| Country | Date | Significant event |
|---|---|---|
| Afghanistan | August 19 | Independence from United Kingdom control over Afghan foreign affairs in 1919. |
| Albania | November 28 | (Dita e Pavarësisë) Proclaimed by Ismail Qemali in 1912 and signalled the end of five centuries of Ottoman rule. |
| Algeria | July 5 | Independence from France in 1962 |
| Angola | November 11 | Portugal grants independence to its former colony in 1975. |
| Antigua and Barbuda | November 1 | Partial independence from the United Kingdom in 1981. |
| Argentina | July 9 | Independence from Spain in 1816. |
| Armenia | September 21 | Independence from the Soviet Union in 1991. |
| Australia | January 1 | Independence from the United Kingdom in 1901. |
| Azerbaijan | October 18 | Independence from the Soviet Union in 1991. |
| Bahamas | July 10 | Independence from the United Kingdom in 1973. |
| Bahrain | August 15 | Independence from the United Kingdom in 1971. |
| Bangladesh | March 26 | Declaration of independence from Pakistan in 1971. Start of the Bangladesh Liberation War |
| Barbados | November 30 | Independence from the United Kingdom in 1966. |
| Belarus | July 3 | Liberation of Minsk from Nazi Germany in 1944. |
| Belgium | October 4 | (Belgian revolution) Independence from the Netherlands in 1830. |
| Belize | September 21 | Independence from the United Kingdom in 1981. |
| Bosnia and Herzegovina | March 1 | Independence from the Socialist Federal Republic of Yugoslavia in 1992. |
| Botswana | September 30 | Independence from the United Kingdom in 1966. |
| Brazil | September 7 | (Sete de Setembro) Independence from Portugal in 1822. |
| Brunei | January 1 | Independence from United Kingdom in 1984 |
| Bulgaria | September 22 | Independence from Ottoman Empire in 1908 |
| Burkina Faso | August 5 | Independence from France in 1960 |
| Burundi | July 1 | Independence from Belgium in 1962 |
| Canada | July 1 | Independence from Britian rule through the British North America Act of July 1, 1867, known as Canada Day or Confederation Day. |
| Cape Verde Islands | July 5 | (Cape Verde Independence Day) Independence from Portugal in 1975. |
| Central America | September 15 | Celebrated in Guatemala, Honduras, El Salvador - September 14, Nicaragua, and Costa Rica, the former states of the United States of Central America, who achieved independence from Spain or Mexico on this date in 1821. |
| Chile | September 18 | Independence from Spain in 1818. |
| China, People's Republic of | October 1 | Established in 1949. |
| Colombia | July 20 | Independence from Spain in 1810. |
| Democratic Republic of the Congo | June 30 | |
| Croatia | October 8 | Independence from Yugoslavia in 1991. |
| Republic of Cyprus | October 1 | Independence from United Kingdom in 1960. |
| Czech Republic | October 28 | As Czechoslovakia, marking restored independence from Austria-Hungary in 1918. |
| Dominican Republic | February 27 | Independence from Haiti in 1844, after a 22-year occupation. |
| East Timor | May 20 | Independence from Indonesia in 2002. |
| Ecuador | August 10 and May 24 | Proclaimed independence from Spain in August 10, 1809, but failed with the execution of all the conspirators of the movement in August 2, 1810. Independence finally occurred in May 24, 1822 at Battle of Pichincha. |
| Estonia | February 24 | Independence from Imperial Russia in 1918. |
| Finland | December 6 | Independence from Russia in 1917. |
| The Gambia | February 18 | Independence from the United Kingdom in 1965. |
| Georgia | May 26 | Independence from Russia in 1918. |
| Ghana | March 6 | Independence from the United Kingdom in 1957. |
| Greece | March 25 | Declaration of independence from Ottoman Empire in 1821. Start of the Greek War of Independence |
| Guyana | May 26 | Independence from the United Kingdom in 1966. |
| Haiti | January 1 | Independence from France in 1804. |
| Iceland | June 17 | Independence from Denmark in 1944. |
| India | August 15 | (Independance Day) Independence from the United Kingdom in 1947. |
| Indonesia | August 17 | Proclamation of Independence day (Hari Proklamasi Kemerdekaan R.I.) Independence from Japan in 1945. |
| Israel | 5 Iyar | (Yom Ha'atzmaut) celebrated on Tuesday, Wednesday or Thursday nearest to that date, so could actually occur between 3rd and 6th of Iyar, which could occur between April 15 and May 15. The Gregorian date in which Israeli independence was proclaimed is May 14, 1948 (from the United Kingdom). |
| Jamaica | August 6 | Independence from the United Kingdom in 1962. |
| Jordan | May 25 | Independence from the United Kingdom in 1946. |
| Kazakhstan | December 16 | Independence from the Soviet Union in 1991. |
| Kenya | December 12 | Independence from the United Kingdom in 1963. |
| Korea, North | September 9 | Founding of the DPRK in 1948. |
| Korea, South | August 15 | (Gwangbokjeol) Independence from Japan in 1945. |
| Kyrgyzstan | August 31 | Independence from USSR in 1991. |
| Latvia | May 4 | (Neatkaribas deklaracijas pasludinasanas diena) Independence from the Soviet Union in 1990. |
| November 18 | (Latvijas Republikas proklamesanas diena) Independence from Soviet Russia in 1918. | |
| Lebanon | November 22 | Independence from France in 1943. |
| Lesotho | October 4 | Independence from United Kingdom in 1966. |
| Lithuania | February 16 | Independence from Imperial Russia in 1918. |
| Macedonia | September 8/May 25 | (Den na nezavisnosta or Ден на независноста) Independence from Yugoslavia in 1991. |
| Malawi | August 31 | (Hari Merdeka) Independence from the United Kingdom in 1957 |
| Malaysia | July 6 | Independence from the United Kingdom in 1964 |
| Maldives | July 26 | Independence from the United Kingdom in 1965 |
| Mali | September 22 | Independence from France in 1960 |
| Malta | September 21 | (Independence Day (Malta)) Independence from the United Kingdom in 1964. |
| Mauritius | March 12 | Independence from the United Kingdom in 1968. |
| Mexico | September 16 | Declared Independence from Spain on that date in 1810, not Recognized until September 27, 1821 |
| Moldova | August 27 | Independence from the Soviet Union in 1991 |
| Mongolia | November 26 | Independence from China in July 11, 1921 |
| Montenegro | June 3 | Independence from the State Union of Serbia and Montenegro in 2006. Vote of secession occurred May 21, 2006. |
| Morocco | March 2 | Independence from France and Spain in 1956 |
| Mozambique | June 25 | Independence from Portugal in 1975 |
| Myanmar | January 4 | Independence from United Kingdom in 1948 |
| Namibia | March 21 | Independence from South African mandate in 1990 |
| Niger | August 3 | Independence from France in 1960 |
| Nigeria | October 1 | Independence from United Kingdom in 1960 |
| Norway | June 7 | Independence from Sweden in 1905. Commonly celebrated on May 17th, the Constitution Day set by siging of the Norwegian Constitution at Eidsvoll in 1814. |
| Pakistan | August 14 | (Yaum e Azadi) Independence from the United Kingdom and Separation from India in 1947. |
| Panama | November 3 | Independence from Colombia in 1903. |
| Papua New Guinea | September 16 | Independence from Australia of the former Territories of New Guinea, and Papua, in 1975. |
| Paraguay | May 15 | (Día de Independencia) Independence from Spain in 1811. |
| Peru | July 28 | Independence from Spain in 1821. |
| Philippines | June 12 | (Araw ng Kalayaan) Independence from Spain in 1898. |
| Poland | November 11 | (Święto Niepodległości) Restoration of Poland's independence from Austria, Prussia, and Russia in 1918. |
| Portugal | December 1 | Restoration of Portugal's independence (from Spain) in 1640.
The country's original independence (from the Kingdom of León) was recognized on the 5th of October of 1143. That day is a holiday in Portugal, but for a different reason. (Implantation of the Republic, or Republic Day. Event of 1910.) Note that none of these events are similar to today's declarations or recognition of independence as these are in fact the recognition of the rule of a king to the land. Portugal existed as a separated entity before 1143 and during the union with Spain between 1580-1640. |
| Romania | May 9 | Independence from the Ottoman Empire in 1877. |
| Russia | June 12 | (Russia Day) |
| Rwanda | July 1 | Independence from Belgium in 1962. |
| Serbia | February 15 | The beginning of the First Uprising against Ottoman occupation in 1804. |
| Seychelles | 29 June | Independence from the United Kingdom in 1976. |
| Singapore | August 9 | (National Day) marks exit / separation from Malaysia in 1965. |
| Slovakia | July 17 | Declaration of Independence (only a remembrance day), but the independence came only on January 1, 1993 from the division of Czechoslovakia (public holiday). |
| Slovenia | December 26 | (Independence and Unity Day) Date of the release of the official results of the independence plebiscite in 1990, confirming secession from Yugoslavia. |
| South Africa | Dec 11 | Independence from the United Kingdom in 1931. Not a public holiday. Union of South Africa formed on 31 May 1910 and Republic of South Africa declared on 31 May 1961 |
| Sri Lanka | February 4 | Independence from the United Kingdom in 1948. |
| Suriname | November 25 | Independence from The Netherlands in 1975. |
| Swaziland | September 6 | Independence from the United Kingdom in 1968. |
| Sweden | June 6 | Independence from the Kalmar Union in 1523. |
| Switzerland | August 1 | Alliance against the Holy Roman Empire in 1291. |
| Tajikistan | September 9 | Independence from the Soviet Union in 1991. |
| Trinidad and Tobago | August 31 | Independence from the United Kingdom in 1962. |
| Tonga | June 4 | Independence from the United Kingdom in 1970. |
| Turkey | October 29 | Declared independence in 1923. |
| Turkish Republic of Northern Cyprus | November 15 | Declared independence in 1983. |
| Ukraine | August 24 | Independence from the Soviet Union in 1991. |
| United Arab Emirates | December 2 | Independence from Britain in 1971. |
| United States | July 4 | (Fourth of July) Declaration of independence from Great Britain in 1776. |
| Uruguay | August 25 | (Día de la Independencia) Declaration of independence from Brazil in 1825. |
| Uzbekistan | September 1 | Independence from USSR in 1991. |
| Venezuela | July 5 | Declaration of independence from Spain in 1811. |
| Vietnam | September 2 | Declaration of independence from France in 1945. |
| Western Sahara (SADR) | February 27 | Declaration of independence from Spain in 1976. |
| Yemen | November 30 | South Yemen Declaration of independence from United Kingdom in 1967. |
| Zambia | October 24 | Declaration of independence from United Kingdom in 1964. |
| Zimbabwe | April 18 | Declaration of independence from United Kingdom in 1980. |
|
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| AMERIRESOURCE TECHS (OTC BB:AMRE.OB) Delayed quote data |
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Carla Patterson, 38, and her 22-year-old son, Ricky Patterson, sought $500,000 from the chain after claiming they found the rodent in the vegetable soup the woman ordered at a Newport News restaurant on Mother's Day weekend in 2004.
A jury convicted the Pattersons of conspiracy to commit extortion in April. The Pattersons maintained their innocence, but evidence included tests showed the mouse had not been cooked and had not drowned but instead died of a fractured skull.
Carla Patterson wept Wednesday as a judge imposed the jail sentence and a $2,500 fine. Defense lawyer Michael Woods said Patterson plans to appeal.
Black men slept least: only 5 hours and 6 minutes a night. That was even less than the six hours they said they got on weeknights. They also took longest to fall asleep (about 36 minutes), spent the least time in bed (about seven hours), and slept least efficiently (73.2% of their time in bed).
These gender and racial differences persisted even when the researchers took various factors, such as income and employment, into account. However, lower income was associated with taking longer to get to sleep and lower sleep efficiency.
" .
my new website coming soon
( I hope his soul rotten in hell where he belongs)
Honey : Kenneth Lay is Dead ( I hope his soul rotten in hell where he belongs)
News of Lay's death has been met largely with catcalls and mockery, whichmay suggest that he's ultimately getting what he deserved. If there is a fate worse than dying and having no one care, it must be dying and having millions of people be pretty happy about it. Such, we must believe, is the fate of Kenneth Lay. He had all of the hustings of greatness, but threw them away in the quest for more, destroying the livelihoods of thousands in the process. It's not so much tragic as pathetic.Thus the conflict that we -- and perhaps most people -- feel today. A man is dead. But he's a man who hurt a lot of people, and whom most despised.
|
چاپ کن | ||
| بازگشت به صفحه نخست |
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| Round of 16 | Quarter-finals | Semi-finals | Final | Semi-finals | Quarter-finals | Round of 16 |
|---|
| 3rd Place | ||
L61 |
L62 | |
Match 63 | ||
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Warren Buffett: Korea, for the past six years, offered extraordinary values, but in most of them we couldn't [invest] hundreds and hundreds of millions of dollars. We found 20 companies at good values, with good balance sheets, at three times earnings. I don't understand why they were so cheap. People knew about the larger companies, like Samsung, but not the smaller ones. Plus, the won [South Korea's unit of currency] was at 950 [to the dollar], and we knew that it would rise. I use this as an example that the markets were not efficient. You can go to the KSE [Korea Stock Exchange], which is just as good as the SEC, yet you would see prices where you can double or triple your money.
Charlie Munger: Are we happy Iscar has a strong presence in Korea? Sure.
WB: You bet.
CM: I live surrounded by Koreans in L.A. I would regard Korean culture and what they've created as one of the most remarkable in the history of capitalism. We don't think it's an accident that Iscar discovered Korea. If you try to find 10 countries better than Korea ... you won't get through one hand. We are huge admirers of Korea.
[Editor's note: Berkshire purchased Iscar, an Israeli tool-cutting manufacturer, earlier this year. Iscar has a business presence in South Korea.]
Q: Why didn't you buy more Wal-Mart (NYSE: WMT - News)? Does this say something of its value?
WB: Well, you don't know whether we bought more. [Laughs.] ... The valuation strikes us as reasonable, but not a screaming bargain. Charlie?
CM: I have nothing to add.
Q: You have expressed an interest in international investing now. Which countries are the friendliest for acquisitions, and which are worse?
WB: There are dozens of countries. Below a certain size, they become too small for our needs. It's not like there are 200-plus countries [under consideration]. It is wherever we feel comfortable, but maybe 25 countries. We don't have a list.
CM: As for what we like least, we don't want kleptocracies. We need a rule of law. If people are stealing from the companies, we don't need that.
WB: If Coca-Cola (NYSE: KO - News) makes $20 million in a [smaller] country, that is good, because it can double that to $40 million in a year. But we won't go there and invest $20 million.
Q: Is this the right time to invest in Europe, and Italy specifically?
WB: That's a fertile field. We haven't been on the radar over there, so I hope this [Iscar] investment makes people aware. We own some in the U.K., but we have to report all purchases above 3% of a company there. You can expect us to buy more in Europe -- not because of currency considerations, but it is an added benefit. Icing on the cake.
Q: What do you think of the retail pharmacy sector?
WB: We don't have any special views in pharmacy. I want to know: What's the moat on the business? Sometimes, you can get a product or size advantage.
A person buying candy is not going to take the low bid. If you go buy candy for your spouse or your sweetheart -- which I hope is the same person -- you won't hand her a box of chocolates on your anniversary and say, "Here, honey, I took the low bid."
In retailing, we have to be pretty convinced there is a moat.
[Editor's note: Buffett also mentioned that some retailers are becoming brand names themselves.]
CM: We missed Walgreen (NYSE: WAG - News). If we ever owned a share of Walgreen, Warren hid it from me.
WB: In the crafts world, Michaels (NYSE: MIK - News) is the one [to watch] ... it's not clear why to me, though.
We've seen a lot of others lose their edge -- [one of them being Sears Holdings' (Nasdaq: SHLD - News)] Sears, in 1968, to Wal-Mart.
CM: If someone is buying a Snickers or Hershey bar, people walk in with a known pleasure; they have a known expectation.
WB: Most people do not buy a candy bar they haven't eaten before.
CM: We're the tortoise that has outrun the hare because it chose the easy predictions.
Q: What do you think about shareholder activism?
WB: I have mixed emotions. I want to look at the individual case. Many activists want to see the stock go up next week and say goodbye. I've wrestled with that question as long as I've been investing. Tom Murphy was running Cap Cities when it was selling for less than half what it should have been. Does that mean it should be broken up?
[Editor's note: Thomas Murphy was CEO of Capital Cities/ABC until Disney (NYSE: DIS - News) bought the company in 1996.]
CM: The U.S. is exporting poison to Europe.
[Editor's note: Munger was speaking about corporate pay practices that are now being adopted in Europe, as well as undesirable actions such as leveraged-buyout specialists buying a business, dressing it up, and quickly dumping it. He likened these corporate raiders to Genghis Khan.]
Q: How do you reconcile your views against derivatives as "financial WMD" while you have global options?
WB: We don't think derivatives themselves are evil; it's the way they are used. There is nothing wrong with interest-rate swaps and forex [foreign exchange market] contracts, but we're worried about some of the consequences. It can lead to financial disaster or exacerbate one that starts for a different reason. I believe this will happen. But I was involved with puts and calls when I was 21.
CM: [In reference to why executives don't look seriously at the problem:] They don't look because it is embarrassing. What we have is high leverage, huge greed, and contemptible accounting. There's a huge interdependency of financial institutions based on others' assets, trillions of contracts, and multiple variables. Auditors have no chance.
WB: I once got a call on a Sunday morning; it was a guy from Long-Term Capital Management. He said, "Would you like to buy total return swaps?" Now, if you ask the Federal Reserve -- which puts a 50% margin requirement on margin accounts -- if it would be appropriate to be leveraged to the hilt, 100%, and do it for billions of dollars, and do it over and over again ...
Blessed are the meek, that they should inherit the Earth ... but the question is, after they inherit the Earth, will they stay meek?
Q: You talk about the problem with helpers in the markets. Is there anything else that is ...
[Editor's note: The questioner danced around what she wanted to say in an attempt to word it politely. Eventually, Buffett interrupted her and said:]
WB: A ripoff? Yes.
[Editor's note: Buffett told the story of an unscrupulous appliance store nearby -- a competitor to Berkshire-owned Nebraska Furniture Mart -- where the salesmen were "too stupid to remember the commission rating they got for selling certain appliances." To solve the problem, the store started putting the commission number (7.4, 8.1, etc.) on tags on the appliances. When the customers asked, "What does that number mean?" the salesman would reply, "Oh, that's the consumer rating." The higher "consumer rating" would have a higher commission number.]
CM: Everywhere there is a large commission, there is a high probability of a ripoff.
Q: What are your current criteria for foreign investments? Are they different now from what has been in the annual report for years?
WB: No, we still stay within our circle of competence. [We seek] good businesses with a durable competitive advantage, and able and trustworthy management. Location is not important.
CM: We have a problem outside the U.S. because we aren't well known. The reason we could buy Iscar is because [Iscar was] so smart. We weren't smart enough to find them; they were smart enough to find us.
There are a lot of countries in Asia with a similar culture to Iscar. I wouldn't be surprised to see a similar thing happen in Asia.
WB: The nice thing is that there are others out there [similar to Iscar in the international market], but there aren't really any other Berkshires out there.
Q: How can President Bush get out of Iraq? Can we get out?
CM: Once you're in, there aren't any good options. I could see how very reasonable people could be on either side. If you're confident you know the answer and are correct [on how to get out], you're probably stupid.
WB: There's not a good answer for you. When we were in US Air, there weren't any good answers.
CM: One big plus in the Iraq situation, which I haven't heard anyone else really mention, is that we all know a lot better now what we're up against. We're all wiser on both sides of the issue.
[Editor's note: Our correspondent missed the next question.]
WB: When GM (NYSE: GM - News) wanted to give retirement benefits, the accounting rules were such that there were no accounting costs. GM had to decide between a small known cost (paying a few cents per hour more), or a huge unknown cost [retirement/medical benefits], and it chose the huge unknown cost. GM essentially went short health care. Can you imagine going short the cost of lifetime health care?
Q: Can you tell us more about the $15 billion acquisition? What is the chance it will go through? Plus more on your general acquisition policy?
[Editor's note: Buffett was working on the a $15 billion deal at the time but gave few details.]
WB: Well, I said yesterday during the meeting that I thought the chance of it going through was quite remote; it hasn't gotten less remote in the past 24 hours. We can't manufacture opportunities and feel no compulsion to buy.
Stay tuned for Part 2 of the press conference, right here at Fool.com.
Wal-Mart and Coca-Cola are Motley Fool Inside Value recommendations.
Disney is a Motley Fool Stock Advisor pick.
Do you like the taste of juicy organic apples from Washington? They're not bad, but they could taste sweeter if each one didn't involve a cup of gasoline.
In your quest to eat healthier food and do better by the environment, you might want to place more value on local food products than on organic foods.
It might seem sacrilegious to pooh-pooh organic food—that is, food grown in pooh-pooh as opposed to synthesized fertilizers and pesticides. But as revealed in the June issue of Sierra magazine, the environmental price for organic foods is sometimes hidden.
Simply put, one must consider transportation costs. Apples grown in the state of Washington are trucked, on average, more than 1,700 miles. That adds up to a cup of gasoline used to ship each apple. California grapes require up to 4 cups of gasoline per bunch when shipped across the country. And so on.
These calculations were originally published in 2004 in a book chapter in "Environment Development and Sustainability 6," by David Pimentel of Cornell University and his colleagues.
Go local
Also, mass-produced foods, either grown by organic or conventional methods, are usually picked well before ripening to prevent rotting during shipping. They are less tasty and contain fewer vitamins and minerals compared to local varieties. In fact, this summer is a good time to visit a local farmers' market and talk to the sellers about these issues.
I'm not anti-organic. I need to state that up front considering the angry email I received after I suggested that visiting untrained, unlicensed naturopaths practicing medicine based on medieval superstition could harm your health. I am, after all, reading Sierra, the pro-environmental magazine of the Sierra Club.
I merely hope to point out that blindly buying organically can be foolhardy.
Consider that unless you are eating rocks, all food is organic. Technically, organic refers to anything with a chain of hydrogen and carbon atoms. All living organisms are organic. So is gasoline. So is dry-cleaning fluid, which I now see advertised as "organic" by unscrupulous merchants capitalizing on the public perception that "organic" equals "safe."
What's in a word
The word "organic" has come to mean plant-based food grown without synthetic fertilizers, as well as animals fed organic food during the few months to few years they were alive. It doesn't inherently mean healthy or fair.
Organic manure could contain lead and cadmium, naturally. Organic junk foods can be just as unhealthy as conventional junk food, albeit with organic fat and sugar. The organic label says nothing about the rights of Central American workers growing organic bananas in squalid conditions, nor is it concerned with the similarly disgusting conditions in which organic meat, eggs and dairy products are often manufactured.
After all, organic is big business these days—nearly $14 billion in 2005, according to the Organic Trade Association—and big business is often business as usual.
Not so with local farming.
Local almost always means small-scale and thus more environmentally benign, fresher, healthier and cruelty-free. Talk to the farmer at the farmers' market. He might use a little pesticide but likely not much because the food product is well-suited to the environment.
Less gas
The apples I buy at a farmers' market in Baltimore are grown less than 50 miles away, and each apple "consumes" less than a teaspoon of gas on its journey to the market. Unlike the strangely happy cow on a carton of Horizon organic milk, the cows producing the (non-organic but hormone-free) milk sold locally walk freely and feed on grass and hay; they're not pen-raised and fed organic grains they cannot digest, as can be the case with some organic milks.
With support of local farms, fewer farms get turned into asphalt-covered shopping malls and housing complexes, which in turn means fewer natural wetlands, forests and deserts are turned into mass-commercial farms. Supporting local farms, organic or not, also fights our perverse global food market in which $20 million in U.S.-grown lettuce is exported to Mexico while $20 million Mexican-grown lettuce is imported to the United States each year, as reported in the May-June issue of Mother Jones.
Some of the food at my farmers' market is organic; other food is not. I don't worry so much, as long as it is local. I can trust the food because I'm buying it from the person who produced it.
To do that, one of the options it has is to ask the public for money.
It comes out with a public or new issue. The company offers shares and the public buys those shares. These shares are listed on the Stock Exchange.
People who invest in the company get rewarded (as dividends) by the company, or sell the shares as the share price rises.
shares. Unfortunately, some brokerage firms have restrictions over which
customers can take part in IPOs, but it is worth a shot to try if you like a company that is going public.
Dozens of factories that turn corn into the gasoline substitute ethanol are sprouting up across the nation, from Tennessee to Kansas, and California, often in places hundreds of miles away from where corn is grown.
Once considered the green dream of the environmentally sensitive, ethanol has become the province of agricultural giants that have long pressed for its use as fuel, as well as newcomers seeking to cash in on a bonanza.
The modern-day gold rush is driven by a number of factors: generous government subsidies, surging demand for ethanol as a gasoline supplement, a potent blend of farm-state politics and the prospect of generating more than a 100 percent profit in less than two years.
The rush is taking place despite concerns that large-scale diversion of agricultural resources to fuel could result in price increases for food for people and livestock, as well as the transformation of vast preserved areas into farmland.
Even in the small town of Hereford, in the middle of the Texas Panhandle's cattle country and hundreds of miles from the agricultural heartland, two companies are rushing to build plants to turn corn into fuel.
As a result, Hereford has become a flashpoint in the ethanol boom that is helping to reshape part of rural America's economic base.
Despite continuing doubts about whether the fuel provides a genuine energy saving, at least 39 new ethanol plants are expected to be completed over the next 9 to 12 months, projects that will push the United States past Brazil as the world's largest ethanol producer.
The new plants will add 1.4 billion gallons a year, a 30 percent increase over current production of 4.6 billion gallons, according to Dan Basse, president of AgResources, an economic forecasting firm in Chicago. By 2008, analysts predict, ethanol output could reach 8 billion gallons a year.
For all its allure, though, there are hidden risks to the boom. Even as struggling local communities herald the expansion of this ethanol-industrial complex and politicians promote its use as a way to decrease America's energy dependence on foreign oil, the ethanol phenomenon is creating some unexpected jitters in crucial corners of farm country.
A few agricultural economists and food industry executives are quietly worrying that ethanol, at its current pace of development, could strain food supplies, raise costs for the livestock industry and force the use of marginal farmland in the search for ever more acres to plant corn.
"This is a bit like a gold rush," warned Warren R. Staley, the chief executive of Cargill, the multinational agricultural company based in Minnesota. "There are unintended consequences of this euphoria to expand ethanol production at this pace that people are not considering."
Mr. Staley has his own reasons to worry, because Cargill has a stake in keeping the price of corn low enough to supply its vast interests in processed food and livestock.
But many energy experts are also questioning the benefits of ethanol to the nation's fuel supply. While it is a renewable, domestically produced fuel that reduces gasoline pollution, large amounts of oil or natural gas go into making ethanol from corn, leaving its net contribution to reducing the use of fossil fuels much in doubt.
As one of the hottest investments around, however, few in farm country want to hear any complaints these days about the risks associated with ethanol. Archer Daniels Midland, the politically connected agricultural processing company in Decatur, Ill., and the industry leader that has been a longstanding champion of transforming corn into a fuel blend, has enjoyed a doubling in its stock price and profits in the last year.
One ethanol producer has already sold shares to the public and two more are planning to do so. And the get-rich-quick atmosphere has drawn in a range of investors, including small farm cooperatives, hedge funds and even Bill Gates.
For all the interest in ethanol, however, it is doubtful whether it can serve as the energy savior President Bush has identified. He has called for biofuels — which account for just 3 percent of total gasoline usage — to replace roughly 1.6 million barrels a day of oil imported from the Persian Gulf.
New Jobs, New Life
To fill that gap with corn-based ethanol alone, agricultural experts say that production would have to rise to more than 50 billion gallons a year; at least half the nation's farmland would need to be used to grow corn for fuel. But that isn't stopping out-of-the-way towns looking for ways to pump life into local economies wracked by population loss, farm consolidation and low prices from treating the rush into ethanol as a godsend.
"These projects are bringing 100 new jobs to our town," said Don Cumpton, Hereford's director of economic development and a former football coach at the high school. "It's not as if Dell computer's going to be setting up shop here. We'd be nuts to turn something like this down."
That the United States is using corn, among the more expensive crops to grow and harvest, to help meet the country's fuel needs is a testament to the politics underlying ethanol's 30-year rise to prominence. Brazilian farmers produce ethanol from sugar at a cost roughly 30 percent less.
But in America's farm belt, politicians have backed the ethanol movement as a way to promote the use of corn, the nation's most plentiful and heavily subsidized crop. Those generous government subsidies have kept corn prices artificially low — at about $2 a bushel — and encouraged flat-out production by farmers, leading to large surpluses symbolized by golden corn piles towering next to grain silos in Iowa and Illinois.
While farmers are seeing little of the huge profits ethanol refiners like Archer Daniels Midland are banking, many farmers are investing in ethanol plants through cooperatives or simply benefiting from the rising demand for corn. With Iowa home to the nation's first presidential caucuses every four years, just about every candidate who visits the state pays obeisance to ethanol.
"There is zero daylight" between Democrats and Republicans in the region, said Ken Cook, president of Environmental Working Group, a nonprofit research policy group in Washington, and a veteran observer of agricultural politics. "All incumbents and challengers in Midwestern farm country are by definition ethanolics."
The ethanol explosion began in the 1970's and 1980's, when ADM's chief executive, Dwayne O. Andreas, was a generous campaign contributor and well-known figure in the halls of Congress who helped push the idea of transforming corn into fuel.
Ethanol can be produced from a number of agricultural feed stocks, including corn and sugar cane, and someday, wheat and straw. But given the glut in corn, the early strategy of Mr. Andreas was to drum up interest in ethanol on the state level among corn farmers and persuade Washington to provide generous tax incentives. But in 1990, when Congress mandated the use of a supplement in gasoline to help limit emissions, ADM lost out to the oil industry, which won the right to use the cheaper methyl tertiary butyl ether, or MTBE, derived from natural gas, to fill the 10 percent fuel requirement.
Past Scandal
Adding to its woes, ADM was marred by scandal in 1996 when several company executives, including one of the sons of Mr. Andreas, were convicted of conspiracy to fix lysine markets. The company was fined $100 million. Since then, ADM's direct political clout in Washington may have waned a bit but it still pursues its policy preferences through a series of trade organizations, notably the Renewable Fuels Association.
Some 14 months ago the company hired Shannon Herzfeld, a leading lobbyist for the pharmaceutical industry. But she is not a registered lobbyist for ADM and said in an interview that the company was maintaining its long-held policy that it does not lobby Congress directly.
"Nobody is deferential to ADM," contended Ms. Herzfeld, who says she spends little time on Capitol Hill.
But ADM has not lost interest in promoting ethanol among farm organizations, politicians and the news media. It is by far the biggest beneficiary of more than $2 billion in government subsidies the ethanol industry receives each year, via a 51-cent-a-gallon tax credit given to refiners and blenders that mix ethanol into their gasoline. ADM will earn an estimated $1.3 billion from ethanol alone in the 2007 fiscal year, up from $556 million this year, said David Driscoll, a food manufacturing analyst at Citigroup.
[And the company may be concerned by the recent statement by Energy Secretary Samuel W. Bodman, who suggested that if prices remain high, lawmakers should consider ending the ethanol subsidy when it expires in 2010. "The question needs to be thought about," he said on Friday.]
ADM has huge production facilities that dwarf those of its competitors. With seven big plants, the company controls 1.1 billion gallons of ethanol production, or about 24 percent of the country's capacity. ADM can make more than four times what VeraSun, ADM's closest ethanol rival, can produce.
Last year, spurred by soaring energy prices, the ethanol lobby broke through in its long campaign to win acceptance outside the corn belt, inserting a provision in the Energy Policy Act of 2005 that calls for the use of 5 billion gallons a year of ethanol by 2007, growing to at least 7.5 billion gallons in 2012. The industry is now expected to produce about 6 billion gallons next year.
The phased removal of MTBE from gasoline, a result of concerns that the chemical contaminates groundwater and can lead to potential health problems, hastened the changeover. Now, government officials are also pushing for increasing use of an 85-percent ethanol blend, called E85, which requires automakers to modify their engines and fuel injection systems.
In the ultimate nod to ADM's successful efforts, Mr. Bodman announced the new initiatives in February at the company's headquarters in Illinois.
"It's been 30 years since we got a call from the White House asking for the agriculture industry, ADM in particular, to take a serious look at the possibilities of building facilities to produce alternative sources of energy for our fuel supply in the United States," said G. Allen Andreas, ADM's chairman and Dwayne Andreas' nephew.
Now, ADM is betting even more of its future on ethanol, embracing a shift from food processing to energy production as its focus. In April, it hired Patricia A. Woertz, a former executive from the oil giant Chevron, as the company's new chief executive.
While ADM has pushed ethanol, rivals like Cargill have been more skeptical. To Mr. Staley, ethanol is overpromoted as a solution to the nation's energy challenges, and the growth in production, if unchecked, has the potential to ravage America's livestock industry and harm the nation's reliability as an exporter of corn and its byproducts.
Threat to Food Production
"Unless we have huge increases in productivity, we will have a huge problem with food production," Mr. Staley said. "And the world will have to make choices."
Last year corn production topped 11 billion bushels — second only to 2004's record harvest. But many analysts doubt whether the scientists and farmers can keep up with the ethanol merchants.
"By the middle of 2007, there will be a food fight between the livestock industry and this biofuels or ethanol industry," Mr. Basse, the economic forecaster, said. "As the corn price reaches up above $3 a bushel, the livestock industry will be forced to raise prices or reduce their herds. At that point the U.S. consumer will start to see rising food prices or food inflation."
If that occurs, the battleground is likely to shift to some 35 million acres of land set aside under a 1985 program for conservation and to help prevent overproduction. Farmers are paid an annual subsidy averaging $48 an acre not to raise crops on the land. But the profit lure of ethanol could be great enough to push the acreage, much of it considered marginal, back into production.
Mr. Staley fears that could distract farmers from the traditional primary goal of agriculture, raising food for people and animals. "We have to look at the hierarchy of value for agricultural land use," he said in a May speech in Washington. "Food first, then feed" for livestock, "and last fuel."
And even Cargill is hedging its bets. It recently announced plans to nearly double its American ethanol capacity to 220 million gallons a year. Meanwhile, the flood of ethanol plant announcements is making the American livestock industry nervous about corn production. "I think we can keep up, assuming we get normal weather," said Greg Doud, the chief economist at the National Cattlemen's Beef Association. "But what happens when Mother Nature crosses us up and we get a bad corn year?"
Beyond improving corn yields, the greatest hope for ethanol lies with refining technology that can produce the fuel from more efficient renewable resources, like a form of fuel called cellulosic ethanol from straw, switchgrass or even agricultural waste. While still years away, cellulosic ethanol could help overcome the concerns inherent in relying almost exclusively on corn to make ethanol and make the advance toward E85 that much quicker.
"The cost of the alternative — of staying addicted to oil and filling our atmosphere with greenhouse gases, and keeping other countries beholden to high gasoline prices — is unacceptable," said Nathanael Greene, senior policy analyst at the Natural Resources Defense Council in New York. "We have to struggle through the challenges of growing and producing biofuels in the right way."
But the current incentives to make ethanol from corn are too attractive for producers and investors to worry about the future. With oil prices at $70 a barrel sharply lifting the prices paid for ethanol, the average processing plant is earning a net profit of more than $5 a bushel on the corn it is buying for about $2 a bushel, Mr. Basse said. And that is before the 51-cent-a-gallon tax credit given to refiners and blenders that incorporate ethanol into their gasoline.
"It is truly yellow gold," Mr. Basse said.

You know the world is screwed up when an erection that lasts 10 years can result in a judgment for $400K for the guy with the boner
former handyman has won more than $400,000 in a lawsuit over a penile implant that gave him a 10-year erection.
Charles "Chick" Lennon, 68, received the steel and plastic implant in 1996, about two years before Viagra went on the market. The Dura-II is designed to allow impotent men to position the penis upward for sex, then lower it.
But Lennon could not position his penis downward. He said he could no longer hug people, ride a bike, swim or wear bathing trunks because of the pain and embarrassment. He has become a recluse and is uncomfortable being around his grandchildren, his lawyer said.
Well, just let them try. It was precisely against this threat that the Pentagon has
invested $43 billion over the past five years, and 11 ground-based interceptors are now based in Alaska and California. Bring 'em on.
پيداست راه چه روشن!
آنجاست قله چه نزديك!
در انتظار طعمه هاي مردد نشسته اند
مرداب پشت سر
بيراهه در كنار.
اين بار مي جهيم
از دره هاي دهشت و جنگ و جنون و رنج
تا قله هاي روشن فرداي علم و كار
of knowing for so many years , I appreciate thie integrity , honesty
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services to anyone that needs a good reliable used cars
, too bad that there are not so many like them
around. It’s very hard to find a mechanic shop that would fix
your car & then refuse to accept the fee for doing so
I have one thing to say TO ALIREZA & GHOLAM REZA
THANK YOU ... THANK YOU , THANK YOU
Alireza , you need to click on neveshtehayeh pishin
( kordad , ordibehesht ) in order to load the previous pages.
Massoud