Toyota shareholders sue over fallen stock price (AP) – NIMBRUNG.NET
MIAMI – Toyota shareholders incensed over a sudden drop in the Japanese automaker’s stock price are heading to court with lawsuits claiming company executives deliberately misled investors and the public about the depth of accelerator problems in millions of its vehicles.
At least three proposed class-action lawsuits filed by Toyota investors say the company gave false initial assurances that the sudden acceleration problem was a simple matter of floor mats trapping gas pedals, helping prop up the stock price.
The shareholder cases are part of an avalanche of potentially costly lawsuits against Toyota over the acceleration issue, including those filed by crash victims and their families and those brought by Toyota owners contending their vehicles are worth far less because of the recalls.
The investor lawsuits say Toyota spread misleading information through press releases, conference calls with stock analysts and TV interviews to assure stockholders and the public that the accelerator problem was easily fixed or might be the driver’s fault.
Instead, the lawsuits contend, top Toyota executives have known for nearly a decade that faulty electronic throttle controls caused vehicles to sometimes careen wildly out of control but covered it up to protect the company’s reputation for safety — and its stock price. The company has not issued any recalls involving flaws in the electronic throttles and has repeatedly denied they are the problem.
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Donors conference raises $850 million for Darfur (AP) – NIMBRUNG.NET
CAIRO – An international donors conference on Sunday raised $850 million for projects intended to ensure the safe return of nearly 3 million people displaced during the war in Darfur.
The one-day conference in Cairo was organized by the 57-nation Organization of The Islamic Conference and included representatives from the U.S., European nations, U.N. agencies and aid groups.
Host Egypt said the conference highlighted the importance of development in achieving peace and stability in Darfur. It said many participants made unspecified aid pledges on top of the dlrs 850 million raised.
“The large participation and the pledges made reflect the wide extent of the international commitment and wish in supporting peace and stability in Darfur,” Egyptian Foreign Minister Ahmed Aboul Gheit said, reading from the meeting’s final communique.
“Development in Darfur is the real guarantee to help refugees back to their homes,” Aboul Gheit said.
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Papal letter fails to calm anger over Irish abuses (AP) – NIMBRUNG.NET
DUBLIN – Pope Benedict XVI’s unprecedented letter to Ireland apologizing for chronic child abuse within the Catholic Church failed Saturday to calm the anger of many victims, who accused the Vatican of ducking its own responsibility in promoting a worldwide culture of cover-up.
Benedict’s message — the product of weeks of consultation with Irish bishops, who read it aloud at Masses across this predominantly Catholic nation — rebuked Ireland’s church leaders for “grave errors of judgment” in failing to observe the church’s secretive canon laws.
The pope, who himself stands accused of approving the transfer of an accused priest for treatment rather than informing German police during his 1977-82 term as Munich archbishop, suggested that child-abusing priests could have been expelled quickly had Irish bishops applied the church’s own laws correctly. He pledged a church inspection of unspecified dioceses and orders in Ireland to ensure their child-protection policies were effective.
He also appealed to priests still harboring sins of child molestation to confess.
“Openly acknowledge your guilt, submit yourselves to the demands of justice, but do not despair of God’s mercy,” he wrote.
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After papal rebuke, Ireland takes stunned stock of battered church, economy, and nation (The Christian Science Monitor) – NIMBRUNG.NET
Dublin, Ireland –
Having enjoyed the celebrations of St. Patrick’s Day, many Irish people at home and abroad are now staring with disbelief at the state of their nation.
“I can’t think of anything that makes me sit up and pay attention,” says Gerard Casey, professor of philosophy at University College Dublin. “In terms of our political leaders, bankers, or even our self-knowledge, there’s nothing good to say. I see no sign of what people like to call ‘green shoots.’ “
How different things were just three short years ago. The country was riding high: business was booming and Ireland was one of the richest countries in the EU. The peace process in Northern Ireland was, while far from perfect, at least pointing toward a settled future.
Then economic crisis hit in 2007, just after the Irish general election brought a government to power promising a long boom. Instead, the country got a long bust and since then things have only been getting worse.
Unemployment has hit 12.6 percent, with 436,956 jobless, while the country’s $30 billion deficit represents 12.5 percent of gross domestic product – trailed only by Greece among the 16 countries in the eurozone.
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Pope blasts Irish church,no Vatican blame in abuse (AP) – NIMBRUNG.NET
VATICAN CITY – Pope Benedict XVI rebuked Irish bishops Saturday for “grave errors of judgment” in handling clerical sex abuse and ordered an investigation into the Irish church but did not mention any Vatican responsibility.
In a letter to the Irish faithful read across Europe amid a growing, multination abuse scandal, the pope doled out no specific punishments to bishops blamed by victims, and Irish government-ordered investigations, for having covered up abuse of thousands of Irish children from the 1930s to the 1990s.
Ireland’s main group of clerical-abuse victims, One in Four, said it was deeply disappointed by the letter because it failed to lay blame with the Vatican for what it called a “deliberate policy of the Catholic Church at the highest levels to protect sex offenders, thereby endangering children.”
“If the church cannot acknowledge this fundamental truth, it is still in denial,” the group said.
The letter directly addressed only Ireland, but the Vatican said it could be read as applying to other countries. Hundreds of new allegations of abuse have recently come to light across Europe, including in the pope’s native Germany, where he served as archbishop in a diocese where several victims have recently come forward. One priest suspected of molesting boys while the future pope was in charge was transferred to a job where he abused more children.
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