7 hostages reported dead in 'final assault' on Algerian refinery









CAIRO — Algerian troops raided a remote natural gas refinery Saturday, killing 11 Islamic militants but not before extremists executed seven hostages who for days had been trapped in a deepening international crisis, according to media reports.


Algerian state media described the army mission as the “final assault” to end a hostage ordeal that began in the predawn Wednesday at a gas compound on the Algerian-Libyan border. It was not clear if the hostages killed were Algerians or foreigners.


"It is over now, the assault is over, and the military are inside the plant clearing it of mines," a local source familiar with the operation told Reuters.





The fate of as many as 30 foreign hostages, including an estimated seven Americans, remained unknown. Algerian forces discovered 15 burned bodies as they swept through the compound Saturday to rout heavily armed militants. The militants threatened to blow up the facility and a number of hostages were reported earlier to have been forced to wear explosive belts.  


The Algerian government had refused to negotiate with the extremists, who were linked to Al Qaeda in the Islamic Maghreb and appear to include Algerians, Libyans, Egyptians and at least one commander from Niger.


Algeria’s state-run media earlier reported that 12 refinery workers, including Algerians and foreigners, had been killed since a government operation to retake the plant began Thursday. Unconfirmed media reports suggested that as many as 35 foreign captives may have been killed, including some struck by gunfire from the Algerian military.


The militants, some dressed in fatigues, were armed with machine guns and rocket launchers. The compound is encircled by army tanks, troops and special forces. A Mauritanian news agency that has been in contact with the extremists said the captors were holding two American, three Belgians, one Japanese and one Briton.


The Algerian government on Friday said 573 Algerians and nearly 100 of an estimated 132 foreign hostages had been freed or had escaped. But the chaotic scene at the gas compound at In Amenas has frustrated international officials who complained they were not consulted about the Algerian military’s operations at the plant.   


The natural gas refinery at In Amenas is also jointly operated by BP; Statoil, a Norwegian firm; and Sonatrach, the Algerian national oil company.


ALSO:


Bolshoi artistic director attacked with acid


Pentagon planning to ferry more French troops, gear to Mali


Algeria: Accounts emerge as nearly 100 foreigners reported freed


jeffrey.fleishman@latimes.com





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Wired Science Space Photo of the Day: Sunset on Mars


On May 19th, 2005, NASA's Mars Exploration Rover Spirit captured this stunning view as the Sun sank below the rim of Gusev crater on Mars. This Panoramic Camera (Pancam) mosaic was taken around 6:07 in the evening of the rover's 489th martian day, or sol. Spirit was commanded to stay awake briefly after sending that sol's data to the Mars Odyssey orbiter just before sunset. This small panorama of the western sky was obtained using Pancam's 750-nanometer, 530-nanometer and 430-nanometer color filters. This filter combination allows false color images to be generated that are similar to what a human would see, but with the colors slightly exaggerated. In this image, the bluish glow in the sky above the Sun would be visible to us if we were there, but an artifact of the Pancam's infrared imaging capabilities is that with this filter combination the redness of the sky farther from the sunset is exaggerated compared to the daytime colors of the martian sky. Because Mars is farther from the Sun than the Earth is, the Sun appears only about two-thirds the size that it appears in a sunset seen from the Earth. The terrain in the foreground is the rock outcrop "Jibsheet", a feature that Spirit has been investigating for several weeks (rover tracks are dimly visible leading up to Jibsheet). The floor of Gusev crater is visible in the distance, and the Sun is setting behind the wall of Gusev some 80 km (50 miles) in the distance.


This mosaic is yet another example from MER of a beautiful, sublime martian scene that also captures some important scientific information. Specifically, sunset and twilight images are occasionally acquired by the science team to determine how high into the atmosphere the martian dust extends, and to look for dust or ice clouds. Other images have shown that the twilight glow remains visible, but increasingly fainter, for up to two hours before sunrise or after sunset. The long martian twilight (compared to Earth's) is caused by sunlight scattered around to the night side of the planet by abundant high altitude dust. Similar long twilights or extra-colorful sunrises and sunsets sometimes occur on Earth when tiny dust grains that are erupted from powerful volcanoes scatter light high in the atmosphere.


Image: NASA/JPL/Texas A&M/Cornell [high-resolution]


Caption: NASA/JPL/Texas A&M/Cornell

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AP Source: Lady Gaga to perform at inaugural ball






WASHINGTON (AP) — Watch out Beyonce (bee-AHN’-say) and Katy Perry. There’s another diva set to perform during the inauguration festivities — Lady Gaga.


A person familiar with the inauguration tells The Associated Press that the pop star will perform at Tuesday’s ball for White House staffers. The source spoke on condition of anonymity because that person wasn’t authorized to publicly reveal the information.






The staff ball is typically a private affair. During the last inauguration festivities, Jay-Z reportedly performed at it.


According to one attendee, Jay-Z rapped a riff on one of his hit songs, “99 Problems but George Bush Ain’t One,” to the delight of the throngs of young staffers who worked to elect Obama in 2008.


Entertainment News Headlines – Yahoo! News





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Personal Health: That Loving Feeling Takes a Lot of Work

When people fall in love and decide to marry, the expectation is nearly always that love and marriage and the happiness they bring will last; as the vows say, till death do us part. Only the most cynical among us would think, walking down the aisle, that if things don’t work out, “We can always split.”

But the divorce rate in the United States is half the marriage rate, and that does not bode well for this cherished institution.

While some divorces are clearly justified by physical or emotional abuse, intolerable infidelity, addictive behavior or irreconcilable incompatibility, experts say many severed marriages seem to have just withered and died from a lack of effort to keep the embers of love alive.


Jane Brody speaks about love and marriage.



I say “embers” because the flame of love — the feelings that prompt people to forget all their troubles and fly down the street with wings on their feet — does not last very long, and cannot if lovers are ever to get anything done. The passion ignited by a new love inevitably cools and must mature into the caring, compassion and companionship that can sustain a long-lasting relationship.

Studies by Richard E. Lucas and colleagues at Michigan State University have shown that the happiness boost that occurs with marriage lasts only about two years, after which people revert to their former levels of happiness — or unhappiness.

Infatuation and passion have even shorter life spans, and must evolve into “companionate love, composed more of deep affection, connection and liking,” according to Sonja Lyubomirsky, a professor of psychology at the University of California, Riverside.

In her new book, “The Myths of Happiness,” Dr. Lyubomirsky describes a slew of research-tested actions and words that can do wonders to keep love alive.

She points out that the natural human tendency to become “habituated” to positive circumstances — to get so used to things that make us feel good that they no longer do — can be the death knell of marital happiness. Psychologists call it “hedonic adaptation”: things that thrill us tend to be short-lived.

So Dr. Lyubomirsky’s first suggestion is to adopt measures to avert, or at least slow down, the habituation that can lead to boredom and marital dissatisfaction. While her methods may seem obvious, many married couples forget to put them into practice.

Building Companionship

Steps to slow, prevent or counteract hedonic adaptation and rescue a so-so marriage should be taken long before the union is in trouble, Dr. Lyubomirsky urges. Her recommended strategies include making time to be together and talk, truly listening to each other, and expressing admiration and affection.

Dr. Lyubomirsky emphasizes “the importance of appreciation”: count your blessings and resist taking a spouse for granted. Routinely remind yourself and your partner of what you appreciate about the person and the marriage.

Also important is variety, which is innately stimulating and rewarding and “critical if we want to stave off adaptation,” the psychologist writes. Mix things up, be spontaneous, change how you do things with your partner to keep your relationship “fresh, meaningful and positive.”

Novelty is a powerful aphrodisiac that can also enhance the pleasures of marital sex. But Dr. Lyubomirsky admits that “science has uncovered precious little about how to sustain passionate love.” She likens its decline to growing up or growing old, “simply part of being human.”

Variety goes hand in hand with another tip: surprise. With time, partners tend to get to know each other all too well, and they can fall into routines that become stultifying. Shake it up. Try new activities, new places, new friends. Learn new skills together.

Although I’ve been a “water bug” my whole life, my husband could swim only as far as he could hold his breath. We were able to enjoy the water together when we both learned to kayak.

“A pat on the back, a squeeze of the hand, a hug, an arm around the shoulder — the science of touch suggests that it can save a so-so marriage,” Dr. Lyubomirsky writes. “Introducing more (nonsexual) touching and affection on a daily basis will go a long way in rekindling the warmth and tenderness.”

She suggests “increasing the amount of physical contact in your relationship by a set amount each week” within the comfort level of the spouses’ personalities, backgrounds and openness to nonsexual touch.

Positive Energy

A long-married friend recently told me that her husband said he missed being touched and hugged. And she wondered what the two of them would talk about when they became empty-nesters. Now is the time, dear friend, to work on a more mutually rewarding relationship if you want your marriage to last.

Support your partner’s values, goals and dreams, and greet his or her good news with interest and delight. My husband’s passion lay in writing for the musical theater. When his day job moved to a different city, I suggested that rather than looking for a new one, he pursue his dream. It never became monetarily rewarding, but his vocation fulfilled him and thrilled me. He left a legacy of marvelous lyrics for more than a dozen shows.

Even a marriage that has been marred by negative, angry or hurtful remarks can often be rescued by filling the home with words and actions that elicit positive emotions, psychology research has shown.

According to studies by Barbara L. Fredrickson, a social psychologist and professor at the University of North Carolina at Chapel Hill, a flourishing relationship needs three times as many positive emotions as negative ones. In her forthcoming book, “Love 2.0,” Dr. Fredrickson says that cultivating positive energy everyday “motivates us to reach out for a hug more often or share and inspiring or silly idea or image.”

Dr. Lyubomirsky reports that happily married couples average five positive verbal and emotional expressions toward one another for every negative expression, but “very unhappy couples display ratios of less than one to one.”

To help get your relationship on a happier track, the psychologist suggests keeping a diary of positive and negative events that occur between you and your partner, and striving to increase the ratio of positive to negative.

She suggests asking yourself each morning, “What can I do for five minutes today to make my partner’s life better?” The simplest acts, like sharing an amusing event, smiling, or being playful, can enhance marital happiness.


This post has been revised to reflect the following correction:

Correction: January 18, 2013

The Personal Health column on Tuesday, about making marriages last, misspelled the given name of a professor of psychology at the University of California, Riverside, who studies happiness. She is Sonja Lyubomirsky, not Sonya.

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Corner Office: Kon Leong of ZL Technologies, on Encouraging Creativity





This interview with Kon Leong, co-founder, president and chief executive of ZL Technologies, an e-mail and file archiving company, was conducted and condensed by Adam Bryant.




Q. Tell me about some important leadership lessons you’ve learned.


A. One of my early jobs was selling computer hardware. What I learned about selling was probably more valuable than my M.B.A. I had seen selling as a process just about logic. Then I realized that has nothing to do with it.


Q. What was the insight?


A. You have to present your story in their context, not yours. They don’t really care if you’re standing on top of a robot and quoting equations. If they’re in the deep part of the forest, you’ve got to talk the language of the deep forest. Salesmanship is more like a language unto itself. There is no right or wrong. It’s what you make of it, and what’s black can be gray, and what’s gray can be white. It depends on your framework. The challenge is to share the same framework so that you’re seeing the same page in the same way.


Q. How do you hire? If you were interviewing me for a job, what would you ask me?


A. I would want to know your goals for the job. Is it money? Learning? Fulfillment? What is it? I would try to figure out if our environment suits your goals. I would not try to sell you to get you to take the job. I also will ask, “How curious are you?”


Q. I imagine that most people simply say, “Very.”


A. But then I’d ask, “Outside the headlines, what were some of the most interesting things you’ve noted in the last couple of weeks, and tell me why, and what did you do about it?” That would reflect what you think is interesting, and that tells me a fair bit. If you can cite many disparate topics, that’s a step in the right direction. The point is, we’re trying to find the right fit. In a fast-changing environment, you need to learn more and more and more. There’s so much to learn, and you can’t be taught all the permutations and combinations of the answers, so you have to learn on your own. And to learn on your own, you need curiosity.


Q. What other questions?


A. I’ll ask: How willingly do you accept stuff, and how willing are you to question things? How creative are you in finding your own answers? For example, everyone knows in school that you cannot divide by zero. Why? I try to find if they’ve actually questioned things like that at any time. The point is, we’re usually handicapped by our own borders, and we will not think beyond them. I think there’s one rule of thumb in creativity: when you’re brainstorming, you have to suspend disbelief. That’s a key ingredient. There’s time enough to challenge it and poke holes, but not at the time of generation.


I’ll also change the subject to one where they have some expertise. So I’ll ask what their passions are, and then I’ll ask questions. If it’s ornithology, I’ll start talking about the evolution of birds and ask questions like, “How do you think reptiles got feathers?”


Q. What else do you look for when hiring?


A. Brains and drive. Those are the basics. Without them, it’s probably going to be a long shot. After we work through that, then it’s curiosity and attitude.


Q. How do you get at the question of attitude?


A. Are you willing to learn from your mistakes? Do you do that automatically? Are you willing to set the bar higher? Are you able to deal with failure? Can you bounce back from it?


Q. What’s your take on the standard interview question about strengths and weaknesses?


A. I never really ask about weaknesses, because it’s meaningless. I ask more about strengths, but I ask it from a different angle. I’m more interested in the answers from a more personal perspective as opposed to a professional environment. I’ll typically ask: How would you describe yourself in three words outside the work environment? And then: What do you consider your natural strength? What do you do that comes without any effort, that your peers struggle with and can’t even match? What is natural for you? Other skills emanate from that natural core. Someone once answered that question by saying, “People tend to just come and talk to me.” That really intrigued me.


Q. What’s your natural strength?


A. I can zoom in, zoom out.


Q. What’s it like to work for you day to day?


A. Certain aspects of my management style are extremely frustrating. There are many, many questions posed to me, many decisions asked of me. I try not to make them. I respond with more questions, because I want them to find the answer. It can be very frustrating to my employees, but I’m trying to get others to scale up and learn. They understand and accept my approach, but many still feel frustrated because they just want the answer.


Q. What is your advice for students who are graduating from college?


A. I tell all of them two things, and that goes for both undergrads and M.B.A.’s. First, experiment. If you’re 22 years old as an undergrad or if you’re 27 just out of your M.B.A., in both cases you’ve got a clean slate. You can go in any direction. So experiment. That can also mean taking a lower salary in order to experiment.


This is all in hindsight, of course, because I didn’t do it. I went to Wall Street after getting my M.B.A. If you experiment in different jobs and functions in those two or three years out of school, you will have a much better shot at finding your sweet spot. And the sweet spot is the intersection between what you’re really good at and what you love to do. If you can find that intersection, you are set. A lot of people would kill for that because, at 65, they’re retiring and never found it.


So don’t put so much emphasis on initial compensation. Don’t listen to all the harping from the family. Try to find your sweet spot and, once you find it, invest in that. You don’t want to get degrees just to do work you don’t really like. If you’re miserable, even if you make a lot of money, that’s still 40 years of your life.


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House leaders offer short-term debt increase









WILLIAMSBURG, Va. – House Republicans announced Friday that they will vote next week to authorize a temporary extension of the debt limit, pushing off a politically unpalatable fight in the hopes of extracting further spending cuts from Democrats in a new budget deal.


The new offer, announced at the conclusion of a three-day retreat, represents a modification of the Republican leadership’s previous demand that any debt limit increase, temporary or otherwise, must include equivalent spending reductions. The temporary increase this time comes with the stipulation that it will “give the Senate and House time to pass a budget,” something the GOP notes that the Democratic-led Senate has failed to do so for years.


A leadership aide argued that it is consistent with the so-called “Boehner Rule,” which requires spending cuts or reforms in return for a debt-limit extension. Also, if Congress fails to pass a budget in time, the terms of the House offer would then call for lawmakers to stop receiving pay, just as the nation would then again face the threat of a default. Republicans say that the budget would only include an extended debt-ceiling increase if Democrats agree to significant spending cuts.





QUIZ: Test your knowledge about the debt limit


“The Democratic-controlled Senate has failed to pass a budget for four years.  That is a shameful run that needs to end, this year,” House Speaker John A. Boehner (R-Ohio) was to tell members of the GOP conference, according to prepared remarks. “We are going to pursue strategies that will obligate the Senate to finally join the House in confronting the government’s spending problem.  The principle is simple: no budget, no pay.”


The party leaders hinted at the strategy Thursday, borne out of the bruising fiscal cliff battle in December that divided the House majority. It would push off the most immediate of three coming fiscal battles, which also include automatic across-the-board spending cuts and the expiration of the resolution that funds the government’s operations.


President Obama has maintained that extending the nation’s debt limit was non-negotiable, warning that the failure to do so threatened the nation’s long-term credit rating. At a news conference earlier this week, Obama called it “absurd” that Republicans would refuse to “pay the bills they’ve already racked up.”


“It would be a self-inflicted wound on the economy.  It would slow down our growth, might tip us into recession, and ironically, would probably increase our deficit,” he said.


House leaders have used their time in Williamsburg, Va., to recalibrate their approach to negotiations. In a series of sessions on the grounds of a golfing resort, party leaders including Rep. Paul D. Ryan (R-Wis.), the chairman of the House Budget Committee and former vice presidential candidate, discussed the need to focus on reaching the achievable rather than the ideal when it comes to spending reduction goals, recognizing the party controls only the House, with a Democratic-led Senate and White House.


PHOTOS: Past presidential inaugurations


House Majority Leader Eric Cantor (R-Va.) said in a statement that the GOP proposal “is the first step to get on the right track, reduce our deficit and get focused on creating better living conditions for our families and children.”


“It's time to come together and get to work,” he said.


Senate Majority Leader Harry Reid (D-Nev.) welcomed the move.


"It is reassuring to see Republicans beginning to back off their threat to hold our economy hostage,” the Nevada Democrat said in a statement. “If the House can pass a clean debt ceiling increase to avoid default and allow the United States to meet its existing obligations, we will be happy to consider it.” 


The White House signaled that it was "encouraged" to hear the news from House leadership.


"We are encouraged that there are signs that Congressional Republicans may back off their insistence on holding our economy hostage to extract drastic cuts in Medicare, education and programs middle class families depend on," its statement said.


[For the Record, 11:35 a.m. PST  Jan. 18: This post has been updated to include the White House's response.]


Follow Politics Now on Twitter and Facebook


michael.memoli@latimes.com


Twitter: @mikememoli





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Premiere: Hear Twin Shadow's Synthpop Remix of 'Everything Is Embarrassing' by Sky Ferreira











In the waning days of last summer, Sky Ferreira’s “Everything Is Embarrassing” became the perfect sugary pop jam to ride out the sun-soaked final days of the season. Now, as if to get us pumped for the coming spring, synthpop artist Twin Shadow has given it a bass-bouncing remix ready for the dance floor.


For the remix Twin Shadow pulls out the track’s wry “Maybe if you let me be your lover/maybe if you tried then I would not bother” line and flips it through a series rubbery bass grooves and then layers it with synth flourishes, taking the Debbie Gibson vibe of the original and cranking up the ’80s volume to Human League levels.


It’s just the latest wave (new or otherwise) that Ferreira has ridden lately. “Everything Is Embarrassing” was named a Best New Track by Pitchfork when it dropped last August, and The New York Times, in its review of the EP Ghost, called it “one of the year’s unlikely pop gems.” New York Magazine went on to name “Embarrassing” the song of the year, an accolade that was quickly followed by its TV premiere on Late Night with Jimmy Fallon last week – backed by the Roots crew.


Check out Twin Shadow’s remix of the sleeper hit of 2012 below. Grab the Ghost EP from iTunes here.







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Bob Dylan considering Dylan Thomas centenary show in Wales






LONDON (Reuters) – American singer-songwriter Bob Dylan may play a special concert in Wales to mark the centenary of the birth of Dylan Thomas, the Welsh poet after whom he may or may not have named himself.


The member of parliament for West Swansea, Geraint Davies, said he had asked Dylan if he would perform in the city as part of a series of commemorative events next year.






“Bob Dylan named himself after Dylan Thomas. I have asked Bob Dylan whether he would be prepared to give a centenary concert in Swansea, in order that he could blend his music with Dylan Thomas’s poetry,” Davies said in the British parliament on Thursday.


“Sony Music has come back and said that Mr. Dylan is thinking very positively about the idea.”


Dylan, 71, was born Robert Allen Zimmerman and the reason he picked his adopted name while a young folk singer in Minnesota has long been debated by fans.


The most popular theory is that he did indeed name himself after the Welsh poet, though another says it was after Marshal Matt Dillon in the TV Western “Gunsmoke”.


Dylan Thomas, whose works include “Under Milk Wood” and “Do Not Go Gentle Into That Good Night”, was born in Swansea in 1914 and died in New York 1953 after a drinking binge.


Bob Dylan still tours regularly and his latest recording “Tempest”, released last September, was hailed by the critics.


(Reporting by Angus MacSwan; Editing by Paul Casciato)


Music News Headlines – Yahoo! News





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Flu Season ‘Worse Than Average,’ Officials Say





This year’s flu season is shaping up to be “worse than average and particularly bad for the elderly,” Dr. Thomas R. Frieden, the nation’s top federal disease-control official, said Friday.




But the season appears to have peaked, added Dr. Frieden, the director of the Centers for Disease Control and Prevention, with new cases declining over most of the nation except for the far West.


Spot shortages of flu vaccine and flu-fighting medicine are occurring, but that reflects uneven distribution, not a supply crisis, federal officials said. They urged people seeking flu shots to consult flu.gov and doctors to check preventinfluenza.org for suppliers.


Vaccine-makers will ultimately be able to deliver 145 million doses, 10 million more than projected earlier, the officials said. The Food and Drug Administration has allowed the maker of Tamiflu to release 2 million doses it had in storage.


The older Tamiflu is perfectly good, said Dr. Margaret A. Hamburg, the commissioner of the F.D.A., who joined Dr. Frieden on a telephone news conference. “It’s not outdated, it just has older labeling,” she said. “Repackaging it would take weeks,” she added, so her agency told the company not to bother.


Weekly recorded deaths from flu and pneumonia are still rising, and are well above the “epidemic” curve for the first time. But how severe a season ultimately proves depends on how long high weekly death rates persists. Flu deaths often aren’t recorded until March or April, well after new infections taper off.


Dr. Frieden said the season appeared to resemble the “moderately severe” season of 2003-2004, which also had an early start and was dominated by an H3N2 strain. In such seasons, 90 percent of all deaths occur among those over 65. Flu hospitalization rates are “quite high” now, Dr. Frieden said, and most of those hospitalized are elderly.


Last year’s flu season was unusually mild. At the end of the season last year, 34 children had died.


So far this year, the C.D.C.'s count of pediatric flu deaths, which includes premature infants and teenagers up to age 17 — has risen to 29, although this is acknowledged to be an undercount as it is only of lab-confirmed influenza cases reported to the agency.


Henry L. Niman, a flu-watcher who follows state death registries and news reports, counts about 40 pediatric deaths so far and predicted that the total would ultimately be close to the 153 of the 2003-04 season, but much less than in the 2009-2010 “swine flu” pandemic, when 282 children died. That flu was a strain never seen before and many more children caught it. The elderly had surprising resistance to getting it, presumably because similar flus that circulated 40 or more years ago had given them some immunity. But among those elderly who did catch it, the death rates were high.


Dr. Frieden suggested that the elderly avoid contact with sick children. “Having a grandparent baby-sit a sick child may not be a good idea,” he said.


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Your Money: Finding Investment Advice for More Modest Retirement Accounts





If you’re perfectly capable of running your own retirement savings, selecting the right mix of low-cost investments, rebalancing at the right time and not buying and selling out of fear or greed, then good for you.




But the majority of people — maybe the vast majority — are not like that. They may be smart enough to do the right thing, in theory, but they forget or slip up or are taken in by well-meaning friends bearing stock tips or annuity-peddling scoundrels who make nice to them over free steak dinners.


For people with more than $500,000 or so to invest, finding first-class help is hard but not impossible. If you have more than $1 million, you’ll have your choice of many of the best financial advisers in town. But until recently, it was tough for people with a few hundred thousand dollars or less to find reasonably priced assistance, especially if they were insistent on putting money in the kind of low-cost investments that would not pay a commission or other fee to the person helping them.


On Friday, the latest entrant in an increasingly crowded field of services trying to serve this customer is introducing its offering, which is called Rebalance IRA. As the name suggests, it exists only to help you with your Individual Retirement Account, perhaps one that you’ll fill with money that’s been sitting around in several 401(k) or similar accounts at previous employers.


Rebalance IRA representatives will talk with you about your goals, invest your money in a low-cost collection of index fundlike exchange-traded funds that don’t try to make big bets on individual stocks, and rebalance the investments when necessary. In exchange, you agree to hand over one half of 1 percent of your assets each year, with a minimum annual fee of $500.


The company’s single-minded focus on retirement savings is somewhat narrow, but it makes sense given how much money is at stake and how badly many people mess things up when they do it on their own.


There is more money in I.R.A.’s than in any other type of retirement vehicle, according to estimates from the Investment Company Institute. I.R.A. balances totaled $5.3 trillion at the end of the third quarter of 2012. That’s more than the $5 trillion in 401(k), 403(b) and other similar plans; the $4.8 trillion in government retirement plans; and the $2.6 trillion in traditional pensions.


According to the Department of Labor, the professionals who run pension plans earned an 8.3 percent annual return from 1991 to 2010. People fending for themselves in 401(k) and similar plans earned 7.2 percent. Nationwide I.R.A. performance figures are more scarce, though one 2006 study by the Center for Retirement Research put the figure for 1998 to 2003 at 3.8 percent annually, roughly 2 to 3 percentage points worse than pension fund managers and 401(k) investors did during that same period.


These numbers are a bit squishy, given that pensions often make bets in markets that 401(k) investors can’t access and the high fees that many 401(k) participants pay that pension managers don’t. Still, there are about a thousand reasons plenty of do-it-yourselfers (who, after all, did not volunteer to manage their retirement money) would be likely to get worse returns than, say, pension managers.


To start with, large numbers of people make extreme bets. At Vanguard, 10 percent of retirement plan participants invested only in stocks in 2011, while 8 percent had no stocks at all. At least this is better than 2004, when 35 percent of its customers were that far out of balance. Then, there are the emotional challenges. To stick with the mix of investments you’ve selected, you need to sell things that have done well and buy investments that have lagged recently. That’s hard to do.


Then there’s the grab bag of other feelings. The bad experience with a broker you may have had in the past. The spouse who may scold you for doing the wrong thing. The fear that may have caused you to bail out in early 2009 or the greed that has you pouring money into stocks today, now that they’re looking up again. This can be intensely hazardous to your long-term financial health.


All of this should be self-evident, but because we’re playing on the field of emotions, it isn’t. Still, it wasn’t immediately obvious to Mitch Tuchman, the man behind Rebalance IRA, who started a service for do-it-yourself index investors called MarketRiders in 2008.


A former software entrepreneur, Mr. Tuchman had a midlife conversion to passive investing and not trying to beat the market, and he wanted to help others invest in the same way. “We thought we could build such great software that we could turn everyone into a do-it-yourselfer,” he said. “And people said they didn’t have time or they didn’t care to do it themselves.”


MarketRiders charges subscribers $150 a year for instructions on how to adjust their portfolios and when, and it will continue to exist. But Mr. Tuchman, who had also started managing millions of dollars on the side for friends and family who simply could not be bothered to do it themselves, eventually realized that his sideline was where the real mass-market opportunity lay.


So why would you let this guy handle your money? It’s a perfectly reasonable question, and plenty of start-ups in the money management space don’t do a particularly good job of answering it.


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'Dear Abby' advice columnist Pauline Phillips dies at 94









Pauline Friedman Phillips, who as Abigail Van Buren -- "Dear Abby" — for more than 40 years dispensed advice to newspaper readers worldwide on everything from snoring spouses to living wills, has died. She was 94.


Phillips died Wednesday in Minneapolis after a long battle with Alzheimer's disease, according to a statement from Universal Uclick syndicate.


The youngest of four daughters of Russian immigrants, Pauline Esther Friedman and her identical twin, Esther Pauline, who became advice columnist Ann Landers, were born in Sioux City, Iowa, on July 4, 1918. Phillips once said that as children, “We thought all those firecrackers and skyrockets were just for us.”





Perhaps those pyrotechnics were a harbinger of things to come for the vivacious, popular Friedman twins — "Popo” and “Eppie” — who were destined to become two of the most famous and influential women of their generation.


For 71 years, she was married to Morton B. Phillips, scion of the National Pressure Cooker Co. (Presto). From an office in their Beverly Hills home, she continued to edit the column into her 80s, although in later years daughter Jeanne Phillips  took over much of the writing.


“I started out editing her,” Jeanne Phillips said in 1999, “and now she edits me.” She plans to “continue the good work my mother started as long as I'm able. It provides a service people absolutely need.”


The improbable saga of “Dear Abby” began in 1955 when Phillips was an affluent homemaker in Hillsborough, Calif., with time on her hands, doing volunteer work and playing mah-jongg. Her twin, who'd just been hired by the Chicago Sun-Times Syndicate to take over the Ann Landers column, began forwarding some of her letters to her for replies.


Always extremely close, the sisters were thrilled to be collaborating on an advice column.


Phillips soon started her own advice column for the San Francisco Chronicle.


Her twin sister died in 2002.


A full obituary will follow at latimes.com/obits.


-- Beverly Beyette





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Amazon MP3 Store Comes to iOS — Without the In-App Purchase Tax



In an effort to side-step Apple’s native iOS app restrictions and its 30 percent fee structure for in-app purchases, Amazon has come up with a new strategy to better sell MP3s to customers with iPhones.


The workaround is quite simple: it uses the open web.


On Thursday, Amazon announced that the Amazon MP3 Store has been optimized for Safari on the iPhone and iPod Touch. Amazon customers with these Apple mobiles can now easily browse and purchase any of the 22 million-plus songs in the company’s online web store. After purchase, the MP3s can be listened to and downloaded via the Amazon Cloud Player iOS app.


Apple still doesn’t allow third-party access to the iOS Music app, so you won’t be able to throw these songs directly into your iPhone’s main music library, but you can always sync the songs that way using iTunes on the desktop.


By using a mobile site instead of a native app for the Amazon MP3 Store, the online retailer has circumvented paying Apple a 30-percent cut of in-app music sales. It also gives Amazon complete control over updates to the Amazon MP3 Store experience on iOS. Previous to Thursday’s update, iPhone customers could browse the store and buy MP3s, but only through the full website, and the experience was clunky. Amazon’s new MP3 site is fully optimized for Apple’s smallest mobile screens.


Apple’s vice-like grip on music sales for the iPhone and iPod touch continues to loosen, as this is yet another way to experience music on iOS without going through Apple’s iTunes store — first, with on-demand streaming subscription services like Rhapsody, Spotify and Rdio, and now with Amazon selling MP3s directly to iPhone owners without Apple getting a cut of the proceeds.


According to Steve Boom, vice president of Amazon Music, customers have been keen on for this feature to arrive.


“Since the launch of the Amazon Cloud Player app for iPhone and iPod Touch, a top request from customers has been the ability to buy music from Amazon right from their devices,” Boom said in a statement about Thursday’s launch.


The Amazon’s new MP3 Store for iOS is available now.


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“Diff’rent Strokes” star Conrad Bain dies at 89






LOS ANGELES (Reuters) – Actor Conrad Bain, best known for his role on the 1970s and ’80s television comedy “Diff’rent Strokes” as a wealthy, white New Yorker who adopts two young black boys from Harlem, has died at age 89, his daughter said on Wednesday.


Bain, who starred opposite the young Gary Coleman on the NBC sitcom as his adoptive father, Philip Drummond, died of natural causes at a comfort-care facility in Livermore, California, east of San Francisco, on Monday. He was three weeks shy of his 90th birthday, according to his daughter, Jennifer.






Born in Alberta, Bain served in the Canadian Army during World War Two, became a U.S. citizen in 1946 and went on to a career as an actor on Broadway and television. He often played erudite, professional characters such as lawyers, executives, politicians or doctors.


Following a recurring role on the daytime vampire drama “Dark Shadows” as an innkeeper, Bain broke into prime-time comedy with a supporting role on Norman Lear‘s “All in the Family” spin-off “Maude,” which starred Bea Arthur in the title role.


On “Maude,” Bain played a conservative physician and next-door neighbor, Dr. Arthur Harmon, who was frequently at political odds with the outspokenly liberal Maude but was best friends with Maude’s husband, Walter.


At the end of that show’s six-year CBS run in 1978, Bain landed his own sitcom, “Diff’rent Strokes,” in which he played Drummond, a rich, widowed industrialist who takes in the two young sons of his housekeeper after she dies, creating a racially mixed family in an era when depictions of such households were rare on TV.


Joining Drummond’s 13-year-old daughter, Kimberly, and a ditzy new housekeeper, Mrs. Garrett, the two boys, precocious 8-year-old Arnold, played by Coleman, and his quieter 12-year-old brother, Willis, find themselves in the lap of luxury as they adjust to a new life on Park Avenue.


The show ran for eight seasons, 1978-1986, on NBC, and went into wide re-run syndication around the world. Coleman’s oft-repeated line to his brother, “What you talkin’ ’bout, Willis?” became a pop culture catch phrase.


Coleman, who grappled with a series of financial, legal and domestic woes later in life, died in May 2010 at age 42 after suffering a brain hemorrhage.


Bain returned periodically to the stage during the show’s network run and reprised the Philip Drummond role on a 1996 episode of “The Fresh Prince of Bel-Air,” which starred Will Smith as a young rapper from a tough Philadelphia neighborhood who ends up living with wealthy relatives in California.


Bain also briefly co-starred on prime-time TV in the 1987-88 season in the Fox network political comedy “Mr. President,” as the loyal chief of staff to the title character, played by George C. Scott.


Bain is survived by his daughter and two sons, Mark and Kent.


(Reporting by Alex Dobuzinskis; additional reporting and writing by Steve Gorman; Editing by Cynthia Johnston and Dan Grebler)


Celebrity News Headlines – Yahoo! News





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Well: Life, Interrupted: Brotherly Love

Life, Interrupted

Suleika Jaouad writes about her experiences as a young adult with cancer.

There are a lot of things about having cancer in your 20s that feel absurd. One of those instances was when I found myself calling my brother Adam on Skype while he was studying abroad in Argentina to tell him that I had just been diagnosed with leukemia and that — no pressure — he was my only hope for a cure.

Today, my brother and I share almost identical DNA, the result of a successful bone marrow transplant I had last April using his healthy stem cells. But Adam and I couldn’t be more different. Like a lot of siblings, we got along swimmingly at one moment and were in each other’s hair the next. My younger brother by two years, he said I was a bossy older sister. I, of course, thought I knew best for my little brother and wanted him to see the world how I did. My brother is quieter, more reflective. I’m a chronic social butterfly who is probably a bit too impulsive and self-serious. I dreamed of dancing in the New York City Ballet, and he imagined himself playing in the N.B.A. While the sounds of the rapper Mos Def blared from Adam’s room growing up, I practiced for concerto competitions. Friends joked that one of us had to be adopted. We even look different, some people say. But really, we’re just siblings like any other.

When I was diagnosed with cancer at age 22, I learned just how much cancer affects families when it affects individuals. My doctors informed me that I had a high-risk form of leukemia and that a bone marrow transplant was my only shot at a cure. ‘Did I have any siblings?’ the doctors asked immediately. That would be my best chance to find a bone marrow match. Suddenly, everyone in our family was leaning on the little brother. He was in his last semester of college, and while his friends were applying to jobs and partying the final weeks of the school year away, he was soon shuttling from upstate New York to New York City for appointments with the transplant doctors.

I’d heard of organ transplants before, but what was a bone marrow transplant? The extent of my knowledge about bone marrow came from French cuisine: the fancy dish occasionally served with a side of toasted baguette.

Jokes aside, I learned that cancer patients become quick studies in the human body and how cancer treatment works. The thought of going through a bone marrow transplant, which in my case called for a life-threatening dose of chemotherapy followed by a total replacement of my body’s bone marrow, was scary enough. But then I learned that finding a donor can be the scariest part of all.

It turns out that not all transplants are created equal. Without a match, the path to a cure becomes much less certain, in many cases even impossible. This is particularly true for minorities and people from mixed ethnic backgrounds, groups that are severely underrepresented in bone marrow registries. As a first generation American, the child of a Swiss mother and Tunisian father, I suddenly found myself in a scary place. My doctors worried that a global, harried search for a bone marrow match would delay critical treatment for my fast-moving leukemia.

That meant that my younger brother was my best hope — but my doctors were careful to measure hope with reality. Siblings are the best chance for a match, but a match only happens about 25 percent of the time.

To our relief, results showed that my brother was a perfect match: a 10-out-of-10 on the donor scale. It was only then that it struck me how lucky I had been. Doctors never said it this way, but without a match, my chances of living through the next year were low. I have met many people since who, after dozens of efforts to encourage potential bone marrow donors to sign up, still have not found a match. Adding your name to the bone marrow registry is quick, easy and painless — you can sign up at marrow.org — and it just takes a swab of a Q-tip to get your DNA. For cancer patients around the world, it could mean a cure.

The bone marrow transplant procedure itself can be dangerous, but it is swift, which makes it feel strangely anti-climactic. On “Day Zero,” my brother’s stem cells dripped into my veins from a hanging I.V. bag, and it was all over in minutes. Doctors tell me that the hardest part of the transplant is recovering from it. I’ve found that to be true, and I’ve also recognized that the same is true for Adam. As I slowly grow stronger, my little brother has assumed a caretaker role in my life. I carry his blood cells — the ones keeping me alive — and he is carrying the responsibility, and often fear and anxiety, of the loving onlooker. He tells me I’m still a bossy older sister. But our relationship is now changed forever. I have to look to him for support and guidance more than I ever have. He’ll always be my little brother, but he’s growing up fast.


Suleika Jaouad (pronounced su-LAKE-uh ja-WAD) is a 24-year-old writer who lives in New York City. Her column, “Life, Interrupted,” chronicling her experiences as a young adult with cancer, appears regularly on Well. Follow @suleikajaouad on Twitter.

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With Debt to Sell, Troubled Euro Nations Find Willing Buyers







MADRID — January is turning out to be a bumper month for Spain and some of the euro zone economies most in need of debt financing, with governments and companies flooding the market with bonds that have sold at significantly lower interest rates than just a few months ago.




On Thursday, the Spanish Treasury sold €4.5 billion, or $5.9 billion, of debt, including bonds with a maturity of as much as 28 years. The average interest rate paid by Madrid on two-year bonds was 2.71 percent, down from 3.36 percent in December — a level not reached since March of last year.


The interest rate on the benchmark 10-year Spanish bond stood at 5.03 percent Thursday. Last year that rate spiked above 7 percent — a level that many economists believe places an unsustainable burden on governments.


Higher interest rates make it not only more expensive but also more difficult for governments to borrow the money they need. Consistently high borrowing costs helped force Greece, Ireland and Portugal to seek international bailouts.


But the renewed sense of optimism in Spain this week led the government to suggest that the country’s economic recession would not be as deep and prolonged as had been feared. When drafting its 2012 budget, the government had expected the economy to contract 1.5 percent, but officials now expect the final figure for last year to be lower.


“The government is adopting the right measures to overcome the crisis, and these efforts are about to bear fruit,” Foreign Minister JosĂ© Manuel GarcĂ­a-Margallo said at an investment conference here Wednesday. “Foreign investors are coming back.”


But some foreign investors in Mr. GarcĂ­a-Margallo’s audience gave a much more cautious reading on the recent market rally, as well as warning that it was too early for talk about an economic turnaround.


“Optimism is the flavor of the day, but perhaps people are overoptimistic,” said Birgitte Olsen, fund manager at Bellevue Asset Management in Zurich. “We’ve now seen some car companies shift their production lines to Spain, but a lot more reforms and work need to be done to return to growth and job creation.”


Still, Ms. Olsen said, “it makes sense for any company that has the opportunity to sell bonds to do it right now.”


Indeed, last year’s trickle of Spanish corporate debt issuance has turned this month into a flow. On Wednesday, Banco Santander sold €1 billion of seven-year bonds at an interest rate of 4 percent. In the first two weeks of January, a handful of other Spanish banks, as well as TelefĂłnica and energy companies including Gas Natural and Red ElĂ©ctrica, sold bonds totaling over €7 billion, with most sales heavily oversubscribed.


“The results of some of these Spanish bond issues would have been impossible just three months ago, but it’s unclear to me whether what has now opened is really a long-term window,” said Michael Gierse, a fund manager at Union Investment in Frankfurt, which has €180 billion in assets under management.


The next litmus test for investors, Mr. Gierse said, would come at the end of the month, when the Spanish authorities are expected to lift a ban on the short-selling of all stocks trading on the country’s exchanges. The ban, intended to reduce market volatility, was to be lifted at the end of last October but was then extended by three months to help ailing companies like Banco Popular issue debt. Short-selling lets investors sell borrowed shares in the hope that their price will fall and that they could then be repurchased more cheaply, allowing the investors to pocket the difference.


“Once the short-selling ban gets lifted, we will have a much clearer idea of whether this market rally is for real,” Mr. Gierse said. For now, he added, “I don’t think that investors from outside the euro zone are already back in Spain.”


One reason for such wariness is that investors endured a roller-coaster ride last year.


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Woman held captive in Nordstrom Rack raped 'multiple times'









Prosecutors said one of the five people charged in connection with the take-over robbery at a Nordstrom Rack department store in Westchester raped one of the female hostages.


Prosecutors offered no details. But a district attorney's office spokeswoman said the victim was sexually assaulted "multiple times."


Five charged in Nordstrom Rack take-over robbery








Raymond Sherman Jr., 34, who authorities said was the most violent in the group, was charged with two counts of forcible rape, one count of oral copulation, one count of kidnapping for rape, one count of assault with a deadly weapon and 14 counts of second-degree robbery.


Troy Marsay Hammock, 29, and Everett Oneal Allen, 24, face 14 counts each of second-degree robbery and one count each of assault with a deadly weapon, identified as a knife, according to the Los Angeles County district attorney's office.


Rochelle Monique Sherman, 33; and Paula Roneshia Bradley, 29, were charged with one count each of accessory after the fact.


The complaint also alleges Sherman, who is awaiting extradition from Phoenix, where he was arrested Saturday, used a handgun in the commission of the crimes.


Police have not detailed the roles of the suspects in the robbery and hostage situation. But those in law enforcement familiar with the investigation said there is strong evidence linking the crimes to those charged, including physical evidence and security video.


The incident began about 11 p.m. Thursday at the Promenade at Howard Hughes Center, near the 405 Freeway. Sherman, Hammock and Allen allegedly confronted the employees as they were leaving the store, which had just closed.


As the incident was unfolding, one of the employees called her husband and told him to call 911. The LAPD called a tactical alert and closed off the area around the shopping center. When the police department's SWAT officers arrived, they surrounded the store.


At one point, one of the suspected burglars exited, saw the police and ran back inside. A second suspected burglar walked out with an unidentified woman, saw police and also headed back inside. The officers entered the store at 3:30 a.m. and freed the captives.


At least three of the employees were injured, including at least one woman who was sexually assaulted. Another woman was stabbed in the neck and sustained non-life-threatening injuries, and a third employee was pistol-whipped, police said. LAPD Chief Charlie Beck praised the employees for their bravery and composure.


Beck would not discuss whether the robbers hid in the store or gained entrance after it closed. Nor would he say how long they remained in the store before fleeing in a white SUV, or discuss how much cash was taken in the robbery.





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Video: Discovery of the Spider That Builds Spider Decoys











In December, we reported on a new species of spider discovered in Peru. Tiny, and likely a new member of the genus Cyclosa, the spider builds large, spider-shaped decoys — and vibrates its web, acting as a master puppeteer.


Here is a video shot at the moment the spiders were discovered.


“I don’t know of any potential species discovery that has been caught on video to the same level that this one has been,” said the videographer who goes by Destin, who was accompanying biologist Phil Torres in the Peruvian Amazon. “It’s fun to go back and watch the video because it reminds me of how confused and perplexed we were.”


Indeed, the captured moment of discovery includes the following exchange:


“It’s a tiny spider disguised as a big spider!”


“Shut up.”


Video: Destin of Smarter Every Day/YouTube






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Cotillard named Hasty Pudding Woman of the Year






CAMBRIDGE, Mass. (AP) — Academy Award-winning actress Marion Cotillard (koh-tee-YAR’) has been named the 2013 Harvard University Hasty Pudding Theatricals Woman of the Year.


The French actress, who won the 2007 best actress Oscar for her role in “La Vie En Rose,” will be honored with a parade and roast, and given her ceremonial pudding pot, at Harvard on Jan. 31.






The 37-year-old Cotillard has appeared more recently in “Inception,” ”Contagion” and “The Dark Knight Rises.”


Claire Danes was the woman of the year last year.


The man of the year will be announced at a later date and honored on Feb. 8.


Hasty Pudding Theatricals is the nation’s oldest undergraduate drama troupe. The awards are presented annually to performers who have made a lasting and impressive contribution to entertainment.


Entertainment News Headlines – Yahoo! News





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Ask Well: Help for the Deskbound

One of the problems with office work is that many of us are using chairs that don’t fit our bodies very well or give adequate support to the back, said Jack Dennerlein, a professor at Northeastern’s BouvĂ© College of Health Sciences in Boston who specializes in ergonomics and safety. If you are experiencing back pain, you may be able to adjust your chair to increase its lumbar support. A good office chair will have an adjustable seat pan that you can slide back and forth as well as adjustable back and height features. First, sit in the chair so the lumbar region of your back, your lower back, is resting on the back support. At the same time, your feet should be resting comfortably on the ground and the back of your knees should be about three-finger widths from the edge of the chair, said Dr. Dennerlein.

Some high-end chair brands have adjustable seat pans, including the Steelcase Leap chair, which retails for between $800 and $900 and offers an adjustable seat and plenty of lumbar support.

The Steelcase Criterion chair sells anywhere from $350 to $850 online, depending on the model, and boasts seven different adjustments “to offer support through the full range of dynamic seating postures.”

The HumanScale Freedom chair is the winner of several design awards and also has an adjustable seat pan as well as “weight-sensitive recline, synchronously adjustable armrests, and dynamically positioned headrest.” ($400 to $1,400)

The Herman Miller Aeron chair is also popular because it comes in small, medium and large sizes and claims a PostureFit design that “supports the way your pelvis tilts naturally forward, so that your spine stays aligned and you avoid back pain.” ($680 to $850)

If all that sounds really wonderful and really too expensive, there may be a simpler solution to ease your back pain at work. Invest $15 to $30 in a lumbar chair pillow to make sure your back is getting the support it needs even when you are not sitting in a $900 chair.

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DealBook: Goldman Sachs Earnings Soar

9:46 a.m. | Updated

Goldman Sachs on Wednesday reported a fourth-quarter profit of $2.89 billion, or $5.60 a share, a significant jump from the period a year earlier.

The per-share figure is after the company paid preferred dividends, and comes in well ahead of analysts’ expectations of $3.78 a share, according to Thomson Reuters.

Analysts had been anticipating a fairly decent quarter for Goldman, and its results were buoyed by strong trading and investment banking results and lower compensation costs. In the fourth quarter of 2011, the bank earned $1.01 billion, or $1.84 a share.

The bank’s most recent results reflect a continued focus on cutting expenses as well as a number of investing gains, including $485 million from debt and security loans, the company said.

“While economic conditions remained challenging for much of last year, the strengths of our business model and client franchise, coupled with our focus on disciplined management, delivered solid performance for our shareholders,” Goldman’s chairman and chief executive, Lloyd C. Blankfein, said in a news release.

The results had an immediate effect on the firm’s stock, sending it up 2.7 percent in early morning trading.

Over all, the firm produced $9.24 billion in revenue in the quarter ended Dec. 31, up 53 percent from the same quarter in 2011. That also beat analysts’ estimates of quarterly revenue of $7.91 billion.

Goldman also revealed how much it had set aside for compensation, paying out $12.9 billion in 2012, an average of $399,506 to each of its 32,400 employees. This represented 37.9 percent of Goldman’s revenue for the year.

Over the last year, Goldman has reduced its payroll by 900 people. In 2011, the bank set aside $12.22 billion, or 42.4 percent, of its 2011 net revenue to pay compensation and benefits for its employees.

Goldman partners, a small group of top managers at the firm, will learn their 2012 compensation packages on Wednesday. The vast majority of employees, however, will be told what their bonuses will be on Thursday in what is known at Goldman as compensation communication day. These bonuses are on top of annual salaries, which can range from roughly $100,000 to $2 million for executives like Mr. Blankfein.

Bonuses on Wall Street — both the size of them and how they are paid — always draw scrutiny. Goldman Sachs decided this week not to delay the payment of bonuses to its staff members in Britain, a move that would have helped investment bankers and other highly paid employees benefit from a lower income tax rate.

Goldman Sachs was already drawing attention in the United States after it distributed $65 million in stock to 10 senior executives in December instead of January, when the firm typically makes such awards. That move helped the executives avoid the higher tax rates that will now be imposed on income of $450,000 or more.

The firm’s annual return on equity was 10.7 percent, up from 2011, when it was 5.8 percent. While this is far below its performance in boom years like 2006, when its return on equity was 41.5 percent, it is an achievement that it has broken above 10 percent.

Banks continue to fight difficult economic conditions at home and abroad, and Goldman’s results are still well below what it was producing before the financial crisis. Those outsize profits, however, were fueled by borrowing on credit and selling mortgage-linked products, and they have dwindled. New regulations aimed at reining in risk-taking have also reduced the profitability of certain businesses.

Revenue from investment banking came in at $1.41 billion, up 64 percent from the year-ago period.

Net revenue in Goldman’s powerful division that trades bonds, currencies and commodities was $2.04 billion, up 50 percent from levels in the quarter a year earlier. The firm said those results reflected an increase in mortgage revenues, which were “significantly higher” when compared with 2011.

The firm’s investing and lending division also had a stronger-than-expected quarter, posting revenue of $1.97 billion, up 126 percent from year-ago levels. The firm said this unit benefited from an increase in equity prices in Asia and Europe and a number of one-time gains. For instance, it logged a gain of $334 million from its investment in the Industrial and Commercial Bank of China, a strategic investment the firm made in 2006. It also had gains from the debt securities and loans it holds.

Goldman is one of a number of banks releasing earnings this week. JPMorgan Chase also Wednesday weighed in with its results, reporting a strong profit of $5.7 billion for the fourth quarter, up 53 percent from the previous year.

These positive results put pressure on Morgan Stanley to post good results when it releases its fourth quarter numbers on Friday. Analysts polled by Thomson Reuters are expecting Morgan Stanley to report earnings of 27 cents a share, up from a loss of 14 cents in the year-ago period.

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L.A. City Council drops $3-billion bond measure for this year









The Los Angeles City Council scrapped plans Tuesday for placing a $3-billion bond measure on the May 21 ballot, opting instead to consider it in a future election year.


Councilmen Mitchell Englander and Joe Buscaino, who had proposed the bond, said they would spend more time communicating with the public about the proposal before trying to send it to voters. "We're going to continue working on this, obviously," said Buscaino, whose district stretches from San Pedro to Watts.


The proposal, which would have increased property taxes for 20 years, had signatures from seven of the council's 15 members only two weeks ago. But in recent days, some on the council complained there hadn’t been enough outreach to the public.








Some neighborhood activists had warned that a protracted debate over the bond measure would doom passage of a proposed half-cent sales tax hike, which is on the March 5 ballot and being promoted as a way to eliminate potholes. The sales tax, known as Proposition A, is seen as a way of erasing a $220-million budget shortfall.


The search for street repair money is being driven, in part, by a fear that major sources of funding for road work are disappearing. Money from Proposition 1B, a state measure that provided $87 million for streets over a three-year period, runs out in June. Funding from President Obama’s stimulus package was depleted in summer.

A 2011 survey found that nearly one-third of the city’s streets are in D or F condition, the worst rating possible. With the current funding available, repairing those streets will take 60 years, city officials said.


The general fund, which pays for basic services, provides less than 1% of the money allocated by the city for street maintenance and repairs. Nevertheless, city officials have managed to increase the amount it spends on road work anyway, by tapping state and federal funding and special transportation taxes.





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Disney's Biggest Stars Join Forces for <cite>Skylanders</cite>-Style Gaming Mash-Up



If you’re at all familiar with the success of Skylanders, the colossally successful mash-up of videogames and collectible toys, you won’t be too surprised by Disney’s latest gaming initiative.


On Tuesday, the company announced Disney Infinity, a multi-platform game coming this June that does something Disney is typically reluctant to do: combine potentially every Disney property and franchise, from Cars to Dumbo to Phineas and Ferb. Slated for June, Infinity is half straight-up action game and half Minecraft-style sandbox. And it won’t work without a special set of character figurines that interface with your game console. A few of the 17 initial characters will come packaged with the game, and the rest you’ll have to buy at $13 a pop.


“This is one of the most creative things in the interactive world that I have ever seen,” Disney chief creative officer John Lasseter said of Infinity at an event in Hollywood on Tuesday. “It’s a tool chest for creativity.”


Infinity will launch with characters from three popular films: The Incredibles, Pirates of the Caribbean and Monsters University, the upcoming prequel to Pixar’s Monsters, Inc. that will hit theaters on June 21. Out of the box, the $75 “starter pack” for Infinity will feature three “playsets,” or traditional action games, based on each of those franchises. Throughout the course of the year, Disney will roll out more characters and playsets based on its other popular cartoon and live-action series.


You’ll only be able to play characters within the levels based on their franchise – Captain Jack Sparrow can only swashbuckle on the Pirates-themed level, for example, but can’t matriculate at Monsters U — and buying add-on collectible toys will not only add more playable characters within levels, but unlock entirely new levels to the game.


But while this careful separation of franchises may keep things canonical within the game proper, all bets are off in the Toy Box mode, where players can build their own levels by mixing and matching Disney characters and worlds. Want to slap laser guns onto Cinderella’s carriage? Be our guest — just as long as you’ve purchased the proper toys to make that happen.


“We are going to allow this place that’s kind of like your living room floor,” John Blackburn, Disney VP and general manager of Infinity developer Avalanche Studios, told Wired in advance of Tuesday’s announcement. “We’re not going to go into [your living room] and tell you how to play with your toys, and that’s the same thing here. We give you a bunch of toys and say, here, go play.”


If this all sounds like a colossal undertaking, Disney can at least be assured that the formula has worked before. Rival gamemaker Activision Blizzard has had stunning success with Skylanders, which pioneered the formula. Last week, Activision said that sales of all Skylanders figures and games had passed $500 million in the U.S. alone since its 2011 launch. Moreover, Skylanders toys outsold all other action figure lines last year, topping even Star Wars.


While the basic formula is the same, Infinity adds a few new ingredients. Besides the figurines that unlock new characters and playsets, Disney will sell “power discs” — RFID chips set in a small piece of plastic. When a player stacks these up on the interface device, they might add specific new items into the Toy Box mode, like the aforementioned Cinderella carriage. Other discs will augment the game characters when you place them between the figure and the interface. A disc with Wreck-It Ralph’s face on it will give that character more physical strength, and like baseball cards (or the collectible figures that the company sells in its Disney Stores and theme parks), the power discs will be sold in blind packages: $5 gets you two random discs.







Infinite Toy Stories


The seeds of Infinity were planted with the Toy Story 3 videogame developed by Avalanche for the Pixar film in 2010. Besides straightforward platform-action levels that were themed around the movie, the game featured a Toy Box mode that let kids play creatively, building and rearranging a town while pursuing many open-ended goals.


“We weren’t able to push it as far as we wanted to in that particular game,” Blackburn said. “There were a lot of things in Toy Story that [Pixar] wouldn’t allow us to do.” Avalanche wanted to allow players to customize and tweak the characters, but Pixar didn’t like the idea of making changes to Buzz Lightyear’s look. But when the animators took the game home, they found that the features their kids wanted were all the things that they’d stopped Avalanche from including. After that, Blackburn said, Disney trusted the developer more to tweak the properties while respecting the brand.


Still, convincing Disney’s chief creative officer to put every property into a single videogame was not an easy sell. Blackburn’s first pitch to John Lasseter involved “all different kinds of toys … childish versions that didn’t articulate, full action figure versions, plushies and stuffed animals,” he said. “When you put them all together, it looked really weird.” Lasseter didn’t like it, but he told Blackburn that if he could create one single toy line where Jack Sparrow and Sully the monster could stand next to each other and look like they were meant to be together, he could get behind the idea.


“He said he didn’t like it, but then he solved the problem for us,” Blackburn said. The final Infinity toys are cartoonish, but more realistically proportioned and aged up a little, something more oriented toward tweens than toddlers.


Players could approach the open-ended Toy Box mode from a variety of different angles. Two players could just jump into the game (whether online or on the couch) and start messing around with everything. Playing through the various “playset” levels will let you unlock hundreds of new toys and parts to play with in Toy Box. More goal-oriented players might use it like Minecraft, building their own creations and inviting other players in to see them. Blackburn showed me a Disney employee’s in-game model of the Starship Enterprise, with Sully standing on the bridge.


And players who really want to make something big can actually create a videogame. Toy Box includes parts and features that let players build obstacles, spawn enemies and even reposition the game’s camera. Lap counters and start lines let a player easily make a racing game. To illustrate the breadth of the engine, Blackburn showed me Toy Box recreations of games like Donkey Kong and Super Off-Road.


What you can’t do with Infinity is self-publish your creation. You can invite a friend to join you online and test your game in real time. But before other players can save your level to their hard drives, it’s got to go through Disney. Blackburn says Disney will solicit content and publish the best of the best. The lockdown is just about keeping the game sanitary for kids, Blackburn says: “What we didn’t want was, you’re a 12-year-old, you go create something vulgar, send it to an 8-year-old, and then their parents see that and say, where did this come from?”


Infinity, And Beyond


“We’re kind of launching a five-year plan,” Blackburn says. Disney sees Infinity not as the launch of a single game but as a platform that it will grow and improve upon indefinitely. “We’ve got a lot of our best properties from Disney that you’re going to see over the course of a year,” he says. All of the new characters and playsets will be included on the disc that players buy, Blackburn said, but they won’t be playable until the toys are released later in the year.


Infinity will ship at first on Xbox 360, PlayStation 3, Nintendo 3DS, Wii U, Wii and PC. An iOS “companion” app will also be released in June. This will not be a full-fledged action game, but it will allow players to keep raising their figures’ experience level and earning in-game rewards that will transfer back to the console versions. (As in Skylanders, the electronics in the toys themselves keep track of that character’s experience points.) Each figure will come with a unique “web code” that will unlock that character in the PC and iOS versions of the game.


With its integrated touch screen, the Wii U version of the game would seem to have the most potential for an easy-to-use building interface. “Touch sensitivity, drag-and-drop, point-and-click is really powerful for the building modes,” Blackburn said, also noting that the team would like to add two-player split-screen play, with one player using the GamePad while another plays on the TV. But, he said, Avalanche is “still trying to put these features in right now.” Because the Wii U just came out, he said, Avalanche only just finished its engine, and is putting in all the features it can, but only has about a month of development time left to do it.


Blackburn says that plans are in the works for Infinity 2, but notes that Disney is really out to build a “platform.” As the company, which now encompasses LucasArts and Marvel Comics, continues to release more films and cartoons, it can release Infinity levels and characters to promote them without necessarily having to create entirely new videogames for each of those properties.


“I’m so excited about this because…. I know the amazing new stories and new characters that we’re creating, and this is now something to look forward to, bringing the future to the Infinity game set,” Lasseter said at the Tuesday event.


“Man, Disney has a lot of really cool properties,” Blackburn says. “I want to do it all.”


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Netflix to carry more Time Warner shows






(Reuters) – Netflix Inc will carry more shows from Time Warner Inc, intensifying efforts by the video streaming company to attract more subscribers and beat back competition.


Netflix signed licensing deals with Warner Bros Television (WBTVG) and Turner Broadcasting System Inc for previous seasons of shows from Cartoon Network, Warner Bros Animation and Adult Swim for U.S. subscribers.






Shows such as Cartoon Network’s “Adventure Time”, “Ben 10″ and “Johnny Bravo”, and WBTVG’s “Childrens Hospital” will be available from March 30.


Adult Swim shows “Robot Chicken”, “Aqua Teen Hunger Force”, and Sony Pictures Television‘s “The Boondocks” will also be available on Netflix.


The first two seasons of Warner Horizon Television-produced TNT series “Dallas” will be exclusively available on Netflix in January 2014.


Netflix said last week that it would carry previous seasons of popular shows such as “Revolution” and “Political Animals” produced by Warner Bros Television.


It also won a deal in December to stream movies from Walt Disney Co’s live action and animation studios, including those from Pixar, Marvel, and the recently acquired Lucasfilms.


Netflix shares were trading up 3 percent at $ 103.92 on Monday afternoon on the Nasdaq.


(Reporting by Sruthi Ramakrishnan in Bangalore; Editing by Roshni Menon)


TV News Headlines – Yahoo! News





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Vital Signs: Nutrition: Vitamin D Doesn’t Reduce Knee Pain

About 27 million people in the United States have osteoarthritis, an incurable condition with few effective treatments beyond pain control. Some observational evidence suggests that vitamin D supplements might slow progression of the disease.

But a two-year randomized placebo-controlled study found that vitamin D did not reduce knee pain or restore cartilage.

In an article published in The Journal of the American Medical Association last week, researchers described a study of 146 men and women with painful knee arthritis who were randomly assigned to take vitamin D supplements or placebos. Vitamin D was given in quantities sufficient to raise blood levels to 36 nanograms per milliliter, a level considered sufficient for good health.

Knee pain decreased slightly in both groups, but there were no differences in the amount of cartilage lost, bone mineral density or joint deterioration as measured by X-rays and M.R.I. scans.

The lead author, Dr. Timothy McAlindon, chief of the division of rheumatology at Tufts Medical Center, said taking vitamin D in higher doses or for longer periods might make a difference, but he’s not hopeful.

“Although there were lots of promising observational data, we find no efficacy of vitamin D for knee osteoarthritis,” he said. “There may be reasons to take vitamin D supplements, but knee osteoarthritis is not one of them.”

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Bits Blog: Facebook Unveils a New Search Tool

3:22 p.m. | Updated

Facebook on Tuesday took a stab at cracking a big, elusive problem of its own making: How to help its one billion users find what they’re looking for in the jumble of posts, pictures and blue thumbs-up “likes” they share every day.

At an event at company headquarters in Menlo Park, Calif., Mark Zuckerberg, Facebook’s co-founder and chief executive, announced a tool the company had spent over a year honing. He called it “graph search,” and said it would be available to a limited number of Facebook users on Tuesday — in the “thousands”— and gradually rolled out to the rest. It would enable Facebook users to search their social network for people, places, photos and things that interest them.

That might include, Mr. Zuckerberg offered, Mexican restaurants in Palo Alto that his friends have “liked” on Facebook or checked into — though not status updates as yet. The tool might be used to find a date, or a job, Facebook executives said. “Graph search is a completely new way to get information on Facebook,” Mr. Zuckerberg said.

What he didn’t say, but which was clear, was how it would try to elbow out other companies that allow you to search for other things – LinkedIn for jobs, Yelp for restaurants, Amazon for gifts to buy for a friend and, of course, Facebook’s biggest rival on the Web, Google, which dominates Web search.  Facebook is staking its bet on the sheer volume of data that it has access to; it is hoping that its users will find what they’re looking for on Facebook itself, without having to go to the rest of the Web.

And that is how Mr. Zuckerberg distinguished Facebook search from Google search, which sends you to other sites. The Facebook search tool is meant to keep you inside Facebook itself. “Web search is designed to take any open-ended query,” Mr. Zuckerberg said. “Graph search is designed to take a precise query and return to you the answer, not links to other places where you get the answer.”

Mr. Zuckerberg sought to reassure Facebook users that their posts and pictures would be found only if they want them to be found. Before the new search tool rolls out, users will get a nudge: “Please take some time to review who can see your stuff,” it will read. Facebook tweaked its privacy controls last December.

Mr. Zuckerberg said Tuesday that initially, photos posted on Instagram, which Facebook owns, would not be part of the database of photos that can be searched. He did not specify how soon graph search would be available to those who log in on cellphones.

The search tool is plainly designed with an eye to producing profits. If done right, said Brian Blau, an analyst with Gartner, the Facebook search tool could offer marketers a more precise signal of a Web user’s interests than a keyword on Google. “It’s going to lend itself to advertising or other revenue-generating products that better matches what people are looking for,” he said. “Advertisers are going to be able to better target what you’re interested in. It’s a much more meaningful search than keyword search.”

Search earns the lion’s share of advertising revenues on the Web, which is why Google makes nearly 10 times more money than Facebook on a yearly basis.

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An Anaheim woman demands respect for her neighborhood









Yesenia Rojas, vibrant in her purple shawl, sang with a voice so powerful it rose above the rest of the procession as they shuffled down the damp Anaheim sidewalk.


"Era mexicana. Era mexicana," they sang with a statue of Our Lady of Guadalupe hoisted high, candlelight and street lamps illuminating their way. "Madrecita de los mexicanos."


The singsong serenade lauds the patroness, the mother of all Mexicans.








On this drizzly evening, Rojas led the group down Anna Drive, where she and her family have made their home.


In a city often defined by Disneyland and elegant sports venues, this street of working-class Latino immigrants has become an avatar of a lesser-known, voiceless Anaheim, one riddled with poverty and gangs.


When police shot and killed a 25-year-old alleged gang member who lived on Anna Drive, it stoked what had been a growing fire in the city. It was the latest in a spate of police shootings last year, which inflamed anger with law enforcement into a larger sense of resentment over ethnic and class fissures that divide Orange County's largest city.


Unrest — amplified by Occupy-connected protesters from outside the city — gripped Anaheim for days after the July shooting, followed by weeks of heated City Council meetings.


The wave of protesters demanding change has washed away, but Rojas has emerged in its wake. The 35-year-old mother of six, with short, wavy dark hair and a small frame that belies her force of will, has taken it upon herself to become the voice of Anna Drive.


Her family lives in a one-bedroom apartment just yards from where Manuel Diaz was shot that summer day. Rojas' 14-year-old daughter saw Diaz's body and has been traumatized since. Her mother can't let that go.


"I thought about leaving, and so did my husband, because of the children," she said. "But I said no. Because, first of all, we don't need to fear anyone, not even the police. The biggest thing right now is to stay on our feet and make things happen as a community. If we all leave, things won't change. They'll keep trampling us and humiliating us."


Rojas has a vision for her community that would seem bold if her wishes weren't so simple: She imagines playgrounds and community centers and political representation. But most of all, she sees respect for Anna Drive.


She balances two jobs, but she makes time for her community. She bends the ears of politicians. She organizes rallies encouraging her neighbors to register to vote and head to the polls. She plans events that she hopes will draw together a community that has grown accustomed to seeing itself as the backdrop of news cameras trying to highlight the city's ills.


And on this night, dozens gathered to pray a rosario in the tight courtyard outside her apartment, where the statue of the Virgin rested on an altar of roses and carnations.


As sirens echoed in the distance, the crowd stayed late into the night. They sang, they danced, they sipped cinnamon-spiced coffee.


And they prayed, petitioning the Virgin Mother for peace and for guidance.


"This is the community," Rojas said. "These are the people of Anna Drive."


::


Anna Drive, a collection of squat, modest apartment buildings, horseshoes off of a busy thoroughfare. On any given day, it pulses with life: children whipping down the sidewalk on scooters and skateboards, older boys tussling with one another and nanas and tatas watching it all unfold from chairs in their frontyards.


The street is clogged with cars and the vending truck that always seems to be parked along the same slice of curb, hawking snacks, produce and spices to the families who live on this stretch of tidy apartments and small, fenced-in lawns.


Rojas came to Anna Drive about a year ago, moving her family into the tight but comfortable apartment, its walls lined with family photographs. She was born in the Mexican state of Guanajuato, but she has lived much of her life in the flatlands of Anaheim. Her mother has lived in the same apartment, just a few blocks away, for decades.





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