রবিবার, ৩১ মার্চ, ২০১৩

Worst Allergy Season Ever?

Marlene Cimons writes for?Climate Nexus, a nonprofit that aims to tell the climate story in innovative ways that raise awareness of, dispel misinformation about, and showcase solutions to climate change and energy issues in the United States.? She contributed this article to LiveScience's Expert Voices: Op-Ed & Insights.

This spring could be the most miserable one ever for those of us with allergies, and we can blame it on climate change.?

People in the Northeast, in particular, will be among the hardest hit in the aftermath of Hurricane Sandy and this winter's record-setting blizzard, both of which dumped massive amounts of precipitation over the region.??

"[This] promises a robust allergy season,'' said Leonard Bielory, an allergy and immunology specialist with the Rutgers Center for Environmental Prediction in New Jersey, a state which suffered widespread destruction from Sandy.?

"The first airborne tree pollen has been measured in recent days, and while the count is still low, some allergy sufferers are showing comparatively severe symptoms,'' he added. "I expect more tree pollen than ever to be released this spring, and the reaction to the early pollen to be unusually strong.''

The planet is getting warmer, and human behavior is responsible. The changing climate has brought early spring, late-ending fall, and large amounts of rain and snow.? All of that, combined with historically high levels of carbon dioxide in the air, nourishes the trees and plants that make pollen, and encourages more fungal growth, such as mold, and the release of spores.?

We will be paying a wretched price in the coming months for the behavior fueling the explosion of pollen, which are the tiny reproductive cells found in trees, weeds, plants and grasses.? By all accounts, there will be more pollen this year than ever before.

"The trees are going to burst in the next week or two, and we will get a burst of pollen higher than in past years,'' said Bielory, who predicts that pollen counts will increase by 30 percent by 2020 and, "in a perfect test-tube world, will double by 2040 because of climate change.'' [Study: Pollen Counts To More Than Double By 2040]

Most trees release their pollen in the early spring, while grasses do so in late spring and early summer. Ragweed makes its pollen in the late summer and early fall.

And pollen production is only part of the impact that global warming is going to have on allergies and asthma ? and our health overall.

In areas of the country experiencing prolonged heat and drought, dust will worsen air pollution, exacerbating asthma and other respiratory diseases. In other regions, climate change will affect the insect population ? their stings and bites can provoke fatal allergic reactions in sensitive individuals ? as well as the proliferation of such vines as poison ivy. Poison ivy thrives with increased carbon dioxide, and as a result, now makes a far more potent urushiol ? the oil that causes poison-ivy-triggered rashes ? than in the past. [8 Ways Global Warming Is Already Changing the World]

Current evidence also suggests that climate change will increase the concentration of ground-level ozone, particularly in Northeastern, Midwestern and Western cities, causing an increase in respiratory diseases.

In short, if you have allergies or asthma, climate change is going to make you a lot sicker now and in the coming years.?

Allergic diseases are the sixth leading cause of chronic disease in the United States, with an annual cost of $18 billion, according to the federal Centers for Disease Control and Prevention. More than 50 million Americans suffer from allergies annually. ???????????

Asthma afflicts about 20 million Americans, and is rising around the world, according to the CDC. Moreover, some public health experts regard the global increase of asthma as an early health effect of climate change, and a harbinger of more health dangers to come.

In fact, one study published in the Journal of Allergy and Clinical Immunology called climate change "potentially the largest global threat to human health ever encountered,'' predicting more injury, disease and death from natural disasters, heat waves, infections and widespread malnutrition, as well as more allergic and air-pollution illnesses and death.

If you are lucky enough to be free from allergies, don't make the mistake of dismissing them as nothing more than a minor annoyance. Allergies can have a serious impact on the quality of life, and in some circumstances ? a bee sting, for example, or if they trigger an asthma attack ? they can kill.

"This is not just a matter of having a runny nose,'' said Jeffrey Demain, director of the Allergy, Asthma and Immunology Center of Alaska.? "Allergies affect the ability to go to work and go to school, and they affect school and work performance. They interfere with playing sports, social opportunities, how well you sleep, your relationships and your overall general happiness.''

On average, someone with allergic disorders experiences a quality of life 35 percent less than the general population, Demain said. "It really is quite dramatic,'' he said.

Allergies occur when the body's immune system overreacts to a substance that generally doesn't bother other people. The allergens can prompt sneezing, coughing, watery eyes and itching. In the years between 1970 and 2000, allergic rhinitis among Americans has risen from 10 percent to 30 percent, which correlates to similar increases in positive allergy skin-test results, according to Bielory.

Most experts believe the impact of climate change on allergic diseases will vary by region, depending on latitude, altitude, rainfall and storms, land-use patterns, urbanization, transportation and energy production. Drought, for example, will contribute to increasing air pollution, while heavy rain will wash the pollution away, but encourage the growth of mold.

Bielory and his colleagues, reporting in a 2011 study, showed that the ragweed-pollen season has become longer in northern areas of the country in recent years, and points to climate change as the reason this is happening.?

"We drew a line from Texas to Canada,'' he explained. "The pollen count duration remained the same in Texas, but changed as you moved north. Even though you are heading north to Canada, the pollen started earlier and ended later ? and it should have been shortening. This was due to earlier springs and the later onset of fall. Frost wasn't occurring as early as it used to, so ragweed was pollinating later.''

Pollen levels per plant are increasing as a result of escalating concentrations of carbon dioxide in the atmosphere, and the plants themselves are growing bigger, experts say.

"The increased pollen is probably a way for the plant to adapt,'' said Demain, who also is an associate clinical professor at the University of Washington. "They become larger and produce much more pollen. More people are going to develop asthma and allergies, and it's going to be severe.''

Stopping human activities that contribute to climate change might help future generations avoid these risks, but the rest of us ? like the plants themselves ? will have to adapt. We also can hope for a new medical breakthrough that will turn off the allergic response.?

In the meantime, stay inside and keep your windows closed.

The views expressed are those of the author and do not necessarily reflect the views of the publisher.

Copyright 2013 LiveScience, a TechMediaNetwork company. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Source: http://news.yahoo.com/worst-allergy-season-ever-132723585.html

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Geno, KC in feeling out stage

ReichGetty Images

New Dolphins DT Vaugn Martin says he had offers from the Pats, Eagles, Chargers, Chiefs, and Seattle.

Former Bills QB Frank Reich will hold his annual Call to Courage Award Breakfast on April 6; this year?s event includes a 20-year look back at the greatest comeback in NFL history.

WR Danny Amendola will wear No. 16 with the Pats, if it?s available.? (For now, it isn?t.)

The Jets won?t be hosting the Honey Badger before the draft, a fact that typically has little bearing on whether the player will be picked by the team in question.

Ravens secondary coach Teryl Austin is upbeat about the teams defensive backfield.

The Bengals will now try to find a safety, via free agency or the draft.

The Browns have ?very mild interest? in free-agent WR Domenik Hixon.

Former Steelers OL John Wiley died this week at the age of 92.? (He played in the first publicly-televised college football game, which was broadcast in 1939 by NBC.)

Former Texans LB Connor Barwin took out a newspaper ad thanking a variety of folks who helped his career in Houston ? including Jaguars QB Blaine Gabbert and ?my cleaning lady.?

Over the next couple of months, new Jaguars coach Gus Bradley will establish his vision for the team.

Colts QB Andrew Luck is among the candidates for the cover of an overhyped, underperforming football video game that inexplicably continues to sell millions of copies every year.

Someone actually believes that Ryan Fitzpatrick is an upgrade over Matthew Hasselbeck at backup quarterback for the Titans.

The Broncos hope to play as fast as possible on offense in 2013.

The Chiefs have explained the convoluted title of the man who once used the phrase ?programmatic non-fit? with a straight face.

Here?s a look at the Raiders? draft options with the third overall pick in 2013.

The agent for former Chargers LT Marcus McNeill says McNeill isn?t considering a comeback.

Cowboys QB Tony Romo talks about his new contract in a video that includes an image of Romo in front of a collection of trophies many think he?ll never touch and Romo?s young son rebuffing owner Jerry Jones? high-five attempt.

RB Tim Hightower?s workout with the Giants will occur early next week.

The Eagles reportedly have some lingering interest in OT Eric Winston.

The Redskins reportedly are eyeballing Miami CB Brandon McGee and Nevada safety Duke Williams.

The contract signed by new Bears OL Matt Slauson is worth more than the minimum salary.

Lions Hall of Famer Lem Barney has sued a former employer after he was fired for signing too many autographs.

CB Loyce Means, out of football in 2012, could be signed by the Packers early next week.

Should the Vikings focus on improving their front four?

The supposedly ultra-talented Falcons have a major hole at cornerback.

The effort to upgrade the Panthers? stadium with public money?continues to face opposition.

New Saints LB Victor Butler says that he was simply looking for a ?chance to compete and be a part of a winning team.?

How good will the Buccaneers? offensive line be in 2013, and beyond?

The Cardinals won?t be going to Flagstaff for training camp.

The Rams are ready to pull the plug on this year?s Pro Day circuit.

So who will be No. 2 on the depth chart behind Colin Kaepernick?

The Seahawks have put together 25 thinks to like about CB Richard Sherman on his 25th birthday.? (?Humility? is not on the list.)

Source: http://profootballtalk.nbcsports.com/2013/03/30/geno-smith-hopes-chiefs-are-legitimately-interested/related/

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Yemen's victory: Getting everyone in the same room - with no swords drawn

Even if?Yemen's ambitious national dialogue conference?fails to resolve crucial issues like constitutional reform, it can declare success simply for getting Yemenis to talk to each other.

By Adam Baron,?Correspondent / March 29, 2013

Yemeni participants take part in the National Dialogue Conference in Sanaa, Yemen, last week. The conference, which began last week and will last into the fall, can already celebrate one achievement: In this divided country, it has managed to get representatives from the bulk of the key factions in the same room.

Hani Mohammed/AP

Enlarge

Outspoken feminists rub shoulders ? metaphorically, at least ? with Salafis. Youth activists mingle with establishment politicians. A representative of the Houthis, a rebel group turned political movement that has fought with the government for the past decade, helps run the show. Delegates from the southern provinces constantly vying for autonomy casually cross conversational red lines on independence talk as others in the room veer on declaring secession treasonous.

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It will be months before anyone can say whether Yemen's ambitious national dialogue conference, slated to tackle major issues such as constitutional reform and restructuring the government, was a success.?But the conference, which began last week and will last into the fall, can already celebrate one achievement: In this divided country, it has managed to get representatives from the bulk of the key factions in the same room.

?You see all these currents with different interests and you wonder how they?ll reach agreement on one current for Yemen,? says Saadaldeen bin Taleb, minister of industry and trade and a participant in the conference representing the Southern Movement. ?Of course, this will go on for six months, and hopefully we?ll see real focus on the key issues. Still, let?s just say that this whole process is new to us.?

With the proceedings broadcast live, Yemenis across the country are able to tune in.

Expectations are as high as the anxiety over what will happen if the conference is derailed. Even at this early stage more than a dozen delegates have pulled out.?

Longstanding tensions are far from dissipating. Opening remarks have been punctuated by loud expressions of disagreement and an assassination attempt on a Houthi delegate left three of his companions dead, prompting the group to suspend its participation in the next day?s meetings.?Still, the Houthis have been emphatic about their commitment to the conference, and most participants are optimistic that the summit will bear fruit.

?The last week is an indication that we are building a base for a very serious dialogue,? says Mohamed Abu Lahoum, a participant who heads the liberal Justice and Building party. ?We have not heard any serious confrontation between any groups; I think we?ll soon see some reshuffling in terms of alliances. And by 2014 we will see the birth of a different Yemen.?

Few Yemenis oppose the idea of resolving the country's conflicts through dialogue, especially after two years filled with instability and sometimes violence, but anxiety that the dialogue will only lead to surface level reforms is prevalent.?Some bring up similar talks that preceded Yemen?s 1994 Civil War and stress that the picture is not all that different today: The military is still divided and there?s no guarantee that powerful, heavily entrenched members of the elite will honor the results of the dialogue.

Some prominent figures are sitting the conference out. A number of key leaders in the Southern Movement, an umbrella group of factions calling for a return to autonomy for the south, are boycotting, instead reiterating calls for outright secession. In rallies in the former southern capital of Aden, timed to coincide with the dialogue?s start, hundreds of thousands took to the streets to voice their rejection of the conference.

And days before its kickoff, a number of Sanaa-based delegates, including Nobel Laureate Tawakkol Karman, announced their pull-out, largely citing issues with representation and the performance of the transitional government.

?I can?t join in the dialogue in an atmosphere like this,? said Ahmed Saif Hashed, an outspoken, independent member of parliament who said his name was placed on the official list of participants without his knowledge. ?The government has failed to create the right conditions; military restructuring is incomplete and the center of power remains in the hands of forces who are inherently opposed to the modern, civil state we are looking for.?

Representation is a sore subject. Former President Ali Abdullah Saleh?s party holds the largest number of seats, and many say that establishment figures have been privileged at the expense of women and youth.

Still, most participants seem willing to shelve such concerns ? for now ? in hopes of encouraging an attempt at reconciliation. Even skeptical or apprehensive participants argue that, at the moment, it?s the best option the country has.

Yemeni activist Hamza al-Kamaly abandoned medical school in Cairo in 2011 to be a part of the change that began sweeping Yemen that year, putting his life on hold in order to become one of the most prominent voices among Yemen's young agitators for change. In a speech at the conference opening, Mr. Kamaly and his comrades stressed that even though Mr. Saleh is gone, the country's elites still hold much of the power and dreams of a ?new Yemen? and hopes of justice remain unfulfilled.

However, for once, the targets of his criticism were sitting in his audience, a product of the national dialogue's mission to bring together the country's most disparate groups.?

?This is the most important and transparent dialogue in the history of Yemen. We as the youth, along with other civil powers, had no choice but to participate ? regardless of our issues with some of those who are there,? Kamaly says. ?We?re hopeful, even if we appear to lack the power of participants. Still, we have not forgotten how to go to the streets, and we?re prepared to return if necessary.?

Source: http://rss.csmonitor.com/~r/feeds/csm/~3/ayoTr9WTWjI/Yemen-s-victory-Getting-everyone-in-the-same-room-with-no-swords-drawn

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শনিবার, ৩০ মার্চ, ২০১৩

Frontier Airlines To Suspend Trenton Flights Due To Runway Work

EWING, N.J. (AP) ? Frontier Airlines will suspend all flights at Trenton-Mercer Airport this fall while runway work is completed.

The airline announced Friday that the gap in service will last from Sept. 9 through Nov. 7.

During that time, the airport will upgrade its main runway with safety enhancements mandated by the Federal Aviation Administration.

Frontier recently announced that the planned shutdown of Trenton-Mercer Airport's air traffic control tower due to federal budget cuts won't affect service.

The airline is scheduled to begin service to Atlanta, Chicago-Midway, Columbus, Ohio, Detroit and Raleigh, N.C. next month. Frontier already flies between Trenton-Mercer and New Orleans, Fort Myers, Fort Lauderdale, Orlando and Tampa, Fla.

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Source: http://www.huffingtonpost.com/2013/03/30/frontier-airlines-trenton-flights_n_2980733.html

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'Nasty piece of work': Cloud over London's 'sunshine' mayor Boris Johnson

Matthew Lloyd / Getty Images, file

London mayor Boris Johnson (right) and Irvine Sellar, developer of the new skyscraper The Shard, cut a ribbon.

By Alastair Jamieson, Staff writer, NBC News

LONDON -- He is the goofy London mayor whose jovial self-deprecation and quick intellect have rescued him from a string of political missteps and personal indignities. But floppy-haired Boris Johnson?s happy-go-lucky reputation took a battering this week, just as he revealed his ambition to one day become Britain?s prime minister.

New York-born Johnson -- memorably caught on camera dangling from a broken zip-wire during the London Olympics?-- was accused of being a ?nasty piece of work? in a train-wreck television interview that surfaced a darker side to his persona.

The mayor was asked about a number of embarrassing episodes in his past including being fired from his former job as a reporter with The Times newspaper for making up a quote, losing his opposition cabinet role after lying to his Conservative party leader about an affair and the accusation that he agreed to provide a reporter?s address to his friend, a convicted fraudster, so the journalist could be beaten up.

There were no new revelations in Sunday?s interview, which was hardly in the mold of Frost vs Nixon. But the feline approach of BBC presenter Eddie Mair exposed a testy, evasive side to Johnson that observers say has undermined his affable public image.

?What?s remarkable is not that the interview happened but the fact that it hasn?t happened before,? said Johnson?s biographer, Sonia Purnell.

?He has always used his jovial fellow act and has never really been challenged like that in an interview until now.

?It is true that he is very charismatic, very clever and engaging. But there is a dark side to his character. He has a ferocious temper and he bears grudges.?

The clash was in stark contrast to Johnson?s winning encounter on ?Late Show with David Letterman? last year, when he entertained the studio audience and shrugged the gibe that he cut his own hair.

It has sparked a debate in Britain about whether the mayor, a keen cyclist and classical scholar whose full name is Alexander Boris de Pfeffel Johnson -- can still be taken seriously as a contender to replace David Cameron as prime minister and leader of his Conservative party.

Mair teased Johnson about his repeated refusal to admit that he harbors ambitions to replace Cameron, with whom he has a mild personal rivalry that dates back to their shared time at Eton, Britain?s most elite private school.

Jan Kruger / Getty Images, file

Britain's Prime Minister David Cameron and Mayor of London Boris Johnson warm up for a tennis match during the London Olympics.

?What should viewers make of your inability to give a straight answer to a straight question?" asked Mair, adding: ?You?re a nasty piece of work, aren?t you??

An online Guardian newspaper poll found 62 percent of its readers thought Johnson could no longer be considered a candidate for Britain?s top job. The interview ?was inevitably described as a car crash, but in the case of Johnson, it was more of a bicycle crash: spokes all over the road, wheels mangled and a reputation badly dented,? wrote the newspaper?s veteran political editor, Patrick Wintour.

Purnell added: ?I think it left a tidemark in people?s minds about Boris?s character.?

However, conservative commentator Toby Young said Johnson?s leadership prospects remain unchanged. ?It's an elementary rule of politics that if you have any skeletons lurking in your closet that are likely to make an appearance during an election campaign, better to get them out in the open now,? he wrote in the Daily Telegraph. ?Not only will it rob them of their bad juju, it will enable his supporters to claim -- yet again -- that he's popular?in spite of?his character flaws, not because the public isn't aware of them.?

Matthew Norman, in The Independent, asked: ?Boris would be a disastrous PM. So why do I quite like the idea?? He wrote: ?Life for diarists and political pundits would improve immeasurably, which strikes me as a very reasonable price to pay for the national shame of having Boris Johnson as prime minister.?

Johnson, 48, has long been a grassroots favorite to lead the Conservatives if Cameron stood down or lost office. However, to be prime minister he would first need to stand again for election to the House of Commons, which he quit in 2008 to run to be mayor of London. He is currently serving his second four-year term and has remained coy about whether he will quit early and return to parliament.

London mayor Boris Johnson attempts to make a dramatic entrance at an Olympic party?but gets stranded on a zip wire instead. NBCNews.com's Dara Brown reports.

His mix of conservative economics and liberal social values -- he supports gay marriage and an amnesty for immigrants -- helped secure his election in a city long dominated by left-of-center politics, but it may not sit well with the U.K.-wide Conservative party.

His personal morality may also hinder his progress: He has acknowledged a number of affairs and has been likened to Italy?s serial philanderer and former prime minister Silvio Berlusconi by satirical magazine editor Ian Hislop.

Then there is Johnson?s apparent lack of attention to detail. Purnell, who worked alongside him in the Brussels bureau of the Daily Telegraph, said: ?Some of the things he wrote were on the limits of the truth. He was, at best, creative.?

Max Hastings, a former editor of Johnson's during his time as a journalist, described Johnson as "utterly chaotic,"?adding: "Supposing he became prime minister, the idea of Boris Johnson's finger on the nuclear button ... one day he would get it mixed up with the one to call the maid."

However, there remains a lot of affection for a man whose unvarnished approach is a breath of political fresh air.

?He is a sunshine politician and people like that,? said Ross Lydall, chief news correspondent of London?s Evening Standard newspaper, which supports Johnson.

?The way he has improved life for cyclists in London is remarkable -- as a cyclist myself, it certainly puts a smile on my face. He represents a sense of optimism compared to the old, miserable municipal politics of London.?

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More trouble for Cohen's SAC Capital as Steinberg indicted in NY

By Nate Raymond and Matthew Goldstein

(Reuters) - U.S. prosecutors on Friday charged Michael Steinberg, a veteran portfolio manager at Steven A. Cohen's hedge fund, with insider trading in two technology stocks, the most senior SAC Capital Advisors' employee to be indicted in the government's long-running probe.

FBI agents arrested Steinberg at his Park Avenue home in New York City at around 6 a.m. EDT (1000 GMT). Steinberg, wearing a blue sweater, pleaded "not guilty" to charges of securities fraud and conspiracy to commit securities when he appeared at a late morning arraignment.

The five-count indictment charges Steinberg, 40, with using inside information to trade shares of computer maker Dell Inc and chipmaker Nvidia Corp in 2008 and 2009 that generated about $1.4 million in illegal profits for Cohen's $15 billion hedge fund.

In a related civil complaint against Steinberg, the U.S. Securities and Exchange Commission said the information allowed Steinberg to generate $6.4 million in profits and avoided losses for the hedge fund.

Barry Berke, Steinberg's lawyer, said in a statement that his client had done "absolutely nothing wrong" and his "trading decisions were based on detailed analysis."

The charges come after a tumultuous six months for Cohen, one of the most successful hedge fund traders. It began with last November's arrest of former SAC portfolio manager Mathew Martoma in what prosecutors had described as the largest U.S. insider-trading case.

Martoma pleaded not guilty to charges of insider trading in Elan Corp and Wyeth that allegedly resulted in profits and avoided losses totaling $276 million.

SAC Capital agreed two weeks ago to pay a $616 million penalty to the SEC to settle allegations of improper trading by the firm arising out of the Martoma investigation and alleged improper trading in Dell and Nvidia. SAC neither admitted nor denied wrongdoing as part of that settlement.

But a federal judge on Thursday said he was reserving his decision on approving the deal.

Mounting concern over the insider trading probe prompted outside investors in SAC Capital to submit redemption notices last month to withdraw up to $1.68 billion from Cohen's firm. Several outside investors, including Blackstone Group, declined to comment on Steinberg's arrest.

Cohen, a multi-billionaire, has not been charged with any wrongdoing. A well-known art collector, he recently purchased Pablo Picasso's "Le Reve" from casino owner Stephen Wynn for $155 million and, according to The New York Times, bought a $60 million oceanfront home in East Hampton, N.Y.

$3 MILLION BOND

Steinberg is one of nine current or former employees of SAC Capital who have been charged or implicated with insider trading while working at Cohen's two-decade-old hedge fund.

His arrest had been widely expected after Jon Horvath, a former SAC analyst who reported to Steinberg, pleaded guilty last year to using illegally obtained information to trade in Dell. Horvath has been cooperating with the government and had implicated Steinberg.

Steinberg was suspended last autumn from his post at SAC Capital's Sigma Capital division and remains on paid leave.

SAC Capital spokesman Jonathan Gasthalter said: "Mike has conducted himself professionally and ethically during his long tenure at the firm. We believe him to be a man of integrity."

Prosecutors have introduced emails that they said indicated Steinberg had access to inside information about potential weakness in Dell's earnings, in advance of the personal computer maker's August 2008 results announcement.

Federal authorities contend the improper trading by Steinberg largely involved short positions and derivative trades. The trades involving shares of Dell occurred in August 2008, while the trading in Nvidia took place in May 2009.

The SEC complaint said some of the trading in Dell was done by a SAC portfolio called SAC Select. People familiar with SAC Select said it used computer-driven trading strategies to mimic the trades of some of SAC Capital's top portfolio managers.

The complaint against Steinberg made no reference to Cohen, unlike the criminal and civil cases filed by against Martoma, which was the first time authorities had alluded to him as the "owner" of the hedge fund.

Steinberg had been moving among several hotels in New York City in recent weeks, according to Reuters sources, as he wanted to avoid being arrested at his Upper East Side home where he lives with his wife and two children.

Following the arraignment before U.S. District Judge Richard Sullivan in lower Manhattan on Friday morning, Steinberg was released after agreeing to post $3 million in bond, which was secured by $1 million in property.

During the proceeding, a federal prosecutor said no search warrant was served on the hedge fund in connection with the charges against Steinberg.

In announcing the $616 million settlement with SAC Capital, lawyers with the SEC made clear the deal did not preclude further charges against individuals or from other trading at SAC Capital that is still be investigated. As part of that settlement, SAC Capital agreed to pay $14 million to settle charges of improper trading in Dell.

On Thursday, a federal district judge reviewing the part of the settlement involving trading in shares of Elan and Wyeth, now a part of Pfizer, said he was reserving decision for now.

The cases in U.S. District Court, Southern District of New York are: United States v. Steinberg, No. 12-cr-121, and Securities and Exchange Commission v. Steinberg, No. 13-2082.

(Additional reporting by Svea Herbst-Bayliss, Katya Wachtel and Sruthi Ramakrishnan; Editing by Tiffany Wu, Maureen Bavdek and Leslie Gevirtz)

Source: http://news.yahoo.com/former-sac-capital-portfolio-manager-steinberg-arrested-fbi-114324817--sector.html

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Smith leads Louisville to 77-69 victory over Ducks

INDIANAPOLIS (AP) ? Louisville coach Rick Pitino is baffled by Russ Smith.

Not by the star guard himself, who is managing to outdo himself each time he steps on the court. No, Pitino doesn't understand why the rest of the country isn't as impressed with Smith as he ? and every opponent who's faced him ? is.

"I look at (player of the year) lists, and I don't see Russ Smith. I don't see him on the All-America teams," Pitino said. "I'm baffled, just baffled, because it wasn't like he was a Johnny-come-lately. He carried us on his back to a Final Four last year."

And he's one game from doing it again.

With Louisville having a rare off night, Smith lifted the Cardinals to a 77-69 victory over Oregon on Friday that put them in the Midwest Region finals. He matched his career high of 31 points, including seven during what would wind up being the game's decisive run.

Smith is averaging 27 points through the first three games of the tournament.

"Russ Smith is a talented young man," Oregon coach Dana Altman said. "When he got going, we didn't have an answer."

Louisville (32-5) plays Duke on Sunday, the first time Pitino and Mike Krzyzewski have met in a regional final since Christian Laettner's shot in 1992.

The 12th-seeded Ducks managed to make a game of it, though, which is more than most of Louisville's recent opponents can say.

After Louisville went up 66-48 with 9:01 left, Oregon made six straight field goals to close to 70-64. But Kevin Ware scored on a layup and Chane Behanan threw down a monstrous dunk to put the game out of reach.

Ware finished with 11, topping his previous career best by one, and Gorgui Dieng had 10 points, nine rebounds and four blocked shots.

E.J. Singler's 15 points led five Ducks in double figures. But Damyean Dotson had an off night, held without a field goal until five minutes were gone in the second half, and Oregon could never recover from its poor start.

Early foul trouble didn't help, with Johnathan Loyd picking up his third before halftime and Dominic Artis and Carlos Emory playing the last six minutes of the half with two.

"If it wasn't for the beginning, it would have been a completely different game," Loyd said. "We just came out, we weren't ready and we got smacked. If we were playing the way were playing in the second half the whole game, it's a completely different story."

The Cardinals were barely tested in either of their first two games in the NCAA tournament, beating North Carolina A&T by 31 and Colorado State by 26. They set an NCAA tournament record with 20 steals against A&T, outrebounded one of the country's best rebounding teams in Colorado State and left both teams with ugly shooting lines.

But a hacking cough that Smith has had the last few days is making its way around the Louisville team, and it was clear from the start this wasn't going to be another juggernaut performance by the Cardinals.

Peyton Siva spent the last 15:19 of the first half on the bench after picking up his second foul, and Louisville wasn't nearly as stingy on defense as it's been. The Cardinals (13) actually had more turnovers than the Ducks (12), and Oregon is only the third team to shoot 44 percent or better during Louisville's winning streak.

Thanks to Smith, however, the Cardinals finished like they always do lately: with a win.

After Siva went out, Smith hit a 3 to spark a 14-3 run that put Louisville up 24-8. When he capped the spurt with a layup, it was Russ Smith 9, Oregon 8.

"We really dug ourselves a big hole," Singler said. "We tried to figure back as much as possible, but Louisville's a really, really good team. They just played better than us today."

But the Ducks aren't a team that gives in.

After losing six of their last 11 regular-season games, the Ducks have been on a tear. They won the Pac-12 tournament, then upset Oklahoma State and Saint Louis last weekend.

They went on a 16-4 run that cut Louisville's lead to six points, the smallest it had been since the opening minutes of the game.

"We watched film and seen how they run, and we kind of figured out that would happen," Chane Behanan said.

Instead of panicking, the Cardinals regrouped and regained control. After Ware and Behanan's baskets, Smith shot 3-of-4 from the line to seal the win.

"Coach has been telling me to fight through (his cold), fight through it, dig in. My teammates as well," Smith said. "We're fighting through it and just doing whatever we can to get a win."

Source: http://news.yahoo.com/smith-leads-louisville-77-69-victory-over-ducks-013024595--spt.html

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Finals Preview? Heat visit Spurs on Sunday

By the time the Miami Heat get on their plane to come home late Sunday night, they could have a stranglehold on the race to finish with the NBA's best record.

All they have to do is win at San Antonio. That, of course, is no easy task.

The Heat (57-15) take a two-game lead in the NBA standings over the Spurs (55-17) into their matchup on Sunday. A win would essentially provide Miami a four-game cushion with nine remaining, given that the Heat also would control any potential head-to-head tiebreaker with San Antonio.

If the Heat lose, the race for home-court advantage throughout the entirety of the playoffs could turn into a frantic, down-to-the-wire deal.

"It's always good to play the best, to play against the best," LeBron James said. "It'll be an opportunity for us. We just want to get better, man. The game Sunday doesn't define our season or how we go from there. We just want to continue to move forward and get better throughout the rest of the season."

Miami has won 28 of its last 29 games overall, getting back on the winning track at New Orleans on Friday, two days after Chicago snapped a 27-game Heat winning streak. But San Antonio has won 28 of its last 30 games at home, and facing the Spurs on the road is traditionally a painful expedition for many members of the Heat ? as it tends to be for everyone else in the NBA.

Dwyane Wade is 1-4 at San Antonio, sitting out three other Heat losses there during his career. Chris Bosh is 1-7. James is 3-7. Shane Battier ? a longtime player in the Western Conference ? has enjoyed eight wins from the visitors' side when facing the Spurs, and also been on the losing end 16 times there.

"It's obviously a very, very, very good team," Wade said. "Very tough place to play, so I think our mentality and how we approach the game is going to be important. You just try to go out there and compete, as we do every night, try to get a great road win. It's not going to be easy but that's kind of what we enjoy."

The only other meeting between the clubs this season was Nov. 29 in Miami, a strange game in that Spurs coach Gregg Popovich ? citing a desire to rest his best players at the end of a long road trip ? sent Tim Duncan, Manu Ginobili, Tony Parker and Danny Green home before the game.

With guys like Patty Mills, Nando De Colo and Matt Bonner filling out the starting lineup ? they've combined to make four other starts this season ? the Spurs almost beat the Heat anyway, leading by five with 2:13 left before getting outscored 12-2 in a wild Miami finish that gave the Heat a 105-100 win.

Ginobili played just under three minutes in Friday night's win over the Los Angeles Clippers because of a hamstring issue, and Popovich indicated he probably won't be ready to face the Heat.

"I don't think he can play," Popovich said.

The Spurs have won six of their last seven games. Of those six wins, only one came by double figures, an 11-point victory over Golden State. The average margin of the other five wins in that span, over Dallas, Cleveland, Utah, Denver and Clippers was 3.4 points, and the only loss was a one-pointer at Houston.

"It's great challenges, good preparation for us for the playoffs," Parker said. "Denver is a great team, Clippers a great team and now we've got Miami. They're the best in the league. They went on the unbelievable run and it's going to be another great game."

This game could have been one of the most-watched among regular-season games in years if Miami had not lost in Chicago on Wednesday. Had the Heat won there and won in New Orleans, as they did on Friday, they would have been going for their 30th straight win on this trip to San Antonio in what will be touted either way as a potential NBA Finals preview.

"I just want you to know the Heat are going to be just fine," said President Barack Obama, a noted Bulls fan during a stop in Miami on Friday. "They're going to be OK. They are playing basketball the right way."

The Heat streak is gone, but standings-wise, it's still a big deal.

"Very good team, obviously the defending champs," Duncan said. "I think they won 62 in a row or something like that. It'll be a great game. I know our crowd will be excited and we'll be excited to continue our homestand."

Heat coach Erik Spoelstra has said everyone on his roster should be considered day-to-day for the remainder of the regular season. This is when teams like to ensure that players get some rest wherever they can.

And the No. 1 seed in the Eastern Conference is already clinched, meaning all that's really left on the Heat to-do list before the opening round of the playoffs is finish atop the NBA's regular-season standings.

"The mindset will be, first and foremost, playing our game and making sure that we establish our identity," Spoelstra said. "That's the whole thing with us. When we do that and play the way we're capable, results take care of themselves.

"We don't want to get caught up in too much of the results. We have a big goal in mind. That's the No. 1 goal and that's the only goal we've talked about."

Source: http://news.yahoo.com/finals-preview-heat-visit-spurs-sunday-151540281--spt.html

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Deal of the Day ? HP ENVY h8-1520t Core i7 desktop PC plus a 23? LED monitor

Saturday’s LogicBUY Deal is the?customizable HP ENVY h8-1520t Core i7 desktop PC with a?free 23″ HP w2371d 1080p LED-backlit LCD monitor, with prices starting at $749.99. ?Features: Core i7-3770 3.4GHz Quad-core CPU 8GB RAM 1TB hard drive and 15-in-1 card reader 1GB Radeon HD 7570 USB 3.0 ports Wireless-N Beats Audio Wireless keyboard and mouse [...]

Source: http://the-gadgeteer.com/2013/03/30/deal-of-the-day-hp-envy-h8-1520t-core-i7-desktop-pc-plus-a-23-led-monitor/

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Why Give Corporations a Tax Break? by Laura Tyson - Project ...

BERKELEY ? US President Barack Obama has called for additional revenue as part of a balanced plan to reduce future budget deficits. But he is also proposing a significant cut in the corporate tax rate. To many, this approach seems inconsistent: Shouldn?t the corporate tax rate be raised, not lowered, so that corporations contribute their ?fair share? to deficit reduction? The answer is no.

After its 1986 tax overhaul, the United States had one of the lowest corporate tax rates among OECD countries. Since then, these countries have been slashing their rates in order to attract foreign direct investment and discourage their own companies from shifting operations and profits to low-tax foreign locations. In the most recent and audacious move, the British government has embarked on a three-year plan to reduce its corporate tax rate from 28% to 20% ? one of the lowest in the OECD ? by 2015.

The US now has the highest corporate tax rate of these countries. Even after incorporating various deductions, credits, and other tax-reducing provisions, the effective average and marginal corporate tax rates in the US ? what corporations actually pay ? are higher than the OECD average.

Cutting the rate to a more competitive level would encourage more domestic investment by US corporations, and would also make the US more attractive to foreign investors. Capital has become increasingly mobile, and differences in national corporate tax rates have a growing influence on where multinational companies locate their operations and report their income.

Higher investment in the US by both domestic and foreign companies would boost economic growth, while the resulting increase in capital ??new businesses, factories, equipment, and research ?would improve productivity. That should, in turn, boost real wages over time (although the link between productivity growth and wage growth has weakened during the last two decades).

The pro-growth rationale for reducing the US corporate tax rate is compelling, and explains why Obama has proposed cutting it from 35% to 28% (roughly the weighted average rate of the other developed countries).

But a rate cut would be costly in terms of foregone revenues: each percentage point would reduce corporate-tax revenues by about $100 billion over the next decade. Moreover, recent studies indicate that a significant share of the corporate-tax burden falls on capital, so a reduction in corporate taxes would weaken the progressivity of the tax system at a time when income inequality is at an all-time high.

For these reasons, Obama is championing a ?revenue-neutral? reform that would leave corporate-tax revenues unchanged, with the proposed rate cut financed by limiting deductions, credits, and loopholes, which would broaden the tax base.

These features add complexity to the tax code, raise the cost of tax compliance, and reduce corporate-tax revenues. They also affect business decisions about what to invest in, how to finance investments, which form of business organization to adopt, and where to produce ? reflecting sizeable differences in the effective tax rates behind these choices.

As a result, broadening the corporate tax base will not be easy. Within the corporate sector, the three largest domestic tax preferences are the manufacturing production deduction, the credit for research and development, and accelerated depreciation of capital. Manufacturing companies are the major beneficiaries of these preferences, and Obama has proposed strengthening the first two.

Instead, he suggests reforming the third by tightening allowances for accelerated depreciation (as several other developed countries have done) in order to offset some of the revenue losses. But reducing the overall corporate rate would increase after-tax returns on past investments, while limiting accelerated depreciation would lower after-tax returns on new investments. And even eliminating accelerated depreciation would not broaden the tax base enough to finance a rate cut to 28%.

Likewise, while limiting the deductibility of net interest for corporations, as many other developed countries have done, would broaden the tax base and discourage excessive reliance on debt financing, it would increase the tax burden on major investments in physical capital, which are often debt-financed.

Reducing the tax preferences for non-corporate business entities (such as partnerships) that pass their income through to their owners? individual returns would also broaden the tax base subject to the corporate-income tax. Pass-through companies now account for more than 80% of net business income (by far the highest share in the developed countries). Several of these entities are very large and profitable, and enjoy the same legal benefits as corporations. Economic logic suggests that businesses of similar size and engaged in similar activities should not pay different tax rates based solely on their organizational form.

The fact that a large share of business income is currently taxed as personal income makes it difficult to separate corporate tax reform from personal tax reform, as Obama and members of Congress would prefer to do. Moreover, keeping the two areas of reform separate rules out the approach adopted by several other developed countries, which have offset some of the revenue losses from cutting corporate tax rates by increasing taxes on corporate equity income at the personal shareholder level.

This approach also addresses concerns about the regressive effects of a cut in the corporate rate. It is both more progressive and more effective: with highly mobile capital, it is far easier to collect taxes from individual citizens and resident shareholders than from multinational companies.

According to a recent study, restoring tax rates on dividends and capital gains to their pre-1997 levels of 28% could finance a reduction in the US federal corporate tax rate from 35% to 26%. This change would both reduce the incentive for corporations to shift investments abroad and increase the progressivity of the US tax system.

Similarly, a modest carbon tax or value-added tax, with credits or subsidies to offset the regressive effects on low-income households, could generate enough revenue both to pay for a significant reduction in the corporate tax rate and to make a meaningful contribution to deficit reduction.

There is no inconsistency between a progressive, balanced deficit-reduction plan and lowering the corporate tax rate. Of all taxes, corporate taxes are the most harmful to economic growth ? without which meaningful deficit reduction is far more difficult to achieve.

Reprinting material from this Web site without written consent from Project Syndicate is a violation of international copyright law. To secure permission, please contact us.

Source: http://www.project-syndicate.org/commentary/cutting-us-corporate-taxes-to-stimulate-growth-by-laura-tyson

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CDC Launches New Graphic Antismoking Ads - Health News and ...

terrie CDC Launches New Graphic Antismoking Ads

By Steven Reinberg
HealthDay Reporter

THURSDAY, March 28 (HealthDay News) ? A new round of ads featuring emotionally charged tales of smokers who have suffered the ravages of smoking are on the way, federal health officials announced Thursday.

?Last year?s campaign exceeded our very high expectations, and this year?s campaign continues in that vein of showing the realities of smoking,? Dr. Tom Frieden, director of the U.S. Centers for Disease Control and Prevention, said during a late-morning press conference.

?It takes what we as doctors see day in and day out and draws back the curtain from the examining room and shows the realities smokers live with day in and day out,? he said.

These ads work, Frieden said. ?They save lives and they save money,? he said. ?Today and every day this year, more than 1,200 people will be killed by tobacco, and today and throughout this year 8 million people are living with disease, disability and disfigurement caused by tobacco ? that?s the reality.?

Building on the success of the first ads released last year, the new ads will air on TV and radio and appear on billboards starting April 1 and run for 12 weeks, according to the CDC.

Dr. Jonathan Whiteson, director of the cardiac and pulmonary wellness and rehabilitation program at the Rusk Institute of Rehabilitation Medicine at NYU Langone Medical Center in New York City, said the graphic ads can get current and potential smokers to take note.

?But these campaigns must be followed by comprehensive programs ? and that means government spending ? to help people quit and stay quit,? Whiteson said.

The new ads tell highly emotional stories of real smokers whose lives were changed for the worse by smoking, and also of those who suffered from being exposed to secondhand smoke.

People featured in the ads have a variety of smoking-related conditions, such as chronic obstructive pulmonary disease (COPD), severe adult asthma and complications from diabetes, such as blindness, kidney failure, heart disease and amputation.

In one ad, Tiffany, whose mother died of lung cancer when she was 16, recently quit smoking so her own daughter ? who had just turned 16 ? would not suffer the way she did.

Another ad features Bill, a 40-year-old with diabetes whose smoking led to heart surgery, blindness in one eye, amputation and kidney failure.

Bill offers this tip in the ad: ?Make a list. Put the people you love at the top. Put down your eyes, your legs, your kidneys and your heart. Now cross off all the things you?re OK with losing because you?d rather smoke.?

Then there is COPD sufferer Michael, who agonizes over how to tell his grandson ?he may not be around to share his life much longer.? Another ad features Nathan, who has severe lung damage from being exposed to secondhand smoke at work.

In addition, there is a new ad featuring Terrie Hall, who in previous ads showed what someone with head and neck cancer has to do to ?get ready for the day.? In the new ad, she wishes she had recorded herself before her voice box was removed, so that her grandson could have heard her normal voice.

An antismoking advocacy group praised the decision to run a second round of ads.

?We applaud the CDC and the Obama administration for continuing this national media campaign and for their leadership in the fight against tobacco use,? Matthew Myers, president of the Campaign for Tobacco-Free Kids, said in a statement.

?The CDC?s campaign is a smart investment that will save lives and save money by reducing tobacco-related health care costs, which total $96 billion a year in the United States,? Myers said.

?Tobacco companies spend $8.5 billion a year ? nearly $1 million every hour ? to market their deadly and addictive products, often in ways that entice kids,? he said. ?The CDC?s campaign tells the harsh truth about how devastating and unglamorous cigarette smoking truly is.?

According to the CDC, last year?s ads had a strong impact across the country, more than doubling calls to the government?s 1-800-QUIT-NOW phone line during the 12 weeks of the campaign.

Each year, more than 440,000 Americans die from smoking-related diseases, and for every death, 20 more people are living with one or more serious illnesses from smoking. Nearly 70 percent of smokers say they want to quit, according to the CDC.

More information

To find out more about how to quit smoking, visit Smokefree.gov.

HEALTHDAY Web XSmall CDC Launches New Graphic Antismoking Ads

Source: http://news.health.com/2013/03/28/cdc-launches-new-graphic-antismoking-ads/

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Mar 27 - Downloaders face personal legal warnings as US steps up ...

As new download detection and copyright protection systems are phased into effect stateside, suspected violators have begun to receive warnings of ?serious legal and other consequences? from media companies like NBC Universal.

In one instance, a user of the popular file sharing system BitTorrent was dispatched a notice from the media giant for allegedly downloading a television show.

According to TorrentFreak, NBC Universal sent the threatening notice to a user accessing the web through an Internet provider that is currently not participating in the 'six strike' system that detects and punishes Internet customers of several American providers who download illegally. The notice was similar to what copyright violators connected to the web using 'six strike' ISPs have begun to receive - and the language used in the notice is markedly more aggressive.

In addition to the threat of criminal prosecution, the notice sent to the downloader included the potential termination of their Internet service account.

?Copyright infringement also violates your Internet Service Provider?s terms of service and could lead to limitation or suspension of your Internet service.?

Under the new 'six strike' rules, by comparison, affiliated Internet providers are not compelled to disconnect file sharers, though more ambiguous consequences are said to include a slowdown in access speeds for repeat offenders, blocked access to popular websites, and even compulsory copyright education courses.

Downloaders face personal legal warnings as US steps up copyright protections ??? RT USA

Source: http://slumz.boxden.com/f5/mar-27-downloaders-face-personal-legal-warnings-us-steps-up-copyright-protections-1903905/

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Common gene variants explain 42% of antidepressant response

Mar. 28, 2013 ? Antidepressants are commonly prescribed for the treatment of depression, but many individuals do not experience symptom relief from treatment. The National Institute of Mental Health's STAR*D study, the largest and longest study ever conducted to evaluate depression treatment, found that only approximately one-third of patients responded within their initial medication trial and approximately one-third of patients did not have an adequate clinical response after being treated with several different medications. Thus, identifying predictors of antidepressant response could help to guide the treatment of this disorder.

A new study published in Biological Psychiatry now shares progress in identifying genomic predictors of antidepressant response.

Many previous studies have searched for genetic markers that may predict antidepressant response, but have done so despite not knowing the contribution of genetic factors. Dr. Katherine Tansey of Institute of Psychiatry at King's College London and colleagues resolved to answer that question.

"Our study quantified, for the first time, how much is response to antidepressant medication influenced by an individual's genetic make-up," said Tansey.

To perform this work, the researchers estimated the magnitude of the influence of common genetic variants on antidepressant response using a sample of 2,799 antidepressant-treated subjects with major depressive disorder and genome-wide genotyping data.

They found that genetic variants explain 42% of individual differences, and therefore, significantly influence antidepressant response.

"While we know that there are no genetic markers with strong effect, this means that there are many genetic markers involved. While each specific genetic marker may have a small effect, they may add up to make a meaningful prediction," Tansey added.

"We have a very long way to go to identify genetic markers that can usefully guide the treatment of depression. There are two critical challenges to this process," said Dr. John Krystal, Editor of Biological Psychiatry. "First, we need to have genomic markers that strongly predict response or non-response to available treatments. Second, markers for non-response to available treatments also need to predict response to an alternative treatment. Both of these conditions need to be present for markers of non-response to guide personalized treatments of depression."

"Although the Tansey et al. study represents progress, it is clear that we face enormous challenges with regards to both objectives," he added. "For example, it does not yet appear that having a less favorable genomic profile is a sufficiently strong negative predictor of response to justify withholding antidepressant treatment. Similarly, there is lack of clarity as to how to optimally treat patients who might have less favorable genomic profile.."

Additional research is certainly required, but scientists hope that one day, results such as these can lead to personalized treatment for depression.

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Story Source:

The above story is reprinted from materials provided by Elsevier, via AlphaGalileo.

Note: Materials may be edited for content and length. For further information, please contact the source cited above.


Journal Reference:

  1. Katherine E. Tansey, Michel Guipponi, Xiaolan Hu, Enrico Domenici, Glyn Lewis, Alain Malafosse, Jens R. Wendland, Cathryn M. Lewis, Peter McGuffin, Rudolf Uher. Contribution of Common Genetic Variants to Antidepressant Response. Biological Psychiatry, 2013; 73 (7): 679 DOI: 10.1016/j.biopsych.2012.10.030

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

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

Source: http://feeds.sciencedaily.com/~r/sciencedaily/top_news/top_health/~3/z5l4WA6eDzU/130328091730.htm

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Video: PFT: Getting to know Alabama's Lacy

Sorry, Readability was unable to parse this page for content.

Source: http://nbcsports.msnbc.com/id/21134540/vp/51355541#51355541

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Florida university under fire over "Jesus" classroom exercise

MIAMI (Reuters) - A Florida university has come under fire over a professor's controversial classroom assignment that asked his students to write "Jesus" on a sheet of paper and then to step on it.

The incident earlier this month at the Florida Atlantic University in Boca Raton, Florida, has prompted the school to issue an apology and led to a call from Florida's Republican Governor Rick Scott for an investigation.

"I am deeply disappointed in the recent actions of Florida Atlantic University faculty that raises significant questions over students' rights and the lessons being taught in our classrooms," Scott wrote in a letter to the head of Florida's state university board on Tuesday.

The classroom exercise was conducted as part of a course on intercultural communication at the public university.

It called for students to write the words "Jesus" in big letters on a piece of paper, place it on the floor and then to step on the paper. Students were then asked to describe how they felt.

School officials said the instructor told students they could choose whether to participate in the exercise, which was based on an example in a study guide to a course textbook and intended to provoke a discussion of cultural symbols.

In a recent statement, Florida Atlantic University said it will no longer use the exercise after it sparked criticism from some students.

"It was insensitive and unacceptable. Based on the offensive nature of the exercise, we will not use it again and have issued an apology to the community," the statement said.

In his letter, Scott said he wanted more than just an apology from the school.

"The professor's lesson was offensive, and even intolerant, to Christians and those of all faiths who deserve to be respected as Americans entitled to religious freedom," he wrote.

"I'm requesting a report of the incident, how it was handled and a statement of the university's policies to ensure this type of 'lesson' will not occur again," Scott added.

(Reporting by Kevin Gray; Editing by Cynthia Osterman)

Source: http://news.yahoo.com/florida-university-under-fire-over-jesus-classroom-exercise-233947299.html

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Exclusive: Cerberus seeks to bankroll investor landlords

By Matthew Goldstein

NEW YORK (Reuters) - Private equity firm Cerberus Capital Management wants to provide financing to small investment firms that are buying foreclosed homes as part of a long-term bullish bet on the housing recovery, according to four sources familiar with the situation.

Cerberus is targeting investment firms that are looking to buy a small number of homes in niche housing markets in the U.S. and rent them out, the sources said. These investors cannot tap the much larger financing deals being put together by banks such as Deutsche Bank, Credit Suisse, and Goldman Sachs Group for institutional buyers of foreclosed homes.

Cerberus' financing deals will be small, under $25 million, and many will be for less than $10 million, the sources said, declining to be identified as the new loan product has not been announced. A spokesman for Cerberus declined to comment.

The move by the New York-based firm, with $20 billion under management, comes amid a rush over the past year by investor groups seeking to raise cash to buy up cheap homes.

The U.S. Federal Reserve has held mortgage rates near record lows, helping to fuel the housing market recovery. A drop in the flow of foreclosed homes coming on to the market has also helped to push up home prices, which soared 8.1 percent in January in 20 metropolitan areas tracked by S&P/Case Shiller, the biggest 12-month rise since June 2006.

The National Association of Realtors said in February that roughly 32 percent of all single-family homes were purchased in all-cash transactions. Historically, the realtor group said all-cash deals have represented no more than 20 percent of all transactions.

But many all-cash buyers also are leveraging themselves with cheap loans from banks.

Large institutional investors - led by private equity firm Blackstone Group, upstart firm American Homes 4 Rent and real estate firm Colony Capital - will spend up to $10 billion over the next two years to buy distressed single family homes, housing analysts estimate. That is part of a strategy to first rent out the homes and later sell them at a profit.

So far, Blackstone is the most aggressive national buyer of homes sold at foreclosures auctions or by banks, amassing a portfolio of about 20,000 homes in largely a half-dozen states. The private equity firm has confirmed spending $3.5 billion on its acquisition strategy. Blackstone also recently secured up to $2.1 billion in bank financing led by Deutsche Bank.

Cerberus' target investor operates on a much smaller scale. A website set up by the firm in February for the new lending platform, called First Key Lending, said Cerberus will provide "innovative financing solutions for stabilized portfolios of 1-4 family U.S. residential properties."

Some housing analysts have said that spending by big institutional buyers has driven up prices for single family homes and made it difficult for smaller investor groups to compete at foreclosure auctions and inventory sales by banks.

The people familiar with Cerberus' plan said the firm could look at some point to package the loans into a securitized note that could be sold to investors to reduce risk if housing prices were to suddenly fall and imperil the ability of investors to pay back the loan.

Cerberus, founded in 1992, has specialized over the years in investing in distressed companies and debt. The firm has portfolios that invest in mortgage-backed securities and non-performing residential loans.

The firm has been looking at the market for foreclosed homes for a year. Cerberus began studying the market when rival firms like Blackstone made the plunge into the market for distressed single-family homes last March.

(Reporting By Matthew Goldstein; Editing by Paritosh Bansal and Chris Reese)

Source: http://news.yahoo.com/exclusive-cerberus-seeks-bankroll-investor-landlords-160140180--sector.html

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HBT: Jeter backing off, trying to eliminate pain

By backdating his season-opening stint on the disabled list Derek Jeter is eligible to play for the Yankees on April 6, but it sounds like that has little chance of happening.

Jeter last played in a minor-league game Saturday, serving as a designated hitter, and general manager Brian Cashman told Bryan Hoch of MLB.com that he won?t play in another game until next week at the earliest.

?We?re just trying to back off and eliminate the pain,? Cashman said. ?We?ll back off completely. He won?t be doing anything; he won?t be playing any games here for the next few days.?

That obviously doesn?t sound like the plan for someone who?ll be ready for play regular season games by April 6, so the Yankees are looking at Eduardo Nunez as their starting shortstop for a while.

Source: http://hardballtalk.nbcsports.com/2013/03/28/brian-cashman-on-derek-jeter-were-just-trying-to-back-off-and-eliminate-the-pain/related/

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Palestinian journalist gets jail term for Abbas insult

By Noah Browning

RAMALLAH, West Bank (Reuters) - A Palestinian court sentenced a local journalist to a year in jail on Thursday over a picture posted on Facebook that was deemed insulting to President Mahmoud Abbas.

The ruling against Mamdouh Hamamreh, who works for the al-Quds TV channel in Bethlehem, is the second this year in which Palestinians have been given jail terms over caricatures of the president.

Journalists and media watchdogs, saying Hamamreh was only "tagged" in the photo and did not create it, criticized the ruling and curbs on media freedom by the Western-backed Palestinian Authority.

The offending image juxtaposed Abbas beside a similar-looking man who plays the part of a collaborator with French colonial forces in an old Syrian television drama.

"They resemble each other in everything," a caption read.

Many Palestinians perceive Abbas as too conciliatory to Israel and resent coordination between Israeli and Palestinian security forces overseen by Abbas.

Palestinian rights groups were critical of the ruling.

"(Hamamreh) didn't even publish the picture. When images online are criminalised, it's a very serious violation of basic rights of expression," criminalizedaid Riham Abu Aita of the Palestinian Centre for Development and Media Freedoms.

"We don't have a king, we have a president," she said.

"This issue is between the prosecutor and the court, and the president has nothing to do with its proceedings," Hassan al-Ouri, legal adviser to Abbas, told Reuters of the Hamamreh case.

A court in the northern West Bank city of Nablus in February sentenced a local man to a year in prison for creating a picture of Abbas to make him look like a football player, and entitled it "the new striker for Real Madrid".

Anas Awad, 26, denied he had intended any offence and the president promptly pardoned him.

(Additional reporting by Ali Sawafta; Editing by Michael Roddy)

Source: http://news.yahoo.com/palestinian-journalist-gets-jail-term-abbas-insult-192131038.html

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Source: http://www.thehollywoodgossip.com/2013/03/sean-lowe-and-catherine-giudici-respond-to-diva-rumors-history-q/

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Turns out you can't shoot a 10-point buck in a Wal-Mart parking lot

BLAIRSVILLE, Pa. (AP) ? They say you can get almost anything at Wal-Mart. But the Pennsylvania Game Commission says one deer hunter took it too far.

Forty-year-old Arcangelo Bianco Jr. is charged with reckless endangerment and hunting law violations for allegedly shooting across a highway to kill a 10-point buck he spotted in a Wal-Mart parking lot in November.

Defense attorney Jason Huska declined comment Wednesday on the specific allegations but says his client denies wrongdoing. Bianco faces a preliminary hearing May 1 on charges reported by the Indiana Gazette (http://bit.ly/YEmOVY).

Wildlife Conservation Officer Jack Lucas says Bianco fired several shots in the parking lot then retrieved the deer from the side of the highway opposite the store, about 30 miles east of Pittsburgh.

Lucas says the buck is one of the nicest taken in the county in recent years.

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Information from: The Indiana Gazette, http://www.indianagazette.com

Source: http://news.yahoo.com/charges-pa-man-bagged-deer-wal-mart-lot-145951272.html

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'Good Morning America' anchor Robin Roberts to be honored with courage award at 2013 ESPYS

Mar 26 (Reuters) - Leading money winners on the 2013 PGATour on Monday (U.S. unless stated): 1. Tiger Woods $3,787,600 2. Brandt Snedeker $2,859,920 3. Matt Kuchar $2,154,500 4. Steve Stricker $1,820,000 5. Phil Mickelson $1,650,260 6. Hunter Mahan $1,553,965 7. John Merrick $1,343,514 8. Dustin Johnson $1,330,507 9. Russell Henley $1,313,280 10. Kevin Streelman $1,310,343 11. Keegan Bradley $1,274,593 12. Charles Howell III $1,256,373 13. Michael Thompson $1,254,669 14. Brian Gay $1,171,721 15. Justin Rose $1,155,550 16. Jason Day $1,115,565 17. Chris Kirk $1,097,053 18. ...

Source: http://news.yahoo.com/good-morning-america-anchor-robin-roberts-honored-courage-001505589.html

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Excerpts of Calif. gay marriage case at high court

Excerpts from the arguments before the Supreme Court on Tuesday about California's Proposition 8 ban on same-sex marriage, from a transcript released by the Supreme Court:

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On whether the case should be before them (Chief Justice John Roberts and Justice Anthony Kennedy):

ROBERTS: But a state can't authorize anyone to proceed in federal court, because that would leave the definition under Article III of the federal Constitution as to who can bring ? who has standing to bring claims up to each state. And I don't think we've ever allowed anything like that.

KENNEDY: The problem ? the problem with the case is that you're really asking, particularly because of the sociological evidence you cite, for us to go into uncharted waters, and you can play with that metaphor, there's a wonderful destination, it is a cliff. Whatever that was. ... But you're ? you're doing so in a ? in a case where the opinion is very narrow. Basically that once the state goes halfway, it has to go all the way or 70 percent of the way, and you're doing so in a case where there's a substantial question on ? on standing. I just wonder if ? if the case was properly granted.

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On the question of children of same-sex parents (Kennedy and Charles Cooper, the lawyer for the defenders of Proposition 8):

KENNEDY: I think there's ? there's substantial ? that there's substance to the point that sociological information is new. We have five years of information to weigh against 2,000 years of history or more. On the other hand, there is an immediate legal injury or legal ? what could be a legal injury, and that's the voice of these children. There are some 40,000 children in California, according to the red brief, that live with same-sex parents, and they want their parents to have full recognition and full status. The voice of those children is important in this case, don't you think?

COOPER (in response): I certainly would not dispute the importance of that consideration. That consideration especially in the political process, where this issue is being debated and will continue to be debated, certainly, in California. It's being debated elsewhere. But on that ? on that specific question, Your Honor, there simply is no data.

___

On the issue of same-sex marriage (Justice Samuel Alito):

ALITO: The one thing that the parties in this case seem to agree on is that marriage is very important. It's thought to be a fundamental building block of society and its preservation essential for the preservation of society. Traditional marriage has been around for thousands of years. Same-sex marriage is very new. I think it was first adopted in The Netherlands in 2000. So there isn't a lot of data about its effect. And it may turn out to be a -- a good thing; it may turn out not to be a good thing, as the supporters of Proposition 8 apparently believe.

___

On the question of redefining marriage (Justice Antonin Scalia):

SCALIA: Mr. Cooper, let me ? let me give you one ? one concrete thing. I don't know why you don't mention some concrete things. If you redefine marriage to include same-sex couples, you must ? you must permit adoption by same-sex couples, and there's ? there's considerable disagreement among -- among sociologists as to what the consequences of raising a child in a -- in a single-sex family, whether that is harmful to the child or not. Some states do not ? do not permit adoption by same-sex couples for that reason.

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On the rights of same-sex couples (Theodore Olson, the lawyer for two same-sex couples):

OLSON: This is a measure that walls off the institution of marriage, which is not society's right. It's an individual right that this Court again and again and again has said the right to get married, the right to have the relationship of marriage is a personal right. It's a part of the right of privacy, association, liberty, and the pursuit of happiness.

ROBERTS (in response): I'm not sure, counsel, that it makes -- I'm not sure that it's right to view this as excluding a particular group. When the institution of marriage developed historically, people didn't get around and say let's have this institution, but let's keep out homosexuals. The institution developed to serve purposes that, by their nature, didn't include homosexual couples. It is -- yes, you can say that it serves some of the other interests where it makes sense to include them, but not all the interests. And it seems to me, your friend argues on the other side, if you have an institution that pursues additional interests, you don't have to include everybody just because some other aspects of it can be applied to them.

___

On the Constitution and same-sex couples (Olson and Scalia):

SCALIA: The California Supreme Court decides what the law is. That's what we decide, right? We don't prescribe law for the future. We decide what the law is. I'm curious, when -- when did -- when did it become unconstitutional to exclude homosexual couples from marriage? 1791? 1868, when the Fourteenth Amendment was adopted? Sometimes -- some time after Baker, where we said it didn't even raise a substantial Federal question? When -- when -- when did the law become this?

OLSON: May I answer this in the form of a rhetorical question? When did it become unconstitutional to prohibit interracial marriages? When did it become unconstitutional to assign children to separate schools.

SCALIA: It's an easy question, I think, for that one. At -- at the time that the Equal Protection Clause was adopted. That's absolutely true. But don't give me a question to my question. (laughter) ... When do you think it became unconstitutional? Has it always been unconstitutional?

OLSON: When the California Supreme Court faced the decision, which it had never faced before, is -- does excluding gay and lesbian citizens, who are a class based upon their status as homosexuals -- is it -- is it constitutional.

___

On sexual orientation (Justice Sonia Sotomayor and Cooper):

SOTOMAYOR: Outside of the marriage context, can you think of any other rational basis, reason, for a state using sexual orientation as a factor in denying homosexuals benefits or imposing burdens on them? Is there any other rational decision-making that the government could make? Denying them a job, not granting them benefits of some sort, any other decision?

COOPER (in response): I cannot. I do not have any -- anything to offer you in that regard. ... We are saying the interest in marriage and the -- and the state's interest and society's interest in what we have framed as responsible procreation is -- is vital, but at bottom, with respect to those interests, our submission is that same-sex couples and opposite-sex couples are simply not similarly situated.

___

On procreation and age (Justice Elena Kagan and Cooper, and later Scalia):

KAGAN: If you are over the age of 55, you don't help us serve the government's interest in regulating procreation through marriage. So why is that different?

COOPER: Even with respect to couples over the age of 55, it is very rare that both couples -- both parties to the couple are infertile, and the traditional -- (laughter)

KAGAN: No, really, because if the couple -- I can just assure you, if both the woman and the man are over the age of 55, there are not a lot of children coming out of that marriage. (laughter)

COOPER: Society's interest in responsible procreation isn't just with respect to the procreative capacities of the couple itself. The marital norm, which imposes the obligations of fidelity and monogamy, Your Honor, advances the interests in responsible procreation by making it more likely that neither party, including the fertile party to that --

KAGAN: Actually, I'm not even --

SCALIA: I suppose we could have a questionnaire at the marriage desk when people come in to get the marriage -- you know, Are you fertile or are you not fertile? (laughter.) I suspect this court would hold that to be an unconstitutional invasion of privacy, don't you think?

KAGAN: Well, I just asked about age. I didn't ask about anything else. That's not -- we ask about people's age all the time.

COOPER: Your Honor, and even asking about age, you would have to ask if both parties are infertile. Again --

SCALIA: Strom Thurmond was -- was not the chairman of the Senate committee when Justice Kagan was confirmed. (laughter)

_____

Online: http://tinyurl.com/dxefy2a

Source: http://news.yahoo.com/excerpts-calif-gay-marriage-case-high-court-184341216--politics.html

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