Thursday, November 10, 2011

Justin Bieber's Under The Mistletoe Debuts At #1

Rapper Wale comes in at #2 with Ambition.
By Gil Kaufman


Justin Bieber
Photo: Island Def Jam

It's going to be a very Justin Christmas. As predicted, Justin Bieber will land his second #1 album in a row next week when his holiday disc, Under the Mistletoe, nabs the top spot on the Billboard 200.

And though in recent days he's been facing ongoing questions about the paternity suit filed against him by a 20-year-old woman, Bieber has been promoting Mistletoe hard, which appears to have paid off with sales of 210,000 in its first week. That was more than enough to hold off the second effort from rapper Wale, Ambition, which will come in at #2 (164,000), according to figures provided by Nielsen SoundScan.

Country singer Miranda Lambert is at #3 with Four the Record (133,000), edging out former "Britain's Got Talent" star Susan Boyle, whose second effort, Someone to Watch Over Me, scores a #4 bow thanks to 132,000 units moved. English act Florence and the Machine make it into the top 10 at #6 with Ceremonials (105,000), while singer/actor Tyrese sneaks in at #9 with Open Invitation (76,000).

The rest of the top 10: Adele holds strong at #5 (108,000), Coldplay fall six spots in week two to #7 as Mylo Xyloto sales dropped 77 percent to 104,000, Michael Bublé moved another 89,000 copies of Christmas (#8) and Kelly Clarkson falls eight spots to #10 in her second week with Stronger, which slipped 69 percent on sales of 51,000.

Just outside the top 10, long-running metal act Megadeth come in at #11 with Th1rt3en (42,000), teen singer Jackie Evancho is at #16 with Heavenly Christmas (27,000) and Blink-182 offshoot Angels & Airwaves sneak in at #30 with Love, Part Two (16,000). Further down the line, a remastered version of U2's Achtung Baby lands at #35 (13,000), just barely ahead of the much-derided Lou Reed and Metallica album, Lulu (#36, 13,000).

Over on the iTunes charts, Wale wins the digital-album sales war, taking the #1 position over Bieber, with Florence and the Machine, Coldplay, Lambert and Adele coming in behind. Rounding out the albums list are Angels & Airwaves, Bublé, Tyrese and Clarkson.

Rihanna lords over the iTunes singles chart with "We Found Love," followed by LMFAO's "Sexy and I Know It," Adele's "Someone Like You," Flo Rida's "Good Feeling," David Guetta's "Without You" and Foster the People's "Pumped Up Kicks." Maroon 5's summer smash, "Moves Like Jagger," holds on at #7, beating out T-Pain's "5 O'Clock," Gym Class Heroes' "Stereo Hearts" and Bruno Mars' "It Will Rain."

We will see how strong Mac Miller's pull is next week when his major-label debut, Blue Slide Park, hits the charts, along with the Now 40 collection and the "Twilight: Breaking Dawn - Part 1" soundtrack.

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Source: http://www.mtv.com/news/articles/1674037/justin-bieber-under-the-mistletoe-album-sales.jhtml

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Wednesday, November 9, 2011

GM Blocks Technology In Proposed Saab Sale - Automotive News ...

POSTED: Monday, November 7, 2011

UPDATED: 4:28 pm EST November 7, 2011

General Motors Co. says it won't allow two Chinese companies to use its technology if they go ahead with a planned purchase of Saab Automobile, a former GM unit. Monday's announcement raises doubts about a rescue plan for the ailing Swedish brand, which is being reorganized under bankruptcy protection after running out of cash to pay suppliers and staff. Zhejiang Youngman Lotus Automobile Co. and Pang Da Automobile Trade Co. agreed last month to buy Saab from current owner Swedish Automobile for euro100 million ($140 million). GM, which sold the loss-making brand in 2010, said in a statement it would block existing technology licenses and stop supplying the GM-built Saab 9-4X crossover SUV "following the proposed change in ownership as it would not be in the best interests of GM."
Copyright 2011 by The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Source: http://www.clickondetroit.com/automotive/29706157/detail.html

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Tuesday, November 8, 2011

Guardian Fiberglass Threatens Blogger With Legal Action For ...


Allison Bailes /via
Dr. Allison Bailes knows a bit about how insulation works; he has a PHD in physics. Now he consults on building science at Energy Vanguard, and when he shows a photograph of a fiberglass installation and points out how you shouldn't use pieces that are too long to fit, you can assume he knows what he is talking about.

But Guardian Fiberglass didn't think so; they went legal on him, writing:

Guardian disagrees with [the] assertion that it is difficult to install fiberglass insulation well. ? It is Guardian?s position that these comments by your company together with the picture of Guardian?s products constitute libel, slander, and commercial disparagement.

(you can see the whole legal letter on Green Building Advisor)

When Dr. Bailes complains that fiberglass insulation is difficult to install, he isn't saying anything particularly new or unusual; Martin Holladay wrote in Green Building Advisor two years ago:

Study after study has shown that most fiberglass batt jobs are sloppy. In 2002, the California Energy Commission contracted with researchers Marc Hoeschele, Rick Chitwood, and Bill Pennington to conduct a study of new California homes. In its March 2003 issue, Energy Design Update reported, ?The performance problems uncovered by the study were particularly disappointing in light of the fact that all 30 houses [studied by the researchers] were enrolled in programs promoting building-envelope improvements and duct tightness.?

Carl Seville, the Green Curmudgeon, has suggested that the stuff be outlawed.

Recently, I have inspected several homes that were insulated with fiberglass batts, and, not surprisingly, the quality of the installation was dismal. What I saw could have been an instruction manual on how not to insulate a house. Batts were cut 2 to 3 inches wider than the stud spacing and crammed into the cavities. Not a single batt was split around a wire or pipe, nor were they cut around electrical boxes. Air barriers everywhere were missing. In most cases, the contractor used batts because the homeowners were unwilling to pay the extra cost of a blown-in product, and the contractor was unwilling to absorb the cost of the upgrade.

I wrote in our guide to insulation on Planet Green:

A wall insulated with fiberglass rarely tests at the R-value it was designed for because of all the gaps, settling and vapor barrier issues.


Allison Bailes/via

Dr. Bailes' first reaction was to get out the photoshop felt pen and cover up Guardian's name in all of the photographs. But then the story went viral, or as viral as a story on insulation might get, being picked up by Green Building Advisor and as far away as Australia, so Dr. Bailes decided to fight back, writing yesterday:

It's also unfortunate that Guardian didn't just talk to me about what they wanted rather than pulling out the big guns immediately.....This story isn't big yet. If some of the bigger news outlets pick it up?say Grist or Treehugger or maybe even the big news networks?it could easily spiral out of control. With building materials sales already way down, can you really risk this?

Guardian isn't the first name that pops into mind when one thinks about fiberglass insulation; I was surprised to find that it is a huge international conglomerate with 28 float glass lines and 13 glass fabrication plants around the world.Its glass "covers the Burj Khalifa, the tallest building in the world." In their ethics statement, they pledge:

We do not engage in behavior that we would not be comfortable explaining to our co-workers and families or having reported in the news.

Well I think they have some explaining to do. This behavior is egregious.

More at Energy Vanguard and Green Building Advisor

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Source: http://www.treehugger.com/sustainable-product-design/guardian-fiberglass-threatens-blogger-legal-action-showing-lousy-installation.html

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Good deed quickly repaid on Wisconsin highway (Providence Journal)

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Monday, November 7, 2011

China FX rate within reasonable level: Commerce Minister (Reuters)

BEIJING (Reuters) ? China's yuan exchange rate is within a "basically reasonable level," and it is not the root cause of the China-U.S. trade imbalance, Commerce Minister Chen Deming said in remarks published on Monday.

"If China shows an overall trade balance with other countries but only sees a relatively big trade imbalance with one particular country, that means it is not a result of an exchange rate issue," Chen said in an interview during the G20 Cannes summit.

"Currently, the yuan exchange rate is within a basically reasonable level and our country's trade surplus is just slightly above one percent of GDP," he said, according to the People's Daily, the ruling Communist Party's mouthpiece.

Chen said China faced difficulty in achieving an overall balance of payments because international calls for yuan appreciation had triggered abnormally large inflows of speculative foreign capital.

He also said that China's trade surplus in the first 10 months of 2011 had shrunk by 15 percent from a year-earlier period and he expected the full-year surplus to fall further.

China's trade surplus narrowed in September for a second straight month to $14.5 billion, compared with $17.8 billion in August.

The Administration of Customs is scheduled to publish the October trade figures on Thursday.

China's trade surplus has fallen as a share of GDP as Beijing has enhanced efforts to boost domestic demand and wean its economy from a reliance on exports.

Chen also said that the U.S. should lift restrictions on exports of high-tech products to China, which he regarded as one of the main reasons behind the big China-U.S. trade imbalance.

He also reiterated Beijing's official stance that China would support European countries' actions to cope with the debt crisis and may also consider expanding imports from the euro zone countries.

(Reporting by Aileen Wang and Nick Edwards; Editing by Ken Wills)

Source: http://us.rd.yahoo.com/dailynews/rss/business/*http%3A//news.yahoo.com/s/nm/20111107/bs_nm/us_china_economy_yuan

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Accusations not yet costing Cain in early states

Republican presidential candidate Herman Cain gestures as he walks toward the podium to speak at the Defending the American Dream Summit, Friday, Nov. 4, 2011, in Washington. (AP Photo/Haraz N. Ghanbari)

Republican presidential candidate Herman Cain gestures as he walks toward the podium to speak at the Defending the American Dream Summit, Friday, Nov. 4, 2011, in Washington. (AP Photo/Haraz N. Ghanbari)

Joel Bennett, an attorney for a woman who accused Herman Cain of sexual harassment while both worked at the National Restaurant Association, speaks during a news conference outside his office in Washington, Friday, Nov. 4, 2011. Bennett said she complained about a "series of inappropriate behaviors" in good faith and accepted a financial agreement. (AP Photo/Jose Luis Magana)

Republican presidential hopeful Former House Speaker Newt Gingrich waits with his wife Callista before speaking at the Iowa Republican Party's Ronald Reagan Dinner, Friday, Nov. 4, 2011, in Des Moines, Iowa. Herman Cain's presidential rivals focused Friday on anything but the decade-old sexual harassment allegations dogging the Georgia businessman's campaign. But Gingrich said the tough questions and intense scrutiny comes with a presidential campaign. (AP Photo/Charlie Neibergall)

(AP) ? Republicans in early voting states like Iowa seem to be giving Herman Cain the benefit of the doubt for now ? but they also say they need to know more, nearly a week after the disclosure that he was accused of sexually harassing women who worked for him in the 1990s.

"It's concerning, but it's not a big deal," said Cindy Baddeloo of suburban Des Moines, one of more than two dozen undecided Republican voters interviewed in Iowa, New Hampshire and South Carolina in the days since the allegations ? which Cain has repeatedly denied ? surfaced.

"Nobody's perfect," she said.

The same for LaDonna Ryggs, chairwoman of Spartanburg County GOP in South Carolina. "You give me some substance to the questions, and then we'll talk."

With the furor over the allegations showing no signs of abating, it's an open question whether supporters of Cain's presidential campaign will stick with him, or whether the one-time long shot can increase his base of support at a time when many early state GOP activists are making up their minds.

And while the Georgia businessman topped a national poll taken this week, the new round of questions follow doubts that had already begun to form about him before he became enmeshed in this latest controversy.

"Fair or unfair, is anybody more likely to vote for Herman Cain as a result of these allegations? The answer is no," said Phil Musser, a GOP strategist unaffiliated with any campaign.

Cain was sharply critiqued by his rivals over his tax proposal during a debate in Las Vegas last month. And questions later arose over his loyalty to the GOP base's most enduring litmus test, opposition to abortion, after he said in an interview the decision was a matter of choice.

And the timing is problematic for Cain, too, just two months before the Iowa caucuses and as Cain presumably should be seeking to close the deal with undecided caucus-goers in the state.

He's not slated to return to Iowa for another two weeks, and, if he follows through, he will have made just one trip to the leadoff caucus state over the course of three months. Meanwhile, former Massachusetts Gov. Mitt Romney is stepping it up here, Texas Gov. Rick Perry's gung-ho on advertising and former Pennsylvania Sen. Rick Santorum is hitting his stride.

Cain denied all along that he made suggestive comments to female subordinates while serving as president of the National Restaurant Association. Yet, over the past five days, he has given conflicting accounts about what, if anything, he knew about the alleged incidents as well as whether he knew about financial settlements two of his accusers reportedly received from the trade group.

He's blamed the mainstream media, liberals and Perry's campaign, which said it had nothing to do with it. A black conservative, Cain has said his race has played a factor in the turmoil.

And Friday, a lawyer for one of Cain's accusers disclosed that she alleged "several incidents of sexual harassment" in a complaint filed more than a decade ago, a fresh accusation that complicated the Republican presidential hopeful's determined bid to lay the politically explosive controversy to rest.

"As far as I can see, it wasn't any different than Bill Clinton," said New Hampshire Republican Howard Burrows, arguing Cain could survive the episode.

Likewise, none of the Iowa Republican activists interviewed at a GOP banquet in Des Moines where most of Cain's rivals spoke Friday said the allegations disqualify Cain from their support, or that he should quit the race.

"People are so much more focused on the economy," said Des Moines area Republican Jason McKibben. "They're tired of gutter politics."

Republicans nationally haven't bolted the former national restaurant chain CEO who has recently risen from obscurity to near the top of national polls with Romney.

And a new Washington Post-ABC News survey taken after the allegations emerged Sunday showed Cain and Romney running nearly even atop the field of 2012 GOP presidential hopefuls, with most Republicans dismissing the harassment allegations. Seven in 10 Republicans say reports of the allegations don't matter when it comes to picking a candidate.

But in a sign of the possible danger ahead, the poll found that Cain slipped to third place among those who see the accusations as serious, and Republican women were significantly more likely than men to say the allegations make them less apt to support the businessman.

While the questions apparently haven't struck a blow against Cain in Iowa, their persistence is giving some GOP caucus-goers pause at a critical time.

A poll of likely Iowa caucus-goers sponsored by The Des Moines Register last week showed Cain narrowly leading in Iowa.

But Cain has a smaller campaign staff in the early states than many of his rivals. And he has only visited Iowa once in more than two months, while others are aggressively trying to claim an edge in the fluid caucus campaign.

The questions aren't discouraging Iowa state Rep. Henry Rayhons from siding with Cain ? yet.

"He's got to come clean, or people are going to keep harassing him about it," said Rayhons. "The longer it hangs out there, the less likely I am to support him."

___

Associated Press writers Jim Davenport in South Carolina, Phil Elliott in Iowa, Laurie Kellman in Washington and Holly Ramer in New Hampshire contributed to this report.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/3d281c11a96b4ad082fe88aa0db04305/Article_2011-11-05-Cain-Early%20States/id-d62516c7c2c74dbebd601db369183613

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Sunday, November 6, 2011

How To Tell Your Prof You're Not Coming To Class

We've all done it--just as you press "send," you realize that you spelled your Professor's name wrong. The culture of email is inherently casual, yet we are in a delicate position when we are emailing our professors. CM talked to a few professors and got a sense of tips to consider and things to avoid like the plague.

Structure

"I inherently find myself thinking about the student as an organized person based on the structure of their emails. One student even went to the extent of color-coding their lengthy email to help me stay organized. Some might find that distracting, but I thought it was extremely helpful."

Professor Tsong > Economics > Cornell

DO stay organized in your email. Stay on topic and ensure that you are being both relevant and friendly; there has to be a balance between seeming put-together and sounding like you are bossing them around with requests.

DON'T ramble on in a long email about the various excuses that caused you to miss class. They might not care or worse, think you are lying. A simple "I couldn't make it to class" should suffice for most teachers if you demonstrate you are willing to meet and make up what you missed.

Language

"I almost threw my keyboard out the window when one of my students used 'gonna' in an email to me. Me, of all people!"

Professor Frasier > English > Tufts

Read the rest of this article at College Magazine!

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Source: http://www.huffingtonpost.com/2011/11/04/how-to-tell-your-prof-you_n_1075810.html

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Saturday, November 5, 2011

Controversial Nicaraguan President Daniel Ortega will probably win re-election (Time.com)

Daniel Ortega's closet is filled with skeletons that would terrify the bravest of campaign handlers. The 65-year-old Nicaraguan President ? once the mustachioed Marxist in olive fatigues who bedeviled the Reagan Administration in the 1980s ? has admitted to murdering a National Guardsman in 1967, been convicted of bank robbery, accused by a stepdaughter of sexual abuse and by Miskito Indians of genocide. He's been denounced for confiscating private property and using public office for personal enrichment, and blamed for the systematic undermining of Nicaragua's constitutional order ? including what many legal scholars call his illegitimate bid to win another five-year term this weekend.

With a resume like that, one might expect Ortega to have electability issues. But not in Nicaragua. Ortega, presiding over a record run of economic prosperity in his impoverished Central American nation, is expected to win re-election on Sunday, Nov. 6, by a landslide, even though critics say his candidacy is illegal, the elections are a sham and his victory will mean a return to dictatorship after more than 20 years of democracy. "You can say the Supreme Electoral Council has a dubious reputation and that the legality of Daniel Ortega's candidacy is also dubious, but what's undeniable is that [he] has more support than ever before," says Arturo Cruz, a political science professor at Managua's INCAE business school. "This is a total realignment."(See pictures from the historic Election Day.)

An M&R Consultores voter poll released last week shows Ortega at 58%, with a seemingly insurmountable lead of 40 points over his closest rival, octogenarian radio producer Fabio Gadea, who was a contra rebel supporter during Ortega's first presidency a generation ago. Former President Arnoldo Alem?n ? a conservative who was serving a 20-year sentence for a 2003 corruption conviction when it was overturned by the Ortega-controlled Supreme Court two years ago in what many called a political deal between him and Ortega ? is polling a distant third.

Ortega has engineered a stunning consolidation of political and economic power since his 2006 election. That victory marked a comeback, if not revenge, after he and his revolutionary Sandinista government were voted out of power in 1990 following a decade-long civil war against the U.S.-funded contras. He lost two more presidential bids in 1996 and 2001, before finally regaining the presidency in 2006 with a twiggy 38% of the vote. Since returning to office, Ortega has worked hard to recover traditional Sandinista support and recruit new voters among disenfranchised youth. His selective crackdown on dissidents, while offensive by modern-day Facebook standards, has been tame compared to the Sandinista authoritarianism of the 1980s. And even his brazen assaults on rule of law ? Ortega's questionable candidacy was born in a banana republic moment in 2009, when Sandinista judges amazingly ruled that the constitutional ban on consecutive re-election was unconstitutional ? have been met mostly with indifference in Nicaragua.

The Sandinistas of course insist they're playing by democratic rules and deny Ortega is acting like a dictator. "Imagine, a dictator with no political prisoners ? not one," Tom?s Borge, the Sandinistas' last living founding member and Ortega's feared Interior Minister in the 1980s, said recently. "No one has been exiled during this 'dictatorship.'" Ortega has also gotten an assist from his feckless foes. For the first time ever, Ortega is winning support from independent voters who are traditionally anti-Sandinista, but who have now given up on the opposition. As Ortega's opponents continue to point fingers, squawk and trip over their egos, indy voters realize Ortega is no longer the worst option.(See pictures of people around the world protesting Iran's election.)

Nor do they seem too concerned that the $2 billion in aid poured into Nicaragua since 2006 by Ortega's chief patron, Venezuelan President Hugo Ch?vez, has arguably enriched the party far more than the country. Ortega and Sandinista leaders, in fact, have unabashedly used chunks of the money to purchase private ownership of Nicaraguan companies, sometimes as mixed Venezuelan-Sandinista business ventures, and to corner entire industries in Nicaragua. It's startlingly reminiscent of the personal fiefdom that the Somozas ? the dictator family the Sandinistas overthrew in 1979 ? made of Nicaragua during their long rule. What's more, say critics, Ortega has spent a modest remainder buying votes through social programs and party giveaways like food supplies, roofing materials, basic healthcare services, microcredit loans and other party perks.

Political patronage isn't economic development, but it has helped satisfy the immediate daily needs of the "50 percent of the population whose top priority is survival," says veteran pollster Ra?l Obreg?n. And for Nicaragua's huddled masses, basic needs take priority over democracy. Obreg?n's M&R poll shows that 54.6% of the population thinks it's okay to sacrifice a little institutional democracy to resolve socioeconomic problems, while 33% claim they don't care how a leader gets into power, so long as he resolves peoples' hardships. "People are saying, 'Democracy doesn't feed me; it doesn't fill my stomach,'" says Obreg?n.

At the same time, Ortega has kept the wealthy happy by maintaining macroeconomic stability. Business profits are at all-time highs, and banks are rolling in dollars from the Ch?vez-led alliance of leftist Latin America governments called ALBA. On the streets of Managua, it's not uncommon to see an expensive BMW pass a rickety horse-drawn cart ? both waving Sandinista flags.

Making matters more bizarre is the recent, theatrical conversion of Ortega and his wife, Rosario Murillo, to Christian fundamentalism, which at times seems to have the first lady speaking in tongues. And even though idealists like the international leftists who backed the revolutionary government of the 80s view Ortega's conversion to a Bible-thumping capitalist with sadness, Washington's old cold warriors are still disgruntled. "The developments in Nicaragua are a sad story from the perspective of human rights and respect for democracy," says Elliott Abrams, a controversial Assistant Secretary of State under Reagan. "Every human rights organization has reported on harassment of the press, curbs on freedom of assembly and expression, vast corruption, and manipulation of the courts and of the elections."

Still, few Nicaraguans care what U.S. neocons have to say anymore as Washington's influence flickers ? and especially since Washington's arrogant negligence of their war-torn country after 1990 helped lead to the economic misery that in turn led to Ortega's 2006 comeback. Showing up Uncle Sam might not be Ortega's primary goal ? and his escalating power is less the revenge of his leftist revolution than a confirmation of his caudillo bent ? but it's still a payback that few U.S. adversaries have pulled off as well as the Sandinistas.

Tim Rogers is editor of www.nicaraguadispatch.com.

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Source: http://us.rd.yahoo.com/dailynews/rss/world/*http%3A//news.yahoo.com/s/time/20111104/wl_time/08599209872000

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Suspect in killing of Charice's father surrenders

The suspect in the stabbing death of the father of singer Charice Pempengco of the TV hit show "Glee" surrendered Thursday and admitted responsibility for the crime.

Angel Capili Jr. turned himself in to the chief of his village in General Trias township south of Manila, said Gilbert Cruz, police chief of nearby Laguna province.

Police said Charice's 40-year-old father, construction worker Ricky Pempengco, was stabbed with an ice pick by a drunken man Monday after buying cigarettes at a store.

Story: 'Glee' singer Charice calls for justice for slain father
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Cruz said Capili is also a construction worker but did not know Pempengco.

Teen songstress Charice canceled upcoming concerts and called for justice for her father. She plays a recurring role on "Glee" as exchange student Sunshine Corazon.

Capili told reporters in Manila he was conscience-stricken and ready to face the consequences.

"I had really planned to surrender because what I did was wrong," he told reporters. "I am seeking forgiveness from the family left behind by Mr. Pempengco.... I am prepared to suffer whatever is the judgment."

However, he did not respond when reporters asked why he stabbed the victim.

Story: 'Glee' singer Charice's dad killed in Philippines

Interior Secretary Jesse Robredo, who spoke with Capili, said the suspect said he was assaulted by Pempengco.

"He was claiming that he was already backing away but then (the victim) continued to attack him so he got a screwdriver and he stabbed Mr. Pempengco," Robredo told ABS-CBN television. "We will compare the account of witnesses with the account of the suspect."

Charice flew back to the Philippines and paid respects to her father early Wednesday. She also apologized for canceling the rest of her tour dates, saying "my family comes first." She had been scheduled to perform in Singapore.

"Whoever did this must be brought to justice. Justice must be served, not just for my father but for everyone concerned," she told a radio interview.

Charice had been estranged from her father but said she still loved him.

"He's still my Dad after all," she wrote on Twitter.

The 19-year-old songstress, born Charmaine Clarice Relucio Pempengco, is known throughout Asia from concerts and TV talent shows in the Philippines and South Korea.

Copyright 2011 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Source: http://today.msnbc.msn.com/id/45145812/ns/today-entertainment/

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Friday, November 4, 2011

Wall Street on edge over Greece but Bernanke soothes (Reuters)

NEW YORK (Reuters) ? Stocks rebounded from two days of sharp losses on Wednesday after the Federal Reserve said it is prepared to do more for the economy if conditions warrant, helping to stanch the panicky reaction to Europe's debt crisis.

Trading volume was light, however, possibly signaling that worries about Greece hold greater sway than the Fed at this time. Investors sold heavily this week after Greece said it would hold a referendum on an EU bailout crucial to stabilizing the euro zone's financial system.

Federal Reserve Chairman Ben Bernanke said the central bank was closely monitoring developments in Europe and left open the possibility that the Fed could expand its holdings of mortgage debt if U.S. economic conditions worsened.

"Bernanke was clear that they were prepared to do more, that they have the tools to do more," said Tim Ghriskey, chief investment officer of Solaris Asset Management in Bedford Hills, New York. "We remain in a very volatile situation."

The energy and financial sectors were among the strongest performers on Wednesday after having led the market lower in the previous two sessions.

Some 7.4 billion shares were traded on the NYSE, the Amex and Nasdaq, which was more than 10 percent below the 20-day moving average and well below Tuesday's high volume selloff when over 10 billion shares changed hands.

"There's no volume, which means there's no conviction in the move; the market remains 100 percent "macro" driven, and any news out of Europe could still shift markets," said Eric Lichtenstein, managing director at Knight Capital in Jersey City, New Jersey,

The Dow Jones industrial average rose 178.08 points, or 1.53 percent, at 11,836.04. The Standard & Poor's 500 Index gained 19.62 points, or 1.61 percent, at 1,237.90. The Nasdaq Composite Index added 33.02 points, or 1.27 percent, at 2,639.98.

Also helping Wednesday's market gains, data showed U.S. private employers added more jobs than expected last month, continuing a recent pattern of better-than-expected economic data.

Conditions in Europe remained a wildcard as sources told Reuters the EU and IMF will not release an 8 billion euro payment to Greece until after the country has held its referendum, which could happen in December.

Among advancing stocks, Citigroup Inc gained 2.3 percent to $29.83 and JPMorgan Chase & Co added 2.8 percent to $33.64. The KBW Bank index climbed 3.3 percent.

MasterCard Inc shares jumped 7 percent to $357.66 after the credit card processor reported its quarterly profit easily beat estimates on double-digit increases in volumes.

(Reporting by Edward Krudy; Additional reporting by Ryan Vlastelica; Editing by Kenneth Barry)

Source: http://us.rd.yahoo.com/dailynews/rss/eurobiz/*http%3A//news.yahoo.com/s/nm/20111102/bs_nm/us_markets_stocks

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Los Angeles terminal closed over security breach

A busy terminal at Los Angeles International Airport was shut down for nearly an hour Wednesday morning after a man reportedly tried to evade security.

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    4. Disabled vet says airline left her to sit in own urine
    5. Take a trip ... with a little help from friends

Transportation Safety Administration spokesman Nico Melendez says what could have been drug paraphernalia was spotted in the man's carry-on bag at around 6 a.m. at Terminal 1, which houses Southwest Airlines.

Melendez says the man was directed to secondary screening but instead grabbed the bag and dashed into the terminal.

It was shut down for about 45 minutes until the man was found.

Airport police Sgt. Belinda Nettles says he was arrested on an outstanding warrant, not for a security breach. His name wasn't immediately released.

Copyright 2011 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Source: http://www.msnbc.msn.com/id/45133917/ns/travel-news/

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Thursday, November 3, 2011

Judge rejects Tribune Co's plan to exit bankruptcy (Reuters)

(Reuters) ? Tribune Co, the owner of the Los Angeles Times and Chicago Tribune newspapers, suffered a legal defeat on Monday after a judge late Monday rejected its plan to end its three-year stay in bankruptcy.

The judge also rejected a competing plan from the company's noteholders and but said the company's plan had stronger creditor backing and could be way out of bankruptcy.

"Neither the (company plan) nor the noteholder plan is confirmable. I am uncertain, at this point, what steps the debtors or other parties may take as a consequence of this decision," wrote Delaware's chief bankruptcy judge, Kevin Carey, in a 126-page opinion.

Carey was charged with deciding a range of legal questions, but the key issue was which plan was legally confirmable and offered the company the best path for repaying creditors and ending its bankruptcy.

Tribune, which also owns more than 20 television stations, filed for bankruptcy in 2008, one year after financier Sam Zell led a $13 billion leveraged buyout of the company.

The bankruptcy wiped out more than a billion dollars of the company's notes and the two bankruptcy plans essentially differed in how they treat legal claims from the buyout.

The company and lenders, led by JPMorgan Chase & Co and hedge funds, proposed a settlement payment of around $500 million to noteholders. Noteholders, led by Aurelius Capital Management LP, an uncompromising hedge fund, rejected that as too cheap and wanted to sue those responsible for the buyout.

In a victory for Tribune and its lenders, Carey said the settlement was reasonable and should be approved.

He also acknowledged that the company-backed plan had overwhelming support from various creditors. However, said he was bound by bankruptcy law that essentially allowed the supporters of the company plan to torpedo the noteholder plan and vice versa, making both plans unconfirmable.

Carey also found other flaws with both plans. He wrote that if both the noteholders and the company presented him with plans that fixed the flaws he identified, he would approve the company's plan.

Under either plan, the company would emerge from bankruptcy under the control of lenders. The company also needs the Federal Communications Commission to approve the transfer of the ownership of the broadcast licenses before it can exit bankruptcy.

Carey issued a warning, however, that if a viable exit strategy did not present itself, he would appoint a trustee to replace Tribune's management and find a way to end the bankruptcy.

He set a status hearing for November 22.

Tribune is the fifth-largest U.S. publisher measured by the daily circulation of its papers, according to Dirks, Van Essen & Murray, a newspaper brokerage firm.

The case is In re Tribune Co, U.S. Bankruptcy Court, District of Delaware, No. 08-13141.

(Reporting by Tom Hals and Grant McCool; Editing by Gary Hill)

Source: http://us.rd.yahoo.com/dailynews/rss/enindustry/*http%3A//news.yahoo.com/s/nm/20111101/media_nm/us_tribune

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Wednesday, November 2, 2011

Report: SEC should have kept records it destroyed (AP)

WASHINGTON ? The Securities and Exchange Commission should have kept thousands of documents it destroyed from preliminary investigations of financial firms over nearly two decades, according to a government report released Tuesday.

But the SEC inspector general found no definitive evidence that any of the investigations were harmed as a result.

Inspector General David Kotz said the agency violated federal rules by giving incomplete information to the National Archives last year about the records. The SEC failed to tell archives officials that the agency's 20-year policy had been to discard all documents in closed inquiries that didn't become formal investigations, the report says.

The report follows accusations from an SEC enforcement attorney, who said the agency improperly destroyed documents related to thousands of preliminary inquiries into big Wall Street banks, Bernard Madoff's Ponzi scheme and other cases.

The report stopped short of saying no harm was done by the destruction of records. Kotz said he didn't make "an exhaustive audit or review" of the potential impact.

Kotz said he was referring the matter to the agency's enforcement director for instruction or counseling of the senior enforcement officials who dealt with the National Archives. The officials should be told of the importance of providing complete responses to requests from agencies like the Archives, Kotz said.

In addition, he recommended that the enforcement division take action to determine what documents from closed inquiries are capable of being retrieved.

The report was the latest hit to the SEC's reputation, which has suffered because of its failure to detect the Madoff scheme and other cases of fraud.

Darcy Flynn, the SEC enforcement attorney, has alleged that more than 9,000 records related to preliminary investigations were destroyed. Flynn said they included inquiries into Goldman Sachs, Bank of America, Wells Fargo, Deutsche Bank, Lehman Brothers and Madoff.

Kotz's report mentions documents related to Madoff and the now-defunct Lehman Brothers, whose bankruptcy was a key milestone in the 2008 financial crisis. It says that from 1992 through July 2010, 10,468 preliminary inquiries were closed without developing into formal investigations.

The SEC acknowledged in September that some documents likely were destroyed under the former agency policy that was changed last year. However, the SEC said it didn't believe any current or future investigations were harmed by the policy, which allowed documents to be tossed out in cases that were closed when staffers decided a formal probe wasn't warranted.

The information contained in the documents that were discarded may be available from sources inside or outside the SEC, the agency said.

The SEC's current policy requires all documents to be kept whether they are part of a preliminary probe that is closed or one that develops into a formal investigation. The agency says the policy and practices meet its legal obligations.

SEC spokesman John Nester said Tuesday the agency was pleased that Kotz's review "found no evidence of any improper motive on the part of current or former SEC staff" or of harm to investigations.

"We will continue to work closely with (the National Archives) to resolve any outstanding issues," Nester said.

Sen. Charles Grassley, R-Iowa, a longtime critic of the SEC, said the documents issue "is a messy situation that the SEC needs to clean up, using the guidance and recommendations in this report as a start."

In addition, Grassley said, Kotz should conduct a separate audit of what records were destroyed and the potential effect on enforcement cases.

Source: http://us.rd.yahoo.com/dailynews/rss/stocks/*http%3A//news.yahoo.com/s/ap/20111101/ap_on_bi_ge/us_sec_documents

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Source: http://estateof.com/2011/10/30/car-insurance-comparisons/

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Tuesday, November 1, 2011

Obama to meet with Blair, sign economic order (AP)

WASHINGTON ? President Barack Obama will meet with former British Prime Minister Tony Blair in a private session Monday morning.

In the afternoon, Obama will sign an executive order the White House describes as part of his "We Can't Wait" campaign to help the economy. Saying the country can't wait for Congress, Obama has begun taking unilateral steps that he says will encourage economic growth. The actions do not require congressional approval.

The stalled Middle East peace process is a likely topic for discussion between Blair and Obama. Blair is the Mideast envoy for international mediators who last week failed in their latest attempt to bring Israeli and Palestinian officials back to the bargaining table.

Source: http://us.rd.yahoo.com/dailynews/rss/economy/*http%3A//news.yahoo.com/s/ap/20111031/ap_on_go_pr_wh/us_obama_preview

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