Rock legends take to New York stage for storm Sandy victims






NEW YORK (Reuters) – Bruce Springsteen, the Rolling Stones and Alicia Keys were among the musical stars headlining an all-star benefit concert for victims of Superstorm Sandy on Wednesday, in what producers promised was “the greatest line-up of legends ever assembled on a stage.”


Organizers said the “12-12-12″ concert at New York‘s Madison Square Garden was being distributed to nearly 2 billion people worldwide through television feeds, radio and online streaming.






“How do I begin again? My city’s in ruins?” Springsteen sang. He was joined by fellow New Jersey native Jon Bon Jovi for “Born to Run,” ushering in a night of musical duets.


Next up, Roger Waters performed alongside Eddie Vedder, and Paul McCartney was due to jam later in the evening with Dave Grohl.


“This has got to be the largest collection of old English musicians ever assembled in Madison Square Garden,” Mick Jagger told the crowd. The Stones performed “You Got Me Rocking” and “Jumpin’ Jack Flash.”


To help with the fundraising, celebrities such as Leonardo DiCaprio, Kristen Stewart, Jake Gyllenhaal, Chelsea Clinton and Billy Crystal took part in a telethon during the concert, which was expected to last four to five hours.


Comedian Adam Sandler took the stage for a Sandy-themed spoof on Leonard Cohen’s “Hallelujah,” rhyming the title with “Sandy, Screw Ya!”


Backstage, actress Susan Sarandon recounted losing power in her New York home but said that was a small hardship compared with the real victims who lost their homes.


Steven Van Zandt, guitarist of the E Street Band, scolded “the oil companies” and “Wall Street guys” for not doing more to help.


“Even with the music business not what it used to be … we are proud to be here,” he said.


Before the concert, producer John Sykes said $ 32 million had already been raised from ticket sales and sponsorships. Organizers are hoping to raise tens of millions more.


It was being broadcast live on television, radio, movie theaters, on Facebook and iHeartRadio, and streamed on digital billboards in New York‘s Times Square, London and Paris.


EXPANDING FUNDRAISING’S REACH


More than 130 people were killed when Sandy pummeled the East Coast of the United States in October. Thousands more were left homeless as the storm tore through areas of New York, New Jersey and Connecticut, causing billions of dollars in damage.


Throughout the show, celebrities shared memories of growing up in New York City or the Jersey Shore, and offered shout-outs to first responders.


“Watching my hometown get pummeled was devastating to watch,” said actor-comedian Crystal, who grew up on Long Beach, Long Island. “It’s a helpless feeling of what’s in store for us maybe in the future.”


Sykes was also involved with “The Concert for New York City” after the September 11, 2001, attacks, which raised more than $ 30 million for charity.


He said technological advances over the past decade had exponentially changed the reach of fundraising.


“We have both traditional and new media behind us in a way that we’ve never had before, and that is really going to be the ‘x-factor’ on how much money we can raise for the victims,” he said.


Donations raised from the concert produced by Clear Channel Entertainment and the Weinstein Co, will go to the Robin Hood Relief Fund, which will provide money and materials to groups helping people hardest hit by the storm.


(Additional reporting by Piya Sinha-Roy; Editing by Jill Serjeant, Patricia Reaney and Peter Cooney)


Music News Headlines – Yahoo! News


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‘How to Survive a Plague’ Provides a Silver Lining on AIDS


Stephanie Diani for The New York Times


The director David France in Los Angeles last week.







LAST Wednesday night, David France, the director of the documentary “How to Survive a Plague,” made his way to the Open Society Institute in Columbus Circle for a question-and-answer session and a screening of his film, which is about the early years of the AIDS epidemic. Afterward, he was mobbed by well-wishers and advice-seekers.




First came a woman named Naomi Schegloff, who explained that she was a director of a project called the Graying of AIDS, aimed at helping older people with H.I.V. “Can we do the card-trade thing?” she asked Mr. France, who was wearing a gray blazer over a sweater and a pair of jeans.


Of course they could.


Next up was a man in his 50s, who said he was making a self-financed film about “cannabis prohibition” and “the war on drugs.”


“Your piece is fabulous,” the man said, before requesting a card exchange as well. “Really important.”


After that was another fellow who wanted to take the movie to South Africa to screen for local activists and people working in medical care, and suggested the third weekend in February.


“That sounds good,” said Mr. France, 53, before correcting himself.


“So we know we’re busy on the 23rd,” he said. “We’re hoping we’re going to be busy on the 24th, too.”


After all, that is Oscars weekend, perhaps the culmination of an already-heady awards season.


First came prizes from the Gotham Independent Film Awards and the Boston Society of Film Critics, both of which recently voted “How to Survive” the best documentary of 2012.


Then, on Nov. 27, Mr. France received word that the Independent Spirit Awards, given out the day before the Oscars, had nominated his film for Best Documentary. On Dec. 3, the documentary wing of the Academy of Motion Picture Arts and Sciences announced that the film had made its shortlist as well, pulling in front of roughly 100 other eligible films and now in contention with 14 filmmakers for the coveted 5 slots. (The final list of nominees will be announced in January.)


Pretty good, given that until fairly recently, Mr. France’s main connection to the entertainment industry was via his partner of 18 years, Jonathan Starch, a producer at “Law & Order: SVU.”


But in 2008, Mr. France wrote a jaw-dropping piece for New York magazine about a promising young doctor named Gabriel Torres, who ran the AIDS ward at St. Vincent’s Manhattan Hospital for much of the ’90s, then descended into drug addiction shortly after antiretrovirals came onto the market.


In the article, Mr. France found not an anomaly, but a textbook case of a person who had battled the worst years of the epidemic, only to find himself lost and confused about where to go and what to do once the crisis abated.


“I think just about everybody who lived through that is wounded,” said Mr. France, smoking a cigarette and walking over to a bar in the Hudson Hotel for a chat after the crowd at the Open Society Institute dispersed. “It’s especially true of the people who were on the medical front lines. Because the work they were doing was life and death.”


Moreover, to Mr. France’s additional dismay, little credit had been given to the activists who worked tirelessly throughout the ’80s and early ’90s, in many cases laying down in the streets to try to bring attention and money to the disease.


So he set out with a small film crew and began collecting video footage from the era. He also met with more than a dozen prominent activists and veterans of the movement who appear in the film, which charts the journey of the disease from the first days, when a rare skin cancer called Kaposi’s sarcoma began mysteriously appearing on the bodies of gay men all over New York, until the advent of antiretrovirals 15 years later.


Among those interviewed are Larry Kramer, the playwright and co-founder of the Gay Men’s Health Crisis; David Barr, a founding member of the Treatment Action Group and the Act Up/New York Treatment and Data Committee; Anthony Fauci, the head of the National Institute of Allergy and Infectious Diseases; and Garance Franke-Ruta, who helped found Countdown 18 Months, a group that pressured pharmaceutical companies to speed up the process of developing AIDS drugs.


“I think it’s very difficult for anything to capture the awfulness of those years, but this movie comes close,” said Ms. Franke-Ruta, now an editor at The Atlantic.


Then, when the film was done and edited, Mr. France took it to Sundance, where buzz followed almost immediately.


As the fledgling filmmaker tells it, he could not save those who had fallen, but he at least thought he could honor them. And certainly, Mr. France knew their stories well. He came to New York in 1981 from Kalamazoo, Mich., which at the time was hostile to gay men and lesbians, he said. Then, within a week of his arrival and move to the East Village, the first report of AIDS hit the pages of this newspaper.


“I came to New York to be free, and that’s what met me,” said Mr. France, now sitting in the bar and sipping a glass of wine.


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Snow-making at ski resorts goes high tech









Mother Nature has been a fickle manager of snowfall lately, sending an avalanche of powder to ski resorts across the country two years ago, followed by the least amount of snowfall in decades last winter.


A scattering of storms has already swept through the West this winter, but it's too early to tell if this season will be a snowy success or another dry disappointment.


But ski resort managers are losing less sleep over erratic weather conditions after making a flurry of investments over the last few years in ultra-efficient, computerized snow-making equipment.





Once powered by diesel air compressors and monitored by workers on snowmobiles, today's snow-making systems rely on computers, fiber-optic cables and low-energy fans that can be controlled by smartphone or programmed to automatically make snow when conditions are prime.


The good news for powder hounds is that the frozen spray generated by modern snow-making equipment is so close to real snow that even veteran skiers can't tell the difference.


"If I'm going down a run, I can't tell you if I just skied on natural or man-made snow," said Bruce Lee, a Redondo Beach resident who has been skiing for 30 years in Vermont, Pennsylvania, Utah, Colorado and California. "I'll bet no one can tell the difference."


Video chat: Tahoe ski resorts get a makeover


Investments in snow making have been especially crucial in California, where snowfall has always been particularly unreliable. The state is home to 29 resorts that generate an estimated $1.3 billion in spending a year.


Last year's ultra-dry season only reinforced the value of artificial snow-making systems. The 2011-12 season marked the lowest national average snowfall in 20 years, forcing half of the nation's resorts to either open late or close early.


The National Resources Defense Council estimates that ski resorts lost $1 billion in revenue because of meager snowfall over the last decade.


Resort operators that had already invested heavily -n snow-making equipment said man-made snow helped them avoid a complete bust.


"For us, the reaction to last year was 'Thank God we've done what we did in the past,'" said Pete Sonntag, general manager at Lake Tahoe's Heavenly ski resort, where 155 snow-making machines can cover 65% of the resort's skiable terrain.


Heavenly's snow-making system — the largest on the West Coast — can be controlled from a desktop computer at a pump house on the mountain or a smartphone carried by Barrett Burghard, the resort's senior manager for snow surfaces.


"I'm not going to lie and say we can make snow as good as Mother Nature," Burghard said as he glanced at a computer screen to check the water levels in the resort's storage tanks. "But it's close."


The best man-made snow, he said, is light and can be pressed into a snowball without oozing water.


He has another, very unscientific method for testing his machine-spewed snow: He tosses it against his arm to see how it bounces off his sleeve. "There's an art to making snow," Burghard said.


In the past, snow-making was a labor-intensive task that involved teams of workers taking temperature and humidity readings throughout the night.


If the conditions were right for snow-making, workers would ride snowmobiles up the mountains to switch on snow guns, which were often powered by diesel air compressors and connected to high-pressure air and water hoses bordering ski runs.


But temperatures at different spots on a mountain can vary by several degrees, making it difficult for resort operators to gauge when and where to activate the snow guns.


Modern snow-making guns use less energy than older systems, relying on a combination of portable compressors and energy-efficient fans.





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3 dead, including gunman, in Portland, Ore., mall shooting












A masked gunman wearing camouflage opened fire Thursday in a busy Portland mall, leaving the gunman and two others dead and forcing the mall's Santa Claus and hundreds of Christmas shoppers and employees to flee or hide among store displays.

Austin Patty, 20, who works at Macy's, said he saw a man in a white mask carrying a rifle and wearing a bulletproof vest. He heard the gunman say, "I am the shooter," as if announcing himself. A series of rapid-fire shots in short succession followed as Christmas music played. Patty said he ducked to the ground and then ran.









His Macy's co-worker, Pam Moore, told The Associated Press the gunman was short, with dark hair. Witnesses said he started firing just outside Macy's in the food court of Clackamas Town Center.

Brance Wilson, the mall Santa, said he heard gunshots and dove for the floor. By the time he looked up, seconds later, everyone around him had cleared out. Merchandise was scattered in some stores as he made his way to the door.

"Santa will be back," Wilson said. "It's not going to keep Santa away from the mall."

Police said they have tentatively identified the gunman but would not release his name or give any information on a possible motive. Officials said a woman was also shot and was in serious condition at a Portland hospital.

"We have a young lady in the hospital fighting for her life right now," Clackamas County Sheriff Craig Roberts at a news conference late Tuesday.

Clackamas Town Center is one of the Portland area's biggest and busiest malls, with 185 stores and a 20-screen movie theater. It would remain closed at least through Wednesday, Roberts said.

Shaun Wik, 20, from Fairview, said he was Christmas shopping with his girlfriend and opened a fortune cookie at the food court. Inside was written: "Live for today. Remember yesterday. Think of tomorrow."

As he read it, he heard three shots. He heard a man he believes was the gunman shout, "Get down!" but Wik and his girlfriend ran. He heard seven or eight more shots. He didn't turn around.

"If I had looked back, I might not be standing here," Wik said. "I might have been one of the ones who got hit."

Kira Rowland told KGW-TV that she was shopping at Macy's with her infant son when the shots started.

"All of a sudden you hear two shots, which sounded like balloons popping," Rowland told the station. "Everybody got on the ground. I grabbed the baby from the stroller and got on the ground."

Rowland said she heard people screaming and crying.

"I put the baby back in the stroller and ran," Rowland said.

Holli Bautista, 28, said she was shopping at Macy's for a Christmas dress for her daughter when she heard pops that sounded like firecrackers.

"I heard people running and screaming and saying 'Get out, there's somebody shooting,'" she told the AP.

She said hundreds of shoppers and mall employees started running, and she and dozens of other people were trying to escape through a department store exit.

Tiffany Turgetto and her husband were leaving Macy's through the first floor when they heard gunshots coming from the second floor of the mall. They were able to quickly leave through a Barnes & Noble bookstore before the police arrived and locked down the mall.

"I had left my phone at home. I was telling people to call 911. Surprisingly, people are around me, no one was calling 911. I think people were in shock."



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Panasonic may sell Sanyo digital camera business: source






TOKYO (Reuters) – Panasonic Corp may sell its Sanyo digital camera business to Japanese private equity fund Advantage Partners by the end of March, a source familiar with the plan said.


A final decision on the sale will be made by the end of the year, the source said on condition he was not identified.






Advantage Partners will pay several hundreds of millions of yen for the business, which makes digital cameras for other companies, including Olympus Corp, the Nikkei business daily reported earlier.


Panasonic declined to comment saying it had not announced the plan.


The Japanese company aims to sell 110 billion yen ($ 1.34 billion) of assets, including buildings and land by the end of March to boost free cashflow to 200 billion yen for the business year. The company expects an annual net loss of close to $ 10 billion as it writes off billions in deferred tax assets and goodwill.


Panasonic acquired rival Sanyo, a leading maker of lithium ion batteries and solar panels, in 2010. Sales of compact digital cameras are under pressure from increasingly powerful smartphones.


Panasonic’s shares gained as much as 4 percent in early trading in Tokyo, compared with a 0.5 percent rise in the benchmark Nikkei 225 index. ($ 1 = 82.3900 Japanese yen)


(Reporting by Reiji Murai; Writing by Tim Kelly; Editing by Jeremy Laurence)


Gadgets News Headlines – Yahoo! News


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Indian sitar virtuoso Ravi Shankar dies at 92






NEW DELHI (AP) — Ravi Shankar, the sitar virtuoso who became a hippie musical icon of the 1960s after hobnobbing with the Beatles and who introduced traditional Indian ragas to Western audiences over a 10-decade career, died Tuesday. He was 92.


A statement on the musician’s website said he died in San Diego, near his Southern California home. The musician’s foundation issued a statement saying that he had suffered upper respiratory and heart problems and had undergone heart-valve replacement surgery last week.






Indian Prime Minister Manmohan Singh also confirmed his death and called Shankar a “national treasure.”


Labeled “the godfather of world music” by George Harrison, Shankar helped millions of classical, jazz and rock lovers discover the centuries-old traditions of Indian music.


He also pioneered the concept of the rock benefit with the 1971 Concert For Bangladesh. To later generations, he was known as the estranged father of popular American singer Norah Jones.


His last musical performance was with his other daughter, sitarist Anoushka Shankar Wright, on Nov. 4 in Long Beach, California; his foundation said it was to celebrate his 10th decade of creating music. The multiple Grammy winner learned that he had again been nominated for the award the night before his surgery.


As early as the 1950s, Shankar began collaborating with and teaching some of the greats of Western music, including violinist Yehudi Menuhin and jazz saxophonist John Coltrane. He played well-received shows in concert halls in Europe and the United States, but faced a constant struggle to bridge the musical gap between the West and the East.


Describing an early Shankar tour in 1957, Time magazine said. “U.S. audiences were receptive but occasionally puzzled.”


His close relationship with Harrison, the Beatles lead guitarist, shot Shankar to global stardom in the 1960s.


Harrison had grown fascinated with the sitar, a long necked, string instrument that uses a bulbous gourd for its resonating chamber and resembles a giant lute. He played the instrument, with a Western tuning, on the song “Norwegian Wood,” but soon sought out Shankar, already a musical icon in India, to teach him to play it properly.


The pair spent weeks together, starting the lessons at Harrison‘s house in England and then moving to a houseboat in Kashmir and later to California.


Gaining confidence with the complex instrument, Harrison recorded the Indian-inspired song “Within You Without You” on the Beatles’ “Sgt. Pepper’s Lonely Hearts Club Band,” helping spark the raga-rock phase of 60s music and drawing increasing attention to Shankar and his work.


Shankar’s popularity exploded, and he soon found himself playing on bills with some of the top rock musicians of the era. He played a four-hour set at the Monterey Pop Festival and the opening day of Woodstock.


Though the audience for his music had hugely expanded, Shankar, a serious, disciplined traditionalist who had played Carnegie Hall, chafed against the drug use and rebelliousness of the hippie culture.


“I was shocked to see people dressing so flamboyantly. They were all stoned. To me, it was a new world,” Shankar told Rolling Stone of the Monterey festival.


While he enjoyed Otis Redding and the Mamas and the Papas at the festival, he was horrified when Jimi Hendrix lit his guitar on fire.


“That was too much for me. In our culture, we have such respect for musical instruments, they are like part of God,” he said.


In 1971, moved by the plight of millions of refugees fleeing into India to escape the war in Bangladesh, Shankar reached out to Harrison to see what they could do to help.


In what Shankar later described as “one of the most moving and intense musical experiences of the century,” the pair organized two benefit concerts at Madison Square Garden that included Eric Clapton, Bob Dylan and Ringo Starr.


The concert, which spawned an album and a film, raised millions of dollars for UNICEF and inspired other rock benefits, including the 1985 Live Aid concert to raise funds for famine relief in Ethiopia and the 2010 Hope For Haiti Now telethon.


Ravindra Shankar Chowdhury was born April 7, 1920, in the Indian city of Varanasi.


At the age of 10, he moved to Paris to join the world famous dance troupe of his brother Uday. Over the next eight years, Shankar traveled with the troupe across Europe, America and Asia, and later credited his early immersion in foreign cultures with making him such an effective ambassador for Indian music.


During one tour, renowned musician Baba Allaudin Khan joined the troupe, took Shankar under his wing and eventually became his teacher through 7 1/2 years of isolated, rigorous study of the sitar.


“Khan told me you have to leave everything else and do one thing properly,” Shankar told The Associated Press.


In the 1950s, Shankar began gaining fame throughout India. He held the influential position of music director for All India Radio in New Delhi and wrote the scores for several popular films. He began writing compositions for orchestras, blending clarinets and other foreign instruments into traditional Indian music.


And he became a de facto tutor for Westerners fascinated by India’s musical traditions.


He gave lessons to Coltrane, who named his son Ravi in Shankar’s honor, and became close friends with Menuhin, recording the acclaimed “West Meets East” album with him. He also collaborated with flutist Jean Pierre Rampal, composer Philip Glass and conductors Andre Previn and Zubin Mehta.


“Any player on any instrument with any ears would be deeply moved by Ravi Shankar. If you love music, it would be impossible not to be,” singer David Crosby, whose band The Byrds was inspired by Shankar’s music, said in the book “The Dawn of Indian Music in the West: Bhairavi.”


Shankar’s personal life, however, was more complex.


His 1941 marriage to Baba Allaudin Khan‘s daughter, Annapurna Devi, ended in divorce. Though he had a decades-long relationship with dancer Kamala Shastri that ended in 1981, he had relationships with several other women in the 1970s.


In 1979, he fathered Norah Jones with New York concert promoter Sue Jones, and in 1981, Sukanya Rajan, who played the tanpura at his concerts, gave birth to his daughter Anoushka.


He grew estranged from Sue Jones in the 80s and didn’t see Norah for a decade, though they later re-established contact.


He married Rajan in 1989 and trained young Anoushka as his heir on the sitar. In recent years, father and daughter toured the world together.


When Jones shot to stardom and won five Grammy awards in 2003, Anoushka Shankar was nominated for a Grammy of her own.


Shankar, himself, has won three Grammy awards and was nominated for an Oscar for his musical score for the movie “Gandhi.” His album “The Living Room Sessions, Part 1″ earned him his latest Grammy nomination, for best world music album.


Despite his fame, numerous albums and decades of world tours, Shankar’s music remained a riddle to many Western ears.


Shankar was amused after he and colleague Ustad Ali Akbar Khan were greeted with admiring applause when they opened the Concert for Bangladesh by twanging their sitar and sarod for a minute and a half.


“If you like our tuning so much, I hope you will enjoy the playing more,” he told the confused crowd, and then launched into his set.


___


Ravi Nessman reported from Bangkok.


Entertainment News Headlines – Yahoo! News


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Well: Why Afternoon May Be the Best Time to Exercise

Phys Ed

Gretchen Reynolds on the science of fitness.

Does exercise influence the body’s internal clock? Few of us may be conscious of it, but our bodies, and in turn our health, are ruled by rhythms. “The heart, the liver, the brain — all are controlled by an endogenous circadian rhythm,” says Christopher Colwell, a professor of psychiatry at the University of California, Los Angeles’s Brain Research Institute, who led a series of new experiments on how exercise affects the body’s internal clock. The studies were conducted in mice, but the findings suggest that exercise does affect our circadian rhythms, and the effect may be most beneficial if the exercise is undertaken midday.

For the study, which appears in the December Journal of Physiology, the researchers gathered several types of mice. Most of the animals were young and healthy. But some had been bred to have a malfunctioning internal clock, or pacemaker, which involves, among other body parts, a cluster of cells inside the brain “whose job it is to tell the time of day,” Dr. Colwell says.

These pacemaker cells receive signals from light sources or darkness that set off a cascade of molecular effects. Certain genes fire, expressing proteins, which are released into the body, where they migrate to the heart, neurons, liver and elsewhere, choreographing those organs to pulse in tune with the rest of the body. We sleep, wake and function physiologically according to the dictates of our body’s internal clock.

But, Dr. Colwell says, that clock can become discombobulated. It is easily confused, for instance, by viewing artificial light in the evening, he says, when the internal clock expects darkness. Aging also worsens the clock’s functioning, he says. “By middle age, most of us start to have trouble falling asleep and staying asleep,” he says. “Then we have trouble staying awake the next day.”

The consequences of clock disruptions extend beyond sleepiness. Recent research has linked out-of-sync circadian rhythm in people to an increased risk for diabetes, obesity, certain types of cancer, memory loss and mood disorders, including depression.

“We believe there are serious potential health consequences” to problems with circadian rhythm, Dr. Colwell says. Which is why he and his colleagues set out to determine whether exercise, which is so potent physiologically, might “fix” a broken clock, and if so, whether exercising in the morning or later in the day is more effective in terms of regulating circadian rhythm.

They began by letting healthy mice run, an activity the animals enjoy. Some of the mice ran whenever they wanted. Others were given access to running wheels only in the early portion of their waking time (mice are active at night) or in the later stages, the equivalent of the afternoon for us.

After several weeks of running, the exercising mice, no matter when they ran, were found to be producing more proteins in their internal-clock cells than the sedentary animals. But the difference was slight in these healthy animals, which all had normal circadian rhythms to start with.

So the scientists turned to mice unable to produce a critical internal clock protein. Signals from these animals’ internal clocks rarely reach the rest of the body.

But after several weeks of running, the animals’ internal clocks were sturdier. Messages now traveled to these animals’ hearts and livers far more frequently than in their sedentary counterparts.

The beneficial effect was especially pronounced in those animals that exercised in the afternoon (or mouse equivalent).

That finding, Dr. Colwell says, “was a pretty big surprise.” He and his colleagues had expected to see the greatest effects from morning exercise, a popular workout time for many athletes.

But the animals that ran later produced more clock proteins and pumped the protein more efficiently to the rest of the body than animals that ran early in their day.

What all of this means for people isn’t clear, Dr. Colwell says. “It is evident that exercise will help to regulate” our bodily clocks and circadian rhythms, he says, especially as we enter middle age.

But whether we should opt for an afternoon jog over one in the morning “is impossible to say yet,” he says.

Late-night exercise, meanwhile, is probably inadvisable, he continues. Unpublished results from his lab show that healthy mice running at the animal equivalent of 11 p.m. or so developed significant disruptions in their circadian rhythm. Among other effects, they slept poorly.

“What we know, right now,” he says, “is that exercise is a good idea” if you wish to sleep well and avoid the physical ailments associated with an aging or clumsy circadian rhythm. And it is possible, although not yet proven, that afternoon sessions may produce more robust results.

“But any exercise is likely to be better than none,” he concludes. “And if you like morning exercise, which I do, great. Keep it up.”

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HSBC to pay record $1.9B fine

British-owned bank HSBC is paying $1.9B to settle a US money-laundering probe. The bank was investigated for involvement in the transfer of funds from Mexican drug cartels and sanctioned nations like Iran. (Dec. 11)









HSBC has agreed to pay a record $1.92 billion fine to settle a multi-year probe by U.S. prosecutors, who accused Europe's biggest bank of failing to enforce rules designed to prevent the laundering of criminal cash.

The U.S. Justice Department on Tuesday charged the bank with failing to maintain an effective program against money laundering and conduct due diligence on certain accounts.






In documents filed in federal court in Brooklyn, it also charged the bank with violating sanctions laws by doing business with Iran, Libya, Sudan, Burma and Cuba.

HSBC Holdings Plc admitted to a breakdown of controls and apologised for its conduct.

"We accept responsibility for our past mistakes. We have said we are profoundly sorry for them, and we do so again. The HSBC of today is a fundamentally different organisation from the one that made those mistakes," said Chief Executive Stuart Gulliver.

"Over the last two years, under new senior leadership, we have been taking concrete steps to put right what went wrong and to participate actively with government authorities in bringing to light and addressing these matters."

The bank agreed to forfeit $1.256 billion and retain a compliance monitor to resolve the charges through a deferred-prosecution agreement.

The settlement offers new information about failures at HSBC to police transactions linked to Mexico, details of which were reported this summer in a sweeping U.S. Senate probe.

The Senate panel alleged that HSBC failed to maintain controls designed to prevent money laundering by drug cartels, terrorists and tax cheats, when acting as a financier to clients routing funds from places including Mexico, Iran and Syria.

The bank was unable to properly monitor $15 billion in bulk cash transactions between mid-2006 and mid-2009, and had inadequate staffing and high turnover in its compliance units, the Senate panel's July report said.

HSBC on Tuesday said it expected to also reach a settlement with British watchdog the Financial Services Authority. The FSA declined to comment.

U.S. and European banks have now agreed to settlements with U.S. regulators totalling some $5 billion in recent years on charges they violated U.S. sanctions and failed to police potentially illicit transactions.

No bank or bank executives, however, have been indicted, as prosecutors have instead used deferred prosecutions - under which criminal charges against a firm are set aside if it agrees to conditions such as paying fines and changing behaviour.

HSBC's settlement also includes agreements or consent orders with the Manhattan district attorney, the Federal Reserve and three U.S. Treasury Department units: the Office of Foreign Assets Control, the Comptroller of the Currency and the Financial Crimes Enforcement Network.

HSBC said it would pay $1.921 billion, continue to cooperate fully with regulatory and law enforcement authorities, and take further action to strengthen its compliance policies and procedures. U.S. prosecutors have agreed to defer or forego prosecution.

The settlement is the third time in a decade that HSBC has been penalized for lax controls and ordered by U.S. authorities to better monitor suspicious transactions. Directives by regulators to improve oversight came in 2003 and again in 2010.

Last month, HSBC told investors it had set aside $1.5 billion to cover fines or penalties stemming from the inquiry and warned that costs could be significantly higher.

Analyst Jim Antos of Mizuho Securities said the settlement costs were "trivial" in terms of the company's book value.

"But in terms of real cash terms, that's a huge fine to pay," said Antos, who rates HSBC a "buy".

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Fare hikes, elimination of bus routes focus of CTA budget hearing









The second CTA fare hike in five years and a controversial plan that eliminates at least a dozen bus routes to free up money to add service on more crowded buses and trains were the focus of a public hearing Monday night on the CTA’s proposed 2013 budget.


The overwhelming majority of the 191 people who attended, amid tighter than usual security at CTA headquarters, wore yellow T-shirts calling on the CTA board to reverse its earlier decision to shorten the No. 11 Lincoln/Sedgwick bus route.


Pleas and demands to save the No. 11 bus route dominated the testimony. The  No. 11 route is being cut between Western and Fullerton avenues as part of a $16 million crowding-reduction plan that is slated to take effect Sunday.





Allan Mellis, a community activist in Lincoln Square, asked the CTA board to amend next year’s budget to find funds to restore the No. 11, which provides 5,800 rides on an average weekday, according to the CTA.


Ald. Ameya Pawar, whose 47th ward would lose a chunk of the No. 11 route, asked for time to work out a solution, including the possibility of using excess TIF funds from his ward. The CTA should not “fix a fiscal issue only to create a social problem” in terms of the toll the loss of No. 11 service would have on senior citizens and people living on fixed incomes, Pawar said.


The $1.39 billion CTA budget for next year erases a projected deficit by raising fares a total of $56 million and introducing $60 million in savings from labor unions and more than $50 million in management cuts and reforms, officials said.


But the price of one-day, three-day, seven-day and 30-day passes will increase effective Jan. 14 under the plan, while the full base fare will be frozen at $2.25 on the rail system and $2 on buses if transit cards are used to pay fares, or $2.25 for cash bus fares.

Reduced fares and passes for senior citizens and disabled people will also increase, and reduced fares for students will decline by 10 cents.


In addition, it will cost $5 instead of $2.25 to ride the Blue Line from O'Hare International Airport if a pass is not used.


No major service cuts or CTA employee layoffs will be needed to balance the budget, officials said.


CTA President Forrest Claypool said the changes in next year’s budget deliver fiscal stability to the agency’s operating budget and prevent the need for more fare increases over perhaps a decade.


The CTA, however, faces an estimated $15.9 billion backlog in major capital improvements to bring stations, tracks, viaducts and other infrastructure as well as buses and trains to a state of good repair over the next 10 years, according to a study commissioned by the Regional Transportation Authority.


A crowding-reduction initiative that is scheduled to begin Sunday  will cancel 12 bus routes and shorten two others. In addition, nine privately contracted CTA routes would be eliminated if subsidies provided by businesses aren't increased, officials said.


More service will be added to 48 bus routes and six of the eight rail lines with the goal of speeding travel times and making the ride more comfortable by reducing crowding by 10 percent to 15 percent during rush periods, according to the transit agency.


At Monday’s meeting, William Scott, a retired teacher who lives in Drexel Square, said other bus routes besides No. 11 suffer from serious problems too. He said it's difficult to find a seat on the No. 4 Cottage Grove bus.


Claypool responded that service will be added on the No. 4 under the de-crowding plan.
Neither Claypool nor CTA board Chairman Terry Peterson spoke about the possibility of altering the budget or the de-crowding plan.


Other people who testified complained about the CTA plan to more than double the fare, to $5, for trips beginning at O'Hare on the Blue Line.


Marge Demora, who works for United Airlines at the airport, said “it’s discrimination to single out O'Hare fares.” She said workers at restaurants and other jobs that pay minimum wages at the airport will be the hardest hit.


On buses that typically carry 70 passengers, the new target will be 45 to 55 passengers per bus, CTA officials said. Rail cars packed with 90 or more riders at maximum capacity are expected to have 70 to 75 passengers, officials said.


CTA officials said service will be increased on bus and rail routes used by 76 percent of the CTA’s total ridership.


But the bus service cuts, which the CTA board has already approved, have sparked vocal protests from some riders, particularly those who are rallying to save the No. 145 Wilson/Michigan Express and the No. 11 Lincoln/Sedgwick bus route, which is slated to stop operating between Western and Fullerton. CTA officials said the No. 11 service is redundant with the Brown Line between Fullerton and Western. A new route, the No. 37 Sedgwick, will be created.


jhilkevitch@tribune.com


Twitter @jhilkevitch



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Google’s Gmail service suffers disruption






SAN FRANCISCO (Reuters) – Several Google Inc Web products, including the popular Gmail service, appeared to go dark for users on several continents on Monday.


Google confirmed that “service disruptions” had affected Gmail and Google Drive, its online storage service. The two products are part of Google’s Apps suite, a Microsoft Office rival that caters to both consumers and businesses.






By 10:10 a.m. Pacific Time (1.10 p.m. EST), Google’s Apps Dashboard monitoring service reported that Gmail and Drive service had resumed. The company did not specify how many users were affected, or where, but the outage prompted widespread complaints on social media on both coasts in the U.S. and other major markets, from the United Kingdom to Brazil.


Some users additionally reported that the outage had affected Google Docs, the company’s word-processing and spreadsheet programs, while Chrome, Google’s Internet browser, also crashed unexpectedly.


“We are currently experiencing an issue with some Google services,” Google spokeswoman Andrea Freund said in a statement. “For everyone who is affected, we apologize for any inconvenience you may be experiencing.”


Firmly entrenched in the consumer market, Gmail is one of Google’s most popular and important product offerings. The search giant, which has been pushing a corporate version of the email service and its Apps suite to businesses to compete with Microsoft, said this month that the package will no longer be free to business customers.


(Reporting By Gerry Shih; Editing by Andrew Hay and Nick Zieminski)


Tech News Headlines – Yahoo! News


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