Wednesday, July 24, 2013

With tough luck town, Obama has deep connection

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GALESBURG, Ill. — The struggles of this town are something that resonated deeply with President Obama long before he picked it as the site to launch his latest effort to refocus the national conversation on a sputtering economy.
Months before the old Maytag plant here ran its last shift in 2004, the then Democratic candidate for U.S. Senate made the 3-hour drive from Chicago to meet with workers who had already received their pink slips after the maker of kitchen appliances decided to lay off all 1,600 workers and ship their jobs to Mexico.
"What had swept through a lot of towns throughout the Midwest and Northeast had happened in Galesburg, where people were left high and dry," Obama recalled earlier this week. The "tax base had declined, unemployment had soared, a lot of folks out of work; the jobs that replaced them generally were jobs that paid a much lower wage."




To begin what the White House is billing as a several weeks-long effort to turn the national conversation to the economy, Obama picked Galesburg to kick off the campaign.
The speech in Galesburg — the first in a series the White House says Obama will make on the economy between now and the end of September — has been dismissed by some Republicans in Washington as hollow rhetoric.
Still, for the president, there are few places with as much personal resonance as Galesburg. Obama has repeatedly pointed to this community's situation as emblematic of the pressures facing middle class communities throughout the country as the U.S. economy continues to limp along four years after the Great Recession ended.
He spoke of the workers at Maytag when he delivered his first Democratic radio address in the summer of 2004.
Weeks later, he lamented in his well-received keynote address at the Democratic National Convention in Boston that the union workers in Galesburg were "having to compete with their own children for jobs that pay seven bucks an hour."
And he returned to Galesburg in 2005 as a newly minted senator to give his first major address on the economy, a speech where he focused on how changes in technology, globalization and the weakening of unions were wreaking havoc in manufacturing communities like this one.
In his 2006 book, Audacity of Hope, Obama recalled when he went to meet the Maytag workers, Galesburg was already reeling from the loss of an industrial auto parts maker and rubber hose manufacturer, which had shut their doors. Another big employer in Galesburg, the steelmaker Butler Manufacturing, would follow Maytag's path and close its doors and lay off more than 400 other workers.
But a rebound, albeit one that is coming in fits and starts, is underway here. Through tax incentives and other programs, Galesburg has assisted the private sector in retaining or creating 1,000 jobs over the last three years. For a small community of about 33,000, that's no small thing, said Gary Camarano, the global strategies director for the city.
In a building donated from a clothing manufacturer that closed its American operation years ago, Galesburg opened an 88,000 square-foot sustainable business center to spur what it is hoping will become a front door green technology in central Illinois.
Among the businesses that have taken advantage of the incubator: a tank-less gas water heater manufacturer, a renewable energy outfit growing a biodiesel fuel stock from a winter plant called pennycress, and a manufacturer of laminated bamboo products for flooring and construction use.
Two manufacturing businesses with longer ties to the community announced in 2012 that they would hire 87 and 76 welders respectively. The town also organized its first trade mission in December 2012 — a rarity for a community this size — to Indonesia to connect some of it companies with businesses there.
"As much as we'd all like for some 3,000 employee-company to move to Galesburg, that's probably not going to happen anytime soon," Camarano said. "So, in the meantime we're going to focus on working with small and mid-sized companies that we can help grow."
While there has been progress, anxieties about what lies ahead linger.
Linda Hankins, 58, was one of those Maytag workers who had a brief brush with Obama when he came down to meet with workers as layoffs were looming in 2004. With just a high school diploma, Hankins was able to snare a good paying job at Maytag at the age of 19. She would keep the job for 30 years until Maytag finally shuttered its facility at the end of the summer of 2004.
After Maytag, she went back to school and earned an associates degree. She is now working as an administrative assistant at Carl Sandburg College. While she has maintained economic stability, Hankins said that regaining a feeling of economic security has been more elusive.
"I still worry about losing everything I've worked my whole life for," she said.

Tuesday, July 23, 2013

What stocks do investors think will crash?

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Q: Which stocks do investors expect to crash?
A: When the crowd at a baseball game doesn't like a batter, there's no hiding it. The audience's boos make it crystal clear who the crowd is betting against.
Investors, too, have their favorite stocks and the ones they're hoping will fail. But while there's no booing on Wall Street, investors can still find out which stocks investors are betting against.
The best way to find out which stocks are being bet against is a measure called short interest as a percentage of float.

Short interest is a measurement, provided by the stock exchange, of how many shares of a stock have been sold short, or bet against. The number of shares sold short is then divided by the number of shares that are freely traded, or the float. The result is percentage that tells investors what percentage of shares available for trading are being bet against.
Stocks might have high short interest for a variety of reasons, ranging from the belief the company's growth will slow or that the stock is overvalued.
And it's for a variety of reasons that the companies currently hit with the highest level of short interest are animal medicine maker Zoetis at 38% of float, followed by iron company Cliffs Natural at 36% and J.C. Penney at 36%.

Google Hangouts on air a success for L.A.TV station

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Every morning at 8:30 a.m. TV station KTTV Fox11 LA escorts celebrity guests from itsGood Day, L.A.show to also do a "Google Hangout on Air" video in the newsroom — to interact directly with viewers.
Only ten people can join in to participate at any one time, including the moderator, which is usually KTTV's weather reporter Maria Quiban. But station execs say it's worth the effort, because the general public can watch it all unfold live, on both the Google+ social network and YouTube.
For Google, Hangouts on Air (#HOA) are another tool to differentiate itself and build awareness for Google+, the social network that with 190 million active members is about one-fifth the size of Facebook.
HOAs are increasingly popular. President Obama has done one, as has comedian Conan O'Brien, super model Tyra Banks, Face the Nation's Bob Schieffer. TV networks like MSNBC, the BBC, CBS and Al-Jazeera.



A few local TV stations have dabbled in HOAs, but few with the regularity of Fox11.
Having the consistent interaction with viewers every morning Monday-Friday has "helped us build an online audience in a place we normally wouldn't be," says Kingsley Smith, KTTV's news director. And it showcases how the station is different from competitors.
Google says interest in HOAs from media properties has grown substantially. "We've seen a significant ramp up of interest in the last year and especially the last few months," says Olivia Ma, Google's head of news and partnerships.
Broadcasters like engaging viewers with HOAs because they get "a wider range of participation from the audience," she adds.
Statistics are hard to come by, surprising since Google's YouTube network is all about numbers — how many "views" a specific video gets, or how many subscribers a channel has. The most viewed video ever on YouTube, Psy's Gangham Style, has 1.6 billion views.
Ma declined to reveal stats for HOAs, and Smith doesn't have them either.
What he will say is that the station has hundreds of thousands of folks signed up to the MyFoxLA Google+ site.
Google has been working hard to beef up Google+ in the past few months. It shored up photo sharing in May with additional storage (15 gigabytes) and is integral with the new Google Glass, the miniature computer you wear on your head.
Photos and videos taken on Glass go directly to Google+.
"I've seen numbers suggesting that (apps) Vine and Instagram have taken off in a bigger way this year," says veteran search analyst Danny Sullivan, who runs the Search Engine Land website. "But HOAs are still something unique about Google+ that some people use, but not everybody."
The social network is a success for Google, as the number two alternative to Facebook. "That's a big accomplishment," he says.
Quiban, who has over 1 million followers of her Google+ account, says bringing in viewers via webcam "puts the station "at the forefront of technology. It's been so much fun to expose our viewers to a totally different side of what we do."

Why Microsoft will win

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Before the stock market opened today, Microsoft was trading at $31 and change per share. That's down from around $35 prior to last Thursday -- when the software giant confirmed that Windows 8 and Surface sales were not gangbusters in its fiscal fourth quarter, which ended June 30.
Even so, Ron Chan, an analyst, with the The Appleseed Fund, a socially responsible, mid-cap value mutual fund, remains optimistic about the position Appleseed took in Microsoft earlier this year. Here's what he says:
Q: What would you say is the go-forward outlook for Microsoft?
A: From a numbers point of view, we believe Microsoft will continue to generate strong revenue growth and earnings growth. Windows may feel stagnant as Microsoft adjusts to the growing pains of Win8 , but Office and Servers should drive earnings, as will the Xbox.
From a strategic point of view, we believe Win8 makes a lot of sense. Win8 attempts to unify all hardware platforms – the PC, tablet, mobile, Xbox, etc. In this way, Microsoft is behaving somewhat like an Apple in that it wants to keep you into the Windows world with a tight integration of operating system and applications.
Q: Easier said than done.
A: The trick, of course, is to get people to use Win8. This seems much easier to do on the enterprise side, where folks are conservative, than on the consumer side, where tastes are a little more fickle. That said, Windows remains very sticky, in my view.
Q: How much could the release of Windows 8.1 later this year, combined with recentexecutive suite overhaul, undergird the push to devices and services?
A: The reorganization is trying to address the problem that Microsoft has had – it has all these great products, but none of them were coming together in a coherent fashion. By collapsing the product silos, or business unit silos, (CEO) Steve Ballmer hopes to create more integrated products.
Q: What's the optimistic reason to keep faith with the course Ballmer has set?
A: Microsoft has some great assets to work with. Windows, Office, Server, Xbox , Outlook, Skype, Bing, etc. This could translate into devices and services that provide a packaged solution to your computing needs. That's the way the world is going and it'll be very interesting to see. For example, how about doing a Bing Search while in Microsoft Word? The possibilities are endless.
Q: What's the pessimistic scenario?
A: We're optimists.

Five things to know Tuesday

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It's a royal baby boy!
Now that we know it's a boy for Will and Kate, the next big question turns to a royal name. A terse statement Monday announced only the time of birth, the infant's gender and that mother and child were doing well. It gave no information about the baby's name, and officials would say only that a name would be announced "in due course." As the world waits for Will & Kate's baby to be named, kill some time creating your very own royal moniker. The Duke and Duchess of Cambridge would surely approve.
Landing gear fails on Southwest jet
The front landing gear of a Southwest Airlines flight arriving at New York's LaGuardia Airport collapsed Monday night shortly after the plane touched down on the runway, leaving several people with injuries. The Port Authority of New York and New Jersey says 10 passengers were treated at the scene, with six being taken to a hospital with minor injuries. The six crew members were taken to another hospital. The FAA is investigating, as is the National Transportation Safety Board.
Brewers' Ryan Braun suspended
The 65-game suspension of Milwaukee Brewers outfielder Ryan Braun, though the specifics of his violation have not been revealed, increases the cloud over other players who have been linked to Major League Baseball's investigation into performance-enhancing drugs and the Biogenesis clinic in Miami. Will Alex Rodriguez be next?
Fewer parents can pay college tuition
As families continue to recover from the recession, they're relying less on their own income and savings and more on grants and scholarships to finance a college education than in previous years, according to Sallie Mae's How America Pays for College study released today.
Lance Armstrong talks Oprah backlash
Lance Armstrong makes his return to public cycling, and took time to sit down with the Des Moines Register and Gannett to talk about the backlash he received after his Oprah interview in January. Armstrong rode with an estimated 20,000 others this week during the Register's Annual Great Bicycle Ride Across Iowa (RAGBRAI). Check out the video above to hear what Armstrong had to say about his return to the seat of a bicycle.

Monday, July 8, 2013

Christian Bale emerges 'Out of the Furnace'

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Christian Bale plays a steelworker forced to go up against criminals to find his brother in this sneak peek at "Out of the Furnace."

In Out of the Furnace, Christian Bale has none of Batman's superhero qualities lingering from theDark Knight trilogy.
That's just how director Scott Cooper wanted it for his film about a steelworker standing up against tough criminals, Cooper's first foray since writing and directing 2009's Crazy Heart. Out of the Furnace is set to open Nov. 27.
"You often find superheroic people wearing capes and costumes in film today," says Cooper. "But working-class Americans are the real heroes. This is the story of this man who works in a blast furnace, but with themes of justice, retribution and courage."


Bale's Russell Baze confronts a local criminal (Woody Harrelson) while searching for his missing brother (Casey Affleck), an Iraq War veteran. Baze is not the traditional slick action character.
"Russell is not of that personality, nor does he wish to be," says Bale. "But he finds himself having to confront these people in order to do the right thing. He's only got his own fortitude and will power, nothing else."
To capture the blue-collar spirit, Cooper insisted on filming in Braddock, Pa., where he set the story. The director was impressed with the way Bale immersed himself, taking none of his own clothing on the shoot — wearing only what Russell would wear. Bale also experienced work on the steel furnace.
"It's long hours, unhealthy conditions and intense heat.," says Bale. "It's dangerous work. The guys had recently lost a friend who had died on the job. But there's a great bond. And they have a love for it, despite the hardships."
Bale and the other actors — the cast also includes Forest Whitaker, WIllem Dafoe, Sam Shepard and Zoe Saldana — were also able to find character role models in the town. Bale recorded a local man at length to get a handle on the tricky Braddock accent.
"You'd think he was listening to Daft Punk or something with his headphones on, but it was these recordings," says Cooper. "He would listen to it endlessly, even between takes."
Cooper says the Pearl Jam song Release was an inspiration while he wrote the screenplay, so he flew to Seattle to show the film to lead singer Eddie Vedder, who wound up collaborating on the soundtrack.
"I ran the movie for Eddie and I'll never forget the look on his face," says Cooper. "It moved him."
The film is also a testament to the steel workers who have suffered through trying economic times, Cooper says.
"It shows the plight of the citizens of Braddock. They have banded together and emerged stronger now," says Cooper. "It's much like the process of what steel undergoes — intense heat which emerges stronger as it comes out of the furnace."

UFC 162 fixed? Dana White says 'you (expletive) idiots'

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UFC President Dana White has a term for people who think Saturday's UFC 162 headliner was fixed. It's not a very nice one, either.
However, when stakes are high and your brain can't fully comprehend what just happened, White said it should be a reminder about the uncertain nature of combat sports – and not fodder for conspiracy theories.
Soon after Anderson Silva tempted fate one too many times and suffered a crushing second-round TKO loss to new UFC middleweight champion Chris Weidman, the cries of a fight fix inundated social media.
FIGHT RECAP: Silva clowns way to defeat
"It happened so fast – and some of you said it, and I was thinking the same thing – 'What just happened? Was he goofing around? Is he still goofing around when he's down, and he's getting ready to pull guard?' Then they show that replay, and you just see him get clipped, and his eyes just roll back in his head," White said after Saturday's pay-per-view event at Las Vegas' MGM Grand Garden Arena.
"Yeah, the fix is in, you (expletive) idiots."
White's understandably bombastic response is nothing new. Just a few months ago, Vitor Belfort blasted Luke Rockhold with a spinning heel kick to the noggin. However, cries that Rockhold "nodded" in Belfort's direction – apparently as some type of signal – became so prevalent that Rockhold actually had to issue a statement that no fix was in.
And it's not exactly a tiny minority making such a fuss. Peruse any forum or message board or social media site, and you'll see the craziness. Mixed among the fans' cries of conspiracy are an equal number of folks calling them crazy. While disregarding the logistics required to pull off such a fix – and ignoring the irreparable harm it'd do a billion-dollar company – many are convinced such things can be choreographed.
White said those fans need to see the big picture.
"That's one of the things that makes combat sports and this sport so exciting," White said. "When two guys go in there, anything can happen. And to go out like that – goofing around and doing all the (crap) he did and then to get clipped?
"Did you look around that arena tonight when he (expletive) lost? The whole (expletive) place was like going, 'Holy (expletive)!' People were clapping and cheering. I've got a buddy from Boston who's down in Huntington Beach right now, and he said the streets were loaded with people out in the streets just yelling and screaming and going crazy. Imagine what it was like in Brazil, what it was like in Brazil when the dude lost. This is just one of those moments where people are just (expletive) going crazy. Anderson Silva lost tonight. That's just one of those crazy moments."
In this particular case, perhaps it's just a way for some fans to comprehend what they saw.
Entering UFC 162, Silva, MMA's pound-for-pound kingpin, had won 17 consecutive fights, 16 straight UFC bouts and had posted 10 consecutive title defenses. He's clowned and taunted other opponents, only to pull off one highlight-reel victory after another.
This time, though, Weidman assured that didn't happen. He was prepared for the champ's mind games and capitalized when the opportunity presented itself. So give Weidman the credit he deserves, White said. And do the same with Silva.
"He handled it like a champ, man," White said following the UFC 162 post-fight news conference. "He got up, he gave his interview, and said what he said. (Expletive) got dressed, showered, came out here, answered all the questions, stayed and had good answers to the questions. He didn't act smug. He handled it like a man."