Money Lisa exhibition /?
Mondo Pop, Rome, Italy
This is a collaboration between me and David Chiesa of Logical Art for the Money Lisa exhibition, (Mondo Pop Art Gallery, Rome, Italy). Every visual artist involved had been asked to re-make and modify the original monna lisa painting. This is what we did, the concept behid this is quite simple: after more than 500 hundred years, the good old monna lisa might be not that young anymore?just slightly older?don?t you think so??
The San Jose Mercury News notes that it's Silicon Valley's first tech IPO of the year.
Xoom was cofounded in 2001 by CEO John Kunze and Kevin Hartz, who's now cofounder of Eventbrite, a ticketing startup.
Hartz was an early investor in PayPal, and the company has other connections to the so-called "PayPal mafia"?a group of early employees and executives who have gone on to start or run other tech startups like Yelp, YouTube, Slide, Yammer, and others.
For example, Keith Rabois, who recently resigned as Square's COO, joined Xoom's board of directors in 2003.
Xoom says its fees are lower than those typically charged by banks and money transmitters for overseas transfers.
Xoom, which filed for its IPO last year, has been expected to kick off a busy year for public offerings. Investment banks, led by Goldman Sachs and Morgan Stanley, have been busily courting private companies seen as ready for the public markets.
Dropbox, the file-sharing service, is considering an IPO, for example.
Source: http://www.businessinsider.com/xoom-ipo-2013-2
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Finola Hughes has called the upcoming 50th anniversary of "General Hospital" a "really sweet" moment."I think the fact that we, at 'GH,' are doing so well right now, and to enter into our 50th anniversary on such a high, it feels really sweet," the actress, who plays Port Charles Police Chief Anna Devane, told Access Hollywood, when asked about the daytime drama's impending anniversary.
Source: http://news.yahoo.com/tata-motors-shares-fall-q3-earnings-drop-042107303--finance.html
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Source: http://online.wsj.com/article/SB10001424127887324432004578305453572408918.html?mod=rss_about_china
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Thanks to an unfettered quantitative easing policy of the Federal Reserve combined with ultra-low interest rates, it appears that the U.S. economy has finally averted a major crisis. This massive intervention is unprecedented in U.S. economic history. No one really knows whether it will successfully serve to kick the economy into high gear so that the cash infusions can be scaled back or will only serve to create the next crisis.
As I wrote in this introductory article, no one knows for certain what the future holds. The only sure thing is that diversification into various "crisis-proof" asset classes is the smartest move.
Two of the most popular crisis investments, gold and oil, are known to stand strong during an economic crisis. (more)
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Source: http://totalinvestor.blogspot.com/2013/02/crisis-investing-101-everything-you.html
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WASHINGTON (Reuters) - Senate Majority Leader Harry Reid accused Republicans on Thursday of putting the country at risk by trying to delay a vote to confirm Chuck Hagel as President Barack Obama's new secretary of defense.
"For the sake of our national security it is time for us to put aside political theater," Reid said.
The Nevada Democrat made an impassioned appeal for Hagel's confirmation amid questions over whether he could get the 60 votes needed to overcome roadblocks preventing a vote.
Reid accused Republicans of trying to score political points by coming up with one reason after another to delay confirmation of a new Pentagon chief, including for the first time ever using the blocking tactic known as a filibuster to prevent a vote.
If confirmed, Hagel would replace retiring defense secretary Leon Panetta.
Democrats, who have remained united in support of Hagel, a former Republican senator from Nebraska, control 55 seats in the 100-member Senate and could confirm Hagel without any Republican backing. A Cabinet nominee requires the support of only a simple majority to be confirmed.
However, they need the support of 60 senators to clear the procedural hurdles and allow the vote.
Hagel broke from his party as a senator by opposing former President George W. Bush's handling of the Iraq War, angering many of his Republican colleagues. Some members of his party have also raised questions about whether Hagel, 66, is sufficiently supportive of Israel, tough enough on Iran or capable of leading the Pentagon.
Earlier, two Republicans had said they would vote for Hagel and several others said they would oppose procedural hurdles, but those votes may not have held as bitter battling over Obama's nominee have continued.
A senior Senate Democratic aide said Republicans had informed Democratic leaders that there were not enough Republicans willing to join the Democrats to yield the 60 votes needed to allow the vote to go through.
A senior Republican aide said it was not clear if enough Republicans would cross the aisle to join the Democrats.
A White House spokesman said Obama still stands strongly behind Hagel, and said the "unconscionable" delay does not send a favorable signal to allies or U.S. troops.
(Editing by Doina Chiacu)
Source: http://news.yahoo.com/democrats-pave-way-senate-showdown-hagel-000522418.html
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In this image taken from video provided by KABC-TV, the cabin in Big Bear, Calif. where ex-Los Angeles police officer Christopher Dorner is believed to be barricaded inside is in flames Tuesday, Feb. 12, 2013. (AP Photo/KABC-TV) MANDATORY CREDIT: KABC-TV
In this image taken from video provided by KABC-TV, the cabin in Big Bear, Calif. where ex-Los Angeles police officer Christopher Dorner is believed to be barricaded inside is in flames Tuesday, Feb. 12, 2013. (AP Photo/KABC-TV) MANDATORY CREDIT: KABC-TV
Los Angeles Police Commander Andrew Smith, second from left, expresses condolences for the death of a San Bernardino County deputy, as he briefs the media about the shootout scene in Big Bear that allegedly involves triple-murder suspect Christopher Jordan Dorner, during a late news conference in front of the Police Administration Building in Los Angeles, Tuesday, Feb. 12, 2013. Lt. Bill Whalen, of the Irvine Police Department, far left, and LAPD Officer Norma Eisenman, right, stand with Smith. (AP Photo/Damian Dovarganes)
Los Angeles Police Commander Andrew Smith, left, expresses condolences for the death of a San Bernardino County deputy, as he briefs the media about the shootout scene in Big Bear that allegedly involves triple-murder suspect Christopher Jordan Dorner, during a late news conference in front of the Police Administration Building in Los Angeles, Tuesday, Feb. 12, 2013. Lt. Bill Whalen, of the Irvine Police Department, middle and LAPD officer Norma Eisenman, right, stand with Smith. (AP Photo/Damian Dovarganes)
Cindy Bachman, public information officer for the San Bernardino County Sheriff's Department, talks about the hunt for accused killer and fired Los Angeles police Officer Christopher Dorner in Angelus Oaks, Caif., Tuesday, Feb. 12, 2013. (AP Photo/Chris Carlson)
A Redlands Police officer walks near a road blockade near the entrance to the San Bernardino National Forest in southern California after Christopher Dorner, a fugitive ex-Los Angeles cop sought in three killings, engaged in a shootout with authorities that wounded two officers in the San Bernardino Mountains near Big Bear Lake, Tuesday, Feb. 12, 2013. (AP Photo/The Sun, Gabriel Luis Acosta) VENTURA COUNTY STAR OUT; RIVERSIDE PRESS-ENTERPRISE OUT; THE VICTOR VALLEY DAILY PRESS OUT
YUCAIPA, CA - FEBRUARY 12: Redlands police officers secure at a blockade during a manhunt for the former Los Angeles Police Department officer Christopher Dorner who is suspected of triple murder on February 12, 2013 in Yucaipa, California. Dorner barricaded himself in a cabin near Big Bear, California and is in a standoff with authorities after shooting two police officers, killing one and wounding the other. Dorner, a former Los Angeles Police Department officer and Navy Reserve veteran, is wanted in connection with the deaths of an Irvine couple and a Riverside police officer. (Photo by Kevork Djansezian/Getty Images)
Shantel Cardiel (L) and Frank Cardiel hold up signs in support of fugitive triple murder suspect Christopher Dorner along the road in San Bernardino, California n February 12, 2013. Fugitive former US cop Christopher Dorner exchanged gunfire with police near a Californian ski resort where his burnt-out truck was found, reports said. The 33-year-old was involved in the shooting after he tried to burglarize a home near Big Bear, two hours east of Los Angeles, the Los Angeles Times reported, citing a law enforcement source. ? AFP PHOTO / David McNew (Photo credit should read DAVID MCNEW/AFP/Getty Images)
Shantel Cardiel holds up a sign in support of fugitive triple murder suspect Christopher Dorner along the road in San Bernardino, California n February 12, 2013. Fugitive former US cop Christopher Dorner exchanged gunfire with police near a Californian ski resort where his burnt-out truck was found, reports said. The 33-year-old was involved in the shooting after he tried to burglarize a home near Big Bear, two hours east of Los Angeles, the Los Angeles Times reported, citing a law enforcement source. ? AFP PHOTO / David McNew (Photo credit should read DAVID MCNEW/AFP/Getty Images)
ANGELUS OAKS, CA - FEBRUARY 12: A San Bernardino Sheriff's Department deputy watches as a car is towed away after a standoff and a shootout with former Los Angeles Police Department officer Christopher Dorner who is suspected of triple murder on February 12, 2013 in Angelus Oaks, California. Dorner barricaded himself in a cabin near Big Bear, California which later caught fire. According to the LAPD the cabin remains too hot to enter and a body has not been located. (Photo by Kevork Djansezian/Getty Images)
Law Enforcement personnel gear up along Hwy 38 during the hunt for accused killer and fired Los Angeles police officer, Christopher Dorner in Yacaipa, Caif.,Tuesday, Feb. 12, 2013. Dorner, a man police believe to be the fugitive ex-Los Angeles officer wanted in three killings, was barricaded inside a burning cabin Tuesday after a shootout in a California mountain town that left one deputy dead and another wounded. (AP Photo/Chris Carlson)
Los Angeles Police Commander Andrew Smith, left, briefs the media about the shootout scene in Big Bear that allegedly involves triple-murder suspect Christopher Jordan Dorner, during a news conference in front of the Police Administration Building in Los Angeles Tuesday, Feb. 12, 2013. (AP Photo/Damian Dovarganes)
A Redlands Police officer inspects a vehicle near the entrance to the San Bernardino National Forest, Calif. after fugitive ex-Los Angeles cop Christopher Dorner, sought in three killings, is believed to have engaged in a shootout with authorities that wounded two officers in the San Bernardino Mountains near Big Bear Lake, Tuesday, Feb. 12, 2013. (AP Photo/The Sun, Gabriel Luis Acosta) LA TIMES; VENTURA COUNTY STAR; RIVERSIDE PRESSENTERPRISE; THE VICTOR VALLEY DAILY PRESS OUT MANDATORY CREDIT
Law Enforcement personnel block Hwy 38 during the hunt for accused killer and ex-Los Angeles police officer Christopher Dorner in Yacaipa, Caif., Tuesday, Feb. 12, 2013. Dorner is believed to be barricaded in a cabin Tuesday after a furious gunbattle with police in the snow-covered mountains of Southern California, authorities said, the culmination of an intensive manhunt that left a region an edge for nearly a week. (AP Photo/Chris Carlson)
Law Enforcement personnel search a vehicle along Hwy 38 during the hunt for accused killer and ex-Los Angeles police officer Christopher Dorner in Yacaipa, Caif., Tuesday, Feb. 12, 2013. Dorner is believed to be barricaded in a cabin Tuesday after a furious gunbattle with police in the snow-covered mountains of Southern California, authorities said, the culmination of an intensive manhunt that left a region an edge for nearly a week. (AP Photo/Chris Carlson)
Los Angeles Police Commander Andrew Smith, right, briefs the media about the shootout scene in Big Bear that allegedly involves triple-murder suspect Christopher Jordan Dorner, during a news conference in front of the Police Administration Building in Los Angeles Tuesday, Feb. 12, 2013. At left, Lt. Bill Whalen of the Irvine Police Department.
A Redlands Police officer walks near a road blockade near the entrance to the San Bernardino National Forest in southern California near Big Bear Lake, Tuesday, Feb. 12, 2013.
Redlands Police officers man a blockade near the entrance to the San Bernardino National Forest in southern California after Christopher Dorner engaged in a shootout with authorities that wounded two officers in the San Bernardino Mountains near Big Bear Lake, Tuesday, Feb. 12, 2013.
Members on the California Highway Patrol search a truck for Christopher Dorner on Friday, Feb. 8, 2013, in Big Bear Lake, Calif.
A San Bernardino County Sheriff SWAT team returns to the command post at Bear Mountain near Big Bear Lake, Calif. after searching for Christopher Jordan Dorner on Friday, Feb. 8, 2013. Search conditions have been hampered by a heavy winter storm in the area. Dorner, a former Los Angeles police officer, is accused of carrying out a killing spree?because he felt he was unfairly fired from his job. (AP Photo/Pool, The Inland Valley Daily Bulletin, Will Lester)
A police vehicle patrols the streets of Big Bear Lake, Calif., Saturday, Feb. 9, 2013. Clear skies allowed aircraft with heat-sensing technology to aid scores of officers searching in the snow-covered San Bernardino Mountains for Christopher Dorner, the former Los Angeles police officer suspected of killing three people in a vengeance-fueled rampage aimed at those he blames for ending his career. (AP Photo/Jae C. Hong)
San Bernardino County Sheriff's officer Bernabe Ortiz holds a pistol as he searches a home for former Los Angeles police officer Christopher Dorner in Big Bear Lake, Calif, Sunday, Feb. 10, 2013. The hunt for the former Los Angeles police officer suspected in three killings entered a fourth day in snow-covered mountains Sunday, a day after the police chief ordered a review of the disciplinary case that led to the fugitive's firing and new details emerged of the evidence he left behind. (AP Photo/Jae C. Hong)
San Bernardino County Sheriff's officers Ken Owens, center, and Bernabe Ortiz search a home for former Los Angeles police officer Christopher Dorner in Big Bear Lake, Calif, Sunday, Feb. 10, 2013. The hunt for the former Los Angeles police officer suspected in three killings entered a fourth day in snow-covered mountains Sunday, a day after the police chief ordered a review of the disciplinary case that led to the fugitive's firing and new details emerged of the evidence he left behind. (AP Photo/Jae C. Hong)
San Bernardino County Sheriff's officer Ken Owens searches a home for the former Los Angeles police officer Christopher Dorner in Big Bear Lake, Calif, Sunday, Feb. 10, 2013. The hunt for the former Los Angeles police officer suspected in three killings entered its fourth day in the snow-covered mountains on Sunday, a day after the police chief ordered a review of the disciplinary case that led to the fugitive's firing and new details emerged of the evidence he left behind. (AP Photo/Jae C. Hong)
California Highway Patrol officers search a truck for former Los Angeles police officer Christopher Dorner at a checkpoint near Big Bear Lake, Calif, Friday, Feb. 8, 2013. Law enforcement officers working in falling snow searched the Southern California mountain for Dorner, who is accused of carrying out a killing spree because he felt he was unfairly fired from his job. (AP Photo/Jae C. Hong)
A San Bernardino County Sheriff SWAT team returns to the command post at Bear Mountain near Big Bear Lake, Calif.
A San Bernardino County Sheriff SWAT team returns to the command post at Bear Mountain near Big Bear Lake, Calif. after searching for Christopher Jordan Dorner on Friday, Feb. 8, 2013. Search conditions have been hampered by a heavy winter storm in the area.
U.S. Forest Service Law Enforcement vehicles are covered in snow near the command post in Big Bear Lake, Calif, Friday, Feb. 8, 2013.
U.S. Marshals deputies look behind the vegetation as they stand on guard outside the home of the mother of fugitive suspect Christopher Dorner on Friday, Feb. 8, 2013.
This image shows Christopher Dorner from Jan. 28, 2013 surveillance video at an Orange County, Calif., hotel.
A digital billboard along Santa Monica Boulevard on the west side of Los Angeles shows a "wanted" alert on Friday, Feb. 8, 2013.
California Highway Patrol officers search a vehicle for former Los Angeles police officer Christopher Dorner at a checkpoint near Big Bear Lake, Calif, Friday, Feb. 8, 2013.
A California Highway Patrol officer tells a driver to roll the window at a checkpoint near Big Bear Lake, Calif, Friday, Feb. 8, 2013.
San Bernardino County Sheriff's deputies gather at the command post in Big Bear Lake, Calif, Saturday, Feb. 9, 2013. Clear skies allowed aircraft with heat-sensing technology to aid scores of officers searching in the snow-covered San Bernardino Mountains for Christopher Dorner, the former Los Angeles police officer suspected of killing three people in a vengeance-fueled rampage aimed at those he blames for ending his career. (AP Photo/Jae C. Hong)
San Bernardino County Sheriff's deputies board a snow cat at the command post in Big Bear Lake, Calif., Saturday, Feb. 9, 2013.
A San Bernardino County Sheriff's helicopter flies over Big Bear Lake, Calif., Saturday, Feb. 9, 2013.
A U.S. Forest Service Law Enforcement officer follows tracks left in the snow while searching a home for former Christopher Dorner in Big Bear Lake, Calif, Saturday, Feb. 9, 2013. Clear skies allowed aircraft with heat-sensing technology to aid scores of officers searching in the snow-covered San Bernardino Mountains.
San Bernardino Sheriff's Department officer Steven Spagon mans a check point during the search in Big Bear Lake, Calif. Friday, Feb. 8, 2013. Law enforcement officials spent all night searching the snowy mountains of Southern California.
Los Angeles County Sheriff's deputies stand alert outside the Twin Towers jail, which was put on lockdown after an alleged sighting of suspect Christopher Jordan Dorner Friday Feb. 8, 2013 in Los Angeles. The lockdown was later lifted. Law enforcement officers worked through the night amid an incoming snow storm searching for the former Los Angeles police officer accused of carrying out a killing spree because he felt he was unfairly fired from his job.
Cindy Bachman, public information officer for the San Bernardino Sheriff's Department, updates the media on the search for fired Los Angeles police officer, Christopher Dorner.
This undated series of photos shows suspect Christopher Dorner. Dorner, who was fired from the LAPD in 2008 for making false statements, is linked to a weekend killing in which one of the victims was the daughter of a former police captain who had represented him during the disciplinary hearing.
This undated photo released by the Los Angeles Police Department shows suspect Christopher Dorner, a former Los Angeles officer. Dorner, who was fired from the LAPD in 2008 for making false statements, is linked to a weekend killing in which one of the victims was the daughter of a former police captain who had represented him during the disciplinary hearing. Authorities believe Dorner opened fire early Thursday on police in cities east of Los Angeles, killing an officer and wounding another. Police issued a statewide "officer safety warning" and police were sent to protect people named in the posting that was believed to be written by Dorner. (AP Photo/Los Angeles Police Department)
This undated photo shows suspect Christopher Dorner. (AP Photo/Los Angeles Police Department)
This undated photo shows suspect Christopher Dorner. Police issued a statewide "officer safety warning" and police were sent to protect people named in the posting that was believed to be written by Dorner.
Here, former Los Angeles police officer Christopher Jordan Dorner is shown. Dorner is a suspect in the killings of Monica Quan and her fiance, Keith Lawrence.
Los Angeles police Chief Charlie Beck, right, comments on fired officer, Christopher Dorner, Dorner's multiple weapons, including an assault rifle, during a news conference at the LAPD headquarters in Los Angeles Thursday, Feb. 7, 2013.
Los Angeles Police Public Information officers: Sara Faden, left, and Officer Norma Eisenman carry photos of suspect Christopher Dorner during a news conference at the LAPD headquarters in Los Angeles Thursday, Feb. 7, 2013. At left, Assistant Chief Sandy Jo MacArthur.
Corona, Calif., Police officers stand near the site of a police shooting Thursday Feb. 7, 2013 in Corona, Calif.
A burned-out pickup truck belonging to ex-Los Angeles police officer Christopher Dorner is towed after it was discovered in Big Bear, Calif, Thursday, Feb. 7, 2013.
A bullet-damaged Los Angeles Police vehicle is taped off by police on Thursday Feb. 7, 2013 in Corona, Calif.
A Los Angeles Police officer checks his weapon at the site of a shooting Thursday Feb. 7, 2013 in Corona, Calif.
Source: http://www.huffingtonpost.com/2013/02/14/karen-jim-reynolds-chris-dorner_n_2683160.html
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Mike Krzyzewski turned 66 on Wednesday night, a reminder that his days at Duke are measured in years, not decades. Dean Smith, after all, walked away from North Carolina at the same age.
So these are days to be treasured at Duke. Krzyzewski already has four NCAA titles and may win another, but his reign won't last forever. Those high school seniors who got their acceptances to Duke may finish their college years with a different man on the bench at Cameron Indoor Stadium.
So there was an important lesson buried inside the chaos of Cameron Wednesday night, and it was this ? Duke is one team with Ryan Kelly in the lineup, and another with him on the bench. Duke is too thin up front, and too dependent on three-pointers, to make a real run for the NCAA title with Kelly out of the fold.
When Kelly, who played at Ravenscroft in Raleigh, will return from a right foot injury is uncertain. It was telling that Krzyzewski, when asked about the impact of the loss of Kelly Wednesday night, opened his response by saying "if" Kelly is back.
He hasn't played since Jan. 8 against Clemson and could be weeks away. Duke fans don't have to think back long to remember the most famous toe in Devils history, as Kyrie Irving's injury lingered.
Duke wasn't the same team when Irving returned in the 2011 NCAA Tournament. The Devils looked tentative on the floor and lost to Arizona in NCAA play too early for the talent they had.
In some situations, injuries have benefited Duke. In 1992, Bobby Hurley suffered a foot injury and Grant Hill moved to point guard. After Hurley returned, the confident Hill gained in handling the ball was vital to success. Hill, for example, played with tremendous poise in the epic Final Eight victory over Kentucky that led to the national title.
In 2001, Carlos Boozer suffered an injury that looked devastating to Duke's NCAA chances. But Krzyzewski and his staff re-invented the team with Boozer out. Once Boozer returned, Duke was already rocketing toward the NCAA title.
This year? Hard to say. ?Even Krzyzewski was realistic about where this team stands despite its No. 2 ranking.
"We've been able not to let our ship sink," Krzyzewski said. "So some of this since Ryan has been out is survival."
This situation, Krzyzewski said, is different than previous ones when Duke faced an injury because the Devils don't have the depth of talent of past teams.
"When Boozer went out, you still had Williams, Battier, Dunleavy, Duhon. We don't have that," Krzyzewski said.
"He [Kelly] is just a key guy. So who we are goes down significantly ? significantly."
That was evident Wednesday. Give Carolina credit for a gritty performance, and the wisdom to play a smaller, quicker lineup that matched up with Duke.
But the absence of Kelly was the reason Carolina could go that route. It's not just Kelly's scoring and rebounding that Duke misses, but the smaller contributions, like his willingness to set screens, that make a difference on the floor.
And when he'll be back is uncertain.
"We think he'll be back,but we're not completely sure," Krzyzewski said. "There's no timeframe."
There's no time frame for how long Krzyzewski will coach at Duke, either.? Three years? Four years? Who knows?
This much is clear ? without Ryan Kelly, Duke's chance of snatching its fifth national title this season is remote.
Source: http://www.nbcnews.com/id/50810861/ns/local_news-raleigh_nc/
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TRENTON, N.J. (AP) ? Merck & Co. has agreed to pay $688 million to settle two long-running lawsuits brought by investors who alleged the drugmaker delayed releasing bad news on its blockbuster cholesterol drugs to prevent a drop in sales.
Merck, the world's third biggest drugmaker by revenue, said Thursday that it agreed to the settlement because it's in the best interest of the company and current shareholders. It is taking a charge of nearly a half-billion dollars against 2012 earnings.
The delay in releasing results of a study that was meant to bolster sales of pricey cholesterol pills Zetia and Vytorin triggered criticism by analysts, investors, some scientists and the media ? and ultimately an investigation by Congress.
The maker of Januvia Type 2 diabetes pills and the Gardasil vaccine against sexually transmitted cancers admitted no wrongdoing. The deal must be approved by a federal judge.
"The settlement gets a cloud out of the sky for Merck," said Erik Gordon, an analyst and professor at University of Michigan's Ross School of Business.
The settlement is among the top 25 securities class action settlements ever, according to Bernstein Litowitz Berger & Grossmann LLP, co-lead counsel in the litigation brought by a number of large pension funds.
Merck, which is based in Whitehouse Station, N.J., said in a statement that it's taking a charge of $493 million. The company also restated previously reported financial results, reducing its 2012 fourth-quarter results to 30 cents per share from 46 cents per share, and its 2012 results to $2 per share from $2.16 per share.
Merck shares fell 13 cents to $41.02 in afternoon trading. They have traded in a 52-week range of $36.91 last March to $48 in mid-October.
Merck and its then-partner Schering-Plough, which it later acquired, for about two years had delayed disclosing results of the study, known by the acronym ENHANCE. It tested how well Vytorin and Zetia reduced plaque buildup in neck arteries of patients with high cholesterol. The drugs had already been on the market for a few years, and together generated billions in annual sales for the two New Jersey drugmakers, racking up a combined $5.2 billion in 2007 alone.
The study was intended to give the pills a bigger edge over rival medicines in the huge market for cholesterol drugs, by showing that besides reducing bad, or LDL cholesterol, the pills prevented it from clogging arteries ? and presumably from causing heart attacks and strokes. But imaging of neck arteries of ENHANCE study participants showed that Zetia and Vytorin, which combines Zetia with a generic version of Merck's older cholesterol pill Zocor, didn't work any better than cheap generic Zocor did alone.
When Merck in early 2008 finally released the ENHANCE study results, Merck stock tumbled, causing big losses for investors, and sales of the two pills declined in the U.S.
Bernstein Litowitz, Grant & Eisenhofer and other law firms representing pension funds in the U.S. and elsewhere that held Merck and Schering-Plough stock then filed suits against each of the companies. Under the settlement agreement, Schering-Plough, which became part of Merck in 2009, will pay $473 million, and Merck will pay $215 million. A Merck spokesman said the company expects insurance to cover part of the total, reducing Merck's liability to the $493 million for which it's taking a charge.
Edward Jones analyst Judson Clark said the settlement is "largely a non-issue for long-term equity investors."
However, he added, "The combined number was probably a little higher than many investors were expecting and that's reflected in today's price movement."
Merck said in a statement that "numerous clinical trials conducted over the years have demonstrated a strong relationship between lowering LDL cholesterol and reduced risk of cardiovascular morbidity and mortality."
It added that its ongoing IMPROVE-IT study, an 18,000-patient study of Vytorin, should answer the question of whether lowering LDL cholesterol to very low levels with Vytorin could reduce heart attacks and strokes more than generic Zocor alone could do.
However, during a conference call two weeks ago to review fourth-quarter results, Merck executives would not reassure nervous analysts that the IMPROVE-IT study will show that benefit. Merck stressed then that it has numerous drugs in late-stage development and plans this year to file for approval of five of them. Still, two analysts quickly downgraded their ratings on its shares, one from "Hold" to "Sell" and the other from "Buy" to "Hold."
Analyst Les Funtleyder, a health care strategist at private equity fund Poliwogg, said the settlement news "will get lost in concern over" Merck saying recently that it will delay for about a year plans to apply for approval of a crucial new osteoporosis drug, odanacatib, while it waits for additional study results.
The settlement comes less than three weeks before the case was to come to trial. It had been scheduled to begin on March 4, before U.S. District Judge Dennis M. Cavanaugh in Newark, who must approve the settlement.
______
Linda A. Johnson can be followed at http://twitter.com/LindaJ_onPharma
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Feb. 14, 2013 ? Nitric oxide, the versatile gas that helps increase blood flow, transmit nerve signals, and regulate immune function, appears to perform one more biological feat -- prolonging the life of an organism and fortifying it against environmental stress, according to a new study.
The study reveals that a roundworm called Caenorhabditis elegans, an animal widely used in laboratory studies of aging, lives significantly longer when fed bacteria capable of manufacturing nitric oxide. The tantalizing observation points to one of the mechanisms by which the microbiome, the trillions of microbial cells inhabiting our bodies, may play a vital role in our health.
Our own nitric oxide levels decrease as we get older, a decline that may contribute to normal aging, says Evgeny Nudler, PhD, the Julie Wilson Anderson Professor of Biochemistry at NYU Langone Medical Center, who led the new study. Supplemental bacteria, he speculates, might provide a healthy boost by supplying humans with some of the missing compound.
"In worms, we now know that bacteria can use nitric oxide not only to their own advantage but also to provide their host with a beneficial response, and the same thing could be true in a human gut," says Dr. Nudler. "It may well be the case that our commensal bacteria control some of our genes, at least in the gut, to protect those cells against stress and age-related decline." Commensal bacteria provide a benefit to the organisms they colonize.
Although humans and many other organisms have the enzyme needed to produce nitric oxide, C. elegans does not. Instead, Dr. Nudler and his team report in the February 14th online issue of Cell that the worm can "hijack" the compound from the soil-dwelling Bacillus subtilis bacterium that is not only a favored food but also a common colonist within its gut. This resourcefulness, Dr. Nudler says, partially explains why worms fed B. subtilis live roughly 50 percent longer than counterparts fed Escherichia coli, which does not produce the compound.
In the new study, the average C. elegans lifespan increased by nearly 15 percent, to about two weeks, when researchers fed the worms nitric oxide-producing B. subtilis bacteria, compared to worms fed mutant B. subtilis with a deleted nitric oxide production gene. The research group also used fluorescent sensors to show that C. elegans does not make its own nitric oxide gas. When the worms were fed normal B. subtilis bacteria, however, the fluorescent signal appeared in their guts.
Fluorescent labeling and other tests also demonstrated that B. subtilis-derived nitric oxide penetrated the worms' tissues, where it activated a set of 65 genes. Some had been previously implicated in stress resistance, immune response, and increased lifespan, though others have unknown functions. Importantly, the researchers showed that two well-known regulatory proteins were essential for activating all of the genes.
"What we found is that nitric oxide gas produced in bacteria inside the worms diffuses into the worm tissue and activates a very specific set of genes acting through two master regulators, hsf-1 and daf-16, resulting in a high resistance to stress and a longer life," Dr. Nudler says. "It's striking that a small molecule produced by one organism can dramatically affect the physiology and even lifespan of another organism through direct cell signaling."
As part of nitric oxide's expansive repertoire, Dr. Nudler's lab previously showed how dangerous pathogens can exploit the molecule to fight off antibiotics. Despite its versatility, the new research suggests that nitric oxide is only one of multiple beneficial molecules produced by B. subtilis, Dr. Nudler says. His lab plans to look more closely at other potential mechanisms by which commensal bacteria can promote health and longevity, using the powerful and easily manipulated C. elegans system as a model.
The study co-authors include Ivan Gusarov, Laurent Gautier, Olga Smolentseva, and Ilya Shamovsky from the Department of Biochemistry and Molecular Pharmacology at NYU Langone Medical Center; and Svetlana Eremina and Alexander Mironov from the State Research Institute of Genetics and Selection of Industrial Microorganisms in Moscow, Russia.
The research was supported by the National Institutes of Health, the Biogerontology Research Foundation, and the Dynasty Foundation.
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Source: http://feeds.sciencedaily.com/~r/sciencedaily/top_news/~3/ibVgvxDP1_4/130214132623.htm
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'Best Thing I Never Had' singer passes along some advice to MTV News that might just snag you a BF on the candy-coated holiday.
By Rebecca Thomas
Beyoncé
Photo: MTV News
Source: http://www.mtv.com/news/articles/1701978/valentines-day-beyonce-advice.jhtml
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FILE - In this March 2, 2011 file photo, Heinz ketchup is seen on the shelf of a market in Barre, Vt. H.J. Heinz Co. says it agreed to be acquired by an investment consortium including billionaire investor Warren Buffett in a deal valued at $28 billion. (AP Photo/Toby Talbot, File)
FILE - In this March 2, 2011 file photo, Heinz ketchup is seen on the shelf of a market in Barre, Vt. H.J. Heinz Co. says it agreed to be acquired by an investment consortium including billionaire investor Warren Buffett in a deal valued at $28 billion. (AP Photo/Toby Talbot, File)
NEW YORK (AP) ? Billionaire Warren Buffett is dipping into the ketchup business as part of a $23.3 billion deal to buy H.J. Heinz Co., uniting a legend of American investing with a mainstay of grocery store shelves.
It's the largest deal ever in the food industry and is intended to help Heinz accelerate its transformation into a global business. The company, based in Pittsburgh, also makes Classico pasta sauces, Ore-Ida potatoes and Smart Ones frozen meals.
Buffett's Berkshire Hathaway and its partner on the deal ? 3G Capital, the investment firm that bought Burger King in 2010 ? say Heinz will remain headquartered in Pittsburgh.
Heinz CEO William Johnson said at a news conference that taking the company private would give Heinz the flexibility to make decisions more quickly, without the burden of having to report quarterly earnings.
Heinz was founded by Henry John Heinz and his neighbor L. Clarence Noble in 1869. Their first product was grated horseradish, bottled in a clear glass to showcase its purity. The first ketchup was introduced in 1876; the company says it was the country's first commercial grade ketchup.
Last year, Heinz had sales of $11.6 billion, with ketchup and sauces accounting for just under half of that. Given the saturated North American market, it has increasingly been looking overseas for growth. In 2010, for example, the company bought Foodstar, which makes Master brand soy sauce and fermented bean curd in China. Heinz expects emerging markets to account for a quarter of the company's sales this year.
At a press conference following the announcement, Johnson said the deal got under way eight weeks ago when managing partners from 3G Capital visited him for lunch. The men were familiar with each other because Heinz is a supplier for Burger King.
"We did not solicit this," Johnson noted. "They came to me."
Buffett said on CNBC this morning that 3G's billionaire co-founder Jorge Lemann approached him about the Heinz deal on a plane they were on in early December.
Johnson stressed that Heinz would remain in Pittsburgh, noting that the condition that was part of the deal. He said the only changes the city should see as a result would be that Heinz would no longer be listed in the stock pages of newspapers.
As for management changes, including his own tenure, Johnson said there hadn't yet been any discussions.
Although 3G Capital has a record of aggressively cutting costs at businesses it acquires, managing partner Alex Behring noted at the press conference that Heinz is different because the business is healthy and has been growing its core sales.
Buffett did not immediately respond to a message from The Associated Press on Thursday. But he has recently said that he's been hunting for elephant-sized deals. Buffett said on CNBC that Berkshire had about $47 billion in cash available at the end of last year.
Heinz's brands have power with shoppers that takes years to create and it has been able to raise prices even in the highly competitive grocery business, said Brian Sozzi, chief equities analyst for NBG Productions.
"There isn't going to be another Heinz brand," he said. "It has a durable competitive advantage."
The deal is a departure for Buffett's investment firm, Berkshire Hathaway. Generally, Buffett prefers to buy entire companies and then allow the businesses to continue operating much the way they were before. Berkshire has also helped finance deals before ? most recently during the financial crisis of 2008, when he made lucrative deals for Berkshire when few other companies had cash.
Berkshire's biggest acquisition ever was its $26.3 billion purchase of BNSF railroad in 2010. Before that, it was the $16 billion stock purchase of reinsurance giant General Re in 1998.
Heinz shareholders will receive $72.50 in cash for each share of common stock they own. The transaction value includes the assumption of Heinz's debt. Based on Heinz's number of shares outstanding, the deal is worth $23.3 billion excluding debt.
The per-share price for the deal represents a 20 percent premium to Heinz's closing price of $60.48 on Wednesday. Heinz said the deal was unanimously approved by its board. Buffett said on CNBC that Berkshire is putting $12 billion to $13 billion into the deal.
"It's our kind of company," Buffett said in the interview, noting its signature ketchup has been around for more than a century. "I've sampled it many times."
The deal is expected to close in the third quarter.
Shares of Heinz were up nearly 20 percent at $72.45.
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LONDON (Reuters) - Britain is justified in sharing intelligence with countries suspected of human rights abuses to protect itself, Foreign Secretary William Hague will say on Thursday, despite concerns over the torture of suspects and costly court cases.
Since the September 11, 2001 attacks on the United States, Britain has been wrestling with how to uphold its opposition to all forms of torture whilst ensuring it could gather information about planned attacks by militants, some of which might have been obtained through ill-treatment of suspects.
That has led to accusations of collusion in torture and a number of embarrassing legal defeats.
In a speech setting out the government's counter-terrorism strategy, Hague will argue that Britain faces a "stark choice" over whether to turn away from states unable to guarantee that suspects won't be abused or tortured.
Hague, who oversees Britain's Secret Intelligence Service (SIS) and the Government Communications Headquarters intercept agency, said there were risks in working with some countries, but that the dangers of disengaging were even greater.
Many countries would be able to give "credible assurances" that they will not mistreat suspects, Hague will say, according to advance extracts of his speech released by his office.
"Where this is not the case, we face a stark choice," he will say. "We could disengage, but this would place our citizens at greater risk of terrorist attack, in the UK or overseas. Or we can choose to share our intelligence in a carefully controlled way."
PAYMENTS
In 2010, Britain agreed to make payments to 16 former Guantanamo Bay detainees in out-of-court settlements over allegations they were mistreated abroad with the knowledge and in some cases complicity of British security services.
The same year, the government lost a legal battle to prevent disclosure of secret U.S. intelligence material relating to the "inhuman" treatment of one former Guantanamo Bay detainee, which officials said risked future U.S. cooperation.
Meanwhile, London has also suffered repeated court defeats in its attempt to deport radical cleric Abu Qatada to Jordan because judges believed evidence obtained using torture could be used against him in a future trial.
British authorities say they would never use, or encourage others to use, torture to obtain information. Hague said in 2011 that the very fact allegations had been made had "undermined Britain's standing in the world".
However, human rights groups condemned British Prime Minister David Cameron's decision last year to scrap an inquiry into whether its security services knew about the torture of terrorism suspects overseas.
In his speech, Hague will outline a new approach to counter-terrorism that "supports justice and the rule of law as well as our security".
Under the strategy, Britain will work with countries where there is a security threat to try to improve their approach to human rights, law enforcement and criminal justice.
Hague will also say al Qaeda posed the biggest threat to Britain's security, with last month's hostage crisis in Algeria and fighting in Mali highlighting how this had become more "fragmented" and how militants exploited regional unrest.
(Editing by Michael Holden)
Source: http://news.yahoo.com/britain-says-intelligence-sharing-crucial-despite-abuse-risks-000945637.html
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Public release date: 14-Feb-2013
Share ] Contact: Jamie Hanlon
jamie.hanlon@ualberta.ca
780-492-9214
University of Alberta
There's a billboard up ahead, a roadside sign full of language and imagery. Next stop: the emotionally distracted zone.
One University of Alberta researcher has discovered that language used on billboards can provoke an emotional response that affects our driving abilities. And whether the words have a negative or positive connotation seems to determine whether the attention wanders or the foot gets heavier.
Lead study author Michelle Chan says that although plenty of literature exists on road rage, none of it deals with external emotional stimuli. Chan and her U of A co-author, psychology professor Anthony Singhal, devised an experiment using a driving simulator. Participants drove through one of three scenarios that exposed them to 20 billboards on the course; each billboard contained blocks of words that were positive, negative or neutral in nature. They were also tested for response by having to push a button on the steering wheel when they encountered a target word.
"Studies have shown that when subjects see an emotional stimulus as opposed to a neutral one, they're slower in making reaction time responses and they're slower when doing a visual search," said Chan. "I wanted to see whether the results would carry over in drivingwould we also find more distracted performance in driving?and we did see that."
Emotionally charged words affected the subjects' driving focus, something that may make driving in real conditions hazardous. Chan says that subjects who viewed the negative words decreased travelling speed when passing the signs and tended to drift and veer from their lane. Conversely, drivers viewing the words with positive connotations sped up when passing the signsa response the researchers said supported other research.
"There have been studies showing that when you're positively stimulated, your attention broadens, so you perform better when you're in a happy mood," said Chan. "In my results, we also saw that when we looked at the reaction-time data in response to target words, participants actually responded faster in the positive block than in the negative block."
Chan says a precedent already exists Down Under for dealing with this type of distraction, but some places may be harder to convince than others.
"In Australia they have really strict billboard criteria, but in the United States it's less so," she said. "When you're driving in Las Vegas, you'll see a bunch of profane billboards. There are also some really graphic anti-smoking billboards around."
Chan contends that emotional distraction while driving may come from anything from music to news to conversations, so it would be hard to legislate against those types of factors. Self-regulation on the images and language marketers use on billboards could be one way to reduce potential for emotionally related vehicular incidents.
Ultimately, she says, drivers need to take responsibility for their actions behind the wheel, even if it meets reducing the usual driving stimuli such as talking or listening to the radio.
"Any kind of distraction is risky when you're driving. But there would appear to be a larger risk when it comes to emotional stimuli."
###
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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.
Public release date: 14-Feb-2013 Share ] Contact: Jamie Hanlon
jamie.hanlon@ualberta.ca
780-492-9214
University of Alberta
There's a billboard up ahead, a roadside sign full of language and imagery. Next stop: the emotionally distracted zone.
One University of Alberta researcher has discovered that language used on billboards can provoke an emotional response that affects our driving abilities. And whether the words have a negative or positive connotation seems to determine whether the attention wanders or the foot gets heavier.
Lead study author Michelle Chan says that although plenty of literature exists on road rage, none of it deals with external emotional stimuli. Chan and her U of A co-author, psychology professor Anthony Singhal, devised an experiment using a driving simulator. Participants drove through one of three scenarios that exposed them to 20 billboards on the course; each billboard contained blocks of words that were positive, negative or neutral in nature. They were also tested for response by having to push a button on the steering wheel when they encountered a target word.
"Studies have shown that when subjects see an emotional stimulus as opposed to a neutral one, they're slower in making reaction time responses and they're slower when doing a visual search," said Chan. "I wanted to see whether the results would carry over in drivingwould we also find more distracted performance in driving?and we did see that."
Emotionally charged words affected the subjects' driving focus, something that may make driving in real conditions hazardous. Chan says that subjects who viewed the negative words decreased travelling speed when passing the signs and tended to drift and veer from their lane. Conversely, drivers viewing the words with positive connotations sped up when passing the signsa response the researchers said supported other research.
"There have been studies showing that when you're positively stimulated, your attention broadens, so you perform better when you're in a happy mood," said Chan. "In my results, we also saw that when we looked at the reaction-time data in response to target words, participants actually responded faster in the positive block than in the negative block."
Chan says a precedent already exists Down Under for dealing with this type of distraction, but some places may be harder to convince than others.
"In Australia they have really strict billboard criteria, but in the United States it's less so," she said. "When you're driving in Las Vegas, you'll see a bunch of profane billboards. There are also some really graphic anti-smoking billboards around."
Chan contends that emotional distraction while driving may come from anything from music to news to conversations, so it would be hard to legislate against those types of factors. Self-regulation on the images and language marketers use on billboards could be one way to reduce potential for emotionally related vehicular incidents.
Ultimately, she says, drivers need to take responsibility for their actions behind the wheel, even if it meets reducing the usual driving stimuli such as talking or listening to the radio.
"Any kind of distraction is risky when you're driving. But there would appear to be a larger risk when it comes to emotional stimuli."
###
[ | E-mail | 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/2013-02/uoa-abd021413.php
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When Alex Ferguson?s starting XI was announced, many assumed Manchester United was trying to outgun Real Madrid. A lineup featuring all of Robin van Persie, Wayne Rooney, Shinji Kagawa and Danny Welbeck would certainly attack, it was thought. It was also destined to leave United too exposed to a Merengues attack that would take them apart. If points were awarded before kickoff,?El Real would have claimed all three.
But while United proved potent throughout the match, the team Ferguson selected were ultimately capable of playing exactly as many expected. In the pre-XI buildup, most assumed Manchester United would play cautiously and be content to leave the Santiago Bernabeu within striking distance of their opponents. Thanks to an early goal from Danny Welback and some standout goalkeeping from former Atl?tico Madrid netminder David de Gea, the Red Devils are closer than mere striking distance. Taking a 1-1 result out of the Bernabeu, United has an away goals lead ahead of March 5?s second leg.
The result leaves both teams reason to be encouraged. For Real Madrid, they can reasonably feel they were the better team, giving a performance that would win on most nights. The success they had down the flanks ? Cristiano Ronaldo on Rafael and Angel Di Maria against Patrice Evra ? is something that can be replicated in Manchester. The Red Devils have less reason to believe all of Rio Ferdinand, Jonny Evans, Phil Jones and de Gea will meet today?s high standards.
But United have reason to think they can win even if their defense doesn?t replicate Wednesday?s performance. Today?s goal was containment, yet they still were able to generate a number of opportunities. Robin van Persie had two chances to steal a late victory. If United ends up tasked with scoring goals at home (something they won?t need to do at kickoff two weeks from now), they can believe their clinical finishing combined with a more ambitious style will sink Real Madrid.
Man of the Match:?Only one or two of the saves that?David de Gea?(right) made couldn?t have been made by another goalkeeper (how many players are going to make a hockey-style kick save?), but like Gianluigi Buffon yesterday, much of de Gea?s value was in what he didn?t do. On a series of hard, well placed shots, de Gea consistently pushed balls into touch or innocuous areas that prevented Real Madrid from building on their pressure. Once the ball was out for corner kicks, United used their aerial superiority to defuse any danger.
The English media has derided de Gea for his trouble coming out for crosses, a criticism that makes sense given the emphasis English soccer has traditionally put on wide play and crossing for target strikers. But some time ago, that derision crossed the line and started depicting de Gea as a much worse keeper than he actually is. Today may help correct the record.
Threesome of knowledge: What we learned
Manchester United?s central defense continues to improve -?We talked about it this weekend, but after another strong performance, it bears repeating: If Manchester United?s problems in central defense are solved, the team has little worry about over the rest of the season. They?ll continue cruising away from England, and they?ll be a dark horse contender to win Champions League.
Rio Ferdinand got the call along side Jonny Evans today, and thanks to help from de Gea and the midfield-deployed Phil Jones, the duo managed to withstand constant pressure from the?Merengues. Whether it was dealing with Karim Benzema and Gonzalo Higua?n or having to contain Cristiano Ronaldo on those occasions the Real winger cut insider Ferdinand and Evans were up to the challenge, winning their battles against Real?s No. 9s while forcing Ronaldo toward the byline and limiting him to crosses.
The difference a healthy Ferdinand offers is striking. Organization we rarely an issue, and Ferdinand still possessions great judgment choosing when to come out of defense to challenge in midfield.
Unfortunately, he?s rarely healthy, but if he can stay fit for the next four months, United could have their strongest team since Moscow.
A lot of chances, just not the right ones -?From their final third to the edge of the penalty area, Real Madrid?s attackers (particularly Mesut Ozil and Angel Di Maria) were given room to run at the defense, an approach that resulted in a number of long distance shots, many of which were blocked. United?s defenders kept play in front of them an absorbed attacks rather than challenge for the ball and potentially leave themselves exposed.
The results were huge deficits in possession (61-39) and total shots (28-13) but few danger moments for de Gea and, for a road team, a relatively competitive difference in shots on target (8-6).
Real Madrid needed to be more patient. Particularly given the way de Gea was managing the shots that got through on goal, they needed to craft something more dangerous.
Because the little through balls they?re used to playing were unavailable against United,?los Blancos?may have elected to try and burn the Red Devils from distance. But it didn?t work, and unless they get a deflection or a hand ball call in the second leg, it?s unlikely to work at Old Trafford.
The value of Phil Jones -?It?s easy for a defense to look good when somebody like Phil Jones is protecting them.
On Sunday, Jones was tasked with marking Marouane Fellaini, an approach that helped United keep a clean sheet against Everton. Today, Jones was a wrecking ball in front of the United defense. Late in the match, his experience at center half came into play as he dropped deeper and to help the Red Devils bleed out the draw.
Because of his versatility (able to play center half, right back, and defensive midfield) it?s been difficult to say United have missed Jones in any particular role, but with the former Blackburn prospect injured for much of the season, the Red Devils certainly have missed him to come degree. It?s games like Wednesday?s that illustrate how much.
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Poster Art 150: London Underground's Greatest Designs is a major exhibition at the London Transport Museum, opening on February 15, to celebrate the 150th anniversary of the Tube.
Here is a selection of some of the best posters being displayed.
London Transport - keeps London going, by Man Ray
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WASHINGTON (AP) ? Just about everyone in official Washington is in agreement that big across-the-board spending cuts at the Pentagon and throughout domestic federal programs on March 1 are a bad idea.
So far, however, the warring factions in the nation's capital seem more interested in finger-pointing than problem-solving.
Top House Republicans have embarked on a PR campaign reminding the public that the idea for the across-the-board cuts originated in Obama's White House.
Senate Democrats are preparing a bill to substitute about $120 billion in alternative deficit cuts over 10 years and prevent the automatic cuts ? in Washington parlance, a sequester ? through the end of calendar 2013. Its biggest component is a $47 billion tax increase on the rich; that is sure to prompt a GOP filibuster, probably successful, that will give Democrats political cover ? and ammo.
"We again find ourselves in sad and familiar territory," said Senate Minority Leader Mitch McConnell, R-Ky. "Democrats sit on their hands until the last minute. Then they offer some gimmicky bill designed to fail."
Then there's President Barack Obama. He appeared before reporters at the White House last week to urge lawmakers to come up with a short-term plan to avoid the sequester. But Obama offered nothing specific, even though there are plenty of options at the ready after several recent rounds of failed Washington budget negotiations.
House Republicans do not have a plan to shut off the cuts and instead point to a spending cut bill that passed twice last year, most recently by a slender 215-209 vote in December. The GOP now controls eight fewer seats in the House and there's hardening sentiment among some tea party Republicans to allow the automatic cuts to take effect. It's not clear whether GOP leaders like Speaker John Boehner of Ohio could muster enough support to stop them.
"They seem content to sit on the sidelines and let the sequester take effect," said Senate Majority Leader Harry Reid, D-Nev.
The Senate bill would replace the automatic spending cuts with a tax increase patterned after the so-called Buffett Rule, which would require people with million-dollar incomes to pay a minimum 30 percent income tax. The rule is named after billionaire Warren Buffett, who championed it on the grounds that it wasn't fair for his secretary to pay a higher effective tax rate than him. That's because taxes on most earned or wage income are generally higher than taxes on investments.
The Buffett rule was a wedge issue in last year's campaign and was rejected by Senate Republicans in April. It's sure to prompt Republicans to scuttle the upcoming Democratic bill in a filibuster vote expected to be held just days before the cuts take effect March 1.
All sides now think Washington is inevitably drifting into the sequester trap. Everyone's sticking to their positions. It's as if the only way out of the crisis is to stumble into it ? and hope the resulting political heat drives the battling sides to compromise.
Republicans say the moment calls for presidential leadership.
"The president warned of grave economic consequences if the sequester were to go into effect, but he didn't announce any specific plans for how he would address it," Boehner told reporters last week. "He didn't bother to actually outline how he would replace the sequester that he suggested and insisted upon."
Senior White House aide Jason Furman said last week that any short-term plan should include "a balanced combination of spending and revenue measures." He would not elaborate. Nor have Obama and Boehner talked recently, other than pleasantries at the inauguration. Boehner and Senate Majority Leader Harry Reid, D-Nev., haven't been in touch either, even as the cuts loom ever closer.
"There's an eerie similarity here isn't there to previous occurrences?" McConnell said Tuesday. "Take no action. Go right up to the deadline. And have an 11th hour negotiation. Read my lips, I'm not interested in an eleventh-hour negotiation."
The idea for the sequester came from the White House during negotiations in the summer of 2011 to increase the government's borrowing cap. Then, the White House pushed it as a way to avoid a second vote to increase debt limit that would have occurred in the middle of Obama's re-election campaign.
Whatever their reservations, top Republicans voted for the idea.
The sequester was intended to be so harsh that its prospect would drive a deficit-cutting "supercommittee" created by those talks toward an agreement. It did not.
The cuts were originally due to hit Jan. 1 but lawmakers gave themselves a two-month reprieve in last month's deal to avert the so-called fiscal cliff.
Many Republicans see the prospect of the sequester as their best chance to force Obama to agree to cuts in government benefit programs like Medicare, and some tea party Republicans are willing to absorb the sequester cuts if he won't go along. GOP leaders across the board say they won't agree to tax increases demanded by Democrats as part of any solution.
Obama carries the power of his office and the fact that he's more popular with the public than Capitol Hill Republicans into the battle. So Republicans already have been working overtime to remind voters that the sequester idea came from Obama's administration. Still, blaming the president for something some GOP members are embracing promises to be a tightrope exercise for Republican leaders.
Source: http://news.yahoo.com/finger-pointing-trumps-problem-solving-budget-074249014--finance.html
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GAO, Mali (AP) ? French soldiers on Wednesday recovered an enormous stash of explosives that authorities believe radical Islamic fighters were using to make bombs for attacks on northern Mali's largest city, a Malian military spokesman said.
Meanwhile, officials in the capital said the army captain behind a coup last year that paved the way for radical Islamic militants to take over the north will be tasked with reforming the military.
France has said it intends to eventually hand over its mission to oust the Islamists to the Malian military and other African soldiers. The move is likely to heighten international concerns about whether Mali's army is up to the task.
Malian military spokesman Daouda Diarra said that the French military removed some 800 kilograms (1,700 pounds) of explosive materials from a house in Gao. The find raised further fears that jihadists could be preparing to stage devastating attacks on civilian centers.
The explosives had been discovered several days earlier, and the team had returned to the site in the morning, Diarra said.
French military officials could not be immediately reached for comment.
Radical Islamic fighters withdrew from Gao on Jan. 26 after imposing their harsh interpretation of Shariah law in the most populous city in northern Mali for nearly 10 months.
Since their retreat, the Islamic extremists have launched two suicide bombings in the last week and invaded the city for a five-hour-long gun battle Sunday in the center of the city. Sunday's brazen assault marked the first time the jihadists had penetrated the city of mud-walled buildings since they fled.
Last week soldiers combing abandoned jihadist hideouts also found a stash of NITRAM 5 explosives hidden inside rice bags that were left in a communal trash area. The explosives are manufactured for use in mining, but can cause considerable damage when used as bombs.
Neither of the suicide bomb attacks has killed other people, but the pattern of attempts has raised alarm.
One of the suicide bombers had stayed in a Gao house where Islamic extremists lived when they controlled the city. The guard there said it had been visited by the one-eyed Algerian terror leader Moktar Belmoktar, who was the architect of last month's attack on a BP plant in Algeria in which at least 37 people were killed.
Soldiers from Niger and Mali have been patrolling downtown Gao on foot in recent days in an effort to secure the city. On Wednesday, a new checkpoint with about two dozen Malian soldiers standing guard also was set up near the waterfront to control traffic.
Mali was plunged into turmoil after the coup in March 2012 created a security vacuum that allowed secular rebel Tuaregs, who have long felt marginalized by Mali's government, to take half the north as a new homeland. In the following months, the rebels were kicked out by the Islamists who imposed strict Shariah law in the north, including amputations for theft.
The military was thrown into disarray by the coup led by Capt. Amadou Haya Sanogo. On Wednesday, officials said the man who helped overthrow the democratically elected president now would lead a committee working to reform the military.
"It's a question of giving a role to Captain Sanogo so that the Malian military can be reformed to correct the failures," said Capt. Mariam Sagara, the spokeswoman for the committee.
France launched a military operation Jan. 11 against the Islamic extremists after they started to move south into government-controlled areas and captured key towns.
___
Ahmed reported from Timbuktu, Mali.
Source: http://news.yahoo.com/french-mali-troops-recover-explosives-gao-135928122.html
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