GM News Thread

[Brandon H]

This thread will serve as the official news source for the GM.

[Brandon H]

Lawsuit filed affecting Presidential Election
After losing the Presidential Election which went into a tie breaker procedure to determine the winner, Pit has filed a lawsuit against Sec. of Forum Affairs EarlAW. Several voters experienced problems voting during the election and Sec. Earl allowed them to vote a second time. While many agree Earl was well intentioned under the circumstances to let someone re-vote, Pit's lawsuit argues that the Sec. of Forum Affairs does not have the authority to do that. Due to the fact that the next President, which as of right now will be Lief, takes office on Friday July 3, the Supreme Court is working to come to a verdict before that time.

Supporters of both sides have been marching the streets of Nyman in front of the Supreme Court building. Demonstrators have been peaceful thus far but police have been patrolling the streets in the event anything gets out of hand.

Senator-Elect “Dan” gives up seat
Dan, sometimes known as Devilman, was recently elected to the Mideast Regional Senate seat, but he won't be taking the seat. In a stunning announcement, besides giving up the office, he also revealed that he was Josh22.

Iranian Election results upheld
The results of the recent election held in Iran have been upheld. A partial recount show the results are valid and that there was no fraud in the election. Incumbent Mahmoud Ahmadinejad defeated challengers Mir-Hossein Mousavi, Mohsen Rezaee, and Mehdi Karroubi. In a statement to the Fars news agency, Ayatollah Morteza Moghtadai said that "the view of the leadership is the last word, and everybody in the country must obey it," and that further protests would not be tolerated.

That Atlasian Senate recently passed a resolution supporting the Iranian Protesters. Ayatollah Moghtadai said that Atlasia must mind their own business.

[Brandon H]

(The following is based off of real U.S. Numbers as of today yesterday – my internet connection died last night. From this point onward, prices will be affected by actions of the Senate & President as well as the actions of Atlasian companies and foreign countries, which I will simulate. Suggestions for alternative names for the Dow Jones and S&P 500 are welcome.)

Dow Jones – 8280.74 (-223.32) -2.7%
S&P 500 – 896.42 (-26.91) -2.91%
Nasodaq – 1796.52 (-49.20) -2.67%

Unemployment rate – 9.5%

Gold: 1 once = US$932.45 = Atl$932.45 (+4.05)
Silver: 1 once = US$13.41 = Atl$13.41 (+.03)
Platinum: 1 once = US$1183.00 = Atl$1183.00 (+1.50)

Crude Oil: 1 barrel = US$66.32 = Atl$66.32 (-41) .61%

m0   853.2 B (Dec 2008)
m1   1.6 T (May 2009)
m2   8.3 T (May 2009)
m3   14.8 T (estimated - May 2009)

No decision in Presidential Election Lawsuit; Second Lawsuit Filed
With the new term having officially begun, no verdict has been reached in the outcome of the presidential election lawsuit. The court has put an injunction in place stopping Lief from taking office and have allowed outgoing President Bgwah to remain until a verdict has been reached. This has prompted former attorney general and justice Peter Bell to file a lawsuit that it is illegal for bgwah to serve any longer as President and that, because of several other circumstances, Attorney General Keystone Phil should be acting President.

The markets are closed because of the holiday weekend. No word on how investors will react to the current situation, but if this situation is resolved before the markets open on Monday, there should be a minimal effect if any at all.

[Brandon H]

Mideast News
Interest groups issue statements on Animal Protection and Smoking Bills
PETA (People for the Ethical Treatment of Animals) had a mixed message on the Mideast's recently passed Animal Protection Act. While the group applauded the part that that protected certain animals, they felt because of the exceptions it did not go far enough.
Smokers' Rights of Atlasia is hoping the “Public Smoking Act” fails. They believe a ban on public smoking is a violation of the rights of smokers of the region. The Atlasian Lung Association and Atlasians for a Smoke Free Environment issued a joint statement in support of the bill and feel smoking in public violates the rights of non-smokers.

[Brandon H]

World Post Global Times
7/6/2009

Decision reached in Lawsuit, President Lief Sworn in
Late Friday a verdict was reached in the lawsuit filed by Presidential Candidate Pit against Secretary of Forum Affairs EarlAW over disputed votes in the election. The Supreme Court sided with Secretary Earl, upholding the election of Lief and Bacon King. Lief took the Oath of Office and has selected his Cabinet. Outgoing President Bgwah has been nominated as Attorney General and former Senator and Vice-Presidential Candidate Happy Warrior has been nominated for Secretary of External Affairs. EarlAW will remain as Sec. of Forum Affairs. He also made the best decision of all to keep Brandon H as Game Moderator.

Market has mild increase
When the markets closed Thursday, there was much uncertainty over who would be president and when  we would know. With all of these questions answered, the market had an increase.

Dow Jones – 8306.36
S&P 500 – 908.84
Nasodaq – 1777.70

Senate Vacancy to be Filled this weekend
With the election of Bacon King as Vice President, his national at-large senate seat is now vacant. So for former Senator DownWithTheLeft, recent Midwest Senate Candidate Fritz, and Calvin & Hobbes have announced they are running. The election will take place this weekend and the seat will be up for re-election in August.
Mideast Governor Inks.LWC has appointed Assmeblyman Tmthforu94 as its regional Senator as a result of the elected Senator Dan refusing to take his seat.

Southeast, Midwest Consider Major Government Changes
The Southeast Region, also known as the Dirty South, is considering instituting a legislative assembly similar to the one currently used by the Mideast. The assembly would be composed of three members. Legislation would have to be passed by the assembly, signed by the governor, and withstand a potential challenge by the citizens. Proponents hope that this will lead to an increase in regional activity as it has in the Mideast. There is also an initiative to honor former Governor AHDuke99.
The Midwest is also considering important changes of its own, changes that would completely alter the Midwest Government as we know it. One set of proposals by former Ilikeverin Ilikeverin would rename the governor and lieutenant governor to “Governor youGovernor WeallGovernor hughughug” and “Donaudampfschiffahrtsgesellschaftskapitän”. Another proposal from former Ican'tbelieveit'snotverin Lewis Trondheim would rename the positions “the position formerly known as the Ilikeverinship” and “the position formerly known as the Ican'tbelieveit'snotverinship”.
Both regions will be voting on these proposals soon.

Dow Jones (+25.62) - S&P 500 (+12.42) - Nasodaq (-18.82) - Gold (+2.02) - Silver (+0.09) - Platinum (+1.78) - Oil (+0.53)

[Brandon H]

World Post Global Times
7/10/2009

Credit Card companies to drop some customers
Less likely to accept new ones
As a result of the Fair Interest Rate Act, spokes persons for the major credit card companies said they will be forced to drop customers. “The interest rates we charge customers is based on their risks as a customer. If a customer has a high interest rate, it's because we feel they are a higher risk to pay back the money they owe,” said a nameless spokesperson for MasterCard. “If we can set their rates at what their credit risk would dictate, then we won't be able to issue them cards. And we will be forced to drop some of our existing customers.”
A financial analyst from Equifax, a company that provides credit scores, said “Some credit card companies do market cards to people who probably should not have them, particularly college students. Well it looks like they won't have that problem any more. Many people with little credit use credit cards to help build their credit. The credit card companies can't tell who will be and who won't be a responsible person until long after the card is issued. So a person who may be responsible enough to pay back their card will not be able to get a card and will have a very tough time building their credit.”
Reporters were at the University of Massachusetts and asked a few students about this. One student said “I use by credit card to purchase my books at the beginning of the semester. I hope they don't drop my card. Maybe they'll keep me at a lower rate since I always pay of balance on time but I'm still worried.


Ahmadinejad, others critical of recent acts passed by Atlasia
Iranian President Mahmoud Ahmadinejad had strong words for Atlasia upon hearing about a few recently passed bills. “We don't Atlasian parts to build our communication jamming equipment. We can purchase it else where. And the Japanese make better communications equipment than the Atlasians anyway.” commented Ahmadinejad referring to the Free Iranian Communications Act.
Ahmadinejad also had comments regarding the LGBT Trade Act. “Allah condemns homosexual acts and we will continue to do his will against those who practice them, regardless of what Atlasia's trade policies are.” Kuwaiti Prime Minister Sheikh Nawaf Al-Ahmed Al-Jaber Al-Sabah was also disappointed with the bill. “I felt our countries had a good trade relationship. I am disappointed to see something like our views on homosexuality can break that relationship. If they keep up things like this, soon they will have no one to trade with.”

Bad news in foreign, domestic affairs results in slight drop in the market.

Dow Jones - 8286.18(-20.18) - S&P 500 - 903.45(-5.39) - Nasodaq - 1765.78(-11.92) - Gold - $937.52 (+3.05) – Silver -  $13.58 (+0.08) - Platinum - $1186.40 (+1.62) – Oil - $66.50 (-0.35)

[Brandon H]

Senate debates bills, could have major impact on Atlasia

President's Stimulus Bill being debated

President Lief's Economic Relief and Recovery Bill is being debated and would spend over 650 Billion dollars, composed of:

• Direct Aid to Struggling Atlasians
• Infrastructure Investment
• Aid to the Atlasian Auto Industry
• Regional & Local Fiscal Relief
• Responsible Individual & Business Tax Relief

Most of the debate has centered around the auto industry with several amendments being discussed and even one to remove the entire section.

Companies that would gain from this bill saw an increase in their value as investors felt money spent by the government would increase the values of these companies. These include those companies that would be working on roads & highways, manufactures of solar, wind, and hydroelectric equipment. Some investors in the auto industry felt the government investment would help them while others were concerned with the amount of influence the government would hold.

The federal government is currently running at a deficit. Money to finance this would have to be borrowed from other countries which would add to the deficit. Or the Federal Reserve could increase the amount of currency in circulation to help finance this bill but that would lead to an increase in inflation and a decrease in the value of the dollar. With the possibility of this happening, the trading price of commodities have increased.

Health care bill brought to floor of senate

A national health care package has been introduced and bought to the Senate floor. The bill originally set the plan to be paid for through existing money allocated to health care and through an additional sales tax on alcohol, tobacco, and marijuana. But that and many other provisions will probably end up being changed and it seems it will be difficult for the Senate to come to any sort of agreement.

The most controversial part of the bill was the banning of private insurance but that seems destined to be removed. Other parts disagreements are whether wealthy persons, such as Bill Gates, who would more than likely not use the plan even be eligible.

Drug companies (Merck, GlaxoSmithKline, and Pfizer) were on the increase as investors believe that government funding would lead to an increase in sales of their products. Health provides (United, Aetna, Cigna, Bluecross Blueshield) were trading lower as the prospect of competition from the government. But at the same time they remained somewhat optimistic by the fact that the rates the pay the hospitals could be lower because the hospitals might charge them less since the rates are often higher than they should be in order to cover the uninsured.

[Senator Barnes]

Could the please by continued? They're really informative!