PrevNextGallery IndexImage 18 of 30
© Matt LawTaboo of the Black Eyed PeasTaboo of the Black Eyed Peas arrives on the red carpet for the 2006 MTV Video Music Awards.PrevNext
From: top40.about.com
FRANKFURT, Germany —
Tire and auto parts maker Continental AG on Wednesday rejected a takeover offer worth some 11.2 billion euros ($17.9 billion) from smaller rival Schaeffler KG, arguing that it did not reflect Continental’s full value.
Family-held Schaeffler said in a regulatory filing with the German stock exchange on Tuesday that it was offering 69.37 euros ($110.58) a share for Continental, which has about 161 million outstanding shares.
Continental said its executive board rejected the offer.
“The offer is highly opportunistic, does not come close to the true value of Continental, does not create trust and lacks a convincing strategic rationale,” it said in a statement.
Continental’s rejection came after two days of big gains for its shares after news of Schaeffler’s interest emerged at the weekend. The shares initially fell on Wednesday, but were up 0.3 percent at 73.70 euros ($117.92) in midday Frankfurt trading.
If the takeover effort is successful, it would make Schaeffler the world’s biggest auto component maker, putting it ahead of competitors like Robert Bosch GmbH.
Hannover-based Continental said it was willing to support Schaeffler taking up to 20 percent of the company, but that Schaeffler “insisted on a controlling stake of more than 30 percent.”
It accused Herzogenaurach-based Schaeffler of taking advantage of a weak equity market and of securing access to 36 percent of its stock “in an unlawful manner” through derivative positions and collaborating banks.
Continental argued that it has sufficient potential of its own and would not benefit from a tie-up.
Schaeffler did not immediately return calls seeking comment on Wednesday.
However, it said in a statement late Tuesday announcing the takeover offer that its ultimate aim was a “strategic shareholding” of more than 30 percent - not necessarily a majority.
It said its offer corresponds to Continental’s weighted average share price over the past three months “and is thus viewed as fair consideration.”
At least 15 people were killed and 90 wounded Wednesday when a car bomb exploded in a popular outdoor market in northern Iraq, a police official said.
The bomb, which went off around 7 p.m. in the al-Talia neighborhood of Tal Afar, appeared to target civilians at the market, the official said.
Tal Afar is 43 miles west of Mosul, the site of two other bombings on Wednesday.
Two people were killed and eight wounded in the first explosion in an outdoor market near central Mosul around 4:30 p.m., the official said.
Thirty minutes earlier, a car bomb exploded near a U.S. military convoy in eastern Mosul. Five bystanders were wounded, the police official said.
Elsewhere in Iraq this week, a U.S. Marine died from injuries sustained in combat, the military said Wednesday.
The Marine was hurt Monday in Anbar province of western Iraq in "action against an enemy force." The name of the Marine has not been released.
Anbar was the site of intense violence between Sunni insurgents and U.S. Marines early in the year, but bloodshed has ebbed there as Sunni tribal leaders turned on al Qaeda in Iraq.
The Marine is the fifth member of the U.S. military to die in Iraq in July. Last month, 29 service members died in Iraq.
From: rss.cnn.com
NEW YORK (CNNMoney.com) — The housing finance crisis and spiraling energy costs will remain a drag on the U.S. economy for the rest of the year, Federal Reserve Chairman Ben Bernanke told lawmakers in a gloomy presentation about the economic outlook.
"The economy continues to face numerous difficulties, including ongoing strains in financial markets, declining house prices, a softening labor market, and rising prices of oil, food, and some other commodities," Bernanke told the Senate Banking Committee early Tuesday.
The nation’s top central banker warned "many financial markets and institutions remain under considerable stress, in part because the outlook for the economy, and thus for credit quality, remains uncertain."
The Senate panel was meeting to hear from Bernanke about the economy and to consider the crisis at mortgage finance giants Fannie Mae and Freddie Mac, as well as growing fears about bank failures.
Shares of Fannie and Freddie on Tuesday continued the recent slide that has prompted the Treasury Department and Fed to step in and offer support.
Shares of Fannie (FNM, Fortune 500) plunged 27% on Tuesday, leaving them 64% lower this month. Freddie (FRE, Fortune 500) shares tumbled 26%, leaving them down 68% in July. Both have lost more than 80% of their value since the start of the year.
Bernanke: "Financial headwinds’Bernanke said the financial sector’s problems are not the only problems facing the economy. "The financial headwinds on spending and economic activity have been compounded by rapid increases in the prices of energy and other commodities," he warned.
The combination of rising commodity prices and tighter credit "has sapped household purchasing power even as they have boosted inflation," Bernanke said.
Bernanke added that spending has held up better than expected, helped by the Treasury’s economic stimulus program, which has so far pumped $92 billion into the economy. At the same time, he warned that spending by consumers "seems likely to be restrained over coming quarters" and that businesses also are likely to be cautious with spending plans.
He also expressed concerns about rising inflation risks due to high commodity prices, suggesting that the Fed might not be able to take steps to support economic growth because of the risk that they would feed inflation pressures.
Despite Bernanke’s gloomy outlook - his most pessimistic since he took office in 2006 - he said the Fed had raised its forecast for overall economic growth. It is now looking for 1% to 1.6% growth for all of 2008, up from its April forecast of 0.3% to 1.2% growth.
While the forecast did not break down the growth by quarter, he said he did not expect any robust growth over the next six months. Bernanke said the revision in the full-year forecast was caused by stronger-than-expected growth in the first two quarters of 2008, helped by the stimulus checks that goosed spending in the second quarter.
Three weeks ago, the Fed left interest rates unchanged for the first time in nine months as it said the risks of an economic slowdown appear to have diminished. But his comments about the economy in the second half of the year seemed much more bearish than suggested in that Fed statement. Bernanke said that while he believed there would be second-half economic growth, he thought it would be weak.
His comments helped feed a sell-off in oil prices Tuesday, as traders started pricing in lower U.S. consumption of oil in the second half of the year.
Bernanke’s testimony came as part of his regularly-scheduled semi-annual testimony on the state of the economy. The committee was set to joined by Treasury Secretary Henry Paulson and Christopher Cox, chairman of the Securities and Exchange Commission, for a second hearing Tuesday about Fannie Mae and Freddie Mac.
Mortgage market in cross-hairsMortgage finance giants Fannie and Freddie are a key source of funding for banks and other home lenders. Their ability to provide that funding is seen as a key to any recovery in housing and the economy as a whole.
The companies were set up by Congress, but they are owned by shareholders, who have fled the firms’ stock recently on fears that continued problems in housing and rising mortgage defaults will force them to seek significantly more capital, a move that would dilute the value of existing shares.
Problems in the banking and home lending sectors were further highlighted by the failure of IndyMac, a California bank that was taken over by the federal government Friday evening in what could end up being the most costly bank failure in U.S. history. Stocks of many major regional banks plunged Monday on concerns over more failures.
IndyMac had been a major provider of mortgage loans that did not demand lenders to provide full or any documentation of their income. There are likely to be questions about the state of banking and the risk of more failures at Tuesday’s hearings.
Sunday evening Paulson announced a proposal by Treasury to have Congress raise the $2.25 billion it is allowed to loan the two firms, and even open the door for the federal government to buy shares in the two companies if needed. The Fed announced it stood ready to loan money to the firms if they needed access to funds ahead of congressional actions.
Bernanke, in response to a question from Sen. Richard Shelby, R-Ala., said he felt that IndyMac "was particularly weighed down with low-quality mortgages. In that respect its failure, barring acquisition by another firm that didn’t occur, was inevitable."
But he added that the banking system is well capitalized. "My concerns have turned less on the solvency of the institutions and more on their ability to provide credit necessary to keep the economy growing."
Bernanke said he believed that home building was likely to finally end its slide later this year or early next year, but that the decline in housing prices could continue longer than that, although he said he couldn’t predict when, or at what level, they will find a bottom. First Published: July 15, 2008: 9:32 AM EDT
After a decade and three full-length CDs, the British extreme metal band Gorerotted decided to change their name to The Rotted for a couple different reasons. There are several new members, with only vocalist Ben McCrow and bassist Wilson remaining from their last CD. The band also decided to take a different lyrical direction, steering away from the gore and horror lyrics of the past and toward more real life experiences.The Rotted’s sound has changed somewhat on They still play intense death metal mixed with grindcore, but it’s more focused and precise than ever before. Razor sharp riffs are played at warp speed, but The Rotted’s dual guitar attack of Tim Carley and Gian Pyres is also able to throttle back and get into a tight groove.
New drummer Nate Gould also excels. He has no problem flailing away with a barrage of blast beats one moment, then playing crisply with controlled fury the next. The songs on this CD are a nice mix of grind, technical death metal and even slower downtuned doomy parts. Things wrap up with a trippy instrumental that’s slow and psychedelic.
McCrow does almost all the vocals on after sharing duties for many years. He has no problem shouldering the load, as he runs the gamut from guttural roars to primal screams. In examining the lyrics, which are now based on real experiences, it’s obvious he has a few demons.
By changing their name, The Rotted were able to leave their past behind and begin anew. They’re off to a great start with a more mature and interesting but still brutal CD.
(released July 8, 2008 on Metal Blade Records)
From: heavymetal.about.com
| George Bush Fun Trivia Quiz | |
|
20 Trivia Questions to Test Your Bush Knowledge |
<< Return to Beginning
Email This Trivia Quiz to a Friend
Related Links
Bush Loyalty Quiz
Bushisms Quiz
Political Loyalty Quiz
Top 50 Funny Bush Quotes
100 Best Bush Jokes
More Bush Humor
More Political Quizzes
From: politicalhumor.about.com
Cocktail buns - Also known as coconut buns, these have a sweet buttery coconut filling. The recipe fills 6 buns.Ingredients:Coconut Filling:1 1/3 cups (325 ml) coconut flakes 1 tablespoon (15 ml) granulated sugar 2 tablespoons (30 ml) hard margarine or butter, melted1 large egg yolkOther:1/2 Prepared basic dough (see directions for link to recipe)Egg Wash:1 large egg1 tablespoon (15 ml) waterHoney Wash:1 tablespoon (15 ml) liquid honey1 tablespoon (15 ml) waterPreparation: Directions for Cocktail Buns: 1. Coconut Filling: Process coconut and sugar in blender or food processor until very fine. Turn into small bowl.
2. Stir in margarine and egg yolk until paste-like consistency. Makes scant 2/3 cup (150 ml) filling.
3. Divide dough into 6 portions. Press and stretch each portion into 5 X 3 inch (12.5 X 7.5 cm) oblong shape. Place rounded 1 1/2 tablespoon (25 ml) filling lengthwise along centre of each piece. Bring long sides up and over filling, pinching all edges together to seal. Place, seam-side down, on greased baking sheet. Cover with greased waxed paper and tea towel. Let stand in oven with light on and door closed for about 1 hour until doubled in size.
4. Egg Wash: Beat egg and water together with fork in small cup. Brush over buns. Bake in 350 degree Fahrenheit (175 degree Celsius) oven for 15 to 18 minutes until golden brown.
5. Honey Wash:Combine honey and hot water in separate small cup. Brush over warm buns. Serve warm. Makes 6 buns.
To Make Ahead: Dough may be made the day before and stored, covered, in refrigerator overnight. Baked buns may be frozen and reheated, wrapped well in foil, in 350 degree Fahrenheit (175 degree Celsius) oven for 15 minutes.
Nutritional Breakdown: 1 bun, 316 calories, 15.4 g. total fat (5.6 g Monounsaturated fat, 2 g. Polyunsaturated fat, 6.6 grams saturated fat, 90 mg. cholesterol, 39 g. carbohydrate, 1 g. fiber, 6 g. protein, 206 mg sodium
This recipe is reprinted with permission from Chinese Cooking (Company’s Coming).
From: chinesefood.about.com
The Boilermaker is as popular as the Irish Car Bomb and Jäger Bomb and has the same ability to get you drunk very quick, making it a popular party drink. When drinking dropped shots one needs to take care not to get too wild (although that’s a rarity in this case). Shot glasses floating freely inside the bigger glass have been known to chip many teeth, so consider yourself warned. That hazard and the intoxicating effect of downing beer and whiskey so quickly deems the Boilermaker worthy of only the bravest (or craziest) of drinkers.Ingredients:15 oz draft beer (lighter is best)1 ½ oz blended whiskeyPreparation: Pour a shot of whiskey in a shot glass. Fill a pint glass with beer. Drop the shot glass into the beer and down everything in one drink.
From: cocktails.about.com
"That was so sweet, because at the reception, President Bush danced with his lovely daughter. It’s the first time he has led in eight years." –David Letterman
"Beautiful wedding down there in Crawford, Texas. They had a great time. And everybody enjoyed a lovely reception. And Bush danced with all the guests. And then Cheney shot the cake." –David Letterman
"Jenna Bush is getting married over the weekend. But she did not sign a prenup. Apparently, the family doesn’t believe in exit strategies." –Craig Ferguson
"Jenna Bush is getting married tomorrow in Crawford, Texas. And Vice President Dick Cheney will be there, so it’s going to be a shotgun wedding." –David Letterman
"I thought this was nice. For their wedding night, President Bush is loaning the groom his ‘Mission Accomplished’ banner." –David Letterman
"President Bush’s daughter Jenna is getting married in Crawford, Texas. It will be a relatively small affair. Only her family’s loved ones will be there: the CEOs of the five major oil companies." –Jay Leno
"Boy, that’s got to be every girl’s dream, getting married in Crawford, Texas. And to add a little icing to the cake, I understand they’re going to be honeymooning in Plano." –Jay Leno
"Here’s an interesting fact about the wedding a lot of people didn’t know. Since her father’s approval rating is only 29 percent, she’s asked John McCain to give her away." –Jay Leno
"This weekend, in Crawford, Texas, at the Bush family ranch, one of president Bush’s daughter, Jenna, will be getting married. As a matter of fact, tomorrow she is getting married. And I thought this was cute. Because the groom went to President Bush and he asked President Bush for his daughter’s hand in marriage. And President Bush said, ‘Well, it’s okay with me, but you gotta run it by Cheney.’" –David Letterman
"Best wishes to President Bush’s daughter, Jenna. She’s getting married this weekend. I understand both John McCain and Dick Cheney will attend. That way they’ll have something old and something blue." –Jay Leno
"Hey, you know who is getting married this weekend? One of the Bush sisters. Jenna Bush is getting married this weekend at her father’s place in Crawford, Texas. And this is no surprise: the $2 billion ice sculpture contract went to Halliburton." –David Letterman
"But it’s a big deal. I mean, when there’s a family wedding, I mean, it’s great, isn’t it? Everybody gets in the big family wedding spirit, and everybody is helping out with the big Jenna Bush wedding. As a matter of fact right now, right now, Dick Cheney is waterboarding the groom." –David Letterman
"Hey, President Bush’s daughter Jenna is getting married this weekend. There’ll be 200 guests at the wedding, which, according the latest polls, means that 140 of those people at the wedding disapprove of the job President Bush is doing." –Jay Leno
"The good news is that President Bush’s daughter, Jenna Bush, is engaged. The bad news is she is marrying Rudolph Giuliani. … Dick Cheney is hoping for a shotgun wedding. … Jenna announced her engagement two weeks ago, although President Bush knew about it over a month ago from some wiretaps. … If you’d like to get the young couple something for the wedding, they are registered at Mobil, Exxon and Shell." -Jay Leno
"One of the president’s daughters, the lovely Jenna Bush, is getting married. Now they’re thinking, if they can just marry off Condoleezza Rice. Yea, it looks pretty good that Jenna’s getting married, but first the guy has to be confirmed by Congress. … It’s going to be an expensive wedding. I guess it’s no surprise, the $3 billion contract went to Halliburton." –David Letterman
"The president’s twin daughters are celebrating their 25th birthday with a trip to Argentina. Apparently their trip has caused what’s known as chaos, to the point where, according to ABCNews.com, the American embassy and many Argentinian officials have strongly suggested the twins return to America. Just to repeat, Argentina, former safe-haven for Nazi war criminals, is drawing the line at the Bush twins." –Jon Stewart
"Security’s so bad for the Bush twins, the U.S. Embassy has asked them to leave Argentina and they said no. Like father, like daughter, they have no exit strategy." –Jay Leno
"After stories about them being robbed and partying at their hotel made national headlines, U.S. officials reportedly want the Bush twins, Jenna and Barbara, to leave Argentina. Meanwhile, other officials say the best way to solve the problem is by sending more Bush twins to Argentina." –Seth Myers
"First Daughter Barbara Bush had her purse stolen. Somebody snatches her purse. What was in that purse, her father’s plan for Iraq. Now we have to start all over again. A lot of people wondering if President Bush will be mad at his daughter for losing her purse. Hey, he lost the House and Senate." –Jay Leno
From: politicalhumor.about.com
HAVANA Pedro Pablo Perez, a star Cuban cyclist who competed at the Sydney Olympics, was in a coma after a car crash and will miss the Beijing Games.
The 31-year-old rider sustained “cerebral … lacerations and remains in a coma” following Monday’s accident in San Cristobal in the western province of Pinar del Rio, the Communist Party newspaper Granma said Tuesday. It was unclear if he was a driver or passenger.
A spokesman for the national cycling team declined comment.
Perez took part in the road race at the 2000 Games and had qualified for Beijing. He medaled at the 1999 and 2003 Pan American Games and this year won his fifth Tour of Cuba.
He is married to Yoanka Gonzalez, the 2004 world champion in scratch cycling. She was not there at the time of the crash.
