NEWS – WEEK OF FEB 19th
By: Hope Wilkos, Writer/Blogger Photographer: George Whylie Videographer: Maxine NolanLooking back at the week of February 19th, there has been a combination of good and bad news.
On Monday, February 20th, UN Inspectors arrived in Tehran, Iran. This is the second time within the month. The main objective on this visit was to clarify ‘possible military dimensions’ of the nuclear program. Prior to this arrival, Iranian President Mahmoud Ahmadinejad unveiled new developments in his country’s nuclear program during an elaborate ceremony. This was hopefully a constructive visit to iron out outstanding issues.
Also on Monday, February 20th, an avalanche resulted in tragedy as it swept down Stevens Pass in Washington State. Many skiers were on the slope and the natural disaster took the life of three individuals. The victims were identified as Jim Jack, a well-known head judge for the Freeskiing World Tour, Stevens Pass Marketing Director, Chris Rudolph and a Leavenworth contractor, Johnny Brenan. It was a very dangerous situation and although some survived, chances of survival on a slope once an avalanche is underway is very slim even for the most experienced of skiers.
Good news came on Tuesday, February 21st. The DOW broke 13,000 points for the first time since 2008. It couldn’t stay up there for the week but at least the day closed on a positive note. Greece was also granted a bailout which will need to be voted upon. The Eurozone approved a new $173 billion bailout for the faltering country. This includes a 22% cut to the private-sector benchmark minimum wage. There is a stipulation in the agreement that Greece will relinquish fundamental parts of its sovereignty to its foreign lenders, the European Commission and the European Central Bank and the International Monetary Fund. Greece’s private lenders will agree to write down $100 billion euros of Greek public debt and take a loss of more than 70% in exchange for longer-term bonds.
On Wednesday, February 22nd, sad news came that two Western journalists were killed in the Syrian fighting. The central city of Homs was shelled in massive fighting as part of the government repression that has been ongoing and many innocent civilians were also trapped. Veteran American War Correspondent, Marie Colvin, who had been working for The Sunday Times of London, and a young French photographer, Remi Ochlik, were both killed in the violence. Their makeshift media center was destroyed. It is thought that they were trying to escape as the rockets headed towards them. Colvin was no amateur to the dangers involved in reporting in war-torn countries. She lost an eye covering the Sri Lankan civil war and had worn an eye patch ever since.
Back home in the United States, the corporate tax rate was reduced from 35% to 28%. The president is also proposing elimination of some tax loopholes while re-crafting others which might not be a good idea. For instance, loopholes for energy companies will be eliminated while manufacturing firms will be undergoing new loopholes in the rules. The main objective is to boost tax revenues. This may prove lucrative for American businesses.
On Thursday, February 23rd, extensive campaigning is paying off for Rick Santorum as he is beginning to overtake the lead that Mitt Romney has held for some time now. The primaries in Arizona and Michigan are coming up and a win is crucial for any candidate still in the race. President Obama paid a visit to South Florida in Miami and gave a speech at the University of Miami pitching his energy plan to students by saying that instead of drilling, the U.S. will take control of its energy future with “a sustained, all-of-the-above strategy that develops every available source of American energy”. Natural gas may support more than 600,000 jobs by the end of the decade.
The week leveled out with violence resulting in fatalities due to the burning of Qurans at a U.S. base in Kabul, Afghanistan. Protests took place and one protestor is dead while a number of U.S. service members and Afghanistan police were wounded. Two United States Military officers were killed by a gunman inside the highly secured Afghanistan Ministry of Interior. Commenting back, U.S. officials have said that the burning of the Muslim holy books was inadvertent. The Taliban has claimed responsibility and President Karzai expressed his condolences to the families of the service members that were killed.
And so the news continues on and we move into a new week and look foward to seeing the fashions and the winners at ‘The Oscars’ this evening.
PHOTOS COURTESY OF AFP, REUTERS and SEATTLE TIMES
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