Senin, 31 Oktober 2011

EAST AFRICA RADIO USA - Oct 29,2011

Dujis MP Adan Duale wants the President and Prime Minister to hold an urgent Cabinet meeting to discuss the distribution of aflatoxin contaminated Unimix to at least 60,000 school children facing starvation.

Duale said on Friday that the Parliamentary Health Committee should also institute an investigation into the matter.?These are issues that the two principals must address; these are issues that the Minister for Public Health must come out very clearly about,? he stated.?We will not allow 60,000 children of this country to suffer from cancer as a result of food which was given to them when they were starving,? he said.Aflatoxin is a lethal mycotoxin caused by fungus which medics say could cause cancer if consumed over a long period of time and in large quantities.Duale questioned why the quality check was done while the Unimix had already been distributed to schools in drought stricken areas of North Eastern, Eastern and Coast region.?It is Kenya Bureau of Standards (KEBS) that is mandated to make sure they take care of the safety of the Kenyan people ? what they eat, what they use. If KEBS takes over one month to detect this how sure are we that these millers pass through them?? he posed.More info Click here?

Source: http://www.blogtalkradio.com/denzel-musumba/2011/10/29/east-africa-radio-usa

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'Gossip Girl,' other CW shows coming to Hulu (AP)

LOS ANGELES ? Current season shows on The CW including "The Vampire Diaries" and "Gossip Girl" are coming to Hulu.

The five-year deal announced Friday means that before the end of the year, the online video service will feature shows from five of the largest six broadcasters ? ABC, NBC, Fox, The CW, and Univision. The only holdout left is CBS.

Under the new deal, subscribers who pay $8 a month for Hulu Plus will get the five most recent episodes from The CW's lineup the day after they are broadcast on television. The same episodes will then be available for free on CWTV.com three days after broadcast. Eight days after broadcast, the episodes will be available on the free version of Hulu for computers.

All the versions will come with ads.

Earlier this month, The CW also agreed to make all its previous seasons' shows available to subscribers of Netflix Inc.'s streaming plan, which also costs $8 a month.

The CW, co-owned by CBS Corp. and Time Warner Inc.'s Warner Bros., is a network that targets young women aged 18-34, many of whom catch the shows online.

Source: http://us.rd.yahoo.com/dailynews/rss/tv/*http%3A//news.yahoo.com/s/ap/20111028/ap_en_tv/us_hulu_the_cw

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Minggu, 30 Oktober 2011

Forget Washington: America's Pragmatic Caucus is Creating Jobs (Time.com)

Amid the throes of the summer's heated and bitterly partisan debates over the federal debt, President Obama channeled the frustrations of most Americans when he remarked that they voted for divided government, not dysfunctional government. Since then, it appears this dysfunction is likely to continue for the foreseeable future.

But it would be foolhardy to confuse the health of the debate in our nation's capital with that of the country as a whole, or the vitality of our federal government with that of our federal republic.

In fact, we find America ? or, more precisely, our states, cities and metropolitan areas ? awash in leadership and increasingly governed by a Pragmatic Caucus of political, business, university and civic leaders. In sharp contrast to Beltway polarization, these leaders are acting decisively to grow jobs in the near term and retool their metropolitan economies for the long-haul. (See how the jobs bill vote proved congressional dysfunction.)

The rise of a Pragmatic Caucus at a time of federal inaction reflects the genius of American democracy. The U.S. is not just the federal government. It is also a union of states, and perhaps more importantly, a network of cities and metropolitan areas.

States matter constitutionally, sharing responsibility for shaping the economy, safeguarding the environment and caring for our most vulnerable and disadvantaged.

Cities and metros dominate economically as they concentrate and agglomerate the innovative firms, talented workers, risk-taking entrepreneurs and supportive ecosystems of universities, community colleges and business associations that drive modern economies.

Members of the Pragmatic Caucus share common ground even if they have different political or ideological leanings. They are close to the ground, and prize place over party, collaboration over conflict and solution over dogma. They form what Philadelphia Mayor Michael Nutter likes to call the "Get Stuff Done" party. (See why Obama's actions don't always live up to his words.)

Mayors, not surprisingly, are charter members of the Pragmatic Caucus, since so many duties of local office ? from providing basic services to regenerating blighted neighborhoods to preparing for and responding to natural disasters like Hurricane Irene ? require practical rather than political solutions and demand leaders who are hungry for results and impatient with ideological grandstanding.

The current cast of U.S. mayors ? both Republicans and Democrats ? is one of the best in modern memory. But the Pragmatic Caucus extends far beyond elected officials to include enterprising presidents of major universities, major philanthropic leaders and the heads of influential metropolitan business organizations.

Governors, too, are getting the message about metropolitan power. Colorado, New York and Tennessee, for example, have all initiated state economic development strategies that intentionally build upon and align with the distinctive strategies of each state's cities, counties and metropolitan areas. This is not surprising since the Governors of these states are all either former Mayors or individuals with deep experience with urban issues. Others, like Rick Snyder of Michigan, have brought deep business backgrounds and a focus on tangible results and short-term deliverables.

See "The De Facto Religious Test in Presidential Politics."

Source: http://us.rd.yahoo.com/dailynews/rss/us/*http%3A//us.rd.yahoo.com/dailynews/external/time_rss/rss_time_us/httpwwwtimecomtimenationarticle08599209787600htmlxidrssnationyahoo/43407941/SIG=12lrk3faj/*http%3A//www.time.com/time/nation/article/0,8599,2097876,00.html?xid=rss-nation-yahoo

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Rabu, 26 Oktober 2011

50 anti-Wall Street protesters arrested in Atlanta

Police moved into a downtown Atlanta park and arrested around 50 Occupy Wall Street protesters who had been encamped there for about two weeks early Wednesday, while across the country in Oakland, Calif., officers in riot gear stood watch after clashes there with demonstrators overnight.

The scene was calm but tense early Wednesday in Oakland as a crowd of hundreds of protesters dwindled to just a few dozen stalwart demonstrators in the aftermath of skirmishes in front of City Hall that resulted in five volleys of tear gas from police, in blasts that seemed to intensify with each round, over a roughly three-hour stretch of evening scuffles.

The Oakland conflict began much earlier in the day when police dismantled an encampment of Occupy Wall Street protesters that had dominated a plaza across the street from the government building for more than two weeks.

Police fired tear gas and beanbag rounds, clearing out the makeshift city in less than an hour.

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The site was among numerous camps that have sprung up around the country as protesters rally against what they see as corporate greed and a wide range of other economic issues. The protests have attracted a wide range of people, including college students looking for work and the homeless.

Meanwhile, in Atlanta's Woodruff Park, protesters were warned a couple times before police moved in around midnight to vacate the park or risk arrest. Inside the park, the warnings were drowned out by drumbeats and chants of "Our park!"

Organizers had instructed participants to be peaceful if arrests came, and most were. Many gathered in the center of the park, locking arms, and sang "We Shall Overcome," until police led them out, one-by-one to waiting buses. Some were dragged out while others left on foot, handcuffed with plastic ties.

Police included SWAT teams in riot gear, dozens of officers on motorcycles and several on horseback. By about 1:30 a.m. Wednesday the park was mostly cleared of protesters. Organizers had urged protesters to return in the morning, but by 8:30 a.m. it was still largely empty, the Atlanta Journal-Constitution reported on its website.

The Occupy protests over economic inequality have spread from a single camp in New York City to cities across the United States and beyond since mid-September, overlapping with similar, earlier protests in Europe. An attempt earlier this month to clean the New York site, which protesters there feared was a tactic to shut them down, ended with authorities backing off.

Georgia State Sen. Vincent Fort was among those arrested and had come to the park in support of the protesters in recent days. He said the police presence was "overkill."

"He's using all these resources ... This is the most peaceful place in Georgia," Fort said, referring to Atlanta Mayor Kasim Reed. "At the urging of the business community, he's moving people out. Shame on him."

Reed said that the protests cost the city about $300,000, the Atlanta Journal-Constitution reported.

Some protesters could be overhead saying they would return to the park at 6 a.m. Wednesday, when it would be legal for them to be there. TV images showed the number of police far outnumbering the protesters.

Scuffles with police
But while the arrests in Atlanta appeared to be peaceful, in Oakland, Calif., police appeared to lose patience.

The latest skirmish came around 11:15 PT Tuesday in front of City Hall, where a haze of chemical smoke still hung in the air. Earlier in the evening, the crowd numbered around 1,000, according to SFGate.com.

Feeding the movement: How Occupy protesters are eating

The number of protesters diminished with each round of gas, and by early Wednesday there were just a few dozen at the site of the clashes.

Police established a presence in a plaza where a pre-dawn raid Tuesday dismantled an encampment of Occupy Wall Street protesters that had dominated the area for more than two weeks.

Authorities removed about 170 demonstrators who had been staying in the area overnight after repeatedly being warned that such a camp was illegal and they faced arrest by remaining. City officials said 97 people were arrested in the morning raid.

The first evening scuffle broke out after several hundred people made their way back to City Hall in an attempt to re-establish a presence in the area of the disbanded camp.

The protesters had gathered at a downtown library, marched toward City Hall and ultimately were met by police officers in riot gear. Several small skirmishes broke out and officers cleared the area by firing tear gas.

Video: Police in riot gear clear Occupy Oakland (on this page)

The scene has repeated itself several times since. But each time officers move to disperse the crowd, protesters quickly gather again in assemblies that authorities have declared illegal. Tensions rise as protesters edge closer to police line and climax when someone throws a bottle or rock and authorities response with volleys of gas.

Police have denied reports that they used flash bang canisters to help break up the crowds, saying the loud noises came from large firecrackers thrown at police by protesters.

Protesters defiant
Helicopters scanned the area late Tuesday and scores of officers wearing helmets and carrying clubs patrolled the streets. Fire crews responded to small blazes in trash containers.

Protesters moved about uneasily even as one used a bull horn to express his resolve.

"This movement is more than just the people versus the police," Mario Fernandez said. "It's about the people trying to have their rights to basic services."

He added, "This crowd isn't going anywhere anytime soon."

Acting Police Chief Howard Jordan told reporters at a late night news conference that authorities had no other choice, saying the protesters were throwing rocks and bottles at officers.

"We had to deploy gas to stop the crowd," he said, according to a KCBS report.

City officials say that two officers were injured. At least five protesters were arrested and several others injured in the evening clashes.

In Oakland, tensions between the city and protesters have been escalating since last week as officials complained about what they described as deteriorating safety, sanitation and health issues at the site of the dismantled camp.

The Associated Press contributed to this report.

Source: http://www.msnbc.msn.com/id/45030431/ns/us_news-life/

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Video: Rick Perry's Economic Plan

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

Source: http://www.msnbc.msn.com/id/21134540/vp/45028128#45028128

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Selasa, 25 Oktober 2011

Canon posts higher profits in Q3 earnings report, lowers outlook over Thai flood concerns

Things are looking pretty rosy for Canon these days, though there may be some difficulty on the horizon. Today, the camera maker published a rather strong Q3 earnings report, just a few months after posting relatively ho-hum Q2 results. According to the company, operating profit grew by 17.4 percent to ¥122.55 billion ($1.6 billion) this quarter, compared with ¥104.42 billion ($1.37 billion) a year ago. Net profit, meanwhile, increased by 14.2 percent over the year, reaching ¥77.9 billion ($1.02 billion) during the quarter, versus ¥68.20 billion during Q3 2010. These results come at a time when the yen is strong, and therefore detrimental to Japanese exporters, though Canon attributed much of its success to strong growth in emerging markets, including China and India. For the year, however, Canon lowered its net-profit outlook to ¥230 billion ($3.02 billion) from ¥260 billion ($3.4 billion), on assumptions that the yen will maintain its strength, and on fears that recent flooding in Thailand may impact production. In fact, the manufacturer said the flooding may cut annual sales by ¥50 billion ($657 million) and operating profit by ¥20 billion. Check out the full report, at the source link below.

Canon posts higher profits in Q3 earnings report, lowers outlook over Thai flood concerns originally appeared on Engadget on Tue, 25 Oct 2011 04:06:00 EDT. Please see our terms for use of feeds.

Permalink The Wall Street Journal, Reuters  |  sourceCanon  | Email this | Comments

Source: http://www.engadget.com/2011/10/25/canon-posts-higher-profits-in-q3-earnings-report-lowers-outlook/

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Senin, 24 Oktober 2011

Outdoor Time May Reduce Nearsightedness in Children (HealthDay)

MONDAY, Oct. 24 (HealthDay News) -- Myopia, or nearsightedness, is much more common among children and teenagers today than it was about 40 years ago, but spending more time outside could help reverse this trend, a new study suggests.

The authors argued that increased exposure to natural light and more time spent looking at objects from afar might protect kids' vision.

British researchers analyzed data from eight previous studies on outdoor time in 10,400 children and teens with myopia. For every hour spent outside each week, the odds that a child would develop myopia dropped by about 2 percent.

The finding are slated for presentation Monday at the annual meeting of the American Academy of Ophthalmology, held in Orlando, Fla.

In the study, nearsighted children spent nearly four hours less time outside weekly, on average, than other kids with normal vision or farsightedness. The protective effect is linked to just being outside, not engaging in specific activities, the researchers said in an academy news release.

They added that more research is needed to determine if there is also a link between "near work" such as playing computer games or studying and the increase in myopia among kids. Whether increasing the amount of time kids with myopia spend outside will prevent their nearsightedness from getting worse is another topic for consideration, the researchers said.

"Increasing children's outdoor time could be a simple and cost-effective measure, with important benefits for their vision and general health," study author Dr. Anthony Khawaja, of the University of Cambridge, said in the release. "If we want to make clear recommendations, however, we'll need more precise data. Future, prospective studies will help us understand which factors, such as increased use of distance vision, reduced use of near vision, natural ultraviolet light exposure or physical activity, are most important."

Because this study was presented at a medical meeting, the data and conclusions should be viewed as preliminary until published in a peer-reviewed journal.

More information

The U.S. National Institutes of Health provides more information on nearsightedness.

Source: http://us.rd.yahoo.com/dailynews/rss/parenting/*http%3A//news.yahoo.com/s/hsn/20111024/hl_hsn/outdoortimemayreducenearsightednessinchildren

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Minggu, 23 Oktober 2011

Shuttlesworth eclipsed by King in life and death

Rev. Fred Shuttlesworth's children, widow, and others sing during his memorial service Saturday, Oct. 22, 2011, in Birmingham,Ala. at Bethel Baptist Church in the Collegeville neighborhood where he was a pastor from 1953-1961. He was a civil rights leader who helped transform Birmingham by challenging its racial segregation laws. This memorial was the first of several. His final service will be Monday. (AP Photo/The Birmingham News, Tamika Moore)

Rev. Fred Shuttlesworth's children, widow, and others sing during his memorial service Saturday, Oct. 22, 2011, in Birmingham,Ala. at Bethel Baptist Church in the Collegeville neighborhood where he was a pastor from 1953-1961. He was a civil rights leader who helped transform Birmingham by challenging its racial segregation laws. This memorial was the first of several. His final service will be Monday. (AP Photo/The Birmingham News, Tamika Moore)

Members of the Birmingham Police Department and Birmingham Fire and Rescue escort Rev. Fred Shuttlesworth's casket and family members from Bethel Baptist Church to the new Bethel Baptist Church in the Collegeville neighborhood of Birmingham, Ala., on Saturday, Oct. 22, 2011. (AP Photo/The Birmingham News, Michelle Campbell)

Fred Shuttlesworth's widow Sephira Shuttlesworth holds her hand over the casket during the march from Bethel Baptist Church to the new Bethel Baptist Church in the Collegeville neighborhood of Birmingham, Ala., on Saturday, Oct. 22, 2011.(AP Photo/The Birmingham News, Michelle Campbell)

LaVerne Revis Martin signs a guest book as visitors wait to pay their respects to Rev. Fred Shuttlesworth, during a public visitation Saturday, Oct. 22, 2011, in Birmingham,Ala., at Bethel Baptist Church in the Collegeville neighborhood. She was born and raised in Collegeville and was once Shuttleworth's neighbor when he was a pastor there from 1953 to 1961. (AP Photo/The Birmingham News,Tamika Moore)

(AP) ? When a little-known black Baptist preacher named Martin Luther King took the helm of the Montgomery, Ala., bus boycott in 1955, the Rev. Fred Shuttlesworth was already in Birmingham trying to start a movement, but nobody was paying attention.

Shuttlesworth was from a small church. His credentials and pedigree made it easy for local whites to dismiss him as a radical. Until King came to Birmingham, Shuttlesworth couldn't get the national press to recognize his city as the embodiment of the horrors of the segregated South.

He was just another black preacher getting beat up, said former Atlanta mayor, congressman and United Nations ambassador Andrew Young, who worked alongside King and Shuttlesworth in the Southern Christian Leadership Conference. All three men helped establish the organization in 1957.

"They were sued together, they helped organize SCLC together," Young said of King and Shuttlesworth. "He wanted the spotlight very much, but there wasn't but one Martin Luther King."

It was King who won the Nobel Peace Prize in 1964 and went on to become the icon of the civil rights movement. Shuttlesworth, who was overshadowed in life by his comrade in the movement, was again eclipsed by King in death.

Though he died nearly three weeks ago, Shuttlesworth is only now being buried. The reason for the delay: The dedication of the King Memorial on the National Mall, sending most of Shuttlesworth's civil rights colleagues to Washington last weekend.

Had they not been there, they would have likely been in Birmingham remembering Shuttlesworth.

"His friends and Martin's friends were the same," Young said. "But you don't have two memorials at the same time if you want your friends to come." Shuttlesworth's funeral will be Monday.

Among the scheduled events this weekend to remember Shuttlesworth were a pastoral remembrance at the historic 16th Street Baptist Church ? where four black girls were killed in a bombing before Sunday services on September 15, 1963 ? and a candlelight vigil across the street in Kelly Ingram Park, made famous the same year when news footage of policemen and firemen unleashing dogs and blasting water hoses on defenseless civil rights marchers was broadcast to a shocked international audience.

Long before the television cameras arrived, Shuttlesworth was there, organizing many such nonviolent protests.

Shuttlesworth survived a Christmas 1956 bombing that destroyed his home, an assault during a 1957 protest, chest injuries when Birmingham authorities turned the hoses on demonstrators in 1963 and countless arrests. He moved to Ohio to pastor a church in the early 1960s, but returned frequently to Alabama for key protests. He came back to live in the Birmingham area after he retired a few years ago.

"He was able to see how the civil rights struggle kept reinventing itself in different forms," said Diane McWhorter, author of the Pulitzer Prize-winning book, "Carry Me Home: Birmingham, Alabama, the Climactic Battle of the Civil Rights Revolution."

"He was always there to make it clear that this was a continuous struggle."

McWhorter said she never got the sense that Shuttlesworth was bitter about King overpowering the narrative of the movement, and that he never badmouthed King to her.

"He had a huge ego ... but he never said anything like, 'Oh, I should've been the leader of the movement,'" she said. "He kind of recognized that he couldn't have done what King did. But he was just such a key ingredient that it couldn't have happened without him, either."

In his 1963 book "Why We Can't Wait," King himself called Shuttlesworth "one of the nation's most courageous freedom fighters."

After Shuttlesworth's death on Oct. 5 ? the same week the Rev. Joseph Lowery turned 89 and the Rev. Jesse Jackson turned 70 ? Alabama lowered its state flags to half-mast.

"I really do feel like he has sort of gotten his due more and more over the last number of years," McWhorter said. "Partly because he's outlasted everybody, with distinction and class."

Young agreed that Shuttlesworth ultimately received his due, and is recognized as one of the true heroes of the movement. Besides, he pointed out, attention is no substitute for longevity.

"Yes, Martin overshadowed him," Young said of Shuttlesworth. "But he got to live to 89. Martin didn't make it to 40."

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/3d281c11a96b4ad082fe88aa0db04305/Article_2011-10-23-Shuttlesworth%20Remembered/id-72d2a42d8b454524bd0005c1e1e8b226

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Tibetan's failed suicide captured in amateur video (AP)

BEIJING ? Exiled Tibetans have released amateur video that allegedly shows the failed suicide bid of a Tibetan monk in southwest China last month.

The monk is one of at least 10 Tibetans in their late teens and 20s who have set themselves on fire since March in protest over China's rule over Tibet, with at least five of them dying from their injuries. The man in the video is believed to have survived.

The individuals who shared the video did so on condition of anonymity for fear the videographer and those who helped get the video out of China could be punished by the Chinese government.

They said the man in the video is Lobsang Konchok, a teenage monk who tried to set himself on fire Sept. 26 at the Kirti Monastery in Sichuan province's Aba prefecture.

Source: http://us.rd.yahoo.com/dailynews/rss/asia/*http%3A//news.yahoo.com/s/ap/20111023/ap_on_re_as/as_china_tibet

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Sabtu, 22 Oktober 2011

OCZ pushes access-time boundaries with Octane and Octane-S2 SSDs

OCZ Technology's pushing SSDs on step further this morning, with the introduction of the Octane SATA 6Gbps and Octane-S2 SATA 3Gbps SSDs. These guys promise "record-breaking access times" and up to 1TB of capacity, with Indilinx Everest internals playing things out on the inside. Oddly enough, the company claims that this is the world's first SSD to hit 1TB, but in fact, we saw the first one from pureSilicon way back in early 2009. At any rate, the company claims that these guys can deliver up to 560MB/sec of bandwidth and 45,000 IOPS, and they rely on a proprietary page mapping algorithms allow for steady mixed-workload performance. The Octane series also includes a number of features unique to Indilinx -- including latency reduction technology -- enabling both read and write access times as low as 0.06ms and 0.09ms, respectively. Aside from that 1TB flagship, there will also be 128GB, 256GB and 1TB models, and while no pricing details are being outed just yet, we're told to expect around $1.10 to $1.30 per gigabyte. Interested? They'll start shipping on November 1st.

Continue reading OCZ pushes access-time boundaries with Octane and Octane-S2 SSDs

OCZ pushes access-time boundaries with Octane and Octane-S2 SSDs originally appeared on Engadget on Thu, 20 Oct 2011 09:00:00 EDT. Please see our terms for use of feeds.

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Alvin McEwen: The Catholic Church Is Overstepping Its Bounds Against Marriage Equality in Minnesota

In its efforts to help pass a state constitutional amendment against gay marriage in Minnesota, the Catholic Church is creating a troubling precedent:

Archbishop John Nienstedt sent a letter to every priest in the state at the start of October urging them to put every Catholic church in Minnesota to work passing a constitutional amendment banning same-sex marriage.

"It is imperative that we marshal our resources to educate the faithful about the Church's teachings on these matters, and to vigorously organize and support a grass roots effort to get out the vote to support the passage of the amendment," the letter read. It went out on Oct. 4 to every priest in the state.

The archbishop said it wants priests in every parish to identify a "church captain" in order to create an "ad hoc committee" in every church in the state. The "church captain" is a component of the Schubert Flint strategy used in 2008?s divisive Proposition 8 battle in California. ...

According to Nienstedt's letter, the church captains will be organized by the Minnesota Catholic Conference, the public policy arm of the Catholic church, which will in turn report to the Minnesota for Marriage coalition for statewide efforts. Minnesota for Marriage is made up of the Minnesota Family Council, MCC and the National Organization for Marriage.

First of all, I wonder if it is legal for a tax-exempt organization to take such a role in the political process?

And even if it is, I am seriously disturbed by this latest development. I feel very uncomfortable when I think of the possibility of how deep the Catholic Church is putting itself into this state issue. I think people should vote as their faith dictates. However, I have a serious problem with a church official using his office or name to marshal large groups of people to vote in a particular way. And my problems become deeper when I realize that the church where that official belongs is tax-exempt.

Any entity flexing its power over how large groups of people vote while being exempt from laws that cover this sort of thing is a dangerous entity in terms of manpower and money. Moreover, this entity's actions are a slap in the face of an American core belief: the right to vote as your conscience dictates and not be intimidated via implied or stated threats, be they physical ("you are going to be murdered") or spiritual ("you are voting against God's law and will go to hell for it").

It's definitely a license to create havoc. You may not think it's a big deal, but it is. In fact, it is a nasty precedent. Today it's marriage equality. Tomorrow it could be another issue decided not by individual choice but by spiritual groupthink.

And in this case, the Catholic Church is teaming up with questionable allies. Earlier this year, the Minnesota Family Council was rightfully criticized after it was discovered that materials on the organization's website accused gays of pedophilia, bestiality and the consuming of bodily wastes.

The idea that the Catholic Church would align itself with such a group represents a serious problem in judgement.

But regardless of that, this is a country ruled by the Constitution, not papal authority. And frankly, any person who surrenders his or her vote to the whims of someone else -- even if that person supposedly represents a "higher power" -- needs to examine themselves.

Furthermore, I don't think that any entity that assumes tax-exempt status should be allowed to take such a role in a political vote -- at least not without being taxed.

No group should be above the laws of this country, even if that group is of a religious nature.

The Catholic Church may think that it is working in God's name, but those truly working in God's name never have to stoop so low.

?

Source: http://www.huffingtonpost.com/alvin-mcewen/catholic-church-marriage-minnesota_b_1016878.html

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Jumat, 21 Oktober 2011

Bank earnings don't bode well for the economy

By John W. Schoen, Senior Producer

If even a banker can't make money, times are really tough.

The latest round of quarterly bank earnings is bringing into sharper focus the breadth and depth of the economy's distress.

Interest rates are lower than they've been in decades.?Ordinarily, cheap money is a banker's dream. But businesses and consumers just don't want to borrow ? at least not until they see some evidence that the economy is improving.

"It's hard not to be cautious," JP Morgan Chase CEO Jamie Dimon told investors and reporters on a conference call last week. "Right now, nobody knows what is going to happen tomorrow."

That will likely be the main theme of hundreds more corporate?conference?calls in coming weeks, as business leaders try to give investors their best guidance about business prospects for the next few months. Most will likely cite ongoing uncertainty over slowing demand, flagging consumer confidence and the fresh whiff of inflation in the air. With the presidential campaign under way, many will also add to the list the confusion surrounding tax policies, federal budget cuts, health care costs and new regulations.

More recently, another major threat has hit the banking industry's radar screen: the escalating turmoil in Europe.

"The fact is we don't know what the rest of the world is going to do," said Dimon.

After two years of talking, European political and financial leaders are running out of time to head off a Greek debt collapse. The hope is that by orchestrating an "orderly default," bankers can head off another global credit crisis like the Panic of 2008 that followed the collapse of Lehman Bros. But despite repeated efforts to hammer out a workable solution, Europe's leaders remain hamstrung by the conflicting interests of the 17 eurozone countries frozen in political gridlock.

"The situation needs to get dramatically worse before they really get focused on what they need to do," MIT professor and former IMF chief economist Simon Johnson told CNBC. "And we're not there yet."

Investors have already bid down the market price of Greek debt as it becomes increasingly clear the country simply can't pay it back. Now, it's the banks' turn.

This weekend, the European Union will consider yet another plan, this one forcing bankers to take a bigger "haircut" -- of 50 percent -- on their Greek debt holdings. But Johnson said the plan may not go far enough.

"For sure the banks are going to be absorbing extra losses," he said. "But I'm not sure 50 percent is enough. When you look at the numbers carefully, it looks like you'll need 60, 70, some people would say 80 percent to really get Greece on a medium-term sustainable debt path."

Bankers routinely write down bad debt, and many have already set aside some reserves to cover the losses. U.S. banks, in particular, are seen as reasonably well insulated from the direct hit of a Greek default. The wider fear is that a disorderly default could spark another global credit crisis. ?And even if the default is "orderly," bank profits will be harder to come by if the ongoing slowdown in Europe spreads to the global economy.

"The eurozone is already heading for recession, and if its public debt and banking crisis is not contained, the rest of the developed world may follow suit," economists at Capital Economics wrote in research report issued Tuesday.

Bucking the trend
Some smaller, regional U.S. bankers are having better luck than their "too big to fail" counterparts. On Wednesday, US Bancorp and PNC Financial Services reported better-than-expected third-quarter profits thanks to belt-tightening and the growth of commercial loans to smaller businesses.

Smaller businesses rely more heavily on conventional lending because they have a harder time getting funding by selling bonds on Wall Street. Regional banks have also fared better because they are holding fewer bad mortgages and largely sat out the boom in mortgage-backed bonds that drove the housing bubble.

Morgan Stanley bucked the trends facing its big bank rivals, posting a bigger profit Wednesday than analysts had expected. But some $3.4 billion of its revenues resulted from the same accounting footnote that helped Bank of America offset its operating losses in the latest quarter. As the value of the debt on these banks' books fell, accounting rules require them to record a gain on their financial statements.

Those footnotes didn't reverse the harsh impact on consumers as unemployment remains stuck at recession levels.

Profits from consumer banking were hit hard in the third quarter as American households coped with high unemployment and falling home prices by cutting spending and shunning new loans. Though households are slowly paying down debt, wages have stalled, leaving them with little or no money to save or invest.

Consumers are just as leery as big businesses to take on more debt. Bank of America, one of the nation's largest credit card issuers, said revenue from that division dropped 16 percent in the latest quarter

With no signs of recovery in the housing market, banks are writing fewer mortgages. They're also struggling to stem the losses from the mortgages already on their books. Falling housing prices have also added to the number of homeowners who find themselves "underwater" on their loans. That puts them at greater risk of joining the huge backlog of homes in the foreclosure pipeline. As those houses are sold at distressed prices, bankers face the prospect of further losses.

Bankers with heavy mortgage portfolios also face tens of billions of dollars in legal claims from investors who bought bonds backed by mortgages that failed. Bank of America, for example, said that as of the end of the quarter it had $11.7 billion worth of such claims pending from investors and others who are demanding the bank buy back bad mortgages.

They also face a host of other legal claims for doctoring documents and cutting corners in the foreclosure process, including "robo-signing" paperwork without properly verifying it. The industry's largest players are in talks with state attorney's general over a settlement that could cost the industry tens of billions of dollars. But those talks continue to drag on with no clear resolution in sight.

"We would love to have some kind of settlement," Dimon said on the conference call. "But there are 50 state AGs. It looks like it's getting bogged down."

Related:

Feeling pinched? You're not alone

Finance officials around the world are working to find a solution for the global economy to grow. Insight with Simon Johnson, MIT entrepreneurship professor/former IMF chief economist.

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Source: http://bottomline.msnbc.msn.com/_news/2011/10/19/8398784-bank-earnings-dont-bode-well-for-the-economy

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Kamis, 20 Oktober 2011

Google's Bradley Horowitz: 'we're throwing fewer things against the wall'

And with that, a dream dies. Well, maybe that's a bit sensational, but we aren't going to lie -- we weeped inside upon hearing Google's Bradley Horowitz (Vice President of Product Management) contritely state that his company is "doing less of throwing things against the wall." In fact, he proclaimed that Google+ was morphing into a platform that would absolutely, without question become a pillar across the company in some form or fashion. In other words, it's too big to fail. He stated that the idea of using the general public as a test bed for products (hello, Buzz!) was fading quickly, and that this "transformation" would be "very healthy" for Google. He did affirm that engineers are still given their token "20 percent time" in order to innovate on whatever they darn well please, but we seriously got the impression that the culture under Larry Page isn't focusing nearly as intently on that kind of frivolous, outlandish and absolutely marvelous behavior.

Bradley noted that while "20 percent time" isn't going away, there are changes taking place. There's a "higher bar on what gets put to market, and more of an editing function than before." Continuing on, he stated the following: "Instead of making these decisions in the market... we're doubling-down on one's that are more important across the company." If you're a hardcore, orthodox businessperson, this sounds totally logical. The whole "stop being childish, start being responsible" thing sure sounds appropriate on paper, but c'mon -- this is Google! A huge part of the company's mystique, charm and spontaneous nature came in its "we'll try anything once" persona, and if that truly is dying in even a small way, we can't help but have a heavy heart. The further Google strays from its startup roots (and the more it tries to act like every other bureaucratic mega-corp), the less likely we are to get flops like Google TV. But on the same token, the less likely we are to have that one-in-a-million hit (and oddballs like this) that would've never proved viable in any "research group." Here's one final quote from Bradley when asked to elaborate on this corporate shift:

"We would rather do fewer things well -- we're now on a path to remedy prior sins of omissions. I think it's a tradeoff [with losing some of the freewheeling autonomy]. I still think there's a tremendous part of Google culture that'll never change, but what's exciting is that the company is rallying around this, and [the employees] see the benefits of alignment. We've won the hearts of employees, and there's tremendous momentum on what we're doing. My experience is that Larry is a consummate product leader -- it's thrilling, it feels like the company is coordinated in a way that I've never seen. I don't know that it's just Larry, but I couldn't be more impressed with him as CEO. I didn't expect this level of change in company culture when that announcement was made."

Google's Bradley Horowitz: 'we're throwing fewer things against the wall' originally appeared on Engadget on Thu, 20 Oct 2011 05:38:00 EDT. Please see our terms for use of feeds.

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