Sunday, March 25, 2012

No damage, injuries in 5.1-magnitude Chile quake

(AP) ? A 5.1-magnitude temblor has shaken awake residents of Chile's capital, but no damage or injuries have been reported.

The US Geological Survey reports that the earthquake occurred Saturday at 4:28 a.m. local time, or 0728 GMT. It was centered in the Chile's metropolitan region, at a depth of 66.7 kilometers (about 40 miles).

The University of Chile's seismological service measured the quake as stronger, with a 5.3 magnitude.

The Chilean government's National Emergency Office says no injuries or damage have been reported, and basic services have not been affected.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/cae69a7523db45408eeb2b3a98c0c9c5/Article_2012-03-24-LT-Chile-Earthquake/id-3c196a180e174e228ba205f45132082d

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Saturday, March 24, 2012

Your Real Estate Agent Will Help You With The Closing Paperwork ...

Get some information about the housing market in the area. There are many websites to look up local data by zip code, including selling prices, time on market, foreclosures and more. In addition to researching the local housing market, you should learn about employment conditions in your potential new neighborhood. But don?t just look at statistics. A terrific house in a great neighborhood can defy the averages.

Look for the house of your dreams. The conventional wisdom is that since the housing bubble has popped, selling and buying a bigger home is not economical, but some experts disagree with this thinking. However, since the housing market is perpetually rising, you might as well buy the house you?ve always wanted now. If you buy a smaller home instead, the house you really wanted may be too expensive for you by the time you?re ready to move.

It is best to purchase a house that only has a fireplace in the family room unless you reside in a climate that makes it necessary to have more. It is a real hassle to keep up with cleaning multiple fireplaces and they are rarely used anyway.

You can request that the seller help out with closing costs or sweeten the deal with other financial incentives when you make your offer on the house you have in mind. Very often a seller will be willing to cover some of the interest charges early in the loan. When you include concession demands in your offer, sellers become less willing to lower their asking price.

Real estate agents need to get a hold of their former clients during anniversaries and holidays of their date of purchase. Hearing again from you will let them remember of how you helped them when they were selling or buying. Conclude your message with a reminder that you are eager to receive referrals.

As discussed in the start of this article, putting your faith in real estate experts may not be as advantageous as it may seem. If these experts were really good at their job, then maybe we could have avoided housing disaster a few years ago. Stay away from the people who think they know everything and instead, use these up-to-date tips on how to purchase property. The information provided in this article will help you to learn what to look for when you are interested in buying a piece of property.

Thank you for visiting this site dedicated to Louisville Ky real estate and checking out our posts and viewing all of the available properties in this area. For a larger collection of articles plus weekly analysis of city real estate data, please feel free to stop by our Norton Commons homes website or for a more specific real estate search, please visit http://nortoncommonsrealestate.com/

Source: http://louisvillekyrealestateblog.com/?p=361

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MGM says it will lose money on 'Dragon Tattoo'

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Source: http://news.yahoo.com/mgm-says-lose-money-dragon-tattoo-003913604.html

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Friday, March 23, 2012

American WWII veterans retain ties in Myanmar

LAIZA, Myanmar (AP) ? They're in their 80s and 90s, and it all happened a very long time ago and far away, but American World War II veterans are still repaying "debts" to their comrades-in-arms in northern Myanmar ? because without them they might never have returned home.

Instead of retelling war stories as old soldiers are prone to do, these survivors of some of the war's harshest campaigns have set up education, health and other programs in this remote region to help the Kachin, an ethnic group that fought alongside them against the Japanese.

The brotherly bonds, both sides say, have not been severed despite the passing of 70 years, the isolationist policies of Myanmar and a long-running conflict between the autonomy-seeking Kachin and the military-backed government.

"We were all for one and one for all," remembers American Sam Spector of his days as an 18-year-old combat radio operator.

Among the ravishing mountains and valleys, the Kachin remember the Americans in a legendary light, as part of their folklore.

It was an improbable but remarkable partnership. The Americans came from the Office of Strategic Services, the predecessor of the CIA. Young and inexperienced, most had only seen jungles in the movies. Some of the Kachin, then a largely illiterate people, had never seen a wheel. The Kachin tutored the newcomers in jungle survival and in turn were taught modern warfare.

They formed a guerrilla force, the Kachin Rangers, which numbered 10,800 at its peak and killed 5,400 Japanese while losing only 202 of their own ? one of the highest kill-loss ratios in U.S. military history. They demolished Japanese bridges and trains, provided intelligence and rescued 425 downed airmen.

Experts at ambush, the Kachin terrorized the enemy with stealth and ferocity. When one general questioned the high body counts, a Kachin fighter dropped a bundle on his desk and said, "Count the ears and divide by two."

Peter Lutken, a battalion commander who fought with the Kachin behind Japanese lines, learned their language and culture around campfires.

"They loved him and he probably would not be alive today without their friendship ? neither would most other American and British soldiers in that part of the war," said his son, Peter Lutken III.

The elder Lutken, a retired businessman who lives in Dallas, was among a group of veterans who made a return trip to Myanmar in 1995, the 50th anniversary of the end of World War II.

"When the war ended, we walked off and left them with a few medals, a few presents and nothing else," he said before that trip. "It wasn't right."

He spoke of "a debt of honor" owed by his unit, Detachment 101 of the Office of Strategic Services.

An initial effort right after the war failed, and subsequent ones were stalled by Myanmar's government, which was trying to suppress the Kachin insurgency and also growing more hostile to the United States.

In 1996 the veterans began Project Old Soldier, training impoverished villagers to plant corn, buckwheat and other crops instead of opium, sending nurses to visit ailing Kachin veterans and aiding orphans.

Eight years later they started 101 Schools, which teaches mathematics and English to classes of up to 500 students in open-sided sheds, barns and church outbuildings in the largely Christian community.

The veterans have not been to Kachin state since the 1990s but continue to funnel in funds from the United States.

Among the few foreign aid groups allowed to operate in northern Myanmar, the two organizations have funded the translation and printing of health care manuals and hope to assist some of the more than 75,000 refugees from fighting which erupted again last year.

The Kachin first took up arms against the regime in 1961 and Kachin state remains a patchwork of areas, some controlled by the government and others by the rebel Kachin Independence Organization.

Dan Tarter, a retired U.S. Army colonel who administers 101 Schools, says that after some initial wariness the government has not interfered in the veterans' efforts, even inviting them to expand the projects. He ascribes this to the low profile and nonpolitical, nonreligious nature of the aid.

"We operate like a program named for 0SS 101 should operate ? quietly," he says.

The Kachin insurgents welcome the assistance.

"American veterans and their children are grateful to us. We are also grateful to them, because they have tried to help the children of the Kachin veterans," says La Nan, a spokesman at rebel headquarters in Laiza.

But he regretted that "this spirit only applies to the old generation of Americans" while the United States appears to have forgotten the once strong ties at a time when the Kachin are embroiled in another conflict.

The U.S. is pressuring Myanmar to resolve its ethnic wars, but the Kachin hope for even greater diplomatic support and humanitarian aid. Some of the U.S. veterans agree, recalling the friendships and mutual trust.

"I was accepted fully by the Kachins and I respected their life, their ethics, their innocence, which was not much different from mine," says Spector, a delivery boy in New York City with only limited schooling before he enlisted.

After the war he moved to Rome, Georgia, and became a lawyer, businessman and university professor.

He was among those who returned in 1995. During an emotional reunion Lutken spoke to a group of young Kachin women in their language, mentioning the name by which he was known during the war: Ka'Ang Zau Lai, or "He who went through it from beginning to end."

"The girls all knew it. Pete had become a part of the living history of the Kachin people. The girls started to cry at meeting this old warrior and hero of the Kachin," says Barry Broman, a retired U.S. diplomat who hosted a party for the group in Yangon, then the capital of Myanmar.

The wartime exploits of the Americans and Kachin, some of whom went on to join the rebels, have not been celebrated by Myanmar. The government is dominated by the majority ethnic group, the Burmans, many of whom initially sided with the Japanese.

"Burmese historians only write one or two lines about the contribution of the hill people in the liberation from Japan. That's all. This is a great tragedy," says Rev. Maran Ja Gun, a Christian pastor, historian and adviser to the Kachin Independence Organization.

There is a monument ? an American and Kachin soldier standing side-by-side, garlanded weekly with fresh flowers ? but it's on the grounds of the U.S. Embassy in Yangon. Authorities didn't give permission for one in Myitkyina, the Kachin state capital, although the Japanese were allowed to erect a war memorial.

For the American veterans, what matters are the schools and other aid projects, Tarter says: "These are their monuments."

___

On the Web: www.osssociety.org

Source: http://news.yahoo.com/american-wwii-veterans-retain-ties-myanmar-063111585.html

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Thursday, March 22, 2012

Proxy battle pits new Yahoo CEO against hedge fund

SAN FRANCISCO (Reuters) - Less than three months into the job as Yahoo Inc's chief executive, Scott Thompson faces a proxy showdown with hedge fund Third Point that will determine whether he or a slate of dissident directors nominated by the hedge fund's founder, Dan Loeb, gets to chart the company's course.

"Thompson has got to make his case. And now he has to do it persuasively because there's another guy who is going to make his case persuasively," said Lawrence Haverty, a fund manager with GAMCO Investors, which owns Yahoo shares.

Thompson is finishing plans to overhaul Yahoo's operations, the first step in an ambitious effort to pull off one of the Internet industry's biggest comebacks. But Third Point has its own ideas about what to do with the once-dominant, now-slumbering Internet icon.

Armed with a slate of four alternative candidates for the Yahoo board of directors, Third Point officially launched a campaign on Wednesday to have a formal role at Yahoo.

For Yahoo shareholders, the central question is whether they believe Thompson can create more value for them than the company's current $15 to $16 stock price or if they should cut their losses and push for a sale of Yahoo's various assets, said Haverty, who declined to comment on how his firm will vote in the proxy contest.

Third Point, which ranks as Yahoo's largest institutional shareholder with a 5.8 percent stake, has not yet articulated its intentions, except to say that it believes the company needs to change.

Third Point has accused Yahoo of being dismissive of its input and described the current board as "sorely in need" of restructuring capabilities and media strategies.

In addition to himself, Loeb has nominated former NBC Universal President Jeff Zucker, long-time media consultant Michael Wolf, and Harry Wilson, a turnaround specialist, for election to Yahoo's board.

Yahoo's market capitalization currently stands at less than half of the $44.6 billion Microsoft offered for it in 2008, giving Third Point a rich vein of investor discontent to tap.

"If gets through the annual meeting and successfully navigates these issues then he's going to be looked at as a more credible and effective CEO," said Jim Post, a professor at Boston University School of Management who specializes in corporate governance. "If he doesn't, he's going to be seen as a weaker CEO. And if he's seen as a weaker CEO, that's like blood in the water," said Post.

100 DAYS

Thompson, a former president of PayPal and Yahoo's fourth CEO in five years, is not wasting time shaking things up at Yahoo.

According to one Yahoo insider, the company is preparing for a massive reorganization that could come within weeks and could result in layoffs of several thousand of its roughly 13,000 employees.

Rather than simply cutting jobs, the Yahoo insider said, the reorganization could eliminate entire business lines, allowing Yahoo to concentrate on its most promising opportunities. As it stands now, this person said, Yahoo is a jumble of media businesses and technology products that have saddled it with huge costs and little, if any, growth.

While Yahoo has stagnated, Web rivals such as Google and Facebook are increasing revenue and market share. Last year, Google's revenue rose 29 percent to $37.9 billion while Facebook's revenue increased 88 percent to $3.7 billion. By contrast, Yahoo's revenue declined more than 20 percent to $4.98 billion last year.

"They have to figure out how to better monetize the site and how to maintain users on the site. They've got a lot of work to do because they're becoming less and less relevant every day," said Brian Pitz, an analyst at UBS, referring to Yahoo.

The reorganization would represent the third splashy headline Thompson has generated in his first 100 days on the job, alongside the company's decision to sue Facebook for patent infringement and the end of negotiations on a complex deal to spin off Yahoo's Asian assets.

Yahoo owns roughly 40 percent of Chinese Internet giant Alibaba Group and 35 percent of Yahoo Japan.

The Facebook lawsuit sparked outrage among Silicon Valley's tech crowd, as critics accused Yahoo of resorting to crass legal tactics instead of developing innovative products. When news surfaced last month that talks between Yahoo, Alibaba Group and Softbank relating to a $17 billion tax-free asset swap had fallen apart, investors promptly sent the company's shares down nearly 6 percent.

Thompson, a native of Boston's south shore whose thick accents stands out in Silicon Valley, recently met with representatives from Alibaba and Softbank, according to a person familiar with the situation, though it's unclear whether the meeting would revive negotiations.

DEAL OR NO DEAL?

Sour feelings among investors about Yahoo's failure to spin off its Asian assets could provide ammunition for Third Point to promote its alternative vision of the company's future.

"If Yahoo is able to come to an agreement soon with Alibaba that's good for shareholders, that will be helpful," said Ryan Jacob, chairman and chief investment officer of Jacob Funds, which owns Yahoo shares.

"If they can't, you have to assume that Third Point will have some degree of success in terms of nominating their own slate," he added, noting that he was currently leaning toward voting for Third Point's candidates.

Third Point's four directors would not have a majority on Yahoo's 11-member board. Still, they could represent a voice "that can't be ignored" on key matters and gain seats on important board committees, said Boston University's Post.

At the top of Third Point's list, Post reckoned, is likely the five-member Transactions and Strategic Planning committee, which oversaw the negotiations with Alibaba and Softbank and is currently chaired by Intuit CEO Brad Smith.

A representative for Yahoo, which has said that four of its current board members will not stand for re-election this year, declined to comment beyond a statement that said a committee of the board has reviewed a wide range of candidates, including Third Point's, and will make its own recommendations shortly. Third Point did not return a request for comment.

Third Point's campaign to install its directors on the board may not come down to a dramatic vote at the annual meeting, expected to be held some time in June.

"These things do get negotiated," said Stephen Diamond, a professor at Santa Clara University School of Law who teaches classes on business organizations and corporate governance. He cited a November deal by Hewlett Packard Co that gave activist shareholder Ralph Whit worth a seat on the company's board of directors, as well as seats on two board committees.

Any deal between Yahoo and Third Point would likely include a condition that the new directors support the CEO for the foreseeable future, said Diamond.

"The current board will not agree to simply place these dissidents on the slate without some agreement," he said.

Some Yahoo investors do want to give Thompson a chance, so that kind of an arrangement might be the best outcome for all sides.

"I like Scott Thompson, I think he's making the right moves," said Adam Seessel, director of research at Martin Capital Management, which owns Yahoo shares. But, he added, "it's always good to have a shareholder looking over his shoulder."

(Reporting By Alexei Oreskovic; Editing by Peter Lauria and Steve Orlofsky)

Source: http://news.yahoo.com/proxy-battle-pits-yahoo-ceo-against-hedge-fund-142618791.html

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Utah woman, 101, paraglides into record books

This undated image provided by KSL TV, shows 101- year-old Mary Hardison of Ogden, Utah. Guinness World Records says Tuesday, March 20, 2012, that Hardison is officially the oldest female to paraglide tandem. Hardison decided to paraglide because her 75-year-old son was doing it as a hobby, and she says she couldn't let him do something she didn't at least try. (AP Photos/KSL, Jeremy Castellano)

This undated image provided by KSL TV, shows 101- year-old Mary Hardison of Ogden, Utah. Guinness World Records says Tuesday, March 20, 2012, that Hardison is officially the oldest female to paraglide tandem. Hardison decided to paraglide because her 75-year-old son was doing it as a hobby, and she says she couldn't let him do something she didn't at least try. (AP Photos/KSL, Jeremy Castellano)

This undated image provided by KSL TV, shows 101- year-old Mary Hardison of Ogden, Utah. Guinness World Records says Tuesday, March 20, 2012, that Hardison of Ogden is officially the oldest female to paraglide tandem. Hardison decided to paraglide because her 75-year-old son was doing it as a hobby, and she says she couldn't let him do something she didn't at least try. (AP Photos/KSL, Jeremy Castellano)

In this undated image provided by KSL TV, 101- year-old Mary Hardison of Ogden, Utah, front second from right, is photographed with her family. Guinness World Records says Tuesday, March 20, 2012, that Hardison of Ogden is officially the oldest female to paraglide tandem. Hardison decided to paraglide because her 75-year-old son was doing it as a hobby, and she says she couldn't let him do something she didn't at least try. (AP Photos/KSL, Jeremy Castellano)

In this undated image provided by KSL TV, 101- year-old Mary Hardison of Ogden, Utah, glides to a gentle landing after flying hundreds of feet in the the air with an instructor. Guinness World Records says Tuesday, March 20, 2012, that Hardison of Ogden is officially the oldest female to paraglide tandem. Hardison decided to paraglide because her 75-year-old son was doing it as a hobby, and she says she couldn't let him do something she didn't at least try. (AP Photos/KSL, Jeremy Castellano)

In this undated image provided by KSL TV, 101- year-old Mary Hardison of Ogden, Utah, glides to a gentle landing after flying hundreds of feet in the the air with an instructor. Guinness World Records says Tuesday, March 20, 2012, that Hardison of Ogden is officially the oldest female to paraglide tandem. Hardison decided to paraglide because her 75-year-old son was doing it as a hobby, and she says she couldn't let him do something she didn't at least try. (AP Photos/KSL, Jeremy Castellano)

(AP) ? A 101-year-old Utah woman who ushered in her birthday with a tandem paraglide ride last year soared into the record books Tuesday.

Great-great grandmother Mary Hardison, of Ogden, has been officially recognized as the "Oldest Female to Paraglide Tandem" by Guinness World Records. She has supplanted a 100-year-old woman from Cyprus who took her flight in 2007.

Hardison flew with an instructor on Sept. 1, 2011, while four generations of her family watched and cheered. The flight went smoothly and even included a few tricks that Hardison encouraged.

Hardison said she wanted to paraglide because her 75-year-old son began doing it as a hobby.

"I didn't want him to get too far ahead of me, so I decided that I'd go too," she said Tuesday.

Fear never entered the equation for Hardison, who previously rode all of the adult rides at Disneyland to celebrate her 90th birthday.

Hardison said she was shocked to learn her flight had become a world record.

"To me, I was just going on a little ride," she said. "I had no idea I'd break a record."

Hardison said her active lifestyle has already inspired others her age to pursue similar adventures.

"Some people have said, 'Well, if you can do that at your age then there's no need for me to just sit around,'" she said. "My desire is for the elderly to keep on going. Do things as long as you are physically able. Be positive. Friends don't like a grumpy person."

When Hardison decided to take the birthday leap, family members were concerned for her safety. After all, it was her first flight and she was the oldest customer the paragliding company had ever taken into the air.

"My first reaction was she was nuts," said daughter-in-law Bonnie Hardison. "But everyone is just so excited and thinks this record is great."

As for any future flights, Mary Hardison, who spends her days quilting for charities, is just playing it by ear.

"If the notion strikes, I'll go again," she said.

_____

Josh Loftin can be reached at http://www.twitter.com/joshloftin

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/aa9398e6757a46fa93ed5dea7bd3729e/Article_2012-03-20-US-Paragliding-Grandma/id-0992127abd7c4a0481d79db57fe306bd

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