Care centers deny elderly the right to sex - paper

PARIS - Care facilities often deny elderly people the basic right, and one of their few remaining pleasures, to continue having sex, according to a paper published on Tuesday.

Many older people, including those with early stage dementia, enjoy sex while they live at home, but this changes once they move into residential care, said the Australian authors of a paper in the Journal of Medical Ethics.

They blame a lack of privacy, age discrimination, and fears about the legal implications should a patient be found mentally incompetent to give consent.

"The formation of relationships, physical intimacy, and the expression of sexuality are a basic human right and a normal and healthy part of ageing," wrote the authors from the Australian Centre for Evidence-Based Aged Care.

Yet most facilities do not have formal policy guidelines or staff training aimed at allowing residents to continue being sexually active.

"Privacy remains a problem, with residents often not able to lock their doors and most rooms equipped only with single beds," said the paper.

"For residents with dementia, sexuality is viewed with even greater anxiety, either being labelled 'inappropriate' or a 'challenging' behavior or as a risk to the resident."

The team acknowledged the difficulties in determining the legal threshold for informed consent in elderly patients with dementia, but argued this should not be an excuse for denying them their rights.

"It is important to remember that dementia is defined in stages, with early or mild dementia manifesting as mild forgetfulness or confusion that is often mistaken for a normal part of ageing," they wrote.

"Clearly there is a significant difference between the capabilities of a person with mild dementia and one with advanced or final-stage dementia and, therefore, a single approach to sexuality and 'people with dementia' is inappropriate."

source: interaksyon.com

US consumer confidence falls in second quarter - Nielsen

LONDON - Consumer confidence fell in the second quarter from early this year as slowing employment growth and an escalating euro zone crisis made Americans more cautious about the economic outlook, a survey showed on Monday.

Consumer sentiment in the world's biggest economy fell by 5 points in the second quarter from the first quarter to 87, according to a quarterly survey by global information and insights company Nielsen, conducted May 4-21.

A reading below 100 indicates consumers are pessimistic about the economic outlook for the coming months.

Only 34 percent of Americans were optimistic about their job prospects for the next six months, compared with 38 percent in a survey in the first quarter, the survey showed. Thirty three percent said now was not a good time to buy things they needed, down from 38 percent in the first-quarter survey.

The poll, covering 500 online respondents in the United States, showed that confidence fell after rising in the two previous quarters although it was still higher than levels seen last year.

"Consumer uncertainty prevails with weak job gains, instability in global financial markets and continued budget issues at local, state and national government level," said Todd Hale, senior vice president of consumer and shopper insights, Nielsen.

Concern for the economy - the top concern for U.S. consumers - increased from the first quarter, with 42 percent of consumers citing the economy as their main concern, up from 40 percent in the previous survey.

Seventy eight percent of Americans believed the economy was in recession. That was down from 83 percent in the previous survey, but 56 percent of those who saw a recession in the latest survey expected the downturn to last at least another 12 months.

The U.S. economy has been losing more steam since May when the survey was taken. Manufacturing, which had been one of the strongest links in an otherwise frail economic recovery, grew in June at its slowest pace in 11 months, suggesting weaker overseas demand and the euro zone debt crisis may be starting to take a toll.

Job creation has also slowed and the Federal Reserve launched another round of monetary stimulus last week to try and stimulate the economy. A recent sharp fall in oil prices, by $35 from March highs to around $90 a barrel, offers some positive news for consumers but its impact will take time to factor through to households.

The U.S. consumer confidence survey is part of the global quarterly Nielsen Survey of Consumer Confidence and Spending Intentions, established in 2005, which tracks consumer confidence, major concerns and spending intentions in 56 countries. The global survey will be published in July.

source: interaksyon.com

Tennis: Sharapova makes short work of Rodionova

LONDON - A brief encounter on Centre Court was all Maria Sharapova needed to renew her love affair with Wimbledon on Monday.

The world number one and top seed waved and blew kisses to the crowd, who gave her a standing ovation after a brisk 6-2, 6-3 pulverizing of Australian Anastasia Rodionova in her opening singles match.

"It's always a very nice feeling for me to be back on Centre Court. It's been a year," said last year's losing finalist. "It's such a special place for me.

"You know, it's quiet, but it's a very understated, nice feeling to be out there."

The French Open champion had said over the weekend that she was starting from scratch, getting back to reality and starting a "whole new ball game."

The reality looked more like making her opponent scratch around for whatever she could get.

The top seed, winner at Wimbledon in 2004 and looking to reach her third consecutive grand slam final, was 5-0 up with only three points dropped, before meeting some brief resistance as Rodionova held serve and then broke for 5-2.

The first two games of the second set went with serve before the powerful Russian romped into a 5-1 lead.

Rodionova delayed the inevitable with a break for 5-2, held serve for 5-3 and then crumbled again as Sharapova served out with an ace after 70 minutes on court.

"The first one's always tricky," Sharapova told reporters in a discussion that focused more on her Roland Garros win and return to the number one ranking.

"To go out there after not competing for a couple weeks, the transition from clay to grass, I thought I started off the match really well.

"I had a few letdowns towards the end of both of those sets. Overall I'm pretty happy with the way I performed, especially for a first match, not having matches coming in." - Reuters

source: gmanetwork.com

Fil-Pakistani Crowned Miss World-Philippines

MANILA, Philippines --- A 23-year-old Filipina-Pakistani candidate was crowned 2012 Miss World Philippines in a glittering televised beauty contest at the historic landmark Manila Hotel last Sunday night.

Queenierich Rehman, of Las Piñas City, bested 24 other candidates and earned the right to represent the Philippines in the 62nd Miss World beauty pageant to be held in Ordos, Inner Mongolia, China on Aug. 18, 2012. The Miss World contest is said to be the longest running beauty contest.

This is the second time in a row that a former Binibining Pilipinas candidate captured the Miss World crown. Last year, Gwendolyn Ruais, half French, won the Miss World Philippines title.

Rehman joined the 2011 Bb. Pilipinas beauty pageant won by Miss Universe third runner-up Shamcey Supsup. That year, Rehman also made the Top 15 semi-finalists and won the Best In Swimsuit award, the same special award she won in this year’s Miss World Philippines contest.

Ruais, who won First Princess in the 2011 Miss World beauty contest, was among the Top semifinalists in the 2010 Bb. Pilipinas beauty pageant won by eventual Miss Universe 3rd runner-up Ma. Venus Raj.

Rehman won P1 million cash, a car and other prizes from this year’s sponsors. She stands 5’7” and measures 33-25-34.

Aside from winning Best In Swimsuit, she also bagged seven special awards --- Miss Pantene, Miss AMA Beauty and Brains, Miss Photogenic, Miss Talent, Miss Philippines Prudential, and Miss World Traveler.

Rehman impressed the judges in the Q&A portion in which the Top 5 candidates answered questions from Tweets. The question she picked was: “As an ambassador of the Philippines, what are the best features of your country that you can project to the world?”

Rehman answered: “I believe that wherever you will go here in the Philippines, it’s not the islands that make us special but of course the Filipinos who have warm hospitality, who are having smiles on their faces, and of course who will treat all foreigners the love and respect, and hospitality that they can give to them. I believe that the Philippines is a country that we can be proud of.”

The beauty queen graduated at the Assumption College in Makati City. Her hobbies include Internet surfing, cooking, basketball, playing video games and singing.

Rehman attended high school at Southville International School. During high school and college, she was a varsity player in basketball. She was even named Rookie of the Year during college.

Asked what she will do after the pageant, Rehman said: “I’ll eat as much as I can. I will rest the whole day.’’

First Princess was Maryanne Ross Misa, 23, of Paranaque City. Misa also made the Top 10 cut of the 2010 Bb. Pilipinas pageant.

Misa, who stands 5’10,” picked the question “Have you ever been bullied? What can you advise people who are often bullied.’’

She answered: “Yes, I have been bullied back in my childhood days. And it just motivated me to prove those people wrong because I think if you have the dignity in yourself and the strong will that you can do things and people don’t think that you can, I think that’s what’s going to make you successful in life.’’

Second Princess was Vanessa Claudine Amman who, observers said, was one of the surprises in the Top 5 semifinals. She won special awards such as Miss Friendship, Miss Laguna World, and Miss MyPhone World.

Third Princess was April Love Jordan, 23, of Tondo, Manila. Like Misa and Rehman, Jordan was also a heavy favorite for the crown. Her special awards were Miss Manila Hotel, Best In Long Gown, and Miss OraCare.

Jordan, also a Bb. Pilipinas semifinalist in 2009, won the 1st International Beauty and Model Festival held in Beijing, China the same year. She bested 49 other international contestants.

Fourth Princess was Brenna Cassandra Gamboa. She was a recipient of special awards such as Best In Fashion Runaway, and Miss Manny O’ Wine.

Other winners of special awards included Marie Loraine De Guzman (tied with Rehman), Miss Talent; and Vania Valeri Vispo, People’s Choice.

Other candidates who made the Top 12 semifinalists were De Guzman, Vispo, Mariver Ocampo, Rufaida Babudin, Carla Terina Lizardo, Kaye Wigand, and Paulina Eliseeff.

Members of the Board of Judges included Manila Hotel President Atty. Jose “Joey” Lina, Becky Garcia, actress Lorna Tolentino, Ma. Fe Perez Agudo, top photographer Raymund Isaac, athlete James Younghusband, Sen. Ramon “Bong” Revilla Jr., Melinda Reyes, Robert Barerro, Emmanuel Lorenzana, and Clint Navales, among others.

Miss World is the only major beauty contest in which the Philippines has not won yet. The highest ranking the country has achieved in the pageant was First Princess won by Evangeline Pascual in 1973, the same title won by Ruais last year.

The reigning Miss World is Ivian Sarcos of Venezuela.

source: mb.com.ph

US New-Home Sales Rose at Fastest Pace in 2 Years

WASHINGTON (AP) — Americans bought new homes in May at the fastest pace in more than two years. The increase suggests a modest recovery in the housing market continues, despite weaker job growth.

The Commerce Department said Monday that sales of new homes increased 7.6 percent in May from April to a seasonally adjusted annual rate of 369,000 homes. That's the best pace since April 2010, the last month that buyers could qualify for a federal home-buying tax credit.

Even with the gains, the pace is less than half the 700,000 that economists consider to be healthy.

Still, the increase follows other signs that suggest the housing market is rebounding nearly five years after the bubble burst.

Builders are slowing gaining confidence in the market and starting to build more homes. Mortgage rates have plunged to the lowest levels on record, making home-buying more affordable. And sales of previously occupied homes are much higher than the same time last year.

Though new homes represent less than 20 percent of the housing market, they have an outsize impact on the economy. Each home built creates an average of three jobs for a year and generates about $90,000 in tax revenue, according to the National Association of Home Builders.

The gains in new homes sold were concentrated in two regions of the country last month. Sales surged 36.7 percent in the Northeast and 12.7 percent in the South. Sales fell 10.6 percent in the Midwest and were down 3.5 percent in the West.

The median price of a new home sold in May edged down 0.6 percent from the April to $234,500. But the price was 5.6 percent higher than the same month one year ago.

Sales of new homes are increasing despite a sluggish job market, which has slowed retail spending and business investment in computers and machinery. Some economists warned that the weaker job market has also started to affect some home sales.

Sales of previously occupied homes fell in May to a seasonally adjusted sales rate of 4.55 million after nearly touching a two-year high in April.

Still, sales have risen 9.6 percent from the same month last year.

Hiring slowed sharply in April and May, raising concerns about the strength of the recovery. Employers have added an average of only 73,000 jobs a month in April and May. That's much lower than the average of 226,000 added in the first three months of this year.

source: nytimes.com

Google celebrates gay pride with Easter egg

Internet giant Google marked Gay Pride with one of its Easter eggs: a rainbow ribbon that appears below the search bar.

The rainbow appears when a user types "Google Gay Pride," "LGBT," "gay," "lesbian," "NYC Gay Pride" and "SF Gay Pride," tech site Mashable said.

Mashable said Google has a history creating "whimsical" Easter eggs, often hidden in its search function.

It added Google is also known for its pro-gay rights stance.

Recently, Google publicly expressed its opposition to California’s Prop. 8, a constitutional amendment that took away the right of same-sex couples to marry, in a 2008 blog post written by co-founder Sergey Brin.

"While we respect the strongly-held beliefs that people have on both sides of this argument, we see this fundamentally as an issue of equality. We hope that California voters will vote no on Proposition 8 — we should not eliminate anyone’s fundamental rights, whatever their sexuality, to marry the person they love,” it quoted Brin as saying. — TJD, GMA News

article source: gmanetwork.com

MWC Gets Top Credit Rating

MANILA, Philippines --- Manila Water Company, Inc. (Manila Water) was assigned the highest Corporate Credit Rating of PRS Aaa (Corp.) by Philippine Rating Services Corporation (PhilRatings) as it has a very strong capacity to meet its financial obligations.

PhilRatings said the rating reflects Manila Water’s proactive management and competent technical staff with a proven track record and its efforts to expand its service areas to ensure continued growth.

The rating also took into consideration MWC’s sustained profit performance; and more than adequate liquidity position, financial flexibility and capitalization which can support additional debt.

PhilRatings noted that, throughout its operating history, Manila Water has been able to meet and even surpass its regulatory and financial targets, making efficient use of its capital, accumulated industry experience and partnerships.

The company’s management has also been very proactive in dealing with issues relating to the water industry, such as the development of new water sources.

Manila Water continues to increase its profitability with net income for the period rising by 7 percent from P3.98 billion in 2010 to P4.27 billion last year.

The trend continued in the first quarter of 2012 as net income improved by 64 percent to P1.34 billion, from P816 million for the same period last year.

MWC keeps comfortable levels of cash and short-term investments on hand. This amounted P5.89 billion as of end 2011 and further increased to P6.45 billion as of the end of the first quarter 2012.

The company likewise maintains healthy coverage ratios as EBITDA Interest Cover and Debt Service Coverage Ratio (DSCR) as of end 2011 were at 5.16x and 2.65x, respectively, reflecting Manila Water’s strong capacity to meet its current obligations.

MWC is currently undergoing its third Rate Rebasing period as the Concessionaire of the East Zone. It has already submitted the requirements for the process to the regulators and is expecting feedback within the year.

Given its prior experience with previous Rate Rebasing periods and a historically strong performance vis-à-vis regulatory standards and targets, the process is likely to go smoothly and result in the company’s continued viability and growth in the next five years.

source: mb.com.ph

Reviving Real Estate Requires Collective Action

IMAGINE that you are watching an outdoor theater production while sitting on the grass. You have difficulty seeing, so you prop yourself up on your knees. Soon everyone behind you does the same. Eventually, most people are kneeling or standing, yet they are less comfortable than they were before and have no better view. Everyone should sit down, and everyone knows it, but no one does.

This is a collective action problem, a phenomenon that is, unfortunately, all too common. At the moment, the trouble in our real estate markets and the drag these markets are placing on our entire economy may be understood as a collective action problem. In a nutshell, mortgage lenders need to write down the amounts owed by individual homeowners — that is, let everyone sit down and relax — but the different stakeholders have been unable to reach an agreement, even if it is in their common interest.

In the 1971 book “The Logic of Collective Action: Public Goods and the Theory of Groups,” the economist Mancur Olson argued that collective action problems are pervasive, plaguing nations and economic groups alike. “Most groups cannot provide themselves with optimal amounts of a collective good,” he said, because they cannot manage a “selective incentive” or arrange “coercion or some reward.”

In the current real estate market, the relevant group is enormous and complex. It includes those who own first and second mortgages or home equity lines of credit or residential mortgage-backed securities or the various tranches of mortgage collateralized debt obligations or shares in banks and finance companies that in turn own mortgages. These people live all over the world and have no way of communicating with each other, let alone coming to an agreement to give homeowners a break.

My colleague Karl Case and I showed in 1996 that when the value of a home falls below the value of the mortgage debt — when it is underwater — a person is much more likely to default on the mortgage. And it is well known that in foreclosures, lenders lose so much on the legal costs and depressed market values of the homes that it would be in their interest to lower mortgage balances so the homeowners stay in place and don’t default.

If such mortgage principal reductions could be applied on a large scale, there could be large neighborhood effects, raising a sense of optimism among homeowners and bolstering the value of all homes and, ultimately, the whole economy. But mortgage lenders in all their different forms lack a group strategy.

John Geanakoplos, a Yale economist, and Susan P. Koniak, a Boston University law professor, have proposed legislation that gives community-based, government-appointed trustees a central role. The trustees would have the authority to impose a write-down of mortgage principal that served the interests of mortgage issuers as a group, without having to prove that each and every one would be better off. But Congress has not acted on their idea. And so we are still lacking the authority to make everyone sit down.

ROBERT C. HOCKETT, a Cornell University law professor, has outlined another approach, which uses the principle of eminent domain, to solve this collective action problem. Eminent domain has been part of Western legal tradition for centuries. The principle allows governments to seize property, with fair compensation to owners, when a case can be made that such seizure serves the public interest.

Traditionally, we think of eminent domain law as applying to land and buildings. For example, a government can use eminent domain to seize real estate along a proposed new highway route so the highway can be built in a nice straight line. It would be absurd to expect the government to bargain with each property owner to buy a strip of land along the proposed highway route and to have to redirect the highway around a farm whose owner refused to sell. That is common sense.

But eminent domain law needn’t be restricted to real estate. It could be applied to mortgages as well. Governments could seize underwater mortgages, paying investors fair market value for them. This is common sense too. The true fair market value for these mortgages is arguably far below their face value, given the likelihood of default, with its attendant costs.

Professor Hockett argues that a government, whether federal, state or local, can start doing just this right now, using large databases of information about mortgage pools and homeowner credit scores. After a market analysis, it seizes the mortgages. Then it can pay them off at fair value, or a little over that, with money from new investors, issuing new mortgages with smaller balances to the homeowners. Taxpayers are not involved, and no government deficit is incurred. Since homeowners are no longer underwater and have good credit, they are unlikely to default, so the new investors can expect to be repaid.

The original mortgage holders, the investors in the new mortgages, the homeowners and the nation as a whole will generally be better off. There will surely be some who may not agree, like the holdout farmer opposing the highway, but eminent domain ought to be able to push ahead anyway.

San Bernardino County in California is working with a private company, Mortgage Resolution Partners, on the possibility of putting such a plan into action. We must hope this effort succeeds. If it works, it can be replicated all over the country.

But first we have to realize that much of our economic suffering takes the form of a collective action problem. We have to stop the wishful thinking that the problem will solve itself through a spontaneous rally in home prices. We need to summon our resources to exercise the authority that allows collective action.

Professor Koniak says the solution to this problem has been so slow in coming for a simple reason: “It’s the will that’s lacking! The will!”

article source: nytimes.com

Marcos Properties Up For Bid

MANILA, Philippines --- The government will auction two real estate properties that formerly belonged to the Marcos family in Baguio City in a public bidding in August.

The Presidential Commission on Good Government (PCGG) identified the properties up for as the 17,516.20 square-meter J.Y. Campos compound and the 2,677 square-meter Baguio Inn compound located along Outlook Drive North.

PCGG chairman Andres Bautista said the properties would be auctioned off for a minimum bid price of P152.691 million and P7.496 million, respectively.

Earlier, the PCGG Privatization Committee privatized the Hanz Menzi compound in the same prime location for P93 million, which the Commission has remitted to the Comprehensive Agrarian Reform Program fund.

“With the successful public auction in April 2012 of the Hanz Menzi compound also located in Outlook Drive North in Baguio City, which fetched more than P93-million or a premium of about P56-million from its minimum bid price of only P37-million, I have no doubt that the subject properties the PCGG will dispose will command the same level of interest from potential bidders,” Bautista said.

PCGG Commissioner for Asset Management Department Richard Amurao, who is designated in concurrent capacity as chairman of the Bids and Awards Committee for the properties, said the two properties are considered as good investment opportunities owing to its proximity to Wright Park and Mines View Park, two of the favorite tourist destinations in Baguio City.

Amurao emphasized that after bidding out the properties, the PCGG will endorse the results to the Privatization Council, which is chaired by the Department of Finance, for final approval.

“The proceeds of the sale would go to CARP as additional funding source as mandated by law,” Amurao said. PCGG’s efforts to recover ill-gotten wealth and privatize surrendered properties have generated P93.421 billion for government as of December 2011.

The J.Y. Campos compound and the Banaue Inn compound are among the assets and properties ceded to the Philippine Government in 1986 by Marcos crony Jose Yao Campos.

source: mb.com.ph

SSS 16-Hour Call Center

MANILA, Philippines --- The Social Security System (SSS) has opened a 16-hour call center where members can inquire about their loans, contributions, benefits and other similar concerns beyond working hours on weekdays.

SSS President and Chief Executive Officer Emilio de Quiros Jr. said that the agency’s service personnel may now respond to inquiries through SSS hotline numbers 920-6446 to 55, Mondays to Fridays, from 7 a.m. until 11 p.m.

“Employees manning the call center are trained to address a wide range of SSS inquiries. With a 16-hour window for calls, we can entertain more phone queries so more members can avoid problems such as having incomplete requirements or not knowing the location of their covering branch when filing loan and benefit applications," de Quiros said.

The 16-hour SSS call center is the newest among the agency’s line-up of services for members’ queries.

Inquiry facilities that provide round-the-clock services to members include the SSS website (www.sss.gov.ph), Text-SSS and the Interactive Voice Response System (IVRS).

De Quiros said over 164,000 members and employers have enrolled at the SSS website during the first quarter of 2012, which reflected a jump of 84 percent from only 89,000 new web registrants for the same period last year.

"The number of transactions coursed through the SSS website reached more than 129,000 in the first three months of this year. The most popular website transactions are submission of employers’ reports of newly-hired workers and online applications for salary loans," de Quiros said.

Text-SSS, an inquiry facility that enables members to receive SSS membership data through their mobile phones, recorded nearly 265,000 transactions during the first quarter of 2012, up from only 96,600 for the same period last year.

De Quiros said the expansion of Text-SSS services to cover inquiries on claim status, branch location and requirements for loans, benefits and registration helped boost the number of transactions and registered users.

About 220,000 members have registered in Text-SSS as of May 2012.

"We plan to extend call center hours to provide 24/7 service to members, especially for overseas Filipino workers who will then be able to call up SSS despite the difference in time zones. In the meantime, we offer members residing in the country our IVRS facility for simple phone inquiries," de Quiros added.

source: mb.com.ph