Off the Charts: European Banks Thriving as Investor Fears Ease





THE European bank crisis was one of the major worries of 2012. There were forecasts that the euro zone would break up, that various countries would default on their debts and that undercapitalized banks would fail because national governments could not afford to keep them alive.




The bank crisis is not yet resolved, but it “appears to have been put on the back burner of investor concerns,” Jeffrey Yale Rubin and Kevin Pleines of Birinyi Associates said in a research bulletin sent to clients this week.


The accompanying charts show what has happened to the share prices of an index of euro zone bank stocks, and to each of the 28 members in the index, since June 30. In early July, the index kept falling, but by late in the month it turned around. Anyone who bought all the banks at the end of June is up by about 25 percent. Anyone with the good fortune to buy at the exact bottom has a profit of about half the money invested.


The bank stocks have outperformed other European stocks and they have outperformed American bank stocks, although the shares of most American banks also have risen.


The reasons for the relaxation of investor fears are simple enough. There is a growing confidence that euro zone institutions will succeed in their support efforts. Finance ministers are still arguing about the details of a single regulator for banks throughout the zone, but the European Central Bank’s promise to lend money to banks that need it is widely accepted, and investors believe that Germany will put up whatever money is needed to keep the euro zone from breaking up.


Troubled governments like Italy and Spain are still paying much more than Germany to borrow, but their rates have fallen. Costs have declined even in Portugal, which is in the weakest position of countries other than Greece. The French banks led the way up in late 2012, but even the price of Banco Espirito, a Portuguese bank, has soared by about half since midyear. There are still major concerns about troubled Spanish banks, and two of those join an Italian institution in being the only stock market losers over the period. But the National Bank of Greece managed a small gain.


None of this means that those banks have served long-term shareholders well. Only one of them, a Finnish institution, has a share price higher than it did at the end of 2007, before the financial crisis.


But, for now at least, investors seem to have growing confidence that the banks will survive. Given the fears of a few months ago, that is reason for celebration.


Floyd Norris comments on finance and the economy at nytimes.com/economix.



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An actor despairs in Tinseltown









Seth Burnham sat in a dim corner of Kaldi Coffee & Tea, clutching a mug as he tried to conjure some confidence.


Being here in L.A., I'm giving it everything, he thought.


But after three years of living in Los Angeles, he hadn't had a single role he could be proud of. In a cable TV comedy, he played Percy the Carjacker, a dimwit blown to shreds by an air hose. For an independent film, he had been the best friend of a beautiful woman — a role the script called Small Gay Man.





Hollywood is one big lottery. You have to play it if you want a career in movies or TV....You have to be here. You have to believe.


Sometimes that was tough. Take STARmeter, the entertainment insider's website that measures the popularity of Hollywood actors.


"I was No. 80,000," Burnham said, "for a while."


Frustrated and fatigued, he would retire to this worn, cave-like cafe in Atwater Village.


He had found his surrogate Los Angeles family here, a group of a dozen or so who eased his loneliness and shared his Hollywood ambition: Amy, the animator who had worked on "South Park," Nicholas, whose latest film was well received at the Sundance Film Festival, and Amad, a rising African American actor who worried about being typecast in criminal roles.


They stayed for hours, talking, typing, hunched hard over laptops, nursing lattes. They were actors, writers and directors; stragglers, success stories and hard-luck cases like Burnham.


Many days, he sat in a torn leather chair reading through newspapers and memorizing scripts. He seemed swallowed in the furniture — brown-haired, bearded, not much more than 5 feet tall, with worry lines marching from the corners of his eyes.


Time was against him. Asked his age back in February, Burnham paused. "Mid 30s-ish, early 40s-ish," he said.


Outside of the cafe, he had few Los Angeles friends. His wife, a medical student, moved to St. Louis last year for a residency, but he stayed here. They decided that if she was going to devote herself fully to her dream, then he would too.


But how much more rejection could he handle? And was the unrelenting struggle worth more to him than his marriage?


::


Since his college days in the early 1990s, the acting quest had taken Burnham to several cities. He lived in San Francisco and London, where he trained at a drama school in the classical English style and started a theater company. He lived in Portland, Ore., and Seattle, where he got good reviews for his role in a modern adaptation of Chekhov's "The Seagull."


Everywhere he put down roots he found a place like Kaldi. "The anti-Starbucks," he said. "Just my style."


In Los Angeles, he developed a cafe routine. Each morning, he awoke in his cramped apartment, fed kibbles to his cats, threw on his sneakers and walked across Glendale Boulevard.


He drank two iced coffees a day, no more. He couldn't afford more, not when he didn't have a job — he had to be free for auditions. He relied on credit cards and his wife's salary to pay his bills.


Burnham didn't want fame; he wanted to simply be a journeyman, a working actor, appreciated for his skill, making roughly the same yearly salary as a union electrician.


He sat in the cafe for entire mornings and sometimes entire days. "Wrestling demons," he said.





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How Trusting in Vice Led to John McAfee's Downfall



By now, you are aware of John McAfee. If there’s one thing that the sexagenarian millionaire antivirus founder seems to love more than teenage girls, it’s publicity. And he is extremely adroit at getting it. His misadventures in Central America have eaten the media whole. Even now, in the hospital where he was taken after suffering chest pain, he is surrounded by a crush of media.


He’s a natural story, as I learned firsthand earlier this year. Charming and good-looking, he peppers his speech in Virginia-accented “sirs.” It’s disarming, like some patrician version of neuro-linguistic programming. Combined with his wild stories, it means reporters love to talk to him.


And of course, he is a media magnet for other reasons too, all related to his bizarre lifestyle. His relocation to Belize. His fights with that nation’s government. His coterie of young women. The armed gang members he associates with. The allegations of drug use. The McAfee story, with its drugs and guns and prostitutes and allegations of police corruption, seemed tailor-made for Vice, a publication that revels in all of those subjects on a regular basis. It is as if some hipster god reached down and extended a smelly, fickle finger of fate to Vice editor-in-chief Rocco Castoro, muttering “here’s a cool story, bro.”


Naturally, Vice scuttled down to Belize, and traveled with McAfee as he fled the country, penning a blog post titled “We Are With John McAfee Right Now, Suckers.”


Vice is just the most recent media crew McAfee has latched onto. And if the past is prologue, it won’t go well. The chummy relationship McAfee tends to enjoy with his contacts in the media almost always goes south. He’s previously attached his media ambitions on Jeff Wise, only to then smear him, and then subsequently apologize. Wired’s own Joshua Davis also enjoyed his attentions, and when McAfee first went on the lam, he gave Davis exclusive interviews. This lasted until Davis wrote stories McAfee didn’t like, at which point the old man in the jungle claimed it had all been a ruse and quit talking to Davis.


So now he’s with Vice. In a blog post he later deleted, he claimed they would tell his real story. That Vice would show once and for all whether or not he is a drug-crazed madman. Instead, he’s in a hospital in Guatemala after having been detained by police, and facing likely deportation.


Oddly, Vice directly contributed to McAfee’s capture by revealing his location in the metadata of a photo it published. This was deeply stupid. People have been pointing out the dangers of inadvertently leaving GPS tags in cellphone pictures for years and years. Vice is the same publication that regularly drops in on revolutions and all manner of criminals. They should have known better.


Then, it followed up this egregiously stupid action with a far worse one. Vice photographer Robert King apparently lied on his Facebook page and Twitter in order to protect McAfee. Like McAfee, he claimed that the geodata in the photo had been manipulated to conceal their true location.


This explanation, of course, made no damn sense at all. If McAfee and King were trying to conceal their location by spreading disinformation, why immediately admit to it?


Shortly thereafter, McAfee copped to lying, and admitted to being in Guatemala. King deleted his tweet and Facebook status update. McAfee blamed the disclosure on a Vice “technician,” but regardless of whether it was a technician who screwed up, or King, or Castoro, or some intern, the photo that revealed his whereabouts in Guatemala appeared in Vice. And that photo, effectively, forced McAfee out of hiding.


But the coverup, as always, is worse than the crime. In claiming the geodata had been manipulated when it had not, Vice was no longer just documenting. Now it was actively aiding a fugitive wanted for questioning in the murder investigation of his neighbor Gregory Faull, who was shot dead at his own home.


McAfee had claimed that his plan was to leave the country temporarily, to get his traveling companion and lover Sam out, and then to return to Belize to fight from the inside without turning himself in. But once his location was blown, he had to get a brand-new plan. He would seek asylum in Guatemala. He hired a lawyer, TelĂ©sforo Guerra, formerly the attorney general of Guatemala. Vice crowed that McAfee had “just hired the best lawyer in the country.” Take that, suckers.


Vice documented how this attorney, also Sam’s uncle, was able to hook McAfee up with a tailor. He promised McAfee he could make the tailor actually sew faster. McAfee promised publicity in return. Vice rolled cameras.


And then, like that, it was over. King again took to social media to report the arrest, claiming McAfee had been taken into custody by “Guatemalan Federalizes.” Vice posted footage of McAfee being taken into police custody by Guatemala’s National Civil Police and Interpol.


Today, Guatemala’s president denied McAfee asylum. Guatemala is kicking McAfee out of the country, back to Belize. Afterwards, his lawyer claimed McAfee had two heart attacks. ABC reports he has been hospitalized. It’s hard not to wonder if this, too, is part of the plan. If there is a plan.




Though his offer of a $25,000 reward for information about the real killers strikes obvious O.J. Simpson chords, there’s so far no public evidence — aside from his flight — that he anything to do with the murder.


He may have shot his neighbor in the head. He may have ordered one of the gangsters in his employ to do so. He may have had a “will no one rid me of this troublesome priest” moment that caused one of his hangers-on to take it upon himself or herself to kill Faul. He and his entourage may have had nothing to do with it whatsoever. He may be completely innocent.


Nobody knows.


McAfee is clearly sleazy, likely crazy, and possibly even a murderer. But he also would be a free man right now were it not for Vice’s screw up.


As Alan Rules pointed out on Twitter, Vice could come out of this looking good either way. If McAfee turns out to be innocent, it is there to document it and even attempted to help him win his freedom. If he’s guilty, they helped bring him to justice, and have an action-packed documentary to boot. And if he dies? Well. The camera is ready.


Vice promises more footage. That it will continue to pick over John McAfee until he is free or dead or imprisoned, all of which now seem equally likely. And ultimately it offers an implicit promise that it can play by a different set of rules, one that allows it to burn sources and lie to readers. Maybe this is the media partner McAfee has truly wanted all along. Cool story, bro.


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Actor Stephen Baldwin charged in NY tax case












WHITE PLAINS, N.Y. (AP) — Actor Stephen Baldwin was charged Thursday with failing to pay New York state taxes for three years, amassing a $ 350,000 debt.


Rockland County District Attorney Thomas Zugibe said Baldwin, of Upper Grandview, skipped his taxes in 2008, 2009 and 2010.












The youngest of the four acting Baldwin brothers pleaded not guilty at an arraignment and was freed without bail. His lawyer, Russell Yankwitt, said Baldwin should not have been charged.


“Mr. Baldwin did not commit any crimes, and he’s working with the district attorney‘s office and the New York State Tax Department to resolve any differences,” Yankwitt said.


The district attorney said Baldwin could face up to four years in prison if convicted. The actor is due back in court on Feb. 5.


Zugibe said Baldwin owes more than $ 350,000 in tax and penalties.


“We cannot afford to allow wealthy residents to break the law by cheating on their taxes,” the district attorney said. “The defendant’s repetitive failure to file returns and pay taxes over a period of several years contributes to the sweeping cutbacks and closures in local government and in our schools.”


Thomas Mattox, the state tax commissioner, said, “It is rare and unfortunate for a personal income tax case to require such strong enforcement measures.”


Baldwin, 46, starred in 1995′s “The Usual Suspects” and appeared in 1989′s “Born on the Fourth of July.” He is scheduled to appear in March on NBC’s “The Celebrity Apprentice.”


His brothers Alec, William and Daniel are also actors.


A bankruptcy filing in 2009 said Stephen Baldwin owed $ 1.2 million on two mortgages, $ 1 million in taxes and $ 70,000 on credit cards.


In October, Baldwin pleaded guilty in Manhattan to unlicensed driving and was ordered to pay a $ 75 fine. Earlier this year, he lost a $ 17 million civil case in New Orleans after claiming that actor Kevin Costner and a business partner duped him in a deal related to the cleanup of the 2010 Gulf of Mexico oil spill. The actors and others had formed a company that marketed devices that separate oil from water.


Baldwin co-hosts a radio show with conservative talk figure Kevin McCullough.


Entertainment News Headlines – Yahoo! News


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Extended Use of Breast Cancer Drug Suggested


The widely prescribed drug tamoxifen already plays a major role in reducing the risk of death from breast cancer. But a new study suggests that women should be taking the drug for twice as long as is now customary, a finding that could upend the standard that has been in place for about 15 years.


In the study, patients who continued taking tamoxifen for 10 years were less likely to have the cancer come back or to die from the disease than women who took the drug for only five years, the current standard of care.


“Certainly, the advice to stop in five years should not stand,” said Prof. Richard Peto, a medical statistician at Oxford University and senior author of the study, which was published in The Lancet on Wednesday and presented at the San Antonio Breast Cancer Symposium.


Breast cancer specialists not involved in the study said the results could have the biggest impact on premenopausal women, who account for a fifth to a quarter of new breast cancer cases. Postmenopausal women tend to take different drugs, but some experts said the results suggest that those drugs might be taken for a longer duration as well.


“We’ve been waiting for this result,” said Dr. Robert W. Carlson, a professor of medicine at Stanford University. “I think it is especially practice-changing in premenopausal women because the results do favor a 10-year regimen.”


Dr. Eric P. Winer, chief of women’s cancers at the Dana-Farber Cancer Institute in Boston, said that even women who completed their five years of tamoxifen months or years ago might consider starting on the drug again.


Tamoxifen blocks the effect of the hormone estrogen, which fuels tumor growth in estrogen receptor-positive cancers that account for about 65 percent of cases in premenopausal women. Some small studies in the 1990s suggested that there was no benefit to using tamoxifen longer than five years, so that has been the standard.


About 227,000 cases of breast cancer are diagnosed each year in the United States, and an estimated 30,000 of them are in premenopausal women with estrogen receptor-positive cancer and prime candidates for tamoxifen. But postmenopausal women also take tamoxifen if they cannot tolerate the alternative drugs, known as aromatase inhibitors.


The new study, known as Atlas, included nearly 7,000 women with ER-positive disease who had completed five years of tamoxifen. They came from about three dozen countries. Half were chosen at random to take the drug another five years, while the others were told to stop.


In the group assigned to take tamoxifen for 10 years, 21.4 percent had a recurrence of breast cancer in the ensuing 10 years, meaning the period 5 to 14 years after their diagnoses. The recurrence rate for those who took only five years of tamoxifen was 25.1 percent.


About 12.2 percent of those in the 10-year treatment group died from breast cancer, compared with 15 percent for those in the control group.


There was virtually no difference in death and recurrence between the two groups during the five years of extra tamoxifen. The difference came in later years, suggesting that tamoxifen has a carry-over effect that lasts long after women stop taking it.


Whether these differences are big enough to cause women to take the drug for twice as long remains to be seen.


“The treatment effect is real, but it’s modest,” said Dr. Paul E. Goss, director of breast cancer research at the Massachusetts General Hospital.


Tamoxifen has side effects, including endometrial cancer, blood clots and hot flashes, which cause many women to stop taking the drug. In the Atlas trial, it appears that roughly 40 percent of the patients assigned to take tamoxifen for the additional five years stopped prematurely.


Some 3.1 percent of those taking the extra five years of tamoxifen got endometrial cancer versus 1.6 percent in the control group. However, only 0.6 percent of those in the longer treatment group died from endometrial cancer or pulmonary blood clots, compared with 0.4 percent in the control group.


“Over all, the benefits of extended tamoxifen seemed to outweigh the risks substantially,” Trevor J. Powles of the Cancer Center London, said in a commentary published by The Lancet.


Dr. Judy E. Garber, director of the Center for Cancer Genetics and Prevention at Dana-Farber, said many women have a love-hate relationship with hormone therapies.


“They don’t feel well on them, but it’s their safety net,” said Dr. Garber, who added that the news would be welcomed by many patients who would like to stay on the drug. “I have patients who agonize about this, people who are coming to the end of their tamoxifen.”


Emily Behrend, who is a few months from finishing her five years on tamoxifen, said she would definitely consider another five years. “If it can keep the cancer away, I’m all for it,” said Ms. Behrend, 39, a single mother in Tomball, Tex. She is taking the antidepressant Effexor to help control the night sweats and hot flashes caused by tamoxifen.


Cost is not considered a huge barrier to taking tamoxifen longer because the drug can be obtained for less than $200 a year.


The results, while answering one question, raise many new ones, including whether even more than 10 years of treatment would be better still.


Perhaps the most important question is what the results mean for postmenopausal women. Even many women who are premenopausal at the time of diagnosis will pass through menopause by the time they finish their first five years of tamoxifen, or will have been pushed into menopause by chemotherapy.


Postmenopausal patients tend to take aromatase inhibitors like anastrozole or letrozole, which are more effective than tamoxifen at preventing breast cancer recurrence, though they do not work for premenopausal women.


Mr. Peto said he thought the results of the Atlas study would “apply to endocrine therapy in general,” meaning that 10 years of an aromatase inhibitor would be better than five years. Other doctors were not so sure.


The Atlas study was paid for by various organizations including the United States Army, the British government and AstraZeneca, which makes the brand-name version of tamoxifen.


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Apple Will Bring Jobs Making PCS Back to the U.S.





Apple plans to join a small but growing number of companies that are bringing some manufacturing jobs back to the United States, drawn by the growing economic and political advantages of producing in their home market.







Kevork Djansezian/Getty Images

Timothy D. Cook, Apple's chief executive, introduced new products in October, including a thinner iMac.






On Thursday, Apple’s chief executive, Timothy D. Cook, who built its efficient Asian manufacturing network, said the company would invest $100 million in producing some of its Mac computers in the United States, beyond the assembly work it already does in the United States. He provided little detail about how the money would be spent or what kinds of workers might benefit.


Apple, which long manufactured parts in the United States but stopped about a decade ago, has been under pressure to create more jobs here given its market power. It sold 237 million iPods, iPads, Macs and other devices in the year ended in September.


“I don’t think we have a responsibility to create a certain kind of job,” Mr. Cook told Bloomberg Businessweek. “But I think we do have a responsibility to create jobs.”


Some analysts are hopeful that the move by a big, innovative company like Apple could inspire a broader renaissance in American manufacturing, but a number of experts remain skeptical.


“I find it hard to see how the supply chains that drive manufacturing are going to move back here,” said Andre Sharon, a professor at Boston University and director of the Fraunhofer Center for Manufacturing Innovation. “So much of the know-how has been lost to Asia, and there’s no compelling reason for it to return. It’s great when a company says they want to create American jobs — but it only really helps the country if those are jobs that belong here, if it starts a chain reaction or is part of a bigger economic shift.”


Over the last few years, companies across various industries, including electronics, automotive and medical devices, have announced that they are “reshoring” jobs after decades of shipping them abroad. Lower energy costs in America, rising wages in developing countries like China and Brazil, quality control issues and the desire to keep the supply chain close to the gigantic American consumer base have all factored into these decisions.


“Companies were going abroad in pursuit of cost reduction, and it turns out there were a lot of unintended costs,” said Diane Swonk, chief economist at Mesirow Financial. “America has been looking a lot more competitive lately.”


Even so, the impact on the American job market has been modest so far. Much of the work brought back has been high-value-added, automated production that requires few actual workers, which is part of the reason America’s higher wages are not scaring off companies.


American manufacturing has been growing in the last two years, but the sector still has two million fewer jobs than it had when the recession began in December 2007. Worldwide manufacturing appears to be growing much faster, even for many of the American-owned companies that are expanding at home. General Electric, for example, has hired American workers to build water heaters, refrigerators, dishwashers and high-efficiency topload washers, but continues to add more jobs overseas as well.


Apple has not announced plans to move the complex, faster-growing portions of its product lines. Macs now represent a relatively small portion of Apple’s business, accounting for less than 20 percent of its nearly $36 billion in revenue in its most recent quarter. The company’s iPad and iPhone products, which amount to nearly 70 percent of its sales, will continue to be made in low-cost centers of manufacturing like China, mostly on contract with outside companies like Foxconn.


Mr. Cook’s statements suggested Apple was planning to build more of the Mac’s components domestically, but with partners. He told Bloomberg Businessweek that the plan “doesn’t mean that Apple will do it ourselves, but we’ll be working with people, and we’ll be investing our money.”


Whether Apple’s newly announced plan might help create other higher-paying jobs along the supply line depends on the nature of the manufacturing.


Other computer manufacturing has been trickling back to the United States after largely shifting overseas in the 1990s.


Charles Duhigg and Quentin Hardy contributed reporting.



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Obama resolute in showdown with GOP over 'fiscal cliff'









WASHINGTON — President Obama brushed off the latest Republican gambit to gain leverage in averting the so-called fiscal cliff, bluntly telling business chief executives in a speech Wednesday, "I'm not going to play that game."


That flash of swagger reflects growing White House confidence about its position in the year-end showdown over scheduled spending cuts and tax increases. With less than a month to act and the wind of an electoral victory at their back, White House officials think they are boxing in Republicans.


The White House credits its strategy crafted from painful lessons of past go-rounds with the Republican-led House. Rather than engaging intensely with the GOP leadership in high-profile meetings, Obama has sought to isolate Republicans and pump up the pressure from all sides. He has picked a red line and is sticking to it. And now he's waiting.





"The only time these guys have ever moved on something is when they have felt the outside pressure," said an Obama advisor who requested anonymity to discuss strategy.


Both sides say they are working to defuse the scheme of tax increases and budget cuts they enacted to force themselves to reach a larger deficit reduction deal. Experts say that if nothing is done, the double blow could send the economy back into recession.


For now, though, the president has reason to be resolute, even as Republicans call on him to counter their latest offer.


Treasury Secretary Timothy F. Geithner underscored that position Wednesday in an interview on CNBC. The administration is "absolutely" ready to go over the "fiscal cliff" if Republicans refuse to raise tax rates on the wealthy, he said.


"There's no prospect in an agreement that doesn't involve those rates going up on the top 2% of the wealthiest Americans," he said.


Public polling shows a majority of Americans not only support the president's push to allow tax rates to rise on top earners but are prepared to hold the GOP responsible if negotiations fail. A new poll from the Washington Post and Pew Research Center found that 53% of Americans said Republicans should be blamed if there is no deal, compared with 27% who would blame the president.


Obama's stance has bred discord and frustration among Republicans on Capitol Hill who find themselves in the politically awkward position of threatening a tax increase for all to preserve lower taxes for the wealthy. Tension bubbled up this week as Republicans floated a new strategy that would involve reviving a threat to let the U.S. default on its debt payments.


Under that scenario, Republicans would agree to raise taxes on the wealthiest 2% of taxpayers, as the president has demanded, but would defer talks about a larger deficit reduction package until the new year, when Obama would need their votes to avoid a federal default on the debt. Republicans could then demand concessions on the federal budget in return for voting to raise the nation's debt limit.


"The debt ceiling is hanging out there, and the debt ceiling is the next point of leverage," said Rep. Steve King, a conservative Republican from Iowa. "The president does not fear the fiscal cliff. He's concerned about who's going to get the blame. But he doesn't fear the cliff."


A spokesman for House Speaker John A. Boehner (R-Ohio) also suggested that Republicans would try to extract spending cuts in return for a debt limit increase. "We agree there is no reason for drama surrounding a debt limit increase. All that is required is the president getting serious about spending cuts," said Boehner spokesman Brendan Buck.


In his CNBC interview, Geithner said the administration would insist that any agreement include an increase in the debt ceiling.


Obama and Boehner spoke on the phone Wednesday. Neither side disclosed details of the call.


Obama's strategy involves risks. His repeated attempts to bludgeon Republicans on taxes while offering no new concessions has engendered little goodwill, and he will need some Republican votes soon.


And his declaration that he won't play chicken with the vote to raise the debt ceiling? Though that is the tough talk that some Democrats have craved, it has little practical meaning. Unless Republicans agree to his request to largely cede authority to raise the limit, he will need Congress to do it.


For Obama, the lesson on how to gain and use leverage began with the summer of 2011, when a marathon of high-level bargaining sessions with Republicans failed to produce a grand bargain on the federal budget.


After that, Obama set out to negotiate on the campaign trail, announcing his terms publicly as he rallied people behind them.


The Obama team added social media campaigns and testimonials from middle-class Americans, and managed to pass an extension of the payroll tax break in February. That's when aides came to believe the president could shift the dynamic in talks with Capitol Hill.


Early signs are that the formula may be working again. The latest Twitter campaign has elicited more than 100,000 emails from people explaining how the middle-class tax increase would affect them.


And Obama's outreach to interested parties is showing progress. Business leaders are worrying openly about the uncertainty around the fiscal cliff and debt ceiling.


At the Business Roundtable on Wednesday, Boeing's chief executive introduced Obama by suggesting that business leaders could "serve a useful purpose in the dialogue."


To be sure, there's grousing about Obama's negotiating posture. Sen. Mitch McConnell (R-Ky.), the chamber's Republican leader, has complained that Obama is campaigning rather than working out the issues with his negotiating partners.


But the strategy is worth the aggravation, administration officials think. The president isn't avoiding private negotiations, but doesn't plan to start them until there is some movement.


"Once Republicans acknowledge that rates are going up for top earners," White House Press Secretary Jay Carney said, "we believe that an agreement is very achievable."


christi.parsons@latimes.com


kathleen.hennessey@latimes.com


Melanie Mason, Michael A. Memoli and Lisa Mascaro in the Washington bureau contributed to this report.





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Google Now Delivers Travel Forecasts, Boarding Passes Before You Search



Google’s Search App has received a travel-focused update just in time for the holidays. Wednesday’s update adds new capabilities to Google Now, the app’s feature set designed to deliver frequently searched-for information before you even think to search for it.


Previously, opening the Google Search App on any Android phone running Jelly Bean (versions 4.1 and newer), would pull up a Google Now card detailing the weather where you’re standing along with traffic routes to your home and office, sports scores, and package tracking info, among other things. The update adds into the mix new information centered around weather, plane flights and finding things to do in the new locale you’re visiting.


In the updated app, Google Now will still bubble up a card with local weather, but it will now also provide a card detailing the forecast for your upcoming destination about a day before you travel so you can pack and plan correctly. This can serve as a raincoat reminder for those headed to Seattle, or an alert for shorts if you’re vacationing in Melbourne, Australia.


If you’re flying for the holidays, the Search app will pull up a Google Now card with your boarding pass — if you’re flying United Airlines. Additional airlines will be added in coming weeks and months, said in Baris Gultekin, a Google Now product director. This feature, like all Google Now cards, requires a user’s permission to pull flight details from your Gmail account. If permission is granted, the app will serve up cards with restaurant and hotel reservations, translation help, and currency conversions too.


“Our goal is to figure out what the one thing you need right now is, and deliver that to you,” Gultekin told Wired. “A lot of our users need assistance the most when they’re traveling.”


With that in mind, Google Now also will provide suggestions on places to check out once you’ve reached your destination. The Search app already regularly offers recommendations on nearby restaurants and photo-worthy spots, but now it will list events taking place nearby and local websites that may be useful in figuring out what to do.


But not all the updates have to do with travel. The refresh also adds birthday reminders for those you’re connected to on Google+. And Google’s stellar voice assistant, also built into the Search app, received some new tricks today as well. Now, by speaking to the Google Search app, a user can post a text update to Google+, ask what song is playing in the background and launch a barcode scanner to retrieve product info while out shopping.


The updates hit the Google Search app today for Android owners — sorry iOS users.



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Brazilian architect Oscar Niemeyer dies, aged 104












RIO DE JANEIRO (Reuters) – Oscar Niemeyer, a towering patriarch of modern architecture who shaped the look of modern Brazil and whose inventive, curved designs left their mark on cities worldwide, died late on Wednesday. He was 104.


Niemeyer had been battling kidney ailments and pneumonia for nearly a month in a Rio de Janeiro hospital. His death was confirmed by a hospital spokesperson.












Starting in the 1930s, Niemeyer’s career spanned nine decades. His distinctive glass and white-concrete buildings include such landmarks as the United Nations Secretariat in New York, the Communist Party headquarters in Paris and the Roman Catholic Cathedral in Brasilia.


He won the 1988 Pritzker Architecture Prize, considered the “Nobel Prize of Architecture” for the Brasilia cathedral. Its “Crown of Thorns” cupola fills the church with light and a sense of soaring grandeur despite the fact that most of the building is underground.


It was one of dozens of public structures he designed for Brazil’s made-to-order capital, a city that helped define “space-age” style.


After flying over Niemeyer’s pod-like Congress, futuristic presidential palace and modular ministries in 1961, Yuri Gagarin, the Russian cosmonaut and first man in space, said “the impression was like arriving on another planet.”


In his home city of Rio de Janeiro, Niemeyer’s many projects include the “Sambadrome” stadium for Carnival parades. Perched across the bay from Rio is the “flying saucer” he designed for the Niteroi Museum of Contemporary Art.


The collection of government buildings in Brasilia, though, remain his most monumental and enduring achievement. Built from scratch in a wild and nearly uninhabited part of Brazil’s remote central plateau in just four years, it opened in 1960.


While the airplane-shaped city was planned and laid out by Niemeyer’s friend Lucio Costa, Niemeyer designed nearly every important government building in the city.


BECAME NATIONAL ICON


An ardent communist who continued working from his Copacabana beach penthouse apartment in Rio until days before his death, Niemeyer became a national icon ranking alongside Bossa Nova pioneer Tom Jobim and soccer legend Pelé.


His architecture, though, regularly trumped his politics.


Georges Pompidou, a right-wing Gaullist former French president, said Niemeyer’s design for the Communist Party of France headquarters in Paris “was the only good thing those commies ever did,” according to Niemeyer’s memoirs.


Prada, the fashion company known for providing expensive bags and wallets, thought the Communist Party building in Paris so cool it rented it for a fashion show.


Even the 1964-1985 Brazilian military government that forced Niemeyer into exile in the 1960s eventually found his buildings congenial to their dreams of making Brazil “the country of the future.”


His work is celebrated for innovative use of light and space, experimentation with reinforced concrete for aesthetic value and his self-described “architectural invention” style that produced buildings resembling abstract sculpture.


Initially influenced by the angular modernism of French-Swiss architect Le Cobusier, who worked with Niemeyer and Costa on a visit to Brazil in the 1930s, his style evolved toward rounded buildings that he said were inspired by the curves of Rio’s sunbathing women as well as beaches and verdant hills.


“That is the architecture I do, looking for new, different forms. Surprise is key in all art,” Niemeyer told Reuters in an interview in 2006. “The artistic capability of reinforced concrete is so fantastic – that is the way to go.”


Responding to criticism that his work was impractical and overly artistic, Niemeyer dismissed the idea that buildings’ design should reflect their function as a “ridiculous and irritating” architectural dogma.


“Whatever you think of his buildings, Niemeyer has stamped on the world a Brazilian style of architecture,” Dennis Sharp, a British architect and author of The Illustrated Encyclopedia of Architects and Architecture, once said of Niemeyer.


LIFELONG COMMUNIST


Niemeyer’s legacy is heavily associated with his communist views. He was a close friend of Cuba’s revolutionary leader Fidel Castro and an enemy of Brazil’s 21-year military dictatorship.


“There are only two communists left in the world, Niemeyer and myself,” Castro once joked.


Niemeyer remained politically active after returning to Brazil, taking up the cause of a militant and sometimes violent movement of landless peasants. He said in 2010 that he was a great admirer of Luiz Inacio Lula da Silva, the former labor leader who was Brazil’s president from 2003 to 2010.


Niemeyer once built a house in a Rio slum for his former driver and gave apartments and offices as presents to others.


Despite his egalitarian views, Niemeyer had no illusions that his buildings were helping to improve social justice.


Far from the model city Niemeyer had envisioned, Brasilia today is in many ways the epitome of inequality. Planned for 500,000 people, the city is now home to more than 2.5 million and VIPs keep to themselves in fenced-in villas while the poor live in distant satellite towns.


“It seemed like a new era was coming, but Brazil is the same crap – a country of the very poor and the very rich,” he said in another Reuters interview in 2001.


In a 2010 interview in his office, he was quick to blame Costa for things many dislike about Brasilia, such as its rigid ordering into homogenous “hotel,” “government,” “residential” and even “mansion” and “media” districts that can make finding a newspaper or groceries a chore.


“I just did the buildings,” he said. “All that other stuff was Costa.”


Despite Niemeyer’s atheism, one of his first significant early works was a church built in homage to St. Francis, part of a complex of modern buildings in Belo Horizonte, Brazil.


That work won the confidence of the city’s mayor Juscelino Kubitschek. When he became president, he tapped Niemeyer to help realize the dream of opening up Brazil’s interior by moving the capital from coastal Rio to the empty plains of central Brazil.


Despite years of bohemian living, Niemeyer remained married for 76 years to Annita Baldo, his first wife. He married his second wife, long-time aide Vera Lucia Cabreira, in 2006 at the age of 99. She survives him, as do four grandchildren.


Niemeyer’s only daughter, an architect, designer and gallery owner, Anna Maria, died on June 6 at the age of 82.


(Additional reporting by Brian Ellsworth; Editing by Todd Benson and Kieran Murray)


Celebrity News Headlines – Yahoo! News


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Extended Use of Breast Cancer Drug Suggested


The widely prescribed drug tamoxifen already plays a major role in reducing the risk of death from breast cancer. But a new study suggests that women should be taking the drug for twice as long as is now customary, a finding that could upend the standard that has been in place for about 15 years.


In the study, patients who continued taking tamoxifen for 10 years were less likely to have the cancer come back or to die from the disease than women who took the drug for only five years, the current standard of care.


“Certainly, the advice to stop in five years should not stand,” said Prof. Richard Peto, a medical statistician at Oxford University and senior author of the study, which was published in The Lancet on Wednesday and presented at the San Antonio Breast Cancer Symposium.


Breast cancer specialists not involved in the study said the results could have the biggest impact on premenopausal women, who account for a fifth to a quarter of new breast cancer cases. Postmenopausal women tend to take different drugs, but some experts said the results suggest that those drugs might be taken for a longer duration as well.


“We’ve been waiting for this result,” said Dr. Robert W. Carlson, a professor of medicine at Stanford University. “I think it is especially practice-changing in premenopausal women because the results do favor a 10-year regimen.”


Dr. Eric P. Winer, chief of women’s cancers at the Dana-Farber Cancer Institute in Boston, said that even women who completed their five years of tamoxifen months or years ago might consider starting on the drug again.


Tamoxifen blocks the effect of the hormone estrogen, which fuels tumor growth in estrogen receptor-positive cancers that account for about 65 percent of cases in premenopausal women. Some small studies in the 1990s suggested that there was no benefit to using tamoxifen longer than five years, so that has been the standard.


About 227,000 cases of breast cancer are diagnosed each year in the United States, and an estimated 30,000 of them are in premenopausal women with estrogen receptor-positive cancer and prime candidates for tamoxifen. But postmenopausal women also take tamoxifen if they cannot tolerate the alternative drugs, known as aromatase inhibitors.


The new study, known as Atlas, included nearly 7,000 women with ER-positive disease who had completed five years of tamoxifen. They came from about three dozen countries. Half were chosen at random to take the drug another five years, while the others were told to stop.


In the group assigned to take tamoxifen for 10 years, 21.4 percent had a recurrence of breast cancer in the ensuing 10 years, meaning the period 5 to 14 years after their diagnoses. The recurrence rate for those who took only five years of tamoxifen was 25.1 percent.


About 12.2 percent of those in the 10-year treatment group died from breast cancer, compared with 15 percent for those in the control group.


There was virtually no difference in death and recurrence between the two groups during the five years of extra tamoxifen. The difference came in later years, suggesting that tamoxifen has a carry-over effect that lasts long after women stop taking it.


Whether these differences are big enough to cause women to take the drug for twice as long remains to be seen.


“The treatment effect is real, but it’s modest,” said Dr. Paul E. Goss, director of breast cancer research at the Massachusetts General Hospital.


Tamoxifen has side effects, including endometrial cancer, blood clots and hot flashes, which cause many women to stop taking the drug. In the Atlas trial, it appears that roughly 40 percent of the patients assigned to take tamoxifen for the additional five years stopped prematurely.


Some 3.1 percent of those taking the extra five years of tamoxifen got endometrial cancer versus 1.6 percent in the control group. However, only 0.6 percent of those in the longer treatment group died from endometrial cancer or pulmonary blood clots, compared with 0.4 percent in the control group.


“Over all, the benefits of extended tamoxifen seemed to outweigh the risks substantially,” Trevor J. Powles of the Cancer Center London, said in a commentary published by The Lancet.


Dr. Judy E. Garber, director of the Center for Cancer Genetics and Prevention at Dana-Farber, said many women have a love-hate relationship with hormone therapies.


“They don’t feel well on them, but it’s their safety net,” said Dr. Garber, who added that the news would be welcomed by many patients who would like to stay on the drug. “I have patients who agonize about this, people who are coming to the end of their tamoxifen.”


Emily Behrend, who is a few months from finishing her five years on tamoxifen, said she would definitely consider another five years. “If it can keep the cancer away, I’m all for it,” said Ms. Behrend, 39, a single mother in Tomball, Tex. She is taking the antidepressant Effexor to help control the night sweats and hot flashes caused by tamoxifen.


Cost is not considered a huge barrier to taking tamoxifen longer because the drug can be obtained for less than $200 a year.


The results, while answering one question, raise many new ones, including whether even more than 10 years of treatment would be better still.


Perhaps the most important question is what the results mean for postmenopausal women. Even many women who are premenopausal at the time of diagnosis will pass through menopause by the time they finish their first five years of tamoxifen, or will have been pushed into menopause by chemotherapy.


Postmenopausal patients tend to take aromatase inhibitors like anastrozole or letrozole, which are more effective than tamoxifen at preventing breast cancer recurrence, though they do not work for premenopausal women.


Mr. Peto said he thought the results of the Atlas study would “apply to endocrine therapy in general,” meaning that 10 years of an aromatase inhibitor would be better than five years. Other doctors were not so sure.


The Atlas study was paid for by various organizations including the United States Army, the British government and AstraZeneca, which makes the brand-name version of tamoxifen.


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