David Petraeus, Seen as an Invincible C.I.A. Director, Self-Destructs

Alex Wong/Getty Images

David H. Petraeus, with his wife, Holly, in 2011 during his confirmation hearing in the Senate before becoming director of the Central Intelligence Agency.

WASHINGTON — David H. Petraeus’s “Rules for Living” appeared on The Daily Beast Web site on Monday, posted by his biographer, a fellow West Point graduate 20 years his junior named Paula Broadwell. The fifth rule, beneath his familiar portrait in full military regalia, began: “We all make mistakes. The key is to recognize them and admit them.”

Mr. Petraeus took his own advice on Friday and resigned as director of the Central Intelligence Agency after admitting to an extramarital affair; officials identified the woman in question as Ms. Broadwell. The full back story is not yet clear, though his affair came to light after F.B.I. agents conducting a criminal investigation into possible security breaches examined his computer e-mails. The decision to step down was his.

Few imagined that such a dazzling career would have so tawdry and so sudden a collapse. Mr. Petraeus, a slender fitness fanatic, is known as a brainy ascetic. He and his wife, Holly, whose father was the superintendent at West Point when Mr. Petraeus graduated in 1974, and their two grown children had long been viewed by military families as an inspiration, a model for making a marriage work despite the separation and hardship of long deployments overseas.

After he began the C.I.A. job in September 2011, the couple settled into a house in the Virginia suburbs and began the closest thing to a normal life together that they had had in years, even if the basement he had designated for a home gym was commandeered for secure C.I.A. communications gear.

After years in war zones, Mr. Petraeus told friends, he was amazed to eat dinner most nights with his wife and to discover weekends again. He told friends that on the day his daughter was married last month, he went for a 34-mile bike ride.

“It’s a personal tragedy, of course, but it’s also a tragedy for the country,” said Bruce Riedel, a C.I.A. veteran and a presidential adviser.

Like many others in jaundiced Washington, Mr. Riedel wondered whether the affair really required Mr. Petraeus, who turned 60 on Wednesday, to step down and leave the agency leaderless. But under the military law that governed his 37-year Army career, adultery is a crime when it may “bring discredit upon the armed forces.” And a secret affair can make an intelligence officer vulnerable to blackmail.

The C.I.A. director, Mr. Riedel said, probably felt he had no choice.

“I think Dave Petraeus grew up with a code that’s very demanding about duty and honor,” he said. “He violated the code.”

Ambition and Ability

He was the pre-eminent military officer of his generation, a soldier-scholar blazing with ambition and intellect, completing his meteoric rise as a commander in the Iraq and Afghanistan wars. Worshipful Congressional committees lauded him as a miracle worker for helping turn the war in Iraq around, applying a counterinsurgency strategy he had helped devise and that was widely viewed for a time as the future of warfare. Then, dispatched to Afghanistan to replace Gen. Stanley McChrystal, who had been fired by President Obama, he quietly shifted away from the doctrine he had championed and adopted an aggressive counterterrorism strategy.

He was fiercely competitive and carefully protective of his reputation. Asked to throw out the first pitch at the 2008 World Series, he brought his security detail to Washington’s stadium to practice getting the ball over the plate.

Mr. Petraeus had seemed all but indestructible. He had been shot in a training accident, broken his pelvis in a sky diving mishap and survived prostate cancer. Criticized by the antiwar group MoveOn.org in 2007 as “General Betray Us,” he shrugged off the attack and rallied his indignant supporters. Until Friday, fans speculated that post-C.I.A. he might become president of Princeton University, where he had earned his Ph.D. in international relations in 1987, or conceivably even president of the United States. (He has told friends he will never run for president; to show his impartiality, while in the military, he did not vote.)

Reporting was contributed by Thom Shanker, Michael R. Gordon and David E. Sanger from Washington, and Viv Bernstein from Charlotte, N.C.

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Out of hospital, Beljan keeps lead at Disney

LAKE BUENA VISTA, Fla. (AP) — Charlie Beljan was in a hospital bed in the middle of the night, still wearing his golf shoes, thinking his season was over.

He was about six hours from his tee time Saturday at Disney. Just 12 hours earlier, he was having a panic attack on the golf course so severe that he could barely breathe, his blood pressure spiked and his arms felt numb. After signing his card, he was strapped into a stretcher, loaded into an ambulance and taken to a hospital.

"I thought I literally had a chance to die," Beljan said.

In a turnaround that even by Disney's standards seems like a fairy tale, the 28-year-old rookie now has a chance to win his first PGA Tour title.

Beljan was released from the hospital, overcame two early bogeys and was solid over the final hour in the Children's Miracle Network Hospitals Classic for a 1-under 71 that gave him a two-shot lead going into the final round.

"I honestly didn't know if I was going to play one hole, any holes or was I going to get through the day," Beljan said. "I felt good, better as the day went on, and I just hung tough, hung in there. I knew what the rewards were at the end of the week if I could pull something off, and that's kind of what kept me going."

The rewards were ample.

This is the final PGA Tour event of the year, and Beljan is No. 139 on the money list. Only the top 125 get full cards for next year. Doctors told him he was in good enough health to be released, but perhaps not to play golf. He ignored their recommendations.

"The position I'm in, it's kind of hard not to show up," he said before teeing off.

Beljan had a pair of three-putt bogeys that cost him his three-shot lead after three holes, and felt some tightening in his chest as he approached the turn, the same symptoms that caused much fear Friday. But he steadied himself, began the back nine with back-to-back birdies, and kept in front.

He was at 13-under 203, two shots ahead of Brian Gay (67), Josh Teater (67) and Charlie Wi, who was tied for the lead until closing with two bogeys for a 70.

"It's nice to be able to walk around and smile," Beljan said. "Yesterday, I was hanging on for my life."

When last seen at Disney, Beljan was gasping to draw a big breath and sitting in the fairway to wait his turn to hit. Paramedics followed him around the back nine after taking his blood pressure on the 10th tee. After signing for a 64, Beljan emerged from the scoring room strapped into a stretcher and was loaded into an ambulance.

For most of the night, he felt 99 percent sure he wouldn't be playing. But with the comfort of knowing that he was physically fine, he went back to his hotel for a shower, breakfast and headed to the golf course. Despite being nervous that another episode could strike again, he was steady for so much of the day.

Now comes the hard work.

Beljan's wife, 7-week-old son and mother-in-law were flying in from Phoenix for the final round. He has long dreamed of how cool it would be to have his family come onto the green to celebrate his first PGA Tour win.

But there's a long way to go.

Beljan's three-shot lead was gone before he stepped onto the fourth tee in the third round. He will start Sunday with 11 players separated by three shots. That includes Sea Island winner Tommy Gainey and Camilo Villegas, winless in four years, along with Robert Garrigus, who won at Disney two years ago. The group at 205 included Vaughn Taylor, who like Beljan is making a last-ditch effort to keep his card.

Beljan was simply thrilled to be playing.

"I think the big advantage for me is I'm not thinking about the golf or the putts or the chips or the shots or the swings," said Beljan, who didn't even realize he was in the lead until about 10:30 p.m. Friday at the hospital. "I'm just thinking about my health, one shot at a time, one hole at a time. And shoot, the last 36 holes it's worked out pretty well."

Beljan showed off his power on the opening hole when he was behind a tree 183 yards from the hole. He hit a pitching wedge straight up and over the tree, with enough on it to reach the green. He three-putted from 50 feet, however, and then dropped another shot on the par-3 third with a three-putt from about 25 feet on the fringe.

His only other bogey came from a bunker on the 12th.

Several players made a run at him — Wi, Gainey among them — and Charles Howell III was right in the mix. Howell was one shot out of the lead until driving into the water on the 17th to make triple bogey, and then making bogey on the last hole to finish five shots behind.

Beljan said a variety of tests showed nothing was wrong with him.

"Physically, everything is wonderful," he said. "It's that little space between those ears that I've got to work on."

This all started about three months ago when he fainted on a flight home from the Reno-Tahoe Open as he was going to the bathroom. Since then, Beljan said he has had a half-dozen panic attacks, usually in controlled environments when he can settle himself down. This one came on a golf course, and it spiraled out of control on Friday.

When he showed up at the course, he felt nervous and a little embarrassed about Friday's afternoon's episodes. But he doesn't mind the travails if it means a chance to win a tournament, or even keep his job for next year. Even if he doesn't win, Beljan would need to finish around 10th to move into the top 125.

Besides, it would be a fitting way for a wild year to end.

After getting his card at Q-school last year, he had hand surgery before starting the season. He found out at the Sony Open that he was going to be a father. He was married in March. He played poorly all year except for one week at the Greenbrier. His baby was born at the end of the FedEx Cup season. He fainted on the plane. He at least secured a spot inside the top 150, only to realize that won't mean as much next year because of a shorter season.

"It's been a long, exciting, hectic, crazy, stressful year," he said. "But hopefully, we're going to end it with a bang."

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The New Old Age Blog: The Emotional Aftermath of Hurricane Sandy

Let’s talk about the emotional aftermath of the storm that left tens of thousands of older people on the East Coast without power, bunkered down in their homes, chilled to the bone and out of touch with the outside world.

Let’s name the feelings they may have experienced. Fear. Despair. Hopelessness. Anxiety. Panic.

Linda Leest and her staff at Services Now for Adult Persons in Queens heard this in the voices of the older people they had been calling every day, people who were homebound and at risk because of medical conditions that compromise their physical functioning.

“They’re afraid of being alone,” she said in a telephone interview a few days after the storm. “They’re worried that if anything happens to them, no one is going to know. They feel that they’ve lost their connection with the world.”

What do we know about how older adults fare, emotionally, in a disaster like that devastating storm, which destroyed homes and businesses and isolated older adults in darkened apartment buildings, walk-ups and houses?

Most do well — emotional resilience is an underappreciated characteristic of older age — but those who are dependent on others, with pre-existing physical and mental disabilities, are especially vulnerable.

Most will recover from the disorienting sense that their world has been turned upside down within a few weeks or months. But some will be thrown into a tailspin and will require professional help. The sooner that help is received, the more likely it is to prevent a significant deterioration in their health.

The best overview comes from a November 2008 position paper from the American Association for Geriatric Psychiatry that reviewed the effects of Hurricane Katrina and other disasters. After Katrina, “the elderly had the highest mortality rates, health decline and suicide rates of any subgroup,” that document notes. “High rates of psychosomatic problems were seen, with worsening health problems and increased mortality and disability.”

This is an important point: Emotional trauma in older adults often is hard to detect, and looks different from what occurs in younger people. Instead of acknowledging anxiety or depression, for instance, older people may complain of having a headache, a bad stomachache or some other physical ailment.

“This age group doesn’t generally feel comfortable talking about their feelings; likely, they’ll mask those emotions or minimize what they’re experiencing,” said Dr. Mark Nathanson, a geriatric psychiatrist at Columbia University Medical Center.

Signs that caregivers should watch out for include greater-than-usual confusion in an older relative, a decline in overall functioning and a disregard for “self care such as bathing, eating, dressing properly and taking medication,” Dr. Nathanson said.

As an example, he mentioned an older man who had “been sitting in a cold house for days and decided to stop taking his water pill because he felt it was just too much trouble.” Being distraught or distracted and forgetting or neglecting to take pills for chronic conditions like diabetes or heart disease can have immediate harmful effects.

Especially at risk of emotional disturbances are older adults who are frail and advanced in age, those who have cognitive impairments like Alzheimer’s disease, those with serious mental illnesses like schizophrenia or major depression, and those with chronic medical conditions or otherwise in poor physical health, according to the geriatric psychiatry association’s position paper.

A common thread in all of the above is the depletion of physical and emotional reserves, which impairs an older person’s ability to adapt to adverse circumstances.

“In geriatrics, we have this idea of the ‘geriatric cascade’ that refers to how a seemingly minor thing can set in motion a functional, cognitive and psychological downward spiral” in vulnerable older adults, said Dr. Mark Lachs, chief of the division of geriatrics at Weill Cornell Medical College. “Well, the storm was a major thing — a very large disequilibrating event — and its impact is an enormous concern.”

Of special concern are older people who may be in the early stages of Alzheimer’s disease or other types of dementia who are living alone. For this group, the maintenance of ordinary routines and the sense of a dependable structure in their lives is particularly important, and “a situation like Sandy, which causes so much disruption, can be a tipping point,” Dr. Lachs said.

Also of concern are older people who may have experienced trauma in the past, and who may suffer a reignition of post-traumatic stress symptoms because of the disaster.

Most painful of all, for many older adults, is the sense of profound isolation that can descend on those without working phones, electricity or relatives who can come by to help.

“That isolation, I can’t tell you how disorienting that can be,” said Bobbie Sackman, director of public policy for the Council of Senior Centers and Services of New York City. “They’re scared, but they won’t tell you because they’re too proud and ashamed to ask for help.”

The best remedy, in the short run, is the human touch.

“Now is the time for people to reach out to their neighbors in high-rises or in areas where seniors are clustered, to knock on doors and ask people how they are doing,” said Dr. Gary Kennedy, director of the division of geriatric psychiatry at Montefiore Medical Center in the Bronx.

Don’t make it a one-time thing; let the older person know you’ll call or come by again, and set up a specific time so “there’s something for them to look forward to,” Dr. Kennedy said. So-called naturally occurring retirement communities with large concentrations of older people should be organizing from within to contact residents who may not be connected with social services and find out how they’re doing, he recommended.

In conversations with older adults, offer reassurance and ask open-ended questions like “Are you low on pills?” or “Can I run out and get you something?” rather than trying to get them to open up, experts recommended. Focusing on problem-solving can make people feel that their lives are being put back in order and provide comfort.

Although short-term psychotherapy has positive outcomes for older adults who’ve undergone a disaster, it’s often hard to convince a senior to seek out mental health services because of the perceived stigma associated with psychological conditions. Don’t let that deter you: Keep trying to connect them with services that can be of help.

Be mindful of worrisome signs like unusual listlessness, apathy, unresponsiveness, agitation or confusion. These may signal that an older adult has developed delirium, which can be extremely dangerous if not addressed quickly, Dr. Nathanson said. If you suspect that’s the case, call 911 or make sure you take the person to the nearest hospital emergency room.

This is a safe place to talk about all kinds of issues affecting older adults. Would you be willing to share what kinds of mental health issues you or family members are dealing with since the storm so readers can learn from one another?

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Hurricane Sandy and the Disaster-Preparedness Economy

Jeffrey Phelps for The New York Times

An assembly line at a Generac Power Systems plant. Generac makes residential generators, coveted items in the wake of Hurricane Sandy.

FOLKS here don’t wish disaster on their fellow Americans. They didn’t pray for Hurricane Sandy to come grinding up the East Coast, tearing lives apart and plunging millions into darkness.

But the fact is, disasters are good business in Waukesha. And, lately, there have been a lot of disasters.

This Milwaukee suburb, once known for its curative spring waters and, more recently, for being a Republican stronghold in a state that President Obama won on Election Day, happens to be the home of one of the largest makers of residential generators in the country. So when the lights go out in New York — or on the storm-savaged Jersey Shore or in tornado-hit Missouri or wherever — the orders come pouring in like a tidal surge.

It’s all part of what you might call the Mad Max Economy, a multibillion-dollar-a-year collection of industries that thrive when things get really, really bad. Weather radios, kerosene heaters, D batteries, candles, industrial fans for drying soggy homes — all are scarce and coveted in the gloomy aftermath of Hurricane Sandy and her ilk.

It didn’t start with the last few hurricanes, either. Modern Mad Max capitalism has been around a while, decades even, growing out of something like old-fashioned self-reliance, political beliefs and post-Apocalyptic visions. The cold war may have been the start, when schoolchildren dove under desks and ordinary citizens dug bomb shelters out back. But economic fears, as well as worries about climate change and an unreliable electronic grid have all fed it.

 Driven of late by freakish storms, this industry is growing fast, well beyond the fringe groups that first embraced it. And by some measures, it’s bigger than ever.

Businesses like Generac Power Systems, one of three companies in Wisconsin turning out generators, are just the start.

The market for gasoline cans, for example, was flat for years. No longer. “Demand for gas cans is phenomenal, to the point where we can’t keep up with demand,” says Phil Monckton, vice president for sales and marketing at Scepter, a manufacturer based in Scarborough, Ontario. “There was inventory built up, but it is long gone.”

Even now, nearly two weeks after the superstorm made landfall in New Jersey, batteries are a hot commodity in the New York area. Win Sakdinan, a spokesman for Duracell, says that when the company gave away D batteries in the Rockaways, a particularly hard-hit area, people “held them in their hands like they were gold.”

Sales of Eton emergency radios and flashlights rose 15 percent in the week before Hurricane Sandy — and 220 percent the week of the storm, says Kiersten Moffatt, a company spokeswoman. “It’s important to note that we not only see lifts in the specific regions affected, we see a lift nationwide,” she wrote in an e-mail. “We’ve seen that mindfulness motivates consumers all over the country to be prepared in the case of a similar event.”

Garo Arabian, director of operations at B-Air, a manufacturer based in Azusa, Calif., says he has sold thousands of industrial fans since the storm. “Our marketing and graphic designer is from Syria, and he says: ‘I don’t understand. In Syria, we open the windows.’ ”

But Mr. Arabian says contractors and many insurers know that mold spores won’t grow if carpeting or drywall can be dried out within 72 hours. “The industry has grown,” he says, “because there is more awareness about this kind of thing.”

Retailers that managed to stay open benefited, too. Steve Rinker, who oversees 11 Lowe’s home improvement stores in New York and New Jersey, says his stores were sometimes among the few open in a sea of retail businesses.

Predictably, emergency supplies like flashlights, lanterns, batteries and sump pumps sold out quickly, even when they were replenished. The one sought-after item that surprised him the most? Holiday candles. “If anyone is looking for holiday candles, they are sold out,” he says. “People bought every holiday candle we have during the storm.”

If the hurricane was a windfall for Lowe’s, its customers didn’t seem to mind. Rather, most appeared exceedingly grateful when Mr. Rinker, working at a store in Paterson, N.J., pointed them toward a space heater, or a gasoline can, that could lessen the misery of another day without power.

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Citing Affair, Petraeus Resigns as C.I.A. Director

The sudden development came just days after President Obama won re-election to a second term. Mr. Petraeus, a highly decorated general who had led the wars in Iraq and Afghanistan, had been expected to remain in the president’s administration.

Instead, Mr. Petraeus said in the statement that the president accepted his resignation on Friday after he had informed him of his indiscretion a day earlier.

“After being married for over 37 years, I showed extremely poor judgment by engaging in an extramarital affair,” Mr. Petraeus wrote. “Such behavior is unacceptable, both as a husband and as the leader of an organization such as ours. This afternoon, the president graciously accepted my resignation.”

Mr. Obama released a statement praising Mr. Petraeus for his “extraordinary service” to the country and saying that Michael J. Morell, the deputy director of the C.I.A., would take over once again as acting director. He served in that position briefly after Leon E. Panetta left the agency last year.

“By any measure, through his lifetime of service, David Petraeus has made our country safer and stronger,” the president said. Without directly addressing the affair, Mr. Obama added: “Going forward, my thoughts and prayers are with Dave and Holly Petraeus, who has done so much to help military families through her own work. I wish them the very best at this difficult time.” Ms. Petraeus is the assistant director of the Office of Servicemember Affairs at the Consumer Financial Protection Bureau.

The development came as a shock to the national security establishment. In a statement, James R. Clapper, the director of national intelligence, called the decision “a loss” to the country.

“Dave’s decision to step down represents the loss of one of our nation’s most respected public servants.” Mr. Clapper wrote. “From his long, illustrious Army career to his leadership at the helm of C.I.A., Dave has redefined what it means to serve and sacrifice for one’s country.”

By acknowleding an extramarital affair, Mr. Petraeus, 60, was confronting a sensitive issue for a spy chief. Intelligence agencies are often concerned about the possibility that agents who engage in such behavior could be blackmailed for information.

In his statement, Mr. Petraeus did not provide any details about his behavior, saying that he asked the president to be allowed “for personal reasons” to resign.

Mr. Petraeus praised his colleagues at the C.I.A.’s headquarters in Langley, Va., calling them “truly exceptional in every regard” and thanking them for their service to the country. He made it clear that his departure was not how he had envisioned ending a storied career in the military and in intelligence.

“Teddy Roosevelt once observed that life’s greatest gift is the opportunity to work hard at work worth doing,” he said. “I will always treasure my opportunity to have done that with you, and I will always regret the circumstances that brought that work with you to an end.”

Over the last several years, Mr. Petraeus had become one of the most recognizable military officials, serving as the public face of the war effort in Congress and on television.

Under President George W. Bush, Mr. Petraeus was credited for helping to develop and put in place the “surge” in troops in Iraq that helped wind down the war in that country. Mr. Petraeus was moved to Afghanistan in 2010 after Mr. Obama fired General Stanley H. McChrystal over comments he made to a magazine reporter.

In Afghanistan, Mr. Petraeus led the push for a similar increase in troops ordered by Mr. Obama, but he was unable to replicate the success he had in the Iraq conflict.

Last year, Mr. Obama persuaded Mr. Petraeus to leave the Army after 37 years to lead the C.I.A., succeeding Mr. Panetta, who moved to the Defense Department.

This article has been revised to reflect the following correction:

Correction: November 9, 2012

An earlier version of this article incorrectly stated that David H. Petraeus was expected to remain in President Obama’s cabinet. The C.I.A. director is not a cabinet member in the Obama administration.

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Beljan nearly passes out on his way to the lead

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The New Old Age Blog: More Time to Enroll in Medicare If You Live in Storm Areas

Medicare beneficiaries battered by Hurricane Sandy have one fewer problem to worry about: Federal officials have extended the Dec. 7 deadline to enroll in a private medical or drug plan for next year for those still coping with storm damage.

The Centers for Medicare and Medicaid Services “understands that many Medicare beneficiaries have been affected by this disaster and wants to ensure that all beneficiaries are able to compare their options and make enrollment choices for 2013,” Arrah Tabe-Bedward, acting director for the Medicare Enrollment and Appeals Group, wrote in a Nov. 7 letter to health insurance companies and state health insurance assistance programs.

Beneficiaries hit by the storm can still enroll after the Dec. 7 midnight deadline if they call Medicare’s 24-hour information line: 1-800-MEDICARE (1-800-633-4227). Representatives will be able to review available plans and complete the enrollment process over the phone.

“We are committed to giving people with Medicare the information and the time they need to make important decisions about their coverage,” a Medicare spokeswoman, Isabella Leung, said in an e-mail message. Medicare officials have not set a new deadline but have encouraged beneficiaries to make their decisions soon if possible.

People currently in a plan will be automatically re-enrolled for next year in the same plan.

The extra time also applies to any beneficiaries who normally get help from family members or others to sort through dozens of plans, but who have been unable to do so this year because they live in areas affected by the storm. Neither beneficiaries nor those who provide them assistance will be required to prove that they experienced storm damage.

“This is a really important recognition by CMS to accommodate Medicare enrollees affected by Hurricane Sandy,” said Leslie Fried, director for policy and programs at the National Council on Aging, an advocacy group in Washington.

After the hurricane, the Obama administration declared Connecticut, New Jersey, New York and Rhode Island “major disaster areas,” according to the Federal Emergency Management Agency. In addition, FEMA issued emergency declarations for parts of Delaware, the District of Columbia, Maryland, Massachusetts, New Hampshire, Pennsylvania, Virginia and West Virginia.

More than four million older people in those states are enrolled in drugs-only plans, and more than 2.8 million have Medicare Advantage policies, which includes medical and health coverage.

Susan Jaffe is a writer for Kaiser Health News, an editorially independent program of the Henry J. Kaiser Family Foundation, a nonprofit, nonpartisan health policy research and communication organization not affiliated with Kaiser Permanente.

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Common Sense: At Martha Stewart Living, Martha May Be the Problem

Among America’s corporate leaders, there are surely few whose interests are more closely aligned with their shareholders than the homemaking icon Martha Stewart. She owns 26 million shares and controls nearly 90 percent of the voting rights of Martha Stewart Living Omnimedia. She’s the company’s nonexecutive chairman and serves on the board. Martha Stewart, the company, is inseparable from Martha Stewart, the person.

Her net worth is inextricably tied to the value of the shares. That would seem obvious to everyone except, perhaps, Ms. Stewart herself. She continues to collect lavish multimillion-dollar compensation and perks while her company teeters under the weight of huge losses, its shares trading for a fraction of their former value. The paradox  is that if the stock had risen even $1 a share in recent years, Martha Stewart would be wealthier now than if she had taken only nominal compensation from the company.

“You’d think there’d be very little need for board oversight because of the strong alignment of the company’s interests with her personal wealth,” Paul Hodgson, a compensation expert and senior research associate at GMI Ratings, told me this week. “Everything should be pushing her to make sure the company succeeds. For some reason, that’s not happening.”

Last week, Ms. Stewart’s company reported a $50.7 million quarterly loss, a staggering amount considering it exceeded total revenue, which was just $43.5 million. That was a 17 percent drop from revenue in the same quarter last year. Although the loss included a $44.3 million noncash write-down related to the shrinking value of two of its magazines, the company until recently has been bleeding cash, which dropped from $38.5 million to just $17.4 million in the quarter. The company said it would lay off about 70 employees, 12 percent of its work force, and discontinue its stand-alone print version of the magazine Everyday Food.

None of this bad news has made much of a dent on Ms. Stewart’s own compensation.  Her base annual pay rose from $1.7 million in 2009 to $2 million in 2010 and 2011, and she received a $3 million retention bonus when she signed her new contract in 2009. She gets an additional minimum of $2 million a year under an “intangible assets license agreement,” which gives the company the rights to “Martha Stewart’s lifestyle and the public perception of Martha Stewart’s lifestyle,” including such details as how she arranges her outdoor furniture.

Her corporate perks are well known, and she has long blurred the line between business and personal expenses. She submitted as a business expense the $17,000 cost of her now-infamous holiday trip to the Mexican luxury resort Las Ventanas al Paraiso. She arrived at the resort the day she dumped her shares in the biotechnology company ImClone upon learning, en route, that the company’s chief executive was trying to sell his shares ahead of a negative Food and Drug Administration decision on the company’s principal drug. (She settled charges of insider trading brought by the Securities and Exchange Commission after being convicted of making criminal false statements to cover up the reason for the sale.) Then she had her accountant tell her companion on the trip that she’d have to pay her “fair share” of the costs, according to testimony in her 2004 trial.

The company doesn’t break out Ms. Stewart’s reimbursed expenses, but general and administrative expenses amounted to a lofty $11 million in the last quarter. That number, of course, includes many expenses besides Ms. Stewart’s, like other executives’ salaries.

The company does reveal what it calls other compensation for Ms. Stewart, which in 2011 included a personal trainer and other expenses for personal fitness; a weekend driver; security services; fees for on-air appearances; unspecified personnel costs not otherwise reimbursed by the company; insurance premiums; and an unidentified charitable contribution, which added up to over $1 million.

Ms. Stewart also receives stock options, nearly $1.8 million worth in 2009 through 2011, though she has not received any options so far this year. Still, as Mr. Hodgson put it, “Why is she even getting stock options? Her interests are already thoroughly aligned with the company, given her ownership stake.” Moreover, the intangible license agreement “is very unusual,” Mr. Hodgson said.

All told, Ms. Stewart’s compensation was $9.8 million in 2009, $5.9 million in 2010 and $5.5 million in 2011, or $21.2 million over the last three years, even as the company was in a downward spiral. Just before Ms. Stewart got out of prison in 2005, her shares were trading at over $34 and she was a billionaire. After plunging during the financial crisis, they were above $8 a share in September 2009. They traded this week at about $2.80.

Asked about the issues raised in this column, a spokesman for Martha Stewart Living Omnimedia declined to comment and said Ms. Stewart had no comment.

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A Transfer of Power Begins in China

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Exclusive: Google Ventures beefs up fund size to $300 million a year

SAN FRANCISCO (Reuters) - Google will increase the cash it allocates to its venture-capital arm to up to $300 million a year from $200 million, catapulting Google Ventures into the top echelon of corporate venture-capital funds.

Access to that sizeable checkbook means Google Ventures will be able to invest in more later-stage financing rounds, which tend to be in the tens of millions of dollars or more per investor.

It puts the firm on the same footing as more established corporate venture funds such as Intel's Intel Capital, which typically invests $300-$500 million a year.

"It puts a lot more wood behind the arrow if we need it," said Bill Maris, managing partner of Google Ventures.

Part of the rationale behind the increase is that Google Ventures is a relatively young firm, founded in 2009. Some of the companies it backed two or three years ago are now at later stages, potentially requiring larger cash infusions to grow further.

Google Ventures has taken an eclectic approach, investing in a broad spectrum of companies ranging from medicine to clean power to coupon companies.

Every year, it typically funds 40-50 "seed-stage" deals where it invests $250,000 or less in a company, and perhaps around 15 deals where it invests up to $10 million, Maris said. It aims to complete one or two deals annually in the $20-$50 million range, Maris said.

LACKING SUPERSTARS

Some of its investments include Nest, a smart-thermostat company; Foundation Medicine, which applies genomic analysis to cancer care; Relay Rides, a carsharing service; and smart-grid company Silver Spring Networks. Last year, its portfolio company HomeAway raised $216 million in an initial public offering.

Still, Google Ventures lacks superstar companies such as microblogging service Twitter or online bulletin-board company Pinterest. The firm's recent hiring of high-profile entrepreneur Kevin Rose as a partner could help attract higher-profile deals.

Soon it could have even more cash to play around with. "Larry has repeatedly asked me: 'What do you think you could do with a billion a year?'" said Maris, referring to Google chief executive Larry Page.

(Editing by Muralikumar Anantharaman)

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College hoops season starts with a military flair

The college basketball season gets under way Friday with a game at a Europe military base, two more aboard Navy ships and another featuring a reshaped national champion playing in a brand new building.

No. 14 Michigan State plays Connecticut, in its first game since the retirement of coach Jim Calhoun, at Ramstein Air Base in Kaiserslautern, Germany. It's the first game between Division I teams held in Europe.

Then it's on to the decks for No. 4 Ohio State against Marquette on the USS Yorktown in Charleston, S.C., and Georgetown facing No. 10 Florida on the USS Battan in Jacksonville, Fla.

No. 3 Kentucky, the defending national champion with a heralded freshman class, plays Maryland in the first college doubleheader at the new Barclays Center in Brooklyn, N.Y.

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Doctor and Patient: Comparative Effectiveness Studies Lack Impact

“Comparative effectiveness” studies, which compare one treatment for a particular illness against another to determine which works better, have received a lot of attention and billions of dollars in federal support in the last few years. But when I mentioned comparative effectiveness research recently to a colleague who I know is particularly interested in treatments and the clinical trials behind them, he let out a loud snort and guffaw before I even finished saying the words.

“It’s a great idea, but it’s not real life,” he said, regaining his composure. “Or at least not the real life of a lot of doctors and patients.”

To explain, he described a newly published study on treating children who are thought to have swallowed a small foreign object, like a coin or a toy. He reeled off a long list of laboratory tests, scans, scopes and X-rays that the researchers recommended for such cases, adding, “Those experts assume that everyone lives near big medical centers like theirs, but not all of my patients do. And what are we going to do if the insurance company doesn’t approve of all the tests we order?”

It took only a cursory review of comparative effectiveness research over the last decade for me to realize that my colleague was right. Despite many useful and even potentially cost-saving findings, many of them failed to change doctors’ practice and patient care.

Now a group of researchers has offered a cogent analysis in the journal Health Affairs to explain this failure. And they have done so using methods about as different from comparative effectiveness as research can be.

The researchers talked to more than 50 doctors, patient advocates and other health care experts, each of whom had created, conducted or evaluated comparative effectiveness research or helped introduce the findings into clinical practice. During the interviews, they referred to trials of blood pressure medications, spine surgery, antipsychotic drugs, a heart rhythm device, heart catheterizations and bone marrow transplantation, and then asked why some of these studies seemed to inspire enduring changes while others did not.

A handful of factors came up again and again. Those interviewed frequently referred to the fact that many of these studies did not address the actual needs of practicing clinicians and patients. For instance, one study of medications for treating psychosis focused on the differences in efficacy among the drugs, but mental health care providers really wanted to know about differences in safety.

Sometimes, too, a study’s conclusions required such a significant shift in thinking that doctors and patients had difficulty adjusting to the change, like the recent recommendations against using measures of the prostate-specific antigen, or PSA, as a screening test for cancer. Other times, the findings were so nuanced or ambiguous, with such complicated restrictions on what worked best when, that they simply were not incorporated into professional guidelines or recommendations.

But perhaps the most common reason for these studies’ failures came down to dollars. In the current health care system, clinicians are rewarded for doing and ordering more. Pharmaceutical and medical device firms reap fortunes from physicians’ orders, and a single change could cost them billions. Studies that endorse anything less than another expensive procedure or a newer and more expensive medication or the latest device are often destined for failure or a protracted struggle against drug and device companies that are willing to put up a costly fight.

“The incentives are all out of whack,” said Justin W. Timbie, the lead author and a health policy researcher at the RAND Corporation in Arlington, Va. “The current system favors treatments that are well paid, not necessarily those that are most effective.”

For example, one study found that generic diuretic pills that cost pennies a day worked better for patients with high blood pressure than newer drugs that could be as much as 20 times as expensive. Because hypertension affects tens of millions of Americans, this finding had the potential to save the health care system billions of dollars.

But the finding never really took hold; the percentage of patients taking the cheaper diuretics barely increased. Physicians had a difficult time changing their prescribing habits; limited funding prevented researchers from widely disseminating the results; and pharmaceutical companies waged an aggressive marketing campaign that included paying health care experts to speak about the study in a way that made their expensive drugs seem better.

Based on their findings from these interviews, Dr. Timbie and his fellow investigators offer several suggestions that may improve the impact of these studies. These include realigning financial incentives to support recommended changes in practice; incorporating a broad range of perspectives, like those of practicing doctors and patients, in the design, goals and interpretation of such studies; and, above all, proceeding with a clear strategy for all future comparative effectiveness research.

Despite the challenges, the researchers remain optimistic about the future. And for good reason. Their study was initiated by policy makers and financed by the federal office responsible for health care policy coordination and planning. And representatives from the new national organization, the Patient-Centered Outcomes Research Institute, whose mission is to develop and oversee such studies, have reviewed and discussed the suggestions with Dr. Timbie and the other authors of the study.

“The track record to now has not been great, but for the first time, comparative effectiveness research is a priority for the country,” Dr. Timbie said. “The whole process of generating new evidence has a degree of governance that has never existed before.”

“It’s all about impact now,” he added.

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News Analysis: For Obama, Housing Policy Presents Second-Term Headaches

A second-term president may be just the person to tackle America’s housing problems.

When President Obama first came into office, home prices were crashing, foreclosures were soaring and the previous Bush administration had just initiated the bailout of Fannie Mae and Freddie Mac, the government-backed entities that agree to repay mortgages if the original borrower defaults.

With the market in shambles in 2009, the Obama administration pursued a tentative housing policy, for the most part avoiding big moves that might have further weakened the housing market or banks. Eventually, there were some bolder initiatives, like the national mortgage settlement with big banks as well as the Treasury Department’s aid programs for homeowners.

But as President Obama’s first administration comes to an end, the government is still deeply embedded in the mortgage market. In the third quarter, various government entities backstopped 92 percent of all new residential mortgages, according to Inside Mortgage Finance, a publication that focuses on the home loan industry.

Mr. Obama’s economic team has consistently said it wants the housing market to work without significant government support. But it has taken few actual steps to advance that idea.

“I think Obama is absolutely committed to reducing the government’s role,” said Thomas Lawler, a former chief economist at Fannie Mae and founder of Lawler Economic and Housing Consulting, an industry analysis firm. “But no one’s yet found a format to do that.”

Housing policy is hard to tackle because so many people have benefited from the status quo. The entire real estate system — the banks, the agents, the home buyers — all depend on a market that provides fixed-rate, 30-year mortgages that can be easily refinanced when interest rates drop. That sort of loan is rare outside of the United States. And any effort to overhaul housing and the mortgage market could eventually reduce the amount of such mortgages in the country, angering many and creating a political firestorm.

In other words, the best person to fundamentally change how housing works may be a president who won’t be running for office again.

Most immediately, the housing market has to be strong enough to deal with a government pullback. Some analysts think it’s ready. “I think the housing recovery is far enough along that they can start winding down Fannie and Freddie,” said Phillip L. Swagel at the University of Maryland’s School of Public Policy, who served as assistant secretary for economic policy under Treasury Secretary Henry M. Paulson Jr.

The administration can take smaller steps first. Mr. Lawler, the housing economist, thinks the government could start to reduce the maximum amount that it will guarantee for Fannie and Freddie loans. In some areas, like parts of the Northeast and California, it is as high as $625,000. Before the financial crisis, it was essentially capped at $417,000.

The big question is whether the private sector — banks and investors that buy bonds backed with mortgages — will pick up the slack when the government eases out of the market. If they don’t, the supply of mortgages could fall and house prices could weaken.

Banks say their appetite depends on how new rules for mortgages turn out. In setting such regulations, some tough choices have to be made.

The new rules will effectively map the riskiness of various types of mortgages. In determining that, regulators will look at the features of the loans and the borrowers’ income. Banks say they are unlikely to hold loans deemed risky, and their lobbyists are pressing for legal protection on the safer ones, called qualified mortgages.

The temptation will be to make the definition of what constitutes a qualified mortgage as broad as possible, to ensure that the banks lend to a wide range of borrowers. But regulators concerned with the health of the banks won’t want a system that incentivizes institutions to make potentially risky loans.

One set of qualified mortgage regulations, being written by the Consumer Financial Protection Bureau, could be completed as early as January. Other regulators, like the Federal Reserve, are expected to take longer in finishing their mortgage rules.

Resolving the conflict between mortgage availability and bank strength may depend on the person who replaces Timothy F. Geithner as Treasury secretary. Mr. Geithner is stepping down at the end of Mr. Obama’s first term.

The Obama administration faces other daunting decisions.

One is how to deal with the considerable number of troubled mortgages still in the financial system. Banks might be reluctant to make new loans until they have a better idea of the losses on the old loans. “If you don’t ever deal with these problems, you may never get to where you want to go,” said Mr. Lawler, the housing economist.

To help tackle that issue, the new administration might decide to make its mortgage relief programs more aggressive. It might even aim for more loan modifications, writing down the value of the mortgages to make them easier to pay. The Federal Housing Finance Agency, the regulator that oversees Fannie Mae and Freddie Mac, has effectively blocked such write-downs on the vast amount of loans those entities have guaranteed.

A new Obama administration may move to change the agency’s stance on write-downs, perhaps by replacing its acting director, Edward DeMarco. If that happened, it would be a sign that the White House had a taste for more radical housing actions. The agency declined to comment.

Then there’s what to do with the Federal Housing Administration, another government entity that has backstopped a huge amount of mortgages since the financial crisis. The housing administration was set up to focus on lower-income borrowers, and it backs loans that have very low down payments. Its share of the market has grown since the crisis. The F.H.A. accounted for 13 percent of the market in the third quarter, according to Inside Mortgage Finance.

The new administration has to decide whether it wants the F.H.A. to continue doing as much business. The risk is that a big pullback by the F.H.A. could reduce the availability of mortgages to lower-income borrowers. Banks almost certainly won’t want to write loans with minuscule down payments since they are considered riskier.

Ultimately, housing policy comes down to one question: Which borrowers should get the most subsidies?

Right now, the government largess encompasses a wide swath of borrowers. But most analysts believe government support should be focused on lower-income borrowers.

“We will know that the Obama administration is serious about housing finance reform when it comes up with a proposal for affordable housing,” said Mr. Swagel, the University of Maryland professor.

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Obama’s Other ‘Cliff’ Is in Foreign Policy

For all the talk of a “fiscal cliff” threatening the nation’s finances, President Obama also faces a foreign policy cliff of sorts, with a welter of national security issues that he put on the back burner during the campaign now clamoring for his attention.

Atop that list, administration officials and foreign policy experts say, is the bloody civil war in Syria and the standoff with Iran over its nuclear program. The United States is likely to engage the Iranian government in direct negotiations over the next few months, in perhaps a last-ditch diplomatic effort to head off a military strike on its nuclear facilities.

Administration officials said that they had not set a date for talks and that they did not know if Iran’s supreme leader, Ayatollah Ali Khamenei, would give his blessing. But with Iran’s uranium centrifuges spinning and Israel threatening its own military action, the need to avoid a war may make this high-risk diplomatic effort Mr. Obama’s No. 1 priority.

Syria, too, will demand a pressing response, given the high human toll of the violence and the danger of a spreading regional conflict. Mr. Obama, however, remains leery of being dragged into the conflict, rejecting calls to supply weapons to rebel groups. His reluctance has been partly political, experts say, but he also has strategic qualms.

“At a time when he was running on a platform of ending wars in the Middle East, he did not want to be seen as starting one,” said Martin S. Indyk, a former American ambassador to Israel.

“But if he doesn’t try to intervene in a way that gives him a way to shape a post-Assad regime on the ground,” Mr. Indyk continued, referring to the Syrian president, Bashar al-Assad, “there’s a high risk of descent into chaos in Syria, and a sectarian war that spreads to Lebanon, Bahrain and eventually Saudi Arabia.”

Beyond those flash points, the president will have to grapple with Pakistan, an unstable nuclear state whose relationship with Washington has eroded during his presidency. And he will have to oversee an orderly exit from Afghanistan, where the waning American role threatens to throw the country back into chaos and Islamic militancy.

As he does so, some question whether he will rethink his administration’s heavy reliance on drone strikes to kill people suspected of being extremists, a policy that has proved lethally efficient but has sown deep resentment in Pakistan and Afghanistan.

More broadly, Mr. Obama will face Russia under the aggressive leadership of President Vladimir V. Putin and China with the opposite problem — negotiating a tumultuous change in power after a scandal that tainted the top ranks of its Communist leadership.

None of these problems are new, but many were effectively shelved over the past year as the president waged a bitter re-election battle dominated by his stewardship of the economy. Foreign policy played such a bit part in the election that even in the debate ostensibly devoted to it, Mr. Obama and Mitt Romney detoured into a discussion of high school test scores in Massachusetts.

For reasons of history and political reality, a re-elected Mr. Obama is likely to devote more time to foreign affairs. From Richard M. Nixon to Bill Clinton, presidents have tended to make their bid for statesman status in their second terms. The prospect of continuing gridlock — with the Republicans still controlling the House — gives Mr. Obama all the more reason to favor diplomacy over domestic legislation.

There is also some unfinished business from the past four years, not least Mr. Obama’s frustrated efforts to broker a peace agreement between Israel and the Palestinians. But several experts cast doubt on whether the president would throw himself into the role of Middle East peacemaker, as Mr. Clinton did in his second term.

The Israeli prime minister, Benjamin Netanyahu, who has had a fraught relationship with Mr. Obama, faces his own voters early next year, but he seems likely to stay in power with a right-wing government. Such an arrangement could make peacemaking difficult.

“Because he got his fingers burned and was outmaneuvered by Netanyahu, he will wait to see the outcome in the Israeli election,” said Mr. Indyk, who wrote a book about Mr. Obama’s foreign policy, “Bending History.” He added that the president is “going to think long and hard about trying again.”

The added wrinkle for the United States: the Palestinian Authority is likely to petition for nonstate membership in the United Nations next month, a step it had put off until after the election. If the United Nations were to grant it, that would trigger Congress to cut off aid not only to the Palestinian Authority but also to the United Nations itself.

The mere fact of Mr. Obama’s victory does not ease these problems. But as the president himself famously said to Russia’s former president, Dmitri A. Medvedev, at a nuclear conference in South Korea, he may have more room to maneuver in dealing with them.

Ask foreign policy experts for wild cards in a second Obama term and two countries come up: India and Cuba. Little progress was made in opening the door to Havana during the past four years, but hope springs eternal for those who advocate an end to the half-century-old trade embargo. Mr. Obama also is likely to build on his ties to India.

India figures into the biggest geopolitical bet of Mr. Obama’s presidency: the American pivot from the Middle East to China and Asia. With four more years, experts said, Mr. Obama can put meat on the bones of an ambitious, but incomplete, policy.

Here, however, is where the fiscal cliff meets foreign policy. To be credible in reasserting an American presence in Asia, experts said, will require a robust military presence from the Yellow Sea to the South China Sea. But unless the White House and Congress can strike some kind of fiscal deal, the Pentagon will face deep automatic cuts in its budget, depriving it of the ability to project power as it once did.

For Mr. Obama to realize his grandest visions abroad, then, he will still have to work with the same House Republicans who thwarted him on the home front in his first term.

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Apple slides to five-month low, uncertainty grows

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Luck among players shaving head to support Pagano

INDIANAPOLIS (AP) — Andrew Luck has joined the shaved squad, too.

Nearly three dozen players on the Indianapolis Colts have shaved their heads in a show of support for head coach Chuck Pagano, who is undergoing treatment for a form of leukemia.

Luck became a new member of the no-hair club Wednesday morning. Players and coaches were not available for comment because they were headed to Jacksonville, but a team spokesman confirmed that Luck will indeed look quite different when he takes off his helmet Thursday night.

"Buzzed heads and orange locks in honor of Chuck," team owner Jim Irsay tweeted. He also included a link to a photo showing many of the players who had gotten buzzed.

Indianapolis (5-3) has gone to great lengths to give their ailing coach encouragement.

Reggie Wayne wore orange gloves against Green Bay, the ribbon color used to raise awareness for leukemia. Nameplates above player's lockers at the team complex now include orange stickers with Pagano's initials in the middle of Indy's trademark horseshoe. They sent Pagano a game ball after their surprising win over the Packers on Oct. 4. Irsay has placed signs reading (hash)Chuckstrong in each end zone of Lucas Oil Stadium, and the team has been trying to raise money to support leukemia research.

The newest addition to the agenda came late Tuesday when the team said Wayne, Luck and interim coach Bruce Arians would participate in a fundraiser at Dunaway's, a local restaurant, on Nov. 16. They will sign autographs and take photos with fans to help benefit The Leukemia & Lymphoma Society.

So when Pagano showed up in the Colts' locker room Sunday without his grayish hair or trademark goatee, player director of engagement David Thornton decided to bring in a barber following Tuesday's practice.

The idea was an immediate hit — and seems to be growing larger by the day.

About two dozen players, including kicker Adam Vinatieri, defensive end Cory Redding, Pro Bowl safety Antoine Bethea and punter Pat McAfee, left the team headquarters Tuesday night with no hair. It's a new look for McAfee, who had a ponytail until last fall when he cut it off and donated the hair to Locks of Love, a cancer charity.

"We haven't been together long... But we're in this together," McAfee wrote in a Twitter message.

On Wednesday morning, more players joined the contingent, including Luck, the No. 1 overall draft pick and this week's AFC offensive player of the week.

At this rate, all of the Colts could have a whole team without hair playing Thursday night at the Jaguars. Arians, one of Pagano's close friends and a prostate cancer survivor, doesn't have any hair, either, though he's donned that look all season.

Pagano was diagnosed with leukemia on Sept. 26 and remained hospitalized for treatment until Oct. 21. He watched the next two Colts games from his home before doctors allowed him to attend Sunday's victory over Miami. Pagano watched the 23-20 victory from the coaches' box and spoke with his team before and after the game.

"I've got circumstances. You guys understand it, I understand it," Pagano said in an emotional postgame speech. "It's already beat. It's already beat. My vision that I'm living is to see two more daughters get married, dance at their weddings and then lift the Lombardi Trophy several times. I'm dancing at two more weddings and we're hoisting that trophy together, men. Congratulations, I love all of you."

On Monday, Pagano's physician, Dr. Larry Cripe of the Indiana University Simon Cancer Center, said Pagano was in "complete remission." Cripe said Pagano is still scheduled to have two more rounds of chemotherapy. The second round starts this week and will last four to six weeks, Cripe said.

Arians has said the Colts hope to have Pagano back on the sideline Dec. 30, Indy's regular season finale against Houston.

___

Online: http://pro32.ap.org/poll and http://twitter.com/AP_NFL

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A Collective Effort to Save Decades of Research at N.Y.U.

The calls started coming in late on Tuesday and early Wednesday: offers of dry ice, freezer space, coolers. By the end of Thursday there were dozens more: A researcher at Weill Cornell Medical College would clear 1,000 tanks to save threatened zebra fish; another, at Cold Spring Harbor Laboratory, promised to replace some genetically altered mice that were lost; and a doctor at the Children’s Hospital of Philadelphia even offered take over entire experiments, to keep them going.

As hurricane-driven waters surged into New York University research buildings in Kips Bay, on the East Side of Manhattan, investigators in New York and around the world jumped on the phone to offer assistance — executing a reverse Noah’s ark operation, to rescue lab animals and other assets from a flooding vessel.

“I’ve had 43 people who have offered to help so far, and some of them are direct competitors,” said Gordon Fishell, associate director of the N.Y.U. Neuroscience Institute, who lost more than 5,000 genetically altered mice when storm waters surged the night of Oct. 30, cutting off power. “It’s just been unbelievable,” he said. “It really buoys my spirits and my lab’s.”

Staff members at N.Y.U. worked around the clock to preserve research materials, running in and out of darkened buildings without elevator service, hauling dry ice and other supplies up anywhere from 2 to more than 15 floors.

The university’s medical center also got instant help, from almost every major research institution in the area.

The response reflects large shifts in the way that science is conducted over the past generation or so. Individual labs always compete to be first, but researchers increasingly share materials that are enormously expensive and time-consuming to reproduce. The loss of a single cell line or genetically altered animal can slow progress for years in some areas of biomedical research.

“We are totally dependent on each other in the life sciences now, for a very large number of cell lines and extracts, research animals and unique chemical tools and antibodies that might not have backup copies anywhere in the world, or in very few places,” said Dr. Steven Hyman, director of the Stanley Center for Psychiatric Research at the Broad Institute of M.I.T. and Harvard. “Losing any of these tools tears a significant hole in the entire field.”

Danny Reinberg, a professor of biochemistry at N.Y.U.’s medical school, has studied genetics for 30 years, accumulating valuable mice strains and stocks of extracts from cell nuclei that would be extremely difficult to replace. The extracts must be stored at minus 112 degrees Fahrenheit.

Dr. Reinberg said he lost all of his mice: nine strains, including more than 1,000 animals that died in the storm surge. But he managed to save all of the cell extracts by moving some containers into freezers at N.Y.U. labs that weren’t affected and others to the Rockefeller, Columbia and Cornell medical centers, each of which cleared space, he said.

“We were able to save many things; it was just phenomenal to get that kind of help,” said Dr. Reinberg, whose house in New Jersey has had no power.

“Later in the week, at a Starbucks, I could finally download all my e-mail, and there were messages from people at the University of Pennsylvania and the Howard Hughes Medical Institute, asking how they could help us re-establish the mouse lines we lost,” he said.

Some scientists have become interdependent because their students, who develop a specialty in specific tissues or animals, often move among labs. Research projects sometimes draw on experiments or analyses the students worked on at more than one place.

One researcher working in Dr. Fishell’s lab was formerly a student of Dr. Stewart Anderson of the Children’s Hospital of Philadelphia, who sent Dr. Fishell a text message on Wednesday to offer help. “I told him that even if it costs money, we’re happy to keep experiments rolling, if we’re able to,” Dr. Anderson said.

By late Thursday, freezer space in minus-112-degree units was extremely tight in the city. So was dry ice.

Susan Zolla-Pazner, director of AIDS research at the Manhattan Veterans Affairs Medical Center, had lost power in her 18th-floor lab in the department’s building at 23rd Street and First Avenue. She finally hired a company to haul her 20 freezers-full of specimens, for safekeeping.

“We spent all of Tuesday and Wednesday hauling 1,300 pounds of dry ice up to the 18th floor, using the stairs, to stabilize the freezers first,” said Dr. Zolla-Pazner, who is also a professor of pathology at N.Y.U. School of Medicine. “And the dry ice people would only take cash. I have about 25 to 30 people working for me, and everyone was out there on 23rd Street, reaching into their pockets to get what we needed. It was a herculean and heroic effort on the part of everyone here, and that is the story that needs to be told.”

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Investors on Wall St. React Nervously

Henny Ray Abrams/Associated Press

A trader on the floor of the New York Stock Exchange on Wednesday. A day after the election, the outlook of continued divided government in Washington and little prospect for compromise unnerved traders.

A one-two punch of worries about the post-election picture in the United States and economic weakness in Europe sent stocks reeling Wednesday, with major indices falling more than 2 percent. Some industry sectors, like finance and managed care, fell substantially more than that over fears they would be hurt by tougher regulations and other adverse policies in President Obama’s second term.

The Standard & Poor’s 500-stock index recorded its worst performance since June, falling 33.86 to 1,394.53, while the Dow Jones industrial average fell 312.95 to 12,932.73. It was the Dow’s first close below the psychologically important 13,000 level since August.

Shares also came under pressure after Barclays sharply reduced its year-end target for the S.&P. 500 to 1,325 from 1,395 — 5 percent below where the broad-based index closed Wednesday.

“Within the equity market in the near term, we believe there will be nowhere to hide,” said Barry Knapp, chief United States equity strategist at Barclays. “In the near term, we generally suggest cutting risk.”

Many market strategists expect that the market will remain volatile between now and mid-January. If Congress and the president cannot come up with a plan to cut the deficit, hundreds of billions in Bush-era tax cuts are set to expire at the beginning of 2013 while automatic spending cuts will sharply cut the defense budget and other programs.

Known as the fiscal cliff, this simultaneous combination of sweeping reductions in government spending and tax increases could push the economy into recession in 2013, economists fear.

In the wake of President Obama’s re-election, companies in some sectors, like hospitals and technology, will see a short-term pop, said Tobias Levkovich, chief United States equity strategist with Citi. Other areas, like financial services as well as coal and mining, are likely to be hurt, Mr. Levkovich said.

Indeed, coal companies were among the worst hit Wednesday. The coal industry is particularly sensitive to new environmental regulations, while Mr. Obama has pushed in the past for more investments in renewables and alternative energy sources that could reduce coal demand in the long-term.

Shares of Alpha Natural Resources, a coal giant, were down 12.2 percent to $8.45, while Arch Coal was off 12.5 percent to $7.58.

But HCA Holdings, a hospital operator, jumped 9.4 percent, to $33.85 a share. As a result of Mr. Obama’s victory, Goldman Sachs said it upgraded its rating on HCA to buy from neutral, and raised its price target to $39 from $31. It also raised price targets for Tenet Healthcare and Community Health Systems, although both are still rated neutral.

Goldman downgraded shares of Humana, a leading managed care company, to sell, and its shares fell 7.9 percent to $70.16. Goldman warned that Humana and other managed care providers could be hurt as health care reform moves forward, especially new rules for health insurers that become effective in 2014.

Shares of Wall Street firms and big banks were also hard hit. While Mitt Romney favored substantially altering the Dodd-Frank financial regulations passed in the summer of 2010 and easing many regulations, President Obama has supported stricter rules for the financial services industry. In addition, one of the industry’s fiercest critics, Elizabeth Warren, was elected to the Senate from Massachusetts, unseating her Republican opponent, Scott Brown.

Bank of America fell 7.1 percent to $9.23 while Goldman Sachs dropped 6.6 percent to $117.98 and JPMorgan Chase sank 5.6 percent to $40.48.

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Greece to Vote on $23 Billion in New Cuts

Angelos Tzortzinis for The New York Times

Greeks began two days of nationwide strikes on Tuesday to protest the new austerity measures, which include further cuts to pensions, civil service salaries and social benefits.

ATHENS — Destabilized by scandals yet held together by a lack of alternatives, the Greek government prepared to push a raft of politically toxic new austerity measures through Parliament on Wednesday, a move aimed at securing international financing and ensuring that the debt-wracked nation will remain in the euro zone.

But some members of Prime Minister Antonis Samaras’s fragile three-party coalition government were expected to break ranks and vote against the measures, reviving questions about how long the coalition can hold together.

On the streets, austerity-weary Greeks kicked off two days of nationwide strikes on Tuesday to protest the new measures, which will total $23 billion over the next four years.

The measures, which are expected to pass by a razor-thin margin in Parliament, are required to unlock $40 billion in rescue financing that the country needs to meet expenses. The European Union’s commissioner for economic and monetary affairs, Olli Rehn, said in Brussels on Monday that lenders were on track to release the aid.

But with so many volatile elements in play, including a series of interlocking scandals in Greece that are gaining momentum, analysts said that it was unclear if the Samaras government could survive under the pressure. “All systems are in critical condition, even the smallest thing can destabilize the system or the government,” said Paschos Mandravelis, a columnist for the daily newspaper Kathimerini.

Even as they jockey over a new round of austerity, leaders are under fire for failing to crack down on high-level tax evasion, after they were handed a list two years ago of more than 2,000 Greeks said to have Swiss bank accounts.

Called the Lagarde list, after Christine Lagarde, the International Monetary Fund chief who provided the information, it was published last week by the magazine HotDoc, prompting the arrest and rapid acquittal of the publication’s editor. The entire affair has done substantial damage to the already weakened Socialist Party, the second largest in Mr. Samaras’s coalition. Two Socialist finance ministers — Evangelos Venizelos, the current Socialist leader, and George Papaconstantinou, his predecessor — are under fire for failing to act on the list.

Most analysts said that they believed the government would hold up for now. But two other rival parties are gaining ground in opinion polls. If the country were to hold new elections today, the leftist Syriza party — which has risen rapidly from virtual obscurity on a platform of repudiating Greece’s bailout but staying in the euro — would place first, followed by Mr. Samaras’s New Democracy Party, the polls suggest.

Since claiming power in June, Mr. Samaras has labored to restore Greece’s credibility with its European partners, particularly with Chancellor Angela Merkel of Germany, who has insisted that Greece remain a part of the euro zone.

“It’s clear that this government is making all the right noises,” said Mujtaba Rahman, Europe analyst at the Eurasia Group. “They’re much more credible, and creditors are happy with the progress they have made.” Nevertheless, he added, even when the next wave of financial aid arrives, “Greece is not at all out of the woods.”

The new austerity measures, which include further cuts to pensions, civil service salaries and social benefits, are expected to reduce gross domestic product by 9 percent, dealing a new blow to an economy entering its sixth year of recession and likely adding to an unemployment rate already exceeding 25 percent. A total of $17 billion in cuts and tax increases will be put into effect in the next two years. But because the Greek economy is shrinking even faster than expected, an additional $4.5 billion in austerity measures will be required between 2015 and 2016 to meet the country’s fiscal targets.

As matters stand, Greece is still staggering under a mountain of debt, which is expected to rise to 189 percent of gross domestic product in 2013, from 175.6 percent now, as interest piles up on all the loans Greece must repay. The deficit next year is expected to swell as well, to 5.2 percent of G.D.P. from a forecast of 4.2 percent.

Other euro zone governments have discussed forgiving some or part of the nearly $68 billion in loans they made to Greece, a step that many economists regard as inevitable if Greece is ever to emerge from its fiscal straitjacket. But it is considered politically unpalatable, especially in Germany, where Mrs. Merkel faces an election next year.

Niki Kitsantonis contributed reporting.

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