Archive for December 3rd, 2009
Thursday, December 3rd, 2009
Minnesota businessman Tom Petters has been found guilty of orchestrating a $3.5 billion Ponzi scheme.
According to the government, Petters attracted massive investments from hedge funds and other institutions, ostensibly to buy consumer electronic goods and re-sell them to national big-box stores like Costco and BJ’s. But there was no such buying and selling.
Petters argued that others ran the scheme without his knowledge, including two former company executives who have already pleaded guilty in the case.
Regardless, Petters lived luxuriously, including multi-million dollar mansions in Minnesota, Florida and Costa Rica and cars made by Bentley and Ferrari.
The St. Paul, Minn. jury deliberated for five days on 20 counts including wire fraud, mail fraud, conspiracy and money laundering.
Petters faces up to life in prison.
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Thursday, December 3rd, 2009
A slim majority of the Honduran Congress on has voted against the reinstatement of ousted President Manuel Zelaya.
According to a state television channel report, 64 members of the 126 lawmakers attending the meeting refused Zelaya’s return to the presidency following a six-hour debate late yesterday.
Zelaya’s restitution has remained as the key issue in the political crisis since the former president was ousted in a June 28 coup and forced to exile in Costa Rica.
Under the mediation of Costa Rica, the two sides agreed to forma unity government and hold general elections on Nov. 29.
Opposition candidate Porfirio Lobo claimed victory after the Sun Nov 29 election, but the newly elected president is now facing an international division.
Many countries, especially those in Latin America, refuse to recognise any new government and insist on Zelaya’s immediate restoration to the presidency.
Some others, however, including the United States, Canada, Peru, Costa Rica, and Panama, have decided to recognise the outcome of the election as long as the process proves to have been clean and transparent.
Zelaya has been staying in the Brazilian embassy in Tegucigalpa since returning to Honduras in late Sept.
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Thursday, December 3rd, 2009
The cost of living in Costa Rica has gone up and the latest report on basic prices and services by the Ministerio de Economía, Industria y Comercio (MEIC) confirms it.
The MEIC study compares the items of the “canasta basica” (basic basket) of 37 items representative of the needs of a family of 4.
The study reveals that it the cost has increased ¢7.436 over the same period last year (October 2008 compared to October 2009), for the items purchased at stores with the lowest prices.
The MECI also found price differences for the same items at different supermarkets, including stores operated by the same chain.
The MEIC study shows that last October, a family of 4 has to spend ¢87.608 colones at the Palí store in Tres Rios (east side of San José), whiel the same products costs ¢80.172 colones at the Hipermás in Escazú.
The Palí and Hipermás are operated by the same retail chain, Wal-Mart de Costa Rica.
The MEIC study also revelas prices differences at competing supermarkets.
For instance, the MEIC found that a family shopping at the up scale Automercardo supermaket, the total of the items in the canasta basica came to ¢99.136 colones.
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Thursday, December 3rd, 2009
Costa Rica has recorded its 41st death to the AH1N1 flu virus. The latest victim is a 51 year old man who died last November 29 at the Hospital Calderón Guardia.
The man’s identity was not released, health officials only saying that the man was a resident of Cartago.
The ministra de Salud, Maria Luisa Avila, said that the man had been in critical condition since being infected with the AH1N1 virus. The man died from a heart attack and multiple organ failure.
The ministerio de Salud is asking the population not to let their guard down and to seek medical attention at the sign of any symptoms.
In the coming weeks, Costa Rica is expected to receive 400.000 vacine doses against the AH1N1. The vaccines will be distributed free of charge to the population, with the first doses being administered to those in the high risk group that includes the obese, asthmatics and pregnant women and to all medical staff at the country’s hospitals and Ebais’ (clinics).
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