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Sunday, September 21, 2008

An email accidentally sent to Jeff Crouse of the Anti-Advertising Agency recently brought the controversial techniques of the advertising firm Kluger Agency under fire.

“I’m writing because we feel you may be a good company to participate in a brand integration campaign within the actual lyrics of one of the worlds most famous recording artists upcoming song/album,” the email read, offering to place Jeff Crouse‘s fake brand, Double Happiness Jeans, into the songs of popular artists. It was posted on his blog along with a reply that mocked Kluger and brought ridicule and criticism against Adam Kugler and his agency. According to Crouse, Kluger emailed him once again to claim it had been an automated email, and later requested that Crouse remove the post and comments criticizing himself and his agency, threatening a $150,000 lawsuit against Crouse for defamation.

Kluger Agency is known for advertising brands like Abercrombie & Fitch, Mercedes-Benz, and Nike by inserting the brand names in the songs of popular artists like Mariah Carey, Black Eyed Peas, Fall Out Boy, Pink, Lady GaGa and Ludacris. Kluger, founded in 2006, represents over 170 corporations and focuses on well-known record labels.

Kluger and his PR team have come forward defending the advertising techniques, stating that they do not have songs made just for the products in question and do not infringe on artistic integrity. “Now, we don’t want an artist to write a song specifically to promote a brand, we just feel that if it’s a product that’s admired by the artist and fits his/her image, we now have the capability of leveling out the playing field and making things financially beneficial for all parties involved,” he was quoted saying to Wired.

However, the agency’s website shows video examples of its product placement, with brand images and names often being repeated, pointed at, praised, or being the basis of the song. The website also advertises that “a successful ‘brand-dropping’ campaign will imprint [the] brand name and product into your market’s subconscious”.

Wednesday, November 3, 2010

Space Shuttle Discovery’s final launch on the STS-133 mission to the International Space Station has been delayed at least an additional day. Launch is now targeted for 3:29 PM EDT on Thursday.

The launch was originally scheduled for this past Monday, but was delayed two days because of helium and nitrogen leaks on board the shuttle.

Technicians are now working to repair technical glitches discovered yesterday on a main engine control computer.

The weather outlook, however, appears to be unfavorable for the new targeted launch day; there is an 80 percent chance of undesirable weather, according to the NASA space shuttle weather officer Kathy Winters.

The mission management team (MMT) is meeting today to discuss and troubleshoot Discovery’s newfound electrical problems.

STS-133 is scheduled to be an 11-day mission to the International Space Station to ship supplies to the crew, as well as additional components for the orbital outpost’s construction, including the Permanent Multipurpose Module and the third of four ExPRESS Logistics Carriers. The mission is the 133rd of the Space Shuttle Program and the 39th of Discovery.

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Thursday, October 3, 2013

A review this week by Wikinews of US Consumer Financial Protection Bureau (CFPB) complaints about mortgages in the United States shows Bank of America leads all lending institutions in complaints.

Since mortgages complaints were recorded in December 2011, 77,622 total have been added to CFPB’s database. 29.2% of these complaints involved Bank of America, with the second most received by Wells Fargo, accounting for 15.5% of all complaints. JPMorgan Chase ranked third by volume of complaints with 9.8%. Ocwen was fourth with 8.7% and Citibank was fifth with 4.8%. Nationstar Mortgage; Green Tree Servicing, LLC; HSBC; PNC Bank; U.S. Bancorp; OneWest Bank; SunTrust Bank; Flagstar Bank; and Select Portfolio Servicing, Inc. each had between 1.0 and 3.8% of total complaints. The remaining 14.4% of all complaints about consumer mortgages were divided between about 530 other lending institutions.

The Motley Fool reported last month that for the past fiscal quarter, the biggest US based mortgage lenders were from first to fifth Wells Fargo, JPMorgan Chase, Bank of America, Quicken Loans and U.S. Bancorp.

According to the US Federal Reserve, debt for family residences stands at US$10.706 trillion for the second quarter of 2013. As of the end of June of this year, Bank of America is the United States’s second largest commercial bank with US$1.343 trillion in domestic assets. Wells Fargo is the fourth largest commercial bank with US$1.251 trillion in domestic assets. JPMorgan Chase is the largest US commercial bank with US$1.329 trillion in domestic assets and US$1.947 trillion in total assets.

The mortgage complaints in the CFPB report include several subproducts. Conventional fixed mortgages account for 27.1% of all complaints. Conventional adjustable mortgages account for 10.0%. FHA mortgages account for 7.7% of all complaints. Home equity loans or lines of credit account for 3.8% of all complaints. VA mortgages are 1.4% of all complaints. Second mortgages and reverse mortgages each account for 0.6% of complaints. The remaining 48.7% of complaints are about other mortgages or other mortgage issues. A few years ago, FHA loans accounted for about 10% of all US mortgages while VA loans accounted for about 3%. Prime loans accounted for over 75% of the market and the rest were subprime mortgages.

California leads all states by volume of complaints with 14768. It is followed by Florida, New York, Georgia and Texas. When complaints are divided by a state’s total population, New Hampshire leads. The state is followed by Washington D.C., Maryland, Georgia and Florida. Complaints do not correlate with national rankings for August’s foreclosure rate by state where Nevada topped the list, followed by Florida, Ohio, Maryland and Delaware.

Two zip codes account for over 1,000 total complaints between them. 565 complaints originated in the 48382 zip code, which is in Commerce Township, Michigan, located in suburban Detroit. 553 complaints originated in the 33071 zip code, in Coral Springs, Florida. According to real estate website Zillow, there are currently 1,033 properties in foreclosure in Coral Springs while Commerce Township only has 131 properties currently in foreclosure. Four other zip codes have 100 plus complaints originating from them. 91730, in Rancho Cucamonga, California, had 158 complaints. 33409, in West Palm Beach, Florida, had 132. 92626, in Costa Mesa, California, had 125 complaints. 92660, in Newport Beach, California, had 122 complaints. Respectively, the towns had 534, 1,068, 153, and 134 properties currently in foreclosure. These numbers are higher than for the cities of a few sampled zip codes where there was only one complaint, such as Gold Hill, Oregon which has 4 properties in foreclosure, and Decatur, Illinois which has 6 properties in foreclosure.

The CFPB categorizes complaints into six categories: “Loan modification, collection,foreclosure” or problems when a person is unable to pay; “Loan servicing, payments, escrow account” or problems with making a payment; “Application, originator, mortgage broker”; “Credit decision / Underwriting”; “Settlement process and costs”, and “Other”. The CFPB says the complaint types indicate consumers “appear to be driven by a desire to seek agreement with their companies on foreclosure alternatives. The complaints indicate that consumer confusion persists around the process and requirements for obtaining loan modifications and refinancing, especially regarding document submission timeframes, payment trial periods, allocation of payments, treatment of income in eligibility calculations, and credit bureau reporting during the evaluation period.” Currently, 59.6% of all complaints against lenders deal with being unable to pay. 25.1% deal with problems in making a payment. 7.0% have to do with the application process.

Of the complaint-heavy zip codes, for 48382 in Commerce Township, Michigan, 98.9% of all complaints have to deal with being unable to pay. Accounting for 23.4% of all mortgage complaints in Commerce Township, 132 of the complaints for being unable to pay were made regarding Bank of America, accounting for 97.8% or all but 3 complaints against them from the zip. 121 of the Bank of America responses in Commerce Township were closed with explanation and 12 were closed with non-monetary relief. 33071 in Coral Springs is different, with 537 of the 553 complaints being categorized under other. Only 11 complaints relate to foreclosure and issues with being able to pay. 92626 in Costa Mesa, where 32% of the mortgage complaints were about Bank of America and 26.4% were about Wells Fargo, had 93.6% of its complaints dealing with being unable to pay. 5 total complaints dealt with payment issues and 3 dealt with applications.

Beyond regional variance in complaint types lodged, the top five mortgage lenders by volume of complaints all had being unable to pay as their top complaint category, ranging between 55.8% for Citibank and 69.4% for Bank of America. Problems with payment accounted for the second largest area of complaints, with Ocwen having the largest percentage of complaints at 31.9% and Bank of America having the smallest at 18.8%. Foreclosure was the top area of complaints for a number of other lending institutions including 1st Alliance Lending, OneWest Bank, Ally Bank, Banco Popular de Puerto Rico, Bank of the West, BMO Harris, BOK Financial Corp, Caliber Home Loans, Inc, Capital One, Deutsche Bank and EverBank.

Nationally, complaints reached a high of 5,840 for January 2013, 1,107 more than the next highest month of April 2013. The total emerging for September is the second lowest since records were first kept in December 2011. On a state by state level, this pattern largely repeats with a major exception for Florida which saw a peak of 849 complaints in June 2012. Then, as now, Florida was one of the top five states in the nation in its foreclosure rate. The national January spike came as the Qualified Mortgage standard required by the The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 came into play. It required mortgage lenders to take steps to insure borrowers could repay their mortgages.

Bank of America’s complaint volume follows the national trend, with a spike in January 2013 with 1,925 total complaints. Unlike nationally, the next month by volume of complaints was February of this year with 1,598 complaints. Prior to that, the highest month was May 2012 with 1,418 complaints. The lowest volume of complaints is September this year with 334.

Wells Fargo matched national trends for volume of complaints by month, with the exception of the current month being the lowest on record for number of complaints with 197 compared to the next lowest month, December 2011, when they had 221. JPMorgan’s complaint volume by month spiked in January and March of this year with 504 complaints. April of this year was the next highest month with 493 complaints, edging out May of last year with 488 complaints. September this year is on track to be the lowest month by complaint volume.

The federal government shutdown is unlikely to impact the current mortgage situation in the United States directly for most consumers, though mortgage processing by the Federal Housing Administration could be slower, resulting in fewer mortgages processed.

Tuesday, March 10, 2009

The trial began today for a Pennsylvania state trooper accused of killing his girlfriend’s estranged husband.

Kevin Foley, 43, is accused of cutting the throat of John Yelenic, a dentist who was in the final stages of finalizing a divorce from his wife, Michele. According to prosecutors, Foley “loathed Dr. Yelenic” so much that he asked another fellow trooper to help him commit the alleged murder, which occurred in Yelenic’s Blairsville home.

Deputy Attorney General Anthony Krastek told an Indiana County jury that Foley also prayed Yelenic would die, and spread false rumors that Yelenic molested his adopted son.

“You will see Kevin Foley has the motive, the opportunity and the ability to commit this crime, almost to the exclusion of anybody else,” Krastek said.

Foley’s defense attorney, Jeffrey Monzo, said during opening statements that DNA evidence was not conclusive. Monzo admitted to the jury that Foley did not like Yelenic, but said that does not mean he murdered him.

“Kevin Foley is innocent,” he said.

Prosecutors said they could call as many as 70 witnesses to try and prove Foley wanted Yelenic to die. The trial, at the Indiana County Courthouse, is expected to last about three weeks.

Foley, who is on unpaid suspension from the Pennsylvania State Police, is charged with criminal homicide. The jury has the option of convicting him of first-degree murder, which could put Foley in prison for life without parole, or of a lesser degree charge, like manslaughter.

John Yelenic was found dead in his home on April 13, 2006, one day before he was planning on signing his divorce papers. Prosecutors said Foley killed Yelenic after going to the dentist’s house to confront him over the terms of the divorce. Prosecutors claim Foley slashed Yelenic several times with a knife and pushed his head through a small window, causing a further gash on his neck. Yelenic bled to death.

Foley had been living with Michele Yelenic for two years at the time of the alleged homicide. Krastek said Michele also helped perpetuate rumors that Dr. Yelenic molested their son. John and Michele Yelenic had been separated in 2002. Michele Yelenic stood to collect Dr. Yelenic’s estate and a $1 million life insurance policy, and could lose about $2,500 a month in support if the divorce was finalized, a Pennsylvania grand jury previously determined.

Michele Yelenic is expected to testify that Foley was home with her when the alleged murder occurred. Krastek told the jury DNA under Yelenic’s fingerprints will ultimately link him to the murder, as will bloody shoe prints found at the crime scene that match athletic shoes Foley is known to wear.

Monzo also said authorities have failed to investigate several other suspects, including Yelenic’s neighbor. Monzo said Yelenic was on very friendly terms with the neighbor’s wife, which could have given him a motive to commit the murder.

Prior to the trial, Foley’s defense attorneys unsuccessfully sought a change of venue because an overwhelming majority of the jury pool was familiar with the allegations. The change was denied when jurors insisted they had not formed an opinion about the charges.

Friday, November 9, 2007

Thursday, November 8, two trade shows, named MEDIPHAR Taipei at the Taipei World Trade Center (TWTC) and Taipei Audio Video Fair at the TWTC and The Grand Hotel, opened in Taipei, Taiwan. Some politicians and government officials chose these events as an opportunity to promote their parties and campaign-coalitions ahead of the 2008 Taiwan Presidential Elections.

From the incumbent Pan-Green Coalition, President of the Republic of China Chen Shui-bian, Premier of Republic of China Chang Chun-hsiung, and spokesman for the Executive Yuan Jung-tai Cho visited the two shows successively and were innundated by Taiwanese media. President Chen avoided answering questions on the hot topic of commodities prices, addressing only those about the medical industry development, overseen by Sheng-mao Hou, Minister of Health.

From the Pan-Blue Coalition, 2008 vice-presidential candidate, and former Premier, Vincent Siew participated the opening of the Taipei Audio Video Fair at The Grand Hotel. He criticized on the economy policy and remarked: “The ruling party [DPP] doesn’t have a good track record, and some industries weren’t be supported in timely manner so that they lost some opportunities. I sincerely hope the government can appropriately assist the audio and video industries in marketing good brands and products to the world.”

Also, current Democratic Progressive Party legislator Wang Shih-chien was invited to give a violin performance and sing a Taiwanese song. The events at the Taipei World Trade Center proved to be quite a platform for the candidates running in the 2008 Taiwan Presidential Elections.

Friday, September 14, 2007

The Kennedy Center announced that its 30th presentation of the Kennedy Center Honors would go to pianist Leon Fleisher, comedian Steve Martin, singer Diana Ross, director Martin Scorsese and musician Brian Wilson. The Center was opened to the public in 1971 and was envisioned as part of the National Cultural Center Act, which mandated that the independent, privately-funded institution would present a wide variety of both classical and contemporary performances, commission the creation of new artistic works, and undertake a variety of educational missions to increase awareness of the arts.

In a statement, Kennedy Center Chairman Stephen A. Schwarzman said that “with their extraordinary talent, creativity and perseverance, the five 2007 honorees have transformed the way we, as Americans, see, hear and feel the performing arts.”

Fleisher, 79, a member of the Peabody Institute‘s music faculty, is a pianist who lost use of his right hand in 1965 due to a neurological condition. He became an accomplished musician and conductor through the use of his left hand. At 67, he regained the use of his right hand. With the advent of Botox therapy, he was once more able to undertake two-hand performances in 2004, his first in four decades. “I’m very gratified by the fact that it’s an apolitical honor,” Fleisher said. “It is given by colleagues and professional people who are aware of what [an artist] has done, so it really is apolitical — and that much more of an honor.”

Martin, 62, a comedian who has written books and essays in addition to his acting and stand-up comedy career, rose to fame during his work on the American television program Saturday Night Live in the 1970’s. Schwarzman praised his work as that of a “renaissance comic whose talents wipe out the boundaries between artistic disciplines.” Martin responded to the honor saying, “I am grateful to the Kennedy Center for finally alleviating in me years of covetousness and trophy envy.”

Ross, 63, was a product of Detroit‘s Brewster-Douglass Projects when as a teeager she and friends Mary Wilson and Florence Ballardis formed The Supremes, a ground-breaking Motown act. She portrayed singer Billie Holiday in the 1972 film Lady Sings the Blues, which earned her an Oscar nomination and a Golden Globe award. “Diana Ross’ singular, instantly recognizable voice has spread romance and joy throughout the world,” said Schwarzman. Ross said she was “taken aback. It is a huge, huge honor and I am excited to be in this class of people.”

Scorsese, 64, is one of the most accomplished directors the United States ever produced, whose work includes Mean Streets, Taxi Driver, GoodFellas, Cape Fear, The Last Temptation of Christ and The Departed, for which he won a 2006 Academy Award for Best Director after being nominated eight times. Scorsese said, “I’m very honored to be receiving this recognition from the Kennedy Center and proud to be joining the company of the very distinguished individuals who have received this honor in years past.”

Wilson, 65, along with his brothers Dennis and Carl, formed the Beach Boys in 1961. They had a series of hits that included “Surfin’ U.S.A.” and “Wouldn’t It Be Nice.” Their 1966 album Pet Sounds is considered one of the most influential recordings in American music. “This is something so unexpected and I feel extremely fortunate to be in the company of such great artists,” said Wilson, who is currently on tour.

The Kennedy Center’s board of trustees is responsible for selecting honorees for “lifetime contributions to American culture through the performing arts.” Previous honorees, including Elton John and Steven Spielberg, also submitted recommendations. A wide variety of people were under consideration, including Emanuel Ax, Evgeny Kissin, Renee Fleming, Laurence Fishburne, Francis Ford Coppola, Melissa Etheridge and Kenny Chesney.

President Bush and first lady Laura Bush will attend the center’s presentation at its opera house on December 2, 2007, which will broadcast on December 26 on CBS.