October 19, 2009

The U.S. Agency for International Development (USAID) and Grameen Foundation today announced a new collaboration that will make up to $162.5 million in local currency financing available to microfinance institutions (MFIs) throughout the developing world. The twelve-year program is the largest credit guarantee to date under USAID's Development Credit Authority and also marks the first time that a non-governmental organization has been approved to serve as facilitator. Grameen Foundation will manage the credit risk of the pool and vet the microfinance institutions who would like to access the funding, while both organizations will issue joint guarantees together. More than 150 million people around the world rely on microfinance, which makes financial services available to the poor for income-generating activities. The current financial crisis, however, has made it increasingly difficult for MFIs to access the funding they need. Equally important, less than 30 percent of all international funding to MFIs is in local currency, which exposes them to foreign exchange risk if the value of their local currency falls, as happened during the financial crisis. This alliance between USAID and Grameen Foundation offers a wider range of financing options to more MFIs in their local currencies from local commercial banks. An estimated 600,000 poor borrowers and their families could benefit from this partnership, ultimately impacting over three million lives. Full release.

The Census Bureau will release alternative income and poverty estimates covering calendar year 2008. The data were collected from the 2009 Current Population Survey (CPS) Annual Social and Economic Supplement (ASEC). The first set of alternative measures include poverty estimates only and are based on recommendations from a 1995 National Academy of Sciences panel on measuring poverty. These estimates use a broadened definition of income and a set of poverty thresholds that are conceptually consistent with this income measure. The second set of alternative measures includes both income and poverty estimates and shows the impact of cash and noncash benefits and taxes on the distribution of income and prevalence of poverty. The poverty estimates in this series are based on the official poverty thresholds. Full release.

A CONSOL Energy Inc. (NYSE: CNX) research executive told a Senate hearing today it was essential that any climate legislation carefully coordinate the development of carbon capture and storage (CCS) technologies with the timing and size of carbon dioxide emission reductions. He spoke at a field hearing of the U.S. Senate Committee on Environment and Public Works held in Pittsburgh. "Coal is our most abundant energy resource and we need sustained, predictable investment in CCS coupled with the time to develop, demonstrate and commercialize it effectively," said Steven Winberg, vice president - Research and Development. "However, there is a key overarching issue. If the legislation forces significant reductions in U.S. greenhouse gas emissions before these new technologies are commercially deployable, we will negatively impact a significant part of the existing fleet of coal-fired power plants." Winberg said that without allowing the time necessary to develop and fully deploy CCS at existing power plants before requiring significant reduction in emissions, the legislation would short-circuit promising technological developments. He said other impacts could include higher consumer electricity costs, power grid reliability problems, negative impacts to U.S. global competitiveness, and a missed opportunity for U.S. developed CCS technologies to be exported to other countries. Full release.

Mylan Pharmaceuticals, UDL Laboratories, AstraZeneca Pharmaceuticals and Ortho McNeil Pharmaceutical have entered into settlement agreements for a total of $124 million to resolve claims that they violated the False Claims Act by failing to pay appropriate rebates to state Medicaid programs for drugs paid for by those programs, the Justice Department announced today. The Medicaid Prescription Drug Rebate Program was enacted by Congress in 1990 out of concern for the costs that Medicaid was paying for outpatient drugs. By agreeing to participate in the Medicaid Rebate Program and signing these rebate agreements, the four companies agreed to pay quarterly rebates to Medicaid that were based upon the amount of money that health care program paid for each company's drugs. The precise amount of a rebate is determined in part by whether a drug is considered an "innovator" drug or a "non-innovator" drug. The rebate that must be paid for innovator drugs is higher than the rebate for non-innovator drugs. Each of the companies agreed to pay a settlement to resolve allegations that it had sold innovator drugs that were manufactured by other companies and had classified those drugs as non-innovator drugs for Medicaid rebate purposes. As a result of the improper classification of these drugs, the companies underpaid their rebate obligations under the Medicaid Rebate Program. Full release.

The following statement was released today by Charles E. "Ed" Haldeman, Jr., Chief Executive Officer, Freddie Mac (NYSE: FRE): "We are pleased that President Obama and Secretary Geithner are calling on Freddie Mac to play a central role in this new phase of the Homeowner Affordability and Stability Plan. This will give critical credit and liquidity support to our nation's state and local housing finance agencies when they need it most." "Today's announcement marks a new and important way to reinvigorate the nation's housing markets and underscores Freddie Mac's vital role in the nation's economic recovery." "We look forward to working with state and local housing finance agencies, the Administration and the Federal Housing Finance Agency over the coming months to implement this crucial initiative to deliver affordable housing credit to local markets across the nation." Full release.

Attorney General Eric Holder today announced formal guidelines for federal prosecutors in states that have enacted laws authorizing the use of marijuana for medical purposes. The guidelines make clear that the focus of federal resources should not be on individuals whose actions are in compliance with existing state laws, while underscoring that the Department will continue to prosecute people whose claims of compliance with state and local law conceal operations inconsistent with the terms, conditions, or purposes of those laws. "It will not be a priority to use federal resources to prosecute patients with serious illnesses or their caregivers who are complying with state laws on medical marijuana, but we will not tolerate drug traffickers who hide behind claims of compliance with state law to mask activities that are clearly illegal," Holder said. "This balanced policy formalizes a sensible approach that the Department has been following since January: effectively focus our resources on serious drug traffickers while taking into account state and local laws." Full release.

A statement from GAA follows: "We congratulate Chairman Delahunt for his leadership and commitment to human rights," said Dr. Paul Zeitz, Executive Director of the Global AIDS Alliance (GAA) and a physician with experience working with people with HIV/AIDS in Africa, India and South America. "Violence against women is a universal issue, and U.S. work to end this scourge will not only galvanize the global health, women's, children's and human rights movements, but will help restore credibility to the United States through effective use of soft power," he said. The Global AIDS Alliance encourages swift introduction and bipartisan passage of the International Violence Against Women Act (I-VAWA). The I-VAWA will have a great impact on global HIV/AIDS prevention and treatment efforts. "Violence against women and girls is a cause and a consequence of HIV/AIDS," said Lisa Schechtman, GAA's Senior Policy Officer for Women. "Violence or fear of violence can prevent women from negotiating safe sex and from seeking health services or information, including HIV testing, care and treatment," said Schechtman. "We also know that men who are violent toward their intimate partners are more likely to have multiple sexual partners, which is one of the primary causes for the spread of HIV," she said. Full release.

America's pharmaceutical research and biotechnology companies are working on nearly 1,000 life-changing medicines for diseases affecting women, according to a new report released by the Pharmaceutical Research and Manufacturers of America (PhRMA). The medicines are awaiting approval by the U.S. Food and Drug Administration or are in human clinical trials. In the U.S., diseases that disproportionately affect women include diabetes, which has reached epidemic proportions and affects 11 million women nationwide. Autoimmune diseases strike women three times more than men, and anxiety and depression strike women two times more than men. The number one killer of American women is heart disease. Breast cancer is the most frequently diagnosed cancer in American women. To help raise awareness about this disease, Medicines in Development Women 2009 is being released during Breast Cancer Awareness Month. Full release.

Employees from entertainment companies, including studios, networks, talent agencies and guilds join forces and participate in a week of volunteer activities scheduled in Los Angeles starting Tuesday, October 20. This show of support celebrates a new industry-wide volunteer initiative, iParticipate, led by the Entertainment Industry Foundation (EIF). iParticipate is a ground-breaking, multi-year campaign designed to motivate millions of Americans to volunteer regularly. As a centerpiece, beginning October 19, ABC, CBS, FOX, NBC and other broadcast networks will spotlight service on more than 90 shows through scripted programming, segments and PSAs during an unprecedented, week-long television event. To coincide with the week of programming, hundreds of employees working at entertainment industry companies are answering the call to serve with organized volunteer projects throughout Los Angeles. Full release.

Vlingo Corporation released new data regarding teen distracted driving habits today from its second annual Vlingo Consumer Mobile Messaging Habits Report as the nation prepares for National Teen Driver Safety Week October 18-24. The Vlingo report finds 60 percent of teens admit to reading incoming text messages while driving. Text messaging has overtaken the phone as the primary communications medium for teens. According to the Vlingo study, 94 percent of teens use their mobile phones to send text messages. Fifty-four percent send more than 500 text messages per month and 79 percent send more text messages than make phone calls. Teens use text messaging primarily to communicate with friends (72 percent). While 62 percent of teens support making driving while texting (DWT) illegal, only 34 percent favor making it illegal if a hands-free solution was available. Notably, teens are in favor of technology that would make DWT safer. Ninety percent of teens would use a technology solution that let them speak text and email messages by voice and have incoming messages read to them while driving instead of typing. Full release.

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