Monday, December 31, 2012

Bears fire coach Lovie Smith after 9 seasons

LAKE FOREST, Ill. (AP) ? The Chicago Bears reached the Super Bowl under coach Lovie Smith and consistently boasted a formidable defense.

However, they missed the playoffs too many times, never solved their problems on offense and even after a 10-win season they are moving on without him.

The Bears fired Smith on Monday after the team missed the playoffs for the fifth time in six seasons. General manager Phil Emery delivered the news to Smith on the day after the Bears beat Detroit to finish 10-6 but still didn't make the playoffs.

Hired in 2004, Smith led the 2006 team to the Super Bowl, but he also saw his team collapse in the second half of the past two seasons. He was let go with a year left on his contract, ending a nine-year run that produced an 81-63 record, three division titles and two appearances in the NFC championship game.

The Bears scheduled a news conference with Emery for Tuesday to discuss the move. Smith was not available for comment, but talked to the team after he was fired.

"He earned even more respect from me, if it was possible," quarterback Jay Cutler said. "He handled it the right way. A lot of character in that man, and it showed up."

Emery appears to be moving quickly in the search for a replacement.

A person familiar with the situation said Denver Broncos offensive coordinator Mike McCoy will interview for the Bears and Arizona Cardinals jobs this week. The person, who spoke to The Associated Press on Monday on condition of anonymity because he wasn't authorized to publicly speak about the interviews, said the talks would take place in Denver.

Even though Chicago closed with a win, the Bears needed a loss by Minnesota to get into the playoffs. The Vikings, though, beat Green Bay to clinch a postseason spot, leaving Chicago as the second team since the postseason expanded to 12 teams to miss out after a 7-1 start. The other was Washington in 1996.

Smith ranks third on the Bears' wins list behind George Halas and Mike Ditka.

The highlight of his tenure was the run to the title game that ended with a loss to the Indianapolis Colts. It was the first time two black coaches met for the championship, with Smith going against his mentor Tony Dungy.

The 2010 team lost to Green Bay in the NFC title game, but the Bears made the playoffs just three times and won three postseason games under Smith.

There was speculation he would be let go following the 2011 team's collapse, but he got one more year while general manager Jerry Angelo was fired. Now, he's out.

Return star Devin Hester was so upset he said he was considering retirement, adding, "I've got my workers' comp papers in my pocket."

Is he hurt?

"Not physically, but mentally," Hester said.

He wasn't ruling out playing next year, either.

While Smith was dismissed, there was no official word on the status of assistant coaches.

"I think we're going to get the best available coordinator, head coach, assistant coaches," Cutler said. "(I'm not going) to speculate where they're going to go. I have no idea. But I trust Phil and everyone involved in the search, and they're going to make the best decisions they can make."

Known for solid defenses, Smith oversaw a unit that was consistently effective and at times ranked among the league's best with stars such as Brian Urlacher, Lance Briggs and later Julius Peppers. Smith emphasized taking the ball away from the opposition, and no team did it more than the Bears with 310 during his tenure.

But on the other side, it was a different story.

Smith went through four offensive coordinators in Terry Shea, Ron Turner, Mike Martz and Mike Tice. He never could find the right formula, even as the Bears acquired stars such as quarterback Jay Cutler and receiver Brandon Marshall over the years.

Smith had no bigger supporter than team matriarch Virginia McCaskey, but the fans seemed split on him.

"The media, the false fans, you all got what you all wanted," Hester said. "The majority of you all wanted him out. As players we wanted him in. I guess the fans ? the false fans ? out-ruled us. I thought he was a great coach, probably one of the best coaches I've ever been around. He brought me in."

History suggests fans hoping for a high-profile replacement such as Bill Cowher or Jon Gruden might be disappointed. The last time the Bears went with an experienced NFL head coach was when Halas returned to the sideline in 1958.

They might, however, go with an offensive-minded coach for the first time since Mike Ditka was fired after the 1992 season, given the issues in that area.

That the Bears would be in this spot seemed unthinkable after they won seven of their first eight games, but the schedule took a tougher turn. Injuries mounted and so did the losses. It was similar to last season when they finished 8-8 after a 7-3 start, a collapse sparked by a season-ending injury to Cutler.

Dismissing Smith was the first move in what looks like a busy offseason. Urlacher has an expiring contract and was limited by knee and hamstring injuries this year.

The Bears might have a decision to make on Cutler, who has one more year left on his contract.

"I think, first and foremost, their concern is going to be with finding coaches, and we'll address it from there," he said.

___

AP Pro Football Writer Arnie Stapleton in Englewood, Colo., contributed to this story.

___

Online: http://pro32.ap.org/poll and http://twitter.com/AP_NFL

Source: http://news.yahoo.com/bears-fire-coach-lovie-smith-9-seasons-173037463--nfl.html

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How The Huang Brothers Bootstrapped Guitar Hero To A Billion Dollar Business

Screen Shot 2012-12-30 at 12.50.24 AMEditor?s note:?Derek?Andersen?is the founder of?Startup Grind, a 35-city event series hosted in 15-countries that educates, inspires, and connects entrepreneurs.?He also founded Commonred (acquired by Income.com) and is?ex-Electronic Arts. There are virtually no companies in Silicon Valley that exit north of $100MM or create a billion dollar business, that?don?t raise Venture Capital funding. Charles and Kai Huang, the founders of Red Octane are the exception having done both. They went on to sell more than 30MM units of Guitar Hero becoming one of the top videogame franchises of all time. Recently I sat down with Charles at Startup Grind and heard this fascinating story. In 1999 Charles and his brother Kai founded Red Octane. Launching six months before Netflix, the goal was to be the Netflix of videogames. But six months after they launched the dot com bubble burst and so did their business. As funding completely dried up, the capital intensive rental business became unfundable. Of that time Charles said, ?It looked like the whole valley was just going to die and go away. So that?s when we scrambled and looked at video game hardware, and eventually videogame software. That was the beginning of what was many lives of Red Octane.? Startup Survival. 2 Weeks Of Cash. They were gamers and were playing a lot of Playstation 1 games, especially the pirated stuff out of Japan. Dance Dance Revolution was just making it?s way to the States so they stated selling dance pads. ?We realized the dance pads that we were buying and reselling were garbage, because they were breaking down and we thought we could make better dance pads than this,? Charles said. ?I literally packed my bags, went to China, visited a few of these factories that made dance pads, figured out how they made them and took a bunch of suggestions that users had given us and incorporated them into new designs and so we started coming out with our own dance pads and believe it or not, that kept the company afloat (from 2001 to 2003).? Everything was sold online due to lack of cash. ?We had to start that way because we couldn’t afford to sell to stores due to cash flow. The way it works is you sell to Gamestop and they don’t pay you for 60 to 90 days. We didn’t have the money to do that, so we had to sell everything

Source: http://feedproxy.google.com/~r/Techcrunch/~3/81i8mgCqGyA/

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Advantages Computers Technology Business in The Workplace ...

Now, computers are having a great impact on many areas in the workplace. When it comes to technology and its impact on business operations, business activities have become much faster and automated enables companies to streamline operations and increase profits. Because of technological advances in computer technology, the workplace has greatly benefited.

With computer technology is becoming an essential part of business operations, new jobs have been created for the management of these systems. Many large companies have IT professionals on staff. Small businesses can use remote computer technicians to keep their computer systems.

Now, companies are able to communicate much faster. For example, email is now the best way to communicate within a company and to communicate with others, such as customers, suppliers, customers, etc ? E-mail are not only fast, but also immediate. There are no interruptions such as when the phone rings. Computers can also be used for corporate events and planning meetings.

Now, more and more companies are realizing the need to maintain good relations with customers. Companies now have access to call center computer that enable customers to achieve proper business department when they have questions or concerns. There is also mailbox speech technology that eliminates the need for message taking. Computer help customers quickly and effectively get their concerns heard that reduces instances of customers frustrated and dissatisfied.

Computers now allow companies to store and manage data as customer information, inventory, sales records, and other information essential to the business. The company can access information at any time of the day or night for rapid recovery, and that the data is secure. Allows companies to keep up-to-date in real-time on the business. In addition, companies are now able to use the internet to sell their products and services that have generated more revenue and expand their customer base. The order process is completely automated and allows the buyer to order online without the intervention of a sales person.

Now, computer technology has made it possible to build products faster. The computers allow the repetitive processing in large scale production such as the use of robotic devices for building products.

In the old days, companies used to have stacks of files and other documents. Now, the documents can be scanned and stored on your computer that allows for easy storage and access.

Now, companies are able to keep more records for financial accounting that eliminates hours of repetitive calculations. Spreadsheets and other financial software programs have become essential for running a business. Data entry is much easier and more accurate.

Due to the development and expansion of the Internet, employees have access to a wealth of information. Moreover, the Internet allows employees to stay in touch with the company anywhere in the world. Employees can also make changes to schedule a time that allows for greater labor flexibility.

The impact of computers in the workplace has greatly benefited businesses. Now, companies can reach customers around the world, improve business efficiency and generate higher profits. When you set up a network of computers and workstations, companies need to be very careful in the systems they use and the parts of the computers they buy such as: software, hardware, sound cards, computer memory, computer accessories, video cards, power , and motherboards. Today, computers have changed the way companies do business for the better.

This entry was posted on December 30, 2012, 10:39 am and is filed under Technology Computers. You can follow any responses to this entry through RSS 2.0. Both comments and pings are currently closed.

Source: http://www.h2gonline.org/advantages-computers-technology-business-in-the-workplace.html

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San Francisco night photography, Bay Bridge photo, rich purple plum, gold lights, dreamy bokeh sparkle twinkle, vacation California romantic by MyanSoffia

Fine art San Francisco photography by Myan Soffia.
A twinkly view of the Bay Bridge at night.

TITLE: let's go for a walk
San Francisco, California January 2012
10x8 fine art photography print by: MyanSoffia.etsy.com

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For CUSTOM sizes or canvas wraps message me here:
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See the last photo above for my price list

Order this image as part of a DISCOUNTED custom set:
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In my shop you will find fine art photography, nursery art, and dreamy home decor. You may notice cities are my favorite subjects as I try to capture them as I see them ... magical, vibrant, & full of life.
And perhaps we've met before? :) My work can be seen on ABC's Modern Family, HBO's Enlightened, FXs Anger Management, ELLE Girl Korea Magazine, Urban Outfitters, FOSSIL life style blog, Apartment Therapy, Decor8, ELLE Espa?a The Elle list, book covers and magazines. Thanks so much for looking, I truly appreciate you stopping by! xx Myan

JOURNAL: InkPaperCamera.blogspot.com

All photographs are captured & processed by me...
? 2008-2012 MyanSoffia.com

?? Visit my shop here or stop by my other photography shop ??
http://www.etsy.com/shop/MyanSoffia | sixthandmain.etsy.com


Have any questions? Contact the shop owner.

Source: http://www.etsy.com/listing/91457684/san-francisco-night-photography-bay

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Install CM10.1 ROM Based on Android 4.2.1 on Samsung Galaxy Tab 10.1 P7510 [Guide]

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Source: au.ibtimes.com --- Sunday, December 30, 2012
Installation guide to update Samsung Galaxy Tab 10.1 P7510 with Android 4.2.1 CM10.1 ROM. ...

Source: http://au.ibtimes.comhttp:0//au.ibtimes.com/articles/419251/20121230/samsung-galaxy-tab2-101-android-jellybean-cm101.htm

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While There Are Some Glimpses Of Progress, Mexico Faces A Long Road To Innovation

long roadEditor?s note:?Maria Rocio Paniagua currently works as a project manager at?Innku, one of the top mobile and web workshops in Mexico. A few weeks ago, Vivek Wadhwa visited Mexico and wrote about the possible opportunities he saw for the Mexican IT sector,?noting manufacturing plans.?In his article, he suggested that?the Mexican technology industry ?leapfrog India? by moving away from IT services and into a different emerging market, grabbing the opportunity of re-automating the American manufacturing industry on markets like artificial intelligence, 3D printing and robotics.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/AcBn_IjGXuo/

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Obama: Troops aiding African diplomat evacuation (The Arizona Republic)

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Gang rape case in India signals deeper problem [ http://dlvr.it/2jwd1T ]

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From The Forums: Windows 9 UI as Star Trek's LCARS

Neowin readers certainly have expressed their opinions on Windows 8 and its new "Modern" UI in the past, and a few have even come up with alternative mockups for how the desktop portion of Windows 8 could be changed. But what should the next version of Windows look like? Today, we put the spotlight on a design for Windows 9 (or perhaps?Windows Blue?) that may look familiar to many of you that was submitted by another one of our community members.

In a forum post called "Windows 9", Neowin member Brian Miller uploaded the image below, with the statement, "The only way I will use Windows again is if Windows Blue looks like this..."

Yes, it's a new Windows interface as if it was being used on the Enterprise in Star Trek: The Next Generation. The official name for the UI is LCARS (Library Computer Access/Retrieval System) and it was created way back in 1987 by Michael Okuda for the hit syndicated TV series. The design was kept for all seven years of the TV show, and was also seen, with some slight variations, on Star Trek: Deep Space Nine, Star Trek: Voyager and all four of the Next Generation movies.

We contacted Miller about the design and he told us, "My boss designed it and shared it with us in an email. I thought I'd post it online. He hates Win8 and said the only way he would use Windows is if they re-did the UI to look like the LCARS interface." He later added, "I'm hoping someone can do a nice mod for Win8 to make it look like that fake screenshot."

What else needs to be said, except maybe, "Engage?"

Images via Paramount Pictures

Source: http://feeds.neowin.net/~r/neowin-main/~3/hVxccgAho9E/from-the-forums-windows-9-ui-as-star-treks-lcars

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Sunday, December 30, 2012

Duck boat sunk in World War II found in Italian lake

The amphibious vehicle sank in Lake Garda, killing 23 US soldiers just days before the end of the fighting in Europe. But the boat, and the remains of the soldiers, were lost until this week.

By Nick Squires,?Correspondent / December 13, 2012

More than 70 years after it sank in a lake in northern Italy causing the loss of 24 American soldiers? lives, a US amphibious vehicle has been found lying on the lake bed.

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Amateur historians had been searching for months for the relic ? a six-wheel, two-ton amphibious DUKW vehicle that sank during a storm on Lake Garda on the night of April 30, 1945 ? but were only able to confirm their find on Monday.

The DUKW, pronounced ?duck,? was carrying supplies and ammunition to an American military camp near the town of Torbole, at the northern tip of the lake, but sank as a result of gale force winds that were battering the area that night.

The truck was carrying 24 US soldiers aged between 18 and 25 from the 10th Mountain Division, only one of whom survived the accident. The men who died were from the division's 605th Field Artillery Battalion, as well as a driver from the Quartermaster Corps.

Days before armistice

The sinking happened just days before the end of fighting in Europe and the armistice with the Germans, on May 8, 1945.

?It was the biggest disaster to happen in modern times on Lake Garda,? said Mauro Fusato, the leader of the team that found the DUKW.?

The wreck of the vehicle was found with sonar lying at a depth of 905 feet ? one reason why it had not been located before.

?On Sunday, the sonar gave us an initial image, but it wasn?t clear enough to be able to say for sure that it was the DUKW,? Mr. Fusato told Ansa, an Italian news agency.

?On Monday, though, we used a remote-controlled camera and we saw it. It is intact and sitting upright.?

The next step is to try to identify any human remains that may still be lying around the wreck, as well as military equipment, insignia, and personal possessions. ?There are lots of objects around it, which could be the skeletons or remains of the soldiers who drowned,? said Fusato.

Any operation to recover them would be highly complex and technically challenging, however. The wreck lies too deep for divers, and there are old fishing nets and other debris on the lake bed that could snag underwater subs. Ultimately it will be up to the US government to decide whether to proceed with a recovery, the researchers said, adding that they had informed American diplomats of the discovery.

Source: http://rss.csmonitor.com/~r/csmonitor/globalnews/~3/rQsrhMDJNcs/Duck-boat-sunk-in-World-War-II-found-in-Italian-lake

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Video: Ringing in the New Year, ?Barefoot Contessa? style

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Source: http://video.today.msnbc.msn.com/today/50323738/

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George H.W. Bush moved out of intensive care

Former President George H.W. Bush remains in a Houston, Texas, hospital due to nagging health issues. NBC's Gabe Gutierrez reports.

By Reuters

Former President George H.W. Bush's condition has improved enough for him to be moved out of the intensive care unit and into a regular patient room at the Houston hospital where he has been receiving treatment, a spokesman said on Saturday.

Bush, 88, entered Methodist Hospital on Nov. 23 with bronchitis. He was sent to intensive care last Sunday after setbacks including a persistent fever.

"The Bushes thank everyone for their prayers and good wishes," said a statement from the former president's spokesman.

Bush was the 41st U.S. president and is the father of former President George W. Bush. In a political career spanning four decades, Bush, a Republican, also served as a congressman, ambassador to the United Nations, envoy to China, CIA director, and vice president for two terms under Ronald Reagan.

Bush has lower-body parkinsonism, which causes a loss of balance, and has used a wheelchair for more than a year.

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Source: http://usnews.nbcnews.com/_news/2012/12/29/16237456-george-hw-bush-moved-out-of-intensive-care?lite

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Jeep Grand Cherokee SRT8 Hyun Black Edition Debuts in China

Car News, China ? By Earlsimx on December 30, 2012 at 8:24 am ? No Comments

Jeep Grand Cherokee SRT8 Hyun Black Edition

Jeep has introduced the Grand Cherokee SRT8 Hyun Black Edition in China. This particular version is similar to the SRT-8 Vapor Edition meaning the only difference is in their names. Just like the name suggests, this Jeep comes in a piano black paint with a black grille, exhaust pipes and also the 20 inch five-spoke alloys are black with some alu not to mention the tinted bi-xenon headlights.

Under the hood, it features a 6.4 liter HEMI V8 engine that develops 461bhp and 624Nm of torque. It goes from naught to 60mph in 4.8 seconds all the way to attain a top speed of 160mph. The Grand Cherokee SRT8 Hyun Black Edition is priced at 1.19 million yuan or an equivalent of $ 190,000.

[Via Autohome]

Source: http://feedproxy.google.com/~r/GTspirit/~3/PMgLBRmMo74/

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decreeing quoin: Stepparenting & Blended Families 2013 ...

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Remarried with Children: Ten Secrets for Successfully Blending and Extending Your Family
by Barbara LeBey
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Stepparenting & Blended Families

It's the most daunting task many parents will ever face: bringing two growing families together into one brand new marriage. But even though statistics show that most remarriages are at high risk--especially when there are kids involved--more and more people are learning how to make them work and more and more kids are coming out of them with their psyches and souls intact. This honest and hopeful book looks at those successes--and at some failures--to show what they have in common: ten essential secrets that are at the heart of a healthy blended family.

As a stepparent with six children in a blended family, Barbara LeBey draws on her own family's hard-won success, as well as on extensive interviews and new research to show how to navigate the stresses, sticking points, pitfalls and perils most couples don't even anticipate. Starting with her first controversial secret--that the new marriage comes first, even before the demands of the children--LeBey debunks prevalent stepfamily myths and anticipates common traps. (Among them, money issues, warring stepsiblings, and destructive exes.) A strong advocate for children (including how to guard against fade-out parenting), she also suggests ways that in-laws, schools, and the legal system itself could provide better support for blended families. REmarried with Children is an expert, compassionate, down-to-earth book to turn to over and over again for advice, support and sanity.

Key topics include how to:

-Meet your children's and stepchildren's needs--without letting them undermine your new marriage

-Understand the new roles, new rules, and the new relationships for children and stepchildren of a blended family

-Deal with angry and/or manipulative exes--without adding fuel to the fire

-Handle key decisions about finances, religion, traditions, behavior and discipline

-Maintain healthy relationships with your children's grandparents--and other relatives--from a previous marriage

-Recognize warning signs of trouble ahead--and get the help you need

From the Hardcover edition.

  • Rank: #417538 in Books
  • Published on: 2005-10-25
  • Released on: 2005-10-25
  • Original language: English
  • Number of items: 1
  • Dimensions: 9.06" h x .75" w x 5.91" l, .71 pounds
  • Binding: Paperback
  • 320 pages

Source: http://hotstepparentingblendedfamilies583.blogspot.com/2012/12/remarried-with-children-ten-secrets-for.html

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Facebook Instagram use dived after photo fiasco: AppData

SAN FRANCISCO (Reuters) - Facebook Inc's Instagram lost almost a quarter of its daily users a week after it rolled out and then withdrew policy changes that incensed users who feared the photo-sharing service would use their pictures without compensation.

Instagram, which Facebook bought for $715 million this year, saw the number of daily active users who accessed the service via Facebook bottom out at 12.4 million as of Friday, versus a peak of 16.4 million last week, according to data compiled by online tracker AppData.

The popular app, which allows people to add filters and effects to photos and share them over the Internet or smartphones, experienced the drop over the brief, often-volatile holiday period.

Other popular apps also saw slippage in usage, and some were more pronounced. Yelp, for instance, saw daily active users -- again via Facebook -- slide to a weekly low of half a million on Thursday, from a high of 820,000 one week ago.

Instagram disputed the AppData survey, which was compiled from users that have linked the photo service to their own Facebook accounts, historically between 20 and 30 percent of Instagram members.

"This data is inaccurate. We continue to see strong and steady growth in both registered and active users of Instagram," a spokeswoman said in an emailed statement on Friday.

Looking out over a broader timeframe, Instagram's monthly active users edged up to 43.6 million as of Friday, an increase of 1.7 million over the past seven days, according to AppData.

"We'll have to monitor the data over the coming weeks to gain perspective on trends in Instagram's performance," AppData marketing manager Ashley Taylor Anderson said in an email.

ATTENTION-SEEKING

The sharp slide in activity highlighted by AppData was bound to draw attention on the heels of the controversial revision to Instagram's terms of service that, among other things, allowed an advertiser to pay Instagram "to display your username, likeness, photos (along with any associated metadata)" without compensation.

The subsequent public outrage prompted an apology from Instagram founder Kevin Systrom. Last week, a California Instagram user sued the company for breach of contract and other claims, in what may have been the first civil lawsuit to stem from the controversial change.

Instagram subsequently reverted to some of its original language.

The move renewed debate about how much control over personal data users must give up to live and participate in a world steeped in social media.

Analysts say Facebook, the world's largest social network, was laying the groundwork to begin generating advertising revenue, by giving marketers the right to display profile pictures and other personal information, such as who users follow in advertisements.

Its shares closed down 13 cents or 0.5 percent at $25.91 on the Nasdaq, in line with the broader market.

(Reporting By Edwin Chan; Editing by Leslie Adler and Andrew Hay)

Source: http://news.yahoo.com/facebooks-instagram-usage-dived-photo-brouhaha-appdata-194043314--sector.html

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Saturday, December 29, 2012

India rape victim's body cremated in New Delhi

An Indian participates in a candle-lit vigil to mourn the death of a gang rape victim in New Delhi, India, Saturday, Dec. 29, 2012. Indian police charged six men with murder on Saturday, adding to accusations that they beat and gang-raped the woman on a New Delhi bus nearly two weeks ago in a case that shocked the country. The murder charges were laid after the woman died earlier Saturday in a Singapore hospital where she has been flown for treatment. (AP Photo/ Dar Yasin)

An Indian participates in a candle-lit vigil to mourn the death of a gang rape victim in New Delhi, India, Saturday, Dec. 29, 2012. Indian police charged six men with murder on Saturday, adding to accusations that they beat and gang-raped the woman on a New Delhi bus nearly two weeks ago in a case that shocked the country. The murder charges were laid after the woman died earlier Saturday in a Singapore hospital where she has been flown for treatment. (AP Photo/ Dar Yasin)

A young Indian girl leads a protest march while holding torches as they mourn the death of a gang rape victim in New Delhi, India, Saturday, Dec. 29, 2012. Indian police charged six men with murder on Saturday, adding to accusations that they beat and gang-raped the woman on a New Delhi bus nearly two weeks ago in a case that shocked the country. The murder charges were laid after the woman died earlier Saturday in a Singapore hospital where she has been flown for treatment.(AP Photo/ Dar Yasin)

Indian men and women lie down on the ground mimicking dead bodies as they mourn the death of a gang rape victim in New Delhi, India, Saturday, Dec. 29, 2012. Shocked Indians on Saturday were mourning the death of the woman who was gang-raped and beaten on a bus in New Delhi nearly two weeks ago in an ordeal that galvanized people to demand greater protection for women from sexual violence. (AP Photo/ Saurabh Das)

Indians participate in a candle lit vigil to mourn the death of a gang rape victim in New Delhi, India , Saturday, Dec. 29, 2012. Indian police charged six men with murder on Saturday, adding to accusations that they beat and gang-raped the woman on a New Delhi bus nearly two weeks ago in a case that shocked the country. The murder charges were laid after the woman died earlier Saturday in a Singapore hospital where she has been flown for treatment. (AP Photo/Altaf Qadri)

Indians participate in a candle lit vigil as they mourn the death of a gang rape victim in New Delhi, India, Saturday, Dec. 29, 2012. Indian police charged six men with murder on Saturday, adding to accusations that they beat and gang-raped the woman on a New Delhi bus nearly two weeks ago in a case that shocked the country. The murder charges were laid after the woman died earlier Saturday in a Singapore hospital where she has been flown for treatment. (AP Photo/Altaf Qadri)

NEW DELHI (AP) ? The body of a young woman who was gang-raped and brutally beaten on a moving bus in India's capital has been cremated.

Indian police have charged six men with murder in the Dec. 16 attack, which shocked the country and triggered protests for greater protection for women from sexual violence.

The murder charges were laid Saturday, hours after the woman died in a Singapore hospital, where she had been flown for treatment.

Her body was cremated in a private ceremony Sunday in New Delhi soon after its arrival from Singapore on a special Air-India flight.

Prime Minister Manmohan Singh and Sonia Gandhi, head of the ruling Congress party, were at the airport to receive the body and meet family members of the victim who had also arrived on the flight.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/cae69a7523db45408eeb2b3a98c0c9c5/Article_2012-12-30-Singapore-India-Gang%20Rape/id-be4401b1f818445c90c00902d9e1da0f

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Nigeria rights leader blasts journalists detention

LAGOS, Nigeria (AP) ? Nigeria's National Human Rights Commission has criticized the nation's secret police for detaining two journalists for days without charges.

Commission chairman Chidi Odinkalu issued a statement Saturday saying the detention of Musa Mohammed Awwal and Aliyu Saleh, journalists with the weekly Hausa language newspaper Al-Mizan, did "not pass constitutional muster." Odinkalu called on the secretive State Security Service to allow commission staff to have access to the men, as they've been denied opportunities to meet with the lawyer or receive medical attention.

The two journalists were arrested early Monday morning at their homes in Kaduna. Their newspaper has published a series of stories about alleged military abuses and the radical Islamist sect Boko Haram.

Boko Haram is waging an increasingly bloody guerrilla fight against Nigeria's weak central government.

Source: http://news.yahoo.com/nigeria-rights-leader-blasts-journalists-detention-141952790.html

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As ?fiscal cliff? deadline nears, OPM updates furlough guidelines (Washington Post)

Share With Friends: Share on FacebookTweet ThisPost to Google-BuzzSend on GmailPost to Linked-InSubscribe to This Feed | Rss To Twitter | Politics - Top Stories Stories, News Feeds and News via Feedzilla.

Source: http://news.feedzilla.com/en_us/stories/politics/top-stories/273553266?client_source=feed&format=rss

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Junior Dos Santos vs. Cain Velasquez: Final Preview and Prediction

Tonight from Las Vegas, the UFC heavyweight title is on the line between Junior "Cigano" dos Santos, and the former champion, Cain Velasquez.

Dos Santos and Velasquez have met before, at the first UFC on Fox card last November. In that fight, dos Santos knocked out Velasquez in 64 seconds and became the new champion.

From there, both fighters would compete again at UFC 146, although against different opponents. Dos Santos would defend his heavyweight title against the former champion, Frank Mir, and Velasquez would face off against Antonio Silva in his first UFC fight. Dos Santos beat Mir by second-round TKO and Velasquez beat Silva by first-round TKO.

Tonight, dos Santos and Velasquez will meet for a second time, this time with dos Santos as champion. The first fight between these two lasted only 64 seconds, but there is still plenty that can be taken from that.

Velasquez was throwing a lot of leg kicks, and his game plan clearly involved taking away the lead leg of dos Santos. Additionally, expect Velasquez to shoot early and shoot often. He has seen the power of dos Santos, and he doesn't want to see it again.

Dos Santos is going to do what he always does: stand up with his opponents, avoid takedowns and pick his opponents apart with his boxing. Dos Santos has incredible speed and power, and he will use that to his advantage, as he always does.

    Who Wins?

  • Junior dos Santos (c)

  • Cain Velasquez

Many are saying that the first fight between these two was a fluke, or that Velasquez's knee injury affected the fight heavily. That may or may not be true, but don't expect anything to change this time around. Dos Santos will still come out with a knockout victory, it just won't be as fast as last time.

By the fourth round, dos Santos will land an uppercut and put Cain out cold to defend his title and tie the record for most consecutive UFC heavyweight title defenses.

?

Tim McTiernan is a Featured Columnist for Bleacher Report. For the latest news on everything?MMA, follow him on Twitter?@TimMcTiernan.

Source: http://bleacherreport.com/articles/1461558-junior-dos-santos-vs-cain-velasquez-final-preview-and-prediction

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C. Altheide (The death of computer forensics: digital forensics after ...

Cory Altheide, Security Engineer, Forensics & Incident Response, Google Inc. Every new advance in computing technology brings about cries of doom from forensics practitioners. Each step forward for computing will inevitably bring about the end of our discipline and allow computer criminals to operate with impunity, they say. This attitude mirrors what science fiction authors have called the ?technological singularity? ? a point of technological advancement so rapid that the ?future? becomes nearly impossible to predict. In this talk, I will discuss current and near-future trends and advances in cloud & mobile computing and digital storage which may mark the end of traditional ?computer? forensics, while making the role of modern ?digital? forensics even more important.
Video Rating: 5 / 5

Source: http://www.newdistinctsounds.com/c-altheide-the-death-of-computer-forensics-digital-forensics-after-the-singularity/

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Yale under fire for new campus in restrictive Singapore

NEW HAVEN (Reuters) - For more than 300 years, Yale University has prided itself on training top students to question and analyze, to challenge and critique.

Now, Yale is seeking to export those values by establishing the first foreign campus to bear its name, a liberal arts college in Singapore that is set to open this summer. The ambitious, multimillion-dollar project thrills many in the Yale community who say it will help the university maintain its prestige and build global influence.

But it has also stirred sharp criticism from faculty and human-rights advocates who say it is impossible to build an elite college dedicated to free inquiry in an authoritarian nation with heavy restrictions on public speech and assembly.

"Yale's motto is 'Lux et veritas,' or 'Light and truth,'" said Michael Fischer, a Yale professor of computer science. "We're going into a place with severe curbs on light and truth ... We're redefining the brand in a way that's contrary to Yale's values."

Yale President Richard Levin describes the new venture as a chance to extend Yale's tradition of nurturing independent thinkers to a dynamic young nation at the crossroads of Asia. In the 19th century, Yale scholars fanned out to launch dozens of American colleges, Levin noted in a 2010 memo presenting the concept to faculty. "Yale could influence the course of 21st century education as profoundly," he wrote.

Levin, who spent years expanding Yale's campus in New Haven before initiating the Singapore project in 2010, has announced plans to retire at the end of the academic year. His successor, Yale Provost Peter Salovey, also supports the Singapore venture.

Working with the National University of Singapore, or NUS, Yale is building a comprehensive liberal arts college from scratch. The school will offer majors from anthropology to urban studies, electives from fractal geometry to moral reasoning, and a rich menu of extracurricular activities -- sports, drama, debate, even a juggling club.

Scheduled to open this summer with 150 students, it is slated to grow to about 1,000 undergraduates living in a high-rise campus now under construction.

While American universities have been venturing overseas for decades, they have mostly offered tightly focused degree programs, often for graduate students. The closest analogy to the Yale project may be New York University's branch campuses now under construction in Abu Dhabi and Shanghai.

But the new NYU campuses are extensions of the university. The Yale venture, which targets top students from around the globe, is an unusual hybrid.

It will be called Yale-NUS College. It will draw some faculty -- and its inaugural president, Pericles Lewis -- straight from New Haven. Students will spend the summer before freshman year in New Haven, attending seminars with Yale faculty. When they graduate, they will be welcomed into the Association of Yale Alumni.

Yet Yale officials are emphatic that the new school is not a branch campus. The degrees it issues will not be Yale degrees.

"It is not Yale," said Charles Bailyn, an astronomy professor on leave from Yale to serve as the founding dean of Yale-NUS.

OPPORTUNITY OR "FRANKENYALE"?

The new college will be funded entirely by the Singapore government, which will also subsidize tuition. Singapore citizens will pay about $18,000 a year, including room and board. International students will pay about $43,000 unless they secure a discount by committing to work for a Singapore company for three years after graduation.

Yale and Singapore will get an equal number of seats on the new college's governing board -- but Singapore's education minister must approve all the Yale nominees.

The arrangement exposes Yale to risk because its name is on the college, yet the university does not have control over the end product, said Richard Edelstein, who studies trends in higher education at the University of California at Berkeley. One angry member of Yale's faculty, Christopher Miller, a professor of French and African American studies, has dubbed the venture "Frankenyale."

Those involved in the project say the novel structure is a boon that will enable educational experimentation, with an emphasis on interdisciplinary seminars and student research. It's a "once-in-a-lifetime opportunity to build a new college program from the ground up," said Yale anthropologist Bernard Bate, who has signed on to teach in Singapore.

He and others say they will bring the best of their new approach back to New Haven. And they contend that fears about censorship in Singapore are wildly overblown.

That issue came to the fore last spring, when Yale faculty voted 100 to 69 for a resolution raising concern about the venture in light of "the history of lack of respect for civil and political rights" in Singapore.

Human Rights Watch, the international advocacy group, subsequently accused Yale of "betraying the spirit of the university." This month the American Association of University Professors weighed in, expressing concern about the project's implications for academic freedom.

Singapore, an island nation in southeast Asia, is a democracy but has been dominated by one political party since securing independence from Britain half a century ago. In the name of stability and security, the government restricts public demonstrations to a corner of one park and heavily regulates news and entertainment, according to the U.S. State Department.

Last year a British author was jailed for writing a book critical of Singapore's judiciary. This spring the government prevented an opposition politician from leaving the country to speak at the Oslo Freedom Forum.

Still, Yale faculty working on the new college said they had spoken with foreign professors teaching on other campuses in Singapore and came away convinced that academic freedom would be respected.

George Bishop, a Yale PhD who been teaching psychology at the National University of Singapore since 1991, says he has never felt restricted. In a class on the AIDS epidemic, he and his students freely discuss how Singapore's anti-sodomy laws hinder the nation's public-health response.

"We criticize the government all the time in class," said Bishop, who has joined the faculty of the new college.

PLENTY OF APPLICANTS

Yet Yale-NUS will not be free and open in the way American students may expect.

Singapore bans speech deemed to promote racial or religious strife. As long as they toe that line, students will be free to hear speakers and express views inside campus buildings. But many outdoor assemblies will require a government permit, Yale-NUS President Lewis said. Singapore law defines "assembly" quite broadly, to include a single protester holding a sign or an open-air debate.

"Can you march on City Hall?" asked Bailyn, the Yale-NUS dean. No, he answered -- but said that didn't trouble him, as "that's not really an educational matter." Bailyn said he had been promised complete freedom with "the core mission of the college -- researching, teaching, unfettered discussion."

Indeed, Yale-NUS faculty say they expect Singapore to be cautious about interfering with the new college for fear of provoking an incident and prompting Yale to withdraw its name.

"We know what a liberal arts education is, what intellectual freedom is," said Keith Darden, a political scientist at Yale, "and we'll accept nothing less than that for ourselves and our students."

Under the philosophical questions lies a pragmatic one: Will the new college succeed?

For all its wealth, Singapore has not always proved an ideal marketplace for higher education. Australia's University of New South Wales opened a campus in Singapore in 2007 -- only to shut it after one semester because of low enrollment. This fall, NYU announced it would close its graduate film school in Singapore because of financial trouble.

Other American ventures in Singapore have done better, including a music conservatory developed by Johns Hopkins University.

Interest in Yale-NUS is running high. Almost 2,600 students from around the globe have applied for the initial 150 spots. Several dozen have already been accepted -- among them, Singaporean students who suggest Yale's faculty might do well to back off the criticism and trust in the value of the liberal arts education they hold so dear.

"Ideological purity and moral righteousness from these critics will not make Singapore a free society, but education and the spread of ideas will," Jared Yeo, a Singapore native accepted to Yale-NUS, wrote on the college's blog.

Perhaps the most pointed critique of the New Haven protests came from E-Ching Ng, a Singaporean who earned an undergraduate degree at Yale and remained on campus to study linguistics. In a column in the Yale Daily News last spring, she urged faculty to respect the rules Singapore has developed to maintain public order.

"Qur'an burning is illegal in Singapore, and we like it that way," she wrote. "We prioritize our values differently, and different doesn't mean wrong. At least, that's what I learned from a Yale liberal arts education."

(Reporting By Stephanie Simon in New Haven. Additional reporting by Kevin Lim in Singapore. Editing by Jonathan Weber and Douglas Royalty.)

Source: http://news.yahoo.com/yale-under-fire-campus-restrictive-singapore-060555413.html

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Global stocks drop, dollar up as "cliff" deadline looms

NEW YORK (Reuters) - World stocks declined, the dollar gained and U.S. shares fell for a fifth day on Friday as the White House and U.S. lawmakers closed in on the "fiscal cliff" deadline with no deal in place.

President Barack Obama and Democratic and Republican lawmakers met Friday as they faced just days to reach a budget deal to avert massive tax increases and spending cuts that could drag the U.S. economy, the world's biggest, into recession.

The two sides are attempting to smooth over sharp differences on raising taxes on the wealthiest Americans and cutting spending on politically sensitive social welfare programs such as Medicare and Medicaid. But investors were skeptical that a deal could be accomplished before the deadline.

The MSCI all-world share index <.miwd00000pus> was down 0.5 percent, and the pan-European FTSEurofirst 300 <.fteu3> ended down 0.6 percent.

In U.S. trading, the Standard & Poor's 500 Index <.spx> was down 15.67 points, or 1.11 percent, at 1,402.43, marking a fifth straight decline for the longest losing streak in three months.

The Dow Jones industrial average <.dji> was down 158.20 points, or 1.21 percent, at 12,938.11, while the Nasdaq Composite Index <.ixic> was down 25.59 points, or 0.86 percent, at 2,960.31.

"There's a pretty good chance that we won't have something in hand by year-end," said Jonathan Golub, chief U.S. equity strategist at UBS, in New York. "It should be pretty obvious that that is now the majority case."

Golub, however, said investors were still counting on a deal that would avoid most of the tax hikes and spending cuts next year even if it does come after the deadline.

Allowing $600 billion of higher taxes and spending cuts to start in January would prevent U.S. debt spilling beyond a $16.4 trillion agreed limit. Analysts fear the measures could wipe as much as 4 percent off the country's growth rate.

Energy companies were among the biggest decliners on Wall Street, with shares of Exxon Mobil down 2 percent at $85.10 and the S&P energy index <.gspe> leading sector losses.

DOLLAR RISES

The U.S. dollar edged up to a two-week high against major currencies as investors waited to see if U.S. politicians can strike a last-minute budget deal.

"Headline risk is likely to remain a driver of FX markets in the near term," said Eric Theoret, FX strategist at Scotia Capital in Toronto.

An agreement on the U.S. budget would be viewed as positive for riskier currencies such as the euro and Australian dollar, while a deadlock is deemed positive for the safe-haven and highly liquid dollar.

Against a basket of currencies at 79.930, the dollar was last up 0.1 percent at 79.665 <.dxy>.

At the same time, expectations that Japan will inject new stimulus into its economy pushed the yen to yet another two-year low for a third straight day.

The dollar was steady against the yen at 86.06 yen, having earlier risen to 86.63 yen, its strongest since August 2010.

In the U.S. bond market, benchmark Treasury debt prices rose for a third consecutive session on safe-haven buying as the faded hopes for a deal on the fiscal cliff.

Benchmark 10-year notes traded 12/32 higher in price, with yields falling to 1.69 percent, marking the lowest in two weeks and down from 1.73 percent late Thursday. Benchmark notes posted their biggest daily dip in yield in over seven weeks and were down about 8 basis points on the week.

OIL EASES

U.S. February crude slipped 7 cents, or 0.08 percent, to settle at $90.80. Trade was choppy, awaiting news on the U.S. budget talks, but the market was pressured by data showing that fuel stockpiles rose sharply and crude stocks fell less than expected last week.

Brent February crude fell 18 cents, or 0.16 percent, to settle at $110.62.

In other commodity markets, U.S. gold futures for February delivery settled down $7.80, or 0.5 percent, at $1,655.90 an ounce in New York.

Traditionally a safe haven and inflation hedge that investors rush to in times of trouble, gold has lately behaved like a risk asset - often rising and falling with the stock market and sometimes following the dollar.

(Additional reporting by Robert Gibbons, Wanfeng Zhou, Barani Krishnan, Edward Krudy and Karen Brettel in New York; Editing by Kenneth Barry, Dan Grebler and Leslie Adler)

Source: http://news.yahoo.com/yen-extends-fall-asian-shares-capped-u-fiscal-002858594--finance.html

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US leaves C. African Republic amid security woes

BANGUI, Central African Republic (AP) ? Security concerns deepened in the capital of Central African Republic on Friday after the U.S. ambassador and his diplomatic team were evacuated out of the country by plane overnight amid fears rebels could try to take the capital.

U.S. officials said about 40 people were evacuated on an U.S. Air Force plane bound for Kenya. The officials spoke on condition of anonymity because they weren't authorized to discuss the details of the operation.

The evacuation came after President Francois Bozize on Thursday urgently called on former colonial ruler France and other foreign powers to help his government fend off rebels who are quickly seizing territory and approaching the capital.

The U.N.'s most powerful body condemned the recent violence and expressed concern about the developments.

"The members of the Security Council reiterate their demand that the armed groups immediately cease hostilities, withdraw from captured cities and cease any further advance towards the city of Bangui," the statement said.

Central African Republic has a history of violent change in government. The current president himself came to power nearly a decade ago in the wake of a rebellion in this resource-rich yet deeply poor country.

Speaking to crowds in Bangui, a city of some 600,000, Bozize pleaded with foreign powers to do what they could. He pointed in particular to France, Central African Republic's former colonial ruler. About 200 French soldiers are already in the country, providing technical support and helping to train the local army, according to the French defense ministry.

"France has the means to stop (the rebels) but unfortunately they have done nothing for us until now," Bozize said.

French President Francois Hollande said Thursday that France wants to protect its interests in Central African Republic and not Bozize's government. The comments came a day after dozens of protesters, angry about a lack of help against rebel forces, threw rocks at the French Embassy in Bangui and stole a French flag.

Paris is encouraging peace talks between the government and the rebels, with the French Foreign Ministry noting in a statement that negotiations are due to "begin shortly in Libreville (Gabon)." But it was not immediately clear if any dates have been set for those talks.

French Foreign Minister Laurent Fabius spoke via phone with Bozize, asking the president to take responsibility for the safety of French nationals and diplomatic missions in Central African Republic.

Bozize's government earlier reached out to longtime ally Chad, which pledged to send 2,000 troops to bolster Central African Republic's own forces.

This landlocked nation of some 4.4 million people has suffered decades of army revolts, coups and rebellions since gaining independence in 1960 and remains one of the poorest countries in the world.

The rebels behind the most recent instability signed a 2007 peace accord allowing them to join the regular army, but insurgent leaders say the deal wasn't fully implemented. The rebel forces have seized at least 10 towns across the sparsely populated north of the country, and residents in the capital now fear the insurgents could attack at any time, despite assurances by rebel leaders that they are willing to engage in dialogue instead of attacking Bangui.

The rebels have claimed that their actions are justified in light of the "thirst for justice, for peace, for security and for economic development of the people of Central African Republic."

Despite Central African Republic's wealth of gold, diamonds, timber and uranium, the government remains perpetually cash-strapped. Filip Hilgert, a researcher with Belgium-based International Peace Information Service, said rebel groups are unhappy because they feel the government doesn't invest in their areas.

"The main thing they say is that the north of the country, and especially in their case the northeast, has always been neglected by the central government in all ways," he said.

The rebels also are demanding that the government make payments to ex-combatants, suggesting that their motives may also be for personal financial gain.

___

Larson reported from Dakar, Senegal. Associated Press writer Sarah DiLorenzo in Paris contributed to this report.

Source: http://news.yahoo.com/us-leaves-c-african-republic-amid-security-woes-110411810.html

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Post-Christmas Shopping: What To Buy With Your Gift Cards ...

Spicy subscriptions
Give yourself a romantic gift with Spicy Subscriptions' Spice Box.

Now you're shopping for yourself? Here's how to make it good.

Now that Christmas is over, and you've already found the perfect present for your loved ones, it's time to get down to the next order of gift-giving business: Tackling all of those gift cards.

Here's how to get the most bang for your buck for treating yourself, whether you have money toward Amazon or Walmart.?

More from YourTango: Is A Bad Credit Score The New STD?

1.?American Express
It's easy to spend this extra cash on food, drinks and cab rides, but why not treat yourself to something special ? something that will last all year long? Put your Amex gift card toward?Spicy Subscriptions,?a monthly service that sends an assortment of romance and intimacy products. Not only will it heat things up for you and your partner each month, but you never even have to set foot in an adult store. From personal toys to oils, the Spice Box is the flirty gift that keeps on giving. Try the Premium Spice Box for $20.95/month or the Deluxe Spice Box?for?$34.95/month.

More from YourTango: Matchmaking Tips: How to Set Up Your Friends

2. Amazon
There's no better time to get yourself expensive beauty products than during the holidays ? and with an Amazon gift card they don't even have to be expensive. During it's year-end sale, Amazon is selling it's beauty products for 10% to 75% off. ?That means Burberry perfume, Chanel lipstick and more for affordable prices. StriVectin Deep Wrinkle Serum for?$35? Yes, please.

3. Starbucks
Ever feel like your Starbucks gift card isn't put to good use when all you can get out of it is a few drinks? This year, become your own barista and purchase your favorite syrups and sauces to make your own delicious drinks. You can even buy their seasonal items and serve up Peppermint Mochas long after Starbucks stops making them. Keep reading ...

Source: http://www.yourtango.com/2012169218/post-christmas-shopping-how-spend-your-gift-cards

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Friday, December 28, 2012

Fewer US banks failing as industry strengthens

WASHINGTON (AP) ? U.S. banks are ending the year with their best profits since 2006 and fewer failures than at any time since the financial crisis struck in 2008. They're helping support an economy slowed by high unemployment, flat pay, sluggish manufacturing and anxious consumers.

As the economy heals from the worst financial crisis since the Great Depression, more people and businesses are taking out ? and repaying ? loans.

And for the first time since 2009, banks' earnings growth is being driven by higher revenue ? a healthy trend. Banks had previously managed to boost earnings by putting aside less money for possible losses.

Signs of the industry's gains:

? Banks are earning more. In the July-September quarter, the industry's earnings reached $37.6 billion, up from $35.3 billion a year earlier. It was the best showing since the July-September quarter of 2006, long before the financial meltdown. By contrast, at the depth of the Great Recession in the last quarter of 2008, the industry lost $32 billion.

? Banks are lending a bit more freely. The value of loans to consumers rose 3.2 percent in the 12 months that ended Sept. 30 compared with the previous 12 months, according to data from the Federal Deposit Insurance Corp. More lending fuels more consumer spending, which drives about 70 percent of economic activity. At the same time, overall lending remains well below levels considered healthy over the long run.

? Fewer banks are considered at risk of failure. In July through September, the number of banks on the FDIC's confidential "problem list" fell for a sixth straight quarter. These banks numbered 694 as of Sept. 30 ? about 9.6 percent of all federally insured banks. At its peak in the first quarter of 2011, the number of troubled banks was 888, or 11.7 percent of all federally insured institutions.

? Bank failures have declined. In 2009, 140 failed. In 2010, more banks failed ? 157 ? than in any year since the savings and loan crisis of the early 1990s. In 2011, regulators closed 92. This year, the number of failures has trickled to 51. That's still more than normal. In a strong economy, an average of only four or five banks close annually. But the sharply reduced pace of closings shows sustained improvement.

? Less threat of loan losses. The money banks had to set aside for possible losses fell 15 percent in the July-September quarter from a year earlier. Loan portfolios have strengthened as more customers have repaid on time. Losses have fallen for nine straight quarters. And the proportion of loans with payments overdue by 90 days or more has dropped for 10 straight quarters.

"We are definitely on the back end of this crisis," says Josh Siegel, chief executive of Stonecastle Partners, a firm that invests in banks.

The biggest boost for banks is the gradually strengthening economy. Employers added nearly 1.7 million jobs in the first 11 months of 2012. More people employed mean more people and businesses can repay loans. And after better-than-expected economic news last week, some analysts said the economy could end up growing faster in the October-December quarter ? and next year ? than previously thought.

That assumes Congress and the White House can strike a budget deal to avert the "fiscal cliff" ? the steep tax increases and spending cuts that are set to kick in Jan. 1. If they don't reach a deal, those measures would significantly weaken the economy.

Banks have also been bolstered by higher capital, their cushion against risk. Banks boosted capital 3.8 percent in the third quarter, FDIC data show. And the industry's average ratio of capital to assets reached a record high.

On the other hand, many banks are no longer benefiting from record-low interest rates. They still pay almost nothing to depositors and on money borrowed from other banks or the government. But steadily lower rates on loans other than credit cards have reduced how much banks earn.

"This interest-rate pressure on the banks becomes very difficult to overcome," says Fred Cannon, chief equity strategist and director of research at Keefe, Bruyette & Woods. "It's a big headwind for banks."

Many banks have reported lower net interest margin ? the difference between the income they receive from loans and the interest they pay depositors and other lenders. It's a key measure of a bank's profitability.

The industry's average net interest margin fell to 3.43 percent in the third quarter from 3.56 percent a year earlier.

Some big banks have also cautioned that their earnings are up mainly because they've shed jobs, bad loans and weak businesses rather than because of an improved economy. They include JPMorgan Chase & Co., Bank of America Corp., Citigroup Inc. and Wells Fargo & Co. All managed to recover from the financial crisis in part because of federal aid.

Small and midsize banks have taken longer to rebound. They held risky commercial real estate loans used to develop malls, industrial sites and apartment buildings. Many such loans weren't repaid. But as the economy has strengthened, fewer such loans have soured, and many small and medium-size banks have recovered.

For example, at M&T Bank Corp., a regional institution based in Buffalo, N.Y., net income soared in the third quarter. M&T attributed its gain to reduced loan losses and higher mortgage revenue. The bank repaid the remaining $381 million of the $600 million in bailout aid it had received during the crisis.

Yet analysts say regional banks are still feeling squeezed from reduced borrowing by companies.

Many banks complain they've been hampered by new regulations, especially stricter requirements for the capital they must hold to protect against unexpected losses. Rules enacted after the crisis have compelled some banks to move more capital into reserves and reduce the amount available to lend.

Some of the biggest banks say their customers have held off on borrowing in part because of slower global growth and concern about the "fiscal cliff."

To avoid a collapse, some weak banks have sought mergers with larger institutions. In the July-September quarter, 49 banks were absorbed in mergers, up from 45 in the April-June quarter, FDIC data show.

The torrent of failures after the crisis and the increased mergers have thinned the number of banks to 7,181 with about 2.1 million employees as of Sept. 30. That compares with 8,451 banks with 2.2 million employees in the second quarter of 2008.

"The pressure is on to consolidate the industry," says Siegel of Stonecastle Partners. He thinks more than 1,000 banks will be absorbed within five to seven years.

Consider BancTrust Financial Group Inc., based in Mobile, Ala., with around $1.3 billion in assets. Burdened with bad loans tied to Florida real estate, the bank couldn't repay $50 million in federal bailout aid it received during the meltdown, and it struggled to stay profitable. So it decided to put itself up for sale.

It's now being acquired by Trustmark Corp in Mississippi, which has about $9.9 billion in assets. The acquisition will help Trustmark expand in Florida and Alabama.

"Some of the smaller (banks) are just throwing up the flag," says Cornelius Hurley, a former counsel to the Federal Reserve Board who heads Boston University's Center for Finance, Law and Policy.

Source: http://news.yahoo.com/fewer-us-banks-failing-industry-strengthens-135411347--finance.html

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Toyota agrees to $1 billion settlement

Toyota Motor Corp has offered to settle its?acceleration case with a payment of more than?$1 billion.

By Reuters / December 26, 2012

Toyota Motor Corp President Akio Toyoda speaks during a news conference in Tokyo December 25, 2012. The company offered to settle its acceleration case for more than $1 billion.

Yuriko Nakao/Reuters

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Toyota Motor Corp has agreed to pay more than $1 billion to settle U.S. litigation over claims that its vehicles suddenly and unintentionally accelerated, according to court filings made public on Wednesday.

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The deal, which must be approved by a California federal judge, includes direct payments to customers as well as the installation of a brake override system in about 3.25 million vehicles, plaintiff attorneys said.

The terms include a $250 million fund for former Toyota owners who sold vehicles at reduced prices because of bad publicity, and a separate $250 million fund for owners not eligible for the brake override system.

Plaintiff attorneys are slated to receive up to $200 million in fees and $27 million in costs, according to court documents.

Source: http://rss.csmonitor.com/~r/feeds/csm/~3/3vxDQSOYvoA/Toyota-agrees-to-1-billion-settlement

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