Sunday, March 24, 2013

Stocks rise on Wall Street aided by earnings

Strong company earnings boosted stocks on Wall Street Friday. Investors also saw a chance to add to their holdings after declines earlier in the week.

Nike reported a surge in profit, sending its stock price to a record. Tiffany topped earnings predictions, boosted by demand from customers in Asia.

A strong run-up in stocks this year is encouraging investors to buy whenever the market dips, says Ron Florance, managing director of investment strategy at Wells Fargo Private Bank.

"We still have an astonishing amount of money sitting on the sidelines," says Florance.

The Dow Jones industrial average rose 90.54 points, or 0.6 percent, to 14,512.03 Friday. The Standard & Poor's 500 index rose 11.09 points, or 0.7 percent, to 1,556.89. The Nasdaq composite gained 22.40 points, or 0.7 percent, to 3,245.

Nike's stock hit an all-time high, rising 11 percent to $59.53 after the company reported a spike in quarterly profit. Tiffany's stock rose nearly 2 percent to $69.23 after it reported strong earnings.

Despite Friday's gains, the S&P 500 was down for the week, falling seven points, or 0.3 percent. The index was weighed down by another debt crisis in Europe and disappointing corporate news.

The Dow had its worst week in more than a month, shedding a fraction of a percentage point.

The markets got hit on several fronts.

The Mediterranean island nation of Cyprus, a banking haven, struggled to devise a plan to avoid financial collapse.

Oracle reported weak sales. FedEx, a bellwether for the economy, posted a drop in quarterly profit and cut its annual earnings forecast.

As a result, the S&P 500 logged only its second weekly decline of the year. The first came the week of Feb. 22, when investors were spooked by the minutes from a Federal Reserve policy meeting. The minutes revealed disagreement over how long to keep buying bonds in an effort to boost the economy.

A pause in the stock market run-up is due, says Terry Sandven, chief equity strategist at U.S. Bank Wealth Management. Gains this year overstate the improvement in the economy, he says.

The biggest risk to the market run-up will come when the Fed faces increasing pressure to end its stimulus program. That could happened if the economy continues to improve and stock markets rise, says Sandven.

The yield on the 10-year Treasury note rose to 1.93 percent from 1.92 percent.

Among other stocks making big moves Friday;

? Micron Technology rose 97 cents, or 10.7 percent, to $10.05 despite reporting a loss in its fiscal second-quarter later Thursday. The chipmaker said that revenue grew 3 percent, to $2.08 billion, better than analysts had expected.

? Anacor Pharmaceuticals Inc. climbed $1.24, or 25.6 percent, to $6.08 Friday, after the drug developer reported strong data from a mid-stage study of a potential chronic rash treatment.

? Marin Software, a marketing software company, rose $2.26, or 16.1 percent, to $16.26 on its market debut. The San Francisco-based company raised $105 million in its initial public offering.

? AK Steel Holding fell 16 cents, or 4.6 percent, to $3.31, after projecting a larger-than-expected first-quarter loss because a previously expected seasonal increase in demand for steel hasn't materialized.

Source: http://news.yahoo.com/stocks-rise-wall-street-aided-earnings-140542959--finance.html

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Saturday, March 23, 2013

Georgia police hunt for young killers of baby in stroller

Georgia police are going door-to-door in search of two young suspects who are accused of shooting and killing a 1-year-old boy as his mother pushed him in a stroller.

Sherry West, the mother of the child, told police she was walking her 13-month-old son, Antonio, in a stroller Thursday morning through their Brunswick, Ga., neighborhood when two African-American boys approached her and demanded money. When she told them she didn't have any money, West said one of the boys pulled out a handgun.

"He said, 'I'm going to kill you if you don't give me money,' and I said, 'I swear I don't have any,"' West told WAWS-TV in Jacksonville, Fla.

West said she tried to shield her child with her arms, but the gunman shoved her and shot the baby in the head. West was shot in the leg.

Police in the coastal city located about 80 miles from Jacksonville, today said that no suspect had been named and no weapon had been found.

Going on West's description, police said they were looking for two African-American boys between the ages of 10 and 15 years old. They did not yet have facial descriptions or names of the suspects.

Brunswick Police Department spokesman Todd Rhodes said the boy suspected of shooting the baby is believed to be the older of the two: a black male between the ages of 13 and 15, about 5 feet 7 inches to 5 feet 9 inches tall, with curly hair, who was last seen wearing a red shirt. The second suspect, who is believed to be between the ages of 10 and 12 and not as tall as the other boy, was last seen wearing a black shirt.

"We are investigating every possible angle and every possible probability that would cause something like this to happen," Rhodes told ABCNews.com.

When asked if police were investigating whether the mother could be making up the story, Rhodes said, "There is nothing out of the question. We are not overlooking anything."

Rhodes confirmed that the weapon used was a handgun but declined to describe it further.

Rhodes said multiple agencies and municipalities, and a SWAT team, from the coastal city of about 15,500 people were assisting in the search throughout the Glynn County area. The Georgia Department of Natural Resources, which has a station in Brunswick, provided a helicopter to help in the search.

Police said the Glynn County School Board Campus Police were assisting law enforcement in combing school attendance records for leads.

Since the shooting, police said 30 different leads had been called into the Brunswick Police Department and the Glynn County Police Department, or submitted through email.

The Brunswick Police Department is offering a $10,000 reward for any information that would lead to an arrest or conviction. Anyone with any information about the shooting is asked to call the Brunswick Police Department at 912-267-5516.

Also Read

Source: http://news.yahoo.com/georgia-police-hunt-killers-baby-184607088.html

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Obama offers additional $200 million to aid Jordan

(AP) ? President Barack Obama says his administration is working with Congress to provide Jordan with an additional $200 million in aid this year.

Jordan's economic troubles have been made worse by the influx of more than 450,000 refugees fleeing the civil war across the border in neighboring Syria. The Syrians are crowding refugee camps in Jordan and overwhelming aid agencies run by the important U.S. ally in the Middle East.

The United States already is the largest single donor of humanitarian aid for the Syrian people.

Obama said Friday that the extra money, if approved by Congress, will help provide more humanitarian assistance and basic services.

He made the announcement during a news conference in Amman, Jordan, with King Abdullah II.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/cae69a7523db45408eeb2b3a98c0c9c5/Article_2013-03-22-Obama-Jordan/id-bad84080e0d74ce3999e600523cc078e

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Iraq to revive cultural life to heal war wounds

In this Tuesday, March 12, 2013 photo, dancers practice at the state-run Iraq Fashion House for an operetta that will display Iraq?s art, culture and history in Baghdad, Iraq. Ten years after the bombs began falling on Iraq, the capital Baghdad is gearing up to host a yearlong cultural extravaganza that organizers hope will quicken the pulse of the city?s ailing cultural life. The city?s designation as this year?s Arab Capital of Culture is also seen as an opportunity to paint a picture of a city of history and hope, and rub out images of death and hatred. (AP Photo/Hadi Mizban)

In this Tuesday, March 12, 2013 photo, dancers practice at the state-run Iraq Fashion House for an operetta that will display Iraq?s art, culture and history in Baghdad, Iraq. Ten years after the bombs began falling on Iraq, the capital Baghdad is gearing up to host a yearlong cultural extravaganza that organizers hope will quicken the pulse of the city?s ailing cultural life. The city?s designation as this year?s Arab Capital of Culture is also seen as an opportunity to paint a picture of a city of history and hope, and rub out images of death and hatred. (AP Photo/Hadi Mizban)

In this Monday, March 18, 2013 photo, a worker looks through paintings at the Hewar Gallery in Baghdad, Iraq. Ten years after the bombs began falling on Iraq, the capital Baghdad is gearing up to host a yearlong cultural extravaganza that organizers hope will quicken the pulse of the city?s ailing cultural life. The city?s designation as this year?s Arab Capital of Culture is also seen as an opportunity to paint a picture of a city of history and hope, and rub out images of death and hatred. (AP Photo/Hadi Mizban)

In this Tuesday, March 12, 2013 photo, a group of youths practices at the state-run Iraq Fashion House for an operetta that will display Iraq?s art, culture and history in Baghdad, Iraq. Ten years after the bombs began falling on Iraq, the capital Baghdad is gearing up to host a yearlong cultural extravaganza that organizers hope will quicken the pulse of the city?s ailing cultural life. The city?s designation as this year?s Arab Capital of Culture is also seen as an opportunity to paint a picture of a city of history and hope, and rub out images of death and hatred. (AP Photo/Hadi Mizban)

In this Tuesday, March 12, 2013 photo, embroiderers and tailors sew costumes for an operetta about Iraq's culture and history, at the state-run Iraq Fashion House in Baghdad. Ten years after the bombs began falling on Iraq, the capital Baghdad is gearing up to host a yearlong cultural extravaganza that organizers hope will quicken the pulse of the city?s ailing cultural life. The city?s designation as this year?s Arab Capital of Culture is also seen as an opportunity to paint a picture of a city of history and hope, and rub out images of death and hatred. (AP Photo/Hadi Mizban)

In this Monday, March 18, 2013 photo, a worker dusts paintings in a classroom at the Hewar Gallery in Baghdad, Iraq. Ten years after the bombs began falling on Iraq, the capital Baghdad is gearing up to host a yearlong cultural extravaganza that organizers hope will quicken the pulse of the city?s ailing cultural life. The city?s designation as this year?s Arab Capital of Culture is also seen as an opportunity to paint a picture of a city of history and hope, and rub out images of death and hatred. (AP Photo/Hadi Mizban)

(AP) ? Sewing machines buzz inside the Iraq Fashion House as dressmakers work late into the night behind concrete blast walls readying intricately embroidered costumes. Models rehearse for an upcoming show upstairs.

The energetic atmosphere is in stark contrast to the nearby Iraqi National Museum, which remains closed to the public a decade after it was looted along with other government buildings following the U.S.-led invasion.

On Saturday, the Iraqi capital becomes this year's Arab Capital of Culture, and organizers are hoping to use the title to quicken the pulse of Baghdad's ailing cultural life. Manama, Bahrain, was the last capital to hold the honor bestowed by the Arab League under a program set up in 1995 with the help of the U.N. Education, Science and Culture Organization program.

But there are signs the battle-scarred city is not yet ready to reclaim its place among the Arab world's cultural jewels.

Despite a staggering $500 million budget for the yearlong initiative, security remains a worry and authorities have failed to renovate several cultural buildings that were damaged or neglected following the March 2003 U.S.-led invasion that toppled Saddam Hussein.

In the coming months, organizers are planning literary and art exhibitions, round tables on heritage and archaeology, poetry and literature symposiums, fashion shows, concerts, films and theater performances.

"This festival will be a clear message to the world that the situation in Baghdad has changed," Culture Ministry spokesman Abdul-Qadir al-Jumaili said. "Baghdad is a city rich in history and culture and is no longer a city of bombings, death and conflict."

Baghdad was once an active cultural hub in the Arab world, but this nearly 1,250-year-old city has faded remarkably since 2003. Deteriorating security, political tension and a more religiously conservative push on both sides of Iraq's sectarian divide have all taken their toll.

The Department of Cinema and Theater building in central Baghdad has not been repaired since it was looted and burned in the chaotic aftermath of the invasion. Baghdad now has only four theaters and three cinemas available for the event, down from 82 before the war. The number of art galleries has dropped from 20 to four.

The National Museum was also looted. Collections that were stolen or destroyed at the museum chronicled some 7,000 years of civilization in Mesopotamia, including the ancient Babylonians, Sumerians and Assyrians.

Louise Haxthausen, the Jordan-based director of the UNESCO office for Iraq, said the country's archaeological sites and cultural facilities have paid a heavy price during Iraq's years of conflict. But she said this year's celebration is an opportunity to restore some of Baghdad's cultural prominence.

"The events scheduled during this year of celebration will also promote the many efforts of Iraqi artists to keep the city's culture alive ... and contribute to help erasing the negative image of a 'war zone,'" she said.

Organizers still have much to do to change the mentality of Baghdad residents, including the owners of theaters dating back decades. Several have rejected government offers to rent or buy the properties, which have been turned unceremoniously into more profitable warehouses and coffee shops.

At Cinema Atlas in central Baghdad, metal bars and wooded boxes are strewn in the corridor. A board meant to display movie posters is dusty, its glass broken. Newly built stalls sell medical equipment and other items. At the entrance, a huddle of plastic tables provides seating for a sidewalk tea shop.

"Cinema and theater died after the fall of Baghdad," said Saad Hashim Abdullah, who began renting out portions of the cinema building to small-time merchants in 2003. Encouraged by improved security, he reopened the cinema in 2009, only to close it again a month later.

"This business is no longer attracting fans. It's ruined," he said.

Not far away, the 1930s-era Cinema al-Zawraa, one of Baghdad's oldest, didn't look much better. A metal plate blocks the entrance. The ornate white facade is falling apart.

Owner Mohammed al-Saadi has no plans to reopen it as a movie hall.

"It is religiously and traditionally unacceptable to run a cinema or theater," he said. "Isn't it better to demolish it and build a beautiful building rather than keep it in ruins for rats?"

Shafiq Mahdi, the director-general of the department of Cinema and Theatre, blamed post-invasion "backwardness" for the loss of Iraq's cultural treasures. He thinks the upcoming year of culture is a "golden opportunity" for Baghdad to rediscover its glamour.

With a government-allocated budget of around $15 million, he bought new equipment, financed production of 24 films and hired experts from France, Germany, Tunisia, Egypt and Iran.

Baghdad-based painter Qassim Sabti echoes Mahdi's optimism.

"We need a new lung to breathe the Iraqi creativity as we have been deprived from such activities long time ago," he said.

Not everyone is convinced.

"Does Iraq really need an event like this now?" asked Baghdad taxi driver Sajad Amjad. He thinks funding for the project could be better spent on improving roads and fixing the city's creaking services.

After a decade of war and sectarian violence, Baghdad is still far from normal.

On Tuesday, al-Qaida affiliated group in Iraq launched a well-coordinated assault of nearly 20 bombings in Baghdad and other cities, killing 65 people and wounding more than 200.

"The timing is not ideal for hosting an event like this," said Hamid al-Shimmari, a Baghdad-based poet. He said Baghdad needs more than upgrades to its cultural infrastructure for an event like this. It also needs a sense of normalcy and stable security.

"Culture is a beautiful world that means tolerance and fantasy, not horror and fear," he added. "The tension is high in every corner and I'm afraid that the upcoming event will not convey a beautiful picture for Baghdad."

But back at the state-run Iraq Fashion House, there is a sense of hope. Artist Ara Yessayan has brought together around 75 youths from different religious and ethnic backgrounds for a performance that will use drama, dance and a fashion show to convey Iraq's nearly 7,000 years of history.

"That's the fact of Iraq. ... Despite the wounds Iraq and Baghdad have suffered, both will survive," he said.

___

Follow Sinan Salaheddin on Twitter at: http://twitter.com/sinansm

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/3d281c11a96b4ad082fe88aa0db04305/Article_2013-03-22-ML-Iraq-Cultural-Hopes/id-8542ac5386d74b99b65e692e2ecc5253

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Friday, March 22, 2013

Colorado governor signs law to allow same-sex civil unions

By Steve Keating ORLANDO, Florida, March 20 (Reuters) - Rory McIlroy's decision to skip the Arnold Palmer Invitational surprised the tournament host, who expressed his disappointment on Wednesday that the world number one was not at Bay Hill this week. The 83-year-old Palmer said he had jokingly suggested he might break McIlroy's arm if he did not show up but did not try to force the young Northern Irishman into making an appearance. "Frankly, I thought he was going to play, and I was as surprised as a lot of people when he decided he was not going to play," said Palmer. ...

Source: http://news.yahoo.com/colorado-governor-signs-law-allow-same-sex-civil-215945552.html

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72% Of Professors Who Teach Online Courses Don't Think Their Students Deserve Credit

3475417696_9565941ee0_nThis is not a good sign for online education: 72 percent of professors who have taught Massive Open Online Courses (MOOCs) don't believe that students should get official college credit, even if they did well in the class. More importantly, these are the professors who voluntarily took time to teach online courses, which means the actual number of professors who discount the quality of MOOCs is probably much (much) higher. The survey reveals the Grand Canyon-size gap between the higher-education establishment and the coalition of tech companies and lawmakers that are mandating college credit for online courses.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/sUyNxbXbdjM/

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Obama urged to step in to fix VA backlog

The numbers are staggering.? The Department of Veterans' Affairs estimates that within a month more than 1 million veterans will have filed for disability benefits -- and they'll all have to wait in line. NBC's Jim Miklaszewski reports.

By Bill Briggs, NBC News contributor

The benefit-claims backlog that has ensnared nearly 600,000 younger veterans ? many with war wounds ? has reached a crisis point inside the Department of Veterans Affairs, and the hour has come for President Barack Obama to become personally involved in unclogging the quagmire, two of the nation's leading veterans advocates told NBC News Thursday.?

"It?s time to go above the VA. If you think of VA as a broken down car, it?s hard for us to know how to fix it if we can?t see under the hood. The president can see under the hood. And the president can send people in to fix it," said Paul Rieckhoff, an Iraq War veteran and CEO of Iraq and Afghanistan Veterans of America, which represents more than 200,000 people.

"When you have so many men and women that are waiting years to see their claims adjudicated, there is a problem and it's somewhere within VA. And the president needs to take a personal interest," said Rep. Jeff Miller, R-Fla., chairman of the House Veterans' Affairs Committee.?

Rieckhoff contends that Obama must answer a key question: With the overall claims tally surpassing 900,000 cases earlier this year and with 34,000 troops soon returning from Afghanistan, should VA Secretary Eric Shinseki be replaced??


In a meeting Wednesday with White House Chief of Staff Denis McDonough, Rieckhoff said he told Obama's top advisor: "We need to hear it from the president" as to whether Shinseki should remain atop the VA.

During a press briefing Wednesday, White House spokesman Jay Carney said: "It is absolutely the president?s position that we need to aggressively address this problem, and he has made clear to Secretary Shinseki that he wants this addressed. He is getting weekly updates on the backlog."

Responded Rieckhoff: "We?re focused on ending the backlog. What we need from the president is a plan to end the backlog. If (Shinseki's removal) is a part of that plan, we?d love to hear about it. The easy thing to do is fire some people. But that won?t necessarily fix things.

"Yes, we need a cultural transformation (at the VA). We need new blood, new ideas," Rieckhoff added. "But three VA secretaries have been there and three VA secretaries have failed. That?s why we?re focused on the president. This is bigger than Shinseki."

IAVA file

"The backlog is the place where veterans end up feeling betrayed. When your claim is delayed 600 days, which is the case if you live in New York or L.A., you feel like your president and your country are letting you down," said IAVA's Paul Rieckhoff, photographed Thursday speaking to reporters in Washington, D.C.

VA official urged to step down
During a congressional hearing Wednesday, Miller called for the resignation of Allison Hickey, the VA's under secretary of benefits. Miller became frustrated when Hickey could not tell the panel where the backlog will stand in 12 months while simultaneously promising that no veterans will be waiting 125 days or more for their benefits?by 2015. Miller said he fears that high-ranking VA officials have failed to reveal to Shinseki the real depth of the claims challenge and the scope of the financial hardships faced by hundreds of thousands of Iraq and Afghanistan veterans ? many who are unable to work due to battle injuries.

Asked Thursday if he believes Shinseki should resign, Miller said: "I am not prepared to ask the same of the secretary. He has a strong desire to do what is right. My fear is his leadership (team) has not been transparent with him to the point that he knows the true picture that exists out there."?

This week, four other prominent veterans' groups ? Student Veterans of America,?The American Legion, Veterans of Foreign Wars?and Disabled American Veterans (DAV) all voiced support for Shinseki and for the work being done by the VA's Veterans Benefits Administration (VBA), which has handled claims for millions of veterans. Those groups argue that the VA's?plan to cut the backlog should be given a chance to work.

"DAV believes that VBA is on the right path, that they have set the right goals and that they have leadership committed to transforming and institutionalizing a new claims processing system to better serve veterans," DAV national legislative director Joe Violante testified Wednesday before a Senate panel examining veterans issues.?

During 2012, the VA paid?$58.6 billion in benefits to 4.3 million veterans or their survivors, according to the VA. The agency reported Thursday that its total "claims inventory" stands at?859,396. The VA defines its "backlog" as claims that have been pending for more than 125 days ? that number stands at 592,222, according to the VA.?

"Secretary Shinseki believes it is unacceptable that veterans are waiting too long to get the benefits they have earned," read a statement emailed by Josh Taylor, a VA spokesman. "That is why VA is implementing an aggressive plan that will solve this decades old problem for good and transform how VA processes claims for decades to come."

But according to Miller, one factor fueling the backlog is that VA claims handlers are not working as efficiently as they did before the wars in Iraq and Afghanistan.?In 1997, the average VA field officer processed 138 claims a year while, in 2011, with three times as many overall employees, the average VA field officer processed 73 claims a year, Miller said.?

"I have confidence at this time that (Shinseki) has a desire to move in the right direction. He leads an organization of 300,000 people that delivers some of the best health care in the world as well as educational benefits," Miller said. "But this benefits backlog, unfortunately, is going to be a stain that will stay with VA for years to come."

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Source: http://feeds.nbcnews.com/c/35002/f/653381/s/29d8ab5f/l/0Lusnews0Bnbcnews0N0C0Inews0C20A130C0A30C210C1740A4780A0Eobama0Eurged0Eto0Estep0Ein0Eto0Efix0Eva0Ebacklog0Dlite/story01.htm

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