» AsianWeek Market Report
» NYPD Slams Brakes on Insurance Fraud Ring Targeting Asians
» Councilman Liu and Business Leaders Announce Assistance for Stores Damaged by Fire
» BART implements new green transit system
» Assemblymember Eng kicks off “There Ought to Be a Law” Contest
» Creative Indian-Americans to vote for Obama
» Obama campaign uses star power to court volunteers
» Kim to play European tour in 2009
» Britain’s Amir Khan to test chin against Fagan
» Women’s Initiative hosts 4th annual business Conference for Women Entrepreneurs
» Asian American Theater Company Announces New Co-Artistic Directors
» Japan Air Force Chief Faces Sack
» Chinese Melamine Scandal Widens
Compiled by Andrew Lee, Carlos Militante, Justine Rivero and Ellis Song
AsianWeek Market Report
| AsianWeek Market Report | ||||
| Asian Stock Indexes | ||||
| NIKKEI 225 | Tokyo | 8,576.98 | -452.78 | -5.01% |
| HANG SENG | Hong Kong | 13,968.67 | -361.18 | -2.52% |
| KRX | Busan | 2,412.19 | 41.28 | 1.74% |
| SSE IX | Shanghai | 5,839.33 | -70.33 | -1.19% |
| BSE | Bombay | 9,788.06 | 743.55 | 8.22% |
| HOSE | Ho Chi Minh | 347.05 | 10.48 | 3.11% |
| SET | Bangkok | 288.76 | 7.23 | 2.57% |
| Asian American Market Report | ||||
| Yahoo! | YHOO | 12.82 | -0.11 | (-0.85%) |
| Citigroup | C | 13.65 | 0.54 | (4.12%) |
| Amkor Technology, Inc | AMKR | 4.06 | 0.49 | (13.73%) |
| Sybase | SY | 26.63 | 0.44 | (1.68%) |
| UnionBancal Corp | UB | 73.42 | 0.02 | (0.03%) |
| East West Bank corp,Inc | EWBC | 17.35 | 0.78 | (4.71%) |
NATION
NYPD Slams Brakes on Insurance Fraud Ring Targeting Asians
NEW YORK — A massive insurance fraud ring that staged dozens of car crashes targeting Asian American drivers in Queens was taken down after a 19-month sting. The multi-agency investigation, dubbed Operation Direct Hit, charged 61 people and two businesses—including a Manhattan health clinic—with orchestrating fender benders in Flushing to fleece insurance companies of more than $1.6 million dollars since 2005.
Scammers targeted Asian drivers because they thought they were “bad drivers [who] would be blamed for the accidents,” officials said. Because of that, Queens District Attorney Richard Brown charged at least one defendant with a hate crime.
The defendants—seven of whom are still on the lam—face up to 25 years, if convicted of enterprise corruption, insurance fraud, grand larceny and fraud charges, authorities said.
— New York Daily News
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Councilman Liu and Business Leaders Announce Assistance for Stores Damaged by Fire
FLUSHING, New York — Council Member John C. Liu, the Flushing Business Improvement District (BID) and the Flushing Chinese Business Association (FCBA) today announced an outreach and assistance program for the local property owners and businesses affected by today’s devastating fire at 136-13 and 136-15 Roosevelt Avenue in Flushing, Queens. Yesterday’s fire and the water used to put it out have seriously damaged a number of businesses in the area and led to the emergency demolition of the buildings today.
The cause of the fire is still under investigation.
Council Member John C. Liu stated: “Fortunately, no one was hurt as a result of this devastating fire. However, this is a total loss to so many people who have worked hard for their small businesses and we will do everything possible to help them get back on their feet. We commend the City’s Department of Small Business Services for responding quickly and stepping up to the plate to assist these entrepreneurs.”
Mabel Law, executive director of the Flushing BID, stated: “Our immediate priority is to work with SBS and their Emergency Response Unit to reach out to all the businesses affected and to expedite their recovery. We want to ensure our businesses will obtain all the information and assistance required to regain their vitality.”
BAY/CALIFORNIA
BART Implements New Green Transit System
OAKLAND, Calif — James Fang, BART’s longest-serving Board member, and the rest of the Board of Directors recently approved an energy-efficiency makeover to upgrade approximately 2,000 old lighting fixtures, replace lighting controls and install emergency lighting features. The partnership between BART and PG&E will help to improve the 16th St./Mission and 24th St./Mission stations with a brighter, more comfortable environment.
The ongoing efforts of this partnership will evaluate other opportunities to reduce energy usage, including solar installations at various facilities, new clean fleet vehicles and increased train efficiency through the use of regenerative braking.
“The new lighting fixtures will be between 30 and 77 percent more efficient than the outdated fluorescent tube fixtures we use at these stations and can save BART 1.6 million kilowatt-hours annually,” Fang said. “This energy-efficiency investment will save BART $167,000 per year, once again underscoring the cost-effectiveness of being green.”
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Assemblymember Eng Kicks Off “There Ought to Be a Law” Contest
El Monte, Calif. — Assemblymember Mike Eng launched the second annual “There Ought To Be a Law” Contest, an effort to engage constituents in the legislative process.
It encourages all residents of the 49th Assembly District to submit a legislative idea by December 5 and the winner(s) of the contest will have her/his bill idea introduced in the 2009 legislative session, have the opportunity to travel to Sacramento to testify in support of the bill in a committee hearing and have lunch with Assemblymember Eng.
Last year, San Gabriel resident Nhung Truong had her winning entry turned into legislation that was ultimately signed into law by Governor Arnold Schwarzenegger. Truong’s bill idea proposed that the state require all hospitals to provide family or next of kin with a reasonable amount of time to bid their final farewells to loved ones that are declared brain dead.
ARTS AND ENTERTAINMENT
Creative Indian Americans to Vote for Obama
NEW YORK — Indian American celebrities such as Booker Prize winners Salman Rushdie and Kiran Desai, award-winning authors Jhumpa Lahiri and Manil Suri, best-selling non-fiction writers Suketu Mehta and Fareed Zakaria and Oscar-nominated director Mira Nair and actor Kal Penn gathered at a fundraiser for Barack Obama and raised over $56,000 for his campaign.
“I’ve had a great opportunity to actually have a lot of conversations with Senator Obama and the things that he has achieved, the things he wants to achieve; I’ve never heard anyone else talk about. So, I’m excited to be here,” says actor Kal Penn.
— IBNLive.com
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Obama Campaign Uses Star Power to Court Volunteers
Between production work for his FOX series House, actor Kal Penn has worked phone banks for Obama and helped out by courting volunteers on college campuses.
Kal Penn urged about 100 college students at the University of North Carolina at Asheville, some wearing pajama pants and munching on breakfast at a midday event last Sunday, to get involved in any way possible.
“It requires a little bit of sacrifice — and we’re hoping that you do that because the stakes are just way too high,” Penn said. “The simple acts of what you guys are doing — volunteering and signing up — is going to make the difference.”
— AP
SPORTS
Kim to Play European Tour in 2009
SOTOGRANDE, Spain — Anthony Kim has joined the European tour, the latest of a half-dozen U.S. tour players who have decided to take up joint membership in Europe for the 2009 season.
Kim, a 23-year-old American whose two PGA Tour victories propelled him to No. 8 in the world ranking, paid the $3,280 membership fee that makes him eligible for the season-ending $10 million “Race to Dubai” for the top 60 players and the additional $10 million bonus pool.
He is scheduled to play the HSBC Champions in Shanghai on Nov. 6-9.
— AP
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Britain’s Amir Khan to Test Chin Against Fagan
LONDON — Knocked out in 54 seconds for his first defeat, Amir Khan will test his chin against Oisin Fagan on Dec. 6.
The big-punching British lightweight, who won his first 18 fights before he ran into Breidis Prescott’s left hook in Manchester last month, hopes to bounce back with a convincing victory over Fagan, a United States-based Irishman, at London’s ExCel arena.
With only 13 victories inside the distance, Fagan might not have the punching power to worry Khan. But the Irish fighter with 22 wins in 27 fights only has been stopped once and should provide a strong test for the 2004 Olympic silver medalist.
Since the loss to Prescott, Khan has been training in the U.S. with Freddie Roach, whose assistant, Dean Powell, will be in his corner for the Fagan fight.
—AP
COMMERCE
Women’s Initiative Hosts 4th Annual Business Conference for Women Entrepreneurs
SAN FRANCISCO — Women’s Initiative, a Bay Area non-profit offering training and support to low-income women wanting to start and grow their own businesses, is hosting its fourth annual bilingual English/Spanish business conference for women entrepreneurs on Monday, November 3, at the Hyatt Regency San Francisco. This year’s conference, Live Your Dreams, is expected to attract more than 800 guests for a day of educational seminars, inspirational speakers, networking with peers and business leaders and shopping at the Women’s Initiative Graduate Marketplace. American Express and Kaiser Permanente generously sponsor the conference.
A highlight of the day is the Leadership Luncheon during which Women’s Initiative will honor women-owned businesses who embody the Women’s Initiative philosophy of leadership, entrepreneurship and giving back with the prestigious Pacesetter Award. One business from each of the Bay Area Counties that Women’s Initiative serves will be honored. In addition, one graduate of the Women’s Initiative program will be presented with the Giving Graduate Award, recognizing her tireless support and volunteer work on behalf of the organization.
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Asian American Theater Company Announces New Co-Artistic Directors
SAN FRANCISCO — Celebrating its 35th Anniversary Year, the Asian American Theater Company proudly announces that Duy Nguyen and Alan S. Quismorio have joined the company as co-artistic directors.
That journey began in different ways for the two co-artistic directors. Duy emigrated from Vietnam and received his BA in English from UC Berkeley. Alan received his BA in Radio and Television from San Francisco State University and has been a long-time actor, director and producer in the Bay Area.
GLOBAL
Japan Air Force Chief Faces Sack
The head of the Japanese air force is to be sacked after saying the country was not an aggressor in World War II, Japan’s defense minister said. Yasukazu Hamada said Gen. Toshio Tamogami‘s views, written in an essay, ran counter to the government’s position on the war.
The general’s views are likely to anger many of Japan’s neighbours. China, North and South Korea and other Asian nations still have traumatic memories of Japan’s aggression and colonial rule. Japan expressed remorse for its wartime actions in 1995, and then gave another apology 10 years later.
Mr. Hamada said that by acting swiftly against the general, the Japanese government was making it clear that it did not share his views which, he said, could stir controversy in Asian nations.
Japanese Prime Minister Taro Aso, who is also known for his conservative views on history, said the general’s viewpoint was inappropriate “even if he expressed it personally.”
— BBC News
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Chinese Melamine Scandal Widens
The toxic chemical melamine is probably being routinely added to Chinese animal feed, state media has reported. Correspondents say the unusually frank reports in several news outlets are an admission that contamination could be widespread throughout the food chain.
The melamine scandal began early in September, when at least four Chinese babies were killed by contaminated milk, and thousands more became ill. The news led firms across Asia to recall products made from Chinese milk.
The problem widened last weekend when the authorities in Hong Kong reported that melamine had also been detected in Chinese eggs. Four brands of eggs have since been found to be contaminated, and agriculture officials speculate that the cause was probably melamine-laced feed given to hens.
The practice of mixing melamine into animal feed is an “open secret” in the industry, the Nanfang Daily reported.
Analysts say that Friday’s news reports are an unusual departure for Chinese officials, marking what amounts to a tacit government admission that the problem could affect many parts of the food supply.
— BBC News
about the japanese airforce article. europeans used to lop cannon balls at each others for control of trades and merchant goods in the past. now, they’re best buddies, still doing the same thing, except more advance and better and without the cannon balls. the chinese used to claim every land that the miao stepped on, not until the british came and make them eat their own dirt and the japanese tank roll the silly out of them. that is when they were stopped.
why can’t us asian do the same like the europeans? now, those japanese are turning themselves into a whole bunch of xenophobe and misoxene. and the chinese still asked someting that is not tangible. the issue should have solved after 1945, no conditions and no questions asks! war is war. and remember men is not an island, men stumble over pebbles, never over mountains.
The “pebbles” bit IS cute.
But the monkey-see/monkey-do nonsense is er, ah, nerdish?
P.S.: “misoxene? A neologism no less