Wednesday, September 24, 2008

Buffett "Economic Pearl Harbor"+ News

Buffett Calls Crisis an `Economic Pearl Harbor,' Backs Paulson

Sept. 24 (Bloomberg) -- Billionaire investor Warren Buffett, calling the market turmoil ``an economic Pearl Harbor,'' said Treasury Secretary Henry Paulson's $700 billion proposal to prop up the U.S. financial system is ``absolutely necessary.''
``The market could not have taken another week'' like last week, Buffett told CNBC today, a day after saying his Berkshire Hathaway Inc. will buy a $5 billion stake in Goldman Sachs Group Inc. ``I think it was the last thing Hank Paulson wanted to do, but there's no Plan B for this.''
Paulson and Federal Reserve Chairman Ben S. Bernanke are pushing Congress to quickly approve the plan to remove illiquid assets from the banking system. Lawmakers have balked at rubber- stamping the proposal, with Democrats demanding it include support for homeowners and limits on executive pay and Republicans questioning the plan's reach and size.

Russia Proposes Space Weapons Ban
Russian Foreign Minister Sergey Lavrov has proposed that he and his European counterparts work out measures to prevent arms from reaching space. “The time has come for specific negotiations, and it is very important that the countries that can make a contribution to deciding that question take part,” Lavrov said at a press conference after talks with Irish Foreign Minister Michael Martin. Lavrov said that Russia intends to introduce a draft resolution into the UN General Assembly entitled “On Transparency Measures and Strengthening Trust in Space Activities

Bill’s provision may cost Boeing millions
Lawmakers are trying to limit Boeing Corp.’s tenure managing the Army’s biggest modernization program, and that could cost the Chicago-based defense contractor millions of dollars in profit down the road.
A provision in the 2009 defense authorization bill would prevent Boeing from overseeing the project once it moved from the research and development phase to mass production.
Boeing is playing a large role in the management and integration of the various technologies developed by scores of other contractors that will make up the Future Combat Systems (FCS).

Exercise simulates terror attack in Russia
ST. PETERSBURG, Russia, Sept. 24 (UPI) -- An exercise simulating a terrorist attack is under way near St. Petersburg, Russia, testing the emergency response capabilities of authorities in the region.
The two-day exercise, which began Wednesday at a complex of the Russian oil company LUKoil, was designed to simulate a terrorist attack on critical energy infrastructure in Russia.

Taiwan downsizes drill simulating China attack

Soldiers capture a mock enemy building at the Chingchuankang Air Force Base during a Han Kuang exercise drill in Taichung yesterday. Taiwan launched a week of low-key military drills on Monday, axing a live-fire display as the island seeks better ties with its wary political rival, China.

TAIPEI, Taiwan -- Taiwan was forced to downsize a drill yesterday simulating an air attack by China due to an upcoming typhoon, the defence ministry said. The drill, part of the island's biggest live-firing "Han Kuang" exercise of the year, took place in an air base in central Taichung -- but without paratroopers, the ministry said.

Air-sea-land military drill held in northeast China
BEIJING, Sept. 24 (Xinhua) -- A unit of China's People's Liberation Army (PLA) held a military exercise lasting several days in which it tested the synergistic command and battle capabilities of the navy, army and air force, the PLA Daily reported on Wednesday

According to Health Department officials, there will be 10 of the flu shot clinics conducted in Northwest Georgia. The drill in Dade County is different from the others in that the flu shots will be given in a drive-thru situation. Dade is the only county out of the 10 holding flu vaccination drills that will be a drive-thru. ....In a real pandemic flu situation, all of Dade County’s estimated 16,000 residents will need to be vaccinated within a very short time, so the drill will help in assessing any problems that might be encountered.

FAHC infectious disease expert preps for pan flu (VT)
BURLINGTON – A Fletcher Allen Health Care infectious disease expert and his team are preparing the hospital for the possibility of an influenza pandemic, said state Health Department officials.The tools Grace and the hospital have developed to combat a bioterrorism attack are now being used in the event of a pandemic influenza....

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