Tuesday, December 4, 2012

Stocks end lower on weak manufacturing report

2 hrs.

Stocks finished modestly lower across the board on the first trading day of the month, weighed by a weaker-than-expected manufacturing report and despite new details of a counter-offer from House Republicans to avert the "fiscal cliff."

The Dow Jones Industrial Average fell 59.98 points, or 0.46 percent, to close at 12,965.60, led by DuPont and General Electric, while Cisco gained.

The S&P 500 declined 6.72 points, or 0.47 percent, to finish at 1,409.46. The Nasdaq slid 8.04 points, or 0.27 percent, to end at 3,002.20.

The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, ended above 16.

Most key S&P sectors closed in the red, led by materials and industrials. Telecoms eked out a small gain.

In a letter to President Obama, House Speaker John Boehner and six other House Republican leaders called for $800 billion in revenues through tax reforms and $600 billion in health savings among other offers. Net savings under the counter-offer would total $2.2 trillion. Last week's offer from the White House was soundly rejected by both House and Senate Republicans.

On Sunday, Treasury Secretary Timothy Geithner said that the Republicans would ultimately agree to raise tax rates on the rich to avert the potential economic disaster of the cliff.?

"The reason the market's not selling off dramatically with investors running for cover is because everyone universally believes there's going to be some kind of deal that will save the economy in the final hour," said Michael Sheldon, chief market strategist at RDM Financial Group. "Even if a deal is struck, we could still have another few quarters of sub-par economic growth, therefore it's hard to get too excited, although we are likely to have some sort of relief rally if the Republicans and Democrats can agree to a deal before the end of the year."

Stocks have been choppy in the recent weeks as investors reacted to a chain of mixed remarks from lawmakers in Washington on the progress of the fiscal cliff talks.

On the economic front, U.S. manufacturing unexpectedly contracted to 49.5 in November, according to the Institute for Supply Management, dropping to the lowest level in nearly three years. Economists polled by Reuters had expected a reading of 51.3. A reading below 50 indicates a contraction in the sector.

Meanwhile, construction spending climbed 1.4 percent to an annual rate of $872.1 billion in October, according to the Commerce Department, thanks to stronger spending on homes. Analysts polled by Reuters had expected a 0.5 percent gain.

"The news out of China last night was encouraging and it seems like Europe, despite a lack of any significant growth, is also doing a bit better," noted Sheldon. "But right now, the main focus appears to be here in the U.S. and what happens in terms of the fiscal cliff year-end."

In Europe, Greece announced debt-buyback plans through a Dutch auction in an effort to lower its ballooning debt. The bond repurchase is key to the efforts of its foreign lenders to put Greece's debt back on sustainable footing, and will help the debt-ridden country receive funding to avoid bankruptcy.

China manufacturing data from HSBC rose to 50.5 in November from 49.5 in October, the first time that it has grown since October 2011.

On Sunday night, News Corp announced the departure of Tom Mockridge, head of its UK newspapers, widely believed to signal that he had lost out in the race to lead the company's publishing division after it is split next year to Murdoch lieutenant Robert Thomson.

Dell jumped after Goldman Sachs upgraded the company to "buy" from "sell."

Verizon also benefited from an upgrade, with the Dow component up more than 1 percent on a move from "neutral" to "buy" at Nomura, which said the telecom's "superior execution will continue to drive higher profitably." Nomura also boosted Verizon's price target from $49 to $50.

Meanwhile, Research In Motion slipped after Canaccord cut its rating on the BlackBerry maker to "cut" from "hold."

Merck rose after the pharmaceutical company started a mid-stage study of a drug to treat Alzheimer's disease.

Ford gained after the U.S. automaker announced that its November auto sales gained 6.5 percent, topping expectations. Meanwhile, General Motors edged lower after the company posted sales that fell short of estimates.

HCA Holdings, Dish Network and Cato became the latest companies to declare special dividends ahead of the year-end.Among earnings, PepBoys is scheduled to post results after the closing bell.

Source: http://www.nbcnews.com/business/stocks-end-lower-weak-manufacturing-report-1C7397155

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Best of 2012: Business Interviews - Economy - eWallstreeter

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Source: http://ewallstreeter.com/best-of-business-interviews-2910/

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Monday, December 3, 2012

A Children's Treasury of Texting Slang

Today is texting's 20th birthday, and as part of the celebration, we've rounded up a little museum of texting slang. You may know some of it very well, you may not recognize some of it at all. You may even find the existence of some of it to be quite dubious. More »


Source: http://feeds.gawker.com/~r/gizmodo/full/~3/1N9iXrEB4GY/a-childrens-treasury-of-texting-slang

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While conservatives focus on the ?fiscal cliff,? the left has its eye on the ball (Powerlineblog)

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Source: http://news.feedzilla.com/en_us/stories/politics/top-stories/268111128?client_source=feed&format=rss

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Prohibition

Prohibition

The prohibition act has moved in, outlawing alcohol when people need it most. In a world where the law has become corrupt, murder a part of everyday life, and the rules have gone out the window...how will you survive?

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Alaska murder suspect linked to 7 other killings

ANCHORAGE, Alaska (AP) ? Investigators say a man found dead of an apparent suicide in an Alaska jail was not only suspected of killing an Anchorage barista but may be linked to seven other possible slayings around the country.

Israel Keyes, who had also confessed to killing a Vermont couple, was found dead in his cell Sunday, authorities said at a news conference that included U.S. Attorney Karen Loeffler, the FBI, and Anchorage police.

Keyes was facing a March trial in Anchorage federal court for the murder of 18-year-old Samantha Koenig, who was abducted from a coffee kiosk in the city last February. He was later arrested in Texas after using the victim's debit card.

Anchorage police chief Mark Mew said Keyes confessed to killing Koenig, as well as killing Bill and Lorraine Currier of Essex, Vt.

The bodies of the Curriers have never been found. They were last seen leaving their jobs on June 8, 2011. Co-workers reported them missing the next day.

Keyes, 34, also indicated he killed four others in Washington state and one person in New York state, but didn't give the victims' names, authorities said.

Authorities wouldn't say how Keyes killed himself, only that he was alone in his cell. An autopsy will be conducted.

Keyes could have faced the death penalty in the Koenig case.

The FBI contends Keyes killed Koenig less than a day after she was kidnapped. Her body was recovered April 2 from an ice-covered lake north of Anchorage.

Koenig's disappearance gripped the city for weeks.

A surveillance camera showed an apparently armed man in a hooded sweat shirt leading Koenig away from the coffee stand. Koenig's friends and relatives established a reward fund and plastered the city with fliers with her photo in hopes of finding the young woman alive.

Prosecutors said Keyes stole the debit card from a vehicle she shared that was parked near her home, obtained the personal identification number and scratched the number into the card.

After killing Koenig, Keyes used her phone to send text messages to conceal the abduction, according to prosecutors. He flew to Texas and returned Feb. 17 to Anchorage, where he sent another text message demanding ransom and directing it to the account connected to the stolen debit card, according to prosecutors.

Keyes made withdrawals from automated teller machines in Alaska, Arizona, New Mexico and Texas before his arrest in Texas, according to prosecutors. He was charged with kidnapping resulting in Koenig's death.

Koenig's family said there was no apparent previous connection between the teen and the suspect. Reached by phone Sunday, Koenig's father, James Koenig declined to comment on Keyes' death.

In Vermont, the U.S. Attorney's Office said in a statement Sunday that they have been working with investigators in Alaska since April on the Currier case.

Investigators have determined that the couple's home was entered forcibly, and that there was evidence of a possible struggle.

Their car was stolen and was recovered several days after their disappearance at an apartment complex about three-quarters of a mile away from their home.

Marilyn Chates, Bill Currier's mother, told The Associated Press that police contacted her some time ago to tell her about Keyes' confession and to tell her that they believed the couple's killing was random.

Certificates of presumed death were issued over the summer and a memorial service was held in late summer, she said.

Vermont authorities called Chates Sunday to tell her of Keyes' suicide.

"After some thinking, our family has been saved the long road ahead ? trials, possible plea agreements and possible appeals ? and perhaps this was the best thing that could have happened," she said from her home in Florida Sunday evening.

Keyes was thorough and methodical in disposing victims, authorities said Sunday. Only Koenig's body has been recovered.

He didn't have a clear pattern in victims, who ranged widely in age, authorities said. Money appeared to be just a partial motive.

Authorities say they may never know the full extent of Keyes' crimes because he parsed out only a little information at a time, withholding names and locations of most of his victims.

There may be victims in other states, besides the four states noted by Keyes, FBI Special Agent in Charge Mary Rook said.

Keyes also confessed to bank robberies in New York state and Texas.

___

Associated Press writer Rebecca Miller contributed to this report.

Source: http://news.yahoo.com/alaska-murder-suspect-linked-7-other-killings-085347727.html

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Sunday, December 2, 2012

The 15 most overpriced gadgets ever

1 day

There?s nothing wrong with charging a lot of money for your gadget.?Some of the best things in life are the exact opposite of free; a truly superior product is definitely worth spending more.?Unfortunately, sometimes tech companies think too much of their wares and too little of your intelligence. The result is a product whose price is out of whack with its real value in the marketplace.

Here are 15 truly outrageous offenders, the most overpriced gadgets?of all?time:

Microsoft Surface with Windows RT ($629 with Touch Cover)

At its $499 base price, Microsoft?s first tablet costs the same as the fourth-generation iPad, the well-established leader in the tablet market. The attractive Surface has a screen that's worse than?the iPad's, it lasts 5 hours less on a charge, and at launch time, had only a handful of decent apps for its nascent Windows RT operating system.

How would you like a brand new convertible with a one-of-a-kind retractable roof for the reasonable price?of $22,000? There?s just one catch. You must pay an extra $10,000 for the convertible roof you saw highlighted in all the commercials.

However, you may want the Surface because of its heavily-advertised Touch Cover keyboard, a must-have accessory that will set you back an extra $119, even though it costs Microsoft only $16 to manufacture. That?s $629 for a new, unproven tablet that trails the $499 market leader in most ways.

MORE: ?12 Hottest Holiday Tablets

Voodoo Envy 133 ($2,099 - $3,299)

One of the most anticipated products of 2008, the 0.7-inch thin Envy 133 notebook was supposed to inspire its name in all of your friends. But at a starting price of over $2,099 that jumped up to $3,300 when fully configured, this 3.4-pound notebook was far too light on performance and specs to justify its heavy price.

The high-end Envy 133 configuration featured a modest 1.8-GHz Intel Core 2 Duo CPU, just 2GB of RAM, and 64GB of internal Flash storage that copied files so slowly it was more of a Solid State Park than a Solid State Drive. Worse still, the notebook lasted just 2 hours and 32 minutes on a charge, making this ultra-portable not very portable at all.

MORE: ?Top 10 Ultrabooks

Cisco umi ($599 Plus $24.99 a month)

Psst. Come over here. I have a copy of this week?s "Village Voice"?newspaper that I?d like to sell you for just $25. What? ?It?s free,? you say? Well, my version has slightly sharper print so I?m sure you and millions of others will be more than willing to pay my premium.

Cisco applied this perverse logic to its 2010-era umi home telepresence system, which cost an eye-popping $599 for equipment plus $24.99 a month to provide a slightly better video chat?service than competitors like Skype and Google offered for free. With the umi, which was short for You / Me, you could hook up a camera to the top of your TV and either talk to one of the five other umi users--or with your friends on Google Talk who were paying nothing at all.

MORE: ?8 Sweet Cameras for Every Shooter

Sony VAIO P series ($899)

Back in 2009, netbooks were as hot as the Jonas Brothers, and everyone wanted to get in on the action. On the low end, non-computer companies like Sylvania (yes, the light bulb people) were making their own versions of netbook. On the high end, Sony tried to reinvent the genre with its 1.4-pound, 8-inch VAIO P.

At first glance, the VAIO P was an engineering marvel. The system was thin and narrow enough to fit into an overcoat pocket while providing premium features like a bright 1600 x 768 pixel display and 3G connectivity. However, with super-sluggish performance, mediocre battery life and a stiff keyboard, the notebook?wasn?t good enough for extended use. At $899 and up, the value just wasn?t there when the best premium netbooks at the time cost $499.

MORE:??Longest Lasting Laptops

Apple Lisa ($10,000)

In the early 1980s, few people had seen a computer?with a graphical user interface. Xerox had been experimenting with GUIs since the 1970s and launched its Xerox Star 8010 in 1981, but it was Apple?s Lisa that finally brought windowed operating systems to the mainstream in early 1983.

Unfortunately, for the privilege of rolling a mouse around Lisa?s 12-inch, 720 x 360 black-and-white screen, you had to pay a cool $10,000 ($22,000 in 2011 dollars) and put up with a pair of unreliable ?Twiggy? floppy drives that used their own proprietary 860K disks. At the same time, you could buy a brand new Apple IIe, the leading home computer, for just $1,395, a Compaq Portable PC for $3,590 or an original PC for far less.

MORE:??7 Things Apple Must Do to Get Its Swagger Back

Nokia Booklet 3G ($1,720 over two years)

Subsidized netbooks with two-year 3G contracts were always a bad idea, but never more so than with the 2010 Nokia Booklet 3G. For $299 and a commitment to give AT&T $60 a month for two years ($1,720), unsuspecting shoppers got an attractive but incredibly incapable 10-inch netbook.

Perhaps Nokia and AT&T thought the Booklet?s Macbook-esque aluminum chassis would distract consumers long enough that they would make it through the return period without noticing the system?s glacial 4,200-rpm hard drive, painfully slow Atom Z530 processor or cramped keyboard.

MORE:Top Windows 8 Laptop Gifts

DIVX ($499 plus $4.50 per disc)

How would you like to pay $500 just for the right to pay another $4.50 every time you want to rent a movie? That was the premise behind DIVX, a late-1990s movie rental system designed by someone who had watched too many episodes of Mission Impossible and loved the idea of self-destructing media.

After buying a $500 DIVX Player, you could then purchase any of about 400 movies on disc for about $4.50. A mere 48 hours after you watched the film, it would expire and you would have to throw away the disc or pay another $3.25 for another 48 hours. Circuit City, the leading seller of DIVX players and discs, touted the new technology??as a convenience that would help you avoid late fees. However, the player was $100 more than a regular DVD player and the discs were more expensive than renting a film at the store.

MORE: ?Best Smart TVs

BlackBerry PlayBook ($499)

Research in Motion Co-CEOs Mike Lazaridis and Jim Balsillie must have been eating some psychotropic Blackberries when they laid out the MSRP for the company?s first tablet in spring 2011. At $499???the same price as the industry-leading iPad 2???the BlackBerry PlayBook provided a significantly smaller screen and an operating system so half-baked that it didn?t even include native email support at launch.

Within a few months, the price of the PlayBook had dropped dramatically. Today, you can get one for just under $180, which is still too expensive. Much-better 7-inch Android devices like the Nexus 7 and Amazon Kindle Fire cost around the same price and have a far better selection of apps.

MORE:??Essential Tablet Accessories

Motorola Laptop Dock ($499)

A dual-core smartphone is already more powerful than an older PC, so why not use it as one? That was Motorola?s thinking when the company launched the Laptop Dock, a keyboard/screen combo that turned the Atrix 4G handset into a notebook running the browser-centric Webtop OS.

At $499 by itself, or $300 when bought together with the Atrix, the 11.6-inch Laptop Dock cost the same or more than a full-fledged Windows 7 netbook that could run all of your software. Considering that its cramped keyboard was worse than those on most netbooks, Motorola?s dock was one of the biggest rip-offs of 2011.

MORE:?10 Hottest Holiday Smartphones

AT&T VideoPhone 2500 ($1,599)

Today, anyone can conduct an online video chat for free, using Skype, Google Talk, FaceTime or any of a dozen other solutions. But back in 1992, we didn?t have broadband Internet or HD webcams. So when AT&T released the VideoPhone 2500, a standard landline handset which could send and receive video, the world took notice . . . of its whopping $1,599 price.

Considering that it both sent and received video on a sluggish 19.2bps modem, the VideoPhone 2500?s 10 frame-per-second performance was pretty impressive for the time. However, to use the device, you needed your friends and family needed to buy it too, something few consumers were willing to do.

MORE:??Best Bluetooth Speakers

Apple Macintosh G4 Cube ($1,799)

How much extra would you pay for sexy? If you were a Mac maven in 2000, Steve Jobs thought you would spend $1,799 for the PowerMac G4 Cube, a tiny cube-shaped version of Apple?s PowerMac G4 desktop. Unfortunately, at that price, the Cube was a square peg trying to fit into the round hole of Apple?s product line.

At the time, consumers could pay $1,000 less and get an iMac,?which came with a monitor included. Creative professionals who had the money to spend preferred to buy a PowerMac G4 tower with better performance and the ability to upgrade.

MORE:??Alive and Booting: 8 Reasons The PC Still Matters

Motorola Xoom ($1,079 over two years)

When they released the first true Android slate in early 2011, Google and Motorola were a year late to the party and yet they wanted hundreds of dollars more than Apple?s belle of the ball. At a time when the iPad 2 cost $499 with Wi-Fi or $629 with contract-free 3G service, the Motorola Xoom launched at $599 and required you to sign a two-year contract with Verizon at a minimum of $20 per month ($1,079) or $799 sans contract. While the cheaper iPad 2 had access to thousands of apps, at launch, the Xoom had a measly 46 tablet-optimized apps.

MORE:??Top 10 Tablets to Buy or Avoid Now

IBM PCJr ($669 to $1,269)?

A stripped-down chip off the old block, 1983?s IBM PCJr (PC Junior) would have been overpriced at any cost. At $1,269 with the absolutely necessary floppy drive ($669 without), the PC Jr. was quite a bit cheaper than full fledged IBM PCs of the time, but about on-par with the Apple IIe and far more expensive than home-computing competitors like the $200 Commodore 64 and $150 TI-99/4A.

Unfortunately, with its horribly?stiff chiclet keyboard, slow performance, and a slew of compatibility issues that kept it from running popular PC programs, the Jr wasn?t worth the premium. That year, I arrived at?camp earlier than the other kids, just so I could grab a seat in front of a real PC rather than this awful offspring.

MORE:??Essential Tips for Gifting a Tablet

OQO Model 01 ($1,899)

In launching the world?s first 14-ounce Windows PC, OQO?s 2004 Model 01 was a true trailblazer. However, even by early 21st-century standards, the lilliputian laptop?s 1-GHz Transmeta CPU, 20GB hard drive and?256MB of RAM provided sluggish performance. Meanwhile, the tiny keyboard just felt awkward.

Considering that you could get a fully?functioning laptop for hundreds of dollars less, it was hard for most consumers and business users to imagine buying this severely neutered novelty for such a high price.

MORE:??The 12 Best Gadgets You Didn't Buy

Newton MessagePad 2100 ($1,000)

By 1997, Apple had improved the software and solved a lot of the handwriting recognition problems on its Newton PDA. Perhaps because of these improvements, the company felt it could price its grayscale handheld at a whopping $1,000, more than some PCs cost.

At the same time, the PalmPilot Personal cost just $299. Yes, the Newton had a better processor, more ?storage?and a larger screen, but none of these features justified spending $700 more, even during the Internet bubble.

MORE:??Top Android Tablets for Kids

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Source: http://www.nbcnews.com/technology/gadgetbox/15-most-overpriced-gadgets-ever-1C7354819

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