Tuesday 31 January 2012

Bank of America shuffles investment banking leaders (Reuters)

(Reuters) ? Bank of America Corp (BAC.N) is shaking up the leadership of its investment bank as it looks to find its footing in a difficult market environment.

In the reorganization, Christian Meissner will become head of global corporate investment banking, while two former co-heads of the unit will take on new roles, according to a memo sent to employees on Sunday by co-chief operating officer Tom Montag that was obtained by Reuters.

Meissner will report to Montag, the former Merrill Lynch and Goldman Sachs Group Inc (GS.N) executive who runs global banking and markets operations for Bank of America.

Paul Donofrio will become head of global corporate banking credit and transaction banking with responsibility for global treasury services, loan products and other services. Michael Rubinoff will become chairman of GCIB, where he will be charged with deepening client relationships.

Both executives will also report to Montag.

The new structure comes as the corporate and investment bank adapts "to a changing market environment to more effectively meet the needs of our clients," Montag said in the memo.

Montag joined Bank of America in 2009 when the Charlotte, North Carolina-based bank bought Merrill as it verged on collapse in the financial crisis.

Bank of America spokesman John Yiannacopoulos confirmed the contents of the memo, but declined to comment further.

The reshuffling puts a relative newcomer to Bank of America in charge of capital markets operations that underwrite stock and debt offerings as well as bankers who advise corporations on mergers and other transactions. The bank hired Meissner in April

from Nomura Holdings Inc (NMR.N), the Japanese bank, to head up investment banking for Europe, the Middle East and Africa.

Currently based in London, the former Lehman Brothers veteran will move to New York, Montag said in the memo. Donofrio and Rubinoff are also based in New York.

The moves come after a challenging year for Montag's business, which saw net income fall by more than half to about $3 billion in 2011 from last year as clients pulled back amid uncertainty over the European debt crisis. The unit has been slashing staff amid a decline in revenue and last week investment bankers learned that part of their bonuses would be paid in stock in lieu of cash.

More cuts are also expected in the unit as part of the second phase of an efficiency initiative called Project New BAC. The first phase is set to eliminate 30,000 jobs over the next few years in a bid to trim $5 billion in annual expenses.

Executives are expected to complete planning for the second phase in April. That part of New BAC could eliminate up to $3 billion in expenses. It is expected to eliminate fewer jobs.

(Reporting By Rick Rothacker; Editing by Matt Driskill)

Source: http://us.rd.yahoo.com/dailynews/rss/business/*http%3A//news.yahoo.com/s/nm/20120130/bs_nm/us_bankofamerica_shuffle

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Monday 30 January 2012

TiVo Premiere Elite


The TiVo Premiere Elite ($499.99 list) is the souped-up version of the TiVo Premiere DVR ($299.99, 3.5 stars), with a 300-hour HD video capacity and two more TV tuners for the ability to record four simultaneous programs. Like the TiVo Premiere XL, the Premiere Elite is THX certified and comes with an upgraded remote (but not the slide-out QWERTY model). It?s a definite upgrade for current TiVo users, but is it compelling enough to bring more TiVo users into the fold? The outlook isn't so good, compared to DVRs from cable companies, which continue to improve over time.

Design and Features
The TiVo Premiere Elite looks almost identical to the previous TiVo Premiere, built into the same style chassis as the previous model. There are a few differences from the previous version, though. There are four lights, which glow red to show that each of the four tuners are recording a program. You can record up to four programs simultaneously, which are decoded by the mutli-stream CableCARD the TiVo Premiere Elite now requires. Previous models allowed you to record over the air HDTV broadcasts in addition to digital cable, but the Premiere Elite is a strictly digital cable-only model; TiVo has removed the RF tuner and its connector to make room for the added digital tuners. Over-the-air HDTV viewers will want the regular Premiere or Premiere XL.

If you?ve set up a TiVo HD or previous TiVo Premiere before, you know the drill: Call your cable company to get a multi-stream CableCARD, either wait for the tech to show up or install the CableCARD yourself, and hope it pairs up successfully. Once activated in your TiVo Premiere Elite and once the DVR is hooked up to your home Internet connection, the DVR will download the program guide and take you through the rest of the setup. The TiVo Premiere Elite has an Ethernet port, but you?ll need to buy a TiVo WiFi adapter ($60-$90) if you don?t have a wired connection in your TV room. All the same features are here: TiVo Search; links to Netflix, Blockbuster, Hulu Plus, Pandora, You Tube, and Amazon Instant Video; and the trademark beeps and boops from the TiVo interface. Think of the current group of TiVo DVRs as a mash-up of a cable DVR and the sort of streaming media set top box like the Apple TV ?($99, 4 stars) or the Roku LT ($49, 4 stars).

The TiVo Premiere Elite comes with a 2TB hard drive, which is good for up to 300 hours of HD video, which is an increase from 45 hours for the TiVo Premiere, and 150 hours for the TiVo Premiere XL. Like the TiVo Premiere XL, the Premiere Elite comes with the TiVo Glo remote, not the keyboard-equipped TiVo Slide ($60). The TiVo Slide is a better fit for the DVR junkie who needs to search for programming with the on-screen interface. Truly hardcore TiVo users can download the free TiVo app for their handheld device like an iPad, iPhone, or Android phone: The app replicates the search and remote functions on your handheld, including managing the recorded programs list on your TiVo Premiere Elite. The touch-screen keyboard on your iPhone or Samsung Galaxy S II will be handier than using the on-screen keyboard and TiVo Glo remote on your HDTV. However, you can?t view live TV or the recordings from your TiVo on your iPad/iPhone/Android device. You?ll still need to use a separate place-shifting device for remote viewing over WiFi or 3G.

Competitors From the Cable Company and Elsewhere
The cable companies have caught up to and some cases surpassed TiVo. TiVo?s interface now mostly takes advantage of the extra real estate and resolution of a HDTV screen, though there are still elements in standard definition. The user interface screens on digital cable DVRs like those from Verizon FIOS are fully HD optimized.

More pressing are features like FIOS? DVR apps and Cablevision/Time Warner?s viewing apps on devices like the iPad and Android smartphones. On the FIOS side, the DVR Manager app gives you listings of what?s scheduled and already recorded on your home DVRs, regardless if you?re home or on a 3G network. Need more room to record the next American Idol on your home DVR, but you?re in Des Moines? No problem with FIOS or the other cable companies, just delete those old episodes of Pan Am. In the TiVo app, you have to be physically in range of your home Wi-Fi network to see the recorded list and manage recordings, which means you can only schedule future recordings remotely, not delete existing programs. On the Time Warner and Cablevision side, things are even better when you consider that the TWC app and Optimum app allow you to view live TV as well as on-demand videos on your iPad on your home network. TiVo users need a place-shifting device like a Slingbox to do the same thing, even in your own home. Multi-room viewing was once unique to TiVo, but Cable DVRs now support multi-room viewing, letting you view programs recorded in the living room while you?re in the bedroom.? And with TiVo, there are issues with multi-room viewing and copy-protected content, which could apply to many of the programs you're recording.

Last I checked, most cable companies even let you exchange a broken DVR for free even if the DVR itself is 5 years old. Unfortunately, the TiVo DVR warranty only lasts one year for parts, 90 days for labor, with an option for 2-years parts/labor for $30 and 3 years for $40.? Last, but not least, you?ll still need to subscribe to TiVo, which added to the monthly rental for the CableCARD, equals or surpasses the monthly rental fee for a cable company DVR. TiVo curently charges $19.95 a month, so if you add the $2-5 monthly rate for the CabelCARD, you may pay less in fees on a cable company DVR. Sure, you can purchase a lifetime subscription for $499.99, but that's per TiVo DVR, and is subject to the continued good health of TiVo Inc. If you want Netflix or You Tube on your HDTV as well and your HDTV doesn't already support it, check if there?s a free HDMI port on your TV, then get an Apple TV or Roku; it?s less than $100, and you won?t need to pay a monthly fee to Apple.

The TiVo Premiere Elite is an improved device for an ultimately shrinking market: the hardcore TiVo user. It will give the TiVo fan a lot to crow about while recording 300 hours of HD on four channels simultaneously, but the DVR is unlikely to add brand new customers to the TiVo fold. It's so tied to digital cable that it is unlikely to sway the non-TiVo user from renting a much more convenient and similar HD DVR for much less money. Why buy a TiVo DVR when the cable company DVR is the same amount of money or less, and lets you better manage it with your smartphone or tablet? Five years ago, TiVo had a perceptibly insurmountable lead on the competition. Now that gap is bridgeable by a toddler in brand new shoes.

More Digital Video Recorder reviews:
??? TiVo Premiere Elite
??? TiVo (for iPad)
??? Monsoon Multimedia Vulkano
??? Dish Network ViP922 SlingLoaded DVR
??? TiVo Premiere
?? more

Source: http://feedproxy.google.com/~r/ziffdavis/pcmag/~3/g2xpcMjtWhg/0,2817,2399349,00.asp

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Afghan family guilty in 'honor' killings

A jury on Sunday found an Afghan father, his wife and their son guilty of killing three teenage sisters and a co-wife in what the judge described as "cold-blooded, shameful murders" resulting from a "twisted concept of honor."

The jury took 15 hours to find Mohammad Shafia, 58; his wife Tooba Yahya, 42; and their son Hamed, 21, each guilty of four counts of first-degree murder in a case that shocked and riveted Canadians from coast to coast. First-degree murder carries an automatic life sentence with no chance of parole for 25 years.

After the verdict was read, the three defendants again declared their innocence in the killings of sisters Zainab, 19, Sahar 17, and Geeti, 13, as well as Rona Amir Mohammad, 52, Shafia's childless first wife in a polygamous marriage.

Their bodies were found June 30, 2009, in a car submerged in a canal in Kingston, Ontario, where the family had stopped for the night on their way home to Montreal from Niagara Falls, Ontario.

Prosecutors said the defendants allegedly killed the three teenage sisters because they dishonored the family by defying its disciplinarian rules on dress, dating, socializing and going online. Shafia's first wife was living with him and his second wife. The polygamous relationship, if revealed, could have resulted in their deportation.

The prosecution alleged it was a case of premeditated murder, staged to look like an accident after it was carried out. Prosecutors said the defendants drowned their victims elsewhere on the site, placed their bodies in the car and pushed it into the canal.

Defense lawyers said the deaths were accidental. They said the Nissan car accidentally plunged into the canal after the eldest daughter, Zainab, took it for a joy ride with her sisters and her father's first wife. Hamed said he watched the accident, although he didn't call police from the scene.

After the jury returned the verdicts, Mohammad Shafia, speaking through a translator, said, "We are not criminal, we are not murderer, we didn't commit the murder and this is unjust."

His weeping wife, Tooba, also declared the verdict unjust, saying, "I am not a murderer, and I am a mother, a mother."

Their son, Hamed, speaking in English said, "I did not drown my sisters anywhere."

But Judge Robert Maranger was unmoved, saying the evidence clearly supported their conviction for "the planned and deliberate murder of four members of your family."

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"It is difficult to conceive of a more despicable, more heinous crime ... the apparent reason behind these cold-blooded, shameful murders was that the four completely innocent victims offended your completely twisted concept of honor ... that has absolutely no place in any civilized society."

Outside court, prosecutor Gerard Laarhuis said the verdict is a reflection of Canadian values that he hopes will resonate.

"This verdict sends a very clear message about our Canadian values and the core principles in a free and democratic society that all Canadians enjoy and even visitors to Canada enjoy," Laarhuis said to cheers of approval from onlookers.

The family had left Afghanistan in 1992 and lived in Pakistan, Australia and Dubai before settling in Canada in 2007. Shafia, a wealthy businessman, married Yahya because his first wife could not have children.

The prosecution painted a picture of a household controlled by a domineering Shafia, with Hamed keeping his sisters in line and doling out discipline when his father was away on frequent business trips to Dubai.

The months leading up to the deaths were not happy ones in the Shafia household, according to evidence presented at trial. Zainab, the oldest daughter, was forbidden to attend school for a year because she had a young Pakistani-Canadian boyfriend, and she fled to a shelter, terrified of her father, the court was told.

The prosecution said her parents found condoms in Sahar's room as well as photos of her wearing short skirts and hugging her Christian boyfriend, a relationship she had kept secret. Geeti was becoming almost impossible to control: skipping school, failing classes, being sent home for wearing revealing clothes and stealing, while declaring to authority figures that she wanted to be placed in foster care, according to the prosecution.

Shafia's first wife wrote in a diary that her husband beat her and "made life a torture," while his second wife called her a servant.

The prosecution presented wire taps and cell phone records from the Shafia family in court to support their honor killing theory. The wiretaps, which capture Shafia spewing vitriol about his dead daughters, calling them treacherous and whores and invoking the devil to defecate on their graves, were a focal point of the trial.

"There can be no betrayal, no treachery, no violation more than this," Shafia said on one recording. "Even if they hoist me up onto the gallows ... nothing is more dear to me than my honor."

Defense lawyers argued that at no point in the intercepts do the accused say they drowned the victims.

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

Source: http://www.msnbc.msn.com/id/46183299/ns/world_news-americas/

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Sunday 29 January 2012

Going for the Knockout (talking-points-memo)

Share With Friends: Share on FacebookTweet ThisPost to Google-BuzzSend on GmailPost to Linked-InSubscribe to This Feed | Rss To Twitter | Politics - Top Stories News, News Feeds and News via Feedzilla.

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Boxer Puppy And Cows Make Friends During Walk In Newcastle (VIDEO)

Puppies just born by a sniffer dog sleep at a police dog training base September 16, 2005 in Beijing, China. The dogs are trained by a police squad to learn identifying, catching, tracking and other skills. According to the Ministry of Public Security, there is an estimate of over 10,000 working police dogs in China. These dogs are divided into 30 kinds according to international conventions and are widely used in police work, rescue and military missions. (Photo by China Photos/Getty Images)

Puppies just born by a sniffer dog sleep at a police dog training base September 16, 2005 in Beijing, China. The dogs are trained by a police squad to learn identifying, catching, tracking and other skills. According to the Ministry of Public Security, there is an estimate of over 10,000 working police dogs in China. These dogs are divided into 30 kinds according to international conventions and are widely used in police work, rescue and military missions. (Photo by China Photos/Getty Images)

Source: http://www.huffingtonpost.com/2012/01/28/boxer-puppy-cows-make-friends_n_1210271.html

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Saturday 28 January 2012

Ex-Boston Mayor White, led in turbulent '70s, dies (AP)

BOSTON ? Former Mayor Kevin H. White, who led the city for 16 years including racially turbulent times in the 1970s and was credited with putting it on a path to prosperity, died Friday, a family spokesman said. He was 82.

White, who had been diagnosed with Alzheimer's disease in 2003, died peacefully at his Boston home surrounded by his family, spokesman and friend George Regan said.

"He was a man who built Boston into the world-class city it is today," said Regan, who called his loss "devastating."

White, a white Irish Catholic from a family of politicians, is credited with revitalizing Boston's downtown and seeing the city through court-ordered busing, but he ended his four-term tenure in 1983 under a cloud of ethics suspicions.

White, a Democrat, was elected Massachusetts secretary of state three times before running for mayor for the first time in 1967 against antibusing activist Louise Day Hicks. He defeated her with support from the black community and liberals.

After losing a 1970 bid for governor, White was re-elected mayor in 1971, again defeating Hicks. He won again narrowly in 1975 and 1979.

White was considered as a vice presidential running mate to U.S. Sen. George McGovern of South Dakota in 1972 but was passed over for U.S. Sen. Thomas Eagleton of Missouri, who was later shunted aside for R. Sargent Shriver Jr.

After U.S. District Court Judge W. Arthur Garrity ordered busing to desegregate public schools in 1974, White protected schoolchildren from violence with federal and state assistance during the period of crisis and in 1976 led a march of 30,000 to protest racial violence.

White was never totally comfortable with busing, however, and called Garrity's plan "too severe."

"I wish I knew a way to have taught Garrity or convinced Garrity to be more generous ... or softer in his implementation of that order," White said after his time as mayor.

U.S. Sen. John Kerry of Massachusetts, a fellow Democrat, said White "knew how to wisely wield the power of the mayor's office for the public good."

"For 16 years," Kerry said in a statement, "the mayor shepherded the city through the turbulence of the late '60s and mid-'70s and in the process ushered in the remarkable city we know today."

Current Mayor Thomas Menino, also a Democrat, praised White for his contributions to the city.

"Mayor Kevin White was a great friend and a great leader who left a lasting mark of hope and inspiration on the City of Boston," he said in a statement. "He will be sorely missed."

White's first two terms were known for his Little City Halls in the city's far-flung neighborhoods that gave power to ethnic and racial minorities, but he consolidated his power in his final two terms.

White closed the Little City Halls and instead used a network of ward lieutenants who rewarded the mayor's supporters with city jobs and contracts.

Seven mayoral aides were eventually indicted on fraud and extortion charges. His one-time budget director and an official of the Boston Redevelopment Authority were convicted of fraudulently obtaining city pensions. A deputy commissioner was convicted of tax evasion for failing to report money that prosecutors said he gained from bribes.

White was never implicated. The State Ethics Commission, however, conducted a 10-month investigation that found "reasonable cause" that White had violated conflict-of-interest laws.

The city also wallowed in a financial crisis in the later years of his tenure that led to layoffs of police officers and firefighters and the shutdown of some stations.

The crises were exploited by his critics, who called him King Kevin, and he dropped out of the 1983 mayoral race, eventually won by Raymond Flynn.

"It's no secret that Kevin and I were rivals for many years," Flynn said. "But underneath that sometimes heated rivalry, rooted in different priorities, was a mutual respect. Kevin and I shared a deep love for this complex, fascinating city of Boston."

A liberal reformer, White appealed to a cross-section of society, including the young.

Once, when the Rolling Stones were arrested on the way to Boston, the mayor released them into his own custody.

"The Stones have been busted, but I have sprung them!" he told an audience at Boston Garden.

While the busing crisis brought a stain to the city, White was also credited with revitalizing the city's downtown, especially the shops and restaurants of Quincy Market, which remains one of the city's top tourist attractions. He thought the downtown renaissance would make Boston a "world-class city."

A statue of White was unveiled near Quincy Market in 2006.

Gov. Deval Patrick, a Democrat, said White's stewardship created "a path to prosperity for the city."

White's father and maternal grandfather had been Boston City Council presidents. In 1956, he married Kathryn Galvin, the daughter of another City Council president. He was educated at Tabor Academy, Williams College, Boston College Law School and the Harvard Graduate School of Public Administration.

After handing over the office to Flynn in 1984, White accepted a position at Boston University as a professor of communications and public management.

While mayor in 1970, White had major surgery to remove two-thirds of his stomach. He suffered a heart attack in 2001 while at a Florida restaurant and spent several days in a hospital when he had a pacemaker implanted.

He is survived by his wife of 55 years, Kathyrn Galvin White, five children and several grandchildren.

___

Associated Press Writer Sylvia Wingfield contributed to this report.

Source: http://us.rd.yahoo.com/dailynews/rss/us/*http%3A//news.yahoo.com/s/ap/20120128/ap_on_re_us/us_obit_kevin_white

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Paterno's long goodbye ends with public memorial (Reuters)

STATE COLLEGE, Pa (Reuters) ? The son of late Penn State football coach Joe Paterno told 10,000 mourners on Thursday his father died "with a clear conscience," and former players shared why they worshipped the man in a final goodbye to the legendary "JoePa."

The memorial at the campus basketball arena concluded five days of public mourning for Paterno, 85, who died on Sunday of lung cancer two months after his towering reputation was shaken by a child sexual abuse scandal involving an assistant coach.

The hero's sendoff after Paterno's death contrasted sharply with the sudden and unceremonious end of his career in November, when the university's board of trustees fired him following revelations about defensive coordinator Jerry Sandusky, accused of molesting at least 10 boys over 15 years.

Paterno won a major college record 409 games and two national championships in his 46 years as head coach, creating a football powerhouse that generated $53 million in profit in 2010, according to Forbes magazine.

Son Jay Paterno shared deathbed moments the crowd, saying, "Joe Paterno left this world with a clear conscience."

Shortly before his father died, Jay Paterno said he bent over and whispered into his father's ear, "Dad you won. You did all you could do. We all love you. You can go home."

Interest in "A Memorial to Joe" built for days. The 10,000 free tickets were snapped up within seven minutes earlier this week. At least one ticket holder tried to profit by selling a ticket for $66,000 on Ebay, but the online site immediately banned the sale.

The week of mourning has drawn back to campus stars from past football teams, members of the 2011 squad, Penn State alumni who have no memory of any other football coach, undergraduates and townspeople to remember the winningest coach in major college football history.

"No one individual did more for a university than what Joe Paterno did for this school," said Todd Blackledge, a quarterback in the 1980s who played for seven years in the NFL.

"He was as fierce a competitor as anyone I have ever seen," Blackledge said. "Coach Paterno was at his best under pressure. He taught us how to compete."

Charlie Pittman, a runningback from the 1960s, praised Paterno for building a long-lasting institution that prided itself on the motto "Success with Honor."

"Though his body eventually failed, his spirit never did. Rest in peace, coach. We'll take it from here," he said to a standing ovation.

Paterno came under fire in November when it was revealed he was told by a purported witness that Sandusky molested a 10-year-old boy in the Penn State football showers in 2002. Paterno informed university officials but not police.

Sandusky, 67, faces 52 criminal counts accusing him of molesting 10 boys over 15 years, using his position as head of The Second Mile, a charity dedicated to helping troubled children, to find his victims. The court has placed Sandusky, who maintains his innocence, under house arrest.

(Editing by Barbara Goldberg and Daniel Trotta)

Source: http://us.rd.yahoo.com/dailynews/rss/us/*http%3A//news.yahoo.com/s/nm/20120127/us_nm/us_usa_paterno

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Friday 27 January 2012

Unemployment rates decreasing in most Ky. counties (AP)

FRANKFORT, Ky. ? Most Kentucky counties are reporting a decrease in unemployment.

The Kentucky Office of Employment and Training says 114 counties reported that jobless rates fell from December 2010 to December 2011. Six counties reported an increase in unemployment during the same time period.

Woodford County had the lowest unemployment rate at 6.1 percent, followed by Fayette County at 6.5 percent and Boone County at 6.9 percent.

Jackson County had the highest jobless rate at 15.2 percent, followed by Fulton County at 14.9 percent at Magoffin County at 14.4 percent.

The statistics are based on estimates and don't include people who haven't looked for a job in the last four weeks.

Source: http://us.rd.yahoo.com/dailynews/rss/business/*http%3A//news.yahoo.com/s/ap/20120126/ap_on_bi_ge/us_jobless_rates_kentucky

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Arduino hack gives a second screen to Android phones, isn't very useful (video)

Who knows why tech tinkerers do what they do. We're just happy to see those idle hands try the untested. Like this latest Arduino hack from modder Michael of Nootropic Design, who's seen fit to rig a 16 x 32 LED matrix up to an Android phone for use as a secondary display. The outputted video, downscaled via OpenCV software to an appropriate resolution and 12-bit color, is admittedly unimpressive, as it chugs along at a paltry four frames per second. But that's not the point of this can-do experiment -- it's all about the possibilities, however blurry and pointless they may be (although, we're sure Barbara Walters would beg to differ). Ready to see this modjob in motion? Then head on past the break for a brief video demo.

Continue reading Arduino hack gives a second screen to Android phones, isn't very useful (video)

Arduino hack gives a second screen to Android phones, isn't very useful (video) originally appeared on Engadget on Wed, 25 Jan 2012 09:28:00 EDT. Please see our terms for use of feeds.

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Source: http://www.engadget.com/2012/01/25/arduino-hack-gives-a-second-screen-to-android-phones-isnt-very/

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Thursday 26 January 2012

Actor James Farentino dies of heart failure at 73 (AP)

LOS ANGELES ? Actor James Farentino, who appeared in dozens of movies and television shows, died Tuesday in a Los Angeles hospital, according to a family spokesman. He was 73.

Farentino died of heart failure at Cedars-Sinai Hospital after a long illness, said the spokesman, Bob Palmer.

Farentino starred alongside Kirk Douglas and Martin Sheen in the 1980 science fiction film "The Final Countdown." The movie featured a modern aircraft carrier that travels back in time to Pearl Harbor hours before the Japanese attack.

Farentino also starred opposite Patty Duke in 1969's "Me, Natalie."

In 1967, he won a "Most Promising Newcomer" Golden Globe for his performance in the comedy "The Pad and How to Use It."

He also had recurring roles on "Dynasty," "Melrose Place," "The Bold Ones: The Lawyers" and "ER," playing the estranged father to George Clooney's character.

In 1978, he was nominated for an Emmy for his portrayal of Saint Peter in the television mini-series "Jesus of Nazareth."

A four-time divorcee, Farentino's tumultuous personal life made headlines, too.

In March 1994, he pleaded no contest to stalking his ex-girlfriend Tina Sinatra, daughter of Frank Sinatra.

In 2010, the actor was arrested at his Hollywood home on suspicion of battery when he tried to physically remove a man from his home.

Born in Brooklyn, N.Y., in 1938, Farentino is survived by two sons, David and Saverio.

Source: http://us.rd.yahoo.com/dailynews/rss/entertainment/*http%3A//news.yahoo.com/s/ap/20120125/ap_en_ot/us_obit_farentino

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AP IMPACT: Delhi ignores own quake peril warnings

(AP) ? The ramshackle neighborhoods of northeast Delhi are home to 2.2 million people packed along narrow alleys. Buildings are made from a single layer of brick. Extra floors are added to dilapidated buildings not meant to handle their weight. Tangles of electrical cables hang precariously everywhere.

If a major earthquake struck India's seismically vulnerable capital, these neighborhoods ? India's most crowded ? would collapse in an apocalyptic nightmare. Waters from the nearby Yamuna River would turn the water-soaked subsoil to jelly, which would intensify the shaking.

The Indian government knows this and has done almost nothing about it.

An Associated Press examination of government documents spanning five decades reveals a pattern of warnings and recommendations that have been widely disregarded. Successive governments made plans and promises to prepare for a major earthquake in the city of 16.7 million, only to abandon them each time.

The Delhi government's own estimates say nine out of every 10 buildings in the city are at risk of moderate or significant quake damage, yet the basic disaster response plan it had promised to complete nearly three years ago remains unfinished, there are nearly no earthquake awareness drills in schools and offices and tens of thousands of housing units are built every year without any earthquake safety checks.

Fearing many buildings could lie in ruins after a quake, the Delhi government began work in 2005 with U.S. government assistance to reinforce just five buildings ? including a school and a hospital ? it would need to begin a rudimentary relief operation to deal with the dead, wounded and homeless. Six years later, only one of those buildings is earthquake-ready.

"At the end of the day, people at the helm of affairs are not doing anything," said Anup Karanth, an earthquake engineering expert.

In its attitudes to disaster preparedness India is like many other poor nations ? aware of the danger but bogged down by both sheer inertia and more immediate demands on its resources.

But Delhi faces immense earthquake risks. Last September, two minor jolts sent thousands of scared residents into the streets, and experts say a big one looms on the horizon.

As far back as 1960, after a moderate quake cut power and plunged Delhi ? then a city of 2.7 million ? into darkness, the Geological Survey of India advised that all large buildings in the capital needed to have a plan for earthquake safety.

A series of reports by other agencies have expanded on that conclusion in recent years, but both the city and national governments have ignored almost all of the recommendations.

Some reports were ignored because of sheer apathy, others because of shifting priorities. In a city and country growing at lightning speed with huge problems of poverty and hunger that need more immediate solutions, earthquake preparedness has simply never been at the top of the list. Some plans begun with good intentions simply fell by the wayside.

That's what happened to the 2005 plan to prepare five important buildings in the capital for an earthquake.

Government engineers were sent to California to train. But the following year ? with only the school made earthquake ready ? all the engineers were taken off the project. They were reassigned to build stadiums for the 2010 Commonwealth Games, an athletic competition held in Delhi, said M. Shashidhar Reddy, the vice chairman of India's National Disaster Management Agency.

The scale of the problem "really hasn't sunk into the minds of the people," Reddy said.

Just last year, a Delhi government agency ordered all new home buyers to get a building safety certificate that would mark their homes as structurally sound before registering property. But it later withdrew the order, saying there weren't enough engineers trained to conduct such inspections.

"That's like saying let's not have any traffic rules because we don't have enough policemen," said Hari Kumar, who heads Geohazards India, an organization that promotes earthquake awareness.

India, a still developing country plagued by corruption, isn't alone in being unprepared. More than 80 percent of deaths from building collapses in earthquakes in the last three decades occurred in corrupt and poor countries, according to a 2011 study published in the science journal Nature.

The study by Roger Bilham, a geologist at the University of Colorado, Boulder, and Nicholas Ambraseys, a civil and environmental engineer at Imperial College London, compared the loss of life in two magnitude 7.0 earthquakes in 2010. In Haiti, 300,000 died; in New Zealand none did, though a subsequent 6.1 quake there in early 2011 killed 182.

New Zealand, a developed nation, tied for first as the least corrupt in Transparency International's most recent Corruption Perceptions Index. Much poorer Haiti came in 175th out of 178 countries.

In Turkey, which ranked 61st, a 2010 report revealed that the earthquake-prone nation had failed to enforce stricter building codes put in place after a 1999 earthquake killed 18,000 people. Last year, two earthquakes of magnitude 7.2 and 5.7 flattened some 2,000 buildings, killed 644 people and left thousands homeless.

In contrast, Japan, which was 14th on the corruption scale, requires that all structures meet a 1981 building code and offers subsidies to retrofit buildings to meet more stringent guidelines set in 1995. About 75 percent of homes and public buildings meet the newer standards.

In India, which ranked 95th, contractors routinely flout regulations, use substandard material and add illegal floors to buildings, while bribing government inspectors to look the other way, said Reddy, the disaster management official. A 2001 quake in the western state of Gujarat killed more than 13,000.

Delhi, which sits near a highly seismically active area, is ranked four out of five on a seismic threat scale used in India.

Geologists believe the Central Himalayan Gap, a 310-mile (500 kilometer) stretch between Nepal and India, is ripe for a major quake. A 6.8 quake along the fault in March 1999 damaged many buildings in Delhi, just 125 to 300 miles (200 to 500 kilometers) from the gap.

Studies show such a large buildup of energy that a shifting of the tectonic plates could cause an 8.7-magnitude earthquake, Bilham said.

Experts also fear the potential damage from a smaller quake closer to the capital. The city lies between two fault lines, and a 4.2 quake in September woke up residents, with many fleeing their buildings. The same month, a magnitude 6.8 quake in India's remote northeast was also felt in the capital.

Either type of quake would cause moderate damage to an estimated 85.5 percent of Delhi's buildings and severe damage to another 6.5 percent, Delhi's disaster management authority said in a 2010 vulnerability assessment. It could also open cracks in the ground several centimeters wide and spread "fear and panic," the report said.

It was India's Department of Meteorology that found northeast Delhi particularly vulnerable in a never-released 2005 study obtained by the AP. That "microzone" study divided the city into nine segments to evaluate the possible impact of an earthquake in each.

While the microzone study is a positive step, the report is only rudimentary and most builders haven't even heard of it, said earthquake engineering expert Karanth, who as a student lived through the Gujarat quake.

India has developed national standards for constructing earthquake-resistant buildings, but they are not mandatory and widely ignored, said Kumar of Geohazards.

Meanwhile, many residents don't realize the danger, or wrongly believe they are safe from it.

When Karanth decided to buy an apartment in 2010, he picked a builder who promised to deliver an earthquake-resistant building. He visited the site often, took photographs of the construction and talked to the engineers in charge.

Last year, he realized the project had none of the promised earthquake safety features. "This is not one or two apartments that I'm talking about. These are thousands of apartment units being constructed," he said.

He complained and demanded an explanation.

Instead, the construction company offered to give him back his deposit.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/cae69a7523db45408eeb2b3a98c0c9c5/Article_2012-01-25-AS-India-Quake-Nightmare/id-c7d3a46653b84b23a44e32d143b83d04

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Wednesday 25 January 2012

Obama?s message: I?m back (Washington Post)

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Source: http://news.feedzilla.com/en_us/stories/politics/top-stories/191284885?client_source=feed&format=rss

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Poland reviews stance on treaty after web attacks (AP)

WARSAW, Poland ? Poland's government went into defense mode on Monday after a network of online activists paralyzed government websites in opposition to Warsaw's plans to sign an international copyright treaty.

Poland had originally planned to sign the Anti-Counterfeiting Trade Agreement, or ACTA, in Tokyo on Thursday. ACTA is a far-reaching international agreement that would fight copyright infringement and online piracy. Critics fear it could lead to censorship on the Internet.

A Twitter account using the name "AnonymousWiki" announced plans to attack government websites to protest the government's support for ACTA.

Within hours on Sunday, the websites of the prime minister, parliament and other government offices were unreachable or sluggish, the hallmarks of a denial of service attack. The technique works by directing streams of bogus traffic at a website, jamming it in the same way that a telephone line can be overwhelmed by hundreds of prank calls.

In an initial response, government spokesman Pawel Gras on Sunday suggested there hadn't been an attack at all on the sites. "This isn't an attack by hackers, but just the result of huge interest in the sites of the prime minister and parliament," he said, a comment that quickly became a source of ridicule on Facebook and other Internet sites.

By Monday, with the sites still paralyzed, the prime minister and other leaders were holding a meeting to reconsider their stance on the treaty.

"It was a velvet attack by hackers, but still it was an attack. Pawel Gras was wrong," said Slawomir Neumann, a lawmaker with the government Civic Platform party. Neumann said the situation showed that the Polish government is poorly prepared to handle such attacks.

And Michal Boni, the minister for administration and digitization, acknowledged in a radio interview Monday that the government had failed to hold enough consultations with the public on the matter.

An opposition party, the Democratic Left Alliance, also called on the government to not sign in it in a gesture of solidarity with those who warn it could hurt Internet freedom.

Anonymous, the group suspected of involvement in the attacks, made a number of threats before and during the Internet disruptions.

"Dear Polish government, we will continue to disrupt and interfere with your government official websites until the 26th. Do not pass ACTA," one tweet by AnonymousWiki said.

It also threatened more trouble should Poland sign ACTA.

"We have dox files and leaked documentations on many Poland officials, if ACTA is passed, we will release these documents," AnonymousWiki said in a separate tweet.

Source: http://us.rd.yahoo.com/dailynews/rss/internet/*http%3A//news.yahoo.com/s/ap/20120123/ap_on_hi_te/eu_poland_websites_attacked

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Tuesday 24 January 2012

U.S. aircraft carrier enters Gulf without incident (Reuters)

WASHINGTON (Reuters) ? A U.S. aircraft carrier sailed through the Strait of Hormuz and into the Gulf without incident on Sunday, a day after Iran backed away from an earlier threat to take action if an American carrier returned to the strategic waterway.

The carrier USS Abraham Lincoln completed a "regular and routine" passage through the strait, a critical gateway for the region's oil exports, "as previously scheduled and without incident," said Lieutenant Rebecca Rebarich, a spokeswoman for the U.S. Fifth Fleet.

The Lincoln, accompanied by strike group of warships, was the first U.S. aircraft carrier to enter the Gulf since late December and was on a routine rotation to replace the outgoing USS John C. Stennis.

The departure of the Stennis prompted Iranian army chief Ataollah Salehi to threaten action if the carrier passed back into the Gulf.

"I recommend and emphasize to the American carrier not to return to the Persian Gulf. ... We are not in the habit of warning more than once," he said.

The threat led to a round of escalating rhetoric between the two sides that spooked oil markets and raised the specter of a military confrontation between Iran and the United States.

Iran threatened to close the strait, the world's most important oil shipping gateway, while the United States warned such a move would require a response by Washington, which routinely patrols international sea lanes to ensure they remain open.

Iran appeared to ease away from its earlier warnings on Saturday, with Revolutionary Guard Corps Deputy Commander Hossein Salami telling the official IRNA news agency that the return of U.S. warships to the Gulf was routine and not an increase in its permanent presence in the region.

"U.S. warships and military forces have been in the Persian Gulf and the Middle East region for many years and their decision in relation to the dispatch of a new warship is not a new issue and it should be interpreted as part of their permanent presence," Salami said.

Pentagon officials declined to comment directly on Salami's remarks, but reiterated that continued U.S. presence in the region reflected the seriousness with which Washington takes its security commitments to partner nations in the region and to ensuring free flow of international commerce.

The Lincoln's arrival in the Gulf was unrelated to Iran's statement on Saturday.

Tensions between Iran and the United States have been escalating in recent weeks as President Barack Obama prepares to implement new U.S. sanctions against Iran over its nuclear enrichment program, which Tehran says is for energy production but the West believes is aimed at producing atomic weapons.

The EU is preparing to intensify sanctions against Tehran with an embargo on Iran's oil exports and possibly freezing the assets of Iran's central bank. Obama is preparing new U.S. sanctions that target foreign financial institutions that do business with Iran's central bank.

Both sides tried to scale down the rhetoric last week. The White House emphasized the United States was still open to international talks on Iran's nuclear program, even as it denied Iranian assertions that discussions were under way about resuming a dialogue.

The White House would not confirm or deny Iranian reports that Obama had sent a letter to Iranian leaders, but spokesman Jay Carney said any communications with Tehran would have reinforced the statements Washington has made publicly.

The United States supports talks between Iran and the so-called P5 + 1, the five permanent members of the U.N. Security Council - Russia, China, France, England and the United States - plus Germany.

Carney urged Iran to respond to the letter sent in October on behalf of the P5 +1 by European Union foreign policy chief Catherine Ashton.

"If the Iranians are serious about restarting talks, then they need to respond to that letter," Carney told a White House briefing. "That is the channel by which ... the restarting of those talks would take place."

(Reporting By David Alexander; Editing by Peter Cooney and Stacey Joyce)

Source: http://us.rd.yahoo.com/dailynews/rss/iran/*http%3A//news.yahoo.com/s/nm/20120122/wl_nm/us_iran_usa_carrier

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Monday 23 January 2012

Suddenly 'neck and neck' ? Romney, Gingrich in SC (AP)

CHARLESTON, S.C. ? On the eve of a Southern showdown, Mitt Romney conceded Friday he's in a tight race with Newt Gingrich for Saturday's South Carolina primary in a Republican campaign suddenly turned turbulent.

It's "neck and neck," Romney declared, then said later in the day he expects he will win some states while Gingrich takes others in the primaries and caucuses ahead.

Former Sen. Rick Santorum, swiped at both men in hopes of springing a South Carolina surprise.

But several days after forecasting a Romney victory in his state, Sen. Jim DeMint said the campaign's first Southern primary was now a two-man race between the former Massachusetts governor, who has struggled in recent days with questions about his personal wealth and taxes, and Gingrich, the former House speaker who has been surging in polls after a pair of well-received debate performances.

The stakes were high as Republicans sought a challenger to Democratic President Barack Obama. Television advertising by the candidates and their supporters exceeded $10 million here, much of it spent in the past two weeks, and mailboxes were stuffed with campaign flyers.

In a bit of home-state boosterism, DeMint said the primary winner was "likely to be the next president of the United States."

Indeed, the winner of the state's primary has gone on to capture the Republican nomination each year since 1980.

A victory by Romney would place him in a commanding position heading into the Florida primary on Jan. 31. He and an organization supporting him are already airing television ads in that state, which is one of the country's costliest in which to campaign.

If the former Massachusetts governor stumbles in South Carolina ? as senior aides conceded he might ? it could portend a long, drawn-out battle for the nomination stretching well into spring and further expose rifts inside the party between those who want a candidate who can defeat Obama more than anything else, and those whose strong preference is for a solid conservative.

Romney sounded anything but confident as he told reporters that in South Carolina, "I realize that I had a lot of ground to make up and Speaker Gingrich is from a neighboring state, well known, popular ... and frankly to be in a neck-and-neck race at this last moment is kind of exciting."

Left unspoken was that he swept into South Carolina 10 days ago on the strength of a strong victory in the New Hampshire primary and maintained a double-digit lead in the South Carolina polls for much of the week.

Campaigning in Gilbert, S.C., on Friday, Romney demanded that Gingrich release hundreds of supporting documents relating to an ethics committee investigation into his activities while he was speaker of the House in the mid-1990s.

""Of course he should," he told reporters. Referring to the House Democratic leader, he said, "Nancy Pelosi has the full record of that ethics investigation. You know it's going to get out ahead of the general election."

That was an attempt to turn the tables on Gingrich, who has demanded Romney release his income tax returns before the weekend primary so Republicans can know in advance if they contain anything that could compromise the party's chances against Obama this fall.

Gingrich's campaign brushed off Romney's demand, calling it a "panic attack" brought on by sinking poll numbers.

"Don't you love these guys?" the former speaker said in Orangeburg. "He doesn't release anything. He doesn't answer anything and he's even confused about whether he will ever release anything. And then they decide to pick a fight over releasing stuff?"

In January 1997, Gingrich became the first speaker ever reprimanded and fined for ethics violations, slapped with a $300,000 penalty. He said he'd failed to follow legal advice concerning the use of tax-exempt contributions to advance potentially partisan goals, but he was also cleared of numerous other allegations.

At the same time he fended off a demand on one front Friday, Gingrich was less than eager to face further questions made by his second wife, Marianne, who said in an ABC interview broadcast Thursday night that he had once sought an open marriage so he could keep the mistress who later became his current wife.

He denies the ex-wife's account.

On his final lap through the state, Santorum campaigned as the Goldilocks candidate ? just right for the state's conservative voters.

"One candidate is too radioactive, a little too hot," he said, referring to Gingrich. "And we have another candidate who is just too darn cold, who doesn't have bold plans," he added, speaking of Romney.

His campaign also announced endorsements from conservative leaders in the upcounty portion of the state around Greenville, where the heaviest concentration of evangelical voters lives.

Santorum, a former Pennsylvania senator, dismissed Texas Rep. Ron Paul, the fourth contender in the race. "There are four, three of whom have a chance to win the nomination," he said, including himself.

Paul, who finished third in the Iowa caucuses and second in the New Hampshire primary, has had a limited presence in South Carolina.

But he flew to six cities on a burst of campaigning on the race's final day, and drew applause for having returned to Washington, D.C., earlier in the week to vote against Obama's requested increase in the debt limit.

"When you hear the word principle, you think of Ron Paul. He's the embodiment of that," said Derek Smith, a 26-year-old engineer for the Navy in Charleston. "If he were to run as a third-party candidate, I would vote for him unconditionally."

Paul has said he has no intention of doing that.

Interviewed on C-SPAN, Santorum said the race "has just transformed itself in the last 24 hours." It was hard for any of the campaigns to argue with that.

In a bewildering series of events on Thursday, Romney was stripped of his victory in the Jan. 3 Iowa caucuses by state party officials, who said a recount showed Santorum ahead by 34 votes.

Then came an unexpected withdrawal by Texas Gov. Rick Perry, who endorsed Gingrich. But Gingrich was suddenly caught in a controversy caused by his ex-wife's accusations.

At a two-hour debate that capped the day, Gingrich drew applause when he strongly attacked ABC and the "liberal news media" in general for injecting the issue into the final days of the South Carolina campaign.

By contrast, Romney faced a round of boos from the audience when he stuck by earlier statements that he would wait until April to release his tax returns.

Romney has stumbled several times in recent days, including once when he said he paid an effective tax rate of about 15 percent. That's half what many middle-income Americans pay, but it's what the law stipulates because his income derives from investments, which are taxed at a lower rate than wages.

Gingrich posted his own tax returns online during the Thursday debate, reporting he paid 31.5 percent of his income to the IRS.

___

Associated Press writers Charles Babington, Kasie Hunt, Thomas Beaumont, Philip Elliott, Beth Fouhy and Shannon McCaffrey contributed to this report.

Source: http://us.rd.yahoo.com/dailynews/rss/politics/*http%3A//news.yahoo.com/s/ap/20120121/ap_on_el_pr/us_gop_campaign

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Sunday 22 January 2012

5 Firefox Add-Ons for Increasing Productivity (Mashable)

This post originally appeared on the American Express OPEN Forum, where Mashable regularly contributes articles about leveraging social media and technology in small business. The Internet is a black hole of procrastination. It's a rare occasion when we open up our web browsers and just do work without checking Facebook or getting sucked into YouTube.

[More from Mashable: How To Close The Books on Your Startup]

Not only is it possible to get work done, but your web browser can actually help you be more productive. If you use Mozilla's Firefox, you're in even more luck since we've compiled this list of five Firefox add-ons to boost your work flow efficiency.

Take a look and let us know which add-ons you use to stay productive.

[More from Mashable: Why 2012 Is the Year of Mobile Advertising]



If you use Firefox, you've learned to love tabs, but it's far too easy to get over-zealous and end up with an unrecognizable clutter up there. Tab Mix Plus will help you wrangle your tabs including sorting options, the ability to undo closed tabs and it even come with a session manager to help you multitask like a pro. Besides, more than one million users can't be wrong.



Print Edit is one heck of a hack if you know how to use it. The main purpose of the add-on is to help you format any webpage for printing. From the edit mode, you can add and remove elements from a page -- like, say, banner ads or search bars -- for a cleaner printed page. The add-on, however, can also give you detailed information on the make up of a website. "Inspecting" individual elements will bring up their properties in CSS. For example, did you know that the width on the "I'm Feeling Lucky" button on Google is 102px wide, in bold font with a background color of #f8f8f8?

It's a fun and quick hack for discovering how elements on a site are created.



Keep forgetting birthdays? Meetings? What you need to do next Thursday? ReminderFox is a simply add-on that acts like a digital to-do list and calendar permanently attached to your browser. It's not a revolutionary idea, but it's one that could save you from missing that important business appointment.


4. The Power Shopper: PriceBlink


If you've shopped online for anything recently, you know that prices can vary drastically between websites. An espresso machine on Amazon could be $50 cheaper on eBay. PriceBlink aims to streamline your comparison shopping by automatically searching for the same product across dozens of sites and alerting you when it's available somewhere else for cheaper. The add-on also has alerts for coupons and deals on any website you visit to help you get the most bang for your buck whether you need to buy a last-minute gift or supplies for your office.


5. The Socializer: Twitter, LinkedIn, YouTube, chat services and more with a discrete little vertical and/or horizontal bar. The add-on will scroll updates from your connected networks and allows you to publish and post text, image and video at the same time.

Image courtesy of Flickr, Jacob Davies

This story originally published on Mashable here.

Source: http://us.rd.yahoo.com/dailynews/rss/tech/*http%3A//news.yahoo.com/s/mashable/20120121/tc_mashable/5_firefox_addons_for_increasing_productivity

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Saturday 21 January 2012

Hooligans invade hospital looking for revenge

updated 4:12 p.m. ET Jan. 19, 2012

BUENOS AIRES, Argentina - A doctor says a dozen soccer hooligans invaded the delivery room of a Buenos Aires hospital, hoping to avenge the death of a gang member killed in a fight with a rival faction.

Marcelo Struminger, president of the doctor's association at Santojanni Hospital, said Thursday gang members associated with the Argentina club Nueva Chicago raced through the delivery room and other parts of the hospital on Wednesday. They were looking for a rival hooligan known as "Aldo The Paraguayan."

He is believed to have been involved in the death Wednesday of Agustin Rodriguez, who was killed in a fight between his faction, "Los Perales," and the rival faction "Las Antenas."

Soccer violence has plagued Argentina for years.

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


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??David Beckham considered other offers but decided nothing was better than his adopted home with the L.A. Galaxy.

Source: http://nbcsports.msnbc.com/id/46061311/ns/sports-soccer/

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Gingrich angrily rejects marital question at raucous debate (reuters)

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Friday 20 January 2012

Qatar Duty Free celebrates Chinese New Year

[unable to retrieve full-text content]

Source: www.breakingtravelnews.com --- Wednesday, January 18, 2012
Qatar Duty Free, a subsidiary of Qatar Airways, is celebrating Chinese New Year with an exclusive Chinese-themed promotion this month at Doha International Airport. Chinese New Year is the most significant date on the Chinese calendar, celebrated not only in China, but across the Asia Pacific, from Japan to Singapore. ...

Source: http://www.breakingtravelnews.com/news/article/qatar-duty-free-celebrates-chinese-new-year

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Heather Locklear & Jack Wagner Face Charges After Big Fight

Breaking up is hard to do, especially when the court system gets involved. Former couple Heather Locklear and Jack Wagner, who broke off their engagement in November, may both be facing criminal battery charges following a heated argument in December.

Source: http://www.ivillage.com/heather-locklear-jack-wagner-face-battery-charges-after-fight/1-a-420549?dst=iv%3AiVillage%3Aheather-locklear-jack-wagner-face-battery-charges-after-fight-420549

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Thursday 19 January 2012

Jay Rome settling into second sport

For now at least, Georgia's tight end of the future is content to play a bit role in trying to help the Bulldogs' basketball team this season.

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Source: http://georgia.247sports.com/Article/Jay-Rome-settling-into-second-sport-57465

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Cyprus air traffic controllers to strike (AP)

NICOSIA, Cyprus ? Air traffic controllers in Cyprus will walk off the job for four hours on Wednesday to protest a two-year government worker wage freeze and other deficit-reduction measures.

The latest strike action on the island nation comes in the wake of last month's package of cost cuts and tax increases, which are intended to boost investor confidence. Cyprus is struggling to convince investors it has a strategy to deal with its problems and its credit rating was cut last week to junk status by the Standard & Poor's ratings agency largely because of the country's sizable financial sector's heavy exposure to Greek debt.

Airport spokesman Adamos Aspris said the stoppage between 1300 and 1700 local time will affect more than 5,000 passengers on 38 flights to and from the island's two airports.

The Air Traffic Controllers' Union President Giorgos Georgiou defended the action, arguing that his members have been unfairly grouped with other government workers.

Since the salaries of the air traffic controllers come from levies airlines pay the government to use Cyprus-controlled airspace, they should be exempt from austerity measures aimed at reducing the size of the public sector that takes up to a third of all government spending.

Georgiou said the government's measures, that also include lower overtime pay and higher contribution to social insurance, would shrink controllers' take home pay by up to 40 percent, and rejected criticism that the union is holding the economy hostage.

Communications Minister Efthymios Flourentzou said he wants arbitrators to adjudicate the dispute.

A similar four-hour work stoppage is planned for next week.

Largely unable to borrow from international markets, the island is relying on a euro4.5 billion ($5.8 billion), low-interest Russian loan to meet its financial needs for this year.

Source: http://us.rd.yahoo.com/dailynews/rss/eurobiz/*http%3A//news.yahoo.com/s/ap/20120118/ap_on_bi_ge/eu_cyprus_financial_crisis

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