Stephen J. Sills, PhD
Assistant Professor
Department of Sociology
320 Graham Building
PO Box 26170
University of North Carolina at Greensboro
Greensboro, NC 27402-6170
http://www.uncg.edu/~sjsills/
sjsills@uncg.edu
Today, Monday September 29, 2008, Citigroup announces the acquisition of Wachovia. Purchasing all of the shares for $1.00 each for the banking operations, while Wachovia is able to retain its asset management and brokerage operations. This buyout means that the three largest financial companies (Bank of America, J.P. Morgan Chase, and Citigroup) will hold almost a third of the nation's deposits.
Although this is not my subject for the current events assignment, nor is it a global social problem, I thought, considering the connection UNCG has with Wachovia, that this buyout will affect most of us in the class. I use Wachovia for my student accounts and I know a large number of my peers do as well. Knowing that one of the largest banks in the world just bought out my bank because Wachovia was about to fold, I'm not sure what to think about my financial situation.
This is yet another sign that America's "invincible" economy is beginning to crumble.
The original article can be found at: http://www.washingtonpost.com/wp-dyn/content/article/2008/09/29/AR2008092900760.html?nav=rss_email/components. I'm sure most, if not all, large news companies will be reporting on this today.
Related News: http://www.washingtonpost.com/wp-dyn/content/article/2008/09/29/AR2008092900271.html?hpid=topnews
This year has been the deadliest year for
In fact many of the people who join the Taliban are illiterate tribal people or the jobless youth. Unemployment and poverty push not only natives but people in neighboring countries like
Despite official statistics, approximately 40 percent of the country’s 25 million populations are jobless and just about 5 million are living below the poverty line. Although
The majority of Afghans have little access to drinking water, jobs and their benefits, and enough for the standard of living. Taliban militants have also supported poor living conditions particularly in countryside’s with exploitation and government treachery.
The Taliban seeks the unemployed and offers roughly ten thousand dollars for any group or individuals who attack a district headquarters.
To me, this helps explain the amount of suicide bombing and bombings in general that have taken place through these middle-east organizations. It’s sad because many innocent people would not have lost their lives if poverty and unemployment wasn’t so bad. Many are just desperate for a better life and are willing to do anything to be out of their misery. I just wish that those countries are not hopeless due to the severe corruption and warfare.
This Saturday, September 27, 2008, marked the first space-walk for the Chinese space program. Returning home this Sunday after a successful mission orbiting the Earth. The three-manned capsule landing in the Mongolian desert to a large crowd of cameras and flowers. This is a historic event for manned space travel, making China part of a select group of space-fearing countries-mainly the United States and Russia. The 15 minute space walk conducted by Zhai Zhigang was a major step in the Chinese space program's goal to ultimately put a manned space station in Earth orbit. Next to the historic Chinese manned spaceflight in 2003, this event is of major historical and cultural significance to the Chinese people and the world.
For those unfamiliar with the Chinese space program, this event is a major accomplishment proving to the world that the Chinese are stepping up in the world stage. Only three countries-the United States, Russia, and China-have accomplished. The pace of the program is reminiscent of the early days of NASA in the late 1950s and the 1960s when the race between the United States and the Soviet Union ultimately produced manned missions to the moon and orbiting space platforms, such as Skylab, Mir, and the International Space station. In the past few decades, both the United States and the former Soviet Union have placed relatively small efforts towards their space programs. This new, emerging economy and global superpower of China is beginning to question the dominance of the United States and proving in another field that China is ready to compete.
The original article can be found at: http://news.bbc.co.uk/2/hi/science/nature/7640301.stm
Stephanie Adams
Big cities have been taking the blame for the majority of greenhouse gas emissions around the globe but recent studies have suggested otherwise. The U.N Climate Change Panel suggests that only 30 to 40 percent of emissions come from large cities, a number that differs greatly from Bill Clinton’s and Michael Bloomberg’s 75 to 80 percent blame on large cities.
Large cities typically don’t hold many of the industrial factories pumping out emissions. The people who live in large cities don’t have the space to create as much trash or waste as much electricity as those who live in rural areas. Those who live in the suburbs and rural areas, tend to have larger living spaces that have to be heated and spend more time commuting and using cars. The studies also show that greater amounts of emissions don’t necessarily mean there are higher living standards in those areas. Cities in the
Researchers from
http://www.reuters.com/article/environmentNews/idUSTRE48O9V120080925
Brazil exporters hit hard on Currency Bets.
The two largest Brazilian exporters confirmed a massive currency related loss in profit, investors fled emerging markets and weakened Brazil’s economy – making them the countries first big victims of ongoing financial turmoil.
Short and simply, the profit made by these companies has decreased due to a mixture of sales and Brazilian currency. Sadia SA, one of Brazil’s biggest food companies (exporter of Chicken and beef), said it lost US$406 million on the currency market this year, more than its entire profit in 2007. Brazil’s currency, the real, has dipped 15.5 percent since August 4th, as global financial crisis has prompted investors to flee emerging markets. The net loss is predicted to be more than the net profit after taxes and interest.
The weight of the nations’ respective currency is another critical point of interest in this global market. And it’s the delicate balance between industry, employment, and dollar that must be corrected for an ideal and stable economy.
Miguel. A. Torres.
http://www.iht.com/articles/ap/2008/09/26/business/LT-Brazil-Economy.php
9.26.08 - 2:42 p.m.

Danielle Plesser
SOC202
September 26, 20008, 1:40 PM
I read two articles for this one entry, I hope that’s all right. The articles discuss a meeting that took place in New York this week to discuss the Millennium Development Goals and the efforts that should be made at this half-way mark to ensure they are achieved. Dr. Noeleen Heyzer focused at the gathering on the gender inequality prevalent in the Asia-Pacific region. She noted statistics about maternal deaths and female illiteracy that showed that South Asia has a long way to go before these Millennium Development Goals can be met.
I’d never heard of the Millennium Development Goals, so I looked them up. They include eight goals and twenty one targets within those goals. They were set in the year 2000 to be achieved by the year 2015. They’re fairly standard ‘fix the world’ sorts of goals: eradicate world hunger, ensure that everyone is offered primary education no matter where they are or what gender they are, so on and so forth. A sweet little dream, I guess. But honestly, I found it completely unrealistic. The goals require the cooperation of the whole world, and while 189 UN member states have promised to participate, that’s still not the whole world , and I even doubt that they’ll all do their share.
About South Asia in particular, I felt that the first article (from Bernama.com) was more objective about the matter. Even though they both listed the same statistics and concentrated on the same woman’s words, the second article (from Bangkok Post) was more like a column, with Dr. Noeleen Heyzer authoring the article herself and declaring that South Asia should work harder to improve these conditions for women. She was entirely too optimistic in my opinion as well. She offered no solutions or suggestions and merely stated: “We have the resources. We have the expertise.” If that was all it took to fix problems dealing with gender inequality, the world would be a much more balanced place already. But she did make one good point, which was only mentioned in the first article: gender inequality is hurting the region financially. There’s something interesting- I wish they had elaborated on that more.
Article 1: http://www.bernama.com/bernama/v5/newsindex.php?id=360868
Article 2: http://www.bangkokpost.com/250908_News/25Sep2008_news23.php
A project, coordinated by the Global Crop Diversity Trust, has started to search for food crops with characteristics that will be able to weather changes in the climate. These “climate proof” crops are being found through searching national seed banks and screening seeds to find ones with natural resistance to temperature swings, droughts and floods. In order to avoid a food production crisis during such events, these crops must produce more food on the same amount of land, with less water and more expensive energy.
This hunt is the newest development in the Global Crop Diversity Trust’s plans for conserving the varieties of the world’s crops. Experts on the main food crops, such as wheat, rice, lentils, and maize have been meeting for the last few years in order to discuss the best conservation tactics for each of the crops. These meetings provide the organization with the scientific basis for almost everything they do, including the “Doomsday seed vault” in the Arctic, a vault that contains enough seeds to repopulate the earth with plants if a catastrophe happens.
Over the next year or two, the projects researchers plan on creating a comprehensive profile of the “climate-proof” characteristics in each of the crops they study. They will put this data online, where anyone can research what kinds of crops they should use in certain kinds of weather. Developing these kinds of crops is also something campaigners for GMOs are interested in, and they hope this research will lessen public opposition to GMO food.
I think that this is a really good idea. If anything drastic happens in our weather patterns we definitely need to have a backup plan or else huge populations of the world could starve. This also makes me reconsider GMOs, although I am generally opposed to them. If genetically modifying crops could help them withstand weather and help feed more people, I could not be opposed to that.
http://news.bbc.co.uk/2/hi/science/nature/7622920.stm