Wall Street dips at open, Boeing drags

NEW YORK (Reuters) - U.S. stocks fell off five-year highs on Wednesday as concerns about global economic growth offset strong bank results and shares of Boeing weighed on the Dow after two Japanese airlines grounded their Dreamliner fleets.


Goldman Sachs shares hit an 18-month high as its earnings nearly tripled on increased revenue from dealmaking and lower compensation expenses, while JPMorgan Chase said fourth-quarter net income jumped 53 percent and earnings for 2012 set a record.


JPMorgan shares were last down 0.8 percent at $46 and Goldman added 2 percent to $138.26.


Concern about global economic growth was weighing on the markets, said Peter Jankovskis, co-chief investment officer at OakBrook Investments in Lisle, Illinois.


A slow economic recovery in developed nations is holding back the global economy, the World Bank said on Tuesday, as it sharply scaled back its forecast for world growth in 2013 to 2.4 percent from an earlier forecast of 3.0 percent.


Shares of Dow component Boeing fell 3.5 percent to $74.25 on concerns about the safety of its new Dreamliner passenger jets. Japan's two leading airlines grounded their fleets of 787s after an emergency landing, adding to safety concerns triggered by a ream of recent incidents.


"It's certainly going to pull averages down, given Boeing's large market cap, but I don't see it as having broader market implications," Jankovskis said.


The Dow Jones industrial average <.dji> fell 61.79 points or 0.46 percent, to 13,473.1, the S&P 500 <.spx> lost 4.39 points or 0.3 percent, to 1,467.95 and the Nasdaq Composite <.ixic> dropped 2.72 points or 0.09 percent, to 3,108.06.


Losses on Nasdaq were limited by gains in Apple shares, which were up 2 percent at $495.75.


Talks to take Dell Inc private were at an advanced stage, with at least four major banks lined up to provide financing, two sources with knowledge of the matter told Reuters. Shares fell 3.6 percent to $12.69 after jumping more than 21 percent over the past two sessions.


U.S. consumer prices were flat in December, pointing to muted inflation pressures that should give the Federal Reserve room to prop up the economy by staying on its ultra-easy monetary policy path.


(Editing by Bernadette Baum)



Read More..

Lance Armstrong may not be done confessing


Lance Armstrong may not be done confessing.


His interview with Oprah Winfrey hasn't aired yet, but already some people want to hear more — under oath — before Armstrong is allowed to compete in elite triathlons, a sport he returned to after retiring from cycling in 2011. In addition to stripping him of all seven of his Tour de France titles last year, anti-doping officials banned Armstrong for life from sanctioned events.


"He's got to follow a certain course," David Howman, director general of World Anti-Doping Agency, told the AP. "That is not talking to a talk show host."


Armstrong already has had conversations with U.S. Anti-Doping Agency officials, touching off speculation that the team leader who demanded loyalty from others soon may face some very tough choices himself: whether to cooperate and name those who aided, knew about or helped cover up a sophisticated doping ring that Armstrong ran on his tour-winning U.S. Postal Service squads. Former teammate Frankie Andreu, one of several riders Armstrong cast aside on his ride to the top of the sport, said no one could provide a better blueprint for cleaning up the sport.


"Lance knows everything that happened," Andreu told The Associated Press. "He's the one who knows who did what because he was the ringleader. It's up to him how much he wants to expose."


World Anti-Doping Agency officials said nothing short of "a full confession under oath" would even cause them to reconsider the ban. Although Armstrong admitted to Winfrey on Monday that he used performance-enhancing drugs, Howman said that is "hardly the same as giving evidence to a relevant authority." The International Cycling Union also urged Armstrong to tell his story to an independent commission it has set up to examine claims that the sport's governing body hid suspicious samples, accepted financial donations, and helped Armstrong avoid detection in doping tests.


Winfrey wouldn't detail what Armstrong said during their interview at a downtown Austin hotel. In an appearance on "CBS This Morning," she said she was "mesmerized and riveted by some of his answers." What had been planned as a 90-minute broadcast will be shown as a two-part special, Thursday and Friday, on Winfrey's OWN network.


The lifetime ban was imposed after a 1,000-page report by USADA last year outlined a complex, long-running doping program led by Armstrong. The cyclist also lost nearly all of his endorsements and was forced to cut ties with the Livestrong cancer charity he founded in 1997. The damage to Armstrong's reputation was just as severe.


The report portrayed him as well-versed in the use of a wide range of performance-enhancers, including steroids and blood boosters such as EPO, and willing to exploit them to dominate. Nearly a dozen teammates provided testimony about that drug regimen, among them Andreu and his wife, Betsy.


"A lot of it was news and shocking to me," Andreu said. "I am sure it's shocking to the world. There's been signs leading up to this moment for a long time. For my wife and I, we've been attacked and ripped apart by Lance and all of his people, and all his supporters repeatedly for a long time. I just wish they wouldn't have been so blind and opened up their eyes earlier to all the signs that indicated there was deception there, so that we wouldn't have had to suffer as much.


"And it's not only us," he added, "he's ruined a lot of people's lives."


Armstrong was believed to have left for Hawaii. The street outside his Spanish-style villa on Austin's west side was quiet the day after international TV crews gathered there hoping to catch a glimpse of him. Meanwhile, members of his legal team mapped out a strategy on how to handle at least two pending lawsuits against Armstrong, and possibly a third.


Former teammate Floyd Landis, who was stripped of the 2006 Tour de France title for doping, alleges in one of the lawsuits that Armstrong defrauded the U.S. government by repeatedly denying he used performance-enhancing drugs. The False Claims Act lawsuit could require Armstrong to return substantial sponsorship fees and pay a hefty fine. The AP reported earlier Tuesday that Justice Department officials were likely to join the whistleblower lawsuit before a Thursday deadline.


___


Jim Litke reported from Chicago, Jim Vertuno from Austin, Texas. Stephen Wilson in London and John L. Mone in Dearborn, Mich., also contributed to this report.


Read More..

Are gun curbs just symbolism?






STORY HIGHLIGHTS


  • Gun violence recommendations are expected from Vice President Biden on Tuesday

  • The proposals are expected to contain substantive and symbolic ideas to curb gun violence

  • Presidents use symbolism to shift public opinion or affect larger political or social change




Washington (CNN) -- The pictures told the story: Vice President Joe Biden looked solemn, patrician and in control as he sat at a long table in the White House, flanked by people on both sides of the gun control issue.


The images conveyed a sense that the White House was in command on this issue.


And that's the point. Historically, presidential administrations have used symbolic imagery—at times coupled with marginal actions—to shift public opinion or affect larger political or social change.


"Politics is a risk taking project," said Julian Zelizer, a Princeton University historian and CNN contributor. "They put together these commissions in response to some crisis. You try a hundred things and hope something works."


On the eve of the Biden-led gun control task force recommendations to President Barack Obama, political experts say it is important that his administration sends a clear signal that it has things in hand.


Obama says gun lobby stokes fear of federal action










That is especially critical in what will likely be an uphill battle to push specific changes, like an assault weapons ban, as part of a broader effort on gun control.


The first move in the image battle will be to appear to move quickly and decisively.


"You have to give the Obama administration credit for one thing: They've learned from history to do things quickly," Larry Sabato, director of the University of Virginia's Center for Politics, said of previous task force initiatives that fizzled.


In 2010, Obama appointed a bipartisan commission headed by former Republican Sen. Alan Simpson of Wyoming and Erskine Bowles, a former Democratic White House chief of staff, to come up with a proposal to balance the budget and cut the debt.


Like the gun task force, Simpson-Bowles reviewed current regulations, gathered input from the public and engaged in tense internal conversations. But after months of working on a proposal—a blend of steep revenue increases and spending cuts—the group struggled to agree to a solution. The president did not take up the recommendations.


Obama largely avoided the issue of gun control during his first term.


He wrote an opinion piece two months after the 2011 assassination attempt on Rep. Gabrielle Giffords of Arizona, acknowledging the importance of the Second Amendment right to bear arms. In the piece he also called for a focus on "effective steps that will actually keep those irresponsible, law-breaking few from getting their hands on a gun in the first place."


Newtown searches for answers a month later


But in the aftermath of that shooting and as the election season loomed, the Justice Department backed off from a list of recommendations that included a measure designed to help keep mentally ill people from getting guns.


For now, at least, there is a sense in Washington that the Newtown, Connecticut, school shooting where 26 people -- 20 of them young children -- were slaughtered could lead to meaningful legislative reform.


Public opinion would seem to suggest that the White House efforts are well timed.


In the month since the massacre, a new poll showed the percentage of Americans who said they were dissatisfied with America's gun laws has spiked.


The Gallup survey released on Monday showed 38% of Americans were dissatisfied with current gun regulations, and wanted stricter laws. That represented 13-point jump from one year ago, when 25% expressed that view. "You want to strike while the iron is hot," Sabato said. "We Americans have short attention spans and, as horrible as the Newtown shooting was, will anyone be surprised if we moved along by spring?"


The White House has since worked overtime to show it considers gun control an urgent matter.


The vice president has spent the last week meeting with what the White House calls "stakeholders" in the gun control debate.


On Monday, Biden was to meet with members of a House Democratic task force on guns, along with Attorney General Eric Holder, Homeland Security Secretary Janet Napolitano, and Kathleen Sebelius, the secretary of Health and Human Services.


Universal background check: What does it mean?


In a series of face to face discussions on Thursday, Biden sat down with the National Rifle Association and other gun owners groups before conferring with representatives from the film and television industry.


In a sign the White House is prepared to move aggressively on its proposals, Biden made public comments just before meeting with the National Rifle Association, the country's most powerful gun lobby.


"Putting the vice president in charge of (the task force) and having him meeting with these groups is intended to show seriousness and an effort to reach out and respond to concerns and wishes of various groups," said Alan Abramowitz, a political science professor at Emory University.


Still, the NRA expressed disappointment in its discussion with Biden and later released a statement that accused the administration of mounting "an agenda to attack the Second Amendment."


Organizations seeking tougher gun control laws insist an assault weapons ban is critical to addressing the nation's recent rash of mass shootings. However, such a ban could be difficult in a Congress mired in gridlock.


"The bully pulpit is limited. It's hard for the president to sustain that momentum," Zelizer said of the White House's gun control efforts after the Newtown shootings. "The thing about symbolism is, like the shock over Newtown, they fade quickly."


Newtown opens eyes to other gun violence against young people


CNN's Jim Acosta and Kevin Liptak contributed to this report






Read More..

Matt Damon “thrilled” for Ben Affleck’s movie awards triumphs






LOS ANGELES (Reuters) – Ben Affleck is storming through the Hollywood awards season with his movie “Argo,” and no-one could be happier than his old friend Matt Damon.


“Argo,” which Affleck directed, produced and stars in, won best drama movie and best director awards at both the Golden Globes on Sunday and the Critics Choice last week. It is also nominated for seven Oscars.






The story of the rescue of U.S. diplomats from Tehran after the 1979 Islamic Revolution, has put Affleck back in the spotlight after a grueling period 10 years ago when he became tabloid fodder while dating Jennifer Lopez, and the couple starred in 2003 romantic comedy flop “Gigli.”


Damon, with whom Affleck shared a screenplay Oscar for the 1997 film “Good Will Hunting,” talked with Reuters about his friend’s success.


Q: You must be so proud of Affleck.


A: “I’m just thrilled for him. I’m really happy. I’m not at all surprised, because I’ve known him for so long and I know how talented he is.”


Q: Ben went through a rough patch in the early 2000s when the media was merciless with him, his career and his personal life. Was it rough to watch from the sidelines?


A: “It was tough to watch him get kicked in the teeth for all those years because the perception of him was so not who he actually was. I always felt a knee-jerk need to defend him. It was just upsetting. It was upsetting for a lot of his friends because he’s the smartest, funnest, nicest, kindest, incredibly talented guy. And the perception of him was the opposite. So that was tough.”


Q: When did that perception change for better?


A: “It’s taken him a long time. It wasn’t one thing that got him out of the penalty box. He had to dig. He did a lot of really good work over a long amount of time. The last movie he did (“The Town”) was a great movie. And the movie before was a great too (“Gone Baby Gone”). Finally people now are ready to go, ‘Wow, he’s at the very top of the food chain.’”


Q: The two of you came up together in your careers, and won a screenplay Oscar together. How is it that you escaped the media scrutiny and he didn’t?


A: “Ten years ago he was in a relationship (with actress Jennifer Lopez) and he was on the cover of Us Weekly magazine every week. Nobody was more aware of it than him. I talked to him about it back then. He said, ‘I am in the absolute worse place you can be; I sell magazines not movie tickets.’ I remember our agent called up the editor of Us Weekly, begging her not to put him on the cover any more: Please stop. Just stop! And she said, ‘My hands are tied. He’s still moving magazines all through the mid-West. Sorry.’ So he was aware of what was happening as it was happening.”


Q: Do you think “Gigli” deserved to be vilified in that way that it was?


A: “There are a lot of movies that cost more and made less than ‘Gigli.’ But for some reason, people think ‘Gigli’ is the biggest bomb of the last decade and it wasn’t. There’s a narrative that gets attached to all this stuff and Ben knew it. He had a millstone around his neck and that’s it.”


Q: As Ben goes through this awards season, what are you feeling?


A: “Now I’m just thrilled. I’m watching him go through it and it’s great. He deserves everything that he’s going to get. Just for going through what he went through, he deserves it. But he deserves it because he made a great movie.”


(Reporting By Zorianna Kit, editing by Jill Serjeant and David Brunnstrom)


Celebrity News Headlines – Yahoo! News





Title Post: Matt Damon “thrilled” for Ben Affleck’s movie awards triumphs
Url Post: http://www.news.fluser.com/matt-damon-thrilled-for-ben-afflecks-movie-awards-triumphs/
Link To Post : Matt Damon “thrilled” for Ben Affleck’s movie awards triumphs
Rating:
100%

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




Read More..

Oil slips below $94 on lower growth in Germany






The price of oil slipped below $ 94 a barrel Tuesday due to concerns about weakening economic growth in Germany and expectations of a rise in U.S. crude stockpiles.


By early afternoon in Europe, benchmark crude for February delivery was down 31 cents to $ 93.83 a barrel in electronic trading on the New York Mercantile Exchange. The contract rose 58 cents to finish at $ 94.15 per barrel in New York on Tuesday.






Germany’s economy grew only 0.7 percent in 2012, suggesting it shrank in the fourth quarter, according to government figures. For 2012, the economy still grew faster than the rest of the 17 European Union countries which use the euro, but it showed a sharp drop over 2011, when it grew 3 percent.


The struggles of Europe’s largest economy corroborated figures released Monday which showed industrial output across the eurozone down in November for the third straight month.


The dispute in Washington about the U.S. debt ceiling was also discouraging oil investors, who will later in the day monitor fresh information on U.S. stockpiles of crude and refined products.


Data for the week ending Jan. 11 is expected to show a rise of 2.5 million barrels in crude oil stocks and of 3 million barrels in gasoline stocks, according to a survey of analysts by Platts, the energy information arm of McGraw-Hill Cos.


The American Petroleum Institute will release its report on oil stocks later Tuesday, while the report from the Energy Department’s Energy Information Administration — the market benchmark — will be out on Wednesday.


Brent crude, used to price international varieties of oil, was down 7 cents to $ 111.81 per barrel on the ICE Futures exchange in London.


In other energy futures trading on the Nymex:


— Wholesale gasoline was down 0.91 cent at $ 2.7628 a gallon.


— Natural gas fell 0.1 cent to $ 3.363 per 1,000 cubic feet.


— Heating oil rose 0.13 cent to $ 3.0638.


___


Pamela Sampson in Bangkok contributed to this report.


Economy News Headlines – Yahoo! News





Title Post: Oil slips below $94 on lower growth in Germany
Url Post: http://www.news.fluser.com/oil-slips-below-94-on-lower-growth-in-germany/
Link To Post : Oil slips below $94 on lower growth in Germany
Rating:
100%

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




Read More..

Retail sales point to firmer consumer spending






By Lucia Mutikani


WASHINGTON (Reuters) – Retail sales rose solidly in December as Americans shrugged off the threat of higher taxes and bought automobiles and a range of other goods, suggesting momentum in consumer spending as the year ended.






Other data on Tuesday showed inflation pressures remained muted, with wholesale prices declining for a third straight month in December. That should allow the Federal Reserve to stay on its very easy monetary policy path to nurse the recovery.


Retail sales increased 0.5 percent after rising 0.4 percent in November, the Commerce Department said. Economists polled by Reuters had expected sales to rise only 0.2 percent.


Sales were up 4.7 percent from December 2011 and rose 5.2 percent for the whole of 2012.


“That does suggest a resilient consumer in the face of the fiscal cliff debates. It offers a favorable sign for fourth-quarter growth,” said Joe Manimbo, a senior market analyst at Western Union Business Solutions in Washington.


So-called core sales, which strip out automobiles, gasoline and building materials and correspond most closely with the consumer spending component of gross domestic product, increased 0.6 percent after advancing 0.5 percent in November.


The second straight month of gains in core sales suggested consumer spending picked up in the fourth quarter after rising at a annual pace of 1.6 percent in the July through September period.


While economists did not immediately raise their GDP estimates for the final three months of 2012 in response to the data, they said the risks were tilted to the upside. Last week, analysts slashed their growth forecasts in the wake of a wider trade deficit in November.


Higher taxes are expected to keep consumer spending tepid early this year and a looming fight over raising the country’s debt ceiling could dent consumer sentiment.


Economists estimate that tax increases which kicked in this month could shave as much as 1.2 percentage points off consumer spending in the first quarter.


In a second report, the Labor Department said its seasonally adjusted producer price index slipped 0.2 percent last month. Economists polled by Reuters had expected prices at farms, factories and refineries to drop 0.1 percent last month.


Wholesale prices, excluding volatile food and energy costs, rose a modest 0.1 percent, in line with analysts’ forecasts.


Retail sales last month were up almost across the board, with receipts at auto dealerships rising 1.6 percent after increasing 2.7 percent in November.


Sales at service stations fell 1.6 percent, reflecting a 14 cent drop in gasoline prices at the pump. Receipts at gasoline stations declined 4.5 percent in November.


Sales at building materials and garden equipment suppliers were flat after rising 0.8 percent.


There were gains in furniture sales, while sales at clothing retailers rose by the most since February.


Receipts at sporting goods, hobby, book and music stores rose 0.6 percent. Sales at electronics and appliances shops fell 0.6 percent.


(Additional reporting by Jason Lange in Washington and Wanfeng Zhou in New York; Editing by Andrea Ricci)


Yahoo! Finance – Personal Finance





Title Post: Retail sales point to firmer consumer spending
Url Post: http://www.news.fluser.com/retail-sales-point-to-firmer-consumer-spending/
Link To Post : Retail sales point to firmer consumer spending
Rating:
100%

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




Read More..

Wall Street opens lower on debt limit concern

DEAR ABBY: Recently my husband, "Byron," and I had an argument, and he took off in his truck. He didn't return until after work the following day. He had he spent the night at our friend "Arlene's" house. She is divorced and lives alone. Byron assures me "nothing happened" between them. I want to believe him, but ever since this incident, Arlene will not look me in the eye or speak to me.I love Byron and trusted him until now. It hurts to think that our marriage may be ruined over a stupid argument. ...
Read More..

Oprah: Lance Armstrong admitted doping


AUSTIN, Texas (AP) — Lance Armstrong has finally come clean.


Armstrong confessed to doping during an interview with Oprah Winfrey taped Monday, just a couple of hours after a wrenching apology to staff at the Livestrong charity he founded and has now been forced to surrender.


The day ended with 2 1/2 hours of questions from Winfrey at a downtown Austin hotel, where she said the world's most famous cyclist was "forthcoming" as she asked him in detail about doping allegations that followed him throughout his seven Tour de France victories.


Speaking on "CBS This Morning," Winfrey said Tuesday she had not planned to address Armstrong's confession before the interview aired on her OWN network but, "by the time I left Austin and landed in Chicago, you all had already confirmed it."


"So I'm sitting here now because it's already been confirmed," she added.


The session was to be broadcast on Thursday but Winfrey said it will now run in two parts over two nights because there is so much material.


Winfrey would not characterize whether Armstrong seemed contrite but said he seemed ready for the interview. "I would say that he met the moment," she said.


"I don't think 'emotional' begins to describe the intensity or the difficulty he experienced in talking about some of these things."


The confession was a stunning reversal for a proud athlete and celebrity who sought lavish praise in the court of public opinion and used courtrooms to punish his critics.


For more than a decade, Armstrong dared anybody who challenged his version of events to prove it. Finally, he told the tale himself after promising over the weekend to answer Winfrey's questions "directly, honestly and candidly."


The cyclist was stripped of his Tour titles, lost most of his endorsements and was forced to leave Livestrong last year after the U.S. Anti-Doping Agency issued a damning, 1,000-page report that accused him of masterminding a long-running doping scheme.


The International Cycling Union, or UCI, issued a statement on Tuesday saying it was aware of the reports that Armstrong had confessed to Winfrey. The governing body for the sport urged Armstrong to tell his story to an independent commission it has set up to examine claims it covered up suspicious samples from the cyclist, accepted financial donations from him and helped him avoid detection in doping tests.


Armstrong started Monday with a visit to the headquarters of Livestrong, the charity he founded in 1997 and turned into a global force on the strength of his athletic dominance and personal story of surviving testicular cancer that had spread to his lungs and brain.


About 100 Livestrong staff members gathered in a conference room as Armstrong told them "I'm sorry." He choked up during a 20-minute talk, expressing regret for the long-running controversy tied to performance-enhancers had caused, but stopped short of admitting he used them.


Before he was done, several members were in tears when he urged them to continue the charity's mission, helping cancer patients and their families.


"Heartfelt and sincere," is how Livestrong spokeswoman Katherine McLane described his speech.


Armstrong later huddled with almost a dozen people before stepping into a room set up at a downtown Austin hotel for the interview with Winfrey. The group included close friends and lawyers. They exchanged handshakes and smiles, but declined comment.


Winfrey has promoted her interview, one of the biggest for OWN since she launched the network in 2011, as a "no-holds barred" session, and after the voluminous USADA report — which included testimony from 11 former teammates — she said she went into the session with 112 questions ready to go. Not all of them were asked, she said, but many were.


USADA chief executive Travis Tygart, a longtime critic of Armstrong's, called the drug regimen practiced while Armstrong led the U.S. Postal Service team "the most sophisticated, professionalized and successful doping program that sport has ever seen." USADA did not respond to requests for comment about Armstrong's confession.


For years, Armstrong went after his critics ruthlessly during his reign as cycling champion. He scolded some in public and didn't hesitate to punish outspoken riders during the race itself. He waged legal battles against still others in court.


At least one of his opponents, the London-based Sunday Times, has already filed a lawsuit to recover about $500,000 it paid him to settle a libel case, and Dallas-based SCA Promotions, which tried to deny Armstrong a promised bonus for a Tour de France win, has threatened to bring another lawsuit seeking to recover more than $7.5 million awarded by an arbitration panel.


In Australia, the government of South Australia state said Tuesday it will seek the repayment of several million dollars in appearance fees paid to Armstrong for competing in the Tour Down Under in 2009, 2010 and 2011.


"We'd be more than happy for Mr. Armstrong to make any repayment of monies to us," South Australia Premier Jay Weatherill said.


Betsy Andreu, the wife of former Armstrong teammate Frankie Andreu, was one of the first to publicly accuse Armstrong of using performance-enhancing drugs. She called news of Armstrong's confession "very emotional and very sad," and choked up when asked to comment.


"He used to be one of my husband's best friends and because he wouldn't go along with the doping, he got kicked to the side," she said. "Lance could have a positive impact if he tells the truth on everything. He's got to be completely honest."


Betsy Andreu testified in SCA's arbitration case challenging the bonus in 2005, saying Armstrong admitted in an Indiana hospital room in 1996 that he had taken many performance-enhancing drugs, a claim Armstrong vehemently denied.


"It would be nice if he would come out and say the hospital room happened," Andreu said. "That's where it all started."


Former teammate Floyd Landis, who was stripped of the 2006 Tour de France title for doping, has filed a federal whistle-blower lawsuit that accused Armstrong of defrauding the U.S. Postal Service. An attorney familiar with Armstrong's legal problems told the AP that the Justice Department is highly likely to join the lawsuit. The False Claims Act lawsuit could result in Armstrong paying a substantial amount of money to the U.S. government. The deadline for the department to join the case is Thursday, though the department could seek an extension if necessary.


According to the attorney, who works outside the government, the lawsuit alleges that Armstrong defrauded the U.S. government based on his years of denying use of performance-enhancing drugs. The attorney spoke on condition of anonymity because the source was not authorized to speak on the record about the matter.


The lawsuit most likely to be influenced by a confession might be the Sunday Times case. Potential perjury charges stemming from Armstrong's sworn testimony in the 2005 arbitration fight would not apply because of the statute of limitations. Armstrong was not deposed during the federal investigation that was closed last year.


Armstrong is said to be worth around $100 million. But most sponsors dropped him after USADA's scathing report — at the cost of tens of millions of dollars — and soon after, he left the board of Livestrong.


After the USADA findings, he was also barred from competing in the elite triathlon or running events he participated in after his cycling career. World Anti-Doping Code rules state his lifetime ban cannot be reduced to less than eight years. WADA and U.S. Anti-Doping officials could agree to reduce the ban further depending on what information Armstrong provides and his level of cooperation.


___


Litke reported from Chicago. Pete Yost in Washington also contributed to this report.


Read More..

Is China easing up on local media?




A protester calls for greater media freedom outside the headquarters of Nanfang Media Group in Guangzhou on Jan. 9.




STORY HIGHLIGHTS


  • Young: Handling of Southern Weekly row demonstrated tolerant side of new leadership

  • Traditional, newer media can serve as tools for achieving goals in China's modernization

  • The fight against corruption in China is at the top of the list for incoming leader, Xi Jinping

  • Young: Media has also emerged as an important tool for combating other social problems




Editor's note: Doug Young teaches financial journalism at Fudan University in Shanghai and is the author of The Party Line: How the Media Dictates Public Opinion in Modern China published by John Wiley & Sons. He also writes daily on his blog, Young's China Business Blog, commenting on the latest developments in China's fast-moving corporate scene.


Shanghai, China (CNN) -- China's traditional iron-handed approach to the media has taken a surprise turn of tolerance with Beijing's soft handling of a recent dispute with local reporters, in what could well become a more open attitude toward the media under the incoming administration of presumed new President Xi Jinping.


The new openness is being driven in large part by pragmatism, as the government realizes that both traditional and newer media can serve as powerful tools for achieving many of its goals in the country's modernization.


The recent conflict between reporters at the progressive Southern Weekly and local propaganda officials over a censorship incident left many guessing how the government would respond to the first clash of its kind in China for more than 20 years. The result was a surprisingly mild approach, including mediation by a high-level government official and a vague promise for less censorship in the future.


Read: Censorship protest a test for China


The unusually tolerant tack could well reflect a new attitude by Xi and other incoming leaders set to take control of China for the next decade, all of whom have come to realize the media can serve many important functions beyond its traditional role as a propaganda machine.


At the top of Xi's list is the fight against corruption, a problem he has mentioned frequently since taking the helm of the Communist Party last year. The party has tried to tackle the problem for years using its own internal investigations, but progress was slow until recently due to protection many officials received through their own sprawling networks of internal relationships, known locally as guanxi.










Read: Corruption as China's top priority


All that began to change in the last two years with the rapid rise of social media, most notably the Twitter-like microblogs known as Weibo that are now a pervasive part of the Chinese Internet landscape and count hundreds of millions of ordinary Chinese among their users. Those social media have become an important weapon for exposing corruption, allowing thousands of ordinary citizens to pool their resources and build cases against officials they suspect of using their influence for personal gain.


This increasingly sophisticated machine was on prominent display last year in a case involving Yang Dacai, a local official in northwestern Shaanxi province who infuriated the online community by smiling at the site of a horrific accident scene. Netizens quickly turned their outrage into an online investigation, and uncovered photos of him wearing several luxury watches he could hardly afford on his government salary. As a result, the government ultimately opened an investigation into the matter and Yang was sacked from his posts.


In addition to its role in battling corruption, the media has also emerged as an important tool for combating and addressing many of the other social problems that China is facing in its rapid modernization. Barely a week goes by without a report on the latest national food safety scandal or case of illegal pollution in both traditional and social media, with such reports often followed by government investigations.


Beijing leaders have also discovered that the media can also be an important vehicle for improving communication between the government and general public -- something that was a low priority in previous eras when officials only cared about pleasing their higher-up party bosses.


Following a Beijing directive in late 2011, most local government agencies and other organizations have all established microblog accounts, which they use to keep the public informed about their latest activities and seek feedback on upcoming plans. Such input has become a valuable way to temper traditional public mistrust toward the government, which historically didn't make much effort to include the public in any of its internal discussions.


Lastly, the government has also discovered that media, especially social media, can be an effective tool in gauging public opinion on everything from broader national topics like inflation down to very local issues like land redevelopment. Such feedback was difficult to get in the past due to interference by local officials, who tried to filter out or downplay anything with negative overtones and play things up to their own advantage. As a result, central government officials often received incomplete pictures of what was happening in their own country.


With all of these valuable roles to play, the media has become an increasingly important part of Beijing's strategy in executing many of its top priorities.


The government also realizes that a certain degree of openness is critical to letting the media perform many of those roles, which may explain its relatively tolerant approach in the recent Southern Weekly conflict. Such tolerance is likely to continue under Xi's administration, helping to shift more power towards a field of increasingly emboldened reporters at both traditional and new media and away from their traditional propaganda masters.


Follow @CNNOpinion on Twitter.


Join us at Facebook/CNNOpinion.


The opinions expressed in this commentary are solely those of Doug Young.






Read More..

CBS orders untitled Jim Gaffigan project to pilot






LOS ANGELES (TheWrap.com) – CBS has ordered an untitled Jim Gaffigan project to pilot, the network announced on Friday.


Much like FX’s “Louie,” the proposed single-camera series sounds as if it will be largely autobiographical on the stand-up comic’s life.






Executive produced and written by both Gaffigan and Peter Tolan (“Rescue Me”), Gaffigan will star as the happily married and harried father of five living in New York City.


Gaffigan’s manager, Alex Murray, will also serve as an executive producer on the Sony Television production, along with Michael Wimer of Tolan’s Fedora Entertainment.


Gaffigan has starred in a number of television and film projects over the years, including TBS’ “My Boys,” but most recently won an Emmy for his 2012 comedy album “Mr. Universe.”


His newest book, “Dad is Fat,” hits shelves this May.


TV News Headlines – Yahoo! News





Title Post: CBS orders untitled Jim Gaffigan project to pilot
Url Post: http://www.news.fluser.com/cbs-orders-untitled-jim-gaffigan-project-to-pilot/
Link To Post : CBS orders untitled Jim Gaffigan project to pilot
Rating:
100%

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




Read More..