Thursday

Foreclosure offerings in Nevada are hardly a steal, report finds


Buying a distressed home in Nevada was no bargain last year.

The average sales price of a home in some stage of foreclosure — such as having a notice of default or being bank-owned — was $126,521 in 2012, almost 6 percent higher than in 2011, according to a new report from RealtyTrac.

Also, the state’s average foreclosure discount of 19 percent — the price break compared with nondistressed homes — was well below the national average of 31 percent.

About 34,900 distressed homes were sold in Nevada last year, down 36 percent from 2011. Still, they accounted for 37.78 percent of all home sales statewide last year, the third-highest rate in the country.

California was No. 1 at 38.05 percent, followed by Georgia at 37.83 percent. Nationally, distressed homes accounted for 21.4 percent of all sales.

Las Vegas Valley home buyers and brokers say there is fierce competition for all homes, distressed or otherwise. That’s because of the limited inventory and the seemingly endless appetite of cash investors, who buy cheap homes in bulk to use as rentals.

Meanwhile, the number of short sales — in which a lender agrees to sell a home for less than what’s owed on the mortgage — soared by 86 percent last year in Nevada, RealtyTrac reported. They accounted for 33 percent of all home sales statewide, and the average amount owed was $121,977.

But just because short sales are a dominant force in the housing market doesn’t mean they’ve become any faster to process. It still can take six months to a year — if not longer — to complete a deal.

Nationally, short sales rose 4 percent from 2011 and comprised 22 percent of all sales last year. The average amount owed was $81,621.

source: vegasinc.com

Wednesday

Judge tosses mortgage ‘robosigning’ case in Vegas

A Nevada judge has dismissed all charges in a marquee felony criminal complaint the state attorney general filed in December 2011 accusing two lending services company employees of being part of a massive mortgage fraud "robosigning" scheme.

A lawyer for defendant Gary Trafford called Clark County District Court Judge Carolyn Ellsworth's decision on Monday to dismiss all 306 felony and misdemeanor charges against his client and co-defendant Gerry Sheppard as "extraordinary."

The attorney, John Hueston, on Tuesday accused Nevada Attorney General Catherine Cortez Masto and deputies of "prosecutorial misconduct" in the way they presented information to a grand jury to gain an indictment against Trafford and Sheppard.

Masto issued a statement saying there was no intent to mislead the grand jury.

She says she's considering whether to refile criminal charges.

source: lasvegassun.com

Police: Driver in fatal DUI could hardly stand up

Police say a man accused of driving onto a Las Vegas sidewalk and hitting two pedestrians was so impaired he couldn't take a sobriety test.

An arrest report provides details about the Sunday evening crash that killed 52-year-old Brenda Smiley and injured a 39-year-old man.

Authorities say a Nissan Titan was traveling eastbound on Sahara Avenue when it made an abrupt right turn and drove into oncoming traffic on Valley View Boulevard. It then went up onto the sidewalk and hit the two before fleeing the scene.

Witnesses following the Titan guided police to the vehicle.

Authorities say 33-year-old driver Jason Manuma could hardly stand and was slurring his speech during his arrest. He told police he'd taken cough syrup earlier.

Officers say they found marijuana paraphernalia in the truck.

source: lasvegassun.com

BIR collects P94.74B in January

The Bureau of Internal Revenue collected P94.74 billion in January, up 11.27 percent from the P85.15 billion the agency collected in January 2012, BIR data showed Wednesday.

Of the total, P89.03 billion was collected from BIR operations (regular tax revenues). P5.71 billion was collected from non-BIR operations, or taxes on government securities sold at auction by the Bureau of the Treasury.

Last week, the government said it will step up efforts to boost collections from the country's large taxpayers by using technology- and information-based solutions, particularly the enhancement of the audit process through statistical analysis using industry and economic benchmarks to identify taxpayers at high risk of non-compliance.

Large taxpayers account for the biggest share in the BIR's total revenues, with the bureau's Large Taxpayers Service collecting P649.95 billion, or 64 percent of total collections from BIR operations, last year. The LTS collection target for 2013 is P768.3 billion.

Last year, BIR collected a total of P1.057 trillion, just P9 million short of its P1.066-trillion target. For 2013, the Department of Finance has given the BIR a revenue collection target of P1.253 trillion. — BM, GMA News

source: gmanetwork.com

Monday

Rookie Oscar host Seth MacFarlane lives up to provocative image


LOS ANGELES - Rookie Oscar host Seth MacFarlane casually slung a string of zingers at some of Hollywood's biggest names, including a musical tribute to female frontal nudity in the movies, as he launched the Academy Awards show Sunday on a decisively edgy note.

First-time Oscar producers Neil Meron and Craig Zadan recruited MacFarlane in a bid to inject a greater sense of the unexpected, and hopefully bigger television ratings, a year after veteran host Billy Crystal performed his ninth stint at the helm of the live broadcast.

And MacFarlane fully embraced his role as provocateur-in-chief.

In an opening monologue and package of song-and-dance numbers obviously calculated to live up to, and even lampoon, his own reputation for pushing the boundaries of taste, MacFarlane put his biting, sardonic brand of humor front and center.

He started off joking that Best Picture front-runner and eventual winner, "Argo," about a real-life clandestine CIA operation to rescue American hostages from Iran, was "so top secret that the film's director is unknown to the Academy."

The barb was a not-so-subtle jab at members of the Academy of Motion Picture Arts and Sciences for failing to nominate Ben Affleck as best director for the critically acclaimed film.

"They know they screwed up," MacFarlane added, as the camera panned to a shot of Affleck, looking somewhat uncomfortable in his seat. "Ben, it's not your fault."

The edgy quotient quickly escalated as MacFarlane described another best-film candidate, "Django Unchained," as the slavery-era "story of a man fighting to get back his woman who has been subjected to unthinkable violence - or as Chris Brown and Rihanna call it, a date movie."

The punch line reference to the physical abuse involved in the relationship between the two R&B singers - Brown pleaded guilty to assaulting Rihanna in 2009 - drew an audible groan from the star-studded Dolby Theater audience.

"Oh, no, that's what we were afraid he would do," MacFarlane dead-panned.

Lustier groans came later in the evening when MacFarlane, talking about the portrait of the 16th president of the United States in the Oscar-nominated film "Lincoln," quipped that "the actor who really got into Lincoln's head was John Wilkes Booth."

"One-hundred and fifty years (since Lincoln's assassination) and it's still too soon, huh?", MacFarlane laughed, seemingly taken aback at the response.

Self-lampooning

MacFarlane's performance should not have come as too big a surprise. The comedian, actor and singer made his mark as creator of the animated TV series, "Family Guy," a show known for its ribald satire, much of it aimed at Hollywood conventions.

And MacFarlane, 39, wasted no time in sending up his own risqué persona, in a comedy bit with actor William Shatner, who joined the host on stage via a video screen in the character of Captain Kirk from the sci-fi TV and film series "Star Trek."

In his fictional drop-in visit from the future, Shatner warns MacFarlane he is "destroying the Academy Awards" with jokes that are "tasteless and inappropriate."

But the interlude segued into a song-and-dance number by MacFarlane showcasing his vocal chops to a tune called "We Saw Your Boobs," in which he rhapsodically ticked off the names of various A-list Hollywood actresses who have bared their breasts in films over the years.

Admonished by Shatner to sing songs that celebrate the movies rather than mock them, MacFarlane proceeded to deliver a more respectful rendering of the showbiz standard, "The Way You Look Tonight," joined on stage in elegant dance by actress Charlize Theron ("Snow White and the Huntsman") and actor Channing Tatum ("Magic Mike").

In the way that many cartoons, including MacFarlane's own "Family Guy" series, operate on different levels for kids and their parents, this year's Oscar telecast seemed especially designed to play to more than one TV audience.

Early reviews of MacFarlane's maiden performance were mixed. The Washington Post called it "a fairly middle-of-the-road job as host," while USA Today said it appeared to be an "audition for his own variety show."

The Los Angeles Times was more upbeat, saying he "alternated between making hamburgers out of Hollywood's sacred cows and showing fealty to good old-fashioned showbiz spectacle."

MacFarlane's more provocative turns were offset by some of the more traditional pomp typical of Hollywood's biggest night, including a 50th-anniversary montage salute to James Bond films, capped by veteran singer Shirley Bassey, now 76, reprising her title song from the 1964 film "Goldfinger."

In another highlight of the evening, songstress, actress and director Barbara Streisand, 70, took the stage to perform her signature hit "The Way We Were," from her 1973 film of the same name, in a tribute to the song's Oscar-winning composer, Marvin Hamlisch, who died last year.

In addition to hosting, MacFarlane was a best-song nominee himself this year for writing the lyrics to the song "Everybody Needs a Best Friend" from his R-rated comedy hit film "Ted," about a pot-smoking, foul-mouthed teddy bear.

The award went to "Skyfall," the title song from the latest Bond film, performed at the Oscars by British vocalist Adele.  — Reuters

source: gmanetwork.com

Friday

Prada mixes romantic and urban for 'raw elegance' in Milan


Italian fashion house Prada ventured in a new post-industrial world for her introvert woman at Milan fashion week on Thursday.

The trend-setting designer, whose collections are closely-watched by fashion critics, mixed romantic and urban looks for a refined style she called "raw elegance."

"What preoccupies me is impossibility. Women cannot be romantic, you have to be politically correct. There are so many restrictions," Miuccia Prada said in the backstage of her show.

The designer created skirts with irregular hems of different lengths and fabrics, while tops were worn open on the shoulders. Other models wore checkered, romantic dresses with ample skirts.

Assisted by design studio AMO, Prada turned its show space into an industrial landscape where the audience took seat on an irregular wooden island at the center. A romantic landscape was projected on the walls alongside shadows of industrial devices.

"We wanted to express what women think," Prada told reporters after the show.

The designer created handbags in tweed, giving a sporty touch to luxury items.

The Hong-Kong listed fashion house, which competes with LVMH's Louis Vuitton and PPR's Gucci, said on Tuesday preliminary revenues rose 29 percent to 3.3 billion euros (US$4.36 billion) for the 12 months ended in January.

The company declined to comment on Thursday on media reports that it may buy Milan's renowned coffee house Cova, located in Via Montenapoleone, in the heart of the fashion district. – Reuters

source: gmanetwork.com

Thursday

Twitter makes ad campaigns easier


SAN FRANCISCO — Twitter on Wednesday made it easier to run ad campaigns using tweeted messages in a move that promised to ramp up the company’s money-making potential and prospects for a stock market debut.

San Francisco-based Twitter announced that five partners are using new software that automates and streamlines advertisements displayed as “tweets” and promoted to high profile positions in user feeds.

“We’ve been testing the Twitter Ads API since January with our partners, and today we’re officially launching it,” revenue product manager April Underwood wrote in a blog post.

“Marketers now have more tools in their arsenal to help them deliver the right message, to the right audience, on the desktop and on mobile devices—all at scale.”

Twitter started the year with more than 200 million users and a prediction by industry-tracker eMarketer that the company’s annual revenue would top $545 million.

The first companies using Ads API (application programming interface) software include computer software veteran Adobe and cloud computing triumph Salesforce.com.

“As interest in Twitter has grown, our focus has been on delivering better ads for users, not more ads,” Underwood said.

“Our system rewards marketers for being good, not for being loud.”

In August of last year, Twitter began letting advertisers aim “promoted tweets” at users based on the interests they express in their messages.

Twitter ad products tap into a “real-time interest graph” to target the terse promoted messages in hundreds of categories ranging from gardening and hobbies to pets and investing.

Factors that go into determining interests include which Twitter accounts people follow, such as sports teams or chefs.

source: japantoday.com

4 Personal Finance Resolutions This New Year For A Secured Future


The year is coming to an end; it’s time to take stock of our accomplishments in the past one year, especially with our finances, and plan ahead and set goals for the next one year. Usually at this time, people make New Year’s health resolutions, out of which the most common would be to lose weight. Money and personal finance resolutions come up only next on the list.

We all know, mostly New Year’s resolutions are conveniently ignored from the second week of January. People seldom stick to the resolutions until completion! If you too belong to that category, just quit from here or at the most read this page and ignore. Else, set measurable, attainable goals if you think you have the perseverance to stick to the resolutions. Don’t look to jump over seven foot bars but look around for one foot bars that you can step over. Unless and until you set goals and attain them, you will end up as any other mediocre guy aimlessly wandering in life.

Looking at your finances, analyze where you were at the beginning of this year and where you are now. Are you better off now than at the beginning of the year? Has your net worth gone up or have you fallen into debt? If you find you are not better off, it is time to plug the loopholes. One thing is for sure; only if you have checks and balances in your finances, you will have peace of mind and good nights’ sleep.


So, what is the secret to a secured future, prosperity, and peace of mind? Income more than expenses, therefore, savings (capital) and prosperity. Capital thus formed helps in clearing the debt or to invest somewhere to multiply the money and get returns. So for a secured future and peace of mind, you need to have wealth more than debt or zero debt! Is it attainable? Of course yes, if you plan smartly and act accordingly from now onward. So here are the 4 personal finance resolutions this New Year for a secured future for you to act upon.

Increase Inflows

For you to become financially secure, you need to work smarter rather than harder. Rather than depending on a single income, try to diversify your cash flows with multiple income streams. Time is money, only you need to find the ways you can convert your time into money. Think about it. Either offer to work some extra time with your current employer or find a part-time job elsewhere. Sell anything that you think is of no use anymore. Rent out your garage or the unused part of your house. May be, you can use your hobby to make money. The possibilities are many. There are umpteen ways to create multiple income streams, only you need to identify a few.

The key takeaway message from the first resolution: Monetize your time and focus on multiplying your income.

Decrease Outflows

Analyze your spending habits. Find out where your drain holes are. Try to plug them. Begin tax planning right at the beginning of the year. Create and live by a monthly budget with a thrifty lifestyle. Disregard the urge to keep up with Joneses. Cut down every need without compromising the lifestyle, right from electricity to gas. If you are poor at tracking the numbers, take refuge with free budgeting apps like Mint. Don’t buy anything without thinking umpteen times. Don’t go on a shopping spree with your credit card. Use cash wherever possible instead of credit card. Using real money will make you think twice. Ultimately, it’s not how much money you make, but how much you save!
The key takeaway message from the second resolution: Save more. Be content with what you have, never with what you are.

Payoff Debt

Let the next New Year’s resolution be to reduce the debt, whether credit card debt or mortgage. Debt is easy to get into, but hard to get out of. Prolong your debt and you make the lender rich! Unless you make a sincere, planned effort to get out of debt, you are not going to end up debt free. It will suck your energy unknowingly. So, the year end is the best time to review your debts when you are in the mood of making a resolution. Prioritize your debts from high interest to low interest. Retire them in order. Ditch the high-cost debt first. Usually credit card debt is the leverage with highest interest rate and that should be the one that has to be paid off immediately. Use any windfall to clear debt rather than to invest. Avoid getting into further debt with tempting credit offers.

The key takeaway message from the third resolution: Don’t borrow from tomorrow to live today.

Build Wealth

While working on the aforementioned three goals, don’t forget to set aside some amount of your savings as an emergency fund, as unforeseen needs may arise anytime. You may invest your emergency fund in cash equivalent instruments like CDs but it should be available at your call if situation warrants for any emergencies like unemployment, medical emergency etc. If you are in your twenties and haven’t got an own house yet, it would be wise to buy a house somewhere at the outskirts of the city that you live now, if you can afford it with less than 2.5 years of your gross household income. However, it would be stupidity to buy a house if it would take your lifetime savings. Often there would be a standoff in your mind whether to payoff debt or to build wealth. Out of my experience, paying off debt saves more than what the same amount of money invested fetches. History has proved that equity fetches the best returns in the long term. So here too, time is your friend. Invest for a long termStart early to take advantage of the compounding effect. Whatsoever little money you spare to invest, stick to your own investment principles and screening methods, and at the age of retirement, you should end up rich and prosperous.

The key takeaway message from the fourth resolution: Invest your savings today for a better tomorrow. (Note that I said “savings” and not borrowed money.)

Too much of unrealistic New Year’s resolutions will kill your real enthusiasm to better your finances. The aforementioned points are very simple and not hardbound resolutions at all but common sense that you need to apply whenever you are handling your finances, your hard earned money. It is the way that you should lead an ideal life. Write down your financial goals as a checklist. Keep reviewing them at regular intervals and give yourself a pat on attaining them. Let me hope by the next New Year, you are either free of debt or you are on your way to debt free life! Wish You A Happy And Prosperous New Year.

article source: mtherald.com

Monday

UCPB says loans, trading gains drove 2012 net income up 22%

The United Coconut Planters Bank (UCPB) grew its net income by 22 percent last year, mainly through its loan portfolio and trading and securities earnings.

UCPB posted a net income of P3.73 billion for 2012, up by 22 percent from the P3.06 billion in 2011, the bank said in a statement Monday.

Total loans went up by 24 percent to P87.72 billion from P70.52 billion, with the consumer portfolio growing by 33 percent. Corporate accounts make up 45 percent of the loan portfolio.

Non-interest income jumped by 47 percent to P3.1 billion from P2.1 billion due to higher trading gains in securities and better fee based income. UCPB noted that ATM transactions increased by 20 percent.

Moving forward, the growth in fees will stay robust on the back new products launched like the UCPB Connect, an online facility that provides banking flexibility and convenience to clients, which also allows users to access their bank statement and pay bills through mobile devices.

As of end-2012, the bank posted total assets of P218.72 billion—up by 9 percent—due to sound financial fundamentals and knowledge of the current market conditions, while total capital increased by 15 percent to P20.27 billion. — VS, GMA News

source: gmanetwork.com

8 Tips to Help Achieve Your Career Goals


Professionals who are in careers today will change jobs much more frequently than in previous generations. Therefore, you need to be prepared and proactive in managing your career. But does this mean you have to sacrifice in other areas of your life that are important to you? Our lives are busy enough balancing work and family without having to find time for making major career changes as well. The tips below provide you some solid strategies to achieve your career goals.







1. Resume and LinkedIn Profile Maintenance

Write down your accomplishments from the past year. This will help you identify your market worth. Keeping track of these accomplishments will help you in review and bonus time. You probably already know this, but always keep your resume and LinkedIn profile up to date. This will keep you visible in the job market with recruiters or hiring managers.


2. Set up Lunchtime Conversations With Influencers

Connect with the shakers and movers within your organization to develop mutual relationships; if a special project or a higher position opens up, they will be more likely to think of you. Your internal company network is important to your career success. Create a list of people within the organization whom you know personally and professionally and ask to have lunch or a phone or Skype conversation for career advice, information sharing, or just to get to know them better. Remember, it is not what you know, but who you know, that will help you get ahead.


3. Remember to Network

Network face-to-face with one to three people each month outside the company to stay connected to your industry and to develop your networking skills. Identify 10 people whom you lost touch with and with whom you would like to reconnect. Reach out to them, perhaps indicating that one of your 2013 goals is to keep your network active. When you meet with the people in your network, bring something to the table and be sure you are offering value. Also, always be willing to ask them to connect you to others they know.


4. Attend Industry Events

Join your industry professional associations and attend monthly events. Meetup.com, Eventbrite and other online communities are great places to find industry groups that are relevant to you. Find out the dates and times, put them in your calendar and try not to schedule meetings too close to the event, so you will have enough travel time. Bring information to share with your colleagues.

5. Keep Your Image Professional

Update your look with accessories, clothes, hair and eyeglasses to reflect a polished professional image. Keeping an updated look is essential for initial impressions. One new piece of apparel can update your look, if you're not one to shop every single season. On the other end of the spectrum, be cognizant that dressing too trendy can be unappealing in a professional setting. Use the rule of thumb of looking in the mirror to see if you need to eliminate one accessory.


6. Schedule Quarterly Meetings

Set up quarterly meetings with your boss to stay on track with your professional development. Since you need to be the leader in managing your career, you need to take the initiative to set up routine times to conduct professional development meetings. In these meetings, ask your boss what his or her expectations are for your department and position over the next quarter, and if there are ways you could improve from the previous quarter — sometimes, it's necessary to take initiative to get the constructive criticism you need. If your boss is not in your office, recommend using Skype, which is a great way to build a more solid relationship.


7. Review Career Goals

You need to manage your own expectations for yourself, too. Mark your calendar six months out for a review of career goals and make adjustments if necessary. Staying on top of your career goals and periodically reviewing those helps you measure your progress, successes and evaluate the feasibility of accomplishing your remaining goals.


8. Read Industry Books

Read Dale Carnegie’s book How to Win Friends and Influence People or Keith Ferazzi's Never Eat Alone. Both books reinforce building relationships inside and outside your organization, which is the key to career success. They stand the test of time and capture human interaction and how to master it — the only thing that has changed is the vocabulary. Buy either of these relationship building books on tape, which can ease a public transit commute and help you to develop better skills.

source: mashable.com

Saturday

Bureau of Immigration to deport US pedophile

A convicted American pedophile wanted in the US for not reporting his whereabouts to federal authorities was arrested in Manila this month and is to be deported soon.

Bureau of Immigration Commissioner Ricardo David Jr. said the BI fugitive search unit arrested Earl Lynn Bagley, 60, last Feb. 4 at the Robinsons Mall in Ermita, Manila.


“We will thus deport him not only for being an undesirable alien but also because he is already overstaying and undocumented,” David said.



 Bagley will be deported as soon as the BI board of commissioners issues the order for his summary deportation, David added.

David said a US district court in Washington had issued an arrest warrant against Bagley, due to his failure to update his registration as a sex offender.

The BI also said the US State Department had revoked Bagley's passport, even as Bagley did not extend his tourist visa since he last arrived in the country on April 17, 2012.

Lawyer Ma. Antonette Mangrobang, BI acting intelligence chief, said Bagley’s offense stemmed from his failure to update his registration as a sex offender.

Mangrobang said the registration is a system in the US designed to let authorities keep track of the residence and activities of sex offenders.

"All 50 US states have reportedly passed laws requiring sex offenders, especially child sex offenders, to periodically report their residence upon leaving prison or after being convicted of their crime," the BI said.

It noted a Seattle court sentenced Bagley to 51 months custody, including three years of supervised release, in October 2004.

The charges against Bagley included possessing visual depictions of minors engaged in sexually explicit conduct.

"His supervised release reportedly began in September 2007 and ended in August 2010," the BI said. — LBG, GMA News

source: gmanetwork.com

Thursday

'Blade Runner' Pistorius charged with murdering girlfriend


South African "Blade Runner" Oscar Pistorius, a double amputee who became one of the biggest names in world athletics, was charged on Thursday with shooting dead his girlfriend at his home in Pretoria.

Police said they had opened a murder case after a 30-year-old woman was found dead at the track star's house after an incident in the upmarket Silverlakes gated complex on the outskirts of the capital.

"At this stage he is on his way to a district surgeon for medical examination," police brigadier Denise Beukes told reporters outside the heavily guarded residential complex.

Pistorius and his girlfriend, Reeva Steenkamp, had been the only people in the house at the time of the shooting, Beukes, said, and witnesses had been interviewed about the incident, which happened in the early hours of the morning.

"We are talking about neighbors and people that heard things earlier in the evening and when the shooting took place," she said. Earlier, police said a 9mm pistol had been found at the scene.

"When a person has been accused of a crime like murder they look at things like testing under the figure nails, taking a blood alcohol sample and all kinds of other test that are done. They are standard medical tests," Beukes said.

Pistorius is due to appear in a Pretoria court after 1200 GMT.

Before the murder charge was announced, Johannesburg's Talk Radio 702 said the 26-year-old may have mistaken Steenkamp for a burglar.

South Africa has some of the world's highest rates of violent crime, and many home owners have weapons to defend themselves against intruders, although Pistorius' complex is surrounded by a three meter high wall and electric fence.

In 2004, Springbok rugby player Rudi Visagie shot dead his 19-year-old daughter after he mistakenly thought she was a robber trying to steal his car in the middle of the night.

VALENTINE'S DAY

Steenkamp, a model and regular on the South African party circuit, was reported to have been dating Pistorius for a year, and there had been little to suggest their relationship was in trouble.

In the social pages of last weekend's Sunday Independent she described him as having "impeccable" taste.

"His gifts are always thoughtful," she was quoted as saying.

Some of her last Twitter postings indicated she was looking forward to celebrating Valentine's Day on Thursday with him.

"What do you have up your sleeve for your love tomorrow???" she posted.

However, Beukes said the police were aware of previous incidents at the house of a "domestic nature", and recent media interviews with Pistorius revealed he kept an assortment of weapons in his home.

"Cricket and baseball bats lay behind the door, a pistol by his bed and a machine gun by a window," Britain's Daily Mail wrote in a profile published last year.

He was arrested in 2009 for assault after slamming a door on a woman and spent a night in police custody. Family and friends said it was just an accident and the charges were later dropped.

Steenkamp's colleagues were distraught.

"We are all devastated. Her family is in shock," Steenkamp's agent, Sarita Tomlinson, told Reuters, in tears. "They did have a good relationship. Nobody actually knows what happened."

TRACK STAR

Pistorius, who races wearing carbon fiber prosthetic blades after he was born without a fibula in both legs, was the first double amputee to run in the Olympics and reached the 400 meter semi-finals in London 2012.

Respected worldwide for triumphing over his disabilities to compete on a level playing field with able-bodied athletes, his sponsorship deals are thought to be worth $2 million a year.

In last year's Paralympics he suffered his first loss over 200 meters in nine years. After the race he questioned the legitimacy of Brazilian winner Alan Oliveira's prosthetic blades, though he was quick to express his regret for the comments.

Pistorius is sponsored by British telecoms firm BT, sunglasses maker Oakley, sports apparel maker Nike and French designer Thierry Mugler.

"We are shocked by this terrible, tragic news. We await the outcome of the South African police investigation," a BT spokeswoman said before Pistorius was charged.

A Nike spokesman in London said before hearing of the murder charge that the company was "saddened by the news, but we have no further comment to make at this stage".

Pistorius also has a sponsorship deal with Icelandic prosthetics manufacturer Ossur.

"I can only say that our thoughts and prayers are with Oscar and the families involved in the tragedy," Ossur CEO Jon Sigurdsson told Reuters. "It is completely premature to discuss or speculate on our business relationship with him."

Neighbors expressed shock at the arrest of a "good guy".

"It is difficult to imagine an intruder entering this community, but we live in a country where intruders can get in wherever they want to," said one Silverlakes resident, who did not want to be named.

"Oscar is a good guy, an upstanding neighbor, and if he is innocent I feel for this guy deeply," he said. - Reuters

source: gmanetwork.com

Wednesday

Heart Attack Grill No. 1 fan dies of heart attack


The unofficial spokesman for the Heart Attack Grill in Las Vegas has died of a heart attack. He was the second unpaid mascot to die in the past two years.

John Alleman, 52, suffered an attack while waiting at a bus stop in front of the diner last week. He was taken off life support Monday, the Las Vegas Sun reported (http://bit.ly/12HUXqT).

The medically themed diner is famous for its huge hamburgers, extra-fat milkshakes and fries cooked in lard. It uses the tagline: "Taste worth dying for."

Owner Jon Basso told the Sun that Alleman came to the restaurant daily and encouraged passing tourists to try its calorie-laden offerings.

"He never missed a day, even on Christmas," Basso said. "People just loved him. He connected with people in a real way."

Alleman became an unofficial mascot for the restaurant, which features waitresses in nurse garb. His caricature as "patient John" graced its merchandise and menus.

In 2011, another unofficial spokesman, a 575-pound man named Blair River, died at age 29. At the time, friends said pneumonia may have been the cause of death.

In 2012, a man in his 40s was hospitalized after he began sweating and shaking while eating a 6,000-calorie Triple Bypass burger at the downtown Las Vegas restaurant.

The ominously named diner features tongue-in-cheek health warnings and casts customers as patients. Eaters are given surgical gowns as they choose from a calorically extravagant menu.

Basso said Alleman weighed about 180 pounds and his death showed heart attacks can happen to anyone.

source: lasvegassun.com

Democrats try to build case for additional taxes


CARSON CITY — The top two Democrats in the Legislature are talking about taxes.

Indeed, as the legislative session enters week two, Democrats have held committee hearings and news conferences to have the promised discussion on taxes.

But so far, it’s come down to just that: Talk.

In a 10-minute news conference on tax reform Tuesday, Speaker Marilyn Kirkpatrick and Senate Majority Leader Mo Denis uttered the world “discussion” a dozen times. But they revealed little on their positions for what shape that reform might take.

Instead, the pair said they want to have a come-one, come-all data-driven discussion about what kind of state Nevada could and should be and how much taxpayers should should help pay for that vision.

Denis said the three broad objectives are to “create jobs, make education better and fix our failing revenue system.

“What we're trying to do is make the case for why we need to do what we need to do,” Denis said.

In a committee hearing later that afternoon, Democrats began building that case, taking on Gov. Brian Sandoval’s decision to extend temporary tax increases another two years and his call for a payroll tax cut.

“What I took away from this is that 75 percent of businesses don’t have skin in the game,” Assemblywoman Irene Bustamante Adams, D-Las Vegas, said during a hearing on Nevada’s payroll tax and Sandoval’s proposal to exempt another 2,883 businesses from paying it.

Republican leaders have expressed a willingness to join in the tax discussions early, and have indicated support for broadening the state’s tax base.

The goal?

“Change,” Kirkpatrick said of broadening the state’s tax structure. “Hold me to that.”

“We need to look at broadening the revenue structure in a revenue-neutral manner,” said Senate Republican leader Michael Roberson, R-Henderson. “We have a generally flat budget this session, and we’ll learn to live with that.”

All four leaders in the Legislature are new to their positions this year and have expressed an unusual desire to work together and have policy-oriented meetings.

“In the past, I don’t know that it was so open,” Kirkpatrick said.

Democrats have sprinted forward with tax hearings during the first and second week of the Legislature, but they are absent a tax plan. The choice word this week is still “discussion.”

Kirkpatrick said these conversations extend to Sandoval, a Republican, as well.

“He said we can meet on a weekly basis,” she said.

But openness doesn't necessarily mean agreement.

Although Denis wants to examine a margins tax proposal that the state teachers union hopes to pass on the ballot in 2014, Roberson said that’s a nonstarter — a position akin to that of Kirkpatrick.

“You’re not going to get a single Republican vote to support the margins tax,” Roberson said.

Sandoval has consistently said that he will not support spending beyond what he has proposed in his $6.55 billion budget. But he’s also indicated a willingness to look at a tax reform plan if one is presented to him.

“I think we do need to make the case to Sandoval,” Kirkpatrick conceded.

Democrats want at least $60 million more for public education programs than the governor, offering more schools all-day kindergarten and smaller class sizes.

They would have to find money somewhere to pay for those goals.

Kirkpatrick said data will drive the debate.

Holding a sheet of data in her hand in her office Tuesday, she said Sandoval’s proposal to exempt more businesses from the payroll tax would mean only one in four businesses would pay the tax.

“It’s harder to refute because I’ve got the facts,” she said.

Kirkpatrick and Denis also said this week they would like to talk about cementing some temporary taxes into the state’s tax structure, which would give the state more stability.

“We're not giving anybody any stability for trying to put new programs in place,” she said. “In two years, those come up, and they're now on the chopping block.

“Folks want stability and right now they don’t have any stability.”

Kirkpatrick asked Sandoval’s budget director, Jeff Mohlenkamp, what the governor plans to do with $1.2 billion in temporary taxes and diversions — almost 20 percent of total general fund spending — when the state crafts another budget two years from now.

“We don't know if the extensions will need to be extended again,” Mohlenkamp told a legislative tax committee. “We'll have to wait and see.”

source: lasvegassun.com

5 Reasons You’re Paying Too Much For Home Insurance

Insurance is designed to offer you peace of mind in the event of a financial crisis; it shouldn’t put you in one. If you feel like you’re paying way too much for homeowners insurance, it’s possible you’ve made one of these common mistakes of home insurance buyers:


You didn’t compare rates

 

It’s the first step in any smart shopper’s process, whether you’re buying groceries, laptops or insurance. Don’t just purchase the first policy you find or become complacent with your current provider’s rates. Comparison shopping is the most effective way to get the most value out of your insurance and ensure that you’re not paying more than your neighbors for no other reason than you just didn’t do your research.


You’ve purchased two policies from two providers

 

Most providers offer special bundle prices that could help you save as much as 20% on your premium. Consider consolidating your auto and homeowners insurance policies by purchasing them from the same provider. In addition to big savings, it’ll help cut the time it takes to manage your policies in half.


Your deductible is too low

Depending on how much you think you could afford to pay out of pocket in an emergency, raising your deductible could be a smart savings strategy for you. The higher your deductible is, the lower your premium will be, and vice versa. If your monthly payments seem way too high, take a look at what amount your deductible is set and work with a licensed agent to find the optimal balance for your budget.


You haven’t uncovered discounts

 

Do you have a squeaky-clean claims history? Have you installed smoke detectors in your home? Do you keep fire extinguishers around? If you answered yes to any of these questions and aren’t collecting discounts on your home insurance, you’re paying way too much. Work with a licensed agent to discover all of the discounts for which you could be eligible, and narrow down the lower premium you deserve.


You have several claims under your belt

 

If you have a history of filing large claims, you’ll probably have a higher home insurance premium than your neighbors. That doesn’t mean you shouldn’t file claims when you need to – that’s what your policy is for. However, if you find that your home is extremely accident-prone, it’s probably a good idea to re-evaluate your safety practices. It may also be to your advantage to make some improvements around the house to help prevent claims, such as reinforcing window shutters or repairing an older roof. In addition to helping to prevent claims, some insurers may offer discounts for some home improvements such as these.


Whether you’re shopping for a new policy or looking to find better rates, keep these common insurance mistakes in the back of your mind. It’s easy to find a better value and greater peace of mind when you know what not to do when buying homeowners insurance.

source:  http://homeinsurance.com/blog/2013/01/18/5-reasons-you%E2%80%99re-paying-too-much-for-home-insurance/

How Liability Insurance Can Protect You in a Slip and Fall Accident

Mortgage lenders require homeowners to purchase a home insurance policy and for good reason – standard insurance plans come with a range of coverage options that protect you in a variety of scenarios. One example of circumstances that benefit from the ownership of home insurance is a slip and fall accident.


If a neighbor, stranger or friend slips and falls on your property and holds you responsible, you have two financial safety nets through your homeowners insurance: personal liability protection and medical payments coverage. Which type of insurance protection will qualify you to file a claim is all dependent on whether there’s a lawsuit.

Personal liability coverage

 

Personal liability insurance protection is the part of your policy that covers you if the injured party decides to sue. Liability coverage will protect you during most instances when you’ve sued. Typically, your policy will allot you a minimum of $100,000 per claim for legal defense, although this amount varies from policy to policy.


Certain exclusions apply – liability won’t provide you any financial aid for lawsuits pertaining to mental, physical or sexual abuse; the sale, manufacturing or distribution of a controlled substance or the transmission of a communicable disease. In other words, criminal activity won’t qualify for defense money, but normal mishaps, such as a dog bite or your average slip and fall accident, will probably leave you eligible to file a claim.


If you feel like you’re at particular risk for lawsuit, you can always look into taking out an extension on your liability coverage, which typically starts at $100,000. Homeowners with large dogs or swimming pools can and should purchase greater liability coverage limits.


Medical payments coverage

 

Medical payments coverage, frequently referred to as MedPay, is the alternative to personal liability coverage if someone has experienced a slip and fall accident on your property. MedPay is the portion of your insurance policy that will qualify you for a claim if no lawsuit is filed. For example, if the mailman trips on your front steps but doesn’t want to sue, MedPay can help with his medical expenses. Policies typically start with $1,000 per injured person. You can also choose to purchase higher limits, if you like.


When it comes to slip-and-fall accidents, look to your homeowners insurance policy. Regardless of whether the injured party decides to sue, you have options. Your insurance can provide you financial aid for the person’s medical expenses or your legal defense if a lawsuit is filed. Alternatively, if you’re the person who fell but you don’t want to bankrupt the responsible party, recommend that he or she take a look at his or her home insurance policy. With adequate coverage, you’ll get the funds you need and the other person will be able to afford all your costs. Call a licensed insurance agent today to learn more about home insurance coverage. Ask about the types of protection typically included in a standard policy. You’ll find that you’ll likely receive coverage for things such as fire and theft but also for legal defense if you get sued.

source:  http://homeinsurance.com/blog/2013/01/04/how-liability-insurance-can-protect-you-in-a-slip-and-fall-accident/

Tuesday

Teen births in US hit record lows in 2011 — study

The number of U.S. babies born to teen mothers dropped to record lows in 2011, according to data from the Centers for Disease Control and Prevention.

Fewer women gave birth in their 20s as well than in prior years, the researchers said in findings published in Pediatrics - but the birth rate increased for those in their late 30s and early 40s.

"The economy has declined, and that certainly is a factor that goes into people's decisions about having a child," said CDC statistician Brady Hamilton, lead author of the report.

"Women may say to themselves, 'It's not a particularly good time right now... let's wait a little bit.'"

Older women, however, are typically more secure in their employment, and understand that they don't have as long to wait if they want to get pregnant, he said.

The new data showed an eight percent drop in teen births between 2010 and 2011, with just over three percent of 15- to 19-year-olds having babies during that period.

Hamilton and his colleagues calculated that 3.6 million more babies would have been born to women in that age group over the last two decades had the teen birth rate not been falling since a peak in 1991.

On the other end of the spectrum, the birth rate among 35- to 39-year-olds increased by three percent over 2010 figures. In 2011, 4.7 percent of women in their late 30s and just over one percent in their early 40s had a baby.

Other results from the report showed a continued decline in babies born prematurely or small, and an unchanged rate of infant deaths.

Black and Hispanic mothers continued to be more likely to have a premature baby than white women, but rates declined among all races. Infant mortality was more than twice as high among babies born to black mothers as in babies of white mothers, death records showed.

Hamilton said the decline in teen births, in particular, is especially welcome news and reflects the efforts of programs and policies targeting that age group.

"It's definitely consistent with the trends that we've seen, and it's obviously good news overall," said Krishna Upadhya, who studies teen pregnancy at the Johns Hopkins School of Medicine.

"I think the main thing behind this is increased contraceptive use, and better contraceptive use," added Upadhya, who wasn't involved in the new research.

However, she added that there are still some parts of the country where both condoms and long-acting forms of contraception, such as intrauterine devices (IUDs) are harder for teens to access. - Reuters

source: gmanetwork.com

Saturday

EU leaders strike deal on long-term austerity


European Union leaders reached agreement on the first ever cut in their common budget yesterday after 24 hours of intense negotiations, seeking to placate millions at home struggling through government cutbacks and recession.
The expected deal met the demands of northern European countries such as Britain and the Netherlands that wanted belt-tightening, while maintaining spending on farm subsidies and infrastructure to satisfy the likes of France and Poland.
It is the first net reduction to the EU’s long-term budget in the bloc’s history, representing a decrease of around 3% on the last budget and shaving spending in areas such as infrastructure, bureaucracy and scientific research.
Last-minute haggling over precisely how to divide up the €960bn ($1.3tn) to be spent between 2014 and 2020 dragged out the process, before Herman Van Rompuy, the president of the European Council and chairman of the summit, announced that a definitive deal had been struck among the leaders.
“Deal done!” he said in a message posted on Twitter.
At a news conference shortly afterwards, battling to stay alert after nearly 36 hours awake, Van Rompuy said the agreement was a budget of moderation that reflected straightened times.
“We simply could not ignore the extremely difficult economic realities across Europe, so it had to be a leaner budget,” he said. “For the first time ever, there is a real cut compared to the last multi-annual financial framework.”
The deal must now be approved by the European Parliament, where leading legislators have already expressed opposition. Securing parliamentary approval is likely to take several months and is far from guaranteed.
After negotiating through the night, leaders broke for a brief rest, allowing German Chancellor Angela Merkel to swap her green jacket for a lilac one, and returned to address a list of questions, including how to satisfy smaller countries such as Romania and Bulgaria among the 28 states covered by the budget.
Mindful of their restive voters, Northern European countries were adamant that as they shrink spending at home and grapple with the aftermath of the global financial crisis, the European Union had to do the same by cutting headline spending.
Around €12bn was cut from the last budget proposal, made at a summit in November, bringing the total reduction from the European Commission’s original blueprint to €85bn.
European Commission President Jose Manuel Barroso said he was disappointed, but understood the logic.
While vast as a headline figure, in annual terms the budget amounts to just 1% of total EU economic output.
The cuts agreed fell mainly on spending for cross-border transport, energy and telecoms projects, which were reduced by more than 11bn euros. Pay and perks for EU officials — a top target for Britain — were lowered by around €1bn.
Spending on agriculture was spared further cuts, and there was an increase of about €1.5bn on rural development over the seven years, satisfying France, Italy and Spain.
Even with a deal, around 40% of the spending will still be dedicated to farming, something that frustrates many northern European states, which want a more dynamic budget.
At the same time, officials said money had been set aside for measures to stimulate economic growth, for research and for structural funds to flow to countries worst hit by the economic crisis, including Greece, Ireland, Portugal and Spain.
There were also stipulations for green investment and €6bn for a fund to combat youth unemployment via apprenticeships in hard-hit countries.
The deal still faces further hurdles, not least at the bloc’s parliament.
“The European Parliament will not accept this deficit budget if it is adopted in this way. That is certain,” the parliament’s president Martin Schulz said.
Van Rompuy urged the parliament to be responsible and to reflect carefully before deciding to reject the spending plan.
In recent weeks, Van Rompuy has been in touch with every EU leader to assess where the contours of an agreement may lie.
But reaching a deal was never going to be a simple since it also involves delicate negotiations over rebates — amounts countries get re-imbursed after they have made contributions.
Denmark won a refund of around €130mn a year, but other rebates were trimmed or modified.
The Czech Republic was among a small group of countries that fought for final extra distributions, mostly for funds to build infrastructure.
The EU calculates two budget numbers: a headline ‘commitments’ figure that sets a ceiling on how much can be paid out, and a lower ‘payments’ figure that indicates what will actually be spent.
The baseline payments figure in the framework agreed yesterday was €908bn, a figure low enough to convince Britain, which focuses on payments rather than commitments, that it was getting a satisfactory deal.

source: gulf-times.com

US economic data points to growth in Q4 GDP

The US economy likely expanded slightly in the fourth quarter, according to data yesterday that suggested a surprise drop in GDP reported by the government last week was overstated.
The US trade deficit narrowed to its lowest point in nearly three years in December on a drop in oil imports and a surge in exports.
The country’s trade gap narrowed to $38.5bn during the month, Commerce Department data showed yesterday. That was a much smaller deficit than analysts polled by Reuters had expected.
“Trade data for December paint a reassuring and encouraging picture of the US economy at the end of last year,” said Chris Williamson, chief economist at Markit.
A separate report from the Commerce Department showed wholesale inventories unexpectedly declined in December, which offsets some of the gains to GDP from trade.
Taken together, the two reports suggest the US government could revise upward its advance reading for fourth-quarter gross domestic product, which showed the economy contracted at a 0.1% annual rate.
The decline in GDP was driven by an expected drop in exports, smaller gains in inventories and a plunge in government spending on the military.
Barclays said even with December’s decline in wholesale inventories, GDP likely expanded 0.3% in the fourth quarter thanks to the higher export numbers in yesterday’s trade report.
US exports increased $8.6bn in December, boosted by sales of industrial supplies, including a $1.2bn rise of non-monetary gold.
In a reflection of America’s current boom in the output of oil and natural gas, petroleum exports rose by nearly $1bn during the month to a record high level.
A fall in petroleum imports led overall purchases from abroad to decline $4.6bn in December.
For the entire year, the country’s imports of crude oil fell to their lowest levels since 1997 in terms of volume.
Prices for US stocks rose as investors were impressed by a batch of strong trade data, which included the US figures as well as readings showing stronger exports and imports in China during January. Prices for US government debt fell.
For all of 2012, the US trade gap fell by 3.5% to $540.4bn. Running trade deficits means the country bleeds dollars, so trade is still a drag on the US economy.
But rising exports are helping it to be less of a drag than in prior years.
Exports last year rose 4.4%.
While the overall trade deficit shrank, it grew with China during the year. That raised hackles from American manufacturers who want the US to pressure the Asian giant more to strengthen its currency.
“Congress and the administration must take on currency manipulation,” said Scott Paul, president of the Alliance for American Manufacturing.
But even the figures on China had a silver lining. While US imports last year from China increased to a record high, so did America’s exports to the country.
America’s December trade deficit with China for goods, which was not seasonally adjusted, narrowed by $4.5bn on a drop in imports.
Also in December, US wholesale inventories unexpectedly fell as auto dealers and agricultural suppliers drew down their stocks.
The Commerce Department said stocks of unsold goods at US wholesalers dropped 0.1% during the month and grew less than initially estimated in November.
Economists polled by Reuters had expected wholesale inventories to rise 0.4%.

source: gulf-times.com

Wednesday

Kaspersky AV inadvertently cuts off WinXP users' Internet access


Many users of computers running Microsoft's Windows XP and Kaspersky's antivirus software found themselves cut off from the Internet this week, a tech site reported.

A report on The Next Web cited Twitter posts and forum posts by unhappy users whose Internet access was blocked by Kaspersky's update (version 8.1.0.831).




"Kaspersky Lab has fixed the issue that was causing the Web Anti-Virus component in some products to block Internet access. The error was caused by a database update that was released on Monday, February 4th, at 11:52 a.m., EST," The Next Web quoted Kaspersky as saying in a statement.

It also said the problem was limited to x86 systems with the following Kaspersky Lab products installed:


    Kaspersky Anti-Virus for Windows Workstations 6.04 MP4
    Kaspersky Endpoint Security 8 for Windows
    Kaspersky Endpoint Security 10 for Windows
    Kaspersky Internet Security 2012 and 2013
    Kaspersky Pure 2.0


"Kaspersky Lab would like to apologize for any inconvenience caused by this database update error. Actions have been taken to prevent such incidents from occurring in the future," Kaspersky said in its statement to The Next Web.

Before the fix was issued, The Next Web noted users complained they could not access internal (company networks) or external (on the Internet) websites, even as many noted Windows 7 did not appear to be affected.

Some users tried rolling back the update while others disabled Kaspersky's Web protection for the moment.

Others manually unblocked the ports 80, 443, and any ports they may have been using for a proxy.

But as of Tuesday morning (in the US), Kaspersky has since issued an update to address the problem.

"The bad news is that in many cases it will require user intervention: the update should install automatically but some users will have to disable the Web protection component first," The Next Web said.

The Next Web noted this was not the first occasional problem caused by faulty updates.

It said the last major one was in May 2012, when Avira crippled PCs by blocking critical Windows processes and third-party software. That was eventually fixed with an update. — TJD, GMA News

source: gmanetwork.com

Court to probe singer Chris Brown's community service records

LOS ANGELES - Prosecutors on Tuesday asked a court to find R&B singer Chris Brown in violation of his probation because they say community service records stemming from his 2009 assault on girlfriend Rihanna contain "significant discrepancies."

Brown is scheduled to appear at a hearing on Wednesday in Los Angeles, at which time a judge could decide to revoke the "Don't Wake Me Up" singer's probation.

But Brown's attorney, Mark Geragos, told Reuters the allegations are "scurrilous, libelous and defamatory."

"The prosecution has lost their collective minds," Geragos said. "I'm going to seek sanctions against the (district attorney's) office for bringing a frivolous motion."

Brown pleaded guilty in 2009 to beating and punching R&B singer Rihanna and was sentenced to five years probation, 180 days of community service and domestic violence counseling.

The community service involved tasks like cutting grass, picking up trash and removing graffiti. He was allowed to complete it in his home state of Virginia.

"After a thorough review of all documents and evidence submitted to the court it appears there are significant discrepancies indicating at best sloppy documentation and, at worst fraudulent reporting," Los Angeles Deputy District Attorney Mary Murray said in a court filing on Tuesday.

Murray cited three occasions when she said Brown was not at the recorded location of his community service and instead performing or traveling, once on a private jet bound for Cancun, Mexico.

Brown, in another instance, never stripped or waxed the floors at a Virginia community center as a report said he did, according to the 19-page court document.

Murray also accused Virginia authorities of poor and incorrect management of the singer's service and records, and said his community service case should be transferred to Los Angeles.

Los Angeles Superior Court Judge Patricia Schnegg in November praised Brown for "actually working diligently to complete all the things the court has required of you."

R&B singer Rihanna and Brown have recently rekindled their romance and are dating again, Rihanna told Rolling Stone magazine last week.

Brown was in a brawl last month with fellow singer Frank Ocean outside a West Hollywood recording studio. A police report indicates he punched Ocean in the face but Ocean said over the weekend he did not want Brown prosecuted. — Reuters

source: gmanetwork.com


Low interest rates to fuel residential property sales — Colliers

Low interest rates will continue to fan demand for residential spaces by as much as 11 percent for this year, according to property consultancy firm Colliers International.

Mid-priced and low-end residences will be on the upswing as "demand for that is solid because of housing backlog," Julius Guevera, associate director of Colliers, told reporters on Wednesday.

"There are Filipinos who are able to buy condominiums and houses for the first time because interest rates are low and developers are making it easier for them by stretching payment schemes," he added.

For high-end residences, demand will still come from expatriates who look for quality high-end condominiums near or within business centers.

“The demand for the premium segment remained high in the fourth quarter, pushing vacancy levels below 5 percent in the past three quarters,” Colliers' recent market overview read.

Growth in office space will remain robust on the entry of business process outsourcing (BPO) firms. "Locators for firms have an immediate need for spaces," Guevara said.

The hotels and leisure sub-sector, meanwhile, will be hinged on the growth in the gaming industry, especially with the rise of Entertainment City Manila in Pasay City.

“Over 15,000 new rooms will be introduced in a span of four years. Roughly half of this will be located in the upcoming Entertainment City,” the report read.

Industrial sector

Demand for warehousing is seen to fuel growth the industrial estate sector amid the need to bring goods closer to people,

"We are more optimistic on warehousing and logistics because of the need for spaces for transport of goods," said Guevara.

With the increase in local and foreign distributorship on the back of consumption driven economy, Guevera noted, "warehousing has become more mature."

He also said firms are looking for huge spaces with access to transportation and good pricing for their transport, but "vertical warehousing is also viable."

According to Colliers' report, lease rates for warehouses and logistics facilities improved by 2.0 percent.

The most viable areas for warehousing are situated at the southern tip of Metro Manila in Parañaque City and fringe areas on the South Luzon Expressway, said Guevara.

"They [distributors] are moving outward [of Metro Manila] because residential developments ended eating up the former industrial land," he said.

Most industrial lands have been converted to mixed-use developments or emerging business districts due to need for more office and residential spaces.

Without the expected uptick in warehousing demand, Guevara said, the industrial sector growth will be flat. — BM, GMA News

source: gmanetwork.com

Tuesday

Alabama hostage standoff ends with child safe, gunman dead

A gunman holding a 5-year-old boy hostage in an underground bunker in rural Alabama was killed on Monday and the child was plucked to safety without injury, a local law enforcement official said.

"It's all over," said the official, who asked not to be identified by name because he had not been authorized to discuss the operation that led to the successful rescue of the child.

"The boy is OK," he said.

The rescue of boy came on the seventh day of a standoff in a rural corner of southeast Alabama involving a suspect identified as 65-year-old Jimmy Lee Dykes, a retired trucker and Vietnam veteran.

Dykes seized the boy last Tuesday after boarding a school bus near his home and killing its driver with four shots from a 9 mm handgun, local sheriff's department officials said.

The law enforcement source said a stun or flash grenade was detonated as part of the operation to free the boy, but further details were not immediately available.

The drama in Midland City, Alabama, came amid heightened concerns about gun violence and school safety across the United States after the December shooting deaths of 20 children and six adults at a Connecticut elementary school. — Reuters

source: gmanetwork.com

Friday

Teaching kids the history and humanity of science

Think about this the next time you look at a periodic table: Did you know that its discoverer, Dmitri Mendeleev, once made an 11,500-foot-high solo flight in a balloon? Or that he resigned his post at the University of St. Petersburg in support of protests against czarist oppression in Russia?

A chemist himself by training, Dr. Michael Purugganan says that it's more important to teach children to understand the history and humanity behind the periodic table rather than just having kids memorize it.
"[Memorizing is] not what science is. Science is solving problems about the universe," he told GMA News Online in a roundtable interview.

He recalls that, when he was a young boy, he would sneak into the premises of the old National Science Development Board in Malate and spend hours looking at all the scientific equipment there.

"It just fascinated me. That was what really inspired me to become a scientist," he recalls. Today, he is the Dean for Science at New York University and a world leader in evolutionary and ecological genomics.

But it all started with that early spark of curiosity, which fueled a lifetime of scientific exploration —a far cry from the rote method of instruction so common in the science classroom.

Philippine science education as a whole

"People are very worried about science education," he said. "They think it's not doing very well, so this is not only a problem in the Philippines. How you teach science to children around the world is something people are thinking about. For Philippines especially, I suspect it is a problem that is across the board, not just in science but everything."

Purugganan —who graduated from BS Chemistry at the University of the Philippines Diliman— said that science high schools in the Philippines provide top-notch education, but he wished that these schools' competence in the sciences can be spread to regular, non-specialized schools as well.

"I think we have to enrich the curriculum and we have to focus on how we teach. I think the way we approach science should be changed," he suggested.


Approaches to education

"I think there's enough people out there who can look at what's been working and what's not been working. The Bernidos' school in Bohol is doing excellent science education. They won the Magsaysay Award, and they're doing excellent education in a rural part of Bohol and yet their students rank in the top 10 nationwide in the mathematics exam (of the National Career Assessment Examination). They're doing something right," he enthused.

Physicists Christopher and Maria Victoria Bernido left their jobs at the National Institute in the University of the Philippines in 1999 to revive a high school in the remote municipality of Jagna, Bohol that was in danger of closing down.


The Bernidos introduced a unique way for learning both science and non-science subjects, called the Dynamic Learning Program, in which more than half of the class time is made up of student-driven activities rather than simple lectures from the teachers. The couple was awarded the prestigious Ramon Magsaysay Award in 2010.

Purugganan thinks it's good that the Philippines is soon implementing K-12 education, but only if enrichment of the curriculum is part of this change. For the most part, Purugganan is neutral towards the impact of K-12 to the quality of education.

"I went through a K-10 education. A lot of other scientists I know went through K-10 education. It did not hurt us because we had a really good curriculum. We know that it's worked in the past, so increasing the time is not necessarily the answer," he said.


"I'm not sure K-12 is the answer. Hopefully it might be, if it forces policymakers to look carefully about what they're teaching throughout that K-12," he added.

Surprise discoveries and curiosity-driven research

Purugganan says that people and the government should acknowledge that breakthroughs in science generally come unplanned.

"The one thing I learned from being in science for a long time is that we have no idea where breakthroughs are going to come from, where things are going to happen," he said.

"One of the examples I give is one of the biggest technologies in the world for genetics right now, PCR (Polymerase Chain Reaction) technology: somebody just decided to study this bacteria that was growing in a hot spring in Yellowstone. He was interested in what's growing in the hot spring, he wasn't thinking of developing a new technology, but that's where this technology came from," he shared.

Purugganan prizes "curiosity-driven research." Scientists, according to him, must be allowed a certain degree of freedom to pursue interests in research. Purugganan currently runs research laboratories in New York and Abu Dhabi and has published over 100 research papers. This experience helped him lead several large-scale multimillion dollar international research projects funded by the US National Science Foundation.

"We call it curiosity-driven research. This is why we let our scientists follow their curiosity and why many countries allow scientists to do that is because there is this understanding that we actually can't plan where these discoveries will come from. And so we should give scientists some freedom to pursue where their curiosity takes them," he said.

Purugganan distinguishes between research that needs to have an end product and those that are more exploratory in nature. And even when an end product such as a particular medicine is expected, it may take as long as twenty years to be developed for mass consumption.

He clarifies: "What I've noticed is that there is almost a requirement that at the end of your research there will be a clear product (as if) we're gonna change the world in five years. You see this all the time, they will ask that in five years there's a drug that comes out of this research. (But) in the United States, it takes about twenty years to go from laboratory to drug. I think it's asking too much. That orientation should be revisited."


Budgeting resources, identifying top scientists


Purugganan does acknowledge that resources for research are limited. However, such research does not necessarily have to have a concrete product in the end.

"We have limited resources so we've got to be very careful about where it goes. [The project] should be something that either the people or the government sees has meaning, that there's something we get out of it. But it doesn't have to be product-oriented, I think it's wrong to think that 'at the end of this research I would have Product X.' It doesn't have to have a product in the end but it has to be relevant, and the relevance means that it's something that would be useful to us," he said.

But how should the government set its priorities when it comes to funding scientific research?

Purugganan thinks the government should determine the top Filipino scientists in their respective fields, and ask them what needs to be done and why it should be done. This way, the government is able to better utilize its homegrown scientific expertise.

"I think the better way to fund is [to ascertain] who are the good scientists in the country and ask them 'What would you do?' and explain what it is you need to do and why it's important," he said. "Let the scientists come up with the ideas rather than the government imposing on them where they should be doing research. I think that we're wasting resources because I'm not sure it's the best use of the expertise of our scientists. And at the end of the day I'm not sure that the goal of the government is to solve this problem so we also have to rethink how we do that."

Firing up kids' curiosity and passion

In his interview with GMA News Online editor-in-chief Howie Severino on News To Go, Purugganan encouraged aspiring scientists to set their eyes on their goal.

"I went to public school here in Manila, I went to UP Diliman, and when you're growing up you [think], 'I want to be a scientist' and what do you do, you have to get advanced degrees but now there's a lot of opportunities. We have PhD programs already in Ateneo and UP system and LaSalle, there's a lot of excitement and a lot of our students are going abroad and getting advanced degrees," he gamely shared.





Filipinos who earn their degrees abroad do come back, said Purugganan. Or at the least, they give back by getting involved in Philippine-based projects, or by consulting and teaching.

Severino noted that this could be a way of reversing the brain drain, still an ongoing phenomenon in the country.

"Absolutely. I think we should do that. It's very important for our country to do that," Purugganan agreed.


Forwarding the quest for the Filipino Genome

As if to sum up his entire philosophy on scientific discovery and progress, Dr. Purugganan underscored the value of pursuing the so-called Filipino Genome.


A leader in the field of evolutionary and ecological genomics, he sits on the advisory board of the DOST's newly-built Philippine Genomics Center.

"Genomics [...] focuses more on finding the application of a mapped gene sequence through manipulation.  The goal is to produce a better animal breed, a pest-resistant crop, or an anti-infective drug for diseases such as tuberculosis or the influenza A H1N1 virus," a statement on the DOST website said.

Purugganan is visibly excited about the Genomics Center and the prospect of a Filipino Genome Diversity Project, and its far-reaching impact on our shared past and potential future.


One might imagine Mendeleev looking down from his balloon, nodding in approval. 
— TJD, GMA News

Two Fil-Am Broadway actors to stage benefit concert in New York Feb. 23


Broadway actors Adam Jacobs and Ali Ewoldt, both of Filipino descent, will perform in a benefit
concert, “A Heart Full of Love,” at the Town Hall on 123 West 43 St. in New York City on
Saturday, February 23, 8:00 p.m.

Jacobs, whose Pinoy mother comes from Pangasinan and whose father is Russian-Dutch-
Polish, expressed his excitement for this upcoming concert, which reunites him with Ewoldt.

He and Ewoldt had only done one performance together, singing “One Hand, One Heart” from
“West Side Story” in the November 2011 tribute show for musical theater legend Stephen
Sondheim at Lincoln Center, which featured an all-Pinoy cast that included Tony Award-winning
actress Lea Salonga.




In “A Heart Full of Love,” Jacobs said, “Not only will we have the chance to perform excerpts
from ‘Les Miserables’ for the first time since our Broadway debuts, but we will also have the
opportunity to do other popular tunes from shows we haven’t done yet.”

Jacobs said the audience will see a different side of him in the concert, as he has always sung
in character in past performances, among them:
• His Broadway debut as the revolutionary student Marius in the 2006-2008 run of “Les
Miserables”;
• As the groom-to-be Sky in the national tour of “Mamma Mia”;
• As Aladdin in Disney’s screen-to-stage adaptation of “Aladdin” at Seattle’s 5th Avenue
Theater in 2011; and
• As Simba in the Broadway production of Disney’s “The Lion King” at Minskoff Theatre.

Ewoldt, whose mother is Pinoy, played Cosette in the same “Les Miserables” production as
Jacobs. Before “Les Miz,” she sang as Princess Jasmine in “Aladdin” at Disney’s California
Adventure. She also played Maria in the 50th anniversary international tour and the Broadway 1st
National Tour of “West Side Story,” and Tuptim in Baayork Lee’s production of “The King and I.”

Jacobs and Ewoldt’s repertoire will include musical theater favorites from “Les Miserables,”
“West Side Story,” and “The Lion King,” in additional to contemporary pop songs, kundiman or
traditional Filipino love songs, and some selections from compositions by new musical theater
writers and composers.

Proceeds from “A Heart Full of Love” will support this year’s Outstanding Filipino Americans in
New York Awards and the efforts of Mindoro Healthcare Consulting to find a cure for multiple
sclerosis.

The show is directed by Adam Fitzgerald, with musical director David Dabbon. Tickets are at
$40, $60, $80, and $100, and may be bought at Ticketmaster.com or by calling 212-417-0419. - VVP, GMA News

source: gmanetwork.com

Apple, Amazon Trail Samsung, Asus In Tablet Growth


Tablet shipments jumped 75% year over year in the fourth quarter to a record 52.5 million units worldwide. But Apple (AAPL) and Amazon.com (AMZN) posted much slower growth than rivals Samsung and Asus.

Market research firm IDC reported Thursday that tablet shipments rose faster than its Q4 target of 56% growth.

Apple remained the top tablet vendor thanks to its iPad Mini and fourth-generation full-size iPad, but its market share slipped for the second quarter in a row. Apple's Q4 share came in at 43.6% vs. 46.4% in Q3 and 51.7% in Q4 2011.



No. 2 Samsung Electronics experienced 263% year-on-year growth, shipping nearly 8 million Google (GOOG) Android and Microsoft (MSFT) Windows 8 tablets during the quarter to grab 15.1% of the market, unchanged from Q3 but up from 7.3% a year earlier.

No. 3 Amazon lost ground, shipping 6 million Kindle Fire tablets in Q4 for 11.5% market share, compared with 15.9% a year earlier. Its year-over-year tablet shipment growth rate was 26.8%, well below the industry average.

The No. 4 vendor, Taiwan's Asus, grabbed 5.8% market share, up from 2% a year ago, shipping 3.1 million units. Asus was helped by continued strong shipments of its Google-branded Nexus 7 tablet. Its shipments rose 402% year over year.

Bookseller Barnes & Noble (BKS) was the only top five tablet vendor to post a year-over-year decline in shipments. It shipped nearly 1 million Nook tablets, down 28%.

Microsoft failed to reach the top five after shipping just shy of 900,000 units of its Windows Surface tablets, IDC says.

"New product launches from the category's top vendors, as well as new entrant Microsoft, led to a surge in consumer interest and very robust shipments totals during the holiday season," IDC analyst Tom Mainelli said in a statement. "The record-breaking quarter stands in stark contrast to the PC market, which saw shipments decline during the quarter for the first time in more than five years."

source: http://news.investors.com/technology/013113-642683-apple-lags-industry-in-tablet-growth-rate-q4-tablet-shipmentstablet-marketamazon-kindle-firemicrosoft-surfacesamsung-tablets.htm

Whole Foods, Target, Wal-Mart Stores Stores Push Into Cities


After taking the suburbs by storm all bulked up with megastores, many of the nation's top retailers have tweaked their real-estate strategies as they move to flex their muscles with the city crowd. "Small" is one of their tactics.

Giant chains, such as Whole Foods Market (WFM), Wal-Mart Stores (WMT) and Target (TGT) are making a push into the more densely populated urban markets as they look to enhance their revenue and tap into a new customer base in underserved communities amid both changing lifestyles and a changing retail real-estate landscape.



It has meant reworking their store models and merchandising with smaller formats and trimmed-down assortments, to better accommodate the needs of city dwellers.



The effort comes at a time when the older baby boomers and the Generation Y crowd are moving into more urbanized areas because they want more convenience with easy access to transit, shopping and restaurants, says Maureen McAvey, senior resident fellow for retail at the Urban Land Institute.

"There's so much more apartment and condo living in these densifying areas that from the retailer's standpoint, they can significantly increase their trade areas by moving to where the people are," she said.

By staking a claim in more tightly populated locales, retailers have the potential to draw bigger volumes.

"Typically, because urban locations tend to be surrounded by a much more densely populated consumer base, and thus, drive more customer visits than a suburban location, the corresponding sales per location also tend to skew much higher," said Lew Kornberg, retail tenant rep lead at commercial real-estate firm Jones Lang LaSalle (JLL). "It wouldn't be at all unusual for an urban location to average two to three times the sales volume of a traditional, suburban location."

There's a "day and night difference" between pricing on suburban retail space and high-end city centers, says Kris Cooper, managing director for capital markets at Jones Lang, as institutional investors are risk-averse and there's "tremendous demand for city centers and little product available."

Retailers see opportunity to fill a void in downtown urban areas. Take Whole Foods, which is opening its first small-format store location in Detroit's Midtown district in June. Whole Foods management began in 2009 to scope out communities that didn't have access to many grocers that specialize in fresh, healthy food.

New Food Frontiers

Whole Foods pegged Detroit, a city fallen on hard times, as a place where it could help, says Walter Robb, the grocer's co-CEO.

source: http://news.investors.com/business-inside-real-estate/013113-642711-whole-foods-market-wal-mart-stores-target-get-city-lift.htm