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Yankee Quill honors for 5 New England journalists

Written By Unknown on Sabtu, 13 Juli 2013 | 22.27

BOSTON — Five New England journalists, including a 19th century poet, will receive Yankee Quill awards this fall for their professional contributions.

The annual awards are given by the Academy of New England Journalists through the New England Society of Newspaper Editors Foundation. They are considered the highest individual honors from fellow journalists in the region.

The honorees are Christine Chinlund, managing editor of The Boston Globe; the late Peter Lord, long-time environmental reporter and editor at the Providence Journal; James Rousmaniere, recently retired editor and president of the Keene (N.H.) Sentinel, and Eliot White, publisher and owner of the Record-Journal in Meriden, Conn.

Also being honored is Massachusetts poet John Greenleaf Whittier, who helped lead the 19th century movement to abolish slavery while working as a newspaper reporter and editor.

The awards will be presented at NESNE's October conference.


22.27 | 0 komentar | Read More

Pittsfield man starts baseball bat company

PITTSFIELD  — Casey O'Donnell believes there's no sweeter sound than the crack a wooden bat makes when it connects with the leather hide and stitches of a baseball.

Perhaps that's why the 27-year-old entrepreneur began making custom baseball bats for players in the basement of his parent's Pittsfield home. But as O'Donnell tells it, the true reason for his avocation is far closer to the "American Dream," with his bats, hand-crafted in the city that includes the earliest known reference to "America's Pastime" in North America, emblazoned with the red, white and blue, and in the hands of high-level ball players.

At 9 years old, O'Donnell had just been cut from his Little League team, a moment that "devastated" the would-be ball player and bury his love of the game for nearly two decades.

O'Donnell studied music, playing bass and other instruments in several bands and eventually enrolled at the University of Massachusetts Boston where he earned a bachelor of arts degree in political science.

But something felt off, unfinished, empty. Then it hit him. About three years ago he was watching his dad, Kevin O'Donnell, working in his shop making wooden fishing plugs.

Casey turned to his father and said, "hey Dad, think we can make a baseball bat?"

Wanting to support his son's passion, Kevin worked with his son, showing him everything he had learned about working with wood.

"More than anything I want to see him do what he loves," Kevin said of Casey. "Half of the battle of every day is getting up. It's a lot easier if you have a job to go to that you're passionate about."

The first bat he made turned out more like a club that the Flintstones cartoon character Bam Bam would wield, O'Donnell said. But it was a bat, and each one after the first one looked more polished as he honed his skills with his father as teacher, supporter and counselor.

His first customer was an easy sell. O'Donnell's best friend, Paul Procopio, was playing for the North Adams Steeplecats at the time and as soon as he heard Casey was making bats, he just had to have one. So O'Donnell went to work and created the first P22, which is named after his friend.

"His attention to detail is unbelievable. It was amazing to use something my best friend made and such an incredible product," Procopio said. "It's totally custom to what you like — smaller knob, bigger knob, smaller barrel, bigger barrel — it didn't matter, he can do it."

Word spread quickly of O'Donnell's bat making prowess and orders trickled in through word-of-mouth, but he didn't have a name for his company yet. He decided to name it "Odo," after the only nickname he's ever been given. The Odo Bat Co. was created.

O'Donnell's weekends during college were spent driving back to Pittsfield to make a bat or two, before driving back to Boston for class. His life has been full of maple, birch, ash and sawdust ever since.

"Nothing is more gratifying than seeing a guy at the plate, holding one of my bats in his hand ready to unload on a pitch," O'Donnell said. "Every time one of them breaks though, it feels like one of my limbs just broke."

A broken bat, however, might be just what O'Donnell needed to thrust his small business into a lifelong career.

Ryan Deitrich of the Pittsfield Suns was using one of O'Donnell's bats during a game recently when he swung at a fastball low and away and snapped it at the handle. He still managed to get a base hit.

Deitrich, who left the Suns after the team's game on July 4 to join his new teammates at Duke University, said he liked the broken bat so much that he knew he had to have more. So he ordered five bats from O'Donnell to take with him to North Carolina.

"I used a lot of big name bats but they're not always a high quality wood they use," he said. "Casey is able to give me custom spec bats. He's able to cut them down to the exact length, weight, barrel size and handle size I like."

O'Donnell also specializes in "bone rubbing" — using a cow's bone to give the bat a smoother finish and compressing the wood — to each of the bats. Deitrich said that method gives the batter a higher percentage for making a hit.

"It feels better coming off the barrel," he said. "If you don't square one up, it gives you a little more room for error to still make good contact and get a hit."

It takes O'Donnell about three days to make a bat from start to finish, he said. He also staggers the process, turning out four or five bats in each cycle.

O'Donnell plans to keep the production of bats in his parent's basement for the next year or so while he saves up enough money to rent a workspace in Pittsfield, his hometown, and the city where his business will remain no matter how big it gets.

"This is the American Dream," O'Donnell said. "Players want to support something local and it's very important for me to do it here in Pittsfield."


22.27 | 0 komentar | Read More

Grants will help Mass. undersea "kites" project

BOSTON — Three Massachusetts research facilities are getting a boost from the federal government, including money to help find out if undersea "kites" can reliably produce renewable energy.

The National Science Foundation is awarding nearly $2 million to spur research projects in science and engineering.

Worcester Polytechnic Institute will receive more than $300,000 for a project looking at the harvesting of hydrokinetic energy using tethered undersea kites designed to take advantage of powerful tidal forces.

It's not the first attempt to plumb the oceans for renewable energy. Other undersea projects have relied on turbines.

Undersea power is attractive partly because tides are very predictable, compared to wind energy.

The other grants are going to unrelated projects by the Woods Hole Oceanographic Institution, which is getting two grants totaling about $1.4 million. Tufts University will receive $300,000.


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New England's love affair with natural gas cools

MONTPELIER, Vt. — New England's love affair with natural gas appears to be showing strain as the regional power grid operator voices worry about too much demand on limited supplies and a leading environmental group criticizes the fuel it once supported.

The changing mood follows more than a decade of explosive growth in the use of natural gas to heat and especially to power the six-state region's homes and businesses. Natural gas industry leaders say they are poised for continued rapid growth despite the warning bells being rung in other quarters.

In 2000, about 15 percent of New England's electricity was produced at generating stations that burned natural gas; in 2012, that number had grown to 52 percent, according to ISO-New England, the independent system operator that manages the regional power grid.

ISO-New England spokeswoman Marcia Blomburg said this past week that the organization is in the midst of a major study to determine if the region's power grid has become too reliant on natural gas and, if so, what might be done to address the issue.

Gordon van Welie, the grid operator's CEO, testified recently before a U.S. Senate committee that the key natural gas supply issue is the limited capacity of pipelines carrying the fuel into New England. Twice this past winter, during a cold snap in late January and a blizzard in early February, competing demand for gas for other uses, including home heating, meant power generators had difficulty getting the supplies they needed, van Welie said.

"And we were very close to the edge of reliability in very poor weather circumstances," van Welie said at a May 14 hearing of the Senate Energy and Natural Resources Committee. "As a system operator, that makes us very nervous and we want to solve that problem as quickly as we possibly can."

Dan Whitten, spokesman for the Washington-based America's Natural Gas Alliance, said it appears that New England's real problem with natural gas is that it can't get enough.

Meanwhile, the Conservation Law Foundation, whose affiliate CLF Ventures was an active partner in a gas-fired power plant in Londonderry, N.H., that went fully operational in 2002, now is trying to block Vermont Gas Systems from extending a gas pipeline from the area of northwestern Vermont that it currently serves southward along the western side of the state.

CLF, which is based in Boston and has offices around the region, won praise from the New Hampshire project's lead developer for helping win public acceptance of it. "CLF Ventures provided a much needed calming voice. Their credibility was a real asset," Roger Sant, since retired as chairman of AES Corp., is quoted on the CLF Ventures website as saying.

But in Vermont Public Service Board proceedings on Vermont Gas Systems' Addison Pipeline project, a CLF expert, Elizabeth Stanton of Cambridge, Mass.-based Synapse Energy Economics, rebutted Vermont Gas Systems' claim that the project would reduce greenhouse gas emissions. On the contrary, Stanton testified, any savings from using cleaner-burning gas over heating oil in homes and businesses along the route would be more than offset by pipeline leaks of methane, a potent greenhouse gas, into the atmosphere.

CLF senior attorney Sandra Levine said in an interview that even at the height of its support for natural gas in the late 1990s, CLF considered it a "transitional fuel," useful for getting New England to use less coal and oil. Eventually, natural gas, a fossil fuel that produces greenhouse gases, should be replaced by renewable energy sources, and CLF is pushing in that direction, she said.

Pipelines and power plants are infrastructure designed to last 30 to 50 years. CLF is unlikely to support more such projects because they would lock New England into natural gas until the latter half of this century, she said.

"Gas has already helped us as a region move away from coal," Levine said. "The transition we need now is to move away from fossil fuels."

Levine also noted concern about hydraulic fracturing, or fracking, a hotly debated method for gas extraction that many environmentalists blame for contaminating water supplies. Vermont banned fracking last year, a move widely seen as symbolic since the state has no known natural gas deposits within its borders.

Thomas Kiley, president of the Northeast Gas Association, said the use of natural gas hasn't peaked in New England yet. But state governments, including those in Connecticut, Massachusetts, Maine and Vermont, have gone on the record to support expansion.

When Vermont Gas announced last week that it was expanding its system eastward to Enosburg Falls, allowing homeowners to tap into a heating fuel that could save them up to $2,000 over the cost of heating oil, Gov. Peter Shumlin called it "great news for residents and business owners alike."

Companies wouldn't be expanding systems if they didn't see pent-up customer demand, Kiley said. "It's interesting that the state that bans fracking wants the benefits of low prices, or at least the customers do," he said.


22.27 | 0 komentar | Read More

Across tobacco country, crops wilt from rain

LOUISVILLE, Ky. — Jason Elliott had one of his best stands of burley tobacco growing until the rains started. Five days and seven inches of precipitation later, about a quarter of his crop was ruined, trimming thousands of dollars from his payday when he hauls his leaf to market in a few months.

Fields all over tobacco country have been soaked, and without a good stretch of dry weather in coming weeks, Elliott's predicament could play out many times over. In Kentucky alone, the nation's second-leading producer, the toll could hit as much as $100 million if the crop doesn't rebound. More than half of top grower North Carolina's crop is in jeopardy.

It threatens to become the latest setback for a sector of agriculture that has endured sluggish prices, higher production costs and uncertain markets due to smoking bans.

In Kentucky, the thunderstorms that started two days before Independence Day and continued into the weekend caused tobacco plants to wilt and collapse about a month before burley harvest shifts into high gear. Some of the plants at Elliott's Lincoln County farm slumped over, barely boot-top high. Others stood but looked sickly.

"It's just got a real pale color to it," Elliott said. "It doesn't have the good green tobacco color that it should have."

Damage appeared to be heaviest in south-central Kentucky, a prime burley tobacco region where as much as 60 percent to 80 percent of the crop was affected, said Bob Pearce, a University of Kentucky burley extension specialist.

"This is the most widespread and significant amount of damage I've seen from a single event like this," Pearce said. "The number of (damage) reports that I'm getting is kind of unprecedented. It's been a game-changer."

Kentucky is the nation's leading producer of burley tobacco, an ingredient in many cigarettes. Based on last year's prices, the downpours could cut the statewide yield by up to 25 percent, Pearce said.

Rain gauges have been overflowing as well in North Carolina, where flue-cured tobacco reigns.

Kent Revels, who grows flue-cured tobacco in Harnett County, N.C., said he's measured more than 30 inches of rain since May 1, with 17 in June — when the average is just over 3 inches. Rains has continued into July.

"We're doing the things we normally do," said Revels, who farms 260 acres of tobacco. "We're just fighting the rain to do it. I'm not throwing in the towel, but it's going to be a short crop. It all depends on what the weather will be from here on out."

North Carolina farmers planted 170,000 acres of tobacco in 2013, up 4 percent from 2012, said state Agriculture Department spokesman Brian Long.

In Kentucky, burley growers planted an estimated 78,000 acres this year, a 4,000-acre increase from a year ago, according to the National Agricultural Statistics Service's field office in the state.

Tobacco is known as a resilient crop, and the roots can dry out if the rain stops. But so much rain makes for a thinner crop that doesn't weigh as much as it should, and the marketing system is based on dollars per pounds.

Regional agronomist Don Nicholson estimated that up to 80 percent of North Carolina tobacco farmers will be able "to turn this crop around" with a stretch of normal summer temperatures and dry conditions.

"That's one of the wonderful things about tobacco," he said. "You can't count the plant out until you destroy the crop. It can be extremely dry and you get a few rains and you can make a crop. Or it can be really wet and it gets dry, and the plants put a root system down."

In Tennessee, yields will be down from a year ago due to a wet spring and early summer, said Bob Miller, a tobacco researcher for UK and the University of Tennessee.

"We've had way more water than tobacco likes," Miller said.

In Virginia, the nation's No. 3 tobacco producer and home to Marlboro maker Philip Morris USA, the rainy conditions prevented tobacco plants from setting deep roots.

"In terms of damage or loss, we haven't lost very much. It's been limited," said David Reed from Virginia Tech's Southern Piedmont Agricultural Research and Extension Center. "We're going to be OK unless it absolutely turns off dry in August."

Despite the plants being shallow-rooted and having a thin leaf, Virginia has the potential for a good crop, he said.

The prospect of lower yields in Kentucky comes as burley farmers hoped to reap some of their highest leaf prices since the 2004 tobacco buyout. The buyout ended a system in which tobacco growers sold their crop under federal production and price controls dating back to the Depression. Tobacco now is mostly grown under contracts between farmers and tobacco companies.

Last year's burley and dark tobacco crops in Kentucky exceeded $400 million in sales for the first time since the buyout. And until the recent wave of rainfall, this year's crops had the same potential due to burley prices expected to be around $2 per pound, said UK agricultural economist Will Snell.

For Elliott, the 34-year-old who farms the same ground tended by his grandfather and father, tobacco accounts for nearly a third of his income from a diversified operation that includes cattle, corn and soybeans. While his tobacco has suffered from the rains, his corn and soybeans have thrived, a trend being seen across most of Kentucky.

Elliott said he will still plant burley next year, regardless the outcome this year.

"It's been too good to me over the years," he said. "I can't just up and quit."

___

Waggoner reported from Raleigh, N.C. She can be reached at http://twitter.com/mjwaggonernc. Associated Press writers Michael Felberbaum in Richmond, Va., and Randall Dickerson in Nashville, Tenn., also contributed to this report.


22.27 | 0 komentar | Read More

Commercial rental rates shooting up

Written By Unknown on Jumat, 12 Juli 2013 | 22.27

The Hub's commercial rental rates are rising, bolstered by the city's better-than-average recovery from the recession, the firm Cushman & Wakefield said during its semi-annual market update yesterday.

Boston has now regained more jobs than it lost from 2008 to 2011, and so-called Class A office rents have soared 6.5 percent over the past year to the highest level in four years, the firm said.

The Back Bay, the first market to bounce back from the recession, with the highest office rental rate in the city, is expected to stay flat or even drop, as some companies head elsewhere, such as the Financial District, where rents are starting to climb, or the red-hot Seaport District, where bidding wars are the norm, the firm said.

That trend was illustrated earlier this year when accounting giant PricewaterhouseCoopers opted for space in a soon-to-be-built Seaport Boulevard office tower instead of 888 Boylston St., by the Prudential Center Tower, said Debra Gould of Cushman & Wakefield.

"They chose to go to the Seaport as opposed to the Back Bay," said Gould. "They felt that was where they'd be able to do the best recruiting."

PWC would only say in a statement yesterday that it's evaluating its space needs.

Meanwhile, multi-family rates are continuing to rise from 5 to 8 percent even with plenty of new units entering the market, said Michael Byrne of Cushman & Wakefield.

Developers are also keeping an eye on politics — and not just who will take over for Mayor Thomas M. Menino in January.

"As much as they're interested in the mayor's race, they're equally focused on the restructuring of the (Boston Redevelopment Authority)," said Byrne. "They frankly don't know how it will shape up . . . I don't think there's anyone thinking they're going to wipe it off the map. They're just unsure."


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Newport jazzes up condo options

Looking to escape the sweltering summer heat, but can't decide between a full service high rise and an ocean-front cottage?

Well, both options are available in Rhode Island at either the Carnegie Abbey Club or the Newport Beach Club.

The Carnegie Abbey Club is considered one of the finest private clubs in the nation. It is the only gated community in Rhode Island and exemplifies gracious living with a focus on family, balance and sport. It offers residences at the Tower at the Carnegie Abbey Club, a 22- story luxury building with views of Narragansett Bay.

While its sister property next door, The Newport Beach Club, is a private ocean front club inspired by the classic New England beach town with boardwalks and intimate streets leading to the ocean's edge facing the Narragansett Bay on Newport Island.

But be prepared to pay $500,000 to $7.9 million.

Jessica Crimmins and her husband Martin have lived in Beacon Hill for the past 20 years and will still keep a small home in downtown Boston. They were the very first family to purchase in the Newport Beach Club. They're home was just completed last month.

"We joined The Carnegie Abbey Club in 2009 because we fell in love with the sporting lifestyle there," said Jessica Crimmins. "Between the tennis, golf, equestrian, sailing and running amenities our family takes full advantage of all that the club has to offer in addition to wanting to be around people that share the sporting lifestyle."

Dr. James Pomposelli, and his wife, Dr. Elizabeth Pomfret, were the first residents in The Tower at The Carnegie Abbey Club, which boasts amenities such as concierge services, a private gym, an executive boardroom with teleconferencing and catering kitchen, a luxury pool and spa.

"We live here part time with our daughter. We love the tower because it has the amenities of city living, but the surroundings of an oceanfront home," Pomposelli said. "The club's services and offerings are spectacular and very family friendly. It's also convenient to our home near Boston."

Buyers like Kim and Roy Dawson, who live in Scituate, R.I., wanted the feel of the beach. Their home in the Newport Beach Club is currently being built and will be completed this November.

"We chose the Newport Beach Club because we wanted our next home to feel like a vacation home, a home away from home," Dawson said. "The Newport Beach Club provides everything we're looking for, we don't have to worry about the lawn or yard work, we're catered to and having the water views and pool steps away from our front door gives us a sense of pure relaxation. When we're home, we want to relax and not work. The Newport Beach Club affords us all of these options."

Jennifer Athas is a licensed real estate broker. Follow her on twitter @jenathas


22.27 | 0 komentar | Read More

Sedative use drops at Mass. nursing homes

BOSTON — An industry group says a pilot program to reduce the use of anti-psychotic medications in 11 Massachusetts nursing homes has reduced their use by 21 percent in the first year.

The initiative was prompted by a 2010 Boston Globe (http://b.globe.com/157uUHD ) analysis that found use of the powerful sedatives in state nursing homes was the 12th highest in the country, and many residents were given the medications unnecessarily.

Laurie Herndon, director of clinical quality for the Massachusetts Senior Care Foundation, says an expansion of the program to 104 other homes has had less dramatic results, with a 7 percent reduction.

Experts say nursing home residents with Alzheimer's disease or a similar cognitive impairment are at greater risk of death when given anti-psychotic medications. Federal regulators have issued alerts about serious side effects of antipsychotics.

___

Information from: The Boston Globe, http://www.bostonglobe.com


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Mixed open on Wall Street; bank stocks rise

Stocks are getting off to a mixed start on Wall Street a day after the market closed at a record high.

Bank stocks were mostly higher after JPMorgan Chase and Wells Fargo reported earnings that beat analysts' expectations.

The Dow Jones industrial average was up 18 points, or 0.1 percent, to 15,478 after the first few minutes of trading Friday.

The broader Standard & Poor's 500 index was little changed at 1,675.

The Dow and S&P closed at all-time highs the day before.

The Nasdaq composite edged up three points to 3,581.

UPS sank 5 percent to $87.23 after the package delivery company cut its forecast for second-quarter earnings as its customers choose cheaper shipping options.

The yield on the 10-year Treasury note fell to 2.54 percent from 2.57 percent.


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Summit aims to increase diversity in innovation economy

More than 250 people will gather at MIT beginning today for a three-day conference aimed at increasing the number of women and minorities in the innovation economy.

Gov. Deval Patrick, talk show host Tavis Smiley and record producer Quincy Jones will be among the 30 speakers at the Platform Inaugural Summit.

"A lot of people talk about the archetype of the young white male tech entrepreneur, but if there were a black Mark Zuckerberg, that would change perspectives," said Hank Williams, who founded Platform, a not-for-profit, last year to increase the interest and success of those under-represented in the innovation economy. "It might affect that young girl from the Latino community who may not believe technology is for her. And it might help the innovation community understand that you create better things when the people creating them are from diverse backgrounds."

A 2011 report by the National Venture Capital Association and Dow Jones VentureSource found that only 11 percent of people working in venture funds in an investing capacity are female, and only 2 percent employed in such funds in any capacity are black or Latino — a 33 percent decrease from 2008.

A CB Insights study also indicated that for the first half of 2010, only 1 percent and 8 percent, respectively, of the founding teams of venture-funded early-stage Internet companies had black and female members.

"Girls are already heavy users of technology; the goal is to shift the needle from them being consumers to creators," said Kimberly Bryant, a summit speaker and founder and executive director of Black Girls Code, which teaches girls technology. "It's not just a moral imperative; it's an economic imperative. If you don't have the folks using your technology at the table, it's going to cause the U.S. economy to lag because of our inability to fill job openings with the skilled labor we need."

The U.S. Department of Labor estimates there will be 1.4 million computer-related job openings by 2020, but today we have enough people to fill only about 30 percent of those positions.

That's in no small measure due to the fact that only about 16 percent of women graduate from college with a degree in computer science, Bryant said. For black women, the portion is fewer than 3 percent, and for Latino women, it's fewer than 1 percent.

"There is talent in every Massachusetts community, and in a global competition like the one we're in, we need all that talent on the field, ready to compete," the governor said. "That's why diversity matters, and I thank Platform for bringing these issues to the forefront."


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US unemployment benefit applications rise to 360K

Written By Unknown on Kamis, 11 Juli 2013 | 22.26

WASHINGTON — The number of people applying for U.S. unemployment benefits rose 16,000 last week to a seasonally adjusted 360,000, although the level remains consistent with steady hiring.

The Labor Department said Thursday that the less volatile four-week average increased 6,000 to 351,750.

The weekly applications data can be volatile in July because some automakers briefly shut down their factories to prepare for new models and many schools close. Those factors can create a temporary spike in layoffs.

The broader trend has been favorable. Applications have declined steadily in the past year, as companies have laid off fewer workers and stepped up hiring. In the past six months, employers have added an average of 202,000 jobs a month. That's up from an average of 180,000 in the previous six months.

Yelena Shulyatyeva, an economist at BNP Paribas, said the volatility will likely continue for the rest of the month and "could mask the true underlying trend in jobless claims data."

"We believe that labor market conditions remain on a gradually improving trajectory," she added.

Employers added 195,000 jobs in June, and revisions showed that an additional 70,000 jobs were added in the previous two months. The unemployment rate was 7.6 percent, down from 8.2 percent a year earlier.

Applications fell to their lowest level since the recession began in the April-June quarter, according to calculations by Joseph LaVorgna, chief U.S. economist at Deutsche Bank. They averaged 346,000 a week in the second quarter. That is the lowest quarterly average since it was 338,000 in the final three months of 2007, when the Great Recession began.

About 4.5 million people received unemployment benefits in the week ending June 22, the latest data available. That's about 50,000 fewer than the previous week. It's also 23 percent lower than a year ago, when there were nearly 5.9 million recipients. Some of those who no longer receive benefits have gotten jobs, but many have simply used up all the benefits available.

More hiring could help the economy grow faster later this year. The economy expanded at an annual rate of just 1.8 percent in the January-March quarter. Most analysts think it slowed even further in the second quarter, to about 1 percent to 1.5 percent.

Greater hiring means more Americans are earning paychecks, which boosts income and potentially fuels more spending. Average hourly wages rose 2.2 percent in June compared to a year earlier, ahead of the 1.4 percent inflation rate. Pay gains have started to outpace inflation this year, after barely keeping pace since the recession ended four years ago.

That's helped push consumer confidence to a 5½-year high. Greater consumer confidence is also helping drive up sales of homes and cars. From January through June, car sales reached their highest total for the first half of the year since 2007. And sales of previously occupied homes topped 5 million in May for the first time in 3 ½ years


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BlackBerry still a pick to win

A lukewarm launch of BlackBerry's top-of-the-line smartphones and lower than expected sales numbers have left the Canadian company's investors searching for answers, but experts said it is just the start of a long rebuilding process.

Speaking at the company's annual shareholder's meeting on Tuesday, BlackBerry CEO Thorsten Heins told investors the company is "in the midst of a major, complex transition." He said the company is in the second stage of a turnaround, but profitability will not be until stage three. In late June, BlackBerry — which officially changed its name from Research in Motion on Tuesday — announced it shipped a million fewer smartphones than expected.

"While many will judge our short-term success on unit sales in a single quarter, we are not a device-only company," Heins said, referring to the company's software, including enterprise-level security and BlackBerry Messenger, which recently launched on iPhone and Android.

BlackBerry has been struggling to stay level with other smartphone makers, and did not make the top five handset manufacturers in May, lagging far behind Apple and Samsung, according to comScore MobiLens, which tracks smartphone market share.

Still, this is not necessarily the end for BlackBerry, analysts said.

"I don't think it was realistic to expect he would turn it around in one quarter," said N. Venkat Venkatraman, a management professor at Boston University, referring to Heins. "I think they have a chance to be a credible third player."

"They can live to ride again, but it's not a good sign," said Roger Kay, president of Endpoint Technologies Associates.


22.26 | 0 komentar | Read More

$12 billion in aid for Egypt only temporary boost

CAIRO — A promise of $12 billion in aid from wealthy Arab Gulf nations would give Egypt's new military-backed leadership breathing room by paying for vital food and fuel imports. But the benefits would be only temporary, because Egypt's broken economy remains unrepaired.

More than two years of political turmoil, violence and deterioration in security have frightened away tourists and foreign investors. Just as harmful, badly structured subsidies on food and fuel eat up almost a third of Egypt's strained budget.

The most recent round of violence, when more than 50 supporters of ousted Islamist President Mohammed Morsi died in clashes with the military on Monday, is likely to ripple through the economy, spreading doubts over the new leadership's ability to provide stability.

A key demand among millions of people who demonstrated against Morsi was better living conditions. Little improved when he took office a year ago, after poverty, rampant corruption and crony capitalism propelled millions to join the youth-led uprising against President Hosni Mubarak in 2011.

Morsi inherited critical economic problems, and the economy deteriorated further under his one-year rule. The Egyptian currency lost more than 10 percent of its value against the dollar this year, unemployment rose to 13 percent and his government relied on handouts from sympathetic neighboring countries to survive.

This reinforced the impression that Morsi was incapable of governing, according to economic rights expert Amr Adly.

Now Saudi Arabia, Kuwait and the United Arab Emirates, longtime critics of Morsi's Muslim Brotherhood, are stepping up to back his replacements.

The $12 billion in aid, a mix of grants, cash deposits and oil and gas products, will likely be used by the incoming government to try to avert another gas and electricity shortage like the one just before Morsi's ouster nearly two weeks ago.

On Wednesday, Kuwait announced its offer of $4 billion — a $2 billion cash deposit, a $1 billion grant and $1 billion worth of oil products.

A day before, the UAE announced its $3 billion aid package to Egypt, $1 billion of which is a grant and $2 billion of which is a no-interest loan.

Regional powerhouse Saudi Arabia weighed in with the largest aid package — $5 billion, made up of $2 billion to be deposited in Egypt's central bank, $2 billion worth of oil and gas and $1 billion as a grant.

The $7 billion flowing directly into Egypt's central bank is needed to keep foreign reserves from plunging further, after the bank warned they had already reached a "critical level." Reserves stood at just $14.9 billion at the end of last month, less than half of what they were before the political upheaval that began in 2011.

The changes also mean that the tiny but influential Gulf state of Qatar has been sidelined after it showered Morsi's government with around $8 billion in aid over the course of the past year. Qatar is a key backer of the Brotherhood in the region.

Ashraf Swelam, an economist and senior advisor to former presidential candidate Amr Moussa, warned that the billions of dollars in assistance may help Egypt stay afloat for only about six months. That's when parliamentary elections are scheduled, according to a timetable drawn up by the interim president.

"The aid is not enough to cover the financial gap," he said. "The importance of it is that it provides Egypt's economy with a lifeline."

Swelam said the aid is important for Hazem el-Beblawi, the country's newly named prime minister who is also a French-educated economist, because it gives him "breathing space to maneuver" while paying Egypt's debts, subsidies and government salaries for a while.

However, the caretaker government will not likely be able to introduce needed changes to the economy, since it has neither an election mandate nor much time to implement reforms.

Egypt's interim president has promised parliamentary and presidential elections early next year. But the timetable could be derailed by unrest or credible threats that voting could make economic matters even worse.

The Muslim Brotherhood rejected the transition plan, charging it "confirms that those who carried out the coup, the dictator generals, don't respect the will of the people." Refusing to take part in the new government, the Brotherhood has instead called for an uprising against the military.

The rush by some Gulf countries to aid Egypt also reflects key regional support for the military in its power struggle against Morsi's Brotherhood.

The Saudi king praised the military's move, and Anwar Gargash, the UAE's minister of state for foreign affairs, wrote in a commentary posted on Foreign Policy's website that "the rejection by Egyptians of their Islamist government marks a turning point — not only for that country, but for the entire Middle East."

According to Mohsin Khan, a senior fellow at the Rafik Hariri Center for the Middle East at the Atlantic Council in Washington, the money from Gulf nations is aimed at keeping Egypt from collapsing.

"It will not go to improving the economy, but to keep it from being worse. This money is essentially going to shore up the foreign currency reserves," he said. "It will not be used to get Egypt out of the economic downturn it is in. At best in can just stabilize the economy temporarily."

The political quagmire means Egypt is also further away than ever from securing a $4.8 billion loan from the International Monetary Fund. The IMF requires political consensus in the absence of an elected government before signing on to the loan. Morsi's Brotherhood is unlikely to back any initiative by a new government, while liberals have long complained the IMF deal comes with too many conditions.

Khan, who was also head of the Middle East department at the IMF, said that while Gulf aid has surpassed what the IMF could offer Cairo, it fails to send positive signals about Egypt to investors who can create jobs for long-term economic recovery.

"This money from the Gulf countries is viewed by everyone in the market as politically motivated and will not have any impact on foreign investors," he said.


22.26 | 0 komentar | Read More

Mass. official probing higher risk investments

BOSTON — Massachusetts Secretary William Galvin has launched an investigation into the sale of higher risk investments to seniors.

Galvin said his office is looking into the sale of so-called "alternative investments" to seniors.

Galvin said those investments can include such non-traditional securities as real estate investment trusts, oil and gas partnerships, structured products, tenancy-in-common and 506 private placements.

Galvin said the securities can be attractive to seniors because they provide a return considerably higher than traditional investment options.

He warned however that the potential of higher returns comes with higher risks.

Galvin said the complexity of the financial products also makes them difficult for the average investor to understand.

He described them as "accidents waiting to happen" when sold to inexperienced investors by untrained agents who push the products to score large commissions.


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Stocks rise after Bernanke allays stimulus fear

NEW YORK — Stocks broke through record highs in early trading Thursday after Federal Reserve Chairman Ben Bernanke said the central bank is in no hurry to stop supporting the economy.

Bernanke said the U.S. economy still needed help because unemployment remains high and inflation is below the Fed's target. The Fed is currently buying $85 billion a month in bonds to keep interest rates low and to encourage spending and hiring. Bernanke made the comments in a speech late Wednesday after U.S. markets had closed.

The comments were the Fed's latest effort to reassure investors that it won't end its stimulus before it is sure the economy is strong enough. Both stocks and bonds fell sharply on June 19 after Bernanke laid out a potential timetable for when the Fed might start to wind down its bond-buying program.

Bernanke "certainly surprised the markets last night," said JJ Kinahan, Chief Derivatives Strategist for TD Ameritrade. "Many people had the expectation that there might be more pressure to (cut stimulus) soon."

The Standard & Poor's rose as high as 1,671 in early trading. It closed at a record high of 1,669 on May 21. The index was up 14 points, or 0.9 percent, at 1,666 as of 10:36 a.m. Eastern Daylight Time.

The Dow Jones industrial average rose 106 points, or 0.7 percent, to 15,400. It climbed as high as 15,456, above its own record high close of 15,409 set May 28.

The Nasdaq composite rose 34 points, or 1 percent, to 3,555. The Nasdaq is at its highest since October 2000 but is still well below the all-time high of 5,048 it reached March 10, 2000.

In government bond trading, the yield on the 10-year note fell to 2.59 percent from 2.63 percent Wednesday.

In commodities trading, the price of oil fell back from a 16-month high, dropping 83 cents, or 0.8 percent, to $105.66 a barrel. The price of gold rose for a fourth straight day, climbing $35.30, or 2.83 percent, to $1,283 an ounce.

Stock investors are also focusing on corporate earnings as companies start reporting results for the second quarter, which ended 11 days ago. S&P Capital IQ forecasts that companies in the S&P 500 will report average earnings growth of 3 percent compared with the same period a year ago.

JPMorgan and Wells Fargo report earnings Friday. Investors will be watching their results to see what impact rising interest rates are having on their business.

Among stocks making big moves:

— Bridgepoint Education rose $3.53, or 28 percent, to $16.25, after the for-profit education company said its Ashford University had won accreditation. Bridgepoint, which also operates the University of the Rockies, struggled with accreditation problems for much of 2012.

—Microsoft rose 64 cents, or 1.9 percent, to $35.36, after the company announced a major reorganization. The world's largest software maker has been struggling with a steady decline in PC demand as people turn to tablets and other mobile devices.

— Rockwell Medical Technologies Inc. jumped 84 cents, or 22 percent, to $4.58, after the drug developer said its experimental treatment for iron deficiency in kidney patients met its goals in a late-stage study, an important step toward approval of the treatment.

— Celgene rose $8.47, or 6.8 percent, $133.50 after the Swiss drugmaker said its cancer drug Revlimid met its goals in a late-stage study as a treatment for the blood cancer multiple myeloma.


22.26 | 0 komentar | Read More

EU partially lifts ban on Philippine airlines

Written By Unknown on Rabu, 10 Juli 2013 | 22.27

MANILA, Philippines — The European Union has partially lifted a ban on the entry of Philippine planes after aviation authorities in Manila addressed safety concerns, removing an obstacle to a robust flow of tourists and trade between Europe and the Southeast Asian nation, officials said Wednesday.

EU Ambassador to Manila Guy Ledoux said that the decision, which takes effect on Friday, will allow flag carrier Philippine Airlines to resume flights to Europe. More safety improvements will have to be made for other Philippine carriers, like budget airline Cebu Pacific Air, to follow, he said.

Philippine Airlines, which has recently acquired new long-haul Airbus aircraft, plans to resume flights to London, Paris, Rome and Amsterdam as early as September, company president Ramon Ang said at a news conference. He commended President Benigno Aquino III's government for dealing with significant safety issues that have hounded the country's aviation industry for years.

Cebu Pacific, the country's largest low-cost carrier, has complied with regulations and taken steps to deal with safety issues, but a recent accident involving one of its aircraft in southern Davao city revealed "some weaknesses" that still need to be addressed, Ledoux said.

The plane veered off the runway, and although no one was hurt, the aircraft was stuck on the runway for two days, and passengers complained that it took about 15 minutes for emergency slides to be deployed.

Philippine officials welcomed the EU decision. Presidential spokesman Edwin Lacierda said it will "boost tourism, enhance competitiveness and facilitate the entry of investments from the eurozone."

Manila also expects the U.S. Federal Aviation Administration to lift safety-linked restrictions later this year. Those restrictions have prohibited Philippine Airlines from expanding its flight operations in the United States and prevented other Manila-based carriers from opening air services to the U.S. mainland.

The European Commission banned all Philippine carriers from entering its airspace in March 2010 due to noncompliance with international safety standards.

The 2010 ban came after the International Civil Aviation Organization questioned whether Filipino aviation regulators could adequately ensure the safety of Philippine-registered airlines, and after the FAA downgraded the Philippines' safety rating. ICAO is the Montreal-based U.N. aviation safety agency.

John Andrews, deputy director-general of the Civil Aviation Authority of the Philippines, said problems in his agency that had drawn concern, such as the lack of a database on all registered Philippine aircraft, have been corrected.

Ledoux, the EU ambassador, said Philippine authorities also are addressing corruption. He mentioned a Manila news report about a former Philippine aviation official who was indicted for providing licenses to student pilots who had failed aviation proficiency tests.

"Clearly this is an issue that needed to be addressed and has been addressed," Ledoux said.


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US wholesale stockpiles shrink in May, sales rise

WASHINGTON — U.S. wholesalers cut back on restocking in May even as sales rose, indicating economic growth could pick up later this year as they rebuild their stockpiles.

The Commerce Department said Wednesday that wholesale stockpiles shrank 0.5 percent in May, the most in 20 months. That followed a 0.1 percent decline in April, which was revised lower.

Sales at the wholesale level jumped 1.6 percent in May and 0.7 percent in April.

A reduction in stockpiles may prompt economists to cut their growth forecasts for the April-June quarter. But the steady gain in sales suggests companies may have to order more goods in the coming months to keep up with demand. That could boost factory production and drive more economic growth in the second half of the year.

Auto sales jumped 3 percent in May, yet stockpiles were unchanged. And sales of durable goods, items meant to last at least three years, rose 0.3 percent, while inventories of those goods fell by the same amount.

Sales of nondurable goods rose 2.8 percent, the most in more than two years. The gain was driven by large increases in sales of clothing, groceries and pharmaceuticals. Stockpiles of those goods declined 0.8 percent.

Stockpiles of farm goods fell sharply for the second straight month, dropping 6 percent. That likely reflected the impact of a severe drought last year, which has resulted in lower stockpiles this spring.

Overall wholesale stockpiles totaled $500.9 billion in May, 3.3 percent higher than a year ago.

Much of the recent data suggest the second half of the year could be stronger, helped by steady job growth, a resilient consumer and a sustained recovery in housing.

Employers have added 202,000 jobs a month through the first six month of the year. That's up from 180,000 in the previous six months. More Americans are earning paychecks, which boosts overall income and supports more spending.

Job growth is being fueled in part by consumer spending and the housing recovery. Consumer confidence is at a 5½ year high and is helping drive up sales of homes and cars. From January through June, car sales reached their highest total for the first half of the year since 2007. And sales of previously occupied homes topped 5 million in May for the first time in 3 ½ years.

Still, unemployment remains high at 7.6 percent. And the economy grew at a subpar 1.8 percent annual rate in the January-March quarter. Many economists forecast that growth slowed further in the April-June quarter. One reason for the anticipated slowdown is weaker growth overseas has cut demand for U.S. exports.

Most economists forecast growth will rebound by the end of the year. According to the latest Associated Press Economy Survey, completed last month, economists expect growth will pick up to a 2.5 percent annual pace in the second half of the year.


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The price of surveillance: Gov't pays to snoop

WASHINGTON — How much are your private conversations worth to the government? Turns out, it can be a lot, depending on the technology.

In the era of intense government surveillance and secret court orders, a murky multimillion-dollar market has emerged. Paid for by U.S. tax dollars, but with little public scrutiny, surveillance fees charged in secret by technology and phone companies can vary wildly.

AT&T, for example, imposes a $325 "activation fee" for each wiretap and $10 a day to maintain it. Smaller carriers Cricket and U.S. Cellular charge only about $250 per wiretap. But snoop on a Verizon customer? That costs the government $775 for the first month and $500 each month after that, according to industry disclosures made last year to Rep. Edward Markey, D-Mass.

Meanwhile, email records like those amassed by the National Security Agency through a program revealed by former NSA systems analyst Edward Snowden probably were collected for free or very cheaply. Facebook says it doesn't charge the government for access. And while Microsoft, Yahoo and Google won't say how much they charge, the American Civil Liberties Union found that email records can be turned over for as little as $25.

Industry says it doesn't profit from the hundreds of thousands of government eavesdropping requests it receives each year, and civil liberties groups want businesses to charge. They worry that government surveillance will become too cheap as companies automate their responses. And if companies gave away customer records for free, wouldn't that encourage uncalled-for surveillance?

But privacy advocates also want companies to be upfront about what they charge and alert customers after an investigation has concluded that their communications were monitored.

"What we don't want is surveillance to become a profit center," said Christopher Soghoian, the ACLU's principal technologist. But "it's always better to charge $1. It creates friction, and it creates transparency" because it generates a paper trail that can be tracked.

Regardless of price, the surveillance business is growing. The U.S. government long has enjoyed access to phone networks and high-speed Internet traffic under the U.S. Communications Assistance for Law Enforcement Act to catch suspected criminals and terrorists. More recently, the FBI has pushed technology companies like Google and Skype to guarantee access to real-time communications on their services. And, as shown by recent disclosures about the NSA's surveillance practices, the U.S. intelligence community has an intense interest in analyzing data and content that flow through American technology companies to gather foreign intelligence.

The FBI said it could not say how much it spends on industry reimbursements because payments are made through a variety of programs, field offices and case funds. In an emailed statement, the agency said when charges are questionable, it requests an explanation and tries to work with the carrier to understand its cost structure.

Technology companies have been a focus of law enforcement and the intelligence community since 1994, when Congress allotted $500 million to reimburse phone companies to retrofit their equipment to accommodate wiretaps on the new digital networks.

But as the number of law enforcement requests for data grew and carriers upgraded their technology, the cost of accommodating government surveillance requests increased. AT&T, for example, said it devotes roughly 100 employees to review each request and hand over data. Likewise, Verizon said its team of 70 employees works around the clock, seven days a week to handle the quarter-million requests it gets each year.

To discourage gratuitous requests and to prevent losing money, industry turned to a section of federal law that allows companies to be reimbursed for the cost of "searching for, assembling, reproducing and otherwise providing" communications content or records on behalf of the government. The costs must be "reasonably necessary" and "mutually agreed" upon with the government.

From there, phone companies developed detailed fee schedules and began billing law enforcement much as they do customers. In its letter to Markey, AT&T estimated that it collected $24 million in government reimbursements between 2007 and 2011. Verizon, which had the highest fees but says it doesn't charge in every case, reported a similar amount, collecting between $3 million and $5 million a year during the same period.

Companies also began to automate their systems to make it easier. The ACLU's Soghoian found in 2009 that Sprint had created a website allowing law enforcement to track the location data of its wireless customers for only $30 a month to accommodate the approximately 8 million requests it received in one year.

Most companies agree not to charge in emergency cases like tracking an abducted child. They aren't allowed to charge for phone logs that reveal who called a line and how long they talked — such as the documents the Justice Department obtained about phones at The Associated Press during a leaks investigation — because that information is easily generated from automated billing systems.

Still, the fees can add up quickly. The average wiretap is estimated to cost $50,000, a figure that includes reimbursements as well as other operational costs. One narcotics case in New York in 2011 cost the government $2.9 million alone.

The system isn't a true market-based solution, said Al Gidari, a partner at the law firm Perkins Coie who represents technology and telecommunications companies on privacy and security issues. If the FBI or NSA needs data, those agencies would pay whatever it takes. But Gidari said it's likely that phone and technology companies undercharge because they don't want to risk being accused of making a false claim against the government, which carries stiff penalties.

Online companies in particular tend to undercharge because they don't have established accounting systems, and hiring staff to track costs is more expensive than not charging the government at all, he said.

"Government doesn't have the manpower to wade through irrelevant material any more than providers have the bandwidth to bury them in records," Gidari said. "In reality, there is a pretty good equilibrium and balance, with the exception of phone records," which are free.

Not everyone agrees.

In 2009, then-New York criminal prosecutor John Prather sued several major telecommunications carriers in federal court in Northern California in 2009, including AT&T, Verizon and Sprint, for overcharging federal and state police agencies. In his complaint, Prather said phone companies have the technical ability to turn on a switch, duplicate call information and pass it along to law enforcement with little effort. Instead, Prather says his staff, while he was working as a city prosecutor, would receive convoluted bills with extraneous fees. The case is pending.

"They were monstrously more than what the telecoms could ever hope to charge for similar services in an open, competitive market, and the costs charged to the governments by telecoms did not represent reasonable prices as defined in the code of federal regulations," the lawsuit said.

The phone companies have asked the judge to dismiss the case. Prather's lawsuit claims whistle-blower status. If he wins, he stands to collect a percentage — estimated anywhere from 12 percent to 25 percent — of the money recovered from the companies.

___

Follow Anne Flaherty on Twitter at https://twitter.com/AnneKFlaherty


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Senate to try again on student loan vote

WASHINGTON — Senate Democrats are trying to restore lower interest rates on student loans, a week after Congress' inaction caused those rates to double.

A procedural vote is scheduled for Wednesday on a Democratic-backed Senate measure that would return rates on subsidized Stafford loans to 3.4 percent for one year. An earlier attempt in the Senate to keep rates low came up short and rates for those loans doubled to 6.8 percent on July 1.

Ahead of the vote, the White House urged passage of a one-year extension.

Republicans, however, remained unimpressed with the plan and could scuttle the stopgap effort.

"This plan merely kicks the can down the road for 12 more months," said Sen. Richard Burr, R-N.C. "We're going to vote on a 3.4 percent extension, kicking the can down the road and not finding a solution."

The rate increase did not affect many students right away; loan documents are generally signed just before students return to campus, and few students returned to school over the July Fourth holiday. Existing loans were not affected, either.

However, absent congressional action in the coming weeks, the increase could spell an extra $2,600 for an average student returning to campus this fall, according to Congress' Joint Economic Committee. Lawmakers from both parties have criticized the increase and the costs passed to students, but there is little agreement on how to restore the lower rates.

"It's not fair for Democrats who run Washington to stand in students' way," said Rep. Cathy McMorris Rodgers of Washington state, a member of the House GOP leadership.

Countered Democratic Sen. Jack Reed of Rhode Island, "The Republican proposals are attractive in the short term but in the long term are extremely expensive."

During last year's presidential campaign, lawmakers from both parties voted to keep interest rates on subsidized Stafford loans at 3.4 percent. Yet this year, without a presidential election looming, the issue seemed to fizzle and the July 1 deadline passed without action.

Most Democratic senators favored keeping the rates at 3.4 percent for now and including a broad overhaul of federal student loans in the Higher Education Act rewrite lawmakers expect to take up this fall. Sen. Al Franken, D-Minn., said the matter needs to be viewed in a holistic way.

"How are we going to address the costs of college? How are we going to make college more affordable for our kids?" Franken said.

Yet an earlier Democratic attempt at a two-year extension failed to overcome a procedural hurdle before lawmakers left for the July Fourth holiday. Under Senate rules, 60 votes are needed to let the proposal go forward and Democrats alone cannot force it ahead.

A one-year extension seemed heading toward the same fate.

"What is good about a short-term political fix?" said Sen. Lamar Alexander of Tennessee, the top Republican on the Senate Education Committee.

Efforts to find a compromise seemed heading nowhere as well. Democratic Sen. Joe Manchin of West Virginia worked with Alexander to write a bipartisan bill that closely follows a bill the GOP-led House has already passed. That bill incorporated an idea that was included in President Barack Obama's budget to link interest rates to the financial markets.

Under the House plan, interest rates would be lower in the next few years but rise as the economy improves.

"That is not fair to students and it is certainly not good for our economy," said Sen. Patty Murray, D-Wash.

The Democratic chairman of the Education Committee, Sen. Tom Harkin of Iowa, also said the GOP proposal was not an option and stood opposed to considering it this summer. Instead, he insisted on a one-year extension of the current rates.

"Congress has an imperative to pass a plan to keep rates low now so that students and families struggling to afford college can count on affordable federal student loans," Harkin said.

Without an agreement, though, students are facing 6.8 percent interest rates on new subsidized Stafford loans, which typically go to students from lower- and middle-income families.

That is unacceptable, said Sen. Debbie Stabenow, D-Mich. "You can go out and get a car loan for 4 percent," she said.

Despite the widespread agreement that the current 6.8 percent interest rate is too high for students, there is little consensus on what to do.

House Speaker John Boehner, R-Ohio, has remained adamant that the chamber he leads has already taken action and it's up to the Senate to fall in line.

"Republicans have acted to stop student loans' interest rates from doubling," Boehner said. "The House has done its job. It's time for the Senate and the White House to do its job."

Senate Democratic leader Harry Reid has signaled he has no interest in anything beyond an extension of current rates until at least 2014 — when a third of the Senate and the full House face re-election.

"Speaker Boehner says the House has acted and the ball is in the Senate's court," Reid said. "But Democrats can't support a plan that would be worse for students than doing nothing at all."

___

Follow Philip Elliott on Twitter: http://www.twitter.com/philip_elliott


22.27 | 0 komentar | Read More

High-tech gadgets monitor seniors' safety at home

WASHINGTON — It could mean no more having to check up on Mom or Dad every morning: Motion sensors on the wall and a monitor under the mattress one day might automatically alert you to early signs of trouble well before an elderly loved one gets sick or suffers a fall.

Research is growing with high-tech gadgets that promise new safety nets for seniors determined to live on their own for as long as possible.

"It's insurance in case something should happen," is how Bob Harrison, 85, describes the unobtrusive monitors being tested in his apartment at the TigerPlace retirement community in Columbia, Mo.

Living at home — specialists call it aging in place — is what most people want for their later years. Americans 40 and older are just as worried about losing their independence later in life as they are about losing their memory, according to a recent survey by the Associated Press-NORC Center for Public Affairs Research.

Common-sense interventions like grab bars in bathrooms and taping down rugs to prevent tripping can make homes safer as seniors deal with chronic illnesses. Technology is the next frontier, and a far cry from those emergency-call buttons seniors sometimes wear to summon help.

Already, some companies are offering monitoring packages that place motion sensors on the front door, a favorite chair, even the refrigerator, and then send an alert to a family member if there's too little activity over a certain period of time. Other gadgets can make pill bottles buzz when it's time for a dose and text a caregiver if it's not taken, or promise to switch off a stove burner that's left on too long.

Researchers at the University of Missouri aim to go further: Their experiments show that certain automatic monitoring can spot changes — such as restlessness in bed or a drop in daytime activity — that occur 10 days to two weeks before a fall or a trip to the doctor or hospital.

"We were blown away that we could actually detect this," said nursing professor Marilyn Rantz, an aging-in-place specialist who is leading the research. She compares it to "a vital sign of my physical function."

Why would the gadgets work? That monitor under the mattress can measure pulse and respiratory patterns to see if heart failure is worsening before someone realizes he or she is becoming short of breath. More nighttime bathroom trips can indicate a brewing urinary tract infection.

A change in gait, such as starting to take shorter or slower steps, can signal increased risk for a fall. Basic motion sensors can't detect that. So Rantz's team adapted the Microsoft Kinect 3-D camera, developed for video games, to measure subtle changes in walking. (Yes, it can distinguish visitors.)

The researchers installed the sensor package in apartments at the university-affiliated TigerPlace community and in a Cedar Falls, Iowa, senior complex. On-site nurses received automatic emails about significant changes in residents' activity. One study found that after a year, residents who agreed to be monitored were functioning better than an unmonitored control group, presumably because nurses intervened sooner at signs of trouble, Rantz said.

The bigger question is whether simply alerting a loved one, not a nurse, might also help. Now, with a new grant from the National Institutes of Health, Rantz will begin expanding the research to see how this monitoring works in different senior housing — and this time, participants can decide if they'd like a family member or friend to get those alerts, in addition to a nurse.

Rantz says embedding sensors in the home is important because too many older adults forget or don't want to wear those older emergency-call buttons — including Rantz's own mother, who lay helpless on her floor for eight hours after tripping and badly breaking a shoulder. Rantz said her mother never fully recovered, and six months later died.

"When we started this team, I said we are not going to make anybody wear anything or push any buttons, because my mother refused and I don't think she's any different than a lot of other people in this world," Rantz said.

Monitoring raises important privacy questions, about just what is tracked and who has access to it, cautioned Jeff Makowka of AARP.

To work, the high-tech approach has to be "less about, 'We're watching you, Grandma,' but 'Hey, Grandma, how come you didn't make coffee this morning?'" he said.

Sensor prices are another hurdle, although Makowka said they're dropping. Various kinds already on the market can run from about $70 to several hundred, plus monthly service plans.


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Kroger to buy Harris Teeter for about $2.44B

Written By Unknown on Selasa, 09 Juli 2013 | 22.27

NEW YORK — Kroger, the country's largest traditional supermarket operator, said Tuesday that it has agreed to buy Harris Teeter Supermarkets Inc. for about $2.44 billion in cash, boosting its presence in key southeastern and mid-Atlantic markets.

Under the terms of the agreement, Cincinnati-based Kroger will pay $49.38 for each of the supermarket chain's shares. The price represents a 2 percent increase over the company's Monday closing stock price.

"This is a financially and strategically compelling transaction and a unique opportunity for our shareholders and associates," Kroger Chairman and CEO David Dillon said in a statement.

The deal has been approved by both companies' boards, but remains subject to Harris Teeter shareholder approval. Harris Teeter announced in February that it was exploring strategic alternatives, including a possible sale.

Harris Teeter operates 212 stores in eight southeastern and mid-Atlantic states and Washington D.C., along with a pair of distribution centers and a dairy facility in North Carolina. Its fiscal 2012 revenue totaled about $4.5 billion.

In comparison, Kroger operates 2,419 stores in 31 states. In addition to its flagship brand of supermarkets, it also owns Ralphs, Fry's, Food 4 Less and other brands. The acquisition adds another three states to its store footprint.

In a conference call with investors, J. Michael Schlotman, who is Kroger's chief financial officer, said the deal marks Kroger's entry into several attractive, high-growth markets such as Charlotte, N.C., and Washington D.C.

Of Harris Teeter's 212 stores, 138 are located in North Carolina, with 55 of those in the Charlotte area. Another 55 stores are located in the Washington D.C., area, Schlotman said.

After the deal closes, Harris Teeter will become a Kroger subsidiary and will continue to be led by members of its current senior management.  There are no plans to close stores and the division will remain based in Matthews, N.C.

Kroger Co. says it expects the deal to result in cost savings of $40 million to $50 million over the next three to four years. It will finance the deal with debt and plans to assume Harris Teeter's outstanding debt of about $100 million.

In morning trading, Harris Teeter shares rose 47 cents to $48.99, while Kroger shares rose $1.10, or 3 percent, to $37.29.


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US job openings, hiring rise slightly in May

WASHINGTON — U.S. employers advertised slightly more jobs in May and hired more workers, further signs of steady improvement in the job market.

The Labor Department said Tuesday that job openings rose 28,000 to 3.83 million in May from April. That's close to February's 3.9 million, which was the highest in five years.

A measure of overall hiring increased 46,000 to 4.4 million. That's still lower than a year ago.

The job market remains competitive, despite stronger hiring this year. There are nearly 3.1 unemployed, on average, for each open job. That's down from a peak four years ago of nearly 7 to 1. In a healthy economy, the ratio is typically 2 to 1.

The Job Openings and Labor Turnover survey comes after the government said last week that employers added 195,000 net jobs in June. Last week's report showed all jobs added, minus the number of people who were laid off, quit or retired. The unemployment rate was unchanged at still-high 7.6 percent.

In May, nearly all the openings were at retail businesses, a sign that many of the jobs being created are low paying. Openings in retail rose nearly 80,000. Government and construction firms also posted more jobs: Each advertised 4,000 new positions.

Most other industries cut openings, including manufacturing, hotels and restaurants, and health care.

Still, the number of people who quit their jobs ticked up about 20,000 to 2.2 million. That's often a sign that people are feeling better about the job market. Most people quit their jobs when they have another job or when they are confident enough in the job market that they can find one quickly.

The job market has improved this year, even after sharp tax increases kicked in Jan. 1 and government spending cuts took effect March 1. Employers have added an average of 202,000 net jobs a month in the first half of this year. That's up from an average of 180,000 in the previous six.

Job growth is being fueled in part by consumer spending and the housing recovery. Consumer confidence is at a 5½ year high and is helping drive up sales of homes and cars.

Auto sales from January through June topped 7.8 million, their best first half since 2007, according to Autodata Corp. and Ward's AutoInfoBank. Sales of previously occupied homes exceeded 5 million in May, the first time that's happened since November 2009. New-home sales rose at their fastest pace in five years.

A stronger economy makes it more likely that the Federal Reserve could begin to taper its stimulus later this year. Chairman Ben Bernanke said last month that the Fed would slow its bond purchases later this year and end them next year if the economy continues to improve.

Bernanke and Fed Vice Chair Janet Yellen have both said that they monitor the job openings report for signs that the job market is improving in a sustainable way.

The Fed will release minutes from its June meeting Wednesday. The report should provide further insight into what Bernanke and other policymakers are thinking.


22.26 | 0 komentar | Read More

Greek municipal workers strike for 2nd day

ATHENS, Greece — Greek municipal workers went on strike for the second day Tuesday to protest their inclusion in a government plan to reduce the number of civil servants and meet criteria for the country to continue receiving vital funds from its international bailout.

Up to 3,000 striking municipal workers marched through the streets of central Athens in their second demonstration in as many days to voice their objections to the civil servants' reduction scheme.

The 24-hour strike comes a day after Greece's creditors approved the disbursement of 6.8 billion euros ($8.7 billion) from the rescue package that is keeping the country afloat.

But in order to continue receiving the money, Greece must stick to the agenda of cuts and reforms it has agreed to, including the firing of several thousand civil servants.

The government must put 12,500 civil servants on administrative leave by the end of 2013, with the possibility of dismissal. They include 2,200 school security personnel; 3,500 members of the Athens municipal police, which will then be disbanded and absorbed into Greece's police force; at least 2,000 local government employees; 1,500 teachers; and employees of various ministries.

Those affected will be paid 75 percent of their normal salary and be subject to dismissal if they aren't transferred to other state agencies within eight months.

Greece has been dependent on billions of euros in rescue loans from other European countries that use the euro as their currency and from the International Monetary Fund since 2010, when it found itself unable to borrow money on the international bond market.

In return, its economy has been put under strict supervision by the IMF, European Central Bank and European Commission, whose envoys, known collectively as the troika, visit the country at regular intervals to check on progress of promised reforms. Greece has taken a series of austerity measures, including slashing pensions and salaries and repeatedly raising taxes.

Despite the reforms — or, some critics say, because of the emphasis on austerity measures — the country's economy is struggling through a sixth year of recession, with unemployment at above 27 percent.

The troika warned in a statement issued Monday that while Greece's finances were improving, reforms were being implemented too slowly and the outlook for the country's economic recovery remained uncertain.


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US safety agency investigating Hyundai Santa Fe

DETROIT — U.S. safety regulators are investigating complaints that the Hyundai Santa Fe sport utility vehicle can suddenly lose power.

The National Highway Traffic Safety Administration says it has two complaints that the right-front axle shaft can fail on 2013 models.

The investigation covers about 50,000 vehicles. Investigators will determine if the problem is big enough to require a recall.

No injuries or crashes have been reported.

In both complaints, owners reported a loud noise and said their SUVs wouldn't move. In both cases the vehicles had less than 5,000 miles on them.

NHTSA began its investigation on July 5, the agency said in documents posted Tuesday on its website.

In one complaint, an owner told NHTSA there was a loud bang under the SUV as it was being driven out of a subdivision. After that it would not move in drive or reverse. The owner called Hyundai's roadside assistance number, and the Santa Fe was towed to a dealership, where technicians found a cracked axle.

"They are fixing it, but I did tell them that I will be leery driving it again," the owner said in the complaint.

Owners are not identified in complaints filed with NHTSA.

Hyundai is cooperating with the investigation and says it's too early in the process to draw any conclusions, spokesman Miles Johnson said in a statement.

In a separate case, NHTSA has decided not to seek a recall of the 2011 Santa Fe because of a steering problem.

The agency began investigating about 70,000 of the SUVs in October of 2012 because a fastener could come loose, causing the steering shaft to come apart. If that happens, drivers could lose control of the SUVs. The agency received one complaint about the problem, while Hyundai had three.

NHTSA said in documents posted last week that Hyundai traced the problem to operator error at its assembly plant. The company made changes at the plant to stop the problem from happening and said it occurred on only a few vehicles. NHTSA said there haven't been any failures since the changes were made.


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Boehner to Obama: Why a break for businesses only?

WASHINGTON — Framing a new argument against President Barack Obama's health care law, congressional GOP leaders called Tuesday for a delay in the law's requirement that individual Americans carry health insurance.

If the White House can grant a one-year delay for employers — as the administration did just last week — individuals should get the same consideration, House Speaker John Boehner of Ohio and other senior Republicans said in a letter to the president.

"Your decision to delay one part of the law affecting employers and leave in place provisions regulating individual and family health care creates many new questions and concerns," the GOP leaders wrote. "We agree with you that the burden was overwhelming for employers, but we also believe American families need the same relief."

The White House had no immediate response to Boehner's demand.

Republicans hope their new argument will gain traction in next year's congressional elections, as the law's big push to cover the uninsured gets underway. Foes are betting the coverage rollout will be full of problems, particularly since about half the states have refused to support the federal effort.

Under the law, middle-class people with no access to job-based coverage will be eligible for subsidized private insurance, while low-income uninsured people will be steered to an expanded version of Medicaid in states that accept it.

The health care law contains coverage requirements for individuals as well as companies with 50 or more workers. Both requirements were originally scheduled to take effect next Jan. 1.

Last week, the White House unexpectedly announced a one-year delay in the employer requirement, saying the administration needed more time to work out technical details that employers find too burdensome. Some saw a political motive, since Republicans have criticized the requirement on businesses as a "job killer."

But administration officials said that the individual mandate would remain in place.

The two requirements are different. While the mandate on individuals is expected to play a major role in getting people to sign up for coverage, the employer requirement is more of a backstop, designed to deter companies from shifting to the government their traditional role in providing health benefits.

The individual mandate applies to virtually every U.S. resident, with exceptions for financial hardship, people who entered the country illegally, and prison inmates. The coverage requirement survived a determined legal challenge by "Obamacare" opponents. A divided Supreme Court upheld the mandate last year, reasoning that the penalties which enforce it are taxes constitutionally levied by Congress.

Those individual penalties start small — as little as $95 next year — but they build up with time.

The GOP leaders' letter also requested that the administration provide detailed information on the impact of its decision to delay the employer mandate.


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Appeals court hearing BP challenge on spill claims

Written By Unknown on Senin, 08 Juli 2013 | 22.26

NEW ORLEANS — A federal appeals court is hearing BP's bid to challenge what could be billions of dollars in settlement payouts to businesses claiming they lost money after the company's 2010 oil spill in the Gulf of Mexico.

Lawyers for BP and Gulf Coast businesses and residents began arguments Monday before a three-judge panel of the 5th U.S. Circuit Court of Appeals in New Orleans.

BP wants the panel to overturn a federal judge's ruling that upheld a court-appointed claims administrator's interpretation of the settlement.

BP claims the administrator has allowed thousands of businesses to secure hundreds of millions of dollars in payments for inflated and fictitious losses.

Plaintiffs' lawyers counter that BP underestimated how many claimants would qualify for payments.


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Companies move ahead with Bangladesh safety accord

NEW YORK — A group of primarily European retailers and clothing makers said Monday that it plans to inspect clothing factories in Bangladesh that make garments for the companies within the next nine months and will concentrate renovations on those that pose the biggest safety threat.

The group of 70 companies includes Swedish retailer H&M, Italian clothing maker Benetton and French retailer Carrefour. Under the companies' agreement, they are required to pay administrative costs for the inspections, training and other programs. And they're also responsible for ensuring that "sufficient funds are available to pay for renovations and other safety improvements.

The details of the legally binding five-year pact come after negotiating with worker rights' groups and other organizations on how the plan should be carried out. The plan, announced in mid-May, initially had 30 companies signing on. The plan covers anywhere from 800 to about 1,000 of the 5,000 garment factories in Bangladesh.

"''Our mission is clear: to ensure the safety of all workers in the Bangladesh garment industry," said Jyrki Raina, general secretary of IndustriALL Global Union, a Geneva-based labor union involved in the negotiations.

Stores and clothing makers face increasing pressure to step up oversight of Bangladeshi factories following a building collapse in April that killed 1,129 workers there. The tragedy, the deadliest incident in the history of the garment industry, came just months after a fire in another garment factory in Bangladesh in November killed 112 workers.

Only a handful of U.S. companies have committed to the global pact and include PVH Corp., the New York-based parent company of Tommy Hilfiger; and Abercrombie & Fitch of New Albany, Ohio.

Many U.S. merchants say they were averse to signing on to the global pact because they believe it exposed them to unlimited liability. Instead, Wal-Mart, Gap and others are part of a coalition of U.S. merchants and garment makers developing an alternative plan. They're closely working with former U.S. Sens. George Mitchell and Olympia Snowe. The details are expected to be announced later this month.

As part of the global plan pushed by IndustriALL and other worker rights groups, if a factory is identified as an immediate threat by either an inspection or worker reports, the factory owner will be told to cease operations pending investigation or repairs.

With the involvement of the local unions, factory workers will be informed of the potential danger and their right to refuse to enter a potentially unsafe building. A viable plan with renovations and repairs undertaken to address the hazards will be produced and workers will be paid while the factory remains closed.

According to the agreement, funds used to pay for renovations may be generated through negotiated commercial terms, joint investments, direct payment for improvements, government and other donor support or any combination.

All seventy companies have been asked to send in data about factories they use by July 15. The information includes names, addresses and the physical layout of the facilities. The inspection reports will be made public.

Six executive members of the steering committee have been elected and including officials of IndustriALL Global Union, UNI Global Union and the Bangladesh Council of Trade Unions as well as representatives of companies that have signed on to the pact. They include Inditex, N. Brown Group and PVH Corp. The International Labor Organization has designated a senior representative to serve as chairperson.

The group has also begun to recruit both the chief safety inspector and the executive director.


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Fiat exercises option to buy more Chrysler stock

DETROIT — Italian automaker Fiat has exercised a third option to buy a small amount of Chrysler stock, but the sale won't go through until a U.S. court settles a dispute over the price.

Fiat said Monday that it offered $254.7 million for another 3.3 percent of Chrysler's outstanding equity.

Fiat already owns 58.5 percent of Chrysler, with the remaining 41.5 percent held by a trust that pays medical bills for retired United Auto Workers union members. The Italian company wants to buy all of the trust's stock and fully merge Chrysler and Fiat.

The price on the options will be settled by a judge in Delaware Chancery Court, and the ruling is likely to set the price for the trust's remaining Chrysler stake. For several months, Fiat has been trying to arrange financing to buy the trust's stock. Fiat expects a court ruling sometime this month.

"I hope to close (the deal) as soon as possible if they let me do it," the Italian news agency LaPresse quoted Fiat and Chrysler CEO Sergio Marchionne as saying at an appearance Monday in Turin, Italy, Fiat's headquarters city.

Fiat now has exercised options to buy 9.9 percent more Chrysler stock. The Italian automaker has options to buy 3.3 percent of Chrysler stock every six months until it gets another 16.6 percent. The options are part of the deal in which Fiat and Marchionne were appointed to manage Chrysler in 2009 by the U.S. government. The government bailed out the struggling Chrysler and funded its trip through bankruptcy restructuring.

Since then, Fiat has raised its stake in the resurgent Chrysler, and Marchionne is merging the companies to generate more cost savings from joint research, management and purchasing.

Once it gains control of the whole company, Fiat is considering a plan to hold an initial public stock offering, which would raise much-needed money for research on new vehicles at both companies, and could help Fiat weather the economic downturn in Europe.

Fiat SpA shares are now traded publicly on the Milan stock exchange, while Chrysler is technically a private company with no publicly traded shares. Presumably, Fiat shareholders would be offered a stake in the new company if they approve the merger.

Merging the companies would give Fiat access to Chrysler's cash. Currently, Fiat shares in Chrysler's profits but can't use the Detroit automaker's funds for its own operations. Fiat lost $108 million in the first quarter, while Chrysler made $166 million. Without Chrysler, Fiat would have lost $1.41 billion last year. Chrysler had $11.9 billion in cash as of March 31.

Like Fiat, the trust got its stake in Chrysler from the government as part of the 2009 bankruptcy. At the time Chrysler owed the trust around $4 billion as part of a deal with the UAW to take over retiree health care costs.

The trust fund needs cash to pay medical bills for thousands of Chrysler blue-collar retirees. In order to monetize its stake in Chrysler, it either has to sell the shares to another party, such as Fiat, or sell to the public — which could happen if Fiat and the trust can't agree on a share price.

The trust has asked Fiat to begin working on an IPO of Chrysler, but cannot formally compel it to follow through; a public offering takes about 18 months to prepare. Marchionne has said he favors buying the trust's stake to a public sale.

Marchionne has already taken steps to combine Fiat and Chrysler. The companies are sharing engines and parts and have jointly designed cars like the Dodge Dart compact. The balance sheets are already combined, although there is a strict separation of assets.


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Al-Jazeera kicked out of Egypt news conference

CAIRO — Journalists for the pan-Arab broadcaster Al-Jazeera have been kicked out of a news conference being held by Egypt's military on the killing of at least 40 people, most of them supporters of Egypt's ousted president, outside an army facility.

Qatar-based Al-Jazeera was founded by the Gulf nation's ruling family. The tiny but wealthy country was a strong supporter of Egyptian President Mohammed Morsi, who was toppled by the military on Wednesday.

The station broadcast graphic images of those killed and wounded in the violence Monday outside a military facility.

During the news conference, one journalist stood up and demanded Al-Jazeera reporters be excluded from the proceedings.

The Al-Jazeera reporters eventually stood up and walked out accompanied by chants of "Out! Out!" from others in the crowd.


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Thomson Reuters suspends early data access

Thomson Reuters will suspend its practice of distributing results from consumer surveys a couple seconds early to clients who pay the news and business information provider for advance access.

A company spokeswoman said Monday that Thomson Reuters will simultaneously distribute survey data at 9:55 a.m. starting Friday from the University of Michigan Surveys of Consumers after the New York State attorney general requested the suspension.

The attorney general's office is investigating the early data access, and Thomson Reuters said it is cooperating with that review.

That twice-monthly survey is separate from the consumer confidence index produced by the private research group the Conference Board.

Thomson Reuters pays for exclusive access to the University of Michigan results, and some of its clients have been paying extra to receive the data two seconds before other clients receive it at 9:55 a.m. This allows high-speed computers to make trades before others gain access to the data.

Thomson Reuters then sends out a press release about the survey at 10 a.m.

Modern stock trading is dominated by automated computer systems that make trades in fractions of a second, and traders can profit from receiving data even milliseconds before its public release. Consumer sentiment regarding the economy is watched closely because consumers' spending accounts for about 70 percent of U.S. economic activity.

The New York Times reported that the attorney general's investor protection bureau is looking at whether preferential disclosure of data is a fair and appropriate business practice.

Thomson Reuters said in an emailed statement it "strongly believes that news and information companies can legally distribute non-governmental data and exclusive news through services provided to fee-paying subscribers."

"It is widely understood that news and information companies compete for exclusive news and differentiated content to help their customers make better informed trading and investment decisions," the statement said.

Company spokeswoman Yvonne Diaz added that Thomson Reuters has always been transparent about how it releases proprietary data so its customers can chose the level of service they want.

Last month, the Conference Board announced that it will no longer provide its economic reports in advance to news organizations because it suspects the data is being diverted early to computer-driven trading systems, which can unfairly profit from it.

It had long provided its monthly data to reporters 30 minutes before the information is publicly released. That early access allowed journalists to prepare news reports ahead of the information's public release.

Last year, the Labor Department revoked early access to its employment data for several companies that deliver data to high-speed traders but produce little or no original news content.


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Loyalty cards not going away

Written By Unknown on Minggu, 07 Juli 2013 | 22.26

When Shaw's Supermarkets ended its 13-year-old loyalty card program, it bucked a well-established retail practice of collecting as much data as possible about customers and their buying habits.

With the move, the West Bridgewater chain — according to retail marketing experts — essentially abandoned the best way to connect with shoppers.

"I don't think you're going to see more retailers following suit," said Bill Bishop, an Illinois supermarket consultant. "It represents a bet that they can be successful without having a one-on-one connection with their shoppers, and I don't think that's true today."

Shaw's new parent company, AB Acquisitions, eliminated loyalty cards last month in its various supermarket chains, including its flagship Albertsons.

In lieu of the cards — which gave shoppers, in exchange for their participation in the program, access to discounts and special offers — Shaw's said it's lowering prices on thousands of items for all shoppers.

"Tracking individual shopping habits isn't as critical to our overall strategy development as knowing what our customers in our neighborhoods are shopping for at each store," spokesman Steve Sylven said. "We can track item movement by store to derive much of the data that we need to make purchasing and market decisions."

But Shaw's is an anomaly, according to Florida retail marketing consultant Mark Heckman.

"There's a world of opportunity now with just knowing what category customers are shopping in, because there's nutritional information and a lot of other things that retailers are starting to get content on to target (them)," he said.

Quincy's Stop & Shop operates one of the best loyalty card programs, Heckman said, aggressively using customer data to target its best shoppers and segment shoppers according to behavior.

Stop & Shop debuted its card in 1994, and customer benefits include weekly specials, items on sale for multiple weeks and other promotional programs, including gas rewards.

"We benefit as a business to better know what customers want and need from us," spokeswoman Suzi Robinson said. "There are various aspects of data we evaluate — from shopping frequency to what customers buy."

But Shaw's is following a few other grocery chains that focus on price in lieu of loyalty cards, including Hannaford Supermarkets.

"We've never had one," said Michael Norton, spokesman for the Maine-based chain. "We've always had what the industry refers to as 'everyday low prices.' There's a cost associated with (loyalty cards), which makes it harder to offer the pricing you want."


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Ex-fans line up in Mass. to dump Hernandez jersey

FOXBOROUGH, Mass. — Hundreds of one-time fans are trading in their Aaron Hernandez jerseys.

The New England Patriots are letting fans trade in their No. 81 jerseys for a different one on Saturday and Sunday.

The ex-Patriots tight end has been charged with the murder in the death of 27-year-old semi-pro football player Odin Lloyd. He has pleaded not guilty.

The Patriots released Hernandez shortly after he was arrested on June 26.

Team spokesman Stacey James says children love wearing Patriots gear but may not understand why their parents don't want them wearing Hernandez's jersey.

The jerseys must have been purchased at the team shop at Gillette Stadium or its online store.


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Moms create laundry-free sheets, linens

Sure, all parents worry when they send their kids off to college for the first time. But by the end of the first semester, Kirsten Lambert and Joan Ripple discovered a very disturbing fact: College kids hate to wash their bed sheets, so they don't ... for weeks, even months.

"We joked about sending them paper sheets you find in doctors' offices," Ripple said.

Instead, the two Hingham mothers founded Beantown Bedding and introduced Bedsox laundry-free linens.

Bedsox, they say, are comfortable to sleep on, hypoallergenic and can be used for weeks, making them ideal for college, camp, vacation homes and home health care.

They're also chemical- and dye-free and made from wood pulp, which makes them biodegradable and compostable.

Prices range from $9.99 for a set of two pillowcases to $25 for a twin sheet set and $27.99 for a queen sheet set.

Their motto: "Just toss, don't wash!"

Before launching their website last summer, Lambert and Ripple tested their products with students at 22 universities, including Stonehill College and Boston University.

Today, Bedsox are at universities in Massachusetts and 11 other states, where they're used for academic and sports camps.

Lambert and Ripple are also exploring other markets, including lodging facilities, the military and prisons.

"Our goal is to provide a convenient product," Ripple said, "but also to give back to society in some way."

So Beantown Bedding donates sheets to Camp Sunshine, a retreat in Sebago, Maine, for children with life-threatening illnesses and their families, who would otherwise be asked to bring sheets of their own.

In May, Lambert and Ripple found out their company was among 128 finalists MassChallenge had chosen out of 1,200 applicants to compete in its four-month accelerator and $1.3 million competition.

"I called Joan and said, 'I just want to know if you're ready,' and she said, 'For what?'" Lambert said. "I said, 'To move into One Marina Park Drive (MassChallenge's offices)," and then she screamed. It's like being accepted into Harvard."


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Flying car on a roll

Fifteen months after it created a sensation at the New York International Auto Show, Terrafugia's "flying car" will make its first airshow appearance later this month, as the Woburn company works on a next-generation prototype.

The Transition is scheduled to fly and drive July 31 at the Experimental Aircraft Association AirVenture in Oshkosh, Wisc.

"We've had the vehicle on display there since 2006, and every year, people ask us when they can see it fly," said Richard Gersh, vice president of business development. "So we're very excited about the chance to demonstrate before a very large and enthusiastic crowd."

The company did a demonstration at Lawrence Municipal Airport last October for a select group of investors and prospective buyers, Gersh said, but AirVenture will be the Transition's first airshow.

The road-ready light sport aircraft still has a long way to go before it's ready for production, though.

In August 2012, Terrafugia said it had received more than 100 orders for the $279,000 aircraft, and the first delivery was expected this September.

But testing — and a new prototype that could be done by the end of this year — has pushed back that date to early 2015 or 2016, assuming the Transition wins certification from the Federal Aviation Administration and the National Highway Traffic Safety Administration.

"Based on what we've learned from testing, our engineers have called for some changes," Gersh said. "But the overall look of the vehicle will be very similar."

Robert Mann, an airline industry analyst and former airline industry executive, said the delays are indicative of the central problem Terrafugia faces.

"You see the difficulty in trying to be a compromise between a land vehicle and an aircraft," Mann said. "When you compromise, you tend to not do either very well."

But Jake Schultz, a technical analyst for Boeing and author of "A Drive in the Clouds: The Story of the Aerocar," tips his hat to how far the Transition has come.

"I ... look forward to what this team still has in their old kit bag," Schultz wrote in an email. "Their team has not sat on the sidelines and talked about what could be done some day. They are out working every day to actually make it happen. There have only been two flying cars that have been certified — the Aerocar and the Airphibian — so theirs will be the first in nearly 60 years."


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