Wednesday, January 4, 2012

FSCalltothePen: Ryan Braun Suspension Unlikely to be Overturned: Earlier last month, the baseball world was rocked by ... http://t.co/SxVac0Fu #Baseball

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Ryan Braun Suspension Unlikely to be Overturned: Earlier last month, the baseball world was rocked by ... bit.ly/tlXrRB #Baseball FSCalltothePen

Call to the Pen

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Afternoon letters: U.S.-China trade imbalance has harmed U.S.

U.S.-China trade imbalance has harmed U.S.

January 1st, 2012, 12:00 am ? ? posted by Betty Talbert, letters editor

MCT Illustration

LAGUNA WOODS, Jennifer Marks: I usually agree with columnist Walter E. Williams, but he needs to stay away from the subject of international trade. He is not an expert on it. In ?China trade fuss ignores facts? [Dec. 27], he debunks the idea that the U.S.-China trade imbalance is harming our economy. His analysis incorrectly lumps together domestic consumer spending on goods with domestic consumer spending on services. He concludes that only a small fraction of this spending goes to China, and, by doing so, he lumps together apples and oranges.

Manufactured products are not consumer services. Of course, most service providers, like doctors, lawyers, accountants, beauticians and cab drivers, are Americans. In every country, service providers are almost always local people. You are not going to hire a hairstylist in China.

A correct analysis would have left out spending on services and calculated Chinese-manufactured goods as a percentage of all goods purchased in the United States. These numbers would not look nearly as rosy. If, as Williams claims, 16 percent of all U.S. purchases of goods and services were manufactured abroad, probably 32 percent of all manufactured goods were made overseas. That would mean that almost one-third of all goods purchased in the United States were made elsewhere. That is a large percentage and one that could harm our country, particularly if those countries do not reciprocate by buying our manufactured goods in return.

China protects and assists its businesses and industries. They make it hard for foreign businesses to operate in their country. For example, China does not allow foreigners to run a company there. An American wanting to open a plant in China must select a Chinese business partner, whether he wants one or not.

The Chinese government supports businesses and industries in China and recognizes that manufacturing prosperity is essential to economic development.

The U.S. government often acts like business is the enemy of the people. Their anti-business attitudes have driven jobs and whole industries out of this country. Just look at how the Obama administration has been persecuting Boeing, one of our more successful companies. They tried to block Boeing from building another airplane plant in another state. Would they prefer that Boeing just pack up and move their operations overseas?

Finally, Williams? editorial fails to mention intellectual property theft, such as pirated CD?s and the theft of patented U.S. technology, which is endemic in China. He also fails to discuss currency manipulation.

MISSION VIEJO, Bill Chase: I am a Walter E. Williams fan; however, I take exception to much of what was in his column on Dec. 27. He references the value of the imports. Of course, the dollar value is low, and labor and all other costs are lower in China. And costs are lower especially if you steal industrial secrets to develop and manufacture products.

Also, comparing dollar figures from 1980 to today without using inflation references is misleading. The bottom line is that China really is a big culprit in our unemployment problems. Sending money borrowed from China back to them in aid money compounds the issue. The Chinese government is not our friend.

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Tuesday, January 3, 2012

India lets foreign individuals invest in stock (Reuters)

NEW DELHI (Reuters) ? India will allow individual foreign investors direct access to its stock market from January 15, the government said on Sunday, the latest step to liberalize Asia's third-largest economy after a year of big losses on the benchmark Sensex (.BSESN) index.

Previously, foreign nationals were limited to investing in India's equity market through indirect routes such as mutual funds, or through institutional vehicles. [ID:nL3E7J90YK]

"The central government has decided to allow qualified foreign investors to directly invest in (the) Indian equity market in order to widen the class of investors, attract more foreign funds, and reduce market volatility," the government said in a statement.

Analysts said the decision to allow foreign nationals to invest in Indian equities was a positive move but it was unlikely to result in an increased flow of overseas funds in the near-term due to weak market conditions.

"At a time when the foreign institutions are reducing their exposure to India, it would not be prudent to expect foreign individuals to start investing in our markets," said Jagannadham Thunuguntla, research head at brokerage SMC Global Securities.

"We can see some impact of this decision when the stock market conditions improve," he said.

In the past 20 years India has gradually opened its economy to foreign cash. The economy is now faltering after growing at an annual average of about 8 percent for several years.

The rupee shed 24 percent of its value against the dollar last year and the current account deficit is widening.

Many economists predict growth below seven percent for the fiscal year that ends on March 30.

Indian shares posted their first annual fall in three years in 2011 as a combination of near double-digit inflation, high interest rates, slowing domestic growth and policy inaction turned off investors already shaken by global headwinds.

Foreign fund inflows, a major driver of Indian stocks, dried up with net outflows of about $380 million as of Wednesday, a far cry from record inflows of more than $29 billion in 2010 that had powered a 17 percent rise in the benchmark index, following an 81 percent surge in 2009.

(Reporting By Frank Jack Daniel; additional reporting by Sumeet Chatterjee in MUMBAI; Editing by Paul Tait)

Source: http://us.rd.yahoo.com/dailynews/rss/business/*http%3A//news.yahoo.com/s/nm/20120102/bs_nm/us_india_investment

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Wedding Bells Will Ring In New Year For Gay Couples

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POSTED: 5:49 pm HST December 31, 2011
UPDATED: 6:09 pm HST December 31, 2011

Wedding Bells Will Ring In New Year For Gay Couples

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At 12:01 four couples will tie the knot, at the same time 2 gay married couples reflect on the change in Hawaii's laws

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Source: http://www.kitv.com/video/30111450/index.html

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Monday, January 2, 2012

Nigeria calls state of emergency over sect attacks (AP)

ABUJA, Nigeria ? Nigeria's president on Saturday declared a state of emergency in parts of Africa's most populous nation, after a recent slew of deadly attacks blamed on a northern-based radical Muslim sect killed dozens of people, as separate communal clashes in the country's southeast left more than 40 dead.

President Goodluck Jonathan declared an indefinite state of emergency in four states, which would all allow security agencies there to make arrests without proof and conduct searches without warrants. He also ordered the closure of international borders near the affected areas.

They include parts of northeastern state of Yobe and the central states of Plateau and Niger, all hit by the Christmas Day attacks that left at least 42 people dead, for which a radical sect known as Boko Haram claimed responsibility. Attackers targeted churches and one of the state offices of Nigeria's secret police.

The president also declared a state of emergency in parts of the northeastern state of Borno, a stronghold of the feared Islamic sect.

"What began as sectarian crises in the northeastern parts of the country has gradually evolved into terrorist activities in different parts of the country with attendant negative consequences on our national security," Jonathan said.

"(The state of emergency) means extra powers to security agencies in those areas," said National Security Adviser Owoye Azazi, who also told journalists in Abuja that it would last "until the situation improves."

Jonathan also said Saturday that he has directed top security officials to set up a special counterterrorism unit to fight the growing threat posed by Boko Haram.

Earlier in the year, an Aug. 26 bombing of the United Nations headquarters in Nigeria's capital Abuja killed 24 people and wounded 116 others. The sect claimed responsibility for that attack.

The Christmas attacks come a year after a series of Christmas Eve bombings in central city of Jos in the nation's "middle belt," where the country's largely Muslim north meets its largely Christian south. Last year's Christmas attacks claimed by the militants left at least 32 dead and 74 wounded.

"Terrorism is a war against all of us," Jonathan said as he spoke during an address on national television on Saturday. "I call on all Nigerians to join hands with government to fight these terrorists."

The sect, some of whose members are believed to have links to al-Qaida, wants to impose Islamic Shariah law across Nigeria.

The U.S. Embassy had warned U.S. citizens late Friday to exercise caution in Nigeria.

"Violent extremist attacks have continued in various locations, including the states of Bauchi, Borno, Gombe, Kaduna, Kano, Niger, Plateau, and Yobe, resulting in numerous casualties," the warning read.

Boko Haram's widening terror attacks, though, are only further intensifying religious and ethnic divisions in Nigeria. In this nation of more than 160 million people, thousands have died in recent years in communal fighting pitting machete-wielding neighbors against each other.

In the southeastern state of Ebonyi, more than 40 people died in clashes early Saturday morning between the Ezza and Ezillo peoples who have long-standing rivalries, said state police spokesman John Elu. He said troops had been deployed, but the situation was still tense.

The conflict, which occurred far from the regions affected by the state of emergency, has no apparent link to the Islamic insurgency that has erupted in mostly northern states. However, such clashes add to Nigeria's serious security concerns which Boko Haram has exacerbated over the last year.

The sect came to national prominence in 2009, when its members rioted and burned police stations near its base of Maiduguri, a dusty northeastern city on the cusp of the Sahara Desert. Nigeria's military violently put down the attack, crushing the sect's mosque into shards as its leader was arrested and died in police custody. About 700 people died during the violence.

While initially targeting enemies via hit-and-run assassinations from the back of motorbikes after the 2009 riot, violence by Boko Haram now has a new sophistication and apparent planning that includes high-profile attacks with greater casualties. That has fueled speculation about the group's ties as it has splintered into at least three different factions, diplomats and security sources say. They say the more extreme wing of the sect maintains contact with terror groups in North Africa and Somalia.

Targeting the group has remained difficult, as sect members are scattered throughout northern Nigeria and nearby Cameroon, Chad and Niger.

___

Associated Press writer Yinka Ibukun contributed to this report from Lagos.

Source: http://us.rd.yahoo.com/dailynews/rss/world/*http%3A//news.yahoo.com/s/ap/20111231/ap_on_re_af/af_nigeria_violence

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Sunday, January 1, 2012

mitchellholder: @lordandrew1 I agree. Compared to other NBA teams, the #Kings have some weird dynamic going on. Feel bad for #Jimmer.

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@lordandrew1 I agree. Compared to other NBA teams, the #Kings have some weird dynamic going on. Feel bad for #Jimmer. mitchellholder

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Bobcats: 17pts from @ghostC5M and 10 more from #DJAugustin lead the way but no other #CLT player in double figures #NBA

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17pts from @ghostC5M and 10 more from #DJAugustin lead the way but no other #CLT player in double figures #NBA Bobcats

Charlotte Bobcats

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