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Wednesday, April 18, 2007

Bell Canada Enterprises (BCE), one of Canada’s largest telecommunications companies, announced Tuesday that it is in talks with a consortium of Canadian pension funds to explore the possible sale of the company.

If successful in their bid, the consortium would take the publicly-traded company private, which would mean an end to the trading of BCE shares on the Toronto (TSX: BCE), New York (NYSE: BCE) and the Swiss (SWX: BCE) stock exchanges. BCE is one of the most widely held stocks in Canada.

BCE revealed that the potential takeover group includes the Canada Pension Plan Investment Board, the Caisse de dépôt et placement du Québec, and Canada’s Public Sector Pension Investment Board. Each of the pension funds involved have signed non-disclosure and standstill agreements with BCE. It was also revealed that New York-based private equity firm Kohlberg Kravis Roberts (KKR) would join the Canadian-led consortium as a minority partner.

“We are pleased to be a partner with this consortium of leading Canadian institutional fund managers and look forward to working closely together in this transaction.” said Henry Kravis, co-founding member of KKR. “Our experience in large, complex transactions of comparable size will be of significant value to this process,” continued Kravis.

BCE is also leaving the door open to rival bids, “taking into consideration the need to meet all legislative and regulatory requirements, including ensuring the Company remains Canadian to meet existing foreign ownership restrictions,” the company stated. In addition, BCE may retain the status quo if it does not receive a bid that it feels would enhance shareholder value.

One other pension fund that has expressed interest is the Ontario Teachers’ Pension Plan (OTPP). “We are pleased that this process is not exclusive and we will continue to review our options, including leading an alternative Canadian consortium,” said Jim Leech, Senior Vice-President, Teachers’ Private Capital. OTPP is currently BCE’s largest single shareholder, with an approximate ownership stake of 5.3 percent.

BCE, as Bell Canada, has been in business for 127 years. It provides phone service, satellite television, Internet access, wireless services, and other technologies to residential and business customers.

If analyst estimates are accurate, the sale of BCE could be worth about CA$32 billion or roughly $40 per share. On Tuesday, BCE shares were up CA$2.34 to close at $38.60 on the TSX, and up US$2.03 to close at $34.10 on the NYSE.

Saturday, December 21, 2019

On Wednesday, the United States House of Representatives impeached President Donald Trump over complaints arising from an alleged abuse of power. Trump, the third President to be impeached by the House, is to face trial in the Senate.

The House passed two different articles of impeachment. The first charged Trump with abuse of power, and the second accused him of obstruction of Congress. The abuse of power charge stemmed from allegations Trump tried to pressure the Ukrainian government to launch an investigation of Joe Biden’s son, in order to help Trump’s chances in the 2020 United States presidential election in which Biden is also running. The articles passed by votes of 230-to-197 and 229-to-198 respectively.

The impeachment occurred largely along partisan lines, with Democratic members of the House voting in favor of the impeachment, and Republican members opposing. Two Democratic Representatives, Collin Peterson and Jeff Van Drew, opposed both articles of impeachment, and a third, Jared Golden, voted for the first article but against the second. In the immediate aftermath of the vote, CNN reported Jeff Van Drew was expected to leave the Democratic party.

Mitch McConnell, the Republican Senate Majority Leader, reportedly previously committed to proceeding with an impeachment trial, anticipated to begin in January. He publicly stated the trial would not be impartial, saying he anticipated having “a largely partisan outcome” in the Senate. Republicans hold a majority in the Senate, and for a trial to result in removal from office a two-thirds majority is needed. If Trump were removed, the Senate constitutionally could disqualify him from serving as President again.

The House has only impeached two other Presidents. Bill Clinton was impeached in 1998, and Andrew Johnson in 1868. The Senate acquitted both of them.

Tuesday, August 31, 2010

Every September, the Apple iPod is redesigned. Last year saw the release of the iPod Nano 5th generation, bringing a video camera and a large range of colours to the Nano for the first time. But as Apple again prepares to unveil a redesigned product, the company has released their quarterly sales figures—and revealed that they have sold only 9m iPods for the quarter to June—the lowest number of sales since 2006, leading industry anylists to ponder whether the world’s most successful music device is in decline.

Such a drop in sales is not a problem for Apple, since the iPhone 4 and the iPad are selling in high numbers. But the number of people buying digital music players are concerning the music industry. Charles Arthur, technology editor of The Guardian, wrote that the decline in sales of MP3 players was a “problem” for record companies, saying that “digital music sales are only growing as fast as those of Apple’s devices – and as the stand-alone digital music player starts to die off, people may lose interest in buying songs from digital stores. The music industry had looked to the iPod to drive people to buy music in download form, whether from Apple’s iTunes music store, eMusic, Napster or from newer competitors such as Amazon.”

Mark Mulligan, a music and digital media analyst at Forrester Research, said in an interview that “at a time where we’re asking if digital is a replacement for the CD, as the CD was for vinyl, we should be starting to see a hockey-stick growth in download sales. Instead, we’re seeing a curve resembling that of a niche technology.” Alex Jacob, a spokesperson for the International Federation of the Phonographic Industry, which represents the worldwide music industry, agreed that there had been a fall in digital sales of music. “The digital download market is still growing,” they said. “But the percentage is less than a few years ago, though it’s now coming from a higher base.” Figures released earlier this year, Arthur wrote, “show that while CD sales fell by 12.7%, losing $1.6bn (£1bn)in value, digital downloads only grew by 9.2%, gaining less than $400m in value.”

Expectations that CDs would, in time, become extinct, replaced by digital downloads, have not come to light, Jacob confirmed. “Across the board, in terms of growth, digital isn’t making up for the fall in CD sales, though it is in certain countries, including the UK,” he said. Anylising the situation, Arthur suggested that “as iPod sales slow, digital music sales, which have been yoked to the device, are likely to slow too. The iPod has been the key driver: the IFPI’s figures show no appreciable digital download sales until 2004, the year Apple launched its iTunes music store internationally (it launched it in the US in April 2003). Since then, international digital music sales have climbed steadily, exactly in line with the total sales of iPods and iPhones.”

Nick Farrell, a TechEYE journalist, stated that the reason for the decline in music sales could be attributed to record companies’ continued reliance on Steve Jobs, CEO of Apple, saying that they had considered him the “industry’s saviour”, and by having this mindset had forgotten “that the iPod is only for those who want their music on the run. What they should have been doing is working out how to get high quality music onto other formats, perhaps even HiFi before the iPlod fad died out.”

When Jobs negotiated a deal with record labels to ensure every track was sold for 99 cents, they considered this unimportant—the iPod was not a major source of revenue for the company. However, near the end of 2004, there was a boom in sales of the iPod, and the iTunes store suddenly began raking in more and more money. The record companies were irritated, now wanting to charge different amounts for old and new songs, and popular and less popular songs. “But there was no alternative outlet with which to threaten Apple, which gained an effective monopoly over the digital music player market, achieving a share of more than 70%” wrote Arthur. Some did attempt to challenge the iTunes store, but still none have succeeded. “Apple is now the largest single retailer of music in the US by volume, with a 25% share.”

The iTunes store now sells television shows and films, and the company has recently launced iBooks, a new e-book store. The App Store is hugely successful, with Apple earning $410m in two years soley from Apps, sales of which they get 30%. In two years, 5bn apps have been downloaded—while in seven years, 10bn songs have been purchased. Mulligan thinks that there is a reason for this—the quality of apps simply does not match up to a piece of music. “You can download a song from iTunes to your iPhone or iPad, but at the moment music in that form doesn’t play to the strengths of the device. Just playing a track isn’t enough.”

Adam Liversage, a spokesperson of the British Phonographic Industry, which represents the major UK record labels, notes that the rise of streaming services such as Spotify may be a culprit in the fall in music sales. Revenues from such companies added up to $800m in 2009. Arthur feels that “again, it doesn’t make up for the fall in CD sales, but increasingly it looks like nothing ever will; that the record business’s richest years are behind it. Yet there are still rays of hope. If Apple – and every other mobile phone maker – are moving to an app-based economy, where you pay to download games or timetables, why shouldn’t recording artists do the same?”

Well, apparently they are. British singer Peter Gabriel has released a ‘Full Moon Club’ app, which is updated every month with a new song. Arthur also notes that “the Canadian rock band Rush has an app, and the industrial rock band Nine Inch Nails, led by Trent Reznor – who has been critical of the music industry for bureaucracy and inertia – released the band’s first app in April 2009.” It is thought that such a system will be an effective method to reduce online piracy—”apps tend to be tied to a particular handset or buyer, making them more difficult to pirate than a CD”, he says—and in the music industry, piracy is a very big problem. In 2008, the International Federation of the Phonographic Industry estimated that 95% of downloads were illegitimate. If musicians can increase sales and decrease piracy, Robert says, it can only be a good thing.

“It’s early days for apps in the music business, but we are seeing labels and artists experimenting with it,” Jacob said. “You could see that apps could have a premium offering, or behind-the-scenes footage, or special offers on tickets. But I think it’s a bit premature to predict the death of the album.” Robert concluded by saying that it could be “premature to predict the death of the iPod just yet too – but it’s unlikely that even Steve Jobs will be able to produce anything that will revive it. And that means that little more than five years after the music industry thought it had found a saviour in the little device, it is having to look around again for a new stepping stone to growth – if, that is, one exists.”

Monday, November 28, 2005

SpaceX called off the much-delayed inaugural launch of their new Falcon 1 rocket on Saturday from Kwajalein’s Omelek Island launch site. The intent was to launch the U.S. Air Force Academy’s FalconSat 2 satellite, which will monitor plasma interactions with the Earth’s upper atmosphere and magnetosphere.

The launch was delayed, then finally cancelled after an oxygen boil-off vent had accidentally been left open. The oxygen was unable to cool the helium pressurant, which then proceeded to evaporate faster than it could be replenished. A main computer issue, probably serious enough to cause a scrub on its own, was also discovered.

This long-anticipated flight was originally expected to be launched in January 2005, however a series of setbacks forced a series of delays, with the flight most recently scheduled to be in early 2006. It was intended to be launched from the Kwajalein atoll in the middle of the Pacific Ocean.

The maiden voyage was originally intended to launch from Vandenberg Air Force Base in California with a Naval Research Laboratory satellite and a Space Services Incorporated space burial payload.

Wednesday, April 14, 2010

Japanese auto maker Toyota is to temporarily suspend sales of its luxury Lexus GX 460 SUV following an unfavorable verdict from Consumer Reports, which concluded “Don’t Buy: Safety Risk,” the first such warning in almost a decade.

After conducting its standard emergency handling tests on the 2010 version of the Lexus GX 460, Consumer Reports became concerned that the rear of the vehicle had a tendency to slide out, which in real life situations could lead to rollovers. However, the consumer organisation is also unaware of any such incidents with the 5000 GX 460s sold since its launch three months ago.

Already embattled with ongoing safety issues with its vehicles, Toyota has been quick to act, though it did claim that the car was safe to drive and that it had passed internal safety standards. According to Toyota, “Lexus’ extensive vehicle testing provides a good indication of how our vehicles perform and we are confident that the GX meets our high safety standards.”

Monday, December 14, 2020

On Tuesday, US-based software company Red Hat announced their plans to shift their focus away from CentOS in favour of CentOS Stream.

In the blog post Chris Wright, the Chief Technological Officer of Red Hat said Red Hat had informed the CentOS governing board that Red Hat was “shifting our investment fully from CentOS Linux to CentOS Stream”. At least five of the nine CentOS Governing Board listed on the project are Red Hat employees.

Started in 2004, CentOS has been a free-of-cost free/libre open source software which provided binary-code compatibility with Red Hat Enterprise Linux (RHEL) — Red Hat’s GNU General Public Licensed paid operating system. CentOS was absorbed into Red Hat in 2014, with Red Hat gaining the trademark rights of “CentOS”.

Red Hat also sponsors the Fedora operating system. Red Hat even gives the software engineering interns laptops with Fedora on it. Till now, software development took place on Fedora, which was later adopted in RHEL, which the Red Hat maintained and provided support for, for those customers who had RHEL subscription. CentOS would then follow RHEL to provide the same features free of cost, but without the support.

Stream was announced in September 2019, just two months after Red Hat was acquired by IBM. CentOS Stream’s development cycle had new features added to it before the features became a part of RHEL. Stream receives more frequent updates, however, it does not follow RHEL’s release cycle.

With CentOS Stream, developments from the community and the Red Hat emplyees would take place beforehand on both Fedora, and Stream as a rolling release, before those features are absorbed into RHEL. CentOS followed the release cycle of RHEL and therefore it was a stable distribution. Features available in CentOS were tried and tested by Fedora, and then RHEL maintainers. Stream, on the other hand, has features added to it before those features become a part of RHEL. That implies Stream would be ahead of RHEL’s development, containing new features which are not yet tried and tested by RHEL developers, and not be binary code-compatible with RHEL.

Writing “The future of CentOS Linux is CentOS Stream”, Wright further wrote in the announcement, CentOS Stream “provides a platform for rapid innovation at the community level but with a stable enough base to understand production dynamics.” Wright also said, “CentOS Stream isn’t a replacement for CentOS Linux; rather, it’s a natural, inevitable next step intended to fulfill the project’s goal of furthering enterprise Linux innovation.”

Since the announcement was made, many people expressed their anger on Internet Relay Chat (IRC), Reddit and CentOS project’s mailing list. CentOS 8’s End of Life (EOL) has been moved up from May 2029 to December 31, 2021, while CentOS 7 is expected to receive maintenance updates through June 2024, outliving CentOS 8.

Gregory Kurtzer, who had started the CentOS project, announced a new operating system, Rocky Linux. Rocky Linux describes itself as “a community enterprise Operating System designed to be 100% bug-for-bug compatible with Enterprise Linux”. The project said “Rocky Linux aims to function as a downstream build as CentOS had done previously, building releases after they have been added to the upstream vendor, not before.” The project maintainers have not decided a date for when the operating system will be released.

Kurtzer explained the reason to call the OS as Rocky Linux: “Thinking back to early CentOS days… My cofounder was Rocky McGaugh. He is no longer with us, so as a H/T [hat tip] to him, who never got to see the success that CentOS came to be, I introduce to you…Rocky Linux”.

Wikinews reached out to the members of the CentOS project, Pablo Greco and Rich Bowen, to discuss this move, its implications as well as the future of CentOS. Greco is a maintainer of armhfp (32-bit processors) and is a part of the CentOS’ quality assurance team. Bowen — who unlike Greco, works for Red Hat — is the community manager of the CentOS project.

Thursday, October 26, 2006

The upcoming 2006 Brampton municipal election, to be held November 13, features an array of candidates looking to represent their wards in city council or the council of the Peel Region.

Wikinews contributor Nick Moreau contacted many of the candidates, including Vicky Dhillon, asking them to answer common questions sent in an email. This ward’s incumbent is Garnett Manning; also challenging Manning is Stella Ambler, Mandeep Dhaliwal, Daljit Gill, and Nalem Malik.