Mumbai, Sept 28- Global retail giant, Wal-Mart, in its joint venture with Bharti Enterprises, plans to open 15 outlets in its wholesale format by end-2011, a top company official said.
The company currently operates 3 cash and carry stores in the country at Amritsar, Ludhiana and Jalandhar.
ÒOur plans on the cash and carry business to open 15 outlets by end-next year is on track. We are opening 4 outlets in Rajasthan, Madhya Pradesh, Vijayawada and Hyderabad by mid- next year,Ó Bharti Walmart's Head, Raj Jain, told reporters on the sidelines of the India Retail Forum here, today.
Bharti Enterprises and US-based Wal-Mart Stores
entered into a joint venture in August 2007 and started
cash-and-carry stores named 'BestPrice Modern Wholesale' in
2009.
On its sales, Jain said a good monsoon and a good growth in the economy this year is likely to boost overall sales.
Wednesday, September 29, 2010
Thursday, September 9, 2010
Judicial Watch Obtains Never-Before-Released FBI Records Regarding Late Senator Ted Kennedy
Documents Detail Connections to Suspected Communist Operatives
WASHINGTON, Sept. 8 - Judicial Watch, the public interest group that investigates and prosecutes government corruption, announced today that it has obtained 23 new pages of documents from the Federal Bureau of Investigation (FBI) file of late Senator Edward Moore "Ted" Kennedy, who died in August 2009. Judicial Watch obtained the records pursuant to a Freedom of Information Act (FOIA) lawsuit filed on June 9, 2010.
Among the new documents is a memo dated March 28, 1963, that details the FBI's concern over an effort by Edward and Robert Kennedy to pressure the State Department to allow Katalin Karady, a Hungarian emigre living in Brazil - described as "consistently refused an immigrant visa because of the voluminous subversive and derogatory data on file concerning her" - to enter the United States:
Legat, Rio de Janeiro, has furnished data from State Department files, Sao Paulo, Brazil indicating that in August, 1961, Edward and Robert Kennedy, now U.S. Senator and Attorney General, respectively, were interested in [Katalin Karady's] obtaining an immigrant visa to U.S. Subject is former Hungarian actress of unsavory reputation who has now obtained the immigrant visa...
...Subject, Hungarian-born, aged 48, is former well-known actress in Hungary. Numerous allegations have been received in the past indicating subject to have been a communist collaborator, lesbian, and prostitute. She has reportedly admitted being the fiancee of the head of Hungarian intelligence (Nazi) during World War II.
(FBI Director J. Edgar Hoover seems to have handwritten the note "I am speechless!" at the bottom of this memo.)
Another document, dated December 28, 1961, details Senator Kennedy's attempts to meet with "Leftists" in Central and South America:
In July, 1961, Edward Kennedy made a familiarization and orientation tour of Central and South American countries. During this tour, the Mexico City Legal Attache reported that Kennedy had expressed an interest in meeting with "Leftists" to talk with them and determine why they think as they do. Kennedy met with a number of individuals known to have communist sympathies. ...Subsequently, a State Department official in Lima, Peru, confidentially advised that Kennedy had made a similar request in Peru, and this official described Kennedy as "pompous and a spoiled brat."
In August, 1961, a confidential source advised that Edward Kennedy had recently dined with Dr. Lauchlin Bernard Currie, former White House Aide to President Roosevelt. Currie's name had been mentioned in Washington investigations of Soviet spy rings.
Judicial Watch continues to fight for the release of an additional 48 pages of documents being withheld by the FBI. United States District Judge Richard Roberts will hold a scheduling conference October 6, 2010.
"These documents help complete the public record of one of the most controversial politicians in U.S. history," said Judicial Watch President Tom Fitton. "It is a shame the 'transparent' Obama administration continues to slow-walk the release of these documents."
WASHINGTON, Sept. 8 - Judicial Watch, the public interest group that investigates and prosecutes government corruption, announced today that it has obtained 23 new pages of documents from the Federal Bureau of Investigation (FBI) file of late Senator Edward Moore "Ted" Kennedy, who died in August 2009. Judicial Watch obtained the records pursuant to a Freedom of Information Act (FOIA) lawsuit filed on June 9, 2010.
Among the new documents is a memo dated March 28, 1963, that details the FBI's concern over an effort by Edward and Robert Kennedy to pressure the State Department to allow Katalin Karady, a Hungarian emigre living in Brazil - described as "consistently refused an immigrant visa because of the voluminous subversive and derogatory data on file concerning her" - to enter the United States:
Legat, Rio de Janeiro, has furnished data from State Department files, Sao Paulo, Brazil indicating that in August, 1961, Edward and Robert Kennedy, now U.S. Senator and Attorney General, respectively, were interested in [Katalin Karady's] obtaining an immigrant visa to U.S. Subject is former Hungarian actress of unsavory reputation who has now obtained the immigrant visa...
...Subject, Hungarian-born, aged 48, is former well-known actress in Hungary. Numerous allegations have been received in the past indicating subject to have been a communist collaborator, lesbian, and prostitute. She has reportedly admitted being the fiancee of the head of Hungarian intelligence (Nazi) during World War II.
(FBI Director J. Edgar Hoover seems to have handwritten the note "I am speechless!" at the bottom of this memo.)
Another document, dated December 28, 1961, details Senator Kennedy's attempts to meet with "Leftists" in Central and South America:
In July, 1961, Edward Kennedy made a familiarization and orientation tour of Central and South American countries. During this tour, the Mexico City Legal Attache reported that Kennedy had expressed an interest in meeting with "Leftists" to talk with them and determine why they think as they do. Kennedy met with a number of individuals known to have communist sympathies. ...Subsequently, a State Department official in Lima, Peru, confidentially advised that Kennedy had made a similar request in Peru, and this official described Kennedy as "pompous and a spoiled brat."
In August, 1961, a confidential source advised that Edward Kennedy had recently dined with Dr. Lauchlin Bernard Currie, former White House Aide to President Roosevelt. Currie's name had been mentioned in Washington investigations of Soviet spy rings.
Judicial Watch continues to fight for the release of an additional 48 pages of documents being withheld by the FBI. United States District Judge Richard Roberts will hold a scheduling conference October 6, 2010.
"These documents help complete the public record of one of the most controversial politicians in U.S. history," said Judicial Watch President Tom Fitton. "It is a shame the 'transparent' Obama administration continues to slow-walk the release of these documents."
Former Assistant Vice President of GE Capital Files $10 Million Lawsuit After Being Punished for Revealing Fraud
STAMFORD, Conn., Sept. 8 - Edward Gormbley, a former Assistant Vice President at General Electric Capital Services, filed suit in Connecticut Superior Court today seeking $10 Million from GE. Mr. Gormbley's complaint asserts that GE Capital retaliated and constructively discharged him after he complained that GE Capital fraudulently overvalued one of its largest investment assets, Momentive Performance Materials ("Momentive").
Gormbley, a "Top-Talent" employee of GE, filed the Complaint after the Company cut his compensation, reduced his responsibilities and destroyed his professional reputation after he repeatedly expressed legitimate concerns to his superiors that GE Capital's valuation methods resulted in a grossly inflated valuation of Momentive in 2008.
Gormbley is represented in the matter by Sanford Wittels & Heisler LLP, in Washington, D.C.
"Mr. Gormbley repeatedly was warned to keep what he knew about GE Capital's valuation of Momentive to himself," said David Sanford. "When Gormbley refused to play GE's games, GE swiftly and brutally retaliated against him."
In addition to GE Capital Services, the suit names General Electric Company, GE Equity, GE Company Chair and CEO Jeffrey Immelt, and a number of other high-ranking corporate executives as defendants.
Gormbley was hired by GE in 2000, joining its Financial Management Program. After working in a wide range of divisions throughout the company, he joined GE Commercial Finance, a subdivision of GE Capital in 2006. Throughout his rise through the ranks, he earned and maintained a spot on the top rung of the company's forced ranking system. His strong, positive performance also won him a coveted position on GE's corporate audit staff.
In mid-2008, Gormbley became concerned because he recognized that GE's valuation of Momentive was inflated by some $2 billion. He shared these conclusions with his superiors. They were not appreciative.
GE's first response to Gormbley's bad news was to ignore the message. When Gormbley persisted in making his concerns known to an increasing circle of individuals in the company, GE's answer was to kill the messenger.
In early October 2008, while the financial sector was in a state of turmoil, GE announced a $12 billion stock offering, touting the company's financial soundness and pledging to maintain its high quarterly dividend. Yet, at the same time, it was becoming increasingly clear that GE Capital was in trouble. In fact, in private meetings with Bush administration Treasury Department officials, including then-Treasury Secretary Henry Paulson, Immelt expressed concerns about GE and GE Capital's finances and financial stability.
In November and December 2008, Gormbley continued to warn GE about Momentive's declining performance and recommended that GE Equity take a write down of Momentive's valuation. Gormbley was explicitly and implicitly warned to stop talking about Momentive's decline and its effects on GE. Gormbley's superiors instructed him to change his valuation methodologies for Momentive calculations and to stop "making things so difficult."
In January of 2009 Gormbley's concerns about GE's over-valuation of Momentive were confirmed. At that time, GE Equity received Momentive's board book verifying that the value of Momentive had plummeted. With this written corroboration of his concerns, Mr. Gormbley sent an email to the President of GE Capital and other senior GE officials in which he again advocated a write-down of Momentive. In response, GE chastised Mr. Gormbley for making the situation public and discouraged him from speaking at meetings.
But Gormbley would not stay silent. He had witnessed and objected to GE Capital's overstatement of Momentive's value and its concealment and misrepresentation of faulty valuation data to internal controllers, external auditors, and the Securities and Exchange Commission. In its February 2009 Form 10-K filing, GE chose not to include the most updated valuation information for Momentive, thereby violating the SEC's reporting requirements.
In response, GE Equity's leadership initiated a campaign of retaliation that ended Gormbley's career at the company and caused him severe financial and emotional harm. The retaliation included removing him from a team of energy investment professionals, prohibiting him from pursuing new deals, passing him over as a board observer on an investment deal in which he has served as lead underwriter, reducing his performance rating, cutting his year-end bonus, removing him from the Momentive account, excluding him from meetings essential to his performance, delaying his 2009 performance review, refusing him the opportunity to work from home or utilize flex time, and threatening to revoke a $133,000 loan.
"GE did everything it could possibly do to discredit me, ruin my reputation within the company and generally make my life miserable," said Gormbley. "When I asked Human Resources to investigate the retaliation I was being regularly subjected to, my requests were ignored. To preserve my professional reputation and financial security, I finally had to resign."
The Complaint calculates damages at over $10 million.
Sanford Wittels & Heisler is a law firm with offices in Washington, D.C., New York, and San Francisco that specializes in employment discrimination, wage and hour, consumer and complex corporate class action litigation and has represented thousands of individuals in some of the major class action cases in the United States. The firm also represents individual clients in employment, employment discrimination, sexual harassment, whistleblower, public accommodations, commercial, medical malpractice, and personal injury matters
Gormbley, a "Top-Talent" employee of GE, filed the Complaint after the Company cut his compensation, reduced his responsibilities and destroyed his professional reputation after he repeatedly expressed legitimate concerns to his superiors that GE Capital's valuation methods resulted in a grossly inflated valuation of Momentive in 2008.
Gormbley is represented in the matter by Sanford Wittels & Heisler LLP, in Washington, D.C.
"Mr. Gormbley repeatedly was warned to keep what he knew about GE Capital's valuation of Momentive to himself," said David Sanford. "When Gormbley refused to play GE's games, GE swiftly and brutally retaliated against him."
In addition to GE Capital Services, the suit names General Electric Company, GE Equity, GE Company Chair and CEO Jeffrey Immelt, and a number of other high-ranking corporate executives as defendants.
Gormbley was hired by GE in 2000, joining its Financial Management Program. After working in a wide range of divisions throughout the company, he joined GE Commercial Finance, a subdivision of GE Capital in 2006. Throughout his rise through the ranks, he earned and maintained a spot on the top rung of the company's forced ranking system. His strong, positive performance also won him a coveted position on GE's corporate audit staff.
In mid-2008, Gormbley became concerned because he recognized that GE's valuation of Momentive was inflated by some $2 billion. He shared these conclusions with his superiors. They were not appreciative.
GE's first response to Gormbley's bad news was to ignore the message. When Gormbley persisted in making his concerns known to an increasing circle of individuals in the company, GE's answer was to kill the messenger.
In early October 2008, while the financial sector was in a state of turmoil, GE announced a $12 billion stock offering, touting the company's financial soundness and pledging to maintain its high quarterly dividend. Yet, at the same time, it was becoming increasingly clear that GE Capital was in trouble. In fact, in private meetings with Bush administration Treasury Department officials, including then-Treasury Secretary Henry Paulson, Immelt expressed concerns about GE and GE Capital's finances and financial stability.
In November and December 2008, Gormbley continued to warn GE about Momentive's declining performance and recommended that GE Equity take a write down of Momentive's valuation. Gormbley was explicitly and implicitly warned to stop talking about Momentive's decline and its effects on GE. Gormbley's superiors instructed him to change his valuation methodologies for Momentive calculations and to stop "making things so difficult."
In January of 2009 Gormbley's concerns about GE's over-valuation of Momentive were confirmed. At that time, GE Equity received Momentive's board book verifying that the value of Momentive had plummeted. With this written corroboration of his concerns, Mr. Gormbley sent an email to the President of GE Capital and other senior GE officials in which he again advocated a write-down of Momentive. In response, GE chastised Mr. Gormbley for making the situation public and discouraged him from speaking at meetings.
But Gormbley would not stay silent. He had witnessed and objected to GE Capital's overstatement of Momentive's value and its concealment and misrepresentation of faulty valuation data to internal controllers, external auditors, and the Securities and Exchange Commission. In its February 2009 Form 10-K filing, GE chose not to include the most updated valuation information for Momentive, thereby violating the SEC's reporting requirements.
In response, GE Equity's leadership initiated a campaign of retaliation that ended Gormbley's career at the company and caused him severe financial and emotional harm. The retaliation included removing him from a team of energy investment professionals, prohibiting him from pursuing new deals, passing him over as a board observer on an investment deal in which he has served as lead underwriter, reducing his performance rating, cutting his year-end bonus, removing him from the Momentive account, excluding him from meetings essential to his performance, delaying his 2009 performance review, refusing him the opportunity to work from home or utilize flex time, and threatening to revoke a $133,000 loan.
"GE did everything it could possibly do to discredit me, ruin my reputation within the company and generally make my life miserable," said Gormbley. "When I asked Human Resources to investigate the retaliation I was being regularly subjected to, my requests were ignored. To preserve my professional reputation and financial security, I finally had to resign."
The Complaint calculates damages at over $10 million.
Sanford Wittels & Heisler is a law firm with offices in Washington, D.C., New York, and San Francisco that specializes in employment discrimination, wage and hour, consumer and complex corporate class action litigation and has represented thousands of individuals in some of the major class action cases in the United States. The firm also represents individual clients in employment, employment discrimination, sexual harassment, whistleblower, public accommodations, commercial, medical malpractice, and personal injury matters
Michael Lynch Memorial Foundation Announces 2010 Scholarship Recipients
NEW YORK, Sept. 8 - The Michael Lynch Memorial Foundation, a program that has provided $1.6 million in college scholarships to children of firefighters and victims of the September 11 attacks as well as other U.S. disasters, today announced its 2010 grant recipients.
The awards, which this year totaled more than $250,000, go to high-school students who have demonstrated academic excellence, participated actively in school programs and athletics, and contributed selflessly to their communities, often while working part-time jobs to help support themselves. The Foundation also announced that its annual golf outing this year will be held on Friday, September 17 at Pelham Golf Course in the Bronx, New York.
This year's grant recipients are: Lisa Berrios (University of Delaware), Claire Buser (College of William and Mary), Jaclyn Calia (Villanova University), Chelsea Collins (Fashion Institute of Technology), Amy Gardner (Quinnipiac University), Taylor Ginley (Florida International University), Michael House (Cornell University), Conor Jones (Fordham University), Robert Klein (SUNY Albany), Christina Mockler (Muhlenberg College), Henry Walker (Villanova University), and Brian Wren (Providence College).
The Michael Lynch Memorial Foundation began in response to a terrible tragedy - the loss of Michael Lynch, a son, brother, fiance, uncle and New York City firefighter who sacrificed his own life on September 11 in an effort to save others. Facing the ultimate loss, the Lynch family saw an opportunity to help finance the education of young people as a living tribute to the human spirit and the family's collective resolve to respond to adversity with courage, strength, compassion and hope. The goal of the Foundation is to provide the means to help change the world, one person at a time, by helping the students of today become tomorrow's stewards of peace and freedom.
Lou Ann Eckert-Lynch, wife of Michael's brother John and director of the scholarship selection committee, said, "The Foundation is proud to support the 2010 scholarship recipients. These young people possess leadership qualities that will enable them to help build a future of peace and freedom for us all. We hope that Michael's example will teach them about hope, honor and facing adversity with courage, strength and compassion."
Jonathan S. Henes, a partner in the Restructuring Group at Kirkland & Ellis LLP who served as Honorary Chairperson of the Foundation's eighth annual dinner, said, "We are particularly pleased that we were able to increase the number of grant recipients this year, from 10 to 12, due largely to the tremendous success of the annual dinner in March, which raised more than $500,000 for the Foundation. In addition, the Foundation has been able to increase the amount of the scholarship for all 42 current participants by 20 percent - to $24,000 per year for four years. The strong support for the Foundation from the restructuring community, as well as other corporate and individual donors, directly and meaningfully benefits the lives of the scholarship recipients."
This year's grant recipients will be honored at the Foundation's 9th annual awards dinner on March 28, 2011 at Pier 60 at Chelsea Piers.
Annual Golf Outing
The scholarship program is funded by events like the Michael Lynch Memorial Foundation Annual Golf Outing, which this year will be held on Friday, September 17 at Pelham Golf Course in the Bronx, New York. Breakfast will be served starting at 7 AM and the golf will begin at 8 AM. The event is chaired by Michael Lynch's brother Thomas Lynch.
"The golf outing is a reflection of Michael's generosity to people while he lived," Thomas Lynch said. "The outpouring of support from the community and camaraderie that mark the event capture the essence of who Michael was and what the Foundation is all about. Everyone who participates shares our commitment to providing more scholarships and giving back in Michael's name."
The golf will be followed by a party at Michael's Restaurant at American Turners Club (748 Clarence Ave. in the Bronx), which will include dinner, a raffle, and prizes.
The awards, which this year totaled more than $250,000, go to high-school students who have demonstrated academic excellence, participated actively in school programs and athletics, and contributed selflessly to their communities, often while working part-time jobs to help support themselves. The Foundation also announced that its annual golf outing this year will be held on Friday, September 17 at Pelham Golf Course in the Bronx, New York.
This year's grant recipients are: Lisa Berrios (University of Delaware), Claire Buser (College of William and Mary), Jaclyn Calia (Villanova University), Chelsea Collins (Fashion Institute of Technology), Amy Gardner (Quinnipiac University), Taylor Ginley (Florida International University), Michael House (Cornell University), Conor Jones (Fordham University), Robert Klein (SUNY Albany), Christina Mockler (Muhlenberg College), Henry Walker (Villanova University), and Brian Wren (Providence College).
The Michael Lynch Memorial Foundation began in response to a terrible tragedy - the loss of Michael Lynch, a son, brother, fiance, uncle and New York City firefighter who sacrificed his own life on September 11 in an effort to save others. Facing the ultimate loss, the Lynch family saw an opportunity to help finance the education of young people as a living tribute to the human spirit and the family's collective resolve to respond to adversity with courage, strength, compassion and hope. The goal of the Foundation is to provide the means to help change the world, one person at a time, by helping the students of today become tomorrow's stewards of peace and freedom.
Lou Ann Eckert-Lynch, wife of Michael's brother John and director of the scholarship selection committee, said, "The Foundation is proud to support the 2010 scholarship recipients. These young people possess leadership qualities that will enable them to help build a future of peace and freedom for us all. We hope that Michael's example will teach them about hope, honor and facing adversity with courage, strength and compassion."
Jonathan S. Henes, a partner in the Restructuring Group at Kirkland & Ellis LLP who served as Honorary Chairperson of the Foundation's eighth annual dinner, said, "We are particularly pleased that we were able to increase the number of grant recipients this year, from 10 to 12, due largely to the tremendous success of the annual dinner in March, which raised more than $500,000 for the Foundation. In addition, the Foundation has been able to increase the amount of the scholarship for all 42 current participants by 20 percent - to $24,000 per year for four years. The strong support for the Foundation from the restructuring community, as well as other corporate and individual donors, directly and meaningfully benefits the lives of the scholarship recipients."
This year's grant recipients will be honored at the Foundation's 9th annual awards dinner on March 28, 2011 at Pier 60 at Chelsea Piers.
Annual Golf Outing
The scholarship program is funded by events like the Michael Lynch Memorial Foundation Annual Golf Outing, which this year will be held on Friday, September 17 at Pelham Golf Course in the Bronx, New York. Breakfast will be served starting at 7 AM and the golf will begin at 8 AM. The event is chaired by Michael Lynch's brother Thomas Lynch.
"The golf outing is a reflection of Michael's generosity to people while he lived," Thomas Lynch said. "The outpouring of support from the community and camaraderie that mark the event capture the essence of who Michael was and what the Foundation is all about. Everyone who participates shares our commitment to providing more scholarships and giving back in Michael's name."
The golf will be followed by a party at Michael's Restaurant at American Turners Club (748 Clarence Ave. in the Bronx), which will include dinner, a raffle, and prizes.
Wounded Warrior Project (WWP) Introduces Web Advocate
Online interactive tool offers information on benefits to empower warriors
JACKSONVILLE, Fla., Sept. 8 - Beginning today, wounded warriors injured in the current conflicts will have access to a new and cutting edge resource designed to educate them about the benefits and compensation they are entitled to as a result of their injuries.
In addition to offering full time benefits counselors on staff to assist with the Department of Veterans Affairs (VA) Disability Compensation claims process, Wounded Warrior Project will now offer Web Advocate, an online tool available to warriors 24 hours a day, 7 days a week. Using an easy, interactive body map, warriors will be able to pinpoint their injuries and receive immediate feedback on their VA disability ratings and compensation as well as ancillary benefits.
"Wounded Warrior Project's mission is to honor and empower wounded warriors," said John Roberts, Executive Vice President of Mental Health and Warrior Engagement. "We know how cumbersome and frustrating the claims process can be. It is our hope that by offering our warriors this information in an accessible way, we are educating them and working to ensure they receive the benefits they so rightly deserve."
Armed with the knowledge they gain from the site, warriors can address their benefits and compensation concerns with WWP counselors and be better informed when working with the VA. Wounded Warrior Project is the only veteran's service organization to create and offer a new and innovative program of this kind.
About Wounded Warrior Project
The mission of the Wounded Warrior Project is to honor and empower wounded warriors. Its purpose is to raise awareness and to enlist the public's aid for the needs of injured service members, to help injured men and women aid and assist each other, and to provide unique, direct programs and services to meet their needs. WWP is a national, nonpartisan organization headquartered in Jacksonville, FL. To get involved and learn more, visit www.woundedwarriorproject.org
JACKSONVILLE, Fla., Sept. 8 - Beginning today, wounded warriors injured in the current conflicts will have access to a new and cutting edge resource designed to educate them about the benefits and compensation they are entitled to as a result of their injuries.
In addition to offering full time benefits counselors on staff to assist with the Department of Veterans Affairs (VA) Disability Compensation claims process, Wounded Warrior Project will now offer Web Advocate, an online tool available to warriors 24 hours a day, 7 days a week. Using an easy, interactive body map, warriors will be able to pinpoint their injuries and receive immediate feedback on their VA disability ratings and compensation as well as ancillary benefits.
"Wounded Warrior Project's mission is to honor and empower wounded warriors," said John Roberts, Executive Vice President of Mental Health and Warrior Engagement. "We know how cumbersome and frustrating the claims process can be. It is our hope that by offering our warriors this information in an accessible way, we are educating them and working to ensure they receive the benefits they so rightly deserve."
Armed with the knowledge they gain from the site, warriors can address their benefits and compensation concerns with WWP counselors and be better informed when working with the VA. Wounded Warrior Project is the only veteran's service organization to create and offer a new and innovative program of this kind.
About Wounded Warrior Project
The mission of the Wounded Warrior Project is to honor and empower wounded warriors. Its purpose is to raise awareness and to enlist the public's aid for the needs of injured service members, to help injured men and women aid and assist each other, and to provide unique, direct programs and services to meet their needs. WWP is a national, nonpartisan organization headquartered in Jacksonville, FL. To get involved and learn more, visit www.woundedwarriorproject.org
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