Friday, December 28, 2012
ANTARTIC ICE SHEET WARMING FASTER IN THE WEST
FROM: NATIONAL SCIENCE FOUNDATION
Study Finds That Portions of the West Antarctic Ice Sheet Are Warming Twice as Fast as Previously Thought
Findings could have important implications for global sea-level rise
December 24, 2012
A new study funded by the National Science Foundation (NSF) finds that the western part of the massive West Antarctic Ice Sheet (WAIS) is experiencing nearly twice as much warming as previously thought.
The findings were published online this week in the journal Nature Geoscience. NSF manages the U.S. Antarctic Program (USAP) and coordinates all U.S. research and associated logistics on the southernmost continent and in the surrounding Southern Ocean.
The temperature record from Byrd Station, an unmanned scientific outpost in the center of the ice sheet, demonstrates a marked increase of 4.3 degrees Fahrenheit (2.4 degrees Celsius) in average annual temperature since 1958. That is three times faster than the average temperature rise around the globe.
This temperature increase is nearly double what previous research has suggested, and reveals--for the first time--warming trends during the summer months of the Southern Hemisphere (December through February), said David Bromwich, professor of geography at Ohio State University and senior research scientist at the Byrd Polar Research Center.
"Our record suggests that continued summer warming in West Antarctica could upset the surface mass balance of the ice sheet, so that the region could make an even bigger contribution to sea-level rise than it already does," said Bromwich.
"Even without generating significant mass loss directly, surface melting on the WAIS could contribute to sea level indirectly, by weakening the West Antarctic ice shelves that restrain the region's natural ice flow into the ocean."
Andrew Monaghan, study co-author and scientist at the National Center for Atmospheric Research (NCAR), said that these findings place West Antarctica among the fastest-warming regions on Earth.
"We've already seen enhanced surface melting contribute to the breakup of the Antarctic's Larsen B Ice Shelf, where glaciers at the edge discharged massive sections of ice into the ocean that contributed to sea level rise," Monaghan said. "The stakes would be much higher if a similar event occurred to an ice shelf restraining one of the enormous WAIS glaciers."
Researchers consider the WAIS especially sensitive to climate change, explained Ohio State University doctoral student Julien Nicolas. Since the base of the ice sheet rests below sea level, it is vulnerable to direct contact with warm ocean water. Its melting currently contributes 0.3 mm to sea level rise each year--second to Greenland, whose contribution to sea-level rise has been estimated as high as 0.7 mm per year.
Due to its location some 700 miles from the South Pole and near the center of the WAIS, Byrd Station is an important indicator of climate change throughout the region.
In the past, researchers haven't been able to make much use of the Byrd Station measurements, due to the fact that since the station was establishment in 1957, it hasn't always been occupied. So, its data were incomplete, to the point that nearly one third of the temperature observations were missing for the time period of the study. A year-round automated station was installed in 1980, but it has experienced frequent power outages, especially during the long polar night, when its solar panels can't recharge.
Bromwich and two of his graduate students, along with colleagues from the National Center for Atmospheric Research and the University of Wisconsin-Madison, corrected the past Byrd temperature measurements and used corrected data from a computer atmospheric model and a numerical analysis method to fill in the missing observations.
Aside from offering a more complete picture of warming in West Antarctica, the study suggests that if this warming trend continues, melting will become more extensive in the region in the future, Bromwich said.
While the researchers work to fully understand the cause of the summer warming at Byrd Station, the next step is clear, he added.
"West Antarctica is one of the most rapidly changing regions on Earth, but it is also one of the least known," he said. "Our study underscores the need for a reliable network of meteorological observations throughout West Antarctica, so that we can know what is happening--and why--with more certainty."
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| Map: Antartica. Credit: CIA World Factbook. |
FROM: NATIONAL SCIENCE FOUNDATION
Study Finds That Portions of the West Antarctic Ice Sheet Are Warming Twice as Fast as Previously Thought
Findings could have important implications for global sea-level rise
December 24, 2012
A new study funded by the National Science Foundation (NSF) finds that the western part of the massive West Antarctic Ice Sheet (WAIS) is experiencing nearly twice as much warming as previously thought.
The findings were published online this week in the journal Nature Geoscience. NSF manages the U.S. Antarctic Program (USAP) and coordinates all U.S. research and associated logistics on the southernmost continent and in the surrounding Southern Ocean.
The temperature record from Byrd Station, an unmanned scientific outpost in the center of the ice sheet, demonstrates a marked increase of 4.3 degrees Fahrenheit (2.4 degrees Celsius) in average annual temperature since 1958. That is three times faster than the average temperature rise around the globe.
This temperature increase is nearly double what previous research has suggested, and reveals--for the first time--warming trends during the summer months of the Southern Hemisphere (December through February), said David Bromwich, professor of geography at Ohio State University and senior research scientist at the Byrd Polar Research Center.
"Our record suggests that continued summer warming in West Antarctica could upset the surface mass balance of the ice sheet, so that the region could make an even bigger contribution to sea-level rise than it already does," said Bromwich.
"Even without generating significant mass loss directly, surface melting on the WAIS could contribute to sea level indirectly, by weakening the West Antarctic ice shelves that restrain the region's natural ice flow into the ocean."
Andrew Monaghan, study co-author and scientist at the National Center for Atmospheric Research (NCAR), said that these findings place West Antarctica among the fastest-warming regions on Earth.
"We've already seen enhanced surface melting contribute to the breakup of the Antarctic's Larsen B Ice Shelf, where glaciers at the edge discharged massive sections of ice into the ocean that contributed to sea level rise," Monaghan said. "The stakes would be much higher if a similar event occurred to an ice shelf restraining one of the enormous WAIS glaciers."
Researchers consider the WAIS especially sensitive to climate change, explained Ohio State University doctoral student Julien Nicolas. Since the base of the ice sheet rests below sea level, it is vulnerable to direct contact with warm ocean water. Its melting currently contributes 0.3 mm to sea level rise each year--second to Greenland, whose contribution to sea-level rise has been estimated as high as 0.7 mm per year.
Due to its location some 700 miles from the South Pole and near the center of the WAIS, Byrd Station is an important indicator of climate change throughout the region.
In the past, researchers haven't been able to make much use of the Byrd Station measurements, due to the fact that since the station was establishment in 1957, it hasn't always been occupied. So, its data were incomplete, to the point that nearly one third of the temperature observations were missing for the time period of the study. A year-round automated station was installed in 1980, but it has experienced frequent power outages, especially during the long polar night, when its solar panels can't recharge.
Bromwich and two of his graduate students, along with colleagues from the National Center for Atmospheric Research and the University of Wisconsin-Madison, corrected the past Byrd temperature measurements and used corrected data from a computer atmospheric model and a numerical analysis method to fill in the missing observations.
Aside from offering a more complete picture of warming in West Antarctica, the study suggests that if this warming trend continues, melting will become more extensive in the region in the future, Bromwich said.
While the researchers work to fully understand the cause of the summer warming at Byrd Station, the next step is clear, he added.
"West Antarctica is one of the most rapidly changing regions on Earth, but it is also one of the least known," he said. "Our study underscores the need for a reliable network of meteorological observations throughout West Antarctica, so that we can know what is happening--and why--with more certainty."
W.W. GRAINGER PAYS U.S. $70 MILLION TO RESOLVE FALSE CLAIMS ALLEGATIONS
FROM: U.S. DEPARTMENT OF JUSTICEWednesday, December 26, 2012
Illinois-based Hardware Distributor W.W. Grainger Pays US $70 Million to Resolve False Claims Act Allegations
W.W. Grainger Inc. has agreed to pay the United States $70 million to resolve allegations that it submitted false claims under contracts with the General Services Administration (GSA) and the U.S. Postal Services (USPS), the Department of Justice announced today. Grainger is a national hardware distributor headquartered in Lake Forest, Illinois.
Grainger entered into a contract to sell hardware products and other supplies to government customers through the GSA’s Multiple Award Schedule (MAS) program. The MAS program provides the government and other GSA-authorized purchasers with a streamlined process for procurement of commonly-used commercial goods and services. To be awarded a MAS contract, and thereby gain access to the broad government marketplace, contractors must agree to disclose their commercial pricing policies and practices to assist the government in negotiating the terms of the MAS contract.
Today’s settlement resolves issues discovered during a GSA post-award audit of Grainger’s MAS contract. The GSA Office of Inspector General learned that Grainger failed to meet its contractual obligations to provide the GSA with current, accurate and complete information about its commercial sales practices, including discounts afforded to other customers. As a result, government customers purchasing items under the Grainger MAS contract paid higher prices than they should have.
In addition, today’s settlement resolves allegations that Grainger failed to meet its contractual obligations to provide "most-favored customer" pricing under two USPS contracts for sanitation and maintenance supplies. The USPS contracts required Grainger to treat USPS as Grainger’s "most-favored customer" by ensuring that USPS received the best overall discount that Grainger offered to any of its commercial customers. Agents and auditors from the USPS Office of Inspector General (OIG) investigated Grainger’s pricing practices and discovered that Grainger did not consistently adhere to this requirement, causing USPS to pay more than it should have for purchases made under the two contracts.
"Misrepresentations during contract negotiations undermine the integrity of the government procurement process," said Stuart F. Delery, Principal Deputy Assistant Attorney General for the Civil Division. "The Justice Department is committed to ensuring that government purchasers of commercial products receive the prices to which they are entitled."
"The substantial payment by Grainger reflects the Justice Department’s focused and productive work in the economic interests of our citizen constituents," commented United States Attorney James L. Santelle of the Eastern District of Wisconsin. "This settlement shows that we are committed to ensuring that false claims are investigated fully and pursued effectively so that government monies are used properly and the integrity of our contracting system is upheld."
"This case is another demonstration of the value of the work performed by Inspectors General ," said GSA Inspector General Brian D. Miller. "Our auditors and agents worked tirelessly to reach this critical settlement."
"The U.S. Postal Service Office of Inspector General aggressively pursues instances of contracting improprieties that negatively impact the Postal Service and cause unnecessary expenses. We appreciate the partnership of the Civil Divisions of the Department of Justice and the United States Attorney’s Office for their support in this case," said Joanne Yarbrough, Special Agent-in-Charge of the OIG’s Major Fraud Investigations Division.
This settlement was the result of a coordinated effort by the Commercial Litigation Branch of the Justice Department’s Civil Division; the U.S. Attorney’s Office for the Eastern District of Wisconsin; the GSA Office of Inspector General; and the USPS Office of Inspector General and Office of General Counsel. The claims settled by this agreement are allegations only, and there has been no determination of liability.
U.S.-MADAGASCAR RELATIONS
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| Map: Madagascar. Credit: CIA World Factbook. |
FROM: U.S. STATE DEPARTMENT
During the 1800s and 1900s, Madagascar passed back and forth between British and French spheres of influence and possession. The country became independent from France in 1960. Relations between the United States and Madagascar date to the mid-1800s. The two countries concluded a commercial convention in 1867; established diplomatic relations in 1874; and concluded a treaty of peace, friendship, and commerce in 1881. Traditionally warm relations suffered considerably during the 1970s, when Madagascar expelled the U.S. Ambassador, closed a NASA tracking station, and nationalized two U.S. oil companies. In 1980, relations at the ambassadorial level were restored.
In 2009, Madagascar's democratically elected president stepped down under pressure from the military and purported to transfer his authority to a senior military figure, who in turn purported to confer the presidency on the opposition leader, who is currently heading the self-proclaimed High Transitional Authority (HAT). The United States considers the series of events in Madagascar in early 2009 to be a military coup d'état. In the aftermath of the coup d’etat, Madagascar has experienced negative economic growth and diminished government revenues, undermining the political, social, and economic stability of the country. The United States’ intent is to support international efforts led by the Southern African Development Community and the African Union to ensure that a credible electoral process takes place as soon as possible, organized by an independent entity.
U.S. Assistance to Madagascar
Following the 2009 coup d’etat, the United States suspended direct assistance to or through Madagascar’s governmental authorities as well as all non-humanitarian activities. The U.S. Government continues to provide assistance in health and food security through nongovernmental organizations, community associations, and other private groups. The United States is currently the largest bilateral donor to Madagascar, which is a priority country for the President’s Malaria Initiative, Additionally, approximately 130 Peace Corps volunteers serve in Madagascar.
Bilateral Economic Relations
U.S. exports to Madagascar include machinery, vegetable oil, rice and wheat, aircraft, and vehicles. U.S. imports from Madagascar include apparel, vanilla beans, precious stones/metals, and perfumes/cosmetics. The United States has signed a trade and investment framework agreement with the Common Market for Eastern and Southern Africa, of which Madagascar is a member. Under the economic and political governance criteria necessary for eligibility, Madagascar is ineligible for preferential trade benefits under the African Growth and Opportunity Act.
Madagascar's Membership in International Organizations
Madagascar and the United States belong to a number of the same international organizations, including the United Nations, International Monetary Fund, World Bank, and World Trade Organization.
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| Locator Map: Madagascar. Credit: CIA World Factbook. |
ADDITIONAL INFORMATION FROM CIA WORLD FACTBOOK
Formerly an independent kingdom, Madagascar became a French colony in 1896 but regained independence in 1960. During 1992-93, free presidential and National Assembly elections were held ending 17 years of single-party rule. In 1997, in the second presidential race, Didier RATSIRAKA, the leader during the 1970s and 1980s, was returned to the presidency. The 2001 presidential election was contested between the followers of Didier RATSIRAKA and Marc RAVALOMANANA, nearly causing secession of half of the country. In April 2002, the High Constitutional Court announced RAVALOMANANA the winner. RAVALOMANANA achieved a second term following a landslide victory in the generally free and fair presidential elections of 2006. In early 2009, protests over increasing restrictions on opposition press and activities resulted in RAVALOMANANA stepping down and the presidency was conferred to the mayor of Antananarivo, Andry RAJOELINA. Numerous attempts have been made by regional and international organizations to resolve the subsequent political gridlock by forming a power-sharing government. In late 2011, RAJOELINA appointed a new cabinet, and the country appeared to be moving towards new elections sometime in 2012.
FIRST FEMALE COMMANDING OFFICER OF U.S. NAVAL WARSHIP
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| LCDR Darlene Iskra smiles shortly after her appointment as commanding officer of USS Opportune (ARS-41), February 1991. DOD Still Media Photograph: DN-ST-91-06050 |
FROM: U.S. NAVY
First Female Commanding Officer of a U.S. Navy Warship
By jasonkelly
– December 26, 2012Posted in: History & Heritage, Sailors
Dec. 27 marks 22 years since LCDR Darlene Iskra reported for duty aboard USS Opportune (ARS-41). She would later become the first female commanding officer of a U.S. Navy warship when she assumed responsibility as the ship’s CO.
Today, we recognize CDR (Ret.) Iskra’s accomplishments during her 21 years of military service – marked by several firsts for female Sailors, including qualifying as a Surface Warfare Officer, service as a sea-going officer, as well as one of the first three female Sailors to attend the Naval School of Diving and Salvage.
She holds an MA in National Security and Strategic Studies from the Naval War College, Newport, R.I., and an MA and Ph.D. in Sociology from the University of Maryland. Today, she writes books about women in military service.
Below, CDR (Ret.) Iskra reflects with Naval History & Heritage Command or her Career.
About three weeks after I took command, Desert Storm started in the Gulf and we were ordered underway towards the Suez Canal to intervene in case the Canal was mined or otherwise blocked. We picked up an [Explosive Ordnance Disposal] team in La Maddalena, Sardinia, and headed to an area on the Mediterranean side of the canal, where we stayed for the entire duration of the war. No mines were laid, though we did have several interesting incidents, but those are stories for another day."
Thursday, December 27, 2012
U.S. UNEMPLOYMENT INSURANCE WEEKLY CLAIMS REPORT FOR WEEK ENDING DECEMBER 22, 2012
FROM: U.S. DEPATMENT OF LABOR
SEASONALLY ADJUSTED DATA
In the week ending December 22, the advance figure for seasonally adjusted initial claims was 350,000, a decrease of 12,000 from the previous week's revised figure of 362,000. The 4-week moving average was 356,750, a decrease of 11,250 from the previous week's revised average of 368,000.
The advance seasonally adjusted insured unemployment rate was 2.5 percent for the week ending December 15, unchanged from the prior week's unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending December 15 was 3,206,000, a decrease of 32,000 from the preceding week's revised level of 3,238,000. The 4-week moving average was 3,219,000, a decrease of 24,750 from the preceding week's revised average of 3,243,750.
UNADJUSTED DATA
The advance number of actual initial claims under state programs, unadjusted, totaled 440,887 in the week ending December 22, an increase of 39,458 from the previous week. There were 497,689 initial claims in the comparable week in 2011.
The advance unadjusted insured unemployment rate was 2.5 percent during the week ending December 15, unchanged from the prior week's unrevised rate. The advance unadjusted number for persons claiming UI benefits in state programs totaled 3,254,214, an increase of 9,650 from the preceding week. A year earlier, the rate was 2.9 percent and the volume was 3,613,414.
The total number of people claiming benefits in all programs for the week ending December 8 was 5,475,708, an increase of 73,279 from the previous week. There were 7,231,771 persons claiming benefits in all programs in the comparable week in 2011.
Extended Benefits were only available in New York during the week ending December 8.
Initial claims for UI benefits filed by former Federal civilian employees totaled 1,680 in the week ending December 15, a decrease of 374 from the prior week. There were 2,574 initial claims filed by newly discharged veterans, a decrease of 257 from the preceding week.
There were 21,095 former Federal civilian employees claiming UI benefits for the week ending December 8, a decrease of 245 from the previous week. Newly discharged veterans claiming benefits totaled 40,561, an increase of 1,081 from the prior week.
States reported 2,100,243 persons claiming EUC (Emergency Unemployment Compensation) benefits for the week ending December 8, an increase of 3,698 from the prior week. There were 2,926,135 persons claiming EUC in the comparable week in 2011. EUC weekly claims include first, second, third, and fourth tier activity.
The highest insured unemployment rates in the week ending December 8 were in Alaska (6.2), New Jersey (3.9), Pennsylvania (3.8), Puerto Rico (3.7), California (3.5), Montana (3.5), Oregon (3.5), Connecticut (3.3), Nevada (3.3), Illinois (3.2), and Wisconsin (3.2).
The largest increases in initial claims for the week ending December 15 were in Florida (+5,080), Kentucky (+1,009), Mississippi (+651), Iowa (+646), and Indiana (+549), while the largest decreases were in California (-6,867), New Jersey (-5,101), Pennsylvania (-3,412), New York (-2,938) and Michigan (-2,889).
SEASONALLY ADJUSTED DATA
In the week ending December 22, the advance figure for seasonally adjusted initial claims was 350,000, a decrease of 12,000 from the previous week's revised figure of 362,000. The 4-week moving average was 356,750, a decrease of 11,250 from the previous week's revised average of 368,000.
The advance seasonally adjusted insured unemployment rate was 2.5 percent for the week ending December 15, unchanged from the prior week's unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending December 15 was 3,206,000, a decrease of 32,000 from the preceding week's revised level of 3,238,000. The 4-week moving average was 3,219,000, a decrease of 24,750 from the preceding week's revised average of 3,243,750.
The advance number of actual initial claims under state programs, unadjusted, totaled 440,887 in the week ending December 22, an increase of 39,458 from the previous week. There were 497,689 initial claims in the comparable week in 2011.
The advance unadjusted insured unemployment rate was 2.5 percent during the week ending December 15, unchanged from the prior week's unrevised rate. The advance unadjusted number for persons claiming UI benefits in state programs totaled 3,254,214, an increase of 9,650 from the preceding week. A year earlier, the rate was 2.9 percent and the volume was 3,613,414.
The total number of people claiming benefits in all programs for the week ending December 8 was 5,475,708, an increase of 73,279 from the previous week. There were 7,231,771 persons claiming benefits in all programs in the comparable week in 2011.
Extended Benefits were only available in New York during the week ending December 8.
Initial claims for UI benefits filed by former Federal civilian employees totaled 1,680 in the week ending December 15, a decrease of 374 from the prior week. There were 2,574 initial claims filed by newly discharged veterans, a decrease of 257 from the preceding week.
There were 21,095 former Federal civilian employees claiming UI benefits for the week ending December 8, a decrease of 245 from the previous week. Newly discharged veterans claiming benefits totaled 40,561, an increase of 1,081 from the prior week.
States reported 2,100,243 persons claiming EUC (Emergency Unemployment Compensation) benefits for the week ending December 8, an increase of 3,698 from the prior week. There were 2,926,135 persons claiming EUC in the comparable week in 2011. EUC weekly claims include first, second, third, and fourth tier activity.
The highest insured unemployment rates in the week ending December 8 were in Alaska (6.2), New Jersey (3.9), Pennsylvania (3.8), Puerto Rico (3.7), California (3.5), Montana (3.5), Oregon (3.5), Connecticut (3.3), Nevada (3.3), Illinois (3.2), and Wisconsin (3.2).
The largest increases in initial claims for the week ending December 15 were in Florida (+5,080), Kentucky (+1,009), Mississippi (+651), Iowa (+646), and Indiana (+549), while the largest decreases were in California (-6,867), New Jersey (-5,101), Pennsylvania (-3,412), New York (-2,938) and Michigan (-2,889).
U.S. SUSPENDS EMBASSY OPERATIONS IN BANGUI
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| Map: Central African Republic. Credit: CIA World Factbook. |
FROM: U.S. STATE DEPARTMENT
Temporary Suspension of U.S. Embassy Bangui Operations
Press Statement
Patrick Ventrell
Acting Deputy Spokesperson, Office of the Spokesperson
Washington, DC
December 27, 2012
The U.S. Embassy in Bangui temporarily suspended its operations on December 28 as a result of the present security situation in the Central African Republic (CAR). We have not suspended diplomatic relations with the Central African Republic.
Ambassador Wohlers and his diplomatic team left Bangui today along with several private U.S. citizens. As a result of this suspension of operations, the embassy will not be able to provide routine consular services to American citizens in the Central African Republic until further notice.
This decision is solely due to concerns about the security of our personnel and has no relation to our continuing and long-standing diplomatic relations with the CAR.
The United States encourages all parties in the Central African Republic to participate in the dialogue to be held under the auspices of the Economic Community of Central African States (CEEAC) to develop a comprehensive agreement that will offer a new vision of peace and security for the country.
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| Central African Republic Locator Map. Credit: CIA World Factbook. |
ADDITIONAL INFORMATION FROM CIA WORLD FACTBOOK
The former French colony of Ubangi-Shari became the Central African Republic upon independence in 1960. After three tumultuous decades of misrule - mostly by military governments - civilian rule was established in 1993 and lasted for one decade. President Ange-Felix PATASSE's civilian government was plagued by unrest, and in March 2003 he was deposed in a military coup led by General Francois BOZIZE, who established a transitional government. Elections held in 2005 affirmed General BOZIZE as president; he was reelected in 2011 in voting widely viewed as severely flawed. The government still does not fully control the countryside, where pockets of lawlessness persist. Militant group Lord's Resistance Army (LRA) continues to affect stability in the Central African Republic as well
SEC ALLEGES INSIDER TRADING DURING IBM ACQUISITION OF SPSS INC.
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| Credit: Wikimedia Commons. |
Washington, D.C., Dec. 26, 2012 — The Securities and Exchange Commission today announced additional charges in an insider trading case against two brokers who traded on nonpublic information ahead of IBM Corporation’s acquisition of SPSS Inc.
In an amended complaint filed in federal court in Manhattan, the SEC is now charging research analyst Trent Martin, who was the brokers’ source of confidential information in an insider trading scheme that yielded more than $1 million in illicit profits. Martin worked at a brokerage firm in Connecticut and specialized in Australian equity investments, and he learned nonpublic information about the impending IBM-SPSS transaction from an attorney friend who was working on the deal. Rather than maintaining the confidence of the information, Martin used the information for his own benefit, purchasing SPSS securities and subsequently tipping his roommate Thomas C. Conradt, who traded and tipped his friend and fellow retail broker David J. Weishaus. Martin was specifically named as their source in instant messages between Conradt and Weishaus about their illegal trading.
The SEC charged Conradt and Weishaus with insider trading on November 29. Martin, who fled the U.S. to Australia soon after learning about the SEC’s investigation, currently lives in Hong Kong.
"Martin is a licensed professional who knowingly disregarded insider trading laws to enrich himself, and then fled the United States when he learned of our investigation," said Daniel M. Hawke, Director of the SEC’s Philadelphia Regional Office. "Martin could run but he could not hide, as the long arm of the SEC will extend to those who flee the United States hoping to avoid the consequences of their unlawful conduct."
The SEC alleges that Martin’s attorney friend expected him to maintain information in confidence and refrain from illegal trading or disclosing it to others. The attorney sought moral support, reassurance, and advice when he privately told Martin about his new assignment working on the IBM-SPSS acquisition. The lawyer disclosed to Martin such details as the anticipated transaction price and the identities of the acquiring and target companies while he was describing the magnitude of the assignment.
According to the SEC’s complaint, Martin attempted to purchase SPSS common stock on the very first business day after learning the nonpublic information from his friend. His first three orders were cancelled because he did not have sufficient funds in the account to make the purchases, but he later wired $50,000 from his checking account into his brokerage account to purchase SPSS shares.
The SEC’s complaint alleges that Martin, Conradt and Weishaus violated Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5. The SEC is seeking disgorgement of ill-gotten gains with prejudgment interest and financial penalties, and a permanent injunction against the brokers.
The SEC’s investigation, which is continuing, is being conducted by Mary P. Hansen, A. Kristina Littman, and John S. Rymas in the SEC’s Philadelphia Regional Office. G. Jeffrey Boujoukos and Catherine E. Pappas in the Philadelphia office are handling the litigation.
The SEC acknowledges the assistance of the Options Regulatory Surveillance Authority (ORSA), the New Zealand Securities Commission, and the Australia Securities and Investments Commission. The SEC also acknowledges the assistance of the U.S. Attorney’s Office for the Southern District of New York and the Federal Bureau of Investigation.
SEC CHARGES BROKERAGE FIRM FOR FAILING TO CURB MARKET MANIPULATION
FROM: U.S. SECURITIES AND EXCHANGE COMMISSIONWashington, D.C., Dec. 18, 2012 — The Securities and Exchange Commission today charged a Toronto-based brokerage firm and its top two executives for failing to supervise overseas day traders who used the firm’s order management system to engage repeatedly in a manipulative trading practice known as layering.
In layering, a trader places orders with no intention of having them executed but rather to trick others into buying or selling a stock at an artificial price driven by the orders, which the trader later cancels. The SEC’s investigation found that Biremis – whose worldwide day trading business enabled up to 5,000 traders on as many 200 trading floors in 30 countries to gain access to U.S. markets – failed to address repeated instances of layering by many of the overseas day traders using its system. The firm’s co-founders Peter Beck and Charles Kim ignored repeated red flags indicating that overseas traders were engaging in layering manipulations. Biremis served as the broker-dealer for an affiliated Canadian day trading firm, Swift Trade Inc.
Biremis and the two executives agreed to a settlement in which the firm’s registration as a U.S. broker-dealer is revoked and permanent industry bars are imposed on Beck and Kim, who also will pay a combined half-million dollars to settle the SEC’s charges.
"Engaged and forceful supervisors are the first line of defense against individual misconduct in financial services companies," said Robert Khuzami, Director of the SEC’s Division of Enforcement. "Beck and Kim were neither, as they saw obvious red flags of market manipulation by their firm’s traders but failed to respond or take any steps to prevent the manipulation. They have learned the painful lesson that supervisors who fail to heed repeated red flags of misconduct will no longer have any place in the securities industry."
According to the SEC’s order instituting settled administrative proceedings, Biremis, Beck, and Kim exercised substantial control over the overseas day traders. They backed the traders’ trading with capital from Biremis, determined the amount of Biremis capital available to each individual trader to purchase stocks, and set and enforced daily loss limits on each trader. They also wielded authority to reprimand, restrict, suspend, or terminate traders.
The SEC’s order found that many of the Biremis-affiliated overseas day traders engaged in repeated instances of layering from January 2007 to mid-2010. Beck and Kim learned from numerous sources – including three U.S. broker-dealers and a Biremis employee – that layering was occurring, yet they failed to take any steps to prevent it. For example, in spring 2008, representatives of one U.S. broker-dealer warned Beck and Kim that certain overseas traders were "gaming" U.S. stocks by altering those stocks’ bid and offer prices in order to buy or sell the stock at the altered price. Beck and Kim failed to act on this information.
According to the SEC’s order, Biremis also failed to retain virtually all of its instant messages related to its broker-dealer business, and failed to file any suspicious activity reports (SARs) related to the manipulative trading.
"Broker-dealers must recognize that their supervisory responsibilities over their associated persons don’t end at the U.S. border," said Antonia Chion, Associate Director of the SEC’s Division of Enforcement. "Broker-dealers face severe consequences if they fail to supervise their traders who engage in manipulative trading, whether those traders are located in the U.S. or abroad."
The SEC’s order finds that Biremis, Beck, and Kim failed reasonably to supervise the firm’s associated persons (the overseas day traders) with a view to preventing and detecting their layering manipulations. The order also finds that Biremis willfully violated Exchange Act Section 17(a) and Rule 17a-8 by failing to file SARs and Section 17(a) and Rule 17a-4(b)(4) by failing to retain instant messages.
The SEC’s order revokes Biremis’ registration as a broker-dealer and requires the firm to cease and desist from committing or causing violations of Exchange Act Section 17(a) and Rules 17a-4(b)(4) and 17a-8. The SEC imposed permanent industry bars on Beck and Kim, who each agreed to pay penalties of $250,000. Biremis, Beck, and Kim neither admitted nor denied the findings contained in the SEC’s order.
The SEC’s investigation was conducted by senior counsel Paul J. Bohr and supervised by assistant director Ricky Sachar. The SEC acknowledges the assistance of the Ontario Securities Commission, the U.K. Financial Services Authority, and the Financial Industry Regulatory Authority (FINRA).
U.S. FEDERAL TRAVEL REIMBURSEMENT RATES WILL NOT BE RAISED IN FY 2013
FROM: U.S. GENERAL SERVICES ADMINISTRATION
GSA Freezes Federal Travel Reimbursement Rates
Per Diem Rates for Fiscal Year 2013 Remain at 2012 Levels to cut costs
Aug. 14, 2012
WASHINGTON -- Today, the U.S. General Services Administration (GSA) announced it will set government-wide per diem travel reimbursement rates for fiscal year (FY) 2013 at current 2012 levels. The action will help federal agencies meet the Obama Administration's directives to reduce travel costs government-wide. GSA sets the federal government’s reimbursement rates for lodging, meals, and incidentals for federal employees’ official government travel. Freezing the federal travel reimbursement rates will save an estimated $20 million in avoided costs in FY 2013.
This action supports an Office of Management and Budget memorandum, directing federal agencies to decrease all travel spending in FY 2013 by 30 percent compared to FY 2010. In addition, as part of Acting Administrator Dan Tangherlini’s ongoing top-to-bottom review of GSA operations, freezing per diem rates is one of several measures the administrator has taken to ensure the agency is closely evaluating travel spending.
"GSA is undergoing a rigorous review process to find ways in which we can streamline agency operations and save money across the government," said Tangherlini. "By keeping per diem rates at current levels, we are supporting federal agencies in controlling costs and ensuring that taxpayer dollars are used wisely."
GSA Freezes Federal Travel Reimbursement Rates
Per Diem Rates for Fiscal Year 2013 Remain at 2012 Levels to cut costs
Aug. 14, 2012
WASHINGTON -- Today, the U.S. General Services Administration (GSA) announced it will set government-wide per diem travel reimbursement rates for fiscal year (FY) 2013 at current 2012 levels. The action will help federal agencies meet the Obama Administration's directives to reduce travel costs government-wide. GSA sets the federal government’s reimbursement rates for lodging, meals, and incidentals for federal employees’ official government travel. Freezing the federal travel reimbursement rates will save an estimated $20 million in avoided costs in FY 2013.
This action supports an Office of Management and Budget memorandum, directing federal agencies to decrease all travel spending in FY 2013 by 30 percent compared to FY 2010. In addition, as part of Acting Administrator Dan Tangherlini’s ongoing top-to-bottom review of GSA operations, freezing per diem rates is one of several measures the administrator has taken to ensure the agency is closely evaluating travel spending.
"GSA is undergoing a rigorous review process to find ways in which we can streamline agency operations and save money across the government," said Tangherlini. "By keeping per diem rates at current levels, we are supporting federal agencies in controlling costs and ensuring that taxpayer dollars are used wisely."
ANTARTIC CAMPSITE FOUND THAT MAY HAVE BEEN USED BY FAMOUS 1912 EXPEDITION
Captain+Robert+Falcon+Scott,+leader+of+the+Terra-Nova-Expedition+Herbert+Ponting,+WIKIMEDIA+COMMONS.jpg) |
| Captain Robert Falcon Scott, leader of the Terra-Nova-Expedition ,1911-1913, in polar gear. From: Wikimedia Commons. |
FROM: NATIONAL SCIENCE FOUNDATION
December 13, 2012
A National Science Foundation-funded research team working on the slopes of the world’s southernmost active volcano appears to have found the remains of a camp used by explorers of the so-called "Heroic Age" of Antarctic exploration, a century after the camp was abandoned.
Although photos of the site, known as "the highest camp", appear to match an archival photograph taken by members of the 1912 Terra Nova expedition led by Royal Navy Captain Robert F. Scott, conservators from the New Zealand-based Antarctic Heritage Trust have been asked to verify the historic find.
The find comes in the closing days of the centennial of the so-called "Race to the Pole" between Scott and Norwegian Roald Amundsen. Amundsen reached the geographic South Pole on Dec. 14, 1911, five weeks before Scott’s party. In the tragic finish to the race, Scott and his men perished on the ice on their return trip, only a few miles from safety.
A ring of stones, where a tent once stood in what may have been a Terra Nova campsite, was discovered by Clive Oppenheimer, a volcanologist at Cambridge University in the United Kingdom. Oppenheimer is working on Mt. Erebus, a 14,500-foot, ice-covered volcano, as part of a team of NSF supported researchers led by Phillip Kyle of the New Mexico Institute of Mining and Technology.
With support from NSF, Kyle has been studying Mt. Erebus for decades. The volcano is unique in the world, not only because of its location, but also because of other features, notably a lake of lava deep in the ice-covered crater.
Oppenheimer is the first known visitor to the site since Scott's men left. He found it using a combination of written accounts and historic images from the Scott Polar Research Institute in Great Britain, which was founded by one of the party that climbed the volcano in 1912.
Although Oppenheimer is working on Erebus as a member of a team supported by the U.S. Antarctic Program, which is managed by NSF, he found the site during a break in the research work.
NSF is taking steps, along with international partners New Zealand and the U.K., to insure that the archeological value of the site is maintained.
A survey will record the area and search for items that may have been left behind in 1912.
A number of the Heroic Age huts used by explorers such as Scott and Sir Ernest Shackleton in the early years of the 20th century, have similarly been preserved and contain a wide range of artifacts--from scientific equipment to expedition supplies--that have been extraordinarily well preserved by the extremely cold and dry Antarctic climate
Records show that a camp was erected in 1912 by a team from the shore party of the Terra Nova Expedition that climbed Mt. Erebus. This was the second group to examine the summit region of Mt Erebus. A group from Shackleton’s Nimrod Expedition (1907-1909), including famed Australian geologist Sir Douglas Mawson, was the first to climb Erebus and observe the active lava lake in 1908.
The team that camped at this site was led by geologist Raymond Priestley and included Tryggve Gran, a Norwegian ski specialist; Frederick Hooper, formerly a steward on the Terra Nova; Royal Navy Able Seaman Harry Dickason; Petty Officer George Abbott and geologist Frank Debenham. They undertook mapping and collected geological specimens.
It was during his time on Mt. Erebus that geologist Frank Debenham had the idea of a "Polar Research Institute." After serving in World War I, Debenham was named the founding director of the University of Cambridge's Scott Polar Research Institute.
Philippe Foster Back, granddaughter of Frank Debenham and chair of the United Kingdom Antarctic Heritage Trust, said "Clive Oppenheimer's location of the original 'highest camp' is a wonderful addition to all the activity which has taken place throughout 2012 to mark the centenary of Captain Scott's expedition. It is a reminder of both the dangers and thrills of Antarctic science and a fitting tribute to the great legacies of exploration and discovery left to us by all the brave men of that party."
Atop an Antarctic Volcano, NSF-funded Researcher Finds Camp Site from the "Heroic Age" of Antarctic Exploration
EPA SETS LIMITS FOR E. COLI IN DRINKING WATER
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| Credit: Wikimedia Commons |
EPA Updates Rule for Pathogens in Drinking Water, Sets Limit for E. Coli
WASHINGTON - The U.S. Environmental Protection Agency (EPA) has updated the rule for pathogens in drinking water, including setting a limit for the bacteria E. coli to better protect public health.
The Revised Total Coliform Rule ensures that all of the approximately 155,000 public water systems in the United States, which provide drinking water to more than 310 million people, take steps to prevent exposure to pathogens like E. coli. Pathogens like E. coli can cause a variety of illnesses with symptoms such as acute abdominal discomfort or, in more extreme cases, kidney failure or hepatitis.
Under the revised rule, public drinking water systems are required to notify the public if a test exceeds the maximum contaminant level (MCL) for E. coli in drinking water. If E. coli or other indications of drinking water contamination are detected above a certain level, drinking water facilities must assess the system and fix potential sources and pathways of contamination. High-risk drinking water systems with a history of non-compliance must perform more frequent monitoring. The revised rule provides incentives for small drinking water systems that consistently meet certain measures of water quality and system performance.
Public water systems and the state and local agencies that oversee them must comply with the requirements of the Revised Total Coliform Rule beginning April 1, 2016. Until then, public water systems and primacy agencies must continue to comply with the 1989 version of the rule.
The Safe Drinking Water Act requires that EPA review each National Primary Drinking Water Regulation, such as the Total Coliform Rule, at least once every six years. The outcome of the review of the 1989 Total Coliform Rule determined that there was an opportunity to reduce implementation burden and improve rule effectiveness while at the same time increasing public health protection against pathogens in the drinking water distribution systems. EPA’s revised rule incorporates recommendations from a federal advisory committee comprised of a broad range of stakeholders and considers public comments received during a public comment period held in fall 2010.
EPA ADMINISTRATOR LISA P. JACKSON ANNOUNCES SHE IS LEAVING CABINET
FROM: U.S. ENVIRONMENTAL PROTECTION AGENCYSTATEMENT BY EPA ADMINISTRATOR LISA P. JACKSON ANNOUNCING HER LEAVING CABINET AFTER STATE OF UNION
WASHINGTON -- I want to thank President Obama for the honor he bestowed on me and the confidence he placed in me four years ago this month when he announced my nomination as Administrator of the Environmental Protection Agency. At the time I spoke about the need to address climate change, but also said: "There is much more on the agenda: air pollution, toxic chemicals and children’s health issues, redevelopment and waste-site cleanup issues, and justice for the communities who bear disproportionate risk." As the President said earlier this year when he addressed EPA’s employees, "You help make sure the air we breathe, the water we drink, the food we eat are safe. You help protect the environment not just for our children but their children. And you keep us moving toward energy independence…We have made historic progress on all these fronts." So, I will leave the EPA confident the ship is sailing in the right direction, and ready in my own life for new challenges, time with my family and new opportunities to make a difference.
CALLING AFGHANISTAN
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| Air Force Senior Airman Keshia Shutts receives a Christmas morning phone call from President Barack Obama while deployed at Kandahar Airfield, Afghanistan, Dec. 25, 2012. Obama called Shutts to wish her a Merry Christmas and thank her for her service. They talked about her 3-year-old daughter and her upcoming wedding. U.S. Air Force photo by Capt. Tristan Hinderliter |
Face of Defense: Airman Gets Presidential Christmas Call
By Air Force Capt. Tristan Hinderliter
451st Air Expeditionary Wing
KANDAHAR AIRFIELD, Afghanistan, Dec. 26, 2012 - "Hello, President Obama? ... I'm great, how are you?"
So began the most memorable phone call of a six-month deployment for Air Force Senior Airman Keshia Shutts with the 451st Expeditionary Logistics Readiness Squadron here, who received a Christmas morning phone call from President Barack Obama.
The commander in chief thanked Shutts for her service and asked if she had been able to talk to her 3-year old daughter, Sienna, back home in Angola, Ind. He also asked if Shutts, who is engaged, had set a date for her wedding ceremony.
"September 1, 2013," she replied. "You're more than welcome to attend our wedding."
Shutts, originally from Montpelier, Ohio, is deployed from the Ohio Air National Guard's 121st Logistics Readiness Squadron, based at Rickenbacker International Airport in Columbus, Ohio.
She is nearing the end of a six-month deployment to Kandahar Airfield, Afghanistan, where she has worked as an administrative assistant in the 451st ELRS command section for the last five months. She was nominated by her command to receive the call from the president in recognition of her outstanding performance.
"Airman Shutts conducts herself as a true quality airman," said Air Force Lt. Col. Manuel Perez, the 451st ELRS commander. "She demands perfection and professionalism and she really sets the example."
In addition to her official duties, Shutts volunteered at the Role 3 hospital, at the USO and as a victim advocate in the wing's Sexual Assault Prevention and Response program. She also mentored 30 Afghan children at the Kandahar Bazaar School.
Volunteering at the hospital and working with the Afghan children have been two highlights of her deployment, Shutts said.
Since Shutts has been at KAF, she has also completed Airman Leadership School and is pursuing her second bachelor's degree, in nursing.
"For me, nominating her was a no-brainer," Perez said. "If I had to pick my No. 1 airman in the squadron it would be her."
Shutts, who has been selected for staff sergeant and will sew on her new chevrons next month, said it was an honor to be selected to receive the phone call from the president.
"It was awesome," she said of the call. "Definitely a once-in-a-lifetime opportunity."
RECENT U.S. NAVY PHOTOS
FROM: U.S. NAVY, USS MOBILE BAY
121218-N-LV331-132 ARABIAN SEA (Dec. 18, 2012) Sailors hold a fuel line during a helicopter-in-flight refueling exercise aboard the Ticonderoga-class guided-missile cruiser USS Mobile Bay (CG 53). Mobile Bay is deployed with the John C. Stennis Carrier Strike Group to the U.S. 5th Fleet area of responsibility conducting maritime security operations, theater security cooperation efforts and support missions for Operation Enduring Freedom. (U.S. Navy photo by Mass Communication Specialist 2nd Class Armando Gonzales/Released)
121218-N-DC018-561 VIRGINIA BEACH, Va. (Dec. 18, 2012) Strike Fighter Squadron (VFA) 83, part of Carrier Air Wing (CVW) 7, returns to Naval Air Station Oceana after a six-month deployment to the U.S. 5th and 6th Fleet areas of responsibility supporting Operation Enduring Freedom, maritime security operations and theater of security cooperation efforts. (U.S. Navy photo by Mass Communication Specialist 2nd Class Antonio P. Turretto Ramos/Released)
THINGS ARE NOT PEACHY AT TWO GEORGIA BASED TAX PREPARERS
FROM: U.S. DEPARTMENT OF JUSTICEJustice Department Seeks to Shut Down Georgia Tax
Preparers
Falsify Tax Returns, Costing U.S. Treasury More Than $100 Million Dollars
The United States has asked a federal court in Atlanta to bar Larry J. Heath, who operates Heath’s Income Tax II in Cartersville, Ga., and his brother Andrew R. Heath, who operates Excellent Tax Service of Acworth, Ga., from preparing tax returns for others, the Justice Department announced today. According to the government complaint, the Heaths and their businesses have repeatedly prepared federal tax returns that unlawfully understate customers’ federal tax liabilities. The suit alleges that the defendants concoct bogus losses, expenses, education credits, business expenses and charitable contributions, which they falsely report on their customers’ federal income tax returns.
According to the complaint, the Internal Revenue Service (IRS) previously suspended Larry Heath’s IRS-issued electronic filing identification number (EFIN) because of the large number of erroneous returns he prepared. In response, the complaint alleges, Larry Heath purported to "sell" his business to two different individuals and used their EFINs to continue to file tax returns.
The suit alleges that the IRS has examined thousands of income tax returns prepared by the Heaths and their businesses and found that 94.5 percent of tax returns required IRS adjustments. According to the complaint, the total harm to the U.S. Treasury caused by Larry and Andy Heath’s misconduct could exceed $100 million.
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