Thursday, March 17, 2011

Syfy's Face Off Gets Renewed for Season 2



... We knew a remake of the U.K. hit Being Human would be either pretty good or pretty bad. We're glad that Syfy agrees with us that it's pretty good. The network renewed Being Human for a second season today, just a bit over halfway through the run of its first season. Suggestion for Season 2: Branch out on your own! In other news, the U.K. version was renewed for a fourth season earlier this week. [Syfy via press release]
... Jimmy Smits is over the atrocity (hardly) known as Outlaw, which had the distinction of being one of the first shows canceled this season. Now Smits is moving on to something that could actually be good. He'll star as the mayor of Los Angeles in the NBC pilot S.I.L.A., a complex crime-law-politics drama fromTraffic writer Stephen Gaghan. [Deadline Hollywood]
... Damon Wayans has joined the CBS family, starring in the comedy pilot based on the life of ESPN personality Colin Cowherd. Yes, Colin Cowherd is being played by Damon Wayans. I know some of you out there like Colin Cowherd, but those some of you are wrong. [Deadline Hollywood]
... When I was a kid, I used to VCR MTV's 120 Minutes because it was on too late to stay up and watch. A VCR is this old machine that used a special kind of tape to record things. Now I will have a chance to DVR it! MTV is bringing back the alternative-music show on its MTV2 channel. The network has also dug up Matt Pinfield from his tomb and reanimated him to host. [MTV]
... Glee will do an album tribute in a future episode, earmarking Fleetwood Mac'sRumours as the source for an entire episode's music. "Typical that they would ignore the vastly superior Tusk," said the obnoxious hipster who actually still watches Glee. [LA Times]
... Nip/Tuck vet Dylan Walsh will co-star in the untitled CBS cop drama about a police consultant who has the ability to remember everything that's ever happened in her life. Walsh will play a detective who enlists her help, and yes, they have a steamy past—which I'm sure she'll remind and nag him about, because she remembers everything. Just like a woman! [Deadline Hollywood]
... Have you been wondering when USA's Covert Affairs and White Collar will be back? June 7! Now go find a new thing to wonder about! [Variety]
... ABC has picked up a new series! But... it's a silly reality game show. 101 Ways to Leave a Game Show will ask contestants trivia questions, and if they get one wrong, they will be executed by firing squad. Oh, wait, that was actually the 102nd way. If they get a question wrong, they will be "flown away strapped to the wing of a biplane, shot out of a cannon, pushed off the top of a moving semi-truck, dragged under water by a one-ton anchor or yanked off a deck by a speed boat." Also coming soon: 101 Ways to Sue ABC. [Deadline Hollywood]

Crippling legacy of endowments revealed

Property sale signs stacked against a wall
Payouts on endowment policies have crashed by 75% since the late Eighties and early Nineties when most were sold, according to Money Mail research.
The research lays bare the desperate failings of these investments, which have
Millions were sold in a commission-driven frenzy without regard to the risks they posed. More than 250,000 will pay out this year followed by another two million over the next five years.
Throughout the Nineties, many policies paid out more than £100,000 to homeowners who had saved £50 a month for 25 years — some paid as much as £120,000. Now most pay less than £30,000 and some little more than £20,000.
The vast majority won't produce enough to pay off the mortgage they were supposed to cover. Homeowners have been forced to pay extra each month on their mortgages, divert savings from elsewhere or carry on working past their planned retirement date.
Aviva warns that only 2% of its 63,000 mortgage endowments maturing this year will reach their target.
At Standard Life, 42,000 out of 44,000 policies will have a shortfall. Friends Provident warns 93% of policyholders can expect a shortfall, while at Axa Sun Life the figure is 71%.
With-profits endowments were sold alongside interest-only mortgages. Sales peaked between 1988 and 1992 — policies which will start maturing from now.
Homebuyers were promised their mortgage would be repaid and they'd get a tax-free lump sum on top. They were told their money would grow as guaranteed annual bonuses were added to their savings, and at the end of the policy's term they would get a large 'terminal' bonus.
Insurance companies said they would set aside some profits from the good years to smooth out returns when investments underperformed.
Instead, investors have experienced a headlong dive as payouts have plummeted since the turn of the century. When these policies were sold, endowments were giving returns of 13% a year; now some give less than 4%.
At Standard Life, a benchmark 25-year, £50-a-month with-profits endowment has slumped from more than £110,000 at its peak to less than £29,000 today.
A 25-year Norwich Union endowment — owned by Aviva — pays £25,253 compared with £28,325 last year and £100,247 as recently as 1998. This represents a return of just 3.9% a year.
A General Accident policy — also now owned by Aviva — will pay out £33,937, 8% less than a similar policy last year. At its peak, GA paid out £120,809, figures from Money Management magazine show.
At Friends Provident, payouts rose by 4.6% last year, against a 13% rise in the fund. But the £31,374 value compares with a peak in 1992 of £106,948.
Savers have more than £330bn tied up in these funds, which can lock your money up for up to 35 years and levy hefty penalties if you want to get out early.
Investment specialist Patrick Connolly, of adviser AWD Chase de Vere, says: 'It seems that, almost regardless of investment performance, with-profits funds are still paying for mistakes they have made in the past. We can expect further reductions in bonus rates and payouts in the coming years.'
He adds: 'Aviva's with-profits investors are in a much stronger position than with-profits policyholders with many other companies because it has a relatively large proportion of its fund investing in shares.'
Insurance companies have committees that are supposed to protect policyholders' interests over issues such as deciding how much to award in bonuses.
But a report from City watchdog the Financial Services Authority last year raised fears that some committees were failing, saddling investors with paltry bonus rates and inflated charges.
With-profits funds face another obstacle: financial regulations force them to adopt a more cautious approach if they pay large annual bonuses, which are guaranteed, to policyholders.
Last week, Standard Life said it was freezing or cutting annual bonuses to allow it to invest more of the fund in shares.
At Aviva, annual bonuses were kept at the same level as last year even though its £49bn fund grew by 12%. Prudential, Legal & General and Scottish Widows will announce their payouts soon.
However, the worst could yet be to come. The Phoenix Group controls a range of funds which are closed to new savers, many of which have little money invested in shares. These include Pearl, Phoenix, Scottish Mutual, Scottish Provident, Royal Life and Royal Sun Alliance.

Endowments graphic
If you have an endowment shortfall, you have limited options. These are:
• EXTEND your mortgage term to repay the shortfall;
• CONVERT part of your loan to a repayment mortgage and pay extra to your lender while interest rate are low;
• SET up another savings plan such as an Isa — not with your insurer — to cover the shortfall.
• DO NOT take another endowment or increase payments to your existing one because the insurer will take yet more charges.
'I was let down so badly'
John Parker, 68, was expecting to receive at least £45,000 from the endowment he was sold in October 1990. It was set up to run for 23 years and is costing him £77 a month.
John Parker
John Parker
Now, Aviva has told him that at this stage the policy is on track to pay out just £26,700 — even though he will have paid in £21,252. Endowments were regularly sold to run beyond housebuyers' retirement age.
Another problem that can make them poor value is part of each monthly payment goes towards life insurance, which is more expensive for older people.
Mr Parker says: 'I have already paid off the mortgage with money from elsewhere. But I fail to understand why this policy has done so much worse than expected.'
An Aviva spokesman says: 'Mr Parker's payment will be boosted to £35,000 once we include our mortgage promise.


Read more: http://www.thisismoney.co.uk/mortgages-and-homes/endowments/article.html?in_article_id=522934&in_page_id=55#ixzz1GrN4xuz1

U.S. Plans Japan Airlift as Authorities Battle Reactor Leaks


(See EXT2 for special report on nuclear crisis.)
March 17 (Bloomberg) -- The U.S. plans to airlift citizens from Japan along with military and diplomatic families, reflecting widening skepticism that the authorities can contain leaks from the quake-stricken Fukushima nuclear plant.
The U.S., U.K. and Australia raised their alert levels, telling nationals to keep at least 50 miles (80 kilometers) away from the Dai-Ichi facility. Blackstone Group LP and BNP Paribas SA were among companies that shifted operations from Tokyo, which lies about 135 miles to the south.
Efforts to cover exposed fuel rods that are spewing radiation by dousing them with water from helicopters failed, forcing the government to deploy police water cannons typically used to quell riots. Buildings in Fukushima were rattled through the night by aftershocks as snow and shortages of fuel, water and food assailed a city of 290,000 living in the shadow of an unfolding nuclear crisis.
"It’s been seven days since the earthquake, but new challenges are crashing down on us one after another," Prime Minister Naoto Kan said during a meeting today in Tokyo. "We will overcome these difficulties through extreme effort and meet the expectations of our people, who are remaining calm."
The magnitude-9 earthquake that hit March 11 sparked a 7- meter tsunami that engulfed the northeast coast. The temblor and wave knocked out cooling systems at the Dai-Ichi plant. There were 5,429 confirmed dead, with 9,594 missing as of 4 p.m. Tokyo time today, the National Police Agency said. Buildings were razed to the ground as the wave carried a wall of cars, uprooted trees and other debris through coastal towns.
‘Struggling Desperately’
“We are struggling desperately to recover,” Yoshihiro Murata, the governor of the worst-affected region of Miyagi, wrote in an e-mail today. “I am afraid it’s going to take a few years to revive. The disaster was far bigger than we prepared for.”
In Fukushima city, the capital of the prefecture that’s home to the Tokyo Electric Power Co. plant, long queues formed at gas stations, most restaurants and supermarkets were shut and there was no running water. Chief Cabinet Secretary Yukio Edano called for calm and asked people to cut back power use after Tepco warned of possible blackouts in the capital.
U.S. Nuclear Regulatory Commission Chairman Gregory Jaczko yesterday told a House Energy and Commerce subcommittee that all cooling water has drained from the spent-fuel pool and “radiation levels are extremely high, which could possibly impact the ability to take corrective measures.”
Foreigners Leave
“There are still aftershocks, we have the rolling blackouts in our area and concern about the radiation,” Keith Cash, a pre-school teacher at the U.S. Atsugi air base, said as he prepared to put his wife and four children on a plane back to the U.S. “All of those things put together have really forced us to decide that we want to have them go back.”
Group of Seven nations finance chiefs will hold talks on financial markets and Japan’s economy tomorrow, after the country’s strongest earthquake on record triggered a drop in global stocks and drove the yen to a post-World War II high.
The Topix fell 0.8 percent at the market close, and is down 13 percent since the quake.
Japan’s Nuclear and Industrial Safety Agency said there is a possibility that all the water at the fuel-cooling pond of the No. 4 reactor had gone. The rods need to be kept submerged to prevent overheating. The plant has six reactors, three of which have been damaged by explosions following the quake.
Power Line
Tepco’s Masahisa Otsuku yesterday said the company didn’t know about the water levels in the fuel pond. “We don’t have the latest water levels, temperatures, none of the latest information,” he said. Today, the company said it was planning to connect a new power line to the cooling systems, though it couldn’t say when the project would be completed.
Japan’s Edano called for calm, saying Kan and President Barack Obama had pledged close cooperation and that Japanese and U.S. nuclear experts were working together on the crippled power plant.
If you’re an American citizen within that 50-mile radius “you should, you must, for your own safety, get out,” Under Secretary of State Patrick Kennedy said at a briefing.
U.S. nationals “in Japan should consider departing,” the State Department said today in an e-mailed statement.
The U.S. said it was allowing dependents of military personnel in Japan to leave and was chartering a “couple” of aircraft. “Additional airlift resources” will be made available if needed, he said.
The U.K. government is also hiring planes to take its nationals to Hong Kong, the Foreign Office said on its website.
Hoarding in China
Canada, Australia and New Zealand all advised citizens to follow the 50-mile exclusion guide. France, Germany and China were among countries that urged nationals to leave Japan.
There were 66,876 U.S. and Canadian citizens registered with Japan’s Justice Ministry in 2009, the latest data available, 16,597 Britons and 14,179 from Australia and New Zealand. China had 680,518 residents and the Philippines 211,716.
Fear that radiation would spread through the region sparked panic-buying in China. Shoppers cleared shelves of salt, viewed as a defense against radiation exposure.
Yunnan Salt & Chemical Industry Co. shares surged by the 10 percent daily limit as consumers stocked up on the mineral.
China’s National Salt Industry Corp. asked its branches to help crack down on hoarding. People have been buying more than 10 bags of salt and exhausting supplies, said an assistant at a Lianhua Supermarket in Shanghai’s Hongkou district who declined to give her name.
--With assistance from 萩原ゆき in 東京, Takashi Hirokawa and Anna Kitanaka in Tokyo, Naoko Fujimura and Makiko Kitamura in Osaka, Michael Forsythe in Beijing, Bloomberg News in Shanghai, Bomi Lim in Seoul and Ben Richardson in Hong Kong. Editors: Bill Austin, Ben Richardson
To contact the reporters on this story: Aaron Sheldrick in Tokyo at asheldrick@bloomberg.net; Terje Langeland in Osaka at tlangeland1@bloomberg.net; Stuart Biggs in Tokyo at sbiggs3@bloomberg.net

Wednesday, March 2, 2011

BEST PTC SITES(THEY REALLY PAY)