A huge collection of odd TV stuff needs a home






LOS ANGELES (AP) — James Comisar is the first to acknowledge that more than a few have questioned his sanity for spending the better part of 25 years collecting everything from the costume George Reeves wore in the 1950s TV show “Superman” to the entire set of “The Tonight Show Starring Johnny Carson.”


Then there’s the pointy Spock ears Leonard Nimoy wore on “Star Trek” and the guns Tony Soprano used to rub out a mob rival in an episode of “The Sopranos.”






“Along the way people thought I was nuts in general for wanting to conserve Keith Partridge’s flared pants from ‘The Partridge Family,’” the good-natured former TV writer says of the 1970s sitcom as he ambles through rows of costumes, props and what have you from the beginnings of television to the present day.


“But they really thought I needed a psychological workup,” Comisar, 48, adds with a smile, “when they learned I was having museum curators take care of these pieces.”


A museum is exactly where he wants to put all 10,000 of his TV memorabilia items, everything from the hairpiece Carl Reiner wore on the 1950s TV variety program “Your Show of Shows” to the gun and badge Kiefer Sutherland flashed on “24″ a couple TV seasons ago.


Finding one that could accommodate his collection, which fills two sprawling, temperature-controlled warehouses, however, has sometimes been as hard as acquiring the boots Larry Hagman used to stomp around in when he was J.R. on “Dallas.” (The show’s production company finally coughed up a pair after plenty of pleading and cajoling.)


Comisar is one of many people who, after a lifetime of collecting, begin to realize that if they can’t find a permanent home for their artifacts those objects could easily end up on the trash heap of history. Or, just as bad as far as he’s concerned, in the hands of private collectors.


“Some of the biggest bidders for Hollywood memorabilia right now reside in mainland China and Dubai, and our history could leave this country forever,” says Comisar, who these days works as a broker and purchasing expert for memorabilia collectors.


What began as a TV-obsessed kid’s lark morphed into a full-fledged hobby when as a young man writing jokes for Howie Mandel and Joan Rivers, and punching up scripts for such producers as Norman Lear and Fred Silverman, Comisar began scouring studio back lots, looking for discarded stuff from the favorite shows of his childhood. From there it developed into a full-on obsession, dedicated to preserving the entire physical spectrum of television history.


“After a couple years of collecting, it became clear to me,” he says, “that it didn’t much matter what TV shows James watched in the early 1970s but which shows were the most iconic. In that way, I had sort of a curator’s perspective almost from the beginning.”


In the early days, collecting such stuff was easy for anyone with access to a studio back lot. Many items were simply thrown out or given away when shows ceased production. When studios did keep things they often rented them out for small fees, and if you lost or broke them you paid a small replacement fee. So Comisar began renting stuff right and left and promptly losing it, acquiring one of Herman Munster’s jackets that way.


These days almost everything has a price, although Comisar’s reputation as a serious collector has led some people to give him their stuff.


If he simply sold it all, he could probably retire as a millionaire several times over. Just last month someone paid $ 480,000 for a faded dress Judy Garland wore in the 1939 film “The Wizard of Oz.” What might Annette Funicello’s original Mickey Mouse Club jacket fetch?


He won’t even think about that.


“I’ve spent 25 years now reuniting these pieces, and I would be so sick if some day they were just broken up and sold to the highest bidder,” he says.


He, and every other serious collector of cool but somewhat oddball stuff, face two major obstacles, say museum curators: Finding a museum or university with the space to take their treasures and persuading deep-pocketed individuals who might bankroll the endeavor that there’s really any compelling reason to preserve something like Maxwell Smart’s shoephone.


“People hold television and popular culture so close to their hearts and embrace it so passionately,” says Dwight Bowers, curator of entertainment collections for the Smithsonian’s National Museum of American History, who calls Comisar’s collection very impressive. “But they don’t put it on the same platform as military history or political history.”


When the Smithsonian acquired Archie Bunker’s chair from the seminal TV comedy “All in the Family,” Bowers said, museum officials took plenty of flak from those offended that some sitcom prop was being placed down the hallway from the nation’s presidential artifacts.


The University of California, Santa Cruz, took similar heat when it accepted the Grateful Dead archives, 30 years of recordings, videos, papers, posters and other memorabilia gifted by the band, said university archivist Nicholas Meriwether.


“What I always graciously say is that if you leave the art and the music aside for one moment, whatever you think of it, what you can say is they are still a huge part of understanding the story of the 1960s and of understanding the nation’s counterculture,” says Meriwether.


Comisar sees his television collection serving the same purpose, tracing societal changes TV shows documented from the post-World War II years to the present.


The Academy of Television Arts and Sciences Foundation looked into establishing such a museum some years back, and Comisar’s collection came up at the time, said Karen Herman, curator of the foundation’s Archive of American Television.


Instead, the foundation settled on an online archive containing more than 3,000 hours of filmed oral history interviews with more than 700 people.


While the archive doesn’t have any of Mr. Spock’s ears, anyone with a computer can view and listen to an oral history from Spock himself, the actor Leonard Nimoy.


Comisar, meanwhile, believes he’s finally found the right site for a museum, in Phoenix, where he’s been lining up supporters. He estimates it will cost $ 35 million and several years to open the doors, but hopes to have a preview center in place by next year.


Mo Stein, a prominent architect who heads the Phoenix Community Alliance and is working with him, says one of the next steps will be finding a proper space for the collection.


But, really, why all the fuss over a place to save one of the suits Regis Philbin wore on “Who Wants to be a Millionaire”?


“In Shakespeare’s time, his work was considered pretty low art,” Comisar responds.


Oh, he’ll admit that “Mike and Molly,” the modern TV love story of a couple who fall for each other at Overeaters Anonymous, may never rank in the same category as “Romeo and Juliet.”


“But what about a show like ‘Star Trek’?” he asks.


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Suing the Senate to Kill the Filibuster






Senate Majority Leader Harry Reid has it in for the filibuster. “I think the rules have been abused, and we are going to work to change them,” he told reporters soon after the election. The Nevada Democrat is worked up because Republicans have used it to hold up legislation 389 times since 2007. “We will not do away with the filibuster,” Reid said, but “we are going to make it so we can get things done.” He’d change the rules so filibustering senators would have to go back to doing it the old-fashioned way—talking on the Senate floor nonstop, Jimmy Stewart-style—instead of merely declaring a filibuster and going home, which is the way it’s often done now. He’d also make it so senators could only filibuster final votes and not use it to block every procedural step along the way. Even these modest reforms won’t be easy to pass: To change Senate rules Democrats need 67 votes, 12 of them Republican.


A federal lawsuit now in the U.S. District Court in Washington could do Reid one better. It seeks to outlaw the filibuster as unconstitutional. Common Cause, the left-leaning advocacy group, filed the case on behalf of eight plaintiffs, among them three children of undocumented immigrants who say they would have been naturalized under President Obama’s proposed Dream Act if a GOP filibuster hadn’t blocked it. Lawyers for the plaintiffs argue that unlimited debate isn’t a vital Senate tradition that protects the rights of the minority party, but an historical accident that’s led to the equivalent of minority rule.






e5731  pol filibuster52  01  inline202 Suing the Senate to Kill the FilibusterIllustration by Eleanor DavisFilibuster comes from the Spanish “filibustero,” or pirate


Blame it on Aaron Burr. In his famed farewell address to the Senate in 1805, the vice president urged his colleagues to simplify the body’s rules. They did the next year, eliminating among other things a parliamentary motion that required a simple majority to force an end to debate and move to a vote. Burr thought it unnecessary, since it had only been invoked once in four years. Yet without it, there was no longer a way to stop a determined talker from stalling a vote on a bill he opposed. The Senate didn’t set out to create the filibuster; it was an unintended consequence.


In Washington no opportunity goes unexploited, and by the mid-19th century the filibuster had become a weapon. There have been periodic attempts to weaken it. A rule change in 1917 allowed a two-thirds majority to cut off an obstinate senator, and in 1975 the threshold was lowered further to a three-fifths majority, or 60 votes.


According to Emmet Bondurant, lead counsel for the plaintiffs in the federal suit, the Senate’s power to set its own procedures has come into conflict with another constitutional imperative: majority rule. Bondurant notes that the framers of the Constitution created a supermajority requirement in the Senate for six specific circumstances, among them approving a treaty or impeaching a president. From this, the Common Cause suit infers that the Constitution intends the Senate to decide other matters by majority vote.


In the Federalist Papers, James Madison wrote that requiring a supermajority in Congress would reverse “the fundamental principle of free government,” and that a minority might use it to “extort unreasonable indulgences.” It could be used to “embarrass the administration” and “destroy the energy of the government,” wrote Alexander Hamilton. Says Bondurant: “You take those Federalist Papers and publish them today, and people would think you’re talking about the current dysfunctional Senate.”


At a Dec. 10 hearing, lawyers for the Senate asked the judge in the case, Emmett Sullivan, to dismiss the suit, arguing that the plaintiffs can’t plausibly claim to have been injured by a law that wasn’t enacted. The question of the filibuster, they say, is a political one, not for the courts to decide. Judge Sullivan hasn’t indicated when he’ll rule on letting the case proceed.


Common Cause is stretching to make its point, says Michael Gerhardt, the director of the Center for Law and Government at the University of North Carolina School of Law. Gerhardt, a friend of Bondurant, agreed as a favor to look for weaknesses in the suit before it was filed. Gerhardt points to the 1917 and 1975 changes that made it easier to defeat a filibuster. Reid’s current push for further changes, he says, shows the system is capable of correcting itself.


Bondurant doesn’t buy his friend’s argument. The Senate, he says, has been grappling with the implications of the filibuster for the better part of two centuries. Only the courts can extricate it from its own mess. Reid’s proposals are “a great deal of talk,” says Bondurant. “But he doesn’t have the capacity to deliver.”


The bottom line: Although senators defend the filibuster as fundamental to the democratic process, it’s not mentioned in the Constitution.


Businessweek.com — Top News





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Novo Nordisk A/S: Ryzodeg(R) (insulin degludec/insulin aspart) approved in Japan






BAGSVAERD DENMARK–(Marketwire – Dec 25, 2012) – Company announcement No 84 / 2012: http://hugin.info/2013/R/1667087/541141.pdf


This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that:






(i) the releases contained herein are protected by copyright and other applicable laws; and


(ii) they are solely responsible for the content, accuracy and originality of the information contained therein.


Source: Novo Nordisk A/S via Thomson Reuters ONE [HUG#1667087]


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Yen on defensive on U.S. fiscal worry, helps Nikkei

TOKYO (Reuters) - Uncertainty over whether U.S. lawmakers will strike a deal by an end-of-year deadline to avert a severe fiscal retrenchment undermined the yen and bolstered Japanese shares on Tuesday in low volume, with many participants away on Christmas holiday.


The dollar rose to a 20-month high of 84.965 yen early on Tuesday in Asia, as Japanese markets caught up with global investors who had reacted overnight to incoming Japanese Prime Minister Shinzo Abe's weekend comments that raised the pressure on the Bank of Japan.


During a meeting on Tuesday with officials from Japan's major business lobby, Keidanren, Abe reiterated calls on the BOJ to conduct bold monetary easing to beat deflation by setting an inflation target of 2 percent.


The head of Abe's coalition partner said on Tuesday the coalition party and Abe had agreed to set a 2 percent inflation target and compile a large stimulus budget to help the economy return to growth and overcome deflation.


The yen has come under pressure as a result of expectations that the BOJ will be compelled to adopt more drastic monetary stimulus measures next year.


The dollar was expected to stay firm this week as investors repatriate dollars, and as the U.S. fiscal impasse is likely to continue to sap investor appetite for risky assets and raise the dollar's safe-haven appeal.


"The dollar is seen relatively well bid, with all focus on the fiscal cliff," said Yuji Saito, director of foreign exchange at Credit Agricole in Tokyo.


"Negotiations may be carried over the weekend, but markets still expect a deal to be struck by December 31. It is unthinkable that the U.S. will risk driving its economic growth sharply lower by not agreeing to avoid it."


U.S. lawmakers and President Barack Obama were on Christmas holiday and talks were unlikely to resume until later in the week.


House of Representatives Speaker John Boehner failed to gain support for a tax plan at the end of last week, raising fears that the United States may face the "fiscal cliff" of some $600 billion in automatic spending cuts and tax increases set to start on January 1.


Japan's Nikkei stock average <.n225> resumed trading after a three-day weekend with a 1.1 percent gain, recapturing the key 10,000 mark it ceded on Friday after Boehner's failure sparked a broad market sell-off and the Tokyo benchmark closed down 1 percent. The Nikkei was likely to be supported as long as the yen stayed weak. <.t/>


"Ongoing optimism about the weak yen is lifting hopes that exporters' earnings will be better than expected," said Hiroichi Nishi, general manager at SMBC Nikko Securities.


Analysts say a near-term correction may be possible as the index is now in "overbought" territory after gaining 16.2 percent over the last six weeks, hitting a nine-month high last Friday. Its 14-day relative strength index was at 72.34, above the 70 level that signals an overbought condition.


MSCI's broadest index of Asia-Pacific shares outside Japan <.miapj0000pus> nudged up 0.1 percent, driven higher by surging Shanghai shares, as most Asian bourses were shut for Christmas.


The Shanghai Composite Index <.ssec> soared over 2 percent to five-month highs as investors bought property stocks on mounting optimism about the sector. Taiwan shares <.twii> jumped 1.3 percent on gains in technology and financial shares.



Asset performance in 2012: http://link.reuters.com/muc46s


2012 commodities returns: http://link.reuters.com/faz36s


^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>


U.S. HOLDS 2013 KEY


Goro Ohwada, president and CEO at Japan-based fund of hedge funds Aino Investment Corp, said investors were likely to focus on economic fundamentals and the United States for cues on investment direction in 2013.


"There is a feeling that an investment strategy based on economic fundamentals may finally work next year, with asset prices more closely reflecting fair value. The problem is, we don't know yet which asset is a better bet than others," Ohwada said, adding that oil and gold appeared to be near their highs.


Naohiro Niimura, a partner at research and consulting firm Market Risk Advisory, said commodities and energy prices will likely move in tight ranges in 2013, with investors eyeing political events, including the U.S. fiscal cliff outlook, Italian parliamentary election set for February 24-25, and Germany's elections in September.


"The macroeconomic policies taken this year around the world to support growth are expected to result in a moderate recovery in 2013 to reduce an excessive downside risk to prices. This will likely keep commodities, gold and energy prices near their highs," Niimura said.


(Additional reporting by Ayai Tomisawa in Tokyo; Editing by Edmund Klamann and Daniel Magnowski)



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Pagano back to coach Colts after cancer treatment


INDIANAPOLIS (AP) — Chuck Pagano stepped to the podium Monday, hugged his team owner, thanked his family for its support and wiped a tear from his eye.


He might, finally, turn out the lights in his office, too.


Nearly three months to the day after being diagnosed with leukemia, the Colts' first-year coach returned to a team eager to reunite with a boss healthy enough to go back to work.


"I told you my best day of my life was July 1, 1989," Pagano said, referring to his wedding date. "Today was No. 2. Getting to pull up, drive in, get out of my car, the key fob still worked. I was beginning to question whether it would or not. When I asked for Bruce to take over, I asked for him to kick some you-know-what and to do great. Damn Bruce, you had to go and win nine games? Tough act to follow. Tough act to follow. Best in the history of the NFL. That's what I have to come back to."


The comment turned tears into the laughter everyone expected on such a festive occasion.


For Pagano and the Colts, Monday morning was as precious as anyone could have imagined when Pagano took an indefinite leave to face the biggest opponent of his life, cancer.


In his absence, all the Colts was win nine of 12 games, make a historic turnaround and clinch a playoff spot all before Sunday's regular-season finale against Houston, which they pegged as the day they hoped to have Pagano back. If all goes well at practice this week, Pagano will be on the sideline for the first time since a Week 3 loss to Jacksonville.


Pagano endured three rounds of chemotherapy to put his cancer in remission.


That Pagano's return came less than 24 hours after Indy (10-5) locked up the No. 5 seed in the AFC and the day before Christmas seemed fitting, too.


"I know Chuck is ready for this challenge. In speaking to his doctor multiple times, I know that the time is right for him to grab the reins, get the head coaching cap on and begin the journey," owner Jim Irsay said. "It's been a miraculous story. It really is a book. It's a fairytale. It's a Hollywood script. It's all those things but it's real."


The reality is that he's returning to a vastly different team than the one he turned over to Arians, his long-time friend and first assistant coaching hire.


Back then, the Colts were 1-2 and most of the so-called experts had written them off as one of the league's worst teams. Now, they're ready to show the football world that they can be just as successful under Pagano as they were under Arians, who tied the NFL record for wins after a midseason coaching change.


Pagano also has changed.


The neatly-trimmed salt-and-pepper hair and trademark goatee that were missing in November have slowly returned, and the thinner man who appeared to be catching his breath during a postgame speech in early November, looked and sounded as good as ever Monday.


He repeatedly thanked fans for their prayers and letters, the organization and his family for their unwavering help and promised to provide comfort and support to other people who are facing similar fights. During one poignant moment that nearly brought out tears again, Pagano even recounted a letter sent to him by a 9-year-old child who suggested he suck on ice chips and strawberry Popsicles in the hospital and advised him to be nice to the nurses regardless of how he felt — and he never even paused.


"I feel great, my weight is back, my energy is back and again, it's just a blessing to be back here," Pagano said.


In the minds of Colts players and coaches, Pagano never really left.


He continually watched practice tape and game film on his computer, used phone calls and text messages to regularly communicate with players and occasionally delivered a pregame or postgame speech to his team.


"He texted me and called me so much, it was like he was standing there in my face every day," said receiver Reggie Wayne, who has been friends with Pagano since the two were working together at the University of Miami.


But the Colts found plenty of other ways to keep Pagano's battle in the forefront.


They began a fundraising campaign for leukemia research, calling it Chuckstrong. Players had stickers with the initials CP on their locker room nameplates, and Arians wore an orange ribbon on his baseball cap during games. Orange is the symbolic color for leukemia. At one point, nearly three dozen players shaved their heads to show their ailing coach they were with him.


That's not all.


Arians and first-year general manager Ryan Grigson decided to leave the lights on in Pagano's office until he returned. Pagano noted the team even installed plastic clips to make sure those lights were not mistakenly turned off while he was gone. Those clips were removed when Pagano arrived Monday morning.


And Arians said nobody sat in the front seat of the team bus.


"He's always been our head coach," Arians said.


So after getting medical clearance from his oncologist, Dr. Larry Cripe, to return with no restrictions, Pagano couldn't wait to get to the office Monday morning.


Arians arrived at 7 a.m., three hours early for the scheduled team meeting. By then, Pagano had already driven past the inflatable Colts player with the words "Welcome Back Chuck" printed on its chest and was back in his office preparing for the Texans.


Players showed up a couple of hours later, and when the torch was passed from Arians back to Pagano, players gave their returning coach a standing ovation that Wayne said was well-deserved.


All Pagano wants to do now is emulate the success Arians and his players have had this season.


"I asked him (Arians) if he would lead this team and this ballclub and this organization and take over the reins," Pagano said. "What a masterful, masterful job you did Bruce. You carried the torch and all you went out and did was win nine ballgames. You got us our 10th win yesterday and you got us into the playoffs. You did it with dignity and you did it with class. You're everything that I always knew you were and more."


___


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


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Shootings: Suicide risk gives clues




A sign near a cemetery of a victim in the school shooting in Newtown, Connecticut.




STORY HIGHLIGHTS


  • Daniel Flannery: Studies show there is no distinct profile of school shooters

  • Flannery: We can take lessons from what we know about risk for suicide

  • He says we can do better to assess a person's risk for violent action toward others

  • Flannery: Communities and schools should pay more attention to kids' mental health




Editor's note: Daniel J. Flannery is the Dr. Semi J. and Ruth Begun professor and director of the Begun Center for Violence Prevention, Research and Education at the Mandel School of Applied Social Sciences at Case Western Reserve University.


(CNN) -- It is hard not to feel a sense of despair, loss and anxiety over the shooting in Newtown, Connecticut. We want answers. We may not know for a very long time, if ever, what really motivated the shooter.


Previous studies of school shooters show us that some common mental health symptoms characterize many of the perpetrators, including poor anger management ability, narcissism, low self-esteem and lack of empathy. However, there are still many more differences across shooters than similarities, so to date there is no distinct profile of school shooters.


What can we do, aside from the psychological autopsying of recent incidents, to try and prevent more homicide school shootings? There is no simple answer. But we can take some lessons from what we know about risk for suicide.



Daniel J. Flannery

Daniel J. Flannery



For many years, we have done a pretty good job of getting people to take threats of suicide seriously. If a young person walks into a counselor's office and says something like, "I think I'm going to kill myself," that counselor has been professionally trained and socialized to not underestimate the threat of self-injury.


Certainly, not every young adult who says such a thing goes on to commit suicide. Evidence shows that many of them have at least thought about hurting or killing themselves at some point, but few actually make a real attempt and fewer still carry it out.








Developing a good model for assessing the risk of suicide can provide a framework for how to assess the seriousness of threats to commit acts of violence toward others.


For example, one of the best predictors of suicide is previous suicide attempts. We try to determine whether a person has access to lethal methods of self-harm (drugs, firearms) and how detailed are the plans to carry out the act. We look for signs of anger and whether the person has experienced a recent crisis or loss. We try to figure out if a person's sense of rejection or disenfranchisement leads to a sense of hopelessness about the future, and a conviction that suicide is the only way out of a desperate situation. Moreover, if a person knows someone close who has committed suicide, we have to be vigilant since there tends to be an increase (clustering) of suicides among friends or acquaintances.


Each of these signposts can help us do a better job of assessing a person's risk for carrying out acts of violence toward others like in the school shootings.


We can look for any history of violence -- whether the person has written about or told others of his or her intent. We can try to find out whether the person has access to firearms or has thought out a plan to carry out an attack. We can try to evaluate levels of anger, feelings of rejection, or expressions of hopelessness about the future.


Most adolescent school shooters have said something to peers prior to taking any action, but not always to the direct target of an attack, and rarely to an adult. (In contrast, in rampage shootings carried out by adults, we don't have as much information and they don't usually give verbal warnings or threats beforehand.)


Ideally, assessing the risk would be carried out using a validated set of reliable indicators, with detailed semi-structured interviews performed by trained mental health professionals. In schools, social workers, counselors or school psychologists can screen young people for risk of potential violence perpetration and refer them to other mental health professionals who could do a more thorough assessment if necessary. Of course, adequate screenings depend largely on adequate time, resources and staff training.


Not every young person who makes a threat to hurt others will end up committing an act of violence toward others, and very few will ever commit a multiple mass shooting. But just as we take threats of suicide seriously, we should pay equal attention to those who say they might harm others.


We have to do all we can to make sure our children are safe, and that they all come home at the end of the school day. We can take steps as a community to pay attention to mental health and violence as it occurs every day, not just when horrible acts of great magnitude occur.


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The opinions expressed in this commentary are solely those of Daniel J. Flannery.






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Pro-gun rights US petition to deport Piers Morgan






LONDON (AP) — Tens of thousands of people have signed a petition calling for British CNN host Piers Morgan to be deported from the U.S. over his gun control views.


Morgan has taken an aggressive stand for tighter U.S. gun laws in the wake of the Newtown, Connecticut, school shooting. Last week, he called a gun advocate appearing on his “Piers Morgan Tonight” show an “unbelievably stupid man.”






Now, gun rights activists are fighting back. A petition created Dec. 21 on the White House e-petition website by a user in Texas accuses Morgan of engaging in a “hostile attack against the U.S. Constitution” by targeting the Second Amendment. It demands he be deported immediately for “exploiting his position as a national network television host to stage attacks against the rights of American citizens.”


The petition has already hit the 25,000 signature threshold to get a White House response. By Monday, it had 31,813 signatures.


Morgan seemed unfazed — and even amused — by the movement.


In a series of Twitter messages, he alternately urged his followers to sign the petition and in response to one article about the petition said “bring it on” as he appeared to track the petition’s progress.


“If I do get deported from America for wanting fewer gun murders, are there any other countries that will have me?” he wrote.


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Markets steady amid Xmas exodus, US budget doubts






LONDON (AP) — Financial markets were largely steady in holiday-thinned trading Monday though concerns remain over the progress of U.S. budget discussions and the future of the economic reform program in Italy.


For weeks, the discussions between the White House and Congress over a budget deal have been the main driver in markets. If a deal isn’t agreed to by the start of 2013, automatic spending cuts and tax increases worth hundreds of billions of dollars will be imposed — which many economists think could push the U.S. economy back into recession.






The prevailing view has been that a deal would be agreed to in time but as the deadline nears there are growing doubts over whether the U.S. will be able to avoid the so-called “fiscal cliff.”


“The reality is given that the U.S. government is now closed for the holiday break the likelihood of anything other than soothing procrastination is highly unlikely much before the Jan. 1 deadline,” said Michael Hewson, senior market analyst at CMC Markets.


Most markets across Europe were only open for half a day and will only re-open again on Thursday. German markets, and others, were closed for Christmas Eve.


Among those that were open, Britain’s FTSE 100 index of leading British shares closed up 0.2 percent at 5,954.18 while the CAC-40 in France was down an equivalent rate at 3,652.61.


Wall Street was poised for falls at the open in what will also be a holiday-shortened trading day — both Dow futures and the broader S&P 500 futures were down 0.3 percent.


Doubts over the progress of discussions prompted a fairly sizeable sell-off last Friday though many analysts still think there will be agreement on some sort of short-term measures.


“Even if this stopgap measure is implemented it may not be enough to prevent unwanted volatility in equity markets going into 2013 as investors try and assess the adverse impact on the U.S. economy,” said Neil MacKinnon, global macro strategist at VTB Capital.


As well as monitoring developments in the U.S. over the coming days, investors will be keeping a close watch on what’s going on in Italy ahead of a general election in February.


Over the weekend, outgoing Prime Minister Mario Monti indicated that he would be willing to return to the role if pro-reform parties back him.


Over the past year or so, Monti and his technocratic government have won plaudits in the markets for their economic reforms and efforts to get a grip on the country’s borrowing. Italy has the second-highest debt burden among the 17 EU countries that use the euro. Only Greece’s is higher.


Earlier in Asia, Hong Kong’s Hang Seng, closed up 0.1 percent at 22,531.51 while South Korea’s Kospi rose less than 0.1 percent to 1,981.82. Japanese markets were closed for the Emperor’s birthday holiday.


Other financial markets were subdued too. In the currency markets, the euro was up 0.2 percent at $ 1.3224 while the benchmark New York oil price was down 16 cents at $ 88.50 a barrel.


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1ST Constitution Bancorp Declares a 5 Percent Stock Dividend






CRANBURY, NJ–(Marketwire – Dec 24, 2012) – 1ST Constitution Bancorp’s ( NASDAQ : FCCY ) Board of Directors has declared a 5 percent stock dividend to shareholders of record as of the close of business on January 14, 2013, payable January 31, 2013. Robert F. Mangano, President and Chief Executive Officer said that this action represents the twenty-first consecutive year that a stock dividend has been paid by 1ST Constitution.


1ST Constitution Bancorp, through its primary subsidiary, 1ST Constitution Bank, operates fourteen branch banking offices in Cranbury (2), Fort Lee, Hamilton, Hightstown, Hillsborough, Hopewell, Jamesburg, Lawrenceville, Perth Amboy, Plainsboro, Rocky Hill, West Windsor and Princeton, New Jersey.






1ST Constitution Bancorp common stock is traded on the Nasdaq Global Market under the trading symbol “FCCY”. Information about 1ST Constitution Bancorp can be accessed via the Internet at www.1STCONSTITUTION.com.


The foregoing contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are not historical facts and include expressions about management’s confidence and strategies and management’s expectations about new and existing programs and products, relationships, opportunities, taxation, technology and market conditions. These statements may be identified by such forward-looking terminology as “expect,” “look,” “believe,” “anticipate,” “may,” “will,” or similar statements or variations of such terms. Actual results may differ materially from such forward-looking statements. Factors that may cause results to differ materially from such forward-looking statements include, but are not limited to, changes in the direction of the economy in New Jersey, the direction of interest rates, effective income tax rates, loan prepayment assumptions, continued levels of loan quality and origination volume, continued relationships with major customers including sources for loans, a higher level of net loan charge-offs and delinquencies than anticipated, bank regulatory rules, regulations or policies that restrict or direct certain actions, the adoption, interpretation and implementation of new or pre-existing accounting pronouncements, a change in legal and regulatory barriers including issues related to compliance with anti-money laundering and bank secrecy act laws, as well as the effects of general economic conditions and legal and regulatory barriers and structure. 1ST Constitution Bancorp assumes no obligation for updating any such forward-looking statements at any time, except as required by law.


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