Sunday, July 22, 2012

Obama visits Colorado, tries to comfort shooting spree victims

Obama visits Colorado, tries to comfort shooting spree victims


Obama visits Colorado, tries to comfort shooting spree victims

Posted: 22 Jul 2012 07:10 PM PDT

Crosses are seen at a memorial for victims behind the theater where a gunman opened fire on moviegoers in AuroraAURORA, Colo. (Reuters) - President Barack Obama on Sunday traveled to Colorado and offered hope and comfort to victims of the gunman who killed 12 people and wounded 58 in a Denver-area movie theater. The shooting spree early on Friday shocked the nation and dominated the news. Obama met privately with the families of victims and said he had listened to stories about those who were killed and those who risked their lives to help others. ...


Penn State facing severe NCAA sanctions, removes Paterno statue

Posted: 22 Jul 2012 03:29 PM PDT

A worker puts up tarps on a temporary fence around the statue of the late Penn State football coach Joe Paterno before removing the statue outside Beaver Stadium in State College PennsylvaniaSTATE COLLEGE, Pennsylvania (Reuters) - Penn State University braced for potentially crippling sanctions against its football program for covering up former assistant coach Jerry Sandusky's sexual abuse of children, hours after it took down its statue of coach Joe Paterno for his role in the scandal. The National Collegiate Athletic Association said on Sunday it would announce punitive measures against the school on Monday, and could levy the so-called death penalty that would eliminate an entire season or more for the scandal-scarred football program. ...


Fed official highlights benefits of flexible QE: FT

Posted: 22 Jul 2012 06:31 PM PDT

LONDON (Reuters) - An open-ended round of quantitative easing that could be adjusted to suit economic conditions should be considered if the Fed launches a fresh round of monetary stimulus, a top policy official in the Federal Reserve said in an interview with the Financial Times. There is "pretty significant" downside risks to the U.S. economy from the euro zone crisis, John Williams, president of the Federal Reserve Bank of San Francisco, said in an interview with the Financial Times on Monday. ...

R&B star Usher's former stepson dies from boating mishap injuries

Posted: 22 Jul 2012 10:20 AM PDT

NEW YORK (Reuters) - Kile Glover, the 11-year-old former stepson of Grammy-award winning R&B star Usher, died on Saturday of injuries received in a boating accident more than two weeks ago. Glover died on Saturday morning, the Willie A. Watkins funeral home in Atlanta said. "We are handling the arrangements," an employee at the funeral home said. Glover, the son of Usher's ex-wife Tameka Foster, was on a raft on Lake Lanier in Georgia on July 6 when it collided with another watercraft. He sustained a brain injury and had been treated at an Atlanta hospital. ...

Shooting victims brought together by love of comics

Posted: 22 Jul 2012 12:47 PM PDT

A photo of Alex Sullivan is seen at a memorial site for victims behind the theater where the shooting occurred in Aurora(Reuters) - They included a sandwich maker, a cryptography expert, college students and a property appraiser. Some loved wrestling, others sportscasting, or visiting the zoo. The 12 people killed early on Friday morning in a multiplex in Aurora, Colorado, came from all walks of life. Many were avid comic book fans who had eagerly awaited the midnight premiere of 'The Dark Knight Rises.' The victims ranged in age from six-year-old Veronica Moser-Sullivan, who had just learned how to swim, to 51-year-old Gordon Cowden. Most were in their 20s. ...


Former Stanford executive says in limbo as SEC case drags

Posted: 22 Jul 2012 11:04 AM PDT

WASHINGTON (Reuters) - Bernerd Young has waited more than two years for a final decision from U.S. securities regulators about whether he will be charged over his role as compliance officer at the brokerage owned by convicted Ponzi schemer Allen Stanford. In those two years, Young says his life has been put on hold as the cloud of the Securities and Exchange Commission probe has overshadowed his attempts to move on professionally. ...

Analysis: Shoppers may be spared worst of corn price surge

Posted: 22 Jul 2012 01:13 PM PDT

A shopper walks down an aisle in a newly opened Walmart Neighborhood Market in ChicagoNEW YORK (Reuters) - Grain prices are soaring as the Midwest corn belt suffers its worst drought since 1956, but that doesn't mean grocery bills are about to jump. Easing costs of other commodities, hedging strategies aimed at keeping corn costs in line and fears of turning off consumers in a weak economy should all keep packaged food companies from hiking prices, at least in the short term. "The spike is isolated, and thank goodness it is, because these companies have no room for pricing," said Edward Jones analyst Jack Russo. ...


Lightning sparks Nebraska wildfire amid drought

Posted: 22 Jul 2012 12:08 PM PDT

OMAHA, Nebraska (Reuters) - A wildfire sparked by lightning strikes in tinder-dry rangeland swept through a remote village and has burned about 150 square miles (388 square km) in north-central Nebraska. The Fairfield Creek Fire burned out of control along a 7-mile (11-km) front during the weekend in the drought-stricken region and was moving faster than fire lines could be established in pine-clad canyons and extensive grasslands along the Niobrara River, fire officials said Sunday. The blaze is only the latest complication for the farmbelt, which is already suffering from the worst U.S. ...

Green fleet upstarts make conventional Washington moves

Posted: 22 Jul 2012 04:08 AM PDT

WASHINGTON (Reuters) - Two companies involved on the ground level of an expensive Pentagon effort to embrace biofuels have used familiar strategies in building their profiles in Washington, using hefty campaign contributions and aggressive lobbying to secure support. One company, Solazyme Inc, a subcontractor on a $12 million alternative fuels contract from the Navy, also has raised its Washington profile by hiring as strategic advisers former senior Clinton administration officials with close ties to the Pentagon or Department of Energy, according to corporate records. ...

Obama visits Colorado, tries to comfort shooting spree victims

Posted: 22 Jul 2012 07:10 PM PDT

Crosses are seen at a memorial for victims behind the theater where a gunman opened fire on moviegoers in AuroraAURORA, Colo. (Reuters) - President Barack Obama on Sunday traveled to Colorado and offered hope and comfort to victims of the gunman who killed 12 people and wounded 58 in a Denver-area movie theater. The shooting spree early on Friday shocked the nation and dominated the news. Obama met privately with the families of victims and said he had listened to stories about those who were killed and those who risked their lives to help others. ...


Fed official highlights benefits of flexible QE: FT

Posted: 22 Jul 2012 06:31 PM PDT

LONDON (Reuters) - An open-ended round of quantitative easing that could be adjusted to suit economic conditions should be considered if the Fed launches a fresh round of monetary stimulus, a top policy official in the Federal Reserve said in an interview with the Financial Times. There is "pretty significant" downside risks to the U.S. economy from the euro zone crisis, John Williams, president of the Federal Reserve Bank of San Francisco, said in an interview with the Financial Times on Monday. ...

Penn State facing severe NCAA sanctions, removes Paterno statue

Posted: 22 Jul 2012 03:29 PM PDT

A worker puts up tarps on a temporary fence around the statue of the late Penn State football coach Joe Paterno before removing the statue outside Beaver Stadium in State College PennsylvaniaSTATE COLLEGE, Pennsylvania (Reuters) - Penn State University braced for potentially crippling sanctions against its football program for covering up former assistant coach Jerry Sandusky's sexual abuse of children, hours after it took down its statue of coach Joe Paterno for his role in the scandal. The National Collegiate Athletic Association said on Sunday it would announce punitive measures against the school on Monday, and could levy the so-called death penalty that would eliminate an entire season or more for the scandal-scarred football program. ...


Shooting victims brought together by love of comics

Posted: 22 Jul 2012 12:47 PM PDT

A photo of Alex Sullivan is seen at a memorial site for victims behind the theater where the shooting occurred in Aurora(Reuters) - They included a sandwich maker, a cryptography expert, college students and a property appraiser. Some loved wrestling, others sportscasting, or visiting the zoo. The 12 people killed early on Friday morning in a multiplex in Aurora, Colorado, came from all walks of life. Many were avid comic book fans who had eagerly awaited the midnight premiere of 'The Dark Knight Rises.' The victims ranged in age from six-year-old Veronica Moser-Sullivan, who had just learned how to swim, to 51-year-old Gordon Cowden. Most were in their 20s. ...


Analysis: Shoppers may be spared worst of corn price surge

Posted: 22 Jul 2012 01:13 PM PDT

A shopper walks down an aisle in a newly opened Walmart Neighborhood Market in ChicagoNEW YORK (Reuters) - Grain prices are soaring as the Midwest corn belt suffers its worst drought since 1956, but that doesn't mean grocery bills are about to jump. Easing costs of other commodities, hedging strategies aimed at keeping corn costs in line and fears of turning off consumers in a weak economy should all keep packaged food companies from hiking prices, at least in the short term. "The spike is isolated, and thank goodness it is, because these companies have no room for pricing," said Edward Jones analyst Jack Russo. ...


Lightning sparks Nebraska wildfire amid drought

Posted: 22 Jul 2012 12:08 PM PDT

OMAHA, Nebraska (Reuters) - A wildfire sparked by lightning strikes in tinder-dry rangeland swept through a remote village and has burned about 150 square miles (388 square km) in north-central Nebraska. The Fairfield Creek Fire burned out of control along a 7-mile (11-km) front during the weekend in the drought-stricken region and was moving faster than fire lines could be established in pine-clad canyons and extensive grasslands along the Niobrara River, fire officials said Sunday. The blaze is only the latest complication for the farmbelt, which is already suffering from the worst U.S. ...

R&B star Usher's former stepson dies from boating mishap injuries

Posted: 22 Jul 2012 10:20 AM PDT

NEW YORK (Reuters) - Kile Glover, the 11-year-old former stepson of Grammy-award winning R&B star Usher, died on Saturday of injuries received in a boating accident more than two weeks ago. Glover died on Saturday morning, the Willie A. Watkins funeral home in Atlanta said. "We are handling the arrangements," an employee at the funeral home said. Glover, the son of Usher's ex-wife Tameka Foster, was on a raft on Lake Lanier in Georgia on July 6 when it collided with another watercraft. He sustained a brain injury and had been treated at an Atlanta hospital. ...

NCAA says will punish Penn State as Paterno statue removed

Posted: 22 Jul 2012 09:47 AM PDT

(Reuters) - The National Collegiate Athletic Association on Sunday said it would announce "corrective and punitive measures" for Penn State University on Monday in the aftermath of the child sex abuse scandal involving a former Penn State assistant football coach that has rocked the university and major U.S. college football. The announcement from the NCAA, the governing body for U.S. collegiate sports, came as Penn State workers removed a statue of the late Joe Paterno, the legendary coach for the Penn State Nittany Lions football team who was fired last year as a result of the scandal. ...

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