Monday, November 28, 2011

Company's Expansion Leading to 75 More Jobs in Greensboro

A healthcare firm's expansion will lead to 75 more jobs in Guilford County, Gov. Bev Perdue announced in a news release Wednesday.

SPi Healthcare, formerly known as Springfield Service Corporation, will expand its Greensboro operations, creating the new jobs and investing $350,000 over the next three years, Perdue said.

A $75,000 grant from the state helped in part with the expansion, Perdue said.

The company helps healthcare organizations improve their financial health by working through tightening revenue margins, as well as a drop in reimbursements.

SPi's Greensboro facility will offer full business process outsourcing, among other things, Perdue said.

The average annual wage for the news jobs will be $28,060, plus benefits. For more information on the company, go to http://www.spihealthcare.com/.

Source: http://eastgreensboro.myfox8.com/news/news/65768-companys-expansion-leading-75-more-jobs-greensboro

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Sunday, November 27, 2011

Crowds hit stores for "Black Friday" deals (Reuters)

(Reuters) ? Bargain hunters flocked to stores late Thursday and overnight Friday, searching for deals on big screen televisions, video games and toys while fretting about their own shaky economic well-being.

Some stores, looking to grab as big a piece as possible of what is expected to be a middling holiday shopping season pushed post-Thanksgiving openings into Thursday evening or opened at midnight for the first time in years, getting a jump start on "Black Friday," the traditional beginning to the U.S. holiday shopping season.

The strategy appeared to be working, judging from the 300 people who were lined up at a Toys R Us store on Long Island, New York before it opened at 9 p.m. on Thursday, while shoppers and employees at other stores said the crowds were bigger than in the past.

Shoppers were looking for bargains, but customers like James McBreaty were just what retailers wanted -- those who will also buy things beyond the "doorbuster" deals that retailers offer to entice customers.

"We came for the deals but we were just discussing if we will buy things that aren't discounted," McBreaty, 32, a paralegal who was waiting with his wife Nicole, said. "Most likely the entire store isn't discounted but we're here so we'll probably buy some crap anyway."

The National Retail Federation expects 152 million people to hit stores this weekend, up 10.1 percent from last year.

In reality, the shopping period has been underway for some time as retailers such as Wal-Mart Stores Inc and Toys R Us started early by offering layaway programs.

Retailers from Amazon.com to Wal-Mart were also offering online deals as Thanksgiving has become one of the biggest online shopping days of the year.

Retail executives and analysts are predicting a more competitive season than 2010. Unemployment still remains at 9 percent, European debt woes are weighing on the stock market and consumer confidence remains spotty.

NRF, an industry trade group, forecast a 2.8 percent increase in sales for the November-December holiday season, down from the 5.2 percent increase in 2010.

Some shoppers even feel as though the recession has returned, even if it has not shown up in economic data.

"This year, we are going to do shopping but I don't think it is going to be as much shopping as we usually do. Because of the recession, we are not going to shop as much," Desiree Schoolfield, 49, a public service profession from Queens who was shopping at the Toys R Us in Times Square, said.

REALLY EARLY START

Nelson Sepulveda, a building superintendent from Manhattan, was the first person in line at the Best Buy in Union Square, having queued up at 8 p.m. on Wednesday -- 28 hours before the store opened -- to get the $200 Sharp 42-inch LCD television, Play Station 3 games and other items he wanted.

NRF expects 152 million people to hit stores this weekend, up 10.1 percent from last year.

Wal-Mart, Old Navy, which is part of Gap Inc, and KMart, owned by Sears Holdings', were among the few retailers open on Thanksgiving.

Wal-Mart began offering Black Friday deals at 10 p.m. on Thursday.

To narrow the gap in store hours with rivals, discounter Target Corp, electronics chain Best Buy and department store chains Macy's Inc and Kohl's Corp will open at midnight - their earliest starts ever.

About 1,000 people were waiting in line at the opening of the Target in Farmingdale,

Those midnight openings drew online petition protests from store workers, and some shoppers also did not like the early openings.

"Tonight all the stores decided to open at midnight which is difficult when you're trying to enjoy dinner with your family," said Louis Clapper, 24, as he shopped at the Walmart in Farmingdale, New York. "Normally I leave the house at midnight, or 3-4 a.m. for a 5 a.m. opening. The stores are opening earlier and earlier."

For others, staying up late beat waking up for a 4 a.m. or 5 a.m. opening.

"Nobody really has to be out so early to come into the store. I really feel like that's better," Tosha Smith, 21, hotel attendant, lives in Queens, said while shopping at Macy's.

At Macy's in Herald Square, four Occupy Wall Street activists chanted "boycott Macy's" and "stop supporting big corporations" even as about 9,000 people lined up to shop at the store.

Others retailers, including J.C. Penney Co Inc, are opening early Friday morning as they did last year.

Wal-Mart started its Black Friday "doorbuster" deals on Thursday at 10 p.m. at its stores. Amazon.com Inc, not to be outdone, will offer its deals online at 9 p.m.

The knock-down-drag-out fight comes as the rebound in sales cooled in October, when many top chains like Macy's and Saks reported disappointing sales.

It will be even tougher for chains that have struggled with sales declines lately, like Gap and Penney.

Last year, after a strong Black Friday weekend, shoppers sat on their hands until closer to Christmas.

(Writing by Brad Dorfman in Milwaukee. Reporting by Dhanya Skariachan, Liana B. Baker and Phil Wahba in New York; Editing by Jon Loades-Carter)

Source: http://us.rd.yahoo.com/dailynews/rss/videogames/*http%3A//news.yahoo.com/s/nm/20111125/bs_nm/us_usa_retail_thanksgiving

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On eve of Egypt's election, a revolution reboot

An Egyptian protester looks through a concrete block barricade erected by the army to block the street between Tahrir Square and the Interior Ministry in Cairo, Egypt, Saturday, Nov. 26, 2011. The graffiti on the wall, in Arabic, reads: reads in Arabic: "freedom is coming!" An Egyptian demonstrator was killed early Saturday outside the country's Cabinet building, where protesters have camped overnight to prevent the entrance of the country's newly-appointed prime minister, witnesses and a medical official said. The death came as a wave of protests against military rule was given extra impetus by the Egyptian military's decision on Friday to appoint a prime minister who served under deposed President Hosni Mubarak.(AP Photo/Bela Szandelszky)

An Egyptian protester looks through a concrete block barricade erected by the army to block the street between Tahrir Square and the Interior Ministry in Cairo, Egypt, Saturday, Nov. 26, 2011. The graffiti on the wall, in Arabic, reads: reads in Arabic: "freedom is coming!" An Egyptian demonstrator was killed early Saturday outside the country's Cabinet building, where protesters have camped overnight to prevent the entrance of the country's newly-appointed prime minister, witnesses and a medical official said. The death came as a wave of protests against military rule was given extra impetus by the Egyptian military's decision on Friday to appoint a prime minister who served under deposed President Hosni Mubarak.(AP Photo/Bela Szandelszky)

Egyptian women protest in Tahrir Square in Cairo, Egypt, Saturday, Nov. 26, 2011. The election begins Monday Nov. 28, and are staggered over multiple stages that conclude in March. The military said it would extend the voting period to two days for each round in an apparent effort to boost turnout due to the current unrest. (AP Photo/Tara Todras-Whitehill)

An Egyptian protester, with his face painted with national colors, talks on his phone in Tahrir Square in Cairo, Egypt, Saturday, Nov. 26, 2011. Egyptian security forces clashed with protesters camped outside the Cabinet building Saturday, leaving one man dead, as tensions rose two days ahead of parliamentary elections being held despite mass demonstrations against military rule. The violence occurred as a wave of protests against military rule was given extra impetus by the Egyptian military's decision on Friday to appoint a Prime Minister Kamal el-Ganzouri who served under deposed President Hosni Mubarak. (AP Photo/Bela Szandelszky)

The sculpture of a lion on the Qasr el-Nil bridge wears an eye patch symbolizing protesters wounded in clashes with security forces, near Tahrir Square in Cairo, Egypt, Saturday, Nov. 26, 2011. Egyptian medical officials say that one demonstrator has been killed outside the country's Cabinet building, where protesters have camped overnight to prevent the entrance of the country's newly-appointed prime minister.(AP Photo/Bernat Armangue)

Egyptian protesters hold a large national flag with Arabic writing that reads, "Jan. 25 revolution, Egypt," in Tahrir Square in Cairo, Egypt, Friday, Nov. 25, 2011. Tens of thousands of protesters chanting, "Leave, leave!" filled Cairo's Tahrir Square in a massive demonstration to force Egypt's ruling military council to yield power. The Friday rally is dubbed by organizers as "The Last Chance Million-Man Protest," and comes one day after the military offered an apology for the killing of nearly 40 protesters in clashes on side streets near Tahrir over the last week. (AP Photo/Bernat Armangue)

(AP) ? In the southern province of Qena ? one of Egypt's poorest ? Mostafa el-Shatbi is running for parliament with one of the new crop of post-revolution political parties in the city of Nag Hammadi.

"I am not expecting to win," the 57-year-old veteran labor activist said, sitting in a cafe overlooking the Nile River in the agricultural and industrial city. This election is a "rehearsal" for future ones.

El-Shatbi, running on the Adl Party ticket, said he can't break the hold of former members of Hosni Mubarak's ousted ruling party in the race, who belong to powerful local families and are backed by networks of tribal and blood ties built up over years of buying loyalties.

The Nag Hammadi contest exemplifies a key reason why many of the liberal and leftist youth groups behind the revolution that ousted Hosni Mubarak on Feb. 11 shunned the campaign leading up to landmark parliamentary elections due to start Monday. Many felt it will just recreate a Mubarak-style legislature.

"They don't know much about the basics of politics here," Mohammed el-Sheini, a former ruling party member who is one of the front-runner candidates in Nag Hammadi, said dismissively of the young new political crop.

El-Sheini is the 31-year-old scion of a landowning family that has held a seat in parliament for at least three generations.

Dressed in slick beige pants and a shirt, he held court recently at his mansion, meeting with influential locals, dressed in traditional jalabiya robes, sitting on dried-mud benches and sipping from a continual flow of dark tea. His older brother, a former police officer, is also running as a candidate and threatened to bring out backers to shut down roads in the south and block voting if the revolutionaries got their way and former regime candidates were barred from running.

"If we lose the seat, then we gained nothing from this revolution," el-Sheini said.

For months, however, the alternative to the election has not been clear ? either to the revolutionary activists or the Egyptian public, whose support for revolutionaries frittered away.

The explosive return to protests over the past week in Cairo's Tahrir Square and other cities has brought some clarity. The new uprising is an opportunity for Egypt's revolutionaries to repair nine months of mistakes and reboot the country's transition to democracy on their terms, not those of the military that took power after Mubarak's ouster.

The youth groups who led the uprising against Mubarak admit they failed to capitalize on the people power they mobilized. They have been divided, snarled in debates and infighting, unable to rally behind a platform or strategy. The distrust of authority that drove them also meant they ostracized anyone who emerged as a leader or engaged in the political process as tainted, too willing to compromise for power.

Some dove into election campaigning, forming new parties. But they have struggled to present a cohesive message, squabbling over personalities and ideologies. As a result, the Muslim Brotherhood and other Islamists are posed to win a plurality ? even a majority ? in the next parliament.

Other activists refused and instead took a long-term strategy. They formed advocacy groups concentrating on convincing the public their revolution was unfinished and that the ruling Supreme Council of the Armed Forces ? the council of generals who are all holdovers from the Mubarak era ? was only preserving the autocratic ways of his nearly 30-year rule.

They now say the crowds in Tahrir, more than 100,000 on Friday, vindicate their vision, showing they have tapped into a vein of anti-military feeling that can overturn the rules of the game.

"This has been a period of revenge (against the revolution) not a period of transition," said Girgis Mahrous, a 29-year-old Tahrir protester. "It was a dirty game by the council. It divided the parties, punished the activists, and let security unravel to scare the majority away from the revolution."

Now the activists are trying to unify on a central demand ? that the military surrender power to an interim national salvation government led by Nobel Peace laureate and liberal leader Mohamed ElBaradei with four deputies from parts of the political spectrum, which would form a new unity government.

Putting forward names risks alienating many Egyptians who view ElBaradei with suspicion. Also the proposal does not include names from the far left or some Islamist groups. A large sector of the population of more than 80 million still supports the military's vision for elections.

But it also would be a concrete alternative to try to rally the public around. If it gains support, it could effectively render elections irrelevant.

The path back to Tahrir, epicenter of the anti-Mubarak uprising, was a wandering and confused one.

The revolution launched Jan. 25 was begun by a core of urban activists, joined later by the Muslim Brotherhood, the fundamentalist group that is Egypt's most organized political force. Together, they rallied millions from the general public against Mubarak.

Cracks opened even before Mubarak stepped down. During the 18 days of protests, some activists sought to draw up a list of demands on what would come after the president's ouster. When they polled the factions in Tahrir, however, hopes for a united vision were dashed.

After Mubarak's fall, the broader public went home, euphoric and largely welcoming the rule of the military, which promised to carry out the demands of the revolution.

A decisive moment came with a March referendum organized by the military.

The vote was on a military-drafted timetable for parliamentary elections. The Muslim Brotherhood and other Islamists backed a "yes" vote, eager for an election they expect to win. Most liberals and leftists opposed it, arguing it was too soon for elections and a constitution should be written first.

But they misjudged the street. Egyptians saw a "yes" vote as bringing stability and calm. The left was unable to present a clear alternative. The measure passed in a three-quarters landslide.

Since then, the generals and Islamists have claimed the referendum as a popular mandate for the military's rule and transition plan.

The coalition of youth groups and Islamists was shattered, and the youth groups themselves where thrown into confusion.

An attempt by revolutionaries to organize into a National Council briefly gained traction. Then it collapsed when some well-known politicians tried to impose themselves as leaders. It struck activists as the same disease as the Mubarak era ? self-aggrandizing figures who end up propagating the same system.

"No one wanted anyone else to become leader. There was a feeling that no one wanted anyone to be better than them or boss them around anymore," said Sahar Abdel-Mohsen, a 31-year architect in Tahrir for Friday's protest.

She rejected the political parties as yet another competition between personalities.

"It was like a marriage I didn't want to get trapped into... I realized that the 30 years of Mubarak repression brought out the worst in us," she said.

Meanwhile, activist anger against the military grew. The generals put 12,000 civilians, including protesters, on military trial, and reports of torture emerged. The ruling council did next to nothing to dismantle Mubarak's regime or reform the security forces whose use of torture, bribery and oppression were central to Mubarak's police state.

But the connection to the public had been broken. A broad segment of Egyptians has been yearning for a return to stability amid a crashing economy, rising street crime and endless strikes. In the eyes of some, the protesters have seemed like nothing but troublemakers.

In one of the last major Tahrir protests before the current events, in July, activists and political parties fought over goals, leaders, and publicity for their groups in the square. The sit-in was violently broken up, and popular support for it was close to nil.

Meanwhile, those in the liberal, leftist, secular bloc who did join parties scrambled for a vote in which the Muslim Brotherhood was already far ahead, with a countrywide network and an experienced campaign machine. But efforts at coalitions between the flurry of new parties that arose crumbled.

Mustafa el-Naggar ? founder of the Adl, or "Justice," Party, one of the most active and well-financed of the new parties ? defends the decision to engage in the campaign.

"Some see political party work now as a betrayal of the revolution," he said in an interview before the current eruption of protests. "When they criticize me, they say Mustafa is a reformist who gave up on the revolution and is seeking a slice of the cake."

Founded by upper middle-class professionals from the anti-Mubarak protests, the Adl Party has avoided the "liberal" label, which sounds elitist and anti-religion to the public. Instead, it tries to appeal to a broader part of the public by touting a "middle way" of liberal Islam and liberal economic policies, combined with a youthful face.

With 200 candidates nationwide ? mostly young people and unknowns ? the party hopes to win around 20 seats to get into parliament. But the party, he says, can be a vehicle for building public support for the revolution's platform.

The party may not win now, but "we want to build a party that rules Egypt in 10 years."

But new parties have scrambled to find candidates. Some even turned to former members of Mubarak's ruling party popular in their district to boost their chances ? at the cost of a real ideology of change, those who reject the campaign say.

The election will only recreate the "failed, weak and corrupt elite" of the Mubarak era, equally reliant on authoritarian power, said Ramy Shaath, a youth leader.

"Is this the kind of ruling elite that we want to depend on for the future?" he said. "Those in political life the past 30 years have become impotent and are incapable of dreaming that Egypt can be free."

Instead, activists addressed the street. They avoided the debate over Islam versus secularism that has characterized much of the election campaign, opting to rally people against the military by hitting issues that unite much of the population ? anger that the military was not touching Mubarak's regime and seemed to be moving to keep power and sympathy over people killed in protests.

One group, the Revolutionary Socialists, galvanized workers, setting up 150 independent labor unions to replace official labor unions that were long just tools for maintaining Mubarak's rule. Neighborhood revolutionary committees organized volunteer services for residents.

The alliance of 24 groups to which Shaath belongs has worked in neighborhoods to bring democracy ideals to the street, with public forums, videos and exhibits retelling the story of the revolution, legal aid clinics and popular surveys on issues political parties have failed to address.

Social media like Twitter and Facebook continued to play a role in organizing like-minded people and providing a "democratic model" where open discussions take place, and details of injustice were highlighted for recruitment, said Rasha Abdulla, a communication professor at the American University in Cairo.

The goal is to create "a real power base, which one day can get to the top of running this country's affairs," Shaath said.

"It will take time but this is the newly born political system in Egypt."

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/cae69a7523db45408eeb2b3a98c0c9c5/Article_2011-11-26-ML-Egypt-Rebooting-Revolution/id-530f38fa17aa4093b08f6a29dcf5c16b

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Saturday, November 26, 2011

Imperial, Ottawa in talks over Arctic pipeline (Reuters)

CALGARY, Alberta (Reuters) ? Imperial Oil Ltd and Ottawa have resumed talks over a financial support package for the Mackenzie gas pipeline in the Far North, but the company would not say on Friday if it was any closer to proceeding with the C$16.2 billion (US$15.4 billion) project.

Discussions aimed at making the long-delayed development economically viable restarted some time in the second-half of this year after the two sides took a "hiatus" before the last federal election in May, Imperial spokesman Pius Rolheiser said. He declined to offer details.

"I'm not going to go any further in terms of what may or may not be under discussion except to say that we continue to be in discussion," Rolheiser said.

The pipeline, which would carry up to 1.2 billion cubic feet of natural gas to southern markets from the Mackenzie Delta on the Beaufort Sea coast, is several years behind schedule.

It won regulatory approval nearly a year ago, but is pressured by high construction costs and questionable returns due to weak gas markets as the industry develops cheap shale reserves across the continent.

Imperial and its partners have sought a multibillion-dollar support package to improve the economics. It would include public funding for roads, airstrips and other infrastructure in the sparsely populated and largely undeveloped Northwest Territories.

The territory's premier and one of the project's biggest champions, Bob McLeod, told Reuters on Friday that he understood there were positive moves on that front. Communities across the region have been hoping for years that the project would proceed so they could win economic benefits.

"The updates that we've been getting are that there is activity in the area," he said. "I don't know the details, but from what I hear it's very promising."

McLeod said the next few months were crucial to the eventual success of the project, which was first envisioned in the 1970s and has been started and stopped several times.

Under the approval, Imperial and its partners have until the end of 2013 to make a go-ahead decision.

But before that, the company must be convinced it has secured a fiscal package that would allow it to restaff the project and resume detailed studies and engineering, Rolheiser said. Such work was suspended in 2007.

The most recent start-up estimate for the pipeline is 2018, although some partners have said any further delay would push that back again.

Mackenzie's last setback was in July when Royal Dutch Shell Plc put its share of the development on the auction block. It has yet to announce a deal.

The other partners are ConocoPhillips, Exxon Mobil Corp and native-owned Aboriginal Pipeline Group.

($1=$1.05 Canadian)

Source: http://us.rd.yahoo.com/dailynews/rss/energy/*http%3A//news.yahoo.com/s/nm/20111125/wl_canada_nm/canada_us_arctic_naturalgas

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[OOC] 4 Ways

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Friday, November 25, 2011

Bush tax cut debate dooms deal to cut deficit (AP)

WASHINGTON ? A long-running war between Democrats and Republicans over Bush-era tax cuts doomed the debt supercommittee's chances of reaching a deal. Efforts to overhaul the tax code may await the same fate as both parties gear up to make taxes a central issue in the 2012 elections.

Republicans insisted during the supercommittee negotiations that curbing tax breaks to raise revenues be coupled with guarantees that all the Bush tax cuts would continue beyond 2012. The tax cuts, which affect families at every income level, were enacted under President George W. Bush and were extended through 2012 under President Barack Obama.

Republicans for years have bashed Democrats as eager to raise taxes ? a theme they will employ often in next year's elections ? so they weren't about to agree to a tax hike unless they also could take credit for preventing a huge tax increase scheduled to take effect in 2013.

Democrats countered that the supercommittee was created to reduce the budget deficit, not add to it by extending tax cuts. Most Democrats, including Obama, want to extend the Bush tax cuts only to individuals making less than $200,000 a year and married couples making less than $250,000.

"We simply could not overcome the Republican insistence on making tax cuts for the wealthiest Americans permanent," said Sen. John Kerry, D-Mass., a member of the supercommittee. "This was simply doctrine for some of our Republican colleagues, even as many worked very hard in good faith to find a better way forward."

Another member of the supercommittee, Rep. Dave Camp, R-Mich., said, "It is deeply regrettable that my Democrat colleagues could not see their way to addressing these much-needed reforms without at least $1 trillion in job-killing tax increases on families and employers."

Extending all the Bush tax cuts, including provisions to spare millions of middle-class families from paying the alternative minimum tax, would add $3.9 trillion to the budget deficit over the next decade, according to projections by the nonpartisan Congressional Budget Office. The Democratic plan would add about $3.1 trillion to the deficit over the same period and make the wealthiest Americans pay about $800 billion more in taxes.

The supercommittee was formed to come up with a package that reduces government borrowing by at least $1.2 trillion over the next decade. But with a Wednesday deadline approaching, the committee's co-chairs conceded failure Monday.

Democrats had said they would accept significant cuts to benefit programs like Medicare and Medicaid, but only if Republicans would agree to tax increases. Despite Republicans' aversion to tax increases, a growing number of GOP lawmakers said they would consider higher taxes if they were coupled with significant spending cuts.

Other Republicans wanted even more political cover: a guarantee that all the Bush tax cuts would be made permanent.

"It's not easy during this hard economic time to go back and justify any kind of tax increase," Rep. Wally Herger of California, a senior Republican on the tax-writing House Ways and Means Committee, said while talks were still ongoing. "But I think if it's going to be justified, this is the one exception that maybe you could use to justify it."

At one point, supercommittee member Sen. Pat Toomey, R-Pa., proposed a tax overhaul package that Republicans said would raise about $290 billion in additional revenue over the next decade but lock in all of the Bush tax cuts.

Democrats, however, never seriously considered an agreement to continue the Bush tax cuts for high earners. Agreeing to extend them would make it harder for Democrats to accuse Republicans of supporting policies that favor the wealthy, a staple of Democratic political campaigns.

"If anybody in our party votes for that, they will have a real problem for themselves in the next election," said Rep. Jim McDermott of Washington, a senior Democrat on the Ways and Means Committee.

The debate has played out even as lawmakers, presidential candidates and interest groups from across the political spectrum have called on Congress to simplify the tax code. The two tax-writing committees in Congress, the Ways and Means Committee in the House and the Finance Committee in the Senate, have held numerous hearings on tax reform. Their respective chairmen, Camp and Sen. Max Baucus, D-Mont., both served on the supercommittee.

But tax reform won't happen until Congress resolves the dispute over the Bush tax cuts, said Howard Gleckman, a fellow at the Urban Institute and editor of the blog TaxVox.

"You can't do tax reform unless you agree in advance how much revenue you want to raise," Gleckman said. "The problem is, there is simply no consensus at all on what the revenue goal is."

Tax reform is already a hot topic among Republican presidential hopefuls. Businessman Herman Cain has gotten a lot of attention for his 9-9-9 plan, which would impose a 9 percent national sales tax, a 9 percent income tax and a 9 percent business tax.

The election could go a long way toward deciding the fate of tax reform, unless it results in more divided government, said Clint Stretch, a tax expert at Deloitte Tax LLP.

"The problem is, the 2012 election might not solve the issue," Stretch said.

Until then, don't look for any movement on the issue, said Dean Zerbe, former tax counsel to the Senate Finance Committee and now national managing director of Alliantgroup, a tax consulting firm.

"'For this Congress, you might as well send the lilies for tax reform," Zerbe said. "We will not do anything significant on taxes until after the election, and even after that it may take a while."

__

Online:

TaxVox blog: http://taxvox.taxpolicycenter.org/

Source: http://us.rd.yahoo.com/dailynews/rss/topstories/*http%3A//news.yahoo.com/s/ap/20111122/ap_on_go_co/us_supercommittee_bush_tax_cuts

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Thursday, November 24, 2011

Plea deal in California gay classmate killing (AP)

LOS ANGELES ? A Southern California teenager pleaded guilty Monday to second-degree murder for killing a gay student during a computer lab class three years ago that will send him to prison for 21 years and avoid a retrial, authorities said.

Brandon McInerney, 17, pleaded guilty to the murder charge, as well as one count each of voluntary manslaughter and use of a firearm, said Ventura County Chief Deputy District Attorney Mike Frawley. McInerney is scheduled to be sentenced Dec. 19.

The case drew wide attention because of its shocking premise: McInerney, in a fit of homophobic rage, killed 15-year-old Larry King at E.O. Green Junior High School in Oxnard because he was offended by King's dress and how the victim interacted with him.

Comic Ellen DeGeneres, a lesbian, weighed in on her talk show shortly after the shooting and said gays shouldn't be treated as second-class citizens.

McInerney was only 14 at the time of the February 2008 shooting. Several jurors said after the teen's trial earlier this year that he should never have been tried as an adult.

A mistrial was declared in September when jurors couldn't reach a unanimous decision on the degree of guilt. The panel took a series of votes, the last one with seven jurors in favor of voluntary manslaughter and five supporting either first-degree or second-degree murder. The trial had been moved from Ventura County to Los Angeles because of pretrial publicity.

Frawley said prosecutors agreed to the plea deal because of uncertainty about what might result from a second trial.

"We took that into account and looked at what it would take to protect the community," Frawley said. "The total time in custody for 25 years will do that."

The murder conviction will be stayed, and the plea deal calls for McInerney to be given the harshest sentence under California law for voluntary manslaughter ? 11 years_ and use of a firearm ? 10 years, Frawley said. McInerney is ineligible for time served or good behavior because he pleaded guilty to murder.

After serving nearly four years since King's slaying, McInerney will be released just shy of his 39th birthday. Prosecutors had previously offered a plea deal that would have sent McInerney to prison for 25 years to life, but his attorneys passed

A phone message left with defense attorney Robyn Bramson was not immediately returned.

King was shot twice in the back of the head in front of stunned classmates. Authorities maintained the shooting was premeditated and deserving of a murder conviction. During the trial, prosecutors noted at least six people heard McInerney make threats against King in the days before the shooting.

Prosecutors also contended McInerney embraced a white supremacist philosophy that sees homosexuality as an abomination. Police found Nazi-inspired drawings and artifacts at his house, and a white supremacist expert testified at trial the hate-filled ideology was the reason for the killing.

Prosecutors, however, dropped a hate crime count against McInerney in preparing for a second trial.

Defense attorneys acknowledged McInerney was the shooter but explained he had reached an emotional breaking point after King made repeated, unwanted sexual advances. They also argued their client came from a violent upbringing and juvenile court would have been the best venue to try him.

Source: http://us.rd.yahoo.com/dailynews/rss/crime/*http%3A//news.yahoo.com/s/ap/20111122/ap_on_re_us/us_gay_student_killed

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Fed announces third round of bank stress tests (AP)

WASHINGTON ? The Federal Reserve announced on Tuesday that it would conduct a third round of stress tests to determine if major U.S. banks can withstand a downturn in the economy.

The latest round of tests comes at a time when many are concerned about U.S. banks' exposure to the European debt crisis, which could throw that region into a recession and rattle global financial markets.

Vice Chairman Janet Yellen last week said the Fed would purse the stress tests in coming weeks.

The Fed performed the first stress tests in the spring of 2009. The country's 19 largest banks participated. The initial stress test reassured investors that America's biggest banks had the resources to get through the recession and the 2008 financial crisis.

For the latest test, the field has been expanded to 31 banks. The financial regulatory overhaul passed last year requires banks with at least $50 billion in assets take part.

Banks have until Jan. 9 to submit the information to the Fed. They must show they have enough capital reserves to withstand projected loan losses from an economic downturn.

The central bank will review the information and then make determinations on whether the banks passed the tests. Fed officials said no time frame has been set for when it will announce the results.

Source: http://us.rd.yahoo.com/dailynews/rss/economy/*http%3A//news.yahoo.com/s/ap/20111122/ap_on_bi_ge/us_fed_stress_tests

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Wednesday, November 23, 2011

Pakistan's envoy to U.S. quits over coup memo (Reuters)

ISLAMABAD (Reuters) ? Pakistan's ambassador to the United States resigned on Tuesday, days after a Pakistani-American businessman said the envoy was behind a memo that accused the Pakistani military of plotting a coup in May.

Envoy Husain Haqqani said in a Twitter message that he had sent his resignation to the prime minister. State television said his resignation had been accepted.

"I have resigned to bring closure to this meaningless controversy threatening our fledgling democracy," he said in a statement released after his resignation.

"I have served Pakistan and Pakistani democracy to the best of my ability and will continue to do so."

Businessman Mansoor Ijaz, writing in a column in the Financial Times on Oct. 10, said a senior Pakistani diplomat had asked that a memo be delivered to the Pentagon with a plea for U.S. help to stave off a military coup in the days after the May 2 U.S. raid that killed al Qaeda leader Osama bin Laden.

Ijaz later identified the diplomat as Haqqani.

No evidence has emerged that the military was plotting a coup and the Pentagon at the time dismissed the memo as not credible. Haqqani denies involvement in the memo. (http://r.reuters.com/wes25s)

"I still maintain that I did not conceive, write or distribute the memo," Haqqani told Reuters shortly after he resigned. "This is not about the memo," he continued. "This is about bigger things."

He declined to comment further.

Haqqani's resignation followed a meeting with Pakistan President Asif Zardari, the nation's powerful army chief General Ashfaq Kayani and its intelligence head, Lieutenant-General Ahmad Shuja Pasha.

A spokesman for the prime minister's office said Haqqani was asked to resign and there would be an investigation into the memo.

Haqqani is a former journalist who covered Afghanistan's civil war and later wrote a book on the role of radical Islam and the military in Pakistan.

With his crisp suits and colorful turns of phrase, he has developed close ties with Washington's top power brokers as Pakistan's envoy since 2008.

In the past year, he has sought to ease tempers in both capitals and find common ground during an extraordinarily tense period in U.S.-Pakistani relations that included the bin Laden raid, the jailing of a CIA contractor, and U.S. accusations that Pakistan backed a militant attack on the U.S. Embassy in Kabul.

He is close to Zardari but estranged from Pakistan's military.

Tensions between Pakistan's civilian government and military have bedeviled the nuclear-armed South Asian country for almost its entire existence, with the military ruling the country for more than half of its 64-year history after a series of coups.

Haqqani's resignation was seen by many analysts as further weakening the civilian government, which is already beset by allegations of corruption and incompetence.

"They (the military) may expect much more from the government, much more beyond the resignation of Husain Haqqani, because they see that everybody perceived to be involved in this affair will be seen as anti-military and by implication anti-state," said Imtiaz Gul, a security analyst in Islamabad.

IMPACT ON U.S.-PAKISTAN TIES?

Haqqani's successor might include a diplomat with a less complicated relationship with the military, perhaps Pakistani Foreign Secretary Salman Bashir or Pakistan's envoy to the United Nations, Hussain Haroon.

"Whether Pakistan's people or its military will be represented in DC will become evident when Husain Haqqani's replacement is announced," Ali Dayan Hasan, representative for Human Rights Watch in Pakistan, said on Twitter.

Vali Nasr, a former senior State Department official who worked on Pakistan, said the crux of the affair was not Haqqani's role but whether Zardari would come to be seen as having directed the memo, which would imply the president had gone outside Pakistan to request urgent assistance against his own military.

"At what point would the issue escalate to Haqqani was acting on Zardari's behest? That would really create massive tension between the military and Zardari."

Nasr said the issue would be unlikely to have a major impact on the strained U.S.-Pakistan relationship unless it seriously weakened or toppled the civilian government.

As U.S. officials focus on thorny diplomatic and security issues with Pakistan, Haqqani's departure did not immediately make many visible ripples in Washington. The State Department said it had not been notified of Haqqani's departure and the Pentagon declined comment.

Democratic Senator John Kerry, who has been heavily involved in U.S.-Pakistani relations, said he was sorry to learn of Haqqani's resignation.

Kerry said he respected the Pakistani government's decision but that Haqqani would be missed "as we continue to work through the ups and downs of our relationship."

Ijaz said initially he believed Haqqani was acting under the authority of Zardari, but said later he was not sure how involved Zardari was in the affair.

Mark Siegel, a lobbyist who represents the Pakistani government in Washington, said Zardari called him when the Financial Times story appeared, asking his law firm to initiate libel proceedings against the newspaper and Ijaz.

Siegel advised Zardari against filing a case because he judged it difficult for a public figure to win a libel case in a U.S. court.

"He was irate and said the memo was a total fabrication," Siegel said. Siegel, who has known Zardari for 25 years, said he was absolutely certain that Zardari had known nothing about the memo.

(Additional reporting by Zeeshan Haider, Qasim Nauman and Augustine Anthony in Islamabad and Missy Ryan in Washington; Editing by Peter Graff, Jon Hemming and Peter Cooney)

Source: http://us.rd.yahoo.com/dailynews/rss/india/*http%3A//news.yahoo.com/s/nm/20111123/india_nm/india606685

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Tuesday, November 22, 2011

Tour operator Thomas Cook in financial trouble (AP)

LONDON ? Fears rose over the survival of venerable British tour operator Thomas Cook after financial problems worsened Tuesday for the company that took more than 22 million people on holiday in the latest year.

Shares in Europe's second-largest tour operator sunk 75 percent of their already depressed value after Thomas Cook said it was seeking new agreements with its main creditors. That announcement came barely a month after the company said it had negotiated new funding arrangements to carry it through the slow winter months.

The company insisted that flights would leave as usual and that it was taking new bookings, but Britons who bought vacations through the firm were worried.

"(I'm) praying it's going to be all right ... but I'm not confident," said Jamila Juma-Ware, 27, who had booked a holiday in Tenerife in the next three weeks for herself and her mother.

Several small British travel firms have gone under since the global economic crisis hit in 2008, but Thomas Cook is an industry giant and a fixture of Britain's main streets.

"There are a lot of small independent travel agents around here, but I said I'd rather just book it through someone like Thomas Cook because they're big and there's more of a guarantee they won't go bust," Juma-Ware said. "And then this week this happens. "

Thomas Cook is, like many airlines and tour operators, suffering from weak consumer demand as Europe's financial crisis has people worried about their jobs.

Unrest in Tunisia ? normally the top winter destination for French travelers ? and Egypt, flooding in Bangkok and disappointing sales in Russia have all added to the pressure on the company.

Analysts said the financial troubles could scare away customers, darkening the firm's prospects even more.

"Legitimate questions will be asked as to whether Thomas Cook can survive long-term," said James Hollins, analyst at Evolution Securities. He added that he believed the company could pull through on the strength of businesses outside Britain, but "a more flexible financial structure and massive turnaround are required."

Thomas Cook Group PLC shares closed down 75 percent in London trading.

Thomas Cook was due to report annual earnings for 2010-11 on Thursday, but it has put that off indefinitely "as a result of deterioration of trading in some areas of the business, and of its cash and liquidity position since its year end."

Sam Weihagen, Thomas Cook's interim chief executive, insisted it was business as usual: "Flights are leaving on schedule, shops are open and we're taking bookings."

Weihagen said people who booked package holidays with the firm would be protected by the Air Travel Organizers' Licensing insurance program, which is funded by contributions from travel companies. However, those who book only flights are advised to buy their own travel insurance.

Thomas Cook has previously announced plans to reduce its fleet of 41 aircraft to 35, and it hopes to raise 200 million pounds ($312 million) by selling assets including its stake in Britain's part-privatized air traffic control service.

Wyn Ellis, analyst at Numis Securities, said Thomas Cook's announcement could frighten new customers and alarm suppliers. The company, he said, "faces a difficult near-term future which could lead to significant loss of market share."

The news upset some prospective travelers near its shop in London's St. James neighborhood.

Tony Wright, 64, said he's had "nothing but good experiences" with the company and would not hesitate to use Thomas Cook again.

"We were devastated to hear the news this morning and we hope its not as bad as it sounds," he said.

Others were disappointed that the company's airfares had not dropped. Simon Ash visited the branch on Tuesday, hoping that the company's financial woes and a lack of tourist interest in Egypt because of unrest could help him find a cheap ticket to Cairo. He came away empty-handed.

"The prices they're giving me are not as good as the ones I'm finding on the Internet," he said.

Nadejda Popova, a tourism industry analyst at Euromonitor, said Thomas Cook's "great brand" identity could help it survive, especially because package holidays remain popular with travelers.

"We talk about the death of the package holiday, but we haven't completely seen (it)," she said. In uncertain times people "want the protection that comes with a package holiday."

The company takes its name from the cabinetmaker Thomas Cook, who had a flash of inspiration while walking to a temperance meeting in 1841 to use the railways to help promote abstinence from alcohol. Cook's first venture was to charter a train that carried about 500 passengers in open coaches on a 12-mile round trip.

"Thus was struck the keynote of my excursions, and the social idea grew up on me," Cook wrote.

He organized more trips for temperance societies and Sunday schools. He took his business a step further in 1845 by arranging a trip to Liverpool.

The International Exhibition in Paris in 1855 inspired Cook to organize a trip to the continent. Ten years later, he was organizing rail tours in North America.

___

Associated Press Writers Jill Lawless and Cassandra Vinograd contributed to this report.

Source: http://us.rd.yahoo.com/dailynews/rss/europe/*http%3A//news.yahoo.com/s/ap/20111122/ap_on_bi_ge/eu_britain_thomas_cook

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Weak spot discovered on deadly ebolavirus

ScienceDaily (Nov. 20, 2011) ? Scientists from The Scripps Research Institute and the US Army's Medical Research Institute of Infectious Diseases have isolated and analyzed an antibody that neutralizes Sudan virus, a major species of ebolavirus and one of the most dangerous human pathogens.

"We suspect that we've found a key spot for neutralizing ebolaviruses," said Scripps Research Associate Professor Erica Ollmann Saphire, who led the study with US Army virologist John M. Dye.

The new findings, which were reported November 20, 2011, in an advance online edition of Nature Structural & Molecular Biology, show the antibody attaches to Sudan virus in a way that links two segments of its coat protein, reducing their freedom of movement and severely hindering the virus's ability to infect cells. The protein-linking strategy appears to be the same as that used by a previously discovered neutralizing antibody against the best-known ebolavirus species, Ebola-Zaire. The new study suggests that this may be the best way for vaccines and antibody-based therapies to stop ebolaviruses.

Deadly Outbreaks

Ebolaviruses first drew the attention of the medical world with simultaneous deadly outbreaks in 1976 in the nations of Sudan and Zaire (currently known as the Democratic Republic of the Congo). These two outbreaks were caused by the two major viruses: Ebola-Sudan and Ebola-Zaire, and early field studies showed that sera from patients that survived one virus could not help patients infected with the other. . Both viruses persist in animal hosts-probably bats-and when they spread to humans, typically cause severe hemorrhagic fevers, killing up to 90 percent of people they sicken. Although not as contagious as influenza or measles, ebolaviruses can be transmitted in bodily fluids including exhaled airborne droplets, and scientists who study these viruses are generally required to use special "Biosafety Level 4" facilities. The US government regards the ebolaviruses as a potential bioterror threat.

Ebolavirus researchers hope to develop a vaccine that could be used to protect health workers and others in the vicinity of ebolavirus outbreaks, as well as an antibody-based immunotherapy that could help infected people survive. However, these tasks are complicated by the fact that there are now five recognized species of ebolavirus: Ebola-Zaire, also known simply as Ebola virus; Ta? Forest virus; Reston virus; Bundibugyo virus; and Sudan virus.

"These species differ enough from each other that neutralizing antibodies to one don't protect against the rest," said Ollmann Saphire. "Sudan virus is a particular concern because it has caused about half of the ebolavirus outbreaks so far, including the largest outbreak yet recorded."

Uncovering the Body's Natural Protection

US government researchers recently demonstrated that an experimental vaccine containing proteins from Ebola and Sudan viruses provides monkeys with some protection against those viruses. But precisely how the vaccine works is unclear, and it has never been tested in humans. Moreover, until now no laboratory has isolated a neutralizing antibody against Sudan virus.

To find such an antibody, Dye and his colleagues at Fort Detrick, Maryland, injected lab mice with a harmless virus engineered to make copies of the Sudan virus coat protein. The coat protein provoked the mice's immune B cells to make various antibodies against it, and the scientists were able to reproduce the mice's repertoire of antibodies by harvesting their B-cells and culturing them in the lab. Testing each type of antibody for its ability to block the infection of cells with Sudan virus, the researchers found one good candidate, antibody 16F6, which not only neutralized Sudan virus in the lab dish but also significantly delayed the deaths of infected mice. They then sent 16F6 to Ollmann Saphire's lab at Scripps Research in California.

"We were very excited about developing this antibody as a potential treatment for Ebola virus," said Dye. "Collaborating with the Ollmann Saphire lab to determine the binding site was the perfect complement to our previous work."

Ollmann Saphire's lab specializes in the use of X-ray crystallography and related techniques to visualize the atomic-scale details of viruses bound by antibodies. These details reveal where on a virus an antibody binds, and if the antibody is one that neutralizes a virus's ability to infect cells, its binding site usually offers important clues to the virus's workings and vulnerabilities.

In the new study, Ollmann Saphire's team found that 16F6 attaches to the Sudan virus in a way that links two segments of the viral coat protein. The virus is known to use one of these segments, GP1, to grab hold of a host cell. When this happens, the cell automatically brings the virus inside, encapsulated within a bubble-like chamber known as an endosome. Normally the cell would destroy the contents of such an endosome, but Sudan virus-like some other viruses-employs its other viral coat-protein segment, GP2, to fuse to the wall of the endosome so that it and the rest of the virus escape into the doomed cell's interior. Antibody 16F6 seems to prevent this fusion process from happening by keeping GP2 bound to GP1.

"The virus is like a wolf in sheep's clothing because its outer part is covered with human sugar molecules, that the antibodies do not see as foreign," said Ollmann Saphire. "The binding site of the 16F6 antibody is one of the few places where viral protein is exposed, and it's exposed because it's a place where GP1 and GP2 need to be free to move." To fuse to the endosomal wall, GP2 must separate from GP1 and uncoil itself. When it is held fast to GP1 by the antibody 16F6, GP2 can't uncoil and perform its function-and so the Sudan virus, instead of escaping into the relatively unprotected interior of the cell, stays within the endosome and is eventually destroyed.

A Strategy Against Ebolaviruses

Ollmann Saphire and her colleagues suspect that 16F6's protein-linking strategy is the best one that antibodies have against ebolaviruses. The antibody's binding site on the Sudan virus coat protein is virtually the same as the binding site of an Ebola-Zaire-neutralizing antibody known as KZ52, which Ollmann Saphire and Scripps Research colleague Professor Dennis Burton found and analyzed three years ago. KZ52 is derived from antibodies made by an African patient who survived an Ebola-Zaire outbreak in 1995, and aside from 16F6 it is the only ebolavirus-neutralizing antibody whose binding site has been determined with X-ray crystallography.

"We think it's not just a coincidence that these two different antibodies, evoked in two different host species by two different ebolaviruses, use the same strategy of linking GP1 and GP2," Ollmann Saphire said.

She and her colleagues now are trying to obtain structural data on several other ebolavirus-neutralizing antibodies, and she suspects that at least one of these also works by linking GP1 to GP2. "There may be other neutralizing sites on ebolaviruses, but so far the only one we've found is this one," she said.

The recognition that ebolavirus-neutralizing antibodies share this protein-linking strategy should guide the further development of vaccines and immunotherapies. "It helps us to understand more precisely what an ebolavirus vaccine or immunotherapy ought to do," Ollmann Saphire said.

The lead authors of the paper, "A shared structural solution for neutralizing ebolaviruses," are Jo?o M. Dias, a research associate in the Ollmann Saphire lab who is now a senior scientist at Heptares Therapeutics in the UK; and Ana I. Kuehne, a researcher in the Dye laboratory at Ft. Detrick. The other authors are Majidat A. Muhammad and Eugene Kang of the Dye lab at Ft. Detrick; Dafna M. Abelson, Shridhar Bale and Marnie L. Fusco of Scripps Research; Anthony C. Wong and Kartik Chandran of the Albert Einstein College of Medicine; Peter Halfmann of the University of Wisconsin at Madison; and Yoshihiro Kawaoka of the University of Tokyo. Funding for the research was provided in part by the U.S. National Institutes of Health and the Defense Threat Reduction Agency.

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Journal Reference:

  1. Jo?o M Dias, Ana I Kuehne, Dafna M Abelson, Shridhar Bale, Anthony C Wong, Peter Halfmann, Majidat A Muhammad, Marnie L Fusco, Samantha E Zak, Eugene Kang, Yoshihiro Kawaoka, Kartik Chandran, John M Dye, Erica Ollmann Saphire. A shared structural solution for neutralizing ebolaviruses. Nature Structural & Molecular Biology, 2011; DOI: 10.1038/nsmb.2150

Note: If no author is given, the source is cited instead.

Disclaimer: This article is not intended to provide medical advice, diagnosis or treatment. Views expressed here do not necessarily reflect those of ScienceDaily or its staff.

Source: http://feeds.sciencedaily.com/~r/sciencedaily/~3/RCiz12jaD1M/111120134703.htm

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Monday, November 21, 2011

Founder sells Milwaukee cafe for $100, promise of food (Reuters)

MILWAUKEE (Reuters) ? For a mere $100, Nell Benton has found herself not just a job, but sole ownership in a restaurant that would seem to be a perfect fit.

It's not often a viable neighborhood restaurant is sold for $100 and Benton said she feels fortunate to be chosen to run the socially conscious cafe on Milwaukee's near south side.

Founder Michael Diedrick chose Benton, 35, an out-of-work chef, to take over the National Cafe and Takeaway, an eclectic establishment and anchor for a neighborhood in transition.

Diedrick, 40, started the cafe three years ago with the goal of bettering the neighborhood and introducing Milwaukee to sustainable concepts typically found in restaurants in larger cities. It was valued at about $50,000.

He received two dozen applications for the restaurant and selected Benton from a dozen he interviewed. Benton, who was unemployed and working on a catering business plan, bought the cafe with a $100 bill earlier this month.

"I definitely had higher offers, but I accepted the one with the most promise," Diedrick said, adding that the sale "got everyone in town talking about the National, and did something we often forget: help someone realize a dream."

Diedrick, who operates a website design studio three doors down from the cafe, said he had opened it as an experiment with the plan to find the right owner, a process that took longer than he thought it would.

As a condition of the sale, Benton has to keep the staff, maintain the cafe name and keep the food the same for two years. She also must feed Diedrick and his wife a meal a day for one year, and remain in the same location for two years while serving sustainable and local food.

For Benton, who also has worked to help refugees, it's a rare opportunity to be part of something larger. The cafe is open from 8 a.m. to 4:30 p.m. and she plans to let it out for evening events by area non-profit groups.

"I wanted to be able to marry the two backgrounds, and the National Cafe is perfect for that," said Benton, who officially takes ownership on December 1.

The daughter of St. Norbert University professors, Benton grew up in the Green Bay area and majored in sociology in college. She started working in cafes at age 14 and eventually earned a culinary degree in Florida.

Benton has traveled the world and studied cooking in Thailand. She also worked in Minneapolis for the American Refugee Committee, an international organization that works with at-risk refugees and displaced persons.

The cafe offers locally grown, organic food. The cafe's suppliers include Growing Power, a Milwaukee-based a nationally recognized urban agriculture farm.

Sustainability is another focus. Restaurant patrons are asked to return compostable leftover containers for recycling in a backyard garden where cucumbers, cilantro, chard and basil grow on raised soil beds over formerly crumbling concrete.

"It's a matter of doing things right to show other restaurants to say, 'hey you can do this, it doesn't cost that much more, and you should,'" Diedrick said.

(Editing by Mary Wisniewski and David Bailey)

Source: http://us.rd.yahoo.com/dailynews/rss/oddlyenough/*http%3A//news.yahoo.com/s/nm/20111121/od_nm/us_wisconsin_cafe

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Sunday, November 20, 2011

Returns on R&D tumble at world's top drugmakers (Reuters)

LONDON (Reuters) ? Investment returns from researching new drugs have fallen nearly 30 percent in the past year at the world's 12 top pharmaceutical companies, highlighting the productivity dilemma facing the sector, according to a report on Monday.

The average internal rate of return (IRR) from research and development dropped to 8.4 percent from 11.8 percent a year ago in the latest study by Deloitte and Thomson Reuters.

The world's top drugmakers face a range of threats from patent expiries to pricing pressure, but the lack of investor confidence in R&D spending is arguably their biggest challenge.

It means little or no value is being ascribed to drug pipelines by stock markets, with the result that shares in large drugmakers are now trading at a discount to sectors such as fast-moving consumer goods.

Julian Remnant, head of Deloitte's European R&D advisory practice, said the decline in R&D returns reflected the very real productivity challenges confronting CEOs -- but he noted it belied some underlying success stories.

Although 10 out of the 12 companies saw a decline in returns in the past year, two-thirds still succeeded in realizing more value from commercialization of late-stage products than was lost from late-stage product failures.

The industry as a whole, however, is barely keeping its head above water, given an estimated weighted average cost of capital of around 7 percent.

"It's still positive but less positive than last year and part of that is due to the fact that the number of late-stage assets has come down around 20 percent," Remnant said in an interview.

"There's some evidence now that the industry is starting to invest more in the quality of the late-stage pipeline by taking a fine-tooth comb to the portfolio and being much more judicious about what gets progressed into Phase III."

High regulatory hurdles and increasingly stringent internal reviews means pipelines are being pruned across the industry, with the average number of compounds in late-stage Phase III development down to 18 from 23 on average per company.

At just $1.05 billion, it now costs more than 25 percent more to develop a new medicine on average compared with last year, with much of the increased cost reflecting the high rate of failures. Yet the commercial value of these assets is no greater than it was in 2010, according to the study.

The study calculated IRRs by estimating the future value of sales from products in final-stage Phase III clinical trials, or those submitted for regulatory approval, using standard industry benchmarks for success rates.

LET'S GET TOGETHER

Remnant believes the tough times facing the industry are likely to stimulate greater collaboration in R&D, as well as an exploration of ways to share capabilities in pre-competitive areas.

Both trends are, in fact, already evident in a series of actual or planned alliances.

The industry as whole is also reining back the total amount of money it throws at R&D, with aggregate expenditure falling for the first time last year by nearly 3 percent to an estimated $68 billion, according to a recent analysis.

Increasing questions from shareholders about the wisdom of spending billions of dollars on the hunt for new drugs is also causing some companies to reveal more in-house data about rates of return.

GlaxoSmithKline has so far gone the furthest by setting itself a clear target to increase returns on R&D to 14 percent from approximately 11 percent at the start of 2011. Others could come under pressure to follow suit.

The companies analyzed in the study were Pfizer, Roche, Novartis, Sanofi, GlaxoSmithKline, Johnson & Johnson, AstraZeneca, Merck & Co, Eli Lilly, Bristol-Myers Squibb, Takeda and Amgen.

(Reporting by Ben Hirschler; Editing by Elaine Hardcastle)

Source: http://us.rd.yahoo.com/dailynews/rss/meds/*http%3A//news.yahoo.com/s/nm/20111121/hl_nm/us_pharmaceuticals_rd

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Not guilty plea entered in Nev. Hells Angel death (AP)

RENO, Nev. ? A judge in a tightly guarded courtroom entered a not guilty plea Thursday on behalf of the 53-year-old California man accused of killing the president of the San Jose chapter of the Hells Angels during a Nevada casino shootout in September.

Washoe District Judge Connie Steinheimer entered the plea for Ernesto Manuel Gonzalez after Gonzalez's public defender advised him to stand silent during his formal arraignment on several charges, including murder.

Police say Gonzalez is a member of the rival Vagos motorcycle gang. He is accused of shooting Jeffrey "Jethro" Pettigrew four times in the back during the Sept. 23 brawl at a Sparks casino.

Authorities took no chances with security at Thursday's hearing, which came after two more members of the rival gangs were shot in separate incidents.

Gonzalez, in handcuffs and shackles, wore a black bullet-proof vest over his red jail jump suit. A half-dozen sheriff's deputies and police SWAT team members were spread around the courtroom, with another half-dozen in the outside hall.

The judge set a Jan. 17 trial date. But she said that might change after public defenders complained they still don't have access to a transcript from the grand jury that indicted Gonzalez and two others Nov. 9.

"Usually we get the information, then try to defend people," chief defender Maizie Pusich told The Associated Press afterward. She said the delay likely was based on security concerns and was not an effort to blunt Gonzalez's defense.

Deputy District Attorney Karl Hall also said the holdup was not a prosecutorial tactic.

"It takes awhile to prepare," he told the AP about the transcript of the grand jury proceedings leading to the indictment that until late Wednesday was sealed. Hall declined to comment further.

The transcript was unsealed after the arrest in California earlier Wednesday of the third of three men facing murder charges in the case ? Gary Stuart Rudnick of Los Angeles. Police identified him as another Vagos member who was involved in the casino fight.

Both Rudnick and Cesar Villagrana, a Hells Angel member accused of shooting two rival Vagos that night, remained jailed in California Thursday. Hall said he expected them to be returned to Reno in the coming weeks to face charges in Pettigrew's death.

Although members of rival gangs, both were charged as co-conspirators in the killing because they were involved in the fight that led to the fatal shooting as part of an effort to promote their gangs' criminal activities, prosecutors said.

A third Vagos member was shot in the stomach the next morning by someone in a passing car a few blocks from the casino. The victim survived, and no suspects have been named.

Hours after that shooting, Sparks' mayor canceled the finale to the 18th annual Street Vibrations motorcycle festival and declared a state of emergency to help speed the arrival of federal agents in anticipation of additional violence.

Another killing followed Oct. 15 at Pettigrew's funeral in San Jose, which was attended by an estimated 4,000 people, but police believe that fatal shooting involved only Hells Angels.

The victim, Steve Tausan, 52, was a former member of the Hells Angels San Jose chapter and was the current sergeant at arms of the Santa Cruz chapter at the time of his death. Police have identified the suspect in his killing as Steve Ruiz, 38, another Hells Angels member they have been unable to locate.

Gonzalez was arrested Sept. 30 in San Francisco and was returned to Reno under tight security early Monday to face the criminal charges.

He faces one felony count of open murder, which in Nevada later can be amended to a specific count, such as first- or second-degree murder. The charge against Rudnick and Villagrana ? second-degree murder ? does not require proof of premeditation.

Asked by the judge Thursday if he understood what was going on, Gonzalez of San Francisco said, "Yeah, I guess." He said he was comfortable with his defense team so far and had no questions.

When the judge asked Pusich if she was comfortable proceeding with the arraignment she said, "Not particularly, your honor." She said she wanted Gonzalez to stand silent rather than enter a plea so as not to waive any of his constitutional rights while she awaits access to the grand jury transcript.

Court records allege Gonzalez, Rudnick, Villagrana and Pettigrew all conspired "with their respective gang members and/or each other to engage in an affray," and that both Gonzalez and Villagrana shot rival gang members inside the casino.

Prosecutors said in court documents it was important to keep the indictment sealed to prevent the destruction of evidence and ensure the safety of witnesses until all arrests were made.

"Not only may the investigation be compromised but other people may be endangered if the identities of the suspects and informants were to be obtained by either motorcycle gang," Hall wrote on Oct. 21.

Source: http://us.rd.yahoo.com/dailynews/rss/crime/*http%3A//news.yahoo.com/s/ap/20111118/ap_on_re_us/us_casino_shooting

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Saturday, November 19, 2011

Apple Crisp

If you want to serve an easy-to-make, pareve (non-dairy) and delicious dessert, try this recipe for apple crisp.

Ingredients:

  • 7-8 large Granny Smith apples
  • 1/2 cup sugar
  • 2 tsp. lemon juice
  • 1/4 tsp. ground cloves
  • 1/2 tsp. cinnamon
  • 1/2 cup sugar
  • 3/4 cup flour
  • 6 tsp. margarine (pareve)

Preparation:

1. Peel, core and slice apples.
2. Mix apples with 1/2 cup sugar, lemon juice, cloves and cinnamon.
3. In a separate bowl, mix together 1/2 cup sugar, flour and margarine.
4. Pour the apple mixture into a pie plate. Top with the flour mixture.
5. Bake at 350 degrees Fahrenheit for 45 minutes.

Source: http://judaism.about.com/od/thanksgivingrecipes/r/applecrisp.htm

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Friday, November 18, 2011

PFT: Reid irritated by questions about Vick's injury

New Orleans Saints v Atlanta FalconsGetty Images

With 3326 passing yards through ten games, Saints quarterback Drew Brees remains on pace to obliterate the single-season yardage record, set 27 years ago by Dan Marino.

Marino threw for 5,084.? Brees is on track for 5,321.

But Brees says he?s not thinking about it, in part because he chased that record (and nearly broke it) three years ago, when he finished with 5,069.

?I feel very different this year than I did back in 2008 in regards to this Marino thing,? Brees said Wednesday, in comments distributed by the team.? ?I think back in ?08, maybe because it was the first time that any of us had really been close to that record in a long time.? As I recall, Kurt Warner was on pace at one point.? Back in ?08, it seemed like every week it was a topic of discussion.? That was the first time I had been a part of anything like that.? For me, I tried not to make it stressful but it was hard not to think about it because people would always talk about it especially when we got down to the final two games where we had to average almost 380 [yards] a game in order to get to the record and we almost did it.? Maybe because I have been through that before, I am really not thinking about it or letting it creep into my mind all that often.?

Brees said that, with winning the only concern, he doesn?t keep track of his passing stats.? ?I am just so focused on winning games and doing whatever it takes to win the game,? Brees said.? ?Even this game against Atlanta, when somebody said I had thrown for 322 yards I was shocked.? I didn?t feel like it was that kind of a game.? It didn?t feel to me like a game that we were throwing it a lot and weren?t running it a lot but when you look at the stat book at the end of the game that is the way it turned out. . . .

?I think the way this season started, there were like six guys on pace to break Marino?s record after the first four or five games.? It seemed like this one of those crazy years where teams are throwing it a lot.? I think as the year goes on situations changes. Some people stay on pace and others don?t.? I really haven?t given it a lot of thought other doing whatever it takes to win.?

Though Patriots quarterback Tom Brady has fewer yards that Brees (3,032), Brady has played one less game.? And Brady currently is on pace for 5,390.

So if those patterns hold, Brees will indeed break Marino?s record.? But Brady, not Brees, will hold the record going forward.

Source: http://profootballtalk.nbcsports.com/2011/11/16/reid-gets-irritated-with-questions-about-when-vick-broke-his-ribs/related/

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