Wall Street to open lower after Tuesday rally, results eyed

NEW YORK (Reuters) - Stocks were poised to open lower Wednesday, indicating the S&P 500 may retreat as it faces resistance to further gains beyond five-year highs in the wake of a 1-percent rally on Tuesday.


A 6-percent advance this year so far has lifted the S&P 500 index to its highest since December 2007, while the Dow <.dji> briefly climbed above 14,000, making it a challenge for investors to continue pushing the equity market upward amid a dearth of fresh trading incentives.


Walt Disney Co beat estimates for quarterly adjusted earnings and said it expected the next few quarters to be better, with a stronger lineup of movies and rising attendance at its theme parks. Shares advanced 2.8 percent to $55.81 in premarket trading.


"You knew a correction was coming; the question was whether they were going to tease you and get it close and then start selling it off or get it up to 14,000 and then start to make a move to the sell side," said Gordon Charlop, managing director at Rosenblatt Securities in New York.


"We got a quick move and it's really just not healthy for markets to go one way, so the idea that a little bit of a correction is due isn't troublesome to me at all."


According to Thomson Reuters data through Tuesday morning, of 278 companies in the S&P 500 <.spx> that have reported earnings, 68.7 percent have exceeded analysts' expectations, above a 62 percent average since 1994 and 65 percent over the past four quarters. In terms of revenue, 66 percent of companies have topped forecasts.


In another positive sign for profits, fourth-quarter earnings for S&P 500 companies are now expected to grow 4.5 percent, according to the data, above a 1.9 percent forecast at the start of the earnings season.


S&P 500 futures fell 6 points and were below fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures lost 51 points, and Nasdaq 100 futures declined 9.75 points.


The benchmark S&P index rose 1.04 percent Tuesday, its biggest percentage gain since a 2.5-percent advance on January 2, when legislators sidestepped a "fiscal cliff" of spending cuts and tax hikes that could have hurt a fragile U.S. economic recovery.


Visa , the world's largest credit and debit card network, is expected to report earnings per share of $1.79 for its first quarter, up from $1.49 a year earlier. Smaller rival MasterCard recently reported better-than-expected results but said its revenue growth could slow in the first half of the year due to economic uncertainty.


Ralph Lauren Corp climbed 5.5 percent to $174 in premarket trading after the fashion company and retailer reported holiday quarter sales and profits that showed renewed momentum.


Time Warner Inc gained 3.1 percent to $51.49 before the bell after reporting higher fourth-quarter profit that beat Wall Street estimates, as growth in its cable networks offset declines in its film, TV entertainment and publishing units.


(Editing by Bernadette Baum)



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Richard III still the criminal king



















Richard III on stage and screen


Richard III on stage and screen


Richard III on stage and screen


Richard III on stage and screen


Richard III on stage and screen


Richard III on stage and screen


Richard III on stage and screen


Richard III on stage and screen


Richard III on stage and screen


Richard III on stage and screen


Richard III on stage and screen


Richard III on stage and screen





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STORY HIGHLIGHTS


  • Dan Jones: Richard III's remains found; some see chance to redeem his bad reputation

  • Jones says the bones reveal and confirm his appearance, how he died and his injuries

  • Nothing changes his rep as a usurper of the Crown who likely had nephews killed, Jones says

  • Jones: Richard good or bad? Truth likely somewhere in between




Editor's note: Dan Jones is a historian and newspaper columnist based in London. His new book, "The Plantagenets" (Viking) is published in the US this Spring. Follow him on Twitter.


(CNN) -- Richard III is the king we British just can't seem to make our minds up about.


The monarch who reigned from 1483 to 1485 became, a century later, the blackest villain of Shakespeare's history plays. The three most commonly known facts of his life are that he stole the Crown, murdered his nephews and died wailing for a horse at the Battle of Bosworth in 1485. His death ushered in the Tudor dynasty, so Richard often suffers the dual ignominy of being named the last "medieval" king of England -- in which medieval is not held to be a good thing.


Like any black legend, much of it is slander.


Richard did indeed usurp the Crown and lose at Bosworth. He probably had his nephews killed too -- it is unknowable but overwhelmingly likely. Yet as his many supporters have been busy telling us since it was announced Monday that Richard's lost skeleton was found in a car park in Leicester, he wasn't all bad. In fact, he was for most of his life loyal and conscientious.



Dan Jones

Dan Jones



To fill you in, a news conference held at the University of Leicester Monday confirmed what archaeologists working there have suspected for months: that a skeleton removed from under a parking lot in the city center last fall was indeed the long-lost remains of Richard III.


His official burial place -- under the floor of a church belonging to the monastic order of the Greyfriars -- had been lost during the dissolution of the monasteries that was carried out in the 1530s under Henry VIII. A legend grew up that the bones had been thrown in a river. Today, we know they were not.


What do the bones tell us?


Well, they show that Richard -- identified by mitochondrial DNA tests against a Canadian descendant of his sister, Anne of York -- was about 5-foot-8, suffered curvature of the spine and had delicate limbs. He had been buried roughly and unceremoniously in a shallow grave too small for him, beneath the choir of the church.


He had died from a slicing blow to the back of the head sustained during battle and had suffered many other "humiliation injuries" after his death, including having a knife or dagger plunged into his hind parts. His hands may have been tied at his burial. A TV show aired Monday night in the UK was expected to show a facial reconstruction from the skull.


Opinion: What will the finding of Richard III mean?



In other words, we have quite a lot of either new or confirmed biographical information about Richard.


He was not a hunchback, but he was spindly and warped. He died unhorsed. He was buried where it was said he was buried. He very likely was, as one source had said, carried roughly across a horse's back from the battlefield where he died to Leicester, stripped naked and abused all the way.


All this is known today thanks to a superb piece of historical teamwork.


The interdisciplinary team at Leicester that worked toward Monday's revelations deserves huge plaudits. From the desk-based research that pinpointed the spot to dig, to the digging itself, to the bone analysis, the DNA work and the genealogy that identified Richard's descendants, all of it is worthy of the highest praise. Hat-tips, too, to the Richard III Society, as well as Leicester's City Council, which pulled together to make the project happen and also to publicize the society and city so effectively.


However, should anyone today tell you that Richard's skeleton somehow vindicates his historical reputation, you may tell them they are talking horsefeathers.


Back from the grave, King Richard III gets rehab






Richard III got a rep for a reason. He usurped the Crown from a 12-year old boy, who later died.


This was his great crime, and there is no point denying it. It is true that before this crime, Richard was a conspicuously loyal lieutenant to the boy's father, his own brother, King Edward IV. It is also true that once he was king, Richard made a great effort to promote justice to the poor and needy, stabilize royal finances and contain public disorder.


But this does not mitigate that he stole the Crown, justifying it after the fact with the claim that his nephews were illegitimate. Likewise, it remains indisputably true that his usurpation threw English politics, painstakingly restored to some order in the 12 years before his crime, into a turmoil from which it did not fully recover for another two decades.


So the discovery of Richard's bones is exciting. But it does not tell us anything to justify changing the current historical view of Richard: that the Tudor historians and propagandists, culminating with Shakespeare, may have exaggerated his physical deformities and the horrors of Richard's character, but he remains a criminal king whose actions wrought havoc on his realm.


Unfortunately, we don't all want to hear that. Richard remains the only king with a society devoted to rehabilitating his name, and it is a trait of some "Ricardians" to refuse to acknowledge any criticism of their hero whatever. So despite today's discovery, we Brits are likely to remain split on Richard down the old lines: murdering, crook-backed, dissembling Shakespearean monster versus misunderstood, loyal, enlightened, slandered hero. Which is the truth?


Somewhere in between. That's a classic historian's answer, isn't it? But it's also the truth.


Follow us on Twitter @CNNOpinion.


Join us on Facebook/CNNOpinion.


The opinions expressed in this commentary are solely those of Dan Jones.






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NBCU’s Bonnie Hammer to run Cable; Joe Uva to run Telemundo






LOS ANGELES (TheWrap.com) – NBC Universal‘s executive lineup underwent a shift of responsibilities on Monday, with Bonnie Hammer, NBCU‘s chairman of cable entertainment and cable studios, taking control of NBC Universal’s full cable portfolio, and executive Lauren Zalaznick being promoted to a new role, and former Univision president and CEO Joe Uva taking over NBCU’s Spanish-language network Telemundo.


Under her new expanded duties, Hammer (pictured) will oversee Bravo, Oxygen, Style, Sprout and TV One adding to her existing duties of overseeing USA Network, SyFy, E!, G4, Cloo, Chiller and other properties. The newly consolidated collection of networks will be renamed Cable Entertainment Group.






Zalaznick, who has been serving as chairman of NBC Universal Entertainment & Digital Networks and Integrated media, has been promoted to the new position of EVP NBCUniversal, where she’ll focus on “innovation, digital, monetization and emerging technology across the company,” NBC Universal CEO Steve Burke told employees in an internal email.


Uva, meanwhile, has been tapped for the newly created position of NBCU’s chairman of Hispanic Enterprises and Content, a position that will include running the company’s Spanish language networks Telemundo and mun2. Uva stepped down as president and CEO of Univsion in June 2011.


Hammer and Zalaznick will assume their new responsibilities immediately, while Uva will come aboard April 3.


Burke, who’s enacted similar restructurings for NBCU’s sports and news divisions, said that the restructuring will help streamline things while allowing for better exploitation of the company’s assets.


“Our business is more dynamic and challenging than at any point in its history,” Burke wrote in a memo to his staff. “Now, more than ever, we need to simplify our organization and take advantage of the breadth of our assets. At the same time, we need to focus more on innovation and emerging technologies. These organization changes are designed to do just that,” Burke wrote.


TV News Headlines – Yahoo! News





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Wall Street rebounds from steep decline


NEW YORK (Reuters) - U.S. stocks rose on Tuesday, rebounding from their worst daily loss since November in the prior session.


The Dow Jones industrial average <.dji> was up 84.21 points, or 0.61 percent, at 13,964.29. The Standard & Poor's 500 Index <.spx> was up 9.12 points, or 0.61 percent, at 1,504.83. The Nasdaq Composite Index <.ixic> was up 10.31 points, or 0.33 percent, at 3,141.48.


(Reporting By Angela Moon; Editing by Kenneth Barry)



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Niners have better chance than Ravens to be back


NEW ORLEANS (AP) — The Baltimore Ravens carried off the Lombardi Trophy. Their beaten opponent has a better chance of doing it next season.


San Francisco running back Frank Gore insisted the 49ers were the more talented team even after losing 34-31 to the Ravens in Sunday's Super Bowl. The scoreboard said otherwise, but when the conference champions meet at the Meadowlands next February — yes, outdoors in the dead of winter for the NFL crown — the Niners easily could represent the NFC.


Again.


"I'd say we've got a great group of guys in the locker room, great warriors," Gore said, "and I'm not going to promise anything next year, but we're going to fight to get back here."


The toughest fight might be in their own division with Seattle and rapidly improving St. Louis. The Seahawks were the only team to allow fewer points than the 49ers, and their rivalry — including the semi-feud between coaches Jim Harbaugh and Pete Carroll — adds spice to the NFC West.


But the 49ers have to be the NFC favorite after losing in overtime to the Giants for the conference title last year, then barely falling to the Ravens on Sunday night.


"This is kind of tough, to get this far and let everything slip away through your hands," said Ahmad Brooks, part of the best linebacking corps in the league, along with All-Pros Patrick Willis, Aldon Smith and NaVorro Bowman. "The funny thing about it is, within the next few months, we're going to start trying to get back to the same place that we're at right now."


As will the Ravens, but their challenge is more imposing.


Unlike the 49ers, who figure to lose virtually no important parts — receiver Randy Moss, perhaps, but he was a marginal player in 2012 — the Ravens have bid adieu to their greatest player, linebacker Ray Lewis. Not only will they miss his performances on the field and his presence in the locker room, but he was the emotional engine in Baltimore.


The leadership burden will fall on two players whose contracts have expired but likely will be back with the Ravens: Super Bowl MVP quarterback Joe Flacco and veteran safety Ed Reed.


Flacco almost certainly will get the franchise tag at more than $14 million if he can't agree to a long-term deal. But in the current NFL, winning without a top-level QB is impossible, and there can be no arguing now about Flacco belonging in that class.


Reed wants to return and the Ravens recognize how unwise it would be to let both Lewis and Reed leave at the same time — even after winning their second Super Bowl in 12 seasons.


"I always said when I came into the league and got drafted that I didn't want to be one of those guys jumping from team to team," Reed said during Super Bowl week.


Regardless, the Ravens will be a force — odds makers have placed them behind New England and Denver in the AFC next season — and one of the NFL's most prolific offensive teams.


Flacco throwing to the superb trio of wide receivers Anquan Boldin and Torrey Smith and tight end Dennis Pitta, plus the versatility of running back Ray Rice and a stud backup in Bernard Pierce says so. Flacco's protection from the line and All-Pro fullback Vonta Leach was impeccable in the postseason, helping Flacco throw for a record-tying 11 TDs with no interceptions.


The defense, oddly enough considering Baltimore's reputation, needs some work. But linebacker Terrell Suggs will be even healthier — he came back quickly from a torn Achilles tendon — and top cornerback Lardarius Webb returns from a knee injury.


Just like the 49ers, the Ravens have a tough task in their division. Cincinnati is young, but has made the playoffs the last two years. Pittsburgh never remains dormant for long.


Should these two clubs make it to the first outdoor Super Bowl at a cold-weather site, would Baltimore have the edge because it's used to such conditions? And because it's a three-hour drive from MetLife Stadium, will Ravens fans be out in force even more than they were in the Big Easy?


Or would the 49ers' immense talent base be overwhelming?


Food for thought over the next 11 months.


"We've got to look at this as a blessing because we didn't have to be here, but we made it," tight end Vernon Davis said. "We've always got next year; we've got next season. We might as well look forward to next season, keep our hopes high and continue to climb."


___


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


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'Stop whining about right-wing media'




Former vice president Al Gore promotes his new book, "The Future" on January 30, 2013 in New York City.




STORY HIGHLIGHTS


  • Al Gore says right-wing media help account for resistance to Democrats' policies

  • President Barack Obama said media coverage could determine future of bipartisanship

  • Howard Kurtz: Fox News, Rush Limbaugh have influence, but White House has bigger voice

  • He says conservative media gained support because of belief established media leaned left




Editor's note: Howard Kurtz is the host of CNN's "Reliable Sources" and is Newsweek's Washington bureau chief. He is also a contributor to the website Daily Download.


(CNN) -- I never realized that the conservative media were so eye-poppingly powerful.


So mighty, in fact, that liberal politicians can't seem to stop talking about how they are running roughshod over the country.



Howard Kurtz

Howard Kurtz



My response: Can we please stop the whining?


The latest to rant about the right is Al Gore. The former vice president told Charlie Rose that President Barack Obama had been cautious, and when the CBS anchor asked whether there was "a very hostile environment for progressive ideas," Gore had his culprit ready:



"Fox News and right-wing talk radio. In Tennessee there's an old saying if you see a turtle on a fence post you can be pretty sure it didn't get there by itself. And the fact that we have 24/7 propaganda masquerading as news, it does have an impact."


Watch: Why Geraldo Rivera's Senate hopes are an empty vault


OK, Gore doesn't like Fox. So he started what he hoped would be a liberal counterweight in Current TV, spent millions on such stars as Keith Olbermann, and ... the channel flopped. It was such a failure that he just sold it to Al Jazeera for an estimated personal take of $100 million.










Leave aside the obvious contradiction of a climate change crusader selling to a network largely financed by the petrodollar kingdom of Qatar. Whatever you think of Fox, Rupert Murdoch's network has been a financial success and Current TV was anything but. Isn't that the free market at work?


Watch: The media's gushing send-off for Hillary Clinton


Obama often invokes the conservative media, most recently in an interview with The New Republic. Asked about working with Republicans in his second term, the president said: "One of the biggest factors is going to be how the media shapes debates. If a Republican member of Congress is not punished on Fox News or by Rush Limbaugh for working with a Democrat on a bill of common interest, then you'll see more of them doing it."


Now it's true that Fox or Limbaugh can boost or batter any lawmaker, and that they can help drive a controversy into the broader mainstream media. But we're talking here about the president of the United States. He has an army, a navy and a bunch of nuclear weapons, not to mention an ability to command the airwaves at a moment's notice. And he's complaining about a cable channel and a radio talk-show host?


Limbaugh later offered this response: "If Fox News and I are the only thing keeping the Republicans from caving to Barack Obama on every issue, I'm not paid enough."


Watch: Does Sarah Palin have a future after Fox?


I have been through this before. It was on my "Reliable Sources" program, in the fall of 2009, that the White House declared war on Fox News. Anita Dunn, then the White House communications director, called Fox "the communications arm of the Republican Party" and said, "It is not really a news network anymore."


The resulting furor gave Fox months of fodder and was widely judged a tactical misstep that if anything elevated the network's role.


There are times when many Fox programs, including in the nonopinion hours, appear to be on a jihad against the administration. And these days, MSNBC can be counted on to defend the Democrats almost around the clock.


But let's face it: These are cable channels with relatively modest audiences, and their impact is sometimes exaggerated inside the Beltway echo chamber. After all, Obama handily won re-election despite the best efforts of Sean Hannity and Limbaugh.


Watch: New York Times censors company's vulgar name


What liberals sometimes forget is that the conservative media took root because many Americans felt the fourth estate was too left-wing. ABC, NBC, CBS, NPR, The New York Times and The Washington Post all strive for fairness, in my view, but there is little question that they have a social and cultural outlook that leans to the left. Collectively, they have far more weight than Fox, talk radio and The Wall Street Journal editorial page.


Right-wing pundits make a convenient foil, but at times Obama seems to magnify their importance. After all, he's got the biggest bully pulpit of all.


Follow us on Twitter @CNNOpinion.


Join us on Facebook/CNNOpinion.


The opinions expressed in this commentary are solely those of Howard Kurtz.






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Bolshoi ballet chief heads to Germany after attack






MOSCOW (AP) — The artistic director of the Bolshoi ballet said he knows who ordered an acid attack that left him with severe burns to his eyes and face but won’t say, voicing hope that investigators will soon name the perpetrator.


Sergei Filin checked out of a Moscow hospital Monday and headed to Germany for further rehabilitation.






Filin, 42, wore shades and a bandage on his head, and skin on his face was red and swollen from burns. But he spoke energetically and seemed to be in a good mood as he walked out of the hospital accompanied by his wife.


“My body is full of strength and energy,” he told reporters.


Filin earlier told Russian state television that he knew who ordered the attack but wouldn’t give names. “My heart tells me who did it,” Filin told Rossiya 24 television in an interview broadcast late Sunday.


He said that investigators would visit him in Germany as part of the continuing probe.


An attacker threw sulphuric acid in Filin’s face in Moscow on Jan. 17, as he was returning home from work.


“I felt enormous, unbearable pain,” Filin recalled in the television interview. “I fell face down in the snow and started rubbing my face and eyes with snow.”


His colleagues said the attack on Filin could be in retaliation for his selection of certain dancers over others for the prized roles.


The Bolshoi has been plagued by intrigue and infighting that have led to the departure of several artistic directors over the past few years.


Filin told reporters Monday as he was leaving the hospital that he’s still seeing as if through a mist as his eye treatment is continuing, and added that he will have to undergo further eye surgery in Germany.


“I don’t care about my face, my hair, my looks,” he said in the television interview. “I’m ready to be completely bald, look like a Frankenstein. It will have no impact on my heart, on my soul. All my inner self, all my energy is focused on recovering eyesight.”


Entertainment News Headlines – Yahoo! News





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Centrica withdraws nuclear plans







Centrica has withdrawn from the UK’s nuclear re-building programme because of increasing costs and delays.






The move further reduces the involvement of UK companies in the massive nuclear project.


Centrica, which owns British Gas, had the option of taking a 20% stake in four new reactors in a partnership with EDF, the French state-owned utility.


Centrica said “the project costs in new nuclear have increased and the construction timetable has extended”.


The nuclear plants being proposed by EDF would be the first such facilities to be built in the UK since 1995. Without Centrica’s investment, the companies behind the projects are likely to have to find alternative backers.


Last month, EDF said it would start discussions with Chinese state-owned nuclear company CGNPC about joining the partnership to build the next generation of UK nuclear plants.


Centrica’s move follows a decision by German utilities E.On and RWE to quit the nuclear sector after Japan’s Fukushima disaster in 2011. In October, they sold their interest in Horizon Nuclear Power, which was to build reactors at sites near Anglesey and Bristol, to Japan’s Hitachi.


Centrica’s 20% interest in the eight existing nuclear power stations in the UK is unaffected by the decision.


Centrica’s intention had been to get involved in the two new reactors at Hinkley Point, in Somerset, and two at Sizewell, in Suffolk.


‘Not right for Centrica’


The company said in a statement: “With pre-development expenditure on the project approaching the agreed £1bn cap, Centrica’s decision not to proceed follows a detailed appraisal of the project.


“While there has been progress in a number of key project areas, particularly design and planning, there remains uncertainty about overall project costs and the construction schedule. Centrica’s 20% share of the pre-development expenditure will be written off as an exceptional cost in the group’s 2012 results.”


The company’s chief executive, Sam Laidlaw, added in the same statement: “Since our initial investment, the anticipated project costs in new nuclear have increased and the construction timetable has extended by a number of years.


“These factors, in particular the lengthening time frame for a return on the capital invested in a project of this scale, have led us to conclude that participation is not right for Centrica and our shareholders.”


Later, at a news conference, he added that the Fukushima disaster had had a “knock-on impact” on the schedule to build plants in the UK.


A Department of Energy and Climate Change spokesman said: “We are determined to make the UK a leading global destination for investment in new nuclear, which will play a key role in our future energy mix.


“We welcome EDF Energy’s continued commitment and determination to take forward the Hinkley Point C project. The decision by Centrica reflects the company’s investment priorities and is not a reflection on UK Government policy.


“The recent purchase of Horizon Nuclear Power by Hitachi is clear evidence of the attractiveness of the new nuclear market in the UK.”


EDF said it respected Centrica’s decision, adding: “EDF Energy was prepared for this decision and understands that the profile and scale of this investment may not meet Centrica’s shareholders’ current expectations and priorities.”


Centrica’s news follows publication on Monday of a report by the Commons Public Accounts Committee which showed that the “enormous” legacy of nuclear waste at Sellafield in Cumbria had been allowed to build up,


It said the cost of decommissioning the site had reached £67.5bn, with no indication of when the expense would stop rising.


BBC News – Business





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School turnarounds prompt community backlash






LOS ANGELES (AP) — The federal government’s push for drastic reforms at chronically low achieving schools has led to takeovers by charter operators, overhauls of staff and curriculum, and even school shutdowns across the country.


It’s also generated a growing backlash among the mostly low-income, minority communities where some see the reforms as not only disruptive in struggling neighborhoods, but also as civil rights violations since turnaround efforts primarily affect black and Latino students.






“Our concern is that these reforms have further destabilized our communities,” said Jitu Brown, education organizer of Chicago’s Kenwood-Oakwood Community Organization. “It’s clear there’s a different set of rules for African-American and Latino children than for their white counterparts.”


The U.S. Department of Education’s civil rights office has opened investigations into 33 complaints from parents and community members, representing 29 school districts ranging from big city systems such as Chicago, Detroit and Washington D.C. to smaller cities including Wichita and Ambler, Penn., said spokesman Daren Briscoe. Two additional complaints are under evaluation, and more cities, including Los Angeles, are preparing their filings.


Last week, Secretary Arne Duncan fielded complaints at a public forum in Washington. The forum was attended by some 250 people who boarded buses, vans and planes from around the country to demand a moratorium on school closings and present a reform model that calls for more community input, among other items.


The recurrent theme is that communities are fed up with substandard education, but want solutions that will not create upheaval at the schools, which are often seen as pillars of stability in neighborhoods where social fabric is fragile.


Instead of focusing on dramatically changing the structure of a school, officials should invest in improving teaching, learning, equipment, and community engagement, which happens more often at schools in white, affluent neighborhoods, Brown said.


“But the response of the school district is to throw a grenade into our schools,” Brown said.


Reformers say civil rights complaints are misguided because school failure disproportionately impacts minorities in the first place. Turnarounds are efforts to improve that, said Michael Petrilli, executive vice president of the Thomas B. Fordham Institute, an education think tank.


However, he noted that turnarounds are often a “Band-Aid solution. Most of the turnarounds aren’t going to succeed because the school continues to exist in a dysfunctional school system. Radical change at the district may be what’s needed.”


Federal officials said they are open to working with communities to lessen the impact of turnarounds.


“On the ground, these policies can have an impact we don’t see,” Briscoe said. “But there’s no promise that we’ll be able to satisfy all people.”


Overhauling the nation’s 5,000 lowest-performing schools is a cornerstone of the Obama administration’s education policy. To do that, the federal government revamped the existing School Improvement Grant program, boosting it from a $ 125 million annual initiative in 2007 to $ 535 million for the current school year.


Under the renewed program, which launched in 2010 with a onetime $ 3.5 billion infusion, districts receive grants to institute one of four school jumpstart models. They can turn the school over to a charter or other operator, replace at least half of the staff and principal, transform the school with a new principal and learning strategy, or simply close the school. Improvement schools can receive up to $ 2 million annually for three years.


Results have been mixed.


In Chicago, where the nation’s third largest school system has undertaken one of the more extensive turnaround programs, a study of 36 schools by the University of Chicago found some improvement in academic achievement in elementary and middle schools but not until the second or third year of either a principal or staff replacement or a charter conversion.


“They’re closing the gap but it’s taking some time to do so,” said Marisa de la Torre, who directed the study.


With high schools, researchers did not have academic data to parse, so instead looked at attendance rates, which are often a good indicator of performance, de la Torre said. Attendance rates improved in the first year of a turnaround, but then reverted to pre-turnaround rates. “We can’t really say if the glass is half full or half empty,” de la Torre said.


A study released last May found graduation rates and college-prep course participation increased dramatically at a Los Angeles high school in the Watts section taken over by charter Green Dot Public Schools in 2008. The National Center for Research on Evaluation, Standards and Student Testing called the new Locke High School “an impressive success story in many ways,” but noted overall achievement remains low.


To boost academic performance, Green Dot now plans to revamp its ninth-grade curriculum to offer more remedial help and open a middle school to better prepare kids for high school.


With no guarantee that turnarounds produce solid results quickly, some question whether drastic reform is worth the disruption, and whether less radical changes could work as well given adequate time and funding.


“We take issue with experimental reforms such as these when it is only children of color who are the subject of the experiment and especially when the experiment has already failed,” wrote Jonathan Stith of Empower DC in his federal complaint about Washington D.C. schools.


Staff replacements have proven especially problematic at schools where teachers have to reapply for their jobs. Many don’t reapply out of resentment and it’s hard to find experienced teachers who want to work in an urban classroom.


A study by the National Education Policy Center found that in turnaround schools in Louisville, Ken., 40 percent of teachers were fresh out of college. Other reformed schools have had to start off with substitutes.


“Teachers are like their surrogate parents,” said Christina Lewis, a special education teacher at Crenshaw High School in Los Angeles, where teachers will have to reapply for jobs in the fall when the school is converted to a magnet. “I’m so afraid that teachers who have put their hearts and souls into their jobs won’t return next year. We just need stability and resources.”


Experts also note that impoverished children often rely on schools for meals, positive role models, and mentors for personal issues, as well as education. Trust built with familiar faces in the school community gets severed by drastic reforms, said John Rogers, director at the University of California Los Angeles’ Institute for Democracy, Education and Access.


Several students at Crenshaw High School in Los Angeles, where teachers must reapply for their jobs when the school is converted to a magnet program next fall, said it was disconcerting not to know who or what to expect.


“We have a lot of kids in foster care. Their lives are changing all the time,” said Crenshaw student Anita Parker. “We have teachers who ask me if I need to talk. We have teachers who care about us.”


The prospect of a civil rights complaint does not faze Los Angeles Unified Superintendent John Deasy, who has several high schools on his turnaround list. For Deasy, the real civil rights issue is that these schools have been allowed to fail for so long.


Crenshaw High School, the turnaround that is spurring community advocates to file the complaint, is the lowest performing school in the nation’s second-largest system, a fact that Deasy called “immoral” at a recent school board meeting.


Just three percent of students are proficient in math and 17 percent in reading. Just 37 percent of students attend school 96 percent of the time. Just half of the class of 2012 graduated.


“Students aren’t learning. Students aren’t graduating,” he said. “The purpose of this decision is to make sure Crenshaw gets dramatically and fundamentally better.”


School board member Marguerite P. LaMotte, the board’s only black member who represents the Crenshaw area, said she was angry that every effort to reform Crenshaw had gone nowhere and civil rights was about improving the school: “We have got to change something at Crenshaw for the better.”


______


Contact the reporter at http://twitter.com/ChristinaHoag.


Yahoo! Finance – Personal Finance





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Wall Street opens lower after recent gains


NEW YORK (Reuters) - U.S. stocks opened lower on Monday, dipping after a recent rally that took the S&P 500 to a five-year high and the Dow to 14,000 for the first time since October 2007.


The Dow Jones industrial average <.dji> was down 58.67 points, or 0.42 percent, at 13,951.12. The Standard & Poor's 500 Index <.spx> was down 6.84 points, or 0.45 percent, at 1,506.33. The Nasdaq Composite Index <.ixic> was down 18.33 points, or 0.58 percent, at 3,160.77.


(Reporting by Ryan Vlastelica; Editing by Kenneth Barry)



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