE7743YY20110805

    Busy NYC Starbucks block sockets to free up seats

    Fri, Aug 05 11:36 AM EDT

    LOS ANGELES (Reuters) - Some busy Starbucks coffee shops in New York City have started blocking electrical outlets to discourage laptop users from hogging space, and to free up seats for other customers.

    "Customers are asking (for it) .... They just purchased a latte and a pastry and there is nowhere to sit down in some of these really high-volume stores," said Starbucks spokesman Alan Hilowitz.

    He said the decision is made on a case-by-case basis by individual stores, and to his knowledge is limited to some cafes in New York City.

    "If this is what the store needs to do to support the business, then they're allowed to make the decision to do that," Hilowitz said. "It really is all about the balance."

    Starbucks offers free Wi-Fi access to all of its customers. While inviting customers to linger can result in repeat purchases, it also can have unintended consequences.

    Seating is scarce in some cafes frequented by students, freelancer workers and other computer users who sometimes stay for hours.

    (Reporting by Lisa Baertlein; Editing by Richard Chang)

    About Me

    My photo
    If you know me then you know my name. I am The Black Rider and the world is my Flame. The rider writes, observes, creates, produces, and learns the world around him. Ride on. Ride on!

    The Remnants

    Powered By Blogger