Saturday, December 31, 2011

Mortgage debt cut by ?8.6bn but Bank of England sees little sign of rush by households to reduce debts

It was the 14th successive quarterly net injection of housing equity but was lower than the record ?9.6bn injection in the second quarter according to the Bank of England figures.

Before the financial crisis, homeowners were net withdrawers of equity, which supported consumer spending and therefore growth. Housing equity withdrawal was consistent between 1997 and the first quarter of 2008, and included ?12.5bn in the fourth quarter of 2006.

However, falling house prices since then have squeezed the level of equity in the UK's housing stock and lenders have become increasingly cautious. On the flip side, households have become more wary about spending because of the weak economic outlook.

"On the face of it, the further substantial net injection of housing equity in the third quarter suggests that there is a strong desire and perceived need of many people to improve their personal financial balance sheets given high debt levels and serious concerns over the economic situation and jobs," said Howard Archer, chief UK economist at IHS Global Insight.

However, the Bank played down the notion that homeowners were actively choosing to reduce mortgage debt.

"The fall in housing equity withdrawal since the financial crisis is likely to reflect a fall in the number of housing transactions, with little sign that households in aggregate are making an active effort to pay down debt more quickly than in the past," it said in a statement released with the data.

Source: http://telegraph.feedsportal.com/c/32726/f/568312/s/1b6481ef/l/0L0Stelegraph0O0Cfinance0Ceconomics0C89845530CMortgage0Edebt0Ecut0Eby0E80B6bn0Ebut0EBank0Eof0EEngland0Esees0Elittle0Esign0Eof0Erush0Eby0Ehouseholds0Eto0Ereduce0Edebts0Bhtml/story01.htm

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NewsDaily: Analysis: Manning's legal strategy could lead to plea deal

Analysis: Manning's legal strategy could lead to plea deal


By Andrew LongstrethPosted 2011/12/28 at 7:23 pm EST

NEW YORK, Dec. 28, 2011 (Reuters) ? While it may appear that the government's document-leaking case against U.S. Army intelligence analyst Bradley Manning is strong, the defense could have some surprising leverage with prosecutors and force plea negotiations.

Army Pfc. Bradley Manning (C) is escorted by military police from the courthouse after the sixth day of his Article 32 hearing at Fort Meade, Maryland, December 21, 2011. REUTERS/Benjamin Myers


Prosecutors may in particular find it difficult to prove the 24-year-old Manning intended to provide the information to enemies of the United States such as al Qaeda, and that the information was helpful to them, legal experts said.

Manning faces 22 charges of participating in the largest leak of classified government documents in history, including the accusation that he had unauthorized possession of information related to national defense and that he stole records belonging to the United States.

At a hearing that concluded last week, military prosecutors presented evidence that Manning downloaded thousands of classified or confidential files that later made their way to the WikiLeaks website. In his closing summation at the hearing, Captain Ashden Fein, the lead prosecutor, said Manning was a well-trained soldier who "used that training to defy our trust."

"He gave the enemies of the United States unfettered access to these documents," Fein said.

Manning's case is being reviewed by investigating officer Lieutenant Colonel Paul Almanza, who will make a recommendation by January 16 on whether or not the military should court-martial Manning.

A court-martial, which could be a few months away, is not much different from a civilian criminal trial. The charges against the accused in a court-martial must be proven beyond a reasonable doubt, just like in civilian court.

The biggest difference is that jurors in a court-martial consist exclusively of members of the military. There were about

1,900 Army courts-martial in fiscal year 2010 and about 60 acquittals, according to U.S. military justice statistics.

If convicted of all counts, Manning would face a maximum punishment of life imprisonment, reduction in rank to the lowest enlisted pay grade, forfeiture of all pay and allowances and a dishonorable discharge, the Army says. The charge of aiding the enemy is a capital offense, but the Army has indicated it will not seek the death penalty.

'SKY IS NOT FALLING'

Although legal observers agree the government's case is a good one, some speculate that prosecutors could have a tough time proving the most serious charge that Manning gave information to the enemy.

During the preliminary hearing, Manning's lawyer, David Coombs, sought to demonstrate that the audience for the leaked information was not foes of the United States, but the American people, and that the country was not put in any danger due to the leaks.

"The sky is not falling, the sky has not fallen and the sky will not fall," said Coombs.

Some military law experts also question whether the government will be able to prove that Manning intended the information to reach militant groups such as al Qaeda. Merely proving that he intended the information to be displayed on the WikiLeaks website may not be enough to convict him of that charge, said some experts.

It could also be difficult for the government to prove that the information was particularly valuable to al Qaeda, said Eugene Fidell, who teaches military law at Yale Law School.

"What is it that he has told al Qaeda indirectly that is of value to al Qaeda? Is everything that is hurtful to the United States in the eyes of the world of value to al Qaeda? I don't think so," Fidell said.

"If you can win one battle there and have the government say, 'Nah, that's not such a good idea we go forward on that charge,' then that's a windfall for the defense before the trial begins," Velloney said.

Coombs has signaled he also has some cards to play at any potential sentencing. At a court-martial, there are two stages -- one to determine culpability and the other to determine a sentence. During the sentencing stage, the defense can offer extenuating and mitigating circumstances that would justify a lighter sentence than sought by the government

Throughout the hearing to determine whether a court-martial is appropriate, Coombs attempted to portray Manning as emotionally unstable with gender-identity issues who should not have had access to sensitive government files.

Combs cited emails and memos showing that Manning's superiors were aware of his gender issues and his need for therapy. But no effective action was taken, Coombs argued. The same arguments about Manning's unit could be presented at any potential sentencing.

"They're going to air all the government's dirty laundry," said Velloney. "It potentially softens the government in any plea deal."

(Reporting by Andrew Longstreth; Editing by Peter Cooney)

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Source: http://www.newsdaily.com/stories/tre7bs00b-us-usa-defense-manning/

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Friday, December 30, 2011

Kid Cudi Pens Touching Letter to Dead Teen Fan

Kid Cudi took to his Tumblr on Monday to write a heartfelt letter to 18-year-old fan Ben Breedlove, who died on Christmas night from cardiac arrest after a lifelong struggle with hypertrophic cardiomyopathy, a genetic heart disease in which the heart muscle becomes abnormally thickened.

Source: http://www.ivillage.com/kid-cudi-letter-about-dead-fan-ben-breedlove/1-a-414444?dst=iv%3AiVillage%3Akid-cudi-letter-about-dead-fan-ben-breedlove-414444

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Cowboys Head Coach Jason Garrett on Giants

Q: Do you have an update on Tony Romo?

A: Tony was limited in practice. He still has swelling in his hand. He was able to grip the ball and throw it a little bit. He was limited and didn?t take all the reps that he would normally take.?

Q: Do you know if he will be able to play on Sunday?

A: I think he is making progress and we will see how he will respond to the work he got today. We hope that he will get more and more as the week progresses and be ready to play in the game. We will see.

?

Q: How much similarity do you expect to see from the Giants compared to when you played them a few weeks ago?

A: I think teams are who they are from a personnel standpoint and from a scheme standpoint but every week, there are some differences in terms of game planning and those sorts of things. Certainly when you play a team twice a year like you do your divisional opponents there is a lot of familiarity you have with each other and then there are some wrinkles that each team tries to provide in each area of their team. It is not unlike playing a team a second time every year, it just seems like it is a little bit closer. I think they are the same issues.?

?

Q: If Osi is back, what does that do in terms of you protecting Tony?

A: He is a great football player obviously and they have a number of defensive linemen who do a good job of pressuring the quarterback and defending the run. He is a part of that group and been a really good football player for a long time. Like the rest of those guys on their defensive front, we have to make sure that we run the ball well and that we protect well. He just adds to the challenge.

?

Q: What challenges does the Giants passing offense create for your defense?

A: They are very good on offense and a very good passing offense. I think it starts with the guys up front and the quarterback has a lot to do with it and they have a number of playmakers outside. They do a really good job with their scheme doing a really good job of making plays down the field. Like it is every week, you are going to get challenges in a lot of different areas and that is one of their areas of strength. Every week you try to pressure the quarterback and every week you try to cover the guys on the back end and that will be one of our challenges this week going up against these guys.

Q: How would you describe Hakeem Nicks?

A: I think he has great hands and I think physically, he has very large hands. He is able to make a lot of catches and seems like a guy who makes a lot of plays for them both underneath and down the field. I would say he catches the ball really well and is one of the best receivers in the league and a big challenge for us this week.

?

Q: What is the atmosphere around the team with this win-and-in game this week?

A: We are excited about the opportunity. There are a lot of teams that aren?t in the position that we are in. We played 15 weeks of football and got ourselves in the position to play for the NFC East title in the last game of the season against the Giants. That is an exciting thing for our football team. We have worked very hard to get here in this position, just like the Giants have. We are excited to go up there and see how we stack up. It will be a great challenge and they are a very good football team. We are excited about the chance to go do it.

?

Q: What is Felix Jones? status?

A: Felix was limited in practice today but we are hopeful that he can continue to progress as the week goes on. He did some work but didn?t do his normal number of reps but we will monitor that as the week progress and hope that he will be ready for the game.

?

Q: What is it like to work for Jerry Jones?

A: I think it is great and I think he is one of the great owners in the league. I think there is a tremendous amount of evidence that shows that. He wants to win and whenever you have an owner that wants to win, whether you?re a coach, player or anybody working for him, that is an exciting opportunity. He is very committed to winning and will do everything necessary to help us and that is a great feeling to have when we come to work. Our relationship has been outstanding for a lot of years and different capacities. I am excited about the opportunity to be his head coach.?

?

Q: What does the game against the Giants say about Felix Jones?

A: He has been a good player for us. If you guys have followed our team, he has been a dynamic player not only in the running game but also the passing game for us over the last three or so years. He got banged up earlier in the year and that gave DeMarco Murray a chance to play and he played really well. Felix did a good job of coming back and understanding the complimentary role he was going to play when DeMarco was the more featured back. He did a nice job in that role, a role that he had in the past. It didn?t surprise any of us that have been around him that when DeMarco got injured in the game, Felix just stepped up and was able to handle the bigger burden because he showed up for that game just like he has in the past.?

?

Q: Why has the Giants offense struggled in the past two weeks?

A: I just think those were two good defenses. We played both those teams and they play very good defense. They have a very good front and they do a good job in the back end on coverage. They challenge you in a lot of different ways. Having played Washington twice and having played the Jets early in the year, we know the challenges they present. The Giants are an outstanding offense and we understand what we are going up against going up there on Sunday night.

?

Q: Do you look at Eli Manning as an elite quarterback?

A: Absolutely, he is. I think individually, he has proven that and as the leader of that team he has proven that. He is an outstanding player and they do an outstanding job on offense. We understand the challenges he presents and that whole offensive team presents.

?

Q: How do you plan on defending Jason Pierre-Paul?

A: He is just a really good player. He is a big guy and he is very long. He is explosive and quick. He has a playmaker?s mentality and you see that when he plays the run and when he is rushing the passer. Again, it showed up in the kicking game when he made that big block at the end of the game. We definitely saw that on tape and we saw that out of him coming out of school a couple years ago. He is one of those types of players everybody was intrigued by and the Giants did a great job getting him. His role seems to have increased and he has done a really nice job taking advantage of the opportunity that he has gotten.

?

Q: How do you feel coming into a big game like this off last week?s performance?

A: It is certainly different because you always want to have all hands on deck and play your best football every week with every opportunity that you get. The situation was different last week, once the Giants won the game, the few guys that we had that were on the border and injured type guys, we just felt like in the best interest of our football team to rest those guys to get them ready for this week. I think we played hard in that game but not well enough. That game is behind us and we are pointing towards the Giants and looking forward to the opportunity.

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Source: http://www.giants.com/news-and-blogs/article-1/Cowboys-Head-Coach-Jason-Garrett-on-Giants/6aeceadb-4f0f-4249-b5c3-ff39b11b7974

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Wednesday, December 28, 2011

JewishJournal: Israel?s Mr. Basketball is also Mr. Goodwill http://t.co/rkPpHM1W

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Monday, December 26, 2011

TechTechMan: RT @Evanextreme: Everyone who got an iPhone 4S and loves it. You have mental problems. Good day sir.

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Everyone who got an iPhone 4S and loves it. You have mental problems. Good day sir. Evanextreme

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AL woman to discontinue tornado Facebook site

By JEFF MARTIN
Associated Press

ATLANTA (AP) - In the weeks and months after tornadoes tore through homes across the South, pictures and documents rained on yards hundreds of miles away.

An Alabama woman began collecting them in an online database, posting the cherished scraps of people's lives on Facebook so they could be identified and claimed by grateful families.

Now, eight months after the April tornadoes struck in Alabama, Georgia, Mississippi and Tennessee, Patty Bullion says she plans to discontinue the online database of pictures and documents.

She says she will leave Facebook page up for a couple more weeks, then take it down and focus on other things in her life. She said the items pictured are highly personal, and she doesn't think they should be online indefinitely.

Copyright 2011 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Source: http://www.wtvm.com/story/16394097/2011/12/26/ala-woman-to-discontinue-tornado-facebook-site

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Mexico makes huge meth precursor chemicals seizure

Mexico said Friday that it seized 229 metric tons of precursor chemicals used to make methamphetamine, the third such huge seizure this month at the Pacific port of Lazaro Cardenas, all of which were bound for a port in Guatemala.

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The seizure brings to more than 534 tons the amount of meth chemicals detected at the Mexican port in less than a month.

Authorities announced on Dec. 19 that they had found almost 100 metric tons of methylamine at Lazaro Cardenas, and earlier said that 205 tons of the chemical had been found there over several days in early December.

Experts familiar with meth production call it a huge amount of raw material, noting that under some production methods, precursor chemicals can yield about half their weight in uncut meth.

The Attorney General's Office said the most recent seizure was found in 1,600 drums, and had been shipped from Shanghai, China. All three shipments originated in China and were destined for Puerto Quetzal, Guatemala.

The office has not indicated which cartels may have been moving the chemicals, but U.S. officials have noted that the Sinaloa cartel, Mexico's most powerful, has moved into meth production on an industrial scale.

Sinaloa also has operations in Guatemala, and given recent busts by the Mexican army of huge meth processing facilities in Mexico, the gang may have decided to move some production to the Central American country.

Lazaro Cardenas is located in the western Michoacan state, which is dominated by the Knights Templar cartel and previously by the La Familia group.

However, a series of arrests, deaths and infighting may have weakened those gangs' ability to engage in massive meth production.

Also Friday, the attorney general's office in the Gulf coast state of Veracruz reported that it had found ten bodies in an area along the border with the neighboring state of Tamaulipas. The office said investigators were alerted to the bodies by a tip, and are working to identify them and the cause of death.

The area has been the scene of bloody battles between the Gulf and Zetas cartels.

Finally Friday, federal police captured Javier Mercado Guerrero, alias "El Indio," who allegedly led the operations of the Zetas drug cartel in the Veracruz city of Poza Rica and surrounding areas inland.

Police said Mercado Guerrero had served as a local police officer in 2010, and passed information to the Zetas.

Local police in Veracruz have become so corrupt that on Wednesday, the government decided to dissolve the entire police force in the state's largest city, also known as Veracruz, and sent the Navy in to patrol.

State spokeswoman Gina Dominguez said 800 police officers and 300 administrative employees were laid off. Dominguez said they can apply for jobs in a state police force, but must meet stricter standards.

Copyright 2011 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Source: http://www.msnbc.msn.com/id/45779782/ns/world_news-americas/

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Man Miraculously Saves His Life As Satellite Fragment Crashes Into His House [Wtf]

Andrei Krivorukov got a wonderful Christmas gift today: his very own life. He saved it after a titanium ball from a Russian communication satellite crashed right into his house, escaping death by just a few feet. More »


Source: http://feeds.gawker.com/~r/gizmodo/full/~3/T4hQRtO85JE/man-miraculously-saves-his-life-as-satellite-fragment-crashes-into-his-house

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Seeking to Circumvent Possible U.S. Trade Sanctions, China Buys Hawaiian Solar Company

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Chinese investment in the U.S. economy up to now has been primarily in the form of U.S. Treasury bills.
?
But, reading the U.S. press and conservative calls for punitive trade tariffs against China, Beijing?s investors have taken a leaf out of Tokyo?s 40 year-old playbook, when similar concerns were raised about Japanese imports. Four decades ago Japan cannily began not only to establish factories in the U.S. for its major U.S. exports, primarily automobiles, but began a cautious policy of investing in struggling U.S. companies, so if and when Congress got more xenophobic Japanese manufacturers could point out that trade barriers would harm American workers as well as Japanese ones.
?
The net result on punishing Japan with restrictive tariffs quickly became the daunting possibility of throwing U.S. workers into unemployment, then, as now, the third rail of American politics, and what Congressman want to be seen as increasing unemployment?
?
The above scenario is behind the recent acquisition by Tianwei New Energy Holdings Co., Ltd. (Tianwei) of Hawaii?s troubled Hoku Corporation, a solar energy product company, a leading provider of silicon wafers, photovoltaic (PV) cells, modules and systems.
?
Last month Tainwei announced the signing of a definitive reseller agreement establishing Tianwei Solar USA, Inc., a wholly-owned subsidiary of, as the primary distributor of Tianwei New Energy's PV modules to the North American market.
?
On 1 December Tianwei started its polysilicon production via Hoku Corp. with an annual capacity of 2,500 tons. Last year China?s National Development and Reform Commission approved Tianwei purchasing 60 percent of Hoku Corp.?s outstanding shares.
?
According to Hoku Corp., ?During the three months ended September 30, 2011 Hoku Materials incurred an operating loss of $7.6 million,? as even as of ?September 30, 2011, Hoku Materials has capitalized $575.6 million related to construction costs for the Polysilicon Plant and had received $140 million in customer deposits as prepayments under long-term polysilicon supply agreements.?
?
Can you say cash flow problems?

Under the terms of the agreement, Hoku's newly formed subsidiary will market, distribute and sell Tianwei New Energy's full range of UL-listed PV modules in North America. Hoku established offices in Southern California for Tianwei Solar USA, Inc and will initially focus on developing key sales channels within the commercial and residential segments of the distributed generation solar market. Tianwei New Energy already has an established customer base in Europe, in 2010 delivering more than 200 megawatts of PV modules.

Spinning the news, Hoku Corp. CEO Scott Paul said, "We are extremely pleased to continue strengthening our relationship with Tianwei. This new PV products division represents the first of several steps forward in our continued expansion of Hoku's global market presence. It will provide a strong complement to our existing solar projects business, and we look forward to supplying Tianwei New Energy's modules to project developers, PV integrators and utility customers throughout North America."
?
Reciprocating the back rub, Tianwei general manager and now Hoku Corp. director Zhengfei Gao purred, "We recognize Hoku Solar's PV integration expertise, brand strength and market presence in the U.S. North America is an important, growing market in the solar industry, and Tianwei is very pleased to have Hoku leadership in our strategic North American expansion."
?
So, what has China bought?
?
Hoku Corp. consists of three business units: Hoku Materials, Hoku Solar, and Tianwei Solar USA, Inc., manufacturing polysilicon for the solar market from its plant currently under construction in Pocatello, Idaho and now Hoku Solar markets and sells PV modules manufactured by Tianwei New Energy.
?
And the future looks sunny. Tianwei chairman Ding Qiang said that Tianwei signed a distribution agreement with Hoku Corp. to be its distributor for its sales of modules not only in the U.S., but Canada and South American regions as well.
?
And Tainwei is already garnering allies. On 21 December, according to Ding, the U.S.-based Coalition for Affordable Solar Energy wrote to Hoku competitor solar-panel maker SolarWorld asking it withdraw its petition asking the American government to impose heavy tariffs on Chinese solar energy products for unfair trading practices, commenting, "By asking government to interfere and artificially increase the price will only hinder the deployment, cost thousands of jobs, reduce our energy security, and further negatively impact an already shaky economy."
?
Two months ago SolarWorld Industries America, an Oregon company, and six other undisclosed partners filed an appeal to the U.S. Department of Commerce (DOC) alleging unfair Chinese business practices and the DOC replied in November that it would conduct an investigation to determine whether Chinese firms have been selling solar panels in the United States at unfair discounts and receiving illegal government subsidies and a ruling earlier this month by the International Trade Commission concluded that U.S. solar companies were being harmed by Chinese solar imports.
?
Interestingly, SolarWorld Industries America, the largest U.S. solar manufacturer, is now owned by a German company
Many energy analysts have commented that acquisitions of American companies provide a way for Chinese solar energy companies to avoid U.S. trade barriers.
?
Well, duh!
?
The question remains ? where were U.S. investors when Hoku Corp. was struggling?

By. John C.K. Daly of Oilprice.com

Source: http://oilprice.com/Alternative-Energy/Solar-Energy/Seeking-to-Circumvent-Possible-U.S.-Trade-Sanctions-China-Buys-Hawaiian-Solar-Company.html

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Senator Risch selects Idaho nominees for U.S. Military Academics

(Updated 3:38 p.m.) - Dozens of young men and women made the nomination list for the United States Military Academics for the 2012 school year. The released list, featuring selections by Senator Jim Risch, covers all four academies: Air Force, Army, Marine and Navy.

This is just the first step of the selection process. Names marked in bold are North Idaho nominees.

U.S. Air Force Academy

  • Joseph Cardona III, Boise
  • Anthony deVera, Meridian
  • John French, Meridian
  • Kaylee Kostka, Heyburn
  • Adrianna Lutu, Boise
  • Kevin Miller, Idaho Falls
  • Zachary Morrow, Roswell
  • Jonathon Riggers, Nezperce
  • Nathaniel Rupp, Boise
  • Ronald Weimar, Payette

U.S. Military Academy at West Point (Army)

  • Adam Armour, Idaho Falls
  • Reid Boorman, Bonners Ferry
  • Layne Harper, Blackfoot
  • Joel ?Parker? Heisey, Coeur d?Alene
  • Colby Hyde, Eagle
  • Zachary LaBenne, Hayden
  • Parker Matthews, Rathdrum
  • Bryan Perry, Rigby
  • David Trompke, Eagle
  • Kristine Westergard, Boise

U.S. Merchant Marine Academy

  • Brennen Connolly, Meridian
  • Andrew Fletcher, Boise
  • Alex Foster, Ammon
  • Zane Hardin, McCall
  • Mason Menges, Nampa
  • Konnor-Lawrence Moden, Boise
  • Levi Sliwoski, Boise
  • Eric Whitman, Priest River
  • Kevin Wilmot, Jerome
  • Rebecca Winzer, Coeur d?Alene

U.S. Naval Academy

  • Nicholas Arnold, Boise
  • Hallie Bonnicksen, Kellogg
  • Andrew Brackebush, Silverton
  • Joseph Dlugosch, Eagle
  • Gaylen Edmo, Pocatello
  • John Foulger, Chubbuck
  • John ?Gil? Givens, Post Falls
  • Kylie Johnson, Coeur d?Alene
  • Skyler Means, Boise
  • Jonathon Riggers, Nezperce

Note: A reader pointed out that there was no nomination list for Coast Guard. After speaking with Senator Risch's Office in Washington D.C., they said that the Coast Guard academy does not need nominations.

Source: http://coeurdalene.kxly.com/news/people/68823-senator-risch-selects-idaho-nominees-us-military-academics

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Silence of the Bams, cont?d (Powerlineblog)

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Sunday, December 25, 2011

Iraq Struggles To Create Jobs and Wealth

Washington (VOA) -- Iraq has some of the largest oil reserves in the world, but its economy suffers from high unemployment, war damage and the lingering effects of past international sanctions.

Crumbling infrastructure and political bickering also weigh down economic growth.

Oil dominates Iraq's 82 billion-dollar a year economy, yielding most of the government's revenues and export income. It dwarfs all other sectors of the economy, and some economists say it could spur double-digit growth. That impresses U.S. President Barack Obama.

"In the coming years, it's estimated that Iraq's economy will grow even faster than China's or India's."

Mr. Obama spoke after a recent meeting in Washington with Iraqi Prime Minister Nouri Al-Maliki. Iraq has the second-largest proven oil reserves in the world, but most of that potential wealth is still in the ground. Prime Minister Al-Maliki:

"Iraq ... needs experience and expertise and American and foreign expertise to help Iraq exploit its own wealth in an ideal way."

Foreign oil companies have made some deals in Iraq, but are hesitant to make more investments until the central government in Baghdad and the Kurdish regional government agree on clear laws governing this critical economic sector. They have haggled for years over who has the right to approve agreements with foreign oil companies and how to structure those deals.

Ben Lando heads the website Iraq Oil Report. He spoke to VOA via Skype.

"It's a have a fundamental dispute as to what the future of the state looks like, and the oil is where you can see it most starkly playing out."

Iraq's economy is recovering slowly from war and sanctions. At one point, gross domestic product per person fell to just $800, but is now about $3000. But that is lower than Iraqi incomes in the 1970s. Unemployment is at least 18 percent, but the oil industry's growing efficiency means it will provide fewer jobs than it did in the past.

Mohsin Khan is with the Peterson Institute for International Economics in Washington.

"Refineries, people say that you can run refineries that would take 1,000 people in the 1970s, now with 10 [people]. Because of computerization and so on, you don't need people."

But Iraqis need jobs. Nearly a quarter of the nation's 32 million citizens live in poverty.

By Jim Randle

Source: http://www.aina.org/news/20111223135047.htm

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Happy Holidays from Jennifer Freeman

Merry Christmas from Jennifer Freeman and 2-year-old daughter Isabella Amour! “During the holiday season, my sisters and I love to cook yummy dishes and bake desserts. Now that Isabella is two, we will have her join in on the fun!” the My Wife & Kids star, 26, tells PEOPLE of their plans. “Isabella has been [...]

Source: http://feeds.celebritybabies.com/~r/celebrity-babies/~3/KLbP_9iBKw4/

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Saturday, December 24, 2011

[OOC] Suggestions and Requests

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This topic is an Out Of Character part of the roleplay, ?The Colors of the World?. Anything posted here will also show up there.

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Iran's navy begins drill in Persian Gulf (AP)

TEHRAN, Iran ? Iran's navy has begun a 10-day drill in international waters beyond the strategic Strait of Hormuz at the mouth of the Persian Gulf, the passageway for about a third of the world's oil tanker traffic.

The exercise could bring Iranian ships into proximity with U.S. Navy vessels in the area.

Navy chief Adm. Habibollah Sayyari says Iran is holding the war games to show off its prowess and defense capabilities. State TV broadcast his comments on Saturday.

The drill will be Iran's latest show of strength in the face of mounting international criticism over its controversial nuclear program, which the West fears is aimed at producing atomic weapons. Tehran denies those charges, insisting the program is for peaceful purposes only.

Source: http://us.rd.yahoo.com/dailynews/rss/iran/*http%3A//news.yahoo.com/s/ap/20111224/ap_on_re_mi_ea/ml_iran_navy_drill

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The Nicest Place on the Internet [Video]

The holidays are here. The year is finishing up. It's late. It's cold. It's about time to go to the nicest place on the Internet. Go here, get hugs and feel good. [The Nicest Place on the Internet via BuzzFeed] More »


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lvgolfblogger: Gary Woodland up, Sean O'Hair down http://t.co/vsoUVfYu #Golf

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Friday, December 23, 2011

Quiznos Seeks to Avoid Chapter 11 With Debt Restructuring Deal

December 23, 2011, 7:53 PM EST

By Duane D. Stanford

Dec. 23 (Bloomberg) -- Quiznos Corp., the closely held sandwich chain, reached an agreement with creditors that may help it avoid bankruptcy.

The restructuring deal with a ?significant majority? of first- and second-lien lenders will provide $150 million in new equity capital, the Denver-based company said today in a statement. The pact will cut $300 million from Quiznos? debt load, almost one-third of the total, and make Avenue Capital Group LLC the majority owner.

Quiznos will shelve a backup plan to file for Chapter 11 bankruptcy if it can persuade all of the lien holders to accept the restructuring. The company also intends to ask for concessions from other creditors, it said in the statement.

?The terms of the pre-packaged Chapter 11 plan would provide less favorable treatment for the lenders and certain other creditors and landlords than under the proposed out-of- court exchange offer,? the company said.

Quiznos owners include CCMP Capital Advisors LLC, Quiznos founder Rick Schaden and Consumer Capital Partners, the private equity firm he started.

--Editors: Stephen West, Peter Blumberg

To contact the reporter on this story: Duane D. Stanford in Atlanta at dstanford2@bloomberg.net

To contact the editor responsible for this story: Robin Ajello at rajello@bloomberg.net

Source: http://c.moreover.com/click/here.pl?r5659211550&f=378

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Obama presses Boehner to compromise on tax deal (Reuters)

WASHINGTON (Reuters) ? In a bid to end a worsening standoff over extending a tax break for Americans, President Barack Obama urged Republican House of Representatives Speaker John Boehner on Wednesday to pass a short-term extension and return to talks on a year-long deal in the New Year.

While Boehner showed no immediate signs of backing down on his demand that Congress tackle the long-term deal to extend a payroll tax cut before it expires at year's end, calls for compromise in his own party grew. With 2012 elections looming, some Republicans fear they will be blamed for letting the tax bill rise on January 1 for 160 million Americans.

Obama telephoned Boehner and Senate Majority Leader Harry Reid, a Democrat, to stress his willingness to work with Congress to get an agreement on the expiring payroll tax cut for 160 million Americans, White House spokesman Jay Carney said.

Obama asked Boehner and House Republicans to drop their opposition to a short-term measure that the Senate passed overwhelmingly at the weekend and signaled an unwillingness to reopen negotiations now, as Republicans are demanding.

Obama and many economists say the payroll tax cut is crucial to the country's fragile economic recovery.

"The president reiterated the need and his commitment to work with Congress to extend the payroll tax cuts for the entire year," Carney said, adding that the two-month extension negotiated by the Senate was "the only option to ensure that middle class families are not hit with a tax hike in 10 days."

While Obama is not reopening talks, his gesture on Wednesday might be seen as a nod to Republican demands. It came just hours after Republican House Majority Leader Eric Cantor called for the president to get directly involved to resolve the dispute.

Meanwhile, House Republicans have been coming under heavy fire from fellow Senate Republicans and conservatives over their refusal to consider the two-month deal eked out by the Senate leadership on Friday night. Senate negotiators had been unable to agree on how to pay for a longer-term extension.

'WHEN PAYCHECKS GET SMALLER'

"The smartest thing for (House Republicans) to do would be to pass this (bipartisan Senate bill), live to fight another day and then push for a full-year extension," a senior Senate Republican aide said.

"If and when paychecks get smaller, people are going to ask, 'Why?'" the aide said. "We (Republicans) get the blame, Washington gets the blame and it won't be great for Senate Democrats either," the aide said.

The standoff caps a tumultuous year in U.S. politics that has raised serious concerns among both voters and investors about Washington's ability to make sound economic policy and slow the growth of its trillion dollar-plus deficit.

In the final days of the payroll tax cut debate, Republicans

are in unfamiliar territory after a year of largely winning the battle on taxes and budgets. They are now struggling to live up to their reputation as the party of lower taxes, while hardball tactics that had served them well before might now backfire.

Boehner's control over his caucus, which includes many Tea Party movement-aligned fiscal conservatives, has also come under increased scrutiny after House members revolted against the Senate deal.

Senate Democrats, sensing they have a political advantage on an issue that has sharply divided Republicans in the Senate and the House, are refusing to reopen negotiations. Most have already left Washington for the holidays.

The showdown has the potential to deliver a political lift to Obama and his Democrats at the expense of Republicans who want to make 2012 a referendum on Obama's handling of the economy.

"Obama doesn't have to offer that much right now," said Julian Zelizer, a political historian at Princeton University. The Republicans are the ones that have come out looking bad. Obama isn't putting much on the table beyond saying think twice about this and let's reach an agreement."

Obama seemed to agree. After the calls to Boehner and Reid, he went Christmas shopping with dog Bo while his wife and daughters waited for him to join them in Hawaii.

EMPTY CHAIRS

The day started off with mounting pressure on Boehner and House Republicans to end the standoff, from Reid to fellow Republicans to the opinion page of the Wall Street Journal.

As the war of messages escalated, Boehner called reporters, photographers and TV crews to a room on Capitol Hill where he sat at a high-glossed wooden table flanked by Cantor and eight House Republican negotiators.

"We are here ready to do our work," Boehner said. Across the table were the empty chairs reserved for the Democratic negotiators.

An editorial in the Wall Street Journal, which has often disagreed vehemently with Obama's economic policies, gave Republicans a scathing critique of their handling of the payroll tax cut issue, saying they "achieved the small miracle of letting Mr. Obama position himself as an election-year tax cutter."

The editorial urged Republicans "to cut their losses and find a way to extend the payroll holiday quickly."

The Wall Street Journal editorial page often gives insight into the thinking of leading conservatives in U.S. business and politics. Wednesday's editorial, headlined "The GOP's Payroll Tax Fiasco" suggests widespread anxiety among conservatives over the House Republican tactics.

A number of Republican senators have also blasted their House colleagues over their handling of the issue.

Republican Senator Scott Brown said: "House Republicans would rather continue playing politics than find solutions" and added that their actions would damage a fragile economy.

If the Congress cannot reach a deal by December 31, the payroll tax American workers pay to fund the Social Security federal retirement program will rise immediately to 6.2 percent, from 4.2 percent.

Many economists and the White House warn that U.S. economic growth will suffer in 2012 as most workers would be hit with an effective $1,000-a-year tax hike.

(Writing by Ross Colvin and Mary Milliken, additional reporting by Caren Bohan, Laura MacInnis, Kim Dixon and Paul Eckert; Editing by Vicki Allen)

Source: http://us.rd.yahoo.com/dailynews/rss/economy/*http%3A//news.yahoo.com/s/nm/20111221/pl_nm/us_usa_taxes

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Analysis: Protests far from a knockout blow for China leaders (Reuters)

HONG KONG (Reuters) ? Like battle-hardened boxers, China's Communist Party leaders are leaning back on the ropes, patiently absorbing the blows from angry village protesters who have grabbed headlines but lack a knockout punch.

Similar social upsrisings have floored leaders from North Africa and the Middle East but China's leaders, and the country itself, are made of sterner stuff.

Analysts say it would take an unlikely combination of blows for any semblance of an Arab Spring to take root in China: collapse of the economy, a breakdown of the Party system, a comprehensive loss of trust in the central government, and a cohesive anti-party movement in rural and urban areas.

Still, China has endured headlines that would make many an Arab leader tremble.

Villagers in Wukan in south China chase off local officials and barricade themselves in for a 10-day standoff. Thousands march in Haimen city less than 160 km (100 miles )away to protest against a power plant project. Workers stage a sit-in in Dongguan city to the west, demanding backpay after their paper plant closed down.

But while Arab Spring protesters have scored knockout blows this year, economic conditions appear to have China on course for a comfortable points decision.

After the wave of Arab Spring revolutions, analysts began looking for markers that might be useful for predicting the next uprising. The most common characteristics included a disproportionately large segment of the population aged under 25, stagnating GDP per capita, and widening income inequality.

China doesn't stand out in any of those categories. The one-child policy means the country is aging rapidly, and the bigger worry is potential shortages of young workers. GDP per capita is rising steadily. Income inequality, although wide, may narrow as Beijing mandates large minimum wage increases.

Some 80 million Communist Party members and millions more who have benefited from China's economic boom have little interest in spreading social unrest that would undermine those gains. Among China's vast bureaucracy, where college graduates are competing for jobs, and the People's Liberation Army, appetite for change is even lower.

"With civil servants and military, with their support, even when there is extensive discontent among the general public, the regime can still maintain its rule for quite a long period of time," said Kin-man Chan, associate professor at the department of sociology at Chinese University of Hong Kong.

SPARK WON'T START A PRAIRIE FIRE

Other factors favor the Party over the protesters, who lack central organization.

These include strong political cohesion, a system that reinforces support for the central government over local officials, a massive police force and fairly tight controls on traditional and social media.

The last time the Politburo Standing Committee was seriously split was in 1989, a divide that gave time for the democracy movement centered on Tiananmen Square to snowball. Paramount leader Deng Xiaoping eventually stepped in, Party secretary Zhao Ziyang was sacked, and the movement was crushed on June 4 that year in a bloody military crackdown that killed hundreds, perhaps thousands.

The Chinese government's fear is that, in the more distant future, those trends could gather momentum and threaten it.

"I don't think this can become a single spark that starts a prairie fire," said Ting Wai, a professor of political science at Hong Kong Baptist University, referring to Mao Zedong's famous thesis from the Chinese revolution.

"There are many incidents of social unrest like these in China, but I don't think in the near future they will join together," Ting said.

TRICKLE, NOT A FLOOD

While pressures from riots, strikes and other mass incidents could chip at the Party's grip on the country, analysts say that weakening remains manageable, a trickle rather than a flood.

Even the incident in the rebellious Guangdong province village of Wukan, where concessions to end the standoff appeared particularly favorable, only rippled the surface.

Liu Feiyue, a human rights advocate in central China's Hubei province who collects reports from protesters, said "the scope of concessions in Wukan was unusually large, especially on freeing detained villagers and a fresh village election."

"This showed unusual flexibility and reasonableness from the Guangdong government," said Liu, who runs the Civil Rights and Livelihood Watch website.

"But I don't think the Wukan model will spread nationwide easily. There's too much conservatism and fear of change, and other places tend to offer only tactical compromises and then officials return to high-pressure methods and to settling scores," Liu said in a telephone interview.

The Communist Party has years of experience handling incidents of mass unrest that have grown in number as economic reforms gathered pace in the 1990s and 2000s, bringing booming growth and rising incomes but also spawning a widening wealth gap and uneven development.

Each day, authorities grapple with nearly 250 mass incidents, the euphemism for riots and protests, somewhere across the country, based on the annual figure of more than 90,000 incidents that Chinese experts estimate occur annually.

It has also been going on for years -- in 2004 there were 78,000 incidents and Hu's predecessor Jiang Zemin had to defuse huge strikes as he and Premier Zhu Rongji overhauled lumbering state enterprises, shattered the iron rice bowl and laid off thousands of workers from once guaranteed jobs.

While incidents differ, China's approach to handling violent protest has been fairly formulaic. First, security forces quell the incident with overwhelming force and arrest the ringleaders. The authorities one rung up the ladder at the county or province often then address the source of the outrage -- closing down the polluting factory, arresting the corrupt local official, or ordering the backwages paid.

"THROW THE BUMS OUT"

There is little sign of discord in the Politburo when it comes to social stability, particularly with a leadership transition coming.

Zhou Yongkang, the Standing Committee member in charge of public security, was not speaking just for himself in a speech carried in newspapers on Thursday that urged law-and-order cadres to ensure "a harmonious and stable social setting" ahead of the Communist Party's 18th Congress in late 2012.

Social media are yoked as well. China has banned Facebook and Twitter and while Weibo, the popular microblogging site, has become a source for news to spread, tight controls -- posts are deleted or topic searches are banned -- hinder the ability to use it to organize, Chan said.

Activists who travel to areas of unrest to support or organize them are arrested. Such incidents are geographically widespread and often in remote areas.

China's central government also benefits from wide respect at the local level. Unlike the United States, where voters re-elect their local officials but want to "throw the bums out" in Washington, China's central government enjoys relative popularity in relation to local village or county leaders.

Indeed, the provincial delegation sent by provincial Party Chief and Politburo member Wang Yang to negotiate in Wukan was welcomed warmly. When a deal to end the standoff was reached, the village elders told the rest of the village to take down their banners and go home.

This respect for high leadership is perhaps reinforced by a tradition of seeking redress from on high through petitioning the emperor's officials.

Thirty years of strong economic growth have added credibility for China's Communist rulers, who enjoy a higher level of trust than their Arab counterparts, Chinese University's Chan added.

"Because of this trust, basically the stability of China can still be maintained," Chan said.

There was some risk people could be disillusioned if the government failed to address their petitions positively. "But now at this moment I don't think that China has reached what has happened in Egypt," Chan added.

Wukan was arguably closer to anything resembling an Arab-style movement that China has seen for a while. They tossed out their local leaders, installed their own rebel village leadership and manned barricades against police in open revolt for 10 days.

But even in Wukan, the contradictions were apparent, illustrating the gulf between China and turmoil abroad.

"Democracy is good for citizens, as citizens can make decisions for themselves," said Yang Semao, a village representative in Wukan, adding that calls for democracy and elections would be "better if they spread nationwide."

But he added: "China won't turn out to be as serious as the other countries, as long as the Chinese Communist Party is in control."

(Additional reporting by Chris Buckley in BEIJING, Sui-Lee Wee in WUKAN, Sisi Tang in HONG KONG and Emily Kaiser in SINGAPORE; Editing by Paul Tait)

Source: http://us.rd.yahoo.com/dailynews/rss/asia/*http%3A//news.yahoo.com/s/nm/20111223/wl_nm/us_china_protests

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