Tuesday, March 5, 2013

HSBC net profits drop by 17 percent

LONDON (AP) ? The HSBC banking group said Monday its full-year net profits dropped by 17 percent in 2012 but remained high at $13.5 billion as its Asian business continued to perform well.

The figures reflect HSBC's nearly $2 billion in fines paid to settle a money-laundering case brought by U.S. officials that dealt with drug money from Mexico. The net profit was also hurt by an accounting loss on the value of the bank's own debt.

The bank says its "underlying profit" before tax ? a measure that does not count one-time charges ? totaled $16.4 billion, an 18 percent increase over 2011, when it had booked heavier on-time charges on bad loans.

Group Chief Executive Stuart Gulliver said the bank has made important progress and is performing well. The bank increased its dividend payout by 10 percent for the full year compared with 2011.

The global banking group earns roughly 90 percent of its revenue outside of Britain and has done well in growing Asian markets.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/f70471f764144b2fab526d39972d37b3/Article_2013-03-04-Britain-Earns-HSBC/id-0753b128f244421eb297c8947ad1eb5c

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Monday, March 4, 2013

Pope's new clothes? Check. Tailor rolls out robes

AAA??Mar. 4, 2013?8:34 AM ET
Pope's new clothes? Check. Tailor rolls out robes
AP

Papal shoes and a white skull cap are seen beneath three sets of papal outfits - small, medium and large sizes - which will be sent to the Vatican for the new pope, are displayed in the Gammarelli tailor shop window, in Rome, Monday, March 4, 2013. For over a half century the Gammarelli family has produced the pope robes in three different sizes that are delivered before the conclave meets, in order to fit the newly elected popes. (AP Photo/Andrew Medichini)

Papal shoes and a white skull cap are seen beneath three sets of papal outfits - small, medium and large sizes - which will be sent to the Vatican for the new pope, are displayed in the Gammarelli tailor shop window, in Rome, Monday, March 4, 2013. For over a half century the Gammarelli family has produced the pope robes in three different sizes that are delivered before the conclave meets, in order to fit the newly elected popes. (AP Photo/Andrew Medichini)

Three sets of papal outfits - small, medium and large sizes - which will be sent to the Vatican for the new pope, are displayed in the window of the tailoring shop Gammarelli, in Rome, Monday, March 4, 2013. For over a half century the Gammarelli family has produced the pope robes in three different sizes that are delivered before the conclave meets, in order to fit the newly elected popes. (AP Photo/Andrew Medichini)

Shop owner Lorenzo Gammarelli walks by the shop window where three sets of papal outfits - small, medium and large sizes - which will be sent to the Vatican for the new pope, are displayed, in Rome, Monday, March 4, 2013. For over a half century the Gammarelli family has produced the pope robes in three different sizes that are delivered before the conclave meets, in order to fit the newly elected popes. (AP Photo/Andrew Medichini)

TV crews film Gammarelli tailoring shop window where three sets of papal outfits - small, medium and large sizes - which will be sent to the Vatican for the new pope, are displayed, in Rome, Monday, March 4, 2013. For over a half century the Gammarelli family has produced the pope robes in three different sizes that are delivered before the conclave meets, in order to fit the newly elected popes. (AP Photo/Andrew Medichini)

Shop owner Lorenzo Gammarelli, pulls out sun shades over his shop window where three sets of papal outfits - small, medium and large sizes - which will be sent to the Vatican for the new pope, are displayed, in Rome, Monday, March 4, 2013. For over a half century the Gammarelli family has produced the pope robes in three different sizes that are delivered before the conclave meets, in order to fit the newly elected popes. (AP Photo/Andrew Medichini)

(AP) ? White cassock? Check. White skullcap? Check. Red shoes? Check.

Cardinals haven't even begun meeting in the Sistine Chapel yet to elect the new pope but the family-owned Gammarelli tailor shop that has dressed popes for two centuries is ready.

Gammarelli's on Monday displayed three sets of white vestments ? small, medium and large ? to be shipped to the Vatican for the new pope following Benedict XVI's resignation last week.

"We need to deliver these three garments before the conclave starts because obviously we cannot enter inside the conclave once it started," tailor Lorenzo Gammarelli said Monday.

A white silk "zucchetto," or skullcap, lay on a bed of red cloth in the window, as did a white sash with golden fringes and a pair of red leather shoes.

Tucked behind the Pantheon in downtown Rome, the Gammarelli shop has served scores of cardinals and popes since 1798. Pope Pius XII was an exception: he used his family tailor.

The display of the robes was one of the first tangible signs that a new pope will soon be elected, given the unusual circumstances that have surrounded the resignation of Benedict XVI.

"It's always like the first time for me," said tailor Teresa Palombini. "It's a wonderful feeling and then I wonder who will wear these clothes, who will be the next one?"

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/cae69a7523db45408eeb2b3a98c0c9c5/Article_2013-03-04-EU-Vatican-Pope's-New-Clothes/id-28938e1135aa4cb18dd5ac71ec7a9e82

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Sunday, March 3, 2013

No-kill wolf ban spurs nonlethal options

This Sept. 13, 2004 file photo shows wildlife Biologist Linda Thurston of Defenders of Wildlife untangling a string of fladry, a non-lethal system for protecting livestock from wolves, on a ranch in the Paradise Valley, Mont. Research shows the flags, often backed up by an electriclaly charged wire, somehow make wolves less likely to cross the line, offering protection for livestock that are bunched up at calving time. For the past year, ranchers in Oregon have had to rely on non-lethal systems like fladry, because a temporary court order has barred wildlife officials from killing wolves that attack livestock. Though the numbers of wolves has risen to 46, the numbers of livetock attacks are down. (AP Photo By Garrett Cheen/The Livingston Enterprise)

This Sept. 13, 2004 file photo shows wildlife Biologist Linda Thurston of Defenders of Wildlife untangling a string of fladry, a non-lethal system for protecting livestock from wolves, on a ranch in the Paradise Valley, Mont. Research shows the flags, often backed up by an electriclaly charged wire, somehow make wolves less likely to cross the line, offering protection for livestock that are bunched up at calving time. For the past year, ranchers in Oregon have had to rely on non-lethal systems like fladry, because a temporary court order has barred wildlife officials from killing wolves that attack livestock. Though the numbers of wolves has risen to 46, the numbers of livetock attacks are down. (AP Photo By Garrett Cheen/The Livingston Enterprise)

FILE - In this August 2012 file photo provided by Wolves of the Rockies, the Lamar Canyon wolf pack moves on a hillside in Yellowstone National Park, Wyo. As the progeny of wolves reintroduced to Yellowstone and central Idaho in 1995 and 1996 spread across the West, an accidental experiment has developed. A temporary court order has made Oregon a wolf-safe zone, where wildlife agents are barred from killing wolves that attack livestock. Over the past year, the numbers of wolves has risen to 46 in Oregon, but livestock attacks have remained static. In neighboring Idaho, the number livestock attacks rose dramatically as the numbers of wolves killed by hunters and wildlife agents also increased. (AP Photo/Wolves of the Rockies, File)

This Sept. 1, 2009 file photo provided by Robert Millage shows his rifle with a wolf he shot on the first day of wolf hunting season along the Lochsa River in Northern Idaho. A temporary court order in Oregon has barred wildlife authorities from killing wolves that attack livestock for the past year. While Oregon has seen wolf attacks on livestock remain static while wolf numbers has risen to 46, Idaho last year saw the numbers of livestock attacks rise dramatically as hunters and wildlife agents killed 422 wolves. Wolf advocates hope tha ccidental experiment will lead other states to reconsider lethal controls as wolves spread through the West. (AP Photo/Robert Millage)

This Feb. 13, 2010 file photo provided by the Oregon Department of Fish and Wildlife shows wolf coordinator Russ Morgan with a female wolf pup just fitted with a radio collar in northeastern Oregon. For the past year, Oregon has been a wolf-safe zone, where a temporary court order bars wildlife officials from killing wolves that kill livestock. While wolf numbers has risen to 46, the number of livestock kills has not. Wolf advocates hope the Oregon experiment can spread elsewhere, especially Idaho, where rising numbers of wolves killed last year was accompanied by a spike in livestock attacks. (AP Photo/Oregon Department of Fish and Wildlife)

(AP) ? As long as wolves have been making their comeback, biologists and ranchers have had a decidedly Old West option for dealing with those that develop a taste for beef: Shoot to kill. But for the past year, Oregon has been a "wolf-safe" zone, with ranchers turning to more modern, nonlethal ways to protect livestock.

While the number of wolves roaming the state has gone up, livestock kills haven't ? and now conservation groups are hoping Oregon can serve as a model for other Western states working to return the predator to the wild.

"Once the easy option of killing wolves is taken off the table, we've seen reluctant but responsible ranchers stepping up," said Rob Klavins of the advocacy group Oregon Wild. "Conflict is going down. And wolf recovery has got back on track."

The no-kill ban has been in place since September 2011. That's when the Oregon Department of Fish and Wildlife announced it planned to kill two members of the Imnaha wolf pack in northeastern Wallowa County for taking livestock. Conservation groups sued, arguing that rules allowing wolves to be killed to reduce livestock attacks did not comply with the state Endangered Species Act. The Oregon Court of Appeals stepped in, prohibiting wolf kills while the two sides work to settle, although ranchers who catch wolves in the act of killing livestock may still shoot them.

At the end of 2012, wolf numbers in the state had risen to 46 from 29 in 2011, according to state fish and wildlife officials. Meantime, four cows and eight sheep were killed last year by two separate packs, while 13 cows were killed by one pack in 2011.

Wallowa County cattle rancher Karl Patton started giving nonlethal methods a try in 2010, after he fired off his pistol to chase off a pack of wolves in a pasture filled with cows and newborn calves. State wildlife officials provided him with an alarm that erupts with bright lights and the sound of gunshots when a wolf bearing a radio-tracking collar treads near. He also staked out fladry at calving time. The long strings of red plastic flags flutter in the wind to scare away wolves. The flags fly from an electrically charged wire that gives off a jolt to predators that dare touch it.

The rancher put 7,000 miles on his ATV spending more time with his herd, and cleaned up old carcasses that put the scent of meat on the wind. And state wildlife officials text him nightly, advising whether a wolf with a satellite GPS tracking collar is nearby.

"None of this stuff is a sure cure," said Patton, who worries the fladry will lose its effectiveness once wolves become accustomed to it. Such measures also can't be used in open range.

Seen as a scourge on the landscape, wolves were nearly wiped out across the Lower 48 by the 1930s. In 1995, the federal government sponsored the reintroduction of wolves into Yellowstone National Park and central Idaho. They eventually spread to Montana, Wyoming, Oregon, Washington and California.

With wolf numbers approaching 1,800, the federal government dropped Endangered Species Act protection in 2011 in the Northern Rockies, eastern Oregon and eastern Washington, and turned over recovery management to the states.

While ranchers are not happy with the wolf comeback, the wider public is. A 2011 survey for the Washington Department of Fish and Wildlife found 74.5 percent of Washington residents believe it acceptable for wolves to recolonize their state.

Wolf advocates hope the Oregon experiment can spread elsewhere, especially Idaho, which had 746 wolves in 2011. In 2012, hunters and wildlife agents killed 422 wolves, compared with 296 for 2011. Sheep and cattle kills, meantime, went up from 192 in 2011 to 341 in 2012.

Idaho Fish and Game biologist Craig White said it "raised eyebrows" on both sides of the wolf debate when the livestock kills rose even as more wolves were killed. Previously the trend had been for livestock kills to go down as wolf kills went up. The state plans to continue killing wolves until elk herds ? their primary prey and a popular game animal ? start increasing, he said.

The Idaho numbers show "you can't manage wolves using conventional wisdom and assumption," said Suzanne Stone of Defenders of Wildlife in Idaho. "Using these old archaic methods of managing predators by just killing them is not working."

In "no-kill" Oregon, ranchers disagree. Wallowa rancher Dennis Sheehy puts bells on his cattle to help scare away wolves. He also spends more time with his herd, and cleans up old bone piles. Nevertheless, he believes a kill option should always be on the table for wolves that prey on livestock. The 2011 ban, he said, "really upset people around here."

Patton has never lost a cow while using the fladry and alarms. But two were killed on the open range and one in a large pasture where such protection measures are impractical. He has also found tracks showing wolves crossed the fladry and walked among his cows without, for some reason, attacking them.

He still believes the only way to deal with wolves that attack cattle is to kill the whole pack.

"It's frustrating, more than anything, because we have our hands tied," he said. "You can kill a man (who) comes into your house to rob you. Wolves are more protected than people."

___

Follow Jeff Barnard at http://twitter.com/JeffBarnardAP

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/386c25518f464186bf7a2ac026580ce7/Article_2013-03-02-Wolf-Safe%20State/id-f254f0da638e48548e335d43c2206830

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This Facebook-Twitter Marriage Proposal Shows Social Media Might Not Be Killing Romance After All

twitbook proposalThere's this video making the San Francisco and tech industry rounds this weekend, of Facebook staffer Jon Park proposing to his longtime girlfriend, Twitter employee Genevieve Wong. It's called the "Twitbook Proposal," since Park incorporated the products built at both his and Wong's day jobs into the whole thing. The result is pretty amazing. We all know that social media can sometimes ironically be more alienating than anything, but this is really an example of Twitter and Facebook at their best, bringing people together and helping them chronicle the special moments in their lives. If anything, it shows that social media might not be killing love after all. Park has proved that it's possible to use Twitter and Facebook in ways that are actually relevant and romantic when it comes to relationships.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/85p8c-B_l_w/

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Saturday, March 2, 2013

'Girls Gone Wild' files for bankruptcy over debts

This cover image released by Girls Gone Wild shows the September 2009 issue of "Girls Gone Wild." "Girls Gone Wild" filed for bankruptcy Wednesday, Feb. 27, 2013 in Los Angeles in a move the company says is aimed at restructuring its legal affairs amid several creditors seeking more than $16 million in disputed debts. (AP Photo/Girls Gone Wild via PRNewsFoto)

This cover image released by Girls Gone Wild shows the September 2009 issue of "Girls Gone Wild." "Girls Gone Wild" filed for bankruptcy Wednesday, Feb. 27, 2013 in Los Angeles in a move the company says is aimed at restructuring its legal affairs amid several creditors seeking more than $16 million in disputed debts. (AP Photo/Girls Gone Wild via PRNewsFoto)

(AP) ? The company behind the "Girls Gone Wild" video empire has filed for bankruptcy in a move it says is an effort to restructure its legal affairs after several disputed court judgments.

GGW Brands LLC and several subsidiaries filed for Chapter 11 bankruptcy on Wednesday in Los Angeles, listing more than $16 million in disputed claims.

The largest claim is $10.3 million that Wynn Resorts Limited is seeking from the company for judgments entered against "Girls Gone Wild" founder Joe Francis over a gambling debt and statements he has made about the casino and its founder, Steve Wynn.

The figure does not include a $19 million judgment Wynn won against Francis in a slander trial last year. The case, which centered on Francis' claims that Wynn threatened to kill him over the gambling debt, is being appealed.

Francis no longer GGW Brands, which has made a fortune selling videos and magazines of young women flashing their breasts. Subsidiary companies GGW Magazine and GGW Events have also filed for bankruptcy. Bankruptcy proceedings generally halt efforts to collect judgments in other courts.

"Girls Gone Wild remains strong as a company and strong financially," the company said in a statement, likening itself to other businesses such as American Airlines and General Motors that have filed for bankruptcy to restructure. "The only reason Girls Gone Wild has elected to file for this reorganization is to re-structure its frivolous and burdensome legal affairs."

The second largest claim listed in the proceedings is a nearly $5.8 million judgment a St. Louis woman won against Francis last year in a Missouri court. Tamara Favazza sued after she learned she had been featured on a "Girls Gone Wild" DVD over an incident when she was a 20-year-old college student and someone lifted her tank top at a bar and flashed a camera.

Francis and his company, Mantra Films, are seeking to have the judgment overturned in federal court.

The bankruptcy filing also lists unspecified legal fees in the Wynn and Favazza cases.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/f70471f764144b2fab526d39972d37b3/Article_2013-02-28-Girls%20Gone%20Wild-Bankruptcy/id-c0ad39468d3b4e749b40a00f67fe9805

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Friday, March 1, 2013

AOL COO Artie Minson Is OUT, Susan Lyne Is ... - Business Insider

AOL COO Artie Minson is stepping down.

Eventually, he's going to leave the company.

Right now,?Susan Lyne, formerly of Gilt and Martha Stewart, will step in as CEO of Brands.

Running brands was one of Minson's responsibilities.

Lots of people give Artie Minson credit for getting AOL as healthy as it is.

One of these people is CEO Tim Armstrong, who says in a release:

?In his role first as CFO and most recently as COO, Artie has done an extraordinary job of optimizing AOL?s assets and has created a tremendous amount of value for shareholders. Artie has played a key role in the turnaround of AOL and that will continue in 2013 during the transition period.?

Minson got his start optimizing subscriptions at Time Warner Cable, and then brought the same expertise to AOL to great effect.

Minson will stick around and report to Armstrong during a transition period that could last as long as a year.

This move makes sense. AOL's growth opportunity is as a media company. Minson isn't really a media executive the way Lyne is.

Here's the release:

Susan Lyne, Vice Chairman of Gilt and AOL board member, has been appointed to run AOL?s portfolio of brands that serve over 100 million consumers globally.

Lyne will oversee all aspects of the Brand Group?s growth strategy, including increasing traffic across properties, maximizing partnerships with advertisers and publishers, and attracting top talent, with a particular focus on content, design, programming, and product.

?In her roles as CEO then Chairman of Gilt, and previously as President and CEO of Martha Stewart Living Omnimedia, Susan has a proven track record of brand building and aggressive growth,? said Tim Armstrong, Chairman and CEO. ?I know she?ll bring that same drive and growth-oriented mentality to our Brand Group. AOL ended 2012 growing revenue for the first time in eight years, and we expect Susan to help build on this momentum and take our brands to the next level.?

?In my three years as an AOL board member, I have partnered with Tim Armstrong and my fellow directors to help drive the company?s transformation, and have seen AOL make great strides as it continues to innovate, grow and evolve,? Lyne said. ??I?m looking forward to contributing to the company?s continued evolution in my new role, and will focus on creating additional value with all of AOL?s premium brands. ?Our efforts center on making all of our brands true destinations for audiences worldwide, and to provide marketers with innovative opportunities to connect with these audiences.?

Lyne recently transitioned from her role as Chairman of Gilt to become Vice Chairman. ?She will continue in that role.


In addition to her roles at Gilt and Martha Stewart Living Omnimedia, Lyne brings a decade of experience in the television industry, including serving as President of ABC Entertainment, where she oversaw the development of shows such as Desperate Housewives, Lost, and Grey?s Anatomy. ?Lyne?s convergence of experience, encompassing media, television and the digital industry, will be particularly valuable to AOL.

Lyne?s appointment is part of AOL?s continued efforts to streamline its operations and give its business unit leaders more autonomy and accountability. AOL has three business units ?The Membership Group, which consists of offerings that serve AOL account holders, AOL Networks, which consists of AOL's offerings to publishers and advertisers utilizing AOL?s third-party advertising network, and the Brand Group, which consists of AOL's portfolio of distinct and unique content brands. All three business units were overseen by AOL?s Chief Operating Officer, Arthur ?Artie? Minson, who will stay with the company for a transition period.

?In his role first as CFO and most recently as COO, Artie has done an extraordinary job of optimizing AOL?s assets and has created a tremendous amount of value for shareholders,? Armstrong said. ?Artie has played a key role in the turnaround of AOL and that will continue in 2013 during the transition period.?

??I came back to AOL three and a half years ago with the goal of returning AOL to being a growth company,? said Minson.? ?With that accomplished, I have decided to stay and continue to work closely with Tim during this transition period. I look forward to AOL?s continued success.??

About AOL

AOL Inc. (NYSE: AOL) is a brand company, committed to continuously innovating, growing, and investing in brands and experiences that inform, entertain, and connect the world. The home of a world-class collection of premium brands, AOL creates original content that engages audiences on a local and global scale. We help marketers connect with these audiences through effective and engaging digital advertising solutions.

Source: http://www.businessinsider.com/aol-coo-artie-minson-is-out-susan-lyne-is-new-ceo-of-brands-2013-2

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Sony NEX-3N Hands-On: The Teeny Tiny Interchangeable Lens Camera

The latest of the seemingly endless iterations of Sony NEX interchangeable lens cameras is the NEX-3N. At $500 including kit-lens, Sony is shooting for the lower end with this one—primarily people who are just stepping up from a smartphone or compact point-and-shoot. We got a chance to toy around with the new camera today at the American Museum of Natural History. First impression? Adorable. More »


Source: http://feeds.gawker.com/~r/gizmodo/full/~3/kssdVWwxMtQ/sony-nex+3n-hands+on-the-teeniest-tiniest-interchangeable-lens-camera

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