Thursday, February 28, 2013

Mars expedition searching for a couple to take the trip

CAPE CANAVERAL, Florida, - A nonprofit foundation wants to recruit a man and a woman - possibly a married couple - for a bare-bones, 501-day journey to Mars and back that would start in less than five years, project organizers said on Wednesday.

The mission, expected to cost upwards of $1 billion, would be privately financed by donations and sponsorships.

Project founder Dennis Tito, a multimillionaire who in 2001 paid $20 million for a trip to the International Space Station, said he will pay start-up costs for two years to begin development of life-support systems and other critical technologies.

Currently, there are no U.S. human spaceships in operation, but several are under development and expected to be flying by 2017.

That leaves little time to take advantage of a rare planetary alignment that would allow a craft to loop around Mars, coming as close as about 150 miles to the planet's surface, before returning to Earth.

The launch window for the mission opens on January 5, 2018. The next opportunity is not until 2031.

"If we don't make 2018, we're going to have some competition in 2031," Tito told Reuters.

"By that time, there will be many others that will be reaching for this low-hanging fruit, and it really is low-hanging fruit," said Tito, who set up the nonprofit Inspiration Mars Foundation to organize the mission.

Project chief technical officer Taber MacCallum said U.S. industry is up for the challenge.

"That's the kind of bold thing we used to be able to do," said MacCallum, who also oversees privately owned Paragon Space Development Corp.

"We've shirked away from risk. I think just seriously contemplating this mission recalibrates what we believe is a risk worth taking for America," he said.

TIGHT QUARTERS

The spacecraft will be bare-bones, with about 600 cubic feet (17 cubic meters) of living space available for a two-person crew. Mission planners would like to fly a man and a woman, preferably a married couple who would be compatible during a long period of isolation.

The capsule would be outfitted with a life-support system similar to the one NASA uses on the space station, which recycles air, water, urine and perspiration.

"This is going to be a very austere mission. You don't necessarily have to follow all of NASA's guidelines for air quality and water quality. This is going to be a Lewis and Clark trip to Mars," MacCallum said, referring to the explorers who set out across the uncharted American Northwest in 1803.

If launch occurs on January 5, 2018, the capsule would reach Mars 228 days later, loop around its far side and slingshot back toward Earth.

The return trip takes 273 days and ends with an unprecedented 31,764-mph (51,119-kph) slam into Earth's atmosphere.

Once the spaceship is on its way, there is no turning back.

"If something goes wrong, they're not coming back," MacCallum said.

The crew would spend much of their time maintaining their habitat, conducting science experiments and keeping in touch with people on Earth.

Tito said he expects the cost to be similar to a robotic mission to Mars. NASA's ongoing Curiosity rover mission cost $2.5 billion. A follow-on mission scheduled to launch in 2020 is expected to run $1.5 billion.

"You're really flying this mission without a propulsion system on the spacecraft. It's in the most simple form," Tito said.

NASA is working on its own heavy-lift rocket and Orion space capsule that could carry crews of four to an asteroid and eventually to Mars.

"We can just barely, every 15 years, fly by Mars with the systems we have right now," MacCallum said. "We're trying to be a stepping-stone."

(Editing by Jane Sutton and Xavier Briand)

Source: http://news.yahoo.com/man-woman-preferably-married-wanted-expedition-mars-004905145.html

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Monday, February 25, 2013

Kerry opens first official overseas trip in London

U.S. Secretary of State John Kerry, left, walks toward 10 Downing Street with British Foreign Secretary William Hague, for a meeting with British Prime Minister David Cameron, not pictured, in London on Monday, Feb. 25, 2013, during Kerry?s first official trip overseas as secretary. (AP Photo/Jacquelyn Martin, Pool)

U.S. Secretary of State John Kerry, left, walks toward 10 Downing Street with British Foreign Secretary William Hague, for a meeting with British Prime Minister David Cameron, not pictured, in London on Monday, Feb. 25, 2013, during Kerry?s first official trip overseas as secretary. (AP Photo/Jacquelyn Martin, Pool)

U.S. Secretary of State John Kerry, left, walks with British Foreign Secretary William Hague as he arrives at Downing Street in London, Monday, Feb. 25, 2013. (AP Photo/Kirsty Wigglesworth)

(AP) ? U.S. Secretary of State John Kerry has kicked off his first official overseas trip by meeting with British leaders in London on the first leg of a hectic nine-day dash through Europe and the Middle East.

Kerry's maiden diplomatic meeting abroad was on Monday with British Prime Minister David Cameron for talks expected to focus on the crisis in Syria and Iran's nuclear program. Later, he will see Foreign Secretary William Hague before flying to Germany for meetings in Berlin.

Kerry arrived on London late Sunday as the Obama administration launched a frantic effort to try to salvage a Syrian opposition conference that Kerry plans to attend this week in Rome. Some members of the sharply divided Syrian Opposition Council are threatening to boycott the meeting.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/386c25518f464186bf7a2ac026580ce7/Article_2013-02-25-Kerry/id-35a44987a2f440dcb38aaf97bc2690b2

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Sunday, February 24, 2013

For a bad time, visit America's 'saddest,' 'most miserable' cities

Rebecca Cook / Reuters file

Forbes ranked Detroit as the "most miserable" city in the U.S., citing its violent crime rate and falling home prices, both of which are the worst in the country.

By M. Alex Johnson, staff writer, NBC News

Michigan has a serious PR problem on its hands, if you believe two studies this week that ranked its cities among the saddest, most depressed in America.

Forbes magazine hit the state with a top two finish Friday in its annual rankings of the "most miserable" cities in the U.S. Detroit ranked No. 1. Flint ranked No. 2.


Forbes' rankings are based mainly on economic factors, including unemployment, foreclosures, income and property taxes and home prices, in addition to violent crime. Detroit ranked high on violent crime and the rate at which home prices are falling.

"Right now, it's all about survival," Mayor Dave Bing told Forbes.

Read the full Forbes list and see the 10 happiest and saddest cities in the U.S.

In a separate study this week, mathematicians at the University of Vermont ranked the 373 "saddest" cities in the U.S., based on a quantitative analysis of keywords in more than 10 million geotagged posts on Twitter.?

Detroit finished 29th. Flint was even sadder ? its residents were the sixth-saddest in the country, according to the Vermonters.

(Adding insult to injury, Warren, Mich., shows up at seventh on Forbes' list.)

The Midwest, in fact, is heavily represented in both lists. Forbes' 20 most miserable cities also include Rockford, Ill. (third); Chicago (fourth); Lake County, Ill. (ninth); Toledo, Ohio (11th); St. Louis (12th); Milwaukee (14th); Cleveland (17th); Gary, Ind. (19th) and Youngstown, Ohio (20th).

Battle Creek, Mich. (eighth), and Lima, Ohio (ninth), also show up in the 20 saddest cities.

"This is not a league in which we want to play ball," Chuck Sweeny, political editor of The Rockford (Ill.) Star, wrote in a column Friday.

"We know what's wrong: too much poverty, too few college graduates, too few opportunities to get a college degree here, high crime in certain areas, an inability to work together to coordinate economic development and school districts considered poor or just average," Sweeny wrote.

"Add to that a crumbling inner city and thousands of substandard homes, and you've got a problem when the ratings folks come to town, or more likely, Google us."

At least "we are nothing like Flint," he added.

From Flint, the counterargument:

"This is ridiculous. I am proud to be from Flint, MI," Manuel Gatica of New York ? a Flint native ? commented on Facebook. "I enjoy going back to visit and I live in New York, New York. I am a very happy person. The writer at Forbes must have a miserable life."

Detroiters, however, generally seemed to agree with their ranking, at least as indicated in comments at NBC station WDIV of Detroit:

The happiest city in America is Napa, Calif., the Vermont researchers concluded. The saddest? Beaumont, Texas. It's just one of many Deep South municipalities at the bottom of the list ? and many in the region aren't happy about it.

"Albany is home. I wouldn't imagine being anywhere else," said Layne Tumlin of Albany, Ga., which ranked second on the saddest cities list.

"I did leave and come back," Tumlin told NBC station WALB of Albany. "I left for a few years, about eight, and traveled ? got it out of my system, but the whole time I was gone, I kept thinking about home."

"I hate that we have such a stigma like that," said Nancy Jane Karam, who told NBC station KSLA of Shreveport, La. ? No. 4 on the Vermont list.

Bill McCown, a psychology professor at the University of Louisiana at Monroe, said he was dumbfounded at Monroe's No. 5 ranking on the "saddest" list.

"If you would have said this about New York, I would have believed it," McCown told the News-Star newspaper. "But not Monroe."

Related:

Source: http://usnews.nbcnews.com/_news/2013/02/22/17058747-looking-for-a-bad-time-visit-americas-saddest-most-miserable-cities?lite

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Wednesday, February 13, 2013

Tim Cook Talks Up Apple Software And Services: ?We Are Not A Hardware Company?

apple icloud logoOnce upon a time, Apple was a hardware company that also maintained a software and media ecosystem since it helped drive purchases of Macs, iPods and more. But over the years, the software and services side of the business has become increasingly important, and CEO Tim Cook even went so far as to state out right that Apple is "not a hardware company." Not once, but twice.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/7nJO-jqNfDQ/

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Sonos app gets universal favorites, Android widget and iPhone 5 tweaks

Sonos app gets universal favories, widget on Android and iPhone 5 tweaks

Ask a Sonos listener about flaws in the Controller app and you'll often hear about three sticking points: favorites buried in separate sections, the absence of an official Android widget and an iOS version that still isn't optimized for the iPhone 5. As of Tuesday, the company is cleaning house by curing all three hiccups at once. A new software update puts a source-independent Sonos Favorites section at the top of the menu system; Android users now have a playback widget to quickly skip tracks, and the iPhone app finally takes advantage of those 176 extra lines on the screen. All the official Controller releases should see their fixes appear at relevant app stores soon, if not by the time you read this.

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Tuesday, February 12, 2013

No. 4 Duke holds on to beat Boston College 62-61

BOSTON (AP) ? Duke coach Mike Krzyzewski watched as all three teams ahead of the Blue Devils in The Associated Press Top 25 lost this week. Then he came to Chestnut Hill and nearly joined them.

"Nothing about today was easy," Krzyzewski said Sunday night after No. 4 Duke overcame early and late deficits to beat Boston College 62-61. "These are games anybody can lose, and throughout the country everybody is losing them. Our guys found a way to win against a team that was also deserving to win, so that's a real good thing."

Mason Plumlee had 19 points and 10 rebounds, hitting the game-winning free throw with 26 seconds left to lead Duke (21-2, 8-2 Atlantic Coast Conference) to its fifth consecutive win. Seth Curry added 18 points for the Blue Devils.

Olivier Hanlan scored 20 points for Boston College, which led by five points with 2:15 left and had a chance to win it after Plumlee made one of two free throws.

After a timeout, Hanlan dribbled down the clock before pulling up for an open shot inside the foul line that was wide. Ryan Anderson grabbed the rebound but lost control as he fell to the floor and the ball popped out of bounds as the buzzer sounded to end the game.

"When you get a defensive stop, it's five guys playing as one," Krzyzewski said. "For me, there's no better feeling than to win a game that way. And you see them on the floor and that red light goes off, and its pretty cool. It's a pretty cool thing."

Plumlee celebrated on his back as the Blue Devils improved their chance to move up from the No. 4 ranking after losses to the top three teams: Indiana, Florida and Michigan. The Blue Devils have been ranked No. 1 five weeks during the regular season, the last on Jan. 21.

"It's crazy to watch, but it's very entertaining," Curry said. "We've been the No. 1 team a few times this season. It's not something we're shooting for; we're just trying to win games."

The Eagles (10-13, 2-8 Atlantic Coast Conference) entered the day tied for last in the conference, but they jumped to an eight-point lead midway through the first half and held onto a tie at halftime. Duke quickly erased the deficit as the second half began and opened a six-point lead but then went cold again, scoring just one free throw over a 4 1-2 minute span and allowing BC to make it 61-56 with 2:15 to play.

But Quinn Cook made his third 3-pointer of the game, then Plumlee hit a pair of free throws with 47 seconds left to tie it 61-all. BC's Joe Rahon put a 3-point attempt off the top of the backboard and Plumlee was brought down hard as he grabbed the rebound.

The Blue Devils forward missed the first foul shot but made the second to make it a one-point lead. Hanlan faked the drive and pulled up, gaining space from Rasheed Sulaimon and a clean look at the rim, but was way off.

"He takes another freshman off the dribble, he gets a pretty good look," BC coach Steve Donahue said. "He normally makes those shots. I don't think he was nervous. He wants to be really good. Let's be honest: the reason you can play with Duke is because of Olivier Hanlan. I just thought he played great."

With Boston's Logan Airport closed by the blizzard most of Friday and Saturday, Duke changed its travel plans and flew into the city late Sunday morning. Fans dug themselves out to watch the Eagles play their best game of a season that includes losses to Harvard and Bryant. BC had lost six of seven, including a 22-point loss to No. 8 Miami on Tuesday.

Duke went scoreless for the first five minutes of the game and trailed by as many as eight points, 13-5, in the first half. It led 21-14 before scoring 11 of the next 14 points, taking its first lead of the game on Plumlee's three-point play with 1 minute left in the first half.

It was 27-all at the half before Curry and Cook hit 3-pointers and Curry followed with a four-point play that gave Duke a 39-34 lead.

Source: http://news.yahoo.com/no-4-duke-holds-beat-boston-college-62-011643056--spt.html

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Monday, February 11, 2013

Bank of Canada says credit growth slowing, but risks remain

OTTAWA (Reuters) - Canadians have taken on debt at a slower pace recently, but record-high personal debt remains a risk to the financial system and if the problem persists the central bank could hike interest rates, a senior Bank of Canada official said on Monday.

The central bank has described the heated housing market and indebted consumers as the biggest domestic threat to the Canadian economy, although there have been signs of cooling. Last month Moody's Investors Services cut the ratings of six Canadian banks due to these concerns.

"The growth of household credit has shown signs of moderating in recent months," Bank of Canada Deputy Governor Timothy Lane said in the prepared text of a speech he was delivering at Harvard University in Cambridge, Massachusetts.

"The momentum in house price growth, sales of existing homes, and new construction has also moderated. Nonetheless, financial system risks associated with household imbalances remain elevated."

Lane warned household spending could still regain momentum or, conversely, there could be a sudden weakening.

The government has intervened four times in the mortgage market to discourage excessive borrowing and the banking regulator has also pressed banks to adopt stricter mortgage lending practices.

"If such targeted prudential measures turned out to be insufficient, monetary policy could also be used, within a flexible inflation-targeting framework, as a complementary instrument to address financial imbalances. So far, though, that has not been necessary in Canada," Lane said.

(Reporting by Louise Egan and Randall Palmer; Editing by Chris Reese)

Source: http://news.yahoo.com/bank-canada-says-credit-growth-slowing-risks-remain-212624975--business.html

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Sunday, February 10, 2013

Phil Mickelson Falls Down At Pebble Beach (VIDEO)

Phil Mickelson may have provided more comedy at the Pebble Beach Pro Am on Saturday than Bill Murray.

While looking for his ball on the 18th hole, Mickelson had to travel to the rocks. As he made his way down, he accidentally slipped and fell on his backside.

Whoops.

Deadspin called the tumble the "unquestionable sports highlight of this or any year," while SB Nation described it as "so, so Phil."

Mickelson, who won this tournament in 2012, ended up taking a triple bogey on the hole and shooting 1-over par in the third round. He's 1-under par overall heading into Sunday.

WATCH VIDEO ABOVE

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Too big to succeed

On December 20, 1994 Mexico?s newly installed president Ernesto Zedillo devalued the currency, the peso, by 15%. As a candidate he had said he would ?defend the peso like a dog.? That day the peso went from 3.47, where it had been for a year, to 3.95 and the trading floors of Wall Street were filled with the sounds of barking dogs.

On that day I was in research working with the emerging markets trading desk of Salomon Brothers. They had invested heavily in Mexico, as had most of the major investment banks.

That afternoon the Salomon trading floor was giddy; the first drop in the peso had been profitable for the firm. That happiness was short-lived as it began to understand the complexity of its positions in Mexico.

The majority of the risk came from complex financial structures called Principal Protected Peso Linked Notes. These were leveraged investments in local Mexican bonds sold to customers, who put down 20% to 30% cash and were lent the remainder.

The first losses were born by the customer, later losses by the firm. It had been profitable trade in a world where the peso moved less than 1% a month, but it was awful in the new world of daily moves of 15%.

By the end of that first day it was clear Mexico could not hold the peso at its new level and that they would have to devalue further. It was also becoming clear to the firm that it had a big mess on its hands and that any further losses would come from its pockets.

How was Salomon keeping track of its investments? In a spreadsheet built by the traders.

As the crisis continued to unfold it became clear that few, including myself, had understood what could go wrong. What had seemed a relatively straightforward asset was too complex to be managed in such an ad hoc manner.

This is far more common on Wall Street than most realize. Just last year JP Morgan revealed a $6 billion loss from a convoluted investment in credit derivatives. The post mortem revealed that few, including the actual trader, understood the assets or the trade. It was even found that an error in a spreadsheet was partly responsible.

Since the peso crisis, banks have become massive, bloated with new complex financial products unleashed by deregulation. The assets at US commercial banks have increased five times to $13 trillion, with the bulk clustered at a few major institutions. JP Morgan, the largest, has $2.5 trillion in assets.

Much has been written about banks being ?too big to fail.? The equally important question is are they ?too big to succeed?? Can anyone honestly risk manage $2 trillion in complex investments?

To answer that question it?s helpful to remember how banks traditionally make money: They take deposits from the public, which they lend out longer term to companies and individuals, capturing the spread between the two.

Managing this type of bank is straightforward and can be done on spreadsheets. The assets are assigned a possible loss, with the total kept well beneath the capital of the bank. This form of banking dominated for most of the last century, until the recent move towards deregulation.

Regulations of banks have ebbed and flowed over the years, played out as a fight between the banks? desire to buy a larger array of assets and the government?s desire to ensure banks? solvency.

Starting in the early 1980s the banks started to win these battles resulting in an explosion of financial products. It also resulted in mergers. My old firm, Salomon Brothers, was bought by Smith Barney, which was bought by Citibank.

Now banks no longer just borrow to lend to small businesses and home owners, they borrow to trade credit swaps with other banks and hedge funds, to buy real estate in Argentina, super senior synthetic CDOs, mezzanine tranches of bonds backed by the revenues of pop singers, and yes, investments in Mexico pesos. Everything and anything you can imagine.

Managing these banks is no longer simple. Most assets now owned have risks that can no longer be defined by one or two simple numbers. They often require whole spreadsheets. Mathematically they are vectors or matrices rather than scalars.

Before the advent of these financial products, the banks? profits were proportional to the total size of their assets. The business model scaled up linearly. There were even cost savings associated with a larger business.

This is no longer true. The challenge of risk managing these new assets has broken that old model.

Not only are the assets themselves far harder to understand, but the interplay between the different assets creates another layer of complexity.

In addition, markets are prone to feedback loops. A bank owning enough of an asset can itself change the nature of the asset. JP Morgan?s $6 billion loss was partly due to this effect. Once they had began to dismantle the trade the markets moved against them. Put another way, other traders knew JP Morgan were in pain and proceeded to ?shove it in their faces?.

Bureaucracy creates another layer, as does the much faster pace of trading brought about by computer programs. Many risk managers will privately tell you that knowing what they own is as much a problem as knowing the risk of what is owned.

Put mathematically, the complexity now grows non-linearly. This means, as banks get larger, the ability to risk-manage the assets grows much smaller and more uncertain, ultimately endangering the viability of the business.

Large banks will argue about the power of a diverse portfolio. That is true the 96% of the time the markets are benign, but as past crises have shown, when markets fall apart they do so in unison. Put another way, the power of diversity disappears exactly when banks need it.

The diversity argument also reminds me of a quote about Yankees manager Joe Torre, who was notorious for changing pitchers during a game. Said one reporter, ?He kept changing pitchers ?til he found one who sucked that night.?

The major banks prior to 2008 had a similar problem; they kept buying assets till they found the ones that would blow them up.

Citibank, Salomon Brothers successor, is a good example of this. In 2007 it had operations and income streams from almost every country in the world. If any bank could weather a downturn in one part of the US economy Citibank should have been it. Yet they didn?t. Instead they ended 2008 with a government bailout.

Why?

Citibank had so many diverse assets ($2 trillion worth) that it lost focus on what it owned while also making sure that if there was a problem in the world it would participate in it.

Much of its losses came from esoteric investments in the US mortgage markets, Super Senior Tranches of CDOs. Congressional testimony shows that these assets were seen by the firm as risk free and generated little scrutiny. They also added very little value, yielding barely more than US treasuries. Owning them proved a fool?s game, small initial returns but with a massive downside. It was like, as one trader commented, ?Picking up pennies ahead of a steamroller.?

It?s understandable why board members and CEOs want to grow the banks to gorge on complex financial structures despite the risk they pose. They come from the old world and still think profits grow with size. They know the biggest upfront profits come from opaque financial structures that allow them to extract bigger margins.

And for nine out of ten years they are right and get paid well, but they are building banks destined to fold under their own size and complexity. It?s the tenth year that is the cost to the equity holders and the general public.

Chuck Prince was the CEO of Citibank from 2003 to 2007. He roughly doubled the assets owned, from $1.3 to $2.2 trillion. He was fired in late 2007 as the stock collapsed from 55 to 2. During that period he was paid roughly $130 million.

The Mexican peso crisis ended with a $50 billion bailout engineered by the then US Treasury Secretary, Robert Rubin in early 1995. Days prior to the announcement rumors circulated that Lehman Brothers was teetering near bankruptcy, facing deadly losses should Mexico default.

Thanks to the bailout they didn?t. They needed another thirteen years and a few more stupid investments before accomplishing that.

Source: http://rss.sciam.com/click.phdo?i=08687c964891158bbadbac24e73d3e4e

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Franko Heke goes global - music - entertainment | Stuff.co.nz

franco

Franko Heke, a descendant of Hone Heke, has plans to take on the world this year.

?

Franko Heke?s taking on the world in 2013.?

The Kiwi rocker and unapologetic showman (he is after-all a descendant of Hone Heke) is working with US-based producer Jeff Silverman, who is remixing tracks from his solo album Vagabond, with a view to worldwide distribution.?

He?s also locking in a release tour to Japan in March and has been invited to be part of the New Zealand Arts Team to compete at the World Arts Games in Croatia in late June.?

The team is using one of Franko?s songs We Are One as its official anthem for the games.?

??I?m loving it, it?s starting to get really crazy,?? Heke says. ??That?s what rock?n?roll is all about. Last year was all about getting them music recorded and out there and creating a buzz. Now it?s about seeing where that buzz takes me.?

Someone who is already buzzing about Franko is Silverman, a Nashville-based producer who has worked with artists as diverse as Rick Springfield, Prince and George Clinton.

?They loved the record but strongly suggested I get it remixed and remastered for the world. I?m really enjoying working with Jeff because he understands that big American rock sound.

?I?m also looking at other options for distribution as well because it?s such a big call when you give the rights away to your jewel. Owning your own s**t is so important.

?I?m affiliated with Jay Rushton, who produces Steel Panthers. The band played on one of the songs on Vagabond ? When I?m Gone ? and when they toured New Zealand recently I supported them at the Powerstation in Auckland and we killed it. It was an amazing night.

?They have residencies at the House of Blues in Los Angeles and Las Vegas and we?ve talked about me going over there and doing so opening gigs for them, so I?m just seeing what kind of opportunities can come out of that relationship.?

The end of June will see Franko heading to Croatia as part of the New Zealand Arts Team.

?That?s a real cool double banger,? Franko says. ?I?m really excited because I?m part Maori and part Italian, so I?m going to jump the ditch and explore my Italian heritage.?

?I really love the rock?n?roll lifestyle. It comes out of making the decision to do what I want to do every minute of the day while also staying grounded. That?s why I am such a big fan of Guns N? Roses phrase Use Your Illusion. In this day and age when you decide to do what you want to do, play what you want to and dress how you want to, you are in the minority because the majority seem to be more similar to each other.

"I want to stand out and am happy to put up with all of the bullshit that people throw my way. I ain?t going to be a mushroom, that?s for sure. If ya aint got no criticism you probably aint got no fans either.??

- ? Fairfax NZ News

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Source: http://www.stuff.co.nz/entertainment/music/8283039/Franko-Heke-goes-global

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Saturday, February 9, 2013

Amanda Beard Expecting Second Child

The seven-time Olympic medalist and her husband, photographer Sacha Brown, are expecting their second child in July, Beard confirms to PEOPLE exclusively.

Source: http://feeds.celebritybabies.com/~r/celebrity-babies/~3/1IXQUv5RjPA/

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John Groce Son Photo: Illinois Coach Celebrates Win Over Indiana With Son Conner

After Illinois' upset No. 1 Indiana with a wild buzzer-beater on Thursday night, Fighting Illini coach John Groce gave us one of the most heartwarming moments, and an early candidate for photo of the year, as he rejoiced with his young son Conner.

Cue the collective "awww."

Joe Robbins of Getty Images caught the moment perfectly as we are reminded why sports are great.

john groce

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Source: http://www.huffingtonpost.com/2013/02/08/john-groce-son-photo-illinois-indiana-win_n_2646619.html

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Friday, February 8, 2013

THE RESET: Obama on deck for 2nd big speech in row

Re-elected presidents and their speechwriters often have a verbal overload problem at the outset of second terms: They must produce a State of the Union address just weeks after a second inaugural address.

It's hard to be lofty, eloquent and soaring twice in a row.

After he delivers his State of the Union address Tuesday, President Barack Obama will also face logistical problems not usually confronted by re-elected presidents.

While inaugurals tend to be inspirational, aspirational but somewhat vague, a president's diagnosis of the nation's health usually packages a sweeping catalogue of goals with a laundry list of proposed new and recycled legislation ? to be fleshed out in the annual budget he sends to Congress a week or two later.

This year the schedule was turned topsy-turvy by Obama's postponing his budget submission to sometime in March ? putting it well after a March 1 deadline for deep mandatory government spending cuts. If those "sequester" cuts occur on schedule, they will have a direct bearing on the president's budget.

"I want to keep my remarks short because I just made a pretty long speech a couple of weeks ago, and I'm about to make another next week, and I don't want you guys tired of me," Obama joked at a House Democratic retreat Thursday before answering questions behind closed doors.

First he offered a short preview of next week's speech: job creation, education, clean energy and, "yes, deficits and taxes and sequesters and potential government shutdowns and debt ceiling ? we'll talk about that stuff."

Obama has proposed a small package of spending cuts and tax increases to delay the March 1 sequester cuts. So far, Republicans have rejected the plan, even though House Speaker John Boehner likens the threatened cuts to "taking a meat ax to our government."

Opposition parties often call presidential budgets "dead on arrival." This year, Republicans suggest it's ailing even before birth.

___

Follow Tom Raum on Twitter: http://www.twitter.com/tomraum

Source: http://news.yahoo.com/reset-obama-deck-2nd-big-speech-row-170059745--politics.html

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BlackBerry tries for patents on concertina-like keyboards in smartphones

BlackBerry tries for patents on concertinalike keyboards in smartphones

When we think of hidden keyboards on our phones, our thoughts usually turn to thick sliders -- notwithstanding the occasional wacky twister. BlackBerry has filed for a pair of patents that would be even subtler by hiding the keys inside of a phone's main body. Looking somewhat like concertinas in practice, the concepts would pivot keys into place as the phone owner pulls out a retractable section to start typing. BlackBerry suggests it could work for both conventional smartphones (what you see above) as well as a not-entirely-practical design with keys on opposite sides of a display, much like a single-screen LG Doubleplay. We're not expecting BlackBerry to ship related products anytime soon when the Q10 represents its immediate future in hardware keyboards, but it's tough to rule out the ideas altogether when they could slim keyboarded phones without losing that coveted stealthiness. They might stand a better chance of reaching the market than some of BlackBerry's more outlandish experiments.

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Celtics rout Lakers 116-95 for 6th straight win

Boston Celtics forward Kevin Garnett (5) shoots while surrounded by Los Angeles Lakers during the first half of an NBA basketball game in Boston, Thursday, Feb. 7, 2013. (AP Photo/Charles Krupa)

Boston Celtics forward Kevin Garnett (5) shoots while surrounded by Los Angeles Lakers during the first half of an NBA basketball game in Boston, Thursday, Feb. 7, 2013. (AP Photo/Charles Krupa)

Boston Celtics forward Paul Pierce, right, pressures Los Angeles Lakers guard Kobe Bryant, left, on a drive to the basket during the second quarter of an NBA basketball game in Boston, Thursday, Feb. 7, 2013. (AP Photo/Charles Krupa)

Los Angeles Lakers center Dwight Howard (12) tries to break free from Boston Celtics forward Kevin Garnett (5) on a drive to the basket during the first quarter of an NBA basketball game in Boston, Thursday, Feb. 7, 2013. (AP Photo/Charles Krupa)

Boston Celtics forward Paul Pierce (34) dumps off the ball to center Jason Collins (98) as he is pressured by Los Angeles Lakers center Dwight Howard (12) during the first quarter of an NBA basketball game in Boston, Thursday, Feb. 7, 2013. At right is Lakers guard Kobe Bryant (24). (AP Photo/Charles Krupa)

Boston Celtics forward Jeff Green (8) shoots over Los Angeles Lakers center Dwight Howard, right, during the first quarter of an NBA basketball game in Boston, Thursday, Feb. 7, 2013. (AP Photo/Charles Krupa)

(AP) ? The familiar "Beat LA!" chant started in the third quarter.

It's easier to do that now than it was during most of the Lakers-Celtics rivalry. But there's still something special when the teams who have met in a record 12 NBA Finals face each other, even if they've been struggling just to reach the playoffs.

"No matter what direction these teams are going, it'll always be a rivalry," Paul Pierce said. "Everybody's always going to watch."

On Thursday night, they saw a 116-95 rout by Boston, its biggest win of the season and Los Angeles' worst loss.

The Lakers got Dwight Howard back after he missed three games with a sore right shoulder. He had nine points and nine rebounds in 28 minutes before fouling out with 5:07 left.

"There were a couple times where I felt" pain in the shoulder, he said. "I just tried not to think about it."

But they were without Pau Gasol for the first time since he was diagnosed with a torn plantar fascia in his right foot that will sideline him indefinitely.

Boston was missing two key players, both out for the season. Point guard Rajon Rondo sat out his sixth game with a torn ligament in his right knee and the Celtics have won them all. Rookie forward Jared Sullinger missed his fourth game following back surgery.

In fact, only two active players on each team remained from the 2010 squads that reached the NBA Finals, won in seven games by the Lakers ? Pierce and Kevin Garnett for Boston and Kobe Bryant and Metta World Peace for Los Angeles.

In 2008, the Celtics won the title in six games over the Lakers. Before that, they met three times in the Larry Bird-Magic Johnson era of the 1980s with Los Angeles winning twice.

"You walk through these hallways when you come in here," said Pierce, who scored 12 of his 24 points in the third quarter when Boston pulled away. "You see the whole rivalry, pictures. You see throughout the decades how it goes, regular season, postseason, championship. It's always going to have that extra little edge to this game."

But now the Lakers are in 10th place in the West, 3 1/2 games behind the Houston Rockets for the final playoff spot in the conference despite winning six of their last eight games. The Celtics broke a seventh-place tie with the Milwaukee Bucks in the East and trail the Atlanta Hawks by just 1 1/2 games for sixth.

They've moved up without their star point guard.

"Our guys just think they're good," Boston coach Doc Rivers said. "We're playing selfless and free."

The Lakers aren't passing the ball well enough with just 16 assists on Thursday or shooting accurately with just a 41.4 field goal percentage against the Celtics.

"For whatever reason, we didn't come out real sharp," Los Angeles coach Mike D'Antoni said. "Defensively, it was disappointing that we didn't fight as hard as we've been fighting."

Jeff Green scored 19 points for the Celtics and Kevin Garnett and Jason Terry had 15 each. Garnett became the 16th player in NBA history to score 25,000 points.

Without Rondo controlling the ball, the Celtics are concentrating on moving it quickly and shooting it when they're open. The Lakers gave them plenty of unchallenged shots.

"The roof just kind of caved in on us and it gave them a lot of transition points and easy baskets," said Bryant, who had 27 points. "They were hot. I can't really remember them missing a shot in the third quarter."

They actually missed five. But they made 16, outscored the Lakers 37-25 and ended the period with a 95-69 lead.

"I said to the guys at halftime (if) we rebound the ball a little bit better, we can get out and run and open this game up and I thought that's exactly what we did in the third."

The Lakers cut a 58-44 halftime deficit to 72-61 with 5:07 left in the third quarter, but they came no closer as the Celtics went on a 23-8 run to build their 26-point lead going into the fourth. Pierce started the surge with a three-point play and ended it with a 3-pointer with 41 seconds left.

"The first half was just as bad as the second," said Lakers point guard Steve Nash, who had just nine points and five assists. "Disappointing performance, start to finish."

Perhaps, but to Pierce it was pretty special, another chapter in the rich rivalry.

"It always feels good when you can give them a little old-fashioned beatdown in your house," he said, "no matter what direction these teams are going."

Notes: The Celtics had just nine turnovers to 13 for the Lakers. ... Boston made five of 11 shots from 3-point range. The Lakers were just 5 for 23 and missed 12 of 30 free throws with Howard missing five of six. ... Boston plays at home Sunday for the sixth time in seven games when it meets the Denver Nuggets. ... The Lakers are 3-2 on their seven-game road trip, which continues Friday night in Charlotte and ends Sunday in Miami. ... Six Celtics scored in double figures, the fifth straight game in which they had at least five.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/347875155d53465d95cec892aeb06419/Article_2013-02-08-Lakers-Celtics%20Folo/id-cb2d796b099647178aaf6ec55712e5e2

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Handbag fundraiser raises money for cancer organization ... - WTVR 6

Posted on: 8:23 pm, February 7, 2013, by Victoria Lushbaugh, updated on: 08:26pm, February 7, 2013

HENRICO COUNTY, Va. (WTVR) ? Cancer patients often have to battle more than just the devastating disease. The?legal and financial challenges of treatment can become overwhelming, too.

The Legal Information Network for Cancer or LINC offers help for cancer patients in Central Virginia.

Michelle Goodwin said neededed help after she was diagnosed with a Non-Hodgkins Lymphoma at 27 and quit her West Coast advertising?job.

Goodwin said?LINC?helped answer her legal and insurance questions.

?The relief that comes from knowing that someone is going to help you solve this insane problem that weighs on you almost more than having cancer,? ?Goodwin said. ?The money thing; that?ll make you? sick in itself.?

The ?It?s in the Bag? fundraiser for?the organization took place Thursday?at 7 p.m.?in Glen Allen?at the Snag-a-Job headquarters.

LINC auctioned off more than 100 handbags during their biggest fundraiser of the year.

Source: http://wtvr.com/2013/02/07/handbag-fundraiser-raises-money-for-cancer-organization/

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Leicester and York Debate Where Richard III Should Be Reburied

[unable to retrieve full-text content]Anticipating potential tourism revenue, the cities are fighting over the remains of King Richard III just days after his bones were found in a parking lot.

Source: http://www.nytimes.com/2013/02/08/world/europe/leicester-and-york-debate-where-richard-iii-should-be-reburied.html?partner=rss&emc=rss

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Thursday, February 7, 2013

GPE EXCEEDS $100 MILLION REVENUE FOR 2012; A RESULT ...

Phoenix, AZ ? February 6, 2013 ? (RealEstateRama) ? GPE Commercial Advisors, a local industry cornerstone and leading third-party commercial real estate firm have many reasons to celebrate one of their best fiscal years since the economy faltered. Their 2012 results are as follows:

? Approximately 400,000 sq feet of leased space
? Approaching 1.7 million sq feet in real estate sales
? Exceeding $100 million in generated revenue

President of GPE, David Genovese said, ?I am proud of our team who helped produce these outstanding results through their strong work ethic, business savvy and dedication to exceptional client relations. This is applied to every aspect of what GPE does ? from sales and leasing, accounting, consulting, tenant-owner relations, marketing to human resources.?

About GPE:
Established in 1973, GPE Commercial Advisors and GPE Management Services are the premier providers of award-winning, commercial real estate sales, leasing, property management and consulting solutions for business, office, medical, dental, retail and industrial properties in the Greater Phoenix Metropolitan area. 2012 Ranking Arizona ranks GPE Commercial Advisors as the Valley?s #1 commercial real estate company and GPE Management Services among the top ten property management companies.

GPE has also been named a Top Leasing Firm by CoStar Power Broker Awards, and one of the Valley?s ?Best Places to Work? by Phoenix Business Journal.

GPE Companies
2777 East Camelback Road, Suite 230
Phoenix, Arizona 85016
480-994-8155 | www.GPE1.com

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    Arizona Commercial Real Estate Transaction Report March 20, 2012 (Phoenix, Arizona) - GPE Commercial Advisors (gpe1.com) reported closing 18 commercial transactions in the amount of $5.6M for 355,515 square feet in February 2012. - $3.6M in commercial ......
  • GPE Closes 95,037 Square Feet for $9.6M in December 2011
    January 27, 2012 (Phoenix, Arizona) - GPE Commercial Advisors (gpe1.com) reported closing 25 commercial transactions in the amount of $9.6M for 95,037 square feet in December 2011. ? $4.7M in commercial sales (54,212 SF) ? $3.1M in commercial lease......
  • GPE Companies Honored with Multiple Awards in March, 2012
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Source: http://www.realestaterama.com/2013/02/06/gpe-exceeds-100-million-revenue-for-2012-a-result-of-%E2%80%9Cwork-ethic%E2%80%9D-%E2%80%9Cexceptional-client-relations%E2%80%9D-ID018790.html

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Wednesday, February 6, 2013

Gov. Cuomo's grand plan post-Sandy: give some of New York back to nature (+video)

New York Gov. Cuomo is proposing creation of an undeveloped coastal buffer zone by spending $400 million to buy and demolish up to 10,000 homes destroyed by superstorm Sandy.

By Husna Haq,?Correspondent / February 4, 2013

Beachfront homes are damaged after a storm surge from superstorm Sandy in the Staten Island borough of New York, Nov. 2012. New York Gov. Andrew Cuomo wants to spend up to $400 million to buy and demolish homes wrecked by Superstorm Sandy and permanently preserve the land as undeveloped coastline.

John Minchillo/AP/File

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Following through on his post-Sandy assessment that protecting New York state from coastal flooding would be a ?massive undertaking,? Gov. Andrew Cuomo (D) is proposing the return of some flood-prone parcels of land to Mother Nature, spending $400 million to buy and demolish as many as 10,000 homes destroyed by the October superstorm.

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Officials from Governor Cuomo?s office met with federal officials in Washington late Friday to present the ambitious hurricane recovery proposal, which would convert the purchased properties into an undeveloped buffer zone that would protect coastal communities from future storms.

The plan, which requires federal approval, would be funded in part from the $51 billion disaster relief package Congress approved in January, as well as from the federal Department of Housing and Urban Development, an agency Cuomo once headed.

In the wake of the Oct. 29 storm that damaged or destroyed more than 300,000 housing units in New York state, Cuomo has issued controversial warnings about climate change and has led efforts to find long-term solutions against future storms and floods.

?Climate change is a reality, extreme weather is a reality, it is a reality that we are vulnerable,? Cuomo said at a Sandy-recovery briefing in October. ?Protecting this state from coastal flooding is a massive, massive undertaking. But it?s a conversation I think is overdue.?

In more recent speeches, Cuomo has suggested residents should abandon flood-prone areas. ?There are some parcels that Mother Nature owns,? he said in his January State of the State address. ?She may visit once every few years, but she owns the parcel and when she comes to visit, she visits.?

As part of his plan to return parcels of land to nature, Cuomo has proposed using federal and disaster relief funds to purchase and raze roughly 10,000 homes destroyed by Sandy in the 100-year floodplain, a zone that has a 1 percent chance each year of experiencing greater than normal flooding.

Under the proposal, the state would offer homeowners the pre-storm full market value of their house. Those in severe flood-prone areas would receive a 10 percent bonus above market value as an added incentive to sell. In extreme-risk areas, the state would offer an additional 10 percent bonus if every homeowner on a block signed up for the buyout.

Source: http://rss.csmonitor.com/~r/feeds/csm/~3/aIKVFsBF6b8/Gov.-Cuomo-s-grand-plan-post-Sandy-give-some-of-New-York-back-to-nature-video

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Netflix could gain from loss of Sat. mail delivery

FILE - In this Thursday, Aug. 23, 2012, file photo, a Netflix envelop containing a DVD to be returned by mail is clipped onto a mailbox, in Springfield, Ill. Netflix won?t miss Saturday mail delivery, even though the weekend service helped keep its DVD-by-mail subscribers happy. The U.S. Postal Service?s planned shift to five days of home delivery a week instead of six may even make Netflix Inc. slightly more profitable. (AP Photo/Seth Perlman)

FILE - In this Thursday, Aug. 23, 2012, file photo, a Netflix envelop containing a DVD to be returned by mail is clipped onto a mailbox, in Springfield, Ill. Netflix won?t miss Saturday mail delivery, even though the weekend service helped keep its DVD-by-mail subscribers happy. The U.S. Postal Service?s planned shift to five days of home delivery a week instead of six may even make Netflix Inc. slightly more profitable. (AP Photo/Seth Perlman)

(AP) ? Netflix won't miss Saturday mail delivery, even though the weekend service helped keep its DVD-by-mail subscribers happy.

The U.S. Postal Service's planned shift to five days of home delivery a week instead of six may even make Netflix Inc. slightly more profitable by lowering the costs for sending out its familiar red envelopes with DVDs. That's because subscribers may be able to watch fewer DVDs for the same monthly price.

For Netflix customers, DVDs that used to arrive on Saturday would come on Monday instead, delaying when they could watch a movie and send it back for the next one. Those who want to make sure they have a DVD to watch on the weekend might have to mail the discs back to Netflix a day earlier to ensure that they receive it on Friday.

However, analysts believe few customers are likely to mind. Most Netflix subscribers no longer get DVDs anyway, and those who do often let their discs sit on shelves for days or weeks, so the extra waiting time won't hurt that much. Complaints are more likely to come from subscribers who try to watch as many DVDS as possible each month ? an unprofitable audience for Netflix anyway.

Investors reacted positively to Wednesday's announcement that the U.S. Postal Service intends to stop Saturday home delivery beginning Aug. 10. Netflix's stock gained $10.02, or nearly 6 percent, to close Wednesday at $184.41. Earlier in the session, the stock hit a new 16-month high of $185.14.

Under the plan, mail would be delivered to homes and businesses only from Monday through Friday, but it would still be delivered to post office boxes on Saturdays. The plan, designed to save about $2 billion a year, could face a challenge from Congress.

Investors' reaction might have been different if Saturday mail service had been eliminated three years ago, when the idea was first broached.

Back then, mailing DVDs was still Netflix's main business. It was so important that Netflix grew into the postal service's biggest customer. When the total number of Netflix's subscribers receiving DVDs peaked at 24.6 million during the summer of 2011, the company was spending about $600 million annually for discs to make the round trip between customers' homes and dozens of distribution centers around the U.S.

Netflix began this year with just 8.2 million DVD subscribers, and the number is expected to keep dwindling as the instant gratification of being able to watch video over the Internet makes the notion of watching movies and TV shows on DVDs seem antiquated. By contrast, Netflix had 27.1 million Internet video subscribers in the U.S. at the start of the year. It doesn't even offer the DVD option in Canada, Latin America, the United Kingdom and other markets it's expanding to.

Janney Montgomery Scott analyst Tony Wible estimates that Netflix will spend about $300 million on postal expenses this year and perhaps as little as $200 million next year, depending how many more DVD subscribers cancel their service. The company no longer discloses its postal expenses.

The DVD-by-mail service began to shrink in mid-2011 when Netflix unbundled it from its rapidly growing service for streaming video to TVs and other devices with high-speed Internet connections. The change required Netflix customers to pay separate monthly fees if they wanted both Internet video and DVDs through the mail, which offered the latest theatrical releases more quickly.

The switch raised Netflix's prices by as much as 60 percent for those who wanted both options, much to the anger of hundreds of thousands of subscribers who canceled. Most customers, though, decided to stick with Internet video and dropped DVDs.

If Saturday mail delivery ends as planned this summer, even more subscribers may opt for a streaming-only plan.

Wedbush Securities analyst Michael Pachter doubts most DVD subscribers will care about the loss of Saturday delivery. The customers most likely to be irked are ones who typically watch eight to 10 DVDs per month, because four or five fewer days of mail delivery each month will make it more difficult to get as many discs. "Those guys cost them money, so if they quit, it won't hurt them," Pachter said.

Netflix makes more money when its subscribers watch fewer DVDs in a month because its expenses go down while the monthly fee remains unchanged. The DVD plans start as $8, as do the ones for Internet streaming.

Even though Netflix has fewer DVD subscribers, that side of the business is still slightly more profitable than the streaming service. That's mainly because Netflix's licensing fees for Internet video are higher than its DVD expenses.

Netflix, which is based in Los Gatos, Calif., had little to say about Wednesday's developments, other than to say it's "in favor of a healthy postal service."

Netflix CEO Reed Hastings was more forthcoming during an April 2010 conference call with analysts. If Netflix were to lose Saturday home delivery before the company had more time to expand its streaming service, "it's not a good thing for us," Hastings said then. "We hope they hold off as long as possible, but we're also cognizant that the total health of the USPS is at stake, and they may need to make changes that they need to make."

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/495d344a0d10421e9baa8ee77029cfbd/Article_2013-02-06-Netflix-Postal%20Cuts/id-eeda7632b84140d0b1bdb455bc447879

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Dyson's Airblade Tap lets you wash and dry right in the sink

Dyson continues its streak of unlikely innovation in the world of hand-dryers with the Airblade Tap, which allows you to wash your hands and dry them without leaving the sink.

It may seem strange at first to focus so much engineering prowess on the question of how to best dry people's hands, but it's not a trivial problem: Paper towels are effective but wasteful, and other air dryers can be unhygienic, and power hogs to boot.

Dyson's latest device aims to solve all those problems ? as well as that of having to carry your drippy hands over to the dryer, leaving the floor wet and slippery (and a haven for germs).

It's called the Airblade Tap, and it's essentially the well-known air-jet hand dryer built right into a faucet. You put your hands under the tap and it turns on automatically, then when you're ready to dry, you simply put your hands under the tubes that project outward, and the air starts blasting out.

The excess water is fired into the sink, which is much better than having it fly all over the floor or collecting it inside the dryer. And there's no need to touch anything throughout the whole process. With an estimated yearly running cost of $48, it should pay for itself in savings over paper towels in a few years.

Dyson also added a compact new wall unit to its line of hand dryers, and updated the existing Airblade with the motor they developed for the Tap. Expect these fancy new sinks to start popping up in hotels, airports, and other public places later this year ? there's no US pricing yet, but the Tap will sell in the UK for ?999, or around $1500.

Devin Coldewey is a contributing writer for NBC News Digital. His personal website is coldewey.cc.

Source: http://www.nbcnews.com/technology/gadgetbox/dysons-airblade-tap-lets-you-wash-dry-right-sink-1B8242982

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Tuesday, February 5, 2013

The "Reality" Of Metals Investing

I don?t know about you, but here in Pittsburgh, the weather has been crazy. Zero temps and subzero wind-chill early last week, with lots of snow. Then later on? Mild, springlike temps and thunderstorms. Now, though, it?s back to the deep freeze, with vicious winds.

Two words come to mind: San. Diego. Investmentwise, two more words come to mind: Precious. Metals?

Through the ups and downs I see basic support for precious metal prices ? gold, silver, platinum and palladium. They?ve found a floor. Prices are holding, with plenty of inflation built into the dollar supply (no matter what you hear in the mainstream), courtesy of the Federal Reserve and its $85 billion per month of bond buying. There?s just a lot of Keynesian thinking at work. Too much, some might say.

Platinum and palladium (PGMs), as I told you about last week, are a solid buy. I see limited downside with this one, because the supply deficit in the PGM metals is here and not going away. The demand side is primed to explode.

For those of you who want to accumulate a stash of something else, I suggest you skip the gun shows, where AR-style weaps are about triple the recent price. Instead, go for physical silver just now. Of course, don?t turn down the chance to buy physical gold, either, if you can get it without too much in the way of markup. If you do NOT hold any physical metal? Get some. Gold. Silver. (Don?t forget brass, if you know what I mean.)

On the merely valuable side ? but not quite as precious ? copper prices are firm too. The recent price for copper has been solid, within a dime or so of $3.70 per pound. There?s no apparent demand weakness, what with globally active construction and industrial activity.

This is not a ?China boom? time for copper, like five or six years back, but things are better than a lot of people think. I believe that a company like Freeport-McMoRan will have solid earnings this year and its share price will benefit.

Switching metals, let?s discuss uranium. The spot price of which ? at $42 per pound ? is ridiculously low and set to rebound. I had a long discussion with a couple of serious uranium scholars earlier this week. They?ve been doing uranium in both government and private industry since the 1970s. They?ve seen all the different rodeo acts.

These gents laid out a strong case for strengthening yellowcake prices this year ? 2013 ? and well into the future. ?Yellowcake,? said one, ?is comparable to where gold was 10 years ago. We?re looking at prices four-six times higher in the out years.?

That?s quite a claim ? $150-250 per pound ? and if it works out, it makes great news for uranium producers. You know, the guys that are already producing the stuff.

Begin with the eye-popping cost of acquiring ?new? uranium supplies. When you add up all the exploration and development costs, a new uranium mine scopes out in the range of $100-120 per pound. This is nearly triple the current spot price. And it?s before you factor in the vagaries of future tax changes and higher interest rates. After all, it pays to build a mine only if there?s a decent return on investment.

Expanding existing mines, on the other hand, is problematic. Everyone who?s trying to expand a mine confronts serious sticker shock. Look, for example, at how BHP Billiton deferred expansion at the gigantic site at Olympic Dam, Australia, as costs topped $20 billion.

A 10-figure level of capex approaches the limit of private enterprise in any respect. That?s big, even for the oil industry, let alone miners ? and I mean even the biggest of the big. We?re talking about a major defense program or space program level of capex, plus comparable difficulties in recruiting personnel, developing technology and scheduling the whole thing to work over a decade or more.

Look at it another way. Who can afford to make those kinds of energy investments? Governments, perhaps. Or more likely, government-industry partnerships. In the future, look for business forms in which the mining consortium becomes sort of a public utility, with all the legalistic bells and whistles something like that entails. But without government help? Big energy projects likely won?t happen. And then there goes the supply curve.

On the demand side, the China story is ?real and getting more real,? according to my sources. The Chinese need electric power, and they?re currently burning coal because they have it, not because they want to. Chinese air pollution is now a national problem ? as I discussed in the article noted above. Inside China, large future power projects all have to show an environmental angle to receive state approval. So says the Communist Party.

Across the sea from China, the stories you hear about Japan eliminating its nuclear power plants are ?fairy tales,? according my sources. After the Fukushima disaster, two years ago, initial sentiment in Japan was to move away from nuclear power. It was all emotion. ?And then came reality,? the man said.

Basically, Japan looked at the bill for importing liquefied natural gas (LNG), now in the $20 per mcf range. Plus, Japan is watching China build up its navy, which threatens Japan?s sea lines of commerce and communication, pertinent to oil and coal imports.

The bottom line is that rebuilding its nuclear power base gives Japan another reason to pour more concrete, which is as much a Japanese national pastime as baseball.

Unlocking Value in the Oil Biz

Let?s look at the oil side of things. There?s a trend within the industry, within shareholder groups, to demand more and better return from management. The movement is getting much stronger, and this may be a year to remember.

There?s a shareholder push at Hess Oil, for example, to move the company to deliver higher returns. Hess has already announced that it?ll close its aging, 70,000 barrel per day refinery at Port Reading, N.J. The facility is another casualty of weak refining profits on the East Coast in recent years.

Beyond closing money losers, however, there?s the possibility of Hess spinning off its entire exploration and production operation in the Bakken Formation of North Dakota as a separate entity. Hess shares have climbed on the news (as Dan Amoss wrote about on Friday.)

Elsewhere in the oil patch, similar shareholder activity is rattling the dishes. There are plenty of opportunities out there, as my paid-up readers know.

MENA Problems

Looking ahead, I see better days ? better years, actually ? for offshore players. Offshore is where there?s lots of oil. Also, offshore, there are far fewer Islamist terrorists.

The recent attack on the BP facility in Algeria marked a milestone. Up to now, the energy industry had an acceptable working presence across the Middle East and North Africa (MENA). Shiny, energy-producing technology existed side by side with the ancient caravan routes. Westerners did their work and kept a low profile. There wasn?t too much trouble ? occasional, but manageable.

That is, up to recently, people made deals and drilled wells. Oil and gas flowed to the coastlines, to refineries, tankers and transoceanic pipelines. Everybody got paid.

Now? With the BP attack in Algeria? The terrorists have determined that Westerners and energy interests are fair game. It?s part of the militant Islamist awakening across MENA.

It doesn?t really matter that the Algerian government sent in troops almost immediately, guns blazing, and wiped the terrorists out to the last man. The global energy industry ? Western players, but national oil companies, as well ? must deal with the new reality of development amidst a vast battle space of irregular warfare. It?ll make everything more difficult, time-consuming, costly, riskier.

What?s the answer? There?s no real ?answer.? You just have to deal with it. Welcome to the 21st century. You?ll have to invest around it. And on that note, thank you for reading.

Best wishes,

Byron W. King

Original article posted on Daily Resource Hunter?

Byron King

Byron King is the managing editor of Outstanding Investments and Energy & Scarcity Investor. He is a Harvard-trained geologist who has traveled to every U.S. state and territory and six of the seven continents. He has conducted site visits to mineral deposits in 26 countries and deep-water oil fields in five oceans. This provides him with a unique perspective on the myriad of investment opportunities in energy and mineral exploration. He has been interviewed by dozens of major print and broadcast media outlets including The Financial Times, The Guardian, The Washington Post, MSN Money, MarketWatch, Fox Business News, and PBS Newshour.

Source: http://dailyreckoning.com/the-reality-of-metals-investing/

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