Tuesday 31 January 2012

Rachel McAdams Never Spends "More Than Three Weeks" Without Michael Sheen (omg!)

Rachel McAdams Never Spends "More Than Three Weeks" Without Michael Sheen

When Rachel McAdams and Michael Sheen got together, it wasn't the first time the 33-year-old actress fell for a costar.

PHOTOS: Rachel and other hot Canadians

But unlike her relationship with The Notebook's Ryan Gosling, McAdams tells The Sunday Telegraph's Stella she waited until production wrapped on Midnight in Paris before taking the next step with Sheen, 42.

"Michael and I didn't get together while we were filming Midnight in Paris, which I feel strongly about not doing when I'm working. We became quite good friends, which I think is a great way to start," McAdams says. "I felt very blessed to have made a Woody Allen film in Paris together."

PHOTOS: Costars who turned into couples

Calling Sheen "a very funny person," McAdams admits it's hard being away from her actor beau when she's shooting a movie.

"Michael and I never spend more than three weeks apart -- we rack up a lot of air miles -- but you have to be quite adaptable in this business whether you are in a relationship or not," The Vow star says. "Trying to establish roots somewhere is a bit of a joke."

PHOTOS: Over-the-top star PDA

McAdams' most important relationship rule? "You need to trust each other and be able to talk to each other and be best friends."

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Source: http://us.rd.yahoo.com/dailynews/rss/entertainment/*http%3A//us.rd.yahoo.com/dailynews/external/omg_rss/rss_omg_en/news_rachel_mcadams_never_spends_more_three_weeks_without203115306/44357410/*http%3A//omg.yahoo.com/news/rachel-mcadams-never-spends-more-three-weeks-without-203115306.html

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Monday 30 January 2012

Troopers: At least 9 dead in wrecks on I-75 in Fla

Officials work at the scene of a multi-vehicle wreck on Interstate 75 at Paynes Prairie on Sunday, Jan. 29, 2012, south of Gainesville, Fla. (AP Photo/Matt Stamey, The Gainesville Sun)

Officials work at the scene of a multi-vehicle wreck on Interstate 75 at Paynes Prairie on Sunday, Jan. 29, 2012, south of Gainesville, Fla. (AP Photo/Matt Stamey, The Gainesville Sun)

Officials work at the scene of a multi-vehicle wreck on Interstate 75 at Paynes Prairie on Sunday, Jan. 29, 2012, south of Gainesville, Fla. (AP Photo/The Gainesville Sun, Matt Stamey)

Officials work at the scene of a multi-vehicle wreck on Interstate 75 at Paynes Prairie on Sunday, Jan. 29, 2012, south of Gainesville, Fla. (AP Photo/The Gainesville Sun, Matt Stamey)

Officials work at the scene of a multi-vehicle wreck on Interstate 75 at Paynes Prairie on Sunday, Jan. 29, 2012, south of Gainesville, Fla. (AP Photo/The Gainesville Sun, Matt Stamey)

Officials work at the scene of a multi-vehicle wreck on Interstate 75 at Paynes Prairie on Sunday, Jan. 29, 2012, south of Gainesville, Fla. (AP Photo/Matt Stamey, The Gainesville Sun)

(AP) ? Hazy fog and heavy smoke from a brush fire clouded a north Florida interstate overnight, leaving drivers blinded and causing wrecks that killed at least nine people, authorities said Sunday.

Photographs taken Sunday morning showed the burned-out shells of at least two vehicles and a tractor-trailer, with gray smoke still rising above the asphalt on an otherwise desolate Interstate 75.

Florida Highway Patrol Lt. Patrick Riordan said the pileups happened around 3:45 a.m. on both sides of I-75 south of Gainesville. All lanes of the interstate ? there are three lanes running each direction ? remained closed as investigators began trying to figure out exactly what caused the wrecks. Vehicles were still smoldering, and firefighters sprayed foam to try to put out the fires.

Cars appeared to have smashed into tractor-trailers and, in one case, a motor home. Some cars were badly crushed beneath the wreckage of the larger rigs.

Riordan said several people were injured and taken to Gainesville hospitals. Their conditions were unclear.

At least 18 people hurt in the wreck were being treated at Shands at the University of Florida, said hospital spokeswoman Allison Wilson.

Donna Henry told The Gainesville Sun that she was driving south on the interstate at 3:45 a.m. when she encountered the smoke.

"We just hit it, and you couldn't see anything," said Henry, who was driving with friends back home to Palm Bay. She said her car struck a guardrail and ended up sideways in the outside lane. She pulled off the highway and called 911. She told the paper that she could hear the other crashes.

"You heard like 15 times somebody hit, from this side and that, north and south. It was bad."

The FHP had briefly closed the highway before the crashes because of a mixture of fog and smoke from a marsh fire in the Paynes Prairie area south of Gainesville. Officers patrolling the highway had reopened the road when visibility improved.

Riordan said he is not sure how much time passed between the reopening of the highway and the first crash.

Riordan said this is the worst accident he's seen in his 27-year career with FHP.

Traffic is being diverted onto U.S. 301 and State Road 27, Riordan said.

Heavy fog and smoke were blamed for another serious crash four years ago. In January 2008, four people were killed and 38 injured in a series of similar crashes on Interstate 4 between Orlando and Tampa, about 125 miles south of Sunday's crash. More than 70 vehicles were involved in those crashes, including one pileup that involved 40 vehicles.

___

Associated Press writer Freida Frisaro contributed to this report from Miami.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/386c25518f464186bf7a2ac026580ce7/Article_2012-01-29-Deadly%20Interstate%20Crash/id-7ac9a3535a9a4477b6e6236cc842676d

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93% Pina

All Critics (69) | Top Critics (19) | Fresh (62) | Rotten (5) | DVD (1)

This meditation on movement and space, transportation and transcendence is not to be missed.

What the filmmaker has created is an inspired simulacrum - a jewel-box that contains more of Bausch's kinetic soul than film has any right to.

Crane and steadycam allow Wenders to get so close to the action that in the minimalist Caf? M?ller, one's illusion of being on stage is uncanny.

"Pina"is the best possible tribute to Bausch, and to adventurous image-making.

I watched the film in a sort of reverie.

Whether you're familiar with Pina Bausch's work or not, the new film "Pina" is a knockout.

This seems like a ripping good idea. In practice, "Pina" turns out to have a few problems.

Suggests thrilling new possibilities for the marriage of movies and dance.

Even for someone who would rather count sheep than attend a ballet, these scenes are nothing short of astonishing, beautifully presenting dance's ability to depict words.

You won't hear the names Merce Cunningham, Martha Graham, Paul Taylor or Bob Fosse breathed herein.

An exhilarating experience, both in its celebration of Bausch's groundbreaking work and in the thrilling way that Wenders captures it on camera.

It's not an overview of Bausch's career or a statement on her art, but a celebration of her work and the dancers who bring it to life.

This is a stunning film, a glorious homage to modern dance and one of its premier authors and the best justification of 3D technology to date.

With a breakout use of 3D for artistic rather than solely commercial blockbuster purposes, German director Wim Wenders gives extraordinary life to the work of choreographer Pina Bausch.

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Source: http://www.rottentomatoes.com/m/pina_3d/

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Sunday 29 January 2012

Can one professor teach 500,000 students at once?

Former Stanford professor Sebastian Thrun has already taught a class of 160,000. Now he's aiming to teach 500,000 students. ?

That?s what former Stanford professor Sebastian Thrun aims to do.

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Donald B. Marron is director of the Urban-Brookings Tax Policy Center. He previously served as a member of the President's Council of Economic Advisers and as acting director of the Congressional Budget Office.

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Sound impossible? Well, he?s already taught a class of 160,000 students. As Felix Salmon recounts:

Thrun told the story of his?Introduction to Artificial Intelligence?class, which ran from October to December last year. It started as a way of putting his Stanford course online ? he was going to teach the whole thing, for free, to anybody in the world who wanted it. With quizzes and grades and a final certificate, in parallel with the in-person course he was giving his Stanford undergrad students. He sent out one email to announce the class, and from that one email there was ultimately an enrollment of 160,000 students. Thrun scrambled to put together a website which could scale and support that enrollment, and succeeded spectacularly well.

Just a couple of datapoints from Thrun?s talk: there were more students in his course from Lithuania alone than there are students at Stanford altogether. There were students in Afghanistan, exfiltrating war zones to grab an hour of connectivity to finish the homework assignments. There were single mothers keeping the faith and staying with the course even as their families were being hit by tragedy. And when it finished, thousands of students around the world were educated and inspired. Some 248 of them, in total, got a perfect score: they never got a single question wrong, over the entire course of the class. All 248 took the course online; not one was enrolled at Stanford.

?

And I loved as well his story of the physical class at Stanford, which dwindled from 200 students to 30 students because the online course was more intimate and better at teaching than the real-world course on which it was based.

?Inspired by that experience, Thrun has now founded Udacity, a private online university. As Nick DeSantis of the Chronicle of Higher Education reports:

One of Udacity?s first offerings will be a seven-week course called ?Building a Search Engine.? It will be taught by David Evans, an associate professor of computer science at the University of Virginia and a Udacity partner. Mr. Thrun said it is designed to teach students with no prior programming experience how to build a search engine like Google. He hopes 500,000 students will enroll.

Teaching the course at Stanford, Mr. Thrun said, showed him the potential of digital education, which turned out to be a drug that he could not ignore.

?I feel like there?s a red pill and a blue pill,? he said. ?And you can take the blue pill and go back to your classroom and lecture your 20 students. But I?ve taken the red pill, and I?ve seen Wonderland.?

That Wonderland will be a serious challenge to traditional chalk-and-talk universities ? and a wonderful opportunity to democratize knowledge around the globe.

The Christian Science Monitor has assembled a diverse group of the best economy-related bloggers out there. Our guest bloggers are not employed or directed by the Monitor and the views expressed are the bloggers' own, as is responsibility for the content of their blogs. To contact us about a blogger, click here. To add or view a comment on a guest blog, please go to the blogger's own site by clicking on dmarron.com.

Source: http://rss.csmonitor.com/~r/feeds/csm/~3/eFxYgoPATfE/Can-one-professor-teach-500-000-students-at-once

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Coach honed debating skills of young Newt Gingrich (AP)

ATLANTA ? As a young college professor running for Congress, Newt Gingrich wanted to sharpen his debating skills.

Admirers say the Republican was always a dynamic speaker, but with flaws. He frowned. He titled his head oddly and fell back repeatedly on the same words. He went for the rhetorical jugular. Supporters worried that TV cameras magnified those delivery problems.

Gingrich didn't need to look far for help. In the building next to the one where Gingrich taught history at West Georgia College, professor Chester Gibson coached students whose ranks now include a former Georgia governor, high-powered Atlanta attorneys, judges and preachers. He gave Gingrich free help as a new candidate.

Strong debate performances have kept alive Gingrich's candidacy for the Republican presidential nomination after a bleak period last summer when his staff quit and his campaign fell into debt.

Now retired, Gibson said he still sees Gingrich's old habits ? good and bad ? in the presidential debates.

"Gingrich is clearly the best debater in the final four," said Gibson, who communicates by email because doctors removed his voice box in 2010 during cancer treatment. "No contest. A Gingrich-Obama debate would be one of the great moments in American political history."

The pair met in 1970 when they started teaching at West Georgia College, now called the University of West Georgia. Gibson coached Gingrich before his first unsuccessful run for the House in 1974 and kept working with him until Gingrich won four years later. Gibson said the coaching continued into Gingrich's early years in office. A Gingrich spokesman did not respond to requests for information for this report.

Gibson, 70, said Gingrich's problem was delivery, not substance.

"He was poised, confident, quick on his feet and well versed in both U.S. and world history," Gibson said. "He read everything that he could get his hands on. His greatest asset was his incredible memory."

In their coaching sessions, Gibson said he filmed Gingrich speaking so he could see his mistakes. The students on Gibson's debate team ? one was Randy Evans, now Gingrich's longtime attorney ? listened and critiqued Gingrich's speeches. They researched the positions of his political opponents and constructed arguments. Gibson traveled with Gingrich to debates so they could practice in the car.

Gibson pushed his students to win.

"He just worked endlessly and worked us very hard because he was as competitive as all get-out," said trial lawyer Paul Weathington, one of Gibson's debaters and a nationally ranked debater in college.

Gibson told Gingrich to work on his body language. When listening intently to another speaker, he tended to frown ? a bad habit that Gibson said the Republican candidate has not fully stopped. In fact, Gingrich recently told reporters that his granddaughter told him to smile more and that she counts his grins during debates.

"I am always pleased when I see a grin because I know that he is ready to launch into a great answer to the question," Gibson said.

Years ago, Gibson encouraged Gingrich to tone down grandiose statements, saying they distract the audience from the message.

Then, as now, Gingrich would occasionally cock his head oddly to the right, Gibson said. When he latched onto a word, he'd use it repeatedly.

"Listen to the number of times that he uses the word `frankly,'" Gibson said. "You will lose count."

Gingrich understands how to exploit TV debates and has avoided any major gaffes, said Mitchell McKinney, a communications professor at the University of Missouri who studies presidential debates. When his campaign was lagging, Gingrich baited the front-runners to engage him during debates, which helped him get airtime. He also picks messages that are sure to be replayed on TV. It adds up to free publicity.

"These moments get captured and played over and over," McKinney said.

One such moment came last week in the South Carolina. CNN debate moderator John King started the broadcast by asking Gingrich to respond to his second ex-wife's accusation that he asked her for an open marriage.

"I think the destructive, vicious, negative nature of much of the news media makes it harder to govern this country, harder to attract decent people to run for public office," said Gingrich, on his way to gaining a standing ovation from the audience. "And I am appalled that you would begin a presidential debate on a topic like that."

He won the primary two days later.

___

Follow Ray Henry on Twitter: http://www.twitter.com/rhenryAP

Source: http://us.rd.yahoo.com/dailynews/rss/politics/*http%3A//news.yahoo.com/s/ap/20120127/ap_on_el_pr/us_gingrich_debate_coach

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Saturday 28 January 2012

California passes new auto emission rules (AP)

SAN FRANCISCO ? Seeking to influence other states and Washington, California air regulators passed sweeping auto emission standards Friday that include a mandate to have 1.4 million electric and hybrid vehicles on state roads by 2025.

The California Air Resources Board unanimously approved the new rules that require that one in seven of the new cars sold in the state in 2025 be an electric or other zero-emission vehicle.

The plan also mandates a 75 percent reduction in smog-forming pollutants by 2025, and a 50 percent reduction in greenhouse gas emissions from today's standards.

Automakers worked with the board and federal regulators on the greenhouse gas mandates in an effort to create one national standard for those pollutants.

"Today's vote ... represents a new chapter for clean cars in California and in the nation as a whole," said Mary Nichols, the board's chairman. "Californians have always loved their cars. We buy a lot of them and drive them. Now we will have cleaner and more efficient cars to love."

California's auto emissions standards are influential and often more strict than federal rules. The state began passing regulations for cleaner cars in the 1960s to help ease some of the world's worst smog, and has since helped spur the auto industry's innovations in emissions-control technology.

Currently 14 other states ? including New York, Washington and Massachusetts ? have adopted California's smog emissions rules as their own.

California has also previously set zero-emissions vehicle mandates, which 10 other states have also currently adopted.

Companies including Ford Motor Corp., Chrysler Group LLC, General Motors Co., Nissan Motor Co. Ltd. and others submitted testimony Thursday supportive of the new standards.

Some of the companies protested the inclusion of a system that will give some automakers credit toward their zero-emission vehicle mandate for exceeding federal greenhouse gas emissions standards in other cars. These credits, which can be used to reduce the number of clean vehicles made, can be used from 2018-2021.

Some called it a loophole that will take hundreds of thousands of clean cars off the road, hurting the emerging market for these vehicles.

"This is a temporary way station," Nichols said about the credits. "But by 2021 all companies will be producing the full complement of zero-emission vehicles."

Trade groups representing auto dealers worried that the new regulations would increase the costs of vehicles for consumers and stifle the industry's growth.

The California New Car Dealers Association and other industry groups representing those who sell cars said the board is overestimating consumer demand for electric vehicles and other so-called "zero-emission vehicles."

Dealers are concerned that the regulations will lead to higher costs in all cars, and say consumers have been slow to warm to electric and other zero-emission vehicles.

Board member Sandra Berg, who said she drives the all-electric Nissan Leaf, said before the vote that regulators need to take consumer behavior and choice seriously in this equation.

She said a lot of work must be done to educate dealers to sell the new generation of cars.

"Early adopters (of electric cars) are willing to go without heat to save the miles they need to get to their destination, but that is not going to help grow the consumer base," Berg said, referring to the range issues with some current electric vehicles.

The board's research staff disputes the argument from dealers that the mandates for new technology will increase costs for cars. They point to steady increases in hybrid and other sales and argue that fuel cost savings will make up for any vehicle price increase.

"Our research shows a $1,400 to $1,900 car price increase. But over the life of the vehicles, the owners save $6,000 in reduced fuel and maintenance costs," board spokesman David Clegern said.

One of the nation's foremost consumer groups, the Consumers' Union, the policy and advocacy division of Consumer Reports, supported the changes.

The rules will "protect consumers by encouraging the development of cleaner, more efficient cars that save families money, help reduce the American economy's vulnerability to oil price shocks and reduce harmful air pollution," according to a letter from the group.

Source: http://us.rd.yahoo.com/dailynews/rss/science/*http%3A//news.yahoo.com/s/ap/20120127/ap_on_re_us/us_california_clean_car_standards

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8 sea lions found shot to death near Seattle

By NBC News and msnbc.com staff

SEATTLE -- At least?eight sea lions have been found shot to death in the Puget Sound region in recent weeks, wildlife officials say.

The bodies of seven sea lions were recently found on the Nisqually River, south of Tacoma,?all apparently shot, NBC station KING 5 of Seattle?reported. On Monday, a mature male California sea lion was found dead on West Seattle's Lincoln Park beach.

During a necropsy, the state Department of Fish and?Wildlife removed a bullet from the left lung?of that sea lion, according to?the animal protection group Seal Sitters, which keeps watch over baby seals left on the beach while their mothers?are foraging.

State and federal authorities are investigating, but they said they?don't know who?killed the sea lions. The penalty?could range from fees to possible jail time.

California sea lions are a protected species under the Marine Mammal Protection Act. Stellar sea lions are a federally protected under the Endangered Species Act.

Almost two years ago, five sea lions were found shot to death on West Seattle beaches. In that instance, the Humane Society offered a $2,500 reward for?information leading to an arrest.

Sea lions have proved to be pests in some parts of the Puget Sound. Extensive efforts have been used to prevent them from devouring salmon schooled at the ship locks that lead from Puget Sound into Seattle's Lake Union. Authorities have tried to scare those away with firecrackers, fired rubber bullets and bean bags at them, even captured and trucked them all the way to California. Sea lions that refused to take the hint?have been killed by authorities.

A photograph taken recently and published in the Seattle Times?showed dozens of sea lions on an old barge near the north?end of the Nisqually Delta, where the seven sea lions were found?shot.?

"This is the most sea lions I have ever seen at once in south sound," Pete Topping, a state Fish and Wildlife biologist, told the Times.

Msnbc.com's Gil Aegerter contributed to this report from NBC station KING 5 of Seattle.

More content from msnbc.com and NBC News

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Source: http://usnews.msnbc.msn.com/_news/2012/01/27/10254177-8-sea-lions-found-shot-to-death-near-seattle

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Friday 27 January 2012

GTA III for Android hits 1.3, brings Liberty City to the Transformer Prime

Select iOS and Android devices have had the ability to terrorize Liberty City while on-the-go since December, but sadly those with Transformer Primes thus far have been left out of all that fun. Luckily, an update to the game ends that double standard, enabling Rockstar's classic to run on ASUS' tablet and Medion Lifetabs everywhere. It doesn't just bring expanded hardware support to the table though, as amongst other "technical fixes," the release also heralds new video display settings, Immersion haptics support and the capability of installing the game on a SD card. And fans of tactility, know that controls on the Xperia Play have been reworked, and it now boasts full support for GameStop's wireless controller. Still here? You shouldn't be -- grab the update in the source link below.

GTA III for Android hits 1.3, brings Liberty City to the Transformer Prime originally appeared on Engadget on Thu, 26 Jan 2012 12:56:00 EDT. Please see our terms for use of feeds.

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Source: http://www.engadget.com/2012/01/26/gta-iii-for-android-hits-1-3-brings-liberty-city-to-the-transfo/

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Medication helps some with mild depression (Reuters)

NEW YORK (Reuters Health) ? People with mild depression may benefit from taking antidepressants, suggests a new analysis of past studies that compared symptoms in people on the drugs to those given drug-free placebo pills.

Some earlier reports had suggested that antidepressants generally only improve mood in people with severe depression.

But that might be because those studies weren't precise enough to pick up on smaller changes in symptoms that can still make a difference for people with milder forms of the disease, researchers said.

"I think there's a valid concern... that if someone has not-that-severe depression that hasn't lasted that long, maybe it will get better itself or with therapy," said Dr. David Hellerstein, from the New York State Psychiatric Institute and Columbia University, who worked on the study.

Still, he said the question of whether or not to prescribe medication shouldn't necessarily come down to how severe the depression is, but how long symptoms have lasted.

People with "transient depression" that will improve with diet or exercise or after a few weeks of therapy "shouldn't be taking the risk of being on meds," he told Reuters Health.

"But people who have more persistent depression should be evaluated for treatment and medicine should be one of the options," even when the depression is more modest.

Hellerstein and his colleagues collected data from six studies done at the state's psychiatric institute between 1985 and 2000. Those included 825 people with non-severe, long-lasting depression enrolled in trials that compared symptoms with antidepressant treatment versus a placebo.

In three of the six studies, patients taking an antidepressant improved more on a widely-used scale of depression symptoms and severity than those taking a placebo, and in four studies, a higher percentage of patients taking antidepressants went into remission, meaning they were no longer considered to have clinically-significant depression.

Depending on the particular drug and study, the researchers calculated that between three and eight people with non-severe depression would have to be treated with an antidepressant for one to benefit substantially from it.

That, they wrote in the Journal of Clinical Psychiatry, is "a range considered by researchers as sufficiently robust to recommend treatment."

The drugs tested in those studies included Prozac, as well as older and now less-popular medications known as monoamine oxidase inhibitors and tricyclic and tetracyclic antidepressants. It's hard to know how well the findings would apply for newer antidepressants, the researchers said.

The results don't mean that everyone with mild depression should be on an antidepressant, a psychiatrist not involved in the study pointed out.

"People with these milder depressions also respond well to counseling and psychotherapy and can respond well to exercise," said Dr. Michael Thase, from the University of Pennsylvania School of Medicine in Philadelphia.

"This is basically saying, these antidepressants aren't that good, and you should also consider other treatment options and don't just focus on the thing that's the easiest," he told Reuters Health.

The researchers said that some combination of antidepressants and talk therapy is considered most effective in depression treatment -- but getting therapy is often more expensive and time-consuming than medication.

Talk therapy can run $100 or more per session, while generic brands of antidepressants usually cost about $20 per month. Drugs may come with side effects, including insomnia and stomach aches, but they're usually minor, according to Hellerstein.

Still, people on antidepressants should be followed closely by a doctor to see how they're responding to treatment, he said.

Several of the authors of the current study reported having received funding for other research projects from drug companies that make antidepressants.

One recent study found that some depressed people on the antidepressant Cymbalta did worse than the comparison placebo group -- but the majority got some benefit (see Reuters Health story of December 9, 2011).

"I believe the basic finding that drugs are more effective than placebo," Thase said.

But, "The benefits of antidepressants may not be that dramatic in patients with milder depressions for whom many other (non-drug) strategies can also be considered."

SOURCE: http://bit.ly/yVBEdk Journal of Clinical Psychiatry, online December 27, 2011.

Source: http://us.rd.yahoo.com/dailynews/rss/meds/*http%3A//news.yahoo.com/s/nm/20120126/hl_nm/us_medication_helps_some_with_mild_depression

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Thursday 26 January 2012

Group calls for U.S. to break up Bank of America (Reuters)

(Reuters) ? A group of consumer advocates, academics and economists want to end "too-big-to-fail" banks, starting with Bank of America Corp.

The group, led by consumer advocacy organization Public Citizen, plans to file a petition with the Federal Reserve Board and other regulators on Wednesday asking them to carve the bank into simpler, safer pieces.

The Fed and the coalition of regulators known as the Financial Stability Oversight Council have the authority to take such action under the Dodd-Frank financial reform law passed in 2010, the group said.

Nearly two dozen professors and groups have joined the effort.

It's not clear how much effect the petition will have, and some community groups have declined to sign on.

However, the petition is a dramatic criticism of regulators who have so far done little to shrink giant banks after the 2007-2009 financial crisis.

"Bank of America currently poses a grave threat to U.S. financial stability by any reasonable definition of that phrase," the 24-page petition said.

It said Bank of America, the nation's second-largest bank, is too large and complex, and that its financial condition could deteriorate rapidly at any moment, potentially causing the market to lose confidence in the bank.

"An ensuing run on the bank could cause a devastating financial crisis," the petition said.

David Arkush, director of Public Citizen's Congress Watch division, said a lot of the group's concerns apply to other large banks, but that Bank of America is the institution most exposed to the housing crisis.

"Regulators need to get ahead of this and act proactively to reform Bank of America," Arkush said.

Bank of America has had a tough time emerging from the financial crisis, particularly because of mortgage losses tied to its 2008 Countrywide Financial purchase.

The bank's stock slid 58 percent last year as investors expressed disappointment with the speed of a turnaround and fear about the bank's ability to comply with new capital rules.

Bank of America has fared better this year. It reported improved capital levels in its fourth-quarter earnings report last week, and its stock has risen 31 percent since the start of the year.

Arkush said he doesn't expect regulators to immediately act on the group's petition.

Dodd-Frank includes mechanisms for regulators to break up large financial firms, but it includes high hurdles for such action.

Bank of America, the Fed and the Treasury declined to comment on the planned petition.

Some community groups decided to pass on signing the entreaty. Janis Bowdler, an official with the National Council of La Raza, said the letter was distributed on a list-serve for a coalition called Americans for Financial Reform, but her group decided not to join up.

"I don't want to downplay the concerns that were raised," said Bowdler, "but for now, a strong housing market and cleaning up Countrywide is the priority for us."

NCLR is a national Hispanic civil rights organization. It receives financial support from Bank of America.

The Center for Responsible Lending, which has been critical of banks for mortgage lending practices, has also declined to participate. CRL president Mike Calhoun declined comment.

Bank of America was one of the large banks that received a government bailout during the financial crisis. It paid back the $45 billion in 2009, but analysts say it still needs more capital to absorb mortgage-related losses and to meet new international standards.

(Reporting By Rick Rothacker; Additional reporting by Dave Clarke in Washington and David Henry in New York; Editing by Phil Berlowitz)

Source: http://us.rd.yahoo.com/dailynews/rss/economy/*http%3A//news.yahoo.com/s/nm/20120125/bs_nm/us_bankofamerica_breakup

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Megaupload founder joked about his 'hacker' past

WELLINGTON, New Zealand (AP) ? Two years ago, Megaupload founder Kim Dotcom joked in emails with his new neighbors in New Zealand about his bad-boy reputation before telling them his criminal past was behind him and he was coming to the country with good intentions.

"I am a former hacker" who was once convicted of insider trading, he wrote, before going on to say "In all seriousness: My wife, two kids and myself love New Zealand and 'We come in peace.'"

Dotcom's emails came to light Wednesday, the same day a New Zealand judge denied him bail following his arrest on U.S. accusations of copyright infringement and a U.S. official confirmed the arrest of a fifth member of his company.

Judge David McNaughton in Auckland denied Dotcom bail pending a hearing Feb. 22 on his possible extradition to face trial in the United States, saying Dotcom poses a flight risk. Dotcom, 38, insists he is innocent and poses no flight risk.

New Zealand police arrested three other Megaupload employees last week on U.S. accusations they facilitated millions of illegal downloads of films, music and other content, costing copyright holders at least $500 million in lost revenue. McNaughton is expected to make bail rulings on the three later this week or early next week.

In Washington, a U.S. Justice Department official said Dutch police have arrested a fifth suspect ? software programmer Andrus Nomm, 32, a citizen of Estonia and a resident of both Turkey and Estonia. The official spoke on condition of anonymity because the case is still pending.

In New Zealand, Dotcom's neighbor Kevin Crossley said Dotcom cut an imposing figure when he took a lease on the $24 million luxury mansion in their sleepy neighborhood of Coatesville, near Auckland. Crossley said he never met Dotcom, but he would see him zooming past in luxury cars when he went horse riding.

Dotcom sent emails to Crossley's wife France Komoroski and other neighbors, joking that "a criminal neighbor like me" could help them with insider stock tips and tax fraud. But then he turned serious.

"Fifteen years ago I was a hacker and 10 years ago I was convicted for insider trading," he wrote. "Hardly the kind of crimes you need to start a witch hunt for. Since then I have been a good boy, my criminal records have been cleared, and I created a successful Internet company that employs 100+ people."

Dotcom first developed a reputation as a computer hacker in his native Germany, where he was born Kim Schmitz.

Later, in 2002, he received a 20-month suspended sentence after being found guilty of manipulating stock prices to earn himself $1.1 million.

The flamboyant Dotcom also made headlines after the terrorist attacks of 9/11 when he offered a $10 million reward on his website for information leading to the capture of al-Qaida leader Osama bin Laden.

In New Zealand, Prime Minister John Key faced awkward questions Wednesday about how immigration officials could have granted Dotcom residency despite his prior convictions ? and then the government could later turn down his application to buy the Coatesville mansion due to questions over his character prompted by those same convictions.

Key said Dotcom had disclosed his convictions in his immigration application but that enough time had elapsed to give him a clean slate. Key acknowleged it seemed inconsistent that the test for buying land would be higher than the test for residency.

"What I've asked my officials to do, is to go away and have a look, because there's clearly a potential anomoly there," Key told reporters Wednesday.

In all, U.S. authorities have charged seven men in the conspiracy case and are still seeking the arrest of the remaining two men.

Authorities in the U.S. are seeking to extradite the four men arrested in New Zealand and are also expected to seek Nomm's extradition.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/495d344a0d10421e9baa8ee77029cfbd/Article_2012-01-25-AS-New-Zealand-Megaupload/id-6b98bf9473dd42c880f3c60644c880e5

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Wednesday 25 January 2012

Wall Street flat, rally could resume on earnings (Reuters)

NEW YORK (Reuters) ? Stocks were little changed on Monday as recent earnings reports and development in the euro zone provided little incentive to disrupt the recent tone for equities on the heels of the best weekly performance by the S&P 500 in a month.

U.S. stocks are up nearly 5 percent for the year as an improving U.S. economy and earnings that have largely met expectations have boosted investor optimism. The Dow and S&P 500 both had their best weekly performances in a month last week.

According to Thomson Reuters data, 15 percent of S&P 500 companies have reported earnings, with 59 percent posting results above Wall Street expectations.

While the percentage of fourth-quarter earnings reports that beat estimates has trailed recent quarters, the rate is expected to improve as earnings season picks up steam. For the week of January 23, 117 S&P 500 companies are expected to report earnings.

"This is the momentum trade. The market got out of gates very strong this year," said Peter Kenny, managing director at Knight Capital in Jersey City, New Jersey.

"Earnings have been very cooperative in terms of keeping the tone positive. Macroeconomic data out of Washington has remained slightly better than expected, the employment numbers have helped. There are a lot of parts to this puzzle that are supporting a positive tone and a constructive internal character to the market."

The euro zone crisis was still lurking in the background. Germany and France pushed for a deal between Greece and its private creditors and said they remained dedicated to a new bailout that is needed by March to stave off a default. Euro zone finance ministers could decide later Monday what debt restructuring terms they would accept.

The Dow Jones industrial average (.DJI) was down 35.20 points, or 0.28 percent, at 12,685.28. The Standard & Poor's 500 Index (.SPX) dipped 2.61 points, or 0.20 percent, at 1,312.77. The Nasdaq Composite Index (.IXIC) was off 8.48 points, or 0.30 percent, at 2,778.22.

Halliburton Co (HAL.N) shares fell 3.2 percent to $35.03 after the world's second largest oilfield services group warned the deep slump in U.S. natural gas prices could cause near-term disruptions that pinch first-quarter earnings.

Research In Motion Ltd's (RIM.TO)(RIMM.O) fell 6.6 percent to $15.87 as analysts were skeptical about the resignation of the BlackBerry maker's co-chief executives.

Sears Holding Corp (SHLD.O) advanced 3 percent to $50.47, easing from a session high of $54.76 in what analysts said could be a short squeeze.

The stock is the most shorted stock in the S&P 500, according to Data Explorers, with 94 percent of shares available used to sell short. The retailer has been the best performing stock in the index for the year, up more than 50 percent.

"That is a classic short squeeze. There have been headlines all over the name now for the better part of a month or so and it's largely been quite negative," said Knight Capital's Kenny.

Chesapeake Energy Corp (CHK.N) gained 4 percent to $21.80 after it said it will reduce dry gas drilling and cut production in response to natural gas prices falling below "economically unattractive levels".

(Reporting By Chuck Mikolajczak; editing by Jeffrey Benkoe)

Source: http://us.rd.yahoo.com/dailynews/rss/stocks/*http%3A//news.yahoo.com/s/nm/20120123/bs_nm/us_markets_stocks

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PSU's O'Brien: An 'honor' to follow Paterno (AP)

STATE COLLEGE, Pa. ? Bill O'Brien says it's an honor to follow the late Joe Paterno as Penn State's next head coach.

In an interview Monday, O'Brien says he will create his own identity and that no one will ever replace Paterno, who won 409 games and two national championships.

Paterno died Sunday at age 85 just 65 days after his son Scott said his father had been diagnosed with lung cancer.

O'Brien says he never got to speak with Paterno in person following his hiring Jan. 7.

The two did talk by phone soon after O'Brien arrived. O'Brien says he wanted Paterno to know he would work hard to preserve the traditions of winning and academics in the new Penn State regime.

Source: http://us.rd.yahoo.com/dailynews/rss/sports/*http%3A//news.yahoo.com/s/ap/20120123/ap_on_sp_co_ne/fbc_penn_state_o_brien

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Tuesday 24 January 2012

NFC Championship quiz: Are you a real 49er fan?

Asher Elias was galvanized into activism on behalf of his fellow Ethiopian Jews in Israel by a 1996 revelation.

Asher Elias uses high-tech training to lift Ethiopian Jews in Israel

In Israel, most Ethiopian Jews are trapped at the bottom of society in dead-end jobs. Asher Elias gives them high-tech training to boost their upward mobility.

Source: http://rss.csmonitor.com/~r/feeds/csm/~3/VJYCfWhK0xo/NFC-Championship-quiz-Are-you-a-real-49er-fan

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Monday 23 January 2012

How to Make Cheap Whiskey Taste Like Fancy Whiskey [Video]

You like whiskey. You looooove good whiskey. You can't afford to drop hundreds of dollars on high-end bottle. You stick with rotgut, right? Nope. There's a new process of hyper-aging booze that apparently turns run-of-the-mill whiskey into dark and delicious firewater of the gods. More »


Source: http://feeds.gawker.com/~r/gizmodo/full/~3/9MTn2sTIIzU/how-to-make-cheap-whiskey-taste-like-fancy-whiskey

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Amid scandal, revered PSU coach Joe Paterno dies (AP)

STATE COLLEGE, Pa. ? Happy Valley was perfect for Joe Paterno, a place where "JoePa" knew best, where he not only won more football games than any other major college coach, but won them the right way: with integrity and sportsmanship. A place where character came first, championships second.

Behind it all, however, was an ugly secret that ran counter to everything the revered coach stood for.

Paterno, a sainted figure at Penn State for almost half a century but scarred forever by the child sex abuse scandal that led to his stunning dismissal, died Sunday at age 85.

His death came just 65 days after his son Scott said his father had been diagnosed with a treatable form of lung cancer. The cancer was found during a follow-up visit for a bronchial illness. A few weeks later, Paterno broke his pelvis after a fall but did not need surgery.

Mount Nittany Medical Center said in a statement that Paterno died at 9:25 a.m. of "metastatic small cell carcinoma of the lung." Metastatic indicates an illness that has spread from one part of the body to an unrelated area.

The hospital says Paterno was surrounded by family members, who have requested privacy.

Paterno had been in the hospital since Jan. 13 for observation after what his family called minor complications from his cancer treatments. Not long before that, he conducted his only interview since losing his job, with The Washington Post. Paterno was described as frail then, speaking mostly in a whisper and wearing a wig. The second half of the two-day interview was conducted at his bedside.

His family released a statement Sunday morning to announce his death: "His loss leaves a void in our lives that will never be filled."

"He died as he lived," the statement said. "He fought hard until the end, stayed positive, thought only of others and constantly reminded everyone of how blessed his life had been. His ambitions were far reaching, but he never believed he had to leave this Happy Valley to achieve them. He was a man devoted to his family, his university, his players and his community."

Paterno's death just under three months following his last victory called to mind another coaching great, Alabama's Paul "Bear" Bryant, who died less than a month after retiring.

"Quit coaching?" Bryant said late in his career. "I'd croak in a week."

Paterno alluded to the remark made by his friend and rival, saying in 2003: "There isn't anything in my life anymore except my family and my football. I think about it all the time."

Two police officers were stationed to block traffic on the street where Paterno's modest ranch home stands next to a local park. The officers said the family had asked there be no public gathering outside the house, still decorated with a Christmas wreath, so Paterno's relatives could grieve privately. And, indeed, the street was quiet on a cold winter day.

Paterno's sons, Scott and Jay, arrived separately at the house late Sunday morning. Jay Paterno, who served as his father's quarterbacks coach, was crying.

Paterno built a program based on the credo of "Success with Honor," and he found both. The man known as "JoePa" won 409 games and took the Nittany Lions to 37 bowl games and two national championships. More than 250 of the players he coached went on to the NFL.

"He will go down as the greatest football coach in the history of the game," Ohio State coach Urban Meyer said after his former team, the Florida Gators, beat Penn State 37-24 in the 2011 Outback Bowl.

Paterno roamed the sidelines for 46 seasons, his thick-rimmed glasses, windbreaker and jet-black sneakers as familiar as the Nittany Lions' blue and white uniforms.

The reputation he built looked even more impressive because he insisted that on-field success not come at the expense of high graduation rates.

But in the middle of his 46th season, the legend was shattered. Paterno was engulfed in a child sex abuse scandal when a former trusted assistant, Jerry Sandusky, was accused of molesting 10 boys over a 15-year span, sometimes in the football building.

Outrage built quickly when the state's top cop said the coach hadn't fulfilled a moral obligation to go to the authorities when a graduate assistant, Mike McQueary, told Paterno he saw Sandusky with a young boy in the showers of the football complex in 2002.

At a preliminary hearing for the school officials, McQueary testified that he had seen Sandusky attacking the child with his hands around the boy's waist but said he wasn't 100 percent sure it was intercourse. McQueary described Paterno as shocked and saddened and said the coach told him he had "done the right thing" by reporting the encounter.

Paterno waited a day before alerting school officials and never went to the police.

"I didn't know which way to go ... and rather than get in there and make a mistake," Paterno said in the Post interview.

"You know, (McQueary) didn't want to get specific," Paterno said. "And to be frank with you I don't know that it would have done any good, because I never heard of, of, rape and a man. So I just did what I thought was best. I talked to people that I thought would be, if there was a problem, that would be following up on it."

When the scandal erupted in November, Paterno said he would retire following the 2011 season. He also said he was "absolutely devastated" by the abuse case.

"This is a tragedy," he said. "It is one of the great sorrows of my life. With the benefit of hindsight, I wish I had done more."

But the university trustees fired Paterno, effective immediately. Graham Spanier, one of the longest-serving university presidents in the nation, also was fired.

Paterno was notified by phone, not in person, a decision that board vice chairman John Surma regretted, trustees said. Lanny Davis, the attorney retained by trustees as an adviser, said Surma intended to extend his regrets over the phone before Paterno hung up him.

After weeks of escalating criticism by some former players and alumni about a lack of transparency trustees last week said they fired Paterno in part because he failed a moral obligation to do more in reporting the 2002 allegation.

An attorney for Paterno on Thursday called the board's comments self-serving and unsupported by the facts. Paterno fully reported what he knew to the people responsible for campus investigations, lawyer Wick Sollers said.

"He did what he thought was right with the information he had at the time," Sollers said.

The university handed the football team to one of Paterno's assistants, Tom Bradley, who said Paterno "will go down in history as one of the greatest men, who maybe most of you know as a great football coach."

"As the last 61 years have shown, Joe made an incredible impact," said the statement from the family. "That impact has been felt and appreciated by our family in the form of thousands of letters and well wishes along with countless acts of kindness from people whose lives he touched. It is evident also in the thousands of successful student athletes who have gone on to multiply that impact as they spread out across the country."

New Penn State football coach Bill O'Brien, hired earlier this month, offered his condolences.

"The Penn State Football program is one of college football's iconic programs because it was led by an icon in the coaching profession in Joe Paterno," O'Brien said in a statement. "There are no words to express my respect for him as a man and as a coach. To be following in his footsteps at Penn State is an honor. Our families, our football program, our university and all of college football have suffered a great loss, and we will be eternally grateful for Coach Paterno's immeasurable contributions."

Paterno believed success was not measured entirely on the field. From his idealistic early days, he had implemented what he called a "grand experiment" ? to graduate more players while maintaining success on the field.

"He maintained a high standard in a very difficult profession. Joe preached toughness, hard work and clean competition," Sandusky said in a statement. "Most importantly, he had the courage to practice what he preached."

Paterno was a frequent speaker on ethics in sports, a conscience for a world often infiltrated by scandal.

The team consistently ranked among the best in the Big Ten for graduating players. As of 2011, it had 49 academic All-Americans, the third-highest among schools in the Football Bowl Subdivision. All but two played under Paterno.

"He teaches us about really just growing up and being a man," former linebacker Paul Posluszny, now with the NFL's Jacksonville Jaguars, once said. "Besides the football, he's preparing us to be good men in life."

Paterno certainly had detractors. One former Penn State professor called his high-minded words on academics a farce, and a former administrator said players often got special treatment. His coaching style often was considered too conservative. Some thought he held on to his job too long, and a move to push him out in 2004 failed.

But the critics were in the minority, and his program was never cited for major NCAA violations. The child sex abuse scandal, however, did prompt separate inquiries by the U.S. Department of Education and the NCAA into the school's handling.

Paterno played quarterback and defensive back for Brown University and set a defensive record with 14 career interceptions, a distinction he still boasted about to his teams in his 80s. He graduated in 1950 with plans to go to law school. He said his father hoped he would someday be president.

But when Paterno was 23, a former coach at Brown was moving to Penn State to become the head coach and persuaded Paterno to come with him as an assistant.

"I had no intention to coach when I got out of Brown," Paterno said in 2007 in an interview at Penn State's Beaver Stadium before being inducted into college football's Hall of Fame. "Come to this hick town? From Brooklyn?"

In 1963, he was offered a job by the late Al Davis ? $18,000, triple his salary at Penn State, plus a car to become general manager and coach of the AFL's Oakland Raiders. He said no. Rip Engle retired as Penn State head coach three years later, and Paterno took over.

At the time, Penn State was considered "Eastern football" ? inferior ? and Paterno courted newspaper coverage to raise the team's profile. In 1967, PSU began a 30-0-1 streak.

But Penn State couldn't get to the top of the polls. The Nittany Lions finished second in 1968 and 1969 despite perfect seasons. They were undefeated and untied again in 1973 at 12-0 again but finished fifth. Texas edged them in 1969 after President Richard Nixon, impressed with the Longhorns' bowl performance, declared them No. 1.

"I'd like to know," Paterno said later, "how could the president know so little about Watergate in 1973, and so much about college football in 1969?"

A national title finally came in 1982, after a 27-23 win over Georgia at the Sugar Bowl. Another followed in 1986 after the Lions intercepted Vinny Testaverde five times and beat Miami 14-10 in the Fiesta Bowl.

They made several title runs after that, including a 2005 run to the Orange Bowl and an 11-1 season in 2008 that ended in a 37-23 loss to Southern California in the Rose Bowl.

In his later years, physical ailments wore the old coach down.

Paterno was run over on the sideline during a game at Wisconsin in November 2006 and underwent knee surgery. He hurt his hip in 2008 demonstrating an onside kick. An intestinal illness and a bad reaction to antibiotics prescribed for dental work slowed him for most of the 2010 season. He began scaling back his speaking engagements that year, ending his summer caravan of speeches to alumni across the state.

Then a receiver bowled over Paterno at practice in August, sending him to the hospital with shoulder and pelvis injuries and consigning him to coach much of what would be his last season from the press box.

"The fact that we've won a lot of games is that the good Lord kept me healthy, not because I'm better than anybody else," Paterno said two days before he won his 409th game and passed Eddie Robinson of Grambling State for the most in Division I. "It's because I've been around a lot longer than anybody else."

Paterno could be conservative on the field, especially in big games, relying on the tried-and-true formula of defense, the running game and field position.

He and his wife, Sue, raised five children in State College. Anybody could telephone him at his home ? the same one he appeared in front of on the night he was fired ? by looking up "Paterno, Joseph V." in the phone book.

He walked to home games and was greeted and wished good luck by fans on the street. Former players paraded through his living room for the chance to say hello. But for the most part, he stayed out of the spotlight.

Paterno did have a knack for jokes. He referred to Twitter, the social media site, as "Twittle-do, Twittle-dee."

He also could be abrasive and stubborn, and he had his share of run-ins with his bosses or administrators. And as his legend grew, so did the attention to his on-field decisions, and the questions about when he would hang it up.

Calls for his retirement reached a crescendo in 2004. The next year, Penn State went 11-1 and won the Big Ten. In the Orange Bowl, PSU beat Florida State, whose coach, Bobby Bowden, was eased out after the 2009 season after 34 years and 389 wins.

Like many others, he was outlasted by "JoePa."

Source: http://us.rd.yahoo.com/dailynews/rss/sports/*http%3A//news.yahoo.com/s/ap/20120122/ap_on_sp_co_ne/fbc_obit_joe_paterno

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Sunday 22 January 2012

AP Exclusive: US talks to Afghan insurgent group (AP)

ISLAMABAD ? Anxious to accelerate peace moves, top-level U.S. officials have held talks with a representative of an insurgent movement led by a former Afghan prime minister who has been branded a terrorist by Washington, a relative of the rebel leader says.

Dr. Ghairat Baheer, a representative and son-in-law of longtime Afghan warlord Gulbuddin Hekmatyar (Gul-bu-DEEN HEK-mah-tyar), told The Associated Press this week that he had met separately with David Petraeus, former commander of NATO forces in Afghanistan who is now CIA director, and had face-to-face discussions earlier this month with U.S. Ambassador Ryan Crocker and U.S. Marine Gen. John Allen, currently the top commander in the country.

Baheer, who was released in 2008 after six years in U.S. detention at Bagram Air Field in Afghanistan, described his talks with U.S. officials as nascent and exploratory. Yet, Baheer says the discussions show that the U.S. knows that in addition to getting the blessing of Taliban chief Mullah Mohammad Omar ? a bitter rival of Hekmatyar even though both are fighting international troops ? any peace deal would have to be supported by Hekmatyar, who has thousands of fighters and followers primarily in the north and east.

Hizb-i-Islami, which means Islamic party, has had ties to al-Qaida but in 2010 floated a 15-point peace plan during informal meetings with the Afghan government in Kabul. At the time, however, U.S. officials refused to see the party's delegation.

"Hizb-i-Islami is a reality that no one can ignore," Baheer said during an interview last week at his spacious home in a posh suburb of Pakistan's capital, Islamabad. "For a while, the United States and the Kabul government tried not to give so much importance to Hizb-i-Islami, but now they have come to the conclusion that they cannot make it without Hizb-i-Islami."

In Washington, National Security Council spokeswoman Caitlin Hayden would not confirm that such meetings took place but said the U.S. was maintaining "a range of contacts in support of an Afghan-led reconciliation process."

A U.S. official, speaking on condition of anonymity to discuss the high-level meetings, said Petraeus last met with Baheer in July 2011 when he was still commanding NATO forces in Afghanistan. Petraeus took over as CIA director in September.

On Saturday, Afghan President Hamid Karzai said he also had met recently with Hizb-i-Islami representatives. Baheer said he attended those meetings but added that the party considers the Afghan government corrupt and lacking legitimacy.

Karzai's announcement appeared intended to bolster his position as the key player in the search for peace. The U.S. repeatedly has said that formal negotiations must be Afghan-led, but Karzai has complained that his government has not been directly involved in recent preliminary talks with Taliban representatives and plans for setting up a Taliban political office in the Gulf state of Qatar.

Baheer said his meeting with Petraeus, whom he described as a "very humble, polite person," was marked by a few rounds of verbal sparring with each boasting a battlefield strength that the other dismissed as exaggerated.

"There was a psychological war in these first meetings," he said.

Baheer said Crocker and Allen tried to persuade Hizb-i-Islami to become part of Afghanistan's political network, accept the Afghan security forces and embrace the nation's current constitution. He said Hizb-i-Islami was ready to accept the security forces and the constitution, but wants a multiparty commission established to review and revise the charter.

"We are willing to make compromises," said Baheer. "We already have said we will accept the Afghan army and the police."

He said Hizb-i-Islami envisioned a multiparty government in postwar Afghanistan. At the same time, the group wants all U.S. and NATO forces, including military trainers, to leave Afghanistan, he said.

"The presence of any foreign forces will be not acceptable to us under any cover," he said. "Daily, there is another American killing of civilians. The longer they stay, the more they are hated by the Afghan people."

Overtures to Hekmatyar's group show not only the degree of U.S. interest in pursuing a settlement but also the complexity of putting together an agreement acceptable to all sides in factious Afghanistan. The U.S. formally declared Hekmatyar a "global terrorist" in 2003 because of alleged links to al-Qaida and froze all assets which he may have in the United States.

Hekmatyar, who is in his mid-60s, was among the major recipients of U.S. aid during the Afghan war against the Soviets in the 1980s. He and other anti-Soviet commanders swept into Kabul in 1992 and ousted the pro-Soviet government, only to turn against one another in a bitter and bloody power struggle that destroyed vast sections of the Afghan capital and killed an estimated 50,000 civilians before the Taliban seized the city.

A bitter rival of Mullah Omar, Hekmatyar fled to Iran and remained there until the Taliban were ousted in the 2001 U.S.-led invasion. He declared war on foreign troops in his country and rebuilt his military forces, which by 2008 had become a major threat to the U.S.-led coalition.

Contacts with Hekmatyar's group as well as parallel efforts to negotiate with the Taliban have taken on new urgency following the NATO decision to withdraw foreign combat forces, transfer security responsibility to the Afghans by the end of 2014 and bring an end to the unpopular war, which is increasingly seen as a drain on the financially strapped Western countries that provide most of the troops.

On Sunday, the U.S. special envoy to Afghanistan and Pakistan, Marc Grossman, completed two days of meetings about the peace process with Karzai and other Afghan officials. Grossman, who was to travel to Qatar on Monday, urged the Taliban to issue a "clear statement" against international terrorism and affirm their commitment to the peace process "to end the armed conflict in Afghanistan."

U.S. officials also have reached out to the Pakistan-based Haqqani militant network to test its interest in peace talks. Haqqani fighters, the second largest insurgent group after the Taliban, have been blamed for most of the high-profile attacks in the heart of the Afghan capital.

___

Kathy Gannon is AP special regional correspondent covering Pakistan and Afghanistan. She can be reached at http://www.twitter.com/kathygannon

___

Associated Press writers Deb Riechmann in Kabul and Kimberly Dozier and Anne Gearan in Washington contributed to this report.

Source: http://us.rd.yahoo.com/dailynews/rss/topstories/*http%3A//news.yahoo.com/s/ap/20120122/ap_on_re_as/as_afghan_talks

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Investing Basics ? What Are Your Investment Targets ? ArticlePodcat ...

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Source: http://www.articlepodcat.com/2012/01/21/investing-basics-what-are-your-investment-targets/

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Saturday 21 January 2012

IBM 4Q earnings beat estimates, revenue falls shy (AP)

SAN FRANCISCO ? IBM Corp.'s fourth-quarter earnings handily beat Wall Street's expectations on Thursday, helped by higher revenue and profit margins in the technology icon's lucrative software and services segments.

The results and IBM's stronger-than-expected outlook for this year sent IBM's stock up more than 2 percent after hours. The company offered a welcome sign of stability amid the global economic turmoil that's prompting worries about a slowdown in technology spending by businesses and governments, who are IBM's customers.

One sore spot was revenue, which fell short of analyst expectations; the rise in software and services revenue wasn't enough to offset a decline in hardware. Also, the stronger dollar is squeezing overseas revenue.

IBM earned $5.49 billion, or $4.62 per share, in the three months that ended Dec. 31. That's up 4 percent from $5.26 billion, or $4.25 per share, a year earlier. Adjusted earnings were $4.71 per share, easily surpassing analysts' expectations of $4.61 per share.

Revenue grew 2 percent to $29.49 billion from $29.02 billion. Analysts polled by FactSet had expected slightly higher revenue of $29.7 billion.

IBM said currency shifts since its last quarterly report in October lowered fourth-quarter revenue by about $300 million. The deepening economic crisis in Europe, along with the continuing weakness in the U.S. economy and signs of a slowdown in emerging markets are prompting worries about global companies like IBM.

But IBM has long said its long-term contracts insulate it from economic swings, and its full-year forecast is bright. IBM expects adjusted earnings of at least $14.85 per share, above the $14.77 per share that analysts are predicting.

New CEO Ginni Rometty said IBM is "well on track" toward its long-term goal of hitting at least $20 per share in adjusted earnings in 2015 ? a rare example of a long-term earnings target disclosed publicly by a such a large company.

Revenue rose at two of IBM's three largest divisions ? software by 9 percent and services by 3 percent. Hardware revenue fell 8 percent. In the third quarter, IBM's services revenue grew 8 percent, its software revenue climbed 13 percent and its hardware revenue rose 4 percent.

By geography, IBM said revenue from the Americas grew 3 percent in the fourth quarter. Revenue from Europe, the Middle East and Africa combined was up 1 percent and revenue from Asia increased 2 percent.

IBM said its new contract signings were $20.4 billion in the fourth quarter, slightly above analysts' expectations. The company's services backlog at the end of the year was $141 billion, up by $4 billion from the end of the third quarter. Services backlog refers measures the value of work under contract that the company expects to book as revenue in future quarters.

For all of 2011, IBM earned $15.86 billion, or $13.06 per share, up 7 percent from $14.83 billion, or 11.52 per share, a year earlier. Adjusted earnings were $13.44 per share, above analysts' expectations of $13.36 per share.

Revenue was $106.92 billion, up 7 percent from $99.87 billion in 2010. Wall Street was expecting $107.08 billion.

The Armonk, N.Y.-based company's stock rose $4.53, or 2.5 percent, to $185.05 after hours. The stock had closed down 55 cents at $180.52.

Source: http://us.rd.yahoo.com/dailynews/rss/earnings/*http%3A//news.yahoo.com/s/ap/20120120/ap_on_hi_te/us_earns_ibm

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