For whatever reason, numerous spoofs have been made using the "Hitler rant" scene from Der Untergang ("Downfall"), ranging from US elections, the real estate market, ACORN, etc.
Well, a spoof relating to patent law (and more specifically Bilski) has now been made, and it's quite funny, although at times you can't tell if the character playing Hitler is pro-patent or anti-patent . . .
Deferring collection of your Canadian Pension Plan benefits could pay off financially under proposed changes to the CPP rules, but first it's important to undertake the somewhat morbid task of figuring out how long you expect to live.
The proposed changes, which will begin to be phased in 2011 if they're approved by Parliament and the provincial governments, aim to provide retirees and older workers with greater flexibility and more choice.
If implemented, the changes would increase or decrease pension adjustments for people who choose to receive their CPP benefits either earlier or later than the normal collection age of 65.
Currently, the amount a person receives is reduced by 0.5 per cent for each month the pension is taken before age 65 to a maximum of 30 per cent. Conversely, the pension is increased by 0.5 per cent for each month it's taken after age 65 to a maximum of 30 per cent.
The changes will increase the early pension deduction to 0.6 per cent per month to a maximum of 36 per cent, while the late pension increase will be 0.7 per cent per month to a maximum of 42 per cent.
“We find very few people actually postpone retirement past 65 because a lot of people don't realize that you actually get a premium if you're willing to postpone your CPP as late as 70,” said David Ablett, director of tax and retirement planning at Investors Group. “It's almost like a race where somebody starts earlier but the person who starts later is a faster runner.”
Mr. Ablett said the proposed changes make it more attractive than ever to defer receiving your CPP as long as possible – assuming you expect to live a long time. “The more confident you are in your life expectancy, the more attractive the deferral becomes, because eventually you will generate a higher cumulative income from CPP by waiting, rather than starting early,” he said.
Mr. Ablett said if you decide to collect your CPP earlier or later than age 65, it's important to take into consideration the so-called “break-even point,” or the point at which your CPP income will catch up with where it would have been had you started collecting right at 65.
“Assuming that somebody started receiving their CPP at age 61, the break-even point is age 71, and what we mean by that is at age 71 the cumulative payments received starting at age 65 would become equal to the cumulative payments that started at age 61,” he said. “There's no right or wrong answer, but a lot of it would be based on how long you expect to live.”
Another factor to consider is whether you need to live on CPP income, or whether you can afford to invest it. If you can invest it, Mr. Ablett said, the break-even point will come much earlier. “If you have the ability to reinvest your CPP income, that would actually encourage you to start your CPP early and not wait until 65,” he said.
Other proposed changes to the national pension plan would allow people to receive their CPP benefit at age 60 while continuing to work full-time. Currently, workers who opt to receive the benefit early have to either stop working or reduce their wages.
The changes would also allow people who receive a CPP benefit while working to continue to make contributions to the plan, which will increase their overall retirement benefit. Currently, if you opt to receive your CPP while working you have to stop contributing to the plan.
Marcel Theroux of financial advisory firm Mercer LLC commended the changes for facilitating phased-in retirement but questioned how easy it will be for individuals to figure out what the smartest move is for them.
“Unfortunately, employees wishing to gauge the precise impact of these new rules on their particular situation may be stymied by both the complexity of the calculations and the absence of data on their complete work history. Employers will no doubt be asked by continuing employees whether they should take a CPP pension or not,” Mr. Theroux said.
“The government will face pressure to either develop tools or provide sufficient information to permit employees to determine the precise impact that the proposed changes will have on their CPP entitlements in order to permit employees to make informed CPP decisions,” he added.
© The Globe and Mail
By Terence Corcoran
A
fter two hours locked in a VIP screening room at a Toronto theatre to view Michael Moore’s latest film, Capitalism: A Love Story, I’m feeling pretty good. Generous, even. Advance hype, including copious promotional quotes from Moore himself, has positioned the new Moore epic as a powerful ideological battering ram for the beginning of the overthrow and ultimate destruction of America’s free market economy.
Appearing on The Jay Leno Show last Tuesday, Mr. Moore repeated some of his favourite lines: “Capitalism is legalized greed” and “We’re at a point now, Jay, in this country where the richest 1%, the very top 1%, have more financial wealth than the bottom 95% combined.” Jay Leno lapped it up. Next week, the Moore campaign gets its biggest boost yet when he makes an appearance on Oprah.
A week ago I wrote about the nice technical setup for the bulls. The indices were short-term oversold and were trying to bounce at a point that would make a higher-low. Well that bounce was successful enough to propel the indices to new 11-month highs today. The indices are now in short-term overbought territory and bumping up against the tops of some trend channels (the channel is much clearer on the Nasdaq). I wouldn't be a seller here but I'd prefer to be a buyer closer to the bottoms of those channels. I think this is "hold 'em if you've got 'em" territory.
All the short term trends flipped back to "up" a couple of days ago...
| Trend | Nasdaq | S&P 500 | Russell 2000 |
|---|---|---|---|
| Long-Term | Up | Up | Up |
| Intermediate | Up | Up | Up |
| Short-term | Up | Up | Up |
(+) Indicates an upward reclassification today
(-) Indicates a downward reclassification today
Lat Indicates a Lateral trend
WASHINGTON — Despite a recession that knocked down global arms sales last year, the United States expanded its role as the world’s leading weapons supplier, increasing its share to more than two-thirds of all foreign armaments deals, according to a new Congressional study.
The United States signed weapons agreements valued at $37.8 billion in 2008, or 68.4 percent of all business in the global arms bazaar, up significantly from American sales of $25.4 billion the year before.
Italy was a distant second, with $3.7 billion in worldwide weapons sales in 2008, while Russia was third with $3.5 billion in arms sales last year — down considerably from the $10.8 billion in weapons deals signed by Moscow in 2007.
The growth in weapons sales by the United States last year was particularly noticeable against worldwide trends. The value of global arms sales in 2008 was $55.2 billion, a drop of 7.6 percent from 2007 and the lowest total for international weapons agreements since 2005.
The increase in American weapons sales around the world “was attributable not only to major new orders from clients in the Near East and in Asia, but also to the continuation of significant equipment and support services contracts with a broad-based number of U.S. clients globally,” according to the study, titled “Conventional Arms Transfers to Developing Nations.”
The annual report was produced by the nonpartisan Congressional Research Service, a division of the Library of Congress. Regarded as the most detailed collection of unclassified global arms sales data available to the general public, it was delivered to the House and Senate on Friday, ready for members’ return from the Labor Day recess.
The overall decline in weapons sales worldwide in 2008 can be explained by the reluctance of many nations to place new arms orders “in the face of the severe international recession,” wrote Richard F. Grimmett, a specialist in international security at the Congressional Research Service and author of the study.
Mr. Grimmett’s report stated that the growth of weapons sales by the United States was “extraordinary” in a time of global recession and resulted from new arms deals as well as the sustained cost of maintenance, upgrades, ammunition and spare parts to nations that bought American weapons in the past.
In the highly competitive global arms market, nations vie for both profit and political influence through weapons sales, in particular to developing nations, which remain “the primary focus of foreign arms sales activity by weapons suppliers,” according to the study.
Weapons sales to developing nations reached $42.2 billion in 2008, only a nominal increase from the $41.1 billion in 2007.
The United States was the leader not only in arms sales worldwide, but also in sales to nations in the developing world, signing $29.6 billion in weapons agreements with these nations, or 70.1 percent of all such deals.
The study found that the larger arms deals concluded by the United States with developing nations last year included a $6.5 billion air defense system for the United Arab Emirates, a $2.1 billion jet fighter deal with Morocco and a $2 billion attack helicopter agreement with Taiwan. Other large weapons agreements were reached between the United States and India, Iraq, Saudi Arabia, Egypt, South Korea and Brazil.
Russia was far behind in 2008 with $3.3 billion in weapons sales to the developing world, about 7.8 percent of all such agreements. The report says that while Russia continues to have China and India as its main weapons clients, Russia’s new focus is on arms sales to Latin American nations, in particular to Venezuela.
France was third with $2.5 billion in arms sales to developing nations, or about 5.9 percent of weapons deals with these countries.
The top buyers in the developing world in 2008 were the United Arab Emirates, which signed $9.7 billion in arms deals; Saudi Arabia, which signed $8.7 billion in weapons agreements; and Morocco, with $5.4 billion in arms purchases.
The study uses figures in 2008 dollars, with amounts for previous years adjusted for inflation to give a constant financial measurement.by Jason Straziuso
Kabul — The Associated Press Last updated on Friday, Sep. 04, 2009 06:12PM EDT
The U.S. Embassy in Afghanistan has banned alcohol and assigned American personnel to watch the embassy's security guards following allegations of lewd behaviour and sexual misconduct at their living quarters.
The U.S. Embassy announced its new security measures Thursday after an independent watchdog group charged that guards hired by a private contractor were threatened and intimidated by supervisors.
The alleged mistreatment occurred at their offsite living quarters.
The State Department inspector general is leading an investigation of the contractor, ArmorGroup North America.
Ambassador Karl Eikenberry held a meeting with his staff on Thursday to discuss the situation, said embassy spokeswoman Caitlin Hayden.
“We've already started to make changes to remedy some of the problems,” Ms. Hayden said.
Alcohol has been prohibited at Camp Sullivan — the offsite location where ArmorGroup guards live — and diplomatic security staff have been assigned to the camp, the embassy said.
The embassy “will continue to take every possible step to ensure the safety and security of American Embassy personnel, while respecting the values of all Afghans, Americans and contract employees and visitors from other countries,” a statement said.
The ArmorGroup security personnel guard the gates to the embassy road and perimeter and screen visitors. The Project on Government Oversight, an independent watchdog group, said the nearly 450 ArmorGroup guards live and work in an oppressive environment in which they are subjected to hazing and other inappropriate behaviour by supervisors.
In at least one case, supervisors brought prostitutes into the quarters where the guards live, a serious breach of security and discipline, the group said this week. In other instances, members of the guard force drew Afghans into activities forbidden by Muslims, such as drinking alcoholic beverages, it said. Photos were released of guards and supervisors in various stages of nudity at parties flowing with booze.
Guards from the U.S. Embassy in Afghanistan are shown in various states of undress in this undated handout image released on Sept. 4, 2009.
The situation led to a breakdown of morale and leadership that has compromised security at the embassy, where nearly 1,000 U.S. diplomats, staff and Afghan nationals work, according to the non-profit group.
The embassy has been targeted in insurgent rocket attacks, and suicide bombs have exploded at or near its gates. Militant attacks have risen across Afghanistan the last three years.
The announcement of the crackdown on embassy guards came as NATO reported the deaths of two U. S. service members in southern Afghanistan. A British soldier was also killed, according to the U.K. military.
The two U.S. personnel were killed by a bomb while on patrol in the region, which has seen some of the most intense fighting of the war. No other details have been released.
The British soldier from 2nd Battalion The Mercian Regiment was shot dead while on patrol in Afghanistan's southern Helmand Province.
MONTREAL – There is a new sheriff in town for 2009-10, and the certainty is that Jacques Martin will be under the microscope at least as much as any of the flood of acquisitions who'll be wearing the Canadiens jersey this season.
He is coming here at a time when nothing less than winning consistently is at the top of the team's priority list. Anything less is unacceptable. A 2008-09 season when the team came out sprinting in the first half and disappeared in the second is off the board.
You can include me among the group that was surprised - with gusts up to shock - when Martin was named head coach long before Bob Gainey went about the business of putting a new face on the Canadiens. Now, what remains to be seen is what Martin does with it.
What you should know about Martin is that there's no Guy Carbonneau in him. Carbo, the player, always brought passion to the table. He did the same as a coach, particularly when the team was going through a bad spell. Martin, on the other hand, is inclined to keep everything inside. In other words, don't expect emotional outbursts or even a flicker of fire from him. He could be breaking up inside, but you'd never know it.
I have gone through 16 head coaches with this team, starting with Toe Blake, whose teams won eight Stanley Cups in 13 seasons. Hockey has never seen a better coach than Blake - or one as good. His players knew what Blake stood for, how he felt, what he thought, liked, loved and hated. What he loved was to win. Losing was what he hated.
Winning wasn't merely a worthwhile target: it was everything. He was followed by Claude Ruel in 1968-69, who led Blake's Habs to their fourth Cup in five seasons, but missed the playoffs the following year for the first time in 22 seasons. After only 23 games the next season, Ruel was replaced by Al MacNeil who led the team to a remarkable Cup victory, starting with a seven-game upset over the heavily favoured Big Bad Bruins. All of the deciding games against Boston, Minnesota and Chicago were on the road.
Scotty Bowman was called in for 1971-72 for an astonishing run of five Cups in eight seasons. Furthermore, he probably would have won one or two more if he had not decided to leave on June 11, 1979, because, as he put it, he "no longer felt comfortable working with GM Irving Grundman."
The real reason for Bowman's sudden departure, however, was that Bowman hadn't been appointed to replace GM Sam Pollock, who had left the organization the year before.
Bowman would be the first to tell you Blake was his mentor. The biggest lesson he learned from him was that the best teams don't win Stanley Cups unless their coach gets the most out of their best players. Many, perhaps most, of Bowman's players didn't like him, but they liked winning. Bowman was a winner.
Bernard Geoffrion was a surprise replacement for Bowman, but left the team in the hands of an older, wiser Ruel after only 30 games. It was a year in which the Canadiens finished first in their division with 107 points, but fell to Minnesota in the second round of the playoffs.
Then, after a 103-point season and a first-round loss to the Edmonton Oilers ... time for another change.
Bob Berry was a decent coach, but a lousy gin player. I lost an annuity when he was fired at the end of the 1982-83 season, re-hired by incoming GM Serge Savard - then replaced by assistant coach Jacques Lemaire midway through that year.
Jean Perron took over behind the bench in 1985-86, and restored the Canadiens' fortunes by winning the Cup in his rookie season, but wasn't regarded highly by his players. He had trouble earning his players' respect. Team discipline was lax, and Perron did little to tighten the reins. He had inherited a good team from Lemaire, but the biggest reason for the club's success was the arrival of Patrick Roy, whose remarkable 1.92 goals-against average in 20 playoff games brought home the big prize.
Pat Burns was to follow Perron, and held the job for four seasons - the longest tenure of any Montreal head coach since Bowman.
Burns, an ex-cop, played the "bad cop" role to near-perfection, but in time his black-hat act wore thin.
The rest you know. Jacques Demers was behind the bench for the Canadiens' 24th and last Stanley Cup in 1993, again mostly because of Roy's excellence. Since then, the cupboard's been bare under coaches Mario Tremblay, Alain Vigneault, Michel Therrien, Claude Julien, Gainey and Carbonneau.
Clearly, Martin faces a difficult task taking over a team that has undergone a monster facelift from one season to the next. He's behind the bench for an organization that has failed to make it beyond the second round of the playoffs for the past 16 seasons. In six of those seasons, they've failed to make it to the playoffs.
The good news is that there's nothing complicated or mysterious about what Martin must do to keep his bosses, his players and Canadiens fans happy.
All he has to do is win.
rfisher@thegazette.canwest.com
LAGOS — Nigerian authorities arrested on Wednesday two dozen people wanted over massive debts owed to troubled banks in a scandal that has rocked the country's financial industry.
The country's anti-graft agency had given the debtors, who included some of the country's most prominent tycoons, until Tuesday to repay their debts.
"Up to 24 bank debtors or defaulters have been brought into our premises. They are under arrest and they will undergo interrogation," said Femi Babafemi, a spokesman for the Economic and Financial Crimes Commission (EFCC).
"They are likely to be charged to court this week," Babafemi told AFP, refusing to disclose the identities of those arrested.
"The figure may be more than that at the end of today as all the five teams that went out to pick up these defaulters were yet to return", added Babafemi.
He confirmed that one of the two bank chiefs wanted by the EFCC gave herself up Wednesday after the one-week ultimatum expired.
"One of the two big fishes we are looking for surrendered herself to EFCC today," said the official who did not name the affected former bank chief.
The EFCC had said on Sunday that it was looking for Erastus Akingbola, the ex-boss of the Intercontinental Bank plc, and Cecilia Ibru, former boss of Oceanic Bank plc.
"The two former bank executives are wanted in connection with fraudulent abuse of credit process, insider trading, capital market manipulation and money laundering running into billions of Naira," an EFCC statement had said.
Nigeria's financial sector has been in crisis since the central bank chief announced on August 14 that he was sacking the heads of five banks for piling up billions of dollars in bad debts.
EFCC boss Farida Waziri said on Tuesday that the debts owed by wealthy entrepreneurs bordered "on economic sabotage of this country."
The list of accused debtors includes tycoon Aliko Dangote, rated by U.S. Forbes magazine as one of the world's richest Africans with a net worth of around 3.3 billion dollars, as debtors to these banks.
The central bank put the total loan portfolio of the five ailing banks — Afribank, Intercontinental Bank, Union Bank, Oceanic Bank and Finbank — at 2.8 trillion naira (17.8 billion dollars, 12.6 billion euros).
CHICAGO - Hip fracture rates have declined among the elderly for a variety of reasons, but the disabling injury is still a major health threat as populations age, Canadian researchers said on Tuesday.
A steady year-over-year decline in fracture rates since 1985 predates widespread use of drugs used to treat osteoporosis and preserve bone density, the researchers said, even though drugs that first entered the market in the mid-1990s likely played a role.
"I don't honestly think there's just one factor that accounts for all of this," said Dr. William Leslie of the University of of Manitoba in Winnipeg, who led the study published in the Journal of the American Medical Association.
Between 1985 and 2005, more than 570,000 Canadians were treated for hip fractures. Over those two decades, the rate of hip fractures declined 32 per cent in women and 25 per cent in men, with the largest decrease among adults aged 55 to 64.
A fractured hip can lead to complications from surgery such as infections, pneumonia, and blood clots arising from the loss of mobility. One in five elderly who suffer a hip fracture die within a year.
While fracture rates have declined since 1985, the overall number in North America and Europe has climbed as populations age. Worldwide, there are 9 million new hip fractures related to declining bone density every year, the report said.
"The point is, there's no time for complacency," Leslie said in a telephone interview.
"We can identify with bone density testing those with higher risk of hip fracture, and medications in the appropriate individuals are quite helpful in reducing the risk," he said.
Possible factors in the decline in fracture rates include better nutrition throughout life that has a lasting impact on bone health, more attention to the risk of falls, improved diagnostic and treatment options for those with thinning bones, and, curiously, higher rates of obesity, Leslie said.
Overweight people tend to suffer less from osteoporosis because they have more bone-strengthening hormones circulating in their bodies and more padding to protect hips during falls. Underweight people are also more at risk of osteoporosis.
"We are in no way advocating obesity," Leslie said. "People that are immobile tend to lose muscle strength and balance, so they be more at risk for falls."
Drugs used to strength bones include a class of products known as bisphosphonates. Among them are Merck & Co's Fosamax, Roche Holding AG's Boniva, Novartis AG's Reclast, Procter and Gamble Co's Actonel, Sanofi Aventis' Skelid and Novartis' Aredia and Zometa.
