'Monsters, Inc.' prequel is projected to come out on top against 'World War Z' and 'Man of Steel.'
By Ryan J. Downey
Source: http://www.mtv.com/news/articles/1709398/monsters-university-box-office-preview.jhtml
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SAVAR, Bangladesh (AP) -- The fugitive owner of an illegally constructed building that collapsed and killed at least 377 people was captured Sunday by a commando force as he tried to flee into India. At the disaster site, meanwhile, fire broke out in the wreckage and forced authorities to suspend the search for survivors temporarily.
Mohammed Sohel Rana was arrested in the western Bangladesh border town of Benapole, said Jahangir Kabir Nanak, junior minister for local government. Rana was brought back by helicopter to the capital of Dhaka where he faced charges of negligence.
Rana's capture was announced by loudspeaker at the disaster site, drawing cheers and applause from those awaiting the outcome of a continuing search-and-rescue operation for survivors of Wednesday's collapse.
Many of those killed were workers at clothing factories in the building, known as the Rana Plaza, and the collapse was the deadliest disaster to hit the garment industry in Bangladesh that is worth $20 billion annually and is a mainstay of the economy.
The fire that broke out late Sunday night sent smoke pouring from the piles of shattered concrete and halted some of the rescue efforts ? including a bid to free a woman who was found trapped in the rubble.
The blaze was caused by sparks as rescuers tried to cut through a steel rod to reach the woman, said a volunteer, Syed Al-Amin Roman. At least three rescuers were injured in the fire, he said. It forced them to retreat while firefighters frantically hosed down the flames.
Officials believe the fire is likely to have killed the trapped woman, said army spokesman Shahinul Islam. Rescue workers had delayed the use of heavy equipment for several hours in the hope that she could be extricated from the rubble first. But with the woman presumed dead, they began using heavy equipment around midnight.
An exhausted and disheveled Rana was brought before reporters briefly at the Dhaka headquarters of the commando team, the Rapid Action Battalion.
Wearing a printed shirt, Rana was sweating as two security officers held him by his arms. A security official helped him to drink water after he gestured he was thirsty. He did not speak during the 10-minute appearance, and he is likely to be handed over to police, who will have to charge him and produce him in court within 24 hours.
A small-time politician from the ruling Awami League party, Rana had been on the run since the building collapsed Wednesday. He last appeared in public Tuesday in front of the Rana Plaza after huge cracks appeared in the building. Witnesses said he assured tenants, including five garment factories, that the building was safe.
A bank and some shops on the first floor closed Wednesday after police ordered an evacuation, but managers of the garment factories on the upper floor told workers to continue their shifts.
Hours later, the Rana Plaza was reduced to rubble, crushing most victims under massive blocks of concrete.
Rana's arrest was ordered by Prime Minister Sheikh Hasina, who is also the Awami League leader.
On Saturday, police arrested three owners of two factories. Also detained were Rana's wife and two government engineers who were involved in giving approval for the building design. Local TV stations reported that the Bangladesh High Court has frozen the bank accounts of the owners of all five garment factories in the Rana Plaza.
Three floors of the eight-story building apparently were built illegally.
A garment manufacturers' group said the factories in the building employed 3,122 workers, but it was not clear how many were inside when it fell. About 2,500 survivors have been accounted for.
Army Maj. Gen. Chowdhury Hasan Suhrawardy, the coordinator of the rescue operations, said the next phase of the search involved the heavy equipment such as hydraulic cranes that were brought to the disaster site Sunday. Searchers had been manually shifting concrete blocks with the help of light equipment such as pickaxes and shovels, he said.
The work will be carried out carefully so as not to mutilate bodies, he said. "We have engaged many private sector companies which supplied us equipment, even some heavy ones," Suhrawardy said.
In a rare bit of good news, a female worker was pulled out alive Sunday. Rescuer Hasan Akbari said when he tried to extricate a man next to the woman, "he said his body was being torn apart. So I had to let go. But God willing, we will be able to rescue him with more help very soon."
The collapse and previous disasters in garment factories have focused attention on the poor working conditions of workers who toil for as little as $38 a month to produce clothing for top international brands.
The death toll surpassed a fire five months ago that killed 112 people and brought widespread pledges to improve worker-safety standards. But since then, very little has changed in Bangladesh.
Its garment industry was the third-largest in the world in 2011, after China and Italy, having grown rapidly in the past decade.
Among the garment makers in the building were Phantom Apparels, Phantom Tac, Ether Tex, New Wave Style and New Wave Bottoms. Altogether, they produced several million shirts, pants and other garments a year.
The New Wave companies, according to their website, make clothing for several major North American and European retailers.
Britain's Primark acknowledged it was using a factory in Rana Plaza, but many other retailers distanced themselves from the disaster, saying they were not involved with the factories at the time of the collapse or had not recently ordered garments from them.
Wal-Mart said none of its clothing had been authorized to be made in the facility, but it is investigating whether there was any unauthorized production.
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AP writers Farid Hossain and Gillian Wong in Dhaka contributed to this report.
Source: http://news.yahoo.com/owner-collapsed-building-captured-bangladesh-184621056.html
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By Kevin Drawbaugh and Nanette Byrnes
(Reuters) - Verizon Communications Inc's chances of buying the 45-percent stake in Verizon Wireless owned by the UK's Vodafone Group Plc will hinge, at least in part, on the quality of tax advice it is getting.
Verizon, the No. 2 U.S. telecommunications company, may have found a way to structure a purchase of the stake so that Vodafone can avoid a multi-billion dollar U.S. capital gains tax bill, sources familiar with Verizon's plans said. The possibility of a huge tax bill has previously been regarded by analysts as a big hurdle to any such deal.
Reuters reported last Wednesday that Verizon was preparing a bid worth about $100 billion to take full control of Verizon Wireless - it already owns the other 55 percent - by buying the stake, according to people familiar with the matter. There are no guarantees that Vodafone will want to sell its stake or that Verizon will pursue the plan.
Vodafone declined to comment on the possibility of a Verizon bid for its stake or on the tax question.
One person familiar with the situation said Vodafone cannot consider the size of any tax payout in a possible transaction until the company has received an offer, which it has not.
A Verizon spokesman declined to comment.
Verizon hopes that if it structures a transaction to eliminate much of the tax bill, it can encourage Vodafone to come to the table for talks. Some analysts and investors say Verizon may have to pay as much as $130 billion to clinch the deal.
The tax bill on $100-billion deal, based on a simple acquisition of the stake, would be about $38 billion, according to UBS Investment Research. It could be much higher if the deal's price-tag rises above that figure, UBS noted.
That tax bill is based on the massive growth Verizon Wireless has experienced since it was established 13 years ago. The 45-percent stake that Verizon Communications wants to buy is owned by Vodafone Americas, a U.S. holding company. Given it is a U.S. entity, if Vodafone Americas were to sell that stake outright it would have to pay the full capital gains tax on the stake.
But the sources said Verizon Communications is contemplating a two-part deal that could avoid this. Instead of buying the stake outright, the sources said, Verizon Communications would buy the Delaware-based Vodafone Americas. Analysts said the seller of Vodafone Americas would not be a U.S.-based entity, so no U.S. capital gains tax would be due.
Vodafone's international structure is complicated, involving many holding companies, and the precise ownership of some assets is unclear. Vodafone Americas also owns some of Vodafone's non-US assets, the sources said, probably including some in Germany and Spain. These would be sold back to Vodafone by Verizon Communications, which would keep the Verizon Wireless stake, they said.
The two transactions could be done simultaneously or one after the other.
While the sale of the Verizon Wireless stake would not incur capital gains tax, the sale of the international assets back to Vodafone would. This is because it would involve the sale of assets by Verizon Communications, a U.S. entity.
Compared to Verizon Wireless, the smaller international assets are thought to have gained little in value. Analysts estimated their sale could hit Verizon Communications with a U.S. tax bill of about $5 billion or less.
The sources said that Verizon would seek to pass any tax hit onto Vodafone in the two-part transaction.
LONG COURTSHIP
Verizon has long coveted its partner Vodafone's stake in the Verizon Wireless joint venture, which started operations in 2000.
The last time the two came close to a deal was in 2004, when Vodafone bid for AT&T Wireless. The British company, the world's second-largest mobile operator, however, lost that bid to Cingular and has since held on to the Verizon Wireless stake for its exposure to the U.S. wireless market.
Wall Street analysts had previously seen it as unlikely that Verizon would want to do a deal involving Vodafone Americas' international assets. But those assets have underperformed in recent years when compared with the growth of Verizon Wireless, and are now a smaller part of the holding company, reducing the potential tax hit.
However, the timing of Verizon's interest in doing the deal has more to do with the gains in its stock price and low interest rates, the sources stressed.
Verizon is considering paying about half of the purchase price in cash and half in stock, Reuters reported on Wednesday. That means it may look to raise around $50 billion in debt.
UK TAX QUESTION
The kind of deal structure envisaged would still leave Vodafone with another tax question, said UK academics and analysts: Should it leave the proceeds from any sale offshore or bring them home to the UK?
Leaving the money offshore might invite scrutiny from the U.S. Internal Revenue Service, which sometimes questions transactions if they seem designed solely to avoid tax and are not based in an underlying economic logic, said Prems Sikka, professor of accounting at the University of Essex in the UK.
If the transaction were shaped the way the sources have described it, Vodafone would probably repatriate the proceeds into Britain, said Charles Merriman, managing director at Merriman Capital Transactions, a consultancy in London.
Once that was done, he said, the company might be able to reduce its tax bill by taking advantage of the UK's substantial shareholdings exemption. Under certain conditions, this exempts from UK corporation taxation any gains realized when one company disposes of shares in another company.
More broadly, though, Vodafone could face a political backlash in the UK from any deal that was clearly structured to avoid taxation, said Robin Bienenstock, senior analyst at Bernstein Research.
U.S. companies such as Starbucks, Amazon and Google have come under fire from British lawmakers for using legal maneuvers to cut their tax bills in the UK.
"The problem with tax is not just the technical ability to avoid it, but the scorched earth that trying to avoid it could leave with the UK government afterwards," said Bienenstock. "Recent tax cases in the UK ... suggest that an attempt to avoid tax on such a large and high profile deal would be very badly received."
(Reporting by Kevin Drawbaugh in Washington, D.C. and Nanette Byrnes in Chapel Hill, N.C.; Additional reporting by Kate Holton and Tom Bergin in London; So Young Kim and Paritosh Bansal in New York; Editing by Martin Howell)
Source: http://news.yahoo.com/analysis-tax-strategy-may-key-verizon-wireless-deal-050341644.html
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SAVAR, Bangladesh (AP) -- A fire broke out late Sunday in the wreckage of the garment factory that collapsed last week in Bangladesh, with smoke pouring from the piles of shattered concrete and some of the rescue efforts forced to stop.
The fire came four days after the collapse, as rescuers were trying to free a woman they found trapped in the rubble. The flames broke out when sparks were generated by those rescuers trying to cut through a steel rod to reach the woman, said a volunteer rescuer, Syed Al-Amin Roman. At least three rescue workers were injured in the fire, he said.
Rescuers have retreated from the part of the wreckage where the fire erupted, but were still trying to reach any possible survivors in other parts of the destroyed eight-story building.
Firefighters were frantically hosing down the flames.
"Hopefully we will be able to control it," said Brig. Gen. Mohammed Siddiqul Alam Shikder, who is overseeing rescue operations.
It wasn't immediately clear what happened to the trapped woman.
The fire came hours after the owner of the illegally-constructed building was captured Sunday at a border crossing with India.
Mohammed Sohel Rana was arrested in Benapole in western Bangladesh, just as he was about to flee into India's West Bengal state, said Jahangir Kabir Nanak, junior minister for local government. Rana was brought back by helicopter to the capital Dhaka where he faced charges of negligence.
Rana's capture brought cheers and applause when it was announced on a loudspeaker at the site of the collapsed building in the Dhaka suburb of Savar.
At least 377 people are confirmed to have died in the Wednesday collapse. Three of the building's floors were built illegally. The death toll is expected to rise but it is already the deadliest tragedy to hit Bangladesh's garment industry, which is worth $20 billion annually and is a mainstay of the economy. The collapse and previous disasters in garment factories have focused attention on the poor working conditions of workers who toil for as little as $38 a month to produce clothing for top international brands.
Bangladesh's garment industry was the third largest in the world in 2011, after China and Italy, having grown rapidly in the past decade. The country's minimum wage is the equivalent of about $38 a month.
Source: http://news.yahoo.com/fire-breaks-collapsed-factory-bangladesh-165955376.html
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All WWE programming, talent names, images, likenesses, slogans, wrestling moves, trademarks, logos and copyrights are the exclusive property of WWE, Inc. and its subsidiaries. All other trademarks, logos and copyrights are the property of their respective owners. ? 2013 WWE, Inc. All Rights Reserved. This website is based in the United States. By submitting personal information to this website you consent to your information being maintained in the U.S., subject to applicable U.S. laws. U.S. law may be different than the law of your home country. WrestleMania XXIX (NY/NJ) logo TM & ? 2013 WWE. All Rights Reserved. The Empire State Building design is a registered trademark and used with permission by ESBC.
Source: http://www.wwe.com/shows/smackdown/2013-04-26/smackdown-live-results-april-26-2013
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We'll talk to Bobby Seale about the history of The Black Panther Party. Find out what they really meant by terms like "Power To The People" and "Black Power".
Said to be one of the most emotional airings to date, The Hanif J. Williams Show explores the underworld of Human Trafficking with Glendene Grant.
Draft Insider is joined by Co-Host Jason Davis and Peter Bukowski of Sports Illustrated to cover the 2013 NFL Draft live during the entire first round.
Fantasy JAM at the NFL Draft. Join their team along with bloggers from NFL Teams LIVE during the 2013 NFL Draft.
Grab a seat and listen to the Pre-draft discussion and Live Pick By Pick Coverage! Former Jacksonville Jaguar, Tom McManus will joining the show!
The esteemed defense attorney Mr. Joey Jackson will be joining the King Jordan Radio Show on Wednesday April 24th at 11:30AM est.
Once the wedding?s wrapped, why pack your dress in mothballs when it can fetch a pretty penny? says Cheryl Henker of Centsable Way consignment bridal shop.
Today, Michael Zislis is hear to talk about The 8th Annual Ultimate Wine Festival, Sunday, April 28th at the Shade Hotel in Manhattan Beach.
LOTL Welcomes Mr Phil Perry who debuts his new CD " Say Yes ". Phil Perry is a two time winner in the SoulTracks Readers' Choice Awards.
Blue state blues with two savvy conservative ladies, NY Pundit Karen Beseth and Cali's Leslie Eastman.
National Film Critics' Search offers an opportunity to interview celebrities on the Red Carpet in Hollywood! YMCritic Jakiyah and Juanita Richburg Seon give details.
On April 26, 2013, couple Pat Dwyer and Stephen Mosher will have been together for 27 years, the same day their documentary opens in New York City.
Emmy Award winning actress, Tricia Cast talks on her over 25 year role as Nina Webster on the #1 daytime drama, The Young and the Restless.
NWP welcomes Mackenzie Astin, son of Hollywood legends Patty Duke and John Astin. We talk about his new award winning film Hell and Mr. Fudge.
Sidekick Talk Radio shares with you the best information on Martial Arts, and the Martial Arts industry worldwide.
The Well Informed Traveler with Michael McDermott feeding you insider tips through expert guests in the travel, food ,wine and fashion world.
Rick Baker, author of No GoodByes, discussing the disappearance of the McStay family in 2010, when the family mysteriously vanished from their California home.
Newcomer Jack Reynor joins host Robin Milling at The Tribeca Film Festival for his film, What Richard Did, and talks about preparation for Transformers 4.
Award-winning poet Michael Warr visits Talkupy with Annie Lindstrom to celebrate National Poetry Month.
Hasani Pettiford, featured relationship expert for TV-One's reality show Love Addiction, helps single men and women escape "The Friend Zone."
Join vocal communication specialist and singer Michelle Bailly as she teaches us how to express our authentic voice and discover our true identity!
Pop sensation Brittany Smooch has teamed up with Project G.L.A.M. to provide prom dresses and matching accessories for underprivileged girls.
Behind the Mic Radio catches up with Eve Plumb, best known for her portrayal of Jan Brady on The Brady Bunch and talks her new passion; art.
Dennis Daniel talks with voice actor Peter New, best known as Big MacIntosh from the popular series, My Little Pony: Friendship is Magic
One of the greatest guitarists of all time, rock/jazz fusion pioneer, John McLaughlin is going stronger than ever after 4 decades.
Source: http://www.blogtalkradio.com/dragons-lair/2013/04/26/astrology-show-5
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