Business News

Troops’ A/C Costs $20.2B— More Than NASA

Which would you rather have: a space program or cool army tents in the Mideast? The US military spends $20.2 billion annually on air conditioning for tents in Iraq and Afghanistan—an amount that NPR notes tops NASAs entire budget, all damages BP has paid for the Gulf oil spill, and what the G-8 has pledged for new democracies in Egypt and Tunisia.

“When you consider the cost to deliver the fuel to some of the most isolated places in the world—escorting, command and control, medevac support—when you throw all that infrastructure in, were talking over $20 billion,” says a former chief logistician for the army. In addition to the financial cost of transporting fuel more than 800 miles to outposts in Afghanistan, the practice has huge human cost—the expert estimates more than 1,000 troops have died in fuel convoys. He says the solution could be as simple as better tent insulation. “A simp

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Briefly: Lehman plan gets creditor support

Lehman Brothers, which filed for bankruptcy at the height of the financial crisis in 2008, said Friday that creditors holding claims of $100 billion have approved its payment plan. Alternative plans will be put on hold while Lehman moves its proposal forward.

The plan still must be approved by a majority of creditors and the federal bankruptcy court.

Lehman Brothers Holdings Inc. also has settled derivative claims with seven of the 13 largest banks.

Consortium buys Nortel patents

Bankrupt Canadian tel group Nortel Networks Corp. on Friday said it is selling all of its remaining patents and patent applications to a consortium including Apple, EMC, Ericsson, Microsoft, Research In Motion and Sony for $4.5 billion in cash.

Nortel has been selling its operations piece by piece since it filed for bankruptcy protection in Canada and the U.S.

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FDA Panel: Don’t Use Avastin for Breast Cancer

A special committee of the FDA voted unanimously to recommend revoking approval of the best-selling cancer drug in the world as a treatment for breast cancer. The panel says Avastin is ineffective in treating breast cancer and unsafe, paving the way for the government to remove its endorsement, reports the Wall Street Journal. FDA chief Margaret Hamburg will make the final decision.

“I think we all wanted Avastin to succeed but the reality is that these studies did not bear out that hope,” says a patient representative on the panel. Following the vote, patients in the audience began shouting angrily at the committee. “What do you want us to take?” yelled one woman. “We have nothing else!” If the FDA continues with its withdrawal, drugmaker Roche could lose up to $1 billion in revenue from its top product, notes Reuters. Avastin is approved to treat other cancers, and that would not change no matter what Hamburg decides.

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5 Arkansas Properties Added to Historic Register

LITTLE ROCK – The National Register of Historic Places is adding five properties to its official list of the country’s historically significant locations.

The latest listings announced Wednesday by Arkansas Historic Preservation Program Director Frances McSwain include Saline Cemetery near Wilmar in Drew County and Bethel Cemetery near Denton in Lawrence County.

Other additions are the Keo Commercial District in Lonoke County, Greenwood Gymnasium at Greenwood in Sebastian County and the William P. and Rosa Lee Martin Farm near Marshall in Searcy County.

Bethel Cemetery dates to 1835 and Saline Cemetery to 1878. The Keo Commercial District was established about 1900 and the Martin Farm with agricultural buildings and a wood-frame home was built about 1922.

The Greenwood Gymnasium was built in 1938-39 by the Depression-era Works Progress Administration.


No Tax For Amazon, Associate Members to be Terminated

Amazon has notified its Associate Members in California that it will be terminating its Associate program. This is in response to the State legislatures passing a bill requiring Amazon to collect sales tax. The following is the text of the notice by Amazon to its affiliates in California:

For well over a decade, the Amazon Associates Program has worked with thousands of California residents. Unfortunately, a potential new law that may be signed by Governor Brown compels us to terminate this program for California-based participants. It specifically imposes the collection of taxes from consumers on sales by online retailers – including but not limited to those referred by California-based marketing affiliates like you – even if those retailers have no physical presence in the state.

We oppose this bill because it is unconstitutional and counterproductive. It is supported by big-box retailers, most of which are based outside California, that seek to harm the affiliate advertising programs of their competitors. Sim

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Arkansas Highway Commission Approves $12M for Program

LITTLE ROCK — The Arkansas Highway Commission has approved $12 million in federal funding for 74 projects in the state.

Commission Chairman R. Madison Murphy said Thursday the money is part of the Transportation Enhancement Program.

The Enhancement category of funding was created by Congress in 1991 for non-traditional transportation related projects, such as historic preservation, beautification, pedestrian/bicycle facilities and scenic highway enhancements.

The commission has approved about 360 local enhancement projects statewide totaling more than $55 million since 1993.

Murphy says the local pride that is created by the projects can’t be measured.


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