Vietnam is set to auction up to a $5 billion stake in top brewer Sabeco on Monday, with Thai Beverage the only potential bidder to have expressed interest in a majority stake.

The keenly anticipated sale of the state-owned maker of Bia Saigon gained momentum in recent months after being hampered for years by political resistance, fickle policy-making and complications over valuations.

The government has set a minimum sale price of 320,000 dong or $14.10 a share for Saigon Beer Alcohol Beverage Corp (Sabeco), whose shares have nearly trebled to 309,200 dong since its listing a year ago.

Thai Beverage, through a partly owned Vietnam unit, is the only company that has expressed interest in owning more than 25 percent of the company, which has roughly 40 percent of the beer-loving Vietnamese market.

So far no formal bid had been made.

Vietnam’s young population and booming economy should make Sabeco an attractive asset for global brewers hoping to expand in Southeast Asia, but a high minimum bid price and foreign ownership limits appear to have turned off potential buyers.

Sabeco’s foreign ownership is capped at 49 percent. With 10 percent already in foreign hands, that leaves only 39 percent on the table for overseas buyers at Monday’s auction. Local bidders can bid for a majority stake of up to 54 percent. Heinken holds a 5 percent stake.

“There’s a disconnect between what the government wants to achieve and how international brewers view this auction,” said one person familiar with the matter. “In a normal auction, bidders are fully aware of what stake they’ll end up owning and bid for it accordingly,” said the person, who was not authorized to speak to the media.

Unlike similar sales in developed markets, where investors are whittled down over several rounds and offers can be adjusted, Sabeco bidders need to submit a single offer for a specific number of shares in a sealed envelope in one round.

Thai Bev, controlled by tycoon Charoen Sirivadhanabhakdi, was keen to acquire Sabeco as part of a strategy to expand outside its home market, sources told Reuters. The company had lined up bank guarantees to support the bid by its Vietnam unit, sources said.

There was no immediate response from Thai Bev to a query from Reuters.

Reuters previously reported that the auction was drawing the interest of brewing groups such as Anheuser-Busch InBev, Kirin Holdings, Asahi Group Holdings and San Miguel, but there is no clear sign of whether they have participated in the auction so far.

The government’s minimum price for the 54 percent stake on offer valued Sabeco at about 36 times core earnings, more than double the trading multiples of around 15 for some global peers, according to Reuters data.

Vietnam’s trade ministry is expected to announce the bidding result Monday afternoon.
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From: MeNeedIt

The Pentagon acknowledged Saturday that its long-secret UFO investigation program ended in 2012, when U.S. defense officials shifted attention and funding to other priorities.

But whether the Advanced Aviation Threat Identification Program has continued to investigate UFO sightings since its funding ended five years ago could rank as an unexplained phenomenon.

The New York Times reported Saturday that the hush-hush program, tasked with investigating sightings of unidentified flying objects, ran from 2007 to 2012 with $22 million in annual funding secretly tucked away in U.S. Defense Department budgets worth hundreds of billions of dollars.

Its initial funding came largely at the request of former Senate Democratic leader Harry Reid, the Nevada Democrat long known for his enthusiasm for space phenomena, the newspaper said.

Yet according to its backers, the program remains in existence and officials continue to investigate UFO episodes brought to their attention by service members, the newspaper said.

Other issues pursued

The Pentagon openly acknowledged the fate of the program in response to a Reuters query.

“The Advanced Aviation Threat Identification Program ended in the 2012 time frame,” Pentagon spokeswoman Laura Ochoa said in an email.

“It was determined that there were other, higher priority issues that merited funding and it was in the best interest of the DoD to make a change,” Ochoa said.

But the Pentagon was less clear about whether the UFO program continues to hover somewhere in the vast universe of the U.S. defense establishment.

“The DoD takes seriously all threats and potential threats to our people, our assets, and our mission and takes action whenever credible information is developed,” Ochoa said.

What is less in doubt is Reid’s enthusiasm for UFOs and his likely role in launching the Pentagon initiative to identify advanced aviation threats.

“If you’ve talked to Harry Reid for 60 seconds then it’s the least surprising thing ever that he loves UFOs and got an earmark to study them,” former Reid spokeswoman Kristen Orthman said in a message on Twitter.

Or as Reid himself said in a tweet that linked to the Times’ story: “The truth is out there. Seriously.” 
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From: MeNeedIt

The U.S. Centers for Disease Control is reportedly banning a list of seven words or phrases in official documents, sparking a flood of reaction on social media platforms.

Policy analysts at the CDC, based in Atlanta, Georgia, were told about the list of prohibited words at a meeting Thursday with senior CDC officials, according to an unnamed analyst who attended the meeting as reported by The Washington Post newspaper.

The banned words are “diversity,” “entitlement,” “evidence-based,” “fetus,” “science-based,” “transgender,” and “vulnerable.”

The meeting was led by Alison Kelly, a top official in the CDC’s Office of Financial Services, according to the analyst who the Post said remained anonymous because the person was not authorized to speak publicly about agency affairs. The analyst said Kelly did not explain why the words were being forbidden.

The Planned Parenthood Federation of America, a non-profit group that provides reproductive health care, said on Twitter the action sends strong messages about the administration of President Donald Trump.

“It’s clearer than ever: this administration has disdained women’s health, LGBTQ people, and science since day one.”

David Reiss, an internationally recognized psychiatrist, tweeted that the administration’s decision is counterproductive and outside the boundaries of traditional Washington politics.

“This is an attack on reality. Censoring names, Trump attempts to disappear knowledge, people & rational discourse. This is not politics or partisan but a takeover of society by authoritarian kleptocrats. Resist or Collaborate. No other options.”

Legal Lambda is a legal organization that advocates on behalf of bisexuals, gay men, lesbians, transgender people and people who have contracted HIV. The group responded on Twitter with disbelief.

“Unbelievable. You cannot erase us, @realDonaldTrump…”

Many of the responses on Twitter were triggered by comments from Democratic Congressman Ted Lieu, who blasted the Trump administration for reportedly banning the words.

“The @realDonaldTrump Administration is making America stupid again. Centers for Disease Control and Prevention banned from using “science-based” and “evidence-based” terms. Are we now going to use Voodoo & leeches to treat diseases?…”

Other officials with the nation’s top public health agency confirmed the existence of the list of banned words, the Post reported. The newspaper added the words will be prohibited from inclusion in any official CDC documents being prepared for the 2019 budget.

Unprecedented

The analyst, described by the Post as a “longtime CDC analyst” who helps write descriptions of the agency’s work for the administration’s annual budget proposal, could not remember past incidents of words being banned from budget documents because they were deemed controversial.   

“In my experience, we’ve never had any pushback from an ideological standpoint,” the analyst told the Post.

Others in the meeting reacted with disbelief, the analyst said.

The Trump administration has grappled with how to address issues such as abortion rights, gender identity and sexual orientation. Several federal agencies have altered some federal policies and how they gather information about bisexual, gay, lesbian and transgender citizens.

The Department of Health and Human Services has eliminated questions about gender identity and sexual orientation in two surveys of older people. The agency has also deleted information about LGBT people from its website.

On many occasions, the Trump administration has dismissed science-based findings in favor of opinion – particularly regarding climate change. Trump has not said if he believes in climate science and numerous members of his administration have denied facets of scientific findings related to climate change.

The Environmental Protection Agency has eliminated references to climate change on its website and has prohibited its scientists from presenting scientific reports on the topic.

The Office of Management and Budget, which produces the president’s budget and monitors federal agencies for compliance with the president’s policies, has not responded to requests for comment, nor has the CDC, the Post reported.

 
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From: MeNeedIt

Top entertainment and business executives have agreed to found and fund a Commission on Sexual Harassment and Advancing Equality in the Workplace.

The new group was established at a meeting in Los Angeles convened by Lucasfilm President Kathleen Kennedy, Nike Foundation founder and co-chair Maria Eite, talent attorney Nina Shaw and venture capitalist Freada Kapor Klein. It was attended by the heads of nearly every major Hollywood studio.

The establishment of the new group follows the recent avalanche of allegations about sexual misconduct and inequality in the entertainment industry.

“The Commission will not seek just one solution, but a comprehensive strategy to address the complex and inter-related causes of the problems of parity and power,” Kennedy said in a statement.

Anita Hill has been tapped to chair the newly formed group.  She was one of the first people to introduce the public to the concept of sexual harassment when she testified in 1991 against Clarence Thomas at his Senate confirmation hearing for the Supreme Court.

“It is time to end the culture of silence,” Hill said in a statement. “I’ve been at this work for 26 years.  This moment presents us with an unprecedented opportunity to make real change.”

Hill, a Brandeis law professor who has chaired the Human Rights Committee of the International Bar Association, said the commission will focus on issues ranging from “power disparity, equity and fairness, safety, sexual harassment guidelines, education and training, reporting and enforcement, ongoing research and data collection.”

Accounts in the New York Times and the New Yorker covering the allegations from women about predatory sexual behavior on the part of film producer Harvey Weinstein seemed to have opened the door for others to follow suit with allegations of sexual misconduct leveled against a host of other media and entertainment figures that have included Charlie Rose, Matt Lauer, Louis C.K., Russell Simmons, Kevin Spacey, Garrison Keilor and Brett Ratner. Not spared were political figures, including U.S. Senator Al Franken.

The commission said in a statement it will reconvene early next year to define its mission, scope and priorities.

 
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From: MeNeedIt

The biggest holiday of the season is in full swing, and holiday decor provides an important background for all the festivities. Cities, public buildings and most private homes are made ornate with Christmas trees, lights, bows, menorahs, Santas and other holiday figures. Some are now preparing for New Year’s Eve as well. VOA’s Zlatica Hoke reports on the new decor trends that are competing with the traditional, but lights are essential during the long winter nights.
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From: MeNeedIt

A Los Angeles-based company claims it is turning people’s bad habits into good ones with a range of vape-able vitamin supplements. But medical experts say there are no studies yet that show inhaling nutrients is any better than taking vitamin pills or simply eating right. Faith Lapidus reports.
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From: MeNeedIt

It’s a winter wonderland near Washington this holiday season, as it has been for nine years. It’s an exhibit called ICE!, and to it took more than 2 million pounds of ice to create sculptures that fill a huge indoor park. VOA’s Eunjung Cho reports.
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From: MeNeedIt

It’s one of the country’s first branches of law enforcement. Founded in 1791 by George Washington, the U.S. Park Police oversee all federal parks, but only a few officers get to work like the country’s first president … on horseback. Arash Arabasadi reports from Washington.
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From: MeNeedIt

President Donald Trump’s mining regulators are reconsidering rules meant to protect underground miners from breathing coal and rock dust — the cause of black lung — and diesel exhaust, which can cause cancer. An advocate for coal miners said Friday that this sends a “very bad signal.”

The Mine Safety and Health Administration has asked for public comments on whether standards “could be improved or made more effective or less burdensome by accommodating advances in technology, innovative techniques, or less costly methods.”

Some “requirements that could be streamlined or replaced in frequency” involve coal and rock dust. Others address diesel exhaust, which can have health impacts ranging from headaches and nausea to respiratory disease and cancer.

“Because of the carcinogenic health risk to miners from exposure to diesel exhaust, MSHA is requesting information on approaches that would improve control of diesel particulate matter and diesel exhaust,” the agency said.

Regulatory, deregulatory agenda

The Trump administration has said many federal regulations, including pollution restrictions, have depressed the coal industry and other sectors of the economy.

“President Trump made clear the progress his administration is making in bringing common sense to regulations that hold back job creation and prosperity,” Labor Secretary Alexander Acosta said Thursday in releasing his agency’s regulatory and deregulatory agenda. “The Department of Labor will continue to protect American workers’ interests while limiting the burdens of over-regulation.”

The notices on coal dust and underground diesel exhaust had few details. Both were described as “pre-rule stage.”

MSHA in 2014 had promised to conduct a retrospective study of the new dust rule, spokeswoman Amy Louviere said Friday. The current notice seeks comments on that and also on whether existing standards and regulations could be made more effective or less burdensome, she said.

“I think it’s a very bad signal for coal miners that MSHA is wanting to revisit the issue of coal dust and rock dust as well as diesel exhaust,” said attorney Tony Oppegard, who represents miners in safety cases. “I don’t think the Trump administration has coal miners’ best interests at heart. They’re aligned with coal mine operators as opposed to miners, and the only reasons they would want to reopen these rules or revisit these rules are to weaken them.”

Obama-era rules

The Obama administration, through a lengthy rulemaking process, lowered the allowable limit for miners’ dust exposure three years ago, Oppegard said. The industry and its mine operators opposed that for years, he said.

At the National Mining Association, which represents mine operators, spokesman Luke Popovich said Friday they believe a review of the dust-exposure rule “might shed valuable information on … ways it might be improved to provide further protection for miners while eliminating unnecessary implementation requirements for operators.”

David Zatezalo, a retired West Virginia coal mining executive chosen by Trump to head MSHA, said at his November confirmation hearing that the U.S. industry is safer and healthier than ever before. He said progress is needed, including technology for real-time monitoring of silica dust blamed for a virulent variation of the black lung disease that has afflicted even some younger coal miners.
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From: MeNeedIt

An ingredient in cannabis called cannabidiol or CBD has shown promise in a clinical trial as a potential new treatment for psychosis, scientists said Friday.

In research involving 88 people with psychosis, a mental disorder characterized by anxiety, paranoia and hallucinations, the scientists found patients treated with CBD had lower levels of psychotic symptoms than those who received a placebo.

They were also more likely to be rated as improved by their psychiatrist, the study found, and there were signs of better cognitive performance and functioning.

The main psychoactive ingredient in cannabis is delta-9-tetrahydrocannabinol, or THC. It can induce paranoia and anxiety and other unpleasant psychotic symptoms.

Two ingredients, two effects

But its second major constituent, CBD, has the opposite effects to THC, leading scientists to think it might one day be useful as a treatment in mental health.

Scientists at King’s College London’s Institute of Psychiatry, Psychology & Neuroscience conducted a placebo-controlled trial of CBD in patients with psychosis and published their findings in the American Journal of Psychiatry.

Small trial

In the trial, 88 patients with psychosis received either CBD or placebo for six weeks, alongside their existing antipsychotic medication. Beforehand and afterwards, the scientists assessed symptoms, functioning and cognitive performance, and the patients’ psychiatrists rated their overall condition overall.

“The study indicated that CBD may be effective in psychosis: patients treated with CBD showed a significant reduction in symptoms, and their treating psychiatrists rated them as having improved overall,” said Philip McGuire, who co-led the trial.

He noted that trial patients also reported few adverse side effects, and added: “Although it is still unclear exactly how CBD works, it acts in a different way to antipsychotic medication, and … could represent a new class of treatment.”
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From: MeNeedIt

They say young children are like sponges. They soak up information from all around them unconsciously, and build on that core foundation for the rest of their lives. Baba Ras D, a corrections-officer-turned-singer, is a firm believer in the theory. He created a program for children that inspires peace and unity in the community. And the children love him and the program. VOA’s June Soh met him at a performance in Washington.
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From: MeNeedIt

Research funded by the U.S. Office of Naval Research is helping give sniffer dogs the skills they need to detect complex modern explosives. Faith Lapidus reports.
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From: MeNeedIt