Year-over-year results were strong for Berkshire, but the firm's insurance operations fell short of expectations given market softness.
Ahead of its annual meeting this weekend, Berkshire Hathaway (BRK.A) (BRK.B) released results for the first quarter of 2012 that were much stronger than the results the firm reported in the year-ago period
For those that may not recall, Berkshire's insurance operations were negatively affected during the first quarter of 2011, with the firm booking an underwriting loss in excess of $800 million following a cornucopia of natural disasters: massive flooding in Australia (compounded by Cyclone Yasi), an
May the 4th be with you! 10 things worth celebrating about that galaxy far, far away on 'Star Wars Day'
by Christian Blauvelt 5/5/2012
After 35 years, Star Wars casts an ever-growing pop-culture shadow. Though the anniversary of the release of the original Star Wars falls on May 25, devotees of that galaxy far, far away have designated May 4, as in “May the 4th Be With You,” as the official day to party like a drunken Ewok. If you’re a diehard Star Wars fanatic, today would be the day to consider what an impact George Lucas’ space opera has had not only on J.J. Abrams, Joss Whedon, the guys at Pixar, and even Lady Gaga, but also on science, philosophy, and politics.
A lot of you also probably look at Star Wars as an unfulfilled childhood promise, a franchise that didn’t grow up with you and that’s now creatively dried up. You’ll complain about the prequels, shout down the addition of “Nooooo!” to Darth Vader’s climactic dialogue in Return of the Jedi, and bitch about Slave Leia dancing to “Genie in a Bottle” in Star Wars Kinect. Don’t give in to the Dark Side, guys! Star Wars is alive and well. If you’re willing to look beyond the big screen, and dive deep into
U.S. April hiring slows, jobless rate falls to 8.1 percent
By Jason Lange5/4/2012
WASHINGTON (Reuters) - Employers cut back on hiring in April and the jobless rate fell as people gave up the hunt for work, a somber note on the economy that could hurt President Barack Obama's re-election chances.
Employers added just 115,000 workers to their payrolls last month, the Labor Department said on Friday.
It was the third straight month in which hiring slowed, keeping fears alive that the U.S. economy is losing momentum. It also dampens hopes that a stretch of strong winter hiring signaled a turning point for the recovery.
"It shows sluggish growth," said John Doyle, currency strategist at Tempus Consulting in Washington.
The unemployment rate ticked a tenth of a point lower to 8.1 percent, a three-year low, as people left
Kentucky Derby will have a horse trained by Mike Harrington for the first time: Izenberg
By Jerry Izenberg/Columnist Emeritus 5/4/2012
LOUISVILLE, Ky. — They were killing time at Santa Anita earlier this spring, and the 71-year-old trainer who had knocked around more bush tracks than Bob Baffert could possibly imagine spoke up.
“You know,” Mike Harrington said to the three-time Kentucky Derby winner, “you get 15 good horses every year and I get one good one every 15 years. After the Derby, you and Todd Pletcher go home and look over next year’s crop. I don’t have any crop to look over and I ain’t never been to the Derby.”
But he’s been to a lot of places, from Bend, Ore., to Southern California. His future was the residue of
For the entire 10-year run of The Bachelor, the show's host, Chris Harrison, has been a married man.
Now that he will soon be single (Harrison and his wife of 18 years announced their split to PEOPLE exclusively Thursday), we couldn't help but wonder whether he'd consider swapping places with his suitors.
Perhaps the first Bachelorette (and perhaps the most beloved cast member of the series) Trista Sutter could play host, navigating Harrison, 40, through the dates,
rose ceremonies and on-air dramas. From people.com
By GILLIAN WONG and MATTHEW LEE | Associated Press 5/4/2012
BEIJING (AP) — China hinted at a possible, face-saving way out of a diplomatic standoff with the United States over legal activist Chen Guangcheng, saying Friday that he could apply for permission to study abroad.
The concession was offered in a Chinese Foreign Ministry statement while Chen remained in a guarded Beijing hospital ward, unable to see U.S. officials. His wife's movements are being monitored, he said, and the couple with their two children feel in danger.
"I can only tell you one thing. My situation right now is very dangerous," Chen said. "For two days, American officials who have wanted to come and see me have not been allowed in."
A blind, self-taught lawyer and symbol in China's civil rights movement, Chen embroiled Washington and Beijing in their most delicate diplomatic crisis in years after he escaped house arrest and sought refuge in the U.S. Embassy last week. He left six days later under a negotiated deal in which he and his family were to be safely relocated in China so he can formally study law. But he then upended the agreement by saying they wanted to go abroad.
Jason Ready, U.S. Border Guard Founder, Responsible for Murder-Suicide
By ICTMN Staff May 4, 2012 On May 3, Jason Todd Ready, founder of the U.S. Border Guard, entered a house in Gilbert, Arizona opened fire, killing four people before turning the gun on himself according to Gilbert Police Sgt. Bill Balafas in a Los Angeles Times article.
Ready, 39, who went by “J.T.”, was a former Marine who had been referred to as a racist, an extremist and a bigot who was involved in local politics according to The Times.
The shooting is under investigation, but is being described as a case of domestic violence. The house is where Ready lived with his girlfriend Lisa Lynn Mederos, 47; her daughter, Amber Nieve Mederos, 23; and he daughter’s boyfriend, Jim Franklin Hiott, 24. Ready also shot Amber’s daughter, Lily Lynn Mederos, who was a 15-month-old girl who died while being treated at a hospital The Times reported.
The Associated Press reported via CBS News, that Ready’s Guard group, a volunteer group, dressed in
Ilya Kovalchuk watched from home as his New Jersey Devils got even with the Philadelphia Flyers without him.
It wasn't easy for the offensive superstar to sit out Game 2 of the Eastern Conference semifinals, not only because his presence in the lineup makes his team that much better, but also because he has waited a long time to have an impact in the Stanley Cup playoffs.
When No. 17 returned to action Thursday night for Game 3, Kovalchuk was determined to not just play but to make a difference, too.
Kovalchuk set up the Devils' first goal by Patrik Elias, scored in the second period, and then made a brilliant pass in overtime to Alexei Ponikarovsky, who scored the winning goal at 17:21 to give the Devils a 4-3 victory Thursday and a 2-1 lead in the best-of-seven series.
"I feel good," Kovalchuk said. "I was well-rested. Two days off is always good. Sometimes you've got to take one step back to make two steps forward. It was a little pressure, too. The guys played so well in Game 2 and you don't want to get back in the lineup just because you want to play. You want to fit in right away and play the way they did in Game 2, and I think we did that and we got a win."
Webb Simpson was nervous playing in the same group with Tiger Woods. It sure didn’t show Thursday in the Wells Fargo Championship in Charlotte, N.C.
Simpson chipped in from 35 yards in front of the par-4 eighth green for eagle, and then made Woods shake his head and smile when he holed a 60-foot birdie putt that might have rolled off the 12th green if the cup didn’t get in the way.
It led to a 7-under-par 65 for a share of the first-round lead with Stewart Cink and Ryan Moore.
“I was nervous playing with Tiger. I prayed a lot out there,’’ said Simpson, who lives about a mile away from Quail Hollow and already was on edge about trying to perform well for the neighbors. “Once I made a couple birdies, I kind of enjoyed it.’’
With temperatures pushing 90 and barely a breeze, scoring conditions were ideal. The average was
Authorities say suicide bomber detonated explosives Friday as he approached police checkpoint, near market in Khar, main town of Bajaur tribal district
Officials say a suicide bomber in Pakistan's restive northwest tribal region, along the Afghan border, has killed 20 people and wounded at least 40. Five policemen are among the dead.
Authorities say the bomber detonated his explosives Friday as he approached a police checkpoint, near a market in Khar, the main town of the Bajaur tribal district.
Officials say no group has claimed responsibility for the attack, but the Pakistani Taliban has carried out similar attacks in the past.
Final polls suggest close result, Hollande win in French presidential election
By Associated Press, Updated: Friday, May 4, 2:51 AM
PARIS — The final polls before France’s presidential election Sunday show President Nicolas Sarkozy making up ground on Socialist challenger Francois Hollande — but still predict a Hollande victory.
Sarkozy on Friday predicted a “surprise” and Hollande urged his voters to avoid complacency as the bitter campaign neared its climax, driven by fears about joblessness, immigration and France’s economic future.
By Alan Duke and Chelsea J. Carter, CNN updated 3:07 AM EDT, Fri May 4, 2012 Los Angeles (CNN) -- Funeral arrangements may be announced Friday for Junior Seau, a day after authorities said that the football icon committed suicide.
The San Diego County medical examiner's office Thursday classified the death of the former NFL linebacker as a suicide, but the finding will probably do little to answer questions swirling since he was found with a self-inflicted gunshot wound to the chest.
Toxicology results and the narrative that could reveal contributing factors in the death could take weeks or longer to complete, said Sarah Gordon of the medical examiner's office.
Since news broke that Seau was found Wednesday in his Oceanside, California, home with a gunshot wound to the chest, there has been speculation about whether repeated hits to his head over his 20-year pro career could be a contributing factor.
Russian President Dmitry Medvedev believes that the criminal case against former Ukrainian Prime Minister Yulia Tymoshenko is politically biased.
“As before, Medvedev considers it a political affair,” Medvedev’s spokesperson Natalya Timakova said, cited Rossiya-1 TV channel.
Last year, Tymoshenko – President Viktor Yanukovich’s main political rival – was sentenced to seven years in prison for abuse of office when signing the 2009 gas deals with Moscow.
From the very outset of the Tymoshenko case, Medvedev had stressed that the trial should not possess a political or anti-Russian dimension, the president's press-secretary noted.
Moscow has repeatedly stressed that all the signed agreements fully correspond with both Russian and Ukrainian law.
Mitt Romney, President Obama in virtual tie in Ohio, Florida: poll
Just a month ago, Obama was ahead in both states BY ALIYAH SHAHID / NEW YORK DAILY NEWS Thursday, May 3, 2012
Mitt Romney is hot on President Obama’s heels.
A new Quinnipiac University poll shows the presumed Republican presidential candidate in a virtual tie with Obama in the key, battleground states of Florida and Ohio.
Just a month ago, Obama was ahead in both states.
In the Sunshine State, 44% of likely voters favored Romney, compared to 43% for Obama, according to the survey, which was released Thursday. In March, the President led the state by seven points.
And in Ohio, Obama’s lead — at six points in March — has shrunk, too. The President accrued 44% to Romney’s 42%.
Both of the state’s results came within the margin of error of plus or minus 2.9 percentage points.
The good news for Obama is that he still holds a decent lead in Pennsylvania, which was also included in the survey. In fact, he has gained ground — from six to eight points against Romney since March — at 47% to 39%.
“Romney’s ability to cut into the President’s leads in Ohio and Florida reflects two changes in the political environment: First, since he is now the de facto nominee, Romney is no longer being attacked by his fellow Republicans, who are closing ranks behind him,” said pollster Peter Brown.
“Second, voter optimism about the economy has leveled off, reflecting economic statistics over the past month and the public reaction to them.”
Among the poll’s other findings:
-Overall, voters in Ohio and Florida think Romney would be better at fixing the economy than Obama.
- Romney has a 10-point lead over Obama among men in the Buckeye State.
- Women tend to favor Obama over Romney in Pennsylvania by a sizable 52%-35%.
- New Jersey Gov. Chris Christie, Florida Sen. Marco Rubio and Ohio Sen. Bob Portman top the GOP vice presidential guess list.
The poll of 1,169 voters in Florida, 1,130 voters in Ohio and 1,168 voters in Pennsylvania was conducted April 25 to May 1.
Good news for prospective homebuyers, bad news for those looking for signs of economic life in housing: Mortgage rates hit new record lows last week, thanks to underwhelming growth and economic concerns.
We've been following the weekly rates as the housing bulls and bears continue to declare bottoms and not-bottoms. Freddie Mac said Thursday the 30-year mortgage rate fell for a second week, to 3.84%, down from its previous all-time record low of 3.87% on February 9. The 15-year fixed average also fell to a new all-time low of 3.11%.
By Lucia Mutikani
WASHINGTON (Reuters) - The number of Americans filing new claims for jobless aid fell more than expected last week, easing fears the labor market recovery was stalling.
Initial claims for state unemployment benefits dropped 27,000 to a seasonally adjusted 365,000, the Labor Department said on Thursday.
The biggest weekly drop in claims since early May last year helped to lift some of the dark cloud cast over the labor market by a report on Wednesday from payrolls processor ADP showing private employers in April created the fewest jobs in seven months.
"This offsets the concerns from yesterday's ADP number. You're getting mixed signals...It might not be as bad as we were thinking after ADP," said Phil Flynn, a senior market analyst at PFG Best in Chicago.
News: U.S. initial jobless claims last week 365,000 better than expected
U.S. Department of Labor announced that the first time jobless claims to 365,000 in the week ended April 28. According to Bloomberg News survey of economists on average expected 378,000. The previous week's 388,000.
U.S. hidden unemployment of 86 million labor force participation rate is declining
imeigu.com 2012-05-03 Source: Sina Finance original link
Sina Finance, Beijing time on May 3 evening news, according to CNN, the U.S. unemployment number as many as may be far more than the imagination. Although the official unemployment rate is declining, but that did not calculate the adults that are no longer looking for work, hidden unemployment is a staggering 86 million. Compared with the number of working-age population, the current workforce size is the smallest since the 1980s.
Only-the-job or in the past four weeks to find one of the workers
RIM CEO Thorsten Heins made it clear at BlackBerry World that the LTE PlayBook tablet is coming later this year. This announcement is no surprise, yet it is confirmation of what we knew was coming. A BlackBerry PlayBook rocking 4G connectivity has been spied at FCC in the past hinting it was close to coming to market.
With confirmation that the tablet is on its way, we still don’t know a firm launch date. Heins would only say, “later this year.” The bigger question now is with every other version of the PlayBook having failed at anything resembling a normal price, why does RIM think a 4G LTE version will do well?
RIM apparently believes that BlackBerry 10 will solve some of the problems the tablet had. The company is reportedly happy with the hardware, and the software seems to be lacking point. Would a PlayBook tablet with 4G LTE support BlackBerry 10 interest you? I think unless the tablet was very cheap most people will still opt for the iPad.
By Andrew Frye | Bloomberg5/3/2012 Berkshire Hathaway Inc. (BRK/A) shareholders missed out on better returns from the Standard & Poor's 500 Index by sticking with Chairman Warren Buffett after each of his last three annual meetings.
Berkshire fell 2.4 percent from the firm's April 30, 2011, meeting through yesterday, compared with the 2.8 percent advance in the S&P 500. (SPX) This year's gathering, planned for May 5 in Omaha, Nebraska, concludes three years in which Berkshire climbed about 32 percent, trailing the S&P 500's gain of around 60 percent.
Buffett, 81, is seeking to reassure investors that the $200 billion company he built over 42 years as chief executive officer is positioned to thrive after his eventual departure. Growth slowed in the last 15 years as Buffett, a former hedge fund manager, directed Berkshire's earnings toward takeovers in industries like machine tools, power production and railroads.
"They're very steady, but they're not necessarily fast growers," Cliff Gallant, an analyst at KBW Inc., said about Berkshire operating units. A "lack of clarity" about Buffett's successor may also be weighing
Offspring of California mad cow case tracked down, euthanized
The Associated Press
Date: Thursday May. 3, 2012
FRESNO, Calif. — Investigators looking into California's first case of mad cow disease say they have tracked down at least one of her offspring in another state.
It was euthanized and tested for the disease, also known as bovine spongiform encephalopathy. The test was negative.
USDA officials said Wednesday that the diseased cow had at least one other offspring within the last two years, but it was stillborn. They did not say how that carcass was disposed.
The USDA announced April 24 that the nation's fourth case of mad cow disease was discovered in the 10-year-old cow. It had been euthanized and at a Tulare County dairy and sent to a rendering plant. That dairy and another associated with it are under quarantine.
A calf ranch where the cow was raised also is under investigation.
WASHINGTON (AP) As one overtime led to another and then another, the New York Rangers and Washington Capitals waged an epic duel that was part hockey game and part survival contest.
The Rangers and Capitals played a game so long, one day turned in another. Until, finally, Marian Gaborik scored at 14:41 of the third overtime early Thursday to give New York a 2-1 win and 2-1 lead in this fiercely contested Eastern Conference semifinal series.
Henrik Lundqvist, who stopped 45 shots for the Rangers, spent the better part of 4 1/2 hours repelling pucks and shooing skaters from the crease. Between periods, he did the best he could to prepare for the next grueling 20 minutes.
''Just rest, eat, drink,'' he said. ''I don't know how much I drank, but it was a lot.''
The situation was similar in the Capitals locker room.
Bachmann to endorse Romney, plus more to watch for Thursday in politics
By Phil Pruitt May 3, 2012
Michele Bachmann is set to endorse Mitt Romney on Thursday at a joint appearance in Portsmouth, Va.
It will be interesting to see what she says. ABC News' Jonathan Karl reports that shortly before she ended her campaign, Bachmann told him that there was no way Romney could beat President Barack Obama.
Virginia Gov. Bob McDonnell also will be at the Portsmouth event with Romney. He has been mentioned as a VP possibility.
If you are conducting a Ron Paul watch, you'll find him campaigning Thursday in California. He has a luncheon in Sacramento and a "Youth for Ron Paul" town hall meeting at the University of California-Davis.
President Obama and first lady Michelle Obama will host a Cinco de Mayo reception this afternoon at the White House.
And then there is this: The John Edwards trial will enter its ninth day. There could be more sordid testimony — and more tears.
Rdio sneaks into UK and France. Will you be using it?
By Bobbie Johnson May. 3, 2012, 12:58am PT We were a few weeks off with the prediction that Rdio would be launching in the U.K. — but only a few. In the early hours Thursday morning European time, the music streaming service quietly rolled out in Britain and France
The offering is pretty familiar: Rdio is delivering the same web-based streaming service as it does elsewhere. It looks like there have been some local additions to the catalog, but there are a few touches that suggest localization of the service itself has not been a serious priority — signup, for example, uses American-style date format rather than the European one, which feels a little off.
The big story, of course, is the competition with Spotify. The unannounced arrival takes the San Francisco startup directly onto its London-headquartered rival’s home turf, nearly a year after Spotify
European stocks rose early on Thursday after results from bellwethers Societe Generale and France Telecom reassured investors, but a sharp rise in Spain's borrowing costs at a bond auction dampened the mood.
Shares in Societe Generale climbed 2.8 percent after a surprise surge in the French bank's trading revenues from its bond, currency and commodity desks helped soothe the effect of a series of one-off charges.
Other banks gained ground, with French investment bank Natixis up 1.6 percent, Spain's Bankinter up 1.5 percent and Italian lender Intesa SanPaolo up 0.9 percent.
At 0856 GMT, the FTSEurofirst 300 index of top European shares was up 0.5 percent at 1,049.62
World powers urge North Korea to refrain from nuclear test
5/3/2012
(Reuters) - The five permanent members of the U.N. Security Council urged North Korea on Thursday to refrain from any new nuclear tests amid speculation Pyongyang may soon carry out such an explosion.
North Korea, which tested plutonium devices in 2006 and 2009, has almost completed preparations for a third nuclear test, a senior source with close ties to Pyongyang and Beijing told Reuters last month.
"We...call on (North Korea) to refrain from further actions which may cause grave security concerns in the region, including any nuclear tests," said a joint statement by the United States, France, Russia, China and Britain delivered at a nuclear meeting in Vienna.
The isolated state sacrificed the chance of closer ties with the United States after it tried to test-launch a
Munch’s The Scream nabbed for a record $119.9-million in New York auction
from theglobeandmail.com5/3/2012 One of the art world's most recognizable images — Edvard Munch's The Scream — sold Wednesday for a record $119,922,500 at auction in New York City.
The 1895 artwork — a modern symbol of human anxiety — was sold at Sotheby's. Neither the buyer's name nor any details about the buyer was released.
The previous record for an artwork sold at auction was $106.5 million for Picasso's Nude, Green Leaves, and Bust, sold by Christie's in 2010.
Munch's image of a man holding his head and screaming under a streaked, blood-red sky is one of four versions by the Norwegian expressionist painter. The auctioned piece at Sotheby's is the only one left in private hands.
The image has become part of pop culture, “used by everyone from Warhol to Hollywood to cartoons
Former NFL star Junior Seau found dead in California home
From theglobeandmail.com5/3/2012 Former Atlanta Falcons safety Ray Easterling, who had joined in a concussion-related lawsuit against the league — one of dozens filed in the last year — died last month at age 62. His wife has said he suffered from depression and dementia after taking years of hits.
Seau, however, is not known to have been a plaintiff in the concussion litigation.
When Humphries joined the Chargers in a 1992 trade, he said it was obvious Seau was “the person who had the most energy, the most excited, the guy who tried to rally everybody.” Humphries said Seau “brought out a lot of youngness” in older players.
He also helped younger players.
“So sad to hear about Jr Seau,” tweeted New Orleans Saints quarterback Drew Brees, who was with
Dow, S&P 500 fall as private-sector hiring spurs worry
By Edward Krudy 5/2/2012
NEW YORK (Reuters) - The S&P 500 and the Dow edged lower on Wednesday as data showed that private sector hiring fell far more than expected in April, sparking concerns that Friday's U.S. jobs report will also disappoint investors.
Private employers added 119,000 jobs in April, well short of the 177,000 expected, the ADP report showed. That sparked market rumors that Friday's payrolls data will show the economy added just 125,000 to 150,000 jobs last month, well below a Reuters consensus forecast of 170,000.
"If fewer and fewer people are participating in this recovery it suggests underlying weakness that we
The Chen Guangcheng Affair: U.S. Denies China Dissident’s Account of Coercion
By JAY NEWTON-SMALL 5/2/2012 U.S. EMBASSY BEIJING / REUTERS
Blind activist Chen Guangcheng, right, makes a phone call as he is accompanied by U.S. Ambassador to China Gary Locke in a car on the way to a hospital in Beijing, May 2, 2012.
U.S.officials and friends of Chen Guangcheng were stunned by reports Wednesday morning that the blind Chinese human rights activist said he was coerced into leaving the protection of the U.S. embassy in Beijing and is seeking asylum in the U.S. with his family.
Chen told the Associated Press that U.S. officials relayed threats from the Chinese government that his wife would be beaten to death if he did not leave the embassy – an account the State Department vehemently disputes. “At no time did any U.S. official speak to Chen about physical or legal threats to his wife and children,” State Department spokesman Victoria Nuland said in a statement. “Nor did Chinese officials make any such threats to us.”
15 million of world's babies are born prematurely: U.S rate far higher than similar countries
5/2/2012
In the U.S are half a million babies born too soon
Half a million babies are born too soon in the US - and at a rate far higher than in Europe or other similar countries.
A new report finds some 15 million premature babies are born every year - more than 1 in 10 of the world's births and a bigger problem than previously estimated.
The first country-by-country count of the problem shows most preemies are born in Africa and Asia. But it's a problem for the U.S., too, where half a million babies are born too soon - and at a rate far higher than in Europe or other similar countries.
The toll: some 1.1 million of the world's preemies die.
The report estimates that three-quarters of the deaths could be prevented by spreading some simple, inexpensive treatments to low-income countries - including teaching "kangaroo care," in which moms carry their tiny babies nestled skin-to-skin on their bare chests for warmth when there are no incubators.
BY JOSÉ BAYONA / NEW YORK DAILY NEWS Wednesday, May 2, 2012
Cinco de Mayo on May 13? Sounds like a joke, but it’s happening this year.
The 11th edition of the popular Cinco de Mayo Festival in Flushing Meadows-Corona Park will take place Sunday, May 13, instead of the usual first Sunday of May.
Organizers are making the most of it, deciding to celebrate not only the anniversary of the Battle of Puebla but also Mother’s Day, two themes they call dear to the Mexican community.
“This weekend, the Mets play at the Flushing stadium and the city moved our festival for the weekend
Tyler Perry Studios catch fire; blaze under investigation
By Sarah Anne Hughes 5/2/2012
A large fire broke out at Tyler Perry Studios in Atlanta Tuesday evening, requiring more than 100 firefighters to respond to the scene, according to the Associated Press.
The four-alarm blaze was contained to one building on the 60-acre complex, the Atlanta Journal-Constitution reported. The cause of the fire is under investigation, according to the paper. No injuries were reported and the extent of the damage is not known.
Kind thoughts and well wishes poured into the section of Perry’s Web site devoted to the studio, as news of the fire spread.
Tyler Perry Studios was moved into the 200,000-square-foot Atlanta facility in 2008, according to the “Madea” director’s Web site. The site houses five soundstages, a theater, a post-production facility and a back lot, as well as a chapel, pond and gym.
Perry, who was at the complex at the time of the fire, has not publicly commented on the blaze.
The facade of a building at Tyler Perry Studios in southwest Atlanta, shows damage caused by a fire, May 1, 2012. (Curtis Compton - AP/Atlanta Journal-Constitution)
By CHUCK BARTELS | Associated Press 5/2/2012 SEARCY, Ark. (AP) — An Arkansas woman who cashed a $1 million lottery ticket may have to give up the winnings to a woman who threw away the ticket after she bought it, according to a judge's ruling Tuesday.
The judge decided that Sharon Duncan was entitled to the prize money, not Sharon Jones, who claimed the prize money after she took the ticket from a trash can of discarded lottery tickets at a convenience store in Beebe, a city about 40 miles northeast of Little Rock.
Jones' attorney, James Simpson, said he plans to appeal. Jones had testified that she already spent some of the money on a new truck and cash gifts to her children.
Simpson noted that Duncan testified she threw away the ticket after the read-out on a ticket scanner said, "Sorry. Not a winner." The attorney argued that people shouldn't be allowed to throw items away and then say, "'ooh, I want to un-abandon it.'"
"We'd have garage-sale law all over the place," he said. "It became trash when someone threw it away."
White County judge Thomas Hughes, however, said Jones never met the burden of proof that Duncan abandoned her right to claim $1 million.
"The $1 million was never found money," Hughes said.
Earlier Tuesday, Jones testified that she gathered a handful of discarded tickets from the trash can — as she had done many times before — and said there was no sign alerting customers not to take tickets.
Jessica Simpson's Baby Name Choice Stirs the Web
By Claudine Zap | Yahoo! TV 5/2/2012
For months, fans have followed Jessica Simpson’s baby bump, baby shower, baby shopping. Is it any wonder then -- now that the star has welcomed her daughter -- that attention has turned to the newborn’s name? Simpson announced the arrival of one Maxwell Drew Johnson, and a storm of comments hit the Web.
The name Maxwell has a family history from dad Eric Johnson's side -- it's his middle name and his grandmother's surname. Drew is the maiden name of Jessica's mother, Tina Simpson.
And Life & Style was first to report that the parents plan to call their baby Maxi for short.
Back in April, Simpson talked baby names to Elle magazine and promised "It's nothing shocking and nothing you'll have to add to the dictionary. Still, when people hear it they'll know … why."
Well, if the hundreds of comments on Yahoo! are any guide, J-Simp couldn’t have been more wrong.
While wishing the new mother and child well, some couldn’t help but weigh in on the choice of the name. One wrote, “Maxwell? That's like naming a boy Julie. You can call her Maxi but her license will always say MAXWELL and that is just wrong. Poor thing.”
Another wrote, “Cute name but they are going to go round and round at the school over being called Maxi pad all of her school days.”
Annie81 worried, “What is it with these people and baby names? Maxwell? It's not enough that sounds like a BOY'S name... it's going to be the source of 1000's of jokes and kids making fun of her.”
CZL noted, “Not fond of Maxwell for a girl, but since it is a family name I can see where it makes some sense.”
Commenter Allen wrote, “Maxwell? May as well named it Bob.”
Others liked it: As one wrote, “Maxwell, smart.” Loretta added, “It's still better than Blue Ivory, Apple, Rumor,etc.”
For their part, the happy parents are thrilled with baby Maxwell. Writing on Simpson's website, the couple exclaimed, “We are so grateful for the love, support and prayers we've received. This has been the greatest experience of our lives!!"
Wealthy Americans Queue to Give Up Their Passports
By Giles Broom | Bloomberg 5/2/2012
Rich Americans renouncing U.S. citizenship rose sevenfold since UBS AG (UBSN) whistle-blower Bradley Birkenfeld triggered a crackdown on tax evasion four years ago.
About 1,780 expatriates gave up their nationality at U.S. embassies last year, up from 235 in 2008, according to Andy Sundberg, secretary of Geneva's Overseas American Academy, citing figures from the government's Federal Register. The embassy in Bern, the Swiss capital, redeployed staff to clear a backlog as Americans queued to relinquish their passports.
The U.S., the only nation in the Organization for Economic Cooperation and Development that taxes
By Suzanne Vranica | The Wall Street Journal 5/2/2012
The doubt lingers as bankers and prospective investors decide how to value Facebook for an initial public offering planned for May 18, said people familiar with the matter. Facebook executives will be pitching the company to investors in an IPO roadshow starting Monday, these people said.
"The question with Facebook and many of the social media sites is, 'What are we getting for our dollars?'" said Michael Sprague, vice president of marketing at Kia Motors Corp.'s North American division.
The automaker has advertised on Facebook since 2009 and plans to increase its ad spending on the site. While building brand awareness on a site with 900 million users is valuable, Mr. Sprague said he's unclear if "a consumer sees my ad, and does that ultimately lead to a new vehicle sale?"
'Dancing With the Stars' results recap: A duel to the finish
May 2, 2012 Well, that was as close to a surprise elimination as we’ve seen this “Dancing With the Stars” season. Ultimately, “Family Matters” star and erstwhile Steve Urkel, Jaleel White, and his pro partner Kym Johnson were ousted after a nail-bitingly close Dance Duel rumba in this seventh week of competition.
Once again, the decision came down to the judges, in the final Dance Duel of the season. And the judges unanimously opted for fellow bottom-dwellers Roshon Fegan and Chelsie Hightower to stay overJaleel and Kym (the low-scoring team of Melissa Gilbert and Maks Chmerkovskiy were saved by viewer votes). The judges thought Jaleel had started off strong but lost confidence and connection as the routine wore on. Roshon, however, maintained a laser-like focus on the rumba and his partner.
Though it didn’t help that just before the dreaded dance duel Jaleel deemed Len “the old guy outside the grocery store who won’t give you any money for candy.”
Maybe he shouldn’t have bit the hand that feeds him. At least not right before he decided his fate on the show. And although he did have dancing talent, Jaleel seemed a little too slick and intense to really
Roundup: Bryant’s 38 points lift Lakers past Nuggets
ASSOCIATED PRESS MAY 02, 2012
Kobe Bryant scored 38 points, Andrew Bynum followed up his playoff-opening triple-double with 27 points and nine rebounds, and the Lakers weathered Denver’s late rally for a 104-100 victory over the Nuggets Tuesday night in Los Angeles, taking a 2-0 series lead.
Pau Gasol had 13 points, 10 rebounds, and 5 assists for the third-seeded Lakers, who still haven’t trailed in this series despite nearly crumbling against a much-improved effort by the Nuggets and Ty Lawson, who scored 25 points.
Los Angeles’s 19-point lead in the third quarter dwindled to 4 with 3 minutes to play, but Ramon Sessions scored 4 key points in the final 1:14 before Bryant’s icing free throws with 9.4 seconds left.
NEW YORK (CNNMoney) -- Occupy May Day went global on Tuesday, as demonstrations stretched from California to New York and from Europe to the Caribbean.
Occupy San Francisco got an early start to the traditional May Day workers' protest, kicking off its organized rally at 8 p.m. local time on Monday.
"San Francisco, once a stronghold of the dispossessed, has become a playground for the rich and a living hell for those of us who can't keep up or have no interest in capitalist relations," Bay Area protest organizers said in a statement.
On Tuesday, rush hour traffic was flowing on the Golden Gate Bridge, despite protesters' threats to shut it down.
In Southern California, protesters scheduled a rally against allegedly unfair labor practices at Los Angeles International Airport, according to Occupywallst.org.
An airport police spokeswoman said the gathering proceeded without any disruption to airport operations.
France's Hollande urges ECB to lend to states via bailout fund
5/2/2012
* Says ECB should lend to ESM fund rather than banks
* ECB, Germany would reject such a plan
* Has sparred with Sarkozy over economy ahead of runoff
PARIS, May 2 (Reuters) - The European Central Bank should more actively help struggling euro zone states by lending them money via the region's bailout fund, the man on course to be France's next president said on Wednesday.
In comments likely to raise hackles among ECB policymakers and in Berlin, Socialist Francois Hollande said that, since the central bank was not inclined to offer loans to governments, it should instead lend to the European Stability Mechanism (ESM).
Tipped to easily beat incumbent Nicolas Sarkozy in Sunday's election runoff, Hollande said in an
By Ben Rooney @CNNMoneyInvest May 2, 2012 NEW YORK (CNNMoney) -- As recession spreads across Europe, Germany may not be able to avoid being dragged down.
In the past week, Spain and the United Kingdom revealed that they had slipped back into recession, with two straight quarters of economic contraction.
In all, 12 European economies are now officially in recession.
Germany, the largest euro economy and the fourth largest worldwide, could be next: Its economy shrank 0.2% in the last three months of 2011, and it is expected to show another contraction when it releases data for the first quarter in mid-May.
"It's quite likely the German economy also contracted at very modest pace in the first quarter, which would technically fulfill the recession criteria," said Christian Schulz, a London-based economist at Berenberg Bank, the oldest private bank in Germany.
Published May 02, 2012
Associated Press
PHILADELPHIA – No Ilya Kovalchuk, no problem for New Jersey.
With the injured Devils forward out for Game 2, Adam Larsson traded his seat in the rafters for an up-close look at postseason play.
He might get to stick around.
Larsson scored the first playoff goal of his career off a wrist shot in the third, igniting a four-goal outburst in the period that rallied the Devils to a 4-1 win over Philadelphia on Tuesday night and tied the best-of-seven series at 1-1.
"I'm not a goal scorer so I was happy for that," he said. "I was happy for that and I think you can see that we get everybody going after that. We score two, three, four there, so it was very important."
NEW YORK (MarketWatch) — I won’t bore you with the nitty gritty of the old saw, “sell in May and go away.” Basically, it is a quick way to remember that the summer half of the year is not often kind to investors.
With a year’s worth of gains already logged in the first quarter and technical deterioration across the board it does look like the bears are poised to take control.
Stocks logged one of their best first quarters on record this year but the fun ended when the Federal Reserve took their T-bird away. By hinting that it would no longer flood the market with cheap money — a new round of quantitative easing — it gave the market’s natural forces a chance to reassert themselves. And they did.
As last month ended, major market indexes had broken down below respective rising trendlines and smaller capitalization indexes were below 50-day moving averages. The bears were back.
The question is whether May will see downside follow through and the evidence suggests that it will.
By Lucy Hornby
BEIJING (Reuters) - China's official purchasing managers' index (PMI) rose to a 13-month high in April, signaling the economy has found a footing and may be recovering from a first-quarter trough, but smaller factories are still struggling.
The pick-up in the PMI to 53.3 from 53.1 in March indicated a further expansion in the vast factory sector, although it was slightly below market expectations of 53.6. Readings above 50 signal expansion while those below 50 point to contraction.
The manufacturing output sub-index rose to 57.2 from 55.2 in March. However, the National Bureau of Statistics noted many important industries remained weak with index readings below 50, among them chemicals, equipment, autos and oil refining.
Reserve Bank of Australia cut interest rates by 50 basis points
From imeigu.com 2012-05-01
Sina Finance SAN FRANCISCO, May 1, Reserve Bank of Australia on Tuesday the cash rate down 0.5 percentage points to 3.75 percent, the market had expected the rate cut of 25 basis points.
Reserve Bank of Australia governor Glenn Stevens said in a statement, "We consider the rate cut at today's meeting that the current financial environment should be more relaxed than in December."
Stevens said, "We believe it is necessary to cut interest rates by 50 basis points, because only in this way, the loan interest rate also reached a more reasonable level."
Cut interest rates after the Reserve Bank of Australia announced that the Australian dollar exchange rate fell to $ 1.0334 from $ 1.0398. Australia's S & P / ASX 200 index rose 0.9 percent to 4437.00 points.
The U.S. Treasury is expected to issue bonds within six months of $ 447 billion
imeigu.com 2012-05-01 08:36:01 Source: Sina Finance original link
WASHINGTON, April 30 (reporter Jiang Xufeng Fan Yu) The U.S. Treasury Department said in a statement on April 30, April to September this year, the Ministry of Finance plans to issue $ 447 billion of net merchantability debt.
The statement said that between April and June this year, the U.S. Treasury plans to issue $ 182 billion of net merchantability debt. The issuance size than the predicted value in January this year decreased by $ 19 billion.
The U.S. Treasury Department pointed out that during July 2012 to September, plans to issue $ 265
The Markit/CIPS Manufacturing Purchasing Managers' Index (PMI) dropped to 50.5 in April from a downwardly revised 51.9 in March
by Phillip Inman guardian.co.uk1 May 2012
UK manufacturing PMI, up to April 2012. Photograph: Markit
UK manufacturing growth slowed to a virtual standstill last month after a drop in new orders from the eurozone hit confidence across the sector.
The Markit/CIPS Manufacturing Purchasing Managers' Index (PMI) dropped to 50.5 in April from a downwardly revised 51.9 in March, keeping the sector just above the 50 level which separates growth from contraction.
The reading, the lowest since December, will disappoint the chancellor, George Osborne, who is already reeling from news last week that the UK has entered a double-dip recession after two consecutive quarters of negative growth.
Economists had forecast only a small dip in growth to 51.5 after a string of positive surveys through February and March had raised hopes of a recovery. The weak data could force the Bank of England's
The Gingrich Legacy: With Politics and Profiteering Behind Him, What’s Next for Newt?
By ALEX ALTMAN5/1/2012
On Wednesday in Washington, Newt Gingrich will bury a campaign that has been dead so long it’s begun to smell. It’s tempting to view the narrative arc of Gingrich’s last 90 days as a tragedy: the wily antihero who rose from the ashes (twice!), only to fall victim to his own hubris. “Newt, there’s still time, man!” President Obama jeered at his erstwhile rival on Saturday night. Obama isn’t the only one snickering.
UK report says News Corp showed willful blindness on hacking
(Reuters) - Rupert Murdoch's News Corp showed "willful blindness" about the scale of phone-hacking at its News of the World tabloid, for which Murdoch and his son James should take responsibility, a British parliamentary report said on Tuesday.
The long-awaited report by a committee of lawmakers said Rupert Murdoch was not fit to run a major international company, which had shown "huge failings" of corporate governance, and it raised questions about James Murdoch's competence.
"News International and its parent News Corporation exhibited willful blindness, for which the companies' directors - including Rupert Murdoch and James Murdoch - should ultimately take responsibility," it said.
"Their instinct throughout, until it was too late, was to cover up rather than seek out wrongdoing and discipline the perpetrators," the lawmakers said in an 85 page report.
"Even if there were a 'don't ask, don't tell' culture at News International, the whole affair demonstrates huge failings of corporate governance," they concluded.
(Reporting by Kate Holton and Georgina Prodhan; editing by Paul Hoskins)
