Insure Success: The Living Legend an Icon, A Phenomenon…World Mourns Michael Jackson Hails”Heir to Elvis”: How Do YOU Want to be Remembered?!?!?

Fri Jun 26, 2009 7:22am EDT

By Bob Tourtellotte and Mike Collett-White

LOS ANGELES/LONDON (Reuters) – Michael Jackson’s death dominated news bulletins, radio airwaves and social networking sites the world over on Friday as tributes poured in for a man called the “King of Pop” and “natural heir to Elvis.”

The 50-year-old, whose towering musical legacy was tarnished by often bizarre behavior and sex scandals, was pronounced dead at 2:26 p.m. PDT (2126 GMT) on Thursday after arriving at a Los Angeles hospital in full cardiac arrest.

“King of pop is dead. Black day for music,” was the simple message left by “johnyvergosa” on the Twitter messaging site, where Jackson accounted for four of the five top topics. Actress Farrah Fawcett, who also died on Thursday, was the fifth.

Other online contributors expressed disbelief at the suddenness of Jackson’s death, less than three weeks before he was due to launch a series of comeback concerts in London.

The singer’s lasting appeal, despite life as a virtual recluse since his acquittal of child abuse charges at a 2005 trial, was underlined when 750,000 fans of all ages snapped up tickets for the sellout gigs.

From “Thriller” to “Billie Jean” and “Rock With You” to “The Way You Make Me Feel,” Jackson’s hits filled the airwaves.

Local politics and global affairs were bumped off the front pages of newspapers, trading rooms were abuzz with the news and entertainment websites saw a surge in traffic.

“The King of Pop is Dead” read the main headline of Britain’s Independent newspaper, below a full-page portrait.

Rina Masaoka, a 21-year-old college student in Japan, said: “This will probably be as shocking as Princess Diana’s death.”

Ray Cordeiro, an octogenarian radio disc jockey in Hong Kong who has been on air for around half a century, called Jackson “a genius” and a “legend in our lifetime.”

Former Beatle Paul McCartney said in a statement: “It’s so sad and shocking. I feel privileged to have hung out and worked with Michael. He was a massively talented boy man with a gentle soul. His music will be remembered forever.”

FLAWED GENIUS

Commentators reflecting on Jackson’s life focused on his flaws as well as his global fame and musical flair.

“Broken and broke: the child star haunted by fame and scandal” read a profile in the Guardian newspaper, which called him “the natural successor to Frank Sinatra and Elvis Presley.”

Jackson sold an estimated 750 million records, a figure that is likely to rise with the expected posthumous re-release of his hits. “Thriller,” which came out in 1982, remains the best-selling album of all time. 

Jackson also won 13 Grammy Awards, made boundary-breaking music videos and his slick dance moves were imitated by legions of fans, and fellow pop stars, around the world.

But his preference for the company of children, high-pitched voice, numerous plastic surgeries and life as a virtual recluse earned him many critics and the nickname “Wacko Jacko.”

When he came to London to announce his residency at the O2 Arena starting on July 13, bookmakers immediately took bets on whether he would turn up for the first show, amid concerns and rumors over his physical and mental health.

His sudden death, nevertheless, came as a surprise.

“I spoke to Michael only a few days ago and he was absolutely on top of everything, working hard and really excited about (the) forthcoming shows,” said Mark Lester, a former child actor and godfather to Jackson’s children.

Quincy Jones, who worked closely with Jackson on some of his most successful recordings, led tributes from the music world.

“I am absolutely devastated at this tragic and unexpected news,” he said of one of the first black entertainers of the MTV generation to gain a big crossover following.

Pop star Madonna said: “I can’t stop crying over the sad news … I have always admired Michael Jackson. The world has lost one of the greats but his music will live on forever.”

Germany’s Economy Minister Karl-Theodor zu Guttenberg, speaking in front of the Adlon Hotel where in 2002 Jackson caused a stir by dangling his baby from a top floor window in front of adoring fans, described Jackson as a great artist.

“But his life was also rather tragic in the end … That’s why I hope his whole life is taken into account when reflecting upon his death and not only the last few years.”

(Writing by Mike Collett-White; additional reporting by Reuters bureau; Editing by Jon Hemming)

Bleed Ambition: What Do YOU Stand For? : Neda’s Killing Propels Iran’s Women to More Opposition Protests

By Ali Sheikholeslami and Caroline Alexander

June 23 (Bloomberg) — A young woman who was shot through the heart and died on the streets of Tehran has become the face of the opposition movement in Iran.

Neda Agha Soltan was killed by a Basij militiaman during a protest march on June 20, according to people who said they were eyewitnesses and posted videos of her death on the Internet. The videos on Facebook and YouTube show her collapsing, losing consciousness and dying.

Her death has resounded worldwide and become a symbol of the crackdown by Iranian authorities against demonstrations over President Mahmoud Ahmadinejad’s disputed re-election. Police used tear gas and batons to disperse about 1,000 people who had gathered in Haft-e Tir Square in central Tehran yesterday to mourn the young woman.

“The violence of the regime has intensified. They are trying to create a regime of terror,” said Mohammad-Reza Djalili, an Iran expert at the Graduate Institute of International and Development Studies in Geneva. “The future will be marked by this horrible chain of events,” he said of Soltan’s killing.

Soltan was among countless women, of all ages and from all backgrounds, who have taken to the streets to demand a recount of the presidential vote they believe was won by Mir Hossein Mousavi, a former prime minister. Mousavi made his wife, Zahra Rahnavard, a feature of his campaign and promised to give women more rights.

34 Million

Addressing crowds earlier this month, Rahnavard said that “Thirty-four million women demand to have female cabinet ministers, 34 million women demand to be eligible to run for president, 34 million women want the civil law to be revised, 34 million women want the family law revised.”

At least four Facebook pages have been dedicated to Soltan, and more than 50 members of the social networking site have changed their user names to Neda Agha Soltan. She is being called a hero and a martyr by Iranians from all walks of life.

Mourners were prevented from holding a remembrance ceremony in a mosque, and Soltan’s family was told to take down a black banner they had hung outside their home, the Los Angeles Times reported.

“Neda had said that even if she lost her life and got a bullet in her heart, she would carry on,” Caspian Makan, Soltan’s fiancé, told the British Broadcasting Corp.’s Persian Television by phone from Tehran. “She gave a big lesson to every one even though she was very young.”

Philosophy Student

Seventeen people have been killed in the protests, according to Iranian state television. The Basij are a volunteer militia linked to Iran’s Revolutionary Guards

Soltan was a 27-year-old philosophy student, according to the text of the version of the video on YouTube. Heat and frustration led Soltan and her music teacher to abandon the car they were riding in. Minutes later, the student was shot. She died in just two minutes, according to the text of the video on YouTube.

Iranian bloggers keep paying tribute to Soltan. One blogger has written about the melancholy of the “alley of loneliness,” where Soltan was shot. Photos of the flowers left in memory of Soltan are posted on the blog.

“He had a clear shot and could not miss her,” wrote a man who said he was a doctor and posted one of the videos showing Soltan’s death, referring to the gunman. “The impact of the gunshot was so fierce that the bullet had blasted inside the victim’s chest.”

Video Screams

The author Paul Coelho said on his blog that he is best friends with the doctor, and that his friend had tried to resuscitate the young woman.

On the video, as blood pours from Soltan’s eyes, nose and mouth, screams are heard and a small crowd gathers around her limp body.

“Neda, don’t be afraid; Neda stay with me,” says a man standing nearby, who has been identified as her music teacher.

The killing took away any “vestige of respect” people had for Supreme Leader Ayatollah Ali Khamenei, who has called for an end to the protests and allied himself with Ahmadinejad, because “a spiritual leader should not be leading carnage,” said Haleh Afshar, a professor of politics and women’s studies at University of York.

Seeing the video of Soltan’s death has left Zahra Khedri, a 24-year-old Iranian postgraduate student at the U.K.’s University of Essex, feeling numb and shocked, she said.

“It could be me, simple as that,” said Khedri. The video “will help us with the support we need. Ahmadinejad must not be recognized.”

To contact the reporters on this story: Caroline Alexander in London at calexander1@bloomberg.net; Ali Sheikholeslami in London at alis2@bloomberg.net.

Last Updated: June 23, 2009 06:47 EDT

Insure Success: Rags to Riches of Week: Sheldon Adelson

Sheldon Adelson, United States

Net worth: $26.5 billion

Age: 73

Son of a Boston cabdriver borrowed $200 at age 12 to start selling newspapers. Later did stints as a mortgage broker, investment advisor and financial consultant. The high school drop out and Broadway enthusiast studied voice in his teens, but it was another kind of stage that called him: trade shows, where he made his first fortune. Later gambled on casinos in Las Vegas, Macau and Singapore. Took his Las Vegas Sands public in December 2004. Says Adelson, ”I loved being the outsider.”

Forbes.com

(Second L of the Week: War Veterans Might Have HIV?) Report: VA Facility Improperly Sterilized Colonoscopy Equipment

An internal investigation out today finds that fewer than half of Veteran’s Affairs facilities selected for random inspections had properly sterilized medical equipment used to perform colonoscopies, despite orders to comply with safety guidelines.

The Veterans Affairs inspector general report(pdf) follows revelations that VA hospitals in Florida, Georgia and Tennessee possibly exposed 10,320 veterans to hepatitis B, hepatitis C or HIV by not properly cleaning equipment. As of today, 13 of those veterans have tested positive for hepatitis B, 34 for hepatitis C and six for HIV, according to the VA.

The investigation focused on the sterilization of reusable flexible fiberoptic endoscopes (FFEs), which must be thoroughly rinsed and flushed after use and then stored in a dry, well-ventilated area. Any deviation from the sterilization process puts future patients at risk of infection, according to the report.

VA investigators visited the three medical facilities and made random, unannounced visits to 42 other medical centers in recent months to evaluate procedures.

“The failure of medical facilities to comply on such a large scale with repeated alerts and directives suggests fundamental defects in organizational structure,” the report concludes.

Investigators unveiled their findings this morning at a House Veterans’ Affairs committee hearing on the matter, where lawmakers sharply criticized the department.

Committee Chairman Bob Filner (D-Calif.) praised the VA for its transparency on the issue, but warned, “There will be a public accounting of this situation.”

“There is no question that shoddy standards — systemic across the VA — put veterans at risk and dealt a blow to their trust in the VA,” Rep. Harry E. Mitchell (D-Ariz.) said at the hearing. “And I’ll say it again, whether or not any veterans contracted illnesses from these procedures, it is outrageous that they even have to worry about that possibility.”

In a statement, VA Secretary Eric K. Shinseki said he remains personally committed to the well-being of the nation’s veterans.

“It is unacceptable that any of our veterans may have been exposed to harm as a result of an endoscopic procedure. When we discovered this problem, stemming back to 2003, I initiated an internal, national review process to evaluate the standard of health care for our Veterans.”

In the past week, the department has taken several steps to ensure that employees and supervisors are trained and qualified to handle endoscopy equipment, according to officials. By the end of July, the department will make unannounced inspections of facilities using the equipment, ensuring that each facility is fully qualified. It will also undertake a two-year review of endoscopy procedures eventually requiring that the work of those who perform endoscopy tasks be reviewed everyday by other colleagues.

The internal report noted that the VA is not alone in reporting problems with endoscopy procedures: Private hospitals in California and Pennsylvania have notified thousands of patients in recent years after similar concerns.

(L of the Week) MATTRESS – AND A MILLION – TO THE DUMP

Posted: Wednesday, June 10, 2009 11:23 AM
By Martin Fletcher, NBC News Correspondent 

TEL AVIV – She sounded subdued on the phone, sad even, and who wouldn’t be? All she had wanted was to give a nice surprise to her mother.

 So Anat (not her real name), a Tel Aviv resident, threw out her mother’s ratty old mattress and bought her a lovely new one. After all, as people age, they need a firm mattress, not a lumpy old one.

But those lumps were not clumps of distorted wool or loose springs. They were dollar bills. A million’s worth. 

Over the years, Anat’s mother had stashed away American dollars and Israeli shekels in her mattress, and now Anat had thrown away her life savings.

In a panic Anat rushed to the garbage dump but couldn’t find the mattress among the 2,500 tons of trash that arrives daily. She rode three garbage trucks to three different dumps and combed them feverishly, looking for her mother’s fortune. 

She tried to keep it a secret, fearing others would comb the trash and find it first. But a municipal worker took a photo of her sifting through the smelly debris and sold it to a newspaper, even while he expressed doubt that there could really be a million dollars in one mattress.

But Anat’s panic was genuine enough. A radio station broadcast Anat’s disaster and pretty soon there were reports of concerned citizens storming the dumps trying to help her, or at least, help themselves to her money.      

The garbage dump manager said his men were trying to help her, and added that she seemed desperate.

But newspapers quoted Anat as saying, “People have to take everything in proportion and thank God for the good and the bad.”

How to Insure Success: Bill Cosby Success Story

“In order to succeed, your desire for success should be greater than your fear of failure”..
-Bill Cosby

Through his early childhood, Bill Cosby was already known from his teachers for clowning around. Although at the time, he was involved in sports such as football, basketball, baseball and he was even on the track team. He worked at a super market as a stock boy, as a shoe shiner and he also sold produce. He also started acting in plays. While being in high school, he decided to drop out of school after failing tenth grade. Later on he joined the Navy and served at the Base in Quantico, Virginia and at the Bethesda Naval Hospital in Maryland.

He decided to pursue his education through equivalence courses and got his diploma. He attended the Temple University where he studied physical education, after winning a track and field scholarship. He was part of the football and track team. He kept telling jokes and realized it was is talent. Then he started his career as a comedian even if his parents didn’t approve of it. He made a few comic stand-up across several clubs in Philadelphia and moved to New York City.
He starred in NBC’s “Tonight Show”. “Bill Cosby Is A Very Funny Fellow … Right”, his first comedy album was released in 1964.

He met his wife to be while performing in Washington DC. They got married, started a family and had 5 children: Ennis, Erika, Erin, Ensa and Evin. Ennis was shot dead while changing a flat tire on the side of a Los Angeles freeway in 1997. All the children’s names started with the letter E for excellence.

In 1965, he became the first African American actor starring weekly in television series. I –spy from 1965 until 1968. His role as a Central Intelligence Agent got him 2 Emmys. The following series played a major key role in portraying a new image of the middle class African Americans: “The Bill Cosby Show” from 1969 to 1971, The New Bill Cosby Show” from 1972–1973, and “Fat Albert” and “The Cosby Kids” from 1972–1984. “The Bill Cosby Show” surely was one of the most popular and successful in television history. His sense of humor pleased both children and adults. His series, TV commercials, comedy records, and books, made him one of the wealthiest in the entertainment industry. Cosby’s net worth is valued to more than $300 million.

Cosby is considered a kind-hearted contributor to multiple causes and institutions. He was honored with the “Bob Hope Humanitarian Award” in 2003

Car Insurance Rates for Teens Costly in New Jersey

by Carrie Stetler/The Star-Ledger

New Jersey is the second most expensive state’s in the nation to insure teen drivers, according to Insurance.com’s Ratewatch report, released earlier this month.

The average rate to insure Jersey teens — $6,200 — is second only to Louisiana, where it costs $7,900. According to Insurance.com, adding a teen driver to an existing policy can increase the annual rate an average of $2,171 a year.

Here are some tips to cut costs:

**Take advantage of the “good student” discount, if you can. That can take as much as 10 percent to 15 percent off the price of your car insurance policy.
**Help your child learn how to drive. Don’t just rely on driving school. No matter what your state legally requires, the more time you spend in the car teaching your teenager to drive, the better.
**Set a curfew. Statistics show that teenage driving deaths rise dramatically from 9 p.m. to 6 a.m.
**Don’t let your teenager drive a small, old car. Older, compact cars are a risky proposition. If it’s not a safe car, you won’t qualify for safety discounts.
**Shop around. Compare insurance company rates before you make a decision. The difference between the highest quote for adding a teen and the lowest quote can be more than $2,000 a year.

The Most Expensive Cars to Insure

That little gecko can’t save you 15 percent or more on car insurance if you bought a Nissan GT-R, apparently. Or a Dodge Viper. Or a Hummer H2. He might have a deal for you, though, if you’re driving a Hyundai Santa Fe.

Insure.com has posted its list of the most, and least, expensive cars to insure. They explain, “Sports cars dominate the ‘most expensive’ list, with the GT-R driving away with the top bill.” On the other end of the scale, “Low rates tend to reflect a vehicle’s safety, which is why larger cars and minivans dominate the least-expensive list.” The website examined the average insurance premium on 300 different 2009 model year cars, assuming in every case that the driver was a 40-year old man with a 12-mile daily commute. They found that “Cars shoot to the top of the ‘most expensive to insure’ list because their drivers have submitted frequent and expensive car insurance claims. On the other hand, when a car model attracts experienced drivers who don’t crash often, all drivers of that model benefit.”

Ten Most Expensive Cars to Insure:

Rank      Average Premium         Vehicle

1           $2,533                         Nissan GT-R

2           $2,446                         Dodge Viper

3           $2,236                         BMW M6

4           $2,186                         Ford Shelby GT500

5           $2,088                         Mercedes-Benz G-Class

6          $2,071                          Audi S8

7          $2,020                          BMW M5

8          $1,912                          Hummer H2

9          $1,881                          Lexus IS F

10        $1,819                          Porsche 911

Ten Least Expensive Cars to Insure:

Rank    Average Premium          Vehicle

1         $832                             Hyundai Santa Fe

2         $840                             Kia Sportage

3         $848                             Hyundai Entourage

4         $857                             Kia Sedona

5         $870                             Kia Rio5

6         $871                             Honda Odyssey

7         $881                             Smart Fortwo

8         $911                             Saturn Vue

9         $913                             Mazda Tribute

10       $915                             Chrysler Town & Country

Looking to lower your car insurance rates or just trying to understand your policy? Check out our Car Insurance Center for information on getting the most out of your auto insurance.

If you’re in the market for a new car, check out the U.S. News rankings of this year’s best cars as well as this month’s best car deals.

U.S. Jobless Rate Hits 26-year High

Reuters
Friday, June 5, 2009; 8:50 AM  

WASHINGTON (Reuters) – U.S. employers cut 345,000 jobs last month, the fewest since September and far less than forecast, according to a government report on Friday that was more evidence the economy’s severe weakness was diminishing.

However, the Labor Department said the unemployment rate raced to 9.4 percent, the highest since a matching rate in July 1983, from 8.9 percent in April.

March and April’s job losses were revised down to show a smaller declines of 652,000 and 504,000, respectively.

Analysts polled by Reuters had forecast non-farm payrolls dropping 520,000 in May. The unemployment rate had been forecast to rise to 9.2 percent.

While the job losses in May were spread across almost all sectors, the pace of layoffs was slower than in prior months.

Payrolls in construction industries fell 59,000 after dropping 108,000 in April, likely as a result of the government’s historic $787 billion stimulus package.

The service-providing industry shed 120,000 positions after eliminating 230,000 in April. The manufacturing sector purged 156,000 jobs in May, likely reflecting auto plant shutdowns in the wake of Chrysler’s bankruptcy filing. The sector shed 154,000 in April.

Education and health services sector payrolls expanded by 44,000 after increasing 13,000 the prior month. Government, which in April added 92,000 jobs, mostly related to preparations for the 2010 census, cut 7,000 positions in May.

Since the start of the recession in December 2007, the economy has lost 6.0 million jobs, the department said.

(Reporting by Lucia Mutikani; Editing by Andrea Ricci)

Air France Crash May Remain a Mystery Say Investigators

By Crispian Balmer

French officials said on Wednesday they might never discover why an Air France aircraft crashed into the Atlantic, killing 228 people, and that they might not even find the plane’s black boxes on the ocean floor.

Brazilian and French navy vessels were rushing to an area about 745 miles (1,200 kms) northeast of Brazil’s coastal city Recife, where debris from Monday’s disaster was found, hoping to retrieve as much of the wreckage as possible.

France is also dispatching a mini submarine that can explore as far down as 6,000 meters (19,680 ft) and will try to locate the Airbus’s flight data and voice recorders, which should shed light on the crash.

But Paul Louis Arslanian, the head of France’s air accident investigation agency, said he was not sure that the black boxes would be recovered and said the probe might prove frustrating.

“I am not totally optimistic. We cannot rule out that we will not find the flight recorders,” Arslanian told reporters, warning that the inquiry could take a long time to wrap up. “I cannot rule out the possibility that we might end up with a finding that is relatively unsatisfactory in terms of certainty,” he added.

A first report will be ready by the end of the month, with the investigation led by Alain Bouillard, who took charge of the probe into the crash of an Air France Concorde in 2000.

Arslanian revealed few new elements, confirming only that the crew had sent a radio message reporting turbulence as it headed towards the equator and that the plane had later sent a rapid series of automated messages reporting malfunctions. “For now, there is no indication to suggest that the plane had a problem before its take off,” he said.

MOUNTAINOUS UNDERSEA LANDSCAPE
Brazil sent four navy ships and a tanker to a remote, 3-mile (5 km) strip of water that was dotted with airplane seats, an orange buoy, wiring, hunks of metal and jet fuel stains.

The vessels have divers on board and smaller boats to lower into the ocean to try and retrieve the pieces.

France sent a vessel with the Nautile submarine aboard, but it was not expected to reach the zone until early next week.

French Transport Minister Jean-Louis Borloo said the recorders were believed to be at a depth of between 3,660 meters and 3,700 meters (12,010-12,140 ft), well within the reach of the submarine, but warned they would be hard to find. “We have never recovered black boxes that deep before and … the sea currents are powerful that far down,” he said.

Arslanian said the seabed in the area was very rugged. “It is practically in the middle of the Atlantic Ocean where the floor is very deep and varied. It is a mountainous seascape rather than a plain,” he said.

The recorders are designed to send homing signals for up to 30 days when they hit water, but there is no guarantee they even survived the ferocious impact with the sea, Arslanian said.

Distraught relatives who had prayed for a miracle gave up hope as experts were certain that all aboard died on the flight.

“I just want to find my son’s body so that he can have a dignified burial,” said Aldair Gomes, the father of Marcelo Parente, who was the head of the Rio mayor’s cabinet.

France was due to hold an ecumenical religious ceremony for the relatives and friends of those on the plane at Notre Dame Cathedral in Paris later on Wednesday.

So far no bodies have been sighted on flyovers.

Authorities are baffled by how a modern plane operated by three experienced pilots could have suddenly plunged out of the sky, without even giving the pilots time to send a mayday call.

French investigators have divided into four teams to probe various aspects of the case, including a review of the plane’s on board systems and maintenance record.

Paris magistrates said on Wednesday they would open a simultaneous inquiry, a routine procedure following such large loss of life.

(Additional reporting by Alonso Soto and Rodrigo Viga Gaier in Rio and Laure Bretton and Clement Guillou in Paris; Editing by Louise Ireland and Richard Balmforth)

Copyright 2009 Reuters. Click for Restrictions.

AIG to Sell New York Buildings Including Pine St. Headquarters

American International Group Inc. has reached a deal to sell two New York buildings, including its downtown Manhattan headquarters, a source familiar with the matter said Tuesday.

The buildings being sold are located at 70 Pine Street and 72 Wall Street in New York, the source said. The source declined to name the buyer or the value of the deal.

Occupants of the Pine Street office are likely to stay there through the end of 2010, while those at the Wall Street location will be there through the end of this year, the source said.

Over time, AIG employees will be relocated to other locations, including offices at 180 Maiden Lane in New York, the source said.

AIG declined to comment. The source did not want to be identified because the deal is not public yet.

(Reporting by Paritosh Bansal, editing by Gerald E. McCormick)

Copyright 2009 Reuters. Click for Restrictions.

Insure Success: Gurbaksh Chahal

Nothing is handed to you,” he says. Success can happen, but you have to reach for it.” – Gurbaksh Chahal

Gurbaksh commonly known as “G”, was born in Tarn Taran, India. At the age of three and a half years old, he and his family moved in San Jose , California with only 25$. His parents were determined to fulfill their dream of giving their children a better future. Chahal was the youngest of four.

Gurbaksh was already selling refurbished printers at the age of 14 so he could financially help his parents. The income also allowed him to start his first venture called Click Agents at the age of 16. Click Agents was one of the pioneer sites that started to charge advertisers per click. He had used his savings to pay a programmer to design the site’s ingenious software. The company reached six figures in an outstanding period of four months. Dropping out of school became necessary so he could pursue his venture full-time.

In 2000, Click Agents was bought buy Value Click in a $40 million stock merger.
Then in 2007, BlueLithium was formed by “G”. In 2004, Yahoo made the acquisition of BlueLithuim for the amount of $300 million. He was then 25 years old. Gwallet, an internet shopping site, represents his new start-up. The beta version is already available on his website.

Challenges hands him a continuous drive. His new book, The Dream, is all about his story which will surely reach and inspire others. “G” made an appearance on the “Oprah Winfrey Show” and also starred in “Secret Millionaire”, a network philanthropic prime time show which aired on Fox in December 2008.

Perseverance is what pushed him to become the person he is today.
Who would believe that Gurbaksh had been in introvert teen with a terrible pitch?
He was a confident teen, who viewed himself as a fierce businessman. Those pitches surely did convince his clients and investors to take part of his business adventure. Today he owns one of the the greatest collection of pitches.

http://www.dreamtotheworldblog.com/

Top Trial Lawyer Cauley Pleads Guilty to Fraud in Insurance Case

An Arkansas lawyer who rose to prominence in lucrative securities fraud class-action litigation pleaded guilty on Monday to charges of stealing more than $9 million of client money.

Lawyer Steven Eugene Cauley told U.S. District Judge Paul Crotty at a plea hearing in Manhattan federal court that he had suffered a “severe depressive episode” but that was not an excuse for his felonies.

“I always made a good deal of money in my law practice and knowing I had some additional money coming in, I took a short cut,” said Cauley, 41, who in 2005 was named one of the top young lawyers in the United States by the National Law Journal.

U.S. prosecutors charged Cauley with wire fraud and criminal contempt in April when a judge in New York realized that the lawyer could not account for $9.3 million that was to be distributed in a 2007 settlement of a case against Bisys Group Inc. insurance services firm for $65.8 million.

Cauley, partner in Little Rock, Arkansas, law firm Cauley Bowman Carney & Williams LLC, controlled an escrow account for the settlement money. During 2007 he periodically transferred amounts totaling at least $9.3 million to pay business expenses from various ventures or for his personal investments, according to court documents.

Cauley attempted to conceal his misappropriation of the money, telling a partner in his law firm that it was invested in Treasury bonds and that it would be wired after liquidation of the bonds, but he failed to do so.

The judge approved $5 million bail for Cauley and scheduled sentencing for September 10. Cauley faces up to eight years imprisonment and fines of up to $125,000.

The case is in re BISYS Securities Litigation 04-3840 in U.S. District Court for the Southern District of New York (Manhattan).

(Reporting by Grant McCool; Editing by Steve Orlofsky

Copyright 2009 Reuters

Travelers Insurance to Replace Citi on Dow Jones Industrial Average

Two stocks in the Dow Jones Industrial Average will be replaced, Dow Jones & Co. announced.

The Travelers Companies, Inc. (TRV) is taking the place of Citigroup, Inc. (C) and Cisco Systems, Inc. (CSCO) is going in for General Motors Corp. (GM).

Both changes will be effective with the opening of trading on June 8, 2009.

“The parlous state of GM has left us with no choice but to remove it from The Dow. A bankruptcy filing immediately disqualifies a stock regardless of a company’s history or its role as a cultural icon,” said Robert Thomson, managing editor of The Wall Street Journal and editor-in-chief for all of Dow Jones.

He said the addition of Travelers to the index helps restore financial industry representation that was lost when American International Group, Inc. (AIG) was removed.

“The selection of Travelers, a property and casualty insurance company, is intended to restore the financials industry to full representation in The Dow,” Thomson said. “When we removed American International Group, Inc. last fall, we substituted Kraft Foods, Inc. rather than another financial stock because the financials industry was then in great upheaval. That choice left financials underrepresented in The Dow, a deficiency we are now correcting.”

He said Dow Jones was “reluctant to remove Citigroup at the height of the financial frenzy, but it is clear that the bank is in the midst of a substantial restructuring which will see the government with a large and ongoing stake.”

He suggested Citi would be reconsidered in the future “once the bank has refashioned itself.”

Thomson said that Cisco is a fitting addition “because its communications and computer-networking products are vital to an economy and culture still adapting to the Information Age — just as automobiles were essential to America in the 20th Century.”

The Journal’s Managing Editor oversees the makeup of The Dow, which Charles H. Dow created as a 12-stock index in May 1896.

GM ends an 83-year run as a component of the index. Citigroup joined the Dow on March 17, 1997, as Citicorp. Ironically, Travelers merged with Citicorp to form Citigroup in 1998, creating what was then termed a “financial supermarket.” Citigroup spun off Travelers in 2002.

Massachusetts Bill Would Let Doctors Say ‘I’m Sorry’

Lawmakers are considering a bill that would let doctors say “I’m sorry” without admitting they made a medical mistake.

Doctors have long expressed frustration that showing any compassion toward patients or their families — especially after a death following an operation or treatment — can be used against them in a medical malpractice lawsuit.

The bill sponsored by Barnstable Democratic Sen. Robert D. O’Leary would make the expression of “benevolence, regret, sympathy, commiseration, condolence or compassion” inadmissible as evidence in such a lawsuit.

The bill is one of several set to be taken up at a Statehouse hearing Wednesday by the Joint Committee on Health Care Financing.

Copyright 2009 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Progressive Settles over Wrong Massachusetts Rate Quotes

May 28, 2009

The Progressive insurance company is paying the state of Massachusetts $120,000 and reimbursing customers after volunteering that its Web site had provided inaccurate rate comparisons.

The Ohio-based Progressive Casualty Insurance Co. began selling policies in Massachusetts on May 1, 2008, as part of Gov. Deval Patrick’s new managed competition auto insurance system.

In a settlement announced this week, Attorney General Martha Coakley said Progressive sometimes quoted prices for yearlong policies when asked the prices of six-month policies, which usually are more expensive.

Coakley said the company, which is based in the Cleveland suburb of Mayfield Village, violated the terms of its rate proposals by charging consumers for additional drivers listed on their policies, even when they had their own insurance.

She said Progressive agreed to send transfer notices to customers’ former agents or insurance companies stating it was now writing the drivers’ policies. But in its failure to send the notices, she said, consumers unknowingly were being canceled for nonpayment by their former carriers.

Such cancellations can affect a consumer’s credit rating and his or her ability to use an installment payment plan in the future. Under the terms of the settlement, Progressive will help any affected consumers repair their credit histories.

Progressive, which has 28,000 employees in more than 450 offices nationwide, also has eliminated its rate comparison tool for Massachusetts quotes, and telephone representatives have stopped quoting comparisons.

Progressive was “glad to put this matter behind us,” a spokeswoman said.

“We understand that the attorney general’s role is to protect consumers, and we wholeheartedly support that goal,” spokeswoman Leah Knapp said.

Copyright 2009 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Poll: Older Drivers More Savvy About Traffic Laws

May 26, 2009

Are Washington drivers so polite that it causes traffic issues? That’s the question tackled by a recent poll by Pemco Insurance, examining whether drivers have a solid understanding of the laws governing four-way stops.

“We’ve all been at four-way stops when everyone seems to want everyone else to go first, leading to the awkward go-no-you-go situation,” said Jon Osterberg, Pemco spokesman. “What the poll showed is that the vast majority of Washington drivers have a solid understanding of the law, which makes us wonder what other factors lead to this behavior.”

According to the Revised Code of Washington driving laws, when two cars approach or enter an intersection at approximately the same time, the vehicle on the left must yield to the vehicle on the right, a law that 89 percent of Washington drivers correctly identified in the poll.

The survey noted there is little confusion among drivers of all ages about who has the legal right-of-way at intersections. However, results indicated that drivers 55 and older are more familiar with the law than their younger counterparts — 96 percent of older drivers correctly identified the vehicle on the right as having the right-of-way, while 84 percent of those younger than 35 offered the correct response.

Additional poll results show that drivers are savvy to other common intersection foibles, but are less sure when it comes to the laws that govern these situations. Specifically, about two-thirds (65 percent) of drivers of all ages understand that it’s legal to turn right if the car directly across from you is passing straight through the intersection.

About three out of four people (76 percent) know that when drivers approach a roundabout intersection, they must travel all the way around the circle if they’re making a left turn, the poll revealed.

Pemco Insurance commissioned the independent survey that asked drivers in Washington state several questions about driving habits and attitudes toward current Northwest issues. The sample size, 602 respondents, yielded an accuracy of +/- 4 percent at the 95 percent confidence level.

Source: Pemco

Allstate Opens Offices Across the West

May 26, 2009

Independent agents in the West may soon see more competition. Allstate Insurance Co. announced it is expanding its presence in the West, by opening 10 offices in Nevada, 10 offices in New Mexico, 20 offices in Arizona and 15 offices in Utah.

The company said it is launching a recruitment campaign to attract successful, self-motivated entrepreneurs to serve as exclusive agents.

“The economic downturn is fueling business professionals from all career levels to seek out second career choices,” said Gerald Salas, human resources manager. Persons who don’t have an insurance background will receive training to help them “hit the ground running,” he said.

Agents will sell the company’s range of insurance and financial products, including auto, property and financial services.

Allstate said its agency expansion plan is part of an overall growth strategy that calls for growing the provider’s auto and property insurance presence and staking a stronger claim in financial services.

Source: Allstate

Insure Success: Pierre Omidyar Ebay

Pierre M. Omidyar, born in 1967 is a French-born Iranian-American entrepreneur and philanthropist/economist and the founder/chairman of the eBay auction site.

Early he developed an interest in computing and graduated in 1988 with a degree in computer science from Tufts University. Shortly after, Omidyar went to work for Claris, an Apple Computer subsidiary, where he helped write MacDraw. In 1991 he co-founded Ink Development, a pen-based computing startup that was later rebranded as an e-commerce company and renamed eShop.

Omidyar was 28 when he sat down over a long holiday weekend to write the original computer code for what eventually became an Internet superbrand — the auction site eBay eBay stands for e-commerce Bay area as Omidyar wanted to create an electronic version of the San Fransisco Bay Area where he lives…He wanted to create a village, a community over the internet.
For the little intrigue, Bay was founded to help Omidyar’s fiancée trade PEZ candy dispensers!!!

The site was launched on Labor Day, Monday, September 4, 1995, under the more prosaic title of “Auction Web”. Auction Web was later renamed “eBay”. The service was free at first, but started charging in order to cover Internet service provider costs.

In September 1998, eBay launched a successful public offering, making both Omidyar and Skoll billionaires. As of July 2008, Omidyar’s 178 million eBay shares were worth around $4.45 billion.

In 2004 Pierre Omidyar and his wife founded Omidyar Network, a philanthropic investment firm committed to creating and fostering opportunity for people around the world. He then expanded his efforts beyond non-profits to include for-profits and public policy.

For those interested in knowing and hearing more from Pierre Omidyar, check out his blog :
http://pmo.vox.com/

New York Suit Seeks $10M for Unnecessary Brain Surgery

A lawsuit says neurosurgeons operated twice on a New York woman for brain and spinal cord problems she didn’t have.

Kristy Pirozzolo is suing Long Island doctors Paolo Bolognese and Thomas Milhorat for $10 million.

Pirozzolo says she now has constant pain and has trouble moving her head.

An attorney for the doctors and hospital, Tony Sola, vowed to “defend this lawsuit on the science and the evidence and the truth.”

The doctors were suspended last month. Bolognese didn’t show up to operate on a patient who was already under anesthesia. Milhorat refused to cover for him.

Milhorat stepped down as North Shore University Hospital’s chief of neurosurgery. Bolognese was reinstated.

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Information from: Daily News

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