Friday, March 29, 2013

Five Favorite Films with Kristin Chenoweth

Kristin Chenoweth first made a dent in the public consciousness as Glinda the Good Witch in Wicked, a Broadway smash about the early years of the The Wizard of Oz witches. Since then, she's maintained a healthy career in television, earning praise for her performances in The West Wing, Pushing Daisies, and Glee. She's even become a staple at awards shows, either as a host or, in the case of the 2013 Oscars, as a red carpet interviewer and performer.

In Family Weekend, opening Friday in limited release, Chenoweth plays the snarky mother of a high-achieving teenager who takes her parents hostage to protest their indifference to her life. In an interview with RT, Chenoweth shared her favorite movies, and discussed the differences between working on the stage and screen and why she's drawn to dark comedies.


Okay, Steel Magnolias. I have six aunts, and they're all like my mom, and they're all insane, but in a good way. That movie makes me think of them. And I'm also Southern, so it's like, "Mmm, I get it."

I love Shawshank Redemption. Whenever it's on, I have to watch it. I think it's so well written and so well done. I love the story.

I'm kind of a weirdo; I love prison movies and war movies, which leads me into Schindler's List. I think it really captured a moment in time that we aren't proud of as a human race, and I just think [Steven] Spielberg knocked it out of the park.

I like Inglourious Basterds; it's another one of my top movies. I love [Quentin] Tarantino, and I don't want to say I like violence, but I'm kind of like a dude in a lot of ways.


What was the other one I always watch when it's on? Oh, this is dorky... This says everything about who I am: The Sound of Music. It's just my favorite movie musical, and, I mean, it's the reason I wanted to become a singer and an actress, was because of Julie Andrews and the Von Trapps. That kind of pretty much explains who I am, which is one big fat dichotomy.

RT: It's kind of cheesy in a lot of ways, but you can't help loving it. I always get excited during the part where the nuns have sabotaged the Nazis' car.

KC: They have, like, the carburetor and... [laughs] The nuns are actually some of my favorite parts. I love it. I can't help it. I just can't help it.



Next, Chenowith talks about her new film, the differences of working in film and on stage, and why she's drawn to dark comedies.

Source: http://www.rottentomatoes.com/m/1927123/news/1927123/

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The Secret Republican Plan to Repeal 'Obamacare'

A few minutes after the Supreme Court issued its landmark decision upholding President Obama?s health care law last summer, a senior adviser to Mitch McConnell walked into the Senate Republican leader?s office to gauge his reaction.

McConnell was clearly disappointed, and for good reason. For many conservatives, the decision was the death knell in a three-year fight to defeat reforms that epitomized everything they thought was wrong with Obama?s governing philosophy. But where some saw finality, McConnell saw opportunity ? and still does.

Sitting at his desk a stone?s throw from the Senate chamber, McConnell turned to the aide and, with characteristic directness, said: ?This decision is too cute. But I think we got something with this tax issue.?

He was referring to the court?s ruling that the heart of the 2010 Affordable Care Act, the so-called individual mandate that requires everyone in the country to buy health insurance or pay a penalty, was a tax. And while McConnell thought calling the mandate a tax was ?a rather creative way? to uphold the law, it also opened a new front in his battle to repeal it.

McConnell, a master of byzantine Senate procedure, immediately realized that, as a tax, the individual mandate would be subject to the budget reconciliation process, which exempted it from the filibuster. In other words, McConnell had just struck upon how to repeal Obamacare with a simple majority vote.

The Kentucky Republican called a handful of top aides into his office and told them, ?Figure out how to repeal this through reconciliation. I want to do this.? McConnell ordered a repeal plan ready in the event the GOP took back control of the Senate in November ? ironic considering Democrats used the same process more than two years earlier in a successful, last-shot effort to muscle the reforms into law.

In the months that followed, top GOP Senate aides held regular strategy meetings to plot a path forward. Using the reconciliation process would be complicated and contentious. Senate rules would require Republicans to demonstrate to the parliamentarian that their repeal provisions would affect spending or revenue and Democrats were sure to challenge them every step of the way. So the meetings were small and secret.

?You?re going in to make an argument. You don?t want to preview your entire argument to the other side ahead of time,? said a McConnell aide who participated in the planning. ?There was concern that all of this would leak out.?

By Election Day, Senate Republicans were ready to, as McConnell put it, ?take this monstrosity down.?

?We were prepared to do that had we had the votes to do it after the election. Well, the election didn?t turn out the way we wanted it to,? McConnell told National Journal in an interview. ?The monstrosity has ... begun to be implemented and we?re not giving up the fight.?

Indeed, when it comes to legislative strategy, McConnell plays long ball. Beginning in 2009, the Republican leader led the push to unify his colleagues against Democrats? health care plans, an effort that almost derailed Obamacare. In 2010, Republicans, helped in part by public opposition to the law, won back the House and picked up seats in the Senate. Last year, GOP presidential nominee Mitt Romney?s embrace of the individual mandate while Massachusetts governor largely neutralized what had been a potent political issue.

But, in the next two years, Republicans are looking to bring the issue back in a big way. And they?ll start by trying to brand the law as one that costs too much and is not working as promised.

Democrats will be tempted to continue to write off the incoming fire as the empty rhetoric of a party fighting old battles. But that would be a mistake. During the health care debate, the GOP?s coordinated attacks helped turn public opinion against reform. And in the past two years, no more than 45 percent of the public has viewed Obamacare favorably, according to the Kaiser Family Foundation?s tracking polls. Perhaps even more dangerous for Democrats, now-debunked myths spread by Republicans and conservative media remain lodged in the public consciousness. For instance, 40 percent of the public still believes the law includes ?death panels.?

During the legislative debate over the law, Democrats promised Obamacare would create jobs, lower health care costs, and allow people to keep their current plans if they chose to. Those vows, Republicans argue, are already being broken.

The Congressional Budget Office, the Hill?s nonpartisan scorekeeper, estimated that the health care law would reduce employment by about 800,000 workers and result in about 7 million people losing their employer-sponsored health care over a decade. The CBO also estimated that Obamacare during that period would raise health care spending by roughly $580 billion.

McConnell?s office has assembled the law?s 19,842 new regulations into a stack that is 7 feet high and wheeled around on a dolly. The prop even has it?s own Twitter account, @TheRedTapeTower.

?All you got to do is look at that high stack of regulation and you think, ?How in the world is anybody going to be able to comply with all this stuff?? ? GOP Sen. Orrin Hatch, told National Journal. ?And I?m confident that the more the American people know of the costs, the consequences, the problems with this law, then someday there are going to be some Democrats who are going to join us in taking apart some of its most egregious parts.?

In fact, just a few hours after that interview last week, 34 Democrats joined Hatch on the Senate floor to support repealing Obamacare?s medical-device tax. Though the provision passed overwhelmingly, it doesn?t have a shot at becoming law because the budget bill it was attached to is nonbinding. Still, Republicans see it as a harbinger of things to come.

?Constituent pressure is overriding the view that virtually all Democrats have had that Obamacare is sort of like the Ten Commandments, handed down and every piece of it is sacred and you can?t possibly change any of it ever,? McConnell said. ?When you see that begin to crack then you know the facade is breaking up.?

Of course, Republicans are doing their best to highlight and stoke the kind of constituent anger that would force Democrats to tweak the law. In fact, if Democrats come under enough pressure, Republicans believe they might be able to inject Obamacare into the broader entitlement-reform discussion they are planning to tie to the debt-limit debate this summer.

But that is a long shot. If Republicans hope to completely repeal the health care law, they have to start by taking back the Senate in 2014 and would likely need to win the White House two years later. Still, some Republicans think the politics are on their side.

?I?m not one of those folks who ... because I didn?t support something, I want it to be bad. I want good things for Americans. But I do think this is going to create a lot of issues and ? affect things throughout 2014 as it relates to politics,? Republican Sen. Bob Corker said. ?The outcome likely will create a better atmosphere for us.?

Republicans will need to win half a dozen seats to retake the chamber. So, what are the chances??

?There are six really good opportunities in really red states: West Virginia, North Carolina, Louisiana, Arkansas, South Dakota, and Alaska,? McConnell said last week. ?And some other places where you have open seats like Michigan and Iowa. And other states that frequently vote Republican, an example of that would be New Hampshire. So, we?re hopeful.?

And earlier this week, Democratic Sen. Tim Johnson put his home state of South Dakota in play when he announced he will not be running for reelection in 2014.

In addition to trying to win back the Senate, McConnell will have to protect his own seat in two years. McConnell has made moves to shore up his right flank to fend off conservative challengers. He?s hired fellow Kentucky Republican Sen. Rand Paul?s campaign manager, who helped Paul defeat the establishment candidate McConnell backed in the primary. ?

In the meantime, Republicans will continue to, as GOP Sen. John Barrasso put it, ?try to tear (Obamacare) apart.? And the GOP suspects it might get some help from moderate Democrats less concerned about protecting Obama?s legacy than winning reelection.

It?s just the latest act in a play that saw McConnell give more than 100 floor speeches critical of Democratic reforms and paper Capitol Hill with more 225 messaging documents in the 10 months before Obamacare?s passage. Away from the public spotlight, McConnell worked his caucus hard to convince them to unite against the law, holding a health care meeting every Wednesday afternoon. GOP aides said they could not remember a time before, or since, when a Republican leader held a weekly meeting with members that focused solely on one subject.

?What I tried to do is just guide the discussion to the point where everybody realized there wasn?t any part of this we wanted to have any ownership of,? McConnell recounted. ?That was a nine-month long discussion that finally culminated with Olympia Snowe?s decision in the fall not to support it. She was the last one they had a shot at.?

Indeed, some Republicans remember opposition forming organically as it became clearer where Democrats were headed, crediting McConnell for crystallizing the issue. Asked who unified Senate Republicans against Obamacare, Corker recalled, ?I think it happened over time.? As time moved on, it just seemed that this train was going to a place that was going to be hard to support.?

McConnell had finally won his long-fought battle to unite the conference against Obamcare. And some Republicans credit McConnell with being first to that fight.

?He had the Obama administration?s number before almost anyone else,? Hatch recalled. ?He began laying the groundwork for this fight very early, in private meetings and so forth, and really was the first one on our side in the ring, throwing punches just about how bad it was for families, businesses, and our economy.?

?There?s been no stronger fighter against this disastrous law than Mitch McConnell,? he added.

And as McConnell?s war continues, Democrats have begun positioning themselves for the next battle. Leading up to last week?s three-year anniversary of the law?s passage, Democrats held press events touting its benefits, claiming more than 100 million people have received free preventive services; 17 million children with preexisting conditions have been protected from being denied coverage; and 6.6 million young adults under 26 have been covered by their parents' plan.

Democrats wisely rolled out many of the easiest, most-popular Obamacare benefits first. The next few years will see the implementation of provisions that are both more complicated and controversial, like creating state-based insurance exchanges where people can buy coverage. Asked about the political ramifications of possible implementation problems, Democratic Sen. Max Baucus, a chief architect of Obamacare, sidestepped the question saying, "My job is to do my best to make sure this statute works to help provide health care for people at the lowest possible cost."

Far from a full-throated assurance that everything will run smoothly, Baucus?s answer hints at the dangers Democrats face as Obamacare comes online.

And with the law moving from the largely theoretical to the demonstrable, the health care debate is poised to return to intensity levels not seen since before the law passed.

For congressional Republicans, it?s probably their last, best chance to turn opposition into political gain.

And much of that job falls to McConnell, a brilliant defensive coordinator who will have to play flawless offense if he hopes to take control of the Senate next year.

Source: http://news.yahoo.com/secret-republican-plan-repeal-obamacare-200403420--politics.html

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Thursday, March 28, 2013

98% 56 Up

All Critics (54) | Top Critics (21) | Fresh (53) | Rotten (1)

What ultimately is so compelling about 56 Up is the universality of the experiences. We were all once children. And we all will die. And in between, there is everything else.

We feel good, refreshed and depressed in watching these people get older, also embarrassed in moments and cautioned about the passage of time.

Apted, himself now in his early 70s, says he hopes to continue the series further. Long may it live.

Watching "56 Up" gives you the wonderful feeling of seeing a sociological experiment blossom into something novelistically rich and humane.

Time has been neither kind nor cruel to the 13 men and women profiled in "56 UP." It has just been time, which is what this groundbreaking series is about.

We are all older now, and this series proves it in a most deeply moving way.

Chances are that you'll come away from this long film feeling a sense of knowing its characters.

We might say that '56 Up' serves much the same function as 'Amour,' but it responds to the inevitability of decline with compassion, not dread.

What started as a crafty way of looking at the U.K.'s rigid class structure has grown into a portrait of melancholy middle age, with its heartbreaks and minor-key triumphs.

Those British kids are now 56

Watching the eighth film is intriguing but, in a way, disappointing. At this point in the game, it feels as if all the characters have determined their lots in life and are simply plodding through their interviews.

Quite simply one of the great documentary projects in the history of cinema, an engrossing sociological experiment on film; and though this mostly mellow installment isn't as revelatory as some earlier ones, it's still a remarkable document.

... feels like a retrospective and summation of the whole series, with ample quotation from the previous films, an approach that makes it interesting even for viewers who haven't seen the previous installments.

A completely unique and remarkable documentary project.

Apted skillfully weaves old footage with the new, and we become poignantly aware of another factor shaping their lives (and our own): biology, as the we watch the once-cute kids grow gray and heavy.

Perhaps the boldest and probably longest running sociological experiment on film.

I think the best thing about this movie (and the entire series) is that it forces the viewer to think about their own lives. It's kind of an awakening experience.

Once again, Apted assembles a captivating documentary that's profoundly educational, essential viewing to aid the understanding of the human experience.

"56 Up" is well worth seeing.

56 Up is still moving and philosophic, though not as exciting as earlier episodes, which had more drama.

The running time is over two hours, but the lives here are richly revealed and vastly rewarding.

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Source: http://www.rottentomatoes.com/m/56_up/

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Supreme Court Arguments Leave Anti-Gay Movement Humiliated: Salon

Salon:

It didn?t take long for the empty truth about the discriminatory Defense of Marriage Act to be exposed Wednesday, and there was little equality opponents could do. At the Supreme Court hearing, Elena Kagan, the newest justice, went to the House Report from Congress when it passed the law in 1996, and summarized DOMA?s entire legal underpinning: ?Congress decided to reflect and honor a collective moral judgment and to express moral disapproval of homosexuality.?

Read the whole story at Salon

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Source: http://www.huffingtonpost.com/2013/03/28/supreme-court_n_2970349.html

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Fed's Unintended Consequences Are Hitting ... - Yahoo! Finance

A week ago, it was only Esther George, the Kansas City Federal Reserve Bank President, as the lone dissenter at the Open Market Committee's March meeting. For the second time in a row she voted against the continuation of the Fed's $85 billion monthly bond purchasing policy, citing concerns that such "aggressive stimulus could heighten the risk of inflation and financial instability."

Since then, the president of the Federal Reserve Bank of New York William Dudley has also touched upon this theme of "tapering" the bond buys, as have the non-voting presidents from Dallas and Philadelphia in recent speeches.

Maybe this trio sees something or wants to send a message.

"I'm not criticizing the Fed for the position they've taken and the policy implementation they have taken," says Peter Kenny, managing director at Knight Capital Group, in the attached video. "But the bottom line is because of quantitative easing, and because the dollar is the world's reserve currency, it does have an impact."

While monthly headline inflation data continues to come in below the Fed's 2% target, Kenny and many other market watchers see it showing up elsewhere "in everything we assume is a part of our daily life."

Those items include the classic data carve-outs of food and fuel, as well as in commodities, and even in things like farm land - despite ongoing drought conditions.

By his math, the cost of Q-E, at least as it pertains to crude oil, is pushing up the price by about 50%, instead of the $65 a barrel level where he thinks current supply and demand metrics imply that it really should be. But since the Fed is actively (and justifiably) putting more dollars into the economy, he says that has resulted in "more dollars chasing that fuel," which of course leads to higher prices.

Fed Chairman Ben Bernanke may not say so, but Kenny argues that "the stock market is another case in point" of ongoing intervention.

Related: Bernanke Absolves Fed, Says Nothing Is Out of Line With Record High Stocks

"The soft bid we see in equity markets and that we run into every time there's sell-off, that soft bid is the direct result of quantitative easing," he says, acknowledging that some of the recent move higher is also the result of money coming out of bonds and into stocks, as well as cheap valuations.

But whether it's food, fuel, farmland or even shares of Ford (F) that are being impacted, the open-ended question remains; can Bernanke shrink the balance sheet, halt the stimulus, and normalize interest rates without crashing the ship?

When asked if he is confident that Bernanke will succeed at pulling off this monetary miracle on the back nine, Kenny tellingly answers, "I'm very hopeful."

Source: http://finance.yahoo.com/blogs/breakout/fed-unintended-consequences-hitting-everyday-life-kenny-134021901.html

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Wednesday, March 13, 2013

Beating Cancer In 16 Days: The Shertenliebs Share Their Story ...

BOSTON (CBS) ? For Mary Shertenlieb, the last three weeks have been an incredible journey.

The healthy mother of two and wife of Rich Shertenlieb, co-host of the wildly popular Toucher & Rich show on 98.5 The Sports Hub, went into the hospital last month thinking she had the flu.

When her condition did not improve, Mary had a blood test done. The results were alarming.

?The regular person is supposed to have between 4,000 and 10,000 ?blast cells? per blood measurement. My wife had 240,000,? Rich explained to WBZ-TV?s Dan Roche.

Doctors told Mary she had ALM, a rare form of leukemia. Eighty percent of her body had cancer, and the treatment would have to start immediately and aggressively.

The Shertenlieb family poses for a family portrait. (Photo from Rich Shertenlieb)

The Shertenlieb family poses for a family portrait. (Photo from Rich Shertenlieb)

?When she got onto the floor that she was on with the other leukemia patients, they said she was the sickest at that time,? said Rich. ?It seemed everything they said seemed to be preparing us for the worst.?

For the next seven days, doctors attacked Mary?s cancer with aggressive and strong doses of chemotherapy. It required her to remain in the hospital, and she wouldn?t be able to see her two kids, Hank and Max.

?My wife has only cried twice throughout this whole thing. The first time was when they told her that she would not be able to see our five?and two-year-old throughout this whole ordeal,? said Rich.

Rich On Mary?s Diagnosis:?

A little more than two weeks later, Mary would be crying again. But the second time Mary shed tears, they were tears of joy.

The leukemia tore apart the Shertenliebs? world, but perhaps it didn?t know who it was dealing with. As quickly and powerfully as it tried to knock Mary down, she struck right back ? and with a knockout blow.

First came news that Mary would not need a bone marrow transplant. It meant the chemo was working, and her road to recovery looked a lot smoother. But no one could have imagined the news that followed.

A day later, the Shertenliebs learned that in just 16 days, Mary?s cancer was gone.

?I?m at home with the kids putting them in the bath and I get a phone call from my wife, and she?s sobbing uncontrollably,? recalled Rich. ?She goes, ?Rich, I?m cancer-free! There?s a chance I could be home in less than two weeks to go see my boys.?

?I made her repeat it three or four times, and I tried to clarify, ?You mean you?re in remission?? (She said) ?Yes, they said the words remission. I?m cancer-free!?

?I couldn?t control myself,? he said. ?I remember reaching, trying to find my car keys and running around my kitchen three times and realizing that the car keys were in my hand. I get in the car and I call my parents and I?m a blabbering mess. I?m like, ?Mary?s in remission, she?s cancer free!? I get to the hospital and she?s waterworks. She gives me the biggest hug.?

After talking to doctors for more than an hour, the news finally sunk in.

?I still couldn?t believe it and even the doctor had a hard time remembering a case that was as severe as Mary?s that went from what she was to remission that quickly,? said Rich. ?It was truly a miracle.?

Rich Recalls Getting The Good News:?

?It is the best news that somebody has delivered me in my whole life.?

So how did this miracle happen? The Shertenliebs believe it was the power of prayer ? and the power of the Toucher & Rich show.

Shortly after the diagnosis, Rich took to Twitter to reveal the news to their devoted listeners. Co-host?Fred Toucher broke down on air that morning?as he asked?all of their faithful followers ? often referred to as the ?T&Army? ? to send well-wishes and prayers to Rich, Mary and family.

?As soon as Fred started talking about it, I got thousands of texts, tweets and emails,? recalled Rich.

The messages came from all over, passing on words of love and hope for the Shertenliebs. Some shared stories of their own or a loved one?s battle with cancer, while others just relayed the family was in their thoughts and prayers. Each of them had one thing in common though: They each gave the Shertenliebs a little more hope.

?I?ve learned that (our listeners) can be more than people who just say, ?Hey, you?re wrong about Tom Brady,? or even the nice ones who say, ?Hey, we love the show.? They became so much more than that; they became a family,? said Rich.

The NFL Network?s Albert Breer, a frequent guest on Toucher & Rich, reached out and shared the Shertenliebs? story with Indianapolis Colts head coach Chuck Pagano, who battled leukemia during the 2012 season. Despite being diagnosed midway through the season, Pagano won his battle and returned to the sidelines in time for the playoffs.

He knew it would be a tough battle, but one that Mary could win. So Pagano?sent a personal email to Rich and Mary?passing along his own battle and support.

A look at one of the walls in Mary Shertenlieb's hospital room. (Photo from Rich Shertenlieb)

A look at one of the walls in Mary Shertenlieb?s hospital room. (Photo from Rich Shertenlieb)

?(Mary) knew Chuck Pagano and his story, and to get an email from him telling his story, we have it printed out and we actually put it on the wall in her hospital room,? Rich said. ?It was little acts like that that just helped us through.?

The day Mary was told her cancer was in remission, Rich emailed Pagano a picture of the two of them.

?We?re standing next to each other, her hair is all out, and she?s got the biggest smile on her face,? said Rich. ?Underneath it I put ?remission? and ?thank you.??

Mary is in remission, but she will remain in the hospital for at least another week as she waits for her white blood cell count to rise. She is still in air lock and anyone that stops by is required to wear masks during their brief visits, but Mary is patiently counting down the days when she can return home and be reunited with Hank and Max. Since being admitted to the hospital, the only contact she?s had with them has been over the phone and through daily videos she recorded from her hospital bed.

Having not eaten since Feb. 17, Mary is also looking forward to a real meal when she gets back home, or as Rich explained, ?the biggest meal she?s had in her life.?

Mary appeared on the Toucher & Rich show shortly after receiving her cancer-free news, and also sent Roche a video to again thank all of the T&R listeners for their love and support.

?Words can?t describe all the power and strength all the prayer and support have given me. The power of prayer has really pulled me through,? she said from her hospital bed. ?Thank you all from the bottom of my heart. I appreciate it more than you?ll ever know. Thank you.?

Toucher & Rich On Their Listeners:?

The fight has been taxing and draining on Rich and his family, and she?ll continue to have multi-night hospital stays for the next six months. The hope is she will be 100 percent cancer free by September.

Through its good days and bad, Mary?s battle has certainly changed the way Rich and his family looks at life.

?It?s completely changed my outlook on the world. Sometimes you need a speed bump to make you slow down and realize the little things that really matter,? he said. ?Like my family who has helped us out, my friends who are bringing us meals every night.

?I?ve never seen a gathering like this. Our listeners, who gave us these words of comfort, I can never repay any of them and none of them want to be repaid ? and that?s the shocking thing.

?I hope nobody gets in the situation that I?m in, but if they ever are, I pray that they have the same amount of love and caring that we got from our friends and family and I hope they realize just how many friends they do have. Because you?ll know at a time like this.?

Source: http://boston.cbslocal.com/2013/03/11/beating-cancer-in-16-days-the-shertenliebs-share-their-story/

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Small biz confidence up, not enough to boost hiring

Small-business owners' confidence improved a bit in February, but entrepreneurs still aren't feeling a surge of optimism ? or hiring.

That's the finding of a monthly survey by the National Federation of Independent Business. The group said Tuesday that its small-business optimism index edged up 1.9 points to 90.8 points from 88.9 points in January.

"While the Fortune 500 are enjoying record high earnings, Main Street earnings remain depressed," said NFIB chief economist Bill Dunkelberg in a prepared statement. "Far more firms report sales down quarter over quarter than up."

"Until owners' forecast for the economy improves substantially, there will be little boost to hiring and spending from the small business half of the economy," he said.

The sentiment's slight increase follows a buoyant mood on Wall Street last week as the Dow Jones industrial average reached new all-time highs. A strong employment report helped. The economy created a net 236,000 new jobs and the unemployment rate fell to 7.7 percent.

But Main Street for the most part isn't celebrating just yet. Why?

For one thing, budget cuts related to the sequester are likely to have a rolling, accumulated impact on small business. Companies with U.S. government contracts must decide which workers will likely be laid off as funds to keep them on payroll evaporate. Nervous about fallout from Washington, many small- to mid-sized employers remain cautious on spending and hiring.

Expenses associated with the Affordable Care Act are another reason why small businesses are reluctant to turn temporary workers into full-time, permanent employees.

Under the act, "full-time" is defined as averaging 30 hours per week. Small companies with 50 or more workers will need to provide full-time workers with health insurance or face a fine.

Read more: Who's Hiring: Health Care, Yes; Wall Street, No

Traditional lending options for small-business owners also remain closed. Entrepreneurs are even getting squeezed by tighter restrictions for both credit cards and home equity lines of credits, which small-business owners often fall back on to keep businesses open.

"It's a real struggle for them due to lack of access of capital," said Rohan Mathew, co-founder of the Intersect Fund, a New Brunswick, N.J.-based nonprofit that supports low-income entrepreneurs in the region.

Founded in 2008 when Mathews was a Rutgers University student, Intersect Fund connects newbie upstarts with basic entrepreneurial skills such as registering as a limited liability company or LLC, implementing a bookkeeping system, crafting a marketing plan and creating a website.

The nonprofit also offers loans of up to $25,000 for, say a car, or needed repairs after Super Storm Sandy.

Read more: Youngstown's Story: Rust Belt Turns to 'Tech Belt' in the Name of Jobs

Mathew said many who reach out to the Intersect Fund have lost a wage job and have been without work for months ? even a year or more.

A separate unemployment measure that includes workers no longer looking for jobs and those working part-time for economic reasons hovers at 14.3 percent.

With limited work options and competition fierce, micro small-business owners are hoping to turn a passion ? food catering, styling hair, landscaping, tailoring clothes ? into a micro business, usually with five employees or less.

"They're not going to turn into Google or a billion-dollar business. That's not the point," Mathew said. "If they hire one to two people, that's a success."

The bottom line is support small upstarts, which generate meaningful locals jobs that are an alternative to working at a big-box retailer or fast-food restaurant in the neighborhood, Mathew said.

Looking ahead, few small-business owners anticipate conditions to improve. Three-quarters of small-business owners think business conditions will be the same or worse in six months.

? 2013 CNBC LLC. All Rights Reserved

Source: http://www.nbcnews.com/business/economywatch/small-business-confidence-not-enough-boost-hiring-1C8823619

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Monday, March 11, 2013

?Ignorance is the biggest IT threat to companies? ? Kaspersky Lab

Kaspersky Lab recently launched a new security solution for?businesses designed to protect online assets and provide secure access.? Endpoint Security for Business (KESB), the company?s new flagship corporate security platform, is said to provide the best level of protection?against advanced malware and cybercrime, and?effectively combat common enemies of IT security.

Vasily Dyagilev, Managing Director of Kaspersky Lab in Emerging Markets (image: Kaspersky)

ITNewsAfrica spoke to Vasily Dyagilev, Managing Director of Kaspersky Lab in Emerging Markets about how?the company?s?current security solutions differ from previous versions, the state of security readiness among?South African businesses and the single biggest threat to a connected business.

* How does the new Endpoint Security Solution differ from the previous one?

This is one of the key product launches for Kaspersky Lab in the last couple of years.?Kaspersky was famous -?and is still famous -?for being a niche player in antivirus, for providing the best antivirus solutions. But our portfolio has been?very narrow, to the extent that it did not allow us to?provide extra solutions to our partners.

So this new product platform has been?designed to cover new threats that appear in?security ? which are not actually?connected?to?digital threats, but to?the complexity and manageability of the systems that people use. People use different systems for fighting viruses, patching malware, license management and firewalls.?The problem is that most of these systems are?not designed to work together and the biggest target in the industry is not the vendor, but the holes that appear between incompatible?systems.

What we designed with the new product range is a single platform people can use for mobile management, PC management and any management of a system within a corporate environment ? everything from?patching third party software that might be installed to providing rules and policies, as well as encryption. The platform was designed with security in mind and allows management from a single console.

The current security approach seems a bit strange to us -?many people view security with?only?regulation in mind and simply to comply with?certain rules. But they do not actually see that those rules might be outdated and may lead to a poor decision.? A lot of people also think that introducing an?antivirus program is sufficient?? which it is not. We are doing our best to?fight this ?head-in-the-sand? behaviour!

* How does the new product make the lives of IT administrators easier?

It is one single console and a single platform. When you have a zoo of different systems, the key admin needs to switch between Windows, between different servers. For example, the AV is updated, but the patch management system is not ? this then needs to be done?manually.

There is a lot to consider?and most of these different consoles are issued with the?same access passwords by?admin in order?to make things easier?? and you know what? Sometimes they use those same passwords for their personal sites like Facebook and Twitter. So there is a risk when the password is discovered, it can actually be a bridge into the system. With the Kaspersky solution, you have one console that controls all your licenses and all your devices, and it has a lot of tools for the automation of patching and updating.

* How well protected are South African businesses?

The country is?not that much different from the rest of the world ? the only problem is that?a lot of business in South Africa have emerged?in the last couple of years.?A lot of people have started their own businesses, but being inexperienced?internet users, they do not know?how to protect themselves.

In Africa, given?the increasing speed connections, you will actually be far?more vulnerable if you do not know?how to protect yourself. Another reason is this same ?head-in-the-sand? mentality where they think it?will not?happen to them because they do not?go to porn websites. It might happen to them without even being connected to the internet, with viruses like Stuxnet, Red October, Duku and miniFlame. They reached their targets after five years since creation without being connected to the internet.

* What is the single-biggest threat to businesses?

Ignorance. The biggest threat to?IT security, in a lot of cases, is carried by IT persons. There is now a big debate that the security officer within the company probably should not?have an IT background ? he or she should have a background in business. IT now takes up to 50% of the financial load of financial assets in a company. The biggest threat to security stems?from people. It is amazing to see how much information about systems and passwords one can find just by walking around an office ? some people will even write passwords on a white board, and people stick passwords on computer screens. That is why companies should have password policies that make use of a sentence, such as ?I love my dog?. It will increase the security and everyone will think of something very original that they will not?forget.

* Will we see more corporate attacks in 2013 than previous years?

Yes, most definitely. The time of hackers doing things just for fun is long gone.?It is a big business and there is big money involved. Just imagine an attack on an oil terminal ? it will cause billions of dollars in loss of revenue and they will go to the competitor. We will see a lot of targeted attacks and we do see it happening more frequently in the last few years. It is a business, and when there is money to be made, people will find a way to breach the system and get valuable information.

Charlie Fripp ? Consumer Tech editor

Source: http://www.itnewsafrica.com/2013/03/ignorance-is-the-biggest-it-threat-to-companies-kaspersky-lab/

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Kenya church moves past painful election history

NAIROBI, Kenya (AP) ? The Rev. Joshua Kimuyu pointed where his church floor is broken and black, a scar from an attack five years old. More than 200 young men armed with crude weapons stormed the Africa Inland Church in Nairobi's sprawling Kibera slum and set a generator on fire.

The explosion tore through the roof, creating one of the most visible scenes of postelection violence after Kenya's disputed election of 2007.

The dark spot is a constant reminder of the church's vulnerability during national elections. But for Kimuyu there was no question of keeping its doors shut this Sunday, the day after Kenya's election commission announced the winner of the East African country's fiercely contested presidential election. This time, Kimuyu said, there was nothing to fear after the two leading candidates ?winner Uhuru Kenyatta and loser Raila Odinga ?pleaded for calm and unity.

"When presidential candidates spoke to the media, they kind of fueled the steam in the people," he said, looking back on the disputed election of 2007, when more than 1,000 people died in tribe-on-tribe violence. But this time, although the election was hotly contested and close, the candidates urged Kenyans to respect authority, and that appears to have made a difference, said Kimuyu.

Sunday was a day of peace in Kenya. No violence was reported. Late Saturday, only the most minor of disturbances were reported in the hours of after Kenyatta was named the winner.

Odinga, who called the election "tainted," vowed to press a case of election irregularities with the Supreme Court. But he asked that Kenyans love one another and remain at peace.

The election commission said Kenyatta, the son of Kenya's founding father, won last Monday's vote with 50.07 percent of ballots. Kenyatta stands accused by the International Criminal Court of helping direct some of the 2007-08 postelection violence in which tribes attacked each other with machetes and bows and arrows and the police shot protesters.

Five years ago, President Mwai Kibaki was hurriedly sworn in for a second term, even as Odinga said the election had been stolen. His supporters took to the streets.

At the time, the Africa Inland Church was targeted because it was believed to be patronized by the Kamba tribesmen of Vice President Kalonzo Musyoka, whose willingness to serve in Kibaki's government was seen as a betrayal by the opposition.

In the wake of the 2007-08 violence Kenyans passed a new constitution. That document says that President-elect Kenyatta cannot be sworn in before the court rules on the petition Odinga says he will file. If the court rules that Kenyatta did not cross the 50 percent mark, then Kenyans will vote in a run-off election between the top two finishers.

For Kimuyu this is tremendous progress from five years ago, when Odinga called for mass action.

"I think this is one of the things that have changed since the last election," Kimuyu said. "Odinga is an advocate of the new constitution."

In the run-up to this election, clerics and activists held rallies that preached peace and unity no matter the election result. That investment seems to have paid off, with some of the most hardened Odinga supporters saying he should concede for the sake of the country.

In the Kibera slum, an Odinga stronghold that saw some of the worst violence after the 2007 election, residents went about their business on Sunday morning. Stalls were open, and some young men even seemed more animated by European football than by the outcome of the election. In Kimuyu's church a choir sang as he got ready to deliver a sermon that he said would focus on what it means to be a responsible, lawful citizen.

"We never talk politics here," said Ericson Munyao, a long-time member of the church who was among the first to witness the 2008 attack. "We just tell them to vote wisely, not who to vote for. We simply preach peace."

Source: http://news.yahoo.com/kenya-church-moves-past-painful-election-history-133232139.html

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Utah legislature likely to fund alternative education program using ...

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Friday, March 8, 2013

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Banks Borrow Way Too Much

Goldman Sachs Chairman and Chief Executive Lloyd Blankfein leaves the Manhattan federal court after attending the Rajat Gupta insider-trading trial in New York June 7, 2012.

Should be better control banks' borrowing? Above, Goldman Sachs CEO Lloyd Blankfein in 2012.

Photo by Kena Betancur/Reuters

A company looking to make an investment needs money, and it can get the money in one of two ways. It can finance the investment with debt by borrowing money from a bank or bond markets, or it can use equity by either selling shares of stock or recycling operating profits that could have been used to pay dividends instead.

Debt financing has two advantages over equity financing. One is that interest payments are tax deductible. The other is that the lender gets the same amount of money back no matter how well the investment turns out, so the firm and its owners get to hog a larger share of the upside. The downside to debt, of course, is that if the investment works out poorly, you still have to pay the loan and interest back, and you might go bankrupt. The more debt you have, the bigger your risk of going bust. Since people don?t want to lend money to a company that?s likely to go bust, companies normally try to be moderate in their use of debt. Some companies?Apple, for example?don?t carry any debt at all.

Banks are different. They?re legally required to hold some cash reserves in case depositors want to make withdrawals, but beyond that they largely kick profits out to shareholders as dividends rather than use them to finance investment. Instead, investments are overwhelming financed with debt. They play, in Louis Brandeis? memorable phrase, with other people?s money. Most simply, they accumulate low-interest short-term loans in the form of bank deposits and recycle the money into higher-rate longer-term loans like mortgages. Modern banks also have more complicated ways of borrowing (money market funds, interbank loans) and spend a fair amount of their time investing in complicated securities trading.??

Borrowing in order to lend or invest is the core of banking, but while 19th-century banks regularly raised around half of the funds from equity, recently adopted international rules proposing that banks finance no more than 97 percent of their investment with debt are being treated by the industry as the end of the world as they know it. An excellent new book, The Bankers? New Clothes by Anat Admati of Stanford Business School and Martin Hellwig of the Max Plank Institute, argues that these debt levels rather than the more discussed topics of excessive gambling or ?too big to fail? are the real problem with modern finance. And their argument is attracting praise not just from left-wing figures like Simon Johnson but also from conservatives like John Cochrane writing in the Wall Street Journal.

The case, in essence, is that banks are not so much too big to fail as too likely to fail, prompting disastrous financial crises.

Regulatory efforts?like the 2010 Dodd-Frank financial regulation overhaul?thus far have focused on improving supervision of what banks are up to and trying to restrain them from engaging in excessively risky speculation. Proposals to go further typically focus on trying to shrink banks, divide their lines of business, or restrict what kinds of investments they can undertake. Admati and Hellwig say instead we should make them fund a much larger share of investment?20 to 30 percent?with equity. Speculative losses that would bankrupt a financial institution with 3 percent equity would simply push a bank with 20 to 30 percent equity into the danger zone, where it would be banned from paying dividends or engaging in share buybacks until retained profits have gotten it out of danger. A bank that phenomenally screwed up and fell below 20 percent would face sterner discipline while still having a nonzero equity cushion.

Conventional wisdom both in the industry and among the regulatory establishment is that this would be economy-killing madness leading to huge increases in borrowing costs. Brookings Institution fellow Douglas Elliott, in one of the milder critiques, says borrowing costs would rise by about 2 percentage points. Today?s 4 percent mortgage, in other words, would cost 6 percent in an Admati-Hellwig world.

The authors? partially persuasive reply is that this involves confusing social costs with private costs. Bankers like to say that debt is cheap and equity expensive, but if debt is so cheap why don?t other kinds of firms rely on it to the extent that financiers do? The reason is that for normal companies, debt stops being cheap once they?ve already borrowed a lot. Heavy debt makes bankruptcy more likely, so investors demand higher interest rates. Banks escape this because their creditors have explicit (think Federal Deposit Insurance Corporation) and implicit (think AIG or Fannie Mae and Freddie Mac) guarantees and because past experience with liquidating financial firms in bankruptcy (think Lehman Brothers) have been very unhappy. Debt?s cheap, in other words, because it?s subsidized?meaning heavily indebted banks represent a transfer of wealth from taxpayers to the financial industry.

Less convincing is the authors? claim that imposing stricter capital regulation would have no costs. They analogize their proposal to rules preventing firms from engaging in excessive pollution but fail to explore the analogy deeply enough. Just because such rules make society better off overall doesn?t change the fact that specific people?not just fat cats but ordinary workers and even whole communities?can suffer huge economic losses as a result of stricter environmental rules. In particular, while letting factories pollute willy-nilly is a bad idea, it does get you cheaper manufactured goods.

By the same token, some of the benefit of society?s bank subsidies accrues to customers. Rolling back the subsidies with dramatically tougher capital requirements really would make some kinds of loans scarcer.

On the other hand, the idea that this would be an economy-killer lacks any real basis. The Federal Reserve sets economy-wide interest rates through monetary policy and could offset the overall macroeconomic impact of tighter lending standards. The difference is that some kinds of borrowing?by consumers and small businesses from banks?would get more expensive, while it would get cheaper for large firms and governments to borrow in bond markets. That?s not a free lunch, and in the short-term at least it might make some people pretty unhappy. But it?s not an unattractive vision either. The aughts? experiment in substituting cheap consumer credit for rising incomes didn?t have a happy outcome, and while nobody likes to stand up for big business, the fact is that large-firm investment activity is an important driver of long-term productivity. Forcing banks to borrow less, in other words, wouldn?t just mean a safer financial sector: It?d give a different shape to the real economy. Yet far from undermining the case for stricter capital requirements, this arguably strengthens it. The provision of implicit subsidies to bank debt distorts the overall economy, and tough rules to limit borrowing are an appealing way to get back on track.?

Source: http://feeds.slate.com/click.phdo?i=4698c9f2251a8dac20d4c77acd5edb9f

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