Governor to sue NCAA over Penn State sanctions


HARRISBURG, Pa. (AP) — Gov. Tom Corbett said Tuesday he plans to sue the NCAA in federal court over stiff sanctions imposed against Penn State University in the wake of the Jerry Sandusky child sexual abuse scandal.


The Republican governor scheduled a Wednesday news conference on the Penn State campus in State College to announce the antitrust filing in U.S. District Court in Harrisburg.


The sanctions, which were agreed to by the university in July, included a $60 million fine that would be used nationally to finance child abuse prevention grants. The sanctions also included a four-year bowl game ban for the university's marquee football program, reduced football scholarships and the forfeiture of 112 wins but didn't include a suspension of the football program, the so-called death penalty.


The governor's office announced the news conference late Tuesday afternoon. His spokesman did not respond to repeated calls and emails seeking to confirm a Sports Illustrated story that cited anonymous sources saying a lawsuit was imminent.


Corbett's brief statement did not indicate whether his office coordinated its legal strategy with state Attorney General-elect Kathleen Kane, who is scheduled to be sworn in Jan. 15.


Kane, a Democrat, ran on a vow to investigate why it took state prosecutors nearly three years to charge Sandusky, an assistant under former football coach Joe Paterno. Corbett was the attorney general when that office took over the case in early 2009 and until he became governor in January 2011.


State and congressional lawmakers from Pennsylvania have objected to using the Penn State fine to finance activities in other states. Penn State has already made the first $12 million payment, and an NCAA task force is deciding how it should be spent.


The NCAA, which did not respond to calls seeking comment Tuesday, has said at least a quarter of the money would be spent in Pennsylvania.


Republican U.S. Rep. Charlie Dent called that an "unacceptable and unsatisfactory" response by the NCAA to a request from the state's U.S. House delegation that the whole $60 million be distributed to causes within the state.


Last week, state Sen. Jake Corman, a Republican whose district includes Penn State's main campus, said he plans to seek court action barring any of the first $12 million from being released to groups outside the state.


Sandusky, 68, was convicted in June on charges he sexually abused 10 boys, some on Penn State's campus. He's serving a 30- to 60-year state prison term.


Eight young men testified against him, describing a range of abuse they said went from grooming and manipulation to fondling, oral sex and anal rape when they were boys.


Sandusky did not testify at his trial but has maintained his innocence, acknowledging he showered with boys but insisting he never molested them.


Read More..

Study Suggests Lower Mortality Risk for Overweight People





A century ago, Elsie Scheel was the perfect woman. So said a 1912 article in The New York Times about how Miss Scheel, 24, was chosen by the “medical examiner of the 400 ‘co-eds’ ” at Cornell University as a woman “whose very presence bespeaks perfect health.”




Miss Scheel, however, was hardly model-thin. At 5-foot-7 and 171 pounds, she would, by today’s medical standards, be clearly overweight. (Her body mass index was 27; 25 to 29.9 is overweight.)


But a new report suggests that Miss Scheel may have been onto something. The report on nearly three million people found that those whose B.M.I. ranked them as overweight had less risk of dying than people of normal weight. And while obese people had a greater mortality risk over all, those at the lowest obesity level (B.M.I. of 30 to 34.9) were not more likely to die than normal-weight people.


The report, although not the first to suggest this relationship between B.M.I. and mortality, is by far the largest and most carefully done, analyzing nearly 100 studies, experts said.


But don’t scrap those New Year’s weight-loss resolutions and start gorging on fried Belgian waffles or triple cheeseburgers.


Experts not involved in the research said it suggested that overweight people need not panic unless they have other indicators of poor health and that depending on where fat is in the body, it might be protective or even nutritional for older or sicker people. But over all, piling on pounds and becoming more than slightly obese remains dangerous.


“We wouldn’t want people to think, ‘Well, I can take a pass and gain more weight,’ ” said Dr. George Blackburn, associate director of Harvard Medical School’s nutrition division.


Rather, he and others said, the report, in The Journal of the American Medical Association, suggests that B.M.I., a ratio of height to weight, should not be the only indicator of healthy weight.


“Body mass index is an imperfect measure of the risk of mortality,” and factors like blood pressure, cholesterol and blood sugar must be considered, said Dr. Samuel Klein, director of the Center for Human Nutrition at Washington University School of Medicine in St. Louis.


Dr. Steven Heymsfield, executive director of the Pennington Biomedical Research Center in Louisiana, who wrote an editorial accompanying the study, said that for overweight people, if indicators like cholesterol “are in the abnormal range, then that weight is affecting you,” but that if indicators are normal, there’s no reason to “go on a crash diet.”


Experts also said the data suggested that the definition of “normal” B.M.I., 18.5 to 24.9, should be revised, excluding its lowest weights, which might be too thin.


The study did show that the two highest obesity categories (B.M.I. of 35 and up) are at high risk. “Once you have higher obesity, the fat’s in the fire,” Dr. Blackburn said.


But experts also suggested that concepts of fat be refined.


“Fat per se is not as bad as we thought,” said Dr. Kamyar Kalantar-Zadeh, professor of medicine and public health at the University of California, Irvine.


“What is bad is a type of fat that is inside your belly,” he said. “Non-belly fat, underneath your skin in your thigh and your butt area — these are not necessarily bad.”


He added that, to a point, extra fat is accompanied by extra muscle, which can be healthy.


Still, it is possible that overweight or somewhat obese people are less likely to die because they, or their doctors, have identified other conditions associated with weight gain, like high cholesterol or diabetes.


“You’re more likely to be in your doctor’s office and more likely to be treated,” said Dr. Robert Eckel, a past president of the American Heart Association and a professor at University of Colorado.


Some experts said fat could be protective in some cases, although that is unproven and debated. The study did find that people 65 and over had no greater mortality risk even at high obesity.


“There’s something about extra body fat when you’re older that is providing some reserve,” Dr. Eckel said.


And studies on specific illnesses, like heart and kidney disease, have found an “obesity paradox,” that heavier patients are less likely to die.


Still, death is not everything. Even if “being overweight doesn’t increase your risk of dying,” Dr. Klein said, it “does increase your risk of having diabetes” or other conditions.


Ultimately, said the study’s lead author, Katherine Flegal, a senior scientist at the Centers for Disease Control and Prevention, “the best weight might depend on the situation you’re in.”


Take the perfect woman, Elsie Scheel, in whose “physical makeup there is not a single defect,” the Times article said.


This woman who “has never been ill and doesn’t know what fear is” loved sports and didn’t consume candy, coffee or tea. But she also ate only three meals every two days, and loved beefsteak.


Maybe such seeming contradictions made sense against the societal inconsistencies of that time. After all, her post-college plans involved tilling her father’s farm, but “if she were a man, she would study mechanical engineering.”


Read More..

Shell Oil Rig Runs Aground in Alaska





An enormous Shell Oil offshore drilling rig ran aground on an island in the Gulf of Alaska on Monday night after it broke free from tow ships in rough seas, officials said.




The rig, the Kulluk, which was used for test drilling in the Arctic last summer, is carrying about 139,000 gallons of diesel fuel and 12,000 gallons of lubricating oil and hydraulic fluid, the officials said.


A Coast Guard helicopter flew over the rig after the grounding at 8:48 p.m. and “detected no visible sheen,” said Darci Sinclair, a spokeswoman for a unified command of officials from Shell, Alaskan state agencies and other groups that has been directing the response since the troubles with the rig began last Thursday.


Ms. Sinclair said that more overflights were planned after daybreak on Tuesday, and that the unified command would be monitoring the fuel situation as it planned further actions. “The focus will be around salvage,” she said.


The 266-foot diameter rig ran aground on the east coast of Sitkalidak Island, an uninhabited island that is separated by the Sitkalidak Strait from the far larger Kodiak Island to the west. The nearest town, Old Harbor, is across the strait on Kodiak Island; it has a population of about 200 people.


Ms. Sinclair said the coast where the Kulluk ran aground has a combination of rocky and sandy terrain.


Earlier Monday, a Shell spokesman had said that the rig had been brought under control after towlines were reconnected to two ships during a break in what had been several days of extremely rough seas and high winds.


But late Monday afternoon the line from one of the ships, the Aiviq, became separated. Then several hours later, the other ship, the Alert, was ordered to disconnect its towline, out of concern for the safety of the ship’s nine-person crew. At the time, Ms. Sinclair said, swells were as high as 35 feet and winds were gusting up to 65 miles an hour.


The Kulluk, one of two rigs that Shell used to drill test wells off the North Slope of Alaska as part of the company’s ambitious and expensive effort to open Arctic waters to oil production, was being towed by the Aiviq to a Seattle shipyard for off-season maintenance when the towline initially separated during a storm on Thursday.


The Aiviq then lost power, and other support ships and a Coast Guard cutter were brought in to help with engine repairs and to reconnect towlines to the Kulluk, which does not have its own propulsion system. The 18 workers aboard the rig were evacuated by Coast Guard helicopters on Saturday.


Over the weekend, support crews struggled in 25-foot swells to reconnect towlines, succeeding several times. But each time the lines separated again, leaving the rig in danger of drifting toward land.


The Kulluk, which was built in Japan in 1983 and upgraded over the past six years at a cost of $292 million, is designed for icy conditions in the Arctic. It can drill in up to 400 feet of water and up to 20,000 feet deep. During drilling season it carries a crew of about 140 people, Mr. Smith said.


Shell has spent six years and more than $4 billion in its effort to drill in Arctic waters, one of the last untapped oil-producing regions in the United States. But the effort has faced regulatory hurdles and opposition from American Indian and environmental groups.


Last summer, the Kulluk drilled a shallow test well in the Beaufort Sea while another rig drilled a similar hole in the Chukchi Sea to the west.


But Shell announced in September that it would be forced to delay further drilling until this year after a specialized piece of equipment designed to contain oil from a spill was damaged in a testing accident.


The episode was one of a number of setbacks for the Arctic drilling program last year.


Shell now says it hopes to drill five exploratory wells in the region during the 2013 drilling season, which begins in mid-July.


Read More..

12 Foreign Stories From 2012 Worth Revisiting


Tyler Hicks/The New York Times







There were hundreds of memorable foreign stories from Times correspondents in 2012. Here is a sampling of 12 from across the world in reverse chronological order




1. For Congo Children, Food Today Means None Tomorrow


KINSHASA, Democratic Republic of Congo — Today, the big children will eat, Cynthia, 15, and Guellor, 13. Tomorrow, it will be the turn of the little ones, Bénédicte, Josiane and Manassé, 3, 6, and 9.


2. Dublin Journal: Not Worth the Paper It’s Built On


DUBLIN — As an emblem of the modern Irish condition, Frank Buckley is almost too apt. Dead broke, he lives in a house made of money.


3. American Children, Now Struggling to Adjust to Life in Mexico



Shaul Schwarz for The New York Times



IZÚCAR DE MATAMOROS, Mexico — Jeffrey Isidoro sat near the door of his fifth-grade classroom here in central Mexico, staring outside through designer glasses that, like his Nike sneakers and Nike backpack, signaled a life lived almost entirely in the United States. His parents are at home in Mexico. Jeffrey is lost.


4. Egypt’s Everywoman Finds Her Place Is in the Presidential Palace


CAIRO — Naglaa Ali Mahmoud wears an Islamic head covering that drapes down to her knees, did not attend college and never took her husband’s last name, because that is a Western convention that few Egyptians follow. She also refuses the title of first lady, in favor of simply Um Ahmed, a traditional nickname that identifies her as the mother of Ahmed, her eldest son.


5. A Superstar Televangelist in Pakistan Divides, Then Repents



Diego Ibarra Sanchez for The New York Times



KARACHI, Pakistan — THE audience erupted as Aamir Liaquat Hussain, Pakistan’s premier televangelist, darted around the television studio, firing off questions about Islam. “How many gates are there to heaven?” he challenged.


6. Elephants Dying in Epic Frenzy as Ivory Fuels Wars and Profits


GARAMBA NATIONAL PARK, Democratic Republic of Congo — In 30 years of fighting poachers, Paul Onyango had never seen anything like this. Twenty-two dead elephants, including several very young ones, clumped together on the open savanna, many killed by a single bullet to the top of the head.


7. Young Lives, Lost in the Fog of War


KABUL, Afghanistan — These days, Abdul Farhad tries to sleep with the lights on in his bedroom and his eyes wide open, because as soon as he closes them he is back in his shop in central Kabul and it is 11:30 a.m. on the eighth of September.


8. Corruption Is Seen as a Drain on Italy’s South



Gianni Cipriano for The New York Times



REGGIO CALABRIA, Italy — Italy’s A3 highway, begun in the 1960s and still not finished, starts outside Naples in the ancient hill town of Salerno and ends, rather unceremoniously, 300 miles farther south as a local street in downtown Reggio Calabria.


9. Reporting a Fearful Rift Between Afghans and Americans


SISAY OUTPOST, Afghanistan — How far is Kabul from the war? These days, if you drive south or west, no more than an hour and a half. You can go and be back for dinner — if you aren’t kidnapped or blown up.


10. Billions in Hidden Riches for Family of Chinese Leader


BEIJINGThe mother of China’s prime minister was a schoolteacher in northern China. His father was ordered to tend pigs in one of Mao’s political campaigns. And during childhood, “my family was extremely poor,” the prime minister, Wen Jiabao, said in a speech.


11. Long Retired, Ex-Leader of China Asserts Sway Over Top Posts


BEIJING — In a year of scandals and corruption charges at the commanding heights of the Communist Party, a retired party chief some had written off as a spent force has thrust himself back into China’s most important political decisions and emerged as a dominant figure shaping the future leadership.


12. Horrific Fire Revealed a Gap in Safety for Global Brands



ASHULIA, Bangladesh — The fire alarm shattered the monotony of the Tazreen Fashions factory. Hundreds of seamstresses looked up from their machines, startled. On the third floor, Shima Akhter Pakhi had been stitching hoods onto fleece jackets. Now she ran to a staircase.


Read More..

Redskins win NFC East, Broncos get top seed in AFC


RG3 and the Washington Redskins are heading to the playoffs as NFC East champions.


By winning their seventh straight game, the Redskins rolled to their first division title in 13 years with a 28-18 victory over the Dallas Cowboys on Sunday night. Next up for Robert Griffin III & Co.: a home playoff matchup next Sunday with the Seahawks — the third straight postseason game for Washington against Seattle.


"It's just a mindset change," the rookie quarterback said. "When you have all these guys coming to work every day, putting it on the line, we knew we couldn't afford to lose one game, we made sure we didn't"


Thanks to Houston's late-season slump, Denver and New England will have byes when the AFC playoffs begin next week.


The Texans fell from first to third in the conference Sunday when they lost 28-16 at Indianapolis, which welcomed back coach Chuck Pagano after nearly three months of treatments for leukemia.


AFC West champion Denver won its 11th straight game, 38-3 over Kansas City to secure the top seed. New England blanked Miami 28-0 for the second spot.


Minnesota edged Green Bay 37-34 to grab the final NFC wild card, sinking the Packers to the third seed. Those teams will meet again next Saturday night at Lambeau Field.


The other NFC matchup will have Seattle (11-5), which beat St. Louis 20-13, at Washington on Sunday at 4:30 p.m. ET.


Cincinnati (10-6) will be at Houston on Saturday at 4:30 p.m. ET, and Indianapolis (11-5) goes to at Baltimore (10-6) on Sunday at 1 p.m. in the AFC wild-card rounds.


The divisional round games will be hosted by Denver on Saturday, Jan. 12, followed by San Francisco (11-4-1) at night. On Sunday, Jan. 13, Atlanta (13-3) will host the early game, followed by New England (12-4).


Peyton Manning threw for three touchdowns as Denver (13-3) routed the Chiefs. New England got the second seed despite having the same record as Houston because it beat the Texans, who lost three of their final four games.


Adrian Peterson had 199 yards against the Packers, finishing with 2,097 — Dickerson's single-season rushing mark in 2,105. But it was rookie kicker Blair Walsh who won it with a 29-yard field goal as time expired.


"Ultimately we got the 'W,'" Peterson said. "I told myself to come into this game focused on one thing, and that's winning."


Green Bay would have been seeded second in the NFC by beating Minnesota.


"The road got a little tougher having to play on opening weekend, but we've got a home game and that's why you win the division," Aaron Rodgers said. "We get to go back home, and the game will be different. They won't have home-crowd advantage, and hopefully that will make a difference."


Baltimore Pro Bowl safety Ed Reed is looking forward to a reunion with Pagano. He wishes it would come a little later in the postseason.


"Chuck's like a dad to me," Reed said "He means a lot to me. I would have much rather seen them in the AFC championship game than the first game."


But Reed will see him next week at Baltimore.


The Ravens had a chance to move up to the AFC's third seed with a win and a New England loss. But Baltimore lost at Cincinnati as both teams played backups for much of the game.


Pagano coached the Ravens' secondary for three seasons and was promoted to coordinator last year. Players and coaches in Baltimore have kept in touch, offering encouragement as he fought through the cancer treatments.


"Going back to Baltimore, obviously there's some familiarity there," Pagano said. "We had four great years there as a family. It's a top-notch organization, you know, really good football club. It's a great challenge and they have a great team and they have great players all over the place."


The Colts were 2-14 last season and chose quarterback Andrew Luck with the top selection in the draft. Luck and offensive coordinator Bruce Arians, who stepped in as interim coach with Pagano sidelined, led the turnaround.


Next week, Pagano goes up against former boss John Harbaugh.


"I love his family, and he's one of my closest personal friends in coaching," Harbaugh said. "What he's been through is phenomenal, but we're all competitors so that gets set aside."


Houston beat Cincinnati in the opening round of last year's playoffs.


"I think it will be good," said Bengals QB Andy Dalton, who grew up in suburban Houston. "We played there last year and know the atmosphere and what it's going to be like. The experience last year will definitely help us."


The defending Super Bowl champion Giants are out of contention. When Chicago beat Detroit 26-24, the Giants (9-7) were eliminated, even though they routed Philadelphia 42-7.


"It hurts," said Eli Manning. "Each year you want to make the playoffs to give yourself an opportunity to win a championship; 9-7 last year was good enough. It wasn't good enough this year and we knew it wouldn't be."


Minnesota's win eliminated Chicago.


___


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


Read More..

F.D.A. Approves Sirturo, a New Tuberculosis Drug





The Food and Drug Administration announced on Monday that it had approved a new treatment for multidrug-resistant tuberculosis that can be used as an alternative when other drugs fail.




The drug, to be called Sirturo, was discovered by scientists at Janssen, the pharmaceuticals unit of Johnson & Johnson, and is the first in a new class of drugs that aims to treat the drug-resistant strain of the disease.


Tuberculosis is a highly infectious disease that is transmitted through the air and usually affects the lungs but can also affect other parts of the body, including the brain and kidneys. It is considered one of the world’s most serious public health threats. Although rare in the United States, multidrug-resistant tuberculosis is a growing problem elsewhere in the world, especially in poorer countries. About 12 million people worldwide had tuberculosis in 2011, according to Johnson & Johnson, and about 630,000 had multidrug-resistant TB.


A study in September in The Lancet found that almost 44 percent of patients with tuberculosis in countries like Russia, Peru and Thailand showed resistance to at least one second-line drug, or a medicine used after another drug had already failed.


Treating drug-resistant tuberculosis can take years and can cost 200 times as much as treating the ordinary form of the disease


“This is quite a milestone in the story of therapy for TB,” Dr. Paul Stoffels, the chief scientific officer at Johnson & Johnson, said in an interview. He said the approval was the first time in 40 years that the agency had approved a drug that attacked tuberculosis in a different way from the current treatments on the market. Sirturo works by inhibiting an enzyme needed by the tuberculosis bacteria to replicate and spread throughout the body.


Sirturo, also known as bedaquiline, would be used on top of the standard treatment, which is a combination of several drugs. Patients with drug-resistant tuberculosis often must be treated for 18 to 24 months.


Even as it announced the approval, however, the F.D.A. also issued some words of caution.


“Multidrug-resistant tuberculosis poses a serious health threat throughout the world, and Sirturo provides much-needed treatment for patients who have don’t have other therapeutic options available,” Edward Cox, director of the office of antimicrobial products in the F.D.A.’s center for drug evaluation and research, said in a statement. “However, because the drug also carries some significant risks, doctors should make sure they use it appropriately and only in patients who don’t have other treatment options.”


The consumer advocacy group Public Citizen opposed approval in a letter to the F.D.A. in mid-December, saying that the results of a limited clinical trial showed that patients using bedaquiline were five times as likely to die than those on the standard drug regimen to treat the disease.


“Given that bedaquiline belongs to an entirely new class of drugs, it is entirely feasible that death in some cases was due to some unmeasured toxicity of the drug,” the letter said.


Sirturo carries a so-called black box warning for patients and health care professionals that the drug can affect the heart’s electrical activity, which could lead to an abnormal and potentially fatal heart rhythm. The warning also notes deaths in patients treated with Sirturo. Nine patients who received Sirturo died compared with two patients who received a placebo. Five of the deaths in the Sirturo group and all of the deaths in the placebo arm seemed to be related to tuberculosis, but no consistent reason for the deaths in the remaining Sirturo-treated patients could be identified.


Doctors Without Borders and the Bill and Melinda Gates Foundation, both active in the fight against tuberculosis and other global diseases, applauded the F.D.A.’s decision.


Jan Gheuens, interim director of the TB Program for the Gates Foundation, called it a “long-awaited event” and said the fight against TB had not benefited from new drugs in the way H.I.V. had. Beyond the benefits of the drug itself, he said the quick approval process could be a model for other drugs sorely needed in the developing world.


He also suggested, however, that more trials should be conducted to get a better understanding of the side effects that led to the black box warning.


The F.D.A. approved bedaquiline under an accelerated program that allows the agency to conditionally approve drugs that are viewed as filling unmet medical needs with less than the usual evidence that they work. The drug’s approval was based on studies that showed it killed bacteria more quickly than a control group taking the standard regimen, but it did not measure whether in the end patients actually fared better on bedaquiline. Johnson & Johnson will conduct larger clinical trials to investigate whether the drug performs as predicted.


In a statement responding to Public Citizen’s letter, a spokeswoman for Johnson & Johnson said the company was committed to supporting appropriate use of Sirturo and would “work to ensure Sirturo is used only where treatment alternatives are not available.”


Dr. Stoffels said the hope was that other new tuberculosis drugs would also be approved that, when used in combination with bedaquiline, could shorten and simplify the current standard of treatment. “That is still a long time away,” he acknowledged, but “this is a first step in a new regimen for TB.”


Read More..

Big in 2012, but the Future Is Hazy for Bonds


The big story in the markets this year was not about stocks.


Americans sold off their stock mutual funds, the most popular way to invest in American companies, at the fastest clip since 2008, the year the financial crisis began. That occurred despite the fact that the stock market itself rose steadily; the benchmark Standard & Poor’s 500-stock index ended the year up 13.4 percent.


Investors have been opting instead for the assumed safety of bonds. Money has been steadily flowing into mutual funds holding bonds of all sorts for the last four years, but the pace accelerated this year. The percentage of household investments in bonds shot up to 26 percent from 14 percent just five years ago, according to Morningstar.


Entering the new year, a growing number of professional investors are betting that the craze for bonds has gone too far, perhaps dangerously so, as has been evident in the headlines from the year-end reports from large investment firms. “Bond PAIN in 2013?” Wells Capital Management’s chief strategist asked. “Caution: Turn Ahead,” BlackRock analysts wrote. “The inflection year,” said Bank of America.


This is not the first time that analysts have forecast an end to the decades-long rally in bond values. But previously many of the voices predicting it were pessimists who believed that investors would sell off their bonds when they lost faith in the American government’s ability to pay back its bonds, forcing the government and many other bond issuers to pay higher interest rates. When interest rates rise, older bonds with lower interest rates are worth less.


While those previous forecasts have proved expensively wrong, this year the forecasters are being joined by many economic optimists who argue that a strengthening American economy is likely to make investors willing to embrace the risks involved in stocks, luring them out of bonds. The question, they say, is only how quickly it will happen.


“Mathematically, it’s next to impossible to get the kind of returns on bonds you’ve seen over the last few years,” said Kate Moore, the chief global equity strategist at Bank of America.


When the turn does ultimately come, it is likely to cause pain for at least some of the people who have been investing in bonds in recent years.


“You don’t want to be the last one out the door when the trends turn,” said Rebecca H. Patterson, the chief investment strategist at Bessemer Trust. “All good things come to an end and we want to make sure we’re in front of it.”


Most of the talk of investors shifting money from bonds into stocks relies first on the assumption that politicians in Washington are able to resolve the current impasse over the so-called fiscal cliff, the automatic spending cuts and tax increases that will go into effect if Congress and President Obama cannot come to an agreement, and the coming debate over the nation’s debt ceiling. If the political discord continues, it could renew investor attraction to the safety of bonds and put off any shift into stocks.


But a number of surveys suggest that professional investors are already starting to prepare for a change. Hedge funds polled by Bank of America said that they had more of their portfolio allocated to stocks than at any time since 2006.


All but one of the 13 bank strategists tracked by Birinyi Associates expects stock markets to rise in 2013. When 2012 began, the same strategists were predicting a downturn in share prices. Even among mutual fund investors, there are signs that the flows out of stocks and into bonds have been slowing down recently.


The preference for bonds has already been costly for retail investors. Over the last year, most types of American bonds have returned less than an investment in the S.&. P. 500. When inflation is factored in, the benchmark 10-year Treasury security is delivering negative returns.


But many investors are still rattled by the 2008 financial crisis and the turbulence in the stock markets since then, which have led to wild swings. Over the last five years, all major types of American bonds have done better than leading stock indexes.


The Federal Reserve has been engaged in an aggressive effort to buy bonds and drive down interest rates. The long term goal of that program is to encourage banks to lend money and to drive investors out of bonds. But in the meantime, falling interest rates have made bonds more attractive. The Fed has said it wants to keep rates low until 2015, though it could let them rise sooner if the economy picks up faster than expected. The 10-year Treasury hovered near 4 percent in recent years but has stayed below 2 percent for much of 2012.


Read More..

IHT Rendezvous: Republicans Consider Changing Electoral Vote Counting to Improve Presidential Odds

WASHINGTON — Not too long ago, political analysts assumed the Republicans had a clear advantage in the Electoral College, the system according to which each state, based on population, is given electors that in almost all cases are awarded on a winner-take-all basis, determining who will be the president of the United States. Today, it’s the Democrats who have the edge.

Page Two

Posts written by the IHT’s Page Two columnists.

Start by looking at the past seven presidential elections, three won by Republicans, four by Democrats. Then put most states that went for one party in five of these seven elections into the red column for Republican, blue for Democrat and purple or toss-up for the others.

Three are caveats: North Carolina and Virginia voted Republican until recently; the trends, however, are so pronounced that they are more purple than red. Conversely, West Virginia voted Democratic in three of these contests, but has moved safely into the red ranks.

BLUE: The District of Columbia and 20 states, mainly on the coasts and in the progressive upper Midwest, with 256 electoral votes, are the Democrats’ base.

RED: 23 states, with 188 electoral votes, including much of the South, the Plains and Rocky Mountains states, are reliably Republican.

There are seven purple states — Florida, Ohio, North Carolina, Virginia, Colorado, Nevada and New Hampshire — with 94 electoral votes.

The upshot: In any normal election cycle, the Republicans have to win Florida and Ohio and at least three of the other five. Or they have to turn around some blue states, such as Pennsylvania and Iowa.

In the my latest Left From Washington, I write about how some Republicans
in states where Republicans control the state government are considering changing how those states assign their electoral votes, instead of the winner-take-all system used in most states, they would emulate Maine and Nebraska, where some of the state’s electoral votes are awarded based on which presidential candidate carried a district.

As I write:

They see a possible test case in Pennsylvania, where Mr. Obama won the popular vote by more than five percentage points, rolling up huge margins in Philadelphia and its suburbs and in Pittsburgh. Mr. Romney, however, carried 13 of the 18 congressional districts. If this new system were in effect, the Republicans would have gotten 13 of the state’s 20 electoral votes while getting trounced in the popular vote. If this occurred in mainly Republican states, it would erase the Democrats’ Electoral College advantage.

Politics do shift. In 1988, the Republicans won California, Michigan, Pennsylvania, New Mexico, Connecticut, Maryland and Vermont; all now are considered safely part of the blue base.

Read More..

Purported photo of new BlackBerry phone with QWERTY keyboard leaks









Title Post: Purported photo of new BlackBerry phone with QWERTY keyboard leaks
Rating:
100%

based on 99998 ratings.
5 user reviews.
Author: Fluser SeoLink
Thanks for visiting the blog, If any criticism and suggestions please leave a comment




Read More..

Adrian Peterson tops 2,000 yards


MINNEAPOLIS (AP) — Adrian Peterson's remarkable comeback season now has a magic number to punctuate it.


Peterson became the seventh player to rush for 2,000 yards in a season, plowing through the Green Bay Packers for a 20-yard gain that put him over the top in the third quarter Sunday.


Peterson entered the game needing 102 yards to join O.J. Simpson, Eric Dickerson, Barry Sanders, Terrell Davis, Jamal Lewis and Chris Johnson in the 2,000-yard club. Peterson is the only one to do it after reconstructive knee surgery.


Dickerson's single-season record of 2,105 yards set in 1984 isn't far out of reach, either. Peterson needed 208 yards when the day began, and was 64 yard away as the fourth quarter approached.


The Vikings punted a few plays after Peterson's big run, and the crowd gave him a standing ovation when the achievement was announced. Peterson took it all in stride, waving politely, but otherwise not making anything special out of it in a game the Vikings needed to win to make the playoffs. He simply didn't have time to reflect on the long, arduous path it took for him to get there after tearing the ACL in his left knee.


It was only last December when Peterson crumpled to the turf in Washington, two ligaments torn, leaving many to wonder if his career would ever be the same.


Well, it hasn't been.


Peterson vowed from the very beginning to return better than ever from an injury that has ended the careers of so many before him. There weren't many believers, including in his own locker room.


But a combination of uncommon genetics, unshakable determination and a smart rehabilitation plan from Vikings athletic trainer Eric Sugarman had Peterson back in the starting lineup on opening day.


Peterson scored two touchdowns in the opener, but didn't top 100 yards in a game until Week 4 when he went for 102 against the Lions. As the season went on, the scar tissue in his knee started to break up and Peterson took off like a purple rocket.


His cuts are sharper, his vision better, his patience is making the difference between a 4-yard plunge through the line and a 40-yard dash down the sideline.


He went on a breathtaking eight-game run, amassing 1,313 yards and topping 200 yards twice in four games to vault into the MVP discussion and make 2,000 yards a possibility.


When asked this week to describe his running style in one word, Peterson replied: "Vicious."


That certainly sums it up.


He got off to a fast start with 61 yards and a touchdown on the first two drives, hearing chants of "MVP! MVP!" just before he surged into the end zone for a 7-yard score and a 10-0 Vikings lead. He also had runs of 12 and 21 yards early to get the Vikings going in this win-and-they're-in game.


The Vikings have followed Peterson's lead, needing a victory over the Packers on Sunday to get into the playoffs in what most observers expected to be a rebuilding year. Peterson has carried the offense on his broad shoulders, turning the Vikings into a throwback attack that relies almost exclusively on the run for its big plays.


With second-year quarterback Christian Ponder going through some highs and lows, and the Vikings missing top receiver Percy Harvin with an ankle injury, the passing offense has ranked last in the league. Peterson is averaging more yards per rush than Ponder does per pass and his seven rushes of 50 yards tied him with Sanders in 1997 for the NFL record.


All the while, Peterson has said he'd take the first postseason berth in three years over 2,000 yards any day. But it was no secret that the individual achievement was important to him.


Unlike baseball, the NFL has few numbers that immediately grab the public's attention. One of those is 2,000 yards, especially in this new pass-happy league. Peterson entered the game with 1,898 yards, more than 400 better than Seattle's Marshawn Lynch, who was in second place.


"I definitely want to keep the running backs highlighted," Peterson said this week. "It's started to turn into more of a spread, quarterback-friendly NFL. But just keep letting them know that there are going to be running backs that can do this."


___


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


Read More..