Captain Richard Phillips reunited with wife, family; arrives home after pirate hijacking

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Captain Richard Phillips (center) steps off a plane and is hugged by his daughter Mariah (left) and his wife Andrea (right) as his mother Virginia (far left) smiles. His son, Daniel, is behnd them.

Freed pirate hostage Capt. Richard Phillips, a smile on his face and his daughter's arms around his waist, enjoyed an emotional Vermont homecoming Friday with family and friends.

The self-deprecating Phillips, insisting he was no hero, waved to the delighted crowd and planted a kiss on wife Andrea after the 18-1/2-hour flight from Kenya to Burlington Airport.

"I can't believe this," said Phillips, sporting a gray goatee, blue jumpsuit and USS Bainbridge baseball cap.

"I'm not a hero. It just floors me."

The captain's mother and his two kids hugged him during a private moment aboard the corporate jet, a joyous ending that seemed uncertain during five days of high-seas drama as a hostage to four Somali pirates.

In his first public comments since the hijacking, Phillips thanked the Navy SEALs who killed his captors.

"They're the superheroes, they're the titans," said Phillips, who also hailed his bosses and fellow Vermonters.

He saved particular praise for his crew of 19, which regained control of the Maersk Alabama from the heavily armed pirates on April 8.

"We did it," he said in a message to his men. "I told you it wasn't going to be if, it's going to be when, and we did what we train to do ... I'm so proud of them."

The jet carrying the skipper touched down shortly before 4:30 p.m., with a small crowd at the airport cheering loudly as Phillips walked across the tarmac.

Daughter Mariah put a bear hug around her dad's waist, clinging to his side before they headed home.

Waiting at their modest white farmhouse was Phillips' favorite dinner: chicken pot pie, prepared by a neighbor.

His mother-in-law whipped up brownies, and a friend supplied Phillips with a few bottles of his favorite beer.

"Having Richard back safe is all my family and I have ever wanted," said his clearly relieved wife. "My prayers have been answered."

The 3,000 residents of his hometown of Underhill, Vt., planned to give the Phillips family their privacy - although they were clearly thrilled to have their hero neighbor back home.WHEN IS THIS GOING TO END???

Current Power Crisis in West Africa Presents a Lucrative Market for IPPs

"The ongoing power sector reform programmes in West Africa have opened up the power industry to private participation," notes Frost & Sullivan Research Analyst Moses Duma. "The reforms have created an environment conducive for power producers to compete in power generation and or distribution."

Sizeable generation capacity deficit and the rising demand for power have opened up a profitable market for IPPs in West Africa. The region is experiencing acute power shortages owing to inadequate power generation capacities.

Booming economic growth, driven by a growing oil industry, has resulted in power demand outstripping supply. State utilities lack the resources, both financial and human, to develop the required generation capacities to meet this demand. As a result, governments have turned to private power operators for additional capacities.

"The power sector in most West African countries is characterised by rolling black outs and high technical losses," says Duma. "Electricity access rates range between 10 per cent to 40 per cent of the population. However, governments lack the financial resources required to develop meaningful power projects."

As a result, power sector reforms have been instituted to reduce the monopolies of state utilities. By 2007, over 30 IPPs had been licensed to produce power in West Africa. The region requires an additional capacity of at least 10,000MW to meet the power demand by 2020.

Despite this potential for growth, the West African IPPs market is significantly hampered by the prevailing low tariffs and the high political risk attached to this market.

"The interference of a majority of governments in the tariff setting process has resulted in sub economical electricity tariffs, which significantly discourage private investors," explains Duma. "IPPs in West Africa demand a high return on investment to cushion themselves from the high level of political risk attached to this market. West Africa's political history has been characterised by a high incidence of politically motivated violence and civil wars."

Private project developers need to target specific countries, which have a secure source of fuel (or feedstock) and cost-reflective tariffs. Moreover, mutually agreed, long-term power purchase agreements in West Africa seem to bring an acceptable return on investment, ranging between 15 per cent to 20 per cent.

"Perceptive power sector investors need to ensure that they acquire a strong insurance against political risk," concludes Duma. "This could be through government guarantees, and/or multilateral political risk guarantees."

Investment Opportunities for Independent Power Producers in West Africa is part of the Energy & Power Growth Partnership Service programme, which also includes research in the following markets: Investment Opportunities for IPPs in East Africa, Southern Africa Markets for Independent Power Producers, Strategic Analysis of the Nigerian Electricity Industry, Strategic Analysis of the Kenyan Electricity Industry, South African Transformer Market, Country Industry Forecast, The German Energy Industry and Africa Steam and Gas Turbine Markets. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants. Interviews with the press are available.

Arrest of U.S. Reporters Adds to the Tension

The vagueness surrounding North Korea's recent arrests of two U.S. journalists on its border with China is a hallmark of Pyongyang's relationship with the world and a powerful tool for dictator Kim Jong Il's authoritarian regime.

The regime has said little about its detention of Laura Ling and Euna Lee of Current TV LLC of San Francisco since North Korean border soldiers arrested the two on March 17 near the Chinese city of Tumen.

Pyongyang has issued only two brief statements about the women, the latest saying they would stand trial for illegal entry and hostile acts toward the country. Pyongyang hasn't officially notified Washington of the charges, a State Department spokesman said Friday.

Two men working with the women got away from the North Korean border guards. One of them, an American cameraman named Mitch Koss, left China shortly after the incident and hasn't spoken publicly since. The other is a Chinese guide whose whereabouts aren't known.

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Associated Press

South Korean protesters hold pictures of two American journalists detained by the North during a rally on Thursday in Seoul.

Current TV is a San Francisco-based media company launched in 2005 by former Vice President Al Gore and businessman Joel Hyatt that broadcasts user-generated and professional content over cable TV and online. About a third of its on-air broadcast is user-generated video.

Ms. Ling, the sister of television personality Lisa Ling, and Ms. Lee work for Vanguard, a team of correspondents that produce a weekly show on international affairs targeting young adults. In January, Ms. Ling, a vice president of Vanguard, said in a news release that "while other outlets are scaling back on their international investigations, the 'Vanguard' team is pushing the envelope. ... We're taking risks and using all of our resources to pursue the important stories that need to be told."

Current TV executives declined to comment about the situation, as did Mr. Gore. The women are the first American civilians arrested in North Korea since 1996.

The detentions create a delicate situation for U.S. diplomats as North Korea prepares to launch its missile. The two reporters were working on a story about North Koreans who flee the closed country to make a better living in China, a situation that has persisted for decades and is embarrassing to both Pyongyang and Beijing.

In the case of the journalists, the overarching desire to get them out may force the U.S., the company and their families to accept seeing the women paraded in show trials and forced to sign statements of guilt. "North Korea's intractability eventually leads people to cave in to their unreasonableness," said Victor Cha, a National Security Council member in the Bush administration and deputy negotiator in the six-party talks with North Korea.

North Korea's two statements are creating confusion about how serious a situation the women face. The use of the language "hostile acts" in the second statement has left analysts wondering if that means espionage. North Korean civil law books, reviewed in Seoul, are vague. Espionage convictions come with severe penalties, such as five to 10 years, or longer, in a gulag-like prison.

"There are no precedents that are open to the public" for determining the North's course in the matter, says Lee Kyu-chang, research fellow at the Korea Institute of National Unification, a government-affiliated think tank.

Beach funding washes away in current economy

Walton County received news in March that appropriations from the Omnibus 2009 Bill, in the amount of $565,000, were awarded to the county for its beach nourishment project.

However, those funds are earmarked for the U. S Army Corps of Engineers, according to Sonny Mares, director of the Walton County Tourist Development Council.

For the past seven years the U. S. Army Corps of Engineers has been responsible for conducting the feasibility study funded by Congress of the "critically" eroded beaches in South Walton.

"Completion of the study is necessary for a permit to be issued," said Mares.

Even with a permit in place funding may not be available for several years, according to Mares.

The total cost for the study, which began in 2004, stands at $1.9 million from federal funding and matching funds from Walton County and the state for a total of $3.9 million.

In 2007 a bond (loan) in the amount of $10 million was issued for the nourishment project of seven miles of beaches in western Walton County. It is to be repaid in equal installments over 10 years, based on future revenue from bed taxes.

"Because of that, if we had a permit today, we would not be able to pledge any room tax revenues," said Mares. "We have to find other funding sources to continue with beach re-nourishment."

Mares estimates the total cost of the project, which will include 20 miles of beach in South Walton, will run between $40 million and $60 million.

Walton County has 26 miles of beach and the proposed project would bring sand to the toe of existing dunes to provide additional protection from storm surge and natural erosion.

Beaches from Dune Allen Beach to Inlet Beach on County Road 30A, with the exception of state park beaches and the seven miles already completed in western Walton County, are slated for the nourishment project.

The downturn in the economy has had a major impact on funding. According to Mares, all shore protection funding has been halted at the federal level.

Mares spent two days in Washington, D. C., last week talking with congressional committees to find avenues for future funding and keeping the nourishment regarded as a federal project.

Mares said no explanation was given for freezes in funding for the Shore Protection Act.

At the state and county levels the slow down in real estate plays a critical role in the amount of money committed from doc stamps, taxes collected by the state on every sale of real estate for beach protection. Mares said he isn't sure how much the state will be able to commit to future funding.

"The reason we're working so hard in deeming this a federal project is the federal government will fund 50 percent of the cost and partner with us on the project for 50 years, taking much of the burden off the county," he said.

With everything yet to be determined, both with the feasibility study and finding money, nourishment of the beaches in South Walton may not begin until 2012, or after, according to Mares.

Those who wish to track the project's progress may do so at www.protectwaltoncountybeaches.com.

Fishermen rescued from sinking boat

At 12:55 pm today Belfast Coastguard received a 999 called from the JENEMI, a 10 metre fishing boat that had lost all power and was sinking about approximately eight miles east of the entrance to Strangford Lough.

The Portaferry Coastguard Rescue Team and Portaferry RNLI Inshore Lifeboats were called to assist the two crew members. Unfortunately the JENEMI sank quickly and the crew had to take to their life-raft, from where they were rescued and brought ashore by the RNLI lifeboat.

Alan Pritchard, Watch Manager at Belfast Coastguard said: "It's fortunate that the crew of the JENEMI had a life-raft that they could use when they needed to abandon ship.

"I'd recommend all small fishing boats to carry life-rafts and or emergency beacons so that in the event of an emergency at sea the crew can safely abandon ship and will be located quickly".

The progress of London Statement-G20

Washington, D.C., April 2, 2009—Today’s communiqué from the leaders of the G20 – a motley collection of democracies and dictatorships – has some good points, but in general it represents a new version of what economist Friedrich Hayek called “the fatal conceit.” It believes that government has all the answers, and demonstrates that the world's leading governments recognize few boundaries. As such, not only does the communiqué promise far more than it can deliver – something the voters in G20 democracies should remember – but it may also impede global economic recovery.

The communiqué holds that, “We start from the belief that prosperity is indivisible; that growth, to be sustained, has to be shared” and to “do whatever is necessary.” In clause after clause, this pro-government rather than pro-prosperity declaration embraces new burdens on a limping financial sector in the form of expanded global regulation, and effectively requires that all look toward government before acting in the future. At no point does the communiqué recognize that government action can and does distort market action to the point of significant harm.

The only “growth” being sustained in today’s political environment – and further embraced here – is the open-ended stimulus culture that has already led to an orgy of “sharing” of citizens’ wealth; in a world increasingly at ease with the word “trillion,” we are not suffering from a lack of sharing. The “unprecedented fiscal expansion” is not, as British Prime Minister Gordon Brown said, an injection of new money (except for some sales of gold reserves) but mostly a redistribution of existing taxpayer money to politically-favored recipients.

An effective communiqué would have acknowledged that wealth is not automatic, that it must be created before it can grow and expand – or be shared. Individuals acting together in voluntary enterprise form the foundation of wealth creation and job growth, but that is nowhere articulated here. Leadership would require the G20 representatives to explain precisely how they plan to unravel tax and regulatory barriers to the creation of new wealth, infrastructure, jobs and new financial innovations. Instead, the document stands as yet another open-ended promise for redistribution of a shrinking pie, and aggressive new political dominance of economic life.

This is not to say that the communiqué is wholly bad. Even as they seek to increase the reach of government by a massive expansion of the International Monetary Fund (by its own figures, the IMF budget is now greater than the GDP of all but 16 countries), the G20 leaders had no choice but to recognize the harmful effects of protectionism. The sections lauding free trade are welcome, and stand as a rebuke to Congressional leaders who have introduced protectionist language in recent bills. If there is one glimmer of hope in the G20 communiqué, it is that the vitality of trade may counteract the dead hand of government control.

Jessica Simpson’s Dad Doesn’t Like Romo

Creepy Papa Joe Simpson introduced his daughter, Jessica, to Dallas Cowboys quarterback Tony Romo 16 months ago in the hopes that the relationship would help her brand new country music career, but now he’s wishing that he hadn’t done that.

A friend of the Simpson gang has told the National Enquirer “Joe now feels that Tony has become too much of a distraction for Jessica. Any free time she has, Jess wants to spend with Tony.” Damn it, Joe, she’s your daughter, not your wife.

The family friend also said, “But if Jessica had her druthers, she’d be married and pregnant. Her main concern is getting Tony to settle down and commit.” I thought cowboys were gay, though. What’s the name of that movie? Quarterback Mountain?