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Business - BostonHerald.com

Written By Unknown on Sabtu, 01 Desember 2012 | 22.26

Business - BostonHerald.comBusiness - BostonHerald.com

http://www.bostonherald.com/business/?srvc=rss The Boston Herald online: The closest distance between you and the news en-us Copyright 2012, Herald Interactive, Inc. Sat, 01 Dec 2012 10:22:07 -0500 systems@heraldinteractive.com (Web Developers) 120 http://cache.heraldinteractive.com/images/siteImages/rss_logo.jpg http://www.bostonherald.com/business/?srvc=rss 100 48 The Boston Herald online: The closest distance between you and the news http://www.bostonherald.com/business/general/view.bg?articleid=1061178657&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061178657&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061178657&srvc=rss Several New England college students have received research fellowships from the U.S. Environmental Protection... business Sat, 01 Dec 2012 10:14:44 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061178567&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061178567&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061178567&srvc=rss Staples is getting into the three-dimensional printing business. The Framingham office products retailer has... business Sat, 01 Dec 2012 09:14:54 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061178572&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061178572&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061178572&srvc=rss A Cambridge real estate developer's bet on an Everett industrial site could pay off big if Las Vegas tycoon Steve... business Sat, 01 Dec 2012 09:14:05 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061178585&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061178585&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061178585&srvc=rss The U.S. trustee overseeing the Upper Crust pizza chain's bankruptcy case wants the court to order the owners to... business Sat, 01 Dec 2012 05:56:25 -0500 http://www.bostonherald.com/business/technology/general/view.bg?articleid=1061178145&srvc=rss http://www.bostonherald.com/business/technology/general/view.bg?articleid=1061178145&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/technology/general/view.bg?articleid=1061178145&srvc=rss In an epic Facebook meltdown, the owner of one of the Hub's fanciest French dining destinations went schoolyard... business Sat, 01 Dec 2012 01:27:44 -0500 http://www.bostonherald.com/business/real_estate/view.bg?articleid=1061178563&srvc=rss http://www.bostonherald.com/business/real_estate/view.bg?articleid=1061178563&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/real_estate/view.bg?articleid=1061178563&srvc=rss This just-built townhouse in Jamaica Plain is one of six units in three architect-designed duplex buildings off... business Fri, 30 Nov 2012 23:31:51 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061178527&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061178527&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061178527&srvc=rss Mathew Martoma knew from an early age he wanted to blend his interests in health care, business and law into a... business Fri, 30 Nov 2012 22:22:00 -0500 http://www.bostonherald.com/business/technology/general/view.bg?articleid=1061178587&srvc=rss http://www.bostonherald.com/business/technology/general/view.bg?articleid=1061178587&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/technology/general/view.bg?articleid=1061178587&srvc=rss On her daily bicycle rides to and from the MIT Media Lab's Information Ecology Group where she is a research assistant,... business Fri, 30 Nov 2012 22:07:34 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061178589&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061178589&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061178589&srvc=rss Dollar bill endangered? Congressional auditors say doing away with dollar bills entirely and replacing them... business Fri, 30 Nov 2012 21:58:45 -0500 http://www.bostonherald.com/business/automotive/view.bg?articleid=1061178562&srvc=rss http://www.bostonherald.com/business/automotive/view.bg?articleid=1061178562&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/automotive/view.bg?articleid=1061178562&srvc=rss Despite being one of the best sellers in the crossover class and having the gravitas of 11 production years... business Fri, 30 Nov 2012 21:12:53 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061178540&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061178540&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061178540&srvc=rss A Canadian man was charged yesterday with using kickbacks in order to trigger investments in two lightly traded... business Fri, 30 Nov 2012 17:44:08 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061178541&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061178541&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061178541&srvc=rss WASHINGTON - Health insurance companies will have to pay to play in new health insurance markets coming under President... business Fri, 30 Nov 2012 17:43:39 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061178501&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061178501&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061178501&srvc=rss A Newton man was ordered to pay $700,000 and received a suspended jail sentence for paying kickbacks to workers... business Fri, 30 Nov 2012 17:31:55 -0500 http://www.bostonherald.com/business/media/view.bg?articleid=1061178538&srvc=rss http://www.bostonherald.com/business/media/view.bg?articleid=1061178538&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/media/view.bg?articleid=1061178538&srvc=rss Emanate, a midsize marketing communications company, said today it has opened an office at Atlantic Wharf in downtown... business Fri, 30 Nov 2012 17:30:04 -0500 http://www.bostonherald.com/business/automotive/view.bg?articleid=1061178534&srvc=rss http://www.bostonherald.com/business/automotive/view.bg?articleid=1061178534&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/automotive/view.bg?articleid=1061178534&srvc=rss DETROIT - Ford is recalling more than 89,000 new Escape SUVs and Fusion sedans because the engines can overheat... business Fri, 30 Nov 2012 17:15:31 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061178531&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061178531&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061178531&srvc=rss One of the three companies that had been pursuing a casino license in Springfield is dropping out of the race. Ameristar... business Fri, 30 Nov 2012 17:08:53 -0500 http://www.bostonherald.com/business/healthcare/view.bg?articleid=1061178514&srvc=rss http://www.bostonherald.com/business/healthcare/view.bg?articleid=1061178514&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/healthcare/view.bg?articleid=1061178514&srvc=rss Partners HealthCare and its founding hospitals, Brigham and Women's Hospital and Massachusetts General Hospital,... business Fri, 30 Nov 2012 14:32:26 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061178512&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061178512&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061178512&srvc=rss The Wilcox Hospitality Group said it's bringing a new restaurant to the South End tomorrow designed to embody a... business Fri, 30 Nov 2012 14:31:26 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061178507&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061178507&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061178507&srvc=rss PROVIDENCE, R.I. - The federal government says it plans to sell leases for wind farms off the coasts of Rhode... business Fri, 30 Nov 2012 13:50:43 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061178502&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061178502&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061178502&srvc=rss A Swampscott demolition company has been ordered to pay the Commonwealth $100,000 in civil penalties for the alleged... business Fri, 30 Nov 2012 12:45:50 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061178498&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061178498&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061178498&srvc=rss WASHINGTON - American consumers have shown about as much appetite for the $1 coin as kids do their spinach. They... business Fri, 30 Nov 2012 12:21:40 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061178370&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061178370&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061178370&srvc=rss Bay State business leaders remain confident a "fiscal cliff" compromise will be achieved, yet many don't expect... business Fri, 30 Nov 2012 11:58:37 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061178491&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061178491&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061178491&srvc=rss The U.S. Department of Labor has filed a lawsuit against Chelsea business Boston Hides & Furs Ltd. and company... business Fri, 30 Nov 2012 11:54:46 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061178488&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061178488&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061178488&srvc=rss NeuroMetrix Inc., a Waltham-based medical device company focused on the diagnosis and treatment of the neurological... business Fri, 30 Nov 2012 11:51:02 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061178490&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061178490&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061178490&srvc=rss When it comes to the 100 largest companies in Massachusetts, women now hold 12.7 percent of board seats, an increase... business Fri, 30 Nov 2012 11:39:54 -0500

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What $300G buys

Written By Unknown on Jumat, 30 November 2012 | 22.26

Here are five examples of what $300,000 can buy you across the state:

Just a short walk from the water, 38 Bowes Ave. in Quincy is a two-bedroom, ranch-style home listed by Marla Osborne of Coldwell Banker Residential Brokerage.

The property was built in 1956, but has been updated with new bathrooms and a new kitchen with ceramic tile flooring, granite counter tops and stainless appliances.

Also included in the 1,261 square feet is a large living room with fireplace and bay window.

The basement is carpeted and includes a family room with a bar, laundry, full bath and space for an office or additional bedroom.

There is a sun room in the rear of the house that looks out to the fenced-in back yard.

Unit 107D at the Powder Mill Square Condos in Andover is a one-bedroom, one-and-a-half bath open plan home with two parking spaces.

There is a spiral staircase leading to the bedroom as well as exposed brick walls, high ceilings, wood posts and rugged exposed beams.

There is a contemporary kitchen with birch cabinets, stainless steel appliances and granite counters.

The monthly condo fee of $392 includes water, sewer, master insurance, elevator, exterior maintenance, landscaping, and snow removal and exercise room.

Built in 1912 and converted to condos in 2006, the development has 60 residences.

The 1,250-square-foot home, close to the commuter rail, is listed by Silvija Aprans of Home Sellers Edge.

Nestled in a Victorian-style home in the Neponset neighborhood of Dorchester at 582 Freeport St. is the Unit 1 condo.

Converted to condominiums in 2005, the building has three units, all with private storage in the basement.

Listed by Jason G. Mahoney of Vitruvius Realty, the two-bedroom, two-bath, 1,078-square-foot home has an open floor plan, hardwood floors, central air and an in-unit washer and dryer.

The kitchen features cherry cabinets with stainless steel appliances and granite counters.

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Biz leaders foresee cliff-hanger

Bay State business leaders remain confident a "fiscal cliff" compromise will be achieved, yet many don't expect real progress by congressional leaders until days before the year-end deadline.

"You're playing Russian roulette right now and I think the stock market will reflect the poor behavior in the last week-and-a-half, two weeks in December," said John Fish, CEO of Boston's Suffolk Construction. "I hope it doesn't come to that, but unfortunately I think it will."

Talks between Democrats and Republicans over how to avoid the fiscal cliff's automatic tax increases and spending cuts ended in partisan bickering yesterday. House Speaker John Boehner declaring "no substantive progress has been made" with the White House, while Senate Majority Leader Harry Reid said he's "still waiting for a serious offer from Republicans."

Thomas Glynn, head of the Massachusetts Port Authority, said he had more confidence a compromise could be reached "10 days ago."

"It's just like labor negotiations — until it's 48 hours out, it doesn't get serious," Glynn said, adding that the agency could lose funding from the Federal Aviation Administration for future construction projects if the nation goes over the cliff.

Andrew Dreyfus, CEO of Blue Cross Blue Shield of Massachusetts, expressed similar concerns regarding federal funding for both health care and life sciences.

"If those were put at risk, it could have a substantial impact on jobs and on the ability of the local economy to grow," Dreyfus said.

Mike Sheehan, CEO of Hub advertising agency Hill Holliday, said a compromise would be reached by year's end, but it would not be permanent.

"We represent a ton of clients in the consumer space and it'll affect everybody," he said. "There isn't a business that we work with that ... wouldn't be affected by this no matter what, whether it's solved or not solved."

Richard Holbrook, CEO of Eastern Bank, said uncertainty over the issue is "the biggest cliff we face," adding the nation could stumble back into a recession if a budget deal is not reached in Washington.

"Many folks will suffer in a slower-growth economy, banks among them," he said. "If we do go over the cliff, my personal belief is that it will be short-lived before the next Congress starts to address some of the issues."

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Starbucks $7 cup of Joe's jolting

How deep are coffee lovers willing to dig for a cup?

Starbucks is pushing the limit with the latest offering from its "Reserve" line of premium coffee. A 16-ounce "grande" cup of its Costa Rica Finca Palmilera is selling for $7.

The Seattle java giant attributes the jolting price to the rarity of the Geisha coffee, a naturally low-yielding, heirloom varietal that only grows at extremely high altitudes.

"This price is based on limited availability and appeals to a particular audience, like one who loves sampling boutique wines that are available in limited quantities," spokeswoman Alisa Martinez said.

The coffee is only being sold in 46 Starbucks in Seattle and Portland, Ore. Good thing, because bean-heads in South Boston's Seaport District roasted the new offering yesterday.

"It's ridiculous," said Vanessa Eusse of Everett, a 23-year-old restaurant server and self-described Starbucks fanatic who prefers lattes. "That's way too much — unless it had little pieces of gold in it."

If someone wants to pay $7 for a coffee, that's their prerogative, but don't count in lawyer Erik Weibust. "I don't like coffee that much," he said.

Starbucks says coffee connoisseurs will appreciate the intense flavors of Finca Palmilera, whose half-pound bags go for $40.

"A trained nose and palate will pick up delicate floral aromas, flavors of white peach and pineapple, and a juicy herbal complexity," Martinez said.

There's a good market for premium products in almost every retail category, according to Ron Paul, president of Technomic, a food industry research and consulting firm in Chicago.

"Maybe they'll put it in a special cup, so when you're walking down the street, people will say, 'Hey, there's someone who really knows premium coffee,' " he quipped.

But Melvin Gonzales' eyes widened in disbelief at such a costly cup of Joe.

"Why buy a $7 coffee, when McDonald's got it for a dollar?" said Gonzales, who works for a refrigeration company.

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Chevrolet unveils 2013 Sprint Cup car

LAS VEGAS — Chevrolet unveiled its 2013 NASCAR Sprint Cup car Thursday.

The matching Chevrolet SS passenger car, a new rear-wheel drive vehicle that will be available in showrooms in August, will be unveiled in February around the season-opening Daytona 500, when it will debut on the track.

"As a passionate race fan, the debut of the SS NASCAR race car is a genuinely exciting moment for me," GM North America President Mark Reuss said. "With the SS, Chevrolet is delivering a true rear-wheel-drive NASCAR race car that is very closely linked to the performance sedan that will be available for sale, ensuring that our most loyal enthusiasts will have the opportunity to experience the same thrill every day on the open road that our race car drivers enjoy on the track on race day."

The Chevrolet SS replaces the Impala, which won 152 races from 1959-64 and 2007-12.

"The new SS looks awesome. That's the great thing, it's back to looking like a production car again," three-time champion Tony Stewart said. "It's a design that I really like. It's got the perfect blend of having a race car look, but a street car look at the same time, and that's hard to do. No matter what you're a fan of, you're going to be able to pick out your favorite brand of car and see it from the stands."

The Chevrolet passenger car will be built in Australia and sold in the U.S. It's the first time in 17 years that Chevrolet will offer a rear-wheel-drive sedan in the U.S., and Chevy will rely on the engineering, technology and infrastructure used to build the Holden Commodore in Australia to build the SS.

Chevrolet officials used the events surrounding NASCAR's season-ending awards ceremony to unveil the car, and had several of its drivers and team owners on hand with their 2013 cars.

NASCAR has allowed its three manufacturers to redesign its 2013 cars to more closely resemble production cars.

"I think it's one of the most important moves that NASCAR and the manufacturers have made in a very long time," Chevy driver Kevin Harvick said. "Just for the fact that the cars on the race track will be very significant in looking like the cars on the showroom floor. I think from a manufacturer's standpoint it's probably the most important move that has happened in a really long time. For the fans to have that relevance from the race track to the showroom is important."

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Sandy slowed US consumer spending and pay in October

WASHINGTON — Americans cut back on spending last month while their income remained flat. The weakness in part reflected disruptions from Superstorm Sandy that could slow economic growth for the rest of the year.

The Commerce Department said Friday that consumer spending dropped 0.2 percent in October. It was the weakest figure since May, and it compared with a 0.8 percent spending increase in September.

Income had risen 0.4 percent in September.

Work interruptions caused by the storm reduced wages and salaries in October by about $18 billion at an annual rate, the government said. The storm affected 24 states, with the most severe damage in New York and New Jersey.

Consumers may also be scaling back on spending because of fears about the "fiscal cliff." That's the name for automatic tax increases and spending cuts that will take effect in January if Congress and the Obama administration fail to strike a budget deal by then.

"The upshot is that although both incomes and spending will probably bounce back in November, the underlying trend is weak," said Paul Dales, senior U.S. economist at Capital Economics.

The depressed spending figures suggest that the economy is growing more slowly in the October-December quarter than it did in the July-September quarter. Consumer spending drives nearly 70 percent of economic activity.

Dales predicts U.S. economic growth will tumble from the 2.7 percent annual rate in the July-September quarter to a weak 1 percent in the October-December period. That's too low to lower the unemployment rate, now at 7.9 percent.

Even discounting the effects of Sandy, income and spending gains would have been meager. Income would have risen a still-weak 0.1 percent. Spending would have been essentially flat.

After-tax income adjusted for inflation fell 0.1 percent in October. And spending, when adjusted for inflation, dropped 0.3 percent — the biggest such decline in three years.

The saving rate edged up slightly to 3.4 percent of after-tax income in October, compared with 3.3 percent in September.

Many economists say growth will rebound in the New Year once the rebuilding phase begins in the Northeast.

And if President Barack Obama and Congress can reach a budget deal to avert to fiscal cliff, some economists, including Federal Reserve Chairman Ben Bernanke, are predicting a strong year for the economy.

Still, the storm's impact has slowed sales in the nation's most densely populated region ahead of the crucial holiday shopping season.

The International Council of Shopping Centers said 18 major retailers reported sales rose 1.7 percent in November compared with the same period a year ago. The group had been expecting sales growth between 4.5 percent and 5.5 percent.

The economic damage from the storm may be starting to fade, though. Retailers are reporting solid sales over the Thanksgiving Day holiday weekend.

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A chef's surprise lights up web

Written By Unknown on Kamis, 29 November 2012 | 22.26

In an epic Facebook meltdown, the owner of one of the Hub's fanciest French dining destinations went schoolyard crazy on a woman who dissed his pumpkin pie, calling her "fat," "uneducated" and "unintelligent" in a series of expletive-laced and misspelled rants.

But no one, especially Pigalle Chef/Owner Marc Orfaly, came out smelling like a rose in this Facebook fable, a lesson in what-not-to-do for business owners and patrons alike.

The mess began on Thanksgiving when Sandy Tremblay of Nashua had a disappointing dining experience at Pigalle. But rather than complaining at the restaurant, she took to Pigalle's Facebook page, days later, to angrily claim her pumpkin pie tasted like "vomit." "Thanks for ruining my Thanksgiving!" she wrote.

What followed were a series of bombs from Orfaly: "hey sandy ,(sic) go (expletive) your self(sic)!" he said, as well as: "you must enjoy vomit you (expletive) if you know how much it tastes like."

The rants didn't end there. Hours later, Orfaly posted an open letter to patrons directing them to air any grievances while at his restaurant, slamming Tremblay as "uneducated, unintelligent" and "unpolished."

Orfaly later deleted his attacks, but they had already gone viral, sparking backlash from aghast patrons.

Tremblay was panned as well. Let's face it, she sat around angry about pumpkin pie for five days. Then she bashed Pigalle on a public Facebook page rather than trying one of the many constructive options at her disposal.

For his part, Orfaly issued a public apology — only after the news of his rants was broken by the Boston Eater blog.

But the way this story ends is even more bizarre. Orfaly called Tremblay yesterday afternoon to apologize. And now, in this incongruous social media world we live in, the two are Facebook friends — and Tremblay is sending business Orfaly's way.

"So all of you that have made comments good or bad I would strongly recommend checking out Pigalles (sic)," Tremblay wrote. "You might want to make reservations weeks in advance because as the saying goes, even bad publicity is good!"

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Obama aide: Immigration 'broken'

A top Obama administration official said the president remains committed to immigration reform and called the current practice of forcing immigrant entrepreneurs educated at top American universities to set up shop in other countries a "broken system."

"He's spoken of the fact that people all over the world come here to become educated, and then after we have educated them, they want to take that education and apply it here in the United States, and yet we make it difficult for them to remain here," Alejandro Mayorkas, Obama's director of citizenship and immigration services, told the Herald. "We ... often push them back to the countries of their origin to compete against us. And that is a broken system."

The timing of reform and exactly what it would look like, however, are up to Congress, he said, noting that for the second time in as many months, House Republicans are expected to try to win approval today of a bill to issue up to 55,000 science, technology, engineering and math visas to students who earn advanced degrees at U.S. universities.

At a panel discussion yesterday at the Massachusetts Institute of Technology, Mayorkas, who came to the United States as a political refugee from Cuba, heard from dozens of students and alumni who were accepted into one of the world's most prestigious universities, only to encounter obstacles later when they tried to start a job-creating business of their own.

When Bill Aulet, managing director of the Martin Trust Center for MIT Entrepreneurship, asked the hundreds who attended how many of them were born outside the United States and have no clear path to stay, about half raised their hands.

"That's a shame," Aulet said. "That's the best and the brightest."

By contrast, Mayorkas said, the Chilean government has launched Startup Chile to attract world-class, early-stage entrepreneurs to start their businesses there.

Mayorkas said his office has taken steps to keep pace with the changing business landscape, including recruiting established entrepreneurs to help train a team of specialized immigration officers to handle entrepreneur and startup cases and launching an online resource center, Entrepreneur Pathways, to help those who want to start a business in the United States navigate the immigration process.

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Hostess to seek approval for executive bonuses

NEW YORK — Hostess Brands Inc. plans to ask for a judge's approval Thursday to give its top executives bonuses totaling up to $1.8 million as part of its wind-down plans.

The maker of Twinkies, Ding Dongs and Ho Hos says the incentive pay is needed to retain the 19 managers during the liquidation process, which could take about a year. Two of those executives would be eligible for additional rewards depending on how efficiently they carry out the liquidation.

Hostess is also seeking final approval for its wind-down, which was approved on an interim basis last week.

The process includes the quick sale of its brands, which also include Wonder Bread. Hostess says it has received a flood of interest in the brands.

The company's bankruptcy means loss of about 18,000 jobs.

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Applications for US jobless aid fall to 393,000

WASHINGTON — The number of Americans seeking unemployment benefits fell 23,000 to a seasonally adjusted 393,000 last week. It was the second straight drop after Superstorm Sandy had driven applications much higher earlier this month.

A Labor Department analyst said Thursday that the storm had little effect on last week's data. Applications had spiked to 451,000 three weeks ago after Sandy battered the East Coast, closing businesses in the Northeast and cutting off power to 8 million homes in 10 states.

People can claim unemployment benefits if their workplaces are forced to close and they aren't paid.

The four-week average of applications, a less volatile measure, rose to 405,250 last week. That figure has been elevated by the storm.

Superstorm Sandy made landfall on Oct. 29. The government reported last week that the storm caused benefit applications to jump by 75,000 in just New York and New Jersey in the week that ended Nov. 10. Applications also rose in Connecticut in Pennsylvania because of Sandy.

Before the storm, weekly applications had fluctuated this year between 360,000 and 390,000. Meanwhile, employers have added an average of nearly 157,000 jobs a month. That's barely enough to lower the unemployment rate, which was 7.9 percent in October.

There are some signs that the job market is improving. Employers added 171,000 jobs in October, a step up from September's gain of 148,000. Hiring in August and September was also stronger than first estimated.

The economy gained an average of 174,000 jobs a month in the July-September quarter. That's up from 67,000 a month in April through June.

The unemployment rate rose slightly in October because more Americans began looking for work. That suggests some felt their chances of finding a job had improved. Not all of them were hired, which pushed up the unemployment rate. The government only counts people as unemployed if they are actively searching for work.

Superstorm Sandy may also slow growth in the current October-December quarter. Economists forecast that growth may drop to an annual rate below 2 percent in the final three months of the year. On Thursday, the government revised its estimate of third-quarter growth to 2.7 percent, from an original estimate of 2 percent.

Concerns about the "fiscal cliff," the package of tax increases and spending cuts scheduled to take effect early next year, may also drag on growth in the current quarter. But if Congress and the White House reach a deal to replace the fiscal cliff, growth could accelerate next year.

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US economy grew at 2.7 percent rate in summer

WASHINGTON — The U.S. economy grew at a 2.7 percent annual rate from July through September, much faster than first thought. The strength may fade in the final months of the year if Congress and the Obama administration fail to reach a budget deal.

The Commerce Department said Thursday that growth in the third quarter was significantly better than the 2 percent rate estimated a month ago. And it was more than twice the 1.3 percent rate reported for the April-June quarter.

The two biggest factors in the upward revision were larger gains in business stockpiles and a boost in export sales. That offset weaker consumer spending.

Still, most economists say growth has slowed since then to below 2 percent in the October-December quarter. That's generally considered too weak to rapidly lower the unemployment rate.

Economists cite two reasons for the anticipated weakness.

Superstorm Sandy halted business activity along the East Coast in late October and November. And many businesses and consumers could end up scaling back on spending in the final weeks of the year, if lawmakers and Obama fail to avert the "fiscal cliff." That's the name for sharp tax increases and spending cuts that would occur in January without a deal.

So far, many reports suggest economic activity picked up early in the fourth quarter. And if Congress and the White House reach agreement and avoid the fiscal cliff, economic growth could accelerate next year, many economists say.

A Federal Reserve survey released Tuesday showed improved consumer spending and steady home sales helped lift growth from October through early November in most parts of the United States. The one exception was the Northeast, where the storm led to widespread disruptions.

The Labor Department said employers added 171,000 jobs last month and hiring in September and August was stronger than previously thought.

Rising home values, more hiring and lower gas prices pushed consumer confidence in November to the highest level in nearly five years, according to the Conference Board.

A better mood among consumers appears to have encouraged businesses to invest more in October after pulling back over the summer.

There are already signs that consumer optimism is leading to more spending. A record number of Americans visited stores and shopping websites over the four-day Thanksgiving weekend, according to a survey by the National Retail Federation.

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Business - BostonHerald.com

Written By Unknown on Rabu, 28 November 2012 | 22.26

Business - BostonHerald.comBusiness - BostonHerald.com

http://www.bostonherald.com/business/?srvc=rss The Boston Herald online: The closest distance between you and the news en-us Copyright 2012, Herald Interactive, Inc. Wed, 28 Nov 2012 10:22:03 -0500 systems@heraldinteractive.com (Web Developers) 120 http://cache.heraldinteractive.com/images/siteImages/rss_logo.jpg http://www.bostonherald.com/business/?srvc=rss 100 48 The Boston Herald online: The closest distance between you and the news http://www.bostonherald.com/business/media/view.bg?articleid=1061177803&srvc=rss http://www.bostonherald.com/business/media/view.bg?articleid=1061177803&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/media/view.bg?articleid=1061177803&srvc=rss MIT Media Lab director Joi Ito and famed filmmaker J.J. Abrams experienced what you might call a Vulcan mind... business Wed, 28 Nov 2012 10:00:42 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061177951&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061177951&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061177951&srvc=rss NEW YORK - Stocks are opening lower on Wall Street. Investors are still waiting for signs of progress on the "fiscal... business Wed, 28 Nov 2012 09:52:52 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061177878&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061177878&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061177878&srvc=rss DHAKA, Bangladesh - Amid the ash, broken glass and melted sewing machines at what is left of the Tazreen Fashions... business Wed, 28 Nov 2012 09:44:37 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061177960&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061177960&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061177960&srvc=rss WASHINGTON - BP is being temporarily suspended from new contracts with the U.S. government, the Environmental... business Wed, 28 Nov 2012 09:32:57 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061177956&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061177956&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061177956&srvc=rss WASHINGTON - The head of the financially struggling U.S. Postal Service says the agency must be allowed to ease... business Wed, 28 Nov 2012 09:11:01 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061177949&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061177949&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061177949&srvc=rss MADRID - European Union authorities have approved the payment of â‚¬37 billion ($47.96 billion) in bailout loans... business Wed, 28 Nov 2012 08:50:42 -0500 http://www.bostonherald.com/business/media/view.bg?articleid=1061177943&srvc=rss http://www.bostonherald.com/business/media/view.bg?articleid=1061177943&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/media/view.bg?articleid=1061177943&srvc=rss MIAMI - LeBron James is atop the NBA's jersey-sales list once again. The Miami Heat star has the league's hottest-selling... business Wed, 28 Nov 2012 08:20:51 -0500 http://www.bostonherald.com/business/automotive/view.bg?articleid=1061177929&srvc=rss http://www.bostonherald.com/business/automotive/view.bg?articleid=1061177929&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/automotive/view.bg?articleid=1061177929&srvc=rss DETROIT - The Fiat 500 is getting bigger and going electric. Two new versions of the Italian-styled mini-car... business Wed, 28 Nov 2012 06:51:31 -0500 http://www.bostonherald.com/business/media/view.bg?articleid=1061177890&srvc=rss http://www.bostonherald.com/business/media/view.bg?articleid=1061177890&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/media/view.bg?articleid=1061177890&srvc=rss NEW YORK -- Two football games that showed the widely divergent paths of New York's pro football teams boosted... business Wed, 28 Nov 2012 04:35:35 -0500 http://www.bostonherald.com/business/media/view.bg?articleid=1061177886&srvc=rss http://www.bostonherald.com/business/media/view.bg?articleid=1061177886&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/media/view.bg?articleid=1061177886&srvc=rss WASHINGTON - The Newseum in Washington will mark the 50th anniversary of the assassination of President John F.... business Wed, 28 Nov 2012 04:08:09 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061177885&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061177885&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061177885&srvc=rss CAMBRIDGE -- The Obama administration's top immigration official is visiting the Massachusetts Institute of Technology... business Wed, 28 Nov 2012 04:05:03 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061177882&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061177882&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061177882&srvc=rss A popular program that allows some commuter rail customers to purchase and display tickets on their smartphones... business Wed, 28 Nov 2012 02:59:36 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061177804&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061177804&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061177804&srvc=rss Shoppers visiting stores during what's become a four-day Black Friday "weekend" thanks to Thanksgiving openings... business Tue, 27 Nov 2012 21:58:13 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061177811&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061177811&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061177811&srvc=rss Mass. home sales soar over last year A total of 4,044 single-family homes sold in the Bay State last month,... business Tue, 27 Nov 2012 21:46:55 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061177787&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061177787&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061177787&srvc=rss Shoppers visiting stores during what's become a four-day Black Friday "weekend" thanks to Thanksgiving openings... business Tue, 27 Nov 2012 19:40:32 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061177769&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061177769&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061177769&srvc=rss A Woburn business owner has pleaded guilty in connection with failing to accurately report his total payroll or... business Tue, 27 Nov 2012 19:09:30 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061177772&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061177772&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061177772&srvc=rss WASHINGTON - A federal judge today ordered tobacco companies to publish corrective statements that say they lied... business Tue, 27 Nov 2012 17:38:04 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061177583&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061177583&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061177583&srvc=rss State officials and industry leaders today will hold the first meeting of the Advanced Manufacturing Collaborative... business Tue, 27 Nov 2012 16:22:02 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061177763&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061177763&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061177763&srvc=rss A racy Cyber Monday promo from urban streetwear web retailer Karmaloop featuring scantily-clad women posing as... business Tue, 27 Nov 2012 15:55:32 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061177752&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061177752&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061177752&srvc=rss The search is on for a new CEO at Hub-based online customizable jewelry retailer Gemvara. Founder Matt Lauzon... business Tue, 27 Nov 2012 15:06:59 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061177743&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061177743&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061177743&srvc=rss Bay State business leaders and state officials plan to hold a manufacturing summit next spring to promote an industry... business Tue, 27 Nov 2012 14:14:02 -0500 http://www.bostonherald.com/business/technology/general/view.bg?articleid=1061177741&srvc=rss http://www.bostonherald.com/business/technology/general/view.bg?articleid=1061177741&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/technology/general/view.bg?articleid=1061177741&srvc=rss Research teams at the University of Massachusetts Amherst and other institutions are developing a nanotube-based... business Tue, 27 Nov 2012 13:47:59 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061177739&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061177739&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061177739&srvc=rss The Pinehills in Plymouth will be home for the second Mirbeau Inn & Spa. Mirbeau, which operates a six-building,... business Tue, 27 Nov 2012 13:41:38 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061177730&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061177730&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061177730&srvc=rss BioAxone BioSciences, a privately held biotechnology company, will celebrate the opening of a new office in Cambridge... business Tue, 27 Nov 2012 13:22:50 -0500 http://www.bostonherald.com/business/technology/general/view.bg?articleid=1061177731&srvc=rss http://www.bostonherald.com/business/technology/general/view.bg?articleid=1061177731&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/technology/general/view.bg?articleid=1061177731&srvc=rss BUFFALO, N.Y.- The latest in a string of lawyers who have represented a New York man in a multibillion lawsuit... business Tue, 27 Nov 2012 13:20:14 -0500

Business - BostonHerald.comBusiness - BostonHerald.com

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US defends 'enormous' climate efforts at UN talks

Written By Unknown on Senin, 26 November 2012 | 22.27

DOHA, Qatar — The U.S. defended its track record on fighting climate change on Monday at U.N. talks, saying it's making "enormous" efforts to slow global warming and help the poor nations most affected by it.

Other countries have accused Washington of hampering the climate talks ever since the Bush administration abandoned the Kyoto Protocol, the 1997 treaty limiting emissions of heat-trapping gases by industrialized countries. As negotiators met for a two-week session in oil and gas-rich Qatar, U.S. delegate Jonathan Pershing suggested America deserves more credit.

"Those who don't follow what the U.S. is doing may not be informed of the scale and extent of the effort, but it's enormous," Pershing said.

He noted that the Obama administration has taken a series of steps, including sharply increasing fuel efficiency standards for cars and trucks, and made good on promises of climate financing for poor countries. A climate bill that would have capped emissions stalled in the Senate.

"It doesn't mean enough is being done," Pershing said. "It's clear the global community, and that includes us, has to do more if we are going to succeed at avoiding the damages projected in a warming world."

The two-decade-old U.N. talks have not fulfilled their main purpose: reducing the greenhouse gas emissions that scientists say are warming the planet.

The goal is to keep the global temperature rise under 2 degrees C (3.6 F), compared to pre-industrial times.

Efforts taken so far to rein in emissions, reduce deforestation and promote clean technology are not getting the job done. A recent projection by the World Bank showed temperatures are expected to increase by up to 4 degrees C (7.2 F) by 2100.

Scientists warn that dangerous warming effects could include flooding of coastal cities and island nations, disruptions to agriculture and drinking water, the spread of diseases and the extinction of species.

Attempts to forge a new climate treaty failed in Copenhagen three years ago, but countries agreed last year to try again, giving themselves a deadline of 2015 to adopt a new pact.

Several issues need to be resolved by then, including how to spread the burden of emissions cuts between rich and poor countries. That's unlikely to be decided in the current talks in the Qatari capital of Doha, where negotiators from nearly 200 countries are focusing on extending the Kyoto Protocol, and trying to raise billions of dollars to help developing countries adapt to a shifting climate.

"We owe it to our people, the global citizenry. We owe it to our children to give them a safer future than what they are currently facing," said South African Foreign Minister Maite Nkoana-Mashabane, who led last year's talks in Durban, South Africa.

The U.N. process is often criticized, even ridiculed, both by climate activists who say the talks are too slow and by those who challenge the scientific near-consensus that the global temperature rise is at least partly caused by human activity, primarily the burning of fossil fuels like coal and oil.

The concentration of greenhouse gases such as carbon dioxide has jumped 20 percent since 2000, according to a U.N. report released last week. The report also showed that there is a growing gap between what governments are doing to curb emissions and what needs to be done to protect the world from potentially dangerous levels of warming.

"Climate change is no longer some distant threat for the future, but is with us today," said Greenpeace climate campaigner Martin Kaiser, who was also at the Doha talks. "At the end of a year that has seen the impacts of climate change devastate homes and families around the world, the need for action is obvious and urgent."

Many scientists say that extreme weather events, such as Hurricane Sandy's onslaught on the U.S. East Coast, will become more frequent as the Earth warms, although it is impossible to attribute individual weather events to climate change.

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Fiat Industrial and CNH reach merger agreement

MILAN — The Italian heavy-duty vehicles maker Fiat Industrial reached an agreement Monday for a full merger with its U.S. subsidiary, the farm equipment maker CNH Global N.V., creating the world's third-largest capital goods company by sales.

Fiat Industrial had aggressively pursued the full merger of the 12 percent of CNH that it didn't already own, making a pitch in the spring and then raising the value of the offer by more than 25 percent last week after CNH advisers refused to endorse the deal.

Fiat Industrial earlier this month had streamlined the management structure to better integrate the two companies, placing the head of CNH, Richard Tobin, as group chief operating officer, second in command to Chairman Sergio Marchionne, who also runs the Fiat and Chrysler car companies.

"Completion of this merger will bring to a conclusion a lengthy process of simplifying and rationalizing the Group's equity capital structure," Marchionne said in a statement issued jointly by the two companies.

The new company, which has yet to be named, will be based in the Netherlands and listed on the New York Stock Exchange. The merger is expected to close in the second quarter of next year, the companies said.

It will be the third largest capital goods company by sales, after Caterpillar and Volvo. Marchionne said the new company would be "a true peer in scale and capital markets appeal to the other major capital goods companies."

The deal is based on Fiat Industrial's sweetened offer, including a cash dividend of $10 per CNH share prior to the completion of the merger. Each CNH shareholder would receive 3.828 shares of the merged company, while each Fiat Industrial shareholder would receive one share.

Fiat Industrial shares fell 2 percent to €8.33 on the Milan exchange Monday.

Besides CNH, Fiat Industrial, based in the northern Italian city of Turin, comprises IVECO truck and heavy vehicle company and FPT Industrial powertrains. CNH, which is based in the Chicago suburb of Burr Ridge, Illinois, sells farm and construction equipment under the Case and New Holland brands in 170 countries.

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Supreme Court orders new look at health care challenge

WASHINGTON — The Supreme Court has revived a Christian college's challenge to President Barack Obama's healthcare overhaul, with the acquiescence of the Obama administration.

The court on Monday ordered the federal appeals court in Richmond, Va., to consider the claim by Liberty University in Lynchburg, Va., that Obama's health care law violates the school's religious freedoms.

A federal district judge rejected Liberty's claims, and the 4th U.S. Circuit Court of Appeals ruled that the lawsuit was premature and never dealt with the substance of the school's arguments. The Supreme Court upheld the health care law in June.

The justices used lawsuits filed by 26 states and the National Federation of Independent Business to uphold the health care law by a 5-4 vote, then rejected all other pending appeals, including Liberty's.

The school made a new filing with the court over the summer to argue that its claims should be fully evaluated in light of the high court decision. The administration said it did not oppose Liberty's request.

Liberty is challenging both the requirement that most individuals obtain health insurance or pay a penalty, and a separate provision requiring many employers to offer health insurance to their workers.

The appeals court could ask the government and the college for new legal briefs to assess the effect of the Supreme Court ruling on Liberty's claims before rendering a decision.

Liberty's case joins dozens of other pending lawsuits over health reform, many involving the requirement that employer insurance plans cover contraception, which are working their way through the federal court system.

The case is Liberty University v. Geithner, 11-438.

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Fiscal cliff quarrels keep US stocks in check

The stock market edged lower Monday morning, pulled down by old worries about the debt crisis in Europe and a political standoff over taxes and spending in the U.S.

In early trading, the Dow Jones industrial average was down 66 points at 12,945. The Standard & Poor's 500 was down 6 to 1,403. The Nasdaq composite index slipped less than a point, to 2,966.

Monday was the first trading day after the beginning of the holiday shopping season, a crucial time for retailers that rely on Christmas shopping to make up for shortfalls during the rest of the year. But the impact of Thanksgiving Day, Black Friday and the rest of the weekend was hard to read.

The National Retail Federation reported that 247 million shoppers visited stores and shopping websites during the Thanksgiving holiday, up 9 percent from a year ago. They spent an average of $423, up 6 percent.

Still, retailers worry that the momentum won't last. Retailers like Macy's, Target and Saks were down in early trading.

One major reason is the overhang of the "fiscal cliff." That's when both higher taxes and cuts to government programs, like unemployment benefits and Social Security, will kick in at the end of the year unless Congress and the White House work out a compromise before then.

A government report released Monday warned that a sudden increase in taxes would result in lower consumer spending next year, and some analysts wondered if the concerns about what could happen might crimp spending throughout the rest of the holiday season.

The report, by President Barack Obama's National Economic Council and his Council of Economic Advisers, estimated that a married couple earning between $50,000 and $85,000 with two children would see a $2,200 increase in their taxes.

The White House wants to raise some taxes, but key business groups have protested vehemently. The homebuilding industry says it won't stand for even small cuts to the mortgage interest deduction, a tax break that's meant to encourage homeownership. AARP has publicly lobbied against cuts to Medicare and Social Security.

To be sure, the fiscal cliff fighting could be mostly grandstanding for lawmakers. Lawmakers often fight over budget issues until the dramatic 11th hour, then work out a compromise at the last moment.

Overall, Monday morning was quiet, with no major economic reports due in the U.S. and no major companies scheduled to make big announcements. In Europe, leaders of European Union countries tried to hammer out a deal to lend more money to debt-crippled Greece, but many analysts have come to view that as another tired theme that has already been baked into the markets.

Count David Kelly, chief global strategist at JPMorgan Funds, among the underwhelmed.

"The themes seem about as recycled as Thanksgiving turkey," Kelly wrote in a note to clients, referring to the fiscal cliff and the European debt crisis. He expected a better read on the economy later this week, with reports on consumer confidence on Tuesday, and unemployment claims and third-quarter economic growth on Thursday.

Sam Stovall, chief equity strategist at S&P Capital IQ, was similarly unmoved. "Most of these uncertainties have been with us for quite some time," he wrote in a note, "and are now regarded by many as annoyances to resolve rather than obstacles to fear."

Overall, the U.S. economy has been hard to read. For every sign that it is improving, there's another that indicates it's not. The market jumped 421 points last week, one of the best weeks of the year. It was down for four straight weeks beforehand.

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Supreme Court won't get into fight over grape patents

WASHINGTON — The Supreme Court won't hear an appeal from a California table grape organization over a lawsuit seeking to invalidate several government table grape patents.

The high court on Monday refused to hear an appeal from the California Table Grape Commission, which is fighting to keep in place patents on Sweet Scarlet, Autumn King and Scarlet Royal varieties of table grapes.

Delano Farms Co. and other farms say the patents are invalid, and won a lower court decision that would allow them to go to court to fight their case. The commission wants that case thrown out, but the U.S. Court of Appeals for the Federal Circuit disagreed.

The case now goes back to the lower courts.

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Big sales on Small Business Saturday

Written By Unknown on Minggu, 25 November 2012 | 22.26

When Joanne Rossman opened her namesake gift store 12 years ago she didn't bother buying a cash register — instead stuffing her profits in a Dunkin' Donuts cup behind the counter — because she thought her boutique amid empty storefronts could never compete with large retailers.

But her Roslindale Village business has flourished in recent years, and mom-and-pop shop supporters gave Rossman an extra boost yesterday on Small Business Saturday.

"It's been incredible. Every year it just gets better and better," said Rossman, who racked up huge sales during the shopping event sandwiched between Black Friday and Cyber Monday.

The campaign to support independent mom-and-pop businesses amid the holiday rush at big-box retailers and Internet sites is a way for shoppers to show love of community, said Karen Mills, head of the federal Small Business Administration, who browsed Roslindale stores yesterday.

Mills said 100 million shoppers participated in last year's campaign — including President Obama, who headed to another independent book store yesterday — and she expects that number to rise this year.

"It's really become a movement. I think it's not just about supporting the community. It's about saying 'thank you' to people in our community," she said.

Maureen Tisei of West Roxbury has done her Christmas shopping locally on the Saturday after Thanksgiving for the past three years.

"I come out to support my community. I look forward to it," she said.

Business owners said many customers whipped out credit cards from American Express, which created the campaign in 2010 and offered $25 credits for those spending at least that amount at local stores.

"Last year Small Business Saturday was my best sales day ever — in the three years I had been open at the time. We're hoping for a repeat," said Elizabeth Swanson, owner of Birch St. House & Garden.

Antone Wilson, who stopped into Diane's Bakery yesterday, said he prefers locally made sweets over chain-store goods.

"I like a real doughnut. If you've never had one, you don't know what you're missing," he said.

"Small Business Saturday has really helped highlight local retail," said Ruth Kennedy, whose family opened Birch Flower Shop 70 years ago.

"It's a great idea. We always shop locally to help the little guy," she said. "You get better service."

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Egypt's stock market plummets after Morsi's decree

CAIRO — Egypt's benchmark stock index has plunged 9.5 percent halfway through the first trading session since the country's Islamist president issued decrees to assume near absolute powers.

Sunday's losses on the Egyptian Exchange's EGX30 index are among the biggest since the turbulent days and weeks after the ouster of authoritarian leader Hosni Mubarak last year.

The fall follows the announcement Thursday by President Mohammed Morsi of a package of decrees that place him above any oversight, including judicial, and extend the same protection to two Islamist-dominated bodies: a panel drafting a new constitution and parliament's upper chamber.

Morsi says his measures are designed to "protect the revolution," but they triggered an uproar among non-Islamist political groups now vowing to press on with street protests to force him to back down.

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Hobbits, superheroes put magic in New Zealand film industry

WELLINGTON, New Zealand — A crate full of sushi arrives. Workers wearing wetsuit shirts or in bare feet bustle past with slim laptops. With days to go, a buzzing intensity fills the once-dilapidated warehouses where Peter Jackson's visual-effects studio is rushing to finish the opening film in "The Hobbit" trilogy.

The fevered pace at the Weta Digital studio near Wellington will last nearly until the actors walk the red carpet Nov. 28 for the world premiere. But after "The Hobbit: An Unexpected Journey" hits theaters, there's more work to be done.

Weta Digital is the centerpiece of a filmmaking empire that Jackson and close collaborators have built in his New Zealand hometown, realizing his dream of bringing a slice of Hollywood to Wellington. It's a one-stop shop for making major movies — not only his own, but other blockbusters like "Avatar" and "The Avengers" and hoped-for blockbusters like next year's "Man of Steel."

Along the way, Jackson has become revered here, even receiving a knighthood. His humble demeanor and crumpled appearance appeal to distinctly New Zealand values, yet his modesty belies his influence. He's also attracted criticism along the way.

The special-effects workforce of 150 on "The Lord of the Rings" trilogy a decade ago now numbers 1,100. Only five of Weta Digital's workers are actual employees, however, while the rest are contractors. Many accept the situation because movie work often comes irregularly but pays well. Union leaders, though, say the workers lack labor protections existing in almost any other industry.

Like many colleagues, Weta Digital's director, Joe Letteri, came to New Zealand in 2001 to work on the "Rings" trilogy for two years. The work kept coming, so he bought a house in Wellington and stayed.

"People come here because they know it's their chance to do something really great and to get it up on the screen," he said in a recent interview. "And you want to do it in these next two weeks, because the two weeks after the movie's finished are useless."

Jackson, who declined to be interviewed for this story, launched Weta in 1993 with fellow filmmakers Jamie Selkirk and Richard Taylor. Named after an oversized New Zealand insect, the company later was split into its digital arm and Weta Workshop, which makes props and costumes.

Loving homages to the craft are present in Weta Digital's seven buildings around the green-hilled suburb of Miramar. There are old-time movie posters, prop skulls of dinosaurs and apes, and a wall of latex face impressions of actors from Chris O'Donnell to Tom Cruise.

Its huge data center, with the computing power of 30,000 laptops, resembles a milk-processing plant because only the dairy industry in New Zealand knew how to build cooling systems on such a grand scale.

Little of Weta's current work was visible. Visitors must sign confidentiality agreements, and the working areas of the facilities are off-limits. The company is secretive about any unannounced projects, beyond saying Weta will be working solidly for the next two years, when the two later "Hobbit" films are scheduled to be released.

The workforce has changed from majority American to about 60 percent New Zealanders. The only skill that's needed, Letteri says, is the ability to use a computer as a tool.

Beyond having creativity as a filmmaker, Jackson has proved a savvy businessman, Letteri says.

"The film business in general is volatile, and visual effects has to be sitting right on the crest of that wave," Letteri says. "We don't get asked to do something that somebody has seen before."

The government calculates that feature films contribute $560 million each year to New Zealand's economy. Like many countries, New Zealand offers incentives and rebates to film companies and will contribute about $100 million toward the $500 million production costs of "The Hobbit" trilogy. Almost every big budget film goes through Jackson's companies.

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Jeff Kaye, voice of NFL Films, dies at 75

PHILADELPHIA — If you were going to follow John Facenda on the air, you had to have a great voice.

Maybe nobody could match the legendary Facenda, whose familiar baritone was called the "voice of God" when he broadcast for NFL Films.

But Jeff Kaye brought it off. After Facenda died in 1984, Jeff became the voice of NFL Films, lending his own sonorous baritone to the pro-football features of the Mount Laurel, N.J.-based company.

Maybe not quite God, but close to it.

"I can say to this day, when I look at some of the shows Jeff narrated over the years, I am still fascinated by the way he told a story," said Kevin McLoughlin, director of post-production for NFL Films.

"His voice — so smooth, yet booming — was always a pleasure to listen to. He had some big shoes to fill after John Facenda passed away.

"Jeff narrated hundreds of films for NFL Films over the years, from team highlights, to 'Road to the Super Bowl.' One of best voices of NFL Films."

Jeff Kaye, born Martin Krimski in Baltimore, winner of four Emmy Awards for broadcasting, whose radio career surged in Boston and Buffalo, N.Y., died of cancer Friday at the age of 75. He lived in Binghamton, N.Y.

Jeff's voice was a familiar presence in Philadelphia for some 30 years, yet hardly anybody knew his name. For years, it was his voice that announced the news broadcast on WPVI-TV: "Action News, the Delaware Valley's leading news program."

He also did voice-overs for Phillies games and commercials, advertising products and services ranging from Budweiser to NJ Transit. In Buffalo, Jeff became something of a legend in 1968 when he scripted and produced his own version of H.G. Wells' "War of the Worlds" as program director of WKBW-AM.

The broadcast wasn't as terrifying as Orson Welles' version in 1938, but it still scared the pants off many listeners with its realistic-sounding reporting by actual WKBW staffers of a supposed Martian invasion.

Jeff was a popular boss in Buffalo. Sandy Beach, a former WKBW staffer, said Jeff "had such class, style, and talent. He encouraged us to 'go for it' every time we were on the air. He recognized, hired and nurtured talent."

In the early '80s, Jeff moved to WHEN Radio in Buffalo, before coming to Philadelphia and NFL Films, where he worked with the late Harry Kalas. Jeff almost lost his voice in 1996 when a cancerous tumor was found on his left vocal cord. The growth was successfully removed, and he returned to the air.

His first broadcasting job was in Providence, R.I., after his service in the Air Force, where he was a meteorologist. He retired in 2006.

He is survived by his wife of 54 years, Suzanne; three daughters, Anne Schoonover, Judith Krimski and Sarah Krimski-Smith; a son, Peter Krimski; and seven grandchildren.

———

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In need of a bailout, FHA trying to raise more revenue

WASHINGTON — You may have seen headlines last week about the Federal Housing Administration needing a taxpayer "bailout" by the Treasury and wondered: Uh oh. Is the FHA heading down the fiscal drain like Fannie Mae and Freddie Mac, which have required billions in federal assistance just to stay in business?

The good news answer for FHA's traditional borrowers — who are primarily moderate-income, first-time purchasers, people with limited cash for down payments and less-than-perfect credit histories — is no. There is a strong possibility that FHA will not require any money transfer from the Treasury, which in any event would not occur until next September. Meanwhile FHA is making tweaks to its program rules that could affect some loan applicants in the months ahead, and which are designed to improve revenue flows to the agency and cut back on losses.

Among the most immediate changes, new borrowers early next year are likely to be charged slightly higher annual mortgage insurance premiums — 1.35 percent of the loan balance rather than 1.25 percent at present. On loans above $625,500 in high-cost areas such as California and metropolitan Washington, D.C., the annual premium will go from 1.5 percent to 1.6 percent. This will not be a major problem for most people, but it could cause some buyers to check out FHA's competitors' private mortgage insurers whose monthly premiums on loans for applicants with high credit scores may be more attractive than FHA's.

To increase revenue streams long term, FHA is also abandoning its practice of allowing borrowers to cancel their annual mortgage insurance premium payments when their loan balance drops to 78 percent of the property value. In effect, this will mean that borrowers obtaining 30-year FHA loans could be paying premiums for decades.

Is this a big deal? Clem Ziroli Jr., president of First Mortgage Corp. in Ontario, Calif., thinks it could encourage some higher credit quality borrowers to "refi out" of their FHA loans and seek better deals in the conventional marketplace. But Paul E. Skeens, president of Colonial Mortgage Group in Waldorf, Md., sees it differently: With fixed 30-year mortgage rates in the mid- to upper-3 percent range and virtually certain to increase — maybe significantly if the economy improves in the coming years — "everybody is going to want to keep these loans forever," he predicts. "They're not going to want to refi."

Other changes on the FHA horizon:

L More financial counseling for applicants who have low FICO credit scores, are purchasing their first homes, and are seeking to make minimum 3.5 percent down payments.

L A new short-sale program that reaches out to existing FHA homeowners who are seriously delinquent and heading toward foreclosure. FHA Acting Commissioner Carol J. Galante said the agency plans to streamline the short-sale option — where owners are permitted to sell their house for less than the balance on the mortgage — in order to avoid the huge costs of foreclosures.

L Structural alterations to FHA's reverse mortgage program, which allows senior homeowners to withdraw funds based on the equity in their properties. The program dominates the industry and accounts for the vast majority of outstanding reverse loans in the country, but has produced inordinate losses to the FHA insurance fund because of home-value declines and the failure of some borrowers to make their property tax and insurance payments, thereby triggering foreclosures. Though few details are yet available and Congress would have to approve any statutory changes, Galante said the agency plans to restrict the amounts that seniors can draw down in a lump sum up front, among other remedial actions next year.

The bottom line on FHA's forthcoming program tweaks? Jeff Lipes, vice president of Rockville Bank in Hartford, Conn., put it this way: FHA isn't making fundamental changes. Its basic mix of enticements — low down payments, low credit score requirements and generous underwriting rules compared with competitors — aren't going away, "so I don't think the tweaks will have that great an impact on most FHA buyers."

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