Cleveland, Ohio clinic performs US’s first face transplant

Thursday, December 18, 2008

A team of eight transplant surgeons in Cleveland Clinic in Ohio, USA, led by reconstructive surgeon Dr. Maria Siemionow, age 58, have successfully performed the first almost total face transplant in the US, and the fourth globally, on a woman so horribly disfigured due to trauma, that cost her an eye. Two weeks ago Dr. Siemionow, in a 23-hour marathon surgery, replaced 80 percent of her face, by transplanting or grafting bone, nerve, blood vessels, muscles and skin harvested from a female donor’s cadaver.

The Clinic surgeons, in Wednesday’s news conference, described the details of the transplant but upon request, the team did not publish her name, age and cause of injury nor the donor’s identity. The patient’s family desired the reason for her transplant to remain confidential. The Los Angeles Times reported that the patient “had no upper jaw, nose, cheeks or lower eyelids and was unable to eat, talk, smile, smell or breathe on her own.” The clinic’s dermatology and plastic surgery chair, Francis Papay, described the nine hours phase of the procedure: “We transferred the skin, all the facial muscles in the upper face and mid-face, the upper lip, all of the nose, most of the sinuses around the nose, the upper jaw including the teeth, the facial nerve.” Thereafter, another team spent three hours sewing the woman’s blood vessels to that of the donor’s face to restore blood circulation, making the graft a success.

The New York Times reported that “three partial face transplants have been performed since 2005, two in France and one in China, all using facial tissue from a dead donor with permission from their families.” “Only the forehead, upper eyelids, lower lip, lower teeth and jaw are hers, the rest of her face comes from a cadaver; she could not eat on her own or breathe without a hole in her windpipe. About 77 square inches of tissue were transplanted from the donor,” it further described the details of the medical marvel. The patient, however, must take lifetime immunosuppressive drugs, also called antirejection drugs, which do not guarantee success. The transplant team said that in case of failure, it would replace the part with a skin graft taken from her own body.

Dr. Bohdan Pomahac, a Brigham and Women’s Hospital surgeon praised the recent medical development. “There are patients who can benefit tremendously from this. It’s great that it happened,” he said.

Leading bioethicist Arthur Caplan of the University of Pennsylvania withheld judgment on the Cleveland transplant amid grave concerns on the post-operation results. “The biggest ethical problem is dealing with failure — if your face rejects. It would be a living hell. If your face is falling off and you can’t eat and you can’t breathe and you’re suffering in a terrible manner that can’t be reversed, you need to put on the table assistance in dying. There are patients who can benefit tremendously from this. It’s great that it happened,” he said.

Dr Alex Clarke, of the Royal Free Hospital had praised the Clinic for its contribution to medicine. “It is a real step forward for people who have severe disfigurement and this operation has been done by a team who have really prepared and worked towards this for a number of years. These transplants have proven that the technical difficulties can be overcome and psychologically the patients are doing well. They have all have reacted positively and have begun to do things they were not able to before. All the things people thought were barriers to this kind of operations have been overcome,” she said.

The first partial face transplant surgery on a living human was performed on Isabelle Dinoire on November 27 2005, when she was 38, by Professor Bernard Devauchelle, assisted by Professor Jean-Michel Dubernard in Amiens, France. Her Labrador dog mauled her in May 2005. A triangle of face tissue including the nose and mouth was taken from a brain-dead female donor and grafted onto the patient. Scientists elsewhere have performed scalp and ear transplants. However, the claim is the first for a mouth and nose transplant. Experts say the mouth and nose are the most difficult parts of the face to transplant.

In 2004, the same Cleveland Clinic, became the first institution to approve this surgery and test it on cadavers. In October 2006, surgeon Peter Butler at London‘s Royal Free Hospital in the UK was given permission by the NHS ethics board to carry out a full face transplant. His team will select four adult patients (children cannot be selected due to concerns over consent), with operations being carried out at six month intervals. In March 2008, the treatment of 30-year-old neurofibromatosis victim Pascal Coler of France ended after having received what his doctors call the worlds first successful full face transplant.

Ethical concerns, psychological impact, problems relating to immunosuppression and consequences of technical failure have prevented teams from performing face transplant operations in the past, even though it has been technically possible to carry out such procedures for years.

Mr Iain Hutchison, of Barts and the London Hospital, warned of several problems with face transplants, such as blood vessels in the donated tissue clotting and immunosuppressants failing or increasing the patient’s risk of cancer. He also pointed out ethical issues with the fact that the procedure requires a “beating heart donor”. The transplant is carried out while the donor is brain dead, but still alive by use of a ventilator.

According to Stephen Wigmore, chair of British Transplantation Society’s ethics committee, it is unknown to what extent facial expressions will function in the long term. He said that it is not certain whether a patient could be left worse off in the case of a face transplant failing.

Mr Michael Earley, a member of the Royal College of Surgeon‘s facial transplantation working party, commented that if successful, the transplant would be “a major breakthrough in facial reconstruction” and “a major step forward for the facially disfigured.”

In Wednesday’s conference, Siemionow said “we know that there are so many patients there in their homes where they are hiding from society because they are afraid to walk to the grocery stores, they are afraid to go the the street.” “Our patient was called names and was humiliated. We very much hope that for this very special group of patients there is a hope that someday they will be able to go comfortably from their houses and enjoy the things we take for granted,” she added.

In response to the medical breakthrough, a British medical group led by Royal Free Hospital’s lead surgeon Dr Peter Butler, said they will finish the world’s first full face transplant within a year. “We hope to make an announcement about a full-face operation in the next 12 months. This latest operation shows how facial transplantation can help a particular group of the most severely facially injured people. These are people who would otherwise live a terrible twilight life, shut away from public gaze,” he said.

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Cleveland, Ohio clinic performs US’s first face transplant

Thursday, December 18, 2008

A team of eight transplant surgeons in Cleveland Clinic in Ohio, USA, led by reconstructive surgeon Dr. Maria Siemionow, age 58, have successfully performed the first almost total face transplant in the US, and the fourth globally, on a woman so horribly disfigured due to trauma, that cost her an eye. Two weeks ago Dr. Siemionow, in a 23-hour marathon surgery, replaced 80 percent of her face, by transplanting or grafting bone, nerve, blood vessels, muscles and skin harvested from a female donor’s cadaver.

The Clinic surgeons, in Wednesday’s news conference, described the details of the transplant but upon request, the team did not publish her name, age and cause of injury nor the donor’s identity. The patient’s family desired the reason for her transplant to remain confidential. The Los Angeles Times reported that the patient “had no upper jaw, nose, cheeks or lower eyelids and was unable to eat, talk, smile, smell or breathe on her own.” The clinic’s dermatology and plastic surgery chair, Francis Papay, described the nine hours phase of the procedure: “We transferred the skin, all the facial muscles in the upper face and mid-face, the upper lip, all of the nose, most of the sinuses around the nose, the upper jaw including the teeth, the facial nerve.” Thereafter, another team spent three hours sewing the woman’s blood vessels to that of the donor’s face to restore blood circulation, making the graft a success.

The New York Times reported that “three partial face transplants have been performed since 2005, two in France and one in China, all using facial tissue from a dead donor with permission from their families.” “Only the forehead, upper eyelids, lower lip, lower teeth and jaw are hers, the rest of her face comes from a cadaver; she could not eat on her own or breathe without a hole in her windpipe. About 77 square inches of tissue were transplanted from the donor,” it further described the details of the medical marvel. The patient, however, must take lifetime immunosuppressive drugs, also called antirejection drugs, which do not guarantee success. The transplant team said that in case of failure, it would replace the part with a skin graft taken from her own body.

Dr. Bohdan Pomahac, a Brigham and Women’s Hospital surgeon praised the recent medical development. “There are patients who can benefit tremendously from this. It’s great that it happened,” he said.

Leading bioethicist Arthur Caplan of the University of Pennsylvania withheld judgment on the Cleveland transplant amid grave concerns on the post-operation results. “The biggest ethical problem is dealing with failure — if your face rejects. It would be a living hell. If your face is falling off and you can’t eat and you can’t breathe and you’re suffering in a terrible manner that can’t be reversed, you need to put on the table assistance in dying. There are patients who can benefit tremendously from this. It’s great that it happened,” he said.

Dr Alex Clarke, of the Royal Free Hospital had praised the Clinic for its contribution to medicine. “It is a real step forward for people who have severe disfigurement and this operation has been done by a team who have really prepared and worked towards this for a number of years. These transplants have proven that the technical difficulties can be overcome and psychologically the patients are doing well. They have all have reacted positively and have begun to do things they were not able to before. All the things people thought were barriers to this kind of operations have been overcome,” she said.

The first partial face transplant surgery on a living human was performed on Isabelle Dinoire on November 27 2005, when she was 38, by Professor Bernard Devauchelle, assisted by Professor Jean-Michel Dubernard in Amiens, France. Her Labrador dog mauled her in May 2005. A triangle of face tissue including the nose and mouth was taken from a brain-dead female donor and grafted onto the patient. Scientists elsewhere have performed scalp and ear transplants. However, the claim is the first for a mouth and nose transplant. Experts say the mouth and nose are the most difficult parts of the face to transplant.

In 2004, the same Cleveland Clinic, became the first institution to approve this surgery and test it on cadavers. In October 2006, surgeon Peter Butler at London‘s Royal Free Hospital in the UK was given permission by the NHS ethics board to carry out a full face transplant. His team will select four adult patients (children cannot be selected due to concerns over consent), with operations being carried out at six month intervals. In March 2008, the treatment of 30-year-old neurofibromatosis victim Pascal Coler of France ended after having received what his doctors call the worlds first successful full face transplant.

Ethical concerns, psychological impact, problems relating to immunosuppression and consequences of technical failure have prevented teams from performing face transplant operations in the past, even though it has been technically possible to carry out such procedures for years.

Mr Iain Hutchison, of Barts and the London Hospital, warned of several problems with face transplants, such as blood vessels in the donated tissue clotting and immunosuppressants failing or increasing the patient’s risk of cancer. He also pointed out ethical issues with the fact that the procedure requires a “beating heart donor”. The transplant is carried out while the donor is brain dead, but still alive by use of a ventilator.

According to Stephen Wigmore, chair of British Transplantation Society’s ethics committee, it is unknown to what extent facial expressions will function in the long term. He said that it is not certain whether a patient could be left worse off in the case of a face transplant failing.

Mr Michael Earley, a member of the Royal College of Surgeon‘s facial transplantation working party, commented that if successful, the transplant would be “a major breakthrough in facial reconstruction” and “a major step forward for the facially disfigured.”

In Wednesday’s conference, Siemionow said “we know that there are so many patients there in their homes where they are hiding from society because they are afraid to walk to the grocery stores, they are afraid to go the the street.” “Our patient was called names and was humiliated. We very much hope that for this very special group of patients there is a hope that someday they will be able to go comfortably from their houses and enjoy the things we take for granted,” she added.

In response to the medical breakthrough, a British medical group led by Royal Free Hospital’s lead surgeon Dr Peter Butler, said they will finish the world’s first full face transplant within a year. “We hope to make an announcement about a full-face operation in the next 12 months. This latest operation shows how facial transplantation can help a particular group of the most severely facially injured people. These are people who would otherwise live a terrible twilight life, shut away from public gaze,” he said.

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Football Trophy Cabinets.

Football Trophy Cabinets.

by

Mark Harrison

Football comes in a few different forms, a fact that many people tend to forget. The most popular form is soccer but there is also rugby league and rugby union which are both forms of football. No matter the variation, football always remains a team game with, at the highest and the lowest levels, winning are what it s all about.

Any Football team should start of the season with the genuine intention of winning as many games as they can, and ending the season with a few competitions won, be they in the league or in knockout competitions, usually domestic but sometimes even going as far as Europe.

[youtube]http://www.youtube.com/watch?v=wguFY0DDoAU[/youtube]

Winning these competitions means being awarded a trophy that the team gets to keep for the entire length of the next season, as well as a duplicate that is theirs to be admired forever. Eventually the most successful teams will put up a handsome collection of trophies which they will want to provide a pride of place display. Displaying trophies have a double-edged effect- they had considerable prestige to the club and its history as well as slightly intimidating their opponents can get quite intimidated when they come to visit their trophy room.

While football is a team sport, the players that are part of a trophy winning team are usually presented with a duplicate trophy as well as a medal to recognise their efforts.

Football careers usually don t last too long, yet the memories should live on forever. That s the reason why investing in a handsome and well made football trophy cabinet should be a must for any successful player. The trophies and medals contained in their trophy cabinet (and sometimes cabinets) are something that they were going to take pride in all their lives, will act as a stimulus for other aspiring sports people, not necessarily only football players, to give their best to succeed in the sport of their choice.

Fir more information about football

trophy cabinets

and trophy cabinets for all sports, then visit Heron Cabinets. http://www.heroncabinets.com/, for more details. Trophy cabinets from Heron Cabinets will be designed and built to your specification, ranging from sizes, woods, and other needs you have.

Article Source:

Football Trophy Cabinets.

NRA official suggests arming teachers to prevent school shootings

Friday, March 25, 2005A lawyer who is expected to become the president of the National Rifle Association (NRA) said in a comment to Associated Press (AP) that arming teachers with firearms is a solution to be considered in preventing school shootings by students. Sarah S. Froman, an alumni of Harvard Law School and a practicing lawyer, implied that allowing teachers to carry weapons is one of the many options that should be examined.

Guns and other weapons are commonly banned on school campuses in the United States, but the high-profile incidents of students defying the bans and bringing firearms to classes could place the school at a disadvantage if the student were to fire the weapon. In the case of the recent student shooting at a Native American reservation in Minnessota the school had metal detectors and had an on-duty security guard. The guard was unarmed, however, and was gunned down by the student.

Froman told the AP that if it is the responsibility of teachers to protect students from harm, then the society must find a way to let teachers do that. She also said that gun control laws or bans cannot prevent a malicious individual from acting out, and provided an example of a 1997 shooting incident where an armed teacher was able to help police apprehend the student.

Froman is currently the NRA’s first vice president, and is expected to be elected to the post of president in the organization’s elections next month. The current president of the 4-million member organization is actor and activist Charlton Heston.

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Triple limb-reattachment fails – boy loses foot

Tuesday, April 5, 2005Terry Vo, the 10-year old Australian boy who had two hands and a foot reattached by surgeons after losing them in an accident, has had to have the foot re-amputated. He will be given a prosthetic foot in its place.

The operation to re-attach three limbs was thought to have been a first – but was ultimately unsuccessful, with the foot having died inside, and receiving insufficient blood supply following the surgery to reattach it.

“That would lead to the small muscles in the foot actually constricting, the toes bending over and a deformed …. foot that is sort of clawed over and doesn’t have good sensation,” said plastic surgeon, Mr Robert Love today, on Australia’s ABC Radio.

“Even if you can get all of that to survive, he [would be] worse off than having had an amputation.”

“What is very disappointing is that for the first two days after [the operation] the foot looked absolutely magnificent,” he said.

Terry’s hands were healing well, said the surgeon. The prosthetic foot would allow him to walk normally, since his knee was intact.

Retrieved from “https://en.wikinews.org/w/index.php?title=Triple_limb-reattachment_fails_-_boy_loses_foot&oldid=440128”

Cleveland, Ohio clinic performs US’s first face transplant

Thursday, December 18, 2008

A team of eight transplant surgeons in Cleveland Clinic in Ohio, USA, led by reconstructive surgeon Dr. Maria Siemionow, age 58, have successfully performed the first almost total face transplant in the US, and the fourth globally, on a woman so horribly disfigured due to trauma, that cost her an eye. Two weeks ago Dr. Siemionow, in a 23-hour marathon surgery, replaced 80 percent of her face, by transplanting or grafting bone, nerve, blood vessels, muscles and skin harvested from a female donor’s cadaver.

The Clinic surgeons, in Wednesday’s news conference, described the details of the transplant but upon request, the team did not publish her name, age and cause of injury nor the donor’s identity. The patient’s family desired the reason for her transplant to remain confidential. The Los Angeles Times reported that the patient “had no upper jaw, nose, cheeks or lower eyelids and was unable to eat, talk, smile, smell or breathe on her own.” The clinic’s dermatology and plastic surgery chair, Francis Papay, described the nine hours phase of the procedure: “We transferred the skin, all the facial muscles in the upper face and mid-face, the upper lip, all of the nose, most of the sinuses around the nose, the upper jaw including the teeth, the facial nerve.” Thereafter, another team spent three hours sewing the woman’s blood vessels to that of the donor’s face to restore blood circulation, making the graft a success.

The New York Times reported that “three partial face transplants have been performed since 2005, two in France and one in China, all using facial tissue from a dead donor with permission from their families.” “Only the forehead, upper eyelids, lower lip, lower teeth and jaw are hers, the rest of her face comes from a cadaver; she could not eat on her own or breathe without a hole in her windpipe. About 77 square inches of tissue were transplanted from the donor,” it further described the details of the medical marvel. The patient, however, must take lifetime immunosuppressive drugs, also called antirejection drugs, which do not guarantee success. The transplant team said that in case of failure, it would replace the part with a skin graft taken from her own body.

Dr. Bohdan Pomahac, a Brigham and Women’s Hospital surgeon praised the recent medical development. “There are patients who can benefit tremendously from this. It’s great that it happened,” he said.

Leading bioethicist Arthur Caplan of the University of Pennsylvania withheld judgment on the Cleveland transplant amid grave concerns on the post-operation results. “The biggest ethical problem is dealing with failure — if your face rejects. It would be a living hell. If your face is falling off and you can’t eat and you can’t breathe and you’re suffering in a terrible manner that can’t be reversed, you need to put on the table assistance in dying. There are patients who can benefit tremendously from this. It’s great that it happened,” he said.

Dr Alex Clarke, of the Royal Free Hospital had praised the Clinic for its contribution to medicine. “It is a real step forward for people who have severe disfigurement and this operation has been done by a team who have really prepared and worked towards this for a number of years. These transplants have proven that the technical difficulties can be overcome and psychologically the patients are doing well. They have all have reacted positively and have begun to do things they were not able to before. All the things people thought were barriers to this kind of operations have been overcome,” she said.

The first partial face transplant surgery on a living human was performed on Isabelle Dinoire on November 27 2005, when she was 38, by Professor Bernard Devauchelle, assisted by Professor Jean-Michel Dubernard in Amiens, France. Her Labrador dog mauled her in May 2005. A triangle of face tissue including the nose and mouth was taken from a brain-dead female donor and grafted onto the patient. Scientists elsewhere have performed scalp and ear transplants. However, the claim is the first for a mouth and nose transplant. Experts say the mouth and nose are the most difficult parts of the face to transplant.

In 2004, the same Cleveland Clinic, became the first institution to approve this surgery and test it on cadavers. In October 2006, surgeon Peter Butler at London‘s Royal Free Hospital in the UK was given permission by the NHS ethics board to carry out a full face transplant. His team will select four adult patients (children cannot be selected due to concerns over consent), with operations being carried out at six month intervals. In March 2008, the treatment of 30-year-old neurofibromatosis victim Pascal Coler of France ended after having received what his doctors call the worlds first successful full face transplant.

Ethical concerns, psychological impact, problems relating to immunosuppression and consequences of technical failure have prevented teams from performing face transplant operations in the past, even though it has been technically possible to carry out such procedures for years.

Mr Iain Hutchison, of Barts and the London Hospital, warned of several problems with face transplants, such as blood vessels in the donated tissue clotting and immunosuppressants failing or increasing the patient’s risk of cancer. He also pointed out ethical issues with the fact that the procedure requires a “beating heart donor”. The transplant is carried out while the donor is brain dead, but still alive by use of a ventilator.

According to Stephen Wigmore, chair of British Transplantation Society’s ethics committee, it is unknown to what extent facial expressions will function in the long term. He said that it is not certain whether a patient could be left worse off in the case of a face transplant failing.

Mr Michael Earley, a member of the Royal College of Surgeon‘s facial transplantation working party, commented that if successful, the transplant would be “a major breakthrough in facial reconstruction” and “a major step forward for the facially disfigured.”

In Wednesday’s conference, Siemionow said “we know that there are so many patients there in their homes where they are hiding from society because they are afraid to walk to the grocery stores, they are afraid to go the the street.” “Our patient was called names and was humiliated. We very much hope that for this very special group of patients there is a hope that someday they will be able to go comfortably from their houses and enjoy the things we take for granted,” she added.

In response to the medical breakthrough, a British medical group led by Royal Free Hospital’s lead surgeon Dr Peter Butler, said they will finish the world’s first full face transplant within a year. “We hope to make an announcement about a full-face operation in the next 12 months. This latest operation shows how facial transplantation can help a particular group of the most severely facially injured people. These are people who would otherwise live a terrible twilight life, shut away from public gaze,” he said.

Retrieved from “https://en.wikinews.org/w/index.php?title=Cleveland,_Ohio_clinic_performs_US%27s_first_face_transplant&oldid=4627150”

Why The Role Of Human Resources Management Professionals Is So Important?

Click Here To Find Out More About:

Submitted by: George Freeman1

Human resource professionals have a big role in helping organisations achieve their objectives. Competent HR managers know how to incorporate proven management systems and processes into the managing of affairs and to improve things. Skilled professionals provide organisations with a big competitive advantage.

The role of human resources management professionals is to recruit, train and develop personnel according to the unique requirements of the organisation. They also offer programmes designed to promote professional career growth, enabling people as well as organisations to achieve their objectives. They help organisations achieve their short-term and long-term career goals and support succession planning for various positions within an organisation by implementing leadership development programmes.

HR professionals can perform varied functions to achieve staffing objectives of a business organisation. Their role also involves the strategic management of an organisation s human resource, promoting a positive work environment for more output by people without letting them feel overworked. Competent HR professionals serve as a bridge between senior management and the work force.

[youtube]http://www.youtube.com/watch?v=Eu97C5w4WJI[/youtube]

It is the job of HR to ensure that new recruits get the tools and information required to be successful. They provide them with training that includes presentations on company history and its strategic objectives and policies, organisational structure and work procedures. They guide on completing operational tasks such as sending email, submitting status reports, attending meetings, etc. With the right training, new employees take the least time in beginning productive work for the organisation.

Skilled HR professionals provide organisations with a big competitive advantage. They know how to incorporate proven management systems and processes into the managing of affairs and improvements. They can integrate the activities from different functional areas of a business for achieving long-term organisational objectives.

A useful HR policy is to use a scorecard for evaluating the performance of the business and its progress towards achieving the objectives. For realising goals a company needs strategic planning and HR has a major role in the implementation of any programme devised by the management. They help managers deal with various issues confronting them.

The various activities of human resource management staff include planning, selection, recruitment, orientation, training, workers compensation, appraisal, discipline, termination, etc. They also have to use their human management skills to counsel troubled employees.

HR professionals help employees identify performance gaps and design programmes to mitigate the problems. They arrange training sessions for them so that their knowledge and skill levels always remain updated. They devise long term training schedules in consultation with middle level and senior management of the organisation.

A business organisation needs to deploy a plan of action to utilise the human resources available in the best possible manner. HR professionals are trained to assist management devise such programmes. Good HR managers can provide the required leadership in making the department a strategic partner. They can select the right person for the right job and use a mix of incentives to engage employees to give in their best.

HR is a major discipline of business management study and a large chunk of people opt for it. It is a challenging career and to make your mark on the organisation, you need to ensure that you get training from a reputable organisation. Whether you choose a regular or a distance learning MBA course, it must be in sync with the industry requirements.

About the Author: The author recommends the University of Leicester School of Management, which offers campus based as well as distance learning MBA programs.Website:

www2.le.ac.uk/

Source:

isnare.com

Permanent Link:

isnare.com/?aid=1789057&ca=Business+Management

U.S. Congress reaches deal on payroll tax cut extension

Friday, December 23, 2011

Speaker of the U.S. House John Boehner announced yesterday that he would agree to a two-month extension of the payroll tax cut. In an effort to end the impasse between the House and Senate, Boehner told Senate Democratic leader Harry Reid that he would schedule a House vote on the Senate version of the bill that would extend the tax cut, which was due to expire at the end of the year.

Speaker Boehner announced the agreement in a brief statement: “Senator Reid and I have reached an agreement that will ensure taxes do not increase for working families on January 1”. Boehner informed other congressmen of the deal in a conference call yesterday evening.

The House may pass the bill via unanimous consent today, which would not require the presence of all members. Boehner and Reid also agreed to a bipartisan negotiation committee to sort out differences and extend the tax cut for an entire year, a goal recently sought by Republicans in the House.

The extension of the payroll tax cut, which would prevent approximately 160 million Americans from seeing a tax increase in 2012, had already been passed by the Senate last weekend. Earlier yesterday, Senate Republican leader Mitch McConnell joined several other Republican Senators in encouraging the House to pass the extension.

Senate Democratic leader Harry Reid said that once the House acts, he “will be happy to restart the negotiating process to forge a yearlong extension.” At a news conference, Speaker Boehner issued a statement: “We have fought the good fight. Why not do the right thing for the American people even though it’s not exactly what we want.” President Obama also responded to the development in a statement: “This is good news, just in time for the holidays. This is the right thing to do to strengthen our families, grow our economy, and create new jobs. This is real money that will make a real difference in people’s lives.”

The tax cut extension impasse began when the House effectively rejected the Senate-approved version of the bill on Tuesday after being faced with opposition from House Republicans, specifically those associated with the Tea Party movement, who advocated for spending cuts and the controversial Keystone XL oil pipeline.

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Kordia’s annual report shows increase in profit

Friday, October 12, 2007

New Zealand state-owned enterprise (SOE), Kordia published its annual report a few days ago for the financial year ending June 30, 2007.

Formerly known as Broadcast Communications Ltd (BCL) prior to the name change in November 2006, the Crown-owned company offers contracting, consulting, and networking services. They operate a national communication network and provides network feeds and broadcast services for the major television and radio networks in New Zealand.

The annual report shows Kordia Group Limited’s net profit, after tax, at NZ$11.9 million, the 2006 result was $9.8 million. Revenue was up from $201 million in the 2006 financial year to $264 million this year; a 31% increase. Chairman of Kordia, Wayne Brown, described this financial year as “solid achievement” while being “on track to record further growth in the exciting fields in which it operates.”

These increases is despite the major acquisition of Orcon Internet Limited, an ISP (Internet service provider). Kordia will use Orcon, acquired on 2 July, 2007, to invest and deliver the possibilities of the current progress of local loop unbundling, new Wi-Fi zones, and WiMAX technology. CEO of Kordia, Geoff Hunt, said, “Orcon will soon offer a complete range of Voice over IP products”. Orcon is being operated at arms-length to the rest of the company.

Other areas where Kordia is advancing itself is mobile television transmission where they are already prepared to start services once content providers have been secured. Hunt said, “Spectrum is available, so all we need are the content providers and some good consumer demand. Then we’ll be ready to roll.”

Kordia is also immersing itself further in the television sector as well as its mobile television service. Other advances includes New Zealand’s new digital television service, Freeview with it set to start terrestrial transmission next year.

Parliament TV also began this year in July. All House proceedings are available via the Parliament website and a broadcast quality feed is provided to all broadcasters, with full coverage being televised by Freeview and Sky Network Television. The manager of Kordia’s Transmission Control Centre, Merv Brooks, said, “This is another example of people and technology coming together to deliver a truly unique product to New Zealanders.”

Being a SOE, Kordia is required to give the Government a dividend. The Government will receive a total dividend of $8.4 million; $6.8 million in 2006. A $3 million dividend had already been received by the Government so a payment of only $5.4 million was made.

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Interest Only Loan

By Jacob Malherbe

Interest Only Mortgages is a risky product and does have its disadvantages it a tricky form of mortgage because it can be misleading as the payment is very small for the first 1,2,5,7 or even 10 years. The Interest Only Mortgage will have a balloon payment for the entire principal balance at the end of the loan term. Interest only mortgages might be beneficial for people in markets where houses appreciate rapidly and the plan is to remain in the house for only a couple of years.

Interest only mortgages are available in both fixed rate and adjustable rate varieties, but most interest only mortgages are of the adjustable rate variety. Since only an interest payment is due, interest only mortgages usually have a lower monthly mortgage payment than mortgages that require principal and interest payments.

[youtube]http://www.youtube.com/watch?v=7fIix2wFips[/youtube]

For example, if you have taken an interest only mortgage loan for 5 years you only pay the interest on your mortgage for 5 years. The interest only mortgage rate is an adjustable rate determined by the current interest rate. This preset margin will stay fixed throughout the remaining term of the loan while the interest only mortgage rate added to it will change (generally on an annual basis) with the fluctuation of the current index rate. So after the interest only mortgage payment period is over you will be paying the adjusted interest only mortgage rate and the principal, which will increase your interest only mortgage payments.

Interest only mortgages usually have an interest only payment option during the first 1, 3, 5, 7, or 10 years of the mortgage. Interest only mortgage payment does not mean negative amortization on your loan it does mean however that the Interest only mortgage payment are only for a short term. Interest-only loans are the latest tool aimed at offsetting high home prices and it does represent a somewhat higher risk for lenders, and therefore are subject to a slightly higher interest rate. It is however a popular ways of borrowing money to buy an asset that is unlikely to depreciate much and which can be sold at the end of the loan to repay the capital. It helped homeowners afford more home and earn more appreciation during this time period. Interest-only loans may turn out to be bad financial decisions if housing prices drop, causing those borrowers to carry a mortgage larger than the value of the house, which in turn will make it impossible to refinance the house into a fixed-rate mortgage.

It is important to keep in mind the nature of interest only mortgages. Although interest only mortgages play a vital part in the mortgage industry, often providing the only means for first time buyers to hold the key to their own front door, misusing this type of loan is counter-productive. A sample of the 3 payment options on a loan amount of $250,000 would be: Minimum Amount Due $804, Interest Only Mortgage $989, 30 year payment $1304, 15 year payment.

In summary, an Interest Only Mortgage Loan can save you thousands of dollars and possibly earn you thousands more with the right diversified investments over time. An interest only mortgage loan gives people the tools necessary to manage their debts as carefully as they manage their assets. 30 year interest only mortgages typically come with a ten year (often referred to as a 30/10year interest only loan) or fifteen year fixed (30/15) interest only period. Best for people who: Are very focused on money management Want to reduce their monthly mortgage payment and do not intend to be in their homes more than a few years Interest only mortgages and loans as the name suggests, means you pay interest only for the first three, five, seven, ten years of the loan, thereby lowering your monthly mortgage payment by quite a lot. But it is important to also look at the other side of the interest only mortgage if the base interest start to rise your payments can start to rise with it. So have a close look at the relationship between the interest rate and your mortgage payment today before you jump into an interest only loan.

About the Author: Jim Power is a writer for the mortgage website

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