Well: How to Go Vegan

When I first heard former President Bill Clinton talk about his vegan diet, I was inspired to make the switch myself. After all, if a man with a penchant for fast-food burgers and Southern cooking could go vegan, surely I could too.

At the grocery store, I stocked up on vegan foods, including almond milk (that was the presidential recommendation), and faux turkey and cheese to replicate my daughter’s favorite sandwich. But despite my good intentions, my cold-turkey attempt to give up, well, turkey (as well as other meats, dairy and eggs) didn’t go well. My daughter and I couldn’t stand the taste of almond milk, and the fake meat and cheese were unappealing.

Since then, I’ve spoken with numerous vegan chefs and diners who say it can be a challenge to change a lifetime of eating habits overnight. They offer the following advice for stocking your vegan pantry and finding replacements for key foods like cheese and other dairy products.

NONDAIRY MILK Taste all of them to find your favorite. Coconut and almond milks (particularly canned coconut milk) are thicker and good to use in cooking, while rice milk is thinner and is good for people who are allergic to nuts or soy. My daughter and I both prefer the taste of soy milk and use it in regular or vanilla flavor for fruit smoothies and breakfast cereal.

NONDAIRY CHEESE Cheese substitutes are available under the brand names Daiya, Tofutti and Follow Your Heart, among others, but many vegans say there’s no fake cheese that satisfies as well as the real thing. Rather than use a packaged product, vegan chefs prefer to make homemade substitutes using cashews, tofu, miso or nutritional yeast. At Candle 79, a popular New York vegan restaurant, the filling for saffron ravioli with wild mushrooms and cashew cheese is made with cashews soaked overnight and then blended with lemon juice, olive oil, water and salt.

THINK CREAMY, NOT CHEESY Creaminess and richness can often be achieved without a cheese substitute. For instance, Chloe Coscarelli, a vegan chef and the author of “Chloe’s Kitchen,” has created a pizza with caramelized onion and butternut squash that will make you forget it doesn’t have cheese; the secret is white-bean and garlic purée. She also offers a creamy, but dairy-free, avocado pesto pasta. My daughter and I have discovered we actually prefer the rich flavor of butternut squash ravioli, which can be found frozen and fresh in supermarkets, to cheese-filled ravioli.

NUTRITIONAL YEAST The name is unappetizing, but many vegan chefs swear by it: it’s a natural food with a roasted, nutty, cheeselike flavor. Ms. Coscarelli uses nutritional yeast flakes in her “best ever” baked macaroni and cheese (found in her cookbook). “I’ve served this to die-hard cheese lovers,” she told me, “and everyone agrees it is comparable, if not better.”

Susan Voisin’s Web site, Fat Free Vegan Kitchen, offers a nice primer on nutritional yeast, noting that it’s a fungus (think mushrooms!) that is grown on molasses and then harvested and dried with heat. (Baking yeast is an entirely different product.) Nutritional yeasts can be an acquired taste, she said, so start with small amounts, sprinkling on popcorn, stirring into mashed potatoes, grinding with almonds for a Parmesan substitute or combining with tofu to make an eggless omelet. It can be found in Whole Foods, in the bulk aisle of natural-foods markets or online.

BUTTER This is an easy fix. Vegan margarines like Earth Balance are made from a blend of oils and are free of trans fats. Varieties include soy-free, whipped and olive oil.

EGGS Ms. Coscarelli, who won the Food Network’s Cupcake Wars with vegan cupcakes, says vinegar and baking soda can help baked goods bind together and rise, creating a moist and fluffy cake without eggs. Cornstarch can substitute for eggs to thicken puddings and sauces. Vegan pancakes are made with a tablespoon of baking powder instead of eggs. Frittatas and omelets can be replicated with tofu.

Finally, don’t try to replicate your favorite meaty foods right away. If you love a juicy hamburger, meatloaf or ham sandwich, you are not going to find a meat-free version that tastes the same. Ms. Voisin advises new vegans to start slow and eat a few vegan meals a week. Stock your pantry with lots of grains, lentils and beans and pile your plate with vegetables. To veganize a recipe, start with a dish that is mostly vegan already — like spaghetti — and use vegetables or a meat substitute for the sauce.

“Trying to recapture something and find an exact substitute is really hard,” she said. “A lot of people will try a vegetarian meatloaf right after they become vegetarian, and they hate it. But after you get away from eating meat for a while, you’ll find you start to develop other tastes, and the flavor of a lentil loaf with seasonings will taste great to you. It won’t taste like meat loaf, but you’ll appreciate it for itself.”

Ms. Voisin notes that she became a vegetarian and then vegan while living in a small town in South Carolina; she now lives in Jackson, Miss.

“If I can be a vegan in these not-quite-vegan-centric places, you can do it anywhere,” she said. “I think people who try to do it all at once overnight are more apt to fail. It’s a learning process.”


What are your vegantips? We’re collecting suggestions on ingredients, recipes and strategies.

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Ex-subprime bond trader accused of fraud faces extradition to U.S.









As the mortgage market collapsed in 2007, bond trader Kareem Serageldin had a tricky job – placing a value on more than $3 billion in toxic mortgage securities decaying on the books of Credit Suisse, the giant Swiss bank.


On Monday, a British court approved Serageldin’s extradition to New York to face criminal charges that he inflated the bonds’ value by $540 million to impress his bosses, angling for millions of dollars in year-end bonuses and a shot at a big promotion.


Serageldin, a U.S. citizen living in London, had been granted $7.3 million in compensation for 2007 before Credit Suisse learned of the alleged scheme and withheld $5.2 million of the pay.





In a rare criminal prosecution of Wall Street stemming from the financial crisis, the former global head of structured credit for Credit Suisse was indicted last February on conspiracy and fraud charges. Two underlings pleaded guilty and have been cooperating with federal prosecutors and securities regulators.


Announcing the indictment, U.S. Atty. Preet Bharara in Manhattan characterized the case as “greed run amok, piggybacking on one of the worst economic dislocations our nation has ever experienced.”  


Quiz: How much do you know about mortgages?


A Securities and Exchange Commission complaint said Serageldin and his colleagues knew by the end of 2007 that the bond holdings were “grossly overvalued.” The bond traders were recorded discussing how “housing was going down the tubes,” the suit alleged, yet they didn't mark down the subprime mortgage bonds to reflect that reality.


A few days after Credit Suisse reported fourth-quarter earnings, senior managers detected abnormally high prices on some of the bonds. After investigation, the bank wrote down the value of various mortgage securities by $2.7 billion, including $540 million for the holdings Serageldin oversaw.


Serageldin, 39, appeared at Westminster Magistrates Court on Monday, where his extradition was ordered and the case sent to U.K. Home Secretary Theresa May for approval. Reports from London said May would approve the extradition.


Sean Casey, a New York attorney representing Serageldin, declined to comment.


ALSO:


New York sues Credit Suisse over mortgage-backed securities


JPMorgan Chase, Credit Suisse to pay $417 million in settlements


Surprising numbers of young homeowners have no mortgage debt





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Egyptian court orders new trial for Mubarak









CAIRO—





An Egyptian court granted an appeal by former President Hosni Mubarak and ordered a new trial into the killings of hundreds of protesters during the 2011 uprising, a move certain to inflame the political unrest that has upset the country’s democratic transition.

The ruling was a victory for the ailing Mubarak and his Interior minister, Habib Adli, who also won his appeal. Both men, who had been sentenced to life in prison, face other criminal charges and are likely to remain in detention until a new trial in the deaths by security forces of more than 800 protesters.

“The previous ruling was unfair and illegal,” said Yousry Abdelrazeg, one of Mubarak’s lawyers, who accused the judge in the first trial of political bias. “The case was just a mess and there was no evidence against Mubarak.”

No date has been set for the new trial.

The court’s decision comes amid turmoil over an Islamist-backed constitution and outrage over the expanded powers of Islamist President Mohamed Morsi. It means a bloody chapter in Egypt’s 2011 revolt will be revisited with the prospect that Mubarak, whose police state ruled for 30 years, may be absolved in a case that deepened the nation’s political differences and impassioned the Arab world.

Mubarak was convicted in June of not preventing the deaths of hundreds of protesters attacked by police and snipers during the uprising, which began on Jan. 25, 2011, and ended 18 days later when he stepped aside and the military seized power.

Mubarak argued that he had not ordered the crackdown and was unaware of the extent of the violence. A recently completed government-ordered investigation into the killings, however, reportedly found that Mubarak had monitored the deadly response by security forces in Tahrir Square via a live television feed.

The appeals court ruling came a day after prosecutors announced an investigation into allegations that Mubarak, 84, received about $1 million in illicit gifts from Al Ahram, the country’s leading state-owned newspaper. The former president has reportedly been in a military hospital since December after he fell in a prison bathroom and injured himself.

Last year’s trial riveted the nation with images of the aging Mubarak wheeled into the defendant’s cage on a stretcher, his arms crossed and his eyes hidden behind sunglasses.

jeffrey.fleishman@latimes.com  

(Special correspondent Reem Abdellatif contributed to this report)

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4 gadgets that defined Vegas electronics show






LAS VEGAS (AP) — The world’s largest gadget show wrapped up on Friday, and the organizers said it was the biggest ever, beating last year’s record in terms of the floor space companies purchased to display their wares.


What was it that drew more than 3,500 companies and 150,000 people to Las Vegas for this mega-event? Here are four gadgets that exemplified the top trends at this year’s International CES.






Sony‘s 55-inch ultra-high-definition TV


The introduction of high-definition and flat-panel TVs sent U.S. shoppers on a half-decade buying spree as they tossed out old tube sets. Now that the old sets are mostly gone, sales of new TVs are falling. To lure buyers back, Asian TV makers are trying to pull the same trick again. They’re making the sets sharper. This fall, Sony and LG introduced 84-inch sets with four times the resolution of regular high-definition sets. They provide stunning sharpness, but they’re too big for most homes, and at more than $ 20,000, too expensive. At the show, the companies unveiled smaller “ultra-high-definition” sets, measuring 55 inches and 65 inches on the diagonal. They will go on sale this spring. Prices were not announced, but will presumably be a lot lower than for the 84-inch sets, perhaps under $ 10,000.


Both the size and price of these smaller ultra-HD TVs should make them easier buys, but the higher resolution will be a lot less noticeable on a smaller screen, unless viewers sit very close. Analysts expect ultra-HD to remain an exclusive niche product for some years. There’s no easy way to get ultra-HD video content to the sets, so they will mostly be showing regular HD movies. However, the sets can “upscale” the video to make it look better than it does on a regular HD set.


Analyst James McQuivey of Forrester Research believes the TV makers are focusing on the wrong thing. He doesn’t think consumers really care that much about picture quality.


“What matters most is not the number of pixels or the quality of the pixels themselves … but the increasing convenience of the content’s discovery and delivery. This is why TV makers should be investing in a better experience rather than a bigger one,” McQuivey wrote in a blog post.


— LG’s 55-inch OLED TV


Organic light-emitting diodes, or OLEDs, make for thin, extremely colorful screens. They’re already established in smartphone screens, and they have a lot of promise for other applications as well. For years, a promise is all they’ve represented. OLED screens are very hard to make in larger sizes. Now, LG is shipping a 55-inch OLED TV set in Korea, and is expected to bring it to the U.S. this spring for about $ 12,000.


Beyond being thin, power-thrifty and capable of extremely high color saturation, OLEDs are interesting for another reason: they can bend. LCDs have to be laid down on flat glass substrates, but OLEDs can be laid down on flexible glass or plastic. The major obstacle here is that flexible substrates tend to let through air, which destroys OLEDs, but manufacturers seem to have tackled the problem. Samsung showed off a phone that can bend into a tube. It consisted of a rigid plastic box with electronics and an attached display that is as thin as a piece of paper. The company suggested that in the future, it could make displays that fold up like maps — big screens that fit in a pocket.


We’re likely to see the benefits of bendy OLEDs sooner in a less eyebrow-raising but more practical implementation. It may never have occurred to you, but all electronic screens, except for cathode-ray tubes, are flat. With OLEDs, they don’t have to be. LG and Sony showed TV sets with concave screens at the show — not very useful, but an interesting demonstration. In the future, you could have a phone with a screen that laps over onto the edges, providing you with “smart” buttons with labels that change depending on whether you’re in camera mode or music mode. You could have a coffee mug with a wrap-around news and weather ticker. A revolution in design awaits.


By the way, you won’t have to choose between ultra-HD and OLED screens — Sony, Panasonic and LG showed prototype TVs that combine the technologies.


— The Pebble Watch


The Pebble is a “smart” timepiece that can be programmed to do various things, including showing text messages sent to your phone. The high-resolution display is all digital, so it can be programmed with various cool “watch faces.” But what’s really interesting about the Pebble is how it came to be —and that it exists at all.


Young Canadian inventor Eric Migicovsky couldn’t find conventional funding to make the watch, so he asked for money on Kickstarter, the biggest “crowdfunding” website. In essence, he asked people to buy watches before he actually had any to sell. The fundraising was a blowout success. Migicovsky raised $ 10.3 million by pre-selling 85,000 Pebbles. At CES, he announced that the watches were ready to ship.


Kickstarter’s goal is to bring things and events into fruition that otherwise wouldn’t happen, by creating a shortcut between the people who want to create something and the people willing to pay for it. The effect is starting to become apparent at CES. At least two other “smart” watches funded through Kickstarter were on display. Some startups were at the show to drum up interest in ongoing Kickstarter campaigns, including a Swedish company that wants to make a speaker with a transparent body, and a California outfit that wants to produce a swiveling, remote-controlled platform for cameras.


— Creative Technology Ltd.’s Interactive Gesture Camera


This $ 150 camera, promoted by Intel, attaches to a computer much like a Webcam. From a single lens, it shoots the world in 3-D, using technology similar to radar. The idea is that you can perform hand gestures in the air in front of the camera, and it lets the computer interpret them. Why would you want this? That’s not really clear yet, but a lot of effort is going into finding an answer. CES was boiling with gadgets attempting to break new ground when it comes to how we interact with computers and appliances like TV sets. The Nintendo Wii game console, with its innovative motion-sensing controllers, and the Microsoft Kinect add-on for the Xbox 360 console, which has its own 3-D-sensing camera, have inspired engineers to pursue ways to ditch —or at least complement— the keyboard, mouse, remote control and even the touchscreen.


Samsung’s high-end TVs already let viewers use hand gestures to control volume, and it expanded the range of recognized gestures with this year’s models. Startup Leap Motion was at the show with another depth-sensing camera kit, this one designed to mount next to a laptop’s touch pad, looking upward.


So far, though, the “new interaction” field hasn’t had a real hit since the Kinect. Consumers may be eager to lose the TV remote, but there’s a holdup caused by the nature of the setup: to effectively control the TV, you need to take command not just of the TV, but of the cable or satellite set-top box. TV makers and the cable companies don’t really talk to each other, and there’s no sign of them uniting on a common approach. Only when both devices can be controlled by hand-waving can we permanently let the remote get lost between the couch cushions.


Gadgets News Headlines – Yahoo! News





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Oscar snubs leave Globes with also-ran nominees


BEVERLY HILLS, Calif. (AP) — Hollywood's junior prom for film honors features quite a different cast than the senior prom at next month's Academy Awards.


Sunday night's Golden Globes are in a rare place this season, coming after the Oscar nominations, which were announced earlier than usual and threw out some shockers that have left the Globes show a little less relevant.


Key Globe contenders lined up largely as expected, with Steven Spielberg's Civil War saga "Lincoln" leading with seven nominations and two CIA thrillers — Kathryn Bigelow's "Zero Dark Thirty" and Ben Affleck's "Argo" — also doing well.


All three films earned Globe nominations for best drama and director. Yet while "Lincoln," ''Argo" and "Zero Dark Thirty" grabbed best-picture slots at Thursday's Oscar nominations, Bigelow and Affleck were snubbed for directing honors after a season that had seen them in the running for almost every other major award.


The Globe and Oscar directing fields typically match up closely. This time, though, only Spielberg and "Life of Pi" director Ang Lee have nominations for both. Along with Spielberg, Lee, Bigelow and Affleck, Quentin Tarantino is nominated for directing at the Globes. At the Oscars, it's Spielberg, Lee, "Silver Linings Playbook" director David O. Russell and two surprise picks: veteran Austrian filmmaker Michael Haneke for "Amour" and first-time director Benh Zeitlin for "Beasts of the Southern Wild."


That forces some top-name filmmakers to put on brave faces for the Globes. And while a Globe might be a nice consolation prize, it could be a little awkward if Affleck, Bigelow or Tarantino won Sunday and had to make a cheery acceptance speech knowing they don't have seats at the grown-ups table for the Feb. 24 Oscars.


That could happen. While "Lincoln" has the most nominations, it's a purely American story that may not have as much appeal to Globe voters — about 90 reporters belonging to the Hollywood Foreign Press Association who cover entertainment for overseas outlets.


The Bigelow and Affleck films center on Americans, too, but they are international tales — "Zero Dark Thirty" chronicling the manhunt for Osama bin Laden and "Argo" recounting the rescue of six U.S. embassy workers trapped in Iran amid the 1979 hostage crisis.


Globe voters might want to make right on a snub to Bigelow three years ago, when they gave their best-drama and directing prize to ex-husband James Cameron's sci-fi blockbuster "Avatar" over her Iraq war tale "The Hurt Locker."


Bigelow made history a month later, becoming the first woman to win the directing Oscar for "The Hurt Locker," which also won best picture.


Globe voters like to be trend-setters, but they missed the boat on that one. Might they feel enough chagrin to hand Bigelow the directing trophy this time?


Spielberg already has won two best-director Globes, so that might be a further inducement for the foreign-press members to favor someone else this time.


Their votes were locked in before the Oscar nominations came out. Globe balloting closed Wednesday, the day before the Academy of Motion Picture Arts and Sciences announced its awards lineup.


The Globes feature two best-picture categories — one for drama and one for musical or comedy. Most of the Globe contenders also earned Oscar best-picture nominations, including all of the drama picks: "Argo," ''Lincoln," ''Life of Pi," ''Django Unchained" and "Zero Dark Thirty."


Yet only two of the Globe musical or comedy nominees — "Les Miserables" and "Silver Linings Playbook" — are in the running at the Oscars. That's not unusual, though, since Oscar voters tend to overlook comedy. The other Globe nominees for musical or comedy are "The Best Exotic Marigold Hotel," ''Moonrise Kingdom" and "Salmon Fishing in the Yemen."


Acting contenders include Daniel Day-Lewis, Sally Field and Tommy Lee Jones for "Lincoln"; Hugh Jackman and Anne Hathaway for "Les Miserables"; Joaquin Phoenix, Amy Adams and Philip Seymour Hoffman for "The Master"; Bradley Cooper and Jennifer Lawrence for "Silver Linings Playbook"; Leonardo DiCaprio and Christoph Waltz for "Django Unchained"; Alan Arkin for "Argo"; and Jessica Chastain for "Zero Dark Thirty."


Globe acting recipients usually are a good sneak peek for who will win at the Oscars. All four of last season's Oscar winners — Meryl Streep for "The Iron Lady," Jean Dujardin for "The Artist," Octavia Spencer for "The Help" and Christopher Plummer for "Beginners" — took home a Globe first.


Jodie Foster will receive the Globes' Cecil B. DeMille Award for lifetime achievement at the 70th Globes ceremony, airing live from 8-11 p.m. EST on NBC.


There will be a friendly rivalry between the hosts of the Globe ceremony, Tina Fey and Amy Poehler. The co-stars of the 2008 big-screen comedy "Baby Mama" both are nominated for best actress in a TV comedy or musical series, Fey for "30 Rock" and Poehler for "Parks and Recreation."


The Globes present 14 film awards and 11 television prizes.


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City Room: Cuomo Declares Public Health Emergency Over Flu Outbreak

With the nation in the grip of a severe influenza outbreak that has seen deaths reach epidemic levels, New York State declared a public health emergency on Saturday, making access to vaccines more easily available.

There have been nearly 20,000 cases of flu reported across the state so far this season, officials said. Last season, 4,400 positive laboratory tests were reported.

“We are experiencing the worst flu season since at least 2009, and influenza activity in New York State is widespread, with cases reported in all 57 counties and all five boroughs of New York City,” Gov. Andrew M. Cuomo said in a statement.

Under the order, pharmacists will be allowed to administer flu vaccinations to patients between 6 months and 18 years old, temporarily suspending a state law that prohibits pharmacists from administering immunizations to children.

While children and older people tend to be the most likely to become seriously ill from the flu, Mr. Cuomo urged all New Yorkers to get vaccinated.

On Friday, the Centers for Disease Control and Prevention in Atlanta said that deaths from the flu had reached epidemic levels, with at least 20 children having died nationwide. Officials cautioned that deaths from pneumonia and the flu typically reach epidemic levels for a week or two every year. The severity of the outbreak will be determined by how long the death toll remains high or if it climbs higher.

There was some evidence that caseloads may be peaking, federal officials said on Friday.

In New York City, public health officials announced on Thursday that flu-related illnesses had reached epidemic levels, and they joined the chorus of authorities urging people to get vaccinated.

“It’s a bad year,” the city’s health commissioner, Dr. Thomas A. Farley, told reporters on Thursday. “We’ve got lots of flu, it’s mainly type AH3N2, which tends to be a little more severe. So we’re seeing plenty of cases of flu and plenty of people sick with flu. Our message for any people who are listening to this is it’s still not too late to get your flu shot.”

There has been a spike in the number of people going to emergency rooms over the past two weeks with flulike symptoms – including fever, fatigue and coughing – Dr. Farley said.

Mayor Michael R. Bloomberg and Mr. Cuomo made a public display of getting shots this past week.

In a briefing with reporters on Friday, officials from the C.D.C. said that this year’s vaccine was effective in 62 percent of cases.

As officials have stepped up their efforts encouraging vaccinations, there have been scattered reports of shortages. But officials said plenty of the vaccine was available.

According to the C.D.C., makers of the flu vaccine produced about 135 million doses for this year. As of early this month, 128 million doses had been distributed. While that would not be enough for every American, only 37 percent of the population get a flu shot each year.

Federal health officials said they would be happy if that number rose to 50 percent, which would mean that there would be more than enough vaccine for anyone who wanted to be immunized.

Two other diseases – norovirus and whooping cough – are also widespread this winter and are contributing to the number of people getting sick.

The flu can resemble a cold, though the symptoms come on more rapidly and are more severe.

A version of this article appeared in print on 01/13/2013, on page A21 of the NewYork edition with the headline: New York Declares Health Emergency.
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These fund managers buy and hold, with no apologies









Try telling Bill Frels and Mark Henneman that buy and hold is dead.


The managers of the Mairs & Power Growth Fund have owned all but one of their top 25 stocks at least a decade. In an industry that rewards risk takers searching for the next big trend, the St. Paul, Minn., fund managers have big stakes in companies that make Spam canned meat, Scotch tape and a paint sold at Lowe's hardware stores.


Their slow, patient approach to investing has paid off — they were named Morningstar's domestic stock fund managers of the year for 2012. Their fund returned 21% last year, beating the 13.4% gain in the Standard & Poor's 500 index.





Frels said the award was a validation of his firm's strategy, especially at a time when many experts have questioned the wisdom of holding stocks long term.


The fund, with about $2.5 billion under management, is an unusual success story because of something it doesn't own: Apple Inc., one of the hottest growth stocks of 2012.


The vast majority of its holdings are in companies headquartered in Minnesota, many of them a short trip from the fund's offices.


It's not uncommon for chief executives to drop by Mairs & Power for a briefing, or for the fund managers to bump into company employees in the community, Henneman said.


Frels and Henneman say they're fortunate to have many quality companies nearby. Minnesota firms Target Corp., 3M Co., Hormel Foods Corp. and Medtronic Inc. are among their top stocks.


Their No. 1 holding is paint company Valspar Corp., which soared more than 60% in 2012 thanks to strong sales at Lowe's stores across North America.


For Mairs & Power, it's not so much buy and hold as it is lock it up and throw away the key. The fund has a microscopic turnover rate of about 5%, far below the 60% average for large blend funds, according to a Morningstar research report.


The managers find good companies and hold on to them, through good times and bad.


"Their low turnover, that's very critical," said David Falkof, an analyst who covers the fund for Morningstar, which gives it a coveted five-star rating.


Frels, 73, joined Mairs & Power in 1992 and has been lead manager of the growth fund since 2004. Henneman, 51, has been co-manager of the fund since 2006. Both managers hold significant personal investments in the fund, evidence that their interests are aligned with investors', Falkof said.


Since Frels joined the fund as co-manager in 1999, it has gained an average of more than 8% annually — beating the S&P 500 by 6% a year. Although the fund may miss out on some trends, such as technology in the late 1990s, it is built to survive major crises because of its focus on sound companies, many of them in the industrial sector.


In 2008, when most funds suffered devastating losses because of the financial crisis, the Mairs & Power growth fund lost 28.5% — less than 95% of its competitors, which fell 41% on average. The fund holds about 55% in large companies, 30% in mid-caps and 15% in small caps.


What is your fund's strategy?


(Henneman): We're long-term investors. Every mutual fund manager says that, but we really stick to it. When we buy a stock, we're buying a company we expect to be invested in for a long period of time.


Why does your fund invest so heavily in Minnesota companies?


(Henneman): We are blessed to have a number of high-quality companies nearby. The benefits from proximity are huge. We really get to know these companies quite well. We are in the community with people who work for the firms we invest in.


What are the benefits of having so many companies you invest in nearby? Do you just walk over and visit their headquarters?





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Aaron Swartz, co-founder of Reddit and online activist, dies









NEW YORK -- A co-founder of Reddit and activist who fought to make online content free to the public has been found dead, authorities confirmed Saturday, prompting an outpouring of grief from prominent voices on the intersection of free speech and the Web.

Aaron Swartz, 26, hanged himself in his Brooklyn apartment weeks before he was to go on trial on accusations that he stole millions of journal articles from an electronic archive in an attempt to make them freely available.

He was pronounced dead Friday evening at home in Brooklyn's Crown Heights neighborhood, said Ellen Borakove, spokeswoman for New York's chief medical examiner.

Swartz was a prodigy who as a young teenager helped create RSS, a family of Web feed formats used to gather updates from blogs, news headlines, audio and video for users. He later co-founded the social news website Reddit, which was later sold to Conde Nast, as well as the political action group Demand Progress, which campaigns against Internet censorship.

In 2011, he was arrested in Boston and charged with stealing millions of articles from a computer archive at the Massachusetts Institute of Technology, Prosecutors said he broke into a computer wiring closet on campus and used his laptop for the downloads.

Swartz pleaded not guilty to charges including wire fraud. His federal trial was to begin next month. If convicted, he faced decades in prison and a fortune in fines.

Some legal experts considered the case unfounded, saying that MIT allows guests access to the articles and Swartz, a fellow at Harvard's Safra Center for Ethics, was a guest.

According to a federal indictment, Swartz stole the documents from JSTOR, a subscription service used by MIT that offers digitized copies of articles from academic journals. Prosecutors said he intended to distribute the articles on file-sharing websites.

He faced 13 felony charges, including breaching site terms and intending to share downloaded files through peer-to-peer networks, computer fraud, wire fraud, obtaining information from a protected computer, and criminal forfeiture.

JSTOR did not press charges once it reclaimed the articles from Swartz.

The prosecution "makes no sense," Demand Progress Executive Director David Segar said in a statement at the time. "It's like trying to put someone in jail for allegedly checking too many books out of the library."

Criticizing the government's actions in the pending prosecution, Harvard law professor and Safra Center faculty director Lawrence Lessig called himself a friend of Swartz's and wrote Saturday that "we need a better sense of justice. ... The question this government needs to answer is why it was so necessary that Aaron Swartz be labeled a 'felon.'"

Among Internet gurus, Swartz was considered a pioneer of efforts to make online information freely available.

"Playing Mozart's Requiem in honor of a brave and brilliant man," tweeted Carl Malamud, an Internet public domain advocate who believes in free access to legally obtained files.

Swartz aided Malamud's effort to post federal court documents for free online, rather than the few cents per page that the government charges through its electronic archive, PACER. In 2008, The New York Times reported, Swartz wrote a program to legally download the files using free access via public libraries. About 20 percent of all the court papers were made available until the government shut down the library access.



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Biden seeks video game industry input on guns






WASHINGTON (AP) — Looking for broader remedies to gun violence, Vice President Joe Biden is reaching out to the video game industry for ideas as the White House seeks to assemble proposals in response to last month’s massacre at a Connecticut elementary school.


Biden is scheduled to meet with video game representatives Friday as the White House explores cultural factors that may contribute to violent behavior.






The vice president, who is leading a task force that will present recommendations to President Barack Obama on Tuesday, met with other representatives from the entertainment industry, including Comcast Corp. and the Motion Picture Association of America, on Thursday.


Friday’s meeting comes a day after the National Rifle Association rejected Obama administration proposals to limit high-capacity ammunition magazines and dug in on its opposition to an assault weapons ban, which Obama has previously said he will propose to Congress. The NRA was one of the pro-gun rights groups that met with Biden during the day.


NRA president David Keene, asked Friday if the NRA has enough support in Congress to fend off legislation to ban sales of assault weapons, indicated it does. “I do not think that there’s going to be a ban on so-called assault weapons passed by the Congress,” he said on NBC’s “Today.”


In previewing the meeting with the video game industry, Biden recalled how the late Sen. Daniel Patrick Moynihan of New York lamented during crime bill negotiations in the 1980s that the country was “defining deviancy down.”


It’s unclear what, if anything, the administration is prepared to recommend on how to address the depiction of violence in the media.


White House press secretary Jay Carney last month suggested that not all measures require government intervention.


“It is certainly the case that we in Washington have the potential, anyway, to help elevate issues that are of concern, elevate issues that contribute to the scourge of gun violence in this country, and that has been the case in the past, and it certainly could be in the future,” Carney said then.


In a statement, a half dozen entertainment groups, including the Motion Picture Association of America, said they “look forward to doing our part to seek meaningful solutions.”


On gun control, however, the Obama administration is assembling proposals to curb gun violence that would include a ban on sales of assault weapons, limits on high-capacity ammunition magazines and universal background checks for gun buyers.


“The vice president made it clear, made it explicitly clear, that the president had already made up his mind on those issues,” Keene said after the meeting. “We made it clear that we disagree with them.”


Opposition from the well-funded and politically powerful NRA underscores the challenges that await the White House if it seeks congressional approval for limiting guns and ammunition. Obama can use his executive powers to act alone on some gun measures, but his options on the proposals opposed by the NRA are limited without Congress’ cooperation.


Obama has pushed reducing gun violence to the top of his domestic agenda following last month’s mass shooting at an elementary school in Newtown, Conn., where a gunman slaughtered 20 children and six adults before killing himself. The president put Biden in charge of an administration task force and set a late January deadline for proposals.


“I committed to him I’d have these recommendations to him by Tuesday,” Biden said Thursday, during a separate White House meeting with sportsmen and wildlife groups. “It doesn’t mean it’s the end of the discussion, but the public wants us to act.”


The vice president later met privately with the NRA and other gun-owner groups for more than 90 minutes. Participants in the meeting described it as an open and frank discussion, but one that yielded little movement from either side on long-held positions.


Keene told NBC there is a fundamental disagreement over what would actually make a difference in curbing gun violence.


Richard Feldman, the president of the Independent Firearm Owners Association, said all were in agreement on a need to keep guns out of the hands of criminals and the mentally ill. But when the conversation turned to broad restrictions on high-capacity magazines and assault weapons, Feldman said Biden suggested the president had already made up his mind to seek a ban.


“Is there wiggle room and give?” Feldman said. “I don’t know.”


White House officials said the vice president didn’t expect to win over the NRA and other gun groups on those key issues. But the administration was hoping to soften their opposition in order to rally support from pro-gun lawmakers on Capitol Hill.


Biden’s proposals are also expected to include recommendations to address mental health care and violence on television, in movies and video games. Those issues have wide support from gun-rights groups and pro-gun lawmakers.


As the meetings took place in Washington, a student was shot and wounded at a rural California high school and another student was taken into custody.


During his meeting with sporting and wildlife groups, Biden said that while no recommendations would eliminate all future shootings, “there has got to be some common ground, to not solve every problem but diminish the probability that our children are at risk in their schools and diminish the probability that firearms will be used in violent behavior in our society.”


Several Cabinet members have also taken on an active role in Biden’s gun violence task force, including Attorney General Eric Holder. He met Thursday with Wal-Mart, the nation’s largest firearms seller, along with other retailers such as Bass Pro Shops and Dick’s Sporting Goods.


The president hopes to announce his administration’s next steps to tackle gun violence shortly after he is sworn in for a second term. He has pledged to push for new measures in his State of the Union address.


___


Follow Julie Pace at http://twitter.com/jpaceDC


Gaming News Headlines – Yahoo! News





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Milan Fashion Week starts on somber note


MILAN (AP) — Milan Fashion Week started off on a somber note Saturday, as the design world maintained a vigil for the missing CEO of the family-run Missoni fashion house.


The Italian National Fashion Chamber urged the fashion community to post messages on social networks to keep pressure on authorities not to abandon the search for Vittorio Missoni and five others who disappeared aboard a twin-engine plane near Venezuelan islands on Jan. 5.


Designers expressed their solidarity with the family on the first day of menswear previews Saturday.


"No one better than me can understand the pain and anguish that they are experiencing, the suffering of the sister Angela," Donatella Versace told Italian reporters before her menswear preview. Versace's brother, Gianni, the founder of the company, was killed by a gunman in Miami in July 1997.


Despite the uncertainty, the Missoni fashion house confirmed its menswear preview show for Sunday. In a message posted on Facebook, designer Angela Missoni, Vittorio's sister, expressed gratitude for messages of support. Their brother, Luca, a trained pilot, was in Venezuela helping with the search.


"They did very well to confirm the appointment with the new collection. Vittorio would have done the same," said Mario Boselli, head of the fashion chamber.


Thirty-seven brands were holding fashion shows to present their menswear collections for next winter over four days.


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DOLCE&GABBANA


Dolce and Gabbana's menswear collection for next winter is pure masculinity, infused with southern romanticism.


With motifs of winter roses, illuminated Madonnas and baroque embossing, the 2014 winter menswear collection evokes the design house's Sicilian roots. And to drive home the point, the designing duo chose ordinary Sicilians as their models, as they have done in the past, filling the runway with men who were more muscular, with more pronounced features and often shorter than those usually seen in fashion.


Cinched high-waist pleated pants strongly suggested a bygone era. Trouser lengths varied from calf to ankle, straight or cuffed, while jacket, coats and vests ranged from short waist cuts to long overcoats.


In its most basic iteration, the collection featured black pants paired with white blousons or dark ribbed sweaters — the clothes of a craftsman, a fisherman, a laborer. Detailing like an overlay of white lace on the blousons elevated the look far above mere utility.


And there were also garments fitting of the merchant class — rich brocade jackets and thick furry overcoats and velvet suits. These more formal clothes, including a dark suit jacket overlayed with white lace and finished with velvet trim, could be worn for business, a personal celebration or to Sunday Mass.


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BURBERRY PRORSUM


Tradition meets innovation in Burberry Prorsum's new winter looks for men.


The "I Love Classics" collection — or made more technology-friendly, I (heart) Classics — focuses heavily on outerwear, from the classic trench and duffel, to topcoats, Chesterfields and bombers.


While diving deep into Burberry's archives, designer Christopher Bailey managed also to have fun, adding a touch of whimsy with repeating heart motifs and oversizing military-inspired accents.


"I liked the idea of celebrating things that are familiar, classic, the kind of classic Burberry, classic menswear," Bailey said backstage. "But I wanted to be playful as well."


Bailey married innovation and levity in traditional coats made of light-weight transparent rubber with a repeating heart lining. Bailey said Burberry developed the rubber to be silky to the touch. Cashmere also gets special treatment, with new finishes and bonding to alter the texture.


Colors followed the classic line — camel, bone, olive, navy and black — with deep reds and dark royal purple.


Maintaining a light mood, animal prints also accented classic bags, complementing the Burberry check pattern, and also adorned shoes and boots. Animal print sunglasses complete the look.


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JIL SANDER


Tall, almost Puritan collars gave gravitas to Jil Sander's first winter menswear collection since returning to the label she founded.


The ample lapels made prominent in the collection for next fall/winter often contrasted in tone or texture with the jacket or sweater they accented, and were sometimes layered over more traditional notched lapels. Short-cropped hair kept the focus on neckline.


Suit jackets were kept mostly shorter and allowed to billow slightly in the back. This permitted whimsical layering with longer sweaters underneath — and most of the suits were finished with sweaters, crew necks or mock turtlenecks, rather than shirts. Pants were straight, and ankle-length, giving way to well-polished boots.


While the looks adhered to the line's minimalist credo — simplicity and clean lines — there was nothing austere about it.


The colors and fabrics were both lush and luxurious. Crimson, cobalt and pine contrasted soothingly with more sober grays and black. Even strong shades were easy on the eyes. Materials included chunky corduroy, cashmere knit and leather.


For fun, Sander offered sleeveless pull-over vests, leaving arms and shoulders bare, and sometimes bi-colored in Harlequin fashion. For more serious moments, there were double-breasted pinstripes, distinguished with monochrome panels.


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ZEGNA


Cyber-kinetic patterns give energy to classic looks by Ermenegildo Zegna.


Zegna signals a push for innovation in the title of the collection: "Style for Change."


Zegna zips up the double-breasted suit with graphic lines, while repeating patterns of dots fused into lines give motion to overcoats.


Gray dominates the collection, giving it an urban flair.


The basic look forms around suits, paired with slim, elegant ties or scoop-neck sweaters. Trousers are straight cut without being tight, and might include a cummerbund that elongate the look.


Much attention is flourished on collars, which when small might be decorated with a clip, or when oversized adorned with a clasp.


Textures operate in contrast. Soft alpaca coats are worn over tailored suits.


Shoes taper to a point, while bags span a range from travel backs to computer totes.


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