Tuesday, January 31, 2012

John Rich, director of TV comedies, dies at 86 (AP)

LOS ANGELES ? Television director John Rich, who won an Emmy Award for the memorable "All in the Family" scene showing Sammy Davis Jr. planting a kiss on Archie Bunker, has died in Los Angeles at 86.

Rich also won an Emmy for "The Dick Van Dyke Show."

Directors Guild of America spokeswoman Sahar Moridani tells the Los Angeles Times ( http://lat.ms/yg21r5) that Rich died Sunday morning at his Los Angeles home after a brief illness. There are no other details.

His 50-year Hollywood career included "I Married Joan," "Our Miss Brooks," "Gunsmoke" and "Bonanza." He also directed episodes or pilots of "The Twilight Zone," "Gomer Pyle, U.S.M.C.," "Gilligan's Island," "The Brady Bunch," "Maude," "Good Times," "The Jeffersons," "Barney Miller" and "Newhart."

Source: http://us.rd.yahoo.com/dailynews/rss/entertainment/*http%3A//news.yahoo.com/s/ap/20120130/ap_en_ot/us_obit_john_rich

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Monday, January 30, 2012

Quest for the golden cross (Reuters)

NEW YORK (Reuters) ? January has turned out to be strong for stocks with just two trading days to go. If you're afraid to miss the ride, there's still time to jump in. You just might want to wear a neck brace.

The new year lured buyers into growth-related sectors, the ones that were more beaten down last year. The economy is getting better, but not dramatically. Earnings are beating expectations, but at a lower rate than in recent quarters. Nothing too bad is coming out of Europe's debt crisis -- and nothing good, either -- at least not yet.

"No one item is a major positive, but collectively, it's been enough to tilt it towards net buying," said John Schlitz, chief market technician at Instinet in New York.

Still, relatively weak volume and a six-month high hit last week make some doubt that the gains are sustainable.

But then there's the golden cross.

Many market skeptics take notice when this technical indicator, a holy grail of sorts for many technicians, shows up on the horizon.

As early as Monday, the rising 50-day moving average of the S&P 500 could tick above its rising 200-day moving average. This occurrence -- known as a golden cross -- means the medium-term momentum is increasingly bullish. You have a good chance of making money in the next six months if you put it to work in large-cap stocks.

In the last 50 years, according to data compiled by Birinyi Associates, a golden cross on the S&P 500 has augured further gains six months ahead in eight out of 10 times. The average gain has been 6.6 percent.

That means the benchmark is on solid footing to not only hold onto the 14 percent advance over the last nine weeks, but to flirt with 1,400, a level it has not hit since mid-2008.

The gains, as expected, would not be in a straight line. But any weakness could be used by long-term investors as buying opportunities.

"The cross is an intermediate bullish event," Schlitz said. "You have to interpret it as constructive, but I caution people to take a bullish stance, if they have a short-term horizon."

GREECE, U.S. PAYROLLS AND MOMENTUM

Less than halfway into the earnings season and with Greek debt talks over the weekend, payrolls data this week and the S&P 500 near its highest since July, there is plenty of room for something to go wrong. If that happens, the market could easily give back some of its recent advance.

But the benchmark's recent rally and momentum shift allow for a pullback before the technical picture deteriorates.

"We bounced off 1,325, which is resistance. We're testing 1,310, which should be support. We are stuck in that range," said Ken Polcari, managing director at ICAP Equities in New York.

"If over the weekend, Greece comes out with another big nothing, then you will see further weakness (this) week," he said. "A 1 (percent) or 2 percent pullback isn't out of the question or out of line."

On Friday, the S&P 500 (.INX) and the Nasdaq Composite (.IXIC) closed their fourth consecutive week of gains, while the Dow Jones industrial average (.DJI) dipped and capped three weeks of gains. For the day, the Dow dropped 74.17 points, or 0.58 percent, to close at 12,660.46. The S&P 500 fell 2.10 points, or 0.16 percent, to 1,316.33. But the Nasdaq gained 11.27 points, or 0.40 percent, to end at 2,816.55.

For the week, the Dow slipped 0.47 percent, while the S&P 500 inched up 0.07 percent and the Nasdaq jumped 1.07 percent.

A DATA-PACKED EARNINGS WEEK

This week is filled with heavy-hitting data on the housing, manufacturing and employment sectors.

Personal income and consumption on Monday will be followed by the S&P/Case-Shiller home prices index, consumer confidence and the Chicago PMI -- all on Tuesday.

Wednesday will bring the Institute for Supply Management index on U.S. manufacturing and the first of three key readings on the labor market -- namely, the ADP private-sector employment report. Jobless claims on Thursday will give way on Friday to the U.S. government's non-farm payrolls report. The forecast calls for a net gain of 150,000 jobs in January, according to economists polled by Reuters.

On the earnings front, it will be another hectic week with almost a fifth of the S&P 500 components posting quarterly results. Exxon Mobil (XOM.N), Amazon (AMZN.O), UPS (UPS.N), Pfizer (PFE.N), Kellogg (K.N) and MasterCard (MA.N) are among the names most likely to grab the headlines.

With almost 200 companies' reports in so far, about 59 percent have beaten earnings expectations -- down from about 70 percent in recent quarters.

(Reporting by Rodrigo Campos; Additional reporting by Chuck Mikolajczak and Caroline Valetkevitch; Editing by Jan Paschal)

Source: http://us.rd.yahoo.com/dailynews/rss/stocks/*http%3A//news.yahoo.com/s/nm/20120129/bs_nm/us_usa_stocks_weekahead

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Baby On The Way For 'Big Bang Theory's' Simon Helberg (omg!)

Simon Helberg and Jocelyn Towne arrive at the 63rd Annual Primetime Emmy Awards held at Nokia Theatre L.A. LIVE in Los Angeles on September 18, 2011  -- Getty Images

There's a baby on the way for "The Big Big Bang Theory" star Simon Helberg!

The actor -- who plays turtleneck-loving Howard Wolowitz on the CBS show -- and wife Jocelyn Towne are expecting their first child, a rep for the couple told People.

PLAY IT NOW: 2011 Emmy Awards Red Carpet: Simon Helberg & Kunal Nayyar Dish On ?The Big Bang Theory?

The baby is due this spring.

Simon, 31, and Jocelyn, an actress, met in Los Angeles and married in July 2007.

VIEW THE PHOTOS: Wimps To Pimps

In addition to the baby news, Simon may earn yet another reason to celebrate this weekend - "The Big Bang Theory" is nominated for Best Ensemble in a TV Comedy at the 18th Annual SAG Awards.

"Big Bang" will face off against "Glee," "Modern Family," and NBC's "30 Rock" and "The Office" for the coveted statue at the SAG Awards, airing on Sunday at 5 PT/8 ET on TNT.

Copyright 2012 by NBC Universal, Inc. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

VIEW THE PHOTOS: Hollywood Dads & Their Adorable Little Ones!

Source: http://us.rd.yahoo.com/dailynews/rss/entertainment/*http%3A//us.rd.yahoo.com/dailynews/external/omg_rss/rss_omg_en/news_baby_way_big_bang_theorys_simon_helberg192459271/44339381/*http%3A//omg.yahoo.com/news/baby-way-big-bang-theorys-simon-helberg-192459271.html

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Sunday, January 29, 2012

Vanishing inflation bolsters case for Fed easing (Reuters)

WASHINGTON (Reuters) ? It has only been a few days since the Federal Reserve adopted a formal goal for inflation, and already policymakers are missing their target.

The U.S. central bank's preferred measure of inflation sank to its lowest level in more than a year in the fourth quarter, data showed on Friday.

Growth in the government's personal consumption expenditure index, which the Fed now targets at 2.0 percent, dropped to a 0.7 percent annual rate, about a third of its pace during the previous three months.

Of course, the Fed aims to hit its target over the longer run and will be willing to look through often volatile food and energy prices.

But even stripping those costs out, the inflation rate fell sharply to 1.1 percent over the past three months, a potentially troubling sign that the trend is not the Fed's friend.

With unemployment still at an elevated 8.5 percent, Friday's data could buttress the case within the central bank for taking new action to boost the economy.

"Clearly, much work remains to achieve the Fed's dual mandate of maximum sustainable employment in the context of price stability," said New York Fed President William Dudley, who has hinted he supports doing more to lower borrowing costs.

"Inflation has retreated and may be headed down further," Dudley told reporters on Friday.

PRIMING THE MONEY PUMP

The Fed's policy-setting committee is divided between officials who want to pump more money into the economy and others known as hawks who worry inflation could get out of hand.

Currently, many investors think the Fed will try to lower borrowing costs further this year through "quantitative easing," which entails purchasing securities on the market in order to bring down interest rates for mortgages and business loans.

Economists at 12 of 18 primary dealers, the large financial institutions that do business directly with the Fed, said the central bank would do further quantitative easing, a Reuters poll showed. The poll was conducted after Federal Reserve Chairman Ben Bernanke's news conference on Wednesday.

If that happens, this would amount to "QE3" or the Fed's third round of quantitative easing since November 2008 when its first QE program was launched about two months after Lehman Brothers collapsed, during the depths of the financial crisis.

The inflation reading "very much supports the idea from the non-hawkish core of the committee that inflation has a downward trajectory right now," said Michael Hanson, an economist at Bank of America Merrill Lynch.

Still, some temporary factors likely pushed inflation numbers lower during the fourth quarter, which could keep officials from rushing into more monetary stimulus.

Prices for durable goods fell at a 2.7 percent annual rate, which analysts attributed to automakers recovering from supply- chain disruptions created by an earthquake in Japan in March.

That suggests while inflation is well below the Fed's target, the economy does not appear poised to slip into deflation, a debilitating spiral of falling prices and wages. Fears of deflation were a major justification for a $600 billion quantitative easing program in late 2010.

"This isn't really deflationary," Paul Ashworth, economist at Capital Economics in Toronto, said of the price data.

Nonetheless, the sharp easing in inflation potentially gives the Fed more room to ramp up efforts to boost employment. The PCE price index will likely rise just 1.4 percent this year, said Jeff Greenberg, an economist at Nomura in New York.

The jobless rate, however, remains several percentage points higher than where most Fed officials would prefer it to be, even though it has fallen in recent months. In December, it stood at 8.5 percent.

With this in mind, both Greenberg and Ashworth expect the Fed will launch a new bond-buying program by mid-year.

One factor that could force policymakers to spring to action more quickly is a possible worsening of Europe's banking crisis, which could drag large U.S. financial institutions into a rut and trigger a new credit crunch.

Argued Hanson of BofA-Merrill: "That's the wild card and that would potentially change the way the Fed reacts."

(Editing by Jan Paschal)

Source: http://us.rd.yahoo.com/dailynews/rss/economy/*http%3A//news.yahoo.com/s/nm/20120127/bs_nm/us_usa_fed_inflation

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Santorum cancels morning events to be with child

(AP) ? Republican presidential hopeful Rick Santorum canceled his Sunday morning campaign events and planned to spend time with his hospitalized daughter.

"Rick and his wife Karen are admitting their daughter Bella to Children's Hospital of Philadelphia this evening," spokesman Hogan Gidley said in a statement Saturday night, adding "Rick intends to return to Florida and resume the campaign schedule as soon as is possible."

Santorum had been scheduled to appear on NBC's "Meet the Press" and attend church in Miami. Officials did not cancel Sunday's afternoon events in Sarasota and Punta Gorda.

Isabella Santorum has Trisomy 18, a genetic condition caused by the presence of all or part of an extra 18th chromosome. When asked about her, Santorum says his daughter was not expected to survive until her first birthday and often has to catch himself to stop from tears.

"I have a little girl who's 3 ? years old," he told Christian conservatives in Iowa before winning that lead-off contest.

"I don't know whether her life is going to be measured ? it's always been measured ? in days and weeks. Yet here I am. ... because I feel like I wouldn't be a good dad if I wasn't out here fighting for a country that would see the dignity in her and every other child."

When voters ask him about her, he calls the decision to campaign "gut-retching" but says he goes forward for all special needs families.

"You think she's fine, and then one cold and she's this close to dying," he told The Washington Post last year in an interview.

In October, he missed one of Bella's surgeries to participate in a debate and told the audience that he planned to take an all-night flight home from Las Vegas to be with her.

"I look at the simplicity and love she emits," Santorum said in a web video his campaign released after his scheduling drew questions, "and it's clear to me we're the disabled ones."

Santorum largely has kept his daughter off the campaign schedules, preferring her to stay home with her mother. But Bella did join Santorum for a few days around Iowa's straw poll in August, and she joined her family in Charleston, S.C., the day of its primary.

She didn't join her six siblings for the public speech. She stayed backstage.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/89ae8247abe8493fae24405546e9a1aa/Article_2012-01-28-Santorum-Daughter/id-1dac6b225d9b40af8efed4d704505567

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Saturday, January 28, 2012

Stocks lowered by mixed economic data

?A brief morning rally pushed the Dow Jones industrial average above its highest closing price since the financial crisis, the Dow closed down 22 points at 12734.?

A brief morning rally pushed the Dow Jones industrial average above its highest closing price since the financial crisis Thursday, but stocks closed lower after mixed economic data tempered traders' optimism.

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Solid news on factory orders and strong earnings from U.S. manufacturers highlighted one of the economy's bright spots before the market opened. The Dow and broader indexes turned negative after weaker reports on home sales and future economic growth were released in the late morning.

The Dow and other indexes are still up sharply for the year, and the Dow is near its highest level since May 2008. Traders appear less afraid of spillover damage from the European debt crisis, and data on jobs and manufacturing have been consistently strong.

"With global risk off center stage and attention going back to the fundamentals, this market was ready to explode, which is exactly what it is doing," said Doug Cote, chief market strategist with ING Investment Management.

The government reported early Thursday orders to factories for long-lasting manufactured goods increased in December for the second straight month, and a key measure of business investment rose solidly.

That strong demand was apparent in quarterly earnings reports from U.S. manufacturers. 3M stock closed 1.3 percent higher after its fourth-quarter profit beat Wall Street's estimates.

Caterpillar, the world's biggest heavy equipment maker, rose 2.1 percent, the most of the 30 companies in the Dow, after beating analysts' estimates last quarter. The company expects to do the same this year as global demand remains high.

Stocks traded broadly higher until mid-morning, when the government reported an unexpected drop in new home sales in December, capping the worst year for home sales on records dating to 1963. The decline underscored the housing market's continued drag on the economy.

A private gauge of future economic activity also grew more slowly than expected.

The Dow closed down 22.33 points, or 0.2 percent, at 12,734.63. It had traded up as much as 84.99 points early Thursday. 3M and Caterpillar led the gains.

AT&T dragged the Dow lower, falling 2.5 percent after its earnings missed Wall Street's forecasts. The company remains heavily dependent on Apple's iPhone, which it pays to subsidize, but recently lost its exclusive rights to sell the phone in the U.S.

The Dow is within reach of its post-financial crisis high of 12,810.54, reached in April 2011. The last time it closed higher than that was on May 20, 2008, when it settled at 12,828.68. The Dow's post-crisis high during the trading day was 12,928.45, reached on May 2, 2011.

The Dow is up 4.2 percent so far this year. The Standard & Poor's 500 index and Nasdaq composite average have gained even more.

The Dow would need to rise another 11 percent to get to its record high close of 14,164.53, reached on Oct. 9, 2007.

The S&P 500 closed down 7.63 points, or 0.6 percent, at 1,318.43. It was dragged lower by volatile financial companies and telecommunications firms including AT&T. The Nasdaq shed 13.03 points, or 0.5 percent, to close at 2,805.28.

Stocks had their highest close in eight months Wednesday after the Federal Reserve said it plans to keep interest rates extremely low until late 2014 to encourage lending and investment and support the economic recovery.

The yield on the 10-year Treasury note fell to 1.93 percent from 1.99 percent late Wednesday. The prospect of more bond-buying by the Fed helped make Treasurys more attractive. A bond's yield falls as demand for it increases.

Among the other U.S. companies making big moves after reporting quarterly earnings:

? Time Warner Cable Inc. rose 7.8 percent after the company reported earnings that were far above analysts' estimates. The national cable TV provider also raised its dividend 17 percent to 56 cents per share and announced plans to buy back more of its own stock.

? United Continental Holdings, the parent company of United and Continental airlines, surged 6.3 percent. The company's fourth-quarter loss narrowed, its adjusted earnings were more than double what analysts had expected and the cost of integrating the two companies fell.

? Netflix soared 22.1 percent, the most of any stock in the S&P 500, after the video streaming and DVD-by-mail company reported a huge gain in customers and a bigger fourth-quarter profit than analysts had expected.

? Colgate-Palmolive rose 1.9 percent after saying it will raise prices in the U.S. for the first time in years to cover higher costs for materials. The company's profit declined last quarter, but core sales in emerging markets were much stronger.

Source: http://rss.csmonitor.com/~r/feeds/csm/~3/s5rCQ3MbkWI/Stocks-lowered-by-mixed-economic-data

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Family history of psychiatric disorders shapes intellectual interests, study suggests

ScienceDaily (Jan. 26, 2012) ? A hallmark of the individual is the cultivation of personal interests, but for some people, their intellectual pursuits might actually be genetically predetermined. Survey results published by Princeton University researchers in the journal PLoS ONE suggest that a family history of psychiatric conditions such as autism and depression could influence the subjects a person finds engaging.

Although preliminary, the findings provide a new look at the oft-studied link between psychiatric conditions and aptitude in the arts or sciences. While previous studies have explored this link by focusing on highly creative individuals or a person's occupation, the Princeton research indicates that the influence of familial neuropsychiatric traits on personal interests is apparently independent of a person's talent or career path, and could help form a person's basic preferences and personality.

Princeton researchers surveyed nearly 1,100 students from the University's Class of 2014 early in their freshman year to learn which major they would choose based on their intellectual interests. The students were then asked to indicate the incidence of mood disorders, substance abuse or autism spectrum disorder (ASD) in their family, including parents, siblings and grandparents.

Students interested in pursuing a major in the humanities or social sciences were twice as likely to report that a family member had a mood disorder or a problem with substance abuse. Students with an interest in science and technical majors, on the other hand, were three times more likely to report a sibling with an ASD, a range of developmental disorders that includes autism and Asperger syndrome.

Senior researcher Sam Wang, an associate professor in Princeton's Department of Molecular Biology and the Princeton Neuroscience Institute, said that the survey -- though not exhaustive nor based on direct clinical diagnoses -- presents the idea that certain heritable psychiatric conditions are more closely linked to a person's intellectual interests than is currently supposed.

During the past several decades, Wang said, various researchers have found that, in certain people and their relatives, mood or behavior disorders are associated with a higher-than-average representation in careers related to writing and the humanities, while conditions related to autism exhibit a similar correlation with scientific and technical careers.

By focusing on poets, writers and scientists, however, those studies only include people who have advanced far in "artistic" or "scientific" pursuits and professions, potentially excluding a large group of people who have those interests but no particular aptitude or related career, Wang said. He and lead author Benjamin Campbell, a graduate student at Rockefeller University, selected incoming freshmen because the students are old enough to have defined interests, but are not yet on a set career path. (Princeton students do not declare a major until the end of sophomore year.)

"Until our work, evidence of a connection between neuropsychiatric disorders and artistic aptitude, for example, was based on surveying creative people, where creativity is usually defined in terms of occupation or proficiency in an artistic field," Wang said. "But what if there is a broader category of people associated with bipolar or depression, namely people who think that the arts are interesting? The students we surveyed are not all F. Scott Fitzgerald, but many more of them might like to read F. Scott Fitzgerald."

The Princeton research provides a new and "provocative" consideration that other scientists in this area can build upon, said Kay Redfield Jamison, a psychiatry and behavioral science professor at Johns Hopkins University and co-director of the university's Mood Disorders Center.

Jamison, who is well known for her research on bipolar disorder and her work on the artistic/mood disorder connection, said that while interests and choice of career are presumably related, Wang and Campbell present data suggesting that intellectual interests might also be independently shaped by psychiatric conditions, which provides the issue larger context.

In addition, the researchers focused on an age group that is not typically looked at specifically, but that is usually included in analyses that span various ages. Such a targeted approach lends the results a unique perspective, she said. Though the incidence of psychiatric conditions in the Princeton study was based on the students' own reporting and not definitive diagnoses, the rates Wang and Campbell found are not different from other populations, she noted.

"This is an additional way of looking at a complex problem that is very interesting," said Jamison, who played no role in the research project. "This work provides a piece of the puzzle in understanding why people go into particular occupations. In this field, it's important to do as many different kinds of studies as possible, and this is an interesting initial study with very interesting findings. It will provoke people to think about this question and it will provoke people to design other kinds of studies."

An implied connection between psychiatric conditions and a flair for art or science dates to at least Aristotle, who famously noted that those "eminent in philosophy, politics, poetry and the arts have all had tendencies toward melancholia."

Modern explorations of that relationship have examined the actual prevalence of people with neuropsychiatric disorders and their relatives in particular fields.

Among the most recent work, researchers at Sweden's Karolinska Institute reported in the British Journal of Psychiatry in November that of the 300,000 people studied, people with bipolar disorder, as well as their healthy parents and siblings, were more likely to have a "creative" job -- including a field in the arts or sciences -- than people with no familial history of the condition. Parents and siblings of people with schizophrenia also exhibited a greater tendency to have a creative job, though people with schizophrenia did not.

Various other studies in the past few decades have found a similar correlation between psychiatric disorders and "creativity," which is typically defined by a person's career or eminence in an artistic field such as writing or music. In their work, however, Wang and Campbell present those criteria as too narrow. They instead suggest that psychiatric disorders can predispose a person to a predilection for the subject matter independent of any concrete measure of creativity.

Jamison, in an editorial regarding the Karolinska study and published in the same journal issue, wrote that "having a creative occupation is not the same thing as being creative." Wang and Campbell approached their project from the inverse of that statement: Being creative does not necessarily mean a person has a creative occupation.

"A person is not just what they do for a living," Wang said. "I am a scientist, but not just a scientist. I'm also a guy who reads blogs, listens to jazz and likes to cook. In that same respect, I believe we have potentially broadened the original assertion of Aristotle by including not just the artistically creative, but a larger category -- all people whose thought processes gravitate to the humanistic and artistic."

As past studies have, Wang and Campbell suggest a genetic basis for their results. The correlation with interests and psychiatric conditions they observed implies that a common genetic path could lead relatives in similar directions, but with some people developing psychiatric disorders while their kin only possess certain traits of those conditions. Those traits can manifest as preferences for and talents in certain areas, Wang said.

"Altogether, results of our study and those like it suggest that scientists should start thinking about the genetic roots of normal function as much as we discuss the genetic causes of abnormal function. This survey helps show that there might be common cause between the two," Wang said.

"Everyone has specific individual interests that result from experiences in life, but these interests arise from a genetic starting point," Wang said. "This doesn't mean that our genes determine our fate. It just means that our genes launch us down a path in life, leading most people to pursue specific interests and, in extreme cases, leading others toward psychiatric disorders."

This study was published Jan. 26 in the journal PLoS ONE.

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Story Source:

The above story is reprinted from materials provided by Princeton University. The original article was written by Morgan Kelly.

Note: Materials may be edited for content and length. For further information, please contact the source cited above.


Journal Reference:

  1. Benjamin C. Campbell, Samuel S.-H. Wang. Familial Linkage between Neuropsychiatric Disorders and Intellectual Interests. PLoS ONE, 2012; 7 (1): e30405 DOI: 10.1371/journal.pone.0030405

Note: If no author is given, the source is cited instead.

Disclaimer: This article is not intended to provide medical advice, diagnosis or treatment. Views expressed here do not necessarily reflect those of ScienceDaily or its staff.

Source: http://feeds.sciencedaily.com/~r/sciencedaily/~3/gf1V9G6Wy30/120126224317.htm

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Friday, January 27, 2012

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Thursday, January 26, 2012

Melissa McCarthy Reveals Who Made Her Star Struck

Oscar nominee Melissa McCarthy has been enjoying this awards' season, but she wasn't quite ready for one aspect of the red-carpet circuit: getting star struck. The Bridesmaids star told The Ellen DeGeneres Show on Thursday that she got a bit overwhelmed meeting fellow nominees like Brad Pitt and Angelina Jolie.

Source: http://www.ivillage.com/melissa-mccarthy-reveals-who-made-her-star-struck-golden-globes/1-a-422627?dst=iv%3AiVillage%3Amelissa-mccarthy-reveals-who-made-her-star-struck-golden-globes-422627

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French politicians argue over who 'owns' Joan of Arc

In an election year Joan of Arc represents 600-year-old values that fit political messages on both sides of the aisle.

? A local, slice-of-life story from a Monitor correspondent.

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France is celebrating 600 years of its most famous daughter, Joan of Arc. A young peasant girl hearing heavenly voices, fierce yet compassionate and rising as a military leader to end a foreign siege, Joan of Arc still retains a hold on the French imagination.

Starting as a nobody, she broke nearly every 15th-century gender barrier. In 2012 she?s a Christian heroine in a secular state: For the right, a holy warrior of the sacred soil; on the left, a brave iconoclast fighting corrupt elites.

Now in Orl?ans, where in 1429 she instructed French generals how to kick out the British in nine days, there?s a year of conferences, films, art, music, and parades.

But a fight is brewing. In France, culture is politics, and this is an election year. Nationalists have long claimed Joan as theirs. She?s an icon for the far-right National Front, run by Marine Le Pen.

So on Joan?s official birthday, Jan. 6, President Nicolas Sarkozy visited Joan?s birthplace. ?Joan belongs to no party, to no faction, to no clan,? Mr. Sarkozy said. Ms. Le Pen retorted that Sarkozy had abandoned Joan?s values, as well as French national sovereignty, seen in the ?Islamization? of France.

So it goes. What remains outside politics for the French is a life that got the attention of Shakespeare and Mark Twain alike.

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Source: http://rss.csmonitor.com/~r/csmonitor/globalnews/~3/ejU6ikYa4R0/French-politicians-argue-over-who-owns-Joan-of-Arc

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Wednesday, January 25, 2012

The Nuts and Bolts of Investing

The Nuts and Bolts of Investing

by David Fessler, Investment U?s Energy and Infrastructure Specialist
Monday, January 23, 2012

No, this isn?t another investment primer to add to the thousands already out there. It?s actually about nuts and bolts. Real ones. Billions of them. As well as hundreds of thousands of other types of fasteners, connectors and tools.

One of the hobbies I enjoy with my two sons is working on and restoring vintage automobiles. If you?ve ever ?enjoyed? this yourself, you know it?s no secret that you need lots of nuts and bolts, and a myriad of other fasteners and connectors, too.

And even if you have tons of them like I do, there?s a real good chance that the one you need is the one you don?t have. I seem to run into this problem just about every weekend.

Home Depot and Lowe?s have many of the run-of-the-mill fasteners you?re likely to need, but if your project calls for an unusual one, or you?re a commercial contractor looking to buy a five-gallon bucket or a truckload of them, Home Depot and Lowe?s won?t help you.

The place that will is a Fastenal Company (Nasdaq: FAST) store. Fortunately for me, one just opened not too far away from our house. With 2,585 stores located around the country, chances are there?s one near you, too.

Fastenal wholesales and retails construction and industrial supplies, including nuts and bolts. It also sells other fasteners, hydraulic tools, cutting tools, plumbing, electrical supplies, chemicals, paints and janitorial supplies.

The company plans to continue opening new stores this year, with plans to add between 100 and 150 throughout the United States. The company?s stores chalked up revenue of $697.8 million, an increase of 22% year over year for the same quarter. Last quarter?s profits rose 34% to $87.5 million, or $0.30 per share.

While revenue was above estimates, profits were at the low end of the company?s expected range. It attributed vendor incentives and lower freight utilization to the slip in profits.

The company?s CEO, Will Oberton, believes this quarter?s results will be even better than last. ?Overall it was a disciplined quarter on margin.?

Oberton believes margins will significantly increase in the coming quarter, and that the vendor incentives and lower freight utilization were seasonal issues.

Investors seem to believe the company, too. The stock recently eclipsed its 52-week high, and closed last week within a few cents of it.

Why would we be recommending a stock like Fastenal that?s up over 77% in just the last year? Two reasons:

  • The first, it?s yet another backdoor indication that the construction industry is slowly recovering, and that?s a proxy for the housing market.
  • Second, with plans to open over 100 new stores in 2012, there?s still plenty of room for growth. Stores become accretive to the bottom line of the company almost from the day they?re opened.

As the U.S. economy slowly recovers, the nuts and bolts of the economic growth will be supplied by Fastenal. It?s the perfect time to consider backing up the truck and adding this ?nuts and bolts? growth stock to your portfolio.

Good Investing,

David Fessler

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Source: http://www.investmentu.com/2012/January/nuts-and-bolts-of-investing-nasdaq-fast.html

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Video: S&P 500 Oversold?

Walter Zimmermann, United-ICAP, and Todd Morgan, Bel Air Investment Advisors, discuss whether the S&P 500 has risen too high, too quickly.

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Source: http://video.msnbc.msn.com/cnbc/46121284/

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Tuesday, January 24, 2012

[OOC] Group 2 intro: Lucas and Mariah

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Forum for completely Out of Character (OOC) discussion, based around whatever is happening In Character (IC). Discuss plans, storylines, and events; Recruit for your roleplaying game, or find a GM for your playergroup.
This group will be starting in Longmont, Colorado -- South of Fort Collins on 287.

Places of Interest:
- Hamms Nature Area
- Izaak Walton Park
- McIntosh Park and Lake
- Union Resevoir
- Golden Ponds
- Vance Brand Airport
- Garden Acres Park
- Clark Centennial Park
- Numerous Grocers (Simply Bulk Market, AB Supermarket, Flavor of India, Safeway, 7-Eleven, Dollar Store, Loaf 'N Jug, Natural Grocers, Robin Chocolates, Pantry Market, etc.)
- Numerous Pharmacies (Walgreens, The Medicine Shoppe, Safeway, Good Day Pharmacy, King Soopers, Associated Pharmacists)
- Numerous Sporting Goods (Dick's Sporting Goods, WTW Corp, Grand Shelters Inc)
- Numerous medical clinics

Environment:
The estimated population of Longmont, CO is 71,093
Longmont is highly urban, influenced by its proximity to the Boulder metro area.
Vegetation is sparse, due to the development of homes, but carefully tended parks provide a lush atmosphere.
Once you exit Longmont, the population becomes much less dense and developed.

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Monday, January 23, 2012

EU formally adopts Iran oil embargo (AP)

BRUSSELS ? The European Union imposed an oil embargo against Iran on Monday and froze the assets of its central bank, part of sanctions to pressure Iranian officials into resuming talks on the country's controversial nuclear program.

The measures, approved in Brussels by the EU's 27 foreign ministers, include an immediate embargo on new contracts for crude oil and petroleum products. Existing contracts with Iran will be allowed to run until July.

Some 80 percent of Iran's foreign revenue comes from oil exports and any measures or sanctions taken that affect its ability to export oil could hit hard at its economy. With about 4 million barrels per day, Iran is the second largest producer in OPEC.

Iran says its nuclear program is peaceful, but the United States and other nations suspect it is trying to build nuclear weapons. Iran is now under several rounds of U.N. sanctions for not being more forthcoming about its nuclear program.

Two Iranian lawmakers, meanwhile, stepped up threats that their country would close the strategic Strait of Hormuz, through which a fifth of the world's crude flows, in retaliation for the EU oil sanctions.

Lawmaker Mohammad Ismail Kowsari, deputy head of Iran's influential committee on national security, said Monday the strait "would definitely be closed if the sale of Iranian oil is violated in any way."

Tensions over the strait and the potential impact its closure would have on global oil supplies and the price of crude have weighed heavily on consumers and traders. The U.S. and Britain both have warned Iran not to disrupt the world's oil supply.

Many analysts doubt that Iran would maintain a blockade for long, but any supply shortages would cause world oil supplies to tighten temporarily.

For its part, the United States has enacted, but not yet put into force, sanctions targeting Iran's central bank and, by extension, the country's ability to be paid for its oil.

After news of the EU move, benchmark crude for March delivery rose 90 cents on the day to $99.23 a barrel in early morning European time in electronic trading on the New York Mercantile Exchange.

Brent crude was down 35 cents at $109.51 a barrel on the ICE futures exchange in London.

EU diplomats are calling the measure part of a twin track approach toward Iran: increase sanctions to discourage what they suspect is Iran pursuit of nuclear weapons but to emphasize at the same time the international community's willingness to talk.

Iran says its nuclear program is exclusively for peaceful purposes, but EU foreign ministers are not convinced.

"The recent start of operations of enrichment of uranium to a level of up to 20 percent in the deeply buried underground facility in Fordo near Qom further aggravates concerns about the possible military dimensions to Iran's nuclear program," they said in a statement.

That accelerated enrichment is in violation of six U.N. Security Council resolutions and 11 resolutions by the board of the International Atomic Energy Agency, "and contributes to rising tensions in the region," the statement said.

British Foreign Secretary William Hague called the embargo part of "an unprecedented set of sanctions."

"I think this shows the resolve of the European Union on this issue," Hague said.

The EU also decided to freeze the assets of the Iranian central bank. Together, the two measures are intended not only to pressure Iran to agree to talks but also to choke off funding for its nuclear activities.

In October, EU foreign policy chief Catherine Ashton sent a letter to Saeed Jalili, Iran's top nuclear negotiator, saying her goal was a negotiated solution that "restores international confidence in the exclusively peaceful nature of Iran's nuclear program."

She says she has not yet received a reply.

Before Monday's decision, negotiators worked hard to try to ensure that the embargo would punish only Iran ? and not EU member Greece, which is in dire financial trouble and relies heavily on low-priced Iranian oil.

The foreign ministers agreed to a review of the effects of the sanctions, to be completed by May 1. And they agreed in principle to make up the costs Greece incurs as a result of the embargo.

"It is important to know what will happen to individual countries as a consequence of the sanctions," Ashton said before the foreign ministers' meeting in Brussels.

The National Council of Resistance of Iran, an exile group opposed to Iran's clerical regime, welcomed the new sanctions and called for their implementation without delay.

"For over two decades, the Iranian Resistance has called for comprehensive oil and financial sanctions against the religious and terrorist dictatorship ruling Iran," Maryam Rajavi, the organization's president-elect said in a statement.

She said "the five-month delay in putting these sanctions in full force provides a significant amount of time for this regime to implement its ominous plots."

The council, founded in 1981, is considered a terrorist organization by the United States, but not by the European Union.

German Foreign Minister Guido Westerwelle said it was critical that action be taken.

"This is not a question of security in the region," he said. "It is a question of security in the world."

____

Raf Casert contributed to this report

Source: http://us.rd.yahoo.com/dailynews/rss/topstories/*http%3A//news.yahoo.com/s/ap/20120123/ap_on_bi_ge/eu_eu_iran

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Weekend Watch Update

JLC-Spherotourbillon-watch-7For the third time in a row Tag Heuer has once again released the worlds most precise mechanical chronograph watch. The oddly named Mikrogirder 2000 watch measures time with 5/10,000th of a second precision (and flair). The best German luxury brand A. Lange & Sohne releases a watch that sincere watch connoisseurs will go ga-ga over. It is the new Lange 1 Tourbillon Perpetual Calendar timepiece.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/3WS8tsmyk2I/

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Sunday, January 22, 2012

AUTOMOTIVE - AUTOS: Barrett-Jackson Scottsdale Scores With ...

AUTOS: Barrett-Jackson Scottsdale Scores With Million-Dollar Saturday Sales

Tucker Torpedo, Bentley Franay, Mercedes Gullwing among the prime-time cars selling for more than $2 million each.

The big-dog collector cars hit the stage at Barrett-Jackson on Saturday, with a number of multi-million-dollar sales as superb classics and unique concepts thrilled the gigantic crowd in the main tent.

All told, eight cars ran into the millions of dollars. Through Saturday, total sales for the Scottsdale auction exceed $76 million.

The rare and beautifully restored 1948 Tucker Torpedo is the highest seller of the Scottsdale auction at $2.65 million, plus 10 percent bidder fee. (Photo: Bob Golfen) Not surprisingly, the headline collector car of the Scottsdale auction, the 1948 Tucker Torpedo, became the top sale of the event with a resounding bid of $2.65 million, plus 10 percent bidder fee.

One of just 51 cars built in the short life of the Tucker car company, the gleaming-blue, rear-engine sedan with its signature triple headlights rolled onto stage with a round of applause from the massive auction crowd that didn?t stop until the Tucker was hammered ?sold? by auctioneer Spanky Assiter.

?The best Tucker in the world in my opinion,? Barrett-Jackson president Steve Davis said of the car consigned from the Ron Pratte collection in Chandler, Ariz.

Another star of the Scottsdale auction, the 1947 Bentley Mark VI with its glorious Franay body, climbed quickly to a winning bid of $2.5 million, plus 10 percent bidder fee.

The Franay-bodied 1947 Bentley Mark VI won a top sale of $2.5 million. plus bidder fee. (Photo: Bob Golfen) Widely considered to be the most beautiful Bentley ever built, the auction car was also brought to the auction by Pratte, a Barrett-Jackson regular and renowned car enthusiast.

?An English chassis with a beautiful French coach on it,? auction CEO Craig Jackson said before the bidding. ?This has to be the most beautiful Bentley ever produced.?

The all-original 1954 Mercedes-Benz 300SL Gullwing driven just over 4,000 miles was the first car of the evening to hit $2 million, before 10 percent bidder fee, which is a towering price for a steel (rather than alloy) Gullwing but not unexpected considering its pristine condition.

Next up was the exotic and extremely rare 1933 Pierce Arrow Silver Arrow, also from Don William?s Blackhawk Collection, that equaled the Gullwing sale at $2 million, before fee.

Source: http://automotive.speedtv.com/article/autos-barrett-jackson-scores-with-million-dollar-saturday-sales/

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Divers resume search for 21 missing from ship (AP)

ROME ? Divers resumed the search Thursday for 21 people still missing after a cruise ship capsized off the Tuscan coast, but rough seas forecast for later in the day added an element of uncertainty to the operation and plans to begin pumping fuel from the stranded vessel.

The $450 million Costa Concordia was carrying more than 4,200 passengers and crew when it slammed into a reef and capsized Friday after the captain made an unauthorized diversion from his programmed route and strayed into the perilous waters.

Eleven people have been confirmed dead, their bodies removed from the ship and frigid waters.

Divers were focusing on an evacuation route on the fourth level, now about 18 meters (60 feet) below the surface, where five bodies were found earlier this week, Navy spokesman Alessandro Busonero told Sky TG 24.

Officials restarted the search after determining the ship had stabilized after shifting on the rocks 24 hours earlier.

The ship's sudden movement also postponed the start of the weekslong operation to extract the half-million gallons of fuel on board the vessel, as Italy's environment minister warned Parliament of the ecological implications if the ship sinks.

"Today is an important day, the weather forecasts are negative, rough sea, we'll have to see how the ship reacts to that," firefighter spokesman Luca Cari said Thursday.

Authorities on Wednesday identified the first victim: Sandor Feher, a 38-year-old Hungarian musician working aboard, who a fellow musician said helped crying children into lifejackets, then disappeared while trying to retrieve his beloved violin from his cabin. His body was found inside the wreck and identified by his mother who traveled to Italy, according to the Hungarian Foreign Ministry.

Of the 11 dead and 21 missing, Italian officials have only released 27 names so far. They are two Americans, 12 Germans, six Italians, four French, and one person each from Hungary, India and Peru.

Among the missing are an Italian father and 5-year-old daughter. The girl's mother issued a fresh appeal to speed the search and for passengers who saw the pair to come forward to help determine where they were last seen.

"Don't stop, bring home my daughter. Get her out," Susy Albertini, 28, said on Italian television Wednesday evening after meeting with government and port officials in Tuscany.

Albertini last saw her daughter, Dayana Arlotti, on Thursday when she dropped her off at nursery school in Rimini on Italy's Adriadic coast, according to La Voce di Romagna newspaper. Her estranged husband picked up the girl afterward to prepare for the cruise.

William Arlotti, 36, had taken his daughter on on the cruise with his girlfriend, Michela Marconcelli, who survived. She reported seeing Dayana, who was wearing a lifejacket, slide into the water when the boat shifted, but said someone helped retrieve her, the newspaper reported.

Marconcelli said she was pushed forward onto the life raft, and lost track of her companion and his daughter.

Other missing include retirees Jerry and Barbara Heil of White Bear Lake, Minnesota. The couple were treating themselves after putting four children through college.

The Heil children said in a blog post Wednesday that their parents were not among the passengers whose bodies were recently recovered, and they were praying that weather conditions would improve so authorities could resume search operations.

Capt. Francesco Schettino, who was jailed after he left the ship before everyone was safely evacuated, was placed under house arrest Tuesday, facing possible charges of manslaughter, causing a shipwreck and abandoning his ship.

The ship's operator, Crociere Costa SpA, has accused Schettino of causing the wreck by making the unapproved detour, and the captain has acknowledged carrying out what he called a "tourist navigation" that brought the ship closer to Giglio. Costa has said such a navigational "fly by" was done last Aug. 9-10, after being approved by the company and Giglio port authorities.

However, Lloyd's List Intelligence, a leading maritime publication, said Wednesday its tracking of the ship's August route showed it actually took the Concordia slightly closer to Giglio than the course that caused Friday's disaster.

"This is not a black-and-white case," Richard Meade, editor of Lloyd's List, said in a statement.

"Our data suggests that both routes took the vessel within 200 meters (yards) of the impact point and that the authorized route was actually closer to shore."

New audio of Schettino's communications with the coast guard during the crisis emerged Wednesday, with the captain claiming he ended up in a life raft after he tripped and fell into the water.

"I did not abandon a ship with 100 people on board, the ship suddenly listed and we were thrown into the water," Schettino said, according to a transcript published Wednesday in the Corriere della Sera paper.

Initial audio of Schettino's conversations made headlines on Tuesday, showing an increasingly exasperated coast guard officer ordering Schettino back on board to direct the evacuation, and the captain resisting, saying it was too dark and the ship was tipping.

The officer's order, "Get back on board, (expletive!)" has entered the Italian lexicon, becoming a Twitter hashtag and adorning T-shirts.

Source: http://us.rd.yahoo.com/dailynews/rss/topstories/*http%3A//news.yahoo.com/s/ap/20120119/ap_on_bi_ge/eu_italy_cruise_aground

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Saturday, January 21, 2012

Williams-Sonoma must jump hurdles to return home

FILE - In this March 20, 2007 file photo, Chuck Williams stands in front of his original store location in Sonoma, Calif, during a reception celebrating the company's 50th anniversary. High-end cookware retailer Williams-Sonoma could be blocked from returning to its hometown, as the Sonoma City Council considers enacting a moratorium on chain stores. The company has been in discussions to buy the downtown building where it opened its first store in 1956. (AP Photo/Press Democrat, Mark Aronoff, File)

FILE - In this March 20, 2007 file photo, Chuck Williams stands in front of his original store location in Sonoma, Calif, during a reception celebrating the company's 50th anniversary. High-end cookware retailer Williams-Sonoma could be blocked from returning to its hometown, as the Sonoma City Council considers enacting a moratorium on chain stores. The company has been in discussions to buy the downtown building where it opened its first store in 1956. (AP Photo/Press Democrat, Mark Aronoff, File)

FILE - In this March 20, 2007 file photo Chuck Williams, center, founder of Williams-Sonoma Inc., stands outside his very first storefront as a plaque, lower left, is unveiled to mark his company's 50th anniversary in Sonoma, Calif. High-end cookware retailer Williams-Sonoma could be blocked from returning to its hometown, as the Sonoma City Council considers enacting a moratorium on chain stores. The company has been in discussions to buy the downtown building where it opened its first store in 1956. (AP Photo/Eric Risberg, File)

(AP) ? It's not easy going home. Particularly if you're a behemoth commercial enterprise and home is a quaint, historic town.

The first store of the upscale cookware giant Williams-Sonoma was here in the heart of wine country. But only for two years, as founder Chuck Williams quickly realized what a money-maker he had and moved the store to the bigger market of San Francisco.

Today, the $3 billion chain with some 250 stores nationwide wants to come home. It hopes to open a smaller, boutique version of the typical Williams-Sonoma outlet at the original site that first opened at 601 Broadway in 1956.

"Sonoma was Chuck's beloved home for many years, and the location of the first Williams-Sonoma store," said Rebecca Weill, a spokeswoman for Williams-Sonoma. "When we learned of this real estate opportunity, we thought what better way to honor Chuck than to bring his journey full circle."

But those plans are in flux as the city grapples with maintaining its local charm while growing its economy.

The City Council was prepared to vote on a temporary moratorium Wednesday that would have banned all chain stores from its historic downtown plaza. Though three of the five councilmembers were in favor of the temporary ban, they needed at least four to pass the interim edict, so they shelved it without a vote.

"There will be no moratorium of any kind on formula businesses in Sonoma," declared Mayor Joanna Sanders.

The City Council will now turn its focus to drafting a zoning ordinance that will establish a use-permit and possible ban on large-scale "formula" stores from what remains today the largest public square in California.

The city councilmembers insisted they had no intention of snubbing Williams-Sonoma. They simply want to maintain the city's historic charm and avoid the Starbucks, Applebee's and McDonalds from taking over their historic plaza, since there currently is no legislation in place to prevent just that.

"Williams-Sonoma is a special case and they deserve special treatment," Councilmember Ken Brown said in an interview before the City Council meeting. "It doesn't mean that every other formula store and chain gets the same pass. So in my opinion, the dialogue is far from over. If I were Williams-Sonoma, I would encourage them to pursue their dreams of coming home."

Not everyone is as welcoming.

Stuart Teitelbaum, owner of the Homegrown Baking Co., had urged the City Council to pass the temporary moratorium.

"I too would be proud to say that I'm from a town that refused the onslaught of large business and maintained its character, steadfast in the face of possible economic consequences," he said.

Sanders hopes the zoning kerfuffle won't scare off the kitchenware giant that has become a household name.

She is opposed to any chain-store regulations in the city that was once the capital of the California Republic in the 1800s, and believes there is room for growth while conserving the charm of the rural community nestled in the Sonoma Valley.

"It's a business that has become somewhat of a household name," she said of Williams-Sonoma. "And with that, it has tugged us along behind in the little red wagon. Sonoma is on the map as a tourist destination, a premier wine-country venue, a historic town ? partly because of that name recognition."

Sonoma City Manager Linda Kelly said that Williams-Sonoma planners met with city officials last week. She said they want to open a smaller version of its typical mall outlet, one that would honor its origins.

The store would not be on the main historic plaza, but would still have to meet new criteria if the draft ordinance is passed, namely that it promotes diversity, is compatible with the town's historic character and adds to the economic vitality of Sonoma.

City planners said Williams-Sonoma currently is negotiating the contract on the property where Chuck Williams, 97, first started selling his high-end cookware imported from France.

"They want to make it more of a destination store," Kelly said. "They want to go back to their roots and showcase their history."

Kelly said they intend to use old photos and some of the original appliances that Williams himself first sold; there would be guest chefs and cooking demonstrations. And a small retail outlet.

The owners of the most popular kitchenware store in town are torn about the possible return of the retail giant responsible for revolutionizing the way many Americans cook by bringing a European sensibility into their kitchens.

"It's a tremendous question mark," said Laura Havlek, when asked whether Williams-Sonoma would hurt her business. She has owned the Sign of the Bear Kitchenware store with her husband, Stephen, since 1991. It overlooks the landmark stone City Hall and meandering duck pond in the heart of the plaza where the grizzly bear once graced the California Republic flag.

"It's an issue where you really can see both sides," she said. "Williams-Sonoma has done so much to advance the industry; I think about how much innovation that store created."

On the other hand, said the Sonoma native, "This is a town I've loved my whole life. I'm struck by how beautiful it is and how fortunate we are and when you look around the square, what makes it so special are all of the local merchants."

Several doors down from Sign of the Bear is the Charles Creek Vineyard wine store. Manager Alan Wastell, another Sonoma native, said rumors are rampant about the possible return of Williams-Sonoma.

"The fact that there is no Williams-Sonoma in the county of Sonoma ? that's a kind of interesting irony," he said. "Change is not all good or bad. Change is change. But I would not like to see change become fast-food and strip malls."

While there is a Chico's clothing store and a Ben & Jerry's on the plaza, there are no Starbucks and most of the stores, boutiques and restaurants, pottery, artisan cheese and wine stores are locally owned. Some have been there for decades.

The debate was sparked when a Staples store was allowed to open last year on the outskirts of town. Some locals worried it was the slippery slope toward looking like every other bland California town peppered with Targets and Trader Joe's.

Sanders notes that while there was a hue and cry over Whole Foods coming to town several years ago and putting the local Sonoma Market out of business, the two have gone on to thrive.

"Sonoma Market is still wildly successful and the city is better off for it; there's competition and we get better service," she said.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/386c25518f464186bf7a2ac026580ce7/Article_2012-01-19-Williams-Sonoma-Homecoming/id-c2797184289a4896ac932ff86ca2bb05

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Lose a job, prepare for really long job search

Bureau of Labor Statistics

The median amount of time it's taking for unemployed people to find new jobs is about 21 weeks.

Here?s the good news: Employers are hiring more workers than they are firing these days, a welcome turnaround from the darkest days of the Great Recession.

Here?s the bad news: If you are among those unlucky enough to lose your job now, you'd better prepare for a long job search.

The median duration of unemployment was 21 weeks or about five months as of December. That means half of all unemployed workers had been without a job for more than five months.

That?s actually an improvement from mid-2010, when the median duration of unemployment peaked at 25 weeks. But it?s still nearly three times what it was before the recession began and much higher than in previous tough job markets.

The main problem: There just aren?t enough jobs to go around.

Last year the economy added an average of about 137,000 jobs a month. While that?s better than when the economy was shedding jobs, it wasn?t nearly enough to absorb the millions of unemployed and new workers entering the market, said Sylvia Allegretto, an economist with the Institute for Research on Labor and Employment at the University of California, Berkeley.

?That rate of job growth is simply not fast enough to really soak up all those who are unemployed and underemployed, and those who have left the labor market and will be coming back to the labor market,? Allegretto said.

?

Allegretto doesn?t expect the situation to improve?much soon for the long-term unemployed.

That?s partly because there are still 13 million people who are unemployed and seeking work. It?s also because there are many other Americans out there who may have stopped looking for a job because the market was so bad, and will start looking again if the market improves.

Those excruciatingly long job searches are an especially big problem for older workers. The median duration of unemployment for 20- to 24-year-olds was 16.3 weeks in December, compared with 31.4 weeks for 55- to 64-year-olds.

Related:

Many Americans still not prepared for a job loss?????
Five years without work: Labor department will now track it

How long do you think it would take you to find a new job?

Source: http://lifeinc.today.msnbc.msn.com/_news/2012/01/20/10192757-lose-a-job-prepare-for-a-really-long-job-search

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