Amer Al-Hilal Steps Up to the Plate
He eyes the pitcher. He swings the bat! He connects! He hits the ball out of the park!
OK, OK, sometimes I carry an analogy too far. But seeing our fellow blogger Hilaliya: A Kuwait State of Mind on the front page of today’s Arab Times, taking a swat at the recent ban on internet phone services made me feel like dancing.
He encourages all of us to raise the cry against this ban, a ban which is unenforceable (think of all the IT people running around Kuwait who know just how to get around this blockage) and counter to the best interests of the state of Kuwait. As Amer says – Kuwait needs a Minister of Communications who looks toward the FUTURE, and makes policy decisions for the long term good of the state and community, not one who barely comprehends the new technologies and is unwilling to go with the times.
You can’t hold back technology. The genie is out of the bottle. So how can you use the new technologies to better serve the needs of the wealthy state and its inhabitants?
Warning to Egyptians
Please, please, somebody else read this and tell me what it means. From today’s Kuwait Times:
Informed souce at the Ministry of Communications revealed that the closure of websites of companies that offer illegal international telephone call service was successful because the number of international calls from Kuwait and coming to Kuwait from other states increased following their decision.
On the other hand, the Egyptian ambassador to Kuwait Ahmad Abdullah warned Egyptian expatriates in Kuwait against violating the Kuwaiti laws expecially following a number of complaints were filed against Egyptian citizens of cheating residents with providing illegal residence permits and driving licenses. The ambassador asked all Egyptian expats to avoid this kind of illegal actions because the expats who commit such crimes will be deported from Kuwait, reported Al-Qabas.
My comment: Excuse me? How are these two paragraphs even related? How is banning telephone calls successful due to an increase in the banned telephone calls? And for what will Egyptians be deported – using an illegal phone? Providing fake residencies? Fake driver’s licenses? All of the above?
Raise Your Voices
My blogging friend Hilaliya raised HIS voice in an article entitled Kuwait ‘Ministry Of Communications’ Attempts To Extort Internet Users and found an elaborated article on the Ministry of Communication ban. You can read his rant, and go to the Arab Times article by clicking here.
It FEELS Personal
A good friend who is also a psychologist often talked about how things FEEL personal even when they are not.
• When your best friend betrays your deep dark secret to another friend because she lacks self confidence and it made her feel important for a couple seconds
• When your young wife sleeps with your brother because after two babies she wants to feel exciting and attractive and young again
• When your brother uses drugs again, after you paid for rehab and he swore up and down he would never never use again
• When your father divorces your mother and leaves her to raise the kids alone
• When your oldest friend in the world stops returning your calls and communicating with you and you later learn that she if fighting a losing battle with cancer
• When your aging husband buys a small red convertible and turns you in for a younger model, too, because he wants to think he’s hot
• When your internet phone service is declared illegal and gets shut down to spare “government wastage”
In every case above, the situation has more to do with personal issues than with you, but man, it sure FEELS personal. The fact that is doesn’t have to do with you is almost insulting, because the impact can be so painful.
And so it is with internet service. This morning, I was missing internet service for a while. It happens sometimes, but rarely longer than three-four minutes. This time it went on and on. Of course my first reaction is “oh no! Am I being penalized for having written about internet phone service being blocked???” But no, this time it wasn’t all about me. It was just an outage, and – for now – just temporary. Alhamdallah!
But this policy is going to impact on all of us painfully. Please, please raise your voices. You know better than I do where it will be the most effective. It’s important that we be able to communicate with our family and friends in a reasonably priced way. The internet phones don’t hurt anybody. Let’s keep them legal.
Internet Phones Blocked in Kuwait
Watching the news lately, I became more and more uneasy as Indian telephone service providers – evidently clandestine – were raided with frequency and shut down. All these men want is a few minutes chatting with their families, without paying an arm and a leg.
We’re all in the same boat.
In a tiny little article in the Kuwait Times yesterday, they announced that ALL internet calling services would be blocked. Those that are not already blocked soon will be.
I had heard rumblings from friends, phones not working, etc. We all subscribe to Vonage, or Skype, or one of the myriad internet phone services; it’s part of what makes living and working in Kuwait DO-ABLE.
This last year, with my father dying, the phone was my lifeline. Because it has the same area code as my family, my Mom felt free to call me anytime and give me an update on how Dad was doing. When I know we are going back for a visit, I can get on that phone and make dental appointments, schedule a doctor’s appointment, harangue my bank when they have made a mistake.
I don’t even have a private land line into our dwelling. There is a phone, but it goes through the desk where the guard doesn’t really understand English that well. All my calls come through my cell phone . . . OR the internet phone. The price of the service was well worth it in terms of my peace of mind, and my mother’s, and my sisters. Our son feels free to call us when he chooses – it is a Godsend.
The land lines here are notorious. I am outraged. The international call rates are extortionate, and the call quality is horrorific.
When we lived Qatar and the internet phone services were blocked, the major international companies in town all went to their ambassadors and had them formally protest to the government. The ambassadors made the case. And the ban was reversed.
Please. If you are Kuwaiti, use your wasta. If you are a guest-worker here in this country, protest to your Ambassador, and ask her or him to get involved, to take this to the highest levels. This ban on internet phone services hurts the morale of ALL people here in Kuwait who have family in other parts of the world. It makes Kuwait look greedy and mean-spirited, and we all know that is not the true nature of Kuwaitis.
Mortgage Crisis Spirals
(My comment: Belief in promises of “easy” money cause problems all over the world. Eventually, there is always a price to pay. Meanwhile, the current crisis presents buying opportunities to those who have saved and wisely invested.)
Mortgage Crisis Spirals, and Casualties Mount
from today’s New York Times
By JULIE CRESWELL and VIKAS BAJAJ
Published: March 5, 2007
Even in affluent Orange County, Calif., the growing wealth of executives and brokers in the booming mortgage industry was hard to miss.
For Kal Elsayed, a former executive at New Century Financial, a large lender based in Irvine, driving a red convertible Ferrari to work at a company that provided home loans to people with low incomes and weak credit might have appeared ostentatious, he now acknowledges. But, he says, that was nothing compared with the private jets that executives at other companies had.
“You just lost touch with reality after a while because that’s just how people were living,” said Mr. Elsayed, 42, who spent nine years at New Century before leaving to start his own mortgage firm in 2005. “We made so much money you couldn’t believe it. And you didn’t have to do anything. You just had to show up.”
Just as the technology boom of the late 1990s turned twenty-something programmers into dot-com billionaires, and leveraged buyouts a decade earlier turned Wall Street bankers into Masters of the Universe, the explosive growth in subprime lending turned mortgage bankers and brokers into multimillionaires seemingly overnight.
Now an escalating crisis in the market, which seemed to reach a new crescendo late last week, is threatening a wide band of people. Foremost are the poor and minority homeowners who used easy credit to buy houses that are turning out to be too expensive for them now that mortgage rates are going up, but the pain is also being felt widely throughout the business world.
Large companies that bought subprime lenders during the boom, like H&R Block and HSBC, are now scrambling to sell them or scale back their exposure. Many investors are also likely to suffer: Wall Street firms made billions in fees, commissions and trading revenue from packaging and selling subprime mortgages to them as bonds.
New Century has emerged as a poster child for the lenders that rode that boom to the top and are now in free fall. The company disclosed on Friday that federal prosecutors and securities regulators were investigating stock sales and accounting errors. The latter could jeopardize billions of dollars in financing for the company, which issued $39.4 billion in subprime loans in the first nine months of last year.
Weakening home prices and rising default rates have rocked the subprime business. But for those who cashed out before the market turned, the ride up was particularly sweet. The three founders of New Century, for example, together made more than $40.5 million in profits from selling shares in the company from 2004 to 2006, according to an analysis by Thomson Financial. They collected millions of dollars more in dividends, salaries, bonuses and perks.
The company said in a statement yesterday that the founders were “still significant shareholders,” noting that they collectively owned about 7 percent of the company at the end of last year.
New Century’s stock price, which seemed to mirror the trajectory of the subprime business, peaked at nearly $66 a share in December of 2004 and traded in the $40s most of last year; on Friday, it was trading at $11 a share after the market closed. In a series of sales from August to November, two of the company’s founders sold shares for an average price of about $40 a share, for a total profit of $21.4 million.
It is not known whether the stock sales by the founders are among the sales being examined by federal investigators. Some of them had been part of scheduled stock sales that are often used by executives to diversify their portfolios. But some of the sales occurred on the same day that the executives entered the plans. A New Century spokeswoman, Laura Oberhelman, said that executives declined further comment.
You can read the rest of the article by clicking here.
Women in Pakistan
Last but not least from today’s Kuwait Times are two articles from recent news in Pakistan, both involving women and the men who (seem to) own them:
Police Seek Pakistanis Pressing Woman to Hand Over Her Daughter
Karachi: Police are seeking ten men, including several tribal elders, accused of pressuring a Pakistani woman to hand over her teenage daughter as payment for a 16 year old poker debt, officials said yesterday.
In the latest case highlighting how conservative customs threaten women’s rights in Pakistan, Nooran Umrani alleges that despite paying off her late husband’s debt of 10,000 Pakistani rupees, she was threatened with harm if she failed to hand over her daughter, Rasheeda. The 17 year old was to be surrendered as a bride for the son of Lal Haider, the man who won the card game years before, Umrani told reporters . . . Police said yesterday that the mother and daughter were in their protection and that an investigation was opened against Haider, his son, and eight others. . .
Nooran said her husband was a gambler who ran up the debt at a poker game when Rasheeda was 1 year old. He promised Haider that he would get Rasheeda in lieu of payment when she grew up, Nooran said. . . .
President General Pervez Musharraf has vowed to give women more rights in line with his policy to project Pakistan as a moderate, progressive Islamic nation. In December, Musharraf signed into law a bill that makes it easier to prosecute rape cases in the courts, and the country’s ruling party recently introduced a bill to outlaw forced marriages, including under tribal custom in which woman are married off in order to settle disputes.
My comment: The debt was paid. And what was the father thinking?? giving away his daughter to cover his debts? I can’t wrap my mind around it.
Pakistani Sells Wife’s Kidney to Buy Tractor
Karachi: Pakistani police have arrested two men after a village woman complained that her husband and relatives had sold one of her kidneys in order to buy a tractor, police said yesterday. Although her kidney had been removed 18 months earlier, the woman named Safia only learnt it was missing after seeking treatment for a urinary tract problem in January. “She had said she was three months pregnant when her husband, Shakeel Ahmed beat her and then took her to the hospital for treatment,” said Mohammad Akram, duty officer at Noushera Jadeed police station in Punjab province. “But at the hospital, her husband, in connivance with three other people, sold her kidney to buy the tractor,” he said. Unlike many other parts of the world, including neighboring India, there is no law in Pakistan banning the trade in organs. Poverty-ridden Pakistanis living in rural areas sell their kidneys to pay off debts or raise money for their families. Sick but wealthy Pakistanis, and foreigners from the Gulf, Britain and Canada flock to private hospitals in Pakistan for kidney transplants, made possible by these donors.
My comment: Seems his wife is just another revenue-raising resource to Shakeel Ahmed. If asked, she might have even agreed, but it would be nice to be asked, not to discover it 18 months later. The news article says he was arrested. I wonder if he committed a crime under Pakistani law?
Kuwait, al Qaeda Hit List, and Hala February?
Kuwait Times, Monday, February 26, top right front page:
Kuwait on top of Al-Qaeda hit-list
Arab security officials disclosed that a closed door session was held in Iraq between intelligence personnel of a neighboring state and officials of Al-Qaeda in order to execute a threat that was announced by Al-Qaeda recently of attacking Gulf States. The officials warned that Kuwait was on top of their hit-list of states to be attacked, adding that the attack would be executed by Arabs who visit Kuwait with the cooperation of extremist groups existing and operating in Kuwait.
The attackers, they said, would target pivotal and sensitive installations as well as international institutions in Kuwait. Al-Rai daily questioned a senior official on the alleged threat, who confirmed that they had received it, adding that Kuwaiti authorities always take any intelligence reports seriously. He said that the authorities had already executed all security actions to be taken during the last few days in coordination with allied states in addition to scrutinising all visitors arriving in Kuwait.
My comments: Top front page and atrocious reporting.
1. What Arab security officials? Just give us a clue – like from what country?
2. Intelligence personnel of a state neighboring Iraq. . . hmmmm. . . Syria? Iran? Jordan? Kuwait?
3. Which Kuwaiti senior official? From a relevant ministry?
This is supposed to be NEWS. That means there should be verifiable facts. As it stands, it could be just another attack on the bargain hunters at Hala February.
Bureaucrats Joke
A Department of Agriculture representative stopped at a farm and said to the old farmer, “I’m here to inspect your farm.” The old farmer said, “You’d better not go out in that field.”
The Ag representative said in a demanding tone, “I have the authority of the U. S. Government behind me. See this card, I am allowed to go wherever I wish on agricultural land.”
So the old farmer went about his chores. In a few minutes, he heard loud screams and saw the Department of Agriculture rep running for his life, headed for the fence. Close behind, and gaining with every step, was the farmer’s prize bull, nostrils flaring, madder than a full nest of hornets.
The old farmer cupped his hands to his mouth and yelled out, “Show Him Your Card! Show Him Your Card!”
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