Karzai, Top Rival Run About Even in Afghan Returns

President Hamid Karzai and his main rival, former Foreign Minister Abdullah Abdullah, were running virtually even Tuesday in the first fragmented returns from last week's Afghan election, raising the possibility of a runoff that could drag the process out for months.

The figures came from 10 percent of the more than 27,000 polling sites nationwide -- too small a sampling either to draw a conclusion about the outcome or silence criticism that the ballot was marred by fraud and Taliban violence.

The U.S. and its NATO partners had hoped Thursday's election would produce a clear winner with a strong mandate to confront the growing Taliban insurgency, widespread corruption, narcotics and a stagnant economy.

Six other presidential candidates, echoing Abdullah's earlier claims, charged Tuesday that widespread fraud occurred on election day -- mostly in Karzai's favor.

The allegations threaten to discredit the eventual winner, stoke violence and cast doubt on the credibility of the Afghanistan democracy at a time when President Barack Obama and other Western leaders are considering investing more resources in an increasingly unpopular war.

Underscoring the crisis, a cluster of vehicle bombs detonated nearly simultaneously near a Japanese construction company in the southern city of Kandahar, killing at least 41 people, flattening buildings and sending flames shooting into the sky. The thundering explosion occurred just after nightfall Tuesday in a district that includes U.N. facilities and an Afghan intelligence office. Kandahar is the spiritual home of the Taliban.

Also in the south, a bombing killed four U.S. service members Tuesday. At least 172 American troops have died in the Afghan war this year -- the deadliest since the conflict began in 2001.

The Independent Election Commission announced that Karzai was leading with 40.6 percent and Abdullah was trailing with 38.7 percent of the roughly 525,000 valid votes counted so far. Most of the votes came from Kabul, nearby Parwan and Nangarhar provinces, Kunduz and Jowzjan provinces in the north and Ghor province to the west.

However, the figures did not include votes from 12 of the country's 34 provinces, including some where Karzai was expected to run strong.

In the volatile south, the homeland of Karzai's Pashtun ethnic group, less than 2 percent of the votes in Kandahar province had been counted and no votes in Helmand had been tallied, the commission said.

Karzai would expect to do well in both provinces, suggesting his returns could go higher. However, turnout was believed to have been low in those two provinces because of Taliban attacks and intimidation as well as heavy fighting between the insurgents and U.S.-led forces.

It is unclear whether turnout in the Pashtun south will be enough to significantly offset Abdullah's strength in the mostly Tajik and Uzbek north, which are generally more peaceful.

Abdullah, son of a Pashtun father and a Tajik mother, is widely seen as the northern candidate because of his close association with the northern-based alliance that overthrew the mostly Pashtun Taliban in the U.S.-led invasion of 2001.

Both Karzai and Abdullah had claimed they were leading in early returns, but no official figures have backed those assertions.

The U.S. government urged candidates to wait for more complete results. U.N. officials have also urged caution, fearing that a drumbeat of allegations and recriminations will poison the political atmosphere at a time when the part of society opposed to the Taliban must draw together.

"We call on all parties to refrain from speculation until national results are announced," State Department spokesman Ian Kelly said.

Some Afghans in Kabul expressed weariness with political bickering and hoped a runoff would not be necessary. If neither Karzai nor Abdullah gets more than 50 percent of the vote, the two will face each other in a runoff, probably in October.

"We're tired," said Shirin Agha, 40, who sells melons along a Kabul street. "I'm fed up with all these politicians."

Nevertheless, allegations of vote rigging mounted Tuesday.

Abdullah showed reporters a packet of ballots with an official stamp on the back -- used to mark cast ballots -- nearly all checked for Karzai. He also showed video of what he said were Karzai supporters in eastern Ghazni province marking dozens of ballots for their candidate, and a picture of a polling site in the south showing people he said were Karzai campaign officials looking over the shoulders of voters.

"If the widespread rigging is ignored, this is the type of regime that will be imposed upon Afghanistan for the next five years and with that sort of a system, a system that has destroyed every institution, broken every law," Abdullah said at a news conference just before the results were announced.

The election commission said it fired four election workers in northern Balkh province for attempted fraud. Photographs showed three trying to vote with multiple cards, while the fourth was ordering voters to cast ballots for a specific candidate, said Daoud Ali Najafi, the commission's chief electoral officer.

The six other presidential candidates who cited fraud said in a statement that dozens of complaints filed could affect the outcome of the election "to the point that many are seriously questioning the legitimacy and credibility of the results."

"Fraud in the elections could result in increased tension and violence," the six added.

The most prominent of the six was Ashraf Ghani, a Western-educated former finance minister and World Bank official. Ghani earlier released a statement listing the complaints submitted by his campaign, including gunmen telling voters to cast ballots for Abdullah and officials stuffing ballot boxes in favor of Karzai.

As of Monday evening, the independent Electoral Complaints Commission said it received more than 50 allegations of fraud that could affect the election results if true. Final results cannot be certified as legitimate until the complaints commission rules on these cases.

Afghan officials say they are confident that algorithms, double-blind computer entries and other modern methods will catch 90 percent of the fraud.


Associated Press Writers Heidi Vogt, Nahal Toosi, Rahim Faiez and Amir Shah in Kabul and Noor Khan in Kandahar contributed to this report.

Read More...

As More Banks Fail, Private Investors Gain Favor

With the toll of bank failures surging, regulators are expected Wednesday to ease rules they proposed only last month for private investors seeking to buy failed institutions.

Private equity funds have been targets of criticism in recent years for their risk-taking and outsized pay for managers. But the depth of the banking crisis appears to have softened the Federal Deposit Insurance Corp.'s resistance. In part, that's because fewer banks are now willing to buy other, ailing institutions.

In July, when bondholders rescued commercial lender CIT Group Inc., it marked the first time since the crisis erupted last fall that private investors had saved a big financial firm without federal aid or oversight.

Rising loan defaults, fed by tumbling home prices and worsening unemployment, have hammered banks. Eighty-one have failed so far this year. The closings have drained billions from the FDIC deposit insurance fund, which insures regular bank accounts up to $250,000 and is financed with fees paid by U.S. banks.

The FDIC estimates bank failures will cost the fund around $70 billion through 2013. The fund stood at $13 billion -- its lowest level since 1993 -- at the end of March. It's slipped to 0.27 percent of insured deposits, below a congressionally mandated minimum of 1.15 percent.

The FDIC seizes failed banks and seeks buyers for their branches, deposits and soured loans. Under the crush of failures, the agency says private equity can inject vitally needed capital into the system, especially with fewer healthy banks looking to acquire failed institutions.

"There's an enormous need for private money to do this," said Josh Lerner, a professor of finance at Harvard Business School. "There's the sense that you have a lot of money which is currently sitting on the sidelines."

A potential "sweet spot" for private equity buyers are banks with $5 billion to $20 billion in assets, said Chip MacDonald, an attorney at Jones Day in Atlanta. Falling within that range was BankUnited FSB, a Florida thrift with $12.8 billion in assets that closed in May. BankUnited was sold for $900 million to a group of private equity investors that included billionaire Wilbur Ross' firm, without the new FDIC policy being in effect.

Private equity firms tend to buy distressed companies, slash costs and then resell them a few years later. They invest their own capital to buy a company and pump it up with money from other investors.

Such "leveraging" to buy companies amounts to, on average, three-to-one for private equity firms: They invest $3 in outside capital for each $1 they put up themselves. The roughly 2,000 private equity firms in the U.S. have around $450 billion in capital to invest, according to the Private Equity Council, the industry's 2-year-old advocacy group.

Investors in private equity funds include pension funds, university endowments and charitable foundations.

Organized labor still denounces private equity as vultures and job-killers. Unions got a sympathetic ear from many Democrats in Congress in 2007, when several key lawmakers pushed to raise taxes for managers of private equity firms as well as hedge funds. That tax campaign stalled.

The private equity industry is exploiting the economic crisis to enrich itself, said Stephen Lerner, director of the private equity project at the Service Employees International Union. "They are trying to use their political and financial sway to get into what they see as bargain basement prices for very little risk."

But with the financial crisis and recession causing banks to fail at the fastest pace since the height of the savings-and-loan crisis in 1992, support is building among regulators to use private equity money to bolster the industry.

"We want nontraditional investors," FDIC Chairman Sheila Bair said in early July, when the agency proposed its rules. "There is a significant need for capital, and there is capital out there."

When the FDIC board meets in a public session Wednesday, it's expected to ease restrictions, people familiar with the issue say. They spoke on condition of anonymity because the rules haven't been made public in final form yet.

Regulators also have begun to reach overseas.

On Friday, the FDIC seized Guaranty Bank, a big Texas lender, and sold most of its operations to the U.S. division of Banco Bilbao Vizcaya Argentaria SA, Spain's second-largest bank. Guaranty was the second-biggest U.S. bank to fail this year, with about $13 billion in assets. Its sale marked the first time during the crisis that a foreign bank had bought a failed U.S. institution.

In the FDIC policy as proposed, the most important requirement is for private equity investors to maintain enough cash in the banks they acquire, as measured by its capital leverage ratio. The ratio is a measure of health, reflecting a bank's capital divided by its assets.

Investors would have to maintain a ratio of at least 15 percent for three years. Most banks have ratios lower than that. Citigroup Inc., for example, had a reported ratio of around 9 percent as of June 30. The mandate could be reduced to 10 percent or lower in the final rules, the people familiar with the issue say.

A private equity role in the FDIC's resolution of failed banks would be in addition to private investors' participation in a Treasury program to buy banks' bad mortgage-backed assets. That program is intended to relieve banks of up to $40 billion of these assets, whose value plummeted with real estate prices.

But some analysts question whether this program will provide much benefit. Rising unemployment and loan defaults appear to have surpassed soured bank securities as threats to the financial sector.

AP - 26 Agustus 2009 10:11:28 by Marcy Gordon Read More...

Top-Seeded Davydenko Advances at Pilot Pen

Top-seeded Nikolay Davydenko defated American Robert Kendrick 7-6 (10), 6-3 Tuesday at the Pilot Pen tournament.

Davydenko struggled with Kendrick's serves, which occasionally topped 130 mph. But he used a strong backhand return up 11-10 in the first-set tiebreaker that Kendrick put into the net.

"He put it right at my feet," Kendrick said. "I deserved it, I should have served to his forehand."

Davydenko broke Kendrick at love to go up 5-3 in the second set and served out the match.

The Russian is ranked No. 8, despite missing most of the spring with a heel injury. He said he hopes to do more than just get his game in shape for next week's U.S. Open.

"For me, it's important winning matches also here," he said. "If I'm winning (the) tournament, I'm making points here....for me, it's important for the ranking."

Davydenko was the third Russian man to beat an American on Tuesday.

Taylor Dent lost to Igor Kunitsyn in straight sets 6-3, 6-4 and Kevin Kim lost to Igor Andreev 6-3, 6-1.

Second-seeded Fernando Verdasco of Spain also advanced with a 6-0, 6-3 win over Paul Capdeville.

In the women's draw, Australian Samantha Stosur needed nearly 3 hours to eliminate Frenchwoman Alize Cornet, 6-7 (8), 6-2, 6-4 in her first-round match.

"It was a bit of a battle out there," Stosur said "I got through the second set pretty quick and then started to feel better about things. The third was pretty tight. I was pleased with the way I was able to get out of it and come back from a set down."

Third-seeded Flavia Pennetta had a much easier time, defeating Ioana Raluca Olaru of Romania 6-1, 6-2.

Marion Bartoli defeat Maria Jose Martinez Sanchez 4-6, 6-3, 6-1.

Defending champion Caroline Wozniacki was scheduled to play her first match Tuesday night against Carla Suarez-Navarro.

AP - 26 Agustus 2009 10:36:03 by Pat Eaton-Robb Read More...

Chris Brown's Sentencing Moved Up

Prosecutors say Chris Brown's sentencing for beating Rihanna has been moved up at his lawyer's request.

Brown was scheduled to be sentenced on Thursday, but the hearing has been rescheduled for Tuesday afternoon.

Brown is expected to receive five years of probation and six months of community labor.

His sentencing earlier this month was delayed after a judge learned that authorities in Virginia, where Brown wants to serve probation, hadn't yet agreed to a probation plan.

Brown pleaded guilty to assaulting Rihanna in June. He was arrested after the pair fought hours before February's Grammys.

Brown's attorney, Mark Geragos, said Tuesday that he did not expect there to be any more problems with the sentencing.

AP - 25 Agustus 2009 19:39:47 Read More...

How Interest Rates are Determined

You need to know how to calculate the interest you'll get by leaving your money on deposit for a certain amount of time, but it's also good to know how financial institutions arrive at the interest rates they advertise.

Interest rates are affected by a number of factors. The Federal Reserve, which is charged with maintaining the stability of the nation's financial system, raises or lowers short-term interest rates in an effort to maintain that stability. The Fed regularly takes these actions in response to economic ups and downs that the country goes through on a fairly routine basis.

Regular interest rate adjustments

When the economy is growing -- companies are profitable, unemployment is low, and consumers are spending money -- short-term rates are raised to keep the economy from building too fast and risking inflation. Inflation is when too much money chases too few goods and services, driving prices upward. Raising interest rates slows the economy. Higher interest rates mean higher borrowing costs for individuals and businesses; and that usually means there's less money to spend elsewhere.

The Fed will lower short-term rates when the economy is contracting -- or slowing. Lowering rates makes it less expensive to borrow money. Consumers and businesses can afford to buy more products and services. That speeds up the economy, keeps people employed, and keeps the economy from sinking into a recession. A recession occurs when consumers get tight-fisted with their money and don't buy the products and services that keep companies afloat and workers employed.

When the Fed cuts short-term rates it is cutting the rate that banks charge each other to borrow money. Those cuts are eventually passed on to businesses and consumers. The same thing happens in reverse when the Fed raises short-term rates.

Other factors and their impacts

Other factors affect interest rates, too, but on a more irregular basis. A crisis involving the foreign oil-producing nations, for example, could have a major economic impact that could affect interest rates.

Long-term interest rates aren't affected as quickly by economic conditions as are short-term rates, but there is a trickle-down factor and they reflect the impact eventually.

What works for you as a saver works against you as a borrower. When rates are high, you're earning a hefty amount of interest for your deposits, but you're going to pay a high interest rate if you need to borrow.

When rates fall, you don't get much interest on your savings, but it's a lot cheaper to borrow money.

Bankrate.com - by Laura Bruce Read More...

PS3 Slim Announced for Release Date on September 1, 2009

Sony has confirmed the PlayStation 3 Slim console for release on September 1st, 2009! The slim version was just announced at the Sony press conference at GamesCom 2009!

Kaz Hirai, President and CEO of Sony, had this to say: “Today is the day we introduce the PS3 Slim, available in stores from the first week of September.”

The new console is a lot slimmer as you can see in the pic. It is 32% smaller, 36% lighter and uses 34% less power consumption. It will include at 120GB hard drive inside. In addition to being smaller, it is darker and without the reflective sheen. And looks about half the width.

Due to its focus on delivering games and other entertainment content, different from previous PS3 systems, users will not be able to install other Operating Systems to the new PS3 Slim system.

In addition, Sony also officially announced a PlayStation 3 price cut which will go into effect tomorrow (August 19th, 2009).

The prices are as follows per region:
# $299 in North America,
# €299 in Europe,
# 29,980 Yen in Japan.

Read More...

Is Apple's Snow Leopard Set for an Early Release?

Apple’s US and UK websites reportedly published information today that said its next operating system Snow Leopard would be available a few days earlier than expected.

A variety of websites and publications have published screen shots showing the OS would be available 28 August, when it isn't expected until September.

Apple has now changed the date back to September, leading to speculation that it was simply a mistake.

Apple refused to comment on the story.

The new OS will cost just $29 for an upgrade copy and come preinstalled on new Macs from next month.

Snow Leopard will support Exchange out of the box, so there's no need to use Entourage anymore. Apple also claims it's new OS will be speedier and feature better search.

IT PRO - by Richard Goodwin, 21 Aug 2009 at 17:36 Read More...

8 Major Benefits of New Credit Card Law

On May 22, President Barack Obama signed the Credit Card Accountability, Responsibility and Disclosure, or Credit CARD, Act of 2009 into law. The legislation will improve consumer disclosures and end some egregious practices in the credit card industry but stops short of capping interest rates and fees. Most of the provisions go into effect Feb. 22, 2010, unless otherwise stated.

Here's an overview of the major changes the law will enact.

1. Retroactive rate increases
Issuers can't raise rates on an existing balance unless a promotional rate expired, the variable indexed rate increased or you paid late by 60 days or more. No longer will they be able to punish borrowers for late payments on unrelated accounts under the practice of universal default or due to "anytime, any reason" clauses.

If the cardholder does trigger the default rate because of a 60-day delinquency, the bank must restore the lower rate once the cardholder demonstrates six months of consecutive on-time payments. This provision takes effect in August 2009.

In general, rates can't be raised in the first year after issuance, and promotional rates must last at least six months. Exceptions include expiration of a promotional rate, termination or completion of a workout plan, a change in the index rate or a 60-day delinquency.

Caveat: Issuers can raise rates at any time for any reason on new balances with 45 days' advance notice. Cardholders will still need to read correspondence from their creditors.

2. More advance notice of rate hikes
Consumers get 45 days' notice before key contract changes take effect, including rate increases. Under the current Truth in Lending Act, cardholders only receive a 15-day heads up. This change takes effect Aug. 20, 2009.

Caveat: This provision doesn't apply to credit limit changes. If your issuer slashes your limit, notification isn't necessary unless the reduction would trigger a penalty, such as an overlimit fee.

The new rules also don't cap interest rates. The increased rate can still be triple your existing APR.

3. Fee restrictions
Cardholders will not face overlimit fees unless they elect to allow the creditor to approve overlimit transactions. Issuers can't charge more than one overlimit fee per billing cycle.

In general, banks can't charge consumers a fee to pay their credit card debt, a cost some cardholders encounter for payments made by telephone or Internet. They can impose a fee to expedite a payment.

Payments received by the due date -- or the next business day, if the bank doesn't accept mailed payments on the due date -- won't trigger a late fee. If the cardholder pays at a local branch, the payment must be credited the same day.

The new law limits fees on "fee-harvester" subprime cards as well. In the first year after issuance, nonpenalty fees cannot take up more than 25 percent of the initial credit limit.

4. Restricts card issuance to students
Consumers under age 21 who can't prove an independent means of income or provide the signature of a co-signer aged 21 or older won't get approved for credit cards. The provision protects young people who lack the means or the knowledge to handle credit cards from miring themselves into debt, but could backfire by pushing students to payday lenders and pawnshops, says Greg McBride, senior financial analyst at Bankrate.com.

According to a recent Sallie Mae study, college students carried an average balance of $3,173 on their credit cards last year, a record high since the first analysis in 1998. A whopping 82 percent revolved a balance each month.

5. Ends double-cycle billing
The new law bans double-cycle billing, the practice of basing finance charges on the current and previous balance. Under this method, the issuer could charge interest on debt already paid off the previous month.

6. Fairer payment allocation
A close look at your card agreement will likely reveal a clause that explains that payments will be applied to lower-rate balances first. Not so anymore. The Credit CARD Act requires above-the-minimum payments to be applied first to the credit card balance with the highest interest rate.

7. More time to pay
Card companies must send statements 21 days before a payment is due. Current law requires a mere 14 days' notice. This provision goes into effect Aug. 20, 2009.

8. Gift card protections
The legislation includes protections for gift cardholders. The new law prohibits gift cards from expiring for at least five years. Issuer cannot assess inactivity fees unless the card has gone unused for 12 months.

Bankrate.com - by Leslie McFadden Read More...

7 Ways to Save Cash on a Job Hunt

When searching for a new job, it's essential to make a good impression. But for those who are unemployed or just starting their careers, finding the money for a first-class job search can be difficult.

Fortunately, smart candidates can still put their best foot forward without blowing a bundle.

"When you're on a shoestring budget, you have to be creative to get the help you need," says Markell Steele, owner of Futures In Motion, a career counseling service in Long Beach, Calif.

Marc Dorio, author of "The Complete Idiot's Guide to the Perfect Job Interview," says that if job seekers plan in advance, it is possible to find work without becoming panicky about money.

"Start by making a budget," he says. "For income, include any severance you got from your last job, plus unemployment funds, plus any money you've already saved."

Next, he suggests looking for ways to save money while you're looking to be hired.

Here are seven savvy tips career experts suggest for stretching your dollars while job hunting.

1. Barter for job search assistance
If you need career coaching but don't have the cash to pay for it, Steele suggests asking if the coach would be willing to barter something of value in exchange for career advice.

"Figure out a way for you and a career coach to work with each other," she says. "If you're qualified, you could offer anything from bookkeeping assistance to secretarial help to marketing assistance."

Steele reports good success with job seekers who've bartered services with her.

"They've come to me and said, 'I can't pay your full rate right now, but could you give me an hour of consultation in exchange for an hour of administrative support?' And yes, I've taken them up on the offer," she says.

Another way to barter is to trade your volunteer time for admission into a networking event.

"Trade meetings are crucial for meeting people in your industry, but those luncheons and dinners can be pricey," says Steele.

"Approach the event handlers and see if there are opportunities for volunteers," she says. "You may be able to manage the attendee check-in desk, or handle some aspect of the planning, all in exchange for a free or reduced price."

An additional benefit to volunteering time at industry events is that you may rub shoulders with decision makers, an opportunity that might not be available otherwise for any amount of money.

2. Visit the local library
People generally know there's a lot of research information at the local library, but few job candidates have a grasp of the wealth of resources available for them, Dorio says.

Libraries have subscriptions to paid online databases, and you can use this information for free. You can also access the Internet at no cost when doing company research. And don't forget the free books on everything from resume writing to successful interview techniques.

"The more your reference librarian knows about you and your specific needs, the more he or she can help you find information directly related to your job search," Dorio says. "The best tool you can have in your repertoire is your library card."

Along with visiting your county or city library, stop by local college libraries. People don't necessarily have to be students to access an institution's media services, Steele says. You don't need to live near a major research university to take advantage of school libraries, either. Community and junior colleges can be good local resources.

3. Visit low-cost community job centers
To save money on skill-building, get in touch with the job training and one-stop career centers funded by your local government, Dorio says. These centers offer computer and Internet access, as well as photocopy services.

They may also offer training in specific office skills at a low or reduced rate. That's important because if you don't have the specific skill sets mentioned in a job description, you're probably wasting time and money applying for that position, says Janice Litvin, director of Micro Search SF, an executive search firm in Walnut Creek, Calif.

"Career counselors advise you to focus on jobs for which you are absolutely qualified," she says.

If the center teaches a specific skill you need -- such as word processing, learning a spreadsheet program or graphic design expertise -- take advantage of the opportunity to increase your chances of being hired.

Contact your state's department of labor to locate centers in your area.

Another good source for help is your alma mater. Dorio suggests visiting your school's career center, even if you graduated many years ago.

"College alumni centers have lots of job resources, both in-office and online," he says. "They have personnel who can help with resume preparation, networking and putting you in touch with other alumni to support your search efforts."

Look for informal job search groups, too. With these organizations, people come together about once a week to share ideas, resources and experiences without requiring you to spend a lot of money, Dorio says.

The group can keep you accountable in your search, offer encouragement and provide an informal critique, such as double-checking your resume for typos.

"These support groups can help you stay motivated and may provide you with a tip that lands you your next job," Dorio says.

4. Group-related job hunting tasks
Cutting employment-related transportation costs can net major savings. Proper planning can minimize the amount of time and money you spend traveling.

"Plan your time so that one day you're making phone calls, the next day you're making copies and sending letters out and the next you're visiting potential employers," says Dorio.

Litvin adds a related tip: Try to schedule interviews during slower periods of the work day, if possible.

"Interviewing during nonrush-hour times helps you save on gas by dealing with less traffic," she says.

5. Use free and low-cost Internet and phone services
It's crucial to have online access when looking for work. The Internet allows you to research companies and get access to job-hunting Web sites. But if you don't have the budget for costly Internet service, consider dropping it in favor of using the Internet for free at places such as the library or a local job center, Steele says.

You can also sign up for free e-mail accounts, such as Hotmail or Google Gmail, Litvin says.

"Having this type of account might demonstrate that a candidate is computer savvy and financially efficient," she says.

Regardless of which e-mail account you use, remember to keep your user name professional, Steele says.

"Stay with using something simple, such as your first and last name or something similar," she says. "Don't use a cutesy nickname."

Along with Internet service, evaluate your telephone plan to make sure you're getting the most value possible for the money.

Most candidates also need cell phone access and voice mail, so they're always available if an employer calls for an interview, Dorio says.

"Even so, shop around for the best deal, and consider dropping extra services you don't need," he says.

6. Pack your own lunch
Save a few dollars by packing your own lunch, Dorio says. Or at least bring along some snack bars.

"If you have several interviews scheduled, you could spend a lot of money stopping by restaurants to get something to eat after each meeting," Dorio says.

7. Save your receipts
Whenever you spend money on your job search, save all receipts -- you may need them at tax time.

"Many of the fees related to your job search could be tax-deductible," Dorio says.

Such fees include the cost of preparing and mailing resumes and expenses related to employee outplacement services and travel. Be sure to record your mileage for each trip, including starting and ending odometer readings.

There are a few caveats to the tax deductions. You have to be looking for work in your current occupation, and you shouldn't have been out of work for a substantially long period of time.

"Become acquainted with IRS Publication 529 because it explains in detail which job search expenses can be deducted from your taxes, and what the requirements are," Dorio says.

Bankrate.com - by Margarette Burnette Read More...

When is Ramadan in 2009?

Ramadan in 2009 will start on Friday, the 21st of August and will continue for 30 days until Saturday, the 19th of September.

Based on sightability in North America, in 2009 Ramadan will start in North America a day later - on Saturday, the 22nd of August.

Note that in the Muslim calander, a holiday begins on the sunset of the previous day, so observing Muslims will celebrate Ramadan on the sunset of Thursday, the 20th of August.

Although Ramadan is always on the same day of the Islamic calendar, the date on the Gregorian calendar varies from year to year, since the Gregorian calendar is a solar calendar and the Islamic calendar is a lunar calendar. This difference means Ramadan moves in the Gregorian calendar approximately 11 days every year. The date of Ramadan may also vary from country to country depending on whether the moon has been sighted or not.

The dates provided here are based on the dates adopted by the Fiqh Council of North America for the celebration of Ramadan. Note that these dates are based on astronomical calculations to affirm each date, and not on the actual sighting of the moon with the naked eyes. This approach is accepted by many, but is still being hotly debated.

Read More...

Next Space Shuttle Launch Set for Next Week

NASA will try to launch Discovery to the international space station next week, less than a month after the last shuttle mission.

Senior officials set Tuesday as the launch date following a two-day flight review that ended Wednesday. Hours later, the seven astronauts flew in from Houston.

Discovery and its crew will haul equipment and supplies to the space station, including a new treadmill named after Comedy Central's Stephen Colbert. Earlier this year, the TV comedian tried to get a future space station chamber named after him. NASA chose Tranquility instead -- after the Apollo 11 moon base -- and Colbert had to settle for the treadmill.

Much of the discussion during the review focused on the unusually large amount of foam insulation that came off the fuel tank during last month's launch of Endeavour.

NASA conducted a series of tests on Discovery's fuel tank to make sure the foam was attached securely to its midsection, where it peeled off in strips last month. Another area of concern, where foam wedges cover brackets for pressurization lines, was more complicated to check. Foam came off that area during the last two shuttle launches.

On Wednesday, eight or so engineers proposed further testing and even repairs, which would have bumped Discovery's flight into October. But in the end, managers found Discovery's tank acceptable and decided unanimously to proceed with a Tuesday launch, and no one appealed, said Bill Gerstenmaier, head of space operations.

Even though NASA was perplexed by the amount of foam that broke off Endeavour's tank during liftoff last month -- the shuttle received only minor damage -- it was a small fraction of the size of the slab that tore into Columbia's wing in 2003. Columbia was destroyed during re-entry because of the gash.

"That's how close we're looking. That's how sensitive we are" to foam loss, shuttle program manager John Shannon said. "I feel extremely good about the results of the meeting. I think we have done absolute due diligence on the foam piece of it."

The only outstanding problem -- which will be addressed during one final review on Sunday -- is a failed power controller in Discovery that had to be replaced over the weekend.

Another pop culture tidbit about Discovery's 13-day mission: a Buzz Lightyear toy that flew to the space station in spring 2008 will be returning aboard the shuttle. Walt Disney World helped arrange the trip "to infinity and beyond" for the 12-inch action figure, as part of NASA's toys-in-space educational program.

Liftoff time will be 1:36 a.m. Tuesday.

AP - 20 Agustus 2009 15:39:59 by Marcia Dunn.
on the net: http://www.nasa.gov/mission(underscore)pages/shuttle/main/index.html Read More...

BJ's Wholesale 2Q Profit Drops but Beats Estimates

BJ's Wholesale Club said Wednesday that wet weather, food deflation and weak consumer spending hurt its second-quarter results, but the warehouse club chain beat analysts' estimates and raised its full-year profit outlook.

The Natick, Mass.-based company earned $35.1 million, or 64 cents per share, for the quarter ended Aug. 1, down from $36.5 million, or 61 cents per share, a year earlier. The year-ago results were boosted by a $2 million income-tax settlement that added 3 cents per share.

Revenue fell roughly 5 percent to $2.57 billion.

Analysts surveyed by Thomson Reuters had forecast profit of 62 cents per share on revenue of $2.56 billion, on average.

BJ's CEO Laura Sen said low prices continue to be a draw for consumers trying to stretch their budgets. And despite lower prices for meat, milk and other commodity-driven products, the company increased its sales of food and other consumable items.

BJ's also benefited from more cost controls and improved margins during the quarter.

Shoppers have increasingly turned to warehouse clubs like BJ's during the economic downturn for lower prices on food and other items they use every day. But the weight of the recession and lower gas prices continued to be a drag on the retailer as total sales dropped 5 percent to $2.51 billion.

BJ's reported that sales of discretionary items like electronics, jewelry and seasonal items suffered, while sales of cereal, meat and household items remained strong.

Same-store sales fell 7.7 percent during the quarter due to lower revenue from gasoline. Excluding gasoline, the figure increased 2.9 percent.

Same-store sales -- sales at stores open at least a year -- are considered a key indicator of a retailer's health because they measure sales at existing stores and exclude the effects of expansion.

Stifel Nicolaus & Co. analyst Thomas Shaw said that BJ's margins in its core business remain strong but it's unclear yet if that is due to competitive pricing or failure to maintain proper margin controls in proper years and now just benefiting from the change in approach. Shaw increased profit estimates for the full 2009 fiscal year from $2.43 to $2.58, anticipating continued margin and operating cost improvements.

Looking forward, the company said deflation will continue to be a challenge for the third and fourth quarter and that it anticipates consumers will continue to keep tight controls on their spending through the holiday season. But BJ's said it expects solid margins for the year and raised its full-year earnings guidance to $2.46 to $2.56 per share from $2.44 to $2.54 per share.

Shares of BJ's rose 67 cents, or more than 2 percent, to close at $31.99 Wednesday.

AP - 20 Agustus 2009 12:49:55 by Sarah Skidmore
AP Writers Vinnee Tong and Michelle Chapman contributed to this report from New York.
Read More...

Venus, Serena to Own Part of Dolphins

Venus and Serena Williams have found a new sport: pro football.

The tennis-playing sisters will become the latest celebrities to own a stake in the Miami Dolphins, a person familiar with the deal said Wednesday. The person didn't want to be identified because the team plans an announcement Tuesday.

Another person close to the negotiations said an agreement was near but not yet final. That person also didn't want to be identified because the announcement has not been made.

"There have been preliminary talks, and hopefully it'll work out," Serena Williams said Wednesday night after a 6-3, 6-2 win over Yaroslava Shvedova in Toronto. "That would be a great opportunity for both of us. You never know. We'll see what happens."

The Williamses live in Palm Beach Gardens, Fla., about an hour's drive from the Dolphins' stadium. Their new role will be significant in part because the NFL has no African-American majority team owner.

Musicians Gloria and Emilio Estefan and Marc Anthony recently bought small shares of the team. New Dolphins owner Stephen Ross also forged a partnership with singer Jimmy Buffett.

The Dolphins have said the involvement of the celebrities reflects the diversity of South Florida and shows that the franchise is connected with the community.

"There's always so many opportunities out there, and Venus and I are always trying to expand our brand and do the best that we can do, and if an opportunity presents itself, we would love to see where it can take us," Serena Williams said. "Who knows what's going to happen, but hopefully we'll be able to hopefully continue to expand our brand."

A Dolphins spokesman said the team had no comment regarding next week's announcement.

The Williams sisters have combined to win 18 Grand Slam titles, and they staged their latest sibling showdown last month at Wimbledon, where Serena beat Venus in the final.

Serena has won 11 major titles and Venus seven.

Ross, a New York real estate billionaire, completed his purchase of the Dolphins from Wayne Huizenga in January and began a partnership in May with Buffett. The agreement with the Estefans was announced in June, followed by the deal with Anthony last month.

Buffett and the Estefans are longtime Dolphins fans. The Williams sisters aren't known to closely follow the Dolphins or the NFL.

Ross has said the minority owners are strategic partners and aren't being brought aboard because of a financial need. He has pledged to improve the fan experience at games, and the celebrities will help -- although it's unlikely the sisters will be staging tennis exhibitions at halftime.

Buffett has yet to accept Ross' invitation to become a minority owner, but the Dolphins' stadium has been renamed Land Shark Stadium for this season. Buffett has written a song for the Dolphins, and they've introduced a new version of their fight song by the rapper T-Pain.

Anthony will perform the national anthem when the Dolphins host the New York Jets on ESPN's "Monday Night Football" on Oct. 12.

AP - 20 Agustus 2009 18:14:15 by Steven Wine
AP Tennis Writer Howard Fendrich in Ashburn, Va., contributed to this report.
Read More...

Leno: Ready to Become Star-Maker on New NBC Show

Jay Leno said he's looking forward to being a star-maker for young comedians on his new prime-time show.

"The Jay Leno Show," airing at 10 p.m. EDT weekdays starting Sept. 14, will include taped pieces from comics including Liz Feldman, Mikey Day and Rachael Harris, Leno told reporters Wednesday.

"I hope people become famous and get offered shows," Leno said. If he someday hears, "'Jay, we're replacing you with the guy you discovered,'" that would be great, Leno said.

But it's not just men who will be spotlighted -- or, as Leno put it, "a bunch of white guys doing standup."

"I think we have a diverse group. It looks like America," he said, with women, African-Americans including D.L. Hughley, and other minorities.

Among the segments in production: Feldman teaching older people how to use Twitter, and Hughley suggesting bake sales and other fundraisers for California's fiscal woes.

It's a new approach to showcasing comedians who have been a staple on talk shows, Leno said. He recalled seeing their standup routines on "Tonight" as a youngster and then performing on the show when he was making his own name.

But within the last decade or so, he said, standup started to lose its "snap" on talk shows.

He'll still do a monologue to open the hour and other comedians will perform as well as he seeks to "mix it up" on his show, details of which were still being hashed out.

There will be a "10 at 10" feature, with "ridiculous, celebrity-based questions" for stars and newsmakers, Leno said.

His new studio is on the same lot where Leno hosted "Tonight" for 17 years, until Conan O'Brien took over in June.

"The Jay Leno Show" will debut with Jerry Seinfeld and a musical performance by Jay-Z, Rihanna and Kanye West.

AP - 20 Agustus 2009 18:00:00 by Lynn Elber
on the web: http://www.nbc.com Read More...

Dell Confirms it is Making its First Moves Into the Lucrative Smartphone Market

Dell confirmed it is working with operator China Mobile on development of a handset, after websites published pictures of what looks like a new Dell smartphone aimed at the Chinese market.

Mobile phone website Boy Genius published slightly blurry pictures of a Dell-branded Android smartphone together with specifications, while a Chinese website called mobile.163.com published slightly clearer ones of what it called the ‘Mini 3i’.

The Chinese report claimed it would run the Android-based Open Mobile System (OMS). It also said the Mini 3i is not 3G enabled.

It reportedly has a 3.5-inch touchscreen, 3 million-pixel camera, a MicroSD card slot and Bluetooth, as well as an on-screen QWERTY keyboard.

The pictures from mobile.163.com were said to have been part of a China Mobile launch. It’s not clear when or if the Dell smartphone will be available to buy outside of China.

Although Dell would not comment directly on the story, the Wall Street Journal quoted a China Mobile spokeswoman as saying the Dell Mini 3i supported its new online platform, which offered downloads to mobile phones.

IT PRO - by Asavin Wattanajantra, 17 Aug 2009 at 12:32 Read More...

Gunfire Erupts in Kabul Ahead of Presidential Vote

Gunfire and explosions reverberated through the heart of the Afghan capital Wednesday on the eve of the presidential election and a day after insurgents fired at the presidential palace and unleashed a suicide car bomb on a NATO convoy in Kabul.

Three or four armed men took over a branch of the Pashtani bank early Wednesday in a section of Kabul's old city still in ruins from the country's 1990s civil war, said Interior Ministry spokesman Zemeri Bashary.

Police surrounded the building, exchanging gunfire with the attackers. Bashary said there had been no casualties, but the sound of scattered gunfire and small explosions reverberated through the city for several hours. Few civilians were in the area because government ministries and businesses were closed Wednesday in observance of Afghanistan's independence day celebration from British rule.

Taliban spokesman Zabiullah Mujahid said 20 armed suicide attackers wearing explosive vests had entered Kabul and that five of them were battling police. The claim could not be confirmed, but the Taliban in recent months have often unleashed attacks involving teams of insurgents attacking government or high-profile sites.

The latest attacks were an ominous sign that the Taliban and their militant allies are determined to disrupt Thursday's election, in which incumbent President Hamid Karzai is up against some three dozen other presidential candidates. The Islamist insurgents have threatened those who take part in the election -- a crucial step in President Barack Obama's campaign to turn around the deteriorating war.

U.S. Secretary of State Hillary Rodham Clinton said Tuesday that the rise in insurgent violence in Afghanistan reflected a deliberate campaign to intimidate voters. A shopkeeper near Wednesday's gunfire attack in Kabul, Abdul Jalal, said that if violence persisted into Thursday, he and his wife would not vote.

"Tomorrow we plan to go the polling center," said Jalal. "But if it was like today, we will not vote. Elections are a good thing for Afghanistan, but security is more important."

U.N. Secretery-General Ban Ki-moon encouraged all Afghans to vote and said that by participating in the election Afghans will help "bring fresh vigor to the country's political life, and ultimately reaffirm their commitment to contribute to the peace and prosperity of their nation."

The next president will face challenges on several fronts: the rising Taliban insurgency, internal political divisions, ethnic tensions, unemployment, the country's drug trade and corruption.

Karzai is favored to win, but if he does not get more than 50 percent of Thursday's vote he and the second-place finisher will face off in an October run-off. Polls show Karzai's former foreign minister, Abdullah Abdullah, in second place with around 25 percent support. Polls have shown Karzai's support around 45 percent.

In a bid to promote a big voter turnout, the NATO-led military force announced Tuesday that the more than 100,000 international troops here will refrain from offensive operations on election day, focusing instead on protecting voters.

Fearing that violence may dampen turnout, the Foreign Ministry issued a statement Tuesday asking news organizations to avoid "broadcasting any incidence of violence" between 6 a.m. and 8 p.m. on election day "to ensure the wide participation of the Afghan people." The statement did not spell out any penalties for those who do not comply.

The English version said media "are requested" to follow the guidelines. The version in the Afghan language Dari said broadcasting news or video from a "terrorist attack" was "strictly forbidden."

It was unclear how the government intended to enforce the ban. Rachel Reid, the Afghanistan researcher for Human Rights Watch, said freedom of expression was enshrined in the Afghan Constitution and that any attempt to censor the reporting would be "an unreasonable violation of press freedoms."

"Afghans have a right to know about the security threats that they face, and make their own assessments about security," Reid said.

Despite heightened security in Kabul and other major cities, a series of attacks in the capital, starting with a suicide bombing Saturday that killed seven people near the main gate of NATO headquarters, has raised doubts that Afghan authorities can guarantee security on election day.

Eight people died, including a NATO soldier, and about 50 were wounded in the suicide bomb attack on a NATO convoy in Kabul on Tuesday, authorities said. In eastern Afghanistan, two U.S. service members were killed and three wounded in a separate bombing, the U.S. military announced, pushing the death toll this month for the American force to 26.

AP - 19 Agustus 2009 20:02:10 by Amir Shah Read More...

2009 Tesla Roadster Quick Test

The strangest thing about driving an electric car has got to be the near silence. Turn the key and instead of a cranking starter and a burst of energy and exhaust, there’s just a Playstation-like tone that says you’re ready. Select drive, release the parking brake and off you go... in silence.

In all other ways, the all-electric Tesla Roadster makes a lot of noise with its incredible performance. Motivation comes from a 3-phase, 4-pole AC induction motor coupled to a single speed Borg-Warner transaxle - all designed by Tesla.

Built in England, the Tesla’s chassis is based on that of the lightweight Lotus Elise. The Tesla carries a few hundred pounds more however - due mainly to its 6831 batteries. Still, the two cars handle similarly, that is, until you approach their limits, whereupon the extra weight of the Tesla will make itself felt.

Throttle response is unlike anything you’ve experienced before. Because an electric motor produces maximum torque at zero RPM, this thing just LAUNCHES when you squeeze the power, shattering old perceptions of electric cars’ limited performance with a 3.9-second 0-60 clocking.

At speed, there is not much else besides wind and tire noise, but perhaps the most interesting sound comes as you slow down:

It’s an electrical buzz from the drivetrain as the car slows to a stop that is part Jetsons, part turbine, and all very cool.

That jet turbine sound is audible confirmation the performance is there, but what about the range? Tesla tells us the range on the EPA cycle is around 220 miles. Driven enthusiastically, the Roadster will roll in the vicinity of 140-150 miles before needing an eight-hour charge.

Negatives? There are some: The $109K price of entry for one; the compromises inherent in a two-seat, mid-engined car - lack of storage space and general impracticality - for two.

And then there’s battery life. Tesla says they’ll last about five years or 100,000 miles, after which you’ll need to replace them at a not-insignificant cost.

The most glaring stigma facing electric vehicles to date has involved their styling. Here the Tesla Roadster will not only make you think twice but look twice as well.

Named for Nikola Tesla, a pioneer of electronic engineering with accomplishments on par with Edison, Westinghouse and Bell, the all-electric Tesla Roadster clearly demonstrates that sportscar enthusiasts have little reason to fear the future.

It’s an attractive two-seater and nothing short of a game-changer in terms of electric vehicles and the somewhat negative image they have in the eyes of automotive enthusiasts.

The Tesla’s silent performance and sleek lines foreshadow an automotive world where the stigma of past electric vehicles no longer exists. And this - making alternative power sexy - is perhaps its greatest achievement.

It walks softly - and silently - but carries a big stick.

Performance
- Acceleration: Impressive acceleration made more so by the total lack of engine/drivetrain noise
- Handling: Not quite as well resolved as the Lotus Elise it's based on - too softly sprung at the rear - extra weight of battery pack and electric motor clearly evident
- Braking: Again, the extra weight over the Elise means that the brakes are only just enough - balance is still excellent, better in a straight line even given the added mass over the rear tires

Design
- Exterior: Electric car correct, although a bit dull compared to other mid-engined sportscars - simplicity is better in person than in photographs
- Interior: One area where it betters the Lotus - Spartan, but well done

Utility
- Comfort: Ingress/egress aside, surprisingly comfy once you're seated - good ride quality given its handling
- Space: Tiny footprint leaves only a small carbon fiber cubby at the rear - pack lightly

Safety
- Dynamics: Soft springing means that energy return is considerable once you've loaded the chassis up one way - no stability control to help out...
- Technology: Airbags and ABS, but again, no electronic stability system

Value
- Price: At $100k, its tough to justify - as a pioneering electric vehicle, it gets easier
- Mileage: Relative to fuel used, it's off the charts! Range (more relevant) is decent if you don't plan on cross-country ventures, or if you can resist the addictive acceleration

Emotional Appeal
- Heart thumpin' factor: High due to exotic car styling, performance and exclusivity
- Fun to spank: As long as you've got it charged up... it's SHOCKINGLY FUN!

SPECIFICATIONS

Layout: Mid motor/battery / rear-wheel drive
Engine: 375 volt AC induction air-cooled electric motor with variable frequency drive
Power (SAE): 300 hp (estimated)
Torque: 300 lbs.-ft. (estimated)
Transmission: 1 speed fixed gear
Curb Weight: 2723 lbs.
0-60 mph: 3.9 sec. 1/4 mile : n/a
Top Speed: 125 mph (electronically limited)
Mileage (mpg): n/a
Base Price: $109,000 (est.)
Competitors: Hyabusa-engined smart fortwo, Yamaha YZF R1, Toyota Prius with JATO package.

Review by Emile Bouret Read More...

Inflation a No-Show in July, Likely to Stay Muted

Inflation was a no-show in July and likely will stay away for months to come, giving the Federal Reserve room to keep invigorating the economy with record-low interest rates.

That was the message economists took from a report Tuesday that wholesale prices fell over the past 12 months by the sharpest amount in 62 years of record-keeping -- the latest sign that inflation is posing no threat.

"In this economy, there really is no pricing power at all," said Brian Bethune, chief U.S. financial economist at IHS Global Insight.

The Labor Department said wholesale prices sank 0.9 percent in July, triple the decline that economists had expected. Over the past year, wholesale prices have dropped 6.8 percent. That's the biggest drop in records dating to 1947.

A steep decline in energy prices drove the overall drop. But even apart from energy and food prices, which tend to be volatile, inflation was calm. The so-called "core" inflation rate for wholesale goods -- excluding food and energy -- fell 0.1 percent in July. And over the past 12 months, the core rate has ticked up a moderate 2.6 percent.

Economists expect inflation to remain tame as the economy struggles to mount a sustained recovery. High unemployment, wary shoppers and tight credit imposed by a banking system still reeling from the financial crisis have kept a lid on prices.

"There is little reason to think that inflation will get out of control any time soon," said Joel Naroff, chief economist at Naroff Economic Advisors.

Tuesday's report on wholesale prices was just the latest sign. Last week, the government said the Consumer Price Index was unchanged in July. And over the past 12 months, the CPI fell 2.1 percent, the biggest decline in nearly 60 years. Excluding food and energy, consumer prices posted a moderate 1.5 percent rise over the past year, well within the Fed's comfort zone for inflation.

Once an economic recovery begins to take hold and retailers begin dropping the promotions they are now using to entice shoppers, Naroff said wholesale and consumer prices likely will turn back up. But Bethune said inflation pressures are unlikely to be a concern for at least a year.

Some may worry about deflation -- a dangerous period of falling prices that can also drive wages down. But most economists said deflation remains a remote threat. The last deflationary period in the U.S. occurred in the 1930s during the Great Depression.

"Deflation-worriers will find some cause for concern in the general picture, though the broad pattern remains one of gently oscillating monthly price changes," Pierre Ellis, senior economist at Decision Economics, wrote in a note to clients.

Last week, the Fed concluded a meeting by saying it expects "inflation will remain subdued for some time." It left a key interest rate at a record low near zero and said the sluggish economy would likely keep rates unusually low "for an extended period."

Many economists expect the Fed will keep its federal funds rate at its current level of zero to 0.25 percent for at least another year and possibly through 2010.

When the Fed does start raising rates, it will be with gradual increases, given the expectation for a slow and halting recovery, with little risk of serious inflation. Many economists think the jobless rate, now 9.4 percent, won't peak until sometime next summer, most likely above 10 percent. Rising unemployment leaves workers with little or no bargaining power to win pay increases.

On Wall Street, better-than-expected earnings reports from retailers Home Depot Inc. and Target Corp. helped bolster stocks. The Dow Jones industrial average added nearly 83 points to 9,217.94, following a 186-point drop on Monday triggered by lingering worries about consumer spending.

Also Tuesday, the Commerce Department said construction of homes and apartments fell 1 percent last month to a seasonally adjusted annual rate of 581,000 units. But the drop reflected weakness only in apartment construction. Economists were encouraged by the fifth straight monthly gain in single-family home building, a 1 percent rise that pushed such activity to its highest level since October.

The 0.9 percent fall in wholesale prices in July came after a 1.8 percent surge in June, which had been the biggest one-month increase since November 2007. Economists had viewed that gain as a temporary spike led by a jump in energy prices and not a sign of worrisome inflation.

For July, wholesale energy prices fell 2.4 percent, after having surged 6.6 percent in June. Food prices declined 1.5 percent, reversing a 1.1 percent rise in June. Big drops in gasoline and vegetable prices contributed to the declines.

The drop in core wholesale inflation reflected a 1.7 percent fall in prices for passenger cars. That was the biggest decline in car prices in nearly three years.

Economists say energy prices have leveled out and will remain stable for the rest of the year. Crude oil prices topped $72 a barrel in June and settled at about $69 per barrel Tuesday.

After hitting a record $147 a barrel in July 2008, oil prices slid for most of the rest of last year, a decline that trimmed earnings at oil companies. Major oil companies, including Exxon Mobil Corp., Chevron Corp., Royal Dutch Shell and French petroleum giant Total SA, have reported second-quarter profit declines of more than 50 percent.

AP - 19 Agustus 2009 10:12:06 by Martin Crutsinger Read More...

Jeter, Sabathia Lead Yankees Past A's 7-2

Derek Jeter had his third straight three-hit game and also knocked in the go-ahead run to help CC Sabathia win for the first time in six years in Oakland in the New York Yankees' 7-2 victory over the Athletics on Tuesday night.

Jeter's RBI single in the sixth inning against Jay Marshall (0-1) broke a 2-all tie and the Yankees went on to add four more runs that inning to snap a two-game losing streak.

Sabathia (14-7) grew up going to games at the Coliseum, but has always struggled pitching here with a 1-4 record and 7.12 ERA in eight starts before Tuesday. He had no such problems this game, winning his 10th straight August start and first in Oakland since July 30, 2003, with Cleveland.

Read More...

Consumer Spending Rises in June, Incomes Drop

Consumers opened their wallets and pocketbooks a bit more in June, increasing their spending for the second straight month while saving less, even as incomes fell sharply.

Consumer spending is closely watched because it accounts for about 70 percent of total economic activity. Many economists warned that despite the slight increase in June, falling wages and rising unemployment likely will keep spending sluggish for the rest of this year.

Still, the housing market continued to show signs of life as pending U.S. home sales rose in June for the fifth straight month, according to the National Association of Realtors. The group's pending home sales index rose more than expected to 94.6, from an upwardly revised reading of 91.3 in May. The last time there were five straight monthly gains was July 2003.

The Commerce Department said Tuesday that consumers boosted their spending 0.4 percent in June, slightly ahead of analysts' estimates. That comes after spending rose 0.1 percent in May.

Personal income fell 1.3 percent, the steepest drop in more than four years. Incomes rose by the same amount in May, boosted by one-time payments from the government. Economists expected personal incomes, the fuel for future spending, to fall 1 percent.

Incomes benefited in May from a one-time payment of $250 that was mailed to 50 million Americans receiving Social Security and other government benefits, as part of the Obama administration's $787 billion stimulus package.

Excluding the impact of the stimulus, personal income would have fallen 0.1 percent in June after a flat reading in May, the department said.

Wages and salaries fell 0.4 percent in June from May, the eighth straight monthly drop. That makes it unlikely consumers will ratchet up their spending anytime soon, economists said.

"The U.S. consumer will not be much of a help during the early stages of the economic recovery," Joshua Shapiro, chief U.S. economist at consulting firm MFR Inc., wrote in a note to clients.

Amid the longest recession since World War II, the personal savings rate has surged as Americans seek to rebuild their nest eggs after home values and stock portfolios plummeted last year. While saving can be good in the long run, rapid increases in saving can slow the economy.

The department said the personal savings rate fell to 4.6 percent in June, after jumping to 6.2 percent in May, which was the highest since February 1995. The rate dropped as low as 1 percent last year.

Spending may increase in July and August due to the government's "cash for clunkers" program, which has spurred thousands of Americans to trade in old cars for newer vehicles, Shapiro said. But the savings rate is likely to keep rising later this year.

Investors appeared unfazed by the economic report and focused on locking in some profits after a 14 percent climb in stocks since July 13. The Dow Jones industrial average lost about 15 points in morning trading, and broader indices also dipped.

The department also revised its spending and income data back to 1929, as it did last week when it reported second-quarter gross domestic product, the broadest measure of the economy's output. The changes show that Americans saved slightly more than previously thought.

For example, the department revised the savings rate in 2008 to 2.7 percent from 1.8 percent.

The government reported last week that the overall economy, as measured by the GDP, shrank at an annual rate of 1 percent in the second quarter, far less severe than the 6.4 percent decline in the first quarter and a 5.4 percent decline in the fourth quarter of 2008.

Sluggish consumer spending has held back the sales of food and beverage companies. Tyson Foods Inc., the world's largest meat producer, said Monday that sales fell 3 percent in its third quarter. The company posted a strong profit due to cost cuts.

And sales for MillerCoors, the U.S. joint venture owned by Molson Coors Brewing Co. and SABMiller, increased by only 1 percent in the most recent quarter, Molson Coors reported Monday.

AP - 05 Agustus 2009 4:27:08 by Christopher S. Rugaber



Read More...

Thomas Beats Orioles with Ninth-Inning Homer

Clete Thomas didn't know how to react after hitting his first game-winning homer. Thomas homered with two outs in the ninth inning to lift the Detroit Tigers to a 6-5 victory over the Baltimore Orioles on Monday night.

He hit a 1-2 fastball from Danys Baez (4-5) into the shrubs above the centerfield fence.

"I've never hit a walk-off homer before -- not at any level," he said. "When I was rounding first and realized it had gone out, I didn't know how to react. It feels better than you even think it will -- and that's something you always dream of doing."

The homer completed a rally from a 5-0 deficit. Justin Verlander allowed five runs before getting his second out, but didn't give up another in his eight innings of work.

"This is one of my favorite starts of my career," Verlander said. "In the past, I would have fallen apart -- when I struggled in the first, I would never make it out of the fourth. Tonight, I went eight and kept us in the game."

"To pitch the way he did after that first inning -- that just shows that he's one of the best pitchers in baseball," Tigers manager Jim Leyland said.

Fernando Rodney (2-2) pitched a scoreless ninth.

Orioles rookie Chris Tillman gave up five runs in six innings in his second career start.

Brian Roberts led off against Verlander with a homer, and the next three batters singled to load the bases.

Aubrey Huff made it 2-0 by grounding into a force at second before Ty Wigginton doubled in the third run and Luke Scott added a two-run double.

"After that, he was a completely different pitcher," Huff said.

Rays 10, Royals 4

At St. Petersburg, Fla., Carl Crawford had three hits and three RBIs for Tampa Bay.

Crawford, who stole his league-leading 49th base, went 3 for 3 against Kansas City starter Zack Greinke (10-7) after having just one hit in 16 previous at-bats against him.

Willy Aybar hit solo homers from both sides of the plate for the Rays, who won nine of 10 games in the season series with Kansas City. Aybar homered left-handed off Greinke in the fifth and went deep from the right side against Ron Mahay two innings later.

Greinke allowed six runs and 10 hits over five innings, and is 0-4 in six starts since his last win on June 28.

Tampa Bay's Scott Kazmir (6-6) gave up three runs and six hits in six-plus innings.

Athletics 3, Rangers 2

At Oakland, Calif., pinch-hitter Rajai Davis tripled down the right field line to drive in two runs in the bottom of the ninth inning and lift Oakland over Texas.

C.J. Wilson (4-5) blew his third save in 16 chances after allowing singles to Jack Cust, Tommy Everidge and Mark Ellis, before Davis' triple.

Mike Wuertz (6-1) pitched 1 1-3 innings.

Marlon Byrd drove in a run and Hank Blalock scored the game's first run on a double play for the Rangers.

A's starter Brett Anderson gave up six hits over 7 2-3 innings with eight strikeouts and three walks.

Dustin Nippert, who started in place of the injured Kevin Millwood, gave up one hit in five innings. He walked two and struck out five.

Neftali Feliz, one of the Rangers' top pitching prospects, made an impressive major league debut by striking out the side in the top of the sixth in relief of Nippert. He retired all six hitters he faced.

AP - 04 Agustus 2009 10:52:40
Read More...

Iran's Opposition Calls for Inauguration Protests

Iranian opposition groups called for a new round of street protests to coincide with the inauguration ceremony for President Mahmoud Ahmadinejad on Wednesday.

The pro-reform movement claims the June 12 election declared for Ahmadinejad was fraudulent and opposition leader Mir Hossein Mousavi was the real winner.

Several pro-reform blogs and Web sites, including some linked to Mousavi, appealed for demonstrators to gather in front of parliament, where Ahmadinejad is to be officially sworn in for a second term. They also called for protests at main markets in other cities around Iran.

Any protests will almost certainly be met by a heavy security presence, as the government has harshly cracked down on any opposition demonstrations over the disputed election.

At least 30 people have died in the unrest that followed the vote, according to figures from a parliamentary investigation, and hundreds have been detained. Human rights groups believe the death toll is likely far higher.

Ahmadinejad also faces discontent from fellow conservatives in Iran's ruling hierarchy over the harsh crackdowns and accusations that some of those detained in the unrest have been mistreated.

Ahmadinejad last month also opened a brief -- but potentially disruptive -- confrontation with the supreme leader's ruling theocracy by refusing to drop his top deputy, Esfandiar Rahim Mashai. Mashai had angered conservatives last year when he made friendly comments toward Israelis. But the president eventually relented and dropped Mashai.

Supreme Leader Ayatollah Ali Khamenei formally endorsed Ahmadinejad for a second term as president on Monday. Though both men were smiling, it was a noticeably cooler reception than four years ago, when Khamenei allowed Ahmadinejad to kiss his hand and then drew him close and kissed him on both cheeks.

Still, Khamenei has firmly backed Ahmadinejad as the election winner from the beginning of the dispute and continued to give him support.

When the president takes his oath of office on Wednesday, it will be before a parliament where many pro-reform lawmakers have echoed the claims of fraud in the election.

The calls for more street protests present the government with a serious challenge. It is eager to choke off the protest movement, but a harsh response by security forces could ignite another sustained wave of unrest.

Sporadic clashes broke out in north Tehran late Monday after security forces boosted patrols, witnesses said.

Many of Tuesday's protest appeals included instructions to shift the rallies to main squares if the security presence is too strong at the first sites.

They called for key opposition figures -- including Mousavi and his pro-reform election rival, Mahdi Karroubi -- to join the marches. It was not immediately clear whether they would attend.

In a sign of Iran's seemingly unbridgeable rifts, both men were among the list of no-shows at Monday's ceremony with the supreme leader.

Karroubi, in a newspaper interview published Tuesday, pledged that he and Mousavi would continue to lead the opposition to the president.

"We are going to continue protesting," he said in the interview with the Spanish daily El Pais. "We are never going to cooperate with this government. We don't want to harm it but we are going to criticize its actions. We are not going to help it in any way."

On Monday, Khamenei bluntly told the opposition and others who have said the election was marred by abuses that they had simply failed.

"This election was a test. People passed the test ... and some of the elites failed. This election made some (figures) the losers," state TV quoted Khamenei as saying.

The ruling establishment has sought to hobble the opposition by bringing many of its prominent figures before a court in a mass trial.

More than 100 activists and reformist political figures are being tried for allegedly supporting the postelection unrest. The trial is scheduled to resume Thursday.

On Sunday, Ahmadinejad's main conservative election challenger, Mohsen Rezaei, demanded trials for those accused of killing protesters.

Pro-reform groups, including clerics, have condemned the mass trial as a sham and said confessions from two prominent activists had been coerced.

AP - 05 Agustus 2009 4:06:05 by Nasser Karimi



Read More...

No Go: Paramount won't Show Critics 'G.I. Joe'

It's the biggest movie of the summer that practically no one has seen.

"G.I. Joe: The Rise of Cobra" opens Friday, but Paramount Pictures isn't screening the blockbuster for critics beforehand. Only a select few writers from blogs and movie Web sites have seen it for review -- such as Harry Knowles, the self-professed "Head Geek" from Ain't It Cool News -- and their opinions have been mostly positive.

Instead, the studio says it's intentionally aiming the movie at the heartland, at cities and audiences outside the entertainment vortexes of New York and Los Angeles. Paramount held a screening Friday for 1,000 military service members and their families at Andrews Air Force Base; it's also focusing marketing efforts in places like Kansas City, Charlotte, N.C., and Columbus, Ohio.

While appealing to a sense of patriotism nationwide, the plan also is inspired by the disparity that existed between the critical trashing "Transformers: Rise of the Fallen" received and the massive crowds it drew at the box office.

"`G.I. Joe' is a big, fun, summer event movie -- one that we've seen audiences enjoy everywhere from Andrews Air Force Base in Maryland to Phoenix, Ariz.," said Rob Moore, vice chairman of Paramount Pictures. "After the chasm we experienced with `Transformers 2' between the response of audiences and critics, we chose to forgo opening-day print and broadcast reviews as a strategy to promote `G.I. Joe.' We want audiences to define this film."

With a reported production budget of $175 million and a cast that includes Dennis Quaid, Channing Tatum, Sienna Miller, Marlon Wayans and Joseph Gordon-Levitt, "G.I. Joe" follows the adventures of an elite team using high-tech spy and military equipment to take down a corrupt arms dealer. It comes from director Stephen Sommers, whose previous films include "The Mummy" and "Van Helsing."

Long before anyone saw the completed product, though, "G.I. Joe" drew mixed buzz at best for its trailer, which premiered during the Super Bowl. Now it's the final action picture of the summer -- and it has a lot in common with the highest-grossing film so far this year, the "Transformers" sequel. Both are effects-laden spectacles based on Hasbro toys and both are Paramount releases from producer Lorenzo di Bonaventura.

"Transformers" has gone on to gross more than $388 million in the United States alone since its opening six weeks ago, despite receiving just 20 percent positive reviews on the Web site Rotten Tomatoes, a critical aggregator. The withholding of "G.I. Joe" from mainstream critics suggests that the studios believe they can succeed at the box office without them.

It's a tactic normally reserved for horror movies or other genre pictures with built-in fans who don't necessarily care about reviews -- ones based on video games, for example -- not summer blockbusters. Still, "G.I. Joe" has been tracking well because it represents the last big bang of the season, said Paul Dergarabedian, box-office analyst for Hollywood.com.

"They don't need (to screen) it and there's no upside to negative reviews. The film is going to open well no matter what," Dergarabedian said. "They're being very strategic in who they show the movie to. If they can win over their core audience from these reviews, that's good for the movie."

Devin Faraci from the film Web site CHUD.com is one of the few writers who have seen it for review purposes, and not just for junket interviews. He's among the critics who've contributed to the movie's 88-percent positive rating as tabulated by Rotten Tomatoes, saying: "If I was 10 years old, `G.I. Joe' would be one of the best movies I had ever seen."

Faraci said he was in Toronto recently when he received a phone call at 8:30 a.m. Los Angeles time, asking if he could come to the Paramount lot that day for a "G.I. Joe" screening. He flew back, got off the plane and headed right over.

"It's silly. It's a film that plays on its own terms," he said. "I don't think reviews will kill it but I think it'll get a more positive response than they expect. It's a big, silly, pulpy, cartoony action film and it makes no apologies for being that way."

AP - 05 Agustus 2009 4:01:10 by Christy Lemire

Read More...