trip

Obama Can’t Deliver Olympics for Chicago as City Bid Bounced in First Vote

October 2, 2009

By Hans Nichols and John McCormick Oct. 2 (Bloomberg) — President Barack Obama’s personal appeal to deliver the 2016 Olympic Games to his hometown of Chicago was rejected in a swift rebuff that threatened to diminish his political clout at home and abroad. The International Olympic Committee eliminated Chicago in the first round of voting, denying Obama’s plea to put the summer sports spectacle in the “city where I finally found a home.” By traveling to Copenhagen for the final selection, Obama, who has been cheered by adoring crowds in Europe both before and after his election, put his popularity to a global test. “I think to be eliminated in the first round is very embarrassing, to put it mildly,” said Stephen Hess , a presidential historian at George Washington University in Washington. The president was informed of Chicago’s fourth-place finish aboard Air Force One, said deputy White House spokesman Bill Burton . Obama’s failed 20-hour excursion raises questions of whether his international popularity translates into concrete victories for America. The president’s overseas trip also coincided with a Labor Department report that showed the U.S. unemployment rate climbed to the highest level since 1983. Republican Strategists Some Republicans questioned the political wisdom of the president’s decision to make the case for Chicago in person, though few elected lawmakers immediately criticized Obama for not closing the deal in Copenhagen. “As Napoleon said, if you’re going to take Vienna, take Vienna,” said Jim Pinkerton , a Republican strategist. “Same with Copenhagen. He should not have gone unless he had it wired.” White House spokesman Robert Gibbs had dismissed doubts about the trip earlier in the week, suggesting that critics might have been pulling for Chicago to lose. Many in the crowd gathered in Chicago’s Daley Plaza to await the vote said a loss wouldn’t hurt the president. “For Obama it doesn’t matter because it’s Chicago’s bid,” said Matthew Gottlieb, 28, an office manager for an architecture firm. “Obama is backing the bid, but it is Chicago’s bid.” To contact the reporters on this story: Hans Nichols in Washington at hnichols2@bloomberg.net John McCormick in Copenhaged at jmcormick16@bloomberg.net

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Obama to Make Personal Pitch for ’16 Olympics as Health-Care Plan Advances

September 28, 2009

By John McCormick Sept. 28 (Bloomberg) — President Barack Obama decided to personally lobby for Chicago’s Olympic bid in Copenhagen because the health-care debate is moving forward and getting the 2016 games will be a boon for the economy, the administration’s chief spokesman said. White House press secretary Robert Gibbs dismissed suggestions Obama was making the trip because it involves his adopted hometown. “I don’t think there is any doubt that the president is enormously proud of Chicago,” Gibbs said today. “If it had been Los Angeles, I think the notion that the president would have done less because it was a different U.S. city just doesn’t hold a lot of water.” Two weeks ago Obama said he was too occupied by the fight over revamping the U.S. health-care system, his top domestic priority, and would send first lady Michelle Obama to make the U.S. pitch before the International Olympic Committee . The administration announced this morning that the president will attend the Oct. 2 final presentation to the IOC. Chicago is competing against Madrid, Rio de Janeiro and Tokyo. Gibbs said that Obama decided to go, in part, because he now believes the health-care debate is “in a better place” than it was several weeks ago. He also said the games would provide the U.S. with a “big economic benefit” worthy of the president’s time. Strengthening Bid Valerie Jarrett , a senior presidential adviser, said in an interview today that having the president in Copenhagen could be essential to Chicago winning the games. “It strengthens our bid,” she said. “There is nothing like the president expressing what it means to him.” Brazilian President Luiz Inacio Lula da Silva, King Juan Carlos of Spain, and Spanish Prime Minister Jose Luis Rodriguez are also scheduled to be in Copenhagen. Tokyo is urging new Japanese Prime Minister Yukio Hatoyama to attend. Michelle Obama, in an interview today at the White House, said the U.S. “can’t take anything for granted” in making the case to win the Olympic Games. She and Jarrett, who has led the White House’s Olympics lobbying effort, are scheduled to arrive in Copenhagen on Sept. 30. Gibbs was asked about Chicago’s reputation as a city plagued by political scandal. “The onus is on the city to ensure that whatever money is used is spent wisely and efficiently,” he said in response to a question at the daily White House briefing. Obama’s decision to make the trip will add star power to a U.S. delegation that already includes the first lady, television host Oprah Winfrey , Transportation Secretary Ray LaHood and Education Secretary Arne Duncan . Chicago is bidding to bring the Summer Games to the U.S. for the first time since Atlanta in 1996. To contact the reporter on this story: John McCormick in Chicago at jmccormick16@bloomberg.net

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Obama to Attend IOC Vote to Back Chicago Bid for 2016 Games, Jarrett Says

September 28, 2009

By John McCormick Sept. 28 (Bloomberg) — President Barack Obama will fly to Copenhagen this week to attend a vote on where the 2016 Summer Olympics will be held, said Valerie Jarrett , a senior adviser to the president. Obama will attend the Oct. 2 final presentation to the International Olympic Committee for the bid by his adopted hometown of Chicago, Jarrett said in an interview. “It strengthens our bid,” she said. “There is nothing like the president expressing what it means to him.” Chicago is competing against Madrid, Rio de Janeiro and Tokyo. Organizers of the U.S. bid had been lobbying the White House to have Obama make the final pitch, although the president had previously said he was too busy with the battle in Congress over health-care legislation. “President Obama and first lady Michelle Obama symbolize the hope, opportunity and inspiration that makes Chicago great, and we are honored to have two of our city’s most accomplished residents leading our delegation in Copenhagen,” Chicago Mayor Richard M. Daley said in a statement issued by the Chicago 2016 bid committee. Amy Brundage, a White House spokeswoman, said Obama’s absence from Washington will be brief and will not hurt efforts on his top domestic legislative priority. ‘Overall Progress’ “The president made a determination that being out of the country for a day will not negatively affect his efforts on health care or the overall progress of the legislation,” Brundage said. Patrick Ryan , chairman of Chicago’s bid and founder of insurance brokerage Aon Corp., said in a statement that the president’s presence will mean a great deal in Copenhagen. “There is no greater expression of the support our bid enjoys, from the highest levels of government and throughout our country, than to have President Obama join us in Copenhagen for the pinnacle moment in our bid,” Ryan said. Brazilian President Luiz Inacio Lula da Silva, King Juan Carlos of Spain, and Spanish Prime Minister Jose Luis Rodriguez are all also scheduled to be in Copenhagen. Tokyo is urging new Japanese Prime Minister Yukio Hatoyama to attend as well. The White House said the first lady will arrive in Copenhagen on Sept. 30, along with Jarrett, who has led the White House’s Olympics lobbying effort. The president will arrive just prior to Chicago’s presentation and will fly back to Washington the same day, the White House said. ‘Bring the World Together’ “President Obama and First Lady Michelle Obama will both make presentations to the IOC during Friday’s session,” the White House said in a statement. “They will discuss why Chicago is best to host the 2016 Summer Games, and how the United States is eager to bring the world together to celebrate the ideals of the Olympic movement.” While in Denmark, the president and first lady also will meet with Danish royalty and Prime Minister Lars Løkke Rasmussen, the White House said. A White House advance team was sent to Copenhagen last week to make security and other arrangements. White House Press Secretary Robert Gibbs said on Sept. 24 that it would be a “very quick trip” if the president did go. Obama’s decision to make the trip will add star power to a U.S. delegation that already includes the first lady, television host Oprah Winfrey , U.S. Transportation Secretary Ray LaHood and U.S. Education Secretary Arne Duncan . Chicago is bidding to bring the Summer Games back to the U.S. for the first time since Atlanta in 1996. To contact the reporter on this story: John McCormick in Chicago at jmccormick16@bloomberg.net

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Madoff’s Belgian Shoes Stashed as U.S. Prepares Palm Beach Home for Sale

September 9, 2009

By Justin Blum Sept. 9 (Bloomberg) — Sally Schowalter pauses at the dark wood door to Bernard Madoff’s former home in Palm Beach, Florida, her eyes fixed on a U.S. Marshals Service sticker on the window warning against trespassing. “It’s intimidating,” she tells her colleagues. “Can we take it off?” Schowalter works for the Marshals Service, though she doesn’t carry a badge or a gun. Her job entails getting the best price for confiscated real estate such as the Florida house, appraised this year for $7.67 million by Palm Beach County. With the Madoff house, the hazards for those who work with Schowalter can be unusual — including flying dog poop hurled by a disgruntled passerby. As Schowalter walks through the approximately 6,500-square- foot house, she points the cleaning crew to a bathroom with grime on the countertop and a dead cockroach on the rust-colored terra cotta floor tiles. She picks up a leaf on the circular staircase leading to the master bedroom. A federal judge ruled in June that the Marshals Service can sell the Palm Beach house, along with a house in Montauk, New York, and a penthouse on the Upper East Side of Manhattan. The Montauk house was listed last week for $8.75 million. The Marshals Service plans to have the five bedroom, seven bathroom Palm Beach property on the market soon and announce an asking price. Proceeds from the sales will be used to pay restitution to victims of Madoff’s Ponzi scheme, the largest in history. Madoff, 71, pleaded guilty in March and was sentenced in June to 150 years in prison for using money from new clients to pay earlier investors in a $65 billion fraud. Belgian Shoes Schowalter flew to Palm Beach last week to make sure the house is clean, Madoff’s handmade Belgian shoes are out of sight and the best real estate agent is hired to market the property. “It looks pretty good!” Schowalter says, dressed in a pantsuit, gold earrings and a matching necklace. A contractor points to mildew growing on floor tiles in an outdoor area. Schowalter makes a phone call to a company that handles maintenance for Marshals Service properties. “I want that taken care of ASAP,” she says. Schowalter, a mother of three grown children who declined to give her age, joined the Marshals Service in 2002 after a career in real estate and the mortgage industry. She was attracted by job security and the agency’s mission. FBI Cases Schowalter is the real property team leader for a group of 10 people. They work out of agency headquarters in Crystal City, Virginia, just outside Washington, and manage and sell properties obtained in cases investigated by agencies including the Federal Bureau of Investigation and Drug Enforcement Administration. They also assist prosecutors in making decisions about property targeted for forfeiture. “We have the crack house to the penthouse,” Schowalter says. A Marshals Service contractor normally selects real estate agents to sell seized properties. With some high-value houses, Schowalter helps the contractor pick the agent in an effort to boost the sale price. “We really do care about getting the most for the property,” Schowalter says, sitting on a leather chair in the Madoff living room, whose floor-to-ceiling windows overlook a pool and the Intercoastal Waterway. “We take it seriously.” During the trip to Palm Beach, she and a Marshals Service contractor interviewed five sets of real estate agents about proposals they submitted to sell the house. To help generate interest in the property, the Marshals Service allowed a television crew inside. The video was broadcast today. Jewelry and Cars The Marshals Service asset forfeiture operation — which also handles items such as boats, jewelry and cars — generated $1.32 billion in the fiscal year that ended Sept. 30, 2008, according to the agency. Proceeds from some forfeited properties go to victims. Sales of other properties pay the salaries of Schowalter and other administrative staff in the Marshals’ asset forfeiture operation. Schowalter’s husband, Michael, jokes that crime pays — her salary. The Palm Beach house, which Madoff shared with his wife Ruth, still has most of the furniture and artwork, which are being sold separately. There are golf clubs in a rack next to the front door, an antique U.S. flag on the living room wall and a glass display case featuring ropes tied in various knots. The Marshals Service packed items such as clothing, artistic birds nests mounted in the living room rafters, along with statues, figurines and paintings of bulls. “We’ve taken away things that screamed Bernie Madoff,” Schowalter says. His-and-Hers Closets Walking through the master bedroom, with a vaulted ceiling, dark wood floors and his-and-hers bathrooms and closets, Schowalter says she wants to keep buyers focused on the property, not Madoff. Taking a break from cleaning, a Marshals Service contractor, Mike Clawson, tells Schowalter of the difficulties he has encountered as he has tended to the 20-foot-tall ficus shrub in the front yard and the rest of the trees and greenery that provide privacy from the houses immediately next door. People have walked by cursing him, assuming he works for Madoff, says Clawson, as he chomps on a cigar from the Dominican Republic. One woman hurled a bag of dog excrement at him, narrowly missing, he says. To contact the reporter on this story: Justin Blum in Palm Beach, Florida, at jblum4@bloomberg.net

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North Korea `Weaponizing’ Plutonium, Says It’s Open to Disarmament Talks

September 4, 2009

By Heejin Koo Sept. 4 (Bloomberg) — North Korea said it is in the final stages of “weaponizing” plutonium and can either engage in negotiations or accelerate its nuclear program, indicating the communist state hasn’t given up on disarmament talks. “We are prepared for both dialogue and sanctions,” the official Korean Central News Agency said, citing a letter sent to the United Nations Security Council. “If some permanent members of the UNSC wish to put sanctions first before dialogue, we would respond with bolstering our nuclear deterrence.” The ultimatum may signal Kim Jong Il’s regime is trying to improve its hand before rejoining talks to dismantle the nuclear program after vowing to abandon them forever. In the past month North Korea has indicated its willingness to make concessions by releasing two detained U.S. journalists and several South Korean citizens, and sending a delegation to the South. “North Korea wants a face-saving gesture from the United Nations that would provide the basis for them to return to nuclear talks,” said Ryoo Kihl Jae , a professor at the University of North Korean Studies in Seoul. “It appears to be a tactic of provocation and placation, which is common practice for North Korea.” Reprocessing of spent fuel rods is “at its final phase and extracted plutonium is being weaponized,” KCNA said in the letter. “Experimental uranium enrichment has successfully been conducted to enter into the completion phase.” ‘Need to Verify’ “We will need to verify North Korea’s claims, which won’t be easy because it’s not as if North Korea has shown the uranium to the public,” South Korean Defense Ministry Spokesman Won Tae Jae told reporters in Seoul. The letter “could be a type of a tactic for negotiations in the future.” North Korea fired more than a dozen missiles this year and tested a second nuclear weapon in defiance of international pressure, prompting the Security Council to impose sanctions in June. The communist country said in April it would never return to nuclear disarmament talks involving the U.S., China, Russia, South Korea and Japan. Stephen Bosworth , the U.S. special envoy on North Korea’s nuclear program, met Chinese Foreign Minister Yang Jiechi and Vice Foreign Minister Wu Dawei in Beijing to discuss how to resume disarmament talks. He plans to meet South Korea’s chief nuclear negotiator Wi Sung Lac in Seoul tomorrow before heading to Tokyo on Sept. 6. He has no plans to visit North Korea during this trip, according to the U.S. State Department. Open to Engagement “We would be open to bilateral engagement as well but only within the context of the six-party process and as an effort to help rejuvenate and restart the six-party process,” Bosworth told reporters today before leaving Beijing for Seoul. He and the Chinese officials “agreed that complete, verifiable denuclearization of the Korean peninsula remains our core objective in our ongoing efforts” regarding North Korea, Bosworth said. North Korea’s permanent mission sent the letter to the UN Security Council president yesterday, KCNA said in its report. It didn’t mention by name either the North Korean Ambassador to the UN, Sin Son Ho, or the U.S. Ambassador Susan Rice , who currently holds the council’s rotating presidency. North Korea “will never be bound” by the UN sanctions resolution imposed in June, KCNA said. “We have never objected to the denuclearization of the Korean Peninsula and of the world itself,” it said. “What we objected to is the structure of the six-way talks which had been used to violate outrageously the DPRK’s sovereignty and its right to peaceful development.” The Democratic People’s Republic of Korea is another name for North Korea. Plutonium Stockpiles Kim’s regime, which tested the second nuclear device May 25, said in June it will continue its nuclear weapons program, including the use of plutonium stockpiles for weapons and developing a program to produce highly enriched uranium. The Security Council voted unanimously in June to adopt a U.S.-backed resolution punishing North Korea for its nuclear test. The measure seeks to curb loans and money transfers to North Korea and step up inspection of cargoes containing material that might contribute to the development of nuclear weapons or ballistic missiles. “Japan and the international community can never tolerate North Korea possessing nuclear weapons,” Japanese Foreign Minister Hirofumi Nakasone said today in Tokyo. “North Korea should refrain from taking actions and making remarks that could escalate tension.” A leading official in the party that takes power in Japan this month said the new administration will take “a tough stance” with North Korea. “The goal of taking a tough stance is, needless to say, to get them to the negotiation table,” Katsuya Okada , the secretary-general of the Democratic Party of Japan , said at a press conference today in Tokyo. The DPJ defeated Prime Minister Taro Aso ’s Liberal Democratic Party this week. “It is deeply regrettable that North Korea is taking an attitude that is contrary to the UN Security Council resolutions,” South Korean Foreign Ministry spokesman Moon Tae Young said in Seoul. “We will take a stern and consistent response to North Korea’s threats and provocations.” To contact the reporters on this story: Paul Tighe at ptighe@bloomberg.net ; Heejin Koo in Seoul at hjkoo@bloomberg.net

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Kennedy Constituents Line Roads to Boston to Bid Farewell to Their Senator

August 27, 2009

By Brian K. Sullivan and Sree Vidya Bhaktavatsalam Aug. 27 (Bloomberg) — Thousands of Massachusetts residents gathered along the roads and highways between Boston and Hyannis Port in an effort to catch a glimpse of the black hearse bearing the body of Edward M. Kennedy . Kennedy, a U.S. senator since 1962, was taken by motorcade from his family’s compound on Cape Cod for the more than 70- mile (112 kilometer) trip to Boston, the city his grandfather John F. Fitzgerald once served as mayor. Kennedy’s wife, Victoria Reggie Kennedy , his son Patrick , a congressman from Rhode Island, his nephew Joseph Kennedy , a former congressman, were among the family members who are accompanying the senator’s body on the trip. So many family members wanted to accompany him to Boston, a bus had to be brought in to carry them all, according to WBZ, Channel 4, Boston’s CBS affiliate. State Senator Robert O’Leary, a Democrat who lives in the town of Barnstable, was one of the hundreds gathered on a back road in Hyannis to watch the motorcade leave for Boston. “I’m surrounded,” he said on his cell phone.“People are everywhere. I’ve never seen anything like it.” A military honor guard stood watch outside the home. After a private mass, several family members gathered on a porch where they could be seen laughing and holding hands as they waited to assemble for the procession to Boston. “Today, the city of Boston will celebrate the life of Senator Kennedy,” Boston Mayor Thomas Menino said in a statement. “I urge everyone to take a few minutes to remember his service to our city, state and country.” 47 Bell Rings Menino, a Democrat like Kennedy, and his wife, Angela, planned to watch the procession pass City Hall while the bell atop Faneuil Hall was to ring 47 times, once for each year of Kennedy’s service in the U.S. Senate. Thousands of Boston residents and workers were expected to line the streets, as well as the Rose Kennedy Greenway, a park in the center of the city named for Kennedy’s mother. Along the roads from Cape Cod to Boston, people held U.S. flags and held signs saying good-bye to the senator. The motorcade was to tour locations in the city that were important to Kennedy’s family, such as St. Stephen’s Roman Catholic Church in Boston’s North End neighborhood where his mother was baptized and eulogized. The hearse was also scheduled to pass by the office where Kennedy served as an assistant district attorney and where his brother, the late President John F. Kennedy , lived while serving in U.S. Congress. It will also pass by the JFK Federal building named for his brother and where he had his Boston office for many years. Public Viewing Following its tour of the city, the motorcade will arrive at the John F. Kennedy Library and Museum at about 4 p.m. where the senator’s body will lie in state for public viewing until Aug. 29. His funeral will be held at Our Lady of Perpetual Help Basilica on the day after tomorrow where President Barack Obama , vacationing on the Massachusetts island of Martha’s Vineyard, will speak. Obama is “still working” on the eulogy, White House spokesman Bill Burton told reporters today on Martha’s Vineyard.“It’s obviously going to be very personal.” Kennedy will be buried near his two brothers — President Kennedy, assassinated in 1963, and New York Senator Robert F. Kennedy , killed by a gunman in 1968 — at Arlington National Cemetery. To contact the reporters on this story: Brian K. Sullivan in Boston at bsullivan10@bloomberg.net ; Sree Vidya Bhaktavatsalam in Boston at sbhaktavatsa@bloomberg.net

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Soho House Plans `Urban’ Pizza Buzz, Lawyers Make Yogurt: Richard Vines

August 27, 2009

By Richard Vines Aug. 27 (Bloomberg) — Soho House Group plans to open a pizzeria on Oct. 15 on the ground floor of the Tea Building, a stone’s throw from Shoreditch House in East London. “Pizza East will offer gourmet cuisine in a relaxed and urban environment,” according to a job advertisement on Caterer.com . No, I have no idea what that means. “The atmosphere will be buzzing and cosmopolitan with a strong emphasis on quality service.” Well, that’s all right then. Soho House , whose clubs are hangouts for the cool and those who want to be, has also taken over the Hoxton Grill, in the nearby Hoxton hotel . The eatery was confusing when it opened in 2006, promising Parisian chic with a New York vibe. The new owners say they’ve turned it into a classic American grill. The hotel’s official name? The Hoxton Urban Lodge. Respect. “When Lehman Brothers collapsed, we were all privately crying in our offices,” the chef Richard Corrigan told me in February. Looks like the tears have been replaced by action. Corrigan is among the London culinary masters who are giving cooking lessons to eager amateurs. At Corrigan’s Mayfair, you prepare lunch with the chef and his right-hand man Chris McGowan, then eat with them. The sessions cost 250 pounds ($412) and are scheduled for Sept. 5, Nov. 28 and Feb. 6. Details on the Web site: http://www.corrigansmayfair.com/pages/home/ . Tom Aikens is offering similar food and wine classes at his eponymous Chelsea restaurant. Food alone is 120 pounds; wine alone is 60 pounds; combined, the cost is 165 pounds. Dates include Sept. 19, Oct. 17, Nov. 14 and Dec. 12. For more, e-mail info@tomaikens.co.uk or call +44-20-7584-2003. Restaurant Gordon Ramsay offers a package for couples, with one person taking a class with chef Clare Smyth and then both enjoying lunch. The cost might give you indigestion. It’s 600 pounds. For more information, go to http://www.gordonramsay.com/royalhospitalroad/masterclasses/ . Other chefs offering classes include Ichiro Kubota of Umu. The price is 140 pounds. Call +44-20-7499-8881. It’s the same price with Antonin Bonnet at the Greenhouse. Call Jean-Marie Miorada on +44-20-7499-3331 or e-mail reservations@greenhouserestaurant.co.uk . Walk through London’s Marylebone and you may notice a new Italian eatery that is opening with little publicity. Cocorino will sell ice creams and snacks. The focacceria has soup, stuffed focaccia, ciabatta, sourdough, thin Italian wraps (piadina) and hot panini. The gelateria is still testing the more than 20 ice creams and sorbets to be made on the premises. The people behind Cocorino are Linda Yau (sister of Hakkasan founder Alan Yau) and the chef Francesco Mazzei. The address is 18, Thayer Street, W1U 3JY and the phone number will be +44-20- 7935-0810 or you might try http://www.cocorino.co.uk/html/cocorino.html . Lower East Side, a new bistro and bar at Westferry Circus, Canary Wharf, has opened with an offer of 50 percent off the food bill. At least, the restaurant said food is half-price until Sept. 20 and the public relations company said that’s only for some local companies. The venue will start opening early for breakfast on Sept. 1. For information, call +44-20-7536-2862 or click http://www.lowereast.co.uk/index.html . Try not to get confused with the East Side Inn. What’s with all these New York names? I had lunch on Sunday with Hrishikesh Desai, the winner of this year’s Roux Scholarship , the annual U.K. competition for young chefs, on which I was guest judge. We ate at the Ledbury, where Brett Graham’s cooking is much admired by fellow chefs. Desai works at Lucknam Park , in the west of England. Desai, whose family lives in Chinchwad, near Pune in India, is quietly spoken and very focused. He’s a chef to watch in the years to come. He’s 30 today. Looking for an offbeat place for drinks on the edge of the City? Callooh Callay is worth the trip to Shoreditch. The venue is inspired by Lewis Carroll , the director is Richard Wynne (former manager of Loungelover) and the decor is a fantastic jumble. You enter the bar area out back through a wardrobe. My favorite touch is the old gramophone (with a big speaker) in which the Mad Hatter’s Tiki Punch is served. It costs 30 pounds and should serve up to five. Or two thirsty people, I’d say. 65 Rivington Street, EC2A 3AY. For more information, call +44-20- 7739-4781 or go to http://www.calloohcallaybar.com/. Tickets are on sale for the Eat-Japan Sushi Awards 2009, in which masters compete to create unforgettable dishes. This year, the event will be held at Olympia on Nov. 14 in conjunction with “Masterchef Live.” For more information, click on http://www.eat-japan.com/sushi-awards-2009/index.html . Heinz Beck, 45, who holds three Michelin stars at La Pergola in Rome, will oversee Apsleys, at London’s Lanesborough hotel, early next month. The pithily named “Apsleys — a Heinz Beck Restaurant” will feature dishes such as rabbit ravioli with asparagus and pistachio; and black cod with chickpeas. Mains will start at 19 pounds and the set lunch will be 26 pounds. For information, call +44-20-7259-5599 or click on http://www.lanesborough.com/ . The press release says the Lanesborough is iconic, which must be a good thing. Fans of organic frozen yogurt, and I’m sure there are some of you out there, may be pleased to hear about a venue on Islington’s Camden Passage. “Frae is the brainchild of Scottish businessmen Donald Murray and Martyn Pollock, who traded in life as high-flying corporate lawyers in the City to open the organic frozen yogurt company,” the press release says. Both specialized in mergers and acquisitions — Murray at CMS Cameron McKenna LLP and Pollock at SJ Berwin LLP. Frae, 27 Camden Passage, Angel, N1 8EA or click on http://www.frae.co.uk/Frae_Organic_Frozen_Yogurt.html . The Mango Tree restaurant is holding its annual Lady Boy beauty contest on Sept. 13. Tickets are 15 pounds in advance, 18 pounds on the door. For information, call +44-20-7283 1888. ( Richard Vines is the chief food critic for Bloomberg News. Opinions expressed are his own.) To contact the writer on the story: Richard Vines in London at rvines@bloomberg.net .

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Nicole Williams: 9 Tricks for a Stress-Free Vacation (and Return)

August 24, 2009

August, sweet August. Ripe tomatoes. Days by the pool or, better yet, the beach. Not a care in the world. Until, that is, you return from vacation and face a deluge of emails, meetings, and phone calls. It’s enough to make you want to return to the beach pronto, even if your bank account is screaming “Impossible!” But there are ways to ease back into the nine-to-five-drill without losing your hard-earned relaxation the second you enter the door. The trick to a stress-free return to the workplace is three-fold, and includes strategies for before, during, and after your trip. 1. Choose your return date with care. Many experienced travelers like to get home on a Friday or Saturday, allowing them selves the weekend to reacclimatize. If you give yourself a few days to get your personal life in order, then whatever awaits you at the office might not seem so overwhelming. Similarly, consider returning toward the end of the week and slipping into work for a day or two to get your feet wet. Enjoy a weekend at home and then really plunge in on Monday. 2. Set up voice and email notifications. Let people know that you’re away and will not be checking email or voicemail until a specific date. In your absence, provide someone else they can contact. You might give your return date as a day later than it really is in order to buy yourself a day to get organized upon returning. 3. Tidy up. Clean your desk before you leave town. We all know that it’s so much nicer to return to a clean house, so why not a clean desk, too? 4. Be in the moment. While you’re on vacation, try to put work out of your mind. The more quickly you’re able to sink into vacation mode — something that takes many people a few days to do — the more you’ll gain from your time away. If you’re traveling with family or friends, they’ll appreciate not hearing about work, too! 5.Get in–or out–of touch. Decide in advance whether you’ll have any contact with the office while you’re away. If you tell people that you’re cutting all ties for a week, then there will be no expectations of you. On the other hand, if you say you’ll call in, be sure to follow through. 6. Decide whether or not you’ll check email. It’s pretty hard to find a place where you can avoid email at this point in time. Unless you’re going backpacking for a week, sans laptop, the onus is really on you. Will you check email or not? Be honest with yourself about your relationship to email. Just as some people can’t drink only one drink, others can’t look at only one email. If you’re the type who will get sucked into an hour’s or more worth of work time and stress, then leave your laptop at home and ignore Internet cafes. However, if you can open email and perform light triage with some well-timed messages, then go for it. Chances are you’ll slide back into work feeling a tad more on top of things. 7. Check your attitude before you return. That first day back can be like a dip in a cold pool. Make a real effort to be positive about returning to work. Choose one or two things to look forward to, be it a coworker you’ve missed or an interesting project. 8. Focus, focus, focus. Give yourself a day, at least, to carefully go through the emails, phone messages, and paperwork that arrived in your absence. Don’t think you’ll zoom through it in an hour and then be back to where you were before vacation. If you get sloppy at this point, you’ll regret it in a few days. Breathe deeply and settle in. 9. Look ahead. Still feeling blue or overwhelmed about being back? Get out a calendar and check your favorite travel sites and start dreaming of your next adventure!

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GM Said to Be Close to Agreeing on Hummer Sale to Chinese Machinery Maker

August 23, 2009

By Bloomberg News Aug. 24 (Bloomberg) — General Motors Co. may sign an agreement for the sale of the Hummer sport-utility vehicle business to a Chinese machinery maker this week, said two people familiar with negotiations. Executives from prospective buyer Sichuan Tengzhong Heavy Industrial Machinery Co. based in Chengdu, China, are expected to arrive in Detroit early this week for more negotiations with GM, said the people, who asked not to be named because the talks aren’t public. An agreement could be signed and announced during the trip, one of the people said. It will be subject to U.S. and Chinese regulatory approval before it will take effect. GM Chief Executive Officer Fritz Henderson is working to dispose of half of the automaker’s U.S. brands so the automaker can focus on the four that remain. The company is eliminating the Pontiac brand, and deals are pending to sell its Saab brand to Swedish sports car maker Koenigsegg Automotive AB and Saturn to Penske Automotive Group Inc. “Since early June, when GM announced that it reached a memorandum of understanding with Tengzhong for the potential sale of the Hummer brand, the parties have been in frequent discussions working closely to finalize a definitive agreement,” GM said in an e-mailed statement attributed to Hummer CEO Jim Taylor . “Negotiations continue to progress and the transaction will be announced upon the signing of the definitive agreement as soon as appropriate.” GM won’t provide further specifics until the agreement is completed, the statement said. “We are working through a process, we’ve been in frequent discussion to finalize a definitive agreement which will be announced as soon as appropriate,” said Tim Payne , a spokesman for Tengzhong. The companies signed a memorandum of understanding for the sale of Hummer in June. No Government Roadblocks Regulators have not indicated any problems with the deal, the people said. The BBC reported in June, citing China National Radio, that the National Development and Reform Commission would block the sale on environmental grounds and because Tengzhong lacks expertise in passenger-car production. The Ministry of Commerce has reached a consensus internally to approve the deal, the National Business Daily reported citing an unidentified ministry officer. GM has said it is working with both governments to make sure they understand the deal and the benefits to all parties. The Hummer division will remain based in the U.S., and is considering several U.S. locations for a headquarters, including the Detroit or Nashville areas, Taylor, 52, said in a June interview. Separating from Detroit-based GM means Hummer must create corporate offices as it prepares to start building SUVs under Tengzhong’s ownership. Tengzhong would take on Hummer’s dealer accords and senior management. Hummer will have 100 or fewer corporate employees and contract with GM for manufacturing, Taylor said. The sale will protect more than 3,000 U.S. jobs, the companies have said. To contact the reporter on this story: Katie Merx in Southfield, Michigan, at kmerx@bloomberg.net ; Stephanie Wong in Shanghai at swong139@bloomberg.net

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Kim Jong Il Agrees to Resume South Korean Family Reunions as Stance Thaws

August 16, 2009

By Shinhye Kang Aug. 17 (Bloomberg) — North Korea said it will ease restrictions on cross-border travel with the South, a sign the communist regime is backing away from the hard line accompanying this year’s nuclear test, missile launches and threats of war. Tourism to a mountain resort on North Korea’s eastern coast will resume “as soon as possible” and meetings between relatives will begin again on Oct. 3, the official Korea Central News agency reported. Visits to the border city of Gaeseong will start again and the government pledged to “energize” operations of a nearby industrial complex, KCNA said. “The content of the release surpasses expectations,” said Paik Hak Soon, a North Korea expert at Sejong Institute outside Seoul. “It seems North Korea is seriously expressing its willingness to improve relations.” The softer stance follows on a pair of diplomatic successes with the North that began with U.S. President Bill Clinton securing the release of two detained American journalists on Aug. 5. North Korea then freed a South Korean worker it had detained for more than four months after Hyundai Group Chairwoman Hyun Jeong Eun traveled to the communist nation. Hyun extended her trip to meet with North Korean leader Kim Jong Il yesterday. North Korea had restricted border crossings and access to the complex for South Koreans in December in protest over what it called the hostile policies of South Korean President Lee Myung Bak . North Korea, which tested a second nuclear weapon in May, has threatened to nullify all agreements with South Korea, and said in May it will no longer abide by the 1953 armistice that ended the three-year Korean War. The reclusive state also vowed to never again participate in negotiations with the U.S., China, Japan, South Korea and Russia to dismantle its nuclear weapons program. To contact the reporter on this story: Shinhye Kang in Seoul at skang24@bloomberg.net

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Hillary Clinton to Balance Oil Need, Anti-Graft Demands in Nigeria Stop

August 12, 2009

By Janine Zacharia Aug. 12 (Bloomberg) — Secretary of State Hillary Clinton continues her African journey in Nigeria today where she will seek to improve ties with the largest U.S. oil supplier on the continent while offering to help it tackle corruption. Clinton arrived in Abuja, Nigeria’s capital, late yesterday from the Democratic Republic of Congo, where she urged that government to prevent militias from exploiting mineral wealth to fund their warfare. She stopped earlier in her trip in Kenya, South Africa and Angola, another major African oil producer. In Nigeria, Clinton will seek to balance U.S. concerns about graft with the American need for the West African nation’s oil. Corruption in Nigeria is a concern in business and in government. The election of Umaru Yar’Adua as Nigerian president in 2007 was deemed to be a sham by international observers because of ballot stuffing. Clinton will press Nigeria to reform its election commission, seek ways to help leaders fight corruption, and work to address militancy in the Niger Delta region that is reducing oil exports, a U.S. official said. “Nigeria is going to be probably the most tricky country” on Clinton’s seven-nation Africa tour, said Dave Peterson , director for African affairs at the National Endowment of Democracy in Washington and a monitor in Nigeria’s election. Clinton will meet today with President Yar’Adua and Foreign Minister Ojo Maduekwe, participate in an interfaith roundtable, talk to Nigeria’s political elites about corruption, and hold a town hall meeting with civic groups. Government Shortcomings In Washington yesterday, State Department spokesman Philip J. Crowley described Nigeria as “another country profoundly affected by conflict fueled at least in part by natural resources and the inability of the central government to effectively govern and meet the needs of its people.” A new assessment of the U.S.’s African diplomacy by the State Department’s inspector general says anti-corruption efforts should carry more weight. “Corruption is an issue that receives insufficient attention as an impediment to trade, development and investment,” said the report from the inspector’s office. In Congo, Clinton found a president, Joseph Kabila , unable to control militias that have exacerbated the violence in the eastern part of the country as they harvest valuable minerals. Nigerian President Yar’Adua’s government is “a disaster,” said Stephen Morrison , an Africa specialist at the Center for Strategic and International Studies in Washington. Yar’Adua “does not have his arms around the government.” Niger Delta Of immediate concern for the energy industry in Nigeria is violence and abductions in the southern Niger Delta. The acts have cut oil production capacity by roughly 800,000 barrels per day, Morrison said. Nigeria’s military said it hasn’t engaged in any shooting with militants since the government last week began an amnesty plan aimed at ending violence in the delta. Irving, Texas-based Exxon Mobil Corp . and San Ramon, California-based Chevron Corp. pump more than half of Nigeria’s oil and have been hit by some of the attacks. Yar’Adua may seek U.S. support through the Pentagon’s new Africa Command to tackle the threat from armed groups to oil production in Nigeria and in Cameroon, Equatorial Guinea and Sao Tome. Nigeria is also dealing with religious unrest. In northeastern Nigeria, at least 600 people have died since fighting erupted on July 26, when Islamists attacked police stations in the state of Bauchi. The clashes spread to at least four other states. Anti-Graft Effort The country, ranked as one of the most corrupt by Berlin- based Transparency International , is weighing anti-graft measures. Yar’Adua set up a panel in April to investigate the alleged bribery of state officials by foreign companies. Still, some observers are skeptical about the government’s commitment. “The whole drive against corruption has fizzled out,” Peterson said. En route to Abuja, Clinton reflected on her visit to Goma in eastern Congo yesterday, where she toured a camp housing about 18,000 Congolese who have fled fighting. “I’ve been in a lot of very difficult and terrible settings over a lot of years and I was just overwhelmed by what I saw both in the camp and in the conversation” with rape victims, Clinton told reporters on her plane. Clinton announced $17 million in new U.S. aid for rape victims in the region. To contact the reporter on this story: Janine Zacharia in Abuja, Nigeria, at jzacharia@bloomberg.net .

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Trichet May Keep ECB Rates at Record Low as Outlook Grows `Less Gloomy’

August 6, 2009

By Simone Meier Aug. 6 (Bloomberg) — The European Central Bank will leave interest rates at a record low as it tries to get credit flowing again to strengthen an economy that may return to growth this quarter, economists said. ECB officials meeting in Frankfurt today will keep the benchmark rate at 1 percent, according to all 52 economists in a Bloomberg News survey. The central bank, led by President Jean- Claude Trichet , will refrain from any further policy stimulus while it assesses the impact of its asset-purchase program and 12-month loans to banks, said Nick Kounis , chief euro-region economist at Fortis Bank in Amsterdam. “The economy seems to be finding its feet sooner than the ECB expected, but a recovery is going to be gradual,” he said. “We’re moving from gloomy to less gloomy. They’re definitely not going to sound anywhere near euphoric.” The economy of the 16 euro nations will expand 0.3 percent in the third quarter from the second, economists at Barclays Capital forecast, bringing an end to Europe’s worst recession since World War II. With unemployment rising and consumer prices falling at the fastest pace on record, the road to recovery may not be smooth. The euro area will be the worst performing major economy next year, according to the International Monetary Fund. The ECB announces its rate decision at 1:45 p.m. and Trichet holds a press conference 45 minutes later. Separately, the Bank of England will probably keep its key interest rate at 0.5 percent today, a Bloomberg survey shows. Credit Squeeze The Bank of England, U.S. Federal Reserve and Bank of Japan have lowered borrowing costs to close to zero and started buying government and corporate bonds to rekindle growth. By contrast, the ECB has focused on getting credit flowing through the banking system again, arguing that two thirds of its economy is financed by banks. The ECB in June lent banks a record 442 billion euros ($636 billion) for 12 months and will hold two more 12-month tenders this year. Last month it started a program to buy 60 billion euros of covered bonds, securities backed by mortgages and public-sector loans. In the second quarter, a net 21 percent of banks reported a tightening in credit standards for enterprises, down from 43 percent in the previous three months, according to the ECB’s bank lending survey published on July 29. Still, loans to households and companies grew at the weakest pace on record in June. ‘Continued Pressure’ Deutsche Bank AG Chief Executive Officer Josef Ackermann said on July 28 he remains “cautious” about the economic outlook and expects to see “continued pressure on the credit environment.” If banks remain reluctant to lend, the ECB may be forced to step up its response as the economic slump swells unemployment and prices decline. The jobless rate rose to 9.4 percent in June, the highest since 1999, and consumer prices posted a 0.6 percent annual decline in July, the biggest since data were first compiled in 1996. Trichet last month refused to rule out further rate cuts, saying while the current level was “appropriate,” policy makers hadn’t decided they had reached their lower limit. “The current stance is to monitor the impact of policy decisions that have been taken over the past months,” said Jacques Cailloux , chief euro-region economist at Royal Bank of Scotland Group Plc in London. “The latest information isn’t providing any sign that they would have to launch additional measures.” ‘The Worst Is Over’ European economic confidence rose to an eight-month high in July and the contraction in the region’s manufacturing and service industries slowed. Adidas AG, the world’s second-largest sporting-goods maker, yesterday reported a smaller decline in second-quarter earnings than analysts had forecast, and CEO Herbert Hainer said “the worst is over.” The ECB predicts the euro-region economy will contract about 4.6 percent this year and 0.3 percent in 2010. Inflation will average about 0.3 percent this year and 1 percent in 2010, it forecast in June. The bank aims to keep inflation just below 2 percent. Holger Schmieding , chief European economist at Bank of America-Merrill Lynch in London, said the ECB is unlikely to “change the script” before September, when it publishes the next round of forecasts. “I expect nothing, nothing, nothing” from today’s meeting, he said. “Interest rates are appropriate, and on the non-conventional front there won’t be anything new either. Council members could probably have saved the trip to Frankfurt.” To contact the reporter on this story: Simone Meier in Frankfurt at smeier@bloomberg.net

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North Korea Rejects China Model as Kim Jong Il Spurns Furs in Nuclear Test

August 4, 2009

By Bomi Lim Aug. 4 (Bloomberg) — The closing of Kim Yong Gu’s fur clothing factory in North Korea may be the beginning of the end for the communist country’s only cross-border business center with the South, the last symbol of reconciliation between the former wartime foes. As the North makes documentaries about leader Kim Jong Il following reports he has terminal cancer, businessman Kim pulled out after his managers were stranded in a government protest of military drills by the U.S. and the South

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