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by Shane V…

This has to be 1-2 par
Many high-technology companies, like Nortel Networks, Micron Technology and JDS Uniphase, have written down massive amounts of their inventory. For example, Nortel Networks revalued some of its inventory parts at $0, though the inventory initially cost Nortel $650 million.
Companies are required to report whether they write off the cost value (or book value) or their inventory even if they do not dispose of the inventory. Later on, they may sell this inventory but are not required to report the sale for cash of previously “worthless” inventory. The effect may be that in future years, when the inventory is sold, profits are overstated.
Also in the article, JDS Uniphase said it will write off $250 million of its inventory but promised to disclose any future sale. On the other hand, Micron Technology, which wrote down $260 million, won’t disclose any future sale (Krantz, 2001). Should the Securities and Exchange Commission do anything? Why?

Highway 407 toll-road helps provide proof that U.S. Ambassador is misleading Canadians on fascistic NAFTA superhighway agenda
by Paul Chen
U.S. Ambassador to Canada David Wilkins.
The Highway 407 toll-road, helps provide proof that U.S. Ambassador to Canada, David H. Wilkins, is misleading Canadians on the construction of a North American Free Trade (NAFTA) Superhighway, to enable the creation of a fascistic North American Union.
On 8 December 2004, the Canoe Network that is associated with the Sun Newspaper Chain, in Christina Blizzard’s article “Hwy 407: Que Pasa?”, reported that Cintra, witch is part of a Spanish Consortium, owns the 407 toll-road. It had been a public mystery, why would a company all the way from Spain, spend the time to own and construct a toll-road. Even more of a mystery to me, had been, why would government in Canada award a foreign Spanish bid over a Canadian company?
The Coalition to Block the North American Union revealed that the same Cintra company is behind the Trans-Texas Toll-Road Corridor.
Map shows apparent intent to eventually link the Spanish built 407 toll-road, to the Trans-Texas corridor, owned by the same Spanish consortium.
Maps accredited to the North American Forum on Integration (NAFI), which is a non-profit organization based in Montreal, clearly reveals an apparent intention to link Cintra’s Trans-Texas Corridor to the Hwy 407 Toll-Road, which clearly appears to be being built toward Ottawa, within a vast integrated continental toll network.
The 407 Toll-Road in turn was being planned since the late 1980’s, and supports the assertion by the Coalition against the North American Union, that the Security and Prosperity Partnership (SPP), was a part of the agendas of both former Prime Ministers Mulroney and the U.S. President at that time, even before its formal signing in 2005.
Map of the Spanish corporate private owned 407 toll-road around the Greater Toronto Area.
The Trans-Texas Corridor is being designed to provide U.S. and certain Canadian Big Business interests, with easier access to the importing of the outsourced manufacturing of goods, from a further exploited Mexican labour pool, as well from a further exploited Chinese labour pool. U.S. and certain Canadian corporations which have also been exploiting Chinese labour, have been planning a NAFTA superhighway linked with enhanced port connections, to further increase the ability of Big Business interests to make exploitative commercial profit.
Spanish corporate built NAFTA-NAU Superhighway: Looking east from the Highway 50 overpass towards the Highway 407/427 interchange. This interchange is a large 4-level interchange.
U.S. Ambassador to Canada, David H. Wilkins wrote in the Ottawa Citizen on Monday, August 20, that “while conspiracy theories abound, you can take it to the bank that no one involved in these discussions is interested in, or has ever proposed a “North American Union”, a “North American super highway,” or a “North American currency”. The first thing to appreciate is that owners of CanWest Global that owns the Ottawa Citizen have been principal financial donors to Prime Minister Stephen Harper and the Conservative Party of Canada. Mr. Harper who is a principal ally of the Bush administration, is also a signatory of the Security and Prosperity Partnership (SPP). Therefore, CanWest Global’s provision of editorial space to Mr. Wilkins can be seen as an attempt to manipulate the masses through political propaganda.
Spanish built NAFTA-NAU Superhighway: Looking east along Highway 407 from the Bathurst Street overpass in Thornhill. Bathurst Street is located roughly at kilometre marker 75. Notice Highway 7 running through the left-side of this photo. Between Dufferin Street and Bayview Avenue, Highway 407 parallels Highway 7 very closely.
Secondly, there is ample proof that a NAFTA superhighway is currently being constructed. The NAFTA superhighway is being constructed and developed to facilitate the Big Business agenda that indeed seeks to create an anti-democratic “North American Union”. The curiosity of the Hwy 407 toll-road under Spanish corporate ownership is apparent proof of in Canada, of such a SPP-North American Union (NAU) transportation network, that is to be linked with an American toll-road network, with the same ownership.
The “NAFTA superhighway”, is to become a series of very wide toll-roads to stretch all the way into Canada’s north, to rape and pillage Canada’s environmental heritage for elite interests connected to a U.S. political-military-industrial complex. NAFTA superhighway is to facilitate the planned consolidation of Canada as an American colony under the clandestine SPP-NAU agenda.
It was former U.S. President Dwight D. Eisenhower who warned the American people upon his retirement from Office that the political-military-industrial complex constitutes a singular threat to democracy.
Dr. Ron Paul is among the critics of the NAFTA superhighway. The U.S. Ambassador to Canada does not seem to be demonstrating candour on the on-going construction of the NAFTA superhighway.
“This superhighway would connect Mexico, the United States, and Canada, cutting a wide swath through the middle of Texas and up through Kansas City. Offshoots, would connect the main artery to the west coast, Florida, and northeast. Proponents envision a ten-lane colossus the width of several football fields, with freight and rail lines, fibre-optic cable lines, and oil and natural gas pipelines running alongside,” says Ron Paul, who represents Texas in the U.S. Congress.
The NAFTA superhighway map and agenda appears to have been generated by leaked documents associated with SPP related proceedings, which various groups have sought to disseminate.

Outside the Church there is no Salvation….if yes can you show some biblical references that support such an arrogant pridful statement???
“Outside the Church there is no salvation” is a doctrine of the Catholic Faith that was taught By Jesus Christ to His Apostles, preached by the Fathers, defined by popes and councils and piously believed by the faithful in every age of the Church. Here is how the Popes defined it:
“There is but one universal Church of the faithful, outside which no one at all is saved.” (Pope Innocent III, Fourth Lateran Council, 1215.)
“We declare, say, define, and pronounce that it is absolutely necessary for the salvation of every human creature to be subject to the Roman Pontiff.” (Pope Boniface VIII, the Bull Unam Sanctam, 1302.)
“The most Holy Roman Church firmly believes, professes and preaches that none of those existing outside the Catholic Church, not only pagans, but also Jews and heretics and schismatics, can have a share in life eternal; but that they will go into the eternal fire which was prepared for the devil and his angels, unless before death they are joined with Her; and that so important is the unity of this ecclesiastical body that only those remaining within this unity can profit by the sacraments of the Church unto salvation, and they alone can receive an eternal recompense for their fasts, their almsgivings, their other works of Christian piety and the duties of a Christian soldier. No one, let his almsgiving be as great as it may, no one, even if he pour out his blood for the Name of Christ, can be saved, unless he remain within the bosom and the unity of the Catholic Church.” (Pope Eugene IV, the Bull Cantate Domino, 1441.)
But man, following the example of his natural father, Adam, often disobeys the authority of God. The fact that the doctrine had to be thrice defined itself proves the Church’s paternal solicitude in correcting her erring children who fall into indifferentism. The first goal of Saint Benedict Center is to defend this doctrine. We present here a selection of various articles written for that end

People say that economics is complicated. But it sure looks simple to me. After all, what’s so complicated about a sector that can be represented in a single arrow? Up for good, down for bad. And if that weren’t easy enough, we’ve got green for good, and red for bad. It’s child’s play. It even looks like a toy I played with as a child. The green arrow made a cow moo, as I remember.
Looks, however, can be deceiving. And so it is with the ubiquitous stock ticker arrow that increasingly serves as a stand-in for broad economic data. More and more, the arrow is all that’s discussed — did stocks rise or did they fall? — as if the movement of the market were synonymous with the fortunes of the economy.
This approach is perhaps best demonstrated by CNBC commentator Larry Kudlow, who routinely writes and says things like, “The stock market actually rose in August, and opened higher in the first day of September trading earlier this morning. If stocks are optimistic, then so am I.”
But Wall Street is not Main Street. Its fluctuations may demonstrate economic health and distress, but they may not. The stock market can go up for a variety of reasons. It can be reacting to evidence of rapid, broadly shared economic growth — or the prospect of such growth — and in those cases, it should elicit a cheer from us all. But it also can be reacting to higher corporate profits that come not from increased productivity or growth but directly out of wages, benefits, higher prices or a variety of cost-saving, corner-cutting measures that don’t make the median American’s life any better.
Sometimes, the market is just reacting to shortsighted business practices that supercharge earnings, but only temporarily — as in the case of the housing boom. Or it can go up because of simple irrational exuberance that is reversed with the next morning’s trading — or the next year’s crash. The market’s fluctuations may not say much about the economy, they may not be as simplistically positive or negative as they seem at first glance, and they may not signal durable trends. They must be treated with care.
The media, however, don’t have a whole lot of time to treat them with care. In an age of 24-hour financial channels and daily business broadsheets, the allure of an easily comprehensible number that comes out every few seconds and can serve as the subject for further commentary is hugely seductive. Increasingly, the stock tickers serve the same purpose in economic reporting that poll numbers serve for political scribes: They provide constant, reportable data that can be used to draw broad conclusions about the subject as a whole — but at a cost of accuracy, random fluctuations and significant separation from the issue at hand.
Just as polls are used because the more significant data (such as vote totals) only come out sporadically, so too is the stock ticker helpful to fill time between the monthly job reports, quarterly growth numbers and yearly census data. But polls at least pretend to reflect the relevant metric: election results. The stock market, however, lays claim to no such relevance. If the jagged line tumbles down, it does not mean the average American’s income has fallen as well. If the line shoots up, it does not mean child poverty has abated.
Indeed, in an era of inequality like the one we’re going through now, in which the Center on Budget and Policy Priorities says the top 1 percent control an astounding 19 percent of the nation’s income, the market is less attached to the fortunes of ordinary Americans than ever. In 2004, the wealthiest 1 percent of Americans owned 36.9 percent of all stock. The wealthiest 10 percent controlled 80 percent of all stock. That means the skips and dips of the market tell you very much about how the best-off are doing, but considerably less about how the great bulk beneath are faring.
To focus on the performance of the market, then, is to zero in on an economic indicator that can do well even as the country does poorly. In 2006, for instance, the Dow Jones industrial average hit highs. According to the just released census data, however, median earnings fell 1 percent, and millions more Americans entered the ranks of the uninsured. Indeed, from 2000 to 2007, the S&P 500 gained more than 500 points; meanwhile, the median household’s income, at least as of 2006, fell by more than $900.
Part of the reason the movements of the stock market get so much more attention than those of the labor market is that the stock market more directly affects those with the power to publicize it. It is said that a recession is when your neighbor loses his job, and a depression is when you lose yours. Both, however, may pass without the individuals who run the nation’s media properties feeling even the slightest tremor of insecurity.
This is not their fault. We are an unequal nation, and our experiences of the economy are deeply varied. But the professional classes do own stock. When the market goes down, that represents, for them, real losses, and, on a gut level, a real story. Conversely, when the census numbers are released and earnings continue to stagnate, those are numbers without any connection to the economy that reporters and editors tend to experience. And that’s not even to get into their need to attract wealthy readers and viewers — those who are more likely to own stock — in order to keep advertisers happy. It’s no wonder, then, that the twists of the market are followed closely by the media.
The economy, however, is a complicated thing, particularly as inequality wrenches us further and further apart from one another. The merry green arrow not only neglects the hungry child but the median worker. It tells the story of one of our many economies, but not all, nor even most. And we can’t be unduly distracted by it.
This piece originally appeared in the Los Angeles Times.