Wednesday, December 7, 2011

Prime-time religion: Catholics to air national TV ads

Catholics Come Home

Catholic Come Home's upcoming prime-time TV ads are aimed at getting inactive Catholics and others to return to church.

By James Eng, msnbc.com

Catholics Come Home wants Catholics to come back to church, and it?s using prime-time television ads to get across the message.

The nonprofit lay organization is partnering with dioceses across the country to launch a major, national ?evangelization? campaign whose main component is nearly $4 million in network TV ads that will air across the country Dec. 16 to Jan. 8.

It?s the first such national TV ad campaign ever for the Catholic Church, says Tom Peterson, president of Roswell, Ga.-based Catholics Come Home.?The goal is to reach out?not only to inactive Catholics, but also to?people who have never belonged to a?faith or who may want to consider switching religions.

?Ads will air more than 400 times during the three-week period on major networks like CBS and NBC and cable stations like TNT and CNN inviting viewers to take a look at the church and to ?come home? during the holidays and New Year?s,? Peterson told msnbc.com on Tuesday.

The 30- and 60-second commercials will air in English and Spanish on major networks in every diocese, according to The Wall Street Journal.

Peterson said 250 million viewers in more than 10,000 cities and every diocese will be exposed to the ads.

?In the past, Catholics Come Home has aired evangelization ads in regional markets like Seattle, Omaha, Neb., and Providence, R.I. , and a few hundred thousand people ?returned? to the church as a result, Peterson said.

The goal of the national ad campaign is to bring as many as 1 million people back to the Catholic faith, he said.

Mormon campaign
It?s not the first time religious denominations have taken to the airwaves to promote their faith.

The Mormon Church, which has nearly 6 million members in the U.S., last year launched a multimillion-dollar television, billboard and Internet advertising campaign called ?I?m a Mormon.? The campaign, which was recently expanded to 21 media markets, features profiles of Mormons from various walks of life. Its goal is to educate the public and dispel myths about one of the fastest-growing religions in the world, church officials say. They?say the timing of the expansion doesn?t have anything to do with the fact that two Mormons are running for president: Mitt Romney and John Huntsman.

Atheist display: Skeleton?Santa nailed to a cross

About 65 million people identify themselves as Catholic in the U.S., making it the single largest denomination in America. But according to a recent Center for Applied Research in the Apostolate?poll, only 33?percent of U.S. Catholics attend weekly Mass, Peterson noted.?That means 42.7 million, or two-thirds, of U.S. Catholics are not going to Mass.

That's a sizable audience of potential church-goers to be tapped.

Peterson notes that studies have shown the average American spends 38 hours per week consuming media, with TV and Internet being the top two choices, so it makes sense to reach out to them via television.
?
?Companies like Coca Cola, Microsoft, IBM are using advertising communication to promote a product. It makes sense for faithful Christians and Catholics? to use modern media to promote the most important thing in world, and that is faith in Jesus Christ.?

More news and features from msnbc.com:

Source: http://usnews.msnbc.msn.com/_news/2011/12/06/9252624-prime-time-religion-catholics-to-air-national-tv-ads

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Tuesday, December 6, 2011

Sandusky lawyer: Ready to question alleged victims

FILE - In this Nov. 5, 2011 file photo provided by the Pennsylvania Office of Attorney General, former Penn State football defensive coordinator Gerald "Jerry" Sandusky, center, walks to the office of Centre County Magisterial District Judge Leslie A. Dutchcot while being escorted by Pennsylvania State Police and Attorney General's Office officials in State College, Pa. The criminal defense for Sandusky, expected in a State College courtroom Dec. 6 to face charges he sexually abused boys over many years, will have to rebut a 23-page grand jury report that portrayed him as man who preyed on vulnerable children he lured with gifts and the prestige of his connection with Penn State University. (AP Photo/Pennsylvania Office of Attorney General via Commonwealth Media Services, File)

FILE - In this Nov. 5, 2011 file photo provided by the Pennsylvania Office of Attorney General, former Penn State football defensive coordinator Gerald "Jerry" Sandusky, center, walks to the office of Centre County Magisterial District Judge Leslie A. Dutchcot while being escorted by Pennsylvania State Police and Attorney General's Office officials in State College, Pa. The criminal defense for Sandusky, expected in a State College courtroom Dec. 6 to face charges he sexually abused boys over many years, will have to rebut a 23-page grand jury report that portrayed him as man who preyed on vulnerable children he lured with gifts and the prestige of his connection with Penn State University. (AP Photo/Pennsylvania Office of Attorney General via Commonwealth Media Services, File)

(AP) ? Jerry Sandusky's lawyer said he's looking forward to questioning the witnesses against his client ? including any alleged victims who testify at next week's preliminary hearing.

"Although the preliminary hearing is not a trial, but simply a probable cause proceeding ... we will, for the very first time, have the opportunity to face Jerry's accusers and question them under oath about their allegations," Joe Amendola said in a statement released Monday.

"We look forward to this opportunity."

At least one alleged victim plans to testify at the Dec. 13 preliminary hearing, according to his attorneys.

Sandusky has been charged with 40 counts of child sex abuse stemming from a grand jury report released last month that alleged the former Penn State football coach had illicit contact with eight young boys over a 15-year span.

In interviews, Sandusky has denied sexually assaulting children but has acknowledged showering with and embracing boys.

Some of the alleged abuse happened on Penn State's campus, including one incident the grand jury said was witnessed by then-graduate assistant Mike McQueary, now an assistant coach. That incident wasn't immediately brought to the attention of authorities even though high-level people at Penn State apparently knew about it.

The scandal has resulted in the ousting of school President Graham Spanier and longtime coach Joe Paterno, and has brought shame to one of college football's legendary programs. Athletic Director Tim Curley has been placed on administrative leave, and Vice President Gary Schultz, who was in charge of the university's police department, has stepped down.

Schultz and Curley are charged with lying to the grand jury and failure to report to police. They maintain their innocence.

Prosecutors allege Sandusky met the victims through The Second Mile, a charity he founded in 1977 to help at-risk children.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/347875155d53465d95cec892aeb06419/Article_2011-12-06-Penn%20State-Abuse/id-42235496beac4743ba2f05757f3e6af3

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Protesters accuse Putin's party of rigging vote

Russian opposition members listen during a rally in Moscow, Russia, Monday, Dec. 5, 2011. Several thousand people have protested in Moscow against Prime Minister Vladimir Putin and his party, which won the largest share of a parliamentary election that observers said was rigged. It was perhaps the largest opposition rally in years and ended with police detaining some of the activists. A group of several hundred then marched toward the Central Elections Commission near the Kremlin, but were stopped by riot police and taken away in buses. Estimates of the number of protesters Monday night ranged from 5,000 to 10,000. They chanted "Russia without Putin." (AP Photo/Ivan Sekretarev)

Russian opposition members listen during a rally in Moscow, Russia, Monday, Dec. 5, 2011. Several thousand people have protested in Moscow against Prime Minister Vladimir Putin and his party, which won the largest share of a parliamentary election that observers said was rigged. It was perhaps the largest opposition rally in years and ended with police detaining some of the activists. A group of several hundred then marched toward the Central Elections Commission near the Kremlin, but were stopped by riot police and taken away in buses. Estimates of the number of protesters Monday night ranged from 5,000 to 10,000. They chanted "Russia without Putin." (AP Photo/Ivan Sekretarev)

People wave the Russian flag and hold posters reading "This election is farce!" and "Give the country choice back" during an opposition rally in Moscow, Russia, Monday, Dec. 5, 2011. Several thousand people have protested in Moscow against Prime Minister Vladimir Putin and his party, which won the largest share of a parliamentary election that observers said was rigged. It was perhaps the largest opposition rally in years and ended with police detaining some of the activists. A group of several hundred then marched toward the Central Elections Commission near the Kremlin, but were stopped by riot police and taken away in buses. Estimates of the number of protesters Monday night ranged from 5,000 to 10,000. They chanted "Russia without Putin." (AP Photo/Ivan Sekretarev)

Russian police officers detain an opposition member after he and other members marched along one of the central streets in downtown Moscow, Russia, Monday, Dec. 5, 2011. Several thousand people have protested in Moscow against Prime Minister Vladimir Putin and his party, which won the largest share of a parliamentary election that observers said was rigged. A group of several hundred then marched toward the Central Elections Commission near the Kremlin, but were stopped by riot police and taken away in buses. (AP Photo/Ivan Sekretarev)

Russian police officers detain an opposition members after they marched along one of the central streets in downtown Moscow, Russia, Monday, Dec. 5, 2011. Several thousand people have protested in Moscow against Prime Minister Vladimir Putin and his party, which won the largest share of a parliamentary election that observers said was rigged. A group of several hundred then marched toward the Central Elections Commission near the Kremlin, but were stopped by riot police and taken away in buses. (AP Photo/Ivan Sekretarev)

Russian police officers detain an opposition member after he and other members marched along one of the central streets in downtown Moscow, Russia, Monday, Dec. 5, 2011. Several thousand people have protested in Moscow against Prime Minister Vladimir Putin and his party, which won the largest share of a parliamentary election that observers said was rigged. A group of several hundred then marched toward the Central Elections Commission near the Kremlin, but were stopped by riot police and taken away in buses. (AP Photo/Ivan Sekretarev)

(AP) ? Several thousand protesters took to the streets Monday night and accused Prime Minister Vladimir Putin's party of rigging this weekend's parliamentary election in which it won the largest share of the seats.

It was perhaps the biggest opposition rally in years and ended with police detaining about 300 activists. A group of several hundred marched toward the Central Elections Commission near the Kremlin, but were stopped by riot police and taken away in buses.

Estimates of the number of protesters ranged from 5,000 to 10,000. They chanted "Russia without Putin" and accused his United Russia party of stealing votes.

In St. Petersburg, police detained about 120 protesters.

United Russia won about 50 percent of Sunday's vote, a result that opposition politicians and election monitors said was inflated because of ballot-box stuffing and other vote fraud. It was a significant drop from the last election, when the party took 64 percent.

Pragmatically, the loss of seats in the State Duma appears to mean little because two of the three other parties winning seats have been reliable supporters of government legislation.

Nevertheless, it was a substantial symbolic blow to a party that had become virtually indistinguishable from the state itself.

The result has also energized the opposition and poses a humbling challenge to Putin, the country's dominant figure, in his drive to return to the presidency.

Putin, who became prime minister in 2008 because of presidential term limits, will run for a third term in March, and some opposition leaders saw the parliamentary election as a game-changer for what had been presumed to be his easy stroll back to the Kremlin.

More than 400 Communist Party supporters also gathered Monday to express their indignation over the election, which some called the dirtiest in modern Russian history. The Communists finished second with about 20 percent of the vote.

"Even compared to the 2007 elections, violations by the authorities and the government bodies that actually control the work of all election organizations at all levels, from local to central, were so obvious and so brazen," said Yevgeny Dorovin, a member of the party's central committee.

Putin appeared subdued and glum even as he insisted at a Cabinet meeting Monday that the result "gives United Russia the possibility to work calmly and smoothly."

Although the sharp decline for United Russia could lead Putin and the party to try to portray the election as genuinely democratic, the wide reports of violations have undermined that attempt at spin.

Boris Nemtsov, a prominent figure among Russia's beleaguered liberal opposition, declared that the vote spelled the end of Putin's "honeymoon" with the nation and predicted that his rule will soon "collapse like a house of cards."

"He needs to hold an honest presidential election and allow opposition candidates to register for the race, if he doesn't want to be booed from Kamchatka to Kaliningrad," Nemtsov said on Ekho Moskvy radio.

Many Russians have come to despise United Russia, seeing it as the engine of endemic corruption. The balloting showed voters that they have power despite what election monitors called a dishonest count.

"Yesterday, it was proven by these voters that not everything was fixed, that the result really matters," said Tiny Kox of the Council of Europe's Parliamentary Assembly, part of an international election observer mission.

Other analysts suggested the vote was a wake-up call to Putin that he had lost touch with the country. In the early period of his presidency, Putin's appeal came largely from his man-of-the-people image: candid, decisive and without ostentatious tastes.

He seemed to lose some of the common touch, appearing in well-staged but increasingly preposterous heroic photo opportunities ? hunting a whale with a crossbow, fishing while bare-chested, and purportedly discovering ancient Greek artifacts while scuba diving. And Russians grew angry at his apparent disregard ? and even encouragement ? of the country's corruption and massive income gap.

"People want Putin to go back to what he was in his first term ? decisive, dynamic, tough on oligarchs and sensitive to the agenda formed by society," said Sergei Markov, a prominent United Russia Duma member.

The vote "was a normal reaction of the population to the worsening social situation," former Kremlin-connected political analyst Gleb Pavlovsky was quoted as saying by the Interfax news agency.

Only seven parties were allowed to field candidates for parliament this year, while the most vocal opposition groups were barred from the race. International monitors said the election administration lacked independence, most media were biased and state authorities interfered unduly at different levels.

"To me, this election was like a game in which only some players are allowed to compete," said Heidi Tagliavini, the head of the observer mission of the Organization for Security and Cooperation in Europe.

Of the 150 polling stations where the counting was observed, "34 were assessed to be very bad," Tagliavini said.

U.S. Secretary of State Hillary Rodham Clinton said Washington has "serious concerns" about the elections.

"Russian voters deserve a full investigation of all credible reports of electoral fraud and manipulation, and we hope in particular that the Russian authorities will take action" on reports that come forward, Clinton said.

Other than the Communist Party, the socialist Just Russia and the Liberal Democratic Party led by mercurial nationalist Vladimir Zhirinovsky are also expected to increase their representation in the Duma; both have generally voted with United Russia, and the Communists pose only token opposition.

Two liberal parties were in the running, but neither got the 7 percent of the national vote needed to win seats. Nemtsov's People's Freedom Party, one of the most prominent liberal parties, was denied participation for alleged violations in the required 45,000 signatures the party had submitted with its registration application.

About 60 percent of Russia's 110 million registered voters cast ballots, down from 64 percent four years ago.

Social media were flooded with messages reporting violations. Many people reported seeing buses deliver groups of people to polling stations, with some of the buses carrying young men who looked like football fans, who often are associated with violent nationalism.

Russia's only independent election monitoring group, Golos, which is funded by U.S. and European grants, has come under heavy official pressure in the past week. Golos' website was incapacitated Sunday by hackers, and its director Lilya Shibanova and her deputy had their cellphone numbers, email and social media accounts hacked.

___

Associated Press writers Vladimir Isachenkov, Nataliya Vasilyeva and Lynn Berry in Moscow contributed to this report.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/3d281c11a96b4ad082fe88aa0db04305/Article_2011-12-05-EU-Russia-Election/id-a536ce4c036b412e89568a094f8a6f36

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Monday, December 5, 2011

Charlie Sheen's ex-wife arrested in Aspen (AP)

ASPEN, Colo. ? Police in Aspen say Charlie Sheen's ex-wife, Brooke Mueller, has been arrested in Aspen on suspicion of third-degree assault and cocaine possession with intent to distribute.

Authorities say officers arrested Mueller early Saturday at a nightclub after a woman reported being assault by her.

Mueller posted $11,000 bond and was released from custody. She's scheduled in court Dec. 19. Aspen police spokeswoman Blair Weyer says additional details are not immediately available.

Her attorney, Yale Galanter, had no comment.

Sheen and Mueller divorced earlier this year, citing Christmas Day 2009 as the day of their breakup. Charlie Sheen was arrested in Aspen on that day on suspicion of assaulting Mueller. He completed his probation in that case last November.

Source: http://us.rd.yahoo.com/dailynews/rss/celebrity/*http%3A//news.yahoo.com/s/ap/20111203/ap_on_en_ot/us_sheen_s_ex_wife_arrest

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Walk the plank at a pirate festival

The annual Pirates in Paradise festival in Key West, Fla., celebrates the region's colorful seafaring history -- including a walk off the plank.

By Rob Lovitt, msnbc.com contributor

Ahoy there, buckoes and wenches: If it?s good times and treasure ye seek,?get thee to Key West, Fla., this weekend for the closing days of the city?s Pirates in Paradise festival.

And if you really want to make a splash while you?re there, be sure to don your best pirate regalia, prepare a good yarn and join the ranks of the ?condemned? as they compete in the National Walk the Plank Championships, Overhead Bin?s Weird Festival of the Month for December.

Now in its seventh year, the competition is the brainchild of Captain Robb ?Hurricane? Zerr, who leads a buccaneering band of entertainers called Pyrates of the Coast. ?Walking the plank is such a part of pirate lore so we wanted to open it up to the public,? he said. ?Here, anybody can enter, go for the jump and try to win the glory.?

The competition, which takes place this Saturday, is held on board the Wolf, a 74-foot topsail schooner outfitted with an eight-foot wooden plank. Competitors are assigned a crime, prompted to plead for their lives and scored on a variety of criteria before receiving their inevitable sentence.

In addition to being judged on the quality of their costumes (pirate-themed or otherwise) and the size of their splash (butt and belly flops highly encouraged), competitors are judged on how well they conduct themselves on their way to Davy Jones? Locker.

As the rules state, ?Criteria covers plank approach, bravado, arrogance, guile, bribery, form on the plank and poise before the plunge,? with extra Plea Points awarded for ?groveling, cries of mercy, pleas of innocence, invocations [and] curses.?

?If they get too long-winded, I might jab my sword at them,? said Zerr. ?My sword couldn?t cut water so I just point it at them and they jump.?

Not surprisingly, perhaps, nobody escapes their date with the briny deep. ?You may have a good story about why you deserve to live but in you go anyway,? said Klaus Chroszielewski, who won last year?s event after taking the plunge as King Neptune, complete with crown, trident and flippers.

Likewise, nobody really goes to Davy Jones? Locker ??all contestants get fished out of the drink and live to tell the tale. If that sounds appealing, Chroszielewski offers a little advice: ?If you?re going to be in Key West, you?re going to see some unusual stuff anyway so you might as well do something original.?

Rob Lovitt is a longtime travel writer who still believes the journey is as important as the destination. Follow him at Twitter.

More on Overhead Bin

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Source: http://overheadbin.msnbc.msn.com/_news/2011/12/01/9144158-avast-take-the-plunge-at-the-walk-the-plank-championships

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Congo opposition rejects election commission tally (Reuters)

KINSHASA (Reuters) ? Congolese opposition parties rejected on Saturday partial results released by the electoral commission giving incumbent President Joseph Kabila an early lead in the vote count from the November 28 presidential election.

In a joint statement signed by major parties, including that of veteran opposition leader Etienne Tshisekedi, the opposition cited irregularities and said the electoral commission was "psychologically preparing the population for fraud."

"As a consequence, we reject these partial results and consider them null and void," the statement read out by Vital Kamerhe said.

It added that the manner the commission was releasing the results was illegal.

The opposition called for mediation by other African leaders, but rejected forming a government of national unity with Kabila.

Partial results released by the electoral commission (CENI) showed Kabila leading with 3,275,125 votes, while Tshisekedi trailed with 2,233,447 votes, based on 33.3 percent of polling stations counted.

The tally included virtually no results from the capital Kinshasa, where Tshisekedi is confident of strong support. The percentage of votes counted varied widely by province.

UDPS Secretary General Jacquemain Shabani Lukoo told Reuters that the government risked sparking violence over the alleged massive fraud.

"If they carry on like this there will be trouble, that's for sure, we will not let this lie," he told Reuters.

The commission said it was forced to released the partial results after hackers managed to publish fake numbers on its official website that appeared to give Tshisekedi a strong lead.

(Reporting by David Lewis and Jonny Hogg; Writing by Bate Felix; Editing by Michael Roddy)

Source: http://us.rd.yahoo.com/dailynews/rss/world/*http%3A//news.yahoo.com/s/nm/20111203/wl_nm/us_congo_democratic_election

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Sunday, December 4, 2011

Video: The Corzine Subpoena

Discussing whether the House action against Jon Corzine is a bit premature, with Ron Geffner, Sadis & Goldberg; Paul Pelletier, Mintz, Levin; and CNBC's Eamon Javers

Related Links:

Business & financial news headlines from msnbc.com

Source: http://video.msnbc.msn.com/cnbc/45529265/

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Hundreds strike at Singapore-owned plant in China (Reuters)

SHANGHAI (Reuters) ? More than 200 workers at a Singapore-owned electronics plant in Shanghai remained on strike for a third day on Friday to denounce what they said was a management plan for mass layoffs, the latest outbreak of labor unrest in China.

Blue-jacketed workers, chanting slogans and holding aloft banners demanding management explanations, blocked the entrance to the factory owned by Hi-P International in the Pudong district of China's commercial hub.

Hi-P is an electronics contract manufacturer whose customers include Apple and BlackBerry maker Research in Motion, according to media and analyst reports.

The workers first stopped work on Wednesday, denouncing what they said was a plan to relocate the plant to a Shanghai suburb and demanding compensation for layoffs. Workers said the company planned to hire new staff.

Hi-P International denied that it had fired workers.

"The company is currently in discussion with the workers with the support of the authorities and the labor union," the company said in a statement to the Singapore stock exchange. "The matter is expected to be resolved shortly."

It added that "there is no material impact" to the company's production due to the strike.

Strikers told Reuters they had refused to sign agreements stipulating that their jobs would be terminated by the end of the year without compensation. They said the plant employed more than 1,500 workers, most of them women.

Dozens of police officers kept watch on the workers. Workers said police had beaten up some protesters on Wednesday. Calls to Shanghai's public security bureau went unanswered.

"Give me justice!" workers shouted. Banners held up by strikers included: "We want an explanation, we want the truth."

"They are moving the factory but I don't want to go there," said one worker surnamed Zhang, 28. "Now they just don't want to compensate us. They do not want to even give us a single cent."

Workers planned to press their stoppage through the weekend.

Hi-P International's shares had fallen 2.5 percent on Friday in late afternoon trade but recovered to close down 0.8 percent -- compared to a 0.4 percent rise for Singapore's Straits Times benchmark index.

Strikes this year have pitted workers frustrated about rising costs against companies struggling with an external economic slowdown. The ruling Communist Party fears public discontent could erode its authority and alarm investors.

In factory towns across the export powerhouse in the Pearl River Delta, strikes have been triggered by a cycle of slowing orders from the West and pressure for pay rises.

Thousands of striking workers have crippled production for Western brands at shoe and bra factories in Guangdong province and watch, sport and electronics plants to the south and west.

Stoppages disrupted production last year for automakers, including Toyota and Honda, exposing the demands of 150 million migrant workers. Many provinces boosted minimum wages.

But businesses struggling with razor-thin profit margins, may have difficulty increasing pay this year.

(Additional reporting by Charmian Kok and Kevin Lim in Singapore and Melanie Lee in Shanghai, Writing by Sui-Lee Wee; Editing by Ken Wills and Ron Popeski)

Source: http://us.rd.yahoo.com/dailynews/rss/asia/*http%3A//news.yahoo.com/s/nm/20111202/wl_nm/us_china_strike

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Saturday, December 3, 2011

[OOC] As the Pendulum Swings

Forum rules
This forum is for OOC discussion about existing roleplays.

Please post all "Players Wanted" threads in the Roleplayers Wanted forum!

This topic is an Out Of Character part of the roleplay, ?As the Pendulum Swings?. Anything posted here will also show up there.

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Forum for completely Out of Character (OOC) discussion, based around whatever is happening In Character (IC). Discuss plans, storylines, and events; Recruit for your roleplaying game, or find a GM for your playergroup.


Lulz at the thing before you type now. But anyway, glad to see another decent looking zombie thing pop up. Going to apply and see how it goes.

I had a question though, I'll end up submitting what I have when I'm done anyway but will we be starting off separately or together? That highly determines what I've been doing the past 6 days of infection.

User avatar
Quantumlegacy
Member for 1 years


Sounds good man. Look forward to your character.

I should adress that now, I suppose. You'll most likely be split up, depending on the amount of players I manage to get.

User avatar
NotAFlyingToy
Global Moderator
Member for 2 years



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Elderly suicide kit maker pleads guilty to tax offense (Reuters)

SAN DIEGO (Reuters) ? A great-grandmother selling do-it-yourself asphyxiation kits from her home in California pleaded guilty on Friday to a misdemeanor tax-related offense stemming from an investigation of her mail-order business.

Sharlotte Hydorn, a retired public school science teacher in her 90s, pleaded guilty to one count of failing to file a federal income tax return for 2010, a year in which investigators said at least five customers used her kits to take their own lives.

(Reporting by Marty Graham; Writing by Steve Gorman; Editing by Cynthia Johnston)

Source: http://us.rd.yahoo.com/dailynews/rss/crime/*http%3A//news.yahoo.com/s/nm/20111203/us_nm/us_suicide_kits_california

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Friday, December 2, 2011

Wall St. rallies on central banks' help for Europe (Reuters)

NEW YORK (Reuters) ? Stocks surged on Wednesday after major central banks agreed to make cheaper dollar loans for struggling European banks to prevent the euro-zone debt woes from turning into a full-blown credit crisis.

The Dow posted its best day since March 2009 after the Federal Reserve, the European Central Bank and other major central banks stepped in to head off escalating funding pressures that threaten the key arteries of the world's financial system.

The S&P 500 scored its best daily percentage gain since August.

The central banks' liquidity move touched off a buying frenzy in financial shares. The S&P financial sector index gained 6.6 percent, with Bank of America the most actively traded stock. The stock jumped 7.3 percent to $5.44 on more than 420 million shares traded.

The drama in Europe kept the U.S. stock market on a roller-coaster ride throughout the month. For November, the S&P ended down just 0.5 percent, but the month was marked by sharp daily swings.

"You don't have to fix everything, you have to be on a path towards fixing things," said Tobias Levkovich, chief U.S. equity strategist at Citigroup in New York.

"Markets will reward you for the efforts you are making as long as you are moving in the right direction. It's the carrot and the stick; you get rewarded when you do the right thing, and you get punished when you do the wrong thing."

The Dow Jones industrial average shot up 490.05 points, or 4.24 percent, to end at 12,045.68. The Standard & Poor's 500 Index jumped 51.77 points, or 4.33 percent, to 1,246.96. The Nasdaq Composite Index soared 104.83 points, or 4.17 percent, to close at 2,620.34.

The Dow scored its largest daily gain -- in terms of points and percentage -- since March 23, 2009.

The S&P 500 posted its best daily percentage advance since August 11.

For the month, the Dow gained 0.8 percent, while the Nasdaq slid 2.4 percent.

Other economically sensitive sectors, including energy, materials and industrials, also were strong performers for the day.

Copper and oil futures rose sharply, while the S&P materials sector index jumped 5.9 percent.

The central banks' actions were intended to ensure that European banks, facing a credit crunch, have enough funding amid the euro zone's worsening sovereign debt crisis.

The moves followed an unexpected cut in bank reserve requirements in China, intended to boost an economy running at its weakest pace since 2009.

Among the banks, shares of JPMorgan Chase & Co gained 8.4 percent to $30.97, its biggest daily percentage gain since May 2009.

The gains in financial shares came despite Standard & Poor's move to cut the credit ratings of 15 big banks, mostly in Europe and the United States, late on Tuesday.

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

The day's volume was high, with nearly 10 billion shares changing hands during the day on U.S. exchanges compared with the daily average of 7.96 billion shares.

Advancers beat decliners on the NYSE by nearly 7 to 1 and on the Nasdaq, by about 5 to 1.

(Reporting by Caroline Valetkevitch; Additional reporting by Chuck Mikolajczak and Rodrigo Campos; Editing by Jan Paschal)

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

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Monday, November 28, 2011

Global supermarkets wary of fine print on India invite (Reuters)

NEW DELHI (Reuters) ? Global supermarket chains welcomed a long-awaited invitation from India to invest in the country's $450 billion retail market, but they fear the small print may keep a lid on investment in the short term.

The government on Thursday approved 51 percent foreign direct investment in supermarkets, paving the way for firms such as Wal-Mart Stores Inc, Tesco and Carrefour to enter one of the world's largest untapped markets.

Shares in Indian retailers jumped -- bucking the weaker stock market trend -- in anticipation of interest from those big foreign retailers.

The move may breathe new life into the government of Prime Minister Manmohan Singh, who ushered in free market reforms 20 years ago but has been bogged down by corruption scandals and was starting to be seen as a lame duck.

As well as appealing to India's burgeoning urban middle class the reform will draw in much-needed new investment to a sputtering economy. Policymakers say spending on cold-storage and warehousing will ease supply-side pressures that have driven inflation close to a double-digit clip.

"It's important not only for raising overall growth, but also for containing inflation and improving the quality of life for over 50 percent of the population," said central bank Governor Duvvuri Subbarao.

Investment could exceed $5 billion in the next 5-7 years as hundreds of hypermarkets are opened, said Vijay Karwal, head of retail at the Royal Bank of Scotland.

"There may be a degree of 'catch up' with foreign flows into India retail possibly starting to match, if not exceed, those into China as development picks up pace," he said.

The move carries risk for Prime Minister Singh, whose party must contest five state elections next year. It is opposed by millions of small shop owners who fear for their livelihoods, and prompted an uproar in India's parliament, which was forced to close until Monday.

Some politicians threatened extreme action to prevent supermarkets opening.

"If Wal-Mart tries to open its mall anywhere, I will burn it myself," said Uma Bharti, a former state chief minister from

the opposition Bharatiya Janata Party (BJP), local media reported.

An India-wide group representing small traders said it was planning protests for next week.

"They should have worked on some kind of protectionist mechanism for smaller traders," said Praveen Khandelwa, the head of the confederation of all India traders.

RIDERS

To appease its opponents, the government insisted foreign retailers source almost a third of their produce from small industries, invest a minimum of $100 million in India and spend half of that on "back end" infrastructure.

An official at one major international retailer said the company was concerned about the numbers the government had mentioned.

"Some of the conditions look quite stringent. The investment in particular -- it's all quite big money. We'd need to know the details, and how that would be accounted for," the official said on condition of anonymity.

Foreign stores will only be permitted in cities of more than 1 million people, and individual states will decide whether to allow the global giants on to their patch. [ID:nD8E7LL01S]

That could, for example, exclude investor-favorite states like Gujarat, which is run by the Hindu nationalist BJP that opposes new foreign supermarkets.

Sharma said new investment would create 10 million jobs in the next three years and would not affect small shops, a claim scorned by parties on both the left and right who predict that millions of jobs will be lost.

"We are sitting on a time bomb in terms of employment," said economist Jayati Ghosh. She said India should upgrade public and cooperative supply infrastructure, not rely on corporations.

The head of Wal-Mart's local cash-and-carry joint venture praised the move, but also struck a note of caution.

"We will need to study the conditions and the finer details of the new policy and the impact that it will have on our ability to do business in India," said Raj Jain, CEO of Bharti Wal-Mart.

TOUGH GOING

Domestic retail chains have operated in India for years but have struggled to expand due to funding difficulties, a lack of expertise and poor roads and cold storage facilities.

If political opposition mounts, foreign firms could find the going tough.

India's biggest listed company, Reliance Industries, was forced to backtrack on plans in 2007 to open Western-style supermarkets in the state of Uttar Pradesh after huge protests from small traders and political parties.

Bijou Kurien, a senior executive at Reliance Retail, said the mood had changed.

"The regulatory and non-regulatory pressures in India are the way of life," he said. "So any person running a business in India has to be able to figure out how to steer their way through all the obstacles that can be in their path."

He said the back-end and sourcing rules may stop big-box electronics stores from coming into India for now, but said the rules would likely soften in the medium term.

The conditions could also deter smaller international retail chains, said Himanshu Pal, global data manager at consultants Kantar Retail. However he said India should appeal to budget chains.

"The Indian shopper is at the moment starved of a discounted, value product offer. A Lidl or an Aldi could be very successful in India."

Thomas Varghese, CEO of another Indian retailer, Aditya Birla, said the power given to states could be a short-term hurdle, but he predicted most would say yes to supermarkets.

"It most definitely will have an impact and reduce the number of places where foreign retailers can set up shop, but it will still not reduce the interest because 51 cities have a million-plus population," he said.

In the past, big-ticket reforms have been held back by the devil in the detail.

In 2008, the government passed the U.S. civilian nuclear deal aimed at opening up India's nuclear power market to foreign players, hailed as the cornerstone of India's warming ties with the United States.

But investments have since languished due to stringent accident liability clauses that U.S. companies say make it too risky to invest.

(Additional reporting by Henry Foy and Nandita Bose in Mumbai and Mark Potter in London; Writing by Frank Jack Daniel; Editing by John Chalmers and Nick Macfie)

Source: http://us.rd.yahoo.com/dailynews/rss/asia/*http%3A//news.yahoo.com/s/nm/20111125/bs_nm/us_india_retailers

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