Tuesday, January 31, 2012

[OOC] The Morning After the Music Ends.

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Eric D. Isaacs: Smart Manufacturing Key to American Innovation

After stunning sales in the last quarter, Apple just became the most valuable publicly-traded company in the world, with a market value of $419 billion -- proving yet again that American ingenuity and technological know-how remain unsurpassed in the global economy.

So why were almost all of the 70 million iPhones, 30 million iPads and 59 million other products Apple sold last year manufactured overseas?

The conventional wisdom would say that manufacturing jobs are leaving the United States to chase cheap labor, and that America will never again be able to compete with China or other nations where workers are willing to work 12 hours a day, six days a week, for just $1 or $2 an hour. This grim future of American manufacturing was summed up memorably by the straight-talking (fictional) presidential candidate Jack Stanton in the movie Primary Colors: "We now live in a world without economic borders. Push a button in New York and a billion dollars moves to Tokyo. In that world, muscle jobs go where muscle labor is cheap, and that is not here."

There's just one problem with the conventional wisdom: It's wrong. It reflects old-fashioned notions of assembly-line manufacturing that rely on human labor to insert tab A into slot B, thousands of times per shift. But while repetitive, unskilled, mind-numbing human labor may have powered the manufacturing economy of the last century, today's factories replace unskilled labor with high-tech automation that can provide spotless precision 24 hours a day, seven days a week.

So if low-cost human labor is not the deciding factor, why is America's manufacturing sector leaving our shores -- and more important, what can we do to bring it back home?

These are tough questions, with complicated, multiple-choice answers. But one thing is clear: Other countries are producing huge numbers of highly skilled, well-educated workers to oversee high-tech manufacturing, and America is falling behind.

As the Council on Competitiveness noted in its recent report, Make: An American Manufacturing Movement, "American manufacturers lack people with the necessary education and know-how to fill thousands of jobs, including skilled laborers, technicians, scientists and engineers."

The recent article in the New York Times on Apple's decision to outsource production summed up the problem in a single anecdote: When the iPhone was first going into production, "Apple's executives had estimated that about 8,700 industrial engineers were needed to oversee and guide the 200,000 assembly-line workers eventually involved in manufacturing iPhones. The company's analysts had forecast it would take as long as nine months to find that many qualified engineers in the United States.

"In China, it took 15 days."

Something is very wrong when good jobs go overseas because American corporations can't find enough qualified Americans to fill them here.

Let me stress: This problem has nothing to do with the ability or intelligence of American workers. We simply haven't been providing the training those workers need to fill those spots -- and we haven't been working in partnership with U.S. companies to make sure those jobs will be here when those workers complete their diplomas or training certificates.

We have to solve this problem, and we have to do it fast. Partly, we need to make sure that Americans who want to work have the skills they need to fill the available jobs. That means investing in community colleges and training programs that are tightly aligned with the current and anticipated needs of our high-tech companies.

But even more important, we need to "reshore" American manufacturing to create the kinds of productive innovation ecosystems that are powering our overseas competitors. U.S. companies cannot expect to prosper with an "Invent it here, make it there" business model. We need to invest in new hubs of industrial innovation that will bring together researchers, inventors, investors, manufacturers -- and factory workers.

When designers and engineers at high-tech companies share a roof, a campus or a zip code with their factory foremen, it creates opportunities to discuss ideas, test theories and solve problems. Ultimately, those ideas flowing back and forth between the R&D department and the factory floor result in better consumer products, increased sales, and higher profits.

As the fictional Jack Stanton noted, to compete successfully in the new global economy, "You have to exercise a different muscle -- the one between your ears." That's true for American workers, and it's true for American companies. We can never hope to be the world's cheapest labor force. Our only hope is to become the world's smartest -- and that, I believe, we can do.

?

Follow Eric D. Isaacs on Twitter: www.twitter.com/argonne

Source: http://www.huffingtonpost.com/eric-d-isaacs/apple-china_b_1239168.html

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Monday, January 30, 2012

Fed: US banks tighten lending to Europe banks (AP)

WASHINGTON ? A Federal Reserve survey has found that more than half of U.S. banks that lend to European banks have tightened their standards, a reflection of the persistent European debt crisis.

Of the 26 U.S. banks surveyed that make loans to European banks, five said they had tightened their standards considerably in the October-December quarter. Another 10 said that they had tightened them somewhat in the same period, according to the survey released Monday.

Many economists predict that Europe's debt crisis will push the region into a recession this year. Many European banks are heavily exposed to government debt, making the banks more of a risk.

In the U.S., banks are seeing more small businesses apply for loans, according to the Fed's quarterly survey of loan officers for large banks.

The percentage of banks reporting increased loan demand from companies with annual sales of less than $50 million rose to the highest level since 2005, the survey found.

Economists saw the increase in demand for loans as a good sign for future economic growth because it indicates that more companies are confident and may be looking to hire more and expand.

"Businesses are starting to look to grow and they need loans to do it," said Mark Zandi, chief economist at Moody's Analytics.

Zandi said while loan standards are still tight compared to the period before the financial crisis hit, they have been eased in recent quarters and that is a good sign for future growth as well.

"The credit spigot is slowly opening after having been closed tight during the credit crunch," Zandi said. "That is good because we need credit to flow for this recovery to gain traction."

Source: http://us.rd.yahoo.com/dailynews/rss/europe/*http%3A//news.yahoo.com/s/ap/20120130/ap_on_bi_ge/us_fed_loan_survey

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Prosecutors plan retrial in Katrina shootings cover-up case (Reuters)

NEW ORLEANS (Reuters) ? Federal prosecutors plan to seek a retrial for a retired New Orleans police detective accused of conspiring to cover up wrongdoing in police killings in the aftermath of Hurricane Katrina, a spokeswoman said on Saturday.

A federal judge declared a mistrial on Friday in the case of Gerard Dugue, who was accused of obstructing justice, lying to the FBI and of civil rights violations by writing false police reports about the 2005 shooting.

"The government intends to retry Gerard Dugue," said Anna Christman, a spokeswoman U.S. Attorney Jim Letten. She declined to comment on the mistrial.

Police shot dead two unarmed civilians in the incident on the Danziger Bridge as much of New Orleans remained under water from flooding in the chaotic days following the hurricane.

Dugue was not directly involved in the shootings but took up the investigation a few months later.

U.S. District Judge Kurt Engelhardt granted a mistrial in his case after a prosecutor mentioned a separate case that involved the defendant while questioning Dugue on the witness stand. The judge had warned attorneys not to mention that case.

Dugue's trial, which had opened on Monday, had been expected to take two weeks as the final proceeding against a group of police officers charged in connection with the shootings.

Ronald Madison, 40, and James Brissette, 17, were killed, and four others were seriously injured on the bridge after New Orleans police officers responded to a call about gunfire.

Prosecutors painted a picture of out-of-control officers firing indiscriminately at bystanders. Defense lawyers said the officers saw guns and believed they were in danger.

Last summer, jurors convicted five officers of civil rights violations and obstruction of justice in the case. The officers face sentences that could range up to life in prison.

Five other officers had pleaded guilty to participating in the shootings or cover-up and were sentenced to three to eight years in prison each. Most of those officers testified for the prosecution in the trial last summer and some had testified at Dugue's trial this week.

(Reporting by Kathy Finn; Editing by David Bailey and Cynthia Johnston)

Source: http://us.rd.yahoo.com/dailynews/rss/crime/*http%3A//news.yahoo.com/s/nm/20120129/us_nm/us_neworleans_police_mistrial

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Tributes to Paterno highlight influence of wife (AP)

STATE COLLEGE, Pa. ? For decades, Joe Paterno was the public face of Penn State. For almost as long, his near-constant companion, wife Sue, seemingly wielded as much influence.

As tributes flowed this week for the late Hall of Fame coach, the extent of Sue Paterno's sway on her husband, the football program and the university became obvious, for those watching in or outside of Happy Valley.

She served as a host to potential recruits at the family home, a tutor to players, a counselor to concerned parents who entrusted their football-playing sons to her husband, and a prodigious fundraiser for the university and charitable organizations.

While a bronze statue outside Beaver Stadium memorializes the legacy of the winningest coach in major college football, it was Sue Paterno who was her husband's rock.

"For my dad, he never doubted my mother," their son Jay said at Thursday's memorial service for his father. "My mother had it all and continues to have it all. He could do his job and we could share him with Penn State because he knew my mother was in complete command on the home front."

Through the recent months of scandal that engulfed the university and a week's worth of private and public memorials for Penn State's longtime coach, other lasting images of Sue Paterno have emerged:

_She showed her spunk by coming to her husband's defense with a quick callback to a trustee after Joe Paterno was unceremoniously fired via a phone call. "After 61 years he deserved better," Sue Paterno said according to The Washington Post. Then, she hung up.

_A short time after being dismissed, she stood arm in arm with her husband as they stepped outside their modest State College home and greeted hundreds of well-wishers.

_And at the end of an emotional week in State College, Sue Paterno appeared composed, only occasionally fighting back tears, with her arms around some of her grandchildren as about 12,000 people gathered for public memorial. She rose from her seat and joined in a standing ovation as speakers defended his legacy against criticism that he failed to do more when told about an alleged child sexual assault involving one of his former assistants.

The Paternos were about as close to royalty as you can get in Happy Valley ? a modest first family of college football.

"They went everywhere together," former quarterback Daryll Clark said this week. "They were one and one."

Joe Paterno died Sunday at age 85, less than three months after being diagnosed with lung cancer.

"Joe Paterno indeed had an indomitable will with one exception: when his will ran counter to that of his wife and my mother," Jay Paterno said in a light moment from the memorial service for the man who became lovingly known around town as "JoePa."

Save for a few moments, 71-year-old Sue Paterno looked composed for a widow who just lost her husband under already emotional circumstances. Their family announced Paterno had been diagnosed with cancer just 10 days after he was ousted on Nov. 9 as Penn State coach following 46 seasons.

Sue and Joe Paterno were side by side on the family's front walk the night of the dismissal as he tried to console fans upset that he had been fired in the aftermath of child sex abuse charges against retired assistant Jerry Sandusky.

She joined the rest of the crowd at the memorial service giving Phil Knight a standing ovation after the Nike founder and CEO gave the most impassioned defense yet of her husband's legacy in the wake of the firing.

Appearing to nearly tear up at times, she otherwise looked poised during the emotional service that included several video tributes to Paterno, who amassed 409 victories.

Despite their recognition, they led lives similar to others who worked at Penn State. They raised five children in a ranch home next to a local park. There's no fence lining the front yard and no gates guarding the driveway.

The family's phone number is listed in the phone book. It was a way, Sue Paterno has said, for families of players to reach them in an emergency.

Besides tutoring players and helping to counsel players' parents, Sue Paterno was a prodigious fundraiser for the university library that bears the family's name ? it was, after all, where Joe and Sue met, when he was an assistant coach and she a freshman at the school.

He had a degree in English literature from Brown. She was an English student.

Outside of football, they rarely spent a moment apart.

"Besides Joe coaching and being at the football building, those two were inseparable," Clark said. He said the Paternos treated him as if he were one of their own children.

Sue Paterno baked spreads of cookies and desserts when the family hosted recruiting visits. Current and former players still rave about them.

At the memorial service, former receiver Kenny Jackson recounted a conversation Sue Paterno had with his family while he was being recruited. She reinforced the themes Joe Paterno promoted in his "grand experiment" of placing as much emphasis on academics as athletics.

"Sue only promised two things: the first, Kenny will go to class; second, he will get a quality education," Jackson said. "That's all she said. She never talked about anything else but my education. So I thank you Sue. ... You always made sure that was the first priority."

And she's responsible for perhaps one of the most lasting game-day memories of Joe Paterno.

Back in the late `60s, Sue Paterno suggested he raise the cuffs on his pants so mud wouldn't get on his wool slacks while coaching. It wasn't as much a concern when JoePa switched to his trademark khakis ? but Sue Paterno said her husband kept rolling them up anyway as a superstition.

"People don't realize how much she's done for this place," Joe Paterno said in an interview with The Associated Press in 2009. "I've said many times that they won't have any problems replacing me, but if they can find a coach's wife like Sue, they'll hit the jackpot."

The Paternos became renowned in the community for their generosity. They championed Special Olympics and THON, the Penn State student-organized dance marathon charity that raises millions of dollars annually for childhood cancer research and treatment.

They've contributed more than $4 million to the university during his tenure, including $3.5 million in 1998 to endow faculty positions and scholarships, and support two building projects.

Minus endorsements outside his university contract, Paterno made just more than $1 million a year, a relative bargain for a coach with two national championships.

Three years ago, the Paternos pledged $1 million to help build a new wing at Mount Nittany Medical Center, the State College hospital where Joe Paterno died Sunday.

There were no flowers or balloons in the room, Scott Paterno said ? not Joe's style. He suspected his mother had them redirected to other patients in the hospital.

Joe Paterno died less than three months after the emergence of the stunning scandal that led to his dismissal. University trustees ousted him Nov. 9, four days after charges were first filed against Sandusky. He is out on bail and awaiting trial after denying the allegations.

Paterno was a witness before a state grand jury investigating Sandusky, and authorities have said he was not a target of the probe. Paterno had testified he had relayed a 2002 abuse allegation passed on by a graduate assistant to campus superiors, fulfilling his legal obligation.

School trustees in recent weeks have cited, in part, Paterno's failure to fulfill a moral duty to tell police outside the university as a reason for his dismissal.

A tenure of more than six decades with the football program, including 15 years as an assistant before being promoted to head coach, had come to an end in early November. The cancer diagnosis came several days later.

Sue Paterno was constantly at her husband's side, Scott Paterno said.

One of Scott Paterno's lasting memories from the last few months, as his father fought illness, was the picture of his parents sitting at a table at home, surrounded by their children and 17 grandchildren on Dec. 21 as they celebrated his 85th birthday.

"She's got his hand on him and they're sitting there looking around and they've got their smiles on their faces," Scott Paterno said. "Just two of the most happy and contented people looking around the house, looking at their children and their grandchildren and it was like `You know, this is what our life is, this is what we built.'"

Source: http://us.rd.yahoo.com/dailynews/rss/sports/*http%3A//news.yahoo.com/s/ap/20120128/ap_on_sp_co_ne/fbc_penn_state_the_paternos

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Sunday, January 29, 2012

Subpoenas issued to financial firms in expanded probe (Reuters)

WASHINGTON (Reuters) ? The Justice Department issued civil subpoenas to 11 financial institutions as part of a new effort to investigate misconduct in the packaging and sale of home loans to investors, Attorney General Eric Holder said on Friday.

Holder declined to provide specifics, including the names of the firms.

"We are wasting no time in aggressively pursuing any and all leads," Holder said at a news conference announcing details of a new working group to investigate misconduct in the residential mortgage-backed securities (RMBS) market, "you can expect more to follow."

President Barack Obama said he directed Holder to create the new unit in his State of the Union speech late Tuesday, saying it was needed to "help turn the page on an era of recklessness."

On Friday a slew of federal and state officials appeared at the news conference to provide details about the new group.

Housed within an earlier financial fraud task force that Obama created in 2009, it is expected to be staffed with around 50 attorneys, analysts and agents, officials said.

Some skeptics have questioned whether the new group is largely a political move because the other fraud task force already exists.

Also, the Obama administration has received heat from left-leaning activist groups that believe a separate effort to investigate misconduct in processing foreclosures and servicing home loans may not be rigorous enough to extract a meaningful settlement.

In exchange for providing up to $25 billion in housing relief, much in the form of cutting mortgage debt for distressed borrowers, the top U.S. banks are expected to put behind them government lawsuits about lending and servicing abuses - but not securitization claims.

The banks involved in the discussions include Bank of America, Wells Fargo & Co, JPMorgan Chase & Co, Citigroup and Ally Financial Inc.

Those talks have dragged into their second year as some states, including California and New York, criticized the direction of the negotiations and said the proposed settlement would release the banks from too many claims.

The deal appears to be getting closer, with last-ditch efforts to lure the hold-out states to join.

California has said it still has reservations about the deal, but California Attorney General Kamala Harris has met in recent weeks with federal officials in Washington to discuss her concerns about the settlement, people familiar with the matter said.

The attorney general in New York, Eric Schneiderman, was named as a co-chair of the new working group, prompting speculation that the position was partly aimed at persuading him to join the settlement.

In an interview with Reuters, Schneiderman said: "The releases have become narrow enough so that I'm confident a full investigation can go forward." Asked if he was signing on, he said, "Not yet," because "other issues" are still outstanding.

MULTIPLE EFFORTS

At the news conference, U.S. Housing and Urban Development Secretary Shaun Donovan also said that the multistate deal will not prevent the working group from pursuing its own claims about the securitization of home loans.

"We would not be standing here today if we weren't absolutely confident that the releases that are being contemplated were quite narrow, focused on the conduct that was actually investigated," Donovan said.

"There will be concrete actions taken in the next few weeks to confirm we're serious," Schneiderman added in the interview.

Exactly what the new group will tackle is unclear, since the construction and sale of mortgage securities is already the subject of massive government and private lawsuits.

"The simple fact is that this is an election year, and politics will inevitably play a role in every aspect of what is at its core a superfluous investigation," said Richard Gottlieb, who heads the financial industry group at the law firm Dykema.

"Others have already done the leg work, the lawsuits have already been filed, and the courts will already be deciding these issues," said Gottlieb.

The Federal Housing Finance Agency, for example, which oversees Fannie Mae and Freddie Mac, sued 17 large banks last September over losses on about $200 billion of subprime bonds and said the underlying mortgages did not meet investors' criteria.

Speaking at the news conference, U.S. Securities and Exchange Commission enforcement director Robert Khuzami said his agency has already reviewed 25 million pages of documents on related investigations.

"To be clear, investigations into RMBS offerings have been ongoing at the SEC," Khuzami said.

Holder said the Justice Department had discussed the subpoenas with the SEC, and said the new requests do not duplicate earlier efforts from the SEC.

He also responded to criticism that federal enforcers have brought few marquee cases in the aftermath of the financial crisis. Holder said the department has brought around 2,100 mortgage-related cases.

"The notion that there has been inactivity over the course of the last three years is belied by a troublesome little thing called facts," Holder said.

Several top banks, including Bank of America, Citigroup, JPMorgan, RBS Americas and Deutsche Bank, declined to comment when contacted by Reuters about the new working group's efforts.

(Reporting By Aruna Viswanatha and Jim Vicini in Washington, D.C. and Karen Freifeld in New York; Editing by Tim Dobbyn and Matthew Lewis)

Source: http://us.rd.yahoo.com/dailynews/rss/business/*http%3A//news.yahoo.com/s/nm/20120127/bs_nm/us_mortgages_subpoenas

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Saturday, January 28, 2012

Sports briefs: ASU football adds 3 assistants

Sports briefs: ASU football adds 3 assistants

The Appalachian State football program, which has lost seven assistant coaches in the last two months, has hired three new assistants. Justin Stepp, a graduate assistant at Clemson in 2011, will

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Source: http://www.citizen-times.com/article/20120127/SPORTS/301270041/1002/rss

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Bill Gates Donates $750 Million to Global Fund

[unable to retrieve full-text content]The donation to the struggling Global Fund to Fight AIDS, Tuberculosis and Malaria was made as a promissory note intended to tide it over regular cash shortages.

Source: http://feeds.nytimes.com/click.phdo?i=563e0c47a0090b9deb7da512b0b4d7e6

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Obama's 'State of the Campaign' Speech (ContributorNetwork)

President Obama gave his third State of the Union speech Tuesday, which was nothing more than a thinly veiled campaign speech.

The president began by reminding us that Osama bin Laden was killed under his watch.

When bin Laden was killed in a military raid, Obama took most of the credit in his speech. This turned out to be untrue, as reported on Yahoo! and many other media outlets. Like many of Obama's "triumphs," his involvement was greatly exaggerated.

This lead into his usual collectivism clap-trap.

"They're not consumed with personal ambition," Obama read aloud from teleprompters. " They work together."

Obama also touted job growth, when the truth is that they are counting less people in order to keep the unemployment percentage artificially low, as also reported on Yahoo!.

Obama stated, "Today, for the first time in 15 years, Master Lock's unionized plant in Milwaukee is running at full capacity." This, no doubt, is due to the ridiculously high number of foreclosures. The banks padlock the doors on these houses upon eviction.

Regarding foreclosures, Obama condemned banks for doing what Democrats mandated that they do. Through the Community Reinvestment Acts passed under the Carter and Clinton Administrations and strong-arming by the likes of Barney Frank, advocating on behalf of Fannie Mae and Freddie Mac. Forbes Magazine wrote an excellent article exposing the truth behind the "housing bubble."

During the speech, Obama calls for reduced spending and tax cuts, then advocates for raising taxes and much more spending.

Obama calls for doubling capital gains taxes, which will be detrimental.

This, in turn, will hurt the middle class Obama pretends to care about. Those with retirement funds such as 401k's and 457 plans, based on stock investments, would also be subject to higher tax rates which would significantly cut into their retirement funding.

Additionally, doubling the capital gains tax would deter investment in up-and-coming businesses which create jobs. Established corporations also use investment funding for projects which allow for job retention. A reduction in investors would also negatively affect the retirement plans of the middle class by significantly decreasing their value.

The millionaires and billionaires Obama is trying to make us all hate, through farcical concepts such as the "Buffet Rule," can afford to pull all of their investments and live off of what they own if it gets to that point, causing the market to crash.

Some of the spending Obama called for is increased government "investments" in green energy companies, like Solyndra, and the creation of yet more bureaucracies. He announced the creation of the Trade Enforcement Unit " that will be charged with investigating unfair trading practices in countries like China." Another new bureaucracy he announced is the Financial Crimes Unit, aimed at investigating the banks for doing what the government made them do.

The most hypocritical part of Obama's speech was his call for increased domestic energy production and American jobs after he killed the Keystone XL pipeline project which would have created tens of thousands of jobs.

Source: http://us.rd.yahoo.com/dailynews/rss/obama/*http%3A//news.yahoo.com/s/ac/20120127/pl_ac/10890473_obamas_state_of_the_campaign_speech

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Friday, January 27, 2012

3M posts small profit increase in 4Q (AP)

NEW YORK ? 3M says its profit inched 3 percent higher in the fourth-quarter as growth in basic products like Post-Its and police tape offset declines in its high-tech products.

The maker of everything from Scotch Tape to computer arms also maintained its profit forecast for 2012 as it expects slower economic growth around the world.

The Maplewood, Minn., company said Thursday it earned $954 million, or $1.35 per share, compared with $928 million, or $1.28 per share, a year ago.

Revenue rose 6 percent to $7.09 billion.

FactSet says analysts expected a profit of $1.31 per share on revenue of $7.09 billion.

3M Co. said sales were strongest for the company's industrial and transportation unit. Sales fell in its electronics and communications and display and graphics segments.

Source: http://us.rd.yahoo.com/dailynews/rss/earnings/*http%3A//news.yahoo.com/s/ap/20120126/ap_on_bi_ge/earns3m

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AT&T posts 4Q loss on charges; revenue increases

In this Jan. 23, 2012 photo, the AT&T globe logo hangs on an AT&T Wireless store in Hanover, Mass. AT&T Inc. reported a fourth-quarter loss Thursday, Jan. 26, 2012, as results were weighed down by hefty charges. But strong smartphone sales led to the best-ever quarter in activations. (AP Photo/Stephan Savoia)

In this Jan. 23, 2012 photo, the AT&T globe logo hangs on an AT&T Wireless store in Hanover, Mass. AT&T Inc. reported a fourth-quarter loss Thursday, Jan. 26, 2012, as results were weighed down by hefty charges. But strong smartphone sales led to the best-ever quarter in activations. (AP Photo/Stephan Savoia)

(AP) ? AT&T Inc. is still the home of the iPhone. It activated 7.6 million of them in the latest quarter, accounting for one out of every five iPhones sold globally.

And AT&T remains heavily dependent on the iPhone to gain and keep customers, despite a vow by CEO Randall Stephenson a year ago to "very aggressively" market competing smartphones in 2011. That vow came in the wake AT&T's loss of an exclusive right to sell the iPhone in the U.S.

The iPhone accounted for about 80 percent of the smartphones AT&T activated in the fourth quarter of 2011, up from 70 percent just before Stephenson made his vow.

The figures are somewhat skewed because the fourth quarter of 2011 saw the launch of a new iPhone model, the iPhone 4S, whereas the fourth quarter of 2010 didn't. Looking at annual sales instead, there's a decline in the iPhone's percentage of AT&T smartphones ? to 69 percent last year, from 79 percent in 2010.

The Dallas-based company has also retained its position as the premier U.S. iPhone carrier, beating Verizon Wireless' 4.3 million iPhone activations handily.

AT&T's iPhone dependency comes at a heavy cost. The phone is more expensive than many other smartphones, and AT&T needs to subsidize each iPhone with hundreds of dollars to put it in customers' hands for as little as $1.

That, together with massive charges for adjustments in the value of the company's pension plans, the breakup of a deal to buy T-Mobile USA and a writedown of the value of its phone-directory business, forced AT&T to report a massive loss on Thursday of $6.68 billion, or $1.12 per share, for the fourth quarter.

It was the first quarterly loss for AT&T in three years. An adjustment of pension-plan obligations was also the main culprit behind the previous loss, in the fourth quarter of 2008.

Excluding charges, net income was 42 cents per share in the latest quarter, a penny shy of Wall Street expectations, according to a survey by FactSet.

The loss compares with net income of $1.09 billion, or 18 cents per share, in the same period a year earlier.

Revenue rose 3.6 percent to $32.5 billion, helped by the smartphone sales. Analysts were expecting revenue of $31.99 billion, on average.

AT&T also said it expects earnings per share to grow by a mid-single-digit percentage in 2012, a bit lower than analysts had expected.

In morning trading Thursday, shares of AT&T Inc. fell 63 cents, or 2 percent, to $29.59.

In a welcome move for investors, AT&T is shifting the cash it had hoped to buy T-Mobile with into stock buybacks, saying it will buy back 300 million shares, worth about $9 billion at current prices, into a program that will start immediately.

Most of the iPhone activations were upgrades for people who were already AT&T subscribers. The carrier gained a net 717,000 subscribers on contract plans in the quarter. That was the best result all year, but didn't match Verizon's 1.2 million. AT&T has been lagging Verizon in this important measure for more than a year.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/495d344a0d10421e9baa8ee77029cfbd/Article_2012-01-26-Earns-ATandT/id-6d00918c27284960afe9a45426eedef1

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Thursday, January 26, 2012

Makers defend Islam movie criticized by NYC mayor (AP)

NEW YORK ? The filmmakers behind a documentary on radical Islam whose showing was criticized by New York Mayor Michael Bloomberg are defending their work.

The Clarion Fund said Wednesday its movie, "The Third Jihad," accurately describes the Muslim terrorist threat.

Muslim groups say it paints them as terrorists and encourages Americans to distrust them.

Bloomberg on Tuesday said New York police used terrible judgment when they showed the movie on the sidelines of counterterrorism training sessions in 2010.

New York Police Department Commissioner Ray Kelly appears in the film talking about the threat of terrorists using nuclear weapons. The NYPD says Kelly regrets doing the interview with the filmmakers.

Many Muslim groups worry the NYPD is teaching officers to regard all Muslims as suspects. An Associated Press investigation last year revealed the NYPD has operated a surveillance program targeting ethnic neighborhoods.

Source: http://us.rd.yahoo.com/dailynews/rss/movies/*http%3A//news.yahoo.com/s/ap/20120125/ap_en_mo/us_nypd_intelligence_movie

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Kickstarter: Cassette, A Documentary About, You Guessed It, Cassettes

cassetteThose of our readers old enough to remember the 90s will almost certainly recall cassette tapes fondly. The clacky little tapes and their creaky cases have more or less disappeared from the world, and no surprise: they were fragile, limited, and sounded pretty bad. But they were also hugely empowering, and helped produce in an age of comparative consumer powerlessness the same feeling we take for granted today: that we should be able to copy, lend, and duplicate the content we've bought. Cassette is a documentary looking for a few bucks on Kickstarter that hopes to highlight cassette culture then and now.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/PSSctdK89g4/

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Wednesday, January 25, 2012

Obama and GOP candidates offer a campaign preview (AP)

WEST PALM BEACH, Fla. ? On a day that combined two campaigns into one, President Barack Obama on Wednesday challenged Republicans to raise taxes on the rich as Republicans Mitt Romney and Newt Gingrich swiped at him on the economy and criticized each other over immigration.

With a week to go before the Jan. 31 Florida Republican presidential primary, the polls suggested a tight race, although Romney and his allies seized a staggering advantage in the television ad wars. They have reported spending $14 million combined on commercials, many of them critical of Gingrich, and a total at least seven times bigger that the investment made by the former House speaker and an organization supporting him.

Obama's political timeline was a different one, Election Day on Nov. 6. In a campaign-style appearance in Iowa, he demanded Congress approve a tax increase for anyone like Romney whose income exceeds $1 million a year.

"If you make more than a million dollars a year, you should pay a tax rate of at least 30 percent. If, on the other hand, you make less than $250,000, which includes 98 percent of you, your taxes shouldn't go up," he said after touring a manufacturing plant in Cedar Rapids and in a state that he won in 2008 that was expected to be a battleground in the fall.

"This is not class warfare," he said. "That's common sense."

As Obama surely knew, it was an offer Gingrich, Romney and the anti-tax Republicans in Congress are likely to find easy to refuse.

In general remarks that his aides billed as a rebuttal to the State of the Union speech, Romney said Obama "seemed so extraordinarily detached from reality, so detached from what's going on in Florida," where unemployment is 9.9 percent and the mortgage foreclosure crisis has hit particularly hard.

"He said last night how well things are going," Romney said. "If you really think that things are going well, that we're on the right track, and that his policies are working, then you ought to vote for him."

Gingrich was far harsher at an appearance in Miami.

"If he actually meant what he said it would be a disaster of the first order," Gingrich said of the president's call for higher taxes on millionaires.

The former House speaker said the president's proposal would double the capital gains tax and "lead to a dramatic decline in the stock market, which would affect every pension fund in the United States."

"It would affect every person who has a 401(k). It would attack the creation of jobs and drive capital outside of the United States. It would force people to invest overseas. It would be the most anti-jobs single step he could take," he said.

Under current law, investment income is taxed as the rate of 15 percent, a fact that has come to the fore of the campaign in recent days with the release of Romney's income tax return.

Wages, by contrast, are taxed at rates that can exceed 30 percent.

Electablity is the top concern for GOP primary voters, according to polls taken in the primary and caucus states, so both Republicans were eager to paint a contrast with the president.

But Romney and Gingrich also focused on the Florida primary now seven days distant.

Romney has long led in the state's polls, but Gingrich's upset victory last Saturday in the first-in-the-South primary in South Carolina revitalized his candidacy and raised questions about the former Massachusetts governor's staying power.

Former Pennsylvania Sen. Rick Santorum is also on the ballot, as is Texas Rep. Ron Paul.

But Santorum has been sinking in the polls as Gingrich rises, and Paul has indicated he intends to bypass the state to concentrate on caucuses to be held elsewhere.

That gives Florida the feel of a two-man race, and Romney and Gingrich are treating it that way. The two men sparred heatedly Monday night in a debate that virtually relegated Santorum and Paul to supporting roles.

A second debate is set for Thursday in Jacksonville. And if their separate appearances during the day on the Spanish-language television network Univision is a guide, it will be as feisty as the first.

Gingrich referred acidly to Romney describing a policy of "self-deportation" as a way of having illegal immigrants leave the country without a massive roundup.

"You have to live in a world of Swiss bank accounts and Cayman Island accounts and automatically $20 million income for no work to have some fantasy this far from reality," he said, referring to some of the details disclosed this week when the former Massachusetts governor released his tax returns.

"For Romney to believe that somebody's grandmother is going to be so cut off that she is going to self-deport, I mean, this is an Obama-level fantasy."

Romney's campaign swiftly produced evidence that aides to Gingrich had used the term "self-deport" approvingly, and the former governor attacked.

"I recognize that it's very tempting to come out to an audience like this and pander to the audience," Romney said. "I think that was a mistake on his (Gingrich's) part."

Gingrich also ran into trouble over a radio ad his campaign was airing that called Romney "anti-immigrant." Sen. Marco Rubio, R-Fla., who is neutral in the presidential race, criticized the commercial, and Romney said the term "anti-immigrant" was an epithet.

For Obama, Iowa was the first of five stops in three days following a State of the Union speech in which he stressed the theme of income equality that is expected to be one of the cornerstones of his re-election campaign. He also wove in proposals to help restore the U.S. manufacturing base that has withered in the course of the recession that began in 2008.

"Our economy is getting stronger, and we've come too far to turn back now," he told workers and guests at a conveyor manufacturing plant in Cedar Rapids. Speaking of Republicans, he said, "Their philosophy is simple: We're better off when everyone is left to fend for themselves and play by their own rules."

It's a message that may be received differently depending on the local economy.

Iowa's unemployment was most recently measured at 5.6 percent, well below the national average. In Arizona, which has its primary in four weeks, joblessness is 8.7 percent, while Nevada's at 12.6, the highest in the country. Its caucuses are Feb. 4.

___

Associated Press writers Brian Bakst and Kasie Hunt in Florida contributed to this report.

Source: http://us.rd.yahoo.com/dailynews/rss/obama/*http%3A//news.yahoo.com/s/ap/20120125/ap_on_el_pr/us_campaign_rdp

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Posthumous US asylum bid highlights gang debate

Josue Rafael Orellana Garcia fled his impoverished neighborhood in Honduras for the United States as a teenager, to escape what began as teasing over his disabilities and escalated into what his mother said were threats to kill him if he did not join a gang.

Making his way illegally to New Jersey to be with his mother, he applied for asylum in 2008, claiming he'd be killed by gangs if forced to return to the small but violence-plagued nation. He lost his case, was deported in 2010, and last year was found dead, his body riddled with bullets. He was 20.

Now his family has taken the unusual step of trying to win him asylum posthumously. His attorney, Joshua Bardavid, said it's an effort to get the U.S. government to acknowledge the "entire system let him down" and to call attention to the plight of thousands of Central American teenagers.

But the case also highlights a growing debate among immigration experts over whether the grounds for asylum in the United States should be expanded to include more modern forms of conflict, such as gang violence.

To be granted asylum in the U.S., applicants must prove a well-founded and documented fear of persecution because of their race, religion, nationality, political opinion or membership in a particular social group. They must also show that the government or ruling authority in their home country is unwilling or incapable of adequately protecting them.

U.S. Immigration Judge Frederic Leeds in Newark found Orellana's claims credible but said the young man had not sufficiently documented that he and his family had been targeted by gangs. Even if he had, there is no legal precedent for extending "the concept of family group to the concept of joining gangs," wrote the judge, while expressing appreciation for what he said were creative arguments on the young man's behalf.

Though the law does not consider the threat of gang recruitment as meeting the definition of a protected social group, some believe it should, said Dana Leigh Marks, the president of the National Association of Immigration Judges.

"There are those who would argue the asylum law is old-fashioned and needs to be modernized, while others would argue it is a limited remedy that is not supposed to resolve all problems and allow everyone to qualify," Marks said.

The Office of the United Nations High Commissioner for Refugees, the international body responsible for the protection of refugees and asylum seekers worldwide, issued a memo in 2010 urging courts to expand existing asylum law interpretations to consider victims of organized gangs as warranting protection, if their cases satisfy all other legal requirements.

But those who oppose expanding the class of potential asylum seekers say it could undermine an already overburdened U.S. immigration system with a flood of new applicants.

"There's no limit to the categories you could add by our (U.S.) standards. There is a lot of oppression in the world," said Steven Camarota, director of research at the Washington, D.C.-based Center for Immigration Studies, an organization which advocates stricter immigration rules and believes asylum and all other aspects of immigration law should be decided by the U.S. Congress, not the courts.

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"We may find the treatment of women in some countries poor, compared to our standards, but would you say if they're treated poorly, they're a member of a particular social group?" Camarota said.

Ricardo Estrada, a minister of migratory affairs with the Honduran embassy in Washington, said he was not familiar with Orellana's case but that "it's likely that his story could be true, because conditions point to it."

"Lamentably, our country is going through a crisis of violence," Estrada told The Associated Press, in an interview conducted in Spanish. "The problem is enormous, and security is an issue the government is really trying to tackle, but it's very challenging with a government that has little resources in comparison to the narco-cartels, who often have better arms than the police."

Investigators face a huge backlog of homicide investigations, but have few resources, he said.

Honduras has the highest homicide rate in the world, according to a 2011 United Nations report which cited 6,200 killings, or 82.1 murders per 100,000 inhabitants, in 2010. Earlier this month, the Peace Corps withdrew all volunteers from the country, citing safety and security concerns. The U.S. agreed this past week to send a team of experts to help the Honduras government with "citizen security issues."

In a motion filed in December with the Board of Immigration Appeals, Bardavid argued that Orellana, as a result of being shot dead after being deported, now meets the burden of proof required of asylum applicants to show they would suffer irreparable harm if sent back to their country.

"I think it's something that needs to be acknowledged: that we failed him; that he came here seeking safety, and the entire system let him down," Bardavid said.

Spokeswoman Kathryn Mattingly of The Executive Office for Immigration Review, which oversees the BIA, said the agency does not comment on pending cases or prior decisions.

Orellana's mother, Josefa Rafaela Garcia Mejia, lives legally in the United States under a program that allows immigrants from qualifying countries to live and work in the U.S. on a restricted visa. She said gangs killed her son, the youngest of her four children.

Orellana had been picked on from a young age after losing one eye and much of his hearing from being struck by a tree during Hurricane Mitch, which devastated much of Honduras in 1998, Garcia said. She sent money home, working as a home health aide in New Jersey, to support Orellana and his three siblings, and to buy him a glass eye.

As he got older, his mother said, Orellana told her in frequent phone calls that he was being pursued and threatened by gangs that controlled their San Pedro Sula neighborhood, trying to recruit young people. The threats got so bad, she said, her son fled, against her advice. He was alone at the age of 17 when he crossed illegally into the U.S. to join her in New Jersey.

In a court hearing in July 2009, the judge asked Orellana why, if he had been attacked several times by notorious Central American gangs, he had never gone to the police to file a report.

"Like I mentioned, we would call the police but the police were afraid to come where we lived," Orellana replied.

After Leeds' decision was upheld on appeal, the young man was deported to Honduras in March 2010. He disappeared on July 23, 2011, after telling his grandmother he was running to the store, his mother said. His body was discovered three days later in a nearby wooded area, according to a story in the Honduran newspaper La Tribuna.

"I say as a mother, as a Christian woman, my son was not involved with gangs; he never carried so much as a nail clipper," Garcia said, crying as she clutched a photograph of him. "If they had not deported my boy, he would not be dead."

___

Follow Samantha Henry at http://www.twitter.com/SamanthaHenry

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Source: http://www.msnbc.msn.com/id/46092033/ns/us_news/

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Tuesday, January 24, 2012

Groups: Police fire on Tibetans, at least 1 dead (AP)

BEIJING ? Overseas Tibetan activist groups said security forces fired on Tibetan protesters in southwest China on Monday, killing at least one and injuring others.

Up to several thousand Tibetans in Ganzi prefecture of Sichuan province marched Monday to government offices where security forces opened fire, the Free Tibet group said in an email.

The London-based group said a 49-year-old Tibetan man named Yonten was shot dead and up to 30 others have been shot and wounded in Draggo county.

The claims about Monday's protest could not be independently verified.

A woman who answered the phone at the duty office of the Ganzi public security bureau said she was "not clear" about the situation. "What you should not know, you should not be inquiring about," she said before hanging up.

The unrest comes at a time when tensions are especially high following the self-immolations of at least 16 Buddhist monks, nuns and other Tibetans. Most have chanted for Tibetan freedom and the return of their spiritual leader, the Dalai Lama, who fled to India amid an abortive uprising against Chinese rule in 1959.

Ganzi is a rugged, deeply Buddhist region filled with monasteries and nunneries and has been at the center of dissent for years. It is also among the traditionally Tibetan areas of Sichuan province and other parts of western China that have been closed to outsiders for months amid a massive security presence.

Many Tibetans resent Beijing's heavy-handed rule and large-scale migration of China's ethnic Han majority to the Himalayan region. While China claims Tibet has been under its rule for centuries, many Tibetans say the region was functionally independent for most of that time.

Another group, the International Campaign for Tibet, said three Tibetans were killed in Draggo on Monday and nine injured when police fired into the crowd.

Kate Saunders, the London-based group's spokeswoman, wrote in an email that other Tibetans were beaten by police and injured. It says leaflets had been distributed saying Tibetans should not celebrate the New Year because of the self-immolations and the overall situation in Tibet. The Tibetan New Year falls on Feb. 22 this year.

China is sensitive to protests by Tibetans because they threaten its control over its western region and may inspire protests elsewhere by Chinese with possible grievances.

Source: http://us.rd.yahoo.com/dailynews/rss/asia/*http%3A//news.yahoo.com/s/ap/20120123/ap_on_re_as/as_china_tibet

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RolePlayGateway?

Vampires have always lived among us, masters of deception and mystery, forced to live hidden lives under the reign of humans, a race much weaker, but one of great numbers. Unable to grab hold of the reigns of mainstream life that these humans live, Vampires fall behind with what is new, their sheltered lives depend on what they knew before and with humans constantly changing their lifestyles and shifting the world around them, these Vampires tend to avoid the corrupted life their mortal companions live. Instead, these much older creatures stick to the glamour they've experienced, the gowns and balls of the old life-- sure, they are forced to blend in to the human society when needed, they prefer to stay put within their nest, enjoying a life that once was, but is no longer outside these stone walls.


We follow a nest of Vampires living within a large mansion just outside Boston. Their lives have always been dreary with activities that are restricted indoors, a family truly, but with no blood connection save for the cursed blood that runs through their veins. It isn't until one of the nest's own, Nest Leader's son, bring in an outsider, a freshly sired Vampire, that the house is thrown into turmoil with the daring and feisty new face.

Mother of their nest, Lucretia, has a hard time welcoming this new Vampire, one that still smells of the human that the girl once was. Forced to recognize one of her own, Lucretia may learn a thing or two, and perhaps find her humanity once again. And so begins the love story of Lucretia's son and this fresh immortal, bringing everyone on for a ride.

Code: Select all
[font=sylfaen][justify][right][img]realistic[/img][/right][b]Name:[/b]
[b]Age:[/b] True and apparent.
[b]Sum It All Up:[/b] Their entire life. Have fun writting! Don't forget the personality in this as well.[/justify][/font]

Source: http://feeds.feedburner.com/RolePlayGateway

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Monday, January 23, 2012

Florida next stop in now-scrambled Republican race (AP)

TAMPA, Fla. ? A suddenly scrambled Republican presidential contest shifts to Florida after Newt Gingrich stopped Mitt Romney's sprint to the GOP nomination with a convincing victory in South Carolina.

The air of inevitability that surrounded Romney's candidacy is gone, at least for now. His rivals, led by Gingrich, have until Florida's Jan. 31 contest to prove South Carolina was no fluke.

Larger, more diverse and more expensive, Florida brings new challenges to Gingrich, who again must overcome financial and organizational disadvantages as he did in South Carolina, whose primary he won Saturday.

"We don't have the kind of money at least one of the candidates has. But we do have ideas. And we do have people," Gingrich, the former House speaker, told cheering supporters after his victory. "And we proved here in South Carolina that people power with the right ideas beats big money. And with your help, we're going to prove it again in Florida."

Romney struck a defiant tone before his own backers gathered at the South Carolina State Fairgrounds, saying: "I will compete in every single state." He wasted no time jabbing at Gingrich, saying: "Our party can't be led to victory by someone who also has never run a business and never led a state."

Former Pennsylvania Sen. Rick Santorum, third in South Carolina, pledged to compete in Florida and beyond. His presence in the race ensures at least some division among Florida's tea party activists and evangelicals, a division that could ultimately help Romney help erase any questions about his candidacy.

Texas Rep. Ron Paul likely will not be a factor in Florida. He already had said he was bypassing the state in favor of smaller subsequent contests.

As the first Southern primary, South Carolina has been a proving ground for Republican presidential hopefuls in recent years. Since Ronald Reagan in 1980, every Republican contender who won the primary has gone on to capture the party's nomination.

Returns from 95 percent of the state's precincts showed Gingrich with 41 percent of the vote to 27 percent for Romney. Santorum was winning 17 percent, Paul 13 percent.

But political momentum was the real prize with the race to pick an opponent to President Barack Obama still in its early stages.

Already, Romney and a group that supports him were on the air in Florida with a significant television ad campaign, more than $7 million combined to date.

Gingrich readily conceded that he trails in money, and even before appearing for his victory speech he tweeted supporters thanking them and appealing for a flood of donations for the Jan 31 primary. "Help me deliver the knockout punch in Florida. Join our Moneybomb and donate now," said his Internet message.

Aides to Romney, the former Massachusetts governor, had once dared hope that Florida would seal his nomination ? if South Carolina didn't first. But that strategy appeared to vanish along with the once-formidable lead he held in pre-primary polls.

Romney swept into South Carolina as the favorite after being pronounced the winner of the lead-off Iowa caucuses, then cruising to victory in New Hampshire's first-in-the-nation primary.

But in the sometimes-surreal week that followed, he was stripped of his Iowa triumph ? GOP officials there now say Santorum narrowly won ? while former Utah Gov. Jon Huntsman dropped out and endorsed Romney and Texas Gov. Rick Perry quit and backed Gingrich.

Romney responded awkwardly to questions about releasing his income tax returns, and about his investments in the Cayman Islands. Gingrich, the former speaker of the House, benefited from two well-received debate performances while grappling with allegations by an ex-wife that he had once asked her for an open marriage so he could keep his mistress.

By primary eve, Romney was speculating openly about a lengthy battle for the nomination rather than the quick knockout that had seemed within his grasp only days earlier.

Source: http://us.rd.yahoo.com/dailynews/rss/gop/*http%3A//news.yahoo.com/s/ap/20120122/ap_on_el_pr/us_gop_campaign

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Sunday, January 22, 2012

Kodak gets 2013 deadline to reorganize

Colorful vintage Kodak film canisters are displayed in Newtown, Pa., Friday, Jan. 20, 2012. Eastman Kodak Co. has obtained a bankruptcy judge's approval to borrow an initial $650 million from Citigroup Inc. to keep operations running while it peddles a trove of digital-imaging patents. (AP Photo/Mel Evans)

Colorful vintage Kodak film canisters are displayed in Newtown, Pa., Friday, Jan. 20, 2012. Eastman Kodak Co. has obtained a bankruptcy judge's approval to borrow an initial $650 million from Citigroup Inc. to keep operations running while it peddles a trove of digital-imaging patents. (AP Photo/Mel Evans)

ROCHESTER, N.Y. (AP) ? Eastman Kodak Co. has a little over a year to reshape its money-losing businesses and deliver a get-out-of-bankruptcy plan.

Girded by a $950 million financing deal with Citigroup Inc., the photography pioneer aims to keep operating normally during bankruptcy while it peddles a trove of digital-imaging patents.

After years of mammoth cost-cutting and turnaround efforts, Kodak ran short of cash and sought protection from its creditors Thursday. It is required under its bankruptcy financing terms to produce a reorganization plan by Feb. 15, 2013.

U.S. Bankruptcy Judge Allan Gropper in New York gave Kodak permission to borrow an initial $650 million from Citigroup.

He also set a June 30 deadline for Kodak to seek his approval of bidding procedures for the sale of 1,100 patents that analysts estimate could fetch at least $2 billion. No buyers have emerged since Kodak started shopping them around in July.

Through negotiations and lawsuits, Kodak has already collected $1.9 billion in patent licensing fees and royalties since 2008. Last week, it intensified efforts to defend its intellectual property by filing patent-infringement lawsuits against Apple Inc., HTC Corp., Samsung Electronics and Fujifilm Corp.

Kodak is also pursuing another high-stakes dispute before the U.S. International Trade Commission in Washington, D.C., against Apple and BlackBerry maker Research in Motion Ltd. over image-preview technology it patented in 2002.

Kodak has said it hopes to garner $1 billion from the two-year-old claim. But the commission, a U.S. arbiter for trade disputes, recently put off its decision until September.

Founded by George Eastman in 1880, Kodak turned photography into a mass commodity at the dawn of the 20th century and was known all over the world for its Brownie and Instamatic cameras and its yellow-and-red film boxes. It was brought down first by Japanese competition and then an inability to keep pace with the shift from film to digital technology.

"They're a company that knows more about imaging than anyone else in the world," said Robert Burley, a photography professor at Ryerson University in Toronto. "But I think they lost their ability in their corporate structure to turn those innovations into real-world applications and get them on the market fast.

"There were just too many fronts to deal with, too many battles all at the same time."

In its Chapter 11 filing, Kodak said its nearly decade-long overhaul has been undermined since 2008 by a sluggish economy and high restructuring costs. Its payroll has plunged below 19,000 from 70,000 in 2002, and it hasn't had a profitable year since 2007.

"At the same time as we have created our digital business, we have also already effectively exited certain traditional operations, closing 13 manufacturing plants and 130 processing labs, and reducing our workforce by 47,000 since 2003," CEO Antonio Perez said.

"Now we must complete the transformation by further addressing our cost structure and effectively monetizing non-core (intellectual-property) assets," Perez said in a statement.

Kodak's stock edged up to 32 cents in over-the-counter trading Friday afternoon. The bankruptcy filing prompted the New York Stock Exchange to delist the securities.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/495d344a0d10421e9baa8ee77029cfbd/Article_2012-01-20-Kodak%20Bankruptcy/id-fa42ebfb76424f10b02d1fcb8ae8ec17

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South Carolina Primary Election Quotes (ContributorNetwork)

Newt Gingrich won the South Carolina presidential preference primary in dramatic fashion. In the week leading to the election, the supposed front-runner was Mitt Romney. Then Gingrich surged ahead and won more than 40 percent of the vote in the Palmetto State. The New York Times reports Gingrich had 40 percent of the vote and 23 delegates.

Here's are quotes from the four major candidates on the night of the South Carolina primary.

* "We want to run not a Republican campaign, we want to run an American campaign because we are optimistic about the future because America has always been optimistic about the future. If we unleash the American people, we can rebuild the America that we love." -- Newt Gingrich, giving his victory speech in South Carolina. Politico reports his tone was much different than after the Iowa caucus. Gingrich graciously accepted the speeches of the other three candidates.

* "In recent weeks, the choice within our party has also come into stark focus. President Obama has no experience running a business and running a state. Our party can't be led to victory by someone who also has ever led a business and never run a state. Our campaign will be about the businesses I helped start, not the bills I tried to pass. Our president has divided the nation, engaged in class warfare, and attacked the free enterprise system that has made America the envy of the world. We cannot defeat that president with a candidate that has joined in that very assault on free enterprise." -- Mitt Romney in his concession speech, according to CBS News . He was attacking Gingrich's credentials for being president as well as Obama's work at the White House. Romney came in second in South Carolina after finishing first in New Hampshire.

* "Three states, three winners, what a great country. Let me assure you, we will go to Florida, and then to Arizona, and Colorado, and.... It's a wide open race!" -- Rick Santorum on his future plans, according to ABC News . Florida is the next primary election on Jan. 31. Santorum came in third in South Carolina after winning the Iowa caucus on Jan. 3.

* "This is the beginning of a long, hard job. We will continue to do this. There's no doubt about it. In the beginning, I thought it would just be promotion of a cause. Then it dawned on me, when you win elections and you win delegates, that's the way you promote a cause." -- Rep. Ron Paul of Texas on his future plans for the GOP nominating process. Politico reports he finished fourth in South Carolina, the only one of the mainstream candidates who hasn't won a primary contest yet.

Source: http://us.rd.yahoo.com/dailynews/rss/gop/*http%3A//news.yahoo.com/s/ac/20120122/pl_ac/10867539_south_carolina_primary_election_quotes

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