Friday, January 20, 2012

Romney urged by ally Christie to release tax return (Reuters)

WASHINGTON (Reuters) ? New Jersey Governor Chris Christie, a key ally of Republican presidential front-runner Mitt Romney, on Wednesday joined Romney's rivals in urging the candidate to release his income tax forms after he said he pays roughly a 15 percent tax rate.

"Let's get all of the facts out there. See what the tax returns say," Christie told MSNBC's program "Morning Joe," although he downplayed that the forms would reveal much and that all the attention would probably be "much ado about nothing."

On Tuesday, Romney told reporters that most of his income stems from investments, placing him at the 15 percent rate - a rate much lower than what most Americans pay. He has said he would not release his tax returns until April.

Romney's Republican rivals have been eager to paint the former private equity executive at Bain Capital LLC and Massachusetts governor as out-of-touch with ordinary voters amid a slow economic recovery and have pounced on the tax issue.

"What I would say to Governor Romney is: if you have tax returns to put out, you should put them out. You should put them out sooner rather than later because it's always better to have full disclosure, especially if you're the frontrunner," Christie said on NBC's program "Today."

Christie, mentioned as a possible vice presidential running mate for Romney, has been actively campaigning for the former Massachusetts governor, making appearances in New Hampshire and Iowa, the first two states to hold nominating contests.

Romney is leading the pack in the state-by-state race for the Republican Party's presidential nomination to face Democratic President Barack Obama on November 6. Saturday's Republican South Carolina primary is the next contest in the race.

Former House of Representatives Speaker Newt Gingrich and Texas Governor Rick Perry have suggested that Romney may be hiding something in not releasing his tax forms.

Some tax analysts have also said it could shed light on Romney's work at the helm of Bain Capital that could give political ammunition to rivals.

A Wall Street Journal editorial on Wednesday called on Romney to use his returns as a platform to call for a simplified U.S. tax code.

"Mr. Romney could use the opportunity to make the moral and practical case for lower rates and fewer loopholes," the Wall Street Journal said.

Romney, whose estimated net worth is $270 million, is one of the wealthiest people to ever run for U.S. president.

Christie said he would not rule out serving as the Republican vice presidential candidate but added that he was planning to continue serving as New Jersey's governor and has had "zero" discussions with Romney about the job.

"If you're a betting guy, I would bet on me being governor of New Jersey after November 2012. But I think it's rude and wrong to say you wouldn't do something that you haven't been asked to do, and I haven't been asked to do it," Christie told the "Today" show.

(Reporting By Susan Heavey; editing by Mary Milliken and Will Dunham)

Source: http://us.rd.yahoo.com/dailynews/rss/business/*http%3A//news.yahoo.com/s/nm/20120118/pl_nm/us_usa_campaign_romney_christie

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Thursday, January 19, 2012

Research and Markets: Mobile Money. A Must-Read Report Featuring Leading Players Such As Consult Hyperion, DoCoMo, Google and Mastercard

DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/1d12ab/mobile_money) has announced the addition of the "Mobile Money" report to their offering.

Mobile money services can mean different things to different people. Often the communications sector views mobile money in the context of its own industry, failing to see how it fits into wider, evolving and established ecosystems. To understand the potential for service providers, it is important to explore their possible role in value chains and appreciate the wider context of payments.

This report looks in detail at three examples of mobile money in action.

It starts with Kenya's M-PESA. A third of Kenya's gross domestic product passes through this system each year. Part of M-PESA's success has been providing a platform capable of hosting innovative business models, from being able to buy a day's insurance for a herd of cattle, to bars in Nairobi that will only accept payment by M-PESA because it saves the time and trouble. Despite initial objections, the banks have benefited greatly once they recognized the potential.

The second value chain examined is NTT DoCoMo's situation in Japan. The communications industry has sometimes dismissed DoCoMo's huge success with its mobile ecosystems as exceptional' circumstances. Arguably, every country is a special case, but there are still valuable lessons for others including how to boost the use of more profitable credit-based payments in a country averse to credit.

The final two value chains examined are Google Wallet and Isis, the first launched in the U.S. in September 2011, the second is due to go live in 2012. Although each approach communications service providers' roles differently, both are working in partnership with the established payments ecosystem. One of the pressing questions here is over who owns the wallet.

So, what are the implications for communications service providers elsewhere? Through looking at approaches to regulation in different territories, and its effects on the rollout of mobile money services, alongside the value chains investigated, the conclusion is that there is much to learn about the way forward.

Companies Mentioned:

  • Consult Hyperion
  • DoCoMo
  • Google
  • MasterCard

For more information visit http://www.researchandmarkets.com/research/1d12ab/mobile_money

Source: http://www.businesswire.com/news/banggoogle/20120117006278/en

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Wednesday, January 18, 2012

No Single Factor in Childhood Obesity (ContributorNetwork)

COMMENTARY | A recent study of childhood obesity, as reported by The Lookout, proves something I often suspected. There is no single blame for the epidemic of childhood obesity in America.

According to the study of nearly 20,000 middle school-aged kids, those who attend schools that offer junk food for sale have no higher incidence of obesity than those where junk food is prohibited. Of course they don't. It isn't as if kids who are consuming the junk food that is marketed to them at school are doing so all day nor are kids who go to a school that only offers healthy food unable to get their hands on some junk food if they want to.

To indicate what a kid eats at school is a deciding factor as to whether that child will be overweight or not discounts a whole lot of hours and eating that aren't taking place at school. It also denies all of the other factors to one's body weight, including exercise and genetics.

Though not surprised by the focus of the study, some of the other information offered by the research -- done by Pennsylvania State professor Jennifer Hook -- some of the information offered by The Lookout article does surprise me.

Such as the fact schools with a higher percentage of poor children are more likely to offer more junk food. And the statistic that 20 percent of children ages 6 to 11 are obese and that the number of overweight and obese children has quadrupled over the past 25 years. I could figure that obesity had increased quite a bit, given the more sedentary lifestyles of kids and that junk food is a bit more readily available. But what about marketing more junk food to poor populations? Does anyone know why that is?

Source: http://us.rd.yahoo.com/dailynews/rss/parenting/*http%3A//news.yahoo.com/s/ac/20120117/hl_ac/10846721_no_single_factor_in_childhood_obesity

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Tuesday, January 17, 2012

New probe vows to cut deeper in Japan nuke crisis (AP)

TOKYO ? A newly formed investigative panel on Japan's nuclear disaster will use its subpoena powers wisely and cut deeper into the accident than the government's probe, the leader of the independent commission said Monday.

The panel appointed by parliament last month has gained attention here because its 10 members include outspoken critics of Japan's nuclear policy who long ago questioned the seismic risks to the country's 54 nuclear reactors.

It is expected to examine the extent to which the 9.0-magnitude earthquake contributed to the crisis at the Fukushima Dai-ichi power plant, as well as the ensuing tsunami and radiation alert system. Interim reports by the government and Tokyo Electric Power Co. focused on the tsunami and deny the quake itself caused damage that led to fires, reactor meltdowns and radiation leaks from the plant.

"We will get to the bottom of the case and compile a proposal for the future as we strive to live up to the people's expectations," panel chairman Kiyoshi Kurokawa told reporters after the commission had its first full open meeting. "We will seek how we can be different from the government panel."

During the meeting, a government official who was summoned to provide overview of the ministry's accident response revealed that Japan had provided crucial radiation leakage data to the U.S. on March 14, nearly 10 days before disclosing them to its own people.

Top government officials have come under fire for failing to use data produced by the radiation warning system, known as SPEEDI, for evacuation when the reactors were in critical condition. They said they couldn't use them due to the lack of accurate data. The disclosure could renew criticism over the government bungling of the evacuation.

But Itaru Watanabe, an Education Ministry official in charge of radiation monitoring, told the panel that the SPEEDI data were given to the U.S. military via Japan's Foreign Ministry "for use in their relief effort."

The panel is the first bipartisan investigative panel appointed by parliament in its modern political history, said Kurokawa, an expert of internal medicine and a professor at the National Graduate Institute for Policy Studies.

It is also the first that can request that parliament subpoena witnesses and documents, although the lack of a penalty for objectors raises questions on its effectiveness. The panel will submit its findings to parliament around June for action to be taken.

The panel includes legal, nuclear and medical experts. Seismologist Katsuhiko Ishibashi has long warned of tsunami risks in the earthquake-prone country where all 54 nuclear reactors are built on the coastline. Engineer Mitsuhiko Tanaka designed nuclear reactors at Babcock-Hitachi K.K. and has suggested the March quake damaged the Fukushima reactors before the tsunami.

The separate government-appointed panel released preliminary findings last month and found plenty to criticize. It said management of the crisis was marred by erroneous assumptions about equipment, delayed disclosure of radiation leaks and other problems.

The government panel had no subpoena power and the more than 400 witnesses it interviewed were allowed to stay anonymous. Kurokawa said he might seek those transcripts to avoid overlaps.

He said the panel has not decided whether to try to question former Prime Minister Naoto Kan and other top officials responsible for the initial crisis response in public. Kan resigned in August amid widespread criticism of his handling of the nuclear and tsunami disasters and recovery efforts.

(This version CORRECTS Corrects spelling of 'subpoena" in first paragraph. Updates with new detail about radiation data disclosure.)

Source: http://us.rd.yahoo.com/dailynews/rss/japan/*http%3A//news.yahoo.com/s/ap/20120116/ap_on_re_as/as_japan_nuclear

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Monday, January 16, 2012

Global shares, euro steady after S&P but outlook weak (Reuters)

LONDON (Reuters) ? European shares and the euro recovered from early losses on Monday in the wake of a mass downgrade of euro zone sovereign ratings, but trading was choppy with U.S. markets closed and the outlook for Greek debt talks uncertain.

Standard & Poor's stripped France and Austria of their triple-A ratings and cut Italy to the same level as Ireland on Friday, shortly after news emerged that Athens' talks on a bond swap with private creditors, seen as vital to avoid a default in March, had broken down.

Ratings agency Moody's also weighed in on Monday saying its Aaa rating for France might come under pressure if the public debt keeps rising or if Europe's debt crisis worsens.

All of that piles pressure on the euro zone's leaders to shore up defenses, with some glimmers of optimism in the crisis now firmly doused. Investors dumped riskier assets in response, especially bank shares, and sought defensive plays such as UK government bonds, leaving the euro down but not sharply.

"The path of least resistance is a safe haven/risk-off trade," said Jeremy Stretch, currency strategist at CIBC.

The euro fell 0.2 percent against the dollar at $1.2651 and still looked vulnerable to a test of Friday's 17-month low of $1.2624.

The FTSEurofirst 300 (.FTEU3) index of top European shares was barely changed from Friday's closing level but the main euro zone bank stock index (.SX7E) fell around 1.1 percent on fears the sector could be the next target for rating cuts.

World shares overall (.MIWD00000PUS) recovered from losses seen in Asian trade to be just 0.2 percent lower. U.S. markets are closed for a holiday on Monday.

Standard & Poor's downgraded nine of the 17 countries that use the euro on Friday and also said it would decide soon whether to cut the euro zone's bailout fund, the EFSF, from triple-A.

"A one-notch downgrade for France was completely priced in, so no negative surprise here, and quite logical after the United States got downgraded," said David Thebault, head of quantitative sales trading at Global Equities.

The growing nervousness saw Europe's commercial banks park almost half a trillion euros at the European Central Bank, the highest on record, as the mix of debt crisis worries and a recent giant injection of ECB cash left banks awash with money but too scared to lend it.

BOND MARKET ADJUSTS

The cost of insuring Italian, Spanish and other euro zone government debt against default rose on the S&P ratings cuts, while shorter-dated UK government bond yields fell. Safe-haven German government bonds retraced gains seen on Friday after reports first emerged of the S&P action.

The ECB was also reported by traders to be active in buying Italian and Spanish government bonds with up to five-year maturities to keep a lid on rising yields.

Italian five-year bond yields, which had been around 6 percent in early trade, dropped to around 5.85 percent on the reports of ECB buying.

The cost of insuring five-year Italian bonds rose to around 518 basis points from under 500 basis points on Friday, meaning it costs 518,000 euros to protect 10 million euros of exposure to Italian debt.

German Bund futures were slightly lower at 139.92, having hit a record high of 140.23 on Friday. Ten-year cash yields were little changed at 1.772 percent.

Italy takes a break from debt sales this week, but France plans to sell up to 8 billion euros of debt on Thursday and Spain comes to the market with sales of 2016, 2019 and 2022 bonds..

Concerns that European financial troubles will drag down global growth and sap appetite for commodities weighed on industrial metals such as copper, while spot gold held steady at around $1,645.25 an ounce.

Brent crude rose above $111 on worries over supply disruptions after Iran warned its Gulf Arab neighbors of consequences if they raised oil output to replace Iranian barrels facing international sanctions.

The latest threat comes as leaders of top Asian buyers of Iranian oil - China, Japan and South Korea - tour alternative Middle East suppliers while the United States pressures nations to stop importing oil from the Islamic Republic.

<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^

Euro-zone sovereign ratings: http://r.reuters.com/maf75s

Regional equity risk premium:http://link.reuters.com/mum95s

^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>

(Additional reporting by Jessica Mortimer and Blaise Robinson; Editing by Catherine Evans/Patrick Graham)

Source: http://us.rd.yahoo.com/dailynews/rss/eurobiz/*http%3A//news.yahoo.com/s/nm/20120116/bs_nm/us_markets_global

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Friday, January 13, 2012

Wolfeboro, NH, braces for possible "White House North" (Reuters)

WOLFEBORO, New Hampshire (Reuters) ? If Mitt Romney gets his wish, the ranks of presidential retreats that include Crawford, Texas, and Rancho del Cielo near Santa Barbara, California, could soon be joined by Wolfeboro, New Hampshire.

Big change could be coming to the rustic but affluent lakeside resort town on Lake Winnipesaukee if front-runner Romney becomes Republican nominee Romney, and ultimately President Romney after the November 2012 election.

Residents are already bracing for the good, the bad and the ugly that could accompany a "Northern White House."

The Romney's summer house on New Hampshire's largest lake is a three-story, six-bedroom, 5,400-square-foot contemporary home set on an 11-acre lot with a wide water frontage and estimated value of about $10 million.

The spread includes a large boathouse and a former stable that has been converted into a guest house. It sits well back from the road up a long driveway, invisible to passers-by.

The Romney clan, which includes five grown children and 16 grandchildren, often congregate in Wolfeboro in the summer. Empty-nesters Mitt and Ann Romney also own a townhouse in Belmont, Massachusetts, and an oceanfront house in La Jolla, California, which is undergoing a fourfold expansion.

Locals describe the Wolfeboro house, within walking distance of town, as tasteful and classy, which is also pretty much how they describe the owners.

Romney, the former chief executive of buyout firm Bain Capital and Massachusetts governor, is estimated to be worth some $200 million. He is the richest man to run for the White House since publisher and businessman Steve Forbes, who was worth about $430 million when he ran in 1996 and 2000.

Unlike Forbes, who made little headway in his quest, Romney is a strong favorite to win Tuesday's New Hampshire Republican primary, kick on to become party's nominee and have a fighting chance to take down President Barack Obama.

"We're already talking about how we might change this business if he is the nominee. We know things would change if he's the president," said Judith Colcord, co-owner of the Downtown Grille and Cafe. That might include adding staff or changing operating hours at the stylish coffee shop, with views of the lake from its back room and seasonal patio.

"I would like to talk to businesses in Kennebunkport about how it changed their community," said Colcord, referring to the coastal town in Maine where George H. W. Bush spent large amounts of time while he served as president and vice president.

Almost everyone in Wolfeboro has a story about the Romneys, many revolving around seeing the former Massachusetts governor cycling around town, helmetless (don't touch the hair!) on an old three-speed bike, or going to the town's popular ice-cream stand with various family members.

"I delivered him a pizza once, about five years ago, when he was governor," said Nick Sackos, 22, who works at Dive Winnipesaukee, an outdoor equipment store.

GEO-CACHING WITH THE ROMNEYS?

A few hundred yards off the Romney property at Clark's Point is a sunken rowboat, the Bumble Bee, used for "geo-caching" -- a treasure-hunting game that involves finding targets, including submerged objects, using GPS coordinates.

"We go scuba diving right outside his house," Sackos added. "We would probably do even more dives if Romney were president."

Wolfeboro residents insist they are not star-struck, given the many celebrities who visit the town each summer.

The roster has included actors Drew Barrymore and Leonardo DiCaprio; talk show host Jimmy Fallon; Duke basketball coach Mike Krzyzewski, recruiting at the elite boarding school Brewster Academy; and many current or former corporate executives who either own or rent properties here.

"We love the waterfront people in Wolfeboro. They pay almost 70 percent of the property taxes and don't put kids in the schools," said realtor Robert Hughes. "They are people who can live anywhere - and this is a very nice 'anywhere.'"

A 2007 vacation in town by French President Nicolas Sarkozy is remembered more critically than interactions with the good-neighbor Romneys. Some locals spoke of an overly aggressive security detail comprised of local law enforcement and private bodyguards while he stayed at a $30,000-a-week rental.

Teachers Joshua and Jennifer Keaton, out walking the family labradoodle, have seen Romney and his wife Ann cycling through town. "One time we saw him at Mise en Place (a local upscale restaurant). Most of the people in town are used to him," Joshua Keaton said.

Driving through downtown takes just a few minutes in the winter, when many stores are shut and summer residents long gone. The town is congested in the summer, and some residents worry about presidential motorcades clogging narrow roads and nosy tourists taking up the good parking spots.

The candidate was introduced to the Wolfeboro area by members of the Marriott hotel clan - not surprising since Willard Mitt Romney was named after J. Willard Marriott, the devout Mormon businessman who founded the company.

Romney bought the property in 1997 from Butch Cash, another hotel executive, for less than $3 million.

In 2004, realtor Hughes sold Romney, then Massachusetts governor, a small parcel of land abutting the main property. Hughes told him in an overnight letter the piece was available and being keenly sought by developers.

Romney quickly called back. "I dealt with him directly. I had his office phone, his private phone, his cell phone," Hughes recalled from his comfortable Main Street office.

"The residents here take pride in not bothering him. He's not a showy person. He's just a neighbor."

(Reporting By Ros Krasny; editing by Todd Eastham)

Source: http://us.rd.yahoo.com/dailynews/rss/gop/*http%3A//news.yahoo.com/s/nm/20120110/pl_nm/us_usa_campaign_romney_wolfeboro

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Liam Hemsworth heads to "Empire State" (Reuters)

LOS ANGELES (TheWrap.com) ? Liam Hemsworth's star has yet to rise, but the 21-year-old actor is continuing to beef up his ever-expanding roster of upcoming lead roles.

His latest is as the main character in the action-heist movie "Empire State," TheWrap has confirmed. The brother of "Thor" star Chris Hemsworth is also starring in "The Hunger Games," "The Expendables 2" and "AWOL," all due this year, and "Timeless," a Phillip Noyce drama due in 2013.

Also in talks for "Empire State" is Dwayne Johnson. If Hemsworth and Johnson pair up for that movie, it could be their second co-billing. Hemsworth is also confirmed to star in Chuck Russell's "Arabian Knights," as Ali Baba. Johnson has been rumored to play Sinbad.

As it's name suggests, "Empire State," produced by Mandeville Films' David Hoberman and Todd Lieberman, is set in New York. But New Orleans is being targeted as a possible shooting location for the "gritty," 1980s-set movie, according to an individual close to the project.

Dates for preproduction and shooting are still being squared away for "Empire State," which is directed by Dito Montiel ("A Guide to Recognizing Your Saints," "Fighting") and written by Adam Mazer ("You Don't Know Jack," "Breach").

The film is due in theaters June 10, 2013.

Source: http://us.rd.yahoo.com/dailynews/rss/movies/*http%3A//news.yahoo.com/s/nm/20120109/film_nm/us_liamhemsworth

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Tuesday, January 10, 2012

Man who found kidney via Facebook recovering from surgery

by KING 5 News

KING5.com

Posted on January 8, 2012 at 6:01 PM

Updated yesterday at 6:02 PM

SEATTLE - A Seattle man is home five days after a kidney transplant thanks to help from Facebook.

On Sunday, Damon Brown enjoyed time at home with his wife, Bethany, and their children. The 38-year-old hopes to return to work in about eight weeks.
????
Damon found his kidney donor after creating a page on Facebook. The donor ended up being someone who worked with Damon's wife years ago.

"There was no Facebook 10 years ago,? he said. ?Who would've known. This definitely wasn't in the cards but now with Facebook it does open the doors for a lot of things. I would've never been able to reach this many people with my story. "

Damon says he went on Facebook Saturday to check-in with his donor to make sure she's healing well since the surgery.

Source: http://www.king5.com/news/local/Man-who-turned-to-Facebook-for-kidney-now-recovering-from-surgery-136916978.html

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Monday, January 9, 2012

Goal Zero Sherpa 50 personal charger hands-on

We're here at CES Unveiled and just got our hands on Goal Zero's new version of its Sherpa 50 personal power pack. Like its predecessor, it's a 50 watt lithium ion power pack meant to give you an extra few hours of juice for your portable devices wherever you go. However, this new version is about half the size of its elder -- not much bigger than three or four CDs stacked together -- and has a removable inverter to slim it down even more. That inverter lets you use a standard electrical plug to re-power your gadgets, but the new Sherpa 50 also has ports built in to allow you to plug in your lap. Available this June, it'll cost $250 as a standalone product and $400 if you want one of Goal Zero's solar panels thrown in for true go-anywhere (as long as it's sunny) computing.

Goal Zero Sherpa 50 personal charger hands-on originally appeared on Engadget on Sun, 08 Jan 2012 19:50:00 EDT. Please see our terms for use of feeds.

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Source: http://feeds.engadget.com/~r/weblogsinc/engadget/~3/KxnTtEkhnEo/

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Saturday, January 7, 2012

Men get 14 and 15 years for UK black teen's murder (AP)

LONDON ? A British judge sentenced two men Wednesday to at least 14 years in prison for stabbing a black teenager to death in London almost two decades ago ? a crime that exposed racism within the police and set the victim's family on a long quest for justice.

The murder of 18-year-old Stephen Lawrence in 1993 shocked the country and came to be seen as a festering racial injustice. It took 19 years before anyone was convicted, and three other suspects remain at large.

Judge Colman Treacy called the murder an evil crime motivated by racial hatred. He sentenced Gary Dobson to a minimum of 15 years and 2 months in jail, and David Norris to 14 years and 3 months.

Dobson's father shouted out "shame on you" from the public gallery after the sentence was announced at London's Central Criminal Court. As the judge stood up to leave after delivering his sentence, a few people began to clap.

Norris gave a thumbs up sign to his supporters in the public gallery as he was led from court. Both men maintain they are innocent.

Treacy said the sentences were shorter than many would have expected as both men were teenagers when the crime took place.

Treacy said that an adult today convicted of a racist knife murder would get a minimum of 30 years in jail, but as Dobson was 17 and Norris just 16 at the time of the crime, he only had to give them a minimum of 12 years.

He added extra time because of the racist nature of their attack and because neither had shown any remorse.

Outside court, Lawrence's mother Doreen Lawrence said the killers had received short sentences but "the judge's hands were tied."

She said the sentences were "the beginning of starting a new life because we've been in limbo for so long."

"So today we're going to start moving on, and it's time to take control of my life once more," she said.

While sentencing Dobson and Norris, Treacy said the two belonged to a "racist, thuggish gang."

He said the evidence in the trial could not prove who wielded the knife that killed Lawrence, but he said that whoever used it had done so with Dobson and Norris's "knowledge and approval."

Another three men had been initially arrested after Lawrence's murder but have never been convicted of the crime.

Outside court, Stephen's father Neville Lawrence said he hoped Dobson and Norris would now identify other members of the gang.

He said they should "go and lay down in their bed and think that they weren't the only ones who were responsible for the death of my son."

Doreen and Neville Lawrence divorced six years after their son's murder ? Doreen said she felt "alone and unsupported" in the years following her son's murder.

London police chief Bernard Hogan-Howe said the force would not give up trying to prosecute the other killers.

"The other people involved in the murder of Stephen Lawrence should not rest easy in their beds," he said.

Lawrence was killed in April 1993 by five youths who shouted racial insults and then stabbed him in the arm and chest as he waited at a bus stop with a friend.

Police arrested five young men including Norris and Dobson and charged two with murder. But the state abandoned the case, saying there was insufficient evidence.

Lawrence's family won permission in 1994 to mount a private prosecution, and the same five men were named as defendants. But two were released before the trial, and the case collapsed in April 1996 when a judge ruled that testimony identifying the remaining defendants was inadmissible.

The inquiry headed by former judge William MacPherson issued a report in 1999, accusing London's police force of "professional incompetence and institutional racism."

It detailed a litany of flaws in the police response to the crime, concluding that bungling and racist attitudes ? including condescending treatment of Lawrence's family and failure to quickly take statements from black witnesses ? had hobbled the investigation.

Afterwards the government passed a law requiring the police and other public bodies to work against racism and promote equality.

It also prompted the scrapping of the ancient "double jeopardy" rule, which said a defendant acquitted of a crime could not be tried again for the same offense.

The police looked again at the case, and scientists using techniques not available in 1993 found new DNA evidence, including a tiny speck of Lawrence's blood on Dobson's jacket.

The jury was not told during the trial that Dobson is already in jail for a drugs conviction.

Norris has been in and out of prison for other convictions. In 2002, he was jailed after shouting a racist insult at a police officer and was later jailed again for stealing a car

__

Associated Press writer Jill Lawless contributed to this report.

Source: http://us.rd.yahoo.com/dailynews/rss/topstories/*http%3A//news.yahoo.com/s/ap/20120104/ap_on_re_eu/eu_britain_stephen_lawrence

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Friday, January 6, 2012

Iowa caucus 2012: GOP presidential candidates make their final push - live

3.57pm: Our reporter Adam Gabbatt has been visiting one of the Rick Perry bases in Iowa, at the Sheraton Hotel, a big concrete cube just off the freeway in West Des Moines.

Adam Gabbatt byline

In the lobby, "Perry for president" fleeces and rich Texan drawls abound. The Perry team has hired two large rooms on the ground floor, with one set aside for supporters to canvas support by telephone.

In front of each chair is a black mobile phone ? imagine the bills ? with a sheet of registered Republicans to work through and a list of questions to ask should someone take the unfortunate step of picking up.

At 2pm on the day of the caucus there were less than ten people bashing the phones, but many more manning computers in the lobby or setting off to plant Perry signs around the area.

Few supporters come more loyal than 17-year-old Reagan Ashley, who sold pro-Perry posters to raise money to fly from Harlingen, Texas and has been campaigning in Iowa since 28 December.

Ashley, who made the journey with 15-year-old sister Miranda and mum Renda, said he got into politics after Obama's election, and cited Perry's record on job creation as one of the main reasons for backing him .

Ashley thinks Perry will finish in the top four in Iowa ? the polls disagree ? and says the Texan can still win he nomination.

Aside from the other presidential candidates, however, Perry may find he has a threat within his own camp. Ashley is planning to follow in Perry's footsteps by going to Texas A&M, before studying political science "with economics and some philosophy" (Perry graduated in animal science) at the conservative Hillsdale College.

After that? "I'll become a Texas legislator, then probably eventually governor."

3.52pm: The Democrats are caucusing in Iowa tonight, too, although their candidate, Barack Obama, is unsurprisingly standing unopposed. As Radio Iowa reports, he has not exactly been absent from the state.

The presidential candidate with the most aggressive campaign operation in Iowa over the past year may have been President Obama, with eight offices operating around the state and a turn-out plan for tonight's Democratic Caucuses to lay the groundwork for the November election. Iowa is likely to be one of those so-called "battleground" or "swing" states in the general election, meaning Obama and whomever Republicans nominate to run against him will be spending time campaigning here as the November election draws near.

3.39pm: It's probably a bit late to make Rick Perry look presidential now, but that hasn't stopped his campaign team, which has put out this feelgood film on Caucus day to get the vote out. Don't miss the swelling chords, reminiscent of the West Wing theme...

Source: RickPerry.org

3.23pm: More on the format of the Iowa caucuses that Richard mentioned earlier at 1.45pm. Most are held in large, community venues like schools and churches ? but a few are in people's front rooms.

The New York Times's Caucus blog (which, confusingly, isn't usually a blog about caucuses) has been speaking to some of those who host caususes in their homes: "Sometimes it's just my wife and I," Art Joens of Manilla told the NYT. "if we have a half a dozen it'll be a good crowd."

Also quoted is Sharon McNutt, who will host a caucus at their home in Silver City, Iowa:

Mrs McNutt, who will provide coffee and cookies for those who attend and will count votes in a Frosty the Snowman tophat, appreciates the more conversational atmosphere of her house, as opposed to the more austere setting of a public building.

"I think there are more hugs, people are warmer," she said. "Some people tend to linger and talk about other things. It's a good community time, they don't feel a rush to get out of here because it's a home."

2.58pm: Newt Gingrich is angry. All those attack ads! He's so angry that he's going to hurl this ice cream at the photographer.

Newt Gingrich, Callista Gingrich Newt Gingrich with his wife Callista as he buys two scoops of "Moose Tracks" ice cream at Elly's Tea and Coffee House in Muscatine, Iowa. Photograph: Charles Dharapak/AP

2.50pm: This is Matt Wells taking over from Richard Adams, who will be back later when some actual news is likey to happen.

Meanwhile, our correspondent Ewen MacAskill has called in at La Mie bakery in Des Moines for some sustenance before a Rick Santorum event.

Button badges for Santorum and Perry selling at three for $5. Romney button badges going for $10 for three. Is this a reflection on his time as a businessman, his commitment to capitalism or just a button-seller who thinks Romney supporters have more money?

No reports on the donuts, though.

2pm: Finally, after suffering a million-dollar blitz of negative ads from a Mitt Romney-supporting political action committee [Pac], Newt Gingrich drops the L-word on Romney.

Speaking to Norah O'Donnell on CBS's Early Show this morning, Gingrich went nuclear. Let's roll the tape:

Norah O'Donnell: You scolded Mitt Romney, his friends who are running this super Pac that has funded [the attack ads]. And you said of Mitt Romney, "Somebody who will lie to you to get to be president will lie to you when they are president."

I have to ask you: Are you calling Mitt Romney a liar?

Newt Gingrich: Yes.

O'Donnell: You're calling Mitt Romney a liar?

Gingrich: Well, you seem shocked by it. Yes. I mean, what else could you say?

O'Donnell: Why are you saying he's a liar?

Gingrich: This is a man whose staff created the Pac. His millionaire friends fund the Pac. He pretends he has nothing to do with the Pac. It's baloney. He's not telling the American people the truth. It's just like his pretense that he's a conservative.

Here's a Massachusetts moderate who has tax-paid abortions in Romneycare; puts Planned Parenthood in Romneycare; raises hundreds of millions of dollars of taxes on businesses; appoints liberal judges to appease Democrats; and wants the rest of us to believe somehow he's magically a conservative.

I just think he ought to be honest with the American people and try to win as the real Mitt Romney, not try to invent a poll-driven consultant-guided version that goes around with talking points.

So tell us what you really think Mr Gingrich?

1.45pm: How do the Iowa caucuses work? Univision News has this useful explanation from the horse's mouth ? the horse in this case being Iowa Republican party chairman Matt Strawn:

Once the meeting is called, the first thing that's generally done is that each presidential campaign has the opportunity to have a representative speak on their behalf. And usually it's someone who comes from that precinct and lives in that community. When you have two out of every five voters who can still be persuaded to switch, it is crucial who a candidate has stand up for him to make that final close.

So after a two to three minute speech by a representative, then you actually go to the vote. We have a secret ballot in the Republican caucus and in my particular precinct, you have a slip of paper, you simply write the surname of your preferred presidential candidate, drop it in the ballot box that's passed around the room, and then the votes are actually counted right there in the room, in the open. The campaigns have someone who's able to observe the counting, so it's probably as transparent and open an election you can get.

Those results are reported to the entire room then called into Republican headquarters, where my staff will tabulate 1,774 different precincts, we'll aggregate it together, then we'll simply report the raw vote total that happened all across the state Tuesday night. And those are the results for the Iowa caucus.

And then we all go to New Hampshire, the end.

1.35pm: No matter who wins the GOP caucuses in Iowa tonight, is Barack Obama the real winner?

Buzzfeed Politics, the new kid on the political media block, talks to the Obama campaign's pollster Joel Benenson, who sees the hapless Republican effort in Iowa as being a net gain for the president's re-election chances:

The reality is that there's a lot less enthusiasm for this field than people may have touted. This is a field where every candidate comes with significant flaws in terms of the general election, in terms of their economic values, in terms of their extreme positions, in terms being under the influence of the Tea Party.

1.25pm: Twitterati will be interested in this tool from the Washington Post: @mentionmachine, designed to track the social media's impact on the 2012 presidential candidates.

1.04pm: The GOP presidential candidates have compared themselves to Ronald Reagan, Abraham Lincoln and Teddy Roosevelt. (Newt Gingrich even talks up his "partnership" with Bill Clinton.) But one two-term Republican president doesn't seem to get mentioned much: George Bush*.

'Miss me yet?' George Bush billboard, Minnesota Apparently not, based on the GOP candidates in Iowa

The Associated Press's Beth Fouhy asks: Where's George?

The eight-year Bush presidency has merited no more than a fleeting reference in televised debates and interviews. When it does surface it's often a point of criticism, as when former Pennsylvania Sen. Rick Santorum told CNN on Sunday that he regretted voting for the No Child Left Behind education law Bush championed.

The former president himself has been all but invisible since leaving office in 2009 with a Gallup approval rating of just 34%. His predecessor, Democrat Bill Clinton, had a 66% approval rating in early 2001 when he stepped down after two terms marred by a sex scandal and impeachment.

Certainly, while candidates might be panting for the endorsement of Sarah Palin or even a nobody such as Herman Cain, none of them seems to be interested in Bush's backing.

*Historical footnote: George W Bush was America's 43rd president, first elected in 2000.

12.49pm: The Guardian's Adam Gabbatt is at the "Rock the Caucus" event in West Des Moines today and hears several of the candidates make a pitch for the yoof vote:

At Valley High School in Wes Des Moines around 400 high school seniors had packed into the school's gym as part of a Rock the Caucus initiative - a bid to engage young people in politics.

They were treated to three presidential candidates and a variety of attempts to appeal to the younger generation.

First up, Michele Bachmann, who spoke of her Iowan upbringing and parents' divorce before going nuclear and pulling out her iPhone: "Who's got one of these?"

The lukewarm response to Bachmann carried over as "Romney's boys" took to the stage, Tagg Romney seemingly attempting to get down with the kids by embarrassing his father, ending an anecdote about Mitt building a fence by saying he learned the current Republican front-runner was "extraordinarily cheap. He is the cheapest person you could ever meet."

The joshing was tempered by Tagg saying if his dad becomes president: "He'll never do anything to embarrass you."

Rick Santorum was on next, urging students to scrutinise their choice of candidate closely: "You have a tough choice to make."

Santorum harked back to his own childhood, saying he was from a family of immigrants whose grandfather came to the US "because he was not a fan of fascism and Mussolini".

The former Pennsylvania senator left the stage to loud cheers, with three students waving Santorum signs, but the loudest applause was reserved for Ron Paul, who has a large following among young people.

Paul began cryptically by asking his crowd: "Does anybody here know the name Kelly Clarkson?" which muted the crowd somewhat ? the one-time American Idol star endorsed Paul two weeks ago ? before trying to reason why so many youngsters were supporting him.

The conclusion? He endorses the constitution and "sticks to his principles".

Paul stuck to basics, criticising the bank bailout and handling of the financial crisis, relating the economy to the increasing cost of college education the high school students face.

Paul left to loud applause, with a small group following him to his car and a 20 strong group of older supporters awaiting him with signs and cheering.

Kelly Clarkson won American Idol back in 2002, when most of these students were like nine years old. Ancient history, Ron Paul.

Adam also shot this video of Ron Paul supporters outside the high school venue today, including this dialogue in which a Paulista channels Andy Dwyer from Parks and Recreation:

Q: Why are you such an ardent supporter of Ron Paul?
A: Because he's awesome.

12.30pm: Pollsters Gallup say that this year's GOP primary campaign has been unusually volatile for the Republican party, which is traditionally more stable than the Democratic party in such matters.

The old joke in US politics is "Democrats fall in love, Republicans fall in line". But not this year, not so far anyway, says Gallup:

Historical comparisons of primaries can be problematic given differences in the number of candidates and number of poll conducted each election. It seems clear, however, that this phase of the 2012 Republican nomination process has been the most volatile for the GOP since the advent of polling.

Even so, the Republican switches in the lead still lag behind the Democratic party's six front-runners in the 2003-04 primary campaign season.

12.15pm: Hey it's Herman Cain on Fox News. He's still not endorsing anyone: "Whoever gets the Republican nomination, I will actively support," says Herman. Even Mitt Romney.

Here's the good news: "Probably because of my biological clock, I'm ruling out running for president" again, says Cain. Also: "I do not want a ceremonial position in anyone's cabinet."

11.50am: Chris Moody, political reporter for Yahoo! News, is at the "Rock the Caucus" high school event in West Des Moines, and tweets this disturbing news:

Big faced, ok, but "kind of hot"? Let's hope they don't Google "Santorum" to find out more.

11.37am: Filmmaker Kat Keene Hogue and the Guardian in America interactive team have posted this fascinating video of Iowa voters explaining how they make up their minds.

Watch it. It's a relatively unedited insight into what actual Iowans are thinking.

11.18am: Heard enough about Iowa? Well think again, thanks to this awesome Iowa hipster video doing the rounds:

Warning: is a bit NSFW because of the HBO-like swearing. Here is the non-swearing bleeped-out version.

Adam Gabbatt

11am: The Guardian's Adam Gabbatt is already out and about in Iowa hunting for news ? and finds that Ron Paul's famous army of grassroots supporters have got there before him in the freezing first light of an Iowan dawn:

Driving west from Des Moines this morning the only visible sign that it's caucus day was the sight of a small group of Ron Paul supporters shivering at the side of Martin Luther King Jr Parkway.

Justin Yoursion, precinct captain for West Des Moines 313, said the group of six people ? split either side of the busy main road ? had been there since 7am CT. At 9am the gang were getting regular honks from drivers, with some stopping to ask questions about Paul's policies.

Yoursion said it was "hard to say" how many would turn out to his caucus at Valley Southwards High School tonight, but said: "I assume over 100."

"They predicted we need over 111 to win our precinct," he said, adding that his precinct was expected to be a straight battle between Romney and Paul, as it is "a wealthy area".

Nick Stiles was sign-waving alongside Yoursion, and said he would be involved in driving people to caucuses tonight. "I did it four ago, drove about four or five people," he said.

Stiles said he will receive calls from Ron Paul's headquarters from 5pm onwards, asking him to collect supporters. "There's a lot of young people ? people that don't have cars."

Adam reports that Paul really does have a large number of young supporters: "I can confirm having briefly visited his HQ east of Des Moines yesterday, where most of the 20 or so hammering the phones looked under 30."

Ron Paul supporters in Iowa Ron Paul supporters on caucus day in Iowa. Photograph: Adam Gabbatt/Guardian

Personally, I would pay good money to hear a losing Romney staff member say something like: "And we would have got away with it too, if it hadn't been for those pesky kids."

10.30am: What the papers say, Iowa caucus edition.

? Iowa Caucus Final Poll Snapshot: Close But Romney's Ahead ? Huffington Post

HuffPost polls geek Mark Blumenthal looks at the final polling data and sees that Mitt Romney leads Ron Paul by a slim margin, followed by Rick Santorum.

? Mitt Romney heckled at his final rally before Iowa caucuses ? Guardian

Ewen MacAskill's colourful round-up of the final day of campaigning.

? Iowa Race Down to the Wire ? Wall Street Journal

The WSJ reaches into the big bag of Iowa cliches.

? Frenetic Push as Campaign in Iowa Ends ? New York Times

Luckily there are some cliches left over for the NYT's headline writers

? Santorum's Opportunity: Working-Class Republicans ? National Journal

Ron Brownstein is perhaps the smartest political journalist in America (now there's a backhanded compliment) and this piece argues that Rick Santorum could tap a vein of Republican populism:

The growing blue-collar presence in the Republican primary could offer Santorum a base from which to challenge Romney because the former Massachusetts governor has not demonstrated a consistent appeal to those voters.

? Primaries may be messy, but they make candidates stronger ? Boston Globe

John Sununu, the former Republican senator from New Hampshire and Mitt Romney booster, writes an illuminating op-ed piece on the meaninglessness of Iowa:

Iowa has never been a good indicator of the eventual Republican nominee. For candidates like Pat Robertson and Mike Huckabee, the shine from their caucus successes faded fast, but for the political media, the predictable unpredictability of Iowa is good for business.

10.18am: Here's edited highlights of the candidates' movements in Iowa today. (The campaigns are keeping their schedules close to their chests in order to avoid tipping off their opponents.)

Mitt Romney
This morning: Held a rally at the Temple For Performing Arts in Des Moines
This evening: Holds a caucus night event at Hotel Fort Des Moines, Des Moines

Rick Santorum
This morning: Addresses 800 caucus-eligible juniors and seniors at a "Rock the Caucus" assembly, West Des Moines
This evening: Hosts Iowa Caucus Night Victory Party, Stoney Creek Inn, Johnston

Ron Paul
This morning: Addresses 800 caucus-eligible juniors and seniors at a "Rock the Caucus" assembly, West Des Moines
This evening: Holds Iowa Caucuses night event, Courtyard Des Moines Ankeny

Newt Gingrich
This morning: Visits Elly's Tea, Muscatine.
This afternoon: Visits Drake Restaurant, Burlington
This evening: Speaks at Black Hawk County Caucus, Cedar Falls

Rick Perry
This morning: Attends Iowa Caucus Training event, West Des Moines Sheraton
This afternoon: Holds town hall at Principal Financial Group and Nationwide/Allied Insurance, Des Moines
This evening: Holds caucus night event, Sheraton West Des Moines Hotel

Michele Bachmann
This morning: addresses 800 caucus-eligible juniors and seniors at a "Rock the Caucus" assembly, West Des Moines
This evening: Speaks at Black Hawk County Caucus Super-Site, Cedar Falls, and holds caucus night event. West Des Moines Marriott

Jon Huntsman in New Hampshire Not in Iowa: Jon Huntsman campaigning in New Hampshire this morning. Photograph: Matt Rourke/AP

Oh and Jon Huntsman is rattling around in New Hampshire. But no one cares until about 7am tomorrow.

Good morning and welcome to our live coverage of the final hours of campaigning before the 2012 Iowa Republican caucuses ? as Mitt Romney, Ron Paul and Rick Santorum make a final bid to win over undecided voters.

With just under 10 hours until the caucus actually start, the six candidates in Iowa are holding rallies and get-out-the-vote pushes to ensure that their committed supporters actually find their way to their caucus sites in time for kick-off at 8pm ET (1am GMT).

The Guardian has reporters on the ground in the Hawkeye State, watching the final spurts of campaigning. We'll be covering all the final twitches of activity ? with Newt Gingrich already preparing a last-minute assault on Mitt Romney ? right here.

Later this evening we'll be live blogging the caucus results as they come in ? with a winner possibly being named around 10pm or 11pm ET.

Mitt Romney Iowa Mitt Romney speaks at a campaign event in Iowa last night. Photograph: Charlie Riedel/AP

In the meantime stayed tuned ? and don't forget to enter our Iowa Caucus Forecast competition: choose the order that the seven main candidates finish in, and win so-called prizes.

Source: http://www.guardian.co.uk/world/richard-adams-blog/2012/jan/03/iowa-caucus-2012-gop-live

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Thursday, January 5, 2012

The Role Of Real Estate Corporate Finance | India Real Estate ...

State Of The Indian Economy

Financial crises in some or the other form are known to happen almost every decade, and in all parts of the globe.? In the past, countries like Argentina, Sweden, Korea, Russia, Indonesia, the UK, Japan and the US have all seen financial meltdowns in varying degrees and for varying reasons. Such crises are the results of overheating markets, excessive debt leveraging, credit booms, errors in reading risks, too much money leaving the country in too short a period, faulty or mismanaged macroeconomic policies and unmonitored deregulation.

India is currently feeling the fallout of the on-going global crisis. The country?s equity and credit markets are reeling under the combined effects of reduced overseas financing for Indian banks and corporates, reduced opportunities to raise funds on the Indian capital market and increasingly constrained internal accruals by corporates.

How Corporates Are Being Affected

The impact of the crisis on Indian corporates is deeper than was initially anticipated. Broadly speaking, the Indian economic outlook must be viewed in a cautious light. Economic activity has definitely slowed and GDP has been rationalized perceptibly. Industrial activity, especially in the manufacturing and infrastructure sectors, has seen marked reduction, and even the services sector ? which has been the sector we were counting on the most ? is slowing down. In fact, the financial crisis and economic slowdown in the developed economies are having a direct impact on the IT, construction and manufacturing industries.

In such an uncertain economic environment, many corporates in India are already facing considerable challenges. While the more cash-rich companies may not be as severely affected, the ones which have lower financial enablement quotients are facing liquidity issues in varying degrees of severity.

The Role Of Corporate Finance

Over the last seven years, there has been a tectonic shift in asset pricing, and real estate has emerged as a very valuable asset class. In earlier times, corporates viewed their real estate holdings as expenditures, since reaping returns on these holdings took a very long time.

Today, corporate real estate holdings in India have emerged as a dynamic asset class ? dynamic enough to warrant the creation of strategy around these assets. With the state of the economy and the resultant liquidity issues being what they are, many of the more stressed corporates are looking at strategizing, optimizing, rationalizing or monetizing their real estate.

Real estate corporate finance is a industry vertical which views and addresses the servicing of such corporates from a strategic business perspective. It transcends the basic corporate leasing model and opens up a timely new way in which to provide corporates with non-performing real estate holdings with real value in a changing world.

Ambar Maheshwari, Managing Director ? Corporate Finance, Jones Lang LaSalle India?

Source: http://www.joneslanglasalleblog.com/realestatecompass/real-estate/2012/01/role-real-estate-corporate-finance/

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