Business News

20080518
• WATCH - John McCain - Iraq - Military - Disaster - Hurricane Katrina - New Orleans - Louisiana - US - Economy - Politics - Author -  - Media - 2008 Election - "McCain's YouTube Problem Just Became a Nightmare." [2008 Election Republican Presidential Candidate John McCain]
[John McCain]

[YouTube Video] "According to Cliff Schecter, author of The Real McCain: Why Conservatives Don't Trust Him And Why Independents Shouldn't: "It is dangerous for a democracy when a presidential candidate can lie with impunity, change positions on a whim, and physically and verbally threaten others and virtually none of it is reported by a besotted media eagerly awaiting the next moment when he might slap their backs in friendship." -TheRealMcCain.com -BraveNewFilms.org 

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20080517
• John McCain - Thomas Loeffler - Foreign - Politics - Saudi Arabia - French - Aerospace - Military - Manufacturing - Texas - US - 2008 Election - "Mccain vs. Lobbyists." ... "Stung by the news that two aides once lobbied for the Burmese junta, [2008 Election Republican Presidential Candidate] John McCain last week rolled out a sweeping new conflict-of-interest policy for his campaign, requiring all staffers to fill out questionnaires identifying past or current clients that "could be embarrassing for the senator."" ... "One top campaign official affected by the new policy is national finance co-chair Tom Loeffler, a former Texas congressman whose lobbying firm has collected nearly $15 million from Saudi Arabia since 2002 and millions more from other foreign and corporate interests, including a French aerospace firm [EADS] seeking Pentagon contracts. Loeffler last month told a reporter "at no time have I discussed my clients with John McCain." But lobbying disclosure records reviewed by NEWSWEEK show that on May 17, 2006, Loeffler listed meeting McCain along with the Saudi ambassador to "discuss US-Kingdom of Saudi Arabia relations."" ... "Another potential problem: Loeffler's firm started paying $15,000 a month last summer to one of its lobbyists, Susan Nelson, after she left to become McCain's full-time finance director, said a source familiar with the arrangement (who asked not to be identified talking about sensitive matters)." -By Michael Isikoff -Newsweek 

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20080516
• John McCain - Money - Politics - Real Estate - Arizona - Law - Federal - Military - Land - 2008 Election - "McCain Hit Again on Arizona Land Deals." ... "[2008 Election Republican Presidential Candidate and Arizona] Sen. John McCain's ties to the real estate development arm of his home state's power company continued to prove nettlesome today, as a newspaper reported that McCain secured millions in federal funds for a land acquisition program that benefited the firm." ... "Earlier this month, The Washington Post reported that McCain had championed a deal to trade valuable federal land in northern Arizona to a rancher who then enlisted Tempe[Arizona]-based SunCor Development to build as many as 12,000 homes on the property." ... "SunCor's president, Steve Betts, is a longtime McCain supporter who has raised more than $100,000 for the senator's presidential bid." ... "Today's report, in USA Today, revealed that McCain inserted $14.3 million into a 2003 defense bill to buy land around Luke Air Force Base [Arizona]. SunCor sought the provision as the largest of about 50 landowners near the base. SunCor representatives, upset with a state law that restricted development around Luke, met with McCain's staff to lobby for funding, John Ogden, SunCor's president at the time, told the paper." ... "The Air Force later paid SunCor $3 million for 122 acres near the base, according to the report. It was the highest single land transaction of the private lots purchased by the government -- three times the county's assessed value and twice the military's estimated value." -By Matthew Mosk -WashingtonPost

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• John McCain - Charlie Black - Money - Philippines - Myanmar - Military - Arizona - US- 2008 Election - "McCain Vets Staff for Lobbying Ties." ... "[2008 Election Republican Presidential Candidate and Arizona Senator] Sen. John McCain’s presidential campaign is vetting its own staff members’ lobbyist connections—scurrilous or otherwise—after two aides recently left the campaign when questions arose over their prior lobbying work for Myanmar’s military junta." ... "A Democratic outside group, MoveOn.org, is targeting another McCain campaign senior aide in a new Web ad asking their supporters to call for the ousting of longtime Washington insider Charlie Black, who until recently was a lobbyist for BKSH Worldwide." ... "The ad charges that Black’s firm “made millions lobbying for the world’s worst tyrants,” including Ferdinand Marcos of the Philippines and Mobuto Sese Seko of Zaire. “Charlie Black said he didn’t do anything wrong,” the ad states. “John McCain should tell Black he did.” " -By Susan Davis -WSJ.com 

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  WATCH MoveOn Charlie Black ad, "McCain: Fire Charlie Black." Ad Text: "John McCain says we're fighting in Iraq to plant "the seeds of democracy but the firm of his "chief political adviser" Charlie Black made millions lobbying for the world's worst tyrants: Ferdinand Marcos, who executed thousands of his own citizens in the Philippines, Zaire's Mobuto, who publicly hanged his opponents and looted his country's vast mineral wealth, and rebel leader Jonas Savimbi, a mass murderer, who covered Angola with landmines. Charlie Black said he didn't do anything wrong. John McCain should tell Black he did. Call John McCain and tell him to fire Charlie Black."-Documentation -MoveOn.org

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• Barack Obama - Communications -  - Radio - Media - Market - Government - Politics - 2008 Election - "Obama, Bush at Odds Over Media-Ownership Vote: Democratic Presidential Candidate Urges House of Representatives to Follow Senate's Lead, Scrap FCC's Media-Ownership-Rule Change." ... "The fight over the Federal Communications Commission's [December] Dec. 18 media-ownership vote set up a potential battle between the current president [Republican Bush] and a senator who wants to be the next one." ... "[2008 Election Democratic Presidential Candidate and Illinois Senator] Sen. Barack Obama (D-Ill.[Democratic-Illinois]) Thursday urged the House to follow the Senate's lead and pass a resolution of disapproval, an unusual legislative maneuver that would invalidate the FCC's decision to allow TV and radio stations and newspapers to be co-owned in the top 20 markets, subject to some conditions." ... "After the Senate approved the measure, Obama, a co-sponsor of the bill, released a statement saying, "I urge my colleagues in the House of Representatives to expeditiously pass the legislation."" ... "He framed the vote, as he has before, as standing up to "Washington special interests," a campaign theme. "Our nation’s media market must reflect the diverse voices of our population, and it is essential that the FCC promotes the public interest and diversity in ownership," he said." -By John Eggerton -BroadcastingCable.com

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• John McCain - Money - Politics - Government - Myanmar - Military - Arizona - US- 2008 Election - "McCain axes energy advisor." ... "[2008 Election] Republican presidential contender John McCain on Thursday fired an energy policy advisor who lobbies the federal government on behalf of energy clients, citing a new policy that seeks to quash influence peddling." ... "''The campaign recently severed ties with Eric Burgeson due to a new campaign policy that prohibits any registered lobbyist from participating in any policy discussions on the subjects in which they work,'' said McCain spokesman Jeff Sadosky." ... "The policy was developed following the recent dismissals of two campaign aides whose lobbying firm represented the military junta that runs Myanmar, widely condemned for thwarting rescue efforts after a deadly cyclone." ... "McCain's former energy advisor joined the firm of Barbour Griffith & Rogers [lobbyist firm] in Washington in 2006 after serving as the chief of staff at the Department of Energy. Burgeson's energy clients include Southern Company, which operates electric utilities and nuclear-power plants in the Southeast." ... "''Eric leads the firm's energy practice utilizing his domestic and international energy policy expertise and network of policy decision makers,'' the firm's website states." -By Beth Reinhard -MiamiHerald

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• John McCain - Marketing - Law - Politics - History - 2004 Election - 2008 Election - "McCain adviser ousted in conflict uproar." ... "[2008 Election Republican Presidential Candidate] John McCain's campaign asked a prominent Republican consultant, Craig Shirley, to leave his official campaign role Thursday after a Politico inquiry about Shirley's dual role consulting for the campaign and for an independent "527" group opposing the Democratic presidential candidates." ... "Shirley, a conservative public relations veteran, doubled as a consultant to McCain and to the group Stop Her Now, a 527 group barred from coordinating its activities with presidential campaigns." ... "Shirley’s firm, Shirley & Bannister Associates, was paid more than $22,000 by McCain for work this February and March to win conservative support. Stop Her Now has paid the firm more than $155,000 since 2007 for public relations work." ... "He [Craig Shirley] was reportedly a member of the team that tarred [former Democratic Presidential Candidate] Michael Dukakis with the “Willie Horton” ads in 1988, and later he helped organize the first press conference with Paula Jones, who had sued [former Democratic President] Clinton for sexual harassment. In 2004, his company did public relations work for a mov[i]e attacking [former 2004 Election Democratic Presidential Candidate] John Kerry for undermining the treatment of Vietnam Veterans, “Stolen Honor.”" -By Ben Smith -Politico.com

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20080515
• John McCain - Money - Politics - Arizona - Real Estate - Law - Federal - Military - Land - 2008 Election - "Price of power: McCain action helped Arizona land developer." ... "[2008 Election Republican Presidential Candidate and Arizona Senator] Sen. John McCain secured millions in federal funds for a land acquisition program that provided a windfall for an Arizona developer whose executives were major campaign donors, public records show." ... "McCain, who has made fighting special-interest projects a centerpiece of his presidential campaign, inserted $14.3 million in a 2003 defense bill to buy land around Luke Air Force Base [Arizona] in a provision sought by SunCor Development, the largest of about 50 landowners near the base. SunCor representatives, upset with a state law that restricted development around Luke, met with McCain's staff to lobby for funding, according to John Ogden, SunCor's president at the time." ... "The Air Force later paid SunCor $3 million for 122 acres near the base. It was the highest single land transaction of the private lots purchased by the government — three times the county's assessed value and twice the military's estimated value. SunCor also donated another 122 acres. Alan Bunnell, a spokesman for SunCor's parent company, Pinnacle West Capital, said the donation was meant to minimize the company's tax bill and enhance the value of adjacent property it owns." ... "McCain has long-standing ties to SunCor and Pinnacle West:" ... "• McCain's campaigns have received $224,000 since 1998 from donors connected to Pinnacle West, including $104,100 for his current presidential run, according to a USA TODAY analysis of campaign-finance data compiled by the non-partisan CQ MoneyLine. Donors include employees of Pinnacle West and its subsidiaries, employees' spouses and the company's lobbyists and political committees." ... "• Pinnacle West's Chief Executive Officer Bill Post, vice president and lobbyist Robert Aiken and former president Jack Davis, who retired in March, are fundraisers for McCain's current presidential campaign. SunCor President Steve Betts, who joined the company weeks after the military land deal, is a former campaign lawyer for McCain and has raised more than $100,000 for his current campaign." -By Matt Kelley -USATODAY 

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20080514
• John McCain - Hillary Clinton - Barack Obama - US- Iraq - Afghanistan - Military - People - Money - Legislation - Politics - 2008 Election - Ariz - Ill - NY - "McCain, Military Oppose Expanding GI Bill." ... "[2008 Election Republican Presidential Candidate and Arizona Senator] Sen. John McCain, R-Ariz. [Republican-Arizona], the presumptive Republican presidential nominee, seemed to give a thumbs down to bipartisan legislation that would greatly expand educational benefits for members of the military returning from Iraq and Afghanistan under the GI Bill." ... "Both [2008 Election] Democratic presidential candidates — Sens. Barack Obama, D-Ill. [Democratic-Illinois], and Hillary Clinton, D-N.Y. [Democratic-New York], — have signed on as co-sponsors, and the bill has gained bipartisan support from 54 senators on Capitol Hill in addition to [Virginia Democratic Senator Jim] Webb. A vote on the proposal is expected before the summer." ... "But the bill, which would dramatically increase educational compensation for American troops, has run into some unexpected resistance, both at the Pentagon and now from McCain, who has remained silent on the issue, saying he had not studied the bill close enough." ... "Pressure had mounted on McCain to support the bill — a veterans group, which backs the legislation, delivered a petition to McCain's Senate office, signed by 30,000 veterans." ... "[Matt] Flavin joined the military out of patriotism shortly after 9/11, went to Officer Candidate School and, over the next five years, served tours in Bosnia, Afghanistan and with Naval special forces in Iraq." ... "While he did not join the military specifically to get benefits from the GI Bill and does not think most troops do, Flavin supports the legislation." ... ""We owe them something," Flavin said of his comrades. "They've given life, limb, everything there is to give. The people who bore the most pain and suffering are the people who could use these benefits."" (1, 2, 3) -By Z. Byron Wolf with contributions by Bret Hovell -ABCNEWS.com 

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• John McCain - Myanmar - Sudan - Oil - Corporation - Politics - Arizona - US - 2008 Election - "McCain On Wife's Sudan-Related Investment." ... "[2008 Election Republican Presidential Candidate John] McCain, whose wife has come under fire for refusing to disclose her tax return documents, fielded tough questions about her investment in a mutual fund that deals in Sudan, as well as about the resignation of two McCain aides over their involvement in lobbying deals with the Myanmar junta." ... "The Arizona senator said that he was not aware of his wife's investment in two mutual funds that include holdings in Oil & Natural Gas Corp. [Corporation], which in turn does business in the genocide-ridden African nation. " -By Carrie Dann -NationalJournal

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• John McCain - Secrecy - Sudan - People -  - International - US - 2008 Election - "McCain's wife urged to release tax returns." ... "[2008 Election] Republican presidential candidate John McCain came under criticism on Wednesday for his wife Cindy's refusal to release her tax returns." ... ""The candidate should get his wife to reconsider," The Washington Post wrote in an editorial on Wednesday. "The last thing the country needs in a new president is more secrecy."" ... "The McCain campaign also confirmed that Cindy McCain sold more than $2 million in mutual funds with investments in companies that do business in Sudan." ... "McCain has been a strong advocate for imposing international financial sanctions on Sudan because of the 5-year-old Darfur conflict, in which U.N. [United Nations] officials estimate as many as 300,000 people may have been killed." (1, 2) -By Steve Holland and Caren Bohan with contributions by Peter Cooney -Reuters 

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• John McCain - Politics - Editorials - 2008 Election - Arizona - "Disclosure Demands Build for Cindy McCain’s Tax Returns." ... "The pressure is mounting on Cindy McCain, the wealthy wife of the presumptive Republican nominee John McCain, to release her tax returns." ... "This week, the Washington Post, the Washington Times and the New York Observer published editorials calling for her to disclose her returns." ... "Democratic National Committee spokesman Damien LaVera faulted the Arizona senator. “How can John McCain expect the American people to trust him to lead our country if he is not even willing to apply the standards of openness and accountability he expects from everyone else to his own campaign?” he asked in a written statement." ... "Cindy McCain is, by far, the top breadwinner for the McCains. In 2006, Senate financial disclosure forms show she had an income of between $2 and $7 million. Her father’s company, which she now runs, reportedly is valued at $100 million." -By Elizabeth Holmes -WSJ.com 

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• John McCain - Sudan - China - India - Oil - Politics - International - US - 2008 Election - "McCain's wife sells Sudan investments." ... "The wife of [2008 Election] Republican presidential candidate John McCain, who has been a critic of the violence in Sudan, sold off more than $2 million in mutual funds whose holdings include companies that do business in the African nation." ... "The sale on Wednesday came after The Associated Press questioned Cindy McCain's investments in light of calls by her husband for international financial sanctions against the Sudanese leadership." ... "According to McCain's personal financial disclosure, Cindy McCain's investments include two mutual funds — American Funds Europacific Growth fund and American Funds Capital World Growth and Income fund — that are listed by the Sudan Divestment Task Force as targets for divestment." ... "Both funds have holdings in Oil & Natural Gas Corp. [Corporation], an India-based company that does business in Sudan. The American Funds Capital World Growth & Income Fund also has holdings in Petrochina, a Chinese government-owned oil company with vast investments in Sudan." -AP via -USATODAY 

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• Barack Obama - Government - Financial - Law - Illinois - New York - 2008 Election - "Obama to Receive Endorsement Of 3 Former SEC Chairmen." ... "Three former chairmen of the Securities and Exchange Commission will publicly endorse Democratic [2008 Election Presidential Candidate and Illinois Senator] Sen. Barack Obama's bid for the presidency Wednesday, including one who served under [Republican] President Bush." ... "William Donaldson, who was SEC [Securities and Exchange Commissio] chairman for about 2½ years from early 2003, along with [Democratic President Bill] Clinton and [Republican President Ronald] Reagan appointees Arthur Levitt and David Ruder, will join former Fed Chairman Paul Volcker in endorsing Sen. Obama, his campaign said. Mr. Volcker endorsed Sen. Obama in January." ... "In a statement released by the campaign, the four men said they believed Sen. Obama would take a "reasoned approach" to "balanced regulatory reform."" ... "The endorsements, especially that of Republican appointee Mr. Donaldson, could give a boost to Mr. Obama in the general election this fall." ... "Mr. Donaldson, a former Wall Street banker, also is a former head of the New York Stock Exchange. In government, Mr. Donaldson's tenure was marked by his push for greater regulation of hedge funds. The SEC eventually passed a hedge-fund-regulation package, in the face of vocal critics. A federal court later overturned the regulation." ... "In an interview Tuesday, Mr. Donaldson said he was struck by a speech Sen. Obama gave calling for a revamping of regulation for any business that borrows money from the government. Sen. Obama, he said, saw the "need to take a good hard look at how things are organized" and "just exactly what went wrong in terms of the regulatory oversight that we have."" -By Christopher Cooper and Kara Scannell -WSJ.com 

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• US - Military - Families - Iraq - Afghanistan - Israel - Consumer - Business - Terrorism - Politics - History - "Bush Says He's Not A Golfer In Wartime." ... "[Republican] President Bush said yesterday that he gave up golfing in 2003 "in solidarity" with the families of soldiers who were dying in Iraq, concluding that it was "just not worth it anymore" to play the sport in a time of war." ... "Democrats have criticized Bush for allegedly not requiring Americans to sacrifice enough while waging wars in Afghanistan and Iraq, and for urging people to keep shopping as a way to fight terrorism after the [September] Sept. 11, 2001, attacks. Bush was also widely criticized in August 2002 when he decried terrorist bombings in Israel while golfing and then told reporters: "Now watch this drive."" ... "... [Presidential historian Robert] Dallek, who is critical of the current president's legacy, said Bush's remarks about Iraq "speak to his shallowness." Dallek added: "That's his idea of sacrifice, to give up golf?"" -By Dan Eggen -WashingtonPost

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  WATCH: "Now watch this drive," video of Republican President Bush golfing immediately after explaining that "We must stop the terror. I call upon all nations to do everything they can to stop these terrorist killers, thank you. Now watch this drive."

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20080513
• Corporate - Environmental - Health - Politics - Investigation - Manufacturing - Water - Michigan - Illinois - Indiana - Minnesota - Ohio - Wisconsin - "U.S. Senators Probe Departure of EPA Midwest Administrator." ... "The circumstances surrounding the resignation of Mary Gade, formerly the U.S. [United States] EPA's [Environmental Protection Agency's]  regional administrator for the Midwest, are under investigation by an environmental committee of the U.S. Senate." ... "On May 2, the "Chicago Tribune" reported that two top aides to Johnson demanded that Gade resign or be fired by June 1, 2008. She has since submitted her resignation and is currently on administrative leave." ... "According to the Tribune's story, Gade believed her forced resignation was due to her efforts to push Dow Chemical Company to clean up dioxin contamination in Saginaw Bay and Lake Huron stemming from its Midland, Michigan chemical manufacturing plant. Dioxin is a known carcinogen." ... "The paper also reported that officials from Dow Chemical had met with EPA officials in Washington in January 2008 because they were unhappy with Gade's approach, and that Gade's handling of this issue became the subject of criticism from her superiors in Washington." ... "On January 4, 2008, Gade terminated negotiations with Dow Chemical aimed at a settlement to conduct a study and interim cleanup actions for dioxin contamination along the Tittabawassee River system, the Saginaw River and the Saginaw Bay. The negotiations under the Superfund Act began in October 2007 with the participation of the Michigan Department of Environmental Quality." ... ""I am extremely disappointed with this outcome," said Gade on January 4. "EPA approached negotiations with high hopes and realistic expectations. Our team put in many long hours of good faith efforts that came to an unfortunate end today. EPA is now reviewing its options for ensuring that dioxin contamination in the river system and the Midland area can be fully addressed."" ... "An environmental attorney, Gade was appointed regional administrator of EPA Region 5 in October 2006 to oversee federal environmental programs in Illinois, Indiana, Michigan, Minnesota, Ohio and Wisconsin." -ENS

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20080511
• John McCain - Rick Davis - Myanmar [Burma] - Military - Money - Politics - DCI Group - US - 2008 Election - "A Second McCain Aide Resigns." ... "Doug Davenport, the [2008 Election Republican Presidential Candidate John McCain's] regional campaign manager for the mid-Atlantic states, founded the DCI Group's lobbying practice and oversaw the contract with Myanmar [Burma] in 2002." ... ""Doug has tendered his resignation and we have accepted it," Jill Hazelbaker, McCain's communications director, wrote in a e-mail." ... "He joins former DCI Group CEO Doug Goodyear, who resigned yesterday from the post of convention CEO after Newsweek reported that DCI was paid more than $300,000 to represent Myanmar's ruling junta." ... "Goodyear and Davenport were recruited by McCain's campaign manager, Rick Davis, who has been accused by some current and former McCain advisers of take insufficient care of McCain's reformer brand by appointing lobbyists to key positions. Ironically, as Newsweek reported, Goodyear was asked to become convention CEO after Davis's lobbying firm partner, Paul Manafort, was nixed because of his own close ties to foreign governments and controversial companies." -Marc Ambinder -TheAtlantic.com

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20080510
• John McCain - Burma [Myanmar] - Military - Money - Politics - DCI Group - Marketing - Human Rights - Oil - Arizona - US - 2008 Election - Saint Paul - Minn - "McCain's Convention Chair Worked for Burma's Military Junta." ... "John McCain's choice to manage the GOP convention this summer is lobbyist Doug Goodyear, whose firm once represented Burma's repressive regime." ... "After [2008 Election Republican Presidential Candidate] John McCain nailed down the Republican nomination in March, his campaign began wrestling with a sensitive personnel issue: who would manage this summer's GOP convention in St. Paul, Minn. [Minnesota]? The campaign recently tapped Doug Goodyear for the job, a veteran operative and Arizonan who was chosen for his "management experience and expertise," according to McCain press secretary Jill Hazelbaker. But some allies worry that Goodyear's selection could fuel perceptions that McCain—who has portrayed himself as a crusader against special interests—is surrounded by lobbyists. Goodyear is CEO of DCI Group, a consulting firm that earned $3 million last year lobbying for ExxonMobil [oil corporation], General Motors and other clients." ... "Potentially more problematic: the firm was paid $348,000 in 2002 to represent Burma's military junta, which had been strongly condemned by the State Department for its human-rights record and remains in power today. Justice Department lobbying records show DCI pushed to "begin a dialogue of political reconciliation" with the regime. It also led a PR [public relations] campaign to burnish the junta's image, drafting releases praising Burma's efforts to curb the drug trade and denouncing "falsehoods" by the [Republican President] Bush administration that the regime engaged in rape and other abuses. " -By Michael Isikoff -Newsweek

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20080509
• Consumers - Food - Safety - Humans - Health - Law - Politics - Animals - Agriculture - Business - Kan - US - Japan - "Government asks court to block wider testing for mad cow." ... "The [Republican President] Bush administration on Friday urged a federal appeals court to stop meatpackers from testing all their animals for mad cow disease, but a skeptical judge questioned whether the government has that authority." ... "The government seeks to reverse a lower court ruling that allowed Arkansas City, Kan.[Kansas]-based Creekstone Farms Premium Beef to conduct more comprehensive testing to satisfy demand from overseas customers in Japan and elsewhere." ... "Less than 1 percent of slaughtered cows are currently tested for the disease under Agriculture Department guidelines. The agency argues that more widespread testing does not guarantee food safety and could result in a false positive that scares consumers." ... "Mad cow disease, or bovine spongiform encephalopathy, can be fatal to humans who eat tainted beef. Three cases of mad cow disease have been discovered in the U.S. [United States] since 2003." -By Sam Hananel -AP via -SFGate.com

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• John McCain - Money - Politics - 2008 Election - Environment - History - Arizona - Nevada - Federal - Real Estate - Land - "McCain Pushed Land Swap That Benefits Backer." ... "[2008 Election Republican Presidential Candidate and Arizona Senator] Sen. John McCain championed legislation that will let an Arizona rancher trade remote grassland and ponderosa pine forest here for acres of valuable federally owned property that is ready for development, a land swap that now stands to directly benefit one of his top presidential campaign fundraisers]." ... "Initially reluctant to support the swap, the Arizona Republican became a key figure in pushing the deal through Congress after the rancher and his partners hired lobbyists that included McCain's 1992 Senate campaign manager, two of his former Senate staff members (one of whom has returned as his chief of staff), and an Arizona insider who was a major McCain donor and is now bundling campaign checks." ... "When McCain's legislation passed in November 2005, the ranch owner gave the job of building as many as 12,000 homes to SunCor Development, a firm in Tempe, Ariz. [Arizona], run by Steven A. Betts, a longtime McCain supporter who has raised more than $100,000 for the presumptive Republican nominee. Betts said he and McCain never discussed the deal." ... "The Audubon Society described the exchange as the largest in Arizona history. The swap involved more than 55,000 acres of land in all, including rare expanses of desert woodland and pronghorn antelope habitat. The deal had support from many local officials and the Arizona Republic newspaper for its expansion of the Prescott National Forest. But it brought an outcry from some Arizona environmentalists when it was proposed in 2002, partly because it went through Congress rather than a process that allowed more citizen input." ... "Although the bill called for the two parcels to be of equal value, a federal forestry official told a congressional committee that he was concerned that "the public would not receive fair value" for its land. A formal appraisal has not yet begun. A town official opposed to the swap said other Yavapai Ranch land sold nine years ago for about $2,000 per acre, while some of the prime commercial land near a parcel that the developers will get has brought as much as $120,000 per acre." ... "In an interview, Betts said there is "absolutely no" connection between his contributions to McCain's presidential bids and the deal involving rancher Fred Ruskin and the Yavapai Ranch Limited Partnership." ... "Betts is among a string of donors who have benefited from McCain-engineered land swaps. In 1994, the senator helped a lobbyist for land developer Del Webb Corp. pursue an exchange in the Las Vegas [Nevada] area, according to the Center for Public Integrity. McCain sponsored two bills, in 1991 and 1994, sought by donor Donald R. Diamond that yielded the developer thousands of acres in trade for national parkland." ... "In the late 1990s, McCain promoted a deal in Arizona's Tonto National Forest involving property part-owned by Great American Life Insurance, a company run by billionaire Carl H. Lindner Jr., a prolific contributor to national political parties and presidential candidates." ... "In Arizona, SunCor is a subsidiary of Pinnacle West, the state's largest power company. Betts, as Ruskin described him, "politically is a very powerful guy in the state."" ... "Officials from the company and its subsidiaries have accounted for $100,000 in contributions to McCain's political campaigns over the years, records show." (1, 2) -By Matthew Mosk with contributions by Alice Crites -WashingtonPost

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• Oil - Government - New York - Missouri - US - Euro - History - "Oil Climbs Above $126 to Record as Dollar Weakens Against Euro." ... "Crude oil for June delivery rose $2.27, or 1.8 percent, to a record closing price of $125.96 a barrel at 2:55 p.m. on the New York Mercantile Exchange. The contract surged to $126.27 today, the highest since futures began trading in 1983. Prices are up 8.3 percent this week, the biggest weekly gain in more than a year. Futures have more than doubled in the past year." ... "The dollar fell 9.6 percent since Sept. 18, when the Federal Reserve began cutting rates to ease financial-market strains and stave off a recession. The U.S. [United States] central bank cut rates seven times while the ECB [European Central Bank] has left rates unchanged. The dollar fell 0.6 percent to $1.5483 per euro at 3:27 p.m. in New York." ... "``Fed policy is accommodating the rise in energy prices,'' said Bill O'Grady, director of fundamental futures research at Wachovia Securities in St. Louis [Missouri]. ``The Fed and federal government are putting more liquidity in people's pockets, which is being spent on expensive oil.''" ... "The U.S. government started sending $117 billion in tax rebate checks last week as part of its fiscal stimulus plan." ... "Heating oil for June delivery climbed 12.62 cents, or 3.6 percent, to close at a record $3.636 a gallon in New York." ... "Gasoline futures for June delivery rose 6.34 cents, or 2 percent, to $3.2012 a gallon in New York after reaching a record $3.2038 today." ... "Regular gasoline, averaged nationwide, rose 2.6 cents to a record $3.671 a gallon, AAA, the nation's largest motorist organization, said today." -By Mark Shenk -Bloomberg 

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