News Corporation shutters The Daily tablet newspaper as of December 15th

The Daily iPad event

News Corporation's The Daily was to have been a vanguard of the future, based on the past -- a tablet-focused newspaper that could get us back to paying subscriptions for our regular news fix. Not enough of us were as enthralled with the retro-future concept, however. While CEO Rupert Murdoch calls The Daily a "bold experiment," he's shutting the publication down as of December 15th following sluggish growth that didn't match long-term expectations. The move may pay off for other divisions. As part of a larger spinoff of its publishing wing headed by Robert Thomson, News Corp is moving the all-digital outlet's resources and some of its staff (including Editor-in-Chief Jesse Angelo) into the considerably more paper-bound New York Post. In some senses, it wasn't hard to see a shutdown as a possibility. While Murdoch is more than a little fond of paywalls as an alternative to free, ad-based viewing, The Daily was counting on building a paid readership completely from scratch in a web-based era -- it's hard to compete with free.

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Source: http://www.engadget.com/2012/12/03/news-corporation-shutters-the-daily-tablet-newspaper-on-december-15/

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Harvard's New Merger Arbitrage Position, Endowment Investing ...

Apparently Harvard (or more specifically, its endowment) engages in merger arbitrage. Taking a 5.77% percent stake in Teavana Holdings, Inc. (NYSE:TEA) after it agreed to be acquired by Starbucks (NYSE: SBUX), Harvard now owns 2,240,000 shares valued at roughly $33mm as of TEA's closing price on Friday. With a portfolio valued at over $30 billion, this represents ~0.1% of the total endowment and therefore ~0.6-0.7% of the ~15% "absolute return" portion of the endowment. It is far from large for Harvard, yet makes it one of the largest holders of TEA.

It can do this because Harvard operates an active, "hybrid"
investment model
. Unlike most endowments such as Yale, Duke, MIT, etc., Harvard Management Company (HMC) has external as well as internal managers to handle its investments. This has has indeed turned parts of HMC into a hedge fund, spinoffs and all. In particular, Convexity Capital Management (founded in 2006 by the Jack Meyer, former head of the endowment) shows some of the more complicated options/swaps-based strategies that were employed, discussed here.

But what about other methods of investing for endowments? This article from Greycourt & Co. looks to the (equity) index approach take by Norway's sovereign wealth fund, which does the "anti-Yale" approach in investing mostly in passive, liquid indices and has still done with. One possible explanation given is that Yale's focus on alternatives (mirrored by Harvard now) was done when illiquid assets were cheap/undiscovered, hence their legendary returns under David Swenson. As a result, recent lackluster returns by large endowments focused on alternatives (real estate, hedge funds, private equity) may be a function of over-interest.

What can we gain from this? Maybe, it's that like anything else in
investing, no asset class always does better and outperformance is ultimately driven by value.?

Disclosure: I am short TEA.

Source: http://www.wallstreetoasis.com/blog/harvards-new-merger-arbitrage-position-endowment-investing

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What Causes Poor Eyesight Among Seniors? - Retirement Homes

The loss of eyesight is a common consequence of growing older, and it?s not just ailments such as Glaucoma and cataracts causing difficulty for seniors. One group of researchers says they may have identified the cause of another common eye-related problem: difficulty reading fine print.

As reported in U.S. News and World Report, scientists from the University of Leicester in England conducted experiments with young adults in their 20s and seniors aged 65 and above, and found that when lines of text were digitally altered, seniors had difficulty reading the words when the lines were well defined, but they were able to read the text when it was blurred.

The results, published as an article in the journal Psychology and Aging, the researchers said the results demonstrate seniors and younger people read text in different ways.

?The findings showed that the difficulty older readers often experience is likely to be related to a progressive decline in visual sensitivity, particularly for visual detail, due to optical changes and changes in neural transmission even in individuals with apparently normal vision,? according to Kevin Paterson , one of the study?s authors.

How is your eyesight? Have you found your vision has declined with age? Tell us about it in the comment section below.

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Source: http://www.retirementhomes.com/library/what-causes-poor-eyesight-among-seniors/

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Health officials warn of spiraling HIV in Athens

ATHENS, Greece (AP) ? Health officials warn that the Greek capital is seeing an alarming increase in new HIV infections, particularly among intravenous drug users, as the country struggles through a protracted financial crisis in which funding has been slashed for health care and drug treatment programs.

Officials said while there were about 10-14 new HIV infections per year among Athens drug users from 2008 to 2010, that number shot up to 206 new cases last year and 487 new cases by October this year ? a 35-fold increase.

Epidemiology and preventive medicine professor Angelos Hatzakis described the situation as a "big and rapidly developing epidemic in Athens."

Marc Sprenger, director of the European Center for Disease Prevention and Control, said the situation must be dealt with quickly to prevent it from spiraling further.

Source: http://news.yahoo.com/health-officials-warn-spiraling-hiv-athens-142107493.html

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Insight: Lawyers gain from "say-on-pay" suits targeting U.S. firms

NEW YORK (Reuters) - Since the Dodd-Frank law gave shareholders a say in executive pay in 2010, courts have routinely rebuffed efforts by shareholders to force companies to heed their voice.

Now, lawyers have found a new way to bring lawsuits over executive pay, resulting in a handful of legal settlements. But the settlements to date have produced no changes in executive compensation and no money for investors. In fact, the main financial beneficiary so far has been a small New York law firm that brought the bulk of the cases.

The law firm, Faruqi & Faruqi, said the settlements benefit shareholders by giving them the information they need to make investment decisions, but it declined to comment on monetary details.

The Dodd-Frank Wall Street Reform and Consumer Protection Act requires companies listed in the United States to hold shareholder votes at least every three years on the compensation of top executives. These "say-on-pay" votes are advisory and nonbinding.

While most of them pass, a few fail, sometimes resulting in shareholder lawsuits against company directors. Of the 12 such cases that have been decided by courts, 11 have been dismissed, according to a report by the law firm Pillsbury Winthrop Shaw Pittman.

The lawsuits filed by Faruqi & Faruqi, however, are brought before votes are even taken and do not challenge compensation packages directly. Instead, the lawsuits accuse companies of failing to give shareholders enough information on compensation plans to make informed votes.

This can either be executive compensation, which is subject to the advisory votes, or employee share plans, which require shareholder approval. In both cases, the lawsuits seek to prevent votes from going forward at annual shareholder meetings.

Some 20 public companies including Microsoft Corp, H&R Block Inc and Clorox Co have been hit with these lawsuits in the past year, according the report by Pillsbury and court records. Pillsbury usually represents companies that are defending themselves against shareholder lawsuits. It is not representing any defendants in the current wave of cases.

At least six of the new cases have resulted in settlements in which the companies have agreed to give shareholders more information on the pay of their executives or on the employee share plans. The settlements have also resulted in fees of up to $625,000 for the lawyers who brought the cases.

ASSISTING SHAREHOLDERS

Juan Monteverde, the partner at Faruqi who is leading these lawsuits, said his firm was providing shareholders with information to protect their investments, even if there was no monetary award. "The settlements confer a benefit to shareholders by providing adequate disclosure necessary to make decisions on important issues," Monteverde said.

The extra information sought has included such things as the data the company reviewed in determining executive compensation and analyses showing the effect on shareholders of increasing the number of shares in a stock plan.

Lawyers from defense firms, however, have taken note that while settlements have provided additional disclosures and legal fees for Faruqi, they have netted no cash for shareholders.

"It's a shakedown for a quick buck," said Boris Feldman, a lawyer at Wilson Sonsini Goodrich & Rosati who is defending a case against cancer radiation company Accuray Inc.

Mark Chandler, the general counsel of Cisco Systems Inc, which faced a lawsuit that was later dropped, said the practice is a "new cottage industry for plaintiffs' lawyers." Cisco makes sure its proxy disclosures are thorough, he said.

Monteverde, the partner at Faruqi, declined to comment on the criticism.

The new strategy mirrors lawsuits in which shareholders have been able to delay mergers and acquisitions by bringing lawsuits accusing company directors of trying to sell companies at an unfair price. Settlements quickly follow and, as in the new say-on-pay lawsuits, the accords usually involve more disclosures from the company, no cash for the class and fees for the lawyers.

Many of the M&A lawsuits are brought in Delaware, a major venue for business litigation, where judges have become increasingly critical of settlements in which attorneys get paid but plaintiffs receive more information but no cash.

The compensation lawsuits, however, were filed not in Delaware but in the states where target companies are headquartered. Judges have given the cases a mixed reaction.

VICTORIES

In an early victory for Faruqi, Superior Court Judge James Kleinberg in Santa Clara, California, on April 10 blocked a vote at networking equipment manufacturer Brocade Communications Systems Inc scheduled for two days later.

Brocade was seeking to increase the number of shares available under its stock plan. The plaintiff alleged the company failed to disclose details and misrepresented how the increase would dilute investors' holdings.

Kleinberg said the plaintiff had shown a "substantial likelihood" of success in establishing the company did not disclose material information about a proposed increase in shares granted under the incentive plan.

"Denial of the proposed injunction would forever preclude the Brocade shareholders from casting a fully-informed vote on a proposal that could have dilutive effects on their shares, and after-the-fact damages calculations would be speculative and ineffective," he wrote.

Instead of delaying the annual vote, Brocade reached a settlement on April 11 in which it disclosed more details about its stock incentive plan while paying $625,000 in fees to the plaintiffs' lawyers, which were led by Faruqi. John Noh, a spokesman for Brocade, declined to comment.

The plaintiffs in all of Faruqi's cases were individual investors. One plaintiff, Natalie Gordon, is named in three of the lawsuits. The lawsuits gave no details about Gordon or the other plaintiffs, except to say that they are investors in the companies. Gordon could not be located for comment.

The one case that was not brought by Faruqi was filed on behalf of an institutional investor, the St. Louis Police Retirement System, against blood analytics company Abaxis Inc. In that case, U.S. District Judge Yvonne Gonzalez Rogers on October 23 determined the plaintiff would likely succeed in establishing that the company failed to reference material information on its equity incentive plan in its proxy statement and blocked a shareholder meeting from going ahead.

"The law requires that when a board of directors seeks a shareholder vote, the board must fully and fairly disclose all material information regarding the matters on which votes are sought," said Eric Zagar, a lawyer at Kessler Topaz Meltzer & Check who represented the plaintiff.

A spokesman for Abaxis did not respond to a request for comment. The lawsuit is ongoing.

At least five companies have reached settlements rather than fight an injunction demand, according to Pillsbury's report. Most recently, WebMD Health Corp agreed on November 15 to a disclosure-only settlement that would pay investors nothing but award Faruqi at least $250,000.

As part of the settlement, WebMD provided supplemental disclosures to investors that detailed the "guiding philosophy" of the board's compensation committee and more details on why it had approved an increase in the number of shares available under a stock plan.

Representatives of WebMD and the other companies that settled - Martha Stewart Living Omnimedia Inc, NeoStem Inc and Applied Minerals Inc - did not respond to requests for comment.

FIGHTING BACK

Other companies, though, have fought on and recently some judges have sided with them. At least five times, judges have denied injunction requests, the Pillsbury report said.

In a case involving Clorox, Superior Court Judge Wynne Carvill in Alameda County, California, rejected an injunction request on November 13.

While noting the "public controversy surrounding executive compensation," Carvill said there was "no risk of any interim, much less irreparable harm" if a say-on-pay vote went forward.

"This is not a merger or takeover case that would require the court after a trial on the merits to 'unscramble the eggs' if plaintiff were to prevail," Carvill wrote.

Kathryn Caulfield, a spokeswoman for Clorox, said the company was "pleased with the ruling."

A day later, New York state Supreme Court Justice Thomas Whelan in Suffolk County rejected a similar injunction request in a case involving Globecomm Systems Inc.

Jonathan Wagner, a lawyer at Kramer Levin Naftalis & Frankel who represents Globecomm, said courts recognize that the information the plaintiffs are seeking is not material. The plaintiffs are trying to turn the rules for disclosure in compensation proposals "upside down," he said.

Elsewhere in New York, state Supreme Court Justice Vito DeStefano in Nassau County on November 16 rejected an attempt to get an injunction in an investor lawsuit against Hain Celestial Group Inc.

The chance of shareholders being irreparably harmed by letting the say-on-pay vote go forward was "purely speculative given the advisory nature of the vote," DeStefano wrote.

A spokesman for Hain Celestial did not respond to a request for comment.

Not all of the cases make it to a decision or settlement. In some cases, Faruqi dropped lawsuits before a judge could rule on the injunction request and without a settlement.

Last week, Faruqi withdrew a lawsuit against Microsoft. The company said in a statement that the lawsuit was "meritless" and that it was "confident that courts will continue to recognize these cases don't serve the best interests of shareholders."

Despite the recent defense wins, few lawyers believe they've seen the last of this kind of lawsuit.

Faruqi last week issued a news release saying it was investigating the directors of Greenbrier Companies Inc over their conduct in seeking shareholders' approval of an amendment to its stock incentive plan. Jack Isselmann, a spokesman for Greenbrier, said the company believed the investigation "is without merit."

Sarah Good, who co-authored Pillsbury's report, said there was little companies could do to avoid being hit with these lawsuits.

"Where the plaintiffs securities bar sees that they will get a return on their investment, they're going to keep filing them," she said.

(Reporting by Nate Raymond; Additional reporting by Tom Hals; Editing by Eddie Evans, Martin Howell and Steve Orlofsky)

Source: http://news.yahoo.com/insight-lawyers-gain-pay-suits-targeting-u-firms-061010754--sector.html

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'That 70s Show' star arrested in North Carolina

(AP) ? "That '70s Show" star Lisa Robin Kelly is free on bond after being arrested for assault.

Police in the Charlotte, N.C., suburb of Mooresville arrested the 42-year-old Kelly and 61-year-old husband Robert Joseph Gilliam after responding to a disturbance at their home Monday. Both are free on bond.

Gilliam is charged with misdemeanor assault on a female. Kelly is charged with misdemeanor assault. They were taken to the Iredell County Detention Center and released on $500 bond apiece. They have a court date of Jan. 25. It's not known if either has an attorney.

Kelly portrayed Laurie Forman, sister of Topher Grace's lead character Eric, on the FOX series, which ended in 2006. She also appeared on the TV shows "Murphy Brown" and "Married . . . With Children."

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/4e67281c3f754d0696fbfdee0f3f1469/Article_2012-11-28-People-Lisa%20Robin%20Kelly-Arrest/id-dcad63c95c404f45b3b44f91d327e2a7

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No. 1 Indiana rolls past No. 14 N Carolina 83-59

Indiana head coach Tom Crean encourages his team during the first half of an NCAA college basketball game against North Carolina, Tuesday, Nov. 27, 2012, in Bloomington, Ind. (AP Photo/Darron Cummings)

Indiana head coach Tom Crean encourages his team during the first half of an NCAA college basketball game against North Carolina, Tuesday, Nov. 27, 2012, in Bloomington, Ind. (AP Photo/Darron Cummings)

North Carolina's Brice Johnson dunks during the first half of an NCAA college basketball game against Indiana, Tuesday, Nov. 27, 2012, in Bloomington, Ind. (AP Photo/Darron Cummings)

North Carolina's Joel James, bottom, is fouled by Indiana's Christian Watford as he goes up for a shot during the first half of an NCAA college basketball game, Tuesday, Nov. 27, 2012, in Bloomington, Ind. (AP Photo/Darron Cummings)

North Carolina's J.P. Tokoto, right, is defended by Indiana's Maurice Creek during the first half of an NCAA college basketball game, Tuesday, Nov. 27, 2012, in Bloomington, Ind. (AP Photo/Darron Cummings)

North Carolina's Marcus Paige (5) drives to the basket against Indiana's Yogi Ferrell during the first half of an NCAA college basketball game, Tuesday, Nov. 27, 2012, in Bloomington, Ind. (AP Photo/Darron Cummings)

BLOOMINGTON, Ind. (AP) ? No. 1 Indiana had something to prove Tuesday night ? that it could play defense.

Just two days after the Hoosiers put together their best game this season, they delivered an even more impressive performance, getting 20 points from Cody Zeller and 19 each from Will Sheehey and Victor Oladipo, running away from No. 14 North Carolina 83-59 in the ACC-Big Ten Challenge.

"Our guys played great basketball tonight," coach Tom Crean said. "We played against an incredible opponent, everybody understands how great North Carolina is. Our guys had an edge to them tonight, and it was on the defensive end as much as anything else."

The conventional wisdom is that the Hoosiers (7-0) are one of the nation's top scoring teams.

But the detractors have questioned Indiana's willingness to defend and some have even suggested that weakness has allowed No. 2 Duke to close the gap on the nation's top-ranked team.

North Carolina coach Roy Williams disagrees.

"I think they are," he said when asked whether Indiana deserved to be No. 1. "The thing I like about them is they really are a team. They don't have one guy that beats you up, they beat you so many different ways."

Williams and the Tar Heels (5-2) learned that lesson the hard way in Bloomington.

In the second half, the Tar Heels shot just 27.8 percent from the field and went 0 for 5 from 3-point range. They were outscored 12-8 on the fast break, an area that had caused so much concern for Crean that he lost sleep leading up to the game.

"I know people criticize us for our defense, and they say 'If they can't play defense, how good can they really be?'" Oladipo said.

Offensively, the Hoosiers were their usual balanced selves.

Zeller was 8 of 13 from the field with four blocks, one steal and an assist. Oladipo and Sheehey were both 8 of 12 from the field. Senior guard Jordan Hulls was 5 of 8, including three 3-pointers, and finished with 13 points, eight assists and two steals.

"It's cool," Oladipo said when asked about beating a program like North Carolina this handily. "I mean, we've been working really hard and you guys know as well as I know that this program, well not last year, but over the last couple of years was really struggling and we wanted to get it back to where it belongs, which is on top. So to get a win like that, it's a humbling experience."

The best thing about this game for North Carolina may be the end of its run against teams from the Hoosier State.

A week ago, North Carolina trailed by 29 points in the second half before falling 82-71 to two-time national runner-up Butler.

On Tuesday, it was almost an instant replay.

Indiana closed the first half fast, started the second half fast and spent the rest of the game pulling away. The Hoosiers' biggest lead, 83-51, came with 4:22 left in the game.

Dexter Strickland led the Tar Heels with 14 points, Marcus Paige had 11 and James Michael McAdoo had 10 points and nine rebounds for North Carolina, which was missing sophomore guard P.J. Hairston, who stayed home with a sprained left knee.

There was a bigger problem, though. North Carolina couldn't figure out how to contain Zeller, one of this season's favorites to be the national player of the year.

"Boy, I would love to watch them play if it wasn't against my team," Williams said. "You look down the lineup and Cody Zeller, he's family to begin with, he's really a load to handle, and two other guys that I didn't even hear of when they were in high school, they just kicked our rear ends."

The game pitting two of the country's most storied programs ? which have combined for 10 national titles and 3,767 wins ? had been billed as one of this season's showcase events. For 16 minutes, it lived up to the hype.

Zeller changed everything with two flurries.

By setting high picks and drawing post players outside, it opened up the lanes for his cutting and slashing teammates who wasted no time exploiting the holes in the Carolina defense, using a 15-6 run at the end of the first half to take a 46-37 halftime lead.

The Hoosiers were only getting started.

"If you let them dictate and control the pace of the game, they're going to win," Crean said. "So we had to control and dictate the pace of the game, and to do that, we had to run."

But in the second half, the Hoosiers were out to prove something else ? that they could defend.

Over the first 8? minutes, North Carolina managed only three points, the tip-in and a free throw.

Zeller and Oladipo, meanwhile, combined for seven points in the opening 13-0 blitz that put Indiana ahead 59-37, and North Carolina never challenged again as the Hoosiers won their 34th consecutive home game in November against a team that was supposed to cause havoc.

"It's a huge statement," Sheehey said. "We prepared for this game for a couple of weeks now and that's about it. You saw the score. We played hard, we played well, we played together and when we do that, stuff is going to happen."

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/347875155d53465d95cec892aeb06419/Article_2012-11-28-T25-N%20Carolina-Indiana%20Folo/id-4190cc1753414693b0c7d00bb2fa9e09

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Senate Dems rally for Rice against GOP opposition

Senate Majority Leader Harry Reid of Nev. speaks with reporters on Capitol Hill in Washington, Tuesday, Nov. 27, 2012, following a Democratic strategy session. (AP Photo/J. Scott Applewhite)

Senate Majority Leader Harry Reid of Nev. speaks with reporters on Capitol Hill in Washington, Tuesday, Nov. 27, 2012, following a Democratic strategy session. (AP Photo/J. Scott Applewhite)

Sen. John McCain, R-Ariz., ranking Republican on the Senate Armed Services Committee, center, flanked by fellow committee members, Sen. Kelly Ayotte, R-N.H., left, and Sen. Lindsey Graham, R-S.C., right, speaks on Capitol Hill in Washington, Tuesday, Nov. 27, 2012, following a meeting with UN Ambassador Susan Rice. Rice met with lawmakers to discuss statements she made about the attack on the U.S. Consulate in Libya that left the ambassador and three other Americans dead. (AP Photo/Susan Walsh)

WASHINGTON (AP) ? Senate Democrats rallied to U.N. Ambassador Susan Rice's defense as Republicans said they were even more troubled by her account of the deadly attack on the U.S. Consulate in Benghazi, Libya, and signaled they would try to scuttle her nomination if President Barack Obama tapped her as the next secretary of state.

"The personal attacks against Ambassador Rice by certain Republican senators have been outrageous and utterly unmoored from facts and reality," said Senate Majority Leader Harry Reid, D-Nev., who called the criticism unfathomable in light of disclosures from the intelligence community.

As congressional Democrats and the Obama administration delivered a full-throated defense of the possible diplomatic nominee, Rice was meeting Wednesday with Republican Sens. Susan Collins of Maine and Bob Corker of Tennessee. Corker is next in line for the top GOP spot on the Senate Foreign Relations Committee.

"We'll see and we're going to sit down and talk to her," Corker told The Associated Press. "She always delivers the party line, the company line, whatever the talking points are. I think most of us hold the secretary of state and secretary of treasury to a whole different level. We understand that they're going to support the administration, but we also want to know that they are independent enough, when administration is off-base, that they are putting pressure. I think that's what worries me most about Rice."

Rice answered questions Tuesday from Sens. John McCain, Lindsey Graham and Kelly Ayotte about her much-maligned explanations about the cause of the September attack in Libya that killed Ambassador Chris Stevens and three other Americans.

At the hour-plus, closed-door session, Rice conceded that her initial account ? that a spontaneous demonstration over an anti-Muslim video triggered the attack ? was wrong, but she insisted she had not been trying to mislead the American people when she made her comments five days later.

"The talking points provided by the intelligence community, and the initial assessment upon which they were based, were incorrect in a key respect: There was no protest or demonstration in Benghazi," Rice said in a statement after the meeting. "While we certainly wish that we had had perfect information just days after the terrorist attack, as is often the case the intelligence assessment has evolved."

She was joined in the meeting by Acting CIA Director Michael Morell.

Rice requested the meeting with the three senators ? her most outspoken critics ? but she failed to mollify them and they indicated they would try to block her nomination.

"We are significantly troubled by many of the answers that we got and some that we didn't get concerning evidence that was leading up to the attack on the consulate," McCain told reporters after a session with Rice that he described as candid.

Said Graham, "Bottom line, I'm more disturbed now than I was before that 16 Sept. explanation." He said in a later interview that Rice went "far beyond the flawed talking points" and should be held accountable.

"I'm more troubled today," said Ayotte, who argued that it was clear in the days after the attack that it was terrorism and not a spontaneous demonstration.

Rice's unusual visit to Capitol Hill ? typically only nominees meet privately with lawmakers ? reflects the Obama administration's campaign for the current front-runner to replace Secretary of State Hillary Rodham Clinton against some strenuous GOP opposition.

The White House remained defiant in its support for Rice, arguing that she was relying on an assessment from the intelligence community and had no responsibility in compiling the information on the cause of the attack. It dismissed what it characterized as a fixation on her national television appearances five days after the raid.

"The focus on, some might say, obsession on comments made on Sunday shows seems to me, and to many, to be misplaced," Obama spokesman Jay Carney told reporters at a White House briefing.

House Democrats, including female members of the Congressional Black Caucus, have suggested that the GOP opposition to Rice is sexist and racist. Senate Democrats, who will increase their advantage to 55-45 in the next Congress, said Rice could win confirmation if Republicans recognize the unfairness of penalizing her for the intelligence community's talking points.

Senate Armed Services Committee Chairman Carl Levin, D-Mich., told reporters "it is so unfair to hold her responsible for something that she didn't produce and which the intelligence community has specifically stood by."

In a statement late Tuesday, McCain, Graham and Ayotte said Morell told them the FBI had removed references to al-Qaida in the talking points to prevent compromising ongoing investigations. Later in the day, the three senators said the CIA contacted them to say Morell misspoke and the CIA had deleted the references.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/3d281c11a96b4ad082fe88aa0db04305/Article_2012-11-28-US-Cabinet-Rice/id-045e1e4dc744468398904226ffc46d02

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Samsung phones infringe Apple patents | Legal News

A Dutch court on Wednesday ruled that few of Galaxy smartphones and tablets violate an Apple patent in the most recent round of the mobile giants? legal battle worldwide.

According to the court?s order Samsung has to pay Apple damages, evaluated by the profits made by its sales. This recent suit was in relation to the Android operating system versions 2.2.1 and 3.0 used on Galaxy smartphones and tablets.

This is one among the multiple patent lawsuits between Samsung and Apple in 10 different countries. This is the aftermath of their battle to rule the lucrative mobile market and triumph over consumers with their newest gadgets.

Last month, in an introductory decision a U.S trade panel judge ruled that Samsung infringed Apple patents to make its phones and tablets. Samsung also won a court case last month when a Dutch court ruled the company did not violate an Apple patent using certain multi-touch techniques in manufacturing its smartphones and tablets.

This entry was posted in Legal News and tagged Apple, Apple Patents, Samsung, Samsung Patents by bizandlegis. Bookmark the permalink.

Source: http://www.bizandlegis.com/legalnews/2012/11/samsung-infringe-apple-patents/

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