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Wednesday, January 30, 2013
Immigration overhaul? GOP, Dem senators vow action
Sen. Marco Rubio, R-Fla., center, takes a reporter's question as a bipartisan group of leading senators announce that they have reached agreement on the principles of sweeping legislation to rewrite the nation's immigration laws, during a news conference at the Capitol in Washington, Monday, Jan. 28, 2013. From left are Sen. John McCain, R-Ariz., Sen. Charles Schumer, D-N.Y., and Sen. Marco Rubio, R-Fla. The deal covers border security, guest workers and employer verification, as well as a path to citizenship for the 11 million illegal immigrants already in this country. (AP Photo/J. Scott Applewhite)
Sen. Marco Rubio, R-Fla., center, takes a reporter's question as a bipartisan group of leading senators announce that they have reached agreement on the principles of sweeping legislation to rewrite the nation's immigration laws, during a news conference at the Capitol in Washington, Monday, Jan. 28, 2013. From left are Sen. John McCain, R-Ariz., Sen. Charles Schumer, D-N.Y., and Sen. Marco Rubio, R-Fla. The deal covers border security, guest workers and employer verification, as well as a path to citizenship for the 11 million illegal immigrants already in this country. (AP Photo/J. Scott Applewhite)
Sen. John McCain, R-Ariz., left, and Sen. Charles Schumer, D-N.Y., right, confer as they and other leading senators announce that they have reached agreement on the principles of sweeping legislation to rewrite the nation's immigration laws, during a news conference at the Capitol in Washington, Monday, Jan. 28, 2013. The deal covers border security, guest workers and employer verification, as well as a path to citizenship for the 11 million illegal immigrants already in this country. (AP Photo/J. Scott Applewhite)
Rep. Joe Garcia, D-Fla, states his support for immigrants and pledges to work in favor of immigration reform to reporters as immigration reform activists protest in front of Freedom Tower in downtown Miami, Monday, Jan. 28, 2013. The Florida Immigrant Coalition, together with other immigrant families and community organizations, have initiated the "Di Que Si!" campaign, which translates into English "Say yes!," demanding immigration reform that creates a system that keeps families united. Activists and immigrants also asked for the suspension of deportations as lawmakers work on immigration reform, and announced they will join a national mobilization in favor of immigration reform in Washington D.C. on April 10. (AP Photo/Alan Diaz)
Press Secretary Jay Carney briefs reporters at the White House in Washington, Monday, Jan. 28, 2013. (AP Photo/Charles Dharapak)
A bipartisan group of leading senators announce that they have reached agreement on the principles of sweeping legislation to rewrite the nation's immigration laws, during a news conference at the Capitol in Washington, Monday, Jan. 28, 2013. From left are Sen. John McCain, R-Ariz., Sen. Charles Schumer, D-N.Y., Sen. Marco Rubio, R-Fla., and Sen. Robert Menendez, D-N.J. The deal covers border security, guest workers and employer verification, as well as a path to citizenship for the 11 million illegal immigrants already in this country. (AP Photo/J. Scott Applewhite)
WASHINGTON (AP) ? Side by side, leading Democratic and Republican senators pledged Monday to propel far-reaching immigration legislation through the Senate by summer providing a possible path to citizenship for an estimated 11 million people now in the U.S. illegally.
The senators acknowledged pitfalls that have doomed such efforts in the past, but they suggested that November's elections ? with Hispanics voting heavily for President Barack Obama and other Democrats ? could make this time different.
Passage of the emotionally charged legislation by the Democratic-controlled Senate is far from assured, and a taller hurdle could come later in the House, which is dominated by conservative Republicans who've shown little interest in immigration overhaul. Obama will lay out his own proposals Tuesday, most of which mirror the Senate plans.
Besides the citizenship provision, including new qualifications, the Senate measure would increase border security, allow more temporary workers to stay and crack down on employers who would hire illegal immigrants. The plans are still short on detail, and all the senators conceded that months of tedious and politically treacherous negotiations lie ahead.
But with a re-elected Obama pledging his commitment, the lawmakers argued that six years after the last sustained congressional effort at an immigration overhaul came up short in the Senate, chances for approval this year are much better.
"Other bipartisan groups of senators have stood in the same spot before, trumpeting similar proposals," said Sen. Charles Schumer, D-N.Y. "But we believe this will be the year Congress finally gets it done. The politics on this issue have been turned upside down," Schumer said, arguing that polls show more support than ever for immigration changes and political risk in opposing it.
"Elections. Elections," said Sen. John McCain, R-Ariz. "The Republican Party is losing the support of our Hispanic citizens. And we realize that there are many issues on which we think we are in agreement with our Hispanic citizens, but this is a pre-eminent issue with those citizens."
Obama got 71 percent of the Latino vote in November compared to 27 percent for Republican Mitt Romney.
The president will endorse the Senate process during an event in Las Vegas Tuesday, administration officials said. He will outline a similar vision for overhauling the nation's immigration laws, drawing on the immigration "blueprint" he first released in 2011.
The blueprint focuses on four key areas: a pathway to citizenship for the 11 million illegal immigrants in the U.S., improved border security, an overhaul of the legal immigration system and making it easier for businesses to verify the legal status of workers.
Seeking to ramp up pressure on lawmakers, the White House has prepared formal immigration legislation that it could sent to Capitol Hill should the Senate process stall, administration officials said. The officials spoke on the condition of anonymity in order to discuss internal strategy.
Like the president's blueprint, the Senate proposals also call for a path to citizenship for illegal immigrants already here. But lawmakers want the creation of that pathway to be contingent upon securing the border and better tracking of people in the U.S. on visas.
The Senate's five-page framework also calls for overhauling the legal immigration system, including awarding green cards to immigrants who obtain certain advanced degrees from American universities, creating an effective high-tech employment verification system to ensure that employers do not hire illegal immigrants in the future and allowing more low-skill and agricultural workers.
In a sign of the challenges ahead, the proposals immediately got a cool reaction from Senate Republican Leader Mitch McConnell of Kentucky.
"This effort is too important to be written in a back room and sent to the floor with a take-it-or-leave it approach," McConnell said. "It needs to be done on a bipartisan basis and include ideas from both sides of the aisle."
Sen. Jeff Sessions, R-Ala., said on the Senate floor, "No one should expect members of the Senate are just going to rubber-stamp what a group has met and decided."
Sen. Ted Cruz, R-Texas, said he was concerned about the proposed path to citizenship.
"To allow those who came here illegally to be placed on such a path is both inconsistent with rule of law and profoundly unfair to the millions of legal immigrants who waited years, if not decades, to come to America legally," said Cruz.
A year after Border Patrol apprehensions of illegal border crossers plunged to the lowest levels in nearly 40 years agents have seen a slight increase in arrests, according to Border Patrol arrest data obtained by The Associated Press. In the budget year that ended in September, Border Patrol agents arrested 356,873 would-be border crossers along the Mexican border. In fiscal year 2011, agents along the Mexican border made 327,577 arrests.
Senate Majority Leader Harry Reid, D-Nev., applauded the framework and said, "I will do everything in my power to get a bill across the finish line."
Pressures from outside groups from business to organized labor to immigrants themselves will be immense, even as lawmakers warily eye voters for their reaction.
Besides McCain and Schumer, the senators endorsing the new principles Monday were Democrats Dick Durbin of Illinois, Robert Menendez of New Jersey and Michael Bennet of Colorado and Republicans Lindsey Graham of South Carolina, Marco Rubio of Florida and Jeff Flake of Arizona.
Several of them have worked for years on the issue. McCain collaborated with the late Democratic Sen. Edward M. Kennedy on the comprehensive immigration legislation pushed by then-President George W. Bush that failed in 2007.
The group claims a notable newcomer in Rubio, a potential 2016 presidential candidate whose conservative bona fides may help smooth the way for support among conservatives wary of anything that smacks of amnesty. Rubio has been working with the group while also detailing his own similar immigration proposals to selected media, getting a generally positive reaction from conservative media.
"There are 11 million human beings in this country today that are undocumented. That's not something that anyone is happy about; that's not something that anyone wanted to see happen, but that is what happened. And we have an obligation and the need to address the reality of the situation that we face," Rubio said Monday.
As the group turns to the work of writing legislation, which they hope to see come to a vote in the Senate Judiciary Committee in March, there may be most disagreement over the path to staying in the U.S. legally. In order to satisfy the concerns of Rubio and other Republicans, the senators are calling for the completion of steps on border security and oversight of those here on visas before taking major steps forward on the path to citizenship.
Even then, those here illegally would have to pass background checks and pay fines and taxes in order to qualify for a "probationary legal status" that would allow them to live and work here ? and not qualify for federal benefits ? before being able to apply for permanent residency, a critical step toward citizenship. Once they are allowed to apply they would do so behind everyone else already in line for a green card within the current immigration system.
That could be a highly cumbersome process, but how to make it more workable is being left to future negotiations. The senators envision a more streamlined process toward citizenship for immigrants brought here as children, and for agricultural workers.
Outside groups including Latino advocacy organizations, the U.S. Chamber of Commerce and organized labor were quick to praise the emerging framework. But some also sounded notes of caution.
Richard Trumka, president of the AFL-CIO, questioned a proposal by the Senate group to require illegal immigrants to provide proof of employment before they can gain legal status. Trumka said it could exclude millions of workers "who cannot prove employment because they have been forced to work off the clock or have no employer by virtue of being independent contractors."
Deepak Bhargava, executive director of the Center for Community Change, questioned the process being set out for the path to citizenship. "If the details are not done correctly, the path to citizenship can take far longer than it is reasonable. There is real concern about those details," he said.
___
Associated Press writers Julie Pace and Luis Alonso Lugo contributed to this report.
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Tuesday, January 29, 2013
Exclusive: Japan eased safety standards ahead of Boeing 787 rollout
TOKYO (Reuters) - Japan's government stepped in to give Boeing Co's now-grounded 787 Dreamliner and its made-in-Japan technology a boost in 2008 by easing safety regulations, fast-tracking the rollout of the groundbreaking jet for Japan's biggest airlines, according to records and participants in the process.
The concessions by an advisory panel to Japan's transport ministry reflected pressure from All Nippon Airways (ANA) and Japan Airlines (JAL) and a push to support Japanese firms that supply 35 percent of the 787 from the carbon-fiber in its wings to sophisticated electrical systems and batteries used to save fuel, people involved in the deliberations told Reuters.
"I believe the request for the changes came initially from the airlines. Ultimately, it was a discussion of measures to lower operating costs for the airlines," said Masatoshi Harigae, head of aviation at Japan's Aerospace Exploration Agency, one of the outside advisers who urged the eased regulatory standards.
There is no suggestion that easing regulatory standards contributed to the problems facing the Dreamliner, idled around the world after a string of malfunctions ranging from fuel leaks to battery meltdowns. There is also no evidence to suggest that continuing the mandate for more frequent manual inspections for new aircraft, including the Boeing 787, before 2008 would have helped catch signs of trouble earlier.
The looser regulations did not specifically address the risk of the Dreamliner's powerful batteries catching fire, the risk that safety investigators have zeroed in on in recent weeks.
But the steps taken by Japan's Civil Aviation Bureau in 2008 underscore how the deep commercial ties between Boeing and its Japanese suppliers and the backing of ANA and JAL helped build support for an easing of certification standards, based on a review of meeting records by the advisory panel released by the Ministry of Land, Infrastructure and Transport and comments from three of the seven experts who participated.
ANA and JAL declined to comment, deferring questions on regulatory standards to aviation officials and the ministry. Boeing in Tokyo said it couldn't immediately comment on the rule changes.
"We have not brought down our standards in comparison to other countries. This was a pragmatic revision," Tatsuyuki Shimazu, Chief Air Worthiness Engineer at the Civil Aviation Bureau, said.
ONGOING PROBE
Earlier this month, ANA was forced to make an emergency landing on a 787 domestic flight after a battery overheated and partially melted, triggering smoke alarms in the cockpit. The probe into that incident may take weeks or months as investigators still lack basic data to understand what went wrong, people involved have said.
In the meantime, the indefinite grounding of the Dreamliner has raised costs for both ANA and JAL and threatened to push back plans both carriers had for growth and new routes based on the new aircraft, analysts have said.
Boeing has yet to say whether it will compensate carriers for flight cancellations and higher operating costs. "We have been talking with our customers since (the 787 was grounded), but the details are confidential," said Rob Henderson, a Boeing spokesman in Tokyo.
After three meetings by a panel of industry and policy experts that concluded in March 2008, Japan's transport ministry said it would adopt 40 proposals to streamline regulations surrounding new aircraft. At the time, the ministry said the easier regulatory standards were designed in part to "quickly realize the benefits from the introduction of the 787."
ANA, the Dreamliner's biggest customer, and JAL committed to buy the first 787 in 2004, helping Boeing kick-start orders for the futuristic plane. Both subsequently increased their orders, with ANA planning to eventually fly 66 Dreamliners.
"At the time there was a lot of confidence in the aircraft. It was a discussion of measures to lower operating costs for the airlines," said Harigae.
Japan's government agencies often convene blue-ribbon panels of outside experts to review regulatory policy changes, as the transport ministry did for aircraft safety rules in 2007.
QUICKER TURNAROUNDS
Changes endorsed by the aviation group, including 40 revised safety guidelines, were presented as an effort to bring Japan into line with the framework of regulations in other markets, including the United States. At least five recommendations in the advisory report benefited the 787. Four mentioned support for the Dreamliner directly.
Three of the rule changes dealt with abbreviated testing and approval of pilots who had been cleared to fly the Boeing 777 and were preparing to switch to the 787. "It (787) is highly innovative and its safety is also advanced, but it's also very similar in design to the 777," said Kinya Fujiishi, an aviation journalist who sat on the panel. "This is why we thought it would be fine to revise the rule."
Another approved rule change exempted Boeing's new jet from the need for detailed inspections by ground crew after each landing that would have meant higher costs - and longer delays - for the airlines with each flight. Participants said the panel concluded such checks were not needed because of the Dreamliner's sophisticated on-board diagnostic system.
JAL said it still performs checks between 787 flights because it is still required to do so after international routes. ANA said it checks domestic 777 and 787 flights although rules no longer mandate them to perform these.
At the same time, the revised rules opened up potentially lucrative trans-Pacific destinations to ANA and JAL with the Dreamliner sooner than previous standards would have allowed. Changes shortened the time needed to win approval - known as Extended-range Twin-engine Operational Performance Standards (ETOPS) - to fly two-engined jets on routes distant from emergency airfields.
But production and design snags meant ANA, even so, had to wait until 2011 for its first Dreamliner.
DEEP TIES
In 2009, a bilateral agreement between Japan and the United States provided further support for the Dreamliner to enter service in Asia. That pact allowed aviation officials in Tokyo to certify the airworthiness of the U.S.-built jets based on testing mostly approved by the Federal Aviation Authority (FAA).
In 2007, the FAA cleared Boeing's use of a potentially flammable battery in the Dreamliner because Boeing's design was expected to contain any potential fire and divert smoke and fumes away from the passenger cabin.
Japan's support for the Dreamliner reflects how closely integrated the nation's aerospace industry has become in Boeing's supply chain, experts say. "If the 787 prevails all over the world it's good for Japanese industry, so the government wants to support it," said Hajime Tozaki, an aviation policy specialist and professor at Tokyo's Waseda University, who was not part of the 2008 review.
Japanese companies led by Mitsubishi Heavy Industries Ltd maker of the wartime Zero fighter, build a third of the Dreamliner including its wings. With each succeeding Boeing model, Japanese suppliers have deepened their involvement from supplying parts for the 747 jumbo jet to becoming full-fledged, risk-sharing partners with the U.S. aircraft builder.
The stake of Japanese suppliers rose from less than a fifth for the 767 to a quarter for the 777 and 35 percent for the 787. As many as 22,000 aerospace jobs at 65 firms in Japan are pegged to Boeing's fortunes, Boeing estimates.
After years of trying, Europe's Airbus has failed to drive a wedge into Japan's ties to Boeing, which in the past decade has won more than 80 percent of Japan's aircraft orders.
POTENTIAL DAMAGE
For now, Japan is sticking by Boeing with some even calling for a more conspicuous government support for the 787.
"I didn't feel there was enough (government) effort to promote the 787," said Hiroyasu Hagio, a former JAL pilot who represented flight crews in the 2008 review as head of the Japan Aircraft Pilot Association. He added: "In other countries it's normal for countries to aggressively get involved in sales."
The two big Japanese carriers remain committed to putting the 787 at the core of their fleet planning and say there has been no change to their order plans.
But there are signs the Dreamliner's problems have strained ties between Japan and Boeing. Last week, U.S. diplomats met Japanese officials in Tokyo to discuss the political and economic fallout from the Dreamliner's grounding.
"If Boeing intentionally and politically puts the losses on to Japanese companies, the damage for Japan will be huge," said Isao Iijima, a political adviser to Prime Minister Shinzo Abe.
(Additional reporting by Maki Shiraki, James Topham, Antoni Slodkowski and Yumi Muranaka; Editing by Kevin Krolicki and Ian Geoghegan)
Source: http://news.yahoo.com/exclusive-japan-eased-safety-standards-ahead-boeing-787-060057246--sector.html
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Zynga's shares rise 14 percent ahead of earnings report next week
SAN FRANCISCO (Reuters) - Zynga Inc's stock rose 14 percent on Monday as investors grew more confident that the social games developer behind "FarmVille" and "Mafia Wars" will deliver a solid set of quarterly results next week.
Its shares ended trading at $2.84, up 35 cents
Zynga reports quarterly results next Monday. In October, it raised the lower end of its 2012 earnings forecast and also announced a $200 million share buyback plan and a new partnership with British company bwin.party to offer online real-money gambling.
Last month, it put in a preliminary application to run real-money gambling games in Nevada.
Analysts said there was no news that caused the spike
Arvind Bhatia, an analyst at Sterne Agee, said, "Outside of Apple, it feels a little bit like we're in a little bit of bull market in tech. A lot tech memes are up even without any news. This one was perhaps underowned and maybe that's why people are saying in 2013 that's one they want to own.
"Volume is three times the normal volume and stock is up 13 percent and that's clearly telling you somebody's buying."
"They scheduled an earnings call for next Tuesday and haven't preannounced, so perhaps investors are feeling good about the quarter," said Wedbush Securities analyst Michael Pachter.
The "FarmVille" creator has struggled to hold on to users for once-popular titles it publishes on Facebook, and is shifting focus to capture growth in mobile games.
Zynga is hoping that a lucrative real-money market could make up for declining revenue from games like "FarmVille" and other fading titles that still generate the bulk of its sales.
Last year, the games publisher carried out 11 of the planned shutdowns of 13 underperforming game titles, including simulation games like "Petville" and "FishVille."
As part of an on-going cost-cutting plan, Zynga laid off 5 percent of its full-time workforce and shut its Boston office last year and said it might consider closing its Japanese and British game studios.
"A lot of it is going to depend on Zynga's cost-cutting and there's are still a lot of issues as they don't have the advantages from their previous relationship with Facebook," said Sterne Agee analyst Bhatia.
(Reporting By Malathi Nayak; Editing by Steve Orlofsky)
Source: http://news.yahoo.com/zyngas-shares-rise-14-percent-ahead-earnings-report-211344203--finance.html
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Monday, January 28, 2013
BaFin probes lenders Deutsche Bank over Euribor: paper
FRANKFURT (Reuters) - German regulator BaFin has launched a special probe against four lenders including Deutsche Bank
A special probe is the most severe kind of investigation the regulator can launch against a bank.
The German regulator is also investigating Portigon AG
Officials at Deutsche Bank and BaFin were not available for comment. Portigon officials were also not available for comment.
The special probes were launched after BaFin had asked for information from all German banks involved in setting Euribor rates, Sueddeutsche said.
Euribor and its larger counterpart, Libor, or the London Interbank Offered Rate, are Europe's key gauges of how much banks pay to borrow from their peers and are used to set the prices of swathes of financial products, from Spanish home mortgages to more complex derivatives.
Deutsche Bank is already being subjected to a BaFin special probe in connection with Libor.
Deutsche Bank has said it is cooperating with investigations in the United States and Europe in connection with setting rates between 2005 and 2011.
In July, Reuters reported that several banks under investigation for suspected rigging of Euribor intensified cooperation with EU antitrust regulators in the hope of lower fines.
Earlier this month German bank BayernLB
More than 40 banks still contribute to the Euribor inter-bank lending rate, but the Euribor-EBF group running it warned recently that more could leave following recent bad publicity.
The daily Libor poll asks banks at what rate they think they will be able to borrow money from each other in 10 major currencies and for 15 borrowing periods ranging from overnight loans to 12 months.
As the credit crisis intensified between 2006 and 2008, allegations started mounting that Libor no longer reflected the real cost banks were paying for funds. Authorities have been examining whether traders tried to influence the rate to profit on bets on the direction it would go.
(Reporting By Edward Taylor; Editing by Matt Driskill)
Source: http://news.yahoo.com/bafin-probes-deutsche-bank-over-euribor-well-libor-053007232--sector.html
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Quotes from the Screen Actors Guild Awards
LOS ANGELES (AP) ? Quotes from the 19th annual Screen Actors Guild Awards.
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"I'm just so thrilled I have dental." ? Best supporting actress winner Anne Hathaway after accepting her Screen Actors Guild award for her role in "Les Miserables."
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"Just tape the 'Big Bang Theory' for once, for crying out loud." ? Best supporting comedy actress winner Tina Fey, whose show "30 Rock" is ending its run this week and is going up against a show more popular in the ratings.
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"Oh my God. It's ridiculous." ? Alec Baldwin on his seventh consecutive Screen Actors Guild win for best male actor in a comedy series for "30 Rock."
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"Aren't we lucky that we found a line of work that doesn't require growing up?" ? Screen Actors Guild Lifetime Achievement award recipient Dick Van Dyke, who received a lengthy standing ovation from his fellow actors.
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Sunday, January 27, 2013
Feb. PSN ? Solirea Fitness & Self Defense Workout! | q-wave.org
January 28, 2013
Hello Q-Wavers!Professionals Social Network (PSN) is happy to announce that we are invited to a Fitness + Self-Defense Workshop by?Solirea?to teach us?Q-Wavers simple and practical tricks that can be used to defend ourselves.
About Solirea:
After having been aware of physical, emotional, and sexual violence towards women, especially ones from the LGBTQ community, Vita Ng was inspired to create a Fitness + Self-Defense program called Solirea. Named after three women under whom Vita trained in women?s self defense (Sokha,?Lindai, and Aurea), Solirea is a program that encourages women to be more self-confident and empowered. Of all things, Solirea?s mission is to encourage Q-Wavers to be confident & comfortable with who they are and not be afraid to stand up for themselves and knowing when to say, ?No!?
Sokha and Lindai are certified in Wing Tsun martial arts. Aurea is certified in women?s self defense. They will be helping Vita create the Solirea workout program.
When:?Saturday, February 9th, 2013 from 11am ? 1pm
Where:?Project Reach, 39 Eldridge Street, 4th floor, New York 10002
Instructors:?Sokha, Lindai, and Sije Nicole
Facebook RSVP:?https://www.facebook.com/event
Notes:
ALL Q-Wavers (including Trans) are welcomed to this event.
Event Schedule:
10:00am ? 10:30pm Event set up (volunteers needed)
10:30pm ? 11:00pm Networking, enjoy light refreshments
11:00am ? 1:00pm ? Fitness + Self-Defense class begins
Cheers!
PSN?team
==============================
The main concept of Professionals Social Network (PSN) is to provide a monthly social networking event on Fridays for Qwave professionals. We want to make our social meetup as welcoming as possible. We would like to invite all Qwavers to stay connected. While making new friends and having fun, we also try to help job seekers or give advice for recent graduates if there is any. We share our coming out experience in the work force if there is any.
Currently, we have met people from different lines of work including design (apparel/graphic/interior/web)
Does it sound interesting to you? Let?s meetup this Friday!
Posted by Q-Wave | Filed Under Events?
Comments
Source: http://www.q-wave.org/2013/01/feb-psn-solirea-fitness-self-defense-workout/
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Saturday, January 26, 2013
ishrat.sharma: home happy home: A peek inside my scrapbooks ...
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S&P closes above 1,500 for 1st time since 2007
Trader Peter Tuchman, center, works on the floor of the New York Stock Exchange, Friday, Jan. 25, 2013. Stocks are opening higher on Wall Street ahead of what is expected to be more upbeat data on housing from the government. (AP Photo/Richard Drew)
Trader Peter Tuchman, center, works on the floor of the New York Stock Exchange, Friday, Jan. 25, 2013. Stocks are opening higher on Wall Street ahead of what is expected to be more upbeat data on housing from the government. (AP Photo/Richard Drew)
Trader Michael Zicchinolfi, center, works on the floor of the New York Stock Exchange, Friday, Jan. 25, 2013. Stocks are opening higher on Wall Street ahead of what is expected to be more upbeat data on housing from the government. (AP Photo/Richard Drew)
Traders work on the floor of the New York Stock Exchange, Friday, Jan. 25, 2013. Stocks are opening higher on Wall Street ahead of what is expected to be more upbeat data on housing from the government. (AP Photo/Richard Drew)
NEW YORK (AP) ? Passing another milestone on the nation's long journey back from the Great Recession, the Standard and Poor's 500 index closed above 1,500 for the first time in more than five years Friday after a wave of good earnings reports.
It took scores of incremental gains, several stalled rallies and a few sickening falls, but the widely watched S&P, one of the broadest measures of the American stock market, finished at 1,502.96, up 8.14 points. The index had not closed above 1,500 since December 2007, the start of the worst economic downturn since the 1930s.
The news came on top of other hopeful signs that the economy is slowly recovering. Housing is rebounding. Companies are hiring again, albeit slowly, and their earnings, a big driver of stock prices, are at record levels.
"The bottom line is that corporate America is doing exceptionally well," said Joe Tanious, a global market strategist at JPMorgan.
The breakthrough happened on an eighth straight daily gain for stocks, itself a remarkable performance. That is the longest winning streak since November 2004.
Stocks have surged this month, with the S&P advancing 5.4 percent. It jumped at the start of the year when lawmakers reached a last-minute deal to avoid the "fiscal cliff." Signs that Europe has avoided financial collapse also helped.
Stocks fell sharply during the Great Recession. By March 2009, the S&P was 57 percent below its October 2007 peak, a harrowing plunge that scarred a generation of small investors and, some Wall Street experts believe, will keep them away from stocks for years to come.
Since that fall, the market has climbed sharply, though it has endured several big declines. In May 2010, a trading glitch set off a so-called flash crash that sent stocks plummeting. And in August 2011, stocks gyrated like a roller coaster for several days as fears mounted that the U.S. would default on its debts.
On Friday, stocks were helped by earnings from two big companies. Procter & Gamble, the world's largest consumer products maker, rose $2.83 to $73.25 after reporting that its quarterly income more than doubled. P&G also raised its profit forecast for its full fiscal year. Starbucks climbed $2.24 to $56.81 after reporting a 13 percent increase in profits.
The Dow Jones industrial average closed at 13,895.98, up 70.65 points. The Dow is up 6 percent on the year.
The Nasdaq composite gained 19.33 points to 3,149.71.
The Dow is now just 268 points below its record high of 14,165, reached on Oct. 9, 2007, two month before the recession began. The Dow has more than doubled since its recession low of 6,547 on March 9, 2009.
The S&P 500 is 62 points shy of its record of 1,565, reached on the same day the Dow hit its peak. The S&P has also more than doubled from its low of 676, which happened on the same day the Dow bottomed out in 2009.
JPMorgan's Tanious expects stocks to go even higher. He says corporate earnings should grow at about 5 percent over the next year or two, and stock valuations will rise. Currently, the S&P 500 is trading at an average price-to-earnings ratio of 14, below an average of 15.1 for the last decade, according to FactSet data.
On Friday, Apple continued to decline, allowing Exxon Mobil to once again surpass the electronics giant as the world's most valuable publicly traded company. Apple fell 2.4 percent to $439.88, following a 12 percent drop on Thursday, the biggest one-day percentage decline for the company since 2008, after Apple forecast slower sales. The stock is now 37 percent below the record high of $702.10 it reached Sept. 19.
Apple first surpassed Exxon in market value in the summer of 2011, grabbing a title Exxon had held since 2005. The two traded places through that fall, until Apple surpassed Exxon in early 2012.
Not everyone on Wall Street thought the S&P milestone was worth celebrating. Some noted the stock market is more a reflection of how traders feel than a reflection of underlying fundamentals.
"It's not a landmark that we really follow or that we really care about," said Derrick Irwin, portfolio manager for Wells Fargo Advantage Funds. "Focusing on the benchmarks can end up shooting you in the foot, as we've seen."
Some of the rise may also be due to investing stock market momentum. A rule of thumb is that when a stock price or an overall index gets tantalizingly close to a milestone, as the S&P has been for days now, it's almost certain to cross that milestone, at least temporarily.
"Sure, it's a good thing," said Christian Bertelsen, chief investment officer of Global Financial Private Capital in Sarasota, Fla. "But I wouldn't read too much into it."
Still, Deutsche Bank analysts raised their year-end target for the index to 1,600 from 1,575.
Companies will be able to maintain their earnings even if lawmakers in Washington decide to implement wide-ranging spending cuts to narrow the budget deficit, the analysts said in a note sent to clients late Thursday.
The yield on the 10-year Treasury note, which moves inversely to its price, climbed 11 basis points to 1.95 percent.
Among other stocks making big moves.
? Halliburton gained $1.91 to $39.72 after posting a loss that was smaller than analysts had expected. The oilfield-services company said fourth-quarter profits declined 26 percent to $669 million on increasing pricing pressure in the North American market and one-time charges from the Deepwater Horizon disaster. Wall Street had expected worse.
? Hasbro fell $1.14 to $37.31 after the toy maker said its fourth-quarter revenue failed to meet expectations because of poor demand over the holidays. The company plans to cut about 10 percent of its workforce and consolidate facilities to cut expenses.
? Green Mountain Coffee Roasters rose $2.53 to $46.31 after an analyst noted that sales of a competing coffee brewer introduced by Starbucks were getting off to a weak start.
__
AP Business Writer Christina Rexrode contributed to this report.
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Syrian troops fight rebels in Damascus suburb
BEIRUT (AP) ? Syrian troops raided an opposition stronghold near the capital on Saturday, killing rebels and uncovering tunnels they used to move around and smuggle weapons, the state-run news agency said.
SANA said three tunnels were discovered after clashes in Daraya, just south of the capital, Damascus. Syrian troops have been trying to capture Daraya for weeks, but have faced strong resistance from hundreds of rebels trying to overthrow President Bashar Assad.
The rebels have used Damascus suburbs to stage attacks on nearby government facilities.
The conflict in Syria began nearly two years ago after a peaceful uprising against Assad turned violent. The unrest was inspired by the Arab Spring wave of revolutions that toppled leaders in Tunisia, Egypt, Libya and Yemen.
More than 60,000 have been killed since the fighting began in March 2011, according to the U.N. Since then, the Syrian opposition has taken control of wide swathes of territory, mostly in the north near Syria's border with Turkey.
The Britain-based Syrian Observatory for Human Rights reported an air raid Saturday on the northern town of Al-Bab, which killed at least four people and wounded others.
Amateur video posted online showed about a dozen wounded men and women and at least two boys and a girl being treated at a hospital. "Oh God help us. They are children," a man could be heard saying as a doctor cut the clothes of a boy to expose his wound.
The Observatory and another activist group, the Local Coordination Committees, also reported shelling and air raids in other Damascus suburbs, including Shebaa and Aqraba near the international airport. The LCC also said rebels fired several rockets from Daraya toward Assad's People's Palace on Qasioun Mountain, overlooking the capital.
It released a video showing a masked man firing at least one small rocket from the roof of a building near the palace. Syrian officials have previously denied claims by rebels that rockets have targeted the palace ? one of three mansions Assad uses in the capital.
The videos appeared genuine and correspond to reporting done by The Associated Press.
Daraya is flanked by districts that are home to a military air base, the government headquarters, the intelligence agency's head office and the Interior Ministry.
The Observatory said troops bombarded southern neighborhoods of the capital and have witnessed anti-government activities for months. It said a rebel was killed in Damascus during clashes with pro-regime gunmen in the neighborhood of Tishrin.
The activist groups also reported heavy clashes in the central city of Homs and the nearby town of Qusair, which is close to the border with Lebanon, and near a prison in the northwestern city of Idlib.
Source: http://news.yahoo.com/syrian-troops-fight-rebels-damascus-suburb-123433258.html
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Who Are the People that Get Acne
The most widespread of skin conditions is acne and affects people of all races. It is estimated that up to 80 percent of all people will get some degree of acne. Acne is mostly found in teens after puberty starts but it can become a problem with some adults also. Its caused by the increase of oils that are trapped in the oil ducts and it becomes irritated.
Approximately 20 percent of those that get acne will have it bad enough to require medical treatment. This severe skin disease can and will cause scaring of the skin if left untreated. There are numerousover the counter products to be had that can help treat the more common pimples but prescription medication may be needed to treat difficult acne.
Acne is a common skin disease for North American whites. Those of Spanish heritage seem to get more cystic acne. African Americans can get what?s referred to as pomade acne presumably from hair products. Others that are also prone to cystic acne are the countries of the Mediterranean area.
Acne can cause emotional grief despite of how bad it is. It causes embarrassment and lack of self esteem. Before anybody reaches puberty they should start taking care of their skin so they might get a head start and prevent acne from getting out of control. Some people will never get acne and others will only get a mild case. Some will get acne because its also hereditary but not every person in the family will get it and it may skip a generation.
Source: http://acne-treatment-guru.com/2013/01/25/who-are-the-people-that-get-acne/
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Timothy B. Schmit Beats Cancer, Earns Clean Bill of Health
Not that there?s ever really been a bad time to be a member of the Eagles, all things considered, but this is shaping up to be a pretty good month for the guys in the band ? especially bassist Timothy B. Schmit, who recently shared the news that his battle with cancer appears to be over.
We learned of Schmit?s cancer diagnosis last month, when his assistant told a fan site that he?d undergone surgery for throat and neck cancer following the band?s show on Nov. 12, 2012. Fortunately, that seemed to take care of the problem ? as his assistant put it, ?He does not need to have chemo or radiation. Now he just has to keep an eye on things every month for about a year to be sure it stays away, and then not so often.?
Last week, Schmit followed up with an update of his own at his official website, calling himself ?way past due in expressing my sincere gratitude for the outpouring of get well wishes I?ve received.?
Of course, he?s been a little distracted with what he called his ?disheartening? health problems; fortunately, after a three-night hospital stay, he was back on his feet and on the mend. ?My voice is coming along nicely, and as many of you know, I was able to perform with the Eagles just before the new year,? Schmit pointed out. ?So ? All is good. The brief synopsis is: I discovered a problem and took care of it; simple as that.?
In fact, he?s already looking toward the future. ?I love my work, and plan on doing it for as long as possible,? Schmit assured fans. ?I?m chipping away at a new solo album, and I wouldn?t be surprised if you hear of more Eagles action in the near future.?
Next: Top Eagles Songs
Source: http://ultimateclassicrock.com/timothy-b-schmit-beats-cancer/
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Friday, January 25, 2013
How to Install Surface Source Floating Vinyl Plank Flooring | Home ...
24Jan
A Surface Source Floating Floor may be the easier floor one will ever install in their lives. There?s no messy adhesive, no confusing tools, just a few simple ones and the plank sizes make for easy installation. Floating plank can be installed over subfloors like plywood, particle board, OSB, light weight concrete and resistant resilient floors. To begin installation, remove all mouldings, undercut door casings and sweep the floor clean. Next, choose the direction of the planks. Usually flooring will run parallel to the longest wall in the room. You also want plank widths to be balanced throughout the room so there isn?t a narrow plank against the final wall. Learn how to calculate the starting plank?s width in only a few easy steps. Once you have calculated the starting widths, you can trim the planks to the desired dimension. As you begin to lay the planks, peel back the edge of the adhesive so you can connect the next plank. Repeat this process until the first row is laid. As you lay the next rows, tear off the release paper so that each plank can connect to the adhesive. Remember this is a floating floor, so it is easy to take care of. When finished, attach the footing to the moulding, not the flooring. Removing a misplaced plank is easy. Start by cutting the corner of the damaged plank. Using a heat gun, work your way around the plank and lift using a putty knife. Once the plank is removed, simply add a new one and secure in place with a roller. Simple, fast and ?
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Source: http://www.cohocton.org/756-how-to-install-surface-source-floating-vinyl-plank-flooring
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Thursday, January 24, 2013
Adele to perform Bond theme song "Skyfall" live at Oscars
LONDON (Reuters) - British singer Adele will return to the stage next month after a year absence to perform her Oscar-nominated song "Skyfall" at the 85th Academy Awards, the show's producers said on Wednesday.
The theme tune to the latest James Bond movie was written by Adele and Paul Epworth. It is the first Bond theme to be nominated for the original song award at the Oscars since "For Your Eyes Only" in 1981.
The February 24 show will be Adele's first live performance since the Grammy Awards last April and the first time she will perform "Skyfall" live, as she has kept a low profile since giving birth to a son last October.
"It's an honor to be nominated and terrifyingly wonderful to be singing in front of people who have captured my imagination over and over again," Adele, 24, said in a statement.
"It's something I've never experienced and probably only ever will once!"
She was in Hollywood last month to pick up the Golden Globe for the best original song prize for "Skyfall".
Adele's album "21" scored the rare feat in December of topping all U.S. album sales for the second straight year. She records on the indie record label XL.
(Reporting by Belinda Goldsmith; editing by Patricia Reaney)
Source: http://news.yahoo.com/adele-perform-bond-theme-song-skyfall-live-oscars-181738601.html
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Apple applies for shoe-life sensor patent, puts it in hypothetical brogues
Nike's running sensor, a detachable piece of tech that connected to a companion iOS app, is the closest that Apple's associated itself to foot metrics so far, but folded inside the company's patent applications for today is this left-field addition, a shoe wear-out sensor. We assume the idea is geared towards runners -- presumably these brogue outlines we're looking at above are just red herrings.
The application draws together two possible outcomes: one with an thin sensor layer built your footwear of choice and another which keeps the sensor in the heel. A "unitless activity number" is also mentioned, where the device (which could include accelerometers, flexibility sensors and more) could craft an "activity value" based on your movement -- this would then also be used to gauge the shelf-life of your current footwear. When this pre-specified threshold is exceeded, it would then sound the alarm. According to one diagram, the process could connect with an external display, likely broadcasting its concern to your nearby iOS device. But if your running needs demand a sensor to tell you when your sneakers are cooked, there might be other things worth tracking.
Source: USPTO
Source: http://www.engadget.com/2013/01/24/apple-applies-for-shoe-life-sensor-patent/
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Peugeot promises fuel-saving Hybrid Air system in cars by 2016
It's far from the first automaker to attempt a car that runs on compressed air, but Peugeot Citroen is now touting a new system that it says could be available in at least some of its small cars by 2016. As suggested by the "Hybrid Air" moniker, this system doesn't run solely on air -- it also incorporates a traditional gasoline engine that Peugeot promises will combine for a 90 percent increase in vehicle range in urban driving, or offer up to 50 minutes of driving without using any gas. The gas engine would kick in more often during highway driving, putting the overall fuel savings at around 35 percent. As Peugeot notes, this system is just one step towards its goal of a car that gets 2L/100KM (or 117 miles per gallon), which it hopes to achieve by 2020. You can get a quick overview of the Hybrid Air system in the video after the break.
Filed under: Transportation
Via: The Huffington Post
Source: Peugeot Citroen
Source: http://feeds.engadget.com/~r/weblogsinc/engadget/~3/_pJiCLpyGGo/
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Thursday, January 17, 2013
French strikes hit key Mali town held by Islamists
BAMAKO, Mali (AP) ? Fighting erupted between Islamists and Malian soldiers in the city whose capture by militants first prompted French military intervention, while French forces kept up their bombardments of another key town, fleeing residents said Thursday.
Mali soldiers claimed to have recaptured the central town of Konna, although this could not be confirmed, while the French continued airstrikes on the Islamist-held town of Diabaly, at least 200 kilometers (125 miles) away.
Residents who escaped Diabaly said French bombs continued to hit Islamist positions there overnight but they said the town remained under the control of the radical Islamists who have advanced south after controlling northern Mali for nearly a year.
"There were bombardments last night in Diabaly and civilians have continued to come here to Niono, said Oumar Coulibaly, a resident of Niono. "This morning I saw people who came from Diabaly and the Islamists still occupy the city."
Diabaly, a town of some 35,000 people, is just 250 miles (400 kilometers) northeast of the capital of Bamako.
Meanwhile, France has increased its troops strength in Mali to 1,400, said French Defense Minister Jean-Yves Le Drian.
"The actions of French forces, be it air forces or ground forces, are ongoing," said Le Drian in Paris Thursday. "They took place yesterday, they took place last night, they took place today, they will take place tomorrow."
Fleeing residents have said that Islamist extremists have taken over their homes in Diabaly and were preventing other people from leaving. They said the militants were melting into the population and moving only in small groups on streets in the mud-walled neighborhoods to avoid being targeted by the French.
"They stationed themselves outside my house with a heavy weapon, I don't know what sort it was. After that came the bombing, which went on from 7:30 a.m. to 2 p.m., and after that, one of them (rebels) jumped over my garden wall to grab the keys to my car," said Thiemogo Coulibaly.
In apparent retaliation for the French offensive, the same group controlling northern Mali seized a natural gas complex in neighboring Algeria, taking dozens of people hostage, including Americans. Two foreigners were killed.
In the narrow waist of central Mali, fighting reignited in the town of Konna, which the Islamists attacked last week and seized a day before French launched its military offensive.
A Malian military official, who insisted on anonymity because he was not authorized to speak to journalists, said the fighting began Wednesday between Malian soldiers and Islamists from the group Ansar Dine.
The official claimed that Malian forces had forced the Islamists out of Konna, a claim that could not be immediately corroborated.
Abdrahmane Guirou, a nurse, said four wounded soldiers had been brought to the local hospital.
The first troops from Mali's neighbors are expected Thursday, nearly a week after French forces launched their military operation to dislodge al-Qaida-linked militants from a harsh desert region the same size as France.
Aboudou Toure Cheaka, special representative for the president of the Economic Community of West African States commission, said the troops from Nigeria would be arriving sometime Thursday and forces from Niger are to be deployed soon along the Niger-Mali border.
France expects to ramp up to a total of 2,500 soldiers that will include French Foreign Legionnaires. It has committed helicopter gunships, fighter jets, surveillance planes and refueling tankers in the fight against the Islamists who seized control of northern Mali last year.
A former French colony, Mali once enjoyed a reputation as one of West Africa's most stable democracies with the majority of its 15 million people practicing a moderate form of Islam. That changed in April 2012, when Islamist extremists took over the main cities in the country's north amid disarray following a military coup, and began enforcing their version of strict Shariah law.
Security experts warn that the extremists are carving out their own territory in northern Mali from where they can plot terror attacks in Africa and Europe. Estimates of how many fighters the Islamists have range from less than 1,000 to several thousand. The militants are well-armed and funded and include recruits from other countries.
Despite training from U.S. and other Western trainers, the Mali army has been ineffective in fighting the militants.
Last December, the U.N. Security Council passed a cautious resolution, outlining steps that needed to be taken before an international military intervention, one which diplomats said would not occur before at least September.
But in a surprise move last week, French President Francois Hollande authorized airstrikes in Mali to stop a sudden southward push by three Islamist rebel groups. The Islamists warned that France had "opened the doors of hell" and that all French nationals would pay, as would any country that helped the military intervention.
France's allies have offered vocal support for the country's military operation in Mali, but when it comes to sending troops or weapons, they are agreeing to the bare minimum: a transport plane here and there, a handful of support staff and a lot of promises to think about it.
American officials say they are providing intelligence to its European ally and are considering deploying American aircraft to land in Mali for airlift or logistical support. The U.S. is offering possible surveillance drones, too, but won't entertain notions of sending American troops to keep terrorists from carving out a safe haven like they did in Afghanistan before the Sept. 11, 2001, attacks.
"We share the same goals as the French and of the states in the region. We support what the French are attempting to do," said Johnnie Carson, the top U.S. diplomat for Africa, speaking Wednesday at the Wilson Center in Washington.
___
Associated Press writer Bradley Klapper in Washington contributed to this report.
Source: http://news.yahoo.com/french-strikes-hit-key-mali-town-held-islamists-123454599.html
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Wednesday, January 16, 2013
Sterne Agee: Here's The Real Reason Apple Cut ... - Business Insider
The Wall Street Journal sent shockwaves through the Apple world when it said Apple cut its order of iPhone screens in half because of weak demand.
Shaw Wu at Sterne Agee says weak demand is not a problem for Apple. In a new note he says, "As far as we can tell, iPhone 5 demand remains robust."
He explains the cuts in orders as such: "(1) much improved yields meaning lower component builds and (2) supplier shifts."
So it sounds like Apple put in a gigantic order for iPhone screens assuming they would be hard to make. When they weren't that hard to make, Apple cut back on the order. It also may be shifting its suppliers and thus one supplier may be getting cut and blabbing to the press.
In just over a week we hear from Apple during its earnings call. We'll get some answers then.
Source: http://www.businessinsider.com/sterne-agee-heres-the-real-reason-apple-cut-its-supply-orders-2013-1
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France girds for new threats after Mali operation
PARIS (AP) ? Armed soldiers are on guard in Paris' subways, train stations and some of the world's most recognizable monuments to head off terror attacks after France's military launched an operation to push back al-Qaida-linked insurgents in Mali.
Since the operation in Mali began on Friday, the soldiers have reinforced already tight security with a far more visible presence, patrolling in small groups at malls, beneath the Eiffel Tower and outside the Louvre. Security forces stand in twos and threes on subway platforms, patrolling through the pedestrian tunnels and airports in black or camouflage, as part of the national "Vigipirate" program.
Interior Minister Manuel Valls said France is well aware of the dangers of attacks from terrorists angry over the intervention. But he said he believed the long-term threat posed by the advance of militant Islamist fighters in Mali was far greater, because the country could become a potential training ground for terrorists.
Declaring France had "opened the gates of hell" with its assault, the rebels from the Sahel desert region that includes Mali threatened retribution on Monday.
"France is watching individuals who want to go to Afghanistan, Syria and the Sahel. We're watching those who could return here," Valls told the French television network BFM. "We're facing an exterior enemy and an interior enemy."
He said France had already fallen victim to attacks in recent months, referring to a French-born radical Islamist Mohammad Merah who targeted French soldiers and a Jewish school in the south, and a group of men accused of firebombing a kosher grocer in September.
The French government late last year passed a law barring citizens from training for terrorism abroad in response to the deadly attacks in the south by Merah, who received paramilitary training in Pakistan.
Marc Trevidic, a French judge who has investigated terrorism cases, said he was not worried about the threat of attacks in the short term.
"The Malian Islamists currently have other priorities than carrying out a terrorist attack in France," he told Le Parisien newspaper. But long term, he said, the threat is very real, especially given how easy it is to travel between France and Mali. "With this military intervention, we're on the front lines. Suddenly, France is a priority target."
Some 100,000 Malians are residents of France, and there are regular direct flights between Mali's capital, Bamako, and Paris.
Source: http://news.yahoo.com/france-girds-threats-mali-operation-090541984.html
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New Facebook Advertising Webinar For Beginners With Author and 'Un-Guru' Jon Rognerud
WEBWIRE ? Tuesday, January 15, 2013
Learning to advertise on Facebook can be a serious risk and challenge to beginners. There is a lot of hype on the Internet, and it?s difficult to get the right information.
"We find that most new advertisers don?t know what they are doing,? says author and CEO Jon Rognerud of JonRognerud.com, the online marketing research and training blog for small business.
"The basic principles of marketing apply, but because of "shiny-object syndrome" and powerful tools that are not fully understood or utilized, most will fail,? he continues.
Via a free webinar - Facebook Advertising Secrets for Beginners?- Saturday 19th of January at 10am PST, Facebook advertising beginners will have a chance to get the basics handled and so they can see and get success quickly.
And, you?ll learn things like:
Why Facebook ad strategies fail, because of a key missing ingredient.
How to get big traffic for $0.20c a click and with a 2-5% Click-through Rate
How to get real fans, not just ?likes??
How one single piece of content can skyrocket your fanbase
Step-by-step plan to setup and run your first campaign
Attendees will also get a special ebook bonus to learn how to engage in important social networks like Twitter, LinkedIn and Google+.
About Jon Rognerud
After leaving Yahoo in late 2004, Jon began a search marketing firm in 2005.?Jon is the author of the book, ?The Ultimate Guide to Search Engine Optimization? (Entrepreneur/Mcgraw-Hill). He writes about search engine marketing, social media marketing, facebook, online business strategies and entrepreneurial mindset insights. He speaks, trains and coaches organizations in the US and abroad on how to build and run their Internet Marketing Strategies for increased profits ? using SEO, Social Media, Pay Per Click and integration marketing
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Source: http://www.webwire.com/ViewPressRel.asp?aId=168912
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AP source: Armstrong tells Oprah Winfrey he doped
FILE - In this Feb. 15, 2011 file photo, Lance Armstrong pauses during an interview in Austin, Texas. Local and international news crews are staking out positions in front of Armstrong's lush, Spanish-style villa ahead of the cyclist's interview with Oprah Winfrey later Monday, Jan. 14, 2013. (AP Photo/Thao Nguyen, File)
FILE - In this Feb. 15, 2011 file photo, Lance Armstrong pauses during an interview in Austin, Texas. Local and international news crews are staking out positions in front of Armstrong's lush, Spanish-style villa ahead of the cyclist's interview with Oprah Winfrey later Monday, Jan. 14, 2013. (AP Photo/Thao Nguyen, File)
FILE - In this Aug. 24, 2009 file photo, Lance Armstrong speaks during the opening session of the Livestrong Global Cancer Summit in Dublin, Ireland. Local and international news crews are staking out positions in front of Armstrong's lush, Spanish-style villa ahead of the cyclist's interview with Oprah Winfrey later Monday, Jan. 14, 2013. (AP Photo/Peter Morrison, File)
FILE - In this July 24, 2005 file photo showing overall leader Lance Armstrong, of Austin, Texas, surrounded by press photographers, signaling seven, for his seventh straight win in the Tour de France cycling race, prior to the start of the 21st and final stage of the race, between Corbeil-Essonnes, south of Paris, and the French capital. After more than a decade of denying that he doped to win the Tour de France seven times, Armstrong was set to sit down Monday, Jan. 14, 2013, in Austin, Texas, for what has been trumpeted as a "no-holds barred," 90-minute, question-and-answer session with Oprah Winfrey. (AP Photo/Peter Dejong, File)
An unidentified man enters a gate at the home of cyclist Lance Armstrong, Monday, Jan. 14, 2013, in Austin, Texas. After more than a decade of denying that he doped to win the Tour de France seven times, Armstrong was set to sit down Monday for what has been trumpeted as a "no-holds barred," 90-minute, question-and-answer session with Oprah Winfrey. (AP Photo/Eric Gay)
A delivery man waves to media after dropping a package at the home of cyclist Lance Armstrong, Monday, Jan. 14, 2013, in Austin, Texas. Armstrong is scheduled to give a "no-holds barred" interview to Oprah Winfrey. (AP Photo/Eric Gay)
AUSTIN, Texas (AP) ? After a decade of denial, Lance Armstrong has finally come clean: He used performance-enhancing drugs to win the Tour de France.
The disgraced cyclist made the confession to Oprah Winfrey during an interview taped Monday, a person familiar with the situation told The Associated Press. The person spoke on condition of anonymity because the interview is to be broadcast Thursday on Winfrey's network.
The admission Monday came hours after an emotional apology by Armstrong to the Livestrong charity that he founded and took global on the strength of his celebrity as a cancer survivor who came back to win one of sport's most grueling events.
The confession was a stunning reversal, after years of public statements, interviews and court battles in which he denied doping and zealously protected his reputation.
Winfrey tweeted afterward, "Just wrapped with (at)lancearmstrong More than 2 1/2 hours. He came READY!" She was scheduled to appear on "CBS This Morning" on Tuesday to discuss the interview.
Even before the taping session with Winfrey began around 2 p.m., EST, Armstrong's apology suggested he would carry through on promises over the weekend to answer her questions "directly, honestly and candidly."
The cyclist was stripped of his Tour de France titles, lost most of his endorsements and was forced to leave the foundation 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.
About 100 staff members of the charity Armstrong founded in 1997 gathered in a conference room as Armstrong arrived with a simple message: "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 spokesman 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.
The group included close friends and advisers, two of his lawyers and Bill Stapleton, his agent, manager and business partner. They exchanged handshakes and smiles, but declined comment when approached by a reporter. Most members of that group left the hotel through the front entrance around 5 p.m., although Armstrong was not with them.
No further details about the interview were available immediately because of confidentiality agreements signed by both camps. But Winfrey promoted it as a "no-holds barred" session, and after the voluminous USADA report ? which included testimony from 11 former teammates ? she had plenty of material for questions. 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."
Armstrong also 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.
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 got choked up as well 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. Lance could have a positive impact if he tells the truth on everything. He's got to be completely honest," she said.
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 yet another lawsuit seeking to recover more than $7.5 million an arbitration panel awarded the cyclist in that dispute.
In addition, 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. The Justice Department has yet to decide whether it will join the suit as a plaintiff.
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.
Whether his confession would begin to heal those ruptures and restore that reputation remains to be seen.
Diagnosed with testicular cancer in October 1996, the disease soon spread to his lungs and brains. Armstrong's doctors gave him a 40 percent chance of survival at the time and never expected he'd compete at anything more strenuous than gin rummy. Winning the demanding race less than three years later made Armstrong a hero.
___
Jim Litke reported from Chicago.
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