Wednesday, January 25, 2012

Romney paid less taxes than highest wage-earners (Reuters)

TAMPA, Fla./WASHINGTON (Reuters) ? Republican presidential candidate Mitt Romney bowed to political pressure and cracked the books on his personal finances on Tuesday, releasing U.S. tax returns showing he pays a lower effective tax rate than many top wage-earners.

Unlike most Americans who get a paycheck, Romney earns the majority of his income from investment profits, dividends and interest. The returns showed he will pay $6.2 million in taxes on $42.5 million in combined 2010 and 2011 income.

Romney, the former governor of Massachusetts, and his wife Ann paid an effective tax rate of 13.9 percent in 2010 and expect to pay a 15.4 percent effective tax rate when they file their returns for 2011.

Those rates are roughly in line with the effective tax rates paid by most Americans, but they are far below the top income tax rate levied against wages, which is 35 percent, because the U.S. tax code favors investment income over wage income.

One of the wealthiest Americans ever to run for the White House, Romney did not release returns from the years when he made his fortune buying and selling companies as a private equity financier with Bain Capital, but the returns that he did release showed Bain gave him a special tax advantage.

Romney got about $13 million in income over the past two years from "carried interest," a form of earnings that is available to private equity partners and taxed at the 15-percent investment income tax rate, not the higher wage income rate.

The "carried interest" provision of the U.S. tax code has repeatedly been targeted for elimination by Democrats who say it is unfair, while the private equity industry defends it. A campaign spokesman said that Romney "has not addressed carried interest specifically in this campaign."

GINGRICH QUESTIONED FINANCES

Romney released the tax returns after a week when his chief Republican presidential nomination rival, former U.S. House of Representatives Speaker Newt Gingrich, questioned whether Romney was hiding information about his finances and cast him as being out of touch with most Americans.

For 2011, about 46 percent of Americans will pay no federal individual income taxes, most of them because they are poor, according to the Tax Policy Center, a think tank.

Counting all U.S. taxpayers, the average tax rate is 11 percent, according to The Tax Foundation, another think tank.

Effective tax rates vary wildly from person to person due to the maze of deductions, exemptions and credits in the tax code, which has not been thoroughly overhauled in 25 years.

Romney's estimated net worth is $190 million to $250 million. "Governor Romney's investments are reported and taxed in full compliance with U.S. tax laws," said Romney campaign counsel Ben Ginsberg on a conference call with reporters.

The Republican candidates are fighting for the nomination to face President Barack Obama, a Democrat, in the November 6 election. The next state primary contest is in Florida on January 31.

Gingrich's attacks helped him upset Romney in the South Carolina primary on Saturday. Since then, Romney has fired back with attacks questioning Gingrich's character and judgment.

The release of Romney's tax returns is meant to blunt Gingrich's criticisms, but it could also add to a broad debate about the fairness of the tax code and U.S. income inequality, as reflected in the Occupy Wall Street protests nationwide.

Romney campaign officials said his tax rate is based mostly on blind trust investment income. Returns were released for three blind trusts. The officials said Romney makes no decisions on how money is invested.

FUNDS IN CAYMAN ISLANDS

They said that Romney's holdings include amounts in funds based in the Cayman Islands and other overseas entities.

The Cayman holdings and holdings in a Swiss bank account - closed in 2010 after an adviser decided it could be politically embarrassing to Romney - were reported on tax returns and were not vehicles to avoid taxes, the advisers said.

Brad Malt, who oversees the Romney blind trusts, said on the conference call that Romney's wife's trust had a $3 million bank account at UBS AG, the Swiss bank giant. Malt said he closed the bank account in late 2010.

Malt said that "taxes were all fully paid" on the account, but that "it just wasn't worth it; I closed the account."

The tax returns showed Romney and his wife contributed $7 million in charity over the two years covered, much of it going to the Mormon church. That represents more than 15 percent of the Romneys' income for those years.

Romney had total capital gains income of $12.5 million for 2010 and an estimated $10.7 million for 2011.

Asked why Romney was not releasing tax records for the years in the 1980s and 1990s in which he made his fortune at Bain, Ginsberg said the two years covered by the tax returns should give a broad picture of Romney's financial situation.

"We're not going to get into the game of once you give them something, they demand more," Ginsberg said. "This is a fulsome release and we're proud of it."

FUZZY ANSWERS HURT

The tax issue may have been a factor in Romney's loss to Gingrich in the South Carolina primary last Saturday. It became a distraction to Romney's campaign, and Romney's fuzzy answers on releasing his records aggravated the problem.

First he said he might release them, or might not. When the questions kept coming, he said he would put them out in April, after his 2011 forms were completed. Only after he was defeated in South Carolina did his aides say he would release them this week. Gingrich has released his returns for 2010, but has not released an estimate for last year, as Romney did.

Long considered the front-runner for the 2012 Republican presidential nomination, Romney was staggered by Gingrich's lopsided win in South Carolina, and is looking to regain enough momentum to defeat Gingrich in Florida.

(Additional reporting by Lynnley Browning and Patrick Temple-West; Editing by Kevin Drawbaugh and Eric Walsh)

Source: http://us.rd.yahoo.com/dailynews/rss/gop/*http%3A//news.yahoo.com/s/nm/20120124/ts_nm/us_usa_campaign_romney_taxes

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Tuesday, January 24, 2012

Stocks end mixed as Greece negotiates to cut debt (AP)

NEW YORK ? The S&P 500 index eked out a tiny gain Monday while traders kept an eye on talks in Europe to cut Greece's crushing debt load and prevent a global financial crisis. Other indexes ended slightly lower.

The S&P added 0.62 of a point to close at 1,316 on Monday. The broad market measure has now closed higher on 12 of 14 days this year.

European stocks and the euro rose after the continent's finance ministers put pressure on banks that hold Greek government bonds to accept new ones that are worth half as much and carry a lower interest rate.

The Greek stock market gained 5 percent, and indexes in Germany, France, Spain and Britain all advanced less than 1 percent. The euro rose more than a penny to $1.302, close to its highest level against the dollar this year.

Negotiators are trying to prevent a disorderly default by Greece in March. The worst-case scenarios include a credit crisis similar to what happened after the Lehman Brothers investment bank fell in 2008.

The Dow Jones industrial average fell 11.66 points to 12,708.82. That's a loss of 0.1 percent.

The Nasdaq composite index fell 2.53 points, or 0.1 percent, to 2,784.17.

Stocks are still off to a strong start in 2012. Investors' biggest fears have slowly faded. Stronger than expected job growth in the U.S. and falling borrowing costs for European governments have helped send the S&P 500 index up 4.6 percent for the year.

Maybe the biggest boon to markets this year is the lack of scary headlines, said Jeff Lancaster, a principal at the investment firm Bingham, Osborn & Scarborough.

"When everybody is feeling distressed, anxious and worried as they were at the end of last year, it doesn't take a lot of good news for the mood to change," he said. "It just takes a diminishing quantity of bad news."

Many energy stocks jumped along with prices for natural gas and crude oil. Chesapeake Energy Corp., the No. 2 producer of natural gas in the United States, gained 6 percent after it said it plans to cut production, a response to the recent slump in natural gas prices.

Natural gas futures rose 7.9 percent to $2.60 per 1,000 cubic feet. Gas futures were trading above $4 just six months ago.

Stocks of other gas producers shot higher. Southwestern Energy Co. jumped 10 percent, the biggest gain in the S&P 500. Cabot Oil & Gas Corp. was close behind, rising 6.5 percent.

Apache Corp., a producer of oil and gas, rose 1.6 percent after saying said it plans to buy Cordillera Energy Partners in a $2.85 billion deal. It's the largest merger announced in the U.S. this year.

The price of oil rose 1.3 percent to $99.58 per barrel. The European Union tightened sanctions against Iran by banning the purchase of Iranian oil. Iran threatened to block shipping through the Strait of Hormuz, the passageway for one-sixth of the world's oil exports.

Research In Motion Ltd., maker of the BlackBerry, sank 8.5 percent after its new chief executive said no drastic changes are needed. The company's founders announced they were stepping down as co-CEOs late Sunday.

Source: http://us.rd.yahoo.com/dailynews/rss/stocks/*http%3A//news.yahoo.com/s/ap/20120123/ap_on_bi_st_ma_re/us_wall_street

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Sunday, January 22, 2012

Economics and Investing: - SurvivalBlog.com

Debasement of 5 Pence and 10 Pence coins in England is causing problems: New coins won't work in parking meters and vending machines. (Thanks to G.G. for the link.)

B.B. sent this charming news: Treasury dips into pension funds to avoid debt: "The Treasury on Tuesday started dipping into federal pension funds in order to give the Obama administration more credit to pay government bills."

China Brings US Treasury Holdings To One Year Low, Russia Cuts Treasury Exposure By 50% In One Year. (Thanks to S.M. for the link.)

Craig D. flagged this: World Bank warns on risk of global recession

Items from The Economatrix:

Europe Must Move Quickly After Downgrades--Merkel

S&P Downgrades Eurozone's EFSF Bailout Fund

How to Prepare for the Difficult Years Ahead

Oil Pries Waver On Concerns About Global Demand

Source: http://www.survivalblog.com/2012/01/economics_and_investing_1058.html

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Saturday, January 21, 2012

Florida unemployment falls below 10 percent (AP)

TALLAHASSEE, Fla. ? Florida's unemployment has dropped below 10 percent.

Gov. Rick Scott personally handled the conference call on Friday to boast that Florida's unemployment for December was 9.9 percent.

Florida's jobless rate is still significantly above the national unemployment figure of 8.5 percent and 913,000 eligible workers are still hunting for jobs across the state.

Scott campaigned on creating some 700,000 new jobs over a seven-year period assuming he'd win re-election in 2014. He said his strategy has led to the creation of 140,000 new jobs since he took office in January 2011.

Scott says Florida has added jobs at a faster rate over the past four months than any other state.

Source: http://us.rd.yahoo.com/dailynews/rss/economy/*http%3A//news.yahoo.com/s/ap/20120120/ap_on_bi_ge/us_florida_unemployment_florida

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Friday, January 20, 2012

Body parts scattered near Hollywood sign in LA

A hiker walks her dogs in Griffith Park near the Hollywood sign after a plastic bag containing a human head was discovered Tuesday by two women walking their dogs on a nearby trail off Canyon Drive in Los Angeles, Wednesday, Jan. 18, 2012. Investigators have since discovered a human hand. (AP Photo/Jason Redmond)

A hiker walks her dogs in Griffith Park near the Hollywood sign after a plastic bag containing a human head was discovered Tuesday by two women walking their dogs on a nearby trail off Canyon Drive in Los Angeles, Wednesday, Jan. 18, 2012. Investigators have since discovered a human hand. (AP Photo/Jason Redmond)

Two women hike in Griffith Park near the Hollywood sign after a plastic bag containing a human head was discovered Tuesday by two women walking their dogs on a nearby trail off Canyon Drive in Los Angeles, Wednesday, Jan. 18, 2012. Investigators have since discovered a human hand. (AP Photo/Jason Redmond)

A group of hikers walks their dog in Griffith Park near the Hollywood sign after a plastic bag containing a human head was discovered Tuesday by two women walking their dogs on a nearby trail in Los Angeles, Wednesday, Jan. 18, 2012. Investigators have since discovered a human hand. (AP Photo/Jason Redmond)

Los Angeles Police detectives work a crime scene in Griffith Park off Canyon Drive after a human head was discovered off a nearby trail Tuesday by two women walking their dogs in Los Angeles, Wednesday, Jan. 18, 2012. A human hand has since been discovered. (AP Photo/Los Angeles Times, Al Seib, Pool)

Mounted Los Angeles Police officers search the Bronson Canyon area of Griffith Park after a human head was discovered Tuesday by two people walking their dogs below the Hollywood Sign in Los Angeles, Wednesday, Jan. 18, 2012. Investigators have also two severed hands. (AP Photo/Jason Redmond)

LOS ANGELES (AP) ? An investigation unfolding near the Hollywood sign in Los Angeles is playing out like a gory movie script, as police worked to identity a man whose body was found in parts over the past two days ? first a head on Tuesday, then two hands and two feet on Wednesday.

On Thursday, some 100 police officers and Police Academy recruits searched seven acres of brush in the Bronson Canyon wilderness park in Hollywood to see if they could find more body parts. Officers, some on horseback, pushed through waist- and shoulder-high scrub surrounding a semi-paved hiking trail.

It would have been a perfect place to hide a body had it not been for a single curious dog, police said.

Like a scene from a David Lynch movie, a pooch being walked off-leash on the trail Tuesday afternoon tugged a plastic grocery bag from the brush about 100 yards from the park entrance gates and began playing with it.

"It shakes the bag, and out pops the head," officer Bruce Borihanh said.

A police search the next day uncovered two hands and two feet, all apparently from the same victim.

Investigators checked fingerprints, dental records and missing persons records in an effort to identify the victim, a graying man believed to be 45 to 60 years old.

Police also checked with their counterparts in Tucson, Ariz., where a torso was found a few days ago but it's not believed to be from the same person, Los Angeles police Cmdr. Andrew Smith said.

Whoever dumped the dismembered body parts in Bronson Canyon apparently intended to hide them, he said.

"If they wanted them to be found, they could have left them at the gate," Smith said.

Some parts may have been scattered or eaten by wildlife, police said.

Police did not have a motive for the killing, but there was no evidence that a serial killer was at work, Smith said.

Local residents walking their dogs near the closed park had their own views.

A gang killing or a drug deal that went bad was Mark Hart's suspicion as he walked his two pit bull mixes.

"It sounds like they kind of botched it" because the body was discovered, he added. "They probably thought if they left it there, the coyotes would get it."

The discovery was disconcerting so near a safe and quiet neighborhood, said Renee Dake Wilson, walking her boxer-pit bull mix, Sweet Pea.

"I'm a little worried. It's a concern to have such an event happen in your neighborhood," she said. "But I do think it's an isolated event."

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/3d281c11a96b4ad082fe88aa0db04305/Article_2012-01-19-Human%20Head%20Found/id-2f9a480648c44494897309c64e7e39e1

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Thursday, January 19, 2012

PFT: Belichick says it's hard to fool Reed

Kansas City Chiefs v New York JetsGetty Images

We?ve previously predicted that, once running back LaDainian Tomlinson severs all ties with the Jets, his interview will be more compelling than a Jim Irsay tweet.

But it appears that, instead of one epic sit-down meltdown, L.T. will bleed out the details in a series of engagements and appearances.

Over the weekend, Tomlinson touched on some of the issues during a guest spot on ESPN?s Sunday NFL Countdown.? For the latest episode of Showtime?s Inside the NFL (via Manish Mehta of the New York Daily News), L.T. pulls no punches.

As to the relationship between quarterback Mark Sanchez and receiver Santonio Holmes, Tomlinson said, ?It is as bad as I?ve ever been around, honestly.? You know it was at the point where I think the players could no longer do anything about it.? There was nothing that the players could do.? So when it gets to that point there are certain changes that need to happen.? Can it be fixed? . . .? I think absolutely it can be.? But they?re going to have to make some tough decisions.?

The tough decisions may include whether to keep both men on the same team.

?I would really have to sit down with them and see if they can co-exist,? Tomlinson said.? ?I mean that is a decision that I really have to make.? And if I really feel like they can?t, then you have to make a move. . . .? There are some things that obviously [Holmes] needs to work on as far as being a leader.?

Tomlinson previously criticized Holmes for his behavior during a Week 17 loss to the Dolphins.? ?I?ll tell you what, it?s tough for guys to follow a captain that kind of behaves in that manner,? Tomlinson said at the time.? ?When you?re a captain, guys are looking at you, you?ve got to lead by example. You?ve got to play your tail off until the last play.? And when that don?t happen, you have guys looking at you in a way that captains shouldn?t be looked at.?

The Jets owe Holmes $7.75 million in guaranteed salary for 2012.? If he?s on the roster in March 2012, another $7.5 million in base salary becomes guaranteed in 2013.

Tomlinson thinks the front office shouldn?t be surprised by the situation.? ?They created this,? Tomlinson said.? ?This is the type of football team that they wanted.? Mike Tannenbaum [and] Rex Ryan are both brash, in-your-face type of style, say whatever you want, just get it done on the field.? And then it leads to other things [like] guys are calling each other out and saying I?m not getting the ball or whatever it may be.?

The reference to ?not getting the ball? surely means that Holmes didn?t think he was getting enough looks from Sanchez, a dynamic about which we reported during the season.? Near the end of the season, we reported that the Jets would privately consider alternatives to Sanchez.

So it?s unclear whether Holmes will go or Sanchez will go.? For now, the Jets have said that both men will stay.

Of course, that?s the same thing they said about former offensive coordinator Brian Schottenheimer.

Source: http://profootballtalk.nbcsports.com/2012/01/18/bill-belichick-has-a-man-crush-on-ed-reed/related/

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Wednesday, January 18, 2012

Aging And Life Quality: What Does the Future Hold?

Lucille "Lulu" Weinstein

The first thing one would notice about Lulu is her smile. ?Hello, dear, when is your party?? Lucille ?Lulu? Weinstein beams at me. ?I need to decide what to wear. What are you going to wear to the party? A blue dress or a pink one??

Lulu?s effervescent and undeniably sweet personality easily charms. She?s the kind of lady who wants to have a nice time and look good doing it. The 87 year old who likes to put on lipstick and pull back her hair into a neat twist suffers from Alzheimer?s. It?s a chronic disease marked by bouts of confusion and a rather frightening sense of losing one?s identity.

Alzheimer?s leads Lulu to jump from asking about the weather to discussing a party she?s made up in her head. Lulu, a patient at Carmel Board and Care, California, is lucky. She?s cheerful and gentle, and has been placed by her loving family in a top nursing facility whose employees care for all of her basic needs as well as her emotional ones. She has a constant stream of visitors and is generally happy.

Many Americans, those who cannot afford first-rate private care, are not so lucky.

Americans 65 years or older were numbered at 39.6 million in 2009, making up 12.9 percent of the U.S. population or about one in every eight Americans. That number will increase, according to the U.S. Department of Health and Human Services. It is estimated that about 72.1 million older persons will make up the 65 plus age bracket by 2030. With a rising aging population comes a growing demand for special care facilities. Living longer means that diseases become long-term and chronic, and services are more expensive as people spend more time in facilities. Not everyone will be able to afford private care and will eventually come to rely on social welfare?but can governmental services, city and federal alike, cope with demands?

Unless one has had to navigate tricky geriatrics services for an elderly loved one, they don?t usually consider the ramifications of getting older. Los Angeles, after all, is often perceived as the land of perpetual youth, both by California residents and tourists. The Sunset Strip is filled with aspiring models and actors, some beyond their prime, perfectly coiffed, with sprayed on tans and a disconcerting, overabundance of face-lifts. There is an understandable sense of trepidation people feel about aging, so it?s hardly surprising so many of us try to delay it as long as possible. But there is no way to ignore, however, that the Baby Boomers have begun to collect benefits while taking advantage of already economically strained health and social services.

?There seems to be a sort of fear, if you will, of aging,? said Valentine Villa, a California State Los Angeles Social Work professor and the director of the Applied Gerontology Institute. ?In aggregate we are doing better in terms of health, in terms of socioeconomic status. We?ve been living longer.?

The issues that surround aging are complicated. For example, there are shortcomings as certain demographics have a higher likelihood of age-related problems evident in Los Angeles.

?We see disparities, racial disparities, among African-American women in particular and among African-American and Latino children,? said Karen Lincoln, associate director of the USC Roybal Institute.

The ailments are both genetic and linked to culture or socioeconomic situations, such as food culture and the realities of poverty. They can lead to higher instances of problems ranging from diabetes to obesity?ailments that are more prevalent among ethnic communities in Los Angeles. As people live longer, many more are now becoming old enough to suffer from chronic illnesses like Alzheimer?s.

?Latinos, African Americans, some Asian and Native Americans don?t do as well as non-Hispanic whites,? said Villa.

Beyond demographic concerns exists challenges that health care providers will face as aging populations experience more long-term, debilitating illnesses that will require around-the-clock care.

?A lot of those people who would have died of heart attacks are now [suffering from] Alzheimer?s that they would never have got because they would have died early,? said Kelvin Davies, professor at the USC Davis School of Gerontology and an expert in Alzheimer?s. ?We used to have more coronary care units? that was the shining star of hospitals twenty years ago.?

Davies? research looks at why people age, focusing on Alzheimer?s and other age-related ailments. His latest study published in August in the Journals of Gerontology found that Lon protease, an enzyme, or a substance that increases the rate of a reaction is mobilized less frequently as a cell ages.

When Lon protease isn?t called on as frequently, cells are less protected from oxidative damage, such as peroxides and free radicals, which cause damage to a cell.

Davies and his research team exposed cells to various oxidative stresses, such as ozone, hydrogen peroxide, pesticides and herbicides and other toxins. In experiments, some of which used human lung cells, Lon production increased to fight oxidation. The process can be likened to rusting or food spoiling.

?You find that if you give cells the right opportunity, cells adapt,? said Kelvin Davies, professor at the USC Davis School of Gerontology. ?They adapt by changing their gene expression which means that they start making more of some proteins and less of others.?

Scientists believe Lon protease protects mitochondria, organelles that transform oxygen to energy. With the decrease of Lon production, mitochondria function starts to deteriorate. Older cells don?t have that same ability to adapt to environments that cause damage, however, so they ultimately die.

?What we think is going on is that this is part of a normal, adaptive response that all cells have,? explained Davies.

Davies? research shows that as people age they are less able to cope with stresses ranging from physical, such as chronic illness, to psychological, such as Alzheimer?s.

In Alzheimer?s the process of Lon protease can be compared to soldiers in a war. Oxidants are warded off or endured because of the mobilized Lon. Older cells, however, take longer to produce Lon in experiments.? The longer it takes cells to mobilize Lon, the more a cell has to cope with oxidation which eventually kills it.

?If you disable Lon protease, if you genetically modify [Lon protease] or if you decrease the rate of a cells? production of Lon protease, the cells are particularly sensitive to oxidation stress and typically die,? said Davies.

Davies? findings can help scientists to better understand the aging process and in the future could direct medicine to new diets and drugs that improve the quality of life. Researchers could potentially find treatments that would increase the productivity and function of Lon protease. No current treatment, including much-advertised, over-the-counter supplements that contain enzymes, is capable of increasing Lon productivity, according to Davies.

He is also cautious about exaggerating the research.

?We understand very little about the aging process,? said Davies. Scientists first need to understand better what changes in aging and what contributes to the aging process, and understand that current research is not going to provide an immediate remedy for chronic, age-related diseases.

Davies says current treatments aren?t promising and notes that the future for Alzheimer?s patients looks bleak.

?Unless somebody comes up with something for Alzheimer?s then we?re going to need an awful lot of care facilities because people are just not able to cope in their own homes all the way through the disease,? said Davies.

Health care dollars will go to these new facilities for chronic care where a patient may sometimes spend years. And, for those who rely on programs like Medicaid, care and equipment winds up being an expensive taxpayer burden.

?It?s not their fault, but we need to do something about coping with that,? argued Davies.

Organizations like the Department of Aging are concerned about rising numbers of chronic illnesses, especially in light of the U.S. Census Bureau?s newly released numbers which show a record 46.2 million Americans?1 out of every 6 people?are living in poverty today. ?The only word for it is grim,? said Robert Greenstein, president of the Center on Budget and Policy Priorities, in a September report.

Los Angeles? Department of Aging is particularly focused on ?low income, socially isolated? senior citizens who require more assistance, according to Laura Trejo, general manager of the Los Angeles Department of Aging.

?We are keeping a watchful eye so people are not falling through the cracks,? said Trejo. The organization provides support to senior citizens and disabled individuals that include transportation, especially for disabled citizens, and a daily nutritious meal for senior citizens who are disadvantaged.

As more people find themselves out of work and facing poverty, the City of Los Angeles could see an increase in residents who seek public services of which plenty have been cut due to budget woes. Los Angeles? Department of Recreation and Parks which provides senior citizens with centers has lost two sites, said Carolyn James, principal recreation supervisor. Park services for the elderly keep individuals, especially more independent seniors, engaged. They give seniors a place to gather and hold events?to socialize. In Los Angeles and throughout the state, budget cuts have threatened public programs such as these.

The Department of Aging has fared better, but they, too, ?have been impacted in loss of city resources,? according to Trejo. The organization?s budget is made up of federal and state grant funding from the Older Americans Act, the Older Californians Act, and the Medi-Cal program.

For the first time since WWII, nearly 1 in 5 young adults are at risk for living in poverty. This number is the highest jobless rate for young adults since WWII.

It could also have larger implications as people move back in with their parents or grandparents suddenly find themselves contributing to their children and grandchildren?s households. According to experts these seniors often contribute their social security and pensions to their children and grandchildren.

With city services already stretched to the limit, the private sector sometimes offers a better alternative in terms of quality.

?The private sector has managed to help,? said Phoebe Liebig, associate professor of Gerontology at the USC Davis School of Gerontology. Liebig notes private services, financed and run by businesses or religious groups, which include care facilities and programs for senior citizens.

MCL Medical, a company that supplies several for-profit facilities with adult diapers and nutrition formulas for elderly patients, has had to navigate governmental bureaucracy that pervades the Medi-Cal program.

?Not only does Medi-Cal not pay providers but they do not provide patients with adequate services,? said Ofer Elkayam, president of MCL Medical. ?They use subpar adult diapers, for example, which often lead to bed sores when they aren?t changed frequently enough.?

Elkayam has worked with senior citizens in some capacity for more than two decades.

?You cannot ever forget that you are dealing with people,? he said. ?It could be our parents, it could be us there.?

At Carmel Board and Care Elkayam?s wife, Edva, oversees eight privately run health facilities in the San Fernando Valley, each house boasting three full-time caregivers for every six patients.

?Families of our patients want peace of mind and we give it to them,? said Edva Elkayam. ?Always you let you patients feel that you understand them.?

The nursing facilities under the Carmel umbrella offer a private trainer specialized for the elderly, gourmet-style meals and regular activities designed to keep patients engaged. Unlike most facilities, Carmel doesn?t keep to a visiting hours schedule but instead implements an open-door policy so family members can visit loved ones at any reasonable hour.

Patients like Lulu are happy here and are loved by the staff.

?Did you meet my Lulu?? Florence Ormilla, a house manager for one of Carmel?s homes in Woodland Hills, asked me.

Ormilla is responsible for everything from administering medication to making sure patients, who she likens to her grandparents, aren?t bored.

?I left the Philippines?but found my inner peace and contentment that I?m doing my part,? said Ormilla. ?I am their granddaughter now, I take care of them.?

Health care facilities are filled with many well-intentioned individuals, but many lack these same resources. Whereas Lulu has constant engagement, those individuals living in poorer quality facilities?including some public nursing centers?face poorer care and less one-on-one interaction.

Although it is impossible to know how bad it is, several reports document that at least one in ten patients have reportedly been abused in nursing institutions. Most crimes go undetected, according to the national Center on Elder Abuse.

Mistreatment of elders can range from physical and sexual abuse to psychological harm and abandonment.

In 2008 a five star rating system was adopted by President George W. Bush to help evaluate cost of treatment as well as to bring scrutiny to failing facilities.

But not everyone has saved for retirement or is able to afford best treatment. And many who have paid into individual retirement arrangements have also lost funds with the recent market downturn.

Some experts say current programs, like Social Security and MediCare, will have to play a big part in the solution even though they may need some reform.

?Yes, there will be shortfalls,? said Villa, ?but we can do things to change this.?

Others are less optimistic about the future of social security. When social security was introduced by FDR there were 163 people working for every one person receiving it. By 1950 there were about 15.3 people working for every recipient. Within the next 15 years there will be two people working for every recipient. In 1940, when the average life expectancy was 60 years of age, the retirement age was set at 65. Today the average life expectancy is about 82 and the retirement age is still 65. The current system is not sustainable (But see).

?There?s a larger population that is going to have to rely on social security with fewer people paying into that system,? said Lincoln. ?You?re going to have this huge population of people who are receiving the benefits and fewer people paying into it,? said Lincoln. ?That?s just a recipe for disaster. I?m not sure how we can sustain this system.?

It isn?t just the poor who rely on social security because people from all segments of society collect their benefits?but with a limited pool the funds are not indefinite.

?I?m not sure what we can do for those who are retiring now, but certainly we need to begin to think about how to prepare people for retirement,? explained Lincoln.

One method could combine social security with other types of funds, while at the same time educating people about retirement. Experts agree social security just won?t be enough, especially with more people taking advantage of the program.

Given a choice most people?understandably?prefer to age in their own homes. Eventually, however, the best intentioned of families may need to place a mother, father or grandparent in care. It isn?t an easy decision either emotionally or financially. The care, after all, is costly?in excess of $3,500 a month at the best of facilities. Insurance typically only covers a portion of that. It?s unclear how our society will cope with changing aging demographics, especially in light of current economic turmoil the nation faces. What is clear is that conversations about aging need to take place so that people are aware of the limitations of social security and city services. Reports indicate that Americans save less and spend more?ultimately it will be this that will create a perfect storm as people live even longer and find that they need to rely on flawed, untenable programs.

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Source: http://rss.sciam.com/click.phdo?i=84f3e86b3e3585c94d468675fea57ca1

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Monday, January 16, 2012

Gingrich faces tough questions at black church

Republican presidential candidate former House Speaker Newt Gingrich makes remarks during a campaign event at the Jones Memorial AME Zion Church, Saturday, Jan. 14, 2012, in Columbia, S.C. (AP Photo/Matt Rourke)

Republican presidential candidate former House Speaker Newt Gingrich makes remarks during a campaign event at the Jones Memorial AME Zion Church, Saturday, Jan. 14, 2012, in Columbia, S.C. (AP Photo/Matt Rourke)

Republican presidential candidate former House Speaker Newt Gingrich makes remarks during an event at Jones Memorial AME Zion Church, Saturday, Jan. 14, 2012, in Columbia, S.C. (AP Photo/Matt Rourke)

Republican presidential candidate former House Speaker Newt Gingrich, accompanied by his wife Callista, meets with prisoners during an event at the Jones Memorial AME Zion Church, Saturday, Jan. 14, 2012, in Columbia, S.C. (AP Photo/Matt Rourke)

Audience members listen to Republican presidential candidate former House Speaker Newt Gingrich make remarks during an event at Jones Memorial AME Zion Church, Saturday, Jan. 14, 2012, in Columbia, S.C. (AP Photo/Matt Rourke)

A patron of Tommy's Ham House touches a Greenville, S.C., newspaper sporting front page images of Republican presidential candidates, former Pennsylvania Sen. Rick Santorum and former House Speaker Newt Gingrich, as Santorum campaigns at the restaurant Saturday, Jan. 14, 2012, in Greenville, S.C. (AP Photo/Matt Rourke)

COLUMBIA, S.C. (AP) ? Presidential hopeful Newt Gingrich faced tough questions Saturday about his past statements on race and class, making a rare appearance by a Republican primary candidate before a black church ? an audience unlikely to vote in South Carolina's Jan. 21 contest.

Standing behind the lectern at Jones Memorial A.M.E. Zion Church, Gingrich was peppered with questions about his assertion that poor children lack work ethic and his criticism of President Barack Obama as a "food-stamp president."

Gingrich may get credit for spending nearly an hour in front of a largely unsupportive crowd. But the event is unlikely to help him win many votes in South Carolina's primary, a contest Gingrich himself has said will be make-or-break for his campaign.

Blacks made up just 2 percent of those who voted in South Carolina's 2008 Republican primary, according to exit polls.

While the give and take between Gingrich and more than 50 people in the audience was largely respectful, some in the crowd had sharp questions for the former House Speaker. Many centered on Gingrich's remark last month that poor children as young as nine should work at least part time cleaning their schools in order to learn about work.

Gingrich said his comments were misconstrued.

"What I was saying was, in the poorest neighborhoods, if we can find a way to help young people earn some money, we might actually be able to keep the dropout rate down and give people an incentive to come to school," he said.

The explanation little satisfied some in the crowd, including a woman who said Gingrich's words came across "so negatively, like we're not doing everything for our young people."

Gingrich was also asked if he stood by his assertion that Obama is a "food stamp president", a line the Georgia Republican uses often during stump speeches. He responded with a simple, "Yes."

Gingrich is grasping for campaign life in South Carolina after disappointing fourth place finishes in Iowa and New Hampshire. Success for Gingrich in the South's first primary will depend largely on his ability to draw support from the state's conservative and evangelical voters.

That made Saturday's appearance at a black church all the more head-scratching, particularly because it was Gingrich's only public appearance of the day in South Carolina.

But Gingrich spokesman R.C. Hammond said the appearance was a good use of the candidate's time.

"If you're going to lead America, you have to be willing to lead all of America," he said.

The often-combative Gingrich did try to strike a conciliatory tone at times, promising "a very serious outreach to Democrats" in Washington if he were elected president. And he said the forum was appropriately being held around the holiday honoring Martin Luther King, Jr.

"This would be what he would have liked," Gingrich said of the late civil rights leader.

Following the question and answer session, church members prayed over Gingrich and his wife, Callista. The couple then joined the crowd in the church basement for dinner.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/89ae8247abe8493fae24405546e9a1aa/Article_2012-01-15-Gingrich/id-3be9f90cc14d485694fedf179a31983d

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Sunday, January 15, 2012

Amish buggy drivers jailed again in Kentucky (Reuters)

(Reuters) ? A group of Amish men jailed in Kentucky for refusing to put fluorescent orange safety triangles on their horse-drawn buggies have appealed their convictions, saying the requirement contradicts their religious beliefs, their lawyer said on Friday.

The men, in an appeal to the state Supreme Court, said they should not be required to display the reflective symbol because their beliefs "require them to avoid displays of loud colors," according to a brief filed on their behalf.

Nine of the men, all members of the Old Order Swartzentruber Amish, were jailed in western Kentucky on Thursday for refusing to pay fines after they were convicted of breaking the state law.

The nine remained in custody on Friday, according to William Sharp, the American Civil Liberties Union attorney representing the men in their appeal.

A 10th man, who was convicted and ordered jailed after failing to pay his fines, will report for jail in Graves County, Kentucky, on Monday, Sharp said.

It is the second time in four months that Swartzentruber community members have been jailed in Graves County for refusing to pay fines.

In September, eight other members of the community were briefly jailed, and the ACLU said several other Kentucky counties have summoned Swartzentruber community members into court for driving buggies without the safety triangles.

The men involved in the appeal were cited a total of 13 times in 2007 and 2008 for failing to display a so-called "slow-moving vehicle" emblem on their buggies.

They were subsequently convicted by a lower court that rejected their assertion that the symbols violated their constitutional right to the free exercise of their religious liberty.

The Swartzentrubers broke away from the mainstream Amish community in 1913. Other Amish groups in Kentucky do comply with the requirements to display the safety signs on the rear of their buggies.

The Swartzentrubers said in their appeal that they comply with the spirit, if not the letter, of the law by outfitting the rear of their buggies with 100 inches of silver reflective tape and by putting lanterns on the side of their vehicles at night.

According to AmishAmerica.com, the Swartzentrubers are one of the most conservative Amish groups, eschewing -- among other things -- indoor plumbing, hot water and virtually all technology.

(Reporting by James Kelleher; Editing by Greg McCune)

Source: http://us.rd.yahoo.com/dailynews/rss/crime/*http%3A//news.yahoo.com/s/nm/20120114/us_nm/us_crime_kentucky_amish

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Monday, January 9, 2012

Messi's rise with Barcelona started on a napkin

By PAUL LOGOTHETIS

AP Sports Writer

Associated Press Sports

updated 11:41 a.m. ET Jan. 7, 2012

BARCELONA, Spain (AP) -Lionel Messi's remarkable career with Barcelona began on a napkin.

It happened more than a decade ago, when the 13-year-old Messi, then just a scrawny little kid with plenty of talent, was hoping to earn a contract with Barcelona.

"It's a napkin that myself and many colleagues believe has changed the history of Barcelona," Horacio Gaggioli, who helped broker the deal, told The Associated Press. "If it didn't exist, Leo would have played for another team."

In September 2000, Messi had his first tryout with Barcelona. Undersized but dazzling as always with a football at his feet, the Argentine teen impressed Barcelona club official Carles Rexach.

So when the time came a few months later to make a firm decision, the club's technical secretary and past and future coach scribbled out an informal contract on the closest piece of paper he could find at Barcelona's Pompeia Tennis Club. In it, Rexach reiterates Barcelona's desire to meet the demands of Messi's father, Jorge.

The small napkin reads: "In Barcelona, on the 14th of December of 2000 and in the presence of Josep Minguella and Horacio (Gaggioli), Carles Rexach, F.C.B technical secretary, it commits under his responsibility and despite some views against it to sign the player Lionel Messi, as long as we stick to the amounts agreed upon."

Messi's exploits since turning pro have been amazing.

Still only 24, Messi is on the verge of winning football's top individual prize, the Ballon d'Or, for the third consecutive time. He scored 53 goals last season and has 31 so far this seasons, leaving him only 25 goals short of Cesar Rodriguez's club record.

Nicknamed "The Flea," Messi has also won three Champions League titles, five Spanish leagues, a pair of Club World Cup and European Super Cups, five Spanish Super Cups and one Copa del Rey since his club debut in 2004 - leading to comparisons with Pele, Diego Maradona and Alfredo Di Stefano, the game's greatest players.

"They were different players and so was he. Players like him are very few, which is why we signed him so young - there was something different about him," Rexach said. "The family asked us for a paper to confirm the deal so they could be confident about his signing for Barcelona. I had nothing else to write on, so I used a napkin."

The process to bring Messi to Barcelona started even earlier, however.

Gaggioli had been asked by contacts from Messi's native Rosario to help broker a tryout with Barcelona because the family had decided to leave Newell's Old Boys for the football riches of Europe. Besides searching for a big European club, Jorge Messi was looking for a team that would also agree to pay for Messi's growth hormone treatment.

River Plate had the chance to sign Messi before Barcelona came into the picture, and Gaggioli said he will never forget the day he went to meet the Messis for the first time.

"I met them at the airport and when I saw Leo I thought, 'Where is this kid going to play?"' Gaggioli said. "He was so small and so skinny that the notion of him playing football seemed impossible."

Despite his slight appearance, Messi was mesmerizing on the field. He had been a standout player for Newell's youth teams - scoring handfuls of goals at a time - and wowed Rexach and youth team coach Quimet Rife in his single tryout against older boys.

Still, convincing incoming president Joan Gaspart to commit to signing a 13-year-old nobody when he needed to hire a coach and sign players for a league run was proving difficult. Especially considering Messi's weak physique, with the cost of treatment paramount to any deal after Newell's stopped funding it.

Not only would Barcelona have to pay the cost of Messi's growth hormone treatment, but signing him meant carrying the price of transporting his entire family to Barcelona, where the club would have to find his father work and cover the cost of his lodging.

"A new president doesn't usually have to worry about signing a player who will come good inside 10 years so much as think about signing one, or two or three, who can start playing in the league come September and help win the league," Minguella, who worked with Gaspart during his presidency, told the AP from his stately home in the western hills of Barcelona. "(Luis) Figo, who was the figure for Barca, had just left (to Real Madrid) and now here we appeared talking about a 13-year-old kid. It was a difficult time."

Barcelona, whose philosophy is based on Catalan values and institutions, had never signed such a young talent from abroad before. Those in-house worries were being felt by the Messis, who had returned to Argentina in October convinced a deal was done. But the documentation was not forthcoming.

"The directors couldn't understand why we are out there looking at a 13-year-old kid from Argentina," former Barcelona director general Joan Lacueva, who served under Gaspart's board for three years and worked behind the scenes to ensure Messi's signing, told the AP. "And after two return trips to Argentina and the poor treatment at the hands of the club, (Jorge) was getting anxious.

"But Rexach and Rife were clear about signing him, saying there was no other player in the world like him. There was no doubt, he was a pearl and you didn't need to know football to know that."

Lacueva held off a tense Jorge Messi and did not relent on Gaspart, who eventually caved into the demands of Rexach, whose long trajectory with the club has seen him serve as Johan Cruyff's assistant before taking over himself after the Dutchman's abrupt departure in 1996.

By December, Gaggioli made it clear the club better commit or risk losing the chance to sign Messi. And Rexach was quick to respond that December day at the tennis club.

"He looked all around, trying to find some scrap of something to write on, but there was nothing, so he pulled out one of the napkins," Minguella said.

Assured the deal had been done, Jorge Messi moved his family to the Mediterranean coast. Messi then officially signed with the club in March.

As for the napkin, that historic piece of wax paper remains in the hands of Gaggioli and Minguella. It has been laminated and placed in a safety deposit box inside one of the city's banks not in Barcelona's museum.

"(The museum) is the place it should be. But I've never received a phone call from the club about the napkin," said Gaggioli, who did not dismiss monetary compensation in exchange for the piece of club history. "I never earned a single euro from the club or from Messi. But I don't know if I would want a fee, they'd have to call first."

? 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


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He's back

Thierry Henry has rejoined Arsenal on a two-month loan from the New York Red Bulls after the Premier League club completed insurance agreements with Henry's Major League Soccer team.

Source: http://nbcsports.msnbc.com/id/45908791/ns/sports-soccer/

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Thursday, January 5, 2012

Federal authorities expected to join investigation of fire at Florida abortion clinic

PENSACOLA, Fla. - Federal investigators plan to join the investigation of a suspicious fire at a Florida Panhandle abortion clinic that has been the site of deadly violence in the past, officials said Monday.

The early Sunday fire at American Family Planning in Pensacola largely destroyed the two-story building, said Lt. Kevin Fiedor of the state fire marshal's office. No one was injured.

The fire began in dry vegetation around the outside of the building, which is surrounded by oak trees. The blaze burned underneath the building, up its sides and into its attic, collapsing the second floor ceiling, Fiedor said.

What sparked the blaze remains unknown. The clinic's alarm company alerted authorities to the fire, which had been concealed from view by heavy fog.

"It burned for a prolonged period of time," Fiedor said. "It was a very foggy night and the smoke blended in well with the fog."

Pensacola Fire Department Battalion Chief Steve Peake told the Pensacola News Journal that the clinic was engulfed in flames by the time firefighters arrived just after 1 a.m. Sunday.

The FBI and the Bureau of Alcohol, Tobacco, Firearms and Explosives planned to join state and local investigators Tuesday, Fiedor said.

So far, there are no suspects. "We have not ruled out anything at this time," he said.

The clinic, formerly known as The Ladies Center and as Community Healthcare, was bombed in 1984. In 1994, a doctor and a volunteer who escorted patients were shot to death as they arrived. The gunman, Paul Hill, was executed in 2003.

Fiedor said the clinic had not reported any threats or criminal activity recently. The clinic pays for off-duty Pensacola police officers to provide security.

"In talking with the owner, she said nothing has been said to her in a threatening way in a long period of time," he said.

Source: http://www.startribune.com/nation/136535438.html

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Tuesday, January 3, 2012

Pill Says He Never Signed To Rick Ross' Maybach Music

'I ain't got nothing against none of them, nobody,' rapper tells MTV News of the label.
By Rob Markman


Rick Ross and Pill
Photo: Johnny Nunez/ WireImage

Pill has caused quite the stir. Last week, after the Atlanta rapper took to Twitter to vent about his label situation, speculation began to swirl that P-I-Double L was dropped from the Rick Ross' Maybach Music Warner Bros. distributed-label. But seeing as Pill was never technically signed to MMG, that isn't necessarily the case.

"I never signed any paperwork with Ross. It was just my deal was over at Warner already," Pill revealed to MTV News Tuesday.

According to the "Trap Goin' Ham" MC, he was signed to Asylum/Warner Bros. Records at the end of 2009, a year before Ross brought his MMG label over to Warner Music Group. Pill says he is unaware of any conversations that Warner and Ross ever had concerning his career, but started receiving calls from Rozay around this time last year. The calls turned into collaborations — many of which ended up on Self Made Vol. 1, Ross' MMG label compilation album. It was alluded that Pill was officially a part of Rozay's roster, along with Wale, Meek Mill and a host of other artists, but that wasn't the case, the rapper says.

During his December 28 Twitter rant, Pill, who made a name for himself with independently released singles like "Ok Denn," criticized Warner, charging that they didn't give him the proper push on radio and television. "I bet u can name you favorite artist and the turn on the tv and see the video and hear it on the radio. It's not rocket science," he wrote.

Pill was particularly disappointed that "Pac Man," his single from Self Made Vol.1 didn't get a push, even after noted rappers 2 Chainz, Yo Gotti and Meek Mill were added to the song's remix. "To have all that set in stone, I thought it would've been pushed a little bit harder, went a little bit further, but it didn't," he said.

Maybach did include Pill on a number of label-driven initiatives, he admits. He was on the October 2011 XXL magazine group cover, appeared on "RapFix Live" with MMG in May 2011 and took part in the pre-taped crew cypher during BET's Hip Hop Awards but was noticeably absent when Ross, Wale and Meek Mill performed during the actual ceremony.

"I never really went on tour with them; I never really did anything with them," Pill said. "The only time I performed on tour with them is when it stopped in Atlanta. They still showed love to a n---a when it was time to go to Vegas, or Cali, you know, whatever the label had put together for us to be on as a whole."

Currently the rapper's lawyers are attempting to dissolve the Warner contract, and as for MMG, Pill insists he harbors no ill will and is grateful for the exposure that Ross has given him — even though he doesn't remember the last time he and the Bawse spoke. "I ain't got nothing against none of them, nobody. It's just the situation don't work," Pill said matter-of-factly. "It's cool with us, I don't got nothing against Ross either. It's just I don't talk to him.

"I ain't really got too much to say to somebody that ain't got too much to say to me. I'm not a brownnose, I ain't a punk ass n---a and I'm not finna go trying to chase behind somebody that ain't sayin' nothing to me."

Related Artists

Source: http://www.mtv.com/news/articles/1676688/pill-rick-ross-maybach-music.jhtml

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ASUS Transformer Prime getting a speed boost with latest update

ASUS Transformer Prime

Ye olde inbox this morning is alerting us to an update headed into the ASUS Tranformer Prime. The quad-core tablet, which is still awaiting its promised Ice Cream Sandwich Update, is now at software version 8.8.3.33-20111223. And in addition to some overall increased snappiness, we're hearing that the camera's launching much faster as well. Seeing any other improvements? Let's hear 'em!

More: Transformer Prime forums; thanks to everyone who sent this in!
Also: Read our Transformer Prime Review

 



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Newt Keeps at Mitt (TIME)

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