Heath Ledger Found Dead in NYC at Age 28
NEW YORK (AP) - Heath Ledger was found dead Tuesday in a Manhattan apartment, naked in bed with sleeping pills nearby, police said. The Australian-born actor was 28. It wasn't immediately clear if Ledger had committed suicide. He had an appointment for a massage at the residence in the tony neighborhood of SoHo, NYPD spokesman Paul Browne said.
A housekeeper who went to let him know the massage therapist had arrived found him dead at 3:26 p.m.
Ledger's body had not been removed from the building where paparazzi and gawkers gathered outside, and several police officers put up barricades to control the crowd of about 300. A medical examiner's office van arrived with a gurney Tuesday evening.
An autopsy was planned for Wednesday, medical examiner's office spokeswoman Ellen Borakove said.
While not a marquee movie star, Ledger was a respected, award-winning actor who chose his roles carefully rather than cashing in on his heartthrob looks. He was nominated for an Oscar for his performance as a gay cowboy in ``Brokeback Mountain,'' where he met Michelle Williams, who played his wife in the film. The two had a daughter, now 2-year-old Matilda, and lived together in Brooklyn until they split up last year.
It was a shocking and unforeseen conclusion for one of Hollywood's bright young stars. Though his leading man looks propelled him to early stardom in films like ``10 Things I Hate About You'' and ``A Knight's Tale,'' his career took a notable turn toward dramatic and brooding roles with 2001's ``Monster's Ball.''
``I had such great hope for him,'' said Mel Gibson, who played Ledger's vengeful father in ``The Patriot,'' in a statement from the actor's publicist. ``He was just taking off and to lose his life at such a young age is a tragic loss. My thoughts and prayers are with him and his family.''
Ledger eschewed Hollywood glitz in favor of a bohemian life in Brooklyn, where he was one of the borough's most famous residents. ``Brokeback'' would be his breakthrough role, establishing him as one of his generation's finest talents and an actor willing to take risks.
Ledger began to gravitate more toward independent fare, including Lasse Hallstrom's ``Casanova'' and Terry Gilliam's ``The Brothers Grimm,'' both released in 2005. His 2006 film ``Candy'' now seems destined to have an especially haunting quality: In a particularly realistic performance, Ledger played a poet wrestling with a heroin addiction along with his girlfriend, played by Abbie Cornish.
But Ledger's most recent choices were arguably the boldest yet: He costarred in ``I'm Not There,'' in which he played one of the many incarnations of Bob Dylan - as did Cate Blanchett, whose performance in that film earned an Oscar nomination Tuesday for best supporting actress.
And in what may be his final finished performance, Ledger proved that he wouldn't be intimidated by taking on a character as iconic as Jack Nicholson's Joker. Ledger's version of the Batman villain, glimpsed in early teaser trailers, made it clear that his Joker would be less comical and more depraved and dark.
Curiosity to see Ledger's final performance will likely further stoke interest in the summer blockbuster. ``Dark Knight'' director Christopher Nolan said earlier this month that Ledger's performance as the Joker would be wildly different than Jack Nicholson's memorable turn in 1989's ``Batman.''
``It was a very great challenge for Heath,'' Nolan said. ``He's extremely original, extremely frightening, tremendously edgy. A very young character, a very anarchic presence that taps into a lot of our basic fears and panic.''
Ledger told The New York Times in a November interview that he ``stressed out a little too much'' during the Dylan film, and had trouble sleeping while portraying the Joker, whom he called a ``psychopathic, mass-murdering, schizophrenic clown with zero empathy.''
``Last week I probably slept an average of two hours a night,'' Ledger told the newspaper. ``I couldn't stop thinking. My body was exhausted, and my mind was still going.'' He said he took two Ambien pills, which only worked for an hour, the paper said.
Before settling down with Williams, Ledger had relationships with actresses Heather Graham and Naomi Watts. He met Watts while working on ``The Lords of Dogtown,'' a fictionalized version of a cult classic skateboarding documentary, in 2004.
Ledger was born in 1979 in Perth, in western Australia, to a mining engineer and a French teacher, and got his first acting role playing Peter Pan at age 10 at a local theater company. He began acting in independent films as a 16-year-old in Sydney and played a cyclist hoping to land a spot on an Olympic team in a 1996 television show, ``Seat.''
After several independent films, Ledger moved to Los Angeles at age 19 and costarred opposite Julia Stiles in ``10 Things I Hate About You.'' Offers for other teen flicks soon came his way, but Ledger turned them down, preferring to remain idle than sign on for projects he didn't like.
``It wasn't a hard decision for me,'' Ledger told the Associated Press in 2001. ``It was hard for everyone else around me to understand. Agents were like, `You're crazy,' my parents were like, `Come on, you have to eat.'''
Source: The Associated Press
Tuesday, January 22, 2008
Billy Poole Dies In Accident
Pro extreme skier Billy Poole killed during filming in Big Cottonwood Canyon
Professional extreme skier Billy Poole died this afternoon after taking a fall while filming in Big Cottonwood Canyon between Solitude and Brighton ski resorts.
Salt Lake County Sheriff's Office spokesman Paul Jaroscak said the 28-year-old died around 1:30 p.m. at University Hospital. Poole was filming a jump, had a bad landing, and possibly hit some rocks, Jaroscak said. Earlier reports of an avalanche in the area were false, he said.
Poole was filming in the area with Boulder, Colo.-based Warren Miller Entertainment. A spokesman reached at the company's corporate headquarters said the company is still trying to learn details about the accident and will release a statement later today.
Poole was one of dozens of skiers sponsored by Black Diamond, a ski and climbing equipment distributor in Salt Lake City. The company's Web site includes an interview with Poole about a trip to Argentina, where he skied and filmed over the summer.
Penn Newhard, a public relations specialist for Backbone Media, which represents Black Diamond, called Poole "a hard working" athlete who was well-liked on the ski circuit.
"He was highly regarded as an up and coming and talented young athlete," said Newhard, noting Poole was a "super personable young man."
Poole was making a name for himself on the slopes and was a positive ambassador for Utah's ski scene, said Nathan Rafferty, president of Ski Utah --the state's ski and snowboard association.
"It's really sad news," Rafferty said. "He was a phenomenal athlete and a great representative of Utah's ski community."
Source: The Salt Lake Tribune
Professional extreme skier Billy Poole died this afternoon after taking a fall while filming in Big Cottonwood Canyon between Solitude and Brighton ski resorts.
Salt Lake County Sheriff's Office spokesman Paul Jaroscak said the 28-year-old died around 1:30 p.m. at University Hospital. Poole was filming a jump, had a bad landing, and possibly hit some rocks, Jaroscak said. Earlier reports of an avalanche in the area were false, he said.
Poole was filming in the area with Boulder, Colo.-based Warren Miller Entertainment. A spokesman reached at the company's corporate headquarters said the company is still trying to learn details about the accident and will release a statement later today.
Poole was one of dozens of skiers sponsored by Black Diamond, a ski and climbing equipment distributor in Salt Lake City. The company's Web site includes an interview with Poole about a trip to Argentina, where he skied and filmed over the summer.
Penn Newhard, a public relations specialist for Backbone Media, which represents Black Diamond, called Poole "a hard working" athlete who was well-liked on the ski circuit.
"He was highly regarded as an up and coming and talented young athlete," said Newhard, noting Poole was a "super personable young man."
Poole was making a name for himself on the slopes and was a positive ambassador for Utah's ski scene, said Nathan Rafferty, president of Ski Utah --the state's ski and snowboard association.
"It's really sad news," Rafferty said. "He was a phenomenal athlete and a great representative of Utah's ski community."
Source: The Salt Lake Tribune
Tom Brady Boot – On His Foot
FOXBOROUGH, Mass. (AP) — Has Tom Brady given the boot to the boot? Hours after being photographed with a walking boot on his right foot as he followed girlfriend Gisele Bundchen into her New York apartment on Monday, other pictures showed the New England Patriots quarterback wearing black shoes — and no boot — when he showed up at a New York hotspot.
The Web site PageSix.com had two photos — credited to INFDaily.com — that showed Brady wearing blue jeans and a black sweater with the black shoes and no boot. In one photo, he was followed by Bundchen as they arrived at the club Butter in New York, the Web site said.
Earlier Monday, several Web sites had photos — credited to infphoto.com — that showed Brady wearing a walking boot on his right foot. A video of Brady walking with a slight limp from an SUV to Bundchen's home is also available on TMZ.com.
Brady, this season's NFL MVP, and the New England Patriots are headed to the Feb. 3 Super Bowl against the New York Giants.
The chief of the foot and ankle division at Brigham and Women's Hospital in Boston said Brady doesn't appear to be seriously injured.
Dr. Chris Chiodo, who is not treating Brady, said he has used a boot to treat several ailments, including a sprain, a strain, a bone bruise, tendinitis or overuse of the foot. He said he strongly doubted Brady had a displaced fracture.
"I don't think he'd be walking on it if that were the case," Chiodo, an orthopedic surgeon told The Associated Press in a telephone interview.
Patriots spokesman Stacey James said the team had no comment. Brady's agent, Donald Yee, did not return a phone call or e-mail seeking comment.
Brady did not appear to be limping during Sunday's game before he was sacked by Igor Olshansky and Stephen Cooper with just over eight minutes to go. He had thrown three interceptions before that. After the sack, he completed all four of his passes.
Brady has been extremely durable in his NFL career. He started his 126th consecutive game Sunday when the Patriots beat San Diego 21-12 in the AFC championship. In that game, the Chargers' Philip Rivers took all his team's snaps and threw for 211 yards despite arthroscopic surgery on his right knee six days earlier.
The Patriots backup quarterbacks are Matt Cassel and Matt Gutierrez. Cassel has thrown 39 passes in his three NFL seasons, all with New England. Gutierrez, a rookie, completed the only pass he threw this season.
Coach Bill Belichick was not available for comment Tuesday. He was not asked about Brady's physical condition during his news conference Monday. Players were given three days off after Sunday's game and were not available.
During his weekly radio appearance on WEEI on Monday, Brady was asked if his leg was injured.
"Ah, you know, there's always bumps and bruises. I'll be ready for the Super Bowl," he said before the photos and video emerged. "I'm not worried about that. I'm not missing this one. I'd have to be on a stretcher to miss this one. There will be treatment this week. In games like this, you get a little nicked up. It's nothing serious."
Source: The Associated Press
The Web site PageSix.com had two photos — credited to INFDaily.com — that showed Brady wearing blue jeans and a black sweater with the black shoes and no boot. In one photo, he was followed by Bundchen as they arrived at the club Butter in New York, the Web site said.
Earlier Monday, several Web sites had photos — credited to infphoto.com — that showed Brady wearing a walking boot on his right foot. A video of Brady walking with a slight limp from an SUV to Bundchen's home is also available on TMZ.com.
Brady, this season's NFL MVP, and the New England Patriots are headed to the Feb. 3 Super Bowl against the New York Giants.
The chief of the foot and ankle division at Brigham and Women's Hospital in Boston said Brady doesn't appear to be seriously injured.
Dr. Chris Chiodo, who is not treating Brady, said he has used a boot to treat several ailments, including a sprain, a strain, a bone bruise, tendinitis or overuse of the foot. He said he strongly doubted Brady had a displaced fracture.
"I don't think he'd be walking on it if that were the case," Chiodo, an orthopedic surgeon told The Associated Press in a telephone interview.
Patriots spokesman Stacey James said the team had no comment. Brady's agent, Donald Yee, did not return a phone call or e-mail seeking comment.
Brady did not appear to be limping during Sunday's game before he was sacked by Igor Olshansky and Stephen Cooper with just over eight minutes to go. He had thrown three interceptions before that. After the sack, he completed all four of his passes.
Brady has been extremely durable in his NFL career. He started his 126th consecutive game Sunday when the Patriots beat San Diego 21-12 in the AFC championship. In that game, the Chargers' Philip Rivers took all his team's snaps and threw for 211 yards despite arthroscopic surgery on his right knee six days earlier.
The Patriots backup quarterbacks are Matt Cassel and Matt Gutierrez. Cassel has thrown 39 passes in his three NFL seasons, all with New England. Gutierrez, a rookie, completed the only pass he threw this season.
Coach Bill Belichick was not available for comment Tuesday. He was not asked about Brady's physical condition during his news conference Monday. Players were given three days off after Sunday's game and were not available.
During his weekly radio appearance on WEEI on Monday, Brady was asked if his leg was injured.
"Ah, you know, there's always bumps and bruises. I'll be ready for the Super Bowl," he said before the photos and video emerged. "I'm not worried about that. I'm not missing this one. I'd have to be on a stretcher to miss this one. There will be treatment this week. In games like this, you get a little nicked up. It's nothing serious."
Source: The Associated Press
Apple Earnings Are Up
Apple Earnings Up, but Stock Falls on Outlook
Apple beat Wall Street expectations with its earnings report Tuesday, but shares of its stock fell more than 11 percent in after-hours trading as investors fretted over its future.
Apple earned $1.58 billion, or $1.76 per diluted share, in the first quarter of fiscal 2008, compared to $1 billion, or $1.14 a share, in the same period in 2007. Revenue was $9.6 billion, up from $7.1 billion.
But while Apple executives touted those as record-setting figures, investors focused on projections for the next quarter which were lower than what analysts had expected. Apple said it expected revenue of about $6.8 billion for the second quarter, or diluted earnings of 94 cents a share.
Peter Oppenheimer, Apple’s chief financial officer, gave two reasons for the lower forecast: a decline in software sales and the normal slowdown in business after Christmas.
When asked whether the lumbering economy could be a factor in Apple’s earnings outlook, Mr. Oppenheimer said: “We’ll leave the economic forecasting to others.” Instead he said, “our focus is on managing our business.”
A slowdown in the economy is likely to hurt technology companies like Apple, which are dependent on consumers shelling out hundreds of dollars for their gadgets. Just last week Sprint Nextel announced that it was losing customers more quickly than expected, raising fears that spending on cellphones and other devices was slowing across the industry. Intel was also cautious about its financial outlook last week, in part because of concerns about a recession.
A Jan. 18 report by Bernstein Research, an independent research firm, said sales of Mac computers could start showing lower year-over-year growth. And sales of the iPod, the report noted, could become a little less dazzling in light of the fact that Apple has not updated the iPod Shuffle, and holiday sales of MP3 players at the retailer Best Buy were down.
The iPhone remained a bright spot for the company. Apple sold 2.3 million in the quarter, according to Mr. Oppenheimer, and is on track to sell 10 million as projected in 2008.
At the Macworld Expo last week, Steven P. Jobs, Apple’s chief executive, made several announcements about new products or expanded services, including a new ultralight computer called the MacBook Air which, while elegant, has limited memory. Mr. Jobs also announced a deal with all of Hollywood’s major studios to allow digital movie rentals through its iTunes store.
Source: The New York Times
Apple beat Wall Street expectations with its earnings report Tuesday, but shares of its stock fell more than 11 percent in after-hours trading as investors fretted over its future.
Apple earned $1.58 billion, or $1.76 per diluted share, in the first quarter of fiscal 2008, compared to $1 billion, or $1.14 a share, in the same period in 2007. Revenue was $9.6 billion, up from $7.1 billion.
But while Apple executives touted those as record-setting figures, investors focused on projections for the next quarter which were lower than what analysts had expected. Apple said it expected revenue of about $6.8 billion for the second quarter, or diluted earnings of 94 cents a share.
Peter Oppenheimer, Apple’s chief financial officer, gave two reasons for the lower forecast: a decline in software sales and the normal slowdown in business after Christmas.
When asked whether the lumbering economy could be a factor in Apple’s earnings outlook, Mr. Oppenheimer said: “We’ll leave the economic forecasting to others.” Instead he said, “our focus is on managing our business.”
A slowdown in the economy is likely to hurt technology companies like Apple, which are dependent on consumers shelling out hundreds of dollars for their gadgets. Just last week Sprint Nextel announced that it was losing customers more quickly than expected, raising fears that spending on cellphones and other devices was slowing across the industry. Intel was also cautious about its financial outlook last week, in part because of concerns about a recession.
A Jan. 18 report by Bernstein Research, an independent research firm, said sales of Mac computers could start showing lower year-over-year growth. And sales of the iPod, the report noted, could become a little less dazzling in light of the fact that Apple has not updated the iPod Shuffle, and holiday sales of MP3 players at the retailer Best Buy were down.
The iPhone remained a bright spot for the company. Apple sold 2.3 million in the quarter, according to Mr. Oppenheimer, and is on track to sell 10 million as projected in 2008.
At the Macworld Expo last week, Steven P. Jobs, Apple’s chief executive, made several announcements about new products or expanded services, including a new ultralight computer called the MacBook Air which, while elegant, has limited memory. Mr. Jobs also announced a deal with all of Hollywood’s major studios to allow digital movie rentals through its iTunes store.
Source: The New York Times
Louisiana Caucus And Republicans
Republicans to elect delegates and alternates at caucuses today
Delegates and alternates to Louisiana's state Republican Convention will be elected at caucuses today at 11 caucus locations throughout Louisiana.
Fifteen delegates and 15 alternates from each congressional district in Louisiana will be elected.
The 4th Congressional District caucuses will be from 5 p.m. to 8 p.m. at the CenturyTel Center in Bossier City.
The Louisiana caucuses are part of the process to the Republican nomination for president. The party's nominating convention will be held Sept. 1-4 in Minneapolis-St. Paul.
The Louisiana delegates to the Republican National Convention will be elected at the Louisiana Republican Convention on Feb. 16 at the Old State Capitol in Baton Rouge.
The Louisiana delegates to the Republican National Convention will consist of three delegates and three alternates from each congressional district and 23 delegates and 23 alternates to be elected at large at the state convention.
From The Associated Press
Delegates and alternates to Louisiana's state Republican Convention will be elected at caucuses today at 11 caucus locations throughout Louisiana.
Fifteen delegates and 15 alternates from each congressional district in Louisiana will be elected.
The 4th Congressional District caucuses will be from 5 p.m. to 8 p.m. at the CenturyTel Center in Bossier City.
The Louisiana caucuses are part of the process to the Republican nomination for president. The party's nominating convention will be held Sept. 1-4 in Minneapolis-St. Paul.
The Louisiana delegates to the Republican National Convention will be elected at the Louisiana Republican Convention on Feb. 16 at the Old State Capitol in Baton Rouge.
The Louisiana delegates to the Republican National Convention will consist of three delegates and three alternates from each congressional district and 23 delegates and 23 alternates to be elected at large at the state convention.
From The Associated Press
Mary Kate Olson In The News
Heath Ledger Found Dead Inside Apartment Owned by Mary Kate Olson
Heath Ledger, the 28-year-old Oscar nominated actor and most recent portrayer of the Joker in the Batman series, “The Dark Knight,” was found dead inside a Manhattan apartment owned by Mary Kate Olson.
According to the NYPD, a housekeeper at the apartment had gone to wake Ledger up for a scheduled massage but discovered the actor was unresponsive. By the time police had arrived Ledger was dead. There were several over-the-counter sleeping pills discovered by the bed.
While an overdose is suspected it has not been confirmed.
Ledger had recently finished filming his role as The Joker for the film “The Dark Knight,” the sequel to “Batman Begins.”
Ledger had a 2-year-old daughter, Matilda, with his former fiancée Michelle Williams.
Source: finditt.com
Heath Ledger, the 28-year-old Oscar nominated actor and most recent portrayer of the Joker in the Batman series, “The Dark Knight,” was found dead inside a Manhattan apartment owned by Mary Kate Olson.
According to the NYPD, a housekeeper at the apartment had gone to wake Ledger up for a scheduled massage but discovered the actor was unresponsive. By the time police had arrived Ledger was dead. There were several over-the-counter sleeping pills discovered by the bed.
While an overdose is suspected it has not been confirmed.
Ledger had recently finished filming his role as The Joker for the film “The Dark Knight,” the sequel to “Batman Begins.”
Ledger had a 2-year-old daughter, Matilda, with his former fiancée Michelle Williams.
Source: finditt.com
What’s Happening To Mortgage Rates
Stocks Fall Sharply After Fed Rate Cut
NEW YORK (AP) — An unusual emergency interest rate cut by the Federal Reserve gave Wall Street a partial rebound Tuesday from a precipitious early decline — and perhaps the first steps toward a long-term recovery. The rest of the comeback, for the economy as well as the stock market, may depend on a turnaround in the battered housing market and renewed confidence among U.S. consumers.
The Dow Jones industrial average, down 465 points shortly after trading began, bounced around throughout the session before closing with a milder drop of 128.11, or 1.06 percent, at 11,971.19, according to preliminary calculations.
U.S. stocks began the day following the lead of markets abroad that had plummeted for two straight days, and also extended their own steep losses from last week. Fears of a U.S. recession — one that would spread to other economies — had investors fleeing stocks worldwide.
The Fed, in a step anticipated by many traders, moved before the opening of trading, cutting its benchmark federal funds rate by 0.75 percentage point to 3.50 percent and the discount rate, the interest the Fed charges banks directly, to 4 percent. What was unusual was the reduction's coming between regularly scheduled meetings of the central bank's policy-making Open Markets Committee; the next gathering is a week away.
Also, the cut was larger than the half-percentage point expected to be announced at the end of that two-day meeting, and the widest cut in the target fed funds rate on records going back to 1990.
The fact stocks didn't continue their steep plunge — the Dow fell 277 points on Tuesday and 307 on Thursday — was a positive sign, but economists and analysts said a full recovery wasn't likely in the near term.
One of the market's greatest concerns is that consumers, who normally account for two-thirds of the economy, aren't in a position to spend the country back into solid growth. Even if rates continue to fall, Americans have been showing increasing signs of cutting back rather than borrowing or spending, even during the holiday season.
"People are up to their eyeballs in debt, and they're being asked to borrow more," said Mike Schenk, senior economist for the Credit Union National Association.
"This is a cure for the wrong disease. It makes everybody feel good, but it's not going to have any ongoing benefit," said Daniel Alpert, managing director of Westwood Capital LLC. "We need to get ourselves out of a mountain of debt and overvalued properties."
But interest rate reductions are one strategy the Fed has used in previous crises to help the economy recover. A rate cut tends to spur the economy by making it cheaper for businesses to borrow money. It would also lighten the burden on people with credit card debt and mortgages that have adjustable rates.
Still, its effect on Wall Street wasn't overwhelmingly positive. The Standard & Poor's 500 index, the broad market measure most closely followed by traders, fell 14.69, or 1.11 percent, to 1,310.50, while the Nasdaq composite index lost 47.75, or 2.04 percent, to 2,292.27.
Stocks have been beaten down for months amid the housing and mortgage crisis that began with a stream of failed home loans to consumers with poor credit. The Dow, for example, is down nearly 10 percent since the beginning of the year — logging its worst first 14 trading days of the year ever. It is more than 15 percent since its record close of 14,16.53 on Oct. 9, and is at its lowest close since Oct. 17, 2006.
Investors are well aware that housing worries remain: Many adjustable-rate mortgages — similar to those that went bad last year — will still be adjusted higher, and home prices are expected to keep falling this year. Financial companies have lost billions due to those mortgages, retail sales are falling and companies in general aren't on a spending spree.
Investors, institutional and individual, are also in a defensive mode, one that an interest cut won't immediately change. In the week ended Jan. 15, when many on Wall Street believed a rate cut was in the offing, investors shoveled money into cash reserves at a record pace, according to iMoneyNet. Assets in money market funds ballooned by $15.7 billion to a high of $3.17 trillion.
And investors pulled an estimated $18.2 billion from mutual funds and exchange-traded funds, which group baskets of investments under one security, according to TrimTabs Investment Research. So far this year, investors have shifted $41.4 billion out of these investments.
Richard Resch, a 60-year-old salesman at a steamship company, said he met two nights ago with his financial planner to rebalance his money from an 80-20 split in stocks and bonds to a more conservative 50-50 split. His planner told him to hang in there.
"There's no point in panicking now," said Resch, who lives in Long Valley, N.J. "If you see me jump out of a window six months from now, you'll know I was wrong."
For the market to truly gain a foothold, investors need to see strong economic and earnings data in the coming months, including earnings reports and forecasts this week from big multinational companies like Microsoft Corp., AT&T Inc., Caterpillar Inc. and Honeywell International Inc. The market also needs to hear that financial institutions like Citigroup Inc. and Merrill Lynch & Co., which have lost billions due to investments in failed mortgages, are on their way to solid earnings as well.
"If that doesn't happen, then all this is a short-term bottom before a resumption of selling," said Peter Boockvar, equity strategist at Miller Tabak.
What it might take to ultimately turn the market around is its own dynamics. When investors feel the market has indeed gone as low as it should, they'll start buying, even if the economy is not yet barreling higher. The pack mentality of Wall Street could be the market's biggest driver — it's what triggered comebacks in the past, and one reason experts say long-term investors should sit tight.
A recovery might take months or years. After the technology bust of 2000 and the terrorist attacks of Sept. 11, 2001 sent Wall Street into a deep bear market, the market took several years to turn around — and at that time, Americans had something sure, something physical, to put their money and confidence in: their homes.
That economic pillar, which helped support spending, has cracked. People who took out giant mortgages with tiny down payments, or who used their homes' value to borrow money, no longer have the security of home equity amid a slumping housing market.
Moreover, banks that were burned writing mortgages for consumers with shaky credit are now wary of lending, especially since other types of consumer debt, including car loans and credit cards, are seeing defaults rise.
The Bush administration has proposed ways to ease Americans' plight, first with a plan to prevent more mortgages from going sour, and, last week, with an economic stimulus packing that included $145 billion in tax cuts. On Tuesday, the White House said President Bush won't rule out the possibility of a larger package.
But like interest rate cuts, a stimulus package, which would first need the approval of Congress, would not work immediately.
"Economists are not generally impressed by a fiscal stimulus, because it takes a long time to produce the desired effect," said the Credit Union National Association's Schenk. He explained that some people — shrewdly — would save the money they receive instead of spend it.
European stocks joined their U.S. counterparts in rebounding after the Fed's rate reduction. Britain's FTSE 100 rose 2.90 percent, France's CAC-40 rose 2.07 percent, Germany's DAX index pared its loss to 0.31 percent.
In Asian trading, which ended before the Fed move, Japan's Nikkei stock average closed down 5.65 percent — its biggest percentage drop in nearly a decade. Hong Kong's Hang Seng index lost 8.65 percent a day after showing its biggest losses since the Sept. 11, 2001, attacks.
In other trading Tuesday, the yield on the benchmark 10-year Treasury note, which moves opposite its price, sank to 3.48 percent from 3.63 percent late Friday.
Crude oil prices fell 72 cents to settle at $89.85 a barrel on the New York Mercantile Exchange on concerns that a weak economy will dampen energy demand. The dollar fell against most other major currencies except the yen, while gold rose.
SOURCE: The Associated Press
NEW YORK (AP) — An unusual emergency interest rate cut by the Federal Reserve gave Wall Street a partial rebound Tuesday from a precipitious early decline — and perhaps the first steps toward a long-term recovery. The rest of the comeback, for the economy as well as the stock market, may depend on a turnaround in the battered housing market and renewed confidence among U.S. consumers.
The Dow Jones industrial average, down 465 points shortly after trading began, bounced around throughout the session before closing with a milder drop of 128.11, or 1.06 percent, at 11,971.19, according to preliminary calculations.
U.S. stocks began the day following the lead of markets abroad that had plummeted for two straight days, and also extended their own steep losses from last week. Fears of a U.S. recession — one that would spread to other economies — had investors fleeing stocks worldwide.
The Fed, in a step anticipated by many traders, moved before the opening of trading, cutting its benchmark federal funds rate by 0.75 percentage point to 3.50 percent and the discount rate, the interest the Fed charges banks directly, to 4 percent. What was unusual was the reduction's coming between regularly scheduled meetings of the central bank's policy-making Open Markets Committee; the next gathering is a week away.
Also, the cut was larger than the half-percentage point expected to be announced at the end of that two-day meeting, and the widest cut in the target fed funds rate on records going back to 1990.
The fact stocks didn't continue their steep plunge — the Dow fell 277 points on Tuesday and 307 on Thursday — was a positive sign, but economists and analysts said a full recovery wasn't likely in the near term.
One of the market's greatest concerns is that consumers, who normally account for two-thirds of the economy, aren't in a position to spend the country back into solid growth. Even if rates continue to fall, Americans have been showing increasing signs of cutting back rather than borrowing or spending, even during the holiday season.
"People are up to their eyeballs in debt, and they're being asked to borrow more," said Mike Schenk, senior economist for the Credit Union National Association.
"This is a cure for the wrong disease. It makes everybody feel good, but it's not going to have any ongoing benefit," said Daniel Alpert, managing director of Westwood Capital LLC. "We need to get ourselves out of a mountain of debt and overvalued properties."
But interest rate reductions are one strategy the Fed has used in previous crises to help the economy recover. A rate cut tends to spur the economy by making it cheaper for businesses to borrow money. It would also lighten the burden on people with credit card debt and mortgages that have adjustable rates.
Still, its effect on Wall Street wasn't overwhelmingly positive. The Standard & Poor's 500 index, the broad market measure most closely followed by traders, fell 14.69, or 1.11 percent, to 1,310.50, while the Nasdaq composite index lost 47.75, or 2.04 percent, to 2,292.27.
Stocks have been beaten down for months amid the housing and mortgage crisis that began with a stream of failed home loans to consumers with poor credit. The Dow, for example, is down nearly 10 percent since the beginning of the year — logging its worst first 14 trading days of the year ever. It is more than 15 percent since its record close of 14,16.53 on Oct. 9, and is at its lowest close since Oct. 17, 2006.
Investors are well aware that housing worries remain: Many adjustable-rate mortgages — similar to those that went bad last year — will still be adjusted higher, and home prices are expected to keep falling this year. Financial companies have lost billions due to those mortgages, retail sales are falling and companies in general aren't on a spending spree.
Investors, institutional and individual, are also in a defensive mode, one that an interest cut won't immediately change. In the week ended Jan. 15, when many on Wall Street believed a rate cut was in the offing, investors shoveled money into cash reserves at a record pace, according to iMoneyNet. Assets in money market funds ballooned by $15.7 billion to a high of $3.17 trillion.
And investors pulled an estimated $18.2 billion from mutual funds and exchange-traded funds, which group baskets of investments under one security, according to TrimTabs Investment Research. So far this year, investors have shifted $41.4 billion out of these investments.
Richard Resch, a 60-year-old salesman at a steamship company, said he met two nights ago with his financial planner to rebalance his money from an 80-20 split in stocks and bonds to a more conservative 50-50 split. His planner told him to hang in there.
"There's no point in panicking now," said Resch, who lives in Long Valley, N.J. "If you see me jump out of a window six months from now, you'll know I was wrong."
For the market to truly gain a foothold, investors need to see strong economic and earnings data in the coming months, including earnings reports and forecasts this week from big multinational companies like Microsoft Corp., AT&T Inc., Caterpillar Inc. and Honeywell International Inc. The market also needs to hear that financial institutions like Citigroup Inc. and Merrill Lynch & Co., which have lost billions due to investments in failed mortgages, are on their way to solid earnings as well.
"If that doesn't happen, then all this is a short-term bottom before a resumption of selling," said Peter Boockvar, equity strategist at Miller Tabak.
What it might take to ultimately turn the market around is its own dynamics. When investors feel the market has indeed gone as low as it should, they'll start buying, even if the economy is not yet barreling higher. The pack mentality of Wall Street could be the market's biggest driver — it's what triggered comebacks in the past, and one reason experts say long-term investors should sit tight.
A recovery might take months or years. After the technology bust of 2000 and the terrorist attacks of Sept. 11, 2001 sent Wall Street into a deep bear market, the market took several years to turn around — and at that time, Americans had something sure, something physical, to put their money and confidence in: their homes.
That economic pillar, which helped support spending, has cracked. People who took out giant mortgages with tiny down payments, or who used their homes' value to borrow money, no longer have the security of home equity amid a slumping housing market.
Moreover, banks that were burned writing mortgages for consumers with shaky credit are now wary of lending, especially since other types of consumer debt, including car loans and credit cards, are seeing defaults rise.
The Bush administration has proposed ways to ease Americans' plight, first with a plan to prevent more mortgages from going sour, and, last week, with an economic stimulus packing that included $145 billion in tax cuts. On Tuesday, the White House said President Bush won't rule out the possibility of a larger package.
But like interest rate cuts, a stimulus package, which would first need the approval of Congress, would not work immediately.
"Economists are not generally impressed by a fiscal stimulus, because it takes a long time to produce the desired effect," said the Credit Union National Association's Schenk. He explained that some people — shrewdly — would save the money they receive instead of spend it.
European stocks joined their U.S. counterparts in rebounding after the Fed's rate reduction. Britain's FTSE 100 rose 2.90 percent, France's CAC-40 rose 2.07 percent, Germany's DAX index pared its loss to 0.31 percent.
In Asian trading, which ended before the Fed move, Japan's Nikkei stock average closed down 5.65 percent — its biggest percentage drop in nearly a decade. Hong Kong's Hang Seng index lost 8.65 percent a day after showing its biggest losses since the Sept. 11, 2001, attacks.
In other trading Tuesday, the yield on the benchmark 10-year Treasury note, which moves opposite its price, sank to 3.48 percent from 3.63 percent late Friday.
Crude oil prices fell 72 cents to settle at $89.85 a barrel on the New York Mercantile Exchange on concerns that a weak economy will dampen energy demand. The dollar fell against most other major currencies except the yen, while gold rose.
SOURCE: The Associated Press
Fred Thompson Is Out
Fred Thompson Out of Race
Former senator Fred Thompson (Tenn.) bowed to the obvious moments ago, dropping out of the 2008 presidential race in a tersely-worded statement.
"Today I have withdrawn my candidacy for President of the United States," read the statement. "I hope that my country and my party have benefited from our having made this effort. Jeri and I will always be grateful for the encouragement and friendship of so many wonderful people."
Those close to Thompson say that his mind has been elsewhere since his disappointing third place finish in South Carolina's Republican presidential primary because he has been in Tennessee caring for his mother who is seriously ill. Those same sources suggested that Thompson is not likely to immediately endorse any of the remaining candidates in the field.
Source: Washington Post
Former senator Fred Thompson (Tenn.) bowed to the obvious moments ago, dropping out of the 2008 presidential race in a tersely-worded statement.
"Today I have withdrawn my candidacy for President of the United States," read the statement. "I hope that my country and my party have benefited from our having made this effort. Jeri and I will always be grateful for the encouragement and friendship of so many wonderful people."
Those close to Thompson say that his mind has been elsewhere since his disappointing third place finish in South Carolina's Republican presidential primary because he has been in Tennessee caring for his mother who is seriously ill. Those same sources suggested that Thompson is not likely to immediately endorse any of the remaining candidates in the field.
Source: Washington Post
Michelle Williams, Former Fiancée Of Health Ledger
Ledger dies less than 2 years after extolling quiet life in Cdn interview
TORONTO - It was less than two years ago that Australian actor Heath Ledger extolled the virtues of living a quiet life in an interview conducted during the Toronto International Film Festival.
Looking relaxed, the actor - found dead in his Manhattan apartment Tuesday in what police described as a possibly drug-related death - discussed how much he revelled in being a father for the first time. His daughter, Matilda, with actress Michelle Williams, was just a baby at the time.
"I'm up at 5:30 or 6 every morning, and in bed at 9," the actor, dressed casually in jeans, a T-shirt and sneakers, told The Canadian Press. "I get much more done now; I feel more focused. And I actually need to go to bed at 9 now - I feel it in my bones."
Ledger, who was nominated for a best actor Oscar for his moving portrayal of a gay cowboy in the groundbreaking "Brokeback Mountain," was in Toronto in the fall of 2006 promoting his film "Candy." He played a heroin addict in the movie.
"I had no real desire to play a junkie," Ledger said in an interview at a downtown hotel. "But love is very important in my life and it's something I am always interested to find within a story. But I like it to be smuggled or disguised in other backdrops."
Less than a year after the interview, Ledger and Williams split up. In the months since their breakup last August, numerous stories have surfaced not only about Ledger's apparently chilling turn as a malevolent Joker in the upcoming Batman movie, "The Dark Knight," but also on his frequently dishevelled appearance.
Polite, soft-spoken and friendly during the interview, Ledger turned serious when discussing fame, expressing surprise that he was an object of fascination to the public and dismay at the media frenzy surrounding fellow stars like Tom Cruise and Brad Pitt.
"We've tried to cater our lives and our professional lives towards not getting to that place," Ledger said of his life with Williams.
At the time, the couple lived in a modest neighbourhood in Brooklyn, New York, where they did their own grocery shopping, had their neighbours over for dinner and were competing in a "greenest block in Brooklyn" contest.
"I don't need to own a skyscraper and I don't need to fly my own jet," the Aussie actor said. "I don't need all those things so therefore I don't need to get myself in that position, trapped within my own empire. And it is a choice. You choose to get there."
Source: The Canadian Press
TORONTO - It was less than two years ago that Australian actor Heath Ledger extolled the virtues of living a quiet life in an interview conducted during the Toronto International Film Festival.
Looking relaxed, the actor - found dead in his Manhattan apartment Tuesday in what police described as a possibly drug-related death - discussed how much he revelled in being a father for the first time. His daughter, Matilda, with actress Michelle Williams, was just a baby at the time.
"I'm up at 5:30 or 6 every morning, and in bed at 9," the actor, dressed casually in jeans, a T-shirt and sneakers, told The Canadian Press. "I get much more done now; I feel more focused. And I actually need to go to bed at 9 now - I feel it in my bones."
Ledger, who was nominated for a best actor Oscar for his moving portrayal of a gay cowboy in the groundbreaking "Brokeback Mountain," was in Toronto in the fall of 2006 promoting his film "Candy." He played a heroin addict in the movie.
"I had no real desire to play a junkie," Ledger said in an interview at a downtown hotel. "But love is very important in my life and it's something I am always interested to find within a story. But I like it to be smuggled or disguised in other backdrops."
Less than a year after the interview, Ledger and Williams split up. In the months since their breakup last August, numerous stories have surfaced not only about Ledger's apparently chilling turn as a malevolent Joker in the upcoming Batman movie, "The Dark Knight," but also on his frequently dishevelled appearance.
Polite, soft-spoken and friendly during the interview, Ledger turned serious when discussing fame, expressing surprise that he was an object of fascination to the public and dismay at the media frenzy surrounding fellow stars like Tom Cruise and Brad Pitt.
"We've tried to cater our lives and our professional lives towards not getting to that place," Ledger said of his life with Williams.
At the time, the couple lived in a modest neighbourhood in Brooklyn, New York, where they did their own grocery shopping, had their neighbours over for dinner and were competing in a "greenest block in Brooklyn" contest.
"I don't need to own a skyscraper and I don't need to fly my own jet," the Aussie actor said. "I don't need all those things so therefore I don't need to get myself in that position, trapped within my own empire. And it is a choice. You choose to get there."
Source: The Canadian Press
Actor Heath Ledger Dies
Acting was therapy for heartthrob Heath Ledger
January 22, 2008
The following interview with Heath Ledger was pubished in the Sun-Times on Nov. 18, 2007, upon the release of the film “I’m Not There,” in which Ledger portrayed one of several alter-egos of singer-songwriter Bob Dylan.
Heath Ledger is one heartthrob who is all there. The 28-year-old Aussie with the sleepy eyes and mop of messy blond hair is the first one to admit that acting is therapy for him and he brings everything pent up inside of himself to the big screen.
"I'm lucky in a sense because I have a job where I get to scream and cry," he says. "I get to purge myself in ways that don't really affect me personally.
"When the director yells cut, I just walk out the door and I'm back into my regular life," he says.
Of course, nothing has been regular about Ledger's life since he came on the scene in the teen romance "10 Things I Hate About You" and then received raves years later in "Brokeback Mountain." These days he's starring for director Todd Haynes in his ambitious new film about the many lives of singer, poet and American icon Bob Dylan called "I'm Not There."
Ledger joins a stellar cast including Christian Bale, Cate Blanchett, Marcus Carl Franklin, Richard Gere and Ben Whishaw, who each play Dylan at different parts of his life. Ledger's slice of all things Dylan comes by playing the music man during his star days when he could be found at parties with other beautiful people. On the streets this Dylan hid behind sunglasses and wanted to be left alone because he wasn't always so happy. His private life couldn't withstand the hoopla of his stardom.
"The film doesn't sum up Dylan's life or try to explain it all," Ledger says. "We're just representing aspects of his life during different periods of it."
Ledger says that he loved the idea of playing Dylan. "I found the connection obviously through his music," Ledger says. "You can't help but fall in love with his lyrics or should I say his poetry?"
To get into character, Ledger was given photos of Dylan that were from the mid '60s when the rocker spent his time in New York City hanging out and trying to avoid the press with his dark glasses that also blotted out the rest of the world. Everyone involved in the film is quick to caution that they're not exactly playing Dylan as Dylan but a vision of him or a Dylanesque sort of character.
"It was an incredible experience," Ledger says. "I consider (director) Todd Haynes to be a genius."
Ledger won't rate all the Dylans in the film, but mentions that Blanchett blew him away. "Cate has given such an incredible transformation," Ledger says. "She will really blow people away. I mean, she walks, talks, sings and smells like Bob Dylan."
Ledger will also play The Joker in the upcoming "The Dark Knight" due out in July of 2008.
"I was a fan of the comic book character," Ledger says of The Joker. "Somewhere inside of me, I kind of knew instantly that I wanted to do it. I didn't feel like I had to search for it.
"I felt like I had a plan of attack with it," he says. "That usually dictates whether I want to do something or not -- if I have an understanding of it straight away."
He says that the film "is the most fun I've ever had with a character and the most fun I probably ever will have even though at the end of the day I was absolutely wrecked." He adds that his Joker "has zero empathy" for Batman or anyone else in Gotham City. Ledger's intention from the start was to be the fierce, scary Joker. "He's really full of surprises. But I can say that I wanted him to be very sinister."
Ledger was born in Perth in Western Australia. As his story goes, he was required in school to take either acting or cooking as an elective. "I absolutely couldn't cook," Ledger insists.
Ledger made his American debut in the film "Two Hands" (1999), but became a teen heartthrob with "10 Things I Hate About You" (1999). He decided to buck that image with films including "The Patriot" (2000), "Monster's Ball" (2001) and "Ned Kelly" (2003).
He says that indie films are one of his favorites these days. "I think you're generally granted more freedom," Ledger says. "Whether or not you have a better outcome is relative to the person making the film. But I think that generally, if it's money coming from an alternate source other than a studio then you have that freedom.
"Lower budgets mean you're actually forced into using your imagination. You don't have everything at your fingertips and create it from scratch," he says.
He laments that most of the people he wants to work with aren't around anymore. "Look, most of them are dead," Ledger says. "Fellini. Cassavettes. Bob Fosse. Stanley Kubrick. I would have loved to work with them. I would love to work with many people who are around, but they're not lining up just yet. Terrence Malick is one person who comes to mind. I would love to be in one of his visual poems."
He is recently split with actress Michelle Williams and the two share parenting of their toddler daughter Matilda. Ledger says parenthood has changed his life, but not in sappy ways. "I didn't immediately get an urge to go out and be a voice in an animated film," he jokes. "But it definitely changes the person that you are. I think your personal evolution runs hand in hand with your professional evolution.
"So fatherhood has changed me as an artist because I feel things on a deeper level," he says. "I think my performances will grow simultaneously."
Ledger lives in New York City where he can often be seen pushing Matilda around in her buggy.
"I kind of save the living for the time between action and cut," Ledger says. "I'm pretty good at dropping a character once it's over for the day. Certainly once the film is over, I throw it all away. Your life is what matters."
Source: Big Picture News Inc.
January 22, 2008
The following interview with Heath Ledger was pubished in the Sun-Times on Nov. 18, 2007, upon the release of the film “I’m Not There,” in which Ledger portrayed one of several alter-egos of singer-songwriter Bob Dylan.
Heath Ledger is one heartthrob who is all there. The 28-year-old Aussie with the sleepy eyes and mop of messy blond hair is the first one to admit that acting is therapy for him and he brings everything pent up inside of himself to the big screen.
"I'm lucky in a sense because I have a job where I get to scream and cry," he says. "I get to purge myself in ways that don't really affect me personally.
"When the director yells cut, I just walk out the door and I'm back into my regular life," he says.
Of course, nothing has been regular about Ledger's life since he came on the scene in the teen romance "10 Things I Hate About You" and then received raves years later in "Brokeback Mountain." These days he's starring for director Todd Haynes in his ambitious new film about the many lives of singer, poet and American icon Bob Dylan called "I'm Not There."
Ledger joins a stellar cast including Christian Bale, Cate Blanchett, Marcus Carl Franklin, Richard Gere and Ben Whishaw, who each play Dylan at different parts of his life. Ledger's slice of all things Dylan comes by playing the music man during his star days when he could be found at parties with other beautiful people. On the streets this Dylan hid behind sunglasses and wanted to be left alone because he wasn't always so happy. His private life couldn't withstand the hoopla of his stardom.
"The film doesn't sum up Dylan's life or try to explain it all," Ledger says. "We're just representing aspects of his life during different periods of it."
Ledger says that he loved the idea of playing Dylan. "I found the connection obviously through his music," Ledger says. "You can't help but fall in love with his lyrics or should I say his poetry?"
To get into character, Ledger was given photos of Dylan that were from the mid '60s when the rocker spent his time in New York City hanging out and trying to avoid the press with his dark glasses that also blotted out the rest of the world. Everyone involved in the film is quick to caution that they're not exactly playing Dylan as Dylan but a vision of him or a Dylanesque sort of character.
"It was an incredible experience," Ledger says. "I consider (director) Todd Haynes to be a genius."
Ledger won't rate all the Dylans in the film, but mentions that Blanchett blew him away. "Cate has given such an incredible transformation," Ledger says. "She will really blow people away. I mean, she walks, talks, sings and smells like Bob Dylan."
Ledger will also play The Joker in the upcoming "The Dark Knight" due out in July of 2008.
"I was a fan of the comic book character," Ledger says of The Joker. "Somewhere inside of me, I kind of knew instantly that I wanted to do it. I didn't feel like I had to search for it.
"I felt like I had a plan of attack with it," he says. "That usually dictates whether I want to do something or not -- if I have an understanding of it straight away."
He says that the film "is the most fun I've ever had with a character and the most fun I probably ever will have even though at the end of the day I was absolutely wrecked." He adds that his Joker "has zero empathy" for Batman or anyone else in Gotham City. Ledger's intention from the start was to be the fierce, scary Joker. "He's really full of surprises. But I can say that I wanted him to be very sinister."
Ledger was born in Perth in Western Australia. As his story goes, he was required in school to take either acting or cooking as an elective. "I absolutely couldn't cook," Ledger insists.
Ledger made his American debut in the film "Two Hands" (1999), but became a teen heartthrob with "10 Things I Hate About You" (1999). He decided to buck that image with films including "The Patriot" (2000), "Monster's Ball" (2001) and "Ned Kelly" (2003).
He says that indie films are one of his favorites these days. "I think you're generally granted more freedom," Ledger says. "Whether or not you have a better outcome is relative to the person making the film. But I think that generally, if it's money coming from an alternate source other than a studio then you have that freedom.
"Lower budgets mean you're actually forced into using your imagination. You don't have everything at your fingertips and create it from scratch," he says.
He laments that most of the people he wants to work with aren't around anymore. "Look, most of them are dead," Ledger says. "Fellini. Cassavettes. Bob Fosse. Stanley Kubrick. I would have loved to work with them. I would love to work with many people who are around, but they're not lining up just yet. Terrence Malick is one person who comes to mind. I would love to be in one of his visual poems."
He is recently split with actress Michelle Williams and the two share parenting of their toddler daughter Matilda. Ledger says parenthood has changed his life, but not in sappy ways. "I didn't immediately get an urge to go out and be a voice in an animated film," he jokes. "But it definitely changes the person that you are. I think your personal evolution runs hand in hand with your professional evolution.
"So fatherhood has changed me as an artist because I feel things on a deeper level," he says. "I think my performances will grow simultaneously."
Ledger lives in New York City where he can often be seen pushing Matilda around in her buggy.
"I kind of save the living for the time between action and cut," Ledger says. "I'm pretty good at dropping a character once it's over for the day. Certainly once the film is over, I throw it all away. Your life is what matters."
Source: Big Picture News Inc.
Monday, January 21, 2008
The Gossip Report
If you’re into gossip, then you simply must check out the Gossip Report.
Read it, write it and share it to your hearts content.
This is the tricky part - Instead of creating a profile about yourself, you can create a profile about someone else.
See it now - Gossip Report
Read it, write it and share it to your hearts content.
This is the tricky part - Instead of creating a profile about yourself, you can create a profile about someone else.
See it now - Gossip Report
HBO On Broadband
HBO in broadband drive for online viewers
HBO, the Time Warner-owned cable network, is launching a broadband service in partnership with cable operators as it tries to reach younger viewers who are increasingly watching video online.
The new service, known as HBO on Broadband, makes its debut on Tuesday in the Milwaukee and Green Bay markets of the US.
It will feature more than 400 hours of films and television programming, including HBO series such as The Wire and Entourage, which viewers can watch when they please. The programmes cannot be transferred to Apple's iPod or other portable devices, although that could change.
HBO,a subscription-based network, has been considering a broadband service for more than a year. However, its executives worried that such a move might endanger its longtime relationship with cable television operators.
Their main fear was that viewers watching HBO programmes on the internet might decide to cancel their cable service. To avoid that, they will offer HBO on Broadband only to customers who contract to use their high-speed internet service from a cable operator.
That strategy is similar to the one HBO employed when it introduced its HBO On-Demand service on digital cable in 2001. The service was viewed by many cable operators as an enticement that they could use to convince customers to upgrade from traditional cable to digital cable.
For HBO, it was another effort to make it easier for its customers to watch its programming. Unlike traditional television networks, the company relies not on advertising but on monthly subscriptions. HBO executives have strived to make it as convenient as possible for viewers to access its programming to ensure that they renew their subscriptions each month.
This strategy has become increasingly important with the departure of The Sopranos and Sex and the City. In their absence, HBO executives are betting on a portfolio of niche programmes, films, documentaries and sports - each with its own devoted fans.
Source: The Financial Times Ltd.
HBO, the Time Warner-owned cable network, is launching a broadband service in partnership with cable operators as it tries to reach younger viewers who are increasingly watching video online.
The new service, known as HBO on Broadband, makes its debut on Tuesday in the Milwaukee and Green Bay markets of the US.
It will feature more than 400 hours of films and television programming, including HBO series such as The Wire and Entourage, which viewers can watch when they please. The programmes cannot be transferred to Apple's iPod or other portable devices, although that could change.
HBO,a subscription-based network, has been considering a broadband service for more than a year. However, its executives worried that such a move might endanger its longtime relationship with cable television operators.
Their main fear was that viewers watching HBO programmes on the internet might decide to cancel their cable service. To avoid that, they will offer HBO on Broadband only to customers who contract to use their high-speed internet service from a cable operator.
That strategy is similar to the one HBO employed when it introduced its HBO On-Demand service on digital cable in 2001. The service was viewed by many cable operators as an enticement that they could use to convince customers to upgrade from traditional cable to digital cable.
For HBO, it was another effort to make it easier for its customers to watch its programming. Unlike traditional television networks, the company relies not on advertising but on monthly subscriptions. HBO executives have strived to make it as convenient as possible for viewers to access its programming to ensure that they renew their subscriptions each month.
This strategy has become increasingly important with the departure of The Sopranos and Sex and the City. In their absence, HBO executives are betting on a portfolio of niche programmes, films, documentaries and sports - each with its own devoted fans.
Source: The Financial Times Ltd.
Key West Race Week
Monday, 21 January 2008
Today marks the first day of racing here in Key West. With entries from 18 countries, 60 foreign boats and 2,500 sailors, the Acura Key West Race Week is without a doubt the most popular winter appointment for sailors worldwide.
Practice over the past three days leading up to today's start saw conditions ranging from 6-8 knots on Friday, to 10-15 on Saturday and 25-30 on Sunday. Not many ventured out today and some of those who did had more excitement than they desired.
This event has 16 classes, from PHRF to IRC, to the very competitive one design classes like Farr 40, Melges 32, Melges 24 and the Club Swan 42. The 16 classes are spread out over four races areas...that means four race committees, lots of buoys, anchors, anchor lines, spare anchor lines, horns, etc. You get the idea... a BIG organization. Peter Craig and his team at Premiere Racing do an excellent job of not only running the event but promoting it, gathering corporate support and offering an event that fosters interest in our sport.
I am sailing with Fred and Steve Howe on their Farr 40 Warpath. I raced with the Howes in 2005 in Sydney in the Farr 40 Worlds where we finished a credible 4th. The Farr 40 Class is extremely competitive (25 entries here) with a nice mix onboard of four pros and six amateurs per boat. The helmsman is required to be an amateur, as well as the owner of the boat. Many of the top names in the sport are tacticians in this Class, including Terry Hutchinson, Dean Barker, Peter Isler, Brad Butterworth, Vasco Vascotto, Tony Rey, Gavin Brady, Morgan Larsson, Jeff Madrigali, to name a few....The other three pros on the boats are usually the mainsheet trimmer, a headsail trimmer and the bow man. Most all the pros in this class also race in the America's Cup.
Having said all that, one of the best things about Key West Race Week is that there are so many passionate amateur sailors here....people who take vacation time and often pay their own expenses to come down here. These are the people who make up the heart and soul of our sport. This is there celebration of sailing.
To honor this passion, a few of us pros participated in a round table conference yesterday afternoon for one hour, just before the skippers' meeting at 1700. Peter Isler, Terry Hutchinson, Larry Leonard, Riccardo Simoneschi, Kimo Worthington and myself reviewed a Farr 40 race from Key West 2007, using a software program called Kattack. Kattack plots the course of each boat and creates a graphical depiction of the race. Each of us was assigned to be the tactician of one of the race boats. The "race" was stopped a several interesting situations where were asked to comment on what was going through our mind relative to the fleet, the wind direction, even our position in the race at that time and weather risks or conservatism was warranted. The session was surprisingly well received, especially considering the Chargers were playing New England at that time. I think Kattack may be available on line to those of you who could not get down here to Key West in person.
Today's forecast is for 25-30 knots of wind. My guess is that if this forecast holds true, Peter Craig and his team will postpone the start of Race 1 which is currently scheduled for 1030 EST. It is the first day of a long week and no point in breaking everyone's gear on day one. The wind may moderate enough in the afternoon for us to get one or two races in.
Source; BYMNews.com
Today marks the first day of racing here in Key West. With entries from 18 countries, 60 foreign boats and 2,500 sailors, the Acura Key West Race Week is without a doubt the most popular winter appointment for sailors worldwide.
Practice over the past three days leading up to today's start saw conditions ranging from 6-8 knots on Friday, to 10-15 on Saturday and 25-30 on Sunday. Not many ventured out today and some of those who did had more excitement than they desired.
This event has 16 classes, from PHRF to IRC, to the very competitive one design classes like Farr 40, Melges 32, Melges 24 and the Club Swan 42. The 16 classes are spread out over four races areas...that means four race committees, lots of buoys, anchors, anchor lines, spare anchor lines, horns, etc. You get the idea... a BIG organization. Peter Craig and his team at Premiere Racing do an excellent job of not only running the event but promoting it, gathering corporate support and offering an event that fosters interest in our sport.
I am sailing with Fred and Steve Howe on their Farr 40 Warpath. I raced with the Howes in 2005 in Sydney in the Farr 40 Worlds where we finished a credible 4th. The Farr 40 Class is extremely competitive (25 entries here) with a nice mix onboard of four pros and six amateurs per boat. The helmsman is required to be an amateur, as well as the owner of the boat. Many of the top names in the sport are tacticians in this Class, including Terry Hutchinson, Dean Barker, Peter Isler, Brad Butterworth, Vasco Vascotto, Tony Rey, Gavin Brady, Morgan Larsson, Jeff Madrigali, to name a few....The other three pros on the boats are usually the mainsheet trimmer, a headsail trimmer and the bow man. Most all the pros in this class also race in the America's Cup.
Having said all that, one of the best things about Key West Race Week is that there are so many passionate amateur sailors here....people who take vacation time and often pay their own expenses to come down here. These are the people who make up the heart and soul of our sport. This is there celebration of sailing.
To honor this passion, a few of us pros participated in a round table conference yesterday afternoon for one hour, just before the skippers' meeting at 1700. Peter Isler, Terry Hutchinson, Larry Leonard, Riccardo Simoneschi, Kimo Worthington and myself reviewed a Farr 40 race from Key West 2007, using a software program called Kattack. Kattack plots the course of each boat and creates a graphical depiction of the race. Each of us was assigned to be the tactician of one of the race boats. The "race" was stopped a several interesting situations where were asked to comment on what was going through our mind relative to the fleet, the wind direction, even our position in the race at that time and weather risks or conservatism was warranted. The session was surprisingly well received, especially considering the Chargers were playing New England at that time. I think Kattack may be available on line to those of you who could not get down here to Key West in person.
Today's forecast is for 25-30 knots of wind. My guess is that if this forecast holds true, Peter Craig and his team will postpone the start of Race 1 which is currently scheduled for 1030 EST. It is the first day of a long week and no point in breaking everyone's gear on day one. The wind may moderate enough in the afternoon for us to get one or two races in.
Source; BYMNews.com
Tony Dungy
Colts' Dungy Expected To Announce Decision Today
Tony Dungy, 52, spent the past week talking with his family, some close friends and trusted coaches in his annual end-of-season custom.
He's still not hinting about his future plans with the Indianapolis Colts.
Dungy, the first black coach to win a Super Bowl, is pondering retirement for a third straight year. As usual, his decision centers on whether he can remain a devoted husband and father while also remaining a devoted coach.
Dungy plans to make an announcement today. But Colts officials didn't want to wait for him to announce his decision before making contingency plans.
On Thursday, team owner Jim Irsay said that assistant head coach and quarterbacks coach Jim Caldwell would eventually replace Dungy. Team president Bill Polian said Friday the team was prepared to make that transition immediately or next season.
Payton award finalists announced: Hines Ward, Jason Taylor, Jason Witten and Brian Waters were named finalists for the NFL's Walter Payton Man of the Year Award. The winner will be announced Feb. 3 at the Super Bowl. The award named for Hall of Famer Walter Payton is the only league award that recognizes community involvement and service, as well as on-field performance.
Ward, a four-time Pro Bowl receiver for the Steelers, established a foundation in 2006 to assist biracial children in South Korea who face discrimination, and hosted eight Korean kids for a weekend in Pittsburgh this season.
Taylor, Miami's leader in career sacks, launched a reading room through his foundation, to address illiteracy among inner-city youth.
Waters, a Chiefs offensive lineman, has volunteered regularly at a youth homeless shelter in Dallas and started a foundation to help children in his hometown of Waxahachie, Texas, as well as Kansas City.
Witten, a Dallas receiver, is headed to his fourth straight Pro Bowl. His foundation provides support and assistance to people affected by domestic violence, and has an annual free football camp in his hometown, Elizabethton, Tenn.
Source: Associated Press
Tony Dungy, 52, spent the past week talking with his family, some close friends and trusted coaches in his annual end-of-season custom.
He's still not hinting about his future plans with the Indianapolis Colts.
Dungy, the first black coach to win a Super Bowl, is pondering retirement for a third straight year. As usual, his decision centers on whether he can remain a devoted husband and father while also remaining a devoted coach.
Dungy plans to make an announcement today. But Colts officials didn't want to wait for him to announce his decision before making contingency plans.
On Thursday, team owner Jim Irsay said that assistant head coach and quarterbacks coach Jim Caldwell would eventually replace Dungy. Team president Bill Polian said Friday the team was prepared to make that transition immediately or next season.
Payton award finalists announced: Hines Ward, Jason Taylor, Jason Witten and Brian Waters were named finalists for the NFL's Walter Payton Man of the Year Award. The winner will be announced Feb. 3 at the Super Bowl. The award named for Hall of Famer Walter Payton is the only league award that recognizes community involvement and service, as well as on-field performance.
Ward, a four-time Pro Bowl receiver for the Steelers, established a foundation in 2006 to assist biracial children in South Korea who face discrimination, and hosted eight Korean kids for a weekend in Pittsburgh this season.
Taylor, Miami's leader in career sacks, launched a reading room through his foundation, to address illiteracy among inner-city youth.
Waters, a Chiefs offensive lineman, has volunteered regularly at a youth homeless shelter in Dallas and started a foundation to help children in his hometown of Waxahachie, Texas, as well as Kansas City.
Witten, a Dallas receiver, is headed to his fourth straight Pro Bowl. His foundation provides support and assistance to people affected by domestic violence, and has an annual free football camp in his hometown, Elizabethton, Tenn.
Source: Associated Press
Tom Coughlin Frostbite
Gigantic win leaves Packers out in cold
January 21, 2008
GREEN BAY, Wis.
The future is suddenly so bright for football fans, the NFL should have been handing out shades Sunday night.
Cheeseheads needed them to hide their swollen red eyes. Tom Coughlin needed a rose-colored pair to complement his frostbitten cheeks.
And best of all, the light of competition is now shining on the Super Bowl.
It appears we're in for a game, not a coronation. That may not hearten New England fans, but it will make the next two weeks a lot more interesting for the rest of America.
The Giants are good enough to beat the Patriots. More importantly, they are lucky enough or plucky enough of whatever you want to call it when a team keeps defying expectations.
Neither wind nor cold nor gloom of night could keep them from their appointed round Sunday. When Lawrence Tynes kicked a 47-yard field goal in overtime, the scene turned into gloom of Favre.
Read the rest from the Orlando Sentinel
January 21, 2008
GREEN BAY, Wis.
The future is suddenly so bright for football fans, the NFL should have been handing out shades Sunday night.
Cheeseheads needed them to hide their swollen red eyes. Tom Coughlin needed a rose-colored pair to complement his frostbitten cheeks.
And best of all, the light of competition is now shining on the Super Bowl.
It appears we're in for a game, not a coronation. That may not hearten New England fans, but it will make the next two weeks a lot more interesting for the rest of America.
The Giants are good enough to beat the Patriots. More importantly, they are lucky enough or plucky enough of whatever you want to call it when a team keeps defying expectations.
Neither wind nor cold nor gloom of night could keep them from their appointed round Sunday. When Lawrence Tynes kicked a 47-yard field goal in overtime, the scene turned into gloom of Favre.
Read the rest from the Orlando Sentinel
Dow Futures
U.S. stock futures point to major decline on re-open
Markets in Europe end day in bear market territory
LONDON (MarketWatch) -- If futures contracts traded on a day when U.S. stocks weren't even due to open are anything near accurate, then markets will be in for a major decline on Tuesday, with concerns about bond insurers and the health of financial institutions dragging markets lower.
March contracts on the Dow Jones Industrial Average traded 522 points lower to 11,584 as of 11:30 a.m. Eastern.
Futures contract don't move in complete lockstep to the underlying indexes, but by comparison, the Dow industrials fell 382 points on Sept. 20, 2001, just days after the terrorist attack on the Twin Towers, and by 387 points on Aug. 9, 2007, shortly after the recent credit crunch first emerged.
S&P 500 futures fell 60 points to 1,265.00 and Nasdaq 100 futures fell 76 points to 1,773.25.
U.S. markets were closed Monday for the Martin Luther King holiday. Trading won't resume until Tuesday.
The futures declines are on the back of big drops in European and Asian stock markets.
From developing markets like Shanghai -- down over 5% -- to established ones in Paris -- down nearly 7% -- financial institutions around the world sold off. See Europe markets.
Karen Olney, a strategist at Merrill Lynch in London, said investors simply don't trust earnings forecasts any longer.
Monday's decline means that European stocks are trading at price-to-earnings levels about 27% below their long-run average, she said, having dropped to 11.4 times trailing earnings.
"That means the markets are pricing in 80% of the fall to recession-like earnings," she said, using 1990s as a comparison.
Stocks in Europe are trading over 20% below 2007 highs, which meets technical definitions of a move into a bear market.
Stay in cash, Morgan Stanley says
Strategists at Morgan Stanley told clients on Monday to stay in cash.
"Our themes continue to be: patience, earnings recession, U.S. recession spreading global, bear market regime, don't be lured into value stocks as most are likely to be value traps, much more monetary easing. We expect flat but volatile markets just as in the 1989-92 period -- a real whipsaw environment for the market," they said.
Much of the fear stems from worries about potential ratings cuts for bond insurers, such as Ambac Financial and MBIA AAA ratings are on thin ice.
Fitch Ratings on Friday downgraded Ambac to AA from AAA after the bond insurer abandoned its plan to sell $1 billion in equity.
When a bond insurer is downgraded, all the securities it has guaranteed are, in theory, downgraded as well -- putting some $1.4 trillion of municipal bond securities at risk and more than $600 billion of structured finance securities at risk.
"These are things we have never dealt with before. We have never had the volume in credit-default swaps
The fears were lent some support when the head of France's central bank, Christian Noyer, said that French banks "clearly, like all banks, in the world still (are) in the process of marking down assets."
In Asia, markets feared an $8 billion write off from the Bank of China , one of China's big four financial institutions.
The rescue plan presented by President Bush last week in a bid to help the U.S. avoid recession also wasn't well-received by markets.
"Ambivalence over Bush's rescue plan for the U.S. economy was the trigger of this rout," said Martin Slaney, head of derivatives at GFT Global Markets.
The Japanese yen surged against rivals -- up about 2% against the euro and 1% against the U.S. dollar -- with investors trimming risk by buying back the low-yielding currency.
WestLB of Germany added to concerns by saying it would lose about $1.5 billion this year and take a write-off of similar size.
"Market sentiment is really sour," said Gerhard Schwarz, a strategist at UniCredit Markets. "There's been more bad news from the financial sector on top of continued recession fears," he said, speaking of Monday's equity market action.
Source: MarketWatch
Markets in Europe end day in bear market territory
LONDON (MarketWatch) -- If futures contracts traded on a day when U.S. stocks weren't even due to open are anything near accurate, then markets will be in for a major decline on Tuesday, with concerns about bond insurers and the health of financial institutions dragging markets lower.
March contracts on the Dow Jones Industrial Average traded 522 points lower to 11,584 as of 11:30 a.m. Eastern.
Futures contract don't move in complete lockstep to the underlying indexes, but by comparison, the Dow industrials fell 382 points on Sept. 20, 2001, just days after the terrorist attack on the Twin Towers, and by 387 points on Aug. 9, 2007, shortly after the recent credit crunch first emerged.
S&P 500 futures fell 60 points to 1,265.00 and Nasdaq 100 futures fell 76 points to 1,773.25.
U.S. markets were closed Monday for the Martin Luther King holiday. Trading won't resume until Tuesday.
The futures declines are on the back of big drops in European and Asian stock markets.
From developing markets like Shanghai -- down over 5% -- to established ones in Paris -- down nearly 7% -- financial institutions around the world sold off. See Europe markets.
Karen Olney, a strategist at Merrill Lynch in London, said investors simply don't trust earnings forecasts any longer.
Monday's decline means that European stocks are trading at price-to-earnings levels about 27% below their long-run average, she said, having dropped to 11.4 times trailing earnings.
"That means the markets are pricing in 80% of the fall to recession-like earnings," she said, using 1990s as a comparison.
Stocks in Europe are trading over 20% below 2007 highs, which meets technical definitions of a move into a bear market.
Stay in cash, Morgan Stanley says
Strategists at Morgan Stanley told clients on Monday to stay in cash.
"Our themes continue to be: patience, earnings recession, U.S. recession spreading global, bear market regime, don't be lured into value stocks as most are likely to be value traps, much more monetary easing. We expect flat but volatile markets just as in the 1989-92 period -- a real whipsaw environment for the market," they said.
Much of the fear stems from worries about potential ratings cuts for bond insurers, such as Ambac Financial and MBIA AAA ratings are on thin ice.
Fitch Ratings on Friday downgraded Ambac to AA from AAA after the bond insurer abandoned its plan to sell $1 billion in equity.
When a bond insurer is downgraded, all the securities it has guaranteed are, in theory, downgraded as well -- putting some $1.4 trillion of municipal bond securities at risk and more than $600 billion of structured finance securities at risk.
"These are things we have never dealt with before. We have never had the volume in credit-default swaps
The fears were lent some support when the head of France's central bank, Christian Noyer, said that French banks "clearly, like all banks, in the world still (are) in the process of marking down assets."
In Asia, markets feared an $8 billion write off from the Bank of China , one of China's big four financial institutions.
The rescue plan presented by President Bush last week in a bid to help the U.S. avoid recession also wasn't well-received by markets.
"Ambivalence over Bush's rescue plan for the U.S. economy was the trigger of this rout," said Martin Slaney, head of derivatives at GFT Global Markets.
The Japanese yen surged against rivals -- up about 2% against the euro and 1% against the U.S. dollar -- with investors trimming risk by buying back the low-yielding currency.
WestLB of Germany added to concerns by saying it would lose about $1.5 billion this year and take a write-off of similar size.
"Market sentiment is really sour," said Gerhard Schwarz, a strategist at UniCredit Markets. "There's been more bad news from the financial sector on top of continued recession fears," he said, speaking of Monday's equity market action.
Source: MarketWatch
Caffeine Miscarriage
Statistically Insignificant Study Shows Caffeine/Miscarriage Correlation
If only results of this Kaisar study came out on Friday. Then we may have seen more interesting placards at Walk for Life on Saturday. "Coffee Kills," "Vegan, Caffeine-Free, and Pro-Life," for example.
Why such a small study is making headlines in print and on television, we have no idea. The lives of pregnant women are already so limited, what with no drinking allowed, no drugging allowed, no hot-tubbing allowed, etc., etc. Despite the fact that 80% of miscarriages are caused by chromosomal abnormalities and have absolutely nothing to do with behavioral or lifestyle choices, a recent, small-scale Kaiser study says that women in the first 16 weeks of pregnancy who drink 200 mg or more of caffeine are twice as likely to have a miscarriage than those who consume less or none at all. The Oakland-based study included a paltry 1,063 women, with 16% (or 170 women, according to our math) suffering miscarriages.
There are, of course, some reasonable arguments for lowering caffeine intake during pregnancy. It is commonsensical to to suggest moderation in all areas of life during pregnancy. But is there really a need to freak out pregnant women any more than they're already freaked out? If scientists are calling the study important but statistically insignificant, aren't they jumping the gun just a little bit with all the warnings?
Source: sfist.com
If only results of this Kaisar study came out on Friday. Then we may have seen more interesting placards at Walk for Life on Saturday. "Coffee Kills," "Vegan, Caffeine-Free, and Pro-Life," for example.
Why such a small study is making headlines in print and on television, we have no idea. The lives of pregnant women are already so limited, what with no drinking allowed, no drugging allowed, no hot-tubbing allowed, etc., etc. Despite the fact that 80% of miscarriages are caused by chromosomal abnormalities and have absolutely nothing to do with behavioral or lifestyle choices, a recent, small-scale Kaiser study says that women in the first 16 weeks of pregnancy who drink 200 mg or more of caffeine are twice as likely to have a miscarriage than those who consume less or none at all. The Oakland-based study included a paltry 1,063 women, with 16% (or 170 women, according to our math) suffering miscarriages.
There are, of course, some reasonable arguments for lowering caffeine intake during pregnancy. It is commonsensical to to suggest moderation in all areas of life during pregnancy. But is there really a need to freak out pregnant women any more than they're already freaked out? If scientists are calling the study important but statistically insignificant, aren't they jumping the gun just a little bit with all the warnings?
Source: sfist.com
MLK Quotes
On this MLK holiday, end King-baiting
King baiting is rampant these days. King-baiting?
I'm talking about the tried and true practice of invoking the Rev. Dr. Martin Luther King Jr.'s name whenever someone wants to curry favor, assuage anger, rebut arguments or influence decisions by African-Americans. Regardless of political persuasion, King-baiting has become standard operating procedure in the past few years.
Today, on the national holiday on which we honor the civil-rights icon, let's talk honestly about King-baiting.
For instance, when the media reported "allegedly racist" comments about blacks and welfare in his newsletter, presidential candidate Mike Huckabee responded, "Martin Luther King and Rosa Parks were my heroes." End of discussion.
Hillary Clinton riled some African-Americans when she said. "Dr. King's dream of racial equality was only realized when President Lyndon B. Johnson signed the Civil Rights Act of 1964." That seemed innocent enough, but many thought she suggested Johnson deserved more credit than King for the passage of civil-rights legislation. Clinton's example of King-bating backfired, too.
Memo to the world: African-Americans revere, celebrate and appreciate everything Dr. Martin Luther King Jr. did for the advancement of our race. We honor the supreme sacrifice he made. However, we don't genuflect and comply at the mere mention of his name.
King would not have wanted it that way. He fought and died so that all Americans, especially black people, would have the right to speak their mind and make their own decisions. That's something that whites and blacks alike too often forget.
King-baiters usually employ one of three quotes. We've heard them time and time again: "I have a dream," "the content of our character not the color of our skin," and "little black boys and little black girls join hands with little white boys and little white girls."
The endless repetition and focus on these three snippets of words have reduced one of the 20th century's great thinkers to a few lines from one speech.
On this holiday honoring him, it would be beneficial to revisit some of the things he said beyond those in his landmark "I Have a Dream" speech:
*"Peace is not just the absence of conflict but also the presence of justice."
Many laud King's call for peace and nonviolence but, when it comes to the issue of justice, they fall short.
In 2007, the Justice Policy Institute released a report detailing disparities in drug sentences for whites and blacks in Central Florida, despite the fact that both races use, sell and transport illegal drugs at roughly the same rate. Last year, the Jena Six, Genarlow Wilson and Shaquanda Cotton cases highlighted the inequities of our justice system in other regions of the country. Despite all of this, year after year, these discrepancies go unaddressed.
Justice for all is the cornerstone of our democracy. Neither the United States nor Central Florida will be what it was intended to be until there is fairness in our courts.
*"There is nothing more dangerous than to build a society with a large segment of people in that society who feel they have no stake in it; who feel they have nothing to lose. People who have a stake in their society protect that society, but when they don't have it, they unconsciously want to destroy it."
The carnage in our low-income communities is well-documented. The collateral damage is a loss of a sense of safety for the entire community, which takes its toll both emotionally and financially while diminishing our quality of life. There is an extreme sense of disconnect among residents in disadvantaged communities, particularly among the youth. Real or imagined, they believe our system is working against them. Our society needs new and innovative efforts to bring them into the fold both educationally and economically. We can and we must do more.
*"I refuse to accept the view that mankind is so tragically bound to the starless midnight of racism and war that the bright daybreak of peace and brotherhood can never become a reality. . . . I believe unarmed truth and unconditional love will have the final word."
The large number of whites supporting Barack Obama, Hillary Clinton's enormous support among black women and the small but significant increase in the ranks of black Republicans are testaments to America's changing attitudes about race. In coming decades, the unenlightened minds that seek to keep us divided will become extinct.
As King said, "We as a people will get to the promised land."
Source: Orlando Sentinel
King baiting is rampant these days. King-baiting?
I'm talking about the tried and true practice of invoking the Rev. Dr. Martin Luther King Jr.'s name whenever someone wants to curry favor, assuage anger, rebut arguments or influence decisions by African-Americans. Regardless of political persuasion, King-baiting has become standard operating procedure in the past few years.
Today, on the national holiday on which we honor the civil-rights icon, let's talk honestly about King-baiting.
For instance, when the media reported "allegedly racist" comments about blacks and welfare in his newsletter, presidential candidate Mike Huckabee responded, "Martin Luther King and Rosa Parks were my heroes." End of discussion.
Hillary Clinton riled some African-Americans when she said. "Dr. King's dream of racial equality was only realized when President Lyndon B. Johnson signed the Civil Rights Act of 1964." That seemed innocent enough, but many thought she suggested Johnson deserved more credit than King for the passage of civil-rights legislation. Clinton's example of King-bating backfired, too.
Memo to the world: African-Americans revere, celebrate and appreciate everything Dr. Martin Luther King Jr. did for the advancement of our race. We honor the supreme sacrifice he made. However, we don't genuflect and comply at the mere mention of his name.
King would not have wanted it that way. He fought and died so that all Americans, especially black people, would have the right to speak their mind and make their own decisions. That's something that whites and blacks alike too often forget.
King-baiters usually employ one of three quotes. We've heard them time and time again: "I have a dream," "the content of our character not the color of our skin," and "little black boys and little black girls join hands with little white boys and little white girls."
The endless repetition and focus on these three snippets of words have reduced one of the 20th century's great thinkers to a few lines from one speech.
On this holiday honoring him, it would be beneficial to revisit some of the things he said beyond those in his landmark "I Have a Dream" speech:
*"Peace is not just the absence of conflict but also the presence of justice."
Many laud King's call for peace and nonviolence but, when it comes to the issue of justice, they fall short.
In 2007, the Justice Policy Institute released a report detailing disparities in drug sentences for whites and blacks in Central Florida, despite the fact that both races use, sell and transport illegal drugs at roughly the same rate. Last year, the Jena Six, Genarlow Wilson and Shaquanda Cotton cases highlighted the inequities of our justice system in other regions of the country. Despite all of this, year after year, these discrepancies go unaddressed.
Justice for all is the cornerstone of our democracy. Neither the United States nor Central Florida will be what it was intended to be until there is fairness in our courts.
*"There is nothing more dangerous than to build a society with a large segment of people in that society who feel they have no stake in it; who feel they have nothing to lose. People who have a stake in their society protect that society, but when they don't have it, they unconsciously want to destroy it."
The carnage in our low-income communities is well-documented. The collateral damage is a loss of a sense of safety for the entire community, which takes its toll both emotionally and financially while diminishing our quality of life. There is an extreme sense of disconnect among residents in disadvantaged communities, particularly among the youth. Real or imagined, they believe our system is working against them. Our society needs new and innovative efforts to bring them into the fold both educationally and economically. We can and we must do more.
*"I refuse to accept the view that mankind is so tragically bound to the starless midnight of racism and war that the bright daybreak of peace and brotherhood can never become a reality. . . . I believe unarmed truth and unconditional love will have the final word."
The large number of whites supporting Barack Obama, Hillary Clinton's enormous support among black women and the small but significant increase in the ranks of black Republicans are testaments to America's changing attitudes about race. In coming decades, the unenlightened minds that seek to keep us divided will become extinct.
As King said, "We as a people will get to the promised land."
Source: Orlando Sentinel
Diamond Settlement
About the diamond settlement
Under a proposed settlement of class-action lawsuits against the De Beers diamond company, consumers who bought diamonds between Jan. 1, 1994 and March 31, 2006, can apply for rebates.
Who's eligible: Anyone who bought diamonds or diamond jewelry in the U.S. during the covered period.
Refunds: Payments could range from 6 percent to 59 percent of the retail price, depending on the value and type of jewelry. For example, diamond rings priced from $1,000 to $5,499 are eligible for a maximum 32 percent refund.
Signing up: Details of the settlement and online claim forms are available at www.diamondsclassaction.com.
What's the catch? The total value of the settlement is $295 million, so the more consumers who make claims, the smaller each individual rebate will be.
Source: Chicago Tribune
Under a proposed settlement of class-action lawsuits against the De Beers diamond company, consumers who bought diamonds between Jan. 1, 1994 and March 31, 2006, can apply for rebates.
Who's eligible: Anyone who bought diamonds or diamond jewelry in the U.S. during the covered period.
Refunds: Payments could range from 6 percent to 59 percent of the retail price, depending on the value and type of jewelry. For example, diamond rings priced from $1,000 to $5,499 are eligible for a maximum 32 percent refund.
Signing up: Details of the settlement and online claim forms are available at www.diamondsclassaction.com.
What's the catch? The total value of the settlement is $295 million, so the more consumers who make claims, the smaller each individual rebate will be.
Source: Chicago Tribune
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