Wednesday, November 30, 2011

Wall Street soars as central banks move to ease crunch (Reuters)

NEW YORK (Reuters) ? Stocks rose more than 3 percent on Wednesday as major central banks acted jointly to add liquidity to the global financial system, boosting appetite for risky assets.

All ten S&P sectors were sharply higher, with the energy and materials groups approaching gains of 5 percent.

The U.S. Federal Reserve, the European Central Bank as well as the central banks of Canada, Britain, Japan and Switzerland agreed to lower the cost of existing dollar swap lines -- or reducing the cost of temporary dollar loans -- to banks by a half percentage point, starting December 5.

The central banks' actions was intended to ensure that starved European banks facing a credit crunch have enough funding as the euro zone's sovereign debt crisis worsens.

Also, China unexpectedly cut bank reserve requirements in hopes of boosting an economy running at its weakest pace since 2009.

Further encouraging investors, the latest economic data suggested the U.S. economy was moving more solidly toward recovery. The U.S. private sector added the most jobs in nearly a year in November, while business activity in the U.S. Midwest grew faster than expected in November surged.

Other data showed pending sales of existing U.S. homes surged in October by the most in nearly a year.

"There's a perfect storm of bullishness. PMI came out better than expected, plus what happened overseas, and ADP was well above consensus," said Donald Selkin, chief market strategist at National Securities in New York, with about $3 billion in assets under management.

"With this turnaround, we're right back in the same range we were a few weeks ago. For this rally to continue it will be incumbent on the data to keep coming out OK. I don't think it'll be up, up and away here, but I believe we won't break the bottom we had in October."

The Dow Jones industrial average (.DJI) soared 420.35 points, or 3.64 percent, at 11,975.98. The Standard & Poor's 500 Index (.SPX) jumped 42.98 points, or 3.60 percent, at 1,238.17. The Nasdaq Composite Index (.IXIC) advanced 89.46 points, or 3.56 percent, at 2,604.97.

Financial stocks rose after the central banks' action. Bank of America Corp (BAC.N) was up 4.9 percent to $5.32, while JPMorgan Chase & Co (JPM.N) added 6.4 percent to $30.39, and Citigroup Inc (C.N) rose 5.1 percent to $26.55.

Still, financial shares could be pressured after Standard & Poor's on Tuesday reduced its credit ratings on 15 big banks, mostly in Europe and the United States as part of a sweeping overhaul of its ratings criteria. JPMorgan Chase, Bank of America, Citigroup, Wells Fargo & Co (WFC.N), Goldman Sachs Group Inc (GS.N), Morgan Stanley (MS.N) each had their rating reduced by one notch each.

(Reporting by Angela Moon; editing by Jeffrey Benkoe)

Source: http://us.rd.yahoo.com/dailynews/rss/stocks/*http%3A//news.yahoo.com/s/nm/20111130/bs_nm/us_markets_stocks

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E. coli bacteria engineered to eat switchgrass and make transportation fuels

E. coli bacteria engineered to eat switchgrass and make transportation fuels

Tuesday, November 29, 2011

A milestone has been reached on the road to developing advanced biofuels that can replace gasoline, diesel and jet fuels with a domestically-produced clean, green, renewable alternative.

Researchers with the U.S. Department of Energy (DOE)'s Joint BioEnergy Institute (JBEI) have engineered the first strains of Escherichia coli bacteria that can digest switchgrass biomass and synthesize its sugars into all three of those transportation fuels. What's more, the microbes are able to do this without any help from enzyme additives.

"This work shows that we can reduce one of the most expensive parts of the biofuel production process, the addition of enzymes to depolymerize cellulose and hemicellulose into fermentable sugars," says Jay Keasling, CEO of JBEI and leader of this research. "This will enable us to reduce fuel production costs by consolidating two steps ? depolymerizing cellulose and hemicellulose into sugars, and fermenting the sugars into fuels ? into a single step or one pot operation."

Keasling, who also holds appointments with the Lawrence Berkeley National Laboratory (Berkeley Lab) and the University of California (UC) Berkley, is the corresponding author of a paper in the Proceedings of the National Academy of Sciences (PNAS) that describes this work. The paper is titled "Synthesis of three advanced biofuels from ionic liquid-pretreated switchgrass using engineered Escherichia coli."

Advanced biofuels made from the lignocellulosic biomass of non-food crops and agricultural waste are widely believed to represent the best source of renewable liquid transportation fuels. Unlike ethanol, which in this country is produced from corn starch, these advanced biofuels can replace gasoline on a gallon-for-gallon basis, and they can be used in today's engines and infrastructures. The biggest roadblock to an advanced biofuels highway is bringing the cost of producing these fuels down so that they are economically competitive.

Unlike the simple sugars in corn grain, the cellulose and hemicellulose in plant biomass are difficult to extract in part because they are embedded in a tough woody material called lignin. Once extracted, these complex sugars must first be converted or hydrolyzed into simple sugars and then synthesized into fuels. At JBEI, a DOE Bioenergy Research Center led by Berkeley Lab, one approach has been to pre-treat the biomass with an ionic liquid (molten salt) to dissolve it, then engineer a single microorganism that can both digest the dissolved biomass and produce hydrocarbons that have the properties of petrochemical fuels.

"Our goal has been to put as much chemistry as we can into microbes," Keasling says. "For advanced biofuels this requires a microbe with pathways for hydrocarbon production and the biomass-degrading capacity to secrete enzymes that efficiently hydrolyze cellulose and hemicellulose. We've now been able to engineer strains of Escherichia coli that can utilize both the cellulose and hemicellulose fractions of switchgrass that's been pre-treated with ionic liquids."

E. coli bacteria normally cannot grow on switchgrass, but JBEI researchers engineered strains of the bacteria to express several enzymes that enable them to digest cellulose and hemicellulose and use one or the other for growth. These cellulolytic and hemicellulolytic strains of E. coli, which can be combined as co-cultures on a sample of switchgrass, were further engineered with three metabolic pathways that enabled the E. coli to produce fuel substitute or precursor molecules suitable for gasoline, diesel and jet engines. While this is not the first demonstration of E. coli producing gasoline and diesel from sugars, it is the first demonstration of E. coli producing all three forms of transportation fuels. Furthermore, it was done using switchgrass, which is among the most highly touted of the potential feedstocks for advanced biofuels.

Gregory Bokinsky, a post-doctoral researcher with JBEI's synthetic biology group and lead author of the PNAS paper, explains that the pre-treatment of the switchgrass with ionic liquids was essential to this demonstration.

"The magic is in the ionic liquid pre-treatment," Bokinsky says. "If properly optimized, I suspect you could use ionic liquid pre-treatment on any plant biomass and make it readily digestible by microbes. For us it was the combination of biomass from the ionic liquid pretreatment with the engineered E. coli that enabled our success."

The JBEI researchers also attribute the success of this work to the "unparalleled genetic and metabolic tractability" of E. coli, which over the years has been engineered to produce a wide range of chemical products. However, the researchers believe that the techniques used in this demonstration should also be readily adapted to other microbes. This would open the door to the production of advanced biofuels from lignocellulosic feedstocks that are ecologically and economically appropriate to grow and harvest anywhere in the world. For the JBEI researchers, however, the next step is to increase the yields of the fuels they can synthesize from switchgrass.

"We already have hydrocarbon fuel production pathways that give far better yields than what we obtained with this demonstration," says Bokinsky. "And these other pathways are very likely to be compatible with the biomass-consumption pathways we've engineered into our E. coli. However, we need to find enzymes that can both digest more of the ionic liquid pre-treated biomass and be secreted by E coli. We also need to work on optimizing the ionic liquid pre-treatment steps to yield biomass that is even easier for the microbes to digest."

###

DOE/Lawrence Berkeley National Laboratory: http://www.lbl.gov

Thanks to DOE/Lawrence Berkeley National Laboratory for this article.

This press release was posted to serve as a topic for discussion. Please comment below. We try our best to only post press releases that are associated with peer reviewed scientific literature. Critical discussions of the research are appreciated. If you need help finding a link to the original article, please contact us on twitter or via e-mail.

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Source: http://www.labspaces.net/115553/E__coli_bacteria_engineered_to_eat_switchgrass_and_make_transportation_fuels

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Tuesday, November 29, 2011

It?s Still A Feature Phone World: Global Smartphone Penetration At 27%

global-smartphone-penetrationWith all the talk of iPhone vs. Android these days, it's easy to forget how the majority of the world's mobile users still make calls and access data: via feature phones. A recently released report?from mobile strategy firm VisionMobile takes a look at today's mobile marketplace finding that, despite the sharp rise in smartphone shipments over 2010 and 2011, global smartphone penetration (by OS) is at just 27%.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/S2rBE_-TYN4/

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Monday, November 28, 2011

Richardson powers No. 2 Bama past Auburn, 42-14

Alabama quarterback AJ McCarron (10) reacts after throwing a touchdown against Auburn during the first half of an NCAA college football game in Auburn, Ala., Saturday, Nov. 26, 2011. (AP Photo/Dave Martin)

Alabama quarterback AJ McCarron (10) reacts after throwing a touchdown against Auburn during the first half of an NCAA college football game in Auburn, Ala., Saturday, Nov. 26, 2011. (AP Photo/Dave Martin)

Auburn coach Gene Chizik looks down after Alabama stopped Auburn on fourth down during the second half of Alabama's 42-14 win in an NCAA college football game Saturday, Nov. 26, 2011, in Auburn, Ala. (AP Photo/Butch Dill)

Alabama running back Trent Richardson (3) looks on before an NCAA college football game against Auburn at Jordan-Hare Stadium in Auburn, Ala., Saturday, Nov. 26, 2011. (AP Photo/Butch Dill)

Auburn tight end Philip Lutzenkirchen looks up at the scoreboard as Alabama pulls away to defeat Auburn 42-14 during the second half of an NCAA college football game Saturday, Nov. 26, 2011, in Auburn, Ala. (AP Photo/Butch Dill)

Alabama linebacker Courtney Upshaw (41) sacks Auburn quarterback Kiehl Frazier (10) during the second half of an NCAA college football game Saturday, Nov. 26, 2011, in Auburn, Ala. Alabama won 42-14. (AP Photo/Butch Dill)

(AP) ? Trent Richardson and No. 2 Alabama have convinced Nick Saban that they're worthy of competing for college football's top prize.

They'll have to wait a while before for the final decision is rendered.

Richardson rushed for a career-high 203 yards and AJ McCarron threw three first-half touchdown passes to lift Alabama to a 42-14 victory over rival Auburn on Saturday in what amounted to a statement game.

Let the lobbying begin. Saban said he thinks the Tide is one of the nation's best two teams, Richardson's the top player and 'Bama deserves a second shot at LSU.

"This team lost one game in overtime to a very, very good team who's No. 1 right now," the Tide coach said. "And we lost in overtime. Everybody's got to make their choices and decisions about that.

"But I think we've got a great football team and a great bunch of young men who have done a wonderful job and played some really dominant football on both sides of the ball. I think they deserve an opportunity, the best opportunity that's out there for them."

The Tide (11-1, 7-1 Southeastern Conference) has a week before finding out if its resume is good enough to secure a shot at a second national title in three years. No. 5 Oklahoma State, fourth in the BCS standings, and No. 1 LSU have big games remaining against No. 12 Oklahoma and No. 13 Georgia, respectively.

"That's out of our hands but I think we've proven we should be there without a doubt," said Alabama tight end Brad Smelley, who had six catches for 86 yards and a touchdown.

Richardson ran 27 times and caught a 5-yard touchdown pass in his final chance to impress Heisman voters. He had runs of 35 and 57 yards to set up second-half scores.

"To me, Trent's the best football player in the country," Saban said.

The thousands of 'Bama faithful in the stands seemed to agree.

Fans began chanting first "Heisman" and then "LSU" in the fourth, with a sizable contingent wearing crimson and white remaining in the stands afterward clamoring for a rematch. By then, there wasn't all that much orange and blue left.

The Tide fell to LSU 9-6 in an overtime game that 'Bama fans at least feel didn't settle the matter of which one is better.

Richardson said he'd already gotten a call from LSU star Russell Shepard saying "See you in New Orleans" for the title game.

Even if the national picture remains fuzzy, it's pretty clear which is the best team in the state.

In the end, the win might have given the Tide enough style points to hold onto No. 2 in the BCS rankings whatever happens next week.

"We knew coming in that, hey, if you want to be in the national championship again ? we deserve to be in it ? we had to take care of business," McCarron said. "And that's what we did."

The Tide dominated statistically but didn't put Auburn (7-5, 4-4) away until Dee Milliner's 35-yard interception return early in the fourth quarter. Alabama entered the quarter with a 309-44 advantage in total yards but also gave up touchdowns on a fumble recovery and a kick return.

McCarron completed 18 of 23 passes for 184 yards but only attempted five second-half passes. Richardson handled the rest. He gained 142 yards on 13 carries in the second half against a defense ranked 98th nationally against the run.

"Any time you've got No. 3 in your backfield, a team's going to challenge you," McCarron said.

The result was more than enough to end Auburn's streak of 14 straight wins at Jordan-Hare Stadium.

"I've got a locker room full of guys right now and coaches that are hurting and a lot of fans that are hurting as well," Tigers coach Gene Chizik said. "So this is a tough day.

"We wanted to keep the game close in the fourth quarter and have a chance to win the game. We got to the fourth quarter and felt like we were somewhere in that ballpark, and the fourth quarter got away from us. We kind of self-destructed."

The Tigers' biggest offensive weapons were mostly nonfactors. Tailback Mike Dyer, the SEC's No. 2 rusher, had three carries at the half and finished with 13 for 48 yards.

Clint Moseley completed 11 of 18 passes for a paltry 62 yards and the pick-6. Freshman backup Kiehl Frazier played much of the game but didn't complete either of his two pass attempts.

"It was the best defense we've played against this year," Moseley said. "I feel pretty confident saying that."

The Tigers did threaten an offensive touchdown in the fourth but stalled on downs after getting it to the 5. Then Richardson scampered down the left sideline and sprinted to the other side of the field for the 57-yarder.

Auburn managed to hang around for three quarters. Then Milliner intercepted a badly overthrown pass by Moseley, who has now had three passes returned for TDs in Auburn's three biggest games against LSU, Georgia and Bama.

All those were blowouts but Chizik said his team wasn't having flashbacks.

"It wasn't here we go again," he said. "It was just let's keep fighting and let's keep playing and let's get this thing in the fourth quarter and keep it close enough where we could win it."

The two-point play made it 35-14, and Auburn couldn't come close to a second straight huge Iron Bowl comeback.

Like last season, Alabama led 24-7 at the half. This time the Tigers didn't have Cam Newton pulling the trigger on a comeback en route to a Heisman and a national title.

Auburn struck instantly in the second half. Onterio McCalebb returned the opening kick 83 yards for a touchdown, the Tigers' first score on a kick return in Iron Bowl history.

The Tigers then held Alabama to a field goal and converted a fourth-and-1 near midfield but couldn't sustain the momentum change.

Auburn followed it up with a fumbled pitch for a 10-yard loss, a penalty and a lateral to Frazier, who badly overthrew a receiver deep.

Alabama outgained the Tigers 397-140 and held Auburn to 3 of 15 on third downs.

"Our goal today was to play our best football game," Saban said. "We went out and played the best we could play. I'm satisfied with what our players did from that standpoint."

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/3d281c11a96b4ad082fe88aa0db04305/Article_2011-11-26-FBC-T25-Alabama-Auburn/id-ad95c55ba6ae413eaa106aa1356bc96a

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Tentative deal moves the NBA lockout closer to end

FILE - In this Nov. 10, 2011 file photo, NBA commissioner David Stern speaks during a news conference in New York. The NBA is entering a season Stern calls "nuclear winter." The players have rejected the league's latest proposal and begun disbanding their union in preparation for going to court. (AP Photo/John Minchillo, File)

FILE - In this Nov. 10, 2011 file photo, NBA commissioner David Stern speaks during a news conference in New York. The NBA is entering a season Stern calls "nuclear winter." The players have rejected the league's latest proposal and begun disbanding their union in preparation for going to court. (AP Photo/John Minchillo, File)

The Players Association president Derek Fisher leaves after a news conference early Saturday morning Nov. 26, 2011 in New York regarding the NBA and the Players Association reaching a tentative agreement to end the five-month old lockout and start the league's 2011-12 season on Dec. 25. (AP Photo/Tina Fineberg)

FILE - In this Nov. 14, 2011, file photo, surrounded by NBA basketball players, Billy Hunter, right, executive director of the National Basketball Players Association Billy Hunter, right, speaks to the media as Players Association president Derek Fisher, left, listens during a news conference in New York. NBA owners and players reached a tentative agreement early Saturday, Nov. 26, 2011, to end the 149-day lockout and hope to begin the delayed season with a marquee tripleheader Dec. 25. (AP Photo/Seth Wenig, File)

San Antonio Spurs owner Peter Holt, left, and NBA deputy commissioner Adam Silver converse in front of a midtown office building where NBA labor negotiations are taking place in New York, Friday, Nov. 25, 2011. (AP Photo/ Louis Lanzano)

NBA Deputy Commissioner Adam Silver left, and San Antonio Spurs owner Peter Holt, right, converse in front of a midtown office building where NBA labor negotiations are taking place, Friday, Nov. 25, 2011, in New York. (AP Photo/Louis Lanzano)

(AP) ? Now that there's a handshake deal on a new labor agreement, NBA Commissioner David Stern and union executives must persuade owners and players to approve it, guaranteeing a Christmas Day tripleheader.

After a 149-day lockout, owners and players reached the tentative deal early Saturday. It comes at a loss of hundreds of millions of dollars for both sides, on top of the fans and jobs that were lost during the stalemate. And it leaves the NBA with its second shortened season, with the hope of getting in 66 games instead of a full 82-game schedule.

The lockout isn't quite over, but it appears the NBA's nuclear winter will be avoided.

After a marathon 15-hour negotiating session Friday into Saturday, Stern accepted some congratulations, headed for another short night of sleep, then planned to brief his owners on a deal that could change the way they do business.

Players, looking beat and beaten, face a tougher healing process in approving an agreement that significantly limits their earnings.

First, players must drop a lawsuit against the league, reform their disbanded union and approve the handshake deal that was reached shortly after 3 a.m. Saturday. Players' association executives Derek Fisher and Maurice Evans hardly looked enthused about the agreement as they sat next to executive director Billy Hunter on the same side of a conference table as Stern, Deputy Commissioner Adam Silver and Spurs owner Peter Holt, the chairman of the league's labor relations committee.

But at least they weren't sitting in a courtroom, where they appeared headed less than two weeks earlier.

Just 12 days after talks broke down and Stern declared the NBA could be headed to a "nuclear winter," he sat next to Hunter to announce the 10-year deal, with either side able to opt out after the sixth year.

Owners relented slightly on their previous insistence that players receive no more than 50 percent of basketball-related income after they were guaranteed 57 percent in the old collective bargaining agreement. The target is still a 50-50 split, but with a band from 49 percent to 51 percent that gives the players a better chance of reaching the highest limit than previously proposed.

Owners were warned on a conference call Friday night that a deal did not seem imminent, a person briefed on the details told The Associated Press on condition of anonymity because of the sensitivity of the information.

Then, shortly past 3 a.m., many league officials received an e-mail from Silver saying they had a deal ? news that apparently caught many off guard.

Silver's e-mail, the person said, did not contain any specifics about the terms of the tentative agreement.

Those details were expected to be provided on a late-afternoon conference call of the labor relations committee Saturday. The agenda was expected to include when franchises may begin contacting their players again and when team facilities could re-open in advance of training camps.

Stern said he expects the labor committee to endorse the deal and recommend it to the full board.

The players' side has revealed little of its feelings about the deal, noting the pending antitrust litigation in its desire for keeping details quiet. But players always preferred to be on the court, rather than in it, and now they finally have the chance.

"I think it was the ability of the parties to decide it was necessary to compromise and to kind of put this thing back together in some kind of way, to put an end to the litigation and everything that that entails," Hunter said.

Players filed an amended antitrust lawsuit in Minnesota on Monday that could have earned the players billions but surely would have come at the cost of at least the entire 2011-12 season.

Both sides said all along the only way to a deal was through negotiating. They got back together Tuesday, setting the way for the pivotal meeting that began Friday.

"I think we saw a willingness of both sides to compromise yet a little more and to reach this agreement," Silver said. "We look forward to opening on Christmas Day and we are excited to bring NBA basketball back and that's most important."

Both sides are expected to OK the pact, which would pave the way for training camps and free agency to open simultaneously Dec. 9.

President Barack Obama gave a thumbs-up when told about the tentative settlement after he finished playing basketball at Fort McNair in Washington on Saturday morning.

Because the union disbanded, a new collective bargaining agreement can only be completed once the union has reformed. Drug testing and other issues still must be negotiated between the players and the league, which also must dismiss its lawsuit regarding the legality of the lockout.

"We're very pleased we've come this far," Stern said. "There's still a lot of work to be done."

When the NBA returns, owners hope to find the type of parity that exists in the NFL, where the small-market Green Bay Packers are the current champions. The NBA has been dominated in recent years by the biggest spenders, with Boston, Los Angeles and Dallas winning the last four titles.

"I think it will largely prevent the high-spending teams from competing in the free-agent market the way they've been able to in the past. It's not the system we sought out to get in terms of a harder cap, but the luxury tax is harsher than it was. We hope it's effective," Silver said.

"We feel ultimately it will give fans in every community hope that their team can compete for championships."

Owners locked out the players July 1, and the sides spent most of the summer and fall battling over the division of revenues and other changes owners wanted in a new collective bargaining agreement. They said they lost hundreds of millions of dollars in each year of the former deal, ratified in 2005, and they wanted a system where the big-market teams wouldn't have the ability to outspend their smaller counterparts.

Players fought against those changes, not wanting to see any teams taken out of the market when they became free agents.

"This was not an easy agreement for anyone. The owners came in having suffered substantial losses and feeling the system wasn't working fairly across all teams," Silver said. "I certainly know the players had strong views about expectations in terms of what they should be getting from the system. It required a lot of compromise from both parties' part."

Stern denied the antitrust litigation was a factor in accelerating a deal, but things happened relatively quickly after the players filed.

"For us the litigation is something that just has to be dealt with," Stern said. "It was not the reason for the settlement. The reason for the settlement was we've got fans, we've got players who would like to play and we've got others who are dependent on us. And it's always been our goal to reach a deal that was fair to both sides and get us playing as soon as possible, but that took a little time."

___

Follow Brian Mahoney on Twitter: twitter.com/Briancmahoney

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/347875155d53465d95cec892aeb06419/Article_2011-11-26-NBA%20Labor/id-dd9250cf647446a58886af1e02e2831a

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Divorcing Couples Discover They Can Also Fight Over Their Pets

Divorcing Couples Discover They Can Also Fight Over Their Pets
You usually hear about couples waging epic battles for custody of their children when they split up, but more and more people are learning that they can also fight over custody of their pets. And why not since pets are often considered members of the family. Mo Rocca delved into the different arrangements people make with their former partners, and how it affects the pets. While he has fun with the topic, it can be a serious issue. Some couples, according to one divorce lawyer, have killed pets rather than share them. (Evil!)

We must be becoming ever more attached to our pets, because legal battles over pets have gone up 23% in the last ten years, and it's not just cats and dogs people fight about?it can be birds, horses, and probably lizards and snakes too. But while divorce may be hard on the people, it's not always bad for the animal. As Rocca points out in the case of Baldwin the dog, sometimes splitting up and sharing the pet means the pet gets "the best of both worlds"?happy owners and plenty of time with both of them.

Pet Custody Battles Heat Up [CBS]

Source: http://jezebel.com/5862824/divorcing-couples-discover-they-can-also-fight-over-their-pets

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Video: Holiday shopping breaks records



LESTER HOLT, anchor: Just a few more hours remain for bargain hunters in this opening weekend for holiday shopping. And so far it's been a record breaker. For some insight on that and more, let's bring in CNBC 's chief international correspondent Michelle Caruso-Cabrera . Michelle , will this news power the markets out of their recent slump?

MICHELLE CARUSO-CABRERA reporting: It's certainly going to be very well received by the markets, Lester . It confirms a lot of other recent economic data that we've seen which shows the economy is getting better. It's not great, but getting better and puts to rest the fears that we had in late August that maybe we were going to see a second recession. However, at the same time we have to be very worried about Europe. Last week, economically speaking, was a dangerous week for Europe. We're starting to see things in their financial system that were similar to what we saw in the fall of 2008 that should have served as warning signals for us. So the coming week is going to be critical for Europe to see if they can come up with any kind of policy decisions. So that may cause the markets to suffer, and the consumer spending data we've seen from the weekend may not be good enough to lift it.

Source: http://video.msnbc.msn.com/nightly-news/45454706/

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New Zealand set for asset sales after crushing election win (Reuters)

WELLINGTON (Reuters) ? New Zealand's re-elected center-right government claimed a mandate on Sunday to push on with up to $5 billion worth of asset sales and welfare reforms and said it would quickly get down to forming a new administration.

The National Party, led by former foreign exchange dealer John Key, scored 48 percent of the vote, increased its number of seats to 60 from 58 and gained the support of two small parties to guarantee a majority in the 121-seat parliament.

"It's a pretty strong endorsement of where the Government sits, and we're confident we'll be able to build the relationships needed to go ahead with the programme," National's campaign manager Steven Joyce told TVNZ.

National campaigned on promises to consolidate policies of the past three years and work toward economic growth by cutting debt, curbing spending, selling state assets and returning to a budget surplus by 2014/15.

Ray Miller of Auckland University said National had effectively neutralised its biggest weakness -- the unpopular asset sales, slated to raise NZ$5 billion to NZ$7 billion.

"They got the policy out early, they sold it in positive terms and in the end, while it was still a negative, it was one policy among many and not an overriding one," he said.

National plans to sell minority stakes in state-owned power energy companies and further reduce the stake in Air New Zealand. Key has promised local small investors will have preference in share sales, with a 10 percent cap likely on how much any single investor can hold.

WELFARE REFORM, SLOW CARBON TRADE

It also plans to reform welfare by getting people off benefits and back to work, and will slow down the expansion of its carbon trading system to lessen the cost on businesses and households.

Key's strong personal rating, his easy going, affable, unifying style was also a factor behind National's showing, despite continuing worries over the economy.

"I've got a PHD in geology and I still can't get a full-time job," said Sami Alshidi, 52, who has been working as a taxi driver and voted National because he felt it would steer the economy better.

Financial markets had already priced in no change of government and a broad continuation of policies.

"The National Party has a clear mandate to proceed with asset sales to lower fiscal deficits and government debt," said TD Securities head of research Annette Beacher.

"But this election was not on the global radar screens...(and) will likely be completely ignored."

The final tally of seats could yet change when tens of thousands of absentee votes are counted over the next two weeks, although the initial turnout of nearly 74 percent was one of the lowest in more than a century, election officials said.

The main opposition center-left Labour Party slumped to 27 percent, the lowest share of the vote in its 95-year history, and lost nine seats. The environmentalist Greens upped their share to more than 10 percent and gained four seats.

The re-emergence of the nationalist New Zealand First Party, led by the maverick veteran Winston Peters, from three years in the political wilderness, is expected to add fireworks but not impede National.

"We will make sure of a huge amount of sunlight on New Zealand politics," Peters said.

(Additional reporting by Ed Davies in Auckland, Mantik Kusjanto.; Editing by)

Source: http://us.rd.yahoo.com/dailynews/rss/world/*http%3A//news.yahoo.com/s/nm/20111127/wl_nm/us_newzealand_election

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Concurring Opinions ? The Usefulness of Legal Scholarship

posted by Daniel Solove

A reader of my post about the N.Y. Times critique of legal education writes, in regard to the value of legal scholarship:

I happen to be on the editorial board of a T14 law school?s law review, so I have to cite check and read articles regularly. Of those I?ve read, I can?t think of a single one I thought would be useful to a practicing lawyer. The problem is, in my experience, most seem to advocate a fundamental change in philosophy to an area of law that diverges from what precedent would suggest. To me, this seems extremely unhelpful, because A. Lower courts aren?t likely to accept a grand new theory that seems to contradict what SCOTUS is saying, B. As far as I can tell SCOTUS seems not to usually change its theory either, and C. I don?t think most policymakers tend to read law review articles.

This leads me to be inclined to believe that most law review articles are useless. Are you saying my sample is unrepresentative of what?s out there? Or do I simply have a narrower definition of usefulness? Could you perhaps suggest some articles from the past year that in your mind represented useful legal scholarship?

This commentator assumes that usefulness is the equivalent of being accepted by the courts.? I quarrel with this view for many reasons:

1. An article can have an influence on cases, even if difficult to demonstrate.? Many courts don?t cite law review articles even when they rely on them.? Judges are notorious for not being particularly charitable with citations.? They often copy verbatim parts of briefs, for example.? If a law professor relies on a scholarly work even in a minor way, the professor will typically cite to the work.? Not so for courts.

2. Most articles will not change the law.? Changing the law is quite difficult, and if most law review articles changed the law, the law would be ridiculously more dynamic than it currently is.

3. No matter what discipline or area, most of the things produced are not going to be great.? Most inventions are flops.? Most books, songs, movies, TV shows, art works, architecture, or anything produced are quite forgettable and will likely be forgotten.? Great lasting works only come around infrequently, no matter what the field.

4. Most people are forgettable too.? In the law, most practitioners and judges have been forgotten.? Only a few great ones are remembered.? Of the judges who are most well-known, it is interesting that many were more theoretical in nature and had a major impact in changing the law ? typically in ways law professors might change the law.? Think of Benjamin Cardozo, who wrote many articles and books and who radically changed the law.? Think of Felix Frankfurter, a former law professor.? Think of Louis Brandeis.? Think of Oliver Wendell Holmes.? These were jurists who were thinkers.? They were readers.? They were literary.? They were writers of scholarship too.? Maybe the forgettable practitioners and judges are the ones who ignore legal scholarship.

5. The commentator?s remarks that I quoted above seems to be only focused on judicial decisions.? Legal change can occur legislatively as well as through administrative rulemaking.? A lot of legal scholarship that critiques the law can have influence in legislatures or with agencies.

6. The commentator writes: ?I don?t think most policymakers tend to read law review articles.?? I doubt that the Congresspeople themselves read law review articles, but staffers might take a look where relevant.? They won?t likely read them cover to cover, but if there?s an article on point that is helpful, I believe they will read it.

7. In my own experience, I?ve found that some of my more theoretical writing has been read frequently by practitioners.? My book Understanding Privacy, for example, is a theoretical account of what ?privacy? means and why it is valuable.? I base my theory on the ideas of Ludwig Wittgenstein and John Dewey, and I cite to a lot of social science literature.? More than some of my more so-called ?practical? work, it is this book where I receive the most positive feedback from practitioners.? In particular, a lot of Chief Privacy Officers in business, government, and education find the book useful.

8. Legal change can be slow.? Samuel Warren and Louis Brandeis?s The Right to Privacy was a very influential law review article, spawning four privacy torts in a majority of states.? They published their article in 1890.? Ten years later, the article would have been viewed as a failure.? No courts had adopted their theory.? No legislatures had adopted their theory.? Finally, in 1902, the N.Y. Court of Appeals rejected Warren and Brandeis?s theory.? At this point, the legal scholarship naysayers would be saying that Warren and Brandeis?s article would have been a total flop.? A dozen years had passed, and a court declined to change its precedent based on the article.? But then the N.Y. legislature stepped in and recognized a privacy tort based on the article.? And slowly, other courts and legislatures followed.? This process was slow.? It took about 50 years to unfold.

?November 26, 2011 at 4:19 pm ? Posted?in:?Jurisprudence, Law and Humanities, Law Practice, Law School (Scholarship), Legal Theory ??Print This Post?Print This Post


Source: http://www.concurringopinions.com/archives/2011/11/the-usefulness-of-legal-scholarship.html

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Watch: President Obama Addresses the Nation (ABC News)

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Sunday, November 27, 2011

Mouse Computer's LuvBook S heals emotional scars, one Hello Kitty at a time

What the world needs now is just one thing, and that thing is a bejeweled Hello Kitty laptop. Fortunately, Japan's Mouse Computer is well aware of this, which is why it's unleashed the LuvBook S, pictured above. Designed in collaboration with Sanrio and Swarovski, this masterpiece is powered by a 2.2 GHz Intel Core i3-2330M processor and boasts an 11.6-inch, 1,366 x 768 display. It also packs a 500GB HDD and a 1.3 megapixel camera, but all that really matters is the swaggy centerpiece -- a heart-ensconced Hello Kitty mug made out of about 1,100 Swarovski stones and untold buckets of cuddles. The LuvBook is available now for $900, at the source link below.

Mouse Computer's LuvBook S heals emotional scars, one Hello Kitty at a time originally appeared on Engadget on Sat, 26 Nov 2011 03:50:00 EDT. Please see our terms for use of feeds.

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Source: http://www.engadget.com/2011/11/26/mouse-computers-luvbook-s-heals-emotional-scars-one-hello-kitt/

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Arab League approves Syria sanctions

In this photo taken during a government-organized tour for the media, Syrian army officers carry the coffin of one of the 17 army members, including six elite pilots and four technical officers who the military said were killed in an ambush on Thursday during their funeral procession, in Homs province, Syria, on Saturday Nov. 26, 2011. The military blamed terrorists for the ambush and has vowed to "cut every evil hand" that targets the country's security. Syria is facing mounting international pressure to end a bloody crackdown on an uprising against the rule of President Bashar Assad that the U.N. says has killed more than 3,500 people. The Arab League was meeting Saturday to consider the possibility of sweeping economic sanctions. (AP Photo/Bassem Tellawi)

In this photo taken during a government-organized tour for the media, Syrian army officers carry the coffin of one of the 17 army members, including six elite pilots and four technical officers who the military said were killed in an ambush on Thursday during their funeral procession, in Homs province, Syria, on Saturday Nov. 26, 2011. The military blamed terrorists for the ambush and has vowed to "cut every evil hand" that targets the country's security. Syria is facing mounting international pressure to end a bloody crackdown on an uprising against the rule of President Bashar Assad that the U.N. says has killed more than 3,500 people. The Arab League was meeting Saturday to consider the possibility of sweeping economic sanctions. (AP Photo/Bassem Tellawi)

In this photo taken during a government-organized tour for the media, relatives of William Al-Saleh one of the six elite pilots who the military said were killed in an ambush on Thursday, hold his portrait as they mourn during his funeral procession, in Homs province, Syria, on Saturday Nov. 26, 2011. The military blamed terrorists for the ambush and has vowed to "cut every evil hand" that targets the country's security. (AP Photo/Bassem Tellawi)

In this photo taken during a government-organised tour for the media, an injured Syrian army soldier lies on his bed at a hospital, in Homs province, Syria, on Saturday Nov. 26, 2011. The military blamed terrorists for an ambush which killed 17 army members, including six elite pilots and four technical officers on Thursday and has vowed to "cut every evil hand" that targets the country's security. Syria is facing mounting international pressure to end a bloody crackdown on an uprising against the rule of President Bashar Assad that the U.N. says has killed more than 3,500 people. The Arab League was meeting Saturday to consider the possibility of sweeping economic sanctions. (AP Photo/Bassem Tellawi)

ADDS NAME OF CHILD AND UPDATES THAT THE WOMAN HAS BEEN FOUND - In this undated family photo made available Saturday, Nov. 26, 2011, Mona al-Gharib, left, poses for a photo with her 18-month-old son, Forat in Alexandria, Egypt. An Egypt-based Syrian dissident says his 25-year-old pregnant wife has been found in Cairo more than 24 hours after she was abducted. Thaer al-Nashef says his wife, Mona al-Gharib, was kidnapped Friday afternoon as she walked to her parents house in the Egyptian capital. Al-Nashef said she was found unconscious, but alive, by an elderly woman on a Cairo street Saturday afternoon. He had no immediate details on her condition.(AP Photo/Courtesy Thaer al-Nashef)

(AP) ? The Arab League overwhelmingly approved sanctions Sunday against Syria to pressure Damascus to end its deadly eight-month crackdown on dissent, an unprecedented move by the League against an Arab state.

Before the vote, Damascus slammed the vote as a betrayal of Arab solidarity. Besides punishing an already ailing economy, the sanctions are a huge blow for a Syrian regime that considers itself a powerhouse of Arab nationalism.

At a news conference in Cairo, Qatari Foreign Minister Hamad bin Jassim said 19 of the League's 22 member nations approved the sanctions, which include cutting off transactions with the Syrian central bank and halting Arab government funding for projects in Syria. Iraq and Lebanon abstained.

"We aim to avoid any suffering for the Syrian people," bin Jassim said.

The sanctions are the latest in a growing wave of international pressure pushing Syria to end its violent suppression of protests against President Bashar Assad, which the U.N. says has killed more than 3,500 people since March.

Arab League Secretary General Nabil Elaraby said the bloc will reconsider the sanctions if Syria carries out an Arab-brokered peace plan that includes sending observers to the country and pulling tanks from the streets.

"We call on Syria to quickly approve the Arab initiative," he said.

The state-owned Al-Thawra newspaper ran a front-page headline Sunday saying the Arab League is calling for "economic and commercial sanctions targeting the Syrian people." It said the measure is "unprecedented and contradicts the rules of Arab cooperation."

Since the revolt began, the regime has blamed armed gangs acting out a foreign conspiracy for the bloodshed.

It is not clear whether Arab sanctions will succeed in pressuring the Syrian regime into ending the violence that has killed dozens of Syrians, week after week. Many fear the violence is pushing the country toward civil war.

Until recently, most of the bloodshed was caused by security forces firing on mainly peaceful protests. Lately, there have been growing reports of army defectors and armed civilians fighting Assad's forces ? a development that some say plays into the regime's hands by giving government troops a pretext to crack down with overwhelming force.

On Sunday, activists reported fierce clashes in the flashpoint city of Homs, in central Syria, pitting soldiers against army defectors.

The death toll from violence in Homs and elsewhere across the country was mounting Sunday. The Local Coordinating Committees, a coalition of Syrian activist groups, put the toll at 26, but the figure was impossible to confirm.

Syria has banned most foreign journalists and prevented independent reporting inside the country.

Many of the attacks against Syrian security forces are believed to be carried out by a group of army defectors known as the Free Syrian Army.

The Arab League's recommendations for sanctions specified that the Arab bloc will assist Syria with emergency aid through the help of the International Red Cross and Red Crescent, working with local civilian groups to deliver goods.

There have been widespread concerns that the unrest in Syria could spill outside its borders, sending unsettling ripples across the region.

Syria is a geographical and political keystone in the heart of the Middle East, bordering five countries with whom it shares religious and ethnic minorities and, in Israel's case, a fragile truce. Its web of allegiances extends to Lebanon's powerful Hezbollah movement and Iran's Shiite theocracy.

Also Sunday, Jordanian Foreign Minister Nasser Judeh acknowledged that 100 Syrian military and police deserters have taken refuge in the kingdom during the uprising. It was the first official public confirmation that Jordan hosts Syrian defectors.

In September, officials said privately that Jordan had received 60 Syrian army and police deserters, who ranged in rank from corporal to colonel.

Judeh told The Associated Press that the Syrian soldiers and policemen, whom he claimed were conscripts rather than officers, had arrived in batches over the last eight months.

Many Syrians fleeing Assad's crackdown have also sought refuge in neighboring Turkey.

The Gulf nations of Qatar and Bahrain on Sunday warned their citizens to avoid travel to Syria and called on those already there to leave immediately. The foreign affairs ministries of both countries cited concerns about the security situation in issuing the travel alerts. They did not mention the planned Arab League vote.

The calls come two days after the United Arab Emirates issued a similar warning to its citizens.

The embassies of the UAE, Qatar and Saudi Arabia were targeted by pro-Assad regime demonstrators in Damascus earlier this month.

___

Associated Press writers Maamoun Youssef in Cairo and Adam Schreck in Dubai, United Arab Emirates, contributed to this report.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/cae69a7523db45408eeb2b3a98c0c9c5/Article_2011-11-27-Syria/id-136c46067b38475f99da0aa6dfef0100

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Martin says its jetpack is 'practical,' offers crappy computer animation as evidence

Jetpack
Ever wonder what a jetpack is good for, besides fulfilling dreams and fighting Nazis? Well, Martin wants you to know there are, in fact, practical applications for its $86,000 personal propulsion system. According to the aviation company everyone from emergency responders to search and rescue teams to military personnel could find a place for the dual-engine craft in their arsenal of tools. Sure, we could see how their ability to get in an out where the size of a helicopter or plane might be prohibitive would prove handy, but their high cost and limited carrying capacity make them a tough sell. That doesn't mean we don't enjoying seeing the (poorly) rendered vision of our future filled with jetpacks in the video after the break. Come to think of it, we could see this coming in handy for our CES coverage... excuse us, we need to make some phone calls.

Continue reading Martin says its jetpack is 'practical,' offers crappy computer animation as evidence

Martin says its jetpack is 'practical,' offers crappy computer animation as evidence originally appeared on Engadget on Sun, 27 Nov 2011 01:50:00 EDT. Please see our terms for use of feeds.

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Source: http://www.engadget.com/2011/11/27/martin-says-its-jetpack-is-practical-offers-crappy-computer-a/

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Small Business Saturday: Twitter Reacts To Second Annual 'Shop ...

Small Business Saturday: Twitter Reacts To Second Annual 'Shop Small' Day '; var coords = [-5, -78]; if( HPConfig.current_vertical_name == 'homepage' ) { coords = [-5, -70]; } else if( HPConfig.current_vertical_name == 'mapquest' ) { coords = [-5, -68]; } FloatingPrompt.embed(this, html, undefined, 'top', {fp_intersects:1, timeout_remove:2000,ignore_arrow: true, width:236, add_xy:coords, class_name: 'clear-overlay'}); }); ' }); }); }(jQuery)); Posted: 11/26/11 01:06 PM ET

Black Friday may be America's biggest shopping day of the year, but Small Business Saturday is also gaining momentum among the masses.

In its second year running, the Small Business Saturday's Official Facebook page attracted over 2.6 million likes, up from 1.2 million in 2010.

Nestled between Black Friday and Cyber Monday, Small Business Saturday is the day on which American Express offers its card members a $25 credit for any $25 or more spent at qualifying small businesses nationwide.

The shop small movement received an extra boost thanks to Occupy Wall Street's outrage over Black Friday, calling for consumers to boycott chain stores in favor of shopping at small business owned stores. In addition to forming Occupy Black Friday and Don't Occupy Walmart, several OWS chapters also organized protesters across the country the day after Thanksgiving.

In honor of Small Business Saturday, click through the slideshow to see the latest tweets in support of local business.

MORE SLIDESHOWS NEXT?> ??|?? <?PREV

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Black Friday may be America's biggest shopping day of the year, but Small Business Saturday is also gaining momentum among the masses. In its second year running, the Small Business Saturday's Off...

Black Friday may be America's biggest shopping day of the year, but Small Business Saturday is also gaining momentum among the masses. In its second year running, the Small Business Saturday's Off...

Source: http://www.huffingtonpost.com/2011/11/26/small-business-saturday_n_1114060.html

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Free Toys. Because Everybody likes free, right? (Balloon Juice)

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Islamist party taking most seats in Morocco poll (AP)

RABAT, Morocco ? An Islamist Party is on track to become the largest party in Morocco's new parliament with a dominant showing after two-thirds of the seats were announced by the Interior Ministry on Saturday.

The Justice and Development Party has taken 80 seats, almost twice as many as the next most powerful party, with 282 seats announced out of the 395 up for grabs in the nationwide vote a day earlier.

Barring a massive upset, the PJD ? known by its French initials ? will be the largest party in the new parliament and charged with forming a new government ? making another Islamist victory in an election brought about by the Arab Spring.

Last month, Tunisia's Ennahda Party took 40 percent of the seats in elections in the country that started a wave of pro-democracy uprisings across the Middle East after its people overthrew their long-serving dictator.

Egypt is set to hold elections of its own on Monday that are also expected to be dominated by Islamist parties, lending increasing weight to the view that religious movements have been some of the biggest benefactors of the Arab Spring.

Like the rest of the region, Morocco was swept by pro-democracy protests decrying widespread corruption, which the king attempted to defuse over the summer by ordering the constitution modified to grant more powers to the Parliament and prime minister and then holding elections a year earlier.

Activists, however, have called the moves insincere and clamored for a boycott.

The Islamists' biggest rivals in Morocco's elections is a coalition of eight liberal, pro-government parties led by Finance Minister Salaheddine Mezouar, which has amassed more than 110 seats, but under the new constitution the party with the most seats gets first crack at forming a new government.

The Islamists must now find coalition partners willing to work with them.

In recent years Morocco's Islamists have cultivated an image as honest outsiders battling corruption and seeking to improve services, rather than focusing on moral issues such as whether women wear the Islamic headscarf.

Morocco, a close U.S. ally and popular European tourist destination suffers from high unemployment and widespread poverty.

With dozens of parties running and a complex system of proportional representation, Morocco's parliaments are typically divided up between many parties each with no more than a few dozen seats, requiring complex coalitions that are then dominated by the king.

The government announced a 45-percent turnout in Friday's contest, slightly more than legislative elections in 2007, but still less than local elections in 2009 and the summer's constitutional referendum.

There are almost 13.5 million registered voters in this North African kingdom of 32 million, though it is estimated that there are 22 million people of voting age.

(This version corrects fourth paragraph to Tunisia, not Morocco for Ennahda.)

Source: http://us.rd.yahoo.com/dailynews/rss/world/*http%3A//news.yahoo.com/s/ap/20111126/ap_on_re_mi_ea/ml_morocco_elections

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Saturday, November 26, 2011

How to Make Your Startup Go Viral The Pinterest Way

pinterest.com_uv_1yOn Thanksgiving, Pinterest?s co-founder Ben Silbermann sent an email to his entire user base saying thanks. It was fitting, as Pinterest was born two years ago on Thanksgiving day 2009. ?Ben had been working on a website with a few friends, and his girlfriend came up with the name while they were watching TV. Pinterest officially launched to the world 4 months later. Some startups go crazy with hype and users right after launch. And some don?t. I don?t know the founders, but I thought I?d take apart Pinterest?s story to discuss growth and virality in consumer web startups. Pinterest was not an overnight success. On the contrary, its growth was surprisingly modest after Turkey Day 2009. Take a look at Pinterest?s one-year traffic on Compete from Oct 2010 to Oct 2011, which is the picture in this post, and shows Pinterest rising from 40,000 to 3.2 million monthly unique visitors. I took both ends of this chart and estimated monthly compounded growth over Pinterest?s lifetime, then interpolated the curve using constant growth and put the results in this Google Spreadsheet.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/RsUM1SigUVw/

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