Ukraine’s opposition doing well in election

























KIEV, Ukraine (AP) —


Ukraine’s opposition parties performed strongly in Sunday’s parliamentary vote, according to an exit poll, but President Viktor Yanukovych‘s party could still retain control of the legislature as its members are likely to sweep individual races across the country.





















The West is paying close attention to the conduct of the vote in the strategic ex-Soviet state, which lies between Russia and the European Union, and serves as a key conduit for transit of Russian energy supplies to many EU countries. An election deemed unfair would likely turn Ukraine further away from the West and toward Moscow.


Opposition parties alleged widespread violations on election day, such as vote-buying and a suspiciously high amount of home voting, but a local election monitor said those violations were isolated. Authorities insisted the election was honest and democratic.


The Fatherland party, led by the jailed charismatic former Prime Minister Yulia Tymoshenko, the Udar (Punch) of world boxing champion Vitali Klitschko and a nationalist party together received more than 50 percent of the vote on party lists, outnumbering Yanukovych’s Party of Regions and its traditional ally, the Communist Party.


Both Yanukovych’s and Tymoshenko’s parties claimed victory, saying the election showed the voters trust them to lead the country.


However, only half of the parliament’s 450 seats are split proportionately between the winning parties. The other half is filled by the winners of single-mandate races, where Yanukovych loyalists are expected to make a strong showing. In the election, each voter had two ballots, one with party names and one with the name of candidates in specific constituencies. No exit poll numbers were available for the individual races.


With Yanukovych under fire over the jailing of his top rival, Tymoshenko; rampant corruption and slow reforms, the opposition made a strong showing.


Tymoshenko’s Fatherland party is poised to get about 25 percent of the proportional vote, the Udar (Punch) led by world boxing champion Vitali Klitschko is set to get around 15 percent and the nationalist Svoboda (Freedom) party receives some 12 percent. The Party of Regions polled 28 percent and the Communists nearly 12 percent.


If the three opposition groups unite, they could get 127 parliament seats versus 98 seats gained by the Regions and Communists. The distribution of the remaining 225 seats is expected to be clear Monday.


Opposition forces hope to garner enough parliament seats to weaken Yanukovych’s power and undo the damage they say he has done: the jailing of Tymoshenko and her top allies, the concentration of power in the hands of the president, the snubbing of the Ukrainian language in favor of Russian, waning media freedoms, a deteriorating business climate and growing corruption.


The strong showing by the far-right Svoboda (Freedom) party which campaigns for the defense of the Ukrainian language and culture but is also infamous for xenophobic and anti-Semitic rhetoric emerged as a surprise and showed the widespread disappointment and anger with the ruling party.


It remains to be seen whether Tymoshenko’s group, Klitschko’s party and Svoboda can forge a strong alliance and challenge Yanukovych.


The election tainted by Tymoshenko’s jailing on charges of abuse of office has also been compromised by the creation of fake opposition parties, campaigns by politically unskilled celebrities, and the use of state resources and greater access to television by Yanukovych’s party.


___


Yuras Karmanau in Kiev contributed to this report.


Europe News Headlines – Yahoo! News



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In San Francisco, tech investor leads a political makeover

SAN FRANCISCO (Reuters) - One morning in April, Ron Conway, the billionaire technology investor, sat in a conference room on the second floor of San Francisco's City Hall with about 50 representatives from the city's business community.


On the agenda was a sweeping proposal by Mayor Ed Lee to reform the city's payroll tax, a plan that would favor companies with many employees but little revenue — tech start-ups, namely — while shifting the burden to the real estate and financial industries.


The head of the San Francisco Chamber of Commerce was arguing against the proposal when Conway abruptly cut him off.


"The tech industry is producing all the jobs in this city," Conway snapped, according to four people present, his voice rising as he insisted that old-line businesses "need to get on board."


In the end, they did get on board — and San Francisco voters on November 6 will decide whether to approve the change in the tax code.


Conway's success with the tax initiative demonstrates the profound transformation playing out in San Francisco's business corridors and its halls of power. As start-ups blossom, attracting a wave of entrepreneurs and investment dollars, the tech industry is wielding newfound clout in local politics — largely thanks to Conway, its brash, silver-haired champion.


The shift, local political experts say, harks back to the turn of the last century, when financial institutions like the Bank of Italy — forebear to present-day Bank of America — gradually eroded the railroad barons' grip over California politics.


Now the tech industry, led by Conway, is beginning to overshadow long-dominant local business lobbies, said Chris Lehane, a political consultant and former adviser in the Clinton White House.


"When you have a new business entity that really hasn't existed in the past and becomes a real player in local politics, that changes the balance a bit," said Lehane, who is based in San Francisco. "People like Ron Conway, he's an angel investor in companies but also an angel supporter of politicians he cares about."


Not everyone in this famously liberal city is enthused about the new tech boom, which is driving up rents and threatening to price out all but the wealthy.


"As someone who lived through the tech boom in the '90s and watched countless friends and community members get pushed out of their homes, only for the bubble to disintegrate, this is painful to watch," said Gabriel Haaland, political director for the SEIU Local 1021, the largest union in the city. "Those times are here again."


Last month, when San Francisco Magazine published an article bemoaning tech-driven gentrification, traffic on the magazine's website broke all records.


"It touched on an issue that people have been thinking about for a while," said Jon Steinberg, the magazine's editor.


Conway and Lee make no apologies.


"Tech added 13,000 out of the 25,000 new jobs we created the last couple years, which helped us bring the unemployment rate to the third-lowest in the state," Lee, a Democrat, said in an interview. "We have to work with the new jobs creators, and that's what I believe the public wants me to do."


Conway, who made his name in the 1990s by betting on small, early-stage companies and scoring a huge win with Google, says a key goal of a new civic organization he has started, San Francisco Citizens Initiative for Technology & Innovation, is to provide service jobs in tech for long-term residents and the unemployed.


"It would be great if we could create a few hundred jobs in the $50,000 to $80,000 income bracket," said Conway. "We're here to improve the living conditions for all of San Francisco. That's the responsibility tech wants to take."


ODD COUPLE


Conway and Lee have an exceptionally close relationship, one that has captivated the city's political set even while attracting accusations of favoritism from the mayor's rivals.


The two make an odd couple. Lee was a publicity-shy city bureaucrat and civil rights lawyer for decades before being named caretaker mayor of this Democratic bastion in 2011 after his predecessor was elected lieutenant governor. Conway, until recently a registered Republican, counts Tiger Woods and Henry Kissinger among his investors and considers a start-up tour with Ashton Kutcher in tow just another day's work.


In a city that faces chronic budget deficits even as it enjoys a comparatively strong economy, the relationship is symbiotic. Conway taps his access to Lee to promote his companies, from Twitter to Zynga to Airbnb; Lee persuades Conway to rally tech leaders to help fund the police, the schools, the parks.


Their alliance began only last year. As interim mayor, Lee impressed Conway when he pushed through a tax exemption for Twitter, which had considered moving out of the city to avoid the tax bill that would have resulted from an initial public offering. San Francisco imposes a 1.5 percent payroll tax on local companies, a levy that applies to any gains in an IPO.


When Lee ran for a full four-year term several months later, Conway formed an independent political action committee on his behalf. He rustled up almost $700,000 from the likes of entrepreneur Sean Parker; Zynga CEO Mark Pincus; Salesforce CEO Marc Benioff; venture capitalists John Doerr and Tom Byers; and Credit Suisse banker Bill Brady.


He also enlisted Portal A, a video production outfit consisting of three twentysomething hitmakers, to create a YouTube video that featured rapper MC Hammer, Yahoo CEO Marissa Mayer and San Francisco Giants pitcher Brian Wilson dancing on Conway's rooftop. The clip went viral and effectively drowned out ads from Lee's rivals.


A year later, Conway rated the mayor's performance a "9.5 out of 10."


"I have a tremendous respect for Mayor Lee," he said. "He listens to people. He builds consensus, and that's an improvement from the past."


Conway said he and Lee are "too busy with our day jobs" to socialize frequently. Neither likes to publicly discuss their relationship. But when the mayor turned 60 in May, Lee and his family sat down for a three-hour private dinner with Conway and his wife, Gayle, at an Italian restaurant in North Beach, according to the San Francisco Chronicle's gossip columnists.


For Conway — whose calls to the mayor's office are considered the highest priority, City Hall insiders say — no issue facing his portfolio companies is too insignificant for him to get involved. In one instance this year, after social media company Pinterest moved to San Francisco, Conway pressed officials to repaint curbs to allow employee parking near the start-up's offices, according to two people with knowledge of the matter. The city refused; Conway denied that the incident occurred.


While some cities have cracked down on services like Airbnb, which lets residents rent out spare bedrooms and can run afoul of local lodging ordinances, Lee has taken the opposite tack. This year he formed a policy-making group to consider how to regulate and foster such companies, which are part of what's known in Silicon Valley as the "sharing economy."


The mayor has also urged Conway to help city initiatives. Conway recently contributed $100,000 toward a campaign to approve bonds to restore the city's parks, and gave $25,000 to a charity founded by Lee that funds impoverished public schools. When a group of software developers tried recently to create an app that would improve public bus performance but lacked funds for a pilot program, SF Citi stepped in and cut a check.


Lee said he hoped Conway would fill a void left by recently deceased philanthropists such as Gap Inc founder Don Fisher, real estate mogul Walter Shorenstein and private equity investor Warren Hellman.


"The tech guys like Conway usually want to meet presidents and such. You never see them play so deep in local government," said one Democratic fundraiser. "It's unusual."


But the tech world says the headlong plunge into local politics is classic Conway.


"When Ron is passionate about an issue or a company or a person, it's never a secret," said Twitter CEO Dick Costolo. "He's passionate about San Francisco right now, and it's exhibiting itself in the way he helps companies in the city, the way he helps the city. It's fantastic to see."


CHANGING TAX POLICY


Conway says his top priority is passage of the payroll tax reform initiative on November 6.


The measure would tax local businesses based on their gross receipts instead of the size of their payroll, which benefits low-revenue, high-headcount companies like startups. Financial, insurance and real estate companies would see their local taxes rise by 30 percent, while taxes will remain flat for most scientific and technical companies.


Crucially, the measure would also mean that proceeds from an IPO would not be subject to taxes.


Landlords, and to a lesser extent financial services companies, conceded that they had lost their first political fight with the tech industry, but took the long view.


"We knew we were going to be socked in a big way, and we worked early and long and hard with the city for a rate that was fair," said Ken Cleaveland of the Building Owners and Managers Association. "In the end it wasn't in our best interest to fight our tenants."


(Reporting by Gerry Shih; Editing by Jonathan Weber, Douglas Royalty and Dale Hudson)


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“Argo” rises above “Cloud Atlas” as Sandy spooks

























LOS ANGELES (Reuters) – Acclaimed Iran hostage thriller “Argo” brought home its first box-office win over a quiet weekend, leading movie charts with $ 12.4 million in U.S. and Canadian ticket sales as would-be moviegoers hunkered down for Hurricane Sandy.


The tally for “Argo,” directed by and starring Ben Affleck, topped the $ 9.4 million for new sci-fi drama “Cloud Atlas“. Halloween-themed animated film “Hotel Transylvania” scared up $ 9.5 million from Friday through Sunday, narrowly edging “Cloud Atlas“, studio estimates showed.





















After two weeks in the No. 2 spot, “Argo” moved into the lead and lifted its domestic sales to $ 60.8 million through three weekends.


The movie, produced by Warner Bros. and GK Films for $ 44 million, tells the story of a mission to rescue U.S. government employees from Iran in 1979. The film has earned Oscar buzz after stellar reviews from critics and an “A+” grade from audiences polled by CinemaScore.


Dan Fellman, president of theatrical distribution for Warner Bros., a unit of Time Warner Inc, attributed the film’s jump to “great word-of-mouth”, which he called “the best form of advertising”.


Cloud Atlas“, also from Warner Bros., fell short of industry forecasts for a $ 13 million debut at North American (U.S. and Canadian) theaters. Fellman said the film did better in larger cities, but struggled in the South and Midwest.


The film, starring Tom Hanks and Halle Berry, cost $ 100 million to make. Many in Hollywood thought the story, based on a philosophical novel by David Mitchell, was too complex to bring to the big screen.


The nearly three-hour film with six interweaving stories divided critics, with the harshest reviewers saying it would try audiences’ patience with multiple storylines and century-hopping plots. The film’s stars also shift characters. Hanks, for example, is a shady doctor in the 1840s, a nuclear scientist in the 1970s and a simple valley-dweller in the distant future.


But “Cloud Atlas” also drew praise as an ambitious and well-acted epic. Sixty-one percent of reviews on the Rotten Tomatoes website recommended the film.


Hotel Transylvania” set a record for a September film opening in North America when it opened on September 28, and has performed solidly since then.


In the family comedy, Frankenstein, the Invisible Man and other monsters gather for a party at a high-end resort operated by Dracula. Their celebration is disrupted when a boy discovers the hotel and falls in love with Dracula’s daughter but must deal with her overprotective father.


The president of worldwide distribution for Sony Corp‘s Sony Pictures studio, Rory Bruer, wasn’t entirely surprised that the weeks-old movie beat “Cloud Atlas“, despite the latter movie’s buzz.


“Anything at this point doesn’t surprise me,” Bruer said. “It’s like an annuity that keeps on giving and giving.”


Paul Dergarabedian, box office analyst at Hollywood.com, said the Halloween weekend gave the film a boost, and is “still the number one choice for families” among the spooky seasonal films currently playing.


This weekend was fairly quiet at the box office in North America, which Dergarabedian attributed to Hurricane Sandy, a storm menacing the East Coast of the United States.


However, the new James Bond movie “Skyfall” whipped up a storm of its own overseas, taking $ 77.7 million in 25 countries. The latest installment of the British spy saga took the top spot in all 25 countries, broke the all-time Saturday attendance record in the United Kingdom, and was the biggest film opening there of 2012. It will open in the United States on November 9.


Rounding out the weekend’s top five, low-budget horror sequel “Paranormal Activity 4″ grossed $ 8.7 million at domestic theaters. “Silent Hill: Revelation 3D” and “Taken 2″ tied for fifth place, each pulling in $ 8 million.


Two other new films failed to crack the top five.


New Halloween-themed comedy “Fun Size” brought in $ 4.1 million at domestic theaters, landing in tenth place. The $ 14 million production tells the story of a boy who goes missing among trick-or-treaters, sparking his teen sister’s frantic search to find him before her mother comes home.


Sports drama “Chasing Mavericks” disappointed, failing to break the top ten. The movie stars Gerard Butler in the story of a surfer who tries to conquer one of the biggest waves on Earth.


Silent Hill: Revelation 3D” was released by Open Road Films, a joint venture between theater owners Regal Entertainment Group and AMC Entertainment Inc. Paramount Pictures, a unit of Viacom Inc, released “Fun Size” and “Paranormal Activity 4″.


“Chasing Mavericks” was distributed by News Corp’s 20th Century Fox studio. Sony Corp’s movie division released “Hotel Transylvania“.


(Reporting by Lisa Richwine and Andrea Burzynski; Editing by Will Dunham and Dale Hudson)


Movies News Headlines – Yahoo! News



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East Coast superstorm could endanger 50 million people

NEW YORK (AP) — From Washington to Boston, big cities and small towns Sunday buttoned up against the onslaught of a superstorm that could endanger 50 million people in the most heavily populated corridor in the nation, with forecasters warning that the New York area could get the worst of it — an 11-foot wall of water.

"The time for preparing and talking is about over," Federal Emergency Management Administrator Craig Fugate said as Hurricane Sandy made its way up the Atlantic on a collision course with two other weather systems that could turn it into one of the most fearsome storms on record in the U.S. "People need to be acting now."

Forecasters said the hurricane could blow ashore Monday night or early Tuesday along the New Jersey coast, then cut across into Pennsylvania and travel up through New York State on Wednesday.

Airlines canceled more than 7,200 flights and Amtrak began suspending train service across the Northeast. New York, Philadelphia, Washington and Baltimore moved to shut down their subways, buses and trains and said schools would be closed on Monday. Boston also called off school. And all non-essential government offices closed in the nation's capital.

As rain from the leading edges of the monster hurricane began to fall over the Northeast, hundreds of thousands of people from Maryland to Connecticut were ordered to evacuate low-lying coastal areas, including 375,000 in lower Manhattan and other parts of New York City, 50,000 in Delaware and 30,000 in Atlantic City, N.J., where the city's 12 casinos were forced to shut down for only the fourth time ever.

"We were told to get the heck out. I was going to stay, but it's better to be safe than sorry," said Hugh Phillips, who was one of the first in line when a Red Cross shelter in Lewes, Del., opened at noon.

"I think this one's going to do us in," said Mark Palazzolo, who boarded up his bait-and-tackle shop in Point Pleasant Beach, N.J., with the same wood he used in past storms, crossing out the names of Hurricanes Isaac and Irene and spray-painting "Sandy" next to them. "I got a call from a friend of mine from Florida last night who said, 'Mark, get out! If it's not the storm, it'll be the aftermath. People are going to be fighting in the streets over gasoline and food.'"

Authorities warned that the nation's biggest city could get hit with a surge of seawater that could swamp parts of lower Manhattan, flood subway tunnels and cripple the network of electrical and communications lines that are vital to the nation's financial center.

Sandy, a Category 1 hurricane with sustained winds of 75 mph as of Sunday evening, was blamed for 65 deaths in the Caribbean before it began traveling northward, parallel to the Eastern Seaboard. As of 11 p.m., it was centered about 470 miles southeast of New York City, moving at 14 mph, with hurricane-force winds extending an incredible 175 miles from its center.

It was expected to hook inland during the day Monday, colliding with a wintry storm moving in from the west and cold air streaming down from the Arctic.

Forecasters said the combination could bring close to a foot of rain in places, a potentially lethal storm surge of 4 to 11 feet across much of the region, and punishing winds that could cause widespread power outages that last for days. The storm could also dump up to 2 feet of snow in Kentucky, North Carolina and West Virginia.

Louis Uccellini, environmental prediction chief for the National Oceanic and Atmospheric Administration, told The Associated Press that given Sandy's east-to-west track into New Jersey, the worst of the storm surge could be just to the north, in New York City, on Long Island and in northern New Jersey.

Forecasters said that because of giant waves and high tides made worse by a full moon, the metropolitan area of about 20 million people could get hit with an 11-foot wall of water.

"This is the worst-case scenario," Uccellini said.

New York Mayor Michael Bloomberg warned: "If you don't evacuate, you are not only endangering your life, you are also endangering the lives of the first responders who are going in to rescue you. This is a serious and dangerous storm."

New Jersey's famously blunt Gov. Chris Christie was less polite: "Don't be stupid. Get out."

New York called off school Monday for the city's 1.1 million students and announced it would suspend all train, bus and subway service Sunday night. More than 5 million riders a day depend on the transit system. The New York Stock Exchange announced it will shut down its trading floor Monday but continue to trade electronically.

Officials also postponed Monday's reopening of the Statue of Liberty, which had been closed for a year for $30 million in renovations.

In Washington, President Barack Obama promised the government would "respond big and respond fast" after the storm hits.

"My message to the governors as well as to the mayors is anything they need, we will be there, and we will cut through red tape. We are not going to get bogged down with a lot of rules," he said.

He also pleaded for neighborliness: "In times like this, one of the things that Americans do is we pull together and we help out one another And so, there may be elderly populations in your area. Check on your neighbor, check on your friend. Make sure that they are prepared. If we do, then we're going to get through this storm just fine."

The storm forced the president and Mitt Romney to rearrange their campaign schedules in the crucial closing days of the presidential race. And early voting on Monday in Maryland and the District of Columbia was canceled.

Despite the dire warnings, some souls were refusing to budge.

Jonas Clark of Manchester Township, N.J. — right in the area where Sandy was projected to come ashore — stood outside a convenience store, calmly sipping a coffee and wondering why people were working themselves "into a tizzy."

"I've seen a lot of major storms in my time, and there's nothing you can do but take reasonable precautions and ride out things the best you can," said Clark, 73. "Nature's going to what it's going to do. It's great that there's so much information out there about what you can do to protect yourself and your home, but it all boils down basically to 'use your common sense.'"

In New Jersey, Denise Faulkner and her boyfriend showed up at the Atlantic City Convention Center with her 7-month-old daughter and two sons, ages 3 and 12, thinking there was a shelter there. She was dismayed to learn that it was just a gathering point for buses to somewhere else. Last year, they were out of their home for two days because of Hurricane Irene.

"I'm real overwhelmed," she said as baby Zahiriah, wrapped in a pink blanket with embroidered elephants, slept in a car seat. "We're at it again. Last year we had to do it. This year we have to do it. And you have to be around all sorts of people — strangers. It's a bit much."

Before leaving their home in Atlantic City, John and Robshima Williams of packed their kids' Halloween costumes so they could go bunk-to-bunk trick-or-treating at a shelter. Her 8-year-old twins are going as the Grim Reaper and a zombie, while her 6-year-old plans to dress as a witch.

"We're just trying to make a bad situation good," the mother said. "We're going to make it fun no matter where we are."

___

Breed reported from Raleigh, N.C.; Contributing to this report were AP Science Writer Seth Borenstein in Washington; Katie Zezima in Atlantic City, N.J.; Wayne Parry in Point Pleasant Beach, N.J.; and Dave Dishneau in Wilmington, Del.

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Indonesia arrests 11 people suspected of planning terror attacks on US, Australian embassies
















JAKARTA, IndonesiaIndonesian police say they have arrested 11 people suspected of planning a range of terrorist attacks on domestic and foreign targets including the U.S. and Australian embassies.


National Police spokesman Maj. Gen. Suhardi Aliyus says the suspects were arrested by an anti-terror squad in raids Friday night in four provinces.












He said Saturday that police also seized bombs, explosive materials and a bomb-making manual.


He said the newly formed group had plans to target the U.S. Embassy in Jakarta and a plaza near the Australian Embassy and the local office of U.S. mining giant Freeport-McMoRan. Aliyus said they also planned to attack the U.S. Consulate in Surabaya and the headquarters of a police special force in Central Java.


It was unclear how far the plans had advanced.


Australia / Antarctica News Headlines – Yahoo! News



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Star Silicon Valley analyst felled by Facebook IPO fallout

SAN FRANCISCO (Reuters) - The firing of Citigroup stock analyst Mark Mahaney on Friday in the regulatory fallout from Facebook Inc's initial public offering was greeted with shock and dismay in Silicon Valley, where Mahaney was a well-known and well-liked figure.


"Pretty shocked," was the reaction of Jacob Funds Chief Executive Ryan Jacob, who described Mahaney as one of the most respected financial analysts covering the Internet industry.


"I'd put him at the top. If not at the top, then near the top," said Jacob. "He really knew what to look for."


In addition to firing Mahaney, Citigroup paid a $2 million fine to Massachusetts regulators to settle charges that the bank improperly disclosed research on Facebook ahead of its $16 billion IPO in May.


The settlement agreement said Mahaney failed to supervise a junior analyst who improperly shared Facebook research with the TechCrunch news website. (Settlement agreement: http://r.reuters.com/pyj63t)


The settlement agreement also outlined an incident in which Mahaney failed to get approval before responding to a journalist's questions about Google Inc -- and told a Citigroup compliance staffer that the conversation had not occurred -- even after being warned about unauthorized conversations with the media.


Mahaney declined to comment.


Mahaney got his start in the late 1990s, during the first dot-com boom where he worked at Morgan Stanley for Mary Meeker, one of the star analysts of the time. He went on to work at hedge fund Galleon Group before moving to Citigroup in 2005. Unlike most of his New York-based peers in the analyst world, Mahaney worked in San Francisco's financial district, close to the companies and personalities at the heart of the tech industry.


Earlier this month, Mahaney was named the top Internet analyst for the fifth straight year by Institutional Investor. The review cited fans of Mahaney who praised a "systematic" investment approach that allows him to avoid the "waffling" often evidenced by other analysts.


Mahaney's Buy rating on IAC/InteractiveCorp in April 2011, when the stock traded at $33.32, allowed investors to lock in a 51 percent gain before he downgraded the stock to a Hold at $50.31 a few months later, according to Institutional Investor.


But it wasn't only his stock picks that put him in good stead. He earned kudos for simply being a nice guy.


"He's a kind and thoughtful person and that's evident in the way he deals with people," said Jason Jones of Internet investment firm HighStep Capital. "He's very well liked on Wall Street because of that."


A CAUTIOUS VIEW ON FACEBOOK


Mahaney was only indirectly involved in the incident involving the Facebook research, according to the settlement agreement by Massachusetts regulators released on Friday. But the actions of the junior analyst who worked for him provide an unusual glimpse into the type of behind-the-scenes information trading that regulators are attempting to rein in.


While the Massachusetts regulators did not identify any of the individuals by name, Reuters has learned that the incident involved TechCrunch reporters Josh Constine and Kim-Mai Cutler as well as Citi junior analyst Eric Jacobs.


Jacobs, Constine and Cutler all did not respond to requests for comments.


In early May, shortly before Facebook's IPO, Jacobs sent an email to Cutler and Constine. Constine attended Stanford University at the same time as Jacobs.


Constine, who studied social networks such as Facebook and Twitter for his 2009 Master's degree in cybersociology at Stanford, had a close friendship with Jacobs, according to the settlement agreement.


"I am ramping up coverage on FB and thought you guys might like to see how the street is thinking about it (and our estimates)," Jacobs wrote in the email. The email included an "outline" that Jacobs said would eventually become the firm's 30-40 page initiation report on Facebook.


He also included a "Facebook One Pager" document, which contained confidential, non-public information that Citigroup obtained in order to help begin covering Facebook after the IPO.


Asked by Constine if the information could be published and attributed to an anonymous source, Jacobs responded that "my boss would eat me alive," the agreement said.


A spokeswoman for AOL Inc, which owns TechCrunch, declined to answer questions on the matter, saying only that "We are looking into the matter and have no comment at this time."


Ironically, Mahaney was one of a small group of analysts at the many banks underwriting Facebook's IPO who had cautious views of the richly valued offering. Mahaney initiated coverage of the company with a neutral rating.


Analysts at the top three underwriters on Facebook's IPO - Morgan Stanley, Goldman Sachs and J.P. Morgan - started the stock with overweight or buy recommendations.


Earlier this year, Reuters reported that Facebook had pre-briefed analysts for its underwriters ahead of its IPO, advising them to reduce their profit and revenue forecasts.


Facebook, whose stock was priced at $38 a share in the IPO, closed Friday's regular session at $21.94 and has traded as low as $17.55.


"There were tens of billions of dollars in losses based on hyping the name, a lack of skeptical information and misunderstanding the company," said Max Wolff, chief economist and senior analyst at research firm GreenCrest Capital.


"It's highly unfortunate and darkly ironic that one of the signature regulatory actions from this IPO so far involves punishing analysts for disseminating cautious information about Facebook," he added.


(Editing by Jonathan Weber, Mary Milliken and Lisa Shumaker)


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Lil Wayne released from hospital, thanks fans
















NEW YORK (AP) — Lil Wayne is thanking fans who prayed for him while he was hospitalized after a severe migraine and dehydration.


The rapper’s management team says he’s on “mandated rest.” The Blueprint Group said Friday he was released from the hospital treatment and will return to work soon. It says the New Orleans-based rapper appreciates his fans’ support and love.












Lil Wayne tweeted Saturday he’s “good.” He says, “Thanx for all the prayers!”


The 30-year-old multiplatinum performer is working on a follow-up to his last album, last year’s “Tha Carter IV.”


___


Online:


http://www.lilwayne-online.com


Entertainment News Headlines – Yahoo! News



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Threat of superstorm launches mass evacuations in coastal areas

SHIP BOTTOM, N.J. (AP) — Forget distinctions like tropical storm or hurricane. Don't get fixated on a particular track. Wherever it hits, the rare behemoth storm inexorably gathering in the eastern U.S. will afflict a third of the country with sheets of rain, high winds and heavy snow, say officials who warned millions in coastal areas to get out of the way.

"We're looking at impact of greater than 50 to 60 million people," said Louis Uccellini, head of environmental prediction for the National Oceanic and Atmospheric Administration.

As Hurricane Sandy barreled north from the Caribbean — where it left nearly five dozen dead — to meet two other powerful winter storms, experts said it didn't matter how strong the storm was when it hit land: The rare hybrid storm that follows will cause havoc over 800 miles from the East Coast to the Great Lakes.

"This is not a coastal threat alone," said Craig Fugate, director of the Federal Emergency Management Agency. "This is a very large area."

President Barack Obama was monitoring the storm and working with state and locals governments to make sure they get the resources needed to prepare, administration officials said.

New Jersey Gov. Chris Christie declared a state of emergency Saturday as hundreds of coastal residents started moving inland and the state was set to close its casinos. New York's governor was considering shutting down the subways to avoid flooding and half a dozen states warned residents to prepare for several days of lost power.

Sandy weakened briefly to a tropical storm Saturday but was soon back up to Category 1 strength, packing 75 mph winds. It was about 275 miles south-southeast of Cape Hatteras, N.C., and moving northeast at 14 mph as of 2 a.m. Sunday. Forecasters said the storm was spreading tropical storm conditions across the coastline of North Carolina, and they were expected to move up the mid-Atlantic coastline late Sunday. Experts said the storm was most likely to hit the southern New Jersey coastline by late Monday or early Tuesday.

Governors from North Carolina, where heavy rain was expected Sunday, to Connecticut declared states of emergency. Delaware ordered mandatory evacuations for coastal communities by 8 p.m. Sunday.

Christie, who was widely criticized for not interrupting a family vacation in Florida while a snowstorm pummeled the state in 2010, broke off campaigning for Republican presidential nominee Mitt Romney in North Carolina on Friday to return home.

"I can be as cynical as anyone," Christie said in a bit of understatement Saturday. "But when the storm comes, if it's as bad as they're predicting, you're going to wish you weren't as cynical as you otherwise might have been."

The storm forced the presidential campaign to juggle schedules. Romney scrapped plans to campaign Sunday in the swing state of Virginia and switched his schedule for the day to Ohio. First lady Michelle Obama canceled an appearance in New Hampshire for Tuesday, and Obama moved a planned Monday departure for Florida to Sunday night to beat the storm. He canceled appearances in Northern Virginia on Monday and Colorado on Tuesday.

In Ship Bottom, just north of Atlantic City, Alice and Giovanni Stockton-Rossini spent Saturday packing clothing in the backyard of their home, a few hundred yards from the ocean on Long Beach Island. Their neighborhood was under a voluntary evacuation order, but they didn't need to be forced.

"It's really frightening," Alice Stockton-Rossi said. "But you know how many times they tell you, 'This is it, it's really coming and it's really the big one' and then it turns out not to be? I'm afraid people will tune it out because of all the false alarms before ... (but) this one might be the one."

A few blocks away, Russ Linke was taking no chances. He and his wife secured the patio furniture, packed the bicycles into the pickup truck, and headed off the island.

What makes the storm so dangerous and unusual is that it is coming at the tail end of hurricane season and the beginning of winter storm season, "so it's kind of taking something from both," said Jeff Masters, director of the private service Weather Underground.

Masters said the storm could be bigger than the worst East Coast storm on record — the 1938 New England hurricane known as the Long Island Express, which killed nearly 800 people. "Part hurricane, part nor'easter — all trouble," he said. Experts said to expect high winds over 800 miles and up to 2 feet of snow as far inland as West Virginia.

And the storm was so big, and the convergence of the three storms so rare, that "we just can't pinpoint who is going to get the worst of it," said Rick Knabb, director of the National Hurricane Center in Miami.

Officials are particularly worried about the possibility of subway flooding in New York City, said Uccellini.

New York Gov. Andrew Cuomo told the Metropolitan Transportation Authority to prepare to shut the city's subways, buses and suburban trains by Sunday, but delayed making a final decision. The city shut the subways down before last year's Hurricane Irene, and a Columbia University study predicted that an Irene surge just 1 foot higher would have paralyzed lower Manhattan.

Up and down the Eastern Seaboard and far inland, officials urged residents and businesses to prepare in big ways and little.

On Saturday evening, Amtrak began canceling train service to parts of the East Coast, including between Washington, D.C., and New York. Airlines started moving planes out of East Coast airports to avoid damage and adding flights out of New York and Washington on Sunday in preparation for flight cancellations on Monday.

The Virginia National Guard was authorized to call up to 500 troops to active duty for debris removal and road-clearing, while homeowners stacked sandbags at their front doors in coastal towns. At a Home Depot in Virginia Beach, employee Dave Jusino said the store was swamped with customers.

"We have organized chaos, is what I call it," Jusino said. "We organize a group of 10 associates, give them certain responsibilities and we just separate the lines, organize four customers at a time, load up their cars and get them out the door and then take the next customers."

Utility officials warned rains could saturate the ground, causing trees to topple into power lines, and told residents to prepare for several days at home without power. "We're facing a very real possibility of widespread, prolonged power outages," said Ruth Miller, spokeswoman for the Pennsylvania Emergency Management Agency.

Warren Ellis, who was on an annual fishing pilgrimage on North Carolina's Outer Banks, didn't act fast enough to get home. Ellis' 73-year-old father managed to get off uninhabited Portsmouth Island near Cape Hatteras by ferry Friday. But the son and his camper got stranded when high winds and surf forced the ferry service to suspend operations Saturday.

"We might not get off here until Tuesday or Wednesday, which doesn't hurt my feelings that much," said Ellis, 44, of Amissville, Va. "Because the fishing's going to be really good after this storm."

Last year, Hurricane Irene poked a new inlet through the island, cutting the only road off Hatteras Island for about 4,000.

In Connecticut, the Naval Submarine Base in Groton prepared to install flood gates and pile up sandbags to protect against flooding while its five submarines remain in port through the storm.

Lobsterman Greg Griffen in Maine wasn't taking any chances; he moved 100 of his traps to deep water, where they are less vulnerable to shifting and damage in a storm.

"Some of my competitors have been pulling their traps and taking them right home," said Griffen. The dire forecast "sort of encouraged them to pull the plug on the season."

In Muncy Valley in northern Pennsylvania, Rich Fry learned his lesson from last year, when Tropical Storm Lee inundated his Katie's Country Store.

In between helping customers picking up necessities Saturday, Fry was moving materials above the flood line. Fry said he was still trying to recover from the losses of last year's storm, when he estimates he lost $35,000 in merchandise.

"It will take a lot of years to cover that," he said.

Christie's emergency declaration will force the shutdown of Atlantic City's 12 casinos for only the fourth time in the 34-year history of legalized gambling here. The approach of Hurricane Irene shut down the casinos for three days last August.

Atlantic City officials said they would begin evacuating the gambling hub's 30,000 residents at noon Sunday, busing them to mainland shelters and schools.

Tom Foley, Atlantic City's emergency management director, recalled the March 1962 storm when the ocean and the bay met in the center of the city.

"This is predicted to get that bad," he said.

Eighty-five-year-old former sailor Ray Leonard said if he had loved ones living in the projected landfall area, he would tell them to leave. Leonard knows to heed the warnings.

He and two crewmates in his 32-foot sailboat, Satori, rode out 1991's infamous "perfect storm," made famous by the Sebastian Junger bestseller of the same name, before being plucked from the Atlantic off Martha's Vineyard, Mass., by a Coast Guard helicopter.

"Don't be rash," Leonard said in a telephone interview Saturday from his home in Fort Myers, Fla. "Because if this does hit, you're going to lose all those little things you've spent the last 20 years feeling good about."

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Breed reported from Raleigh, N.C. Contributing to this report were AP Science Writer Seth Borenstein in Washington; Emery Dalesio in Kill Devil Hills, N.C.; Karen Matthews and Samantha Bomkamp in New York; Glenn Adams in Augusta, Maine; Randall Chase in Lewes, Del.; Rodrique Ngowi in Boston; Ron Todt in Philadelphia and Nancy Benac in Washington.

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