Saturday, March 30, 2013

Investing in Silver Vs Investing in Gold - What to Choose ...

Deciding between investing in silver or investing in gold can be difficult, because it is largely a personal choice. Silver and gold are both precious metals and make for good investments when you want to protect your wealth against inflation.
But there are serious differences between the two in terms of market size, volatility, and availability.

Market Size

The silver market has always been, and will continue to be, much smaller than the gold market. The amount of bullion gold for investment available is estimated to be twice as much as that of bullion silver.

What's more, the price of gold has been up to 97 times higher than that of silver during the last hundred years, making the gold market many, many times more valuable than the silver one.

Volatility

The relative smallness of the silver market compared to the gold market makes silver more volatile. So much so that sudden rises or slumps in the value of silver are extremely common. Obviously, this makes investing in silver possibly more risky than investing in gold.

But also possibly more rewarding, since the price of silver can also grow faster than that of gold. 2010 is a good example of a year when the price of silver - at least in the first half of the year - has risen much more than the price of gold.

Availability

There are far more known deposits of silver in the earth than there are deposits of gold. While some believe that gold availability is going to dwindle in the years to come, since most of the major gold deposits have been already mined, nobody seems to worry about the availability of silver.

The greater availability of silver suggests that silver will not become nearly as expensive as gold. It also suggests that silver prices can more easily fall than gold prices, since the growing scarcity of gold will conserve the latter's value.

So, Silver or Gold?

The essential things to consider are these:

? The gold market is much bigger than the silver market.

? Gold is, and will continue to be, much more valuable than silver.

? The price of silver can increase (as well as fall) more often and more significantly than the price of gold can.

? Silver deposits are widely available, whereas gold ones are growing scarcer.

All this means that neither silver nor gold is the better investment, but that you should choose the one most appropriate for your situation and purpose. Investing in silver can mean bigger return on investments in the short-term, but also more risks, whereas investing in gold can mean more stability and fewer risks, but also smaller return on investments in the short-term.

If you are looking for best?alternative investments?such as?investing in silver?or investing in gold, experts at Compare the Financial Markets will help provide valuable assistance.

By-?Una Page
Source-??TheEnergyReport.com??

Source: http://www.everythingaboutinvestment.com/2013/03/investing-in-silver-vs-investing-in.html

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Friday, March 29, 2013

RIM sells 1M BlackBerry 10s, surprise 4Q profit

TORONTO (AP) ? Research In Motion Ltd. said Thursday that it sold about 1 million phones running its new BlackBerry 10 system. It also surprised Wall Street by returning to profitability in the most recent quarter.

The earnings provide a first glimpse of how the BlackBerry 10 system, widely seen as crucial to the company's future, is selling internationally and in Canada since its debut Jan. 31. The 1 million new touch-screen BlackBerry Z10 phones were above the 915,000 that analysts had been expecting. Details on U.S. sales are not part of the fiscal fourth quarter's financial results because the Z10 just became available there last week, after the quarter ended.

In another sign of uncertainty, RIM lost about 3 million subscribers to end the quarter with 76 million. It's the second consecutive quarterly decline for RIM, whose subscriber based peaked at 80 million last summer.

Bill Kreyer, a tech analyst for Edward Jones, called the decline "pretty alarming."

"This is going to take a couple of quarters to really see how they are doing," Kreyer said.

The BlackBerry, pioneered in 1999, had been the dominant smartphone for on-the-go business people and other consumers before the iPhone debuted in 2007 and showed that phones can handle much more than email and phone calls. RIM faced numerous delays modernizing its operating system with the BlackBerry 10. During that time, it had to cut more than 5,000 jobs and saw shareholder wealth decline by more than $70 billion.

In the quarter that ended March 2, RIM earned $98 million, or 19 cents a share, compared with a loss of $125 million, or 24 cents a share, a year earlier. After adjusting for restructuring and other one-time items, RIM earned 22 cents a share. Analysts surveyed by FactSet had been expecting a loss of 31 cents.

Revenue fell 36 percent to $2.7 billion, from $4.2 billion. Analysts had expected $2.82 billion.

The company also announced that co-founder Mike Lazaridis will retire as vice chairman and director. He and Jim Balsillie had stepped down as co-CEOs in January 2012 after several quarters of disappointing results. Thorsten Heins, the chief operating officer, took over and spent the past year cutting costs and steering the company toward the launch of new BlackBerry 10 phones.

Investors appeared happy with the financial results. RIM's stock rose 27 cents, or 1.8 percent, to $14.84 in morning trading Thursday after the release of results.

"I thought they were dead. This is a huge turnaround," Jefferies analyst Peter Misek said from New York.

Misek said the Canadian company "demolished" the numbers, especially its gross margins. RIM reported gross margins of 40 percent, up from 34 percent a year earlier. The company credited higher average selling prices and higher margins for devices.

"This is a really, really good result," Misek said. "It's off to a good start."

The new BlackBerry 10 phones are redesigned for the new multimedia, Internet browsing and apps experience that customers are now demanding.

The Z10 has received favorable reviews since its release, but the launch in the critical U.S. market was delayed until late this month as wireless carriers completed their testing.

A version with a physical keyboard, called the Q10, won't be released in the U.S. for two or three more months. The delay in selling the Q10 complicates RIM's efforts to hang on to customers tempted by the iPhone and a range of devices running Google Inc.'s Android operating system. Even as the BlackBerry has fallen behind rivals in recent years, many users have stayed loyal because they prefer a physical keyboard over the touch screen on the iPhone and most Android devices.

RIM, which is changing is formal name to BlackBerry, said it expects to break even in the current quarter despite increasing spending on marketing by 50 percent compared with the previous quarter.

"To say it was a very challenging environment to deliver improved financial results could well be the understatement of the year," Heins said during a conference call with analysts.

Heins said more than half of the people buying the touch-screen Z10 were switching from rival systems. The company didn't provide details or specify whether those other systems were all smartphones. He said the Q10 will sell well among the existing BlackBerry user base. It's expected in some markets in April, but not in the U.S. until May or June.

Source: http://news.yahoo.com/rim-sells-1m-blackberry-10s-surprise-4q-profit-122926348--finance.html

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Thursday, March 28, 2013

Dow jumps 100 points; S&P nears record high

Stocks closed near their best levels Tuesday, with the Dow posting a new closing high and S&P 500 finishing less than 2 points from its closing high, lifted by a handful of encouraging economic reports that pointed to an improving economy and as investors seemed to temporarily overlook worries in the euro zone.

(Read More: American Dream Is Back, So Are Stocks: CNBC Survey)

The Dow Jones Industrial Average soared more than 100 points, led by Boeing and American Express, wiping out all of the previous session's losses.

The S&P 500 and the Nasdaq also finished near session highs. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, slumped below 13.

(Read More:Sell in May? Why it May Not Happen)

All key S&P sectors were ended in positive territory, led by health care and energy.

"From a fundamental perspective, while the dominant domestic theme has heretofore been better-than-expected economic data boosting investor confidence in the earnings outlook, despite sluggish first-quarter guidance and fears of fiscal drag, many are now beginning to lock in gains realizing that the flipside of stronger growth is that QE tapering is potentially drawing closer, Chairman Bernanke's assurances to the contrary notwithstanding," wrote Alec Young, global equity strategist at S&P Capital IQ. "After all, markets are forward looking."

In Europe, Fitch put Cyprus on rating watch negative, saying the shock from the country's banking system could damage the domestic economy and thus public finances. But Wall Street was unfazed by the announcement.

Banks in Cyprus will be closed until Thursday, and will then be subject to capital controls to prevent a run on deposits. Cyprus's Finance Minister Michael Sarris told BBC radio big depositors in Cypriot banks could lose about 40 percent of their deposits but an exact figure had yet to be decided. Banks are due to reopen on Thursday and will be subject to capital controls to prevent a run on deposits.

(Read More: Why It's Important to Keep Cypriot Banks Shut)

Still, investors seemed less fazed over Cyprus. European shares ended higher, snapping their thee-day losing streak.

"We're more optimistic about Cyprus than we were a couple days ago, but it's going to continue to be unpredictable and if nothing else, even if it does get resolved, it's a reminder of just how fragile the situation in Europe is," said Matthew Kaufler, portfolio manager of the Federated Clover Fund of the day's economic data.

Goldman Sachs rose after the financial giant and Berkshire Hathaway amended the warrants Berkshire holds as part of the lifeline it gave Goldman during the financial crisis.

Meanwhile the Federal Reserve ordered Citigroup to improve its anti-money laundering controls, after several units of the bank were subject to similar orders in 2012.

Netflix rallied to lead the S&P 500 gainers after Pacific Crest raised its price target on the movie-streaming company to $225 from $160.

Apple fluctuated after Piper Jaffray's Gene Munster called consensus estimates for the tech giant's March and June quarters too high, but said new product launches mean investors will look to the second half of the year for opportunity. In addition, Munster said he believes Apple will increase its dividend to around $14 a share from the current $10.60.

Boeing said the first round test of its new battery system for its 787 Dreamliner went according to plan, putting the jet one step closer to returning to service.

Children's Place slumped after the kids' apparel retailer issued a downbeat earnings outlook for the current quarter and fiscal year.

On the economic front, the S&P/Case Shiller home price 20-city index soared 8.1 percent compared to a year ago, kicking off the year with the biggest year-over-year increase since 2006. But new home sales declined 4.6 percent in February to a seasonally adjusted annual rate of 411,000 units, according to the Commerce Department, missing estimates. Homebuilders were in the red, led by Beazer and DR Horton.

Consumer confidence index dropped in March, according to the Conference Board as Americans turned more pessimistic about economic prospects in the short term.

But durable goods orders climbed in February as demand for transportation equipment rebounded, according to the Commerce Department, topping expectations.

"It's been a mixed bag and a continuation of what we've seen all along," said Kaufler. "The key takeaway is that the economy is on the mend, but in a very slow way?it's a slow grind."

Treasurys eased their gains after the government auctioned $35 billion in 2-year notes at a high yield of 0.255 percent. The bid-to-cover ratio, an indicator of demand, was 3.27.

?By CNBC's JeeYeon Park (Follow JeeYeon on Twitter: @JeeYeonParkCNBC)

? 2013 CNBC LLC. All Rights Reserved

Source: http://feeds.nbcnews.com/c/35002/f/653351/s/2a057d5c/l/0L0Snbcnews0N0Cbusiness0Cdow0Ejumps0E10A0A0Epoints0Esp0Enears0Erecord0Ehigh0E1C90A7990A6/story01.htm

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Arkansas Senate votes to override veto of voter ID bill

By Suzi Parker

LITTLE ROCK, Ark (Reuters) - The Republican-controlled Arkansas Senate voted 21-12 on Wednesday to override a veto by the state's Democrat governor of a bill that would require voters to show photo identification.

The measure would become law if the Republican-controlled state House of Representatives also votes to override Governor Mike Beebe's veto.

In Arkansas, lawmakers can override a veto by a simple majority in each chamber. This year, state lawmakers have overridden two vetoes of bills that restrict abortion.

The House voted 51-44 to pass the voter identification measure, but it was not clear on Wednesday if there would be sufficient votes to override the veto.

In his veto letter on Monday, Beebe said he "believes that the bill will unnecessarily cost taxpayers money, grow bureaucracy and risk disenfranchisement of voters.

"I cannot approve such an unnecessary measure that would negatively impact one of our most precious rights as citizens," Beebe added.

Supporters of the proposal say it would prevent voter fraud.

"We are pleased that the Arkansas Senate has taken this commonsense measure to ensure the fairness and integrity of our elections in Arkansas," said David Ray, spokesman for the Republican Party of Arkansas.

Should the bill become law, Arkansas would join the nearly three dozen U.S. states that have similar voter ID measures, according to the National Conference of State Legislatures. Legal challenges to voter ID laws are pending in several U.S. states.

Under current Arkansas law, poll workers can request identifying documents, but voters are not required to show them.

Under the proposed law, photo ID cards would be made by county clerks at no cost for registered voters who do not have other valid forms of identification. The state Bureau of Legislative Research has reported it would cost the state an additional $300,000.

Voters without an ID could still cast a provisional ballot, which would be counted if the voter returned with photo identification.

(Reporting by Suzi Parker; Editing by Corrie MacLaggan, Bob Burgdorfer and Andre Grenon)

Source: http://news.yahoo.com/arkansas-senate-votes-override-veto-voter-id-bill-205348845.html

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Saturday, March 23, 2013

Pistorius brothers both have court dates next week

FILE - In this photo taken Friday, Feb. 22, 2013 Olympic athlete, Oscar Pistorius, in court in Pretoria, South Africa, for his bail hearing charged with the shooting death of his girlfriend, Reeva Steenkamp. A lawyer for Pistorius says his appeal against bail conditions will be heard on Thursday March 28, 2013, a day after the culpable homicide trial of older brother Carl begins in another South Africa court. (AP Photo/Themba Hadebe, File)

FILE - In this photo taken Friday, Feb. 22, 2013 Olympic athlete, Oscar Pistorius, in court in Pretoria, South Africa, for his bail hearing charged with the shooting death of his girlfriend, Reeva Steenkamp. A lawyer for Pistorius says his appeal against bail conditions will be heard on Thursday March 28, 2013, a day after the culpable homicide trial of older brother Carl begins in another South Africa court. (AP Photo/Themba Hadebe, File)

(AP) ? Oscar Pistorius' appeal against his bail conditions will be heard on Thursday, a day after the culpable homicide trial of older brother Carl begins, a family lawyer told The Associated Press on Friday.

Advocate Kenny Oldwadge said they had confirmation from Pretoria's North Gauteng High Court that the appeal is scheduled for March 28 at the High Court, meaning the brothers will both likely have legal proceedings on the same day.

The Olympic athlete, charged with murder in the shooting death of his girlfriend Reeva Steenkamp last month, is challenging travel restrictions and having to report twice a week to a police station, among other conditions.

Oldwadge and prosecutors said Pistorius ? who hasn't been seen publicly since he was granted bail ? was not required to appear in court for the appeal.

The next part of the 26-year-old double-amputee runner's high-profile case ? which continues to grip South Africans and much of the world's media ? will now take place while brother Carl is in another court to defend himself against a culpable homicide charge for alleged negligent driving in the death of a 36-year-old woman in a road collision in 2008.

Carl was going to trial on Wednesday and Thursday in the Vanderbijlpark Magistrate's Court, south of Johannesburg, prosecutors said. The 28-year-old Carl denies the charges and Oldwadge said he would lead Carl's defense at the trial.

The concurrent dates for the Pistorius brothers had also stretched the family's legal team, Oldwadge said, and provided them with significant logistical problems.

"We didn't suggest it (the date for Oscar's appeal) but we were forced into it because of the need to get the appeal heard as soon as possible," Oldwadge said.

He said there was "no need" for Oscar to appear in court.

The multiple Paralympic champion's legal team filed an appeal against some of his bail conditions on March 7, objecting to him being not allowed to travel outside of South Africa even though a magistrate said he was not a flight risk when granting him 1 million rand ($108,000) bail last month. They're also challenging the alcohol ban and that Pistorius cannot speak with any residents at the Silverwoods Country Estate, where he shot Steenkamp dead in his house the early hours of Feb. 14.

Pistorius' lawyers say he should be able to consult with residents to be able to prepare his defense. They also object to the ruling that he has to report twice a week to the Brooklyn Police Station in Pretoria, where he was held after his arrest.

Pistorius denies murdering his girlfriend and says he shot her by mistake fearing an intruder was in his home. Prosecutors say he killed her intentionally following a loud argument in the early hours of Valentine's Day.

State prosecutors also believe they have a culpable homicide case against Carl, who they argue was driving negligently, National Prosecuting Authority spokesman Medupe Simasiku told the AP on Friday.

Simasiku said the older Pistorius brother was driving a Ford Ranger SUV in March 2008 when he collided with a female motorcyclist. The woman, Marietjie Barnard, died in a hospital.

"According to the investigation we have, there is a case against Pistorius," Simasiku said.

Simasiku, who is the spokesman for the prosecution in both Pistorius cases, said the scheduling of proceedings in both brothers' cases in the same week was not intentional.

"(Carl's trial) was scheduled way before Oscar," he said. "People may think ... that we were trying to run them concurrently."

___

Follow Gerald Imray at www.twitter.com/GeraldImrayAP

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/347875155d53465d95cec892aeb06419/Article_2013-03-22-Pistorius-Shooting/id-669e3445fdb84651951c468adc02197c

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Friday, March 22, 2013

Crunch Franchise Announces Deal with Fitness Holdings & RLB ...

NEW YORK - March 20, 2013 // PRNewswire // - Crunch, the health club chain best known for making serious fitness fun through unique programming and cutting-edge training, has inked a deal with Fitness Holdings LLC & RLB Holdings to open an additional 42 clubs across New York, New Jersey, Massachusetts and Pennsylvania.

"Our decision to partner with Crunch Franchise is the result of finding a strategic partner that shares our commitment to delivering industry-leading innovation to its customers. The Crunch brand and its history of pioneering new group fitness classes and state-of-the-art personal training programs, along with a great business model, make Crunch Franchise the ideal fitness organization to work with to achieve our company's growth strategy," says Steve Viscardi, Fitness Holding's CEO.

Crunch Franchise has grown exceptional quickly in all areas including units sold, selling over 200 franchises in just over two years, club openings and member growth. Crunch Franchise has established itself as one of the fastest growing and most competitive models in the industry and most recently, was named one of the "Hottest Franchises" for the second consecutive year by Entrepreneur Magazine and was awarded the prestigious FBR 50 Award by Franchise Business Review for outstanding franchisee satisfaction.

"I am thrilled to be partnering with Fitness Holdings and RLB Holdings as they are well established health club operators and business investors who are not only a pleasure to work with but are a perfect fit to drive growth as they expand the Crunch brand to new and exciting locations," says Ben Midgley, President, Crunch Franchise. I know that our new partners have fully embraced the Crunch philosophy of 'No Judgments' and will continue to bring the latest and greatest in fitness innovation to these new clubs," said Midgley.

Residents near these new locations will be able to enjoy Crunch's diverse and innovative group fitness classes, including, BodyWeb w/TRX?, BOSU? Bootcamp, Zumba, and tons of state of the art fitness equipment. In addition, Crunch's expert personal trainers are available to help members reach personal fitness and health goals.

For more information about Crunch franchising opportunities go to www.crunchfranchise.com.

About Crunch

Crunch is a gym that believes in making serious exercise fun by fusing fitness and entertainment and pioneering a philosophy of No Judgments. Headquartered in New York City, and co-owned by New Evolution Ventures (NeV) and private-equity firm Angelo Gordon, Crunch serves over 250,000 members with 61 gyms worldwide, including 34 franchise locations CT, FL, TX, WA, OR, CA, NJ, VA, NY and Australia, and is rapidly expanding across the U.S. and around the globe. Go to www.crunch.com for more information.

About New Evolution Ventures? (NeV)

About New Evolution Ventures? (NeV) Based in Northern California, New Evolution Ventures (NeV) is a private equity firm focused on the acquisition, development and operations management of fitness, health and wellness interests both domestically and internationally. Founded in 2008 by Mark Mastrov, Jim Rowley and Mike Feeney, the current team of NeV professionals is shaping the world of fitness, health and wellness one brand at a time. With a foundation representing over a century of business experience, NeV currently has operations and investments in more than 20 countries worldwide representing over 800+ facilities. For more information, visit www.nev.com.

About Angelo, Gordon & Co., L.P.

Angelo, Gordon & Co., L.P. is a privately held limited partnership founded in November 1988, and currently manages approximately $23 billion. The firm's investment focus centers on core competencies of real estate, credit, and private equity. Angelo, Gordon has over 200 employees (approximately half of whom are investment professionals) and is headquartered in New York, with associated offices in Chicago, Los Angeles, Washington D.C., London, Hong Kong, Seoul, Shanghai, Tokyo, and Sydney. For more information, visit www.angelogordon.com.

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Source: http://www.franchising.com/news/20130320_crunch_franchise_announces_deal_with_fitness_holdi.html

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Wednesday, March 20, 2013

Commander: Contingency plans under way for Syria

WASHINGTON (AP) ? The top U.S. military commander in Europe said Tuesday that several NATO countries are working on contingency plans for possible military action to end the two-year civil war in Syria as President Bashar Assad's regime accused U.S.-backed Syrian rebels of using chemical weapons.

The Obama administration rejected the Assad claim as a sign of desperation by a besieged government intent on drawing attention from its war atrocities ? some 70,000 dead, more than 1 million refugees and 2.5 million people internally displaced. A U.S. official said there was no evidence that either Assad forces or the opposition had used chemical weapons in an attack in northern Syria.

As the war enters its third year, the U.S. military, State Department officials and the U.N. high commissioner for refugees delivered a dire assessment of a deteriorating situation in Syria and the sober view that even if Assad leaves, the Middle East nation could slip into civil strife similar to the Balkans in the 1990s.

"The Syrian situation continues to become worse and worse and worse," Adm. James Stavridis, the commander of U.S. European Command, told the Senate Armed Services Committee. "No end in sight to a vicious civil war."

Stavridis, who is retiring soon, said a number of NATO nations are looking at a variety of military operations to end the deadlock and assist the opposition forces, including using aircraft to impose a no-fly zone, providing military assistance to the rebels and imposing arms embargoes.

As with U.S. and international involvement in Libya in 2011, a resolution from the U.N. Security Council and agreement among the alliance's 28 members would be necessary before NATO assumes a military role in Syria, Stavridis said.

"We are prepared if called upon to be engaged as we were in Libya," he said.

But within individual member countries, the admiral said, "there's a great deal of discussion" about lethal support to Syria, no-fly zones, arms embargoes and more. "It is moving individually within the nations, but it has not yet come into NATO as an overall NATO-type approach," he said.

Senate Armed Services Chairman Carl Levin, D-Mich., asked whether there is any consideration of targeting Syria's air defenses. Stavridis simply said yes.

NATO has installed Patriot missile defense batteries in southern Turkey along the border with Syria that are also capable of shooting down aircraft. During an exchange with Sen. John McCain, R-Ariz., Stavridis said the Patriots could be positioned in such a way as to shoot down Syrian aircraft, and he indicated that doing so would be a powerful disincentive for pilots to fly in that area.

Turkey's leaders have been "very emphatic" that the missiles be used only for defensive purposes, Stavridis said. To use the batteries for other missions, including attacking Syrian military aircraft, would require consensus among NATO's members ? "and we're far from that," Stavridis told the committee.

Stavridis said that his personal opinion is that providing military assistance to the Syrian opposition "would be helpful in breaking the deadlock and bringing down the Assad regime."

Syria's state-run news agency said 25 people were killed in a chemical attack on the Khan al-Assad village in northern Aleppo province. It said 86 people were wounded, some critically, and published pictures of children and others on stretchers in what appeared to be a hospital ward.

Russia, which has steadfastly supported Assad in Syria's civil war, on Tuesday backed Assad's assertion of a chemical attack.

White House spokesman Jay Carney said the U.S. is looking carefully at all allegations but that the Obama administration is "deeply skeptical" of any claims emanating from Assad's regime.

Denis McDonough, the White House chief of staff, said the U.S. wouldn't stand by if it turns out the regime used chemical weapons, but he declined to say whether he believed the reports could be true.

"If this is substantiated, it does suggest ... that this is a game-changer. And we will act accordingly," McDonough told CNN. "This is something we take very, very seriously."

The chairman of the House Intelligence Committee, Rep. Mike Rogers, R-Mich., said he thought there was a "high probability" the Assad government had used chemical weapons, although it was not clear whether he was referring to the attack in northern Syria. "We need that final verification, but given everything we know over the last year and a half, I would come to the conclusion that they are either positioned for use, and ready to do that, or in fact have been used," Rogers told CNN.

Syria has one of the world's largest arsenals of chemical weapons and Washington has been on high alert since last year for any possible use or transfer of chemical weapons by Assad's forces. It feared that an increasingly desperate regime might turn to the stockpiles in a bid to defeat the rebellion or transfer dangerous agents to militant groups such as Lebanon's Hezbollah, which the Syrian government has long supported.

At the time, officials noted movement of some of the Syrian stockpiles but said none appeared to be deployed for imminent use. Still, President Barack Obama declared the use, deployment or transfer of the weapons to be his "red line" for possible military intervention in the Arab country.

Sen. Lindsey Graham, R-S.C., a member of the Armed Services Committee, raised the prospect of deploying U.S. troops to Syria to secure the stockpile of chemical weapons.

"If the choice is to send in troops to secure the weapons sites versus allowing chemical weapons to get into the hands of some of the most violent people in the world, I vote to cut this off before it's a problem," Graham told a group of reporters. "This administration's handling of Syria is going to cause incredible problems in the Mideast and compromise our national security."

But another member of the committee, Sen. Kelly Ayotte, R-N.H., said the United States "should take every step that we can short of boots on the ground."

At a separate congressional hearing, Ant?nio Guterres, the U.N. high commissioner for refugees, said the international community faces a "tipping point" in Syria, with a fast-moving refugee crisis.

The number of refugees arriving in neighboring countries has jumped to 14,000 in a 24-hour period, up from 3,000 in December, 5,000 in January and 8,000 in February, Guterres said. Lebanon has 360,000 registered Syrians, Jordan more than 350,000 and Turkey some 260,000.

"The refugee crisis has been accelerating since last summer, and has reached staggering proportions since the beginning of this year," Guterres told a Senate Foreign Relations subcommittee. He said the world community needs "to be prepared for things to get worse before they get better."

After Assad falls, Syria could end up like the Balkans, Stavridis told the Armed Services panel.

"We saw in the Balkans 100,000 killed, 1 million people, 2 million people pushed across borders, (and) two significant wars, one in Bosnia, Herzegovina, one in Serbia, Kosovo," Stavridis said. "I think, unfortunately, that's probably the future in Syria. It's going to be after the Assad regime falls. I think, there's going to be every potential for a great deal of revenge killing, interreligious conflict between various segments of the population, and it's very difficult to see the pieces of Syria going back together again very easily."

The violent, unending war has prompted some in Congress to offer legislation and demand greater action by the Obama administration. But a war-weary American public has been slow to embrace many of the efforts.

In the latest proposal, Sens. Bob Casey, D-Pa., and Marco Rubio, R-Fla., offered a bipartisan measure that would provide non-lethal aid to vetted Syrian opposition groups battling the Assad regime, such as body armor and communications equipment.

Casey and Rubio left open the possibility of arming the rebels at a later date.

"Down the road we may make another determination," Casey said when asked about arming the rebels.

___

Associated Press writer Bradley Klapper contributed to this report.

Source: http://news.yahoo.com/commander-contingency-plans-under-way-syria-155448430--politics.html

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Tuesday, March 19, 2013

Cantor Fitzgerald initiates coverage of Amaya Gaming with a BUY ...

Cantor Fitzgerald analyst Tom Liston says he expects that Amaya Gaming's acquisition of gaming machine operator Cadillac Jack  will provide accelerating growth in licenses, but anticipates that online gaming will become a larger part of the company's revenue mix.

Cantor Fitzgerald analyst Tom Liston says he expects that Amaya Gaming?s acquisition of gaming machine operator Cadillac Jack will provide accelerating growth in licenses, but anticipates that online gaming will be the company?s largest driver of margins.

Cantor Fitzgerald analyst Tom Liston this morning initiated coverage of Amaya Gaming (TSX:AYA) with a BUY rating and $7.50 target price.

Liston says Amaya?s four most recent acquisitions, Chartwell, CryptoLogic, Ongame and Cadillac Jack, are highly strategic and place the company in a solid position to benefit from gambling regulation opening up in the United States.

Liston says that the potential windfall from taxing and regulating online gaming is becoming too tempting for various governments to ignore. But some of these jurisdictions will move to prevent those online gaming providers who operated during the prohibition period from entering the market. The Cantor Fitzgerald analyst says Amaya will benefit from this because it has played by the rules, and been a ?good actor?.

Many of the larger business-to-consumer sites that provided online poker over the past decade, notes Liston, will likely be barred from securing U.S. licenses.

Liston says Amaya?s share of a legislated online poker environment could be significant; about $190-million based on a 10% market share and 50% revenue split with operator partners, he says.

Of course, online gaming is just one part of Amaya?s business, accounting for 37% of its 2011 revenue, while land-based gaming made up 9%, and lottery and government solutions was 54%. While he expects that the Cadillac Jack acquisition will provide accelerating growth in licenses, he anticipates that online gaming will be the company?s largest margin driver.

Shares of Amaya Gaming closed today up .9% to $5.65.

_________________________________________________________________________________________________________________________________________

Source: http://www.cantechletter.com/2013/03/cantor-fitzgerald-initiates-coverage-of-amaya-gaming-with-a-buy-rating-and-7-50-target-price0318/

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Pakistani girl shot by Taliban starts at English school

LONDON (Reuters) - Malala Yousufzai, the Pakistani girl who drew global attention after being shot in the head by the Taliban for advocating girls' education, returned to school on Tuesday in Britain where she has been treated for her injuries.

Yousufzai, 15, has become an international figure as a symbol of resistance to Taliban efforts to deny women's rights and is even among nominees for this year's Nobel Peace Prize.

She described her return to school as the most important day of her life.

"I am excited that today I have achieved my dream of going back to school. I want all girls in the world to have this basic opportunity," she said in a statement.

Accompanied by her father and carrying a pink rucksack, Yousufzai joined other pupils at Edgbaston High School for Girls in Birmingham, central England, close to the hospital where she underwent surgery to reconstruct her skull last month.

"I miss my classmates from Pakistan very much but I am looking forward to meeting my teachers and making new friends here in Birmingham," she said.

Yousufzai was brought to Britain for specialist treatment after she was shot in the head at point-blank range by Taliban gunmen last October.

She left hospital in February after she made a good recovery from surgery during which doctors mended parts of her skull with a titanium plate and inserted a cochlear implant to help restore hearing on her left side.

Yousufzai will study a full curriculum at the school, where annual fees are 10,000 pounds ($15,100), before selecting subjects for GCSE exams, which are generally taken at age 16.

"She wants to be a normal teenage girl and to have the support of other girls around," said Edgbaston headteacher Ruth Weeks. "Talking to her, I know that's something she missed during her time in hospital." ($1 = 0.6615 British pounds)

(Reporting by Michael Holden; Editing by Mark Heinrich)

Source: http://news.yahoo.com/pakistani-girl-shot-taliban-starts-english-school-183837703.html

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Wednesday, March 13, 2013

Recovery in motion

Recovery in motion [ Back to EurekAlert! ] Public release date: 12-Mar-2013
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Contact: Jim Kelly
jpkelly@utmb.edu
409-772-8791
University of Texas Medical Branch at Galveston

Post-discharge activity level linked to risk of hospital readmission in elderly

A new study has found a link between the activity levels of elderly people who have just been released from the hospital and the risk that they will require readmission within 30 days.

The investigation draws on data collected from 111 patients aged 65 and older, each of whom was fitted with a "step activity monitor" during his or her hospital stay. Worn on the patient's ankle, the pager-sized device counted every step the person took during hospitalization and for a week after discharge.

"We're using activity here as a biomarker, similar to the way you might use blood pressure," said University of Texas Medical Branch at Galveston assistant professor Steve R. Fisher, lead author of a paper in Journals of Gerontology Series A. "While we can't say whether activity is a cause or effect in these cases, we can use it as a marker to tell us whether a person is at high risk and we need to intervene."

Geriatricians want to reduce readmissions among the elderly because hospitalization can actually endanger their health by reducing activity levels and contributing to debilitating muscle loss. Hospitals have an additional motivation: In October 2012, Medicare began financially penalizing hospitals with higher than expected 30-day readmission rates for certain diagnoses.

Fisher envisions hospitals using inexpensive electronic pedometers to monitor elderly patient activity in the hospital and for a brief period after discharge.

"If you suffer congestive heart failure, a nurse will call you during the first week home to ask how whether you've gained any weight, because an increase in water retention can be a sign that CHF is exacerbating," Fisher said. "This is the same kind of principle: We want to know how much people are moving around, because we want to know whether they're going downhill. The key is to avoid re-hospitalization, which often starts a cascade of events that leads to debility."

###

Other authors of the paper include Yong-Fang Kuo, Mukaila A. Raji, James S. Goodwin, Glenn V. Ostir, Gulshan Sharma, Amit Kumar and Kenneth J. Ottenbacher. This research was supported by the National Institutes of Health.



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AAAS and EurekAlert! are not responsible for the accuracy of news releases posted to EurekAlert! by contributing institutions or for the use of any information through the EurekAlert! system.


Recovery in motion [ Back to EurekAlert! ] Public release date: 12-Mar-2013
[ | E-mail | Share Share ]

Contact: Jim Kelly
jpkelly@utmb.edu
409-772-8791
University of Texas Medical Branch at Galveston

Post-discharge activity level linked to risk of hospital readmission in elderly

A new study has found a link between the activity levels of elderly people who have just been released from the hospital and the risk that they will require readmission within 30 days.

The investigation draws on data collected from 111 patients aged 65 and older, each of whom was fitted with a "step activity monitor" during his or her hospital stay. Worn on the patient's ankle, the pager-sized device counted every step the person took during hospitalization and for a week after discharge.

"We're using activity here as a biomarker, similar to the way you might use blood pressure," said University of Texas Medical Branch at Galveston assistant professor Steve R. Fisher, lead author of a paper in Journals of Gerontology Series A. "While we can't say whether activity is a cause or effect in these cases, we can use it as a marker to tell us whether a person is at high risk and we need to intervene."

Geriatricians want to reduce readmissions among the elderly because hospitalization can actually endanger their health by reducing activity levels and contributing to debilitating muscle loss. Hospitals have an additional motivation: In October 2012, Medicare began financially penalizing hospitals with higher than expected 30-day readmission rates for certain diagnoses.

Fisher envisions hospitals using inexpensive electronic pedometers to monitor elderly patient activity in the hospital and for a brief period after discharge.

"If you suffer congestive heart failure, a nurse will call you during the first week home to ask how whether you've gained any weight, because an increase in water retention can be a sign that CHF is exacerbating," Fisher said. "This is the same kind of principle: We want to know how much people are moving around, because we want to know whether they're going downhill. The key is to avoid re-hospitalization, which often starts a cascade of events that leads to debility."

###

Other authors of the paper include Yong-Fang Kuo, Mukaila A. Raji, James S. Goodwin, Glenn V. Ostir, Gulshan Sharma, Amit Kumar and Kenneth J. Ottenbacher. This research was supported by the National Institutes of Health.



[ Back to EurekAlert! ] [ | E-mail | Share Share ]

?


AAAS and EurekAlert! are not responsible for the accuracy of news releases posted to EurekAlert! by contributing institutions or for the use of any information through the EurekAlert! system.


Source: http://www.eurekalert.org/pub_releases/2013-03/uotm-rim031213.php

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2-hour citywide closure of Seattle Parks rec facilities tomorrow

March 12, 2013 at 5:12 pm | In West Seattle news, West Seattle parks | No Comments

Just announced by Seattle Parks, via their Parkways website:

Seattle Parks and Recreation will close all recreational facilities tomorrow, March 13, from 12:30 to 2:30 so that Parks employees can meet with their leaders and talk to Parks management about the shooting that took place at Parks? Densmore Ave. N facility on Friday, March 8.

This meeting will give the recreation staff time with their management team and with counselors. Affected facilities are community centers, pools, environmental learning centers and the Amy Yee Tennis Center.

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Source: http://westseattleblog.com/2013/03/2-hour-citywide-closure-of-seattle-parks-rec-facilities-tomorrow

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Saturday, March 9, 2013

Steady US job gains likely continued in February

In this Monday, Feb. 25, 2013. Ann Oganesian, left, of Newton, Mass., pauses as she speaks with a State Dept. employee about job opportunities with the federal government during a job fair in Boston. The Labor Department is scheduled to release the jobs report at 8:30 a.m. EST Friday March 8, 2013. (AP Photo/Michael Dwyer)

In this Monday, Feb. 25, 2013. Ann Oganesian, left, of Newton, Mass., pauses as she speaks with a State Dept. employee about job opportunities with the federal government during a job fair in Boston. The Labor Department is scheduled to release the jobs report at 8:30 a.m. EST Friday March 8, 2013. (AP Photo/Michael Dwyer)

In this Monday, Feb. 25, 2013, photo, Sayed Mouawad, right, of Providence, R.I., gestures while speaking to a company representative during a job fair in Boston. The Labor Department is scheduled to release the jobs report at 8:30 a.m. EST Friday March 8, 2013. (AP Photo/Michael Dwyer)

(AP) ? Job growth probably continued at a modest but steady pace last month, buoyed by consumer spending and strength in the housing and auto industries.

Economists forecast that employers added 152,000 jobs in February, according to a survey by FactSet, about the same as in January. The unemployment rate likely dipped to 7.8 percent from 7.9 percent.

The Labor Department is scheduled to release the jobs report at 8:30 a.m. EST Friday.

More hiring is needed to swiftly reduce the unemployment rate, which has been stuck at 7.8 percent or above since September. Job gains of at least 100,000 a month are needed just to keep up with population growth and prevent the unemployment rate from rising.

From November through January, monthly job growth has averaged 200,000, up from 150,000 for the previous three months. Most economists expect job gains of about 180,000 a month this year. That's about the same as last year, when the rate fell 0.7 percentage point.

Some analysts say the snowstorm that struck several Northeast states in early February might have held down hiring last month by about 30,000. Others note that the storm hit on a weekend and might not have kept that many people from work.

Several other reports this week have raised hopes that hiring could soon accelerate.

A four-week average of applications for unemployment aid fell to its lowest level in five years. Applications are a proxy for layoffs. When they fall, it suggests that companies are cutting fewer jobs. More hiring may follow.

And payroll services provider ADP said its survey showed that businesses added 198,000 jobs in February, above most analysts' expectations. And January's hiring was revised higher by 23,000 to 215,000.

Small businesses have stepped up hiring in the past two months after lagging behind hiring by bigger companies since the recession ended in June 2009.

Services firms, including retailers, restaurants and construction companies, added jobs at a healthy pace in February, according to the Institute for Supply Management's monthly survey. An index of hiring by service companies slipped but remained near January's seven-year high.

The ISM's manufacturing survey found that factories also added workers in February, though more slowly than in January.

Strong auto sales and a steady housing recovery are spurring hiring and economic growth. So far, higher gas prices and a Jan. 1 increase in Social Security taxes haven't caused Americans to cut back on big-ticket purchases.

Across-the-board government spending cuts also kicked in March 1 after the White House and Congress failed to reach a deal to avoid them. Those cuts will likely lead to furloughs and layoffs in coming weeks.

New-home sales jumped 16 percent in January to the highest level since July 2008. And builders started work on the most homes last year since 2008.

Home prices rose by the most in more than six years in the 12 months that ended in January. Higher prices tend to make homeowners feel wealthier and more likely to spend.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/f70471f764144b2fab526d39972d37b3/Article_2013-03-08-US-Economy/id-a00604fb39154a2893d4359675b0feb7

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Thursday, March 7, 2013

Can a social network built for two really improve your marriage ...

I just finished posting the obligatory wedding anniversary status update on Facebook, complete with a wedding picture. Let?s face it: These kinds of status updates have replaced greeting cards for a lot of people. But some people simply do not want to share their most intimate sentiments with other peoples? news feeds, which has given birth to the personal social network.

Yes, a personal social network. While some offer to link you up exclusively with only close friends or relatives, a number cater specifically to relationships. It?s just you and you?re significant other. But what?s the point of a ?social network? comprised of two people? Do these services actually bring you any closer together? I decided to find out.

It?s been eight years for my wife Kathy and I, and as with any good marriage, our love has grown in response to the problems we have faced together. Communication is key, so I was more than willing to try one of these social networks built for two, an app called Tokii.

Once you and your partner have entered into a relationship (one sends an invitation that the other has to accept; no imaginary relationships with Jennifer Lawrence), you are provided a place to describe your mood using both text and a rather large collection of emoticons. There?s also a bank of quizzes ? called DiscoveryGames ? that you can take solo, together, or in a ?compete? mode where you try to guess what the other person?s answers will be.

The quizzes run from groups of ten steamy questions you might come across with a sex therapist to banks of questions about parenting or religion. This is the most fun part of the process and where Tokii has its claim to fame, having started as a website that focused on these types of quizzes. Unfortunately some of the cooler ideas from the site, like the TradingPost where you can barter for certain services from your mate, haven?t made it to the app yet.

The generic quizzes are great, and cover universal themes that every couple should address in their relationship. Some of the ?timelier? quizzes, asking your partner?s take on current events for example, are in terrible need of updating. The most recent ones cover the events that made news? in 2011. Not surprisingly, my wife was in favor of killing Osama bin Laden.

After a couple of weeks of use, I can report that we did not use the mood-entry function at all. It?s a fine idea, but we found that if we were stressed or excited or wanted to flirt, we would just text like we?ve been doing for years. Also, texting tells you when you have a new message, whereas Tokii lacks push functionality and only sends email notifications when a quiz is completed. If you just put things out into the ether on an app I?m not used to, things get ignored.

The DiscoveryGames were fun ? even if they were only multiple choice ? and Kathy will be the first to tell you that she won all of those in which we ?competed?, but only by a question or two. I?m blaming the fact that men are irrefutably honest; therefore it was easy to guess my answers. Allowing short answers on certain questions would be a much more valuable experience for sharing, even if you couldn?t play the guessing game.

As with any aspect of a relationship, the key to making Tokii work is commitment. If you and your partner really focus on using it for your interpersonal communications, it provides some value. If it?s something you do on a lark, you will quickly move on to the alternatives you have already been using.

Many social networks provide a way to connect with the people, the question with Tokii is whether it can save you hundreds of dollars in couples? counseling fees. Because of the anemic messaging and lack of short-answer capability in the DiscoveryGames, the answer is no. Much more ground ? and much more up-to-date topics ? can be covered on the leather couch of a therapist. But does that mean that some of these other personalized social options can?t work? After all, isn?t one of the main features of Google+ the idea that you can form circles of specific people?

The fact that my wife ? a very private person who is about as far away from an oversharer on Facebook as you can get ? could not open up on Tokii says a lot. Social networking is not for everybody. We shouldn?t have to design new sites and apps in an attempt to draw people out from their bubble or protect oversharers from embarrassing themselves.

While personal social networks present an interesting alternative to the wide world of Facebook, they?ll will need to provide much more value and really help people along on the path of relationship building in order to shift the paradigm. Offering a more secure experience is not enough.

Source: http://www.digitaltrends.com/social-media/can-a-social-network-built-for-two-really-improve-your-marriage/

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Chavez dies shortly after expelling US military attaches

Even as he lay dying, Venezuela President Hugo Chavez picked a fight with the US. El Universal of Caracas said "Chavez died" in a banner headline Tuesday.

A Google Translation of the paper said: "Hugo Chavez died after a long battle against cancer, a disease that was treated in Havana since mid-2011. The President had traveled to Cuba, in this final stage the December 8, 2012, two months after his fourth election, to be operated for the fourth time."

Venezuelan TV said Chavez died at 4:25 p.m.

The Associated Press reported the country had expelled two US military attach?s, claiming they met with military officers to destabilize the country. The Los Angeles Times and CBS reported he had died shortly after the expulsions.

?We completely reject the Venezuelan government?s claim that the United States is involved in any type of conspiracy to destabilize the Venezuelan government,? State Department spokesman Patrick Ventrell said in a statement.

Human Rights Watch said, ?Hugo Ch?vez?s presidency was characterized by a dramatic concentration of power and open disregard for basic human rights guarantees.?

El Trajajadores of the Communist Party in Havana commented: ?He died a good man. Let us raise a requiem for Chavez and then think what Jos? Mart? wrote one day: ?The tomb is the route, and not the end.??

Chavez, who returned from Cuba in February with no notice after being treated for cancer, has long been the face of leftist opposition to the US in South America, though his biggest fights were with former President George Bush.

The 58-year-old Chavez had not appeared in public since his return, and his inauguration to a fourth term as president was delayed. Little information had been released on his condition.

On Monday night, CNN reported Information Minister Ernesto Villegas saying on national television that the President was having problems breathing ?related to the state of his depressed immune system.?

According to Wikipedia, Chavez announced on June 30, 2011 that he was recovering from an operation ?to remove an abcessed tumor with cancerous cells. He required a second operation in December 2012.?.

Chavez was seen as a leader of a ?Pink Tide? of 12 leftist and socialist leaders elected in Latin America since 1998. In addition, his friendship with the Castros in Cuba was seen as a slap in the face to Washington.

Venezuela?s oil revenue made it possible for him to help Cuba after the collapse of the Russian empire. Havana will be watching events in Caracas closely.

Foreign Affairs said Chavez was so weak that he had to be ?sedated before takeoff, and the plane flew at a low altitude to avoid compromising his delicate health and an ongoing respiratory problem. Upon his return, he was taken to the military hospital in Caracas. When he was safely in his room, messages went out on his Twitter account, thanking Cuba, Fidel and Raul Castro, Ch?vez? and to the people of Venezuela, "We have arrived again to Venezuela. Thank God. Thanks to my beloved country. Here we will continue treatment."

The country?s constitution calls for a special election to elect a successor if Chavez dies

Latin America as a whole is in much better shape than in the past, and there is no need for the US to support dictators to stop the spread of Russian communism.

Reuters says the Institute of International Finance reports the region ?outpaced other emerging market regions as a magnet for foreign capital in 2011 and 2012??

BBC Chavez Obituary

Source: http://www.allvoices.com/contributed-news/14173309-as-chavez-lays-dying-venezuela-expels-us-military-attaches

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Come Together Now

House Speaker John Boehner speaks to the media after a meeting with U.S. President Barack Obama at the White House, March 1, 2013 in Washington, DC. House Speaker John Boehner speaks to the media after meeting with President Obama at the White House. The GOP?s position isn?t really ?we?re done on revenue??it?s more like ?we?re done, unless the president convinces us not to be.?

Photo by Mark Wilson/Getty Images

Sequestration represents a kind of excellence in failure. Lawmakers in Washington couldn?t even design a sword of Damocles correctly. This is depressing, and suggests even the most basic tasks are beyond the reach of our lawmakers. As a result, a lot of people appear particularly glum, as if they gave up optimism for Lent. But what if you decided to embrace hope during the Easter season? Is there any evidence that there could be a rebirth of common sense and progress?

Such a pursuit would require a degree of faith, a reliance on things unseen and a belief in hope over experience. But there have also been some more concrete developments that might at least distract you from greater despair and doubt.

The first is purely procedural. This month, the president, House, and Senate will all present budgets as a part of the standard budget process. Washington getting back to its regular rhythm is no small thing. It represents a return to the central issues of the budget?taxes, spending, and investment?and distance from the blame game of sequestration politics. For Senate Democrats, who have shirked the formality of producing a budget for some time, this alone might seem miraculous.?

A return to normal business means there will be hearings and public debates about entitlements and closing loopholes. That might remove some suspicion from the process. The series of last-minute crisis bargaining?the holy trinity of the debt ceiling, fiscal cliff, and sequestration?make people feel like they?re being taken. Yes, any grand bargain will be worked out in a small room too, but if the issues have been aired in a formal way that might raise trust in an ultimate deal. (Warning: business-as-usual also means lobbyists and 100 interest groups will pick apart 100 different elements of any deal. Still this is progress: In a time of total dysfunction, regular dysfunction is preferable.)

Once the larger debate starts, the threshold questions for progress will be familiar: Will Republicans move off their no-taxes posture and will President Obama agree to changes in entitlement programs? Both are possible: Obama has endorsed entitlement changes in public and private?from raising the Medicare retirement age, to means testing it, to changing the formula for Social Security increases. Republicans agreed to $600 billion in revenue. The trick is really binding those two positions in the same deal.

Republicans were absolute in their opposition to replacing the sequestration cuts with tax revenue. That could be a sign of their unwavering resistance to the idea. But it might also have been the macho Republicans were required to show to build trust for a future accommodation.

GOP leaders probably needed to be a little extra macho on sequestration. Many influential Republicans believe that GOP lawmakers conceded to the president in the fiscal cliff and debt limit negotiations. In conversations with GOP aides, it was clear that their bosses believed the base wouldn?t tolerate another perceived surrender. Now at least the party?s leaders can refute the claim that they back down whenever Obama tries to pressure them. If there is ever going to be a grand bargain, GOP leaders will need to sell it to their rank-and-file. If nothing else, Republican leaders can make the pitch now without being shouted down.

We interrupt this story with a bulletin from reality. ?We?re done on revenue,? says one GOP aide about any future deal that would include tax revenue. So whatever imagined new trust there may be among the Republican rank-and-file and their leadership is irrelevant because leaders aren?t going to try to sell a deal that includes tax revenue.

Pessimists have a strong case, to be sure. Republicans held out for 22 years before they voted for a tax increase two months ago, and it?s a good bet they don?t want to do that again anytime soon. But the same GOP aides now saying that Republicans are ?done on revenue? once said the GOP-controlled House would never vote for a tax increase. In the end, that prediction was wrong. House Speaker John Boehner also said he wouldn?t agree to any debt limit increase that didn?t include an equal amount of spending reductions. That didn?t come to be either.

Source: http://feeds.slate.com/click.phdo?i=9556858358228647378580aa5ab2b0ad

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Wednesday, March 6, 2013

Cyber Combat: a look into the world of computer forensics | Alberta ...

A year ago Phil Fodchuk was called by a Calgary-based energy company which had detected the theft of corporate data from its computer network. Digging into the company?s systems, he traced it to a powerful virus that had begun infecting computers on a specific date and time. He could tell that a USB drive had been plugged into a laptop and that a PDF had been printed. ?That was ground zero of the infection that went to a couple of computers, then went dormant for four months, then activated and went to 14 more computers,? says Fodchuk, a computer forensics expert who spent more than a decade in computer crime divisions, first with the Calgary Police Service and then with the RCMP, before founding Urgentis Digital Crisis Solutions. ?So what happened at that date and time with that USB drive??

He had company executives comb their memories and their calendars. Before long, Fodchuk pieced the story together. There had been a meeting with a team of executives from a foreign company. During the meeting, one of the visitors said he had forgotten to print his PowerPoint presentation. He asked for a coffee break so he could get it printed from his thumb drive. One of the hosts plugged it into a company laptop and printed the presentation.

From there ? taking advantage of simple hospitality ? the virus dug deep into the company?s systems and a whack of data was stolen. ?We think it?s happening elsewhere, not here,? Fodchuk says of corporate espionage. ?But it?s happening here.?

Cyber-based economic espionage has become increasingly sophisticated, grown in frequency and scale and become a concern for governments, IT professionals and security services. Antiterrorist experts in the U.S. have added hacking and illicit use of the Internet to their list of weapons of mass destruction. The director of the FBI, Robert Mueller, has said threats from cyber-espionage will surpass terrorism as the number one threat facing the U.S. But those threats have not, by and large, been given the attention they deserve from industries and individual companies.

?Organizations are very reactive to attacks,? says Salim Hasham, a technology security consultant with PricewaterhouseCoopers. ?They?re not being proactive about this.? He says most organizations are still not prepared for the hyper-connected world in which we live. ?At no time in history have we been this connected and this interdependent,? he says. ?Not understanding the new threats puts organizations behind the curve in terms of protecting information.? Those new horizons are created by bits of code, the most malicious being labelled as ?advanced persistent threats,? or APTs. They?re custom code written for a specific purpose. They won?t be picked up by traditional antivirus tools or stopped by firewalls, and once in your system they can transmute and spread at will. ?In one recent case, an email was sent to employees that looked like it came from senior management,? Hasham says. ?When an employee clicked on a link, it dropped a piece of code, which opened a back door and the attacker was able to install five or six kinds of malicious code. If [the target company] discovers one, it sends a signal to activate another.?

Many Albertan companies are of particular interest to attackers because of the strategic importance of energy. Hasham says he has seen a rise in corporate espionage against energy companies in both Canada and the U.S., but you wouldn?t know it from their behaviour. ?I would say two things about [the oil industry],? he says. ?Companies in it tend to be even further behind the curve than those in most other industries with regards to the need for security, and there is a movement from hacking and controlling software to doing the same with hardware. The technology now exists to take over control of physical infrastructure ? pumps, valves, pipes and centrifuges.? The endgame for the attacker in these cases is either criminal blackmail or, more ominously, the attacker may be a foreign state testing its abilities to disrupt critical infrastructure.

It?s not that evidence of malice can?t be found. Hasham says the one common denominator in all cyber-attacks is that digital traces of the intrusion were present long before the target organization became aware of it. ?In general, organizations are breached somewhere between one and three years before anyone finds out,? Hasham says. A year ago, for example, it came to light that Nortel?s computer system had been breached for 10 years before anyone found out.

The Canadian Security Intelligence Service lists ?information security threats? as one of its priority areas and, most often, it or one of its foreign counterparts first alerts a company to a problem. Agents discover a company?s list of suppliers or other confidential information in some faraway place and let the company know. That?s when Fodchuk is called. ?We?ve commonly come in after that notification,? Fodchuk says, ?when the company is in a bit of a panic.?

Both Fodchuk and Hasham say there tends to be an uptick in espionage activity in the period leading up to a merger or acquisition. ?The acquiring company will want to know the real flow-through rates of [the target company?s] pipelines, and how many of their wellheads are active,? Fodchuk says. He points out that espionage is nothing new in the oil patch. It?s just that the techniques have progressed. ?Years ago a private eye would drive on a road near a wellhead and watch with binoculars to see how many times it went up and down, or they had listening equipment to try and hear the flow of gas.? The methods have migrated to the digital world, where the wellhead is connected to a computer feeding data to the company. ?Why drive out in the middle of nowhere if I can sit here and hack in??

Fodchuk is quick to point out that data theft is not always done through advanced intrusions by state actors and business competitors. Those attacks might get the notoriety, but Fodchuk says 80 per cent of the calls he receives have to do with in-house data theft. ?Your number one threat is still internal. It?s your disgruntled employees,? he says. ?Maybe they?re upset about not getting a bonus or a promotion. They steal either to sell or to set up their own boutique. A lot of times they?re setting up or joining a competitive company.? It could be as simple as an employee sending a bunch of emails to his or her personal account, or plugging a thumb drive into the company computer and running a backup process to save files to the device. In some cases a member of an activist group will infiltrate a company with the sole purpose of harvesting information.

The portion of incidents that are state-sponsored may be smaller, but it?s growing more quickly and is more sophisticated. Of the 20 per cent of calls relating to intrusions by competitors or foreign governments, ?almost all of them are valid concerns,? Fodchuk says. ?Something is being stolen. There is data leaving your company and going across the world.?

It?s difficult to determine the cost of cyber-crime to individual companies and to the broader economy because of a lack of reliable data, but the general consensus is that it is on the rise. One study done by Hewlett-Packard (which, as a vendor of antivirus software, has a specific agenda) suggests that, in the U.S., ?The occurrence of cyber-attacks has more than doubled over a three-year period, while the financial impact has increased by nearly 40 per cent.?

Hasham says the challenges of dealing with cyber-crime begin at the top, where senior managers have little understanding of the information owned by their organization. ?In most cases, senior management assume this is being taken care of by the IT folks,? he says. ?They don?t understand the data they have, its applicability or its criticality to the business, and that means they?re not setting the tone from the top in terms of methods of protecting it.?

Beyond leadership, Hasham says the solution lies in co-operation between intelligence agencies, government and industry. So far, that co-operation has been much more evident in the U.S. and the U.K. than it has in Canada. And within Canada, certain industries have been more active than others. ?Within the financial services industry in Canada, you get the regular meeting of chief security officers and risk officers to talk about their experiences,? he says. Alberta?s most important industry, however, hasn?t met the challenge. ?Within energy, you really don?t see the co-operation,? Hasham says.

Source: http://albertaventure.com/2013/03/cyber-combat/

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David Swensen and The Yale Model - Investment U

by Mike Kapsch, Investment U Research
Monday, March 4, 2013

David Swensen doesn?t have a household name like Warren Buffett or Jim Rogers. But he?s one the greatest investors of our time. Many even consider him the ?Babe Ruth? of endowment fund managers.

Since 1985, Swensen?s grown Yale University?s endowment from just over $1 billion to $19.3 billion. Over the last two decades, he?s generated returns of 13.7% per year. In comparison, other colleges and universities have only averaged gains of 8.7%.

Moreover, when Swensen started managing Yale?s endowment, it only supported 10% of the school?s annual budget. This was its lowest level in over a century. Today it covers over 30%. And that number is expected to grow.

Swensen developed an investing strategy that broke away from simply owning traditional U.S. stocks and bonds and promoted buying other asset classes, such as emerging markets, natural resources, and alternative investments in hedge funds and private equity funds.

But the problem with this was his strategy was intended only for large investors, like institutional investors and other endowment funds. So in 2005, Swenson released Unconventional Success. And it outlined six asset classes ordinary investors can plop their cash to take advantage of his Ivy League strategy.

Invest Like an Ivy Leaguer

Here?s a look at Swensen?s asset allocation recommendations:

Asset Class %
Domestic Stocks 30%
Foreign Developed Stocks 15%
Emerging Market Stocks 5%
Real Estate and Natural Resources 20%
U.S. Treasury Bonds 15%
U.S. Inflation-Protected Securities (TIPS) 15%

Like Investment U?s asset allocation model, many of these assets are non-correlated. That means they change in value as market trends change. For instance, right now domestic stocks are flirting near all-time highs once again. And every day they go higher, it seems gold prices go lower.

Swensen believes that if you?re an average investor, you?d be better off not trying to beat the markets and simply putting your money in index funds. In fact, in his book, he makes three recommendations. He suggests you diversify into the six asset classes above. He recommends you only rebalance your portfolio to the original weightings once or twice a year. He also suggests you make it a point to find low cost index-funds and exchange-traded funds (ETFs).

So what are some low cost index-funds and ETFs that you can look into right now?

Six Plays for a ?No-Hassle? Portfolio

MotifInvesting.com has a portfolio dedicated to Swensen?s strategy. It?s up 10% over the past year and provided a steady dividend yield of 3.1%. The portfolio currently holds:

  1. Vanguard Total Stock Market ETF (NYSE: VTI): This tracks the performance of U.S. stocks.
  2. Vanguard MSCI EAFE ETF (NYSE: VEA): This monitors European, Australasian, and Far Eastern markets.
  3. Vanguard MSCI Emerging Markets ETF (NYSE: VWO): This follows emerging markets found in the MSCI Emerging Markets index.
  4. Vanguard REIT Index ETF (NYSE: VNQ): This tracks the performance of U.S. real estate investment trusts.
  5. iShares Barclays 7-10 Year Treasury ETF (NYSE: IEF): This is directly tied to the price performance and yield of the mid-term sector of the U.S. Treasury market.
  6. iShares Barclays TIPS Bond ETF (NYSE: TIP): This replicates the inflation-protected sector of the U.S. Treasury market.

If you?re unfamiliar with investing, it may be in your best interest to consider investing in a diversified basket of ETFs that simply track the movements index funds. The truth is, most active portfolio managers should probably be doing the same thing as evidence shows index funds outperform actively managed mutual funds more times than they ever should.

Our very Alexander Green has developed his own ?set it and forget it? portfolio called The Gone Fishin? Portfolio. He wrote a book about it in 2003 and it quickly became a New York Times bestseller.

Like Swensen, Alex also likes the low-cost Vanguard funds, but the instruments and allocations are slightly different:

  1. Vanguard Total Stock Market Index (VTSMX) ? 15%
  2. Vanguard Small-Cap Index (NAESX) ? 15%
  3. Vanguard European Stock Index (VEURX) ? 10%
  4. Vanguard Pacific Stock Index (VPACX) ? 10%
  5. Vanguard Emerging Markets Index (VEIEX) ? 10%
  6. Vanguard Short-term Bond Index (VFSTX) ? 10%
  7. Vanguard High-Yield Corporates Fund (VWEHX) ? 10%
  8. Vanguard Inflation-Protected Securities Fund (VIPSX) ? 10%
  9. Vanguard REIT Index (VGSIX) ? 5%
  10. Vanguard Precious Metals Fund (VGPMX) ? 5%

Although the weightings and investments slightly vary, the idea is the same. You can be successful with almost no work by diversifying a collection of low-correlation, low-cost index funds, and only rebalancing about once per year.

Since its inception, the average gain of The Gone Fishin? Portfolio?s holdings is up an astounding 147%. And to think, all these funds do is follow the movements of index funds.

That?s about as hassle free as it gets.

So if you?re new to investing, this may be your best bet.

Good Investing,

Mike

David Swensen and The Yale Model, 5.0 out of 5 based on 1 rating

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Topics: David Swensen, NAESX, NYSE: IEF, NYSE: TIP, NYSE: VEA, NYSE: VNQ, NYSE: VTI, NYSE: VWO, The Gone Fishin? Portfolio, VEIEX, VEURX, VFSTX, VGPMX, VGSIX, VIPSX, VPACX, VTSMX, VWEHX, Yale University?s endowment

Source: http://www.investmentu.com/2013/March/david-swensen-and-the-yale-model.html

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