শনিবার, ২৯ অক্টোবর, ২০১১

Small plane crash kills 2 at South Florida airport

(AP) ? Authorities are investigating after a small plane crashed at a South Florida airport, killing both people on board.

The Federal Aviation Administration tells Miami's WFOR-TV (http://cbsloc.al/rpoP9h ) that the single engine aircraft crashed under unknown circumstances Saturday morning at the Richards Field Airport in Homestead.

The FAA says two people on board were killed, and the owner of the plane is from Miami. No other details were immediately available.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/386c25518f464186bf7a2ac026580ce7/Article_2011-10-29-Small%20Plane%20Crash-Florida/id-4069d3fdb1594becb85714109eab4d1c

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U.N. council plans swift end to Libya mandate (Reuters)

UNITED NATIONS (Reuters) ? The Security Council plans to end U.N. authorization for a no-fly zone and NATO intervention in Libya this week despite calls from Libya's government for it to wait, council envoys said on Wednesday.

Libyan Deputy U.N. Ambassador Ibrahim Dabbashi told the 15-nation council that Libya's people were "looking forward to terminating the no-fly zone over Libya as well as terminating the mandate accorded by Security Council resolution 1973 to protect civilians as soon as possible."

"In accordance with the initial assessments, the date of October 31 is a logical date to terminate this mandate," he said.

But he added that Libya's National Transitional Council, or NTC, had not yet made an official decision on whether to request termination of the U.N. mandate under resolution 1973, which authorized members of NATO and other U.N. member states to take "all necessary measures" to protect Libyan civilians.

That was why the Libyan government wanted the council to hold off on ending NATO's U.N. mandate, Dabbashi said.

"We request the council to give a chance to the NTC to take a resolution on this," he said. "This requires some days. Perhaps this will take place before the 31st of this month."

Dabbashi said the government needed more time to assess the security situation in its country and its ability to monitor its borders.

Western diplomats on the Security Council told reporters after closed-door discussions on Libya that council members planned to go ahead and terminate the U.N. mandate, thereby withdrawing NATO's authorization in Libya.

They said issues the NTC had suggested it would like NATO to help with, including border security, fell outside the U.N. mandate to protect civilians and enforce a no-fly zone.

"The job was to protect civilians and from NATO's point of view, that mission has been accomplished," a diplomat told Reuters on condition of anonymity. "There's no point in delaying termination of the mandate."

DABBASHI: GADDAFI WASN'T EXECUTED

France's U.N. ambassador, Gerard Araud, said an arms embargo and other sanctions on Libya still in place would not be affected by the council's move to end the no-fly zone and terminate the U.N. mandate for outside military intervention.

He added that all council members believed there would be no need for the U.N. mandate for military operations in Libya beyond Monday and planned to adopt a resolution that would formally cancel that mandate on Thursday or Friday.

Russian Ambassador Vitaly Churkin, who has repeatedly accused NATO of exceeding its U.N. mandate in Libya, said extending the U.N. authorization beyond Monday would be "unrealistic."

The Security Council in March authorized a no-fly zone and foreign military intervention to protect Libyans from security forces that then-leader Muammar Gaddafi had deployed to suppress pro-democracy uprisings across the country.

The council is also expected in the coming days to approve a Russian-drafted resolution voicing concern about the proliferation of shoulder-launched surface-to-air missiles across Libya and beyond its borders, diplomats said.

Apparently responding to calls from various senior U.N. officials for an investigation into the circumstances of the death of Gaddafi after his capture last Thursday, Dabbashi denied NTC soldiers had summarily executed him.

Gaddafi died of wounds he sustained prior to his capture, he said.

"Gaddafi was injured in the course of the clashes between his loyalists and the revolutionaries," Dabbashi said. "When he was arrested, he was bleeding from his abdomen and head and he passed away (on) his arrival to the hospital in Misrata."

"According to initial reports, none of the revolutionaries fired at him after arresting him," he said.

He added the Libyans were conducting an investigation.

(Reporting by Louis Charbonneau; Editing by Peter Cooney)

Source: http://us.rd.yahoo.com/dailynews/rss/africa/*http%3A//news.yahoo.com/s/nm/20111026/wl_nm/us_libya_un

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শুক্রবার, ২৮ অক্টোবর, ২০১১

Police nab US mob boss in clinic

(AP) ? A top boss from the Gambino crime clan convicted in the U.S. of selling heroin was rearrested in a Rome clinic Thursday after he checked in for medical tests, police said.

Rosario Gambino, 69 ? convicted by U.S. courts in a Pizza Connection heroin probe and sentenced to 45 years in prison in 1984 ? was deported two years ago to Italy so he could serve a 20-year sentence in a separate drug case.

Italian news reports said an Italian tribunal earlier in the week had ordered him released while his lawyers pursue an appeal with the Court of Cassation, Italy's top criminal court. However, police said they moved to arrest him Thursday after an appeals tribunal in Palermo, Sicily, issued a fresh warrant.

Gambino "was surprised inside a clinic in the capital, where he had sought some tests" for an undisclosed medical problem, Rome police headquarters said in a statement. "He has a long career in the ranks of the Italian-Sicilian Mafia on his resume."

Police who carried out the arrest could not be reached for details Thursday night.

Court officers were closed, but the Italian news agency ANSA said that the Palermo court deemed Gambino a flight risk.

Gambino, an Italian-born New Jersey resident, was considered a top figure in the New York-based crime family led by his late cousin Carlo Gambino.

In 1984, Rosario Gambino was convicted in a multi-million-dollar conspiracy to sell heroin in southern New Jersey and sentenced to 45 years in jail. He was linked to a Pizza Connection case involving a then $1.6-billion heroin and cocaine smuggling operation that used pizzerias as fronts in the 1970s and early 80s.

He was released in 2007 and transferred to an immigrant detention center in California to await expulsion. Gambino was wanted in Italy since 1980 in a drug trafficking probe. When he was deported to Italy two years ago, he was served the 1980 warrant signed by Giovanni Falcone, the Sicilian prosecutor who was killed by the Sicilian Mafia in a 1992 bombing.

Police said Gambino was convicted by an Italian court in 1983 of criminal association for drug trafficking and sentenced to 20 years.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/cae69a7523db45408eeb2b3a98c0c9c5/Article_2011-10-27-EU-Italy-US-Mafia/id-5a5581a2870948a8a341dcf87cd9fc49

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বৃহস্পতিবার, ২৭ অক্টোবর, ২০১১

Chicago Grocery Store Expansions to Eliminate Food Deserts, Create 2,000 Jobs (ContributorNetwork)

Chicago Mayor Rahm Emanuel and first lady Michelle Obama announced several major grocery store chains will be opening 36 grocery stores in neighborhoods around Chicago. The stores will help eliminate "food deserts" in the city and will also help create more than 2,000 new jobs for Chicagoans.

Supervalu, Roundy's Supermarkets, Wal-Mart and Aldi's have agreed to open 17 new locations. Additionally, Walgreens has also decided to expand 19 of its locations to offer fresh food. With this announcement, here are facts about food deserts and the steps Chicago and Mayor Emanuel have taken to reduce this problem:

* According to the Centers for Disease Control and Prevention, food deserts are areas that lack access to affordable foods that make up a healthy diet like vegetables, fruits, milk and whole grains.

* More than 23 million people live in food deserts, notes the Department of Agriculture. These areas often include urban neighborhoods and rural towns.

* Residing in a food desert can lead to health problems like obesity, diabetes and heart disease due to the lack of affordable and healthy food options.

* The Chicago Sun-Times reported Chicago's food desert has decreased by 40 percent over the past five years, from about 632,974 people to 384,954 people.

* Of the nearly 384,000 people, about 124,000 are children and Chicago's food desert lies in predominantly African-American communities.

* Yahoo! News reported that in mid-June, Mayor Emanuel met with several CEOs from some of the nation's biggest grocery chains to discuss eliminating food deserts in the city.

* Food deserts in the city cover the neighborhoods of North Lawndale, Chatham, Douglas, Englewood, Roseland and West Pullman.

* Tackling the problem of food deserts has long been a major goal of Mayor Emanuel, who, during his election campaign, spoke about his plans to eliminate the issue, according to CBS Local.

* The mayor's initial plan involved engaging small and local grocery stories, encouraging communities to plant gardens, and developing public-private partnerships.

* Emanuel's and Obama's recent announcement includes piloting five new farmers markets on the city's west side over the next two years.

* Obama is also encouraging other mayors to follow Chicago's lead to end food deserts in their city's by bringing healthy and affordable food options to underserved residents, reported Bloomberg Businessweek.

Rachel Bogart provides an in-depth look at current environmental issues and local Chicago news stories. As a college student from the Chicago suburbs pursuing two science degrees, she applies her knowledge and passion to both topics to garner further public awareness.

Source: http://us.rd.yahoo.com/dailynews/rss/obama/*http%3A//news.yahoo.com/s/ac/20111026/us_ac/10296233_chicago_grocery_store_expansions_to_eliminate_food_deserts_create_2000_jobs

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Sibling rivalry as Ohio brothers vie for mayor

ELMORE, Ohio (AP) ? It's brother against brother in a northwest Ohio village where siblings are vying for mayor.

Incumbent Lowell Krumnow is being challenged on the Nov. 8 ballot by Councilman James Krumnow in Elmore, 20 miles southeast of Toledo.

The councilman tells The Blade of Toledo (http://bit.ly/ufxP1A ) the community with a population of about 1,400 is ready for a change and a fresh face. He says some residents asked him to try to unseat his younger brother.

The mayor, who has been in office since 1992, says he believes people are satisfied with his leadership. He also says he has a courteous relationship with his brother and says they communicate.

The election for mayor is nonpartisan. Both Krumnows are Republicans, but Councilman Rick Claar says otherwise the brothers are "polar opposites."

___

Information from: The Blade, http://www.toledoblade.com/

Source: http://hosted2.ap.org/APDEFAULT/aa9398e6757a46fa93ed5dea7bd3729e/Article_2011-10-25-Brother%20Candidates/id-5ca993d25f4c490daa93447ba5abfe35

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বুধবার, ২৬ অক্টোবর, ২০১১

Obama offers mortgage relief on western trip

President Barack Obama waves as he boards Air Force One at Andrews Air Force Base, Md., Monday, Oct. 24, 2012. (AP Photo/Cliff Owen)

President Barack Obama waves as he boards Air Force One at Andrews Air Force Base, Md., Monday, Oct. 24, 2012. (AP Photo/Cliff Owen)

President Barack Obama waves as he boards Air Force One at Andrews Air Force Base, Md., Monday, Oct. 24, 2012. (AP Photo/Cliff Owen)

President Barack Obama walks out of the Oval Office of the White House in Washington, Monday, Oct., 24, 2011, prior to his departure on Marine One helicopter, for a trip to Las Vegas. (AP Photo/Pablo Martinez Monsivais)

(AP) ? The Obama administration offered mortgage relief on Monday to hundreds of thousands of Americans in the latest attempt to ease the economic and political fallout of a housing crisis that has bedeviled President Barack Obama as he seeks a second term.

Obama was pitching new rules for federally guaranteed loans in Las Vegas, the epicenter of foreclosures and joblessness, in recognition that measures the administration has taken so far have not worked as well as officials had expected. The housing effort represents a new emphasis on executive steps he can take to address economic ills and other domestic challenges while circumventing Republican lawmakers, who have been blocking most of his proposals.

His jobs bill struggling in Congress, Obama tried a new catchphrase ? "We can't wait" ? to highlight his administrative initiatives and to shift blame to congressional Republicans for lack of action to boost employment and stimulate an economic recovery. Later in the week, Obama plans to announce measures to make it easier for college graduates to pay back federal loans.

While Obama has proposed prodding the economy with payroll tax cuts and increased spending on public works and aid to states, he has yet to offer a wholesale overhaul of the nation's housing programs. Economists point to the burst housing bubble as the main culprit behind the 2008 financial crisis. Meanwhile, the combination of unemployment, depressed wages and mortgages that exceed house values has continued to put a strain on the economy.

"There is no silver bullet," White House press secretary Jay Carney told reporters aboard Air Force One, and he acknowledged that the president's unilateral measures have their limits. "They are not a substitute to congressional action."

While the White House tried to avoid predicting how many homeowners would benefit from the revamped refinancing program, the Federal Housing Finance Administration estimated an additional 1 million people would qualify. Moody's Analytics say the figure could be as high as 1.6 million.

Under Obama's proposal, homeowners who are still current on their mortgages would be able to refinance no matter how much their home value has dropped below what they still owe.

In spelling out the plan to homeowners in in a Las Vegas neighborhood, Obama has chosen a state that provides the starkest example of the toll the housing crisis has exacted from Americans. One in every 118 homes in the state of Nevada received a foreclosure notice in September, the highest ratio in the country, according to the foreclosure listing firm RealtyTrac.

Carney criticized Republican presidential candidate Mitt Romney for proposing last week while in Las Vegas that the government not interfere with foreclosures. "Don't try to stop the foreclosure process," Romney told the Las Vegas Review-Journal. "Let it run its course and hit the bottom."

"That is not a solution," Carney said. "That is a solution that basically says to middle-class Americans who have been responsibly paying their mortgages, who, through no fault of their own, have seen their economic situation get quite desperate because of the crisis in the housing market, that 'you're on your own, tough luck, I'm not going to help you.'"

The president also was using his visit to Las Vegas to promote a $15 billion neighborhood revitalization plan contained in his current jobs proposal that would help redevelop abandoned and foreclosed properties and stabilize affected neighborhoods.

The Nevada stop is the first leg of a three-day tour of western states, blending his pitch for boosting the economy with an aggressive hunt for campaign cash.

From Nevada, Obama will head for the glamor of Hollywood and the homes of movie stars Melanie Griffith and Antonio Banderas and producer James Lassiter for some high-dollar fundraising. On Tuesday, he will tape an appearance on "The Tonight Show" with Jay Leno, his second time on the show as president and fourth time overall. He will also raise money in San Francisco and in Denver.

Before the president addressed his mortgage refinancing plan, he attended a fundraiser at the luxurious Bellagio hotel, offering a sharp contrast between well-to-do who are fueling his campaign and the struggling homeowners hoping to benefit from his policies.

The mortgage assistance plan by the Federal Housing Finance Administration will help borrowers with little or no equity in their homes, many of whom are stuck with 6 or 7 percent mortgage rates, to seek refinancing and take advantage of lower rates. The FHFA plans to remove caps that had allowed homeowners to refinance only if they owed up to 25 percent more than their homes are worth.

The refinancing program is being extended until the end of 2013. It was originally scheduled to end in June 2012.

The administration's incremental steps to help homeowners have prompted even the president's allies to demand more aggressive action.

Rep. Dennis Cardoza, a moderate Democrat from California, gave voice to Democratic frustration on the housing front last week when he announced his decision not to seek re-election, blaming the Obama administration directly for not addressing the crisis.

"I am dismayed by the administration's failure to understand and effectively address the current housing foreclosure crisis," Cardoza said in a statement that drew widespread attention. "Home foreclosures are destroying communities and crushing our economy, and the administration's inaction is infuriating."

Obama's new "We can't wait" slogan is his latest in a string of stump-speech refrains he hopes will pressure Republicans who oppose his $447 billion jobs package. He initially exhorted Congress to "Pass this bill!" then demanded "I want it back," all in the face of unanimous Republican opposition in the Senate, though even some Democrats were unhappy with the plan.

Obama has now agreed to break the proposal into its component parts and seek congressional approval one measure at a time. The overall proposal would increase taxes on millionaires, lower payroll taxes on workers and businesses for a year, pay for bridge, road and school construction projects, and help states and local governments retain teachers and emergency workers on the job.

Divvied up, the proposals with the best chance of passage are the payroll tax cuts and extensions in jobless insurance to the long-term unemployed.

Countering Obama's criticism, GOP leaders say the sluggish economy and stubbornly high unemployment rate are the result of failed Obama administration policies, including the 2009 stimulus package and financial regulation bill.

"They got everything they wanted from Congress the first two years," Senate Minority Leader Mitch McConnell, R-Ky., said Sunday. "Their policies are in place. And they are demonstrably not working."

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/f70471f764144b2fab526d39972d37b3/Article_2011-10-24-Obama/id-3f28fb2747b64ea39e71562308def044

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Analysis: Dragon tail risk: The cost of a China crash (Reuters)

(Reuters) ? The China hard-landing debate is a classic tail risk story -- an unlikely scenario, but if it materializes the consequences could be catastrophic.

Because of their close trade links, Malaysia, Singapore, South Korea, Taiwan and Hong Kong would be among the first to feel the pain should China's growth weaken dramatically.

However, it would probably take a shock even bigger than what followed the 2008 Lehman Brothers bankruptcy to spread significant damage beyond Asia.

Judging from the latest HSBC survey of China's manufacturing sector, released on Monday, there is no evidence that growth is collapsing in the world's second biggest economy.

Indeed, not one of the 30 economists polled by Reuters last week predicted China's 2012 growth rate would dip below 8 percent.

But that has not silenced speculation that China is heading for an economic disaster. Some economists have tried to calculate the potential fallout just in case their forecasts prove to be overly optimistic.

Bank of America-Merrill Lynch economists estimated that if China's real per capita gross domestic product fell by 2 percentage points, the pain would remain contained within Asia.

"It would take a severe shock to China for the negative spillovers to be transmitted beyond Asia," they wrote in a note last week to clients.

A 4 percentage point drop would be enough to spread to parts of Europe and the Middle East, with growth suffering in countries including Russia, Kuwait and Finland. Annual global growth would probably drop by 0.5 percentage points.

The last time China's economy recorded a decline anywhere close to that magnitude was after the Lehman bankruptcy. Year-over-year growth dropped to 6.8 percent in the fourth quarter of 2008, down from 9.0 percent in the prior three-month period.

A full-blown crash, which BofA-Merrill described as a 6 percentage point drop in China's real per capita GDP, would harm Europe's biggest economies -- Germany, France and Britain -- and even nick U.S. growth. It would probably shave 0.8 percentage points off global growth.

That would be a significant hit considering the International Monetary Fund thinks world output will be up a relatively modest 4 percent in 2012.

DOOMSDAY SCENARIO

BofA-Merrill considers the risk of a China crash negligible -- a 0.13 percent probability event.

But the China bears are growing louder in their warnings of an impending doom. China simply cannot rely on fixed-asset investment to drive 8-percent-plus growth forever, they argue.

Heavily indebted local governments could default. A property market crash may drive hundreds or even thousands of developers out of business. Bad loans may pile up on banks' books, and China could face an all-out credit crisis.

"China is undoubtedly a severely imbalanced economy, suffering from credit-fueled investment and housing excesses that could easily spin out of control and crash, just like all the other 'highly regarded' economic bubbles before it," Societe Generale strategist and well-known bear Albert Edwards wrote in an October 20 research note.

Jim Walker, founder of Hong Kong-based consultancy Asianomics, said it would be a "miracle" if China's 2012 GDP slows to just 7 percent.

"We're really looking for something much, much worse than that," he said. "China will be lucky to get away with 5 percent."

That would be a drop of more than 4 percentage points from 2011's expected growth. Not only would China's regional trade partners take a hit, but so would commodity exporters such as Australia and Indonesia. China accounted for 65 percent of the world's iron ore imports in 2009, and 15 percent of coal imports, according to IMF data.

LOOK ON THE BRIGHT SIDE

A China slowdown would bring some benefits for Asia, albeit small ones. Lower prices would bring welcome inflation relief for Asia's commodity importers, said Johanna Chua, chief Asia-Pacific economist for Citi in Hong Kong.

It might also swing a little bit more foreign investment toward other Southeast Asian economies that have struggled to compete with China for overseas funds.

China itself invested only about $2.4 billion last year into the 10 countries that make up the Association of South East Asian Nations, according to Bofa-Merrill economist Chua Hak Bin in Singapore, too little to pose a systemic threat on its own.

There is considerably more money flowing the other way. Since 1995, ASEAN has invested about $75 billion in China, with Singapore far and away the most exposed, accounting for $62 billion of that. A China hard landing could cause "significant" portfolio losses, BofA-Merrill's Chua said.

But it also looks clear that Beijing will act if growth looks likely to weaken dramatically. It has room to ramp up government spending, ease credit conditions, and slow the appreciation of the yuan currency to give exports a boost.

"If China is hard landing, I agree with the bulls on one thing: expect the authorities to become aggressively stimulative," SocGen's Edwards said.

(Reporting by Emily Kaiser in Singapore; Editing by Mathew Veedon)

Source: http://us.rd.yahoo.com/dailynews/rss/asia/*http%3A//news.yahoo.com/s/nm/20111024/bs_nm/us_economy_china

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সোমবার, ২৪ অক্টোবর, ২০১১

World stocks up on hopes of debt crisis resolution (AP)

MILAN ? World markets rose Monday as European leaders worked their way toward a long-awaited plan to fight the continent's 2-year-old debt crisis and China and Japan posted strong economic data.

European leaders failed to make tough decisions over the weekend, but pledged to unveil concrete plans by Wednesday. They are likely to include measures to recapitalize the region's banks, which are expected to accept steep losses on Greek debt, as well as boosting the eurozone bailout fund.

"All eyes are very much on European leaders' attempts to find a workable solution to the ongoing debt crisis," said Stan Shamu of IG Markets. He noted "encouraging signs of progress emerging over the weekend" helped boost early trading in stock markets."

Italian Premier Silvio Berlusconi ? who received stern words from the French and German leaders over the weekend ? has convened his Cabinet to come up with a package of plausible growth measures by Wednesday, as demanded by EU leaders. Italy is seen as the next likely victim in the debt crisis, but the third largest eurozone economy would be too expensive to bail out.

Confidence-building measures will be sorely needed as European economic indicators continue to point downwards.

A key survey on Monday showed that activity in the eurozone's private sector fell more than expected in October. Momentum in both manufacturing and services continued to weaken, with the so-called purchasing managers' index falling to 47.3 and 47.2 respectively. A figure below 50 denotes contraction.

Economists said it showed that overall economic contraction was possible in the eurozone in the fourth quarter, but traders largely overlooked the report to focus on the likelihood that a European crisis plan would be ready by another leaders' summit on Wednesday.

Britain's FTSE 100 gained 0.5 percent to 5,518.15 and Germany's DAX added 0.8 percent to 6,018.27. France's CAC-40 gained 0.3 percent to 3,179.16.

Wall Street was headed for another day of gains, with Dow Jones industrial average futures up 0.2 percent at 11,783 and S&P 500 futures rising 0.3 percent to 1,238.30.

Investor sentiment remains fragile, however, according to analysts at Credit Agricole CIB.

"Markets will remain nervous ahead of Wednesday's EU summit, hoping that officials can settle their differences and emerge with a concrete solution. In this respect, the risk of disappointment is high," the analysts told clients in a research note on Monday.

Asian shares closed with solid gains earlier in the day as economic data from Japan and China showed a measure of strength.

Japan's Nikkei 225 index added 1.9 percent to close at 8,843.98 after the government said exports grew for a second straight month in September. The country's trade suffered a five-month decline in the wake of the March 11 earthquake and tsunami that devastated northeast Japan.

Mainland Chinese shares rose after HSBC said its preliminary China Manufacturing Purchasing Managers Index, which measures industrial production, rose to 51.1 in October from 49.9 in September. A result above 50 indicates expansion but the preliminary indicator is often subject to substantial revision.

In currencies, the euro rose to $1.3867 from $1.3864 Friday in New York. The dollar rose to 76.17 yen from 76.12 yen.

Benchmark crude for December delivery was up 45 cents at $87.85 a barrel in electronic trading on the New York Mercantile Exchange. The contract rose $1.33 to settle at $87.40 in New York on Friday.

Brent crude was up 58 cents at $110.14 a barrel on the ICE Futures Exchange in London.

____

Pamela Sampson contributed from Bangkok.

Source: http://us.rd.yahoo.com/dailynews/rss/japan/*http%3A//news.yahoo.com/s/ap/20111024/ap_on_bi_ge/world_markets

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China's military in diplomatic charm offensive (AP)

BEIJING ? China may make its neighbors nervous with its robust military build-up, but it's also increasingly using the army as part of its charm offensive abroad.

The People's Liberation Army, in a cultural shift for an institution known for strident nationalism and unbending loyalty to the Communist Party, is expanding overseas aid missions and military exchanges in a major way. It sent 50 medics to flood-hit Pakistan this week and dispatched a hospital ship last month on a 105-day trip to poor nations in the Caribbean ? right in America's backyard.

The diplomatic push, part of a larger global campaign by the Chinese government, aims to portray China as a responsible rising power, while softening the image of the 2.3 million-member military and boosting its ties with other nations' armed forces.

"It's has been a big step for them, but China appreciates this as a part of the normal practices of respected major powers in their relations with other countries," said Ron Huisken of the Australian National University's Strategic and Defense Studies Center.

China's "soft power" drive also includes foreign aid, cultural exchange and a massive expansion of state television to reach foreign audiences ? all attempts to win friends and correct what China considers to be a biased Western portrayal of it.

The military took its first big stab at overseas disaster relief last year, sending helicopters to help out with floods in Pakistan. Last month, the air force flew 7,000 tents to the once-again flood-ravaged country and it is also shipping aid to flooded areas of Thailand.

The People's Liberation Army, or PLA, has also become the biggest contributor of manpower to U.N. peace keeping missions, and its navy is part of a multinational anti-piracy flotilla off the coast of Somalia.

The Peace Ark hospital ship, which sailed to the Horn of Africa last year, set off on Sept. 16 for Cuba, Jamaica, Trinidad and Tobago, and Costa Rica. More than 100 medical personnel are aboard for an operation dubbed Harmonious Mission 2011.

"The international community expects China to play such a role and that is part of China's foreign policy," said Xiong Zhiyong of the China Foreign Affairs University in Beijing.

Only recently has the PLA acquired the skills, equipement, and political will to carry out such missions.

Its previous inability to provide relief overseas was especially evident following the 2004 Asian tsunami.

While the U.S. Navy and other countries' militaries rapidly shipped in huge amounts of aid and personnel, and winning tremendous goodwill for their governments, China could do little more than send a medical team to Indonesia, along with tents and other supplies.

Overseas missions also help grow its ability to deal with domestic disasters, such as the massive 2008 Sichuan earthquake, Xiong said.

At home, students from across the developing world are increasingly coming to China to take two-year military command courses, while the PLA's University of Science and Technology has taken in a dozen army officer candidates from Laos, Mongolia, Turkmenistan and seven other countries.

The military's newspaper called that a sign the force is "integrating itself into the world with a much more open attitude."

Foreign military attaches are being granted more access to Chinese bases and training exercises, although much of that is carefully scripted. Top commanders have also began making more frequent visits abroad and participating in multinational forums such as the annual Shangri-La Dialogue in Singapore that attracts top defense officials from the U.S., Britain, and other major nations.

The exchanges are part of the PLA's effort to evolve into a modern force, right down to the introduction of smart new dress uniforms intended to break down the distinction between PLA officers and their Western counterparts.

The military has been upgrading its warplanes, ships and submarines, and began sea trials this summer on a refurbished Soviet aircraft carrier, demonstrating how a once-decrepit force seems determined to go toe-to-toe with the U.S. and other regional militaries.

While that modernization disconcerts the U.S. and China's neighbors, China says it's needed to defend its interests. Some analysts say military diplomacy is a way to show off its strength to potential rivals, while also joining in international relief efforts.

"There is little trust between China and the U.S. so China's recent response is to demonstrate its military capability, which also fits its commitment to helping the global community," said Ni Lexiong, a military expert at Shanghai University of Political Science and Law.

Humanitarian missions such as the dispatch of a hospital ship to Cuba also deliver a signal of China's military resolve to its own public without risking actual confrontations with the U.S. or others, Ni said.

"The enormous public pressure requires a response and this doubly demonstrates the Chinese navy's logistical capability," Ni said.

The U.S. military for its part has been generally supportive of the PLA's humanitarian drive, saying that boosts transparency and chances for peaceful interactions.

"As the Chinese military develops the capability to deliver medical and humanitarian assistance beyond its immediate region, there will be opportunities for the United States and China to collaborate and share," the Pentagon said in its most recent report to Congress on China's armed forces.

But on military exchanges, the PLA has yet to grasp the intrinsic value of strong ties, said Australian expert Huisken, citing the recent suspension of exchanges with the Pentagon over U.S. arms sales to Taiwan. It's unclear what if any exchanges have so far been suspended or canceled.

"It remains a relatively superficial program," he said. "We still don't have a clue what their real aspirations are."

Source: http://us.rd.yahoo.com/dailynews/rss/asia/*http%3A//news.yahoo.com/s/ap/20111021/ap_on_re_as/as_china_charm_offensive

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রবিবার, ২৩ অক্টোবর, ২০১১

Asus U56E-BBL6


Spotting a great laptop deal is a lot trickier than it used to be, what with all the models that differ by one or two features but sell for around the same low price. The Asus U56E-BBL6 ($699.99 list at Best Buy) picks up where its predecessor, the Asus U56E-BBL5 ($649.99 list, 4 stars), left off, a gorgeous aluminum desktop replacement laptop that runs on parts that you wouldn't expect in a cheap laptop. It's powered by a fast Intel Core i5 processor and includes cutting-edge features like USB 3.0 and Wireless Display 2.0 (WiDi 2.0). Its most impressive characteristic is that it ships with a battery bigger than any of its competitors, including the Lenovo IdeaPad V570-1066AJU ($629.99 direct, 4 stars). For this reason, it takes over as the Editors' Choice in our budget laptop category.

Design
Laptops in this price range typically resort to plastic housings and decorative art to cover the fact that they're made from plastic, a common design practice to pare down costs. Asus, however, doesn't take this path often with its laptop designs. As with the previous version, the U56E-BBL6 has an aluminum chassis that looks slightly bluish under a bright fluorescent lamp (but is actually gray). It's tougher, more resistant to scratching than the Gateway NV55S05u ($580 list, 4 stars) and Toshiba Satellite P755-S5215 ($719.99 list, 3 stars), and far more luxurious-looking as well. Though it isn't meant to be taken on the road, the U56E-BBL6's 5.6-pound frame is absolutely transportable and weighs about as much as the 5.4-pound Lenovo V570-1066AJU and 5.6-pound HP Pavilion dv6-6013cl ($649.99 list, 4.5 stars). If you're looking for the lightest budget desktop replacement laptops, the 4.9-pound Samsung NP300E5A is the lightest we've seen.

The 15.6-inch widescreen has a 1,366-by-768 resolution, which is boilerplate for most budget laptops. It's still a wealth of screen real estate, though, especially if you're the type who enjoys watching movies on a laptop or doing several things at a time. Spending extra money on the Dell XPS 15z ($1,534 direct, 4 stars) would give you higher resolutions, like 1,920-by-1,080. The typing experience is a real treat for those who are familiar with the Asus U-Series line, as the chiclet-style keys are raised to an ideal height. The better typing experience, however, belongs to the Lenovo V570-1066AJU, as its keys are curved with the shape of your fingers in mind. Still, the U56E-BBL6's keyboard is very responsive and complemented by a medium size touchpad and mouse buttons.

Features
WiDi 2.0 and WiMAX are two of the most notable features, since they're not often found in budget laptops. With WiDi 2.0, you can stream content from the U56E-BBL6 to a larger flat panel without the use of a physical cable. Being that it's the second iteration of Wireless Display, the laptop can now stream 1080p video (without choking), as well as protected content from your DVD collection. You need the Netgear HD Push2TV ($99 list) receiver to use it, though. Think of WiMAX (or 4G wireless) as a Wi-Fi connection that blankets an entire city. There are more than 60 cities that have WiMAX towers erected, including New York and San Francisco, and monthly rates are cheaper than many home DSL packages. WiDi 2.0 and WiMAX can also be found in the Lenovo V570-1066AJU and Samsung RV520-W01.

Its other standout features include a USB 3.0 port (the other two are USB 2.0 ports), and a 750GB, 5,400rpm hard drive, which should store all your digital memories for years to come. A DVD burner allows you to burn DVDs and watch the latest flicks from Netflix. There's also the standard laptop features, including HDMI, VGA, and Ethernet ports, and a media card reader.

Best Buy also has an extended warranty program, which offers customers an extra year of protection beyond the one-year warranty of most system manufacturers. There are two plans in this extended warranty program. The standard plan ($119.99) covers the system against normal wear and tear, power surge damage, and includes a "No Lemon" guarantee in which Best Buy will simply replace the computer if it requires more than 4 repairs during the coverage period. Best Buy's advanced plan ($219.99) offers all this, and also covers the system against accidental damage from drops and spills. Other special offers can be found online or in stores, like discounts on printers, software, and tech support plans which are available with any new consumer PC purchased through Best Buy.

Performance
Asus U56E-BBL6 The U56E-BBL6's processor is one of the speediest Intel Core i5s available, clocked at 2.4GHz. Paired with 6GB of memory, it helped the U56E-BBL6 dominate the Gateway NV55S05u (1,620), Samsung NP300E5A (1,866), and Toshiba P755-S5215 (1,926) in PCMark 7 (2,255), an overall performance gauge. The race was a lot tighter between the U56E-BBL6 and V570-1066AJU (since they use the same components) in tests like Cinebench R11.5 (2.68 vs 2.69) and Adobe Photoshop CS5 (4:02 vs 4:01). Like most budget laptops, 3D gaming is possible as long as you're willing to dial down the quality settings and screen resolution. The Gateway NV55S05u has a slight advantage in the gaming department since it runs an AMD Radeon graphics chipset instead of the usual Intel integrated stuff.

Battery performance is what tilted the scales in the U56E-BBL6's favor. It ships with the biggest battery (74Wh) compared with all of its peers, including the Lenovo V570-1066AJU (48Wh). Its 7 hours 42 minute score on MobileMark 2007 is a reflection of its battery capacity, as it outlasted the Lenovo V570-1066AJU (5:59), Toshiba P755-S5215 (5:01), and Gateway NV55S05u (4:54) by a landslide.

Given its impressive list of parts, it's a happy surprise to discover that the Asus U56E-BBL6 is a budget laptop. It has all the intangibles, including a fast Core i5 processor, cutting-edge features, and best-in-class battery life. More importantly, it's sold for a price few can pass on. That made it easy to give it the Editors' Choice for budget laptops

BENCHMARK TEST RESULTS

COMPARISON TABLE
Compare the Asus U56E-BBL6 with several other laptops side by side.

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শনিবার, ২২ অক্টোবর, ২০১১

With warped vision, Gadhafi maddened Libya, West

FILE - In this Saturday, June 12, 2010 file photo, Libyan leader Moammar Gadhafi talks during a ceremony to mark the 40th anniversary of the evacuation of the American military bases in the country, in Tripoli, Libya. The Associated Press is aware of reports that Moammar Gadhafi has been captured in Sirte. The chief spokesman for the revolutionary National Transitional Council Jalal el-Gallal and the council military spokesman Abdul-Rahman Busin told the AP that those reports are unconfirmed. (AP Photo/ Abdel Magid Al Fergany, File)

FILE - In this Saturday, June 12, 2010 file photo, Libyan leader Moammar Gadhafi talks during a ceremony to mark the 40th anniversary of the evacuation of the American military bases in the country, in Tripoli, Libya. The Associated Press is aware of reports that Moammar Gadhafi has been captured in Sirte. The chief spokesman for the revolutionary National Transitional Council Jalal el-Gallal and the council military spokesman Abdul-Rahman Busin told the AP that those reports are unconfirmed. (AP Photo/ Abdel Magid Al Fergany, File)

This image made available by the Al Jazeera television channel claims to show former Libyan leader Moammer Gadhafi, after he was killed at an undisclosed location in Libya, Thursday, Oct. 20, 2011. Libya's information minister said Gadhafi was killed Thursday when revolutionary forces overwhelmed his hometown, Sirte, the last major bastion of resistance two months after the regime fell. (AP Photo/Al Jazeera)

FILE - In this Monday, Nov. 3, 2008 file photo, Libya's leader Moammar Gadhafi attends a wreath laying ceremony in the Belarus capital Minsk. The Associated Press is aware of reports that Moammar Gadhafi has been captured in Sirte. The chief spokesman for the revolutionary National Transitional Council Jalal el-Gallal and the council military spokesman Abdul-Rahman Busin told the AP that those reports are unconfirmed. (AP Photo/Sergei Grits, File)

FILE - In this Saturday, Oct. 9, 2010 file photo, Libyan leader Moammar Gadhafi chairs the Arab summit in Sirte, Libya. The Associated Press is aware of reports that Moammar Gadhafi has been captured in Sirte. The chief spokesman for the revolutionary National Transitional Council Jalal el-Gallal and the council military spokesman Abdul-Rahman Busin tell the AP that those reports are unconfirmed. (AP Photo/Amr Nabil, File)

FILE - In this Thursday, Sept. 8, 2011 file photo, a portrait depicting Libya's former ruler Moammar Gadhafi is riddled with bullet marks and vandalized with paint on a wall in Tripoli, Libya. NATO confirms it hit a convoy of Moammar Gadhafi's loyalists fleeing Sirte as the city fell Thursday, but there are conflicting reports whether the ousted Libyan leader was in the convoy or possibly killed or captured.(AP Photo/Francois Mori, File)

(AP) ? During nearly 42 years in power, Moammar Gadhafi ruled with an eccentric brutality. He was so mercurial he turned Libya into an isolated pariah, then an oil power courted by the West, then back again. At home, his whims became law and his visions became a warped dictatorship, until he was finally toppled by his own people.

The modern Middle East's longest-reigning figure, Libya's 69-year-old "Brother Leader" became the first ruler killed in the Arab Spring uprisings that swept the region this year.

After rebels overwhelmed the capital Tripoli and drove him into hiding in late August, Gadhafi vowed in messages to fight on until "martyrdom or victory" and to "burn Libya under the feet" of his enemies. And indeed, he met his end Thursday alongside his last heavily armed supporters, cornered by revolutionary fighters in Sirte, the fishing village where he was born and which he transformed during his rule into a virtual second capital city.

In the last images of him alive, a wounded Gadhafi staggered and shouted at fighters dragging him away after pulling him out of a drainage tunnel where he took refuge trying to flee Sirte with loyalists. His goateed face was bloodied, his head balding after the loss of the hairpiece that filled out his trademark bush of curly hair.

"What do you want? Don't kill me, my sons," Gadhafi said to the fighters as they grabbed him, one commander said.

Gadhafi leaves behind an oil-rich nation of 6 million traumatized by a rule that drained it of institutions after four decades when all issues came down to one man and his family. Notorious for his extravagant outfits ? ranging from white suits and sunglasses to military uniforms with frilled epaulets to brilliantly colored robes decorated with the map of Africa ? he styled himself as a combination Bedouin chief and philosopher king, with titles from "leader of the revolution" to "king of the kings of Africa."

He ruled by mad lurches. He was a sponsor of terrorism whose regime was blamed for blowing up two passenger jets and who then helped the U.S. in the war on terror. He was an Arab nationalist who mocked Arab rulers. He seemed to revel in infuriating leaders, whether in the West or the Middle East.

U.S. President Ronald Reagan branded him a "mad dog" after a 1986 bombing that killed U.S. servicemen in Berlin was blamed on Libya. Former Egyptian President Anwar Sadat, who fought a border war with Libya in the 1970s, wrote in his diary that Gadhafi was "mentally sick" and "needs treatment."

Behind the flamboyance and showmanship, associates say Gadhafi was meticulous in managing the levers of power. He intervened in decisions large and small and constantly met personally with tribal leaders and military officers whose support he maintained through lucrative posts.

The sole constant was his grip on the country. Numerous coup and assassination attempts against him over the years mostly ended with public executions of the plotters, hanged in city squares.

The ultimate secret of his longevity lay in the vast oil reserves under his North African desert nation and in his capacity for drastic changes of course when necessary.

The most spectacular U-turn came in late 2003. After years of denial, Libya acknowledged responsibility ? though in a Gadhafi-esque twist of logic, not guilt ? for the 1988 bombing of Pan Am Flight 103 over Lockerbie, Scotland, that killed 270 people. He agreed to pay up to $10 million to relatives of each victim.

He also announced that Libya would dismantle its nuclear, chemical and biological weapons programs under international supervision.

The rewards came fast. Within months, the U.S. lifted economic sanctions and resumed diplomatic ties. The European Union hosted Gadhafi in Brussels. Secretary of State Condoleezza Rice in 2008 became the highest-ranking U.S. official to visit the country in more than 50 years. Rice had a special place in the heart for Gadhafi, who in an interview once called her "my darling black African woman ... I love her very much ... Leezza, Leezza, Leezza." Tony Blair, as British prime minister, also visited him in Tripoli.

International oil companies rushed to invest in Libya's fields. Documents uncovered after Gadhafi's fall revealed close cooperation between his intelligence services and the CIA in pursuing terror suspects after the 9/11 attacks, even before the U.S. lifted its designation of Libya as a sponsor of terror in 2006.

Still, Gadhafi's renegade ways did not change. After Swiss police had the temerity to briefly arrest his son Hannibal for allegedly beating up two servants in a Geneva luxury hotel in 2008, Gadhafi's regime arrested two Swiss nationals and raked Switzerland over the coals, extracting an apology and compensation before finally releasing the men nearly two years later. European countries, eagerly building economic ties with Libya, did little to back up Switzerland in the dispute.

But Gadhafi became an instant pariah once more when he began a brutal crackdown on the February uprising in his country that grew out of the "Arab Spring" of popular revolts across the region. The U.N. authorized a no-fly zone for Libya in March, and NATO launched a campaign of airstrikes against his military forces.

"I am a fighter, a revolutionary from tents. ... I will die as a martyr at the end," he proclaimed in one of his last televised speeches during the uprising, pounding the lectern near a sculpture of a golden fist crushing a U.S. warplane.

Gadhafi was born in 1942 in the central Libyan desert near Sirte, the son of a Bedouin father who was once jailed for opposing Libya's Italian colonialists. The young Gadhafi seemed to inherit that rebellious nature, being expelled from high school for leading a demonstration, and disciplined while in the army for organizing revolutionary cells.

In 1969, as a mere 27-year-old captain, he emerged as leader of a group of officers who overthrew the monarchy of King Idris. A handsome, dashing figure in uniform and sunglasses, Gadhafi took undisputed power and became a symbol of anti-Western defiance in a Third World recently liberated from its European colonial rulers.

During the 1970s, Gadhafi proceeded to transform the nation.

A U.S. air base was closed. Some 20,000 Italians were expelled in retaliation for the 1911-41 occupation. Businesses were nationalized.

In 1975 he published the "Green Book," his political manifesto that laid out what he called the "Third International Theory" of government and society. He declared Libya to be a "Jamahiriya" ? an Arabic neologism he created meaning roughly "republic of the masses."

Everyone rules, it declared, calling representative democracy a form of tyranny, and Libyans were organized into "people's committees" that went all the way up to a "People's Congress," a sort of parliament.

In the end, rule by all meant rule by none except Gadhafi, who elevated himself to colonel and declared himself "Brother Leader."

"He aspired to create an ideal state," said North African analyst Saad Djebbar of Cambridge University. "He ended up without any components of a normal state. The 'people's power' was the most useless system in the world."

In the 1970s and 1980s, Gadhafi supported groups deemed by the West to be terrorists ? from the Irish Republican Army through various radical Palestinian units to militant groups in the Philippines. He embarked on a series of military adventures in Africa, invading Chad in 1980-89, and supplying arms, training and finance to rebels in Liberia, Uganda and Burkina Faso.

A 1984 incident at the Libyan Embassy in London entrenched his regime's image as a lawless one. A gunman inside the embassy opened fire on a demonstration by Gadhafi opponents outside, killing a British policewoman.

The heat was rising, meanwhile, between the Reagan administration and Gadhafi over terrorism. In 1986, Libya was found responsible for a bombing at a Berlin discotheque frequented by U.S. troops in which three people died. America struck back by sending warplanes to bomb Libya. About 40 Libyans died.

The Lockerbie bombing followed in 1988, followed a year later by a bombing that downed a French airliner over the West African nation of Niger. The West was outraged, and years of sanctions followed.

Libya's road back from pariah status began in 1999, when Gadhafi's government handed over two Libyans for trial in the Lockerbie bombing. In 2001, a Scottish court convicted one, an intelligence agent, and sentenced him to life imprisonment. The other was acquitted.

In 2002, Gadhafi looked back on his actions and told a crowd of Libyans in the southern city of Sabha: "In the old days, they called us a rogue state. They were right in accusing us of that. In the old days, we had a revolutionary behavior."

Throughout his rule, he was a showman who would stop at nothing to make his point.

His appearances at Arab League summits were an annual cause of cringing among fellow Arab rulers. At one, he argued vehemently with Saudi Arabia's King Abdullah, winning the monarch's eternal hatred. At another, Gadhafi smoked cigars on the conference hall floor during speeches to show his contempt.

In a 2009 address at the United Nations, he rambled on about jet lag, then tore up a copy of the U.N. charter, saying the Security Council "should be called the terrorism council."

On state trips, he would insist on setting up a tent to stay in. He sported a personal escort of female guards ? which he once explained by saying: "There are no men in the Arab world."

A 2009 U.S. diplomatic cable released by the website WikiLeaks spoke of Gadhafi's intense dislike of staying on upper floors of buildings, aversion to flying over water, and taste for horse racing and flamenco dancing.

"At night, Moammar dreams; by day, he implements," Libyans would say, referring to the bizarre rules Gadhafi would randomly impose on the country, like demanding all storefront doors be painted green, the signature color of his regime. Or like complaining that Libyans were going abroad for medical treatment and deciding it was because of a lack of Libyan doctors ? so he ordered Tripoli's main medical school to take 2,000 new students regardless of qualifications, well beyond its 150-student capacity.

He even renamed the months, calling the cold month of January "Ayn al-Nar," Arabic for "Where is the Fire."

In the past decade, power was increasingly concentrated with his eight biological children, who snapped up elite military posts or lucrative business positions. His British-educated son Seif al-Islam was widely seen as being groomed as a successor. There was no immediate word on his fate Thursday.

His only daughter, Aisha, became a lawyer and helped in the defense of Saddam Hussein, Iraq's toppled dictator, in the trial that led to his hanging.

Gadhafi did spend oil revenue on building schools, hospitals, irrigation and housing on a scale his Mediterranean nation had never seen.

"He did really bring Libya from being one of the most backward and poorest countries in Africa to becoming an oil-rich state with an elaborate infrastructure and with reasonable access by the Libyan population to the essential services they required," said George Joffe of Cambridge University.

Still, about a third of Libya's people remain in poverty. Gadhafi showered benefits on parts of the country, such as Tripoli. Meanwhile, eastern Libya, ultimately the source of February's rebellion, was allowed to atrophy.

At least one of his sons, Saif al-Arab, was killed during the 2011 uprising, and another, Khamis, was believed killed. Others, along with his wife Safiya, fled to neighboring Algeria or Niger. Seif al-Islam and Muatassim, who commanded one the military units involved in the crackdown on protesters, fled into hiding when Tripoli fell.

___

Keath reported from Cairo. Christopher Gillette in Sirte and Rami al-Shaheibi in Tripoli contributed to this report.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/3d281c11a96b4ad082fe88aa0db04305/Article_2011-10-20-ML-Obit-Gadhafi/id-2ef8a9f3c06b45149f91b4c244ac11ac

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Ailing Stern to miss Thursday negotiations

BC-BKN--NBA Labor, 12th-Ld Writethru,1020NBA labor talks turn nasty as negotiations endAP Photo NYMA108, NYLL101, NYMA101, NYRD105, NYLL105Eds: New approachBy BRIAN MAHONEYAP Basketball Writer

NEW YORK (AP) ? Three days and 30 hours' worth of talks ended on a nasty note Thursday in NBA labor negotiations. And only one thing seemed fairly certain: more games were likely to be cut. Possibly even the season.

Players insist that's the outcome owners wanted all along ? "preordained," as union executive director Billy Hunter said.

"We've always felt there was still a place where they would just not go and they would lock us out as long as it would take in order to get us beyond that place. There was never really a willingness to negotiate beyond certain points," union president Derek Fisher of the Lakers said. "There was just a line drawn, and regardless of what's going on, how many times we meet, 'we're not going past that.'"

After 30 hours of negotiations before a federal mediator, the sides remained divided over two main issues ? the division of revenues and the structure of the salary cap system.

"We understand the ramifications of where we are," Deputy Commissioner Adam Silver said. "We're saddened on behalf of the game."

Without a deal, NBA Commissioner David Stern, who missed Thursday's session with the flu, almost certainly will decide more games must be dropped.

The season was supposed to begin Nov. 1, but all games through Nov. 14 ? 100 in total ? already have been scrapped, costing players about $170 million in salaries.

Stern said previously that games through Christmas were in jeopardy without a deal this week. Silver said the labor committee would speak with Stern on Friday about the future schedule, though no further cancellations are expected yet.

Silver said he was a little more optimistic than usual going into the talks, but the union later accused him of lying, with Hunter saying: "They knew when they presented what they were presenting to us that it wasn't going to fly."

The union said owners essentially gave it an ultimatum to accept a 50-50 split of revenues. Attorney Jeffrey Kessler said the meeting was "hijacked."

"We were shocked," he said. "We went in there trying to negotiate and they came in and they said you either accept 50-50 or we're done and we won't discuss anything else."

Both sides praised federal mediator George Cohen and said they felt there was some progress on minor issues at the start of the talks. But it was clear by the time talks broke down that there were bad feelings.

"We've spent the last few days making our best effort to try and find a resolution here. Not one that was necessarily a win-win. It wouldn't be a win for us. It wouldn't be a win for them. But one that we felt like would get our game back ... and get our guys back on the court, get our vendors back to work, get the arenas open, get these communities revitalized," Fisher said.

"And in our opinion, that's not what the NBA and the league is interested in at this point. They're interested in telling you one side of the stories that are not true and this is very serious to us. This is not in any way about ego. There are a lot of people's livelihoods at stake separate from us."

Hunter said the union made "concession after concession after concession ... and it's just not enough."

"We're not prepared to let them impose a system on us that eliminates guarantees, reduces contract lengths, diminishes all our increases," he said. "We're saying no way. We fought too long and made too many sacrifices to get where we are."

Previously each side had proposed receiving 53 percent of basketball-related income after players were guaranteed 57 percent under the previous collective bargaining agreement.

Silver said the league formally proposed a 50-50 revenue split Wednesday. The union said its proposal would have been a band that would have allowed it to collect as much as 53 percent but no less than 50, based on the league's revenues.

"Hopefully, we can get back to the table, but certainly a tough day, a very tough day," said Peter Holt, the labor relations committee chair and owner of the San Antonio Spurs.

Asked whether the players would drop to 50 percent, Holt said he didn't think it was that big of a jump but that the union did.

He said the league would not go above 50 percent "as of today. But never say never on anything."

Hunter said Cleveland owner Dan Gilbert told players to trust that if they took the 50-50 split, the salary cap issues could be worked out.

Hunter's response?

"I can't trust your gut. I got to trust my own gut," he said. "There's no way in the world I'm going to trust your gut on whether or not you're going to be open and amenable to making the changes in the system that we think are necessary and appropriate."

Owners and players met with Cohen for 16 hours Tuesday, ending around 2 a.m. Wednesday, then returned just eight hours later and spent another 8? hours in discussions. The sides then met for about five hours Thursday, before calling it quits.

"Am I worried about the season, per se? Yeah. But I'm more so worried about us standing up for what we believe in," New Orleans Hornets guard Jarrett Jack said. "I think that's the bigger issue at hand."

Cohen didn't recommend that the two sides continue the mediation process as they weren't able to resolve the "strongly held, competing positions that separated them on core issues."

Though the sides have said they believe bargaining is the only route to a deal, the process could end up in the courts. Each brought an unfair labor practice charge against the other with the National Labor Relations Board, and the league also filed a federal lawsuit against the union attempting to block it from decertifying.

Union officials, so far, have been opposed to decertification, a route the NFL players initially chose during their lockout.

However, Hunter said Thursday that "all of our options are on the table. Everything."

___

Follow Brian Mahoney on Twitter: http://www.twitter.com/Briancmahoney

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/347875155d53465d95cec892aeb06419/Article_2011-10-20-NBA%20Labor/id-9a785cac94924fbfa6bc88cb8153dbd7

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বুধবার, ১৯ অক্টোবর, ২০১১

Yahoo ad exec deflects talk about becoming CEO (AP)

SAN FRANCISCO ? The head of Yahoo's online advertising business in North America said Monday he has been too busy trying to bring in more revenue to consider whether he would be willing to become the struggling Internet company's next CEO.

Ross Levinsohn, Yahoo Inc.'s executive vice president of Americas, made his remarks during the kick-off of the Web 2.0 Summit. That's a three-day Internet conference that annually attracts prominent technology executives.

The conference got off to a rocky start with the cancellation of two of Monday's scheduled speakers.

Mark Pincus, CEO and founder of Web Zynga Inc., didn't show up because he didn't want to risk saying anything that might rile government regulators and complicate the company's efforts to raise $1 billion in an initial public offering of stock that has been in the works for nearly four months. Intel Corp. CEO Paul Otellini cancelled because he wasn't feeling well.

Levinsohn's appearance held intrigue because of the drama swirling around Yahoo since its board fired Carol Bartz as CEO last month. Tim Morse, Yahoo's chief financial officer, is temporarily running the company while the board undergoes a strategic review. The directors are evaluating whether it makes sense to hire a permanent CEO or sell Yahoo in parts or in its entirety.

If Yahoo decides to hire from within, Levinsohn will likely be a leading candidate. After making his mark running News Corp.'s online operations under media mogul Rupert Murdoch, Levinson spent several years running a digital media investment fund. Bartz lured Levinsohn to Yahoo 11 months ago.

In response to a question in his Monday appearance, Levinsohn said he is focusing more on reviving Yahoo's revenue growth than a possible promotion.

"I have an incredible job now," he said. "This is the best job I've ever had."

Levinsohn deflected a question about the possibility of Yahoo being sold. In recent weeks, there has been repeated speculation that the company might be sold to an assortment of buyout firms that prey upon troubled companies. Alibaba Group, a Chinese Internet company of which Yahoo owns a 43 percent stake, has expressed interest if it can line up the financing for a deal that would likely require a bid of more than $20 billion. Microsoft Corp., which offered to buy Yahoo for $47.5 billion in 2008 before withdrawing the bid, also has been mentioned as a possible suitor.

The takeover talk will hang over Yahoo's schedule release of its third-quarter earnings Tuesday afternoon. The results are expected to show Yahoo's revenue is still declining as online advertisers spend more money with Internet search leader Google Inc. and Facebook's steadily growing social network.

Despite the challenges facing Yahoo, Levinsohn said he remains "incredibly bullish" on the company.

Source: http://us.rd.yahoo.com/dailynews/rss/tech/*http%3A//news.yahoo.com/s/ap/20111018/ap_on_hi_te/us_yahoo_web_summit

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Officials, banks to tackle mortgage refinancing plan: report (Reuters)

(Reuters) ? Officials and big banks are working on a plan that would make refinancing available to some borrowers whose houses are worth less than their loans, so long as they are current on mortgage payments, the Wall Street Journal reported.

Such borrowers typically are not able to refinance because they lack equity in their homes. The plan would apply only to mortgages owned by the banks, the Journal said, citing people familiar with the matter.

Federal officials have been trying to broker a settlement with the five largest mortgage servicers - Ally Financial Inc, Bank of America, Citigroup Inc, J.P. Morgan Chase and Wells Fargo & Co -- the Journal said.

It is not clear how many borrowers would qualify for help, the paper added.

Officials are pushing for a plan in a bid to break a legal impasse with big banks over alleged foreclosure abuses and ease problems in the housing market, the paper said.

Discussions are still fluid and any final outcome is uncertain. Talks between government officials and the banks are expected to continue this week, the newspaper said.

JPMorgan declined to comment to Reuters on the Journal report. Reuters could not immediately reach the other four lenders for comment outside regular U.S. business hours.

(Reporting by Sakthi Prasad in Bangalore; Editing by Vinu Pilakkott)

Source: http://us.rd.yahoo.com/dailynews/rss/personalfinance/*http%3A//news.yahoo.com/s/nm/20111018/bs_nm/us_usgovt_mortgagerefinancing

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