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Facebook poised to roll out more privacy controls

Written By Unknown on Kamis, 13 Desember 2012 | 00.32

SAN FRANCISCO — Facebook is trying to make its privacy controls easier to find and understand in an effort to turn the world's largest social network in to a more discreet place.

The fine-tuning announced Wednesday will include several revisions that will start rolling out to Facebook's more than 1 billion users during the next few weeks and continue into early next year.

The most visible, and perhaps most appreciated, change will be a new "privacy shortcuts" section that appears as a tiny lock on the right-hand side at the top of people's news feeds. This feature offers a drop-down box where users can get answers to common questions such as "Who can see my stuff?" and "How do I stop someone from bothering me?"

Other updates will include a tool that enables individuals to review all the publicly available pictures identifying them on Facebook and suggestions on how to request that an embarrassing or unflattering photograph be removed. Facebook also plans to plant a privacy education page at the top of its users' news feeds within the next month or so to help them better manage their online identities.

This marks the most extensive overhaul of Facebook's privacy controls in about 15 months.

The new controls are an implicit acknowledgement by Facebook that the nearly 9-year-old service hasn't always done the best job providing its users with easily accessible ways to corral the information and photos being posted on the website.

Facebook's critics suspect the social network deliberately obfuscated its privacy controls as part of a scheme to expose as much personal information as possible to help the company attract more advertisers.

But that has never been the case, according to Samuel Lessin, Facebook's director of product management. "Our number one priority is to not surprise users with our controls," he said.

Facebook Inc., which is based in Menlo Park, Calif., began paying more attention to its privacy controls and reputation as it matured into one of the world's best-known companies. The scrutiny has intensified since Facebook became a publicly traded company seven months ago.

Some of the upcoming changes reflect Facebook's ambition to establish its website as a digital scrapbook that will contain key moments spanning many decades of its users' lives.

The new photo-reviewing tool is designed to make it easier for someone to flag old pictures that might not seem as cool as they once did. For instance, a Facebook user who didn't mind being shown quaffing beer from a keg as an 18-year-old in college might not feel comfortable having that image publicly available as a 30-year-old looking for a job or starting a family.

Facebook rarely will remove a photo on its own, but one of its new features helps users ask a friend who posted the image to take it down.

Facebook is reshuffling its privacy controls the same week that it revoked its users' right to vote on changes to the social network's privacy policies. Lessin said the timing is purely coincidental.

© Copyright 2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.


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Enterprise, Patriot Ledger publisher Rick Daniels stepping down

Rick Daniels, president of GateHouse Media New England and publisher of The Enterprise of Brockton and The Patriot Ledger, will step down from his post at the end of the year, according to news reports.

Daniels plans to pursue investment and advisory roles for media companies, the Patriot Ledger reported, adding a successor has not yet been named.

GateHouse Media New England oversees six daily newspapers, more than 90 weekly newspapers and 150 websites. A spokesperson could not be immediately reached for comment.


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Pfizer to pay $55 million in drug misbranding case

WASHINGTON — The Justice Department says Pfizer Inc. will pay $55 million to resolve allegations that Wyeth LLC promoted the drug Protonix for uses that were not approved by the Food and Drug Administration. Pfizer acquired Wyeth in October 2009.

Wyeth obtained FDA approval to promote Protonix only for short-term treatment of erosive esophagitis. The condition is associated with gastro-esophageal reflux disease. Wyeth allegedly promoted Protonix for all forms of GERD from February 2000 to June 2001.

GERD is a condition in which food or liquid leak backwards from the stomach into the esophagus.

© Copyright 2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.


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Stocks edge higher as Fed ends two-day meeting

NEW YORK — Stocks edged higher, extending a winning streak, as investors awaited news on whether the Federal Reserve will announce more bond purchases to stimulate the U.S. economy. Wall Street also watched for developments from budget talks in Washington.

The Dow Jones industrial average was up 13 points at 13,262 as of 10:50 a.m. in New York. The Standard and Poor's 500 was up two points at 1,432. The Nasdaq composite was up 0.2 points at 3,022.

The U.S. central bank is expected to announce a revamped bond-buying plan at the end of a two-day policy meeting Wednesday to help hold down interest rates and encourage borrowing. The expectation is that the Fed will unveil a program Wednesday to buy $45 billion a month in long-term Treasurys. That would replace a program that expires at the end of the year.

In Washington, lawmakers are still trying to reach a deal to avoid the "fiscal cliff," a series of sharp tax increases and spending cuts that will hit the economy in January if Congress and President Barack Obama are unable to thrash out an agreement to reduce the U.S. budget deficit.

House Speaker John Boehner and Obama spoke on the phone Tuesday, a day after the president offered to reduce his initial demand for $1.6 trillion in higher tax revenue over a decade to $1.4 trillion. Obama continues to insist that much of the revenue comes from raising top tax rates on the wealthy.

Both the Dow and the S&P have advanced for the past five days as optimism increased that a deal can be struck. The S&P is trading at its highest in five weeks and has now erased all of its post-election losses. Stocks fell immediately after the vote Nov. 6 on concern that a divided government would struggle to resolve the budget issue.

"There's some optimism that we are going to have some sort of an agreement on the cliff before December 31," said JJ Kinahan, Chief Derivatives Strategist for TD Ameritrade. More Fed stimulus is "pretty much mostly priced in," he said, because policymakers would be unlikely to risk disappointing market expectations given the concerns about the unresolved fiscal situation.

Chemicals giant DuPont advanced 81 cents to $44.48 after the company unveiled plans to buy back up to $1 billion of its shares next year and said that profit for this year will reach the high end of its forecasts.

The yield on the 10-year Treasury note was little changed 1.66 percent.

Other stocks making big moves:

—Eli Lilly and Co. fell $1.57 to $49.03 after the Indianapolis drugmaker it will conduct the additional, late-stage study of its possible Alzheimer's treatment solanezumab. The move delays a regulatory decision on a drug that flashed potential to help patients with mild cases of the disease.

—Health insurer Aetna Inc. rose $1.93 to $46.40 after the company said late Tuesday that it expects sales and profit to grow next year.

© Copyright 2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.


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Report: E-reader sales plunge as tablets take over

NEW YORK — Sales of dedicated e-reading devices like the black-and-white Kindles are in an "alarmingly precipitous decline" this year after five years of rapid growth, research firm IHS iSuppli says.

Full-blown tablets with color screens are behind the decline, the firm says. Amazon.com Inc. now sells tablets under the Kindle brand, and Barnes & Noble Inc. has added tablets to its Nook e-reader line.

IHS expects shipments of e-readers to fall from 23.2 million last year to 14.1 million this year.

The rapid rise and now rapid decline of e-readers is unusual even for the volatile consumer electronics industry, says IHS analyst Jordan Selburn, but it's indicative of the broader trend of single-purpose devices like e-readers and cameras losing out to general-purpose ones like tablets and smartphones.

© Copyright 2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.


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Mass. ranks fifth for semiconductor industry jobs

When it comes to semiconductor industry jobs, Massachusetts ranks fifth in the nation, according to the Semiconductor Industry Association.

California leads all states with 47,100 semiconductor jobs, followed by Texas with 28,800, Oregon with 23,400 and Arizona with 18,800. The Bay State currently has 10,100 semiconductor jobs, besting New York by 2,500 jobs.

Rounding out the top 10 are Idaho (7,400), Florida (7,100), Vermont (5,100) and New Mexico (4,500). All employment figures reflect 2011 data from the U.S. Bureau of Labor Statistics.

The U.S. semiconductor industry's workforce grew by 3.7 percent over the previous year, according to the BLS. In November, SIA said total direct semiconductor employment in the United States is estimated at 244,800 jobs.


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State charges LPL Financial with limits, ethics violations

LPL Financial LLC of San Diego was charged today with failing to supervise agents who sold investments in non-traded real estate investment trusts in violation of both state limitations and the company's own rules, according to Secretary of the Commonwealth William F. Galvin.

LPL, which has a principal local place of business at 75 State St., is also charged with dishonest and unethical business practices, Galvin said. An administrative complaint seeks a cease and desist order against LPL, a censure and full restitution to those investors who were sold these instruments in violation of state regulations and the requirements of the REIT prospectus.

A probe by the Securities Division found 597 transactions by state residents in seven REITs with over $28 million invested, on which sales LPL received at least $1.8 million in commissions from 2006 through 2009. A total of 569 transactions had regulatory violations, including sales made in violation of Massachusetts' 10 percent concentration limitations; sales made in violation of prospectus requirements; and sales made in violation of LPL compliance practices.

REITs own and manage income-producing property or are involved in real estate financing. Non-traded REITs have limited redemption programs, and high fees and commissions that range between 15 and 18 percent.


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Pfizer to pay $55M to settle Wyeth illegal Protonix marketing case

Pfizer Inc. will shell out $55 million plus interest to resolve allegations that Wyeth, a company acquired by the drug maker in 2009, illegally marketed a misbranded drug for off-label use, federal prosecutors in Boston said today.

Wyeth manufactured and promoted Protonix, a proton pump inhibitor used by physicians to treat various forms of gastro-esophageal reflux disease, prosecutors said. Wyeth allegedly sought and obtained approval from the U.S. Food and Drug Administration to promote Protonix for short-term treatment of erosive esophagitis, a condition associated with GERD that can only be diagnosed with an invasive endoscopy.

Under the Federal Food Drug and Cosmetic Act, a drug is misbranded if its labeling does not bear adequate directions for safe use and for the purposes for which it is intended. Before Wyeth even began promoting Protonix, the FDA warned the company its proposed promotional materials were misleading. Despite this, the company allegedly trained its sales force to promote the drug for all forms of GERD, prosecutors said.

Wyeth also promoted the drug as the "best PPI for nighttime heartburn," even though no clinical evidence supported that claim, prosecutors said, adding the company also used continuing medical education programs to promote Protonix for unapproved uses.

Wyeth allegedly introduced and caused the introduction into interstate commerce of Protonix between February 2000 and June 2001, prosecutors said, adding the claims settled by the agreement are allegations only, ones which Pfizer denies.


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Harvard Bioscience shares rise 17 percent on IPO spinout

Shares of Harvard Bioscience Inc. spiked more than 17 percent today to a high of $4.46 in the wake of a subsidiary of the Holliston-based company filing plans to raise up to $20 million in an initial public offering of its stock.

Harvard Bioscience shares closed yesterday at $3.79.

The business, called Harvard Apparatus Regenerative Technology Inc., is developing "bioreactor" devices that doctors can use to grow organs outside the body for transplant patients.

After the IPO, Harvard Bioscience will own at least 80 percent of the shares and eventually spin off the business to its own stockholders.

The subsidiary, incorporated in May, has tested a "synthetic scaffold" that can be used to create a replacement trachea. The technology has been used in "six successful human airway transplant surgeries," the company said in its IPO prospectus filed with the Securities and Exchange Commission.

Harvard Bioscience said it's on track to gain Food and Drug Administration approval for trachea transplant products by the end of 2016 and enter a potential market of more than $300 million annually.

The company also believes the technology can be used to regenerate other organs.

Additional details about the IPO shares and prices were not available.


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NJ girl to meet with Easy-Bake team at Hasbro

PROVIDENCE, R.I. — A New Jersey girl who started a campaign calling for an Easy-Bake Oven in gender-neutral colors is planning to meet with the people who design it.

Toy maker Hasbro says it has invited 13-year-old McKenna Pope and her family to meet with the Easy-Bake team Monday at its Pawtucket headquarters.

Hasbro's Julie Duffy says they invited McKenna in to listen to her thoughts and ideas.

McKenna was prompted to start an online petition after she wanted to buy an Easy-Bake Oven for her 4-year-old brother and found them only in purple and pink. Several top chefs, including Bobby Flay, have since asked Hasbro to make them in more colors.

Duffy says Hasbro has made the toy in gender-neutral colors in the past and believes it's great for girls and boys.

© Copyright 2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.


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Business - BostonHerald.com

Written By Unknown on Kamis, 06 Desember 2012 | 00.32

Business - BostonHerald.comBusiness - BostonHerald.com

http://www.bostonherald.com/business/?srvc=rss The Boston Herald online: The closest distance between you and the news en-us Copyright 2012, Herald Interactive, Inc. Wed, 05 Dec 2012 12:28:16 -0500 systems@heraldinteractive.com (Web Developers) 120 http://cache.heraldinteractive.com/images/siteImages/rss_logo.jpg http://www.bostonherald.com/business/?srvc=rss 100 48 The Boston Herald online: The closest distance between you and the news http://www.bostonherald.com/business/general/view.bg?articleid=1061179718&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061179718&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061179718&srvc=rss BOSTON - Sluggish economic growth will continue in New England, with much of the region not seeing a return to... business Wed, 05 Dec 2012 12:05:52 -0500 http://www.bostonherald.com/business/real_estate/view.bg?articleid=1061179557&srvc=rss http://www.bostonherald.com/business/real_estate/view.bg?articleid=1061179557&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/real_estate/view.bg?articleid=1061179557&srvc=rss A West Coast developer that's busy building a rental high-rise in Boston's Fort Point neighborhood has taken over... business Wed, 05 Dec 2012 12:00:08 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061179715&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061179715&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061179715&srvc=rss American Express had the "black card." Now, Starbucks has the "metal card." Java lovers with deep pockets will... business Wed, 05 Dec 2012 11:50:28 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061179714&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061179714&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061179714&srvc=rss WASHINGTON - A federal appeals court is considering whether President Barack Obama violated the Constitution earlier... business Wed, 05 Dec 2012 11:41:25 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061179708&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061179708&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061179708&srvc=rss NEW YORK - Another Starbucks may soon pop up around the corner, with the world's biggest coffee company planning... business Wed, 05 Dec 2012 11:24:39 -0500 http://www.bostonherald.com/business/technology/general/view.bg?articleid=1061179698&srvc=rss http://www.bostonherald.com/business/technology/general/view.bg?articleid=1061179698&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/technology/general/view.bg?articleid=1061179698&srvc=rss Devens-based energy technology company AMSC said today it has teamed up with cable supplier Nexans to bring a new... business Wed, 05 Dec 2012 10:59:08 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061179691&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061179691&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061179691&srvc=rss RICHMOND, Va. - A federal appeals court has denied the government's request to rehear a challenge to a requirement... business Wed, 05 Dec 2012 10:48:15 -0500 http://www.bostonherald.com/business/healthcare/view.bg?articleid=1061179694&srvc=rss http://www.bostonherald.com/business/healthcare/view.bg?articleid=1061179694&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/healthcare/view.bg?articleid=1061179694&srvc=rss Mansa Capital, a Boston private-equity firm focused on the health-care sector, said today its debut health-care... business Wed, 05 Dec 2012 10:45:16 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061179689&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061179689&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061179689&srvc=rss WASHINGTON - Orders to U.S. factories rose modestly in October, helped by a big gain in demand for equipment that... business Wed, 05 Dec 2012 10:19:14 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061179686&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061179686&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061179686&srvc=rss Cambridge Savings Bank has been recognized with the Community Reinvestment Act & Fair Lending Colloquium's 2012... business Wed, 05 Dec 2012 10:11:55 -0500 http://www.bostonherald.com/business/technology/general/view.bg?articleid=1061179682&srvc=rss http://www.bostonherald.com/business/technology/general/view.bg?articleid=1061179682&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/technology/general/view.bg?articleid=1061179682&srvc=rss Akamai Technologies Inc. said today it has completed its acquisition of Verivue, a privately-held company based... business Wed, 05 Dec 2012 10:04:59 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061179681&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061179681&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061179681&srvc=rss Newton-based construction management firm Commodore Builders has acquired A.J. Martini Inc. of Winchester, a 60-year-old... business Wed, 05 Dec 2012 10:02:40 -0500 http://www.bostonherald.com/business/automotive/view.bg?articleid=1061179678&srvc=rss http://www.bostonherald.com/business/automotive/view.bg?articleid=1061179678&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/automotive/view.bg?articleid=1061179678&srvc=rss Cambridge-based car-sharing company Zipcar Inc. said today it will officially drive into its new corporate headquarters... business Wed, 05 Dec 2012 09:47:15 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061179677&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061179677&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061179677&srvc=rss NEW YORK - Stocks are opening mostly higher on Wall Street as traders hope for more economic stimulus measures... business Wed, 05 Dec 2012 09:42:30 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061179676&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061179676&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061179676&srvc=rss WASHINGTON - U.S. workers were more productive this summer than initially thought, while costing their companies... business Wed, 05 Dec 2012 09:39:34 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061179658&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061179658&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061179658&srvc=rss NEW YORK - Thanks to the election, socialism and capitalism are forever wed as Merriam-Webster's most looked-up... business Wed, 05 Dec 2012 09:32:39 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061179674&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061179674&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061179674&srvc=rss NEW YORK - Citigroup says it will eliminate more than 11,000 jobs. The bank says it's looking to cut expenses... business Wed, 05 Dec 2012 09:22:18 -0500 http://www.bostonherald.com/business/healthcare/view.bg?articleid=1061179665&srvc=rss http://www.bostonherald.com/business/healthcare/view.bg?articleid=1061179665&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/healthcare/view.bg?articleid=1061179665&srvc=rss A study finds that breast cancer patients taking the drug tamoxifen can cut their chances of having the disease... business Wed, 05 Dec 2012 08:32:33 -0500 http://www.bostonherald.com/business/media/view.bg?articleid=1061179664&srvc=rss http://www.bostonherald.com/business/media/view.bg?articleid=1061179664&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/media/view.bg?articleid=1061179664&srvc=rss NEW YORK - Bob Costas isn't backing down from his halftime comments on gun violence, but he wishes he had more... business Wed, 05 Dec 2012 08:31:01 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061179643&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061179643&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061179643&srvc=rss PARIS - French Budget Minister Jerome Cahuzac is filing a legal complaint against a website that claims he has... business Wed, 05 Dec 2012 06:49:32 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061179558&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061179558&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061179558&srvc=rss Reebok is trying to get fit. The athletic footwear brand has laid off 65 employees in Canton - about 6.5 percent... business Wed, 05 Dec 2012 06:27:21 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061179566&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061179566&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061179566&srvc=rss Equinox Boston wants its members to relax this holiday season. The fitness club is helping them catch a few... business Wed, 05 Dec 2012 06:23:31 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061179631&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061179631&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061179631&srvc=rss HELSINKI - Finland's economy has slipped into recession with a 0.1 percent drop in gross domestic product in the... business Wed, 05 Dec 2012 06:04:17 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061179617&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061179617&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061179617&srvc=rss LOS ANGELES - Los Angeles mayor Antonio Villaraigosa says an agreement has been reached to end an eight-day strike... business Wed, 05 Dec 2012 01:58:50 -0500 http://www.bostonherald.com/business/media/view.bg?articleid=1061179609&srvc=rss http://www.bostonherald.com/business/media/view.bg?articleid=1061179609&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/media/view.bg?articleid=1061179609&srvc=rss HYANNIS - A Massachusetts newspaper says one of its longtime reporters made up sources for her stories, and it... business Wed, 05 Dec 2012 00:41:04 -0500

Business - BostonHerald.comBusiness - BostonHerald.com

http://www.bostonherald.com/business/?srvc=rss The Boston Herald online: The closest distance between you and the news en-us Copyright 2012, Herald Interactive, Inc. Wed, 05 Dec 2012 12:28:16 -0500 systems@heraldinteractive.com (Web Developers) 120 http://cache.heraldinteractive.com/images/siteImages/rss_logo.jpg http://www.bostonherald.com/business/?srvc=rss 100 48 The Boston Herald online: The closest distance between you and the news http://www.bostonherald.com/business/general/view.bg?articleid=1061179718&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061179718&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061179718&srvc=rss BOSTON - Sluggish economic growth will continue in New England, with much of the region not seeing a return to... business Wed, 05 Dec 2012 12:05:52 -0500 http://www.bostonherald.com/business/real_estate/view.bg?articleid=1061179557&srvc=rss http://www.bostonherald.com/business/real_estate/view.bg?articleid=1061179557&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/real_estate/view.bg?articleid=1061179557&srvc=rss A West Coast developer that's busy building a rental high-rise in Boston's Fort Point neighborhood has taken over... business Wed, 05 Dec 2012 12:00:08 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061179715&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061179715&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061179715&srvc=rss American Express had the "black card." Now, Starbucks has the "metal card." Java lovers with deep pockets will... business Wed, 05 Dec 2012 11:50:28 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061179714&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061179714&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061179714&srvc=rss WASHINGTON - A federal appeals court is considering whether President Barack Obama violated the Constitution earlier... business Wed, 05 Dec 2012 11:41:25 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061179708&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061179708&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061179708&srvc=rss NEW YORK - Another Starbucks may soon pop up around the corner, with the world's biggest coffee company planning... business Wed, 05 Dec 2012 11:24:39 -0500 http://www.bostonherald.com/business/technology/general/view.bg?articleid=1061179698&srvc=rss http://www.bostonherald.com/business/technology/general/view.bg?articleid=1061179698&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/technology/general/view.bg?articleid=1061179698&srvc=rss Devens-based energy technology company AMSC said today it has teamed up with cable supplier Nexans to bring a new... business Wed, 05 Dec 2012 10:59:08 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061179691&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061179691&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061179691&srvc=rss RICHMOND, Va. - A federal appeals court has denied the government's request to rehear a challenge to a requirement... business Wed, 05 Dec 2012 10:48:15 -0500 http://www.bostonherald.com/business/healthcare/view.bg?articleid=1061179694&srvc=rss http://www.bostonherald.com/business/healthcare/view.bg?articleid=1061179694&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/healthcare/view.bg?articleid=1061179694&srvc=rss Mansa Capital, a Boston private-equity firm focused on the health-care sector, said today its debut health-care... business Wed, 05 Dec 2012 10:45:16 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061179689&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061179689&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061179689&srvc=rss WASHINGTON - Orders to U.S. factories rose modestly in October, helped by a big gain in demand for equipment that... business Wed, 05 Dec 2012 10:19:14 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061179686&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061179686&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061179686&srvc=rss Cambridge Savings Bank has been recognized with the Community Reinvestment Act & Fair Lending Colloquium's 2012... business Wed, 05 Dec 2012 10:11:55 -0500 http://www.bostonherald.com/business/technology/general/view.bg?articleid=1061179682&srvc=rss http://www.bostonherald.com/business/technology/general/view.bg?articleid=1061179682&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/technology/general/view.bg?articleid=1061179682&srvc=rss Akamai Technologies Inc. said today it has completed its acquisition of Verivue, a privately-held company based... business Wed, 05 Dec 2012 10:04:59 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061179681&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061179681&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061179681&srvc=rss Newton-based construction management firm Commodore Builders has acquired A.J. Martini Inc. of Winchester, a 60-year-old... business Wed, 05 Dec 2012 10:02:40 -0500 http://www.bostonherald.com/business/automotive/view.bg?articleid=1061179678&srvc=rss http://www.bostonherald.com/business/automotive/view.bg?articleid=1061179678&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/automotive/view.bg?articleid=1061179678&srvc=rss Cambridge-based car-sharing company Zipcar Inc. said today it will officially drive into its new corporate headquarters... business Wed, 05 Dec 2012 09:47:15 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061179677&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061179677&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061179677&srvc=rss NEW YORK - Stocks are opening mostly higher on Wall Street as traders hope for more economic stimulus measures... business Wed, 05 Dec 2012 09:42:30 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061179676&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061179676&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061179676&srvc=rss WASHINGTON - U.S. workers were more productive this summer than initially thought, while costing their companies... business Wed, 05 Dec 2012 09:39:34 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061179658&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061179658&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061179658&srvc=rss NEW YORK - Thanks to the election, socialism and capitalism are forever wed as Merriam-Webster's most looked-up... business Wed, 05 Dec 2012 09:32:39 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061179674&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061179674&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061179674&srvc=rss NEW YORK - Citigroup says it will eliminate more than 11,000 jobs. The bank says it's looking to cut expenses... business Wed, 05 Dec 2012 09:22:18 -0500 http://www.bostonherald.com/business/healthcare/view.bg?articleid=1061179665&srvc=rss http://www.bostonherald.com/business/healthcare/view.bg?articleid=1061179665&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/healthcare/view.bg?articleid=1061179665&srvc=rss A study finds that breast cancer patients taking the drug tamoxifen can cut their chances of having the disease... business Wed, 05 Dec 2012 08:32:33 -0500 http://www.bostonherald.com/business/media/view.bg?articleid=1061179664&srvc=rss http://www.bostonherald.com/business/media/view.bg?articleid=1061179664&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/media/view.bg?articleid=1061179664&srvc=rss NEW YORK - Bob Costas isn't backing down from his halftime comments on gun violence, but he wishes he had more... business Wed, 05 Dec 2012 08:31:01 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061179643&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061179643&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061179643&srvc=rss PARIS - French Budget Minister Jerome Cahuzac is filing a legal complaint against a website that claims he has... business Wed, 05 Dec 2012 06:49:32 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061179558&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061179558&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061179558&srvc=rss Reebok is trying to get fit. The athletic footwear brand has laid off 65 employees in Canton - about 6.5 percent... business Wed, 05 Dec 2012 06:27:21 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061179566&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061179566&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061179566&srvc=rss Equinox Boston wants its members to relax this holiday season. The fitness club is helping them catch a few... business Wed, 05 Dec 2012 06:23:31 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061179631&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061179631&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061179631&srvc=rss HELSINKI - Finland's economy has slipped into recession with a 0.1 percent drop in gross domestic product in the... business Wed, 05 Dec 2012 06:04:17 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061179617&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061179617&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061179617&srvc=rss LOS ANGELES - Los Angeles mayor Antonio Villaraigosa says an agreement has been reached to end an eight-day strike... business Wed, 05 Dec 2012 01:58:50 -0500 http://www.bostonherald.com/business/media/view.bg?articleid=1061179609&srvc=rss http://www.bostonherald.com/business/media/view.bg?articleid=1061179609&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/media/view.bg?articleid=1061179609&srvc=rss HYANNIS - A Massachusetts newspaper says one of its longtime reporters made up sources for her stories, and it... business Wed, 05 Dec 2012 00:41:04 -0500


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Online event space locator expands to Boston

Written By Unknown on Kamis, 29 November 2012 | 00.32

Eventup, an online resource that helps event planners and consumers find and book unique venues, said today it is launching its sixth location in Boston.

Based in Santa Monica, Calif., the company has grown to include Los Angeles, New York, San Francisco, Miami and Chicago since its February launch.

The company said it offers a selection of more than 5,000 hard-to-find venues and is a timesaving solution that helps event planners and consumers research, price, confirm availability and book exclusive event spaces that fit their needs.

Services are free for customers, with property owners paying a 15 percent booking fee. Venue rates range from $500 to $100,000, Eventup said.

Eventup venues now available in Boston include the Waterworks Museum and the Royale Nightclub.


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Devens-based AMSC cuts quarter of work force

AMSC, an energy technology company based in Devens, said today it has slashed its work force by about 25 percent and is also consolidating office space to lower operating costs.

The company, citing "challenging conditions" in the wind power market, said it now has about 340 employees worldwide after laying off more than 100 workers.

"Financing and cash flow among wind farm developers and wind turbine manufacturers have been constrained, which has impacted growth plans for some of our ... partners," AMSC chief Daniel McGahn said in a statement. "Given this environment, we made the difficult but prudent decision to reduce our work force in order to weather the industry downturn and minimize our cash usage."

The company expects the moves to reduce annual expenses by nearly $10 million, while lowering its annualized operating expenses to less than $58 million, once the savings are fully realized in the fiscal quarter ending June 30.

The company, which remains in court battles with China's largest wind turbine manufacturer and former customer Sinovel Wind Group Co., said its expects to pay nearly $2 million in cash severance costs in the fourth quarter of this year.

AMSC also revised its financial forecast for the third quarter. Revenues would most likely exceed $20 million while the company's net loss would be less than $24 million, officials said.

AMSC stock, which closed yesterday at $2.77 a share, fell nearly 12 percent to a low of $2.44 today.


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Siemens to spin off majority in Osram unit

BERLIN — Industrial conglomerate Siemens AG has announced plans to shed a majority stake in its Osram unit, which makes light bulbs, in a spinoff to shareholders.

Siemens said today that its supervisory board will propose spinning off 80.5 percent of Osram, followed by a public listing of the division. It said existing Siemens shareholders will get one Osram share for every 10 Siemens shares they hold.

The company didn't specify when it hopes to conduct the spinoff. The plan will need approval by its annual shareholder meeting in January.

It said it will retain 17 percent of Osram, and the Siemens Pension Trust will hold 2.5 percent.

Siemens said in July that, because of the difficult market environment, it had scrapped previous plans for an outright stock market listing.

© Copyright 2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.


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Nokia sues RIM for breach of contract

HELSINKI — Nokia Corp. is suing Research in Motion, the maker of the Blackberry, for breach of contract in Britain, the United States and Canada over cellular patents the two companies agreed on nine years ago.

The struggling cellphone and RIM agreed in 2003 on a "cross-license for standards-essential cellular patents." Since then, RIM has sought to amend the deal, claiming the license should also have covered patents for non-essential parts. A Swedish tribunal earlier this month ruled against RIM's claims.

Nokia says Wednesday that it is now filing a lawsuit to enforce the tribunal's latest decision against RIM's claims. According to that decision, RIM is not entitled to manufacture or sell WLAN products, used widely in smartphones, without first agreeing royalties with Nokia, which is based in Finland.

© Copyright 2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.


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Costco plans special cash dividend of $7 per share

Costco plans special cash dividend of $7 per share

The Associated Press

Costco plans a special dividend of $7 per share next month in addition to the regular quarterly dividend the wholesale club operator pays shareholders.

The Issaquah, Wash., company said Wednesday that the special dividend will be payable Dec. 18 to shareholders of record Dec. 10. Costco Wholesale Corp.'s regular quarterly dividend of 27.5 cents per share will be paid Nov. 30 to shareholders of record as of Nov. 16.

Costco also said Wednesday that its November revenue climbed nearly 9 percent to $8.15 billion. Revenue from stores open at least a year rose 6 percent. The increase was 5 percent excluding gains from gasoline price inflation and stronger foreign currencies.

Revenue from stores open at least a year is a key gauge of a retailer's health because it excludes results from stores recently opened or closed.

Costco's shares rose $4.29, or 4.5 percent, to $100.80 in morning trading Wednesday. Its shares peaked for the past year at $104.43 in October. They traded as low as $78.81 in early January.

Many companies are making special end-of-year dividend payments or moving up their quarterly payouts because investors may have to pay higher taxes on dividend income starting in January.

Investors have paid a maximum 15 percent on dividends since 2003. But that historically low rate will expire in January unless Congress and President Barack Obama reach a compromise on taxes and government spending.

As it stands, dividends will be taxed as ordinary income in 2013, the same as wages, so rates will go up depending on which income bracket a taxpayer is in. For the highest earners, the dividend rate would jump to 43.4 percent.

Even if a compromise is reached, there's no guarantee that the tax rate for dividends will remain at its current level.

Fitch Ratings said Wednesday it was lowering Costco's issuer default rating one notch to "A+" from "AA-" because the company plans to take on more debt to pay the special dividend. Analyst Philip M. Zahn said "A+" is still considered an above-average, investment-grade rating.

Costco runs 618 warehouses in several countries, including 447 in the United States and Puerto Rico.

© Copyright 2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.


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Egypt stocks drops again after president's decree

CAIRO — Egypt's benchmark stock index has plunged again in the second major drop since Islamist president Mohammed Morsi issued decrees to assume far-ranging powers.

Wednesday's drop of 4.6 percentage points was the latest sign of the impact of President Mohammed Morsi's decrees on Egypt's already battered economy. His move set off a wave of unrest, including a 200,000-strong demonstration in Cairo.

The latest drop on the Egyptian Exchange's EGX30 came after market shares plunged by close to 10 percent on Sunday. That was the biggest loss since the period following the ouster of longtime President Hosni Mubarak in February 2011 after a popular uprising.

Sunday's loss in share value was estimated at close to $5 billion.

A year and a half of turmoil has decimated tourism and foreign investment in Egypt.

© Copyright 2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.


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FDA to review Aveo kidney cancer drug

Aveo Oncology of Cambridge and its Japanese partner Astellas Pharma said today the U.S. Food and Drug Administration has agreed to review its drug candidate for treating patients with advanced renal cell carcinoma.

The drug, called tivozanib, is an investigational medicine and is not currently approved in any country, the companies said. The FDA expects to complete its review by July 28.

If approved, the drug would be branded as Tivopath. The FDA's acceptance of the drug will also trigger a $15 million milestone payment to Aveo under its development and commercialization agreement with Astellas, which is based in Tokyo.

The companies said renal cell carcinoma accounts for more than 90 percent of all kidney cancers with more than 100,000 people dying from the disease each year.


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Mass. ranks second in home price survey

Massachusetts is the nation's second most expensive state to buy a house in, according to a report released today by Coldwell Banker Real Estate.

The average listing price for a four-bedroom, two-bathroom home in the Bay State is $489,063. The nation's most expensive housing market is Hawaii, where a four-bedroom, two-bath home has an average listing price of $742,551.

Following Massachusetts are California ($431,625), New Jersey ($421,108), Connecticut ($411,884), Colorado ($387,309), New York ($359,682), Minnesota ($357,461), Maryland ($354,465) and Washington ($342,716).

Nebraska is the most affordable state to live in, according to the report. The average listing price for a four-bedroom, two-bath home in the Cornhusker State is $145,360.

The report analyzed more than 72,000 home listings in more than 2,500 U.S. markets, comparing the listing prices of similar homes in markets across the country from January to June of this year.

The five most expensive housing markets are all in California, with four in the San Francisco Bay Area, according to the report. Los Altos, Calif. Tops the list at $1,706,688, followed by Newport Beach ($1,658,000), Saratoga ($1,582,434), Menlo Park ($1,506,909) and Palo Alto ($1,495,364).

The only Massachusetts region to make the most expensive housing markets list is Weston at number 14, where the average listing price for a four-bedroom, two-bath home is more than $1.1 million. The most affordable housing market is Redford, Mich. at $60,490 a home.


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Milton hospital president to step down

Beth Israel Deaconess Hospital-Milton president Joseph Morrissey is stepping down, effective Dec. 31, the hospital's board of directors said today.

Morrissey will be succeeded on an interim basis by Doris Sinkevich, who currently serves as the hospital's chief operating officer and chief nursing officer.

Morrissey served as Milton Hospital's vice president of financial services from 1988 until 2003, when he was named president. A 20-year employee of the hospital, Morrissey was responsible for guiding the hospital through a successful affiliation with Beth Israel Deaconess Medical Center, which was formalized in January of this year, officials said.

"Mr. Morrissey has been an excellent steward of BID-Milton during his tenure as president, skillfully guiding us through our affiliation in a way that allowed us to continue to keep our autonomy and focus on providing excellent care in our community," said Michael Brady, chairman of BID-Milton's board of directors. "With this transition complete, BID-Milton has entered a new phase of operations, which we both agree requires a different kind of leadership."

The board of directors has appointed a search committee and will immediately embark on a national search for a new CEO, officials said.


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Watertown biotech firm teams with Sanofi

Selecta Biosciences, a clinical-stage biopharmaceutical company based in Watertown, said today it has entered into a collaboration with Sanofi to develop three immunotherapy candidates for food allergies.

Under terms of the agreement, Selecta is eligible to receive several pre-clinical, regulatory and sales milestones totaling $300 million per allergen indication for up to three treatment candidates.

Selecta is also entitled to up to double-digit tiered royalties as percentage of net sales for each commercialized product.

Sanofi will also have access to Selecta's proprietary "Synthetic Vaccine Particle" platform.


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Toshiba shows four-legged robot for nuke disaster

Written By Unknown on Kamis, 22 November 2012 | 00.32

YOKOHAMA, Japan — Toshiba Corp. unveiled a robot Wednesday that the company says can withstand high radiation and help in nuclear disasters. But it remains unclear what exactly the new machine will be capable of doing if and when it gets the go-ahead to enter Japan's crippled Fukushima Dai-ichi nuclear plant.

The four-legged robot can climb over debris and venture into radiated areas off-limits to human workers. One significant innovation, Toshiba said, is that its wireless network can be controlled in high radiation, automatically seeking better transmission when reception becomes weak.

But the machine, which looks like an ice cooler on wobbly metal legs, also appears prone to glitches. The robot took a jerky misstep during a demonstration to reporters, freezing with one leg up in the air. It had to be lifted by several people and rebooted.

The robot was also notably slow in climbing a flight of eight steps, cautiously lifting its legs one by one, and taking about a minute to go up each step.

With obstacles that aren't as even and predictable as steps, such as the debris at the plant, it may need as much as 10 minutes to figure out how to clear the object, Toshiba acknowledged.

And if it ever falls, it will not be able to get up on its own.

Still, Tokyo Electric Power Co. said it might use the robot to inspect the suppression chamber of the Fukushima plant, where a devastating meltdown took place after a mammoth tsunami slammed into northeastern Japan on March 11, 2011.

Toshiba began developing the robot after the disaster with hopes it would prove useful in helping to decommission the plant. No human has been able to enter the highly radiated chamber since the tsunami disaster.

"We need this to go in and first check what is there," said Toshiba Senior Manager Goro Yanase.

It was unclear when a decision on the robot's use would be made, according to TEPCO, which operates the nuclear plant.

Although what Toshiba showed was top-notch robotics, what the machine might be able to do appeared limited in the face of the disaster's magnitude and complexity.

Japan boasts among the world's most sophisticated robotics technology, exemplified in the walking, talking human-shaped Asimo robot from Honda Motor Co. The inability of such gadgetry to help out with the Fukushima disaster was widely criticized.

Part of the reason is that robots, although suited for tasks such as greeting visitors at dealerships, are too delicate. Their wireless remote-controlled networks are not designed to endure high radiation. Honda has acknowledged Asimo would not have been able to withstand the environment at Fukushima, as some had suggested.

Toshiba's Yanase said the new robot, which has a dosimeter to measure radiation and six cameras, can stay in a 100 millisievert environment for about a year and can tolerate even higher radiated areas for shorter periods. At 100 millisieverts, the rise in cancer cases caused by radiation becomes statistically detectable, although even lower dose radiation is not advisable for people.

The suppression chamber was 360 millisieverts the last time it was measured, TEPCO said.

Decommissioning Fukushima Dai-ichi is expected to take decades.

© Copyright 2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.


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Rock band AC/DC releases entire catalog on iTunes

NEW YORK — AC/DC is finally releasing its music digitally on iTunes.

Columbia Records and Apple announced Monday that the classic rock band's music will be available at the iTunes Store worldwide.

Sixteen studio albums will be released, including "High Voltage" and "Back in Black," which is already in the Top 30 on iTunes' top albums chart. Two of the group's albums are also in the Top 100 and several of the Australian band's songs are in the Top 200.

AC/DC was one of the few acts that would not release music through the digital outlet. Two years ago Apple struck a deal with The Beatles' record label, EMI Group, and management company, and began selling the group's music. Kid Rock, who had also been against selling his music through the digital retailer, is releasing a new album, "Rebel Soul," on Monday and it's available on iTunes.

Silvio Pietroluongo, Billboard's director of charts, said AC/DC's decision isn't shocking.

"It's something that I think artists realize they need to do in order to get their music into the hands of their fans and to make more money," he said. "Right now with CD sales being what they are, touring is the main source of income and not every band is equipped to be out on tour 200 days a year to make the kind of money the need to make, or want to make."

Garth Brooks, however, has yet to release his music on iTunes. Pietroluongo said he believes the country star will come around, but he's not sure when that will be.

Four of AC/DC's live albums and three compilation records are also available. The statement said the songs have been mastered for iTunes "with increased audio fidelity."

The group's first live album in 20 years, "Live at River Plate," is out Tuesday.

© Copyright 2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.


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San Diego media figure dies after car crash

SAN DIEGO -- David Copley, owner and publisher of The San Diego Union-Tribune until it was sold in 2009, died Tuesday after crashing his Aston Martin near his home in La Jolla.

Copley, 60, was found slumped in the front seat of his car early in the evening and rushed to Scripps Memorial Hospital, where he was pronounced dead.

He had left a board meeting of the Museum of Contemporary Art San Diego, saying he did not feel well. The cause of death was an apparent heart attack; Copley had received a heart transplant in 2005.

Copley's family influenced nearly every facet of life in the San Diego region during the eight decades of newspaper ownership, with its endorsement of select politicians and support of economic development projects and educational ventures such as the establishment of UC San Diego. His mother, Helen, married James Copley, then the publisher, in 1965.

For several decades, the Copley Press published The San Diego Union and the Evening Tribune; in 1992 the papers merged. After James Copley died in 1973, Helen Copley assumed control of the newspapers. David Copley became publisher in 2001, three years before his mother's death.

But as the newspaper industry's economic fortunes waned, David Copley sold the newspapers and, in effect, retired from public life.

The Copley family used the editorial pages of its newspapers to spread its conservative, pro-business views. The Copley name adorns the downtown symphony hall and a plaza in Balboa Park.

David Copley financed Broadway musicals and art projects by the artist Christo. Shy and uncomfortable in public settings, he nonetheless enjoyed world travel, particularly on his yacht, and entertained lavishly at his home in La Jolla.

With David Copley as publisher, the newspaper won a Pulitzer Prize in 2006 for exposing the corruption of a leading Republican, Rep. Randall "Duke" Cunningham.

In 2009, David Copley sold the remaining newspaper interests to a private equity group, which later sold it to developer-hotelier "Papa Doug" Manchester, who renamed the paper the U-T San Diego.

Karin Winner, retired Union-Tribune editor, told the U-T that David Copley "had an enormous capacity for humor and an uncanny ability to understand the bigger picture...."

She added: "I'm really glad that he had the past few years to live his life the way he wanted to. I know that it was very hard on him to let the paper be sold, but he thought it was what was best for the community and the employees at the time."

---

Visit the Los Angeles Times at www.latimes.com

(c)2012 the Los Angeles Times. Distributed by MCT Information Services


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Walmart making wait worth it by guaranteeing sale items

Walmart is bracing for protests on Black Friday, but not from shoppers who will get an in-store guarantee on select items for the first time this year, an attempt by the retailer to ensure that long waits in line won't be in vain.

The three items — an iPad 2, Emerson 32-inch HDTV, and LG Blu-ray Player — are middle-of-the-road gifts. Walmart is guaranteeing that anyone waiting in line during the first hour of the store's opening (1 a.m. in the Bay State) will get those devices at Black Friday prices, even if the store sells out of those items.

"This is our Super Bowl," said Walmart spokesman William C. Wertz. "We prepare for this all year-round."

The 16GB iPad 2 comes with a $75 gift card on Black Friday, and is being sold at the regular price of $399. The Emerson TV is $148, about half off the regular retail price, and the Blu-ray player is more than half-off the retail price at $38.

If Walmart sells out of the guaranteed items, shoppers in line within the first hour will be able to receive the item in the mail before Christmas.


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Closed Upper Crust pizza shops set for auction

Auction plans are in the works for Upper Crust's 10 company-owned restaurants.

The trustee overseeing the Boston pizzeria chain's bankruptcy case has received inquiries from about 50 companies, both local and national, interested in buying all, some or one of the stores.

Trustee Mark DeGiacomo plans to file documents on Monday or Tuesday for the bankruptcy court's permission to conduct the sale.

"We were not able to find anyone who was willing to put up the funds to reopen the stores, so we're still holding out hope that that could happen," DeGiacomo said. "But, meanwhile, were marching forward with the sale of the stores so we can get new owners in there who we hope will hire some or all of the employees."

The highest bidders will prevail in the auction, according to DeGiacomo.

"Whoever is the highest bidder will get the most money for creditors," he said.

DeGiacomo has no estimate of the value of the chain, saying it's "whatever people are willing to pay."

The trustee closed the 10 Upper Crust restaurants last week because there were insufficient funds to continue their operation. The company had about 170 employees.

Upper Crust filed for Chapter 11 bankruptcy protection last month. The chain, which was the target of a U.S. Department of Labor investigation and a class-action lawsuit filed by employees, has up to $4 million in debt.


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Stocks near break-even on Wall Street

NEW YORK — Stocks hovered near break-even today on Wall Street ahead of the Thanksgiving holiday.

The Standard & Poor's 500 index was down a fraction of a point at 1,387. Bank stocks and utilities fell the most, while industrial companies rose the most, but no category of stock moved more than 0.5 percent.

The Dow Jones industrial average climbed 22 points to 12,811. Most of that was attributable to two of the most expensive stocks in the average, IBM and Boeing, each of which rose more than $1. High-dollar stocks in the Dow carry more weight.

The Nasdaq composite index was down two points at 2,914.

Deere, the maker of tractors and other farm and construction equipment, opened down 3 percent. It reported a quarterly profit of $1.75 per share, missing Wall Street expectations of $1.88.

Chipotle Mexican Group, the restaurant chain, climbed 2.4 percent. It announced late Tuesday that it would buy back an additional $100 million of its own stock. It had announced a $100 million buyback plan Oct. 18.

The quiet open Wednesday followed an uneventful finish Tuesday. The Dow dropped as much as 94 points after a warning from Federal Reserve Chairman Ben Bernanke about federal budget talks, then recovered to close down seven points.

The stock market will be closed Thursday for Thanksgiving and will close early Friday.

The price of oil climbed 77 cents to $87.52 per barrel. It fell $2.53 on Tuesday because of signs that Israel and Hamas were close to a cease-fire to end Israel's weeklong assault on the Gaza Strip, but a cease-fire remained elusive Wednesday.

In the bond market, the yield on the benchmark 10-year U.S. Treasury note rose 0.01 percentage point to 1.68 percent.

European markets were mostly higher. Stocks climbed 0.3 percent in France and 0.1 percent in Germany. Asian markets fared better. The Nikkei index in Japan climbed 0.9 percent and the Hang Seng in Hong Kong 1.4 percent.

© Copyright 2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.


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CVS scraps plans for Nantucket

There once was a man from Nantucket, who opposed CVS so much it said ... forget it.

Greg Hinson, a family doctor, photographer and 12-year island resident, started an online petition that prompted the pharmacy giant to scrap plans to replace a supermarket in the summer playground where large retail chains are banned.

"There was a big cheer," Hinson said yesterday, hours after residents and business owners packed into a special afternoon town meeting called for "discussion regarding an in-town grocery store."

But before anyone made a peep, a CVS lawyer waved the white flag. The operator of 7,400 stores nationwide, including 356 in Massachusetts, would not try to expand its pharmacy empire into Nantucket.

CVS wanted to take over the Grand Union supermarket that recently closed, leaving Stop & Shop as the lone grocer on the island. Supermarkets are exempt from the town's 6-year-old chain-banning bylaw, a loophole CVS presumably would've exploited with its broad product selection.

"We have decided to support the community's desire to secure a grocery store for downtown Nantucket. In that spirit, CVS will work cooperatively with the property owner to find an appropriate tenant," said CVS spokesman Mike DeAngelis.

Boston-based Winthrop Management, which manages the property for a realty trust, declined comment.

A proud Hinson said he collected 4,533 signatures on his Change.org petition that declared, "We will NOT shop at a CVS on Nantucket." Many were defending the island's three local pharmacies, including one that Hinson called a "classic Currier and Ives drugstore" with a soda fountain and lunch counter.

Facing the specter of CVS, some downtown business owners temporarily closed up shop to go to yesterday's meeting, leaving notes on doors apologizing for their absence. Board of Selectmen chairwoman Patty Roggeveen said Nantucket leaders were prepared to go to court to defend the town's bylaw that bans "formula businesses" that have 14 or more stores.

We would've been holding fast to a certain line in the sand that certainly would've made it difficult for CVS to open," she said. "We really support the local economy and we'd like to keep that character here."

Now residents may get what they wished for. Another bidder for the Grand Union space was Don Mignosa, owner of Fruit Center Marketplace, an upscale grocer with stores in Milton and Hingham.

"This would be an excellent location," said spokesman Michael Dwyer. "He's passionate about the island and would love to expand his business there."


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Rate on US 30-year mortgage hits record 3.31 pct.

WASHINGTON — Average U.S. rates on fixed mortgages fell to fresh record lows this week, a trend that is boosting home sales and aiding the housing recovery.

Mortgage buyer Freddie Mac said Wednesday that the average rate on the 30-year loan dipped to 3.31 percent, the lowest on records dating back to 1971. That's down from 3.34 percent last week, the previous record low.

The average on the 15-year fixed mortgage also dropped to 2.63 percent. That's down from 2.65 percent last week and also a new record.

The average rate on the 30-year loan has been below 4 percent all year. It has fallen further since the Federal Reserve started buying mortgage bonds in September to encourage more borrowing and spending.

Home sales and construction are rising, providing a much-needed boost to the economy. Home prices are also increasing, which makes consumers feel wealthier and more likely to spend.

Lower rates have also persuaded more people to refinance. That usually leads to lower monthly mortgage payments and more spending. Consumer spending drives nearly 70 percent of economic activity.

Still, the housing market has a long way to a full recovery. And many people are unable to take advantage of the low rates, either because they can't qualify for stricter lending rules or they can't afford the larger down payments that many banks require.

To calculate average mortgage rates, Freddie Mac surveys lenders across the country on Monday through Wednesday of each week. The average doesn't include extra fees, known as points, which most borrowers must pay to get the lowest rates. One point equals 1 percent of the loan amount.

The average fee for 30-year loans was 0.7 point, unchanged from last week. The fee for 15-year loans also remained at 0.7 point.

The average rate on a one-year adjustable-rate mortgage ticked up to 2.56 percent from 2.55 percent. The fee for one-year adjustable-rate loans rose two-tenths to 0.5 point.

The average rate on a five-year adjustable-rate mortgage 2.74 percent, the same as the previous week. The fee was unchanged at 0.6 point.

© Copyright 2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.


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Gambling company to let Mass. workers unionize

PALMER, Mass. — A gambling company vying to open a casino in western Massachusetts has reached a deal with a federation of about 50 labor unions to allow future employees to form a union and negotiate contracts.

The Mohegan Tribal Gaming Authority finalized the agreement with the Pioneer Valley AFL-CIO to cover employees at a casino it wants to build on a 150-acre site just of the Massachusetts Turnpike in Palmer.

The Republican newspaper reportss that the agreement could help the company win the only casino license designated for western Massachusetts, because under state law, the Massachusetts Gaming Commission must consider whether an applicant has a contract with organized labor, including hospitality services, and has the support of organized labor for its application when weighing its decision to award a license.

"The first jobs to be created from casino gaming in Massachusetts will be union jobs, and we're excited to bring that opportunity to western Mass. and the entire region," Mitchell Etess, chief executive officer of the Mohegan Tribal Gaming Authority, said in a statement. "By formalizing this commitment to the Pioneer Valley AFL-CIO, we recognize the importance of preserving worker rights to organize once our facility opens in Palmer."

The authority also operates the Mohegan Sun casino in Connecticut and the Mohegan Sun at Pocono Downs in Pennsylvania.

At least three other companies are seeking rights to build a casino in the western part of the state. Ameristar Casinos, Penn National Gaming and MGM Resorts all have plans for a resort casino in Springfield.

The Mohegan authority's agreement marks the first of its kind for any casino developer in western Massachusetts, Mohegan officials said, although the authority and Ameristar have both previously signed deals with the Pioneer Valley Building and Construction Trades Council of Springfield and Carpenters Local 108 to help build proposed casinos.

The labor deal was welcomed by Palmer Town Council member Paul Burns, who saw it as a sign of commitment.

The state's gambling law allows up to three casinos in three distinct regions of the state. A casino would have to be approved by local voters and the state gambling commission.

___

Information from: The Springfield (Mass.) Republican, http://www.masslive.com/news/

© Copyright 2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.


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Gambling company would let Massachusetts workers unionize

PALMER -- A company hoping to open a casino in western Massachusetts has reached a deal with a federation of about 50 labor unions to allow future employees to form a union and negotiate contracts.

The Mohegan Tribal Gaming Authority finalized the agreement with the Pioneer Valley AFL-CIO to cover employees at a casino it wants to build on a 150-acre site just of the Massachusetts Turnpike in Palmer.

The move could give the authority, which runs the Mohegan Sun casino in Connecticut and another in Pennsylvania, an advantage in the pursuit of the only casino license in western Massachusetts.

The Republican reports that the Mohegan authority's chief executive says his company recognizes "the importance of preserving worker rights to organize."

At least three companies have proposed a casino in Springfield.

© Copyright 2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.


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Enchanted Village opens Saturday at Jordan's Furniture in Avon

Written By Unknown on Kamis, 15 November 2012 | 00.32

The iconic animated Enchanted Village kicks off its 2012 season at Jordan's Furniture in Avon this Saturday and is free to the public.

The old-fashioned, Victorian-era 8,000-square-foot display went from Jordan Marsh to its new home of Jordan's Furniture in 2009 after being bought at auction that year by Eliot Tatelman, president and CEO of Jordan's Furniture.

The family staple includes Santa Claus, a reindeer game, a holiday song laser light show, and a Polar Express 4D The Ride attraction.

Jordan Marsh initially commissioned a Bavarian toymaker to create the Village in order to attract customers to its Downtown Crossing store, where it remained until the mid-1970s. The attraction came back for brief periods in the ensuing decades.

The Enchanted Village at Jordan's Furniture in Avon will stay open through December during regular store hours. Tickets to Polar Express 4D The Ride and to the laser light show LITE are available on-site at the MOM Theater.


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Warren Buffett's firm will close suburban DC newspaper

OMAHA, Neb. — Warren Buffett's company is planning to close a small Virginia newspaper that it bought from Media General earlier this year.

The 10,000-circulation Manassas (Va.) News & Messenger, which began publishing in 1869, has been struggling to compete in the Washington D.C. suburbs. It will print its last issue on Dec. 30.

Buffett's Berkshire Hathaway Inc. says it has no plans to close any of its other newspapers.

The Manassas closing will eliminate 33 jobs. An additional 72 corporate positions that Berkshire acquired with the Media General deal will be eliminated.

The Omaha World-Herald reported the closure on Wednesday. Officials at Berkshire's newspaper unit, which is run by the World-Herald, did not immediately respond to a message.

Buffett did not immediately respond to a message sent to his assistant Wednesday.

© Copyright 2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.


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Liberal group outlines substantial Medicare cuts

WASHINGTON — Trying to prevent a raid on health care programs in upcoming budget talks, a think tank close to the White House on Wednesday released a plan for significant savings, mostly from Medicare.

Medicaid and the new health care law are largely spared from cuts in the blueprint from the liberal-leaning Center for American Progress. Instead, it targets Medicare service providers, from the pharmaceutical industry to hospitals and nursing homes. Higher-income Medicare recipients also would face increased monthly premiums for outpatient and prescription coverage.

After taxes, health care costs are probably the thorniest issue facing policymakers looking for a way to avoid the so-called fiscal cliff, an economically toxic combination of tax increases and spending cuts looming Jan. 1 if compromise fails.

Rising health care costs are the most stubborn element of the nation's long-term budget woes. At the same time, a recent report for the government estimated that the U.S. health care system squanders $750 billion a year, about 30 cents of every medical dollar.

The center's proposal is notable because the organization serves as a kind of idea factory for President Barack Obama's administration, akin to the conservative Heritage Foundation during Ronald Reagan's presidency. The plan calls on Obama to draw the line against broader cuts and premium increases in budget talks with Republicans.

"This isn't a floor. This is a ceiling," said Neera Tanden, president of the center and formerly a senior White House official who worked on Obama's health care overhaul. "The idea was to provide ideas in the debate that would not punish the middle class and low-income seniors."

Congressional Republicans call the approach wishful thinking. They argue that all health care programs, including Medicaid for the poor and Obama's law covering the uninsured, must be on the table. They say any plan that walls off big portions of government health care spending is simply not credible.

Tanden suggests Republicans recheck the election results. Voters, she said, knew that Republican Mitt Romney wanted to repeal the health care law, privatize Medicare and give Medicaid over to the states — and they chose Obama. "This election was not a coin toss," she said. "We did not come out equal."

The center's plan rejects raising the Medicare eligibility age to 67, a concession that Obama quietly offered during failed budget negotiations last year. Instead it focuses on squeezing Medicare service providers, a strategy the plan's authors say will make the entire health care system more efficient without risking quality.

Drugmakers would take the biggest hit, accounting for $160 billion, or about 40 percent of the proposed 10-year savings. Nearly all of that would come from requiring pharmaceutical companies to pay rebates on drugs provided to low-income Medicare beneficiaries.

Hospitals account for an additional $61 billion in cuts, or 16 percent of the total. Medical device manufacturers and insurance companies would be on the hook for about $20 billion apiece. Nursing homes are targeted for $16 billion in reductions.

The plan has two main proposals affecting Medicare beneficiaries.

It would revamp deductibles and cost-sharing in traditional Medicare so that upper middle-class and wealthy seniors pay at least their first $500 in medical costs in any given year, with exceptions for prevention and care for chronic disease. At the same time, it would protect beneficiaries with catastrophic costs by limiting total cost-sharing.

Although this proposal would not save the government any money, some seniors would pay more and others less.

Among seniors with Medigap insurance that covers medical costs from the first dollar, the well-to-do would have to pay the first $500 out of pocket.

But all Medicare beneficiaries would benefit from better protection against catastrophic costs. Overall, the idea behind the proposal is to discourage people from going to the doctor when they don't have to.

© Copyright 2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.


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HBS survey shows concerns about U.S. competitiveness

A new Harvard Business School survey has revealed serious concern about America's competitiveness trajectory, yet shows wide agreement between liberals and conservatives on the policy imperatives that Congress and President Obama should advance following the election.

A total of 58 percent of alumni business leader respondents expect a decline in U.S. competitiveness over the next three eyars, with U.S. firms less able to compete in the global economy, less able to pay workers good wages and benefits, or both.

Yet pessimism about the trajectory of U.S. competitiveness eased somewhat from a prior 2011 survey, though opinions diverged along ideological lines -- pessimism among strongly liberal business leaders who responded in both years declined from 72 percent in 2011 to 53 percent in 2012, while it fell only slightly among strongly conservative business leaders, from 71 percent in 2011 to 65 percent in 2012.

The survey, conducted in September, polled 6,836 HBS alumni, many in top management positions, and 1,025 members of the general public. This is the second annual survey on U.S. competitiveness.

Respondents in both surveys were asked to assess the state and trajectory of 17 elements that drive national competitiveness. Key findings included:

Business leaders and the general public identified America's political system, tax code, K-12 education system, macroeconomic policy, regulatory environment and legal framework as weaknesses that were continuing to deteriorate relative to other economies.

Business leaders saw entrepreneurship, quality of management, innovation, property rights protection and capital markets as American strengths that were improving. Members of the general public also saw these elements as strengths, but mostly on the decline.

Between 2011 and 2012, business leaders remained stubbornly pessimistic about the complexity of the tax code, the K-12 education system and the regulatory environment even as their views of most elements of the business environment brightened somewhat.

The survey also provided a consensus roadmap for lawmakers to restore competitiveness, with business leaders across the political spectrum showing strong support for several policy directions, including a compromise for a sustainable federal budget, corporate tax reform and easing of high-skill immigration; responsible extraction of newly-accessible energy supplies and more aggressive pursuit of a level playing field in the international trading system; and greater infrastructure investment and selective streamlining of regulations.

The survey also found wide support among business leaders and the general public for a federal budget compromise involving both revenue increases and spending cuts.

The research is part of the HBS U.S. Competitiveness Project, a multi-year effort co-chaired by HBS professors Michael Porter and Jan Rivkin to assess structural challenges to the U.S. economy and identify ways that business, labor, government and academic leaders can work together to address those challenges.

"All sides agree that the United States faces existential competitiveness challenges. All sides agree on the basic direction that federal policies need to take. Yet, until now, no progress has been made in Washington. This failure to act is severely damaging America's competitiveness," Porter said. "With the election behind us, the president and the new Congress must act now to restore the United States as a highly productive and efficient business location for firms and workers."


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In latest intrusion, Facebook creates relationship profile

The nicest thing you can do for your spouse or significant other right now is to dump them. On Facebook.

The latest sputtering strategy from the post-IPO social network is to treat couples like people. Now not only do users have a profile page, so does their relationship. Want to see what yours looks like? Go to Facebook.com/us. No, you cannot delete the profile for your relationship. There's no opt-out provision. It's there whether you want it or not. An automatic catalog of all your interactions with your plus-one — wall posts, mutual friends and even mutual likes.

The issue is not that Facebook has made these relationship pages possible, it's that they're involuntary, marking the latest intrusion by a network that is increasingly hostile toward personal boundaries. Although users are allegedly able to edit these profiles, I found it impossible to change the cover photo of my husband and me arbitrarily chosen for the relationship page.

Let's set aside for a second the "ick" factor. I dislike cheesiness and detest Valentine's Day. I find these pages equally icky, but such things are a matter of personal taste.

But there's a bigger issue. An estimated 20 percent of Facebook users are between the ages of 13 and 18. Is there any worse message to send to teens than one that says their crushes are so important that we must curate the details online? Now every LOL and OMG and exhibitionist photo shared between hormonal flights of fancy will be showcased to the public (unless by some chance they happen to employ tight privacy settings). It's yet another outlet for teen jealousy, bullying and distractions. Becoming "Facebook official" just got even more complicated.

That's not to say that oversharing is limited to teens. I have an old friend whose on-again, off-again relationship status with his baby momma would seem theatrical to Kim Kardashian. What's more, each time their relationship status changes, people feel the need to offer their pearls of wisdom. And that often will prompt responses, ranging from angry to faux relief, from the principals involved. Now, their kid can one day grow up to view this tawdry back-and-forth immortalized on the Web. Thanks, Facebook.


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FDA chief seeks new powers to police pharmacies

WASHINGTON — The country's top medical regulator is preparing to tell Congress that new laws are needed to police large specialty pharmacies like the one at the center of a deadly meningitis outbreak.

Testimony released ahead of the first congressional hearing on the incident shows that Food and Drug Administration Commissioner Margaret Hamburg will ask lawmakers to give her agency more authority and funding to oversee compounding pharmacies. Hamburg is one of four witnesses called to testify before the House Energy and Commerce Committee. The committee will also hear from a Massachusetts health official, the owner of the Framingham, Mass.-based pharmacy tied to the outbreak and the widow of a patient killed by the company's product.

About 440 people have been sickened by contaminated steroid shots distributed by New England Compounding Center, and more than 32 deaths have been reported since the outbreak began in September. Compounding pharmacies have been linked to occasional safety problems for decades, but the current outbreak of fungal meningitis is the deadliest case in modern U.S. history, according to industry experts.

That has put the NECC at the center of congressional scrutiny as lawmakers consider tighter regulation of compounding pharmacies, which have long operated in a legal gray area between state and federal laws.

"FDA's authority over compounding pharmacies is limited by law and is not suited to effectively regulate the evolving compounding industry," Hamburg said, in a statement released ahead of the hearing. "We need a clear path forward that is proactive and preventive."

Compounding pharmacies traditionally fill special orders placed by doctors for individual patients, turning out a small number of customized formulas each week. They are typically overseen by state pharmacy boards, though the FDA occasionally steps in when major problems arise. Some pharmacies have grown into much larger businesses in the last 20 years, supplying bulk orders of medicines to hospitals that need a steady supply of drugs on hand.

NECC shipped more than 17,000 single-dose vials of the steroid linked to the outbreak, which were given to an estimated 14,000 patients in 23 states.

Hamburg says Congress should put in place a two-tier system in which traditional compounding pharmacies continue to be regulated at the state level, but larger pharmacies would be subject to FDA oversight.

Pharmacies that ship bulk product or produce complex drugs would have to register with the FDA and undergo regular inspections, similar to pharmaceutical manufacturers. These non-traditional compounding pharmacies would also have to meet the more stringent manufacturing standards required of pharmaceutical companies.

"In light of growing evidence of threats to the public health, the administration urges Congress to strengthen standards for non-traditional compounding," Hamburg states in her testimony.

© Copyright 2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.


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Stocks slide after gloomy report on retail sales

NEW YORK — Stocks indexes are lower in light trading on Wall Street at midday.

Strong earnings from Abercrombie & Fitch are being offset by a gloomy report on retail spending from the government.

The Dow Jones industrial average was down 55 points at 12,701 at noon Wednesday.

The Standard & Poor's 500 index slipped four points to 1,370 and the Nasdaq composite was down three points at 2,881.

Abercrombie & Fitch, maker of clothing for teenagers, was among the standout stocks, jumping 27 percent after reporting that its net income soared in the most recent quarter.

The strong results were tempered by a report from the Commerce Department saying that Americans cut back on spending in October.

© Copyright 2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.


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Facebook jumps on biggest lock-up expiration day

NEW YORK — Facebook's stock is up more than 7 percent despite expectations that it would fall because more than 850 million additional shares in the company are being freed up for sale.

Shares of Facebook Inc. are up $1.48, or 7.5 percent, at $21.34. Facebook went public in May at $38 in a much-hyped initial public offering of stock that turned out to be a letdown for investors. Its stock price hasn't hit $38 since.

Wednesday marked the expiration of Facebook's biggest lock-up period, which is a time following an IPO that prevents insiders from selling stock. In all, 773 million shares became eligible for sale, along with 31 million restricted stock units. And about 48 million shares held by former Facebook employees also became eligible for sale, bringing the total to 852 million. These shares would be on top of what's already been available for trading, increasing the supply and potentially lowering the overall price.

Lock-ups are common after initial public stock offerings and are designed to prevent a stock from experiencing the kind of volatility that might occur if too many shareholders decide to sell all at once.

The previous lock-up expired on Oct. 29, when U.S. stock markets were closed because of Superstorm Sandy. Facebook's stock fell nearly 4 percent two days later, when the stock market reopened.

Cantor Fitzgerald analyst Youssef Squali believes a potential increase in the capital gains tax on Jan. 1, when Bush-era tax cuts would expire unless Congress acts, could pressure Facebook's stock. That said, he called the Menlo Park, Calif.-based social media company a "long-term winner."

Facebook's stock saw its biggest one-day gain on Oct. 24, the day after the company reported stronger-than-expected third-quarter results and detailed for the first time how much money it made from mobile ads. The stock, which added 19 percent that day, closed at $23.23. Even with Wednesday's gain, it is still 8 percent below that price.

© Copyright 2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.


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Questions about Elmo young fans won't be asking

NEW YORK — First, Big Bird became an unwitting player in a presidential debate that argued for clipping his wings.

Then came word that the actor who plays Elmo would take a leave of absence amid an allegation that he had had a sexual relationship with a 16-year-old boy — an accusation that was withdrawn the next day.

The happy band of Muppets on "Sesame Street" has faced the sort of hot spotlight you might expect for the rowdies of "Jersey Shore." Too often, it seems, the show has confronted hairpin detours through the mean streets of politics and scandal.

But the show's producers can take solace in one simple fact: Their target audience remains blissfully unaware that, even on "Sesame Street," everything's not always A-OK. And despite the innate curiosity of children, there are many questions NOT being asked this week by Elmo's most devoted fans.

For instance, kids won't be asking this question, even as their elders raise it: "What made someone accuse Elmo puppeteer Kevin Clash of having sex with him when he was under-age, then recant his accusation a day later?"

Elmo's youngest devotees would instead more likely wonder, "Who is Kevin Clash?"

By now, every grownup who didn't know his name already is acquainted with Clash's longtime role in voicing and animating Elmo. And after the tide of media coverage earlier this week, he is recognized as a 52-year-old man who, for the first time, publicly acknowledged he is gay. Clash also swiftly denied that his accuser was under-age when they had their relationship. Sesame Workshop, which produces "Sesame Street," said its own investigation bore out his claim that the relationship had been between consenting adults.

Clash had gone on voluntary leave from the show when, Tuesday afternoon, the former lover, now in his twenties, withdrew his charge.

Neither Sesame Workshop nor Clash has said when he might return to the show. But presumably he could be back soon, with his young fans none the wiser.

Until then, their charming fantasy can be preserved that Elmo isn't really a puppet but a living, breathing little red monster. That's because in recent months Sesame Workshop, with Clash's participation, has been working to identify a backup puppeteer for Elmo. Just as a successor is being sought for Jerry Nelson, who died in August after decades as the man behind Count von Count. Just as an understudy sometimes climbs into the feathered suit of 78-year-old Caroll Spinney, who has played Big Bird for more than 40 years.

And just as all the creations of Jim Henson survived his sudden and untimely death nearly a quarter-century ago.

As fleeting as childhood — that's how enduring Muppet heroes aim to be. Despite the personal artistry involved, a Muppet character is meant to transcend the human factor. Or, as the Sesame Workshop statement noted on Monday, "Elmo is bigger than any one person."

Now here's one more question kids won't bother to ask: "Can Kevin Clash continue to star as a Muppet 3-year-old now that the world knows he is gay?"

The only reasonable answer to this non-question would be, Why not? "Sesame Street" is a tolerant place, just as are, increasingly, the real-life streets this show prepares its young audience for.

Muppets have even been drawn into the gay rights movement. Remember, an online petition not long ago called for the marriage of Muppet flat-mates Bert and Ernie.

© Copyright 2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.


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Reynolds subsidiary funding cigarette recycling

RICHMOND, Va. — A subsidiary of the nation's second-largest cigarette maker Reynolds American Inc. is funding a national recycling program to reward do-gooders for cleaning up tobacco waste and turn cigarette butts into pellets used to make items such as plastic shipping pallets, railroad ties and park benches.

New Mexico-based Santa Fe Natural Tobacco Co., the maker of Natural American Spirit cigarettes, is teaming up with TerraCycle Inc. for the program. It aims to snuff out one of the most littered items in the U.S. that yields about 135 million pounds of cigarette butts annually and get tossed on roadways, thrown in the trash or put in public ashtrays.

"You don't have to walk or drive very far to see that smokers often discard cigarette waste in ways that litter the environment," Santa Fe's head of sales and marketing, Cressida Lozano, said in a statement. The cost of the company's sponsorship that will be officially announced Thursday was not disclosed.

Through the Cigarette Waste Brigade program, organizations as well as people over the age of 18 can collect cigarette waste and send them to TerraCycle through a prepaid shipping label. Once received, participants will get credits that can be donated to various charities and causes. They'll receive about $1 per pound of litter, which equals about 1,000 cigarette butts.

TerraCycle, based in Trenton, N.J., will then recycle the filters into pellets used to make a number of items, including ashtrays. The paper and tobacco also will be composted. The company took nearly two years to develop the process to recycle cigarette butts, which are comprised of paper, tobacco, ash, and a filter made from cellulose acetate.

TerraCycle CEO and founder Tom Szaky said the program provides a solution for the filters that are properly disposed of in an ashtray or can, but still end up in a landfill.

Szaky said that the company is committed to "recycling waste that others deem worthless or unsavory." Recycling cigarette litter will promote the idea that "everything can and should be recycled," he said.

Cigarette waste accounted for 38 percent of all U.S. roadway litter, according to a 2009 study done by Keep America Beautiful, a nonprofit community action and education organization.

The study also found that cigarette butts were the most common litter item collected at sites including retail areas, storm drains, loading docks, construction sites and recreational areas.

Additionally, more than 1 million cigarettes or cigarette butts — enough to fill nearly 58,000 packs — were removed from American beaches and inland waterways in 2011 as part of the Ocean Conservancy's annual one-day International Coastal Cleanup. Cigarette litter represented about 31 percent of the total debris collected, making it the most-found item as part of those efforts.

"Trash is really too valuable to toss, so we need to find alternative ways to up cycle and change trash and repurpose it," said Nicholas Mallos, a marine debris specialist with group.

In 2003, Keep America Beautiful launched a cigarette litter prevention program, and it has grown to include more than 800 programs in 49 states and Washington, D.C. It was developed with funding from the nation's largest cigarette maker Philip Morris USA, which is owned by Richmond, Va.-based Altria Group Inc. The program also has received additional funding from Winston-Salem, N.C.-based Reynolds American, maker of Camel and Pall Mall cigarettes.

The new cigarette program builds on other recycling efforts by TerraCycle, which encourages consumers to collect difficult-to-recycle materials through programs funded by companies within specific industries. For example, Frito Lay Inc. funds a program to recycle used chip bags and Kraft Foods Inc. sponsors a program to collect plastic containers from dairy products.

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Online:

TerraCycle: http://www.terracycle.com

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