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U.N. Reports $4.8B 'Record' Aid Funding Shortfall
The U.N. on Tuesday said "it is running a record funding-shortfall of $4.8 billion for its aid operations in 16 crisis-ridden countries" and has received "less than half of the $9.5 billion it needs to carry out it humanitarian operations this year," VOA News reports (Schlein, 7/21).
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UAW To Accept Up To 20% Of GM Stock; Agrees To Concessions On Retiree Health Care Obligations, Labor Rules
United Auto Workers leaders on Tuesday agreed to accept up to 20% of General Motors stock, as well as concessions on labor rules and retiree health care obligations, as the automaker faces a June 1 deadline to restructure or seek bankruptcy protection, the Detroit News reports (Aguilar/Shepardson, Detroit News, 5/27). Under the deal, the voluntary employees" beneficiary association would receive 17.5% of common GM stock, $6.5 billion of preferred shares, a $2.5 billion note and warrants equal to 2.5% of GM"s stock (Reuters/USA Today, 5/27). In addition, the VEBA would receive $585 million annually in interest income on its preferred stock (Detroit News, 5/27). Another concession included in the tentative deal is the elimination of dental, vision and some prescription drug coverage for hourly retirees (Shepardson/Aguilar, Detroit News, 5/26). UAW also would hold a seat on the GM board of directors (Cho et al., Washington Post, 5/27).Because of a proposed deal announced earlier this month, the Treasury Department and UAW, together, are to own 89% of GM"s stock, meaning that if the UAW-GM deal is approved, the Treasury would own about a 70% share of GM"s stock (Detroit News, 5/26). Current bondholders would hold about a 10% stake in the company (Washington Post, 5/27). The remaining 1% would be held by existing shareholders (Detroit News, 5/26).The total 20% is about half of what was anticipated (Higgins, Detroit Free Press, 5/26). The "significant concessions" made by UAW, which was eligible to receive up to 39% of GM"s equity through the VEBA, "could mean that [GM] is attempting to appease unsecured bondholders, who charged that the UAW was getting a better deal," according to the News (Detroit News, 5/27). UAW said the revised agreement with GM was necessary for the automaker to survive, but the deal will leave hundreds of thousands of GM retirees paying higher out-of-pocket medical expenses, the Wall Street Journal reports (Stoll et al., Wall Street Journal, 5/27).UAW members are scheduled to vote on the agreement on Wednesday and Thursday (Detroit News, 5/26). However, "[e]ven with UAW approval, GM is still likely to file for bankruptcy, since bondholders are unlikely to swallow deep concessions," according to the News (Detroit News, 5/27).
News of the day
HEALTHPOINT-Sponsored Venous Leg Ulcer Clinical Trial Enrolls First Subject For Second Phase II Study
HEALTHPOINT, Ltd. announced that it has enrolled the first of a planned 235 subjects into a Phase II dose response study investigating an experimental, cell-based wound therapy ---HP802-247---intended for the treatment of venous leg ulcers. HP802-247 is a topical spray containing living keratinocytes and fibroblasts. The first patient was enrolled at The Center for Clinical Research near San Francisco, Calif., led by the site"s principal investigator, Alexander Reyzelman, DPM. The study is being conducted by 28 investigators in 18 states.
Sexual Health

Healing Wounds With Lasers

Researchers from around the world will present the latest breakthroughs in electro-optics, lasers and the application of light waves at the 2009 Conference on Lasers and Electro-Optics/International Quantum Electronics Conference (CLEO/IQEC) May 31 to June 5 at the Baltimore Convention Center in Baltimore. HEALING WITH LIGHT Star Trek scanners that fix injuries with beams of light may not be science fiction after all. A new optical technology that lines up living cells and controls their movements has opened the door to better artificial tissues and wounds that heal faster with less scarring. For years, scientists have used the energy in laser light to drill microscopic holes or as tweezers or traps to direct and maneuver small pieces of matter. Guiding entire cells, though, has proven difficult because the lasers used for manipulation tend to damage the structural units of living organisms. Now Aristide Dogariu and colleagues at the University of Central Florida in Orlando have developed an optical procedure that does not harm cells, but affects their skeletons - an ensemble of slender rods made out of an abundant protein called actin. The actin rods are constantly growing and shrinking inside of cells. The direction in which they grow changes the cell"s membrane shape and dictates where the cell moves. Dogariu and colleagues use the polarization of optical waves to create a field around the cells in which the growing actin rods line up like a compass in the Earth"s magnetic field. These optical fields can be used to guide large groups of cells to line up and move in the same direction. The technique could be useful for cancer assays, which test the motility of cells, or as a non-invasive, non-toxic boost for regenerative medicine. Though cells have complicated and intriguing mechanisms to sense and communicate where an injury occurs, the possibility of using photonic scaffolds to stimulate and guide cells" motility to accelerate tissue repair, is now quite promising. Presentation CMMM2; Monday, June 1, 4 - 4:15 p.m. Colleen Morrison Optical Society of America


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