School Yoga Class Draws Religious Protest From Christians


T. Lynne Pixley for The New York Times


Miriam Ruiz during a yoga class last week at Paul Ecke Central Elementary School in Encinitas, Calif. A few dozen parents are protesting that the program amounts to religious indoctrination. More Photos »







ENCINITAS, Calif. — By 9:30 a.m. at Paul Ecke Central Elementary School, tiny feet were shifting from downward dog pose to chair pose to warrior pose in surprisingly swift, accurate movements. A circle of 6- and 7-year-olds contorted their frames, making monkey noises and repeating confidence-boosting mantras.




Jackie Bergeron’s first-grade yoga class was in full swing.


“Inhale. Exhale. Peekaboo!” Ms. Bergeron said from the front of the class. “Now, warrior pose. I am strong! I am brave!”


Though the yoga class had a notably calming effect on the children, things were far from placid outside the gymnasium.


A small but vocal group of parents, spurred on by the head of a local conservative advocacy group, has likened these 30-minute yoga classes to religious indoctrination. They say the classes — part of a comprehensive program offered to all public school students in this affluent suburb north of San Diego — represent a violation of the First Amendment.


After the classes prompted discussion in local evangelical churches, parents said they were concerned that the exercises might nudge their children closer to ancient Hindu beliefs.


Mary Eady, the parent of a first grader, said the classes were rooted in the deeply religious practice of Ashtanga yoga, in which physical actions are inextricable from the spiritual beliefs underlying them.


“They’re not just teaching physical poses, they’re teaching children how to think and how to make decisions,” Ms. Eady said. “They’re teaching children how to meditate and how to look within for peace and for comfort. They’re using this as a tool for many things beyond just stretching.”


Ms. Eady and a few dozen other parents say a public school system should not be leading students down any particular religious path. Teaching children how to engage in spiritual exercises like meditation familiarizes young minds with certain religious viewpoints and practices, they say, and a public classroom is no place for that.


Underlying the controversy is the source of the program’s financing. The pilot project is supported by the Jois Foundation, a nonprofit organization founded in memory of Krishna Pattabhi Jois, who is considered the father of Ashtanga yoga.


Dean Broyles, the president and chief counsel of the National Center for Law and Policy, a nonprofit law firm that champions religious freedom and traditional marriage, according to its Web site, has dug up quotes from Jois Foundation leaders, who talk about the inseparability of the physical act of yoga from a broader spiritual quest. Mr. Broyles argued that such quotes betrayed the group’s broader evangelistic purpose.


“There is a transparent promotion of Hindu religious beliefs and practices in the public schools through this Ashtanga yoga program,” he said.


“The analog would be if we substituted for this program a charismatic Christian praise and worship physical education program,” he said.


The battle over yoga in schools has been raging for years across the country but has typically focused on charter schools, which receive public financing but set their own curriculums.


The move by the Encinitas Union School District to mandate yoga classes for all students who do not opt out has elevated the discussion. And it has split an already divided community.


The district serves the liberal beach neighborhoods of Encinitas, including Leucadia, where Paul Ecke Central Elementary is, as well as more conservative inland communities. On the coast, bumper stickers reading “Keep Leucadia Funky” are borne proudly. Farther inland, cars are more likely to feature the Christian fish symbol, and large evangelical congregations play an important role in shaping local philosophy.


Opponents of the yoga classes have started an online petition to remove the course from the district’s curriculum. They have shown up at school board meetings to denounce the program, and Mr. Broyles has threatened to sue if the board does not address their concerns.


The district has stood firm. Tim Baird, the schools superintendent, has defended the yoga classes as merely another element of a broader program designed to promote children’s physical and mental well-being. The notion that yoga teachers have designs on converting tender young minds to Hinduism is incorrect, he said.


“That’s why we have an opt-out clause,” Mr. Baird said. “If your faith is such that you believe that simply by doing the gorilla pose, you’re invoking the Hindu gods, then by all means your child can be doing something else.”


Ms. Eady is not convinced.


“Yoga poses are representative of Hindu deities and Hindu stories about the actions and interactions of those deities with humans,” she said. “There’s content even in the movement, just as with baptism there’s content in the movement.”


Russell Case, a representative of the Jois Foundation, said the parents’ fears were misguided.


“They’re concerned that we’re putting our God before their God,” Mr. Case said. “They’re worried about competition. But we’re much closer to them than they think. We’re good Christians that just like to do yoga because it helps us to be better people.”


Read More..

Downtown property owners fight MTA subway tunnel plans









As the MTA moves closer to starting construction on a subway tunnel in downtown Los Angeles, some property owners have dug in for a fight.


The big landlords fear that the Metropolitan Transportation Authority's plans to build a massive trench on Flower Street will disrupt their businesses for years, costing millions of dollars in lost revenue.


The four-story-deep canyon planned by the MTA would travel through more than two busy city blocks of the financial district, which includes popular destinations such as the Westin Bonaventure Hotel, the Central Library and the City National Plaza office and retail complex.





Predictably, this clash of potent forces — transportation and real estate — has spawned lawsuits that threaten to delay the project and potentially add millions to the cost.


Influential landowners said they want the city to do more of the work underground to connect separate subway lines into one seamless system. The MTA said it was technologically impossible because of some unusual construction barriers.


What's clear is that the subway has put some of the city's most civic-minded property owners, who helped spawn downtown's renaissance, in the awkward position of opposing a highly popular project that they, in fact, want.


"The connector is very important for the community, and so is the existence of businesses located along the connector route," said Gary L. Toebben, president of the Los Angeles Area Chamber of Commerce. "We were very hopeful there could be a win-win solution. It doesn't look like they have gotten to that point."


The $1.4-billion Regional Connector subway is a top MTA priority because it would eliminate a major bottleneck in the system caused by a lack of interconnections between rail lines. Upon completion in 2019, riders would be able to travel from Azusa to Long Beach or from East Los Angeles to Santa Monica without changing trains twice, as the current system requires.


It also would help speed workers and visitors to the financial district, a major benefit for landlords and tenants.


"We agree the connector will facilitate ridership on the transit system," said Paul S. Rutter, co-chief operating officer of Thomas Properties Group. "We are not objecting to the line or its route."


The problem, as far as property owners are concerned, is how construction would be carried out.


Most of the 1.9-mile subway from Little Tokyo to the 7th Street/Metro Center station would be built underground with tunnel-boring machines.


But the MTA plans to finish the line's last section— 4th Street to south of 6th Street — with "cut and cover" construction.


That means digging a deep, wide trench on Flower Street, laying train tracks and then refilling the trench on top of the new subway tunnel. During most of the construction, the street would be accessible to traffic because of metal plates placed over the hole.


Thomas Properties, the owner of City National Plaza, one of Southern California's largest office complexes, is a leading voice of opposition. The company would like to see tunneling continue south on Flower Street two more blocks to 6th Street.


"We're concerned that the MTA is not taking into account adequately the stakeholders on Flower Street," Rutter said.


The MTA has proposed stopping the tunneling at 4th Street. The transit agency has said a longer tunnel would be too costly and isn't feasible because of underground obstacles left by builders of past projects.


During construction of the Bonaventure, City National Plaza and other skyscrapers in the 1960s and 1970s, builders drove hundreds of steel cables, called tiebacks, deep into the ground to support the underground garage walls made during excavation.


Those cables are no longer structural supports for the buildings, but they are still under the surface and would tangle the maws of digging machines, according to the MTA.


"It's not possible to tunnel through the tiebacks," said Diego Cardoso, an MTA executive officer. "A review by tunnel experts concurs with us."





Read More..

Connecticut school shooting: 18 children among 27 dead










Twenty-seven people, including 18 children, have been killed in a shooting at Sandy Hook Elementary School in suburban Connecticut, according to Associated Press.


The report cites an official with knowledge of the situation.








The toll was far larger than earlier reports.


PHOTOS: Shooting at Connecticut elementary school


Other media reported different numbers but all agreed that the toll was around two dozen dead with others injured.


More details are expected at an upcoming news conference.


Newtown, Conn., Mayor Mark D. Boughton told reporters that those killed in the Friday morning assault included the shooter.

The Hartford Courant has reported that children may be among the dead, although police have not confirmed any numbers at Sandy Hook Elementary School.


In an interview with Fox News, Boughton spoke of the "multiple fatalities" at the school in Fairfield County in the western part of the state.


TIMELINE: Deadliest U.S. mass shootings


Boughton would not identify the victims or the circumstances under which they died.

But other officials have confirmed at least one of the dead was the shooter, an adult. Other dead are believed to include at least one student at the elementary school.


At least three wounded have been taken to a hospital in Danbury, the mayor confirmed.


“I can’t discuss who they are but some injuries are serious,” Boughton said.


 He refused to discuss the dead pending a 1 p.m. EST news conference by police.


“There is still a sweep going on,” he said of police efforts. “I’m sorry I can’t go into the details.”


In a statement posted on its website, Danbury Hospital said: “To date, three patients have been transported to Danbury Hospital from the scene.


"Out of abundance of caution and not because of any direct threat our building is under lockdown. This allows us simply to focus on the important work at hand,” the hospital stated.


 Officials were still investigating the incident, which began at about 9:40 a.m. EST at the school in Newtown, a town of about 27,000 people.


Within hours, officials were reporting that the gunman was found dead and two handguns were recovered at the scene.


Stephen Delgiadice told reporters that his  8-year-old daughter heard two big bangs and teachers told her to get in a corner. His daughter was fine.


“It's alarming, especially in Newtown, Conn., which we always thought was the safest place in America,” he said.


The superintendent's office said the district had locked down schools in Newtown, about 60 miles from  New York City. Nearby schools also were locked down as a security measure.


michael.muskal@latimes.com







Read More..

Apple falls on lower shipment forecasts, muted China debut






(Reuters) – Apple Inc shares fell 3.9 percent on Friday after the iPhone 5 debuted in China to a cool reception and two analysts cut shipment forecasts.


Jefferies analyst Peter Misek trimmed his iPhone shipment estimates for the Jan-March quarter, saying that the technology company had started cutting orders to suppliers to balance excess inventory.






Shares of Apple suppliers Jabil Circuit Inc, Qualcomm Inc, Skyworks Solutions Inc, TriQuint Semiconductor Inc, Avago Technologies Ltd, and Cirrus Logic Inc also fell in early trading.


Apple shares have lost a quarter of their value since they hit a life high of $ 705.07 on September 21, as it faces increasing competition from phones using Google Inc’s Android operating system.


Misek cut his first-quarter iPhone sales estimate to 48 million from 52 million and gross margin expectations for the company by 2 percentage points to 40 percent.


UBS Investment Research cut its price target on Apple stock to $ 700 from $ 780 on lower expected iPhone and iPad shipments for the March quarter.


The brokerage said it was modeling more conservative growth for the world’s biggest technology company after making supply chain checks that revealed that fewer iPhones were being built.


“Some of our Chinese sources do not expect the iPhone 5 to do as well as the iPhone 4S,” UBS analyst Steven Milunovich wrote in a note to clients.


Apple launched the iPhone 5 in China on Friday, a move widely expected to bring the Cupertino-based company some respite from a recent slide in market share in China, but early reports indicated that demand may not be as great as expected.


“The iPhone 5 China launch has been surprisingly muted but (we) are unsure how much weather (snow) or the required pre-ordering (to prevent riots) are factors,” Misek said.


Apple shares fell as low as $ 508.50 in morning trading on the Nasdaq on Friday.


(Editing by Supriya Kurane)


Tech News Headlines – Yahoo! News


Read More..

Final celebrity burglary defendant enters plea


LOS ANGELES (AP) — The final defendant in a group charged with burglarizing celebrities' homes pleaded no contest Friday to receiving a jacket stolen from Paris Hilton.


Courtney Leigh Ames entered the plea and is expected to be sentenced on Feb. 1 to three years of supervised probation and 60 days of community service.


Prosecutors dropped felony residential burglary, conspiracy to commit burglary charges and another count of receiving stolen property in exchange for the plea.


Ames, who had been charged with breaking into Hilton's home, had also been accused of wearing a necklace stolen from Lindsay Lohan's home to court.


Authorities arrested most of the group in October 2009 and accused them of a months-long crime spree that netted more than $3 million in clothes, jewelry and art from the homes of stars such as Lohan, Hilton, Orlando Bloom and Megan Fox and Brian Austin Green.


All the stars have agreed not to seek restitution for their losses.


One of the defendants, Alexis Neiers, quickly ended her case and starred in the short-lived E! Entertainment Television reality show "Pretty Wild," which prominently featured the court case. Lifetime created a television movie inspired by the case and Oscar-winner Sofia Coppola has filmed a movie based on the burglaries and their fallout.


Coppola's film was aided by the lead investigator on the case, Los Angeles police office Brett Goodkin, who failed to disclose his paid work and appearance in the film. That became an issue in recent months and prompted Superior Court Judge Larry Paul Fidler to call Goodkin's actions "stupid" and a gift to defense attorneys, but not egregious enough to warrant an outright dismissal of the charges against Ames and two other defendants.


Had the case against the trio gone to trial, jurors would have heard directly from one of the group's ringleaders, Nicholas Frank Prugo. The 21-year-old pleaded no contest in March to burglarizing the homes of Lohan and reality star Audrina Patridge and is scheduled be sentenced to two years in prison in in January.


Another accused ringleader, Rachel Lee, pleaded no contest to burglarizing Patridge's home and is serving a four year state prison sentence.


A Louis Vuitton bag full of jewelry was returned to Hilton after several members of the group were arrested, but much of the stolen property hasn't been recovered.


___


Anthony McCartney can be reached at http://twitter.com/mccartneyAP


Read More..

Life, Interrupted: My Mother’s Cooking

Life, Interrupted

Suleika Jaouad writes about her experiences as a young adult with cancer.

For many of us, the holiday season triggers memories of food and family. That’s certainly the case for me. I can always tell when my mother, an artist who grew up in Switzerland, starts to feel nostalgic for home. It is the smell of the crispy apple tarts, the ginger cookies, and the creamy muesli full of nuts and fresh berries. The scent alone delivers a rush of childhood memories for me.

Food has always been an important part of my family. But since I was diagnosed with leukemia two years ago, food has taken on an especially central — and complicated — role in my life. My incredible doctors have been in charge of deciding which chemotherapy treatments and medications I will take. Their role has always been clear. But for my mother, who has always been in action to take care of me but often feels powerless against my mysterious disease, the prescription she draws upon is often a remedy from the kitchen.

My mother comes from a small village on the Lac de Neuchâtel where there is one bakery, one butcher and one grocery store. Even after decades in New York, she prefers home cooking to ordering in. So when I fell ill at the age of 22 and had to move back home with my parents, my mother tailored and amended the vaunted Swiss recipes from her childhood to make them as nutritious and immune system-boosting as possible. It wasn’t infrequent that a red lentil soup or zucchini stuffed with risotto was the highlight of a day otherwise spent in bed staring at my childhood bookshelves and pondering my future.

But my relationship with food has been complicated since my cancer diagnosis. Chemotherapy can wipe out the biggest appetite. It can render delectable food not only inedible, but downright unviewable, unsmellable, unthinkable. After my first hospitalization, a six-week stay in isolation, I quickly learned to be careful about which foods I chose to eat when I was in the depths of sickness. Some of my all-time favorites, like my mother’s rice pudding (extra cinnamon, with cardamon and grated almonds, plus my mom’s T.L.C.), no longer represented comfort food but triggered memories of nausea, the beeping of the I.V. machine and the fluorescent lights of the hospital room. Like other dishes, it has become a food casualty of chemo.

Having cancer changed the way I ate and thought about food. My symptoms dictated my eating habits. The sores in my mouth and the bouts of nausea, for instance, stole the pleasure of eating and made it an ordeal. At some points in my treatment, eating wasn’t even an option. During my bone marrow transplant last April, my only food came in the form of yellow-green liquid hanging from an I.V. pouch. It was the first time I considered how the physicality of eating — the cutting with a knife or slurping with a spoon or chewing of tender meat — was a big part of what I enjoyed about food. In the transplant unit, I remember wanting, more than anything, to bite into a stick of celery. I dreamt about the “crunch.”

Now, more than a year and a half since my first chemotherapy treatment, I’ve come up with a plan to preserve the memory and delight of my mother’s favorite recipes. I only eat the very best of her cooking when I am in-between chemotherapy treatments. I try to make sure not to mix nausea and my favorite foods — because I have found that it confuses not only the taste buds, but also the emotion and memory of eating itself.

As I continue to cope with the effects of cancer and treatment, I am determined to preserve one of my favorite things in life — my mother’s cooking and the many childhood memories that go with it. As a result, I have to refuse her cooking once in a while, saving her food for only my best days. I hope there are a lot of those ahead.


Birchermuesli

The original “muesli” was invented by Dr. Maximilian Oskar Bircher-Benner (1867-1939), a Swiss physician who fed his patients a small portion of this dish before each meal in his health clinic near Zürich. Derided by his colleagues for his belief in the importance of fresh food for health, he is now considered the guru of the raw food movement. The original recipe has been adapted by muesli lovers all over the world, who have swapped in seasonally available and ripe fruit where appropriate. For individuals with dietary restrictions, oats can be replaced with spelt flakes, millet flakes or other grains. In Switzerland, muesli is simply called “bircher,” after its inventor, and many Swiss eat bircher every day for breakfast or as a light meal. Muesli, a word from the Swiss German dialect which means “little purée,” and mostly known today in its commercialized version, is very different from this homemade recipe. Use whatever fresh ripe fruit you like and is seasonally available to you.

1 cup rolled oats, soaked overnight or for several hours
1 1/2 cups whole, almond, soy or other milk, or orange or apple juice
1/4 cup dried fruit, such as raisins or diced dates
1/4 to 1/2 cup hazelnuts, walnuts or almonds, finely chopped
1 large apple, grated
1 banana, sliced
1/2 cup plain yogurt, plus additional to taste
1 tablespoon fresh lemon juice or more
Finely grated zest of organic lemon, to taste (optional)
1/4 cup fresh grapes, halved
1/2 cup raspberries, blackberries, blueberries or chopped strawberries, plus a few additional berries to garnish
1/2 orange or peach, chopped
1 apricot or kiwi, chopped
Brown sugar or stevia, to taste (optional)
1 tablespoon flaxseed oil (optional)

1. Soak the oats in milk overnight or for a few hours. In the morning, add the dried fruit, nuts, apple, banana, yogurt, lemon juice and zest, if using, and mix to combine. Add the grapes, berries, the remaining fresh fruit, brown sugar and flaxseed oil, if using, and gently fold the fresh fruit into the mixture. Garnish with a few fresh berries and serve.

Bircher, a raw food recipe, makes a great breakfast or snack, and will keep refrigerated for up to two days, and a day-old bircher is even better.

Yield: 4 to 6 servings


Croûte Aux Champignons (Mushrooms on Toasts)

These mushrooms on toasts are delicious and work with any mix of mushrooms, but if you can find a mix of wild mushrooms, it makes the toasts particularly wonderful. Try serving them with a simple green salad or the “Carrot and Celery Root Salad,” below.

4 to 5 slices country or whole wheat bread, preferably day-old, or more slices from a baguette
2 to 3 tablespoons unsalted butter or olive oil
1/2 medium onion or 1 large shallot, thinly sliced
1 pound mixed mushrooms, sliced
1 cup white wine or stock
Fine sea salt, to taste
Freshly ground black pepper, to taste
1 cup heavy cream (optional)
Finely chopped flat-leaf parsley, for garnish
1/4 cup grated cheese, optional (see below)

1. In a large skillet set over medium high heat, melt the butter until foaming or warm the oil until shimmering. Add the onion or shallot, and cook, stirring, until transparent, about 4 minutes. Add the mushrooms, and cook until the mushrooms have released their liquid and the pan is dry, about 3 minutes. Add the wine or stock and cook until the liquid reduces by half, about 5 to 10 minutes. Season to taste with salt and pepper. Add the cream and cook, stirring, until the mixture thickens, about 5 minutes.

2. While the mushrooms cook, lightly toast the bread in the toaster. Spoon the mushrooms on toasted bread. Sprinkle with parsley and serve.

Optional: Heat the oven to 400 degrees with the rack positioned in the middle. Place the mushroom toasts on a shallow baking sheet and sprinkle with the grated cheese. Bake for 8 to 10 minutes, or until the cheese has melted and lightly browned. Garnish with more black pepper to taste, and serve immediately.

Variation: Replace mushrooms with spinach. Or use half spinach and half mushrooms, adding the spinach once mushrooms has softened. Cook until the spinach has wilted before adding wine or stock. Proceed with the rest of the recipe as written above.

Yield: 4 servings



Carrot and Celery Root Salad

This crunchy and delicious salad makes for a great accompaniment to “Mushrooms on Toast.”

1 1/2 cups finely grated carrot (from about 8 ounces of carrots)
1 1/2 cups finely grated celery root (from about 8 ounces of celery root)
Fine sea salt, to taste
1 tablespoon apple cider vinegar
1 teaspoon mustard
3 tablespoons olive or toasted sesame oil
Freshly ground black pepper, to taste

Place the carrot and celery root in a large bowl and toss to combine. In a small bowl, add the salt to the vinegar and let sit for 1 minute for the salt to dissolve. Add the mustard and whisk to combine. Add the oil and black pepper, and whisk to combine. Pour the dressing over the vegetables and toss to combine. Serve immediately or refrigerate until ready.

Variation: Add 1 tablespoon grated hazelnuts or almonds, or 1 tablespoon or more of plain yogurt mixed with 1 teaspoon chopped chives.

Yield: 4 servings


Lentil Soup With Tomato

1 cup red lentils, rinsed
1 dried bay leaf
1 tablespoon unsalted butter or olive oil
1 teaspoon ground coriander, plus additional to taste (see below)
1 teaspoon ground cumin or ginger
1/2 teaspoon curry powder
1 pinch cayenne pepper, plus more to taste
1 pinch sugar
1 pinch ground cloves
1 (7-ounce) can peeled tomatoes, chopped (or 2 fresh tomatoes, peeled and chopped)
Fine sea salt, to taste
1/2 cup sour cream (optional)
2 tablespoons finely chopped fresh flat-leaf parsley (optional)

1. Place the lentils in a medium pot set over medium-high heat, add 3 cups water and bay leaf, and bring to a simmer. Cook until the lentils are tender, about 10 minutes. Remove from heat and set aside.

2. In a large pot set over medium heat, add the butter or oil, coriander, cumin, curry, cayenne, sugar and cloves, and warm the mixture until the spices are fragrant, about 1 minute. Add the tomatoes, with their juices, and 1/2 cup water, and bring everything to a boil. Add the reserved lentils and their liquid, reduce the heat to low, and simmer about 5 minutes. Add salt to taste and purée the soup, in batches, in a blender, until smooth. If you prefer, you can thin the soup out with more water. If you like, mix the sour cream with parsley, and add ground coriander to taste. Serve the soup with a dollop of the herbed sour cream.

Yield: 4 servings


Suleika Jaouad (pronounced su-LAKE-uh ja-WAD) is a 24-year-old writer who lives in New York City. Her column, “Life, Interrupted,” chronicling her experiences as a young adult with cancer, appears weekly on Well. Follow @suleikajaouad on Twitter.

Read More..

Best Buy extends deadline for founder to make takeover offer









Struggling Best Buy Co. has agreed to give founder and former chairman Richard Schulze more time to make a takeover bid for the electronics chain.


The agreement allows Schulze, the company's biggest shareholder, to wait until the end of the holiday season and fiscal year before making an offer.


In a statement, Best Buy said the extension "is in the best interests of shareholders" and will give Schulze and potential partners more time for due diligence on the company.





Shares of the company, which rose Thursday on news of an imminent buyout offer, fell $2.08, or 14.7%, to $12.04 in mid-session trading Friday.

Under the new terms, Schulze can make a proposal anytime in February, extending his previous deadline of mid-December. Then the board of directors will have 30 days to consider the offer.


In August, Schulze had offered to take the company private for $24 to $26 a share, a deal that could have been worth as much as $8.84 billion. Best Buy eventually agreed to open its books so Schulze could dig deeply into its finances before making another offer.


Complicating any potential deal is the relationship between Schulze and Best Buy's board, which Schulze led as chairman until a scandal involving its then-chief executive forced him to step down in June.


In April, Brian Dunn, then Best Buy's chief executive, resigned amid allegations that he engaged in an inappropriate relationship with a female employee. The board then voted to oust Schulze after an internal investigation revealed that he had known of Dunn's indiscretions months earlier and failed to take action.


Schulze remains the company's largest stakeholder with 20% of its shares.


Even if the 71-year-old Schulze succeeds in taking Best Buy private, he'll be taking over a company and a competitive landscape that looks nothing like they did when he founded the chain in 1966.


The company, based near Minneapolis, is the biggest survivor of the consumer electronics shakeout that saw the demise of Circuit City and a host of regional competitors. But the slowing market for DVDs and CDs and competition from online rivals have dimmed its prospects.


Despite its turnaround efforts, industry watchers speculate that Best Buy may eventually go the way of Circuit City, the former rival that closed its last store in 2009.


ALSO:


Best Buy chairman, founder Richard Schulze resigns early


Best Buy founder Richard Schulze offers to buy struggling retailer


Best Buy founder Richard Schulze's shadow hangs over annual meeting


Follow Shan Li on Twitter @ShanLi





Read More..

Fed to tie interest rate to job gains









WASHINGTON — The Federal Reserve said it will continue aggressive measures to stimulate the economy and made a major policy shift to focus more directly on boosting the job market.


Fed policymakers said they would keep interest rates at historically low levels until unemployment drops below 6.5%.


It's likely to keep the Fed's short-term interest rates at historically low levels well into 2015.





The move marked the first time that Fed policymakers have tied themselves to an explicit unemployment goal. It appeared to end the long-running debate within the central bank over how aggressively to target the nation's lagging job market.


The jobless figure was 7.7% in November, and the Fed's new forecast doesn't see that dropping below 6.5% for about three years.


The decision was made easier by the slow pace of inflation, which remains below 2% on an annual basis. Critics of the Fed's policies have argued that efforts to stimulate the economy would lead to inflation, but so far, that has not happened, and Fed Chairman Ben S. Bernanke has argued that the risk is much smaller than the dangers posed by high unemployment.


"The conditions now prevailing in the job market represent an enormous waste of human and economic potential," Bernanke said Wednesday during a news conference after the central bank's last policy meeting of the year.


Under its new policy, the Fed would let its inflation outlook rise to 2.5% before taking action to curtail it — giving the nation's employers more time to create jobs.


The move to link interest rate policies directly to the jobless rate is meant to give the public and businesses greater confidence about how long interest rates will remain exceptionally low, and that by itself could act as a kind of stimulus to the economy.


The new push got a warm welcome from both economists and Wall Street.


Economist Bernard Baumohl at the Economic Outlook Group said the previous time frame for action was "self-defeating because it provided no incentive for employers to start spending any time soon to avoid higher interest rates. It just didn't create any sense of urgency to accelerate investments or increase the rate of hiring."


The Fed has kept its federal funds rate, which influences rates for credit cards, mortgages and business and other loans, near zero since December 2008. Unemployment has been near 8% or above since early 2009.


Bernanke and his colleagues also decided Wednesday to continue the controversial large-scale bond-buying programs in the new year. Specifically, the Fed will buy $40 billion of mortgage-backed securities and $45 billion of long-term Treasury bonds a month.


The purchases are intended to drive down long-term interest rates to spur spending, investment and lending, boosting economic activity as well as hiring.


The central bank launched the purchase of mortgage-backed securities in September to give a lift especially to the housing market, which Fed policymakers said Wednesday "has shown further signs of improvement." They said they would continue to buy bonds until the job market "improved substantially."


The Fed, which has a dual mandate to maximize employment and keep inflation in check, also forecast a somewhat stronger growth for next year.


Its policy statement Wednesday noted a slowing in U.S. business investment and "significant downside risks" in the global economy, but made no mention of the so-called fiscal cliff, the automatic federal budget cuts and tax hikes scheduled to take effect beginning Jan. 1.


In a 75-minute news conference, however, Bernanke said it was clearly evident that concerns about the fiscal impasse already had hurt the economy, weakening business investments and consumer confidence.


He said that whatever the Fed did, it was not enough to offset the full effects of a U.S. economy failing to resolve fiscal issues. But he was cautiously optimistic: "I actually believe that Congress will come up with a solution, and I certainly hope they will."


For years, the Fed didn't give any indication of its future interest-rate path and only in recent years signaled what it might do by using somewhat vague language. In June 2011, the Fed said that it would keep rates exceptionally low for an "extended period." In August 2011, policymakers said no change was likely until at least mid-2013. And that date has since been extended twice, to late 2014 and then mid-2015.





Read More..

Documents: Prisoner plotted to kill Justin Bieber


LAS CRUCES, N.M. (AP) — An imprisoned man whose infatuation with Justin Bieber included a tattoo of the pop star on his leg has told investigators in New Mexico he hatched a plot to kill him.


Court documents in a New Mexico district court say Dana Martin told investigators he persuaded a man he met in prison and the man's nephew to kill Bieber, Bieber's bodyguard and two others not connected to the pop star.


He told investigators that Mark Staake and Tanner Ruane headed east, planning to be near a Bieber concert scheduled in New York City. They missed a turn and crossed into Canada from Vermont. Staake was arrested on an outstanding warrant. Ruane was arrested later.


The two men face multiple charges stemming for the alleged plot.


Read More..

Eli Lilly to Conduct Additional Study of Alzheimer’s Drug





The drug maker Eli Lilly & Company said on Wednesday that it planned an additional study of an experimental Alzheimer’s drug that failed to improve the condition of people with the disease, saying that it remained hopeful about the drug’s prospects.




The newest study is expected to get under way in the third quarter of 2013 and will focus on patients with mild Alzheimer’s disease. Lilly released results of two clinical trials in August that showed the drug, called solanezumab, did not significantly improve either the cognition or the daily functioning of people with mild and moderate forms of the disease. But despite that failure, the results also gave some reason for hope: when patients with mild Alzheimer’s were separated out, the drug was shown to significantly slow their decline in cognition.


In a statement on Wednesday, the company said it decided not to pursue approval of the drug based on existing study results after it met with officials from the Food and Drug Administration. A Lilly executive said, however, that the company was still optimistic.


“We remain encouraged and excited by the solanezumab data,” David Ricks, a senior vice president at Lilly and president of Lilly Bio-Medicines, said in the statement. “We are committed to working with the F.D.A. and other regulatory authorities to bring solanezumab to the millions of patients and caregivers suffering from this devastating disease who urgently need this potential treatment.”


The Lilly drug is the second Alzheimer’s treatment to fail in clinical trials this year. Pfizer and Johnson & Johnson stopped development of a similar treatment, bapineuzumab, after it, too, was not shown to work. Both drugs target beta amyloid, a protein in the brain that is found in people with Alzheimer’s disease.


Lilly shares closed at $49, down 3.2 percent.


Read More..