Terrorism In Mumbai: Taj Mahal Hotel Siege Over

What a heavy price to pay for the deadly terrorist attack in Mumbai! Landmarks were wrecked and at least 195 innocents died in the attacks on the luxury Taj Mahal Palace and Tower, Oberoi-Trident hotels, a Jewish center, railway station and restaurant.

This figure may rise further as Indian commandos combed Taj Mahal Hotel looking for survivors after routing the remaining militants to end a 60-hour siege. The militants appeared to be well trained and “very, very familiar” with the layout of the hotel, an army general said.

Indian prime minister, Manmohan Singh, warned of “a cost” if Pakistan did not act to stop its territory being used as a launchpad for Islamist militant attacks.

Pakistani president, Asif Ali Zardari, has been quick to distance himself from the Mumbai terrorism. He condemned the attacks and his country’s foreign minister, Shah Mehmood Qureshi, promised full cooperation, telling reporters in New Delhi: “We are not responsible for this, nor is it in our interest to get involved in something like this.”

A terrorist’s primary objective is to create fear (read more about Why Terrorism Works). Every nation should do their part to stop this fear from taking root. Unfortunately, to stamp out terrorism entirely is not easy. Terrorist organizations will continue to flourish as long as there are ignorant, unhappy, and impoverished people nursing grudges against rich and powerful nations.

The possibility of nations going to extremes to counter terrorism by turning into police states or even waging nuclear war is real. However, I hope that day never comes.

Fundamentalists who try to force their values on others are actually engaging in some form of “imperialism.” Innocent lives should never be endangered in the pursuit of any cause.

Is it too much of a hope that one day, we can live in a world where equality and justice prevail and every individual have his or her voice heard without needing a gun or bomb to get attention?

Beyonce Shiny Robot Gloves

Are you fascinated by the shiny robot glove on Beyonce? It is actually handcrafted by Beyoncé’s longtime jeweler, New York-based Lorraine Schwartz. Despite rumors that the piece was fashioned of pure gold (in the mold of legendary Elven forges at Rivendell), it is actually made of titanium!

It’s also one of a kind and therefore close to priceless. Here are some other interesting facts on Beyonce’s glove:

• The glove was Beyonce’s concept and Schwartz worked 24/7 day and night to complete it.

• It fits literally like a glove. Beyoncé’s entire upper arm was cast in wax so that the titanium piece would wrap perfectly.

• There are several pieces, including a ring, a glove and a separate component that covers the upper arm. It can be worn all together or separately.

• It looks heavier than it is. Titanium is about 45 percent lighter than steel.

Beyoncé has elaborated on her stage persona, Sasha Fierce in a recent interview. She said, “When I’m onstage I’m aggressive and strong and not afraid of my sexuality. The tone of my voice gets different, and I’m fearless. I’m just a different person.

The 27 year old singer is now making the alter ego more prominent than ever. Her 17-track double-disco album, which was released in the UK last week, has already entered the Japanese International Album Chart at number one following an earlier release date.

Invest Only What You Can Afford To Lose

Every day we open up the newspapers, we are hit by depressing news – what with retrenchments (DBS axes 900, NOL ships out 1000, Citigroup eliminates 52000 worldwide, etc) and pay cuts (Temasek staff and Cabinet ministers). Taken together, the “contributions” from DBS and NOL are close to surpassing the retrenchment figures for third quarter.

Read the full article here.

Oprah’s Favorite Things Are Now Recession Friendly

For years, Oprah has been giving away thousands of dollars in merchandise to Oprah’s audience members. It is common to get tickets to Oprah, fridge, TV, kindle, sometimes a car – all her favorite things.

Well, what did Oprah’s fans get this year? “Recession gifts,” or ideas for homemade knick-knacks! Can you imagine it? You think you’ve hit the lottery, and instead you get a book-club book and a free Christmas music download.

Oprah’s Favorite Things in 2008 ended up as stuff which can be bought at the dollar store! The recession friendly theme couldn’t have come at a worse time as pay cuts and shrinking assets have caused hardships for many of her fans. They could surely do with a new fridge and TV in their household this year.

I doubt recession has hit so hard for Oprah that she can no longer afford luxury goods. After all, the gifts in 2002 and 2003 were stupendous given that they were recession years.

Maybe Oprah is just preparing the ground for sacrifices when Obama is sworn in as President. The rich are going to contribute the most in his future economic policies since taxpayers had already been burdened heavily to save the bigwigs.

Teen Commit Suicide On Live Web Cam

How terrible that a college student committed suicide with possibly thousands watching the sick act.

The teen, Abraham Biggs, took a drug overdose in front of a live webcam as some users encouraged him, others tried to talk him out of it, and another messaged OMG in horror when it became clear it was no joke. The police were called into action but by then, the teen was dead.

This drawn-out drama — and the reaction of those watching — was seen as an extreme example of young people’s penchant for sharing intimate details about themselves over the Internet.

Read the full article here.

One Way Traffic: Dow Plunges Below 8000

It is one way traffic: Dow Jones plunged below 8000, a first since 2003. There was a bear rally on Tuesday but it is a folly to be tempted by profits in all these technical rebounds. For those who are drawn in and end up selling in a panic, you risk doubling your losses. You are doing just fine having the bulk of your money in the bank. If you want to go long (very long), then just nibble at the stocks.

Read the fulll article here.

Citigroup Layoffs 10000 Employees

The tangible effects of recession has hit home. According to the Wall Street Journal, Citigroup will begin distributing 10,000 pink slips to its employees (not only in the United States, but worldwide). The large scale Citigroup layoffs underscore that it is not just Americans who are suffering from large scale job losses.

I am not surprised with these layoffs as troubles rocking the financial sector have not ended yet. After the mortgage mess, financial institutions still need to purge their credit card and auto loans as part of the deleveraging process and it will be a while before we see healthy balance sheets.

The economy is also in a recession with lower consumption and production, so banks can expect lower interest earnings.

For those who are not employees of Citigroup, you may be less perturbed by the retrenchments. However, if you are a Citigroup credit card holder, you have to beware that your credit card interest rate may take a hike.

Up to 20% of Citigroup customers could face a rate hike of up to 3 percentage points. I think it is really poor timing for retailers as these people may just need to use credit cards for gift buying during the upcoming holiday season. Now they could change their mind with the rate hike.

Jennifer Hudson Thanks Fans For Support

Oscar-winning actress Jennifer Hudson thanked the public on her MySpace web page for its support following the shooting deaths of her mother, brother and nephew last month.

Hudson’s mother, Darnell Donerson, 57, and her brother Jason Hudson, 29, were found shot to death in Donerson’s Englewood neighborhood home on Oct. 24. Three days later, Hudson’s nephew, 7-year-old Julian King, was also found shot and killed on the West Side in a sport-utility vehicle belonging to Jason Hudson.

“I want to thank each and every one of you for your thoughts and prayers during this difficult time,” Hudson said on her site Thursday. “My sister and I take great comfort and strength from your love and concern.”

Julian’s stepfather, William Balfour, is considered the only known suspect in the slayings, but has not been charged with any crime. Balfour, who was already on parole for a 1999 attempted murder conviction, is currently being held in the Stateville Correctional Center in Crest Hill after his parole was revoked in light of the slayings.

Are You Looking Forward To Black Friday Promos?

Retail sales may be in the gutter, but that doesn’t mean consumers have lost their appetite for a bargain. Example A: Today’s kerfuffle over what looks like a leaked Sam’s Club ad for the Nintendo Wii.

Gadget blog CrunchGear posted Wednesday that the warehouse chain, part of Wal-Mart, will sell the popular videogaming console, along with extra Wiimote and Nunchuk controllers, and games King of Clubs Mini-Golf and Mario Super Sluggers, for $224 the day after Thanksgiving.

Read the full article here.

Spend Our Way Out Of Recession

Recession, recession, everywhere we turn, we are reminded of this dreaded scenario. For those who are still shy to utter the word “recession,” let’s not kid ourselves anymore. The earlier we face up to the truth, the faster we are on the road to economic recovery.

The week actually didn’t start off with a pall. On Monday, the bulls came charging back in Asian and European stock markets. Read the full article here.