Republican Candidate defeated in N.Y. election over Medicare issue

The outcome of the special elections that was conducted in New York has shown that the Americans have more confidence on the Democratic party policy on Medicare than the Republican Party. The republicans paid for it as they lost the seat they have traditionally held for than 40 years in New York.

An independent poll conducted agreed that it was the issue of Medicare more than any other issue that made the voters to choose the democratic candidate Katty Hochul over the Republican Jane Corwin who was a sitting member of the house. The democratic is already seeing the outcome of the election as a clear evidence that the Republican policy on Medicare is backfiring.

The outcome of the election may have affected the senate rejection of the house bill for the Medicare policy by 57 to 40 votes. Even some republicans voted against the party position when the senate conducted their vote over the issue. Boosted by the outcome of the New York election the chairman of the democratic party congressional campaign committee Steve Israel boasted that the party will win up to 97 seats in the House of Representatives in 2012 which is more than the 68 seats that they lost in last elections.

New York City plans 6,000 teacher dismissal

Michael Bloomberg the major of the city of New York has presented a budget proposal of $65.7 billion for the 2012 fiscal year. The budget does not have provision for any new taxes however it has cut down the teaching positions in the city by about six thousand.

The major said that the budget was predicated on the expected income from the state and federal governments but he said that there are expected reductions in federal and state funding this he said would lead to provision of fewer jobs and the reduction on the quality of services that are provided.

He said that the city is doing well more than most other cities in the country. He noted that the agency cost control which the city has embarked upon since 2008 has cut down the expenditure of the council by $5.4 billion in one year, however the council according to him is yet to overcome the mounting fixed and mandated expenses from the state.

He noted also that the amount paid as pension has increased from $1.5 to $8.4 from 2002 to 2012. He observed that the city of New York is not immune from the economic realities of the situations in Washington and Albany and observed that the city of New York is not island of its own. He blamed the city’s woes to the state and federal government.

Flights resume in New York following worst blizzard in 60 years

Main airports in New York City have restarted all their flight operations after the last blizzard. It has been the heaviest December in last 60 years as per the meteorological department with snowstorm and snowfall reaching 51 centimeters and above. Entire Northeast, California and many states in the Midwest and South too faced gush of high speed winds and freezing temperatures.

According to the National Weather Service, New York had a 20 inches thick snow cover but sky was clear by morning.

Around 6,000 flights have been cancelled since yesterday due to blizzard.  LaGuardia, John F. Kennedy International and Newark Liberty airports in New York and New Jersey resumed their service last night, airport authorities revealed.

People regarded this snowstorm as worst than ever before. The authorities of New York city also stated that repairing work and clean up cost after the snowstorm will toll much on the city budget while also bear the loss due to loss of revenue due to activities hampered in storm.

The storm speeding winds at a speed of30 to 40 miles per hour arrived to New York on December 26.After Christmas sales were badly affected due to blizzard as most of the shoppers preferred staying home.

Foreign Exchange Ponzi Scam Uncovered

Bradley D. Eisner from New York who was operating a foreign exchange ponzi scheme was sentenced for five years probation by U.S. District Judge Dora Irizarry in Brooklyn. Eisner who defrauded his customers of $66 million, came forward reported himself about the ponzi scheme run under Razor FX.

According to Federal guidelines such a financial fraud called for a prison term up to 15 years and 8 months. According to Eisner’s lawyer, this is an extraordinary case where the court rewarded the defendant for showing the courage to stop a big financial scam and his willingness to admit being guilty.

Eisner and his partner MacCaull allegedly used the Razor FX investors’ money for their personal expenses and fabricated account statements when they returned millions of dollars to earlier investors with funds from new investors.

Investors should be aware of the various scams going on in foreign exchange market. Before of any get quick rich schemes including managed forex accounts and fraudulent brokers. While they are not entirely scams, do your research properly before you buy any software like Automated Pips or applications that offer easy way of doubling your investments.

Gorilla Glass

New York: – Gorilla glass an ultra strong glass that was invested in 1962 is gaining fast popularity.
Gorilla glass which could not find a commercial use has finally picked up, as stylish HDTV models and touch-screen devices are spreading among consumers. And as a result the 1962 Gorilla glass on the brink to become a multibillion-dollar business for the 159-year-old glass pioneer Corning Inc.

Gorilla demonstrated early promise in the 1960s, but failed to find a business use, and hence was waiting for its time in a hilltop research lab for nearly a half-century. Gorilla Glass picked up its first client in the year 2008 and has swiftly become a $160 million a year business as a shielding layer over the screens of more than 35 million mobile phones and other mobile equipments.

What makes the Gorilla Glass looks promising is the latest trend in HDTVs which is Frameless flat-screens. Since Gorilla glass is very tough to break or scratch, the company is expecting that it will be the glass of choice as HDTV-set producers when the TV manufacturers starts eliminating the plastic and metallic frames for a stylish chic-look.
According to company scientists Gorilla glass is two to three times stronger than chemically strengthened versions of ordinary soda-lime glass, even when just half as thick. This means TV manufacturers can make flat screen panels with Gorilla glass thinner than a dime, saving on weight and shipping costs.

Corning Inc which is based in New York, is the world’s largest manufacturer of glass for liquid-crystal-display computers and TVs. High-margin LCD glass generated the bulk of Corning’s $5.4 billion in 2009 sales. By ramping up production volume rapidly in a growing market, Corning is following a well-worn tactic intended to keep rivals from gaining ground. Corning is in talks with Asian HD TV manufacturers to get Gorilla to the Television market in 2011 and expects to reach its first deal soon.