Rally fades as fears of Washington gridlock return

Wall Street is peering over the “fiscal cliff” and feeling vertigo.

The stock market finished one of the worst weeks of the year Friday, pushing Washington to work out a deal to avoid the tax increases and government spending cuts set to take effect Jan. 1.

Remarks by re-elected President Barack Obama and House Speaker John Boehner on the looming deadline didn't do much to cheer the market. Stocks finished barely higher for the day.

Chris Bertelsen, the chief investment officer at Global Financial Private Capital of Sarasota, Fla., said he expects Congress and Obama to reach a compromise to avoid the fiscal cliff.

“But it could well be the conventional U.S. political way of doing it — the last minute type of stuff — in which case the markets will be haunted by it until the point it happens,” he said.

For the week, the Dow Jones industrial average fell 277 points, or 2.1 percent. The Dow has fallen 795 points since hitting its closing high for the year, 13,610 on Oct. 5.

The S&P fell 2.3 percent during the week, its worst weekly decline since June 1, when investor concern about the debt crisis in Europe was rising.

Stocks began their slide Wednesday in the biggest sell-off of the year after voters returned Obama, a Democratic Senate and a Republican House to power. Investors immediately turned to worrying about the cliff.

If the tax increases and spending cuts take full effect, the U.S. will likely fall back into recession, the Congressional Budget Office said Thursday.

Boehner said Friday that he remains unwilling to raise tax rates on upper-income earners. But he left open the possibility of balancing spending cuts with revenue increases that come from some revisions to the tax code.

Stocks managed a small rally. The Dow was up about 30 points when Boehner started talking and about 80 points shortly after.

Then Obama said he would not accept any approach to federal deficit reduction that doesn't ask the wealthy to pay more in taxes. A spokesman later said Obama would veto legislation extending tax cuts for families making $250,000 or more.

The Dow began sliding just before Obama spoke, at 1 p.m., and had lost its gain for the day by 1:30.

As they head into talks with Obama next week on the fiscal cliff, congressional leaders no doubt remember what can happen on Wall Street when investors are worried and watching Washington's every move.

In September 2008, at the depths of the financial crisis, the House defeated a $700 billion emergency rescue of the nation's financial system, sending the Dow plunging 777 points.

The Dow also slid for eight straight days in the summer of 2011 as politicians squabbled over a deal to raise the nation's federal borrowing limit before eventually reaching an accord Aug. 1.

The index slipped as much as 634 points between July 27 as the political bickering intensified and Aug. 5, when S&P downgraded the national credit rating, citing the weakening of U.S. political institutions as a reason for the cut.

On Friday, stocks pared losses as investors took encouragement about the economy from a report by the University of Michigan showing that consumer confidence rose more than expected in November.

The Dow finished up 4.07 points at 12,815.39. The S&P advanced 2.34 points to 1,379.85, and the Nasdaq composite gained 9.29 points to 9,204.87.

Stocks are well below the highs of this year. The S&P is down 5.5 percent from its peak of 1,465 in September, when the Federal Reserve announced a third round of a bond-buying program intended to hold down borrowing costs.

The dimming outlook for Europe also weighed on markets this week. The European Commission, the executive arm of the European Union, cut its forecast for economic growth in the region Wednesday.

The yield on the 10-year Treasury note was little changed at 1.62 percent compared with 1.61 percent late Thursday. The yield on the benchmark government security has tumbled from as much as 1.84 percent Sept. 17, as investor aversion to risk has grown. Treasury yields fall as investor demand pushes up prices.

Among other stocks making big moves:

— Walt Disney fell $2.98, or 6 percent, to $47.06 after it said that advertising sales were flat at its ESPN unit, raising concern about the outlook for growth.

— Online deals company Groupon slumped $1.16, almost 30 percent, to $2.76 after it disclosed late Thursday that it was hurt by the economic problems in Europe and growth failed to meet expectations.

— J.C. Penney dropped $1.05 cents, or 4.8 percent, to $20.64 after the company reported a loss that was larger than investors were expecting. Shoppers have been abandoning the store after it got rid of blockbuster sales in favor of everyday low prices.

— Kayak Software surged $8.63, or 28 percent, to $39.67 after the company said it had agreed to be bought by rival travel website Priceline.com.

Read More..

New York Gov. Andrew Cuomo: Nor'easter made 'bad situation worse'

A powerful nor'easter has knocked out electricity to at least 60,000 homes and businesses in the New York City area. The winter storm brought rain, strong winds and snow to the same region affected by superstorm Sandy.

By Shashank Bengali and Joseph Serna

November 8, 2012, 2:31 p.m.

NEW YORK -- The double hit of Superstorm Sandy and an early season nor’easter could cost New York state up to $33 billion, said Gov. Andrew Cuomo, who called utility companies' response to the emergency a “failure.”

Nearly 300,000 New Yorkers still had no electricity Thursday morning, and about a third of metropolitan New York’s gas stations do not have gas. A nor’easter storm that brought high winds, freezing temperatures and piles of snow has slowed the region’s recovery effort and made a “bad situation worse,” Cuomo said at a televised news conference.

The cost of coming back – from Maine to the Carolinas and inland to the Ohio Valley – could reach $50 billion, he estimated.

';



jQuery(document).ready(function(){
jQuery('#story-body-text').append(muskalsig);
});

PHOTOS: Sandy's devastation on the East Coast

Then and now: Devastation from Hurricane Sandy

FULL COVERAGE: Super storm Sandy hammers Northeast

As cold sets in, East Coast tackles post-Sandy housing crisis

The science behind Hurricane Sandy: a confluence of trouble

See more stories »

Sandy highlighted the vulnerabilities of the state’s electrical grid and oil commerce, Cuomo said.

FULL COVERAGE: East Coast hit by deadly storm

“I believe they were unprepared, I believe the system is archaic,” Cuomo said of the utility companies. “Part of it is the fact these utilities are a monopoly. You’re unhappy with a utility company, who do you fire? It’s a nameless, faceless bureaucracy.”

Representatives from National Grid U.S. and the Long Island Power Authority, two major New York utilities, did not immediately return calls for comment.

A spokeswoman for Con Edison, which supplies all of New York City, said “our focus continues on our massive and unprecedented restoration effort. We appreciate the state’s leadership and assistance.”

The powerful Sandy devastated seaside towns in New Jersey and New York, was responsible for more than 110 deaths and forced the shutdown of oil refineries and terminals in the region.

Thousands of utility workers from companies across the country have flown into the region to help repair the power grid, where local utility companies have been using up months-worth of stored equipment in days. Long Island, one of the hardest hit areas from the two storms, has thousands without electricity. It could be days if not another week at least before power is back.

The Long Island Power Authority reported that repairs were slowed because of the nor’easter, and crews have to go house to house assessing the damage before reconnecting utilities.

“They ran out of power poles. You think poles would be something a utility company would want to have,” Cuomo snapped at the news conference. “They have failed consumers. The management has failed consumers. It is that simple…. We gave them a franchise. They represented themselves as experts at doing this and they failed and they should be held accountable for their failure.”

Residents there have started an online petition to have the state end its contract with the Long Island Power Authority.

INTERACTIVE: Before and after Sandy

Relief agencies that were forced to shutter operations in Wednesday’s nor’easter reopened in sunny but brisk conditions Thursday afternoon in Staten Island, hard-hit by Sandy.

Before four inches of snow fell in the Staten Island beach-side community of New Dorp, the Federal Emergency Management Agency abandoned a tent where it had been seeing about 300 claim applicants a day, said Clete Strayer, manager of the agency’s disaster recovery center here.

On Thursday, next to a snow-crusted field, Sandy victims again lined up for relief supplies, warm meals and insurance consultations as FEMA staff reinstalled tables and heating units to resume work. 

“We’re fine if Mother Nature leaves us alone,” Strayer said.

If the snow was a nuisance for relief operations, it was not as bad as many weather-worn residents had feared.

Cuomo said it will take months to get New York back to normal. Restoring power and reconnecting the veins of oil distribution are the short-term issues. But New Yorkers are going to have to rethink about how ruined towns should be rebuilt, he said.

Read More..

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)

Read More..

Marilyn Monroe photos on auction in Poland

WARSAW, Poland (AP) — Who doesn't want a picture of Marilyn Monroe?

Hundreds of photographs of the blonde bombshell and other celebrities, including famous ones of Monroe in bed and as a ballerina, were being sold Thursday evening at an auction house in Poland.

Bidders and spectators packed the Desa Unicum house in Warsaw, where 238 pictures by the late American fashion and celebrity photographer Milton H. Greene were up for sale.

Most of these pictures of Monroe were taken from 1953 to 1957 when Greene was her advisor and business partner. He made many of the prints during Monroe's lifetime and they are highly valued by collectors.

As the bidding began, a black-and-white photo of a reclining Monroe in black stockings sold for 50,000 zlotys ($16,000), and another of her in a ballerina's dress sold for almost $20,000. A picture of her in bed sold for 26,000 zlotys ($13,000.)

The auction also offered Greene's pictures of Audrey Hepburn, Grace Kelly and Liza Minnelli. Other greats in the vast portrait collection, which was estimated at $680,000, included Cary Grant, Frank Sinatra, Marlene Dietrich, Paul Newman, Alfred Hitchcock and Marlon Brando.

The photos come from a collection of some 4,000 Greene pictures that Poland obtained from Chicago businessman Dino Matingas in the mid-1990s as the result of a complex communist-era embezzlement scandal linked to the buy-out of Poland's state debt. Proceeds from the auction will go to the Polish government.

Some of the images have never been published before, according to Marta Maciazek, the Polish official in charge of cleaning up the mess from the corruption affair.

Read More..

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.

Read More..

Priceline.com to grow travel empire with $1.8-billion Kayak offer

Kayak helps travelers compare the cost of flights on hundreds of travel websites. (Eric Kayne / AP Photo / Houston Chronicle)

By Jessica Guynn

November 8, 2012, 2:03 p.m.

SAN FRANCISCO -- Looking to expand its travel empire in a sluggish economy, Priceline.com plans to buy its younger, fleet-footed competitor Kayak Software in a $1.8-billion deal.

Priceline, which was welped during the dot-com boom but has grown into the world's most valuable online travel agency, said Thursday it has offered to buy Kayak for $40 a share. That’s a 29% premium on Thursday’s closing price of $31.04.

The move was seen as a way to grow its business at a time when it has been tougher to land new customers and it has been fighting off new rivals.

 Kayak is a break-out company from the latest Internet boom and raised $91 million in an initial public offering in July. It has a slew of deep-pocketed competitors, including Google Inc. as well as up-and-comers such as Hipmunk.

The boards of each company have signed off on the deal, but it still must be approved by shareholders and regulators. It’s expected to close in the first quarter of 2013.

Priceline said Thursday it has offered $500 million in cash and $1.3 billion in stock. It also said that Kayak would continue to operate independently under the Priceline umbrella. Kayak helps travelers compare flights, hotels and rental cars on hundreds of travel websites.

The announcement was made after the markets closed. Priceline stock fell more than 2% in after-hours trading.

But travelers won't be bidding bon voyage to Kayak. Kayak Chief Executive Steve Hafner said the acquisition would help accelerate his company’s growth.

Kayak's stock has risen since its IPO. The company, which was founded in 2004 and has influential backers including well-known venture capital firm Sequoia Capital, took years to go public. It originally filed in 2010.

Hafner and the company's chief technology officer Paul English held a combined 16% voting power as of July.

ALSO:

Social media turn election night into a conversation

Pope to tweet one message a day for 40 days of #Lent

Pope Benedict XVI to tweet from personal Twitter account #cool

Follow me on Twitter @jguynn

Read More..

Time to bury two election myths

With the election over and the votes counted, we now have data to refute a couple of persistent electoral myths -- one involving economics, the other polling.

Myth One: “No president has been reelected with an unemployment rate higher than ... .” This hoary notion never made much sense. Put the unemployment rate and the incumbent’s vote percentage on a graph and you can immediately see that the two bear almost no relationship to each other.

Two main reasons explain this. One is that the unemployment rate sometimes goes up when times are getting better and down when things get worse. As an economy improves, more people start looking for work, sometimes leading to a temporary increase in the unemployment rate; conversely, when things get worse and discouraged workers drop out of the market, the rate can drop.

LIVE ANALYSIS: The Times breaks down Election Day

The other reason is that voters respond much more to the direction of change than they do to the status quo. In other words, whether voters perceive the economy as getting better or worse matters more than the economy’s absolute level. And the number of jobs created in the economy provides a much better measure than the unemployment rate.

Myth Two: “In an equally divided country, self-identified Democrats and Republicans should be roughly equal in polls.” This misconception launched a thousand debates over whether published polls were “skewed” in favor of Democrats. It also caused some Republican pollsters to fool themselves -- and presumably their clients -- by weighting poll results to match a preconceived idea of what the balance between the two parties “should” be.

In the end, the election returns proved them wrong. As exit polls showed, voters who identified themselves as Democrats outnumbered those who identified as Republicans 38% to 32% this year, about the same margin that the major pre-election polls showed.

Asking voters which party they identify with is one of the most important parts of any poll. Pollsters use party identification to analyze other data, looking at how self-identified Democrats and Republicans view issues differently. And, of course, party identification powerfully predicts voting behavior. Republicans who weighted their polls to narrow the partisan gap ended up producing results that made Mitt Romney and other GOP candidates appear to be in better shape than they were.

PHOTOS: America goes to the polls

Of course, those pollsters didn’t set out to fool themselves. They were trying to solve a riddle: If Democrats and Republicans are close to parity in the results -- President Obama ended up beating Romney by about 2 percentage points in the popular vote -- how can Democrats have a six-point edge in party identification?

The answer is actually pretty simple. Over the last decade, a significant number of people who vote for Republicans have stopped identifying themselves as Republicans. That includes a lot of ardent conservatives. Instead of calling themselves Republicans, those voters now identify as independents. No similar movement has taken place among Democrats.

As a result, the group of voters who identify as independent no longer sits at the center of the political spectrum. Instead, independents heavily tilt toward the Republicans. Polls that take those independents into account and then weight their results to show more Republicans are, in effect, double counting.

The other result of that shift: A Democrat no longer has to win independents to gain a majority. Indeed, Obama lost self-identified independents by five points, 45% to 50%, according to the exit polls. He beat Romney 56% to 41% among voters who identified themselves as ideologically “moderate.”

PHOTOS: Paul Ryan's past

Follow Politics Now on Twitter and Facebook

david.lauter@latimes.com

twitter.com/@DavidLauter

Read More..

Apple slides to five-month low, uncertainty grows

'},"otherParams":{"t_e":1,".intl":"US"},"events":{"fetch":{lv:2,"sp":"97570179","ps":"LREC,MON","npv":true,"bg":"#FFFFFF","em":escape('{"site-attribute":"_id=\'6fc6e2e9-b163-3060-b8dd-69df1e64d440\' sensitivity=\'0\' rs=\'lmsid:a0770000002GZ5iAAG\' ctype=\'fn_news;News\' ctopid=\'1499989;1550500;2299500;1507989;1506989;1542500;1550000;1507489;1577000\' can_suppress_ugc=\'1\' content=\'no_expandable;ajax_cert_expandable;\' ADSSA"}'),"em_orig":escape('{"site-attribute":"_id=\'6fc6e2e9-b163-3060-b8dd-69df1e64d440\' sensitivity=\'0\' rs=\'lmsid:a0770000002GZ5iAAG\' ctype=\'fn_news;News\' ctopid=\'1499989;1550500;2299500;1507989;1506989;1542500;1550000;1507489;1577000\' can_suppress_ugc=\'1\' content=\'no_expandable;ajax_cert_expandable;\' ADSSA"}')}}};var _createNodes=function(){var nIds=_conf.nodeIds;for(var i in nIds){var nId=nIds[i];var dId=_conf.destinationMap[nIds[i].replace("yom-","")];n=Y.one("#"+nId);if(n)var center=n.one("center");var node=Y.one("#"+dId);var nodeHTML;if(center && !node){nodeHTML=_conf.nodes[nId];center.insert(nodeHTML);};};};var _prepareNodes=function(){var nIds=_conf.nodeIds;for(var i in nIds){var nId=nIds[i];var dId=_conf.destinationMap[nIds[i].replace("yom-ad-","")];n=Y.one("#"+nId);if(n)var center=n.one("center");var node=Y.one("#"+dId);if(center && node){center.set("innerHTML","");center.insert(node);node.setStyle("display","block");};};};var _darla;var _config=function(){if(YAHOO.ads.darla){_darla = YAHOO.ads.darla;_createNodes();};};var _fetch=function(spaceid,adssa,ps){
if (typeof(ps)!='undefined')
_conf.events.fetch.ps = ps;if(typeof spaceid != "undefined") _conf.events.fetch.sp=spaceid;adssa = (typeof adssa != "undefined" && adssa != null) ? escape(adssa.replace(/\"/g, "'")) : "";_conf.events.fetch.em=_conf.events.fetch.em_orig.replace("ADSSA", adssa);if(_darla){_prepareNodes();_darla.setConfig(_conf);_darla.event("fetch");};};Y.on("domready", function(){_config();});;var that={"fetch":_fetch,"getNodes":_conf.nodes,"getConf":_conf};return that;}();/* Backwards compatibility - Assigning the latest instance to the main fetch function */YUI.PhotoAdsDarla.fetch=YUI.PhotoAdsDarla.photoslightboxdarla.fetch;
});
Y.later(10, this, function() {YAHOO.namespace('Media.Social').Lightbox = {};
});
Y.later(10, this, function() {Y.Media.Article.init();
});
Y.later(10, this, function() {new Y.Media.AuthorBadge();
});
Y.later(10, this, function() {new Y.Media.Branding();
});
Y.later(10, this, function() {Y.on("load", function () {
YUI.namespace("Media.SocialButtons");

var instances = YUI.Media.SocialButtons.instances || [],
globalConf = YAHOO.Media.SocialButtons.conf || {},
vplContainers = [];

Y.all(".ymsb").each(function (node) {
var id = node.get("id"),
conf = YAHOO.Media.SocialButtons.configs[id],
instance;

if (conf) {
instance = new Y.SocialButtons({
srcNode: node,
config: Y.merge(globalConf, conf.config || {}),
contentMetadata: conf.content || {},
tracking: conf.tracking || {}
});
vplContainers.push(
{
selector: "#" + id,
callback: function(node) { instance.render(); instance = conf = id = null; }
});

if (conf.config && conf.config.dynamic) {
instances.push(instance);
}
}
});

Y.Global.Media.ViewportLoader.addContainers(vplContainers);
YUI.Media.SocialButtons.instances = instances;
});
});
Y.later(10, this, function() {if (!Y.Media) {

return;

}

Y.Media.boba_lightbox_module_targets = Y.Media.boba_lightbox_module_targets || {};

Y.Media.boba_lightbox_module_configs = Y.Media.boba_lightbox_module_configs || {};

Y.Media.boba_lightbox_module_dataset = Y.Media.boba_lightbox_module_dataset || {};

Y.Media.boba_lightbox_module_whitelist = Y.Media.boba_lightbox_module_whitelist || {};


Y.Media.boba_lightbox_module_targets['lightboxfb11463e5e719400ca18bc98b9778ce3'] = {"lightboxId":"cdb195a8f28db8cb968141f778323a6b","pivotId":"94bf589f-afdb-3d01-8984-fc68fffb427d"};


Y.Media.boba_lightbox_module_dataset['cdb195a8f28db8cb968141f778323a6b'] = {"spaceid":"97570179","total":1,"photoby":"Photo By","xhrtype":"slideshow","videoconf":{"autoplay":true,"continuousPlay":true,"mute":false,"volume":"1.00","lang":"en-US","site":"news","region":"US","jurisdiction":"US","YVAP":{"accountId":"145","playContext":"default"},"pageSpaceId":"97570179","comscoreC4":"US News","comscoreC6":"","showEmbedCode":true,"showShareUrl":true,"expName":"MediaArticleRelatedLightbox","expType":"inline","apiEnv":"prod"},"slideshow_id":null,"slideshow_title":null,"slideshow_title_baked_html":null,"slideshow_desc":null,"slideshow_rev":null,"slideshow_plink_vita":null,"photos":[{"type":"image","url":"http:\/\/l2.yimg.com\/bt\/api\/res\/1.2\/o7g52ZfQO2z79PRDnwNuug--\/YXBwaWQ9eW5ld3M7Zmk9aW5zZXQ7aD0zMTI7cT03OTt3PTQ1MA--\/http:\/\/media.zenfs.com\/en_us\/News\/Reuters\/2012-11-07T221353Z_4_CBRE8A61BIA00_RTROPTP_2_USA.JPG","width":450,"height":312,"uuid":"94bf589f-afdb-3d01-8984-fc68fffb427d","caption":"The Apple logo hangs in a glass enclosure above the 5th Ave Apple Store in New York, September 20, 2012. Apple's iPhone 5 goes on sale tomorrow. REUTERS\/Lucas Jackson","captionBakedHtml":"

The Apple logo hangs in a glass enclosure above the 5th Ave Apple Store in New York, September 20, 2012. Apple's iPhone 5 goes on sale tomorrow. REUTERS\/Lucas Jackson","date":"Wed, Nov 7, 2012 5:38 PM EST","credit":"Reuters","byline":"LUCAS JACKSON","provider":"Reuters","photo_title":"The Apple logo hangs in a glass enclosure above the 5th Ave Apple Store in New York","pivot_alias_id":"apple-logo-hangs-glass-enclosure-above-5th-ave-photo-170604491","plink":"\/photos\/apple-logo-hangs-glass-enclosure-above-5th-ave-photo-170604491.html","plink_vita":"http:\/\/news.yahoo.com\/photos\/apple-logo-hangs-glass-enclosure-above-5th-ave-photo-170604491.html","srchtrm":"The Apple logo hangs in a glass enclosure above the 5th Ave Apple Store in New York","revsp":"","rev":"d8572ae0-292b-11e2-9df6-ca0851fb565a","surl":"http:\/\/l2.yimg.com\/bt\/api\/res\/1.2\/SFfjn7JLYfdmmNshb8PUtA--\/YXBwaWQ9eW5ld3M7Zmk9aW5zZXQ7aD01NjtxPTc5O3c9ODE-\/http:\/\/media.zenfs.com\/en_us\/News\/Reuters\/2012-11-07T221353Z_4_CBRE8A61BIA00_RTROPTP_2_USA.JPG","swidth":81,"sheight":56}]};

Y.Media.boba_lightbox_module_configs['cdb195a8f28db8cb968141f778323a6b'] = {"spaceid":"97570179","ult_pt":"story-lightbox","darla_id":"","images_total":0,"xhr_url":"\/_xhr\/related-article\/lightbox\/?id=6fc6e2e9-b163-3060-b8dd-69df1e64d440","xhr_count":20,"autoplay_if_first_item_is_video":true};
});
Y.later(10, this, function() {new Y.Media.RelatedArticle({count:"2",start:"1",
mod_total:"10", total:"0",
content_id:"6fc6e2e9-b163-3060-b8dd-69df1e64d440",
spaceid:"97570179",
related_count:"-1"
});
});
Y.later(10, this, function() {(function(d){
d.getElementsByTagName('head')[0].appendChild(d.createElement('script')).src='http://d.yimg.com/oq/js/csc_news-en-US-core.js';
})(document);
});
Y.later(10, this, function() {
if(!("Media" in YAHOO)){YAHOO.Media = {};}
if(!("ugcrate" in YAHOO.Media)){YAHOO.Media.ugcrate = {};}
if(!("Media" in Y)){Y.namespace("Media");}
YAHOO.Media.ugcrate.ratings_5edd788e9527897897ec94abed6516ae = new Y.Media.UgcRate({"context_id":"09a9faf4-1bcc-43ad-ac6a-bd9f23f9f173","sCrumb":"","containerId":"yom-sentimentrate-5edd788e9527897897ec94abed6516ae","rateDimensions":"d1","appLang":"en-US","sUltSId":"97570179","sUltProperty":"news-en-US","sUltCampaign":"","sUltPlatform":"ugcwidgets","sUltIntl":"US","sUltLang":"en-US","selfPageUrl":"http:\/\/news.yahoo.com\/apples-shares-slide-4-percent-five-month-low-170604771--sector.html?_esi=0","artContentId":"6fc6e2e9-b163-3060-b8dd-69df1e64d440","sUltQstnTxt":"How confident are you that your privacy is being protected when you browse the internet?","artContentTitle":"Apple slides to five-month low, uncertainty grows","artContentDesc":"SAN FRANCISCO\/NEW YORK (Reuters) - Shares of Apple Inc slid almost 4 percent on Wednesday to a five-month low as investors grew more uncertain about its ability to fend off unprecedented competition and untangle a snarled iPhone 5 supply chain. Apple\\'s slide outpaced the S&P 500\\'s drop of about 2.4 percent the day after the U.S. election, putting the world\\'s most valuable technology company into bearish territory. Long a mainstay of many fund portfolios, Apple on Wednesday lost 20 percent - $130 billion of its market value - since hitting a record high in September. ...","sUltBucketId":"test1","sUltSection":"sentirating","sUltBeaconUrl":"","sUltRecordPageviews":"1","sUltBeaconEnable":"1","serviceUrl":"\/_xhr","publisherContextId":"","propertyId":"2fcd79b5-b3a3-333e-b98e-722536a6698f","configurationId":"435db9ee-c55e-3766-b20d-c8ad3ff889d1","graphId":"","labelLeft":"Not at all confident","labelRight":"Completely confident","labelMiddle":"","itemimg":"http:\/\/l.yimg.com\/a\/i\/ww\/met\/yahoo_logo_us_061509.png","selfURI":"","aggregateRatingCount":"44695","aggregateReviewCount":"0","leftBlocksNum":"42353","rightBlocksNum":"2342","leftBlocksPerCent":"95","rightBlocksPerCent":"5","ugcrate_apihost":"api01-us.ugcl.yahoo.com:4080","publisher_id":"news-en-US","yca_cert":"yahoo.ugccloud.app.trusted_proxies","timeout_write":"5000","through_proxy":"false","optionStats":"{\"s1\":33803,\"s2\":3633,\"s3\":1659,\"s4\":1658,\"s5\":1600,\"s6\":2342,\"s7\":0,\"s8\":0,\"s9\":0,\"s10\":0}","l10N":"{\"FIRST_TO_READ\":\"You are first to read this. Share your feelings and start a conversation.\",\"SHARE_YOUR_FEELINGS\":\"You too can share your feelings and start a conversation!\",\"HOW_YOUR_FRIENDS_THINK\":\"Thank you for sharing your feeling on this article!\",\"PRE_SHARE_MSG\":\"Your Facebook friends on Yahoo! can see how you responded. To share your response on Facebook, click on the Facebook share option.\",\"START_THE_CONVERSATION\":\"Start the Conversation\",\"THANKS_FOR_SHARING\":\"Sure, that's how you feel... But what do your friends think?\",\"POLL_HEADER\":\"SOCIAL SENTIMENT\",\"SERVER_ERROR\":\"Oops there seems to be some error, please try again later\",\"LOADING\":\"Loading...\",\"SHARE_AFTER_COMMENT\":\"Your response has been shared on Facebook.\",\"UNDO\":\"Undo\",\"UNIT_PEOPLE\":\"People\",\"NUM_PEOPLE_DISAGREE\":\"disagree with your opinion.\",\"READ_MORE_TEXT\":\"Read what they have to say.\",\"SLIDER_THUMB_WORDING_BEFORE_VOTING\":\"WHAT DO YOU THINK?\",\"SLIDER_THUMB_WORDING_VERB_BEFORE_VOTING\":\"DRAG\",\"SLIDER_THUMB_WORDING_THANKS_VOTING\":\"Thanks for voting\",\"NUM_PEOPLE_ANSWERED\":\" 44,695 people have responded\",\"ONE_PERSON_ANSWERED\":\" 1 person has responded. Your response will be seen by your Facebook friends on Yahoo!\",\"TWO_PEOPLE_ANSWERED\":\" 2 people have responded. Your response will be seen by your Facebook friends on Yahoo!\",\"NUM_PEOPLE_ANSWERED_AND_SHARED\":\" 44,695 people have responded. Your response will be seen by your Facebook friends on Yahoo!\",\"NUM_PEOPLE_RATED__s1\":33803,\"NUM_PEOPLE_RATED__s2\":3633,\"NUM_PEOPLE_RATED__s3\":1659,\"NUM_PEOPLE_RATED__s4\":1658,\"NUM_PEOPLE_RATED__s5\":1600,\"NUM_PEOPLE_RATED__s6\":2342,\"NUM_PEOPLE_RATED__s7\":0,\"NUM_PEOPLE_RATED__s8\":0,\"NUM_PEOPLE_RATED__s9\":0,\"NUM_PEOPLE_RATED__s10\":0}","fbconfig":"{\"message\":\"undefined\",\"name\":\"undefined\",\"link\":\"\",\"source\":\"\",\"picture\":\"http:\\\/\\\/l.yimg.com\\\/a\\\/i\\\/ww\\\/news\\\/2011\\\/09\\\/27\\\/yahoo-tc.jpg\",\"description\":\"\",\"captionLeft\":\"undefined\",\"captionRight\":\"undefined\",\"app_id\":\"196660913708276\",\"redirect_uri\":\"\\\/_xhr\\\/ugcratefbredirect\\\/\"}","template_id":"LONG_SLIDER_SOUTH","obj_id":"ratings_5edd788e9527897897ec94abed6516ae","opt_count":"6","opt_color1":"","opt_color2":"","template_html":"

Read More..

Mom of 'Modern Family' teen star accused of abuse

LOS ANGELES (AP) — The mother of "Modern Family" star Ariel Winter has temporarily lost custody of the actress amid allegations she's been abusive to the teenager.

Court records claim Winter's mother, Chrisoula Workman, has been physically and emotionally abusive to her 14-year-old daughter, who plays Alex Dunphy on the hit ABC comedy.

The October order, first reported Wednesday by celebrity website TMZ, requires Workman to stay away from Winter until a Nov. 20 hearing. Records show Winter's sister filed for guardianship and was appointed her temporary guardian, but will not have access to her earnings.

The records describe Workman's abuse as consisting of slapping and name-calling.

Reached by phone, Workman said she was in the process of hiring an attorney.

Winter has appeared in films and TV shows since she was 7.

Read More..

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.”

Read More..