Thursday, January 3, 2013

Pension bonds add risk to public retiree crisis

Pension bonds add risk to public retiree crisis

Pension bonds add risk to public retiree crisis

Posted: 03 Jan 2013 12:37 PM PST

FILE - In this Oct. 13, 2011 file photo, Oakland Mayor Jean Quan gestures during a news conference at Oakland City Hall in Oakland, Calif. The city of Oakland took a big risk this year when it decided to borrow nearly $213 million to cover pensions owed to its retired police and firefighters. Rather than laying off more staff or reducing library services, leaders in this Northern California port city are betting that the stock market will improve. (AP Photo/Paul Sakuma, File)SACRAMENTO, Calif. (AP) — Oakland's city leaders took a risk when, rather than lay off more staff or cut services, they decided to borrow nearly $213 million to cover pension payments owed to retired city workers. They're betting that the pension fund's investments will earn more than the cost of issuing pension obligation bonds.

Retailers report higher December sales

Posted: 03 Jan 2013 12:37 PM PST

In this Thursday, Dec. 20, 2012, photo, a holiday shopper walks past a large Christmas tree at Fashion Island shopping center in Newport Beach, Calif. A last-minute surge in spending helped many major U.S. retailers report better-than-expected sales in December, a relief for stores that make up to 40 percent of annual revenue during the holiday period. (AP Photo/Chris Carlson)NEW YORK (AP) — A last-minute surge in spending saved the holiday shopping season.

Lawsuit alleges horses mistreated on HBO's 'Luck'

Posted: 03 Jan 2013 12:34 PM PST

In this image released by HBO, horses race in a scene from the HBO original series "Luck." The former director of the American Humane Association's Film and Television Unit sued HBO and the group on Monday, Dec. 31, 2012, claiming she was fired for complaining about the use of drugged, sick and underweight horses on the show "Luck." (AP Photo/HBO, Gusmano Cesaretti)LOS ANGELES (AP) — Several of the horses used on HBO's canceled series "Luck" were drugged, underweight and sick during production, an animal rights worker who oversaw conditions on the show alleges in a lawsuit.

Formal charges filed in death of Arkansas girl

Posted: 03 Jan 2013 12:31 PM PST

LITTLE ROCK, Ark. (AP) — A prosecutor filed formal charges this week against an Arkansas man accused of raping and killing his 6-year-old neighbor who had been a victim in a prior abuse case.

School starts at new building for Sandy Hook kids

Posted: 03 Jan 2013 12:30 PM PST

A bus traveling from Newtown, Conn., to Monroe stops in front of 26 angels along the roadside on the first day of classes for Sandy Hook Elementary School students since the Dec. 14 shooting, in Monroe, Conn., Thursday, Jan. 3, 2013. Chalk Hill School in Monroe was overhauled especially for the students from the Sandy Hook School shooting. (AP Photo/Jessica Hill)MONROE, Conn. (AP) — For her son's first day of school since last month's massacre at his Sandy Hook Elementary, Sarah Caron tried to make Thursday as normal as possible. She made his favorite pancakes, and she walked the second-grader to the top of the driveway for the school bus.

Oil ends lower as budget deal cheers fade

Posted: 03 Jan 2013 12:28 PM PST

NEW YORK (AP) — The price of oil drifted lower Thursday as euphoria over a U.S. budget deal cooled and traders focused on bulging crude supplies and lackluster demand.

Martian rock from Sahara desert unlike others

Posted: 03 Jan 2013 12:25 PM PST

This image provided Carl Agee, University of New Mexico, shows a rock from Mars that landed in the Sahara Desert. An examination of the Martian meteorite known as NWA 7034 determined it is 2.1 billion years old and is water-rich. (AP Photo/University of New Mexico, Carl Agee)LOS ANGELES (AP) — Scientists are abuzz about a coal-colored rock from Mars that landed in the Sahara desert: A yearlong analysis revealed it's quite different from other Martian meteorites.

Depardieu, in tax fight, gets Russian citizenship

Posted: 03 Jan 2013 12:24 PM PST

FILE - In this Saturday, Dec. 11, 2010 file photo Russian Prime Minister Vladimir Putin, right, and French actor Gerard Depardieu, left, attend the Russian Museum, in St. Petersburg. Gerard Depardieu, the French actor who has been sparring with his native country over taxes, has been granted Russian citizenship. A brief announcement on the Kremlin website said President Vladimir Putin signed the citizenship grant on Thursday Jan. 3, 2013. (AP Photo/RIA Novosti, Alexei Nikolsky, Pool)MOSCOW (AP) — The Kremlin has cast Gerard Depardieu in one of the most surprising roles of his life — as a new Russian citizen.

Fed minutes show some concerns on bond purchases

Posted: 03 Jan 2013 12:23 PM PST

FILE - In this Wednesday, Dec. 12, 2012 file photo, Federal Reserve Chairman Ben Bernanke speaks during a news conference at the Federal Reserve Board in Washington. Federal Reserve policymakers expressed broad support in December 2012 for the Fed's plan to buy bonds to support the U.S. economy. But they differed over how long to keep buying bonds to drive down long-term interest rates. Minutes of the Fed's December policy meeting show that some of the 12 voting members thought the bond purchases would be warranted through the end of 2013. (AP Photo/Manuel Balce Ceneta, File)WASHINGTON (AP) — Federal Reserve policymakers expressed broad support last month for the Fed's plan to buy bonds to support the U.S. economy. But they differed over how long to keep buying bonds to drive down long-term interest rates.

FTC ends long Google probe with mild reprimand

Posted: 03 Jan 2013 12:21 PM PST

A neon Google logo is seen as employees work at the new Google office in TorontoWASHINGTON (Reuters) - U.S. regulators closed a long-running investigation into allegations that Google tweaks search results to hurt rival companies without finding any wrongdoing, a decision that disappointed rivals and critics of the Web search giant. The Federal Trade Commission did, however, win promises from Google that it would end the practice of "scraping" reviews and other data from rivals' websites for its own products, and to allow advertisers to export data to independently evaluate advertising campaigns, the FTC said on Thursday. ...

Aggies quickly renews Oklahoma rivalry in Cotton

Posted: 03 Jan 2013 12:21 PM PST

Texas A&M quarterback Johnny Manziel (2) talks to reporters during media day for the Cotton Bowl Classic NCAA college football game at Cowboys Stadium, Sunday, Dec. 30, 2012, in Arlington, Texas. Oklahoma and Texas A&M are scheduled to play on Jan. 4, 2013. (AP Photo/LM Otero)ARLINGTON, Texas (AP) — Spencer Nealy and some of his Texas A&M teammates were discussing potential bowl games even before their first SEC season began.

Google settles on patents, other antitrust claims

Posted: 03 Jan 2013 12:21 PM PST

Federal Trade Commission (FTC) Chairman Jon Leibowitz speaks during a news conference at FTC in Washington, Thursday, Jan. 3, 2013, to announce that Google is agreeing to license certain patents to mobile phone rivals and stop a practice of including snippets from other websites in its search results as part of a settlement to end a 19-month investigation in the search leader's business practices. ( AP Photo/Jose Luis MaganaSAN FRANCISCO (AP) — Google is pledging to license hundreds of key patents to mobile computing rivals under more reasonable terms and to curb the use of snippets from other websites in Internet search results in a settlement that ends a high-profile antitrust probe.

US drones kill senior Taliban figure in Pakistan

Posted: 03 Jan 2013 12:20 PM PST

ALTERNATE CROP - In this April, 20, 2007 file photo, Pakistani militant commander Maulvi Nazir meets his associates in South Waziristan, Pakistan near the Afghani border. Five Pakistani security officials said the commander, Nazir, was reportedly among nine people killed in a missile strike on a house in the village of Angoor Adda in the South Waziristan tribal region early Thursday. The officials spoke on condition of anonymity because they were not authorized to brief the media. (AP Photo/Ishtiaq Mahsud)ISLAMABAD (AP) — An American drone strike in Pakistan has killed a top Taliban commander who sent money and fighters to battle the U.S. in Afghanistan but had a truce with the Pakistani military, officials said Thursday.

Why car sales are strong in the US

Posted: 03 Jan 2013 12:19 PM PST

DETROIT (AP) — U.S. auto sales hit a five-year high in 2012, as low interest rates, improving consumer confidence and — most important — some great new cars drew Americans into dealerships.

Plot spoilers pose 'Downton Abbey' challenge

Posted: 03 Jan 2013 12:19 PM PST

This undated publicity photo provided by PBS shows Maggie Smith as the Dowager Countess, left, and Shirley MacLaine as Martha Levinson from the TV series, "Downton Abbey." The third season premiere airs in the U.S. on Sunday, Jan. 6, 2013 on PBS. (AP Photo/PBS, Carnival Film & Television Limited 2012 for MASTERPIECE, Nick Briggs)LOS ANGELES (AP) — There are many delicious reasons to watch the returning "Downton Abbey" and an exasperating one to skip it: The cover's been blown on major plot twists.

Red states, too, get health care nod from Obama

Posted: 03 Jan 2013 12:18 PM PST

WASHINGTON (AP) — Injecting a rare shot of bipartisanship in the nation's contentious health care overhaul, the Obama administration Thursday cleared four Republican-led states to build their own consumer-friendly insurance markets.

Rare San Francisco river otter stumps researchers

Posted: 03 Jan 2013 12:17 PM PST

SAN FRANCISCO (AP) — For the first time in decades, a river otter has made San Francisco its home, taking up residence in the ruins of a 19th century seaside bath facing the Pacific Ocean.

Clinton resting, plans to return to the office next week

Posted: 03 Jan 2013 12:11 PM PST

U.S. Secretary of State Hillary Clinton leaves New York Presbyterian Hospital with husband, Bill, and daughter, Chelsea, in New YorkWASHINGTON (Reuters) - Secretary of State Hillary Clinton is resting at home in New York after being treated for a blood clot and plans to return to her office next week, the State Department said on Thursday. Clinton, 65, has suffered a series of ailments over the last month including a stomach virus, a concussion and a blood clot in a vein behind her right ear. She was released from New York Presbyterian Hospital on Wednesday after a stay of several days during which she was given blood thinners to treat the clot. Her doctors have said they expect her to make a full recovery. ...

Feds crack alleged narwhal tusk-smuggling ring

Posted: 03 Jan 2013 12:10 PM PST

FILE- In this August 2005 file photo provided by the National Oceanic and Atmospheric Administration, a pod of narwhals surfaces in northern Canada. Officials say they have broken up a smuggling ring in which narwhal tusks from the Canadian Artic were brought to Maine in a trailer with a secret compartment and then illegally sold to American buyers. Andrew Zarauskus, of Union, N.J., and Jay Conrad, of Lakeland, Tenn., will be arraigned in Bangor, Maine, next week on federal smuggling and money laundering charges. (AP Photo/Kristin Laidre, NOAA, files)PORTLAND, Maine (AP) — A smuggling ring brought narwhal tusks from the Canadian Artic into Maine in a trailer with a secret compartment and then illegally sold them to American buyers, officials said.

Jones, Te'o, 2 of college football's good guys

Posted: 03 Jan 2013 12:09 PM PST

FILE - In this Oct. 20, 2012, file photo, Notre Dame linebacker Manti Te'o chases the action during the second half of an NCAA college football game against the BYU in South Bend, Ind. Alabama's Barrett Jones and Notre Dame's Te'o are All-Americans and national award winners. They're also fine students who emphasize faith and postponed big money from the NFL to stay in school.(AP Photo/Michael Conroy, File)FORT LAUDERDALE, Fla. (AP) — Alabama center Barrett Jones was hobbling toward the plane, awkwardly clutching crutches and a bag when a helping hand reached out.

House re-elects Boehner speaker

Posted: 03 Jan 2013 12:06 PM PST

House Speaker John Boehner of Ohio, enters the House of Representatives chamber, on Capitol Hill in Washington, Thursday, Jan. 3, 2013, after surviving a roll call vote in the newly convened 113th Congress. He is escorted by House Majority Leader Eric Cantor of Va., House Minority Leader Nancy Pelosi of Calif., House Majority Whip Kevin McCarthy of Calif., and House Minority Whip Steny Hoyer of Md. (AP Photo/J. Scott Applewhite)WASHINGTON (AP) — The House and Senate ushered in a new Congress Thursday, re-electing embattled Republican John Boehner as speaker and hailing one of their own who returned a year after being felled by a stroke.

AP Source: Reid, Chiefs nearing deal to be coach

Posted: 03 Jan 2013 12:05 PM PST

Philadelphia Eagles head coach Andy Reid, right, shakes hands with New York Giants head coach Tom Coughlin after an NFL football game, Sunday, Dec. 30, 2012, in East Rutherford, N.J. The Giants won 42-7. (AP Photo/Bill Kostroun)KANSAS CITY, Mo. (AP) — Andy Reid was in deep negotiations with the Kansas City Chiefs to become their next coach, a person familiar with the situation told The Associated Press on Thursday.

US job market resilient despite budget fight

Posted: 03 Jan 2013 12:04 PM PST

In this Wednesday, Dec. 12 2012 photo a job seeker leaves his contact information with a potential employer during a job fair in New York. More Americans sought unemployment benefits in the last week of 2012, though the winter holidays likely distorted the data for the second straight week. (AP Photo/Mary Altaffer)WASHINGTON (AP) — The U.S. job market is looking more resilient and may withstand a budget battle in Washington that threatens to create more uncertainty for the economy in the coming months.

Feds, Transocean reach $1.4B deal over Gulf spill

Posted: 03 Jan 2013 11:59 AM PST

NEW ORLEANS (AP) — The Justice Department reached a $1.4 billion settlement Thursday with Transocean Ltd., the owner of the drilling rig that sank after an explosion killed 11 workers and spawned the massive 2010 oil spill in the Gulf of Mexico.

Nearly 1 year after stroke, Kirk returns to Senate

Posted: 03 Jan 2013 11:58 AM PST

WASHINGTON (AP) — Nearly a year after suffering a debilitating stroke, Sen. Mark Kirk walked the 45 steps up the Capitol on Thursday and reclaimed his seat in the U.S. Senate on the first day of the 113th Congress.

Google chairman heading to North Korea

Posted: 03 Jan 2013 11:57 AM PST

FILE - In this Sept. 28, 2012 file photo, Google executive chairman Eric Schmidt arrives for a seminar at Yonsei University in Seoul, South Korea. Schmidt is preparing to travel to one of the last frontiers of cyberspace: North Korea. He will be traveling to North Korea on a private trip led by former New Mexico Gov. Bill Richardson that could take place as early as this month, sources told The Associated Press on Wednesday, Jan. 2, 2013. The sources, two people familiar with the group's plans, asked not to be named because the visit had not been made public. (AP Photo/Lee Jin-man, File)SEOUL, South Korea (AP) — When he lands in North Korea, even Google's executive chairman will likely have to relinquish his smartphone, leaving him disconnected from the global information network he helped build.

House chooses Boehner as speaker again

Posted: 03 Jan 2013 11:54 AM PST

Boehner at the 113th Congress in WashingtonWASHINGTON (Reuters) - Despite a rocky few weeks during the "fiscal cliff" fight, John Boehner won re-election as speaker of the House of Representatives on Thursday and will lead Republicans as they take on the White House over federal spending. Boehner beat Democratic Minority Leader Nancy Pelosi by 220-192 in the speakership vote on the first day of a new Congress. A possible rebellion against Boehner from conservatives upset at his handling of the fiscal crisis never emerged and only a handful of Republicans voted against him. ...

Stricker headed for semi-retirement

Posted: 03 Jan 2013 11:54 AM PST

Steve Stricker tees off on the first hole during a pro-am round at the Tournament of Champions golf tournament, Thursday, Jan. 3, 2013, in Kapalua, Hawaii. When he arrived on the shores of Maui for the season-opening Tournament of Champions, he had reached a compromise. Stricker, who turns 46 next month, is going into semi-retirement. When he leaves Kapalua, he won't return again until the Match Play Championship at the end of February. (AP Photo/Elaine Thompson)KAPALUA, Hawaii (AP) — At the end of another long year, and only a month away from the start of another season, Steve Stricker quietly posed a question that sounded out of place for a guy with more than $25 million in PGA Tour earnings over the last six years.

US auto sales: key trends in 2012

Posted: 03 Jan 2013 11:54 AM PST

DETROIT (AP) — U.S. auto sales hit a five-year high in 2012, as low interest rates, improving consumer confidence and — most important — some great new cars drew Americans into dealerships.

Private sector job gains offer hope for labor market

Posted: 03 Jan 2013 11:52 AM PST

Job seekers stand in line to meet prospective employers at a career fair in New York CityWASHINGTON (Reuters) - Private-sector employers shrugged off a looming budget crisis and stepped up hiring in December, offering further evidence of underlying strength in the economy as 2012 ended. While other data on Thursday showed an increase in the number of Americans filing new claims for unemployment benefits, the trend remained consistent with steady job growth. "The underlying economy has momentum, and the employment data confirms that. The hope and prayer of the market is that our political leaders don't screw it up," said John Brady, managing director at R.J. ...

No leaks detected from grounded Shell drill barge

Posted: 03 Jan 2013 11:52 AM PST

A salvage team moves an emergency towing system across the deck of petroleum drilling ship Kulluk in this photo made Wednesday, Jan. 2, 2013, and provided by the U.S. Coast Guard. There's no indication of a fuel leak from Kulluk, the Coast Guard said Wednesday night, Jan. 2, 2013, of a maritime accident that has refueled debate over oil exploration in the U.S. Arctic Ocean. (AP Photo/U.S. Coast Guard)ANCHORAGE, Alaska (AP) — There's no indication of a fuel leak from a petroleum drilling vessel that ran aground on a remote Alaska island, the Coast Guard said of a maritime accident that has refueled debate over oil exploration in the U.S. Arctic Ocean.

Face of the new Congress

Posted: 03 Jan 2013 11:50 AM PST

House Minority Leader Nancy Pelosi of Calif., front row, center, poses with other female House members on the steps of the House on Capitol Hill in Washington, Thursday, Jan. 3, 2013, prior to the official opening of the 113th Congress . (AP Photo/Cliff Owen)WASHINGTON (AP) — Politically, the 213th Congress that was sworn in Thursday won't be much of a change from the less-than-stellar 212th Congress it replaces: Democrats picked up a few seats in the House and Senate, but the balance of power is unchanged, with Republicans controlling the House and Democrats holding a majority in the Senate.

Stocks edge lower as next fiscal showdown looms

Posted: 03 Jan 2013 11:50 AM PST

In this Monday, Dec. 31, 2012, photo, a trader works on the floor at the New York Stock Exchange in New York. Asian stocks rose Thursday, Jan. 3, 2013 a day after the U.S. reached a deal to stave off the so-called fiscal cliff, but enthusiasm waned by the time European markets opened. (AP Photo/Seth Wenig)NEW YORK (AP) — Stock indexes turned lower Thursday afternoon after the Federal Reserve said its policymakers are split over how long to continue a bond-purchasing program intended to stimulate the economy.

Attorney: Kansas law on sperm donors outdated

Posted: 03 Jan 2013 11:47 AM PST

TOPEKA, Kan. (AP) — Kansas law governing artificial insemination is outdated and fails to recognize modern concepts of family, according to the attorney for a Topeka man being pursued to pay child support for a girl born to a lesbian couple as the result of his sperm donation.

Detroit mom to stay in jail in daughter's death

Posted: 03 Jan 2013 11:47 AM PST

DETROIT (AP) — A not-guilty plea has been entered for a Detroit mother charged with fatally stabbing her daughter three days before the girl's ninth birthday.

Health union alliance could threaten larger rival

Posted: 03 Jan 2013 11:45 AM PST

WASHINGTON (AP) — Two health care unions are joining forces in a move that could threaten a powerful rival's dominance and fuel a new round of labor tensions.

Swiss gunman kills 3 people, had troubled history

Posted: 03 Jan 2013 11:44 AM PST

Policemen investigate the house of the gunman and the shooting scene after a shooting in Daillon, Switzerland, Thursday, Jan. 3, 2013. A man shot and killed three people and wounded another two in the Swiss village, and was then arrested by officers who shot and injured him, police said Thursday. Police in the southern canton (state) of Valais said they were alerted to the shooting in the village of Daillon just before 9 p.m. (20:00GMT) Wednesday. Three of the victims died at the scene and the two injured people were taken to hospitals. A police statement early Thursday gave no detail on their injuries. (AP Photos/Keystone, Laurent Gillieron)GENEVA (AP) — A shooting in southern Switzerland has left three women dead, two men wounded and raised questions about how a troubled suspect was able to go on a rampage with an old military rifle.

Charges dropped in Chicago high-rise jail escape

Posted: 03 Jan 2013 11:44 AM PST

FILE - This undated file photo provided by the FBI shows Joseph "Jose" Banks, 37, one of two inmates who escaped from the Metropolitan Correctional Center in downtown Chicago on Dec. 18, 2012. On Thursday, Jan. 3, 2013, federal prosecutors in Chicago asked a judge to dismiss the escape charges against Banks. The defense offered no objection. Prosecutors say Banks already faces up to 80 years in prison when he is sentenced in March on a bank robbery conviction. They plan to use the escape to argue for a stiffer sentence. (AP Photo/FBI, File)CHICAGO (AP) — A convicted bank robber no longer face charges for climbing out of a high-rise jail in downtown Chicago on a rope made of bed sheets and leading authorities on a two-day manhunt that ended with his capture on the city's North Side.

Lawsuit claims horses mistreated on HBO's "Luck"

Posted: 03 Jan 2013 11:42 AM PST

In this image released by HBO, horses race in a scene from the HBO original series "Luck." The former director of the American Humane Association's Film and Television Unit sued HBO and the group on Monday, Dec. 31, 2012, claiming she was fired for complaining about the use of drugged, sick and underweight horses on the show "Luck." (AP Photo/HBO, Gusmano Cesaretti)LOS ANGELES (AP) — An animal-rights advocate who oversaw working conditions on the canceled HBO series "Luck" has sued the network and the American Humane Association, claiming horses on the show were grossly mistreated.

Utah school stops musical with Elvis songs as racy

Posted: 03 Jan 2013 11:41 AM PST

WEST JORDAN, Utah (AP) — A parent who was "All Shook Up" about Elvis Presley songs in a high-school drama prompted educators to cancel the production, deeming it too sexually suggestive.
Posted by Harshad at 1:02 PM

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)