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Thursday, January 22, 2009

1/22/09 PRESS RELEASE: XL Insurance Unveils Pollution Insurance for Property Owners and Managers, a New Program for Commercial Real Estate Portfolios


XL Insurance, XL Capital Ltd's (NYSE: XL) global insurance operations, today unveiled Pollution Insurance for Property Owners and Managers, a suite of pollution insurance endorsements and claims and risk management services to help protect the value of commercial real estate (CRE) portfolios in the U.S.


Rich Corbett, head of XL Insurance's Global Environmental unit, said: "Environmental risks are always a big concern in real estate. An environmental incident can severely impact a property's value and interrupt business operations. Fortunately, environmental risk management providers. like XL Insurance, can pool decades of environmental management knowledge into developing a program like the Pollution Insurance for Property Owners and Managers, which takes a sophisticated and proactive environmental risk management approach to CRE portfolios."


The program combines pollution insurance, loss prevention services and dedicated environmental claims handling, Mr. Corbett explained.


"We advise clients on what they can do to prevent an environmental incident. In the event that a pollution incident does occur on any property in the portfolio, a portfolio manager not only has the pollution coverage to pay for clean up, but is supported by dedicated environmental claims professionals to make sure the situation is handled quickly and economically," he said.


Pollution Insurance for Property Owners and Managers provides a consolidated suite of coverage endorsements aimed at managing the environmental liability concerns faced by commercial real estate managers. It was developed to help real estate owners and managers protect their cash flow and property asset values; to satisfy corporate, investor and financier requirements; as well as create an efficient acquisition/divestiture process.


Available with liability limits up to $50 million, the Pollution Insurance for Property Owners and Managers is available with XL Insurance's Pollution and Remediation Legal Liability insurance policy and is underwritten by XL Specialty Insurance Company, Greenwich Insurance Company and Indian Harbor Insurance Company.


About XL Insurance


"XL Insurance" is the global brand used by member insurers of the XL Capital Ltd (NYSE: XL) group of companies. More information about XL Insurance is available at http://www.xlinsurance.com/. Through its operating subsidiaries, XL Capital Ltd is a leading provider of global insurance and reinsurance coverage and services to industrial, commercial and professional service firms, insurance companies, and other enterprises on a worldwide basis. More information about XL Capital Ltd is available at http://www.xlcapital.com/.


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Please send your comments and press releases to GreenwichRoundup@gmail.com

1/22/09 The Greenwich Citizen Has Not Updated Since Friday, But Greenwich Roundup Is Here With The Raw Greenwich News Feed (Updated All Day)

Here Are A Few Greenwich News Stories That Hearst Newspaper Editor Don Harrison Missed At The Geeenwich Citizen ......

IF YOU WANT TO KNOW WHAT"S GOING ON IN GREENWICH READ THE OUT OF TOWN PAPERS

TOP STORY:



Greenwich based Duff Capital Advisors, which once employed as many as 100 people, cut its staff by almost 80% last month, the New York Post reports...



Tough Times for Duff Lead to 80% Job Cuts
New York Post
... hiring a posse of hedge-fund management teams as well as constructing new office space at 100 West Putnam Ave. in Greenwich, Conn., spurring insiders to criticize Duff for having spent too much money before his firm made even a single investment....

Nymex Gas Declines on Reduced Demand for Energy as U.S. Recession Deepens
Bloomberg
... is making it difficult to quantify how far gas use may deteriorate, Tom Orr , research director at Weeden & Co. in Greenwich, Connecticut, said in a telephone interview. Industrial Users Demand from chemical makers and other large consumers of gas ...

$10.6 million will be used for New Haven line signalization upgrade
Stamford Plus Magazine
The $10.6 million to be approved by the Bond Commission will cover signal work on the line in Greenwich, from the New York state line. ...

Madison Man Admits to Fraud Scheme
TheDay, CT
Documents filed with the court and statements made in court show that in late 2002 Safdie approached Acorn Capital, a Greenwich-based assets lending firm, ...

Port Chester residents critique plan for village growth
The Journal News
... to the plan before approving it. "We must remember we are a unique community," she said. "We are not Rye or Greenwich or White Plains. We are who we are. The comprehensive plan was built around what the people of Port Chester want and need." ...



Boys hoop: Warriors struggle in rough FCIAC
Wilton Bulletin
... leaving the Warriors with a 2-8 record with 10 games left — and powers like Trinity Catholic, Bridgeport Central, St. Joseph, Greenwich and Staples, ...

Business Briefs - Jan. 22
Jackson County Pilot
... facilities in Arlington, Texas, and had expanded beyond its current capacity. Farleya s and Sathers is owned by Greenwich, Conn.-based Catterton Partners. The company has sales of more than $600 million following a series of acquisitions in recent ...

Apple Pops, Volatility Drops
Forbes, NY
Andrew Wilkinson is senior market analyst at Greenwich, Conn., based Interactive Brokers. Reach him via e-mail: ibanalyst@interactivebrokers.com .

Lady Wreckers stay on a roll, beat Cards
Westport News
... falls on the balance beam and many of its gymnasts had personal bests Monday in its 134.85-127.55 road win over Greenwich High at the Greenwich YWCA and raised its record to 4-0. The Lady Cardinals dropped to 2-2. "We did outstanding on beam and ...

Boys swimming: Wilton evens record with win over Trumbull
Wilton Bulletin
The Warriors were coming off a 132-48 loss to conference and state power Greenwich last week. Ross Gormley, Dan Mangan and John Craig all won two individual ...

Toyoda Said to Plan Replacement of Most of Toyota's Top-Level Management
Bloomberg.com - Asia
... to let Akio bring in new people,'' said Maryann Keller , an independent auto analyst and consultant in Greenwich, Connecticut. ``A new CEO wants to put together his own team.'' Keller, a Toyoda family acquaintance, said she hasn't discussed the ...

Skiing: Greenwich deals RHS teams rare double loss
Ridgefield Press
But any way you look at it, the Ridgefield High ski teams were jolted by a rare double loss to Greenwich in biting cold conditions at Mount Southington last ...

Injuries to Ankle, Knee and Shoulder Face Recreational Football Players
PRESS RELEASE PRWeb
... MD, MS, FACS, FAAOS, a leading orthopaedic surgeon and sports medicine expert with offices in Manhattan and Greenwich, Conn., specializes in helping football players of all levels to avoid damage, reduce the number of injuries and improve the ...

Dartmouth Hockey Ties In Worcester
WMUR-TV Manchester
... Andrew Owsiak (Moose Jaw, Sask.) at 7:33, firing over netminder Adam Roy's shoulder for the 1-0 lead. Peter Boldt (Greenwich, Conn.) also assisted. Dartmouth had some penalty trouble in the early goings but its penalty killing unit was up to task as ...

News > Unternehmensnachrichten > Ocean Tomo Releases Catalogue for ...
Ad-Hoc-News (Pressemitteilung), Germany
Headquartered in Chicago, Ocean Tomo has offices in Greenwich, San Francisco, Palm Beach, Orange County and Washington DC. Subsidiaries of Ocean Tomo ...

THE WEALTH REPORT
Wall Street Journal Blogs
Remember that proposed Greenwich, Conn., mansion with 26 toilets? Well its Russian owner, rejected by town planners on the first plan, downsized the home ...

Local Towns Attack Water Supply Issue
New Canaan News Review
The "back country" of Greenwich does not have a municipal water supply for fires, so the town has set up initiatives to build dry hydrants on public and ...



ECONOMIC REPORT Housing starts plunge to another record low
MarketWatch
... shockwave felt in the fall has clearly brought the housing industry to its knees," wrote Stephen Stanley, chief economist for RBS Greenwich Capital. ...



This Weekend
Bridgeport News
More than 40 masterpieces of modern sculpture, drawn from local collections in Greenwich and its environs, will go on exhibit Saturday, Jan. ...

Greenwich swimmers dunk New Canaan
Stamford Advocate
By David Fierro
Greenwich High School's Eric Minowitz swims to a first-place finish in the 500-yard freestyle during Wednesday's meet against New Canaan. ...



SWRPA outlines 2009 priorities
DarienNews-Review
One of 15 regional planning agencies in Connecticut, SWRPA provides regional planning services to the cities of Norwalk, Stamford, Darien, Greenwich ...



'Free and appropriate'
DarienNews-Review
...Special Education Attorney David Shaw said that the state has made it more cost-neutral for schools to out-place a student at a another public facility, whereas it used to be even more cost-effective for the schools. Shaw was the leading prosecutor in P.J. et al vs. the State Board of Education, a landmark Connecticut case dealing with the inclusion of children with intellectual disabilities....

....He said that when children are sent to "segregated schools," they rarely return to their home school district. "It is pretty much a one-way street, especially for children with severe disabilities.".....

... they can place the child in a private educational facility, such as Eagle Hill in Greenwich, Benhaven or Cedarhurst in Hamden, or High Road School of Norwalk, among many other private special education facilities in the state. ...

AllShows.com Named the Primary Ticket Seller for the Heirloom Arts ...
MSNBC
GREENWICH, CT - In yet another partnership developed to provide New York tri-state area consumers with unique entertainment experiences, AllShows.com today ...

Sure we're in bad times, but chin up, we are still Americans
Stamford Advocate
... adds still a lot more to the glass. Greenwich resident Carla Wallach is an author who has written numerous articles in national publications.....

Suzette Smith: From Hedges to the Heights
Shelter Island Reporter, NY
... Stars in the Heights, was born in Chingola, Zambia (a grandfather was CEO of a mineral company) but grew up in Old Greenwich and Milford, Connecticut. ...

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Please send your comments to GreenwichRoundup@gmail.com

1/22/09 Greenwich Time News Links

The swearing in of President Barack Obama received a standing ovation at Town Hall, including, from front left, Barbara Fortunato, Roy Carey, Gracie Smith, Monique Christie and Pat Maranan. — Ken Borsuk photo



Tuesday was a day of celebration in Greenwich as people of all ages, colors and political viewpoints came together to mark the inauguration of President Barack Obama.




Just days away from presenting the municipal budget to the town, First Selectman Peter Tesei repeated that job cuts in town departments could sadly become necessary.


Mr. Tesei’s presentation, which is officially to the Board of Estimate and Taxation (BET), but the public is invited to attend, is set for 6 p.m. Monday night in the Town Hall Meeting Room. In an interview with the Post on Tuesday, Mr. Tesei said despite the best efforts of town departments to curtail expenditures, the job cuts could still be looming. However it is too early to tell how many there will be, if any, and it won’t be determined until the BET starts working on it and more finite numbers become available.


Mr. Tesei first brought up the prospect of the job cuts at the Jan. 14 Board of Selectmen meeting as something the town was looking at, but not necessarily something inevitable. He said he would not be looking for cuts in the police or fire department or at The Nathaniel Witherell.


“It is certainly not something we take lightly,” Mr. Tesei said at the meeting. “We have approximately 1,020 town employees and we’re focused on that area. If you exempt Witherell and you exempt fire and police, you lower your base to reduce from but we’re looking at somewhere in the neighborhood of 70 positions, just to put it out there as of today. It could change. It could be less.”


On Tuesday, Mr. Tesei told the Post town departments had submitted their operating budgets, including contractually mandated salary increases, with a 1% increase compared to last year. Mr. Tesei praised town department heads and the Board of Education for reducing non-salaried costs to make that possible, but despite that, the town is still facing having to raise the mill rate beyond the annual 3.5% growth the BET has called for to meet costs.....


.....When asked if he would be willing to simply raise the mill rate beyond 3.5%, Mr. Tesei said he wasn’t.


“In good times we held it to 3.5% at the time when we were addressing many of our capital needs but the reality is people are not in a position to pay more today,” Mr. Tesei told the Post. “I believe I was elected, quite candidly, with a mandate in terms of the vote and one of the things that I said I would do is have modest and predictable tax increases.”




Greenwich could be on the verge of finding a greener way to clean up after the introduction of a new policy requiring the use of more environmentally friendly cleaning and sanitizing products.


The policy, which is being considered by the Board of Selectmen, was put together by members of the Environmental Task Force. It requires that no cleaning product may be used inside a town building unless it has received the certification of Green Seal Certified or EcoLogo. This includes disinfectants, disinfecting cleaners, sanitizers and any antimicrobial products regulated by the Federal Insecticide, Fungicide and Rodenticide Act.


If the new policy is implemented, any existing cleaning supplies would be used until empty and then replaced by the environmentally friendly products. Companies that have cleaning contracts with the town would also have to use the green products.


The state of Connecticut already has a similar policy in place for cleaning in all of its buildings.


Elizabeth Bittner, a task force member and co-chairwoman of its cleaning products committee, presented the resolution to the board at its Jan. 14 meeting.


Before developing the proposal, committee members spoke with the town’s purchasing department and the various town departments, such as public works, parks and recreation and the Board of Education that use cleaning products, to solicit their ideas and feedback. Ms. Bittner said that everyone the committee met with “seemed receptive” to the idea of making the change and some have already started to consider the more environmentally safe products......




Despite a last minute attempt to postpone the decision until March, the Representative Town Meeting (RTM) voted overwhelmingly Tuesday night to provide more tax relief to eligible town seniors.


By a 153 to 4 vote, with three abstentions, the RTM approved a resolution allowing more seniors to be covered by the town’s existing tax relief program. Previously, seniors with a total income of no more than $39,000 were covered, but the new resolution will cover eligible seniors earning up to $60,000 a year, and will provide more money for those in lower tax brackets.


The motion to postpone consideration of the resolution was offered by District 12 member Michael Petrucelli. It was shot down by a voice vote.


Mr. Petrucelli, chairman of the RTM’s budget overview committee, said waiting until March would allow a court to first hear the appeals from North Mianus residents challenging sewer assessments. Those residents have not paid property taxes to the town because of the case.
Town Assessor Ted Gwartney said timing was a major issue with the changes because his department has a state mandated Feb. 1 deadline by which to issue notices to potentially eligible residents.


Before a vote was taken, a sunset clause was added to the resolution by the RTM’s legislative and rules committee, and approved by the full body, 150 to 19, with two abstentions. The resolution will come up for consideration again in 2013




With 1,500 schools, 136,000 employees and 1.1 million students under his direction, one would think that New York City Schools Chancellor Joel Klein wouldn’t have much time to concern himself with other districts’ students.


But last Thursday morning, Mr. Klein was the guest speaker at the Greenwich Alliance for Education’s enterprise council breakfast to discuss educational challenges facing the nation. He said all school systems, including Greenwich, are not serving students well enough and stressed accountability and reform as challenges that must be quickly tackled.


“We are not remotely demanding enough of ourselves in education at every level of the system, from our best schools to our most challenged schools,” Mr. Klein said during his remarks at the breakfast. “We need to take our game up more than a notch.”


Mr. Klein said for years people have been talking about all the things that should be done, including better curriculum, more pre-kindergarten education and more after-school help, but things aren’t being done because of “sacred cow” reasons. Mr. Klein said in the last 25 years real dollar spending on education had doubled, but achievement remains flat.




Making way for a hotel fitting the “mid-range family niche,” according to attorney John Tesei, the Planning and Zoning Commission unanimously approved plans last Thursday to demolish the former Howard Johnson Hotel in Riverside and build anew. While all members seemed accepting of the idea, the main hiccup prior to approval centered on the number of seats available in the restaurant and meeting room areas.


The new hotel will include 86 rooms at little more than 56,000 total square feet, down from 106 rooms and 48,513 square feet as a Howard Johnson. The plan also includes a restaurant with seasonal outdoor dining.


Blue Smoke, operated by Union Square Hospitality Group, is slated to open in the new space. The restaurant also has a location in New York City. As per Planning and Zoning Commission members’ request, seating in the indoor restaurant/bar, outdoor space, banquet area and board room will amount to no more than 342 seats.


“We’d like to get started for all the right reasons,” Mr. Tesei told commission members last week.


The owners of the new hotel also run the Delamar Greenwich Harbor hotel in Greenwich. Charles Mallory, general partner of the Delamar and founder of its operating company, told the Post last summer that the new hotel will “have a very different price point and less service” than the Delamar.




The town is proposing $20.5 million in capital projects in 2009-10, the bulk of which is slated for infrastructure repairs and construction.


“This year takes on an added challenge,” First Selectman Peter Tesei said at a public hearing last week, referring to the strained economy.


Mr. Tesei said the focus of this year’s proposed capital plan is on maintenance, completion of projects already started and items that are part of an overall plan.


Money for the remediation of the Cos Cob power plant site (a plan currently under review by the Planning and Zoning Commission), the town’s storm water master plan, a King Street fire station and roof replacement at the Old Greenwich-Riverside Community Center is included in the plan, among other items.


Citizens speaking out at last Wednesday’s public hearing — the second on the capital plan — suggested doing more for the drainage issues in town and turning to long-term debt through bonding to pay for some of the town’s projects. That is a departure from past practice of “pay as you go.”


“It’s not the time to spike the mill rate. It’s certainly not the time to add further burden,” Mr. Tesei said.


With a budget shortfall in the current year to be about $10 million, Mr. Tesei said, “we’ll have to find ways to cut back.” He said that the shortfall is due to the loss of income from the conveyance tax (due to lower sales of property), fewer building permits and applications, and losses due to “paltry” interest rates......

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Please send your comments to GreenwichRoundup@gmail.com

1/22/08 The Raw Greenwich Blog And RSS Feed


Bloggers Who Are From, Work In Or Used To Live In Greenwich.....

Greenwich Library Today's Events
Friends Monthly Mailing - *When:* Thursday January 22nd, 2009 - 09:00 AM *Where:* Greenwich Library at Cole Auditorium monthly mailing

The New And Improved "For What It's Worth" (Wordpress Edition)
Uh oh! - China’s 4th quarter growth drops to just 6.8%. I don’t have the exact figure off the top of my head but I recently read an interview with a Chinese officia...

Greenwich Forum
A moment in history in Greenwich - Greenwich Time - 3 Comments, last updated on Wednesday Jan 21 by Upside-down Cucumber

Greenwich News
BRIEF: Wildwood Casino restructures its finances - Jan. 21--The Wildwood Casino in Cripple Creek has restructured its finances, including a new investment from Plainfield Asset Management of Greenwich, Co...

Saramerica
Renewing our commitment to our ideals - I haven't blogged about politics here since election day, but now, with the eight year nightmare of the Bush era finally behind us, I'm inspired to start ...

Frank Trotta's Page At Our Greenwich
A (An?) Historic Event - I’ve been invited to five Presidential Inaugurations, but have never been to one – too much glitz for my tastes. Generally, I have tried to ignore this qua...

Jane Genova: Speechwriter - Ghostwriter
Unanswered Question as to Why: Caroline flunks PR 101 - Is it typical Kennedy arrogance? Or is Caroline simply a victim of inept public relations advice? Whatever. Her already tarnished brandname just took another...

Greenwich Diva
Caroline Kennedy planned to withdraw from consideration for the Senate seat being vacated by Hillary Clinton - From MSNBC LBANY, New York - Caroline Kennedy planned to withdraw from consideration for the Senate seat being vacated by Hillary Clinton, The New York Times...

Exit 55 By Rob "WGCH" Adams - The Sports Voice Of Greenwich
Gerry Rafferty - Missing? - I just stumbled upon this one. Gerry Rafferty, the 70's musician whose most famous song, "Baker Street", is iconic, is missing. At least he appears to be. ...

The Fox Trot By Nick "The Sly" Fox
ECW Results! Plus HUGE Wrestlemania 25 Rumor! - Dark Match: * Dolph Ziggler b. Jamie Noble - Dolph Ziggler got the win via pinfall. Solid dark match to get the crowd going. * ECW begins with Todd Grisha...

The Blonde Excuse
Shocking - Apparently real jobs are nothing like "The Office." -Lauren...

EDDIE "Greenwich Native" ROSS
Check Out Teen Times! - When I was in school, home economics played such a huge part in my career path. It helped open my eyes to a whole world of activities I loved and the confide...
John Ferris Robben - T-shirt Philosophy Page At Our Greenwich
President Obama on TV in Greenwich at Town Hall and Greenwich Library - Selectman Peter Crumbine with Peter Tesei at the Town Hall Meeting Room today. Peter Tesei received an email from Marge Robben last week which ...

Rock Star Diary
Ski trip to VT - I went to cousin Anthony's Okemo ski house for the weekend and all I have is pictures of the lousy dogs! Ha! Jenna Bush brought lots of star power: And Antho...

Sarah Darer Littman - Politics Above the Parapet At Our Greenwich
A new day - I woke up this morning to a snow covered landscape; the kind where everything seems new and fresh and even the ugly is temporarily made beautiful. And so i...
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Wednesday, January 21, 2009

01/21/08 Is Bruce "Low Tech" Hunter Letting His Hard Disk Go Floppy? Hearst Newspapers Should Delete A Managing Editor Who Ignores Online Readers


THE WORLD WIDE WHAT ????


OLD STYLE NEWSPAPER MAN DOESN'T UNDERSTAND THIS NEW FANGLED INTERNET THING -A- MA-JIG !!!


Town mocks managing editor as computer illiterate


""Things have changed in the last 26 years, but Bruce Hunter hasn't."


Give Hunter an out-of-style suit, a disco ball, a clunky phone, an outdated computer and a Rubik's Cube and he he is a happy camper


Our economy wouldn't survive without the Internet, and the cyber-world continues to represent the only hope of saving the Greenwich Time from becoming extinct


It's extraordinary that someone who is a Hearst Newspaper managing editor doesn't know how to update the the online opinion pages


The mystery surrounding Greenwich Time's missing online editors deepened yesterday as Managing Editor Bruce Hunter was rumored not even have visited the Green Kitty Litter Liner's newsroom yesterday.

"It's bizarre," said one insider, who was left wondering who's in charge during today's online coverage of the history-making inauguration of Barack Obama as president.

Added another insider, "If any of the Greenwich Time or Stamford Advocate online editors know what's going on, they're not telling anyone."

Hunter, a Hearst Newspaper Managing Editor may have appeared at the Greenwich Time's Riverside newsroom office today, but the online editorial pages were not updated for the fifth day in a row.

The lack of online editorial updates is fueling speculation that Greenwich Time Publisher John Dunster might be looking for a new editorial leader for the local rag.

Hearst Newspaper's struggling Greenwich Time has went through four men who have acted as editor in chief in the last year.

"He's here, but he's in a meeting," said a lady answering the Greenwich Time's phone.

Bruce Hunter did not return a call seeking comment. An Greenwich Time employee answering the phone refused to identify herself and declined to comment about why the online editorial pages have not been update since a Stamford Advocate editorial was posted on Friday January 16th.

Yesterday, Greenwich Roundup, broke the exclusive story that Managing Editor was fueling week old rumors in town, because he has been unable to update Hearst Newspaper's editorial pages at the Greenwich Time.

A source close to Hunter insisted that he had been in contact with the newsroom by phone to monitor the paper and it's online web site. However, sources inside the paper said Hunter did not call into the newsroom over the weekend as he typically does.

Others say that Hunter was recently seen at the paper heading to a meeting with Publisher John "I Can't Pick A Winning Team" Dunster.

Hunter was recently pulled out of unemployment by Dunster and is currently responsible for overseeing another major downsizing at the paper. However, Hunter is seen as relatively popular with soon to be unemployed newsroom staff.

However, one disgruntled Greenwich Time employee was recently heard to say,"Well, if Bruce is going to stay at the helm, then we had better have a full complement of lifeboats. As bad as the Greenwich Time has been in the past, bringing Hunter back is like getting flushed down the toilet."

A new rumor going around town is that the Greenwich Time online editorial pages have not been updated in a week is because Bruce Hunter is feuding with Hearst Newspapers and John Dunster about what should be contained in online editorials.

No matter which rumor is or is not true one thing for sure is that chaos is reigning on the Greenwich Time Editorial pages under Bruce Hunter. Once again today the week old Stamford Advocate editorial about Mexican drugs is at the top of the Hearst Newspaper's editorial page.

Opinion

Odds poor in fighting Mexico's drug woes

The Advocate Staff
Posted: 01/16/2009 09:05:46 AM EST

Before you venture into Ciudad Juarez, brace yourself to hear Texans tell you that you're crazy. Visiting friends in neighboring El Paso a few days before Christmas, I was immediately warned, "Don't even think about going into Juarez.

JUST LIKE YESTERDAY AND THE DAY BEFORE AND THE DAY BEFORE THAT AND THE DAY BEFORE THAT AND THE DAY PREVIOUS TO THAT AND THE PRECEDING DAY ......

THE "MISSING" BRUCE HUNTER HAS FAILED TO ACT AS MANAGING EDITOR AND PUBLISH ANY NEW LETTERS TO THE EDITOR ONLINE AT THE GREENWICH TIME FOR A WEEK NOW.

THE GREENWICH TIME 'S ONLINE READERS ARE PERPLEXED AT WHY HUNTER INSISTS ON PUBLISHING THIS LETTER TO THE EDITOR OVER AND OVER, WHILE OTHER LETTERS NEVER SEE THE LIGHT OF DAY AT THE GREENWICH TIME.

Letters from Readers

Letters to the Editor

Hamas' acts have produced the situation in Gaza

The Advocate Staff
Posted: 01/16/2009 09:06:57 AM EST

To the editor:It's like "Alice In Wonderland"! Up is down; left is right. So who is to blame for the present Gaza situation? There are vocal demonstrators insisting Israel is to blame. Let's look at the situation realistically .....





BRUCE OVERBOARD


Where's Bruce Hunter And

The "LOCAL HARD HITTING"

Online Greenwich Time Editorials ????


Online Readers At The Greenwich Time Wonder If

New Managing Editor Bruce Hunter Has Already Been

Thrown Overboard By Hearst Newspapers.


Just when you thought things couldn't get more bizarre at the Greenwich Time....
Chaos reigns at the Greenwich Time, where new Greenwich Time Managing Editor Bruce Hunter and his top two lieutenants have not updated the papers online Opinion pages since last Thursday January 15th - sparking rumors that they me feuding with their corporate owners at Hearst Newspapers.


On Friday January 16th a Stamford Advocate editorial was posted online at the Greenwich Time and it has remained there for the last five days.......



UPDATE:
9:56 AM On 01/22/08


When Greenwich Roundup Types;
The Greenwich Time Listens......





BRUCE HUNTER OR SOMEONE AT THE GREENWICH TIME HAS POSTED A "NEW'' STAMFORD ADVOCATE EDITORIAL TO REPLACE THE WEEK OLD STAMFORD EDITORIAL AT THE GREENWICH TIME


Opinion




Advocate Editorial

Posted: 01/22/2009 07:43:14 AM EST


If majority Democrats in the state General Assembly aren't going to change state law to defer action on arbitrated state employee contracts, then they must take up-or-down votes on the 11 pacts that are expected to come before them during this session. Full Story


THE GREENWICH TIME'S ONLINE READERS STILL ARE ASKING: "Where The Hell Is Greenwich Time Managing Editor Bruce Hunter And The "LOCAL" And "HARD HITTING" Editorial ???????''




GREENWICH ROUNDUP IS STILL ASKING:"When Is Greenwich Time Managing Editor Bruce Hunter Going To Take Down The Week Old Letter To The Stamford Advocate Put Up New Letters To The Greenwich Time Editors.


UPDATE #2




01/22/08


11:22 AM





WHEN GREENWICH ROUNDUP TYPES:

THE GREENWICH TIME LISTENS......









Staff Reports

Posted: 01/22/2009 10:28:27 AM EST








Having just arrived as a freshman legislator in the state Senate at one of the most fiscally challenging times in Connecticut's history, I read with great interest your Jan. 8 editorial, "Get to work cutting state spending." The editorial, in my opinion, provides an excellent blueprint for how the state legislature should approach the immense task of closing its projected budget deficits this year and beyond.




The editorial's central message - that the legislature must first look to cut state spending, carefully negotiate union contracts set to renew on June 30 and avoid any temptation to implement a broad tax increase - is an approach I support and will advocate in the state Senate. Raising taxes would be extremely ill timed and serve only to depress the state's economy and long-term tax revenues.


The state of Connecticut is facing a fiscal crisis unlike any it has ever seen. Since the writing of your Jan. 8 editorial, we have learned that the deficit in the current fiscal year is likely to grow another $900 million or more when we have fully accounted for quarterly estimated income tax payments due Jan. 15. Those revenue shortfalls are likely to result in an $8 billion to $10 billion deficit over the next two years.


There are no quick-fix solutions to this crisis. The only way we are going to overcome this budget crisis and get our local economy moving again is by fundamentally reinventing state government: consolidating government agencies and legislative committees; finding more efficient and cost-effective ways to provide social services; maintaining current tax rates and vastly reducing the size of state government.


This is the opportunity within the challenge we face: By putting aside partisan politics and getting to work together, we have the opportunity to redefine state government and build a prosperous future for the state of Connecticut. There is not a moment to lose.


L. Scott Frantz
Greenwich


The writer is state senator from the 36th District.


STOP THE PRESSES !!!!



WHEN GREENWICH ROUNDUP TYPES:


THE GREENWICH TIME REALLY LISTENS.....


Sixteen Seconds Earlier Managing Editor Bruce Hunter Put Up Another Letter To The Greenwich Time Editor.


No One In Town Can Recall The Last Time The Greenwich Time Put Up Two Online Letter To The Editor Posts In One Day !!!!


Credit is due for protecting us from terrorism








Staff Reports
Posted: 01/22/2009 10:28:11 AM EST


To the editor:


Thank you, President Bush. Thank you, Congressman Shays. For seven years you have kept us safe from another terrorist attack on U.S. soil, saving countless Americans from death and injury.


In the hours, days, weeks and months after the devastating attacks in New York and Virginia, people worldwide expected additional attacks on American soil. Yet there was not a single one.
Whether or not it is high on lists of American priorities in polls today, whether or not it is a central part of a political campaign, whether or not liberal commentators dismiss it with the condescending phrase of "they played the terrorism card," terrorism is the overarching issue of our time.


The Bush record will be debated for decades or more, and history will render a final judgment. But no one can dispute the success our president and our congressman have had because of their relentless determination to protect America. They succeeded wildly beyond expectations anyone had in the fall of 2001. We all owe them a debt of gratitude.


As they succeeded, the Democrats and liberal news media turned on President Bush with a voraciousness against a president not seen since the attacks on Abraham Lincoln. Yet they too live in relative normalcy today because of the safety Mr. Bush's and Mr. Shays' policies have provided.


As they leave office, President Bush and Congressman Shays should be rightly proud of their success and the apparatus they have left in place to protect America. It is now up to Mr. Obama and Mr. Himes to use that apparatus effectively. All Americans hope that they will have the same relentless determination as Mr. Shays and Mr. Bush.


If they succeed, they will be rightly praised. If they fail they must be held accountable.


Edward D. Dadakis
Greenwich



IT LOOKS LIKE ED HAD A LITTLE TOO MUCH NEO-CONSERVATIVE KOOL-AID OVER AT RUPERT MURDOCK'S FOX NEWS CHANNEL



FOR THE CONTER POINT WE GO TO COMEDY CENTRAL, BECAUSE THE LAST EIGHT YEARS HAVE BEEN A JOKE......



January 15, 2009: President Bush Kept Us Safe












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1/21/09 The Latest Press Releases From The Greenwich Post

'Grease' is the word Friday and Saturday

Pink ladies and T-Birds surround Danny Zuko and Sandy Olsson, played by eighth graders Andrew Aguirre and Sabrina Piersol, in a dress rehearsal of Western Middle School’s musical ‘Grease.’ The students will perform Grease this weekend, Friday and Saturday, Jan. 23 and 24, at 7:30 p.m. in the school’s auditorium. Snow dates are Jan. 30 and 31. The musical, by Jim Jacobs and Warren Casey, calls for 100 students in the cast and stage crew. They have been rehearsing for the upcoming production since November, under the direction of Western Middle School teachers Luanne LaRose, director and producer; Luz Casado, assistant director; Maria Davis, musical director; and parent volunteer Sue Mendogni, choreography. Tickets are $11 each. For more information and tickets, call 531-5700.


The middle school council of Save the Children has planned a fund-raising event for students in grades six through eight. “Fiesta for El Salvador” will take place on Saturday, Jan. 31, from 6 to 8 p.m. at the Boys and Girls Club of Greenwich.

Proceeds from the night will benefit early childhood education in El Salvador.
The evening will include a DJ, dancing, karaoke and pizza donated by Planet Pizza in Greenwich. Individual tickets may be purchased at the door for $10.

For additional information, e-mail Dana Courtenay at

dana17@optonline.net

lstein05@gmail.com.


The high honors continue to pile up for ARCH School science and electives teacher Anthony Mullen.

After being named one of Greenwich’s Distinguished Teachers last spring, Mr. Mullen was named Connecticut’s teacher of the year last November. Now the former New York City homicide detective-turned-teacher has been named one of four semi-finalists for the National Teacher of the Year.


State Rep. Alfred Camillo Jr. toured the Connecticut Resources Recovery Authority (CRRA)’s Single Stream Facility in Hartford last week, calling the technology “the way of the future.”

Single-stream recycling is the process in which paper and cardboard may be mixed with bottles and cans in a single recycling bin. Since single-stream recycling permits collection using 64-gallon wheeled barrels rather than the 14-gallon bins currently in use, people may now recycle more material.

Previously, all recyclables delivered to CRRA had to be separated, with newspaper, junk mail, cardboard and other paper products brought to one portion of the facility, and bottles, cans, jars and other containers brought to another portion.

CRRA sells recyclables to companies on the open market and those companies then turn them into new product. The Hartford facility is taking single-stream deliveries from 59 cities and towns, with qualifying municipalities receiving rebates.

“It makes it much easier for citizens to participate, incorporates more materials and has proven to be a huge success in the places it has been implemented around the nation,” Mr. Camillo said of single stream recycling. “If protecting the environment as well as becoming more financially efficient are the goals we are striving for, this concept is a winner.”

“While we are in dire economic times, the $6 million needed to retrofit the Bridgeport facility is an expenditure that will pay big dividends down the road,” he added. “We need to find that money at some point to allow us to go to the next level in recycling.”


Nationally known school psychologist and adolescent counselor Stephen Wallace will speak to parents on Wednesday, Jan. 28, at 7 p.m. in the Lennie and John de Csepel Theater at Convent of the Sacred Heart.

Sponsored by the Parents’ Association, the event is free and open to the parents from other schools.

For more information, call Jennifer Keller at 532-3115.

Mr. Wallace, who is the author of Reality Gap, is chairman and chief executive officer of Students Against Destructive Decisions (SADD). SADD is a national organization, which consists of nearly 10,000 middle school, high school and college chapters across the country. His book paints a portrait of a modern-day adolescence filled with potentially deadly behaviors carefully hidden from the view of parents and other adults. But it is also a book about hope and inspiration, pointing to the powerful role that parents and other mentors can play in the lives of young people and highlighting the tremendous contributions that many teens are making to their families, schools and communities.

Mr. Wallace has broad experience as a school psychologist and adolescent counselor and has held positions in educational and clinical settings. He is the director of counseling and counselor training at the Cape Cod Sea Camps Inc., a senior consultant at ML Strategies Inc., the principal of Summit Communications Management Corporation and the Summit Foundation for Teen Leadership Inc., and an adjunct professor of psychology at Mount Ida College in Newton, Mass.


Tony Campolo, a nationally known pastor, sociologist, social activist, author and commentator, will discuss “Faith and the Future of the Church” at a brunch Saturday, Jan. 24, from 10 to noon at Second Congregational Church, at 139 East Putnam Ave.

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1/21/09 STAMFORD ADVOCATE: Investment firm investigated for Madoff ties

Investment firm investigated for Madoff ties


The Advocate Staff
Posted: 01/21/2009 07:02:02 PM EST






The Seattle-based law firm Keller Rohrback is investigating Fairfield Greenwich Group and several other money managers who invested funds with Bernard L. Madoff Investment Securities LLC on behalf of investors who lost millions in the $50 billion Ponzi scheme.



Fairfield Greenwich Group, a fund of funds manager with an office at 2 Soundview Drive in Greenwich, the hometown of founder Walter Noel, had $7.5 billion of its $14.1 billion in assets invested with Madoff in its Sentry Fund as of November.



Fairfield Greenwich Group, which was founded in 1983, declined to comment.



Other firms being investigated by Keller Rohrback include MassMutual's Tremont Group Holdings Inc., Rye Investment Management and Oppenheimer Funds. Access International Advisors and Maxam Capital Management also are being investigated.



"These intermediaries must be examined", said Mike Warner, a partner with Keller Rohrback.



"They needed to do their due diligence," he said, adding that other firms may be investigated. "I think there's a lot more to be written in this story."



Madoff, 70, was arrested on charges of securities fraud Dec. 11 by the FBI after admitting to the scheme that may have bilked investors out of $50 billion. He is under house arrest in his New York City penthouse.



The day after Madoff's arrest, Fairfield Greenwich Group announced on its Web site that it intends to recover all assets lost in Madoff's pyramid scheme. On Dec. 16, the firm announced on its Web site that it was assessing the extent of possible losses.



"Funds of funds and other money managers that placed money with Madoff should be investigated", said Kurt Schacht, managing director of the CFA Center in New York City.



"That's entirely appropriate," he said. "There's been a major breach of responsibility with these due-diligence experts."





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1/21/09 BLOOMBERG: WALTER NOEL'S VICTIMS MAY BE SAVED BY UNCLE SAM


Walter "Feeder Fund" Noel's Clients May Recoup More Losses Through Taxes Than Law Suits


THAKS A LOT WALLY: Investors In Greenwich Resident Walter Noel's Feeder Fund Are Unlikely To Get SPIC Money,


Customers of Bernard Madoff, accused of bilking his clients in a $50 billion Ponzi scheme, may recover more of their investment losses through tax strategies than by suing Madoff or his bankrupt firm.


“If they invested a lot, then they could possibly recover 40 percent of everything” through U.S. and state tax laws, said Micah Bloomfield, a tax specialist at New York law firm Stroock & Stroock & Lavan LLP.


U.S. tax law allows Madoff’s customers to take income deductions for losses caused by theft if they prove their money was stolen, Bloomfield said. Madoff’s alleged estimate of the size of the fraud didn’t specify if it included principal or how much was lost by charities not subject to taxation.


Madoff, 70, was charged with securities fraud in New York on Dec. 11 after allegedly confessing the crime to federal investigators. So-called Ponzi schemes pay early investors with money from later participants. Madoff faces as much as 20 years in prison, a $5 million fine and forfeiture of his assets. He hasn’t formally responded to the charges or entered a plea.


Madoff lawyer Ira Sorkin declined to comment on the tax consequences of losses linked to his client.


“If an investor loses money to a Ponzi scheme, that can be claimed as a theft loss for tax purposes,” said Martin Shulkin, managing partner of law firm Duane Morris LLP’s Boston office. “The claim should be made for the year you discover the loss, and is subject to a reasonable expectation of recovery.”


Shulkin represents about 30 Madoff investors, most of whom invested directly with Madoff’s brokerage, Bernard L. Madoff Investment Securities LLC. The firm is being liquidated by the Securities Investor Protection Corp., a U.S. agency set up four decades ago to cover losses when brokerages fail.


SIPC Option


Direct customers of Madoff have the option of filing loss claims with SIPC, he said. If they have reasonably determined they are unlikely to recover their loss through a SIPC claim, they may opt to use a theft-loss deduction instead, Shulkin said.


Under the theft-loss provision, eligible victims who don’t file a SIPC claim would have their deductions lowered by the $500,000 cap on SIPC coverage for securities losses, said Bloomfield. Kevin McCue, a spokesman for Irving Picard, the lawyer hired by SIPC to oversee brokerage claims, declined to comment on the tax process.


The Internal Revenue Service has taken the position that the loss from a single occurrence has to exceed $100 and that the total loss has to be more than 10 percent of an individual’s adjusted gross income for the year the deduction is claimed, Bloomfield said.


IRS View


“Under disclosure rules, IRS can’t discuss any specific cases,” the agency said in statement e-mailed by spokeswoman Theresa Branscome.


In the IRS view, someone with an income of $500,000 wouldn’t be able to deduct the first $50,100 in losses. Bloomfield said he disagrees that the $100/10 percent limitation applies to a theft-loss deduction, given amendments to the tax code.


A so-called claim-of-right tax refund is another option for recovering losses in the Madoff scheme, according to Timothy Mulcahy, a tax consultant with accounting firm Holtz Rubenstein Reminick LLP in New York.


The doctrine may allow some Madoff investors to eliminate income tied to Madoff’s investment advisory business from previous tax returns and declare the income-tax paid on those amounts as tax payments for 2008.


The “rarely used” doctrine is more complicated and possibly more rewarding than theft-loss returns, Mulcahy said yesterday in New York at a town-hall style meeting about the alleged fraud.


Good Records


“Every case is going to be different,” Mulcahy said. “To recover as much money as possible, you need very good records” to take advantage of the claim-of-right option. “Hopefully by the end of the year, we’ll have advice from the IRS.”


The IRS may rule this year on whether theft-loss or claim- of-right returns are the proper route for Madoff victims to take, according to Mulcahy.


If the loss from theft is greater than the taxpayer’s income the year the fraud is discovered, it can be carried back three years and forward 20 years to reduce taxable income.


The theft-loss deduction is also an option for people who gave their money to so-called feeder funds, such as hedge fund Fairfield Greenwich Group, that invested with Madoff, Shulkin said.


“We believe it is unlikely that investors in Madoff feeder funds will be successful in recovering SIPC claims,” he said.


Taxpayers may also file amended returns going back as much as three years to adjust for income they didn’t actually earn.


‘Phantom’ Gains


“People have been filing income tax returns reporting gains and income that were phantom,” Stephanie Casteel, a tax partner at Atlanta law firm King & Spalding LLP, said in a phone interview.


Bloomfield said someone who gave, say, $1 million to Madoff to invest and then recorded gains of $3 million over the years, might have paid tax on that amount. A taxpayer might claim a $4 million theft-loss deduction, using the gain and the $1 million principal, he said.


If the IRS denies the deduction for the fake $3 million, the taxpayer could try for a refund claim. Refunds might be claimed on reported income going back further than the typical three year limit, he said.


Mortner Law Office PC in New York is running an ad on Google Inc.’s Web site that offers help to investors with getting money back from the IRS under the headline: “Madoff - Tax Refunds.” According to the Mortner Web site, “These are not simple claims.”


IRS a Beneficiary


The IRS has been a beneficiary of Madoff’s alleged scheme because it received taxes on what may have been billions of dollars in reported phony profits, said Brad Friedman, a securities litigator at Milberg LLP in New York.


“That’s where most of the money went,” he said.


Not everyone agrees the theft-loss tax route will be more fruitful than filing SIPC, bankruptcy claims or lawsuits.


“It’s going to depend on people’s individual situations, and whether legislation gets enacted that lets people restate their taxes for more than three years,” Friedman said.


“I think, through the claims process, if done properly, people will recover a lot more,” said Blair Fensterstock, a trial lawyer at Fensterstock & Partners LLP in New York who has been tracking the Madoff litigation and hasn’t filed any claims for clients. “I also think the government isn’t in any mood to give back money to taxpayers, especially wealthy taxpayers.”


The SIPC case is Securities Investor Protection Corp. v. Bernard L. Madoff Investment Securities LLC, 08-01789, U.S. Bankruptcy Court, Southern District of New York (Manhattan). The criminal case is U.S.A. v. Madoff, 1:08-mj-02735, and the SEC case is Securities and Exchange Commission v. Madoff, 1:08-cv- 10791, both U.S. District Court, Southern District of New York (Manhattan).


To contact the reporters on this story: Thom Weidlich in New York at tweidlich@bloomberg.net; Cynthia Cotts in New York at ccotts@bloomberg.net; Erik Larson in New York at elarson4@bloomberg.net.

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01/21/09 Another Victim Of Greenwich Resident Walter "Feeder Fund" Noel Comes Forward

MORE TRUST FUND BABIES ARE CHECKING THE CLASSIFIED ADS THANKS TO GREENWICH GOLDEN COUPLE WALTER AND MONICA NOEL ....



Another One Bites The Dust Thanks To Walter "Feeder Fund" Noel

You Wont Read This On The Business Pages Of The Greenwich Time....

WALTER "FEEDER FUND" NOEL STRIKES AGAIN !!!!!

Yet Another Loser Emerges in Madoff Scandal
New York Times Blogs

Auriga International Advisers, a hedge fund company registered in the British Virgin Islands, lost more than 400 million Swiss francs, or about $350 million, that had been invested with the disgraced financier Bernard L. Madoff, the company’s main shareholder said Wednesday.

Jacques Rauber, who is described as the majority shareholder of Auriga International Advisers in a 2007 filing to Britain’s business register, confirmed reports in the Swiss weekly SonntagsZeitung that the company’s Auriga International fund was wholly invested in the Fairfield Sentry fund, The Associated Press reports.

That fund, run by Walter M. Noel’s Fairfield Greenwich Group in Connecticut, invested all its $7.3 billion in assets with Mr. Madoff, who is accused of running a $50 billion Ponzi scheme....

...Information about Auriga’s investors was scarce. The company says on its Web site that ”clients include both institutional investors and high net worth individuals.”

Auriga is licensed to provide financial management services by authorities on the British Virgin Islands, a Caribbean tax haven known for its corporate and banking secrecy.

Go to Article from The Associated Press via The New York Times »
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