Almanacs “U.K. Traders May Face ‘Skittish’ Markets on Delayed Vote Count - BusinessWeek” plus 4 more |
- U.K. Traders May Face ‘Skittish’ Markets on Delayed Vote Count - BusinessWeek
- State counties need control to meet 180-day school standard - Times West Virginian
- Great Outdoors Almanac - Green Bay Press-Gazette
- Daily almanac - Columbus Dispatch
- The almanac - United Press International
| U.K. Traders May Face ‘Skittish’ Markets on Delayed Vote Count - BusinessWeek Posted: 21 Jan 2010 03:15 AM PST
January 21, 2010, 06:19 AM EST
By Robert Hutton and Kitty Donaldson Jan. 20 (Bloomberg) -- Adam McCormack worked through election night in 1992, selling U.K. government bonds as markets rallied on an unexpected win by the Conservatives. For the 49-year-old head of gilt sales at Barclays Capital in London, trading after this year's election may be little more than guesswork. That's because the results, typically available by about 3 a.m., may not land until the next afternoon, sending prices swinging on partial tallies as traders bet on the outcome of what may be the closest election in 18 years. More than a third of U.K. election districts may drop the practice of counting ballots through the night. With opinion polls pointing to the prospect of no one gaining a majority -- resulting in a so-called hung parliament -- the delayed count includes nine seats that David Cameron's Conservatives need to oust Gordon Brown's Labour Party. "The market might be tense and skittish," said McCormack. "You can't price this in. The difference between the market's perception of a Conservative victory and a hung parliament could be large." The outcome may determine how quickly the government cuts its record peacetime budget deficit. The failure of either side to win a majority may lead to a paralyzed government unable to cut spending or raise taxes, risking "a run on sterling," John White, who runs U.K. equity funds for London-based GLG Partners LP, told reporters yesterday. The 2010 election date hasn't been set yet by Brown, who must go to the polls by June 3. Every vote since 1931 has been held on a Thursday. Because local balloting is scheduled for May 6, most analysts and Labour briefing documents point to that as the likely voting day. Districts Delaying The need for local governments to save money and new rules were among the reasons prompting 52 districts to delay counting votes until the day after the election, according to an Electoral Commission paper published Jan. 7. Seventeen say they'll delay if the election is set for May 6. Another 187 say they're still considering their options. Among those that won't count on the night are two seats in Milton Keynes, a city northwest of London, and two in nearby Northampton. The Conservatives need to win all four to control Parliament. Birmingham, central England, has said that if Brown goes for May 6, it won't count any of its nine seats until the next day. It has three Conservative targets. The Milton Keynes Council blamed regulations requiring identity checks on postal ballots for the delay. "It will take several hours after the polls close to complete all of the checks on the postal votes before we can start counting," according to a council statement. 'No Good Reason' Labour is pushing voting districts not to delay the count, said Justice Secretary Jack Straw. "We believe that there is no good reason in the vast majority of cases why counting cannot take place on election night as it has in the past," he said. When polls close at 10 p.m., BBC and ITN television news will publish exit polls. In 1992, these polls told Conservative Prime Minister John Major mistakenly that he'd lost. Robert Waller, the co-author of "The Almanac of British Politics" who worked on that poll, said the error was partly due to the exclusion of last-minute voters who favored the Conservatives. "Since then, the exit polls have been very close indeed," he said in an interview. "I think they will be again. But don't forget that even being a fraction of a percent out will make 10- 20 seats difference on the majority, or lack of one. If an exit poll is more accurate than that, it's pure luck." Polls suggest that any Conservative majority may fall within that margin of error. Rob Hayward, a former Conservative lawmaker who now advises the party on technical aspects of elections, predicts a Conservative majority of about 30 seats. 'Morning After' "There are enough marginal seats that are counting the next day that no one will know the result the morning after," he said. "It's unlikely Cameron will cross the line until at least midday and possibly 2 p.m. on the Friday." Ruth Fox, director of the parliament and government program at the Hansard Society, a political-education charity, said it could take even longer. "It's conceivable that we may not get the result until Saturday," she said in an interview. "If it is that close, the market just won't know." Major's surprise victory over Labour in 1992 pushed long- dated gilt futures up 3 percent between the close on polling day and the markets' open the next day. Trading volume the day after the election exceeded the four preceding days combined total. Stocks' Gains Then, the result was clear by 3:30 a.m. and the benchmark FTSE-100 stock index opened up 5 percent. Stephen Lewis, 61, who has 40 years of experience in the financial industry, said the election of 1974 may offer a precedent for 2010: no one emerged with a majority, resulting in four days of negotiations over who would form the government. In the end Labour, who took more seats, formed a government instead of the Conservatives, who won more votes. "There was real uncertainty," said Lewis, now chief economist at London-based Monument Securities. "One could imagine that today's market will be flying around a lot on the uncertainty," said Lewis. "But very small amounts are going to be moving around in the morning awaiting the result. If the result is unclear, the real-money investors will be holding back waiting for information, leaving the market to the traders."
--With assistance from Tom Cahill, Keith Jenkins, Gonzalo Vina, Anchalee Worrachate, Scott Hamilton, Ambika Behal, Eduard Gismatullin, James Lumley and Mark Gilbert in London. Editors: James Hertling, Mark Schoifet To contact the reporter on this story: Robert Hutton in London at +44-20-7222-5241 or rhutton1@bloomberg.net; Kitty Donaldson in London at +44-20- 7976-1795 or kdonaldson1@bloomberg.net To contact the editor responsible for this story: James Hertling in Paris at +33-1-5365-5075 or jhertling@bloomberg.net -0- Jan/20/2010 00:00 GMT Five Filters featured article: Chilcot Inquiry. Available tools: PDF Newspaper, Full Text RSS, Term Extraction. | |
| State counties need control to meet 180-day school standard - Times West Virginian Posted: 21 Jan 2010 01:56 AM PST | Published: January 20, 2010 03:09 am State counties need control to meet 180-day school standard Times West VirginianSome numbers are magic — 180, for example. That's the number of days state law mandates school children be in a classroom learning. West Virginia isn't the only one with that magic number. In fact, West Virginia is just one of 30 states with the 180-day standard. Only two states have school calendars longer than 180 days, and 11 have shorter calendars. Six states count hours of instruction instead of days. And in Minnesota, there is no state requirement — local school boards decide their own calendars. And in West Virginia, we don't just have a magic number. We also have magic dates. Aug. 26 and June 8, to be exact, the book-end dates of when local school boards can start and stop instructions. There's something about our magic dates in West Virginia that is making our magic number magically disappear each year. With a definitive start and stop date, the required number of instructional support days, holidays and breaks, the window to get 180 days of actual instructional time in keeps shrinking. Add bad weather into the mix — let's say just one week worth of bad weather — and we've already failed to meet state attendance laws for yet another school year. Gov. Joe Manchin wants to do something about the situation. As part of his legislative agenda, Manchin is pushing a change that would allow counties to decide when to start and stop school each year. "And we must pass this, because it is that important," Manchin said during his State of the State Address. "No excuses; we owe it to our children." The fact is that 180 days has more to do with an agrarian calendar than the quality of a child's education. But while Aug. 26 and June 8 may have once been based on the Old Farmer's Almanac, it now essentially represents a 200-day contract for teachers and some school service personnel. Last year, Manchin's proposal to help counties meet the 180-day requirement failed when both the House and the Senate amended the bills and then failed to reconcile them within the regular session. Unions want measures to control the amount of "disruptions" to the school calendar within the Aug. 26 and June 8 dates. They say that truancy, attendance and the number of school testing days are issues. But even with all of those solved, we're all still coming up short of the 180-day mark. "If the teachers unions are serious about educating West Virginia students, they should be as serious as the West Virginia Senate," Senate Education Committee Vice Chairman Erik Wells, D-Kanawha, told The Associated Press. "We have to make sure that students get the 180 days." Giving control to the counties makes sense. Each one of the 55 counties is unique with unique needs and deserves the flexibility to adjust the calendar. Preston County may choose to start school a week early to accommodate the large amounts of snowfall in that part of the state. Marion County could use a few extra days to play with, as well. Allow us to start early, by even just a few days, to give us an insurance policy that will guarantee that counties meet the law. And if Old Man Winter cooperates, we could start summer vacation a few days early. The governor's right. We owe it to our children. 
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| Great Outdoors Almanac - Green Bay Press-Gazette Posted: 21 Jan 2010 01:34 AM PST INLAND WATERS Bites hit and miss on Winnebago chainJust like on Green Bay, catches inland vary widely. Some anglers are landing panfish, pike, walleyes or largemouth bass, while others are struggling to get even a few bites. The Lake Winnebago chain has been packed with fishermen, but results have been mixed. Those using cameras say they're seeing far more walleyes than they're able to get to bite. Perch, bluegills and white bass are providing more action most days. Shawano Lake and High and Caldron Falls flowages have been popular as well, with a mix of crappies, perch, pike and walleyes available. Low-light is usually best for the crappies and walleyes. Five Filters featured article: Chilcot Inquiry. Available tools: PDF Newspaper, Full Text RSS, Term Extraction. | |
| Daily almanac - Columbus Dispatch Posted: 21 Jan 2010 12:59 AM PST Today is Thursday, Jan. 21, the 21st day of 2010. There are 344 days left in the year. Highlights in History• In 1793, during the French Revolution, King Louis XVI, condemned for treason, was executed on the guillotine. • In 1915, the first Kiwanis Club was founded, in Detroit. • In 1950, former State Department official Alger Hiss, accused of being part of a communist spy ring, was found guilty in New York of lying to a grand jury. (Hiss, who always proclaimed his innocence, served less than four years in prison.) • In 1954, the first atomic submarine, the USS Nautilus, was launched at Groton, Conn. • In 1968, an American B-52 bomber carrying four hydrogen bombs crashed in Greenland, killing one crew member and scattering radioactive material. • In 1970, the Boeing 747 went on its first commercial flight as Pan Am passengers traveled from New York to London. • In 1976, the supersonic Concorde jet was put into service by Britain and France. • Ten years ago: The grandmothers of Elian Gonzalez traveled to the United States to plead for the boy's return to Cuba. • Five years ago: The body of Megan Leann Holden, a college student whose abduction was captured on a surveillance videotape, was found in western Texas. (Johnny Lee Williams Jr. later pleaded guilty and received consecutive life sentences.) • One year ago: In a whirlwind first full day in office, President Barack Obama showcased efforts to revive the economy, summoned top military officials to chart a new course in Iraq and eased into the daunting thicket of Middle East diplomacy. Thought for Today
"Know yourself, and your neighbor will not mistake you." -- Scottish proverb Source: Associated Press Five Filters featured article: Chilcot Inquiry. Available tools: PDF Newspaper, Full Text RSS, Term Extraction. | |
| The almanac - United Press International Posted: 21 Jan 2010 12:30 AM PST Today is Thursday, Jan. 21, the 21st day of 2009 with 344 to follow. The moon is waxing. The morning stars are Mercury and Mars. The evening stars are Saturn, Venus, Jupiter, Uranus and Neptune. Those born on this date are under the sign of Aquarius. They include soldier and Vermont folk hero Ethan Allen in 1738; explorer and historian John Fremont in 1813; Confederate Gen. Thomas "Stonewall" Jackson in 1824; firearms designer John Browning in 1855; Roger Nash Baldwin, founder of the American Civil Liberties Union, in 1884; fashion designer Christian Dior and German high-wire walker Karl Wallenda both in 1905; actors Telly Savalas and Paul Scofield both in 1922; comedian Benny Hill in 1924; famed DJ Robert "Wolfman Jack" Smith in 1938; golfer Jack Nicklaus in 1940 (age 70); opera star Placido Domingo and folk musician Richie Havens both in 1941 (age 69); singers Mac Davis in 1942 (age 68) and Billy Ocean in 1950 (age 60); and actors Jill Eikenberry in 1947 (age 63), Robby Benson in 1956 (age 54) and Geena Davis in 1956 (age 54); U.S. Attorney General Eric Holder in 1951 (age 59). On this date in history: In 1793, French King Louis XVI was executed in Paris. In 1861, Mississippi Sen. Jefferson Davis resigned from the U.S. Senate, 12 days before Mississippi seceded from the Union. He later became president of the Confederate States of America. In 1924, Vladimir Lenin, architect of the Bolshevik Revolution and the first leader of the Soviet Union, died of a brain hemorrhage at the age of 54. In 1954, the world's first atomic-powered submarine, the Nautilus, was launched at Groton, Conn. In 1976, the supersonic Concorde airplane was put into service by Britain and France. In 1977, U.S. President Jimmy Carter pardoned American Vietnam War-era draft evaders and ordered a case-by-case study of deserters. In 1991, Iraq announced that it would use hostages as human shields against allied warplanes. In 1997, the full U.S. House of Representatives voted 395-28 to reprimand Speaker Newt Gingrich, R-Ga., for violating House rules and misleading congressional investigators looking into his possible misuse of tax-exempt donations for political purposes. In 1998, allegations of U.S. President Bill Clinton's affair with former White House intern Monica Lewinsky became public when newspapers reported the story. Also in 1998, Pope John Paul II arrived in Havana for his first visit to Cuba. In 1999, the brother of former Mexican President Carlos Salinas de Gortari was convicted of masterminding the 1994 shooting death of a ruling party official. In 2000, a military junta seized power in Ecuador. The next day, following expressions of international concern, the junta leaders turned the government over to the country's vice president. In 2003, the U.S. Census Bureau said Hispanics had moved past African-Americans as the largest minority group in the United States. In 2004, a U.S. scientist who had toured North Korea nuclear facilities told the U.S. Congress there was evidence they could produce enriched plutonium. In 2005, Iraq officials said $300 million was taken from Baghdad's central bank and flown to Lebanon. Its whereabouts was unknown. In 2007, Afghanistan's Kabul government was reported planning war against its illegal opium trade with an attack on 55,000 acres of ripening poppies in a leading drug-producing province. In 2008, stock markets around the world fell sharply amid fears the United States was headed for recession. Also in 2008, 20 miners were killed in an explosion at a reportedly unsafe coal mine in China's northern Shanxi Province. In 2009, Sen. Hillary Clinton of New York, who lost a tough fight against Barack Obama for the Democratic presidential nomination, won near unanimous Senate confirmation as secretary of state. Also in 2009, with the election out of the way, Democrats chose their new party leader, Virginia Gov. Tim Kaine, succeeding former Vermont Gov. Howard Dean. A thought for the day: Martin Luther King Jr. said, "Nothing in the world is more dangerous than sincere ignorance and conscientious stupidity." Five Filters featured article: Chilcot Inquiry. Available tools: PDF Newspaper, Full Text RSS, Term Extraction. |
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