Source: http://news.feedzilla.com/en_us/stories/politics/top-stories/164308266?client_source=feed&format=rss
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Monday, November 21, 2011
Friday, November 18, 2011
Technology's ?1m Nobel prize on the starting blocks
Paul Marks, senior technology correspondent
David Cameron talks with Ron Dennis, the Executive Chairman of McLaren Automotive, during a visit to the McLaren Technology Centre in Woking (Image: Oli Scarff - WPA Pool/Getty Images)
A ?1 million prize for technological innovation was launched in London today - and although the Queen Elizabeth Prize for Engineering (QEPE) may sound like a UK-centric affair, the big money competition will be open to engineers the world over.?To be run?by the Royal Academy of Engineering, the idea is to compete with the circa ?1 million prizes handed out for science research by the Nobel Foundation.
By offering a ?1 million prize, the eleven blue chip companies funding it hope to spur innovation and reward the successful appliance of science in solving the world's over-arching problems, such as combating climate change. It will awarded every two years from 2013 for "outstanding advances in engineering that have created significant benefit to humanity".
(Image: New Scientist)
Prime Minister David Cameron, meanwhile, hopes the QEPE will encourage a revival in British engineering - which begs the question: why is it then open to all nations to enter? "By doing it in this way you're not only going to give engineering a boost, but also Britain a boost too - and I think the two go together very clearly," he told New Scientist.
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Tuesday, November 15, 2011
The only way...
They've been best friends since anyone can ever remember, well actually it was 6th grade. Always together and always having fun, pranking each other etc but they?ve never actually showed feelings for one another. Everyone always thinks they?re dating but actually, they?re usually dating someone else. They're 18 now. About 2 weeks ago her parents suddenly passed away in a car accident leaving her and her 3 year old sister behind. She figured she would be okay.. She was pretty much raising her anyways since her parents were always on vacation and had plenty of money. She'd be able to hire a babysitter, finish school etc but that all changed when she met with the attorney. Her parents set their will up so that nothing would be left unless she was 21. He looked her dead in the eyes and said ?Unless you pass, or you?re married everything will be lost in the system for 3 years, house, cars, money. Your best bet? Find someone and get married quick.? Thats what brought them to this situation. ?I?ll marry you.? He said without hesitation. ?I mean.. just so you can get what you need for your sister.?
Name: Ryan Cansdale
Age: 18 
First Post:
They were sitting in her room racking their brains for ways to get out of this situation, to make sure that her and her little sister didn't suffer after they'd already lost their parents unexpectedly. The lawyers advice was good, but who was she supposed to marry? She had always dated tools in Ryan's opinion and he couldn't see her and her little sister living with someone like that. He thought about it for a minute, how he'd always been there for her, and for her little sister. Sometimes he had more fun playing with her than he did hanging out.
"What about..." He paused for a second really trying to think about the seriousness of what he was about to come out and say. "What if we got married?" He said without hesitation. "I mean.. we hang out all the time, everyone always thinks we're dating anyways. We could get married so that you could get everything in the will, and take care of your sister." He offered.
"It would have to look legit. We'd have to tell my parents, and probably move in together until everything cleared but after that we could just get a divorce. Those are nothing now a-days. Look at that Kardashian girl.. 72 days? that's nothing for us." He looked into her eyes trying to decipher what she was thinking about his crazy plan but couldn't. "Say something..."
"And when someone apologizes to you enough times for things they?ll never stop doing, I think it?s FEARLESS to stop believing them. It?s FEARLESS to say ?you?re NOT sorry?, and walk away. I think allowing yourself to cry on the bathroom floor is FEARLESS. Letting go is FEARLESS. Then, moving on and being alright?That?s FEARLESS too." - Taylor Swift
Source: http://feedproxy.google.com/~r/RolePlayGateway/~3/HkV7mPXIN2E/viewtopic.php
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Monday, November 14, 2011
In graft-plagued India, a "crisis of political credibility" (Reuters)
MUMBAI (Reuters) ? "The tragedy of India is its political system."
That admission by a government minister captured the frustration of delegates at this week's India's World Economic Forum (WEF), where blame has been heaped on corruption and the policy paralysis in New Delhi for a darkening economic outlook.
The government was running scared just a few months ago when a group of activists whipped up popular rage over a rash of corruption scandals, bringing millions of people out onto the streets of the country's cities in peaceful protest.
The crowds have long gone, but the pressure is far from off Prime Minister Manmohan Singh and his government. And some of India's top industrialists warned that Asia's third-biggest economy needs to quicken reform and improve governance.
The calls have added urgency with signs the economy is heading for trouble.
GDP growth may come in at 7.2 percent in the current fiscal year, a respectable enough number but a sharp fall from 8.5 percent in 2009/10. Industrial output has slowed sharply, consumer confidence is waning and inflation remains near double digits despite 13 interest rate increases.
"We shouldn't say that because the institutions of democracy are there, we will be paralysed," said Mukesh Ambani, head of Reliance Industries and India's richest man. "And because there is an opposition and a party in power, we would do nothing. That's what worries me."
"This path from 20th century mindset and institutions to a 21st-century delivery model to meet the expectation of each citizen requires a dramatic shift in terms of our governance. We need to align and move a lot faster."
Farooq Abdullah, the renewable energy minister who bewailed the "tragedy" of India's political system, conceded that the onus was on the country's leaders: "Change will come when we change," he said.
Kiran Bedi, a prominent member of the anti-graft movement, warned of fresh protests if a bill setting up a powerful authority to prosecute corrupt bureaucrats and ministers is not passed in the winter session of parliament that opens next week.
"The whole country will be back to the streets ... people are fed up," said Bedi, a former police officer who shot to fame in the 1980s after she towed away ex-Prime Minister Indira Gandhi's car for a traffic violation.
Exasperation with India's rampant corruption and its dirty politicians is not confined to the urban middle classes, who put aside political apathy to support the movement led by a self-styled Gandhian and serial hunger striker, Anna Hazare.
Perhaps the most popular session on the first day of the two-day economic conference in Mumbai, attended by the country's most powerful businessmen and captains of industry, was one on corruption - ominously entitled "The Indian Spring".
CLIMATE OF FEAR
India ranked number 87 in Transparency International's index on corruption in 2010, behind rival China.
Corruption is widely blamed for the parlous state of India's infrastructure and its services, and it is a drag on an economy that has grown at around eight percent per annum over the last few years.
"If we are able to fight corruption in this country successfully, I think it will considerably increase foreign investment into India," Adi Godrej, chairman of the consumer goods and real estate Godrej Group, told the forum.
"If we are able to reduce corruption very considerably it can add about a percentage point to India's GDP growth."
The crisis into which Singh's Congress party was pitched by the popular outrage has taken a toll on governance. Several key bills, including one on land acquisition reform, and plans to open up the retail sector to foreign companies, have stalled.
A climate of fear - one minister has already been arrested in a case involving millions of dollars in kickbacks in the sale of mobile phone licenses - has led officials to sit on their hands rather than take policy decision or project initiatives that might somehow be construed as corrupt.
Very few steps have been taken to open up the economy since Singh became prime minister in 2004, which was fine for business leaders as long as economic growth was charging along.
"The government should start governing again," said Udayan Sen, chief executive officer for Deloitte in India. "I think we really have a governance paralysis and there is an enormous lack of confidence in ... the government."
Nitin Godkari, president of the opposition Bharatiya Janata Party (BJP) - which has failed to make much mileage out of the Congress party's troubles - branded the new mood in the country a "crisis of political credibility".
It fell to the minister of state for planning, science and technology and earth sciences to take the heat at the World Economic Forum over corruption on Sunday.
Ashwini Kumar conceded that the spotlight on India's corruption has tarnished the country's image and cost it economic growth, and he promised the passage of robust legislation to tame it in the next parliament session.
But he warned against expecting too much from the anti-graft bill. "Has law, anywhere in the world ... stopped prostitution, gambling or corruption?" he said.
For more Reuters coverage of the World Economic Forum India Economic Summit, click http://in.reuters.com/subjects/wef-india-economic-summit
(Additional reporting by Swati Pandey and Sumeet Chatterjee; Editing by Alistair Scrutton and Raju Gopalakrishnan)
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Sunday, November 13, 2011
Insight: U.S. readies defenses against Europe spillover (Reuters)
HONOLULU/WASHINGTON (Reuters) ? The United States is ramping up attempts to safeguard its financial system from a worsening of Europe's debt crisis, joining nations in Asia, Latin America and elsewhere in trying to build firewalls.
U.S. policymakers, alarmed by the political upheaval in Italy and Greece, are digging deep into the books of American banks to find out how exposed they might be to euro zone creditors and the plunging value of sovereign debt.
Officials were stung by the implosion of Wall Street firm MF Global, which gambled and lost on European debt, and they are working on contingency plans for a worst-case scenario should another financial firm crumble.
A senior U.S. Treasury official said regulators are contacting big U.S. financial institutions to make sure they are scaling back exposure to Europe and are ready for a potential worsening of the crisis.
The Financial Stability Oversight Council, an inter-agency group set up after the 2007-2009 financial crisis, was trying to identify specific firms that could be hit by financial turbulence and then sort out ways that each one can fortify its balance sheet, the Treasury official said.
While the Treasury has been at pains to say that direct U.S. bank exposure to European countries now receiving bailout aid -- Greece, Ireland and Portugal -- is moderate, once the debt of Italy and Spain, plus credit default swaps, and U.S. bank indirect exposure through European banks are added, the potential sum could exceed $4 trillion.
"As such, the potential for contagion to the U.S. financial system is not small," the Institute of International Finance, the lobby group for major international banks, said last week.
Hedging and netting would limit the true size of any losses, so the $4 trillion figure would be the outer edge of U.S. total exposure.
U.S. banks had about $180.9 billion of debt from Greece, Ireland, Italy, Portugal and Spain on their books at the end of June, based on Bank for International Settlements data. Italy accounted for the largest chunk, more than $250 billion. Guarantees and credit derivatives added another $586.6 billion, bringing the total to $767.5 billion, the IIF said.
There is a secondary level of exposure that is potentially more worrying -- through international banks lending to each other. Here the greatest risk stems from Italy and France. International bank claims on Italy total $939 billion, and French banks account for well over one-third of that, BIS data show. French banks also rely heavily on short-term loans from other international banks for their daily operations. If Italian debt slumps even further, causing deeper losses for French banks, international banks could stop lending to France. The losses would ripple through the whole global financial system.
The United States learned the hard way how these indirect financial linkages work when imploding credit default swaps forced it into a $180 billion bailout of insurance giant American International Group in 2008 to prevent further contagion in the banking sector.
The danger is that a steep drop in sovereign bond prices prompts similar margin calls at banks that could snowball into a seizing up of credit, the lifeblood of an economy.
European banks hold some $3.5 trillion of euro-zone sovereign bonds and U.S. banks have significant direct exposure to their European peers, the IIF said in a report.
Federal Reserve Chairman Ben Bernanke was frank last week about the risks: "It is not something that we would be insulated from ... I don't think we would be able to escape the consequences of a blow-up in Europe."
JPMorgan Chase, the largest U.S. bank, holds about $44 billion in debt of troubled euro-zone nations -- Greece, Ireland, Portugal, Spain and Italy -- and Citigroup, the third largest, has $24.3 billion, said Dick Bove, a banking analyst at Rochdale Securities in September.
MF Global's fall gave a taste of how contagion can rip through the financial system. Brokerage Jeffries Group Inc's shares plunged on concerns about exposure to Europe. The shares stabilized after the firm clarified its position.
CHECKING THE BOOKS
Fed Vice-Chair Janet Yellen said a new round of stress tests of U.S. banks will start in "a couple of weeks" to check their resilience should the value of their assets plunge.
"In light of such international linkages, further intensification of financial disruptions in Europe could lead to a deterioration of financial conditions in the United States," she told a Chicago audience on Friday.
"We are monitoring European developments very closely, and we will continue to do all that we can to mitigate the consequence of any adverse developments abroad on the U.S. financial system," she added.
Stress tests could lead to some banks raising more capital. The Financial Industry Regulatory Authority told MF Global to boost its net capital in August following concerns about its exposure to European debt.
A Fed survey last week showed that about half the top U.S. banks had loans to European banks or were extending credit to them. If European banks ran into trouble and were unable to repay their loans, U.S. banks could face sizable losses.
The chief economist for ratings agency Moody's Investors Service, Steven Hess, said last week that so far there were no signs that banks were unwilling to lend to one another.
"If ... the crisis becomes much worse and includes Italy for example -- and this is all if, not a forecast from the part of Moody's -- if that were to happen, you could see the financial system in the United States ... suddenly suffer problems," Hess told the Reuters Washington Summit.
Should that happen, the United States can turn to tools it honed during the financial crisis of 2007-2009, said Nellie Liang, director of the Fed's Office of Financial Stability Policy and Research.
"We were creative that time, and we could be creative this time," Liang said. "But I think, just step back, the first line of defense is doing proper risk management and supervision."
U.S. money market funds, for example, already have pulled back significantly from European debt exposure under the watchful eye of regulators, she said. Their holdings of European paper totaled $384 billion in September, down 30 percent from June when alarms were first rung, the IIF said.
Regulatory reforms have given the Fed much more authority to watch over and investigate financial firms considered so large that they could disrupt the whole financial system.
IMPATIENCE
U.S. impatience over Europe's inability to quash the spreading risk is palpable. Treasury Secretary Timothy Geithner tried again on Thursday to press for more decisive action.
"It is crucial that Europe move quickly to put in place a strong plan to restore financial stability," Geithner said in Hawaii, echoing the views of other finance ministers attending the Asia Pacific Economic Cooperation summit.
"It is not being dealt with forcefully," Philippines Finance Minister Cesar Purisima said at the summit.
APEC finance ministers agreed to shore up their economies to protect against any damage and underpin growth.
These steps might include imposing capital controls to prevent a rapid outflow of cash that would destabilize an economy, lowering interest rates or fiscal stimulus.
For the Philippines, Purisima told Reuters he is prepared: "We have a lot of fiscal space if we need it ... Whatever is necessary, we will be doing, our interest rates are low." --
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Republican Connie Mack threatening Bill Nelson in Florida Senate race, new poll says (The Ticket)
Mack (Harry Hamburg/AP)
It's a good thing for Republicans that Rep. Connie Mack changed his mind about running for the Senate, according to a new poll of Florida voters.The Republican member of Congress--whose father of the same name formerly served as a senator from Florida--is in a statistical dead heat with Bill Nelson, the Democratic incumbent, in a Quinnipiac University poll of registered voters released Friday.
Mack received the support of 40 percent of Florida voters in the poll, and Nelson received 42 percent. The margin of error is plus or minus 2.9 percentage points.
The numbers are likely a relief for Republicans, who doggedly recruited Mack even after he announced his decision not to run for the Senate in March, citing a desire to spend more time with family.
"The entrance of Congressman Connie Mack into the Senate race changes what had been shaping up as an easy reelection for Sen. Bill Nelson into a tough fight that the incumbent could lose," Peter A. Brown, the assistant director of Quinnipiac University's Polling Institute said in his analysis. "The fact that Mack is essentially tied with Nelson, who has been a statewide political figure for two decades, should set off warning bells at Democratic headquarters."
Mack appears to hold an early lead in the Republican primary. He received the support of 32 percent of Republican voters. His closest competitor, former Sen. George LeMieux, was at 9 percent. The Republican sample in the poll has a margin of error of plus or minus 4.3 percentage points.
Republicans have been eager to mount a strong challenge to Nelson as well as boost voter enthusiasm and participation in Florida for the 2012 election--something current elected officials, at least at the top, aren't doing.?At the moment, Republican Gov. Rick Scott's approval rating is at an abysmal 36 percent, with a disapproval rating of 50 percent, according to Friday's poll.
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Saturday, November 12, 2011
Paterno, president out in Penn State abuse scandal (Reuters)
STATE COLLEGE, Pennsylvania (Reuters) ? Famed U.S. college football coach Joe Paterno and the president of Penn State University were fired on Wednesday in fallout from a child-abuse scandal and cover-up involving a former assistant coach and school officials.
The move by the university's board of trustees thwarted an attempt by Paterno, 84 and one of the most iconic names in American sports, to leave the team on his own terms. It triggered largely peaceful protests on campus from students.
"I am disappointed with the Board of Trustees' decision, but I have to accept it," Paterno said in a statement.
"I am grateful beyond words to all of the coaches, players and staff who have been a part of this program. And to all of our fans and supporters, my family and I will be forever in your debt."
During his 46 years as head coach, Paterno won two national championships, more games than any other and the adoration of Penn State's students, alumni and staff.
Paterno said earlier on Wednesday he would step down at the end of this season, a few weeks from now, and suggested the trustees should not worry about his status.
But the trustees said they needed to make immediate changes "in the best interests of the university" given the grave issues now facing it.
"Effective immediately, Doctor (Graham) Spanier is no longer president of the university," John Surma, vice chairman of trustees, told a news conference. "Joe Paterno is no longer the head football coach, effective immediately."
STUNNED GASP
Spanier had been president of Penn State for 16 years. His departure had been widely rumored on Wednesday. The announcement about Paterno triggered a stunned gasp from those at the press conference.
Tom Bradley, currently the defensive coordinator, will take over as interim head coach, starting with Saturday's final home game of the season against the University of Nebraska.
The trustees spent several hours on Wednesday evening deciding how to handle the unprecedented crisis that has engulfed the prestigious university in central Pennsylvania.
"These decisions were made after careful deliberations," said Surma. "We don't yet know all the facts and there are many details that are yet to be worked out."
Penn State, its football program and Paterno were thrown into turmoil on Saturday when charges were filed against long-time assistant coach Jerry Sandusky.
Sandusky, 67, is accused of sexually abusing at least eight boys over more than a decade. Two other university officials have been charged with not reporting an incident in 2002 when Sandusky allegedly was seen sexually assaulting a child.
Lawyers for all three men have said they deny the charges and maintain their innocence.
The situation was a tragedy and "one of the great sorrows of my life," Paterno said in his statement earlier.
"With the benefit of hindsight, I wish I had done more," Paterno said of his actions after learning of the allegations about Sandusky in 2002.
Spanier, who was criticized for not speaking out earlier, was contrite.
"There is wisdom in a transition in leadership so that there are no distractions in allowing the university to move forward," he said in a statement.
"I was stunned and outraged to learn that any predatory act might have occurred in a university facility or by someone associated with the university."
The board named Dr. Rodney Erickson, executive vice president and provost, as the university's interim president.
COVER-UP?
Earlier, the U.S. Department of Education said it would launch an investigation into the conduct at Penn State, which must disclose criminal offenses committed on campus each year.
"If these allegations of sexual abuse are true then this is a horrible tragedy for those young boys," Education Secretary Arne Duncan said in a statement. "If it turns out that some people at the school knew of the abuse and did nothing or covered it up, that makes it even worse."
The charges against Sandusky, who was new head coach Bradley's predecessor as defensive coordinator, and accusations school officials covered up the abuse for years have shaken the university.
A local artist painted over the image of Sandusky sitting next to Paterno on the "Inspiration" mural he created on campus in 2001 to honor people he admired. Michael Pilato, who said he got hundreds of emails asking him to remove Sandusky, left an empty chair and a blue ribbon to honor the alleged victims.
Sandusky allegedly recruited his victims from "The Second Mile," a charity he founded to help troubled children, and subjected them to a pattern of escalating abuse. A preliminary hearing originally set for Wednesday was postponed to December 7.
Former athletic director Tim Curley and former finance official Gary Schultz were charged on Monday with failing to alert police after they were told Sandusky was seen sodomizing a young boy in the locker room showers in 2002. They were also charged with perjury in their statements to a grand jury. All three men, through their lawyers, have denied the charges and maintained their innocence.
EMOTIONAL END
Paterno held a short meeting with coaching staff and players on Wednesday, which participants described as tearful and highly emotional.
The coach, with his thick, black-rimmed glasses and navy windbreaker, has been the face of Penn State football for generations.
Paterno's firing and Bradley's appointment sets up high drama on Saturday, when Penn State will take an 8-1 record into its final home game of the year against the University of Nebraska.
Under Paterno, Penn State won 409 games, a record for a coach in major college football. He set the record when the Nittany Lions beat the University of Illinois on October 29, just days before Sandusky was charged on November 5.
The scandal has rocked the sprawling campus of about 45,000 students in State College in central Pennsylvania, the flagship of about two dozen Penn State campuses across the state.
Hundreds of emotional, chanting, but mostly peaceful students converged on the university administration building late on Wednesday to protest the firing of Paterno.
The firing also stunned "Paternoville," the tent city that sprouts outside the football stadium before every home game, when students camp out to be first in line for good seats.
"Everything is calm at Beaver Stadium -- just a lot of emotions. We do not agree with any irrational decisions made downtown. Safe up here," said a Paternoville tweet.
College football is hugely popular in the United States, drawing massive television audiences every Saturday in the late summer and fall and filling huge stadiums. Beaver Stadium, which seats about 106,000, is one of the largest.
Teams generate million of dollars in revenue and successful ones raise the profile of their universities. That, in turn, helps fundraising -- such as the $2 billion capital campaign now under way at Penn State.
University trustees voted on Tuesday to name a special committee to determine any failures over Sandusky's alleged crimes and officials' response, saying they were "outraged by the horrifying details contained in the grand jury report."
That report detailed alleged sexual assaults by Sandusky over 15 years -- during his time as a Penn State coach and after his retirement in 1999.
A ninth potential victim, now in his 20s, has since come forward and Pennsylvania police have set up a hotline to call.
(Reporting by Ian Simpson in State College, Mark Shade in Harrisburg and Dave Warner in Philadelphia; Writing by Ros Krasny; Editing by John O'Callaghan and Eric Walsh)
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Friday, November 11, 2011
PSU trustees fire Paterno, Spanier
STATE COLLEGE, Pa. (AP) ? STATE COLLEGE, Pa. (AP) ? The most tumultuous week Penn State has ever endured is drawing to a close.
Questions, however, still linger.
Gov. Tom Corbett will be on hand Friday to help the board of trustees navigate a course through the turmoil from a child sex-abuse scandal that has engulfed the state's largest university and led to the firing of Hall of Fame coach Joe Paterno.
Corbett, an ex-officio member of the board, will participate in Friday's regularly scheduled trustees meeting, where a committee will be appointed to investigate the "circumstances" that led to the indictments of former defensive coordinator Jerry Sandusky, as well as two university officials.
"Certainly every Pennsylvanian who has any knowledge of this case, who has read the grand jury report, feels a sense of regret and a sorrow to also see careers end," Corbett said after arriving on campus Thursday.
Earlier in the day, Tom Bradley was introduced as interim head coach, marking the first time in almost a half-century the Nittany Lions have been guided by anyone other than Paterno.
"We're obviously in a very unprecedented situation," said Bradley, who was Paterno's lead assistant for the last 11 seasons. "I have to find a way to restore the confidence."
The committee has no timetable.
And no shortage of questions to answer ? from how much Paterno actually knew to the future of his staff, including assistant coach Mike McQueary, who told Paterno but not police about seeing Sandusky in a shower with a young boy in 2002.
McQueary, now the team's wide receivers coach, won't be present for the final home game of the season Saturday against Nebraska because of what the university said were "multiple threats."
"We intend to be as responsible as we can and make whatever changes are necessary," board vice chair John Surma said.
Sandusky, Paterno's onetime heir apparent, has been charged with molesting eight boys over 15 years. Athletic director Tim Curley and university vice president Gary Schultz have been charged with perjury and failure to report the 2002 assault to police, as required by state law.
All three maintain their innocence.
Paterno is not a target of the criminal investigation, having fulfilled his legal requirement by reporting what McQueary told him to Curley and Schultz. But the state police commissioner called Paterno's failure to contact police or follow up on the incident a lapse in "moral responsibility."
Paterno has acknowledged that he should have done more but has not said why he didn't go to the police, nor has he said whether he was aware of any earlier alleged assaults. Aside from a few brief comments outside his house and two statements, Paterno has not spoken publicly since Sandusky was indicted.
McQueary told the grand jury that he saw Sandusky sodomizing a boy of about 10 in the showers at the Penn State football building in March 2002.
McQueary later told Paterno, Curley and Schultz, although it is not clear how detailed his description was. Schultz, in turn, notified Spanier.
Curley and Schultz ? as well as Paterno ? testified that they were told that Sandusky behaved inappropriately in that 2002 incident, but not to the extent of McQueary's graphic account to the grand jury.
McQueary has not spoken publicly. His mother, Anne, said Thursday they have been advised not to comment.
Then 28, McQueary was "distraught" after witnessing the alleged 2002 assault, according to the indictment. Yet it appears he may have continued to participate in fundraising events with Sandusky ? including one held less than a month later.
Sandusky was a coach at a March 28, 2002, flag-football fundraiser for the Easter Seals of Central Pennsylvania, and McQueary and other Penn State staff members participated by either playing or signing autographs, according to a "Letter of special thanks" published in the Centre Daily Times.
The paper also reported that McQueary was scheduled to play in The Second Mile Celebrity Golf Classic in 2002 and 2003. The Second Mile is the charity Sandusky founded in 1997 to provide education and life skills to almost 100,000 at-risk kids each year.
And in 2004, the Centre Daily Times reported that McQueary played in the third annual Subway Easter Bowl Game, an Easter Seals fundraiser that was jointly coached by Sandusky.
Sandusky, a former Penn State player and assistant for 30 years, including 22 as defensive coordinator, had long been considered the likely successor to Paterno. But Paterno told Sandusky around May 1999 that he wouldn't get the top job.
According to the indictment, one of the alleged victims testified that Sandusky was "emotionally upset" after that meeting with Paterno, and Sandusky announced his retirement the next month.
Sandusky said he wanted to spend more time with The Second Mile, as well as taking advantage of a generous retirement package that included continued use of an office and access to the school's athletic facilities. Several of the alleged assaults took place on Penn State property.
Sandusky was just 55 when he retired with a sparkling resume. He stepped off college football's fast track when he would have been considered a top candidate for vacancies at any big-time program.
Bradley spent most of his career at Penn State as a defensive assistant and succeeded Sandusky as defensive coordinator.
Penn State has said Bradley will be interim coach for the rest of the season. It has not said if he will be a candidate for the permanent job, nor has it given any timetable for hiring a new coach.
It's not even clear who will do the hiring, with Curley on leave and provost Rodney Erickson serving as interim school president.
___
Associated Press Writer Genaro C. Armas contributed to this story.
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Strong quake hits southern Japan
TOKYO (AP) ? A fairly strong earthquake with a preliminary magnitude of 6.8 has hit off the shores of Japan's southern Okinawa Island.
Officials said the quake Tuesday about 135 miles (220 kilometers) away from the island was not expected to cause a tsunami. There were no immediate reports of damage or injuries.
Northeastern Japan was devastated by a massive earthquake and tsunami on March 11 that left nearly 20,000 people dead or missing. Japan, which lies along the Pacific "Ring of Fire," is one of the world's most seismically active countries.
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Monday, November 7, 2011
'Harry Potter' And The MTV Movies Live-Blog
As previously announced here on the blog, we're celebrating the release of "Harry Potter and the Deathly Hallows, Part 2" on DVD and Blu-ray this Friday with the most obsessive and wonderfully nuts way we could think of: watching all eight movies in sequence in a single day. Thanks to the good people at Warner [...]
Source: http://moviesblog.mtv.com/2011/11/06/harry-potter-and-the-deathly-hallows-dvd-live-blog/
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Sunday, November 6, 2011
Broker gets 17-year sentence in Texas fraud scheme
AUSTIN, Texas (AP) ? The former CEO of a Texas-based investment firm was sentenced to 17 years in prison Friday for a scheme that used former NFL players to bilk hundreds of investors out of more than $50 million.
Several of his victims watched as Kurt Branham Barton, the former head of Triton Financial, gave a tearful apology at the hearing in Austin.
"I never intended for any of this to happen," said Barton, 43, as he choked back tears. "I feel terrible about what's happened."
He was convicted in August on 39 counts, including more than a dozen each of wire fraud and money laundering. The charges could have carried up to live in prison.
Investors including Barton's family and church members thought their money was for real estate deals and business loans. Prosecutors say Barton spent much of the money on himself, using it to pay for such things as a luxury box at University of Texas football games and a $150,000 car.
Former NFL quarterback Ty Detmer testified during the trial that he considered Barton a close friend and lost most of this life savings, about $2 million.
Other athletes who prosecutors said promoted or invested with Triton were Heisman Trophy winner Earl Campbell, former NFL quarterback Jeff Blake and NFL kicker David Akers. Akers said he lost more than $3 million.
None of the athletes were accused of wrongdoing.
The Ponzi scheme bilked more than 300 investors over four years before ending in December 2009, prosecutors said. He was able to raise about $75 million from investors, only about $20 million of which went to legitimate business purposes, prosecutors said. Many of the investors lost their retirement savings in the scheme.
"He took my money for his fun ... and didn't do what he told me he was going to do," said Charles Dickens, one of Barton's investors. He said victims "wanted to just get by a little better, try to improve our lot. Now it's all gone."
Attorney Rip Collins said Barton was trying to run a legitimate yet mismanaged business and believed it could be turned around.
Guy Kenolle, a retired doctor, said he spent years saving for retirement.
"Kurt took my money," Kenolle said. "Now a lot of the things I planned on doing in my retirement are not possible."
Speaking to U.S. District Judge Sam Sparks, Kurt Barton's father, Chuck Barton, said it had been "one of the most horrifying experiences of our life."
"What I am is a father, standing here with my son, literally fighting for his life and not really understanding how it got to this point," he told the judge, crying.
Many of Barton's friends and family submitted letters in support, insisting to the court that Barton is a good father and upstanding citizen ? not the vicious predator prosecutors had described.
One was from former Dallas Cowboy Tony Dorsett, who called Barton a friend and an "honest, hard-working, God-fearing family man that cares about people and community."
"Mr. Dorsett didn't invest a dime," prosecutor Mark Lane argued.
"This case was never about money in his pocket," Lane said. "This was about Mr. Barton being a big shot ... This case was about his ego and feeding it. And his ego is expensive."
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Israeli navy boards 2 protest boats bound for Gaza (AP)
JERUSALEM ? Israel's navy boarded two small protest boats trying to break the blockade of the Gaza Strip on Friday and towed them to an Israeli port just north of the Palestinian territory, officials said. The military said no one was hurt.
Troops boarded the boats without incident after repeated calls for them to turn around were ignored, the military said.
Pro-Palestinian activists have mounted numerous attempts to reach the impoverished coastal strip by boat to draw attention to the 5-year-old blockade, which they say amounts to the collective punishment of Gaza's residents. Israel says its naval blockade is vital in preventing weapons from reaching violent groups like Hamas, the Iranian-backed militant group that rules the Gaza Strip.
Once the two small vessels reach the port of Ashdod, the activists will be detained and asked to leave the country voluntarily from the airport near Tel Aviv. If they refuse, they can have access to a lawyer to appeal being sent home.
There were 27 activists from nine countries including the U.S. and Ireland aboard the boats from a group called Freedom Waves to Gaza.
In Gaza, activist Amjad Shawwa, called for the release of the activists, who he said "were on a civil trip to Gaza to help the Palestinians."
Israel sees the attempts to break the sea blockade as provocations and publicity stunts. It says the amount of aid in the small boats used by activists is insignificant, as Israel transfers 6,000 tons of aid to Gaza daily.
Shawwa said he had spoken with activists on the boats about an hour before they were boarded, when they were surrounded by Israeli naval vessels, but contact was later severed when the activists' satellite phones stopped working. It was not clear if Israel was jamming them.
The Israeli military issued a short video clip showing a naval official calling on the ships to turn around. "The Gaza area and coastal region are closed to maritime traffic as part of a blockade imposed for security purposes," the unidentified officer said.
"Your attempt to enter the Gaza Strip by sea is a violation of international law. We remind you that humanitarian supplies can be delivered to the Gaza Strip by land, and you are welcome to enter Ashdod port and deliver supplies through land crossings."
When asked what the boats were carrying, an activist replies "we have no cargo."
A statement from the activists later said the boats were carrying medicine and supplies for Gaza.
"Despite this Israeli aggression, we will keep coming, wave after wave, by air, sea, and land, to challenge Israel's illegal policies toward Gaza and all of Palestine," activist Huwaida Arraf said in the statement.
Israel's navy has intercepted similar protest ships in the past.
Last year, Israeli troops killed nine Turkish pro-Palestinian activists when they resisted an Israeli operation to halt a similar flotilla. Each side blamed the other for the violence.
Israel has said its troops fired live ammunition only after they were attacked by activists armed with knives, clubs and metal bars and they felt their lives were in danger. The activists say they were attacked first.
The incident sparked an international outcry and forced Israel to ease its land blockade on Gaza, which was imposed in 2006 and tightened, with Egyptian cooperation, after Hamas seized control of the territory in bloody street battles from the moderate Palestinian Fatah party the following year.
"The naval blockade has been recognized as legal and legitimate by the United Nations," said Israeli Foreign Ministry spokesman Yigal Palmor. "It's necessity has been stressed recently by the intensified rocket attacks from Gaza."
Militants in Gaza have fired thousands of rockets into Israel in the past decade, including a barrage last Saturday that killed one Israeli and injured several others. About 1 million Israelis live within range of the Gaza rocket fire.
Speaking after prayers at a Gaza City mosque, Ismail Haniyeh, the Hamas prime minister, addressed the passengers aboard the boats, saying, "Your message has been delivered whether you make it or not."
"The siege is unjust and must end," Haniyeh said.
On Thursday, the Obama administration warned U.S. citizens on the boats that they may face legal action for violating Israeli and American law.
___
Associated Press writer Ibrahim Barzak contributed to this report from Gaza City, Gaza Strip.
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Saturday, November 5, 2011
GameStop, Acer Android tablets get prepped for holiday shopping (Appolicious)
It?s November, which means we?re mere weeks away from Black Friday, Cyber Monday and the holiday shopping season at large. It?s looking to be a great opportunity for Android tablet makers, as consumer tablet envy and improved devices promise to make for a more competitive market this year. GameStop is buttering up buyers with a tablet-game bundle, while Acer is running its own special at Best Buy. Also expected this holiday season is the Motorola Xoom 2, teasing us with a leaked advertisement that?s making its way across the web.
GameStop-modded tablets
GameStop hasn?t created its own tablets for its bundled promo, choosing instead to sell ?certified gaming tablets? in 200 select locations. Android?s the platform of choice, as GameStop lists four options for buyers: the $300 7-inch Viewsonic VPad 7, the $400 10.1-inch Asus Ee Pad Transformer, the $400 Acer Iconia Tab A500 and the $500 Motorola Xoom. The benefit of partnering with manufactures is that GameStop is able to offer a variety of tablets at various price points, instead of trying to compete directly with Amazon?s Kindle Fire for price and (watered down) features. And it seems GameStop has chosen its tablets carefully. The Acer A500, for instance, has a full-sized USB port so you can plug in your game controller or pair your Wii-mote for console games. This marketing campaign could also prove a useful way to distribute its own mobile games moving forward.
Acer Iconia Tab A500
While the Acer Iconia Tab A500 is one of the chosen for GameStop?s bundle, you?ll find the tablet even cheaper at Best Buy stores. As part of this week?s specials, the price on the A500 has been dropped to $349.99, a $50 reduction. The only 10.1-inch Android tablet in Acer?s lineup, the A500 features Android 3.0 Honeycomb, a 1GHz NVIDIA Tegra 2 dual-core processor, a 1280x800 capacitive LCD touchscreen, 16GB of built-in storage and 1GB of RAM. As mentioned above, the tablet also comes with a full-sized USB port, but boasts support for mini-USB, mini-HDMI and a microSD card (up to 32GB expansion). The rear-facing camera is 5-megapixels with an LED flash, while the front webcam is 2-megapixels.
Motorola Xoom 2
Android fans may have been slightly disappointed when the Motorola Xoom 2 didn?t make its debut at the recent Droid RAZR launch event, but a surprise launch this week promises availability for the holidays. There?s two Xoom 2 tablets hitting stores in the UK and Ireland (U.S. launch to follow), one with a 10-inch screen for business users, while the other is entertainment-centric with an 8.2-inch screen, called the Media Edition. Both are powered by dual-core 1.2GHz processors, run Android 3.2 Honeycomb and support Wi-Fi. The display screens are protected with Gorilla Glass and even come with a special splash-guard coating to make them more durable and stain resistant. Each tablet also sports a 1.3-megapixel front-facing camera with a 5-megapixel snapper in the back, featuring digital zoom, auto focus and LED flash. Both come with 1GB of RAM and 16GB of storage.
HTC EVO Design 4G
With some pretty good features at a great price, the HTC EVO Design 4G is the fifth member of the EVO family. A slightly smaller and more budget-conscious version of the classic EVO 4G, the Design comes with support for Sprint?s WiMax 4G speeds. Also geared for travelers, it has a GSM-friendly SIM card for overseas calls. Running Android 2.3, the EVO Design comes with a 1.2GHz processor, a 5-megapixel rear camera and a 1.3-megapixel front-facing camera. The new smartphone also offers an 8GB microSD card right out the box. Priced at just $99 with a two-year contract and a $50 mail-in rebate, the EVO Design is probably HTC?s best price for the value.
Download the free Appolicious Android app
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Groupon sizzles in public debut but worries linger
Andrew Mason, founder and CEO of Groupon, attends his company's IPO at Nasdaq, Friday, Nov. 4, 2011, in New York. Groupon, the company that pioneered online group discounts, has begun trading as a public company. The stock jumped nearly 50 percent in the opening minutes Friday. (AP Photo/Mark Lennihan)
Andrew Mason, founder and CEO of Groupon, attends his company's IPO at Nasdaq, Friday, Nov. 4, 2011, in New York. Groupon, the company that pioneered online group discounts, has begun trading as a public company. The stock jumped nearly 50 percent in the opening minutes Friday. (AP Photo/Mark Lennihan)
A display for Groupon is shown at the Nasdaq MarketSite, Friday, Nov. 4, 2011 in New York. Groupon had its IPO Friday. On Thursday, the company priced its IPO at $20 per share. That was above its expected range of $16 to $18. It gave Groupon a market value of $12.7 billion, above only Google?s among tech companies. (AP Photo/Mark Lennihan)
Employees and guests of Groupon, celebrate the company's IPO at Nasdaq, Friday, Nov. 4, 2011 in New York. CEO Andrew Mason is center rear. On Thursday, the company priced its IPO at $20 per share. That was above its expected range of $16 to $18. It gave Groupon a market value of $12.7 billion, above only Google?s among tech companies. (AP Photo/Mark Lennihan)
FILE - In this Sept. 22, 2011 file photo, employees at Groupon pose in silhouette with the company logo in the lobby of the online coupon company's Chicago offices. Daily deals company Groupon Inc.'s initial public offering is expected to price after the market closes Thursday, Nov. 3, 2011, with some analysts expecting the stock to price slightly above its current range of $16 to $18. (AP Photo/Charles Rex Arbogast, File)
A display for Groupon is shown at the Nasdaq MarketSite, Friday, Nov. 4, 2011 in New York. Groupon, the company that pioneered online group discounts, has begun trading as a public company. The stock jumped nearly 50 percent in the opening minutes Friday. (AP Photo/Mark Lennihan)
NEW YORK (AP) ? Groupon's stock sizzled in its public debut Friday despite concerns about its accounting practices ahead of an initial public offering and doubts about the viability of its business model.
The first-day pop for the pioneer of online group discounts was largely expected, though. Not even a gain of about $4 billion in market value ? to nearly $17 billion ? could erase lingering questions about its long-term prospects.
In fact, it may have added to them.
Bigger than IPOs for Internet radio company Pandora Inc. and professional network LinkedIn Corp., Groupon's debut served as an icebreaker for a frozen IPO market.
It further sets the stage for the public debut of online game company Zynga Inc., which is expected in the next few weeks. It'll culminate next year, with the expected IPO of Facebook, one dwarfing them all.
After pricing above its expected range on Thursday, at $20, Groupon's stock rose $6.11, or 31 percent, to close Friday at $26.11. Earlier in the day, it traded as high as $31.14.
Still, analysts remain worried about the risks concerning the company, especially as the stock price increases.
"Until investors see the full profit model unfold over time, expect this stock to be highly volatile," said Kathleen Shelton Smith, principal of Renaissance Capital, which operates IPOhome.com. "The first day of trading is typically more about supply and demand. Fundamentals will take over in the long run."
Groupon makes money by sending out frequent emails to subscribers offering a chance to buy discount deals for anything from laser hair removal to weekend getaways. The company takes a cut of what people pay and gives the rest to the merchant.
Because the model is easy to replicate, it has spawned many copycats after its 2008 launch, from startups such as LivingSocial to established companies such as Google Inc. and Amazon.com Inc. (which incidentally runs its deals through LivingSocial).
Groupon has the advantage of being first. This has meant brand recognition and investor demand, as evidenced by its strong public debut.
Nonetheless, Chicago-based Groupon Inc. has faced scrutiny about its high marketing expenses, enormous employee base and the way it accounted for revenue.
Groupon splits the money it collects from customers with merchants. But it reported all of its gross billings, not just the money it gets to keep, as revenue. After federal regulators questioned it, Groupon submitted new documents in September that showed that net revenue in the first half of this year was about half of what it originally reported.
Using the new accounting method, Groupon had revenue of $1.12 billion in the first nine months of the year. But it lost $308 million because of high operating expenses. The company spent $1.18 billion on such things as marketing to acquire new subscribers and running its business. Groupon went from 37 employees in June 2009 to 10,418 as of Sept. 30 this year.
By contrast, Google had revenue of $1.35 billion and net income of $143 million in the first six months of 2004 before going public that August. Other than its most recent quarter, LinkedIn has been profitable since last year.
For some longtime IPO watchers, Groupon's ascent is reminiscent of the late 1990s tech boom ? and bust.
One reason for that is its low "float," meaning Groupon is selling just 5.5 percent of its available shares. Though not unprecedented, the amount is below that of many prominent tech companies, such as Google (7.2 percent), Amazon (12.6 percent) and LinkedIn (8.2 percent).
"The retail investors buying the stock, I don't think they were around in the 2000 dot-com bust. I don't think they have a historical perspective of what happens over time," said Francis Gaskins, president of IPOdesktop.com. "They are buying based on emotion."
There's pent-up demand not just for tech IPOs, but IPOs in general, especially from U.S. companies, said Josef Schuster, CEO and founder of IPOX Schuster, an investment firm that specializes in IPOs. And the pre-Thanksgiving offering was good timing for Groupon because it will benefit from the holiday shopping period, he added.
Still, he believes it's a risky investment in the long run.
"Groupon fits very well into a late 1990s IPO," he said, citing its low float, which helped drive up demand on opening day.
Thursday's pricing gave Groupon a market value of $12.7 billion, below only Google's among tech company IPOs. With Friday's stock price jump, Groupon's value rose to $16.58 billion.
Though critics abound, not everyone believes Groupon is a disaster waiting to happen.
"They have a real business. They can really make money. They have a really large first-mover advantage," Wedbush analyst Michael Pachter said. "The downside is that it's not hard to do what they do."
Still, he said, the fact that Google tried to buy them ? in a $6 billion deal that Groupon rejected ? instead of doing a deals business of its own should account for something (Google eventually started its own deals service called Offers). Amazon's deals service, meanwhile, are powered by LivingSocial, Groupon's smaller rival in which Amazon owns a stake. Facebook tried its hand at deals but killed it off in August after four months of testing.
Pachter sees some similarities between Google, a first-mover in the online search market, and Groupon. There have been a lot of online search copycats but Google remains king. And there are opportunities for Groupon, such as targeting its deals beyond geography, based on people's interests and demographic profiles.
Another Internet darling, professional networking service LinkedIn, saw its stock soar to $122.70 on its opening day in May after pricing at $45. It's back up now, at $82 ? a possible pattern for Groupon in the coming months.
"I don't think from today's trading we can actually say what the long-term value of the company is," Pachter said. "Let's see what they do with the cash."
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Noches con Telenovelas
S?bado Gigante is an unholy mashup of The X Factor, Where In the World Is Carmen Sandiego?, Saturday Night Live, The Price Is Right, Kids Say the Darndest Things, The Gong Show, Lawrence Welk, Maury Povich, Charlie Rose, and whatever program involves little people in wrestler costumes gamboling with bikini-clad women. It?s splendidly surreal and fabulously entertaining?last Saturday, NPR?s Glen Weldon tweeted that S?bado Gigante is ?apparently designed by a committee of Pedro Almodovar, Merv Griffin & David Lynch.? It?s also a hit?last week?s show attracted 2.4 million viewers and was the night?s eighth-ranked show among U.S. viewers between the ages of 18 and 49.
Source: http://feeds.slate.com/click.phdo?i=20559c02b82747d93b4cd7501b028c9f
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Friday, November 4, 2011
Reading, math scores for fourth-graders (AP)
By The Associated Press The Associated Press ? Tue?Nov?1, 11:01?am?ET | A state-by-state look at the percentage of fourth-graders who scored at or above reading and math proficiency levels on the National Assessment of Educational Progress, NAEP, which is administered by the Education Department's National Center for Education Statistics. Proficiency levels in both subjects are shown for both 2009 and 2011, with reading scores in the first two columns and math scores in the next two. |
| 2009 2011 2009 2011 |
| Jurisdictions at or above proficient in reading at or above proficient in reading at or above proficient in math at or above proficient in math |
| National public 32 32 38 40 |
| Alabama 28 31 24 27 |
| Alaska 27 26 38 37 |
| Arizona 25 26 28 34 |
| Arkansas 29 30 36 37 |
| California 24 25 30 34 |
| Colorado 40 39 45 47 |
| Connecticut 42 42 46 45 |
| Delaware 35 36 36 39 |
| District of Columbia 17 19 17 22 |
| Florida 36 35 40 37 |
| Georgia 29 32 34 37 |
| Hawaii 26 27 37 40 |
| Idaho 32 33 41 39 |
| Illinois 32 33 38 38 |
| Indiana 34 33 42 44 |
| Iowa 34 33 41 43 |
| Kansas 35 36 46 48 |
| Kentucky 36 35 37 39 |
| Louisiana 18 23 23 26 |
| Maine 35 32 45 45 |
| Maryland 37 43 44 48 |
| Massachusetts 47 50 57 58 |
| Michigan 30 31 35 35 |
| Minnesota 37 35 54 53 |
| Mississippi 22 22 22 25 |
| Missouri 36 34 41 41 |
| Montana 35 36 45 45 |
| Nebraska 35 36 38 39 |
| Nevada 24 25 32 36 |
| New Hampshire 41 43 56 57 |
| New Jersey 40 44 49 51 |
| New Mexico 20 21 26 30 |
| New York 36 35 40 36 |
| North Carolina 32 34 43 44 |
| North Dakota 35 36 45 46 |
| Ohio 36 34 45 45 |
| Oklahoma 28 27 33 33 |
| Oregon 31 30 37 37 |
| Pennsylvania 37 41 46 48 |
| Rhode Island 36 35 39 43 |
| South Carolina 28 28 34 36 |
| South Dakota 33 31 42 40 |
| Tennessee 28 26 28 30 |
| Texas 28 28 38 39 |
| Utah 31 33 41 43 |
| Vermont 41 41 51 49 |
| Virginia 38 39 43 46 |
| Washington 33 34 43 45 |
| West Virginia 26 27 28 31 |
| Wisconsin 33 34 45 47 |
| Wyoming 33 34 40 44 |
| DoDEA 39 39 38 39 |
| Notes: DoDEA stands for Department of Defense Education Activity, which supervises schools on overseas military bases. Details may not sum to totals because of rounding. Some apparent differences between estimates may not be statistically significant. |
| Source: National Center for Education Statistics of the Education Department. |
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Copyright ? 2011 The Associated Press. All rights reserved. The information contained in the AP News report may not be published, broadcast, rewritten or redistributed without the prior written authority of The Associated Press.
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