The challenges for media, 30 years after my hostage ordeal


Thirty years ago this Wednesday, I was sitting, chain smoking, in the basement of a children’s needlework school in Kensington, London. It was a few doors away from the Iranian Embassy, which for six days had been under siege as six Iranian dissidents held two dozen hostages captive. Five days earlier, on April 30th, I had been released from the embassy after suffering what the hostage-takers, and myself, thought was a heart attack, though it was probably self-induced through terror and self survival. The needlework school had another function that day – it was the HQ for the police and  military preparing to break the siege. I had been summoned there to assist in the hostage negotiations, though as I arrived the Iranians dumped one dead hostage onto the street. They had shot him in the head and threatened to shoot another within the hour. Within minutes members of Britain’s Special Air Services (SAS) were given orders to storm the embassy and break the siege. They did so in 43 minutes, rescuing all but one of the hostages and shooting dead five of the six dissidents. The sixth later stood trial at the Old Bailey and was jailed for life. It was history in the making. The SAS’s finest hour. All covered live on television (though, remarkably, the interruption of regular programming – a John Wayne western on one channel, the final of a snooker contest on the other – was considered a bold move on the part of the programmers, subject to much criticism from viewers in the days after.) Three weeks later, on June 1st, 1980, CNN was launched and a revolution in continuous news began. As a former hostage, and a newsman for more than 40 years, I am conflicted. How would the modern-day media cover a siege such as the 1980 one?  How would the relentless, frequently breathless and opinionated media of 2010 report on the delicate, terrifying negotiations that went on 30 years ago this week? There was at least one television set inside the Iranian embassy, though for some reason it was not working. There was a radio – and the hostages and their captors sat around it like attentive children, sobbing, laughing and occasionally arguing as broadcasts were made. The slightest error or nuanced report was a cause for distress. These were pre-Internet days. No texts by phone – telephone pagers were considered state of the art. No Facebook, no Flickr, and absolutely no Twitter. As a journalist that seems terrible. As a former hostage I am not so sure. What might have been the outcome if insensitive, speculative or just plain bad reportage had been provided and available to the hostage takers? Supposing clandestine filming of the preparations to break the siege had been transmitted on the BBC, CNN or Fox? Experience tells me there is no such thing as a complete news blackout. The very best intentions by responsible media organizations can be confounded either by screw-ups or by commentators sitting outside what used to be a cozy circle. And social media contributors have their own take on information flow – mostly innocent chatter, sometimes rabid or with a fixed agenda. It’s a good time for media outlets to plan for the next siege. And to determine, in advance, what their response might be. It’s also a good time to reflect on our reporting of the victims of terrorist acts. My ordeal was a brief one, though sufficient to write my Last Will and Testament and leave me with long-lasting after-effects. It ended my ambition to be a dashing war correspondent and started me thinking about the effects of trauma on members of the media. Thirty years on, responsible media organizations –Reuters, AP, the BBC, CNN and others – take for granted the duty of care they have for their own staff. Other media organizations might care to examine their own consciences.

@7 months ago with 29 notes
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UPDATE 1-Canada approves LNG exports for Apache-led project


The gas will come from conventional reserves and shale gas projects in Western Canada, and will be taken by pipeline to a liquefaction plant at Kitimat, British Columbia.The plant and pipeline still require provincial approval.Apache has a 40 percent stake in the Kitimat LNG project on the Pacific Coast, while EOG Resources Inc and Encana Corp each own 20 percent.Plans call for the LNG to be shipped by tanker to markets in the Asia-Pacific region.

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UPDATE 1-Wells Fargo gives staff tough healthcare choices


* Banks face cost pressure; healthcare is prime for cutsBy Rick RothackerOct 12 (Reuters) - Wells Fargo & Co , one of the largest U.S. employers, plans to cut costs by moving its workers into insurance plans that encourage them to spend less on healthcare.The bank told Reuters that it is rolling out a new insurance approach next year that will give employees accounts to help cover medical expenses. They can either put their own pretax dollars in the accounts, or pay higher insurance premiums and have the company fund the account.If employees opt to put their own money into the accounts, they are on the hook for more of their medical expenses if they get sick. If they stay healthy, they benefit from lower premiums.These types of accounts are believed to be useful in encouraging consumers to think more about how they are spending healthcare dollars.For most employers, these accounts are one option among many for health insurance, said Alexander Domaszewicz, a principal with human resources consulting firm Mercer.Only a handful of other companies, including General Electric Co and JPMorgan Chase & Co , are going the same route as Wells Fargo and offering only account-based healthcare plans.”It still isn’t common for very large firms,” Domaszewicz said in an interview this week.But other companies may follow suit. Account-based health plans can cut employees’ and companies’ premium costs by 15 percent, according to Mercer.Other employers often follow big companies like Wells Fargo when it comes to benefits, Domaszewicz said.In materials sent to employees recently, Wells said it was making the change “because rising health care costs and the impact of federal health care reform require us to take a new approach to managing costs together.”Studies are mixed over whether the new U.S. healthcare law will drive up employers’ healthcare costs, but overall U.S. health insurance premiums have surged over the last decade.A study last month by the Kaiser Family Foundation found that the average annual premium for family coverage through an employer increased 9 percent to $15,073 in 2011 from the year before. Since 2000, premiums have risen 134 percent.Employers pay nearly three-quarters of that premium, a rate that has held fairly steady for the last 10 years, according to the foundation’s data.”This is one of the fastest-growing expenses employers have,” said Randall Abbott, a senior consultant at healthcare consulting firm Towers Watson.Cost-cutting is particularly crucial in the financial sector, where the mortgage crisis, low long-term interest rates, and weak loan demand are depressing revenue. San Francisco-based Wells Fargo is looking to shave $1.5 billion from its quarterly operating expenses by the end of 2012 under a program known as “Project Compass.”Wells earned $7.3 billion for common stockholders in the first half of the year, up from $5.3 billion in the first half of last year.A Mercer survey found that health benefits costs on average will rise 5.4 percent in 2012, the smallest increase since 1997, because employers have been so aggressive about cutting these expenses.”We view this as effective use of healthcare services, not as cost-cutting measures,” bank spokesman Ancel Martinez said on Wednesday.LESS BARGAINING POWERU.S. employers began widely offering healthcare coverage after World War Two to get around government salary controls.With 275,000 full- and part-time employees, Wells Fargo is the 12th-largest employer among public companies, according to Fortune Magazine.About one-third of the bank’s employees already use some sort of account-based plan. Wells will still offer traditional plans in California and other states where switching would force too many employees to change their doctors.Under the bank’s program, employees can have a “health reimbursement account,” which Wells funds, or a “health savings account,” which workers fill with their own pretax dollars.Both accounts will help cover out-of-pocket expenses until a deductible is met.After that, Wells will cover between 80 and 90 percent of medical expenses, with the employee picking up the rest. After an employee reaches an out-of-pocket maximum, Wells covers 100 percent of additional expenses. An insurance company administers the claims.Eligible preventive care, such as routine checkups, annual screenings and immunizations, is covered 100 percent. Employees can earn money to put into their accounts through participating in health and wellness programs.A Wells employee in North Carolina covered on an individual basis would pay a premium of about $23 per two-week pay period for the health savings account option, compared with $48 for the health reimbursement account plan.An employee in an individual plan can put up to $3,100 into a health savings account under IRS rules next year. The deductible in that plan is $3,000.In the health reimbursement option, the company can put between $200 and $1,000 in an employee’s account. The deductible is $2,000 for individual coverage. Employees must pay $25 for a primary office visit, which is less than the full cost. There are also co-pays for generic prescription drugs.Employees who use health savings accounts can roll their money into the next year if they do not use it all and take it with them if they leave the company.

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Ex-US insurance executive, Reds owner Lindner dies


At one time he owned controlling interests in Great American Insurance Group, General Cable Corp, Hanna-Barbera Productions, Kings Island Company, the former Taft Broadcasting Company, The Cincinnati Enquirer, and The Provident Bank.Lindner bought and sold a wide range of businesses from banana company Chiquita Brands International Inc. to the Penn Central railroad.He bought the Cincinnati Reds, one of the venerable teams in Major League Baseball, in 1995 and bristled at criticism of his losing team, selling his majority stake five years later.He launched his financial empire with a savings-and-loan and insurance company. Eventually, he shed many outside businesses except for American Financial Group, an insurance holding company with assets in excess of $30 billion.The conservative Lindner was among those behind a Cincinnati anti-pornography group, Citizens for Decency through Law, that sparked controversy in 1990 when it tried to block a Robert Mapplethorpe photography exhibition.Early on in Norwood, Ohio, he drove his family’s milk truck on dates, and much later he was sometimes spotted driving one of his Rolls Royce convertibles.He is survived by his wife Edyth and three sons.

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Red Cross discussing role in Shalit exchange with Hamas, Israel


Israel and Hamas Islamist rulers have reached a deal to swap more than 1,000 Palestinian prisoners for Shalit, a 25-year-old held captive in Gaza since 2006.

@7 months ago
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MIDEAST STOCKS-Dubai’s ENBD slumps; Gulf bourses mixed


ENBD fell 1.6 percent to its lowest close since April 20.”We need further information but it will definitely put some pressure on financial for Emirates NBD,” said Samer al-Jaouni, General Manager of Middle East Financial Brokerage.”Dubai Bank accumulated a lot of non-performing loans. I couldn’t see advantages out of this acquisition, which is most likely a bailout,” he added.Dubai’s index slipped 0.1 percent to one point away from last week’s seven month low.In Kuwait, logistics firm Agility fell from Sunday’s four-month high after denying reports that it had won a military contract worth up to $700 million.Its shares, down 3.9 percent, resumed trading on Tuesday after a one-day suspension. The bourse halted trading in Agility after it rallying four straight sessions on rumours of a military contract.The main index rose 0.2 percent to close at its highest level since Sept. 26.Mabanee Co gained 1.2 percent and National Industries Group rose 4.3 percent.Elsewhere, Egypt’s benchmark index recouped some of Monday’s losses, pushed higher by Citadel Capital .Citadel jumped 6.3 percent as a foreign buyer bought more than 5 million shares in the private equity firm, traders said.Analysts say the stock weakened after a 1 billion Egyptian pound ($167.6 million) rights issue was only partially subscribed.Citadel launched a second-round rights issue on Monday. A roadshow by investment bank EFG-Hermes could have drummed up foreign interest in Citadel stock, traders said.”This roadshow may have resulted in some interest in the name. Citadel’s been trading much lower than its enterprise value,” said a trader at CIBC brokerage.Among other gainers, Commercial International Bank climbed 1.5 percent and Orascom Construction jumped 6.4 percent.Abu Dhabi’s property stocks weighed on the benchmark with Aldar Properties down 1.8 percent and Sorouh Real Estate slipping 2 percent. The benchmark shed 0.2 percent.In Qatar, the index rose 0.8 percent at a 10-day high with financial stocks the main support.Masraf Al Rayan gained 1.2 percent, Doha Bank climbed 2.2 percent and Commercial Bank of Qatar advanced 1.3 percent.”Volumes are lower but still there is a belief of strong results coming from banks. Institutionals are accumulating banks because of historic attractive cash dividends at year-end,” said Jaouni.In the kingdom, Zain Saudi fell 1.7 percent after media reports its Chief Executive Officer Saad al-Barrak is expected to resign from the board shortly.The benchmark slipped 0.3 percent, ending a four-day winning streak.Petrochemical stock fell with Yanbu National Petrochemicals Company (YANSAB) down 1.3 percent after net profit more than doubled in the third quarter but still missed analyst expectations.Saudi Arabian Mining Co (Maaden) shed 1.8 percent as investors booked profits after the company swung to a third-quarter net profit of 27.4 million riyals ($7.3 million), but the results missed analyst forecasts.TUESDAY’S HIGHLIGHTSDUBAI* The index slipped 0.1 percent to 1,388 points.KUWAIT* The measure advanced 0.2 percent to 5,859 points.EGYPT* The index rose 2 percent to 4,018 points.ABU DHABI* The benchmark slipped 0.2 percent to 2,494 points.QATAR* The index advanced 0.8 percent to 8,353 points.SAUDI ARABIA* The index declined 0.3 percent to 6,118 points.OMAN* The index fell 0.1 percent to 5,561 points.BAHRAIN* The measure climbed 0.2 percent to 1,156 points.

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