Tuesday, April 30, 2013

Could Eating Boogers Actually Be Good?

Apr 30, 2013 7:00am

ht scott napper jef 130429 wblog Professor Asks If Eating Boogers Boosts Immunity

Scott Napper is seen in this undated photo from the University of Saskatchewan. (Credit: University of Saskatchewan)

Scott Napper has a hypothesis: What if his daughters? tendency to pick their noses and eat the dried nasal mucus ? ?their boogers ? actually had some health benefits?

Napper, who teaches biochemistry at the University of ?Saskatchewan in Canada,?told the CBC??that he?d wondered whether the ?sugary? taste of the dried mucus was meant to signal to the body that consuming pathogens caught in the mucus was a good thing.

RELATED: Allergies for the Super Rich

?I?ve got two beautiful daughters, and they spend an amazing amount of time with their fingers up their nose,? Napper told CBC. ? And without fail, it goes right into their mouth afterwards. Could they just be fulfilling what we?re truly meant to do??

The hygiene?hypothesis?has long blamed allergies, asthma and autoimmune disorders on a lack of exposure to certain pathogens early in life. Napper contends that eating boogers exposes people ? and their immune systems ? to the pathogens inside.

Napper said he uses his ?hypothesis to engage his first-year biochemistry students. ?He told ?the CBC that he?s already been approached by people looking to participate in a study.

But Dr. William Schaffner, chairman of the department of preventive medicine at Vanderbilt University, said it?s not likely that eating boogers would offer much additional immune system support, because people already unconsciously swallow nasal mucus.

?It happens naturally all the time, and the cells in your own mucous membranes are exposed to whatever is in the mucus constantly,? he said. ?Because it?s part of your own body fluids, you swallow nasal secretions all the time during the day and while you?re asleep.?

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Source: http://abcnews.go.com/blogs/health/2013/04/30/professor-asks-if-eating-boogers-boosts-immunity/

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Online poker is back: Legal website launches in NV

(AP) ? Poker devotees will soon be able to skip the smoky casino and legally gamble their dollars away on the couch ? at least in the state of Nevada.

A Las Vegas-based social gambling company is expected to launch the first legal, real-money poker website in the United States on Tuesday morning.

The site, run by Ultimate Gaming, will accept wagers only from players in Nevada for now, but likely represents the shape of things to come for gamblers across the country.

Internet poker, never fully legal, has been strictly outlawed since 2011, when the Department of Justice seized the domain names of the largest offshore sites catering to U.S. customers and blacked them out.

This crackdown, dubbed "black Friday," left poker fanatics with two options: They could either get dressed and visit a visit a card room, or break the law and log into an offshore site.

More recently, the federal government softened its stance on Internet betting, and three states ? New Jersey, Delaware and Nevada? have legalized some form of online wagering within their borders.

With Tuesday's launch, Nevada wins the race to bring Texas Hold 'em back to the Internet.

"There was black Friday, and now we're going to have 'trusting Tuesday,'" said Ultimate Gaming CEO Tobin Prior. "Players won't have to worry if their money is safe. They are going to be able to play with people they can trust and know the highest regulatory standards have been applied."

The site, UltimatePoker.com, will look familiar to anyone who participated in the poker craze of the 2000s. Only the account setup and login process have changed. Instead of checking a box certifying they are older than 18, players will have to endure a lengthy account setup process involving a Social Security number and a Nevada address. Only those older than 21 will be allowed to play.

Ultimate Gaming and the two dozen other companies still fine-tuning their Nevada poker sites hope they will win the trust not only of players, but of regulators and politicians.

"It's an opportunity to show the world how to properly run online poker," Ultimate Gaming chairman Tom Breitling said.

Several cash-hungry states are weighing legislation that would allow them to tap into what is expected to be a multibillion-dollar market. Some bills would legalize only poker, as Nevada has, while others would throw open the gates to all casino games, including slots, as New Jersey and Delaware have done.

Earlier this year, Nevada Gov. Brian Sandoval approved legislation that gives him the ability to sign deals with other governors to facilitate interstate Internet gambling.

Online gamblers around the world currently wager an estimated $35 billion each year, according to the American Gaming Association. A fully realized U.S. online poker market could generate $4.3 billion in revenue its first year, and $9.6 billion by year five, according to London-based research firm H2 Gambling Capital.

Still, with federal efforts to legalize Internet poker stalled, it may be a while before a critical mass of states link together to lure professional players back from overseas and drive up jackpots.

Nevada, a state of just 2.8 million, attracts 47 million visitors a year? more than the population of California. But who wants to go on vacation just to fire up their laptop and play some virtual cards?

"I think the real excitement will be when we get a very populous state like a California or a New York allowing these companies to expand," ITG casino analyst Matthew Jacob said. "But these changes often take longer to occur than people assume. It requires a change in law and then it takes a while from when the law passes until the sites are up and running."

Prior says he intends to make Ultimate Poker profitable within a matter of years, in part through cross-promotion with mixed martial arts giant Ultimate Fighting Championship. The companies share a common owner: Frank Fertitta III and his brother Lorenzo, who also own Station Casinos Inc., an extensive chain that caters to locals in Las Vegas.

The Ultimate Poker logo has enjoyed prime placement in the UFC fight octagon for months. The Ultimate Poker Facebook page, which steers fans to a zero-stakes version of the site, features a mix of UFC glamour shots and stock images of guys in hoodies staring into laptop screens.

"When you look at the demographic of the UFC fan and the online poker player, it's almost a perfect overlap," Breitling said.

In the coming months, Ultimate Gaming will have to prove that its technology and 111 employees can prevent minors and out-of-state players from wagering real dollars, and guard against money laundering.

It will also have to pay 6.75 percent of its revenue in Nevada state taxes.

It's unclear how much of a boon the new market will be to the cash-strapped state. In 2012, the Pew Center on the States analyzed 13 states that had recently legalized new types of gambling, and found that more than two-thirds of "failed to live up to the initial promises or projections."

The gambling industry is hoping the return of Internet poker will revitalize interest in the game and help brick and mortar casinos capture a younger market.

The rise of Internet poker is generally credited with helping spark the poker fad of the last decade. The end of online gambling is thought to have helped quash interest in the game.

In the coming months, the industry will be watching closely to see if poker players come flocking back from their new hobbies, replacement computer games and illegal offshore gambling sites.

"This is a really huge moment for our company, the state of Nevada and the gaming community," Breitling said. "We're hoping to make poker fun again."

___

Hannah Dreier can be reached at http://twitter.com/hannahdreier

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/f70471f764144b2fab526d39972d37b3/Article_2013-04-30-US-Internet-Gambling/id-05ce886ec7a3432eb52e6e878fb8219e

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Retailers to compensate victims of Bangladesh disaster

By Ruma Paul and Serajul Quadir

DHAKA (Reuters) - Two Western retailers have promised to compensate families of garment workers killed while making their clothes in a Bangladesh factory building that collapsed last week in the country's worst industrial accident.

The pledge from Britain's Primark and Canada's Loblaw came after the owner of the collapsed Rana Plaza was brought before a court in Dhaka on Monday, where lawyers and protesters chanted "hang him, hang him".

At least 385 people were killed in the disaster, the latest incident to raise serious questions about worker safety and low wages in the poor South Asian country that relies on garments for 80 percent of its exports.

With almost no hope left of finding further survivors, heavy machinery has been brought in to start clearing the mass of concrete and debris from the site in the commercial suburb of Savar, about 30 km (20 miles) from the capital Dhaka.

Eight people have been arrested - four factory bosses, two engineers, building owner Mohammed Sohel Rana and his father, Abdul Khalek. Police are looking for a fifth factory boss, Spanish citizen David Mayor, although it was unclear whether he was in Bangladesh at the time of the accident.

There were angry scenes as Rana, a local leader of the ruling Awami League's youth front, was led into court on Monday wearing a helmet and protective police jacket, witnesses said.

"Put the killer on the gallows, he is not worth any mercy or lenient penalty," one onlooker outside the court shouted.

Rana, who was arrested on Sunday by the elite Rapid Action Battalion apparently trying to flee to India, was ordered to be held on remand for 15 days for interrogation.

Khalek, who officials said was named in documents as a legal owner of the Rana Plaza building, was arrested in Dhaka on Monday. Those being held face charges of faulty construction and causing unlawful death.

Bangladesh does carry out the death penalty for murder and for most serious categories of manslaughter.

About 2,500 people have been rescued from the wrecked building, which housed several factories on the upper floors, but hundreds of the mostly female workers who are thought to have been inside remain unaccounted for.

THIRD MAJOR ACCIDENT IN FIVE MONTHS

The collapse was the third major industrial incident in five months in Bangladesh, the second-largest exporter of garments in the world behind China. In November, a fire at the Tazreen Fashion factory in a suburb of Dhaka killed 112 people.

The industry employs about 3.6 million people, most of them women, some of whom earn as little as $38 a month.

Anger over the disaster has sparked days of protests and clashes. Many factories remained closed on Monday due to labor unrest and police used tear-gas to quell demonstrations.

Primark, which was supplied by one of the factories operating at Rana Plaza, said on Monday that it was working with a local NGO to help victims of the disaster.

"Primark will pay compensation to the victims of this disaster who worked for its supplier," said the company, owned by FTSE 100-listed Associated British Foods.

"This will include the provision of long-term aid for children who have lost parents, financial aid for those injured and payments to the families of the deceased."

Loblaw Companies Ltd, which had some of its Joe Fresh clothing line manufactured at Rana Plaza, said it too was offering compensation.

"We are working to ensure that we will deliver support in the best and most meaningful way possible, and with the goal of ensuring that victims and their families receive benefits now and in the future," said spokeswoman Julija Hunter in an email.

Primark and Loblaw operate under codes of conduct aimed at ensuring products are made in good working conditions.

Spain's fashion label Mango told its followers on Facebook at the weekend that it had not carried out a "social audit" of Mayor's company Phantom-Tak, with which it had an unfilled sample order, but would have done so had it gone on to place a full order.

The International Labour Organisation (ILO), an agency of the United Nations, said it was sending a high-level mission to Bangladesh in the coming days.

"Horror and regret must translate into firm action," said ILO Director-General Guy Ryder in a statement. "Action now can prevent further tragedy."

Officials in Bangladesh have said the eight-storey complex had been built on swampy ground without the correct permits, and more than 3,000 workers - most of them young women - entered the building on Wednesday morning despite warnings that it was structurally unsafe.

A bank and shops in the building closed after a jolt was felt and cracks were noticed on some pillars on Tuesday.

(Additional reporting by Sarah Young in London and Susan Taylor in Toronto; Writing by Alex Richardson; Editing by Michael Perry)

Source: http://news.yahoo.com/retailers-compensate-victims-bangladesh-disaster-034530783.html

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Major League Baseball Brings Archives, Highlights And Live Streaming Games To YouTube (But Not In The U.S.)

tumblr_lx59cvv0l21qhyt6oMajor League Baseball has always been very strict about its content appearing on YouTube and other video streaming sites. Peruse YouTube for highlights from your favorite players and teams, and you'll find it nearly impossible to find quality footage. As soon as a clip from a game goes up on YouTube, it's taken down. Up until now, it's just a collection of slideshows and footage uploaded from fans' shaky hand-held cameras at the ballpark. Finally, Major League Baseball is stepping up its effort to tear down those walls.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/CsmmzU4aPTQ/

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Monday, April 29, 2013

Chrysler profit falls 65 pct. on lower shipments

FILE - In this Thursday, Feb. 28, 2013, file photo, Jordan Kenyon works on the assembly line during a media tour before an investment and jobs announcement event at the Chrysler transmission plant in Kokomo, Ind. Chrysler reports quarterly earnings on Monday, April 29, 2013. (AP Photo/AJ Mast)

FILE - In this Thursday, Feb. 28, 2013, file photo, Jordan Kenyon works on the assembly line during a media tour before an investment and jobs announcement event at the Chrysler transmission plant in Kokomo, Ind. Chrysler reports quarterly earnings on Monday, April 29, 2013. (AP Photo/AJ Mast)

DETROIT (AP) ? Chrysler says its first-quarter net profit fell 65 percent as it shipped fewer older vehicles in preparation for several key product launches.

The company earned $166 million in the January-March quarter, compared with $473 million a year ago. Revenue fell 6 percent to $15.4 billion.

Chrysler says vehicle shipments fell 6 percent to 574,000. That's mainly because it ended production of the Jeep Liberty midsize SUV last year. Chrysler is preparing a Toledo, Ohio, factory to make the Jeep Cherokee, which will replace the Liberty later this year.

Launches of the 2014 Grand Cherokee and 2013 Ram Heavy Duty trucks also cut into shipments.

The profit decline comes even though Chrysler's sales were up 8 percent worldwide in the first quarter. Chrysler predicted a strong performance in the second half.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/f70471f764144b2fab526d39972d37b3/Article_2013-04-29-Earns-Chrysler/id-828305ddf68a4fbc872857cd6b6a82b2

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Miss. man charged in ricin letters case

BRANDON, Miss. (AP) ? A Mississippi man was charged Saturday with making and possessing ricin for use as a weapon as part of the investigation into poison-laced letters sent to President Barack Obama and others, authorities said.

U.S. attorney Felicia Adams and Daniel McMullen, the FBI agent in charge in Mississippi, made the announcement in news release Saturday following the arrest of 41-year-old James Everett Dutschke.

FBI spokeswoman Deborah Madden said Dutschke (pronounced DUHS'-kee) was arrested about 12:50 a.m. Saturday at his house in Tupelo.

The letters, which tests showed were tainted with ricin, were sent April 8 to President Barack Obama, Sen. Roger Wicker of Mississippi and 80-year-old Mississippi judge, Sadie Holland.

Dutschke is expected to appear Monday in U.S. District Court in Oxford.

He faces up to life in prison, if convicted.

The news release said Dutschke was charged with "knowingly developing, producing, stockpiling, transferring, acquiring, retaining and possessing a biological agent, toxin and delivery system, for use as a weapon, to wit: ricin."

Dutschke's house, business and vehicles were searched earlier in the week and he had been under surveillance.

Dutschke's attorney, Lori Nail Basham, said Saturday in a text message that "the authorities have confirmed Mr. Dutschke's arrest. We have no comment at this time."

Basham said earlier this week that Dutschke was "cooperating fully" with investigators. Dutschke has insisted he had nothing to do with the letters.

Ryan Taylor, a spokesman for Wicker, said Saturday that "because the investigation is still ongoing, we're not able to comment."

Charges in the case were initially filed against an Elvis impersonator but then dropped. Attention then turned to Dutschke, who has ties to the former suspect, the judge and the senator. Earlier in the week, as investigators searched his primary residence in Tupelo, Dutschke told The Associated Press, "I don't know how much more of this I can take."

"I'm a patriotic American. I don't have any grudges against anybody. ... I did not send the letters," Dutschke said.

Charges were dropped against, Paul Kevin Curtis, 45, the Elvis impersonator, after authorities said they had discovered new information. Curtis' lawyers say he was framed.

Curtis' attorney, Christi McCoy, said Saturday: "We are relieved but also saddened. This crime is nothing short of diabolical. I have seen a lot of meanness in the past two decades, but this stops me in my tracks. "

Dutschke and Curtis were acquainted. Curtis said they had talked about possibly publishing a book on an alleged conspiracy to sell body parts on a black market. But he said they later had a feud.

Judge Holland is a common link between the two men, and both know Wicker.

Holland was the presiding judge in a 2004 case in which Curtis was accused of assaulting a Tupelo attorney a year earlier. Holland sentenced him to six months in the county jail. He served only part of the sentence, according to his brother.

Holland's family has had political skirmishes with Dutschke. Her son, Steve Holland, a Democratic state representative, said he thinks his mother's only other encounter with Dutschke was at a rally in the town of Verona in 2007, when Dutschke ran as a Republican against Steve Holland

Holland said his mother confronted Dutschke after he made a derogatory speech about the Holland family. She demanded that he apologize, which Holland says he did.

On Saturday, Steve Holland said he can't say for certain that Dutschke is the person who sent the letter to his mother but added, "I feel confident the FBI knows what they are doing."

"We're ready for this long nightmare to be over," Holland told The Associated Press.

He said he's not sure why someone would target his mother. Holland said he believes Dutschke would have more reason to target him than his mother.

"Maybe he thinks the best way to get to me is to get to the love of my life, which is my mother," Holland said Saturday.

___

Associated Press writer Jack Elliott Jr. in Jackson contributed to this report.

___

Follow Mohr at http://twitter.com/holbrookmohr.

Source: http://news.yahoo.com/miss-man-charged-suspicious-letters-case-195839113.html

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North Korea says detained American tourist to face trial

By Jane Chung

SEOUL (Reuters) - North Korea said on Saturday that a Korean-American tourist, jailed by the reclusive state since late last year, will face trial for "committing crimes" against the North.

The move comes amid a diplomatic standoff between North Korea and the United States, and as Pyongyang has threatened to attack U.S. military bases in the Pacific and the South.

A number of U.S. citizens of Korean descent have run into trouble in North Korea over the years, and Pyongyang has tried to use their detention to extract visits by high-profile American figures, most notably former President Bill Clinton.

In the latest case, Kenneth Bae, 44, has been held by police since arriving in the northeastern city of Rajin on November 3. He was among a group of five tourists.

"In the process of investigation he admitted that he committed crimes aimed to topple the DPRK with hostility toward it," KCNA state media reported, using North Korea's official title of the Democratic People's Republic of Korea.

"His crimes were proved by evidence," it said, adding he would soon be taken to the Supreme Court "to face judgment". It did not provide further details.

In Washington, State Department spokeswoman Jen Psaki said the United States was aware of reports that an American citizen would face trial in North Korea. She said representatives of the Embassy of Sweden, which acts as the protecting power for U.S. citizens in North Korea, visited Bae on Friday.

South Korean rights workers said that Pyongyang may have taken issue with some of his photographs, including those of homeless North Korean children.

A South Korean newspaper published by an evangelical family said he may have been carrying footage of North Korea executing defectors and dissidents. It was impossible to verify this.

According to North Korean law, the punishment for hostile acts against the state is five to 10 years of hard labor.

Clinton flew to Pyongyang in 2009 and met then-leader Kim Jong-il before securing the release of two American media workers who had been charged with entering the country illegally.

Former U.N. ambassador Bill Richardson, who has made numerous trips to North Korea, some to seek the release of detained Americans, said he hoped the trial might help lead to Bae's release.

Richardson delivered a letter regarding Bae to officials during a trip to North Korea in January, although he was unable to meet him.

"Hopefully the conclusion of the legal process for Kenneth Bae will set the stage for a release on humanitarian grounds," Richardson told Reuters in an email.

But he said Bae "should not become a pawn in the current American-North Korean friction."

Tensions between North Korea and South Korea and its ally the United States have spiraled in recent weeks since the United Nations tightened sanctions after North Korea's third nuclear weapon test in February.

The toughening of those sanctions led to Pyongyang threatening nuclear strikes against South Korea and the United States.

North Korea has a long record of making threats to secure concessions from the United States and South Korea, only to repeat the process later. Both the United States and the South have said in recent days that the cycle must cease.

On Friday, Pyongyang rejected a call for formal talks to end a standoff that forced operations at a joint industrial complex shared by the North and South to be halted.

South Korea in turn said it would pull out all its remaining workers from the Kaesong factory complex, which is just inside North Korea and is one of the North's few sources of ready cash.

Of the 175 remaining South Korean workers, 126 workers left the factory zone on Saturday. The rest are scheduled to return on Monday.

A representative of the South Korean firms at the complex urged the government to hold inter-Korean talks and to authorize their visit to North Korea on Tuesday, South Korea's news agency Yonhap said.

(Additional reporting by Jack Kim in Seoul and Deborah Charles in Washington; Editing by Paul Tait, Jeremy Laurence and Sandra Maler)

Source: http://news.yahoo.com/north-korea-says-american-tourist-holding-face-trial-035954456.html

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Sunday, April 28, 2013

PFT: Niners tab Lattimore in fifth? |? Inspired by Gore

Washington v USCGetty Images

Here are the terms of trades completed on Saturday, April 27, the third and final day of the 2013 NFL Draft. All draft choices are 2013 selections unless otherwise noted:

The Jaguars traded a fourth-round pick (No. 98) to the Eagles. In exchange, the Eagles sent fourth- and seventh-round picks (Nos. 101, 210) to Jacksonville. With pick No. 98, the Eagles selected Southern California quarterback Matt Barkley. Three picks later, the Jaguars selected South Carolina wide receiver Ace Sanders at No. 101. With pick No. 210, the Jaguars took Appalachian State cornerback Demetrius McCray.

The Buccaneers acquired a fourth-round pick (No. 100) from Oakland. The Raiders, in turn, received fourth- and sixth-round selections (Nos. 112, 181) from Tampa Bay. The Buccaneers took Illinois defensive tackle Akeem Spence at No. 100. The Raiders selected Arkansas quarterback Tyler Wilson at No. 112 and UCF running back Latavius Murray at No. 181.

The Giants traded for a fourth-round pick (No. 110) belonging to Arizona. In exchange, New York sent fourth- and sixth-round selections (Nos. 116, 187) to the Cardinals. The Giants took Syracuse quarterback Ryan Nassib at No. 110. With No. 116, the Cardinals took James Madison offensive guard Earl Watford, and with No. 187, they selected Clemson running back Andre Ellington.

The Steelers acquired a fourth-round pick from Cleveland (No. 111). In return, the Browns will get the Steelers? third-round pick in 2014. The Steelers selected Syracuse safety Shamarko Thomas at No. 111.

The Packers traded for Denver?s fourth-round pick (No. 125), giving the Broncos fifth- and sixth-round picks (Nos. 146, 173) in return. The Packers selected UCLA running back Jonathan Franklin at No. 125. At No. 146, the Broncos selected Western Kentucky defensive end Quanterus Smith. At No. 173, the Broncos took Virginia Tech offensive tackle Vinston Painter.

The Seahawks acquired the Lions? fifth-round selection (No. 137). In return, the Lions received fifth- and sixth-round choices (Nos. 165, 199) from Seattle. At No. 137, the Seahawks took Alabama defensive tackle Jesse Williams. The Lions took Appalachian State punter Sam Martin at No. 165 and Notre Dame running back Theo Riddick at No. 199.

The Colts acquired the Browns? fifth-round pick (No. 139) in exchange for Indianapolis? 2014 fourth-round pick. At No. 139, the Colts selected Tennessee-Martin defensive tackle Montori Hughes.

The Falcons acquired the Bears? fifth-round selection (No. 153), sending fifth- and seventh-round picks (Nos. 163, 236) to Chicago. The Falcons selected Texas Christian defensive end / outside linebacker Stansly Maponga. The Bears took Louisiana Tech tackle Jordan Mills at No. 163 and Washington State wide receiver Marquess Wilson at No. 236.

The Rams traded back into Round Five, sending sixth- and seventh-round picks (Nos. 184, 198) to the Texans for Houston?s fifth-round pick (No. 160). The Rams took Vanderbilt running back Zac Stacy at No. 160. The Texans exercised pick No. 198 on Bowling Green defensive tackle Chris Jones. The Texans dealt selection No. 184 to Oakland (see next entry).

The Texans acquired a sixth-round pick from Oakland (No. 176). In return, Houston sent sixth- and seventh-round selections to Oakland (Nos. 184, 233). The Texans selected San Jose State offensive tackle David Quessenberry at No. 176. The Raiders used selection No. 184 on Tennessee tight end Mychal Rivera and selection No. 233 on Missouri Western State defensive end David Bass.

The Buccaneers traded running back LeGarrette Blount to the Patriots for running back / kick returner Jeff Demps and a seventh-round pick (No. 229). The Buccaneers traded the No. 229 pick to Minnesota (see next entry).

The Buccaneers acquired a sixth-round pick from Minnesota (No. 189). In return, the Vikings received sixth- and seventh-round picks (Nos. 196, 229). The Buccaneers took Miami (Fla.) running back Mike James at No. 189. The Vikings selected UCLA offensive guard Jeff Baca at No. 196 and Florida State defensive tackle Everett Dawkins with pick No. 229.

Source: http://profootballtalk.nbcsports.com/2013/04/27/49ers-draft-marcus-lattimore/related/

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NKorea charges US man in plot to overthrow regime

In this March 20, 2013 photo, a North Korean flag hangs inside the interior of Pyongyang?s Supreme Court. North Korea says it will soon deliver a verdict in the case of detained American Kenneth Bae it accuses of trying to overthrow the government, further complicating already fraught relations between Pyongyang and Washington. The announcement about Bae comes in the middle of a lull after weeks of war threats and other provocative acts by North Korea against the U.S. and South Korea. Bae, identified in North Korean state media by his Korean name, Pae Jun Ho, is a tour operator of Korean descent who was arrested after arriving with a tour on Nov. 3 in Rason, a special economic zone bordering China and Russia. (AP Photo)

In this March 20, 2013 photo, a North Korean flag hangs inside the interior of Pyongyang?s Supreme Court. North Korea says it will soon deliver a verdict in the case of detained American Kenneth Bae it accuses of trying to overthrow the government, further complicating already fraught relations between Pyongyang and Washington. The announcement about Bae comes in the middle of a lull after weeks of war threats and other provocative acts by North Korea against the U.S. and South Korea. Bae, identified in North Korean state media by his Korean name, Pae Jun Ho, is a tour operator of Korean descent who was arrested after arriving with a tour on Nov. 3 in Rason, a special economic zone bordering China and Russia. (AP Photo)

In this March 20, 2013 photo, a North Korean flag hangs inside the interior of Pyongyang?s Supreme Court. North Korea says it will soon deliver a verdict in the case of detained American Kenneth Bae it accuses of trying to overthrow the government, further complicating already fraught relations between Pyongyang and Washington. The announcement about Bae comes in the middle of a lull after weeks of war threats and other provocative acts by North Korea against the U.S. and South Korea. Bae, identified in North Korean state media by his Korean name, Pae Jun Ho, is a tour operator of Korean descent who was arrested after arriving with a tour on Nov. 3 in Rason, a special economic zone bordering China and Russia. (AP Photo)

PYONGYANG, North Korea (AP) ? North Korea announced Saturday that an American detained for nearly six months is being tried in the Supreme Court on charges of plotting to overthrow the government, a crime that could draw the death penalty if he is convicted.

The case involving Kenneth Bae, who has been in North Korean custody since early November, further complicates already fraught relations between Pyongyang and Washington following weeks of heightened rhetoric and tensions.

The trial mirrors a similar situation in 2009, when the U.S. and North Korea were locked in a standoff over Pyongyang's decision to launch a long-range rocket and conduct an underground nuclear test. At the time, North Korea had custody of two American journalists, whose eventual release after being sentenced to 12 years of hard labor paved the way for diplomacy following months of tensions.

Bae was arrested in early November in Rason, a special economic zone in North Korea's far northeastern region bordering China and Russia, according to official state media. In North Korean dispatches, Bae, a Korean American, is called Pae Jun Ho, the North Korean spelling of his Korean name.

The exact nature of his alleged crimes has not been revealed, but North Korea accuses Bae, described as a tour operator, of seeking to overthrow North Korea's leadership.

"In the process of investigation he admitted that he committed crimes aimed to topple the DPRK with hostility toward it," the state-run Korean Central News Agency said Saturday. "His crimes were proved by evidence. He will soon be taken to the Supreme Court of the DPRK to face judgment."

DPRK is the acronym for North Korea's official name, the Democratic People's Republic of Korea. No timing for the verdict issued at the austere Supreme Court in Pyongyang was given.

U.S. State Department spokeswoman Jen Psaki said the U.S. government is "aware of reports that a U.S. citizen will face trial in North Korea" and that officials from the Swedish Embassy in Pyongyang had visited Bae on Friday. She said she had no other information to share.

Because Washington and Pyongyang do not have diplomatic relations, the Swedish Embassy in North Korea represents the United States in legal proceedings.

Friends and colleagues described Bae as a devout Christian from Washington state but based in the Chinese border city of Dalian who traveled frequently to North Korea to feed the country's orphans.

At least three other Americans detained in recent years also have been devout Christians. While North Korea's constitution guarantees freedom of religion, in practice only sanctioned services are tolerated by the regime.

Under North Korea's criminal code, crimes against the state can draw life imprisonment or the death sentence.

In 2009, American journalists Laura Ling and Euna Lee were sentenced to hard labor for trespassing and unspecified hostile acts after being arrested near the border with China and held for four months.

They were freed later that year to former President Bill Clinton, who flew to Pyongyang to negotiate their release in a visit that then-leader Kim Jong Il treated as a diplomatic coup.

Including Ling and Lee, Bae is at least the sixth American detained in North Korea since 2009. The others eventually were deported or released.

"For North Korea, Bae is a bargaining chip in dealing with the U.S.," said Koh Yu-hwan, a professor of North Korean Studies at Dongguk University in Seoul, South Korea. "The North will use him in a way that helps bring the U.S. to talks when the mood slowly turns toward dialogue."

As in 2009, Pyongyang is locked in a standoff with the Obama administration over North Korea's drive to build nuclear weapons.

Washington has led the campaign to punish Pyongyang for launching a long-range rocket in December and carrying out a nuclear test, its third, in February.

North Korea claims the need to build atomic weapons to defend itself against the United States, which has 28,500 troops in South Korea and over the past two months has been holding joint military drills with South Korea that have included nuclear-capable stealth bombers and fighter jets.

Diplomats from China, South Korea, the U.S., Japan and Russia have been conferring in recent weeks to try to bring down the rhetoric and find a way to rein in Pyongyang before a miscalculation in the region sparks real warfare.

South Korean defense officials said earlier in the month that North Korea had moved a medium-range missile designed to strike U.S. territory to its east coast.

The Korean Peninsula remains in a technical state of war because the three-year Korean conflict ended in a truce, not a peace treaty, in 1953.

___

Associated Press writers Jean H. Lee in Pyongyang; Sam Kim and Hyung-jin Kim in Seoul, South Korea, and Tom Strong in Washington contributed to this report. Follow Lee, AP's Korea bureau chief, at www.twitter.com/newsjean and Sam Kim at www.twitter.com/SamKim_AP.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/3d281c11a96b4ad082fe88aa0db04305/Article_2013-04-27-NKorea-American%20Detained/id-6484a0af30d14174a878e118180b2601

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H&M prepares $130 million drive to crack Indian market

By Anna Ringstrom and Veronica Ek

STOCKHOLM (Reuters) - Hennes & Mauritz plans to spend around 100 million euros ($130 million) on an initial 50 stores in India, hoping a growing population and rising incomes in Asia's third-largest economy will fuel demand for its fast-changing fashions.

Fredrik Olsson, head of expansion at the world's second-biggest fashion retailer, said in an interview the Swedish group would continue a rapid rollout of stores across the world as it battles to catch up with larger rival Inditex .

Both H&M and Spain's Inditex, which owns the popular Zara brand, have fared better than most clothing retailers in a faltering global economy, thanks to a focus on bringing catwalk styles to the mass market at a fraction of the price.

But H&M has lagged its arch-rival, in part because it does not have the same scale or presence in fast-growing emerging markets. While H&M has around 2,800 stores in 49 countries, it still makes about 80 percent of sales in Europe. Inditex, meantime, has over 6,000 stores in 86 countries and makes about 20 percent of sales in Asian economies versus 6 percent for H&M.

Olsson said H&M had made an investment application to the Indian government, adding the figures were just an estimate. He could not give a time-frame for the opening of a first store in the country.

"It is a very interesting market with a huge population and a growing middle class," he told Reuters at H&M's headquarters in downtown Stockholm's shopping district.

A flurry of international retailers, including Swedish budget furniture chain IKEA, are looking to expand into India after its government moved last year to allow foreign firms to set up wholly-owned subsidiaries in the country. Inditex is already in India through a joint venture.

Indian retail consultancy Technopak has predicted the textile and clothing market in the country would more than double to $141 billion by 2021, from $58 billion in 2012.

In recent years, H&M has been adding other brands to its core H&M chain, such as & Other Stories, to broaden its customer base and mimic the variety of brands offered by Inditex.

In India - as usual for new market entries - H&M would start with the core H&M brand, Olsson said, adding it had applied to sell nine different product categories.

GLOBAL GROWTH

H&M has seen like-for-like sales shrink for six straight months and they are unchanged on average in its past two fiscal years due to the economic downturn in Europe.

However the group, which is about 43-percent owned by the founding Persson family, is debt free and Olsson said it would continue expanding across the world, whether to prepare for an eventual upturn in Europe, to boost its position in a recovering U.S. market or grab a bigger share of emerging markets.

"We have found and mapped loads of (potential) store locations," he said, adding H&M had a competitive advantage in securing good sites during the downturn because of its track record as a tenant.

H&M aims to increase its selling space by around 10-15 percent a year, compared with Inditex's long-term target of about 10 percent, and Olsson saw no change to H&M's goal.

Most new stores this year are planned for China and the United States, as in 2012, and Olsson said those countries would be high on the agenda next year too.

H&M will set up shop in Australia next year, only its second country in the southern hemisphere after entering Chile last month as one of five new markets this year.

Olsson said more new countries were on the cards for 2014, and pointed to Brazil as one potentially interesting market.

Shares in H&M, whose chief executive Karl-Johan Persson is the grandson of the founder, have lagged the STOXX Europe 600 retail index <.sxrp> by 13 percent over the past year, and Inditex by 30 percent. They trade at 21.2 times forecast earnings, well above a sector average of about 10.6, but below Inditex's 23.5, according to Thomson Reuters data.

($1 = 0.7689 euros)

(Editing by Mark Potter)

Source: http://news.yahoo.com/h-m-prepares-130-million-drive-crack-indian-104931561.html

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Saturday, April 27, 2013

'Pain &amp; Gain' To Overthrow Tom Cruise's 'Oblivion' At Box Office

Michael Bay's bodybuilders-turned-criminals film is expected to make $23 million this weekend.
By Ryan J. Downey


Dwayne Johnson and Mark Wahlberg in "Pain & Gain"
Photo: Paramount Pictures

Source: http://www.mtv.com/news/articles/1706374/pain-gain-box-office-predictions.jhtml

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Listen To Alexander Graham Bell Introduce Himself From 100 Years Ago

It's not often you get to hear with the 19th century sounded like, but thanks to 3D scanning and old wax cylinders, it's possible. And now, for the very first time, we know what Alexander Graham Bell, inventor of the all-important telephone, might have sounded like when he made that historic call. More »
    


Source: http://feeds.gawker.com/~r/gizmodo/full/~3/XV7B4xdqyjs/listen-to-alexander-graham-bell-introduce-himself-from-100-ago

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Letta tries to form government to break Italy's political logjam

By Philip Pullella

ROME (Reuters) - Prime Minister-designate Enrico Letta began tricky negotiations on Thursday to form Italy's new government and end a nearly two-month-old stalemate in the euro zone's third-largest economy.

Letta, the deputy head of the badly fractured center-left Democratic Party (PD), was the surprise choice tapped by President Giorgio Napolitano to head a broad-based coalition.

Markets have reacted favorably to the prospect of an end to the political deadlock, with bond yields and the spread with comparable 10-year German bonds falling.

"The market is positive overall, there's a degree of serenity. Letta is a new name and a good 'consensus man,' unlike (former Prime Minister Giuliano) Amato, who smacks of the old order and could have caused a few grimaces," a Milan trader said.

Amato, 75, had been tipped as Napolitano's first choice to form the government.

The government will include the PD's traditional arch-rivals, Silvio Berlusconi's People of Freedom party (PDL), as well as caretaker Prime Minister Mario Monti's centrist group, both of which have said they will support the government.

The bespectacled, balding Letta is an urbane moderate who speaks fluent English and at 46 would be one of Italy's youngest prime ministers, representing a generational change from the era of Berlusconi, Monti and Amato.

Berlusconi told an Italian television station it did not matter who headed the government as long as it enacted reforms.

"The important thing is that there is a government and that there is a parliament that can approve measures that we absolutely need to emerge from the crisis of recession and get back on the path of growth," he said.

5-STAR MOVEMENT CONFIRMS OPPOSITION

Letta began the consultations at parliament early on Thursday morning with smaller groupings, including the Left Ecology and Freedom party, which reiterated that it would remain in opposition.

The anti-establishment 5-Star Movement, the largest group in the lower house Chamber of Deputies, has also said it would sit in the opposition, but would support specific reforms.

Thursday was expected to be dedicated to horse-trading over about 18 ministerial posts in the new government, expected to be made up of technocrats and politicians.

The economy ministry could go either to Fabrizio Saccomanni, the Bank of Italy's director general, or Carlo Padoan, chief economist at the Organization for Economic Cooperation and Development (OECD), according to Italian media.

Angelino Alfano, the secretary of the PDL, has been tipped by some to become deputy prime minister, a choice that would placate Berlusconi but upset some in the left wing of the PD .

The industry and labor ministries could go to politicians and the foreign affairs portfolio to Monti or former Prime Minister Massimo D'Alema of the PD, local media speculated.

The PDL is pushing hard for a much-hated tax on primary residences to be abolished, which was a key plank in their campaign ahead of the inconclusive February elections, which gave the PD a majority in the lower house but not in the Senate.

Letta hopes to form the government before markets open on Monday and seek confidence votes from both houses of parliament early next week.

The PDL and PD had previously failed to reach a deal but Napolitano twisted their arms on Saturday when he was re-elected to an unprecedented second term and threatened to resign unless parties tried to find common ground to pull Italy out of its political rut and work on institutional reforms.

Rivalries between the parties as well as rifts within the PD, which fell short of a viable parliamentary majority in February's vote, could still block an accord. But formation of a government after such a long impasse would signal that Italy is finally ready to make a start on much-needed reforms.

Accepting his mandate on Wednesday, Letta said Italy faced an untenable situation and the government must provide answers on jobs, poverty and the crisis facing small businesses in a recession that now matches the longest since World War II.

He also said European Union economic policies had been too focused on austerity, rather than growth.

(Additional reporting by Stephen Jewkes and Stefano Bernabei; Editing by Alistair Lyon)

Source: http://news.yahoo.com/italy-president-names-center-lefts-letta-premier-103545455--business.html

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Friday, April 26, 2013

Cross Culture Relationship? - Talk About Marriage

Let me try to be more specific - the things we have in common are what have drawn us together - we enjoy the same music and movies and travel and holidays, etc.
We are highly attracted to each other as in, opposites attract type of thing. I am blonde and fair skinned and he is my middle aged version of Antonio Banderas, lol.
He is kind, courteous, etc.

We have big differences, I am not suggesting these are problems, just big differences: he talks to all his family members, every day, almost as if reporting in - they need to know where he is at all times (and this man is over 50 yrs old! LOL)

He is starting life over here after several mishaps. Long story short - he reunited with a college girlfriend on Facebook, they dated long distance, then he moved here to the US to be with her. Soon after moving here, he found out some fairly surprising things about her and they soon split up. Instead of going back to So. America, he has chosen to stay here and build a new life, so we are at very different places in our lives. I am looking to retire in 5 or so years and he is starting over....
Although the roles of men and women in his country have changed over the years, he is still somewhat old school, but at least open minded. He cooks for me, etc.
We sometimes have language difficulties - not always, sometimes.

Anyway, that's most of it....I am just trying to take it day by day, but worry about getting too involved and maybe wonder if I shouldn't go back to dating American born guys...

T

Source: http://talkaboutmarriage.com/ladies-lounge/72214-cross-culture-relationship.html

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Senate passes bill to ease FAA furloughs; House vote likely on Friday (Star Tribune)

Share With Friends: Share on FacebookTweet ThisPost to Google-BuzzSend on GmailPost to Linked-InSubscribe to This Feed | Rss To Twitter | Politics - Top Stories Stories, RSS Feeds and Widgets via Feedzilla.

Source: http://news.feedzilla.com/en_us/stories/politics/top-stories/301649946?client_source=feed&format=rss

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Monday, April 1, 2013

4 hurt in crash, attack at California Wal-Mart

SAN JOSE, Calif. (AP) ? Four people were hurt Sunday when a driver crashed his car into a Wal-Mart and then assaulted customers inside, officials said.

The man hit two cars in the parking lot at about 11:15 a.m. with his red Oldsmobile Cutlass sedan then crashed through the storefront near the pharmacy and collided with a beer display before stopping, police and witnesses said.

The unidentified driver then got out of his car and used a blunt object to attack people, San Jose police Officer Albert Morales said. The driver was arrested when officers arrived.

Investigators have not determined how fast the driver ? described as a man in his 30s ? was going at the time of the crash but the car went about 20 feet into the Wal-Mart Supercenter that had about 70 people inside in San Jose, Morales said.

One person suffered what Morales described as serious injuries. He did not know the extent of the injuries to the three other people but said they were not life-threatening. The injured included a store employee.

Customer Sharon Kaye told the San Jose Mercury News the driver sideswiped her car as he made several runs around the parking lot before driving between poles at the entrance and crashing into the store.

"At first, I thought I may have done something to anger him while driving," she said. "But then I realized he was out to get into the store."

After the crash, the entrance to the Wal-Mart was roped off with yellow police tape, and workers put up large boards covering the automatic doors where the car had entered.

A Wal-Mart spokeswoman told the Mercury News that the store remained shut down for several hours, and an employee was among those hurt.

"We're obviously very concerned about the associate who was injured," spokeswoman Kory Lundberg said.

Shopper and witness Tianna Doan told the newspaper the employee was a cashier who was hit with the object and had a head injury.

Calls to the store by The Associated Press went unanswered Sunday.

___

Information from: San Jose (Calif.) Mercury News, http://www.mercurynews.com

Source: http://news.yahoo.com/4-hurt-crash-attack-california-wal-mart-221547965.html

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Soils in newly forested areas store substantial carbon that could help offset climate change

Apr. 1, 2013 ? Surface appearances can be so misleading: In most forests, the amount of carbon held in soils is substantially greater than the amount contained in the trees themselves.

If you're a land manager trying to assess the potential of forests to offset carbon emissions and climate change by soaking up atmospheric carbon and storing it, what's going on beneath the surface is critical.

But while scientists can precisely measure and predict the amount of above-ground carbon accumulating in a forest, the details of soil-carbon accounting have been a bit fuzzy.

Two University of Michigan researchers and their colleagues helped to plug that knowledge gap by analyzing changes in soil carbon that occurred when trees became established on different types of nonforested soils across the United States.

In a paper published online April 1 in the Soil Science Society of America Journal, they looked at lands previously used for surface mining and other industrial processes, former agricultural lands and native grasslands where forests have encroached.

U-M ecologist Luke Nave and his colleagues found that, in general, growing trees on formerly nonforested land increases soil carbon. Previous studies have been equivocal about the effects of so-called afforestation on soil carbon levels.

"Collectively, these results demonstrate that planting trees or allowing them to establish naturally on nonforested lands has a significant, positive effect on the amount of carbon held in soils," said Nave, an assistant research scientist at the U-M Biological Station and in the Department of Ecology and Evolutionary Biology.

"These forest soils represent a significant carbon reservoir that is helping to offset carbon emissions that lead to climate change," said Nave, lead author of the paper.

Large and rapid increases in soil carbon were observed on forested land that had previously been used for surface mining and related industrial processes. On a post-mining landscape, the amount of soil carbon generally doubled within 20 years of mining termination and continued to double every decade or so after that.

The changes after cultivated farm fields were abandoned and trees became established are much subtler, though still significant. This type of tree establishment -- which has been widespread in recent decades in the northeastern United States and portions of the Midwest -- takes about 40 years to cause a detectable increase in soil carbon.

But at the end of a century's time, the amount of soil carbon averages 15 percent higher than when the land was under cultivation, with the biggest increases (up to 32 percent) in the upper two inches of the soil.

In places where trees and shrubs have encroached into native grassland, soil carbon increased 31 percent after several decades, according to the study. That type of incursion is occurring throughout the Great Plains, from the Dakotas all the way to northern Texas, and is largely due to suppression of wildfires.

"Our work helps those tasked with understanding and managing the carbon balance of U.S. lands by putting a number on the changes in soil carbon that occur during this sort of land-use transition," Nave said.

Most of the organic carbon in forest soils comes from the growth and death of roots and their associated fungi, he said.

The study involved a reexamination of 46 research papers published between 1957 and 2010, as well as an analysis of 409 soil profiles from the National Soil Carbon Network database.

Co-authors of the Soil Science Society of America Journal article are Chris Swanston of the U.S. Forest Service, Umakant Mishra of the Argonne National Laboratory and Knute Nadelhoffer, director of the U-M Biological Station and a professor in the Department of Ecology and Evolutionary Biology.

The work was supported by the U.S. Forest Service and the National Institute of Food and Agriculture.

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The above story is reprinted from materials provided by University of Michigan, via Newswise.

Note: Materials may be edited for content and length. For further information, please contact the source cited above.


Journal Reference:

  1. L. E. Nave, C. W. Swanston, U. Mishra, K. J. Nadelhoffer. Afforestation Effects on Soil Carbon Storage in the United States: A Synthesis. Soil Science Society of America Journal, 2013; DOI: 10.2136/sssaj2012.0236

Note: If no author is given, the source is cited instead.

Disclaimer: Views expressed in this article do not necessarily reflect those of ScienceDaily or its staff.

Source: http://feeds.sciencedaily.com/~r/sciencedaily/~3/5w72tAS0rDY/130401110744.htm

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AP: Gas trade group seeks fracking probe

ALBANY, N.Y. (AP) ? A formal complaint filed with New York's lobbying board asks it to investigate whether Artists Against Fracking, a group that includes Yoko Ono and other A-List celebrities, is violating the state's lobbying law, according to the document obtained by The Associated Press.

The Independent Oil & Gas Association, an industry group that supports gas drilling, filed the complaint Tuesday with the state's Joint Commission on Public Ethics.

The complaint is based on an AP story that found that Artists Against Fracking and its members, including Ono, her son Sean Lennon, actors Mark Ruffalo and Robert De Niro and others, aren't registered as lobbyists and therefore didn't disclose their spending in opposition to hydraulic fracturing, or fracking, to remove gas from underground deposits.

"The public has been unable to learn how much money is being spent on this effort, what it is being spent on, and who is funding the effort," said Brad Gill, executive director of the Independent Oil & Gas Association of New York. "I understand the power of celebrity that this organization has brought to the public discussion over natural gas development, but I do not understand why this organization is not being required to follow the state's lobbying law."

The group confirmed it filed the complaint but didn't comment further.

Artists Against Fracking, formed by Ono and Lennon, says its activities are protected as free speech. The group was created last year amid the Cuomo administration's review to determine whether to allow hydraulic fracturing to remove gas from vast underground shale formations in southern and central New York.

Gov. Andrew Cuomo continues his review as public opinion has shifted from initial support based on the promise of jobs and tax revenue from drilling in economically depressed upstate New York to mixed feelings because of concerns over potential environmental and health effects.

Seven months after Artists Against Fracking was formed, the Quinnipiac University Polling Institute on March 20 found that New York voters were for the first time opposed to fracking, 46 percent to 39 percent.

"There's no doubt the celebrities had an effect," Quinnipiac pollster Maurice Carroll said. "As far as I can tell, they made all the difference."

A spokesman for Artists Against Fracking said the group and its individual members don't have to register as lobbyists.

"As private citizens, Yoko and Sean are not required to register as lobbyists when they use their own money to express an opinion and there's also no lobbying requirement when you are engaged in a public comment period by a state agency," spokesman David Fenton said.

"If the situation changes then, of course, Artists Against Fracking will consider registering," Fenton said. "Up to now, there has been no violation because they are entitled to do this as private citizens with their own money."

On its website, the group implores readers: "Tell Governor Cuomo: Don't Frack New York." Celebrities supporting the group have led rallies and performed in the song "Don't Frack My Mother," also carried on the Internet.

Ethics commission spokesman John Milgrim didn't immediately respond to a request for comment on Friday. By law, the commission doesn't confirm or deny pending investigations.

New York's former lobbying regulator, attorney David Grandeau, said he believed the group and the supporting artists, including musicians Paul McCartney and Lady Gaga and actress Anne Hathaway, should be registered and required to disclose details on their efforts to spur public opposition to gas drilling.

"When you are advocating for the passage or defeat of legislation or proposed legislation and spend more than $5,000, you are required to register," Grandeau said Friday. "Just because you are a celebrity doesn't mean that lobbing laws don't apply to you. Your celebrity status does not protect you in Albany."

Hip-hop mogul Russell Simmons and developer Donald Trump are among the high-profile figures who clashed with the commission when Grandeau was regulator. The biggest penalty for failure to follow the lobbying law resulted in a $250,000 fine against Trump and others over casinos in 2000.

Source: http://news.yahoo.com/apnewsbreak-gas-trade-group-seeks-fracking-probe-172054771.html

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Bank of Cyprus big savers to lose up to 60 percent

NICOSIA, Cyprus (AP) ? Big depositors at Cyprus' largest bank may be forced to accept losses of up to 60 percent, far more than initially estimated under the European rescue package to save the country from bankruptcy, officials said Saturday.

Deposits of more than 100,000 euros ($128,000) at the Bank of Cyprus will lose 37.5 percent in money that will be converted into bank shares, according to a central bank statement. In a second raid on these accounts, depositors also could lose up to 22.5 percent more, depending on what experts determine is needed to prop up the bank's reserves. The experts will have 90 days to figure that out.

The remaining 40 percent of big deposits at the Bank of Cyprus will be "temporarily frozen for liquidity reasons," but continue to accrue existing levels of interest plus another 10 percent, the central bank said.

The savings converted to bank shares would theoretically allow depositors to eventually recover their losses. But the shares now hold little value and it's uncertain when ? if ever ? the shares will regain a value equal to the depositors' losses.

Emergency laws passed last week empower Cypriot authorities to take these actions.

Cyprus' Finance Minister Michalis Sarris said the measures were taken to put the Bank of Cyprus on a solid footing.

"We suffered a serious blow without doubt ... but we now have a bank which is reformed and ready to assume its role in the Cypriot economy," the state-run Cyprus News Agency quoting him as saying.

Analysts said Saturday that imposing bigger losses on Bank of Cyprus customers could further squeeze already crippled businesses as Cyprus tries to rebuild its banking sector in exchange for the international rescue package.

Sofronis Clerides, an economics professor at the University of Cyprus, said: "Most of the damage will be done to businesses which had their money in the bank" to pay suppliers and employees. "There's quite a difference between a 30 percent loss and a 60 percent loss." With businesses shrinking, Cyprus could be dragged down into an even deeper recession, he said.

Clerides accused some of the 17 European countries that use the euro of wanting to see the end of Cyprus as an international financial services center and to send the message that European taxpayers will no longer shoulder the burden of bailing out problem banks.

But German Finance Minister Wolfgang Schaeuble challenged that notion, insisting in an interview with the Bild daily published Saturday that "Cyprus is and remains a special, isolated case" and doesn't point the way for future European rescue programs.

Europe has demanded that big depositors in Cyprus' two largest banks ? Bank of Cyprus and Laiki Bank ? accept across-the-board losses in order to pay for the nation's 16 billion euro ($20.5 billion) bailout. All deposits of up to 100,000 are safe, meaning that a saver with 500,000 euros in the bank will only suffer losses on the remaining 400,000 euros.

Cypriot officials had previously said that large savers at Laiki ? which will be absorbed in to the Bank of Cyprus ? could lose as much as 80 percent. But they had said large accounts at the Bank of Cyprus would lose only 30 to 40 percent.

Asked about Saturday's announcement, University of Cyprus political scientist Antonis Ellinas predicted that unemployment, currently at 15 percent, will "probably go through the roof" over the next few years.

"It means that (people) ... have to accept a major haircut to their way of life and their standard of living. The social impact is yet to be realized, but they will be enormous in terms of social unrest and radical social phenomenon," Ellinas said.

There's also concern that large depositors ? including many wealthy Russians ? will take their money and run once capital restrictions that Cypriot authorities have imposed on bank transactions to prevent such a possibility are lifted in about a month.

Sarris, the finance minister, said that foreign branches of the Bank of Cyprus and Laiki Bank in countries such as Britain, Russia, Ukraine and Romania will eventually be sold. He also said that Cypriots would seek out new markets like China and the Arab countries while maintaining good business relations with Russians, "despite their bitterness."

Cyprus agreed on Monday to make bank depositors with accounts over 100,000 euros contribute to the financial rescue in order to secure 10 billion euros ($12.9 billion) in loans from the eurozone and the International Monetary Fund. Cyprus needed to scrounge up 5.8 billion euros ($7.4 billion) on its own in order to clinch the larger package, and banks had remained shut for nearly two weeks until politicians hammered out a deal, opening again on Thursday.

But fearing that savers would rush to pull their money out in mass once banks reopened, Cypriot authorities imposed a raft of restrictions, including daily withdrawal limits of 300 euros ($384) for individuals and 5,000 euros for businesses ? the first so-called capital controls that any country has applied in the eurozone's 14-year history.

The rush didn't materialize as Cypriots appeared to take the measures in stride, lining up patiently to do their business and defying dire predictions of scenes of pandemonium.

Under the terms of the bailout deal, the country' second largest bank, Laiki ? which sustained the most damaged from bad Greek debt and loans ? is to be split up, with its nonperforming loans and toxic assets going into a "bad bank." The healthy side will be absorbed into the Bank of Cyprus.

On Saturday, economist Stelios Platis called the rescue plan "completely mistaken" and criticized Cyprus' euro partners for insisting on foisting Laiki's troubles on the Bank of Cyprus.

____

AP business correspondent Geir Moulson in Berlin and APTN reporter Adam Pemble in Nicosia contributed.

Source: http://news.yahoo.com/bank-cyprus-big-savers-lose-60-percent-135608668--finance.html

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