Archive for January, 2012

By Michael S. Derby

In a speech calling for a host of policy actions to aid the housing market, a top Federal Reserve official also said Friday the central bank may have to provide more stimulus to help the economy.

Because the outlook for unemployment is unacceptably high relative to our dual mandate and the outlook for inflation is moderate, I believe it is also appropriate to continue to evaluate whether we could provide additional accommodation in a manner that produces more benefits than costs, regardless of whether action in housing is undertaken or not, Federal Reserve Bank of New York President William Dudley said.

He noted that as the Fed tries to aid the economy, and address the central role the weak housing market plays in impeding the recovery, the institution cannot go it alone. He said, monetary policy and housing policy are much more complements than substitutes.

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HOW TO HELP

Ayuda Foundation

bull;Checks can be mailed to or dropped off at 181 East Marine Corps Drive, Suite 207, Hagåtña, 96910. Make checks payable to the Ayuda Foundation. Include Sendong Relief on the checks memo line.

Guam Reef Hotel

bull;Donation boxes have been stationed in each of its restaurants, including Aliz#233;, Pala Pala Poolside BBQ, Sango, Top of the Reef and Sand Dune. Proceeds of the hotels nightly Christmas Caroling also will be donated to the victims of Typhoon Sendong.

American Red Cross, Guam Chapter

bull;The Guam Chapter of the American Red Cross is accepting monetary donations. Checks should be payable to American Red Cross Disaster Relief Fund, with the memo note Philippine disaster. Donations can be mailed to the Guam Red Cross, Bldg. 285, Route 4, Hagåtña, 96910.

Docomo Pacific

bull;Donate $1 by texting to 4236 (4CDO)

Filipino Community of Guam

bull;The Filipino Community of Guam is continuing to accept monetary donations and donations of non-perishable goods, clothing and other supplies until the end of the month. For more information, email FCG Public Relations Officer Mark A. Duarte at mduarte1972@gmail.com, or call FCG Board Chairman Emelio Uy at 646-6613 or 687-0725.

DIRECT DONATION

Those who want to donate directly to National Disaster Risk Reduction Management Council or the Department of Social Welfare and Development may do so by depositing their donations to the following accounts:

National Disaster Risk Reduction Management Council

bull;Bank name: Development Bank of the Philippines

bull;Account name: NDRRMC Donated Funds

bull;Account number: 0435-021927-130

bull;Swift code: DBPHPMM (account no. 36002016)

bull;Contact person: Rufina Pascual (Collecting Officer, Office of Civil Defense)

bull;Contact number: (632) 421-1920

Department of Social Welfare and Development

bull;Bank name: Land Bank of the Philippines (Batasan, Quezon City branch)

bull;Account number: 3124-0055-81

bull;Contact person: Fe Catalina Ea

bull;Contact number: (632) 931-8101 loc. 226, cel. no. (63918) 628-1897.

SEND YOUR INFO

bull;If your community organization or business is holding a fundraising event to help victims of Typhoon Sendong (international name Washi), send your information to news@guampdn.com.

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Risk (Stocks and Commodity FX) and Reversal Characteristics

By

Jamie Saettele, CMT, Sr. Technical Strategist

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An appeals court in Washington has dismissed a lawsuit by the
financial industry challenging new federal regulations aimed at
cracking down on speculation in commodities markets, a move that
will likely delay a decision about whether the rules pass
muster.

The Securities Industry and Financial Markets Association and
the International Swaps and Derivatives Association in December
filed challenges to the regulations adopted last year by the
Commodity Futures Trading Commission.

The US Court of Appeals for the District of Columbia Circuit
dismissed the lawsuit saying that the case must first be heard by
a lower court, an argument advanced by the CFTC.

There is no express congressional authorization of direct
appellate review applicable to the petition for review in this
case, the three-judge panel said in a brief order issued late on
Friday.

They said that federal laws provided for appellate review for
other agency action but not the challenged regulation.

The CFTC voted 3-2 in October to set position limits on the
number of commodity futures and swaps contracts that a trader
could hold. It has been decried by traders as a politically
motivated effort to cap prices that will make markets less liquid
and more volatile.

The two trade groups sued to block the new rules arguing that
the CFTC exceeded its authority and that the regulations were not
adequately justified.

The CFTC had argued that the case should first be heard by the
US District Court for the District of Columbia. Once that court
hears the case, whatever decision reached there can be challenged
at the appeals court level, a lengthier process.

Although the statute was unclear, we thought that might be
the answer and were prepared for it, and for that reason we filed
in both courts, said Steve Kennedy, a representative of the the
International Swaps and Derivatives Association. We now will
move forward quickly in the district court.

The industry groups already have filed a challenge at the
district court as well, but it was put on hold pending a decision
by the appeals court on whether it would hear the case.

The CFTC declined to comment.

(Reporting by Jeremy Pelofsky; Editing by Vicki Allen)

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BLOEMFONTEIN, South Africa (Reuters) – The euro zone crisis could hurt South Africas economy and the country should maintain a supportive monetary policy to ensure growth in the medium term, the head of the International Monetary Fund said on Saturday.

Christine Lagarde, in South Africa as part of her first tour of the continent since taking the IMF post, said the African economic powerhouse would do well to also moderate wage growth.

Although well integrated into the global economy, South Africa mitigated the worst impact of 2008s recession through a sound macroeconomic regime, a strong financial sector and a flexible exchange rate, she said.

The ongoing difficulties in the euro area, one of South Africas main export markets, present significant downside risks to the economic outlook, Lagarde said in a statement after meetings with President Jacob Zuma and senior officials.

In this context, we agreed that the challenge now is to ensure that monetary policy remains supportive and competitiveness improves.

The country has lost about a million jobs in the past two years, positions analysts say will be difficult to reopen because unions have priced labour out of the market.

The average factory worker in South Africa earns about six times as much as a factory worker in China and is less efficient.

South Africa, along other emerging markets, is bearing the brunt of global risk aversion triggered by the euro zone crisis. Its rand currency fell nearly 23 percent against the dollar in 2011.

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Tracy Hamand is part nurse, part mother, part adoption agency to
the furry clientele she supervises at the Humane Society of North
Iowa in Mason City.

“I just love animals,” said Hamand, 41, shelter manager at the
facility that houses both the Humane Society kennel and city animal
shelter for stray dogs and cats.

Shelter manager for about seven years, Hamand has been with the
Humane Society for 15 years, working previously as assistant
manager and serving as a board member.

She is part of a full-time staff of five employees “and a lot of
volunteers,” she said.

Her day begins at 8 am or earlier when she does a walk-through
of the kennel and the adjoining shelter, where strays are kept to
be picked up by their owners or placed for adoption.

On a recent weekday, the kennel housed 41 cats, 26 dogs and one
guinea pig; the shelter had 42 cats and 28 dogs.

“I’m looking for behaviors that are not normal in the animals,”
Hamand said as she checked out the pets.

She looks to make sure the cats and kittens are using their
litter boxes, for example.

She also looks for signs of illness or distress. “I deal with
any sicknesses they have,” she said.

Two cats will be sent to the veterinarian today: one with itchy
ears, the other, a urinary tract infection. “Our vets direct us
where to go with what medications, depending on what they actually
find,” Hamand said.

Hamand also checks on one lone guinea pig named Darwin, who
sticks his nose out of a little blue house in his cage long enough
to eat a slice of orange Hamand holds out to him.

“He grabs his treat and runs,” she says, laughing.

Other staff members are busy cleaning the dog kennels, a big job
each morning, Hamand said.

Some of the dogs have been transferred outdoors as their indoor
cages are cleaned and she checks on them, too. 

In both the kennel and the shelter, dogs and cats are housed in
separate areas.

“Everyone in here looks good,” she says, as she looks over the
cat cages. “One of them is going home today.”

A separate quarantine room in the city shelter houses dogs that
have bitten people in cases when a rabies shot cannot be proven.
The dogs must be in quarantine for 10 days, Hamand said.

A separate room on the kennel side is used to isolate pets that
are sick.

It is Hamand who makes the decision to put some pets in foster
care rather than in the kennel.

A female dog with puppies too young to be in the kennel requires
foster care, for example. A senior cat for whom the kennel would be
too stressful is also in foster care.

Also in foster care are two puppies that are sick and a rat
terrier that needs more socializing. 

Hamand, a former medical assistant who also has a degree in
accounting, also spends part of the morning in the veterinary room,
testing for worms, giving distemper booster shots and deworming
dogs that are new to the kennel. 

She also can treat for fleas, ticks and termites.

Hamand is authorized to administer heartworm tests and feline
leukemia tests, both of which require drawing blood. 

“I can’t do rabies shots and I can’t do spaying or neutering or
other surgeries,” she says, as she prepares the lab for her first
patient.

Bear, a lab mix, is first. Kennel manager Rachel Hinrichs brings
him in and leads him to the scale so his weight can be recorded.
Then Hamand gives him an oral deworming medication.

Next up is Willy, a pit bull terrier. He receives a booster shot
and is ready to go.

Sheila, a mixed-breed dog, also gets a distemper booster.

Emett, a yellow lab, needs a heartworm test. Because he is a new
dog to the kennel and Hamand is unsure of his temperament, Emett is
muzzled for the test. Afterward, the muzzle is removed and a wide
green bandage applied to his wound.

Millie, a mixed-breed dog, also needs a heartworm test and a
distemper booster.

Next week, Milly will be spayed by the vet and then she will go
home to a family that is adopting her, Hamand said.

The rest of Hamand’s day is spent reading through a pile of
applications by people wanting to adopt a pet, reading emails and
returning phone calls.

There are surgeries to schedule and questions to field from the
staff.

Hamand supervises the cleaning of the shelter, which includes
doing windows, floors, cages and laundry.

She also orders cleaning and veterinary supplies.

“A lot of time I’ll go with people to see the pets,” Hamand
said.

Hamand and assistant shelter manager Pam Langhoff handle the
adoptions at the kennel, spending time with the prospective
adoptive families and pets prior to adoption to see how they get
along. 

If the family has other children or other pets, Hamand asks the
family to bring them in so she can observe how well they interact
with the new pet.

“A lot of time I have to be the bearer of bad news,” she
said.

Her favorite times are seeing pets go home to a family, Hamand
said.

The hardest thing?

“Seeing an animal come back from an adoption that didn’t
work.”

 

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The Bridge, an offbeat church in a Flint, Michigan shopping center, is offering tattoos to its members. It also offers occasional classes in cage fighting, poetry slams and auto repair.

“A Michigan pastor who says hes doing everything he can to reach out to people who dont feel comfortable at a traditional house of worship has opened a tattoo parlor inside his church,” reports Businessweek magazine.

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We received many cards and letters this holiday season from previous adopters. They were filled with family news, pet updates and various photos.

It’s always so satisfying to keep up with the animals that have come through our program over the years. We have been through a lot with our adopters and supporters — various moves across the United States and abroad, births, deaths (both pet and human), significant life events and just general day-to-day living. 

I received a great card from a family that has adopted three dogs from us over the years. They lost one recently to advanced age but the other two are in relatively good health for their age. This family is one of those who dotes on their pets giving them everything they need to be happy, healthy companions.

Then there are the special-needs dogs and cats we’ve placed over the years.

  • The two deaf Cavalier King Charles spaniels from a breeding operation, which I placed years ago, are now therapy dogs visiting nursing homes and hospitals. I received a beautiful photo of them, with a card saying how these dogs had transformed people’s lives.
  • Sweetie, the miniature schnauzer that was so mistreated and had all her teeth removed because of such neglect.
  • The Westie pup that had his leg burned so badly from an unattended electric blanket in a breeding operation that we had to have it amputated.

It humbles me to know that there are such wonderful individuals out there willing to commit to their care with love and devotion.

There are so many animals that have touched my soul over the years, it would take a book to list them all. I feel fortunate to have had the unconditional love of all of them.

As I reflect on 2011, I think of the multitude of animals that have come through our home looking for that special family to love and care for them. I also think of the special people who have made such a difference in my life.

My husband, John Sweet, has always been my most staunch supporter during the past 25 years. He has been there through thick and thin — pulling ticks off dogs, giving baths, comforting abused dogs when they were afraid and scared, cleaning up vomit and poop, holding my hand when I cry as we lose one to the Rainbow Bridge, and ferrying animals all over the United States to vet appointments or their new families. He is a true partner in my endeavor to help animals.

My daughter, Ashley, is a wonderful, kind soul who cares for the welfare of all living creatures. She has contributed so much to their care since she was old enough to hold a puppy in her lap.

And of course my Happy Tails partner, Jim Johnson, who is one in a million. I have never met a kinder and more thoughtful person in my life than Jim. I feel privileged to have he and his wife, Glenna, in our Happy Tails family.

My life has been enriched. I am a better person because of the experiences I’ve had with Happy Tails.

Be thankful for what you have today — the individuals you love and the pets that share your life.

All of us at Happy Tails Animal Sanctuary wish each of you a happy, safe and healthy 2012.

Susan Hatfield is the president and co-founder of Happy Tails Animal Sanctuary. She can be reached at (573) 445-1680, or visit the Web site at www.htsanctuary.com.

Reach Susan Hatfield at 573-445-1680 .

Copyright 2012 Columbia Tribune. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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The US Federal Reserve on Tuesday said it would begin publishing forecasts on the path of interest rates later this month, a move that could suggest rates will be on hold for longer than previously expected.

The move is meant to better align bets in financial markets with the views of policymakers at the central bank and is a significant milestone in Ben Bernankes push for greater policymaking transparency.

The Fed has held the overnight federal funds rate close to zero since December 2008. In statements after its last four policy meetings, it has said it expected to keep rates ultra low until at least the middle of 2013.

But policymakers have chafed at a pledge that was both tied to the calendar and static, and many investors think rates will be on hold for even longer.

In minutes from its Dec. 13 meeting, released on Tuesday, the Fed said it will publish projections for the path of the federal funds rate along with its regular quarterly economic forecasts after its next meeting on Jan. 24-25. It also said officials would provide forecasts for the first rate hike.

The Fed believes that by publishing a projected path for short-term interest rates for the next few years and by also saying when it thinks rates will first be raised long-term interest rates will fall further, said Paul Dales, senior US economist for Capital Economics.

The minutes said a number of Fed officials believed economic conditions could well warrant a further easing of monetary policy, and that an enhanced communications framework could make any policy shift more effective.

However, a few others believed further stimulus would be a bad idea, a sign of the ongoing tussle at the central bank over whether the US economy needs more help.

At its December meeting, the Fed warned that turmoil from Europes debt crisis posed a major risk to the US economy and it left the door open to further steps to boost growth, even though it noted a somewhat stronger labor market.

Publishing rate path forecasts is likely to cool any financial market anticipation that modest improvements in the economy might mean a step by the Fed to tighten financial conditions could be drawing nearer.

Some officials worried the central banks current pledge that rates would stay ultra-low until at least the middle of 2013 might have to be adjusted before long, according to the minutes.

In publishing rate forecasts, the Fed is following the example of other central banks, including Sweden and Norway, and taking a step toward the greater policy transparency that Chairman Ben Bernanke had promised when he took office in 2006.

Policymakers last month also considered adopting a statement of their longer-run goals and strategy, a step analysts said could incorporate a formal inflation target.

However, it took no action and officials agreed to debate the subject further at their meeting later this month.

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Calling LL Bean … It wasnt her announcement for Congress that floored us. It was Kyrsten Sinemas claim of being an avid outdoorswoman.

The colorful, quotable Democrat resigned her central Phoenix Senate seat Tuesday to run for the new Congressional District 9. Its true that Sinema has taken up running with a vengeance and is training for next Sundays PF Changs Rock n Roll Arizona Marathon.

But cmon. Everyone knows Sinemas favorite sport is shopping. So even though her campaign announcement says she enjoys mountain biking and trail running, we know her ideal way to explore the great outdoors involves outdoor places like Kierland Commons and Desert Ridge Marketplace.

Sure, she may hike and bike and run. But Sinemas jones for clothes, bags and shoes shows pure dedication. And the real question remains: With Sinema gone, who will provide fashion policing with fellow clotheshorse and GOP Sen. Michele Reagan? Heres hoping the Maricopa County Board of Supervisors chooses someone with both style and substance to replace her.

Thats Pierce with an i-e, thank you … Incoming Senate President Steve Pierce has had nothing but nice things to say about his deposed predecessor, Russell Pearce.

Like, Pearce didnt deserve to be recalled (even though it opened the door for Steve to be the No. 1 guy in the Senate).

But last week, Pierce showed hes a different guy than the man he replaced.

When he got the times up hook at an Arizona Chamber of Commerce luncheon, he was quick to plead for a bit more time, noting hes not the non-stop speaker Russell was.

Im Pierce, P-i-e-r-c-e, he said. I dont take too long.

Gone and forgotten … That was quick! No sooner had Scott Bundgaard resigned his Senate seat than his presence at the state Capitol was vanishing.

His third-floor office had an empty desk and boxes. The Senate roster listed his seat vacant as of 1/6/2012. And his name was struck from the agendas of various committees meeting this week.

But he will live on in perpetuity in the Senate archives (audio, video and written) of his Ethics Committee hearing.

Quote of the week

If youre going to beat your wife, at least have the decency to do it at home. — Sen. Rich Crandall, R-Mesa, speaking at a Valley Leadership forum. He was reacting to Peoria Sen. Scott Bundgaards resignation following two days of ethics hearings.

Compiled by Republic reporters Mary K. Reinhart and Mary Jo Pitzl. Get the latest at politics.azcentral.com.

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