The Michigan Daily - michigandaily.com
Tuesday, September 21, 2010 - 3
NEWS BRIEFS
TRAVERSE CITY, Mich.
! Great Lakes nuke
shipment plan stirs
environmental fear
Environmentalists and some
local government officials are pro-
testing a Canadian power compa-
ny's proposal to haul 16 scrapped
generators with radioactive com-
ponents across three of the Great
Lakes on their way to a recycling
plant in Sweden.
Bruce Power Inc., based in
Kincardine, Ontario, is seeking a
license from the Canadian Nuclear
Safety Commission for the ship-
ment. It would depart from a port
on Lake Huron's Owen Sound
and also traverse Lakes Erie and
Ontario and the St. Lawrence
River before reaching the Atlantic
Ocean.
Commission staffers have rec-
ommended approval, saying the
shipment would pose little if any
threat to human health or the envi-
ronment. But complaints and ques-
tions from the public led the panel
to schedule a hearing for Sept.
28-29 in Ottawa.
WASHINGTON
Obama says gov't
remains committed
to Gulf recovery
President Barack Obama is call-
ing the successful "kill" for the
blown-out well in the Gulf of Mex-
ico a milestone in his administra-
tion's response to the disaster that
leaked hundreds of millions of gal-
lons of oil.
The federal government's point
man on the response, retired Coast
Guard Adm. Thad Allen, said Sun-
day that tests show BP's well "is
effectively dead" and poses no fur-
ther threat.
Obama said in a statement that
his administration remains com-
mitted to doing everything possible
to ensure that the Gulf Coast recov-
ers fully from the disaster.
Obama pledged that his adminis-
tration will continue to work close-
ly with people who live in the Gulf
region as they rebuild their liveli-
hoods andrestore the environment.
UNITED NATIONS
France calls on UN
to return to pledge
to fight poverty
The 10-year-old promise to lift
the world's poorest is unfulfilled
and with world economies claw-
ing back from the worst recession
since World War II, the French
president and others implored
leaders yesterday not to return to
their "old bad habits" of ignoring
global poverty.
Nicolas Sarkozy, the French
leader, was the first to accept U.N.
Secretary-General Ban Ki-moon's
challenge for nations to deliver
more resources to combat global
poverty, ignorance and misery.
He pledged to boost France's
annual $10 billion contribution
to the world's poorest people by
20 percent over the next three
years. He urged other leaders to
join him.
"We have no right to do less than
what we have decided to do," Sar-
kozy told more than 140 presidents,
premiers, princes and a king at the
opening of the three-day U.N. Mil-
lennium Development Goals sum-
mit. "Let us not fall back into our
old bad habits."
WASHINGTON
* Conservative wins
not expected to alter
Clinton's agenda
Secretary of State Hillary Rod-
ham Clinton says election wins
by supporters of the conserva-
tive tea party movement probably
wouldn't have much impact on
her diplomatic agenda.
In an interview for broadcast
Sunday on ABC's "This Week,"
Clinton says that regardless of the
outcome of this year's midterm
elections, she'll continue to make
the case that the international
efforts of the White House are in
"furtherance of America's inter-
est."
Clinton says she finds support
for national security, defense and
diplomatic efforts is bipartisan.
Regardless of what someone
may say when they're running for
office, Clinton says, they "become
very sobered, very quickly" about
the challenges facing the country,
both internationally and domesti-
cally, once they take office.
- Compiled from
Daily wire reports.
Promise of Fed. to help .
economy boosts stocks
Dow Jones average
jumps 146 points
to its highest close
since May 13
NEW YORK (AP) - Stocks
rose to their highest level in four
months yesterday as hopes grew
for more action by the Federal
Reserve to prop up the economy.
The gains extended the market's
rally into a fourth consecutive
week.
Buying accelerated after the
Standard & Poor's 500 index, the
market measure most often used
by professional traders, . broke
through the high end of its recent
range. Technical analysts see
that as a bullish sign.
The Dow Jones industrial
average jumped 146 points to its
highest close since May 13. An
announcement from a group of
economists declaring that the
recession ended in June 2009
was a mild positive, but that
assessment was in line with what
many analysts already believed.
Deal news also helped lift
shares. IBM Corp. said it would
buy data storage provider Netez-
za Corp. for about $1.7 billion in
cash. Investors see acquisitions
as a sign companies are more
comfortable spending cash to
expand, and suggests that other
stocks may also become targets
rate-setting committee could
relaunch programs to buy Trea-
surys and mortgage bonds in an
effort to stimulate the economy.
At the very least, it might hint at
future plans.
"The Fed will hint at it, put it
on the table, but not do anything,"
predicted Brian Gendreau, a
market strategist at Financial
Network Investment Corp.
A number of economic indi-
cators have topped forecasts in
recent weeks, propelling stocks
higher, but the economy is far
from strong. If the Fed starts
buying bonds again it could drive
interest rates lower, enabling
companies and consumers to get
cheaper loans. The Fed had a
similar bond-buying program in
place earlier this year.
The Dow Jones industrial
average rose 145.77 points, or 1.4
percent, to close at 10,753.62. The
Dow has now risen in 12 of the
last 14 days.
The Standard & Poor's 500
index rose 17.12, or 1.5 percent,
to 1,142.71. The Nasdaq compos-
ite rose 40.22, or 1.7 percent, to
2,355.83.
The S&P 500 climbed solidly
above the key technical level of
1,131, the high end of its recent
trading range. The S&P briefly
crossed that barrier on Friday
for the first time since June 21,
but not for long enough to con-
vince analysts that the market
had enough momentum to surge
Five stocks rose for every one
that fell on the New York Stock
Exchange, where consolidated
volume came to 3.9 billion shares.
Investors have been encour-
aged by better economic reports
this month, especially on jobs
and manufacturing, to send
stocks steadily higher in Septem-
ber. The Dow is up 7.4 percent in
the month to date, the S&P 8.9
percent. The gains have defied
predictions that September
would follow a historical pattern
of being dismal for stocks.
Investors also see hope in a
softer stance in recent weeks
by President Barack Obama's
administration about tax and
business-related programs.
Keith Goddard, co-manager of
the Capital Advisors Growth
Fund, said a shift in policy could
mean the Bush-era tax cuts will
be extended. That would help
dividend-paying stocks, which
have been in "no man's land"
recently because investors are
uncertain the tax rate they'll
have to pay on the dividends,
Goddard said.
Extending the tax cuts and
announcing other policies like
a payroll tax holiday could be
"worth a 10 percent move in the
stock market," Goddard said.
Deal news sent IBM shares up
$1.60, or 1.2 percent, to $131.79.
Its acquisition target, Netezza,
rose $3.67, or 14.9 percent, to
$28.27.
Ronnie Jamil, owner of Bella Vino Fine Wine and Spirits in Farmington Hills, Mich.,
holds up a can of Four Loko Cranberry Lemonade alcohol energy drink, left, and
Arizona Iced Tea and Mango drink.
Alcoholic energy.1
drinks under
reviewerby Mi'ch.
Labels of stimulant
alcoholic drinks
scrutinized by state
longer - it was something they
needed to start to address," said
Steven Schmidt, spokesman for
the National Alcohol and Bever-
age Control Association.
Last year the FDA notified
for buyers. higher. Bond edged higher as inves- DETROIT (AP) - Got caf- about two dozen alcohol-energy
The Fed meets today to discuss Many automatic buy and sell tors await word from the Fed. feine? Got alcohol? drink makers that the agency has
interest rates, and investors are orders are set around market The yield on the benchmark If they're blended in the same never specifically approved the
hoping for a sign that the central milestones such as these, and 10-year Treasury note, which beverage and sold in stores, then addition of caffeine to alcoholic
bank might make more moves to investors watch those levels moves opposite its price, fell to Michigan's Liquor Control Com- drinks. Officials noted a Wake
keep rates low. There is a grow- closely for clues about which way 2.70 percent from 2.74 percent mission is looking at the label. Forest University study that stu-
ing expectation that the Fed's the market may go next. late Friday. The state regulatory agency dents who combine those ingre-
unanimously passed a motion dients are more likely to suffer
this month to examine the pack- alcohol-related injuries than
aging of flavored alcoholic drinks those drinking alcohol without
with caffeine and other stimu- caffeine.
U .S . u rg e s I lants. Michigan is among the first Democratic U.S. Sen. Charles
states to independently target the Schumer of New York recently
" " drinks, which are also under fed- sent a letter to the Federal Trade
itt I 131 \.reg 1 tio lseral scrutiny over concerns about Commission urging it to investi-
health effects and whether they gate the marketing of the drinks.
are marketed to minors. He said the colorful cans are
US plans to keep its intentions," U.S. Energy Sec- ing the latest round of Security "We have directed our staff to designed to confuse parents and
retary Steven Chu told delegates Council sanctions "unjustified bring to us these alcohol-energy police with labels that resemble
pressuring Iran over in Vienna for the IAEA'S General and illegal." drinks that have a stimulant. nonalcoholic energy drinks and
Conference. IAEA chief Amano also said We're goingto look at their labels other beverages.
nuclear program While Washington remains North Korea's nuclear program and see if they are in any way The Associated Press left mes-
committed to pursuing a diplo- remains "a matter of serious con- confusing or misleading," said sages seeking comment from
VIENNA (AP) - The United matic solution, Chu said it was cern" and efforts should be made commission chairwoman Nida Chicago-based Phusion Projects
States will continue to pressure clear there was a "broad and to resume talks on it. Samona. Inc., maker of Four Loko, and
Iran to meet its international growing international consensus The autocratic Asian state "We believe that these prod- La Mesa, Calif.-based United
commitments and come clean that will hold Iran accountable if has not permitted the Vienna- ucts sometimes are misleading Brands Co., which makes Joose.
about its nuclear program, a it continues its defiance. based watchdog to implement people. ... You've got an upper United Brands Chief Execu-
senior U.S. official said Monday "We will continue to pressure safeguards in the country since and a downer all in one package." tive Michael Mikhail has said
as diplomats gathered for the the Iranian government to fulfill December 2002 and no inspec- Under the mule, the Liquor the company markets nation-
U.N. nuclear agency's annual its international commitments," tors have been allowed in since Control Commission can inform ally through beer distributors
meeting. Chu said. April, making it impgsible for a manufacturer if regulators find and targets consumers who can
Iran is under four sets of U.N. Washington's strong words inspectors to report > about its labels or packages do not clearly legally drink alcohol.
Security Council sanctions for followed similar comments by atomic activities, Amano said. show the presence and percent- Ronny Jamil, who co-owns
refusing to stop its uranium the European Union. North Korea walked out of age of alcohol and other stimu- Bella Vino Fine Wine and Spirits
enrichment and ignoring other Paul Magnette of Belgium, international talks onrestarting lants. The beverage maker then in the Detroit suburb of Farm-
U.N. demands meant to ease whose country currently holds negotiations on its nuclear disar- has 90 days to make changes and ington Hills and three other area
global concerns that it is seeking the bloc's rotating presidency, mament last year to protest inter- submit it for approval. stores that sell alcoholic bever-
to make atomic weapons. said the EU has urged Iran to national criticism of a long-range "If they don't comply, it comes ages, offers several different vari-
Last week, Yukiya Amano, the address the IAEA's concerns rocket launch. off the shelves," Samona said. eties of the alcohol-energy drinks
head of the International Atomic and to meet with members of the "I again call on all parties con- Michigan joins such states as and said they can be confusing.
Energy Agency, said he cannot international community "with cerned to make concerted efforts California, Montana and Utah "Even when you stand at the
confirm that all of Iran's nuclear the ultimate goal of establishing for a resumption of the six-party that have instituted rules or counter, first you think they're
activities are peaceful, as Teh- a comprehensive relationship." talks," Amano said. limited access to the category of juice cans - you wouldn't even
ran claims, because the country Meanwhile, the head of Iran's Amano also mentioned the drinks often sold in single cans look at them as liquor," Jamil
has only selectively cooperated nuclear program, Ali Akbar failure of Iran and Syria to fully containing hip, colorful designs. said.
with the U.N. watchdog and has Salehi, said the IAEA was suffer- comply with his agency. Many other sittes have called Jamil said he considers the
rejected several nuclear inspec- ing from a "moral authority and "My basic approach has been on the federal government to alcohol content to be appropri-
tors. credibility crisis." that all safeguards agreements investigate and are waiting for ately clear and big on the label.
"Iran must do what it has thus "Certainly, the uncivilized between member states and the the results of a'health and safety Still, he stocks the alcoholic
far failed to do - meet its obliga- double-track approach of threat agency and other relevant obli- study by theV.S. Food and Drug energy drink cans with beer and
tions and ensure the rest of the and dialogue ... cannot be condu- gations should be implemented Adminiistration. believes it would lower risks if
world of the peaceful nature of cive and fruitful," he added, call- fully," he said. IM)icl sga' couldn't wait any they resembled each other.
Thousands flee as Yemeni forces clash with al-Qaida
United States aids
Yemeni forces in
anti-terrorist fight
SAN'A, Yemen (AP) - Thou-
sands of people have fled a village
in southern Yemen where security
forces are laying siege to al-Qaida
militants, a security official said
yesterday, signaling an escalation
in the government's U.S.-backed
campaign to uproot the terror net-
work's local offshoot.
Government forces have moved
into the village of Hawta with
tanks and armored vehicles and 90
percent of its residents have fled,
said Abdullah Baouda, police chief
for the surrounding district.
One family fleeing Hawta said
forces have shelled the village
indiscriminately for the past two
days to flush out the militants.
Troops also fired on vehicles of
residents fleeing the village and
another nearby trouble spot, the
city of Lawder, killing two civil-
ians and wounding three others,
according local government and
medical officials.
Hawta is in Yemen's moun-
tainous Shabwa province, one the
areas where al-Qaida in the Ara-
bian Peninsula has taken rootover
the past year and a half beyond the
reach of a weak central govern-
ment that has little control beyond
the capital.
The United States is deeply
concerned about the threat from
Yemen's al-Qaida branch. The
group claimed responsibility for
the December attempt to blow up
a Detroit-bound airliner, linking
the plot to Yemen's cooperation
with the U.S. military in strikes on
al-Qaida targets.
The U.S. has shared intelligence
and provided financial aid and
training to Yemeni forces, generat-
ing backlash among Yemenis who
feel their government is too closely
allied with America.
Around 120 al-Qaida militants
are believed to be taking refuge
in Hawta, the police chief said.
Three militants were killed and
four were wounded in the fighting,
said the provincial governor, Ali
Hassan al-Ahmadi. One anti-ter-
rorism officer was injured, he said.
"The siege will remain until
those elements hand themselves
in and we manage to uproot ter-
rorist groups from the region," al-
Ahmadi said.
Soldiers from the anti-terrorism force of the Yemeni Defense Ministry take part in an exercise in a training camp at the Sarif
district, north of the capital San'a.
For months, al-Qaida in the
Arabian Peninsula has hammered
Yemen's security forces in attacks
on checkpoints and other security
outposts.
The group said in an Internet
statement yesterday thatitabduct-
ed a senior security official and
demanded the release of two of
its imprisoned members within
48 hours. Brig. Ali Hossam disap-
peared Aug. 26. The group did not
say what it would do if its demand
was not met.
Yemen's government has had
trouble gaining control of areas
in the south that are under the
control of powerful tribes, some
sympathetic to al-Qaida and other
Islamic militants roaming the
area.
Yemen is the poorest nation
in the Arab world and is beset
by other major internal security
threats - an on-and-off rebellion
on the north and a separate seces-
sionist movement in the south.