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Aug 27, 2012

At Convention, 2 Disruptions: Tropical Storm and Ron Paul: NYT Politics August 27, 2012 :

The New York Times

August 27, 2012


At Convention, 2 Disruptions: Tropical Storm and Ron Paul

As Tropical Storm Isaac diverted attention from the delayed Republican convention, the Romney campaign was monitoring a potential challenge from restive delegates when it does begin.
The Caucus

Boehner Sees G.O.P. Victory, but Not Necessarily a Mandate on Medicare

"I think the American people are going to vote with their wallets on Election Day," said John A. Boehner, the Republican House speaker.

A Party of Factions Gathers, Seeking Consensus

Republican leaders said there was unity in the drive to unseat President Obama, but they expressed concerns about challenges to the establishment.

More Politics

The Caucus

As Isaac Approaches, Jindal Cancels Convention Speech

Gov. Bobby Jindal of Louisiana announced that he would not attend events in Tampa, Fla., while the storm threatened his state, let alone speak as scheduled at 8 p.m. Wednesday.
The Caucus

Crist to Speak at Democratic Convention

His former party is gathering near his hometown, but Charlie Crist is now preparing to speak at the Democratic convention next week after endorsing President Obama.

First Day Canceled, but Republican Show Goes On

Delegates began to arrive in Tampa on Sunday as convention organizers said they were still working on a revised schedule after canceling the first day because of the weather. Still, many of Sunday's events were going ahead as planned.
The Media Equation

Viewers Don't Want Conventional

If political convention organizers acknowledged that they were putting on reality shows, television networks and viewers might be more inclined to watch.
Romney in Michigan A rally in Commerce, Mich., last week.

Earnest and Efficient, Romney Spares the Subtlety

Mitt Romney's speeches and rallies are highly polished and hyper-scripted and they tell a story of a man who sees himself as a hero prepared to pull off his biggest rescue yet.

For G.O.P. Congressmen in Arizona, a Fierce Primary in a Redrawn District

Ben Quayle and David Schweikert will face off on Tuesday in a primary race to represent the new Sixth Congressional District.

The Caucus

Before the Convention, a Hometown Rally for Ryan

Paul D. Ryan appears in Janesville, Wis., where he grew up and still lives.

Romney Says 'Dishonest' Attacks Have Had an Impact

In two interviews, Mitt Romney says that while the president's attacks had succeeded in tarnishing his image, he is confident he can overcome that, starting this week.

Schumer Urges Repairs to the Capitol Dome

In a letter to Speaker John A. Boehner, Senator Charles E. Schumer asked House and Senate negotiators to provide money to repair the Capitol dome.

Preconvention Polls Highlight Tightness of the Race

Several new surveys reinforce the summerlong trend of a very close presidential contest.

NYT Global Update - August 27, 2012 -: France Says It Would Recognize Provisional Syrian Government

The New York Times International Herald Tribune
August 27, 2012

Global Update


France Says It Would Recognize Provisional Syrian Government

The statement by the French president, François Hollande, represented the furthest any Western leader had gone in pressuring President Bashar al-Assad of Syria.

Sea Ice in Arctic Measured at Record Low

With weeks left to go in the melting season, ice in the Arctic has fallen to the lowest level on record, scientists say, and they are investigating whether the decline is contributing to extreme weather farther south.

Attacks on Soldiers and Civilians Leave Dozens Dead in Afghanistan

In three separate attacks on Sunday and Monday, an Afghan soldier killed two American troops, attackers killed 10 Afghan soldiers at a checkpoint, and the Taliban cut the throats of 17 civilians.

Interactive Feature: The Deciders

The 2012 presidential election will hinge on the ballots cast by voters in swing states like New Hampshire, Florida and Colorado. Meet voters living in states that could make a difference in this election.

Op-Ed Contributor

Something There Is That Doesn't Love a Wall

The United States, Israel and India have all spent billions to build walls along their borders. To what end?

Crackdown Toll Seen as Syrians Bury Hundreds

With more than 200 bodies found over the weekend, the assault in Daraya, a suburb of Damascus has begun to look like one of the deadliest short-term raids of the uprising.

India's Premier Jeered in Parliament Over Coal Deals

Opposition lawmakers shouted down Prime Minister Manmohan Singh as he rebutted claims that sweetheart coal deals with power companies had cost the government $34 billion in royalties.

Pakistani Prime Minister Wins Time in Conflict With Court

Pakistan's Supreme Court on Monday delayed pressing contempt charges against Prime Minister Raja Pervez Ashraf, a move some analysts saw as a softening of the court's posture.

Hong Kong Protesters Defy Court Order to Leave

An unusual intersection of legal issues, local politics and weather has allowed Occupy Central to defy the authorities longer than similar movements elsewhere.

Philippine Economy Set to Become Asia's Newest Bright Spot

Young urban workers in the Philippines are helping to give the country its best prospects in decades, economists say.

Apple Case Muddies the Future of Innovations

For companies that emphasize distinctive design, the Samsung patent verdict was a validation of their efforts.

Inventor Challenges a Sweeping Revision in Patent Law

Mark Stadnyk is suing the United States government, aiming to block a patent law that he says is a triumph of corporate lobbying that will hurt lone inventors like him.

Saudi Oil Producer's Computers Restored After Virus Attack

Saudi Aramco, the world's biggest oil producer, has resumed operating its computer networks after a virus infected about 30,000 of its workstations earlier this month, the company said Sunday.

AOL Declares Special Dividend

The Internet company also said it would buy back about $600 million in its common stock, part of a plan to return $1.1 billion to the company's shareholders.

Stosur Begins U.S. Open Title Defense With a Rout

Samantha Stosur of Australia beat Petra Martic of Croatia on Monday before rain delayed other early matches at the United States Open.

The Gift of Roddick

A decade has passed since Andy Roddick burst on the scene, all serve and American swagger, in stark contrast to Roger Federer. He will turn 30 on Thursday.

Going Down With Heads Held High

Three divisions away from their normal home in the Scottish Premier League, the first weeks of the 2012-13 season at Rangers have been either depressing or humorous, or both, depending on one's point of view.

Floods, Not Wind, Seen as Main Threat From Storm

Tropical Storm Isaac churned toward the central Gulf Coast on Monday morning, as the authorities issued hurricane warnings along the shoreline and advised residents to begin preparations to evacuate.

Before Gunfire, Hints of 'Bad News'

James Eagan Holmes left no trail of hate behind him before the shootings in Aurora. But interviews with people who knew or had contact with him before the attack tell a story of a man struggling with a mental illness and losing his footing.

Benefits of Circumcision Are Said to Outweigh Risks

The American Academy of Pediatrics has shifted its stance on infant male circumcision, motivated in part by research that says it may protect heterosexual men against H.I.V.
Op-Ed Columnist

The Comeback Skid

Gov. Chris Christie's boasts about tough choices and fiscal responsibility turn out to be a lot like Paul Ryan's.
Op-Ed Columnist

Obama's Team of Idolizers

How a transformative election failed to produce a transformative president.
Op-Ed Columnist

The Last Bipartisan

The story of Ron Wyden and Paul Ryan shows just how perilous lawmaking is in today's Congress.

Gingrich's professor, surrogate hats the same: CBS NEWS | Political Hotsheet Top Stories - August 27, 2012 -.

The CBS News Political Hotsheet newsletter

First day of "Newt University" lectures in Tampa largely a Mitt Romney rally
Read full story
Gingrich's professor, surrogate hats the same

Ryan touts hometown values before heading to Tampa Paul Ryan's home town of Janesville, Wis., gave him a hearty sendoff before his trip to the Republican National Convention

GOP convention opens and adjourns Monday's speaking schedule was canceled due to Isaac

South Carolina voter ID law goes to court A federal court in Washington today begins several days of hearings over South Carolina's contentious voter ID law

Charlie Crist to speak at Democratic convention Republican-turned-independent former Florida governor will speak at the Democratic National Convention next week

Business Day Live: Viewers Don't Want Conventional: DealBook | DealB%K Afternoon Edition - August 27, 2012 -

DealBook Video
Business Day Live: Viewers Don't Want Conventional
Business Day Live: Viewers Don't Want Conventional David Carr on why political conventions should embrace the ethos of reality TV. | Learning how to cut the digital lifeline.
    Deal for Fits Diller's Strategy With the $300 million purchase of the About Group from the New York Times Company, Barry Diller's IAC/InterActiveCorp has once again added to its expanding portfolio of Internet and media brands.
    IAC Agrees to Acquire About for $300 Million Barry Diller's IAC/InterActiveCorp has agreed to buy the About Group from The New York Times Company for $300 million in cash.
    Consumer Bureau Shuffles Staff Leonard Chanin, a senior lawyer who oversaw regulation at the Consumer Financial Protection Bureau, will join the law firm Morrison & Foerster. In turn, the bureau announced that Kelly Thompson Cochran, one of Mr. Chanin's deputies, will take his spot.
    Goldman Executive Is Said to Buy $27 Million Luxury Apartment J. Michael Evans, a Goldman Sachs vice chairman and a leading candidate to become the bank's next chief, is said to have bought an entire floor at 995 Fifth Avenue for $27 million.
    I.B.M. Snaps Up Kenexa I.B.M. has agreed to acquire Kenexa, a maker of recruitment software, for $1.3 billion in cash, or $46 a share.
    Thoma Bravo Agrees to Take Deltek Private for $1.1 Billion Thoma Bravo, a private equity firm based in Chicago, has agreed to buy Deltek, an enterprise software company, for $1.1 billion in cash.
    M&T Bank to Buy Hudson City Bancorp for $3.7 Billion The M&T Bank Corporation has agreed to buy Hudson City Bancorp for $3.7 billion in cash and stock, expanding M&T's reach on the East Coast.
    TPC Group to Go Private in $850 Million Deal Two private equity firms, First Reserve Corporation and SK Capital Partners, have agreed to pay $40 a share in cash for the TPC Group, a specialty chemical maker.
    Economic Reports The data released on Tuesday will include the Standard & Poor's Case-Shiller home price index for June and consumer confidence for August.
    In the United States Martin J. Gruenberg, acting chairman of the Federal Deposit Insurance Corporation, will discuss the agency's quarterly banking profile on Tuesday.
    DealBook Video
    Business Day Live: Viewers Don't Want Conventional
    Business Day Live: Viewers Don't Want Conventional David Carr on why political conventions should embrace the ethos of reality TV. | Learning how to cut the digital lifeline.

MarketWatch: Dow industrials end lower; Apple helps lift Nasdaq: Stocks and Markets in the News | Wall Street at Close report - August 27, 2012 -.

By Myra P. Saefong

SAN FRANCISCO (MarketWatch) -- Blue-chip stocks closed lower Monday, ahead of Federal Reserve Chairman Ben Bernanke's speech at a Fed retreat later this week, while gains in shares of Apple Inc. helped lift the Nasdaq Composite. The Dow industrials DJIA -0.25% closed down 33 points, or 0.3%, at 13,124.67. The Nasdaq Composite COMP +0.11% rose 3.4 points, or 0.1%, to 3,073.19, with shares of Apple AAPL +1.88% up 1.9%. The S&P 500 SPX -0.05% slipped 0.7 point to 1,410.44. "Looks like a confused market, as bond prices rise signaling fear, but small-cap stocks continue their outperformance signaling the opposite," said Michael Gayed, chief investment strategist at Pension Partners LLC. "The world waits for SuperBen and the League of Extraordinary Bankers to put on their suits Friday morning."

Eric Fry: Fed officials are "Champinos of Dishonesty" for rigging markets: s: GATA | THE GATA DISPATCH - August 27, 2012 -

Eric Fry: Fed officials are 'champions of dishonesty' for rigging markets

3:52p ET Monday, August 27, 2012

The Daily Reckoning's Eric Fry today denounces the folks who run the Federal Reserve as "champions of dishonesty" for indulging the rigging of the LIBOR market and for rigging many other markets. Fry doesn't quite get around to including the gold market but at least he implies that if the gold market isn't rigged by the Fed, it's the only market that isn't. "Champions of Dishonesty" is the headline on his commentary and it's posted at the Daily Reckoning here:

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

NYT Business Day Your Money:: Investments / Loans / Planning / Credit / Insurance - August 27, 2012 -

Business Day Your Money

Your Money Topics
Investments | Loans | Planning | Retirement | Credit | Insurance
Robert Neubecker
Your Money
How to Know if You Have Enough Auto Insurance
Auto accidents that cause major injuries are rare, but it still may be worth examining how much insurance coverage you have.
Wealth Matters

In Private Equity, Seeking to Profit From Small-Time Deals

What private equity investors expect going into small deals, as well as what they encountered once they were running someone else's company with their money at stake.


Don't Let the Original Price Haunt Your Decision to Sell

Don't Let the Original Price Haunt Your Decision to Sell

Whether it's Facebook stock or our homes, our tendency to let the price we paid for assets become anchors in our minds can be harmful.

Why You Have 49 Different FICO Scores

A new infographic lays all of the different credit scores out and helps explain why you have so many - and why the one you just bought probably isn't the one your lender is using.

University Credit Unions Can Be Good Choice for Student Banking

A new tool from Nerdwallet helps compare student checking accounts at big banks and campus credit unions.

Half of Homeowners Under 40 Are Still Underwater

The less time you've been in your home, the more likely you've accumulated little equity and seen the value of your property fall since 2005.

From Economixt View: Finance Rules Everything: An interview with Thomas Kochan

Economist's View

'Finance Rules Everything'

An interview with Thomas Kochan, the Bunker professor of management, MIT’s Sloan School of Management, and co-director of the MIT Institute for Work and Employment Research:
Can America Compete?, Harvard Magazine: ...Read the complete article, “Can America Compete?” (September-October 2012)
Harvard Magazine: You speak of a fundamental human-capital paradox in the way American employers and workers interact with each other.
Thomas Kochan: American corporations often say human resources are their most important asset. In our national discourse, everyone talks about jobs. Yet as a society we somehow tolerate persistent high unemployment, 30 years of stagnating wages and growing wage inequality, two decades of declining job satisfaction and loss of pension and retirement benefits, and continuous challenges from the consequences of unemployment on family life. If we really valued work and human resources, we would address these problems with the vigor required to solve them.
HM: What causes this disconnection?
TK: The root cause is that we have become a financially driven economy. The view of shareholder value as corporations’ primary objective has dominated since the 1980s. That motivation—to get short-term shareholder returns—then pushes to lower priority all the other things we used to think about as a social contract: that wages and productivity should go together, that there should be an alignment between the interest of American business and the overall American economy and society. That creates a market failure: it’s not in the interest of an individual firm to address all of the consequences of unemployment and loss of high-quality jobs, but the business community overall depends on high-quality jobs to produce the purchasing power needed to sell their goods and services to the American market. Sixty percent of U.S.-based multinational corporations’ revenue still comes from the U.S. market. We’ve got to solve this market failure.
But I think there is also a deep institutional failure in the United States. We have allowed the labor movement and the government and our educational institutions—the coordinating glue that brought these different interests together and provided some assistance in coordinating economic activity—all to decline in effectiveness. Government is completely polarized and almost impotent at the moment. Unions have declined to the point where they are no longer able to discipline management or serve as a powerful and valued partner with business to solve problems. And I’m concerned that our business schools particularly have receded into the same myopic view of the economic system where finance rules everything, so we aren’t training the next generation of leaders to manage businesses in ways that work for both investors and shareholders and for employees in the community. ...