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Source: http://video.msnbc.msn.com/nightly-news/49965386/
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Wednesday, November 28, 2012
Friday, November 23, 2012
Rupert Murdoch sheds some News Corp shares
Some of the very same Republicans who have spent the last two weeks bashing Mitt Romney were, indeed, sucking up to him at a massive rally the Friday before the election ? even angling for jobs in the Romney administration ? a Romney adviser complains. At a rally with 100 Romney surrogates in West Chester, Ohio, Romney aide Dan Senor revealed on?MSNBC Wednesday, the Romney bashers were Romney fawners. "I?m backstage with some of them, I won?t mention their names, but they?re talking about Romney like he?s Reagan," Senor said. ...
Source: http://news.yahoo.com/rupert-murdoch-sheds-news-corp-shares-233259434--finance.html
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Thursday, November 22, 2012
Deere 4Q net income misses analyst expectations
MINNEAPOLIS (AP) ? Farm and construction gear maker Deere & Co. reported a bigger fourth-quarter profit as it sold more equipment at higher prices, but results still missed analyst expectations.
Deere said its net income rose 2.7 percent to $687.6 million, or $1.75 per share for the quarter ended Oct. 31. Revenue rose 14 percent to $9.79 billion. Analysts surveyed by FactSet had been expecting earnings of $1.88 per share. A year ago, Deere's net income was $669.6 million, or $1.62 per share.
Deere revenue got a boost from a 4 percent increase in prices, although some of that gain was offset by unfavorable foreign currency exchange that hurt sales by 3 percent.
Equipment sales rose to $9.05 billion, topping analyst forecasts of $8.93 billion. Sales were strong in the U.S. and Canada, rising 26 percent for the quarter. Elsewhere, sales fell 2 percent. Sales of agriculture and turf equipment rose 16 percent, while construction and forestry equipment sales rose 7 percent.
Deere predicted that equipment sales would rise about 5 percent for the fiscal year that began this month, and would increase 10 percent in the first quarter. It expects full-year 2013 net income of about $3.2 billion. That's a little more than analysts are expecting.
Deere is in a good position to carry out its growth plans, but "present global economic and fiscal concerns warrant continued caution," Chairman and CEO Samuel R. Allen said.
Moline, Ill.-based Deere is the world's largest maker of agricultural equipment. It also makes construction and forestry equipment, including backhoes, excavators, riding mowers and leaf blowers. Since it touches so many important manufacturing markets, it has a unique look into the state of the economy, in the U.S. and abroad.
Deere expects worldwide sales of agriculture and turf equipment to rise 4 percent in the upcoming year, boosted by high crop prices. However, sales are expected to be flat in the U.S. as livestock and dairy farmers remain cautious. It expects full-year sales in Europe to be flat to down 5 percent. It predicted 10 percent growth in South America. Deere expects worldwide growth of 8 percent for construction equipment, "due in part to modest improvement in U.S. economic conditions."
Deere shares fell $2.24, or 2.6 percent, to $83.75 in premarket trading.
For the full fiscal year, Deere earned $3.07 billion, or $7.63 per share, up from $2.8 billion, or $6.63 per share, during the prior year. Revenue rose 13 percent to $36.16 billion for the year.
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Tuesday, November 20, 2012
Sports Kirui wins Kass Marathon
Wannabe boxer Flintoff rules out return to cricket
Former England Test captain and an aspiring boxer Andrew Flintoff has ruled a return to cricket after regaining full fitness and getting back into shape. Flintoff ended his career in 2010 after a ...
FC Barcelona to change shirt sponsor for 201314 season
FC Barcelona and Qatar Sports announced an agreement that Qatar Airways will be promoted on the FC Barcelona team shirts for the 201314 season. The agreement, signed Friday, is part of the contract ...
Shanghai womens volleyball coach fired
A male coach of the Shanghai women's volleyball team has been fired for sexual harassment, the city's sports authorities said. The Shanghai Administration of Sports launched an investigation after ...
Exercise could help ward off bone disease in teens
Teenagers have been urged to play sports or run for at least three hours a week to counteract the potential damage to their bone health caused by prolonged spells of sitting. An international team, ...
Canceled TV Are fan voices heard
had potential, IMO. 9.2 million on Thursdays at 8/7c (a crazy, over-loaded time slot) is respectable, and ABC really hasn?t done much better than that in that time slot for a long time. In a ...
Music on TV Whats THAT song
The Music City singer-songwriter?s aching tune of self-doubt hit the mark at the end of Tuesday?s fourth-wall-breaking, reality TV-themed episode that exposed many of its characters in ...
From Model to Editor
The fashion editor was born Pamela Rosalind Grace Coddington 71 years ago in Anglesey, on an island off the northern coast of Wales. The younger and taller of two sisters, she was raised during ...
FASHION IHT Luxury Conference - Rome 2012
Suzy Menkes speaks with the designer Duro Olowu and Omoyemi Akerele, the creative and managing director of Style House, about the luxury market in ...
Lifestyle Are you showing early signs of pregnancy
Updated 31 mins ago So it?s weeks since you were last with your spouse and are eager to know whether you are pregnant. At this stage, a urine home pregnancy test will not be effective. ...
Lifestyle Why gay men are girls best friends
Updated 38 mins ago I was told that a girl?s best friend is not diamonds, but a gay man. You can hang out without the pressure of being hit on, and he will take you home if you?re ...
Round up compulsory voting
democracy does appear to be decreasing: Compulsory voting will lead to devolution and increase local accountability. As the cost of staging elections continues to increase, there will come a point ...
Expert round up the governments housing strategy one year on
Many of the initiatives [in the housing strategy] were positive - funding to bring empty homes into use, freeing up public sector land - but it seems that the impact of welfare reforms on these ...
Source: http://www.tajikistannews.net/index.php/sid/210813664/scat/hfu8sjsy4hjfjdha
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Monday, November 19, 2012
paul collings replied to Alan Lake's discussion 'UK: SAS war hero jailed for 18 months for booking error' in the group Military Victims
The court was told that he returned to Britain in a hurry after two friends were killed in Iraq, leaving his equipment ? including the pistol ? to be packed up by colleagues.
It accepted evidence from expert witnesses that he suffered severe memory loss due to a brain injury.
Judge Advocate Alistair McGrigor, presiding over the court martial, could have spared the soldier prison by passing a suspended sentence. Instead he handed down the custodial term.
Sgt Nightingale and his family chose to waive the anonymity usually given to members of the special forces.
His wife, Sally, said her husband?s sentence was a ?disgrace?. She called him a ?hero who had been betrayed?. She said she and the couple?s two daughters, aged two and five, faced losing their home after his Army pay was stopped.
The soldier?s former commanding officer and politicians have called for the sentence to be overturned.
Lt Col Richard Williams, who won a Military Cross in Afghanistan in 2001 and was Sgt Nightingale?s commanding officer in Iraq, said the sentence ?clearly needed to be overturned immediately?.
He said: ?His military career has been ruined and his wife and children face being evicted from their home ? this is a total betrayal of a man who dedicated his life to the service of his country.?
Patrick Mercer, the Conservative MP for Newark and a former infantry officer, said he planned to take up the case with the Defence Secretary. Simon McKay, Sgt Nightingale?s lawyer, said: ?On Remembrance Sunday, when the nation remembers its war heroes, my client ? one of their number ? is in a prison cell.
"I consider the sentence to be excessive and the basis of the guilty plea unsafe. It is a gross miscarriage of justice and grounds of appeal are already being prepared.?
In 2007, Sgt Nightingale was serving in Iraq as a member of Task Force Black, a covert counter-terrorist unit that conducted operations under orders to capture and kill members of al-Qaeda.
He also helped train members of a secret counter-terrorist force called the Apostles. At the end of the training he was presented with the Glock, which he planned to donate to his regiment as a war trophy.
But in November 2007, two of Sgt Nightingale?s closest friends, Sgt John
Battersby and Cpl Lee Fitzsimmons, were killed in a helicopter crash. He accompanied both bodies back to Britain and helped arrange the funerals.
In Iraq, his equipment was packed by colleagues, one of whom placed the pistol inside a container that was sent first to the SAS regimental headquarters in Hereford, then to his home where it remained unopened until 2010.
In 2009, Sgt Nightingale, now a member of the SAS selection staff, took part in a 200-mile fund-raising trek in Brazil. He collapsed after 30 miles and fell into a coma for three days.
He recovered but his memory was severely damaged, according to two expert witnesses, including Prof Michael Kopleman of King?s College, London, an authority on memory loss.
In May, 2010, Sgt Nightingale was living in a house with another soldier close to the regiment?s headquarters when he was posted to Afghanistan at short notice.
During the tour, his housemate?s estranged wife claimed her husband had assaulted her and kept a stash of ammunition in the house. West Mercia Police raided the house and found the Glock, still in its container.
Sgt Nightingale?s court martial did not dispute that the pistol had been a gift. It accepted statements from expert witnesses, including Dr Susan Young, a forensic psychologist also from King?s College, London. She said that he probably had no recollection that he had the gun.
The court also accepted that Sgt Nightingale had suffered severe memory loss. But the judge did not believe that he had no recollection of being in possession of the weapon.
Source: http://4freedoms.ning.com/xn/detail/3766518%3AComment%3A114701?xg_source=activity
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Thursday, November 15, 2012
EFT Trainingsseminar - study Emotional Freedom Techniques in a ...
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The IDPLR Program Is What Will Be Looking At ... - A Home Business
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Bear in mind that you are seeing a more or less bird?s eye view, and so it may be premature to be quick to dismiss something if there is something you do not seem to like. Only those who are totally serious about really reaching the pinnacle of success with their online business will do this. Here is the bottom line, if click here can be used in your business, then why would you ever not be willing to include it in your campaigns? All businesses have to set their limits concerning how they want to promote themselves, and that fact is not lost on us. If you are really new, then you have to know the importance of performing background research on any method that you are not familiar with. Actually, one very smart move for newbies is to buy slow and do a lot of reading and asking questions, if possible, about whatever it is. The thing about this is it is totally understandable for beginners to IM to have this kind of unfortunate luck. We really pretty much do not care who it is, if something is new to you then you have to preform some research to get another side of the story. That is a habit worth developing because at some point along the line it will serve you very well. You are going to find that the software?s which are made available to you?re going to have the capability of helping you in your web based business venture. One of the products you?ll be receiving in this huge package is the membership site cash magic program, and this is the same program I used to manage my membership sites. Even if you are not looking to run a membership website of your own, you will find many other software systems and E-books that will be very useful for you. I should point out that while every person who purchases this program should be much more than satisfied, you may be happy to realize that there?s a money back guarantee that comes with this package. At this stage many of you are probably wondering exactly how much they are selling all this for, and you will see that for $47.00 you are able to get your hands on every one of these products. This is truly a fantastic price when you think about the point that just one product that has private label rights could end up costing you far more than this. Of course this package isn?t only going to be offering you one product but you are going to be receiving access to over 5000 products which you are going to be able to resell.
Source: http://www.easy-home-business.com/blog/the-idplr-program-is-what-will-be-looking-at-in-this-article/
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Digi Traffic Generator Review Does This Seo Software Really ...
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Indexes fall in uneven trading; Home Depot soars
U.S. stocks drifted lower in uneven trading Tuesday as fears about the "fiscal cliff" and Greece tipped major indexes between gains and losses. A surge in Home Depot's stock prevented a much-steeper drop for the Dow Jones industrial average.
The Dow was down six points at 12,808 as of 3:15 p.m. Eastern time. It would have been far lower without support from Home Depot, whose stock jumped 4 percent after the big-box retailer beat expectations for its fiscal third-quarter earnings. Home Depot is benefiting from the gradual housing recovery and rebuilding efforts after Superstorm Sandy. Home Depot rose $2.37 to $63.53.
Stocks had opened lower after European leaders postponed the latest aid package for Greece. The Dow turned positive in the first hour of trading and rose solidly through the morning, gaining as much as 83 points.
By late afternoon, the index was nearly flat. The Standard & Poor's 500 index fell a fraction to 1,370. The Nasdaq composite index lost 10 points to $2,894.
Investors are trading against the backdrop of the "fiscal cliff," a set of U.S. government spending cuts and tax increases that will take effect automatically at the beginning of next year unless U.S. leaders reach a compromise before then.
Worries about the fiscal cliff pushed U.S. stocks to one of their worst weekly losses of the year last week after voters re-elected President Barack Obama and a deeply divided Congress. Obama was set to meet Tuesday with labor leaders and others who advocate higher taxes on the wealthy and want to protect health benefits for seniors and other government programs. Obama will meet with business leaders Wednesday.
"The longer we sit and do nothing" about the nation's fiscal issues, "the more this market is going to oscillate between positive 40 and negative 60, until we know what's going to happen next with all this uncertainty," said Craig Johnson, senior technical research strategist with Piper Jaffray & Co. in Minneapolis.
Johnson expects the S&P 500 will reach 1,550 in the next six months as investors get over their lingering wooziness from the 2009 bear market and companies get a clearer sense of how government policy on taxes, health care and spending will affect them.
European stock markets had been lower but rose after trading opened in New York. Benchmark indexes in France, Britain and Germany closed modestly higher.
Traders there are concerned because finance ministers postponed $40 billion in desperately needed aid for Greece. The news surprised investors. A day earlier, there was word that leaders had prepared a "positive" report on Greece, making it appear likely that the aid would be released.
"It's a little bit like Groundhog Day," said Nicholas Colas, chief market strategist at ConvergEx Group, referring to the classic Bill Murray movie whose protagonist must relive the same day over and over. Until there is decisive news from Washington or Brussels, neither of which appear imminent, markets will remain vulnerable to headlines that mean little in the long run, Colas said.
The next major catalysts for a market move, Colas said, will be gauges of spending by consumers on Black Friday, the traditional shopping rush on the day after Thanksgiving.
Greece's neighbors decided to give the country two more years to meet its economic targets. They still disagree with the International Monetary Fund, another key lender, over how to manage the country's debt over the long term. Until lenders reach an accord, they can't release the billions that Greece needs to make upcoming payments.
IMF managing director Christine Lagarde said Greece should reduce its debt burden down to 120 percent of its economic output by 2020, the original target of 2020. But Jean-Claude Juncker, leader of the euro zone's finance ministers, said that the deadline would likely be changed to 2022. The lenders will meet again on Nov. 20.
The yield on the 10-year Treasury note slid to 1.59 percent from 1.64 percent late Friday as demand increased for ultra-safe investments. The U.S. bond market was closed on Monday in observance of the Veterans Day holiday.
Among stocks making big moves:
Microsoft plunged 4 percent after it announced the departure of Steven Sinofsky, who ran its Windows division. The unexpected move comes just weeks after Microsoft launched Windows 8, its first major overhaul in years of the operating system used on most of the world's computers. Microsoft fell $1.08 to $27.14.
Weatherford International dropped 17 percent a day after the oilfield services company reported disappointing third-quarter revenue and said it had uncovered "material weakness in internal controls over financial reporting related to the accounting for a percentage of completion contract in Iraq." Weatherford took write-downs in the first and second quarters because of them. Its stock fell $1.81 to $9.07.
Apparel chain operator TJX Cos., the parent of TJ Maxx and Marshalls, rose 3 percent after raising its full-year earnings forecast and reporting third-quarter revenue that exceeded analysts' expectations. The stock added $1.13 to $42.09.
___
Daniel Wagner can be reached at www.twitter.com/wagnerreports .
Source: http://news.yahoo.com/indexes-fall-uneven-trading-home-depot-soars-203306490--finance.html
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Friday, November 9, 2012
Tips On How To Find A Bankruptcy Lawyer | Siben & Siben Long ...
TIP! Carefully pick the lawyer you will use when filing for bankruptcy. This kind of law is popular among inexperienced lawyers.
When debt begins to pile up, even the most responsible among us can panic and quickly lose control of the situation. Things can quickly add up and before you know it, the situation is completely out of control. Getting out of debt is not easy, especially if you do not have a steady job. This article can help you learn what to do when filing for bankruptcy when too much debt is hanging over your head.
TIP! Speak with an attorney about any fears you have about losing your car. You may even be able to get your monthly payment reduced.
Quickly decide to start being more fiscally responsible prior to filing. The period before your filing is not the time to run up additional debts. In the course of a personal bankruptcy filing, your creditors and the court will examine your credit history right up to the filing date. Your most recent behavior should show that you realize the error of your ways and have changed course to become more fiscally responsible.
TIP! Decide right up front that you are not going to feel embarrassed or ashamed about needing to file bankruptcy. Going through the filing process often brings out the worst in people, causing them to feel a variety of negative emotions.
Once the initial filing period is over, ensure that you are getting out and enjoying life. A lot of debtors usually get stressed when they file. Make sure you take care of your part and let your attorney do the rest. Bankruptcy is hard to go through, but you must remember that a less stressful, more enjoyable life is waiting on the other side of it.
TIP! Regardless of how dire your situation may be, candor is critical. It would be a very big mistake to be dishonest in regard to your assets and debts.
A few months after bankruptcy is complete, get your credit report copies from the 3 credit reporting agencies. Errors occur, so make sure things appear exactly as they should. Resolve any problems immediately so you can build up your credit score as quickly as possible.
TIP! Before filing for bankruptcy, look into which debts it will clear in your situation. Debts like student loans may stay in your financial history regardless.
Think about finding an additional job. As long as you have money coming in and use it to pay down your debts, you will likely be able to work with your creditors and make your own repayment arrangements. They ought to work with you and then you won?t even need to file.
TIP! When people owe more than what can pay, they have the option of filing for bankruptcy. When you are faced with this issue, begin to familiarize yourself with your state?s laws.
Do not rely too heavily on your lawyer. They know about the current bankruptcy laws, but you need to become well-informed too. You may think about your lawyer taking care of everything, but it?s important to keep in mind that it?s your life at stake financially.
TIP! If you are seriously thinking of filing bankruptcy, make sure that you contact an attorney. Filing for bankruptcy is complicated and there is no way you can understand all you need to know.
You may end up losing more than you bargained for when you file a bankruptcy claim, so be sure that you know just which assets may be taken before filing. The federal statutes covering bankruptcy can tell you exactly which assets are exempt from forfeiture to pay off creditors. You need to compare this list to the assets you own so that you are not surprised when certain assets are seized. You wouldn?t want to unexpectedly lose any possessions you treasure.
TIP! Be sure that you include all debts you want discharged in your bankruptcy filing. If you do not document certain debts, they aren?t going to be on the discharge.
Do some research about laws and legislation before filing. This area of law is in constant flux and it is imperative that you know where the law stands at the time you file for your bankruptcy. Your state?s legislative offices or website will have up-to-date information about these changes.
TIP! You should not be ashamed that you?re filing for bankruptcy. Many people will get depressed and think they?ve failed when they need to file.
If you are truly faced with bankruptcy, avoid blowing your savings or retirement money, trying to pay off debts. Avoid touching your retirement accounts whenever possible. You may need to tap your savings, but don?t empty your savings account, as this could leave you in a difficult situation down the road.
TIP! Before filing for bankruptcy, you must be educated on the specifics of all bankruptcy laws. For example, it is forbidden for an individual to transfer any assets away from the name of the filer within the twelve months preceding filing.
Some things in life are inevitable. Use what you learned from this article to regain control of your financial situation. Integrate the tips here into your financial plans and work to make a positive change in your situation.
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Tea Party still has clout despite election setbacks
WASHINGTON (Reuters) - Tea Party candidates may have spoiled Republican chances of taking control of the U.S. Senate, but the small-government movement will continue to hold sway in Washington for at least the next few years on fiscal - if not social - issues, experts said on Wednesday.
If not for the poor performance of some Tea Party-backed Senate candidates in both the 2012 and 2010 elections, Republicans could have been in the majority in the chamber. Instead, much to Republicans' dismay, Democrats have actually become stronger.
The ground is strewn with the bodies of failed Tea Party candidates in states where Democrats otherwise would have been sent to their own political graves: Todd Akin in Missouri and Richard Mourdock in Indiana in 2012; Sharron Angle in Nevada and Christine O'Donnell in Delaware in 2010, to name a few.
Meanwhile, in the House of Representatives, the head of the Tea Party Caucus - Michelle Bachmann - appears to have just barely dodged defeat on Tuesday, while colleagues including Allen West and Joe Walsh were not as fortunate.
"The Tea Party is over," crowed the Democratic Congressional Campaign Committee.
That conclusion could be premature, as Republicans are showing every sign of hanging tough in their drive to keep taxes low, including for the wealthy, and to limit government spending - central philosophies they share with the Tea Party movement.
The top U.S. Republican, House Speaker John Boehner, said as much on Tuesday night, when he proclaimed that Obama had no mandate to raise taxes on the rich, even though the president had scored a solid re-election victory and Democrats increased their membership in the Senate.
Boehner put Democrats on notice after Republicans, who won the House in 2010 thanks to big Tea Party victories, retained power in the chamber.
And so when it comes to budget and tax issues, Republican leaders in Congress may have to continue answering Tea Party demands.
"Boehner still needs to keep his back to the wall on these folks," said Stephen Hess, a senior fellow at the Brookings Institution who follows Congress.
Ron Bonjean, a former top aide to House and Senate Republican leaders, added, "If you're Speaker, you are going to take the hardest line possible that reflects the Republican conference. And it's unlikely you budge from that position unless President Obama comes your way with concessions."
Hess also noted that Senate Republican leader Mitch McConnell, who faces re-election in 2014, must be on the watch for primary-season challenges from the Tea Party, along with Senator Lindsey Graham. The same goes for Senators Saxby Chambliss and Lamar Alexander, according to other political analysts.
And so, Hess said, Republicans like McConnell and Graham still have to court the Tea Party, much like Senator Orrin Hatch successfully did the past two years. Conversely, Senator Richard Lugar - soon to be former Senator Richard Lugar - found that ignoring Tea Party forces can be perilous.
A House Republican aide predicted that Boehner's warning against letting income taxes rise on the rich was not just an opening line in upcoming "fiscal cliff" negotiations with Democrats. "It's his bottom line," the aide added.
While Boehner easily won re-election on Tuesday night to his House seat, he still has to run in January for re-election as Speaker. And so he might want to limit the number of tough votes he forces fellow Republicans to cast on taxes and spending before that leadership election.
Next week, however, Republicans will elect other mid-level party leaders, which could demonstrate the reach of the Tea Party.
Tea Party activist Tom Price is vying against Cathy McMorris Rodgers, a Boehner protege who at times has been more of a centrist than Price.
TEA PARTY OBITUARY?
For all the attention Tea Party activists got last year, when they nearly brought the federal government to a grinding halt during a struggle with Democrats over the budget deficit and federal debt, and for all the muscle-flexing they continue to do, Hess said the loosely knit group's years are numbered.
As the U.S. economy grows healthier, Hess said that this political movement - born out of panic and anger over the deepest recession since the Great Depression - will become increasingly more irrelevant.
He envisioned an Internet obituary for the Tea Party that would read something like this: "A group of people who had an impact on the Republican Party in an organized sense between 2010 and 2016."
But for the time being, the Tea Party, despite its foibles, has played and continues to play a constructive role for Republicans, Bonjean said.
"The Tea Party has pulled Washington as a whole to their (Republican) side of the field by demanding more fiscal responsibility. They forced the president to the table on budget negotiations," Bonjean said.
Social issues are another matter, though, with Republicans apparently gaining little advantage when the Tea Party wades into abortion, immigration or other hot-button matters.
Akin's Senate bid sunk after he talked about "legitimate rape" this summer, while Mourdock faded when he said that pregnancy after rape could be "something that God intended."
So if Democrats, as expected, begin pushing social issues next year, such as comprehensive immigration reform, analysts say that Republican leadership scrapes with the Tea Party could be on public view, especially as the party tries to figure out a way to begin appealing to a growing Hispanic population.
(Additional reporting by Nick Carey in Chicago. Editing by Fred Barbash and Philip Barbara)
Source: http://news.yahoo.com/tea-party-still-clout-despite-election-setbacks-060102471.html
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Fiscal cliff: Impasse on tax rates is big hurdle
Graphic shows the federal budget deficit
Graphic shows the federal budget deficit
WASHINGTON (AP) ? House Republicans' hard line against higher tax rates for upper-income earners leaves re-elected President Barack Obama with a tough, core decision: Does he pick a fight and risk falling off a "fiscal cliff" or does he rush to compromise and risk alienating liberal Democrats?
Or is there another way that will allow both sides to claim victory?
Obama has been silent since his victory speech early Wednesday morning, but is set to weigh in Friday in remarks at the White House.
Capitol Hill Republicans, meanwhile, vow to stand resolutely against any effort by the president to fulfill a campaign promise to raise the top two income tax rates to Clinton-era levels. A battle would set the tone for the start of the president's second term.
"A 'balanced' approach isn't balanced if it means higher tax rates on the small businesses that are key to getting our economy moving again," House Speaker John Boehner, R-Ohio, said on Wednesday. "Raising tax rates is unacceptable," he declared Thursday on ABC. "Frankly, it couldn't even pass the House. I'm not sure it could pass the Senate."
A lot is at stake. A new Congressional Budget Office report on Thursday predicted that the economy would fall into recession if there is a protracted impasse in Washington and the government falls off the fiscal cliff for the entire year. Though most Capitol-watchers think that long deadlock is unlikely, the analysts say such a scenario would cause a spike in the jobless rate to 9.1 percent by next fall.
The analysis says that the cliff ? a combination of automatic tax increases and spending cuts ? would cut the deficit by $503 billion through next September, but that the fiscal austerity also would cause the economy to shrink by 0.5 percent next year and cost millions of jobs.
The new study estimates that the nation's gross domestic product would grow by 2.2 percent next year if all Bush-era tax rates were extended and would expand by almost 3 percent if Obama's 2 percentage point payroll tax cut and current jobless benefits for the long-term unemployed were extended as well.
All sides say they want a deal ? and that now that the election is over everyone can show more flexibility than in the heat of the campaign.
Obama will address the issue Friday though he's not expected to immediately offer specifics. His long-held position ? repeatedly rejected by Republicans ? is that tax rates on family income over $250,000 should jump back up to Clinton-era levels. Republicans say they're willing to consider new tax revenue but only through drafting a new tax code that lowers rates and eliminates some deductions and wasteful tax breaks. And they're insisting on cuts to Medicare, Medicaid and food stamps, known as entitlement programs in Washington-speak.
The White House's "opening position is, 'We're willing to do big entitlement cuts. In return we need you to go up on the rate,'" said Democratic lobbyist Steve Elmendorf. "Then they're going to get into a discussion. It'll be a process."
The current assumption is that any agreement would be a multi-step process that would begin this year with a down payment on the deficit and on action to stave off more than the tax increases and $109 billion in across-the-board cuts to the Pentagon budget and a variety of domestic programs next year.
The initial round is likely to set binding targets on revenue levels and spending cuts, but the details would probably be enacted next year.
"What we can do is avert the cliff in a manner that serves as a down payment on ? and a catalyst for ? major solutions, enacted in 2013, that begin to solve the problem," Boehner said.
While some of that heavy work would be left for next year, a raft of tough decisions would have to be made in the next six weeks. They could include the overall amount of deficit savings and achieving agreement on how much would come from revenue increases and how much would be cut from costly health care programs, the Pentagon and the day-to-day operating budgets of domestic Cabinet agencies.
Democrats are sure to press for a guarantee that tax reform doesn't end up hurting middle-income taxpayers at the expense of upper-bracket earners. Republicans want to press for corporate tax reform and a guarantee that the top rate paid by individuals and small businesses goes down along the way.
While some Democratic partisans want Obama to play tough on taxes and use his leverage to force Republicans to accept higher rates on the wealthy, Republicans warn that such hardball would poison the well even before Obama takes the oath of office and imperil prospects for second-term Obama initiatives including immigration reform.
Another idea is to raise revenue from the wealthy but not through higher income tax rates. Instead, policymakers could cap the amount of itemized deductions that the wealthy might be able to claim, an idea that's in Obama's budget and was a suggestion of Mitt Romney in the campaign.
"There is more than one way to bell the cat. So why are people so fixed on the 39.6 (percent rate)? It's because of the progressivity of the code," said Sen. Kent Conrad, D-N.D., on CNBC on Thursday. "You can accomplish that same progressivity with lower rates if you broaden the (tax) base in a way that's progressive."
Other items on the agenda for the lame duck session include a multi-year farm bill, legislation to reform the Postal Service, and a renewal of Medicare payment rates for doctors.
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Thursday, November 8, 2012
A detailed profile of Ferrari F1 driver Fernando Alonso ? Formula 1 ...
A detailed profile of Ferrari F1 driver Fernando Alonso ? Formula 1
Fernando Alonso is a Spanish Formula 1 driver who currently races for the Ferrari team. He is the holder of two world F1 championships.
The driver started his racing career at a very young age of 3. He competed in many Kart races and was strongly supported by his father who also helped him by becoming his mechanic despite the fact that the family was not financially stable enough to carry on a racing career. He won the world Karting championship in 1996. He made his debut in Formula 1 world when he joined the Minardi team in 2001.
In 2002, he continued to race but transferred to Renault and worked with them for the next four years. In 2005, he won his first ever F1 championship after winning? seven Grands Prix that season and battling with Kimi Raikkonen who was driving a quicker McLaren at that time. He was only 24 years old and was the youngest champion of that time. He won the title next year again by remaining dominant in the first half of the season while he fought a tough battle with Michael Schumacher.
In 2007, Alonso joined the McLaren team but he remained under speculation for not being able to get along with teammate Lewis Hamilton so he quit following a mutual decision with the team. He returned with his previous team Renault from 2008 to 2009. He then joined Ferrari in 2010 and continues to drive for them as he is running second in 2012 F1 drivers? championship giving a tough competition to Red Bull?s Sebastian Vettel. His race points have also helped Ferrari reach second standing in the constructors? championship.
In his eleven year career, he has finished 84 times on the podium while scoring 1331 race points. He has entered 196 Grands Prix in total. ?His career has also been surrounded with various controversies. One of the most famous of them has been dubbed by the media as ?Crashgate? where Renault was allegedly accused of ordering Alonso?s teammate of that time, Nelson Piquet, Jr., for causing a crash so as to deploy a safety car which Alonso might be able to use to his advantage.
Despite all the odds, Alonso has been able to make a good career and his fan following is known as the Alonso mania. He has also been given the nickname of El Nano which is pseudonym for his actual name Fernando in place of his birth, Asturias. He is also working as the good will ambassador of UNICEF. When he won his first championship in 2005, he started a programme where the study of Motorsport of Business for Social Science was introduced. The programme is helping to finance twelve students from all over the world.
Besides having a determined passion for driving Formula 1 cars, he is also interested in other sports that include tennis, cycling and football. He has also demonstrated his skills at showing card tricks which he usually reveals during the race weekends. He is avid listener of music and also run his own Business Alonso-kart which sells various kinds of Karting parts.
The current season has turned out to be a good one for the driver as he remained dominant for most of the season but lost his lead after Vettel won the Korean Grand Prix. His team is working hard so as to provide him the best car to catch up to Vettel since only two more races remain before the new champion is announced.
Source: http://blogs.bettor.com/A-detailed-profile-of-Ferrari-F1-driver-Fernando-Alonso-Formula-1-a199782
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South Korea widens nuclear lapses probe; KEPCO chief resigns
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