Archive for April, 2009

30 AprWorld News: Financial Markets See More Contractions

Financial marketing


Last week’s announcement that the US was officially in recession was a bit of a non event. A recession has been in train for both the UK and US economies for some time, but optimism or fear over its severity has been waxing and waning over recent weeks, as world governments released various stimulus packages. Last week was certainly not for the optimists, with investors flying to the safety of US Treasuries, pushing the benchmark yield down to record lows. Friday NF Payroll numbers confirmed what many Americans are already experiencing; the number of people in private employment is falling. Like readily available credit, jobs are being squeezed on both sides of the Atlantic.

The latest UK purchasing managers’ survey showed that UK manufacturing fell at a record pace in November. The falls mirror similar record declines in US manufacturing which also contracted the most since 1992. The outlook for the UK in particular looks grim, with mortgage lending falling to near record lows. The poor manufacturing data and dramatic interest cuts sent the pound sharply lower against most major currencies. Last week, the pound hit 0.87250 against the Euro, its lowest level since the introduction of the European single currency.

Demand for US Treasuries shows no signs of stopping. In addition, sovereign credit default swaps have gone through the roof, reflecting both the cost of the planned stimulus packages and the growing severity of the global recession. At the start of the year, Credit default spread for the UK were just 8.9. Last week they moved higher than 125, meaning it would cost $125 to insure a $10,000 sovereign investment. Germany currently has the lowest CDS levels, while Argentina has rocketed to over 4,000. Russia is also elevated with CDS levels approaching 800. With its extreme moves, the bond market is telling one story, while the stock market recovery on Friday told another slightly less apocalyptic tale.

Resource and energy stocks were under pressure as crude prices continue to slide. Oil prices made a century of sorts last week, at below $47, oil prices have now fallen over $100 from their peak in July. The decline is all the more remarkable when you consider the fact that oil started the year under $100. Crude eventually closed the week at just above $40, though oil majors such as BP, Shell and Exxon Mobil managed to hold up relatively well. The divergence between oil prices and oil majors may possibly be a function of oil producers being able to extract good margins, as the price at the pumps hasn’t fallen to the same by the same severity as the price of crude.

Next week’s stand out economic announcements include UK PPI on Monday, and manufacturing production on Tuesday. US pending home sales are released on Tuesday afternoon with trade balance and unemployment claims out on Thursday. With Christmas around the corner, US retail sales will be followed closely on Friday, as will the University of Michigan consumer sentiment numbers. When markets go up on bad news, it can be a positive sign that buyers are willing to step in and take control. Friday’s rally brought the S&P 500 just shy of 900 and while a rally from here is very possible, there may be some overhead resistance above 900.

A one touch trade predicting that the S&P 500 will touch 899 at any time during the next 9 days could return 15% at BetOnMarkets.



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30 AprTaking a Bahama Cruise for Spring Break 2009



The dream of a lifetime for some college students is a combination of cruise and sightseeing. Bahama cruises have become very popular for spring break and are not as expensive as people think. There are numerous cruise lines that can accommodate your desired length or travel, ports of call, and pampering.

It is best to decide exactly when you want to travel and for how long before researching cruise packages. March through April sees seasonable weather of seventy to seventy five degrees in the Bahamas, and about ten degrees higher the rest of the year. Determine how long you want to travel, not counting air time getting to and from Florida to depart. Each cruise line offers different arrangements. For example, Royal Caribbean Cruiselines offer 3, 4, and 5 night sailing cruises for a weekend getaway.

Once you’ve decided on the cruise you want to take, it’s time to determine how much you want to spend on the cruise ship accommodations. Face it, you’re going to the Bahamas, the weather will be ideal for sunning, swimming, and water sports, and you will probably want to take advantage of all of them. If you’d rather spend your money on gifts and fun activities at your various ports of call, look into cheaper staterooms. These could be on lower decks or on the inside and they usually drop your entire trip price down considerably.

About the only thing the price you pay for your cruise package does not include is gratuities, personal expenses, alcoholic beverages (included with some trips), and any shore excursion fees at the various ports of calls. Hotel taxes are also not included, so vacationers need to make sure they take some spending money with them to cover these things.

Every cruise packages is also different. They can include honeymoon packages, high school packages, all inclusive, and spring break packages. When you are sitting down with your travel agent going over all of this information, you will need to find the perfect time of year to go at the best rate for what you have to spend. Cruise packages start as little as $189.00 for four nights and can peak at well over a thousand dollars. If the cruise you want is too much because of the time of year, shift your focus and look for a better way.

Some Bahama cruise deals also offer you the luxury of being able to stay on land overnight at a specific port of call. If you want to tour the Bahamas more extensively, or have the desire to go snorkelling or participate in other activities, you may want to look into how this can be accomplished. There is an extra fee for this service, but it might be well worth it to experience the activity.



About Author:
Damon Lindner is the author of this article on Spring Break 2009. Find more information about Spring Break Travel here.

30 AprTax Preparation Tips: Tips to Save Money on Your Taxes



By avoiding costly mistakes and unearthing the many opportunities to save money that are buried in your return, you will make some money from submitting your tax return. That should be good news for you to work on. Here are some tips to help you when doing your tax preparation.

1. If you are a do-it-yourself, you need to do your taxes with software or online. Do not buy the software because it will cost you less and save money if you use the popular programs like Turbo Tax (turbotax.com) TaxAct (taxact.com) or TaxCut (taxcut.com). All these support e-filing. Use these programs and save money.

2. Retirees: Save money and save

The IRA limit for 2005 is $1,000 higher than it was in 2004. If you qualify for a deduction, funding an IRA will lower your tax bill. You can make traditional IRA deposits as late as April 17.

3. Hurricane relief for all.

Congress has passed a tax bill that benefits those who lived in the hurricane affected area and all Americans who helped. For hurricane victims, you can deduct your casualty losses. For hurricane volunteers who drove, you can claim 34 cents a mile and if you housed victims for at least 60 days in a row, you can deduct $500 per person (four max) and gifts made to any charity after August 28, 2005 are fully deductible, even if they exceed 50% 0f your AGI.

4. Child Tax credits

You can take the full $1,000 credit for a child under 17 years of age as long as your AGI is under $110,000 for a married couple or $75,000 for a single parent.

If you take time to examine carefully, you will find that there are several other ways you can save money from your tax return. Among them are helping with college costs, the option to write off from payment of sales tax, expenditure on staying healthy and qualified medical costs. You can also make money by referring to your omission of a write off from investment losses. What you pay to manage your money, safe deposit box fees also count for deductions. If you are working from home, remember that you qualify for deductions on costs of your operating premises should you use it totally for the purpose. Identify which of these benefits you can sue to assist you in making your tax preparation.



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30 AprSelecting A Divorce Lawyer

A divorce signifies the end of a marriage, along with termination of the bonds of matrimony. A divorce may sometimes also include issues of child support, child custody, spousal support, and division of property and debt. Every state has its own legal requirements when it comes to divorce. Theres no question that no one looks forward to this tiring and difficult experience, and no one plans this when getting married.

Finding the right lawyer is essential to help guide you through this harsh process, and choosing the right lawyer involves more than randomly pointing your finger on the first name you see on the yellow pages. Picking the right divorce lawyer is an important decision, and there are several factors to keep in mind in choosing one.

First off, common sense dictates that its crucial to pick a lawyer with skill, experience, expertise, and a good track record. It is vital to choose a lawyer with ample experience in the field of divorce law. An experienced divorce lawyer will know the ins and outs of various state laws governing divorce.

Testimonials on prospective lawyers should also be looked into. Find out what their former clients have to say about them. Divorce is never a pleasant experience, and some divorce lawyers in Jacksonville, FL have a good track record in satisfying their clients needs and reaching amicable settlements than other lawyers. The best lawyers in Jacksonville wont hesitate in providing you with a list of satisfied clients. Hearing about their experiences with a prospective lawyer can help you make a decision.

Its important to choose divorce lawyers in Jacksonville, FL who are accessible. Its crucial to have a lawyer whos easily accessible and prompt in responding to your requests. Divorce is a draining experience as it is, and bad communication will only add to your hair-pulling frustration. You can ask their former clients if their lawyer maintained an easy system for communication.

You should consider the fee being charged by your prospective lawyer. Cost shouldnt be your key deciding factor. Its always important to choose divorce lawyers in Jacksonville, FL with a good record. During the initial consultation, have a thorough discussion with your lawyer on their fees and what to expect. Divorce proceedings are usually a difficult experience and the right lawyer can mean the difference between ease and frustration.

30 AprThe Derailing of Secret Fraternities in Nigerian Higher Institutions

Recent activities of secret fraternities in Edo and Anambra States of Nigeria have once again brought to focus the impact of the activities of the nefarious groups on the polity. Not too long ago, the menace of the fraternities reared its ugly head, when two prominent movie stars were brutally assassinated in Edo State in what was alleged as a frat-related offensive, which culminated in the death of about twenty individuals. Most recently inhabitants of Anambra state were terrorised by frat men, who held the state capital hostage in a brutal frat war between members of two rival groups, which has claimed the lives of many. Like volcanic mountains littered round the country, frat wars intermittently erupt around the country with devastating consequences.

Secret fraternities, sororities, and corporations have been among the prominent landmarks that have dotted the landscape of world history.

Ranging from the various corporations or nations in Europe to the North American fraternities and sororities, such as Phi Beta Kappa, Alpha Gamma Delta, Kappa Kappa Psi, to the Ivy league fraternities, such as the Skull and Bones, Scroll and Key, and the Wolf’s Head Society at Yale; the fraternities have one way or the other been used to define and determine various future outcomes in the world. It is a common knowledge that most United States presidents have been members of one fraternity or the other, and the presidents had as well used the services of their mates in powerful organisations such as CIA, State Department, and Pentagon to sustain the development of their country. Fraternities are basically formed to foster formidable social groups through which various community and humanitarian services could be delivered. Such groups also help to foster professional advancement, and encourage scholastic achievements of members.

No doubt that it was in view of these noble ideals that the first fraternity was brought into the Nigerian landscape in the early fifties to combat elitism and colonial ideologies. In the fifties and sixties, when the existing higher institutions in Nigeria were more or less controlled and dominated by Whites and colonial ideologies, various forms of machinations were employed by the Whites to intimidate and lord things over the black staff and students of the institutions. Victimization, oppression, nepotism, and violations of rights were among the tools used by the Colonialists to carry out certain pro-colonialist agenda.

At the height of this, few black students gradually began to rally round each other to draw strength and support, in order to check the perceived excesses of the Colonialists, who dominated and oppressed them in their very homeland.

The need for the establishment of a fraternity was also heightened by the rising political tension in the country. The 1950s also marked a heightening of the nationalist movement and the sad recourse to tribal alignments in the country. “Quick as always to absorb the worst tendencies of many nationalist movements, the University College, Ibadan, itself became a breeding ground for the worst kind of tribal clubs. The Students’ Representative Council, all forms of students’ activity, including sports; became mere expressions of tribal pettiness” (National Association of Seadogs website, 2005).

It was not long before some of the students who felt energised by the need to turn things around for the positive; by fighting the perceived anti social tendencies both within and outside the university environment, seized the bull by the horn, and began to transmute some of the already existing social clubs into opposition groups – to resist the unwholesome acts and the negative effects on the Nigerian polity.

In the frontline of these crystallizing opposing groups was the Pyrates Confraternity, founded by the renowned Nobel Laureate Professor Wole Soyinka in 1952 at the University College Ibadan, in collaboration with six others – Ralph Okpara, Pius Oleghe, Ikpehare Aig-Imoukhuede, Nathaniel Oyilola, Olumuyiwa Awe, Sylvanus U. Egbuche, who made up the Original Seven that became the initial members of the first officially recorded fraternity in Nigeria (Seadogs website, 2005; Eguavon, 2008).

The fraternity, which started in the then University College Ibadan, nicknamed Jolly Roger 1, was set out to fight among other perceived ills: moribund convention, neo-colonialism, and tribalism and at the same time, defend humanistic ideals, while promoting comradeship and chivalry amongst its members (Oguntuase, 1999). It blossomed in the sixties, and began to spread its tentacles and Decks to other higher institutions in the country. However, it was not long before rancour and acrimony crept into the confraternity, and began to threaten the unity of this family.

In what he alleged as violations of the confraternity’s creed, and what others claimed as his expulsion from the Pyrates, Dr. Bolaji Carew – a.k.a Ahoy Rica Ricardo, decided to correct the observed ills, by pulling out of the Pyrates Confraternity, with some like minds – Kunle Adigun, and Tunde Jawando, to form the Buccaneer Confraternity, in late 1972 (Alora website, 2005). In 1976, the Buccaneers Modaship gave birth to numerous Decks, established in various parts of the country.

The Supreme Eiye Confraternity, which emerged from the University of Ibadan, more or less as a tribal action group, was allegedly founded in 1965 as the Eiye Group by a group of students among whom were Professor Jide Osuntokun, Dele Nwakpele, Bode Sowunmi, Goke Adeniji, Bayo Adenubi, Bode Fadase, Tunde Aluko, Kayode Oke, and Delu Lipede; and later blossomed into a full blown confraternity in 1969 with the University of Ibadan serving as its Mother Nest (Supreme Eiye Confraternity website, 2008, Rotimi, 2005).

As these went on, other fraternities were as well founded. The Neo Black Movement of Africa (Black Axe Confraternity) sprang up from the University of Benin in 1977, allegedly out of their determination to fight for the restoration of the culture, dignity and pride of the black man. Its establishment was perceived as a response to the Sharpeville and Soweto massacres in South Africa. Its newspaper called “Black Axe”, literally stands as the axe with which to cut the white man and those keeping the black man in bondage (Immigration and Refugee Board of Canada, 2005; Black Axe website, 2004, Oguntuase, 1999).

The Supreme Vikings Confraternity was founded at the University of Port Harcourt in 1982 in the then eastern region (Vikings Confraternity website, 2008). Followed by the Klansmen Konfraternity founded in 1983 at the University of Calabar (Welligthon, 2007). The Mafites Confraternity came into existence almost within the same period.

It was not long, before the country was engulfed in the phenomenon – lined north to south, east to west was a plethora of confraternities. As the years went by other notorious campus fraternities were as well formed. At the Enugu State University of Science and Technology (ESUT), the Brotherhood of the Blood, (Black Beret – Two Two) was formed. Needless to say that countless groups appeared among the male folk, including: Second Son of Satan (SSS), Night Cadet, Sonmen, Mgba Mgba Brothers, Temple of Eden, Trojan Horse, Jurists, White Bishops, Gentlemen Clubs, Fame, Executioners, Dreaded Friend of Friends, Eagle Club, Black Scorpion, Red Sea Horse, Fraternity of Friends, and Victor Charlie Boys – allegedly formed by Professor Augustine Ahiazu during his tenure as vice-chancellor of the Rivers State University of Science and Technology (Welligthon, 2007). As the race for supremacy intensified among the fraternities, different sororities began to spring up amongst the female folk; to curtail what they alleged as victimisations and intimidation from both the lecturers and the male folk. Prominent among the sororities are the Amazons, Black Brazier (Black Bra), the Viqueens, Daughters of Jezebel, and the Damsel. Thus, the proliferation continued till date, with ugly dimensions continuously added with each formation.

The emergence of the Buccaneer Confraternity could be perceived as the starting point of the derailing of the various fraternities. That singular action could be viewed as the point where the first seed of discord was sowed and the origin of contention between fraternities. It also marked the initial point of proliferation of fraternities in the polity, as members with dissenting views realised they could easily pull out of an existing fraternity to form an opposing one.

As at 2001, there were over 33 secret fraternities and associations operating in universities across the country, according to a study conducted by the National Universities Commission (NUC).

The spark ignited in 1952 began to spread like wild fire! Violence gradually crept into the campuses through the fraternities during the early eighties. Buoyed by the support and complacency of the various military regimes, the fraternities lost focus of their original cardinal points and violence soared among them. A couple of years later, it became glaring that the fraternities had derailed from their original course – navigating anticlockwise with neither the guiding sight of the Polaris nor the Orion – engaging in activities contrary to the dictates of their creeds. The Pyrates and Buccaneers, realizing what had become of their brainchild, were among the first to publicly denounce and dissociate themselves from the nefarious activities of the modern day frat men, operating in the various higher institutions. The Pyrates, in July 1974, following the Odas of Captain Blood, officially closed down all ‘ABC’ Decks (undergraduate fraternities) all over the country, bidding farewell to active campus affairs. The Buccaneers, during their “DOUBLOON” in 1982 by the Odas of the Grand Eye submerged all the Buccaneering Decks in the country, in a bid to have a grip at the organization once again.

However, just as before, Odas were no longer Odas and the fraternities continued to flourish in the universities, and other higher institutions, while stubbornly insisting that they were still part of the mainstream and were enjoying uninterrupted patronage from the Lords. Apparently due to the misconceptions of the frat men doctrine of ‘Broda Deliver Broda’; the various fraternities ran amok and went on rampage, killing and undermining each other. Rivalry among the various fraternities became the rule of the day, turning the fraternities into social nuisance.

As their counterparts in the world especially in North America were making inroads into the political sphere and bringing about positive changes, our fraternities were busy formulating means of undermining each other as they battle for supremacy.

The main objectives of the first fraternity founded in the country, were thus thwarted from the original plan of fighting social injustice and academic corruption, to fighting and struggling for supremacy and domination, among the different fraternities.

Whether marooned or submerged, the efforts made by the senior frat men to extinguish the already flaring fire in the fraternities in Nigerian higher institutions have failed to achieve the desired results. The horrifying activities of the various fraternities in the schools have pricked the conscience of the nation. It is very shameful that almost six decades after the first fraternity emerged in the Nigerian scene, tertiary institutions in the country have turned into dens for brutes, vandals, assassins, armed robbers, and misguided felons, with close to forty percent of male and twenty percent of the female students belonging to one fraternity or the other.

The alarming resurgence of violence and killings associated with cult activities in the country in the past few years, and their patronage by politicians and university administrators call for serious concern and demand drastic action to combat this repulsive menace. It has become quite obvious that the menace of fraternities, which has eaten deep into the polity – weaving frat men, university administrators, politicians, and high-level government officials into an intricate underground and dangerous network; with the ugly potential of wrecking the nation should not only be submerged, but also entirely torpedoed.

There is no doubt that the current spate of armed robbery and kidnapping in the country is a direct offshoot of the derailing of the fraternities, as most of them have extended their tentacles beyond the fore walls of the institutions into the streets and creeks of the nation. One wonders if most of the present frat guys still understand the creeds that guided their founders and forbearers, which was based on human dignity. Most have been turned into money making ventures, where members are mandated to pay outrageous sums of money as annual dues, which usually forces them into various criminal activities in order not to default; criminal gangs for the intimidation and extortion of fellow students and university staff; political thugs used by unscrupulous politicians to achieve their unwholesome ambitions; as well as participation in a wide range of other anti social activities.

In order to secure the future of the country, urgent attention needs to be paid on how to tackle the derailing of the ‘one-time-commendable’ groups, as the level of insecurity, currently being witnessed in the country is just a tip of the iceberg of what might become of the country if these groups are left untamed. This cankerworm attacking the very base of national development should not be kid-gloved any further.

One fact, which currently seems very obvious to almost every Nigerian, is that confraternities as they exist in the universities and other higher institutions in the country at the moment, are no longer focusing on the purposes or aims for which they were founded; which were basically to fight social injustice and pro-colonialism, but instead have transmuted into deadly antisocial monsters that ought to be curbed without hesitation. Every well-meaning Nigerian needs to stand up and fight it. There is urgent need for a sincere rehabilitation and reorientation of already sworn members, as well as the need for measures to be put in place to adequately punish the criminal elements in them, and dissuade others from falling prey to these groups. If we do nothing to stop the outpouring of blood that has been ongoing in our higher institutions and environs now, the stench will definitely increase to a level we just cannot withstand, even with our nostrils covered.